Why Price Momentum Is Contrary to the Efficient Markets Hypothesis Assignment

Why Price Momentum Is Contrary to the Efficient Markets Hypothesis - Assignment Example The cash flow shocks, if embedded within the pricing, the price momentum can be observed. Or in a generalized manner, embedding any shock in the stock pricing implies the presence of price momentum.Shivakumar (2006) agrees that this phenomenon does seem contrary to the efficient market hypothesis, whereby, the hypothesis state that information is readily and equally available to all investors to ensure that the decision making of each is the differential amongst their strategy because the strategy is derived from information on which a decision is made. This concept is also agreed upon by Subrahmanyam (1998), Fama (1998) and Martin (2003) during their analytics on this model. Along similar lines, if information available to everyone is the same, then there is a consistency of information available in the market. Thus, a competitive environment shall prevail. However, this phenomenon exists in idealistic situations only, and on a general note, factors such as insider-trading, using pr ivileged information and so on do exist in markets globally. Subsequently, there are shockers – shocking news in the market – that prevail and the price of a stock fluctuates according to these shocks that can either be negative or positive; the former slides stock prices down, and the later carries it up, and the force that takes it up or down is known as the ‘price momentum’.Additionally, if the assumption of efficient market hypothesis would prevail, then equal information shall be available to all, and there would be presence of ‘shock absorbers’, because since an information would not just be available for certain individuals but for everyone, therefore, there would be not much of a shock for people to know about the case.

My Personal Ethics and What They Mean to Me Essay Example for Free

My Personal Ethics and What They Mean to Me Essay Everyone has their own personal ethics, for me this means being honest to my self in everything I do. I use my personal ethics to help in making choices that affect every aspect of my life. Personal ethics for me mean that I choose to be who I am and don’t let others effect the way I think or behave. Ethics are what makes us who we are and how we react to situations. In school it is important to have personal ethics, this helps us to be honest, uphold the academic integrity, and be able to follow the rules that are set for us. When at work, home or while dealing with others your personal ethics come into play. People don’t even realize that they use these every day to make choices that will affect them. I always think before I say something and how it will affect the other person. There are some who do not do this however, and for them their personal ethics are different. I find it hard to understand those who do not have the same kind of personal ethics as myself. I know the reason why others do not think as I do, but it is hard to understand when someone is mean or dishonest and thinks nothing of it. I have always tried to be an honest and caring person. I take care of others and I am responsible for a lot of their personal items. I have to deal with small amounts of their money, cell phones, clothing, and jewelry every day. Without my ethics I would think nothing of taking things that didn’t belong to me. I know that I have had coworkers who have done this and I hate that it happened. They of course are no longer working here. It amazes me that people have bad personal ethics that they can even think about doing something to someone who has been placed in their care. I will as long as I live use my personal ethics to make me a better person to all I come in contact with.

The Benefits of Enterprise and Innovation :: essays research papers

The Benefits of Enterprise and Innovation Teens are facing a major unemployment rate when they come out of High School. This unemployment rate could be cut if students would learn and grasp knowledge of business, economy, and new technology. This course should help in grasping all those ideas. This essay will start this process of learning by setting goals and showing how they can be met. The real world is tuff and unpredictable. With this course, preparing for the real world will be much easier.   Ã‚  Ã‚  Ã‚  Ã‚  Signing up for Enterprise and Innovation is as simple as watching the news. Just watching the news tell us about the roller coaster ride called economy and our unemployment rate will make anyone jump and sign up. Signing up just is smart. To succeed in the real world, an edge is needed. This edge starts by picking up a pencil and signing up for Enterprise and Innovation. With this edge a job should be easier to get and more enjoyable.   Ã‚  Ã‚  Ã‚  Ã‚  The goals that were set for this course are quite simple, relative to each other, and helpful. My major goal is to comprehend an edge and understanding in searching for a job and/or running a successful business. This goal also branches off into many smaller goals or steps. One of these steps is to gain experience by taking this course. The experience I will gain is about running a business and by getting knowledge of our economy to help get a job and help keep or get a job promotion . Another step is to seize more experience in interacting with people in a business. This experience will help extremely at giving better knowledge of how a business runs by its job force.   Ã‚  Ã‚  Ã‚  Ã‚  Many things have to be done and met to reach these goals. Though they may seem hard or easy to reach, all goals may grow, shrink, or change entirely. Through this course, focus and concentration is essential. Another way to reach these goals is to not just focus in one direction but open your mind to focus in many directions. This may need information from others, but that is another way of reaching these goals. Cooperation with people is major key in reaching goals. This cooperation is an easy way to reach the goals that were set.

Determining of the equilibrium constant for the formation of FeSCN2+ Essay

Determining of the equilibrium constant for the formation of FeSCN2+ Introduction The objective of this experiment was to determine the equilibrium concentration and then determine Kc. A dilution calculation was formed to determine the concentration of SCN- and Fe(SCN)2+. Each cuvette was filled to the same volume and can be seen in table 1. Then the absorbances were recorded from each cuvette and can be seen in table 1. A Beer’s law plot was made from the data that was recorded from the optical absorbance. During the second part of the experiment Fe (NO3)3 was added and diluted with HNO3 . All of the cuvettes were mixed with the same solutions in the second part of the experiment, which can be seen in table 2. A dilution calculation was made to determine the initial concentration of Fe3+and SCN-. Then the formula Abs + b/ slope was used to determine the equilibrium concentration which lead to the calculation of each Kc per trial. Chemical reaction Fe3+ + SCN- FeSCN2+ Â  Conclusion: An acid and a base were mixed together throughout the experiment, which resulted in a bright orange color. It was determined that using the colorimeter at 565nm the would give the optimum wavelength because it was the closest absorbance to 430nm. All of the cuvettes were filled to 3mL so there would not be another dependent variable. Whenever Fe3+ would come in contact with SCN- there would be a color change. Relatively all of the Kc were close to each other as they should be because the only variable that affects a change Kc and the temperature was kept consent throughout the experiment. The average Kc from all five trials is 1.52 x 10 2.

Inflation in Bangladesh Essay

1. Introduction Inflation is a general increase in prices and fall in the purchasing value of money. â€Å"Too much money in circulation causes the money to lose value†-this is the true meaning of inflation. What is Inflation. The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum. (Investopedia) a. Kinds of Inflation Inflation means a sustained increase in the general price level. However, this increase in the cost of living can be caused by different factors. There are many types of inflation but the main two types of inflation are; 1. Demand pull inflation: This occurs when the economy grows quickly and starts to ‘overheat’ Aggregate demand (AD) will be increasing faster than aggregate supply (LRAS). 2. Cost push inflation: This occurs when there is a rise in the price of raw materials, higher taxes, etc. 1..Demand Pull Inflation This occurs when AD increases at a faster rate than AS. Demand pull inflation will typically occur when the economy is growing faster than the long run trend rate of growth. If demand exceeds supply, firms will respond by pushing up prices. Simple diagram showing demand-pull inflation The UK experienced demand pull inflation during the Lawson boom of the late 1980s. Fuelled by rising house prices, high consumer confidence and tax cuts, the economy was growing by 5% a year, but this caused supply bottlenecks and firms responded by increasing prices. This graph shows inflation and economic growth in the UK during the 1980s. High growth in 1987, 1988 of 4-5% caused an increase in the inflation rate. It was only when the economy went into recession in 1990 and 1991 that we saw a fall in the inflation rate. 2..Cost Push Inflation This occurs when there is an increase in the cost of production for firms causing aggregate supply to shift to the left. Cost push inflation could be caused by rising energy and commodity prices. Simple Diagram showing cost push inflation. 3. Wage Push Inflation Rising wages tend to cause inflation. In effect this is a combination of demand pull and cost push inflation. Rising wages increase cost for firms and so these are passed onto consumers in the form of higher prices. Also rising wages give consumers greater disposable income and therefore cause increased consumption and AD. In the 1970s, trades unions were powerful in the UK. This helped cause rising nominal wages; this was a significant factor in causing inflation. 4. Imported Inflation. Depreciation in the exchange rate will make imports more expensive. Therefore, the prices will increase solely due to this exchange rate effect. A depreciation will also make exports more competitive so will increase demand. 5. Temporary Factors. The inflation rate can also increase due to temporary factors such as increasing indirect taxes. If you increase VAT rate from 17.5% to 20%, all goods which are VAT applicable will be 2.5% more expensive. However, this price rise will only last a year. It is not a permanent effect. 6. Core Inflation One measure of inflation is known as ‘core inflation’.This is the inflation rate that excludes temporary ‘volatile’ factors, such as energy and food prices. The graph below shows inflation in the EU. The headline inflation rate (HICP) is more volatile rising to 4% in 2008, and then falling to -0.5% in 2009. However, the core inflation (HCIP – energy, food, alcoholand tobacco) is more constant. b. People who are being affected by inflation Macro Economic Effect in Bangladesh: The inflationary situationin Bangladesh is on the rising trend, especially since August 2009, primarily owing to the soaring increase in food prices. The food price hike has accelerated the general inflation rate in the country. If the food price level rises at an existing rate of 1.31 percent per month and if adequate anti inflationary measures are not taken, the overall general inflation might touch a „double digit figure‟. Impact on women and children In Bangladesh, of total 143.91 million population, 69.81 million are women, reflecting 48.5 per cent of totalpopulation. About 86 per cent of women in Bangladesh live in rural areas. Between 2005 and 2006, total femalelabourforce accounts for 12.1 million, of them 2.8 million live in the urban area while 9.3 million in the rural area.In rural areas, they take part in economic activities and earn income through cattle rearing, gardening, poultry etc.About 80 per cent of workers in total labour force are women in the RMG sector. They work at a low rate of wagewhile 26 per cent of female workers earn less thanTk3000 only. Only 3.7 per cent of female workers earn morethanTk 5,000. With the low income and rising price of essentials, it has become very difficult for these women to provide their families with the basic requirements. 1. Increasing prices of foods reduces the real income of households thereby rationing spending on children’s schooling. This as a consequence is likely to reduce the literacy rate among girls in near future. The evidences suggest that in Bangladesh, it is the female children who are firstly taken out of schools if the family is in financial setback. 2. As education, skills and knowledge influence women’s status in the society and at home, they loose their bargaining power thereby their ability to take part in the decision making process shrink eventually. 3. There is a greater disparity in nutrition intake among men and women. Men consume more nutrients than women. The female members in households especially in rural areas take their meals after their male members and children. Studies suggest that it is one  of the main reasons of early childhood malnutrition. 4. Moreover there are many other factors that can be attributed to the maternal nutritional factors, for example, low birth weight of infants, infant mortality etc. 5. In recent years the rise in the price of baby foods has made it difficult for households to provide theirchildren with required nutrition. This is evident even among the middle income groups. According to a government report, the prices of baby food and powdered milk have risen by 30 to 38 per cent over theyear 2006 and 2007. The inability of families to provide proper nutrition for the children may result in undernourishment of children which contributes to increasing child mortality. 6. In Bangladesh, women are subject to violence in the society. Due to rise in the price of food and other essentials, as income of the family falls, tension rises within households and the women are often subject to violence by the male members of the family. 7. It is a common phenomenon that women take the role to provide food and nourishment to the members of family by arranging and preparing food. As a result, they have to bear the burden of rise in the price of food. Inflation erodes income of the poor One obvious consequence of inflation is the erosion of real income of the people resulting from the general increasein prices. The burden of income loss, however, differs across different income groups. No doubt, the householdgroups who are employed in the formal sector and whose salaries/wages are fixed in nominal terms and are re-fixedperiodically are the worst sufferers. The same is true for those employees in the informal sector who have incomefixed in nominal terms. In Bangladesh, a major concern, however, is the inflation-induced loss of real income ofthe poor. Food Inflation Raises Poverty and Inequality Food inflation has a profound nexus with poverty and inequality. Food inflation hits the poor hardest since their purchasing power decreases due to the erosion in real income. From the economics theory, when the real wage decreases demand for labor increases. Therefore, the employment should rise  since there is a tradeoffbetween inflation and unemployment. The result depends on whether the employment effect of inflation outweighs the real wage effect on poverty. But theBangladesh empirical data indicates that the real wage effect on poverty outweighs the employment effect of inflation There exists a positive relationship between food inflation and poverty. . Affect on saving & Investment: Excess inflation has its negative impact on savings and investment. Impact on savings has its direct reflection in the area of investment. Investment, both domestic and foreign, is essential for Bangladesh and it is important for growth and economic development. Affect on invertors: An unfavorable and unpredictable movement of inflation often creates lack of confidence among the investors. Many potential investments face bleak prospect and avoid the game of facing risk and uncertainty. Affect on bank& other financial intermediary: Inflation has its implications for the banking sector as well. Both for the banks and their customers inflation causes a reshuffle in the flow of activities. Rates of interest offered by the banks seem less attractive to the depositors. Bank lending has also a great role in the economy. In recent years there is an increasing trend of providing consumer credit by the banks. It will add to the demand side. But if itscontribution to the supplyside remains weak there will be alack of balance and the bankingindustry will face challenge. Other saving lending channels also face the same consequences from supply side to handle their investment demand. Affect on money supply: The challenge of central bank is to balance between growth and inflation. High inflation always put central bank under pressure to take contractionary monetary policy that might reduce growth. Mainly the people of middle class and poor are greatly affected by the higher inflation rate. A developing country like Bangladesh have higher inflation rate. It creates poor more poor and higher class of the society more higher. 2. Causes of Inflation In developing countries, in contrast, inflation is not a purely monetary phenomenon, but is often linked with fiscal imbalances and deficiencies in sound internal economic policies. Beside, factors typically related to fiscal imbalances such as higher money growth and exchange rate depreciation arising from a balance of payments crisis dominate the inflation process in developing countries. There were different schools of thought as to the causes of inflation. A. Quality theories of inflation The quality theory of inflation rests on the expectation of a seller accepting currency to be able to exchange that currency at a later time for goods that are desirable as a buyer. The quantity theory of inflation rests on the quantity equation of money that relates the money supply, its velocity, and the nominal value of exchanges. Adam Smith and David Hume proposed a quantity theory of inflation for money, and a quality theory of inflation for production After analyzing two theories of causes we have got here some physical cause to face which cover both theories depending on a number of factors. These are given below- B. Excess of money Inflation can happen when governments print an excess of money to deal with a crisis. As result, prices end up rising at an extremely high speed to keep up with the currency surplus. This is called the demand-pull, in which prices are forced upwards because of a high demand. C. Rise in production cost Another common cause of inflation is a rise in production costs, which leads to an increase in the price of the final product. For example, if raw  materials increase in price, this leads to the cost of production increasing, which in turn leads to the company increasing prices to maintain steady profits? Rising labor costs can also lead to inflation. As workers demand wage increases, companies usually chose to pass on those costs to their customers. D. International lending & national debt Inflation can also be caused by international lending and national debts. As nations borrow money, they have to deal with interests, which in the end cause prices to rise as a way of keeping up with their debts. A deep drop of the exchange rate can also result in inflation;as governments will have to deal with differences in the import/export level. E. Government taxes Finally, inflation can be caused by federal taxes put on consumer products such as cigarettes or fuel. As the taxes rise, suppliers often pass on the burden to the consumer; the catch, however, is that once prices have increased, they rarely go back, even if the taxes are later reduced. F. War Wars are often causing for inflation, as governments must both recoup the money spent and repay the funds borrowed from the central bank. War often affects everything from international trading to labor costs to product demand, so in the end it always produces a rising prices. 3. Measures of Inflation Control There are three measures to control the inflation. They are: General Policy of The Government Direct – Action Measures of The Government Other Measures 1. General Policy of the Government: Government follows three general policies to control the inflation such as – Fiscal Policy Monetary Policy Policy of Price Ceiling a. Fiscal Policy: If the government charges more tax on the goods then the particular product’s price will also be high. We will face price inflation. To Summarized issues relating to Deficit Budget: Financed by foreign assistance is dependence and uncertain, Financing by public, not inflationary, Borrowing from commercial banks not inflationary. Borrowing from Bangladesh Bank is inflationary Characteristics of Fiscal System in Bangladesh: Falling/Tax/GDP ratio, Tax base is narrow, Dominance of indirect tax, Customs + VAT (import) 50% of total tax Vulnerable to external fluctuations Growth in Non-development expenditure Heavy dependence on Foreign Aid Dependence on Deficit Financing No Far-sightedness b. Monetary Policy: Monetary policy is the main macro-economic policy formulated and implemented by the central bank. Bangladesh Bank has the authority to increase or decrease the volume of money in the economy and therefore, is responsible for formulating and implementing the monetary policy for the country. The wheel of development moves by taking forces from this policy. The aim of monetary policy is to keep inflation low and steady. Though, in a developing country like Bangladesh, the effectiveness of monetary policies is always uncertain, but effectiveness of these policies is treated as signal for policy makers. The Central Bank is the highest authority employed by the government for formulation of monetary policy to guide the economy in a certain country. Monetary policy is defined as the regulation of the money supply and interest rates by a central bank. Monetary policy also refers to how the central bank uses interest rates and the money supply to guide economic growth by controlling inflation and stabilizing currency. Like any other central bank, Bangladesh Bank is performing the role to formulate monetary policy in Bangladesh. The main objectives of monetary policy of  Bangladesh Bank are: †¢ Price stability both internal & external †¢ Sustainable growth & development †¢ High employment †¢ Economic and efficient use of resources †¢ Stability of financial & payment system Steps of the Monetary Policy: Restriction of broad money growth path Adjustment in cash reserve ratio (CRR) Statutory liquidity requirements (SLR) Restriction in the capital accounts Objectives of the Monetary Policy: The promotion of price stability GDP Growth Ensuring full or near full employment Supporting national and global economic and financial stability C. Policy of Price Ceiling: Price ceiling is a government policy whereby the government sets the maximum price of a product above which price is not allowed to rise further. Normally in a inflationary situation when prices will constantly be going high and high and tending to be going beyond the means of common people. Then government will implement price ceiling policy in order to protect the interest of the customers. Price Ceiling Control: Government must have to be ready to supply the required quantity of goods from its own production land and distribute product at its early declared price as per the requirement if any. Government will have to be ready to import the required quantity of goods under its own mechanism and distribute the product in the market accordingly. Government can ask the private entrepreneurs to import the required quantity of goods under their own management by offering them some attractive benefit packages such as decrease rate of interest, lower import cost, decrease tariff, non-stop support. Government can urge the countrymen to set up import substitute  industry with some attractive incentive schemes and can have the supply of required products for a long time basis. Government can supply the required quantity of goods from buffer stock created earlier by the government and sell the product in the market accordingly. 2. Direct Action Measure: It is an extreme measure. If the money supply increases, then to reduce inflation, Government can cease the money. 3. Other Measure: *Moral persuation: Convincing the consumer by the national leaders morally. They convince the public to consume less. *Government can urge the country man to restrict the consumerism. *Government can urge the business people to set the product at a reasonable price and restrict to sell at a high price. Limitation: In case of elastic demand such as baby food, that is not controlled by the consumer. 4. Effects of Inflation: All people will not be affected by inflation in the same way. Some will welcome it. Some people becomes upset and some acts indifferent. For the business people it will motive the entrepreneure and it is a good news for the producers. People who earn much, inflation is not a problem but who earn poor , they will be very much affected and their product consuming amount will be decreasing. General Effect An increase in the general level of prices implies a decrease in the purchasing power of the currency. That is, when the general level of prices rises, each monetary unit buys fewer goods and services. Increases in the price level (inflation) erode the real value of money (the functional currency) and other items with an underlying monetary nature (e.g. loans and bonds). For example if one takes a loan where the stated interest rate is 6% and the inflation rate is at 3%, the real interest rate that one are paying for the loan is 3%. It would also hold true that if one had a loan at a fixed interest rate of 6% and the inflation rate jumped to 20%one would have a real interest rate of -14%. Negative Effect High or unpredictable inflation rates are regarded as harmful to an overall economy. They add inefficiencies in the market, and make it difficult for companies to budget or plan long-term. Inflation can act as a drag on productivity as companies are forced to shift resources away from products and services in order to focus on profit and losses from currency inflation. Uncertainty about the future purchasing power of money discourages investment and saving and inflation can impose hidden tax increases. In case of international trade, higher inflation in one economy than another will cause the first economy’s exports to become more expensive and affect the balance of trade. Positive Effect Positive effects include ensuring central banks can adjust nominal interest rates (intended to mitigate recessions), and encouraging investment in non-monetary capital projects. It puts impact on Labor-market adjustments, Room to maneuver, Mundell-Tobin effect, Instability with Deflation etc. 5. Global Scenario of Inflation As an important worldwide phenomenon, global inflation varies largely, owing to the trend components of inflation as well as due the fluctuations arising in the frequencies of the commercial cycles. In 2013, the rate of global inflation is surprisingly low. Global economic prospects have improved, but the bumpy recovery and skewed macroeconomic policy mix in advanced economies are complicating policymaking in emerging market economies. Inflation was remarkably stable in the wake of the Great Recession and, in fact, has become less responsive to cyclical conditions. Today’s fast-growing, dynamic low-income countries are likely to maintain their momentum and avoid the reversals that afflicted many such countries in the past. Inflation expectations have remained strongly anchored to inflation targets during the Great Recession and the sluggish recovery. Long-term inflation expectations in advanced economies remain close to targets despite wide variation in actual inflation rates. Even in Japan, expectations remain close to the  1 percent target announced in February 2012 despite a prolonged period of deflation. Furthermore, coincident with greater central bank credibility, this anchoring is found to have increased over time. In the figure bellow the inflation rate of emerging, developed and BRIC countries are graphically shown: In 2013, we have seen that, South Sudan has the lowest inflation rate and Syria has the highest. In South Sudan, current inflation rate is -2.90 which was -8.80 in the previous year. The highest and the lowest inflation rates in the history of this country were 79.90 and -14.00 respectively. On the other hand, in Syria current inflation rate is 49.50 which was 49.90 in the previous year. The highest and the lowest inflation rates in the history of this country were 79.90 and -11.95 respectively. 6. Inflation in Bangladesh The Gross Domestic Product (GDP) in Bangladesh expanded 6.01 percent in the fiscal year 2012/2013 from the previous year. GDP Growth Rate in Bangladesh is reported by the Bangladesh Bank. From 1994 until 2013, Bangladesh GDP Growth Rate averaged 5.6 Percent reaching an all-time high of 6.7 Percent in June of 2011 and a record low of 4.1 Percent in June of 1994. Bangladesh is considered as a developing economy. Yet, almost one-third of Bangladesh’s 150m people live in extreme poverty. In the last decade, the country has recorded GDP growth rates above 5 percent due to development of microcredit and garment industry. Although three fifths of Bangladeshis are employed in the agriculture sector, three quarters of exports revenues come from producing ready-made garments. The biggest obstacles to sustainable development in Bangladesh are overpopulation, poor infrastructure, corruption, political instability and a slow implementation of economic reforms. This page provides – Bangladesh GDP Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-05 Historical Trend Analysis The government introduced policy and institutional reforms encompassing the fiscal, financial, exchange rate, trade and industry, public resource management and public enterprise sectors. But some of those measures were not strongly pursued and some of the intended structural reforms were postponed. Monetary control in the initial years had appositive impact on the control of inflation. The regarded decision are taken below- To increase investible funds with the banks, the minimum cash reserve requirement and statutory liquidity requirement were reduced gradually from 8 and 23 per cent respectively on 25 April 1991 to 5 and 20 per cent respectively. This decision has reduced the inflation rate. In 1991 the lending rate was 14.99 which was high during 1992 but then it started tobe reduced at 14.39 (1993) and 12.22 at 1995. With the flexible use of the monetary instruments, broad money growth (Money Supply) was brought down from high rates of growth (14.1 percent) in the mid-1992to 10.6 per cent in June 1993 to reduce the rate of inflation. In the year 1995 government was thinking to increase the money supply which was brought to 16 percent for that reason inflation rate increased In the year 1995 government was thinking to increase the total domestic credit which was brought to 17.6 percent from 4.9 percent (1994). For this reason the inflation rate increased. In the year 1995 government liberalized Credit to the private sectors in fiscal year1995 by reducing lending rates including those in the three selected sectors of agriculture, exports, and small and cottage Industries had to be restrained due to the rise in price levels. For this reason inflation rate has increased With a view to ensuring an adequate flow of finance to productive sectors and to boosting economic activity, Bank ratewas gradually lowered from 9.8 per cent on30 June 1990 to 5.5 per cent on 3 March 1994 to control the inflation rate. On 24 March 1994 Bangladesh accepted the Article VIII obligations of the International Monetary Fund, a commitment to declare its currency convertible for current account transactions and liberalize exchange transactions on current account. Foreign exchange controls, which had constrained transactions for a longtime, were lifted for the majority of current account transactions. An interbank foreign exchange market has been established. The exchange rate policy is being managed flexibly so as to avoid appreciation of the real exchange rate and to maintain macroeconomic stability. Moderate economic growth and modest change in the wage index contributed to the relatively low  rate of inflation (i.e., lower than 5 per cent) in 1990-1994. Higher money supply growth and lower deposit rate in FY95 contributed to the comparatively higher inflation rates in 1995. In 1996 the lending rate was 13.41 which were accelerated to 14.16 in 1999. Supply shortages in the rural areas originating from political instability in FY96 and disruption due to floods in 1998 caused serious shortfall of food and also hampered all other agricultural production, which ultimately caused higher inflation rates in1996, 1998 & 1999. A lower growth rate, because of lower production and relatively higher depreciation of the exchange rate due to food imports, also contributed to the higher inflation rate in the flood affected years. Larger depreciation of the exchange rate has accelerated the inflation rate 2.79(2002) to 4.38 (2004). Exchange rate might have played a significant role in causing inflation in 2005-2006 because of the introduction of flexible exchange rate regime since May 2003. A higher growth of money supply (13.84 at 2004 to 19.51 at 2006) added a lot to inflation in 2005-2006 In 2001 the lending rate was 13.75 which were lowered to 10.93 in 2005. In 2001-2006 high inflation in food (more than 5 percent) sector at international market was so much responsible for the fluctuation of inflation. Typically import occupies a significant place in the Bangladesh economy, accounting for as high as above 20 percent or more of GDP in FY06. At the margin, most of the essential food items (for example, sugar, rice, wheat, onion and edible oil) and, more generally, machineries, intermediate goods and raw materials used in production are imported. Cost of imports can, therefore, be expected to have substantial influence on domestic inflation (during 2001-2006) directly (through final goods) or indirectly (through intermediate goods). Unfair cartel among the suppliers might seriously hamper the course of the economy by engendering inflation via the creation of a false su pply shortage even during a period of robust growth in production. Such an undesirable event allegedly occurred in FY06 when the food inflation remained high (7.76 percent) in the same fiscal year despite the growth in food production (4.49 percent8 vis-à  -vis 2.21percent in FY05). Monopolistic control of several food items such as sugar, onion, pulses and edible oil by market syndication seems to have led this situation.9Obviously such manipulation is a type of supply side disturbance. Inflation has emerged as a global phenomenon in recent months largely reflecting the  impact of higher food (The IMF food price index was 44.4 percent at June 2008)and fuel prices and strong demand conditions especially in the emerging economies. In line with global trends, Bangladesh also experienced rising inflation with the 12-month average CPI inflation touching 9.94 percent in June 2008. In the fiscal year 2009, global oil price has shifted upward dramatically so fast. So that the price of fuel & power has driven very sharp impact on our economy by increasing the price of Industrial product and reduces the output of industry. Though our government has taken needed initiatives to minimize the inflation rate but they have failed up to the expectation. In the fiscal year 2010, global food price has shifted upward dramatically so fast. So that the price of food has driven very sharp impact on our economy. Though the inflation has decreased to a reasonable rate (5.4 percent), the price of food is beyond to the normal people. Because of the insufficiency of credit to productive sectors it is unable to invest money in productive sectors whereas the money are using in less productive sectors which causes a high rate of inflation. The inflation rate in Bangladesh was recorded at 7.44 percent in February of 2014. Inflation Rate in Bangladesh is reported by the Bangladesh Bureau of Statistics. The general point-to-point inflation rate slightly rose to 7.48 percent in March from 7.44 percent in February 2014 compared to 7.71 percent in March 2013.Inflation Rate in Bangladesh averaged 6.63 Percent from 1994 until 2014, reaching an all-time high of 12.71 Percent in December of 1998 and a record low of -0.02 Percent in December of 1996. In Bangladesh, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. This page provides – Bangladesh Inflation Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. According to Asian Development Bank growth moderated last year, inflation declined, and the current account returned a larger surplus. This year, growth will slip again, reflecting slower expansion in exports, falling worker remittances, and political unrest before parliamentary elections. Higher inflation and a modest current account deficit are expected. The garment industry faces challenges in adopting tough compliance and safety standards. Growth should improve in the following year, but a major boost will come only with ramped up investment in infrastructure. Economic performance As officially estimated, gross domestic product (GDP) in Fiscal Year 2013 (ended 30 June 2013) grew by 6.0%, less than the 6.2% recorded in FY2012. Agriculture growth slipped to 2.2% from 3.1% in FY2012 as crop output was held down by higher input costs, lower output prices, and unfavorable weather. Services growth slowed to 5.7% from the previous year’s 6.0% owing to stagnant imports and frequent hartals (political demonstrations) that disrupted supply chains and affected retail and wholesale trade. Industry growth rose slightly to 9.0% from 8.9% in FY2012, with contributions from construction and small-scale manufacturing. Economic prospects The forecasts for FY2014 and FY2015 rest on several assumptions: Political stability will be restored following the January 2014 national elections, improving consumer and investor confidence. The central bank will be watchful, in line with the January 2014 monetary policy statement, to keep inflation in check while helping direct steady credit flows to the private sector. Electricity and fuel prices will be raised to lower subsidy costs. It will be possible to mobilize more foreign financing, thus limiting government bank borrowing. Food grain and oil prices will remain stable on the international market. And the weather is normal. GDP growth is expected to slow to 5.6% in FY2014, owing to a decline in remittances (which have been equivalent to about 15% of private consumption spending) and as export growth tapers off in the coming months. Domestic demand was depressed in the first half of the year because the prolonged political unrest ahead of parliamentary elections in January 2014 dented consumer and investor confidence. This is reflected in lower private credit growth, a decline in imports of consumer goods and capital machinery, and modest growth in imports of raw materials. Growth is expected to rebound to 6.2% in FY2015, aided by higher remittance and export growth, as well as by prospects for continued economic recovery in the US and the euro area. A likely rise in consumer and investor confidence as the political situation stabilizes is also expected to stimulate demand and strengthen growth momentum. Source: ADB. 2014. Asian Development Outlook 2014. Manila. Effects of Inflation in Bangladeshi Economy Inflation, which some economists have dubbed as the â€Å"cruelest tax of all†, is eroding purchasing power of consumers, especially the fixed and low income groups of people in net commodity importing countries, around the world. Following the persistent high-inflation regimes in the late 1970s and early  1980s (largely due to two oil shocks), inflation rates have varied an average of two to three percent in the industrialized countries and fell to single-digit levels in many developing countries since the 1990s.1 It is widely viewed that globalization has had a positive impact on prices for over one and a half decade by heightening competition both on the demand and supply side. However, the specter of inflation has once again become a major concern for central bankers and policy makers around the world, as many countries have been experiencing high inflation largely owing to a notable increase in commodity prices. The prices of cereals, petroleum products, edible oil, and metals are skyrocketing in the international markets in recent years. Consequently, the commodity price indices have shown an upward trend lately A widely discussed plausible cause of high inflation in Bangladesh is the impact of global price hike. As a food and petroleum importing country, Bangladesh has to bear the brunt of global price hike of these items. Since the beginning of the current decade and up to 2008 global prices of fuel and food followed an increasing trend which got transmitted into the country’s domestic economy. There has been some respite from high inflationary pressure towards the end of 2008 and 2009 due to the global meltdown and the resultant price fall of major commodities in the global market. With the turn round of the global Economy from the recession towards the end of 2009 and beginning of 2010, inflation started to shoot up. This trend was also observed in Bangladesh. The major source of high inflation in Bangladesh is high food inflation. The reason behind this assumption is that food carries a large weight in the CPI of Bangladesh. The weight of food items in the CPI commodity basket of Bangladesh is as high as 58.8 per cent of which the share of rice is 20.1 per cent. Hence the rise in food inflation affects the overall inflation significantly. Based on BBS data, it has been estimated that the contribution of rice inflation to the overall inflation was 23.41 per cent in FY 2011-12. Inflation appears to have emerged as a permanent phenomenon in the economic landscape of Bangladesh over the recent past. It has started to increase since the second quarter of FY2009-10 and continued to rise throughout FY2009-10 and FY2010-11. During the first three months of FY2011-12 there has not been any change in the direction of  inflationary movements. The 12-month point to point consumer price index (CPI) inflation has reached as high as 11.97 percent in September 2011 compared to 7.61 per cent in September 2010. This is the hi ghest inflation in last one decade. As in most years, food inflation was higher than general inflation. Food inflation reached to 13.75 per cent in September 2011 as opposed to 9.72 per cent in September 2010. High food inflation had a knock on effect on non-food inflation as well, pushing it upward to settle at 8.77 percent in September 2011 from as low as 3.69 per cent in September 2010. In Bangladesh the average inflation (general) in FY 2000 was 1.94% while it is found 9.76% in FY 2011. But during these years changes in inflation did not follow any monotonic pattern. Bangladesh faces a tougher challenge in bringing down burgeoning inflation. The latest Bangladesh Bureau of Statistics (BBS) data shows that inflation had increased to 11.97 % (on point-to-point or monthly count) in September, the highest in 10 years. Food inflation, which was 12.7 per cent in August, had increased to 13.90 % in September while food inflation in urban areas had increased to 14.69 % in the same month from 12.94 % in August. The data on inflation reveal that inflation in Bangladesh is influenced by food and fuel prices. Higher food and fuel prices obviously affect inflation rate. The recent declining trend in food and non-food inflation may be explained by the decline in global commodity prices like petroleum, rice, pulses, onion, edible oil and other food items and higher domestic production of food due to favorable weather condition and some effective measures taken by the Government which included conducting open market operation, exemption of duties on essential commodities, sufficient import of food grains, strengthening of internal procurement and its supply, expansion of subsidies on fuel and fertilizer and widening of social safety net program etc. Another feature of recent inflation in Bangladesh is that rural food inflation has been closer to urban food inflation which was not the case in Bangladesh till August 2010. The likely causes for high rural inflation could be increasing demand due to higher purchasing power of the rural population through rising agricultural production, higher labor wages, expanded social safety net program and inflow of remittances. If compared with other South Asian countries Bangladesh stands second, next to Pakistan, in terms of the record of inflation rate in the region. Despite higher food price in the international  market, India has been able to keep its food price index down through higher production of major crops and by ensuring adequate supply in the domestic market. Pakistan epitomizes the case of a conflict economy with a high inflation rate and a very low growth rate. Higher food prices exert an upward pressure on inflation particularly in South Asian countries where such prices account for a major proportion of the inflation basket. High inflation is a major challenge in South Asia, where inflation has been in double digits in recent years and was 10.9 per cent in 2010. Some deceleration in inflation to 8.4 per cent is estimated in 2011. As inflation affects the poor disproportionately, it is a major cause of concern. High budget deficits in general are causing inflation. A few factors are believed to have contributed to the ongoing inflationary pressures in Bangladesh. The price hike of fuel and non-fuel commodities in the international markets is widely blamed for the current inflation. The depreciation in the country’s currency unit, the BDT against its major trading partners, the expansion of M3 and credit have also played a part in raising prices. Bangladesh faced two major natural disasters (summer floods and cyclone Sidr) in 2007 which damaged standing crops, among others, and escalated food prices. The current caretaker governments’ drives against corruption have exacerbated the problem. Last but not least, Bangladesh is not self-sufficient in terms of food production and the country has had a long history of food problems, if not crises. Moreover, in recent years, growth in the agriculture sector has been sluggish. Current indications show that commodity prices in the international market are likely to rise during the coming months of FY12. With greater global economic integration, inflation in Bangladesh is more open now than before to external pressures coming from outside the country. The reasons lie in many factors including high import dependence, increased global pressure of excess demand, weak productivity growth in the domestic economy, and persistence of significant structural and institutional rigidities. The last inflation episode that Bangladesh faced was not policy induced, but was fueled more by domestic supply shocks and global price hikes. But the current buildup of inflationary pressure can partly be attributed to the liquidity expansion  that took place in the first half of FY12. With rapid buildup of net foreign assets (NFA) and in the absence of sterilization, liquidity expansion has created some pressure particularly in asset markets (stock and real estate markets) and in non-food prices. These issues need more explicit consideration in Bangladesh Bank’s monetary policy response along with clear signals for the future. Conclusion 2013 is over but the pains and consequences of inflation are not over yet for the millions of people of Bangladesh. 2013 is a year of political disasters, with record level political violence and frequent abuses of human rights in Bangladesh. At the same time inflation has added as another disaster in the lives of millions of people. High inflation is never good for the economy, let alone the millions of working people of the country. Most of the people country are straightaway experiencing the blunts of high inflation, but these people are the majority and the vital forces of the economy of the country. References: Economic Review of Bangladesh (www.mof.gob) Paul A. Samuelson & W.D. Nordhaus â€Å"Economics† E. Mansfield â€Å" Microeconomics: Theory and Application† John Sloman â€Å"Economics† Akhtaruzzaman, Md. â€Å"Inflation in the Open Economy: An Application of the Error Correction Approach to the Recent Experience in Bangladesh,† Working Paper Series, WP 0602 (2005), Policy Analysis Unit (PAU), Research Department, Bangladesh Bank. Bangladesh Bureau of Statistics. National Accounts Statistics of Bangladesh (Revised Estimates, 1989-90 to 1998-99), Strengthening National Accounts and Poverty Monitoring Project (SNAPMP), National Accounting Wing (NAW), BBS, Ministry of Planning: Statistics Division (2000). Wikipedia (https://en.wikipedia.org/wiki/) Bhattacharaya, D. â€Å"Bangladesh Economy: Macroeconomic Performance,† mimeo, Centre for Policy Dialogue, Dhaka (2004). Available at www.cpd-bangladesh.org (access date: 1, December 2005). Bruno, M. and W. Easterly. â€Å"Inflation Crises and Long-Run Growth,† World Bank Policy Research Working Paper No. 1517 (1995). Khan, M. S. and A. S. Senhadji. â€Å"Threshold Effects in the Relationship between Inflation and Growth,† IMF Staff Papers, Vol. 48, No. 1 (2001). Tobin, J. â€Å"Money and Economic Growth,† Econometrica, 33 (1965), pp. 671-684.

Essay Sample on Design After the Internet Revolution

Essay Sample on Design After the Internet Revolution The introduction of the internet has had a huge impact on most peoples lives, a new source of information and communication, and for businesses, a new area of advertising, marketing and a virtual expansion of the shop floor. With the ever changing requirements of businesses and with all the competition that the global network forces on the market, becoming a part of the internet revolution and having a web site that reflects the services and calibre of a business, has become paramount for most companies. Because technology is improving all of the time, the competition has become fierce and the challenge for the graphic designer to use traditional design practices in a digital environment to create attractive and functional web sites has also become competitive. In the early days of the internet, web page construction was a relatively simple process. there was only one browser for viewing pages, and the constraints of the medium meant that the placement of small images in relation to text was the only consideration. As with designing for print, the graphic designers role is to create web pages with the appropriate visual form. Fundamentally the use of colour, text and imagery stay the same, but there is more to web site design than this. A designer must understand the possibilities and limitations of web design as well as the use of interactivity, where pages can respond to the viewers actions. All web publishing is intended to be viewed on screen. This means that the final outcome of the design may be altered slightly by the viewer, depending on which browser they use or by the set up or preferences they may have chosen for their computer. This becomes a new challenge for the designer because they must adapt to make the best of this environment. The most common factors that can affect the way that a web page is viewed are monitor resolutions and the size of the browser window, there are also differences in the way displays are viewed on a Macintosh and on a PC. This becomes a crucial factor when we consider that most designers work on Macs and over 90% of web surfers use a PC. Another key difference between design for print and design for screen, is that most print designs, i.e.. books and magazines are oriented for portrait formats, in contrast, computer monitors are landscape oriented devices. This means that many existing print designs do not directly translate into good web page designs. Although tall web pages can be scrolled, this is a poor answer to a design problem. A designer must be able to carefully plan and create a structured page navigation system and must understand the limitations of their works intended audiences, not just the possibilities. Interactivity is a key element of any web site. A designers role is to make the site dynamic and create an environment that encourages the user to stay and explore areas of the site that provide more information. Web designers must fully understand the concepts of interaction in order to use them appropriately. The simplest form of interaction is a clickable hypertext link, this provides access to a new page by clicking on the text item displayed on screen. A designer may wish to make link items more interesting by using rollover buttons. These work the same way as text links, but are more visual and provide more feedback to the viewer so it is clear that the item is definitely a clickable link. By using a second rollover image, these buttons may appear to change colour, lighten up or become depressed. Whichever form of interaction a designer chooses to use, the key goal is to produce a functional web site that is aesthetically pleasing and inviting to a universal audience. A designer may be called to work upon a varied range of web sites, ranging from educational, cultural and non profit making organisations to commercial and financial companies. Many companies who entered the cyber market-place early are aware that their original web presence may be out dated and require a fresh look. Due to new technology which now offers greater functionality and scope to web sites, the graphic designer can find challenging and varied prospects within the world of internet design. You can also order a custom research paper, term paper, thesis, dissertation or essay on design from our professional custom essay writing service which provides high-quality custom written papers. Here is a list of the most popular essay topics on design: 1. Questionnaire of design activities 2. Network design 3. How good packaging design increase product sales 4. Service design and variety 5. Interior design 6. Web Design for Graphic Design 7. Information Technology Design 8. Design Arguments History 9. The Seventeenth Century and Graphic Design 10. Business Research Design 11. How will the information help me as an interior designer? 12. The Pros and Cons of  becoming a fashion designer 13. Design and Manufacturing in Industries 14. Transportation design process 15. XML | Applications for Business Process Analysis Design 16. Industrial design 17. Industrial revolution and its effects on victorian interior design 18. Designing Profitable Menus 19. Software Design for Telephone System 20. Importance of Emotional Response in Shelter Design 21. Language design implementation 22. Chip Design

CTA Swapper Test Post

CTA Swapper Test Post SAT / ACT Prep Online Guides and Tips ACT eBook ACT Signup SAT Signup Have friends who also need help with test prep? Share this article! Tweet Allen Cheng About the Author As co-founder and head of product design at PrepScholar, Allen has guided thousands of students to success in SAT/ACT prep and college admissions. He's committed to providing the highest quality resources to help you succeed. Allen graduated from Harvard University summa cum laude and earned two perfect scores on the SAT (1600 in 2004, and 2400 in 2014) and a perfect score on the ACT. You can also find Allen on his personal website, Shortform, or the Shortform blog. Get Free Guides to Boost Your SAT/ACT Get FREE EXCLUSIVE insider tips on how to ACE THE SAT/ACT. 100% Privacy. No spam ever. hbspt.forms.create({ portalId: '360031', formId: '2167ba30-e68e-4777-b88d-8bf3c84579af', formInstanceId: '2', submitButtonClass: 'btn-red-light btn', target: '#hubspot-container2', redirectUrl: 'http://ww2.prepscholar.com/blog-subscribe-thank-you', css: '.post-bottom .hs-form.stacked label {display:none;} .post-bottom .hs-form.stacked .field div.input {padding-top: 55px; padding-left: 300px;} .post-bottom .hs-input {width: 220px} .post-bottom .btn-primary, .hs-button.primary {margin-top:0px; padding-left:350px} .post-bottom .hs-form-field {margin-bottom:5px}' }); $(function(){ $(".exclusive-tip-form #hubspot-container2 label").hide(); }); function replace_tag(a, b){ $(a).each(function(index) { var thisTD = this; var newElement = $(""); $.each(this.attributes, function(index) { $(newElement).attr(thisTD.attributes[index].name, thisTD.attributes[index].value); }); $(this).after(newElement).remove(); }); } $(function(){ replace_tag($(".posts-by-topic h3"), "h2"); }) Ask a Question BelowHave any questions about this article or other topics? Ask below and we'll reply! Search the Blog Search jQuery(function(){ var $ = jQuery; var url = 'http://google.com/search?q=site:' + location.protocol + '//' + location.hostname + ' '; var $searchModule = $('.hs-search-module.20df8524-ad69-4fb9-b0a8-2b8d82a4f5c8'); var $input = $searchModule.find('input'); var $button = $searchModule.find('.hs-button.primary'); if (false) { $input.val(decodeURIComponent(location.pathname.split('/').join(' ').split('.').join(' ').split('-').join(' ').split('_').join(''))); } $button.click(function(){ var newUrl = url + $input.val(); var win = window.open(newUrl, '_blank'); if (win) { //Browser has allowed it to be opened win.focus(); } else { //Browser has blocked it location.href = newUrl; } }); $input.keypress(function(e){ if (e.keyCode !== 13) return; e.preventDefault(); $button.click(); }); }); Improve With Our Famous Guides SATPrep ACTPrep For All Students The 5 Strategies You Must Be Using to Improve 160+ SAT Points How to Get a Perfect 1600, by a Perfect Scorer Series: How to Get 800 on Each SAT Section: Score 800 on SAT Math Score 800 on SAT Reading Score 800 on SAT Writing Series: How to Get to 600 on Each SAT Section: Score 600 on SAT Math Score 600 on SAT Reading Score 600 on SAT Writing Free Complete Official SAT Practice Tests What SAT Target Score Should You Be Aiming For? 15 Strategies to Improve Your SAT Essay The 5 Strategies You Must Be Using to Improve 4+ ACT Points How to Get a Perfect 36 ACT, by a Perfect Scorer Series: How to Get 36 on Each ACT Section: 36 on ACT English 36 on ACT Math 36 on ACT Reading 36 on ACT Science Series: How to Get to 24 on Each ACT Section: 24 on ACT English 24 on ACT Math 24 on ACT Reading 24 on ACT Science What ACT target score should you be aiming for? ACT Vocabulary You Must Know ACT Writing: 15 Tips to Raise Your Essay Score How to Get Into Harvard and the Ivy League How to Get a Perfect 4.0 GPA How to Write an Amazing College Essay What Exactly Are Colleges Looking For? Is the ACT easier than the SAT? A Comprehensive Guide Should you retake your SAT or ACT? When should you take the SAT or ACT? Michael improved by 370 POINTS! Find Out How Stay Informed Get the latest articles and test prep tips! Looking for Graduate School Test Prep? Check out our top-rated graduate blogs here: GRE Online Prep Blog GMAT Online Prep Blog TOEFL Online Prep Blog

What Does “Competitive Salary” Mean

What Does â€Å"Competitive Salary† Mean Sometimes the vocabulary of job searching all seems to blend together into a confusing jumble. Have you seen the phrasing  Ã¢â‚¬Å"competitive salary,† and not been quite sure what it means? Let us help. Competitive salary simply means that the salary they’ll offer will be equal to or more than the industry standard for similar jobs in the same geographical area. That makes it easy to estimate if you do a bit of field research. It also means this company might be more open to salary negotiations. Or that they keep their salary information confidential to protect their employees; i.e. you’ll find out when you’re hired. It also might mean that the company is trying to weed out candidates who are only in it for the money. You might also see the terms â€Å"negotiable salary† or â€Å"market rate.† Those terms usually mean the same thing.It’s Not All in the NumbersRemember: in places where supply is lower than demand, the going rate, or â €Å"competitive salary† will be higher. And also keep in mind that there are other forms of compensation in a package, like benefits. One company might offer a lower salary than another, but more than make up for that in the benefits they are willing to provide.Determine Your GoalsIf you’re looking for a job, the most important things to consider are what you need to support your life. Do your research into the going market rate in your region. Then figure out what the minimum is you’d need to make. Don’t forget to consider things like benefits. What would insurance cost in your state if not subsidized by your employer? How much paid time off would you want in a given year- and how much would that be worth, given the rates? Will this company contribute significantly to a 401k?Once you know what you need, or want, you’ll reach an appropriate moment to bring this up with your potential employer- usually not before the second interview, or when an off er is made at the latest. One option is to wait and see whether the employer brings it up first and saves you the awkwardness of finding a way to steer the conversation in that direction. Once you find your moment, inquire about the compensation.Be StrategicOnce you have your answer, and it’s not quite enough, realize you might not get what you ask for. But don’t walk away! Use what you’ve learned about the â€Å"market rate† to gently and respectfully see if they are willing to negotiate. If you’re the candidate they want, chances are that if they can, they’ll try.Remember: Don’t sell yourself short if you don’t absolutely have to. Stay strong and get your needs met- that way you won’t resent your employer down the line.

Push and pull factors in Syrian migration Assignment - 3

Push and pull factors in Syrian migration - Assignment Example When the war started in Syria, it was a matter of a few bombings which shook the Syrian households. Many of them decided to move away from the neighborhood and come back once the crisis situation is covered (Semple, 2014). However, situations worsened to the degree that many of these people who had only left home for a few days, had to flee the country in order to sustain their families. The United Nations has been undertaking massive rehabilitation programs to ensure that the refugees in the camp are resettled in other countries. Many Syrian families are settled in United States and have been looking to resume normal life. But is it all that easy? Governments may crash and powers might be taken away, but what affects the life of common people the most is the loss of one’s own family, homes, and stability in life. One of the greatest influencers in a person’s life is the education that he receives during childhood and teenage times. Children of such migrant families and those who have stayed back in Syria have not been able to attend a full fledged school for quite some time now. This crash of education system further gives them more reason to migrate to other countries, where at least through education, they will be able to revive their lives and take care of their families. In a study that concentrated on tracing the lives of Syrian families which had been forced to migrate, it was found that the refugees were mostly legal, but there were many sections of them who had migrated illegally and were stuck in the middle of nowhere. According to the survey, it was found that the number of illegal immigrants trying to migrate to Europe had steadily risen over the years, while there was a sharp rise in their number in 2013 (Stevis, 2014). If the world order has to take control of its unfortunate members, then it is high t8ime the major moves were

Neutropenia in the Chemotherapy Patient Essay Example | Topics and Well Written Essays - 1000 words

Neutropenia in the Chemotherapy Patient - Essay Example The study by Cameron (2009) suggests that one of the most effective ways of lowering the incidence of mortality from neutropenia is educating the patients. The paper suggests that letting the patients know what the signs of (febrile) neutropenia are and how they can be recognized will allow patients to understand when to contact their healthcare provider to ensure that they receive treatment for the condition as soon as possible, lowering the mortality of the condition. There are many different side-effects of chemotherapy that can be confused with the development of neutropenia (Nirenburg et al, 2006), but patients should be informed to check for a fever over 37.5C, mouth ulcers and general malaise (Cameron, 2009). The study by Cameron (2009) then goes on to suggest that educating the healthcare providers when the risk of neutropenia is highest and the white blood cell count is likely to be lowest is most imminent during the chemotherapy course. It has been suggested that most chemo therapy treatments are most effective and thus neutropenia risk is highest at the 10-14 day stage of treatment (Hall, 2005) and thus providers and patients alike would benefit from understanding this fact. However, different chemotherapies have different apexes, and thus both patient and provider should understand that the risks may be different dependant on type of treatment received (Cameron, 2009). It has also been shown that the duration of febrile neutropenia in patients with solid tumours can be predicted (Matias et al, 2010). The only data needed to provide this information to a patient or a member of healthcare staff is the aggressiveness of the cytotoxic agents used in that chemotherapy (Matias et al, 2010). This has the benefit of allowing both patients and healthcare staff to predict the severity and duration of neutropenia before the chemotherapy is started, and if the system was imposed thoroughly it could lead to a reduction in the cases of neutropenia. It could also a llow physicians to make more informed choices about the chemotherapy regimen chosen for the patients which could reduce the chances of neutropenia. There is more evidence for the development of a risk assessment tool for those at risk that may help to reduce the rates of chemotherapy-related neutropenia. Donohue (2006) has shown that giving those at risk a colony-stimulating factor (CSF) before chemotherapy is started can give the patients an increased risk of survival and reduced risks of neutropenia (p349). This is more evidence that education would be a useful factor in many situations, as nurses and physicians would need to be educated in using the risk assessment tool, and then understand the results given by this tool. However, after this it would decrease rates of neutropenia in many patients (p350) and thus achieve the goals set out by the PICO-formatted question outlined above. Crawford et al (2004) have also shown that there are assorted risk-factors for chemotherapy patie nts. It has been shown that 'combined cyclophosphamide, methotrexate, and 5-fluorouracil is less toxic than AC or combined cyclophosphamide, doxorubicin, and 5-fluorouraci

ESTELLE v. GAMBLE, 429 U.S. 97 (1976) Annotated Bibliography

ESTELLE v. GAMBLE, 429 U.S. 97 (1976) - Annotated Bibliography Example After a few days of treatment Gamble was reinstated to his normal duties but still complained of pains. He was sent to administrative segregation under the care of another doctor. He was taken to the prisons’ discipline committee for scrutiny and admonished to work but declined with complaints of intense back pain. While in confinement, Gamble asked for a chance to meet the doctor for further treatment but the prison but was denied the opportunity by a prison warded. This left him with no option but to continue suffering the pains. Gamble sued W.J. Estelle who acted as the Junior Director in the Department of Correction, H.H. Husbands who was a prison warden and Dr Gray Ralph, a medical practitioner in the Texas Department of Corrections. In the presentation, Gamble claimed infringement of his right to fair treatment envisioned in the Eighth Amendment to the US Constitution by the triple when he was subjected to inhuman punishment leading to his back injuries. The court had to determine if the prisoner was subjected to deliberate indifference treatment by the prison officials. The court also had to determine whether the complainant received any medical attention after the injury as per the requirement of the law. In addition, the court had to determine if the complainant had access to a health professional within or after the timeline when he placed his request. Furthermore, the court had to find out whether the patient was relieved of his duties immediately after reporting the injury and during treatment. The most fundamental issue was to determine if at any case the prison officials violated the cruel and unusual treatment clause of section 42 of the Eighth Amendment to the US Constitution. Since the plaintiff, Gamble had been subjected to harsh and severe treatment while in prison, the legal principle most applicable is the Eighth Amendment protection

Administrative Law Essay Example | Topics and Well Written Essays - 1500 words - 2

Administrative Law - Essay Example etical case of Jen who has been refused GM-Free accreditation licence by the WA Minister for Primary Industries Therefore, the arguments herein present the tenets of procedural fairness in relation to an appeal to review administrative decision which has purportedly denied the applicant the expected due PF in line with the prevailing legislation.2 In its chronology, this paper looks at the basis of power and evidence used by the decision maker to arrive at the resolution in question. On the other hand, the discussion hereafter considers the legal facts as to whether Jen can effectively invoke denial of PF success in a judicial review of the Minister’s decision. Primarily, the legal framework of administrative law provides that an applicant must have been aggrieved by an executive decision for which a judicial review is being sought (Halliday, 2004: 146). Moreover, the Commonwealth Law allows the aggrieved individual to seek judicial review of an administrative decision that has perpetually compromised his personal interest as distinguished by Edley (1992:139) in the case of FAI Insurance; Blyth District Hospital Inc v South Australian Health Commission.3 In the case presented before us, Jen applied to the WA Ministry of Primary Industries for accreditation as a GM-Free canola grower in line with the requirements of the WA Genetically Modified-Free Grain Security and Accreditation Act 2006. Unfortunately, the Minister denied her accreditation on grounds that her property was deficient of the provisions of Section 10 of the aforementioned Act hereinafter referred to as the Act. In arriving at the decision, the Minister instituted Section 5 assessment as well as subsequent Section 12 inspection to ascertain the integrity of Jen’s property as read with the Ministerial Policy to safeguard the public interest against GMO contamination. Prior to Jen’s application, there was a prevailing Ministerial Policy advising against GM-Free accreditation for growers

Triceratops, Sabor Tooth Tiger, Homosapiens, and the Quagga Essay

Triceratops, Sabor Tooth Tiger, Homosapiens, and the Quagga - Essay Example Although it was believed to have existed for more than 10.000 years ago, its fossils were only found in 1841. Sabertooth tigers were carnivorous animals as explained by Michael Henderson, paleontologist and curator of earth sciences at the Burpee Museum of Natural History in Rockford. These animals were efficient-killing machines and preyed on deer, bison, ground sloths, mastodon and even small mammoths. Their 7 inch-long teeth proved helpful in their hunt for bigger animals. In fact: "Saber-toothed cats came up with an efficient way to dispatch their prey by evolving enlarged canines. Big cats, such as lions and tigers, often kill their prey by suffocating it. They bite down on the neck of their prey and cut off its air supply. ( qtd. from â€Å"Oversized Teeth Helped Saber† 1). The La Brea Tar Pits in California is a testimony of how smilodons were trapped while feeding on mammoths. The extinction of the saber tooth has been a puzzle to many scientists up to now. One hypothesis for its extinction is the end of Ice Age. According to Anton ( 2002 ) â€Å"Pliocene also brought a significant decline among the machairodont cats. From the variety of genera existing during the late Miocene (Machairodus, Paramachairodus, Metailurus), only the large metailurine Dinofelis persisted In their turn, the group of modern felids with conical canines increased their diversity with the appearance of the first members of the Lynx group ( p.213). In short, the saber-tooth cannot adapt anymore to its environment that is why other feline species replaced it. Humans, that’s what homo sapiens are. Bipedal primates that belong to Hominidae, the great ape family. Homo sapiens were known as hunter gatherers before the introduction of domestic farming came about. They were nomads who travelled from one place to another in search for food. Homo sapiens know how to use tools to defend themselves or to stage an attack on a prey which is usually an animal. The vegetation of

Is Washington Irving an Anti-Feminist Research Paper

Is Washington Irving an Anti-Feminist - Research Paper Example Irving thus became reputable not only in England and America but also internationally. Although criticized by his contemporaries as mere imitator and recycler of antiquated British styles and German tales rather than a creative genius, his innovative style of writing, remarkable use of literary techniques and vivid description of his fictitious characters, notably Rip Van Winkle and Ichabod Crane, in the backdrop of rural America made his short stories leave a deep impression on his readers’ imagination until today. In fact, his famous immemorial short story Rip Van Winkle had become instrumental in the development of modern short story as a distinct American literary art form. (Andrà ©s and Requena 27; Oates 17) He was also ascribed the status of a classic American writer decades before his death. More remarkably, Irving achieved his renown as a writer at a time when literature was perceived in America to be a dangerous profession due to the racial prejudice of the superior British literary establishment; literature in America then was all imported. (Andrà ©s and Requena 26) â€Å"The real risk,† Rubin-Dorsky commented, â€Å"involved in the response of the British literary establishment, which had been merciless in its criticism of American writers, chastising them for their defective taste and brutish manners† (507). In fact, Irving achieved his reputable literary status because he was able to successfully secure the approval of European readers without having to renounce his American identity (Cunliffe 85). Seeing his English readers greatly admiring his works, Irving realized he could boast his American identity through his pen. So, he used his flair in writing to make kn own the American West to the rest of the world, and to pay homage to one of the Founding Fathers and the First President of the United States of America, his namesake, George Washington. (Elliot 171) The above descriptions evidently show how highly

Triceratops, Sabor Tooth Tiger, Homosapiens, and the Quagga Essay

Triceratops, Sabor Tooth Tiger, Homosapiens, and the Quagga - Essay Example Although it was believed to have existed for more than 10.000 years ago, its fossils were only found in 1841. Sabertooth tigers were carnivorous animals as explained by Michael Henderson, paleontologist and curator of earth sciences at the Burpee Museum of Natural History in Rockford. These animals were efficient-killing machines and preyed on deer, bison, ground sloths, mastodon and even small mammoths. Their 7 inch-long teeth proved helpful in their hunt for bigger animals. In fact: "Saber-toothed cats came up with an efficient way to dispatch their prey by evolving enlarged canines. Big cats, such as lions and tigers, often kill their prey by suffocating it. They bite down on the neck of their prey and cut off its air supply. ( qtd. from â€Å"Oversized Teeth Helped Saber† 1). The La Brea Tar Pits in California is a testimony of how smilodons were trapped while feeding on mammoths. The extinction of the saber tooth has been a puzzle to many scientists up to now. One hypothesis for its extinction is the end of Ice Age. According to Anton ( 2002 ) â€Å"Pliocene also brought a significant decline among the machairodont cats. From the variety of genera existing during the late Miocene (Machairodus, Paramachairodus, Metailurus), only the large metailurine Dinofelis persisted In their turn, the group of modern felids with conical canines increased their diversity with the appearance of the first members of the Lynx group ( p.213). In short, the saber-tooth cannot adapt anymore to its environment that is why other feline species replaced it. Humans, that’s what homo sapiens are. Bipedal primates that belong to Hominidae, the great ape family. Homo sapiens were known as hunter gatherers before the introduction of domestic farming came about. They were nomads who travelled from one place to another in search for food. Homo sapiens know how to use tools to defend themselves or to stage an attack on a prey which is usually an animal. The vegetation of

Market Structure Research Paper Example | Topics and Well Written Essays - 2000 words

Market Structure - Research Paper Example any new firm can enter the market because of no restrictions such as high setup cost, legal barriers or any other. All the firms are earning normal profit as there is strong competition within the industry. Secondly, homogenous products are produced, i.e. all products are identical or standardized and are substitutes of each other, thus sharing the same price as well (â€Å"Dewett, 1983†). An imperfect competition is where there are not many producers in the market and there is less competition as buyers and sellers are not fully aware of the prices so different prices exist for same product in the market (â€Å"Dewett, 1983†). There are three forms of an imperfect market: Monopolistic Competition: Under this structure, there are few sellers as comparedwith perfect competition and the products produced are differentiated due to branding, which gives the producer a way to have his own pricing policy and thus can earn more than normal profits (â€Å"Dewett, 1983†). Oligopoly: there are a few suppliers in the market in this structure, and every supplier has a substantial control over the prices, and output produced because few suppliers control the entire supply in the market. There is strong rival consciousness because of the interdependence of suppliers. There is a possibility of product differentiation as well as substitute products, and the price-output policy of each supplier depends upon the degree of homogeneity or heterogeneity (â€Å"Dewett, 1983†). Monopoly: There is a single seller or producer who controls the entire market. As he controls the whole supply, he can fix the price and earn abnormal profits. There are high barriers to entry and exit from this industry, which prevents competitors from entering into it (â€Å"Dewett, 1983†). It’s a one firm industry in which there is no need for differentiation because no substitutes are available. There is a single product completely under the control of a monopolist who is the price maker(â€Å"Dewett, 1983†). 2. Identify one real-life example of a market structure in your local city and relate your example to each of the characteristics of the market. There are different industries or markets operating in a city, with each of them following a different market structure according to the nature of the business there. One such dominant industry is the women’s clothing, which is operating in the monopolistic competition market structure. It is a real-life example of this structure, and one can clearly categorize its features as those present in this market structure. There is a high number of sellers in the market with each producing a differentiated product and heavily advertising and promoting its brand name to create customer awareness. The aim of firms is to crate brand loyalty, which allows them to charge a higher price than their competitor, meaning that sellers have some control over price but not full control because of thei r interdependency. In long-run, firm with effective advertising and innovation will only earn normal profits because of the competition as it will not be able to charge too high a price. However, in short run, some firms can earn abnormal profits with their non-price competition, quality, design or attractive advertising, just like in women’s clothing. The products are produced almost same style except some variation in the designs, quality and a strong brand name associated with it. There is

Timing of the Emancipation Proclamation Essay Example for Free

Timing of the Emancipation Proclamation Essay Abraham Lincoln is considered today, to be one of the best presidents of the United States. However he was despised by many at the time of his election. When he was elected a number of states in the south insisted that they would not be governed by him and wanted to secede. By the time he of his inauguration seven states had already seceded with four more following shortly after. The Confederates seceded because they feared that slavery would be ended, and they felt it was too important to their economy. Their actions are still considered to be too severe because although Lincoln was against slavery, he was not prepared to take any direct action to stop it. He believed that if he stopped to spread of slavery then it would die out in the far future. He also believed the slaves did not believe to become American citizen and should be shipped back to Africa after they gained freedom. Abraham Lincoln said he only cared about preserving the United States of America and joining the Confederacy back to the Union. Lincoln saw Fort Sumter as the perfect opportunity to bait the Confederates into war. Fort Sumter was a Union fort in South Carolina, and President Lincoln decided to send supplies there, knowing it would upset the Confederates because it shows that the union had no plans of giving it up. The Confederates respond by firing on the fort for thirty-three hours and completely destroyed it, but not killing anyone. This is considered the first battle in the Civil War and what started the fighting. The Union people thought that it would be an easy win for them but the Confederates comes strong out of the gate. The Union was struggling with finding a general that could create the winning formula. The Union lost some key battles early on; however it filled them with passion and made them hungry for victory. Eventually Ulysses S. Grant took the reins and the Union wen t on to victory. Abraham Lincoln started his presidency with no plans to directly end slavery, and the war started with the sole intention of restoring the Union. He stated â€Å"My paramount objective is to save the union†¦ and is not either to save or destroy slavery. If I could save the Union without freeing any slave I would do it, and if I could save it by freeing all the slaves I would do it; and if I could save it by freeing some and leaving others alone I would also do that† (Roark 369). However as the war went on it evolved and became a fight for the freedom of the slaves. Lincoln wanted to free the slaves immediately, but there were still slave states left in the Union and if he had done anything like that they might secede too, and if he lost them he knew he could lose the war. Therefore he had to wait for the right time to declare any end of slavery. On January 1st of 1863 he decided that time was right and issued The Emancipation Proclamation which gave freedom to all the slaves in the rebelling states. Also to help keep the slave states in the Union he exempted that from the proclamation. Since the Confederation did not fall under the Union, the proclamation depended on victory for the Union. The Times in London was quoted saying â€Å"Where he has no power Mr. Lincoln will set the negroes free, where retains power he will consider them as slaves† (Roark 370). While it may appear as if they are right the thought was that as they passed invaded confederate lands and captured them they slaves would gain freedom. Lincoln waited before proclaiming emancipation this because he needed to prove his worth to the Upper South. Had he passed it earlier they would have seceded and it would have been a major loss to the Union army.

Bottom Up Approach Of Urban Planning

Bottom Up Approach Of Urban Planning Some developing countries like India and China have adopted the bottom-up approach in urban planning, solving the urban problems faced by their cities. The reason of the emergence of this phenomenon was obvious that the central governments of the developing states need to pay more attention to boost the nations economy while cities of the states are still facing a lot of urban problems like poor living environment, poor public infrastructure, lack of housing, over-crowding, pollutions or even widespread poverty. Bottom-up approach of urban planning generally means that local governments or committees formed by local citizens are responsible for urban planning of their own districts, solving the urban problems and planning their future development, and thus the districts link together to make the whole nation or region become more developed. In this paper, advantages and disadvantages of the approach will be covered and examples of cities in developing countries like China and India will be cited before having the final conclusion. It cannot be denied that the bottom-up approach is more man-centered than the classic Top-down approach which means the districts need to follow the guidelines and instructions of the central government to develop. Also, the voices of the citizens can be listened during the policy making and planning of the future development of the districts. Decision making is faster and desperate and serious problems of districts could be alleviated or solved in a shorter time. AR.UTTAM K.ROY (2009) had a research on West Bengal in India and wrote a report called Integration of Top down and Bottom up approach in Urban and Regional Planning: West Bengal Experience of Draft Development Plans (DDP) and beyond. According to the report, West Bengal enacted the West Bengal Municipal Act in 1993 to decentralize spatial and socio-economic planning of different districts. Municipalities and municipal corporations are required to prepare the Draft Development Plans of five years. AR.UTTAM K.ROY (2009) found that DDP could really involve people in the problem identification, prioritization and validation of the plan and desperate and serious urban problems faced by the people were alleviated. Besides, Bottom-up approach could reduce the burden of the central government and more central resources could be used for macro-economic development. As mentioned by P.K. Mohanty(1999),the Director of Ministry of Urban Affairs and Employment of New Delhi in India, in a book chapter, Decentralization Reforms and Innovations in Municipal Management in India, Decentralization, if pursued properly, is likely to yield various benefits, including:..freeing of central resources for macroeconomic concerns such as stabilization, structural adjustment ,and poverty alleviation. On the district level, local resources could be exploited and allocated better. Thus, the efficiency of service delivery could be improved. Also, as citizens have a greater chance to involve in urban planning and decision of policies, grass-root democracy could be promoted. As their opinions could be listened and accepted and social problems could be solved, social stability can also be raised. Stable and peaceful society benefits the development of local economy. However, such planning approach also has some disadvantages. Firstly, some long-term planning cannot be drawn up sometimes. When local people can get involved in urban policy making, they may only focus on the issues related to the immediate needs of citizens. According to the book Planning from the bottom up written by professor Anirban Pal(2008)of Delft University of Technology and the repor by AR.UTTAM K.ROY(2009)cities which used the bottom-up approach, the local planning organizations or committees like the districts in West Bengal in India can seldom come up with the development projects for future residential growth or future spatial land use plans. And small scale projects like opening up of green space, creation of health centers, beautification of parks remain the majority of the work of the local committees and organizations. Therefore, some professionals doubt that whether the bottom-up approach is a good urban planning method for cities sustainable development or not. In fact, the lack of long-term plan of the development of the city and spatial land use plans would make the land use pattern of the cities become chaotic, raising other kinds of social problems and hindering the long-term development of the cities. Secondly, the bottom-up approach can lead to competitions between different districts within cities which can result in social instability. Professor Anirban Pal (2008) used Beijing, the capital of China, as an example in his book Planning from the bottom up. Different districts in Beijing are now trying to carry out different policies to raise their own attractiveness for foreign investments. The district level governments compete in carrying out widespread redevelopment and forced evictions. This has led to social unrest in Beijing. Therefore, it can be seen that bottom-up approach may lead to social instability if district level governments are too ambitious. Thirdly, the process of planning would not be truly bottom-up if the local district power is concentrated in the hands of one political organization and there are few channels for the local citizens to get involved in the planning process. Such problem can be found in Kolkata according to V.Ramaswamy. The ruling party in Kolkata has great power and high social status and thus there is no effective opposition to it. And the ruling party control the urban policy making and planning and local citizens do not have so much chance to get involved in the planning process .In this case, the process of planning is not really bottom-up to a large extent. This also shows that the planning organizations should be independent of the ruling parties. If not, the bottom-up approach can never be really effective. Moreover, there is a problem of lack of expertise in LDCs. It is not uncommon that citizens of LDCs do not hold a high education level. Although local citizens have the rights in planning the development and the land uses of the cities, most of them do not have the professional knowledge in the area of urban planning and urban policy. Just like in India the education level is low, more than 140,000,000 people do not have primary educational level and only about 400,000 people have received tertiary education level. Therefore , it is very difficult to guarantee the plans drawn up by the local organizations without expertise are long-term plans which can benefit the growth and development of the cities. The local groups may only concern about the immediate needs of the local people, neglecting environmental conservation and long-term socio-economic development. From the above, it can be seen that the bottom-up approach also has certain limitations and such approach may even harms the long-term development of the cities in LDCs. However, it is very obvious that the urban problems faced by citizens in LDCs cannot be solved easily by the traditional Top-down approach as the central government may focus on the development of whole country rather than district issues and it is very hard for the central government to recognize every district issues. Thus, it seems the bottom-up approach is the most effective method to solve the immediate issues in the districts and satisfy the needs of the local people. Furthermore, if the local immediate problems like poverty, poor living environment could not be solved, the development of whole country would be hindered. To put it simply, the bottom-up approach is a good urban planning method for LDCs when tackling the urban problems in the districts but not so beneficial for further development. In order to achieve sustainable development, cities of LDCs should adopt an approach which consists the elements of Top-down approach and bottom-up approach .This means the government can set up general guidelines and instructions for the districts to follow while granting them enough freedom and resources in tackling local affairs and drawing up plans of future development. Also, Kurian Joseph, R. Nagendran (2007) and Kumar. SA jay (2007) recommended in their papers, Top-Down And Bottom-Up Approach For Sustainability Of Waste Management In Developing Countries and Participatory Spatial Planning A Model from Kollam District, espectively that groups of multi skill professional should engage in the process of planning and tackling urban problems. In fact, tackling issues like environmental problems especially needs the engagement of the professionals. Whats more, in order to facilitate the urban planning process, the central government should enact laws to restrict the participation of politicians like members of ruling parties and government officials in local urban planning, educate the public and raise their awareness on the urban problems around them and start introduce the concept of sustainable development to the communities. For the general development of whole country, central government should monitor the development of different districts and avoid vicious competition between the districts which may lead to social unrest. When vicious competition emerges, central government should intervene in order to make the political scene and society stable. However, it should be noted that the state government should not intervene so much if there is no vicious competition between cities. According to the paper which is called Vision 2021: Urban Governance in India by Dinesh Mehta(1999),the state government should intervene as little as possible if the cities develop in a right way. All in all, the bottom-up approach is a good urban planning method which can really address the problems faced by the local citizens of LDCs. But the classic Top-down approach still cannot be forgotten as it is good for cities further development. Therefore, an approach which integrates both approaches would be a suitable way for cities of LCDs to achieve sustainable development.

Andrew Carnegie :: essays research papers

Andrew Carnegie was not only an outstanding industrialist, but also a great philanthropist. In the excerpt from page 105, Carnegie is stating that an end to Individualism would result in a revolution not an evolution because it is changing human nature itself, and there would be no way to know if it would even be a change for the better. This excerpt was one trying to convey a communist utopia; a policy of working for the better of each other, not just for the individual alone.   Ã‚  Ã‚  Ã‚  Ã‚  This concept of ending Individualism and beginning one class of people, is one that arises with each leader (especially communist) trying to change a society during this period of history. I don’t believe, however, that Andrew Carnegie was trying to become a leader or begin a revolution. He was strictly stating his opinions on wealth and in turn giving that wealth away. Carnegie was a man of many contradictions. He was the wealthiest human being of all time, and he was convinced of the value of poverty in developing character.   Ã‚  Ã‚  Ã‚  Ã‚  In Carnegie’s later life, I believe he had realized his selfishness with his wealth and felt the need to give it away. In the excerpt, I feel he was assessing his own situation of wealth and was trying to encourage the rest of mankind to not live the type of life he had experienced. He stated, â€Å"it is a nobler ideal that man should labor, not for himself alone, but in and for a brotherhood of his fellows, and share with them all in common†¦Ã¢â‚¬  I sense that the reason he made this statement was to encourage mankind to give away their wealth and not hold it for their own possession. Carnegie felt that society should work together instead of individually.   Ã‚  Ã‚  Ã‚  Ã‚  In many ways I agree with his statement, but I don’t feel that this is a feasible concept. Individualism is something I wouldn’t want taken away from me because I wouldn’t be able to have that constant desire to better myself.