Feminism In The Awakening - 1562 Words

When beginning to categorize the social issue of feminism, it is a sensitive topic that must be inclusive of all genders. The modern term of ‘feminism’ is defined as giving both men and women the same rights and privileges as each other. Basic human rights would give others the notion that this is how all humans should have been treated from the beginning. However, this is far from the truth. Books like The Awakening, give us an inside look at how women were treated around 100 years ago. When Kate Chopin wrote The Awakening, she created a blueprint for how we see modern feminism. Without being obvious, Chopin showed how one woman started to liberate herself from an oppressive society. During the 1800s when the book was published, the role†¦show more content†¦(Christina R. Williams 2008) In contrast, Edna is not close to being the mother-women children; but I wouldn t give myself. I can t make it more clear; it s only something which I am beginning to comprehend, which is revealing itself to me.† (Chopin 10-13) Edna does not run towards her children if they have fallen or tend to them if they are sick. However, she is caring for them and demonstrates such when she buys her children chocolates or periodically hugs them. She begins to open up to the idea that women don’t necessarily have to lose their identities to their children to show love or even have children at all. In the present day, debates and books have begun to show a huge advancement in the expectation of women in motherhood. It is argued that the ‘motherly instinct’ to which Edna referred to is only a societal idea and that women do not have to feel guilty if they do not experience it. (Jessica Bennett 2012) Edna combats the idea of how a mother should act subconsciously and her ideas are now seen in present day society. Even though she has the epitome of motherly instincts as her friend, Edna manages to be her own person with her own plans on how a woman should as a mother. Referring once again to the ideas of true womanhood, we go into Edna’s role as a wife and how she combated against those ideas. A perfect wife would be described as submissive, tend to the house, and not work. (Christina R. Williams 2008) InShow MoreRelatedFeminism; the Awakening868 Words   |  4 PagesThe Emergence of Feminism In the 19th century women were supposed live by concept of Republican Motherhood. Republican Motherhood is the idea that American women had a few main roles, to stay in their homes, to train their children to be good American citizens and to follow the demands of their husbands. This reinforced the idea of that a domestic womens life should be separate from the public world of men. Feminism is a collection of movements aimed at defining, establishing, and defending equalRead MoreFeminism In The Awakening1329 Words   |  6 PagesThough it was not common during the 1800’s, some women did not want to assume the traditional role of a typical Victorian lady. In Kate Chopin s The Awakening, this is just the case; she introduces us to Edna Pontellier a mother and wife during the said era. Throughout the story, we follow Edna s journey of self-discovery and self-expression through emotions, art, and sex thanks to the help of people she meets along the way. Chopin decides to end the book with Edna’s suicide to try to convey aRead MoreFeminism In The Awakening1193 Words   |  5 PagesTHE AWAKENING LAP TOPIC #3- EXPLORE HOW EACH MAN IN EDNA’S LIFE ATTEMPTED TO CONTROL AND/OR REPRESS HER EXISTENCE.. NICHOLE NARINEBRIJBASI In the time era of the 1800s, women were regarded as the weaker sex to society. Gender equality wasn’t the focal point of society as yet, leading to the oppressive mindsets of women. Men were viewed as â€Å"superior† because of their masculinity and righteousness that society had implanted into our view of socialRead MoreFeminism In The Awakening1506 Words   |  7 PagesThe Awakening LAP Topic 1 By: Lourdes Rivera AP Literature Mr. Amoroso Rivera 1 Courageous, brave, and valiant are all characteristics that are necessary for one to possess in order to be heroic. The actions an individual takes dictates the kind of person they are and the actions of a hero reflect these characteristics. If the world is against a group of people, it takes a heroic person to break away from the oppression set to hold them down. Women have faced tremendous oppression from the ideologyRead MoreFeminism In The Awakening2069 Words   |  9 PagesThough it was uncommon during the 1800’s, some women didn’t want to assume the traditional role of a typical Victorian lady. Such is the case in Kate Chopin s The Awakening; she introduces us to Edna Pontellier a mother and wife during the said era. Throughout the story, we follow Edna s journey of self-discovery and self-expression through emotions, art, and sex thanks to the help of people she meets along the way. Chopin decides to end the book with Edna’s suicide in an attempt to convey a senseRead MoreThe Awakening Feminism Essay1262 Words   |  6 PagesAfter reading The Awakening, by Kate Chopin, I believe the text is feminist. Whether Kate Chopin was deliberately writing for early feminists or not, the book has many early feminist ideas and it is shown through the main characters awakening by being eccentric. The author uses Edna Pontellier as an anti-conv entional woman, breaking societal laws that govern her life, in search for individuality in a society that represses her. From a reader’s perspective in the early 1900’s, Edna would be a mentallyRead MoreThe Awakening Feminism Essay1689 Words   |  7 PagesComing into the nineteenth century, women were looked at as feminist. â€Å"Feminism,† as we know the term today, was nonexistent in nineteenth-century America (Cruea 187). Feminist describes as someone embracing the beliefs that all people are entitled to freedom and liberty within reason. Gender, sexual orientations, skin color, ethnicity, religion, culture or lifestyle should not be considered as a form of discrimination. Women roles, in the nineteenth century, were to take care of the cooking, cleaningRead MoreEssay about Feminism in The Awakening986 Words   |  4 PagesIn the novel The Awakening, by Kate Chopin the critical approach feminism is a major aspect of the novel. According to dictionary.refe rence.com the word feminism means, â€Å"The doctrine advocating social, political, and all other rights of women equal to those of men.† The Awakening takes place during the late eighteen hundreds to early nineteen hundreds, in New Orleans. The novel is about Edna Pontellier and her family on a summer vacation. Edna, who is a wife and mother, is inferior to her husbandRead MoreThe Rise Of Feminism In The Awakening By Kate Chopin711 Words   |  3 PagesFeminism is the liberation of women and their rights as human beings. The feminism that we see today started in 1960s, but the issue began way before the 1960s. In the 1890s, Kate Chopin wrote a novella called The Awakening to tell the story of the rise of feminism within a character named Edna. In The Awakening, Kate Chopin creates feminism before it’s time by using Edna’s attitude toward her lovers, the freeness of the scenery, and her motherly attitude. These traits that Edna possesses are extremelyRead More Analysis Of Proto-Feminism In The Awakening By Kate Chopin838 Words   |  4 PagesProto-Feminism is defined as a philosophical idea in which feminism existed in a time period it was expected to be unknown. Before the 20th century, women’s liberation was not a familiar concept to society, however a great variety of literature from this time period displayed how women defended themselves for the independence and freedom they lacked. Along with the many novels written in this time period, The Awakening written by Kate Chopin in 1899 justifies this philosophy. Edna Pontellier, the

Common Wealth Bank For Marketing Strategy †Myassignmenthelp.Com

Question: Discuss About The Common Wealth Bank For Marketing Strategy? Answer: Introducation The bank gives financial services as well as some products to their customers. The ethics of the company must be remaining intact while the company deals with its customer of Australia. Selling the new product to the community must give the company more strategic advantage. A thorough market research and development can be further help in developing the strategy (Mohanty, 2012). The bank communicates the message to its retail customers through marketing. The media for marketing must be chosen according the target customer segment. The relationship manager can target the potential clients through business development activities. Product The bank has different products like masters, visa cards. Their master card is accepted in different locations all over the world. They can target the market through different loyalty and awards programs. As the bank must focus on the relationship management with the customers more because that what drives the customers to more engage with the company for further relation selling (Tudor et al., 2012). The innovation in the new services offered must be popular among the target marketing. This will also ensure the effectiveness of the popular innovation focused on the Home Loan products related activity. Pricing The pricing for bank products is really ensured to reach maximum profit. Their only 12 % market share must be in the retail corporate markets are based on mark up pricing method. The new products that they are offering must be exclusive and distinctive (Ivens and Valta, 2012).. The available substitutes must not be readily available for that would affect the pricing and the revenue. The high valued strategy must be also backed by strategies that are effective pricing. First it can adapt to penetration pricing but then they can also use price skimming strategy at initial stage as the new innovative products may have some affects in price skimming. Their debit rate interest schemes of CBA are a high valued strategy for their corporate clients. Place The channels, that the company uses gives them a competitive advantage. Improving their channel distribution among all the branches can increase the visibility of their banks, thus their products. Their online presence can be optimised. The demographics of their target market and their can also be developed by developing the customer distribution model (Mokaya et al., 2012). To take more advantage of the location they should increase the number of ATMs, new cards and award points calculators and call centres and also increase training of their staff. Promotion The audiences of CBA and online website are very effective way to reach the website. In addition, the radio advertisements, television and newspaper advertisements are also effective way of approaching the community customers (Tudor et al., 2012). The direct mails and donations schemes are also very good for attracting people to buy their products. The promotion of community credit card can position them in being unique, fair and ethical. The taxation return claims and different gift and donations schemes for their company can be usReferencesess Process is a essential part of the banks operation. Innovation in process is can be done through the technology inclusion as done in the UK banking sector and they can optimise the process in banks operation in radical and incremental change process (Ivens and Valta, 2012). References Ivens, B. and Valta, K.S., 2012. Customer brand personality perception: A taxonomic analysis.Journal of Marketing Management,28(9-10), pp.1062-1093. Mohanty, S., 2012. Indian Shampoo Brand Positioning: Multi Dimensional Scaling Approach.International Journal of Computing and corporate research,2(5). Mokaya, S., Kanyagia, P. and Wagoki, J., 2012. Market positioning and organizational performance in the Airlines industry in Kenya.International Journal of Arts and Commerce,1(4), pp.121-132. Tudor, E.D.U. and Negricea, I.C., 2012. Brand Positioning-a marketing resource and an effective tool for Small and Medium Enterprises.Journal of Knowledge Management, Economics and Information Technology,2(1).

Omis free essay sample

Information is perhaps the most important of all business resources, and the ability to manage it effectively on a global level is a essential organizational capability. Information systems are the tools that firms use to manage information, and it is critical for managers to understand how to use them. This course introduces you to key information systems concepts, Issues and questions that will help you to accomplish this. The focus of the course is managerial little prior knowledge of information systems is required, and you certainly wont be doing any programming!It is assumed that you already assess the basic computer skills needed to use various office suite products (word processing, spreadsheet, e-mail, etc. ), or will acquire these skills independently of this course. The objective of the course is to provide a basic knowledge set that will allow you to understand the most common information systems issues that exist in todays organizations, to ask critical questions, and p articipate in IT decision making. We will write a custom essay sample on Omis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page P age 2 Organization of the Course Pedagogy This course relies on a diversity of teaching media, including lectures, readings, and case discussions.Nicolas discussions are important and quality lass participation is expected from each student. It is your responsibility to read the appropriate material before class. Unless prior arrangements have been made with the instructor, no late assignments will be accepted. Assigned Reading There is a readings package for this course that contains required articles and cases. As well we have an open source text: John Gallagher, Information Systems: A Managers Guide to Harnessing Technology, Flat World,Versions. 1, 2011. Go to this website to access the text: http:// You can read it online for free.If you pay $29 or thereabouts you can download an e-reader version or a PDF. A printed text is $40 and a color text is $60. We cover a large volume of material in this course. When preparing for class, you should review the overheads, carefully read the assigned articles and cases and try to identify what you believe are key points or issues. Always ask yourself the following question As a manager, what issues does this raise for me? Evaluation of Student Performance The course grading scheme for Masters level courses at Schulz uses a 9- value grade-point system.The possible course letter grades for a course (and the corresponding grade points awarded for each grade are: A+ 9 grade mints AAA B+ 6 B 5 BE C+ 3 C 2 CLC OF (Students are reminded that they must maintain a cumulative GAP of at least 4. 2 to remain in good standing and continue in the program, and a minimum of 4. 4 to qualify for their degree. Schulz grading guidelines mandate a section grade point average [GAP] of between 4. 7 and 6. 1 for core courses and a section GAP of between 5. 2 and 6. 2 for electives. Where instructors use numerical or percentage grades, Schulz grading policy does not require a preset translation of percentages into specific letter grades 13 Participation 20 % Individual Assignment 30 % Group Assignment 50% In class Five pages maximum, handed in at the beginning of session 4 Presentation 20%, session 6 Peer evaluation 5%, session 6 Final report 25%, No later than 1 day after final session Participation (20%) Good class participation by all class members is necessary in order to get the most out of the cases and readings.You are encouraged to take advantage of this gathering of your peers to improve your communication skills and obtain feedback on your views in a relatively low-risk environment. Attendance is not participation. Your attendance is expected for the full duration of the class. If oh miss more than two classes, you have failed the course. If you feel that you have to miss a class or any part of a class please inform the instructor before the class so that you will not be called upon in class and so that the instructor can advise you on how to keep up with the rest of the class.I expect that you will: a) Be prepared for class. B) Be on time for class. C) Keep me informed. Do not suffer in silence. Let the instructor know if you are having problems. Let it be known if you cannot attend class. With only six sessions, you do not want to miss anything. D) Come to class with a readable name card. This is important for monitoring your participation. Identify all your work completely with student number and name. Both of these actions will help the instructor to get to know you as an individual. In-class participation will be graded on quality not quantity.Timely and regular attendance, comments and questions that demonstrate knowledge of the topic and intellectual acuity can enhance your participation grade. Be respectful of others desire to participate, so be brief and relevant. Individual assignment (30%) The course includes an individual assignment, worth 30%. The total length Of he individual assignment is 5 pages maximum, including all materials, except an optional cover page, and a reference list (if required). I will provide details on this assignment in the first class. Group Assignment (50%) You will be placed into groups.Each group will be required to perform an analysis of a business problem that deals with IT issues. Details of the group assignment will be provided in session 1. The group assignment includes three deliverables: 1 . Final Report Final report (25%) each group will submit a final report due no later than 1 day following the final class session. The report will be no longer than 20 pages, including all components, except for a title page and references. The following sections are required: Executive Summary (1 page only), Introduction, Summary, and Conclusions. Other sections are up to you 14 2.Management presentation Management presentation (20%) -? each group will deliver a 10 minute presentation during the final class session. No extra time will be allowed. Maximum 10 slides. Please provide me with a copy of the presentation slides the evening before the final class session by 6 p. M. At the latest. 3. Peer valuation Peer evaluation (5%) you will be asked to evaluate the performance of your fellow group members. I will hand out a form for this in week 6. Academic Honesty Academic honesty is fundamental to the integrity of university education and degree programs.The Schulz School will investigate and will act to enforce academic honesty policies where apparent violations occur. Students should familiarize themselves with York Universitys policy on academic honesty. It is printed in full in your student handbook and can also viewed on-line on the Schulz website, clicking through as indicated: MBA/IAMB. Schulz website Programs Masters Degree Learn More Academic Policy While academic dishonesty can take many forms, there are several forms of which students should be highly aware because they are the ones that are most likely to occur in the context of a specific course. 1] Plagiarism. Plagiarism is the presentation of information, ideas, or analysis generated by other people as being your own. It includes direct quotations as well a substantive paraphrases where the course of that information or idea is not clearly identified to the reader. Students should be careful to present their written org in a way that makes it completely clear in each and every cases where a quotation, a paraphrase, or an analysis is based on the work of other people. (This includes information from all sources, including websites. ) [2] Cheating.Cheating is an attempt to gain an unfair advantage in an evaluation. Examples of such violations include (but are not limited to) consulting prohibited materials during an examination or copying from another student. [3] Failure to follow limitations on collaborative work with other students in preparing academic assignments. Each class differs in the mix of assignments and roof-versus-individual preparation that is allowed. The instructor will make clear the extent of collaboration among students that is acceptable among students on various pieces of assigned work. Students should abide by those limitations and, if they are unsure about whether a certain level or form of collaboration would be acceptable, to clarify that question with the instructor in advance. [4] Aiding and abetting. A student is guilty of violating academic honesty expectations if he/she acts in a way that enables another student to engage in academic dishonesty. If a student knows (or should reasonably expect) that an action would enable another student to cheat or plagiarism, that students action constitutes an academic honesty violation.Illustrative examples include making your exam paper easily visible to others in the same exam or providing your own working or finished documents for an individual assignment to another student (even if that other student said that he/she just wanted to get an idea of how to approach the assignment or to check whether they had done theirs correctly). [5] Use of academic work in more than one course. Generally, academic work done for every course is new org, done for that course only. If a student wishes to use some or all of the academic work done for an assigned task in one course in another course, the student must get explicit, prior permission from both instructors so that they agree that the scope and nature of the overlapping use of that work is such that it can fairly be counted toward both courses. 15 Schedule of Topics and Readings The following list of lecture topics and readings indicate the material to be read, reviewed and/or prepared for the various class sessions. If any changes in this schedule become necessary, notifications will be posted in the courseCOM, and where such changes need to be announced between class sessions, an email will be sent to students Lotus Notes email accounts, notifying them of the change. Date Topic(s) Session 1 Key question: What is an information system and why is it Feb. 27 important? IS Chi 1, Lecture: Introduction to management information systems and enterprise Chi 5 Chi technology management 10 Lecture: Technolog y fundamentals Reading: A conversation about information technology 1. In your experience, does this conversation ring true? 2. Why are many business managers frustrated with organizational IT? 3. Why are many IT managers frustrated with the business side? 4. What can be done to improve relations between the two sides? Activity: A group discussion of Open versus Closed systems models. Session 2 Key question: How can you use information systems to get the Mar 5 most out Of organizations? IS Chi 1 1 Lecture: Organizational information systems Enterprise systems Case: Business Intelligence Software at CISCO Activity: Information structures organizational effectiveness Session 3 How can you manage the balance between security and privacy, Mar 12 openness and access? IS Chi 6, Chi 12, Chi 13 Lecture: IS ethics, privacy, computer crime, and security Case: Checkpoint (A) 1 . What is your appraisal of Checkpoints business model? 2. How legitimate are the concerns voiced by the industry critics? 3. In Derek Smiths position, what internal changes, if any, would you make to address the issues discussed in the case? 4. In Derek Smiths position, what would you recommend to the U. S. Congress regarding regulation of the personal data industry? Discussion: Information security vs. privacy 6 Session 4 Key question: How can you use information systems for a Mar 19 sustainable competitive advantage?

Homework Set 10 Essays

Homework Set 10 Essays Homework Set 10 Essay Homework Set 10 Essay Sherisse’ Woodley C. Williams Macroeconomics 23 July 2013 Homework Set 10 1. List the four categories of unemployment. * Fictional * Structural * Cyclical * Seasonal 2. What measurement tool constructed by the Bureau of Labor Statistics is used to measure changes in the level of prices of goods and services? Consumer Price Index (CPI) 3. Who would benefit from unanticipated inflation –lenders or borrowers? Why? Who would benefits from anticipated inflation –lenders, borrowers, or neither? Why? Lenders will benefit from unanticipated inflation because they can rise interest and make more money.Bowers will benefit from anticipated inflation because they had time to plan. 4. If there were 1. 5 million unemployed persons in Canada with 15. 5 million employed and a population of 20 million, what would the unemployment rate equal? What would the labor force participation rate equal? 8. 82% 85% 5. In 2000, a price index for medical care in the United States increased from 254 to 265. Based on these figures, compute the rate of inflation or percentage increase in prices for this industry. How does this price change compare to that across the economy that year? 6.If the nominal interest on my mortgage is 3. 0 percent and the expected rate of inflation for next year is 0. 5 percent, what real interest rate will my mortgage lender earn? 2. 5% 7. Holding everything else constant, if the government were to decrease welfare, unemployment, and Social Security disability payments, how would this action change the labor force participation rate? How would it change the unemployment rate? What would be the immediate impact of this action on the level of income inequ ality? In the short term, would this action likely cause an increase or decrease in the urban crime rate?The labor force rate should increase. However, if there are not jobs/employment to replace the loss of benefits the rate will not increase. Unemployment rate should go down, however these individuals must be able to receive enough income to alleviate the loss of benefits and monetary resourced that were being received. Income equality will not change drastically at the onset. The individuals will still live in th same area and be receiving the same or less depending on the education level or their ability to acquire additional skill or trades.The increase in crime will go up at the onset because there will be individuals without employment and benefits to sustain their children and families. 8. Assume that at some point in your life, you will maintain several bank accounts including a checking account and a money market account. You might pay a fee of $100 each year for your bank to sweep funds to and from your checking account depending on the balances. At the same time, you might have a job that provides for an increase in your salary based on changes in the rate of inflation.In this situation, does a loss in purchasing power represent a cost of inflation? Why or why not? Do your banking fees represent a cost of inflation? Why or why not? 9. Assume that you loaned me $1,000 at a very generous nominal interest rate of 3 percent to be paid back in one year. There is a sudden upturn in the economy, however, and inflation increases to 5 percent next year. As a result, when I repay you the $1,000 plus your $30 interest, has your purchasing power increased or decreased as a result of this loan and the interest that you received? What would your real rate of return equal?Based on your answers to the previous two questions and with the benefit of hindsight, what is the lowest nominal interest that you would be willing to accept in this situation? Decreased. Willi ng to accept 4 lowest interest rate. 10. If GDP and the rate of inflation increased and the unemployment rate decreased, what phase of the business cycle would we assume the economy is in? Recession Answer Key Below are the correct answers to the mod 2 hw set for you to compare to your own: 1. The four categories of unemployment are frictional, structural, seasonal, and cyclical. . The consumer price index (CPI) is the measurement tool used to measure changes in price levels. 3. Borrowers would benefit from unanticipated inflation because the nominal interest rates for their loans would be too low to account for the actual level of inflation. As a result the real interest rate that borrowers would be forced to pay would decrease. No one would benefit from anticipated inflation because both lenders and borrowers could agree to a nominal interest rate that would account for the level of inflation. 4. The unemployment rate would be 8. % and the labor force participation rate would be 8 5%. 5. The rate of inflation in the medical industry was 4. 3% in the year 2000. In comparison, the rate of inflation across the economy was 3. 4%. 6. The real interest rate will be 3. 4%. 7. Cutbacks in these programs would cause an increase in the labor force participation rate and a decrease in the unemployment rate. However, such cutbacks would cause an increase in the level of income inequality. It is also likely that these actions would cause an increase in the crime rate. 8.In this situation, you would not incur a loss in purchasing power because your salary automatically increased as a result of inflation. The banking fees that you paid would represent a cost of inflation since you are using your resources to protect against the effects of inflation. 9. Your purchasing power would have decreased based on nominal interest of only 3. 0%. Your real rate of return would have been –2. 0%. With the benefit of hindsight you would require a nominal interest rate greater than 3. 0%. 10. We would assume that the economy is in an expansion.

Henry Tam and the MGI Team Essay Example | Topics and Well Written Essays - 1500 words

Henry Tam and the MGI Team - Essay Example Henry and Dana viewed themselves as leaders and facilitators in shaping the vision of the company but Sasha perceived them as interns and business plan writers. Confusion was also evident when Sasha introduced Dav to the team. He brought Dav to the team without consulting anyone hence this made Henry doubt his intentions and wonder if both the HBS students and Dav were used as ploys to enter the business contests. There were bigger problems in the norming stage since the team had not discussed the values and norms to be followed. At this stage, the team lacked cohesion as Henry and Dav were disagreeing with Sasha and Roman was disagreeing with the Russians. Dav and Henry also argued that the brainstorming meetings were too lengthy and ineffective while the others disagreed. The team did not divide its task (was to come up with a business plan for MGI) into subtasks hence they were not able to accomplish their goal. This is evident from the case study since they were not organized and there were no determined specific outputs from each person or meeting. The team was also divided into main group and subgroups. The main group was made up of the three founding members and the other members formed the subgroups. The members did not clearly define the roles of each group hence there was no integration between the main group and the subgroups. The team was very much disorganized since there was no team leader officially appointed to define the roles of each individual, take the responsibility of decision making and evaluate the performance of the team. There were no values and norms set by the members and they did not develop a good working culture at the beginning. This caused a lot of conflicts among them as the team members were not able to communicate effectively. First of all, the team had a product that had the potential to do very well in the market. They had an idea of what they wanted to sell.

Sustaining tourism within developing countries like the Dominican Essay - 1

Sustaining tourism within developing countries like the Dominican Republic - Essay Example ecreased long-haul travel costs, increased holiday opportunities, changed demographics and strong consumer demand for foreign travel have given rise to large tourism growth to developing countries with global visits to the developing world comprising 25% of the universal total. Tourism brings rather influential customers to Southern countries, potentially a significant market for local business and an engine for home sustainable economic growth. Between 1985 and 1995 typical gross receipts for each tourist arrival raised by 75%. Thus tourism has become a vital sector for developing countries aiming to take advantage of foreign exchange earnings, increasing employment and securing economic wealth and to protect natural and national traditions. World Travel and Tourism Council (WTTC) estimation show that travel, tourism and associated activities will add 11% to the world’s GDP, rising to 12% by 2010. The tourism industry is at present estimated to create 7.8% of the total labor force. This percentage is projected to rise to 8.6% by 2012. The tourism industry is also the world’s largest employer and make up over 255 million jobs, or 10.7% of the global workforce (WTTC, 2002). Tourism has facilitated to produce millions of jobs in developing countries. For instance official estimation for suggest China has 51.1 million jobs related to tourism and India 23.7 million jobs. In terms of the comparative significance of various sectors for job creation, the largest suppliers of jobs in travel and tourism services are found in island states and destinations - ranging from 76.3% of the total number of people engaged in Curacao, to 34.6% employed in Antigua and Barbuda. The top ten countries with greatest projected comparative increase in employment over the next couple of decades are all developing countries. Vanuatu is expected a yearly growth rate of 8.8% in employment and leads the list. The balance of benefits begins to lean toward the developed countries in terms

Should mortgage lenders be nationalised Essay Example for Free

Should mortgage lenders be nationalised Essay Following recent disturbances in the world economy some governments came to a conclusion that it is in their duty to intervene and solve the growing problem. In this case the problem of mortgage lenders. As with every action from government, it is important to assess whether there truly is a market failure or not. To begin with, a closer look at how this situation arose would be essential. Over recent years, the housing market not only in UK but around the world as well had been enjoying a period of prosperity. House prices were ridiculously high, though no one seemed to be bothered by that. Residential Mortgage Backed Securities (RMBS) played a key role in that, as this security type let a vast number of homebuyers to take loans. Investors thought that might just be a perfect opportunity to make some profit, so they also joined this house of madness by lending money to mortgagors through the banking system. However, nothing lasts forever. Investors realised that there is a risk of their money not being returned either on condition that banks and/or lenders fail, therefore they immediately left the market causing dry up of mortgage finances. So, there it is. This is where government ought to, in mortgage lenders opinion, step in, pump money and let the vicious cycle continue. Indeed, there is a market failure. A failure that only government can solve. Should it though? Isnt the true idea standing behind the capitalism to reward the hard-working, the smart and punish the lazy, the reckless? Why should the latter ones be protected? Why should tax payers money be spent in such a wasteful way? Nationalising UKs Bradford Bingley alone has already cost à ¯Ã‚ ¿Ã‚ ½150bn. In fact, only a small number of banks is to be blamed for this state of affairs to have taken place. Their irresponsible high stake risk taking actions led to a disaster that, now, they want all of us to bear the cost of. How unreasonable that must sound to a person who doesnt even have a mortgage? Weve had ten years of allowing banks to do what they wish really, to give them absolute freedom to lend. Alex Brummer, City editor, Mail on Sunday However, with nationalising it would be assured that Bank of Englands base rate is reinforced and has a real life implications, as it has been recently revealed that some mortgage providers do not cut their interest rates in line with the one set up by BoE. Moreover, it has been stated by government authorities and banks representatives on numerous occasions that improving access to capital is crucial to get the economy working again. That might actually be the case with a reduced borrower exploitation. Nationalised industries are supposed to be in the best interest of society, therefore hopefully there will no longer be banks trying to unfairly steal peoples possessions by taking a use of their lack of knowledge, charging enormous rates, making it harder for those who already find it difficult to keep up with repayments. Government would be able to offer competitive deals for everyone, and with market forces coming in, other lenders would have to follow the trend as well. It is the period of nationalising that needs to be taken into consideration, too. United Kingdom Chancellor of the Exchequer, Alistair Darling, emphasised that this process in regards of Northern Rock is only on a temporary basis, yet still it would be more realistic to count in years rather than months instead. That is how long it is expected for NR to repay the loan from taxpayers. That situation is extremely rare these days, so an accurate estimation of when the government will loosen its grip on the bank is hard to predict. Worth mentioning is the fact that it was only after 16 years of Rolls-Royce emergent nationalisation in 1971, that all its shares were sold to private owner. What would happen if the mortgage defaults continued to rise though? What if the plan would fail? And more money would be needed in attempts to solve the problem? Taxpayers would be left with a very large bill to pay for financial bailout. And this leaves us with the question how would the government fund further bailouts? Increase taxation? Cannot, this would cause a slowdown of an economy. Income tax lower income, lower consumption. Indirect taxes higher taxes, lower consumption. Doesnt sound good. Borrowing? Cannot. The so-called Golden Rule of fiscal policy is that the government should not borrow in order to finance current spending, and that any borrowing the government does undertake is for investment. I wouldnt consider rescuing awfully managed mortgage lending banks as a form of investment. I have no doubt that Mrs Thatcher would more than happily get rid of collapsing institutions. In her opinion, what doesnt work, shouldnt be allowed to work at all. Bailing banks out is a wrong idea in terms of externalities, moral hazard in particular. If they [banks] would know that there is the Government standing behind, fully prepared to save them in case of failure, they would feel more secure about themselves, with a higher willingness to take risk. They wouldnt bear all the consequences. Northern Rock and Bradford Bingley did not. Where is the capitalistic ideology of laissez-faire? Just leave it alone. Events should take their own courses, whereas government generally ought not to intervene in the marketplace. Looking at the situation in a more positive light though, financial conditions will improve in few years time, and by then the Government will be able to sell banks for much more attractive prices (e.g. Virgin trying to buy Northern Rock, but the offer was too low in Governments opinion) in order to compensate and benefit taxpayers. Still, I am not really convinced with the view of governments nationalising mortgage lenders. As a free market economy supporter, I strongly believe that the market should be free of any governments intervention nor regulation, besides the minimum function of maintaining the legal system and protecting property rights. To finalise, I would like to quote a man, whose words cannot summarise my essay better, The nationalisation of Northern Rock is a disaster for the taxpayer, a disaster for this government and a disaster for our country.