Reform movements in the United States sought to expand democratic ideals free essay sample

The validity of the statement, â€Å"Reform movements in the United States sought to expand democratic ideals† can be assessed regarding many reformations in the time period of 1825-1850 including the American temperance movement, the women’s rights movement, and the abolitionist reform. All of which very much expanded core democratic ideology, such as equality, liberty for all, and the pursuit of happiness. All these reforms share the qualities necessary to attempt to make the United States a more civilized, utopian society. Social reform was a necessity when it came to expanding democratic ideals. First reform in this time period was the American temperance movement. This was crucial because it was the first organized group to deal with alcohols impact on society and actually focused on the personal health and safety of American citizens. This was not the grandest of America’s issues though; in the early 1800s women had no rights outside of their household. We will write a custom essay sample on Reform movements in the United States sought to expand democratic ideals or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Women could not vote, they could not own property, all they were good for was tending to house work as the men worked. This is often looked at with the transcendentalist movement of the 1830s, as they both revamp early family life and loosen the strict standards for women. In the 1800s slavery was a huge debate that divided our nation into pro-slavery and abolitionists. Many problems arose from this. The American temperance society not only benefited from, but also contributed to the reform sentiment promoting abolition of slavery, expanding women’s rights, temperance, and the improvement of society. The argument against alcoholism was that it was most closely associated with many negative factors such as domestic violence, family neglect, and chronic unemployment. Document H is a political drawing from the library of congress meant to emphasize the negative effect that will weigh down the nations laborers. The line at the bottom â€Å"The drunkards progress/ from the first glass to the grave† is obviously a reflection of negative feelings toward alcohol. This movement was based on the desire to create a productive and civilized society that could contribute more efficiently to the image of what a democratic family should be like. In 1851, a law was passed which banned alcohol. In a sense, Elizabeth Cady Stanton was a â€Å"ringleader† of the reformation of women’s rights. Most famously knows for speaking out about women’s rights at the Seneca Falls Declaration on August 2, 1848 (Document I). Stanton’s idea was that, if the constitution states that equality is a democratic ideal then the nation is subjected to abide by that. Document I portrays that it is a puzzling, but true fact that women at the time still had not yet received nation-wide suffrage (the right to vote. ) men had the right to imprison their wife, but a woman was not allowed in a voting booth. The women’s rights movement definitely supports the statement that reforms from 1825-1850 sought to expand democratic ideals. The abolitionist movement was one that took many years and excessive efforts to get slavery out of the union, without tearing it apart. Abolitionists dealt with strong opponents for many years of their early moral campaign, mostly coming from the south. Among these famous reformers was Frederick Douglass, a well-educated freed slave, and William Lloyd Garrison, a very radical abolitionist who converted many people to abolitionism. Document C displays a slave pleading â€Å"am I not a woman and sister? † which was a strong example of the battle for equality the black and white races. Abolitionists knew and argued that we could not preach liberty and justice, when half of our nation is committing to the opposite. The reformation adds much validity to the notion that reformers sought to expand such democratic ideals in this time period. There are the minority that argues that not all reform movements in the United States necessarily sought to expand democratic ideals, and they supported it with the naturalization act they argued that the naturalization act did not seek to expand democratic ideals in any way. Led by Samuel Morse of the Know-Nothing Party, the reformation made it so that any foreigner who came into the United States after changes to the law would not be allowed the right of suffrage, as shown in document D this contracted some core democratic ideals instead of expanding it. The idea most largely contradicted was liberty, being that liberty was not fully instated without full political freedom. The statement â€Å"Reform movements in the United States sought to expand democratic ideals† is proven valid in context to every reform in the time period 1825-1850 except the naturalization act, The only movement in that period contradicting democratic ideals. Besides this act, every other act displayed grand interest in civilizing the United States and emphasizing equality and liberty for all, the core democratic ideals. The nation eventually picked up and expanded all of these, but only after the effect of these reforms took their toll on each individual state.

Reformers essays

Reformers essays Reform is the development or improvement of the society which is possible to be brought about by those who are really dedicated to the work and who really love the society and who are moved by the bad conditions of the people. The person who wants to bring reform will not think about what the society thinks about him, but he will only care about the improvement and good. He will definitely face the problems and difficulties coming in his way. No one would want to be view with disrespect by others. Infact they gain respect by serving the poor and disabled. Reputation and social standing is only a consequence of their activities but not the intentions of the reformers. If so they are really not called as reformer. A reformer is person who brings about the actual development. If a person wants to become famous he can choose many other ways like films, Television, politics,...not alone social service which is far more difficult than any of these and involves no other purpose like earning money unlike others. I would like to give a very good example of a social reformer who is well know to the whole world because of her sacrifice to reform a place which is not even her native. I am talking about the Great Mother Theresa who was born in Ugoslavia and came to India and saw a very poor and dirty place in Calcutta and the people suffering over there and she was greatly moved by the site and thought in her mind the she has to do something good for these poor, disabled, unclean, uneducated people. She told them how to be neat, started a small school in that same place and made them to write on the wet land. She even served the diseased people who were suffering with cholera and plague where others felt scared of coming near those diseased. Slowly she gained some followers who would join her in those activities and grown in to a big organization. She did never stop serving the people even after she gained a lot of popularity. Mother Theresa ...

Innovations and inventions of the 20th century Essay

Innovations and inventions of the 20th century - Essay Example Not only do they try to educate the people on the pros and cons of technology, they also provide solutions on how to minimize its effects on the environment as well as to the lives of the people. Additionally, the invention of the cell phone is equally influential to artists as they discuss the effects that cellphones have on the lives of the people. Some of the artists try imagining of the days when there were no computers or mobile phones, then compare life then and today (Janssen and Anne 12). The computer is one of the most influential technological innovations of the 21st century that has revolutionized the art world and influenced artists in the era. The computer, designed to make work easier for people, has turned them into slaves (Janssen and Anne23). This is the main reason why artists use it as a topic of discussion in their work. The internet is yet another innovation of this century that has influenced artists’ work and activities (Pilcher 470). They look at the advantages and disadvantages of the internet, especially the privacy and authenticity of information available on the internet. While researching, I realized that the audience plays a big role in creating art. The audience inspires artists in their work, especially in the kind of information presented in the artwork. Additionally, I realized that most of the artists today draw their inspiration from the artists of the impressionism. I awed at the impact of these artists have on art today, despite being regarded as failures in the French exhibition gallery. Janssen, Lisa and Anne Nigten. The Revised Artist: A Study into the Influence of the Computer on Art Making and Perception. Creative Development. 2007. Dissertation.

Discussing (Tata Steel) and its current approach to managing Essay

Discussing (Tata Steel) and its current approach to managing environmental drivers in their market. You should identify and an - Essay Example In this context, the discussion of this report critically examines the major influencing factors along with the responses made by TATA Steel while performing its steel manufacturing processes in the global countries. Additionally, the discussion would also incorporate the major drivers within the present steel making industry, their potential impact on TATA Steel and provide relevant theoretical implications in order to effectively address the key driving factors in the respective business industry. Table of Contents Executive Summary 2 1. Introduction 4 2. Brief Description of the Company and its Exposure to Global Business 4 3. Introduction of the Chosen Framework and Evaluation of TATA’s Response 5 4. Analysing Major Influencing Drivers in the Steel Making Industry and TATA’s Response 6 4.1 Regulatory Process 6 4.2 Cost Reduction Strategy 8 4.3 Buyers’ Power 9 4.4 Suppliers’ Power 9 4.5 Competitive Rivalry 10 6. Conclusion and Recommendations 12 Referen ces 13 1. Appendix 18 1.1 PEST Analysis 18 1.1.1 Political Factor 18 3.1.2 Economic Factor 18 3.1.3 Social Factor 19 3.1.4 Technological Factor 19 1. Introduction The present business environment of global organisations is often identified to be influenced by various factors. In this regard, the influence of external environment is one of the major determinants for the modern business organisations, assisting them to successfully accomplish their desired business goals (Teodorescu & Costachie, 2011). Organisations are often recognised to highly comply with the influence of primary external environmental factors in performing various operational and corporate functions. In this regard, the political, economic, social along with environmental and legal aspects can be duly considered as the primary external influencing factors for any organisation, aiding it to build long-run sustainability in the competitive business market (Oxford University Press, n.d.). Keeping with the major influ ence of the external environmental factors in business, the primary objective of this report is to analyse the business operations of TATA Steel in the fiercely growing steel manufacturing and marketing business industry. In this regard, the report will identify the chief drivers of the steel industry and discuss how these drivers affect Tata Steel. Moreover, the report will also lay utmost focus upon evaluating Tata’s responses to the identified drivers along with providing appropriate actions to ensure sustainable success of the company. 2. Brief Description of the Company and its Exposure to Global Business Established during the mid of the year 1907, TATA Steel (TATA) is regarded as one of the leading steel manufacturing companies in the Indian and global business industry. It is one of the major subsidiaries of the TATA Group with a large number of market shares in producing and marketing of steel across overseas locations (Mahajan & Ives, 2003). The company attained gre ater success in the respective business industry due to its adoption along with execution of continuous diversification strategy in its various business fields. Currently, the organisation is involved in performing diverse operational functions that include motor vehicle manufacturing, steel production, chemical, financial service along with healthcare division and telecommunication

Economic events occur around us every day Assignment

Economic events occur around us every day - Assignment Example it can be ascertained that slow GDP growth rate of a country and sluggish investment decisions have accorded significant attention of many economists. Despite the availability of adequate monetary resources, many industries are unwilling to make significant investments due to the fear of recovery constantly imposed by prevailing economic uncertainties. The paper would be mainly divided into two parts, the first part would include headings consisting of â€Å"economic problems faced† which would mainly describe what are the problems, causes of the problem and what are their impacts on the society, politics and how could these issues be resolved. The second part would mainly be focused on â€Å"government policies† along with evaluating the current demand and supply side and the ways in which they can be brought into effectiveness. Correspondingly, this paper in the light of the selected article â€Å"Uncertainty Is the Enemy of Recovery† intends to identify the various economic problems encountered by the different countries particularly the US economy and further determines to ascertain the consequences of economic downturn and responses from government to resolve these problems effectively. According to the article, â€Å"Uncertainty Is the Enemy of Recovery† by Mcnabb, it is apparent that the problems of economic uncertainties have given rise to recovery related economic challenges to most of the countries encountered with economic downturn. The fluctuating GDP and the uncertainties in the various policies initiated by the government have largely affected the general public and big business organizations as well. Accordingly, many organizations in spite of ample financial resources are largely hesitating in increasing their level of services or creating new job opportunities. The spending on goods by the general public has also reduced significantly owing to the decrease in their disposable income (Leone, 2010). Lately, the ambiguity in the monetary strategy

The North American Free Trade Agreement And Canada Politics Essay

The North American Free Trade Agreement And Canada Politics Essay The North American Free Trade Agreement (NAFTA) was ceremonially signed by the leaders of Canada, the United States, and Mexico on December 17st, 1992. After deliberations in each countrys democratic hall of power, it officially came into effect on January 1st, 1994. NAFTA is first and foremost an economic agreement between its three member countries. Its primary goal is to remove trade barriers and subsidies for national industries in order to create a truly free North American market which would better foster competition, thus increasing wealth and productivity. With those changes in effect, its effect was expected to be an increase income and a higher standard of living for the citizens of each country. At the same time, NAFTA would theoretically allow the member nations to leverage the advantages of a large free trade bloc in order to become more powerful internationally. Essentially, NAFTA was created with the vision of making Canada, the United States, and Mexico, more competitive internationally and within their borders, for the benefit of their governments and citizens. Looking specifically at the United States and Canada, there was previously an economic precursor to NAFTA a bilateral agreement simply called the Free Trade Agreement (FTA). This agreement came into force approximately 5 years before NAFTA, on October 4th, 1988. It shared the same principle vision as the future NAFTA agreement; to reduce trade barriers such as government barriers to competition, and liberalize the climate for investment thus allowing the easier facilitation of trade between the two countries. Reading economic reports and the opinions of pundits, youll find a lot of different opinions regarding NAFTA. One thing is known there is still a large amount of uncertainty and a lack of consensus as to whether NAFTA has been, in sum, a positive thing for Canada. Famous economists such as Nobel Winner Paul Krugman have stated that NAFTA has had a near zero effect on the Canadian economy, whereas economic reports such as one by Martin A. Anderson come out in contrary to Krugmans belief, supporting its enactment. Further in this summary, we will explore the central issues of NAFTA and its effect on Canada and its people. NAFTA and Economic Growth As previously mentioned, NAFTA remains a divisive issue. In truth, it is extremely difficult to isolate NAFTA as a variable in economic growth and other key metrics of society due to the interwoven nature of our economy. With the plethora of variables considered, it is challenging to prove NAFTA as a cause for improving economic conditions. However, it does seem that the a large amount of papers come out in support of NAFTA as an engine of economic growth, citing its positive effect on the Canadian economy by highlighting the general trend in lower unemployment rates and higher income from trade. Cited is an entry into the Journal of Economic Development with an article concerning which NAFTA member country has benefitted most from the treaty. It states that its effect on US Gross Domestic Product (GDP) has been minimal, whereas Canadas GDP has experienced a statistically significant increase due to the agreement. The paper goes on to theorize that this may be due to Canadas reliance on trade for its economy especially trade between NAFTA members. It goes on to say that the lack of effect on the US GDP may be due to the fact that its economy is much larger than our own, and that changes are not as clearly visible due to its scale. To put the scale of Canadian trade with the United States in perspective, in 1999, 82% of Canadian trade was trade between NAFTA nations. More recently, in 2009, 73% of Canadian exports went to the United States. The effect on such large parts of our economy being export dependent will be discussed later in this summary. Some more key metrics of changes in the Canadian economy, comparing 1995 to 2005: The unemployment rate decreased from 8.3% (1995) to 6.8%(2005). Canadian GDP was $721.26 billion in 1995 and $1024.92 billion in 2005 (values adjusted for inflation), a 42% increase. Interprovincial trade has increased 15.29% due to NAFTA since 1994. Notably, interprovincial trade increased in Alberta by 30.1%, Prince Edward Island and Newfoundland by ~24%. Interestingly, British Columbias interprovincial trade share decreased by 30.39%. Trade with the United States increased by 20.41% in Saskatchewan, and 17.77% in Manitoba. Most notably, Prince Edward Island increased trade with the United States by 67.07%. In contrast, British Columbias share of trade to the United States increased by only about 1%. Some of these values may have changed due to the changing economic climate of the past 5 years. For example, the unemployment rate has since increased to a current value of 7.9%. However, when interpreting these results, a trend becomes visible the Maritimes seem to have enjoyed a much larger share of trade than prior to NAFTA. The secondary sector of the Canadian economy concerns itself with manufacturing and general industry. Following the enactment of the FTA and NAFTA, the Canadian manufacturing industry had started to experience drastic changes. Because they were no longer as insulated to international competition, labour intensive industries such as Quebecs textile industry started to decline as cheap goods from other countries began to enter the market. Though many labour intensive jobs have shifted away to cheaper outsourced locations, there are large sections of Canadian industry that are more resilient to such shifts. One of these is the high-tech sector, which employs a large amount of skilled labour and creates advanced goods such as aircraft, new types of metal alloys, and intellectual property such as software. Industries such as biotechnology are much harder to outsource given their advanced nature, allowing Canadas relatively educated populace to contribute to the growth of these sectors res ulting in a net gain of employment. Most of these high-tech firms are located in Canadas industrial core Southern Ontario and Quebec. Ontarios location is greatly conducive to creating a good environment for trade. Northern Ontario produces many primary resources, such as forest products and minerals. Exports from Ontario to the United States were about the same value as its exports within Canada. By 1998, Ontarios exports to the United States increased to 2.5x the value of trade to the rest of Canada. The automobile industry is often cited as Ontarios most important export industry as it accounts for a large share of its trade, creating an environment of dependence upon that industry. Quebec is also heavily trade dependent, with exports of 25% of Canadas information technologies, 55% of aerospace production, 30% of pharmaceuticals, 40% of biotechnology, and 45% of high tech exports. Prior to 1989, about half of Quebecs trade went to other parts of Canada, and the other half was exported. By 2002, approximately 65% of Quebecs trade leaves Canada. NAFTAs Controversies Though NAFTA has clearly influenced our economy, most visibly with an increase in our exports and GDP, many believe that his trend presents a double-edged sword. The basic question put forward is to what length do we want our exports to increase?. A more globalized, or north-Americanized, economy also increases the risk of encountering economic repercussions due to recessions or the booms and busts of other countries. The most notable example of this would be the current economic recession, which many argue is only affecting Canada because of lower demand stemming from the economic uncertainty in the United States. With increasing globalization, it is becoming apparent that the intertwining of economies will continue and that our ability to insulate ourselves from global economic conditions will continue to decrease. It can be argued that NAFTA intertwines more than our economies. A controversial statute of the agreement Chapter 11 grants corporations the right to sue the signatory countries for compensation if their investments are adversely affected through regulatory means, especially if those regulations favour local businesses or constituents. One notable case of Chapter 11 use: Ethyl Corporation (USA) v. Government of Canada. Sued over Canadas federal ban over the gas additive MMT, which some studies have linked with neurotoxic effects. Canada was forced to overturn the ban and pay Ethyl Corporation in excess of $19million in compensation. Sun Belt Water, Inc (USA) v. Government of Canada. Sun Belt Water filed a claim for $105 million arguing that Canadian legislation thwarted its plans to export bulk quantities of fresh water from Canada. This claim has yet to be settled. Another important issue of concern is the so-called softwood lumber dispute between the United States and Canada. The dispute has carried significant implications for British Columbia, as the province accounts for over half of the total logging output of Canada. In 1982 the US lumber industry logged its first complaint. Tariffs have been fluctuating since 1986, and in 2001 duties on softwood lumber imported into the United States have reached as high as 27%. Both a NAFTA panel and the World Trade Organization have issued non-binding resolutions siding with Canada against the United States. Unfortunately, the tariffs remain despite these rulings and it appears that NAFTAs ruling against the United States has not influenced its policy. As recently as 2006 a new agreement has been reached in which import duties of $4billion that were charged will be returned (a total of $5billion in duties has been collected), however, Canada will be forced to increase export taxes on its own lumber if its price falls below US $355 per thousand board feet, in order to protect US companies. NAFTA has presented several environmental concerns to Canadians. As having one of the worlds largest capacities of freshwater, Canada has been under pressure to commoditize the resource in order to allow for its trade. The case mentioned above (Sun Belt Water, Inc v. Canada) goes to show this pressure. For the time being, legislation and political will has generally opposed the bulk sale of Canadian freshwater. Final Notes In the end, it can be said with some confidence that the North American Free Trade agreement has significantly altered the Canadian trade landscape. Though trade between NAFTA nations appears to have become more pervasive, questions remain about whether the continuing integration of other national economies is truly a good thing for Canada. Some believe that our very democracy is at stake now that foreign corporations have the power to overturn Canadian policy; which at a basic level is overturning the decisions of our elected politicians the only representatives of the Canadian people.

History of Computers :: Computing Services Technology Essays

History of Computers For many people living in the 21st century, the computer has become a very important tool for everyone. The computer has the ability to give information, it can help to correct mistakes that people make, and it is able to keep track of many things. It is also able to do many different calculations, this was one of the reasons that sparked the idea of the computer so many years ago. The first computer dates back to about 2000 years ago. With the abacus, a wooden rack holing two horizontal wires with beads strung on them (Meyers 1). This idea came about because man wanted to be able to automate the counting system. Even though this was not an automatic machine, it allowed the user to remember calculations and it also help to perform complex problems (Hoyle). After the creation of the abacus there was not really much advancement on the computer. Until Blaise Pascal working on the first digital computer in 1642 (Meyers 1). Pascal’s dad was a tax collector and he designed the computer so that it would be easier for his father for perform mathematical computations. The machine was called the Pascaline computer. The computer was able to add and after making few adjustments it was able to multiply (Hoyle). In the 1600’s this was remarkable technology at the time but there were disadvantages. If there was a problem with the computer only Pascal would be able to fix it and it would cost a lot. In 1812 a mathematics professor by the name of Charles Babbage became aware 1 that many mathematical calculation were predictable and so therefore it was possible that it could be done automatically.

Arbitrage in the Government Market Essay

In 1991, major discrepancies in the prices of multiple long maturity US Treasury bonds seemed to appear in the market. An employee of the firm Mercer and Associates, Samantha Thompson, thought of a way to exploit this opportunity in order to take advantage of a positive pricing difference by substituting superior bonds for existing holdings. Thompson created two synthetic bonds that imitated the cash flows of the 8 ¼ May 00-05 bond; one for if the bond had been called at the year 2000, and one for if it hadn’t been called and was held to its maturity at year 2005. The first synthetic bond combined noncallable treasury bonds that matured in 2005 with zero coupon treasuries (STRIPS) that matured in 2005. The synthetic bond had semiannual interest payments of $4.125 per $100 face value and a final payment of $100 at maturity in order to exactly match the cash flows of the 8 ¼ May 00-05 callable bond if it had been held to maturity. Thompson found the price of this synthetic b ond by using this formula: The ask price of the two bonds were given as $129.906 and $30.3125, respectively. She calculated the number of units needed of the 2005 treasury bond by dividing the semi-annual callable 00-05 coupon rate by the semi-annual 2005 treasury bond (4.125/6). The only part of the equation that she did not have was the number of units needed of the 2005 STRIP. She had to calculate the correct amount in order to imitate the cash flows of the 00-05 callable bond. Thompson did this by using this equation. The final cash flow of the 00-05 bond was $104.125, the final cash flow of the 2005 treasury bond was $106, and the final cash flow of the 2005 STRIP bond was $100 as there are no coupon payments in STRIPs. She found that the number of units needed of the 2005 STRIP bond was 0.3125, and then found that the synthetic price of this bond was $98.78. The second synthetic bond combined the noncallable bonds maturing in 2000 with STRIPS maturing in 2000. This synthetic bond also had semiannual interest payments of $4.125 per $100 face value and a final payment of $100 at maturity in order to exactly match the cash flows of the 8 ¼ May 00-05 callable bond if it had been called in 2000.  Through similar calculations of the first synthetic bond, she found that she needed 0.0704 units of the 2000 STRIP, and the price of this synthetic bond was $100.43. What Thompson found was surprising because both of these synthetic prices were less than the ask price of the 00-05 treasury bond. In normal markets this shouldn’t be the case because the synthetic bond would be worth more to investors since it does not have a redemption right to the government. In other words, the callable bond should have a lower price than the synthetic noncallable bond. 2. There are two ways that Thompson could exploit this pricing anomaly that she found. If she already held the 00-05 treasury bond, then she could immediately capitalize on the price discrepancy by selling the 00-05 treasury bond for the bid price of $101.125 and buying one of these synthetic bonds. Whether to buy the 2000 synthetic bond or 2005 synthetic bond is up for debate and opinion but it might be suggested to go with the 2005 one since the price of $98.78 is even smaller than the price of $100.43 and there would be larger price impact. By selling the 00-05 bond and buying the 2005 treasury bond, she would be getting the same cash flows for an immediate lower price. The second way that Thompson could exploit this pricing anomaly would be if she does not currently hold any bonds at all. A profit could be earned by establishing short positions in the relatively overpriced security and long positions in the relatively underpriced security. Thompson would borrow the 00-05 treasury bond from a dealer and then sell it. With that money, she would buy a synthetic bond and wait for the 00-05 treasury bond to decrease in price as prices converge. Once they do, she would buy the 00-05 bond for a lower price and give it back to the dealer, while pocketing about $2 (given that she bought the 2005 synthetic bond). There’s plenty of risk when trying to take advantage of pricing arbitrage. For example, the prices may never converge and Thompson might end up waiting almost 15 years without anything happening. Another risk is that the dealer might call the bond back while the money is tied up in the synthetic bond. Because of these risks, it might be better if she doesn’t try and take advantage of the pricing arbitrage at all. 3. Through close examination, a multitude of factors could have come into play resulting in the odd pricing of Thompson’s evaluated bonds. In studies conducted by Longstaff (1992) and Eldeson, Fehr, and Mason (1993) they found that negative option values were very common, ultimately implying that callable treasury bonds were significantly overpriced (35). Although it seems odd to have a negative option value, Thompson found herself in a rapidly changing bond market with the earlier introduction of derivative securities and STRIP bonds. With the introduction of STRIP bonds in 1985, problems arise in valuing callable treasury bonds using solely zero-coupon STRIP bonds being that they tend to undervalue the implied options (Jorden et al. 36). In addition, since negative option value bonds do not have implied volatilities, this raises the question whether callable bonds are priced rationally (Bliss and Ronn 2). Furthermore into Longstaff’s (1992) research, they exercised the â€Å"striplets† approach to investigate implied call option values. The â€Å"striplets† approach uses a U.S. Treasury coupon STRIPS and a coupon bond to synthesize a noncallable bond with the desired coupon (Jordan et al. 37). Longstaff finds that â€Å"61.5% of the call values are negative when estimates are based on the midpoint of the bid and ask prices, whereas 50.7% of the negative call estimates are large enough to generate profits even after considering the bid-ask spread† (38). Ultimately, the odd pricing in Thompson’s current situation is most likely due to the mispricing of callable bonds at the time due to the method of callable bond valuation and the early introduction of new types of bond securities in the market. 4. â€Å"Callable debt gives the treasury the right, but not the obligation, to redeem the callable treasuries at par (100) on any semiannual interest payment date within five years of maturity, provided that it gave investors four months’ notice† (Arbitrage in the Government Bond Market). There are multiple upsides for a company to issue callable debt. The main reason for this is to give the company (treasury) a sense of security in that they can redeem the bond in the event of an interest rate drop. For example, if the company issues bonds to investors at a 10% interest rate and then this rate  goes down to 8%, the company may redeem the callable bonds they’ve issued and replace them with the lower interest rate (8%). Callable debt is essential to have when there are long maturity dates. If you issue a non-callable bond for a fixed amount of years, there is a tremendous amount of risk for the treasury. For instance, if you issue a non-callable bond with a maturity of 25 years and the interest rate goes down over the years, this negatively affects the company. â€Å"Callability enables the treasury to respond to changing interest rates, refinance high-interest debts, and avoid paying more than the going rates for its long term debt† (Why Companies Issue Callable Bonds). Bibliography 1. â€Å"Bonds 200.† Why Companies Issue Callable Bonds. N.p., 24 Sept. 2014. Web. 30 Sept. 2014. 2. Jordan, Bradford D., Susan D. Jordan, and David R. Kuipers. â€Å"The Mispricing of Callable U.S. Treasury Bonds: A Closer Look.† Journal of Futures Markets 18.1 (1998): 35-51. Web. 3. Bliss, Robert R., and Ehud I. Ronn. â€Å"Callable U.S. Treasury Bonds: Optimal Calls, Anomalies, and Implied Volatilities.† The Journal of Business 71.2 (1998): 211-52. Web. 4. â€Å"Bonds 200.† Why Companies Issue Callable Bonds. N.p., 24 Sept. 2014. Web. 30 Sept. 2014. 4. 5. â€Å"Harvard Business School.† Arbitrage in The Government Bond Market. N.p., 20 Sept. 2014. Web. 28 June 1995. .

Marx, Wallerstein and Baudrillard

Marx, Wallerstein and Baudrillard Karl Marx and Marxism Marxism can be defined as a method social inquiry which looks at economic, socio- economic and socio-political aspects of a society. In its attempt to explain social change, the method relies on the concept of historical materialism, the rise and development of capitalism as a mode of production and the study of opposites (dialectical view).Advertising We will write a custom essay sample on Marx, Wallerstein and Baudrillard specifically for you for only $16.05 $11/page Learn More Marxism was founded by two Germany scholars namely Karl Marx and Friedrich Engels from the start of the 19th century to mid-19th century. They rejected the ideas of realism, liberalism but focused on class struggle as the basis of international relations. However, Karl Marx is seen as the most influential in the foundation and development of Marxism, thus the name of Marxism which was derived from his name. Marx was mostly interested in the study of society in terms of what he referred to as class struggle, which he argued was responsible for social change. On his part, Friedrich Engels based his argument on the study of opposites, arguing that social change was as a result of conflicting ideas, which influence the actions of people in the society, the argument being that the idea which is more dominant over the others shapes social change within a given society (Marx 87). Karl Marx sees people as both producers and products of the society in which they live. According to him, society is made up of different parts which influence each other but the economic part has the greatest influence. He argues that the history of human society is the history of tension and conflict. As per the manifesto written by him and Friedrich Engels in 1848, ‘the history of all existing societies is the history of class struggle, that of free men and slaves, lords and serfs who stand in a relationship of an oppressor and oppressed and thus are always in constant oppositions to one another. The conflict between the oppressor and oppressed is sometimes hidden or open war and at the end, they always have a reconstituted society. In the manifesto, Marx stated that ‘you do not have to be poor, nobody was born poor but the conditions that made man poor were created by man himself, and therefore can be changed by man’.Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Karl Marx gave more attention to the economy, which he argued formed the base of society while the superstructure which comprises things like culture, religion, social life and media were a reflection of the economic mode of production of the society. Karl Marx presented two class models of society namely the bourgeoisie and proletariat. The bourgeoisie are the capitalists who are few in number and are the owners of capital. They are also rich, powerful, oppresso rs, exploiters and they always win elections in democratic countries. On the other hand, the proletariats are the workers, owners of labor and they are the majority in numbers but are powerless since they are oppressed and exploited by the rich and they always lose in elections in democratic nations. The proletariat can be described as a class in itself in the sense that they share same objectives and relationships to the means of production, that is, they are laborers who are paid in wages. The two classes are always in conflict with each other because their interests are incompatible. While the bourgeoisie have the interests of maintaining the status quo which ensures their dominance, the proletariats are interested in changing the status quo which deprives them of good life. However, the two classes are not aware of the nature of the circumstances which they live in but assume that the situations which they find themselves in are natural and nothing can be done to change them. Th is is what Karl Marx calls a false class consciousness. The bourgeoisie are not aware that they are the exploiters while the proletariats are not aware that they are exploited or oppressed; they are also not aware that they are poor but assume that they are naturally supposed to be poor. However; when the proletariats become aware of the reality, that is, when they know that they are exploited by the bourgeoisie, what follows is a revolution. Marx argues that the Russian revolution of 1917 was as a result of the realization of the proletariats that they were being oppressed by the bourgeoisie.Advertising We will write a custom essay sample on Marx, Wallerstein and Baudrillard specifically for you for only $16.05 $11/page Learn More According to Karl Marx, the defining features of social class are the ownership or lack of ownership of the means of production. He argued that those who owned the means of production were able to exploit those who did own them. Marx was of the view that both labor and capital were very essential in the stability of the economy. This is because the capital cannot transform itself into wealth without the labor while the labor cannot create wealth without the capital. It therefore follows that both the bourgeoisie and the proletariat must work together, because none can exist independently of the other. What this means is that both the bourgeoisie and the proletariat are equal shareholders in the wealth which is created through their interaction. However, this is not always the case. This is because at the end of the production process, the sharing of the profits is not fair since the supply value is more appropriated by the bourgeoisie at the expense of the proletariat, who produces more labor which is not paid for. According to Karl Marx therefore, the levels of profits made by organizations was inversely proportional to the level of exploitation of the proletariat. That is, the more the companies make prof its, the higher the levels of exploitation and vice versa. In other words, what Karl Marx was arguing was that profit was synonymous with surplus value, which is labor that is not paid for. Unfortunately, the proletariats are not aware of this and they even go to the extent of celebrating when they hear that the companies which they work for have made significant increment in the amounts of profits. Karl Marx understood work as alienating. His argument was based on the capitalistic mode of production which has its roots in the industrial revolution of 1600. This mode of production is characterized by two groups of people namely the capitalists and the proletariats. According to Karl Marx, the proletariats own nothing except their labor, which they sale at cheap price to the capitalists. Karl Marx also explained the concept of alienation which simply means the existence of some dividing forces between things which are essentially supposed to be in harmony with each other.Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More For example, man created and discovered religion, but the same man subjects himself to uncomfortable religious beliefs or practices like refusing to take medicine due to religious beliefs. In this situation, religion makes man uneasy, yet it is the same man who creates the religion. Marx argued that the ideal purpose of work was to make man happy by enabling him move towards the actualization levels in his life. But due to the capitalistic economy, work is no longer playing its primary function in man, but rather, it is alienating him. According to Marx, man can be alienated in three major ways namely the alienation from the results of labor, alienation from the other workers and alienation of the worker from him or herself. Alienation from the results of labor happens when man works but he does not have a stake in the products of his labor and only gets his wages, which are way below the worth of the products of his labor. This is what Karl Marx calls exploitation, which creates pr ofits in form of surplus. Paradoxically, the surplus is not attributed to the workers but rather to the capitalists. Alienation from other workers takes place when the worker is transformed into a commodity to be used in the competitive capitalist economy. In this situation, the worker is not viewed as a social being but is tied to his or her work, in which he or she is paid as per his or her output. Alienation of the worker from himself takes place when the worker is robbed of his ability or opportunity to enjoy the intrinsic value of work. In the capitalistic economy, personal life is separated from work, meaning that the worker is transformed into a machine. This makes him or her to work for the sake of working, but not as a way of serving humanity or quenching his passion to work in a certain field. Immanuel Wallerstein He writes about post capitalism and agrees that Marx’s description of capitalism was accurate in the 19th century but out-dated in the 20th century. This is because major changes took place in Western Europe and North America which are now post-capitalists. Instead of the two social classes getting polarized as Marx had argued, the opposite has happened. For example, population of skilled workers has grown tremendously; inequalities in income and wealth have been reduced due to changes in social structure and the intervention by the State (Wallerstein 26). Social mobility is now more common and he link between ownership and control have been broken. In the organizational context for example, managers, but not the owners of the business exercise day to day control of the organizations as well as over the means of production. Under these circumstances, Marx’s argument that conflict was based on the concept of ownership of the means of production is therefore not valid today because there is no longer any close association between wealth and power. Wallerstein went ahead to argue that conflict therefore was not about the control over the means of production but over authority, which according to him was a legitimate power attached to a particular social role. For example, a manager or a teacher has a right to make decisions in an organization or classroom regardless of the wishes of the workers or students respectively. In all organizations, there are positions of dominance and subjection, some make decisions legitimately, others do not and this is the basis of conflict in post capitalism society. Those in the subject positions have the interest of changing the social structure that deprives them of authority and those in dominant positions have the interest of maintaining dominant structure in many social situations not just economic ones and so nobody is confined to dominant or subject positions and therefore society presents a picture of plurality of competing dominant and subject positions. Just like Marx, Wallerstein argued that there is a possibility of capitalism being replaced by socialism. Accordin g to him, false class consciousness may come to an end thus triggering revolutions which would eventually bring capitalism to an end. Jean Baudrillard His main ideas were centered on consumerism. He is one of the few scholars who loosely associated themselves with Marxism. One of his main points of departure from Marxism in regard to capitalism is that while Marx saw production as the key force behind capitalism, Baudrillard considered consumption as the key force behind capitalism (Tormey 73). He also differed significantly with Marx in regard to the issue of use-value. While Marx saw needs as genuine and innate, Baudrillard saw them as being constructed by people and therefore, the needs preceded the production of goods. In this sense therefore, consumption was more important than production because the desire to consume certain goods comes before the goods are produced. In his later works, Baudrillard completely rejected the ideas of Marx especially with regard to sign value of c ommodities. His argument was that commodities had a sign value which was one of the determinants of why people preferred certain commodities to others. To him therefore, the cost of a commodity was not as much important as the sign value of the same commodity. On his part, Marx had argued that the cost of production was the key determinant of the value of commodities in the market economy. Marx, Karl. Theories of Surplus Value Vols. 1-3, Amherst, N.Y, Prometheus Books, 2000. Print. Tormey, Simon. Anticapitalism: A Beginners Guide, Oxford, Oneworld BeginnersGuides, 2004.Print. Wallerstein, Immanuel. Geopolitics and Geoculture: Essays on the Changing World-System, Cambridge, Cambridge University Press, 1991. Print.

3 Reasons to Buy Your Real Christmas Tree Early

3 Reasons to Buy Your Real Christmas Tree Early The weekend after Thanksgiving is traditionally when​ most Christmas tree buying occurs. The decision to delay buying your holiday tree can certainly be determined by personal reasons including family tradition, religious doctrine and a post-Thanksgiving getting into the Christmas spirit barrage of media hype. If you are not bound by any of these or other personal preferences, you might want to consider shopping for and buying a Christmas tree a bit earlier in November. Buying early will pay off with less competition for higher quality Christmas tree selections and could ultimately result in a fresher holiday tree  if properly displayed and watered. Here are some of the reasons to buy a tree early. The Best Trees Are Harvested Early   You should consider mid-November as the  time to plan and follow through on your Christmas tree purchase. Christmas tree farms typically open during the middle of November and start cutting trees for lot sales. These are commercial wholesale farms (who often sell high-quality trees out the front door) and smaller tree farms catering to cutting your own tree. These types of Christmas tree farms promote early sales in designated sections where Christmas trees are of age and in prime shape. Obviously, these areas yield better trees at the beginning of the season, and its when you need to plan your visit. Farms selling trees online actually insist you place your order early in November. Although pricey, Ive found holiday trees purchased on the Internet to be of higher quality than even the premium selects growing on a tree farm. These trees are the growers best of the season crop and harvested first. Farms that supply online broker/sellers or farms that actually sell online take the best trees of their  plantation. They will arrive in perfect condition and are stand-ready (some farms even provide temporary stands with the tree). Instead of having to pick the perfect tree, you have professionals select the best for your holiday season. Get a Better Quality Tree Mounted in a Stand Most people dont realize that many Christmas trees bought on lots were cut in early to mid-November. So, when these trees are not purchased until after Thanksgiving, the drying process is well advanced and needle retention is often compromised. You are just as well off, and in our opinion much better off, buying the tree early and following our recommendations on how to prepare it for optimum freshness over the rest of the season. Although you just might luck out and get a fresh tree late in the season, you should not consider yourself getting a fresh tree by purchasing after Thanksgiving weekend. You just get a lower quality tree (picked over) with shedding needles as you delay your purchase. The sooner you get your Christmas tree in a watering stand after cutting, the longer will be the trees needle retention. The above reasons are the perfect excuse to buy a tree early and enjoying it during the Thanksgiving season. You should not consider yourself getting a fresh tree by purchasing later. The odds are that you just get a lower quality tree with shedding needles if purchased in December.   Avoid a Short Buying Season   Every year is different when it comes to Christmas tree availability. Christmas tree sales in numbers can vary annually because some years will have less shopping days between Thanksgiving and Christmas than others. This means that tree sellers will be busy over a shorter period of time and you will not have as many days to shop for a Christmas tree. Natural disruptions (insects, disease, fire, drought or ice) can cause regional Christmas tree shortages which can make certain Christmas tree species hard to find. In any event, buyers need to plan and purchase early to pick from the best holiday trees on the lot.

Should Homosexual Couples be Allowed to Adopt Research Paper

Should Homosexual Couples be Allowed to Adopt - Research Paper Example So, therefore if the same sex couples are in a  monogamous relationship, financially stable and most importantly a loving relationship, they  should be allowed to adopt a child if they decide to do so. Homosexual couples are capable of  raising healthy children, their life style will not be transcended to them and they will not be  psychologically damage as suggested by the traditional family. Being a heterosexual  does not guarantee you being a better parent. This paper will explore why homosexual couples  are fit parents and children that are abandoned can be given a chance at better life with these  parents.  Homosexual couples who are given the right to adopt children can have the same  advantages. The anticipation for health alteration and development as children is same whose parentages  are heterosexual. This is absolutely ridiculously and nonsensical. Our society imposes prejudices and biases  against people who are different and not considered â€Å"no rmal.†Ã‚  The legal procedures and structures throughout the world leave the same sex couples desiring to be parents with two options. Firstly, the couples can always adopt the children of their partners. This is termed as second adoption option which is somewhat an extension of what we call as adoption by step parents. Another has been the traditional options allowing homosexual couples to become foster parents. Already mentioned this law has enforced by the government of Florida. Under this law homosexual couples are devoid of the rights to become legal parents. There is no basis on which to assume that a parental homosexual orientation will  increase the likelihood of or induce homosexual tendencies in the child. The most important  role of any parent, same-sex or heterosexual, is to provide the basic needs, such as food, shelter,  clothing, health-care and love (Patterson, 1025-30).  Public controversies do not stop chasing case of same sex adoption even though the re are enough evidences to suggest that homosexual couples strive to fulfill all the necessities of their children. Homosexual couples are capable of raising healthy children, their life style will not be transcended to them and they will not be  psychologically damaging as suggested by the â€Å"so call traditional family†. Our findings have proved that gay couples are more interested in adoption compared to the heterosexual couples. This point is proven with the help of the statistics from The National Survey of Family Growth which shows that 46.2% homosexual couples are interested in adoption compared to 32.3% in heterosexual couples. 5.7% homosexual couples are even ready to take concrete steps for adoption compared to 3.3% heterosexual couples (Brodzindsky and Pertman, 64). Such a data shows that future of many more children could be secured if eligible homosexual couples are allowed to adopt. In most of the cases it has also been found that such same sex couples are b etter educated and more financially stable. But out of such 3.1 million couples only 1.6 million have been given the right for adoption (Brodzindsky and Pertman, 64). This shows pure discrimination on basis of abnormal sex orientation. When heterosexual couples can still have children with medical assistance, homosexual parents will naturally have more urge towards adoption and this will ascertain security for many orphans. With proper monitoring of their activities for at least a couple of years after the adoption the safety of the

What is a Shaman Essay Example | Topics and Well Written Essays - 250 words - 1

What is a Shaman - Essay Example There are three basic concepts of Shamanism. The first concept of shamanism is the belief that animals, plants, water and rocks all have spirits which have to be respected and cared for by the human race (Michael. 59). The second concept focuses on personal responsibility and involves the belief of Buyan which can be related closely to Karma. The concept states that taking responsibility of one’s action is mark of an upright individual. The third concept advocates for balance. It states that balance is an important aspect that maintains harmony in the environment, within an individual and the community at large. In shamanism, a Shaman is approached when things get out of balance within the community, homestead or an individual (Michael. 59). The concepts of shamanism help in the understanding of the link between the living and the spirit world. The first concept portrays this notion through the use of a Shaman as a mediator between the living and the spirit worlds. The second concept advocates for personal responsibility which is an important aspect in human beings as it promotes self actualization in an individual thus creating positive thinking towards development as well as other life responsibilities such as management of the environment, promoting a peaceful existence in the community and respecting the human race. The third concept promotes a balance in natural and anthropogenic factors thus creating a harmonious environment (Michael. 62). Harmony is an important entity in community build-up as it is used to create a social capital which is required for communal development. It also maintains peace in the