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

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.

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

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.

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.

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.

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. 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