Bismarcks appointment of Minister President of Prussia Essay

Bismarck’s appointment of Minister President of Prussia (1862) was the most important turning point in the course of German nationalism in the period 1815-1919? By 1919 Germany had been united, and the nature of nationalism had changed from a freedom seeking, democratic force into one which demanded popular subservience to the state. German nationalism had clearly changed radically over the period of more than one hundred years and defining the turning point at which it changed is difficult due to the sheer number of factors that impacted upon it as well as the vast number of events and organisations which interfered with its development. Otto von Bismarck would become viewed in later years as the father of German nationalism. When he came to power 1862 the Kaiser was looking for a man who could oppose the liberals and force through a favourable army bill. However, within just nine years Germany would have become united, not without the help, though not always willing, from Bismarck. Bismarck effected the unification of Germany almost single-handedly. However, many of the opportunities which Bismarck actually attempted to manipulate were neither created by him nor very successful. Bismarck did not always manage nationalism as effectively as it is suggested. The Franco-Prussian War in 1870-71 forced to unite with the southern states in Germany when in reality it would have been unlikely that he desired this. Prussia was still attempting to absorb the north German states and to add the southern states, especially with their un-Prussian culture, risked diluting Prussia’s culture too far. It is clear that in 1890 Bismarck was managed by nationalism because he was forced to resign due to the outpouring of nationalist feeling that resented him attempting to hold Germany in check. He represented the old Germany, a Prussian dominated one and in an effort to find a â€Å"German† chancellor he was removed from office. Even the Dual Alliance in 1879 demonstrated how German nationalism forced him to take actions against his will. With his Prussian upbringing his loyalties more likely lay with Russian rather than Austria and the decline of Austria was increasingly clear for all too see, to join the young, powerful Germany with this crumbling empire would do nothing to help the country yet nationalistic feeling in Germany forced the Alliance. Bismarck’s appointment in 1882 was an important moment in German nationalism but the theory that one man had such an impact upon the fate of a nation does not stand so well in light of deeper scrutiny. The Congress of Vienna held in 1815 helped create an environment which would help the growth of German nationalism. Prussia’s gains in the west of Germany were actually intended by the Allies to be a burden. They had given the smallest of the Great Powers the most difficult job as acting as a barricade against France. However, this would backfire on the Allies when it would later become Germany’s massive industrial growth. It also affected the nature of Prussia, whereas she had previously been a predominantly Eastern European power she now had a pan-German outlook, though it appeared to begin with that she had little in common with her western population. The distance between the two main blocks of land meant that transporting goods between the two would prove difficult and this would spur the creation and development of the Prussian Customs Union in 1818 which would later become the Zollverein in 1834. However, when at the Congress of Vienna the Allies faced the question of â€Å"what is Germany† they fell back on historical precedent, the Holy Roman Empire. This can be seen as a retrospective step because it actually excluded areas of both Austria and Prussia, as well as making many of the smaller states much larger. The Congress of Vienna was not a turning point in German nationalism, but without it the nature of Germany could have been very different from that with which we are familiar if it existed at all. The creation of the Zollverein in 1834 was a critical turning point for German nationalism, formed from the Prussian Customs Union in 1818. Thomas Nipperdy described the creation of the Zollverein as â€Å"the outstanding event in all-German history†. Given the basis as a pan-German union it improved the contacts between all of the German states, encouraging them to work together for mutual benefit and broke down barriers between the regions of Germany both officially and culturally. It is often the case that economic unity leads to political as appears to be the case with the EU, formerly the European Economic Community (EEC) and the push for a European constitution. However, German political unity was far from inevitable, many Germans now saw political unity as obsolete because they achieved all the benefits of such a union without the risk of losing any of their own unique regional culture. The Zollverein was also critical in training a new cadre of diplomats for Prussia and teaching them to administer a â€Å"German† organisation, experience which would be invaluable in the post-unification era. Bismarck once declared in a speech to the North German Reichstag in 1869 that â€Å"He who has his thumb on the purse has the power† and by taking the economic leadership of the German states Prussia rose importantly and a Kleindeutsch solution to the German problem became much more feasible. It also struck a double blow in this respect. It not only made a Prussian-led Germany more likely but it made an Austrian-led Germany less likely. Because of her exclusion from the customs union the Austrian economy suffered and her already fragile market became on step closer to failing and this would be one of the major reasons for her defeat to Prussia. The use of the economy mirrored the nature of German nationalism; initially it was a liberal move, the reduction of trade barriers embodied by the introduction of the Zollverein. However, by the time unification was achieved economic policy turned its back on liberalism and the economic protectionism Bismarck employed against Russia helped show how far nationalism had changed. The Zollverein would form the template upon which the German Empire would eventually be founded, a kleindeutsch dominated by Prussia. Some historians even go so far to view the whole of the unification of Germany as purely an economic transaction, that it was not driven by political ideology but by the cold logic of money and economic expansionism. The Zollverein did represent an important twist in the history of German nationalism but it did not utterly change the face of the ideology but simply made the prospect more likely. In addition to this, the success of the Zollverein would provide the necessary environment for the rapid expansion of industry within German and this would have a critical impact upon nationalism. 1848 can very easily be viewed as the critical turning point in the history of German nationalism. It is often seen as a turning point about which history failed to turn, and it is this very failure which makes it such an important date in the history of German nationalism. 1848 presented revolutionary factions within Germany, and other countries throughout Europe, with a window of opportunity. In Paris the Second Republic is established in a welter of violence; in Sicily the Palermo Uprising takes place; in Hungary revolution boils over; Swedish revolutionaries are gunned down by their government and in Ireland the potato famine sparks the Tipperary Revolt. To the established order it appeared that stability was breaking down and anarchy threatened them. It was in this climate of exceptional change that the German revolutionary effort failed. The dithering incompetence of the middle classes, coupled with their glaring impotence discredited liberal politics and any idea of a revolution from below. This would prove potentially dangerous for the development of German nationalism. Divorced from its liberal and democratic roots it became a force of the right and of the paternalist government. This resulted in the desire for individual freedoms being sacrificed for the will of state. The government was paranoid about the dangers of the socialist movement within Germany, but they actually shared many common ideals, most markedly the concept of the priority of the state over the individual. It became obvious that power and change could not be achieved without the power of an army to back themselves; Bismarck summarised this problem in his most famous speech â€Å"the great questions of the day will not be decided by speeches and majority decisions – that was the error of 1848 – but by iron and blood†. Given our knowledge of how German nationalism developed into a violent, racist, militaristic force it is clear to see that 1848 was a seminal moment in its development, the pre-1848 liberal, French-styled nationalism became a force of the militant right. 1848 also represented a turning point for German nationalism in a European context. It appeared that countries were naturally progressing from being authoritarian monarchies to becoming nationalistic, liberal democracies. Germany’s refusal to follow this trend fundamentally altered the nature of German nationalism. This turning point about which history failed to turn left something rotten at the core of German nationalism. The change from idealism to brutal pragmatism, combined with the machinations of Bismarck and the authoritarian government meant that the German people’s cause was subverted and used as a weapon against those European powers who had abused Germany for such a long time. On the 18th of January 1871 the German Empire was proclaimed in the Hall of Mirrors at Versailles. This can easily be seen as a turning point in German nationalism, it finally created what the nationalists had been striving for over the past half century. Though it is true that the majority of what then became Germany existed in the North German Confederation created 4 years earlier after Prussia’s victory over Austria it represented a subtle but important shift in the history of German nationalism and the process of reaching the announcement played a very important role in defining the new Germany. Even the date upon which the Empire was announced held special significance, 270 years earlier the first Elector of Brandenburg was crowned King in Prussia. This clearly symbolically established Prussian hegemony over the newly created German Reich. Even the fact that the proclamation was made at Versailles was more significant than simple a quick expediency. Were the proclamation were to be made in Berlin, the capital of the new Empire, it would have most likely been made in Parliament. For Bismarck this would have been intolerable, in his eyes it was the army and their feudal, warlord leaders who had united the new empire rather than the romantic liberals and their â€Å"speeches and majority votes†. The Reich was declared in the home of imperial power, Versailles was the benchmark against which all other symbols of imperial might were measured and it clearly showed how the ruling elite of the new Germany planned to rule the country. It would be easy to say that it was a simple political humiliation for the French to have their enemies declare their new country in the French capital but to do this would ignore the deeper significance of both the time and place it was made. Nationalism within Germany underwent many changes over the period from 1815 to 1919. It suffered from a gradual change from its ideals over the time and it is difficult to differentiate between the impacts that the different potential turning points had on German nationalism. However, the most seminal moment in the history Germany nationalism was when it shifted indelibly from the idealists’ views to the pragmatic views of the industrialists within the country. 1866 can be seen as the turning point in the unification of Germany rather than a turning point in the nature of German nationalism. The failure of democracy in 1848 at a time when many other revolutions had succeeded left many Germans with the view that it would only be through violence and warfare â€Å"blood and iron† that their dreams would ever be realised.

Housing Problems Essay

1 Population growth and urban problem in Mumbai, India According to G.Tyler(1994), the more poor people move from rural to urban area the more poverty is becoming urbanized. A lot of cities have damage because of the extreme poverty and social and environment in stead of being centers of commerce and industry. In this article I will discuss the problem of slum clearance in Mumbai, India. I am interested in poor people in urban area. First I will refer about population growth which is related to urban problem. Second, I suggest that slum clearance is not good enough for solving the problem. Third, as a conclusion, I suggest that India government should keep providing various kinds of social services to needed people. Population growth is related to urban problem. According to Tyler (1994),at least 1 billion people -18% of the world’s population-live in the crowded slums of inner cities and in the vast, mostly illegal squatter settlements or shantytowns that ring the outskirts of most cities in LDCs(Less Developed Country)(bookÃâ€"@,p.26). I agree with Tyler’s explanation. India government has done slum clearance since early 70s when the Slum clearance Act was passed the Mumbai city (artic.Ãâ€"@,para.2). In the name of beautification India government did renewal the city. India government has a vision to develop her country like Singapore. I think the slum clearance is very strict for the poor people and the policy does not work well. Because slum clearance only makes other squatted area. People have no way with dwelling in bad habitat environment. In my opinion this is also an ethical issue because people have the rights to live. I believe everyone has the rights to live even they live in slum. Unfortunately, poor people are r egarded as a part of bad environment. So the real problems are in the human rights and the government policy. India Government should face with the roots of problem and provide some policy. So they should keep provide various kinds of social services for needed people. Some private organizations provide health care program and family planning. One of the organization has maternal and child healthcare program. To save poor people they should focus on each person who is involved in serious conditions. They have a lot of need. I think such social service and education are very important to fulfill the needs of poor people. They need clean water, foods, housing etc. So I suggest that India government should keep welcoming NGO from foreign countries and support their activity. As a conclusion, Population growth is related to urban problem. Slum clearance is not enough for solution of the problem. India government should keep providing various kinds of social services for needed people. To provide social service to those area is a kind of investigation to children for the future. I believe when people change, nation change. This issue should be developed to the quality of life of poor people in slum area. 2 Air Pollution Construction activities that contribute to air pollution include: land clearing, operation of diesel engines, demolition, burning, and working with toxic materials. All construction sites generate high levels of dust (typically from concrete, cement, wood, stone, silica) and this can carry for large distances over a long period of time. Construction dust is classified as PM10 – particulate matter less than 10 microns in diameter, invisible to the naked eye. Research has shown that PM10 penetrate deeply into the lungs and cause a wide range of health problems including respiratory illness, asthma, bronchitis and even cancer. Another major source of PM10 on construction sites comes from the diesel engine exhausts of vehicles and heavy equipment. This is known as diesel particulate matter (DPM) and consists of soot, sulphates and silicates, all of which readily combine with other toxins in the atmosphere, increasing the health risks of particle inhalation. Diesel is also responsible for emissions of carbon monoxide, hydrocarbons, nitrogen oxides and carbon dioxide. Noxious vapours from oils, glues, thinners, paints, treated woods, plastics, cleaners and other hazardous chemicals that are widely used on construction sites, also contribute to air pollution. Water Pollution Sources of water pollution on building sites include: diesel and oil; paint, solvents, cleaners and other harmful chemicals; and construction debris and dirt. When land is cleared it causes soil erosion that leads to silt-bearing run-off and sediment pollution. Silt and soil that runs into natural waterways turns them turbid, which restricts sunlight filtration and destroys aquatic life. Surface water run-off also carries other pollutants from the site, such as diesel and oil, toxic chemicals, and building materials like cement. When these substances get into waterways they poison water life and any animal that drinks from them. Pollutants on construction sites can also soak into the groundwater, a source of human drinking water. Once contaminated, groundwater is much more difficult to treat than surface water. Noise Pollution Construction sites produce a lot of noise, mainly from vehicles, heavy equipment and machinery, but also from people shouting and radios turned up too loud. Excessive noise is not only annoying and distracting, but can lead to hearing loss, high blood pressure, sleep disturbance and extreme stress. Research has shown that high noise levels disturb the natural cycles of animals and reduces their usable habitat.

Adult Boundaries in ‘the Passion’ and ‘the God of Small Things’.

Winterson and Roy refuse to ‘accept what we think of as adult boundaries'. How is this reflected in ‘The Passion' and ‘The God of Small Things'? In every civilisation, there are boundaries which are set by the adults to run our lives. They are the unspoken laws which were created by higher authorities and not supposed to be questioned. Adult boundaries present the strength of the society. Yet those boundaries suppress the individuals’ freedom. Most importantly it deters the lives of the weakest people in the society.Both Jeanette Winterson and Arundhati Roy have strong opinions on these adult boundaries. Arundhati Roy was born in 1961 in the North-eastern Indian region of Bengal, to a Christian mother and Hindu father in India’s caste system. She spent her childhood in Ayemenem in Kerala. Roy is widely known for political activism. Winterson was born in Manchester. She was adopted and raised in Elim Pentecostal Church. Her parents wanted her to be miss ionary. Winterson identified herself as a lesbian and left home at 16 as her parents would not accept her as a lesbian.Brought up as a Pentecostal Christian, â€Å"Jeanette never truly abandons her faith; her faith abandons her because of clear disagreements over her sexual identity†( Michael Dick on ‘Oranges Are Not the Only Fruit’). Here, Winterson’s faith could be her parents. Perhaps she had faith in them that they would accept her. Therefore she doesn’t abandon them but they abandon her. One might suggest that this is a false statement because Winterson’s rebellious personality may have pushed her to abandon her faith.Although both writers are attacking the adult boundaries to break them down, they know this would usually end in tragedy as adult boundaries restore orders. Both writers use their characters to define and then challenge the society’s rules. The formation of and belonging to categories are adult boundaries. For exampl e Estha and Rahel were not aware that they belonged to a categorised system as they ran off to Velutha to freely play with him therefore meaning that categories form as you grow into it. The characters are faced with loss of freedom as they have no choice as to â€Å"who should be loved.And how. And how much†. Estha and Rahel are limited in showing their love towards Velutha and Ammu breaks the boundaries by loving an Untouchable. Velutha. Similarly, Villanelle differentiates between genders which are two completely different categories. She dresses as a male by wearing a ‘codpiece’ and covering her face with ‘white powder’. Every layer of powder blurs the ability to differentiate her between genders. Winterson says, â€Å"heterosexuality and homosexuality are a kind of psychosis, and the truth is somewhere in the middle†( http://www. brainyquote. om/quotes/keywords/homosexuality. html). However, this is biased as Winterson is someone who chal lenges the barriers set for her. The idea of sexuality categories is bound to cultural and historical factors. For some, The word ‘heterosexuality’ is redundant because male and female genders naturally complete each other. Winterson does not want there to be specific categories separating sexual preferences which she has to belong to. Therefore, as she fearlessly breaks between boundaries they become blurred as the readers cannot decide where she belongs.Henri is also present in a so-called them and us category as he justifies the killing of British soldiers by calling them, ‘the enemy’ rather than recognising their humanity and the responsibility associated with taking human life. Under Napoleon’s personal governance, Henri insidiously expresses his feminine side. He feels sympathetic to the abused prostitutes and feels fear by the inhumanness of the war. Henri is actually a weak, even feminine soldier, who has a passion for Napoleon which implies that he is also sexually attracted to him.After losing an eye at Austerlitz, Henri questions himself if he should run away from the war. Henri then says, â€Å"to survive the zero winter(†¦ ) we made a pyre of our hearts and put them aside for ever. There’s no pawnshop for the heart†. His decision to abandon is certain. Henri starts to hate napoleon and himself for loving him. Henri is tackling boundaries as he isn’t conforming to orders and love laws. Napoleon lacks the passion Henri is in search of. The words ‘Untouchable’ and ‘Touchable’ are a formation of adult boundaries as it assesses who is allowed to interact with whom.Ammu imagines touching Velutha’s muscular body which she is not allowed; this shows that passion can take over the boundaries. Villanelle admits that â€Å"Somewhere between fear and sex passion is†. This is true because your passion can lead you into dangers which you would usually fear yet it satisfies you at the same time. For instance, France’s unjustified love for Bonaparte, who has exploited them, sent their sons to death and ‘bled them dry’. ‘Love Laws’, the boundaries imposed by traditional caste societies, are torn down in both novels as Winterson and Roy refuse to accept the classic ‘fairy-tale’ model of love.As the audience found Estha’s joyful singing irritating, they sent him out where he lost his voice forever. Estha losing his voice was like losing his virginity. His innocence is stolen by this man. While Rahel senses that this man cannot be trusted, she tells Ammu, â€Å"So why don't you marry him then? † only to be told that now Ammu loves her a little less. Consequently Rahel is inconsolable and unable to forget Ammu's words. This is certainly contravening because while Estha is more loved Rahel is being less loved. Roy may be doing this to show that Love laws can sometimes be unfair and that no one has control.More importantly, the peculiar sexual intimacy between Estha and Rahel completely destroys boundaries. Loredo believes the cause for incest is â€Å"the desire for affiliation and affection; a combating of loneliness, depression, and a sense of isolation; and a discharging of anxiety and tension due to stress†( www. pamramsey. com/incest. htm). Although the twins having a high intimacy, Roy most probably wanted to show innocence as they had known each other before life began, – two separate individuals who share a single womb for nine months.Estha saw his mum in Rahel and it was as if Estha had returned to her after he was sent away. I do not believe â€Å"the taboo breaking coupling of the twins†( Aijaz Ahmad reading Arundhati Roy politically) should be seen acceptable as this will scar them forever when they realise their guilt. Similarly, in ‘The Passion’ the so called holy priest â€Å"had been forced out of the church for squin ting at young girls from the bell tower†. A priest is supposed to be a person who gives direction and sin-free. However the priest is not innocent anymore.Both authors refuse adult boundaries in order for everyone to be equal and free. However if there were no rules and orders the joy and satisfaction of breaking them would not exist. Ammu wouldn’t feel the pleasure where she secretly seeks for Velutha. Estha and Rahel wouldn’t be able to enjoy running off to Velutha. Villanelle wouldn’t feel pleasure of confusing men with her codpiece and powdered face. At the end of the day, â€Å"The one who breaks the silence is never forgiven. †( Jeanette Winterson- ‘Why Be Happy When You could Be Normal’)Control encourages adult boundaries to form. In ‘The God of Small Things’, the history house seems to be very powerful. â€Å"To understand history,† Chacko says, â€Å"we have to go inside and listen to what they’re sa ying. † The twins acknowledge that the river acts as a barrier to them, preventing them from getting the cruel truths, putting the pieces of the puzzle together. Chacko also told them that â€Å"the whole contemporary history, (†¦)- was no more than a blink of the Earth Woman's eye†, compared to whom they were inconsequential.This story is actually really important in shaping the twins’ later life. They openly are being told that they’re insignificant. They are just a small part of a great picture that will have little lasting effect. Correspondingly, as Anne Clarke mentions, â€Å"Chacko, (†¦) explains to Rahel and Estha that they are a family of anglophiles(†¦). From Chacko’s disillusioned perspective, cultural hybridity is seen as emphatically negative as it alienates the subject from both cultures†: â€Å"we belong nowhere. We sail unanchored on troubled seas.We may never be allowed ashore†. ( Anna Clarke, ‘lan guage, hybridity and dialogism in ‘The God of Small Thing’) This will instantly create boundaries for them as they will know they have no freedom and are controlled by larger external powers. Both authors dislike the human enthusiasm with wealth but they do not reject adult boundaries, they debate adult passion to treat rich with great regard. Roy tells her reader that wealth alone does not determine the moral integrity of a person, as Pappachi’s treatment of his wife and his children demonstrates this. They were beaten, humiliated and then made to suffer (†¦) for having such a wonderful husband and father. † It is visible that she is being controlled because Chacko starts to take control of the pickle factory just as it was doing well. Pappachi beats Mammachi because he feels that women should not have so much control, – he is afraid that it’s shaming his manhood. Concurrently, Villanelle is living a life Winterson wanted to live herself ; – she allows her character to live freely. In reality women in the 17th and 18th century would not be as free as Villanelle.For instance â€Å"Women who spoke out against the patriarchal system of gender roles, or any injustice, ran the risk of being exiled from their communities. †( http://www. enotes. com/feminism-criticism/women-16th-17th-18th-centuries) Georgette is another example of the women at the time although she was not â€Å"tried for heresy in 1545 and eventually burned at a stake†( http://www. enotes. com/feminism-criticism/women-16th-17th-18th-centuries) like Anne Askew, an outspoken English protestant. â€Å"Georgette actively opposed to the established system of patriarchy†. ( http://www. enotes. om/feminism-criticism/women-16th-17th-18th-centuries) One might suggest that Georgette is a ‘positive heroine’. Unlike a fairy-tale character, she does not deny her father’s authority but rejects being manipulated as a produ ct. Winterson is blatantly frustrated as she questions, â€Å"Why should a woman be limited by anything or anybody? Why should a women not be ambitious for literature? Ambitious for herself? †. ( Jeanette Winterson- ‘Why Be Happy When You could Be Normal’) However, this is easy to say for Winterson because the consequences of rebelling may outweigh the benefit of freedom.Therefore with Villanelle, Winterson creates a role model for women to follow. ‘The Passion’ and ‘The God of Small Things’ uses language to escape the reality of the adult boundaries. The twins Rahel and Estha want to move away from reality because 2what you end up remembering isn’t always the same as what you have witnessed†( Julian Barnes-The Sense of an Ending) which is why they often seek refuge in the fiction world. â€Å"Like the actor-dancers [of Kathakali†¦] the twins feel as if they were living in two worlds at the same time†. Joelle Cel erier-Vitasse – The Blurring of Frontiers in Arundhati Roy’s ‘The God of Small Things’) After witnessing the action of the Touchable police towards Velutha, Rahel does not accept his death. There are many similar cases in history as Edward Luce says, â€Å"In much of rural India caste discrimination is as rampant as ever and hundreds die every year from caste violence, some at the hands of police†. ( In spite of the gods by Edward Luce (pg. 125)) When they see that â€Å"blood spilled from his skull like a secret. Rahel refuse to believe that it is his body whereas Estha refuses to see it a fiction anymore. Perhaps the reality is too hard for Rahel, as Velutha is a father figure to them. Both writers’ characters deny the unpleasant realities like a child. In ‘The Passion’, Henri justifies his killing by calling them the ‘enemies’ instead of giving them any human qualities, – he does not come to term with his action. Similarly, when Comrade Pillai wants the workers to stand against Chacko, he talks about him as ‘The management’. By doing this he is taking away his human side so the workers will not feel any guilt.Winterson seems particularly discontented by the boundaries enforced by the physical world, and utilizes the freedom offered by the creation of her own reality. Villanelle’s tendency towards theatrical cross-dressing dims the boundaries of reality; her excessive make-up, â€Å"I made up my lips with vermilion and overlaid my face with white powderâ€Å", conveys a fantastical image of a person from real one. The arrival of Sophie Mol in the Ayemenem household, whilst is theatrical, with the veranda becoming the set for the performance gave it the dignity of a stage and everything that happened there took on the aura and significance of performance.Whilst Winterson aims to â€Å"sharpen and multiply the possibilities of the actual world†( http://nccur . lib. nccu. edu. tw/bitstream/140. 119/33324/6/55101206. pdf) and create a better reality, Roy’s use of the comparison to theatrics is scornful. Roy mocks the rehearsed pleasantries that convention dictates and the characters go with it. Roy believes that they are another sign of society’s suppression of genuine human interaction. Overall, both authors clearly feel let down by the oppressive nature of many of the adult boundaries which are customary in the society.They also seem to resent the reverence many show for history, particularly when elements of history – war, oppression, and suffering – are so brutal. Both authors revel in the creation of their own realities as metaphorical escapes from the physical world and, in this, they once again come to resemble their characters: seeking refuge in their own fabricated stories. Bibliography 1. Roy, Arundhati. The God of Small Things. IndiaInk, India. 1997. 2. Winterson, Jeanette. The Passion. Grove Press. August 7, 1997. 3. Luce, Edward. In Spite of the Gods: The Rise of Modern India. Anchor.March 11, 2008. 4. 4. Clarke, Anne. language, hybridity and dialogism in ‘The God of Small Thing’. Routledge. 2007. 5. Winterson, Jeanette. Why Be Happy When You could Be Normal. Grove Press. March 6, 2012. 6. Barnes, Julian. The Sense of an Ending, THE NEW YORK TIMES BOOK REVIEW. USA. October 5, 2011. 7. Dick, Michael. ‘Oranges Are Not the Only Fruit’. Ryerson University. November 25, 2005. 8. Roy, Winterson. Homosexuality Quotes. Brainy Quote. 2001 – 2012 BrainyQuote. BookRags Media Network. http://www. brainyquote. com/quotes/keywords/homosexuality. html. 9. Ramsey, Pam.Psychological Effects of Incest on Girls Focusing on Sibling Incest. Pamramsey. 1994. http://www. pamramsey. com/incest. htm 10. Cengage, Gale. Feminism in Literature. eNotes. 2005. http://www. enotes. com/feminism-criticism/women-16th-17th-18th-centuries 11. Book by Onega, Susana . Refracting t he Canon in Contemporary British Literature and Film. 1994. Quote by Winterson, Jeanette. 1996. 12. Ahmad, Aijaz. Reading Arundhati Roy politically. Frontline. 8 August, 1997 13. Celerier-Vitasse, Joelle. The Blurring of Frontiers in Arundhati Roy’s ‘The God of Small Things’. France. 2008.

Anti hacking techniuqes Coursework Example | Topics and Well Written Essays - 1750 words - 1

Anti hacking techniuqes - Coursework Example Cybercrime is one of the problems being faced by everyone using computer systems and networks. The occurrence of cybercrime is all over the world. The cyber criminals have made everyone there target. There are various types of cybercrimes. This includes cyber stalking, identity thefts, malicious software, child abuse and soliciting and finally, hacking [1]. One among the stated cybercrime which is very popular is hacking. Hacking is caused by the desire of a hacker to get access to information without being authorized. Hacking is caused by the desire of the hacker to steal personal information from other internet users and use it for his/her own advantage. Hacking is dates back to1990’s where by hacking was basically done to be used to get more information of the system. This resulted in rivalry of hacking whereby hackers competed against each other in the determination of the best hacker. This saw the introduction of malicious software making them ubiquitous. Thus, the hacking infiltrated into networks making them, together with systems, slow. The growth of hacking became enormous and as a result, the hackers gained more skills making them skilful, knowledgeable and expertise in victimizing and exploiting others [2]. In recent times, hacking is not only used to victimize and exploit others, but also, hackers indulge in the hacking cybercrime to utilize their knowledge to gain quick benefits. The expertise is used by the hackers to exploit, deceive and steal to make easy money. The recent times have seen tremendous growth in technology whereby the growth of the internet is a major drive in this technological growth and as a result, the world is being made a global village by enhancing communication. Most of the crucial services like banking, institutional management, among others are done on the internet. The existence of the hackers

Environmental Sustainability in the EU my country is Portugal Essay

Environmental Sustainability in the EU my country is Portugal - Essay Example This concept works to promote developments by maintaining the equilibrium of economy. Environmental issues have become a major concern for all nations for they evidently formulate specific policies for ensuring ecological safety. At this juncture, the promotion of renewable energy sources requires higher significance. This paper in particular, will evaluate Portugal’s potential for using renewable energy sources. Non-renewable energy use The sustainability of an economy highly depends on the availability and consumption rate of its energy resources. The development of profitable energy resources has a direct impact on market expansion and the quality of public services. The market price of no-renewable energy includes cost of exploration, refining, pollution measures, distribution and transportation expenses, and taxes and other related fees (Conserve energy future). In addition to the market price, non-renewable energy also includes some other costs called externality costs t hat arise due to factors such as property damage, environmental damage, war, and health care. Hence, it is evident that energy prices and externality costs would influence the rate of energy consumption. Renewable energy sources Obviously solar energy is an eco-friendly renewable energy that is available at free cost.

Qualifiers for a Post Graduate Professional University Essay - 5

Qualifiers for a Post Graduate Professional University - Essay Example 2. Even if the person is unlucky enough not to have his work published, even then, if it possible that his doctoral thesis is under approval, or being considered for approval, is also signs of a winner and qualifier. The fact that the person has been able to put forth efforts towards receiving a doctoral degree and it is under active consideration is also manifestation of order winners and qualifiers. 3. The choice of an advisor is also a significant matter since the influence of the advisor would be felt in the academic activity of the research scholar if not overtly than covertly. For this reason, it is necessary that the advisor need to be a person of sound knowledge in his field, a person who could be depended upon to give excellent guidance and knowledge and who would be useful in carrying out the advisory aspects regarding the studies. It is seen that in our University, the advisor is a person who could be relied upon to give sound and judicious advice and help the students in whichever way it is possible. The relationship which student bear towards the advisor is also important, since an excellent personal rapport would ensure good professional relationships also. Therefore it is necessary that the students should cultivate good professional and personal relationships with the advisor who could guide them in their academic pursuits. Thus the professional standing of the adv isor would be helpful to the students in their academic activities It is seen that the order winners and qualifiers are the ones who have been blessed with good advisors and this is a significant aspect in being a winner 4. The Teaching faculty is also important in that the quality of training and imparting of knowledge has a definite bearing on the students. It is  necessary that in a class there should be systems by which the teacher has the complete responsibility for the designing of the course and its teaching to the students.  

Loan process - Small Business Case Study Example | Topics and Well Written Essays - 1000 words

Loan process - Small Business - Case Study Example The process therefore is as follows: - Assessment of credit factors: - credit factors are majorly the factors that are considered by the financial institutions or credit providers before they extend their loans to any business venture. It depends much on the amount required and whether you can provide security for the funds borrowed. They include factors such as credit worthiness of the small business. To an extent, this is looked at with reference to Current Assets and Current Liabilities with the business (Harper, 2006). More assets with less debts means the firm is a going concern and the difference would tell us the extent of liquidity of the business. The business should also consider if it has partners that can act as the business guarantors. Lenders are also very keen on how the funds if given out would be managed. If they detect they would be embezzled then they would rather keep them than give out as loans (Harper, 2006). The second step is the determination of why the small business needs financing: - here, assessment of the current financial situation is mandatory. The owners should be in the position of knowing whether they are comfortable in their current situation or not, they should also be able to know why they need the cash i.e. for expanding operations or for managing risks, the urgency of the needed money should also be of importance to the owners. The most critical in this part is to know the extent to which finance requirement agrees with the business plan (Green, 2011). A plan is the tool to convince any lender and a small business without this should strive to have one to be in a position to convince investors who may be willing to engage their funds in such ventures. The third step is the Checklist for Business Loans: this is based on the fact that businesses have diverse areas to obtain funds. This part only helps us decide where to get our loans after considering factors such as interest rates and loan repayment periods vs. the cash fl ows to be received from the business and the frequencies of such flows. This is dictated by the listing of the business by the business lister depending on their performance in the market (Harper, 2006). The question of whether a loan will be provided from the institution where the business applies from depends on whether a conclusive and relevant document is submitted to the lending agency. Some agencies normally accept some documents of application and do not accept others (Green, 2011). General documents entail; personal backgrounds of the business, resumes to tell about the business profile, a business plan which is the most fundamental for any financial provider, both personal and business credit reports and lastly a collateral security report and legal documents showing the legal existence of the business (Harper, 2006). The forth step is that the owners of the business need to make a very detailed submission of the business as any information ignored might be of interest to t he lender and this may jeopardize there willingness to advance such loans. With respect to your application, it is also important to state the industry that your business target as well as those which poses threats to your business (Harper, 2006). This again will help your lender to make informed decision regarding the prevailing circumstances on whether to advance the loan or not. A loan application

Organization from a communication management perspective Assignment

Organization from a communication management perspective - Assignment Example These social media categories serves the organizational communication to its intended audience. Its intended audience could be the organization’s members and officers and in the case of a business organization, to its target market, shareholders, potential customers and regulatory agencies. The use of social networking does not only provide an interactive web presence but also reinforces the positive image of the company by informing the public about the organization’s products, services and activities including its business practices that would reflect good corporate citizenship consistent with the practice of ideal organizational communication. Theories of organizational communication posits that organizations need to relay itself not only with its internal customers (employees) but also with the external customers not only the positive activities that made them as organization but also the values that help shape the organization thereby fostering not only understandi ng about the company but also reinforces its positive image as well (Dainton and Zelley, 2005). Social networking as a function of social media is also an excellent platform to communicate corporate culture that animates the organization enabling its intended audience to understand and relate with the company better. Another social media category that can benefit an organization from a communication management perspective is the search category such as Google and Bing. This is essential because search engine ranking establishes the web presence of the organization. If the organization cannot be found on the search engine either through plain search or links, it would also be tantamount to being absent in the web. Even if the organization has an excellent website or social media page, it would be tantamount to nothing if it cannot be reached by its intended audience. In organizational communication, it is essential that the message of the

The Business Environment Essay Example | Topics and Well Written Essays - 500 words

The Business Environment - Essay Example Sole proprietorship which is also called single proprietorship is the simplest form of a business organization (Horgren et al 2000). In this set up, an individual establishes an organization and run it alone. A married couple who opts to open a small store can also be considered as a sole proprietorship. This type of business organization is seen to be the easiest to establish because it lacks the legal formality and other arrangements since there is only one owner. In terms of accounting, sole proprietorship also requires the simplest procedures. No corporate taxes are paid but the taxes on income are considered personal taxes. However, sole proprietorship is exposed to the difficulty of raising capital from other individuals and financial intermediaries. Also, the owner shoulder all the risks associated in the operations. Partnership is the form of business organization where two or more partners share in the profit which is usually determined by the amount of resources and assets that they share in starting the business (Keown et al 2005). In this set up, the business organization is benefited through the number of people which shares knowledge and skills in running the company. Income taxes are also deducted in the personal taxes paid by each of the partners. However, the number of owners can also become a problem especially in terms of decision making and profit sharing. Corporation is a business organization which has numerous owners all of which are separate entities to the business organization (Fraser and Orniston 2004). It should be noted that owners are insulated from the liabilities of the corporation since they are only liable for the amount that they invested. This form of business organization enjoys the benefit of having more individuals to fund the company’s projects and activities through selling of stocks. Also, stockholders are not necessarily managers of the company which delegates the responsibility to

Marketing Proposal & Advertisement Assignment Example | Topics and Well Written Essays - 750 words

Marketing Proposal & Advertisement - Assignment Example It is my proposal that we hold a marathon event for all type of people. However, we will have to collaborate with the wildlife agency to allow us to use the Park. Other global companies and organizations such as Coca-Cola, W.K.K.F, Pepsi and Safaricom are willing to help in saving the situation support the event. Using the National Park will be helpful because people will have fun and at the same time help us to assist the communities have water for irrigation. There being no food available in the area is a motivation that the water will boost irrigation and food security in the locality will improve. The target audience for the marathon event is athletes, people interested to spend their weekend in a Wildlife Park, rich people interested to lose weight by exercising, our sponsors both local and international, and all the well-wishers willing to make a difference in the society. Obviously, there are those people who are passionate to promote charity work. Secondly, there are those people who love spending their weekends in a place far away from homes and prefer attending events. Thirdly, considering that there will be rewards for the top five people to finish the race, there will be people who will be willing to exercise their talents in the events and maybe emerge the winners. Fourth, there are those people are passionate about charity work and they will find an opportunity to participate and have fun too. Nevertheless, there will be people who will be influenced by their friends and colleagues to attend the event. Putting all these people interested in the event, the event will provide satisfaction to all the people in attendance. The Fundraising event has several benefits to the people in attendance and more profit to the communities living in the locality. The people in attendance will enjoy in the event, execise their bodies and enhance their health, fulfill their desires of spending their weekend in a park and finally feel

Integral part of British culture Essay Example for Free

Integral part of British culture Essay Soaps are contemporary, which means they are written in the same rime that they are being acted. Some viewers develop whats called social critism or social commentary, when as I mentioned before, viewers get lost in the plots and get carried away with their feelings. You sometimes hear about people trying to kill characters that they dont like. I just think how pathetic they are that they cant differenciate between a soap opera and reality. Political bias is another issue, which tends to sway the minds of viewers. This happens when a character is portrayed to have a specific political view on a matter. For example if a character is strongly against the Labour Party, their views may rub off on to the public, and then the public assume that that is their real belief. Really the actors/actresses are shoved a script to learn. They dont mess about and argue with the script writers just because their views differ to their characters. Many potentially controversial issues are embarked upon in soaps. For example, when the first lesbian kiss was screened on Brookside a few years ago everyone was horrified. On the otherhand, it encouraged real life lesbian couples to go public, not being ashamed of their sexuality. Soap operas are a form of voyeurism which means you can enjoy watching without participating, which is just up some peoples street. Its nice to come in from school, make a cuppa and be entertained by people for half an hour, from a distance, without having to participate. Some people believe soaps are anti-depressants. This is true when you are experiencing serious problems in your life. It is comforting when you switch on the tv and find a character with a much worse problem than yours. It puts everything into perspective, and demonstrates that it is quite possible to overcome such problems. Soap operas prove to be relief from everyday pressures, albeit temporary. This is especially true for me. My artistic merit is Neighbours. Sometimes I cant wait till 5. 35pm, because I know that I can relax during the twenty five minutes it is on. Soaps are very informative about occupations. You get to know what a characters job involves and requires. For example, Joe Scully is a builder in Neighbours, Paddy is a vet in Emmerdale and Karl Kennedy, a doctor in Neighbours. All these characters provide good insights into these careers, which may help you to choose which job suits you. Soaps allow you to study lifestyles. This is especially useful for sociology and psychology students who are required to research different lifestyles and the way they affect our personalities. Using these studies they can compare the lifestyles of regions or countries, and how they differ. Soaps are used as message propaganda. This is when truths or quotes are twisted and end up only half true. Journalists use this technique. Since video recorders developed, soaps have given them a revolution. Before technology developed viewers who were unable to watch an episode simply missed it. Now, it is popular to record programmes when you are out, or viewing on another channel. This revolution has increased the viewing figures by thousands. Producers of soap operas have many promotion techniques. Some of these include advertising, omnibus episodes, special length episodes with exciting content, ie, a birth or a wedding. All of these attract the viewer and send the ratings rocketing. There are two types of soaps: Imported and home grown. Imported is self-explanatory-the soap is imported from other countries to our screens, Home and Away and Neighbours are examples. Home grown is the screening of soaps from their own country. Wealth and power V class consciousness is an issue in soaps. An example of wealth and power is Mike Bawldin in Coronation Street. He is portrayed as a filthy rich business man. On the otherhand the employees that work for him in his factory are examples of class consciousness. They are of the working class. In my opinion this is wrong because it demonstrates that people of different classes should be treated differently, when really people should be treated with the same amount of respect. Soaps are a form of escapism, as viewers can escape from the real world to the soap world. Soaps provide a vicarious experience, which means that the viewers experience the soap at second hand. The cast experience at first hand. Soap opera producers use romanticism to enchance love affairs, to give the viewer a rose-tinted image of the issue. Usually the characters chosen to have love affairs are beautiful, psycially desirable people. We all know that in the real world this stereotypical image is not always true to life. Soap operas move with the times in all aspects such as decor and design in houses and settings, up to the minute technology, lifestyles and relationships, entertainment and the cultural scene (mores), eg drugs, alcohol abuse. This can have a powerful impact on the viewers who will emulate a particular home or lifestyle. Overall, I think soap operas are enjoyable and fulfilling, but if watched over prolongued periods of time can lead to unhealthy addiction.

Organizational Conflict Essay Example for Free

Organizational Conflict Essay Often when we come across the word conflict, we usually think of more than a simple disagreement. We think of individuals or groups in sharp disagreement over issues, ideas, or interests. This results in an emotional disturbance between the involved parties, with stress developing undesirable behaviors being exhibited. [1] The present diverse workforce characterized by organizational change, competition, and complex communications are drawing attention to interpersonal conflicts among workers. 2] Organizational change for example, alters the status quo and requires members of an organization to work together in new ways and under new rules. Competition compounds issues of power and escalates conflicts of personalities and behavior. The complexities of communication make it more difficult for culturally, economically and socially diverse workers to resolve the issues and problems they encounter on the job. While conflict is inevitable in groups and organizations due to the complexity and interdependence of organizational life, theorists have differed about whether it is harmful or beneficial to organizations. Early organizational theorists suggested that conflict is detrimental to Organizational functioning (Pondy, 1967; Brow, 1983) and focused much of their attention on the causes and resolution of conflict (Schimidt Kochan, 1972; Brett, 1984). More recently, researchers have theorized that conflict is beneficial under some circumstances (Tjosvold, 1991; Van de Vliert De Dreu, 1994). [3] Thus, this paper attempts to present the losses and benefits from conflicts in organizations. I. CONFLICT IN GROUPS AND ORGANIZATIONS A. Definition Generally, conflict is defined as a contest of opposing forces or power. 4] it is a perceived difference between a two or more parties that results in mutual opposition. [5] Looking at conflict in the context of groups, there is what we call an Intergroup Conflict, which can be defined as the behavior that occurs among organizational groups when participants identify with one group and perceive that other groups may block their group’s goal achievement or expectations. [6] Intergroup conflict with in organizations can occur in both horizontal vertical directions. A. 1 Horizontal Conflict. This type of conflict occurs among groups or departments at the same level in the hierarchy, such as between line staff. 7] This is commonly observed between Production Quality Control Departments, Sales Finance Departments, or RD Marketing Departments. A. 2 Vertical Conflict. This arises over issues of control, power, goals, and wages and benefits. [8] A typical source of vertical conflict is between head quarters executives and regional plants or franchises. Status and power differences among groups are often greater for vertical conflict. Part of the reason vertical conflict occurs is to equalize power differences; for example, unions try to give workers more power over wages or working conditions. [9] B. The Nature of Conflict Conflict as related to competition is illustrated by the following figure: The illustration shows how conflict and competition are related. Competition occurs when groups strive for the same goal, have little or no antagonism toward one another, and behave according to rules and procedures. In conflict, on the other hand, one group’s goals jeopardize the others; there is open antagonism among the groups; and few rules and procedures regulate behavior. When this happens, the goals become extremely important, the antagonism increases, rules and procedures are violated, and conflict occurs. 10] C. Causes of Conflict A number of factors contribute to conflict. Several of the most important causes are discussed below. C. 1 Task Interdependence. Task interdependence refers to the dependence of one unit on another for materials, resources, or information. [11] Two types of task interdependence are particularly prone to conflict. One is sequential interdependenc e, in which one individual or work unit is heavily dependent on another. For example, waiters generally are more reliant on cooks than the reverse because waiters must depend on cooks to furnish good meals in timely manner. Line and staff conflicts often arise because staff members frequently are dependent upon the line to implement their ideas. The second form of task interdependence is reciprocal interdependence, in which individuals or work units are mutually interdependent. For instance, purchasing agents want engineers to provide detailed generic specifications so that they can negotiate lower costs from suppliers. At the same time, engineers need to obtain materials of the proper quality on a timely basis, so they may find it more convenient to specify a brand name. 12] Generally, as interdependence increases, the potential for conflict increases. [13] Sequential reciprocal interdependence require employees to spend time coordinating and sharing information. Employees must communicate frequently, and differences in goals or attitudes will surface. Conflict is especially likely to occur when agreement is not reached about the coordination of services to each other. Greater interderdependence means departments often exert pressure for a fast response because departmental work has to wait on other departments. C. 2 Scarce Resources. Another major source of conflict involves competition between groups for what members perceive as limited resources. [14] Possibilities for conflict expand when there are limited resources, such as office space, equipment, training, human resources, operating funds, and pay allocations. In their desire to achieve goals, groups want to increase their resources. This becomes another cause for conflict in groups. C. 3 Goal Incompatibility. Goal incompatibility is probably the greatest cause of intergroup conflict in organizations. The overall goals of an organization are broken down into operative goals that guide each department. The accomplishment of operative goals by one department may block goal accomplishment by other departments and hence, cause conflict. [15] Out of necessity, organization members frequently pursue goals that are somewhat different from one another, setting the stage for potential conflicts. [16] For example, sales personnel may find it easier to battle the competition by promising very quick deliveries, while people in manufacturing may find that small production runs on short notice interfere with their cost cutting efforts. C. 4 Communication Failures. Breakdown in communication due to distortions or lack of communication often lead to conflicts. [17] Conflict in an organization is an indication of the most basic communication failure. Failure to talk with someone. Failure to notify someone of something before it becomes public. Failure to involve someone in a problem-solving process. [18] C. 5 Individual Differences. Differences in personality, experience, and values make frequent conflicts likely. [19] Functional specialization requires people with specific education, skills, attitudes, and time horizons. When an individual who have ability and aptitude in marketing joins the marketing department. Eventually, that individual will be influenced by departmental norms and values, attitudes, and standards of behavior, differ across departments, which is often a source of horizontal conflicts. Cultural differences can be particularly acute in the case of mergers or acquisitions. Employees in the acquired company may have completely different work styles and attitudes, and a â€Å"we against them† attitude can develop. [20] C. 6 Poorly Designed Reward System.

McDonald’s Environmental Issues

McDonald’s Environmental Issues Introduction There is evidence of corporate sustainability, which is a balance of economic, social, and environment as a necessity for business (Dyllick and Hockerts, 2002). Additionally, companies caring about their environmental issue will not only benefit the environment but also the company itself. Consumers show preferences for green products and are willing to pay a premium price thus improve revenues (Peattie, 2001). While dealing with environmental impacts, corporates may find ways to reduce their costs and waste. Reputation could be earned at the same time (Bansal and Roth, 2000). As one of the worlds largest fast food chains, McDonald’s is criticized by environmentalists with many problems. It is vital for McDonald’s to identify its key issues and provide solutions. In this essay, McDonald’s impact on global warming and packaging waste as well as it responses will be discussed. Then, recommendations are drawn. McDonald’s environmental issues The main issue of McDonald’s negative impact on the environment is global warming resulting from greenhouse gas emissions from cows as well as damaging the rainforest for raising beef cattle and grains. For one thing, methane emitted from cattle is a major contributor of global warming. McDonald’s, as one of the world’s largest buyer of beef, is using 350000 cattle a year. With so many cows farting all day, they could produce a considerable amount of greenhouse gas. In the UK for example, 4% of the carbon emissions are the gas emitted by livestock (Day, 2010). For another, McDonald’s is causing the deforestation in the rain forest. McDonald’s often buys meats for its burgers from privatized farms. These privatized farms, however, are being blamed for not environmentally because the farmland they used to rear the cattle used to be a lush rainforest (Ecologist, 2010). In addition, trees in the rainforest are cut down for agricultural to grow grain for the livestock and poultry (Chew, 2001). According to Greenpeace, McDonald’s feed the chickens with the soybeans grown in the Amazon rainforest because those soybeans are cheaper (Astor, 2006). Therefore, McDonald’s is not only responsible for greenhouse gas emissions but destroying forests, which could help to address global warming. Global warming is an important issue for business as it could have negative impact on economies. McDonald’s should care about this because global warming would influence food supply and transportation, which are two main sectors for fast food industry. Regarding food, global warming may affect production of seafood and agricultural. The rising water temperature has damage the coral reef ecosystems, which are homes to many marine species. Loss of shelters is threatening the survival of coral reef fish. Crop production may also decline. For instance, in parts of Africa, growing season for crops is shortening due to the warmer and dryer weather (Grossman, 2013). Farmers may have to abandon their land that are too warm or too dry and invest in new areas. This causes problems of decreasing revenue as well as food productivity. Furthermore, transportations may face an increase in fuel cost because of climate-related policies. Since carbon dioxide emitted from burning oil contributes largely to global warming, governments are imposing taxes to fossil fuel and result in the price to rise (Grossman, 2013). Prices of biofuels are increasing as well due to the decline of crop production. For the society, global warming not only brings about economic impacts but social problems. People would have a greater chance of suffering from drought, floods, and other climate-related disasters (Stern, N., 2008). Thus, may lead to an increasing number of environmental refugees. The mass migrant is likely to trigger conflict with indigenous resident and even conflicts between countries (Hartmann, 2010). Packaging waste is another environmental problem McDonald’s should tackle with. Considering how much waste is created when getting a meal from McDonald’s: a wrapper for burger, a box for fries, a cup for drinks with a lid and a straw, napkins, and a bag for individual use. McDonald’s use tons of unnecessary packing everyday, which end up littering on the street and buried in landfills. Convenience and portability are the main reason for the packaging waste for fast food industry. As people now in busy modern lifestyle prefer easy and quick food, the amount of waste that fast food industry created therefore increased (Aarnio and Hamalainen, 2008). According to a survey in England, 29% of the litter on streets is the wrappers and cups from McDonald’s (Gray, 2009). McDonald’s should take action to reduce its packaging waste since waste generation could cause serious environmental pollution and put human health at rick. Within Europe, 50 million tons of packaging wastes are produce every year. To burn these huge amounts of waste may release some harmful chemicals into the air, which is harmful to people’s health. Landfilling, likewise, could lead to land pollution and kill underground animals that live there. Wastes may also flow to the ocean and become marine debris, harming marine life (Golub, 1996). Additionally, waste generation represents human’s â€Å"inefficient use of natural resources† (Scortar, 2013). 3. McDonald’s responses McDonald’s is alert of these issues and has announced several environmental initiatives to prove that it is trying to solve its environmental impacts. Concerning global warming, McDonald’s make efforts to reducing its impact on deforestation and carbon emission. Firstly McDonald’s promise not to buy soya grown in Amazon rainforest (Greenpeace, 2006). Deforestation for soya farming and cattle ranching in Amazon is one major driver for global warming. Studies have shown the relationship between soya production and deforestation rate in Amazon (Nepstad, Stickler and Almeida, 2006). McDonald’s approach to stop using soya from Amazon could reduce rainforest destruction and help mitigate global warming. To reduce carbon footprint, McDonald’s improves carbon efficiency by using energy-efficient equipment and low-energy lights in its restaurants (McDonald’s, 2013). According to Stern (2008), the mitigation in energy use is important as it has equal effect as agriculture and deforestation in contributing greenhouse gas emission. Moreover, McDonald’s had team up with E-CO2 project, a consultancy and energy auditing company, to measure cattle’s methane emission of its farms. E-CO2 project not only provide carbon assessment tool but also help farms to reduce emissions by using new technology on the farm (Day, 2010). Livestock account for 14.5% of human-caused global greenhouse gas emission. Hence it is critical to cut emission from livestock production. McDonald’s solution to this issue, which is changing farming techniques can be considered appropriate. According to UN Food and Agriculture Organization, the adoption of better techniques can cut as much as 30% of global warming gases (FAO, 2013). In 2014, the fast-food chain took another step to reduce carbon emission, announcing it would start purchase verified sustainable beef. Nevertheless, McDonald’s is criticized for not giving definition for sustainable and not providing what percentage will its meat come from those sources (Picchi, 2014). A more specific standard should be set up on selecting its meat suppliers. To deal with packaging waste issue, McDonald’s redesigned it’s packaging with sustainable materials and to be recyclable. In 2011, McDonald’s claimed that 82% of its packaging are made from renewable materials (Farmer, 2011). In the US restaurants, McDonald’s stop using polystyrene famed coffee cup and replace it with paper-based cups (Environment News Service, 2013). This approach could have positive effect on the marine environment. Foamed polystyrene is frequently used for fast food packaging. This foamed plastic, however, is non-sustainable and is not widely recycled. After littered, they may easily travel through gutters and end up in the ocean. It is the most common components of marine debris. When the polystyrene breaks down into small indigestible pellets, marine animals or birds may mistake them as food and eat them, which would lead to their death (Owens, Zhang, and Mihelcic, 2011). Although paper cups still have its own problems such as energy waste and the chemicals uses during the production, it is a recyclable recourse and will not exist in the environment for such long time as polystyrene does. Besides redesigning packaging, recycling programs are introduced. For example, 11 McDonald’s restaurants in the UK are recycling waste to turn them into electricity instead of sending them to landfills (Eccleston, 2008). Working with the Environmental Defense Fund help McDonald’s find ways to reuse and recycle packaging (Farmer, 2011). However, to reduce waste may be the may be a better solution than simply recycling. Despite that recycling reduces landfill use and conserves natural recourses, the process of recycling could generate other negative effects on the environment. Wastes needed to be sorted, collected and processed and this consumes a lot of energy. During the recycling, harmful chemicals may also release into the air (Berkin, Carrigan and Szmigin, 2007). Recycling may help ease the pollution of waste but mass consumption of unnecessary packaging is the key problem to packaging waste issue. McDonald’s should focus more on reducing the amount of waste i t produce. 4. Recommendations To make sure that it purchases meat from a sustainable resource, McDonald’s could create a code of conduct on how it selecting suppliers. The rules could be not buying beef that are raised on deforested land or acquire its suppliers to agree that they would improve and apply new methods of raising cattle and poultry which could be beneficial in reducing carbon emissions. Take IKEA for example, it set up an IKEA Way of Purchasing Home Furnishing Products (IWAY) which lists many requirements for its suppliers’ environmental behavior such as purchasing wood from forests that are managed in a sustainable way. Choosing suppliers following the IWAY enables IKEA to successfully obtain a sustainable supply chain (IKEA, 2011). By making a code of conduct, McDonald’s could have a clear standard on the requirements its suppliers should meet. Being stricter on choosing suppliers that contribute less to greenhouse gases and deforestation would help McDonald’s lowering its impact on global warming. McDonald’s should also invest in research and support its supplier to adopt other practices that are useful in cutting emission from livestock and pasture since the suppliers have limited financial resource in developing new techniques. Apart from using new technology, carbon sequestration in rangeland, change in cattle’s diet and agroforestry could have long-term benefits in reducing agriculture and livestock’s contribution to global warming. First of all, carbon sequestration in rangeland has great potential in mitigation of the impact of livestock production. This method can be done by planting deep-rooted pasture such as Brachiaria. It is estimated that Brachiaria can capture and store 29.5 t/ha more carbon than other pasture (Thornton and Herrero, 2009). Preventing overgrazing and adding nutrients from manure or fertilizer can also have positive effect on carbon storage (Union of Concerned Scientists, 2011). Diet improvement may further help to mitigate cows ’ methane emission. Reducing methane could be beneficial to the environment because methane is 23 times as powerful as CO2 at causing global warming (Union of Concerned Scientists, 2011). For instance, Beauchemin and McGinn (2005) suggest that a corn-based diet would decrease cattle’s greenhouse gas emission. In addition, adaptation of agroforestry could provide positive to the environment. The increasing of trees enables greater carbon sequestration. Agroforestry can also produce more digestible and nutritive crop and forage for cattle, which decrease methane production digestion (Thornton and Herrero, 2009). If McDonald’s could assist its suppliers in implementing new methods such as carbon sequestration, changing cow’s diet and turning into agroforestry system, it is likely to reduce carbon emissions more efficiently. In order to reduce packaging waste, using reusable containers and giving incentive to customer to provide their own cups may be two options for McDonald’s. McDonald’s can replace some of its packaging such as salad containers and coffee cups with reusable ones because recycling packaging including glass and paper are proved to be less environmental than reusable packaging (Van Dam, 1996). KFC has started using eco-friendly container in its US restaurants since 2010 and plans to replace paper boxes with reusable plastic plates (Environmental Leader, 2010). McDonald’s could also offer discounts to encourage customers to provide their own beverage bottle or coffee cups. For instance, consumers buying coffee in Starbucks will have a ten-cent discount if they bring their own cup. Moreover, Aydinliyim and Pangburn (2012) indicate that such campaign could help companies to increase profit. With the introduction of reusable containers and promotion, McDonald’s is possible to earn more while reducing waste at the same time. 5. Conclusion McDonald’s has been criticized for having bad influences on the environment. To provide meat for its food, McDonald’s indirectly causing deforestation in rainforest and greenhouse gas emission. In addition, McDonald’s use too much unnecessary packaging and many of them are non-recyclable and non-renewable. Thus, it can be concluded that the main environmental issues for McDonald’s are global warming and packaging waste generation. McDonald’s itself is aware of these issues and has made several strategies to solve the problem. By stop purchasing soybean in Amazon, improving carbon efficiency and using new farming techniques, McDonald’s could successfully reduce its impact on global warming. However, McDonald’s still cannot guarantee that its meat all come from sustainable recourse. With regard to packaging waste, McDonald’s redesign packaging with sustainable materials and start recycling programs while neglecting the importance of reducing waste generation. To better tackle with these issues, it is recommended that McDonald’s draw up a code of conduct for its supplier selection to work with farms and ranches that is not harming the forest. Furthermore, McDonald’s should monitor and support supplier to reduce impacts on carbon and methane emission. Practices including carbon sequestration, changing cattle’s diet and agroforestry may be useful. It is also important for McDonald’s to use reusable container and promote customers to bring their own containers by offering them discount to reduce packaging consumption. By doing so, McDonald’s could lower its negative effects on global warming and packaging waste.

Thomson Highways The Rez Sisters Essay -- Thomson Highway Rez Sisters

Thomson Highway's The Rez Sisters Works Cited Not Included The play The Rez Sisters is written by one of Canada's most celebrated playwrights, Tomson Highway. Highway was born in 1951 in northwestern Manitoba. He went on to study at the University of Manitoba and graduated from the University of Western Ontario, with honors in Music and English. Native Literature is inspired by 'contemporary social problems facing native Canadians today; alcohol and drug abuse, suicide, wife battering, family violence, the racism of the justice system, loneliness, rejection, youth awareness, as well as modern-day environmental issues.';(P. 172 Native Literature in Canada.) Highway once said, 'We grew up with myths. They're the core of our identity as people.';(P. 172 Native Literature in Canada.) I am going to focus on the image and identity of Native people as seen through the play The Rez Sisters. Identity is 'how you view yourself and your life.'; (p. 12 Knots in a String.) Your identity helps you determine where you think you fit in, in your life. It is 'a rich complexity of images, ideas and associations.';(p. 12 Knots in a String.) It is given that as we go through our lives and encounter different experiences our identity of yourselves and where we belong may change. As this happens we may gain or relinquish new values and from this identity and image our influenced. 'A bad self-image and low self-esteem may form part of identity?but often the cause is not a loss of identity itself so much as a loss of belonging.'; Social psychologists suggest that identity is closely related to our culture. Native people today have been faced with this challenge against their identity as they are increasingly faced with a non-native society. I will prove that the play The Rez Sisters showed this loss of identity and loss of belonging. When a native person leaves the reservation to go and start a new life in a city they are forced to adapt to a lifestyle they are not accustomed to. They do not feel as though they fit in or belong to any particular culture. They are faced with extreme racism and stereotypes from other people in the nonreservational society. 'The Rez Sisters won the Dora Mavor Moore award for the best play in 1986-87 and later went on to earn extravagant praise at the Edinburgh Festival.'; (P. 172 Native Literature in Canada.) The play is full of comedy, trag... ...rs, '?was one of the most toughing exuberant, cleverly crafted and utterly entrancing plays?';(Cover The Rez Sisters.) Tomson Highway did a great job at giving the reader an idea of what reserve life is about. He gave us the opportunity to experience the hardships of native people and some insight to how they form their identity.   Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After reading this wonderfully written play I do believe that our culture plays a very important role in how we as people form our identity and determines where we feel we belong. Nanabush had a great deal to do with the women keeping their current identities and since of belonging. I feel that if we believe in a spirit and surrender or lives to them they will take care of us just as Nanabush did in this play. We all need to belong somewhere and feel comfort in our lives. We as human beings need to open our eyes and see we can all belong together and live in one society without dropping our culture but before this can happen we need to end racism and stereotyping. These are the two main factors that push people, more commonly native people, into the loss of belonging the loss of their culture and the loss of the core of their identity.

Photosensitive Epilepsy :: Biology Essays Research Papers

Photosensitive Epilepsy A 17-year-old girl falls to the floor. She was playing the video game Dark Warrior. Her father, who is a video game repairman, fears that she has been electrocuted. The girl has fanatically played one game after another for years, and nothing like this has happened before. She is rushed to the hospital where doctors determine that she has had an epileptic seizure. An unusual bright flashing sequence in the game seems to have set her off (1) . Two 13-year-old girls are playing Super Mario Brothers. When the pace of the action picks up in the third straight hour of their play, one girl starts to shake and, for three minutes, has nonstop epileptic seizures (1) . Six hundred eighty five Japanese people ranging in age from five to fifty-eight suffer spasms, convulsions, vertigo, and breathing difficulty while watching a colorful cartoon program. Doctors determine that most were suffering from epileptic seizures induced by a flashing white light sequence during the show (2) . In the United States, there are close to one million people with epilepsy-- about 1 in 200 people around the world have epilepsy. For most of those people, video game playing and watching television are not a risky activities. The flashing patterns of certain games and television shows trigger epileptic seizures in only 5% of epileptics (1) . Photosensitive epileptics have with a peak age of onset of 10-14 years, are mostly woman, and experience a decline in the photosensitivity after 25 years of age (3) . In normal brain function millions of tiny electrical charges pass from nerve cells in the brain to all parts of the body. In patients with epilepsy, this normal pattern is interrupted sometimes by sudden and unusually intense bursts of electrical energy, which may briefly affect a person's consciousness, bodily movements, or sensation (4) . During a seizure, nerve cells in the brain fire electrical impulses at a rate of up to four times higher than normal. This causes a sort of electrical storm in the brain (5) . A pattern of repeated seizures is referred to as epilepsy (4) . Seizures cause different physical effects depending on which parts of the brain are involved and how far the signals fan out. Some people have violent seizures that knock them to the floor unconscious and twitching. Others experience less severe seizures that may only blank them out for a few seconds or more.

To His Coy Mistress by Andrew Marvell and Our Love Now by Martyn Essay

To His Coy Mistress by Andrew Marvell and Our Love Now by Martyn Lowery both see men trying to use methods of persuasion to get what they want. How successful are they? I have recently studied ‘To His Coy Mistress’ by Andrew Marvell, written in the 17th Century and ‘Our Love Now’ by Martyn Lowery, written in the 19th century. Attitudes to love have changed a lot since the 17th Century. When ‘To His Coy Mistress’ was written, men were in charge of the relationship. It would take a lot longer for this relationship to progress than it would today. The man would court the woman for months before anything progressed. He would write her letters and poems, and then eventually, if he loved her, he would ask her to marry him. They would not make love until they were married, as sex outside of marriage was frowned upon. However, today a relationship before marriage can be any length of time and there is no one in charge of it as men and women are more equal in today’s society. ‘To His Coy Mistress’ is a poem about a man trying to persuade a shy woman to have sex with him. In the first section he romances her, convinces her that he respects her, tells her she is beautiful and how he adores her. In the second section he scares her. He says that life is short and all they have to look forward to is death. In the third part he persuades the woman by telling her that she should make the most of time and to speed it up, not waste it. ‘Our Love Now’ is a poem about a man trying to persuade a woman that they should persevere with their relationship. He uses metaphors as a key method of persuasion. However we have the woman’s reply, and she clearly does not feel the same way, she thinks their relationship is over. Ev... ... very strong, consistent argument, allowing no time for the woman to sort out in her own head, her feelings for him. The way the argument is constructed implies he is forcing her to have sexual relations. He does not give her a choice, but uses his power over her to get his own way. I think he almost bullies her into making love to him as he never stops bombarding her with his opinions. In ‘To His Coy Mistress’ the poet uses a variety of methods. The way the poem is constructed makes it sound as if it is written flippantly, but the reader can see through him. I don’t think the woman would see this as it is covered by clever examples. However, after studying the poem you can see this. He makes her feel secure, makes her think he loves her and tells her what he wants yet does not put it so bluntly that in undermines his otherwise very successful persuasions.

The Birth of Rock N’ Roll – a Case of Racial Conflict

THE BIRTH OF ROCK n’ ROLL – A CASE OF RACIAL CONFLICT The term rock ‘n’ roll has been traced back as far as the 1920s in black music, but it became an accepted when disc jockey Alan Freed began used it to describe the character of the rhythm and blues he played on his radio program in the mid-‘50s. The term â€Å"Rockin' and Rollin† were originally used as slang for sex, in black pop music. However, it went on to become the name for a new, salacious musical genre.Innovation in audio technology, new instruments, fresh talent, business savvy record producers, and a young population of new consumers created by post-war economic prosperity helped turn â€Å"race music† into â€Å"rock and roll†. The roots of Rock & Roll can be traced back to rhythm and blues and country rock. We must note the political context of the rock n' roll movement before delving deeper into the recesses of the genre.Black people were beginning to identify and assert themselves racially supported by a series of Supreme Court judgments in favour of integration and the Black community in general Rock n' roll became a symbol of Black empowerment to the Whites, especially to the segregationists who were accustomed to and valued a separation of the races, but were now legally forced to operate against those segregationist values. The resistance to rock n' roll music, highly enjoyed by young White kids, was a culmination of all the hostility and tension of the Civil Rights movement.There was a certain White resistance to such music in the form of The Ku Klux Klan and other White-supremacist organizations that openly preached the exaggerated consequences of listening to rock n' roll music. The term â€Å"jungle music† was used to describe the rock n' roll beat, declaring it would cause the White youth to lose their sense of humanity and dignity while mixing races. This kind of resistance to the rock n' roll movement often came to physical assaults on Black performers. There have been reports of assaults such as the one on Nat King Cole, arguably one of the most docile African American performers of the time.While performing at a Whites-only venue, a mob rushed the stage and beat him. Nat King Cole not only suffered the bruising from the White audience who ambushed him, but also a tongue lashing from Black activists who reprimanded him for not demanding integrated venues. The conflicts of rock n' roll music are direct reflections of both the institutional resistances of Whites to integration and the widespread exploitations of Blacks across the country in many industries. The post-war economic boom ushered in a new era in radio broadcasting.With greater competition, national radio networks gave way to a horde of new independent, locally based stations hosting a variety of entertainment programs. White radio producers would hide Black performers from White audiences. They would often choose a tune with potential from a Black artist, and have a White singer perform the song without the provocative dancing or emotive moaning of the original version. This proved to be a multiple win for the Whites as the Black artist would be kept away from the spotlight, the White producer was making the money, and White kids were idolizing the White singer.It is widely believed that iconic artists like Pat Boone, Elvis and Georgia Gibbs began by assisting in the exploitation of Black artists who were replaced by more-polished, White impersonators. Many observers suggest that rock n' roll would never have been so controversial had it not been for the sexual revolutions and conflicts going on throughout the mid 1900s. The rock n' roll revolution coincided with the institutional revolution of acknowledging youth sex. Rock n’ roll music often ended up portraying sex as a new, fun activity, something that normally happens when young people fall in love.The older generations were quite averse to such music and u sed many tactics to resist the trend. Magazine campaigning became very popular among the older generations; parental guides and â€Å"girl talks† were printed to show that people still valued pre-marital abstinence. The situation eventually escalated into full censorship, until disc jockeys and music hall owners refused to play Black records in general. There were petitions and requests for radio stations to not play sexually-explicit lyrics, but the response was relatively weak. The truth is that the White artists, who impersonated the Blacks, saved the movement.They cleaned up the sound and look of rock n' roll, until White parents would accept it. Parents did not want their sons and daughters listening to wild rocker Little Richard Penniman, but would let them listen to Pat Boone. Soon, White faces like Elvis Presley and Jerry Lewis were reintroducing the sexuality of rock n' roll music and launched it into mainstream legend. Black popular music—everything from jazz and blues to boogie-woogie and rhythm and blues—stood at odds to the white pop songs and artists that epitomized post-world war conservatism. By comparison, rock n’ roll was raunchy, unrestrained, rowdy, and even evolutionary. That which was categorized by the record industry as â€Å"race music† stood as a powerful cultural alternative to the tight-lipped, conformist values. Black Rock n' Roll music also reflected major social and cultural changes brought on by post war urbanization, including youthful rebellion. By contrast, white pop music had ignored or watered down these transformations. American youth, inspired by nonconformist icons like James Dean, Marlon Brando, and Natalie Wood, naturally gravitated toward the more edgy black tunes which they felt spoke of their frustrations.These young whites made black music their own by learning the dances, memorizing the slang, and copying the cool swagger of African-American boogie-woogie and rhythm and blues art ists. They claimed as their own a genre scorned by most whites born before World War II. Thus, Rock n' Roll was indeed reflective of the Civil Rights movement. It stirred up a whole generation and shows that a culture conflict usually always has a deeper context to be found.

Michael Porter Theory Essay

Literature Review on What Is Strategy BY khem123 Introduction: Strategy and management is one of the prominent and most discussed topic in the organization and business studies. Organizations today are challenged by many factors both internal and external and need to effectively address such, which makes only possible by the organization effective leader and their strategic view to overcome and take their company into profitable, competitive, innovative and change. Further, the shift of organization from being local onto global and so the factors of ross-cultural, internationalization cross-disciplinary knowledge of geo-economy, politics, business, market, volatile competition, wide range of customer, and other globalization factors brings further complexity and encounters, hence urgency of more robust leadership, strategy and creative approaches is at forefront than anytime in the history; to struggle and compete this dynamic challenges. In the Michael Porter (1996) literature What is strategy; one of the concept of the organization strategy can be understood as being â€Å"different† from the competitors nd so with the different end outcome and added value to the organization as a long- term advantages. It means that, an industry or organization could be operated in a different way than it’s competitor, which will allow to achieve long-term value creation. In other words; strategy can be understood as, what are the organization unique positions in order to achieve organizational effectiveness, and competitive advantages at the end of the day. The author argues that; strategy can significantly be divided in a wider way of doing things. As a competitive way of thinking, industry has its own-target area and ways of doing the business, for example; defined vision and goals, particular business activities, objectives, niche customer, differentiated product or service, market segments, key technological drivers, different approach on marketing, and so forth. Also each company has its own rivals, key market presences and targeted economic outcome. However, every company is seeking for the unique ideas and plans to stay in the market for the longer period, to achieve strong conomy and become one of the competitive in its industry frame. This will help to achieve greater value to the industry. The basic notion of the strategy here is; it is a set of systematically planned actions that takes time out for a particular purpose on, how companies are going to be unique, achieve competitive advantages and sustain over longer span of time. This is the core essence of organization strategy. Strategy in relation to operational effectiveness; it is important to be stay ahead from the competitor and aggressively gain the efficiencies. However; competitor may act uickly with such manner to stay long term in the market. An organization may have chosen different area to stay in frontier from the rivals and putting more effort and superior performance to achieve goals. Such as deliver value to customers, comparable value at lower cost, creating activities to produce, sell and deliver of product and service, training employees, calling to customer, assembling final products etc. ; hence, the value created by these activities will help organization to lead than the rivals, and so company can performance better than its counter

Answer to Chapter 1 Introduction to Derivatives & Risk Management, Chance, Brooks.

CHAPTER 1: INTRODUCTION END-OF-CHAPTER QUESTIONS AND PROBLEMS 1. (Market Efficiency and Theoretical Fair Value) An efficient market is one in which prices reflect the true economic values of the assets trading therein. In efficient markets, no one can earn returns that are more than commensurate with the level of risk. Efficient markets are characterized by low transaction costs and by the rapid rate at which new information is incorporated into prices. 2. (Arbitrage and the Law of One Price) Arbitrage is a type of investment transaction that seeks to profit when identical goods are priced differently. Buying an item at one price and immediately selling it at another is a type of arbitrage. Because of the combined activities of arbitrageurs, identical goods, primarily financial assets, cannot sell for different prices for long. This is the law of one price. Arbitrage helps make our markets efficient by assuring that prices are in line with what they are supposed to be. In short, we cannot get something for nothing. A situation involving two identical goods or portfolios that are not priced equivalently would be exploited by arbitrageurs until their prices were equal. The â€Å"one price† that an asset must be is called the â€Å"theoretical fair value. † 3. (Arbitrage and the Law of One Price) The law of one price is violated if the same good is selling at different prices. On the surface it may appear as if that is the case; however, it is important to look beneath the surface to determine if the goods are identical. Part of the cost of the good is convenience and customer service. Some consumers might be willing to pay more because the dealer is located in a more desirable section of town. Also, the higher priced dealer may have a better reputation for service and customer satisfaction. Buyers may be willing to pay more if they feel that the premium they pay helps assure them that they are getting a fair deal. It is important to note that many goods are indeed identical and, if so, they should sell at the same price, but the Law of One Price is not violated if the price differential accounts for some economic value. 4. (The Storage Mechanism) Storage is simply holding the asset. Some assets, like commodities, require considerable storage space and entail significant storage costs. Others, like stocks and bonds, do not consume much space but, as we shall see later, do incur costs. Storage enables us to more adequately meet our consumption needs and, thus, provides for a more efficient alteration of our consumption patterns across time. For example, we can store grains for the winter. In the case of stocks and bonds, we can store them and sell them later. The proceeds from the sale of the securities can be used to meet consumption needs at the later time. Likewise, storage enables speculators to hold goods and securities in the hope of selling them later at a profit. In addition, storage plays an important role in defining the relationship between spot instruments and derivatives. 5. (Delivery and Settlement) In futures markets, delivery seldom occurs. Since delivery is always possible, however, an expiring futures contract will be priced like the spot instrument. The knowledge that futures prices will eventually converge to spot prices is important to the pricing of futures contracts. 6. The Role of Derivative Markets) Derivative markets provide a means of adjusting the risk of spot market investments to a more acceptable level and identifying the consensus market beliefs. They make trading easier and less costly and spot markets more efficient. These markets also provide a means of speculating. 7. (Criticisms of Derivatives Markets) On the surface, it may be difficult to distinguish speculation from gambling. Both entail high risk w ith the expectation of high gain. The major difference that makes speculation somewhat more socially acceptable is that it offers benefits to society not conveyed by gambling. For example, speculators are necessary to assume the risk not wanted by others. In gambling, there is no risk being hedged. Gamblers simply accept risk without there being a concomitant reduction in someone else's risk. 8. (Misuses of Derivatives) Derivatives can be misused by speculating when one should be hedging, by not having acquired the requisite knowledge to use them properly by acting irresponsibly when using derivatives such as by being overly confident of one’s ability to forecast the direction of the market. 9. The Role of Derivative Markets) The existence of derivative markets in the United States economy and indeed throughout most modern countries of the world undoubtedly leads to a much higher degree of market efficiency. Derivatives facilitate the activities of individual arbitrageurs so that unequal prices of identical goods are arbitraged until they are equal. Because of the large number of arbitrageurs, this is a quick and efficient process. Arbitrage on this large a scale makes markets less capable of being manipulated, less costly to trade in, and therefore more attractive to investors. The opportunity to hedge also makes the markets more attractive to investors in managing risk. ) This is not to say that an economy without derivative markets would be inefficient, but it would not have the advantage of this arbitrage on a large scale. It is important to note that the derivative markets do not necessarily make the U. S. or world economy any larger or wealthier. The basic wealth, expected returns, and risks of the economy would be about the same without these markets. Derivatives simply create lower cost opportunities for investors to align their risks at more satisfactory levels. This may not necessarily make them wealthier, but to the extent that it makes them more satisfied with their positions, it serves a valuable purpose. 10. (Return and Risk) Return is the numerical measure of investment performance. There are two main measures of return, dollar return and percentage return. Dollar return measures investment performance as total dollar profit or loss. For example, the dollar return for stocks is the dollar profit from the change in stock price plus any cash dividends paid. It represents the absolute performance. Percentage return measures investment performance per dollar invested. It represents the percentage increase in the investor’s wealth that results from making the investment. In the case of stocks, the return is the percentage change in price plus the dividend yield. The concept of return also applies to options, but, as we shall see later, the definition of the return on a futures or forward contract is somewhat unclear. 1. (Repurchase Agreements) A repurchase agreement (known as repos) is a legal contract between a seller and a buyer, the seller agrees to sell a specified asset to the buyer currently as well as buy it back usually at a specified time in the future at an agreed future price. The seller is effectively borrowing money from the buyer at an implied interest rate. Typically, repos involve low risk secur ities, such as U. S. Treasury bills. Repos are useful because they provide a great deal of flexibility to both the borrower and lender. Derivatives traders often need to be able to borrow and lend money in the most cost-effective manner possible. Repos are often a very low cost way of borrowing money, particularly if the firm holds government securities. Repos are a way to earn interest on short-term funds with minimal risk (for buyers) and repos are a way to borrow for short-term needs at a relatively low cost (for sellers). 12. (Derivative Markets and Instruments) An option is a contract between two parties—a buyer and a seller—that gives the buyer the right, but not the obligation, to purchase or sell something at a later date at a price agreed upon today. The option buyer pays the seller a sum of money called the price or premium. The option seller stands ready to sell or buy according to the contract terms if and when the buyer so desires. An option to buy something is referred to as a call; an option to sell something is called a put. A forward contract is a contract between two parties—a buyer and a seller—to purchase or sell something at a later date at a price agreed upon today. A forward contract sounds a lot like an option, but an option carries the right, not the obligation, to go through with the transaction. If the price of the underlying good changes, the option holder may decide to forgo buying or selling at the fixed price. On the other hand, the two parties in a forward contract incur the obligation to ultimately buy and sell the good. 13. (The Underlying Asset) Because all derivatives are based on the random performance of something, the word â€Å"derivative† is appropriate. The derivative derives its value from the performance of something else. That â€Å"something else† is often referred to as the underlying asset. The term underlying asset, however, is somewhat confusing and misleading. For instance, the underlying asset might be a stock, bond, currency, or commodity, all of which are assets. However, the underlying â€Å"asset† might also be some other random element such as the weather, which is not an asset. It might even be another derivative, such as a futures contract or an option.