Essay on Anti Globalization - 3397 Words

Antiglobalization Anti-globalization is a term used to describe the political stance of individuals and groups who oppose the neoliberal form of globalization (using the term globalization in a doctrinal sense not a literal one). Anti-globalization is also used to refer to opposition to international integration (using the term globalization in a literal sense not a doctrinal one). Anti-globalization can denote either a single social movement or an umbrella term that encompasses a number of separate social movements[1] In either case, participants stand in opposition to the unregulated political power of large, multi-national corporations, particularly the powers exercised through trade agreements. The political power of†¦show more content†¦For instance, free trade positively contributes to overall development of the world. Global free trade promotes global economic growth, it creates jobs, makes companies more competitive, and lowers prices for consumers. It also provides poor countries, th rough infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity creates the conditions in which democracy and respect for human rights may flourish. Unfortunately, anti-globalists do not see the good sides of globalization and they argue that economic growth does not necessarily make people happier, and often makes them miserable; that institutions like World Bank have made the rich richer while making the nonrich poorer; that conventional idea of free trade are wonderful for managers and stockholders, but hell on workers and nature; and that a turn away the accumulation of things and toward more humane pursuits would be highly welcome (Korden, 2001). AT THIS TIME New tactics and technologies have radically changed the face of protest activity and generated renewed life in the reality of demonstrations. Gone are old-style gatherings confined to waving place cards and banners, declaiming speakers, and moderate controlled matches in specific locations. Todays demonstrations resurrecting the anarchist theme of direct action employ a host ofShow MoreRelatedThe Reasons For Anti Globalization Protests1263 Words   |  6 PagesAl-Rodhan, Globalization is defined as the process of integration across the whole world uprising from the interchange of values and ideas of different aspects including political, economical, social, environmental and cultural aspects. Advancements in technology made the process of globalization go further in recent decades. It favors people to communicate, travel and exchange the ideas. However, a coin has two sides. There are different problems carried out by the globalization. Therefore, anti-globalizationRead MoreAnti Gl obalization Protest The World Trade Organization2356 Words   |  10 Pageslabor market consequences of international integration have been at the center debate. Anti-globalization protest the World Trade Organization-WTO, the International Monetary Fund - IMF and the World Bank meetings reveal that many people fear that they may lose their job or may be confronted with lower wages because of the threat of fiercer international competition. However, based on a 2007 WTO report globalization efforts have only increased as innovations in transportation and communications lowerRead MoreA Book No Logo : No Space, No Choice `` No Jobs ``1575 Words   |  7 Pages 40 minutes Video on an idea of Naomi Klein, No Logo- Brands, Globalisation and Resistance (2003), directed by Sut Jhally. Abstract: Naomi Klein, one of the leaders in the anti-globalization movement. His book No Logo are summarized, analysis and discussed some problems of globalization. Such as, during anti-globalization activists, how should economist respond? The topics covered in the context are the facts about poverty, inequality of income, trade liberalization facts and economic growth inRead MoreGlobalization And Negative Benefits Of The Automobile Industry Essay1732 Words   |  7 PagesI. Introduction Globalization -Positive and Negative Benefits In today’s fast paced world, many would say that globalization is electrifying, bringing with it worldwide advancement and opportunities as well as economical business growth across nations. Many would also suggest that it has opened doors to the larger demographics of information and communication that crosses geographic, social and cultural boundaries. As a result of globalization, the worldwide market has expanded; bring togetherRead MoreWhat Would Our Nation Do Without Globalization and International Trade? 1574 Words   |  7 Pagesassisting organizations in becoming globally competitive. Strategic imperatives have helped in the development of globalization. Organizations can no longer stand still while their competitors grow stronger. This causes organizations to seek out new markets. Survival is a key indicator for an organization to enter into a global market place. What would our nation do without globalization and international trade? Below is a list of how i nternational trade assists our nation’s economy according toRead MoreThe Case for Contamination by Kwame Anthony Appiah620 Words   |  3 PagesNew York Times, speaks of the topic of how globalization affects individuals in many aspects of their life. He discusses how forcefully preserving cultures can harm a culture more than help it. While the article is lengthy, it goes into great detail about how globalization affects people in countries all over the world, even Ghana. Globalization makes a large impact on the world we see today and cultural groups can benefit from the effects of globalization because it promotes diversity, creates cosmopolitanRead MoreThe World Trade Center Buildings1716 Words   |  7 PagesWith the benefits of globalization, terrorism seems to only serve as an initiative for all nations to unite their governments under the safe umbrella of one global village. Since the September 11, 2001 attacks on the World Trade Center buildings, the world has been watching America, its citizens and government to gauge our response and the steps we would take to counteract and prevent such acts of terrorism from occurring again. The reaction of our government was to screen and scrutinize foreignersRead MoreThe Recent Executive Order Signed By President Trump Stating1336 Words   |  6 PagesThe recent executive order signed by President Trump stating the U.S. will withdraw from negotiating the Trans-Pacific Partnership deal has major implications for â€Å"globalization.† Obama’s administration had pushed hard for it because it was essentially an attempt to create a single market for the United States and 11 other countries that border the Pacific Ocean, including Canada, Mexico, and Chile. The TPP’s idea was to make goods flow more freely and cheaply between all partners. All of TPP’s partnersRead MoreVenezuelan Crisis: Grounds for Revolution? Essay1515 Words   |  7 Pagesresult of globalization through media and communications. In the same way, globalization is not just about economic relationships or trade. When studying a nation’s political culture, it is important to take a look at how globalization has impacted it. Globalization is broader than one topic; it is the development of our world as a result of interdependence and communication. Globalization is propelled greatly by the economy, especially by free trade and the free flow of capital. Globalization is theRead MoreIs Globalism Vs. Nationalism The Ideological Struggle Of The 21st Century?1221 Words   |  5 Pagesglobalism, the belief that globalization is normal and good, surprised leaders on both sides of the left and the right. This is in part because these leaders do not believe that globalism is an ideology. However, Greg Ip argues that globalization is an ideology and provides the reader with an in-depth recounting of the beginnings of globalization. He also shows how these leaders have not been able to see the i ll effects of globalization, and that the people against globalization have both social and economic

Dream Deferred - 1590 Words

Analysis of a Dream Deferred by Langston Hughes This poem by Langston Hughes is a very complicated. In it the speaker paints a picture of what might happen to someone’s dream if it is postponed too long. This idea is the overall theme of the poem and it is what unifies and connects each line to the poem as a whole. There are also indirect references that this is not only the dream of an individual, but an entire race’s struggle to achieve peace and liberation. This poem consists of a series of answers to the question, â€Å"What happens to a dream deferred?† All of the lines following this first question are presented as different similes. The first line of this poem is the most crucial because it develops and sets the direction†¦show more content†¦The idea that a dream has the potential to become rotten is an interesting concept. The dream could begin to rot in the person’s mind or heart, which would cause them to become sick. This line could also be an indirect reference to the lynchi ng that occurred during the speaker’s era. It could be referring to the rancid smell of the dangling lifeless bodies. This reinforces the idea that the speaker is talking about the struggle of an entire race and how important it is to rise up as a group to accomplish your dreams because if anything is left alone too long it will eventually begin to decay. At this point the poem begins to talk about the lighter, but still negative effects of not completing a dream. The speaker implies that if the dream does not begin to rot it could â€Å"crust and sugar over- / Like a syrupy sweet.† This line compares not accomplishing a dream or goal to a sugary substance. If either of these is exposed for too long it would begin to form a rigid and stale crust along the surface. This hard crust would make the substance more difficult to use and could make the dream more difficult to achieve. A dream that is hard and separated is much harder to achieve, and this could lead to f eelings of depression. These feelings would make the dream appear more complex and create a bigger struggle for the person to obtain their goals. The other image thisShow MoreRelatedA Deferred Dream Essay1506 Words   |  7 Pagesof their own and hoped to achieve these dreams. However, they have had to put off their dreams because of the struggle of life for them. This left no exception to the Younger family, but Beneatha Younger was an exception. She was on her way to becoming a doctor which was her lifelong dream. By the end of the play, Beneatha learned about real risk and work and accepted it therefore achieving her dream. She was born poor and in a struggling family. Her dreams were always very demanding and almost impossibleRead MoreEssay on Dream Deferred in A Raisin in the Sun1050 Words   |  5 PagesWhat Happens to a Dream Deferred? Does it dry up like a raisin in the sun? Or fester like a sore– And then run? (Langston Hughes). It is important to never lose sight of one’s dream. Dreams are what keep people moving in life, but if they are ignored, they may morph and lose their prevailing form. This is evident in Lorraine Hansberry’s A Raisin in the Sun, as Walter’s, Beneatha’s, and Mama’s dreams become delayed, distorted, and blurred. Walter has long dreamed of making his family’sRead MoreAnalysis Of The Poem Dream Deferred 878 Words   |  4 Pages Pursuing Dreams The overall meaning of this poem is about the consequences of not pursuing your dreams. For some this can be a horrible thing while for others, it can be a blessing in disguise. The poem begins with a simple question, â€Å"What happens to a dream deferred† (line 1)? What occurs when an individual goes in another direction from a goal or ambition they had once desired? Does it cause a weight to be lifted? Does it cause fear and anxiety? This poem focusing on the consequences or benefitsRead MoreDream Deferred1062 Words   |  5 Pagesthat your company has two choices, one is to be a successful startup will or could potentially land in the history books. Secondly, it could be an absolute failure, it may very well land in the history books but more so due to its notoriety. In a Dream Deferred, Monique Maddy gives a glimpse on her experiences and lessons from launching a technology company in an emerging market. Monique is very candid and perhaps still a bit resentful in seeing how her company was doomed by inexperience, bureaucracyRead MoreHarlem: a Dream Deferred1043 Words   |  5 PagesHarlem: A Dream Deferred Langston Hughes Literally Analysis Dreams are aspirations that we hope to reach on our lifetime. They are the day that gives us the drive to live our lives and accomplish our goals. When reaching our goals, we will do anything to get to our destination. But what happens when your dreams deferred and put on hold due to unseen circumstances? Or what do you so when someone tells you that you can not so the things you want to so because of the pigmentation of your skinRead MoreHoop Dreams : Dream Deferred2370 Words   |  10 PagesHoop Dreams: Dream Deferred The documentary, â€Å"Hoop Dreams† depicts the structural, psychological, and environmental issues that perpetuates poverty in America through a cohort of individuals, Arthur Agee and William Gates. Agee and Gates’s lives are chronicled through a longintudinal study of four years, from the summer they enter high school, to their entry into college. Both African-American teenagers are recruited from different parts of Chicago, but they came together to begin their freshmanRead MoreDreams In Dreams And Dreams Deferred By Langston Hughes915 Words   |  4 Pagessorts out a multitude of analogies and diction to draw in the audience to better understand his perspective of dreams. When the poet begins the poems, â€Å"Dreams† and â€Å"Dreams Deferred,† he speaks of an emptiness and an ageing of dreams. Hughes’ allusions in repetition, strands, binary opposites, and anomalies can represent his overall portrayal of a life without dreams is unstable and that dreams become the person, making it impossible to run from. The pattern of â€Å"life is† and â€Å"does it† appears to be aRead MoreIs Integration A Dream Deferred?996 Words   |  4 Pages Another source of inequality comes from student-teacher relations directly. Thandeka K. Chapman in â€Å"Is Integration a Dream Deferred?† argues that within suburban mixed-race (however, still majority white) schools, there is a significant difference between the behavior and treatment of minority students versus that of white students within the same school (314). To examine this more thoroughly, a research team interviewed students regarding their experience, and reported the results. Since teacherRead MoreHarlem A Dream Deferred Analysis762 Words   |  4 Pagesbecomes their dream, but people do not always fulfill these dreams. There are obstacles that come in the way of people being able to fulfill their dreams. In â€Å"Harlem [A Dream Deferred]† Langston Hughes uses imagery and rhetorical questions in order to demonstr ate what happens to a dream. The theme that appears through Langston Hughes poem is the theme of not pursuing a dream. Through Hughes poem, this theme is demonstrated and the imagery helps in conveying the idea of having a dream postponed. Read MoreA Dream Deferred - a Literary Comparison1878 Words   |  8 PagesThe Dream Deferred – A Comparison Kristy Andrews Axia College of University of Phoenix In Lorraine Hansberrys play A Raisin in the Sun, the author reveals a hard-working, honest African-American family struggling to make their dreams come true. Langston Hughes poem, Harlem, illustrates what could happen if those dreams never came to fruition. Together, both Hansberry and Hughes show the effects on human beings when a long-awaited dream is thwarted by economic and social hardships. Each of

Dream Deferred - 1590 Words

Analysis of a Dream Deferred by Langston Hughes This poem by Langston Hughes is a very complicated. In it the speaker paints a picture of what might happen to someone’s dream if it is postponed too long. This idea is the overall theme of the poem and it is what unifies and connects each line to the poem as a whole. There are also indirect references that this is not only the dream of an individual, but an entire race’s struggle to achieve peace and liberation. This poem consists of a series of answers to the question, â€Å"What happens to a dream deferred?† All of the lines following this first question are presented as different similes. The first line of this poem is the most crucial because it develops and sets the direction†¦show more content†¦The idea that a dream has the potential to become rotten is an interesting concept. The dream could begin to rot in the person’s mind or heart, which would cause them to become sick. This line could also be an indirect reference to the lynchi ng that occurred during the speaker’s era. It could be referring to the rancid smell of the dangling lifeless bodies. This reinforces the idea that the speaker is talking about the struggle of an entire race and how important it is to rise up as a group to accomplish your dreams because if anything is left alone too long it will eventually begin to decay. At this point the poem begins to talk about the lighter, but still negative effects of not completing a dream. The speaker implies that if the dream does not begin to rot it could â€Å"crust and sugar over- / Like a syrupy sweet.† This line compares not accomplishing a dream or goal to a sugary substance. If either of these is exposed for too long it would begin to form a rigid and stale crust along the surface. This hard crust would make the substance more difficult to use and could make the dream more difficult to achieve. A dream that is hard and separated is much harder to achieve, and this could lead to f eelings of depression. These feelings would make the dream appear more complex and create a bigger struggle for the person to obtain their goals. The other image thisShow MoreRelatedA Deferred Dream Essay1506 Words   |  7 Pagesof their own and hoped to achieve these dreams. However, they have had to put off their dreams because of the struggle of life for them. This left no exception to the Younger family, but Beneatha Younger was an exception. She was on her way to becoming a doctor which was her lifelong dream. By the end of the play, Beneatha learned about real risk and work and accepted it therefore achieving her dream. She was born poor and in a struggling family. Her dreams were always very demanding and almost impossibleRead MoreEssay on Dream Deferred in A Raisin in the Sun1050 Words   |  5 PagesWhat Happens to a Dream Deferred? Does it dry up like a raisin in the sun? Or fester like a sore– And then run? (Langston Hughes). It is important to never lose sight of one’s dream. Dreams are what keep people moving in life, but if they are ignored, they may morph and lose their prevailing form. This is evident in Lorraine Hansberry’s A Raisin in the Sun, as Walter’s, Beneatha’s, and Mama’s dreams become delayed, distorted, and blurred. Walter has long dreamed of making his family’sRead MoreAnalysis Of The Poem Dream Deferred 878 Words   |  4 Pages Pursuing Dreams The overall meaning of this poem is about the consequences of not pursuing your dreams. For some this can be a horrible thing while for others, it can be a blessing in disguise. The poem begins with a simple question, â€Å"What happens to a dream deferred† (line 1)? What occurs when an individual goes in another direction from a goal or ambition they had once desired? Does it cause a weight to be lifted? Does it cause fear and anxiety? This poem focusing on the consequences or benefitsRead MoreDream Deferred1062 Words   |  5 Pagesthat your company has two choices, one is to be a successful startup will or could potentially land in the history books. Secondly, it could be an absolute failure, it may very well land in the history books but more so due to its notoriety. In a Dream Deferred, Monique Maddy gives a glimpse on her experiences and lessons from launching a technology company in an emerging market. Monique is very candid and perhaps still a bit resentful in seeing how her company was doomed by inexperience, bureaucracyRead MoreHarlem: a Dream Deferred1043 Words   |  5 PagesHarlem: A Dream Deferred Langston Hughes Literally Analysis Dreams are aspirations that we hope to reach on our lifetime. They are the day that gives us the drive to live our lives and accomplish our goals. When reaching our goals, we will do anything to get to our destination. But what happens when your dreams deferred and put on hold due to unseen circumstances? Or what do you so when someone tells you that you can not so the things you want to so because of the pigmentation of your skinRead MoreHoop Dreams : Dream Deferred2370 Words   |  10 PagesHoop Dreams: Dream Deferred The documentary, â€Å"Hoop Dreams† depicts the structural, psychological, and environmental issues that perpetuates poverty in America through a cohort of individuals, Arthur Agee and William Gates. Agee and Gates’s lives are chronicled through a longintudinal study of four years, from the summer they enter high school, to their entry into college. Both African-American teenagers are recruited from different parts of Chicago, but they came together to begin their freshmanRead MoreDreams In Dreams And Dreams Deferred By Langston Hughes915 Words   |  4 Pagessorts out a multitude of analogies and diction to draw in the audience to better understand his perspective of dreams. When the poet begins the poems, â€Å"Dreams† and â€Å"Dreams Deferred,† he speaks of an emptiness and an ageing of dreams. Hughes’ allusions in repetition, strands, binary opposites, and anomalies can represent his overall portrayal of a life without dreams is unstable and that dreams become the person, making it impossible to run from. The pattern of â€Å"life is† and â€Å"does it† appears to be aRead MoreIs Integration A Dream Deferred?996 Words   |  4 Pages Another source of inequality comes from student-teacher relations directly. Thandeka K. Chapman in â€Å"Is Integration a Dream Deferred?† argues that within suburban mixed-race (however, still majority white) schools, there is a significant difference between the behavior and treatment of minority students versus that of white students within the same school (314). To examine this more thoroughly, a research team interviewed students regarding their experience, and reported the results. Since teacherRead MoreHarlem A Dream Deferred Analysis762 Words   |  4 Pagesbecomes their dream, but people do not always fulfill these dreams. There are obstacles that come in the way of people being able to fulfill their dreams. In â€Å"Harlem [A Dream Deferred]† Langston Hughes uses imagery and rhetorical questions in order to demonstr ate what happens to a dream. The theme that appears through Langston Hughes poem is the theme of not pursuing a dream. Through Hughes poem, this theme is demonstrated and the imagery helps in conveying the idea of having a dream postponed. Read MoreA Dream Deferred - a Literary Comparison1878 Words   |  8 PagesThe Dream Deferred – A Comparison Kristy Andrews Axia College of University of Phoenix In Lorraine Hansberrys play A Raisin in the Sun, the author reveals a hard-working, honest African-American family struggling to make their dreams come true. Langston Hughes poem, Harlem, illustrates what could happen if those dreams never came to fruition. Together, both Hansberry and Hughes show the effects on human beings when a long-awaited dream is thwarted by economic and social hardships. Each of

Importance Of International Accounting Standards Accounting Essay Example For Students

Importance Of International Accounting Standards Accounting Essay The Committee on Accounting Procedure ( CAP ) was the first accounting criterion board that issued the Accounting Research Bulletins ( ARBs ) which started what the Committee on Accounting Procedure believed by and large accepted accounting rule should be. Nonetheless, the Accounting Research Bulletins merely made recommendations and preparers of accounting information along with hearers did non hold to keep to them. Though the Committee on Accounting Procedure played an of import portion in the development of accounting criterions, it was merely portion clip and truly could non give the necessary clip required to explicate accounting criterions. As a consequence the commission became hibernating. Consequently, during the twelvemonth 1959 the American Institute of Certified Public Accountant ( AICPA ) put in topographic point the Accounting Principles Board ( APB ) to develop statement of accounting constructs and publish dictum on bing accounting jobs. The Accounting Principles Boar d delegated its dictums to an Accounting Principles Board Opinions and 31 were issued. At foremost the Opinions and the Accounting Research Bulletins chiefly depended on general credence by the accounting users and preparers. The Opinions and the Accounting Research Bulletins tried to acquire preparers of accounting information and Certified Public Accountants to accept the recommendations by carrying them that it was the best manner to work out accounting jobs. But by 1964, the comptrollers and hearers were convinced that persuasion merely could non cut down the many different methods people and concern worldwide usage to fix the histories. During the 1960s to the early 1970s, a batch of ailments were made about the procedure used for the development of accounting criterions. Because of that, in the early 1970s the American Institute of Certified Public Accountant and other interested parties saw it suit to make the Study Group on Establishment of Accounting Principles to happen out if there is any possibility of bettering the accounting standard-setting procedure. The Study Group on Establishment of Accounting Principles gave the thought that there should be a new and more independent criterion puting administration to replace the Accounting Principles Board and it was approved. Hence, in 1973 the International Accounting Standards Board/Committee was created. Since so the International Accounting Standards Board/Committee for the most portion has been responsible for set uping the accounting criterions that is comprised of the by and large accepted accounting rules. In today A ; acirc ; ˆâ„ ¢s planetary market, with company puting in company and state puting in state, accounting information has to hold the features of being comparable, dependable and transparent for the smooth operating in the capital market. If concerns do non fix and describe their accounting information harmonizing to the international accounting criterions, there will be negative reverberation for that concern. At some point in the sixtiess, concerns worldwide were utilizing a assortment of methods in the coverage and readying of their concern fiscal statements. As a consequence of this, investors and prospective purchasers were blindsided about the existent fiscal place of the administration. For case, in the UK, the company GEC Ltd took over the company AEI Ltd because the fiscal statements were overstated and they thought the concern was profitable when it truly was non. As such, company fiscal statements would give different figures for different method of accounting, in effect the international accounting criterions had to come in topographic point. Accounting is used worldwide by all type and signifier of concerns and administration. International accounting criterions along with other accounting criterions organic structures regulate guidelines and regulations to supply a individual set of high quality planetary accounting rules. This creates uniformity among accounting users and the accounting rules that are used by companies, as fiscal statements of companies are either indistinguishable in format or near to it. Companies do non hold to fix different fiscal statements for the different states their concern are established in. .uc3891d718324ee7343fe47350251872e , .uc3891d718324ee7343fe47350251872e .postImageUrl , .uc3891d718324ee7343fe47350251872e .centered-text-area { min-height: 80px; position: relative; } .uc3891d718324ee7343fe47350251872e , .uc3891d718324ee7343fe47350251872e:hover , .uc3891d718324ee7343fe47350251872e:visited , .uc3891d718324ee7343fe47350251872e:active { border:0!important; } .uc3891d718324ee7343fe47350251872e .clearfix:after { content: ""; display: table; clear: both; } .uc3891d718324ee7343fe47350251872e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc3891d718324ee7343fe47350251872e:active , .uc3891d718324ee7343fe47350251872e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc3891d718324ee7343fe47350251872e .centered-text-area { width: 100%; position: relative ; } .uc3891d718324ee7343fe47350251872e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc3891d718324ee7343fe47350251872e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc3891d718324ee7343fe47350251872e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc3891d718324ee7343fe47350251872e:hover .ctaButton { background-color: #34495E!important; } .uc3891d718324ee7343fe47350251872e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc3891d718324ee7343fe47350251872e .uc3891d718324ee7343fe47350251872e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc3891d718324ee7343fe47350251872e:after { content: ""; display: block; clear: both; } READ: Character Sketch of Chaucer's Knight EssayAnother importance of the fiscal accounting criterions is that it will help in the riddance of barriers to traverse boundary line trading in securities by guaranting that company accounts are more dependable and apprehensible every bit good as more easy interpreted and compared. As a consequence, there would be an addition in market efficiency and a decrease in the cost of raising capital for companies, finally bettering fight and helping in the growing of the economic system. An extra importance is that the international accounting criterions lend protection to companies against malpractice. Therefore, investors along with the assorted stakeholders will be able to construe and compare fiscal statements of other companies. This helps companies to vie efficaciously on equal footings. And besides enable investors and others to do more strategical determinations. It is of import for concerns to fix and describe fiscal statements under the international accounting criterions as it makes investing determinations more compatible for foreign investors. Fiscal statements would be easier to construe and analyze, and this may ensue in an addition in foreign investing for the concern and state. Furthermore, companies that prepare and report fiscal statements under the international accounting criterion, tend to hold less or no disagreements in their fiscal statements and accounting information. In return this consequence in companies holding more dependable and valid fiscal statement. As a consequence, there is a decrease in the likeliness of the users of fiscal information misinterpreting published fiscal statements and cut downing chances for prejudice, ambiguity and inexactitude. Equally good as cut downing uncertainness of both local and international investing. Furthermore, companies should follow the guidelines of the international accounting criterions as it helps them in the readying of the fiscal statements in a given clip period and give guidelines as to what information the concern or administration are apt to print. This means that companies should print their fiscal statements on a timely footing ; this normally depends on the type of concern being operated. Large companies tend to print their fiscal statements on a annual period while little companies may print their information quarterly. And stakeholders can non demand or anticipate certain information of the concern or administration to be publically published. If a company prepare and describe its information excessively early or tardily, so the company A ; acirc ; ˆâ„ ¢s statements would either show that the concern is extremely profitable or non profitable at all. So timing is really of import when printing fiscal statements of an administration or concern. Furthermore, with concerns fixing and describing fiscal information under the international accounting criterions, directors are better able to analyze the public presentation of their concern. This is so because concerns are utilizing standardize accounting processs and they are able to compare and contrast their growing with that of their rivals. Comparison of rivals A ; acirc ; ˆâ„ ¢ fiscal statements enables directors and investors to acknowledge the strengths and failings of the concern. Besides, utilizing the international accounting criterions as a guideline for the readying and coverage of fiscal information allow directors to compare past and present public presentation of the concern. This will in bend, assistance directors with the rating of their concern growing and step the accomplishment of their concern. Overall, concerns that use the international accounting criterions as a footing of fixing and describing fiscal information tend to hold a batch more benefits than effects.

HRM Strategies and Challenges Free Sample for Students-Myassignment

Question: Discuss about the Strategic Human Resource Management. Answer: Introduction Human resource management is such a wide term which covers enormous functions, policies, strategies, tactics and approaches to manage the human resources in the most efficient manner. To have a sustainable and successful business organisation, the primary need is to have an efficient HRM department which can offer the utmost benefits and convenience to human resource of the organisation. With change in time, companies have changed their outlook and perceive the development of the human resource more significant than increased profits and sales (Hendry, 2012). One such organisation is Justitia, the organisation is well-recognized for its endeavours in the direction of workplace flexibility, employee development and work-life balance. The essay will highlight the role and importance of strategic human resource management in overcoming the challenges of HRM and managing the human resource in the most efficient manner. The essay will demonstrate the different theoretical perspectives of strategic human resource management. It will also have its focus on the initiatives of Justitia in overcoming the traditional ways of managing the human resource and having high work-place flexibility. Role of Strategic HRM in managing human resource and overcoming HRM challenges The strategic human resource management and its role can be better explained with the theoretical concepts. There are majorly four main theoretical perspectives of SHRM that includes resource-based, strategic best-fit, configurationally and universalistic. As per the universalistic theoretical aspect, there is only one single way which is applicable on all the organisations, for managing the human resource irrespective of the size, culture or business function (Hsieh and Chen, 2011). It was the traditional way of managing HR and Justitia adopted a step ahead to change this traditional way of HRM. The second theoretical aspect is Strategic best-fit, in this perspective; there is incorporation of the specific human resource practices which matches to the overall business strategy of the organisation. Justitia have incorporate workplace flexibility approach in the organisation to offer the employees the freedom to work as well as mange their personal lives at the same time (Armstrong an d Taylor, 2014). The third theoretical perspective is configurationally, according to this aspect, there is integration of the human resource practices in an integrated manner for improving the business. It works on the fundamental that if the HR practices implemented at one industry has benefitted that industry then it will also promote the human resource management of other industry too (Boselie, 2010). As per this perspective, there is more of bootlegging practices, the organisation do not take an initiative by themselves rather adopt an already existing and applied HR practice whose results are known. The last and the fourth theoretical concept of SHRM is the resource-based, under this perspective, the human resource management improves and develops by retaining, utilizing and developing and acquiring the organisational workforce with improved competence and skills levels which are relevant to the operations of the business organisation. In this approach, the resources and their competence are ma tched witch the activities and then there is integration of both these things for achieving organisational success and human resource development (Kraaijenbrink, Spender and Groen, 2010). Out of all these theoretical concepts of strategic human resource management, most of the organizations take use of Strategic best-fit as it is one of the most contemporary and best applied approaches which offer the organisation with best maximum benefits. It is argued that it is very much essential to smash the old paradigm of work designing and human resource management practices because with the changing time and demand for competent workforce, the organisation are required to implement the policies which are in the favour of the employees and their development. There are several factors which are required to consider at the time of replacing the old practices with modern approaches such as improved work life balance, flexible working arrangements, and employee development and employee recognition (Pot, 2011). Earlier the organisations do not emphasize more on the human resources as they were more directed to have upsurge sales and organisational productivity and it resulted in increased rate of employee turnover (Meister, Willyerd and Foss, 2010). But when the organisations realised that retaining the competent and skilled employees in the organisation is the most primary requirement of any company for higher sustainability and continuous growth, organisations like Justitia challenged the traditional ways and smash the old paradigm sand establishes practices which offers the workers with increased workplace flexibility so that they retain the organisation for a longer period of time and give their hundred percent in enhancing the organisational productivity and accomplishing the targets and goal (Boxall and Purcell, 2011). There are several potential problems and issues which come across at the time of implementing the changes in the human resource management practices and the traditional way of managing of the organisational employees. There are challenges and issues such as resistant to change, it is not essential that all the employees are satisfied and contended with the changes made by the organisation. There are several employees which have resistant towards such kind of changes. Another challenge is the industrial support, the initiatives adopted by Justitia are not easy to implement in all the organisations as most of the companies work as per the industrial norms and regulatory factors (Cummings and Worley, 2014). Any kind of change in the practices make the organisation faces numerous challenges from the industry. The next problem which occurs is the effective execution and management of the changes. Organizations suffer number of issues if the execution and the management of the changes taking place are not adequate. The poor management may results in decline in the oragnisational productivity because of high amount of flexibility offered to the employees, less focused on the job role, employee absenteeism, etc. There can also be suits files against the industry in reference with going against the set industrial norms. It is essential to manage these problems and issues. For effective management of these issues, the organisations can have governmental support by demonstrating the advantages offered to the organisational employees of implementing those changes. Secondly, there must be setting up of an efficient management team which can help in overcoming the issues of resistance to change and effectively carrying on with the execution and change management work (Werner and DeSimone, 2011). From the perspectives of different organisations, it is not viable to have a similar approach in all the organisations of all the industries. There are several things which are required to be taken care of before implementing a similar approach at all the diverse set of organizations. For instance, in the healthcare sector, the organisations cannot incorporate this approach as there are patients who require the services at any point of time, thus, in such organisations there can be not offered workplace flexibility to the employees. They are required to be present at the workplace in their working hours as well as many a time even after their working hours get over because of the emergency cases (Boselie, 2010). But the similar approach, like Justitia can be implemented in the retail sector organisations, such as Woolworths, here the employees can get the advantage of workplace flexibility. The organisation can implement flexible working arrangements at the workplace as it is a super market chain, so there can be two shifts of the employees or taking sue of job rotation for assisting the customers in product selection, finding of products, boiling, answering queries etc. The employees can also get flexible working arrangements as there can be automated billing instead of manual billing; it will offer the flexibility to the employees to have relaxation from the compulsory presence at the billing counters. The next recommendation by which there can be workplace flexibility is that by offering part time jobs to the students and other graduates so that they can earn while studying (Greenhouse, 2012). This will offer flexibility to the employees to continue both the academic career and the profes sional career. Conclusion Human resource management is a highly dynamic aspect of the organisations as with changing scenario there are several changes which take place in the HRM practices and functions. An effective strategic human resource management is the key to organisational success and development. From this essay, it can be concluded that, the innovative and contemporary approach implemented by Justitia is one of the renowned approach which offers maximum workplace flexibility and benefits to the employees. This results in developing stress-free working environment for the employees as well as also enhanced the employees motivation to work in a more efficient and productive manner. But from the overall, perspective, the approach is not viable for all the organisations as there are diverse set of functions, services and human resource needs in the organisations. Thus, the approach implemented by Justitia is one of the best examples of Strategic best-fit theoretical perspective but it is also essential to have a proper analysis of the organisation before having changes in the human resource management practices and policies so that the organisation can attain most possible benefits from the changes References Armstrong, M., Taylor, S. (2014).Armstrong's handbook of human resource management practice. Kogan Page Publishers. Boselie, P. (2010). High performance work practices in the health care sector: a Dutch case study.International Journal of Manpower,31(1), 42-58. Boselie, P. (2010).Strategic human resource management: A balanced approach. Tata sMcGraw-Hill Education. Boxall, P., Purcell, J. (2011).Strategy and human resource management. Palgrave Macmillan. Cummings, T. G., Worley, C. G. (2014).Organization development and change. Cengage learning. Greenhouse, S. (2012). A part-time life, as hours shrink and shift.The New York Times,27. Hendry, C. (2012).Human resource management. Routledge. Hsieh, Y. H., Chen, H. M. (2011). Strategic fit among business competitive strategy, human resource strategy, and reward system.Academy of Strategic Management Journal,10(2), 11. Kraaijenbrink, J., Spender, J. C., Groen, A. J. (2010). The resource-based view: a review and assessment of its critiques.Journal of management,36(1), 349-372. Meister, J. C., Willyerd, K., Foss, E. (2010).The 2020 workplace: How innovative companies attract, develop, and keep tomorrow's employees today(p. 5). New York, NY: Harper Business. Pot, F. (2011). Workplace innovation for better jobs and performance.International Journal of Productivity and Performance Management,60(4), 404-415. Werner, J. M., DeSimone, R. L. (2011).Human resource development. Cengage Learning.

The control of intellectual property has played an important role in the development of media technologies

Introduction Historically, intellectual property rights, IPR, have played a pivotal role in safeguarding all types of creators in business, scientific and artistic fields. In media technologies, besides providing effective mechanism of protection, the IPR has provided ethical means in which the creators or inventors can appreciate their efforts.Advertising We will write a custom essay sample on The control of intellectual property has played an important role in the development of media technologies specifically for you for only $16.05 $11/page Learn More Although recent years have witnessed a proliferation of creativity and knowledge exceeding the precincts of mainstream protective measures, IPR has continued to evolve, in tandem with these happenings. Media technologies have witnessed more challenges. These challenges have spanned all spectrums of the society. They include ethical, technological, political, and legislative spectrums, among others. Desp ite these issues hampering the process of achieving their success, they have granted opportunities for various stakeholders involved in devising methods which fix their effective utilisation. Hence, in recent years, laws, policies and technologies among other strategies, have been constituted to control how media technologies can be used without compromising the intellectual property rights. The author describes how the control of intellectual property rights has contributed to the development of media technologies. In achieving this objective, the author notes that various strategies implemented focusing on intellectual property rights have been pivotal in controlling how media technologies are produced, distributed and used. Measures, such as legislations and technology among others, have provided an elaborate framework in using media technologies. Besides, various laws have been enforced to control or protect intellectual property. Further, the author demonstrates using Napster a nd Sony Vs Universal Studios as case studies to demonstrate issues that have resulted by not embracing the role of intellectual property rights. Discussion For several years, legal controls have been used to safeguard the society against threats which can occur unexpectedly. Legal controls have provided an effective mechanism in addressing the issue of intellectual property rights. Presently, the world has become a global village; the dawn of the internet has resulted in what we call digital revolution.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the media industry, digital revolution has created what is known as new digital media; hence, digital media has become a common phrase widely embraced in technology and media industries. It is a technology which is enabled by the internet. New digital media has imposed a challenge to conventional copyright policy. Thus, many organisations owning copyrights argue that the digital media have simplified prospects for intellectual theft. Intellectual Property Online (53) illustrates that new media have provided new challenges in terms of intellectual property rights. Intellectual Property Online notes that devising higher protection standards than was with earlier terms of copyright law will help to neutralise loss of revenues (57). Legal Control Measures and Controls The Digital Millennium Copyright Act and the European Union Copyright Directive Despite the differences, Digital Millennium Copyright Act, DMCA and the European Union Copyright Act, EUCA, have balanced the opposing differences in protecting digital media. The acts own a similar purpose of fixing a secure environment for relaying digital media contents (Intellectual Property Online 58). The Acts contain terms making it unlawful to circumvent copy-protection technologies in order to access unauthorised content. The acts also provide protection to other illega l activities such as distribution, production and making content available with intent of encouraging circumvention. Intellectual property owners are concerned about the illegal appropriation of contents as it restricts them from profiting from their efforts. The DMCA and EUCD with an aim of disciplining unlawful appropriation outlined specific rules to incorporate technology protecting copyright work and granting honest users to fulfill their rights (Lucchi). The anti-circumvention provision of the DMCA prevents three types of misdeeds. According to Digital Rights Management, it outlaws evading technological measures that prevent access to copyrighted work (104). Secondly, it forbids trafficking in devices that can improve circumvented access controls. Lastly, it restricts trafficking in circumvention devices for technological measures that safeguard the copyright, owner’s exclusive rights such as copying and distribution. On the other hand, EUCD promotes three areas in its strategy. These areas are the distribution rights, reproduction rights and the rights of communication (Lucchi). The Act also seeks member countries to provide legal procedures to guard against circumvention for technological measures that cover works. It criminalises circumvention in any approach regardless of the rights it protects (Digital Rights Management 106). The two laws, presently in force, provide content owners with a stronger opportunity to implement their own regulations and limits on the use and access of digital content.Advertising We will write a custom essay sample on The control of intellectual property has played an important role in the development of media technologies specifically for you for only $16.05 $11/page Learn More Intellectual Property Enforcement New European Pattern To ensure secure digital media content and guarantee strong individual user’s deeds, the EU enforced the intellectual property rights as a regulation that compels member countries to generate decisive, reasonable, proportionate procedures, and remedies against copying and piracy. Davis explains that these measures were aimed at providing absolute protection to copyright violations (78). The European Union asserted that enforcing the law was necessary because without a careful and effective security, creativity and innovation was deemed to die. This regulation compels that it is necessary to ensure the substantive law on intellectual property is administered properly across the society. This is because administering is a key objective for success for protecting intellectual property. The European Union notes that a rapid increase in piracy and intellectual property rights and violation of intellectual property is a phenomenon which has a global outlook. When left unchecked, it poses a dire threat to society. Hence, the enforcement measures and other procedures are essential to defeat the challenge. Copyright Legislations Many con ventional and envisaged applications embracing digital media focus on transferring, recording or finding contents instead of transforming contents to new ones. For instance, applications that would have easily recombined personal media with elements from other public and other mass media, offer new areas in which copyright law and policy succeed (Lucchi). Most copyright regulations have shifted towards giving greater security and universal rights to copyright owners. According to Litman (2000), this illustrates a shift from the conventional pattern of prohibition by the acceptable use of copyrighted materials to all unauthorised use as illegal. Besides, older protection that was envisaged under the US copyright laws, for instance, is facing a threat with the shift to the digital domain. This, according to Stallman (2004), has led to the role of copyright entirely reversed. The digital technology has transformed it into a system that allows producers to confine the public into apprec iating the works of authors. In the digital communication layout, there are typically developments which have dramatically changed the course of accessing copyrighted information. According to Davis, these developments are zero marginal cost of copying, negligible cost of posting or producing new information on the internet and zero cost of transmission over the internet (80). With zero costs for duplication of information, the cyberspace technologies feel threatened. Therefore, there is a need to restrict ‘’theft’, by embracing new technological advancement that encourage fair use’ principle, a fundamental aspect of copyright principle (Davis 83).Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fair Use The intellectual property rights, IPR, have simplified the manner in which the society engages in the proper use and access of copyrighted content. This has been achieved through a concept known as fair use. In the United States, the Fair Use Doctrine encourages acceptable use of copyrighted materials without permission or license, for purposes such as news reporting, comments and teaching, among others. The statute has extended fair use in various ways (Borland). This includes time-shifting, in using a VCR to time-shift when a person is viewing television programs and format shifting as in creating an MP3 format version of an audio CD that a person already owns. Assessing when to use of copyrighted content under fair use has been analysed by the courts on a case by case basis. This has been done using the four codes. These codes include the intent and spirit of the use (whether for nonprofit aims or commercial), the amount and substantiality of the potion used for the copy righted work and impact of use on the potential market. These codes are covered under the United States Code (Dittmann 7). However, fixing fair use has been a difficult task because of the contradictory interpretations set forth by legal scholars. The distinction of rationalisation hinges on whether fair use is a confirmatory right that permits copying in specific conditions or just a defense used in cases of copyright violation (Dittmann 6). When understood along the confirmatory right attitude, fair use is an essential part of copyright law that safeguards the constitutionally guaranteed rights of an individual’s free expression and free speech. On the contrary, when fair use is understood along the defensive line, copyright creators and technologies that enable them can limit a person access to digital media; granting fair use no longer an alternative available to the wider society. Copyright creators would then control access and use of digital media. Technology Control M easures The rapid technological progress in information and communication has fixed new legislative and judicial effort to restructure intellectual property rights in the digital media. This is to fix equilibrium between consumers and the legal owners. Hence, in today’s information society, technology control is directed by various international conventions and compliance with the state legislative practices. Technology control legislation then supports enforceability. Acts such as EUCD and DMCA recognise a legal status and offer a candid constitutional protection for copyright management and technological measures preventing unauthorised use and determining the conditions for permitted use (Lucchi). According to Borland, technology provides no issue to any legal control. It oversees transactions on an authoritative manner (Borland). Because of these characteristics of technology, intellectual property laws have undergone various amendments to support the needs of the technol ogical world. The role of technology in safeguarding intellectual property has been varied. One of the roles it achieves is preventing users from gaining access or engaging in practices such as copying. It also allows creation of licensing business models. These models permit holders to have the right of choosing their own discretion terms and conditions for use and access to their work. They also set in technical devices used in accomplishing their tasks. In absolute terms, technology cultivates the authority or grants the rights holder privileges to determine how his/her work should be used. Borland explains that different technological expressions have been expanding to keep contents from unauthorised copyright infringement and ease overseeing the use of media by the society (Borland). Terms such as technological protection measures, self-help systems, automated rights and digital rights management systems are springing as a result. These expressions point to an automated archite cture that can manage and protect distributing digital works. Besides, these measures provide easy transfer of digital works from inventors and publishers to consumers. Technological features to Protect access rights and control The inclusion of copy protection devices has been an element of various digital media. Several methods have been employed to ensure reasonable access to contents is guaranteed (Stenger). These measures are grouped into rights control and access control. Rights control limits a user’s capacity to engage the rights of the content owner. Access control involves a concept of access privileges to succeed a given operation. Access controls have granted legal protection than conventional controls. The rights holders are guaranteed more incentives of use than rights controls to improve stronger legal protection against circumvention. Transformative Technology Digital media technology has fixed significant changes in sharing and producing information. These ch anges have had a sweeping effect on copyright law and policies. Dittmann illustrates in his journal, IEEE Multi-Media: â€Å"This has had a deeper impact on digital media, that media can easily be expressed in the form or meaning’ (5). While he noted this transformative characteristic of digital media as a risk to technological and copyright defense actions, it is the transformative environment of the digital media that most promises protection of fair use rights (Stenger). Media technologists are involved in inventing new ways. These ways make the present and future digital media support intellectual property laws and policies that promote freedom of expressions and fair use privilege. Hence, the media technologies will strive to safeguard users and not primarily the data stored in it. According to Stenger, technologies strengthen and support transformative elements of digital media by making them available, reusable and accessible through establishing and using metadata (S tenger). Evolving technology Current trends in information technology have provided new alternatives in safeguarding intellectual property rights. Though some have proved successful, others have contributed to more infringement opportunities. Initiatives to establish barriers, for example, the Secure Digital Music Initiative, SDMI, have emphatically failed. Similarly, other efforts such as the Macrovision’s ‘snaps and crackles’ technology have also failed. Borland, in his article â€Å"Snaps, Crackles May Stop CD Piracy†, illustrates that ‘snaps and crackles’ technology inserts bits in a PCM encoded music on a CD (Borland). When such a CD is compressed with an MP3 algorithm and preserved with the data file on a computer system, the music gets corrupted with audible crackles and snaps on playback (Borland). These industry actions, although viewed as a big achievement, do not guarantee security of content. They are short-term remedies. Case Stud ies The Napster – Illegal File Swapping Illegal file swapping draws a common global threat to intellectual property rights enforcement. File swapping involves having a file sharing software or peer distribution system. The service allows users to freely exchange or share music files or other copyrighted content on the internet. Because these files are protected from copyright, less legitimacy has been attached to MP3 file size. McCourt and Patrick illustrate that Napster, which was founded in 1999, was a well-known online business which embraced peer-to peer network in heightening illegal file sharing practice (335). The Napster example illustrates the effect of intellectual property rights issue in the new digital world. Napster was an online music business which provided music sharing services. According to McCourt and Patrick, Napster operated on the idea that when someone pays for a given song or album, he had a right to ‘share’ with others (336). During the pre-internet days, sharing convention was widely embraced, because any person would give a friend a book or a video cassette without minding copyright infringement. It is well noted that non-commercial consumer copying is a fair use under the copyright regulation. However, in the digital age, things have changed because of the unlimited number of copies which can be made. Napster music sharing succeeded three distinct phases. The first phase was a user browsed the Napster website and entered the music of choice using his/her personal computer. The user’s machine then searched similar machines on the internet running a similar program. Once the search was over and the music found, the user then selects the device and transfers the MP3 music file containing the music. The Napster peer-to-peer technology allowed online connected computers to connect without passing, by means of a central file server (McCourt and Patrick, 342). This established a system that constituted internetw orked computers with share files stored in a single computer and controlled by simple share software. Napster had to face many legal issues because of its service of free music sharing. This was because it was violating the copyright rules of the owners of the music. After lengthy and protracted legal battles involving intellectual property infringement, Napster had to submit and presently, the e-business offers subscription services. It pays royalties on copyrighted contents. Although Napster story has cooled, many other e-based organisations have taken the Napster theory and enhanced it. According to Stenger, among the ideas evolving after Napster collapsed is that some e-based businesses have created offshore Napster sites. These sites blend two lengthy issues of the legal jurisdiction of the internet and the intellectual property rights (Stenger). Stenger, in his article â€Å"Entrepreneur Proposes Offshore Napster Clone†, notes the companies which compete with the Napste r ideas use the pig Latin, or other unique misspelling to obscure music filenames blocked by Napster (Stenger). Napster case shows the challenge that most mainstream music industry businesses have in this internet era. Thus, these issues are anchored on assumptions of technological obstacles that no longer prevail. Despite the courts neutralising the Napster case, the challenge of music sharing is common; undoubtedly, the future will encounter many problems. Perhaps, possibilities of music intellectual property rights will move away from the ownership model to licensing model. However, whether the strategy will reduce music piracy is still under discussion. Sony Vs Universal Studios 1984 Sony and Universal Studios were some of the leading media industries in 1980’s. In 1980’s, most media industries used cassette and audio tapes to distribute, play and store music. Besides, using these media simplified copying of music, hence, people would do themselves without much dif ficulty. This scenario elicited a threat to organisations producing and marketing recorded music. This was because an entire album could be recorded off the air with reasonable reliability. However, loss of music quality was causing an outcry from the listening public, besides, the copies successfully produced were poorer in precision. Besides, commercially produced cassette tapes would be borrowed and duplicated. These processes contributed to loss of royalties to the musicians. This was a similar issue that arose between Sony and Universal Studios in 1984, when home video recorder was introduced in the recording industry. Home video recorded made it possible to record video programs such as motion pictures off the air. This signaled that royalties were not paid for subsequent viewing. This scenario prompted a significant legal battle, pitting producers of blank tape and tape recording devices against content producers. This resulted in a court case between the two media industries . The results of the conflict were that consumers could lawfully record content off the air for personal use, they could also sell. However, whereas commercial practice of using such materials was prohibited, home use was not. Conclusion Various technological barriers and legal sanctions have contributed to redefining how media technologies are used in contemporary world. Hence, they will continue to be vital in protecting intellectual property rights. This has been successful, especially in preventing corporate piracy. Hence, at a personal level, they will not be sufficient because the technological barrier has decreased and is unlikely to increase by strategies such as encryption methods incorporated in volumes of produced items. Legal interventions such as Digital Millennium Act and European Union among others, have streamlined media technologies’ use by providing effective guidelines. Hence, with more technologies emerging, these interventions will endeavour to evolve to address the intricacies that come with new technologies. Work Cited Borland, John. â€Å"Snaps, Crackles May Stop CD Piracy, 2012. Web.. https://www.zdnet.com/ Davis, Randall. â€Å"The Digital Dilemma,† Communications of the ACM 44, (2001): 77- 83. Print Digital Rights Management. MIT Alumni Association. Technology Review, (n.d): 102- 109. Print Dittmann, Jana. â€Å"Copyright-Copywrong,† IEEE Multi-Media, (2000): 14-17. Print Intellectual Property Online. A Landmark Case,† Strategic Finance, (n.d): 52-57, Litman, Joseph, The demonization of piracy, 2000; Web.. Lucchi, Nicola. Intellectual Property Rights in Digital Media: A Comparative Analysis of Legal Protection, Technological Measures and New Business Models under E.U. and U.S. Law, 2005. Web. https://law.bepress.com/expresso/eps/615/ Marc, Davis. â€Å"From Pirates to Patriots: Fair Use for Digital Media.† IEEE Multimedia, (2002):4-7. Print McCourt, Tom, and Patrick Burkart. When creators, corporati ons and consumers collide: Napster and the development of on-line music distribution. Media, Culture Society, (2003): 333–350. Print Stenger, Richard. â€Å"Entrepreneur Proposes Offshore Napster Clone,† 2001. Web. http://edition.cnn.com/2001/TECH/internet/03/06/napster.offshore/index.html This essay on The control of intellectual property has played an important role in the development of media technologies was written and submitted by user Tomas Carlson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Fundamental Problems and Readings in Philosophy essayEssay Writing Service

Fundamental Problems and Readings in Philosophy essayEssay Writing Service Fundamental Problems and Readings in Philosophy essay Fundamental Problems and Readings in Philosophy essayThe name of Nietzsche occupies one of the leading places among the greatest philosophers till nowadays. His influences can be traced in postmodernism and existentialism. His theories and views are studied by scientists and students; his profound and sharp understanding of reality and human nature attract attention of numerous people all over the world. His most well-known theory is related to â€Å"Will of Power†. The notion of the superhuman – Uebermensh – as a key to understanding of the power, every human being is bearing inside, totally confronts the general philosophic approach , where all reasons and questions are investigated only the in the frames of sole truth. These ides are developed in his work â€Å"The Twilight of the Idols†, where the readers find Nietzsche’s strong confrontation of the Socrates’s approach of rationalism. His strongest critic of the Socrates’s views re lates to lack of life appreciation and resistance of the human instincts, because he states, that â€Å"Resisting instincts is just a sickness and not at all a way back to virtue or happiness.† (Bailey 2002). Here we are coming closer to the major point of our research, namely to the understanding of morality. One of the most vital concepts of Nietzsche was his suggestion, that morality builds the serious obstacle for enjoying of most of life passions and desires, or how he formulated it – â€Å"morality as anti-nature†.In his work Morality as Anti-Nature Nietzsche is discussing the ways, how religion and morality, spread via religion, are able to change and suppress human nature. Nowadays a lot of people are living according to some biblical rules and precepts. During the times, when Nietzsche lived, the church was considered to be even a stronger mentor for most individuals, who made their choices and selected their life directions only based on the rules, pre ached by the priests. Nietzsche was absolutely against it; he insisted, that religion didn’t consider the very nature of humanity. According to the church all people were to fight against their bad sides, whereas according to Nietzsche all people were born initially good and they didn’t need the religious rules to follow them, but rather follow their own desires and passions. The highest potential in development throughout the whole life can be reached, as Nietzsche stated, only with the help of inside passions, and never the ideals of church. The church demanded from its followers to suppress all the passions in order to become real Christians. In this way the church was exchanging the natural passions of individuals with morality. The idea of free will was also understood by Nietzsche not in the way, as it was presented by the church. The believers were supposed to follow all the God’s rules, as he was the most powerful being, at the same time, they were to ca rry responsibility for their decisions and actions. â€Å"Today we no longer have any pity for the concept of free will: we know only too well what it really is - the foulest of all theologians artifices, aimed at making mankind responsible in their sense, that is, dependent upon them. Here I simply supply the psychology of all making responsible. (Bailey 2002).At this point Nietzsche used this theory for explaining his understanding of cause and effect. â€Å"The church’s use of counterfactual causality expands to an imaginary and false perception in the mind, and people ultimately jump to conclusions, giving all the credit to a higher form or being.† (Bailey 2002). Nietzsche also criticized the situation, when instead of looking for plausible answers, the followers of the church just believed, that the word of God was the only true reason. Thus Christianity, as he wrote, was to bear the responsibility for making its followers closed minded and going against their n ature. â€Å"He ultimately believed that religion creates a concept of anti-natural morality which damages our development as humans quite greatly, eventually ending our status and right as individuals once the church gets involved† (Jacobus 13).In Nietzsche’s eyes, it was an attempt to substitute all the intelligence and natural passions, human beings were possessing, with blind and poor spirituality. In this case, he stated, that those, who could invent all such spiritual and moral restrictions, were ill-willed and not able to control their own passions. They themselves were not inclined to further intellectual and moral development, thus they used morality as anti-nature to restrict other individuals in improvement of their lives. Only individuals, who are absolutely not under control of any morality, could be referred to as ideal human beings, because their actions and choices would be based purely upon their natural passions; their judgments concerning right and w rong things would be under the influence of their inside passion only.Overall, we have studied the key notions of the Nietzsche’s theory, related to the issues of morality, which according to him is the most serious obstacle in formation of life direction, based on the natural instincts and passions. On the one hand, he could be right, saying, that morality itself is certainly restraining the activities and decisions of people, however on the other hand our ability to control our emotions and passions is the major feature, which defines us as human beings, not animals.

Stakeholders Perception of Sustainable Housing Strategies Research Paper

Stakeholders Perception of Sustainable Housing Strategies - Research Paper Example The study also seeks to address the issue of the rising need for housing in Qatar because of economic development in the country besides seeking to advice stakeholders on the appropriate directions to take in providing sustainable housing for the present and future generations. This is because the changing lifestyles call for changing housing systems and hence the need for using materials that are environmental friendly during construction, occupancy, maintenance, and demolitions. Introduction The study seeks to develop a structural framework that can be used in future constructions for eco-friendly housing facilities in the country. This is because the increasing environmental consciousness in the society requires environmentally favorable structures whose applications are also eco-friendly. Environmental sustainability is currently considered as an environmental challenge and a global issue. Sustainable housing can achieve a better environment by reducing the amount of energy consu mption towards a better living environment. This scope identifies achievement of sustainable housing design with the success of both the environment and the residents. It promotes achievement of human comfort through improving ventilation and natural lighting techniques. Sustainable housing is at the same time related to sustainability of building materials and energy use to reduce the impact of housing on the environment. This paper identifies the stakeholder’s perceptions and attitude that influence sustainable housing design in Qatar. This study focuses on increasing awareness of stakeholders toward sustainable housing design by incorporating new technologies, in order to change the unsustainable designs and practices of building. The aim of the study is to recognize stakeholders’ perceptions through the difference and similarities as will be achieve through some questionnaire surveys, interviews, and case studies with different stakeholders. The study will investig ate the strategy of decisions by utilizing the improvement of sustainable housing (Zhengyu and Jay, 2009). Problem statement The existing need for better constructions towards environmental conservation and preservation in the housing sector has not been met because of prevalent application of ancient architectural practices in constructions. Conservative applications in housing constructions have not considered the dynamic environment that has significantly deteriorated to require housing structures that are more sensitive to the environment. The study therefore seeks to develop a framework for bridging the gap between environmental needs and architectural practices in order to upgrade the housing sector to meet environmental needs. The study explores stakeholders’ perceptions over sustainable housing strategies in Qatar and is significant to the society because of its potential to develop a framework for an eco-friendly industry. This will set an example for other industrie s to emulate towards a favorable environment for better living standards. Its significance also extends to the role of a moral agent as it has the potential of promoting social responsibility among investors in the housing industry and the morality can spread to other construction, manufacturing, and processing.

Snakebites Research Paper Example | Topics and Well Written Essays - 250 words

Snakebites - Research Paper Example The use of these anti-venoms has become an effective cure for the infected body and these anti-venoms enable the victims to get back to life within 4-5 hours of the attack by minimizing effect of the poison. This method has proved to be quite successful in minimizing the death of people who suffer from this fatality (Shorter, 1999). In fact, the number of deaths occurring from snakebites has now become almost rare. These anti-venoms go through many processes, such as purification process to ensure their effectiveness. Even then, they may contain certain serums and proteins, which tend to have a reverse reaction on a person that is the reason of extreme supervision required during this method. There are several kinds of snakes’ anti-venoms present globally. Some of them are the â€Å"Tiger snake, Brown snake, Taipan, Black snake, Death adder, Sea snakes, etc† (Shorter, 1999). The proper supervision of these anti-venoms helps keep a check on the patient and prevent the po ison from completely spreading in the body. If the attacking snake is properly identifiable, it makes it easier for the experts to treat the poison accordingly, and it also make it easier for the patient to recover depending on intensity of the bite.

Is edcuation a service industry Discuss and critically evauate the Essay

Is edcuation a service industry Discuss and critically evauate the role of the WTO in education - Essay Example Higher education is increasingly seen as a commercial product to be bought and sold like any other commodity. Higher education commercialization has now reached the global marketplace. According to the American Heritage dictionary, the term "EDUCATION" is defined as the knowledge or skill obtained or developed by a learning process (Answers.com). The World Trade Organization (WTO) is considering a series of proposals to include higher education as one of its concerns, ensuring that the import and export of higher education be subject to the complex rules and legal arrangements of the WTO protocols and free of most restrictions. The demand for higher education, on the one side, is growing, while on the other side, trans-border education is increasing. The capacity of the public sector has not kept up with this demand. This coupled with the recent developments of ICTs and the ensuing growth in online learning has resulted in the creation of this very lucrative market. Though higher education has a higher calling, it will not be able to compete successfully for necessary resources unless its rules comply with those established by the World Trade Organization (UNESCO) . ... Let us take a quick look at the history and evolution of education to understand it from various perspectives. Going back to the world's ancient civilizations of Egypt, China, Mesopotamia and Indo-Harappan civilizations, it's amply clear that the knowledgeable and the wise ones of the society were looked up to "educate" others. Coming a little closer to out times, I'm sure we can talk of various philosophers like Socrates, Plato, Seneca, Archimedes etc, who are even today acknowledged as some of the world's greatest thinkers and to make a point were in demand to "educate." At that point there was, strictly speaking, no concept of standardization. Education, especially the primary education has spin offs and major economic, social and financial implications on the society. Some of the economists have gone to the extent of linking primary education with the growth of a country's Gross Domestic Product (GDP) (Economics of Higher Education, 2003). Furthermore, education plays a very critical role in not only shaping an individual's capabilities and competence but also has spin - offs on nations. On inspection of history, one can also fairly conclude that economic growth has happened around the seats of education. Also there was great social differentiation between the educated and the not educated (UNESCO). Massing of wealth by the educated and the depreciation of values, later on, has lead to many social revolts, which is a different story and line of pursuit. By the end of the 19th century, all nations globally had recognized and set up some systems of education essentially aiming at long term growth prospects for themselves ( UNESCO). The burgeoning needs for education driven by governmental support, spurn the parental

Price elasticity income elasticity and cross elasticity

Price elasticity income elasticity and cross elasticity Explain the concept of elasticity of demand and discuss the factors that determine elasticity of demand. Distinguish between price elasticity, income elasticity and cross elasticity of demand and evaluate on their importance especially to businessmen. Solutions to Question 2 2.1: Concept of Elasticity of Demand Elasticity is a term that was initially developed by known economic scholar called Alfred Marshall, and has been since used in measuring the relationship that exists between product price and its quantity demanded. It typically followed the law of demand that states that the lower the price of goods and services, the higher the quantity that will be demanded of such goods and services i.e. it primarily explains only the actual directions of changes in the demand for the commodity, but not really explaining the extent of that change. A further development on these lapses led to the concept of elasticity of demands. In practical term, elasticity means the act of responsiveness. Meanwhile, elasticity of demand has been theoretically defined as the responsiveness of the actual quantity demanded of a product to the change in its actual price. E.K. Estham argued further that elasticity of demand could be defined as the measure of the degree of responsiveness of the quantity demanded to any small change in its price. This measure of the degree of responsiveness of the actual quantity demanded of a product to any changes in its price can be calculated with the use of the formula below: A good diagram to represent the established downward sloping curve of elasticity of demand could be seen as the incremental changes that are caused in the quantity that is demanded along the x axis, notably going in the opposite directions that are relative to these changes in the commodity price along the y axis. Below is figure 1 that aptly depicts the degree of responsiveness of demand due to changes in prices of the commodity: Thus, vivid observations of the above elasticity of demand complement the simple mathematical presentations of the elasticity of demand as presented above. Notably, the elasticity of demand is commonly expressed as Ed. Diagram 1 above indicates that depending on the actual responsiveness to any changes in prices of commodity, elasticity of demand could be either elastic or inelastic as seen described through the angles of the above demand curves. Importantly, economist have argued that the flatter these curves, the more elastic is the price of the commodity, meanwhile steeper curves will mean the more the price is inelastic. 2.2: Factors that determine elasticity of demand Below are the important factors that directly or indirectly influence the degree of demand to any small change in price: 1. Nature of the commodity Elasticity has been argued has primarily depending on if the actual commodity to be demanded is a basic necessity, a comfort or a luxury. This is because goods that fall under the basic necessities of life have been categorized as having inelastic demand, while those comforts and luxuries goods are categorized under the elastic demand. 2. Availability of the substitutes of goods or services Goods or services with available substitutes have been theoretically and practically argued and established as having elastic demand and those goods and services that are without available substitutes normally have inelastic demand. Good examples of these goods are coffee and tea that serve as substitutes to each other. They are substitutes because a change in the price of tea might make people to switch over to buying coffee. Alternatively, an increase in the price of coffee may also make people shift to buying tea. But a good example of inelastic good is salt because it has no substitute. 3. Uses and/or applications of the goods or services The usage of goods or services may affect its elasticity either elastic or inelastic. Good example is electricity, any decrease in its price will eventually led to consumers ability to make more use and further establishing electricity as having elastic demand curve. 4. Consumers proportion of the income that is spent on the commodity Practically we have noticed that the consumers can spend only a very small percentage of its income in buying such goods. Good example is salt and matches that normally take a very small percentage of consumers income, making them having inelastic demand curve. 5. The prices of goods Generally speaking, cheap goods and services normally have inelastic demand curve, while the expensive goods normally have elastic demand curve. 6. Income of the consumers Scholarly arguments have shown that the rich or high income earners normally have inelastic demand curves for their goods and services, while the poor or lower income earners normally have elastic demand curve. This is because he rich and high income earners will buy the goods and services at every levels of its prices, whereas the poor or lower income earners tends to change along the quantity of their consumptions due to changes in price. 7. Time period Evidence has shown that elasticity of demand would better occur in the long run production of the goods or services than at the short run. This is primarily because in the long run production and supply processes, the consumers could adjust to their individual demands by switching or trying cheaper substitutes. Industry evidence has shown that productions of the cheaper substitutes are only possible only at the long run operational processes. 8. Income and Wealth Distribution in the society The presence of unequal distributions of the national income would the demand for the goods and services to be relatively inelastic. Most advance countries that allow even distributions of their income and wealth will make possible elastic demand for its commodity. 2.3: Differences between price elasticity, income elasticity and cross elasticity of demand Below are the three types of elasticity:- Price elasticity Income elasticity is further divided into 3 i.e. Zero income elasticity of demand, Negative income elasticity of demand and Positive income elasticity of demand. Cross elasticity 1. Price Elasticity of demand Price elasticity of demand has been defined as the actual degree of responsiveness of the quantity that is demanded of a good or services in response to the changes in its actual price i.e. price elasticity of demand primarily measures how much of a change in actual price of any good that affects the demand for these goods or services, leaving all other factors to be constant. To calculate price elasticity, there is need to divide the proportionate of change in the quantity that is demanded by the proportion of change in the price. EP= Percentage change in the quantity demanded Percentage change in the price 2. Income elasticity Income elasticity of demand has been argued as measuring how much of a change in consumers income that affects the demand for such goods or services if its price and all other factors remained constant. Below is the formula for calculating income elasticity of demand: EY= Percentage change in the quantity demanded Percentage change in the income As divided into three, Zero income elasticity shows that a change in the consumers income will have no significant effect on the quantity that is demanded of such goods. Good examples are salts, matches and cigarettes. Next is negative income elasticity that shows that an increase in the incomes of consumers will lead to the decrease in the quantity that is demanded of such goods. This situation mostly occurs in inferior goods. Last is positive income elasticity that means an increase in the incomes of consumers will lead to the increase in quantity that is demanded of such goods. 3. Cross elasticity Cross elasticity of demand measures the actual change in the demand for commodity A due to the change in the price of commodity B. ED= Percentage change in the quantity that is demanded of commodity A Percentage change in the price of commodity B The above formula indicates that if the goods or services that have substitutes and cross elasticity are positive i.e. as above any increase in price of commodity X will finally result in the increase in sales of commodity Y. 2.4: Importance Elasticity of Demand to businessmen. As evident above, the concept of elasticity of demand has been playing a vital role in the decision making processes of the business world, especially as it relate to fixing commodity prices with the aim of making larger profits. Good example is if the cost of production tends to be increasing the company will want to pass this rising cost to the consumers through raising the price of the commodity. Practical examples have also shown that some companies do change their commodity price even without any visible change in the actual cost of their productions. But practically, whether the raising price is following any rise in the cost of production or otherwise has proved to be beneficial depends on the following situations: The actual price elasticity of the demand for such goods or ser product, i.e. the percentage change is subject to how high or low the proportionate changes in its actual demand relate to the percentage change in commodity price. The price elasticity of the demand is also very relevant for business in determining the value of their substitute, this is because when the commodity price increases the actual demand for the product substitutes also increases automatically even if the products prices generally remained unchanged. Businessmen are also able to know that increasing the price of their goods would only be beneficial if: The demand for their products is less elastic The demand for their products substitutes is also much less elastic. Finally, the usefulness of elasticity of demand also stands in its ability established the required quantitative relationships that exist between the quantity demanded of a product and its price or any other determinants of demand. Question 4: Discuss some of the characteristics of the Malaysian economy. Discuss some of its weaknesses and suggest some appropriate policy proposals to strengthen the economy in order to enable it to become a developed economy by 2020. Solution to Question 4: 4.1: Characteristics of the Malaysian economy. Malaysia is one of the countries located in the Southeastern Asia. The capital is called Kuala Lumpur. Malaysia comprised of two parts, one part is the Peninsular Malaysia and while the other is the East Malaysia which is called Malaysian Borneo. The Peninsular part has 11 states while the East Malaysia comprises of 2 states. Malaysian economy system is an open economy system; the economic involves domestic community and the international community. More so the economy is a state oriented market economy. The country has a fast growing economy. The economy was ranked 3rd largest among the south East Asian countries in 2007. Where Malaysia suited is a great advantage for its foreign trade. Malaysia GDP The Gross Domestic Product of Malaysia depends solely on its agricultural, manufacturing industries and the service sectors.  The agricultural sector contributed 9.7 % to the country GDP in 2007.   Also in the area of manufacturing industries it contributed 44.6% to the country and t of service sector contributed 45.7 % as well to the GDP. For the PPP (Purchasing Power Parity), the country is ranked 29th in the world. They have GDP growth rate of 20 % and it was realized towards the end of 20th century. In 2009 GDP of Malaysia was estimated US$ 207,400 billion PPP was calculated to be $ 3.9 billion. Malaysia Natural Resources Malaysia is rich natural resource, like agriculture, minerals and forestry. Most agricultural plant resources of Malaysia are rubber, pine apple, palm oil tobacco etc. The countrys economy In the area of Forestry, the loggings contributed a larger amount to the countrys economy. More so, in the plantation area is timber, rubber plant and palm tree. When we talk of minerals resources, Malaysia is a rich deposit of minerals like tin and petroleum. Sectors of Malaysia Economy Malaysian Industries Mining Industry: Malaysian Economy Malaysia mining industry has contributed a lot to the economy through the export of mine products. The most important ones are oil, gas and tin. Malaysia was ranked has the worlds largest producer of tin in 1980. The sea transportation was easy because the mine is located in location of the mines in the peninsular Malaysia. Crude oil production and natural gas has increased to a higher level over the last few years. In 1999, the overall production of petroleum reached 693,000 barrels. Production of liquefied natural gas was estimated to be 3.8 billion cubic feet. There are major oil refiners in Malaysia Manufacturing Industry : Malaysian Economy In Malaysia there are many developed manufacturing industries. The manufacturing industries of Malaysia are, electronics manufacturing industries, furniture manufacturing industries and Food processing industries etc. In the sector of manufacturing, the country is ranked in the 23rd position in the world countries. Malaysian Services Malaysian Tourism: Malaysian Economy Malaysia in the sector of tourism was ranking the 9th position in the world. The common tourism locations in Malaysia are Kuala Lumpur, Sabah, Perlis, Malacca, Terengganu etc Banking and Finance: The bank Negara Malaysia is in charge of finance sector. Master Plan was introduced in 2001 after the 1999 financial crisis and this gave more room for to Islamic banking. May Bank is said to be the largest bank in Asia Pacific that practice Islamic Banking. However Malaysian government plan to give licensure to more sectors by the end of 2010 to improve the opportunities of Islamic Banking. 4.2: Some Weaknesses in Malaysian economy. 4.2.1: Political Weakness In Malaysia Malay half of the population holds the constitutionally position in society, and this a kind of discrimination among the three race, this is not only in jobs but in wealth as well. Controversial Internal Security Act (ISA), give room for detention without trial, has been abuse by the government on many occasions with intention of quelling unrest. More so, some of the detentions government used it to oppress the government opposition. BMI Political Risk Ratings The Malaysias short-term political risk rating (STPR) of 80.2 shows higher compared to other regional country like Indonesia, Philippines and Thailand. As the opposition to Pakatan Rakyat always challenges the BN coalition being witnessed in the defeat of the 2010 budget bill in parliament in 2009, the people thought that general political stability will be maintained. However, it is encourage that Malaysia was able to maintain a peaceful political environment, but this all depend on Prime Minister Najib Razaks his straight to encourage unity in the nation with diverse ethnicity and faiths. 4.2.2: Economic Weakness Malaysias is becoming importer of oil in the next few years, Malaysia Economic openness will be as much of a burden as a benefit, because of it confirmations of a high level of vulnerability to global growth and capital flows. The taxes collected on oil contribute over 40% of the states revenues despite the fact that it was expected to become a net oil importer by the beginning of 2011. Because the government had difficult in having alternative income, this will make hard for the governments function perfectly and maintain economic development, which is potentially leading to stagnate economy. BMI Economic Risk Ratings In the previous quarterly report Malaysias STER rating has being declining to be 73.5. And still Malaysia is still in the respectable V-shaped recovery of 4.1% now the 2009.The actual GDP growth is1.7%), never the less Malaysia is exposed to a Chinese double-dip slowdown, most especially if Beijing was unable to diffuse the satisfactorily recent property bubble in the near future. Malaysia in addition, has a huge fiscal deficit that is over 7% of GDP in the year 2009 and this has bring the LTER rating down to 72.6. 4.2.3: Business Environment Weakness The country will keep price subsidization will a peripheral and it has become part of the economy system or economy life of Malaysia. Some of the big construction project and contract for foreign firm are all under the domain of formal Prime Minister Mahathir Mohamed so they are not directly connected to the government. In order words engaging in businesses in the country will always mean doing businesses with the politically connected people. BMI Business Environment Risk Ratings Furthermore, in (BER) Business Environment Rating Malaysia scores over average which is 63.4 but the score was dragged down because of the comparatively low score of 55.3 for the Infrastructure subcomponent like public transportation, mean while, in 2009 a reduction in the amount of red tape boosted the Institutions subcomponent to a score of 66.9 from 59.4. 4.3: Some policy proposals to strengthen Malaysian economy. There is a recommendation policy which must be followed accompanied with this, is other improvements in the economy. Firstly there should be huge notification should be on diversification. Most of the Malaysias export markets focused on technology sector and electronics which are vulnerable to global slumps in demand, mostly the US, the US are major exporter of Malaysian goods. Opening trade of a country economy is an important factor to decide a kind of exchange rate system that is desirable. If any country relies on trade, the fixed exchange rates provide stability in the market economy. Anyway, when having the exchange rate fixed does not mean the economy will remain competitive in foreign trade when some other countries are faced with inflation. Never the less it resulted to the second element, the inflation rates. The inflation rate of the trade partner is relevant factor so as the inflation of domestic inflation with the fixed rate; in order words the approach is not straightforward. So it is better for the country to remain with the fixed rate to avoid inflation tendency in the economy. Another recommendation is labor market flexibility which is used to determine which exchange is better in a given period of time. In this respect if there is flexibility in the labor market, the fixed exchange system work better. There must be flexible labor market and flexible exchange rate in order to avoid unemployment because of the output shock. Further more, the degree of financial development of the country is important. So when a country seems to be financially underdeveloped, fixed exchange rate is better to avoid urge effects of foreign speculation. Lastly is how to decide on which exchange rate system is better, and the mobility of capital. Mean while, it is better for exchange rate to be flexible when the capital mobility is high. Observation, Malaysias decision in pegging its currency to the dollar seems adequate. With solid financial institutions and credible policymakers, it would be adequate, as well transforming to a flexible exchange rate system. Concludsivly, easing the changings Malaysia will have to persistently implement consistent macroeconomic policies so as to maintain financial stability and sustainable fiscal and external positions. Question 7: Elaborate what you understand by deficit financing. What are its limitation as an instrument of economic development. Assuming that you are the economic advisor to the prime minister and he/she ask for your recommendations to eliminate a federal deficit, what would you recommend? Solution to Question 7: 7.1: Elaborate what you understand by deficit financing. What do we mean by deficit financing this is a strategy or ways to management of money which when spending is more than collected at the same period of time. In order words this is referred to budget deficit, this approach is used in business that is small, household budgets, in corporations and also in, governments sector mostly in all the level. If deficit financing is used in the right way it will help to launch a chain of the event and this will help in financing situation instead of any debt may cause problem or difficult to pay. Mostly common or know example of government deficit financing is how the government stimulate the economy of that country or nation to put a stop to any recession that country is facing. The government has a set aside a plan which will involved using borrow resources to purchase, the government can use different strategy like increasing demand output for product in all business sector of that nation. It also helps in the motivation of many business in o rder for them to hire more employees and it will reduced the level of unemployment in the country during the period of recession. Further more, the consumer confidence and trust will be restored in the market place because of the safe transformation, and these make it safe for the buyer to buy more goods and services. If the economy of a country in closely looked into and the deficit financing is carefully monitored, it will bring back economy stability in the country over short period of time like few month or few years. Deficit spending in economic does not only occurred in the government sector only but also in all business as well A company may plan to spend a certain amount of money as a kind of upfront thinking that they will be able to generate the fund back for investment .An investor or company owner may decide to buy a new machine for the company production with the hope that a new machine will hasten and make the production of goods in a less period of time with larger unit of goods, and with less cost. This kind of idea or strategy in business help the business to flourish and the manufacturer will be able to pay off his debt and have budget surplus instead of deficit, the owner of the business will be debt free and enjoy the surplus. 7.2: The limitations of Deficit financing being an instrument of economic development. In any given economy, the government normally embarked many projects that assisted it in generating the desired economy outputs both in investment and other capital projects. If the government prints more money out it will cause inflation in that economy and this situation usually affected the poor people in that society. The rich will be richer and the poor will be poorer. The buyer straight will be reducing to greater level and the businessmen profit margin will increase. In any society there is always the people that have and those who do not have so any increase made in price domestics goods leads to importation of cheap goods and the domestic goods high price will reduced the export. This in turn leads to adverse in balance of payments. Never the less this will affect the cost of the production because the raw material used in process of production has being increased, so the goods will be increased as well, perhaps it will definitely reflect on foreign investment, it will be le ss attracted by other country. Good example is figure 3 below that aptly depict government spending in OECD countries: Source: OECD (2010). Listed below are the disadvantages of deficit financing and some other cogent reasons to be alert about a National debt. The interest Payment In a society people do not lend to the government with the charity. Government must pay interest on every debt they are involved in just like any one in the society, it was recorded that last year government spent the sum of  £31 billon on interest payments alone. Looking at this in a perspective manner it will equate to 15 p on income tax. This amount is more than what UK spends on National Defense. The government borrowing for the year 2007/08 going to be  £42 billion same amount the government pays in interest. The Crowding Out effects The government debt always affect the private sector because they sell bond to the private sector in order for the government to borrow money and this in turn lead to less private investment because the government has bombard them with the bonds. Also the private spending is more efficient than the government level of spending because the government result to inefficient spending .this is what we called crowing out, the private investor is crowded out with government bonds because the government needs to borrow The financial crowding out The financial crowding out is when the government want to borrow large sum of money and they tried to increase the interest rate on bonds in order to attract many lender. The bonds rate is increased this will definitely put pressure on the interest rate generally, in order words this increase in the interest rate will affect the economy of that country because people will reduced their way of spending, investment level will be low and later run the economy growth will be low. The tax rises for the future. The tax rises for the future look into how the public sector debt is being paid. Any increasing public sector debts indicated that the future taxpayer will be the one to bear the burden by paying the bill. No matter the situation of the public sector debt reduced or not, the future taxpayer will be the one to pay the interest on the debts. Further this will a problem because, has it was mentioned above, changing of demographics show that government finances is usually placed under pressure, though without borrowing from at that moment of time. Limits Fiscal Policy In a normal situation the government should be able expand the fiscal policy in a situation where the economy is facing problem or recession. When a government has urge public debt they tried to reduced the scope by lowering tax in order to enhance demand. Then government must increase taxes and cut their spending in order to meet up with the budget .this is advisable because of the existing problems in the market economy. 7.3: Suggested recommendations to eliminate a federal deficit   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In summary, I like to recommend these three-step formulas for prosperity: 1) Elimination of federal taxes. It will good to cancel government taxes because when the citizen gives money to the government is just like throwing coals to Newcastle. Government is the maker of money, they are the producer that has no limitation to their production. . When the citizen sends taxes to the government, they just used it to pay debt. When you send your tax money to the government, the government simply uses it to pay down debt. When paying down debt it destroys the economy money in a given society. In order words taxes damaged money in the society.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   More so, the federal tax system is a waste of resources, it will be good if the government can spend the billions of dollars spent on compliance on production of useful goods for citizen and this will ease the problem of the economy and the people.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first suggested tax that should be eliminated is; the Medicare taxes and Social Security taxes. These will be politically popular; also regressive taxes directly impact businesses on low and the middle income people. That politician that ends FICA will becomes a hero.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  This will give federal government the opportunity to create money to support retirement and health care sector. 2) Elimination of federal borrowing. Government being a producer of money, an established government will not need to borrow money. These are inefficient; they are harmful, the exercise which provides no economic benefit. The Federal government borrowing provides semantic impression that government is in debt, and people it find repugnant.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  If there no borrowing; there would not be debt. 3) Establishing a national, money-supply goal. It is good to organize a congress, a congress that will look into the checking account called money created, They will add money to this account when needed. They will write checks and make a kind of transfers from the Money Created account in payment for all goods and services.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  This will be the suggested system for federal money creation in our economy. The congress will be the one to determine on how much money to be added to the Money Created account, however giving Congress power over money creation. Thus, the Federal will continue to control the interest rates and inflation.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The congress will spend what is necessary on retirement, the military health care, crime prevention, education, the infrastructure, and other national needs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The country will be free the tyranny of semantics and the problem of federal debt. This society prosper has rapid growth in their economy. Question 8: What are the constraints normally countries face in achieving a sustainable economic growth. What are the merits and demerits of attempting to achieve a faster growth rate in this country. Solution to Question 8: 8.1: Constraints facing the achievement of a sustainable economic growth. As evident in existing literatures that sustainable literally means ability of a system to endure and last long. So, sustainable economic growth means an economic development that is able to last longer! According to late David Pearce who happen to be one of the best environmental economists in his generation, states that sustainable economic growth primarily indicates that each of the generation should be able to pass on much of its capital as inheritance to its coming generations, under this Pearce approach he defined capital as including physical capital like machineries and infrastructures, also intellectual capitals like knowledge and technology and lastly environmental capitals like environmental qualities and stocks of the natural resources. This sustainable growth is what the world is witnessing from the groups of emerging economies have been trying all within them to continue to excel, particularly China and India that have remained as major drivers of the recent global expansions. But, evidence has shown that while the recent global growth outlook seems more positive, I will like to use this opportunity to mention that there are major four constraints which could threaten the sustainable growth of any country, i.e.:  Ã‚  Ã‚   The prices of Oil   the unpredictable increase in the prices of oil by producing countries have always been tried to remedy by both the OECD and its other sister organizations such as International Energy Agency all working very add to help many countries in addressing their short and long-term growth challenges as a result of sudden increase in energy prices, problems or fluctuations in security of supply and other alternative sources.   If not properly curtailed globally, fluctuations in oil prices could significantly impede economic growth of countries. External imbalances in trades The imbalances in current accounts of trading partners across the globe has reached an unprecedented levels especially between countries like the US, Japan, China, and some other Asian coun