Wednesday, October 30, 2019
How William Wordsworth's poem She dwelt among the untrodden ways Essay
How William Wordsworth's poem She dwelt among the untrodden ways demonstrates how love elevates a person's importance and beau - Essay Example The poem is composed of three stanzas with rhyming words although the rhymes were not consistent like in the second stanza where ‘tone’ and ‘one’ are not rhyming words as opposed to ‘eye’ and ‘sky’. Such use of rhymes has set a tone that captures the reader’s thoughts to the picture the poet painted in his poem as he wove his words to express his thoughts and feelings towards his subject. Reading the poem aloud also emphasizes the effect of the rhymes in the poem, guiding the reader when to use peaks and valleys when reading orally. Though the poem is a short one, it has basically used a lot of the elements of poetry in addition to the one aforementioned. Symbolism is another strong element used in the poem that added to the beauty and depth of the meaning of the poet’s words. An example of which would be the use of the word ‘springs’ in the first stanza which connotes wisdom and life-nurturing elements. T he woman who is the subject in the poem might have been an ordinary person who lived an ordinary life but to those who have lived with her, saw her as a spring or source of wisdom and nurturing that her physical features were surpassed by those which were beautiful from within her. Metaphorically, the woman was compared to a violet that is hidden from the world’s view.
Monday, October 28, 2019
Ohio Public School Funding Essay Example for Free
Ohio Public School Funding Essay Ohio public school funding is complicated. Funding of public schools in Ohio is trough states combination i. e. federal government contributing about 6 percent, Ohio state 44 percent while the local tax account to more than 50 percent. The formulas for school funding are provided by the state and this determines the amount that is received by each district. As a result more wealthy districts often raise more amounts than less wealthy districts. On the other hand the state set up the guaranteed amount that each district is supposed to raise and these amounts are not based on the actual expenses that are used to fund the schools (Brandt, 2003). The delegation of responsibilities of funding to local districts and heavy reliance on property tax in Ohio, have contributed to inequalities for school children across the country From the time the first decision was released in 1997, there have been substantial benefits, although the decisions from the Supreme Court have not been enforced. In this regard this paper will focus on the system of school funding in Ohio State and how the public and supreme court has responded to the system. In addition the paper will focus on the current plans of funding, Ohio school expenditure and potential solution to the system (Brandt, 2003). Public school funding in Ohio The system of funding of public schools relies much on local districts property tax and this has resulted to big differences since the system depends on the amount of money the district is able to raise. The system has caused problems for the poor suburban, rural and even urban schools. For example, in 2003, Coshocton County raised only 7,529 US dollars while Cuyahoga County was able to raise 17,735 US dollars of school funding from the property taxes and state. There are inequalities and some public schools use Xeroxed copies or outdated textbooks. Some of the buildings in which the school children attend their classes have been condemned. Other school struggle to raise money to cater for basic needs such as paying school librarian. Some individual say that the problem is due to lack of care that is exhibited by poor schools. However, considering the efforts people make ion paying tax, individuals in poor districts contribute large portion of money that they have but they are not in a position to raise as much money as the wealthy districts. In addition wealthy districts have valuable properties that fetch a lot of money as compared to poor districts. The state of Ohio spends a large portion of its tax on private schools. These private schools that are owned by private companies aims at making profits and do not care a bout the local tax payers. In Ohio when the value of the properties increases the state decrease it’s funding. The states assume that the tax from the properties is directed to school funds. On the other hand public schools do not realize increase of funding since local taxes are normally fixed at the property value at time of last levy. Due to the gross inequalities DeRolph Dale, along with several district schools filed a case against Ohio State in 1991, and stated that the system of funding that is used in the country is unconstitutional. The supreme court of Ohio State began to investigate this system and resulted to establishment of major decisions of the Supreme Court. In 2001, the Supreme Court declared the system as unconstitutional, and directed the general assembly to provide solution (Walker, 2005). Since that time Supreme Court made ruling on the funding system the state has responded by establishing numerous legislations in order to solve the problems of the funding system. However, the problems in funding system still exist and the state has been unable to solve them. When the first decision of Supreme Court was released in 1997, the senate president said that the Supreme Court cannot enforce its rules. In 2001, the president said that Ohio State has no money and therefore Supreme Court has problems (Phillis, n. d). On the other hand following the ruling of Supreme Court there is a great dramatic impact in the funding of public schools in Ohio and many public schools are being constructed and the existing schools renovated. Before 1997 the state did not have priorities to support public schools. In 1997 the decision of DeRolph I influenced the state to support public schools and since then it have provided more than five million US dollars. Capital appropriation in the state of Ohio since 1997 for school facilities is as shown below.
Saturday, October 26, 2019
Relations Between Women In The 18th And 19th Centuries. Essay -- essay
Relations between women in the 18th and 19th centuries. Theme: Relations between women in the 18th and 19th centuries. Thesis: Relationships between women in the nineteenth century America created a web of love and support for women. Mothers and daughters, sisters and friends from childhood formed emotional and sometimes physical bonds that lasted lifetimes. These ties were acknowledged and easily accepted in their societies. Many women survived unthinkable hardships such as geographical isolation, child birth, and loss of children because of the unconditional love found in their relations with other women. I.      Introduction A. Female friendship of 19th century not really studied before B. Abundance of evidence suggests very strong emotional ties between women.      C. All types of relationships are suggested from sisterly love to passion      D. In this world men are hardly noted II.      Defining and analyzing these relations      A. Question of method and interpretation      B. How to view same sex relations           1.Psychopathology           2.dichotomy between normal and abnormal      C. Viewing within a cultural and social setting      D. Based on the diaries of women from 35 families from 1760s to 1880s           1.Represents brood range of women           2.Middle class III.      Sensual and platonic      A. Sarah Butler Wister and Jeannie Field Musgrove           1. Met while families vacationed; spent 2 years           together at boarding school           2. throughout life wrote to eachother talking of           their deep affection and their anguish when apart           3. Marriage brought physical separation but nor     ... ... friends and relatives were present through the entire process. VII. Conclusion      The relationships between women during this era was core to their lives and survival. Without the love, support, and rituals surrounding their daily lives together, many of the women would not have survived the hardships that often presented themselves in life. Point of Analysis: I feel that the author was a bit long winded in her explanations of some things. There are many things that she repeats. I also feel that she could have presented more about the lives of men. After reading this, I wonder what the men did all day and if they had relationships like this with their friends and male kin. It is a great essay and does show vividly the lives of women during this time Point of Synthesis: This article really helped me to understand the women during this time much more. To see their lives on a much more personal level, and how they socialized really creates a deeper and more personal understanding of women here. Connecting this with their political lives, regional, and religious helps to make the circle complete and create a true understanding of women during this era.
Thursday, October 24, 2019
Paul Muldoon: Biography and Essay :: essays research papers
Oxford and Princeton University professor Paul Muldoon was born in County Armagh, Northern Ireland in 1951 and has been touted as â€Å"the most significant English-language poet born since the second World War†by The Times Literary Supplement. He has also won numerous and prestigious national awards. Therefore, it may come as a surprise to learn that Muldoon grew up in a home with very few books. â€Å"Believe it or not,†he writes, â€Å"the only reading material we had in the house was The Junior World Encyclopedia, which I read and reread as a child. Other books must have come from the local lending library†¦ but the Encyclopedia was my text of texts.†     Muldoon, who is married with two children, has written eight volumes of poetry in addition to many chapbooks, plays and children’s books. His first collection of poems, New Weather, was published in 1973 and his most recent book, Hay, was published in 1998.      As a child, Muldoon began writing poems to get around a teacher’s weekly essay assignment. From there, he says, he just kept on writing. Of the process of writing, he says, â€Å"I do absolutely think of it as a mystical experience.†Muldoon is a poet who is obsessed with the details of the world, and this is evident in his poetry, particularly in the poems of his that I read. I chose to research Paul Muldoon for no particular reason. I don’t particularly like poetry; I can recognize a good and a bad poem, but I can’t for the life of me write one. I prefer to say what I mean, mean what I say, and leave little room for interpretation. Sometimes I think that poets take the easy way out by writing ambiguously about dinosaurs, and then people read and think that the poet is really talking about social injustice or sending their child off to the first day of school, when in fact, the poet just really likes dinosaurs. Sometimes I think that if I wrote a simple sentence about, say, a red wheelbarrow, and chopped it up into lines and told people it was very deep, they’d be impressed. And so that’s why I chose Paul Muldoon. I read a few poems of his, could understand pretty well what they were about, liked how they sounded, and enjoyed that a respectable poet ended a line with â€Å"the.†Plus, I was running short on time.
Wednesday, October 23, 2019
Compare and contrasts of ‘The Soldier’ by Rupert Brooke and ‘Dulce et Decorum est’ Wilfred Owen Essay
Wilfred Owen and Rupert Brooke both share the similar themes within their poems, which are war and death. Although there is unconformity within their views due to their backgrounds and experiences. Brooke was very idealistic, which makes sense when he never actually got to fight in the war as he died shortly before where as Owen went through the genuine experience. Two poems that highlight these two contrasts are ‘The Solider’ and ‘Dulce et Decorum est’. In ‘The Solider’, Rupert Brooke illustrates how a soldier is reflecting on the possible death going away to war may bring. Although from his opinion his death if so was to happen shouldn’t be mourned and his death will be a tribute to his England. When compared to Wilfred Owen’s ‘Dulce et Decorum est’ the views are far from similar. Brooke states dying for your country is honourable where as Owen interprets dying for your country is not all glory and honour and more pain and suffering. Both poets desire different forms to present their poems. ‘The Solider’ is a sonnet which suits Brookes type of poems as he romantises the theme of war ‘The Solider’ is very much as well a love poem to his idealized England. Where as Owen opts for the more simple 8. 8. 11, Owen doesn’t seem to have a solid form as Brookes does. They both share the rhyming pattern of ABABCDCD which allow their poems to flow and create rhythm. The structure ‘Dulce et Decorum est’ can be broken down into three parts, an outsiders description and recollection of events featuring soldiers withdrawing from the frontline, a man within the battle himself, and a addressing to the reader of confrontation to those who share the idealistic view of war. Owens poem creates a build up towards his main point in which he finishes off with ‘The Old lie; Dulce et Decorum est Pro Patria mori’. From Owens experiences ‘Dulce et Decorum est’ acts as a warning and a hit of realism to those who are at home. ‘The Solider’ is a much more relaxed peaceful sonnet. Brookes use of natural imagery creates a more calm aspect of war. ‘Dulce et Decorum est’ features intense imagery as the key of Owens poem is to get across a point of the horrendousness of war. Within ‘The Solider’ Brooke recalls the memoirs of a fallen solider whom declares his patiotism to England by declaring that his death shall be the eternal ownership of England, of a small portion of land he has died upon, Brooke doesn’t have a main structure to his poem as his point is connoted though out the whole of the sonnet. This sonnet canbe split into two stanzas, the first stanza refers to the physical part of the solider and the second a more psychological point of view. Within the physical part the words used refer to things that can physically be touch ‘bore’ ‘shaped’ ‘made’ in the second is more things you cant touch ‘mind ‘thoughts ’ ‘sounds’ ‘dreams’. Both poets use different types of language to get across their ideas. ‘Dulce et Decorum est’ uses harsh and meaningful language. His uses of metaphors creates deeper impact and imagery ‘blood shod’. Owens opening stanza has caracterism of the language about ‘fatigue’, they ‘limped on’, ‘marched asleep’ this connotes pitiful language which intends to reveal the reality of war. Alliteration is used to reflect the agonising of the gas victim ‘And watch the white eyes writhing in his face’. Owen features a shift of register which grabs the readers attention ‘Gas! Gas! Quick, boys!’ this change of register adds more realism and switches the point of view to a soliders. Rupert Brooke uses personification to the word ‘England’, ‘gives somewhere back the thoughts by England given’. Brooke uses pure language within his sonnet such as ‘gentleness’ ‘heaven’ love’ ‘blest’.
Tuesday, October 22, 2019
The Underworld Adventure of Aeneas in The Aeneid
The Underworld Adventure of Aeneas in The Aeneid Virgil imbues his Hades, as well as his Elysium, with a substantiated and understandable raison detre , and in the process corrects the notions of his predecessor [Homer in the Odyssey]. For Virgil, the Underworld must be categorized and organized as well as justified: thus the grouping of the souls of his Hades by reason or nature of punishment.Interaction and Reaction in Virgil and Homer Underworld Issues Here are some of the unanswered questions about the mythology of the Underworld that are left at the end of the nekuia (Underworld scene) of Book XI of the Odyssey, by Homer: Why was Elpenor upset that he hadnt been buried?Why was it said that Tiresias, of all mortals, was permitted to keep a clear head about mortal matters?Why were the shades of the eternally tortured, Sisyphus, Tityos, and Tantalus, near each other? The view of the Underworld presented in the nekuia is alien from modern views of death. Its hard to understand what went on when one adheres strictly to Judaeo-Christian visions of Hell. On this page and the next are some insights into the Homeric Underworld, based on references to Vergil. The Aeneid, by Vergil (or Virgil), was written many centuries after Homers Odyssey. Despite a few centuries, Vergil is chronologically closer to Homer than we are. Vergil is a good model also because he deliberately patterned his work on Homer and elaborated on it, and he lived in a milieu where Homers writing was still very much a part of the common culture since Homer was at the heart of the routine education of children. Therefore, Vergil tells us something about the Greco-Roman (pagan) Underworld that we should know to understand Homers nekuia. The striking similarities and close contrasts between the Underworlds of the two poets make it painfully obvious that Virgil was strongly affected by the ideas instilled in Homers text. How exactly he reacted to this burden, however, and how he attempted to justify his own work and separate it from that of Homer: these are the difficult yet ever-important questions. In re-creating Homers Hades, and in the process facing up to his predecessor, Virgil exhibits clearly his desire to re-work Homer, to complete and perfect the vision of the earlier poet.Interaction and Reaction in Virgil and Homer Reasons for Going to the Underworld HomerOdysseus goes to the Underworld for help getting home.VergilAeneas goes to pay a duty call on his dead father Anchises. Underworld Guidance HomerThe help Odysseus seeks comes from the prophet, Tiresias, in the Underworld and the sorceress, Circe, among the living.VergilAmong the living, Aeneas seeks the guidance of the Sibyl at Cumae, a priestess of Apollo who speaks inspired prophetic utterances. Among the dead, he seeks the counsel of his father. Warnings HomerCirce calms his fears and instructs Odysseus on how to travel.VergilThe Sibyl tells Aeneas how to proceed but warns him that while the trip to Hades is easy, the return voyage is limited to the select favorites of Jupiter. Aeneas must be divinely chosen if he is to return. This isnt all that terrifying a caveat, however, since he will know in advance whether he will be able to make the trip. In order to start the journey, the Sibyl says he must find a golden bough sacred to Proserpine. Should the gods not want him to proceed, he will fail to find it, but he does find it. In the guise of two doves, Venus, Aeneas mother, guides him. Unburied Dead Like Odysseus, Aeneas has a dead companion to bury, but unlike his predecessor, Aeneas must bury him before proceeding to the Underworld because the death has contaminated Aeneas fleet (totamque incestat funere classem). Aeneas does not initially know which of his companions has died. When he finds Misenus dead, he performs the necessary ceremonies. Misenus lay extended on the shore;Son of the God of Winds: none so renowndThe warrior trumpet in the field to sound;With breathing brass to kindle fierce alarms,And rouse to dare their fate in honorable arms.He servd great Hector, and was ever near,Not with his trumpet only, but his spear.But by Pelides arms when Hector fell,He chose Æneas; and he chose as well.Swoln with applause, and aiming still at more,He now provokes the sea gods from the shore;With envy Triton heard the martial sound,And the bold champion, for his challenge, drownd;Then cast his mangled carcass on the strand:The gazing crowd around the body stand.162-175 Slightly different from Odysseus, Aeneas has 2 men for whom he must provide funeral rites, but he doesnt find the second until the Sibyl has taken him to the shores of the River Styx, past the companions of Death: Famine, Pestilence, Old Age, Poverty, Fear, Sleep, and Disease (Curae, Morbi, Senectus, Metus, Fames, Egestas, Letum, Labos, and Sopor). There, on the shore, Aeneas finds his recently deceased helmsman, Palinurus, who cannot cross over until he is given a proper funeral rites. Proper burial is impossible since he was lost at sea.
Monday, October 21, 2019
Black People and Roberta Essays
Black People and Roberta Essays Black People and Roberta Essay Black People and Roberta Essay Essay Topic: Recitatif In Toni Morrison’s Recitatif. the narrative is about two misss. Twyla and Roberta. They grow up in an orphanhood because their female parents could non care for them. Morrison makes it clear the misss come from different cultural backgrounds but neer provinces which one is black or white. At one point in the narrative Twyla remarks. We looked like salt and Piper nigrum. I grew frustrated with the narrative and had to read it several times. I could neer find who was black and white and the lesson I learned should hold been it doesn’t truly matter. The narrative begins with Twyla’s female parent dropping her off at the orphanhood. She meets Roberta and they become best friends. The bond they portion occurs because they were non considered existent orphans. They were abandoned childs unlike the other kids whose parents had died. One of the last times the misss see each other was the twenty-four hours of a trial. On that dark. Twyla’s female parent was have oning those tight green slacks that made her border stick out. Many people have labeled inkinesss as holding larger butts. She could hold been black. she could hold been a heavy white adult female with a big butt. or a Latino adult female like me. But I automatically stereotyped and went with Twyla has to be black. During the trial Roberta’s female parent had brought poulet legs. Twyla notices Roberta does non eat the poulet legs. I ever thought black people liked chicken more than white people which means Roberta was white since she did non eat the poulet. Or possibly she merely wasn’t hungry. Shortly after that trial Roberta’s female parent came to take her place. go forthing the misss devastated. They see each other several times throughout the old ages. At their first meeting. Roberta was ill-mannered and distant because she was high. Roberta tells Twyla she is on the manner to see Jimi Hendrix. Hendrix was an ill-famed black guitar player. I thought at this point Roberta has to be black. However Hendrix’s set was interracial with a diverse audience. Roberta could hold been white due to the diverse audience. I am a immense Hendrix fan and I am non black so why would I believe Roberta is. Twelve old ages subsequently they run into once more at a food market shop. Roberta married a rich adult male and was highly friendly to Twyla. Twyla can non keep back her emotions and asks Roberta about the last clip they saw each other. Roberta shrugs it off. Oh. Twyla. you know how it was in those yearss: black- white. You know how everything was. I can associate to this. In 1980. the Cuban Mariel Boat Lifts came over bring 1000s of Cubans. I am Cuban but I was born here. Kids I had known since kindergarten treated me as if I merely come over on the boats. It had a permanent consequence on me and matured me beyond my old ages. The 3rd clip they meet is at the school where their kids attend. Roberta and other female parents were picketing because they did non desire their childs to be segregated. This led to a battle break uping any last opportunity of a friendly relationship for them as it would non be resolved until Twyla and Roberta meet for a concluding clip. As the narrative ends I do non acquire a sense of closing. The inquiry of which miss is white or black remains unreciprocated. It opened my eyes and made me oppugn how bias I truly am. I try to non pigeonhole as a consequence of what I went through as a kid but I found myself making merely that. I can understand why Morrison wrote the manner she. I am non certain what her end was overall but to me it seemed as if she were learning me about biass. Recitatif challenged me to non judge either girl by their race but accept them for who they are. In the terminal. what difference did it truly do about the girls’ races? The narrative is about how their friendly relationship develops and so deteriorates. Nothing more ; nil less.
Sunday, October 20, 2019
Masters Dissertation Brief Overview
Masters Dissertation Brief Overview As compared to other graduate requirements writing a dissertation or thesis does not have any clearly defined limits, which generally means its content and scope are up to you. If you work systematically and really enjoy the topic, the results will be outstanding. What Is a Masters Dissertation A Masters dissertation is traditionally the final project a graduate student must undertake to complete requirements for earning a Masters degree. A formal document to be submitted to one’s professor, advisor or academic instructor, this kind of dissertation requires thorough research and following a rigid set of guidelines established by the academic institution that the student is attending. As each academic program varies, so will each student’s topic, the research, and the style of Masters Dissertations vary. Since the main purpose of a graduate school for a student is to become proficient in a given topic or subject, the Masters Dissertation has the student completing original research and projects that, by the time he has earned his Masters degree, will have made him a sort of an expert in the given field. DISSERTATION WRITING Completing one involves the student setting research objectives; it takes finding, organizing and analyzing pertinent primary and secondary data, as well as scholarly, credible literature written on the subject, while devising an appropriate research methodology and drawing on published literature on the field which the student is exploring; and, ultimately, using this information to draw his own conclusions. Writing a Masters Dissertation While a doctoral dissertation (see dissertation) requires a student to conduct research and contribute something new and undiscovered in one’s field, the Masters Dissertation has the Masters degree candidate performing research on a specific subject to demonstrate his in-depth knowledge and understanding of a certain subject. Usually, this subject is not broad, but the product of a concentrated effort with a specific, narrowed focus on an issue, or era, subject, topic or person, etc. The students can best understand the Masters Dissertation as an extensive research paper that is meant to incorporate all they have learned and mastered throughout their experience in the Masters program. It instructs the students to use the research of scholars on a subject to provide their own analysis on and discoveries of a topic, demonstrating to the instructor their vast assortment of intellectual, academic and real-world skills as well as their knowledge in organizing and conducting a thoroughly written and researched academic paper. Generally, to be a success and be accepted by the professor, a paper of this sort needs to have very specific components. Its chapters should consist of an introduction, a literature review, justification of the informative data incorporated into paper for analysis, research methodology, an analysis of the data and, lastly, a conclusive section drawing it all together. Ultimately, a dissertation of this genre aims to bind together all the aforementioned elements to closely examine the bigger picture at hand; it has one seeking answers and their explanations while finding comparisons to other notions and arriving at generalizations that could potentially be used to extend a theory. The Masters Dissertation Aims for the Student to: 1. Implement theories, concepts, and notions that one has learned while attending the program 2. Demonstrate one’s independent investigation of topic he/she has decided to study in depth 3. Blend previously understood and accepted theories and suggest alternatives to them 4. Prove the ability to define, design, produce and complete an academically rigorous research project 5. Understand and demonstrate the knowledge of the relationships between the theoretical concepts taught in the Masters-level course and their real-world applications 6. Demonstrate evidence of the critical and holistic knowledge and a thorough understanding of the chosen subject – one in which they are working to exceed 7. Prove he/she possesses the appropriate knowledge and understanding beyond the graduate level and has obtained a level of scope and depth beyond what he/she has been taught in the classroom; the Masters Dissertation should prove a student to be an expert in the given fields. DISSERTATION WRITING SERVICE If you are working on a masters dissertation and need help with it, or if you are just planning to start working on it and dont know how to do it, we are happy to assist. We have provided academic assistance to hundreds of MA/MSc students and have developed expertise in effective dissertation writing. Our writers are experts in what they do. In addition, we will assign your task to the writers with respective background and experience. This will result in your masters dissertations proper language, formatting, recent literature and zero plagiarism. We guarantee that you will enjoy your customer experience at !
Saturday, October 19, 2019
Architecture, Women and History in Saudi Arabia Essay
Architecture, Women and History in Saudi Arabia - Essay Example The Kingdom Centre is the property of Alwaleed bin Talal bin Abdulaziz Al Saud, a prince of the Saudi royal family. Kingdom Centre is situated in Al-Urubah Road between King Fahd Road and Olaya Street in the growing business district of Olaya in Riyadh. In 2002 Kingdom Centre won the Emporis Skyscraper Award and was selected as the "best new skyscraper of the year for design and functionality. The three-level shopping center, which also won a major design award, fills the east wing. The large opening is illuminated at night in continuously changes colors. Besides the shopping mall, the Centre also includes a Four Seasons Hotel and state-of-the-art apartments. The ellipse motif taken from the tower's footprint appears in the light fixtures, ceiling panels, entrance canopy, wastebaskets, and furniture. The Shopping Mall contains 161 prestigious stores. The Al Faisaliyah Center was the first skyscraper constructed in Saudi Arabia, and the second tallest building in the country after the Al-Mamlakah . The golden ball constructed atop the tower is said to be inspired by a ballpoint pen. Inside the ball is a restaurant; at ground level, a shopping center with major world brands. This research project aims to put into context the role of women in Saudi and relating it to general history of the female of the west. Perceiving modern Saudi Arabian architecture and the significance of our visual perception to gender codification is what this historical project attempts to analyse. As gathered by word of the mouth, visual reception of the external shape or architecture of the two building is perceived publicly as food items, namely, a bottle opener and a toothpick. Public opinion as defined by Hegel is: "The formal subjective freedom of individuals consists in their having and expressing their private judgments, opinions, and recommendations on affairs of the state. This freedom is collectively manifested as what is called "public opinion," in which what is absolutely universal, the substantive and the true, is linked with its opposite, the purely particular and private opinions of the Many. Public opinion as it exists is thus a standing self-contradiction, knowledge is thus as appearances, the essential just as directly present as the inessential" 1 Pubic opinion, inspite of being inessential and self-contradictory, is of cultural significance. This expression which presents the essential and the rational reflects a genuine need for correct tendencies in common life in a form of common sense (Hegel: 1952:104). In this context, the sign signifying and pointing to the signified is an indication of a primary concern and at the same time leaves a lot to imagination. In his argument, Hegel also points to the origin of the human desires of enslaving as primarily due to the need for food and sex. In this primary culture one of the Hegelian parameters has dominated the perception of the two buildings. The other parameter is the object of this study. What is the importance of the other Hegelian parameter of desire in reference to this project The role of the feminine is an indication
Friday, October 18, 2019
Women in the workforce Essay Example | Topics and Well Written Essays - 750 words - 1
Women in the workforce - Essay Example Traditionally, some careers are male dominated such as engineering and fire fighting while others such as nursing are female dominated. These assigned on the basis that women show empathy while men are physically stronger. However, there has been a change in legislation and women allowed the careers of their choice. Despite this, women still prefer not to indulge in to some of the male dominions such as fire fighting. Only about 2.5% of all fire fighters are women (Kershaw, par3). However, when supported, they fare as well as their male counterparts. In the case of female involvement in engineering, it has for along time been assumed that they are less involved in engineering because they are poor performers in mathematics. However, a recent study shows that this is not the case. Women are less likely to pursue engineering even if they perform well in mathematics (Angier et al, par15). Dr Summers proposed that this is down women considering the profession as too abstract and dull (he gives an example of buying trucks to his daughter but she treats them like teddy bears) (Angier et al, par33). However, this view rejected on the basis that men treat their cars as if the cars are human (equivalent to the teddy bear treatment of the trucks) (Angier et al, par34). In the present day, there are strict labor regulations that provide for equivalent pay for men and women provided they have the same job description (Farrell, 20). Such legislature is in place for women empowerment and reduction of exploitation and stereotypes against them. However, some employers feel that men and women have a different work out put and go as far as barring their promotion or giving them an inferior wage. Morgan Stanley recently had to pay settlement rather than face a jury trial when faced with a charge of sex discrimination (Mc Geehan, par 1). This is just a high profile case and there are many such cases all
Consumer behavior Assignment Example | Topics and Well Written Essays - 500 words - 1
Consumer behavior - Assignment Example The PBS site has incorporated various things which children require during development period (Comstock & Scharrer, 65). It has materials for education which can persuade the kids to develop appetite for reading. It also has parents and teachers guide that can help children understand what their teachers and parents want from them. This can make children to pursue things that will please their teachers and parents. The site also contains other materials for young people such as DVDs, books, type of cloths they should wear, type of parties they should attend to, and the games they should play. Therefore, these activities encourages children to engage in physical fitness, eating of health food, carrying out their studies and dressing in cloths which are essential for certain occasions like cold weather . The PBS website is welcoming to children and they can easily explore various contents without guidance. It contains images, sounds and colors, which are appealing to children, and has most of the things that developing children requires for entertainment and usual activities such as video, games, learning information and shopping list for the children. According to Comstock & Scharrer (87), many children love cartoons hence the site has used cartoons which entice children to follow the advertisements displayed for them. The mobile cartoon images direct the children on what they want to. The kids may post the question or navigate the site by clicking the cartoon image. This website is well developed to help youngsters to acquire acceptable behavior in the community. The ordinary websites contains a lot of information misleading which is misleading to youngsters. For example they use images of children taking junk foods and enjoying television programs which have no content for the young people. This has resulted to youngsters developing health complications due the improper
Thursday, October 17, 2019
The political economies of Panama and Costa Rica Research Paper
The political economies of Panama and Costa Rica - Research Paper Example Costa Rica & Panama: Basics Costa Rica has an estimated population of 4.6 million as of July 2011 and a growth rate of 1.3% (IndexMundi, 2012). Sixty-four percent of this population is residing in urban centers of which about 94% are white, 3% black, 1% Amerindian, and 1% Chinese (IndexMundi, 2012). Their language is Spanish and the nation has high literacy rate of 94.9% (IndexMundi, 2012). The country allocated 6.3% and 10.5% in health from its GDP in 2009. The nation is located in the border of Caribbean Sea and the North Pacific Ocean. It is adjacent to Panama. Its rich geographic area is blessed with mineral, petroleum, hydropower and commercial resources (IndexMundi, 2012). Panama, on the other hand, has a population of 3.5 million and with a growth rate of 1.5% (IndexMundi, 2012). It has a 0.4 migration per a thousand of populace based and 75% of its people are residing in urban communities (IndexMundi, 2012). Panama has bilingual language: English and Spanish with predominant Roman Catholic religion. The country has allocated about 3.8% of its GDP for education and around 8.3% for health. Panama likewise is blessed with copper. Mahogany forests, hydropower and good shrimp culture among many other natural resources of commercial values. Costa Rica’s Pol-Economy Clare, Seanz and Trejos (2002) pointed that there are empirical evidences showing the decline of Costa Rica’s income per capita in the last decade albeit good economic standing in economic input. Clare et al. (2002) opined that the situation seemed amazing because the 80s to the 90s was the period when the country is undertaking serious reform in trading and fiscal performance. Re searcher attributed this mediocre 0.7% annual growth rate of income per capita to influential factors of development: demographic changes (Clare et al., 2002). The latter meant an increasing figure of labor productivity in industrial and agricultural sectors. Economists posit that such increase in participation in production, particularly women and immigrants from Nicaragua. While increased number of labor forces meant growth of income, however, economic activity is slowed by poor labor productivity. Labor productivity has only reached a poor rate of 1.57% in Costa Rica compared to 3-4% labor productivity in East Asian countries (Clare et al., 2002). Using growth accounting, researchers pointed that slow labor productivity growth is reflected in slight negative growth rate of total factor productivity (Clare et al., 2002). This finding is bit odd because the in the last four decades, multitude of technological advancements are poured in this country to support the labor forces in pr oduction. Further study using sectoral analysis was in fact utilized to determine whether slow growth of productivity is a universal phenomenon or merely underplayed by a particular sector. Oddly, Clare et al. (2002) found that the industrial and agricultural sectors continued to attain high rates labor growth productivity and TFP while the service sector stagnates in the production. Researchers opined that it’s ironic for the service sector to have decreasing production output noting that it’s absorbing a large share of resources. As a matter of fact, the service sector of Costa Rica has been allocated with budget higher than that of Brazil and Chile (Clare et al. 2002). Economists assumed that the service sector have difficulties in capturing its market. In a disaggregate
Reflective writing - Personal and professional development Essay
Reflective writing - Personal and professional development - Essay Example Personal Centered Therapy Personal Centered Therapy (PCT) is one of the theories I have learned in class. From the beginning, I thought that I could put into practice what I had learned about personal centered therapy. However, somehow this has not proved to be an easy feat for me. For instance, I found it difficult to think of its challenges or how I can administer it to a particular client or group. I had to challenge the fact that I could show unconditional positive regard, be emphatic and congruent when having to deal with a client who is a peoadphile. I have always thought it a nightmare dealing with peoadophiles. After taking this course, I have had to question myself and particularly in regard to how my character and beliefs would interfere with the way I administer person centered therapy. CBT (Cognitive Behavior Therapy) In studying cognitive behavior therapy (CBT), I really enjoyed my lectures on various theoretical models. Class exercises on CBT record were great especiall y when learning how to the use of our thoughts and common thinking traps. Person Centered Therapy theory was always interesting to me and after writing my case study on CBT, I got to like the concept and the principles involved. This is because to me, it suits my character as a method of behavioral study. The structure used is practical in nature and applicable to most client groups. On reading the books CBT for Beginners by Jane Simmons and Rachel Griffiths as well as Cognitive Behavioral Therapy with Adults by Stefan Hofmanand Mark Reincke, I successfully prepared for my assignments on this course. Psychodynamic I learnt new and interesting skills while studying psychodynamic psychotherapy. The least favorable theory I learned in the process was psychodynamic approach to counseling. The lecture on psychodynamic theorists challenged my perception and concept of the theory. However, I enjoyed my tutor’s perspective of the various theorists that contributed to this genre. Alth ough I am not a fun of Freudian theories, I was able to relate this theory to that of Melaine Klein and her approach interested me. I must admit that I greatly enjoyed the lessons learnt about psychotherapy and will surely apply whatever I learnt in theory. Assessment-Case Study Our assessment was a case study which proved to be challenging but enjoyable at the same time. It is through this process that I discovered that I enjoy solving problems presented in the form of case studies. I was able to improve my client’s character and use cognitive behavior therapy which was quite encouraging. Using CBT with my client proved to be easy for me as I analyzed and treated her problem, putting theory into effective practice. Through my reading about CBT, I discovered that the therapy is a suitable form of therapy from a multicultural perspective because of its basic nature and how it is practiced. Counseling Skills The lecture on counseling skills reminded me of the basic principles i nvolved in counseling. It also reminded me always to use words which help the clients to tell their stories freely. Initially, I felt that the counseling assessment went well although I always believe in making improvements. However, after receiving the feedback sheet, I felt that it did not reflect the skills I thought I had learnt over the years and this made me feel deflated. I contemplated discussing this with my client as I never wanted to appear confronting. I decided to discuss with my teacher who reassured me that the mark to her was not as negative as I thought it was. I thus felt better about my assessment and I also gained a better understanding of how she interpreted my practical skills.
Wednesday, October 16, 2019
The political economies of Panama and Costa Rica Research Paper
The political economies of Panama and Costa Rica - Research Paper Example Costa Rica & Panama: Basics Costa Rica has an estimated population of 4.6 million as of July 2011 and a growth rate of 1.3% (IndexMundi, 2012). Sixty-four percent of this population is residing in urban centers of which about 94% are white, 3% black, 1% Amerindian, and 1% Chinese (IndexMundi, 2012). Their language is Spanish and the nation has high literacy rate of 94.9% (IndexMundi, 2012). The country allocated 6.3% and 10.5% in health from its GDP in 2009. The nation is located in the border of Caribbean Sea and the North Pacific Ocean. It is adjacent to Panama. Its rich geographic area is blessed with mineral, petroleum, hydropower and commercial resources (IndexMundi, 2012). Panama, on the other hand, has a population of 3.5 million and with a growth rate of 1.5% (IndexMundi, 2012). It has a 0.4 migration per a thousand of populace based and 75% of its people are residing in urban communities (IndexMundi, 2012). Panama has bilingual language: English and Spanish with predominant Roman Catholic religion. The country has allocated about 3.8% of its GDP for education and around 8.3% for health. Panama likewise is blessed with copper. Mahogany forests, hydropower and good shrimp culture among many other natural resources of commercial values. Costa Rica’s Pol-Economy Clare, Seanz and Trejos (2002) pointed that there are empirical evidences showing the decline of Costa Rica’s income per capita in the last decade albeit good economic standing in economic input. Clare et al. (2002) opined that the situation seemed amazing because the 80s to the 90s was the period when the country is undertaking serious reform in trading and fiscal performance. Re searcher attributed this mediocre 0.7% annual growth rate of income per capita to influential factors of development: demographic changes (Clare et al., 2002). The latter meant an increasing figure of labor productivity in industrial and agricultural sectors. Economists posit that such increase in participation in production, particularly women and immigrants from Nicaragua. While increased number of labor forces meant growth of income, however, economic activity is slowed by poor labor productivity. Labor productivity has only reached a poor rate of 1.57% in Costa Rica compared to 3-4% labor productivity in East Asian countries (Clare et al., 2002). Using growth accounting, researchers pointed that slow labor productivity growth is reflected in slight negative growth rate of total factor productivity (Clare et al., 2002). This finding is bit odd because the in the last four decades, multitude of technological advancements are poured in this country to support the labor forces in pr oduction. Further study using sectoral analysis was in fact utilized to determine whether slow growth of productivity is a universal phenomenon or merely underplayed by a particular sector. Oddly, Clare et al. (2002) found that the industrial and agricultural sectors continued to attain high rates labor growth productivity and TFP while the service sector stagnates in the production. Researchers opined that it’s ironic for the service sector to have decreasing production output noting that it’s absorbing a large share of resources. As a matter of fact, the service sector of Costa Rica has been allocated with budget higher than that of Brazil and Chile (Clare et al. 2002). Economists assumed that the service sector have difficulties in capturing its market. In a disaggregate
Tuesday, October 15, 2019
International business in context Essay Example | Topics and Well Written Essays - 1500 words
International business in context - Essay Example One of the recent such examples is that of the Eyjafjallajokull volcano which erupted in Iceland on 14th April 2010, leading to a huge loss of lives and property and a heavy strain on the economic forces of the nation. Due to the volcanic ash cloud, the air travel came to a complete halt leading to several passengers being stranded on airports, affecting several businesses in the process. The manner in which the industries affected by it reacted such as the hospitality industry, the airline sector, as well as various other tertiary sectors such as internet cafes etc reacted to such an emergency is discussed in the paper. The accounts of the tragedy as narrated by Dr. Nigel, of the Oxford Brookes University, is used as a part of this study, to discuss, analyze and understand the impact and consequences of natural disasters on the external factors of organizations; their competitive strategies; the types of organizations affected and the manner in which they reacted; and the element of ethics with regard to the whole scenario, is discussed in the following sections. Impact on the external environment: When the volcano erupted, several industries were severely affected of which the airline industry and the hospitality industry were the hardest hit. ... Consequently, most of the economic activity moved from one sector to another - such as the road and rail transport industries recorded higher bookings while air travel suffered. Furthermore, several other sectors such as travel and tourism, lodgings and boarding etc suffered huge losses, as travellers were unable to reach their destinations. The hotel and hospitality industry, also, benefitted largely, on account of such a calamity, and raised their prices owing to the huge demand for accommodations. There was a significant level of competition amongst various sectors, such as within the hospitality industry. Various hotels had increased their prices while several others offered accommodations at more or less the same prices. Similarly a fierce competition was observed within the airlines and road travel sector. Each of these sectors within different industries were trying to benefit from the losses or setbacks suffered by the other for a greater share in profit. Several passengers w ere unable to leave the island, while several others were unable to arrive. Thus, the hospitality industry was likely to suffer huge losses, as a result of mass cancellations. The industry thus tried to set off its losses by increasing its tariffs and capitalize on the current situation, rather than facing huge losses. Competitive environment: Marketers usually face two types of competition, namely: direct and indirect. The direct competition is faced with respect to similar goods and services such as competition amongst two hotels or two airline companies. The second type of competition, i.e. indirect competition occurs when a good or service can be easily substituted or replaced by the consumer, but has more or less the similar values with respect
Self-esteem and Teen Girl Flips Essay Example for Free
Self-esteem and Teen Girl Flips Essay Sixteen year old Fathima looks at herself in the mirror. She studies her body along with her face and thinks she is extremely ugly. She looks at the television and a popular celebrity appears on the screen with a beautiful face and body. She compares that person to how she looks. She says to herself, Why am I so ugly? Why am I so fat? I want to be beautiful! Good day to one and all. My topic for today â€Å"Celebrities and how they impact on teenagers lives. Living in a technological era, we have access to the tabloids more than ever before. There are television sets, magazine covers, Internet blogs, and movies screaming to be read and watched. When a life of parties, short-term relationships, drugs, and alcohol are leading celebrities like Britney, Paris, and Justin to spiral out of control, you would think that their lifestyle is not ideal. But, fans of these stars disagree. Now, in an age where we have more contact with celebrity gossip than we have ever had, we are faced with a question: what are the effects that superstars have on our youth? . Every day there are more and more stories and pictures on the Internet of the illicit activities of celebrities. Teens see these people partying, drinking alcohol or doing drugs, and they think they should too. This sends the message to teens that in order to have fun or be cool, you have to use these substances. Teens may begin to think that it is no big deal, and this can cause serious problems leading to drug and alcohol addictions, risk-taking behaviors, and even death. The use and abuse of drugs and alcohol is not the only dangerous celebrity influence for teens. Some of the most common problems that occur are issues with self-esteem for teens, especially teen girls. When a teen girl flips through her favourite fashion magazine, she is inundated with pictures and articles revolving around the erroneous belief that celebrities are perfect. The air-brushed pictures, workout and diet tips, and pin-thin models can cause body images issues for teens. In trying to make themselves look like the pictures that they see, teens can cause real damage to their bodies. Working out too much or not eating enough can lead to an eating disorder, such as anorexia or bulimia. Many teens are like Fathima are strongly affected by celebrities. Popular celebrities are always shown on the covers of magazines and on television for teens to view. They look glamorous and beautiful, causing teens to want to be like them. Many teenagers look up to these role models but most of these popular beauties affect teens negatively. They go through extreme measures to become thin and are afraid of gaining weight. Teens also think that by becoming thin they will look beautiful and become popular. Many teens have low self esteem and become quickly swayed by the celebrities looks. So many times they forget that they are beautiful the way they are. They want to look perfect. Either their nose is too big or theyre not skinny enough. These small imperfections cause teens to look at the celebrities and envy them. They strive to lose that extra kilos, but end up losing more than enough. If something cannot be done to make that tiny imperfection better, it leads to dangers, such as suicide. Teens should appreciate the way they look already and be grateful. Many children who face hardship and live with poverty arent even able to look ‘cool if they wanted to. While it is almost impossible to completely remove any negative celebrity influence from your life, you can lessen the effects of celebrities and the media by seeking out positive role models in real life who you can aspire to be like. Try to find people who exhibit qualities you would like to have, such as honesty, optimism and perseverance. It can also be helpful to try to take the focus off of your appearance as much as possible. Remember, that you are not defined by what you look like. What really makes up a person is how you act and treat other people. Thank you.
Monday, October 14, 2019
The Causes of Deficit Financing in Pakistan
The Causes of Deficit Financing in Pakistan The aim of any government is to fulfill the socioeconomic responsibilities in order to break the vicious cycle of poverty and also uplift the economic conditions. In Pakistan it has been practiced that the aggregate of tax collection and no tax collection revenues are not ample to meet the government expenditure. To fulfill the gap between the spending and revenues so the economist used the perception of deficit financing. The government borrowing from banking and non banking sector and printing new currency is called deficit financing. Deficit financing shows the difference between projected expenditure and projected spending. To fill the gap of government borrows from 1) state bank of the country 2) borrow from commercial banks 3) borrows from non financial sector such as saving centers, insurance companies 4) the last source is printing new notes known as deficit financing. Deficit financing is a situation where government spends more money than its revenue collection. Deficit financing is used for different purposes the main purpose of deficit financing is used to end the recession when the economic activity slow down in order to retrieve the economy in the better situation. In the third world countries like Pakistan the deficit financing becomes the requirement due to bad governance, insufficient spending policies, corruption, tax evasion, and insufficient tax collection. In the west the phrase Deficit Financing is used to explain the intentionally create a difference between public revenues and expenditures or the budget deficit. This gap or difference can be filled by public borrowing, commercial banks, and central bank. The idle saving of is used to fill this gap that in turn increase the employment and output of the country. Deficit financing is the most important tool of generating capital in developing and underdeveloped countries. In developed nation the new currency notes are used to support the public investment that in turn increases the growth rate of a country. The government used the borrowed money for the development purposes i.e. railways, roads, air services, social overhead capital, schools, hospitals etc. The deficit financing is also used to increase the economic activity of a private sector in the country. The monetary expansion in developing countries attached with high rate of borrowing from banks and international sources to finance their budget deficit, budget deficit is the one factor that contributes in disequilibrium in the balances of payments. In developing countries governments are unable to mobilize or use their domestic resources due to inefficient tax system, in such countries the capital market are also underdeveloped and the interest rate determines institutionally. In such circumstances the supply of money increase that causes an increase in the price level. There are different sources of financing the economic development; these resources are domestic resources and foreign resources. Domestic resources are those in which the government finances through taxation, public borrowing, and the saving of government that include the surplus and also include the deficit financing. The foreign source of finance consists of loans, grants, and private investment. The significance of both domestic and foreign resources has their own in developing countries. The most important thing is used to execute these resources in a way that maximum benefit can be achieved for rapid development. Background of the problem Pakistan is a large country with a population of 17.50 million in 2010. The economy of Pakistan is still facing the low level of per capita income that is stranded at 699 US $ in December 2012. In Pakistan the ratio of the budget deficit is different in different years. From last two decades the budget deficit is 5.4% to 8.7% of GDP. The average deficit rate was 6% in the period of 1970and it was 7.6% in the period of 1980.In 1990s the deficit ratio was decreased to 6.4% of GDP due to a reduction in development expenditure. The ratio was not achieved by enhancing the tax system but due to the reduction in the development expenditure. The Pakistan tax system is still narrow and punctured due to the poor and weak tax administration. The balance of payments deficit has become a permanent problem of Pakistans economy. For the last fifty years Pakistan has been facing continuously from a current account deficit. The international loans are used to finance the deficit. The debt service charged more than 5% of the GDP of the country. With large budget deficit there is need of rapid growth of domestic credit. In underdeveloped countries the role of free capital markets is limited. The main source of government deficit is financed by the banking system. Like other developing countries Pakistan is also facing a large budget deficit as the most outstanding problem. Deficit financing is also responsible for high inflation rate, decrease growth rate, and low opportunities for private investment. Pakistan faces different rates of the budget deficit in different years. In last two decade the budget deficit ratio was 5.4% -8.7% of GDP. The ratio was 7.6% in 1980s the ratio became 7.6% in 2001- 2002. The rate of budget deficit in Pakistan has grown consistently with the passage of time. At the time of 80sthe budget deficit has increased as much as faster than the early periods and touched the ratio of 8.4% in 1987-88. The rate of budget deficits has decreased to 7% but that ratio was also considered high one of the experts. Due to large budget deficit there was a high rate borrowing is used to responsible for an increase in the domestic debts since 1980-81. In the period of 90s the severe situation faced by the State Bank of Pakistan to control inflation within the targeted limit and make sure the macroeconomic stability. In the fiscal year of 1998 and 2003 the rate of inflation was 4.6% that were relatively lesser the best rate. In early 1973 and 1980 the inflation rate was two digit figures that were 14.3%. The rate of inflation controlled in the period of 1980 that was 7.2% per annum but unfortunately the rate of inflation again grown to 10% per annum. The high rate of inflation also caused due to excess money supply, fiscal imbalances, and deficit finance sources. Problem Formulation Chaudary and Hamid (2001)Pakistan are facing severe obstacles of generating public revenue. The persistent failure in attainment of public revenue leads the public sector to depend on public borrowing. The result is that the public debt goes to increase the rate of 90% of GDP and the rate of budget deficit increase to 8% of GDP. The figure of budget deficit lead to double digit inflation (ref). These imbalances adversely affect the economy. These problems all are interconnected with each other in order to decrease the public revenues that in turn create the hindrance to meet the needs of the public expenditures. In this regard the efforts are made to improve the taxation system that is not based on the scientific approach, thats why the to attain the target of achieving the projected target failed continuously. The result is that it is not only used to meet the demands of development projects because at that time it not able to meet the demand of the current expenditure. In Pakistan the less than 1% population is taxpayer. According to the economic survey of (1998-99) Pakistan has experienced the sustainable growth rate more than three decades till 1990. Pakistans economy grew at the rate of 6% per annum more than three decades but the situation became adverse in 1990. The collection of tax also became very adverse at a satisfactory level. The other developing nations like Pakistan at the age of early growth need to get higher revenue than the developed nations. Due to the obstacles that prevail in getting the higher growth rate this could lead to the unsustanability to survive. According to the economic survey of 1998-99 the growth rate of Pakistan goes to down at 4.5% per annum, the ratio was about 6% in the last 3 decades and same ratio was 3% for few years. The deficit finance is the result of failure in an increase in the public sector to increase their savings. The trend shows that the efforts made in collecting taxes do not meet the demand of the public. It is important to note that Pakistan is not attaining the targeting revenue through tax. According to world development report (1979, 1991and 1997) the rate of tax collecting in the other developing countries is 25%. In the period of 1998-99 the tax shortfall was approximately 20%; it shows that there is need of detailed study of the tax reform system. The economic crises over in 2008, Pakistan have enjoyed greater economic activity. The policy maker in Pakistans fights a battle against the crisis hit in 2008-2009. The sudden increase in the oil prices also causes the alarming situation for the deficit in foreign debt and also decrease the value of the rupee. Pakistan made efforts to seek the international monetary fund after the allies of China, USA, and Saudi Arabia to refuse to provide the funds to the country in October 2008. Pakistan has provided the US$ 1 billion loan for 23 months. Pakistan asked the IMF to raise their loan from US47.6 billion to US$ 12.1 billion in February 2009. In august 2009 the IMF increases the time span to 25 months and increase the grant to US$11. 3 billion to meet their financial needs. Previous studies Ishfaq and Chaudhary (1999)The debt history of Pakistan started in 1984-85, when the surplus revenues turned into a deficit. The fiscal deficit and debt converted into multiple rates. The total deficit rate was Rs 89.2 billion in 1990-91 that rate was increased to 66% in 1997-98 and approximately to Rs 148 billion. The domestic debt was increased to 185 percent the amount increased Rs 448 billion to Rs 1280 billion and foreign debt increased to 156 percent the amount was Rs 272 billion to Rs 697 billion in the same time period. Pakistan has an opportunity to do some measures for the establishment of the macroeconomic indicator rather than to go for deficit financing for generating the revenue. In the mid of the 2008 the Pakistan started registering the imbalance in the overall economy. At the end of the 2008 the Pakistan fiscal deficit was increased to $ 5.6 billion that exceed to $ 8 billion. The trade deficit also increases to $ 13 billion to $ 18 billion. Foreign reserve has fallen to decrease to $ 6.5 billion. (Baig, 2011) Pakistan forced to take the help from the IMF in order to get financing for the deficit finance of their economy. The help provided by the IMF was the package of $6.7 billion that was later increased to $ 11.3 billion in 2009. The IMF also helped Pakistan by providing bilateral and multilateral aid that also causes to increase external debt and liabilities to $ 54 billion from $ 41 billion in January 2008. Pakistan is also used to sovereign bonds and sindak bonds in order to use another form of deficit financing. This also creates a problem for a country to repurchase these bonds according to their specified time table or schedule because different countries have different foreign currencies. In these situation investors does not show their concern toward the investment. (Baig, 2011) These both measures are taken by the international market that is not so enough for the needs of the Pakistan and then government compelled toward the third mode of deficit finance monetization. The Pakistani government relies on the domestic borrowing that is the cause of disparities in the debt dynamics. The domestic debt borrowing increased to 24% in the mid of 2008. Pakistan domestic debt was multiplied from Rs 2610 to Rs 4490 in the fiscal year of 2007.At the end of March 2010 Pakistan domestic debt was $ 53.2 billion which was appoximately30.6% of GDP. All the source of the deficit finance is failing to attain the desired results and lead the economy toward the negative direction. By the mid of 2010 Pakistans total domestic debt reached to $ 100 billion and there is already paid interest about $5.6 billion and debt servicing amounted $ 7.6 billion annually that was expected to cross the limit of $ 10 billion after the fiscal year of 2010-11. (Baig, 2011) Deficit finance works only when there are such sound policies that direct the planners that how to spend money in a way that raise debt, generate revenues and also plan some actionable ideas that directs that how to repay the debt. For the attainment of all these targets there should be a need of honest and sincere governors that Pakistan does not have. In this way we are able to increase the debt and rising the liabilities that is useful for the upcoming generation to pay off that. The money that is used to spend on the future of the Pakistani people should also be spent on the future of Pakistan that could be served as the bureaucracy, foreign visit, corruption and government functionaries. Today the Pakistan debt situation is alarming and we have no plans that how to raise sustainable revenues and having no idea that how to accumulate the external and domestic debt. We have very few and tough choices to make serious and valuable decisions. (Baig, 2011) Causes of Deficit Financing in Pakistan The main causes of deficit financing in Pakistan are: Increase in government expenditure: The government expenditures both development and non development are increasing as time passes. The government has not been able to meet the expenditure by its revenues. Ineffective budget deficit: There are ineffective fiscal policies implemented in Pakistan and fiscal indiscipline also result the public debt. Fiscal deficit: The average fiscal deficit in 1990s was 7% of GDP. The public debt increased from 66% of GDP in 1980 that almost 100% by the mid of 2000. In 2004-2005 the fiscal deficit was 3.3% of GDP however; it increased to 4.2% in 2006-2007. Low saving: The people of Pakistan are consumption oriented. Due to high consumption rate the saving ratio was lower than 16%. Rapid population growth: The rapid population growth also a main cause to slow down the economic activity of a country. According to economic survey of 2007-2008 the population growth was 1.8%. In underdeveloped countries the increase in money supply is one of the major causes of disequilibrium in the balance of payment with heavy government borrowing from banks and as well as from international source of finance. In such developing countries government relies on the deficit financing due to unable to use their domestic sources due to the inflexible tax structure. The capital market of such underdeveloped nations is not able to determine the interest rate and the interest rate was determined by the institutions that in case the result of excess money supply. Purpose Statement The rationale of this study is used to test the theory of association that relates the dependent variables and independent variables. Here in this study the factors (exchange rate, inflation, tax, interest rate) that is affected by the deficit financing are independent variables and GDP is dependent variable. Its individuality will be statistically restricted in this study. Objective of Study The following objective will be paying consideration to guide the study. To study the impact of deficit finance on the exchange rate To analyze the effect of deficit financing on the tax rates. To study the impact of deficit finance on the interest rate. Significance of Study Our study is about the impact of exchange rate, inflation, taxes and interest rate on deficit financing. In which we will see that how the factors are directly or indirectly affect by the deficit financing.
Saturday, October 12, 2019
The Winslow Boy by Terrance Rattigan :: Free Essay Writer
The Winslow Boy by Terrance Rattigan The Winslow Boy is a play by Terrance Rattigan. It is based on the Archer-Shee case, and is about a young fourteen-year-old boy named Ronnie, who is expelled from the Osbourne Naval Cadets for stealing a five-shilling postal order. This essay is all about some of Ronnie’s friends and family, and their different views on the case. Arthur is Ronnie’s father. He believes that Ronnie is innocent because he knows his son better than anybody and can tell when he is lying or not. On page 34-35, Arthur asks Ronnie, â€Å"Did you steal this postal order?†Ronnie’s then replies, â€Å"No, Father. I didn’t.†Arthur asks again, staring into his eyes, â€Å"Did you steal this postal order?†â€Å"No, Father. I didn’t.†Arthur continued to stare into his eyes for a moment, then relaxes. This tells us that Arthur has decided that Ronnie is innocent. At one point, he had been talking to Grace, and she had almost convinced him to give the case up, and he nearly did. He told Sir Robert Moreton and Catherine that he wasn’t going to go through with the case, but they knew that he didn’t mean it, so they gave him a few days and he decided that he had made the wrong decision and went back to Sir Robert. Grace is Ronnie’s mother. She believes that Ronnie is innocent, and that he didn’t steal the postal order, but she was very shocked when Ronnie was expelled. However, she is not as involved in the case as Arthur, and believes that he is â€Å"Blowing the whole thing out of proportion†. On page 78, for example, Grace is having a conversation with Arthur, â€Å"Oh! I wish I could see the sense of it all! (She points to Ronnie) He’s perfectly happy at a good school, doing very well. No need to ever have known about Osbourne, if you hadn’t gone and shouted it out to the whole world. As it is, whatever happens now, he’ll go through the rest of his life as ‘That boy in the Winslow Case’ â€Å" She is very motherly and comforting towards Ronnie and doesn’t like the amount of stress being put on Ronnie by the case. Catherine, Ronnie’s older sister, is a very strong-minded and intelligent person. She definitely knows that Ronnie did not steal the postal order and will not give up the case without a fight, and is prepared to sacrifice even her husband for Ronnie’s rights (This shows strong family bonds).
Friday, October 11, 2019
Jonathan Swift Essay
Compare and contrast the ways in which the problem of homelessness and the solution to it are presented in the two texts: ‘A Modest Proposal’ by Jonathan Swift and ‘Stone Cold’ by Robert Swindells. In this assignment I am going to compare the two texts, which talk about their anger of homelessness. Although the two texts are written 250 years apart where the problem of homelessness was first outlined by Jonathan Swift it is still a big problem today as Robert Swindells outlines in his text. The text written by Robert Swindells, ‘Stone Cold’, shows the cruelty of the DSS, who brush aside the homeless like Link because he hasn’t got a permanent address. This particular problem was outlined by the Robert Swindells, as they made no attempt to help the young homeless people in London. Link says that he may as well be speaking to one of the stone lions in Trafalgar Square, suggesting to the reader it was a complete waste of time. This is linked with ‘A Modest Proposal’, which was written by Jonathan Swift 250 years ago as it states about how uncaring the rich landlords of Ireland are. For example, Who, as they have already devoured most of the Parents, seem to have the best title to the children, which means the landlords have already eaten most of the parents and seem to have the best right to the children, which I feel means the landlords don’t really care about the poor. I also think this is a savage comment. Another problem outlined in the two texts is that of unemployment. In ‘Stone Cold’ Swindells shows the problem of unemployment when Link goes to find a job and is turned down because he doesn’t have a fixed address. So this means anybody without a fixed address cannot get a job. This problem leads to a whole string of problems like: no money, no accommodation, which leads to people begging on the streets to get as much money as they can. In ‘A Modest Proposal’ the problem of unemployment was around 250 years ago as well. How ever the problem 250 years ago was very different as it was mainly the women who were unemployed as they had 3-6 children each as there was no control over getting pregnant. This meant the women had to support the children whatever way she could this usually meant begging. So in the two texts the problem of unemployment in the end the result seemed to be begging on the streets to survive. So putting that together I can see that in 250 years when the problem was first outlined by Swift, it is still a major problem today, and there are still uncaring people towards them. In the next section of my assignment I am going to write about the language of the two texts. If you compare the two texts, you can notice the way in which the two writers spell words and also the punctuation is very different. If you look at the text for ‘A Modest Proposal’ words are spelt very differently from today, as they did not have a dictionary the writer spelt words, as he wanted to. For example the way Jonathan Swift spelt publick is not the way we would write today. We would spell it public. The spelling in ‘Stone Cold’ is, however, standardized as we now get our words from a dictionary, so to us it makes perfect sense. Also in ‘Stone Cold’ there is great use of 20th century slang words like, Doggie bag, which is slang for someone’s name I would think. The way the two writers use punctuation is very different. In ‘A Modest Proposal’ the punctuation is very different to how we use punctuation now. The writer seems to put commas wherever he feels like and also puts capital letters in the middle of a sentence. For example, when they see the Streets, the Roads, and Cabbin-Doors, crowded with beggars of the female Sex. You can see that there is a lot of use of commas where some of them should be full stops. Also if you look towards the end of the sentence you can see that Sex is spelt with a capital at the end of a sentence. In contrast if you look at the text for ‘Stone Cold’ the writers use of punctuation is very different to that of Jonathan Swift’s ‘A Modest Proposal’, as in ‘Stone Cold’ the writer’s punctuation is standardized into 20th century language.
Thursday, October 10, 2019
Biographical Sketch: Kasturba Gandhi Essay
Biographical Sketch: Kasturba Gandhi Kasturba Gandhi was a renowned figure for all of India and was always there to help Mohandas Gandhi out. Kasturba was born on April 11, 1869 to Gokuladas MakharJi, a wealthy business man. She married Mohandas Gandhi in 1882 when she was only 13 years old. At that time she could not read or write because she hadn’t had the proper schooling. Mohandas taught to both read and write and that would come in handy later when she was delivering speeches that led India to its independence. This was also a dangerous move considering the roles and places of India and the caste system. Kasturba and Mohandas had their first child right before Mohandas had to leave for a business trip so Kasturba stayed in India to tend to the child. After the first one they had three more together until in 1906 Mohandas decided to observe brahamacharya and from there on they never had sexual relations. She was very religious minded and broke many barriers in the caste system and also supported her husband in all of his political views. She also had her own view nd spoke out against working conditions in South Africa for Indians which is Just one example of her many times speaking out. She supported hygiene, discipline, reading, and writing to women and children. Kasturba suffered from chronic Bronchitis and the stress on top of that she had tremendous amount of stress during the Quit India Movements arrest also aggravated her illness. She contracted pneumonia but her husband disagreed with the use of penicillin. She died ofa major heart attack on February 22, 1944. Gandhi died in January 30, 1948 after Kasturba and he were married for 62 years
The Australian legal system
The Australian legal system has 2 main sources of law, namely the Parliament-made law and the case law or the common law. The primary source of law in Australia is the Parliament-made laws. As the representatives are elected to the House by the people, statutes and laws can be made keeping in mind the needs of the people. Case laws on the other hand are made by the judges in the courts. Once the court gives its decision, the same would apply for similar circumstances or instances (precedent).The decision would be binding on courts in the future. Another source of law that can be considered in the Australian legal system is the international law that would be applicable in case Australia is a signatory to an international convention, or a bilateral/multilateral agreement (Governments of Australia and South Australia, 2007). Judges are usually, unable to make laws. The law-making capabilities are usually done by the Legislation. The judiciary would be interpreting laws and filling up t he gaps that have been left by the legislation.However, there may be instances in which a strong judiciary can create a new law that may have a strong impact on the society such that it would place the importance of the rule-making authority on the judiciary. Such instances include old, inappropriate and laws that go against human rights. There may be several areas of law such as contract laws, tort laws, negligence, etc, which need to be decided on a case-by-case basis, and develop judicial precedents for future cases. If the statues are so rigid and unclear, then it becomes important for the judge to develop new laws.In some instances common laws may also be difficult to apply. However, there is another school of thought that believes that judge-made laws do not exist, and the statutes would be providing principles upon which case laws which would be developed. Any kind of a judge-made law would be a trespass on the powers of the legislation (Sackeville, 2001). Another reason why judges cannot make laws is that often if a judge creates a law that applies in a particular case, it would apply retrospectively, which destroys the basic purposes of the law.Thirdly, all the Statutes would overrule the case laws. There may be three kinds of relationships between the legislation-made laws and the common law. Firstly, common laws may supplement the legislation-made laws and in this way strengthen the legal process. Secondly, Parliament-made laws may replace a common law. Thirdly, if a particular Parliament-made law is outdated or is threatening the basic human rights, then the Court can decide that the same should be scrapped. Hence, it can be said that judges can state the law within the limits of the legal world.There are two ways in which laws can be interpreted by the advocate or the judge. One way is to determine what the statute might allow. The second way is to determine what the statute would definitely permit (Gleeson, 2001). Often the appellant courts and t he constitutional courts would be creating laws. If any statute would be impeding the Constitution, the same statute can be invalidated. A court may also implement a new rule or principle if it feels that the result of just implementing a law would not have desired results. This could even be in non-constitutional areas (Sackeville, 2001).
Wednesday, October 9, 2019
Presentation PowerPoint Example | Topics and Well Written Essays - 500 words - 1
PowerPoint Presentation Example As earlier stated in my introduction, this report aims at achieving two main goals. The most essential one is to improve students’ academic performance. Secondly, it is to guarantee student manage their time effectively and utilize it well. People say that time is money and am sure we all love money and use it carefully (supposed to be like a joke). I am also sure that we do not want to waste our parent’s money sitting around wasting time and doing nothing. (make it fun by like asking question or asking another student the same question. (MAYBE, Jimmy, do you think it is good to waste time in school?) I am going to narrow down to three main topics in my presentation of managing students time. The first will be on follow plans, good study habits and procrastination. I believe these topics touch on the relevant issues in time management especially when students are concerned. We are all supposed to have plans. I believe you have some plans after this. It maybe to go eat a burger or hang out with your friends ( supposed to be fun when you are saying this. You may make a joke by mentioning some crazy plans. Take care though not to stay on that for long). Now, in the school context, we students are supposed to make academic plans and follow them strictly. The plans show time allocation for each subject. They also make sure that time for one subject does not take up the other’s time. Follow plans are supposed to help your organization during study. They also make sure you cover all subjects without discrimination. By sticking to follow plans, the time you have in school will be well managed. There are various types of follow plans. The most common and recommended ones are study plans, revision plans and progress assessment plans. Study plans are for organization of study time and materials. Revision plans come in handy when preparing for exams and progress assessment plans monitor your academic achievement over time. Students ought to have all of these plans
Tuesday, October 8, 2019
Junk Food Ban Essay Example | Topics and Well Written Essays - 750 words
Junk Food Ban - Essay Example Worse still, the ban only serves to reduce funds that schools receive for extracurricular activities, and in some cases, extracurricular activities such as sports that could help to combat obesity. Moreover, students like the sodas because the sodas help to keep them awake in class. Clearly, junk food ban does not get to the bottom of the obesity problem. In my opinion, junk food ban is only one solution to combat childhood obesity. A total approach that involves schools, parents, and the government is needed. A solution that combats obesity problem at its roots is influencing lifestyle changes of kids. Influencing kids to adopt a healthier lifestyle involves not only schools but also families. Furthermore, lifestyle habits form at a young age. Therefore, parents and schools should inculcate healthy eating and exercising habits in their children from young. Other than banning junk food, schools should also encourage physical activities. In addition to Physical Education classes mandated by the curriculum, schools could encourage physical activities during recess and hold sports events. Teachers should encourage a healthy lifestyle even outside school compounds. Schools could also share effective methods of teaching Physical Education and Health Education classes. To foster the outcome of junk food ban, schools should promote healthy diets. They could introduce programs such as the milk program to cultivate healthy eating habits. To inculcate good lifestyle habits, parents should begin by setting a good example for the children by eating healthily and exercising regularly. Next, they could educate children on the detrimental health consequences of obesity. In addition, they could educate children on portion size and serving size. Also, they should not use food as means of punishment or reward. Furthermore, children should be discouraged from eating while watching television programs, as research has shown that junk food consumption tends to increase while watching television programs. During these times of consumerism, advertisement plays a great role in influencing the wants, needs, and tastes of children. Parents should educate children on the motives of the advertisements. Besides, parents could encourage healthy diets by offering children variety. More importantly, flavor need not be sacrificed in a healthy diet. Parents could try out new recipes that combine flavor with a low-carbohydrate, low-fat, and l ow-sugar diet. Regular exercise goes hand in hand with a healthy diet in the solution to obesity. Parents should show children that exercising is fun. They could spend quality family time with their children by jogging, bicycling, swimming, walking in the parks, playing at the playgrounds, and engaging in other fun physical activities instead of planting themselves in front of the television. Parents should educate children on the health benefits of physical activities. Lastly, parents could support their children's effort to stay healthy by participating in school and community events. Other than introducing the junk food ban, the government can also work on other aspects including sports facilities, the media, health checkups, regulation of advertisements, and taxation. In the face of urbanization, less land is being devoted to greenery and open space. The government should therefore build more and improve accessibility to sports facilities such as gyms, swimming pools, and jogging
Monday, October 7, 2019
Quiz Coursework Example | Topics and Well Written Essays - 500 words - 1
Quiz - Coursework Example In simple terms bourgeois refers to the rich, the ruling class and those who owns the means of production. On the other hand, proletariat is the working class in the society. The two classes are created by the forces of capitalism and the working class are left being exploited by the rich people (Vattimo & Zabala, 2011). In simple terms, it refers to the â€Å"ethics of care vis-à -vis the ethics of rights†(Mappes, 1994). Expounded, this refers to a situation whereby women are praised and are at the same time confronted for what they do. It also refers to situations where women are tangled in two opposing ethics, which involves care on one end and rights on the other end.  A woman, according to Mappes, is mostly confronted by a situation that she cannot handle or she is faced with two irreconcilable demands or a choice between two undesirable courses of action. Eventually, such demands usually lead to serious problems (Mappes, 1994). According to Mappes, care acts as the basis of the other ethics related to rights. When women are subjected to such situations Mappes argues that they are led to moral madness. The traditional role of women, according to Mappes is.to utilize the ethics of care. in this case, women are required to take care of the needs of others. The are also endowed with the duty of maintaining relationships. This simply means that the traditional role that women should play is that of care-giving. Mappes argues that this traditional role is not good as it associates women with low status and assumes that they are not supposed to use the public space (Mappes, 1994). Communism refers to the principles of economic fairness through the elimination of private property. Communism’s main role is to come up with social order since social classes and other things such as the state and money are not present. In communism, the community is entrusted with the ownership of resources and not individuals as it is the case with capitalism
Sunday, October 6, 2019
For this assignment you are asked to first select ONE of the following Essay
For this assignment you are asked to first select ONE of the following topics to investigate - Essay Example Several publications put an emphasis on the developments and realities of video conferencing. They illustrated case after case of people making use of video conferencing and avoiding travel (Davidson & Cope 2003). A number of companies, such as Siemens, LifeSize, and Cisco Systems, have been developing this form of technology for several years now (King 2009). Fortunately, or unfortunately for others, the rapid progress of the current economic crisis is speeding the pace of its implementation. It is not likely that video conferencing can replace business travel, yet companies are increasingly resorting to it as the drawback of the technologyâ€â€such as dropped calls, wobbly connections, and confusing delaysâ€â€mostly has been remedied (Tracy 2009). This essay is an attempt to discuss the possibility of video conferencing replacing business travel in the near future. Through specific examples and empirical evidence this essay aims to give light to this new trend in technology and business tourism industry. The current literature on this issue includes the inexpensiveness of video conferencing and transforming economics as well as the ‘not so sophisticated’ adaptations of the technology such as those provided by google, yahoo, or skype. These low- and high-tech video technologies are by now beginning to transform numerous procedures not just in the business tourism industry but also in other professional and skilled sectors of the economy. Several authors discussed particularly the effect of video conferencing on business travel and reduced popularity of business travel. For instance, Hewlett-Packard and Cisco have experienced a considerable growth rate in their video conferencing units over the recent decade (King 2009). The enterprise of video technology is fascinating in two points. First, from the point of view of the customers, although the direct capital needed is not negligible, it
Saturday, October 5, 2019
Regulatory and Economic Environment Term Paper Example | Topics and Well Written Essays - 1500 words
Regulatory and Economic Environment - Term Paper Example In fact, a somewhat 'hands-on' approach is used in order to have a say in the economy by the government. The regulatory framework in India is to provide accounting information so that the government can execute planning and managing of corporate behaviors. All companies are expected to be honest about their accounting practices irrespective of how big or small they are. Types of business organizations: Roberts, Weetman and Gordon stated, "an important economic feature influencing accounting is the type of business organization that dominates the economy. Two features of business organizations are particularly important in helping to explain accounting rules practices: stated that in India the business can be categorized into very large business houses, medium business organizations and very small businesses. There are many family-owned businesses too. Contrary to the popular belief the family-owned businesses in India are not always small. In fact, the largest business house in this country is a family business. Hence the regulatory framework is based on the size of the business organization. ...In fact the implementation of the International Accounting Standard - IAS 41Agriculture can be attributed to the pressure from agriculturally rich countries like India. India is growing by leaps and bounds in technical sectors and foreign trade and investments. Many multinational companies have opened their doors to India. So accounting regulations are also issued in the interest of foreign currency transactions and translation. Legal factor: India operates largely on the common law legal system but incorporates religious laws too. According to Institutional Shareholder Services, "India's Companies Act has been in place since 1956 and sets out the current three-tier system of administration on the national state and regional level" (para.5). The main purpose of common law in this country is to protect the owners of the companies.Â
Friday, October 4, 2019
Should Corrections Be Date and Time Stamped Essay Example for Free
Should Corrections Be Date and Time Stamped Essay 1.Should corrections be date and time stamped? According to the American Medical Association, all medical records should be date and time stamped and should identify the corrector or the person that is making any changes of any sort. First, the individual making the correction needs to identify him or herself as having authorization to do so. Secondly, any corrections need to contain the date and time they took place so that if any questions were to arise they may be better referenced. Finally, all changes to a patient’s medical record must contain a list of people to notify of the changes. All of these steps are necessary without exception to protect the accuracy of a patient’s medical record. 2.When should a patient be advised of the existence of computerized databases containing medical information about the patient? A patient must understand how their medical records are being maintained. This is very important for confidentiality. Patients need to stay advised of the existence of computerized databases that contain their medical records before the records transfer to the staff entering them into the database. The patient is also to be advised as to whom will maintain their records and who will and will not have access to their medical records. Any person able to access the patient’s record through the computerized database needs to be identified to the patient before the records become part of the system. These steps are to ensure the patient that the right measures are being taken to keep their records confidential.
Thursday, October 3, 2019
Government Strategies to Control Inflation
Government Strategies to Control Inflation With reference to the UK, examine and discuss the methods open to a government to control the rate of inflation within an economy. Introduction Inflation refers to an increase in the price level of goods and services in a given economy. Since inflation is concerned with increases in the cost of living rather than increases in the cost of a particular good, it is measured using a price index which monitors the price of a weighted ‘basket’ of goods. In the UK, the main price indices are the Retail Price Index (RPI), the Retail Price Index excluding Mortgage Interest Payments (RPIX) and the Consumer Price Index (CPI). Responsibility for the control of inflation was handed from the Treasury to the Bank of England in 1997 at which time the RPIX was used to measure inflation and the inflation target was set at 2.5%. Since December 2003, the CPI has replaced the RPIX as the main inflation measure and the target has been set at 2%. Diagram 1 (below) depicts annual inflation rates in the UK from 1997 to 2007 as measured by both the RPIX and the CPI. This essay will first outline the main theories put forward to explain the causes of inflation and the methods that each theory suggests would control inflation. The next section considers inflation in the UK from 1997 to date, and then evaluates the measures employed by the Bank of England in order to try to control inflation in that period. Causes of inflation and methods of inflation control There are two main schools of thought on the causes of inflation. The Keynesian school posits that changes in the real supply of or demand for goods and services are the key causes of inflation. Thus in order to reduce inflation, an expansion in supply or a contraction in demand is necessary to reduce the price level. This can be achieved through fiscal or monetary policy or a combination of the two. Fiscal policy such as an increase in income tax rates, has the effect of reducing effective demand for goods and services and thus can be used to lower inflation. Furthermore, a reduction in sales taxes (VAT in the UK) can reduce inflation to the extent that that inflation is caused by an increase in consumer prices. Monetary policy, through an increase in interest rates, can reduce aggregate demand through discouraging borrowing, increasing saving and reducing the disposable income of homeowners as the cost of mortgage repayments increases. The monetarists, on the other hand, argue that inflation is caused primarily by changes in the supply of and demand for money. In this view, then, inflation can be reduced either by reducing the supply of, or increasing the demand for, money. Given that either the government or the central bank (as in the case of the UK where the Bank of England has had independence on monetary policy since 1997) sets the price of money (i.e. the interest rate), they are able to control the supply of and demand for money. This suggests that fiscal policy can be used to affect aggregate supply and aggregate demand while monetary policy can be used to affect aggregate demand (particular in an economy with a high level of mortgaged home-ownership) and the supply of and demand for money. Inflation in the UK and Bank of England control measures from 1997 to 2008 The diagram above shows UK inflation (as measured by RPIX and CPI) from 1997 to 2008 together with the inflation targets set for the Bank of England by the government. This shows that from 1997 to 2003, inflation was held within 0.5% of its target. In 2004, inflation as measured by its (then new) CPI target was on the low side but from 2005 to 2007, it was within a healthy 0.5% range of target. In recent months, however, inflation has been climbing and is predicted to go over 3% at some point before the end of 2008. In order to understand inflation and inflation control in the UK, it is necessary to understand some of the specificities of the UK economy. In the first place, the nature of the UK housing market (which is characterized by high loan-to-value ratios, relatively few long-term fixed rate mortgages, and ease of re-mortgaging) makes house prices particularly responsive to interest rates. Cameron (2005:3) explains that ‘a one percentage point rise in the short-term real interest rate would reduce house prices over a five year period by 2.6% in the UK, 1.8% in the US, and 1.3% in Germany.’ Furthermore, in the UK, house prices have a major impact on consumer spending. Cameron (2005:3) explains that house prices are more volatile in the UK than elsewhere in the developed world, and that the impact of house prices on consumer spending is also particularly heavy in the UK – according to the OECD, a 1% fall in UK housing wealth correlates with a 0.07% fall in consumer spendi ng. This can be seen as due to the high levels of home ownership and the high loan-to-value ratios of mortgages. This demonstrates that while monetary policy can be very effective in reducing aggregate demand via just a small increase in interest rates, the converse is also true – in other words, a small reduction in interest rates will have a significant effect on aggregate demand and so will lead to a significant increase in inflation. This last point is well illustrated by the current situation in the UK. The Bank of England is mandated to control inflation (as mentioned previously the target is 2% as measured by the CPI) but has control only over monetary policy and not over fiscal policy. Monetary policy impacts economic growth as well as inflation and therefore when the economy is slowing (as is currently the case) and potentially heading towards recession, interest rates may be used to stimulate growth even if this may also increase inflation to an unacceptable level (when it goes over 3% the governor of the Bank of England must write an explanatory letter to the Chancellor of the Exchequer). As the Economist (2008:38) explains, in January of this year, ‘consumer prices were 2.2% higher than a year agoâ€â€a bit above the governments 2.0% inflation target. The banks central forecast shows inflation heading up to 3% by the third quarter of this year.’ The Bank of England (2008) itself certainly blames the predicted escalation of inflation over the acceptable 3% level on the problem of balancing growth objectives with inflation targets given that monetary policy is the only tool at its disposal, claiming that the ‘combination of slow growth and above-target inflation poses substantial challenges for policy.’ Conclusion The Bank of England (2008) explains that ‘higher energy, food and import prices push inflation up sharply in the near term.’ This is echoed by analysis in the Economist (2008:38) which claims that increasing ‘home-energy bills, which have jumped by nearly 15% so far this year, will add almost half a percentage point to consumer-price inflation in February. Food-price inflation, which is currently 6.6%, is likely to rise further. Import prices will be pushed up by a weaker pound, whose 6% fall in the last three months was the biggest since sterlings ignominious exit from the European exchange-rate mechanism in 1992.’ In order to address this kind of inflation without stifling economic growth at a time when growth is already slowing, policies need to be directed at aggregate supply of goods and services. As was outlined above, monetary policies have an impact on the supply and demand for money and also on aggregate demand for goods and services. However, only fiscal policy impacts the aggregate supply of services. Thus in the context of low levels of growth and high levels of inflation, monetary policy (as controlled by the Bank of England) is not sufficient because if it focuses on controlling inflation it cannot also reverse the slowdown in economic growth, and if it focuses on economic growth, there is a danger that inflation will get out of control. Thus inflation controls should draw on a combination of fiscal and monetary policy. References Bank of England (2008) ‘Overview of the Inflation Report February 2008’ (downloaded from http://www.bankofengland.co.uk/publications/inflationreport/infrep.htm on 4 March 2008) Cameron, G. (2005) ‘The UK Housing Market: Economic Review’ (downloaded from http://hicks.nuff.ox.ac.uk/users/cameron/papers/ukhousingmarket.pdf on 4 March 2008) Economist (2008) ‘Economic woes: Fighting on two fronts: Britain’s central bank gets gloomier about growth and inflation’ in The Economist, February 16th-22nd 2008, p.38 OECD (2005) ‘Economic Survey of the United Kingdom, 2005 (downloaded from http://www.oecd.org/dataoecd/18/34/35473312.pdf on 4 March 2008) Office for National Statistics (2008a) ‘RP07 RPI all items excluding Mortgage Interest Payments (RPIX) percentage change over 12 months (CDKQ)’ (downloaded from http://www.statistics.gov.uk/downloads/theme_economy/RPIX.pdf on 4 March 2008) Office for National Statistics (2008b) ‘CPI12 CPI all items percentage change over 12 months (D7G7)’ (downloaded from http://www.statistics.gov.uk/downloads/theme_economy/CPI.pdf on 4 March 2008)
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