The Lottery Essay Summary Example For Students

The Lottery Essay Summary The lottery The popular opinion in society is always the opinion of the majority of society.Due to this simple fact, minorities often are ignored when they attempt to voice their opinions and are sometimes scrutinized for it.In the novel To Kill a Mockingbird many such examples exist, as well as in The Grapes of Wrath and the short story The Lottery.All three of these works, in different methods show to some extent that the voices of minorities are often just whispers among a roaring society. Marginal members of society are particularly mocked and maimed.Tom Robinson for example, from To Kill a Mockingbird, a black man accused of raping a white woman is convicted even though circumstantial evidence is all but presented.His lawyer, Atticus Finch describes the case in this quote, In our courts when its a white mans word against a black mans, the white man always wins.Theyre ugly, but those are the facts of life.There is a sense of support for the African-Americans present in the novel too.Mr. Dolphus Raymond states his opinions of discrimination to Dill perfectly, You arent thin-hided, it just makes you sick, doesnt it?Atticus also tells his children some very good advice for the future, As you grow older youll see white men cheat black men every day of your life, but let me tell you something and dont you forget it-whenever a white man does that to a black man, no matter who he is, how rich he is, or how fine a family he comes from, that white man is trash.Women, as well a s children, although they are not a minority, they are treated the same way.In Shirley Jacksons The Lottery they schedule a public stoning every year for June 27, and decide who to stone through a process of drawing slips of paper for families and then for individuals of that family.Women and children are no exception to the rule.They draw too.When Tessie Hutchinson begins to object to the manner of the drawing, she is cut off in this quote, Suddenly, Tessie Hutchinson shouted to Mr. Summers, You didnt give him time enough to take any paper he wanted.I saw you. It wasnt fair!Be a good sport, Tessie, Mrs. Delacroix called, and Mrs. Graves said, All of us took the same chance.Shut up, Tessie, Bill Hutchinson said.Tessie Hutchinson is told to shut up by her own husband! Mrs. Hutchinson detests the lottery and does so until her death, as shown in this quote, It isnt fair, it isnt right, Mrs. Hutchinson screamed, and then they were upon her.This is a direct disregard to hear her opinions and her ideas.Children are also shown this discrimination in Lees To Kill a Mockingbird.After saying Hey to her aging neighbor, Scout is chastised by Mrs. Dubose rather sharply.Mrs. Dubose replies to Scout, Dont you say hey to me, you ugly girl!You say good afternoon, Mrs. Dubose!This only reinforces the fact that young people are discriminated against as much as minorities. We will write a custom essay on The Lottery Summary specifically for you for only $16.38 $13.9/page Order now In Steinbecks The Grapes of Wrath, this same disrespect is shown to the Okies, as they are called.The Joads upon arrival at their destination in southern California, they find that their paradise is due south of heaven.Locals call them dirty and stupid, and reject them.Even local bums reject them as in this quote, No, looka here.Ill come for ya tonight.Maybe Im wrong.Theres stools aroun all a time.Im takin a chancet, an I got a kid, too.But Ill come for ya.An if ya see a cop, why, youre a goddamn Okie, see?The Joads are left out and scrutinized, not for being a minority, but because they are foreigners in their own country. .u1f82b19bc44f64d759bc629b6ad74dec , .u1f82b19bc44f64d759bc629b6ad74dec .postImageUrl , .u1f82b19bc44f64d759bc629b6ad74dec .centered-text-area { min-height: 80px; position: relative; } .u1f82b19bc44f64d759bc629b6ad74dec , .u1f82b19bc44f64d759bc629b6ad74dec:hover , .u1f82b19bc44f64d759bc629b6ad74dec:visited , .u1f82b19bc44f64d759bc629b6ad74dec:active { border:0!important; } .u1f82b19bc44f64d759bc629b6ad74dec .clearfix:after { content: ""; display: table; clear: both; } .u1f82b19bc44f64d759bc629b6ad74dec { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u1f82b19bc44f64d759bc629b6ad74dec:active , .u1f82b19bc44f64d759bc629b6ad74dec:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u1f82b19bc44f64d759bc629b6ad74dec .centered-text-area { width: 100%; position: relative ; } .u1f82b19bc44f64d759bc629b6ad74dec .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u1f82b19bc44f64d759bc629b6ad74dec .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u1f82b19bc44f64d759bc629b6ad74dec .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u1f82b19bc44f64d759bc629b6ad74dec:hover .ctaButton { background-color: #34495E!important; } .u1f82b19bc44f64d759bc629b6ad74dec .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u1f82b19bc44f64d759bc629b6ad74dec .u1f82b19bc44f64d759bc629b6ad74dec-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u1f82b19bc44f64d759bc629b6ad74dec:after { content: ""; display: block; clear: both; } READ: Fossil Fuel Consumption, CO2 and its impact on Glo EssayThe three works, all in different genres of literature, all show a similar message within them.Minorities are rarely accepted and heard out.Even for the slightest reason, these people are rejected, and scrutinized.Yet they manage to survive, because they are the people and they go on.

Experiencing Discourse in Different Situations Essay Example

Experiencing Discourse in Different Situations Essay Example Experiencing Discourse in Different Situations Paper Experiencing Discourse in Different Situations Paper The main points of Gee’s piece Literacy, Discourse, and Linguistics, Villanueva’s piece Excerpts from Bootstraps: From an Academic of Color, and Priors piece Tracing Process: How Tests Come into Being are discourse. In the first reading Gee describes the main discourses, which are primary discourse, and secondary discourse. Primary discourse was explained more as the influence of your language and writing from your house hold, and family. Then secondary discourse would be the influence from your teachers and school. In Villanueva’s piece he talks about his journey through college, and how it was more challenging for him because his primary discourse was not the same as everyone else’s. As for Prior he explains the process of writing, and all the drafts you must have, along with switching your discourse depending on who you’re writing for. At the beginning of Gee’s piece he talks about the two ladies that are doing interviews for jobs that they want. He states, â€Å" This woman hasn’t got a real problem with her grammar, nor is there any real problem with the use to which she puts that grammar, but she is expressing the wrong values†(Gee pg. 2). He was discussing that what they were saying in their interviews, was probably not the best things to be saying. This is relating to Prior’s piece because he talks about how you change discourses depending on your audience. If you are having an interview you want to be very professional, and make your self sound proper, but you also need to make yourself sound qualified for the job. It’s also states discourse isn’t all about grammar, and speaking proper like school always taught us is not always appropriate or necessary. The most important part of communication is the content. In the interviews the girls were asked if they have ever sh own initiative in a previous job. One of the girls responds with, â€Å"I was left alone to handle the office, I didn’t really have a lot of e

Atomic Mass and Mass Number Chemistry Review

Atomic Mass and Mass Number Chemistry Review Atomic mass and atomic mass number are two important concepts in chemistry. Heres a quick review of what is meant by atomic mass and atomic mass number, as well as how actual particle mass relates to atomic number. Atomic Definitions Z is used to signify the atomic number or proton number of an atomZ # of protons of an atomA is used to signify the atomic mass number (also known as atomic mass or atomic weight) of an atomA # protons # neutronsA and Z are integer valuesWhen the actual mass of an atom is expressed in amu (atomic mass units) or g/mol then the value is close to A Are Atomic Mass and Atomic Mass Number the Same? Yes and no. If you are talking about a sample of a single isotope of an element, the atomic mass number and the atomic mass are either very close or else the same. In introductory chemistry, its probably fine to consider them to mean the same thing. However, there are two cases in which the sum of the protons and neutrons (atomic mass number) is not quite the same as the atomic mass! In the periodic table, the atomic mass listed for an element reflects the natural abundance of the element. The atomic mass number of the isotope of hydrogen called protium is 1, while the atomic mass number of the isotope called deuterium is 2, yet the atomic mass is listed as 1.008. This is because natural elements are a mixture of isotopes. The other difference between the sum of protons and neutrons and the atomic mass is due to mass defect. In a mass defect, some of the mass of the protons and neutrons is lost when they bind together to form an atomic nucleus. In a mass defect, the atomic mass is lower than the atomic mass number. Source Jensen, William B. (2005). The Origins of the Symbols A and Z for Atomic Weight and Number. J. Chem. Educ. 82: 1764.

Work Schedule Assignment Example | Topics and Well Written Essays - 500 words

Work Schedule - Assignment Example Given this consideration, it is imperative to come up with a low cost customer service employee daily assignment schedule. The aim of this study was to utilize Linear Programing (LP) to review low- cost customer service employee assignment schedule options. The additional objectives included were to depict the necessity to test theses results for sensitivity to different constraints in order to include a number of total part time and increased labor cost due to non typical days. These models were created by the use of the Microsoft Excel solver to calculate the LP model. The variety of constraints that were included were: a minimum number of customer representatives per hour, mandatory full time shift schedules include a lunch break of one hour, a standard pay for full time and part time employees, a maximum number of total part time hours and ultimately, a requirement to minimize total wage costs (Tsogas, 2001). The results form the excel sheet indicate than scenario 3 will be the best as it is efficient and effective. This scenario allows for a minimum and a maximum number of full time employees per shift to maintain minimum levels of leadership with our customer services staff at all times, reasonable lunch and dinner will schedules and a maximum part time hours contribution of 50 percent. This will ensure a relaxation of the 50% constrain on the hours that will be worked on by part time customer service employees. Based on the requirements of the proposal to develop a minimum cost daily assignment schedule for the customer service employees at the Acme Mexico city star, the table will show a clear indication of how the LP model was developed to achieve optimal efficiency at a minimal cost to the company (DuBrin, 2009). From the table, it is evident that an integer Liner program was developed to address the labor restrictions amongst other consideration that were brought forward. The model used the develop this assignment

North Korea faces an ongoing food and humanitarian crisis. As a State Essay

North Korea faces an ongoing food and humanitarian crisis. As a State Department planner, outline the political pros and cons - Essay Example Hopefully this will give an indication to the regime that the American government has a vested interest in the welfare of the people regardless of the political differences and the relationship between the two countries. Assistance to North Korea can in the long run eliminate the threat of nuclear power by the country. The February 2007 agreement between the USA and North Korea in the denuclearization process within the six-party framework should offer some glimmer of hope to the USA. The rewards given to North Korea such as promises of food and energy support should work towards an eventual change in behavior. Although North Korea is still continuing with their nuclear program the six-party talks and tangible support and promises should be consistent. In January 2009 North Korea hinted that it would curtail its nuclear program if there was an establishment of formal diplomatic relations with the USA, among other stipulations. The ultimate objective of assistance to North Korea should be for the basic human rights reasons. Humanitarian aid should be targeted at the suffering population rather than trying to create an impression on the political leaders. Aid is valuable from the western viewpoint of human rights but should not be expected to change the policies of Kim Jong While on the one hand humanitarian aid will and should benefit the people, it can also unfortunately create some advantage for the ruling regime. The totalitarian nature of the regime makes it possible for any international body to have a direct responsibility on the distribution of aid. Depending on the type of aid this can be manipulated by the political directorate and giving them more strength and power instead of providing relief for the population. History has shown that an increase of humanitarian aid to the country has not deterred the hostilities and attacks on human rights of the citizens. The

Language and Identity Essay Example for Free

Language and Identity Essay Who am I? What is it that defines that personality? Anzaldua argues in her essay that the language is what defines one’s identity. Language is indeed an important component of culture, and culture is known to be a crucial definer of identity. People use language to connect to their identities and communicating their realities and values to themselves and to the world around them†¦ In other words, language is important because people use it to express their thoughts and beliefs. â€Å"People evolve a language in order to describe and thus control their circumstances† (Baldwin 109). Consequently, language does not necessarily define identity as much as identity defines language. People decide on what language to use in order to communicate with their communities according to their identities. One’s identity defines and regulates the use of language and not the contrary. People speak different languages; this difference is used to identify and distinguish between different people, different ethnicities and races. The human need to belong to a group makes them abide to a specific language and dialect that represents their specific community and differentiate it from the rest. Language is what connects people to their communities; they are directly connected to people who speak the same language as them. Anzaldua argues that â€Å"Ethnic identity is twin skin to linguistic, I am my language† (Anzaldua 136), which strongly supports the fact that language is used to ensure that people belong to group. Talking the same language and using the same expressions defines to which group people belong to, it also evaluates the truthfulness of the affiliation. â€Å"Until I can take pride in my language, I cannot take pride in myself†, which basically states that language shapes one’s identity. This statement however, does not apply to all situations and communities and is certainly not constant. There are people who cannot identify to a specific group but rather to a variety of communal affiliations. Most people speak multiple languages; each language connects them to a specific culture and group of people. Tan clearly mentions in her story that she had to speak two different languages to her Asian mom who had her own made up English. Tan relates to both her Asian descent and American belongings by using her mom’s made up English to speak with her mom, and uses the proper English to give lectures and speak to most Americans. On the same grounds, Anzaldua learned through her life experiences to frequently use multiple types of English, and many other Dialects of proper Spanish and Mexican Spanish. She uses each language to communicate, connect and affiliate to specific people according to their background. This proves that the assumption that language defines culture and identity fails. What happens to the people who speak many languages, do they not get the benefit and pride of belonging to a certain community? Rather the contrary, they belong to multiple communities and they choose which group they want to communicate with and with which language. People have the ability to switch from a language to another to be part of a group and this supports the idea that identity defines and shapes language, and not the opposite. Language is used as a way to identify with people, but it is also used to distinguish between them. People use language to differentiate between people and associate them to a specific culture and community according to the language they speak. America is known for having a diverse population, and people are identified based on their language; Mexicans can be recognized to be Mexicans because of their accents even though they might be Caucasian. Tan argues that her mom spoke broken English that limited the people’s perception of her capacities. â€Å"People in department stores, banks, restaurants, did not take her seriously† (Tan 144)which strictly proves that people who do speak the proper language of the specific group they happen to be in generates a different treatment than that a true English speaker. Baldwin denounces that black Americans are treated differently than white Americans because they speak English with a different accent. When speaking â€Å"Black English, you have confessed your parents, your youth, your school, your salary, your self-esteem, and, alas, your future† (Baldwin 110) according to Baldwin. People associate language with background which then leads to choose to treat that specific person a talk to him a way they associate with the people who speak that exact same language. In this case, for the minority, it is language that assumes their behavior, but for the other dominant group, it is identity that shapes behavior. It is their identity that tells them that a specific language must be allocated with that specific type of person and then treat them in the way it is conventions set. People speak a specific language because it is in their identity to do so, and they choose to treat people differently according to language. This allows me to conclude that identity defines language, and language triggers behavior. Language is a major crucial component of our everyday life; it is used to differentiate between different categories of people, connect with one each group, and then choose how they will address those people. People argue that it is language that defines which type of person you are and shapes your identity. The arguments and the authors I quoted obviously proved the contrary, and stated that it is one’s identity that sets up and decides on the language used. References: Anzaldua, Gloria.  «How to Tame a Wild Tongue. » Nancy R Comley, David Hamilton, Carl H Klaus, Robert Scholes, Nancy Sommers, Jason T ougaw. Fields of Reading. New york : Bedford/ St. Martins , 2010. 131-141. Baldwin, James.  «If black english Isnt a language, Then Tell Me, What is. » Nancy R Comley, David Hamilton, Carl H Klaus, Robert Scholes, Nancy Sommers, Jason Tougaw. Fields of Reading. Bedford/St. Martins, 2010. 109-113. Tan, Amy.  «Mother Tongue. » Nancy R Comley, David Hamilton, Carl H Klaus, Robert Scholes, Nancy Sommers, Jason Tougaw. Fields of Reading. New York : Bedford/St. Matins, 2010. 142-147.

Cultures :: essays papers

Cultures Culture is something that is very stable but it is still something that is subject to change. There are different causes to change including accidents or the unexpected outcome of events that are already in existence. Sometimes it is also the attempt to solve a perceived problem. Change can also be forced upon a group through intense contact between two societies. Adaption and progress are both consequences and not causes of change. The ultimate source of all change is innovation. This is any new practice, tool, or principle that gains widespread acceptance within a group. A primary innovation is a change that involve the chance discovery of a new principle. A secondary innovation results from the deliberate application of known principles. A great example of primary innovation is the firing of clay which makes it permanently hard. Modeling the clay to be fired by known techniques into familiar objects. Primary stimulate other inventions and may prompt rapid cultural change. Diffusion is known as the borrowing of cultural elements from one society by members of another. Borrowing is so common that the North American anthropologist Ralph Linton suggested that as much as 90% of a culture is accounted for by borrowing. The Pilgrims that settled in New Plymouth might have starved to death if it wasn’t for the Indian Squanto which showed them how to grow crops. There is a creativeness behind the borrowing, picking and choosing from multiple possibilities. Most of these choices are made to be compatible with the already existing culture. Cultural loss has to do with the abandonment of some trait or practice with or without replacement. People think of change as an accumulation of innovations: adding new things to those that are already there. When reflected upon you come up with the conclusion that the existence of a new innovation leads to the loss of an older one. This in not only a feature of Western Civilization. In biblical times chariots and carts were in Widespread use but were replaced by camels because they worked better by the 6th century. Acculturation is the occurrence of two groups of different cultures coming into intensive firsthand contact with each other. An element of force is usually involved directly or indirectly. There are other variables which include the degree of cultural difference; circumstances, intensity, frequency, and hostility of contact; who is dominant and who is submissive: and whether the nature of the flow is reciprocal or nonreciprocal.

Don Delillo’s Videotape Essay

The plot of Don Delillo’s Videotape is strange enough as it is; a twelve year old girl is playing with a video camera while in the back seat of their family car. Thinking it is fun to do so, she points the camera out the back window and starts recording the man driving the car behind them. It is not long before the girl and her video camera become witness to the man being fatally shot, and her video becomes widely publicized thereafter. The introduction of the story is with the role of the twelve year old girl in the entire structure of the story. How she gets involved, and the after-effects of her involvement all form the basic concepts and structure of the story. Careful readers will note several complications within the storyline itself that develop surrounding the young girl. The first is her reaction to keep the video camera running even during the actual shooting itself. Being in the process of witnessing a murder in cold blood, the child is faced with the conflict of stopping the recording or satisfying a morbid fascination to continue watching. Ultimately, the child is unable to resist, possibly because of the curiosity that comes with the experience of seeing something new. However, Videotape does not just focus on the child and her story. It tells of the people watching it on television afterwards, specifically of a couple’s reaction to it. In the story, while the wife seems relatively uninterested in the real-life drama going on in the video, the husband displays the same morbid fascination with the murder similar to that earlier demonstrated by the child. The irony of the situation is such that while the idea of seeing the murder of a fellow human being in real life is repulsive enough, seeing it in a different form seems to effectively change the circumstances surrounding it, making it acceptable even. The conclusion of the story ultimately reveals the unfortunate side of man that revels in others’ loss when presented in a manner so usually associated with mass entertainment.

The Global Financial Crisis and the Imf

Table of Contents 1. 0 Objectives2 2. 0 Introduction2 3. 0 Types of Financial Crisis2 3. 0. 1 Banking Crisis2 3. 0. 2 Speculative Bubble3 3. 0. 3 International Crisis3 4. 0 Causes of the Financial Crisis 2007-20083 4. 0. 1 Loose Monetary Policy. 3 4. 0. 2 Global Imbalances. 4 4. 0. 3 Credit Boom. 5 4. 0. 4 Asset Bubble. 5 4. 0. 5 Financial Innovation5 5. 0 Impact of Financial Crisis6 5. 0. 1 Impact to U. S Financial System. 6 5. 0. 2 Economic Growth Rates. 6 5. 0. 3 Personal Finances of US Citizens. 7 5. 0. 4 High Unemployment Rate. 5. 0. 5 Impact on the IMF9 6. 0 Policy Response9 6. 0. 1 Term Auction Facility (TAF). 9 6. 0. 2 Economic Stimulus Act 2008. 10 6. 0. 3 Initial Cuts in Interest Rate. 11 7. 0 IMF Response to the Crisis12 8. 0 Conclusion14 9. 0 References15 1. 0 Objectives Objective of this topic is to giving a scope about the recent global financial crisis 2007 which discussing about the causes and impacts of the crisis and focusing mainly in the United States. Then, it wi ll focus on the policy response of the country towards the crisis.Role of the International Monetary Fund (IMF) is also given attention to understand how it works as the ‘international lender of last resort’. 2. 0 Introduction Financial institutions which play an important role in the economy, act as intermediaries between borrowers and lenders. Channelling of funds to individuals or firm that have bright investment opportunities takes place in the financial markets. Without financial intermediaries, it is difficult for companies to operate business. The economy also cannot operate efficiently if the financial system does not perform the role well.Systematic risk is a risk that could be failures of financial institution that freezing up capital market and eventually reduces the supply of capital to the economy. The United States experienced this systematic failure during 2007 and continues to struggle its consequences until 2009. Financial crisis occur when an economic encounter recession or depression caused by lack of liquidity in financial institution. In this circumstances, financial institutions lose huge part of their value. Financial crisis is not the same as economic crisis which affect the entire economy.A financial crisis can occur in a single sector and not always affect other sectors. The causes of financial crisis are different with the type of crisis. The financial crisis 2007-2008 started in August 2007 as a subprime mortgage crisis concentrated in the United States. The crisis became global but originally started in the financial sector of the United States and soon became global economic crisis. Mostly economies in the world were affected by this crisis because the United States economy can be thought as powerful economy in the world. 3. 0 Types of Financial Crisis . 0. 1 Banking Crisis Banks normally function by providing deposit accounts to people who want to make savings and it can be withdraw anytime. The banks then use these deposits to make loans and charge interest to borrower which are paid over a long period of time. If all the depositors want to withdraw money at one time, the banks will face lack of cash flow and will be bankrupt. This situation is called banking crisis. 3. 0. 2 Speculative Bubble Some people buy stock by speculating the price, hoping that price of the stock will increase in the future.Therefore, if most investor buy stock speculatively, chances that the stock price will increase are be very high. When all the investors want to sell at the same time, then the price will likely to fall. When price of a stock is more than its current price plus dividends and interest, then the stock is said to show a bubble. 3. 0. 3 International Crisis This crisis occurs when a country is forced to devalue its currency. This can happen either because of speculative attack or a country is default in paying its debt. When this occurs, all countries that were trading with this country will be affected .Investors also will lose the value of their investment because the currency has been devalued to lower rate. 4. 0 Causes of the Financial Crisis 2007-2008 4. 0. 1 Loose Monetary Policy. Monetary policy implemented by the Federal Reserve plays an important role in determining the interest rate. It is believed that loose or weak monetary policy implemented by the U. S Federal Reserve is among the cause to the crisis. After the internet or dotcom bubble in 2000, loose monetary policy is applied by the U. S Federal Reserve. The federal funds rate dropped from 5. 8% in January 2001 to 1. 73% in January 2002 and remained low for several years as shown in chart 1. This policy thus encourage U. S consumption, reduced savings and created high current account deficit. The Federal Reserve had made mistake by its decision to keep the federal funds rate too low for too long. The policy therefore responsible for creating the credit boom and housing bubble. In other words, with a low federal fund s target, banks take advantage on cheap funding and made cheap loans available. From year 2000 to 2006, total debt outstanding for the U.S has increased by $13. 5 trillion. The debt to GDP ratio is increased to 350%. This high level of debt made firms and households more exposed to adverse economic shock. Other than that, the Federal Reserve and regulators made mistake in the failure to control the poor underwriting standards in the mortgage markets. The poor underwriting practices can be seen through no down payments, no verification of income, asset and occupation by borrowers. Credit that was widely available suggested poorer loan quality. Chart 1: Loose monetary policy Source: Adapted from The EconomistChart 1 shows that the actual interest rate fell below the Taylor rule, that is the interest rate what historical experience suggest policy should be adapted. The line slopped downward to 1 percent in 2003 to 2004 and then rises until 2006. The Taylor rule line shows what interest rate would have be if the Fed followed the policy that worked well since the early 1980. 4. 0. 2 Global Imbalances. The recent financial crisis happens when there is much liquidity in world capital markets. It is due to the large payment imbalances between the main countries and regions in the world economy.Global imbalances occur when there is huge and continuing current account deficit in the United States. The current account deficit is financed by plenty of flows of capital from emerging and oil exporting countries. As the consequences, the global imbalances encourage financial activity that would not be effective in long time without the development of deep global financial markets. High levels of global liquidity happens when countries such as China built up current account surpluses and foreign exchange reserves, maintaining artificially low exchange rates and a positive saving investment balance.Because of this liquidity level, global real interest rates fell which contribu ted to credit expansion and rising asset prices that drives to the crisis. 4. 0. 3 Credit Boom. Credit boom happens when banks and mortgage brokers encouraged mortgage sales because they earned fees in proportion to the volume of mortgages they wrote. Banks earned large fees by securitizing mortgages, selling them to capital markets in forms of mortgage backed securities (MBS) and collateral debt obligations (CDO). Since banks distributed these mortgages to capital markets as asset backed securities, it has low risk upon the process.Compared to corporate bonds that had low interest rate during the time, these complex and risky products is highly demanded by institutional investors such as hedge fund and insurance companies. Mortgage sales expanded even to those who could not afford them as the banks only focused on earned large fees. When the housing price bubble evaporated or interest rates rose it turned out to be large defaults. Home sales peaked in late 2005 meanwhile home const ruction spending and housing prices decline in early 2006. When the subprime mortgage crisis started in 2007, the entire market began to collapse.The crisis began in the United States, but because the mortgage based financial products has been spread around the world it soon became global financial crisis. 4. 0. 4 Asset Bubble. Another factor to the financial crisis is an asset bubble that leads to unsustainable leverage. Before the start of the crisis, the U. S government implemented a public policy that encourages homeownership. Because of low interest rate, it has led to mortgage lending and households were encouraged by the banks to borrow causing asset (house) price to increase.The borrowing is allowed up to the full value of their property with little regard to their ability to service the debt. Borrowing is encouraged because of the low interest rate made by monetary policy makers. The demand for housing is related to money market interest rates. Thus, the accommodative polic y conducted by the Federal Reserve contributed to the build up of housing demand and asset prices. The term sub-prime mortgage come when lending activities is also approved to people who did not meet the credit requirements that may default to payments. 4. 0. 5 Financial Innovation.Usually, banks and other agents innovate to avoid regulation and boost returns by taking greater risks. When asset prices increase more rapidly, innovation also accelerates as expected gains grow larger. The main innovation is the process of securitization. This complex ‘securitized’ pools of loans promising high returns with low risk. Thus, in the United States, ballooning mortgage loans to riskier borrowers provided the basis for an ever-larger inverted pyramid of structured products. As the housing prices increasing, lenders provide mortgage lending easily.However the mortgage were securitised, that is repackaged and sold as financial instruments to investors for immediate cash. This led t o excessive and irresponsible mortgage lending. The institutions that originated the mortgages such as commercial banks, savings and loans eventually did not holding the mortgages because it has been sold to investors by the investment banks. This innovation has caused massive distortions in incentives and risk management in the financial organizations. It was an instrumental in strengthen the increase in leverage.Starting in 2003, banks involve rapidly in financing activities, investments and hedging operations that hard to assess risks. When asset prices began to fall, financial organization brought down together and spread panic among investors worldwide. This development has caused massive distortions in incentives and risk management arrangements within financial organizations. 5. 0 Impact of Financial Crisis 5. 0. 1 Impact to U. S Financial System. The U. S government has closed 22 banks including Lehman Brothers, Washington Mutual and Indymac.Other than that, it has rescued F reddie Mac, Fannie Mae, Bear Stearns and created a bailout fund around $700 billion to purchase stakes in effected banks. This step is taken in order to restore confidence in the financial markets. However, this $700 billion Troubled Asset Relief Programme (TARP) failed to restore market confidence. Nearly $8. 5 trillion or around 60% of its gross domestic product has been committed by the U. S government to prevent the collapse of its financial system. 5. 0. 2 Economic Growth Rates. The effect of 2007 crisis can be seen clearly on the downturn economic growth globally.As shown in Figure 1, countries in the world are experiencing a downturn in economic activity as the effect of financial crisis. These declines in economic activity have been followed by losses of trillions of dollars in equity markets and a credit squeeze that are affecting households and businesses worldwide. Financing activities such as world trade and oil exploration has been slow during the time of crisis. As sho wn in chart 2 below, real growth rate measured by GDP across the world has been decreased. Real growth rate in reported by the World Bank is 3. 9% in 2007 dropped to 1. 3% in 2008.As the crisis became worsen, economic growth dropped much lower rate to -2. 2% in 2009. The U. S economy has a large proportion in world economy therefore it has slightly similar trend in the growth rate. The U. S real growth rate in 2007 is 1. 9% dropped to -0. 4% and -3. 5% in 2008 and 2009 respectively. Chart 2: GDP – real growth rate (%) Source: Adapted from World Bank data 5. 0. 3 Personal Finances of US Citizens. People have struggled to repay their debts as the direct consequences of the financial practices that produced the crisis. The value of house dropped dramatically for individuals who owned house before the crisis broke out.This caused some people repaying mortgages that are worth more than the current value of their house. Eventually, many people ended up losing the house that they bo ught in years before the crisis broke out. There were high rates of foreclosure in some area of the United States as borrowers cannot repay the loans. Other than that, individuals in the US also suffered from the loss of growth and income that their savings and investments would have produced. This is because interest rates for savings have dropped sharply. Investors and companies experiencing losses as the stock in many companies dropping rapidly.Retirement plans that are usually based on mutual funds and performance of the stock market results not as they had planned as the stock market crashed. They may need to work longer or retirement plans is less than expected before. Moreover, it has become more difficult to borrow money. While expensive loan services have been expanded, people find it hard to obtain low cost loans or credit cards. 5. 0. 4 High Unemployment Rate. The US gross domestic product which is the total amount of goods and services produced by the country was reduced as the effect of the crisis.Companies in the country struggled to cope with the crisis, however lots of people have lost their jobs. Based on chart 3, the uneployment rate grew from 4. 7% in 2006 to 10% in 2010 which was the highest rate in the last few decades. In addition to lose income, unemployment made it worse for many people because it has become difficult to find new job. Many companies are not willing to hire new employer and even a fresh graduates have to compete to find employment. This become a serious problem for many young citizens in the country. Chart 3: Unemployment rate in the US Source:Adapted from U.S. Bureau of Labor Statistics 5. 0. 5 Impact on the IMF The damage caused by the financial crisis is a challenge for the IMF. This is because, its financial resource is not in line with the global economy over the past decade. The United States and other advanced industrial economies are at the center of the crisis. However, the IMF would not have enough resources to provide financial assistance if these countries seek for help. Therefore, the IMF resources need to be increase or the risk would become worse in the future. 6. 0 Policy Response 6. 0. 1 Term Auction Facility (TAF).The Term Auction Facility is introduced in December 2007 so that banks can borrow from the Fed easily. Thus the banks can bid directly for funds from the Fed. This is because investors are not willing to lend when afraid about the condition of many financial institutions affected by the crisis. Consequently bank funding markets were put under severe pressure. The main objective of the TAF was to reduce the spreads in the money markets and in that way increase the flow of credit and lower interest rates. As a result, the TAF helped by encouraging the distribution of liquidity when bank funding markets were under stress.The spread between the London interbank offered rate (Libor) and the overnight indexed swap (OIS) for loans of one-month maturity or longer increased to un usually high levels in the late 2007. It is believed that the increase in the Libor–OIS spread is caused by the heightened risk perceived by investors at the time. Since Libor affects interest rates on a wide variety of loans and securities (for example, home mortgages and corporate loans), the sudden spike in the spread was disruptive to the debt market and negatively affected the economy.The chart 4 and the table below also showed six announcements related to the TAF program. Chart 4: The TAF facility provided term funding through periodic auctions to eligible depository institutions. By providing term funds to banks at regularly scheduled auctions, the TAF may have assured lenders of continued access to future funding and thereby reduced their uncertainty regarding anticipated funding needs. The TAF was a facility designed by the Federal Reserve during the crisis to improve liquidity conditions in various asset markets that is crucial to improve short term funding market. . 0. 2 Economic Stimulus Act 2008. The Economic Stimulus Act 2008 is a response made by the government through several package totalling over $100 billion to individuals and families in the United States. The economic stimulus is designed to boost the U. S economy and prevent further recession. In this programme, the government provide tax rebates to low and middle income taxpayers and tax incentives to stimulate business investment. The purpose of the incentives is that the people will have more money to spend thus increase consumption and the economy.By doing so, the government would expect that it will recover the economy. However it is not as hoped because they spend little although the incentives were given. This can be shown through chart 5. The top line shows personal disposable income increased at the time of rebate. However, the lower line shows consumption did not increase as expected. Chart 5: Increase in income 6. 0. 3 Initial Cuts in Interest Rate. The third policy resp onse to the crisis is sharp reduction in the federal funds rate. When the crisis began in August 2007, the rate was 5. 25% and went down to 2% in April 2008 due to the cut.The lower interest rate then reduced the size of adjustable rate mortgage that was cause of the crisis. The most significant effect of this response is the depreciation of dollar and rise in oil price. In the early 2008, oil price increased almost two fold from $70 per barrel in 2007 to over $140 per barrel. High oil price hit the economy as gasoline price increased dramatically and automobile sales plunged. On the other side, the policy reduction in the federal funds rate that cuts interest rate helped raise oil and other commodity prices thus prolonged the crisis. Exchange rate also has influence to the rise of oil price.As shown in chart 6, reduction of the federal funds rate at top line in July 2007 drives the oil price at the bottom line upward until July 2008. Chart 6: Cut in interest rate and increase in oi l price 7. 0 IMF Response to the Crisis The main role of the IMF is to identify the risks that threaten global economic and financial stability and to develop policy responses. The IMF has a worldwide membership and its mandate is to promote economic and financial stability. It is has been provide forum for discussion of international economic issues and help to reach solution on policy responses.In response to the financial crisis, the IMF boosted their lending to developing countries to help them cope with the crisis and to sustain the economic recovery. To meet ever increasing financing needs of countries hit by the global financial crisis and help strengthen global economic and financial stability, the Fund has greatly expanding its lending capacity since the start of the global crisis. It has done so both by obtaining commitments to increase quota subscriptions of member countries and securing large temporary borrowing agreements from member countries, including recent pledges of $456 billion.Countries affected by the crisis can borrow funds from the IMF. Other than that, there is also debate about reforming the IMF. The reformation issues focus on the need to balance the traditional functions of providing short-term financial assistance and promoting external balance stability in member countries. To achieve the objective, there is a need for a wider responsibility of crisis prevention, supporting financially for countries that, although not suffering actual reserve shortage, are in danger of external shocks and liquidity runs. This measure would prevent more severe impact to member countries as the effect of financial crisis.Since year 2008, the Fund has introduced effective instruments to prevent sudden falls in investors’ trust and the eruption of liquidity crises. As a result, borrowers were able to cope with the global crisis, avoiding large scale banking crises and disruptive exchange rate movements and protecting social spending. To prevent the crisis, the IMF has lending arrangements signed by the IMF and low and middle-income countries during the crisis. These lending arrangements take part from January 2008 and June 2010. The size of the loan arranged by the IMF is larger for country that is more exposed to the crisis especially for large country.As a result this measure can prevent more severe contagion of the crisis to other countries. 8. 0 Conclusion The U. S. economy has suffered a few major shocks in recent years during the crisis. At the start, these shocks include a large declining in house prices and a spike in the prices of oil and other commodities. The decline in house prices reduced the value of mortgage backed securities. Because of leverage, this threatened the ability of many of financial institutions, including major investment banks. These shocks have combined to put the U. S. conomy and many economies throughout the world into a global financial crisis and a deep recession. It is likely the worse since the Great Depression in 1930sRegulatory failure is a main responsibility for the crisis. It is shown that weak regulatory in the financial system leaving the consumers inadequately protected. To cope with this crisis, the IMF had played an effective role. It has come out with a financial assistance by providing loan arrangements to the member countries. However, the financial crisis of 2007 therefore raises doubts in faith of the world financial system and in free enterprise.The financial system has to take appropriate measures and reform to improve the situation in the future. 9. 0 References Acharya, V. V. , Philippon, T. , Richardson, M. , & Roubini, N. (2009). The Financial Crisis of 2007-2009: Causes and Remedies. Barrell, R. , & Davis , P. E. (t. t). The Evolution of the Financial Crisis of 2007-8. National Institute of Economic and Social Research. Blundell-Wignall, A. , Atkinson, P. , & Lee , S. H. (2008). The Current Financial Crisis: Causes and Policy Issues. Financi al Market Trends OECD, 1-21. Campello, M. , Graham, J. , & Harvey, C.R. (2009). The Real Effects of Financial Constraints: Evidence from a Financial Crisis. NBER Working Paper Series. Carmassi, J. , Gros, D. , & Micossi, S. (2009). The Global Financial Crisis: Causes and Cures. Journal of Common Market Studies, 47(5), 997-996. Cecchetti, S. G. (2009). Crisis and Responses: The Federal Reserve in the Early Stages of the Financial Crisis. Journal of Economic Perspectives, 23(1), 51-75. Crotty, J. (2008). Structural Causes of the Global Finacial Crisis: A Critical Assessment of the ‘New Financial Architecture. Didapatkan dari http://scholarwork. mass. edu/econ_workingpaper Driehaus, R. H. (2010). The Crisis of 2008 and Financial Reform. Qualitative Research in Financial Markets, 2(3). doi:10. 1108/17554171011091728 Goodhart, C. A. (t. t). The Regulatory Response to the Financial Crisis. 2009. Didapatkan dari http://hdl. handle. net/10419/26302 Hellwig, M. (2008). Systematic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage financial Crisis. Ivan, P. (2008). Financial Crisis 2008. Saw Centre Financial Studies No. 5. Merrouche, O. , ; Nier, E. (2010). What Caused the global Financial Crisis? Evidence on the Drivers of Financial Imbalances 1997 – 2007. IMF Working Paper. Mishkin, F. S. (1999). Global Financial Instability: Framework, Events, Issues. The Journal of Economic Perspectives, 13(4), 3-20. Didapatkan dari http://links. jstor. org/sici? sici=0895-3309%28199923%2913%3A4%3C3%3AGFIFFEI%3E2. 0. CO%3B2-D Obstfeld, M. , ; Rogoff, K. (2009). Global Imbalances and the Financial Crisis: Products of Common Causes. Reinhart, C. M. , ; Rogoff, K. S. (2009). The Aftermath of Financial Crises. NBER Working Paper Series. Rogoff, K. (1999).International Institutions for Reducing Global Financial Instability. Journal of Economic Perspectives, 13(4), 21-42. Didapatkan dari http://links. jstor. org/sici? sici=0895-3309%28199923%2913%3A4%3C21%3AII FRGF%3E2. 0. CO%3B2-3 Sanford, J. E. , ; Weiss, M. A. (2009). The Global Financial Crisis: Increasing IMF Resources and the Role of Congress. Congressional Research Service, 1-19. Sikka, P. (2009). Financial crisis and the silence of the authors. doi:10. 1016/j. aos. 2009. 01. 004 Taylor, J. B. (t. t). The Financial Crisis and the Policy Respenses: An Empirical Analysis of What Went Wrong. 2008.

Free Essays on The Evolutionary Step In Communication

, a â€Å"cave man†, an upper Paleolithic Homeo Sapien- Sapien, found an existing shape in his â€Å" sacred space†, saw the similarities between that and of an animal, like a bison, and decided to trace around it in ochre. Hence the recognition of a shape and the literal transformation of something real into a picture to convey a message to the collective. After this, the identification, the idea of making an image evolved to something more of a document. For example, later cave paintings are not of the naturalistic form, but rather formalized animal drawings (Cooke, 15). Rather than seeing a pre-existing form, man is creating from his imagination, not literally creating something, but the idea being lent from the indigenous animals of the region, of course not limited to animals, but primarily concentrated on (Coke, 105). Showing us that man was trying, or was indeed, comunicating through the use of images. I know I am leaving out other steps in the evolution of this idea, but it is clearly too broad of an investigation, if I were to go in that direction. None of my instances are to be examined in one place. They are a collective evaluation of the start of communication and how the man who gave birth to this idea of an image, interprets it as a phenomena of some greater deity. The very first cave paintings represent the first existence of the modern day man, in terms of thinking (Bataille, 12). The homeo- sapiean- sapiean was very similar to the modern day man. In the upper Paleolithic time period, man lived in an unconscious state, but was not with out understanding, he perceived his environment in a naà ¯ve manner (Lommel, 12). When creating something as revolutionary such as a representation of something in reality, he feels a vigor and freshness. Meaning, this new idea of drawing, is subject to interpretation. The interpretation of use and the interpretation ... Free Essays on The Evolutionary Step In Communication Free Essays on The Evolutionary Step In Communication The earliest forms of art were naturalistic, or in other words, a â€Å"cave man†, an upper Paleolithic Homeo Sapien- Sapien, found an existing shape in his â€Å" sacred space†, saw the similarities between that and of an animal, like a bison, and decided to trace around it in ochre. Hence the recognition of a shape and the literal transformation of something real into a picture to convey a message to the collective. After this, the identification, the idea of making an image evolved to something more of a document. For example, later cave paintings are not of the naturalistic form, but rather formalized animal drawings (Cooke, 15). Rather than seeing a pre-existing form, man is creating from his imagination, not literally creating something, but the idea being lent from the indigenous animals of the region, of course not limited to animals, but primarily concentrated on (Coke, 105). Showing us that man was trying, or was indeed, comunicating through the use of images. I know I am leaving out other steps in the evolution of this idea, but it is clearly too broad of an investigation, if I were to go in that direction. None of my instances are to be examined in one place. They are a collective evaluation of the start of communication and how the man who gave birth to this idea of an image, interprets it as a phenomena of some greater deity. The very first cave paintings represent the first existence of the modern day man, in terms of thinking (Bataille, 12). The homeo- sapiean- sapiean was very similar to the modern day man. In the upper Paleolithic time period, man lived in an unconscious state, but was not with out understanding, he perceived his environment in a naà ¯ve manner (Lommel, 12). When creating something as revolutionary such as a representation of something in reality, he feels a vigor and freshness. Meaning, this new idea of drawing, is subject to interpretation. The interpretation of use and the interpretation ...

By 1918 there was general agreement that a League Essays - Structure

By 1918 there was general agreement that a League of Nations should be established. The key articles of the actual covenant (constitution) spelled out the role of the league in identifying and addressing threats to peace, the settlement of disputes, and the imposition of sanctions against states violating international agreements. These articles occasioned limited disagreement. Participating nations also generally agreed that the league should be made up of an executive council, a deliberative assembly, and an administrative secretariat, but they disagreed over the exact function and makeup of these bodies. In an early draft of the covenant, membership of the council was restricted to the Great Powers and any smaller nation-states that the Great Powers chose to invite. However, the formulation that eventually prevailed designated the Great Powers as permanent members of the council while small powers had nonpermanent membership. The operation and membership of the assembly, which was the model for the General Assembly of the United Nations after 1945, was also a subject of some debate. In fact, its overall operation and significance was really only worked out in subsequent years. The administrative secretariat, set up as a coordinating and administrative body, was a less divisive issue. Its power was grounded entirely in the council and the assembly. The headquarters of the league were in Geneva, Switzerland, where the secretariat prepared reports and agendas. The assembly, which was made up of representatives of all the member governments, set policy and met on an annual basis. Britain, France, Italy, and Japan held permanent membership in the council, which met more regularly than the assembly. All decisions taken by the council and the assembly had to be unanimous if they were to be binding. The league also included a number of subsidiary organizations. One of these, the International Labor Organization (ILO) was a specific response to the Russian Revolution . It was hoped that the ILO would appease some of the more radical tendencies within the trade union movement in various parts of the world and curtail the attractions of international communism. A Permanent Court of International Justice was also set up, as well as a range of commissions that dealt with issues such as refugees, health, drugs, and child welfare. At the time of its foundation in 1919 the league had forty-two member governments. This increased to fifty-five by 1926; however, the failure of the United States to become a member contributed significantly to the decline of the organization by the 1930s. Meanwhile, Germany only became a member in 1926 and withdrew in 1933, while the Soviet Union was only a member from 1934 to 1939. The Japanese government departed in 1933, and the Italian government ended its association with the league in 1937.

Ressource Management Essay Example | Topics and Well Written Essays - 1000 words

Ressource Management - Essay Example This paper aims at discussing strategies that are involved in sourcing, budgeting processes as well as financial reporting requirements adopted by Tesco PLC, a UK based supermarket that deals with various kinds of products. Sourcing Apart from dealing with food products and Tesco mobile among other brands, Tesco PLC deals with selling and distribution of safety equipments such as gumboots, oil resistant boots, helmets, ear plugs, overalls and dust coats among others. Majority of our customers are entities dealing with manufacturing of all kinds of products as well as flower farms. Based on the need to maintain safety in all work places and be in line with Occupational Safety and Health Administration (OSHA) safety requirements, majority of firms offering products as well as services have continued to order from us thus increasing our sales. Tesco PLC has outsourced the process of manufacturing most of our products to a neighboring firm. Outsourcing refers to the contracting of a firm ’s business activity to a third party. ... The second advantage is that the company is able to share the risks arising. Another advantage of outsourcing is that the company does not incur the costs of hiring production machine or purchasing them. Likewise, we are able to concentrate with our core business of selling and marketing of our products making the relationship with our client’s stronger. Disadvantages of outsourcing our services Although Tesco PLC emulates outsourcing, the company is faced with some disadvantages. First is lack of customer focus by the company we have outsourced to. Based on the fact that the company manufacturers products for various companies dealing with safety gadgets, it may lack complete focus on the quality of our brands2. Additionally, sometimes there is a delay in the delivery of the final products to Tesco PLC premises an issue that has caused us to lose some loyal customers3. Despite the disadvantages, our organizations objective is to outsource its production process for the next 3 years after which it will establish its own production department. Budgeting processes Tesco PLC.has established accounting department that undertakes the budgeting process under the leadership of a senior accountant. The company maintains a cash budget. The cash budget entails an expansive plan of future cash flows. In order to ensure that the company liquidity is maintained at a recommendable state, four items are covered by the cash budgets. These includes cash receipts, cash disbursements, net change in cash for a particular period of time as well as new financing needs. The accounting department undertakes six processes in its annual budget preparation. Automating: This department uses excel spreadsheets with formulas that are used to compute