Female Management Roles in Construction

Female Management Roles in Construction The subject introduced in this article is about the disregard of ladies in doing corporate jobs in spite of their instruction in the specialized topics. Despite the fact that there has been governmental policy regarding minorities in society and equivalent open door inserted in the methodology of corporate enrollment, the requirements of the lady structural specialist has not been completely met. It has been hard for the ladies to get to the top most administration positions. The absence of enough instruction, preparing just as understanding previously, to some point, clarified the issues ladies experienced in landing the executives positions. These days, an enormous and to be sure an expanding level of ladies in UK are too equipped as any man. This has prompted a superior sex portion of employments, however word related detachment has stayed a main issue. Despite the fact that more ladies currently are in the executives positions, they will in general be packed at lower the executiv es levels and in less significant regions. In all cases, however, their way in to top administrative occupations has ever been seriously confined. In addition, instructive frameworks, the broad communications just as the enlistment and strategies of advancement have routinely regulated specific sexual orientation inclinations and unwittingly keep on affecting oppressive practices with according to ladies. Governments, ventures along with associations, have from the time in the past investigated methods of destroying separation as depicted in this article ensuring that there is sex correspondence. Maybe the best snag is still how to make the structures inside associations increasingly touchy to sex equity ideas and practice. All specialists and businesses affiliations have a transcendently significant task to carry out in propelling working environment change in perspectives just as practices to advance sex balance all around and to distinguish and urge clear methodologies to empower ladies to get to more elevated levels of the board and advancement this unreasonable impediment. This article clarifies the predicament of the lady and wants that the ladies should be agreed rights which are equivalent to those of male partners. The point here is that there ought to be no injustice, yet in addition that ladies should have the option to enjoy every one of their privileges, which requests th e ID along with the disposal of hindrances other than the ones of a lawful sort. It is here talked about that ladies are qualified for the satisfaction of every single human right, including those appropriate to monetary advancement along with assets. The nonattendance of equivalent right of section to assets and the open doors speaks to an invalidation of all inclusive human rights, in this manner making impediments to decency among ladies and men that carry on womens financial imbalance and furthermore neediness. Equivalent treatment ladies as demonstrated in this article in monetary and public activity is accordingly a precondition for the full accomplishment of these rights. What's more, association culture recommends that the idea of the workplace particularly in the development area looked by ladies who seek to the board positions decides their destiny more than their own characteristics, abilities and practices. Conduct twofold ties, correspondence and initiative styles, old kid systems, hypocrisy, and contrasting male and female perspectives toward power are other social and social clarifications. Its without a doubt that noteworthy advancement has been accomplished in boosting ladies introduction into callings and administrative occupations over late years. In the UK, the quantity of ladies in the official administration positions is generally low contrasted with their capabilities. They included an extremely modest number of officials in the reviewed associations in this article. All through, the article is in quest for uniformity in the administration to be appeared in the female structural architects of UK. It looks to invalidate the thought that polished methodology is an idea overwhelmed by men. The work in the development business is hearty on occasion and will at call upon those in the board to effectively take an interest in it. Entering a male ruled work environment is to some degree awkward to the full move that can be made by the lady in doing her errands as a chief. There could be sexual jokes and a language that the lady couldn't endure. The setting of a structural designing activity depicts a great deal of rawness and the setting in that could influence ladies as they may feel awkward. The portrayal of ladies in the field of structural designing is poor particularly at the senior degrees of the executives. The structure and association of the structural building firms appear to have a great deal of issues for the female sex. Technique and Participant profile The article utilized subjective exploration by embracing an ethnographic way to deal with information assortment, with interviews which were semi-organized as the fundamental technique. The principle thought to be investigated here was to set up the experience of ladies development engineers in their calling. This subjective exploration runs contrary to the natural order of things of utilizing numerical information to acquire results. The methodology utilized in this article has sorted out account or words to find subjects and connections in a non-numerical way. Subjective information is what isn't effectively quantifiable and it isn't totally objective yet may require judgment and understanding. The scientist has additionally assumed a significant job in the investigation accidentally by deciphering the outcomes; despite the fact that as the examination information examination of the outcomes this paper was finished by getting reference to numerous different sources and subsequently , it is felt this expanded the thoroughness and legitimacy of this subjective work. The ethnographic way to deal with this work is generally proper as the two arrangements of members (ladies in plan and building locales) are for the most part individuals. This implies general examples of encounters in the work are perfect with the exception of in various or uncommon settings. All through the investigation defense is given for activities. Answers for questions which the scientist may have asked are addressed giving this exploration meticulousness and legitimacy. Nonetheless if being exceptionally basic, one could specify this is certifiably not a legitimate time scale and accordingly could be a shortcoming moreover. The articles point is to distinguish how much the ladies in structural designing and developments have been consolidated in the administration level in the business. Data for this exploration was accumulated utilizing an ethnographic methodology. To do this perception in addition to definite field notes were taken. In this phase of the exploration article, (the theoretical) the data is shallow yet gives an enthusiasm to keep perusing. This subjective analyst mixes and montages to frame another thorough creation or another important entire out of particular pieces of what the scientist is examining or at the end of the day out of the real world. The scientist therefore can be portrayed as a blanket producer; a blanket creator who utilizes a muti-technique way to deal with make a complex, and more extravagant investigation of the issues influencing ladies structural specialists in UK. Thus it has no basic definition, for it is never only a certain something. It obviously endeavors to c haracterize social examinations. From that point forward, some scholastic and disciplinary protections from subjective exploration are considered and followed by a conversation of the significant contrasts in research styles among subjective and quantitative methodologies. To sum things up, subjective methodology underscores esteem, ethnographic exposition, rich depictions, responding to the how question On the other hand, the quantitative methodology underlines estimations, esteem free, investigation of connections, objective, observational strategies, unoriginal third individual composition The historical backdrop of subjective examination is summed up in a few times. In every one of these periods, the analysts have been impacted by their political expectations and philosophies, finding discoveries in their examination that affirmed earlier speculations or convictions. Subjective exploration in any case concentrated on the goal, the standards, and the old style ethnography. Later on the innovator stage known by the brilliant age followed. The subsequent time focused on the investigation of the subjective materials in normalized measurable structures. The obscured kinds offered route to an increasingly pluralistic, open finished point of view. The log ical type of the brilliant age finished on the entryway steps of a wide scope of ideal models, and methods of gathering and breaking down observational materials. The fourth second or the emergency of portrayal in the mid-1980s was the aftereffect of the obscured types. The scientist in the article here addressed models of truth, strategies, and portrayals in setting up the predicament of ladies structural designers. Recognizable proof and Discussion of Strength and Weaknesses The test that has been there for some ladies in the structural building field has been that of adjusting the work and no-work jobs. This has been an extraordinary weight at home and furthermore at the work environment which may not so much be the situation with men. In spite of the fact that the segregation from the social and association is difficult to break, now and again it is ladies themselves who are hesitant to venture out break the roof which begin from their psyche. In addition, dedicated is the major weapon that drives each individual to the method of progress. There are no any stunts or procedures to break this divider that has been set before them. Each effective lady just demonstrates their ability with enormous exertion. To counter such factors, a jointed exertion is basic on all levels by a wide range of associations and foundations. As found in this article, the current enemy of separation enactment and equivalent open door activities accept that equity will be accomplished if associations treat ladies equivalent to men. The methodology draws essentially on liberal, similarity idea of correspondence where equivalence is decided against a unitary standard of male attributes and conduct. This is dangerous in light of the fact that it disregards womens relationship to the private circle.

Energy Self-Sufficiency in Building through Photovoltaic Cells Essays

Vitality Self-Sufficiency in Building through Photovoltaic Cells Theoretical Sun powered vitality is an approach to procure independence of numerous private structures. The unique types of sun powered cells produced using various materials and in various manners can build the proficiency of the sun oriented cells and permit sun based vitality to turn out to be increasingly across the board. Due to the probability of a deficiency of non-renewable energy sources sooner rather than later, sun based force can fill in as an essential segment in comprehending the vitality emergency through creating vitality independent structures. Notwithstanding, in the wake of investigating numerous previously distributed materials, the chance of permitting the world's structures to become independent is absurd except if other sun powered cells become reasonable for the overall population and progressively effective. Presentation The world is entering a vitality emergency that will require the requirement for new vitality sources. Some anticipate that at the present pace of utilization, the prevailing vitality source, petroleum products, will exhaust constantly 2050 (EcoSystems 2005). Starting at 2001, the world expended 426.1 billion gigajoules; the United States expended 102.1 billion gigajoules that equivalent year, the most vitality utilization in a solitary nation (see Table 1). Of the vitality expended in the United States, just 0.063% was sunlight based force (Energy Information Administration 2001). In any case, sun oriented vitality has extraordinary potential. The sun emanates through the earth’s climate enough vitality in one hour to control the earth for over a year (Solarbuzz 2004). Also, sun based gatherers can outfit this vitality in a clean and ecologically sheltered technique. Numerous authorities utilize photovoltaic cells, gadgets dependent on the photovoltaic impact, in which sun oriented vitality changes to electri... ...Exploration News. Recovered 7/29/05 from http://www.lbl.gov/Science- Articles/Archive/MSD-full-range sun oriented cell.html Sandia Labs Working on Solar Power Farm (November 2004), Deseret News Publishing Organization, Retrieved 8/2/05 from http://deseretnews.com/dn/see/0,1249,595107883,00.html Scheer, H., A Solar Manifesto, UK: Cromwell Press, 1993 Photovoltaic Cells 16 Sun oriented Cell. (2005). Wikipedia †The Free Encyclopedia. Recovered 7/28/05 from http://en.wikipedia.org/wiki/Solar_cell Sun oriented Energy Costs/Prices (2005). Solarbuzz. Recovered 7/29/05 from http://www.solarbuzz.com/StatsCosts.htm World Energy Consumption and Carbon Dioxide Emissions, 1990-2025 (2005). Infoplease. Recovered 7/28/05 from http://www.infoplease.com/ipa/A0776146.html Walker, E. (2004). Sun oriented Cell Principles and Applications. Recovered 7/29/05 from http://reslab.com.au/resfiles/pv/text.html

International Business (CH2, CH3, and Movie 'GUNG HO) Review

Universal Business (CH2, CH3, and 'GUNG HO) - Movie Review Example The subsequent ramifications is that casual institutional systems give some structure to an association where formal foundations are not obvious or where the conventional establishments have fizzled. Supervisors ought to continually know about both formal and casual institutional systems that impact their representatives. This will permit the directors to figure out how to the system and change with liquid plans if the structures separate. It will likewise permit the chiefs to more readily foresee the practices and activities of their groups. Area 2: (40 Points) For this task you will be required to find and watch the film Gung Ho and afterward apply the ideas that were examined in Chapter 3 of the course book by addressing the inquiries delineated underneath. The film is about an unassuming community that has consistently depended on assembling for its vocation. The two processing plants have shut down, the administration organizations are moving out of the town, and most of grown-ups are jobless. Chase Stevenson requests a Japanese organization to revive the processing plant. The film recounts to the account of the difficulties the Japanese officials, representatives, and townspeople experienced during and after the reviving. This is applicable to the ideas of worldwide business today since headways in innovation, travel, and joint effort obscure the lines that different nations. Worldwide cooperations are a regular, ordinary event for some organizations. Understanding the various societies with which one will be working is basic to keep up connections and smooth creation. b. Diagram the social contrasts that exist between the Japanese supervisory crew and their US Workers? Explicitly address every one of the accompanying contrasts by portraying models from the film. (16 Points) Community concentrates all individuals from the group on a solitary reason as a solitary unit. This was obvious from the main day of the production line

Proposal for Reparations of African Americans Essay

Because of the way that numerous African-Americans can't follow their family history back multiple ages, It would be incredibly hard to recognize the individuals who are slipped from Freemen and those plunged from Slaves. Along these lines, despite the fact that it ought to have some effect on reparations, we should consider the individuals who can't follow their lineage( around 3/fourth of African-Americans). We additionally should recall that fundamentally, no African-Americans were totally free. Numerous blacks, Freeman and Slaves the same were lynched, erroneously detained, assaulted, killed, and subject to sub-human treatment. It is practically difficult to gauge the monetary hardship brought about by servitude and the outcome that followed. Right up 'til the present time the African-American family despite everything experiences the outcome of subjugation. We see it as Poverty, under-training, Discrimination, and Black on Black wrongdoing. Consider that Blacks are earnestly under-spoke to in a large number of our countries top fields. Under .05 percent of African-Americans are CEO’s in corporate America. Blacks are likewise an irregularity in Law, Medicine, and advanced education, What follows is my estimation of the reparations required. first era relative of slave: 500,000 of Freeman: 350,000 second era relative of slave: 350,000 of Freeman: 225,000 third era relative of slave: 225,000 of Freeman: 180,000 fourth era relative of slave : 180,000 of Freeman: 120,000 fifth era relative of slave: 120,000 of Freeman: 90,000 sixth era relative of slave: 90,000 of Freeman: 60,000 seventh era relative of slave: 60,000 of Freeman: 30,000. Extra Moneys. Relative lynched: 60,000 for every Family part assaulted by slave driver: 20,000 Family part erroneously detained: 6,000 It is imperative to take note of that if it can't be resolved whether a family slipped from Freemen or Slaves, a normal ought to be taken from the two. Additionally, if an age has no living survivors, that cash will not be granted and isn't dependent upon legacy. With respect to Moneys for family menders lynched, assaulted, or dishonestly detained, this must be an immediate consequence of subjugation and most be demonstrated past a dominance of the proof. In this way, each state will select an advisory group of six individuals, at any rate three of them being African-Americans. These advisory groups will be answerable for exploring all cases on an individual premise and granting cash. On the off chance that, for instance, an individual from the third era begins a case and kicks the bucket before the cash are granted than that cash will be dependent upon legacy. The council will have a time of five years to research and grant all funds. If a family needs to advance their honor or need there of, their cases will be coordinated to the State incomparable court. The court will have three years to render choices on all cases. So as to guarantee the money related soundness of the United States, these installments will be made over a time of 15 yrs. Notwithstanding, on account of people who have been granted funds and are beyond 55 years old, they will have the choice of taking a limited singular amount of 40% of the cash owed.

Wheel Works Cycling Company Business. Case Study Essay

Wheel Works Cycling Company Business. Contextual analysis - Essay Example Some different analysts (e.g., Friedlander, (1964) alludes to inspiration as, â€Å"the measure of exertion individuals are eager to place in their work relies upon how much they feel their persuasive needs will be fulfilled. Then again, people become de-spurred on the off chance that they feel something in the association keeps them from achieving great results (Friedlander 1964). It tends to be seen from the above definitions that, inspiration all in all, is pretty much essentially worry with variables or occasions that moves, leads, and drives certain human activity or inaction over a given timeframe given the predominant conditions. Further more the definitions propose that there should be an† imperceptible force† to push individuals to accomplish something consequently. It could likewise be derived from the definition that having an inspired work power or a domain in which significant levels of inspiration are kept up stays a test for today’s the executives. This test may radiate from the straightforward reality that inspiration is anything but a fixed attribute â€as it could change with changes in close to home, mental, budgetary or social components. 1.1 Maslow's Hierarchy of Need Maslow's order of requirements is a five-level progressive need hypothesis of inspiration that indicates that the most minimal level unsatisfied need has the best rousing potential (Greenberg and Baron 2003):. The necessities include: Physiological requirements Security needs Belongingness needs Regard needs Self-completion needs As indicated by Maslow, the most reduced level unsatisfied need class has the best propelling potential. At the point when needs at a specific degree of the chain of command are fulfilled, the individual directs their concentration toward the following more significant level. A fulfilled need is not, at this point a viable help. Self-completion needs, be that as it may, become more grounded as they are satisfied (Greenberg and Baron 2000). At Wheelworks, to fulfill worker's needs following Maslow's principle, the Male Speaker does all faculty determination on staff consolation. Simultaneously parcel of

Slowing Climate Change, One Steak at a Time

Slowing Climate Change, One Steak at a Time This post was written for the final project for 24.03 Good Food: The Ethics and Politics of Food. The assignment was to engage with the topics of the class further by introducing a moral question concerning food choices or food policy through a medium such as a pamphlet, lesson plan, wiki, blog, or webpage. Another option for the project was to  engage in some form of activism around food justice, but writing a blog post seemed like the best option for me. Prospective students, I hope this post gives you an idea of what MIT projects could be like (at least for introductory philosophy classes).   Note: this post was updated on June 21 in light of new information.   _____________ Why Should You Care about Climate Change? If you follow MIT blogs, you likely understand that climate change is real, and  the result of human activity. The evidence is incontrovertible (all sources below). Carbon dioxide levels are higher today than at any time during the past 400,000 years (which included the ice ages), and the rise is clearly associated with fossil-fuel burning. Global sea level rose by 8 inches in just the past century. The average temperature increased by 1.1 °C (2.0 °F), and 16 of the 17 warmest years on record occurred since 2001 (in fact, each of the past few years have broken records for warmest year). The number of extreme weather events has been increasing. Countries in the developing world, those that burn the least fossil fuels, are taking the brunt of the changes. A recent study showed that climate change helped spark the Syrian civil war. Unfortunately, there isnt much time for deliberation on this issue. Scientists point out that we need to reduce gas emissions significantly by 2020 or at lea st 2026 to keep the global temperature increase below  2 °C. What Can You Do about Climate Change? It is certainly tempting to defer climate change solutions to politicians. But, while policies and international agreements matter, grassroots efforts are also essential. In this post, I’d like to talk to you about one lifestyle change that is necessary to slow climate change: promote plant-based foods and curb meat consumption. Cant imagine giving up your main source of protein? I get that, but hear me out. In order to avoid devastating climate change, curbing our hunger for meat is essential. Meat has more of an impact on the environment than any other food we eat, and some scientists believe that reducing meat consumption is the best strategy for combatting climate change. Limiting just one individuals meat consumption could have a significant environmental impact: the average American consumes 270.7 pounds of meat per year! Credit: MarketWatch Why Curb Meat Consumption? Greeenhouse Gas Emissions: Livestock estimated to produce nearly 51%(!) of the world’s greenhouse gases. [editors note: this number was updated; the UNs Food and Agriculture Organization (FAO) 15% estimate was incorrect] In three decades, emissions related to agriculture and food production are likely to account for about half of the world’s available “carbon budget.” Adhering to health guidelines on meat consumption could cut global food-related emissions by nearly a third by 2050, while widespread adoption of a vegetarian diet would bring down emissions by 63% (and a vegan diet by 70%). Cows and sheep are responsible for 37% of the total methane generated by human activity, through their ruminating guts and decomposing waste. Methane has a global warming impact 28-36 times higher than carbon dioxide over a 100 years. Credit: CNN Water Use:   70% of the worlds fresh water is used for agriculture. Almost a third of the total municipal and industrial waste produced every year in the U.S. comes from farms. One dairy farm with 2,500 cows produces as much waste as a city with around 411,000 residents. Land Use:   About 33 million sq. km are currenly used for pasture, which is roughly the area of the Africa! This does not include the land used to provide food for the animals.The pasture area accommodates 20 billion chickens, 1.5 billion cows, over a billion sheep, and nearly a billion pigs. 45% of all land on earth is now estimated to be used for livestock and feed production. For every 10 kilograms of grain we feed cattle, we get 1 kilogram of beef in return. The average US consumer today requires more than 2.5 acres (over two football fields!) of land each year to sustain their current diet. Why Go Vegetarian or Vegan? Vegetarian: Shifting diets away from meat could slash in half per capita greenhouse gas emissions related to eating habits worldwide. It could also ward off additional deforestation. On an individual level, being vegetarian could reduce your risk of chronic preventable conditions like cancer, cardiovascular disease, diabetes, and obesity. Which means you’ll likely live longer. A vegetarian diet costs less for consumers. Vegetarian diets could use up to 0.5 acres less of land per person each year, freeing up more land to feed more people. Changing dietary patterns could save $1 trillion annually by preventing health care costs and lost productivity. That figure goes up to as much as $30 trillion annually when also considering the economic value of lost life. And that doesnt even include the economic benefits of avoiding devastating extreme weather events that could result from climate change. Vegan: Just like a vegetarian diet, a vegan diet is good for both your health and your wallet. Read here for information about vegan meats. It could cut per capita food and land use-related greenhouse gas emissions by 70%. A widespread adoption of the vegan diet could help avoid more than 8 million deaths by 2050. Warning: When applied to an entire global population, the vegan diet wastes available land that could otherwise feed more people. That’s because different kinds of land are used to produce different types of food, and not all diets exploit these land types equally. The vegan diet differs from vegetarian or reduced-meat diets because it uses no perennial cropland at all, and, as a result, would waste the chance to produce a lot of food. What If You Cant Give up Meat? There are plenty of other healthy and environmentally-friendly options for reducing meat consumption! Here are several dietary suggestions, in order of increasing difficulty: Eat Less Processed Foods, More Carbs. Even if you opt into a vegetarian diet, make sure to avoid highly processed foods, including common meat substitutes like tofu and veggie burgers. Eating more bread, pasta and potatoes instead of meat is actually more environmentally friendly. Also check out this article about great meat substitutes. Stop Eating Beef (and Other Red Meat). Beef has more than six times higher greenhouse gas intensity than poultry on a by-serving basis. Cattle are the species responsible for the most emissions, representing about 65% of the livestock sector’s emissions. Reducing heavy red meat consumption â€" primarily beef and lamb â€" would lead to a per capita greenhouse gas emissions reduction of between 15% and 35% by 2050. And, as food-related emissions improve from diets that include less red meat, health improves as well. More than 5 million lives and up to $700 billion in healthcare-related costs would be saved globally if people adopted a healthier diet without red meat. Its healthier and cheaper to increase your fruit and vegetable consumption instead! Credit: Quinola Mothergrain Meet Free Monday (by Paul McCartney). Read more about the benefits of this campaign here.   Vegan Before 6 (VB6). This one is similar to Meat Free Mondays, except the goal is to avoid any meat products before dinnertime. A bit harder for those who like their morning cereal. As motivation, consider that even a 50% cut in meat and dairy intake would cut greenhouse gas emissions by 25-40%, depending on what the freed-up land was used for. Would you consider reducing your meat consumption? Let me know via email or in the comments below! Credit: ASAP Science, YouTube   Sources NASA Global Climate Change, Climate change: How do we know? Welch, Craig. Climate Change Helped Spark Syrian War, Study Says. National Geographic (2015) Gates, Bill. Food is Ripe for Innovation. Mashable (2013) Bittman, Mark. FAO Yields to Meat Industry Pressure on Climate Change. The New York Times (2012) Carrington, Damian. Eating Less Meat Essential to Curb Climate Change, Says Report. The Guardian (2014) Barclay, Eliza. A Nation Of Meat Eaters: See How It All Adds Up. NPR (2012) Harvey, Fiona. Eat less meat to avoid dangerous global warming, scientists say. The Guardian (2016) Upton, John. Farming Now Worse For Climate Than Deforestation. Climate Central (2015) Down with Less Meat, Up with Happy Better Vegan Foods! Chomping Climate Change (2015) Magill, Bobby. Healthy Diet May Reduce Gas; Greenhouse Gas, That Is. Climate Central (2016) Worland, Justin. How a Vegetarian Diet Could Help Save the Planet. TIME (2016) Magill, Bobby. Studies Show Link Between Red Meat and Climate Change. Climate Central (2016) Vaughan, Adam. Halving Meat, Dairy Intake Would Slash Farm Emissions. The Guardian (2014) Purdy, Chase. Being vegan isn’t as good for humanity as you think. Quartz (2016) Milman, Oliver. Carbon Emissions Must Be Cut ‘Significantly’ by 2020, Says UN Report. Our World (United Nations University) (2013) Sutter, John. Why beef is the new SUV. CNN (2015) Helman, Christopher. How Much Electricity Do Your Gadgets Really Use? Forbes (2013) Schweitzer, Liza. Mark Bittmans VB6 Diet. WebMD (2016) Hill, Catey. This chart proves Americans love their meat. MarketWatch (2016) Dechert, Sandy. One Decade Left To Keep Global Warming Below 1.5 °C. Clean Technica (2016) AsapSCIENCE. What If The World Went Vegetarian? YouTube (2016) AsapTHOUGHT. Becoming a Vegetarian for 21 Days. YouTube (2016) Types of Vegetarianism. Vegetarian Nation EPA Overview of Greenhouse Gases, Methane Emissions. Waste Management. GRACE Communications Foundation (2012) Gerber, P.J. et al. 2013. Tackling climate change through livestock â€" A global assessment of emissions and mitigation opportunities. Food and Agriculture Organization of the United Nations (FAO), Rome. Post Tagged #Course 24-1 - Philosophy

Social Surgery in H.G. Wells’ The Island of Dr. Moreau and “Under the Knife” - Literature Essay Samples

H.G. Wells believed intensely in the productive aspects of science and the potential of the human race. At the same time, he was also acutely aware that scientific knowledge placed in the wrong hands could result in evil caused by the darker aspects of humanity. Wells develops a brilliant metaphor in the form of surgery as a way to combine and comment upon the positive and negative divide of scientific advancement in the hands of a brute race. In both The Island of Dr. Moreau and â€Å"Under the Knife† Wells develops his idea that surgery will be necessary in order to attain his hopes for a utopian society.A utopian ideal was for H.G. Wells not a hopelessly unattainable possibility, but he was enough of a pragmatist to realize that it would require some unpleasant social construction. In â€Å"A Modern Utopia† he recognizes the obstacle in the path of a perfect society: â€Å"Then there are persons tainted with certain foul and transmissible diseases. All these people spoil the world for others. They may become parents, and with most of them there is manifestly nothing to be done but to seclude them from the great body of the population† (Wells 142). He offers up a very interesting solution to this problem, what he calls â€Å"social surgery† (Wells 142). He immediately goes on to admit that this kind of extreme social construction could result in disaster were those in charge to be cruel in its execution, but offers a glimpse of his innate optimism by suggesting that a true utopia be governed by benevolent leaders. Wells would return to the metaphor of surgery as a means of cleansing the body politic in both The Island of Dr. Moreau and â€Å"Under the Knife.†Although Wells is often accused of distrusting humanity and holding pessimistic views about the future and its possibilities, both The Island of Dr. Moreau and â€Å"Under the Knife† offer glimpses of hope within Wells that undermine that argument. The problem is that Wells outlook for humanity tends to confuse critics, as in this statement: â€Å"There is no doubt that The Island of Dr. Moreau is a deeply pessimistic book, and its Swiftian view of human nature is not a mere literary exercise (Scheick 28). What Scheick and many other critics fail to realize is that just as Jonathan Swift’s Yahoos are not meant to be strictly equated with human beings, neither are the Beast Men in The Island of Dr. Moreau intended to represent the future of humanity. The whole point of Moreau’s experiments is that they prove that humans aren’t just animals; the spark of the divine exists within them. Wells hopes that the surgical knife could remove the ugliness preventing society from attaining utopian ideals, and he presents this wish in the novel in a unique way. Wells turns the table on his idea of surgical removing imperfection by having Dr. Moreau attempt to create a utopia not by removing the tainted members of society with his kni fe, but rather by attempting to repair and perfect them. By having Moreau fail, Wells succeeds in proving his original contention that those who foul and poison the populace should be removed. While it may be understandable how this idea could be misconstrued as pessimistic and distrustful of humanity, in fact it offers hope that problems can be resolved simply by admitting that human beings aren’t perfect and can be infected; like a cancer, the solution to better health lies simply in cutting them away.H.G. Wells’ conviction that the fate of society could be improved through surgical revolution is rooted in his embrace of the socialist values that view history through the lens of exploitation rather than as a divine plan. The lower class milieu into which Wells was born no doubt shaped his politics, which became more sharply formed after his embrace of socialist ideals. Early in youth Wells became an avid reader, and his education convinced him that, as one critic put s it, Only through revision of the species can the species survive(Reed 124). Revision and surgical application are two motifs evidence in much of Wells’ writing, but especially in The Island of Dr. Moreau and â€Å"Under the Knife.† Interesting, the symbolism of surgery as a means of correcting the ailments of the body politic is approached from two different perspectives, yet each reaches the same conclusion. Dr. Moreau attempts to surgically improve society by lifting the polluted and foul members to a heightened state of being, whereas the surgery in â€Å"Under the Knife† is used to remove the foul and infected part of man. Moreau overextends himself, attempting to usurp the position of God as creator. But man is not God; he cannot upset the balance of nature by improving it. Moreau’s utter failure to accomplish his goals doesn’t just stand as a testament to his non-divine status, but also as a testament to the futility of trying to improve so ciety by changing human nature. Although Wells believed that knowledge was key to the success of socialist ideals, he also recognized that you cannot teach a person who refuses to learn (Reed 124). Survival of the species, therefore, requires not just education, but excision. The character in â€Å"Under the Knife† experiences a euphoric vision of what life could be like at its best, but that ideal can be attained only after the foul disease is eradicated.The actions of the character Prendick are another indication that Wells is not offering a pessimistic view of humanity in The Island of Dr. Moreau, but is rather holding out a ray of hope that all is not lost. The character in â€Å"Under the Knife† ponders the possibility that the higher qualities of humanity evolved from baser animal instinct and the question of what would be left if these higher qualities were removed (Wells 108). The answer can be found on Dr. Moreau’s island. Prendick comes into contact wi th creatures whose evolution has been surgically applied. The fit is not a good one, however; it lacks a natural bonding agent. While Dr. Moreau can graft animal to man, the psychic divide still exists. As a result, those higher qualities are capable of being removed, with the result being the return to bestial nature that Prendick witnesses. At first, of course, Prendick is aghast at these abominations, these men who aren’t quite men. Gradually he is imbue with a sense of sympathy, but following this expression of sympathy in the act of putting the leopard man out of his misery, Prendick falls into a state of apathy in which he becomes numb to the grotesque world around him. Prendick’s numb acceptance is both an answer to the question posed by the man in â€Å"Under the Knife† and Wells’ answer to why social surgery is necessary. If the higher qualities that separate humanity are allowed to slip away, he will revert to pure instinctual survival, and even tually society will grow more numb to the horror of that spectacle and accept it. The reason that the infected members of the populace must be surgically cut off in order to ensure the survival of the species is because if they aren’t, and they are allowed to continue infecting others, eventually everyone will reach a state of numbness like Prendick’s and society will begin a long, slow slide backward.Wells uses the experiments of Dr. Moreau to illustrate that that society’s ills cannot be corrected by surgical improvement and he shows in â€Å"Under the Knife† that for a utopia to ever exist, the social surgery must be utilized to cut away the ailments. The symbolism of surgery as a method for effecting great change is prevalent throughout both these works; in fact, it is integral to them. Dr. Moreau’s heinous and ill-advised attempt to improve the island through a mad attempt to enforce the finer qualities of humanity to animals can be read as a statement by Wells on the utter impossibility of this approach as a means of making society better. Wells’ vision of a utopia that is achieved by removing the sick and foul parts of it rather than trying to turn it into something better is expressed in â€Å"Under the Knife.† The character in that story fears that he will die as a result of the illness and imagines a better world without the constraints of the body. In the end, however, he is made better through scientific achievement. The contrast is evident; Wells believes that scientific advancement is not in itself inherently good or evil, but that rather the application of science that reveals good and bad. Works CitedReed, John R. The Natural History of H.G. Wells Athens, OH: Ohio University Press, 1982. Scheick, William J., ed. The Critical Response to H.G. Wells. Westport, CT: Greenwood Press, 1995. Wells, H. G. A Modern Utopia. Lincoln, NE: University of Nebraska Press, 1967. Wells, H.G.. The Country of the Bl ind and Other Stories. London: Kessinger Publishing, 2004.Wells, H.G.. The Island of Dr. Moreau. New York: Signet Classic, 1988.

Macroeconomic Variables And Domestic Factors Affecting Stock Market Index Finance Essay - Free Essay Example

Sample details Pages: 14 Words: 4312 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Similar to any other commodity, in the equity market, share prices are also reliant on some factors. One of the main domestic factors in determining a stocks price is the macroeconomic variables of an economy. The theoretical framework of stock market and economic activity is rooted in Ross (1976), who launched the Arbitrage Pricing Theory (APT) that associates stock returns to numerous variables. Don’t waste time! Our writers will create an original "Macroeconomic Variables And Domestic Factors Affecting Stock Market Index Finance Essay" essay for you Create order To study the relationship between the market returns and macroeconomic factors such as industrial production, the money supply, inflation, interest rate and exchange rate variables, Chen, Roll and Ross (1986) used a multivariate APT. They concluded a strong association between the market returns and these variables. 2.1.1 Studies done to test the association of macroeconomic variables with stock market returns After Rosss introduction of the APT in 1976 and his empirical findings in 1986, different authors started to test his theory. However, research into the relationship between stock market returns and multiple macroeconomic variables has been limited. Firslty, Dhakal, Kandil, and Sharma (1993) adopted a vector autoregression (VAR) model to test the impact of a change in the money supply on a change in the stock market index. In the US, a significant relationship between these two variables was discovered. Furthermore, a study by Abdullah and Haywarth (1993) found that a change in the market index was influenced by the rate of inflation and by both the change in the money supply. Another study was done by Fama (1981) who indicated that most economic factors, except inflation, exhibited a positive correlation with the stock market index. The Proxy hypothesis partially explained negative correlation between inflation and real equity returns. This is so because, inflation and real equity returns react inversely to news about future real output growth. On a contradictory point, Aarstol (2000) confirmed that this negative relationship persisted even when output growth was controlled. Even, Rapach (2001) examined the effects of money supply, aggregate spending, and aggregate supply shocks on real U.S. stock prices in a structural VAR model. One of his main findings was that real stock returns were negatively correlated with inflation. Additionally, Muradoglu et al. (2000) investigated possible causality between 19 emerging market returns and exchange rates, interest rates, inflation, and industrial production from 1976 to 1997. Their study demonstrated that the correlation between stock returns and macroeconomic variables were mainly due to the relative size of the respective stock market and their integration with world markets. Moreover, Wongbangpo and Sharma (2002) studied the relationship between the stock index and macroeconomic variables by observing both short and long run relationships between respective stock indexes and the macroeconomic variables of the consumer price index (CPI), gross national product (GNP), the interest rate, the money supply, and exchange rate. They found that in the long-run all five stock price indexes were positively related to growth in output and negatively to the aggregate price level. Surprisingly, a negative long-run relationship between stock prices and interest rates was noted for the Philippines, Singapore, and Thailand, and was found to be positive for Indonesia and Malaysia. In the end, causality tests detected an overall relationship between macroeconomic variables and stock prices for all five equity markets. Lastly, Mukhopadhyay and Sarkar (2003) conducted a systematic analysis of the Indian stock market returns prior to and after market liberalization and the influence of macroeconomic factors on returns. Specifically for the post-liberalization period, real economic activity, infla tion, money supply growth, FDI, and the NASDAQ-index were significant in explaining variations in Indian stock return. Similarly, while significant during the pre-liberalization period, nominal Exchange rate was found not be significant after liberalization. 2.1.2 Summary of findings In the empirical review, we noted that money supply is a variable that almost all the authors used and they eventually found that it is positively correlated with stock index. Likewise, variables such as CPI, exchange rate, industrial production, interest rate and others impacted on the equity market indices as noted by numerous authors. Remarkably, inflation is one macroeconomic variable which was found to be negatively correlated with the stock returns in most of the studies carried out. 2.2 Financial crises affecting stock markets worldwide According to Mink and Mierau (2009), financial crises are characterized by the sudden and simultaneous materialization of risks that in times of tranquillity were believed to be independent. Therefore this can pose a substantial threat to the stability of the international financial system. These risk spreading opportunities in times of stock market crashes has induced investors to fear that during financial crises shift-contagion occurs. This has been defined by Allen and Gale (2001), Rigobon (2002), and Pericoli and Sbracia (2003) as a shift in the strength of the transmission of shocks from one country stock market to other. As an illustration, concentrated episodes of financial disorder in the last two decades, quickly spreading across borders, sometimes without apparent fundamental justification, caught the attention of financial researchers. Labeled as the Tequila crisis, the Asian flu, or the Russian virus, such colourful media designations depicted that each crisis propa gated like a contagious disease, quickly affecting not only neighbouring but also distant markets. Following from these, the word contagion began to frequently appear in the financial literature as these events became the object of an increasing number of theoretical and applied analyses. 2.2.1 Financial contagion In the existing literature, financial contagion has not obtained a consensual definition yet and each different concept varies with the specific nature of each study. The description adopted here was projected by Forbes and Rigobon (2001) and is particularly sufficient for analyses of stock markets crises. The authors identify financial contagion with a significant increase in cross-market linkages after a shock to one country (or group of countries) and defend that such definition presents a number of operational advantages. To be precise, its usefulness for financial investors engaged in strategies of international diversification, or for monetary authorities who aim at justifying bailing out interventions in markets affected by foreign crises. 2.2.2 Transmission mechanisms of financial contagion Remarkably, there are a number of different theories on how shocks are propagated internationally. However, it is useful to demarcate this broad set of theories into two groups: crisis-contingent and non-crisis-contingent theories. Crisis-contingent theories are those that clarify why transmission mechanisms change during a crisis and therefore why cross-market linkages increase after a shock. Non-crisis-contingent theories take the view that transmission mechanisms are the same during a crisis as during more stable periods, and therefore cross-market linkages do not increase after a shock. 2.2.2.1 Crisis-Contingent Theories Crisis-contingent theories about how shocks are spread internationally can be divided into two mechanisms: multiple equilibria and endogenous liquidity. Multiple Equilibria This first mechanism occurs when a crisis in one country is used as a signal for imminent financial turmoil for other countries. In this perspective, Masson (1998) proved how a crisis in one country could lead investors expectations shifting from a good to a bad equilibrium for another economy and thereby causing a crash in the latter. Mullainathan (1998) argued that investors incorrectly remind past events. A crisis in one country could activate a memory of precedent crises, which would cause investors to recompute their priors and allocate a higher probability to a bad state. The resultant descending co-movement in prices would arise since memories are correlated. The movement from a good to bad equilibrium and the transmission of the first shock, in both above models, are initiated by a change in invest or expectations or beliefs but not by any real linkages. This branch of theories demonstrates not only the contagion of crises, but also why speculative attacks occur in economies that appear to be fundamentally sound. These are called crisis-contingent theories as the change in the price of the second market is worsen during the shift between equilibria. Hence, subsequent to a crisis in the first economy, a change in investors expectations is triggered and the shock transmitted through a propagation mechanism that does not exist during stable periods. Endogenous liquidity Another group of crisis-contingent theories is endogenous liquidity shocks. Such a model is developed by Valdà ©s (1996) where a crisis in one country can reduce the liquidity of market participants. This would cause investors to recompose their portfolios and sell assets in other countries in order to continue operating in the market, to satisfy margin calls, or to meet regulatory requirements. Likewise , if the liquidity shock is large enough, a crisis in one country could increase the degree of credit rationing and force investors to sell their holdings of assets in countries not affected by the initial crisis. Calvo (1999) developped a different model of endogenous liquidity. Asymmetric information among investors is present in Calvos model. Sometimes investors do not have a complete picture of the conditions in every country that can affect their portfolios returns, owing partly to the cost of gathering and processing information. In the absence of adequate information, a financial crisis in one country may lead investors to believe that other countries could face similar problems. As a result, investors could sell assets in other countries, especially those with similar conditions to those in the country where the crisis originated. This kind of behavior can mirror rational as well as irrational behavior. If weak fundamentals are revealed by a crisis, investors may rational ly conclude that comparable countries could also face similar problems, thus causing contagion. As an illustration, informed investors who are able to decode the fundamentals of an economy are also equally hit by liquidity shocks to sell their holdings. On the other hand, uninformed investors cannot distinguish between a liquidity shock and a bad signal, and therefore charge a premium when the informed investors are net sellers. What transpires from the above is that liquidity shock leads to an increased correlation in asset prices. Hence, this transmission mechanism does not seem to occur during stable periods but only occurs after the initial shock. The above theories propose varying channels through which shocks could be transmitted internationally: multiple equilibria based on investor psychology and endogenous-liquidity shocks leading to portfolio recomposition. Regardless of the diverse approaches and models used to widen these theories, they all share one significant im plication: the transmission mechanism throughout (or directly after) the crisis is inherently dissimilar than that before the shock. This is a structural shift causing shocks to propagate via a channel that does not exist in stable periods. Hence, each of these theories could explain the existence of contagion. 2.2.2.2 Non-Crisis-Contingent Theories On the other hand, there exists another school of thought where although shocks can propagate internationally but do not generate shift-contagion. These theories hold that transmission mechanisms are not significantly different after an initial shock. Instead, large cross-market correlations after a shock are attributed to a continuation of linkages that existed before the crisis which often called real linkages, since many (although not all) are based on economic fundamentals. These theories can be classified into four broad channels: trade; policy coordination; country reevaluation; and random aggregate shocks. However, we will shed light on one major theory which is trade. Trade This mechanism works through several related effects. For instance, a country in the process of devaluing its currency would have the direct effect of increasing the relative competitiveness of that countrys goods. Moreover, exports to a second country could increase, thereby adversely affecting do mestic sales within the second country. Moreover, the initial devaluation indirectly leads to a reduction in export sales from other countries that compete in the same third markets. Either of these effects would not only have a direct impact on a countrys sales and output, but also, in case of strong competition, it would increase expectations of an exchange rate devaluation and/or lead to an attack on another countrys currency. 2.2.3 Studies done to detect contagion effects The empirical literature testing if contagion is present is even further widespread than the theoretical literature defining how shocks can be transmitted across markets. The common approaches utilized to measure the transmission of shocks and test for contagion are: analysis of cross-market correlation coefficients; GARCH frameworks; cointegration; and probit models. There are also many studies examining the existence of contagion effect of various crises on different stock markets in the world using different methodologies. Virtually all of these papers conclude that contagion occurred during the crisis under investigation. 2.2.2.1 Cross-market correlation coefficients The most uncomplicated tests are based on cross-market correlation coefficients. These tests compute the correlation in returns between two markets through a steady period and subsequently test for a significant increase in this correlation coefficient following a shock. If the correlation coefficient boosts up considerably, this advocates that the transmission mechanism between the two markets increased after the shock and contagion occurred. Most of these papers test for contagion immediately after the U.S. stock market crash of 1987. In the foremost major paper on this theme, King and Wadhwani (1990) tested for an increase in cross-market correlations between the U.S., U.K. and Japan and found that correlations increased notably after the U.S. crash. Lee and Kim (1993) extended this analysis to twelve major markets and found further proof of contagion: that average weekly cross-market correlations increased from 0.23 before the 1987 crash to 0.39 later. Moreover, Calvo and Reinh art (1995) used this approach to test for contagion after the 1994 Mexican peso crisis and found that the correlation in stock prices and Brady bonds between Asian and Latin American emerging markets increased significantly. Remarkably, Baig and Goldfajn (1998) presented the most thorough analysis using this framework and test for contagion in stock indices, currency prices, interest rates, and sovereign spreads in emerging markets during the 1997-98 East Asian crisis. They found that cross-market correlations increased during the crisis for many of the countries. To sum up, each one of these tests based on cross-market correlation coefficients comes up to the similar universal conclusion: correlations typically increase considerably after the appropriate crisis and consequently, contagion occurred during the period under investigation. 2.2.2.2 GARCH frameworks Another approach to test for contagion is to make use of an ARCH or GARCH framework to approximate the variance-covariance transmission mechanism across countries. Chou et al. (1994) and Hamao et al. (1990) used this procedure and find evidence of significant spillovers across markets after the 1987 U.S. stock market crash. They also concluded that contagion does not occur evenly across countries and is fairly stable through time. In another study, Edwards (1998) examined the propagation across bond markets after the Mexican peso crisis by focusing on how capital controls affect the transmission of shocks. He showed that there were noteworthy spillovers from Mexico to Argentina, by estimating an augmented GARCH model but not from Mexico to Chile. His tests showed that volatility was transmitted from one country to the other, but they do not specify if this propagation changed throughout the crisis. 2.2.2.3 Cointegration A third group of tests for contagion center on changes in the long-run relationship between markets, as an alternative of any short-run changes after a shock. These papers employ the same fundamental procedures as above, excluding test for changes in the co-integrating vector between stock markets instead of in the variance-covariance matrix. For example, Longin and Solnik (1995) considered seven OECD countries from 1960 to 1990 and reported that average correlations in stock market returns between the U.S. and other countries rose by about 0.36 over this time period. However, this approach is not an precise test for contagion given that it assumes that real linkages between markets stay constant over the entire period. If tests demonstrate that the co-integrating relationship increased over time, this could be a permanent shift in cross-market linkages instead of contagion. Furthermore, by centering on such long time periods, this series of tests could overlook brief periods of co ntagion (for instance after the Russian collapse of 1998). 2.2.2.4 Probit models A last approach to testing for contagion utilizes easier assumptions and exogenous events to discover a model and straightforwardly gauge changes in the propagation mechanism. A first research was that of Baig and Goldfajn (1998) who studied the effect of daily news (the exogenous event) in one countrys stock market on other countries markets in the 1997-98 East Asian crisis. They found that a considerable proportion of a countrys news impacts neighboring economies. Secondly, Forbes (2000b) predicted the impact of the Asian and Russian crises on stock returns for individual businesses around the world. She found that trade was the most vital transmission mechanism. Moreover, Eichengreen, Rose and Wyplosz (1996) and Kaminsky and Reinhart (1998) anticipated probit models to test how a crisis in one country (the exogenous event) affects the probability of the occurrence of a crisis in other countries. Eichengreen, Rose and Wyplosz studied the ERM countries in 1992-3 and found that the likelihood of a country suffering a speculative attack increases when another country in the ERM is under attack. They also argued that the first shock is propagated principally via trade. In the same context, Kaminsky and Reinhart (1998) estimated the conditional probability that a crisis will take place in a given country and found that this probability increases when more crises are occurring in other countries (particularly in the same region). 2.2.3 Summary of findings After the review of the numerous empirical findings on financial contagion, we found that financial disorder in one country can affect anothers country stock market through contagion effects. The same thing applied to the event of the financial crisis. It had spillover effects over stock markets globally through different contagion transmission mechanisms. Some mechanisms were due to the crisis and others were due to existing contagion irrespective of whether there is a crisis or not. To conclude, it is to be noted that a global event is a contributing factor to changes in stock market indices. 2.3 An empirical Framework applied for China Hong Kong In 2009, Tao Sun and Xiaojing studied the spillovers of the U.S. subprime financial turmoil to Mainland China and Hong Kong SAR: Evidence from Stock Markets by taking China and HKs stock price returns as from January 2007 to October 2008 as the sample period. They reflected in their model both the element of testing for contagion and the macroeconomic variables of the home countries. They had two groups of independent variables: Domestic control variables in China and Hong Kong, and Global financial market volatility variables The model specification takes the following form: Rt= constant + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ¶t Rt-1 + ÃÆ'Ã… ½Ãƒâ€šÃ‚ »X t-1 + ÃÆ' Ãƒ ¢Ã¢â€š ¬Ã‚  Vtf + ÃÆ'Æ’Â °eventt + ÃÆ' Ãƒ ¢Ã¢â€š ¬Ã… ¾t Where Rt = Price Return X t-1 = Control Variables Vtf = Measures of global financial market volatility eventt = Subprime events ÃÆ' Ãƒ ¢Ã¢â€š ¬Ã… ¾t = Error Term The control variables (macroeconomic variables) that they used for China we re: interest rate, industrial production, money supply, CPI and trade balance. However, for Hong Kong, they used only money supply, CPI and trade balance. On the other hand, for the measures of global financial market volatility, they made use of Chicago Board Options Exchanges Volatility Index (VIX) to reflect the implied volatility of the SP 500 index. For the event variable, they used negative news on subprime crisis as a dummy variable i.e event=0 before the crisis and event=1 after the crisis. To conclude, they found that Chinas stock market was not immune to the financial crisis, as evidenced by the price and volatility spillovers from the U.S. in addition, Hong Kongs equity returns have exhibited more significant price and volatility spillovers from the US than Chinas returns, reflecting HKs role as an international financial center. 2.4 Loss in investor confidence: a major cause of the global financial crisis According to Brian Perry (2009), an investment strategist at an asset management firm called Alexander Perry Corporation, poor performances in the bond and stock markets were the most visible reflections of the credit crisis. In his article called Credit Crisis: Market Effects, he added that  more importantly, although less visible, was the impact on investor confidence. At its simplest level, the market depends on trust and confidence among investors. He said, Without this trust, a dollar bill is just another piece of paper, and a stock certificate holds no value. The most dangerous consequence of the credit crisis was the erosion of this trust and confidence which shook at the very foundation of the modern financial system when investors questioned the  solvency  of banks and other financial institutions. This erosion of confidence ate away at the very base of the contemporary financial system and is the cause why the credit crisis posed such a serious danger. In this recent episode we have seen old-fashioned bank runs, with depositors lining up to get their deposits out of banks like Northern Rock in the U.K. and IndyMac in the United States. Diamond and Dyvbig (1983) in an influential model showed that a self-fulfilling loss of confidence in the banking system may lead depositors to seek to withdraw their funds from banks, causing widespread failure of the banking system. On the other hand, Chari and Jagannathan (1998) showed that asymmetric information about the quality of bank assets leads investors to withdraw their deposits. 2.3.1 Herd Behavior of investors According to Wikipedia, large stock market trends often begin and end with periods of frenzied buying (bubbles) or selling (crashes). Numerous observers quote these episodes as obvious instances of herding behavior that is irrational and driven by emotion for example greed in the bubbles and panic in the crashes. Individual investors join the mass of others in a hurry to get in or out of the market. A basic remark about the human society is that people who communicate frequently with one another think alike. Part of the rationale peoples judgments are alike at similar times is that they are reacting to identical information. The social pressure has an enormous power on individual judgment. When people are met with the judgment of a huge group of people, they have a tendency to alter their wrong answers. They merely think that all the other people could not be wrong. As per Shiller (2000), they are reacting to the information that a large group of people had reached a decision di ssimilar from theirs. This is a rational behavior. People are prejudiced by their social environment and they frequently feel pressure to conform. According to Fromlet (2001), fashion is a tiny form of herd behavior whereas an instance of the strong form is fads that comprise crashes. Herd behavior may be the most commonly recognized observation on financial markets in a psychological milieu. Many players on financial markets might believe that a currency or equity is not properly priced, but they refrain nonetheless from a contrary financial exposure. These people merely feel that it is not sensible to combat the herd. This is a case of enforced herd behavior. They follow the herd not willingly, but to avoid being trampled and are thus enforced into following the herd. A further important variable to herding is the word of mouth. People usually trust friends, relatives and working colleagues more than they do the media. The conventional media, written information, television s, and radio have an intense ability for spreading thoughts; however their capability to produce active behaviors is still limited. Discussing with other people and other types of interpersonal communication are in the midst of the most essential social connections humans have. It is thus probable that news regarding a buying opportunity will speedily spread. In a research done by Shiller and Pound (1986b), private investors were asked what first drew their interest to a company they recently had invested in. Simply six percent of the respondents specified newspapers and periodicals. The attention and actions of people appear to be more stimulated by interpersonal communications even if they read a lot. The conception that the level of market prices reflects the result of private investors aggregated assessments and accordingly the true value of the market may be erroneous. People can as an alternative be rationally choosing not to misuse their time and effort in exercising their judgment about the market and therefore choosing not to exert any independent impact on the market. Shiller (2000) pointed out that this can lead to herdlike behavior and act as a cause of stock market over- or under pricing. 2.3.2 Studies done to capture investors behavior Conversely, only few studies have been made so far to investigate how financial crises shape the beliefs and behavior of individuals. A noteworthy exception is Kim and Wei (2002) who investigated foreign portfolio investors before and during the Korean currency crisis in late 1997. The outcomes illustrated that foreign investors outside Korea were engaged more in herding than actually did the branches of foreign institutions in Korea or foreign individuals inhabiting Korea. This was interpreted as proof that local investors have dissimilar information compared to those outside the country. 2.3.2.1 Investor Confidence Index JPMorgan Asset Management India Pvt. Ltd. (JPMAMIPL) announced the launch of the first Investment Confidence Index (ICI) in India in July 2009. The primary purpose of the ICI is to quantify confidence in the investment environment among investors. With the aid of the survey intended to capture the ICI score, data was collected for eight cities across India. The survey was constructed in a way to include the following criteria which was opinion polled by individual investors inhabiting these cities. Investor Confidence Index Attributes (a) Elements Economic Environment Local Economic Environment, global economic environment Investment Atmosphere Fluctuations of stock market indices Investment Portfolios Prospect of individual investment portfolio, expected increase/decrease in the amount of investment Figure 1: Investment Confidence Index by JP Morgan The ICI was then computed as follows: Investment Confidence Score = a1 i . wi + a2 i . wi + a3 i . wi Where a1 i is the ith element of the 1st attribute, and wi is the corresponding weighting for that element Arun Jethmalani, Managing Director of ValueNotes said, The Indian economic prospects drive confidence across the board. A Government with a strong majority was viewed as the most positive economic signal. The Investment Confidence Index at the end of July 2009 stood at 135.9. A deeper study of the indices throws up a recurring theme across India consistently high levels of optimism on an improvement in the Indian economic situation. This is contrasted by a marked pessimism or significantly lower confidence on a global economic recovery.

What is the Purpose of Life Essay - 4196 Words

Theories on man’s development from a state of nature into politics and the present have all been an attempt to understand the purpose of life. After all, a look at what man was like before politics should give some sense of what his initial aims were. However, the ends of mankind have never been agreed upon, with ideas ranging from simple survival to complex interrelations of populations on a global scale. Perhaps the best way to define the ends of the individual would be that those ends must be found by the individual, thus making them different for every person. However, for a political individual, there is a larger interplay of forces. In a political society, it is possible for others to abridge your own personal pursuit of your own†¦show more content†¦No, Sirs, I bear witness to the better part of our nature, that noble disquiet which pursues and torments us, that desire to broaden our knowledge and develop our faculties. It is not to happiness alone, it is to se lf-development that our destiny calls us (Constant, 327). In the modern sense, a term exists to define this self-development: self-actualization. Self-actualization, then, includes happiness, work, accomplishment, profit, and all sorts of ideas that accumulated over the ages as necessary for the human – the ideas of such authors as Hobbes, Locke, and Rousseau. However, reaching self-actualization requires all of these thinkers, and an engagement with the liberal tradition itself. As with so many things, these thoughts began in the classical era, with thinkers such as Plato and Aristotle. A deep discussion of these authors is far beyond the scope of this discussion, but a brief discussion of these thinkers is useful as a starting point. For example, Aristotle postulated four causes for any given thing: the material cause, the formal cause, the efficient cause, and the final cause. These cover the concept of a thing, the nature of it, and its interaction with the world. The final cause, then, is what is important here, as this is the purpose of the thing. What is the final cause of a humanShow MoreRelatedWhat Is The Purpose Of Life?1619 Words   |  7 PagesWhat Is The Purpose Of Life? Probably the MVP of questions, What is the purpose of life?, Has come across all of mankinds thought s some time or another and for each individual, it is plausible that they pondered this topic on numerous occasions throughout their life s. Many people find solace in their religions, others look to the ancients and the stars, while some, just trust in nature. Maybe within all of these outlooks, you can find truths about the meaning of life, but is the meaningRead MoreWhat Is The Purpose Of Life?1021 Words   |  5 PagesSophia Cazanas Cazanas 1 October 21, 2014 IDH1001 Professor Adam Gorelick Dharma What is the purpose of life? Does everyone have a set of moral codes? 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I assume it’s easier to live with some sort of explanation, even if it’s incorrect. When asked, â€Å"What religion do you practice?† I reply, â€Å"I am an atheist.† I simply lack beliefRead MoreUtilitarians Ethic and Politics: What is the Purpose of Human Life?1655 Words   |  7 PagesWhat is the purpose of human life? Describe utilitarians ethic and politic. What should Wonder Woman do? Wonder Woman just wake up this morning , and learn from the news that a boat is sinking in the Odra. and 30 people are in life threatening. She is almost outside of the window ready to go to save some lives when she realizes that in the park next to her home some friends are doing a barbecue. As she really would like to go the barbecue she starts to have an internal struggle. What ought WonderRead MoreWhat Is The Purpose Of Human Life? Who Are We? And Is Reality Real?1271 Words   |  6 PagesWhat is the purpose of human life? Who are we? and Is reality real? All questions that have been asked at least once in each humans lifetime. Metaphysical questions such as these are important to ask because they’re so complex that most humans are convinced that they are unable to answer them or are convinced that these questions are ones that are absolutely impossible to answer. As humans, we grow up questioning the reality around us and we are led to believe that we will never have an answer forRead MoreWhat Does It Mean You Live A Life Of Meaning And Purpose? Essay1366 Words   |  6 PagesWhat does it mean to live a life of meaning and purpose? We have examined this question through at least five different authors, in different time periods, and through different ideas. However, the common idea has remained the same, have faith in God. For a human to live a life of meaning and purpose he must understand the truths of the natural world and the differences between what is good and evil. Jesus set an example for humans in his stories written by Matthew by displaying the ultimate faithRead MoreObtaining A Life Of Meaning And Purpose In Life Is Something1579 Words   |  7 PagesObtaining a life of meaning and purpose in life is something that every human being struggles with. Trying to find yourself and locate your value in society. Even today it’s one of the biggest struggles. That feeling of acceptance comes from everything, your back round, your race, y our skin color, your religious belief, your political belief. God intended for us to be here in this world but he leaves your meaning and purpose for you to find and seek it through whatever lessons and teachings you findRead MoreThe Fall Wind Is Blowing852 Words   |  4 PagesEvery human being has a purpose. They may have been born to save a life, fight for our country, or live in a box but no matter what they choose to do in life they still serve a purpose to our community, country, and world. They were born with a purpose. Purpose is defined as, â€Å"the reason for which something is done or created or for which something exists† (Oxford Dictionary). The fall wind is blowing, the leaves are changing on the big maple tree in a backyard with a five year old sitting on her

What Makes a Criminal Essays - 1778 Words

What makes a criminal a criminal? Can anyone become a criminal? Answering and understanding these questions is the core work of criminologists as most criminologists attempt to make sense of why people do certain things (Garland, Sparks 2000). This essay will consider the notion that any person could become a criminal and in so doing consider the initial question. This essay will outline a range of theories that attempt to describe human behavior in relation to criminal behavior given the complexities of behaviour. Several theories will be considered as no single theory of behavior can account fully for the complexities and range in criminal behaviour. The theories range from social-control, to classical, to biological, to personality†¦show more content†¦Further to this, they need to provide a thorough explanation underpinning the criminal behaviour (Hayes, Prenzler, 2009). There are numerous theories available to assist with the explanation of criminal behaviour. These the ories give rise to behavioral patterns such as repetition, instigation, desistance, and maintenance (Akers, Jensen, 2007). 2 It is possible to consider the notion that some people may be more predisposed to committing a criminal behaviour or could become a criminal by committing an offence (Gottfredson, Hirschi 1990). For example, people in certain areas have a higher rate of crime. This higher crime rate in those areas seems to remain constant over time (Hayes, Prenzler, 2009). There may be many reasons influencing this phenomenon including socio-economic, and the limited resources associated with this (including less money and fewer services). This may be a factor contributing to the reason people living in these areas become a criminal – that is, to survive (Baumer Gustafson, 2007). However, the view that crime pays well and many commit crime for a lucrative lifestyle is simplistic and an unlikely explanation for the range in criminal behavior and circumstances surrounding that behaviour. It has be noted that while some may view crime as an avenue to gaining a lifestyle, crimeShow MoreRelatedWhat Makes a Criminal?734 Words   |  3 PagesWhat makes a criminal? Can anyone become a criminal? What makes people do certain things and behave a certain way? There are many contributing factors that leads to criminal behavior such as the economy, social environment, family, mental disorders etc. A criminal is someone who has committed a crime or broken the law. Anyone and everyone can become a criminal. Deviant behavior is seen everywhere in the world today. There are many types of crimes, from speeding, to stealing, on up to being a serialRead MoreWhat Makes A Criminal? Criminal Behavior?1301 Words   |  6 PagesFor this research paper I will show that pretty much a nyone can be labeled or become a criminal. With this being said, I will go into detail as to â€Å"what makes a criminal a criminal?† First off, criminal behavior refers to conduct that is being committed which can lead to an unlawful act. There’s a wide variety of behaviors that can be from just tasting something at the flea market, to driving faster than the posted speed limit, to cursing at players at a game in disappointment. We as a society andRead MoreWhat Makes Someone A Criminal?1461 Words   |  6 PagesWhat makes someone a criminal? June from Brotherly Love is a criminal in the laws eyes but not really one in the communities eyes. Brotherly Love is a movie about a star basketball player named sergio and his friends and family. June is the oldest brother of his siblings and he takes care of them. In the laws eyes he is a criminal but in the eyes of the community and to his family he is just someone who is taking care of his family the only way he knows how. J une is an outlaw hero for many reasonsRead MoreWhat Makes Someone A Criminal?1753 Words   |  8 Pages Paper 1 What makes someone a criminal? I would imagine that this question is on a lot of peoples minds, everyone wants to know what makes someone commit the crimes that they do. Well there are seven theories, deterrence, rational choice, routine activities, biological, bio social, psychoanalytical, and psychological. These theories help us understand why people are criminals, and they also help us determine why some of us are not. Using theseRead MoreWhat Makes Someone Become A Criminal?2312 Words   |  10 PagesWhat Makes Someone Become a Criminal? Have you ever watched the news or read an article about a horrific crime that was committed and wonder what would make a person do such a terrible thing? Is there a biological, psychological, or social factor that causes these actions? Are they born with a specific gene or is there something psychological that eventually surfaces that causes their actions? Are people born innocent and criminal tendencies are learned throughout life through observations, environmentRead MoreWhat Are The Factors Which Makes A Child Criminal?1298 Words   |  6 PagesTopical Question The word deviance means behaviors that violate social norms, and this can include crime. The topical question that I want to explore is, â€Å"What are the factors which makes a child criminal?† Article 1 Violence, Crime, and Abuse Exposure in a National Sample of Children and Youth The importance of this article is the fact that it proved, when children are exposed to violence, crime and abuse as it affects their development and the policymakers need to pay special attention to thisRead MoreWhat physical evidence does in a criminal trial and the vast impact it can make1678 Words   |  7 PagesIn the criminal justice system, the best chance of a fair trial and justice lies within cases that include physical evidence. Physical evidence, whether fibers, fingerprints, or DNA, can give a jury proof beyond a reasonable doubt. Physical evidence can convict a criminal, or it can free an innocent man. It can bring closure to families and to the law enforcement that work the cases. The following cases will show what physical evidence does in a criminal trial and the vast impact it can make. For eachRead MoreThe Criminal Justice System Is A Big Part Of Why We Have Order1205 Words   |  5 PagesThe criminal justice system is a big part of why we have order. If there wa s no criminal justice system and its components that keep it running, the population would run wild. There are three major components of the criminal justice system, the criminal courts, corrections, and law enforcement. These components help uphold the law and protect people from others who do break the law. The world is not perfect, but there have been many examples in real life and in literature and films that show whatRead MoreWhy People Commit Crimes1403 Words   |  6 Pagespoints of view of what is criminal behavior. Of course, each person has it own opinion. Crime is the human conduct in violation of the criminal laws of a state, the federal government, or a local jurisdiction that has the power to make such laws, according with Schmalleger. The criminal behavior is the antisocial acts that a person commits for different reasons. This means that the person violated laws constantly for a long or short time period. There are many reasons why criminals commit crimes. SomeRead MoreCriminal Justice1385 Words   |  6 PagesCriminal Justice Trends Criminal justice Criminal Justice Trends Criminal justice field is growing every day. It grows with the help of technology and society. When the technology evolves and society grows the criminal justice has to evolve and grow to fit the society needs. Whether it is an easy or hard change the criminal justice system never fails us. With any state the criminal justice system is to protect and serve the community so the more it evolves the more the system has to. The following

Comparison Of IM Crazy By J. D. Salinger - 746 Words

When J.D. Salinger went to war, he not only affected his own life, but also the life of Holden Caulfield. Similarities between Salinger and Caulfield are too numerous to write off as coincidence: both went to and flunked out of prep schools, and both had a penchant for language classes. Salinger’s life greatly impacted the plot and style of his works because Salinger used himself as inspiration for Holden, as demonstrated through â€Å"I’m Crazy†, â€Å"Slight Rebellion off Madison†, and The Catcher in the Rye. During the first of three of his works, â€Å"I’m Crazy†, Salinger is comfortable with having Holden closely resemble himself. Holdens idiolect begins to develop, although his angst and his proclivity for cursing, which signify Salinger’s†¦show more content†¦After his â€Å"escape†, from World War II -- Salinger returned to the United States in 1946 -- Salinger’s writing changed drastically again; it no longer reflected a man ashamed of who he was, rather a man with serious mental health issues who was tired of hiding behind a mask of conformity. Nicolaus Mills writes, â€Å"By his own admission, Salinger had come back from World War II†¦ a changed man† (Mills). During his time back, Salinger compiled and edited many of his short stories into what became his best-selling novel, The Catcher in The Rye. The author adapted Holden Caulfield to represent himself again, although the war had left its mark on Salinger’s psyche, turning Holden into an angsty, depressed teen with a tragic backstory of loss and abandonment. Holden’s idiolect changes; the protagonist frequently uses profanity, talks about how depressed he is, and calls other people â€Å"phonies† for not seeing the world in the same way that he does. Additionally, the point-of-view changes back into first-person, closing the fissure between Holden and Salinger which Salinger created in his choi ce to use third-person in â€Å"Slight Rebellion Off Madison†. The reader gets the chance to see Holden’s inner, often hypocritical, thoughts like the following: â€Å"I am always saying Glad tove met you to somebody Im not at all glad I met. If you want to stay alive, you

The Concept of the Political Free Essays

As a counterterrorism officer my moral duty is to protect the residents of my state from terrorism attacks and the national security of US. Therefore, I am under no obligation but to ensure I fulfill the role that I have been assigned. I am the senior counterterrorism officer in California State where there is a high percentage of Arab American citizens and immigrants. We will write a custom essay sample on The Concept of the Political or any similar topic only for you Order Now Thus over the last couple of decades it has been difficult to detect terrorists. Furthermore, infiltrating such a community has proved to be difficult thereby providing a loophole for the increase in terrorist activities. Infiltrating the Arab American Community To curb this demise I will commission FBI agents to act as my spies by posing as Muslim worshippers in the California mosques. This decision may be perceived as a violation of human rights and the freedom of privacy enjoyed by other citizens. However, in the actual fact this initiative is among the criminal responsibilities that are bestowed on counterterrorism officer. Moreover, it is a counterintelligence activity that ensures protection of the US national security by providing important information to the FBI body and the government. The rights to perform counterintelligence activities have been governed by the National security of 1947 which was amended in 2004 by the establishment of the Intelligence Reform and Terrorism Prevention Act. Furthermore, the commissioned FBI agents will not commit any wrong doing offences (Uwe, 2007). I will also employ informant to live amongst the community. The informant will mainly be ex-US military officers whose credentials are remarkable and stimulate the required standards. I prefer using ex-military officers because they are competent, trained to serve the nation thus will thoroughly understand the importance of their assignment and the need for them to keep their identity in discretion. The agents will regularly be monitored to prevent the development of discrepancy behaviors against ethical and moral norms. I will also make use of biometric fingerprint procedure for all travelers leaving and entering the California state. It may be argued that this tactic will detain people unnecessarily thereby wasting their time and subjecting them to measures and challenges that are unjustifiable. However, the initiative will enable the California Homeland Security Department to prevent identity theft, use of fraudulent documents and terrorists from gaining access to the state thus enhancing the national security and safety of California residents (Schmitt, 2007). The Status, Rights and Protections offered to Culprits of Terrorism In an attempt of increasing the efficiency and effectiveness of counterterrorism an executive order authorizing the interrogation and trial of foreign terrorist suspects and illegal combatants by a special military tribunal was passed in 2001. Therefore, an ex-American citizen captured in the United States in the act of terrorism should be considered as an illegal enemy combatant. Thus I would not hesitate to hand the culprit to the jurisdiction of the military commission of the United States, an act that will be in accordance with the (Military Commissions Act (MCA) of 2006 that was passed by the Congress introducing the concept of illegal combatant into US legislation. Furthermore, the concept of illegal combatant enemies has been accepted by other nations who have willingly handed over their sovereignty in this context to the US (Gill Sliedregt, 2005). The establishment of the above legislations withdrew all the protections that were accorded to ex-American citizens. The same applies to foreign nationals caught engaging in terrorism in US, American citizens fighting American forces abroad and foreign nationals that are non-military officials fighting American forces abroad. The above are all illegal combatant enemies of the state and thus also deserve to be tried before the jurisdiction of the military commission without the provision of Habeas corpus rights. The Habeas Corpus is a provision given to detained culprits to appeal for their release incase of being detained unlawfully. The above subjects are liable to torture in the event of collecting information that would increase the efficiency of the government and military to provide the US state national security. Therefore, I would fully support the idea of implementing torture as a method of extracting useful information to such culprits in an attempt of protecting the California residents (US Congress Joint Resolution, 2001). Perspectives Concerning Just War Just war is perpetuated by states in an attempt of protecting themselves from aggressive attack from other nations. However, for just war to be justifiable it should be used as a last resort problem of solving the conflict that exists that is after all non-violent mechanisms of resolving conflicts are exhausted. Just wars should only be perpetuated by bodies that are recognized by the society as legitimate. A just war should be initiated if the presumed end results are beneficial where its success is guaranteed to prevent death and suffering of innocent people in accordance to moral vices. The death of civilians can only be justified if they were accidentally killed by being in the vicinity of the military targets. Therefore, just wars should initiate long lasting peace between the nations that were under conflict. Furthermore, states are not supposed to use force when initiating just wars and in instances where such force must be implemented it should not exceed the injury or suffering caused. The war on terrorism can thus be classified as a just war because it adheres to the above principles. However, it can cease to be a just war if its goal is to spread terror, subject war on a non-state organization and if it aims at killing and hurting civilians (Fotion, 2007). Anti Americanism involves the negative aspect that individuals and state have over the political, economic, social and cultural values of US. Anti Americanism has adversely affected the national security of US due to introduction of foreign hostility towards the US state for instance terrorism, thus curbing the effective attainment of stipulated US policy goals. Anti Americanism also affects the ability of US to conduct businesses abroad. This is unethical and thus not justifiable therefore individuals that perpetuate the stimulation of violent acts against the American state should be held accountable for their actions and thus are liable to stand trial before the military commission. The US government has a right to protect the national security of the country by dealing with schools, mosques and charities that indirectly support terrorism while actually not directly engaging in the terrorism activities. The government prosecutes such individuals or organization with the aim of eliminating the terrorism concept and support that the individuals and organizations offer (US Congress Joint Resolution, 2001). USA PATRIOT Act The enactment of the USA PATRIOTIC ACT after the 9/11 attack has substantially reduced terrorism in United States because the surveillance and investigating powers of the US law enforcement officers was increased especially with respect to internet use. However, if I were in Congress I would vote for the renewal of the Act to amend it. This is because the Act was enacted in haste without being subjected to Congress debate and house report to declare the consent of Senators. This fact resulted to the omission of a balance between civil liberty and stipulated legislations (US Congress Joint Resolution, 2001). Word Count: 1190 Reference List Fotion, N. (2007). War and Ethics: Just War Theory. New York: Continuum. Gill, T. Sliedregt, E. (2005). Guantanamo Bay: A Reflection on the Legal Status and Rights of Unlawful Enemy Combatants. The Utrecht Law Review, 1 (1). Retrieved on July, 6th, 2009 from http://www. utrechtlawreview. org. Schmitt, C. (2007). The Concept of the Political. Chicago: University of Chicago Press. U. S. Congress Joint Resolution (2001). Authorization for Use of Military Force. Public Law, 107(40), 115 Stat. 224. Uwe. S. (2007). On the Ethics of War and Terrorism. Oxford: Oxford University Press. How to cite The Concept of the Political, Papers

The Horseradish Tradition free essay sample

For years, I categorized the strange little customs of my family with all other Jewish families. Since I grew up with it, I thought it was normal to come up with nicknames for everyone in the household, to take long naps after meals, and to shout load n go! for a half hour before actually leaving. But more bizarre than all of my familys little habits is the horseradish tradition. It is common knowledge that horseradish is available on Seder plates in Jewish households around the world on Passover, and often at other occasions throughout the year. This bitter, acrid topping can be tangy in the right amounts, but often painful and burning if too much is eaten at once. Therefore, the careful eater always uses horseradish sparingly. My father doesnt. It began one year when he was a reckless thirteen, and had not yet been properly warned against the dangers of horseradish. We will write a custom essay sample on The Horseradish Tradition or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page You eat too much of that white horseradish, my boy, his uncle told him, Smokell come out your ears and your tongue will be on fire for a week. Of course, my father looked upon this as a challenge. I bet I could eat a spoonful of it, he declared. Its not that spicy. (These famous last words are now truly historic, as the story is retold yearly.) He was given a spoonful of white horseradish. And, as he still proudly defends, he did swallow the entire spoonful. However, the tears that ran down his cranberry-colored face and the amount of water he consumed remain a running joke with his family. And the tradition of force-feeding him a large spoonful of white horseradish every holiday remains to this day.