PAS The Right of Each Patient - 1624 Words

As a congressman from the state of Oregon that currently has a regulated physician assisted suicide program for the terminally ill, I am writing to you today, Mr. Blumenauer, to possibly convince you to draft a national law to legalize PAS for the United States specifically for the terminally ill. As you may know, the talk within this issue has been going around quite some time. Many americans fear that by legalizing PAS that it might create problematic issues that could lead to abuse as well as lack of advancement for medicine. Due to this fear, I feel as though you are the best person to draft this bill because you know what works and what does not. This also makes you adequate to advance this conversation currently going on about†¦show more content†¦Through this ruling, it established the fact that â€Å" U.S. has recognized the right of at least competent adults to refuse even basic, life-sustaining medical care† (Cassity 471). In a way, this show that states a re â€Å"already condoning a form of suicide by recognizing the right to refuse care† (472). Following this logic, should it not be perfectly legal for patients to get access to assisted suicide when they already have the legal right to refuse to death? I mean by refusing treatment a patient, at most, is making a statement that they want to die. In a way, it’s a tedious and painful way of committing suicide because it takes a long time for it to actually succeed. By legalizing PAS, it minimizes the time and reduces the pain. I know this proposition was rejected by the U.S. Supreme Court in the court case of Washington v. Glucksberg, but if you look at it, â€Å"five votes on the Court appeared to be leaning in favor of recognizing a constitutional right to assisted suicide ‘for competent, terminally ill persons suffering severe pain’ (472). Seventeen years has pass since this ruling, and I believe if you presented this idea to the Supreme court today, the n they will more then likely to rule this motion to be true, and apply PAS only to terminally ill. If you look at the percentage of americans who favors PAS for the terminally ill against the percentage who does not, it will show that â€Å"55 percent favor it against 45 who does not† (Hensley par 5). This statistical data isShow MoreRelatedPhysician Assisted Suicide Should Be Legal1461 Words   |  6 PagesPhysician-assisted suicide, abbreviated as PAS, is a topic that carries wide concerns to people in the United States. PAS is being deliberated on whether a physician should be legally allowed to prescribe a lethal drug to its patient. Many views conflict each other on this topic, whether it is because of religion, morals, or ethics. As PAS can be a difficult subject to others, PAS is usually decided by the patient itself. When religion gets involved with the subject of PAS, many religious groups claim thatRead MoreEuthanasia And Physician Assisted Suicide997 Words   |  4 PagesEuthanasia and Physician Assisted Suicide: The Right to Die with Dignity (The Legalization, At Risk Groups, and Rebuttal) The possible legalization of voluntary euthanasia and physician assisted suicide brings concerns in regards to how well it will be accepted. There are contradictions that exists between government and church when it comes to the morals and values placed on human life. Although, society has concerns in regards to at risk community groups and the type of treatment availableRead MoreDescribe In the United States today, the issue of life and death always tends to be one of the most1500 Words   |  6 PagesPhysician-Assisted Suicide (PAS). PAS is where the physician helps a person kill himself or herself by prescribing a lethal dose of one or more medications. During PAS, a physician hands over the medication to take, but does not administer it. PAS should not be confused with euthanization, which is where the doctor administers the medicine. Currently, three states, Oregon, Washington and Vermont have passed legislation that allows PAS. Every year 15-20 states attempt to introduce legalizing PAS into legislationRead MoreHemineglect1507 Words   |  7 Pagescondition in which patients are unable to attend and respond to the contralesional side of space (Dijkerman, Webling, ter Wal, Groet, van Zandvoort, 2003). Hemineglect is characterized by the lack of spatial awareness, most commonly on the left hemispace (Parton Malhotra Husain, 2004). The most common form of hem ineglect, is that of patients who have right hemisphere lesions commonly found to damage the ‘where’ pathway, most commonly after a stroke. These kinds of patients tend to neglect theRead MoreWhy I Am A Scientist836 Words   |  4 Pagesphysician. I found myself captivated with learning about disease processes, diagnoses, and treatment, but more importantly I really enjoyed interacting with the patients. Each patient had an unusual story and set of symptoms they presented and I felt very lucky to have them share their stories with me. My interest in medicine grew with each patient case and passing day. While my academic life was flourishing, my personal life was not. During my senior year of college, my grandpa was diagnosed with severeRead MoreThe Euthanasia Debate1211 Words   |  5 Pagesthe painless killing of a terminally ill patient by means of lethal injection by a doctor in a controlled medical environment. Similarly, physician assisted suicide (PAS) is when a patient requests a lethal prescription from a doctor or pharmacist to end their life before a fatal disease does. The two are akin to each other and are almost interchangeable in definitions. Being a highly controversial topic, there is a plethora of arguments surrounding PAS, all very emotionally driven and opinionatedRead MoreThe Ethical Issues Of Physician Assisted Suicide Essay1736 Words   |  7 PagesEuthanasia is described as the intentional discontinuation, by the patient s physician, of vital treatment that could prolong the person s life. Assisted suicide occurs when a health care worker provides a patien t with tools and/or medication that will help the patient kill him or herself, without the direct intervention of the care provider. This paper will define key terms for my argument against Physician Assisted Death, and why I believe it’s wrong, where I will provide a brief background ofRead MoreThe Death Of The Medical Field Essay1598 Words   |  7 Pagesof suicide in the medical field is a complicated topic involving legal and ethical backgrounds, decisions within the state of the patient and their physician of care must be closely examined. Assisted suicide, to be exact, is the act when the physician provides medication or a prescription to a patient at his or her explicit request with the understanding that the patient intends to use the medication to end his or her life. Whether or not on to which side you fall, death is an everyday occurrenceRead MorePhysician Assisted Suicide And The Hippocratic Oath1580 Words   |  7 PagesPhysician assisted suicide or PAS is a to pic that has long been debated throughout history dating back as far as the ancient Greeks and Romans. During that time, physician assisted suicide was an accepted and tolerated practice by giving patients poison to help them die rather than have them suffer a long and painful death. Even though it went against the Hippocratic Oath which in part states â€Å"I will neither give a deadly drug to anybody who asked for it, nor will I make a suggestion to this effect†Read MoreA Mirror of Suicide1410 Words   |  6 PagesSocrates’ actions were meant to defend the integrity of freedom of speech. The debate upon suicide is between the morality and circumstances of suicide. One side, philosophers’ view that it is a human’s right to control his or her life including ending it. Opposing views accept that humans have the rights to their own life but should never use that authority to end their life. As a philosopher and absurdist, novelist and playwright Albert Camus was opposed to suicide. As an absurdist he thought religion

Which Meaning of Compensation Seems Most Appropriate from...

Which meaning of compensation seems most appropriate from an employee’s view: Return, reward or entitlement? Compensation and Benefits remain as an invaluable tool to attract, motivate and retain qualified candidates. Compensation refers to the wages and other non-financial forms of compensation that an organisation pay to employees for the work they do. Compensation can be given out to employees in the form of pay, incentives, and benefits for performing their job. A total compensation and benefits package aids the organisation in increasing and maintaining the individual’s and team’s morale, encourage motivation towards peak performance, achieve internal and external equity, and increases employees’ loyalty to the organisation.†¦show more content†¦Financial rewards, especially those given on a regular basis such as bonuses, profit sharing, etc., should be tied to an employees or a groups accomplishments and should be considered pay at risk in o rder to distance them from salary. By doing so, a manager can avoid a sense of entitlement on the part of the employee and ensure that the reward emphasizes excellence or achievement rather than basic competency. Merit pay increases, then, are not part of an employee reward system. Normally, they are an increase for inflation with additional percentages separating employees by competency. They are not particularly motivating since the distinction that is usually made between a good employee and an average one is relatively small. In addition, they increase the fixed costs of a company as opposed to variable pay increases, such as bonuses, which have to be re-earned each year. Finally, in many small businesses teamwork is a crucial element of a successful employees job. Merit increases generally review an individuals job performance, without adequately taking into account the performance within the context of the group or business. Types of Reward Programs include: Variable Pay, Bonu ses, Profit Sharing, Stock Options, Group- based reward systems, Bonuses are generally short-term motivators. By rewarding an employees performance for the previous year, they encourage a short-term perspective rather than future-orientedShow MoreRelatedWage and Salary Chapter 112487 Words   |  50 PagesMilkovich−Newman: Compensation, Eighth Edition Front Matter 1. The Pay Model  © The McGraw−Hill Companies, 2004 Chapter One The Pay Model Chapter Outline Compensation: Definition, Please? Society Stockholders Managers Employees Global Views—Vive la diffà ©rence Forms of Pay Cash Compensation: Base Cash Compensation: Merit Pay/ Cost-of-Living Adjustments Cash Compensation: Incentives Long-Term Incentives Benefits: Income Protection Benefits: Work/Life Focus Benefits: Allowances Total EarningsRead MoreCompensation Management9389 Words   |  38 PagesCompensation Management Q1.a. What is the role of compensation and rewards in modern organization? What arethe advantages of a fair compensation system? Ans1a. Role of Compensation and Reward in Organization: Compensation and Reward system plays vital role in a business organization. Since, among four Ms, i.e Men, Material, Machine and Money, Men has been most important factor, it is impossible to imagine a business process without Men. Land, Labor, Capital and Organization are four major factorsRead MoreOverview of Hrm93778 Words   |  376 Pagesintend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed in today’s environment which are, you must be able to communicateRead MoreHuman Resources Management150900 Words   |  604 Pagesthe seven major categories of HR activities. Identify the three different roles of HR management. Discuss the three dimensions associated with HR management as a strategic business contributor. Explain why HR professionals and operating managers must view HR management as an interface. Discuss wh y ethical issues and professionalism affect HR management as a career field. ââ€"  ââ€"  ââ€"  ââ€"  ââ€"  3 HR TRANSITIONS HR Management Contributes to Organizational Success More effective management ofRead MoreThe Relationship Between Job Satisfaction and Absenteeism in a Selected Field Services Section Within an Electricity Utility in the Western Cape31415 Words   |  126 Pagesof companies, more attention is being given to reduce workplace absenteeism and its cost. Most research has concluded that absence is a complex variable and that it is influenced by multiple causes, both personal and organisational. Job satisfaction has been noted as one of the factors influencing an employee’s motivation to attend. Studies on the relationship between absenteeism and job satisfaction seem to be inconsistent. Some research has found no correlation between these two variables whereasRead MoreThe Impact of Economic Meltdown on the Nigeria Banking Industry (a Case Study of Intercontinental Bank Plc).13502 Words   |  55 Pagesemployee productivity in the Nigerian banking system using the August 14, 2009 CBN intervention into commercial banks (as a result of the meltdown originating from unsecured credits and poor bank management in the Nigerian commercial banking system) as a benchmark to analyze the effects. Data was collected from journals, interviews and direct data from specific units of the bank. The appraisal of the staff of Intercontinental Bank was used to assess performance under the first hypothesis. The second hypothesisRead MoreBvcvv56336 Words   |  226 Pagesstart of the examination in which to read the questions. You are strongly encouraged to use this time for reading only, but notes may be mad e. You then have three hours to complete the paper. You must not start writing your answers in the booklet until instructed to do so by the supervisor. Mark allocations are shown in brackets. Attempt all 6 questions, beginning your answer to each question on a separate sheet. Candidates should show calculations where this is appropriate. 2. 3. 4. 5. 6. Read MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pages10.5/12 ITC New Baskerville Std Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on the appropriate page within text. Copyright  © 2013, 2011, 2009, 2007, 2005 by Pearson Education, Inc., publishing as Prentice Hall. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrievalRead MoreDeveloping Management Skills404131 Words   |  1617 PagesWeidemann-Book Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright  © 2011, 2007, 2005, 2002, 1998 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproductionRead MoreOrganisational Theory230255 Words   |  922 Pages. Organization Theory Challenges and Perspectives John McAuley, Joanne Duberley and Phil Johnson . This book is, to my knowledge, the most comprehensive and reliable guide to organisational theory currently available. What is needed is a text that will give a good idea of the breadth and complexity of this important subject, and this is precisely what McAuley, Duberley and Johnson have provided. They have done some sterling service in bringing together the very diverse strands of work

World Oil Economy Free Essays

Energy has been the main concern of nations looking for progress and development throughout history, oil has always been one such means of energy that is capable of sustaining the large scale development projects many nations have undertaken, the utility generated by oil cannot be substituted with the same efficiency by any other energy generation means, oil today is used in transportation, manufacturing, infrastructure development, power generation etc. All the uses of oil are so vital and important in nature that any hindrance in the supply of oil can wreck havoc in the world economic system. In recent years, we have seen the prices of oil reach to new heights and it’s an accepted fact that oil prices fluctuating always deal a blow to the economic system on a global level. We will write a custom essay sample on World Oil Economy or any similar topic only for you Order Now Whenever there is uncertainty about oil supply due to violence in the Niger delta or political turmoil in Iran or Venezuela or due to the Iraq war. The world markets always react to it and we see a negative impact on the overall economy the prices of oil surge to record heights, such is the case we witnessed in 2008 and early 2009 until recession came into full force and due to dropping demand the prices of oil lowered considerable. But the fundamental question remained energy and the quest for energy and how the global oil economy is working having a direct and immediate impact on the economy of the world. (IEA, 2008) The reason for this issue to come to the forefront are the oil shocks and their negative effects the world has witnessed in the last few decades, it all started with the Arab-Israeli war in 1973, then came the Islamic revolution in Iran in 1979, then was the attack on Iran by Iraq and later the attack on Kuwait in 1980 and 1990, then was the operation desert storm for liberation of Kuwait in 1991, further down the line was the War in Iraq after the allegations of weapons of mass destruction being in possession of Iraq, the war in Lebanon with Israel and in recent times the Iran issue threatens to jeopardize the supply of oil to other countries of the world. Right before the recession started effecting the economies in the year 2008, the world was experiencing a very healthy growth rate, countries like China and India were booming giving a rise to demand of oil and related products which naturally played a role in the rise of oil prices In recent years due to the economic crisis we see that the price of oil experienced a massive drop from the record heights it had managed to reach, and that prompted OPEC which is a organization of oil producing and exporting countries to undertake supply cuts in hopes of controlling the price and stopping it from dropping below and acceptable level. In the last few years, OPEC has made sure that it controls the supply of oil to the market in a tight manner and the recent surge in prices gave them a windfall of profit but it should be kept in mind that the global inventory of oil is low as well and it should not be forgotten that concerns do exist about a shortage of oil in the future which will effective ly jam the growth of all countries of the world. The fact that is most interesting that the prices of oil start depicting the effects of news and speculation even before anything actually happens which is also a reason that speculation plays a very big role in oil pricing mechanisms, since the whole game is about the supply and oil deliveries reaching their intended destinations that’s the core reason that prices get effected by the news and expected events or incidents. (Jesse et al, 2008) The market does possess certain complaints with the oil producing and exporting countries as well, it has been seen time and time again that whenever there is fear that the oil prices are going to experience a big drop OPEC immediately introduces production cuts to balance the effect but on the other hand when the prices of oil hit the ceiling there is very little or almost no effort done by the OPEC countries to control the situation and hence it creates a negative feeling about these countries in the non-OPEC nations. It wont be wrong to suggest that the entire world economy is more dependent on oil and its resulting impacts then any other single factor, countries like China and India have been going through massive development and they supply their products to markets in the west as well as the east and hence the prices and fluctuations in oil prices and supply have a deep impact on these economies, on the other hand poor nations emerge as the biggest losers in case of major turmoil in oil markets. The rise in oil prices has a fundamental contribution to the increase in inflation and trade imbalances in various countries and the prices of oil start a chain effect hindering the abilities of a country to economically strengthen or at times even sustain the current economic strength. On a long term basis we witness that nations are increasingly taking interest in resources that can be used as substitute to oil, development of ethanol is one such example of work being done in alternate energy sources, another interesting observation is that most oil exporting countries are eager to maintain national control over the oil resources but such a strategy also logically leads to less investment in the sector and that’s subsequently leads to maintenance of higher prices in the near future. (Jesse et al, 2008) â€Å"In an elegant and influential paper, it was shown that oil price spikes might lead to a high degree of subsequent uncertainty that causes firms to hold up their investment projects, thereby leading to a dip in overall output. In theory, this effect could be important, though there is not yet much corroborating empirical evidence. â€Å"(Ben Bernanke, 1983) Some studies done by the IMF in 2003 suggest that a 5$ a barrel increase in oil price would lower the global output by 0. 3%, with Europe and Africa being the most effected areas since Asia, and Latin American does consist of oil exporting countries. The problem here is that the effect on fast paced developing countries is much more then as compared to other countries and secondly if we consider situation of a poor nation which is already facing a heavy import bill, the oil shock can end up being a back breaker for them with the impact being at least 4 times more intense. What makes oil products different from other commodities based on the demand and supply principle is that fact that it is used for energy purposes and the price effects for the oil producers and people who consumer oil are more difficult to be adjusted to in the short run then on the long run. Over a long run the factors induced by oil price uncertainty and the political uncertainties surrounding it can definitely be managed as societies are known to evolve over a period of time, needs and ways of getting the job done change from time to time, already we see that the world has become wary of the Oil weapon in the hands of a particular cartel which gives them an edge and a negotiating slip for their interests as they are fully aware that the dependence of the world is on the recourses provided by them. (IEA, 2008) In relation to the countries which are heavily dependent on oil to meet their energy requirements the picture is not so good, as they are so dependent on oil even short run fluctuations have a major impact on the position of their revenues, Oil industry requires massive investments to setup and a long lead time is involved in making the ventures profitable this situation further complicated by oil price fluctuations make it a risky venture. One option for them is to try and diversify the risk they are taking by the sharing of the costs involved with countries they are allied with or the private sector, the existence of oil stabilization funds in countries like Norway can be made of use to stabilize the shocks arising from volatile fluctuations. (Rogoff, 2006) Another good measure will be for other countries to exercise much more flexible monetary policies, countries that are into commodity manufacturing export like South Africa, New Zealand, Australia allow their exchange rates too adjust accordingly with the fluctuations in the prices for the commodities they export. Similarly oil producing countries will be able to induce exchange rate flexibility helping to avoid the sudden deflation that normally occurs. Another question that comes in every individuals mind is how long will the oil reserves last, every now and then we get estimates providing deadlines like oil will run out in about 50 years time or 100 years time but the fact is we just cant be sure about it, there is another circle of thought that believes that with the developing technology and sophisticated methods it will be possible to discover more oil reserves which may last for a very long time. Recently questions did arise about the size of reserves of particular countries or large corporate entities like Royal Dutch Shell but the point to be understood is the oil industry is covered with various complexities like the large scale work involved in identifying potential spots for oil reserves, undertaking massive investment to explore the marked areas and then judging the size of underlying reserves due to all these factors the experts tend to prefer taking a conservative approach instead of going full board and then coming up with disappointing revisions knowing perfectly that the prices of oil are directly effected by the discovery of new reserves. (Jesse et al, 2008) The Political side of the Oil game can never be ignored or downplayed since it’s a major factor, for countless years the world oil industry was being ruled by a limited number of corporate giants operating in collaboration and keeping away from each others territories all over the world. The companies h ad been able to obtain large number of areas in oil rich countries as their turf and were allowed to operate freely. These corporate entities were operating like state’s functioning within state’s, their roles and ways of functioning have been documented on various occasions by investigative studies and new findings continue to arise on a more regular basis. These companies were allowed to use their massive budgets and resources to influence the elected officials in many of the countries and at certain points even gain outcomes in the political and legal arenas as per their wishes. What resulted from this strong influence were the fantastic terms of agreement and other concessions these companies were able to obtain with ease furthermore they were also able to protect the industry from nationalization policies which were attempted in various countries as well. (Mitchell et al, 2001) Although today the situation is different from what it used to be as many countries have preferred to operate in the oil industry only with their nationally run entities, but there are other countries which seem to be opening up to international entities and the need to tight regulation and control arises from this situation if the mistakes of the past are to be avoided. It can also be said that the roles of the past have been somewhat reversed in current times, these days companies face far stringent regulations and terms to be met with by some of the countries. On other hand we can also see the example of sanctions imposed by the US on certain oil rich countries which directly hinders the American oil companies from undertaking any research and development of oil reserves in the territories being blocked by the American sanctions. It is important to understand that in recent times the situation in the World oil industry has experienced a significant shift from what it used to be, the companies have started taking a more professional and business oriented approach, negotiations are done on the basis of mutual benefits. (Borenstein, 2008) Concerns about the future supply and availability of oil due to political reasons arise every now and then but it is very important to understand that the countries producing and exporting oil cannot hold it and disrupt supply for long periods as they themselves are significantly dependent on revenues generated from oil they sell in the world markets so any disruption can only be of a very small amount of time and not something very substantial to be a matter of great concern. (Jesse et al, 2008) In relation to the growing demand of oil, it is predicted by many researchers that the oil prices will remain high but the high prices should be considered a permanent change in fact the growing awareness of substituting oil and energy based resources should be kept in mind as we know today that large amounts of coal reserves do exist which have not been discovered or are not being utilized at present, such alternative energy resources if brought into action in the future in large scale projects will definitely make the prices of oil dip significantly knowing that the current dip in prices is only because of the recession and demand drops being experienced all over the world, but the recession is temporary and it will pass but the situation will definitely become much more interesting when the alternative energy resources are brought into the market scenario. Obviously the level of oil supplies cannot be sustained indefinitely and some data obtained form research on this topic comes very handy here. (Kate et al, 2008) In the month of November 2007, the World Economic Outlook 2007 of the international energy agency came up with a finding that was alarming for everyone, stated that a â€Å"supply side crunch leading in the period to 2015 involving an abrupt escalation of prices cannot be ruled out , the findings further suggested that due to short term inelasticity a demand supply gap could open up a gap of about 13. 5 million barrels per day in the span of coming seven years, we also saw similar warnings coming from the CEO’s of Chevron, Total and the royal Dutch shell† Interestingly the paper attributed these findings to be more related to the economic and political circumstances around the world that could hinder the exploration and development of new reserves which are fundamental to the world oil economy. Furthermore the paper goes on to state that the methods being used to calculate the current oil reserves in the world are variable and have the tendency to be incorrect which creates confusion since no comprehensive and accurate system exists till this point, most of the figures being quoted are nothing more then reasonable guesses. (IEA, 2004) In terms of the future outlook looking at the world political and economic situation it seems unlikely that a positive platform may get developed for wide scale exploratory and development work in potential spots around the world in search for oil reserves which basically advocates to the fact that the world maybe heading towards another oil price shock. The paper sums it up as that although oil reserves may not run out any time soon and it wont be an abrupt affair as well, the reserves may last for quite some time before the crisis is at our doors but the it is important to develop a system to foresee any undesirable development and take steps to neutralize it before it triggers a crisis which could be one of the worst ones the world is going to see, and like it was suggested that the OPEC countries seem to be taking a lethargic approach towards development of new reserves for the future generation and this needs to be corrected and a more active approach is required from all the parties involved. (Jesse et al, 2008) A study done in the Netherlands also came up with some very interesting findings which are mentioned below: The study suggests that if the world economy was not hit by the recession then at this point in time the prices of oil could have reached a whooping 200$ a barrel due to supply constraints, it is also suggested that after the recession such a situation of supply constraint and high prices could last well for a decade at least. (Barry, 2005) According to this paper, â€Å"Due to the supply strain the oil prices will oscillate between two variables: a) The cost of the marginal barrel of supply as determined by the most expensive barrel plus a margin for supply/demand fundamentals and geopolitical risks, driven by open markets in an OECD economic framework, and ) The real User Value of oil – determined by increasingly closed markets (for new reserve exploitation; for bilateral oil trade flows; for refined products), as supported by several of the major OPEC countries and Russia. â€Å" The two options above are distinctive price regimes and as mentioned in the paper the prices wont follow one single regime entirely in fact with changing trends an conditions each of the two regimes will come in play time and time again. Some other factors in relation to it are about the oil futures market as it is the indicator and signaling mechanism of the future prices of oil in the international market. From a traditional point of view high prices of oil should encourage producers to develop and supply more expensive oil and benefit from the high prices but we have not seen any such scenario developing instead the prices are just a test of the consumer behavior towards the changes and the resulting demand. Due to the political and social situation an uncertainty lingers and when such times of great uncertainty are in effect either the price really shoots up or shoots down depending on the conditions. We have already seen the prices shoot up drastically in the last year 2008. It should be understood that although in the short term the actions and reactions of speculators may have an impact on the oil prices but they have no impact in the long run and in the case of current oil prices it is the long run which is the driver behind the volatility. (Kate et al, 2008) In a period of less the 15 years the consumer base for oil has doubled, the situation has changed rapidly from what it was in the early 1990’s, Countries like China and India plus the other developing nations have substantial energy requirements which is naturally dependent on oil, further more the increase in the demand for oil was not exactly being matched by new discoveries of oil reserves resulting in a scenario where we have an extreme strain on the oil industry and the struggle of the industry to provide sustained supply can be understood. Although high oil prices do have an impact on the growth globally but the rate of responsiveness to high prices has not been as substantial till now, at present oil has become a necessity to meet fundamental energy requirements and the absence of substitute resources on a mass level is mainly responsible for the situation. In any given scenario we see that oil will remain the fundamental and the most basic resource for meeting the glob al energy requirements at least for a few decades. The recently revised figures by the international energy agency show that over the next 22 years the supply of oil will only increase at half the pace then it was originally anticipated to which will be about 13 to 18 million barrels per day as compared to previously anticipated 29 million barrels per day. The figures further suggest that the development and discovery pace of new oil reserves and supply of new oil to the market will require serious efforts if the world demand for oil has to be met and a global energy crisis has to be averted. The scenario suggests that if some drastic discoveries are not made, oil rationing will be done in countries to accommodate the need for growing and developing countries, further more countries will have to take effective steps in withdrawing oil products subsidies without triggering massive inflation so as to curb the growing demand for oil. A fierce battle will also begin for domination over scare resources, this can range from tough price wars to even geo political tensions and ultimately even leading to wars. A deep and prolonged recession can be one of the likely outcomes if an energy crisis takes the world in its grip. Quickly shooting up oil prices may not be the only fate the world may face if countries which are non-OPEC but they do possess significant oil reserves step up to the plate and in collaboration with major oil consuming countries make the oil available in the international market, currently these resources are not being developed and made use of due to the massive investment needed in developing them and the uncertainty relating to demand, not to forget the economic crisis the world has been gripped by. If these countries are able to collaborate and make use of the idle resources then the predictions of massive rise in oil prices in the next decade will fade, although the prices of oil will rise in the future but in a more orderly and controlled fashion without causing any economic turmoil or crisis. (Kate et al, 2008) Steps and measures will be required to change the scenario from an Oil supply constrained condition to a more energy sustainable globe. It is a fact that the world needs time to adapt itself to new measures and steps to reduce the dependence on oil and use the latest technology to develop renewable energy resources and supplement oil with the alternative fuels so that the strain on the oil supply be relieved. Iraq is one of the major producers of oil in the world but the Iraqi oil producing and exporting capacity has been negatively affected by the constant turmoil and violence in the country, if the conflict is resolved and the violence subsides then the capacity development and supply by Iraq can play a big role in calming the international oil market. (Kate et al, 2008) What needs to be understood that the size of the world oil economy is huge, it produces about 84 million barrels a day which is a huge size by any metrics. A resource being generated and utilized on such a large scale cannot be substituted over night, it will take a very long time for any viable alternative to be developed and for it to be available in a mass quantity. Only suitable alternatives being developed by using latest technology are the 1st generation bio fuels and by the estimates it becomes clear that although the supply and size of this option will increase but there will be no dramatic and significant rise in the bio fuels to have a big impact on the strain being experienced by the oil supply side. In recent years we have seen attempts made by geo-economic layers to secure access to oil reserves by getting into understanding with oil producing countries not just by business to business contact anymore but by a government to government contact. The importance of geo-politics and international relations can not be ignored In this scenario when the challenges to transform the world into an energy sustainable entity are mammoth and the complexity is expected to increase we set forth on the path to reforming the world oil economy. We see that the world is in the grip of a credit crisis, very high rates of inflation, imbalances in the balance of trade and a weak dollar, many economies are suffering from the resulting recession and they will find it very difficult to incorporate new measures to adapt themselves to the new situation that has arisen today. The recent windfall earnings made by the oil producing and exporting countries is also something that brings them to the forefront in the global arena, it remains to see whether these funds are used to develop new oil reserves so that the strain on the current reserves is reduced or these funds are withheld and used for other purposes. (Kate et al, 2008) The geographical and political tensions are already on the rise in the quest for energy and resources, specially since these recourses are in the hands of a small number countries with high concentration, the question that arises is whether the oil exporting countries and the oil consuming countries will be able to collaborate and co-operate with each other to turn the situation towards an energy sustainable environment or will things take a turn towards the worse resulting in conflict and competition for the dominance over resources by all means necessary. The situation will of course be dependent on the condition of the gap in supply and demand the level of growth being experienced in the world. Confrontations can be expected between these countries as one group will be of the countries holding the keys to al the resources and the other group will be the one in need of these resources. In recent times we have also seen threats by countries like Iran to not only halt petroleum supplies but also block the channel through which oil is supplied to the rest of the world from the middle east, this is one scenario which we are likely to witness incase there is war in Iran. In recent times King Abdullah of Saudi Arabia invited oil consuming and producing countries to the Jeddah summit to discuss the developing situation in the oil markets and the impact of oil prices on the world economy. Hopefully this can be the start of the collaboration and co-operation hoped for between the countries to a better tomorrow. How to cite World Oil Economy, Papers

Leadership Theory for Application & Development -myassignmenthelp

Question: Discuss about theLeadership Theory for Application Skill Development. Answer: The Chinese culture has some key features that highlight the need for teamwork. The collective orientation of Chinese culture is one of the main reasons that may help the company to explore the possibilities to introduce a variety of teams in the organization with different sets of objectives. The introduction of teamwork has both pros and cons in them. The benefits of introducing the Chinese culture are to take advantage of the core competencies of the teamwork culture of the people in China (Iszatt-White Saunders, 2014). This includes common purpose interdependence and group orientation. While the introduction of westernized styles can sometimes send a wrong message to the locals as they are not quite familiar with the westernized style of teamwork. As the general manager of the plant it will be my duty to manage the plants of the organization and ensure that the employees are divided into teams each with different responsibilities to facilitate a proper teamwork. It will be my duty to implement a friendly Chinese teamwork policy that would be formulated on the lines of the westernized policy. It would not be possible for me to have a look into the records of all the employees but have to figure out with the examples of a number of western companies like Motorola to deduce the results of how much effective the teamwork policies will be on the employees. The westernized leadership approach for leading the organization is not the immediate possible way of China. The following policy will have the least effect on the improvement of leadership in the industries of China (Lussier Achua, 2015). However the best practice that can be implemented in the organizations of China differs from the westernized styles. A worker is given the independence to work freely under his colleagues without fearing any communication, cultural or social gaps. References Iszatt-White Saunders, (2014), pp101 - 102.(Iszatt-White Saunders, 2014) Lussier, R. N., Achua, C. F. (2015).Leadership: Theory, application, skill development. Nelson Education.

Articles Of Confederation Essays (376 words) -

Articles of Confederation Articles of Confederation As the first written constitution of the United States, the Articles of Confederation created a legislature where each state was represented equally. The Congress had jurisdiction over foreign relations with the authority to form alliances and make treaties, make war and peace, sustain an army and navy, coin money, establish a postal service, create admiralty courts, and settle disputes between states. Thus, the power vested in Congress allowed it to operate with moderate control over the states. Another successful point was in the allowance of equal votes in Congress for each state and the decree that most decisions be decided by majority vote. However, through these articles, the United States government lacked a sufficient system of taxation. Under the Articles of Confederation the Congress had no power to tax the states, instead it depended on donations by the states. The states desired moderate government involvement and thus, were repulsed by the idea of federal taxation. Lacking in adequate funding, inflation soon overwhelmed the nation. Another obstacle in effective governing was that The Articles did not grant Congress the power to enforce its laws, instead depending on voluntary compliance by the states. In place of executive and judicial branches, The Articles created an inefficient committee system branching out of Congress. Most importantly, any amendment to the Articles of Confederation required the ratification by all the states, a measure that virtually eliminated any chance of change. The negatives of The Articles gradually magnified. The British refused to evacuate from forts in the American Old Northwest. Finally, Shay's rebellion in Massachusetts symbolized the feebleness of the nation, and inadequacy of the Articles of Confederation. Although, some states opposed a radical change in governmental form , it was inevitable by 1787. The Articles of Confederation provided effective management of expansion for the United States. It also gave Congress ample control over guidance of the country. However, The Articles were insufficient in several important matters. Without an executive branch the country lacked a clear, decisive leader. The Congress had no power to lay and collect taxes, nor did it possess the power to enforce its laws, making it virtually dependent on the states. On matters of amendment The Articles left little room for change, relying on an unanimous decision to alter it. Despite, success in expansion policies, The Articles of Confederation was a failure in creating a prosperous and efficacious country that could support and defend itself and its people.

Prelab Work in Organic Chemistry essay

Prelab Work in Organic Chemistry essay Prelab Work in Organic Chemistry essay Experimet Title: Simple Distillation and Characterization of Compounds Separation of ethyl acetate from microscale acetanllide by simple distillation at the semi- level, and characterization by spectroscopy of the two compounds using IR, and NMR by the determination of their physical properties. Experiment Purpose This experiment is purposely carrieed out in order to faclitate the separation of ethyll acetate from acetanilide through the process of simple distillation. This experiment will also seek to identify the IR spectroscopy, melting point, and density of the separated compounds. Questions Distillation: This a method of obtaining more purified liquids or identification of compounds where the initial liquid is first heated up to its boiling point. As the liquid boils, it vaporizes after which it is captured, condensed and collected later. Distillation is applied to the identification as well as purification of compounds. By applying the boiling point of a compound, which is an important physical property, it can be identified from a mixture of several compounds because it can evaporate at that temperature leaving the other compounds. When it comes to distillation as a purification process, the components of a mixture are separated by collecting the condensed compound at different temperatures. This experiment is a demonstration of how to purify a volatile liquid that contains impurities of non-volatile liquid will be done. The volatile component of the initial mixture will be ethyl acetate, which will be captured and condensed as pure ethyl acetate (Carey 72). Distillate: This concentrated liquid product has been extracted after the condensation of vapor in the process of distillation. Forerun fraction: These are usually the first fractions or the transition between fractions that are first distilled in a fractional distillation process. In fractional distillation, the differences of temperature between the points of boiling of the fractions are not large enough, and a series of simple distillations is required. The boiling punt of the forerun fraction is usually low hence, they are discarded being the first. What is the purpose of adding boiling stones to the distillation flask in a simple distillation experiment? The boiling stone is porous and thus contains air within it. Once the stone is heated, as the boiling process of the liquid continues, the air entrapped expands thus forcing its way out of the stone. When this heated gas mixes with superheated liquid it helps in balancing the liquid and the gas phase of the process. Thus, the heat needed in order liquid to change into gas will be reduced, and the transition of the two phases will not be explosive thus bumping fails. Moreover, the boiling stones will ensure even heating of the liquid as well as accelerate the rate of temperature increase. This uniform boil is important in acquiring effective results in distillation, because it will ensure that the light liquid is being distilled out in the process. Since, they inhibit bumping, which may result to the loss of some of the reagents they help in acquiring accurate results (Solomons 44). Objectives of the Experiment The objective is to separate ethyl acetate from acetanilide, which is volatile and non-volatile respectively using simple distillation. Further, the compounds will be analyzed using IR spectroscopy and their respective physical properties such as density and melting point. Procedure The procedure will involve the reaction of the two chemicals in the appropriate condition that would ensure that the expected results are obtained. Limiting reagents The samples to be used will be measured as 50mg of actinide. It will then be put in a conical flask and then 1ml of ethyl acetate will be added using a pipit. A boiling stone will then be added into the mixture. The apparatus will be mounted as shown below and a facet precaution will be taken where the first flask will be mounted on a sand bath.

MGM626-0902A-03 Economics for Decision-Making - Phase 3 Discussion Essay

MGM626-0902A-03 Economics for Decision-Making - Phase 3 Discussion Board - Essay Example Price elasticity will be elastic if a change in price causes a proportionately higher change in demand, i.e., the price elasticity of demand will be greater than 1. Hence a unit change in price will cause a change in demand which is larger than one unit. Inelastic price elasticity is where a change in price causes a proportionately smaller change in demand. In this case the value of price elasticity will be lesser than 1, i.e., a unit change in price will cause a change in demand which will be lesser than one unit. Unitary price elasticity is a case where the quantity demanded changes in proportion to the change in price, i.e., the change in price is equal to the change in demand. Hence the value of unitary price elasticity, as the name indicates, is 1. The reasons for the price elasticity being higher in the Brazil market can be analyzed and researched to find any possible alteration or substitute to the product that will reduce the price elasticity. Also, the trend of the currency exchange rate of Real to Euro over can be analyzed to predict the future values. This will indicate the potential revenue in Euro that can be earned from Brazil market and give a clear indication whether the venture will be profitable. Also, the prices in Real can be set in such a way that would attract more customer base and when the currency is exchanged, the company earns a significant profit

Indeterminate Sentence and Parole Major Criticisms Personal Statement

Indeterminate Sentence and Parole Major Criticisms - Personal Statement Example The main central of indeterminate sentence and parole major criticisms is that neither rehabilitation nor criminal sanctions’ cardinal purpose is the attainable goal. The attainable and suitable aim of justice supported is punishment. Correctional officials have clinched indeterminate sentence outside their intractable desire to regulate the convicts’ behavior, and that is both evil and hypocritical. Effect of the indeterminate sentence can be partly viewed to be overcrowding in prisons. The rehabilitation model’s hypocrisy, disparate sentence, non volitional participation in programs by prisoners, and irrational and unpredictable paroling decisions all pilot to unrest, violence, and prison alienation. In researcher’s view, he would support abolition of both parole and indeterminate sentence. Indeterminate sentence presents disparate sentences obligated for similar crimes. Those disparities reflect socioeconomic and racial prejudices. Indeterminate sentenc e and parole require more supervision time costs regarding the administration, yet they do not satisfy the retributive sentiments of the public. As earlier mentioned, indeterminate sentence causes overcrowding in prisons which may easily result into disease outbreaks in the prison; this is a punishment to human healthy rather than a way of rectifying their behavior. Parole requires enormous expenses due to incompetence and corruption within the system. In addition, there is inaccurate knowledge of those who would be previously convicted.

Questions on Global Issues Essay Example | Topics and Well Written Essays - 500 words

Questions on Global Issues - Essay Example egitimacy as a source of national identity, will open doors for other mediums such as religion and culture to fill the void for nationalism and further threaten the state. This struggle is reminiscent of what Samuel Huntington wrote in his book The Clash of Civilization, he notes that in the post-Cold War era, wars and conflicts will be fought not because of economic or ideological reasons, but because of cultural phenomenon brought about by clashes among civilizations. He argues that Western instruments of modernity will create conflicts with the non-Western world due to the isolation and aggression that it will create. With globalization bringing nations and cultures together, non-Western cultures may feel isolated and threatened. In order to protect themselves, and with no apparent formal channel to do so under the nation-state, religion –being inextricably linked and identified with culture, becomes a crucial refuge and a powerful tool to fight back. However, due to the changes in today’s world – deeper integration between nations and economies, rapid developments in communications and technology (including instruments of war), blurring of national borders, and a growing animosity towards the Western world due to the spread of information among different nations and cultures; conflict, including those propelled by religious beliefs, have taken a new and more complicated face. Religious warfare, unlike the traditional conduct of war, has become more complicated to address because, as Mark Juergensmeyer notes, religious struggle (1) gives the moral authority for extremists to embark on â€Å"catastrophic acts with biblical proportions,† (2) takes generations to succeed, and (3) provide both a personal and symbolic redemption for its perpetrators. By elevating their struggles to a cosmic war, religious extremists not only elevate their fight to be one of good against evil, they also impact public consciousness, bringing awareness, and at times sympathy, to

Using The Evaluation Framework Economics Essay

Using The Evaluation Framework Economics Essay The possession of an ownership advantage gives a firm the opportunity to sell goods overseas but it fails to explain why this is carried out through production in the foreign market rather than exporting to the foreign market. As a result, there is the need for an evaluation framework. LEARNING OBJECTIVES By the end of this Unit, you should be able to understand and grasp the following: the importance of an evaluation framework; the 4 criteria of the evaluation framework; assess the contribution of MNEs in a foreign country by using the Evaluation Framework. THE EVALUATION FRAMEWORK The contribution of MNEs to the development of the host nation, more particularly developing countries or LDCs has been the subject of much debate over the years. Whilst it is generally accepted that MNEs do contribute by way of technology transfer, skills diffusion and by bringing much needed finance capital, nevertheless criticisms abound as to the negative impact of MNEs in that they are viewed as exploiting the local labour force, they transfer outdated technology, and they strip the LDCs of much needed resources. However, MNEs were and still remain a very important ingredient of growth, especially for developing countries. This is why it is crucial for a host countrys government that it should be able to assess FDI in a policy context. The latter process is usually done by way of an Evaluation Framework. An evaluation framework usually encompasses 4 criteria. 3.3 Efficiency of Resource Allocation Efficiency of resource allocation relates to the extent to which there exist complementarities between of economic interests between the multinationals and the host countries. In a similar vein, it highlights the following: under what conditions do the operations of the TNC in a host country contribute to the world economic welfare that could not be achieved before? However, the presence of MNEs in host countries is often prompted by government-induced imperfections including protection from imports. Such a situation mainly occurred when countries were adopting an import substitution industrialization strategy. Adopting an import-substitution strategy entailed a high level of protection, via tariffs, import restriction measures and quotas, which discriminated against exports via explicit and implicit tax of export activities and an overvalued foreign exchange rate. Also, the government used investment license, differential taxes, tax holidays, exemptions and remissions to influence resource allocation between industries and sectors. The proponents of IS strategy firmly believed that they would be able to meet the domestic demand for manufacturing products; provide employment opportunities for skilled labour; ease pressure on the balance of payment and strengthen the long term productive capacity of the economy by importing the production technology via foreign firms  [1]  and by using the infant industry argument. Under such an era of protectionism  [2]  , MNEs were mainly regarded as being of a market-seeking  [3]   nature. Firms set up plant within foreign nations in order to supply their national markets in the most profitable way possible. The key location advantages (in Dunnings terminology) which determined these market-seeking investments were the cross-border transport and communication costs; artificial barriers (import restrictions) to trade in goods and services; the size, income per capita and the expected growth of the local market. Though cost considerations were deemed important and even decisive in certain marginal markets, an efficiency-seeking motivation was deemed to be of a very secondary nature (Pearce, 1999). However, the overwhelming consensus is that IS was a failure  [4]  . IS strategy has turned out to be self-defeating since it has resulted in huge increases in imports of equipment and inputs while transfer pricing constituted a severe drain on foreign exchange. Also, IS granted excessive protection to industries producing inefficiently non-essential goods for high-income elite. Furthermore, fiscal credit and exchange rate policies, coupled with subsidies on imports of capital goods, made it possible and advantageous to entrepreneurs to rely on high capital intensive equipment produced abroad and technology unsuited to the factor proportions prevailing in less developed countries. As a result, a new orthodoxy emerged in the late 60s and early 70s which stressed the role of exports of labour intensive manufactures as an engine of growth. This represented a return to the static theory of comparative advantage with trade based upon different factor proportions prevailing in various countries which meant that the pendulum turned full swing for development policy in LDCs from import substitution to manufactured exports. Export oriented strategy not only encourages free trade  [5]  , but also the free movement of capital, labour, enterprises and an open system of communication. It also entailed more efficient allocation of resources with firms competing internationally  [6]  based on their relative comparative advantages. These considerations, coupled with the emergence of trade blocks, were factors motivating changes in the strategic orientation of MNEs. MNEs underwent a complete restructuring of their global and regional supply profiles. This entailed locating  [7]  manufacturing operations in only a few countries but exporting for a wider market. Each subsidiary were opened to a fully competitive market situation which permitted the realisation of economies of scale and the attainment of optimal efficiency in production (Pearce, 1999). The where to produce clearly gained in prominence during such an era which led to MNEs redistributing their unchanged ownership advantages in order to create an international network of subsidiaries  [8]  which optimised their supply of established range of products. Thus, investments undertaken by MNEs were mainly of an efficiency-seeking nature. However, one should not underestimate the crucial role played by the government during that period. It was not only the choice of trade strategy but also the appropriate role of government policy which was at the heart of the development issue. For example, export-oriented growth and appropriate macroeconomic policies  [9]  were mutually of economic development in the NICs. The integration of NICs into world and regional economies was essential for their long-term growth. This required less government intervention and greater reliance on private initiatives and market forces. It provided an environment conducive to foreign investment and domestic entrepreneurship. The Government was expected to actively promote economic growth and use its resources to direct and support the private industry. It was the pursuit of such appropriate policies by these developing countries governments permitted shifts in their pattern of international specialisation in response to the changing structure of their comparative advantage at different levels of industrial development. As a result, the efficiency of resource allocation improved, the rates of growth accelerated, with benefits accruing to all concerned. DISTRIBUTION Distribution relates to the extent to which the gains arising from the MNEs operations are distributed between the partners. The host country would demand a fair share of the benefits created by the investment. However, the identification of a fair distribution is very difficult since it is almost impossible to price correctly some contribution such as technology diffusion and managerial expertise which are intangible in nature. In addition, the issue of distribution is even more contentious especially when profits of the multinationals are due less to the efficiency of resource allocation and more to market distortions or imperfections created and sustained in the first place by the government to attract these foreign firms. Also, the distribution of such rent is influenced by the relative bargaining strength of the multinationals and the host governments in the light of factors such as tax concessions, tariff protection and labour training. In this light, it may be argued that there is a direct relationship between the bargaining strength of the host country and its level of industrialization such that, the lower the industrialization level, the weaker its bargaining power. Finally, host nations are unable to extract their fair share of benefits because imperfections in the market for factors of production in which the multinationals are strong permits them to earn monopoly rent on these factors. SOVEREIGNTY Sovereignty relates to the ways in which the multinational may compromise the economic independence of host nations in either the short or long term. It highlights how the behaviour of multinationals may compromise the effectiveness of certain aspects of the host countries policies. For example, the intra-group transfer of rent, via transfer pricing practices, may undermine the autonomy of the host countries in areas such as fiscal policy, monetary policy, trade policy and its attempt to control and organize the structure of industries. SELF RELIANCE Self-reliance relates to the ways in which the operations of the multinational may undermine the viability or independence of local firms or enhance their potential. The self-reliance issue also crops up during the investigations of the impact of multinationals on the industrial structure of the host nations; for e.g. the level of concentration and/or modes of operations. It is also concerned with whether the operations of multinationals in the host nations may either enhance or hold back the availability of particular types of skills for local enterprises since there are claims that multinationals remunerate better their employees than local enterprises. However, there is no reason as to why the relationship between local enterprises and multinationals should be a competitive one. They may in fact complement each other rather than act as rivals. For e.g. multinationals may have recourse to indigenous forms for their supply of inputs and this may lead to significant benefits for the indigenous firms by way of improved technology, better quality control procedures and diffusion of skills. EXERCISES 1. MAURITIUS CASE STUDY Mauritius is unique in having had a wealthy class of sugar plantation owners who were actively seeking to diversify their investments in the first years of independence. They have experimented with horticultural and industrial exports, as well as with tourist facilities, for many years. It took the arrival of Hong Kong and Taiwan textile firms to get industrialization going, however. And South African hotel chains first brought the tourist facilities up to world class standards. Why couldnt they do it alone? The key missing ingredient was the much vaunted keystone of the new economy: knowledge. Mauritian investors lacked the depth and breadth of knowledge needed to create viable industry and tourism on their own. The overseas Chinese and South African investors brought in-depth knowledge of how to run an efficient firm. They also had intimate knowledge of customers and their preferences, as well of what the competition was offering. They were able to train the Mauritian workforce, interspersing production lines with faster Chinese workers and more flexible Indian ones to bring up productivity. Domestic investors, whether the sugar barons or more locals of more modest and ethnically diverse origins, unanimously reported that they were not squeezed out by foreign investment. On the contrary, they worked with, learned from, and in many cases bought out foreign investors. Ethnicity has been handled delicately in Mauritius, in surprising contrast to analysts predictions at independence. The few dozen Franco-Mauritian sugar barons who controlled the economy at independence in 1970 faced the classic South African nightmare of being washed into the sea. The majority of the electorate comprised landless descendants of cane-cutters brought in from the Indian subcontinent as contract labor. Yet Mauritians found a stable accommodation, in both politics and the economy. The constitution explicitly recognizes ethnic minorities, providing for 10 percent of parliamentary seats to go to also rans from ethnic minorities that would otherwise not be represented. The tiny new polity attained in two decades an economic transition from monocrop Sugar Island to a balanced economy in which textiles, tourism and sugar are the pillars. New forays are being made into business services, information technology and other diverse export products. Indo-Mauritians are still minimally represented as entrepreneurs, though they dominate the civil service. Sino-Mauritians, hitherto concentrated in smallscale commerce, enhanced their status through association with Hong Kong and Taiwan industrialists whose knowhow and investment initiated the textile sector. Economic tensions are worked out in annual tripartite negotiations between labor, government and employers, most of whom are Franco-Mauritians. Sound institutions have played a critical role in the process. The rule of law has prevailed consistently. The sturdy financial sector, led by Mauritius State Bank since 1828, provides investment capital to both domestic and foreign investors. The British tradition schools graduate fully bilingual, often tri- and quadrilingual students, whom employers find a great asset in the new global economy. Foreign And Local Investment In Mauritius Mauritius was chosen as a case study because it has a reputation as a country in which foreign investment has played a critical and unanticipated role in industrialization, driven largely by good policies. The case study bore this out, but added great complexity to the portrait. Ethnicity was a complicating factor that could have derailed growth, and sound institutions played as important a role as policies in its success. An Overview of Investment Policy and Performance in Mauritius In the 1960s as independence from Britain approached, James Meade and Burton Benedict published several studies that foresaw a bleak economic and political future for Mauritius.11 Meade proposed strategies to improve the standard of living while taking into consideration projected continuing rapid population growth (then over 3% per year). He foresaw pressures of population growth on economic resources on this small volcanic isle and suggested several mitigating strategies, including increasing productivity, encouraging emigration and family planning. Burton Benedict challenged Meades proposed solutions, asserting that even if Meades suggestions on ways to increase productivity were followed, this would not produce results strong enough to counter the population growth problem. To the Malthusian logic in these first analyses, Benedict added concern over the future political stability of Mauritius. He analyzed the 1953 and 1962 censuses and documented the impact of ethnic, religious, caste and linguistic fragmentation on local politics-from the national level to the squabbles over a repair contract for a small town road. He began with the observation that Mauritians rarely identified themselves and others as Mauritians. In 1962 people from the Indian subcontinent were the majority, but did not comprise a single ethnic group. 50.5 percent of the population was Hindu and 16.2 percent Muslim Chinese comprised 3.4 percent of the population, and the General Population, mainly Creoles and Franco-Mauritians constituted 29.9 percent. Although Africans had been brought to Mauritius in slavery, African languages and ethnic groups had melded into a mixed population speaking the Creole French patois that gradually became a lingua franca of the Island. The Indo-Mauritian population was 63 percent Hindu Sanatan and 19 percent Muslim Hanafi. There were generally endogamous minority sects of both major religions (the largest of which were Arya Samaj and Ahmadiyya), as well as Indian Christians. Castes had consolidated into a bipolar mode. They had no corporate organization, but were generally endogamous. Chinese were nearly evenly split between Christians and Buddhists. Indo-Mauritians were further split by language, which sometimes had ethnic connotations. Hindi was the mother tongue of 36 percent of the total population and Urdu of 13.5 percent. Smaller Tamil and Telugu groups rarely intermarried with other Hindus. The General population of metisse, Franco-Mauritians and others was 96 percent Roman Catholic. The Franco-Mauritian families, are mostly descendants of French nobility who fled there during the French Revolution. The British gained control of the island during the Napoleonic wars andgoverned it until 1968, but the French families dominated the domestic society and economy. For the dependency theorists of the 60s, Mauritius was an archetypical monocrop colonial economy. It depended on sugar for 99 percent of exports and one third of GDP. Cane fields occupied 90 percent of arable land. Of that, 55 percent was owned by 25 Franco-Mauritian families, often dubbed sugar barons. The remaining 45 percent of sugar estates were owned by 84,000 small farmers, predominantly of Indian origin. Almost no food was produced on the island. The majority who would dominate numerically in a democratic Mauritius was a land-poor population of former indentured laborers on sugar plantations from the Indian subcontinent. Until recently they had been considered transients, not counted as members of the population. Benedicts complex analysis of the ethnic situation did little to lift the prevailing pessimism about Mauritius future. The colonial government commissioned Meade to head an appointed commission to produce an economic strategy. The Meade Report was to strongly influence the government in creating its initial import substitution industrialization policy. The key recommendations in the Meade Report included tariff protection for certain local industries, a decrease of corporate tax from 40 to 30 percent, tax holidays for five of the first eight years of a company, priority of capital expenditure for projects leading to productive employment and the abolition of tariffs on importation of machine tools and equipment. These policies already focused on investment promotion, a policy which successive Mauritian governments have consistently favored. Even as early as 1960, investment in Mauritius reached 30% of GDP, a figure only recently achieved by the most successful economies in East Asia and largely unheard of in the developing world. At this time, however, neither the new government of Mauritius, nor others in the developing world, had recognized the connection between investment policy and the larger political and economic context. A number of trends of the first government, which was dominated by the Mauritian Labour Party from independence in 1968 until 1982, limited the effectiveness of investment promotion incentives. One concern of foreign investors was political stability. There had been some communal violence just before independence, and the new Hindu dominated government maintained a fragile truce with minorities, including Muslim, Chinese and Franco-Mauritians. Other concerns centered around macroeconomic policies. Currency controls and protective tariffs designed to nurture import substitution industries [for the tiny national market], raised energy and transaction costs and times for potential exporters. The involvement of government in labor/ management negotiations and the creation of state corpora tions in key sectors led investors to take a wait and see attitude toward government. And the fledgling transport and telecommunications infrastructure was barely adequate. The idea of creating an export promotion zone (EPZ) was added to the policy mix in 1970, only two years after independence. It was inspired by the success of Taiwan. Within a year the EPZ legislation was passed. In a stroke of brilliance, industrial leaders and policy-makers realized that Mauritius, being a small island with readily controlled access, could declare the whole island an EPZ-it did not need to have a fenced area. This allowed investors to build in dispersed locations, to facilitate transport for their workers and/or their products. Only a few foreign investors took advantage of the EPZ law in the 1970s, however. Mauritius isolated location in the Indian Ocean, its currency controls and uncertain political situation reportedly influenced the first investors to limit their commitments. What became the flagship textile firm, for example, was set up initially to do only the manufacturing marketing and management were based in Japan and Hong Kong respectively. By the end of the 1970s Mauritius was experiencing many of the same problems that other African countries had with state corporations, protective tariffs, and currency controls. With no petroleum resources, it had been hit hard by OPECs escalation of oil prices and the global economic distortions that ensued. Government was running unsustainable annual deficits, the balance of trade was negative, industry was stagnant, and foreign exchange rationing slowed down all transactions. A devastating cyclone catalyzed a change in direction and in government. An alliance of former opposition parties, the Mauritian Militant Movement (MMM) and Mauritian Socialist Party (PSM), won the 1982 elections, changing the dominant party position for the first time since electoral politics was introduced in 1947. The new government scrapped the mixed strategy of the 1970s, liberalized the currency, retreated from subsidizing state corporations, and put its full efforts into voluntary structural adjustment and promoting export-led growth. In retrospect, a recent government report sees that decision as an inevitable logical consequence of Mauritius geographic situation. The report, Mauritius at Crossroads (1995) explains that as a small island, physically limited by lack of arable land and relying solely on sugar for foreign exchange, Mauritius was condemned to turn to an aggressive export strategy. However, it was not until the early 80s that foreign investment actually took off. And, it appears, partly as a consequence so too did domestic investment take off. Today, according to Mauritius at Crossroads, every Mauritian is taught the concept Export or Die. This philosophy has led to the development of a sound business environment which is friendly to investors, both local and foreign, and which offers an attractive investment incentives package to compensate for the lack of resources and the no-longer inexpensive labor force. The older generation of industrial and government leaders also stresses that Mauritians have learned to make a virtue of their ethnic diversity. The switch to an export-led strategy came at a time of crisis. The ill-paid labor force was still predominantly of Indian origin, as was the government, whereas the industrial sector was led by Franco-Mauritians, Hong Kong/Taiwan investors and a few Sino-Mauritians. Several interviewees described the moment as if they had looked at one another, then at the surrounding hundreds of miles of ocean, and decided that they would sink or swim together. For the export strategy, Mauritius needed to reach out to Hong Kong and Taiwan textile magnates, who had the capital and skills to organize a competitive industry. Franco-Mauritian local capital and know-how, and contacts were needed to open up European markets. A cooperative, trainable labor force was needed to attract investors. And government needed to be fully committed to its investor-friendly strategy. Mauritius had hard-working bilingual predominantly male labor force. They were skilled in farming, not industrial work. Most analysts doubted that Hindu or Muslim women would ever come out of the home and into the workplace. Within six or seven years, Mauritius had full employment, and industrial workers were mainly women. Policies were the main, but not the only factor in investment decisions. Promoting investment has been on the top of the governments industrial agenda throughout the different development phases, but the understanding of what works for investors, for government and for the society as a whole, has evolved continuously. The first clearly defined policy came in 1961, as the colonial government began to prepare for an independent Mauritius, with the Industrial Development Tax Relief Act. The Export Processing Zone took effect in 1971, as one of the first acts of the newly independent government. Support services for exporters were given a fillip in 1981 with the Export Service Zones Act. In 1985, the Mauritius Export Development and Investment Authority (MEDIA) was established as the executive arm of the Ministry of Industry. Its main responsibilities are to attract investment, promote exports and manage industrial estates. Investors clearly weighed these incentives against the inconveniences created by location, lack of local food and fuel supplies and small market size. The only major policy disincentive for foreign investors is that they are not allowed to own land. Government has compensated by providing fully equipped industrial sites for lease. Hotel investors generally partner with a local landowner. In the 1980s Mauritius offered inexpensive labor, but within a decade the development of the textile and hotel sectors had brought wages to a middle level, by world standards. From the late 1980s through early 1990s, Mauritius experienced full employment. Rising wages have gradually priced the textile industry out of its mass-production T-shirt lines, and forced b oth government and industry to rethink development strategies. The Industrial Expansion Act of 1993 was a partial response to this dilemma. Through it Mauritius confirmed its commitment to permanent zero tax rates for exporters, and added a bundle of new-targeted incentive programs, providing for high technology investors, offshore financial services and freeport services. The full range of incentive programs Mauritius which were offered is shown in Table 6.1. To increase confidence in the industrial sector in general, corporate tax for manufacturers who do not qualify for the EPZ zerorate was cut from 35 to 15 percent. Table 3.1: Manufacturing Fiscal Incentives INCENTIVE SCHEMES QUALIFYING ACTIVITIES INCENTIVES Export Enterprise (EPZ)  ·Ã¢â€š ¬Ã‚  All manufactured goods for exports  ·Ã¢â€š ¬Ã‚  Produce of deep sea fishing (Including fresh or frozen fish)  ·Ã¢â€š ¬Ã‚  Printing and publishing as well as associated operations  ·Ã¢â€š ¬Ã‚  IT activities  ·Ã¢â€š ¬Ã‚  Agro Industries  ·Ã¢â€š ¬Ã‚  No customs duty, or sales tax on raw materials and equipment  ·Ã¢â€š ¬Ã‚  No corporate tax  ·Ã¢â€š ¬Ã‚  No tax on dividends  ·Ã¢â€š ¬Ã‚  No capital gains tax  ·Ã¢â€š ¬Ã‚  Free repatriation of profits, dividends and capital  ·Ã¢â€š ¬Ã‚  60% remission of customs duties on buses of 15-25 seats used for the transport of workers.  ·Ã¢â€š ¬Ã‚  Exemption from payment of half the normal registration fee on land and buildings by new enterprises.  ·Ã¢â€š ¬Ã‚  Relief on personal income tax for 2 expatriate staff Pioneer Status Enterprise  ·Ã¢â€š ¬Ã‚  Activities involving technology and skills above average existing in Mauritius and likely to enhance industrial and technological development.  ·Ã¢â€š ¬Ã‚  Applicant companies may come under one of three broad categories: (a) new technology, (b) support industries and (c) service industries.  ·Ã¢â€š ¬Ã‚  No customs duty, or sales tax on scheduled equipment or materials.  ·Ã¢â€š ¬Ã‚  15% corporate tax  ·Ã¢â€š ¬Ã‚  No tax on dividends  ·Ã¢â€š ¬Ã‚  Free repatriation of profits, dividends and capital Strategic Local Enterprise  ·Ã¢â€š ¬Ã‚  Local industry manufacturing for the local market and engaged in an activity likely to promote and enhance the economic, industrial and technological development of Mauritius.  ·Ã¢â€š ¬Ã‚  15% corporate tax  ·Ã¢â€š ¬Ã‚  No tax on dividends Modernization and Expansion Enterprise  ·Ã¢â€š ¬Ã‚  Two broad categories:  ·Ã¢â€š ¬Ã‚  Investment in productive machinery and equipment, such as automation equipment and processes and computer applications to industrial design, manufacture and maintenance CAD/CAM)  ·Ã¢â€š ¬Ã‚  Investment in anti-pollution and environment protection technology to be made within 2 years of date of issue of certificate.  ·Ã¢â€š ¬Ã‚  No customs duty on production equipment  ·Ã¢â€š ¬Ã‚  Income tax credit of 10% (spread over 3 years) of investment in new plant and machinery, provided at least Rs 10 million are spent and this occurs within two years of date of issue of certificate. (This is in addition to existing capital allowances which amount to 125%of capital expenditures.)  ·Ã¢â€š ¬Ã‚  Enterprises incurring expenditure on anti-pollution machinery or plant benefit from a further incentive, i.e. an initial allowance of 80% instead of the normal 50% Industrial Building Enterprise Construction for letting purposes of industrial buildings or levels thereof, provided floor space is at least 1000 square meters. Special conditions: The applicant can only be a company intending to erect an industrial building to be let to the holder of a certificate (other than an industrial building enterprise certificate) issued under this Act or to an enterprise engaged in the manufacture or processing of goods or materials except the milling of sugar.  ·Ã¢â€š ¬Ã‚  15% corporate tax  ·Ã¢â€š ¬Ã‚  No tax on dividends  ·Ã¢â€š ¬Ã‚  Registration dues for land purchase: 50% exemption  ·Ã¢â€š ¬Ã‚  There is also a non-fiscal incentive, namely the disapplication of the Landlord and Tenant Act, i.e. rent control Source: Destination Mauritius, Mauritius Export Development and Investment Authority (MEDIA). Table 3.2: Services Fiscal Incentives INCENTIVE SCHEME QUALIFYING ACTIVITIES INCENTIVES Offshore Business Conduct of business with non-residents and in currencies other than the Mauritian Rupee. Activities include: offshore banking, offshore insurance, offshore funds management, international financial services, operational Headquarters, international consultancy services, shipping and ship management, aircraft financing and leasing, international licensing and franchising, international data processing and other information technology services, offshore pension funds, international trading and assets management, international employment se

Ethan Frome Readers Response :: Essays Papers

Ethan Frome Readers Response I thought the novel Ethan Frome by Edith Wharton was one of the best books that I have ever read. When I started reading the book I thought that it would be about the accident that Ethan experienced instead of the incidents behind it. The novel is also well written, Edith Wharton did a fine job writing a book that I never wanted to put down. I felt as though the story was being told to me and that I actually knew Ethan and Mattie. As well I enjoyed the way that Edith Wharton used a lot of adjectives to make the scenes and story come alive, for example in the end of the story during the sledding scene I actually felt as though I was on the sled with Ethan and Mattie. Only two things in the novel bothered me, the fact that in the beginning of the novel I thought that I would find out what happened to Ethan in more detail and I also wanted Mattie and Ethan to run off together. In the opening of the novel, I thought that I would learn more about the accident and when I finished the novel I thought that I was â€Å"left hanging† when Edith Wharton really did not tell you what happened after she made it seem as thought that is what the novel is about. I also wanted Mattie and Ethan to live happily ever after, maybe it was the female in me but I think that they should have run off together instead of being sensible. In the end of the novel, I was really surprised to find out that Ethan is still married to Zeena, I thought that Zeena might leave Ethan and then Ethan and Mattie could get married. I did notice some of the symbolism that Edith Wharton uses in her novel for example, that there is striking symbolism in the imagery that the author uses, primarily that of winter which depicts coldness, detachment, bleakness and seclusion. I also think that Edith Wharton chose winter as a theme in this novel because it symbolizes emotional and physical isolation, and death that surrounds Ethan. Similarly, the name of the town, Starkfield, is symbolic of Ethan's boring life. Just as Ethan’s house was once new and beautiful it is now worn by many harsh winters in Starkfield, as was Ethan after the accident.