Museums are Catalysts for Regeneration Essay Example | Topics and Well Written Essays - 2500 words

Museums are Catalysts for Regeneration - Essay Example But soon, even animal hides, instruments, portraits and sculptures were also displayed. The Greeks then widened the scope of objects displayed in a museum by exhibiting not only statues and paintings but also jewelries, glasses, vases, pottery and ornaments which they offered to their gods. These were however, transported to Rome when the Romans ransacked Greece. Thus began the Romans' romance with works of art. Then Roman temples, palaces and private villas were adorned with these (Alexander 2008, p.4). Japan and China were not left behind in this cultural activity because even before 1000 AD works of art were already manifested in their temples and palaces. It is worthwhile to mention that in Nara City, Japan many of these had been preserved. vanguard for the reposing of important manuscripts, saints' relics, statues, paintings and jewelries. Feudal nobles, coming from the crusades in the Near East, carried with them spoils of war with beauty and added these to their private collections. But museums reached unparalleled importance during the Age of the Renaissance. The Medici family of Florence, collected the most enviable art treasures ever gathered which they ensconced in their palaces. Later these were transferred to the Vatican and made a part of the Papal collection. Then the Uffizi Gallery in Florence was made the repository of the Medici collection (Bennett 1995, p.27). The first great public museum is the Louvre Museum in Paris, which at that time was basically composed of royal collections of King Francis I. For the first time, a museum was opened to the public in 1793. When the Age of Enlightenment came, more museums were opened for public viewing. Some of these were the British Museum, the Berlin Gallery, the Prado in Madrid and the Hermitage in Saint Petersburg (Steffensen 1998, p.13).

Explain the Differences Between Panglosss Philosophy Essay Example for Free

Explain the Differences Between Panglosss Philosophy Essay Pangloss’s philosophy of life is that all is for the best in the â€Å"best of all possible worlds. † This optimistic philosophy actually is the key element of Voltaire’s satire. Pangloss’s philosophy is against the ideas of the Enlightenment period. Pangloss believes that a powerful God had created the world and that, therefore, the world must be perfect. When creatures of the world, see something as wrong or evil, it is because they do not understand the ultimate good that will come out of it. Voltaire satirically shows the reader that Pangloss is not a believable character. Voltaire illustrates this by showing us that he keeps his optimistic thought even when he is imprisoned. Pangloss ignores any evidence that contradicts his initial opinion. He also uses illogical arguments to support his beliefs. Pangloss’s philosophy tries to impose a passive attitude toward all that is wrong in the world. If the world is the best one possible, then there is no reason to make any effort to change things. Martin is more believable than Pangloss, not because he is more sophisticated, but because he is smarter and more likely to draw conclusions with which we can identify. Martin had been robbed by his wife and beaten by his son and deserted by his daughter and also lived financial setbacks, and therefore he’s a pessimist whereas Pangloss is an optimist. He uses his experiences to judge the world whereas Pangloss was merely using a theory. As a result, Martin is more insightful than Pangloss to foresee events that will happen. Even though Martin’s philosophy is more believable than Pangloss’s, he’s still not good at predicting how some people will behave because his philosophy is coming from extreme pessimism. Therefore it might not be wrong to say that Voltaire is trying to prove that we need flexible thought in our lives based on real evidence. Both philosophers will ultimately fail because there’s no room for exceptions in their beliefs. Candide starts his journey with the influence of Pangloss’s belief of â€Å"best of all possible worlds†. Pangloss and Candide, suffer and witness a wide variety of horrors and tragedies together. During these tragedies, Pangloss’s s philosophy proves to be useless and even destructive at the end, because it prevents them from making realistic judgments. For example while Jacques was drowning, Pangloss doesn’t let Candide save him by saying that the bay of Lisbon had been formed for this Anabaptist to drown in. Also when Candide was buried under the rubble of the Lisbon earthquake, he asked for oil and wine because he was dying, but Pangloss ignored him and still tried to reason with the causes of the earthquake. At the end Candide rejects his philosophy of optimism and as he and his servant Cacambo travel and go through more horrors, Candide starts believing a pessimistic view of life. When Candide meets Martin, they set sail together and Martin is just the opposite of Pangloss. He does not believe that everything is for the best in this world. Even though Candide tries to oppose Martin by talking about free will but it does not solve the problem of presence of evil in the world. In general, Martin’s arguments seem more reasonable than Pangloss’s ideas. But, like Pangloss, Martin believes so firmly in his own view of the world that he is not flexible and usually dismisses real evidence that contradicts his philosophy. When Candide cannot find Cunegonde, Martin shows the bad influence of his pessimism. Instead of attempting to comfort his friend, Martin uses Candide’s distress to further confirm his own world-view. Just like Pangloss’s optimism, Martin’s pessimism also keeps him from taking initiative to improve the world.

California Youth Authority :: essays research papers

The California Youth Authority or the CYA as it is more commonly known, is an institution which provides a range of education, treatment, and training services for youthful offenders committed by courts. This system has been plagued by multitudes of problems for many years that need to be fixed. â€Å"The California Youth Authority is responsible for the protection of society form the criminal and delinquent behavior of young people(Hill, Legislative Analyst).† This is reached mainly through custodial control of these juveniles and the implementation of vocational, education, health, and mental health treatment services. As of now, CYA uses large, remote, high-security facilities. They may be called "schools," but with about 400 kids in each one, they are more like warehouses, storing wards until they are ready for release. For decades, experts and officials have dismissed this model as incapable of meeting the juvenile justice system’s goal of rehabilitating youth. The CYA is clearly not working the way the way that it was designed to run. For instance, three out of four wards who end up in the California Youth Authority are arrested on new criminal charges within three years of their release, which proves the institution's failure to rehabilitate the state's most troubled juvenile offenders. Experts say the high number does not address how much California could gain from approaches used in other states (like Mississippi) such as housing wards in smaller facilities, providing intensive treatment programs, and offering more supervision and assistance after a ward is released. â€Å"In smaller, rehabilitation centers, youth would be under the supervision of trained social workers and mental health experts – not prison guards.(LAO Report, pg. 7).† This would allow the offenders to be in closer contact with their families, as well as a variety of services. The average age of a CYA institution is 43 years old. This means the there are many maintenance and repair needs and, at some point, many buildings will have to be replaced. Also, the population that many of the institutions were designed for 40 or 50 years ago is different than today’s youthful offender. â€Å"Finally, the ward population has decreased from a high of over 10,000 in 1996 to its current level of 4,300. This decline has resulted in overcapacity and presents an opportunity to consider closure(Lao Report, pg. 11).† Closing some institutions would save the state money, and enable the state to implement programs to lower recidivism rates.

Promotional Strategy Essay

There are various ways to communicate with potential customers. Promotional strategy includes a mix of advertising, publicity, sales promotions, personal selling, and public relations. Each component of the promotional mix plays a role in your effort to have potential customers learn about your business and buy your goods or services. Your promotional strategy must address the who, what, when, where, and how much money to spend. The â€Å"Who† of Your Promotional Strategy No business can be all things to all people, and no business has an unlimited amount of money to spend on its promotions. You will need to be sure you direct your effort and money to your target market. The better you can identify who is in your target market, where they live, what magazines and newspapers they read, what television stations they watch, and what radio stations they listen to, the higher the probability that you will be able to get their attention and influence their behavior. If you can identify your target market’s demographics, then you can check the listenership, viewership, and readership profiles for various media, including local radio stations, newspapers, magazines, and television stations. For example, if you are opening a clothing store and the primary target market is teenage girls, then you should review the rating of radio listenership in your geographic area. Most radio stations have a copy of the ratings. You will be able to determine which radio station has the highest listenership in that age category. The A. C. Nielsen rating service does the same for television viewership. The â€Å"What† of Your Promotional Strategy The â€Å"what† involves determining the message you should communicate to your target market. Your promotional strategy is intended to take people who may have varying degrees of interest in your type of goods and services and get them to become your customers. You will need to know who they are, who they are currently buying from, why they are buying the goods and services, and to what extent they are still â€Å"customers in search of a business.† Your promotional strategy is intended to get the people in your target market to modify their behavior. The â€Å"message† you send to the people in your target market must be tailored to their mental frameworks. Your message must also provide the incentive for them to do business with you. Your promotional strategy should be based on: (1) Who do you want to influence? (2) What do you have to offer them that is better than the competition? and (3) What do I need to communicate to them to get them to become my customers? Your promotional strategy should emphasize your competitive advantage(s). Successful promotional strategies are based on the concept, â€Å"If everyone is offering a steak, then you must sell your sizzle!† You must know what your target market values. Your strategy should highlight your business’s â€Å"unique selling points/propositions.† The â€Å"When† of Your Promotional Strategy There are four major intervals for promoting your business. The first is preening promotion. It is very important for a new business to generate customer interest before your business opens its doors. You want your target market to be anxious for your business to open. Some businesses do â€Å"teaser† advertising. A teaser ad may be, â€Å"the countdown has begun; there are only 60 days until Company of Miami opens.† This business may do teaser advertising by erecting a sign where the business will be located. Your business will also need to provide ongoing promotions. Your existing customers will need to be kept informed about developments in your business. You will also need to let potential customers learn about your business and its sizzle. Most new businesses tend to have a token grand opening promotion and do little after that. You need to develop an ongoing promotional program that will keep your business in your target market’s minds. If the world doesn’t know about your mousetrap’s advantages and the market doesn’t know where your door is, then you will not sell a single mousetrap. The â€Å"Where† of Your Promotional Strategy Your promotional strategy will only be effective if its message gets to your target audience at the appropriate time. The â€Å"where† of promotional strategy involves the media you use to communicate with your target market. There are numerous avenues or media available for promoting your business. The key is to know which media will produce the best results. The media to be used will depend on to whom you want to direct your message, the nature of the message, and when it needs to be presented. Each type of media has advantages and disadvantages. Television offers color, movement, sound, and broad geographic coverage. Radio offers a means to get to a large number of people at various times of the day and night. Newspapers offer daily coverage to a large percentage of an area’s households. Direct mail permits you to send your message to a specific group of people. Billboards take advantage of a captive audience while people are in their automobiles. There is no one best medium for all businesses. There is no one best medium for every type of message. When asked which medium is the best, the answer can only be, â€Å"The one that does the best job of attracting customers per dollar cost.† Your promotion budget also influences media selection. You want to get the best return per dollar invested in promotion. One medium may cost less than another, but you need to determine which one will do the most effective job of getting your message to your target market. businesses frequently evaluate media in terms of the cost of reaching each 1000 potential customers. The â€Å"How Much† to Spend Part of Your Promotional Strategy The question of how much money to spend on promoting your business is very difficult to answer. Some businesses spend a certain percentage of projected sales on promotion-related activities. If, for example, you are trying to generate sales of $ 100,000 for the first year, then you may want to review trade data on your type of business to learn what percentage of sales you should spend on advertising. Bank of America reports that the average ad expenses for apparel stores is 2 to 3 percent of sales; for bookstores, 1.5 to 2.5 percent of sales; and for gift stores, 1.5 to 2.5 percent of sales. These figures reflect annual budgets for existing businesses. Your first year’s promotional budget will need to be a larger percentage of sales because your business will be unknown and you will be trying to divert customers from other businesses. The percentage-of-sales method may provide a general idea of how much to spend, but spending a certain percentage of sales on promotion does no t guarantee that you will generate that level of sales. The best way to determine your promotional budget is to identify what you want to accomplish. This is known as the â€Å"target† approach. If you want to have 8 people come to you each week, then you need to determine what type and amount of promotion you will need to do to achieve that goal. You may find it will take 3 primetime radio spots per day on two different radio stations; a two column, 3inch ad in the local newspaper on Mondays, Wednesdays, and Fridays; 2 billboards located on two major thoroughfares; and 1000 direct mail promotions per month to achieve your goal. The target approach recognizes that you must reach a â€Å"critical mass† before your promotions will have an effect on the market. The percentage-of-sales approach indicates what businesses spent. The target approach determines what you think it will take to achieve your sales goal. The target approach is particularly appropriate for a new venture. There are two other approaches businesses may use to determine their promotional budgets. Some businesses simply try to match their competition. They monitor the number of radio spots aired and the amount of ad space in the newspaper. The businesses then match their major competitor’s promotional program. This approach has two flaws. First, it assumes that your competitors are doing the right type and amount of advertising. Second, if you don’t do a better job of promoting your business than your competition, why should your target market do business with you? The other approach to developing a promotional budget is based on how much you can afford to spend. This may be the least effective approach. It assumes that you have allocated money to all of the other aspects of your business. Any money that is left is what you can spend on promoting your business. You must recognize that you need to do promotions to generate sales. If you hope to have enough sales to leave you with enough money to do promotions, then you have things backwards. It is interesting to note that most people are reluctant to spend much money promoting their business. This reluctance is quite natural. Money spent on promotions offers no assurance that it will bring in enough customers to justify the expense. One of the sayings about advertising is, â€Å"Only one-half of advertising works. The problem is that you don’t know in advance which half it will be!† However, promotions should be viewed as an investment that is necessary to generate the level of sales needed to produce your targeted level of profit. The Promotional Mix Most of the discussion of promotional strategy has been focused on advertising. Promotion also includes the name you choose for your business, its sign, personal selling techniques, point-of-purchase displays, special sales promotions, public relations, and publicity. Publicity may be particularly important for a new business. Publicity is defined as media coverage for which you don’t pay. Many radio stations, newspapers, and television stations do features on new businesses when they open. If your business is the first of its kind in your area or if it has some special â€Å"sizzle,† you may be able to get the media to do a special feature on it. You should make every effort to get in touch with the media before your business opens. Publicity can be equivalent to thousands of dollars of free advertising. Publicity is also valuable because potential customers tend to pay more attention to features than to advertisements.

American Reform Movements Essay

When the United States was founded, neither women nor African Americans had civil rights. This all began to change in 1800’s when people began to fight for equality. The Women’s Rights Movement and the Abolitionist Movement, although different in leadership and protest, were similar in their motivation and spread of ideas. One key differentiation between the fight for women’s rights and for African Americans rights is the methods of protest and gathering. While women held conventions and occasional strikes, slaves organized violent rebellions and insurrections. In Lowell in February of 1834 Women were peacefully protesting the unfair wages and conditions they worked in. (Nash). In 1848 the first Woman’s Rights Convention was held in Seneca Falls (Abolition). On the other end of the spectrum, in August of 1831, Nat Turned and approximately 40 other slaves traveled from house to house and killed every white person they encountered (Nat). This shows a clear difference between how women’s rights and how American American rights were sought after. Another significant difference between the fight for women’s right and for African American rights was the people in leadership. In both of these movements, the key writers and leaders were usually white. This was obviously due to the fact that most African Americans were still enslaved; therefore, they often weren’t allowed to congregate and had no access to the tools necessary for writing and spreading information. Because of this, passionate white people took charge of both fights. Even some women became prominent leaders in the abolition movement. Angelina Grimke and Sarah Moore Grimke became famous for making speeches to about slavery (The Abolition). Other women who were active in the abolitionist movement became interested in women’s rights as well; women working to secure freedom for African Americans began to see similarities in their situation as white women and the situation of enslaved black men and women (The Abolition). African Americans did not have as much of an opportunity to fight for their rights which led to some leaders in the abolitionist movement who weren’t affected by it. One thing that ties both freedom movements together is their motivation. In the early 19th century, married women were denied rights to own and manage property, to form contracts, to sue and be sued, and to exercise legal control over their children. In addition, women were prohibited from voting or holding public office and were denied access to higher education and high professions (Nash). Married women had no legal identity apart from their husbands. Divorced women could not gain custody of their children. Similarly, African Americans did not have the right to own property or to exercise legal control over anything; additionally they could not vote in a public election and were only worth three fifths of a person in state representation. African Americans were deprived of a real education or high authority jobs. Both groups of people lived in very similar situations and were motivated by their lack of freedom to fight for their human rights. In the Abolitionist Movement and the Women’s Rights Movement, the use of pamphlets, newspapers, and books were very advantageous. Women wrote articles for Humanitarian Rights papers, circulated Rights pamphlets, and spread, signed, and delivered petitions to Congress calling for equal rights. In 1854 Douglass wrote the autobiography, My Bondage and My Freedom (Abolition). News Papers such as The Liberator made a large contribution to the gain in support for Rights movements. Both movements largely benefited from pamphlets, papers, and books in spreading their ideas. The fight for the abolition of slavery and for women’s rights shared many similarities and differenced. The Abolitionist Movement was much more violent and morbid compared to the Women’s Rights Movement. However, both movements were motivated by the same want and need for freedom and equal rights, and they both heavily relied on the spread of ideas through pamphlets and newspapers. Overall, both of these fights are a very important part in American history and contribute to future events including the current issue in communist countries such as North Korea to gain freedom from government oppression for all citizens. â€Å"Abolition, Women’s Rights, and Temperance Movements. † National Parks Service. U. S. Department of the Interior, 1 Mar. 2008. Web. 18 Nov. 2014. Nash, Gary, and Julie Jeffrey. â€Å"The Lowell Factory System. † Web. 17 Nov. 2014. â€Å"Nat Turner’s Rebellion- 1831. † PBS. PBS. Web. 18 Nov. 2014. â€Å"The Abolition Movement and Woman Suffrage. † National Women’s History Museum. 1 Jan. 2007. Web. 17 Nov. 2014.

Free Essays on Hunger For Memory

, free and clear from the humiliation of the outside world in openly revealing their speech deficiencies. He remembers the first day of catholic school being introduced by a nun as Richard. Rodriguez states â€Å"This was the first time I had heard anyone name me in English† (393). This was the beginning of the end of his Hispanic heritage. In school he felt isolated from the rest of the students and at this point he realized he must now embrace his American identity. Frightening as it may have been. Because of his fear of accepting and learning the public language, it would change the comfort of his family life. He would often hesitate when interacting with his fellow students. Several months later his teacher had noticed his lack of participation i... Free Essays on Hunger For Memory Free Essays on Hunger For Memory Journal Response â€Å"Hunger for Memory† Richard Rodriguez in his book â€Å"Hunger of Memory† writes about the psychological impact of lack of heritage in his adulthood for trying to blend both heritages, American and Hispanic in his childhood. His experience as a second-generation Mexican immigrant, growing up in middle class, predominantly white neighborhood where he felt the discrimination and his struggle with the English language. He also tells us about how uncomfortable it was for him to see his parents trying to speak English. He describes to us the two worlds, â€Å"The Spanish world at his house and the gringos, American world† that he lived for a period of his life in his childhood. Rodriguez says that he felt very comfortable at home where everyone spoke Spanish. Rodriguez states, â€Å"My parents would say something to me and I would feel embraced by the sounds of their words.† (396) It was his language, and the only one that made sense to him. Rodriguez points out how the languag e barrier both excludes the Hispanic and isolates them from the predominant society. He recalls sitting at the dinner table, joining his parents in mocking the pronunciation of English words, free and clear from the humiliation of the outside world in openly revealing their speech deficiencies. He remembers the first day of catholic school being introduced by a nun as Richard. Rodriguez states â€Å"This was the first time I had heard anyone name me in English† (393). This was the beginning of the end of his Hispanic heritage. In school he felt isolated from the rest of the students and at this point he realized he must now embrace his American identity. Frightening as it may have been. Because of his fear of accepting and learning the public language, it would change the comfort of his family life. He would often hesitate when interacting with his fellow students. Several months later his teacher had noticed his lack of participation i...

Lessons in Life and Marketing Yourself (a.k.a. What I Learned at the River Food Pantry)

Lessons in Life and Marketing Yourself (a.k.a. What I Learned at the River Food Pantry) Last Friday evening I volunteered at the River Food Pantry, the busiest food pantry in my county. The pantry distributes 30 thousand pounds of food to 600 families per week- I think I personally distributed about 1000 pounds of it, as I was in charge of giving out cabbages. These were not just ordinary cabbages like the ones you see in the grocery store. Some of them were bigger than my head and easily weighed 7 pounds. My cabbage volunteer experience taught me many lessons about life and even resumes. Here’s some of what I learned: I *do* have time in my life for volunteering, and it feels good. All it takes is putting it in my calendar. This time it helped that a group of friends all decided to volunteer on the same day. Volunteering is even more fun as a community and when you can go out with friends afterward! (Maybe you are procrastinating something that would get done if you put it in your calendar and/or made a group experience out of it?) When there are small cabbages and big cabbages, most people do not want the big cabbages. But when there are only big cabbages, people take the big ones. Of course some people simply don’t like cabbage. But if you’re interested in cabbage, the desirability of any given one is all in your perspective. (It is your job to make yourself or your product look desirable when compared to all the other choices around it.) When told, â€Å"You can have one of everything on this table,† (a table filled with berries, pumpkins and potatoes in addition to heads of cabbage) people often skip over the cabbage. But when asked, â€Å"Would you like a cabbage?† most people will take a cabbage. And when further offered, â€Å"A nice big one?† most people will take a big one. This phenomenon reminded me of how simple our minds are. Put whatever you want people to notice in front of their noses; draw their attention to it and they will probably bite. We humans are so suggestible. (This strategy works on resumes too!) People like variety. On a cart to my right there were packs of cut watermelon. No one was taking them. But when they were placed on a table next to packs of blackberries and people were told they could choose two things, they chose variety: one watermelon and one blackberry instead of 2 blackberries. The watermelon, previously unwanted, flew off the shelves. (Workplaces and colleges look for variety too. You might be the right fit just because you are different!) People like things that look pretty. About an hour into my shift, I decided to start cleaning up the cabbages, taking off the outer leaves, before offering them to customers. The number of cabbage takers increased significantly. (Can you see an implication for your job search and marketing documents here?) I like to finish what I started. Even after my friends had completed their tasks, I found it impossible to leave with them until I had given out cabbages to the last patron. I’m sure someone else could have peeled cabbage leaves just as well as I did, but for some reason I felt I needed to see my job through to the end. And so I did. Do you have a tradition of volunteering at holiday time? I’d love to hear what it is! And perhaps this year you can use the occasion as a way to learn some life lessons as well as spread holiday cheer.

How to Write a 10 Page Research Paper

How to Write a 10 Page Research Paper A large research paper assignment can be scary and intimidating. As always, this large assignment becomes more manageable (and less scary) whenever you break it down into digestible bites. The first key to writing a good research paper is starting early. There are a few good reasons to get an early start: The best sources for your topic might be taken by other students, or they might be located in a faraway library.It will take time to read the sources and write those note cards.You will find that every re-write of your paper makes it better! You want to give yourself plenty of time to polish your paper.If you wait until the last minute, you could find that there is no information available to support your topic or thesis. You might need to find a new topic! The timeline below should help you get to the number of pages you desire. The key to writing a long research paper is writing in stages: you will need to establish a general overview first, and then identify and write about several subtopics. The second key to writing a lengthy research paper is to think of the writing process as a cycle. You will alternate researching, writing, reordering, and revising. You will need to revisit each subtopic to insert your own analysis and arrange the proper order of your paragraphs in the final stages. Be sure to cite all information that is not common knowledge. Consult a style guide to make sure you are always citing properly. Develop your own timeline with the tool below. If possible start the process four weeks before the paper is due. Research Paper Timeline Due Date Task Understand the assignment completely. Obtain general knowledge about your topic reading reputable sources from the internet and from encyclopedias. Find a good general book about your topic. Take notes from the book using index cards. Write several cards containing paraphrased information and clearly-indicated quotes. Indicate page numbers for everything you record. Write a two-page overview of your topic using the book as a source. Be sure to include page numbers for the information you use. You dont have to worry about format just yet just type page numbers and author/book name for now. Pick five interesting aspects that could serve as subtopics of your subject. Focus in on a few major points that you could write about. These could be influential people, historical background, an important event, geographical information, or anything relevant to your subject. Find good sources that address your subtopics. These could be articles or books. Read or skim those to find the most relevant and useful information. Make more note cards. Be careful to indicate your source name and the page number for all information you record. If you find these sources arent providing enough material, look at the bibliographies of those sources to see what sources they used. Do you need to obtain any of those? Visit your library to order any articles or books (from the bibliographies) that are not available in your own library. Write a page or two for every one of your subtopics. Save each page in a separate file according to the subject. Print them out. Arrange your printed pages (subtopics) in a logical order. When you find a sequence that makes sense, you can cut and paste the pages together into one big file. Dont delete your individual pages, though. You may need to come back to these. You may find it necessary to break up your original two-page overview and insert parts of it into your subtopic paragraphs. Write a few sentences or paragraphs of your analysis of each subtopic. Now you should have a clear idea of the focus of your paper. Develop a preliminary thesis statement. Fill in transitional paragraphs of your research paper. Develop a draft of your paper.

Contract Law - Doctrine of Consideration and Promissory Estoppel Essay

Contract Law - Doctrine of Consideration and Promissory Estoppel - Essay Example as stipulated by this doctrine, any party relying to his or her detriment on another partys promise may make that promise enforceable to such extent as her/his reliance. However, any action under the promissory estoppel doctrine is highly likely to be executed under equity in absence of a jury. It may also fail if the plaintiff cannot demonstrate the element that there will be a result of injustice if the oral promise by the promisor is not enforced. A plaintiff of promissory estoppels doctrine has also to overcome a great deal of hostility by the judiciary to such doctrine. Even if the plaintiff is successful under this, it may not be possible to make a recovery of the whole benefit in which he/she was bargaining.1 (Luepke, 2002) In the period from year 1809 to 1991, common law has made a clear provision that any promise by a party to make a performance of any act, which that party has prior legal obligation to perform, such is not a good consideration. In the same line, any promise received as part of exchange is unenforceable. Such is the case even if the promise would impact by creating a new contract altogether or even modifying the existing contracts terms. The court of appeal of England has the power to make changes to the law as it has been settled. In the case of William versus Roffey where the facts were that the promisee made to the promisor an understanding that as the promisee he would extend his performance of his undertaking as per the previous contract. It was held by the court that the accruing practical benefit to this cases promisor from the previous promises repetition would be enough consideration to make such a promise to raise the prior payment an enforceable fact in law. The promise made afterwards outside the process of bargaining was neither offered nor solicited.2 (Twyford, 2002) When the two doctrines interact a controversial situation arises.

Strategic Financial Management Master Essay Example | Topics and Well Written Essays - 3500 words

Strategic Financial Management Master - Essay Example Another school of thought believes that dividends are adverse for the average shareholder as they attract taxes and cause fiscal disadvantages. Last but not the least the third group lauds large dividends as positive signal to shareholders that all is well. So where does the modern shareholder satisfaction stand in relation to dividend policies This is the main issue which I will review in my paper below. This question relates to a consideration of the corporate dividend policy as to whether shareholders should be paid sufficient dividends or whether or not they are making sizeable profits on the stock market. Over the last half century academics have spoken in great depth over this issue and suggested conflicting theoretical frameworks to explain their points of view.(Frankfurter 2002).The problem is that these assertions often lack empirical depth to the criticism and stumble upon self contradictions in an attempt to explain corporate dividend behaviour.(Frankfurter 2002).Today academic opinion is divided as to whether dividends are attractive to shareholders and will have a positive impact in stock prices.(Frankfurter 2002 )Another school of thought contends that prices are negatively correlated with dividend payout levels.(Frankfurter 2002).The third view is that firm dividend policy is irrelevant in stock price valuation. (Frankfurter 2002).My paper will discuss and try to recon cile all these views towards a better theory and understanding of this issue. These views are best summed up as being based upon, the tax effect ( Litzenberger and Ramaswamy (1980),)Clientele effects explanations (Elton and Gruber, 1970), Agency theory explanations(Easterbrook 1984), Signalling models(John and Williams (1985), and psychological/sociological explanations (Frankfurter and Lane 1992). Frankfurter and Wood (2002) have even gone ahead to suggest that none of the dividend theories are unequivocally verified. Academics and theorists like (Adam Smith 1937) have recognised that there will always be agency costs related to taking care of shareholder priorities and controlling unruly management staff.(Corporate Governance issues). 2- Definitions and views from academics Dividend policy has a large bearing on agency costs and many academics have recognised this (Fama and Fama) but their belief that payments of large dividends would potentially compensate for the shareholders are often ignored during decision making in a company according to John and Kalay 1982 "Debt covenants to minimize dividend payments are necessary to prevent bondholder wealth transfers to shareholders .Although potentially substantial in precipitation of agency costs, its dividend policy is not a major source of bondholder wealth expropriation. In firms where dividend payouts are limited by bondholder covenants, dividend payout levels are still below the maximum level allowed by the constraints" (Frankfurter

Hegel's Phenomenology of Spirit - Unhappy Consciousness Essay - 1

Hegel's Phenomenology of Spirit - Unhappy Consciousness - Essay Example in order to give out a clear description of his plot since he associated this human stage with the early Christian era where people used to turn away from the upheavals of the world’s common life and concentrated on ascetic and monastic lives coupled with prayers. According to Hegel, people heading an ascetic life nurtured unhappy consciousness until they attained the will of truth. To begin with, unhappy consciousness is an instance of self-consciousness because, it arises out of human beings when it is fighting or struggling to attain recognition from others in order to realize individual self-consciousness as a subject (Wilhelm and Hegel 110). Unhappy consciousness lead to fears and troubles that make people feel uncomfortable. It also disturbs their state of mind that makes individuals confused. As a result, victims of unhappy consciousness end up seeking refuge in religious centers and within philosophical systems so as to stay away from the struggles and fights in this stage of mind. In addition, unhappy consciousness turns out to be an instance of self-consciousness since it resolves in making its subjects turn to seek anything comforting. Fear and objectification caused by unhappy consciousness make individuals seek refuge and comfort in beings that do not live visibly (118). They do not attempt or struggle to attain recognition among human beings but isolate themselves and keep-off the struggles (121). This act of turning towards the transcendent being comes because of the initial struggle of consciousness trying to get hold of nature. As those individuals who live monastic life strive to grasp a sense of certainty, they encounter the universal concepts of nature. At the long run, these individuals do not change. Instead, they remain to be the same and maintain their consciousness despite the struggle for seeking refuge. Therefore, unhappy consciousness is an instance of self-consciousness. Unhappy consciousness is an instance of self-consciousness

To What Extent Have the Literacy Practices of English Speakers Been Essay

To What Extent Have the Literacy Practices of English Speakers Been Shaped by Communication Technology - Essay Example In the start, the books were written for a specific class and were handwritten and expensive, therefore were only accessible to a specific class of readers. With the invention of printing machines and later digital communication technology made reading books more common. The production and reproduction of the physical form of text experienced a great deal of changes from its initial stage to the current form, resulting in gradual enhancement of the literacy practice. In the ancient world the words were inscribed in wax or clay tablets but now this carving technique is only used for decorative purposes. The alphabets taken from the Roman and Latin worlds did not allow much convenience with the pronunciation so they also went through change. The written language was more for the religious elite with no space among the words and an audible effort was made to apprehend the words. The Irish invention of word spacing and silent reading made it easy to be read and freed it from its conventi onal purposes (Allington, 2012). In the twelfth century the woodblock printing, which was originally invented in China, made the Europeans copy only the pictures on the page, later full text was also brought onto the page. The radical development came with the invention of hand press by Johannes Gutenberg in the fifteenth century which consisted of metal blocks containing letters on them, and in spite of it being very  expensive it was used to fulfil the demand of books to the western society (Allington, 2012). This print culture was not cherished by all members of the society as the British politicians were afraid of mass literacy, before then the lower class had access only to chapbooks which contained outdated content. Church authorities attempted to deprive the common people of the literature. Newspapers were imposed with heavy tax by the British government to keep them out of the reach of the poor people with the Stamp Act of 1712. Despite all the hurdles put on mass literacy practice, English language was widely printed and literacy practice had increased enormously by the nineteenth century. It is stated (Eliot, 2007) that the literacy rate was 60 per cent in males and 45 per cent in females in 1800 which progressed to 94 per cent and 93 per cent by 1891. The printing press also went through rapid development in nineteenth century. The twentieth century brought more technological development as metal type printing vanished and photographic and chemical processing was established, this brought easy and fast reproduction of text in bulk setting up a wider range of readers by it being economical and accessible to all classes of the society. The industry of book production was in Edinburgh, Scotland in the seventeenth century and through printing English they managed to keep the English readers and readers from other colonies which maintained their British Empire. The less familiarity of the English language for Scottish people gave way to the publication of the first dictionary of the Scots and later with the political and national movements, the vernacular speeches and the ingenuity of writers made other languages to become print-language (Anderson, 2006, in Allington, 2012). The access to the books helped the writers from different regions to convey all the political, economic and

Corporate Social Responsibility in Financial Services Dissertation

Corporate Social Responsibility in Financial Services - Dissertation Example The primary aim of the financial services companies is to provide better service to the depositors and their investors by taking appropriate steps to increase the wealth of the shareholders. In order to provide short-term gains to the shareholders by giving more priority to the short-term interests, the increase in foul play has increased in the operations of the financial services firm thereby compromising on the security of the money deposited or invested. The investors apart from seeking higher returns through efficient pieces of advice of the fund managers are also interested for safekeeping of their shareholder value. This means that the seekers of financial services would not be ready to incur a loss at the cost of expected higher returns. The investors and stakeholders have become more and more aware of the social, ethical and environmental aspects of their investments for which the corporate social responsibility in financial services has attained more and more significance d ay by day. The daily operations of financial services firm are supported with the help of resources available from the societies in which they operate. The manpower and client base available from the societies are the major resources that are used by the financial services firms to run and sustain their businesses. ... ary aim of the financial services companies is to provide better service to the depositors and their investors by taking appropriate steps to increase the wealth of the shareholders. In order to provide short term gains to the shareholders by giving more priority to the short term interests, the increase in foul play has increased in the operations of the financial services firm thereby compromising on the security of the money deposited or invested. The investors apart from seeking higher returns through efficient advices of the fund managers are also interested for safekeeping of their shareholder value (Elangovan and Mohan, 2008, p.34). This means that the seekers of financial services would not be ready to incur a loss at the cost of expected higher returns. The investors and stakeholders have become more and more aware of the social, ethical and environmental aspects of their investments for which the corporate social responsibility in financial services has attained more and mo re significance day by day. The daily operations of financial services firma are supported with the help of resources available from the societies in which they operate. The manpower and client base available from the societies are the major resources that are used by the financial services firms to run and sustain their businesses. It is thus important for the financial services companies to return the benefits to the societies in which they operate. For this reason, the financial services organizations develop their strategies on corporate social responsibility mainly looking into four major areas like manpower sustenance, business integrity, community and the environment. The adoption of corporate social responsibility provides confidence to the investors on the long term sustenance of

Utilitarianism and Deontology Assignment Example | Topics and Well Written Essays - 750 words

Utilitarianism and Deontology - Assignment Example There are many different philosophical perspectives that one could apply to the issue of human cloning; it is the utilitarian and deontological perspective that offer two interesting comparative views. Human cloning has dominated science fiction for decades with scenarios revealing how the practice could go terribly wrong. Ethical debates have proposed many other unique issues with cloning; everything from the development of unforeseen genetic flaws, to the devaluation of life, to whether, or not, a cloned being will have rights and even a soul. (McGee) However, it is the incredible potential of medical â€Å"miracles† that cloning might allow, in all its forms, which includes, ending infertility, eradicating genetic diseases, curing illnesses, replacing damaged organs, and last but not least, the ability to create life as they see fit, that continues to lure supporters. The potential positives and plausible negatives of human cloning are not an easy controversy to weigh. Utilitarianism essentially takes an ultimate stand of; do the ends justify the means? The philosophy cares less about how you accomplish something as long as the overall outcome leads to the greatest amount of overall good and happiness. (Moreland 1) While deontology considers less the outcomes and more about the intention behind doing it. The moral intent is more important in deciding whether something is good or bad, or right or wrong, has greater than the outcomes and results. The ideology embraces the â€Å"Categorical Imperatives,† which include a "universality" within the principles, all humans are rational agents, and must be treated as such.

Corporate Social Responsibility in Financial Services Dissertation

Corporate Social Responsibility in Financial Services - Dissertation Example The primary aim of the financial services companies is to provide better service to the depositors and their investors by taking appropriate steps to increase the wealth of the shareholders. In order to provide short-term gains to the shareholders by giving more priority to the short-term interests, the increase in foul play has increased in the operations of the financial services firm thereby compromising on the security of the money deposited or invested. The investors apart from seeking higher returns through efficient pieces of advice of the fund managers are also interested for safekeeping of their shareholder value. This means that the seekers of financial services would not be ready to incur a loss at the cost of expected higher returns. The investors and stakeholders have become more and more aware of the social, ethical and environmental aspects of their investments for which the corporate social responsibility in financial services has attained more and more significance d ay by day. The daily operations of financial services firm are supported with the help of resources available from the societies in which they operate. The manpower and client base available from the societies are the major resources that are used by the financial services firms to run and sustain their businesses. ... ary aim of the financial services companies is to provide better service to the depositors and their investors by taking appropriate steps to increase the wealth of the shareholders. In order to provide short term gains to the shareholders by giving more priority to the short term interests, the increase in foul play has increased in the operations of the financial services firm thereby compromising on the security of the money deposited or invested. The investors apart from seeking higher returns through efficient advices of the fund managers are also interested for safekeeping of their shareholder value (Elangovan and Mohan, 2008, p.34). This means that the seekers of financial services would not be ready to incur a loss at the cost of expected higher returns. The investors and stakeholders have become more and more aware of the social, ethical and environmental aspects of their investments for which the corporate social responsibility in financial services has attained more and mo re significance day by day. The daily operations of financial services firma are supported with the help of resources available from the societies in which they operate. The manpower and client base available from the societies are the major resources that are used by the financial services firms to run and sustain their businesses. It is thus important for the financial services companies to return the benefits to the societies in which they operate. For this reason, the financial services organizations develop their strategies on corporate social responsibility mainly looking into four major areas like manpower sustenance, business integrity, community and the environment. The adoption of corporate social responsibility provides confidence to the investors on the long term sustenance of

How can a product be repositioned Essay Example | Topics and Well Written Essays - 2500 words

How can a product be repositioned - Essay Example The vitality of the factors and elements such as Segmenting, targeting and positioning can be analyzed form the fact that these can either make or break the future of your product or service that you intend to provide to your consumers. The concept of re positioning of a product or service in the similar way is not a new one. organizations large or small , are faced with the option of repositioning their products , mostly when the market for their current products has matured , the high flux of changing consumer demands , and also the fact that some organizations are faced with severe losses and in some cases end of the life cycle of their products . Thus by re positioning is meant that the organization decided to fabricate basically upon the core product or service. The basic re positioning idea is applied by organizations both to retain the present market share and customers, as well as bag a high number of future customers of the product or service. It is basically a long term plan, which requires detailed market research, product life cycle analysis, market research, competitor analysis etc. Also this provides the organization to renew the marketing mi and change how they deal wit the four P's of the product or the service i.e. Product, Place, Promotion and price. It is an important aspect for you to know also as to how your organization, product and service are perceived in the market place. This helps organizations build positively. Further more, the concepts of Buyer behaviour and marketing communication also come in. The basic buyer behaviour varies from time to time. And marketing communication on the other hand varies but needs the most attention. Here we also need to mull over an imperative reality that re positioning in point of fact also means there is a calamitous need to apportion resources, which in turn means that you need to augment the quantity as well as the quality of communications. Lucid appearance of ideas and policies lend a hand in establishing the brand. Along with this tag along the incurring of extra new costs like in those of: training the employees, Renewing or merely revising a website, purchase of new sales materials, Publicity campaigning, advertising. There is an assortment of ways to re position a brand. The secret to enhanced communication is deemed as high-quality internal communication .It should be a run through to discuss with the staff of the organization and specific departments involved to make them understand why this 'Re Positioning' is taking place , what does the organization aim to achieve with this re positioning etc . Once this internal sharing of ideas is done with. The organization can now focus on external communication. (Pellow, 1) Main Body: Relationship between the three Concepts : Product Re - positioning , Communications , Buyer Behaviour The relationship between consumer buying behaviour and communications, and product repositioning is very straight and quite comprehensible. The fact that he marketing mix is a very vital attribute of a product. The four P's need to be based first, then the consumer buyer behaviour and communication needs to be settled. In regards o communication, is specific external communic

World Cultural Heritage Essay Example for Free

World Cultural Heritage Essay In this world, since its existence, there were so many things happen. Some were happened for a reason, some were not. Up until now, there are thousands of places on earth that people might look at them as the symbol of arts, source and origin of some cultures and also religions. These World Cultural heritages include tangible culture (such as buildings, monuments, landscapes, books, works of art, and artifacts), intangible culture (such as folklore, traditions, language, and knowledge), and natural heritage (including culturally significant landscapes, and biodiversity). Nowadays, there is an organization that claimed themselves as UNESCO (United Nations Educational, Scientific, and Cultural Organization). This international body has been successful at gaining the necessary support to preserve the heritage of many nations for the future. According to UNESCO, world cultural heritage is any of various areas or objects designated as having â€Å"outstanding universal value† under the Convention Concerning the Protection of the World Cultural and Natural Heritage. This convention, adopted by UNESCO in 1972, provides for international cooperation in preserving and protecting cultural and natural treasures throughout the world. Other than that, this organization also contribute to peace and security by promoting international collaboration through education, science, and culture in order to further universal respect for justice, the rule of law, and human rights along with fundamental freedom. The World Heritage List includes 962 properties forming part of the cultural and natural heritage, which the world heritage committee considers as having outstanding universal value. Among all of places, few of them are situated in Malaysia. The most famous world cultural heritage site in Malaysia is situated in Malacca. There are many historic values in Malacca. It was established by the Srivijayan Prince Parameswara, the Sultanate of Malacca. Legend said that Parameswara decided to establish Malacca after seeing one of his dogs defeated by a mouse deer, naming the state after the tree he was resting under. On 7 July 2008, Malacca was officially listed as a UNESCO World Heritage Site in recognition of its important cultural and historical significance. Many museums have been established to contain the significant artifacts. For instance, Melaka Sultanate Palace Museum, Baba Nyonya Heritage Museum and Museum of History and Ethnography. Moreover, one of the famous places to visit is A Famosa- the most famous legacy from the time Malacca spent under Portuguese rule. It is the remaining of the Portuguese port, which was build to defend Malacca. Other than that, Malaysia also is well known for its rich in biodiversity. Gunung Mulu National Park situated in Sarawak is one of the places that were recognized due to its natural uniqueness. This mountain is Important both for its high biodiversity and for its karst features, Gunung Mulu National Park, on the island of Borneo in the State of Sarawak, is the most studied tropical karst area in the world. The 52,864-ha park contains seventeen vegetation zones, exhibiting some 3,500 species of vascular plants. Its palm species are exceptionally rich, with 109 species in twenty genera noted. The park is dominated by Gunung Mulu, a 2,377 m-high sandstone pinnacle. At least 295 km of explored caves provide a spectacular sight and are home to millions of cave swiftest and bats. The Sarawak Chamber, 600 m by 415 m and 80 m high, is the largest known cave chamber in the world. The property is home to one of the worlds finest examples of the collapse process in Kars tic terrain and provides outstanding scientific opportunities to study theories on the origins of cave faunas. The deeply-incised canyons, wild rivers, rainforest-covered mountains, spectacular limestone pinnacles, cave passages and decorations found within the property produce dramatic landscapes and breathtaking scenery that is without rival. These world cultural heritage sites are not only importance for the world to see, but the values also make it important to us individually. Nowadays, Culture heritage and natural heritage is increasingly endangered due to traditional cause of decay and even changing of social and economic conditions. Conserving the condition of the cultural heritage allow many benefits such as giving the property an international recognition thus allowing promotion of local and national pride. It also contributes to the identity and branding of territory, which is relevant in the age of globalization and fierce competition. By joining hands to protect and cherish the worlds natural and cultural heritage, it expresses a shared commitment in preserving our legacy for future generations. Preserving the world cultural heritage will develop awareness among the youngsters about the existence of it. Besides that, the importance of world cultural heritage also lies within the culture itself. The importance of culture lies in its close association with the living of the people. Different cultures of the world have brought in diversity in the ways of life of the people inhabiting different parts of the world. World heritage culture is important as it shape peoples attitude and personality and reflect ones cultural identity. To preserve the continuity of the culture for futute legacy and ensure the young generation appreciate the uniqueness of the culture. First importance is the culture heritage reflects the lifestyle and culture people living around it. For example,people living near the Kinabalu Park ,the culture will be based on forestry, higher altitude lifestyle like low temperature plants. The second reason is they will give an attraction from people around the world resulting an assimilation of new culture. For example, the Gunung Mulu is located in rural area,people around the world visits and try to learn the culture as well as they teach the locals new thing. In the nutshell, it is very important for us and to the world to preserve what our ancestors and peoples before us has left. We may not see what is coming for us in the future. The past might be the good source of guidance, and also good information to tell who we actually are.

The Effect Of Government Expenditure Economics Essay

The Effect Of Government Expenditure Economics Essay Pakistan stood categorized in the sixties by high rates of growth and it was widely believed that this exclusive preoccupation with growth had resulted in concentration of income in a few rich families. It has been argued that the manufacturing sector received favorable treatment at the hands of government policy thereby redistributing income from agriculture to industrial sector through over-valued exchange rate for industrial Sector, provision of cheap credit, liberal import of capital goods at below equilibrium cost of capital. The relationship between government expenditure and economic growth has continued to generate series of debate among scholars. Government performs two functions- protection (and security) and provisions of certain public goods Protection function consist of the creation of rule of law and enforcement of property rights. This helps to minimize risks of criminality, protect life and property, and the nation from external aggression. Under the provisions of pu blic goods are defense, roads, education, health, and power, to mention few. Some scholars argue that increase in government expenditure on socio-economic and physical infrastructures encourages economic growth. For example, government expenditure on health and education raises the productivity of labor and increase the growth of national output. Similarly, expenditure on infrastructure such as roads, communications, power, etc, reduces production costs, increases private sector investment and profitability of firms, thus fostering economic growth. However, some scholars did not support the claim that increasing government expenditure promotes economic growth, instead they assert that higher government expenditure may slowdown overall performance of the economy. For instance, in an attempt to finance rising expenditure, government may increase taxes and/or borrowing. Higher income tax discourages individual from working for long hours or even searching for jobs. This in turn reduces income and aggregate demand. In the same vein, higher profit tax tends to increase production costs and reduce investment expenditure as well as profitability of firms. Moreover, if government increases borrowing (especially from the banks) in order to finance its expenditure, it will compete (crowds-out) away the private sector, thus reducing private investment. Furthermore, in a bid to score cheap popularity and ensure that they continue to remain in power, politicians and governments officials sometimes increase expenditure and investment in unproductive projects or in goods that the private sector can produce more efficiently. Thus, government activity sometimes produces misallocation of resources and impedes the growth of national economy. Public Finance is to provide information to all arms of government in other to provide useful data as done for the developed nations that transferred Pubic Finance technology to developing countries. However, the public finance technological transfer has not been used in developing countries to develop their economies. One of the assumptions might have been due to culture mingled with public finance information made available to policy makers. The realities have been x-rayed by public finance and practices. Thus, ID omen citied the following: Economic growth represents the expansion of a countrys potential GDP or output. 2. OBJECTIVE: 1. Short run relationship between government expenditure and economic growth of Pakistan. 2. Long run relationship between government expenditure and economic growth of Pakistan. 3. LITERATURE REVIEW: Ranjan KD, Sharma C Examined the effect of government development expenditure on economic growth during the period 1950-2007. The authors discovered a significant positive impact of government expenditure on economic growth. They also reported the existence of co integration among the variables. Easterly and Rebelo (2009) find that public investment in transport and communications in developing countries leads to higher economic growth. Abdullah HA, 2000 analyzed the relationship between government expenditure and economic growth. The author reported that the size of government is very important in the performance of economy. He advised that government should increase its spending on Infrastructure, social and economic activities. In addition, government should encourage and support the private sector to accelerate economic growth. Ogiogio GO Revealed a long-term relationship between government expenditure and economic growth. Moreover, the authors findings showed that recurrent expenditure exerts more influence than capital expenditure on growth. On empirical research using panel data, one can cite (among others) the papers by Devarajan et al. (1996) henceforth DSZ and Gupta et al. (2005) On the composition of government expenditure and growth for a sample of developing countries. DSZ found a negative (positive) and significant relationship between the capital (current) component of public expenditure and per capita real GDP growth for 43 countries over the period 1970-1990, while Gupta et al. (2005) found quite the reverse for 39 countries between 1990 and 2000. Lee et al. (2009), commenting on Islam (2009), observe that slope heterogeneity, even when random, causes major difficulties for estimation in dynamic panels. They contend that potential heterogeneity in growth rates of different countries renders the standard fixed effects panel estimator to be biased. Given the importance of slope heterogeneity as an econometric issue (see, among others, Baltagi (1995), and Pesaran and Smith (1995), we extend the methodology implemented by DSZ by explicitly modelling the potential cross-country heterogeneity in capital and current expenditure. The fixed effects panel estimator used in DSZ assumes that all the slope coefficients, adjustment dynamics and error variances are invariant across all countries. However, these assumptions are unlikely to hold, because countries are not unanimous in their views on the role of government expenditure in fostering growth, and this largely depends on the political stance of the party in power. The importance assigned to capital and current expenditures, i.e., the 1 commitment to spend on viable long-term capital projects vis-a-vis the spending on recurrent types of expenditure like wages and salaries, subsidies and pension arrangements, also vary across countries. The potential cross-country variations in the parameters of the level and composition of public expenditure are consequently modelled as a linear function of country-specific levels of current and capital spending in this paper. Wagner says, (1999:46) That there is a positive relationship between the per capital income of the citizens in a country with government spending such that the income elasticity of government expenditure is always greater than one. However, other researchers have discovered that the relationship is not always certain because there are periods when government expenditure in relations to the national income will decline when the elasticity of income to government expenditure is less than one. Ram Rati (1986) concluded that overall impact of government size and government expenditures on growth is positive. Rostow Musgrave model (1999:46) carried out a research on growth of public expenditure and concluded that, at the early stages of economic development, the rate of growth of public expenditure will be very high because government provides the basic infrastructural facilities (social overheads) and most of these projects are capital intensive, therefore, the spending of the government will increase steadily. The investment in education, health, roads, electricity, water supply are necessities that can launch the economy from the practitioner stage to the take off stage of economic development, making government to spend and increasing amount with time in order to develop an egalitarian society. To illustrate, models with varieties of capital goods is related to technological process corresponds to an expansion of the number of capital goods, the production function Barros (1979) Tax-smoothing hypothesis says that, if the marginal cost of raising tax revenue is increasing the optimal tax rate is a martingale. This implies that changes in the tax rate will be permanent and, given their different effects on growth, under the two types of growth models, very useful in empirically distinguishing between the exogenous and endogenous models. THEORETICAL BACKGROUND: According to the Keynesian there is increase in government expenditure, the country will grow, holding other things constant. Y = C + I + G+ (X-M ) Y = GDP C=consumption I= Investment (X-M)=Net exports 4. DATA AND METHODOLOGY: Data is collected on annual basis from the year 1972 to 2008 from various issues of economic survey of Pakistan and IFS (International Financial statistics) for GDP and government expenditure. That is converted into growth form. Oxmatrics software is used for estimation. Model: Y=f (GE) Where GE=Government expenditures The model is specified as Y=ÃŽ ±+ ÃŽ ² (GE) +  µ Where GE=Government expenditures  µ=error term Y = GDP growth 5.Estimation technique: Unit root Test: Both series GDP and GE are unit root. AS ADF greater than critical value so we can further proceed for co integration. Regression model: After regression disequilibrium saved the residuals , further test the residuals for stationary , so the residual is stationary it means co integration is exist between GDP and government expenditures. Unit root for disequilibrium: As ADF is less than critical value so the series is stationary and co integration exists. ERROR CORRECTION MODEL: Now check the long run relationship between government expenditures and GDP growth by ECM. This is error correction model Dgdp = + 0.9029*DLgov 0.8551*deq_1 So the value of dis equilibrium is negative and lies between 0 to 1 there exists long run relationship between two variables. 6. Policy implications: The results suggest that the economic growth can be achieved by increasing government expenditures. As we know that increase in government expenditures has also other implications for the economy and this study is limited in scope. So we suggest that government expenditures hike will increase GDP keeping other things constant.

Mens Control in William Shakespeares The Merchant of Venice Essay

Men's Control in William Shakespeare's The Merchant of Venice In Shakespeare’s The Merchant of Venice, the scene opens to reveal a society controlled by men. Men, who live in the foreground of Venetian society, wield their power in business, government, and family life. In the background, women conduct their lives quietly. They are subservient to their husbands and fathers and are regarded as helpless and in need of male guidance in areas of decision making. Though in Shakespeare’s time such a societal structure was largely acceptable, the modern reader views the subjugation of women with aversion, and the ways in which Shakespeare presents the female characters in this play perhaps show that he too was not entirely comfortable with the unbalanced scale of power between men and women. Portia, Nerissa, and Jessica, the three female characters in The Merchant of Venice, are bound by the strictures which society has imposed upon them. All three, however, seeking to gain the freedom to act as they please, disguise themselves as men. Once they are seen as men, the women are able to escape the societal constraints which previously limited their actions. The fact that they must disguise themselves as men in order to achieve empowerment and freedom of action encourages the reader to question the justice of the social hierarchy. Because the setting in The Merchant of Venice is characterized by a hierarchy of gender roles in which males hold authority over females, a character like Portia’s father, one who reigns in authority over his daughter, is made possible. Additionally, the presiding social structure allows for his action of subjecting Portia to the mechanism which will determine her husband. Fortunately for Porti... ...e disguised as men are completely incongruous with the societal structure which dominates their world. It seems no coincidence that Shakespeare had all three female characters in the play disguise themselves as men. Nor does it seem a coincidence that while disguised, each woman rebels against the social structure which prohibits her to do certain things and make certain decisions simply because she is a woman. Under male disguises, the women are able to act with the same freedoms men possess. Thus, it is plausible to suppose that Shakespeare meant to make a statement about the social hierarchy prevalent in the world in which he lived, encouraging a reevaluation of its fairness. Whatever Shakespeare meant to say about the issue, for today’s audiences, The Merchant of Venice certainly encourages questioning the justice of its male-dominated social hierarchy.

Cash Management and Short Term Financing

Running head: CASH MANAGEMENT AND SHORT-TERM FINANCING Cash Management and Short-term Financing University of Phoenix Cash Management and Short-term Financing Structured cash management and efficient short-term financing are both beneficial and important for a company to remain competitive in the market; this will help increase potential profit and shareholder value with the rising stock. Cash management is a tool for the company can use to manage idle funds (cash balances) that are not generating revenue giving the company the ability to use the freed cash to build sources for short-term financing through interest building securities. Cash management techniques include marketable securities, international cash management, collection/disbursement float, and Electronic Funds Transfer. Short-term financing give the company the ability to secure cash needed for production enabling the company to maximize profitability. Short-term financing methods include inventory financing, commercial paper, trade credit, bank loans, receivables financing, foreign borrowing. Cash management Techniques Float is the difference between the recorded available cash and the amount that has been credited by the bank, this results in a time delay when dealing with banking system and the mail service and clearing checks. A company will use the float to minimize collection times and increase disbursement dates to give them more time with the cash on hand to use in interest building securities. Electronic Funds Transfer is quickly replacing the out-dated check system, with the EFT system the ease of electronically deposited funds; this reduces the lag or down time traditionally associated with the manual check. This system increases the efficiency of the banking system and decreases float times for the company. International cash management allows the company to deposit money in countries with a high interest rate returns. This allows the company to invest in high return loans in a source of generating additional revenue. Marketable securities turn non-generating cash into interest generating revenue through CD’S, treasury notes, treasury bills, savings deposits, Eurodollar deposits and commercial paper. The techniques used in cash management are used to reduce or eliminate unwanted cash balances that do not generate revenue and turn them into interest earning securities. Collections control and management is vital in eliminating unwanted cash balances, the entire purpose is for the company to retain the highest rate of cash solvency to maximize profitability. Companies have reduced the use of â€Å"float† methods with the increase of EFT’s, time is not an issue with the EFT, and this transition takes place immediately. However, both float and Electronic Funds Transfer can be used in collections to maximize return. International cash management allows the company to reach for the highest interest rate of return not found in the United States, the use of this technique is more challenging; the ability to manage funds through different geographical locations and time zones can be extensive. The International cash is always susceptible to currency fluctuations, interest rate changes that could end in a lesser value than originally deposited. The International cash management runs at a high risk for the company but also has the potential for the largest gain. Marketable securities are a good technique for cash management but run the risk of company loss with increasing interest rates. Trade credit occurs when a seller or manufacturer of goods extends credit to the company in the form of accounts payable. Bank loans can be used to provide the necessary cash to implement expansion or new product development. Commercial paper is a certificate issued to the investor, by the company; this constitutes a debt that will be repaid. Foreign borrowing lets a company seek outside the normal parameter to obtain loans at a lower rate. Inventory and receivables financing let the company try to get based on their current asset value. Between all the financing options Trade credit constitutes approximately 40% of all short term credit to companies with trade credit a company can take advantage of discounts when the payments are made in a timely fashion, this give the company flexibility in deciding on how long to carry their credit debt. Both bank loans and trade credit are short-term provide immediate funds of financing. However, bank loans are at risk of requiring a higher compensating balance, which lowers the amount of actual money lent to the company. Commercial paper methods of financing have the advantage of being issued below the prime interest rate that banks charge. Commercial paper does not have the challenge of compensating balance requirements but the paper can be lost, stolen, misplaced, or damaged. The commercial paper process has mostly been replaced by a computerized version. Foreign borrowing, like the other techniques, is also short-term but runs the risk of foreign currency inflation or fluctuations. The use of receivables and inventory as collateral in financing is also short-term. Receivable has the advantage when the asset level inflates, as the value increase the amount of money increase that the company can borrow against. The uses of short-term financing or cash management both maintain the goal of ensure sufficient funds the company will need to maximize profitability. Cash management utilizes control over the receipt and payment of cash as to minimize non-earning cash balances and to capitalize the freed up cash in interest earning modes.

Discuss the problems of the Central Business Districts of MEDC cities

In this essay I will be writing about the Central Business District (CBD), it's problems, and possible solutions to them. Also I will show how the CBD relates to the Burgess and the Hoyt models. The main things that are located in the CBD are: shops, department stores, and office blocks. The main functions of the CBD are commerce, employment and entertainment. The CBD has the widest range of shops, and the highest amount of department stores, as it is very densely populated during the day. People come to the CBD for shopping, as you will have no trouble finding what you are looking for. In the CBD lots of businesses have their offices there. For example: solicitors, banks etc. The entertainment is also located in the CBD. Theaters, cinemas, nightclubs etc. are all located in the Central Business District because it is very highly populated in the evenings/nights. A good example is London's West End. The CBD is located in the same place on both Burgess's and Hoyt's models which is in the middle of the city. (As shown on the diagrams below.) It is located there because it is easily accessible and most of the public transport meets there. Central Business District Central Business District The CBD faces many severe problems due to the high density of people, cars etc. Many of those problems are trying to be solved by the government, but unfortunately so far they have not been successful. One of the major problems is traffic congestion. Traffic congestion is a very big problem that causes not only jammed streets, and delays but also pollution, which is another big problem. Traffic congestions is caused by the fact that the streets and roads where laid down before the car was invented. Back then horse-carriages were in use and the roads were not getting jammed. The other thing that causes this problem is the very high ownership of cars. Many people own more than one car. Many roads are being gridlocked for many minutes or sometimes even hours. Also lots of shops , services and offices are located in the CBD so people want to get to them, so the roads are congested. Some solutions have been attempted to solve the problem. These include: Ring roads, by-passes that divert the traffic from the CBD and instead go around it. It may seem that it would take longer, but that is not the case, as in the CBD you cannot travel fast, there are traffic lights, etc. but on the motorway there are no traffic lights and you can travel much faster so you take less time then you would if you travel through the CBD. An example of a ring-road is the M 25 going around London. It is so successful the government is planning to expand it so each side has 6 lanes, instead of the 3 it has now. Another solution proposed by me, is the banning of heavy lorries from going through the CBD as they take up lots of space and cause congestion. That way there will be more space for cars, and lorries do tend to block streets while turning, etc Also I think that multistory car park and † park and ride† schemes would help to reduce the traffic in the CBD. It would help because people would park their cars in a multistory car park or the would park it on the suburbs of the city and ride to the CBD using public transport, that not only would save them time, but also money because parking in the CBD is very expensive, and it's hard to find a space. In Rio de Janeiro in Brazil they have a scheme in which on Mondays, Wednesdays, and Saturdays only cars with an odd last number plate are allowed to drive in the CBD and on the remaining last 3 days, Tuesdays, Thursdays and Saturdays. On Sunday anyone can drive. I think that this method of reducing cars in the CBD is good and successful for cities in LEDC countries because people can only just about afford one car let alone two. That's why this would not be doing so well in MEDC countries such as England, because people can afford two cars, one with an odd number plate and one with an even number plate so they will be able to drive on any day of the week. The solution attempted by the Mayor of London is † Congestion Charging†. Basically you have to pay 5 pounds so that you can drive into the CBD. This method has been successful in one-way, but yet still there are a lot of cars in the CBD, although some people do choose to go around now, that they have to pay, or they choose to travel by the public transit. I also think that if the government invested some money into improving the public transport drastically, then probably more and more people would choose to travel by it, recognising that it is faster than travelling by car and not so gross. Also another solution that I think would be successful is car sharing. For example I think that some people go to 2 places that are really close to each other, and yet still they take 2 cars, when they could take only one. That would help because there would eventually be less cars around, so there will be less traffic jams, so people will see that it is a good idea because they get to work on time, or maybe even they can sleep for another 10 minutes or so. Furthermore I think that pedestrianization of certain high streets is a good idea. For example Bond Street in London. That way it will encourage people to take the public transport as they won't be able to go on that road in their car anyway, and the pedestrians will have more space so they will move about more freely. Also allowing only â€Å"black taxis† and busses on to certain roads is a good suggestion, because it will also encourage people to take the public transport. In addition I think that introducing bus lanes is an excellent scheme, because the busses won't be stuck in the traffic jams, and they will take up less space because they will have to keep to their lane. That way more people might start to travel by busses, as they will see that it is quicker. This will result in the number of cars on the road to decrease. The second chief problem the CBD is facing is pollution. Pollution is the air that is polluted but also water, land, noise and garbage in the streets. Polluted air causes many diseases such as asthma and bronchitis. Not only it is not healthy for us to breathe in, but also it doesn't look to appealing when car fumes are floating everywhere. Vehicle fumes, especially petrol and diesel, mostly cause polluted air. Cars are the biggest air polluted in the CBD, as there are thousands of them. Traffic congestion makes the pollution even worse because while the car is stopped, it r releases more fumes than it does whilst moving. The government are tackling this problem, but so far they do not seem to succeed in it. In my opinion there are quite a few solutions to this dilemma. Firstly I think that banning heavy lorries (as I mentioned before) is a very good way of reducing pollutions as they give of many fumes and most of them run on diesel, which is very bad for the environment. That way fewer fumes will be released so it will be healthier to live/work there. Secondly I think that if all the busses were running on methane, then it would release less poisonous fumes than diesel. Methane is more environment friendly than petrol or diesel and it won't be so destructive to the surroundings. Thirdly I propose that people start to use bikes more than they do now. For example they could get to work by bike rather than by car. That way not only it would be better fro the environment, but also the people will work on their fitness, and some might find it highly entertaining. In Japan, China, and S/N Korea many people travel by bikes. Bikes are the mean form of transport over there and the atmosphere is cleaner. In addition I think that increased road sweeping can be successful. If the government invested more money into the cleaning processes of the CBD then it would help to solve the problem of pollution. If we had more road sweepers employed and maybe a higher pay for them then the CBD will ultimately be cleaner and the pollution level will drop (hopefully). Like they do in Holland. Also there is lots of garbage left lying around the streets at the end of the day left by coffee shops, cloths stores, restaurants etc. that should be cleaned up immediately, because it attract lots of diseases and looks unpleasantly. Another solution to undertake this problem is to enhance the tree and shrub planting. I think that would be successful, because trees and shrubs photosynthesis producing oxygen so they make the air cleaner. That way we could have more hedges, grass areas etc. and the air will be cleaner. Noise pollution can be sometimes unbearable as well. It is mostly produced by cars, lorries motorbikes etc. There aren't many solutions to this problem. The main thing is to reduce the amount of vehicles driven in the CBD and this is linked with traffic congestion. The further difficulty the CBD faces is the high cost of land. The land in the CBD is very expensive because lots of shops and businesses locate their stores/offices and it's become very cramped. Because of this, the competition some traders have had to leave and re-locate their business out-side the city center. Every business wants to set up there because all the people go there either for shopping, work or entertainment, also its easily accessible. One of the solutions I would attempt is to start building high-rise office blocks on a small area, but tall. That way we save space and money because we only pay for the space we take up on the ground. So now more offices can situate their offices in the city center. Another solution for this conflict is the building of out-of-town shopping centers in the suburbs or the rural-urban fringe. They need to take up lots of space so the land is cheap there so they have the money to build there stores there. People then travel there to and back. This process is called decentralization. Also most of them have free parking which is very attractive to customers, as they don't like paying for the parking space. In conclusion I think that the solution to the CBD's problems are hard to implement because the CBD is very crowded big, and it involved lots of co-operation from all of the people. Furthermore I don't think the CBD will ever get rid of it's problems because it will continue to get bigger and the amount of cars/shops/businesses etc. will always grow, and so will the competition, so it will be impossible to get ride of urban decline , pollution, traffic congestion etc.

Industrial Relations Essay

Introduction †¢ relations which are the outcome of the employment relationship in an industrial enterprise †¢ every industrial relations system creates a complex of rules and regulations to govern the work place and work community †¢ main purpose: to maintain harmonious relations between labour and management by solving their problems through collective  bargaining †¢ the government/state shapes industrial relations with the help of law, rules, agreements, awards of the courts Historic Facts †¢ The concept of industrial relations was developed with the industrial revolution †¢ Prior to this it was considered master and servant relationship †¢ The workers were considered and treated like any other  commodity which could be easily purchased and replaced †¢ Wages and conditions of services were poor and this situation was not only in India but also in England and other European countries †¢ The term Industrial Relations comprise Industry and relations. Objectives †¢to improve economic conditions of workers in the present scenario of industrial management and political government †¢to avoid Industrial Conflicts and develop harmonious relations †¢to raise productivity to a higher level †¢to reduce strikes, lockouts and gheros by providing better wages and improved living conditions and fringe benefits to the workers †¢encouraging the sense of ownership among workers for Industries †¢to enhance government control over units and plants that are running under losses or  where production has to be regulated in public interest †¢improved Industrial Relation will protect the interest of labour and well as management. Three partners †¢ Trade Union: Trade unions try to protect interest of workers, they insist upon the development of cultural and educational qualities of there members. †¢ Employers & their organizations: They try to protect the interest of employers, to create healthy industrial atmosphere, so that the objectives of the organization may be achieved. They try to get full co-operation of workers for achieving this objective. †¢ Government: The government plays an important role in establishing better industrial relations. Government passes various laws to protect the interest of both employers and employees. Causes of poor Industrial Relations †¢ An attitude of contempt towards the workers on the part of the management †¢ Inadequate fixation of wages or improper wage structure †¢ Indiscipline †¢ Unhealthy working conditions at the workplace †¢ Lack of human relations skills on the part of supervisors and managers †¢ Desire of workers for higher bonus, wages or daily allowances †¢ Desire of employers to pay as little as possible to its workers Cont.. †¢ Inadequate welfare facilities †¢ Dispute on sharing the gains of productivity †¢ Retrenchment, dismissal and lockouts by the management †¢ Strikes by the workers †¢ Inter-union rivals †¢ Mental inertia on the part of the management. Industrial Disputes Introduction ââ€" « conflicts, disorder or unrest arising between workers and employers on any ground ââ€" « Such disputes finally result in strikes, lockouts and mass refusal of employees to work, until resolved ââ€" « harm both parties employees and employers ââ€" « always against the interest of both employees and the  employers Principles assigned by courts for  judging the nature of disputes †¢ The dispute must affect large number of workmen †¢ The dispute should be taken up by the Industry Union †¢ The parties involved in dispute must have direct interest †¢ The consulted demand must become grievance †¢ Workmen can raise Industrial Dispute himself under Section 2A of Industrial Disputes Act -1947 Forms of Industrial Disputes †¢ The Industrial Dispute can arise in any of the  following form given below: ââ€" « Strike ââ€" « Lockout ââ€" « Gherao Strike †¢termination of work †¢refusal to work of any number of persons will result to a strike †¢if workers are going on mass casual leave under common  understanding this will also result in strike †¢the workmen on strike must be employed in an ‘industry’ which has not been closed down †¢the relationship of employers and employees continues even though in a state of suspension Lockout †¢ Section 2(1) of the Industrial Disputes Act, 1947 defines â€Å"lockout† to mean the temporary closing of a place of employment or the suspension of work, †¢ Or, the refusal by an employers to continue to employ any number of persons employed by him, †¢ lockout, thus, is the counterpart of strike – the corresponding weapon the hands of employer to resist the collective demands of workmen or to enforce his terms †¢ the suspension of work as a disciplinary measure does not amount to lockout †¢ temporary suspension of work called lay-off is not lock-out Gherao †¢ Gherao means encirclement of the managers to  criminally intimidate him to accept the demands of  the workers. †¢ As per the oxford English Dictionary: ââ€" « Gherao means a protest in which workers prevent  employers leaving a place of work until demands are  met.

Population, Urbanization, and Environment Essay Example | Topics and Well Written Essays - 500 words

Population, Urbanization, and Environment - Essay Example Reports display that about 2% of the world’s population resided in urban areas in 1800, gradually with the advent of industries and better opportunities of health care, jobs, education, recreation, social setup, advances in technology, people started migrating from villages to the urban areas leading to further urbanization. People residing in urban areas show more fertility because of availability of better health care facilities; this has decreased the mortality rate and hence promoting greater longevity and life expectancy of human beings. This is one of the biggest contributing factors in the rise of population. Developed nations are under the opinion that more hands means more sources of income and so they promote having more kids as helping hands. This mental makeup is creating chaos in these countries due to amplified competition for basic amenities. Those who are in big cities they can afford good education and well paid jobs, in turn they can afford better house, living standards, and quality life to their children, this attracts people who are residing in rural area to lead the urban standard and quality of life and to provide security to the family. Urbanization is the result of providing better opportunities to the people. Urban population is contributing a drift in the environment by consuming food, energy, water and land and deteriorating the environment by establishing more industries and other social organizations to fulfill the rising needs of the population. Energy is consumed in the form of transportation, making house, roads and other infrastructure, for cooking, nuclear power plants and weapons, other machineries emitting hazardous chemicals in the environment. We are digging out everything from the nature and in return we are providing pollution of land, air, water and also human brains as when demands are not fulfilled and resources are limited people are promoting corruption, terrorism and unfair means. Thereby, causing deleterious

Mary Seacole Research Paper Example | Topics and Well Written Essays - 1250 words

Mary Seacole - Research Paper Example Because historians did not begin to study this great women until 1970s, a lot of the information regarding her life was lost with time. All the work done on Mary Seacole, whether in academic papers or in popular media can be dated to within the last 30-40 years. But, even at this late date, historians have dug enough to give us a pretty accurate picture of Mary Seacole's life from her birth to her death. Through the dedicated work of several writers over the past few decades, we know a lot more about Seacole today than we did even twenty-five years ago. Yet, there remain a number of gaps in our knowledge regarding Mary Seacole and as a result of the fact that her life and achievements were completely ignored after her death and hence lost in the mist of time, there is little hope of scholars and historians learning much more about this forgotten heroine. Of the hundreds of books and articles written on Seacole, this essay has shortlisted two books and an article to discuss Seacole's contribution to history. Robinson has done a thorough job of researching Seacole's life and the various influences on it. Her book is much more complete since Robinson takes the pains of putting together bits and pieces of information from various sources to come to conclusions that help us better understand Seacole. Ramdin too analyzes Seacole's life. However, he is almost entirely dependent on her autobiography and as result, Ramdin's book is more a retelling of the Seacole story and does not add much to the canonical information available about Seacole. Since very limited information is available about Seacole, mostly because of lack of interest in her life, it is normal to ask why Seacole's story was lost in time while Nightingale became the inspiration of nurses around the world. Seaton attempts to answer this question and look at the various attempts made in the last few decades to restore her memory. The historians working on Mary Seacole have a tough time finding and validat ing information related to this heroine of the Crimean War. Almost everything that we know today about her life is through her autobiography, "Wonderful Adventures of Mrs. Seacole". But historians like Robinson have been able to glean a wealth of information from other primary things "reported in transcripts...[of] a court case, recorded in her will, and printed in letters published in Punch and The Times." (Robinson 7). For example, Seacole does not mention her maiden name or her father's name anywhere in her autobiography. But based on her will, records of army personal posted in Jamaica around the time Seacole was born and "an entry Kingston Registers of Death of a spinster, Louisa Grant",(10) Robinson was able to deduce to that Seacole's father was named James Grant. Similarly, even though Seacole never mentions the year of her birth, and her birth was never registered, her death certificate helps Robinson place her birth around the year 1805. The first chapter of Robinson's boo k also discusses the presence and influence of several other people in her life including her mother, and a grandmotherly lady who is not identified by name. Robinson also takes pains to explain Seacole's social status in the little Jamaican island as well as in Britain, which she apparently visited as a teenagers. All these details are extremely important in an introductory chapter about a women who