Advantages and Disadvantages of Government Systems Essay

Around the world, each country has their own way of running things and their own government system. In this essay I will discuss the advantages and disadvantages of 3 government systems; unitary, confederate, and federal. Although some government systems might have similarities with the others, they are all very different and have different problems. A unitary state is sovereign and governed as a single unit where the central government is supreme and any administrative divisions only have the power that the central government allows them to have. One advantage of the unitary form of government is it’s a small government with less people so less tax dollars are used to pay government workers and more tax dollars go to the government. Another advantage is there is fewer conflicts between national and local governments. Some disadvantages of a unitary form of government are; there is slow government response because of being such a small government and having so little resources and people. Another is again related to the size of the government, since it’s so small, all the people work together on issues in the state being governed so it’s easy for them to lose track of smaller, local issues. A confederate government is a form of government where a union of free states creates a central government with limited power. The members of these states have supreme influence over all problems except those few that have been specifically delegated to the central government. An advantage of a confederate form of government is local governments are better suited to help citizens and government response is rather quick on a small scale. Another advantage is confederacies minimize the growth of a central government, which makes it much easier to focus on local issues, and the citizens needs. A disadvantage of a confederate government is the national government is weak and they often have trouble fighting wars or keeping a stable economy. Another disadvantage of this form of government is there is a lack of unity and common laws leading to misunderstandings and unrest. A federal government is a government in which powers and responsibilities are divided into national levels to address national and regional needs.  Power is shared by a strong central government and states that are given significant self-rule. An advantage of a federal government system is federal unity. Local governments handle their local problems and the national government handles national problems. Also, there are many opportunities for citizens to participate in decision making relating to government choices. Some disadvantages are citizens living in different parts of the country could be treated differently in the area of law enforcement pertaining to different laws punishments in different states and programs such as welfare where individuals could make more or less depending on certain expenses in their area. It is important that we have an equal understanding of our government policies and the way our government is run. We should know how much voice we have when it comes to government decisions and formations of laws and such. Know the differences in government systems so you’re not left out when it comes to certain matters.

Microcredit In Bangladesh

Microcredit programs have provided a hugely positive impact on third world and developing nations where employment opportunities are limited due to the collapsed and limited economies of these countries. What microcredit programs entail is the issuance of small loans to individuals who would not normally qualify for a loan because their lack of employment and collateral assets make them poor candidates in the eyes of financial institutions. Microcredit loans look past the risk involved regarding the issuance of the loan and provide initial venture capital to impoverished people start a small business. Of all the countries where microloans have proven successful, it would be the country of Bangladesh. Throughout its history, Bangladesh has suffered tremendously from a variety of maladies that have lead to its current economic depression. Under British colonial rule, the population suffered massive famines; and in the 1970’s a series of natural disasters lead to even further economic despair. Today, Bangladesh currently suffers from a severe overpopulation situation that has further pushed economic disaster. Because of its severe depression, Bangladesh was essentially the trial location to test of the feasibility of microcredit loans. Organizations such as Grameen Bank have special programs to provide charitable loans to Bangladesh and the bank has documented the proof that these loans are successful. According to Grameen Bank: Lasting peace can not be achieved unless large population groups find  ways in which to break out of poverty. Micro-credit is one such means. Development from below also serves to advance democracy and human rights†¦.. Every single individual on earth has both the potential and the right to live a decent life. Across cultures and civilizations, Yunus  and Grameen Bank have shown that even the poorest of the poor can  work to bring about their own development. Microcredit programs have proven successful as a means of providing underprivileged people with an opportunity to rise out of a disadvantaged position. In fact, these programs have been so successful that many banks have started to reconsider the people of Bangladesh as â€Å"high risk† candidates for loans. That is, because the microloans have proved successful, there is a belief on many bank’s part that money lent to the people will return (with interest) when the borrower launches a successful business. The Microcredit Summit Campaign details a popular success story: With a gift of 10,000 CFA ($US 16) in 1994 from her father, [Yama Laye] set up a small table to sell essentials such as tea, sugar, salt, matches and sweets by the roadside. The profit she made never exceeded 500 CFA ( $.80) per day. Almost all her profits were spent on the purchase of essential food for her husband and her six-year-old child. Yes, all it took was a mere $16 to set in motion the ability for a family to be able to purchase the essential items needed for survival, a purchases that would not have been possible in the absence of the $16 grant. If anything, the microcredit loans have shown that there is always hope and there is always an answer, provided people work in concert together to find sane, sensible, effective means of solving a problem. In a way, Microcredit programs are a unique mix of financial philanthropy and human rights and it is a unique mix that has repeatedly been proven as successful. Works Cited Microcredit Summit Campaign. (2005) Results Educational Fund. 22 October 2006. URL http://www.microcreditsummit.org/newsletter/ borrower-Yama.html What is Microcredit? (January 2003) Muhammad Yunus. 22 October 2003. URL http://www.grameen-info.org/mcredit/index.html   

Letter of Intent Personal Statement Example | Topics and Well Written Essays - 250 words

Letter of Intent - Personal Statement Example One of the most meaningful experiences to me was internship in Cairo Microsoft Innovation Center (CMIC). I have also participated in Imagine Cup 09 in Cairo hosted by Microsoft. This experience can serve as a proof of my professional skills and abilities. In my home country, I have worked on autonomous systems development projects, specifically, on Unmanned Aerial Vehicles (UAV) for 15 months. Moreover, I have enough experience in collecting requirements, designing, implementing, and testing different software applications. I also have a good knowledge of some key programming languages, such as, c++, java, and JSP. As a highly motivated person that enjoys working hard and achieving intended results I really want to be the part of this program since it will open a new opportunities towards international work experience. I am grateful in advance for thorough consideration and hope for the call for

Business Strategy in Extractive Industries Essay

Business Strategy in Extractive Industries - Essay Example The company must improve on its reserve replacement rate. Although, the company has a good price earnings ratio, still they need to work on their return on equity values. This is significant from the investors’ point of view. Overall the company has a ‘stable’ financial state. At the same time it has enough strength to strengthen its performance in the next years. Statoil is a leading European company engaged in natural oil and gas production. It is Norway based company and has expanded in most of the major oil and gas markets of the world. It has been operating in this industry since the last 28 years and has acquired a lion’s share in the market. It is the biggest oil and gas company in Norway. The industrial structure of Norway is very competitive with high degree of governmental interference. Most of the oil and gas reserves in Norway are controlled by the government. Statoil has been no exception to it and Government holds nearly 70% of its total stake. However, now the government is looking forward to open the economy by liberalizing the market. If the government is successful in its attempts, the competition in the energy industry will be intensified further. Statoil has become one of the major players in the energy industry as it has successfully acquired the competitive advantage over its competitors. In order to develop the competitive advantage, Statoil has maintained its resources and capabilities quite efficiently. Major resources of Statoil include its vast oil & gas reserves and its up-to-date technology & innovation. Apart from these, it has also acquired sufficient skilled manpower and financial resources. These resources have enabled the company to gain an upper hand by adding value to its brand image. Overall financial position of Statoil is satisfactorily stable. The P/E and liquidity ratio and low-debt preference indicate the stabile condition of the company. However, according to

Human resource-discrimination in workplace Essay

Human resource-discrimination in workplace - Essay Example The aim of this paper is to provide a brief overview of discrimination in the modern working environments, to analyse the role of anti-discriminative legal obligations on employers, and to determine the ways of what a good employer can do in order to prevent and manage discrimination at work. The remainder of the paper is structured as follows: Section 1 provides a brief definition of discrimination and major types of discrimination; Section 2 discusses and illustrates why discrimination is still an issue in workplace; Section 3 provides a brief overview of the obligations imposed by law on employers; Section 4 discusses of how employers can manage prevent and control discrimination practice at work; Section 5 is concluding part of the essay. Inequality is defined as unequal allocation of benefits and opportunities (Cohn, 1998). Unequal treatment can occur in various life situations, however, it is the most obvious when economic resources such as jobs, income, and wages are distributed unequally (Cohn, 1998). Unequal hiring process and employment conditions can be viewed as discrimination at workplace and in employment. More specifically, Cohn (1998:3) defines discrimination as â€Å"the provision of unequal benefits to people of different ascriptive statuses despite identical qualifications and merit†. Some of the most common grounds for discriminative behaviour at work is recognised to be race and sex. However, discriminatory practices are based not only on the grounds of race and sex, but also on the grounds of pay equality, disability, nationality, religion, etc. (Wright and Conley, 2011). Discrimination can have two forms: direct and indirect. Direct discrimination implies an unequal treatment of an individual on the ground of his/her diversity less favourably than others. Thus, for example, it would be discriminatory to select a male engineer for work in

Media's Manipulation of the Fashion Industry Dissertation

Media's Manipulation of the Fashion Industry - Dissertation Example The essay "Media's Manipulation of the Fashion Industry" talks about Consumerism in Fashion. The magazines’ promotion of designer fashion garments was conditional, complicated and mediated. Fashion media add their own gloss and frame of meaning to the fashion components or raw materials, when representing fashion. Significantly, the work and purpose of fashion media is constrained by the different â€Å"traditions and conventions which have defined fashion journalism as a specialist field, shaping what can be said, and in what kind of format†. Considerable transformations in consumer attitudes, age profiles, and shopping modes, as well as increasing orientation towards lifestyle consumerism, have led to challenges and opportunities for contemporary designers, retailers as well as the fashion media. Business and couture have always been in close partnership, although the economics of the trade have been closely guarded â€Å"behind the presentational glamour of seasonal fashion shows†. The revisionist history of couture as composed only of the processes of designing and the making of high fashion apparel is â€Å"manipulative, strategic and cynical†. By not divulging the entire picture, fashion journalists’ accounts function as traps for the naà ¯ve reader. The fashion magazines with various journalists and related professionals behind them, â€Å"promote and hype only the notion of couture fashion as high art, and as beyond-reality dreams†. The media control the consumers and the industry by endorsing designers as geniuses., and their clothes as the ultimate in creative innovation. The fashion industry’s design flexibility is well known; however its methods of adjusting to economic trends is not revealed. The industry is â€Å"knowing, manipulative and clever, building with vast success on the uniqueness of couture’s sartorial elitism† (White and Griffiths, 2000, p.122). The glossy magazines succes sfully conceal the industry’s business interests and reinforce the progress of couture companies by avoiding any references to their commercial processes (White and Griffiths, 2000). Fashion journalism is a narrow, closed world consisting of writers, photographers, fashion assistants, contributing editors, and others who share the same ‘fashion world’ as the designers, company directors, press officers, and publicity personnel. This sector considers itself trivialised and associated with lack of intelligence and substance. A closer relationship with industry is maintained by specialised fields in journalism related to consumer-based activities, based on acquring advertising revenue. This is because industry is the source of both news and revenue, states Tunstall (1971). Thesis Statement: The purpose of this paper is to investigate how the media such as fashion magazines, films, and advertising approaches are used to manipulate the fashion industry, and how they i nfluence consumers. The fashion magazines, their target markets, and the Chinese and British markets will be compared. Further, the psychological elements behind fashion

Sexuality and identity Essay Example | Topics and Well Written Essays - 2000 words

Sexuality and identity - Essay Example There is need to provide them with useful learning materials, services and the opportunity to feel part of the society. The lack of appropriate sex education in Jake’s past life is the main undoing of the education system that he has gone through. By contrast the presence of only heterosexual lessons which attempt to address the needs of the community has resulted in gay people like Jake being labelled as ‘abnormal’. As Hoshall (2013) has argued, the procrastination to include sex education for the gay community (the absence) has triggered the ‘presence’ of labels, hatred and relegation of the likes of Jake as semi-human in society. Proponents of sex education argue that the incorporation of gay issues into such programs would limit homophobic intimidation, improve the welfare of gay community, and limit cases of seclusion that affect gay students (Williams, Prior and Wegner, 2013). Jake’s relegation from the social spheres of life, which is to blame for loss of self-confidence would have been resolved through tolerance programs for gays at school (Yip et al, 2013). Nonetheless, his suffering could have been the result of the ‘superiority’ of heterosexuals and sex education programs for the community as opposed to gays. According to Byrd (2011), the ‘weird’ programs for gays may have been shelved to avoid a political perception on learners that could deviate their thinking from supposedly moral ways of life. Gay sex education is as of now not included in many learning programs. This situation has cast Jake in bad light. Studies have also indicated that affected students usually do not find current sex education programs for gays to be appropriate (Woodford et al, 2012). Jake is one such case; he has pointed out that the whole learning environment including instructors, fellow students, and the immediate community have had conflicting perceptions on the

Best Buy SWOT Research Paper Example | Topics and Well Written Essays - 750 words

Best Buy SWOT - Research Paper Example In the case of Best Buy, the strengths are powerful scaling capability, the people: culture and passion, strong market share, (Judge), high level of community service and local involvement and customer service (OPPapers.com). Best Buy Co., Inc. entered the business in 1996 when computers and internet are really gaining much popularity. It has "grown steadily and enhanced its business through inspired innovation" and "continually transforming into a dynamic, customer-driven, talent-powered company that focuses on enhancing our customers' enjoyment of technology" so that now it already has branches in U.S., Canada, Europe, China and Mexico (Best Buy). From one branch it was able to scale up its operation to cater to cross-country branches. With 155,000 employees, Best Buy is a hub of satisfied and energetic individuals with the strength of youth and innovation (Best Buy). Due to its strength in scaling up production and service, another branch in South America such as in Chile is very much possible. Best Buy always remembers to share its success with the community. It has strengthened its community partnership with the Best Buy Children's Foundation and other charitable programs (Best Buy). Best Buy also h as increasing market share. Forbes.com reported an increase of sales by 1.7% in the first quarter of 2007, while competitor Circuit City experienced a plummet of 5.6%. (Farrell). The recent report also reveals that from March to December 2009, "Best Buy's combined online and offline share of the notebook computer and digital camera markets gained 5.5%, flat-panel televisions increased 5.2%, and desktop computers gained 4.7%" (Vertical Web Media.). The increasing market share enables Best Buy to expand its reach, even to foreign countries. It is coupled with popularity, which it can capitalize on once it opens in Chile. Lastly, Best Buy has an excellent customer service which makes shopping more convenient. Opposite to the internal strength is the internal weaknesses. In the case of Best Buy, these weaknesses include too much bureaucracy, undifferentiated products or services and complicated shipping schedules (OPPapers.com). The absence of strengths on each of these aspects result to a business weakness, which can cause dismay to customers. Too much bureaucracy inside Best Buy results to lesser efficiency. If the hierarchy is so tall, transactions may take longer time to be accomplished. This problem is much worse given an operation in a foreign country such as Chile. The delay in delivery and logistics can harm the entire business. There is also the problem of undifferentiated products and services, which is primarily not beneficial to customers. Lastly, since there are already a lot of customers from around the world, Best Buy has not still found the best way of managing their logistics especially in shipping. This can cause delay and inconvenience on the part of the customers. Looking at the external environment may "reveal certain new opportunities for profit and growth" (Internet Center for Management and Business Administration, Inc.). The opportunities present for Best Buy are increased preference for the brand, more categories to enhance the brand (Judge), and more expansion opportunities (OPPapers.com) and the increasing use of computers and internets in other countries. The gaining of greater market share for Best

Globalization and Its Discontents Essay Example | Topics and Well Written Essays - 1000 words

Globalization and Its Discontents - Essay Example Stiglitz proposed a common explanation with realistic assumptions: agents on one side of the market have much better information than those on the other side. Borrowers know more than the lender about their repayment prospects; the seller knows more than buyers about the quality of his car; and tenants know more than the landowner about their work effort and harvesting conditions (Ibid). In Globalization and Its Discontents, Stiglitz referred to larger players than mere agents of the market, landowners, and tenants - and these are the multilateral institutions and their principal shareholders in pressing developing countries - supposedly to liberalize their economies. In this controversial book, Stiglitz argues that although globalisation should be a powerful force for good, it has been badly mishandled by the West, especially with its lead institutions, the World Bank and the IMF. As Stiglitz contends, those concerned with economic development have seen economic openness and liberalization as panaceas. Instead of progress however, he argues, the result has all too often been devastation. What happens, according to him, is that developing countries open themselves to trade, deregulate their financial markets, and abruptly privatize national enterprise but then experience more economic and social disruption than growth. Foreign direct investment is said to have destroyed potentially viable domestic companies. And liberalized international finance has made emerging-market economies "more vulnerable to erratic shifts in investor sentiment" without giving out any visible benefits. Stiglitz is a respected economist who actually worked as a senior official at the World Bank. In this book, Stiglitz recounts his experiences in some places including Thailand, Indonesia and some other Asian countries, Russia and Brazil, and Argentina. He finds repeatedly that the International Monetary Fund puts the interests of its "largest shareholder," the United States, above those of the poorer nations it was designed to serve. In the end, he said these countries which had enthusiastically embraced free-market policies have been "engulfed in catastrophic financial crises, leading to bankruptcies, unemployment and social unrest". He also strongly criticizes the role that has been played by the U.S. Treasury in many of these crises and occasionally also criticizes the World Bank, an institution where he was once affiliated with as Chief Economist. His main criticism of these institutions is based on their closed-door debates, hence involving precious little participation from the host countries outside of their finance ministries and central banks. While the policies made by these institutions affect billions of people in the developing countries, they have little voice in the whole process, he said. Another point which he labours about in the book is about capital market liberalization, and how he argues that it contributes to "volatility of capital flows into and out of a country." In general, he finds fault with the manner liberalization and privatization has progressed in several of the new and transitional economies because they do not have "the right institutions that are an

Analyzing Suicide Bombing Essay Example for Free

Analyzing Suicide Bombing Essay According to Robert Pape there have been 188 recorded suicide bombings all over the world from the period of 1980 to 2001. For almost two decades now he believed that it proliferated because it was effective. The perceived connection between suicide terrorism and Islamic fundamentalism also has been somewhat uncertain and also likely to worsen America’s situation. Instead what he observed was that nearly all suicide terrorist campaigns have one specific and strategic goal and that is to compel liberal democratic countries to withdraw military forces from their territorial boundaries. Religion as commonly know was not the sole cause, although it is often used as a tool by terrorist organizations in recruiting members and in other efforts in service of the broader strategic objectives. (Pape, 2003 ) Three patterns summarized his conclusions on the strategic and coercive logic of suicide terrorism. First is timing. Almost all suicide attacks occur in organized manner. Second is nationalist goal. Their campaigns are directed to gain control of their national homeland territory. And thirdly target selection. Suicide terrorist campaigns are directed toward liberal democracies. Suicide terrorist for example were successful to compel American and French forces to abandon Lebanon in 1983. (Pape, 2003) Suicide terrorist learned that the strategy is effective. It is coercive enough to compel a target government to change policy. Suicide terrorist often views democratic countries like United States, France, Israel and India as â€Å"soft† or vulnerable to coercion than authoritarian regimes that is why they are being targeted. (Pape, 2003) Analyzing Suicide Bombing Suicide bombing became one of the prominent strategies of contemporary terrorism. It has been one of the most difficult to understand since it’s difficult to explain how a person could risk his or her life in doing such a crime. It has led some to believe that those willing to sacrifice their own life are â€Å"religious fanatics†. (Pape, 2003)To understand suicide bombers one should also consider different incidences and real motives. One should not be limited on single specific terrorist group and religion. Suicide bombing as defined is any violent, politically motivated attacks, carried out in deliberate state of awareness of a person. (Bloom, 2004 ) Terrorist organizations overwhelmingly claim that violence is a tool of last resort and a sign of desperation. Suicide attacks in some contexts inspire a self perpetuating subculture of â€Å"martyrdom†. (Bloom, 2004) Possible candidate individuals to become suicides bombers are those people produced by the organization or educated outsiders who flock to the organization to volunteer because of personal reasons. (Bloom, 2004) Religious fanaticism cannot answer completely why the world leader in suicide terrorism is the Tamil tigers in Sri Lanka, a group that believes in Marxist/Leninist ideologies. Existing explanations have been also questioned by the widening range of socio-economic backgrounds of suicide terrorist. Terrorism has evolved dramatically over the years which are motivated either with religious ideologies or political convictions. Like other anti-colonialist predecessors of the immediate post-war era, many of the terrorist groups of this period promptly valued and adopted methods that would allow them to publicize their goals and accomplishments locally and internationally. Forerunners in this were the Palestinian groups who pioneered â€Å"hijacking† the modern generation suicide terrorist attack. (Burgess, 2003) Terrorists claim that they are using terror as their last resort. Ehud Sprinzak for example provided the organizational logic of using suicide terrorism. Because the enemy possesses the most sophisticated weapons in the world and its army is trained to very high standards they have nothing which to repel killing and crime against them except the weapon of martyrdom. It is easier and cost only their lives. For the terrorist, human bombs cannot be defeated, not even by nuclear bombs. (Bloom, 2004) Analyzing His Policy Prescription He has some policy prescriptions for containing suicide terrorism. According to Pape offensive military action or concession alone will not benefit for long. It will tend to encourage the terrorist leaders to further their coercive efforts. Homeland security and defensive efforts should be the main part of the solution. Identifying the best method to stop suicide terrorism is a complex task. Most ethnic civil wars can often be resolved by demographic separation because it reduces both means and incentives for both sides to attack. (Pape, 2003) The United States should emphasize instead in improving its domestic security. United States should adopt stronger border controls to make it more difficult for suicide attackers to enter the territory. The United States should also work towards energy independence and thus reduce the need for American troops in the Persian Gulf where their presence has caused greater agitation to their enemies. When one considers the strategic logic of suicide terrorism it becomes clear that America’s war on terrorism is heading in the wrong path. How should a democratic nation like America have responded in the past? They had to react by having heavy military offensives which only provoke more terrorist attacks. Offensive military action or concessions alone will not work for long. Advocates of concessions should also recognize that even if they are successful in disrupting their operations it will encourage terrorist to further their tactics. By limiting of offensive actions and concessions, homeland security and defensive efforts must now be strengthened. What is ironic in his prescription was that he suggests that the US troops in the Persian Gulf and Iraq should leave the territory but also see the move a bad idea to stop suicide terror because it tends to encourage terrorist more to use the tactic. Bloom vs. Pape’s Argument Professor Robert Pape earlier argued that suicide terror is a coercive strategy directed externally or against a more powerful enemy to coerce democratic governments to change policies and evacuate the territory that they control. (Bloom, 2004)Pape argues that liberal democracies can be coerced through the use of sufficient violence. Bloom believes that although Papes explanation is useful for understanding how suicide bombing is directed against the external enemy, it overlook the domestic political dynamics and organizational motivations for â€Å"outbidding†. The outbidding is due to the competition between the rival terrorist organizations. Greater violence will give them recognition from the crowd. Papes model correctly identifies the motivations of nationalist inspired suicide terrorist; however it does not fully explain why the religious groups with goals beyond territorial demands might use it. Papes focus on democratic countries should is debatable. He argues that suicide bombings work best against democratic regimes because of access to the media, freedom of movement and the â€Å"shock value†; however his theory cannot be adequately tested or verified at this point. Lastly Papes model cannot explain why those who share the same ethnicity as the terrorist are targeted. This approach regards the opposite engaged in suicide terror and cannot give an explanation for the competitive environment that emerges in some case and not in others. All of which requires an analysis of domestic and local level study and observation. (Bloom, 2004) Work Cited Pape, Robert â€Å"The Strategic Logic of Suicide Terrorism† August 2003 American Political Science Review, The University Of Chicago 14 October 2008 http://danieldrezner. com/research/guest/Pape1. pdf. Bloom, Mia â€Å"Devising A Theory of Suicide Terror† February 2004 Center For Global Security and Democracy, Rutgers University 14 October 2008

Language And Reason In History History Essay

Language And Reason In History History Essay Language and reason, two ways of knowing, play important roles in the area of knowledge of history. They are both concerned with the extent to which they provide objective knowledge in history. The role of language in history is to provide a clearly crafted unbiased account of a historical event which is described to people through language, whereas the role of reason in history is to help the reader in order to make rational decisions in evaluating the validity of a historical account. Our first knowledge issue concerns the extent to which the language a historian uses, reflects their own paradigms. A historian must analyse information in the past accounted by other historians in order to gain insight into what has occurred, then pick and choose and organise in accordance with his insight as to what is significant (Abel, 1976, p. 165). As different historians will have differing perspectives about certain events, the history a historian writes about, will be based on his particular interests, which are, in turn, partially dependent on his culture (Alchin, 2006, p. 194). For example, a nationalist Croatian historian writing about the War of Independence in Croatia would hold a very different perspective to a communist Yugoslavian historian recounting the same event. One could argue that communism was not executed properly and therefore encouraged the rise of nationalism which slowly led to the dissolution of Yugoslavia, while the other would claim that communism is an effective sociopolitical structure and the war need not occur. A counter claim of this is that scientists are objective as scientific measurement can be tested independent from the individual scientist who proposes them despite the language they may use. This is because scientific explanations are not as reliant on the use of language because in order for a scientific law to be discovered or proven, experimental results must confirm an initial hypothesis. Therefore scientific explanations are more successful in providing us with objective knowledge. Similarly, another knowledge issue deals with the extent to which historians attempt to be objective. It could be argued that, since the past no longer exists, it cannot be changed and is therefore completely objective. However, as historians evaluate information based on their interpretations of the text through their own paradigms, the interpretation depends not only on the objectivity of the historian writing it but also on the person who reads it. This is evident in Russia in a new middle school history teachers manual by Alexander Filippov, which calls Stalin the Union of Soviet Socialist Republics most successful leader and an effective manager. Filippov believes, that it is wrong to write a textbook that will fill the children learning from it with horror and disgust about their past and their people. And it is why we need to have a generally positive term for the teaching of history in the middle school which will build optimism and self assurance for their young people and m ake them feel as though they can play their part in the bright future of this country (Josefs comeback, 2010). Filippov is not being objective as he is writing positive history influenced by Vladimir Putin, in order for the past events to not seem so daunting on the pupils learning about the history of their country. The implication of this is that Filippov is refraining the children from being able to fully understand and appreciate the events which took place, which has influenced how the country is today. These implications will be still present in one hundred years from now when there will not be any civilians alive who intrinsically know the full extent of Stalins impact on Russia and therefore can not equip the children with truth of events as they will be heavily influenced by the positive history as written in their textbooks. When a text is mistranslated from one language to another, this will hinder the extent of its objectivity. For example, when the Treaty of Waitangi in New Zealand was translated from English to MÄ ori in 1840, in the MÄ ori text of article one, British translators used the inadequate term kawanatanga, a transliteration of the word governance (Meaning of the treaty, 2010). In the MÄ ori text of article two, British translators used the term rangatiratanga, a transliteration of the word sovereignty. The implication of these mistranslations of the Treaty of Waitangi from English to MÄ ori was that in article one, the English version describes that MÄ ori completely give up their kawanatanga (sovereignty) and power to the British Crown. The MÄ ori version however only implies a sharing of power as they gave the British a right of governance. Another implication is that in article two, in the English version the Queen guaranteed to MÄ ori t he undisturbed possession and control over their lands, forests, fisheries, and other properties, emphasising property and ownership rights. The MÄ ori version however, promises much broader rights in regard to upholding the authority that tribes have always had over their lands and taonga, this implies possession and protection of things such as language and culture (Tourism New Zealand, 1999). There would have been no mistranslation in the Treaty of Waitangi if the British translators had used rangatiratanga in article one of the MÄ ori text and kawanatanga for article two, resulting in the problem of meaning and understanding from the misuse of language. Furthermore, an additional knowledge issue deals with the extent to which reason helps us acquire objective information in history. As the historian never indeed knows all there is to be known about an event, the historian will then select their facts and decide how they will describe them. As a result of this, historical accounts may be confronted, compared, and contrasted, emphasis and bias may be made manifest; evidence may be scrutinised; arguments may be evaluated (Abel, 1976, p. 168). Often a historian will use both deductive and inductive reasoning to draw a conclusion about a historical event. Using these particular methods, a historian can, move from the general to the particular (deduction) and then from the particular to the general (induction), in order to state a conclusion that was previously unknown and help bring us closer to the truth. However, deduction turns out to be no more certain than induction. This is because the premises on which deductive reasoning about th e world is base must be derived from induction. An example of this is that due to the use of fallacies when historians describe historical events in the past they make unwarranted inferences and draw a conclusion from something which does not follow from premises from which they initially drew it. Subsequently objective information is not always acquired. For example, during the witch hunt against communist in the USA in the early 1950s, Senator Joe McCarthys case against one alleged communist was that there is nothing in the files to disprove his communist connection (van de Lagemaat, 2005, p. 127). However, in order to show that someone is a communist; we need positive evidence of their political affiliation. This is because fallacies of this type occur if you attempt to claim that something is true on the grounds that there is no evidence to disprove it (van de Lagemaat, 2005, p. 127). When historians use such fallacies they do not allow the reader to obtain objective knowledge i n history and are therefore not enabling the reader to obtain the inner truth about something. Our last knowledge issue concerns the extent to which vague language can lead to poor reasoning in history. The role of reason in history is to make logical and rational decisions when it comes to evaluating sources and their validity. One of the main reasons of poor reasoning in history is the ambiguity of the language in which the historian describes a historical event. This is because, history is constantly being rewritten, not simply because new facts are discovered, but because it is always perceived by an individual as wrongly written. The past is in a steady process of reinterpretation and reconstruction as we want it to be meaningful to us in the present (Abel, 1976, p. 164). Historians use vague language in order to convey an idea to individuals as they themselves are not consciously aware of what happened in the past as they rely on primary and secondary sources to provide them with the information. In turn, however, there may be more than one true account of the past (Abel , 1976, p. 168), as through the ambiguity of the language used, two historians of opposing views on a particular event could both be providing the reader with true information, but due to the vague language used, it leads to poor reasoning of which the historians are not able to make explicit claims of what occurred. Both the roles of language and reason are important in acquiring the reader with objective information in the area of knowledge of history. Although language and reason differ in the way in which they help the reader obtain this knowledge, they both aim to provide an account which is true. As the reader, we hope that we will obtain a truth which is objective, however inevitably there will be elements of personal paradigms and bias which will hinder the extent to which the information in history is objective. Language and reason play an equally important role in history and as a knower I do not deem one to play a more critical role than the other. In the late 1830s, there were approximately 125,000 MÄ ori in New Zealand and about 2000 settlers. More immigrants were arriving all the time though, and Captain William Hobson was sent to act for the British Crown in the negotiation of a treaty between the Crown and MÄ ori.

Senior Capstone :: Free Essay Writer

Senior Capstone Observations I visited the Ronald McDonald House on September 15, to meet a family that was staying there because they had a very ill child. I was there to interview Mr. and Mrs. Davis who’s had their five-year-old son, John was at Children’s Mercy Hospital. The Davis family was there because John has leukemia and needed chemotherapy. When I first met John, I was at a loss for words. I saw a five-year-old boy that didn’t have any hair (like me) and was thin like a cable wire. I thought it was great that John got to say with his family on good days. What amazed me so much was his spirit and thrust for life. Because they had faith in their little boy getting better, his parents were very much the same. I asked them what made them so upbeat and positive. They told me that they were getting the best treatment around and being close to him everyday really helped. I didn’t quite understand what they meant and asked them to explain. They told me that staying at th e RMH with their son meant everything to the whole family. Instead of being in a hospital bed, or hotel room, the Davis’s kept close and were able to do everything that a family would do. Such things included playing with toys, having meals together, taking walks, enjoying closeness with one’s family, and all in the comfort of a home. The Davis family had been there for almost a week and was very happy to find a place that allowed them to stay without having to pay. They were also elated to know that they could watch after their child and not worry about how he was doing alone in some hospital bed. While I was interviewing the Davis family, I saw so much activity going on around me that it was difficult to concentrate. It was awesome to see, because everyone was interacting with everyone. Parents were relaxing and enjoying themselves, while children were playing together and loving every bit of it. Basically, what I learned from the Davis family is that they were very grateful to the Ronald McDonald House for allowing them to stay close to their child, affording them all the comforts of home while so far away from family and friends.

Five Different Types of Knowledge That I Nurse Can Use to Care for Pati

The nurse, Allison, in the case study used a wide variety of knowledge in order to best care for her patients in a holistic approach. In this section, five different types of knowledge will be discussed and explained how Allison used each type to nurse her patients. Carper, Van der Zalm, Bergum and Wolfer described empirical knowledge as â€Å"the knowledge we consider to be â€Å"fact,† such as what we read in textbooks, or what has been demonstrated through research† (as cited in Bungay, 2005). Allison consistently applied empirical knowledge throughout the beginning of her shift. A few examples of when empirical knowledge was applied in her nursing included listening to report and gathering all the information on the patients in order to determine her priorities of care. Explaining the benefits of a nicotine patch to Mr. Nelson as well as when she determined Mr. Nelsons oxygen supply and demand was adequate due to her assessment of the cardiac monitors, his work of breath and by observing the colour of his skin. Another type of knowledge that Allison used in her patient care was ethical knowledge. Van der Zalm and Bergum determined that â€Å"ethical knowledge represents knowledge that supports us to choose and be responsible for the right action in a situation† (as cited in Bungay, 2005). An examples of when Allison used ethical knowledge in her care was when she made the ethical decision on which patient she should visit first, that being Mrs. Johnson. This is an example of ethical knowledge because since Mrs. Johnson was the newest admit, and had had a cardioversion forty-five minutes prior, she was the most unstable patient of Allison’s. Had Allison made the choice to assess her other patient’s first it would have not been the re... ...to her about how they were feeling regarding their hospitalization. Finally, the effects of the immediate environment play a role in the interactions between a nurse and then patient. Being in the hospital, there are many foreign sounds such as call bell and codes going on all the time. Although Allison may have use to the loud noises on the ward, for the patients, this is new to them. This could have played a factor in Mr. Nelson’s inability to sleep, which altered his mood. Being in a new environment, especially a hospital can be unnerving for patients taking them out of their comfort zones. References Bungay, V. (2005). Module 1 High Acuity Nursing Practice [PDF document]. J.L. Dehaan, 2012, (Ed.). British Columbia Institute of Technology, School of Health Sciences. Retrieved from https://learn.bcit.ca/d2l/le/content/188743/viewContent/1059245/View

Alexander Hamilton’s First Federalist Paper -- Federalist Papers

Alexander Hamilton’s First Federalist Paper Alexander Hamilton’s first Federalist Paper endorses ratification of the proposed constitution. His unifying point is that the use of reason—in the form of the people’s "reflection and choice"—will lead to the truth, whereas their use of passion will lead to ruin. Hamilton attempts to persuade his readers to make the correct decision by reminding them of the sheer importance of the matter. He suggests that "good men" will want to make the correct choice in light of their "true interests" (33), while the adversaries of the Constitution will be ruled by passions, deceit, and even weak minds. He frankly warns his readers against "any impressions other than those which may result from the evidence of truth" (35); he offers them a chance to join him on the right side of the issue, which he implies he has arrived at by knowledgeable deliberation. Finally, Hamilton courts his audience by implying that they will use reason to reach the truth. By contrast, the oppo nents of the Constitution rely on their emotions and follow a "much more certain road to the introduction of despotism" (35). In the first paragraph, Hamilton introduces the idea of truth—not in passing, but by asking whether "good government from reflection and choice" is at all possible (33). He indicates that the decision is of greater importance than just one country; the wrong decision would "deserve to be considered as the general misfortune of mankind" (33). By broadening the implications of the question at hand, depicting it as "of the first magnitude to society" (34), and describing the Constitution as "the safest course for your liberty, your dignity, and your happiness" (36) and "favorable to the discovery of truth" ... ... is a compliment to his readers’ minds. He uses words like "consideration," "frankly acknowledge to you," and "I propose" (36) to illustrate the rationalism he expects to share with them. Hamilton uses imagery and rhetorical language effectively in order to discredit his adversaries in the eyes of the people. His main tool is a rationalistic "truth" which he detaches from his opponents and associates with himself. He also portrays "truth" religiously, and connects the Constitution and its supporters with the highest cause. Hamilton passionately defends and elevates the people’s use of reason. But he equally passionately believes that the people’s reason is admirable only when it leads to the conclusion that the United States needs a strong, vigorous, central government. Source Cited The Federalist Papers, ed. Clinton Rossiter New York: Penguin Books, 1961

Motivation in the Play Essay

Villains and why they do their villainy is always justified or explained in any literary work. Even those childhood fairy tales with the villain’s formulaic and predictable evil deeds will always do things that have a purpose or will do those things because they were compelled to do it caused by a negative feeling: jealousy, revenge, envy, greed, a childhood without someone to love them or support them, etc. William Shakespeare’s plays are not an exemption to this case as he even creates characters that are capable of not only of evil; they embody evil in their totality as a person—if you may call them that. An example of this would be Iago, touted as the most villainous of all villains in the literary world because of the simple reason that he was guiltless, conscienceless and definitely purposeless in his strategic deeds that destroyed Othello and the people close to the tragic hero. This analysis will focus on this villain and scrutinize his character, villainy and most of all, his purpose (or the lack thereof) on why he did the things he has done that aimlessly ended to other people’s lives. In fact, there is already an answer to this query for Iago is just plain evil, nothing less and definitely more. His motivation lies in the fact that he wants to end other people’s happiness and takes simple delight in causing other people pain and grief which makes him not just a villain but a very mysterious and most terrifying one. In Othello, the Moor of Venice, a man’s capacity to do evil is magnified as Iago is overcome with rage as Othello gives a position to another less qualified man that was originally intended for Iago. Iago takes this in deep and plots against Othello, a Moor in Venice that holds such high position, influential power and great riches. Iago uses jealousy to destroy Othello and the people around him by making it appear that Othello’s loyal wife, Desdemona, is having an affair with another man. In rage, Othello kills his own wife and when he realizes that it was all Iago’s evil plan, he kills himself out of grief and guilt. Iago confesses to no one and does not explain his actions; instead, he keeps mum about what he has done and the purpose in them. Thus, as the play concludes, it is only the audience who are witnesses to Iago’s malice and the extent of his wickedness—but there is a possibility that Iago also leads the audience into believing that they know the entire truth when in fact, he has been dishonest the whole time to everyone—even that of the audience. Iago acts as the villain in the play even if he was not really the one who did the bad deeds. He is the sole villain because he was the master plotter in the whole thing that even innocent people like Roderigo and Emilia were implicated as bad people when they were not wholly that capable of evil. Roderigo and Emilia were simply pawns to his plans and he used them and easily discarded them. In the book of Dobbs & Wells entitled The Oxford Companion to Shakespeare, they sum up the villainy of Iago (and pretty much, the entire play) in a few words: He skilfully convinces Othello that his wife Desdemona has been adulterous with Cassio. He wounds Cassio, murders Roderigo, whom he has involved in his plots, and also kills his own wife Emilia. (211) The extent of Iago’s villainy does not merely end in his acts and plans but in an entirely different context and case because his villainy was unjustified and unexplainable. He did not have a purpose and an aim in ruining Othello’s life and soul. For even if it seems that Iago was motivated by the anger he felt over Othello’s passing over the position that was rightfully his to another man that was very much unqualified (according to Iago that is), it still seems not enough motive. In the first part of the play (act I, scene i), Iago insists that he does hate Othello and does a lengthy monologue on why he hates the Moor. However, it can be later learned that maybe Iago was not really motivated by that trivial act done by Othello since Iago has never really revealed the real reason on why he hates Othello. This is because in the same act, he declares that he will never say what he feels and thinks because it is dangerous and it is laughable: For when my outward action doth demonstrate / The native act and figure of my heart In compliment extern, ’tis not long after / But I will wear my heart upon my sleeve For daws to peck at. I am not what I am. (Shakespeare 1. 1. 63-7) His supposed reason on hating Othello may not be his true reason for the vendetta he so chillingly instills on the Moor because Iago will never disclose his real reasons. Thus, even though Iago was transparent with his feelings and thoughts to the audience and some characters like Roderigo and Emilia, he actually lied to everyone since he could never â€Å"wear his heart† on his sleeve. Moreover, even if the rage he felt over Othello’s actions propelled him to do/plan such things, it was not enough to completely destroy the life of one man and the lives around that man. To think that Iago even killed his own wife with his own hands—without a second thought on doing it or a guilt overcoming afterwards. As what Dobbs & Wells wrote, Iago was a â€Å"motiveless evil† and that lack of motivation in him makes him a superior proponent of evil (211). In conclusion, Iago is most villainous not just because of the things he has done but also because of the lack of motivation in them, the absence of purpose, the incapacity to be guilty over the success of his evil plans and most of all, the mockery he throws to the characters and the audience at the end of the play with his silence. This silence is eerie as it has a purpose—to make everyone shiver at what other havoc and damnation he could have done with that evil mind of his. Works Cited Dobson, Michael and Wells, Stanley. â€Å"Iago†. The Oxford Companion to Shakespeare. New York: Oxford University Press, Inc. , 2001. 211. Shakespeare, William. â€Å"Othello, the Moor of Venice†. Ed. Russ McDonald. New York: Penguin Group, 2001. Print.

Early Civilizations

Early Civilizations HUMA215-1205A-32 Topics in Cultural Studies Unit 1 Discussion Board Shannon Sullivan There were many different forces that have contributed to the cultural makeup of early civilization. The beginning of human culture predates back to thousands of years which can be seen through evidence that has been discovered. This evidence that was left behind by the earliest of humans is found by cave paintings that helped to understand how these prehistoric individuals lived and survived in their everyday life.One aspect that contributed to the cultural makeup is from geographical areas from where these early humans lived. The geographical region determined what their main focus was when it came to agriculture, hunting, trade and religion. The availability of these natural resources would affect the kinds of houses they lived in, the types of weapons and tools they used, the food they ate and the type of containers they used to store food and supplies (Trigger, 2003). A numbe r of social issues occurred because of this cultural makeup. These issues were the cause of war and conflicts between many of these early humans.One of the factors that caused social problems was a result of different spiritual and religious beliefs. Others factors were political, economic and the development of one’s social class. Since early civilization started, humans lived successfully in small hunting and gathering tribes. This was the dominant way of life until agriculture began to gradually replace hunting and gathering of necessities such as food, clothing and homes which was some of the main cultural influences on early civilizations (All World History for Us, n. d. ). Revisionist history can be bad.The problem with revisionist history is that it usually is written by someone who has a curriculum that they want to publicize. Most of this comes from inaccurate information from an unbiased viewpoint. Their minds tend to be made up prior to looking at the facts. This r esults in choosing facts that support their viewpoint and ignoring facts that disprove their predetermined ideas. Another problem with revisionist history is that it tends to judge people, cultures and experiences in the past by the values, ethics and morals of today's society.People in the past lived with the knowledge, superstitions, values and ethics of their day and should be studied to find the correct information. The only good thing about revisionist history is when the correct information has been given. All World History for Us. (n. d. ). Farming and the Emergence of Complex Societies. Retrieved from http://worldhistoryforusall. sdsu. edu/eras/era3. php Trigger, B. G. (2003). Understanding Early Cilivizations. Retrieved from http://catdir. loc. gov/catdir/samples/cam034/2002074052. pdf

Research: Oxygen and Carbon Dioxide Essay

I walk into my first period class at 9:29 right before the 9:30 bell rings for class to begin. My science teacher, Mr. Sherman, has to make an announcement to the class. He says, â€Å"I am assigning a five paragraph essay due at the end of the week about photosynthesis and cellular respiration. † I thought to myself, how am I going to write a five paragraph essay on photosynthesis and cellular respiration? But then again, all it takes is some research. To begin with, the process of photosynthesis starts with Carbon Dioxide, Water, and Sunlight. The Carbon Dioxide, Water, and Sunlight starts of by going in to the plant and makes its way through the plant and out. Its job is to convert sunlight energy into chemical energy. As the cycle is ending glucose (sugar), and oxygen come out of the plant and transfers into cellular respiration. This all takes place mainly in the leaves of the plant. Obviously, the photosynthesis cycle isn’t that complicated. Secondly, cellular respiration is the process when the glucose and oxygen that comes out of a plant then transfers into either a plant or animal cell. It allows organisms to use energy stored in the chemical bonds or glucose. The energy in glucose is used to produce ATP energy. Cells use ATP to supply their energy needs. Cellular respiration is therefore a process in which the energy in glucose is transferred into ATP energy. In addition, during the process of photosynthesis the carbon dioxide goes through the leaves and the water goes in the roots of the plant. The sunlight then hits the plant so that the carbon dioxide and water mix with the sunlight in side of the chloroplast where the light is trapped. The mixture then gives off a substance called glucose (sugar) and also oxygen. Then the glucose and oxygen transfer to a plant or animal cell . This is called cellular respiration which is when the chemical energy of â€Å"food† molecules is released and partially captured in the form of ATP. Carbohydrates, fats, and proteins can all be used as fuels in cellular respiration. At the end of the cycle carbon dioxide and water is produced, then sunlight is added and put back through the process of photosynthesis. To conclude, by the end of the week it was time to finally turn in my essay. It only took a slight amount of research to come up with a five paragraph essay. Before, I thought I would never be able to wright it, but I proved myself wrong and I happily turned in my essay. As an overview, carbon dioxide, water, and sunlight are mixed and go inside a plant and glucose and water comes out. Then, the glucose and water goes in either a plant or animal cell and ATP energy is created and what comes out is carbon dioxide and water and then the cycle begins all over again.

The Global Financial Crisis and the Imf

Table of Contents 1. 0 Objectives2 2. 0 Introduction2 3. 0 Types of Financial Crisis2 3. 0. 1 Banking Crisis2 3. 0. 2 Speculative Bubble3 3. 0. 3 International Crisis3 4. 0 Causes of the Financial Crisis 2007-20083 4. 0. 1 Loose Monetary Policy. 3 4. 0. 2 Global Imbalances. 4 4. 0. 3 Credit Boom. 5 4. 0. 4 Asset Bubble. 5 4. 0. 5 Financial Innovation5 5. 0 Impact of Financial Crisis6 5. 0. 1 Impact to U. S Financial System. 6 5. 0. 2 Economic Growth Rates. 6 5. 0. 3 Personal Finances of US Citizens. 7 5. 0. 4 High Unemployment Rate. 5. 0. 5 Impact on the IMF9 6. 0 Policy Response9 6. 0. 1 Term Auction Facility (TAF). 9 6. 0. 2 Economic Stimulus Act 2008. 10 6. 0. 3 Initial Cuts in Interest Rate. 11 7. 0 IMF Response to the Crisis12 8. 0 Conclusion14 9. 0 References15 1. 0 Objectives Objective of this topic is to giving a scope about the recent global financial crisis 2007 which discussing about the causes and impacts of the crisis and focusing mainly in the United States. Then, it wi ll focus on the policy response of the country towards the crisis.Role of the International Monetary Fund (IMF) is also given attention to understand how it works as the ‘international lender of last resort’. 2. 0 Introduction Financial institutions which play an important role in the economy, act as intermediaries between borrowers and lenders. Channelling of funds to individuals or firm that have bright investment opportunities takes place in the financial markets. Without financial intermediaries, it is difficult for companies to operate business. The economy also cannot operate efficiently if the financial system does not perform the role well.Systematic risk is a risk that could be failures of financial institution that freezing up capital market and eventually reduces the supply of capital to the economy. The United States experienced this systematic failure during 2007 and continues to struggle its consequences until 2009. Financial crisis occur when an economic encounter recession or depression caused by lack of liquidity in financial institution. In this circumstances, financial institutions lose huge part of their value. Financial crisis is not the same as economic crisis which affect the entire economy.A financial crisis can occur in a single sector and not always affect other sectors. The causes of financial crisis are different with the type of crisis. The financial crisis 2007-2008 started in August 2007 as a subprime mortgage crisis concentrated in the United States. The crisis became global but originally started in the financial sector of the United States and soon became global economic crisis. Mostly economies in the world were affected by this crisis because the United States economy can be thought as powerful economy in the world. 3. 0 Types of Financial Crisis . 0. 1 Banking Crisis Banks normally function by providing deposit accounts to people who want to make savings and it can be withdraw anytime. The banks then use these deposits to make loans and charge interest to borrower which are paid over a long period of time. If all the depositors want to withdraw money at one time, the banks will face lack of cash flow and will be bankrupt. This situation is called banking crisis. 3. 0. 2 Speculative Bubble Some people buy stock by speculating the price, hoping that price of the stock will increase in the future.Therefore, if most investor buy stock speculatively, chances that the stock price will increase are be very high. When all the investors want to sell at the same time, then the price will likely to fall. When price of a stock is more than its current price plus dividends and interest, then the stock is said to show a bubble. 3. 0. 3 International Crisis This crisis occurs when a country is forced to devalue its currency. This can happen either because of speculative attack or a country is default in paying its debt. When this occurs, all countries that were trading with this country will be affected .Investors also will lose the value of their investment because the currency has been devalued to lower rate. 4. 0 Causes of the Financial Crisis 2007-2008 4. 0. 1 Loose Monetary Policy. Monetary policy implemented by the Federal Reserve plays an important role in determining the interest rate. It is believed that loose or weak monetary policy implemented by the U. S Federal Reserve is among the cause to the crisis. After the internet or dotcom bubble in 2000, loose monetary policy is applied by the U. S Federal Reserve. The federal funds rate dropped from 5. 8% in January 2001 to 1. 73% in January 2002 and remained low for several years as shown in chart 1. This policy thus encourage U. S consumption, reduced savings and created high current account deficit. The Federal Reserve had made mistake by its decision to keep the federal funds rate too low for too long. The policy therefore responsible for creating the credit boom and housing bubble. In other words, with a low federal fund s target, banks take advantage on cheap funding and made cheap loans available. From year 2000 to 2006, total debt outstanding for the U.S has increased by $13. 5 trillion. The debt to GDP ratio is increased to 350%. This high level of debt made firms and households more exposed to adverse economic shock. Other than that, the Federal Reserve and regulators made mistake in the failure to control the poor underwriting standards in the mortgage markets. The poor underwriting practices can be seen through no down payments, no verification of income, asset and occupation by borrowers. Credit that was widely available suggested poorer loan quality. Chart 1: Loose monetary policy Source: Adapted from The EconomistChart 1 shows that the actual interest rate fell below the Taylor rule, that is the interest rate what historical experience suggest policy should be adapted. The line slopped downward to 1 percent in 2003 to 2004 and then rises until 2006. The Taylor rule line shows what interest rate would have be if the Fed followed the policy that worked well since the early 1980. 4. 0. 2 Global Imbalances. The recent financial crisis happens when there is much liquidity in world capital markets. It is due to the large payment imbalances between the main countries and regions in the world economy.Global imbalances occur when there is huge and continuing current account deficit in the United States. The current account deficit is financed by plenty of flows of capital from emerging and oil exporting countries. As the consequences, the global imbalances encourage financial activity that would not be effective in long time without the development of deep global financial markets. High levels of global liquidity happens when countries such as China built up current account surpluses and foreign exchange reserves, maintaining artificially low exchange rates and a positive saving investment balance.Because of this liquidity level, global real interest rates fell which contribu ted to credit expansion and rising asset prices that drives to the crisis. 4. 0. 3 Credit Boom. Credit boom happens when banks and mortgage brokers encouraged mortgage sales because they earned fees in proportion to the volume of mortgages they wrote. Banks earned large fees by securitizing mortgages, selling them to capital markets in forms of mortgage backed securities (MBS) and collateral debt obligations (CDO). Since banks distributed these mortgages to capital markets as asset backed securities, it has low risk upon the process.Compared to corporate bonds that had low interest rate during the time, these complex and risky products is highly demanded by institutional investors such as hedge fund and insurance companies. Mortgage sales expanded even to those who could not afford them as the banks only focused on earned large fees. When the housing price bubble evaporated or interest rates rose it turned out to be large defaults. Home sales peaked in late 2005 meanwhile home const ruction spending and housing prices decline in early 2006. When the subprime mortgage crisis started in 2007, the entire market began to collapse.The crisis began in the United States, but because the mortgage based financial products has been spread around the world it soon became global financial crisis. 4. 0. 4 Asset Bubble. Another factor to the financial crisis is an asset bubble that leads to unsustainable leverage. Before the start of the crisis, the U. S government implemented a public policy that encourages homeownership. Because of low interest rate, it has led to mortgage lending and households were encouraged by the banks to borrow causing asset (house) price to increase.The borrowing is allowed up to the full value of their property with little regard to their ability to service the debt. Borrowing is encouraged because of the low interest rate made by monetary policy makers. The demand for housing is related to money market interest rates. Thus, the accommodative polic y conducted by the Federal Reserve contributed to the build up of housing demand and asset prices. The term sub-prime mortgage come when lending activities is also approved to people who did not meet the credit requirements that may default to payments. 4. 0. 5 Financial Innovation.Usually, banks and other agents innovate to avoid regulation and boost returns by taking greater risks. When asset prices increase more rapidly, innovation also accelerates as expected gains grow larger. The main innovation is the process of securitization. This complex ‘securitized’ pools of loans promising high returns with low risk. Thus, in the United States, ballooning mortgage loans to riskier borrowers provided the basis for an ever-larger inverted pyramid of structured products. As the housing prices increasing, lenders provide mortgage lending easily.However the mortgage were securitised, that is repackaged and sold as financial instruments to investors for immediate cash. This led t o excessive and irresponsible mortgage lending. The institutions that originated the mortgages such as commercial banks, savings and loans eventually did not holding the mortgages because it has been sold to investors by the investment banks. This innovation has caused massive distortions in incentives and risk management in the financial organizations. It was an instrumental in strengthen the increase in leverage.Starting in 2003, banks involve rapidly in financing activities, investments and hedging operations that hard to assess risks. When asset prices began to fall, financial organization brought down together and spread panic among investors worldwide. This development has caused massive distortions in incentives and risk management arrangements within financial organizations. 5. 0 Impact of Financial Crisis 5. 0. 1 Impact to U. S Financial System. The U. S government has closed 22 banks including Lehman Brothers, Washington Mutual and Indymac.Other than that, it has rescued F reddie Mac, Fannie Mae, Bear Stearns and created a bailout fund around $700 billion to purchase stakes in effected banks. This step is taken in order to restore confidence in the financial markets. However, this $700 billion Troubled Asset Relief Programme (TARP) failed to restore market confidence. Nearly $8. 5 trillion or around 60% of its gross domestic product has been committed by the U. S government to prevent the collapse of its financial system. 5. 0. 2 Economic Growth Rates. The effect of 2007 crisis can be seen clearly on the downturn economic growth globally.As shown in Figure 1, countries in the world are experiencing a downturn in economic activity as the effect of financial crisis. These declines in economic activity have been followed by losses of trillions of dollars in equity markets and a credit squeeze that are affecting households and businesses worldwide. Financing activities such as world trade and oil exploration has been slow during the time of crisis. As sho wn in chart 2 below, real growth rate measured by GDP across the world has been decreased. Real growth rate in reported by the World Bank is 3. 9% in 2007 dropped to 1. 3% in 2008.As the crisis became worsen, economic growth dropped much lower rate to -2. 2% in 2009. The U. S economy has a large proportion in world economy therefore it has slightly similar trend in the growth rate. The U. S real growth rate in 2007 is 1. 9% dropped to -0. 4% and -3. 5% in 2008 and 2009 respectively. Chart 2: GDP – real growth rate (%) Source: Adapted from World Bank data 5. 0. 3 Personal Finances of US Citizens. People have struggled to repay their debts as the direct consequences of the financial practices that produced the crisis. The value of house dropped dramatically for individuals who owned house before the crisis broke out.This caused some people repaying mortgages that are worth more than the current value of their house. Eventually, many people ended up losing the house that they bo ught in years before the crisis broke out. There were high rates of foreclosure in some area of the United States as borrowers cannot repay the loans. Other than that, individuals in the US also suffered from the loss of growth and income that their savings and investments would have produced. This is because interest rates for savings have dropped sharply. Investors and companies experiencing losses as the stock in many companies dropping rapidly.Retirement plans that are usually based on mutual funds and performance of the stock market results not as they had planned as the stock market crashed. They may need to work longer or retirement plans is less than expected before. Moreover, it has become more difficult to borrow money. While expensive loan services have been expanded, people find it hard to obtain low cost loans or credit cards. 5. 0. 4 High Unemployment Rate. The US gross domestic product which is the total amount of goods and services produced by the country was reduced as the effect of the crisis.Companies in the country struggled to cope with the crisis, however lots of people have lost their jobs. Based on chart 3, the uneployment rate grew from 4. 7% in 2006 to 10% in 2010 which was the highest rate in the last few decades. In addition to lose income, unemployment made it worse for many people because it has become difficult to find new job. Many companies are not willing to hire new employer and even a fresh graduates have to compete to find employment. This become a serious problem for many young citizens in the country. Chart 3: Unemployment rate in the US Source:Adapted from U.S. Bureau of Labor Statistics 5. 0. 5 Impact on the IMF The damage caused by the financial crisis is a challenge for the IMF. This is because, its financial resource is not in line with the global economy over the past decade. The United States and other advanced industrial economies are at the center of the crisis. However, the IMF would not have enough resources to provide financial assistance if these countries seek for help. Therefore, the IMF resources need to be increase or the risk would become worse in the future. 6. 0 Policy Response 6. 0. 1 Term Auction Facility (TAF).The Term Auction Facility is introduced in December 2007 so that banks can borrow from the Fed easily. Thus the banks can bid directly for funds from the Fed. This is because investors are not willing to lend when afraid about the condition of many financial institutions affected by the crisis. Consequently bank funding markets were put under severe pressure. The main objective of the TAF was to reduce the spreads in the money markets and in that way increase the flow of credit and lower interest rates. As a result, the TAF helped by encouraging the distribution of liquidity when bank funding markets were under stress.The spread between the London interbank offered rate (Libor) and the overnight indexed swap (OIS) for loans of one-month maturity or longer increased to un usually high levels in the late 2007. It is believed that the increase in the Libor–OIS spread is caused by the heightened risk perceived by investors at the time. Since Libor affects interest rates on a wide variety of loans and securities (for example, home mortgages and corporate loans), the sudden spike in the spread was disruptive to the debt market and negatively affected the economy.The chart 4 and the table below also showed six announcements related to the TAF program. Chart 4: The TAF facility provided term funding through periodic auctions to eligible depository institutions. By providing term funds to banks at regularly scheduled auctions, the TAF may have assured lenders of continued access to future funding and thereby reduced their uncertainty regarding anticipated funding needs. The TAF was a facility designed by the Federal Reserve during the crisis to improve liquidity conditions in various asset markets that is crucial to improve short term funding market. . 0. 2 Economic Stimulus Act 2008. The Economic Stimulus Act 2008 is a response made by the government through several package totalling over $100 billion to individuals and families in the United States. The economic stimulus is designed to boost the U. S economy and prevent further recession. In this programme, the government provide tax rebates to low and middle income taxpayers and tax incentives to stimulate business investment. The purpose of the incentives is that the people will have more money to spend thus increase consumption and the economy.By doing so, the government would expect that it will recover the economy. However it is not as hoped because they spend little although the incentives were given. This can be shown through chart 5. The top line shows personal disposable income increased at the time of rebate. However, the lower line shows consumption did not increase as expected. Chart 5: Increase in income 6. 0. 3 Initial Cuts in Interest Rate. The third policy resp onse to the crisis is sharp reduction in the federal funds rate. When the crisis began in August 2007, the rate was 5. 25% and went down to 2% in April 2008 due to the cut.The lower interest rate then reduced the size of adjustable rate mortgage that was cause of the crisis. The most significant effect of this response is the depreciation of dollar and rise in oil price. In the early 2008, oil price increased almost two fold from $70 per barrel in 2007 to over $140 per barrel. High oil price hit the economy as gasoline price increased dramatically and automobile sales plunged. On the other side, the policy reduction in the federal funds rate that cuts interest rate helped raise oil and other commodity prices thus prolonged the crisis. Exchange rate also has influence to the rise of oil price.As shown in chart 6, reduction of the federal funds rate at top line in July 2007 drives the oil price at the bottom line upward until July 2008. Chart 6: Cut in interest rate and increase in oi l price 7. 0 IMF Response to the Crisis The main role of the IMF is to identify the risks that threaten global economic and financial stability and to develop policy responses. The IMF has a worldwide membership and its mandate is to promote economic and financial stability. It is has been provide forum for discussion of international economic issues and help to reach solution on policy responses.In response to the financial crisis, the IMF boosted their lending to developing countries to help them cope with the crisis and to sustain the economic recovery. To meet ever increasing financing needs of countries hit by the global financial crisis and help strengthen global economic and financial stability, the Fund has greatly expanding its lending capacity since the start of the global crisis. It has done so both by obtaining commitments to increase quota subscriptions of member countries and securing large temporary borrowing agreements from member countries, including recent pledges of $456 billion.Countries affected by the crisis can borrow funds from the IMF. Other than that, there is also debate about reforming the IMF. The reformation issues focus on the need to balance the traditional functions of providing short-term financial assistance and promoting external balance stability in member countries. To achieve the objective, there is a need for a wider responsibility of crisis prevention, supporting financially for countries that, although not suffering actual reserve shortage, are in danger of external shocks and liquidity runs. This measure would prevent more severe impact to member countries as the effect of financial crisis.Since year 2008, the Fund has introduced effective instruments to prevent sudden falls in investors’ trust and the eruption of liquidity crises. As a result, borrowers were able to cope with the global crisis, avoiding large scale banking crises and disruptive exchange rate movements and protecting social spending. To prevent the crisis, the IMF has lending arrangements signed by the IMF and low and middle-income countries during the crisis. These lending arrangements take part from January 2008 and June 2010. The size of the loan arranged by the IMF is larger for country that is more exposed to the crisis especially for large country.As a result this measure can prevent more severe contagion of the crisis to other countries. 8. 0 Conclusion The U. S. economy has suffered a few major shocks in recent years during the crisis. At the start, these shocks include a large declining in house prices and a spike in the prices of oil and other commodities. The decline in house prices reduced the value of mortgage backed securities. Because of leverage, this threatened the ability of many of financial institutions, including major investment banks. These shocks have combined to put the U. S. conomy and many economies throughout the world into a global financial crisis and a deep recession. It is likely the worse since the Great Depression in 1930sRegulatory failure is a main responsibility for the crisis. It is shown that weak regulatory in the financial system leaving the consumers inadequately protected. To cope with this crisis, the IMF had played an effective role. It has come out with a financial assistance by providing loan arrangements to the member countries. However, the financial crisis of 2007 therefore raises doubts in faith of the world financial system and in free enterprise.The financial system has to take appropriate measures and reform to improve the situation in the future. 9. 0 References Acharya, V. V. , Philippon, T. , Richardson, M. , & Roubini, N. (2009). The Financial Crisis of 2007-2009: Causes and Remedies. Barrell, R. , & Davis , P. E. (t. t). The Evolution of the Financial Crisis of 2007-8. National Institute of Economic and Social Research. Blundell-Wignall, A. , Atkinson, P. , & Lee , S. H. (2008). The Current Financial Crisis: Causes and Policy Issues. Financi al Market Trends OECD, 1-21. Campello, M. , Graham, J. , & Harvey, C.R. (2009). The Real Effects of Financial Constraints: Evidence from a Financial Crisis. NBER Working Paper Series. Carmassi, J. , Gros, D. , & Micossi, S. (2009). The Global Financial Crisis: Causes and Cures. Journal of Common Market Studies, 47(5), 997-996. Cecchetti, S. G. (2009). Crisis and Responses: The Federal Reserve in the Early Stages of the Financial Crisis. Journal of Economic Perspectives, 23(1), 51-75. Crotty, J. (2008). Structural Causes of the Global Finacial Crisis: A Critical Assessment of the ‘New Financial Architecture. Didapatkan dari http://scholarwork. mass. edu/econ_workingpaper Driehaus, R. H. (2010). The Crisis of 2008 and Financial Reform. Qualitative Research in Financial Markets, 2(3). doi:10. 1108/17554171011091728 Goodhart, C. A. (t. t). The Regulatory Response to the Financial Crisis. 2009. Didapatkan dari http://hdl. handle. net/10419/26302 Hellwig, M. (2008). Systematic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage financial Crisis. Ivan, P. (2008). Financial Crisis 2008. Saw Centre Financial Studies No. 5. Merrouche, O. , ; Nier, E. (2010). What Caused the global Financial Crisis? Evidence on the Drivers of Financial Imbalances 1997 – 2007. IMF Working Paper. Mishkin, F. S. (1999). Global Financial Instability: Framework, Events, Issues. The Journal of Economic Perspectives, 13(4), 3-20. Didapatkan dari http://links. jstor. org/sici? sici=0895-3309%28199923%2913%3A4%3C3%3AGFIFFEI%3E2. 0. CO%3B2-D Obstfeld, M. , ; Rogoff, K. (2009). Global Imbalances and the Financial Crisis: Products of Common Causes. Reinhart, C. M. , ; Rogoff, K. S. (2009). The Aftermath of Financial Crises. NBER Working Paper Series. Rogoff, K. (1999).International Institutions for Reducing Global Financial Instability. Journal of Economic Perspectives, 13(4), 21-42. Didapatkan dari http://links. jstor. org/sici? sici=0895-3309%28199923%2913%3A4%3C21%3AII FRGF%3E2. 0. CO%3B2-3 Sanford, J. E. , ; Weiss, M. A. (2009). The Global Financial Crisis: Increasing IMF Resources and the Role of Congress. Congressional Research Service, 1-19. Sikka, P. (2009). Financial crisis and the silence of the authors. doi:10. 1016/j. aos. 2009. 01. 004 Taylor, J. B. (t. t). The Financial Crisis and the Policy Respenses: An Empirical Analysis of What Went Wrong. 2008.

Research Report Paper Example | Topics and Well Written Essays - 5000 words

Report - Research Paper Example Critical Analysis of Work Delegation: 11 5.6. Unsuccessful Work Delegation: Reasons: 17 6. Research Methodology: 19 6.1. Sampling Technique 19 6.2. Selection of the Participants 19 6.3. Data Collection: 20 6.4. Data Analysis 20 6.5 Significance of the research: 21 6.6. Research Hypothesis: 21 7. Findings and Analysis: 23 7.1. Analysis of the Questioner (Close ended), of Work Delegators: 23 7.2. Analysis of the Questioner (Close ended) of subordinate, whom the Work is delegated: 30 7.3. Regression Analysis 36 7.4. Analysis of the Open ended Questioner: 38 8. Conclusion: 41 9. References 43 10. Questionnaire 48 11. Appendix 53 1. Introduction Organizations are having different characteristics, some are dynamic, and some of them are complex entities. A crucial aspect related to the functioning of any organization is of how successful they are in executing their missions and main objective is how effectively the top management distributes or delegate responsibilities and tasks to the sub ordinates. In any organization, a senior leader’s time is very important and it is absolutely necessary to wisely invest those times in managerial activities that she is uniquely suited to accomplish (Hughes, 2012). Almost in most of the large organizations, it is not possible or practical for a single individual to carry out all necessary activities which in turn create, sustain and grow a viable enterprise. Therefore, effective delegation is a critical leadership skill (Gazda, 2002). This reality applies to all the profit making, and governmental institutions. Moreover, the wireless revolution and development of information technology in the last 15 years have made business interaction and communications fast, continual, and seemingly less intrusive in daily living. In a time of reduced resources and increase use of automation, it is necessary for leaders to effectively delegate job responsibility to their subordinates. Broadly, delegation is the act of authorizing to act a s representative or agent for another. In broader point of view, delegation can be viewed as giving others the authority or permission to carry out an assignment or work with expected results mutually understood while maintaining the responsibility yourself. It means having sufficient faith in others to let them do important work for you (Hughes, 2012). As the business world continues to become more complex and competitive, demands on manager’s skill and time are increasing and varied. Senior leaders must empower employees and hold them more accountable. They must be able to maximize employee’s knowledge and experience to get the desired results. In a broader scenes we can say that Delegation should challenge subordinates, help the sub ordinates to learn new skills, and build their confidence to realize their full potential while allowing senior principals to focus on issues they can do best. Research further shows that delegating is even more problematic for managers when it cuts across functional areas (Ghumro, Mangi, & Soomro, 2011). It is easy to agree with the need to delegate, but very challenging to put into effective practice. Most supervisors realize they need to delegate, most think they delegate well, but few actually do so. 2. Topic: My research will focus on the effectiveness of delegation of duties in a firm; this is needed because most business managers often delegate duties to the subordinate with the aim of achieving certain goals, which often vary from one individual to the other. This is most often done

Role of securitization and structured finance products in the recent Essay

Role of securitization and structured finance products in the recent banking and financial crisis - Essay Example The paper describes the role of securitization and structured finance products in the recent banking and financial crisis. Financial institutions cater to the needs of different types of customers by providing relevant financial services. Financial institutions worldwide have been affected by the adverse market environment created by the US sub prime fiasco. Trouble began when the financial companies started relying too much on the innovation in the blind faith that it will yield returns. As it is common knowledge that banking industry has suffered the most due to the current meltdown, the symptoms of the malaise started emerging in the US mortgage business first. The cracks appeared in the banking system. Housing prices, according to Financial World started falling in the year 2005. Initial symptom appeared in the market for sub prime residential mortgage-supported securities as investment demand shrank in 2006. In February 2007, auctions to finalise rates on ARS instruments failed because of decreasing investor demand. Cracks in financial market became wide open in June 2007 with the failure to meet the lenders’ call on Collateralised Debt Obligations by two Bear Stearns hedge funds for subprime loans. ... After a reset period of two years, interest rates went higher as Fed interest rates also touched a high level, on which sub prime mortgage interests were based. Housing prices started declining sharply after the boom period. A wave of repossessions was behind this trend. Banks started taking precautionary measures, cutting back on credit to cover risks to their investments. Being forced to dry up the whole sale bond market and their balance sheets from the adverse affects, banks started shrinking their portfolio. The Pension Funds suffered the severe losses being the prime purchasers of sub prime mortgage bonds. As the banks have hidden their holdings of sub prime mortgages in off-balance sheet instruments such as â€Å"structured investment vehicles† or SIV’s, they were reluctant to bear the losses. 2. What caused the crisis? The US financial system was under observation, as reported for planning its restructuring and strengthening control but still there is no clarity on what regulatory policy change has been enforced even till June 2009. Limits on mixing of the investment with commercial banking within the financial market were put off by getting away with the Glass-Steagall Act. Investment banks were not regulated for levering up their conditions. Financial innovations promoted easy availability of credit. Loan s against mortgages were â€Å"securitised† and forwarded by associates of Lehman Brothers and other financial companies. The outcome was unhindered consumer spending and reducing household savings. (Schneider & Kirchgassner, 2009). In the US, internal policies and globalisation was responsible for the financial crisis, which was fuelled by innovative products like complex derivative securities,

Mangosteen Remedies Marketing Plan Coursework Example | Topics and Well Written Essays - 2000 words

Mangosteen Remedies Marketing Plan - Coursework Example From this paper it is clear that physicians prescribe the drugs for chronic diseases as mentioned above, which are mostly NSAIDs, to provide relief from pain. Although, they are highly effective yet they have severe side effects too. The worst part is that once patient stops consuming it, disease returns with a bang. They are only a stopgap arrangement and not a real cure in themselves. These medicines cause stomach cramps, drowsiness, diarrhea, heartburn, edema (swelling of the feet), nausea and much of the discomfort. Moreover, NSAIDs pose a risk of causing stroke, heart attacks, clotting, and kidney failure, if consumed for a longer duration. The risk is associated with the amount of dosages. No one would like to have such risks and dependency on such drugs. If choice is available for an alternative medicine; it is for sure that patient would prefer switching over to a safer drug where there are no side effects even after taking medicines for a long time. ‘Mangosteen Remedie s’ produces medicines from rind of mangosteen and using many such herbs. Mangosteen is a naturally available fruit. Its remedial potential lies in compounds called xanthones found in abundance in the rind of this fruit. Medical science has found a large group of xanthones in mangosteen. Xanthones are recognized as most potent antioxidants provided by Mother Nature. Antioxidants are the compounds that throw toxic elements out of our body and prevent oxidation of our cells. That is how it increases our immunity slowing the process of ageing and providing strength to fight back chronic diseases. Anti-inflammatory properties of xanthone make it an ideal substitute for many steroid-based drugs in the long run. (Properties of Xanthones) That is why it is found to work on asthma patients giving them relief including the patients suffering from bronchitis asthma. Mangosteen rind extract is found to work in many ailments for the above mentioned reasons. It imparts a rejuvenating effec t increasing the energy levels in humans and a good part is that it delivers a permanent cure without causing any side effects. The manufacturing operation consists of extracting xanthones from mangosteen rind and suitable preparations are made that are high in xanthone concentrations. Medicines outside of U.S FDA ‘Mangosteen Remedies’ products will be marketed in the form of dietary supplements. U.S. FDA does not offer any opinion on dietary supplements. This is to establish the fact that these medicines are beyond the purview of U.S. FDA.

Criminology Theories. A glimpse into the future Case Study

Criminology Theories. A glimpse into the future - Case Study Example . However, because of the stigma attached to the primary deviance, these same people often consciously considered a form of secondary deviance behavior that reinforced the beliefs of the same mainstream society that shunned them in the first place. It is my contention that with smoking outlawed, that the people who had been addicted to the substance before it was made illegal would have continued to smoke, but the process would have involved a number of illegal activities and hidden behaviors given the social condemnation of the act. These would include behaviors such as growing tobacco plants, harvesting and selling the substances, much in the same way marijuana is being grown and distributed in society today. It is clear that the changes mentioned in this case scenario would impact the types of laws that are of importance to society. For example it would appear that traffic offences and deaths would be substantially reduced due to the changes in transportation, and that inner urban areas would become more crowded as people moved from high population areas such as Florida for example, inland to where they were less likely to be affected by flooding.

Traumatic Gun shot wounds from 7.62mm and effect on lower limbs Essay

Traumatic Gun shot wounds from 7.62mm and effect on lower limbs - Essay Example It is then imperative that modalities in medicine be upgraded to combat man’s health opponents. Researches and studies in science have been very useful and relevant in conquering the battle against illnesses which commends the utilization of a wide range of treatment modalities from simple techniques to intricate equipments. Accidents or illnesses involving blood loss may lead to hemorrhagic shock which is life threatening. Although our body has its own mechanics in counteracting instability, a profound and in many cases, chronic illnesses may lead to exhaustion of the body’s system thus failing its purpose in maintaining equilibrium. Wound repair is the attempt of the tissues that are damaged to return to their normal activity and architectural and mechanical integrity after the damage. More often than not perfect restoration of fluid loss, prevention of infection, reinstating previously normal flow of blood and the lymphatic system is not achieved due to the necessi ty and rush to go back to and perform its function especially if the injury is severe and diffuse. Regeneration on the other hand refers to flawless restoration of the previous tissue structure without formation of a scar. While regeneration is the aim of wound healing, it only happens during embryonic growth and development and in lower forms of organisms. A fundamental concept in wound healing in humans is that all injured tissues pass with in the similar sequence of processes which are assigned into definite phases. Yet, these activities in each stage may coincide within the same time in a single wound. Every wound assumes the fundamental phase of wound repair. Acute wounds undergo the organized and well-timed process of repairing in order to attain long lasting structural and functional restoration of the tissue. Meanwhile, chronic wounds do not undergo to re-establishment of its functional integrity rather restoration is delayed in the inflammatory phase due to several causes a nd do not advance to the last phase (Townsend, et al., 2007). Hemostasis is defined as blood loss from a damaged blood vessel. In the setting of a severely injured or ruptured vessel the process of hemostasis can be accomplished by various methods: constriction of the vessels affected, organization of platelets to form a plug, creation of a blood clot with the virtue of blood coagulation, and eventually, production of fibrous tissue within the to permanently seal the gap in the blood vessel (Guyton & Hall, 2006). Each of the mechanics of hemostasis act in sequence but are also interconnected so as to promote multiple reinforcement to the area of impairment. Instantly after a trauma to a vessel, the injury to the wall of the blood vessel results to contraction of the wall which is in turn caused by reflexes, local spasms, and local platelet factors especially the thromboxane A2 which is a potent vasoconstrictor. In effect, the blood flow from this vessel is decreased. The contraction can last from a few several minutes to few hours in which the next step of forming a platelet plug can be initiated. If the injury to the vessel is very minute, the cut is usually blocked by a platelet plug instead of a blood clot. These little cuts in the blood vessels happen daily. The next hemostatic mechanism is the formation of the blood clot which starts to form within the first 15 to 20 seconds after the trauma, if the injury to th