Bhojraj Lee Paper free essay sample

Bookkeeping Research Center, Booth School of Business, University of Chicago Who Is My Peer? A Valuation-Based Approach to the Selection of Comparable Firms Author(s): Sanjeev Bhojraj and Charles M. C. Lee Source: Journal of Accounting Research, Vol. 40, No. 2, Studies on Accounting, Entrepreneurship and E-Commerce (May, 2002), pp. 407-439 Published by: Blackwell Publishing for the benefit of Accounting Research Center, Booth School of Business, University of Chicago Stable URL: http://www. jstor. organization/stable/3542390 . Gotten to: 15/01/2011 08:35 Your utilization of the JSTOR chronicle demonstrates your acknowledgment of JSTORs Terms and Conditions of Use, accessible at . http://www. jstor. organization/page/data/about/strategies/terms. jsp. JSTORs Terms and Conditions of Use gives, to some degree, that except if you have acquired earlier authorization, you may not download a whole issue of a diary or various duplicates of articles, and you may utilize content in the JSTOR chronicle just for your own, non-business use. If you don't mind contact the distributer in regards to any further utilization of this work. We will compose a custom article test on Bhojraj Lee Paper or on the other hand any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Distributer contact data might be gotten at . ttp://www. jstor. organization/activity/showPublisher? publisherCode=black. . Each duplicate of any piece of a JSTOR transmission must contain a similar copyright notice that shows up on the screen or printed page of such transmission. JSTOR is a not-revenue driven assistance that helps researchers, analysts, and understudies find, use, and expand upon a wide scope of substance in a confided in computerized file. We use data innovation and devices to expand profitability and encourage new types of grant. For more data about JSTOR, if it's not too much trouble contact [emailprotected] organization. Blackwell Publishing and Accounting Research Center, Booth School of Business, University of Chicago are working together with JSTOR to digitize, save and stretch out access to Journal of Accounting Research. http://www. jstor. organization Research Journalof Accounting Vol. 40 No. 2 May2002 in Printed U. S. A. Who Is My Peer? A Valuation-Based Approach to the Selection of Comparable Firms SANJEEV BHOJRAJ AND CHARLES M. C. LEE* Received4January2001;accepted4 September2001 ABSTRACT This investigation presents a general methodology for choosing equivalent firms in showcase based research and value valuation. Guided by valuation hypothesis, we build up a warrantedmultiple for each firm, and distinguish peer firms as those having the nearest justified numerous. We test this methodology by analyzing the adequacy of the chose equivalent firms in anticipating future (one-to three-year-ahead) big business worth to-deals and cost to-book proportions. Our tests incorporate the general universe of stocks just as a sub-populace of socalled new economy stocks. We reason that practically identical firms chose thusly offer sharp upgrades over equivalent firms chose based on different strategies. 1. Presentation Accounting-based market products are effectively the most widely recognized procedure in value valuation. These products are pervasive in the reports and proposals of sell-side monetary investigators, and are broadly utilized in *Johnson Graduate School of Management, Cornell University. We express gratitude toward Bhaskaran Swaminathan, just as workshop members at the Australian Graduate School of ManConferagement, Cornell University, Indiana University, the 2001 Journal ofAccountingResearch ence, the 2001 HKUST Summer Symposium, Syracuse University, and an unknown arbitrator, for supportive remarks. The information on investigator profit conjectures are given by I/B/E/S International Inc. 407 of 2002 Copyright University Chicagoon behalfof the Institute Professional Accounting, ? , 408 S. BHOJRAJ C. M. C. LEE AND venture investors decency sentiments (e. g. , DeAngelo [1990]). They additionally show up in valuations related with introductory open contributions (IPOs), utilized buyout exchanges, prepared value contributions (SEOs), and other merger and procurement (M) exercises. Indeed, even promoters of anticipated limited income (DCF) valuation techniques regularly resort to utilizing market products while evaluating terminal qualities. Regardless of their boundless utilization, little hypothesis is accessible to control the use of these products. With a couple of exemptions, the bookkeeping and money writing contains little proof on how or why certain individual products, or certain equivalent firms, ought to be chosen in explicit settings. A few specialists even recommend that the choice of equivalent firms is basically a fine art that ought to be left to experts. 2 Yet the level of subjectivityinvolved in their application is discomforting from a logical point of view. Besides, the atmosphere of persona that encompasses this method restricts its inclusion in budgetary examination courses, and at last undermines its believability as a genuine option in value valuation. In this investigation, we rethink the hypothetical underpinnings for the utilization of market products in value valuation, and build up an efficient methodology for the determination of similar firms. Our reason is that the notoriety of market-based valuation products originates from their capacity as a great satisficingdevice (Simon [1997]). In utilizing products to esteem firms, experts relinquish a portion of the advantages of a progressively complete, however increasingly unpredictable, genius forma investigation. In return, they acquire a helpful valuation heuristic that produces acceptable outcomes without bringing about broad time and exertion costs. Truth be told, we trust it is conceivable to make up for a great part of the data these products neglect to catch through the sensible choice of similar firms. Our point is to build up an increasingly precise method for doing as such, through an intrigue to valuation hypothesis. In particular, we contend that the decision of tantamount firms ought to be a component of the factors that drive cross-sectional variety in a given valuation numerous. For instance, on account of the endeavor worth to-deals different, tantamount firms ought to be chosen based on factors that drive cross-sectional contrasts in this proportion, including anticipated productivity, development, and the expense of-capital. 3 In this soul, we use factors selected by valuation hypothesis and ongoing advances in evaluating the suggested cost-of-capital (I. . , Gebhardt, Lee, and Swaminathan [2001]) to build up a 1 For instance, Kim and Ritter [1999] talk about the utilization of products in esteeming IPOs. Kaplan and Ruback [1995] analyze elective valuation draws near, including products, in profoundly turned exchanges. 2For model, Golz [1986], Woodcock (1992), and McCarthy (1999). We utilize the endeavor worth to-deals proportion (EVS) as opposed to the cost to-deals (PS) proportion in lig ht of the fact that the previous is reasonably unrivaled when firms are differentially turned (we thank the official for calling attention to this). We likewise report results at the cost to-book (PB) proportion. We center around these two proportions due to their pertinence to misfortune firm, which are especially significant among the alleged new economy (tech, biotech, and media transmission) stocks. In any case, our methodology is general, and can be applied to any of the broadly utilized valuation products. WHO IS MYPEER? 409 warrantedmultiple for each firm dependent on huge example estimations. We at that point recognize an organizations peers as those organizations having the nearest justified valuation numerous. Our methods bring about two final results. In the first place, we produce justified products for each firmn-that is, a justified endeavor worth to-deals (WEVS)and a justified cost to-book (WPB)ratio. These justified products depend on precise varieties in the watched products in crosssection over enormous examples. The justified products themselves are helpful for valuation purposes, since they join the impact of cross-sectional varieties in firm development, productivity, and cost-of-capital. Second, by positioning firms as indicated by their justified products, we create a rundown of companion firms for each target firm. For financial specialists and examiners who like to lead value valuation utilizing market products, this methodology recommends an increasingly target technique for recognizing similar firms. For scientists, our methodology proposes another strategy for choosing control firms, and for separating a variable specifically compelling. Late strategy considers have exhibited that trademark coordinated control tests give increasingly dependable deductions in advertise based research (e. . , Barber and Lyon [1997], Lyon et al. [1999]). Our examination expands this line of research by introducing an increasingly exact strategy for coordinating example firms dependent on attributes distinguished by valuation hypothesis. Our methodology is intended to oblige both productive and misfortune firms, which have gotten inescapable in the purported new economy. So, the ap proach created in this paper can be helpful at whatever point the decision of control firms assumes an unmistakable job in the exploration structure of a market-related examination. We test our methodology by analyzing the adequacy of the chose similar firms in foreseeing future (one-to three-year-ahead) EVSand PB proportions. 4Our tests envelop the general universe of stocks just as a sub-populace of new economy stocks from the tech, biotech, and media transmission segments. Our outcomes show that similar firms chose as such offer sharp enhancements over equivalent firms chose based on different methods, including industry and size matches. The improvement is generally articulated among the supposed new economy stocks. The primary message from this investigation is that the decision of practically identical firms can be made progressively orderly and less abstract through the use of valuation hypothesis. On account of the EVSmultiple, our methodology nearly significantly increases the balanced r-squares got from utilizing just industry or industry-size coordinated determinations. The PB various is more difficu

Digressions in Venus and Adonis and Hero and Leander :: essays papers

Deviations in Venus and Adonis and Hero and Leander The sonnets Venus and Adonis and Hero and Leander have numerous similitudes. Venus and Adonis, composed by William Shakespeare (1593), is the tale of lovesick Venus and blameless Adonis. Venus endeavors to persuade Adonis to have cozy relations with her. In the sonnet Hero and Leander, composed by Christopher Marlowe (1598), Leander persuades the wonderful Hero to perfect their relationship in spite of her contentions. Another likeness of the two works is the diversions inside the sonnets. In V&A, the straying includes two ponies that are overwhelmed by desire and inevitably run off to mate in the forested areas. The diversion in Hero and Leander is additionally sexual in nature. It includes Neptune endeavoring to tempt Leander. The diversions in V&A and Hero and Leander have equal references to the work in general. The deviations likewise have comparative characteristics that demonstrate the impact of Shakespeare on Marlowe. The straying in Venus and Adonis happens during the first third of the sonnet. Shakespeare decides to have the ponies reflect the conduct of Venus and Adonis. The steed, Adonis’ horse, copies the activities of Venus. The steed is the attacker in the relationship; it is he who moves toward the jennet. He flaunts his quality and magnificence by skipping and stepping on the ground. After his showcases of solidarity and force the steed, â€Å"looks upon his adoration, and neighs unto her† (Shakespeare 41). Unmistakably the pony is importuning the jennet to submit to him explicitly. At the point when Shakespeare portrays the steed he expresses that, â€Å"this horse exceed expectations a typical one† (293). This statement legitimately relates the pony to Venus. The peruser realizes that Venus is of phenomenal status, she is a divine being and thusly is eternal. Shakespeare utilizes this information to connect the two characters. Venus is likewise extremely forceful in her relationship with Adonis. Shakespeare cleverly portrays the manner in which Venus shows her quality in a path like the steed. Venus takes, â€Å"over one arm the healthy courser’s rein, Under the other her delicate boy† (31-32). Venus is endeavoring to utilize solidarity to get her adoration, the manner in which the steed utilized his quality. Shakespeare is causing a reference to how To venus’ is taking what is usually the male job. The activities of the jennet in the diversion can be contrasted with the activities of Adonis in the sonnet.

The presence of racism in Hemi essays

The nearness of bigotry in Hemi expositions There are numerous inquiries that Hemingway's epic raises in the peruser, however I'm just going to discuss the nearness of bigotry in it. From the outset perusing one probably won't notice the indications of prejudice, and probably won't comprehend why the youthful Indian man murdered himself while his better half was bringing forth their infant. These inquiries can't be completely replied obviously, in light of the fact that we don't have the foggiest idea about the essayist's goals. Each announcement I'm going to make depends on my own supposition, others may have various translations of this novel. I believe Nick's dad and Uncle George knew about their bigot disposition, however they attempted to conceal it even from themselves. They attempted to go about as though they took a gander at the Indians as equivalent, for instance when Uncle George gave the two Indians (who were paddling the pontoons) stogies. This motion is especially significant, due to the unique importance of smoking in the Native American culture. I additionally believe that the absence of Nick's dad's confidence can halfway be brought about by his awful inner voice. This is the reason he needs Uncle George to console him: Goodness, you're an extraordinary man, okay. On the in opposition to the abovementioned, they now and again drop out of this job. For instance when Nick requests that his dad offer sedative to the Indian woman who is in the process of giving birth, the dad answers the accompanying? ...her shouts are not significant. I don't hear them, since they are not significant. This announcement plainly shows that Nick's dad doesn't focus on the enduring of an Indian lady, since she is just not significant. I accept this isn't the correct mentality for a specialist, who should help anybody without considering the individual's skin shading. Also, couldn't the sentence : I don't hear them, since they are not significant. allude to all Indians? Uncle George likewise shows total absence of compassion when the lady who is in incredible agony nibbles his arm. He says the accompanying: Damn squaw bitch!- which shows the he doesn't re ... <!

Joseph Stalin and First Five-Year Plan Essay

Unique The verifiable extent of this exploration exposition centers around the techniques embraced by Joseph Stalin in industrializing the Soviet Union through his First Five-Year Plan. Accordingly, the fundamental inquiry emerging all through this article is the accompanying: To What Extent Were Joseph Stalin’s Methods In Employing The First Five-Year Plan (1928-1932) Effective In Achieving His Original Industrial Aims? So as to have the option to dissect such disputable point, the exposition first tends to how Stalin moved toward the thought for monetary development, chiefly by utilizing three techniques: incorporated, order arranging, usage of political purposeful publicity crusades, and an attention on substantial industry. The consequences of industrialization are then broke down and contrasted with the initially proposed destinations. A great part of the exploration directed depended on essential wellsprings of proof just as auxiliary sources that most precisely portrayed the c ircumstance of the Soviet Union at that point and its encouraging through the predefined timeframe of the Stalin organization. Investigation of such records was additionally required so as to effectively reason the believability and legitimacy of the proof introduced so as to have the option to put together the ends with respect to the data. In conclusion, the utilization of historians’ understandings was utilized so as to validate asserts or give accommodating elective perspectives. This exploration paper along these lines presumed that, in spite of the fact that he did figured out how to extend tremendously interest in industry and power the country out of its regressive, agrarian state, Stalin didn't accomplish far reaching industrialization for the Soviet Union. Basically, the profound bureaucratization of the economy, working together with the specific highlights of the Soviet arrangement, delivered a mix of opposing powers starting from bureaucratic personal matters and imprudent political will. This would forestall the development of the correct blend of elements that would guarantee the ordinary working of the economy. Chapter by chapter guide Theoretical â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€2 Abbreviations and Glossary â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€ 4 Introduction â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€- 5 Stalin’s Realization for Industrialization 1. Clarifying the Five-Year Plan (1928 †1932) â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€- 7 Analysis of Soviet Model of Industrialization under Stalin 1. Stalin and Centralized Directive Planning â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€ 9 2. Stalin and Political Propaganda Campaigns â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€- 10 3. Stalin and Focus on Heavy Industry â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€- 13 Results of First Five-Year Plan 1. Improvement of Overall Industrial Sector â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€- 10 Conclusion â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€- 17 Notes â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€- Bibliography â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€â€19 Shortened forms and Glossary 1. 2. Focal Committee: Soviet Communist Party incomparable body, chose at Gathering Congress. 3. Gosbank: Gosudarstvenny bank SSSR (USSR State Bank); Soviet Union national bank and the main bank in the whole USSR from the 1930s until 1987. 4. Gosplan: Gosudarstvenniy Komitet po Planirovaniyu (State Planning Committee); board of trustees liable for financial arranging in the Soviet Union. One of its primary obligations was the making of Five-Year Plans. 5. Gossnab: State Supplies of the USSR; the state advisory group for material specialized flexibly in the Soviet Union. Essentially liable for the allotment of maker products to undertakings, a basic state work without business sectors. 6. Gulag: Glavnoe Upravlenie Lagerei (fundamental camp organization); inevitably responsible for Soviet death camps. 7. Mensheviks: Minority group of the RSDLP, established in 1903 8. NEP: New Economic Policy (1921-1929) presented by Lenin. 9. Pravda: the semiofficial paper of the Communist Party Presentation In October 1928, Joseph Stalin(1) executed the First Five-Year Plan (piatiletka) so as to reinforce the economy of the Soviet Union and quicken its pace of industrialization. Some portion of a progression of across the country, brought together activities in fast monetary turn of events, the First Five-Year Plan would turn into the reason for future by and large modern creation and improvement of substantial businesses (assembling and military goods).(A) Since the finish of the First Five-Year Plan, be that as it may, various records have surfaced either adulating or reprimanding Stalin’s model of financial development (contingent upon the interpreter’s inclination of results) comparable to the Soviet Union’s future turn of events. Albeit present day history specialists, including Evan Mawdsley(2) and Robert Gellately(3), banter over the degree of Stalin’s achievement in accomplishing the first points of the First Five-Year Plan, most of them will concur that he accomplished a critical and fundamental increment in mechanical development that would eventually lift the Soviet Union as a world class power. (E) Nevertheless, because of the lack of quality of essential assets beginning from Soviet documents and repeating banters among history specialists, a few challenges keep on existing in precisely characterizing the degree of Stalin’s achievement and whether his techniques were appropriate in utilizing the First Five-Year Plan most viably. Promoters of Marxism-Leninism attest that the coercive and rough technique in accomplishing significant industrialization was the most fitting and essential in both the monetary and social modernization of the USSR just as imperative for its endurance even with entrepreneur â€Å"enemies†. In any case, Non-Soviet Marxists, from Mensheviks to Herbert Marcuse(4), condemn this methodology for its drawn out adverse impacts on the economy and average workers, just as the significant imprint on the Soviet social life and standard of living.(F) Therefore, a basic assessment of the differing scope of chronicled understandings and examinations concerning this dubious subject should in this way be directed, making the subject of Soviet industrialization deserving of examination. This exploration paper, despite the constrained accessibility of Soviet essential sources and their questionable validity, will along these lines endeavor to respond to the accompanying inquiry: To What Extent Were Joseph Stalin’s Methods In Employing The First Five-Year Plan (1928-1932) Effective In Achieving His Original Industrial Aims? Along these lines, important knowledge into historians’ techniques in joining proof to help their cases and developing their contentions dependent on such proof will be picked up. So as to keep up lucidity and center, this exploration paper will basically talk about industrialization and will consequently spin around two subjects: First, the Soviet model of modern progression was not exhaustive and its accomplishments can just by ascribed and constrained to specific segments. Second, the strategies utilized by Stalin to accomplish industrialization and monetary modernization were uncertain and blocked total accomplishment of the propo sed objectives. Stalin’s Realization for Industrialization Clarifying the First Five-Year Plan (1928-1932) It is imperative to initially increase a comprehension of what Josef Stalin’s First Five-Year Plan involved and what he meant to achieve in the mechanical divisions before the finish of the multi year time span. The last methodology will empower a certified examination looking at how the aftereffects of the arrangement contrasted with the initially settled goals, in this way, giving the essential point of view in assessing Stalin’s techniques for monetary reorganization. In October 1928, Stalin consolidated the Soviet diagram for the organization of communism in the First Five-Year Plan, speaking to the principal endeavor by a significant capacity to change all parts of economy and society. This new Soviet system concentrated essentially on building up an overwhelming mechanical division to speed up the development of made items and combat hardware just as remaking the farming segment on another specialized foundation.(G) This woul

Samples of Research Essay

Samples of Research EssayIn a time where the internet is evolving into a larger part of our lives, many people now are looking for samples of research essay that will help them create their own. There is a large selection of materials online. One resource is the E-journal of Researchers in Higher Education. This is an online discussion forum for researchers.If you are looking for a basic outline, a sample of research will include a very brief introduction and guide to finding that material and downloading it. They are also provided by some of the leading research journals in all types of fields. The experts there are willing to help others.The most popular and easiest way to learn how to write a research essay is through a guide that has been edited by professional researchers. The information presented by this guide is comprehensive and includes how to format your research, develop your research design, how to set up the sequence of questions and write your final drafts. You can dow nload it free or purchase it for a fee.By taking this sample research as a starting point, you can quickly find information on developing your research. After you have studied it, you can begin to explore the rest of the literature, examine the tests and surveys that were done, and examine what you want to do with your research. With a sample of research, you are ready to begin.You can start by looking through research materials that your favorite college or university offers for students to use. Look at some sample chapters of essays. Look at the type of information they require. From these sources you will learn how to write.In addition to the research materials that you can access, the guide will include common elements found in most academic research. This makes it easier to understand the sample because you will be able to compare it to other materials in your own area of study. Using a guide is an investment of time. In addition to making sure you learn how to write, you will make connections that will make your work unique and advance your knowledge.If you are looking for a guide that can guide you through the research and write samples of research that you want to create your own research report, try this one. It is likely that this resource will help you.

Technical Research Papers

Technical research papers are considered to be an integral part of the education. In particular, when conducting research, one can get the answers to the required questions. In other words, it is a process of gathering information in order to solve current problems, and it increases human knowledge concerning the chosen field of the research. Nowadays, technology is an area that evolves within its different aspects and plays a crucial role in every person’s life. There are numerous amount of subjects that with every passing day are added to the field of technology. Thus, technical research papers are essential to cover the information regarding technological inventions and breakthroughs. Three Basic Tips for Writing a Successful Technical Research Paper Choose and define the topic First of all, the area of technology is quite rich with a variety of inventions, thus there are a lot of interesting topics to research on more in-depth. Because of the fact that this area is extremely popular among students, the Internet is full of papers and surveys within this field. Therefore, in order to draw the audiences attention to the paper straight away, it is important to select a topic that has never been discussed before, which is fresh and unexpected at some extend. Although, writing a topic that has already been done to death may also be successful if it is written from a different perspective. However, what is more important, a person should choose the topic that he or she is interested in it and feels comfortable to write about. Know the audience and stick to your message There should be a thorough understanding of your audience, its beliefs, and preferences â€Å"Who will benefit when I write my research paper on technology?† While writing a paper, a writer should keep its readers in mind in order to adjust to their educational background. In addition, the purpose is to inform the readers in a way that will also entertain them. It is important to create a strong thesis of the research and focus the paper on it. The clear vision of the paper’s goal and the audience will help in solving the problem and achieving its purpose. Overall, the audience should be convinced that the current problem of the research is interesting, challenging and that it is solved nonetheless. Structure of the paper and related works The structure is an essential part of every technical research paper. It serves as a foundation for the work and needs to be followed step by step. When all the information is gathered, it should be organized in sections and paragraphs according to its relatedness. Besides, technical papers usually contain figures that are presented as supporting evidence, so different signposts all over the work will help the reader easily navigate within the paper. Also, it is suggested to write the introduction in the last place because the process of just describing the paper would be simpler when the rest of the work is already done. What is more important, every research paper should be based on the work of others; there has to be the discussion whether the ideas of others are relevant to your thesis. Hence, a valuable background work may serve as strong evidence for the research paper. References: Shoop, L. A Guide for Writing a Technical Research Paper. Macalester College, Mathematics and computer Science Department. Retrieved from https://www.macalester.edu/~bressoud/capstone/TechPaperHowTo.pdfVarsamopoulos, G. How to Write a Technical Paper: Structure and Style of the Epitome of your Research. Temple, Arizona, USA: Department of Computer Science and Engineering, Arizona State University. Retrieved from http://ecee.colorado.edu/~mcleod/pdfs/UOL/references/howtowrite%20varsamopoulos.pdf 4.75 avg. rating (94% score) - 4 votes

The Bachelors Argument Essay - 990 Words

Dan Moller defends the argument he calls â€Å"the bachelor’s argument,† which is an â€Å"argument against marriage.† By pointing out how not everyone that gets married isn’t guaranteed a happy and successful out come, such as a happy and loving marriage. If we were follow through with the bachelor’s argument as if it was set standard set in stone, not giving marriage a chance could possibly lead to the lose of one finding true because they never got a chance to marry the person they thought they’d love and could have lasting relationship. Moller argument isn’t enough to reject marriage as a whole because it just emphasizes of the things that could go wrong in a marriage and how hard it’d be to get out of such a commitment. According to Moller†¦show more content†¦Being in a loveless relationship, the couple is often stuck with the moral dilemma deciding how right or wrong it is to break a promise they originally made to one another’s love and relationship. It is for those reasons it shouldn’t be a big of a deal to dissolve their marital promise to each other. Because their promise to each other was once made on the foundation that they both loved each other mutually and with out that love no longer being present, it’s no longer the same promise they mutually both agreed to. It’s not like they’re literately wanted together ‘til death do them part. Once their love for each other is dead, its time to move on. Marriage is just a stepping-stone into ones relationship to demonstrate their commitment to each other. It’s like the enzyme that takes a relationship into a fruitful future which helps the couple grow live happily together, or may be they lear n they have to part ways because things aren’t working out so well anymore. Moller does agree that whichever way things turn out in a divorce both partners need to understand that they got married on the basis of a mutual love. If the love for one of them disappears and the love persist for the other person the person must be conscious that they cant keep their spouse against their will locked in a relationship that isn’t working anymore. Moller doesn’t like the idea of how one person comes outShow MoreRelatedWhat Are The Strengths And Weaknesses Of The Argument?1025 Words   |  5 PagesBriefly summarize a key argument in the book. Include the page number(s) where the argument can be found. If you’re using an e-book without page numbers, include the section title and paragraph number. (YOUR WORD COUNT-50 words max.): Ford argues that a robot comprehends slower than a human does in a manufacturing setting. 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For example, these statistics from an online source explains that â€Å"On average, a college graduate with a bachelor’s degree earned $30,000 more per year than a high school graduate, or about $500,000 more over a lifetime, as of Apr. 2013. The bachelor’s degree makes a huge difference than a high school diploma. The majority of high school graduates want to work when they graduate high school but the pay that there receiving isRead MoreInâ€Å"Are Too Many People Going To College?†, The Author,1239 Words   |  5 Pageslazy. And all this because of a degree that seldom has an interpretable substantive meaning.† Murray is mistaken in his argument because he overlooks the importance of a college degree as well as the pros that come with a B.A. and the cons that come with not attending college. Murray sequentially moves through the different levels of education as he progresses his main argument. He starts the reader with an introduction that outlines his perception of a college’s purpose initially referencing John

Formal And Informal Dance At Hip Hop - 1090 Words

In the 1980s and 1990s more clubs used hip hop DJs, especially in the bigger cities, and all types of dancers with different skills would dance their way to the middle of the dance floor. Formal and informal competitions would often happen. Informal competitions would happen when a few true dancers were noticed on the dance floor, the rest of the people would back off and watch the leaders battle it out. The informal dance competitions became common and popular they became part of the night at hip hop clubs. This competitive dancing helped hip hop retain the â€Å"battle’ culture that existed since the beginning of hip hop dancing. When hip hop first started it was very informal, but performative. As moves started to become more creative like popping, breaking, crumping, and locking, more and more dancers began to catch up in the rhythms of the music. While the performances were more as formal, the competitive side of hip hop stayed the same, as well as the nature of the audience that would surround the dancers. People would be invited to show off their dance moves by other people on the streets, basketball court, or where ever the the group happened to be at that time. In this way the groups would figure out who is better or who has more perfected skills. On the West Coast, it was said that hip hop dancing had been inspired by robots in the movies of 1960s and 1970s. The popping and locking of the West Coast and the breaking of the East Coast are two different types of danceShow MoreRelatedWhy is the study of dance history important1848 Words   |  8 PagesWhy is the study of dance history important? To fully understand the history of dance we must look at what dance means to us today in our every day lives. How does dance influence what you do on a day to day basis, how has it shaped who you’ve come to be. I see dance today as both an art form, and something used socially to draw people together usually for celebratory purposes. Living in New York gives you the opportunity to come across various forms of dance. You could be taking the train and encounterRead MoreEssay on pop culture2997 Words   |  12 Pagesmotivation, a concept that in all forms of education is a key to classroom learning (Harrett Benjamin, 2009, p. 138). Language learning is not just about teaching student’s formal academic language. In order for a student to be able to effectively communicate in a broader context the student also needs to have knowledge of the informal language and social structures that might not be as present in the literature the schools provide. These issues can be however found within popular culture such as mediaRead MoreCreative : Creative And Creative Industries3206 Words   |  13 Pagesother Western ways of exhibiting arts. 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Feedback If you have questions related to this product, please contact our customer service department online at http:/ /247pearsoned.custhelp.com/. Acknowledgments In addition to the informal feedback that we have received from colleagues around the world, we would especially like to thank the following people who have formally reviewed material and provided valuable feedback, vital to the revision of this and previous editions: Richard

Plato’s Influence on Western Civilization Essay - 3085 Words

Our country is built on a set of values derived from ancient civilizations, individuals, and city-states; both negative and positive attributes of these relics can be proven to have assisted in molding our government into a unique and prized entity. Never would one imagine that western civilization is actually inclined by theories of truth and the human beings perception of it. Few would have thought that a primitive concept could be linked to the setbacks of other societies and their forms of socialization, as well as to the success to ours. The basic concept of truth and our natural response to socialization developed an ideal image of our current day country, long before our country existed. In ancient Greece, a great philosopher named†¦show more content†¦Following events, which went on to take place further, established his dislike for the government form, thus resulting his propositions of a Utopia in The Republic. At a young age, Plato began to follow the great philos opher Socrates, which instilled his ultimate desire to pursue philosophy, rather than his destined profession in politics. Plato had grown close to Socrates and his teachings; this close connection was a cause to Plato’s finalizing opinions of Democracy. In 399 BCE Socrates was executed by the newly leading Democratic leaders of Athens, and was voted by a majority to be put to death. Plato turned in disgust from contemporary Athenian politics afterwards and went on to be the founder of the Academy; a gathering place, which one could consider a school, that housed great scholars and their revolutionizing thoughts on Mathematics, Philosophy, and Theoretical Astronomy. Due to the events of Plato’s life, he was able to develop the most profound and employed ideas associated with western civilization. His influence had such great impact that his principles are often used in modern-day establishments, from government forms, to fundamentals pertaining to philosophy, the impac ts of socialization, as well as religion. To begin an analysis of principles, there must be an understanding of human nature and his personal thoughts regarding the topic, in having that basis of knowledge one could further understand how the basicShow MoreRelatedPlatos Influence on the Western Civilization950 Words   |  4 Pages Plato and His Relation to Western Civilization Plato is one of the succinct psychologists, analyst, and scholar the world has ever had. He is a lucrative figure in the birth, generation, and early development of the western civilization. His contributions through ethics, politics, religion, symposiums, and dialogues with Socrates exemplify a myriad of his works since he was a young scholar. He participated in a number of events, theoretical appearances, and analysis, and posting of theoriesRead MoreDbq: Ancient Greek Contributions1467 Words   |  6 Pages1900-133 BC, however its influence on the Western Literate Society lasts to this day. As the Greeks expanded their empire, they spread their ideas to other countries, while also borrowing from other cultures. During this period of time, the Greeks made many significant and long-lasting contribution to our modern culture in Philosophy, Art, Democracy, Drama, Math, and Science. These givings of important ideas, inventions, and structures have had an extraordinary influence on the surrounding environmentRead MorePlatos life and contributions to society.. What is known about his past, and how he enhanced the world around him.1638 Words   |  7 Pagesmajor historical happenings. Second, one should examine Platos specific surroundings and environment. 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Modern philosophy has its roots in a small city called Miletus, which was controlled by Greece but was not part of Greece proper, in fact it was on the western coast of AsiaRead MorePlato s Apology And Crito983 Words   |  4 PagesThroughout the history of western civilization, religion and politics have been put together and associated with the major historical events that have marked the history of humanity on earth. In the following written works, Plato’s Apology and Crito, The Gospel According to Mark, and Dante’s Inferno, religion and politics are shown to be intertwined, which emphasizes the impact of each individual character in each written work. Also, these written works explain how politics are affected by religion

Pastoral Care And Social Conflict - 1786 Words

Pastoral Care and Social Conflict By Keith L. Green Pamela D. Couture and Rodney J. Hunter did an outstanding job of reflecting on the way pastoral care was executed in the church in the past; they were especially effective with comparing and contrasting it the social, economic, and cultural issues people are faced with today. As a result of some of these issues people have suffered- Black people in particular. This suffering sparked a need for change. The authors observe several of these issues such as: race, single parenting, and post-modern family, among others. In doing so, they focus on the pastoral work of Charles V. Gerkin by reviewing numerous essays of people from different walks of life. They discuss some of the traditional patterns in contemporary pastoral care, which has become a challenge, and in some cases a hindrance for doing ministry work in society today. In the work of Charles â€Å"Chuck† Gerkin, he draws upon the Gadamerian hermeneutical method, which is aimed toward a â€Å"fusion of horizons† of Christian story and human story. While he valued the individual conversations of chaplaincy and pastoral counseling, he also challenged pastoral care to consider the congregational, social institutional and cultural aspect of its work. Drawing upon the work of critical theory and of Erich Fromm in particular, Chuck was concerned with criticism of social institutions as they perpetuated injustice. He looked as did others in the immediate post-World War II era,Show MoreRelatedCommunication Strategy in Pastoral Counseling2804 Words   |  12 PagesCS in PC 1 Communication Strategy; Use in Pastoral Counseling Rosa Menchen COMM 200 Instructor B. Matts May 24, 2010 CT in PC 2 I not only plan on furthering my career, but attending post graduate school, and obtain a MDiv. My ultimate goal is to become a health care chaplain, and/or an emergency chaplain. Having previous experience in the health care field, as well as a chaplaincy in the American Legion for several years, I have found that pursuit of this goal would not onlyRead MoreSpiritual Needs Assessment Tool1584 Words   |  7 PagesRunning head: THE SPIRITUAL NEEDS ASSESSMENT TOOL The Spiritual Needs Assessment Tool Grand Canyon University Spirituality in Health Care HLT-310V September 06, 2011 The Spiritual Needs Assessment Tool For health care providers to deliver the best holistic care that patients deserve, a thorough spiritual assessment must be included during their care. With more research showing a relationship between supporting a patient’s spirituality with their health and ability to cope with illnessRead MoreCounseling993 Words   |  4 Pagesmake decisions and resolve conflicts. Counselors provide service on different settings like the workplace, schools, colleges and other places as well. They also provide this service to families, groups or individuals. The most recent trends in counseling are through the internet and counseling in the community. These trends cover different parts of the community like business, career centers, religious organizations, and local neighborhood comprehensive health care centers. For instance,Read MoreHow Pastoral Care Policy Has Contributed to the Management of Junior Secondary Schools In Botswana23474 Words   |  94 PagesResearch questions 11 1.5 Definition of key terms 12 1.6 Acronyms: 12 1.7 Significance of the study 13 1.8 Limitations 14 1.9 Delimitations 14 CHAPTER 2: LITERATURE REVIEW 15 2.0 INTRODUCTION 15 2.1 The origin of pastoral care 15 2.2 What is pastoral care? 16 2.3 Perceptions about implementation of PC in schools 17 2.3.1 International Perspectives 17 2.3.2 Different perspectives about benefits of PCP. 19 2.3. Challenges of implementing PCP 20 2.3.4 Conclusion 22 2.4 BotswanaRead MoreThe Heemer Essay examples708 Words   |  3 Pagesusing the 5 basic themes of AP World. Theme 1 is Interaction Between Humans and the Environment. Theme 2 is Development and Interaction of Cultures. Theme 3 is State-Building, Expansion and Conflict. Theme 4 is Creation, Expansion and Interaction of Economic Systems. Theme 5 is Development and Transformation of Social Structures. All of these themes apply in the movie Hotel Rwanda. Hotel Rwanda portrays how the Rwandan Civil War went down and how the Milles Collines helped save many Hutus from being killedRead MoreCatholic Social Teaching1742 Words   |  7 PagesSocial doctrine of the church as a social instrument of the new evangelization Three terms are present in the title of this issue: two explicit (social doctrine of the church and new evangelization) and an implicit (evangelization). We can’t talk about the new evangelization without connecting it with the evangelization itself; the relationship between the church’s social doctrine and the new evangelization comes through the evangelization. The first thing it’s the evangelization, the most originalRead MoreConcept of Critical Care1266 Words   |  6 PagesCONCEPT OF CRITICAL CARE Critical care nursing is that specialty within nursing that deals specifically with human responses to life-threatening problems. * As defined by the World Federation of Critical Care Nurses: Specialized nursing care of critically ill patients who have manifest or potential disturbances of vital organ functions. Critical care nursing means assisting, supporting and restoring the patient towards health, or to ease the patient’s pain and to prepare them for a dignifiedRead MoreThere Was Only One Lead By Pastor Marc1376 Words   |  6 PagesIn 2016: there was only one lead by Pastor Marc. Once the coaching relationship began staff meetings happened every Tuesday unless there was a scheduling conflict and if that happened they were moved to Thursday. 2015:   1/13,1/20,2/3, 2/10,3/10, 5/2, 11/10, 11/17, 12/1, 12/8, 12/15 (remember pastor began his leave in August) In 2014 the staff meetings were more frequent. 2014: 1/14, 1/21, 2/4, 2/18, 2/25, 3/11, 3/18, 4/9, 4/15, 4/22, 4/29, 5/13, 5/20, 6/3, 6/10, 7/1, 7/8, 7/15, 8/5, 8/26Read MorePastoral Care and Counseling Essay5654 Words   |  23 PagesIntroduction Pastoral care and Counseling is one of the important ministries in the Church at any place in the world. Our churches are filled with people who experience crisis, lost, loneliness, anxiety, depression, divorced, and family problems. Pastors have a huge opportunity to help people just by listening and encouraging those in household of faith. In some cases it is just enough to listen and teach biblical principles of living but in the other cases there is the need to be specifically trainRead MoreThe Role Of Leadership As A Leader1728 Words   |  7 Pagesconstitutes a death wish for a church. â€Å"Leaders create conditions that make something new possible.† In other words, a congregational leader is not afraid of the conflict that arises by a truthful evaluation of the establishment, but rather uses the conflict as a means to teach and wrestle with truth. The partnership of truth, evaluation, conflict, response, and vision encompass a process by which a leader facilitates the development of vision. In healthy congregations, there is always push back to change

Erika Accident free essay sample

The vessel had broken in two spilling an amount close to 19800 tones of heavy fuel oil. Additionally 6400 tones remained in the bow section of the sunken vessel and approximately 4800 tones in the stern section. Even though all crew members were rescued, this event would inevitably turn out to a huge disaster. Most of all because of the environmental consequences of the oil spill. In this paper I will first of all stress out the effects on the environment caused by the oil spill. Then, the regulations that were applied to the incident under consideration will be analyzed. Moreover I will point out the problems which arise from the incident. Finally I will evaluate measures taken with the aim of avoiding any similar future incidents. The tragic event of the tanker vessel Erika had a tremendous impact in the environment. As shown in the appendix, the catastrophe in the waters, the coasts and of course the sea life from the oil spill was huge. We will write a custom essay sample on Erika Accident or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Yet, this wasn’t the only effect that this incident caused. The economic consequences were enormous affecting the fishing and the tourist sector for many years. The already existing rules should be reinforced. The reaction of the European commission to the report of the Erika accident was very quick and decisive. The first thing they did, three months after the oil spill, was to adopt a series of proposals regarding the maritime safety of the European coastlines. Then, in December 2000, a second set of proposals with rules and regulations was launched. Finally, in 2005 the commission adopted more measures that were part of the third Erika package. These three set of rules were named Erika I package, Erika II package and Erika III accordingly and will be described further on. All packages were a response to the Erika accident and their aim was to set more strict rules regarding the protection of the environment and the compensation of the oil spill – victims. Erica I package: The main goal of the first Erika package was to improve, quality wise, the controls of vessels in ports which up until that time had proven to be inadequate. The quality controls would become more strict and thorough. If a vessel, subject to a control, was found to be of lower standards, than the ones set by the port state control, then it would be obliged to go through stringent annual inspections. The inspections would be more sufficient examining the vessel for deficiencies and elements that could be of any threat for the safety of the crew members and the environment. Also, some other factors may attract more inspections for a vessel. The fact that a vessel is old (more than approximately 15 years), or flies a flag of convenience, or possibly has testimonies from its own workers for deficiencies inside the vessel will be subject to more inspections. In the table bellow we can see the number of detentions related with the ship’s age.

Dorm Life Essay Example For Students

Dorm Life Essay Dorm LifeDorm life at Bowling Green State University is like most other colleges. Students that live in the dorms are known to become very close, often walking to classes together, playing sports, and staying up late for all night study sessions. The students that live in the dorms are in some sense, a society. Every person has a responsibility. Sometimes, if any one person does not complete what they are responsible for, the whole society has to pay. There can be many problems in a dorm. Students playing music too loud in their rooms after quiet hours, and not respecting others are examples of problems that only affect one or two people. Problems like leaving the hall a mess and leaving trash in the bathroom are problems that affect the whole dorm. By leaving trash in the hallway or in the bathrooms, the student runs the risk of being fined from the custodial services for having to take out the room trash. These fines are extremely harsh. At one point, a floor would be fined $11 for a custodial worker to have to pick up a pizza box. Other problems include plates, silverware, and trays from the dining hall winding up in the hallway, leaving the bathroom a mess, and vomiting. The whole floor is charged with this fine if the actual culprit isnt found. Durham 2Dorm policy is to fine the students on the floor that the incident occurred on. These fines can become quite excessive, sometimes exceeding $500 per semester. A student cannot receive his or her final grades for the year unless these fines are paid in whole. This brings up the question, Is it right for all the students on the floor to be fined if only one or a few of the residents went against the rules? Should a few bad apples ruin the whole bunch? I think not. I feel that someone should address the problem by holding monthly, if not weekly meetings to inform the students that they need to take their trash out instead of placing it in the bathroom. Students need to be told that trays and all other silverwar e and plates need to be returned to the dining hall. Repetition is the key. If the solution is pounded and pounded into the students heads, then they will begin to obey. A hall director could also keep the students thinking by reminding them how much the floor owes, and what their share is. Constant reminders will deter the students from breaking the rules. Another, the idea of Terri Capellman, graduate hall director of Compton Hall in the Kreischer Quad at BGSU, is to install cameras to catch the violators in the act. The sight of a camera watching the hallway would be enough to prevent trash being left in the hallway, potential acts of vandalism and theft. Either of these two potential solutions would work, but have we confronted the real question? Who should pay for all the damage that occurs in the residence halls?If there is an emergency after the hour of 12 a.m. to 8 a.m. on a Thursday, Friday, Saturday, or Sunday night, then an Emergency Maintenance custodian has to come and Durham 3fix the problem. This person is of course paid for their overtime. An emergency maintenance custodian can be called in at any time of the night. If an emergency maintenance custodian is needed, then they are paid for 4 hours of regular time, no matter how long they stay there. The starting wage for a full time custodian is $9.93/hour. (Payroll Office Statistic) This means that the custodian was paid at least $39.72 to come in and clean up something that could have taken ten minutes to clean up such as broken glass. The students on the violating floor are charged for this salary. The custodians may say that the wages they are given for coming in at unacceptable hours of the night are legit. They seem extreme to me. I think that the custodians should of course be paid extra for coming in at such late hours, but maybe not as much as is said. A reasonable wage for an emergency maintenance custodian is $30. Keep in mind that the $9.93 is a starting wage, and since we are at a sta te funded university, those wages get raised in no time. A good pay for an emergency maintenance custodian would be $19.86/hour. This is double what they make during the day and there is no additional cost for time that is not spent on working. A solution to the whole emergency maintenance deal is to have one of the night guards or an on duty resident advisor clean up the mess. There are always three night guards on duty from the hours of 12 a.m. to 4 a.m. The job of these people is to check in residents coming in after the hour of midnight. Does the front desk really need 3 people doing the work of two? Durham 4An on duty RA that has nothing to do could also be a possible solution for the cleanup. On most nights the on duty RA has nothing to do, but they are being paid for doing it. Put them to work. Trash and trays left in the hallway are not the only things that a custodian might have to clean up. As you may know, drinking is quite common among college students. If a resident wer e to puke due to the consumption of too much alcohol after the hour of 12 a.m. then once again the emergency maintenance custodian would have to be called once again. .ub7ceff3fcdcfd347ba9c99f85bbdf1fe , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .postImageUrl , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .centered-text-area { min-height: 80px; position: relative; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:hover , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:visited , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:active { border:0!important; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .clearfix:after { content: ""; display: table; clear: both; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:active , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .centered-text-area { width: 100%; position: relative ; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:hover .ctaButton { background-color: #34495E!important; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .ub7ceff3fcdcfd347ba9c99f85bbdf1fe-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:after { content: ""; display: block; clear: both; } READ: Animal Cruelty And Family Violence Essay All of these violations do not make hall directors happy. They are the ones that control the budgets of the residence halls. If too much money is being spent in one area of the dorm, then the students have to pay. If there is a complaint of trash or trays in one of the bathrooms, then the students have to pay. Why should all the residents have to pay for something that one person did? According to the BGSU student handbook, the policy is this way because the students are the ones that know who is committing all these violations. When the students see others committing a violation of the rules, they should take action by telling the person politely that the fine for what he or she is doing will be assessed to the whole floor. If the violator is outnumbered, he or she might feel pressured to obey the wishes of his or her peers. In conclusion, it should be shown that the individual student should not be fined for something that one of their peers did. I have given a few solutions of how to cut costs for the residence halls so the students do not have to be fined as much. I understand that someone has to pay for the damage that is made but I also think that it should be the person or persons that commit the crime. I am a college student and my floor has already accumulated well over $2000 dollars so far this school year. I feel that it is not fair that I have to pay for something that I didnt do. Pop cans, Styrofoam cups and trays make the dorm look like a junkyard. The ultimate thing that needs to happen is the students need to take responsibility for their own actions.

The Untenable Developmental State Economic Model

Introduction The developmental state is a term used to describe industrialised and rapidly developing economies. In these economies, policies that bring rapid economic change are formulated and implemented by the governments concerned.Advertising We will write a custom essay sample on The Untenable Developmental State Economic Model specifically for you for only $16.05 $11/page Learn More Previously, the term developmental state was used to describe the East Asian economies such as South Korea, Taiwan, Singapore, Hong Kong and even Japan and China, where governmental policies played a vital role in the exponential economic growth of these countries from the early eighties. Chalmers Johnson, an eminent Political scientist who did large quantities of research on Asian economies, first used â€Å"Developmental State† as a term in his book MITI and the Japanese Miracle (Stubbs 2009, p.4). However, the term has lately been used to describe states outsi de Asia that have similar development styles, such as Botswana in Africa and some Latin American countries. The rapid industrialization and economic growth that characterised the East Asian economies were of much interest to western scholars. According to Hayashi, there exists two types of criticism for the developmental state (2010, p.46). The first type states that, developmental states are not a decisive factor in economic growth and that other developing countries would do well to forgo the form of economic growth exhibited by development states. This is because, according to economists like Paul Krugman, development states had exhibited a sham growth that did not take into account a concept known as total factor productivity, where all variables that play a part in economic growth are included in the calculation of growth and GDP. According to Krugman therefore, these developmental states would soon crumble under illusionary the weight of the deceptive economic growth. The seco nd class of criticism states that, although a slight level of growth was achieved by the developmental states in the eighties and nineties, such a model of economic growth is no longer viable in today’s globalized world.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The emergence of the developmental states of East Asia was in a sense a rebellion from the economic models practiced by the former colonial masters of these countries. According to Kim, these East Asian states desired to pursue unique economic strategies that were customised to fit the cultural, political and economic realities of East Asia, distinct from the policies advocated by fly-by-night western economists (2009, p.383). These countries felt that the economic practices proposed by their former colonial masters were far-removed from Asian realities, and purposed to chart their own paths towards industrialization an d economic growth. The Asian economic crisis of 1997-1998 affected most countries in Asia. Those severely affected were Thailand, South Korea, Indonesia and Malaysia. Other countries affected were The Philippines and Laos. India, Japan and China were less affected, but suffered a loss of confidence in their markets. Therefore, the crisis’ reach spanned the entire Asian continent. Eventually, as the crisis deepened, the International Monetary Fund (IMF) had to step in and bail out some of these economies. During the years when the model of the developmental state was being touted as one of the best models that a country in need of rapid industrialization and economic growth could adopt, the East Asian countries served as the prototypical examples. The general belief was that these countries had sound fiscal policies and the high-capital flows into these countries were evidence of investor confidence in the said policies. However, when the crisis began, the model of the develop mental state, especially when juxtaposed with countries in the west with differing economic policies, did not appear as reliable and stable as earlier thought. Additionally, because of the intervention of the IMF, and the subsequent actions by these countries in adopting policies proposed by the IMF, the developmental state as a model of growth for developing countries needs re-thinking. In light of these developments since the East Asian financial crisis of 1997-1998, the notion of the developmental state, as a model for growth, is economically nonviable. Moreover, the concept of globalization has rendered governmental influence on economic progress unfeasible. Additionally, because in the aftermath of the financial crisis the Asian states affected adopted western economic structures and policies, the notion of the developmental state as a model for rapid industrialization is unsustainable.Advertising We will write a custom essay sample on The Untenable Developmental State Eco nomic Model specifically for you for only $16.05 $11/page Learn More Prior to 1997-1998 Financial Crisis During the 1980s and early 1990s, Asian countries attracted foreign investors in droves. Countries like Indonesia, Thailand and South Korea posted double-digit growth rates for many consecutive years (Stubbs 2011, p.155). This seeming economic boom saw high interest rate returns for investors, and capital inflows to these countries increased. These Asian countries, especially South Korea, Taiwan, Hong Kong and Singapore earned the admiration of the IMF and the World Bank, and were given the moniker â€Å"Asian Tigers† to describe their successful and aggressive growth towards industrialization. The 1997-98 Asian Financial Crisis The 1997-1998 Asian financial crisis began in Thailand, where due to the country’s massive foreign debt, its currency was rendered valueless. Soon the effects of Thailand’s currency collapse spread to other As ian nations, and countries such as China and Japan, though relatively less so, were also affected. Because of the significant investments made by international and foreign investors in these economies, the IMF had to step in to pre-empt a worldwide financial crisis. The IMF started a bail out program for the economies of South Korea, Indonesia, Thailand and other affected nations. South Korea As one of the countries that was most affected by the crisis, South Korea accepted the IMF bail out funds in order to restore its economy. The immediate aftermath of the crisis was an increase in the level of unemployment in the country; the IMF request to reduce public spending and downsize workers in the public sector only worsened matters. Additionally, many of the large corporations in the country had chalked up astronomical debts and were nearing insolvency when the crisis began. Government efforts to shore up the activities of conglomerates such as Kia motors, the country’s largest car marker at the time, had served to laden the company with poor debt. Typical of developmental states, the South Korean government had made efforts to bail out the company prior to the crisis.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to Jung and Clark, many South Koreans believe the IMF intervention worsened the crisis, with some going as far as blaming the IMF for instigating the crisis (2010, p.30). Indeed, even though South Korea accepted the bail out money from IMF, it did not strictly adhere to the conditions set by the monetary institution (Su-Hsing Ming-Jang 2010, p.175). For instance, the government rejected the condition of reducing its public spending, and on the contrary offered welfare funds to the needy and others most affected by the crisis. In the long term, the stance of the government bore fruit, and by the year 2007, the South Korean economy was again recording consistently high levels of growth. Thailand Thailand’s economic growth prior to the financial crisis of 1997-98 was one of the highest in the world. As the epicentre of the financial crisis, panic began through investor speculation on the strength of the country’s currency. The central bank, in the face of massi ve lay offs and loss of jobs and businesses, refused to devalue the currency. Thereafter, many of the country’s financial and industrial institutions collapsed, and more workers lost their jobs. A high number of expatriate workers also left the country. By December 1997, the government of Thailand accepted bail out packages from the IMF, and implemented the conditions that the IMF set for granting the funds. These conditions included limited government spending, high taxation, and maintaining high interest rates. Additionally, all institutions and firms that could not sustain themselves and were insolvent were not to be bailed out. Within seven years of implementing these measures, Thailand was firmly on the road to economic recovery, and paid its IMF debt within the stipulated period. Indonesia Indonesia’s financial crisis was least expected amongst the Asian nations. Indonesia, unlike other East Asian nations that were affected by the crisis, had low inflations, a st able currency, adequate foreign reserves, and its currency’s exchange rate to the dollar was stable. However, financial contagion stemming from Thailand’s collapse led to speculative ambushes on the rupiah, Indonesia’s currency. Soon the country’s premier stock exchange reached its lowest points in history, and the political class, led by the president, decided to accept IMF’s bail out funds of $20 billion dollars. The crisis claimed several political scalps, including that of President Suharto. The president, in an attempt to contain the crisis, had earlier sacked the central Bank governor whom he accused of formulating defective policies that failed to arrest the economic decline that was plaguing the country. Malaysia Prior to the crisis, Malaysia attracted large foreign investment. Like other developmental states, government hand in promoting the country as an investment hub was significant in attracting high numbers of foreign investors. The K uala Lumpar Stock exchange at the time was the most active in the world. However, in 1998, due to the effects of the financial crisis in other East Asian nations, the Malaysian economy went into recession. Industrial sectors like the construction industry, one of the foremost industries in the country, shrunk massively. Massive lay offs and downsizing of staff followed. The government intervened to slow the currency’s decline against the dollar. Malaysian economic authorities formed task forces to oversee he stabilization of the economy, and Malaysia was the only country to decline aid from the IMF. By the year 2005, measures to contain the crisis had taken effect, and the Malaysian currency was de-linked from its previous fixed exchange status. China, Japan and the USA China was not intensely affected by the financial crisis. Its currency, at the time, traded at about 8 RMB to the dollar. However, due to the decline in the relative value of most Asian currencies occasioned b y the crisis, China was faced with the need of devaluing its own currency so that its exports could remain competitive. Chinese authorities decided not to devaluate the currency, and in the end, China was able to survive the financial crisis with the barest of losses to its economy and prestige. Japanese investments in other Asian nations suffered because of the collapse of these economies during and after the financial crisis. Additionally, in 1998 the economy suffered a recession due to low foreign exchange occasioned by competition from cheaper sources of goods from other Asian nations. In the US, although the economy did not undergo a recession, fears of collapse fuelled by the crisis occurring in Asia led to the brief suspension of trading at the New York Stock Exchange. Similarly, the country experienced reduced consumer spending amid speculation of the outcome of the Asian financial crisis. Lessons Learnt Prior to the financial crisis of 1997, these East Asian economies were believed to have implemented sound fiscal policies that would forestall the occurrence of a financial crisis. Therefore, even the most ardent sceptics of the â€Å"Asian miracle† like Paul Krugman could not predict the scope and intensity of the crisis. According to Ka Ho, Lawler, and Hinz, the Asian financial crisis worsened the existing social gaps that existed priors to the crisis (2009, p.146). Educational opportunities for the poor became limited, and access to social services was hindered by the lack of funds in government treasuries in these Asian nations (Ramesh 2009, p. 80). The IMF intervention was conditional, and the nations affected had to pursue frugality measures crafted by the IMF in order to reduce public spending, increase revenue and restore investor confidence. The Role of the IMF As earlier stated, one of the main reasons that the Asian states pursued the developmental state economic model was a desire to curve out economic paths that remained true to Asi an conditions. For many of the countries in Asia, simply following western models of economic growth was not tenable. Therefore, adoption of the developmental state model by these countries was, as much an act of defiance, as it was a pursuit of a unique economic growth model. The IMF’s role in reducing the effects of the financial crisis through bailing out these economies took several angles. The conditions set by the IMF served to achieve certain purposes, which many in the Asian region felt was a form of neo-colonialism, and a movement towards a form of economic models many Asians countries had strived so hard to disassociate with – the western model. Westernized Financial and Banking Institutions Ultimately, the IMF wanted the Asian nations affected by the crisis to adopt financial models moulded in the form of those found in Europe and the USA. As far as the IMF was concerned, the developmental state models had failed at its most critical point. The financial cri sis that plagued Asian nations, which until the actual crisis began were believed to be examples in sound financial and economic management, was proof of failure of the developmental state model for the economic growth. Therefore, the IMF facilitated bail out funds with conditions that required these countries to restructure their economic and financial institutions, industries and policies. According to Pettis, emerging economies that pursue aggressive policies aimed at industrialization have to be aware of imminent collapse wrought by unstable institutions (2001, p.17). Pettis states that, countries that industrialize over a long period are better placed to deal with sudden economic shocks because the economic industries in these countries usually stabilize over long periods, enough to withstand sudden economic shocks. Therefore, the IMF’s role was to steer these economies away from the developmental state model and towards a more western economic orientation. Transparency A strong feature of the developmental state is a lack of financial openness to foreigners or the outside world. Whenever government is involved in economic matters, many times the need to pursue genuine economic policies and the desire to placate the electoral masses usually conflict. Subsequently, many developmental states find themselves issuing economic data that the masses and the electorate will find pleasant, while hiding or failing to disclose economic data that may place the government in a negative light (de Boyrie 2009, p.5). Indeed, developmental states tend to have minimal democratic practices, and sometimes need to maintain a positive economic image for the public and investors overrides the need for full disclosure (Pempel 1999, p.14). Some analysts believe that one of the reasons that remarkably few economists predicted the Asian financial crisis of 1997-1998 was because the data that the economists worked with was not comprehensive. Therefore, while these economies w ere given a clean bill of health in the economic books of western scholars as late as 1996, the real data or economic trends that would have allowed for some sort of prediction was overlooked, or simply unavailable for outside scrutiny. Therefore, one of the conditions set by the IMF was that the financial institutions that were to be given the bail out money would disclose all their financial activities, and such activities should henceforth be subject to public scrutiny (Best 2010, p.30). As shown in the economic data of the countries that were affected by the Asian financial crisis of 97-98 in this paper, all of these countries showed healthy economic data prior to the crisis. Even Thailand, the country that precipitated the crisis, enjoyed an economic growth rate of 9% in the year preceding the financial crisis. The belief that the governments of these countries had withheld crucial data that would have pre-empted the crisis thus holds water. Restoration of Confidence in Asian M arkets In order to facilitate quick economic recovery and restore investor confidence in the Asian markets, the IMF proposed measures to realise the same. In countries such as Thailand, Indonesia, and South Korea, the beginning of the financial crisis saw them hold remarkably little in foreign reserves. Therefore, the IMF instructed these countries to maintain high interest rates to ensure that their respective domestic currencies remained in the hands of locals, thereby maintaining confidence in these currencies. Similarly, the crisis led to a reduction in capital flow to the Asian region, and fearful of speculative buying and withdrawal of investments that would bring a global crisis, the IMF sought to restore investor confidence in the Asian markets as soon as was practically possible (Kaufman, Krueger, Hunter 1999, p.35). In the pursuit of restoring investor confidence, the Asian economies that accepted bail out money from the IMF resorted to adopting financial practices simila r to those of western societies like the US. Vindication of the Western Model over the Developmental State Model Ultimately, the fact that these Asian states accepted bail out funds in order to restore their economies points to a victory of the western route towards economic progress and industrialization over the developmental state model. The policies pushed by the IMF, and adopted by these countries, ultimately worked. In essence, the developmental state model failed when it mattered most. Globalization and the Notion of the Developmental State The Asian Financial crisis of 1997-1998 had profound effects on the social, economic and political sectors of the East Asian economies. The immediate aftermath of the crisis saw these states grapple with massive unemployment, lack of access to social services and increased poverty rates. Since the crisis, changes in the modus operandi of world economies, precipitated by technological advances, have ushered in global markets for national ec onomies. Through globalization, traditional country boundaries that restricted trade have been eliminated, and business transactions across national barriers are common and necessary. According to Green, globalization is changing the way countries run their economies and industries in Asia (2007, p.25). Outsourcing of labour across national boundaries, exchange of goods and services over the Internet and technological transfer have all contributed to creating economies that rely less on governmental policy and more on the individual innovativeness of citizens. Conclusion Certainly, the East Asian developmental states prior to the East Asian financial crisis of 1997-198-98 were models on achieving high economic growth and rapid industrialization. Variously called the ‘Asian miracle’, â€Å"Asian tigers’ and other such epithets, analysts of these economies prior to the crisis were confident in the model as a vehicle towards economic progress. However, the financia l crisis of 1997-1998 calls for a re-think concerning the efficacy of the developmental state as a model for economic and industrial growth. As discussed in this paper, the financial crisis called into question various attributes of the developmental state. Overall, the inability of these developmental states to secure their economies by themselves and only doing so through the assistance of worldwide monetary institutions such as the IMF indicates a considerable failure of the development state notion (Muchhala 2007, p.45). The intervention by the IMF, and the subsequent policies adopted by these states, point to the weaknesses in the development state model. Firstly, in order to recover from the financial crisis, these states had to acquire financial models similar to those of the western world. This indicates a failure of the financial model espoused in developmental states. Secondly, these states had to pen up their economy for more intense international scrutiny. Thirdly, these states had to restore confidence in their markets by practicing policies such as implementing high interest rates, an idea prevalent in western economic policies. Ultimately, because these states had to forgo their developmental state models in order to recover from the financial crisis, the developmental state model thus becomes effectively redundant. Finally, as discussed in the paper, the changes in world economic practices have served to obviate the need for adoption of a development state model for economic growth. Globalization has shattered traditional trade and economic activity beliefs. In the present day, economic transactions rely less on governmental regulation, and more business activities are carried out across national and international boundaries than ever before. Such open, quick and innovative transactions carried out over the Internet and through technological transfers have placed market forces firmly out of the hands of governments. The notion of the developmen tal state thus belongs to a bygone era. Reference List Best, J., 2010. The Limits of Financial Risk Management: Or what we didn’t learn from The Asian Crisis. New Political Economy, 15(1), pp. 29-49. de Boyrie, M., 2009. Structural Changes, Causality, and Foreign Direct Investments: Evidence from the Asian Crises of 1997. Global Economy Journal, 9(4), pp. 1-38. Green, A., 2007. Globalisation and the changing nature of the state in East Asia.  Globalisation, Societies Education, 5(1), pp. 23-38. Hayashi, S., 2010. The developmental state in the era of globalization: beyond the Northeast Asian model of political economy. Pacific Review, 23(1), pp. 45-69. Jung, C., Clark, C., 2010. The Impact of the Asian Financial Crisis on Budget Politics in South Korea. Asian Affairs: An American Review, 37(1), pp. 27-45. Ka Ho, M., Lawler, J., Hinz, S., 2009. Economic Shocks in Education: Analysis of the 1997 Asian Financial Crisis and Lessons for Today. Global Social Policy, 9(2), pp. 145-173. Kaufman, G, Krueger, T, Hunter, C 1999. The Asian Financial Crisis: Origins,  Implications and Solutions. New York: Springer. Kim, W., 2009. Rethinking Colonialism and the Origins of the Developmental State in East Asia.† Journal of Contemporary Asia, 39(3), pp. 382-399. Muchhala, B., 2007. Ten Years After: Revisiting the Asian Financial Crisis. Washington, DC: Woodrow Wilson International Center for Scholars Asia Program. Pempel, T., 1999. The Politics of the Asian Economic Crisis. Ithaca, New York: Cornell University Press. Pettis, M., 2001. The Volatility Machine: Emerging Economies and the Threat of  Financial Collapse. Oxford: Oxford University Press. Ramesh, M., 2009. Economic Crisis and its Social Impacts: Lessons from the 1997 Asian Economic Crisis. Global Social Policy, 9(2), pp. 79-99. Stubbs, R., 2009. What ever happened to the East Asian Developmental State? The Unfolding debate. Pacific Review, 22(1), pp. 1-22. Stubbs, R., 2011. The East Asian develop mental state and the Great Recession: Evolving contesting coalitions. Contemporary Politics, 17(2), pp. 151-166. Su-Hsing, H., Ming-Jang, W., 2010. Did IMF Put Out the Fire or Start One when the Financial Crisis Struck Asia? International Research Journal of Finance   Economics, 40(6), pp. 172-183. This essay on The Untenable Developmental State Economic Model was written and submitted by user Kat1eP0wer to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

General Training Essay Writing Samples

General Training Essay Writing SamplesGeneral training essay writing samples are a great resource for IELTS students to use as they create their essays. This type of resource is incredibly helpful when trying to get a few practice papers together for your test. The information contained in these resources are used and tested by many IELTS students every day, so you can be assured that they will be a valuable tool.One of the most important things to remember is that all of these types of resources are for IELTS level two or above. Some resources for IELTS level one will contain passages that were created specifically for this level. You should only take a look at those resources that you understand have been created by people who have successfully passed the exam.Some of the best general training essay writing samples will be created by IELTS students who have taken this test several times before. These tests are usually relatively easy, and you will need to know what works. That is w hy taking a look at others' essays can be so useful.By looking at other people's essays, you can make sure that the questions and topics are similar. This means that you will not spend your time trying to figure out a format that is not very helpful. You can also determine which elements you should concentrate on.Some of the best general training essay writing samples will include an example answer for each question. This will help you be familiar with what you should be doing if you understand the question. In addition, you will be able to see how you should compose your own answers, as well as what you should avoid doing.Practice writing questions and essays by getting some practice tests. You can take some test papers and write them as if you were preparing for the actual test. This will give you a feel for what things you need to think about, and also a way to find areas where you might be lacking.If you do not have enough experience in writing essays or if you are new to the En glish language, it can be helpful to find some free resources online. A lot of websites offer sample essays, and even lists of questions. You can also use some of these resources to practice when it comes to preparing for an actual test.The most important thing to remember when looking at general training essay writing samples is that you should be familiar with grammar and punctuation. As a lot of these resources are meant to be used in preparation for a real exam, you will want to make sure that you have done your homework beforehand. However, there are plenty of resources available online, and you should be able to find the information that you need to prepare for the real exam.