Weeks vs. Southern Bell Research Paper Example | Topics and Well Written Essays - 1000 words

Weeks vs. Southern Bell - Research Paper Example Mrs. Weeks have also appealed that her employer, Southern Bell should return the position to Mrs. Weeks along with compensation for damages inflicted for the activities of discrimination of sex. Mrs. Weeks have also appealed for necessary action so that Southern Bell should refrain from such unlawful practices of employment in future. The detailed records of the case indicate that Mrs. Weeks had applied for the post of switchman in South Bell on 17th March, 1966. Southern Bell refused the application of Mrs. Weeks on 18th April, 1966 citing the reason that the position of switchman and the duties and responsibilities associated with the post is not fit for women. Post this refusal, Mrs. Weeks filed an unsworn charge with the Equal Employment Opportunities Commission and a representative of the Commission obtained a sworn charge from Mrs. Weeks on 30th July, 1966. The Commission carried out investigations on the charges brought about by Mrs. Weeks on her employer Southern Bell and fou nd there was no scope of judgment looking at the duties and responsibilities of switchman in the company that women are not fit for such positions (Staleup, 2005). On 19th April 1967, Mrs. Weeks was informed by the Commission that the conciliation procedure with Southern Bell has proved to be a failure and that Mrs. Weeks was provided a time period of 30 days to file the case against Southern Bell. The Commission appointed a counsel for Mrs. Weeks who filed the case against Southern Bell on her behalf on 18th May, 1967. In reply to this alleged unlawful practice of sex discrimination in the field employment in context to Mrs. Weeks, the company cross-appealed saying that as per the requirements of the code of law, there was no sworn charge filed by Mrs. Weeks within three months of the alleged unlawful practice. As per the codes of jurisdiction, the refusal of the application for employment occurred on 18th April, 1966 and that the sworn charge should be filed within 90 days, i.e. b y 30th July, 1966. The company highlighted that there was error on the part of the District Court to overrule this aspect and based on these points, the company applied for dismissal of the charges filed by Mrs. Weeks against them. The District Court validated the actions of the commission in this case saying that the amendments allow the Commission to charge cases filed beyond the time period of 90 days. The District also emphasized that irrespective of whether its is a sworn charge, any written complaint against the offender or the employer by their employee or the victim that identifies the parties involved in the case and the alleged unlawful practices subject to court’s judgment is deemed to be valid under the codes of jurisdiction. Southern Bell has held the view that that Commission only has the right to receive complaints from the aggrieved parties and take part in the administrative processes and not in any juridical process. Thus the commission has the right to take part in the process of settlement through conciliation, conference, etc. The Commission has no power to enforce juridical matters as it has done through engagement of the counsel on behalf of Mrs. Weeks (Robertson, 2006). In the context of this case, the legislative history is, however, silent on the matter regarding the requirement of the charges to be filed by the aggrieved parties. The charge irrespective of its nature whether it is a written complaint or sworn charge is viewed to be the stimulant that initiates the proceedings against the alleged lawful practices like the case of sex based discrimination of employment

Weekly Assignment 1 Essay Example for Free

Weekly Assignment 1 Essay In Moore’s proof if an external world, he is attempting to show that we can know things outside of our own us (Moore; 144). He proves this by using the example of showing his hands, pointing at one hand and saying â€Å"here is my right hand† then pointing to the other and saying the same thing (Moore; 144). He states that by just being able lift hand is proof that it exists. He provided three conditions that support his claim which are that; if his two conclusions differ from one another, which they do not. If he knew proof but did not believe it and vice versa; and finally if his conclusion did not follow the premises which it did (Moore ; 145). Moore addresses the issues that readers have about the fact that he is not answering the question. He claims that they are seeking a statement saying, â€Å"Here’s one hand and here’s the other†, to prove external existence by coming up and examining both hands (Moore; 146). This statement is meant to accommodate all the examples of proof of external objects (Moore, 147). It is very unlikely that on exists because for that statement to be true there would have to be an initial proof that a person is not dreaming which is quite difficult to do. Moore also provides an additional proof for objects that have previously existed by saying:† I held up two hands above the desk not very long ago, therefore two hands existed not very long ago and therefore at least two external objects have existed at some time in the past† (Moore; 146). He uses this as a solution to Immanuel Kant’s (1724–1804) problem of the existence of external objects; because it shows that the objects have existed at some point in time (Moore;146). [300 Words] Reference List G. E. Moore’s paper â€Å"Proof of an External World† Taken from Sosa, E. and J. Kim. 2000. Epistemology: An Anthology. Oxford: Blackwell Publishing.

Racial Differences Essay -- Racism Personal Narrative Papers

Racial Differences "CHINK!!!! Yeah..that's right†¦look at us with those chinky eyes! Go back to where you belong!" Those words will forever ring in my ears. I was standing in line for lunch while talking to a friend while a couple of boys, fourth and fifth graders, were making fun of the only Asian girl in the school, me, a lonely kindergartener. I will never forget that moment when I realized that I was different. Growing up in a predominantly white community, I had never thought of the issue of race as a child. My neighbor and I were best friends, and I never thought of myself as different. She had blonde hair; I had black. She had blue eyes; I had dark brown. We loved to play with the same things, thus we were friends. It was that simple. But on that day in elementary school, my world came apart, and I will never forget it. I was different, and I didn't know why. After those boys said that to me, I just stared in shock and got my lunch. I acted as though they had said nothing, and I was probably fortunate, considering the horrible things young boys can do. But when I went home, I cried. Why were people making fun of me? I didn't even understand what "chink" meant. It was only the motion they made by stretching their eyes that made me understand. I hadn't realized that I was different from everyone else. At home I spoke Chinese and watched some Chinese movies, but I did not think that m ade me different. I was still a person, a human being. Did it matter that I spoke Chinese and had black hair and dark brown eyes? Apparently to some people it did matter. Every day I went to school with white children and went home to a Chinese family. For other people this was a line, a distinction that set me apart ... ...h group celebrates the stereotype that society has imposed on them, and instead of celebrating individuality; they celebrate the sameness of race. Living amongst white people I was initially teased because of my race, but I was more often liked and accepted for who I am. Living amongst Chinese people, I was initially accepted because of my race,but not liked for who I am. I am an American-born Chinese. These two sides make me. Without either one, I am not complete. When I walk down the street, I can never hide the fact that I am Chinese. I cannot change my Asian features. When I talk to people and voice my opinion, I am American. Yet I do not fit completely into both sides. I am different and proud to be so. Race does not define me; I define myself. I hope for the time when we stop focusing on race and can all embrace our differences and celebrate them.

Financial Crisis Recovery Essay

1997-1998 Financial Crisis The weaknesses in Asian financial systems were at the root of the crisis that caused largely by the lack of incentives for effective risk management created by implicit or explicit government guarantees against failure. The weaknesses of the financial sector also were masked by rapid growth and accentuated by large capital inflows, which were partly encouraged by pegged exchange rates. In the mid-1990s, a series of external shocks began to change the economic environment – the devaluation of the Chinese Renminbi and the Japanese Yen, rising of U.S. interest rates which led to a strong U.S. dollar, the sharp decline in semiconductor prices; adversely affected their growth. The crisis began in Thailand when the Thai baht collapse of in July 1997 with a series of speculative attacks on the baht extended after quite a few decades of outstanding economic performance in Asia. As the U.S. economy recovered from a recession in the early 1990s, the U.S. Federal Reserve Bank under Alan Greenspan began to raise U.S. interest rates to head off inflation. This made the U.S. a more attractive investment destination relative to Southeast Asia, which had been attracting hot money flows through high short-term interest rates, and raised the value of the U.S. dollar. For the Southeast Asian nations which had currencies pegged to the U.S. dollar, the higher U.S. dollar caused their own exports to become more expensive and less competitive in the global markets. At the same time, Southeast Asia’s export growth slowed dramatically in the spring of 1996, deteriorating their current account position. Many economists believe that the Asian crisis was created not by market psychology or technology, but by policies that distorted incentives within the lender–borrower relationship. Impacts of the crisis to the South East Asia Most of Southeast Asia and Japan having currency depreciation, devalued stock markets and other asset prices, and a precipitous rise in private debt. It were resulting large quantities of credit became available generated a highly leveraged economic climate, and pushed up asset prices to an unsustainable level. These asset prices eventually began to collapse, causing individuals, financial institutions and corporations in the affected countries were bankrupt. A change in market sentiment could and did lead into a violent of currency depreciation, insolvency, and capital outflows, which was difficult to stop. In the year after collapse of the baht peg, the value of the most affected East Asian currencies fell 35-83% against the U.S. dollar (measured in dollars per unit of the Asian currency), and the most serious stock declines were as great as 40-60%. Lenders led to a large withdrawal of credit from the crisis countries, causing a credit crunch and further bankruptcies. Foreign investors attempted to withdraw their money; the exchange market was flooded with the currencies of the crisis countries, putting depreciative pressure on their exchange rates. As a result, short-term economic activity has slowed or contracted severely in the most affected economies like inflation and rising in unemployment. It impossible that the government doing nothing when the crisis happened to their country. To prevent currency values collapsing, countries governments raised fiscal spending in domestic interest rates to exceedingly high levels (to help diminish flight of capital by making lending more attractive to investors) and to intervene in the exchange market, buying up any excess domestic currency at the fixed exchange rate with foreign reserves. But when interest rates were very high, it can be extremely damaging to an economy that is healthy, wreaked further havoc on economies in an already fragile state, while the central banks were hemorrhaging foreign reserves, of which they had finite amounts. As a strategy to maintain competitiveness, policies to strengthen the country’s balance-of-payments account were pursued. For example, exports were encouraged and imports were discouraged, the latter through an increase in import taxes on certain goods and services. Measures to increase exports for providing handouts directly to people affected included reducing the cost of doing business through such means as tax incentives to boost the manufacturing, agriculture, and services sectors. In the case Malaysia for example, there are policies regarding 1997 crisis: Denial and hesitation, the Malaysian government denied that there was a crisis in the first place; Tight fiscal and monetary policies, and restructuring the banking system; Government proposed to use regional currencies instead of the US dollars in inter-ASEAN bilateral trade; and Financing the recovery programs with the total cost of all measures was RM62 billion. While in the case of Indonesia, the government providing assistance to the poor like efforts to shield poor and vulnerable sections of society from the worst of the crisis, by deepening and widening social safety nets and devoting substantial budgetary resources to increasing subsidies on basic commodities such as rice; measures to increase transparency in the financial, corporate, and government sectors; and steps to improve the efficiency of markets and increase competition. Another example of helping the poor and needy, government must be fair and redistribute the wealth equally to them according their basic necessities of life. In Malaysia, the practicing of zakat system and waqaf contribution to help the poor and needy indirectly will benefit the society. Moreover, Bank Rakyat and ar-rahnu market on Islamic pawn-broking will help the small and medium enterprise to expend their business. Government also must allocate the budget expenditure for subsidizing mainly on education, healthcare and housing for the people. The International Monetary Fund (IMF) is an international organization that provides financial assistance and advice to member countries. It was created out of a need to prevent economic crises like the Great Depression. With its sister organization, the World Bank, the IMF is the largest public lender of funds in the world. It is a specialized agency of the United Nations and is run by its 186 member countries. Membership is open to any country that conducts foreign policy and accepts the organization’s statutes. The IMF is responsible for the creation and maintenance of the international monetary system, the system by which international payments among countries take place. A core responsibility of the IMF is to provide loans to member countries experiencing actual or potential balance of payments problems. This financial assistance enables countries to rebuild their international reserves, stabilize their currencies, continue paying for imports, and restore conditions for strong economic growth, while undertaking policies to correct underlying problems. Unlike development banks, the IMF does not lend for specific projects. It thus strives to provide a systematic mechanism for foreign exchange transactions in order to foster investment and promote balanced global economic trade. To achieve these goals, the IMF focuses and advises on the macroeconomic policies of a country, which aff ect its exchange rate and its government’s budget, money and credit management. The IMF will also appraise a country’s financial sector and its regulatory policies, as well as structural policies within the macroeconomic that relate to the labor market and employment. In addition, as a fund, it may offer financial assistance to nations in need of correcting balance of payments discrepancies. The IMF is thus entrusted with nurturing economic growth and maintaining high levels of employment within countries. The large financial packages which the IMF has arranged for countries affected by the Asian crisis and its result have stimulated a debate both among policy-makers and academics as to their costs and benefits. The IMF’s role in providing financial assistance to its members in overcoming short-term balance-of-payment difficulties generally has been evident. Advantages and disadvantages of IMF The IMF offers its assistance which it conducts on a yearly basis for individual countries, regions and the global economy as a whole. However, a country may ask for financial assistance if it finds itself in an economic crisis, whether caused by a sudden shock to its economy or poor macroeconomic planning. A financial crisis will result in severe devaluation of the country’s currency or a major depletion of the nation’s foreign reserves. In return for the IMF’s help, a country is usually required to embark on an IMF-monitored economic reform program, otherwise known as Structural Adjustment Policies (SAPs). An IMF loan provides a cushion that eases the adjustment policies and reforms that a country must make to correct its balance of payments problem and restore conditions for strong economic growth. Supporters argue that the IMF can also impose necessary reforms on an economy. Reforms such as privatization, fiscal responsibility, control of Money supply, and attacking corruption. These policies may cause short term pain, but, are essential for preventing future crisis and long term development. Substantial financial advantages are attached to IMF credits because debtor countries benefit from lower debt service costs. Moreover, commercial banks often demand agreement with the IMF before lending is resumed and generally will charge lower interest rates to countries with an IMF program. The benefits attached to the IMF loan can be regarded as a compensation for the policy adjustments which the debtor countries carry through. At the same time, thanks to the unique role the IMF can play, the costs involved for the creditor countries seem to be rather limited, as the opportunity costs of forgoing the proceeds of alternative investments are relatively small. By temporarily providing finance and at the same time fostering adjustment, member countries could overcome external problems without overly detrimental measures either for their own population or for other countries. The interest rates charged by the IMF in normal circumstances can be relatively low, because the special role of the IMF in the international financial system reduces the risks for the IMF itself as well as for the creditor countries which have provided the resources. Because of its special position the IMF can mitigate the risks attached to its loans. Helped by its low funding costs, the IMF can charge debtor countries lower interest rates than private sector participants which have to charge high spreads because of the sovereign risks involved. Over time, the IMF has been subject to a range of criticisms, generally focused on the conditions of its loans. The IMF has also been criticized for its lack of accountability and willingness to lend to countries with bad human rights record. On giving loans to countries, the IMF makes the loan conditional on the implementation of certain economic policies. These policies tend to involve: * Reducing government borrowing – Higher taxes and lower spending * Higher interest rates to stabilize the currency. * Allow failing firms to go bankrupt. * Structural adjustment. Privatizations deregulation, reducing corruption and bureaucracy. The problem is that these policies of structural adjustment and macroeconomic intervention make the situation worse. For example, in the Asian crisis of 1997, many countries such as Indonesia, Korea and Thailand were required by IMF to pursue tight monetary policy (higher interest rates) and tight fiscal policy to reduce the budget deficit and strengthen exchange rates. However, these policies caused a minor slowdown to turn into a serious recession with mass unemployment. The IMF have been criticized for imposing policy with little or no consultation with affected countries. Jeffrey Sachs, the head of the Harvard Institute for International Development said: â€Å"In Korea the IMF insisted that all presidential candidates immediately â€Å"endorse† an agreement which they had no part in drafting or negotiating, and no time to understand. The situation is out of hand. It defies logic to believe the small group of 1,000 economists on 19th Street in Washington should dictate the economic conditions of life to 75 developing countries with around 1.4 billion people.† Because the IMF lends its money with â€Å"strings attached† in the form of its SAPs, many people and organizations are vehemently opposed to its activities. Opposition groups claim that structural adjustment is an undemocratic and inhumane means of loaning funds to countries facing economic failure. Debtor countries to the IMF are often faced with having to put financial concerns ahead of social ones. Thus, by being required to open up their economies to foreign investment, to privatize public enterprises, and to cut government spending, these countries suffer an inability to properly fund their education and health programs. Moreover, foreign corporations often exploit the situation by taking advantage of local cheap labor while showing no regard for the environment. The oppositional groups say that locally cultivated programs, with a more grassroots approach towards development, would provide greater relief to these economies. Critics of the IMF say that, as it stands now, the IMF is only deepening the rift between the wealthy and the poor nations of the world. Indeed, it seems that many countries cannot end the spiral of debt and devaluation. The relatively low interest rates charged by the IMF can lead to moral hazard behavior on the part of the debtor countries. This is largely reduced through the tough policy measures which the IMF imposes as a condition for its programmers. In practice, most countries do not turn to the IMF if not forced by adverse circumstances. Decisions about which countries may borrow money are made by rich countries. Poor countries have little say about loans and the conditions attached to them. The IMF will only lend money to countries if they agree to certain conditions. These conditions increase poverty. The livelihoods of people in poorer countries are destroyed by unfair competition from foreign goods and services. The IMF does not give good financial advice. Countries have suffered by following it. IMF East Asia Case The IMF was involved in one of the worst East-Asian economic crises thus far. Everything started when Thailand was experiencing difficulties in meeting foreign liability obligations so the IMF intervened by suggested to devalue the Baht. The same suggestion was made to Indonesia, Korea and the Philippine. Soon, South Korea and Taiwan jumped in the trend and Hong Kong and Singapore dollars faced speculative attack. The crisis spread all the way to South America where Brazil and Argentina currency came under attack, but they both stood their grounds and refused to devalue which might have prevented a global financial crisis. Other aspects of the handling of the case that were looked down upon were the issue of the bail-out and the political situation of the borrowing country had once again been ignored. Thailand had already borrowed from the IMF and they were bailed-out very publicly which gave an incentive for surrounding countries to follow very risky projects or decisions, believing that the IMF would be a safety net as opposed to a lender of last resort. This is what happened in South Korea when large, unprofitable investment projects were undertaken, largely due in part to the conglomerates of businesses that are close to the bureaucracy but more importantly, sponsored by the IMF. Likewise, Fund officials protested that many East-Asian countries needed a reform in the banking system and governance, where bad banking, nepotism and corruption do not help create stable and efficient economies. During August – December 1997, the International Monetary Fund signed three emergency lending agreements with Thailand (August), Indonesia (November), and Korea (December). These programs established packages of international financial support at an unprecedented cumulative sum of approximately $110 billion, based on the financing commitments. During the period August to December, the IMF programs failed dramatically to meet the objective of restoring market confidence. In all three countries, the exchange rate was expected to stabilize, but in fact quickly depreciated far below the targets set in the program, and this despite a very sharp increase in interest rates. Foreign investors remained unconvinced about the debt servicing capacity of the private debtors despite the announced availability of IMF loans, and continued to demand the repayment of short-term loans as they fell due. The IMF programs failed to achieve their goal of maintaining moderate economic growth in the Asian countries. The programs also failed on several intermediate goals, including the preservation of creditworthiness, the continuation of debt payments, and the stabilization of the exchange rate at levels that prevailed upon the signing of the original lending agreements Indonesia was deeply affected by the 1997–1998 crises, more so than its East Asian neighbors. Its economic contraction was deeper and more prolonged. It was the only one to experience a (temporary) loss of macroeconomic control. Eight years have passed since the collapse of Suharto’s New Order regime on the heels of the economic crisis of 1997–1998. During that time, Indonesia’s economy contracted by over 13% in 1998 alone. This followed three decades of virtually uninterrupted rapid economic growth and led to deep social and political crises. Although countries such as South Korea and Thailand were able to overcome their economic crises in a few years, Indonesia’s crisis resolution has been complicated by political instability, at least until 2004, and by a slower recovery. Indonesia was formally under International Monetary Fund management from 1997 to the end of 2003. But the presence of the IMF actually increased the severity of the Indonesian economy, not more than one year after that; there were capital flight out of the country that led to massive unemployment, compounded by the drastic decline in the exchange rate. At the end of 1998 more than 50% of Indonesia’s population lives below the poverty line. One of the IMF’s policy prescriptions is to close 16 banks and it caused the anger of people and withdraws their money in national banks and some foreign banks. In May 1998, due to an agreement between the IMF and Suharto, the government revoked subsidies for food, and raises the price of oil and electricity. This policy had a strong opposition from the people and not long after that, Suharto regime fell. During Megawati regime, in August 2003 the government finally decided not to continue the IMF program and choose to enter the post-program monitoring. The government option raises the consequences that are not much different. IMF can still continue to dictate economic policy in Indonesia because the government still had to consult every economic policy that will be taken with IMF. The Indonesian government announced that they would pay the remaining debt to the IMF, totaling U.S. $ 7.8 billion, within 2 years. It seems to be the correct political decision to break away from the economic policy interventions that has continued since the crisis in 1997. 2008 Financial Crisis Triggered by events in The US and EU The cause or trigger of the 2008 global financial crisis was the boom of the United States housing bubble which peaked in approximately 2005–2006. Since banks began to give out more loans to potential home owners, housing prices began to increase. The increase in house price and improvement of construction activity started around 1992. At that time the Federal Reserve was holding its policy interest rate at an unusually low level by the standards of the past few decades. The good times lasted until 2005, when monetary policy was tightening after another spell of low interest rates. Over that period, construction activity contributed 1/5 percentage points annually to the growth rate of real GDP, and the share of employment in construction and finance, out of the total workforce, rose from 10 ¼ percent to 11 ¾ percent. That is, over this period, of the 27.4 million people added to work rolls (which ended 2006 with a total of 136 million), 4.8 million were directly related to construction and fifi nance. Finally, the nation was left with an excess stock of housing. A contraction in construction transpired to wind down the inventory overhang, which is often a feature of economic slowdowns and recessions. In addition to that, easy lending standards also contributed to the Real estate bubble. Loans of various types (e.g., mortgage, credit card, and auto) were easy to obtain. As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. That kind of financial innovation attracted institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses. While the housing and credit bubbles were expanding, US Government was going a process called financialization. US Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that â€Å"the crisis was avoidable and was caused by: 1. Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; 2. Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; 3. An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; 4. Key policy makers ill prepared for the crisis, 5. Lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels.†[35][36] Table 1 The Causes and Impacts of Global Financial Crisis Taken from Takatoshi Ito â€Å"Comparison of the Financial Crises: Japan and Asia in 1997-1998 vs. U.S. 2008-09† The Collapse of World Trade Although the crisis is originally from financial sector, trade had great implication that hit countries around the world. Exports collapsed in nearly every major trading country, and total world trade fell faster than it did during the Great Depression. From a peak in July 2008 to the low in February 2009, the nominal value of world goods exports fell 36 percent; the nominal value of U.S. goods exports fell 28 percent (imports fell 38 percent) over the same period. Even a country such as Germany, which did not experience their own housing bubble, experienced substantial trade contractions, which helped spread the crisis. The collapse in net export in Germany contributed to the decline in their GDP which put the country into recession. In the fourth quarter of 2008, Germany’s drop in net exports contributed 8.1 percentage points to a 9.4 percent decline in GDP (at an annual rate); Japan’s net exports contributed 9.0 percentage points to a 10.2 percent GDP decline. Real exports fell even faster in the first quarter of 2009. The Decline in Output Around the Globe The financial crisis was rapidly transmitted to the real economy. The financial disruption was so strong and swift in most countries so that their confidence level in economy fell as well. Confidence levels are measured in different ways across countries, but they were generally falling throughout 2008 and reached recent lows in the fall of 2008 and winter of 2009. As noted, world GDP is estimated to have fallen roughly 1.1 percent in 2009 from the year before. In advanced economies, the crisis was even deeper; the IMF expects GDP to have contracted 3.4 percent in advanced economies for all of 2009. For OECD member countries, GDP fell at an annual rate of 7.2 percent in the fourth quarter of 2008 and 8.4 percent in the first quarter of 2009. Despite the historic nature of its collapse, the U.S. economy actually fared better than about half of OECD economies during those quarters. The decline in industrial production across major economies, each of these economies in January 2009 was more than 10 percent below its January 2008 level, and Japan faring far worse relative to the other major economies. Impact on Developing Countries The impact of the crisis on developing countries will affect different types of international resource flows: private capital flows such as Foreign Direct Investment (FDI), portfolio flows and international lending; official flows such as development finance institutions; and capital and current transfers such as official development assistance and remittances. The World Association of Investment Promotion Agencies foresees a 15% drop in FDI 2009. FDI to Turkey has already fallen 40% over the last year and FDI to India dropped by 40% in the first six months of 2008. FDI to China was $6.6 billion in September 2008, 20% down from the monthly average in year 2008 so far, and mining investments in South Africa and Zambia have been put on hold. The crisis has led to a drop in bond and equity issuances and the sell-off of risky assets in developing countries. The average volume of bond issuances by developing countries was only $6 billion between July 2007 and March 2008, down from $ 15 billion over the same period in 2006. Between January and March 2008, equity issuance by developing countries stood at $5 billion, its lowest level in five years. As a result, World Bank research suggests some 91 International Public Offerings have been withdrawn or postponed in 2008. However, not all developing countries were effected tremendously by 2008 financial crisis. In South East Asia we may take a look Indonesia performance towards the 2008 financial crisis. Indonesia experienced a significant macroeconomic shock at the end of 2008. But, of course, Indonesia was not on its own. Indeed, Indonesia was one of the least affected countries in South East Asia. Although GDP growth slowed markedly to 4.4% in the first quarter of 2009, it did not experience the collapse in growth experienced by countries such a Korea, Thailand and Malaysia. Indonesia’s growth in recent years has been driven predominantly by non-tradeables rather than tradeables, and, although the crisis reduced growth across the board, sectors such as transport and communications, and utilities have continued to grow in double digits. At the same time, the tradeable sector which has performed best is agriculture, which, at 4.8%, has experienced its strongest growth since the East Asian crisis, helping to compensate for the effects of the crisis. Indonesia has learnt from 1997 crisis so that they can manage 2008 financial crisis well. The Role of International Institutions of The G-20 The G-20, which includes 19 nations plus the European Union, is the the main nations of much of the coordination on trade policy, financial policy, and crisis response. Its membership is composed of most of the world’s largest economies and makes up nearly 90 percent of world gross national product. The first G-20 leaders’ summit was held at the peak of the crisis in November 2008. At that point, G-20 countries committed to keep their markets open, adopt policies to support the global economy, and stabilize the financial sector. The second G-20 leaders’ summit took place in April 2009 at the height of concern about rapid falls in GDP and trade. Leaders of the world’s largest economies pledged to â€Å"do everything necessary to ensure recovery, to repair our financial systems and to maintain the global flow of capital.† Furthermore, they committed to work together on tax and financial policies. Perhaps the most notable act of world coordination was the decision to provide substantial new funding to the IMF. U.S. leadership helped secure a commitment by the G-20 leaders to provide over $800 billion to fund multilateral banks broadly, with over $500 billion of those funds allocated to the IMF in particular. In September 2009, the G-20 leaders met in Pittsburgh. They noted that international cooperation and national action had been critical in arresting the crisis and putting the world’s economies on the path toward recovery. They also recognized that continued action was necessary, pledged to â€Å"sustain our strong policy response until a durable recovery is secured,† and committed to avoid premature withdrawal of stimulus. They launched a new Framework for Strong, Sustainable, and Balanced Growth that committed the G-20 countries to work together to assess how their policies fit together and evaluate whether they were â€Å"collectively consistent with more sustainable and balanced growth.† Further, the leaders committed to act together to improve the global financial system through financial regulatory reforms and actions to increase capital in the system. It set up emergency lines of credit (called Flexible Credit Lines) with Colombia, Mexico, and Poland, which in total are worth over $80 billion. These lines were intended to provide immediate liquidity in the event of a run by investors, but also to signal to the markets that funds were available, making a run less likely. In each of these countries, markets responded positively to the announcement of the credit lines, with the cost of insuring the countries’ bonds narrowing (International Monetary Fund 2009b). The IMF also negotiated a set of standby agreements with 15 countries, committing a total of $75 billion to help them survive the economic crisis by smoothing current account adjustments and mitigating liquidity pressures. IMF analysis suggests that this program discouraged large exchange-rate f in fluctuate in these countries (International Monetary Fund 2009). These actions as well as the very existence of a better-funded global lender may have helped to keep the contraction short and to prevent sustained currency crises in many emerging nations. The Government Responses The U.S. executed two stimulus packages, totaling nearly $1 trillion during 2008 and 2009. The U.S. Federal Reserve’s new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity. United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. The response of the Federal Reserve, the European Central Bank, and other central banks was taken shortly and dramatic. During the last quarter of 2008, these central banks purchased US$2.5 trillion of government debt and troubled private assets from banks. The governments of European nations and the USA also raised the capital of their national banking systems by $1.5 trillion, by purchasing newly issued preferred stock in their major banks. In October 2010, Nobel laureate Joseph Stiglitz explained how the U.S. Federal Reserve was implementing another monetary policy —creating currency— as a method to combat the liquidity trap. By creating $600,000,000,000 and inserting this directly into banks, the Federal Reserve intended to spur banks to finance more domestic loans and refinance mortgages. However, banks instead were spending the money in more profitable areas by investing internationally in emerging markets. The bank bailout, more formally called the Troubled Asset Relief Program, failed to achieve the ultimate goal. The goal of these bailouts from the perspective of the largest financial institution is billions of dollars in taxpayer money allowed institutions that were on the brink of collapse not only to survive but even to flourish. The legislation that created TARP, the Emergency Economic Stabilization Act, had far broader goals, including protecting home values and preserving homeownership. Congress was told that TARP would be used to purchase up to $700 billion of mortgages and to obtain the necessary votes, Treasury promised that it would modify those mortgages to assist struggling homeowners. However, almost immediately, as permitted by the broad language of the act, Treasury’s plan for TARP shifted from the purchase of mortgages to the infusion of hundreds of billions of dollars into the nation’s largest financial institutions, a shift that came with the express promise that it would restore lending. Treasury, however, provided the money to banks with no effective policy or effort to force the extension of credit. There were no strings attached: no requirement or even incentive to increase lending to home buyers, and against our strong recommendation, not even a request that banks report how they used TARP funds. It raised the issues on accountability in providing the bailouts. Lesson Learnt from 2008 Crisis There are several lessons that can be learnt from 2008 financial crisis. Those lessons are stated below : 1. Aggregate volatility is part of market system. There is a need to have more depth study of aggregate volatility. 2. Long lived large firms (such as financial institutions) may not be fully trusted. We should rethink the role of reputation of firms in market transactions. In addition, we need to revisit the key elements of the economy of organization so that reputation should be derived from the behavior not merely from the asset. 3. Economic growth will only take place if there is real increase in the real commodities not financial commodities. 4. People mistakenly equated free markets with unregulated markets. 5. Policy makers should be flexible in their policies and guided by overall national objectives. 6. All trading countries should diversify both their exports composition as well as export destination. 7. World financial system is becoming fragile so that there is a need to reform the current financial system. Islamic based economy system has great opportunity to alter the existing financial system. Islamic perspective From Islamic perspective, the approach that most suitable which is providing handout to the poor and directly to people affected by financial contracts. There were horrible gaps between the rich and the poor all over the world, which remained existent all the time, even after the fall of the planned economy. It goes without saying that the position in developing and under developed countries is even worse. This uneven and unjust system of distribution needs to be reformed on a conceptual basis. The entire world today is crying on the present financial crisis, but few people have realized that this is basically a crisis of rich people who were playing with loads of wealth, and all of a sudden, their income faced a steep fall. So far as poor people are concerned, they have been living in perpetual crisis all the times, but no one care for them, The present crisis should not be examined within the relatively narrow confines of debt; rather, it is fundamentally a question of social justi ce, a concept that is paramount in Islam. Social justice includes three aspects, namely a fair and equitable distribution of wealth; the provision of basic necessities of life to the poor and the needy; and protection of the weak against economic exploitation by the strong. The debt burden, however, is increasing inequality between rich and poor countries and is tantamount to exploitation. It also means that poor countries are often unable to provide the most basic services for their citizens. The huge debt that currently burdens poor countries has arisen from loans that have charged interest and have not shared risk between the lender and the borrower and have, therefore, contravened the two most fundamental principles of Islamic finance. Islamic commands to refrain from charging interest and to share financial risk seek to avoid the concentration of wealth and the economic exploitation of the weak and thereby prevent situations such as the current debt crisis from arising in the first place. The core belief in Islamic finance is that money should not in itself be an earning asset; therefore, Islam prohibits any and all forms of interest. There are also other systems which prevent an economic crisis of pandemic proportions to arise; contractual relationships in business, finance or trade must be based on trust and familiarity of networks of common experiences (takaful) which implies that debts cannot be repackaged and resold as assets globally to faceless investors while profit must be redistributed directly to the poor (zakat) in the Holy month of Ramadan to build and strengthen social safety nets through institutions of charity welfare and education. Over and above zakat, all Muslims pay zakat fitrah to the poor, during the month of Ramadan, either through state collection centers or direct contributions to the poor. There is a trend within rural areas to identify destitute families and the disabled within the underserved rural areas of the State where they reside. Over the last few years, increasing realization of a topic poverty during an economic crisis creating the new poor among the Muslim working classes and a bnormally high repayment rates through unlicensed loan-sharks and licensed money-lenders have made national banking institutions which serve the poorer rural communities shift their services to the Ar-Rahnu market or Islamic pawn-broking market. Currently four Islamic financial institutions, Bank Rakyat (The People’s Bank); the Yayasan Pembangunan Ekonomi Islam Malaysia (Islamic Foundation of Economic Development, Malaysia); Permodalan Kelantan Bhd (Kelantan Investment Co.); and the Agro bank offer such services to the rural and urban working classes. It has established an Ar-Rahnu X’Change Franchise Network, where it plans to provide an Ar-Rahnu franchise throughout the country, managed by reputable cooperatives of the working classes. Given the acute dependency of the working classes on ready cash in times of emergency and the high rates of interest in regular pawn-broking market, there seems to be few alternatives except to expand the Ar-Rahnu market among Muslims and non-Muslims and charge the poor for ‘safekeeping’ services, rather than interest. Despite the fact that loan disbursements of Bank Rakyat alone is among the services which have contributed to Bank Rakyat’s amazing rise as a successful national cooperative bank, giving out higher than normal dividends to its share holders, loan sharks are virtually setting up desks outside flats and apartment buildings of the Muslim poor in towns and cities to offer cash and carry’ facilities to the desperately poor. This lucrative market speaks volumes of the rise of atopic poverty among those on or below the poverty line, the inadequacy of zakat and disbursements of zakat, the high dependency on regular income earners among the middle classes for welfare driven services and products and unclear nature of the rising wealth of the Muslim and non-Muslim upper classes in Malaysia The Islamic finance can bring on significant gains in money released into public capital and infrastructure. The redistributive mechanisms of surplus are instituted into welfare based institutions such as free or subsidized education, health and child care, education, and even publicly directed employment. Its principles may differ from modern welfare economics except the gains at the far end of the redistributive machinery are similarly directed towards the poor. The policies of the New Economic Policy in Malaysia, state welfares in Brunei, or publicly instituted employment as in MENA countries are more Islamic than regul ar, except they are part of the post-colonial ‘reformist’ policies of Muslim states which preceded the modern up-beat drive towards Syaria’ah compliant finance. Islamic finance, however, has not demonstrated a clear connectivity with redistributive justice as in the post-colonial political economy except through instituted deductions of zakat from dividends of shareholders. Profits from credit or financial corporations are not necessarily redistributed through zakat. Furthermore, for borrowers, the appreciated value of assets and services as forecasted and built into systems and rates of repayments which compensate for the lack of interest and, in reality, repayment rates may even out with the regular—rates are generally fixed in advance unlike regular interest rates which are more flexible, varying according to market conditions. However, it does allow more capital to be released into projects immediately, allowing a more extensive amount of goods and services to be produced, without the worry of serving loans. One, however, has to be assured of significant productivity even in the early stages of the loan but payments of zakat accruing from successful investment, from the financier or production from the borrower are fixed at a low rate of 2.5%. It is also consensual rather than forced (as in income taxation) and Muslim countries in general pur sue income tax collections as the more important thrust of national revenue. There are generally two disparate systems at work in Muslim countries Islamic finance and post-colonial welfare instituted economics. The welfare inputs in Islamic countries which are operational today proceed whether or not there are institutions of Islamic finance in the country. In Malaysia, Brunei, and the MENA countries discussed in this paper, components of welfare economics in heavily subsidized education, health, housing, farming, and welfare for the poor, are part of a post-colonial legacy of social reform to institute economic parity across groups and classes. In these Muslim nations, the public sector has played an important role in employment for Muslim or indigenous citizens, often acting as a social safety net in times of economic crises. However, these welfare driven policies are subject to much criticism since they favour the poor, encourage low productivity, and a non-competitive public sector. As Islamic institutions of welfare catch on with progressive social educa tion through media and networks and become an alternative system of welfare for poorer Muslims through zakat and other contributions, welfare increasingly becomes a social responsibility of the Muslim middle classes. There is hardly any data on how the profits earned by larger corporations of Islamic finance actually become instituted into a system of welfare economics based in Islam. Private investment trusts of political elites or national trusts controlled by them. In a properly instituted system of redistribution, through wages, salaries, educational, and health subsidies and so on, there should be very little wealth differential between the owners of political Capital and citizens but economic disparities are significant in these Muslim countries and it has been shown how gains among the lowest 20% may be offset by higher or equivalent gains among the top 20% income earners of these nations. The production of stable professional middle classes in these nations has led to an enrichment of social capital and welfare driven redistributive institutions through social networks but Islamic conscientisation had sometimes moved this ‘spiritual gain’ as an objective reality. The belief i n ibadah or ‘to do good’ may outweigh the call for greater transparency in the use of national collections of zakat and so on. Many Muslims in Malaysia pay both income tax and zakat, rather than ask for exemption from income tax. They also maintain Islamic voluntary organizations with personal funds, donate to mosques and charities, and make endless food contributions to orphans and the poor. There is very little data gathered on the actual amounts paid privately or anonymously and state-directed contributions, although increasing, are not reflective of actual payments contributed by the middle classes towards Islamic charitable institutions. On the other hand, Muslim based banking and financial institutions are obscure in their social responsibility towards the poor, including their own clients who may be victims of topic poverty during times of economic crises. In conclusion, Islamic institutions of trusts which are state directed or privately administered by banking and credit agencies contain more humanistic principles of investment and redistribution of profits except that there is a missing component—between the principles of redistribution of surplus or profits in Islam finance and the actual mechanisms to provide welfare to the people who are not share-holders or stake-holders. In Malaysia, Brunei, and the MENA countries of the Middle East and North Africa, state agencies assume trusteeships over compulsory collections like the zakat but do not have any institutional mechanisms to enforce private corporations local or foreign to contribute towards the welfare of the poor. Conclusion The first Financial crisis was began in July 1997 when the Thai baht collapse with a series of speculative attacks on the baht extended after quite a few decades of outstanding economic performance in Asia and most of Southeast Asia and Japan having currency depreciation. There some approach to help financial recovery, It is impossible that the government doing nothing when the crisis happened to their country. To prevent currency values collapsing, governments raised fiscal spending in domestic interest rates to exceedingly high levels. And last approach Government providing handouts directly to people affected and providing assistance to the poor like efforts to shield poor and vulnerable sections of society from the worst of the crisis The International Monetary Fund (IMF) is an international organization that provides financial assistance and advice to member countries. It was created out of a need to prevent economic crises like the Great Depression. The large financial packages which the IMF has arranged for countries affected by the Asian crisis and its result have stimulated a debate both among policy-makers and academics as to their costs and benefits. However, IMF has also been criticized for its lack of accountability and willingness to lend to countries with bad human rights record Debtor countries to the IMF are often faced with having to put financial concerns ahead of social ones The cause or trigger of the 2008 global financial crisis was the boom of the United States housing bubble which peaked in approximately 2005–2006. The impact of the crisis on developing countries will affect different types of international resource flows: private capital flows such as Foreign Direct Investment (FDI). However, not all developing countries were effected tremendously by 2008 financial crisis, Indonesia was one of the least affected countries in South East Asia. The G-20, is the the main nations of much of the coordination on trade policy, financial policy, and crisis responses. The first G-20 leaders’ summit was held at the peak of the crisis in November 2008. The bank bailout, more formally called the Troubled Asset Relief Program, failed to achieve the ultimate goal From Islamic perspective approach that most suitable which is providing handout to the poor and directly to people affected by financial contracts the present crisis should not be examined within the relatively narrow confines of debt, rather it is fundamentally a question of social justice, a concept that is paramount in Islam. The practicing of zakat system and waqf contribution to help the poor and needy indirectly will benefit the society. And this is the best approach that government should do by providing help directly to the poor and people affected by financial contract namely firms and banks. If government reduced the amount tax to be paid, cost of production will decrease level of employment and production will increase. Meanwhile, banks will bail out to save company and people indirectly reduced the worry of public causing the level of borrowing and consumption raises. So, as a result, it can stimulate the capital investment of the economy to increase the economic growth and level of GPD. References Fadillah Putra, â€Å"Economic Development and Crisis Policy Responses in Southeast Asia (Comparative study of Asian Crisis 1997 and Global Financial Crisis 2008 in Malaysia, Thailand and the Philippines)† (2008), Public Administration Department, Brawijaya University Federal Reserved Bank of San Francisco Economic Letter †What Caused East Asia’s Financial Crisis?† 98-24; August 7, (1998) Hussein Alasrag, â€Å"Global Financial crisis and Islamic finance† (2007) http://www.muftitaqiusmani.com/index.php?option=com_content&view=article&id=41:present-financial-crisis-causes-and-remedies-from-islamic-perspective-&catid=12:economics&Itemid=15,retrieve on 11 November 2012 http://www.academia.edu/1133515/Global_Financial_Crisis_An_Islamic_Perspectiv e, retrieve on 4 November 2012 http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008#cite_note IMF_Loss_Estimates-31, retrieve on 4 November 2012 Mohamed Ariff, Syarisa Yanti Abubakar,†The Malaysian Financial Crisis: Economic Impact and Recovery Prospects† (1999) The Developing Economies, XXXVII-4: 417–38 Reinhart, V. (2011). A year of living dangerously : The Management of the Financial Crisis in 2008. Journal of Economic Perspective.25 (1). Pg 71-90. Ibid Recovery from the Asian Crisis and the Role of the IMF, IMF Staff (2000) http:// www.investopedia.com/articles/economics/09/international- monetary-fund imf.asp#axzz2EQhoHzz9, retrieve on 4 November 2012 http://www.nrcc.org/default/Issues2012/2012_Issues_Book_Chapter_Financial_Crisis_Bailouts_and_Financial_Reforms ——————————————– [ 1 ]. Federal Reserved Bank of San Francisco Economic Letter: What Caused East Asia’s Financial Crisis? 98-24; August 7, 1998 [ 2 ]. Federal Reserved Bank of San Francisco Economic Letter: What Caused East Asia’s Financial Crisis? 98-24; August 7, 1998 [ 3 ]. www.wikipedia.com [ 4 ]. www.wikipedia.com [ 5 ]. www.wikipedia.com [ 6 ]. Federal Reserved Bank of San Francisco Economic Letter: What Caused East Asia’s Financial Crisis? 98-24; August 7, 1998 [ 7 ]. www.wikipedia.com [ 8 ]. Mohamed Ariff, Syarisa Yanti Abubakar, (1999) The Malaysian Financial Crisis: Economic Impact and Recovery Prospects: The Developing Economies, XXXVII-4: 417–38 [ 9 ]. Economic Development and Crisis Policy Responses in Southeast Asia (Comparative study of Asian Crisis 1997 and Global Financial Crisis 2008 in Malaysia, Thailand and the Philippines) Fadillah Putra, Public Administration Department, Brawijaya University [ 10 ]. Recovery from the Asian Crisis and the Role of the IMF, IMF Staff (2000) [ 11 ]. http://www.investopedia.com/articles/economics/09/international-monetary-fund-imf.asp#axzz2EQhoHzz9 [ 12 ]. http://www.twnside.org.sg/title/sick-cn.htm [ 13 ]. Reinhart, V. (2011). A year of living dangerously : The Management of the Financial Crisis in 2008. Journal of Economic Perspective.25 (1). Pg 71-90. [ 14 ]. Ibid [ 15 ]. Ibid [ 16 ]. Ibid [ 17 ]. Wikipedia. Financial Crisis 2007. Taken from http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008#cite_note-ssrn-8 [ 18 ]. Wikipedia. Financial Crisis 2007. Taken from http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008#cite_note-IMF_Loss_Estimates-31 [ 19 ]. Ibid [ 20 ]. â€Å"Greenspan-We Need a Better Cushion Against Risk†. Financial Times. March 26, 2009. Taken from http://www.ft.com/cms/s/0/9c158a92-1a3c-11de-9f91-0000779fd2ac.html. [ 21 ]. FCIC Report-Conclusions Excerpt-January 2011. Taken from http://c0182732.cdn1.cloudfiles.rackspacecloud.com/fcic_final_report_conclusions.pdf [ 22 ]. CRISIS AND RECOVERY IN THE WORLD ECONOMY. Taken from http://www.whitehouse.gov/sites/default/files/microsites/economic-report-president-chapter-3r2.pdf [ 23 ]. Ibid [ 24 ]. Ibid [ 25 ]. Ibid [ 26 ]. Ibid [ 27 ]. Ibid [ 28 ]. Velde, D. W. (2008). Effects of the Global Financial Crisis on Developing Countries and Emerging Markets. Policy responses to the crisis. INWENT/DIE/BMZ conference in Berlin, 11 December 2008. [ 29 ]. Ibid [ 30 ]. Ibid [ 31 ]. Ibid [ 32 ]. Ibid

Epistles Of The French Revolution English Literature Essay

â€Å" It is with sorrow that I pronounce the fatal truth: Louis ought to die instead than a 100 thousand virtuous citizens ; Louis must decease that the state may populate † A Maximilien Francois Robespierre â€Å" Justice has its choler, my Godhead Bishop, and the wrath of justness is an component of advancement. Whatever else may be said of it, the Gallic Revolution was the greatest measure frontward by world since the coming of Christ. It was unfinished, I agree, but still it was sublime. It released the untapped springs of society ; it softened Black Marias, appeased, tranquilized, enlightened, and set fluxing through the universe the tides of civilisation. It was good. The Gallic Revolution was the anointment of humanity. † Victor Hugo â€Å" Liberty, equality, fraternity, or decease ; – the last, much the easiest to confer, O Guillotine! † Charles Dickens ( A Tale of Two Cities ) Helen Maria Williams was a adult female in front of her clip. While composing letters place to England during the Gallic Revolution, the convulsion and political turbulence around her closely mimicked the convulsion she was sing personally. An friendless amongst her friends, Williams ‘ observations and devastation are evident in her Letterss Written in France, in the Summer of 1790, a aggregation of her Hagiographas to friends and household still in England. As a adult female efficaciously on the front lines of war, Williams was able to capture the world of the revolution and record her observations in Letters, the recognized composing medium of adult females. Romanticism was an rational motion which began around the latter half of the eighteenth century and is was defined largely by alteration. Most humanistic disciplines, like music, poesy, literature, and even political relations began to accommodate in response to the disruptive societal clime seen in France during the Revo lution. Romanticism emphasized emotion, imaginativeness, and originality, which was in blunt contrast to the scientific discipline, ground and order defined by the â€Å" Age of Enlightenment † which came after the Revolution. Romanticism, as opposed to Enlightenment, concentrated more on the single author or creative person themselves, as opposed to the province or ground. Both ocular humanistic disciplines and literature, from the Romanticism motion, elevated and famed Nature as a wild Being, instead than as something that can easy be explained ground or survey. The Romanticism motion in literature evolved in response to the Gallic Revolution and instead than concentrate on ground and reason to explicate nature and adult male, Romanticism focused more on emotions and feelings to explicate and portray them. The poesy and Letters of Helen Maria Williams espouse the Romanticism ideals as they portend the hereafter of feminism and adult females who live their lives for themselv es. Helen Maria Williams straight confronted the ideals of the Revolution. Williams had relocated to Paris in 1792, and she was imprisoned for a short clip in the Bastille during the Reign of Terror. Both her clip in prison, and the atrociousnesss she witnessed during the Revolution, personally influenced her and straight influenced the tone of much of her work. While captive, Williams wrote many of her verse forms, like â€Å" Sonnet to the Curlew † , which trade with freedom and yearning. In the â€Å" Curlew † verse form, Williams identifies with a curlew and wants she could be every bit free as he is upon the air current. As Williams faced the Revolution of France, she began to confront a revolution of her ain that was reminiscent of the ideals of both Romanticism and Feminism. During her early old ages in France, Williams began a relationship with John Hurford Stone, a married Englishman and extremist militant. Though Stone divorced in 1794, it is ill-defined whether Williams and Stone of all time married and their relationship caused a dirt in England which resulted in Williams being personally attacked by the British imperativeness. Before Williams foremost visited France in 1790, she had been celebrated as a all right, feminine poet. After publically placing with the Revolution, Williams was denounced as a unblushing adult female who had developed debased political and sexual propensities. She had become a adult female who had â€Å" betrayed both her state and her sex † ( Blakemore 676 ) . In a Gentleman ‘s Magazine, a referee of her Letterss from France said of Williams â€Å" [ s ] he has debased her sex, her bosom, her feelings, her endowments in entering such a tissue of horror and villainousness and make bolding to diss a regular authorities and a happy people [ i.e. , the English ] with such inside informations, whose consequence, we defy her to demo has yet been productive of one individual good † ( Adams 114 ) . Horace Walpole, Earl of Orford, referred to Williams as â€Å" a scribbling slattern † in his Correspondence and in Anti-Jacobin Review and Magazine, Williams was portrayed as Lechery in a emanation of the Seven Deadly Sins. The magazine went so far as to province, â€Å" [ Williams has ] an inveterate hatred of all bing constitutions, by an earnest desire to advance their devastation, and by a disdain of truth, decency, and decorousness, which constitute the general features of a female head infected with the toxicant of democracy † ( Blakemore 676 ) . Williams was vilified by the imperativenesss, both at place and abroad, and it is apprehensible that she would seek a more hospitable venue to name place. For Williams, that welcoming topographic point was a state in the throes of civil war. In June 1794, Williams and Stone fled to Switzerland after a jurisprudence was passed by Maximilien de Robespierre necessitating all aristocracy and aliens leave Paris under punishment of jurisprudence. Williams and Stone remained in Switzerland for 6 months, and she wrote Tour in Switzerland which dealt with subjects including political relations, history, and nature. In response to the effects of the revolution, Williams said that she appreciated what the Revolution had done for adult females ‘s rights, but she openly condemned the force needed to accomplish it. In her letters, Williams ‘ response to the Revolution varies, frequently comparing the feminine civilization of the Revolution with the â€Å" Antient authorities of France † and she condemns the force much as she had during the American Revolution. aˆÂ ¦The executioner held up the hemorrhage caput, and the guards cried ‘Vive La republique! ‘ [ ‘Long live the democracy! ‘ ] Some dipped their hankies in the blood-but the greater figure, chilled with horror at what had passed, desired the commanding officer would take them immediately from the topographic point. The hair was sold in separate braids at the pes of the scaffold ( 100 ) . After depicting the scene of King Louis XVI ‘s decease by closure by compartment, Williams describes the wake in an about composure and calm voice, as though she had become asleep to the force of the Revolution aˆÂ ¦The devastation of the monarchy in France on the 10th of August-the horrors of the slaughter of the 2d of September, and so the decease of the male monarch, eventually alienated the heads of Englishmans from the Gallic revolution ; rendered popular a war, which otherwise no curate would hold dared to set about ; disgusted all wise, and shocked all human work forces ; and left to us, and all who had espoused the cause, no hope but that Heaven, which knows how to convey good out of immorality, would watch over an even so interesting to the public assistance to mankind as the Gallic revolution ; nor suffer the folly and frailty of the agents concerned in it, to botch the greatest and noblest endeavor of all time undertaken by a state ( 100 ) . Laetitia Matilda Hawkins, a coeval of Williams, wrote a response to each of Williams ‘ letters warning Williams for her positions on the Revolution Hawkins ‘s Letters conveys a sense of pressing crisis ; for her, the Revolution is a foreign invasion endangering English life and English womanhood-a Revolution turning the natural order upside down. She bases her response to Williams ‘s Letterss on a reading of the first two series ( in the Scholars ‘ Facsimiles & A ; Reprints edition, 1:1.1-223 ; 1:2.1-206 ) , in which Williams celebrates the function of adult females in the Revolution every bit good as their â€Å" topographic point in the universe † ( 1:1.27-8 ) ( Blakemore 677 ) . Although Williams seemed to appreciate what the Revolutionary civilization did for adult females, she did non O.K. of the force used to accomplish the alteration. Williams was going a newer, more self-asserting and unchained adult female than she was earlier. â€Å" In the old ages predating the Gallic Revolution, a patriarchal political orientation stressing proper female behaviour, the â€Å" natural domestic function of adult female, and her biddable subordination to her hubby ( underscored in assorted scriptural texts ) had been in topographic point for centuries † ( Blakemore 673 ) . After sing societal turbulence, imprisonment, expatriate from her adopted fatherland, and the loss of some of her closest friends, Williams emerged as a adult female who was non afraid to populate her life her ain manner. In Paris, as in London, Williams was introduced to and hosted many outstanding intellectuals and literary figures in her salon, such as Thomas Paine and Mary Wollstonecraft. Williams ‘ salon rapidly became a meeting topographic point for outstanding Girondins, but as the Jacobins gained power, many of her friends were arrested and executed. Williams wrote in a manner acceptable for adult females ‘s Hagiographas, the epistolary. Despite the controversial content of her Letters, Williams ‘ Hagiographas received by and large positive reappraisals from many English magazines. What negative reaction her authorship received, was in response to the manner and vocabulary she chose because she would frequently utilize Gallic colloquialisms and spellings which alienated many of her English readers. Williams lost about everything she held beloved during the Gallic Revolution. She had lost her fatherland, her freedom-for a clip, her friends, but she refused to lose herself. Because of Williams ‘ Letterss, readers have a adult female ‘s first-hand history of the political and societal turbulence seen during the Revolution. The singularity of the history contained within her Letters has assured Williams a topographic point in women's rightist survey, irrespective if that was her original purpose. Williams personifies all the ideals of Romanticism within herself and her writings-emotional entreaty to trepidation, horror and awe-and the sublimity of wild nature.

Examine and Analyze the Cause of Crime Essay Example

Examine and Analyze the Cause of Crime Essay Example Examine and Analyze the Cause of Crime Essay Examine and Analyze the Cause of Crime Essay Examine and Analyze the cause of crime Tasha M. Oliver Everest University Online ABSTRACT Analyzing the causes of crime, in the context of a visual task. Biological, Behavioral, and Personality is the way of figuring out why a person becomes a criminal. Using these three theories biological behavioral, and personality will show that when a person is born with certain traits they are born criminals, but my report will also show that using these three theories can not determined if a person is born to be a criminal. Keywords: Analyzing, visual task, figuring out, data, traits. When analyzing the causes of crime I will show how using these three theories biological, psychodynamic, and personality can determined if a person is born a criminal. When a person is born they start out with the biological aspects of there parents, which means that if a parent has been a criminal for his entire life it is more than likely that his unborn child will follow in his fathers path. If you born with a low birth weight due to your mother not staying healthy during her pregnancy. If she was smoking during her pregnancy she is causing you to get less oxygen to your brain which can cause you to be unstable to where your biological balance is broken. That balance is to help you grow to think and make proper choices. Your personality will be effected and because of this inbalance you may be more aggressive toward your peers in your childhood and adult life. That same inbalance will have a big psychological problem to where you cant think straight or have feeling for yourself or others. When an adolescent starts showing criminal traits this adolescent is taking for testing to find out what is causing this type of behavior. In their findings they will see that at birth his/her mother didn’t eat properly or take any kinds of vitamins. Now this adolescent is put into a cagatory as a juvenile delquent with the other delinquents in the same position for example: A child was born on August 9th 1976 his name is Luis R. Ponce jr. , his father was very abusive towards his mother and always in and out of jail. When this child was about 2 yrs old his father abonden his mother and left him without an father. His father was always a problem child and all the way till his adult life which had landed him in jail nuermous times and was also the cause of his death. His fathers past made his future because he followed in is fathers foot steps. As Luis was growing up he was always in trouble either with school or the law. As and adult Luis try to stay straight and narrow but his biological traits from his father he still following on what his father has done. And Luis is catorgized with the same group of males who grow up in single homes with a father who had a criminal background. That’s why an Italian army physician Cesare Lombroso did a study on imates to see what brought them to a life of crime. He felt that the biological make from there parents cause them to become criminals. But it was later said that someone’s biological, psychodynamics, and personality does not determined how a person goes to a life of crime. Because a person is born with a low birth weight or that their mother was smoking during her pregnancy but b

Information Technology Acts Essay

Information Technology Acts Essay Information Technology Acts Essay Information Technology Acts Reshonda Brewster BIS/220 Craig Bialy November 8, 2011 Information Technology Acts Technology and computer information systems are advancing at a rapid pace. With the access of the Internet on computers, mobile phones, iPads, and other tablet devices makes it easier for communication. Schools are teaching children as young as toddlers to use computers and the Internet for learning and recreational use. According to Kidsource Online (2009), â€Å"Children 3 and 4 years of age are developmentally ready to explore computers, and most early childhood educators see the computer center as a valuable activity center for learning† (para. 4). The Internet has posed a potential threat over the years to many with unsolicited spam, viruses, and pornography that can invade a computer at any given moment. The Federal government has developed Acts to help protect children from the dangers of the Internet with (CIPA) Children Internet Protection Act and (COPPA) Children’s Online Privacy Protection Act from the potential threats. The Children’s Internet Protection Act Congress passed Children Internet Protection Act in 2000 to protect children while using computers at schools and libraries from accessing offensive content through the Internet. CIPA requires schools and libraries to purchase a program named E-rate to block offensive information from computers (Federal Communications Commission, n.d.). According to Federal Communications Commission (n.d.), â€Å"The E-rate program makes certain communications technology more affordable for eligible schools and libraries† (para. 1). The information that schools and libraries must block or filter is pornography, unlawful activities harmful to minors, and restricts information that can be harmful to children. The Children’s Online Privacy Protection Act The Children’s Online Privacy Act (COPPA) was passed in 1998 to protect children under 13 years of age from revealing their personal information on commercial websites without parental consent (Koby, 2006). Marketers such as television, radio, and websites target children that resulted in children releasing private information when ordering products online or going to public (commercial) websites. Kolby (2006), This legislation grew out of the fact that by 1998 roughly [sic] ten

The Invisible Hand of The Market

The Invisible Hand of The Market Invisible hand is the term first introduced by Adam Smith and it refers to the balancing force that creates mutually beneficial exchange for everyone. The invisible hand is a term attributed to the 18th-century economist Adam Smith and appears in his landmark 1776 book, The Wealth of Nations. The term developed from Smith’s study of another classical economist, Richard Cantillon, and was used metaphorically by Smith to describe the â€Å"natural forces† that drive free markets, a kind of product the human nature of people interacting in the market. The term only appears twice in Smith’s book (he had used it in an earlier work in 1759, The Theory of Moral Sentiments, but in a philosophical rather than economic context), but has grown to be cited, and often misinterpreted, as one of Smith’s most important concepts. What is the Invisible Hand? In a free, unregulated market, competition for scarce resources encourages market participants to act to maximize their self-interest. â€Å"Maximizing self-interest† is a typical economic textbook term that is often not clearly explained, probably because it sounds a little more dignified than â€Å"seeking to purchase resources at the lowest or most efficient costs, and seeking to sell goods, services, or assets for the highest obtainable profit.† Even though no one is acting for the benefit of anyone else, the self-interests balance each other, creating a mutually beneficial exchange for everyone. This â€Å"balancing force† is what Adam Smith metaphorically called the â€Å"invisible hand†. WHAT IS FIAT MONEY? In simple terms, if consumers and producers are both free to look out for the own interests, an equilibrium will be created. Consumers generate demand for goods, and producers respond by developing efficient production and distribution methods to meet the demand at the lowest possible cost; prices are regulated by competition, which is in turn created by the consumer demand. Society benefits as a whole, because as prices decrease due to competitive pressure and greater efficiency, volume increases; this obliges producers to pay more for labor to keep up with demand, which increases costs and prices, which are canceled out by the higher purchasing power of the now better-paid worker/consumers. Everyone gets what they want in increasing amounts, and no one has to worry about anything other than their own needs and desires. Misinterpretation and Controversy The idea of the â€Å"invisible hand† is popular with Objectivists and adherents of the Ayn Rand philosophy of â€Å"every man for himself†, but interestingly, the term in modern usage is applied to a section of Smith’s Wealth of Nations where it does not even appear. The idea that self-interested competition leads to larger social benefits appears early in the book, in Book I, Chapter 7, but the actual phrase â€Å"invisible hand† does not appear until Book IV, Chapter 4 in the following passage: â€Å"By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.† The idea that Smith expresses – that individual ambition has greater benefits – is a common theme throughout The Wealth of Nations, but the way Smith uses the metaphor of the â€Å"invisible hand† specifically refers to domestic versus foreign industry. Because the metaphor is consistent with Smith’s philosophical theme, it has been used to underpin the entire philosophy of neoclassical economics; George Stigler, a key leader of the Chicago School of Economics and close friend of Milton Friedman, once famously greeted a symposium on Smith’s work by saying, â€Å"I bring you greetings from Chicago, where Adam Smith is alive and well.† Much of the confusion about what Smith actually said and intended in his own work and the apparent source of the neoclassical application of the metaphor is the 1948 book Economics by Paul Samuelson, in which he quotes Smith’s â€Å"invisible hand† passage in a way that combines a bit of Smithâ€⠄¢s explanation of self-interest among market participants with the original quotation, thus linking the metaphor – perhaps inaccurately, perhaps not – to Smith’s entire economic philosophy. Despite Dr. Stigler’s amusing greeting, Adam Smith is not, in fact, alive and well to add further insight to the argument over what he really meant, so the safest interpretation is an analysis of what he actually wrote. The market participant prefers domestic industry to foreign industry, and we can infer reasons why this might be so; costs of production and transportation are lower, the goods produced are more suitable to the local market because of more available and complete information, and as a consequence of all that, prices for the goods that are produced are lower. Because the domestic industries are preferred for those reasons alone, the domestic society benefits through the need for labor to produce goods and raw materials – a positive, unintended consequence of the market participants’ pure self-interest. Thus social benefit is created as if guided by an â€Å"invisible hand†. Criticism of the â€Å"Invisible Hand† The strongest argument against the validity of the metaphor, and its consequential idea that markets should be allowed to regulate themselves, comes from the Nobel Prize-winning economist Joseph Stiglitz, who wrote in his book The Roaring Nineties that, â€Å"the reason that the invisible hand often seems invisible is that it is often not there.† Free markets have certain limitations, according to Stiglitz, one of the most important being their inability to manage â€Å"externalities†. Stiglitz holds that the idea of unintended benefits being allowed to happen without some sort of accounting is irrational; if a person’s actions create a benefit for someone else for which he is not compensated, or if a person benefits from another’s actions without cost to himself, that person will adjust his activities accordingly – either reduce his activity to prevent â€Å"giving something away for free,† or reduce his activity to avoid paying for more tha n he needs, since he is receiving some of it at no cost. MONEY MAKES THE WORLD GO AROUND Stiglitz argues that any time there is imperfect information and some degree of risk uncertainty in markets – which is always – these â€Å"externalities†, which we can understand as â€Å"forces other than the supposed invisible hand and conceptual equilibrium of an efficient market†, are always present and make the market less efficient because market participants â€Å"hold back† a little. That is why, he says, that some of the most important developments in modern civilization, such as the telegraph, genetic advances in food production, and the internet, did not develop in markets but were supported by governments. In other words, some degree, hopefully, a balanced degree, of government intervention in markets is necessary, first to â€Å"take up the slack† in progress towards efficiency that is not happening in markets, and second to reduce risk uncertainty in ways such as enforcing contracts and protecting property rights.

Fugitive Pieces by Anne Michaels Essay Example | Topics and Well Written Essays - 750 words

Fugitive Pieces by Anne Michaels - Essay Example Grief contributes nothing but pain and unending sorrow. It is only allowing yourself be imprisoned in the past for which affects the people that you deal with at present, dragging them into feeling the same miseries that you have had in your past. We all share one world therefore it is of no wonder that we find people who share the same grievances with us. They may have different memories of the painful past, yet we find security upon knowing that somebody shares the same heartache that we have been into, lest that somebody had found peace against all the odds. No one can escape grief in a blink of an eye. The book supports the idea that healing a wounded heart requires enough time that its scar leaves a trace of that painful past "How many years pass before the difference between murder and death erodes Grief requires time. If a chip of stone radiates its self, its breath, so long, how stubborn might be the soul. If sound waves carry on to infinity, where are their screams now" It also took Jakob a sufficient time to be able for him to accept the realities that had happened to him and his family. He had grieved over his sister's loss that he finds himself even more miserable that he sees Bella in his wife's personality - which he eventually thought that life with her is impossible. This situation concerns the lines "the responsibility of forgiveness on behalf of the dead. No act of violence is ever resolved The bond of memory and history when they share space and time. Every moment is two moments." It is with his wife that every moment is two moments for it is with spending time with his wife that Jakob feels spending it with his sister as well. Therefore he had come into a realization that " to remain with the dead is to abandon them" Jakob thus chooses to live at present, see the beauty and the pleasures that the present bring by leaving his past behind, which means leaving Alex to give honor to his sister's memories and to look at forward to brand new memories he could keep in the future. Living harmoniously at present does not mean burying the memories of the past. It is accepting it and living with it, turning the other side of the stone into a meaningful and memorable past gaining more wisdom and strength out of that painful past. Pain is a common emotion that one feels whenever he has lost someone, or have gone through a dreadful past. However, with grief, one finds the beauty of life itself. "Then Jakob said: 'Perhaps the electron is neither particle nor wave but something else instead, much less simple - a dissonance - like grief, whose pain is love. We think of weather as transient, changeable, and above all, ephemeral; but everywhere nature remembers. Trees, for example, carry the memory of rainfall. In their rings we read ancient weather-storms, sunlight, and temperatures, the growing seasons of centuries'" These lines are just examples that grief could bring to a person. It allows us to see every privilege that we have been granted. In pain, our eyes are ope ned up to a world with so much to look forward to. "History is amoral: events occurred. But memory is moral; what we consciously remember is what our conscience remembers..." Memory is involved with not alone of the pictures of the past but it is at the same time feeling the same feeling

Globalization Essay Example | Topics and Well Written Essays - 500 words - 25

Globalization - Essay Example stations globalization includes increase in the rate of international trade, multi-national companies, high dependency on the global economy, free movement of goods, services, and capital. Globalization also refers to the ease of movement across national borders, technology, investment, labor, and finance. The speedy rise of globalization has been due to the efforts by international bodies like the IMF and WTO that have reduced trade barriers (Michie, 2011). Globalization manifests itself through technological advancement. In fact, it is through technology that the world can communicate and connect without boundaries. Information technology is the basis for the modern economic growth that also translates to increased globalization (Michie, 2011). Globalization, therefore, manifests itself in the manner in which investors, consumers, and businesses sue modest tools to identify and pursue their economic opportunities. Other manifestations of globalization include the extent in which companies analyze economic trends worldwide, easy assets transfer and strategic collaborations (Herzog, 2014). Nonetheless, the existence of transnational corporations shows how the world has become a single and unique market. On the other hand, the improved supply chains is an indication that globalization is transforming the world. For instance, China manufactures goods which in turn get exported to Fiji for finishing and the products find their way to Sydne y for sale. The above is an example of global supply chain that is a manifestation of globalization. The primary advantage of globalization is that it has improved the way people receive and send information (Herzog, 2014). Communication has improved tremendously save to globalization that puts no boundaries for people to interact. Another advantage is that globalization has improved the world’s economy. The removal of trade barriers and ease of access to foreign markets is mainly because of globalization (Herzog, 2014). Due to

Businesses and Society Essay Example | Topics and Well Written Essays - 1000 words - 15

Businesses and Society - Essay Example As the paper outlines they also need to meet other expenses such as food as well as other related bills from this same income. Against this backdrop, it can be noted that the basic problem addressed is that elderly people remain citizens of their given communities and they should be honoured and cushioned from paying high prices especially on drugs that are meant to save their lives from threatening diseases. The main concepts being addressed here include the issue of corporate social responsibility (CSR) and that of morality which derives from the concept of ethics. There is need to balance the needs of the people in the society and the need for businesses to be profitable in a moral fashion. This paper highlights that Strydom suggests that â€Å"Social responsibility is the concept that maintains that businesses are part of the larger society in which they exist and are accountable to the society for their operations.† In other words, there is need for the organisations to strike a fine balance between the needs and interests of customers, needs of the environment and the need for businesses to realise their financial goals. This goes hand in hand with the concept of ethics, which is loosely defined as an attempt to distinguish between something that is morally good from bad. The issues of morality and social responsibility have gained prominence especially with regards to the ways businesses operate. There is need for businesses to establish goodwill with the values and norms of any given society it would be operating in as a way of promoting mutual understanding. The success of any given company would be determined by its willingness to observe the social norms of the areas it would be operating in.

Impact of developing technology on the retail industry Research Paper

Impact of developing technology on the retail industry - Research Paper Example The focus is on improving competitiveness and taking advantage of the available opportunities. The need for shops is increasingly becoming obsolete with the changing technological trends. Online systems have led to the creation of virtual shops that are slowly replacing the convectional shopping centers. This trend is expected to increase with the future predicting a possible phase off for shops. This revolution has been experienced in several sectors, Apple was one of the corporations that championed this paradigm shift through online marketing and use of its applications. Many record shops have been closed in the near past because of the changing patterns in buying of movies and music as initiated by Apple. Purchase of music online has become so prevalent not only in the United States and in Canada but in other countries including the underdeveloped countries. This trend is gaining popularity in the sale of books, Amazon, eBay among others continue to expand for the convenience and efficiency that they give to their customers. Competition has enhanced advancement across the retail markets worldwide. Technology has been the central focus for many retail outlets. Despite the fact that most of the retailers are still on profit, their margins continue to decline. This has prompted a game change that has helped them keep ahead of competition. Home Depot, a company that deals with selling household items has been able to adopt technological changes. The company developed a mobile application that not only did it enhance the customer experience but also facilitated the associates in taking inventory. The company and its customers have received this strategy with a lot of optimism. Competitiveness has also facilitated research in strategies that are predicted to enhance sales as well as increase the customer base. The pressure from competition will force the optimization of the supply chain in order to provide a better customer experience as well as remain on a profi t-making trend. The number of physical stores is expected to dramatically reduce. The so called ‘brick and mortar’ establishments are likely to remain but technological change has to be coupled with the change. However, the change will come with a drastic reduction in these outlets. Another phenomenon expected to be coupled with the reduction in the number of stores is the reduction in their sizes. The main reason for this is the increased business online capable of enhancing the decisions to lease, facilitating merchandising plans and transforming the physical layout. With the reduction of the physical locations and the size of the premises, diversification is of great essence (Sohl, 2012).. The retail market can divert its activities online as well as diversifying to the other areas of the product supply chain. In addition, they can result to offering services. Technology will facilitate the retailers to refocus on customer loyalty while enhancing closeness with the c ustomers. Loyal customers will keep on buying fro the same retailer irrespective of the change. However, in order to facilitate their shopping experience it is obligatory that they keep abreast with change, even loyal customers deserve quality and efficient services. Despite being top on the retail of household items, Home Depot developed a mobil

Final Essay Example | Topics and Well Written Essays - 500 words - 9

Final - Essay Example Democrats were of the opinion that there should be a proper democracy everywhere in US, rather than a division amongst tribes and their rule at various places. So US is bound to expand and to spread democracy everywhere across the continent. That would be very natural for Americans and would be in very much favor of country. During those times, every American was full of nationalism spirit and wanted the country to prosper more and more by acquiring other areas of the continent. This air of rather a selfish kind of nationalism was very much in air particularly after freedom war in 1812. There were many aspects behind this motivation. Religious sector was in favor of making the Indian tribes Christian so that the Christian population becomes more and the souls get satisfaction. They say that God wanted all these things to happen with US. The economic factors were also present as the trade would grow more so there had been the greed for making great entrepreneurs. So overall, there had been a great importance of the concept of Manifest destiny in US history (manifest dynasty. 2011 ). Returning to the discussion that is this concept divides us or unite us, we must keep in mind that Manifest destiny contains the concept of superiority of American over other races or people of color. There was also the concept of cultural superiority that Hispanic people and the native tribes are backward and are not able to move in the world on their own behalf. It’s the people of Texas who represent US in the whole world so they should be the ones who rule over it, alone. This concept eventually caused a lot of slavery in the area after the Mexico war particularly, when many locals were made slaves and were treated badly. This racism and color bias is still present in our society in other forms. Today, most white people consider themselves superior than people of any other race in comparison of culture, social