Tenets of Neoclassical Economy

The objective of this academic essay is to discuss the main tenets of neoclassical economic liberalism, explain whether less developed countries should entirely depend on developed countries not and give the reasons. According to Schumpeter (1954), the classical school of economics was developed in the 1750 and lasted as the mainstream of economic thought until the late 1800.Adam Smith’s Wealth of Nation book published in 1776 can be used as the formal beginning of classical economics but it actually evolved over a period of time and was influenced by Mercantilist doctrines, Physiocracy, the enlightenment, classical liberalism and the early stages of the industrial revolution. Adam Smith is recognized as the originator of classical economic. John Stuart Mill a British philosopher 1806-1873 is often regarded as the synthesizer of the school.While Adam Smith would be regarded as the originator and leader of the school, David Ricardo 1772-1823 should be credited with establishing the form and methods of school. Neoclassical economic liberalism is based on principles of namely free competition, a self-regulating market economy, and low or no taxes on income and property, while sharing with other forms of liberalism â€Å"a belief in progress, the essential goodness of the human race, and the autonomy of the individual and standing for the protection of political and civil liberties.Liberalism has long history rooted in the theories of liberal political thought. It focuses mainly on the individuals rights. It attaches a lot of value to personal freedom be it political or economical. It strives to limit the state’s influence in the economic and social life of society. Liberal theorists believe that economic life should not be interfered by constitutional and legal rights to run all the national or public services. Economic life should be let flourish on its own without interference by the state.Therefore, the cornerstone or the most important thought o f liberalism are free trade and free competition (Schumpeter 1954). Neo-classicists see the market for organising economic activities and individuals and companies are rewarded for their efficiency. The market is seen to be at the centre for economic growth and not the state. In other words, Neoclassical seek to understand economic development in terms of the market behaviour of individual actors and therefore can be described as essentially individualistic (Downs 1957).Economics is a science that studies human behaviour as a relationship between ends and scarce means that have alternatives uses. Neoclassical economics pursues this study by means of supply and demand models that determine prices based on the subjective preference for determining prices in order to escape from the so called objective value theory of classical economics, according to which the value of goods could be established by reference to some basic commodity or the labour input required to produce a good.Neo-cl assicists hoped that by throwing away objective values, economics could be placed on a more scientific basis as an essentially descriptive and predictive theory of human behaviour (Thirlwall, 2006). Neoclassical economics can be understood in terms of both its subject matter and its method. The subject matter of economics deals with variables such as incomes and prices, and aggregates like gross national product, employment levels and inflation rate.The methods offer a way to think about large number interactions within markets, although in principle the range of social institutions can be extended to include politics. The characteristic feature or main tenets of the neoclassical method are instrumental rationality, methodological individualism, economic self interest, equilibrium analysis and the use of mathematical techniques (Riker, 1982). With instrumental rationality entails that agents are supposed rational in a broad sense that their behaviour can explained in term of their p references.Preferences are assumed to be determined by the individuals’ desires and beliefs and well ordered with regard to outcomes. For many purposes, preferences can remain specified only up to certain abstract structural features, such as consistency, completeness and complexity. The latter requirement forms the basis of relative price analytics focused on behavioural effects of changes in the relative prices of different objects of value. More specifically, rational individuals are assumed to respond to any increase in the price of a good by consuming less of it.This simple relative price proposition turns to be surprisingly powerful in predicting behaviour in economic setting and includes specifically the basis of institutional analysis: Institutions yield different social outcomes because they alter the incentives that agents face (Buchanan, 1975). In principle, individuals’ preference could have any content whatsoever: agents could be benevolent or could be dri ven by group interests or a desire to comply with group norms. But in practice , there is a strong tendency to ascribe predominantly self interested motives o individuals and to rely more on institutional mechanism that bend interests to the service of duty than on individuals inherent sense of dutifulness. Accordingly, the first question economists are likely to ask of institutions is what economic incentives they give rise to. Equally, when individuals agents interact, neo-classicists generally assumes that each agent maximizes his or her own well being, considered apart from the well being of the other agents with whom he or she interacts.According to Downs (1957) in the resultant interplay among rival interests, neoclassical economists tend to conceptualize stable social outcomes as form of â€Å"equilibria,† in which the strength of the various contenders are in balance. Furthermore, analysis proceed by examining changes in external circumstances that would alter the str ength of different forces and thereby induce all to change their behaviour in particular directions.The external circumstances in question include policy change by government and changes in broader institutional arrangements though there is an issue as to how far government action should be regarded as external to the social system. Buchanan (1975) argues that the distinct feature of the neoclassical approach to economics can be usefully illustrated with reference to classical economics, in particular to Adams Smith’s metaphor of the invisible hand.Smith’s metaphor express the idea that, under certain conditions, the behaviour of agents who act in their own interests can also ultimately promote the public interest. Smith claimed specifically that the freely operating market under the system of natural liberty would constitute such an invisible hand process. Although agents are assumed to be neither particularly benevolent nor cooperate by nature, the exchange processes that the free market were seen to mobilize vast benefits from large scale human cooperation that are individually not attainable.The neoclassical version of the claim is embodied in the so called fundamental theorems of welfare economics, which asserts that all perfectly competitive equilibria are Pareto optimal, and all Pareto-optimal points are equilibria of a perfectly competitive market under some initial distinction of goods. Pareto optimally is defined as the situation in which all possible mutually beneficial moves have been made. Interestingly, the neoclassical version of this result follows David Ricardo’s formulation in which gains from exchange arise from exploiting natural differences among agents according to principle of ompetitive advantage. In Adam Smith’s version by contrast, the gains from exchange arise not merely from natural difference but from gains from specialisation (Buchanan 1975). There is however, a more significant limitation to fundamenta l theorem of welfare economics. The theorems are restricted in their scope to private goods that are excludable. Markets cannot guarantee the optimal provision of public goods and collective consumption goods. Under plausible conditions, non excludable goods such as defence or law and order and non patentable discoveries may not be provided at all.Even accepting the limited normative reach of paretian concepts, therefore, markets cannot reliably deliver much that is required for their successful operation, such as a secure system of property rights and many goods that are important for human flourishing, such as public health measures or plausible theories about the working of the economy (Thirlwall, 2006). Furthermore, Pareto–optimal outcomes are not necessarily just. Pareto-optimality is consistent with slavery if slaves cannot purchase their own freedom.It is also consistent with very large disparities in income levels. Although the fundamental theorem of welfare economics state that any Pareto-optimal outcome can be realized by a suitable initial redistribution of goods, perfectly competitive markets remain themselves neutral with regard to distributive issues. In other words, the neoclassical defence of perfectly competitive markets can offer only a partial foundation for a comprehensive theory of cooperation, because the normative basis of evaluation that the neoclassical approach offers is too thin.Political philosophers such as Robert Nozick (1974) and David Gauthier (1986), for example, have taken this lack of normative justification as a starting point to embed markets into broader theories of social and economic cooperation that balance efficiency considerations with concerns for justice. Nevertheless, the neoclassical analysis of markets carries important normative implications. First, the analysis demonstrates that the benefits available from human cooperation are considerable.Neoclassical economics depicts social interaction as potentially â€Å"positive sum. † Beyond enjoyed by some individuals need not imply a loss to other and can lead to additional gains. Second, in mobilizing the mutual benefits available, there is a significant task of coordination among individual participation, a task that markets perform well for private excludable goods. Third, in part, markets work well in this coordination role, because they induce predominantly self-interested persons to serve others’ interests.It might be said that markets economize on benevolence, which tends to be a scarce good for many human interactions. Finally, the neoclassical account help to identify cases of market failure cases in which markets cannot guarantee optimal outcome (Emrah, 2008). Less developed countries cannot depend entirely on the notion of neoclassical economic liberalism or markets mechanism to the extent developed countries. This is because most markets in developing countries are characterised with widespread imperfection.One e xample is lack of information and existence of uncertainty that most individual producers face. Most producers in developing countries are generally unsure about the size of local markets, the existence of other producers and the availability of inputs both domestic and imported. Therefore in such a situation profit-utility maximising may be based on incorrect information and in the end lead to inefficient allocation of resources. (Todaro and Smith, 2009) Under such circumstance, the government may perhaps intervene to provide information by guiding producers and consumers.Therefore it can be analysed that, although free market economies have been successful in developed economies, it cannot be so in developing countries and the only recourse is the model of the mixed economy or social market economy. According to Thirlwall (1989), the true benefits of free market outputs may not be reflected in the prices because of the presence of substantial externalities. A number of goods may h ave high social value that is not reflected in their market prices.Because of market distortion or imperfections, the prices may not reflect marginal cost and many social goods and services such as health and education may not be produced at all or offered at a low price even free because markets are incomplete and private sectors have no incentives to produce them. In addition there is no guarantee that market mechanism will distribute resources equitably. Therefore, the government usually has the responsibility to provide them. Todaro and Smith (2009) further argue that although markets may ensure efficient allocation of resources, it can also lead to high levels of income inequalities.Over dependence on market may not improve the distribution of income but it worsen it. Due to these kinds of market failures, different developmental experts and economist have argued in the past that there must be government intervention in the development process and adopt various forms of plannin g models to allocate resources. In some countries resource allocation or planning is managed by bureaucrats and not by consumers. The government plan how resources are allocated across different sectors of the economy (Thirlwall, 1989). In conclusion, the welfare role of the state is retained in a social market economy which cares for the poor.In cases where the poor countries are striving towards a free market economy, there should be certain segments controlled by the state but with prevalence of free enterprise such that efficiency is restored and the country moves towards economic prosperity. Free market economy under centralized political control is the most effective way for distributing resources. BIBLIOGRAPHY Aydinonat, N. Emrah. (2008) The Invisible Hand in Economics: How Economists Explain Unintended Social Consequences: Routledge, New York. Buchanan, J. M. (1975). TheLlimits Of Liberty :University of Chicago Press, Chicago: Downs, A. 1957). An Economic Theory of Democracy . Harper, New York: Gauthier, D. P. (1986), Morals by Agreement: Clarendon Press, Oxford, UK. Nozick, R. (1974), Anarchy, State, And Utopia: Blackwell,Oxford, UK. Riker, W. H. (1982), Liberalism against populism: A confrontation between the theory of democracy and the theory of social choice: Freeman, San Francisco. Schumpeter, Joseph A. (1954), History of Economic Analysis: Oxford University Press, New York. Thirlwall, P. A (2006), 8th ed Growth And Development; Macmillan, London. Todaro, M and S. Smith (2009) Economic Development : Dorling, New Delhi.

Chapter 34 Priori Incantatem

Wormtail approached Harry, who scrambled to find his feet, to support his own weight before the ropes were untied. Wormtail raised his new silver hand, pulled out the wad of material gagging Harry, and then, with one swipe, cut through the bonds tying Harry to the gravestone. There was a split second, perhaps, when Harry might have considered running for it, but his injured leg shook under him as he stood on the overgrown grave, as the Death Eaters closed ranks, forming a tighter circle around him and Voldemort, so that the gaps where the missing Death Eaters should have stood were filled. Wormtail walked out of the circle to the place where Cedric's body lay and returned with Harry's wand, which he thrust roughly into Harry's hand without looking at him. Then Wormtail resumed his place in the circle of watching Death Eaters. â€Å"You have been taught how to duel. Harry Potter?† said Voldemort softly, his red eyes glinting through the darkness. At these words Harry remembered, as though from a former life, the dueling club at Hogwarts he had attended briefly two years ago†¦.All he had learned there was the Disarming Spell, â€Å"Expelliarmus†Ã¢â‚¬ ¦and what use would it be to deprive Voldemort of his wand, even if he could, when he was surrounded by Death Eaters, outnumbered by at least thirty to one? He had never learned anything that could possibly fit him for this. He knew he was facing the thing against which Moody had always warned†¦the unblockable Avada Kedavra curse – and Voldemort was right – his mother was not here to die for him this time†¦.He was quite unprotected†¦. â€Å"We bow to each other. Harry,† said Voldemort, bending a little, but keeping his snakelike face upturned to Harry. â€Å"Come, the niceties must be observed†¦.Dumbledore would like you to show manners†¦.Bow to death, Harry†¦.† The Death Eaters were laughing again. Voldemort's lipless mouth was smiling. Harry did not bow. He was not going to let Voldemort play with him before killing him†¦he was not going to give him that satisfaction†¦. â€Å"I said, bow,† Voldemort said, raising his wand – and Harry felt his spine curve as though a huge, invisible hand were bending him ruthlessly forward, and the Death Eaters laughed harder than ever. â€Å"Very good,† said Voldemort softly, and as he raised his wand the pressure bearing down upon Harry lifted too. â€Å"And now you face me, like a man†¦straight-backed and proud, the way your father died†¦. â€Å"And now – we duel.† Voldemort raised his wand, and before Harry could do anything to defend himself, before he could even move, he had been hit again by the Cruciatus Curse. The pain was so intense, so all-consuming, that he no longer knew where he was†¦.White-hot knives were piercing every inch of his skin, his head was surely going to burst with pain, he was screaming more loudly than he'd ever screamed in his life – And then it stopped. Harry rolled over and scrambled to his feet; he was shaking as uncontrollably as Wormtail had done when his hand had been cut off; he staggered sideways into the wall of watching Death Eaters, and they pushed him away, back toward Voldemort. â€Å"A little break,† said Voldemort, the slit-like nostrils dilating with excitement, â€Å"a little pause†¦That hurt, didn't it. Harry? You don't want me to do that again, do you?† Harry didn't answer. He was going to die like Cedric, those pitiless red eyes were telling him so†¦he was going to die, and there was nothing he could do about it†¦but he wasn't going to play along. He wasn't going to obey Voldemort†¦he wasn't going to beg†¦. â€Å"I asked you whether you want me to do that again,† said Voldemort softly. â€Å"Answer me! Imperio!† And Harry felt, for the third time in his life, the sensation that his mind had been wiped of all thought†¦.Ah, it was bliss, not to think, it was as though he were floating, dreaming†¦just answer no†¦say no†¦just answer no†¦. I will not, said a stronger voice, in the back of his head, I won't answer†¦. Just answer no†¦. I won't do it, I won't say it†¦. Just answer no†¦. â€Å"I WON'T!† And these words burst from Harry's mouth; they echoed through the graveyard, and the dream state was lifted as suddenly as though cold water had been thrown over him – back rushed the aches that the Cruciatus Curse had left all over his body – back rushed the realization of where he was, and what he was facing†¦. â€Å"You won't?† said Voldemort quietly, and the Death Eaters were not laughing now. â€Å"You won't say no? Harry, obedience is a virtue I need to teach you before you die†¦.Perhaps another little dose of pain?† Voldemort raised his wand, but this time Harry was ready; with the reflexes born of his Quidditch training, he flung himself sideways onto the ground; he rolled behind the marble headstone of Voldemort's father, and he heard it crack as the curse missed him. â€Å"We are not playing hide-and-seek, Harry,† said Voldemort's soft, cold voice, drawing nearer, as the Death Eaters laughed. â€Å"You cannot hide from me. Does this mean you are tired of our duel? Does this mean that you would prefer me to finish it now, Harry? Come out, Harry†¦come out and play, then†¦it will be quick†¦it might even be painless†¦I would not know†¦I have never died†¦.† Harry crouched behind the headstone and knew the end had come. There was no hope†¦no help to be had. And as he heard Voldemort draw nearer still, he knew one thing only, and it was beyond fear or reason: He was not going to die crouching here like a child playing hide-and-seek; he was not going to die kneeling at Voldemort's feet†¦he was going to die upright like his father, and he was going to die trying to defend himself, even if no defense was possible†¦. Before Voldemort could stick his snakelike face around the headstone. Harry stood up†¦he gripped his wand tightly in his hand, thrust it out in front of him, and threw himself around the headstone, facing Voldemort. Voldemort was ready. As Harry shouted, â€Å"Expelliarmus!† Voldemort cried, â€Å"Avada Kedavra!† A jet of green light issued from Voldemort's wand just as a jet of red light blasted from Harry's – they met in midair – and suddenly Harry's wand was vibrating as though an electric charge were surging through it; his hand seized up around it; he couldn't have released it if he'd wanted to – and a narrow beam of light connected the two wands, neither red nor green, but bright, deep gold. Harry, following the beam with his astonished gaze, saw that Voldemort's long white fingers too were gripping a wand that was shaking and vibrating. And then – nothing could have prepared Harry for this – he felt his feet lift from the ground. He and Voldemort were both being raised into the air, their wands still connected by that thread of shimmering golden light. They glided away from the tombstone of Voldemort's father and then came to rest on a patch of ground that was clear and free of graves†¦.The Death Eaters were shouting; they were asking Voldemort for instructions; they were closing in, reforming the circle around Harry and Voldemort, the snake slithering at their heels, some of them drawing their wands – The golden thread connecting Harry and Voldemort splintered; though the wands remained connected, a thousand more beams arced high over Harry and Voldemort, crisscrossing all around them, until they were enclosed in a golden, dome-shaped web, a cage of light, beyond which the Death Eaters circled like jackals, their cries strangely muffled now†¦. â€Å"Do nothing!† Voldemort shrieked to the Death Eaters, and Harry saw his red eyes wide with astonishment at what was happening, saw him fighting to break the thread of light still connecting his wand with Harry's; Harry held onto his wand more tightly, with both hands, and the golden thread remained unbroken. â€Å"Do nothing unless I command you!† Voldemort shouted to the Death Eaters. And then an unearthly and beautiful sound filled the air†¦.It was coming from every thread of the light-spun web vibrating around Harry and Voldemort. It was a sound Harry recognized, though he had heard it only once before in his life: phoenix song. It was the sound of hope to Harry†¦the most beautiful and welcome thing he had ever heard in his life†¦.He felt as though the song were inside him instead of just around him†¦.It was the sound he connected with Dumbledore, and it was almost as though a friend were speaking in his ear†¦. Don't break the connection. I know. Harry told the music, I know I mustn't†¦but no sooner had he thought it, than the thing became much harder to do. His wand began to vibrate more powerfully than ever†¦and now the beam between him and Voldemort changed too†¦it was as though large beads of light were sliding up and down the thread connecting the wands – Harry felt his wand give a shudder under his hand as the light beads began to slide slowly and steadily his way†¦.The direction of the beams movement was now toward him, from Voldemort, and he felt his wand shudder angrily†¦. As the closest bead of light moved nearer to Harry's wand tip, the wood beneath his fingers grew so hot he feared it would burst into flame. The closer that bead moved, the harder Harry's wand vibrated; he was sure his wand would not survive contact with it; it felt as though it was about to shatter under his fingers – He concentrated every last particle of his mind upon forcing the bead back toward Voldemort, his ears full of phoenix song, his eyes furious, fixed†¦and slowly, very slowly, the beads quivered to a halt, and then, just as slowly, they began to move the other way†¦and it was Voldemort's wand that was vibrating extra-hard now†¦Voldemort who looked astonished, and almost fearful†¦. One of the beads of light was quivering, inches from the tip of Voldemort's wand. Harry didn't understand why he was doing it, didn't know what it might achieve†¦but he now concentrated as he had never done in his life on forcing that bead of light right back into Voldemort's wand†¦and slowly†¦very slowly†¦it moved along the golden thread†¦it trembled for a moment†¦and then it connected†¦. At once, Voldemort's wand began to emit echoing screams of pain†¦then – Voldemort's red eyes widened with shock – a dense, smoky hand flew out of the tip of it and vanished†¦the ghost of the hand he had made Wormtail†¦more shouts of pain†¦and then something much larger began to blossom from Voldemort's wand tip, a great, grayish something, that looked as though it were made of the solidest, densest smoke†¦.It was a head†¦now a chest and arms†¦the torso of Cedric Diggory. If ever Harry might have released his wand from shock, it would have been then, but instinct kept him clutching his wand tightly, so that the thread of golden light remained unbroken, even though the thick gray ghost of Cedric Diggory (was it a ghost? it looked so solid) emerged in its entirety from the end of Voldemort's wand, as though it were squeezing itself out of a very narrow tunnel†¦and this shade of Cedric stood up, and looked up and down the golden thread of light, and spoke. â€Å"Hold on. Harry,† it said. Its voice was distant and echoing. Harry looked at Voldemort†¦his wide red eyes were still shocked†¦he had no more expected this than Harry had†¦and, very dimly. Harry heard the frightened yells of the Death Eaters, prowling around the edges of the golden dome. More screams of pain from the wand†¦and then something else emerged from its tip†¦the dense shadow of a second head, quickly followed by arms and torso†¦an old man Harry had seen only in a dream was now pushing himself out of the end of the wand just as Cedric had done†¦and his ghost, or his shadow, or whatever it was, fell next to Cedric's, and surveyed Harry and Voldemort, and the golden web, and the connected wands, with mild surprise, leaning on his walking stick†¦. â€Å"He was a real wizard, then?† the old man said, his eyes on Voldemort. â€Å"Killed me, that one did†¦.You fight him, boy†¦.† But already, yet another head was emerging†¦and this head, gray as a smoky statue, was a woman's†¦.Harry, both arms shaking now as he fought to keep his wand still, saw her drop to the ground and straighten up like the others, staring†¦. The shadow of Bertha Jorkins surveyed the battle before her with wide eyes. â€Å"Don't let go, now!† she cried, and her voice echoed like Cedric's as though from very far away. â€Å"Don't let him get you, Harry – don't let go!† She and the other two shadowy figures began to pace around the inner walls of the golden web, while the Death Eaters flitted around the outside of it†¦and Voldemort's dead victims whispered as they circled the duelers, whispered words of encouragement to Harry, and hissed words Harry couldn't hear to Voldemort. And now another head was emerging from the tip of Voldemort's wand†¦and Harry knew when he saw it who it would be†¦he knew, as though he had expected it from the moment when Cedric had appeared from the wand†¦knew, because the man appearing was the one he'd thought of more than any other tonight†¦. The smoky shadow of a tall man with untidy hair fell to the ground as Bertha had done, straightened up, and looked at him†¦and Harry, his arms shaking madly now, looked back into the ghostly face of his father. â€Å"Your mother's coming†¦Ã¢â‚¬  he said quietly. â€Å"She wants to see you†¦it will be all right†¦hold on†¦.† And she came†¦first her head, then her body†¦a young woman with long hair, the smoky, shadowy form of Lily Potter blossomed from the end of Voldemort's wand, fell to the ground, and straightened like her husband. She walked close to Harry, looking down at him, and she spoke in the same distant, echoing voice as the others, but quietly, so that Voldemort, his face now livid with fear as his victims prowled around him, could not hear†¦. â€Å"When the connection is broken, we will linger for only moments†¦but we will give you time†¦you must get to the Portkey, it will return you to Hogwarts†¦do you understand, Harry?† â€Å"Yes,† Harry gasped, fighting now to keep a hold on his wand, which was slipping and sliding beneath his fingers. â€Å"Harry†¦Ã¢â‚¬  whispered the figure of Cedric, â€Å"take my body back, will you? Take my body back to my parents,†¦Ã¢â‚¬  â€Å"I will,† said Harry, his face screwed up with the effort of holding the wand. â€Å"Do it now,† whispered his father's voice, â€Å"be ready to run†¦do it now†¦.† â€Å"NOW!† Harry yelled; he didn't think he could have held on for another moment anyway – he pulled his wand upward with an almighty wrench, and the golden thread broke; the cage of light vanished, the phoenix song died – but the shadowy figures of Voldemort's victims did not disappear – they were closing in upon Voldemort, shielding Harry from his gaze – And Harry ran as he had never run in his life, knocking two stunned Death Eaters aside as he passed; he zigzagged behind headstones, feeling their curses following him, hearing them hit the headstones – he was dodging curses and graves, pelting toward Cedric's body, no longer aware of the pain in his leg, his whole being concentrated on what he had to do – â€Å"Stun him!† he heard Voldemort scream. Ten feet from Cedric, Harry dived behind a marble angel to avoid the jets of red light and saw the tip of its wing shatter as the spells hit it. Gripping his wand more tightly, he dashed out from behind the angel – â€Å"Impedimenta!† he bellowed, pointing his wand wildly over his shoulder at the Death Eaters running at him. From a muffled yell, he thought he had stopped at least one of them, but there was no time to stop and look; he jumped over the cup and dived as he heard more wand blasts behind him; more jets of light flew over his head as he fell, stretching out his hand to grab Cedric's arm†¦ â€Å"Stand aside! I will kill him! He is mine!† shrieked Voldemort. Harry's hand had closed on Cedric's wrist; one tombstone stood between him and Voldemort, but Cedric was too heavy to carry, and the cup was out of reach – Voldemort's red eyes flamed in the darkness. Harry saw his mouth curl into a smile, saw him raise his wand. â€Å"Accio!† Harry yelled, pointing his wand at the Triwizard Cup. It flew into the air and soared toward him. Harry caught it by the handle – He heard Voldemort's scream of fury at the same moment that he felt the jerk behind his navel that meant the Portkey had worked – it was speeding him away in a whirl of wind and color, and Cedric along with him†¦.They were going back.

Animal Testing Essays (2581 words) - Animal Welfare, Bioethics

Animal testing is a popular and controversial issue that has sparked numerous debates between each side throughout the years. Animal testing is a form of experimentation that involves testing different products on all kinds of animals to see if they produce any side effects. These products could be make up, drugs, perfume, cleaning products and various other things. In certain countries, the law specifies that a new drug should essentially be tested on at least two different species of live mammal, one of which must be a large non-rodent. (Retrieved from www.buzzle.com on July 30, 2010.) The Animal act states that animals should not be used for testing of drugs if there is a realistic alternative available. However this has not stopped it from being done. Animals have been the test subject for anesthetics to prevent any pain or suffering during surgery on humans. Some of the testing performed on these animals has caused tumors and the results of the testing were found not relevant fo r any human. It has been found that a lot of the substances used in animals metabolize differently than they do in the human body. Therefore the results cannot transfer safely to patients. Lemon juice is one example of this finding; while it is not harmful to humans it is a poison to some animals. These tests are being conducted and are costing billions of dollars to perform and only a handful of them are providing any real kind of result. If you refer back to the question in our week two discussion of ?Is it ok to do an evil deed if the outcome could benefit others you can clearly see that in the case of animal testing the answer is no. They are not only wasting their time but they are wasting money on something that isn?t beneficial at all. These animals are being put through torture on the hope that ?something big? will come out of it. The acts these people are performing are inhumane and unjust. Proctor and Gamble is a large well known company and is also one of the companies that participate in animal testing. In 1989 P&G received a lot of press for their use of dogs as test subjects. Since then the company claims to only use rats, mice, rabbits and other small animals for testing. Retrieved from idausa.org on July 30, 2010. The company has not released any facts that support this but they still claim to have reduced their animal usage by up to 90 percent. The company has stated that they continue to look for alternatives to animal testing and feel they are using good scientific, ethical, and business sense with their actions. However they fought a deal in 1987 that would have done away with animal testing by their company all together. They also tried to convince people that testing on animals is humane and necessary. Retrieved from www.idausa.org on July 30, 2010. Proctor and Gamble makes so many of the products in today?s market and it is hard to compete. However there are many companies that produce the same products and do not participate in animal testing. The bottom line is this company would rather spend billions on advertising and promotion then on alternatives to testing. Looking for alternatives to testing does not benefit them the way that promoting their product does. People are not going to respond to an alternative to testing like they would to a cool new shampoo commercial. None of the tests that they perform are required by law and very few of them actually produce any results. P&G is just one of the many companies that tests it?s product on animals. Cosmetics companies are another key player in the animal testing field. Eye shadows are tested on rabbits to find out how much damage or irritation they cause. Sunscreen is tested on guinea pigs to see how much of an allergic reaction it will provide. Many of these big companies will hire outside companies to avoid any bad publicity for their company. Another unethical decision made by a money hungry company. These companies claim to be protecting the health and safety of humans with their testing. They claim these tests will prove

Community Policing Assignment Example | Topics and Well Written Essays - 500 words

Community Policing - Assignment Example By community partnerships, expected participation and collaboration by law enforcement agencies with other members of the community are seen to be instrumental in contributing to the peace and order of local communities. Organizational transformation, on the other hand, means â€Å"the alignment of organizational management, structure, personnel, and information systems to support community partnerships and proactive problem solving† (Community Oriented Policing Services (COPS), n.d., par. 3). And, finally, the problem solving process includes relevant elements such as scanning, analyzing, providing immediate response, and evaluating the effectiveness and success of response programs and initiatives. The benefits of community policing programs (or foot patrol) were revealed by Trojanowicz and Pollard (1986) as follows: increased contact on a one-on-one basis between law enforcement officers and citizens; fostering of increased trust; enabling law enforcements to focus on eminent problems in the community; by being actively seen, this approach gives greater public support, and immediate availability to address emergency situations (pars. 16 & 17). As revealed in Pearson Education (2010), there are five distinct core police operation strategies that assist law enforcement agencies to meet their goals. These core strategies are as follows: preventive patrol, routine incident response, emergency response, criminal investigation, problem solving, and support services (an ancillary operational strategy). These were validated by Scott (2000) in his published work entitled â€Å"Problem-Oriented Policing: Reflections on the First 20 Years†. A vivid example was clearly indicated by Trojanowicz and Pollard (1986) as follows: â€Å"one neighborhood may suffer a particularly large number of problems with juveniles, therefore the officer there devotes a greater share of his time to such concerns, perhaps

The advantages and disadvantages of federal government Essay

The advantages and disadvantages of federal government - Essay Example hout waiting for the endorsement of the central government however, several other matters are decided by the states and the regional governments have to follow the same rules and regulations1. Federal governance system has evolved as one of the common and popular form of government across the world. At present, there are several countries of different region of the world that are following the federal government structure including USA, Canada, Australia, India, Brazil, Mexico and Pakistan2. For many other countries like Sri Lanka and Philippines where federalism is not in practice, the advantages and disadvantages of federal government is an important area of concern because any potential changes in the national governing set of these countries heavily depends upon the fact that how these countries views the pros and cons of federalism3. Some important advantages and disadvantages of federal government are discussed below It has been widely accepted that the federal governance system has several important advantages as compared with other system of governance like unitary and confederate government. Some of these are described below In the federal governance system all the provinces use to have the political, social and economic problems peculiar to their own region. The provincial governments are thus enabled to specifically concentrate towards the resolution of the issues and problems evolved within their area of authority. The representatives of the provincial government also line is close proximity to the people of their province and most of the times the representatives also belong to the same communities that constitute that province. In this way, they tend to have better and in depth understanding of the matters and problems of the people of their province that allows them offering unique and targeted solutions for the problems of their province4. The provincial governments usually encounter several matters at local basis like traffic management. There

B2B and B2C Marketing Assignment Example | Topics and Well Written Essays - 1000 words

B2B and B2C Marketing - Assignment Example Thus, business buyer demand is derived demand. It means that there is an impact of all the determinants of individual demand on the derived demand of the business consumers. Moreover, it also means that it may be possible in the consumer market to mold the demand but it is rarely possible to mold the demand of business consumers. The demand in the business market is more inelastic than the consumer market. It means that the demand of the consumer market is not affected by short-run market price fluctuations. The business market contains fewer but larger customers but in the individual consumer market, the number of buyers is large but average quantity they purchase is small. Moreover, the business market is geographically more concentrated as compared to individual customers. The promotional techniques used in marketing for business are different from that for individual customers. For B2B marketing, usual techniques are direct sales, trade discounts, personal networking etc. However, for B2C marketing, the promotional techniques are advertising and other above the line (ATL) marketing techniques. Since the buying decision is very crucial and any error in that decision may cause a great loss, the buyers of the B2B are more rational, whereas, many consumer buying decision is derived by emotional appeals. The example we have chosen to demonstrate the difference between B2B and B2C is the automotive industry. The automotive industry may serve both the purposes, B2B and B2C. If an automotive industry is manufacturing cars to be sold to the individual consumers, it is B2C market operation, and however, if ACE Car Rental, a car rental service provider, purchases a car from the same vendor (Toyota Motor Corporation Australia). In that case, it would be the B2B market.  

Management of Information and Technology Assignment

Management of Information and Technology - Assignment Example NEFM is a reputed manufacturer, which is highly dedicated towards satisfying the varied desires and requirements of the customers, both for commercial or domestic purposes. It includes a wide range of imported products such as customised readymade assembled tables, reception tables, executive chairs, shelves and conference tables. Apart from this, it also includes various stylish office chairs, with wide-ranging features such as wooden base, hydrolic equipments, push back, high back, revolving chairs, and knee tilt with wooden armrest among others at reasonable prices. It also presents numerous types of office sofas as well, such as visitor sofa, slalom sofa, two seater sofa, sofa nat, sofa vivi, taco two -seater sofa and eye-q-eye sofa among others. NEFM also presents diverse office interior facilities such as floorings and false ceilings along with wooden and aluminium partitions as well (New Era Furniture Mart, 2010). Other than this, it also offers a variety of domestic furniture s, such as bed and dining tables, storage units along with assorted sofa sets. Moreover, it also presents numerous customised furnitures in order to satisfy the customer needs with the intention to differentiate in the market. NEFM also presents an array of services to its customers including space planning and designing as well as varied furniture installations (Global Manufacturers, 2012). Thus, in order to present innovative products and/or services to the customers, NEFM attempts to offer high concentration on its business processes. Business process is referred as the assortment of activities which focuses on developing a specific product and /or service in order to gratify the end-users. It includes sequences of activities that are included to present the end-products and /or services to its target consumers which begins with a particular objective and ends with an achievement. There are mainly three types of business processes which are related with managing, supporting and operating (Farid, 2007). In this regards, the prime operations of NEFM are concentrated on manufacturing and circulation of varied office and domestic furnitures being entirely dependent on labourers (New Era Furniture Mart, 2010 ). Before instigating the manufacturing process of any furniture, a specific design is selected by the customer. It is extremely essential in order to receive a striking finished product as per the desire of the customer. Another important fact is that the process of manufacturing commences only after the order is placed by a customer (Farid, 2007). The manufacturing process of furniture includes variety of raw materials namely teak wood, walnut wood or keekar wood along with

The Two Dominant Political Parties of the United States of America Essay

The Two Dominant Political Parties of the United States of America - Essay Example All the variances in people figures have affected, modified and changed the political approaches and arena over time. The original thinking of great minds in the early civilization of America either no longer exists or has been aptly altered or transformed. In sum, the multi-faceted US landscape resulted in the growth and development of its politics being intertwined with the ethnic compositions of the social order. Despite these factors, it is very significant and interesting to observe that the American internal political influence is shared by only two dominant parties, the Republican and the Democratic, unlike in other free sovereignties where run-off elections are an ordinary scenario caused by multi-party rumbles not giving a majority vote for any party at first instance.. Of course, there are other groups (like the Libertarian, the Constitution and the Green parties) moved by different ideological or causal beliefs but these are seemingly petty pockets which do not require much attention. The Democratic Party is the oldest political party in the US. Historically, its founding dates back to as early as in 1790 after those who followed the great George Washington started to struggle for national prominence.4 Ironically, the first president himself did not belong to any political party and he was vocal about being against the establishment of one.5 While the Democratic Party of today is commonly perceived to be liberal, its roots were not exactly identified with that perception. The passing of time together with so much changing of the guards has introduced dilutions. In the early stages of its organization, the foremost pillars of the Democratic Party, while divided, were not totally against slavery and racial discrimination. But if we go back to the 1960's, Democrat Robert F. Kennedy was a moving proponent who vigorously supported the doctrines and actions of Martin Luther King albeit there were charges of inappropriateness on the part of the former anent eliciting pr ivate information from the latter. Be it also noted that the Reverend Jesse Jackson, a true disciple of Luther King and one shining embodiment of the civil rights movement, has been a long-time stalwart of the party. On the other side of the coin, we have the Republican Party which was founded resultant of in-house fighting among the original democrats of the post-George Washington era. Among its major crusades during infancy stage, slavery and racism were condemned. In contrast, however, perception of Republican icons say another thing. Thus, Republican Ronald Reagan was criticized so much for his alleged racist and discriminatory stance despite the fact that he made into law the observation of a national day honoring Martin Luther King and the fact that he appointed the first woman Supreme Court justice. Reagan,

Auxilium Pharmaceutical Corporation Research Paper

Auxilium Pharmaceutical Corporation - Research Paper Example In relation to the study the company which has been selected is Auxilium Pharmaceutical, a firm that has been in business since 1999. The firm’s common stocks are traded publicly in NASDAQ under the symbol AUXL. The mission statement of the company is: â€Å"To improve the lives of patients throughout the world by rapidly and efficiently identifying, developing and commercializing innovative specialty biopharmaceutical products†. The firm’s products target the following healthcare markets: hand and plastic surgeons, endocrinologist, rheumatologists, urologists, and primary care physicians. The two top selling brands the company has are Testim and Xiaflex. The values of the company include integrity, quality, innovation, teamwork, and result oriented. In fiscal year 2010 Auxilium Pharmaceutical generated $211 million in revenues. The organization has 565 employees. The pharmaceutical industry is one of the largest and most powerful industries in the world with 201 0 global sales of $875 billion. The United States has the most expensive healthcare system in the world. One of the challenges that U.S. healthcare companies face when trying to develop a new drug is that it takes a lot of time and money to bring a new drug to market. During the last five years the costs of bringing a new drug to market have gone up from $800 million to $1.3 billion. One of the primary reasons companies receive lengthy patent protection is to allow companies sufficient time to recover its investment and make a reasonable profit. All the costs across the entire healthcare system in the United States are on the rise. The medical spending per capita in the United States is twice as high as other developed countries such as the members of the European Union. In 2009 the United States spend $7,410 in healthcare spending per capita, while Europe in the same period spend only spend $3,615. Quality is not the main issue that’s driving the costs up since the Europeans receive equal if not better healthcare than American citizens. The cost of education may be a factor that is affecting the salary scales for doctors in the United States. Most medical students borrow over $250,000 in student loans to finance their education. Once they start practicing doctors are seeking higher salaries than ever before. Drugs are becoming more expensive due to higher development costs and medical plans are charging astronomical yearly fees in comparison with the past. In 2009 the average cost of family healthcare plan was $13,375. Medical insurance plan inflation increased 5% in comparison with 2008. Due to the rising cost of medical insurance the amount of Americans that are uninsured has increased to over 50 million. This hurts the sales of pharmaceutical companies because uninsured citizens typically cannot afford to pay for their prescription drugs in cash payments. Auxilium Pharmaceutical has multiple strengths that are helping the company stay competitive. T he firm has build up a nice brand value during its 13 years operating in the industry. During 2010 the company had very solid sales results of $211.4 million which represent an increase of 29% in comparison with the previous year.

Film evaluaton about SALT movie by angelina jolie Review

Film evaluaton about SALT by angelina jolie - Movie Review Example People who look for sense in movies should not watch this because it is senseless and highly unrealistic; the sound effects are really good. There is a lot of suspense in the movie and every scene which has suspense has good sound effects. A lot of people get killed because it is an action film but it is very surprising that Angelina Jolie escapes unscathed and the same makes this movie a very unrealistic one, even the kids who watch it would not be convinced with the story line. Espionage has become a fantasy activity in action movies and Salt is no different, espionage has been presented as a fantasy in the movie and this again is highly unconvincing and factitious. Overall the story line and the action sequences are really weak but the presence of a star like Angelina Jolie has made the film successful. The graphics are very decent, the action sequences have been filmed very well and it is good fun to watch it on screen. Some of the action sequences are out of this world and again seem to be unrealistic and unbelievable; Jolie killing hundred men seems highly unrealistic and vague. â€Å"Salt† is as impersonal an action thriller as we’ve seen in years. The President is played by Hunt Block, a bland-looking soap-opera actor. (Can that really be his name?) Block conveys so little strength that when the President gets conked on the noggin and knocked out you don’t even register that he’s no longer an active figure in the scene. He’s not worthy; it seems, of kissing Salt’s hyperactive black boots. (Salt Review) Jolie moves from one truck to another in a quite impossible manner, she uses several guns to kill people in the movie and this is plain ridiculous. A spy thriller should have much more than what Salt has, it loses its credibility and this affects the film in more ways than one. It is a great movie for someone who wants to watch superhuman stunts performed by a woman, Angelina Jolie performs a series of great

Raghunath Prasad CASE Essay Example for Free

Raghunath Prasad CASE Essay Father and son equal owners of a vast joint family property – both quarrelled over it – Father instituted criminal proceedings against the son – In order to defend himself, the son borrowed money from the plaintiff at 24% compound interest and mortgaged his properties – In eleven years, the amount payable magnified more than eleven fold – Defendant contended that plaintiff/lender taking unconscionable advantage of his mental distress and exercised undue influence defendant failed to prove that the lender was in a position to dominate his will – Borrower got no relief. However, no presumption of undue influence in following cases and burden of proof lies on the party claiming as such 1. Landlord and tenant 2. Creditor and debtor 3. Husband and wife 1. This is an appeal from a decree, dated November 9, 1920, of the High Court of Judicature at Patna, which varied a decree, dated September 25, 1917, of the Subordinate Judge of Arrah. 2. The suit is for recovery of the amount of principal and interest due by the appellant to the respondents (the plaintiffs) under a mortgage of late May 27, 1910. The Subordinate Judge gave decree in the mortgage suit but only allowed simple interest. The High Court allowed compound interest. 3. The substantial question raised on the appeal is whether the appellant, in the circumstances proved in the case, fell within the protective provisions of Section 2 of the Indian Contract (Amendment) Act, 1899. It may be convenient to set that section out in full: 2. Section 16 of the Indian Contract Act, 1872, is hereby repealed, and the following is substituted therefor, namely: 16.(1) A contract is said to be induced by undue influence where the relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other and uses that position to obtain an unfair advantage over the other. (2) In particular and without prejudice to the generality of the foregoing principle, a person is deemed to be in a position to dominate the will of another: (a) where he holds a real or apparent authority over the other, or where he stands in a fiduciary relation to the other; or (b) where he makes a contract with a person whose mental capacity is temporarily or permanently affected by reason of age,  illness, or mental or bodily distress. (3) Where a person who is in a position to dominate the will of another, enters into a contract with him, and the transaction appears, on the face of it or on the evidence adduced, to be unconscionable, the burden of proving that such contract was not induced by undue influence shall lie upon the person in a position to dominate the will of the other Nothing in this sub-section shall affect the provisions of Section 111 of the of the Indian Evidence Act, 1872. 4. It is in the view of the Board by that section that the question arising between th ese parties falls to be settled, and not by reference to the legislation of other countries, e. g., the English Moneylenders Act. The statute to be here construed is the Indian Contract Act as amended. It is accompanied with danger to invoke as authority in an Indian case expressions which merely connote the principles which underlie a particular English statute, and form a guide to its interpretation. As will be seen this general observation is required by reason of the citation of certain authorities alluded to in the judgment of the Subordinate Judge and referred to in the argument before their Lordships Board. 5. The appellant is a member of a joint undivided family owning a property of considerable value, including inter alia, 186 villages, assessed to revenue for about Rs. 17,000 annum. 6. The mortgage is dated May 27, 1910. It is for the sum of Rs. 9,999 borrowed from the plaintiffs. The rate of interest is covered by the following provision: I, the declarant, do promise that I shall pay interest on the said debt at the rate of 2 per cent, per mensem on the 30th Jeth of each year. In case of non-payment of the annual interest, the interest will be taken as principal and interest will run thereon at the rate of 2 per cent, par mensem, that is, interest will be calculated on the principle of compound interest. 7. There can be no question that these terms were high: if payment was not made the sum due on the mortgage would speedily mount up. By the decree of the High Court which was pronounced on November 9, 1920, it is seen that the original debt of Rs. 10,000 had reached, with interest and costs calculated up to May 8, 1921, more than a lac of rupees, viz., Rs. 1,12,885. In eleven years the stipulation for interest at 24 per cent, compound had magnified the sum covered by the mortgage more than elevenfold. It is upon these facts, coupled with one other about to be mentioned, that the appellant takes his stand. 8. The statement in the defence admits that at the time of  the execution of the mortgage the defendant was owner of one half of a valuable joint famil y property. The owner of the other half was his father. Father and son had quarrelled. Serious allegations are made by the son against the father; whereas it appears that the father had instituted criminal proceedings against the son. Shortly before the date of the mortgage the defendant had borrowed Rs. 1,000 from the plaintiffs so as to enable him to defend himself in these criminal proceedings. It is alleged that they caused him great mental distress, and that he required more money to conduct his litigations. That is the story. 9. Evidence was taken in the case. It is sufficient to say that the defendants gave no evidence at all. It is quite plain that no Court can accept a story thus unproved by its author as establishing a case either of mental distress or of undue influence under the Indian Contract Act. The only case which the appellant has is the case derived from the contents of the mortgage itself. 10. It is argued with force that these are unconscionable, and that it is the duty of the Court in India to step in either to rescind the contract or to rectify the bargain. It was the latter course which was argued for in the present case. In support of this argument much reliance was placed upon the judgment pronounced by Lord Davey in Dhanipal Das v. Raja Maneshar Bakhsh Singh. (1906) L.R. 33 I.A. 118, s.c. 9 Bom. L.R. 304, 306. 11. Before, however, addressing themselves to the authorities cited their Lordships think it desirable to make clear their views upon, in particular, Sub-section 3 of Section 16 of the Indian Contract Act as amended. By this sub-section three matters are dealt with. In the first place the relations between the parties to each other must he such that one is in a position to dominate the will of the other. Once that position is substantiated the second stage has been reached, viz., the issue whether the contract has been induced by undue influence. Upon the determination of this issue a third point emerges, which is that of the onus probandi. The burden of proving that the contract was not induced by undue influence is to lie upon the person who was in a position to dominate the will of the other. 12. Error is almost sure to arise if the order of these propositions be changed. The unconscionableness of the bargain is not the first thing to be considered. The first thing to be considered is the relations of these parties. Were they such as to put one in a position to dominate the will of the other? Having this distinction  and order in view the authorities appear to their Lordships to be easily properly interpreted. 13. In the judgment of this Board in Dhanipal Das v. Raja Maneshar Bakhsh Singh, (1906) L.R. 33 I.A. 118. the outstanding effect was that the borrower who mortgaged the estate was actually, at the date of the transaction, under the control of the Court of Wards. He was treated, to use the language of Lord Davey, as under a peculiar disability and placed in a position of helplessness, and the lender was proved to have been aware of that and, therefore, in a position to dominate the borrowers will. Lord Davey thus expressed the Boards view (p. 126): Their Lordships are of opinion that although the respondent was left free to contract debt, yet he was under a peculiar disability and placed in a position of helplessness by the fact of his estate being under the control of the Court of Wards, and they must assume that Auseri Lal, who had known the respondent for some fifty years, was aware of it. They are therefore of opinion that the position of the parties was such that Auseri Lal was in a position to dominate the will of the respondent within the meaning of the amended Section 16 of the Indian Contract Act. It remains to be seen whether Auseri Lal used that position to obtain an unfair advantage over the respondent. 14. This case was followed in terms in the case of Maneshar Bakhsh Singh v. Shadi Lal (1909) L.R. 36 I.A. 96; in which the bond in suit was given by a talukdar in Oudh without the knowledge and consent of the Court of Wards after his estate had been placed under it. In these circumstances the former case was followed, and Lord Collins expressed the opinion of the Board to be that they are satisfied that in this case also the borrower was placed in such a condition of helplessness that the lender was in a position to dominate his will, and that he used that position to obtain an unfair advantage over the appelant. 15. It is sufficient to say that the borrower in the present case was sui juris, had the full power of bargaining and of burdening his estate, that his estate was not under the Court of Wards and that he lay under no disability. With regard to his helplessness nothing whatsoever is proved in the case except the bare fact that he being a man of wealth as owner of one-half of certain joint family property wished to obtain and did obtain certain monies on loan. The only relation between the parties that was proved was simply that they were  lender and borrower. 16. It is an entire mistake to represent the decisions of this Board as being wanting in light upon the last mentioned case. For in Sundar Koer v. Sham Krishen (1906) L.R. 34 I. A, 9, 16, the exact point was referred to by Lord Davey in the course of the judgment read by him (p. 16): There is no evidence of any actual exercise of undue influence by the mortgagees or of any special circumstances from which an inference of undue influence could be legitimately drawn, except that the mortgagor was in urgent need of money. The learned counsel for the appellant argued that the mortgagees wore thereby placed in a position to dominate the will of the mortgagor, and cited a recent decision of this BoardDhanipal Das v. Raja Maneshar Bakhsh Singh. In that case, however, the borrower was a disqualified proprietor under the Oudh Land Revenue Act, 1870, and his estate was under the management of the Court of Wards, and it was on that ground that their Lordships held that the borrower was under a peculiar disability, and the position of the parties was such that the lender was in a position to dominate his will. There is nothing of that kind in the present case, and their Lordships are not prepared to hold that urgent need of money on the part of the boriower will of itself place the parties in that position. 17. This precisely fits the situation of these parties. It has not been proved,it might be said that it has not even been attempted to be proved,that the lender was in a position to dominate the will of the borrower. 18. In these circumstances, even though the bargain had been unconscionable (and it has the appearance of being so) a remedy under the Indian Contract Act does not come into view until the initial fact of a position to dominate the will has been established. Once that fact is established, then the unconscionable nature of the bargain and the burden of proof on the issue of undue influence come into operation. In the present case, for the reasons stated, these stages are not reached. 19. Their Lordships think it right to observe that the judgment now pronounced is not in accord with the principles laid down by the Appellate Civil Court of Calcutta in Abdul Majeed v. Khirode Chandra Pal (1914) I.L.R. 42 Cal. 690. that where there is ample security, the exaction of excessiv e and usurious interest, in itself raises a presumption of undue influence which it  requires very little evidence to substantiate. Their Lordships think this decision to be wrong. There is no such presumption until the question has first been settled as to the lender being in a position to dominate the borrowers will. Their Lordships are further of opinion with reference to the citation of Smuel v. Newbold [1906] A.C. 461., that that case does not form any authority in the construction of the Indian Contract Act. The case was determined under the Moneylenders Act, 1900, as it expressly bears. The issue was thus stated by Lord Macnaghten (p. 468): It seems to me that the construction of the Moneylenders Act, 1900, is plain enough, and that the evidence before your Lordships is more than sufficient to show that this case is within the mischief which the Act was designed to remedy. 20. In the view of the Board cases of that character form no precedent for a decision of the present appeal which is rested on another and very differently worded statute. 21. Their Lordships are of opinion that the decree of the High Court should be varied by allowing compound interest on the principal at the rate of two per cent, per mensem from the date of the execution of the bond until September 25, 1917, and thereafter simple interest at the rate of six per cent, per annum up to the date of realization, and that in other respects the decree of the High Court should be affirmed, and they will humbly advise His Majesty accordingly. 22. The appellants will pay the costs of the appeal.

Views of transcendentalism versus puritanism Essay Example for Free

Views of transcendentalism versus puritanism Essay The Puritans see God as mysteriously involved in the acts of the universe, whereas the transcendentalists think God is connected to mankind through nature and intuition. The outlook on Puritan writing is that their style tends to be plain and introspective. Transcendentalist writing shows how nature and feelings are triumphant over logic and rationality. In contrast to the plain style of Puritan writing, Jonathan Edwards frequently strikes his audience with powerful words in his literature. He exemplifies this style in Sinners in the Hands of an Angry God but still shows the lowliness of human beings in relation to Gods power, another Puritan trait. In transcendentalist writing, the spiritual and ideal worlds are revealed through the physical facts of the natural world. A writer who uses transcendental techniques is Ralph Waldo Emerson. The work written by Emerson reflecting Transcendentalism is called Nature. The name itself portrays the piece as transcendental, but Emerson uses the forest and its components as symbols of the spiritual world. In comparison, both the Puritans and the Transcendentalists focus on their own perceptions of the world and human existence. Edwards sermon called Sinners in the Hands of an Angry God reiterates the fact that God has more power than man. Wickedness and sin, as Edwards describes, leads man closer and closer into the depths of hell. Mankind is weak and helpless if God is provoked. There is no want of power in God to cast wicked men into hell at any moment. Mens hands cannot be strong when God rises up, (Jonathan Edwards). Edwards uses the phrase Mens hands cannot be strong when God rises up to evidently make his point. His intention is to say that God and his powers should not be taken lightly. No matter how strong the will of man, God has the final say in it all. There is, however, a twist to his intention. Edwards directs the wrath of God mainly upon those who sin and that He [God] is not only able to cast wicked men into hell, but he can most easily do it, (Jonathan Edwards). By using the word wicked, Edwards hints at how man acts in order to provoke God. Sin leads towards mankinds wickedness, therefore angering God. His wrath may come in different ways. Instead of throwing the inhabitants of Earth directly into the fiery depths of hell, He will let mankind destroy itself and withhold His retribution. The wrath of God is like great waters that are dammed for the present; they increase more and more, and rise higher and higher the floods of Gods vengeance have been withheld; but your guilt in the meantime is constantly increasing, and you are everyday treasuring up more wrath, (Jonathan Edwards). Obviously, Edwards uses the water held behind a dam as a symbol. The dam represents Gods hand, and the water is His wrath. Comparing this, Edwards tries to explain that the longer the water is held back, the more force it will have when the dam will no longer support it; the longer God puts off judgment of mans sin, the more powerful His punishment. The sermon Sinners in the Hands of an Angry God is a great example of the Puritan belief of society. A man is ether part of the elect, basically chosen to go to heaven, or of the damned that are sent to hell at Gods force. On the softer side of Gods presence, Transcendentalism takes place. Their view is that intuition and nature as a whole is more powerful than intellect. In Emersons Nature, there is a strong sense of God being present through the wilderness and the natural way of life. All the parts incessantly work into each others hands for the profit of man. The wind sows the seed; the sun evaporates the sea; the wind blows the vapor to the field; the ice, on the other side of the planet, condenses rain on this; the rain feeds the plant; the plant feeds the animal; and thus the endless circulations of the divine charity nourish man, (Ralph Waldo Emerson). What Emerson is trying to get through to his audience is that God works in a process for the good of mankind. When he tells about how the wind, sun, rain, and plant, and how each work together in a cycle to support nature, he is comparing their jobs to God nourishing man. Emerson is also trying to say that without nature and its course, man would not survive. The Transcendentalists believe that the physical facts of the natural world are a doorway to the spiritual and ideal world; an apparent example is that nature always wears the colors of the spirit, (Emerson, Chapter: Nature). Emerson considers God to be present within physical properties of nature, in this case, color. The use of the word always suggests that God and the spiritual world are visible through nature to man no matter the condition. Conversely, do these relations of God and nature apply in any way to man? When a man is described as a particle of God, (Emerson, Ch: Nature), he is a piece of God and the spiritual world. There is a connection between man and nature because of Gods visibility through the environment. Ideally, the Transcendentalists show that man is not only a part of God, but also in nature. People living in the Puritan and Transcendental periods of time believed that God was connected to humanity and the life surrounding it; also, God had the power to reveal himself to mankind and even take control, making Puritanism and Transcendentalism equivalent. Texts like Sinners in the Hands of an Angry God and Nature are good examples of Puritan and Transcendental writing because they exemplify the characteristics and beliefs of each era. Elements in transcendentalism are knowledge and spiritual existence in nature, whereas Puritanism consists of discipline and God revealed through the inner self of man. Whether it be for God to cast wicked men into hell at any moment, (Edwards), or divine charity [to] nourish man, (Emerson), God was presented as a power both to reprimand and nurture civilization.

The impact of child safeguarding policies

The impact of child safeguarding policies How Current Policies, Theories and Politics Have Influenced Children and Young People This essay is going to look at the policies and politics about the safeguarding, welfare and wellbeing of children and young people. In particular this essay will look at the quality of social services and statistics of children’s involvement with social services, the Children’s Act 2004 and what this proposes (Kay, 1999). Also the Victoria Climbie Case and who she was involved with, Every Child Matters and the approaches taken, the Children’s Commissioner, the Children’s fund and charities such as the NSPCC, Lucy’s Faithfull Foundation and Action for Children will all be considered to understand what support is available to children and young people. In 2012/13, it is reported that just under 600,000 children had some sort of involvement with social services because of concerns for their welfare. The Department for Education (DFE) is now known to looking at the prospect of raising the quality of services delivered by social care workers. To achieve this, the DFE has sought to enforce the revised statutory guidance which promotes the welfare of children and safeguard them from harm (Morgan N and Timpson E, 2014). The result being that, child protection services not seen to be at the right level by Ofsted will be changed by the DFE with immediate effect. To improve future services the department for education are continuing to reform the system of serious case reviews to demonstrate to social workers, incidence of serious protection issues and this can be improved on. Other continuous improvement measures include the Step Up to Social Work scheme and Frontline Pilot which are now looking at attracting high-quality graduates interes ted in social work. Private and voluntary organisations are also to be delegated some of the works undertaken by social care workers in an effort to strengthen child protection services, support for looked after children and to give vulnerable children a better chance of staying with their families rather than going into care through improved early interventions services (Morgan N and Timpson E, 2014). The fundamental aim of the Children’s Act 2004 is to improve the wellbeing of children and young people through local authorities and agencies while widening the powers of relevant service providers. Safeguarding children and promotion of children’s welfare is therefore the priority of the Children’s Act. Unsurprisingly, the non-statutory Area Child Protection Committees have been replaced with Safeguarding Children Boards which means a robust plan of strategy could be set out for children and young people and could be made and published by children’s services authorities. The Children’s Act also allowed databases to be made that held all children’s and young people’s information whereby professionals involved with children or young people could access and share information (The Stationary Office, 2004). The Every Child Matters initiative (ECM) was introduced in 2004 after the sad death of Victoria Climbie who was widely known by all the relevant agencies two housing authorities, four social services departments, two child protection departments linked to the police, an NSPCC ran child unit and two different hospitals. In the case of the latter, Victoria Climbie had been seen with serious injuries (Department for Education, 2003). The ECM aim to promote the wellbeing of children and young people through better coordination between multi-agencies such as schools, local authority, police and other care providers. This approach is deemed productive as organisations can readily team up to share information in order to boost any identified child protection measure (everychildmatters.co.uk, 2014; Knowles, 2009). The establishment of Children’s Commissioner in 2005 has further strengthened the mandate of the ECM initiative as vulnerable people in society now have a voice in parliame nt and their local areas (everychildmatters.co.uk, 2014). The efforts of the government is complemented by a plethora of charity and not for profit organisations such as the NSPCC, Lucy’s Faithfull Foundation and Action for Children to name but a few. The NSPCC being the leading children’s charity for example fights to end child abuse by protecting and changing the lives of children for the better and freeing them from harmful situations. The charity will also support parents who are in need of advice in any way (nspcc.org.uk, 2015). Lucy’s Faithfull Foundation on other hand is the only UK-wide child protection charity dedicated solely to reducing the risk of children being sexually abused. They work with all members of families who have suffered from sexual abuse. The charity offer educational programmes, courses and professional support at all levels to victims (lucyfaithfull.org, no date). Finally, Action for Children work with children, young people, parents, carers and run 650 services throughout the UK. This chari ty is able to provide essential services for both neglected and abused children and young people (actionforchildren.org.uk, 2014). Overall it seems that the safeguarding of children and young people, welfare and wellbeing is still a constant battle. Just under 600,000 children in 2012/13 had some sort of involvement with social services because of concerns for their welfare while the DFE continues to enforce the revised statutory guidance with rigour. Seemingly, the system in place for child protection and safeguarding is constantly being reviewed with the Children’s Act 2004 now bringing in a multi-agency approach. All what this means is that, organisations and agencies can pass information about a child or young person to other professionals so that an up to date information is always available (Allen, 1990). In effect, the current institutions are committed to averting future cases as in ‘Victoria Climbie’. The Every Child Matters initiative was introduced through the Children’s Act 2004 and now protect the wellbeing and welfare of children using a multi-agency approach. This is in deed a positive outcome of the Children’s Act 2004 along with the Children’s Commissioner set up in 2005 which has already given children and young people a voice in parliament and in their locality. The Children’s fund 2000 among others have also helped disadvantaged children and young people by improving safeguarding practices. In conclusion, current policies, theories and politics within the United Kingdom as whole have positively influenced the welfare and wellbeing of children and young people. It seems that more still has to be done where safeguarding children and young people is concerned but the government is heading in the right direction. Bibliography Websites Action for Children (2014) What is Action for Children [Online] Available at: http://www.actionforchildren.org.uk/about-us/what-we-do Accessed: 11/01/15 Department for Education (2003) The Victoria Climbie Inquiry [Online] Available at: http://dera.ioe.ac.uk/6086/2/climbiereport.pdf Accessed: 10/01/15 Every Child Matters (No date) Every Child Matters [Online] Available at: http://www.everychildmatters.co.uk Accessed: 10/01/15 Morgan, N and Timpson, E (2014) Policy supporting social workers to provide help and protection to children [Online] Available at: https://www.gov.uk/government/policies/supporting-social-workers-to-provide-help-and-protection-to-children Accessed: 24/12/14 NSPCC (2015) About us [Online] Available at: http://www.nspcc.org.uk/about-us/ Accessed: 11/01/15 The Lucy Faithfull Foundation (No date) The Lucy Faithfull Foundation Working to Protect Children [Online] Available at: http://lucyfaithfull.org Accessed: 11/01/15 Books Allen, N (1990) Making Sense of the Children’s Act. 2nd edn. Essex: Longman Industry and Public Service Knowles, G (2009) Ensuring Every Child Matters: A Critical Approach. 1st edn. London: Sage Kay, J (1999) A Practical Guide: Protecting Children. 1st edn. London: Cassell Stationary Office, The, and HM Government, (2004) Children’s Act 2004: chapter 31, explanatory notes. 1st edn. The Stationary Office 2004 1

Adverse Situations and the Formation of Culture :: Cultural Identity Essays

An unspoken contempt of culture has grown throughout white America. What benefit could possibly come from silly rituals, special foods, colorful garments, jewelry and ceremonies? Even most of the relativists have forgotten the purpose of culture and blindly dispense hollow respect for it. Sociology and anthropology texts imply it's just arbitrary stuff people come up with for the hell of it when they live near one another. With such an implication, it certainly seems a little silly in today's world. Culture emerges in only one circumstance and serves only one purpose. When a group of people face the same adversity at the same time, they do better if they deal with it together. A people's collective solutions to adversity is their culture. If there's a limited supply of food, we'll get used to the same fruits and meats and use the same cooking techniques. If we live in the same climate and around the same building materials, we'll learn to build dwellings together. If we experience the same weather and live near cotton plants, we'll weave similar clothing. If we're confused by the same astronomical phenomenon or killed by the same unknown disease, we'll come up with myths together. Without unified adversity, problems are fleeting. If I face hunger one month, infant mortality the next, and predators the third, and you face these things in the opposite order, we build no culture together. We're not going to hunt together or create a common death ritual or learn to build secure dwellings together. This is the only reason culture is geographically localized. Now, many classes of people do not face any perceptible adversity that unification is a weapon against. A non-trivial percentage of the world who are of certain races, live in certain countries, and are born to affluent families no longer see problems in their lives that could be overcome if they just had the help of their fellow man. There is no hunger for them, no discrimination, no infant mortality, no predators, no droughts. As far as they know, their only enemy are the people around them competing for the same jobs, resources, and mates. Genuine culture cannot emerge in these situations. Instead, we end up with something that looks a lot like culture—a common language, beliefs, some customs, ways of greeting and acceptable conversation. However, for these people, this commonality does not serve the purpose of culture. Instead, it's used only to smoothly interact with those in proximity.

Noahs Ark vs. Jurassic Park :: Biology Essays Research Papers

Noah's Ark vs. Jurassic Park As the human population of the world continues to increase the flora and fauna of the planet are becoming an increasingly smaller part of the picture. Environmentalist and conservationists all over the globe are working hard to find strategies and methods for the preservation of disappearing creatures and species. An increasingly popular idea that would allow for great benefits in the field of conservation became apparent in 1996 with the cloning of sheep by the name of Dolly. Since then the scientific debate on the relationship between cloning and conservation has ensued. Although the answer to that question remains on the horizon, cloning for helping endangered species is a process that may become a frequent procedure in the future. When one thinks of cloning generally the first idea that pops into your mind is a large tube filled with some creature attached to a lot of tubes. Cloning actually, is a much more complicated and difficult process. Cloning, scientifically defined is, "asexual reproduction or as the creation of genetically identical individuals" (1). In the cloning process the DNA of one individual creature is "copied" into the cell, or embryo, of another and then that embryo develops into a baby and proceeds down the process of birth and embryological development. Currently, many scientists believe that if the DNA of endangered species is rescued and preserved that the DNA of that species could undergo the cloning process and thus produce a clone of that species. The results of this cloning process would be enormous or it "will open a new front in the battle to preserve the Earth's biodiversity by cloning endangered gorillas, tigers and other rare species" (2). Cloning of endangered species would be a monumental achievement for the scientific community. Many people when they think of cloning picture sometime weird science fiction creature in a test but in real life the idea of cloning could be a valuable tool for the environmental community and it would be a process could vastly improve the current situation of endangered species. Part of the reason why the cloning process is so highly revered is because of the level of complexity and the multiple details that must develop accordingly for the process to work. Robert P. Lanza says, "It is a deceptively simple-looking process. A needle jabs through the protective layer surrounding an egg. A research assistant sucks out the egg's nucleus, which contains the majority of a cell's genetic material, leaving behind only a sac of gel called cytoplasm.

Free Things They Carried Essays: M&Ms :: Things They Carried Essays

M&M's in The Things They Carried Tim O'Brien uses many interesting literary devices in his collection of short stories about his experiences in Vietnam. One of the most striking, yet understated, is his fleeting reference to M&M's. O'Brien allows them to be seen as something of a mystery, an enigma. O'Brien transforms M&M's into a symbol of America: mystical, powerful, and incredible. O'Brien also uses the simple image of a yo-yo to explain the necessity of American GI's to transform their mental attitudes to something different in order to survive the war. M&M's and yo-yo's are two very powerful symbols that O'Brien uses to explain the mentality of American soldiers in Vietnam. "As a medic, Rat Kiley carried a canvas satchel filled with morphine and plasma and malaria tablets and surgical tape and comic books and all the things a medic must carry, including M&M's for especially bad wounds, for a total weight of nearly 20 pounds." (O'Brien 5) The first mention of M&M's is cryptic. O'Brien makes use of a standard list to describe what Rat Kiley carries, until he reaches the M&M's. M&M's are separated by a phrase, they are set apart; they receive special treatment. O'Brien is making clear to the reader that M&M's are not to be included in the normal list of things carried by a medic. M&M's are above and beyond simple medical gear. M&M's are for "especially bad wounds," they treat something more than bandages and tape can. O'Brien allows the reader to understand that M&M's have significance, and are very important to the soldiers. O'Brien's brief mention of M&M's allows us to wonder if when this magical cure is used. Does Rat Kiley administer M&M's to Tim when he is shot? Could M&M's have saved Rat when he goes insane? Are M&M's something so mystical that they don't even need to be mentioned? O'Brien creates M&M's to be a symbol of everything that the soldiers leave behind. To Kiowa, M&M's embody the spirit of his grandmother and the faith of his father. To Norman Bowker, M&M's mean as much as his medals mean to his father. To O'Brien, M&M's capture the spirit of a kind old man in Minnesota. M&M's are O'Brien's alternative symbol for "Mom and Apple Pie." Another symbol that O'Brien uses is Mitchell Sanders' yo-yo, Sanders is playing with his yo-yo when Curt Lemon is killed.

Mobile phone and Landline phone Essay

Phones are important because we rely on them to communicate with other people. Despite the cell phone cannot give you a clear, crystal clear connection as a landline phone. Landline phone is a device which we connect to the output of our homes and businesses. On the other hand, cell phones and mobile have the capacity and advanced technology. While they both perform the same basic function, there are significant differences between landline and mobile phones. There are many differences between landline and mobile phones. Convinces of having a cell phone is that you can have it on hand where ever you go. As for a landline you cannot take it with you. Cell phone have a GPS technology that can find your exact location or where you trying to go. Cell phone also can give you the chance to take live pictures or video camera whereas landline cannot. Cell phone has great features such as watch TV, MP3 players, can store all our contact information, keep track of our appointments, and important dates. The most important advantage of landlines for cell phones that 9-1-1 operators can better determine your location in an emergency. When you call 9-1-1 from a landline phone, the operator can find the exact address where the call originated. When you call 9-1-1 from a cell phone, on the other hand, the operator only receives information about your approximate latitude and longitude, which can be from 50 to 300 yards. If you are in an emergency and cannot speak to give 9-1-1 operator your location, have stationary can save your life. The similarity of landline and cell phone is the fact that they are both used for communication. One quality of the technology they are good for emergencies, for example, if you just need to call a friend or family, as the technology can do this. Both are good and reliable person depends on your needs. In conclusion, we know that cell phones are more comfortable and fashionable than landline. Phones have improved over the year; we have gone from the house phone to cell phones. Cell phones and home phones are similar in a couple of ways, but very different in many ways. Nowadays we see people on the streets with their cell phones, as many people know that it’s easier and cheaper.

Comparative Study of Personal Financial Planning Essay

It is generally seen that people have a misconception that financial planning is about saving more and spending less but that is not the case, it is more about saving the right amount so that future goals can be met. The objective of financial planning is * To ensure that the right amount of money is available in right hands at right point of time in the future to achieve the desired goals and objectives. It * Provides direction and meaning to your financial decisions. * It allows you to understand how each financial decision you make affects other areas of your finances. Financial planning and investments can be undertaken by anyone with a clear assessment of one’s inflow of funds and the goals that need to be achieved from time to time. Keywords: Financial planning, wealth management, investment instruments, real estate Introduction Financial planning is achieving your financial goals in the most efficient manner. The broad areas of financial planning include Investment plan ning  -Your wealth will only grow over time if you have invested it in assets. Investment planning  deals with the kind of investments an individual should invest in to get the best out of his wealth. In this the risk and return profiling of an individual is done based on his life stage, spending requirements with respect to his income and wealth, time horizon and liquidity requirements and various individual specific constraints. Investment Planning is important because it helps you to derive the maximum benefit from your investments. | Cash flow planning  Ã¢â‚¬â€œ In simple terms, cash flow refers to the inflow and outflow of money. It is a record of your income and expenses. Though this sounds simple, very few people actually take time out to find out what comes in and what goes out of their hands each month. Cash flow planning refers to the process of identifying the major expenditures in future (both short-term and long-term) and making planned investments so that the required amount is accumulated within the required time frame. Cash flow planning is the first thing that should be done prior to starting an investment exercise, because only then will you be in a position to know how your finances look like, and what is it that you can invest without causing a strain on yourself. It will also enable you to understand if a particular investment matches with your flow requirement| | | 3. Retirement planning  Ã¢â‚¬â€œ Retirement planning means making sure you will have enough money to live on after retiring from work. Retirement should be the best period of your life, when you can literally sit back and relax or enjoy your life by reaping benefits of what you earn in so many years of hard work. But it is easier said than done. To achieve a hassle-free retired life, you need to make pruden t investment decisions during your working life, thus putting your hard-earned money to work for you in future. Planning for retirement is as important as planning your career and marriage. Life takes its own course and from the poorest to the wealthiest, no one gets spared. We get older every day, without realizing. However, we assume that old age is never going to touch us. The future depends to a great extent on the choices you make today. Right decisions with the help of proper financial planning, taken at the right time will assure smile and success at the time of retirement. Retirement Planning acquires added importance because of the fact that though longevity has increased, the number of working years haven’t.Tax planning  Ã¢â‚¬â€œ Tax evasion is illegal but tax minimization is legal. Thus you can reduce your tax liability by planning effectively. With proper tax planning you can increase your after tax income. |   | 5. | Children future planning- It is essential to plan for the future of your children. The purpose of Children’s Future Planning is to create a corpus for foreseeable expenditures such as those on higher education and wedding and to provide for an adequate security cover during their growing years. Savings alone is no longer enough.

“Barkley Fully Supports NBA`s New Dress Code”

This argument is intended to show that Charles Barkley, a major star in the National Basketball Association (NBA), supports the unpopular dress code then-recently established by the league. The writer intends to show that the dress code has support among the players and that there are good reasons to support the code.The writer apparently wants the reader to understand that 1) some basketball players support this new rule, 2) that the manner in which people dress can make a difference in their lives, and 3) that some professional athletes can and do act as role models to their young fans.2. The occasion for the argument is both present and future. The first occasion arises from the ongoing argument that athletes should be role models for their fans, of which the dress code is a part. The second occasion for the argument is future, in that the present change that the author would like to effect would have an effect at a future date. 3. This article argues fact, evaluation, and proposa l. It argues fact by describing the actual dress code and the evidence of the other basketball players’ behavior in response to it.It evaluates that behavior and the probable effect that inappropriate dress might have on teens. Finally, it proposes different behaviors for basketball players as a group. 4. The target audience for this article appears to be basketball fans, particularly teenagers and their parents. 5. This article makes appeals from of logos and ethos. The author argues logically, stating cause and effect in terms of both how basketball players’ examples have an effect on their fans and 2) how an individual dresses affects other people’s perception.In addition, it argues using ethos when the author describes the words and actions of Julius Irving and of Jay Leno. 6. Charles Barkley is making the argument, which the author is reporting. Because Barkley is a basketball player himself, he appears to be reliable and to make a valid argument. 7. The au thor attempts to make himself appear trustworthy by interviewing Charles Barkley for his article. In addition, he provides illustrations of other basketball players, possibly to indicate that he knows–or at least knows of–the players of which he writes.8. Because Barkley was a basketball star and is currently employed as a TNT commentator, his words are already have authority. In addition, the author cites Julius Irving, the tape of the Jay Leno show, and the facts and figures involved in Barkley’s charitable work and business. 9. The arguments made do not define what the â€Å"appropriate† forms of dress might be, either according to the dress code or according to society. Nor does the argument define what it means to dress like a basketball player, as opposed to what it means to dress like other people.In addition, the author does not describe how Charles Barkley himself dresses. 10. There is some attempt to argue the dress code from a racial perspectiv e. However, a better argument that is also touched on is that young fans look up to professional athletes, who should provide good examples for them. The argument attempts to serve the interests of the fans, but professional athletes also gain from it by their increased credibility in the eyes of the public if they dress â€Å"appropriately. † 11. The argument is framed by the discussion of the filming of the Jay Leno segment.It is arranged as a story within a story, in which the author discusses a conversation that takes place during the event that he describes in the opening of the article. 12. The language of the article is straightforward and simple and addresses a topic that the audience cares about. It appeals to the audience by making its points in an easy to understand fashion. Work Cited Stewart, Larry. â€Å"Barkley Fully Supports NBA’s New Dress Code. † Name of Textbook, Editor name (ed. ). City of Publication: Publishing House, date. 729-730.

Macroeconomics Unit 8 Assignment Essay

Question: 1. Using aggregate demand, short-run aggregate supply, and long-run aggregate supply curves, explain the process and causes by which each of the following economic events will move the economy from one long-run macroeconomic equilibrium to another. In each case, explain the short-run and long-run effects on the aggregate price level and aggregate output. a. There is a decrease in households’ wealth due to a decline in the stock market. A decrease in household wealth means lower purchasing power. The consumer reduces their consumption leading to a decline in the demand which shifts to the left from D1 to D2. As a result, in the short run both the output and aggregate price level fall as depicted by S1. A continued shift in the demand curve to the left, from D1 to D2, leads to reducing price and increasing supply which causes the supply curve to shift from S1 to S2. The long run equilibrium aggregate output and prices will remain constant. In the long run aggregate supply curve shifts to the right from S1 to S2 and the aggregate demand curve also shifts to the right from D1 to D2. The equilibrium aggregate output remains constant while the aggregate prices fall. The long equilibrium aggregate remains constant. b. The government lowers taxes, leaving households with more disposable income, with no corresponding reduction in government purchases. With the taxes lowered and the income still maintained, the consumers have more purchasing power. The demand for goods and services will therefore increase and shift from D1 to D2 resulting in an increase in aggregate prices and real GDP. In the long run real GDP is constant. In the short run the aggregate supply will shift to the left as aggregate demand increases and shifts to the right. In the long run aggregate prices will shift upwards while real GDP remains constant. In the long run both the demand and supply curves get new slopes. The aggregate demand curve shifts to the right while the supply curve shift to the left. Aggregate prices rise and real GDP remains constant. 2. An economy in a hypothetical country is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap—inflationary or recessionary—will the economy face after the shock, and what type of fiscal policies, giving specific examples, would help move the economy back to potential output? a. A stock market boom increases the value of stocks held by households. The short run aggregate supply curve shifts to the right from SRAD1 to SRAD2. Aggregate prices and real GDP increases and equilibrium shifts from E1 to E2. This will lead to inflationary gap. In the long run supply is fixed which leads to an increase in aggregate prices causing the inflationary gap. The government can control this by contractionary policies such as borrowing from the public. This inflationary gap can be solved by inflationary control such as discretionary or countercyclical fiscal policy which changes the federal government spending or taxes. b. Anticipating the possibility of war, the government increases its purchases of military equipment. The increase in purchases of the military equipment means an increase in demand. With the increase in demand in the short run, the demand curve will shift from SRAD1 to SRAD2 with an alternative increase in price. The price level increase leads to the demand reducing in the long run from SRAD2 to SRAD3. This causes cost-pull inflation whose remedy is inflationary policies. The economy will face an inflationary gap. Policy makers could use contractionary fiscal policies to move the economy back to potential output. The government would need to reduce its purchases of nondefense good and services, increase taxes or reduce transfers. c. The quantity of money in the economy declines and interest rates increase. As quantity of money rises in the economy and interest rates increase, the demand for goods and services declines as shown by the shift from SRAD1 to SRAD2. This happens as consumers can afford to buy more expensive items. The priority changes as customers try to save more money. In the long run, everyone has more money and demand rises again as shown by the shift in the curve from SRAD2 to SRAD3. This leads to a demand-pull inflation which can be solved by inflationary policies. The economy will face a recessionary gap. Policy makers could use expansionary fiscal policies to move the economy back to potential output.