Wednesday, October 30, 2019

Organizational ledership at the Huffington Post Essay

Organizational ledership at the Huffington Post - Essay Example The researcher states that Arianna Huffington currently serves as President and Editor-in-Chief of The Huffington Post Media Group, which following the acquisition of her website in 2011 by AOL, includes responsibility for a number of associated online properties owned by the multi-media conglomerate. Huffington’s leadership and organization ability was clearly recognized by AOL at the time of the acquisition, and she appears to have taken on even more responsibility at the new company than she had when The Huffington Post was independent. Arianna Huffington recently became embroiled in a media turmoil related to corporate management at AOL when she effectively fired Michael Arrington, the editor and founder of the popular ‘TechCrunch’ blog which had also been acquired by AOL. Despite the widespread acknowledgement of Arrington’s conflict of interest in publishing stories on venture capital themes and start-up companies in which he was also to lead investme nt in, many analysts were surprised more by the apparent power that Huffington had acquired within AOL itself in corporate management. Arianna Huffington’s rise to power, wealth, and fame spans 60 years from her birth in Greece, education at Cambridge, and activism in conservative Republican causes for her husband in the 1980’s, to running for governor of California in the 1990’s and founding The Huffington Post in 2005. She is widely regarded to have changed the way news in published, read, and discussed with her blog and social network driven website. A review of Arianna Huffington’s life and organizational leadership style depict a portrait of an extremely powerful, well connected, and successful woman who has achieved a position of strength in America’s cultural, political, and corporate environments that few other figures in history have achieved. 2) The Current Situation of the Huffington Post The AOL Company of today, led by CEO Tim Armstron g, is a vastly different organization than the original â€Å"America Online† company that merged with Time-Warner in 2000 under the direction of CEO Steve Case. The AOL merger has become a case study in business management and is seen as one of the worst corporate management mistakes of all time. AOL emerged as the gateway to the internet for millions of first time users in the late 1990’s through its telephone-based ISP services. It has since come to be seen as one of the leading examples of the â€Å"dotcom† era, the huge speculative frenzy that coincided with the initial internet boom in the stock market. (Case, 2011) At the time of the merger in 2000, AOL had a market value of around $163 billion dollars, and was considered on equal standing with the media giant Time-Warner in value based on market capitalization. (Johnson, 2000) Nine years later, Time-Warner â€Å"spun-off† AOL from its business organization, as a new company with a second IPO, and its market capitalization was just over $3 billion dollars. (Bavdek, 2009) AOL’s dial-up based ISP business had been made nearly redundant by advances in broadband, wireless, and mobile technologies. What remains unclear is why the Time-Warner-AOL merger failed so badly, in that management was unable to bring any value from the venture or integration between all of the media channels, internet sites, and cable networks brought together under the single company organization. Instead, a staggering $160 billion dollars of market capitalization was lost or squandered by the deal through corporate managem

Monday, October 28, 2019

Critique of Pure Reason Essay Example for Free

Critique of Pure Reason Essay Immanuel Kant, (born April 22, 1724, Konigsberg, Prussia [now Kaliningrad, Russia]—died February 12, 1804, Konigsberg), German philosopher whose comprehensive and systematic work in epistemology (the theory of knowledge), ethics, and aesthetics greatly influenced all subsequent philosophy, especially the various schools of Kantianism and idealism. Kant was one of the foremost thinkers of the Enlightenment and arguably one of the greatest philosophers of all time. In him were subsumed new trends that had begun with the rationalism (stressing reason) of Rene Descartes and the empiricism (stressing experience) of Francis Bacon. He thus inaugurated a new era in the development of philosophical thought. BACKGROUND AND EARLY YEARS Kant lived in the remote province where he was born for his entire life. His father, a saddler, was, according to Kant, a descendant of a Scottish immigrant, although scholars have found no basis for this claim; his mother, an uneducated German woman, was remarkable for her character and natural intelligence. Both parents were devoted followers of the Pietist branch of the Lutheran church, which taught that religion belongs to the inner life expressed in simplicity and obedience to moral law. The influence of their pastor made it possible for Kant—the fourth of nine children but the eldest surviving child—to obtain an education. At the age of eight Kant entered the Pietist school that his pastor directed. This was a Latin school, and it was presumably during the eight and a half years he was there that Kant acquired his lifelong love for the Latin classics, especially for the naturalistic poet Lucretius. In 1740 he enrolled in the University of Konigsberg as a theological student. But, although he attended courses in theology and even preached on a few occasions, he was principally attracted to mathematics and physics. Aided by a young professor who had studied Christian Wolff, a systematizer of rationalist philosophy, and who was also an enthusiast for the science of Sir Isaac Newton, Kant began reading the work of the English physicist and, in 1744, started his first book, Gedanken von der wahren Schatzung der lebendigen Krafte (1746; Thoughts on the True Estimation of Living Forces), dealing with a problem concerning kinetic forces. Though by that time he had decided to pursue an academic career, the death of his father in 1746 and his failure to obtain the post of undertutor in one of the schools attached to the university compelled him to withdraw and seek a means of supporting himself. Tutor and Privatdozent He found employment as a family tutor and, during the nine years that he gave to it, worked for three different families. With them he was introduced to the influential society of the city, acquired social grace, and made his farthest travels from his native city—some 60 miles (96 km) away to the town of Arnsdorf. In 1755, aided by the kindness of a friend, he was able to complete his degree at the university and take up the position of Privatdozent, or lecturer. Period of the three Critiques In 1781 the Kritik der reinen Vernunft (spelled Critik in the first edition; Critique of Pure Reason) was published, followed for the next nine years by great and original works that in a short time brought a revolution in philosophical thought and established the new direction in which it was to go in the years to come. The Critique of Pure Reason The Critique of Pure Reason was the result of some 10 years of thinking and meditation. Yet, even so, Kant published the first edition only reluctantly after many postponements; although convinced of the truth of its doctrine, he was uncertain and doubtful about its exposition. His misgivings proved well founded, and Kant complained that interpreters and critics of the work were badly misunderstanding it. To correct these wrong interpretations of his thought, he wrote the Prolegomena zu einer jeden kunftigen Metaphysik die als Wissenschaft wird auftreten konnen (1783; Prolegomena to Any Future Metaphysics That Will be Able to Come Forward as Science) and brought out a second and revised edition of the first Critique in 1787. Controversy still continues regarding the merits of the two editions: readers with a preference for an idealistic interpretation usually prefer the first edition, whereas those with a realistic view adhere to the second. But with regard to difficulty and ease of reading and understanding, it is generally agreed that there is little to choose between them. Anyone on first opening either book finds it overwhelmingly difficult and impenetrably obscure. The Critique of Practical Reason Because of his insistence on the need for an empirical component in knowledge and his antipathy to speculative metaphysics, Kant is sometimes presented as a positivist before his time, and his attack upon metaphysics was held by many in his own day to bring both religion and morality down with it. Such, however, was certainly far from Kant’s intention. Not only did he propose to put metaphysics â€Å"on the sure path of science,† he was prepared also to say that he â€Å"inevitably† believed in the existence of God and in a future life. It is also true that his original conception of his critical philosophy anticipated the preparation of a critique of moral philosophy. The Kritik der praktischen Vernunft (1788, spelled Critik and practischen; Critique of Practical Reason), the result of this intention, is the standard sourcebook for his ethical doctrines. The earlier Grundlegung zur Metaphysik der Sitten (1785; Groundwork of the Metaphysics of Morals) is a shorter and, despite its title, more readily comprehensible treatment of the same general topic. Both differ from Die Metaphysik der Sitten (1797; The Metaphysics of Morals) in that they deal with pure ethics and try to elucidate basic principles; the later work, in contrast, is concerned with applying these principles in the concrete, a process that involved the consideration of virtues and vices and the foundations of law and politics. The Critique of Judgment The Kritik der Urteilskraft (1790, spelled Critik; Critique of Judgment)—one of the most original and instructive of all of Kant’s writings—was not foreseen in his original conception of the critical philosophy. Thus it is perhaps best regarded as a series of appendixes to the other two Critiques. The work falls into two main parts, called respectively Critique of Aesthetic Judgment and Critique of Teleological Judgment. In the first of these, after an introduction in which he discussed â€Å"logical purposiveness,† he analyzed the notion of â€Å"aesthetic purposiveness† in judgments that ascribe beauty to something. Such a judgment, according to him, unlike a mere expression of taste, lays claim to general validity, yet it cannot be said to be cognitive because it rests on feeling, not on argument. The explanation lies in the fact that, when a person contemplates an object and finds it beautiful, there is a certain harmony between his imagination and his understanding, of which he is aware from the immediate delight that he takes in the object. Imagination grasps the object and yet is not restricted to any definite concept, whereas a person imputes the delight that he feels to others because it springs from the free play of his cognitive faculties, which are the same in all humans. LAST YEARS The critical philosophy was soon being taught in every important German-speaking university, and young men flocked to Konigsberg as a shrine of philosophy. In some cases the Prussian government even undertook the expense of their support. Kant came to be consulted as an oracle on all kinds of questions, including such subjects as the lawfulness of vaccination. Such homage did not interrupt Kant’s regular habits. Scarcely five feet tall, with a deformed chest, and suffering from weak health, he maintained throughout his life a severe regimen. It was arranged with such regularity that people set their clocks according to his daily walk along the street named for him, â€Å"The Philosopher’s Walk. † Until old age prevented him, he is said to have missed this regular appearance only on the occasion when Rousseau’s Emile so engrossed him that for several days he stayed at home. From 1790 Kant’s health began to decline seriously. He still had many literary projects but found it impossible to write more than a few hours a day. The writings that he then completed consist partly of an elaboration of subjects not previously treated in any detail, partly of replies to criticisms and to the clarification of misunderstandings. With the publication in 1793 of his work Die Religion innerhalb der Grenzen der blossen Vernunft (Religion Within the Limits of Reason Alone), Kant became involved in a dispute with Prussian authorities on the right to express religious opinions. The book was found to be altogether too rationalistic for orthodox taste. He was charged with misusing his philosophy to the â€Å"distortion and depreciation of many leading and fundamental doctrines of sacred Scripture and Christianity† and was required by the government not to lecture or write anything further on religious subjects. Kant agreed but privately interpreted the ban as a personal promise to the king, Frederick William II, from which he felt himself to be released on the latter’s death in 1797. At any rate, he returned to the forbidden subject in his last major essay, â€Å"Der Streit der Fakultaten† (1798; â€Å"The Conflict of the Faculties†). In 1797 Kant published Die Metaphysik der Sitten (The Metaphysics of Morals), comprising Metaphysische Anfangsgrunde der Rechtslehre (The Philosophy of Law) and Metaphysische Anfangsgrunde der Tugendlehre (The Doctrine of Virtue). The former was the major statement of his political philosophy, which he also discussed in Zum ewigen Frieden (1795; Project for a Perpetual Peace) and in the essay â€Å"Uber den Gemeinspruch: Das mag in der Theorie richtig sein, taugt aber nicht fur die Praxis† (1793; â€Å"On the Old Saw: That May Be Right In Theory, But It Won’t Work in Practice†). The large work at which he laboured until his death—the fragments of which fill the two final volumes of the great Berlin edition of his works—was evidently intended to be a major contribution to his critical philosophy. What remains, however, is not so much an unfinished work as a series of notes for a work that was never written. Known as the Opus postumum, its original title was Ubergang von den metaphysische Anfangsgrunde der Naturwissenschaft zur Physik (â€Å"Transition from the Metaphysical Foundations of Natural Science to Physics†). It may have been Kant’s intention in this work to carry further the argument advanced in the Metaphysische Anfangsgrunde der Naturwissenschaft (1786; Metaphysical Foundations of Natural Science) by showing that it is possible to construct a priori not merely the general outline of a science of nature but a good many of its details as well. But judging from the extant fragments, however numerous they are, it remains conjectural whether its completion would have constituted a major addition to his philosophy and its reputation. After a gradual decline that was painful to his friends as well as to himself, Kant died in Konigsberg on February 12, 1804. His last words were â€Å"Es ist gut† (â€Å"It is good†). His tomb in the cathedral was inscribed with the words (in German) â€Å"The starry heavens above me and the moral law within me,† the two things that he declared in the conclusion of the second Critique â€Å"fill the mind with ever new and increasing admiration and awe, the oftener and the more steadily we reflect on. † IMMANUEL KANT Prepared by: Cherry B. Ordonez Alliona Gem S. Tolentino N- 201.

Saturday, October 26, 2019

Dating: Bars, Clubs, And Personal Advertisements :: essays research papers

Dating: Bars, Clubs, and Personal Advertisements Single adults partake of many activities to seek dates and find mates. Many use advertisements in local newspapers to attract possible candidates for a relationship. Others go to single's clubs and bars to find their potential soul mate. The type of activities people choose are dependent on the person's self- esteem and self-confidence. The information for this research was obtained from the article â€Å"Self Esteem of Persons Seeking Dates Via Bars, Singles Clubs, and Personal Advertisements.† The article was written by Paul Yelsma and Paul L. Wienir. It appears in â€Å"Sociological Spectrum† for January - March 1996.   Ã‚  Ã‚  Ã‚  Ã‚  The research method used in this article was a questionnaire. These questionnaires were sent to people who advertised in the local paper. Single's club participants were presented questionnaires and asked to complete them at one of the two clubs in the same geographic region. Those who attended bars were either contacted directly or given questionnaires. The questionnaires were completed by 152 subjects: 40 from ads; 62 attended singles clubs, and 50 frequented bars. (Yelsma and Weinir, p. 35)   Ã‚  Ã‚  Ã‚  Ã‚  What effect does self esteem have in a person's decision on what type of method to use to find their possible companion? It is shown that people with lower self-esteems tend to choose personal advertisements, while people with higher self esteems tend to lean towards the bar scene. Others with a mediocre self-esteem seem to go towards the clubs scene. According to Josephs, Larrick, Steele, and Nisbett, (1992, p. 27) â€Å"The higher one's self esteem, the less one has to fear from threats to the self, and individuals with higher levels of self-esteem should be less affected by the threats to the self.† This means that the higher ones self esteem is, the more they will not be afraid to show themselves in public. Those with the low self-esteems, will hide behind the words of a personal advertisement, while those with higher self-esteems will be open enough to attempt to meet people on a personal basis.   Ã‚  Ã‚  Ã‚  Ã‚  One of the reasons people are reluctant to use personal ads are because of their odd beginnings. In the early days of personal ads, they were used by those seeking homosexual relationships, and for â€Å"immoral actions.† However, since then, the have become much popular. People from all walks of life use personal ads to attract others with similar likes and dislikes. In a personal advertisement, the person making the ad gets the advantage of never actually meeting the person before first contact. This allows them to have a veil of secrecy around them. For those with low self-esteem, this allows them to hide

Thursday, October 24, 2019

I Have Created My Own Walden Pond :: essays research papers

I Have Created My Own Walden Pond Thoreau believed in â€Å"Living deep and sucking all the marrow out of life,† and so he lived on Walden Pond for two years to see how he could simplify in order to live to the fullest. I have created my own â€Å"Walden,† a place I could retire in order to escape the materialism of my society. The place that I created to go where there is no materialism and I can be myself and be who I want to be is a place that’s far away deep in the woods. This place is a place that anything is possible. All around you, you see nothing but flowers and animals, beautiful green grass and my own little cottage to spend my days in. Out there I don’t need to hassle with having to pay bills or having to find a job. All I need to do is sit back and relax. I like to fish for food, but I only catch what I can eat, because I don’t want my game to go scarce. I sometimes hunt for my dinner and look for food on the ground like pinecones, or bushes of berries. Out in the forest nobody has to worry about materialism they only have to be themselves. I chose this place because I love the forest and I love animals. I don’t want to put up any fuss about doing anything that I don’t want to do. I can enjoy living out there in the wilderness only listening to nature and the things that surround me. I bath in a river that flows fresh water in everyday. I am happy that I have pets because if I didn’t then I would be lonely all the time and I would have nobody to share my secrets with.   Ã‚  Ã‚  Ã‚  Ã‚  My dwelling is not much, but it suits my needs, and out there I don’t need much. All I have is a chair to read in, a toilet under the tree outside, and a bed. I only have the necessities that I need to live. I build a fire every night for warmth and to cook my food. My house is just a cabin that can only fit me and my dog skip just the way that I want it. Flowers that make it look pretty and interesting surround my cabin. It’s something that’s cozy and something that I can just go to and think and be by myself and never have to worry about anybody or anything but my pets and myself. I Have Created My Own Walden Pond :: essays research papers I Have Created My Own Walden Pond Thoreau believed in â€Å"Living deep and sucking all the marrow out of life,† and so he lived on Walden Pond for two years to see how he could simplify in order to live to the fullest. I have created my own â€Å"Walden,† a place I could retire in order to escape the materialism of my society. The place that I created to go where there is no materialism and I can be myself and be who I want to be is a place that’s far away deep in the woods. This place is a place that anything is possible. All around you, you see nothing but flowers and animals, beautiful green grass and my own little cottage to spend my days in. Out there I don’t need to hassle with having to pay bills or having to find a job. All I need to do is sit back and relax. I like to fish for food, but I only catch what I can eat, because I don’t want my game to go scarce. I sometimes hunt for my dinner and look for food on the ground like pinecones, or bushes of berries. Out in the forest nobody has to worry about materialism they only have to be themselves. I chose this place because I love the forest and I love animals. I don’t want to put up any fuss about doing anything that I don’t want to do. I can enjoy living out there in the wilderness only listening to nature and the things that surround me. I bath in a river that flows fresh water in everyday. I am happy that I have pets because if I didn’t then I would be lonely all the time and I would have nobody to share my secrets with.   Ã‚  Ã‚  Ã‚  Ã‚  My dwelling is not much, but it suits my needs, and out there I don’t need much. All I have is a chair to read in, a toilet under the tree outside, and a bed. I only have the necessities that I need to live. I build a fire every night for warmth and to cook my food. My house is just a cabin that can only fit me and my dog skip just the way that I want it. Flowers that make it look pretty and interesting surround my cabin. It’s something that’s cozy and something that I can just go to and think and be by myself and never have to worry about anybody or anything but my pets and myself.

Wednesday, October 23, 2019

Understanding The Principles Of Developing Postive Relationships

1. 1:1 Why effective communication is importantWe are more likely to communicate information to one another if we have positive relationships. Parents and other adults who come into the school are more likely to give beneficial support if communication is strong and effective – this, in turn, benefits pupils. It is also important for pupils that we model effective communication skills. This means checking what we are saying sometimes in moments of stress or excitement, so that they can understand what our expectations are in school.If we ask pupils to behave in a particular way when communicating and then forget to do so ourselves, they will find it harder to understand the boundaries of what is acceptable. Effective communication and positive relationships do not happen by chance. You should think about the way you relate to others and the messages that this sends out. In situations where communication breaks down, misunderstandings can lead to bad feeling.1. 1:2 The principl es of relationship buildingThe principles of relationship building with children  and adults in any context are that if others are comfortable in our company, they will be more likely to communicate effectively. Where people do not get along or are suspicious of one another, they are likely to avoid one another wherever possible. Positive relationships are not something which should be left_ to chance and it is important to consider the ways in which we can develop them. We build relationships with others in school on a daily basis in a number of different ways.Although you may do some of these without necessarily thinking  about it, it is worth taking time to consider whether you do all of the following. ? Effective communication – this is the key area for developing relationships with others and also covers many different forms of communication (see below). ? Showing respect – in order to develop positive relationships with others, it is very important to be cour teous and respectful, and to listen to their points of view. Adults and pupils with whom you work may also be from different cultures and have different beliefs or values from your own.You  should ensure that you acknowledge and respect the views of others at all times and take time to remember names and preferred forms of address. ? Being considerate – take the time to consider the positions of others. You may be working with a child or adult who is under particular pressure at a given time and need to understand why they may have behaved or reacted in a certain way or out of character. ? Remembering issues which are personal to them – it will always help to build positive relationships if you enquire a_er particular aspects  of another person’s life – for example, if you know that a colleague is concerned about their child getting into a particular secondary school, or if you are aware that it is a child’s birthday. ?Taking time to listen to others – make sure that you take time to listen to other people, in particular if they are asking for advice or help, or if they need to confide in you. You should always show that you are interested in what they have to say and respond appropriately. ? Being clear on key points – when you have conversations with others in which you are giving  them information, you should always ensure that they are clear what you have said at the end of the discussion. This is because it can be easy to be distracted from the main point of the conversation. When talking to children, always ask them to repeat back to you what they need to do. ? Maintaining a sense of humour – although the nature of our work in school is important, we should also sometimes take time to see the funny side of different situations. Laughter can be a good icebreaker and is also a great way of relaxing and relieving stress.

Tuesday, October 22, 2019

Reflexive Spanish Verbs With an Indirect Object

Reflexive Spanish Verbs With an Indirect Object Spanish often uses reflexive verbs  in a way that seems unfamiliar to English speakers. And they can seem downright indecipherable at when they are in sentences include two object pronouns of a single verb, a phenomenon that is unheard of in everyday English unless those pronouns are connected by and or or. Here are three examples of sentences that include two object pronouns that have different grammatical functions (that is, that arent joined by a conjunction such as y or o). Translations given arent the only ones possible; alternatives are explained below.) Se me rompià ³ la taza. (The objects are se and me. My cup got broken.) ¿Se te olvidà ³ el tomate? (The object pronouns are te and me. Did you forget the tomato?)La espiritualidad es algo que se nos despierta en cierto momento de nuestra vida. (The object pronouns are se and te. Spirituality is something that awakens for us at a certain time of our lives.) Why Two Objects Are Used You may have noticed that the three translations above took different approaches- but that none of the translations are literal, word-for-word ones, which wouldnt make sense. The key to understanding these sentences grammatically is to remember that the se in each of these cases is part of a reflexive verb, and that the other pronoun is an indirect object, one that tells who is affected by a verbs action. Basically, a reflexive construction is one in which the subject of a verb acts on itself. An example in English would be I see myself (Me veo in Spanish), where the person speaking is both seeing and being seen. In Spanish, however, it is possible to think of a verb acting on itself even when we dont translate it that way in English. This can be seen in the first example, where the most common definition of romper is to break. So we can think of romperse (romper plus the reflexive pronoun se) as meaning to break itself, (The translation to be broken might also be used.) The other pronoun, in this case me, tells us is affected by that breaking. In English, we might translate the indirect object me as me, to me, or for me. So a fully literal meaning of the sentence might be something like The cup broken itself to me. Obviously that doesnt make much sense. So how do we translate such a sentence. Normally, if a cup breaks and it affects me, its probably my cup, so we could say My cup broke or My cup got broken. And even I broken the cup would be fine if that fit the context of what happened. The other sentences can be analyzed in the same way. In the second example, olvidarse typically means to be forgotten rather than the literal to forget itself. And if the forgetting of the tomato affects you, you are probably the person who lost it, and the the translation given. And in the third example, despertarse usually means to wake up or to awaken. Without the nos in the sentence, we could could think merely of spirituality waking up. The for us is used to clearly indicate who is a beneficiary of the verbs action, although awakens us could be used. Note how in all these sentences, the se is placed before other pronoun. Se should not be placed between a verb and any other object pronoun. Other Sample Sentences You can see how this pattern is followed with the other sentences. Again, the translations given arent the only ones possible: Estoy agradecido no se me ocurrià ³ antes. (Im grateful it didnt happen to me sooner.) ¡El cielo se nos cae encima! (The sky is falling on us!)Pedid y se os dar. (Ask and it will be given to you.)Que se te moje el telà ©fono mà ³vil es una de las peores cosas que puede pasar. (Getting your cellphone wet is one of the worst things that can happen to you.) Key Takeaways The reflexive pronoun se can be used along with indirect object pronouns that indicate who is affected by the action of the reflexive verb.Se is placed before the indirect object pronoun.Sentences using se and an indirect pronoun can be translated in at least three different ways.

Monday, October 21, 2019

Problems of Inequality and Poverty in Finance The WritePass Journal

Problems of Inequality and Poverty in Finance Abstract Problems of Inequality and Poverty in Finance AbstractIntroductionThe Impact of Financial Development on Income InequalityThe Use of Microfinance for Poverty AlleviationConclusionReferencesRelated Abstract Inequality and poverty are realities for the majority of developing economies around the world. Intuitively, financial development leading to economic growth should have a positive relationship between the reduction of income inequality (and therefore social inequality) and poverty eradication. Successful regulation of the financial sector leading the economic and political stability will have the effect of increasing access to capital through increased foreign direct investment. In this way FDI can be used to improve access to microfinance which has been identified by the UNDP and developing countries as a primary strategy to poverty eradication as a long-term goal. Introduction Literature on poverty alleviation notes that levels of poverty can be decomposed in two distinct ways. The first is through rapid economic growth and the second is though a change in the distribution of income in that economy (Bourguignon, 2004). This literature acknowledges the inherent link between poverty alleviation, economic growth and income redistribution. In terms of statistical representation, Besley and Burgess (2003) prove that in order for alleviation of poverty to occur, developing countries need to effect an annual growth of 3.8% in the Gross Domestic Product (GDP) in order to half poverty in the next decade which is currently less than half the average growth recorded in recent decades. Therefore although financial development has been shown to produce faster rates of economic growth, literature still remains largely unconvinced of the link between financial development and poverty alleviation (Beck et al., 2004). It goes without saying that income inequality perpetuat es social inequality by affording lower-income groups limited access to necessities, commodities, health and education which in turn creates a recurring cycle of poverty and inequality in itself. This paper therefore aims to explore the link between financial development and inequality in poverty alleviation with a particular focus on developing countries in Africa. The central hypothesis of this paper asserts that if there is a positive relationship between financial development and the reduction of income inequality, financial development can be used as a means of alleviating poverty in developing countries. The Impact of Financial Development on Income Inequality The impact of financial development on the reduction of income inequality is not settled in current research outcomes, with certain models implying that development enhances opportunities for growth and reduces inequality. However, that this reduction is hampered by imperfections in the financial markets with factors such as credit restraints impeding the flow of capital to poorer individuals and communities, therefore enforcing inequality in income and intensifying the wealth disparity in these developing economies (Beck et al., 2004). According to these models, financial development plays the role of reducing these credit restraints and therefore improving the availability of capital for redistribution in lower-income groups and thereby accelerating growth. Contrary to these models however, Haber et al. (2003) note that in low-income countries, poorer members of society remain in rural areas and therefore rely on access to capital through family connections and as a result, financial development will only result in assisting the high-income end of the spectrum. Overall therefore, this may have a negative impact on income inequality. Evidence from developed economies suggest a nonlinear approach to financial development which asserts that at higher levels of economic development, there is increasing wealth available to a larger percentage of the population which may have the effect of offsetting this negative impact (Greenwood Jovanovic, 1990). The problematic element of this nonlinear model is that reaching higher levels of economic development may take substantial economic growth over a long-period of time, which does little to address immediate concerns of income inequality. Indicators of financial development include the improvement of information and transactions costs, and the availability and distribution of capital. For developing countries, which often experience a lack of availability of credit, there is a larger reliance on foreign direct investment and private credit institutions to provide capital. In these regions there is a large reliance on micro-finance institutions (MFIs) to improve the access to capital for low-income groups. Case studies in developing countries have proven that access to microfinance has a positive impact on poverty alleviation and income inequalities (Meagher, 2002). Practice however has shown that MFI access is in itself problematic as it requires strict regulation of the financial services industry in that country in order to ensure both consumer and investor protection (Omino, 2005). The success of MFIs in providing access to capital relies heavily on a coherent strategy by the government of the country through the c entral banking institution or primary financial regulation authority. The Use of Microfinance for Poverty Alleviation One could argue that the use of microfinance as a means of poverty reduction and income redistribution is a moot point, as it has been popularly acknowledged as a primary long-term strategy for the eradication of poverty. The United Nations Development Programme prioritized microfinance as part of their broader international agenda as a measure of poverty alleviation (UNDP, 1997). As part of this international mandate, the UNDP provided avenues where commercial financial institutions could gain funding from the UNDP as a means of providing microfinance to low-income families with comparatively lower repayment demands and in doing so, catering for the social economic burdens carried by the nationals of the countries involved (UNDP, 2004). This agenda is one that has been adopted by financial regulation authorities in developing countries. The Central Bank of Liberia, for example has adopted a new regulatory framework which provides a unified approach to regulation of the financial sec tor with a specific focus on MFIs, acknowledge the mandate of the UNDP to make use of these institutions for wealth redistribution and poverty eradication (Central Bank of Liberia, 2009), which was a goal specifically supported by the United Nations Capital Development Fund (UNCDP, 2008). The support for these forms of financing institutions is not specific to Liberia with the UNDP and UNCDP offering similar support to other developing countries around the world, with a specific focus on improving financial development through effective regulation in the sector. The rationale behind the use of MFIs as a primary means of poverty reduction lies in the access that it gives to lower income groups to encourage small business. This acts as a grassroots approach to wealth redistribution and therefore the use of MFIs has been identified as a primary method of poverty alleviation in developing countries, such as Liberia (Central Bank of Liberia, 2005). Financial development through the use of non-traditional means of providing access to credit for lower-income groups requires unified regulation of the banking sector in developing countries. This necessitates a hierarchical approach to regulation which effectively regulates the relationship between the national financial policy of the country, macroeconomic financial institutions and MFIs. The effect of consistent regulation in this way has the effect of stabilizing the economy of the country, as an unstable economic environment generates inflation which has a proven effect on microenterprise that is more severe than established, wealthier companies or corporations (Franks, 2000). Therefore ensuring a stable economic environment is essential to continued wealth redistribution and ultimately poverty alleviation. A case study of the Philippines further showed that the investment in poverty alleviation in this way enhanced the economic and political resources of the average household and as a result had a positive effect on social capital and cooperation through the encouragement of production and industry (Quinones Siebel, 2000). This in turn had a positive effect on the political stability in this region which further encourages foreign direct investment (FDI) in the economy of the country. The knock-on effect of FDI in developing countries is self-explanatory with a positive result on economic growth and greater access to capital. An unfortunate reality however faces many African nations which represents the converse situation, where many years of poor financial management have led to inherent corruption within the system and in order to make use of the available support offered by the UNDP and UNCDP, these countries require a significant financial overhaul which is low on the priority lis t for many countries. This is particularly true of developing countries that have suffered the effects of oil wealth, which has had a negative overall effect on economic growth despite an abundance of natural resources which has compounded wealth disparity and poverty (Mahdavy, 1970). Conclusion The evidence presented in this paper shows that there are a number of factors required for financial development to positively contribute to a reduction of income inequality (and therefore social inequality) and poverty eradication. The most important factor is effective and unified regulation of the financial sector of the country, which will have the effect of stabilizing the economy and therefore stabilizing interest rates, but also in the stabilization of the political climate in the country. Theoretically, this positions these economies favorably in terms of FDI which will have the effect of increasing the amount of capital available for redistribution. By redistributing wealth at a lower-income level, the nonlinear financial effects of economic growth can be expedited with a realistic alternative to gradual wealth distribution in favour of bottom-up wealth creation.   In this way, financial development tackles the problem of wealth disparity and the associated poverty levels from a top-down and bottom-up approach which can reasonably be expected to increase the rate of economic growth, and doing so in a manner that does not rely on singular capital redistribution that may be plagued by imperfections in financial markets. In this way, financial development can be used as a means of alleviating income inequalities and poverty levels in developing countries. References Beck, T., Demirguc-Kunt, A. Levine, R. (2004) Finance, Inequality and Poverty: Cross Country Evidence. NBER Working Paper Series, Working Paper 10979 Besley, T. Burgess, R. (2003) Halving Global Poverty. Journal of Economic Perspectives, 17, pp. 3-22. Bourguignon, F. (2004) The Poverty-Growth-Inequality Triangle. World Bank mimeo. Central Bank of Liberia (2005) Integrating Financial Services into Poverty Reduction Strategies: Institutional Experience of Liberia West-African Regional Workshop, Monrovia: CBL Central Bank of Liberia (2009) Microfinance Policy and Regulatory Supervisory Framework for Liberia Monrovia: CBL Franks, J. (2000) Macroeconomic Stabilization and the Microentrepreneur. Journal of Microfinance, 2, pp. 69-91 Greenwood, J. Jovanovic, B. (1990) Financial Development, Growth, and the Distribution of Income, Journal of Political Economy, 98, pp. 1076-1107 Haber, S., Razo, A. Maurer, N. (2003) The Politics of Property Rights: Political Instability, Credible Commitments, and Economic Growth in Mexico. Cambridge University Press. Mahdavy, H. (1970) ‘The Patterns and Problems of Economic Development in Rentier States: The Case of Iran’ In Studies in the Economic History of the Middle East, ed. M. A. Cook. London: Oxford University Press Meagher, P. (2002) Microfinance Regulation in Developing Countries: A Comparative Review of Current Practice Maryland: IRIS Centre Omino, F. (2005) Regulation and Supervision of Microfinance Institutions in Kenya.   Essays on Regulation and Supervision, Central Bank of Kenya, No. 5 Quinones, B., Seibel, H. (2000) Social capital in microfinance: Case studies in the Philippines.   Policy Sciences, 33, pp. 421-433 United Nations Development Programme (1997) Microstart Programme Geneva: UNDP

Sunday, October 20, 2019

3 Steps to Acing Your Upcoming Group Interview

3 Steps to Acing Your Upcoming Group Interview You’ve been asked in for a panel interview. Maybe you’re intimidated. Maybe terrified. Maybe you’re not even sure you know what that actually entails. Whatever your level of trepidation, here are three easy steps to getting through your panel interview calmly and in one piece. Step 1: BEFOREYou have the right to ask who will be on your panel. Do this. Then research each panel member to the best of your ability. You’ll be able to figure out quite a bit and prepare better for what each might be most keen to ask you. What does this particular group of people tell you about what the company is trying to assess?You can also ask how long (roughly) the interview should last. This will give you a good feeling for how much back-and-forth discussion will be possible, how much space you’ll be given to ask questions, how long your answers can be, etc.Step 2: DURINGTreat each person on the panel like a person- not just another nameless face. This is not an imper sonal wall asking you questions. Each interviewer on your panel is another opportunity to make a human connection and convince that many more people in the company what a great fit you would be.Be sure to take note of everybody’s name as they are introduced. Write each one down if that helps you remember. When answering questions, speak directly to the individual who asked, but then try and broaden your answer out to make the rest of the panel feel included in the discussion.Step 3: AFTERYou’ve learned their names and made an effort to connect with each panel member- now thank each one of them sincerely with  solid eye contact and a quality handshake. After that, it’s the usual post-interview follow-up procedure. But remember that you need to write one thank you note for each panel member. It seems like a pain, but it’s these little touches that will help set you apart.The panel interview: 6 tips for before, during, and after

Saturday, October 19, 2019

Final Projects - PSY 2012 Essay Example | Topics and Well Written Essays - 750 words

Final Projects - PSY 2012 - Essay Example She is enrolled by her guidance counselor in an alternative educational program where Ms. Rain (Paula Patton), her literacy teacher, takes a special interest in Precious, as does Mrs. Weiss (Mariah Carey), her social worker. The film chronicles Precious' evolution from an obviously dissociative, uninvolved, inarticulate victim of domestic violence to an independent individual, able to communicate about herself and her life and hopeful about her own future prospects as well as those of her children. Precious stresses not only the critical need for intervention on behalf of victims of child sexual abuse, but also for continuing social and psychological support if interventions are to have any lasting positive effects. It is very difficult to say with any certainty just how many children in the US experience incestuous abuse due to extreme shame on the part of victims and the occult nature of the crime. Incest is usually defined as sexual contact between individuals too closely related to legally marry, but many critics have called that definition too broad, particularly where children are concerned. A more comprehensive definition says that â€Å"[Incest] is a violation of the child where he or she lives -- literally and metaphorically. A child molested by a stranger can run home for help and comfort. A victim of incest cannot." (Vanderbilt, 1992, p. 51) Though it is widely considered to be the most common form of child sexual abuse, it is also one of the most under-reported crimes against children. According to the Rape, Abuse & Incest National Network (RAINN) only 7% of children who were victims of substantiated sexual abuse reports were the victims of strangers (RAINN, 2009). It is estimated that up to 1/3 of all American children are sexually abused before they turn 18 (Bogorad, 1999). Sexual assault of children can be very difficult to detect because it occurs in private, and because perpetrators do not always leave any evidence of their attacks. Even in ca ses like that of Precious, who had two children and a sexually transmitted disease as evidence of the sexual abuse she endured at the hands of her father, most sexual abuse of children is not reported to police or dealt with in a criminal setting at all. The justice system is primarily involved in cases where children are attacked or abused by strangers, while poorly-equipped social service agencies handle intrafamilial violence. Although most social service workers are legally required to report cases of child abuse to the police, individuals who commit incest are unlikely to ever spend time in jail for their crimes, even if they do leave incontrovertible evidence of their crimes. Precious portrays incest and other forms of child abuse within the context of an extremely marginalized minority-- impoverished, urban African-Americans-- but in fact the sexual abuse of children is an act which spans socio-economic, racial and ethnic boundaries. Even the most severe abuse may occur in an y family regardless of race, color, creed or financial status. The statistics surrounding child sexual abuse are shocking and horrifying, particularly in light of the fact that most such abuse goes unreported and most perpetrators are never formally accused. Estimates of PTSD cases

Friday, October 18, 2019

Restoring Capital Punishment in the United Kingdom Essay

Restoring Capital Punishment in the United Kingdom - Essay Example In certain countries that retain capital punishment, the delay between the actual verdict given and the execution carried out could go for many years as the convicted person would be allowed to go through many tribunals although excessive delay can also lead to basic human rights violation3. Most prisoners appeal against the death sentence due to the survival instinct although such a struggle may itself be a basic human rights violation that would prohibit cruelty in any form4. The death row phenomenon as this is called could pressurize states to modify their procedures or even abandon capital punishment. Supporters of capital punishment argue that such form of punishment would deter crime and would be an appropriate punishment for murder. As Murray notes, a major justification for capital punishment is the perceived public support although the complexity of the death penalty may not be generally understood by most people5. Murray aimed to examine the stability of the attitudes on the fair application of the death penalty and what are the public opinions regarding the fairness and administration of capital punishment. The complexity of these attitudes was analyzed with a telephone survey and the results indicated instability in attitudes regarding the application of capital punishment although many seem to think that the application of the death penalty is not fair in many cases. Murray concluded his study by suggesting that, 'the justification for capital punishment may rest on oversimplified conceptions of attitudes toward the death penalty and its application'6.

Complementary and Alternative Medicine (CAM) - CAM Therapies Assignment - 2

Complementary and Alternative Medicine (CAM) - CAM Therapies - Assignment Example The authors of the article document the profiles of most likely candidates for complimentary alternative medicine (CAM). This paper uses the authors’ context to discuss the reasons why some people opt for CAM, the demographic that is most susceptible to CAM, and how the article has contributed to the study of CAM practices in terms of benefits and distractions of its modality. Individuals select complimentary alternative medicine (CAM) for three major reasons when compared to the traditional allopathic methods of healing. Primarily, individuals who do not go for checkups or attend conventional medical facilities for medical care develop a tendency to seek alternative medicine. For instance, the study depicts that about 19.3% of the population did not seek conventional medical care in a 12-month period. Another reason why some people prefer complimentary alternative medicine (CAM) to conventional medicine is that such individuals have more health problems. The study reveals that 14.7 million people with more health problems could not seek conventional care due to cost and non-cost factors. Perhaps such individuals think that contemporary alternative medicine is more convenient and affordable when compared to the conventional medicine. In as much as education and gender appeared to be the key predisposing factors, enabling factors such as insurance coverage and poverty status did not directly associate individuals to complimentary alternative medicine (CAM). Huge disparities exist in the demographics and profile of the individuals who are prone to complimentary alternative medicine. Approximately 19% of people who did not seek conventional care over the past one years of the study were highly likely to opt for complimentary alternative medicine (CAM). Of these, 38.4% had some health needs with others harboring acute cases. Primarily, 25% of the people who did not use conventional care sought complimentary alternative care. It implies that most of the

Thursday, October 17, 2019

UAE History Questions Assignment Example | Topics and Well Written Essays - 1250 words

UAE History Questions - Assignment Example The main business was fishing, pearl diving while agricultural sector was poor: only oasis zones allowed growing vegetables and date farms. Due to its comfortable location before Strait of Hormuz, Dubai was a trading point for Bedouins. This tribe society served for a basic model of social organization for pre-UAE population. The Prophet Muhammad wasn’t a prophet only but a warrior and influential political leader (including famous Taking of Mecca). His ambassadors were spreading the religion, and after Muhammad’s death at Dibba battle non-Muslims were defeated. Islam entrenched itself on Arabian Peninsula. 637 AC is another important date because then by conquering Julfar (later Ras al-Khaimah), an important port and a great point of trade during centuries, Islam started to spread on Iran. It was a period of a great sea traveling in 16th century when Portuguese expanded Indian Ocean, and reached Persian lands for the first time. Being more technologically developed nation, Portuguese dominated in the Persian Gulf about 150 years, and for that time step by step conquered a native population of Arabic Peninsula. The reason was a very important trade highway to India a great Portuguese traveler Vasco da Gama discovered when leading his ships to the Cape of Good Hope in 1498. The main product was very precious those days Asian spices. It was previously mentioned that Julfar was a wealthy port, and thus, Portuguese wanted to control the Arabian Gulf to control a trade market. Important is to mention that local Persians often participated Portuguese when conquering allowing conquerors to use their forts. Portuguese weren’t only Europeans interested in a sea trade, and soon in 16th century British came traveling along the Arabian Gulf. By that time, the Peninsula generally was under Ottoman Empire power, but some local tribes were really strong. Qawasim

Contrast and compare what the literature has to say on why, despite Essay

Contrast and compare what the literature has to say on why, despite the advance of globalization, business systems in the main i - Essay Example It is argued by him that all decisions about the route to be followed are not made within an organization rather state plays a potentially important role in deciding the character of any business system in addition to determining how the employers should behave and what strategic choices should they make in response to rising globalization when the need arises to not let their businesses grow in isolation from the global business trends. There is greater state involvement in determining a business’s character and the path it would follow. By developing a framework of analysis to examine business systems, Whitley explained at length â€Å"certain components of business systems and their interaction with institutions† (Tempel, 2001, p. 43). Whitley’s concept of national business systems has however been criticized often due to its weaknesses like portraying organizations as â€Å"passive pawns† which have little option but to comply (Scott, cited in Tempel, 2001, p. 42). Employment systems– national systems of training: With the help of extensive research and discussion regarding why it is that business systems in many developed nations continue to diverge, many factors are unveiled. While a market driven approach lays the foundation of employment systems in UK, fully developed vocational educational systems in France ensure high skill development and strict on-the-job training. Such pattern of allocating highly skilled workers even for the lowest jobs is not observed in UK. Germany, in contrast, practices the best system of economy wide vocational educational training. The rate of formal consultation is highest in European countries like Germany, Italy, and Sweden where employees are highly valued (Brewster and Larsen, 2000) in contrast to US or UK. As a result, there exists convergence of skills in contrast to polarization of skills as has been reported in UK business leading to â€Å"dead-end and low-skilled employment† (Crouch, 1997, p. 372). German business has advantaged hugely from VET system which demands continuous retraining and up-skilling (Crouch, 1997, p. 372). Clear difference exists in employment systems and HRM policies between CMEs (Germany, Italy, France etc.) and LMEs (US, UK etc.) (Boyer, 2005) which explains why business systems continue to diverge despite increase in globalization. Reportedly, there is greater polarization in US business systems â€Å"with the bottom 10% of the working population now being absolutely poorer than they were at the end of 1970s† (OECD, cited in Crouch, 1997, p. 370), but they also emphasize more on diversity management (Egan and Bendick, 2003). Japan, however, practices a blend of general education system of a US kind and VET system of a German kind and believes in ensuring diversity of opportunities â€Å"but within a more German context† (Crouch, 1997, p. 373). HRM: In contrast to LMEs (Liberal market economies) like US, UK, and Au stralia, business systems in German, Netherlands, and Swedish market economies show different approach to dealing with HRM. Germany and Scandinavia are CMEs (Coordinated market economies) where legislation value is maximized. CMEs emphasize more on employment regulation in which state plays a greater role than the stock market. All business systems in CME countries have stronger systems of employee voice and there is higher consultation between firms and employees (Farndale, Brewster, and Poutsma, 2008, p. 2008). Now in HRM terms, business systems operating under CMEs are

Wednesday, October 16, 2019

UAE History Questions Assignment Example | Topics and Well Written Essays - 1250 words

UAE History Questions - Assignment Example The main business was fishing, pearl diving while agricultural sector was poor: only oasis zones allowed growing vegetables and date farms. Due to its comfortable location before Strait of Hormuz, Dubai was a trading point for Bedouins. This tribe society served for a basic model of social organization for pre-UAE population. The Prophet Muhammad wasn’t a prophet only but a warrior and influential political leader (including famous Taking of Mecca). His ambassadors were spreading the religion, and after Muhammad’s death at Dibba battle non-Muslims were defeated. Islam entrenched itself on Arabian Peninsula. 637 AC is another important date because then by conquering Julfar (later Ras al-Khaimah), an important port and a great point of trade during centuries, Islam started to spread on Iran. It was a period of a great sea traveling in 16th century when Portuguese expanded Indian Ocean, and reached Persian lands for the first time. Being more technologically developed nation, Portuguese dominated in the Persian Gulf about 150 years, and for that time step by step conquered a native population of Arabic Peninsula. The reason was a very important trade highway to India a great Portuguese traveler Vasco da Gama discovered when leading his ships to the Cape of Good Hope in 1498. The main product was very precious those days Asian spices. It was previously mentioned that Julfar was a wealthy port, and thus, Portuguese wanted to control the Arabian Gulf to control a trade market. Important is to mention that local Persians often participated Portuguese when conquering allowing conquerors to use their forts. Portuguese weren’t only Europeans interested in a sea trade, and soon in 16th century British came traveling along the Arabian Gulf. By that time, the Peninsula generally was under Ottoman Empire power, but some local tribes were really strong. Qawasim

Tuesday, October 15, 2019

Management Strategy Assignment Example | Topics and Well Written Essays - 250 words

Management Strategy - Assignment Example Lynch (2003) asserts that resource based strategy of the firm uses unique knowledge base that is creatively applied on all tangible and intangible assets to above average return. Thus, various business processes, innovative products and services, human capital etc. become strong elements of RBC. Apple, Huawei, GM, Wal-Mart etc. are exemplary examples that have been able to maintain their market position through innovative products and services across the globe. Apple and Huawei have creatively evolved new features and techniques in mobile devices to suit the changing requirements of the new generation. The technology driven resource based strategy that exploits the information to give distinct differentiation to its products and gain leverage. GM has innovated green technologies to make its cars environment friendly. Wal-Mart, on other hand, has judiciously used I/O framework to enhance efficiency of its business processes. The information vis-Ã  -vis customers’ changing preferences are used both in new product develop and value addition as well as in logistics to give quality services to its customers and maintain its niche market

Memory Essay Example for Free

Memory Essay 1. What is primary memory? What are the characteristics of primary memory? It has long been noted that it is possible to hold some information in mind for a brief period of time. In the late 1950s, researchers began to think that such brief memories might be supported by the primary memory. The three characteristics of primary memory are: forgetting (caused by both interference and decay); the format in which the information is coded (in terms of sound, visual appearance, and meaning); and the amount of information that can be held, or capacity (which depends on the type of information). Much (but not all) of the forgetting from primary memory occurs due to interference. Proactive interference occurs when older learning interferes with new learning. In retroactive interference, later learning interferes with earlier learning.   It appears that material can be coded in primary memory in at least three ways: visuospatially, acoustically (in terms of sound), and semantically (in terms of meaning). There is also evidence for a primary memory component that can store tactile memories—that is, how things feel on the skin—but not much research has been directed toward that representation (Harris, Miniussi, Harris, Diamond, 2002; Romo Salinas, 2003). Around the turn of the 20th century, researchers began to use the digit span task to measure the capacity of primary memory. 2. What is the process of memory from perception to retrieval? What happens when the process is compromised? The perception of primary memory occurs in manifold ways. Much of it consists of our knowledge of what words mean, about the ways they are related to one another and the rules of communication and thinking. This kind of memory, which makes use of language possible, is semantic memory; while primary memory can also consist of episodic memory which is organized with respect to when certain events happened in our lives. It is a record of what happened to us and does not lend itself to drawing of inferences. The storing of primary memory occurs in various ways. One of them is organizing and arranging the input so that it fits into existing long-term memory categories, grouping in some logical memory, or arranging in some other way that makes â€Å"sense†. The organizational encoding may be inherent in the input itself or it may be supplied by individuals as they learn and remember new things. Imagery also plays an important role in storing of information into memory. One explanation for the importance of stimulus imagery in learning and storing information to memory, is that a concrete stimulus (one, for which, imagery is readily evoked in mind) provides a conceptual peg on which responses can be hung. During encoding, the to-be-remembered information, especially if it is a complex life event or something you have read, is modified. Certain details are accentuated, the material me be simplified; which is called constructive processes. One important constructive process is encoding only the gist or meaning of complex information such as what we have read in a newspaper, magazine, or book. 3. Is it possible for memory retrieval to be unreliable? Why or why not? What factors may affect the reliability of ones memory? Successful retrieval of a memory depends largely on the cues available at the time of retrieval. But sometimes, when cues will not help; the memory is simply lost. The idea that memories simply fade away with time corresponds to our everyday experience, but it is difficult to prove. It is more certain that new things you learn can interfere with things that you already know, thereby causing forgetting. The idea that memories simply fade away with time corresponds to our everyday experience, but it is difficult to prove. It is more certain that new things you learn can interfere with things that you already know, thereby causing forgetting. Forgetting can occur because (a) you don’t have the right cue for retrieval, (b) the association between the cue and the target memory is compromised in some way, or (c) the target memory itself is lost. There is some evidence supporting each mechanism. We briefly consider the possibility that some memories are never lost.

Monday, October 14, 2019

Consumer Reactions Towards Product Placement In Movies Media Essay

Consumer Reactions Towards Product Placement In Movies Media Essay A review of trade and popular press over the past few years quickly reveals the interest in and growth of the product placement industry. Product placement is one of todays hottest new media, and it is getting increasing attention from advertisers, media planners, and research firms attempting to assess its effectiveness and value. It is getting increasingly popular and rapidly becoming a serious marketing discipline worldwide. Most major movie releases today contain product placements. It is a multimillion-dollar business with every frame in a movie having an opportunity for branding. From cars and cell phones, to mouth fresheners and branded tea-our heroes and heroines are the ultimate consumers. According to the PQ Media Global Product Placement Forecast Series 2006-2010 Country-by-Country Analysis, global paid product placement grew 37.2 per cent to $3.36 billion in 2006 and is forecast to grow 30.3 per cent to $4.38 billion in 2007, with growth accelerating in China, India and Australia (What Every Global 2006). Meeta Vora Munshi, Faculty (Marketing), Som-Lalit Institute of Management Studies (SLIMS), Opposite St Xaviers College, Navrangpura, Ahmedabad à ¢-  Phone: 9825071663 à ¢-  email: [emailprotected] Dr Sarla Achuthan, Director, B K School of Business Management, Gujarat University, Ahmedabad à ¢-  Phone: 26304811. Product Placement In Movies Product placements have played a role in motion pictures for many decades and can be found in Hollywood movies dating from the late 1940s and early 1950s (The Economist 1991). Movie legend Joan Crawford drank Jack Daniels whiskey in the 1948 movie Mildred Pierce (Nebenzahl and Secunda, 1993). In the 1950 movie Destination Moon, four space travellers rocketed to the moon drinking Coke and wearing Lee jeans (Vollmers and Mizerski, 1994). And Bollywood is not far behind. The earliest reference of product placement in Hindi movies comes in the 1940 classic Chalti ka Naam Gadi with Coca Cola. In 1967 movie An Evening in Paris, Sharmila Tagore was seen sipping delicately from a 200 ml bottle of Coke, struggling to make sure the logo was visible. Rajdoot motorbike was seen in Bobby way back in 1973. A few more recent and popular examples of product placements in Bollywood are Strohs beer in Dilwale Dulhania Le Jayenge; ICICI Bank, Ford Ikon, Archies Cards, Tide detergent and Tata Tea in Baghban; and Times of India in Hum Tum. The practice of using branded props in movies started as a casual process. Branded items were simply donated, loaned, or purchased for particular movie scenes to enhance their artistic qualities (Spillman, 1989). But things changed with the 1982 movie ET-The Extraterrestrial, in which the alien creature was lured from its hiding place with Reeses Pieces candy. The Pieces candy sales increased by 65 per cent just 3 months after the movies release (Buss 1998, Farhi 1998, Reed 1989). It was since then that marketers began actively seeking their own product placements, fully understanding its commercial impact (Caro, 1996). LITERATURE REVIEW Several studies have investigated the attitudes and perceptions of viewers regarding the practice of product placement. These studies were efforts at determining whether moviegoers find the practice objectionable, given the stealth and deceptive nature of the product placement, as claimed by some consumer groups. Interestingly, these studies found that, in general, the majority of people in the United States dont object to the practice of product placement (Gupta and Gould, 1997; Nebenzahl and Secunda, 1993; Ong and Meri, 1994). Placements are seen as adding realism to scenes, are preferred to fictitious brands and are understood to be more and more a necessary component to cost containment in the making of programmes and movies (DeLorme and Reid, 1999; Gupta and Gould, 1997). Most consumers considered product placement as a less obtrusive form of marketing communication than other advertising forms in the movie theatre, even though some of them criticized product placement as a deceptive communication strategy (Nebenzahl and Secunda, 1993). Not many similar consumer studies in India were found, though a study carried out among students in India did find positive attitude towards product placement (Panda, 2004). RATIONALE OF THE STUDY Since the beginning of televised programming, advertisers in India have shelled out big bucks to promote their products on TV. The 30-second TV ad spot had been the sole reigning champion for a very long time, but no longer so today. Although the number of television channels has increased in the last decade from under 50 to over 200 today, the number of advertisers has grown much more rapidly (Surapaneni, 2006). Moreover, the bulk of advertising is limited to few popular TV channels. This has resulted in tremendous advertising clutter. Also, it has been noticed that TRPs of ad breaks have declined with channel zapping. And with marketers demanding more bang for their advertising buck, agencies were prompted to come up with innovative solutions. An association with Bollywood gives them an opportunity to look beyond the 30-second television commercial. For advertisers, the product placements provide clutter free noticeability (and possible sales!) from the huge number of Bollywood viewers in the captive atmosphere of theatres, on TV during film telecasts and at homes through DVD/VCDs. For filmmakers, the placement of appropriate brands in their films offers a legitimate and profitable source of revenue, over and above making the films more realistic. Obviously, its a win-win script for advertisers and filmmakers. The penetration and popularity of films in India can never be doubted. The Indian film industry is one of the largest in the world, producing 1041 films annually. And Bollywood, the Hindi film industry, commands a huge 40 per cent share of the Indian film market (Media and Entertainment, 2007). The output of Bollywood is phenomenal. In 2006, the $3.5 billion industry produced 152 films. With a growing international market, Bollywood ticket sales are close to $4 billion every year (Bollywood-A Foretaste, 2007). The trend of product placements in Bollywood is increasing and advertisers are expecting mileage from this means of communication. This justifies the need to study the viewers reactions towards this practice in general. It could be helpful to marketers using this means of communication in understanding their target consumers. RESEARCH OBJECTIVE The research objective of this study is to understand the viewers reactions towards the current practice of product placement in Bollywood. The main objective is translated into the following seven questions representing different aspects of viewers reactions: Do the product placements make the scene in a movie more realistic? Are the product placements a source of information about latest products? Should undue focus to place product be avoided? Do product placements cause irritation/distraction? Are product placements overused these days? Are product placements a means of money making for film makers? METHODOLOGY For this study a total of 121 respondents were surveyed in the city of Ahmedabad. The sampling method was convenient sampling, with care taken to include approximately equal number of respondents across demographic variables of gender and age. Considering persons below 16 years as children, only people of 16 or above were surveyed. Each respondents frequency of watching Hindi movies per month (irrespective of whether at home or theatre, on satellite TV or VCD/DVD) was also noted. The persons who mentioned watching less than 1 movie per month on an average were considered underexposed to the medium of movies and hence not included in the sample. The survey tool was a structured questionnaire consisting of a short initial description of the product placement practice to familiarize the respondents with the topic. The questionnaire was divided in two parts. In the first part, respondents were required to give personal details resulting in 3 variables, namely, gender, age and approximate frequency (of watching Hindi movies per month). The second part contained 7 items/statements which were based on product placements in general and not for any specific movie. These statements measured viewers reactions as per the questions discussed above. The variables generated by the second part of the questionnaire are as follows: Variables Questions REALISTIC makes the scene in a movie more realistic INFORMATION is a source of information about latest products SUBTLE should not be given undue focus in the scene DISTRACT causes irritation/distraction OVERUSED is overused these days MONEY is a means of money making for film makers BAN should be banned Thus a total of 10 variables, 3 based on personal details and 7 based on reactions were generated by the questionnaire. PRELIMINARY FINDINGS Out of a total of 121 respondents surveyed, 64 (ie, 53 per cent) were males and 57 (ie, 47 per cent) were females. Their age ranged from 16 years to 76 years. The approximate number of Hindi movies watched ranged from 1 movie per month to 30 movies per month. Charts indicating the profile of respondents based on personal detail variables are provided below. The response in terms of percentage of the respondents is summarized below. Variable Agree/Strongly agree Disagree/Strongly disagree Neutral REALISTIC 23% 48% 29% INFORMATION 71% 12% 17% SUBTLE 64% 18% 18% DISTRACT 21% 52% 27% OVERUSED 64% 12% 24% MONEY 85% 4% 11% BAN 21% 47% 32% A first hand glance at the above table shows that a huge 85 per cent of respondents thought product placements was a money making means for film makers and a large majority also thought placements were a good way of knowing about ongoing products. More than half of the respondents thought product placements were overused in movies these days and that they should be subtle and not overbearing. Close to half the respondents did not think scenes got more realistic with product placements. But again around half the respondents also thought product placements did not distract them and should not be banned. The process of deriving detailed results is underway. It is proposed to report difference in reactions of respondents across gender, age and movie watching habits as also correlations between the reaction variables using various statistical analysis tools of the SPSS package. CONCLUSION Though this study is limited only to Ahmedabad city and a limited sample size, the results may not be conclusive but indicative enough for marketers using this means of communication. From the preliminary results it can be said that people do have positive reactions towards the product placement practice if done subtly. So creativity and innovation can actually make this form of advertising quite paying.

Sunday, October 13, 2019

The Appease for more Lands and the Effects Essay -- English history, ba

The battle of Hastings of 1066 intertwined English history with that of Normandy and consequently with France. Once William of Normandy conquered England, the nature of medieval English state transformed drastically. In 1086, all land in England became a fief held by the â€Å"crown in return for service.† Norman presence under King William â€Å"diminished local particularism† by scattering and distributing land. Furthermore, as Hollister and Stacey indicate, Norman Conquest brought with it, its own form of feudalism distinct from its French counterpart— â€Å"more orderly and thoroughgoing†.† As a result, a tightening of the military occurred; fortresses could no longer be built without royal authority to prevent insurrections. In addition, other Norman elements such as the French language and culture manifested among the English elites, but in no way made their identity. William’s conquest did not eliminate Anglo-Saxon culture that preda ted him; instead, he adopted the Anglo-Saxon disposition and Carolingian forms of rulership, which continued under other Norman rulers of England. By the Norman Conquest, England had already become one of the most integrated and consolidated states in Europe with a highly structured system of royal administration, well-established laws, and a centralized economic system (with effective forms of taxation). At best, the Norman Conquest improved already existing political, economic and social structures. The battle of Hastings led to the switch in English monarchy and linked English fate to France for centuries to come both militarily and economically but it was not the making of England. Norman rulers from 1066 onward focused more on territorial expansion than developing the English identity as a showcase o... ...,† as transformations that occurred in England, legal, economic and ecclesiastical all emerged independent of France, mostly from internal pressure than outside push. As Hollister and Stacey illustrate, the distraction of England by its interaction with Franc is evident in the fact that â€Å"almost every English king since the Norman Conquest had campaigned against the French at one time or another.† While conquest and military expansion by the twelveth and thirteen century became a part of the English need to expand its empire it was not a necessary attribute to their â€Å"Englishness.† Bibliography: Halsall, Paul. â€Å"The Trial of Joan of Arc, 1431." New York: Fordham University, 1998. http://www.fordham.edu/halsall/source/1431joantrial.asp Hollister, C. Warren, Robert C. Stacy, and Robin Chapman Stacy. The making of England to 1399, 8th ed. Houghton Mifflin, 2001.

Saturday, October 12, 2019

Handmaids Tale Essay -- essays research papers

Does the women of Gilead know that they are being controlled?   Ã‚  Ã‚  Ã‚  Ã‚  Are the women of Gilead aware that they are being controlled by the society? In Margaret Atwood ¡Ã‚ ¯s The Handmaid ¡Ã‚ ¯s Tale, the theme of control is a very important factor of the book. In the story, at the Republic of Gilead, the women are being controlled by the society to do what the society wants them to do. The handmaids are brainwashed before they start working for the society. But since the brainwashing happens so naturally over a period of time, the handmaids don ¡Ã‚ ¯t fully realize that they have been brainwashed by the society to do what the society wants them to do.   Ã‚  Ã‚  Ã‚  Ã‚  The theme of control and being brainwashed could be found in many parts of books in many forms. For example, before the women became handmaids, they were at a institution where they get educated and influenced by the aunts on how they should live their lives. In the institution, the aunts treat the women like children.  ¡Ã‚ °But whose fault was it? Aunt Helena says, holding up on plump finger. ¡Ã‚ ±(93), aunts ask such questions, which leads the women to think the way the society wants them to think.  ¡Ã‚ °Her fault, her fault, her fault, we chant in unison. ¡Ã‚ ±(94), and the women repeats the answer out loud as a whole as if they were young kindergartners, and by doing so, they are being influenced and brainwashed. By treating them like children and making them repeat after what they say, they slowly ...

Friday, October 11, 2019

Humans, Omnivorous or Vegetarians

Some people are ‘meat lovers’ while others fiercely reject the idea of humans eating meat. Perceptions and love/hate for meat vary according to each ideological frame and culture. However, this informative essay will not address the perceptions and preferences that people might have. It depends on a scientific debate with those who think that prehistoric man was vegetarian in nature and therefore humans should not eat meat and those who think that humans have always been omnivorous which means that we can eat seeds, grains, plants, fruits, but also animals.Through this essay I will defend that it is normal and natural that humans eat meat, in contrast with the vegetarian’s arguments, however it is healthier if we do not eat great amounts of meat per week. An argument defending human as vegetarian is centered on the characteristics of the human body compared to carnivorous animals. It argues that because humans don’t have claws or pointed teeth we shouldnâ⠂¬â„¢t eat meat. However, I found that the digestive and dental system of homo sapiens serves as an example on omnivorous adjustment because the incisor teeth and canine are good to tear cooked meat into pieces, whereas the molars are needed to grind vegetable matter. Furthermore, vegetarians argue that carnivorous animals have smaller intestines than humans because raw meat needs to be defecated faster, so it won’t turn bad before it can be digested. However one argument to counter this position is that humans can’t be totally vegetarian either because plant material containing fiber and cellulose cannot be efficiently broken down by the enzymes our stomachs secrete and because humans have simple-chamber stomach while herbivores have multiple-chamber stomach. This reinforces the argument that humans are omnivorous because our bodies are not totally prepared for such big amounts of meat, like carnivorous animals, nor for all kinds of plants. Rather we should have a balanced meal. Another argument sustained by vegetarians is that the man came before the fire and therefore humans only ate fruits and vegetables. Further that human disguise the meat with culinary preparations because â€Å"we cannot tolerate raw meat†. However, I found out that It all depends on a matter of evolution and adaptability. If we go back thousands of hundreds years ago when humans where similar to chimpanzees, maybe the vegetarian argument is true: humans were vegetarian. But with the same logic as we started walking on two feet because it became a necessity, our body adapted to eat meat when frost came over and eliminated all plants and fruits. Therefore, humans evolved. Homo sapiens started using pointed weapons so claws fell to disuse, homo sapiens discovered fire and found out that it made the meat softer so our canines got smaller. Our molars got flatter because of the cooked-meat diet, as well as the infusion of fruits, nuts and veggies. Furthermore, the vegetarian argument that â€Å"everything that the human body needs can be found in natural vegetation†, does not mean that we are, in fact, vegetarian. Rather it means that if one person decides to be a vegetarian, he/she can survive without the proteins provided by meat. Therefore, being vegetarian is a personal decision, not a fact applying for everyone. One should decide consciously what type of food you want to eat, but bearing in mind that eating meat is not a bad thing for our body per se because our body is prepared to it, along with fruits and vegetables. Most uninformed vegetarians argue that meat is causing health issues, but the truth is that the today’s growing population is demanding great amounts of food focusing on quantity over quality. Many animals are been feed with steroids while fruits are been cultivated with chemical substances.

Thursday, October 10, 2019

Monopoly and olygopoly Essay

A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with amonopsony which relates to a single entity’s control of a market to purchase a good or service, and with oligopoly which consists of a few entities dominating an industry) Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods. The verb â€Å"monopolize† refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power, to charge high prices. Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market). A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service ; a monopoly may also have monopsony control of a sector of a market. Likewise, a monopoly should be distinguished from a cartel (a form of oligopoly), in which several providers act together to coordinate services, prices or sale of goods. Monopolies, monopsonies and oligopolies are all situations such that one or a few of the entities have market power and therefore interact with their customers (monopoly), suppliers (monopsony) and the other companies (oligopoly) in ways that leave market interactions distorted. When not coerced legally to do otherwise, monopolies typically maximize their profit by producing fewer goods and selling them at higher prices than would be the case for perfect competition Monopolies can be established by a government, form naturally, or form by integration. In economics, the idea of monopoly is important for the study of market structures, which directly concerns normative aspects of economic competition, and provides the basis for topics such asindustrial organization and economics of regulation. There are four basic types of market structures by traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly. A monopoly is a market structure in which a single supplier produces and sells a given product. If there is a single seller in a certain industry and there are not any close substitutes for the product, then the market structure is that of a â€Å"pure monopoly†. Sometimes, there are many sellers in an industry and/or there exist many close substitutes for the goods being produced, but nevertheless companies retain some market power. This is termed monopolistic competition, whereas by oligopoly the companies interact strategically. Characteristics †¢ Profit Maximizer: Maximizes profits. †¢ Price Maker: Decides the price of the good or product to be sold. †¢ High Barriers to Entry: Other sellers are unable to enter the market of the monopoly. †¢ Single seller: In a monopoly, there is one seller of the good that produces all the output. Therefore, the whole market is being served by a single company, and for practical purposes, the company is the same as the industry. †¢ Price Discrimination: A monopolist can change the price and quality of the product. He sells more quantities charging less price for the product in a very elastic market and sells less quantities charging high price in a less elastic market. Natural monopoly A natural monopoly is a company that experiences increasing returns to scale over the relevant range of output and relatively high fixed costs. A natural monopoly occurs where the average cost of production â€Å"declines throughout the relevant range of product demand†. The relevant range of product demand is where the average cost curve is below the demand curve. When this situation occurs, it is always cheaper for one large company to supply the market than multiple smaller companies; in fact, absent government intervention in such markets, will naturally evolve into a monopoly. An early market entrant that takes advantage of the cost structure and can expand rapidly can exclude smaller companies from entering and can drive or buy out other companies. A natural monopoly suffers from the same inefficiencies as any other monopoly. Left to its own devices, a profit-seeking natural monopoly will produce where marginal revenue equals marginal costs. Regulation of natural monopolies is problematic. Government-granted monopoly A government-granted monopoly (also called a â€Å"de jure monopoly†) is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or company to be the sole provider of a commodity; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement OLIGOPOLY An oligopoly is a market structure in which a few firms dominate. When a market is shared between a few firms, it is said to be highly concentrated. Although only a few firms dominate, it is possible that many small firms may also operate in the market. For example, major airlines like British Airways (BA) and Air Franceoperate their routes with only a few close competitors, but there are also many small airlines catering for the holidaymaker or offering specialist services. Concentration ratios. Oligopolies may be identified using concentration ratios, which measure the proportion of total market share controlled by a given number of firms. When there is a high concentration ratio in an industry, economiststend to identify the industry as an oligopoly. Characteristics †¢ Profit maximization conditions: An oligopoly maximizes profits by producing where marginal revenue equals marginal costs. †¢ Ability to set price: Oligopolies are price setters rather than price takers. †¢ Entry and exit: Barriers to entry are high. [3] The most important barriers are economies of scale, patents, access to expensive and complex technology, and strategic actions by incumbent firms designed to discourage or destroy nascent firms. Additional sources of barriers to entry often result from government regulation favoring existing firms making it difficult for new firms to enter the market. †¢ Number of firms: â€Å"Few† – a â€Å"handful† of sellers. [3] There are so few firms that the actions of one firm can influence the actions of the other firms. [5] †¢ Long run profits: Oligopolies can retain long run abnormal profits. High barriers of entry prevent sideline firms from entering market to capture excess profits. †¢ Product differentiation: Product may be homogeneous (steel) or differentiated (automobiles). †¢ Perfect knowledge: Assumptions about perfect knowledge vary but the knowledge of various economic factors can be generally described as selective. Oligopolies have perfect knowledge of their own cost and demand functions but their inter-firm information may be incomplete. Buyers have only imperfect knowledge as to price, cost and product quality. †¢ Interdependence: The distinctive feature of an oligopoly is interdependence. Oligopolies are typically composed of a few large firms. Each firm is so large that its actions affect market conditions. Therefore the competing firms will be aware of a firm’s market actions and will respond appropriately. This means that in contemplating a market action, a firm must take into consideration the possible reactions of all competing firms and the firm’s countermoves. It is very much like a game of chess or pool in which a player must anticipate a whole sequence of moves and countermoves in determining how to achieve his or her objectives. For example, an oligopoly considering a price reduction may wish to estimate the likelihood that competing firms would also lower their prices and possibly trigger a ruinous price war. Or if the firm is considering a price increase, it may want to know whether other firms will also increase prices or hold existing prices constant. This high degree of interdependence and need to be aware of what other firms are doing or might do is to be contrasted with lack of interdependence in other market structures. In a perfectly competitive (PC) market there is zero interdependence because no firm is large enough to affect market price. All firms in a PC market are price takers, as current market selling price can be followed predictably to maximize short-term profits. In a monopoly, there are no competitors to be concerned about. In a monopolistically-competitive market, each firm’s effects on market conditions is so negligible as to be safely ignored by competitors. †¢ Non-Price Competition: Oligopolies tend to compete on terms other than price. Loyalty schemes, advertisement, and product differentiation are all examples of non-price competition. Advantages of Oligopoly Big Businesses Gain Massive Profits †¢ One of the greatest advantages that occurs from an oligopoly is for the few businesses which control the market for a product or service to build large profits due to reduced sales costs. If just a few companies are in control of the market, the companies have limited competition. It is able to reduce the costs of sales, advertising, promotion and public relations because there is very limited competition to pull the customers away. These reductions in cost can allow the companies in the oligopoly to build larger profits than they would have earned if there were more competitiors. Ability to Determine Prices. Instead of having to keep up with the market, the oligopolies essentially control the market. Unlike other markets where there are more competitiors, the companies in an oligopoly are less concerned about what other companies charge. They are able to establish prices for goods that people want and need based on what the companies in the oligopoly want to charge. Long Term Profits. These companies not only make massive profits, but they are able to retain them for the long haul. It takes a long time and a lot of money for a company to work its way into being a major supplier and part of the oligopoly. During this time, the existing oligopoly companies are able to maintain their profits. Disadvantages of Oligopoly Power in the Hands of a Few. If only a few companies control the availability of a specific product or service, these companies control everything about those products – what they look like, what they cost and how they are sold. Putting this power in the hand of a few companies takes away the normal influences of the market and the consumer. The market and the consumer are now totally relying on the companies to make the right decisions, even during periods of market unrest such as limited availability of a specific component, or escalating prices of raw materials. When the wealth is concentrated in the hands of a few companies, smaller businesses have a harder time being seen as a powerful player in the market. They would have to spend a lot of advertising and sales money to compete with the large powerful oligopoly companies. Creativity. When the knowledge and awareness of a product or service is concentrated in just a few companies, it can be difficult for new ideas to come into play. The existing companies may decide to minimize new products and new distribution methods since they are happy with their current processes and they don’t have any motivation to be competitive by lowering prices or introducing new products or processes. For the individual consumer this lack of creativity leads to out-of-date products and services. Setting Prices. These big businesses have the power to determine what the prices will be, without any concern for competition. This is a negative for the consumer and for other businesses. The whole idea of competitive pricing is thrown out the window when these businesses go about their pricing practices. As you can probably see, oligopolies appear to be beneficial for the companies involved in them, but not so great for the other businesses and consumers in the society. GLOBALISATION Globalization (or Globalisation) is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Globalization describes the interplay across cultures of macro-social forces. These forces include religion, politics, and economics. Globalization can erode and universalize the characteristics of a local group. Advances in transportation andtelecommunications infrastructure, including the rise of the Internet, are major factors in globalization, generating further interdependence of economic and cultural activities. Though several scholars place the origins of globalization in modern times, others trace its history long before the European age of discoveryand voyages to the New World. Some even trace the origins to the third millennium BCE. Since the beginning of the 20th century, the pace of globalization has proceeded at an rapid rate. Benefits of Globalisation †¢ By buying products from other nations customers are offered a much wider choice of goods and services. †¢ Creates competition for local firms and thus keeps costs down. †¢ Globalisation promotes specialisation. Countries can begin to specialise in those products they are best at making. †¢ Economic Interdependence among different nations can build improved political and social links. Drawbacks of Globalisation. †¢ Cheap imports from developing nations could lead to unemployment in developed countries where the cost of production is high. †¢ Choosing to specialise in certain products may lead to unemployment in other sectors which are not prioritised. †¢ Increased competition for infant industry. †¢ ‘Dumping’ of goods by certain countries at below cost price may harm industries in order countries. Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross-bordermovement of goods, service, technology and capital. Whereas the globalization of business is centered around the diminution of international trade regulations as well as tariffs, taxes, and other impediments that suppresses global trade, economic globalization is the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market. Depending on the paradigm, economic globalization can be viewed as either a positive or a negative phenomenon. Economic globalization comprises the globalization of production, markets, competition, technology, and corporations and industries. Current globalization trends can be largely accounted for by developed economies integrating with less developed economies, by means of foreign direct investment, the reduction of trade barriers as well as other economic reforms and, in many cases, immigration. Support and criticism Reactions to processes contributing to globalization have varied widely with a history as long as extraterritorial contact and trade. Philosophical differences regarding the costs and benefits of such processes give rise to a broad-range of ideologies and social movements. Proponents of economic growth, expansion and development, in general, view globalizing processes as desirable or necessary to the well-being of human society[209] Antagonists view one or more globalizing processes as detrimental to social well-being on a global or local scale;[209] this includes those who question either the social or natural sustainability of long-term and continuous economic expansion, the social structural inequality caused by these processes, and the colonial, Imperialistic, orhegemonic ethnocentrism, cultural assimilation and cultural appropriation that underlie such processes. The basic function of economy system Every economic system provides solutions to four questions: what goods and services will be produced; how they will be produced; for whom they will be produced; and how they will be allocated between consumption (for present use) and investment (for future use). In a decentralized (usually private enterprise) economic system, these questions are resolved, and economic coordination is achieved, through the price mechanism. Allocation Competitive markets — not corporate-dominated oligopolies — can perform well here so long as side-effects, such as externalities, are incorporated into prices. Ecological economists recognize a legitimate role of the market in society based on the efficiency of allocation of resources. A major improvement in markets includes the side-effects, so markets tell the ecological and social truth. However, pollution provides a subsidy to firms who would otherwise have to clean up their mess. They are easy to hide, hard to calculate, so they persist. This is called a market failure. If markets fail, this means becomes a central point of contention. ESS thus should make a big deal over market failure, which then becomes an institutional failure. Externalities. An externality is a consequence, positive or negative, of an economic activity that affects other parties without this affect being incorporated into market prices. Thus, market price deviates from the â€Å"true† social cost, sending the wrong signal. Note also the subtle linguistic trivialization. Interestingly, the economics profession has long neglected to assess the size or significance of externalities or to calculate the damages perpetrated on its victims, who by definition had these harms inflicted upon them without their participation-despite the obvious dysfunctions of industrialization and urbanization. Indeed, the bias of public policy in the USA has been to protect the producers, not the public at large. Daly comments on the trivialization of externalities by neoclassical economics: When increasingly vital facts, including the very capacity of the earth to support life, have to be treated as â€Å"externalities,† then it is past time to change the basic framework of our thinking so that we can treat these critical issues internally and centrally. Global Fairness Read Sachs and grasp his message. This is authentic social ecology. Without a grand social contract, cooperation between the Global North and the Global South will fail. The results will be disastrous. Sachs realizes that copycat development, the replication of the economic development practices of the global rich, will surely lead to global ruin: more poverty within vast ecological catastrophe. Orthodox western economics can neither be extended to the majority of the earth’s human inhabitants nor can it be sustained indefinitely by the 20% or so who enjoy its cornucopia. Sachs reveals the parasitical political character of global capitalism masquerading as shared economic development. The USA enjoys the opportunity to provide leadership here, but this moral authority has been squandered. ESS requires such leadership, soon. A good place to start is Africa. Brown provides much insight here. Left to itself, a market society will produce large maldistributions in wealth and income. In practice, the market-driven returns to capital, as profits and capital gains, accrue to the wealthy few, the capitalist class, while the returns to labor, wages and salaries, go to a multitude, the working class. This dynamic produces a class-based inequality of both wealth and income, which translates into differential political power. In the past, the inequalities were mitigated by redistributive tax policies–anathema to neo-liberalism, as exhibited by the recent Bush tax cuts. In the era of economic globalization, inequality has grown sharply within nations, including the USA, and on the global scene. Yet, economists regard this normative concern as outside the ken of â€Å"scientific economics. † Therefore, when issues of social justice are openly discussed in the context of sustainable development, do not turn to economics for insight. The usual deflection of the fairness discussion,now in play in the USA since the 2006 election, is to promote economic growth. Grow the pie rather than quibble over the size of the slices. But if the ingredients for physical growth become scarce, growth slows down and the quibbles morph into arguments. This can easily spin out of control. Count on it. Innovation Growth remains the engine of economic globalization without which the system as constituted would crash–although with runaway material growth earth’s ecosystems will surely crash. Schumpeter put it this way: Capitalism, then, is by nature a form of economic change and not only never is but never can be stationary. Schumpeter derided the â€Å"textbook picture† that depicted economic progress as the result of market-based competition . Rather, he pointed to innovation in products, sources of supply, organization, and technology that created a new context â€Å"which strikes not at the margins of the profits and the outputs of the existing firms but at their foundations and their very lives† . Indeed, Schumpeter foresaw that capitalism itself would fall victim to the turbulent task environment of its own making: The capitalist process not only destroys its own institutional framework but it also creates the conditions for another. Destruction may not be the right word after all. Perhaps I should have spoken of transformation . The pivotal move of ESS is to open up a horizon for enormous technical and social progress while maintaining and even restoring harmony with nature. Thus, sustainability offers enormous opportunity. The language of hope must replace the language of despair. There is real opportunity here. ^ Perverse Subsidies A related topic, rarely brought into view, is the plethora of perverse, often hidden, subsidies, including externalities, enjoyed by corporations in such established industries as energy, agriculture, and transportation. Not only do these gifts typically promote older, dirtier, less efficient industries, but they also stymie the development of innovative, cleaner alternatives –depressing prospects for sustainability. For example, subsidies to cotton farmers in the USA disadvantage cotton cultivators in Africa and subsidies to nuclear power generators present an unfair advantage to start-up wind power producers. These often hidden subsidies undermine economic efficiency and promote environmental damage, but go largely neglected in the economic literature. A study released in 2001 by Norman Myers and Jennifer Kent estimates the global cost of perverse subsidies at two trillion dollars, about 5. 6% of the $35 trillion global economy. The subsidy-rich, environmentally poor Bush-Cheney energy policy was formulated behind closed doors with input from energy giants like Enron but with no public disclosure. Eliminating perverse subsidies must be a first step toward building a sustainable economy. Thus, grappling with perverse subsidies and tilting the market toward renewable resources must be high on an ESS agenda. There are multiple components to economic systems. Decision-making structures of an economy determine the use of economic inputs (the means of production), distribution of output, the level of centralization in decision-making, and who makes these decisions. Decisions might be carried out byindustrial councils, by a government agency, or by private owners. Some aspects of these structures include: †¢ Coordination mechanism: How information is obtained and used to coordinate economic activity. The two dominant forms of coordination includeplanning and the market; planning can be either centralized or de-centralized, and the two mechanisms are not mutually exclusive. †¢ Productive property rights: This refers to ownership (rights to the proceeds of output generated) and control over the use of the means of production. They may be owned privately, by the state, by those who use it, or held in common by society. †¢ Incentive system: A mechanism for inducing certain economic agents to engage in productive activity; it can be based on either material reward (compensation) or moral reward (social prestige).