Lawyer Essays (685 words) - Legal Professions, Legal Ethics

Lawyer Career Project P.J. Hall Pd.6 Lawyer The career I have chosen is to become a lawyer, in either a private practice or firm, or for the government. The definition of a lawyer is an advocate or advisor in society, that is as an advocate, to represent one of the opposing parties in a criminal or civil trial, and as an advisor to counsel clients as to their legal rights and suggest courses of action. But that is not all a lawyer is about. Being a lawyer takes hard work, dedication, and many years in school. Before you become a lawyer, there are many educational hills you must climb. First of all, like in most jobs, you must have a high school diploma. Then there's college. You must attend a four year college, although you may graduate in three, were as you would have to go to night school. But you're not out of the water yet. Law school is next on the agenda, which you must attend for three years. Some specific courses you may want to take to prepare for all of this include English, foreign languages, public speaking, government, philosophy, history, economics, math, and computer sciences. Now, although no prelaw major is required, the choice of the undergraduate program is very important. Other skills you will simply learn throughout high school and college, such as proficiency in writing, reading and analyzing, thinking logically, and communicating verbally. The chance of becoming a lawyer or the availability of the job is good, although not all lawyers are good ones. There were 656,000 lawyers in 1994, and three fourths of them, that's 75%, were all in private firms. The salary of a lawyer depends on a few factors. One, whether or not you work privately or in a large firm plays a big role. For example, most private lawyers start off around $37,000 a year, but in some large firms, starting salaries got as high as $80,000 per year. The top salaries are received by good lawyers in top firms reached $1 million a year. But the average lawyer in a good firm makes around $115,000 per year, which I might, add is not bad at all to say the least. The other factor is whether or not you are good at being a lawyer. The largest benefit in this career is probably the money, but a benefit can be if you handle pressure well or not, and if being a lawyer is something you really want to do. The reason for that is the demands are very high. You must be wil ling to work irregular and long hours, and be able to work well under pressure, especially when a case is being tried. But a negative aspect is that it can be very hazardous to your mental state because of all the pressure and stress you must deal with. As time goes on, and eventually by the time you can retire, your situation again can largely depend on whether you work privately or not. Either way things will get better as time goes on, but the paces will be different. For example, in a private firm, you may have a very slow start where you may have to work other jobs to keep the income steady. But in a larger firm, you will probably start out faster. Also, later in your career, you may want to become a judge, seeing that most judges were once lawyers. A plus in a private firm is that you can retire early if wanted, or you can exceed the retirement age and keep working. I personally feel that being a lawyer would be a great experience, not just because of the money, but you would get to interact with many different kinds of people. I would really enjoy this job because I like the challenge, and I perform very well under pressure. Sources: American Salaries & Wages Survey, Occupational Outlook Handbook, Dictionary of Occupational Titles, Peterson's Guide to Four Year Colleges, and a special thanks to Mr. James Ward, for letting me interview him. Legal Issues

Report on 2g Spectrum Essays

Report on 2g Spectrum Essays Report on 2g Spectrum Essay Report on 2g Spectrum Essay This is the biggest scam till now in India. The Supreme Court said that this 2G Scam is the mother of all the Scams. The 2G spectrum scam involved officials in the government of India illegally undercharging mobile telephony companies for frequency allocation licenses, which they would use to create 2G subscriptions for cell phones. The shortfall between the money collected and the money which the law mandated to be collected is 1,76,379crore rupees or USD 39 billion. The issuing of licenses occurred in 2008, but the scam came to public notice when the Indian Income Tax Department was investigating political lobbyist NiraRadia. The governments investigation and the governments reactions to the findings in the investigation were the subject of debate, as were the nature of the Indian medias reactions. The discussion around the reactions to the 2G spectrum scam became known in the media as the NiraRadia tapes controversy. A Raja ,the Ex-Minister of Communications andInformation Technology , is an Indian politician from the DMK, who sold the licences and played a key role in 2G Scam and also who knows full details regarding 2G Scam. Generally , Tele Communication companies have to take licence from Government by paying large amounts for their operations and also Government have many rules to give permission for new companies in Tele Communication. So,due to Raja , many companies got the licences very cheaply and also many new companies started their services with out eligibilitycriteria,which is illegal. Following is the information given by Comptroller and Auditor General(CAG): * On nov 11th,The Comptroller and Auditor General(CAG) announced that revenue loss for India due to Raja at Rs. . 8L Cr. CAG indicts Raja: * CAG says Raja caused Rs. 177,000crore loss to India. * Licences issued in 2008,pegged at 2001 prices. * Raja’s ministry sold spectrum to 9 companies in 2008 using faulty amp; outdated policy,causing Rs. 140,000 crore loss. * Doled out additional airwaves to existing telecos beyond what they were entitled to,causing an additional loss of nearly Rs. 37,000 crore to exchequer. * Raja gave dual l icence permits to RCOM amp; Tata tele in 2008 using old policy , causing a loss of up to Rs. 37,000 cr. Raja ignored advice of Telecom RegulatoryTRAI , Finance Ministry amp; Law Ministry on pricing airwaves at realistic amp; market-driven rates. * He ignored Prime Minister’s advice also to favouring some corporates,Raja flouted all norms. * Raja dished out pan-India airwaves for Rs. 1651 Crore despiteS tel offering Rs. 13,752croreamp; even willing to inhance this offer if the government were to receive a higher bid. * Six of the nine companies that were given licences did not fulfill the eligibility criteria , but communications ministry (Raja)did not reject their applications. The Six companies are: 1. Etisalat 2. Datacom(Videocon) 3. Unitech(which coded majority control to Norway Telenor) 4. AllianzInfratech 5. Loop Mobile 6. S Tel Criteria for working out potential loss Rates offered On the basis of Categoryby S Tel 3G auction New Licences Rs. 657525cr Rs. 102497cr Dual Technology Rs. 24591cr Rs. 37153cr Beyond contracted Quantity of 6. 2MHZ Rs. 36729cr Total Rs. 0316cr Rs. 176379cr WEB Of Allegations: * CAG says telecom ministry had flouted every canon of financial propriety,rules and procedures. * Raja issued licences to ineligible applicants:85 of 122 licences issued in 2008 were illegal as these cos had disclosed incomplete information , submitted fictitious documents and used fraudulent means to get permits. * Allianz Infratech ,Datacom(Videocon), Unitech(Telenor), S Tel, Loop Mobile and Etisalat were not eligible for mobile prmits. * Swan Telecom appeared to act as a ‘front company’ on behalf of Anil Ambhani-led Reliance Telecom. Profit list for spectrum changed in Punjab amp; Maharashtra to favour Swan. * Telecom ministry gave undue benefits to RC OM amp; Swan. Spectrum of Controversies: Spectrum Scam: * Amount paid by new Telecos for a pan-India licence in 2008: Rs. 1,651crore. * Estimated loss to exchequer on selling licences cheap:Rs. 140,000crore. Easy Money: * Swan Telecom taken the licence for Rs. 1537 crore and sold 45% stake to UAE’s Etisalat for $900m(Rs. 4200 cr). * Unitech taken licence for Rs. 1661 crore and sold 60. 00% to Norway’s Telenor for $1. 1 billion(Rs. 6200 cr). S Tel sold 49% to Bahrain’s Batelco for about $225m. * On nov 14th Raja quit as congress refuses to relent and KapilSibal taken the charge. Actions Taken By The Government To Prevent The 2G Scam: * Enforcement Directorate(ED) has writeen to countries from where money was received by Indian firms for details on investors amp; source of funds. * It is also examing role of prominent corporate lobbyist who is alleged to have player a role in influencing the way the permits were awarded to new companies. * Opposition (BJP)to press for Joint Parliamentary Committee probe. Janata Party President SubramaniamSwamy filed a complaint in Supreme Court on Raja. So, the issue is in SC. * The Telecom Regulatory has asked the Government to cancel 62 of the 122 licences issued by former Telecom Minister A Raja. * The CAG in its report said 85 of 122 licences given to six companies , notably Uninor,Videocon,LoopMobile,STel,Etisalat and AllinzInfratech were illegal as these firms were not eligible to obtain them. * ED quizzes NiiraRadia,who is a lobbyist amp; owner of Vaishnavi Corporate Communications that handles PR for of all Tata companies for role in 2G Scam for 7hours. Supreme Court given the case to CBI for investigation. * CBI raids Raja across the Spectrum. * CBI searches Raja houses in Delhi,Chennai. * SC questions Rs. 10,000cr loa ns to new licences. * Court asked CBI to examine the feasibility of probing the allocation of radio spectrum since 2001,when BJP-Led NDA Government was in power. * Judges appealed to be critical of a decision by SBI to lend Rs. 2500 cr to Uninor. * CBI told to court that they will complete the investigation in 3 months,later they told they need 6 months time. Some Of The Other Actions To Prevent 2G Scam: * The proceedings of the parliamentary committees should be made available to the media and public,so that people can understand the issue clearly. * The Government must take the serious and severe decisions especially in these type of scams,so that no one tries to cheat. * Government has to prove itself by arresting the illegal persons,whether they are anybody. * Both media and the general public must create an awareness that the government is a trustee of public money and assets and the people are the real owners. Media has played an important role in curving a public opinion . So,alert citizen and conscientious media. * Creating fast track prosecution. Finally†¦. Main issues in 2G Spectrum Scam: * 2G licences at throwaway prices * Rules bent,no procedures followed. Cut-off date advanced * No auction,no bids. First-come-first-served. * Swan Telecom licence:Rs. 1537 crore Sold 45% stake:Rs. 4200crore * Mobile subscriber base: 2001:4 million 2008:350 million * Unitech Wireless licence:Rs. 1661 crore Sold 60% stake:Rs. 6200crore * Revenue Loss:1. 8L Crore Licences issued in 2008,pegged at 2001 prices. * Law Ministry,FinanceMinistry,TRAI and PM’s advice ignored. * Government Revenue: 2G:Rs. 10772crore 3G:RS. 1 Lakh crore Souces: Economic Times Ndtv. com Wikipedia. com Rediff. com Report on 2G Spectrum Scam Submitted by: Dileep Madhur

Narration Essay Example | Topics and Well Written Essays - 250 words

Narration - Essay Example My mom approached me with very enticing words meant to lull me to remain behind as she accompanies dad and my brother Tim for the historic visit. I was swift to realize where she was ended and immediately burst into anger, shouting, â€Å"no, no, no this cannot happen!† My mother never looked amused behaving as if she had expected the response. Tim and dad could hear me from the living room but they seemed unmoved. I had many questions for them but according to mom’s reaction, it seemed rhetorical questions. I dashed into the living room leaving my mum in my bedroom, ready to confront dad for the decision. Seeing me from a distance Tim smiled but I never failed to frown my face. Realizing the anger and disappointment in my face, dad was concerned but tried to calm me down. Immediately, mum came to the living room behind me, I was so mad at them that they regretted having made the decision to overlook me for the trip. After confronting them, they decided that it was their opportunity to explain why they had to make the decision. However, their arguments lacked synchrony and they could even contradict each other. I was left behind as they went for the trip, a time that I took time to console myself and promised myself that I will not expose my own children to such an unjust act. I also took time to forgive them, they were shocked on coming back that they found a jolly child that they had not experienced

School Violence Essay Example | Topics and Well Written Essays - 2250 words

School Violence - Essay Example Furthermore, there are many factors which can lead to integration within a gang, making it difficult to predict or prevent (Winfree Jr., Fuller, Vigil & Mays, 1992). For many people, time within a gang constitutes an important part of their life, however, a large number also successfully leave a gang (Pyrooz & Decker, 2011). It is important to understand the culture of gangs to help find ways of preventing youths from entering gangs, or helping them to successfully exit. One important study that has focused on delinquency in adolescents is the Rochester Youth Development Study. This research is critically important, because it considers the behavior of youth, as well as the causes and consequences of this behavior over a long period of time. The research first started in 1986, and followed a sample of 1,000 adolescent juveniles from the 7th and 8th grades in public schools within Rochester New York, through to their early adulthood. In this study, gang membership was present in a third of the sample group, yet it was responsible for 86% of serious acts of delinquency as well as 70% of sales of drugs that occurred within the group. Those who were gang members committed violent offensives more often when they were actively part of the gang than either before joining or after leaving. The authors examined violent behavior taking into account all other potentially confounding factors, including prior violence, and poverty, and still found a significant association between being active in a gang and violence. The authors argued that this result suggested that the norms of behavior within the gang, as well as group dynamics, strongly contributed to the prevalence of violence and delinquency (Thornberry, Krohn, Lizotte & Smith, 1998). This article focused on examining the behavior of adolescents across time without any selection for gang activity. Because of this, the sample size and the duration of the study, it

Compare and Contrast the Concepts of Durkheims Social Facts With Essay

Compare and Contrast the Concepts of Durkheims Social Facts With Webers Bureaucracy - Essay Example Weber’s views were different, he firmly opposed the idea â€Å"that history had some ultimate end, and seriously doubted the possibility of human liberation through a socialist revolution† (Hughes et al, 2003: 55). According to him, the organisational form of rationalisation is that of the Bureaucracy, and this too contributed greatly to the meaninglessness of modern life, with the individual becoming increasingly insignificant within the vast administrative structures. Weber perceived Bureaucracy as an â€Å"iron cage† resulting from industrialism, stifling unique human qualities in both socialist and capitalist societies. The two scholars differed in their purpose and approach to sociology. Durkheim extended the study of science to the study of social facts, whereas Weber attempted to provide existing social studies with a better foundation. Hence, Durkheim consistently expressed his belief that social facts had distinctive properties which must be recognized in order to make the study of society more scientific. On the other hand, Weber did not pioneer a new field, his work treated old themes and known materials with a new precision and from the standpoint of new questions. Durkheim’s and Weber’s different definitions of â€Å"social facts† and their divergent sociological studies of religion reveal the differences in their perspectives (Bendix, 1989). Similarities in the work of the two social scientists include the fact that both Durkheim and Weber refer to ways of anthropomorphising society, that is, they provide a human form to society. In their individual ways, they emphasise the knowledge that both Social Facts and Bureaucracy theories respectively, dominate lives and therefore society is seen as a living thing, as seen in the following comparison: Durkheim (1982) stressed that social facts cannot be defined by their universality, there may be different and distinctive manifestations. They are general

Direct Effects of Financial Repression in India

Direct Effects of Financial Repression in India FINANCIAL REPRESSION (PAPER 7) Financial repression refers to the notion that a set of government regulations, laws, and other non-market restrictions prevent the financial intermediaries of an economy from functioning at their full capacity (McKinnon (1973) and Shaw (1973)PAPER 1). Generally, financial repression consists of three elements. First, the banking system is forced to hold government bonds and money through the imposition of high reserve and liquidity ratio requirements. This allows the government to finance budget deficits at a low or zero cost. Second, given that government revenue cannot be extracted that easily from private securities, the development of private bond and equity markets is discouraged. Finally, the banking system is characterized by interest rate ceilings to prevent competition with public sector fund raising from the private sector and to encourage low-cost investment (PAPER 1). The policies that cause financial repression include interest rate ceilings, liquidity ratio requirements, high bank reserve requirements, capital controls and restrictions on market entry into the financial sector, credit ceilings or restrictions on directions of credit allocation, and government ownership or domination of banks (PAPER 7). Economists have commonly argued that financial repression prevents the efficient allocation of capital and thereby impairs economic growth. While theoretically an economy with an efficient financial system can achieve growth and development through efficient capital allocation, McKinnon and Shaw argue that historically, many countries, including developed ones but especially developing ones, have restricted competition in the financial sector with government interventions and regulations. According to their argument, a repressed financial sector discourages both saving and investment because the rates of return are lower than what could be obtained in a competitive market. In such a system, financial intermediaries do not function at their full capacity and fail to channel saving into investment efficiently, thereby impeding the development of the overall economic system (PAPER 7). This paper aims to analyse the concept of financial repression and reasons why it is seen and detrimental to economic growthexplain sections below. Rationale for and types of financial repression The key reason for the government to implement financially repressive policies is to control fiscal resources. By having a direct control over the financial system, the government can funnel funds to itself without going through legislative procedures and more cheaply than it could when it resorts to market financing. More specifically, by restricting the behaviour of existing and potential participants of the financial markets, the government can create monopoly or captivate rents for the existing banks and also tax some of these rents so as to finance its overall budget. Existing banks may try to collude with each other and to interrupt possible liberalization policies as long as they are guaranteed their collective monopoly position in the domestic market. In some countries, governments require banks to meet high rates of the reserve ratios, and use the reserves as a method to generate revenues. Since reserves earn no interest, they function as an implicit tax on banks and restrict banks from allocating a certain portion of their portfolios to productive investments and loans. If high reserve requirements are combined with interest ceilings and protective government directives for certain borrowers, savers who are usually unaware of the requirement policy become the main taxpayers because they face reduced rates of interest on their savings. Inflation can aggravate the reserve tax because it reduces the real rates of interest. Thus, high reserves requirements make the best use of the governments monopolistic power to generate seigniorage revenue as well as to regulate reserve requirements. A variant of this policy includes required liquidity ratios; that is when banks are required to allocate a certain fraction of their deposits to holding government securities that usually yield a return lower than could be obtained in the market. Governments often impose a ceiling on the interest rate banks can offer to depositors. Interest ceilings function in the same way as price controls, and thereby provide banks with economic rents. Like high required reserve ratios, those rents benefit incumbent banks and provide tax sources for the government, paid for by savers and by borrowers or would-be-borrowers. The rents borne by the interest ceiling reduce the number of loans available in the market thereby discouraging both saving and investment. In return for allowing incumbent banks to reap rents, the government often require banks to make subsidized loans to certain borrowers for the purpose of implementing industrial policy (or simply achieving political goals). Interest ceilings in high inflation countries can victimize savers because high inflation can make the real interest rates of return negative. Financial repression also takes the form of government directives for banks to allocate credit at subsidized rates to specific firms and industries to implement industrial policy. Forcing banks to allocate credit to industries that are perceived to be strategically important for industrial policy ensures stable provision of capital rather than leaving it to decisions of disinterested banks or to efficient securities markets. It is also more cost effective than going through the public sectors budgetary process. Government directives and guidance sometimes include detailed orders and instructions on managerial issues of financial institutions to ensure that their behaviour and business is in line with industrial policy or other government policies. The Japanese Ministry of Finance (MOF) is a typical example of governments micromanagement of financial industry. Capital controls are restrictions on the inflows and outflows of capital and are also financially repressive policies. Despite their virtues, the use of capital controls can involve costs. Because of their uncompetitive nature, capital controls increases the cost of capital by creating financial autarky; limits both domestic and foreign investors ability to diversify portfolios; and helps inefficient financial institutions survive. Impacts of Financial Repression Because financial repression leads to inefficient allocation of capital, high costs of financial intermediation, and lower rates of return to savers, it is theoretically clear that financial repression inhibits growth (Roubini and Sala-i-Martin, 1992). The empirical findings on the effect of removing financial repression, i.e., financial liberalization on growth supports this view, but various channels through which liberalization spurs growth have been evidenced. The possible negative effect of financial repression on economic growth does not automatically mean that countries should adopt a laissez-faire stance on financial development and remove all regulations and controls that create financial repression. Many developing countries that liberalized their financial markets experienced crises partly because of the external shocks that financial liberalization introduces or amplifies. Financial liberalization can create short-term volatility despite its long-term gains (Kaminsky and Schmukler, 2002). Also, because of market imperfections and information asymmetries, removing all public financial regulations may not yield an optimal environment for financial development. An alternative to a financially repressive administration would be a new set of regulations to ensure market competition as well as prudential regulation and supervision. ECONOMIC THOUGHTS The literature on finance and development postulates a symbiotic relationship between the evolution of the financial system and the development of the real economy. This prediction is common to both the McKinnon-Shaw approach and the endogenous growth literature. However, while in the former financial development determines the level of steady-state output, in the latter it is a determinant of the equilibrium rate of economic growth. In the McKinnon-Shaw literature the basis for the relationship between financial and economic development is Gurley and Shaws (1955) debt-intermediation hypothesis. In this framework an increase in financial saving relative to the level of real economic activity increases the extent of financial intermediation and raises productive investment which, in turn, raises per-capita income. In these models nominal interest rate controls inhibit capital accumulation because they reduce the real rate of return on bank deposits, thereby discouraging financial saving. Moreover, higher reserve requirements also exert a negative influence on financial intermediation by increasing the wedge between lending and deposit rates. Under a competitive banking system this wedge is an increasing function of the rate of inflation. Thus higher real interest rates encourage capital accumulation and real economic activity, largely through an increase in the extent of financial intermediation. The competitive model of the banking industry are theoretically inadequate because First, in many less developed countries the banking industry is typically dominated by a small number of banks and collusive behaviour is not uncommon. Second, asymmetric information in loan markets is sufficient to generate a considerable degree of market power for lenders. Theoretical inadequacy relates to the implication of the assumptions of perfect competition, which leave little room for analyzing the behaviour of banks and their reactions to government interventions. Departure of the benchmark model from perfect competition has important implications for the way in which repressionist policies affect financial development. These effects may differ depending on the source of the departure from perfectly competitive behaviour. In the case where the departure is due to collusive behaviour, banking controls may induce banks to use non-interest-rate methods to influence the volume of bank deposits. Whenever the departure from perfect competition is due to imperfect information, the possibility of government corrective actions must be acknowledged. According to Stiglitz (1993), interest rate restrictions may be able to address moral hazard in the form of excessive risk taking by banks. Thus if one is prepared to assume that depositors perceive such restrictions as enhancing the stability of the banking system, their imposition may increase depositors willingness to hold their savings in the form of bank deposits. However, this crucially depends on how government policies are perceived by the public, which in turn relates to the existence or otherwise of good governance. Ill perceived and/or executed policies may have the opposite effect than that predicted by the market failure paradigm. Thus the success or failure of certain policies may largely depend on the effectiveness of the institutions that implement them (World Bank (1993). The endogenous growth literature offers additional channels through which financial sector policies may affect financial development, independently of the real rate of interest. In contrast to the Courakis-Stiglitz analysis, where repressionist policies may have positive effects, this literature typically predicts negative effects. The above analyses serve to suggest that the effects of certain types of interventionist policies as well as the channel through which they work may be different than has so far been recognized by much of the empirical literature. In particular, these policies may have direct effects on financial depth by: (1) changing the willingness of banks to raise deposits by non-interest-rate methods, and (2) changing the willingness of savers to supply their savings to the banking system. Thus these policies can have effects over and above-and sometimes conflicting with-those that are widely recognized in the literature. DATA ANALYSIS We focus on the economy of India for a variety of reasons. Besides the obvious reason that India is one of the most important developing economies in the world, it also has a rich history of varying types of repressionist policies which aids the statistical investigation. In the late 1950s the financial system of India was fairly liberal with no ceilings on interest rates and low reserve requirements. In the early 1960st he government tightened its control over the financial system by introducing lending rate controls, higher liquidity requirements, and by establishing state development banks for industry and agriculture. This process culminated in the nationalization of the 14 largest commercial banks in 1969. Further nationalizations took place in 1980. Interest rate controls were rigidly applied from the 1970s to the late 1980s to all types of loans and deposits. The term structure of interest rates was largely dictated by the Reserve Bank. Credit planning, a formal system of dire cted credit introduced in 1970, increasingly covered a very large percentage of total lending. Moreover, concessionary lending rates were offered to priority sectors. The late 1980s were, however, marked by the beginning of a process of gradual liberalization of the financial system. Ceilings on lending rates began to be lifted in 1988 and were completely abolished in 1989. Finally, further relaxations on directed credit and concessionary lending rates took place in 1990 and 1992. Interestingly, the index appears to reflect quite well many of the policy shifts that occurred during the sample period. According to this index, the early 1960s appear to be characterized with gradual increases in the level of financial repression. There was some stability in the mid-1960s followed by a big jump in 1969. This behaviour coincides with developments in the 1960s which culminated with the nationalization of the largest eleven banks in 1969, which allowed the Reserve Bank of India to intensify its directed credit program and to impose controls on deposit rates. The 1970s were characterized with the gradual imposition of more controls, i .e. a lending rate floor operated during 1973 and 1974, a lending rate ceiling was imposed in 1975 and remained in operation for 13 years, and reserve requirements (PAPER 3) were raised in 1976. The early 1980s saw even more controls imposed and an intensification of the directed credit program. Once again the gradual increase in the inde x follows these developments quite well. The index drops significantly in 1985, which coincides with a partial deregulation of deposit rate controls. It then rises again, reflecting the reintroduction of deposit rate controls in 1988 and a 4% increase of reserve requirements in 1989, but drops again in 1990 when the directed credit program is relaxed. Finally, there is a small drop of the index in 1991, which coincides with further deregulations of deposit rates. (PAPER 3) RECOMMENDATION (financial liberalisation) Since the break-up of the colonial empires, many developing countries suffered from stagnant economic growth, high and persistent inflation, and external imbalances under a financially repressed regime. To cope with these difficulties economic experts had advocated what they called â€Å"Financial liberalization mainly a high interest rate policy to accelerate capital accumulation, hence growth with lower rates of inflation (McKinnon (1973), Shaw (1973), Kapur (1976) and Matheison (1980)). Their argument that relaxation of the institutionally determined interest rate ceilings on bank deposit rates would lead to price stabilization and long-run growth through capital accumulation is based on the following chronology of events: (a) the higher deposit rates would cause the households to substitute away from unproductive assets (foreign currency, cash, land, commodity stocks, an so on) in favour of bank deposits; (b) this in turn would raise the availability of deposits into the banking system, and would enhance the supply of bank credit to finance firms capital requirements, and ; (c) this upsurge in investment would cause a strong supply side effect leading to higher output and lower inflation.(paper 1) CONCLUSION The main finding of this paper is that the direct effects of financial repression in India were negative and quite substantial. We would, however, advise caution in generalizing from these results to other countries. It is well known that the success of economic policies largely depends on the effectiveness of the institutions that implement them, and this clearly varies from country to country (e.g., World Bank (1993)). Thus we would not be surprised if future research showed- that the direct effects of financial repression in other countries (e.g., South Korea) were positive and significant.19 In fact, according to our theoretical analysis, the possibility of positive effects cannot be ruled out. Our conjecture is that repressionist policies may have positive effects whenever they are able to successfully address market failure. How-ever, market failure should encompass not only information-related imperfections but also those pertaining to the structure of the banking industry, as the latter may be equally important. Our results highlight a number of potentially fruitful avenues for further research. From a theoretical view point much work needs to be done to model financial repression in a framework where banks are more active than has so far been customarily assumed. Models where banks are able to influence the volume of their loanable funds may also be in the spirit of the modem banking literature, which emphasises the importance of active liability management. In such a framework it would be interesting to explore the role of market structure. A game-theoretic approach may also be taken, which could yield rich insights about the strategic aspects of financial repression. From an empirical point of view, the examination of the direct effects of financial repression in other countries is likely to be of considerable value. Furthermore, comparisons of these effects across different economies are likely to shed light on the relative effectiveness of repressi onist policies, thereby providing indirect evidence on relative levels of good governance. Finally, our results suggest that there is also considerable scope for empirical studies of bank behaviour under conditions of financial repression. (PAPER 3)

Electoral Basis Of The Two-par :: essays research papers

In the article â€Å"Electoral Basis of the Two Party System† by Maurice Duverger, the political party systems are dissected and looked at from many points of view. Democratic countries can have the political party system range from a two party system, such as the one in the United States, to a many party system, such as the party system in France and Italy. This article also gives the specific views of those few people whom are opposed to the political party systems as well as those few that are for the political party systems. In speaking of those that are in opposition to the political party system, many views and opinions are expressed. The political party system is called a party oligarchy because of the way the election process occurs. The article says, â€Å"The party oligarchy is widened without ever becoming a democracy, for the election is carried out by the members, who are a minority in comparison with those who give their votes to the party in general elections.† Duverger also states that parties usually tend to create an opinion formed by propaganda and improper procedure, such as the ballot procedure. In conclusion, â€Å"the party system is less a photograph of opinion is a projection of the party system.† According to this statement, Duverger expresses that â€Å"the general development of parties tries to emphasize their deviation from the democratic regime [which is a mode of system of rule or government].† The electoral processes are gradually losing ground in the appointment of leaders by nomination or co-option. Because of this fact, â€Å"discipline among members is tightened both by these material means and by an even greater effort of propaganda and persuasion which leads them to venerate the Party and its leaders and to believe in their infallibility.† This statement leads others to believe that a system without political parties would be better for the country as well as for the governmental system of that particular country. Democracy was built on the basis of the eighteenth-century philosophical ideas, which the experts think is true and justifiable. Duverger states that all governments are oligarchic, which means the domination of many by the few. Governments of all types imply discipline, which means â€Å"All discipline is imposed from without: ‘self-discipline’ is itself the result of education, which implies a prior external discipline, and is always very limited.† After looking at a few things that are wrong with governments and why the political party system should be non-existent, â€Å"true democracy is something different, more modest but more real.

A Practitioner’s Guide to Ethical Decision Making

Holly Forester-Miller, Ph. D. Thomas Davis, Ph. D. Copyright  © 1996, American Counseling Association. A free publication of the American Counseling Association promoting ethical counseling practice in service to the public. — Printed and bound copies may be purchased in quantity for a nominal fee from the Online Resource Catalog or by calling the ACA Distribution Center at 800. 422. 2648.ACA grants reproduction rights to libraries, researchers and teachers who wish to copy all or part of the contents of this document for scholarly purposes provided that no fee for the use or possession of such copies is charged to the ultimate consumer of the copies. Proper citation to ACA must be given. Introduction Counselors are often faced with situations which require sound ethical decision making ability. Determining the appropriate course to take when faced with a difficult ethical dilemma can be a challenge.To assist ACA members in meeting this challenge, the ACA Ethics Committee ha s developed A Practitioner's Guide to Ethical Decision Making. The intent of this document is to offer professional counselors a framework for sound ethical decision making. The following will address both guiding principles that are globally valuable in ethical decision making, and a model that professionals can utilize as they address ethical questions in their work. Moral Principles Kitchener (1984) has identified five moral principles that are viewed as the cornerstone of our ethical guidelines.Ethical guidelines can not address all situations that a counselor is forced to confront. Reviewing these ethical principles which are at the foundation of the guidelines often helps to clarify the issues involved in a given situation. The five principles, autonomy, justice, beneficence, nonmaleficence, and fidelity are each absolute truths in and of themselves. By exploring the dilemma in regards to these principles one may come to a better understanding of the conflicting issues. 1. Aut onomy is the principle that addresses the concept of independence.The essence of this principle is allowing an individual the freedom of choice and action. It addresses the responsibility of the counselor to encourage clients, when appropriate, to make their own decisions and to act on their own values. There are two important considerations in encouraging clients to be autonomous. First, helping the client to understand how their decisions and their values may or may not be received within the context of the society in which they live, and how they may impinge on the rights of others.The second consideration is related to the client's ability to make sound and rational decisions. Persons not capable of making competent choices, such as children, and some individuals with mental handicaps, should not be allowed to act on decisions that could harm themselves or others. 2. Nonmaleficence is the concept of not causing harm to others. Often explained as â€Å"above all do no harm†, this principle is considered by some to be the most critical of all the principles, even though theoretically they are all of equal weight (Kitchener, 1984; Rosenbaum, 1982; Stadler, 1986).This principle reflects both the idea of not inflicting intentional harm, and not engaging in actions that risk harming others (Forester-Miller & Rubenstein, 1992). 3. Beneficence reflects the counselor's responsibility to contribute to the welfare of the client. Simply stated it means to do good, to be proactive and also to prevent harm when possible (Forester-Miller & Rubenstein, 1992). 4. Justice does not mean treating all individuals the same.Kitchener (1984) points out that the formal meaning of justice is â€Å"treating equals equally and unequals unequally but in proportion to their relevant differences† (p. 49). If an individual is to be treated differently, the counselor needs to be able to offer a rationale that explains the necessity and appropriateness of treating this indivi dual differently. 5. Fidelity involves the notions of loyalty, faithfulness, and honoring commitments. Clients must be able to trust the counselor and have faith in the therapeutic relationship if growth is to occur.Therefore, the counselor must take care not to threaten the therapeutic relationship nor to leave obligations unfulfilled. When exploring an ethical dilemma, you need to examine the situation and see how each of the above principles may relate to that particular case. At times this alone will clarify the issues enough that the means for resolving the dilemma will become obvious to you. In more complicated cases it is helpful to be able to work through the steps of an ethical decision making model, and to assess which of these moral principles may be in conflict.Ethical Decision Making Model We have incorporated the work of Van Hoose and Paradise (1979), Kitchener (1984), Stadler (1986), Haas and Malouf (1989), Forester-Miller and Rubenstein (1992), and Sileo and Kopala ( 1993) into a practical, sequential, seven step, ethical decision making model. A description and discussion of the steps follows. 1. Identify the Problem. Gather as much information as you can that will illuminate the situation. In doing so, it is important to be as specific and objective as possible. Writing ideas on paper may help you gain clarity.Outline the facts, separating out innuendos, assumptions, hypotheses, or suspicions. There are several questions you can ask yourself: Is it an ethical, legal, professional, or clinical problem? Is it a combination of more than one of these? If a legal question exists, seek legal advice. Other questions that it may be useful to ask yourself are: Is the issue related to me and what I am or am not doing? Is it related to a client and/or the client's significant others and what they are or are not doing? Is it related to the institution or agency and their policies and procedures?If the problem can be resolved by implementing a policy of an institution or agency, you can look to the agency's guidelines. It is good to remember that dilemmas you face are often complex, so a useful guideline is to examine the problem from several perspectives and avoid searching for a simplistic solution. 2. Apply the ACA Code of Ethics. After you have clarified the problem, refer to the Code of Ethics (ACA, 2005) to see if the issue is addressed there. If there is an applicable standard or several standards and they are specific and clear, following the course of action indicated should lead to a resolution of the problem.To be able to apply the ethical standards, it is essential that you have read them carefully and that you understand their implications. If the problem is more complex and a resolution does not seem apparent, then you probably have a true ethical dilemma and need to proceed with further steps in the ethical decision making process. 3. Determine the nature and dimensions of the dilemma. There are several avenues to foll ow in order to ensure that you have examined the problem in all its various dimensions. Consider the moral principles of autonomy, nonmaleficence, beneficence, justice, and fidelity. Decide which principles apply to the specific situation, and determine which principle takes priority for you in this case. In theory, each principle is of equal value, which means that it is your challenge to determine the priorities when two or more of them are in conflict. o Review the relevant professional literature to ensure that you are using the most current professional thinking in reaching a decision. o Consult with experienced professional colleagues and/or supervisors.As they review with you the information you have gathered, they may see other issues that are relevant or provide a perspective you have not considered. They may also be able to identify aspects of the dilemma that you are not viewing objectively. o Consult your state or national professional associations to see if they can pro vide help with the dilemma. 4. Generate potential courses of action. Brainstorm as many possible courses of action as possible. Be creative and consider all options. If possible, enlist the assistance of at least one colleague to help you generate options. . Consider the potential consequences of all options and determine a course of action. Considering the information you have gathered and the priorities you have set, evaluate each option and assess the potential consequences for all the parties involved. Ponder the implications of each course of action for the client, for others who will be effected, and for yourself as a counselor.Eliminate the options that clearly do not give the desired results or cause even more problematic consequences. Review the remaining options to determine which option or ombination of options best fits the situation and addresses the priorities you have identified. 6. Evaluate the selected course of action. Review the selected course of action to see if it presents any new ethical considerations. Stadler (1986) suggests applying three simple tests to the selected course of action to ensure that it is appropriate. In applying the test of justice, assess your own sense of fairness by determining whether you would treat others the same in this situation. For the test of publicity, ask yourself whether you would want your behavior reported in the press.The test of universality asks you to assess whether you could recommend the same course of action to another counselor in the same situation. If the course of action you have selected seems to present new ethical issues, then you'll need to go back to the beginning and reevaluate each step of the process. Perhaps you have chosen the wrong option or you might have identified the problem incorrectly. If you can answer in the affirmative to each of the questions suggested by Stadler (thus passing the tests of justice, publicity, and universality) and you are satisfied that ou have selected an appropriate course of action, then you are ready to move on to implementation. 7. Implement the course of action. Taking the appropriate action in an ethical dilemma is often difficult. The final step involves strengthening your ego to allow you to carry out your plan. After implementing your course of action, it is good practice to follow up on the situation to assess whether your actions had the anticipated effect and consequences. The Ethical Decision Making Model at a Glance 1. 2. 3. 4. 5. 6. 7. Identify the problem. Apply the ACA Code of Ethics.Determine the nature and dimensions of the dilemma. Generate potential courses of action. Consider the potential consequences of all options, choose a course of action. Evaluate the selected course of action. Implement the course of action. It is important to realize that different professionals may implement different courses of action in the same situation. There is rarely one right answer to a complex ethical dilemma. However, if you follow a systematic model, you can be assured that you will be able to give a professional explanation for the course of action you chose.Van Hoose and Paradise (1979) suggest that a counselor â€Å"is probably acting in an ethically responsible way concerning a client if (1) he or she has maintained personal and professional honesty, coupled with (2) the best interests of the client, (3) without malice or personal gain, and (4) can justify his or her actions as the best judgment of what should be done based upon the current state of the profession† (p. 58). Following this model will help to ensure that all four of these conditions have been met.

Types of Meat Consumed in the Middle Ages

Types of Meat Consumed in the Middle Ages The average medieval cook or housewife had access to a variety of meat from both wild and domesticated animals. Cooks in the households of the nobility had a fairly impressive selection available to them. Here are some, but by no means all, of the meat medieval people would consume. Beef and Veal By far the most common meat, beef was regarded as coarse and was never considered exclusive enough for the nobility; but it was very popular among the lower classes. Though more tender, veal never surpassed beef in popularity. Many peasant households had cows, usually only one or two, that would be slaughtered for meat once their days of giving milk had passed. This would usually take place in the fall so that the creature would not have to be fed through the winter, and whatever was not consumed at a feast would be preserved for use throughout the months ahead. Most of the animal was used for food, and those parts that werent eaten had other purposes; the hide was made into leather, the horns (if any) might be used for drinking vessels, and the bones were occasionally used to make sewing implements, fasteners, parts of tools, weapons, or musical instruments, and a variety of other useful items. In larger towns and cities, a substantial portion of the population had no kitchens of their own, and so it was necessary for them to purchase their meals ready-made from street vendors: a kind of medieval fast food. Beef would be used in the meat pies and other food items these vendors cooked if their customers were numerous enough to consume the product of a slaughtered cow in a matter of days. Goat and Kid Goats had been domesticated for thousands of years, but they were not particularly popular in most parts of medieval Europe. The meat of both adult goats and kids was consumed, however, and the females gave milk that was used for cheese. Mutton and Lamb Meat from a sheep that is at least a year old is known as mutton, which was very popular in the Middle Ages. In fact, mutton was sometimes the most expensive fresh meat available. It was preferable for a sheep to be from three to five years old before being slaughtered for its meat, and mutton that came from a castrated male sheep (a wether) was considered the finest quality. Adult sheep were most often slaughtered in the fall; the lamb was usually served in the spring. Roast leg of mutton was among the most popular foods for nobility and peasant alike. Like cows and pigs, sheep might be kept by peasant families, who could make use of the animals fleece regularly for homespun wool (or trade or sell it). Ewes gave milk that was frequently used for cheese. As with goat cheese, cheese made from sheeps milk could be eaten fresh or stored for quite some time. Pork, Ham, Bacon, and Suckling Pig Since ancient times, the meat of the pig had been very popular with everyone except Jews and Muslims, who regard the animal as unclean. In medieval Europe, pigs were everywhere. As omnivores, they could find food in the forest and city streets as well as on the farm. Where peasants could usually only afford to raise one or two cows, pigs were more numerous. Ham and bacon lasted a long time and went a long way in the humblest peasant household. As common and inexpensive as keeping pigs was, pork was favored by the most elite members of society, as well as by city vendors in pies and other ready-made foods. Like cows, nearly every part of the pig was used for food, right down to its hooves, which were used to make jellies. Its intestines were popular casings for sausages, and its head was sometimes served on a platter at festive occasions. Rabbit and Hare Rabbits have been domesticated for millennia, and they could be found in Italy and neighboring parts of Europe during Roman times. Domesticated rabbits were introduced to Britain as a food source after the Norman Conquest. Adult rabbits more than a year old are known as coneys and show up fairly frequently in surviving cookbooks, even though they were a rather expensive and unusual food item. Hare has never been domesticated, but it was hunted and eaten in medieval Europe. Its meat is darker and richer than that of rabbits, and it was frequently served in a heavily-peppered dish with a sauce made from its blood. Venison There were three types of deer common in medieval Europe: roe, fallow, and red. All three were a popular  quarry for aristocrats on the hunt, and the meat of all three was enjoyed by the nobility and their guests on many an occasion. The male deer (stag or hart) was considered superior for meat. Venison was a popular item at banquets, and in order to be sure of having the meat when it was wanted, deer were sometimes kept in enclosed tracts of land (deer parks). Since the hunting of deer (and other animals) in the forests was usually reserved for the nobility, it was highly unusual for the merchant, working, and peasant classes to partake of venison. Travelers and laborers who had reason to stay at or live in a castle or manor house might enjoy it as part of the bounty the lord and lady shared with their guests at mealtime. Sometimes cookshops were able to procure venison for their customers, but the product was much too expensive for all but the wealthiest merchants and nobility to purchase. Usually, the only way a peasant could taste venison was to poach it. Wild Boar The consumption of boar goes back thousands of years.   A wild  boar was highly prized in the Classical world, and in the Middle  Ages, it was a favored quarry of the hunt. Virtually all parts of the boar were eaten, including its liver, stomach and even its blood, and it was considered so tasty that it was the aim of some recipes to make the meat and innards of other animals taste like that of  boar. A boars head was often the crowning meal of a Christmas feast. A Note on Horse Meat The meat of horses has been consumed ever since the animal was first domesticated five thousand years ago, but in medieval Europe,  horse  was only eaten under the  direst  circumstances of famine or siege. Horse meat is prohibited in the diets of Jews, Muslims, and most Hindus, and is the only food ever to be forbidden by  Canon Law, which led to its being banned in most of Europe. Only in the 19th century was the restriction against horse meat lifted in any European countries. Horse meat does not appear in any surviving medieval cookbooks.   Types of FowlTypes of Fish Sources and Suggested Reading by Melitta Weiss Adamson edited by Martha Carlin and Joel T. Rosenthal edited  by C.M. Woolgar, D.  Serjeantson  and T. Waldron edited by E.E. Rich and C.H. Wilson by Melitta Weiss Adamson

Quotes on Funny Thoughts to Make You Smile

Quotes on Funny Thoughts to Make You Smile Have you ever had a funny thought pop into your brain? Maybe you put a couple of things together and realized it told a truth in a quirky way. Our brains often have a natural comedian deep inside and you might even make yourself laugh. Then when you stop and think about thinking, things start getting a little weird. Famous thinkers and witty people might seem to have more funny thoughts, but we have the benefit of only seeing their really good material. You might be inspired by a humorous remark, or hearing about an incident that causes you to giggle. Share your funny thoughts with others and see how you create a riot of laughter around you. If you need some help, read these funny thoughts of well-known people. Will Rogers Everything is funny, as long as its happening to somebody else.   Robert  Frost The brain a wonderful organ.  It starts working the moment you get up in the morning and does not stop until you get into the office. Charles Schulz Sometimes I lie awake at night, and I ask, Where have I gone wrong? Then a voice says to me, This is going to take more than one night. Friedrich Nietzsche All things are subject to interpretation whichever interpretation prevails at a given time is a function of power and not  truth. Miguel de Cervantes Sanity may be madness but the maddest of all is to see life as it is and not as it should be. Norm Papernick Those who can laugh without cause have either found the true meaning of happiness or have gone stark raving mad. Ethel Barrymore You grow up the day you have your first real laugh - at yourself.   Reba McEntire To succeed in life, you need three things: a wishbone, a backbone, and a funnybone.   Isaac Asimov People who think they know everything are a great annoyance to those of us who do. Abraham Lincoln No man has a good enough memory to be a successful liar. Oscar Wilde The public is wonderfully tolerant. It forgives everything except genius. The public have an insatiable curiosity to know everything, except what is worth knowing.   Victor Borge Santa Claus has the right idea - visit people only once a year. Edward Gibbon Beauty is an outward gift which is seldom despised, except by those to whom it has been refused. Quentin Crisp The trouble with children is that theyre not returnable. George Bernard Shaw Love is a gross exaggeration of the difference between one person and everybody else. Joe Namath Until I was thirteen, I thought my name was shut up. Mark Twain While the rest of the species is descended from apes, redheads are descended from cats. Ogden Nash Middle age is when youve met so many people that every new person you meet reminds you of someone else. The Cable Guy You know what the trouble about real life is? Theres no danger music.

Essay on International Business Case Study Example | Topics and Well Written Essays - 2000 words

Essay on International Business - Case Study Example For example. Toyota produces Camry in Kentucky; While Dell produces and sells Pc's in China. Free Trade areas - agreements that reduce tariffs and barriers among trading partners further encourage international trade. NAFTA (the North American Free Trade Area) and the EU (European Union) are examples. Doing Business internationally today is big business. For example the total value of US imports rose from $799 million in 1994 to $135 billion in 2003; Exports rose from $72 billion to $88 billion in the same period. More globalization means more Competition and more competition means more pressure to be 'World Class'. That is to lower costs and to make employees more productive .As one expert puts it ' the bottom line is that the growing integration of the world economy into a single , huge market place is increasing the intensity of competition in a wide range of manufacturing and service industries'.(Dessler:2005) Dixon Ticonderoga is a victim of Globalisation. Dixon has owned one of the oldest public companies of pencil manufacturing in the U.S. His company has enjoyed a long period of success. That halted in the 1970's. That only because China had started dumping their pencils in the U.S market at cheaper rates. And it was only after some time that the duties were imposed on the imports which raised the prices. This helped Dixon's company to make profits ag... And it was only after some time that the duties were imposed on the imports which raised the prices. This helped Dixon's company to make profits again, but then the Chinese kept making better cheaper pencils and as a result after a few years, the imports returned to the high level they were at, before the imposition of duties. Dixon in the meantime was trying rigorously to meet this foreign competition on price. He tried and experimented on making cheaper pencils by using recycled paper. He had to dump the idea as they were getting stuck in the sharpener. He then also decided to use the Canadian Insencedar wood for his premium brand. Later, he started purchasing lower priced Indonesian wood. Dixon started to purchase erasers from a Korean supplier, in an effort to further reduce costs. But the company was still loosing money. And all his efforts were in vain. Theory Application: 'Globalization creates anxieties, largely because of what trade theory and international Economics say about its likely impacts on the geographical distribution of economic activities. Classical Ricardian trade theory, if applied directly to a world of decreasing trade barriers and transportation/transactions costs, suggests that comparative advantage effects will be freed up to play themselves out on a wider spatial scale, leading to rearrangement of activities on the landscape. The economies of places will generally become more specialized, clearer expressions of their globally-redefined comparative advantages '(Ricardo, 1963; Balassa, 1963). International Business Theories: International business also plays a vital role. Some of the International Business theories are: Theory of Comparative Advantage - Specialization: Specialization of products and

Marketing Communication Project for Abbey National Essay

Marketing Communication Project for Abbey National - Essay Example The appropriate promotional product mix is chosen. The guidelines of evaluation and control of the campaign is prepared. On COST, but not on PRICE: The term 'Customer's cost' is very essential. It is not the price what customer pays, but the value of the product and services customer has to delineate to acquire the product / services he /she is getting. Whether the customer is getting the value for money On COMMUNICATION but not on PROMOTION: The emphasize is on Communication. There is no place of product or service promotion. The buying decision of a customer no longer depends only on the product or services offered. It also depends on various other factors like company reputation, it's standing in public image etc. Communication is the most essential aspect in achieving this goal. The communication process should be a two way process involving the customer for feedback. As per the American Association of Advertising Agencies, the IMC can be defined as "a concept of marketing communication planning the recognizes the added value of a comprehensive plan that evaluates the strategic role of a variety of communication disciplines e.g. general advertising, direct response, sales promotion and public relations - and combines those disciplines to provide clarity, consistency and maximum communication impact"1. The core idea behind Integrated Marketing Communication is to combine the various communication tools that are traditionally used independently of each other in such a way that a synergetic effect is created taking care of making the effort seamless or homogeneous. It emphasizes that the communication becomes more effective and efficient due to the result of the consistency and synergetic effects of all the tools used. It should be noted that the emphasize is put on the words consistency