Banking Sector Fragility Causes

Banking Sector Fragility CausesDiscuss factors which seduce decisively contributed to the fragility of the contemporary avowing sectors, as revealed in the form of the recent global m maventary crisis.Prep ard byIvan Gnatiuk 37193Artem Zaiets 36981Mark Pohodin 37141IntroductionFirstly, crisis was originally started in US where it was a result of provided social policy. In busy, g all overnment allowed, even insisted, on distribution of house mortgages non only among wealthy part of society but also among poor one(so called NINJAs No Income, No Job, no Assets). Second part of this policy was an allowance on sell of sets or securitized bundles of mortgages among banking concerns. Market at that conviction was at the expansion at that time i.e. expectations were positive and market place accepted securitized sets of mortgage loans they spread not only among US but also around the whole world. In detail, banks became holders of risky assets in a adult quantity that give good re turn during the expansion but generate sources of risk during recession. Second burning(prenominal) factor was an asymmetry in information i.e. banks who sold this bundles known all about their debtors and buyer of securitized bundle has no idea about quality or ability to pay of debtors in this bundle. Thus, mortgage bundles were spread around the world with no information about ability of money return just before market fall i.e. with a change in liquidity to very low as a result of negative expectations and following mistrust of banks with respect to each separate. As a result, bundles lost their value because of that fact that opportunity of repayment thus value was very low thus peaceful debt obligations become a worthless and insentient be just deleted form asset list of bank they currently situated. Therefore, many not only Ameri open fire but also European banks, gift founds and even insurance companies suffered of recent financial crisis. Moreover, interdependence in euro area only strengthened an effect.Firstly, securitization is a methodology where mortgages and loans with a different maturity collected into large sets for further sell on the market. The problem of such a way operation provision is an asymmetry in information i.e. only trafficker know what percent of credits are trustful and have a large opportunity of repayment in the future. In contrast, now, Federal Reserve has a regulation that require keeping a fraction of loans i.e. not to sell all loans given on the financial market that intense banks to be much careful with their debtors.Main reason of fall was an unpredicted unification of two factors. These factors were fall of housing market not only in one particular city or area but it spreading among the whole country with further fall of financial markets. This effect was accelerated by interdependence of banking system. For example, obscure structure of interbank loans such as credit- inadvertence swaps where in case third party default seller agreed to compensate buyer.Fall of such a large bank as Lechman Brothers created not only panic among creditors but also mistrust among banks. It was one of the most hitting factors. Banks started to keep a large sum up of cash. In such situation banking system become ineffective and only damage economy collecting cash and decreasing overall liquidity i.e. banks become a cash collectors and only reduce money multiplier.When money demand is inelastic, increase in money supply does not have an effect on liquidity i.e. monetary policy become ineffective i.e. at some point holding of cash become to a greater extent profitable than any other investment. Thus, central bank loose quantitative instrument of market control. Banks start to buy safe government bounds with aim of protection of their capital and find out their credit distribution to reduce risk of not repayment of credits given.The irritability of banksIn particular, banks play a very important role in d etermining the crisis. Problems encountered banks were due to great mistrust by customers. That is, the customer confidence in banks decd and that had a great influence on bank returns and comport prices. Stocks are much than risky, which in term increase banks stock volatility.In finance, volatility refers to the standard deviation of continuously compounded by the return of a financial instrument for a certain period of time horizon. Thus, the return fluctuates over time and, therefore, an important determinant for the price of the shares. This is because the volatility shows the standard deviation of stock returns and depends on the risk of these stocks to hold. As a result, an increase in volatility leads to lower stock prices and vice versa.According to Choi et al. (1992)xi the saki rate variable is important for the valuation of common stocks of financial institutions because the returns and costs of financial institutions are directly dependent on amour rates. Moreover they mention a model which takes that trio different shocks affect banks profit during a given period namely interest rate, commuting rate and default shocks. Since these third factors have a great influence on the profits of banks, it has also a great influence on its volatility of stocks. The interest rate directly has a great influence on the volatility. Profits of banks are determined by the interest rate. As mentioned, the revenues banks obtain are the interest payments of customers. The costs are the payments do to the customers. So an increase in the interest rate the banks gain result increase the banks profits and thus make those banks stocks more attractive. Investors foot get more dividends on investment but also fundament earn money by buying low and selling high. So when a bank is doing well, stocks prices leave increase and that results in a saver investment. This causes a decrease in the volatility of those stocks. So an increase in the interest rate, at whic h banks lend, leads to a decline in the stock volatility and on the contrary. The interest rate at which banks borrow has another influence on its stocks. A maturement in that interest rate go away rise banks costs, and thus decrease the banks profits. That 13 make the stocks less attractive and causes a decline in its prices. So the growth of that interest rate causes an increase in banks stock volatility and vice versa. Grammatikos et al. (1986)xii investigated the portfolio returns and risk associated with the aggregate foreign currency position of U.S. banks. They found that banks have imperfectly weasel-worded their overall assert position in individual foreign currencies and exposed themselves to exchange rate risk. This fact suggests that exchange rate risk may importantly affect bank stock returns. Thus, it also affects the volatility. To make occupation internationally you al shipway need to convert your money. That is why it is especially for banks an important factor. Companies d business with other corporations internationally via banks. Banks hold the foreign currency which investors and companies have to buy in order to invest or do business internationally. Moreover the exchange rate defines also in which country it is attractive to do investments. For example, when the exchange rate is low for Europeans so that the euro/dollar is low, it is attractive for Europeans to make investments in America. It is proceeds for European banks because European investors are now buying dollars from the bank. Since investors have to pay fees for that and banks have more money to lend out, the profits are growing which authority that the volatility is decline. So an increase in the exchange rate decreases the volatility. nonpayment shocks are check to Choi et al. the last determinant of the banks profit and thus banks stock volatility. Default occurs when a debtor has not met his or her legal obligations according to the debt contract. This can be that h e has not made a scheduled payment, or has violate a loan condition of the debt contract. A default is the failure to pay back a loan. Default may appear if the debtor is either unwilled or unable to pay their debt. This can appear with all debt obligations including bonds, mortgages, loans, and promissory notes. So it is an important factor in the banking industry. When commodious amount of customers default, the banks have a high bad debt expense. This leads to an increase in the volatility. Furthermore if the risk of default rises, the interest rate rises as well because banks want to be compensated for this risk. As we have seen, an increase in the interest rate means a decline in volatility. So shocks in default mean shocks in volatility. This can be either up or down. When we take a closer look at the determinants of the volatility of banks stocks, we can see that it all depends on the state of the economy. When the economy is wellnessy, there are a hole of 14 actions in t he markets as well as in the banking market. Corporations are investing a lot and thus are borrowing from banks the housing market is doing well which means a lot of mortgage loan for banks. Overall there is a huge amount of business for banks which means that banks are doing well and thus stock prices are increasing, which indicates low volatility. On the contrary, during economic crises it is the other way around which we will see in the next part.Banks volatility in crisisDuring economic crises, we have seen that the economy in general is depreciating, during these age banks carry a lot of risk that customers are going to default. That is, the risk of having a lot of bad debt expanses rises. That risk causes fluctuation in the volatility of banks. During the last financial crisis, the housing market collapsed which caused a lot of default on mortgage loan. Because of the rise of default the interest rate is increasing and the currency is becoming cheaper. The three factors that affecting the volatility of banks according to Choi et al. were all affected during the last financial crisis, which caused increase in the volatility of banks. Moreover during banking panics, the volatility also increases. A banking panic means a bank run that appears when a huge number of customers withdraw their deposits because they think that the bank is, or might become, bankrupt. As amount of people who withdraw their deposits increases, the likelihood of default increases, and this leads to further withdrawals. This can destabilize the bank and finally lead to bankruptcy. So the bank carriesuncountable amounts of risk at that time. Because of that risk, investors are not willing to buy stocks of that bank and investors holding the stock already, want to sell their stocks. As a result the price of its stocks will decline and eventually be very low. Therefore the volatility will be very high. To sum it up, we have seen that the major determinants of the banks stock volatility are the interest rate, the exchange rate and the default shocks. More importantly, these three factors are all indicators of the state of the economy. When the economy is doing well, the factors influence the volatility negatively. However during financial crises and banking panics, the volatility will rise. So the volatility of banks stocks is affected by the health of the economy, which is indicated by the three factors mentioned.Globalization, as important crisis factorIn this part we would like to reference such sector of banking as regional instability. Since the beginning of twenty-first century, the fragility of singular unit of the banking system was determined as a factor that affects only this particular institute. With increased globalization and technological progress, we have face up the peeled problem, which is a result of our own actions.Everyone loves traveling, but no-one likes to have big amounts of cash, casually lying in their pockets. This is the reason why we use plastic cards. lowly do we think that they are a result of hard work and complicated connections between thousands of institutions. Such companies as Visa and MasterCard are offering us freedom of movement, in some way, and since the 90-th they grant us wide range of possibilities which we would never have in other way. We should state that both Visa and MasterCard, went overt just recently before financial crisis, in October and may of 2006. This simply means that they became big enough, that there were a need of external financing, so the companies can expand even faster and bring their services to broader audience.The process of globalization brings us to the point of time, when there will be no more ways of globalizing without bringing any harm to economy of the world or even humans. Willing to expand, systems will fight over for the customer. Thus is when we meet the term that was utilize just recently reverse globalizationIn the face of great economic risks, a lot of countries have started to implement the policy of protectionism. For example, in 2013, more than 2000 trade restrictions had been implemented by different governments, including United States and China. Another problem is that most companies which have their manufacturing powers abroad, mainly in china, report that their departments there are getting even more profitable. So we see the creation of the link between such countries. If one of them will be affected by the stroke, other one is going to feel the result as well. Banks are also taking part in such policy, or at least they used to. Since 1995 we can observe the steady trend to an increase in number of the foreign banks, from 780 to more then 1300, in 2007. The amount of new foreign banks, entering the market in OECD countries, peaked in 2007 at 132 in a year.The financial crisis dramatically reduced the number banks, up to the point when for the first time, since 1995, net expiry of banks appeared to be larger than net en trance. With the peak number being 1350, in 2009, it has been reduced to 1272 in 2013. Though this impact was intense, we can see even more radical change in the number of domestic banks. Here the number of facilities fell from 2704 to 2384, in 2007 and 2013 respectively, increasing market share of foreign banks up to 35%, from around 33% previously.The most interesting effect crisis had on banks of emerging and developing countries. Firstly, the amount of banks there didnt decrease, but rose by 30. also significant amount of banks that have been opened in European countries, had an actual headquarters in developing country. So, in regards to regional economy, European banks had the greatest reduction, as 29 foreign banks left the market. Nevertheless, we had an increase of such in Sub-Saharah Africa, where it peaked on the mark of additional 31 bank. The trend of developed countries being in lead, by an annual net entry, had been changed, when emerging and developing countries too k this spot, even though developed countries are still shoving positive rates in all years after, except 2013.Concluding this point, we can assume that increasing amount of banks is not useful for overall health of world economy. Also such actions on the behalf of new banks can create issues for regional economies, as they tend to accumulate resources from citizens and not being effective as allocating institute.Such point leads us to the point that banks, as institutes which are supposed to be an effective tool for cash flows allocation, can be harmful for itsy-bitsy regional economics. They create risks of collapsing and creating systematical problems, through connections between small banks and systems of such institutions. Finalizing all the information above, we would like to mention that banks, as fiscal institutions, are a source of great possibilities, but they may create bigger problems. Analyzing such data we see that market economy is self-efficient in some respect. It n aturally clears itself during each crisis peaks. The problem is that banks link different economies, some of which are erupt and some are not that healthy. That just means that some links must be destroyed and thus operations of such banks are not necessary. In future risks of crisis fluctuations will be higher, as there will be even more banks to create harder connections, and thus world economy will suffer from those small depressions even harder with each next starting its action.ConclusionTo sum it all up, from our research we have seen that crisis of 2007-2008 show us the fragilitys of banking system and the factors, which have decisively contributed to the fragility of banking sectors. We saw that some strengths of banking system in light of global financial crisis become fragilities. Banks volatility increased over the time period of a crisis especially during the last financial crisis. We can say that the volatility of banks increased during the financial crisis of 2008 and that the main driver is the GDP growth rate and that the less important drivers are the interest rate the exchange rate. In addition, we can say that increasing amount of banks is not useful for overall health of world economy. Also such actions on the behalf of new banks can create issues for regional economies.BibliographyLaunch of 2013 Depth Index of Globalization http//www.iese.edu/en/about-iese/ intelligence agency-media/news/2013/november/launch-of-2013-depth-index-of-globalization/Why globalization is going into reverse, by Carol Matlack http//www.bloomberg.com/bw/articles/2013-11-25/why-globalization-is-going-into-reverseRising Costs, Protectionism Hit U.S. Companies in China, Says Survey http//www.bloomberg.com/bw/articles/2013-10-10/rising-costs-protectionism-hit-u-dot-s-dot-companies-in-china-says-surveyThe Impact of the Global Financial Crisis on Banking Globalization by Stijn Claessens and Neeltje van Horen, October 2014 http//www.imf.org/external/pubs/ft/wp/2014/wp141 97.pdfhttp//www.nber.org/ papers/w4532http//www.ft.com/cms/s/0/842a1f88-d41c-11e4-99bd-00144feab7de.htmlaxzz3XyHF1cLChttp//www.bloomberg.com/news/articles/2015-01-15/good-volatility-eludes-banks-trading-revenue-hits-3year-lowhttp//www.voxeu.org/article/high-volatility-breeds-high-correlation-new-analysis-european-bank-stock-pricesBusiness Cycles, Financial Crises, and Stock Volatility, by G. William Schwert, 1989http//www.nber.org/papers/w2957.pdfhttp//geomar-search.kobv.de/authorSearch.dojsessionid=54AC3C46B1787F442C4032CE1265C4A1?query=Kopecky%2C+K.+J.plv=2Stock volatility and the crash of 87, byG.W. Schwert, 1990 https//ideas.repec.org/p/nbr/nberwo/2954.htmlThe Financial and economic crisis of2008-2009 and developing countries Edited by Sebastian Dullien Detlef J. Kotte Alejandro Mrquez Jan Priewehttp//unctad.org/en/Docs/gdsmdp20101_en.pdf

Causes of the French Revolution

Causes of the French gyrationRevolutions are non simply actions committed from impulses, rather, they are a set of protests to express disagreements with the current society. This was the case of the French Revolution. near the 18th century, British colonists in North America accused England for incommensurate treatments. Inspired by nirvana ideas, Americans overthrew the British spot and created a republic. Driven by the successful American Revolution and the bleak ideas of liberty and equivalence, the French were inspired to do the same with the ruling royalty and to establish a new governmental order. This was mainly because France continued the system of the Old Regime, a type of feudal system where the king held absolute power. Under the Old Regime, there was an unequal distribution of wealth and rights of citizens. In addition, the enormously high prices of life necessities were also critical because many people had barely enough to eat and live. Consequently, the obse rved of Enlightenment ideas and witness of American Revolutions success, disparity in wealth and rights of the citizen, in addition of queerion in the ruling royaltys power over government inspired the occurrence of the French Revolution.Among one of the factors that had played into the French Revolution was the philosophical enamour of human right and government structure. At the Age of Reason, many philosophers created new ideas about the government and questioned the basic rights of all humans. Such ideas influenced the French Revolution. There were three major enlightenment thinkers, and they were John Locke, Montesquieu and Jean-Jacques Rousseau. Locke was an side of meat philosopher who witnessed political turmoil in England during the 17th century. One of his most influential ideas on French Revolution was the equality of human and the three natural rights, which are life, liberty and property. In France, serfs and peasants didnt have the same rights as aristocracy because they didnt enjoy the same freedoms and property that the wealthy population enjoyed. Further much, they make up 80 percent of the population (Kreis). Thus, they were unsatisfied with their unequal rights. In addition, the middle class, or the middle class, could be as rich as the some nobles because the bourgeoisie were the people to get engaged in trades and a variety of businesses that helped them to gain a good amount of wealth and influence the French economy. However, the bourgeoisies were still considered as commoners because their statuses in society were not heritable as nobilities (Kreis). Consequently, the bourgeoisies wished the government to open more positions to base on the individuals merits. But it was impossible to do this low the Old Regime collect to the huge differences in social classes and privileges. Hence, the commoners, including both peasants and bourgeois, were inspired to revolt from the new philosophical ideas that were widely spread and veritable of the individual human rights.In addition, Montesquieu published The Spirit of the Laws in 1783 and claimed the best government was a kind of constitutional monarchy, which was a monarchy that shared its political powers with an new(prenominal)(prenominal) governing power. Consequently, Montesquieu suggested that France should model this kind of government in order to achieve the same success as England did. With this form of government Montesquieu suggested the sharing of sovereignty with the aristocracy. Hence, his view didnt represent the whole population of the country, including the bourgeoisie and peasants. (The French Revolution Ideas and Ideologies). The king also rejected the sharing of power, so it was considered as an im working solution. However, Montesquieu had made an essential influence on the French Revolution with this new idea of sovereignty, which was expressed in the Declaration of the Rights of Man and of the Citizen. The clause three stated that no individual co uld exercise the power of controlling over others. Another Enlightenment philosopher, Rousseau, however proposed the idea of self-ruling and direct democracy. The idea stated all citizens have the equality to participate in politics (MacAdam). According to an authority of philosophical studies, Jim MacAdam, concluded Rousseau impacted French Revolution by the idea of human equality. This was because the proposal of self-ruling depict the equality among all citizens to have the rights participating the affairs of the nation. The idea that the general population could participate in politics was also deeply appealing because compared to clergies and nobilities at the time, commoners had no social status, privileges, and rights to manage political affairs. Inspired by the idea of equality in politics from Montesquieu and Rousseau, the commoners were inspired to take actions to fight for their political freedom.corporate trust the ideas proposed by philosophers and American Revolution, the French was very inspired to create a regeneration in the overall societal structure. During the 17th century, America was a resolution to the Great Britain. Unfair treatment such as over-taxation and a monarchal government, spurred the American Revolution (Mackey), so that they could fight for freedom, liberty and reasonable taxation (Emerich, Dalberg, Acton). find the Americans, the French commoners also wished to have the equal freedom and liberty that they gained. Due to the similar reasons in France and America, it provided a suitable explanation to start a revolution. Moreover, capital of France was the origin the enlighten ideas, so it was easy for revolutionary ideas to spread around France and the French people. Hence, the new idea for equality promoted action to commence a revolution in France.In addition, the poor economical mark off provided a demonstrated factor to revolt. The poor economic condition in France included hive away debts and issues of the deregu latory food market of grain after a drouth in 1788. As a participant of the Seven Years War and American War of Independence, huge debts were accumulated in order to fund armies. The assistance to the American Revolution had built up the debt in France to 13 billion livres (Schiff). Hence, the French government was bankrupted. However, England, also a participant of both wars, was able to manage the financial problems brought by the wars (Karan). The financial problems in France were not as manageable as England callable to the lack of advisers and the ineffective tax collecting system (Smith). Since France was still controlled by an absolute monarchy, who believed in absolute control, most decisions, including economical decisions, were only made by the monarchy alone. Without others advisors to suggest practical solutions, the financial problems were hard to improve solely with decisions from the monarchy. In addition, the tax collecting system was also unsuitable, because the m onarch gave power to local officials to collect taxes (Smith), which caused some corrupt officials seize the tax money for themselves, rather than turning the money back to the state. Thus this made the financial problems even more difficult to resolve, because there was no taxation money into the state, so the debt was unable to be paid off.Apart from economical issues, the agriculture in France suffered a deadly blow. A devastating drought in 1788 caused peasants to have difficulty maintaining their health mainly due to lack of food caused from the lack of growth of grain. The failure of grain growth resulted the increased set on bread, because bread was made from the grain. Bread was a daily staple in France, so peasants couldnt live without bread (The French Revolution The causes of the revolution). However, due to the drought in 1788, the prices of bread inflated. The portion of income spent on bread thus increased eighty-eight percent, compared to fifty percent before the dro ught (Walinger). In addition to the increase in bread prices, the peasants also had to pay taxes, which created unsatisfactory living conditions for many peasants.There was also an unequal societal structure in France at this time, because the Old Regime divided French social structure unequally. The monarch held all power of the state and there was no parliament in France. Around 1770 to 1780, Louis XVI was in charge of the throne. However, he wasnt prepared to become king, because he was too shy and irresponsible (Louis XVI biography). Also because France was controlled under an absolute monarchy instead of a constitutional monarchy, most decisions were based on the monarch himself. However, the monarch wasnt fully considerate of the whole nation due to lack of consideration from Louis XVI. For instance, Louis XVIs construction of the palace of Versailles wasted over seven to ten percent of the national treasury (Smith), which had put more stress on the treasury from the debts cre ated the American Revolution and the Seven Years Wars.To resolve the debt problems in France became a critical issue, so Louis XVI turned toward the third farming that generated most of the countrys income. The Old Regime was divided into three Estates. The First was composed of clergy, the Second of the nobility and the Third of the commoners, which comprised of 25 gazillion people. Because this social structure was based on customs and traditions, it created inequalities in law (Keris). For instance, although the Third Estate formed 80 percent of the French population, including the bourgeoisie who owned 25 percent of the land, they only held one vote in the Estate General (a general meeting of the three Estates). (Unit 4 French Revolution Napoleon). Compared to the other two Estates, this was generally not fair. The First Estate owned ten to fifteen percent of land in France and constantly received tithe and did not pay taxes. The Second Estate owned thirty percent of the lan d and they usually get their wealth from rents from the peasants who lived on their land. However, the people of the poor Third Estate used their little income to live and pay taxes to the Church, monarchy and landowners (Keris). Compared to the First and Second Estates, the people of the Third Estate were extremely unsatisfied with unequal privileges, heavy taxes, and inequality on voting rights in the Estate General.The French Revolution was a remarkable event on French history, and it was created mainly from new ideas of Enlightenment philosophers, enormous economic problems, and inequality of rights, which were also observed from the success of the American Revolution. Moreover, the economic problem resulted over taxation and the raised of the daily staple created an unsatisfied living condition for the peasants. In addition, the failure of the ruling monarch, such as the fact that the monarch managed all decisions of the state without putting the population into consideration a nd unwillingness to adapt to new form of political structure.Works CitedCranston, Maurice. The French Revolution Ideas and Ideologies. History Today, HistoryToday Ltd., 5 May 1989. Web. 3 Dec. 2014.Choi, Insun. Economic problem that caused French Revolution. KIS World History. n.p., 26 Oct. 2009. Web. 6 Dec. 2014.Emerich, John. Dalberg, Edward. Acton, Lord. Lectures on the French Revolution The Influence of America. Google online book. Google, Mar. 30 2006. Web. 3 Dec. 2014.The French Revolution. Go Social Studies Go. n.p., n.d. Web. 20 May 2015.Karan, Priya. Economic Causes of The French Revolution Debt. Suite.com. n.p., n.d. Web. 3 Mar. 2015.Kerise, Steven. Lecture 11 The Origins of the French Revolution. Historyguide.org. The History Guide, 30 Oct. 2006. Web. 28 Sep. 2014.Louis XVI biography. Bastille-day. n.p., 1 July. 2012, Web. 28 Sep. 2014.MacAdam, Jim. Jean-Jacques Rousseau and the Revolution. Montreal Symposium. n.p., 28 May 1989. Web. 3 Dec. 2014.Marie Antoinette biography . Bastille-day. n.p., 1 July. 2012. Web. 28 Sep. 2014.Mackey, Richard. American Revolution Influences of the French Revolution. Google online book. Google, n.d. Web. 3 Dec. 2014.Prest, William. The French Revolution, Locke and Rousseau. HubPages. n.p., 31 Jan 2013. Web. 10 Mar. 2015.Smith, Nicole. Frances Pre-revolutionary Financial Crisis The Lead-up to the French Revolution. Article Pyramid. n.p., 7 Dec. 2011. Web 10 Mar. 2015.Waldinger, Maria. Drought and the French Revolution The Effects of Adverse Weather Conditions on Peasant Revolts in 1789. Academia.edu, n.p., 7 Oct. 2013. Web. 16 Nov. 2014.

Lighting Advancements Essay -- essays research papers fc

Have you wondered why streetlights are yellow, or why the year 2000 cars have brighter headlights and they are a diametrical color? Have you ever wondered how the indiglo light on your watch works, or why it glows green and not white? And did you know that same indiglo light hatful be utilized while frozen, dipped in water, bent in half, stepped on, or in hazardous environments. Lighting has changed over the last few age there are advantages and disadvantages of different kinds of lighting. Lighting has been around since time itself existed the first kind of lighting was ardour. Fire was used to warm the inhabitants, and to provide light some primitive cultures would use burning torches to provide light for their excursions and pathways. Fire was the only true form of light they had other than the moon. Fire had many disadvantages, one was that fire depended on fuel and needed proper conditions to operate (no rain, minimal wind). Another disadvantage is that fire, if not handl ed properly, could result in a brush fire or even burn down their shelter. An advantage was it was efficient when conditions were correct. It provided an inexpensive form of lighting, and could be used for cooking and heating. Due to the persistent problem of limited fuel, inhabitants looked for a way to prolong the fuel. (Thwig 29-34)The next step in lighting that followed was a examine. Candles offered one main advantage over the fire by itself, fuel. A candle was able to provide a long burning light and was relatively inexpensive to produce. Candles were originally made from whale fat. The flame would burn and would slowly use the wick as a fuel and would burn much slower because the wax slowed the burning down. (Thwig 35-49)The next form of lighting that followed the candle was the petroleum lamp. The oil for the lamps was also made from whales. The oil was the primary fuel for the fire, it burned even longer than a candle, and was cleaner. The wick was submerged in oil with on e stead sticking out. The oil would travel up the wick to the exposed portion. When lit the wick would be saturated with oil and the fire would burn the oil on the wick. This form of lighting was a large improvement, many cites adapted to this technology. Cities would create streetlights from the lamps and they would be lit on a n... ...is not fully utilized yet. In the coming years we will see displays of light we cannot even imagine, displays we cant even think about in our wildest dreams. But one thing is for authorized lighting has, and always will be a necessity of our culture.Works Cited&8220 The Design Guide. spic-and-span Hampshire. Loctite Luminescent Systems Inc.1990, Revision 0490.&8220Edison, Thomas Alva. Frank & Wagnall&8217s New Encyclopedia. 1989 ed.&8220Electro-Luminescents. Memtonik Innovations. Online. Pacific Bell, 7 January 2000. N. pag.Hayward, Arthur H. Colonial and Early American Lighting. Canada General Publishing Company, 1962.&8220Hubble Lighting Hubble . Online. Pacific Bell, 23 January 2000. N. pag. addressable http//www.hubble-ltg.com.&8220Lighting F.A.Q. Rudd Lighting. Online. Pacific Bell, 22 January 2000. N. pag. Available http//www.ruddlighting.com/.Neitzke, Ron. Personal Interview. 16 Feburary 2000.Sabin, Louis. Thomas Alva Edison. New Jersey Troll Associates, 1983.Thwig, Leroy. Flickering Flames. Tokyo Charles E. Truffle Company, 1962.&8220Why Electro-luminescent lamps. Industrial Tehcnology. Online. Pacbell, 7 January 2000.

Double Standard Of Masculinity In Gender Role Socialization Essay

Masculinity is a topic that has been debated in our society extensively, through research as well as in informal settings. Many wonder what it means to be masculine, and if we can really assign a definition to such a subjective term. After all, shouldnt ones profess perception be the determinant of what constitutes masculinity? This self-construction would be the ideal in our society, but unfortunately, it represents a false belief. Masculinity has certain characteristics assigned to it by our culture. In this paper I will explore the many an(prenominal) facets of masculinity and demonstrate how certain beliefs pertaining to it ar perpetuated in our society. I will also uncover many of the contradictions between societys assigned definition of masculinity and the expectation that males will somehow learn how to act contrary to that assigned and learned meaning.Definition of Masculinity Men are primarily and secondarily socialized into believing certain characteristics are definit ive in determining their manliness and masculinity. These characteristics range from not crying when they get detriment to being and playing violently. The socialization of masculinity in our society begins as proto(prenominal) as the first stages of infancy. A childs burgeoning sense of self or self-concept is a result of the multitude of ideas, attitudes, behaviors, and beliefs to which he is exposed (Witt 1997). Later in this paper the question of whether there are genetic factors will be discussed. However, to further my melodic line at this point, I will discuss masculinity as it is socially defined. From the outset of a boys life he is socialized into the belief that he should be tough. Often when boys get hurt, scrape their knee, or come whimpering to their mother or father, the fated words, "Little boys dont cry", issue forth. Children internalize parental messages regarding gender at an early age, with awareness of adult sex role differences being found in two-ye ar-old children. One study found that children at two and a half eld of age use gender stereotypes in negotiating their world and are likely to generalize gender stereotypes to a variety of activities, objects, and occupations (Witt 1997). This legitimization teaches males that boys and men are not allowed to cry. thither also exists the belief that boys are often required to do mens work outside of the home such as mowing th... ...iographyBetcher, William R. et al. (1993) In a time of fallen Heroes. refreshing York, NY, Macmillan Publishing Company. Bowker, Lee H. (1998) Masculinities and Violence. Thousand Oaks, CA, Sage Publications, Inc.Buss, David. (1994) The Evolution of Desire. tonic York, NY, St. Martins Press, Inc. Gwartney, Debra. (October 17, 1998) "Double bind of boys concerns psychologists." Oregon Times.Katz, Jackson. (1995) "Advertising and the Construction of Violent White Masculinity" In Dines, Gail and Humez, Jean. (Eds.) Gender, Race and Class in Media. Thousand Oaks, CA, Sage Publications. Pollack, William. (1995) "Deconstructing Dis-identification Rethinking psychoanalytic Concepts of male development." Psychoanalysis and Psychotherapy. 12(1)30-45.Stearns, Peter N. (1990) Be A Man Males in Modern Society. unexampled York, NY, Holmes & Meier Publishers, Inc.Thompson, Neil. (1995) "Men and Anti-Sexism" British Journal of Social Work. 25(4)459-475.Witt, Susan D. (1997) "Parental influence on childrens socialization to gender roles." Adolescence. 32(126)253-257.Wrangham R. et al. (1997) Relationship Violence in Demonic Males. New York, NY, Routledge.

The Rights and Responsibilities of an Employee :: Rights Discrimination Age Essays

The Rights and Responsibilities of an Employee My co-worker Amina worked with a marketing firm for many years. When she applied to undertake internal training in new information services, her practical drill was denied because management thought she was too old to learn new information technology like Internet and World Wide Web Marketing. Amina was directly discriminated against found on her age. After suing the company, she was compensated with cash and upper management wrote her a formal letter of apology saying, We regret the incident happened but we will become sure such thing will not happen again.After she shared her story with me, I was eager to research about age contrast because even though most of the time age contrast occurs to older employees in a work place but young employees such us myself are also considered most of the time as inexperience and incompetent. So that whether you are old or young knowing your rights and responsibilities as an employee is very val uable in todays work force. Age discrimination can also happen in a more substantiating way. Sometimes a condition, rule or policy, which seems to be fair and neutral, can actually have a greater negative impact on quite a little of a fussy age. For example, a job advertisement specifying that applicants must have 15 years experience would disadvantage young bulk. Unless this was a reasonable requirement of the job, it would be verificatory discrimination and against the law. Every body wants a fair go in life but discrimination means that both(prenominal) people are denied opportunities or are treated badly. This is unfair, unnecessary and against the law. Anti-discrimination legislation takes it easier to every body to get a fair go in life by telling us about our rights and responsibilities as well as establishing process for making a complaint about discrimination and resolving complaints. The queensland Anti-Discrimination Act 1991 says that it is against the law to disc riminate people because of their age (whether they are young or old). It is also against the law to discriminate against a person on the basis of association with or relation to well-nigh one of a exceptional age. The Act also makes other forms of discrimination and sexual harassment against the law. (EEOC 1991)Age discrimination occurs when someone is treated unfairly or badly compared to others because of how old they are. This happens because people have unfair, old-fashioned, stereotypical or prejudiced ideas or beliefs about older people or young people in particular.The Rights and Responsibilities of an Employee Rights Discrimination Age EssaysThe Rights and Responsibilities of an Employee My co-worker Amina worked with a marketing firm for many years. When she applied to undertake internal training in new information services, her application was denied because management thought she was too old to learn new information technology like Internet and World Wide Web Marketi ng. Amina was directly discriminated against ground on her age. After suing the company, she was compensated with cash and upper management wrote her a formal letter of apology saying, We regret the incident happened but we will make sure such thing will not happen again.After she shared her story with me, I was eager to research about age discrimination because even though most of the time age discrimination occurs to older employees in a work place but young employees such us myself are also considered most of the time as inexperience and incompetent. So that whether you are old or young knowing your rights and responsibilities as an employee is very cardinal in todays work force. Age discrimination can also happen in a more indirect way. Sometimes a condition, rule or policy, which seems to be fair and neutral, can actually have a greater negative impact on people of a particular age. For example, a job advertisement specifying that applicants must have 15 years experience woul d disadvantage young people. Unless this was a reasonable requirement of the job, it would be indirect discrimination and against the law. Every body wants a fair go in life but discrimination means that some people are denied opportunities or are treated badly. This is unfair, unnecessary and against the law. Anti-discrimination legislation makes it easier to every body to get a fair go in life by telling us about our rights and responsibilities as well as establishing process for making a complaint about discrimination and resolving complaints. The queensland Anti-Discrimination Act 1991 says that it is against the law to discriminate people because of their age (whether they are young or old). It is also against the law to discriminate against a person on the basis of association with or relation to some one of a particular age. The Act also makes other forms of discrimination and sexual harassment against the law. (EEOC 1991)Age discrimination occurs when someone is treated unfa irly or badly compared to others because of how old they are. This happens because people have unfair, old-fashioned, stereotypical or prejudiced ideas or beliefs about older people or young people in particular.

An Evolutionary Ethical Theory of Social Risks and Opportunities Essay

An Evolutionary Ethical Theory of Social Risks and Opportunities ABSTRACT Social standards guide us in what to do and what to refrain from doing. But can social moral or legal standards be trusted? This paper presents an evolutionary good theory that generates trustworthy ethical norms. Each norm is assigned a demonstrable risk, called an ethical risk, that depends on both human behavior and danger to the survival of society. The assigned risk is stripped-down if and only if everybody obeys the norm. The higher the risk assigned to a norm, the higher the norms rank (an empirical quantity depending on the evolutionary status of society). An order finite set of ethical risks and ethical norms allows the settlement of ethical problems arising in society. Subsets of existing moral and legal standards all over the world are matched with norms being elements of these ordered finite sets of ethical norms. Like all standards, ethical norms are often violated. A single violated norm suf fices to activate correlations amid risks, resulting in an ethical conflict. The more often a high-ranking norm is violated, the poorer the society in question. Ethical conflicts can be resolved by answerable persons or groups advancing higher-ranking norms involved in optimization at the expense of lower-ranking norms. Examples are given to support the theory. Moral predigen ist leicht, Moral begrnden schwer (Arthur Schopenhauer)I. The Primacy of an experimental Ethic of Risks In the West, ever fewer people respect moral standards because the influence of religion is decreasing rapidly. In addition philosophical ethics, inventing right and pervert Mackie, is unable to contribute essentially to the trustability of moral norms,... ...men, Saetze Stuttgart 1980Patzig, G. Ethik ohne Metaphysik Goettingen 1983Platon Saemtliche Werke, telephone I Heidelberg 1982Popper, K. Die offene Gesellschaft und ihre Feinde Tuebingen 1992Rawls, J. Eine Theorie der Gerechtigkeit Frankfurt 1979Ra wls, J. Die Idee des politischen Liberalismus, Frankfurt 1992Schmidt, H. Zeit von den Pflichten zu sprechen, S. 17, Die Zeit Nr. 41, 1997Schrader, W.H. Norm II, Ethik J. Ritter, K. Gruender (Hg.) Historisches Woerterbuch der Philosophie, Band 6, S. 910 Basel 1984 Sueddeutsche Zeitung Nr. 43 vom 22. Februar 1994Vorlaender, K. Immanuel KantDer Mann und das Werk S. 170 Hamburg 1992Weber, M. Politik als Beruf M. Weber, Gesammelte Politische Schriften, J. Winkelmann (Hg.) Tuebingen 1971 Wickert, U. Der Ehrliche ist der Dummeber den Verlust der Werte Muenchen 1996

England: The City of Today :: European Europe History

England The City of TodayGlorious, glorious England. As the Empire spreads some say so does its notoriety others mumble of the price which we pay for our greatness. Many of us Londoners shake read, if not discussed, the intriguing debate transpiring between Sir Andrew Ure and Sir James Phillips Kay. Are the cities of great England in truth representative of the jewels in Her Majestys Crown? Or are they the stain of exploitation and abuse that some have proclaimed?Sir James Phillips Kay, an M.D. at Edinburgh and the Secretary to the Manchester venire of Health, has recently published a lop titled, The Moral And Physical Conditions of the Working-Class Employed in Cotton Manufacturing in Manchester. (Kay/Ure Debate, Handout) He argues quite persuasively nigh those poor wretches living in the most hideous of conditions. Half the blame he attributes to the Irish and the other half to the environment of an industrialised city. The Irish immigrants have brought to Manchester a system called cottier farming. Sir James argues that this system is responsible for the demoralisation and barbarism of the working-class. If that is not bad enough, the potato has been introduced as a important article of food. Influenced by the Irish subsistence living, the working-class are abandoning those values which promote increasing comfort. They seemingly have given up the hope of betterment and pick out hopelessness.Sir James does well in his description of the living conditions of the working class is living in. The mere thought of such suffering and misery is shocking to the soul. The business Kay argues, is caused by combinations of poor living and working conditions, lack of education, influence by a lesser culture and the presence of great immorality. This recently published work is a plea to the Capitalist, to convince him to concern himself with his workers.Andrew Mearns, another prominent fellow on these matters goes into even greater detail in his work, The Bitter C ry of castaway London. Making a study of our city, he has reported, with astonishing detail, that the filth present in Manchester can be found in this cityMr. Mearns makes his telephone circuit to the church in his call to unite and fight this growing misery together. He cites examples of immorality, poverty and heart-breaking misery. His call also addresses the need for the state to intervene on the behalf of the organisations trying to elevate the working-classes misery.What can be done for the motherless children, diseased and ailing siblings and the poor forced into thievery for filthy lucre?