Labor Unions And Its Effect On Income Inequality - 912 Words

LABOR UNIONS With many laws enacted to tarnish their effectiveness in the appearance of a better functioning economy, labor unions appear to have an unmistakable effect on income inequality. Western and Rosenfeld explain the power of the labor union and how important of a role it holds for its workers. Western and Rosenfeld analyzes the contributions that unions made and the consequences of their decline coupled with the rise in unfair wage distribution. Kristal supports that the lack of bargaining ability hinders the effectiveness that unions used to have and this event is the result of computer technology damaging the laborers ability to appear useful and necessary in the eyes of the capitalists. Union Influence While government policies are a part of Volscho and Kelly’s research, they recognize that other factors affect income inequality. Strong labor unions are capable of reducing income inequality that is brought on by the decisions made in the market. The stronger a union is, the more bargaining power they possess so that they are able to fight for better pay and a more equal distribution of income. Western and Rosenfeld agree with this statement as their research pertains more on labor unions and their relationship with income inequality. During the 1970’s, labor unions were at their strongest, with as many as one in three people working in a union. From the 1980’s to currently, not only has labor union membership decreased to single digits, but wage inequality hasShow MoreRelatedMovements for Social Change in an Integrated Global Economy Essay examples902 Words   |  4 PagesIncome inequality between the rich and the poor continues to be a significant concern in the United States, prompting national headlines and serious political debate regarding governmental policy. Historically, economies based on capitalism tend to have a pro-business stance, implementing pro-business policies to spur economic growth (Zinn, 2010). The typical role of the labor union has been to help improve economic equality between workers and the companies that employ them; however, unions haveRead MoreNon Regular Workers : A Growing Reliance On Irregular Workers1381 Words   |  6 PagesThere has been a growing reliance on irregular workers who differ in the contractual relationship with regular employers. After the 1997 financial crisis in Korea, the economy experienced an increase in inequality among workers and contributed to a two-tier labor market. Regular workers employed in the public sector or large firms have traditionally been seen to be provided lifetime employments, protection against dismissals, severance pays and given access to a wide range of socia l insurance programsRead MoreThe Role Of Unions And Their Importance Has Changed Over The Years1527 Words   |  7 PagesThe role of unions and their importance has changed over the years. A mixture of poor wages, high unemployment, non-existent benefits and insignificant professional stability amongst the more youthful era makes a ready demographic for restoration. The younger era is the slightest unionized section of our general public today by a long shot. Unions are important in today’s society because checks and balances are necessary entities in business and government, so if CEOs are just focusing on themselvesRead MoreEssay about Marxs Theory of Alienation1087 Words   |  5 Pagestakes place because the worker can only express this basic social aspect of individuality through a production system that is not communally, but privately owned (Marx, 2007). When applying Marx’s theory of alienation to the current issue of income inequality in the global world one can see how it is possible that capitalism has led to the issues at hand. Although not a new phenomenon, globalization is on the rise, and with that, the concentration of authority among few multinationals. By the earlyRead MoreInternational Trade And Gender Wage Inequality1426 Words   |  6 Pagesand Gender Wage Inequality Motivation for the Research: In recent years, globalization and international trade has become a significant issue for countries. Consumers tend to use more goods and services and due to the lack of resources, the need to trade with other countries seems to be inevitable. Assuming that globalization would occur, labor factors become noteworthy. Although growth in international trade provide more job opportunities for people, there are still inequality in wage between maleRead MoreUrban Migration During The Industrialization1708 Words   |  7 Pagesbeginning of industrialization. In both England and China, one of the factors for urban migration was the job opportunities that were being created in the urban factories that kept sprouting up from to high demand. Due to the stability and higher income in factories, rural residents found it more promising to seek employment in the urban areas instead of working in a farm or at home. They also believed that there would be more opportuniti es for their own development in the cities. IndustrializationRead MoreNeoliberalism : A New Economic System1169 Words   |  5 Pageseconomic competition and innovation, but it causes unemployment in U.S as a result of cheaper labor overseas. Therefore, Neoliberal policies of the last four decades impacted U.S labor, finance, immigration, inequality, democracy, and race positively and negatively because there are gains and losses associated with neoliberal ideologies such as free trade and reduced government regulation. Labor was affected negatively because NAFTA gave U.S corporations incentives to build factories inRead MoreThe Labor Of Organized Labor During The 21st Century907 Words   |  4 Pages According to The Future of Organized Labor in the U.S. an important debate has commenced within the ranks of organized labor regarding the future of the movement. The economic and political changes that have taken place in the United States nationally, over the last thirty years as well as globally, have been a result of hostile environments for labor unions more so for workers in general not just women workers. For organized labor in the USA, the path away from oblivion must begin with theRead MoreInequality : Inequality And Poverty1729 Words   |  7 Pages Inequality and poverty exist in our society because wealth and opportunity are inherited. If we all entered the world with an equal amount of resources, some would still rise above others but everyone would get the same chance to succeed in life. Since greed is one of the norms of our society, and wealth is passed from generation to generation, there will always be inequality and poverty. The system of wealth and inequality is actually pretty simple. It all boils down to a few things what youRead MoreThe Inequality Of The United States1495 Words   |  6 PagesUnited States is currently experiencing increased income inequality and a large gap between rich and poor that continues to grow. After the Wall Street meltdown in 2008 and the recession that followed, economic recovery has been extremely slow and the inequality of America’s income distribution seems to be intensifying. Since the recession, the top one percent of earners in the US has experienced notably higher percen tages of income growth, while the incomes of the middle class have become frozen with

Diary of a Homeless Girl - 1253 Words

Dear Diary Today was exhausting. I had a very tough day at work. I dont think i deserve this kind of treatment. The girls and i have worked so hard and only get paid twenty two and six pence. So we had to ask for a raise in money and better working conditions. As a result to us going on strike, i got sacked out of the Birling and Co. I thought if we reacted this way, Mr. Birling will have the heart to understand what we are going through. I was wrong. He was a self-centred, greedy man. All he really cared about is his name and money. Money was his first priority which means that no man what so ever mattered to him. It was himself before anything else. Dear Diary After leaving, i had no where to go. I dont have a family nor a home to stay in. I had no choice other than staying at my friends basement for months. How could he do this to me? Knowing that it is almost impossible to get a job in this town. The condition i was in was horrible, i never felt so lonely and deseprate in my life. I knew i had to find me a new job. I am running out of the money i saved from work to pay my friend for rent. It was never my plan to get sacked out of Birling. I thought standing for my self would make a difference. I thought wrong†¦ i regret it so much. If i had the chance to take it all back, i would. Dear Diary I feel lost, hopeless, tired and hungry. No relatives, No family; i miss having someone that cares about me. I know for a fact that if they were here with me, they wouldShow MoreRelatedSurviving the Holocaust: Comparison and Contrast of Anne Frank and Gerta Klein761 Words   |  4 Pages Survival is living on the hope that better things are yet to come in your life. Right now in our country people survive because of hope and the belief that people are good and they will help them out. People survive when they are homeless on the streets only because of the people who are good at heart and give them food or money to buy clothing for the winter. Gerta survived because of her family and friends. Anne Frank survived because she believed that â€Å"Despite all the evil going on in theRead More The Diary of Anne Frank Book Review Essay1385 Words   |  6 PagesThe Diary of Anne Frank Book Review On June 12, 1929, at 7:30 AM, a baby girl was born in Frankfort, Germany. No one realized that this infant, who was Jewish, was destined to become one of the worlds most famous victims of World War II. Her name was Anne Frank. Anne Frank: The Diary of a Young Girl, by Anne Frank and B.M. Mooyaart, was actually the real diary of Anne Frank. Anne was a girl who lived with her family during the time while the Nazis took power over Germany. BecauseRead MoreEssay on My Desire for Writing1405 Words   |  6 Pagesbasics, it shaped and paved the way for future writing pieces. I have always been the youngest and only girl in a family with three children. I was basically a spoiled brat who got whatever I wanted. I always kept a diary to record my feelings. Whenever I got mad at my parents or siblings, or things didn’t go my way, I would go to my room and write about how I felt in my diary. I always felt better once I had my feelings down on paper. Writing was my way of dealing with growing up andRead MoreHolocaust : Jews Crossing The Bridge1207 Words   |  5 Pagesfuture while working for a shoemaker, while the young girl has realized that she has been left alone to fend for herself, in a time when tensions were high. Both poems are significant in the respect that they portray the raw emotion of children, forced into the ghetto by the Nazis. While it appears Avraham has some hope for the future, and looked forward to being happy again someday, as he states â€Å"when I grow up,† it seems as though the young girl was aware of her fate, and had lost hope for a happyRead MoreThe Absolutely True Diary of a Part-Time Indian Essay1131 Words   |  5 Pagesare faced with many developmental milestones. Physical, cognitive, social and emotional changes are occurring during this tumultuous stage of life, and making sense of one’s self and identity becomes a priority. Sherman Alexie’s The Absolutely True Diary of a Part-Time Indian addresses the challenges of adolescence in an engaging tale, but deals with minority communities and cultures as well. Establishing an identity has been called one of the most important milestones of adolescent development (RuffinRead MoreThe British Faced the Blitz with Courage and Unity is a Myth Essay1321 Words   |  6 Pageswar, which tells us there are no facts about the blitz and is only for memories. This means we cant trust this source to tell us about the Blitz. Source B is a picture taken at the time of the blitz dated 21 January 1943, catford girls school was hit and children were killed. I can infer that many other buildings were destroyed. This shows 3 ARP wardens showing bravery by picking up dead bodies of young children in a bombed area. I can infer that the government didntRead MoreQuotes On Anne Frank771 Words   |  4 Pageswere in the Holocaust?It may seem like a terrible situation, but one girl ,Anne Frank, seemed to always find the good in people. The last words in her diary were â€Å"In spite of everything, I still believe people are really good at heart.† These last famous words of Anne Frank let the world know that know matter what happens ,there is always good in people. Anne’s family faced many problems and fears in the annex. From, the diary, Anne left ,I agree with Anne’ quote. I am siding with Anne because MrRead MoreHealth Care For Social Justice879 Words   |  4 Pages As the society acknowledges the importance of human rights and dignity, the issues among the poverty, homeless, violence victims are now more considered. Although there are difference in roles between nurses from acute care, intensive care, and emergency settings nurses, community nurses engage those issues to become advocates for social justice. Health care nurses collaborate to identify strategies for incorporating social justice aims into their work environment (Johnstone, 2011). As a publicRead MoreMalala Yousafzai Speech853 Words   |  4 Pageseasily back down to the majority, get lost in the crowd, and lose their sense of individuality. If by chance they have a voice, most are too scared or self-conscious to speak out against the popular idea and fight for what is right. When a teenage girl breaks free from the crowd and displays bravery while faced with adversity, in cases which most adults would not be able to handle, her actions are noteworthy. This teenager, Malala Yousa fzai, deserves to have our High School renamed in her honor forRead MoreWhat Is Life? What Does It Mean?769 Words   |  4 PagesConan Doyle, big company CEOs... Charlie: What about those people, the minority, that didn t make the cut, the forgotten, the unannounced? Olivia: Bob from the grocery store, the homeless war veteran that sits outside that run down gas station, Anne Frank would ve been forgotten if she didn t have her diary or if Miep Gies hadn t picked it up, being another soul in the Holocaust, Charlie: Thomas Edison, Abraham Lincoln, Martin Van Buren, Lewis, and Clark.... Olivia: But how about

Dr Faustus as a Tragedy Essay Sample free essay sample

Aristotle defines a calamity as a ‘representation of an action which is of import. complete and limited in length. It is enacted non recited and by eliciting commiseration and fright. it gives an mercantile establishment to emotions of this type. ’ However. for the Elizabethans. more specifically for Marlowe and Shakespeare. calamity is non a restrictive position of human excellence or failing as the Greeks are frequently inclined to show but an affirmatory position of human aspirations whose chase brings a glorification to the definition of a adult male. Struggle. struggle. agony and failure may be the ineluctable attenders but the human spirit is non stifled in its chases by what attends to them. The ability to defy them is the tragic glorification of adult male. Marlowe’s calamity. therefore. is in fact the calamity of one adult male – the rise. autumn and decease of the tragic hero. His heroes are titanic characters afire with some never-say-die passion or excessive aspiration flinging all moral codifications and ethical rules and immersing headlong to accomplish their terminal. Such intense passion and remorseless battle with super-human energy to accomplish earthly addition and glorification make Marlowe’s heroes great so and adds to the reflecting glorification and magnificence to their personalities. Doctor Faustus’ Tragic FlawDoctor Faustus has elements of both Christian morality and classical calamity. On the one manus. it takes topographic point in an explicitly Christian universe: God sits on high. as the justice of the universe. and every psyche goes either to hell or to heaven. There are Satans and angels. with the Satans alluring people into wickedness and the angels pressing them to stay true to God. Faustus’s narrative is a calamity in Christian footings. because he gives in to enticement and is damned to hell. Faustus’s chief wickedness. tragic defect harmonizing to Aristotle. is his great pride and aspiration. which can be contrasted with the Christian virtuousness of humbleness ; by allowing these traits rule his life. Faustus allows his psyche to be claimed by Lucifer. Christian cosmology’s prince of Satans. And therefore – ‘A greater capable fitteth Faustus’s humor. ’ Faustus’ psyche is afire with intempe rate aspiration and with a fad for ace human powers and supreme animal pleasance of life. Divinity adios: These metaphysics of prestidigitators. And necromantic books are heavenly: The Strength of theTragedyThe drama is a human calamity for non merely is Faustus tragically constituted in his boundless aspirations but. at the same clip. the drama inquiries the effectivity of the cultural aspirations that form his aspirations. Consequently. the drama provides a complex interaction between the human dimensions of the dramatic character and the ambiguities and ambivalencies of the cultural state of affairs the character is placed in. Yet while the drama seems to offer a really basic Christian message—that one should avoid enticement and wickedness. and repent if one can non avoid enticement and sin—its decision can be interpreted as rolling from Orthodox Christianity in order to conform to the construction of calamity. In a traditional tragic drama. as pioneered by the Greeks and imitated by William Shakespeare. a hero is brought low by an mistake or series of mistakes and recognize his or her error merely when it is excessively late. In Christianity. though. every bit long as a individual is alive. there is ever the possibility of repentance—so if a tragic hero realizes his or her error. he or she may still be saved even at the last minute. But though Faustus. in the concluding. twisting scene. comes to his senses and begs for a opportunity to atone. it is excessively late. and he is carried off to hell. Marlowe rejects the Christian thought that it is neer excessively late to atone in order to increase the dramatic power of his coda. in which Faustus is witting of his damnation and yet. tragically. can make nil about it. Faustus’ TragedyAct I establishes Faustus’ calamity. The egoistic self-temptation of Act I gives manner to an agonizing struggle between the sacredly constituted ego and the aberrances of its human urges of Act II: Now. Faustus. must Thou needs be damn’d and canst 1000 non be sav’d. Faustus’ province of head transcends his mental frame and is. perchance. rooted in his peculiar spiritual persuasion. As desperation leads to the self-indulgent belief that godly Providence every bit good as the godly wrath can non make him. Faustus marks the treaty with the Satan giving away his psyche in return for his services. As Faustus reaches his rebellious or tragic decease in Act V. the nature of his decease and the attendant torture bespeaks a brilliant calamity But Faustus’ offense can ne’er be pardoned:The snake that tempted Eve may be saved.But non Faustus The tragic struggle does non slake till the terminal. Faustus seeks an surrogate Eden through the diabolic Helen: Come. Helen. come. give me my psyche once more. Therefore the chief cause of the calamity of Doctor Faustus is ‘aspiring pride and insolence’ for which the Lucifer of Milton besides fell. His excessive aspiration and proud given leads him to perpetrate the wickedness of rehearsing more than heaven licenses. And that is why Faustus abjures God and the Devil taking to his ageless damnation.

The Hitman with my Girl Anachronism Essay Example For Students

The Hitman with my Girl Anachronism Essay In this essay I will be comparing my first scripted piece The Hitman with my Girl Anachronism play. I will be comparing the deference between the character I was, the style of the play, the mood and the place  Also I will be comparing weather it is Brecht or Stanislavski. Brecht belied in breaking the fourth wall and trying to make the play as unrealistic as possible by using flash backs, monologues, freeze frames, placards ect. But on the other hand Stanislavski belied in making the play as realistic as possible by having every thing in chronological order and making it as naturalistic as possible making the actors think like their character would, also Stanislavski believed in the 4th wall, the fourth wall was used to make the play seem more realistic by acting as if the audience was not there. We use this technique allot to make plays more realistic. We will write a custom essay on The Hitman with my Girl Anachronism specifically for you for only $16.38 $13.9/page Order now The play The Hitman was based by the script written by JCW Brook in 1990. It has an angry, comical and frustrated mood throughout, it is in the style of Stanislavski because I think it uses the 4th wall to create a more realistic look because flashbacks, freeze-frames, placards and monologues are not used. In the play we played the godfather theme tune because it was classical music to show that we were an older couple and because it had a mysterious ring to it showing the audience that some thing was coming in the up later on in the play. In this play I have adopted the role of George a man in his 50s or 60s who is married to a posh woman and he as had enough of her and wants her dead, He hires a Hitman to do so. But on the other hand the play Girl Anachronism was developed to the stimulus of the song girl anachronism by the Dresden Dolls. It has a very angry and upset mood throughout, it is in the style of a melodrama and it is like a Brecht play because it breaks the fourth wall, using monologues and flash backs which are theatrical devices used in Verfemdungseffect to remind the audience that it is not real. In the play we used a variety of music to show the emotions of each scene for example at the beginning of our play we played the stimulus of the play, and before our flash back we played past music to show that we had gone back in time. In this play I have adopted the main role where I am crazy teenager that has just been released from a mental institute and have just gone back to my 3 bedroom house with my family which all hate me, and I am also suicidal. All I want is to be left alone and not too be told what to do.  These plays are totally different one is a Stanislavski like play the other is a Brecht. One is unrealistic the other is realistic. The have totally different styles. The lighting and sound have no resemblance because two different moods were trying to be created and it is the sound and lighting which create the mood of a play. Also in the girl anachronism we were only allowed to blocks to work with a and a limited amount of props buy in The Hitman we could use tables chairs and however many props were needed for the script.  I enjoyed both of the plays but Hitman was more of a comical interesting play to work on.

Memory Retrieval essays

Memory Retrieval essays Some of the most intriguing information we have covered in lecture has involved memory retrieval. I always enjoy finding out that others share the same questions or concerns about any topic, it lends a feeling of validation. I have often wondered why I would repeat a task after just having completed it, or why I would draw a blank when the information should be readily available. I think its almost surprising how much memory is valued in many situations, yet it is known that people have tendencies to distort their memories (Sternberg, 2003). As described in the text, eyewitness testimony is the most serious example of societys reliance on individuals memories. Eyewitness testimony is similar to everyday retelling of stories of events to others. I think people can take notice of when they are losing details of the memory of an incident. For example, the more you tell the story of the car crash you saw today on the freeway, the shorter the story will become, focusing mainly on the action, less on situational details. The next couple of days when you are remembering the accident in your head, you realize you now arent sure exactly where on the road it was, what color the one car was, and whether you had the radio on or not. You recognize that you have lost some details, but you feel confident in your memory because you still can recall the crash itself. The idea of misattribution is very interesting here. It seems as if this is the next memory distortion that occurs after transience. Whereas people are aware of transience for the most part, misattribution seems to be more unconscious. It is in the retelling of the memory that we put the memory into understandable (for others) context. In order to give a full and accurate description of the memory, you give the setting, scene, or situation in which it took place. It seems as if the act of relating a memory to another individual requires cert ...

Profile of Serial Killer Rodney Alcala

Profile of Serial Killer Rodney Alcala Rodney Alcala is a convicted rapist, torturer, and serial killer who evaded justice for 40 years. Dubbed the Dating Game Killer Alcala was once a contestant on the show, The Dating Game, where he won a date with another contestant. However, the date never happened because the woman found him to be too creepy. Alcalas Childhood Years Rodney Alcala was born on August 23, 1943, in San Antonio, Texas to Raoul Alcala Buquor and Anna Maria Gutierrez. His father left, leaving Anna Maria to raise Alcala and his sisters alone. At around the age of 12, Anna Maria moved the family to Los Angeles. At the age of 17, Alcala joined the Army and remained there until 1964 when he received a medical discharge after being diagnosed with a severe anti-social personality. Alcala, now out of the Army, enrolled in UCLA School of Fine Arts where is earned his Bachelor of Fine Arts degree in 1968. This is the same year that he kidnapped, raped, beat, and tried to kill his first known victim. Tali Shapiro Tali Shapiro was an 8-year-old on her way to school when she was lured into Alcalas car, an act that did not go unnoticed by a nearby motorist who followed the two and contacted police. Alcala took Tali into his apartment where he raped, beat, and attempted to strangle her with a 10-pound metal bar. When police arrived, they kicked in the door and found Tali laying on the kitchen floor in a large puddle of blood and not breathing. Because of the brutality of the beating, they thought she was dead and begin to search for Alcala in the apartment. A police officer, returning to the kitchen, saw Tali struggling to breathe. All attention went to trying to keep her alive, and at some point, Alcala managed to slip out the back door. When searching Alcalas apartment, the police found several pictures, many of young girls. They also found out his name and that he had attended UCLA. But it took several months before they would find Alcala. On the Run but Not Hiding Alcala, now using the name John Berger, fled to New York and enrolled in NYU film school. From 1968 to 1971, even though he was listed on the FBIs most wanted list, he lived undetected and in full view. Playing the role of a groovy film student, amateur photographer, single hot shot, Alcala moved around New Yorks single clubs. During the summer months, he worked at an all girls summer drama camp in New Hampshire. In 1971, two girls attending the camp recognized Alcala on a wanted poster at the post office. The police were notified, and Alcala was arrested. Indeterminate Sentencing In August 1971, Alcala was returned to Los Angeles, but the prosecutors case had a major flaw - Tali Shapiros family had returned to Mexico soon after Tali recovered from the attack. Without their main witness, the decision was made to offer Alcala a plea deal. Alcala, charged with rape, kidnapping, assault, and attempted murder, accepted a deal to plead guilty to child molestation. The other charges were dropped. He was sentenced to one year to life and was paroled after 34 months under the indeterminate sentencing program. The program allowed a parole board, not a judge, to decide on when offenders could be released based on if they appeared rehabilitated. With Alcalas ability to charm, he was back out on the streets in less than three years. Within eight weeks he returned to prison for violating his parole for providing marijuana to a 13-year-old girl. She told police that Alcala kidnapped her, but he was not charged. Alcala spent another two years behind bars and was released in 1977, again under the indeterminate sentencing program. He returned to Los Angeles and got a job as a typesetter for the Los Angeles Times. More Victims It did not take long for Alcala to get back into his murderous rampage. The Murder of Jill Barcomb, Los Angeles County In November 1977, Alcala raped, sodomized, and murdered 18-year-old Jill Barcomb, a New York native who had recently moved to California. Alcala used a large rock to smash in her face and strangle her to death by tying her belt and pant leg around her neck.Alcala then left her body in a mountainous area in the foothills near Hollywood, where she was discovered Nov. 10, 1977, posed on her knees with her face in the dirt.Murder of Georgia Wixted, Los Angeles County In December 1977, Alcala raped, sodomized, and murdered 27-year-old nurse Georgia Wixted. Alcala used a hammer to sexually abuse Georgia, then used the claw end of the hammer to beat and smash in her head. He strangled her to death using a nylon stocking and left her body posed in her Malibu apartment. Her body was discovered Dec. 16, 1977.Murder of Charlotte Lamb, Los Angeles County In June 1979, Alcala raped, beat, and murdered 33-year-old legal secretary Charlotte Lamb. Alcal a strangled Charlotte to death using a shoelace from her shoe and left her body posed in a laundry room of an El Segundo apartment complex where it was discovered on June 24, 1979. Murder of Jill Parenteau, Los Angeles County In June 1979, Alcala raped and murdered 21-year-old Jill Parenteau in her Burbank apartment. He strangled Jill to death using a cord or nylon. Alcalas blood was collected from the scene after he cut himself crawling through a window. Based on a semi-rare blood match, Alcala was linked to the murder. He was charged with murdering Parenteau, but the case was later dismissed.Murder of Robin Samsoe, Orange County On June 20, 1979, Alcala approached 12-year-old Robin Samsoe and her friend Bridget Wilvert at Huntington Beach and asked them to pose for pictures. After posing for a series of photographs, a neighbor intervened and asked if everything was alright and Samsoe took off. Later Robin got on a bike and headed to an afternoon dance class. Alcala kidnapped and murdered Samsoe and dumped her body near the Sierra Madre in the foothills of the San Gabriel Mountains. Her body was scavenged by animals, and her skeletal remains were discovered on July 2, 1979. Her front teeth had been knocked out by Alcala. Arrested After the Samsoe murder, Alcala rented a storage locker in Seattle, where police found hundreds of photos of young women and girls and a bag of personal items that they suspected belonged to Alcalas victims. A pair of earrings found in the bag were identified by Samsoes mother as being a pair she owned. Alcala was also identified by several people as the photographer from the beach on the day Samsoe was kidnapped. Following an investigation, Alcala was charged, tried, and convicted for Samsoes murder in 1980. He was sentenced to receive the death penalty. The conviction was later overturned by the California Supreme Court. Alcala was again tried and convicted of the murder of Samsoe in 1986 and was again sentenced to the death penalty. The second conviction was overturned by the 9th Circuit Court of Appeals. Three Times a Charm While awaiting his third trial for the murder of Samsoe, DNA collected from the murder scenes of Barcomb, Wixted, and Lamb was linked to Alcala. He was charged with the four Los Angeles murders, including Parenteau. At the third trial, Alcala represented himself as his defense attorney and argued that he was at Knotts Berry Farm on the afternoon that Samsoe was murdered. Alcala did not contest the charges that he committed the murders of the four Los Angeles victims but rather focused on the Samsoe charges. At one point he took the stand and questioned himself in third-person, changing his tone depending on if he was acting as his lawyer or as himself. On Feb. 25, 2010, the jury found Alcala guilty of all five counts of capital murder, one count of kidnapping and four counts of rape. During the penalty phase, Alcala attempted to sway the jury away from the death penalty by playing the song Alices Restaurant by Arlo Guthrie, which includes the lyrics, I mean, I wanna, I wanna kill. Kill. I wanna, I wanna see, I wanna see blood and gore and guts and veins in my teeth. Eat dead burnt bodies. I mean kill, Kill, KILL, KILL. His strategy did not work, and the jury quickly recommended the death penalty to which the judge agreed. More Victims? Immediately after Alcalas conviction, the Huntington Police released 120 of Alcalas photos to the public. Suspecting that Alcala had more victims, the police asked for the publics help in identifying the women and children in the photos. Since then several of the unknown faces have been identified. New York Murders Two murder cases in New York have also been linked through DNA to Alcala. TWA flight attendant Cornelia Michael Crilley, was murdered in 1971 while Alcala was enrolled at NYU. Ciros Nightclub heiress Ellen Jane Hover was murdered in 1977 during the time that Alcala had received permission from his parole officer to go to New York to visit family. Currently, Alcala is on death row at San Quentin State Prison. Sources Orange County District Attorney48 Hours Mystery: Rodney Alcalas Killing Game

Research and Analysis Paper Example | Topics and Well Written Essays - 1500 words

And Analysis - Research Paper Example The subsidiaries of the company are usually consolidated from the acquisition date to the date that the company stops controlling the subsidiary (Gulf times.com). The accounts for the subsidiaries are prepared at the same time as that of the mother company. The accounting policies used are consistent. The group usually eliminates all its balances, losses, gains, and transactions that arise from intra group transactions. The dividends are also fully eliminated. The losses that are found in a subsidiary are usually attributable to the non controlling interest of the company even if the results may lead to a deficit balance. If there occur a change in ownership of the subsidiary without any losses, the transaction is recorded as an equity transaction. When Mannai corp. losses a subsidiary, it derecognizes its liabilities and assets that were attributable to the subsidiary. It also derecognizes the non controlling interest that was associated with the subsidiary. The translational differ ences that were recorded in equity are also derecognized. At the same time, it recognizes fair value of the consideration that it receives, fair value that is attributable to investments received and recognizes profits or losses that are associated with the subsidiary loss. The company then reclassifies its share of components in other income generating avenues. Acquisition policy The company celebrated its 60th anniversary in 2010 and it was named as the largest service and trading company in Qatar (mannai.com) The company refocused its business in 2001 by divesting its interest that were overseas and reducing the dependence on cyclical activities. The company achieved its restructuring goal in 2004 when the company was able to attain the capacity of delivering sustainable earnings for its shareholders. The company became a public company in 2007. In 2011, the company acquired 35% controlling interest in Axiom Company. In the year 2012, mannai corp. and EFG Hermes acquired majority stake in DAMAS Ltd. Motivation for Acquisitions Although it is not directly mentioned in the consolidated statements, from the analysis, the company has motivation for acquisitions for many reasons. First, to enhance the ability of the Group to continue as a going concern based on the fact that this can only happen if the Group has enough resources to continue operating or doing business for the foreseeable future. This is evident in the way the consolidated financial statements of the group continue to be made on a basis of going concern. Second, acquisitions help the group in minimize liquidity risk. The Group has been engaged in acquisitions with the main intention of having or consolidating adequate liquidity to help meet its liabilities, under both stressed and normal conditions, without registering unacceptable risking damage or losses to the Group reputation and operations. Thirdly, since the group depends on financing from shareholders and banks loans, the acquisitions serv es to strengthen the security or collateral base for securing loans from banks. In fact, one of the risks of the group is credit risk where financial liabilities accrue as a result of banks loans or overdrafts (pp. 34). Fourthly, its motivation for acquisition is to increase market share or simply reduce competition. This is because, apart from Axiom Limited which is engaged in import, wholesale and retail sale of various mobile phones brands as well as related

Mellor, Augustus and the Creation of the Empire Essay

Mellor, Augustus and the Creation of the Empire - Essay Example He emphasized on being given the right of military command ensuring the state suffered no harm, driving the murderers of his father into exile and defeating them twice in war, undertaking civil and foreign wars by land and sea throughout the whole world but spared lives of citizens who sought pardon, he was honored twice with ovations and saluted twenty one times as an imperator. Augustus took charge of grain supply at his own financial expense during the great famine, all citizens offered sacrifices for his health at all the seats of the gods with the Roman people calling him the father of the country, his continued preaching about friendly relationships, his presentation of three gladiatorial games in his own and five in the name of his sons. Augustus also established colonies of soldiers in Africa, Sicily, Asia, Syria and Macedonia etc, which had been seized in slave war and by defeating his enemies in Spain, Gaul and from

Serpent Gods in Aztec Mythology Essay Example for Free

Serpent Gods in Aztec Mythology Essay Aztecs had a pantheon of Serpent Gods to which they attributed the creation and workings of the natural world. One of their principle gods, Quetzalcoatl, translated as feathered serpent, had many manifestations, each holding an important role part of the Aztec myths of creation and the workings of the natural world. As Braden points out the main of the many roles designated to Quetzalcoatl is that he along with his brother Huitzilopochtli took the task of creation of humanity besides the creation of life, including gods, environments and all living substances (1930, p. 120). He accomplished this task by splashing his blood on the bones and ashes of previous human beings that had existed in a previous age. Out of this auto-sacrifice of blood sprang a male and then a female child, the forbearers of all modern people. Brundage goes on to say that thus Quetzalcoatl is not only a god to be worshiped out of reverence for his powers over nature but as a father figure as well. The Aztecs saw him as a god who was benevolent and the reason for their existence (1979, p.106). Another manifestation of Quetzalcoatl is that of the wind. The Aztec name for a tornado or thunderstorm wind was ehecacoatl or roughly translated wind snake . The wind that blows before the storm is traditionally associated with complex deity. The wind is a powerful force of nature and it is easy to see how a society could attribute the characteristics of a snake to the wind. The wind swirls and moves with effortless grace, just as a snake glides along the ground. Brundage goes on to say that this shows the ease with which the Aztec mind accepted the reptilian nature of the wind (1979, p.106-107). However the most common account presents Quetzalcoatl in human form and as a holy priest who comes down from his heavenly abode to give the Aztec people a new religion. Brundage points out that he tries to make the Aztecs rituals more of a personal spiritual event. Before his arrival the legend says that the Aztecs sacrificed hundreds of humans to the various gods. In the form of the high priest Quetzalcoatl’s goal is to make Aztec ritual more simplistic and auto-sacrificial. He stresses auto-sacrifice and the sacrifice of snakes, butterflies, birds, etc. (1979, p.116). He is more concerned with the sanctity of human life. It is his opinion that if human blood is to be sacrificed it should be give directly by the person making the sacrifice. This legend ties in nicely with the creator myth. In his role as creator of the human race he sacrificed his own blood, now he is telling the people that by sacrificing their own blood it is a more precious offering that killing another person. He is seen as a divinity that is concerned for the lives of his people. Outline: 1) The main of the many roles designated to Quetzalcoatl, the principle serpent god in Aztec mythology. (Braden, 1930, p.120) A- Quetzalcoatl along with his brother Huitzilopochtli took the task of creation of humanity. 2) Another manifestation of Quetzalcoatl, which is the wind symbol connected to the characteristics of snake in nature. (Brundage, 1979, p.106- 107) A- How a society could attribute the characteristics of a snake to the wind. 3) Most common account that presents Quetzalcoatl in human form and as a holy priest. (Brundage, 1979, p.116) A- He tries to make the Aztecs rituals more of a personal spiritual event. B- He is more concerned with the sanctity of human life. References: Braden, Charles S. Religious Aspects of the Conquest of Mexico. Duke University Press. Duhram, NC: 1930. Brundage, Burr Cartwright. The Fifth Sun. University of Texas Press. Austin TX: 1979.

With reference to Dulce et Decorum Est and Anthem for Doomed Youth by E

With reference to Dulce et Decorum Est and Anthem for Doomed Youth by Wilfred Owen, examine how Wilfred Owen responded to the jingoistic poetryof Jessie Pope. " Who's for the game? The biggest that's played" ================================================ The above quotation is from Jessie Pope's "who's for the game." Wilfred Owen was born in Shropshire on the 18th of March 1893. Owen volunteered for the army in 1914 when the First World War broke out. After training he became an officer and was sent to France at the end of 1916. The following year, Owen took part in the attacks on the German Hindenburg line, where he was suffering from shell shock after a shell burst near him. The horrors of battle quickly transformed Owen and the way he thought about life. The reasons behind Wilfred Owen's poems were to indoctrinate the people of those times. "Dulce et Decorum Est" was to enable Owen to show the true meanings of war and to over right the untruthful poem of Jessie Pope and her propaganda technics. ====================================================================== Jessie Pope's poem " Who's For The Game?" ========================================= There are sporting references such as "Who'll toe the line," "Who'll grip and tackle the job unafraid." Also there are parts of the poem that incur guilt upon the men who hadn't enlisted. "Who wants a turn to himself in the show," "And who wants a seat in the stand?" and "Who thinks he'd rather sit tight?" this technique makes the reader feel responsible and pushes them to join up and be a part of 'the game'. The rhythm of the poem gives an impression of a rhyme, like something you could sing to, this is a strange way to write about the solemn ... ...arison is that of dusk, to the drawing down of blinds in a house in mourning. "And each slow dusk a drawing down of blinds," creating the image that dusk is like a blind that is being lowered. The funeral is over and rhetorical question that Owen asked at the beginning of the first stanza has been answered and the noise has vanished. All is now quiet. The long, heav 'd' sounds really drag the ending on and draw the poem to a deliberate close. In conclusion, I feel that both poets are effective, but they both present such different pictures of war. Owen's poems are excellent examples of poetry portraying the realism of war, whereas Pope's poem is an excellent example of the unfortunate attitude cultivated on the home front. The contrast between the two allows the reader to see the reality of the First World War from two immensely different perspectives.

Foreign exchange risk Essay

Toyota Motor Corporation is the world’s third largest automaker. It was established in Japan on 28 August 1937. Apart from its 12 plants in Japan, Toyota has 54 manufacturing companies in 27 countries, employs 246700 people and markets vehicles in more than 160 countries. Its capital as at March 2002 was 397 billion yen. Toyota is exposed to the fluctuation in foreign currency exchange as it operates mainly in America, Continental Europe and Britain. It is therefore affected by the fluctuation in the value of the US dollar, the Euro and to a lesser extent the British pound. Toyota’s consolidated financial statements, which are presented in the Japanese yen, are affected by the foreign exchange fluctuation, as all the amounts in the various countries’ currencies have to be translated into yen. Toyota’s primary markets based on unit sales for vehicles for financial year ended March 31 2002 were Japan (40%), North America (32%) and Europe (13%). Toyota is listed on the London, New York and Tokyo stock exchanges. In the normal course of doing business, Toyota employs derivatives financial instruments, including forward contracts and foreign currency options to manage its exposure to fluctuation in foreign currency exchange rates. Toyota does not use derivatives for speculation and trading. (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002) The profitability of Toyota’s operations is affected by many factors including the changes in the value of the Japanese yen against other currencies which Toyota does business. The financial year for Toyota is from 1 April to 31 March. IMPACT OF FOREIGN EXCHANGE RISK ON OPERATION The value of the Japanese yen has fallen generally for the past three years against the dollar and the Euro though there had been periods of  fluctuations. (http://pacific.commerce.ubc.ca/xr/data.html accessed on 14th November 2002). Changes in foreign exchange rate affect Toyota’s revenue, gross margins, operating costs, operating income, net income and retained earnings. Toyota’s cost and liabilities are affected by transaction exposure which relates primarily to sales proceed from Toyota’s non domestic sales produced in Japan. It is also affected to a lesser extent sales proceed from Toyota’s continental Europe sales produced in UK. Toyota’s use of forward exchange rate contracts and currency options is to hedge foreign exchange risk associated with trade receivables denominated primarily in U.S. dollars. Toyota also engages in foreign currency settlements with domestic counter parties. The company enters into forward contracts and purchases currency options (principally euro and dollar) to hedge certain portions of forecasted cash flows denominated in foreign currencies. Additionally, the Company enters into forward exchange contracts to offset the earnings impact relating to exchange rate fluctuations on certain monetary assets and liabilities. The Company enters into forward exchange contracts as hedges of net investments in international operations. This reduces foreign exchange risk and transaction costs in those settlements by handling receipts in the foreign currencies in which they are denominated. Toyota buys supplies from Peugeot in France and is therefore exposed to the Euro exchange rate. It also manufactures engines in Japan for BMW. These inflows and outflows as a result of dealing with these European companies expose Toyota to foreign exchange risks. Cars produced in Japan and other production sites are shipped to Europe and America, which are the major market for Toyota. Toyota has to make a decision as to which currency to price the cars. If the cars are priced in yen in order to avoid foreign exchange risk, Toyota will not be competitive in those markets, as it would have shifted the risk to its customers. If the price is in the domestic currencies Toyota will be exposed to foreign exchange risk. When there is a depreciation or appreciation of the currencies in relation to the yen, Toyota will be torn between changing the price to reflect the change in the exchange rate. This decision will depend on the price elasticity of demand  for cars among other factors. Toyota manages these risks by using forward contracts, money market hedging and option market hedging. Toyota also enters into currency borrowing to address a portion of its transaction risk. Foreign exchange forward contracts are used to limit exposure to losses, resulting from changes in foreign currency exchange rates on accounts receivable and transactions denominated in foreign currencies. Foreign exchange forward contracts, which are designated and effective as hedges of currency, risk on existing assets and liabilities are included as an offset to foreign exchange gain or loss and recorded on the existing assets and liabilities. Foreign currency option is to reduce the risks that are likely to be incurred on account receivable and anticipated transactions denominated in foreign currencies. This has reduced, but not eliminated, the effects of foreign exchange fluctuation. The preparation of Toyota’s consolidated financial statements is in conformity with accounting principles accepted in the United States of America. All assets and liabilities of foreign subsidiaries are translated into Japanese yen at the appropriate year end current rates and all income and expense accounts are translated at rates that approximate those prevailing at the time of the transaction. Toyota therefore uses the temporal method of translation. The resulting translation adjustments are included as a component of accumulated income. Toyota is exposed to translation risk when the results of subsidiaries are translated into yen. The value in yen may not reflect the true value of the subsidiary, as it will also depend on the exchange rate between the two countries at the time of the translation. This can distort significantly when results of different periods are being compared and among various geographical markets. The yen has been stronger in fiscal year 2000 as against 1999. According to Toyota’s Annual Reports, net revenue increased by 6.1% in 1999 and decrease by 0.4% in 2000. If the difference in yen used for translation purposes are eliminated, net revenue would have increased by 5.9% in 1999 and increased by 11.2% in 2000 (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002). Thus, even though the consolidation figure showed a decrease in net revenue in 2000, it was mainly due to the strengthening of the yen in 2000, which made dollar values smaller after translation. The value of the yen against the Euro and the dollar fell generally for the past three years. The fall of the yen for the past three years has made Toyota reported profit when it is translated into yen though in actual fact it may not have been so. Toyota’s net revenue for fiscal year 2002 showed a 9% increase over the previous year. This is because of the weakening yen and the translation effect. If the difference in yen value used for translation purposes is eliminated, Toyota showed only 2.8% increase. Net revenue increased by 15.5% in North America, 24.8% in Europe and 0.4% in Japan, for fiscal 2002 compared to 2001 after consolidation. If translation effect is eliminated, the net revenue in North America increases by only 2.2% and 12.9% in Europe (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002). There was a double digit devaluation of the yen to the dollar in the business year ended March 31 2002. Toyota gained 70 billion yen from favourable exchange rate. The US dollar rose to about 127 yen from about 123 yen a year ago. A strong dollar helps the earning of Toyota by boosting the value of overseas revenue when converted into yen. However, translation effect is a reporting consideration and does not affect Toyota’s underlying operation. Toyota does not hedge against translation risk. Toyota manages its operating exposure by diversifying its operation and financing. It has localised much of its production by constructing production units in most of the countries in which it operates. Local operation allows Toyota to purchase most of its supplies and resources used in the production process in currencies that matches the currencies of local revenue with local expenses. Toyota has asked its UK suppliers to settle all bills using Europe’s single currency, the euro (http://news.bbc.co.uk/1/hi/business/873840.stm accessed on 16th November 2002). This reduces its exposure to changes in the value of the pound. Toyota has diversify its finance base by being able to raise funds in more than one place and thereby take advantage in interest rate differentials. Toyota can therefore borrow in Japan, United States of America or Europe to take advantage of interest rate differentials. With the expected fall in the American Interest rate as against the Japanese interest rate, Toyota can borrow in dollars so as to take advantage of the fall in interest rates. The  expected fall in American interest will lead to a fall in the value of dollars in relation to the yen. This fall will make loans and other commitments denominated in dollars less expensive in yen terms. Toyota will therefore gain from the expected depreciation of the dollar. The most obvious source or determinant of economic currency exposure comes from firms having revenues or costs denominated in foreign currencies. These direct or transaction effects are relatively easy to identify and manage. In addition, firms that also have foreign-based operations will have translation exposures that arise from consolidation. At the same time, there are also a number of indirect effects, which can be just as important and apply both to firms engaged in international business and to domestic firms, but which are substantially more difficult to recognise. This indirect economic currency exposure arises from unexpected movements in foreign exchange rates changing the competitive situation of the firm and which affect the firm’s future cash flows (and hence value). GLOBAL ECONOMIC FORECAST INFLATION DIFFERENTIALS The exchange rate stated simply is the price of one currency in terms of another currency. Exchange rate can therefore be expressed in terms of the law of one price which states that â€Å"in the presence of a competitive market structure and the absence of transportation cost and other barriers to trade, identical products which are sold in different markets will sell at the same price in terms of a common currency† (Pilbeam, K. (1992) International Finance, Macmillan). Relative purchasing power parity says that the change in the price level of commodities in one country relative to the rate of change in price levels in another country determines the exchange rate between the two countries. This in other words means that the rate of inflation in one country relative to another determines the rate of change in their respective currencies. (Ross et al, 1999). Thus if there is higher inflation in one country in relation to others, prices of goods and services will increase in th at country in relation with others and exchange  rates have to change accordingly in response to inflation differentials. According to the World Economic Outlook of the International Monetary Fund (http://www.imf.org/external/pubs/ft/weo/2002/02/pdf/appendix.pdf accessed on 14th November 2002), inflation is expected to move from -1.40% in 2002 to -1.2% in 2003 in Japan. This is 14.3% rise in inflation in Japan. Inflation in United States of America is expected to move from 1.2% in 2002 to 1.9% in 2003. American inflation is expected to increase by 58.3% whereas inflation in the Euro area is expected to decrease by 17.4%. This means that prices of goods and services in America will increase more than prices in Japan whiles prices in Europe is expected to decrease. The expected increase in the prices in America will lead to the depreciation of the dollar against the yen in order to maintain the purchasing power parity. The relative decrease in the level of inflation in Europe as against Japan will lead to the appreciation of the Euro against the yen. The yen is therefore expected to appreciate against the dollar but depreciate against the Euro. This will affect Toyota’s revenues and profits, as whatever amount is translated from dollar to yen will be lower comparatively. However, it will gain when the Euro is translated, as values will be higher after translation. BALANCE OF PAYMENT Balance of Payment measures the flow of economic transactions between the residents of a given country and the residents of other countries during a certain period of time. The use of balance of payment data to forecast foreign exchange rates assumes a fixed exchange rate regime. The balance of payment suggests that the current account get worse as national income rises. This is because the increased income will lead to increased income will lead to increased demand for goods and services including foreign products. This will lead to an increased demand for foreign currencies and a decrease in the value of the domestic currency. The basic tendency is for domestic currency to weaken to pay for the increased imports. In a fixed exchange regime, when this falls below certain limits the domestic government will have to intervene by selling resaves of foreign currencies in the foreign exchange market (Buckley, A. 2000). The same is with surplus where instead of selling foreign currencies, the government will buy foreign  currencies. This will increase demand or supply of foreign currencies and therefore affect the price i.e. the exchange rate. Thus if domestic income levels were to rise, the increase will lead to transaction demand for money which means that if the money stock and interest rates are held constant, the increased demand can only come about through a fall in domestic prices. The fall in domestic prices will then requires a depreciation of the currency to maintain purchasing power parity. However, an increase in foreign income levels leads to a fall in foreign prices level and therefore a depreciation of the home currency to maintain purchasing power parity (Pilbeam 1993). If there is increased demand for Japanese goods and services by Americans and Europeans then the yen is likely to appreciate, as the demand for yen will increase. However, under a floating exchange system, the government has no responsibility to peg the exchange rate. The fact that the overall balance does not sum to zero will automatically alter the exchange rate in the direction necessary to obtain a Balance of Payment close to zero (Eitman et al). If the country is running a substantial current account deficit whilst the capital and financial account balance is zero, it will have a deficit Balance of Payment. There will be excess supply of domestic currency and the market will rid itself of the imbalance by lowering the price through the depreciation of the currency. INTEREST RATE DIFFERNTIALS The interest rate parity theorem implies that if interest rates are higher domestically than in a particular foreign country, the foreign country’s currency will be selling at a premium in the forward market; and if interest rates are lower domestically, the foreign currency will be selling at a discount in the forward market (Ross et al 1999). The link between interest rate and exchange rate is explained by the International Fisher Effect, which holds that the interest rate differential is an unbiased predictor of future changes in the spot exchange rate (Rugman et al 2000). This differential is also important in determing forward exchange rates because this rate would be that which neutralises the difference in interest rates between the two countries. If the interest rate of one country is expected to fall in relation to another country, this will make the demand for  financial instruments denominated in that currency to fall. This fall in demand for financial instruments will lead to a fall in demand of that currency and therefore a depreciation of that currency. However, if interest rates are expected to rise in relation to other countries, there will be an increase in demand for financial instruments denominated in that currency and an appreciation of the currency. In practical terms, the international fisher effect implies that while an investor in a low interest country can convert his funds into the currency of a high interest country and get paid a higher rate, his gain (the interest rate differential) will be offset by the expected loss because of foreign exchange rate changes. The recent announcement of a fall in the American interest rate whilst the Japanese interest rate remain constant will lead to a fall in the demand for dollar denominated instruments and therefore a fall in the value of the dollar in relation to the yen. The Euro interest rate is not expected to change and therefore the exchange rate between the yen and the Euro may not change on the basis of interest rates. RISK MANAGEMENT STRATEGIES â€Å"Toyota uses a value-at-risk analysis (â€Å"VAR†) to evaluate its exposure to changes in foreign currency exchange rates. The value-at-risk of the combined foreign exchange position represents a potential loss in pre-tax earnings that are estimated to be  ¥25.2 billion as of March 31, 2001 and  ¥24.0 billion as of March 31, 2002. Based on Toyota’s overall currency exposure (including derivative positions), the risk during the year ended March 31, 2002 to pre-tax cash flow from currency movements was on average  ¥25.0 billion, with a high of  ¥26.7 billion and a low of  ¥22.9 billion. The value-at-risk was estimated by using a variance/ covariance model and assumed a 95% confidence level on the realization date and a 10-day holding period. Toyota changed the model used for calculation of value-at-risk from â€Å"variance/covariance† method to â€Å"Monte Carlo Simulation† method because Toyota introduced a new system, which Toyota considers more effective for risk management purposes. The prior year amounts have been restated to the fiscal 2002 presentation.† (Toyota Annual Report 2002) LEADING AND LAGGING. Larger, more centralized corporations have additional options that may be employed to help control the foreign exchange risk of inter company transactions. One effective and potentially profitable approach involves leading (prepaying) payments when the payer’s currency is devaluing against the payment currency and lagging those payments if the payer’s currency is appreciating. Lagging is when a company pays its financial commitments late so as to take advantage of a devaluing currency. Leading on the other hand is paying early before a currency devalues. It serves as a means of shifting liquidity between subsidiaries to avoid bid – ask spreads and take advantage of interest rate differentials (Clark E. et al 1993). Toyota should take advantage of the fall in the interest rates in United States and subsequent expected fall in the value of the dollar. The American subsidiary should pay early all monies owned to the parent company in Japan. This will give a higher value than waiting for the dollar to devalue before paying. From a company wide standpoint, the treasurer can direct leading and lagging policy in order to take advantage of the favourable effects of exchange rate fluctuations. Additionally, leading and lagging policies may be used to shift funds from cash-rich to cash-poor affiliates, thereby improving short-term liquidity. However, leading and lagging is only possibly when the company has 100% ownership of the subsidiary. This is because the effect of an extended or reduced payment date alters the relative rate of return of each subsidiary. This is unfair to minority shareholders, as they do not necessarily benefit from such a practise that benefits the multinational as a whole. (Eiteman et al 2001). Toyota’s subsidiary in the US has minority shareholders like General Motors and these will be at a disadvantage if Toyota should use leading and lagging to manage its exposure. Inequality may arise unless the adjustment is made to reflect a subsidiary’s sacrifice. NETTING. Netting inter company transfers is another form of international cash management strategy that Toyota can employ. It requires a high degree of centralization. The basis of netting is that, within a closed group of related companies, total payables will always equal total receivables. Netting is useful primarily when a large number of separate foreign exchange  transaction occur between subsidiaries (Eiteman et al 2001). Thus instead of Toyota paying monies owed to and by each subsidiary, the subsidiaries can net off each others debt and thereby not deal in the foreign exchange market. In order to reduce the bank transaction cost, such as spread between foreign exchange bid and ask quotations and transfer fees, Toyota should establish an in house netting centre. The exposure that remains–net payments to payees–can then be hedged in the forward market if desired. The advantages of netting are  · A reduction in foreign exchange conversion fees and funds transfer fees as commissions on foreign exchange transactions and funds transfer are drastically reduced.  · A quicker settlement of obligations reducing the group’s overall exposure. REINVOICING. Reinvoicing goes one step beyond the centralized approach of multilateral netting by way of a clearing centre. A reinvoicing centre buys goods from the manufacturing subsidiary or parent, without taking possession, and reinvoices other company affiliates or third parties when it sells the goods. By conducting all transactions in the affiliate’s functional currency, the reinvoicing centre bears all currency risks. This prevents the FC exposures from distorting the subsidiary’s operating profit (loss). In addition, the reinvoicing centre allows for centralized cash flow management, increase international business expertise and opportunities for arbitrage. The centre also improves and centralizes banking relationships and acts as a central purchasing agent for subsidiaries. Most important, the reinvoicing centre can assess its net position on all inter company transactions and hedge in the forward market accordingly. Problems with reinvoicing centres are * Some countries prohibit reinvoicing centres, as well as any third-party billing (for example, France, Spain,). * They are very expensive to set up because sophisticated information systems and legal and tax expertise are required. BACK TO BACK LOANS Back to back loans is when two firms arrange to borrow money in each others currency so as to avoid the risk associated with exchange rate fluctuation. Toyota can enter into an agreement with an American company that has a subsidiary in Japan. Toyota can then lend yen to the Japanese subsidiary of the American company and the American company in turn lends Toyota’s American subsidiary money in dollars. This will reduce the risk that Toyota will have had if it had lend the money to its American subsidiary as the expected fall in the value of the dollar will have reduced the amount of yen to be received. The advantage with back to back loan is there will not be the need to change currencies as loans will have been contracted in the functional currency of the subsidiary and therefore there will be no risk. However it is very difficult to get a partner who will be prepared to enter into such an arrangement. NATURAL HEDGING Natural hedging is to manage an anticipated exposure to a particular currency by acquiring a debt denominated in that currency. Thus if a firm has a long term inflow in one currency, the firm can acquire an outflow in the form of a loan in the same currency and use the inflow to service the debt. Since Toyota’s main markets are the USA and Europe, it can take out loans in Euro or dollars and use the proceeds from its operations to pay for the loan. Toyota will then not have to bother about the exchange rate fluctuation, as it will be paying the loan from proceeds generated from local operations. Toyota is also asking its British suppliers to bill them in the Euro so as to reduce the risk. This is effective in eliminating currency exposed when the exposure cash flow is relatively constant and predictable over time (Eiteman et al 2001) FORWARD CONTRACT Forward contract is an agreement to exchange currencies of different countries at a specific future date and at a specific forward rate (Eiteman et al 2001). If Toyota has receivables denominated in US dollars in the form of loans owed to the parent company, it can enter into a forward contract to hedge against the expected fall in the value of the dollar. When the value of the dollar depreciates, Toyota will therefore not be at risk. However, should the predictions not come true and the dollar rather appreciates, Toyota would have lost the opportunity of earning more on the spot market. REFERENCES 1. BUCKLEY, A. (2000) multinational finance. 4th ed., Harlow : Financial Times Prentice Hall. 2 CLARK, E. LEVASSEUR, M. ROUSSEAU, P. (1993) international finance, London : Chapman and Hall. 3 PILBEAM, K. (1992) international finance, Basingstoke : Macmillan Education. 4 RUGMAN, A. M. (2000) international business: a strategic management approach, 2nd ed., Harlow: Financial Times/Prentice Hall. 5. EITEMAN, D.K., STONEHILL, A.I., MOFFETT, M. H. (2001) Multinational business finance, 9th ed., 6.ROSS, S.A., WESTERFIELD, R., JAFFE, J. (1999) corporate finance, 5th ed., London: McGraw Hill. 6. (http://www.imf.org/external/pubs/ft/weo/2002/02/pdf/appendix.pdf accessed on 14th November 2002), 7. (http://www.toyota.co.jp/en/ir.html accessed on 14th November 2002) 8. (http://pacific.commerce.ubc.ca/xr/data.html accessed on 14th November 2002) 9. (http://news.bbc.co.uk/1/hi/business/873840.stm accessed on 16th November 2002)

Poetry and Painting

Analysis on the Relationship Between Poetry & Painting An analysis on the relationship between poetry and painting Lope De Vega, in one of his sonnets, refers to two famous contemporaries in a striking way; he calls the Italian poet Marino â€Å"a great painter for the ears† and the Flemish painter Rubens â€Å"a great poet for the eyes†. Six hundred year and 6000 miles away, a similar concept occurs in a parallel situation. The Chinese poet Su Shi, in one of his poems, praises two men, one a poet and the other a painter: â€Å"Tu Fu’s poems are figureless paintings, Han Kan’s paintings are wordless poems. In both poems, a very special relationship is established between poetry and painting. They are considered parallel and comparable; more than that, they take each other’s place. A comparative treatment of the same phenomenon in two widely seperated and obviously unrelated literatures may bring out siginificant differents as well as integritions. Actually, the conversation between poetry and painting has been through centuries, traced back to 6th century until now, different people have different opinions. For Plato, poets and painters are both imitators and their work a third-generation removed from the truth. For Aristotle, â€Å"The poet being an imitator just like the painter or other maker of likenesses, he must necessarily in all instances represent things in one or other of three aspects, either as they were or are, or as they are said or thought to be or to have been, or as they ought to be. † More than five hundred years ago Leonardo da Vinci entered into a stinging debate with a bunch of pompous poets who degraded painting as a mechanical art. Defending the primacy of art, Leonardo—painter, architect, scientist, and a genius of high Renaissance—snapped: â€Å"If you call painting dumb poetry the painter may call poetry blind painting. † He argued that a good painter can provide a more intelligible and beautiful sense experience than a poet because painting satisfies the eye whereas poetry appeals to the ear and seeing is superior to hearing. In the 18th century the playwright and philosopher Gotthold Lessing described the intrinsic difference between ainting and poetry in terms of the distinction between image and word. He rejected the ancient belief that these two arts are in fact similar, or as the Roman poet Horace put it: Ut pictura poesis (painting is like poetry). Lessing also pointed out that the domain of painting is space while the domain of poetry is time. In my opinion, transfering a poem exactly to another form is quite an impossible task because of the unique nature of every vernacular and their peticular idioms. And on the other hand, painting as an art form is unique as well. It can portray astonishingly beautiful or ugly people, or show breathtakingly magnificent or depressingly dull landscapes and still lives and other visual phenomenon, which defy exact verbal description. Generally speaking, objects of the visual world can be represented in painting more accurately than in words. However, poetry has the upper hand in describing emotional states and mental events. A comparison of these two art forms reveals that in many ways both poetry and painting resist conversion, and they mutually defy transference into each other. However, despite their irreconcilable differences, painting and poetry share many common attibutes. With the development of literature and enlargement of understanding about this world, we have to acknowldge the integration of poetry and painting as well. Through five thousand years of continuous civilization, Chinese art has developed a rich language of symbols. By the second century the image of falling leaves, for instance, had become a metaphor for troubled times in which great talent was cast aside and unjustly punished with exile. Magnificent flowers often symbolize beautiful ladies. Rising above a lake they may represent fairies with red hair spins walking above the water and one single lotus flower in the Hua Qing Pool is like the entire world. In spite of its fragmentary posture western culture has produced great artists excelling in different branches of art. Among painters and poets the oeuvre of such artists as Michelangelo, Goethe, William Blake, Apollinaire and Picasso shows the unity of painting and poetry. As the proverb goes, â€Å"there is a poem painting, painting in poetry†. A successful poem, in my perspective, is the one with a relative aesthetic painting in our mind when we read it. That is what we called in Chinese Yi Jing. For example, a famous poem in China â€Å"Shi Zhi Sai Shang† written by Wang Wei, which gives us a picturesque painting in our mind immediately: the desolation and broadness of a frontier fortress, a puff of smoke and the setting sun†¦In terms of painting, painter integrates with poetic beauty. In Song dynasty, the task for getting a professional painter certification required examine to draw a painting according to a piece of poem. Poetry enters the painting, bringing the creativity into the painting. Even the limit of time can also be overcome. In conclusion, although poetry and painting have some differences, they both are important literature forms, we pay more attention to what they bring to us. In my vision painting and poetry invite us to step into a deeper level of reality that lies under the peel of surface appearances. The creativity power of art can play a significant role in ameliorating the human human condition, in making the planet a habitable and welcoming environment for ourselves and for future generations. Without concern, responsibility, care, compassion and love we cannot survive.

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buy custom The History 1945-1992 essay Bipolarity is one of the ways in which global power is distributed among the countries of the world. It entails a situation where power is distributed only to two countries/states, which have strong economic, military, and cultural influence over countries of the world (Richard, Walter, Janice, 2007). After the Second World War, the USA and the USSR emerged as the worlds strongest states in terms of military and economic superiority. The USA attracted influence over democratic countries of the West, while the USSR attracted influence over many of the communist/socialist countries. Immediately after the Second World War, a conflict emerged between the democratic nations, under the influence of the USA, and the communist nations, under the influence of the USSR. The bipolarity nature of distribution of the worlds power led to emergence of the Cold War. Countries from both sides used propagandas, economic sanction, and sporadic military clashes to attack each other (Richard, Walter, J anice, 2007). As the cold war continued, the political gap between the USA and the USSR became wider. In 1950, Korea became a proxy battleground for the two superpowers due to its division along the political ideologies. The north supported political ideology of the USSR while the south supported the political ideology of the USA. The Korean War began when the USSR was able to spread its communism influence in the Far East and was able to put China under its enchantment (Richard, Walter, Janice, 2007). Its plan was to take over the whole Korea, both the South and North parts. Due to the impact of the war, the South Korean military superiority had reduced from over 40,000 soldiers to around 472 ill-equipped soldiers. The North Korean socialist forces thought they would take over South Korea without much defect from the USA given that its military might in South Korea was weak. In June 1950, the North Korea forces invaded South Korea and managed to capture Seoul, the capital city of South Korea. Th is is what contributed to the war between the USA and the USSR in Korea as the USA tried to recapture the Southern Korea from the USSR During the Second World War, the USA and the USSR had some form of diplomatic ties. This is because they had a common enemy: the Nazi Germany. The USA army shared the same battle font with the USSR army as they fought with the Nazi Germany. In fact, since the USA and the USSR fought as allies during the Second World War, it was thought that the two nations would become great allies after the war. However, this never happened. The kind of diplomacy and warfare tactics, which existed before 1945 ended. This happened towards the end of the war, when Truman informed Joseph Stalin that the USA had developed terrifying weapons, which it planned to use against the Japanese. Stalin was terrified for he did not know when and how the USA developed the weaponry. In return, Stalin developed strategies to expand the military might of the USSR by increasing the size of its army. By the end of the Second World War, the USA was armed with sophisticated weapons while the USSR had a vast army. This co ntributed to distrust between the two sides, and all diplomatic and warfare ties, which existed during the war broke in 1945 (Richard, Walter, Janice, 2007). Before 1945, the USA never used to get concerned with the problems of other nations. It had adopted an isolationist policy concerning foreign matters. Prior to 1945, the USA viewed the problems of other nations, particularly problems involving war between and among nations of the world, as own businesses of those nations, and would avoid getting involved except when its security was directly threatened. However, after 1945, the USA realized that insecurity in other nations of the world destabilized its economic activities. For this reason, the USA changed its foreign policy from isolationist to internationalist. Since then, the USA adopted a foreign policy, whose doctrines entail creation of a more secure, peaceful, and democratic world for the benefit of the Americans and the international community. In many instances, the USA has provided military and economic support to different countries of the world, in efforts to ensure economic and political stability of the world. For instan ce, in 1989, the USA developed military ties with non-NATO member countries. After the September 11 attacks, the USA has formed more non-NATO allies with countries in the Middle East region. Currently, the USA has allied ties with Egypt, Israel, Pakistan, Saudi Arabia, Morocco, and Kuwait, among other nations. The USA has other allied ties with other nations, which include the United Kingdom, Canada, Australia, Korea, Japan, and Mexico. During the period between 1950 and 1960, the American political and economic activities operated under consensus. This consensus entailed a consultative approach to governance (Morris, n.d.). The governing political party would engage in institutionalized consultation with all the economic players in the USA. The governments priority during that time was to satisfy the economic interests of all major civil society groups. Through the socio-political consensus, the USA was able to achieve full employment and increased production in all economic sectors. However, towards the end of 1960s, the consensus ended. Studies indicate that the rise of adversarial leaders such as Heath and Gaitskell contributed to the end of the American socio-political consensus. In 1969, Heath, a radical, won the elections (Morris, n.d.). This led to restructuring of the social rights and economic framework, which had been established by Beveridge and Keynes during the era of socio-political consensus. The Uni versalists principles were replaced by redistributive principles. During the era of socio-political consensus, the incumbent governments would voluntarily accept the policies of their predecessors governments. However, this took a u-turn when Heath was elected to the government. Healths government failed to adopt the income and industrial policies, which had been established by the former government. When Wilson took power in 1974, his government also rejected the education and housing policies, which had been established by the former ruling parties. In 1976, provisions for full employment were abandoned on the national budget. The actual break-up of the socio-political consensus of the 1950 was experienced in 1979 when the Conservative Party abandoned the entire consensus, which included conciliation of trade unions, Keynesianism, and a mixed economy (Morris, n.d.). The origin of Vietnamese Nationalism can be traced to 1919, when Ho Chi, a Vietnamese socialist activist living in France during that time, presented a number of demands during the Versailles Peace Conference (Richard, Walter, Janice, 2007). Ho Chi demands included liberation of Vietnamese political prisoners, freedom of speech and representation of Vietnamese in the French parliament, among others. France refused to honor Ho Chi demands. This led to emergence of various communis and nationalist movements in Vietnam. Frenchs determination to counter the nationalist movements was not successful. Many of the nationalist movements were made of urban-based military groups, which rebelled against the French colonial rule. Even though these movements did not have great military might over French rule in Vietnam, they managed to create numerous enduring organizations. One of these organizations was the Vietnamese Nationalist Party, founded in 1927 (Richard, Walter, Janice, 2007). Apartheid in South Africa started in 1948, shortly after the Second World War. Here, a system of racial segregation was introduced whereby inhabitants of South Africa were divided into four categories: whites, Asians, colored, and natives. Residential areas were segregated where every category of inhabitants had it specific area of residence. Political representation of non-whites was abolished and all non-whites residing in South Africa were deprived their citizenry rights. The history of apartheid in South Africa can be traced to 1880 to the first Anglo-Boer War. During this time, the Boers (South Africa farmers) rebelled against the British rule. The Boers were able to restore their sovereignty. However, in 1899, the second Anglo-Boer War broke-up. The second Boer War was longer than the first war. Britain positioned large number of its troops, which captured women and children in concentration camps. This is when racial segregation of the blacks in South Africa started. However, it became apparent in 1948 when the National Party of South Africa segregated medical facilities, beaches, education, and other public facilities. The blacks would receive inferior services while the whites enjoyed superior public services (Richard, Walter, Janice, 2007). The Iranian revolution started in 1979. The actions of the then Western-backed Iranian leader, Shah, led to the commencement of the revolutions. Shah depicted strong support of the Western policies and close identification with Western powers, specifically the United States. Shah constantly received aid from the West in terms of military and financial aid. For instance, in 1953, Shah received military assistance from the USA through CIA, which helped him to retain his political position in Iran. Iranian-based religious and secular movements considered him a Wests puppet. Another reason for emergence of the Iranian revolutions was failure by Shah to support the Shia religious leaders. This made religious movements based on Islamic faith to rebel against him. In 1976, Shah had replaced the Islamic traditional calendar with the imperial calendar. This evoked aggression from the Islamic-based religious movements. Success of the Iranian revolution was based on self-determination and confi dence of the anti-Shah activist, Ayatollah Khomeini. Khomeini was able to gather support from the Iranians, and was able to convince them to support the Shia leaders. For instance, he was able to organize a 40-day street protest, which helped to strengthen anti-Shah feelings for many months (Richard, Walter, Janice, 2007). In 1991, after the end of the WWI, the Allied powers, the USA, Britain, Italy, and France, headed to France to prepare peace terms. They congregated at the Paris Peace Conference of 1919. During the conference, France suggested that German was to be punished for instigating the war. This is what led to formation of the Versailles treaty, which provided for redrawing of national boundaries. Britain and France capture the defeated Ottoman Empire, which was previously under Germans rule, as well as all other German colonies. France and Britains action caused changes in the physical boundaries of Middle East region, hence the redrawing of the map of the Middle East. Studies indicate that the redrawing of the Middle East map was not suitable. This is because the action generated violence, political instability and dictatorship in the Middle East region. Since the physical boundaries of the region were changed, many of the Middle East countries have been experiencing political instability (Richard, Walter, Janice, 2007). Stalins death marked a critical moment in the history of the USSR. Stalin died on March 5, 1953. After his death, his successors tried to change the worlds image of the USSR. For instance, Stalins immediate success, Malenkov, commenced a peace offensive, indicating his intentions to slow the arms race between the USSR and the USA. Malenkov released a press statement as soon as he took office, stating that the Soviet foreign policy was to maintain international cooperation with all nations of the world. He stated that the SovietRepublic was willing to support peaceful coexistence and business cooperation between the two political systems: the communism and capitalism. Successors of Malenkov echoed improved relations between the communist countries and the capitalist countries. It is therefore clear that the death of Stalin in 1953 paved way for improvement of the foreign relations between the SovietRepublic, and other countries of the world, including the USA (Brook, 2005). Perestroika was a communist-based political party, which was established in 1980s by Mikhail Gorbachev, a Soviet leader. The term perestroika means to restructure. The aim of perestroika political movement was to restructure the economic and political systems of the SovietRepublic in order to promote the effectiveness of socialism (Richard, Walter, Janice, 2007). One of the economic policy perestroika was the New Economic Policy, which allowed citizens of the SovietRepublic to own private businesses in the manufacturing, service, and foreign-trade sectors. In the politics, perestroikas policies included the democratization policy, which introduced election of multi-candidates to local positions. During the mid-1980s, Mikhail Gorbachev introduced the glasnost policy. The term glasnost means openness. Glasnost policies were the policies, which Gorbachev believed that they would help end corruption in the SovietRepublic. Such policies included freedom of speech, freedom of the media, a nd radical change. The main goal of glasnost policies was to enhance transparency in the government, and open communication between the government and the citizens, through increased public debates (Richard, Walter, Janice, 2007). After the WWII, the USA adjusted its foreign policy towards other countries of the world. As earlier mentioned, before 1945, the USA avoided getting concerned with issues of other countries, specifically those that involved war. However, after 1945, the USA adjusted its foreign policy, to include economic and military cooperation with its allied nations of the world. This approach to foreign relations is what made the American foreign policy to coincide with the European unity. Through the American foreign policy, the USA has been supportive of European integration. Furthermore, the aim of the European Union is to ensure unity among all its member nationns of the world. Since America adopted its foreign policy of cooperating with other nations of the world, it has been accessing funds from the European Union to support economic and political integration of nations outside Europe as well as encouraging them to join the European Union, hence contributing to greater European unity (Rich ard, Walter, Janice, 2007). Among all the member states of the European Union, the United States of America, Brazil, Russia, China, and India can be said to be the current superpowers in the European Union. A nation is deemed a superpower in the European Union if it has the ability to exert economic, political, and military influence over other member states. This ability is measured by economic growth, availability of large markets, military growth, and ability to influence international policies. The United States of America is the largest superpower in the European Union. This is because its GDP over the last five decades has been growing at an increasing rate. It has also managed to maintain global military superiority as well as influence policy formulation in international affairs. However, due the current economic crisis, the USA is likely to lose its leading position as the economic superpower in the European Union to countries such as China and Brazil (Richard, Walter, Janice, 2007). The Chinese Nationalist Movement was based on diverse ideologies, which included Marxism, American progressivism, the Chinese traditional thinking, and the Russian thought. The movement also included ideologies of the ultra-imperialism. Often, the Chinese Nationalist movement portrayed conflicting manifestations. Some of these manifestations include the Communist Party of China, Fascist blue shirts, and three principles of the people, among others. Nevertheless, the Chinese Nationalist Party mainly supports centralization of the Chinese government. The aim of the movement is to ensure formation of a government structure, which will ensure formation of strong relationship between China and foreign powers, and among all the Chinese people (majority, minority, and overseas Chinese) (Richard, Walter, Janice, 2007). Illyich Lenin, the Soviet leader, and Mao Zedong, the Chinese leader, were leaders of revolutions in their respective nations. Both leaders played significant roles in revolutionizing the lives of residents in their nations through the ideologies of Karl Marx (Marxism). However, their approach to revolution was different. Studies indicate that Maos approach towards revolution was rural-based. Mao believed that revolution would not take place without the poor peasants. In addition, he believed that denying the peasants a role in the revolution process was like denying revolution. He allowed the peasants to take the leading positions during the revolution. However, he allowed the urban intellectuals to participate in the revolution through allocating them a few leadership positions (Ram, 1998). On the other hand, Lenin took a capitalist approach to revolution. According to Lenin, capitalism was a precondition for socialism (Ram, 1998). He therefore gave attention to the urban bourgeois ie during the early phases of revolution. Lenin termed peasants as mere allies to the revolution. However, after the urban bourgeoisie failed to bring revolution as desired by Lenin, he turned to the peasants, hoping that they would help him achieve his political goals. Nevertheless, Lenin still held his belief that urban workers were the central force to revolution in Russia (Ram, 1998). Deng Xiaoping was one of the Chinese leaders, who played a great role in economic and cultural revolution in China. His leadership between 1976 and 1992 was very important to China. This is because, when he emerged, immediately after the death of Mao Zedong, the economy of China was suffering a downturn. Deng introduced economic reforms aimed at developing the agriculture, defense, industry, and technology sectors (Richard, Walter, Janice, 2007). He replaced the commune system established by Mao with the Household Responsibility System. Under this system, every household was to give an account to the government of what it chose to produce. In additionally, all households were allowed to keep surplus produce for private use. Moreover, Deng introduced political reforms, where all political systems observed the rule of law as opposed to rule based on personal ideologies. After his retirement, he encouraged old leaders to allow the young and energetic leaders to take leadership position s (Richard, Walter, Janice, 2007). Many regional organizations, which are present in the world today, were established over fifty years ago, after the end of WWII. Such organizations include NATO, OPEC, EU, and WTO. These organizations were formed to ensure economic and political recovery of the nations of the world after destruction of many of the worlds economic and political systems by the world wars. However, in the current world, the role of these organizations is becoming insignificant, specifically due to the effect of globalization. Therefore, these organizations should be replaced with new organization, which has the capacity to foresee economic and political development of the countries of the world under the currently globalized environment. Over the years, the UN has been playing a critical role of organizing relief efforts across different nations of the world during emergencies. The UN has also been in the forefront in safeguarding the human rights. Through the UN charter, every human being in the world today enjoys various rights and freedoms. For these reasons, the UN stands to overcome possible abolition as compared to other organizations, which were established after WWII. However, the UN should increase its role in ensuring social, political, and economic equality and justice in the world. Currently, many individuals are suffering political, social, and economic injustices as well as inequalities, without receiving much assistance from the UN. Therefore, it should increase its participation in ensuring global justice and equality (Richard, Walter, Janice, 2007). According to various researchers and political scientists, it is likely that the world will experience another world war. Treder (2007) observes that even though the world has been experiencing long decades of peace and reduced violence, certain factors are likely to instigate a third world war. Such factors include global climatic conditions and new technologies. Treder (2007) states that more deadly, cheaper, and easily accessible and portable weapons will characterize the future of warfare. Due to rapid advancement in technologies, regional powers will emerge, causing destabilization of the current worlds superpower. Collapse of ecosystems, increased global droughts, crop failure, and increased killer storms, all because of disruption of global climate, will cause tensions among the countries of the world, resulting to regional and international uprisings (Treder, 2007). Buy custom The History 1945-1992 essay

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