Sociological Criticism Essay Essay Example

Sociological Criticism Essay Essay Name: Course: Institution: Date: We will write a custom essay sample on Sociological Criticism Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Sociological Criticism Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Sociological Criticism Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Sociological Criticism Essay The Library of Babel written by Jorge Luis Borges is a story in which the writer attempts to envision the universe as a library consisting of a large variety of books that have been published using a unique format (Ackerley 171). The writer expresses his perception as the earth containing a large area that is occupied by hexagonal spaces of which each consists of requirements that are bare for the survival of humanity. Although the organization of various books is unsystematic and pointless, the occupants assume they consist of all the achievable arrangement of a few fundamental elements. One of the sociological theories found in this book is Mystery. This has been expressed by the author where he causes the readers to visualize an atmosphere of the unknown that consists of things that cannot be perceived in the realistic sense (Ackerley 171). For example, the author’s idea of the entire universe turning into a library can only be viewed in the imaginary sense and hardly in actuality because the earth consists of a lot more than just books including natural features such as plants and water that cater for other living organisms like animals. The second theory is on functionality, in which the author expects his imaginary library to consist of data that will be of immense use to the readers. He describes its usefulness as having futuristic information, biographies of any individual, and the data translated in all languages of the earth. This shows that the author values the imaginary library because of more of its functionality rather than its appearance. The author views the books that are currently being used in the world as useless and therefore, wants the imaginary library to have the functionality of providing information that has more value and meaning to the inhabitants of the earth. The other sociological theory found is purification, in which the author believes the futility of books to have left the librarians in a depressed state and hence believe in performing superstitious actions including destroying those books (Daniel 270). This is done to cleanse the meaninglessness in the library and is achieved by the librarians seeking a supernatural source known as the Crimson Hexagon. Figurative interaction is another theory in which the author believes that within the whole range books found in the library, there has to be one faultless book that has been read by a messianic body (Daniel 271). The author uses this symbolic language to express how he believes that in the midst of all the books he found meaningless, there is a certain book with supernatural influence, in which the librarians honor and seek. The social patterns displayed in the characters of this story appear as learned. This is because the author talks about librarians who have great enthusiasm in being acquainted with a high level of information and hence the reason why they feel the urge to make the library in being more useful. For example, the librarians are illustrated as being in a state of despair after realizing that the content in the library books is pointless. This shows their interest in becoming great-learned people. The librarian characters are also shown as being sacred in the scene where they seek for a supernatural source to guide them and give advice on how to transform the library from an empty state to a more purposeful and significant functionality of learning (Perla 17). The librarians also believe that the supernatural power exists in one unique book within the current library, which acts as a guide for referring the reader to useful information. The narrating character, used by the author to tell the story appears to be truly creative. This is evident in his concept of an imaginary library in which its elements are made of the entire universe. The creativity appears where the narrator expresses an idea that cannot be rationalized within the real world. The narrator also appears to be explorative since within the description of his imagination, he brings in the element of discovery where he expresses a particular result if his ideas were brought to life (Perla 17). For example, the narrator experiments by creating a scenario in which the whole universe would transform into a library that would provide all humankind with the information they needed. In addition, the narrator creates a scenario in which the information would include the biographies of each individual that existed on earth. The social patterns illustrated in the author’s culture include being learned or the educated culture. This is because of his background of working in an occupation, where he is surrounded by educative or learning materials. Jorge Luis Borges had various roles including being a poet, writer, essayist, librarian and a University lecturer. This shows that in his career, he was surrounded by various fields of education and hence his interest in being associated with his learned culture. Borges’ work shows that he is critical and selective. For example, criticism is shown where he despises the current libraries by regarding the information contained as useless. This is the reason he expresses his idea of creating a particular library that is much greater in terms of its provision of significant information. The author displays his critiquing selective behavior where he expresses his comments on the functionality of the current libraries. The author also appears to honor and acknowledge the value of education in the society. This is evident in the way he expresses education in the story to the extent of including some form of divine power controlling the impact of information provided by educative materials. Reference Ackerley, C. â€Å"Borges’s the Library of Babel and Jeans’s the Universe Around Us.† The Explicator. 63.3 (2005): 170-172. Print. Eilon, Daniel. â€Å"Swift Burning the Library of Babel.† The Modern Language Review. 80.2 (2007): 269-282. Print. Sasso?n-Henry, Perla. â€Å"Borges’ â€Å"the Library of Babel† and Moulthrop’s Cybertext â€Å"reagan Library† Revisited.† Rocky Mountain Review of Language and Literature. 60.2 (2006): 11-22. Print.

Doomsday essays

Doomsday essays The Divine Comedy is a tale of the Pilgrim (Dantes ego) beginning his travel through Hell (Inferno) and learning about sins pervasiveness. The torments of the sinners, who exist forever without hope of redemption or of an end to their suffering, graphically illustrate sins consequences. As the reader and Pilgrim move through the underworld, the shades they see and speak with provide physical examples of and exemplary lessons on the seven deadly sins. At the end of Inferno, the Pilgrim and reader are better able to recognize sin in its various forms and to avoid committing it. Salvation and further spiritual education are impossible without such knowledge. In the second section, Purgatorio, the Pilgrim and the pilgrim reader move up the Mountain of Purgatorio to the Garden of Eden at its peak. Along the way they learn the value of contrition and repentance, of having to suffer for causing suffering and for disobeying God. They learn this again by seeing and interacting with shades who represent the Seven Deadly Sins but who here exemplify the desire for contrition and repentance. The learning process concludes in the third section, Paradiso, where a plethora of saved souls appear to the Pilgrim and explain the workings of grace and Gods love to him. In this celestial region, the Pilgrim takes a series of what we might call oral exams which test his growing knowledge. Schooled by his experiences in the three regions, having gained a firm understanding of sin and grace, the Pilgrim passes his exams and graduates to the vision of God. He, then, becomes a teacher, because he returns to earth with instructions to write about his experiences for the benefit of others. ...

Development and Training Leaders and Managers Essay

Development and Training Leaders and Managers - Essay Example FedEx Corporation, CNN, Hewlett-Packard among others, had difficulty starting their businesses but now end up as megalith corporations looked up by everyone. Analysts account this phenomenon to hard work, business acumen, resilience, effective marketing strategies among others. But almost everyone else agree on two factors that consist as common denominators of all these firms and these are to wit: leadership and effective management. Even in educational administration, these two factors are necessary in order that high education officials be able to properly develop leaders and managers who would make this world a better place to live in. weighing 2.5 tons each be constructed if there was no effective leadership, coordination, management and administration. Or how could Alexander the Great unify and maintain his world empire which stretched across the vast expanse of Asia as well as in parts of Europe and Africa if there was no effective leadership and management ( Gamage & Pang 2003, p.4). Thus, because leadership and management make any organization effective and fruitful and are of paramount importance to any such organization, both must be inculcated and developed in present and future high officials of any organization as well as students in all schools worldwide. Upon the shoulders of all educators and all heads of educational organizations lie the onus of training and developing the qualities of good leadership and effective management in all students in all schools and colleges. Likewise, these educational institutions should also ensure that they develop future efficient education leaders and managers to fortify such role of educational institutions. Thus, in recent years the focus of attention by governments is the development of research and policies and practices that would strengthen educational leadership. The challenge is now to develop the human potential for leadership and management (Bush & Middlewood 2005, p. vii). Educational Leadership and Management The notion of educational leadership varies from one author to another but it is certain that educational leadership involves a process of influence. Thus Yukl defines it as that which "involves a social influence process whereby intentional influence is exerted by one person or group over other people or groups to structure the activities and relationships in a group or3 organization" ( Bush 2003, p.5). But it must be stressed that anyone will have difficulty influencing any group of people if his character is less than sterling i.e. if his personal values and mindset leave much

Water and Environment science Research Paper Example | Topics and Well Written Essays - 500 words

Water and Environment science - Research Paper Example the inhabitants of the Portland city since it supplies them with sufficient amounts of fish like the Chinook, Sockeye and the Chun Salmon, wild animals as well as natural sceneries. The bird species are found on the river banks and they include the bald eagles and the great blue herons (Sethajintanin, et al., 114). Willamette River has undergone a tremendous change in the last two hundred years which is characterized by various human activities like the building of dams, dykes, and dredging. There are various sources of pollution in the Willamette River which include the sanitary discharge from the cities of Corvallis and Portland whose combined storm as well as the sanitary sewer release untreated sewage in to the river during the rainy season. Oil and fuel spills are common in the river because of the boating activity common in the river. Sediment erosion is common in the area where flood carries pollutants from upstream areas in to the river thus causing pollution of the river. Household wastes like solvents soaps as well as the household chemicals that are washed down from the roofs and eventually drain into the river (Poor & Jeffrey, 772). The Willamette River is now considered cleaner than it was in the late 1920’s and in the 1930’s when the river was in a much polluted state that a fish placed in it could die immediately. An authority known as the State Sanitary Authority which was later changed into the Department of Environment Quality. This Authority was responsible for overseeing the cleaning up of the River. In 1968, a major clean up was done which involved the identification of all major waste discharges were controlled thus making the river much safer (Rojas-Burke, 134). From the results of the data collected from the river it is clear that the temperatures were high during the three testing scenarios because of the times in which the samples were taken. High temperatures affect the functioning of the aquatic life since their bodies function

Corporate law Case Study Example | Topics and Well Written Essays - 2500 words

Corporate law - Case Study Example The exception to this is that the reserve may be applied by the company in paying up its unissued shares which are to be allotted to company members as fully paid bonus shares. Further, if the permissible capital payment exceeds the nominal amount of the shares redeemed or purchased, the amount of any capital redemption reserve, share premium account or fully paid share capital of the company, and any amount representing unrealised profits of the company for the time being standing to the credit of any revaluation reserve, may be reduced by a sum not exceeding, or by sums not in the aggregate exceeding, the amount by which the permissible capital payment exceeds the nominal value of the shares.4 Where, however, the proceeds of a fresh issue are applied by a company in making any redemption or purchase of its own shares in addition to a payment from its capital under these provisions, the references to the permissible capital payment are to be read as referring to the total amount of that payment and those proceeds. The CRR is mainly used to ens... The CRR is mainly used to ensure that the company's capital is not reduced by the redemption of its shares. If the company was to redeem its shares, and the CRR was not used, then there would be a reduction in the company's capital in line with the reduction of the amount of shares redeemed. Although the CRR cannot be distributed out to shareholders by way of dividend in the same way that profits would be utilised, they would be available for issuing bonus issues of share capital should such a scenario arise. Accordingly, the CRR plays an important role in maintaining the value of the company, by both keeping shareholders of redeemable preference shares happy in allowing them to redeem their shares, while also keeping the other shareholders content as the value of the share capital in the company is maintained. This means that there shareholding will be in no way diminished as a result of the redemption. Revaluation Reserves Revaluation reserves arise when the value of an asset becomes greater than the value at which it was previously carried on the balance sheet, increasing shareholders funds.5 Not every increase in value is added to the revaluation reserve, and the exact treatment depends on the history of the asset. Revaluations are carried out when there is a material difference between the current market value of an asset and the value at which it is carried on the balance sheet. Revaluation reserves are not distributable, but may be used for scrip issues, where there is an issue of new shares to existing shareholders at no charge, pro rata to their existing shareholdings. A scrip issue is essentially when one shareholder moves their money from one account to another account belonging to the

The Use Of Performance Management In Hr Business Essay

The Use Of Performance Management In Hr Business Essay Performance management is a topic that cuts across traditional HRM boundaries, as it also has implications for employee development. Performance Management is seen as a dimension of employee resourcing and performance monitoring and review as part of the appraisal process. In many organisations, formal, systematic procedures are introduced to regularly assess employee performance, usually involving, at a minimum, an interview between a manager and an employee, with documentation of recorded performance. One major reform being undertaken in the public service is the development of a performance management system. Its primary aim is to improve performance by focusing on key areas of activity of the Ministry/department, teams and individuals through on agreed framework of planned goals, objectives and standards. 7.3 DEFINITIONS Noe et al. (2008) define performance management as the process trough which managers ensure that employees activities and outputs are congruent with the organisations goals. (This definition emphasises the need for performance management to be aligned to the strategy of the organisation). Performance management can be defined as a strategic and integrated approach to delivering sustained success to organisations by improving the performance of the people who work in them and by developing the capabilities of teams and individual contributors (Armstrong and Baron, 1998). 7.4 MEANING OF PERFORMANCE Bates Holton (1995) pointed that performance is a multi-dimensional construct, the measurement of which varies depending on a variety of factors. They also state that it is important to determine whether the measurement objective is to assess performance outcomes or behaviour. Kane (1996) argues that performance is something that the person leaves behind and that exists apart from the purpose. Bernadin et al. (1995) are concerned that performance should be defined as the outcomes of work because they provide the strongest linkage to the strategic goals of the organisation, customer satisfaction and economic contributions. The Oxford dictionary defines performance as the accomplishment, execution, carrying out, working out of anything ordered or undertaken. Performance is about doing the work as well as about the results achieved. Performance can therefore be regarded as behaviour the way in which organisations, teams and individuals, get the work done. Campbell (1990) believes that: Performance is behaviour and should be distinguished from the outcomes because they can be contaminated by system factors. For Brumbach (1988), performance means both behaviours and results. Behaviours emanate from the performer and transform performance from abstraction to action. Not just the instruments for results, behaviours are also outcomes in their own right the product of mental and physical effort applied to tasks and can be judged apart from results. From this definition, we can conclude that when managing the performance of teams, and individuals, both inputs (behaviour) and outputs (results) need to be considered. This is the so-called mixed model (Martle, 1995) of performance management which covers competency levels and achievements as well as objective setting and review. 7.5 PERFORMANCE APPRAISAL AND PERFORMANCE MANAGEMENT What, in your opinion, is the difference between Performance Appraisal and Performance Management? Noe et al (2008) emphasises that Performance Appraisal is only a component of Performance Management as it involves the administrative and relatively isolated duty of measuring aspects of an employees performance. Performance Management is a broader concept than Performance Appraisal in that it provides not only for the measurement of performance, but the defining of performance according to organisational goals as well as the provision of performance feedback. Performance Appraisal (Performance Measurement Specification of Performance Criteria Performance Feedback Performance Management (Noe et al, 2008) 7.6 FEEDBACK Feedback is a method of communication, usually face-to-face with another person where the desired outcome is normally: Improved work performance. A maintenance of performance. A change of behaviour. To make another person aware of ones behaviour upon others. Performance Management is strategic in the sense that it is concerned with the broader issues facing the business if it is to function effectively in its environment, and with the general direction in which it intends to go to achieve longer terms goals. It is integrated in four senses: Vertical integration linking or aligning business, team and individual objectives. Functional integration linking functional strategies in different parts of the business. HR integration linking different aspects of HRM, specially organisational development HR development and reward. The integration of individual needs with those of the organisation, as far as this is possible. Activity 1 (i) Differentiate between Performance Appraisal and Performance Management as you see it in the local context. (ii) Discuss the importance of feedback in the management of performance. 7.7 PURPOSE OF PERFORMANCE MANAGEMENT Performance Management is a means of getting better results from the organisation, teams and individuals by understanding and managing performance within an agreed framework of planned goals, standards and competence requirements. It is a process for establishing shared understanding about what is to be achieved, and an approach to managing and developing people in a way that increases the probability that it will be achieved in the short and long term. It is owned and driven by line management (Armstrong, 2001). Activity 2 (i) Based on your experience of performance management within the organisation in which you work, what do you think is the purpose of Performance Management? Performance Management has three essential purposes: Strategic purpose. Administrative purpose. Developmental purpose. Strategic purpose A Performance Management system serves to link employee performance to the overall organisational strategy and organisational objectives. However, research has shown that very few organisations utilise Performance Management in a manner which supports the strategy of the organisation. The strategic purpose may be achieved through designing evaluation mechanism which define employee performance in terms of organisations strategy and goals. Achievement of the organisations objectives. Increased productivity. Increased profit. Motivation of employees. Administrative purpose Performance Management systems provide information which assists organisations with administrative decisions relating to issues such as salary administration (pay rises), lay-offs and promotion (Noe et al, 2008: 348). Pay related pay (increment, bonus). Developmental purpose Performance Management systems provide information about employee strengths and weaknesses and in so doing, identify employee development needs (Noe et al, 2008: 348). Identify Training Needs Activity 3 (i) Discuss the purposes of performance management in your organisation. 7.8 APPROACHES TO PERFORMANCE MANAGEMENT Hereunder are the approaches to Performance Management: The comparative approach. The attribute approach. The behavioural approach. The results approach. The quality approach. The multi-rated approach. Note: The different approaches to Performance Management have their own strengths and weaknesses. 7.8.1 The Comparative Approach The comparative approach measures an individuals performance by comparing his/her performance to the performance of others. Three techniques adopt the comparative approach: Ranking : Supervisor ranking his subordinates from best performer to worst performer. Forced Distribution : Where employees are ranked in groups. 3) Paired Comparison : Where the supervisor compares every employee with every other employee in the work group, giving an employee a score of 1 every time he/she is considered to be the higher performer. Activity 4 (i) Discuss the comparative approach to Performance Management in your organisational context. 7.8.2 The Attribute Approach This approach focuses on the identification of employee attributes (knowledge, skills, attitude and experience) necessary for the organisations success. The employee is measured against these attributes. This approach includes techniques such as: Graphic Rating Scales : Where the supervisor rates the subordinate on particular traits and characteristics. Mixed Standard Scales : Where the supervisor rates the subordinate against relevant performance dimensions. Activity 5 (i) Describe the attribute approach to the Management of performance in your organisation. 7.8.3 The Behavioural Approach The behavioural approach defines behaviours necessary for effective performance in a particular job. In assessing performance, managers identify the extent to which a subordinate has exhibited the required behaviours. Example: (i) Behavioural Observation Scale. (ii) Assessment Centres. 7.8.4 The Results Approach This approach is based on the belief that results are the one best indicator of how a subordinates performance has contributed to organisational success. Results-based techniques include: Management by Objective (MBO) where goal setting is cascaded down throughout the organisation and the goals become the standard against which an employees performance is measured. Productivity Measurement and Evaluation System (PROMES) which involves a process of motivating employees to higher productivity. Balanced Score cards which may be used to manage the performance of individual employees, teams, business units as well as the organisation itself. The appraisal considers four related categories: Financial. Processes. Customer. Learning. The balanced score card enables managers to translate organisational goals into business unit, team and individual employee goals for each of the above categories. 7.8.5 The Quality Approach The focus of the quality approach is on improving customer satisfaction through a customer orientation and the prevention of errors. The design of a quality-based performance management system should focus on: The assessment of employee and system factors. The relationship between managers and employees in solving performance problems. Internal and external customers in setting standards and measuring performance. Using a number of sources to evaluate employee and system factors. Activity 6 (i) Enumerate the essential issues of quality based performance management system in relation to an organisation of your choice. 7.8.6 The Multi-Rated Approach Many organisations adopt a 360-degree feedback approach to performance measurement where information on an employees performance is not only provided by the employees immediate supervisor, but by those people whom he/she deals with on a day-to-day basis (eg. customers, co-workers, subordinates, suppliers, contractors, consultants). (Snell Bohlander, 2007: 343). This approach allows employees to receive an accurate view of their performance as different people see different things. (Snell Bohlander, 2007: 343). This approach usually involves the administration of a questionnaire to a number of people with whom the employee interacts, in which they indicate how well the employee performs in a number of behavioural areas. (Noe et al, 2008: 497). 7.8.6.1 Strengths of the 360-degree Feedback Approach As the employee is appraised from multiple perspectives, the approach is more comprehensive than other approaches. The information produced is of good quality. There is an emphasis on internal and external customers as well as the team. Bias and prejudice is lessened as the appraisal is not dependent on one persons view alone. Feedback from people other than the manager contributes considerably to an employees development. 7.8.6.2 Weaknesses of the 360-degree Feedback Approach It is a complex system in that numerous appraisals need to be combined. It can be intimidating, resulting in resentment on the part of the employee being appraised. Appraisals from different individuals may be different and confusing. Considerable training is required to ensure that the system works as it should. Employees could undermine the reliability of the approach through colluding in terms of the appraisal which they are to give each other. 7.9 SUMMARY [ In this Unit, the definition and meaning of Performance Management has been explained. The purpose of performance management has been enumerated. The approaches to performance management have been discussed in details.

Comparing A Streetcar Named Desire and The Glass Menagerie :: essays research papers

“A Streetcar Named Desire'; and “The Glass Menageries were written by Tennessee William in the late Thirties, where the depression made countless of people struggled in poverty. Both of the plays used the typical American family during the Thirties as the background setting. There were many similarities between the plays: including characters and events. Did Tennessee William write the same play twice? Or, did the plays each hold a different meaning underneath?   Ã‚  Ã‚  Ã‚  Ã‚  Before analyzing the two plays, we must first analyze the characters. Blanche Dubois in “A Streetcar Named Desire'; and Laura Wingfield in “The Glass Menageries'; have a lot of similarities throughout the two plays. Blanche and Laura are both living in a separate world from other people. Blanch is living in a world of fantasies, while Laura is living in her world with all the glass Menagerie. Blanche seeks for desires and fantasies only because she feels she murdered her husband. Laura lives in her world of glass animals only because of a disease that gives her a slight physical defect. They are mentally and physically crippled, and they want to use illusions to deceive other people. In P.117 Blanch said “I don’t want realism. I want magic! Yes, yes, magic! I try to give that to people. I misrepresent things to them. I don’t tell truth, I tell what ought to be truth.'; Laura does the same thing, where she deceives her mother. She lies to her mother about going to the Business Collage, just like Blanche lies to everyone else about her past.   Ã‚  Ã‚  Ã‚  Ã‚  In “The Glass Menagerie'; the unicorn represents Laura. She is different from all the others, and she would not be able to fit in with the others. She is too sensitive and shy, a very fragile being. Blanche in the play does not fit in with the rest of the people in the community either. She cannot tolerate the way husbands treat their wives in New Orleans, and she is shocked when Stella goes back with Standley after the Polka Night. The same thing happens to Eunice(Stella’s neighbor) a few scene after. In P. 63 Stella tells Blanche “You are making much too much fuss about this.'; And later says “it wasn’t anything as serious as you seem to take it.'; Blanche will never understand how, or why Stella would go back to Stanley because she doesn’t fit into their community, just like Laura will never fit into hers either.

Investment Management Essay

Both hedge funds and mutual funds are â€Å"pooled† instruments, but there are more differences than similarities between them. Three kinds of differences are going to introduce in the following part which are strategy, risk and reward. Strategy: The hedge funds managers have fewer limits to deal with, they can sell short, use derivatives and use leverage, and otherwise, they can also change the strategy significantly if they think it is appropriate. The mutual fund managers cannot be as flexible as hedge fund managers. In case they changes the strategy of the fund, the may be accused of â€Å"style drift†. Risk: As hedge funds are managed much more aggressive than the mutual fund, they can take speculative positions in derivative securities and have the ability to short sell stocks. This will obviously increase the leverage and the risk of the fund. Mutual funds are the opposite of the hedge funds, taking highly leveraged positions is not allowed and managers should take solid strategy to make the funds safe. Reward: Hedge funds take an aggressive strategy which has high risks to seek absolute returns (it means they want to produce positive return no matter what the market performance is). Mutual funds are managed relative to an index benchmark which means their return is steady because they are judged on their variance from that benchmark. 3. Arbitrage opportunity 3. 1 According to the case study, during the IPO of Ubid, there is only 20% equity offer to public, and remaining 80% will distribute to CC’s shareholders after 6 months. The arbitrage opportunity is appear because if we own CC’s share that we will receive Ubid’s share after six months. In that reason, we should form a portfolio which combines long position of CC and short position of Ubid. In Dec 9, there was 10,238,703 CC’s share outstanding and 9,146,883 Ubid’s share outstanding. However the 80% of Ubid’s share will distributed to CC’s shareholders after 6 month of IPO. In that reason, we can assume that 80% of Ubid’s share is subjected to CC’s share. (10,238,703? 80%)/9,146,883=0. 715 If we have long position on 1 share of CC, we should take 0. 715 short position of Ubid’s share. 3. 2 Based on the output in section 3. 1, the arbitrage opportunity has arise when we have 1 long position on CC’s share and 0. 15 short position on Ubid’s share. Therefore we need short sell the Ubid’s share and buy CC’s share. Assume that we buy 1 share of CC and short sell 0. 715 share of Ubid. After 6 months later. In addition, after 6 months, the 80% Ubid’s share will distribute to CC’s shareholders, therefore, after 6 months we have 1 share of CC will receive 0. 715 share of Ubid. Subject to 1 s hare of CC, we have 0. 715 share short position of Ubid. In that reason we will have a portfolio that combine 1 long position of CC and 0. 715 short position of Ubid. The total payoff of portfolio is sum of payoff in both position is: Price of CC after six month – price of CC + 0. 715? price of Ubid. As we mention before, our return is the total payoff of portfolio. According to the equation of payoff of portfolio, even the price of CC is drop to Zero, we also will generate positive return which is price difference between Ubid and CC, and this is our minimum return Price difference of Ubid and CC is 0. 715? 35. 6875-22. 75=2. 767 and the initial margin is 50% for long and short position, therefore the capital required is 50%? 2. 75+50%? 35. 6875=29. 22. The minimum rate of return is 4. Risks in arbitrage The arbitrage means that investors find temporary risk-free profit from misprice at inefficient market. Therefore, arbitrageurs will face risk lower than other investors. However, some of risks can limit arbitrageur to seek risk free profit. Firstly, arbitrageurs need to bear the fundamental risk. Although arbitrageurs can eliminate unsyst ematic (firm-specific) risk by portfolio diversification, they cannot mitigate systematic risk which arises from market contracture. This lead to some of bad news or policies can cause negative effects on fundament value and arbitrageurs’ profits. Thus, the fundamental risk can limit arbitrageurs to invest in inefficient market. Secondly, noise trader risk will limit arbitrage. High percentages of noise traders who make irrational investment of decision in market will lead price and risk level to be different with expected level for arbitrageurs, and cause misprice to be reduced. Thus the profit of arbitrage will be limit by noise trader risk. Finally, arbitrageurs will also face high implement cost. Implement cost includes commission, bid-ask spread, price impact, short sell cost and identification cost. High cost will cause arbitrageur loss interest on seeking misprice in inefficient market.

Bcom275 Legalization of Marijuana

Debate Paper Legalization of Marijuana Cannabis, also referred to as marijuana, is the third most popular recreational drug, behind only tobacco and alcohol, in the United States (Whitehouse. gov, 2013). Efforts to legalize marijuana as medicine and recreational use in the United States have grown exponentially in recent years. According to the Food and Drug Administration (FDA) marijuana may help decrease nausea, stimulate appetite, and decrease pain (2006). Alternately, the American Medical Association (AMA) does not support smoked marijuana as medicine (1995-2013).With such conflicting opinions around this highly controversial drug, there are many questions to be answered in order to decide the steps the federal government can/should be made for a final resolution. Argument For Nearly one in ten Americans used marijuana in 2010; however, our nation spends over seven billion per year to enforce the illegalization of this natural substance. A recent poll taken in 2011 shows marijuan a has increasingly become the preferred drug for Americans. Overall, 6. 9 percent, or 17. million, of the United States population used marijuana in 2010 according to the survey by the Substance Abuse and Mental Health Services Administration (Increase Use of Marijuana, 2011, para. 2). Dr. Jeffrey Miron, an economics professor at Harvard University, completed a study which determined the approximate cost of enforcing the illegalization of marijuana. The report estimates legalizing marijuana would save, â€Å"$7. 7 billion per year in government expenditure on enforcement of prohibition. $5. 3 billion of this savings would accrue to state and local governments, while $2. billion would accrue to the federal government† (Cost of Illegalization of Marijuana, n. d. ). The United States has been engaged in a losing battle against marijuana since the implementation of the Uniform Narcotic Act in the 1930's (Bonnie & Whitbread, n. d). We are not only wasting $7. 7 billion per year, b ut losing potential revenue. Americans could stand to profit a substantial amount of income if marijuana were to be legalized and regulated by the Department of Agriculture. â€Å"Revenue from taxation of marijuana sales would range from $2. billion per year if marijuana were taxed like ordinary consumer goods to $6. 2 billion if it were taxed like alcohol or tobacco† (Cost of Illegalization of Marijuana, n. d. ). Marijuana is not addictive and has a stark contrast of addictive properties when pitted against the addictive characteristics of legalized tobacco and alcohol. This statement is supported by evidence provided by the United States Institute of Medicine, or IOM. The IOM states â€Å"fewer than one in 10 marijuana smokers become regular users of the drug, and most voluntary cease their use after 34 years of age.By comparison, 15 percent of alcohol consumers and 32 percent of tobacco smokers exhibit symptoms of drug dependence† (Supporting evidence, n. d. , para. 2). The IOM also observed cannabis withdrawal symptoms are rare and do not require substitution medicine to stop usage. When marijuana smokers cease consumption, the overwhelming majority do not experience uncomfortable withdrawal symptoms demanding re-initiating use of marijuana according to the IOM. President Richard Nixon commissioned the National Commission on Marijuana and Drug Abuse in 1972.The primary objective the commission was to expose dangers of drug use and provide a detailed report on marijuana. Nixon's commission issued a report titled, â€Å"Marijuana: A Signal of Misunderstanding,† which reviewed existing marijuana studies and determined marijuana does not cause physical addiction (National Commission on Marijuana, 1974). Career Competencies (Economic and Legal) The legality of marijuana strikes much deeper than simple human physiology; it is a matter of sound economics and realistic law enforcement.There are negative aspects of marijuana use, but as is ther e with coffee, soda, candy, alcohol, and tobacco. Americans need to revaluate old rhetoric where marijuana was deemed evil and a gateway drug. The only reason marijuana could be considered a gateway drug is because often time’s consumers are exposed to shady drug dealers on a substance deemed as illegal. If Americans opened their eyes and minds to see how much money and effort is wasted to fight a losing battle become aware of how much could be profited from the legalization of marijuana the decision is straightforward; marijuana should be legalized.Argument Against Contrary to popular belief, marijuana is addictive, and can lead to other health problems such as; lung cancer, low sexual drive (libido), and of utmost importance is to address the concern of marijuana as a â€Å"gateway† drug. Addiction has been redefined and continually evolving for decades. Whether a given substance is defined as â€Å"addictive† in a given society or culture, has to do largely w ith social custom and political convenience. Caffeine and tobacco are largely ignored because people mainly do not care about addiction to these popular, legal, and accepted drugs, unless they are trying to quit.According to the American Psychological Association, APA, addiction â€Å"is a condition in which the body must have a drug to avoid physical and psychological withdrawal symptoms† (2013). Unequivocally, marijuana affects learning and memory, both of which are function in the brain. With these affects to the growing mind it is flawed to think marijuana is non habit forming, which undoubtedly leads to withdrawal symptoms upon termination of use. Marijuana is sex-inhibiting. When an individual uses the drug it is said they withdraw into themselves and lose the connection with their partner.Research into this phenomenon dates back to the 1970’s in which one report showed it reduces testosterone enough to impair the libido in many women and in some men. According t o this research, some of the responses included: â€Å"My boyfriend and I have smoked (fairly heavily) for the past year and I would say that it 100% has a terrible effect on our sex life. It’s been a huge libido killer for our relationship†; â€Å"As I’ve continued to use marijuana (been almost five years smoking now) it’s inhibited sex for me more and more† (Castleman, 2012).Furthermore, there is scientific evidence to support that long-term marijuana smoking alters the reproductive system. The gateway theory postulates the use of less harmful drugs (such as marijuana) may lead to future risk of using more dangerous hard drugs. To test this theory a group of researchers in Sweden administered rats the equivalent of the THC (the chemical found in marijuana delivering the â€Å"high†) in one joint to lab rats.After this administration of THC the rats were allowed access to heroin by pressing a lever. According to this study, the rats who wer e administered the THC took larger doses of heroin than the rats who did not receive the THC injection (Ellgren, 2007). Upon inspection of the rat’s brain, it was discovered the brain cells associated with positive emotions were altered by the THC dosage, thus lending the need for higher drive for more heroin than those without the THC.Ethical Issues More research is needed in order to legislate the use of marijuana. Contemporary medicine and pharmacology are based upon the application of scientific principles and extensive clinical research to determine the safety and efficacy of a drug. Marinol, a synthetic version of the naturally occurring component of marijuana, is a well accepted, well researched, and more effective treatment than marijuana (Kraus, 2007).This approved drug, like marijuana, helps alleviate chronic pain, reduces chemotherapy-related nausea, and with HIV/AIDS treatment it helps with symptoms known as â€Å"wasting syndrome†. Many proponents of legal izing marijuana for these specific illnesses have not looked into marinol as a safe alternative. As a matter of fact the only difference between marinol and marijuana is that marinol does not stimulate the â€Å"high† associated with marijuana. Career Competencies (Psychology) Psychologists from all over the United States attest to the negative effects of cannabis.According to the Diagnostic and Statistical Manual of Mental Disorders (DSM) a cannabis user can develop; cannabis intoxication- development of maladaptive behavior that developed shortly after or during cannabis use; cannabis intoxication delirium- a disturbance of consciousness with reduced ability to focus, sustain, or shift attention; cannabis-induced psychotic disorder, with delusions- prominent hallucinations or delusions in excess of those usually associated with the intoxication; and cannabis-induced anxiety disorder- prominent anxiety, panic attacks, or obsessions or compulsions that causes significant dist ress or impairment in social, occupational, or other important areas of functioning American Psychiatric Association, (2000).The DSM has other classifications for cannabis use; however the mental disturbances highlighted promote the more severe effects of continued marijuana use. Conclusion Marijuana has the reputation of being a gateway drug, although not every heroin addict started out smoking marijuana. Marijuana is prohibited and it puts individuals in circumstances where they are exposed to harder drugs, therefore if the FDA had regulations on marijuana, those individuals would never have to be exposed to those situations. In regards to the effects of marijuana, like a low sex drive, just like every medication whether it is over the counter or prescribed, there will be side effects which will affect everyone differently. Marijuana has the ability to alleviate aliments such as nausea, and other types of pain.Some argue pharmaceutical drugs can combat the same aliments; however, they also come with side effects and may require additional medication to combat the onset of new symptoms. Taxation of marijuana alone would help the economy. The fact the U. S. is wasting 7. 7 billion dollars enforcing the prohibition of the substance is persuasive enough in its self, as well as the potential revenue brought in by taxing the substance like tobacco or alcohol. Keeping marijuana illegal is only keeping drug dealers in business. While law enforcement continues to chase these petty drug dealers it is costing our taxpayers millions of dollars to put and keep drug dealers behind bars.The legalizing of marijuana would benefit the economy greatly, therefor marijuana should be legalized. The use of Marijuana and Cultural difference between Japan and The United States The history of Cannabis in the country of Japan can be traced back to 300 – 500 BC. Cannabis was a widely used plant for the majority of Japanese culture and daily lives. Cannabis fibers were used to no t only create baskets and fishing tools, but were also used in creating divine clothing for the Emperor’s. Burning of cannabis was also used for old traditions, for example rooms of worship were purified by burning cannabis leave by the entrance. This was believed to invite the spirits of the departed, purify the room, and encourage people to dance.Japan’s cultivation of Cannabis came to a halt at the end of World War II when allied forces occupied and began to help rebuild Japan. It was America General Douglas MacArthur and his colleagues who re-wrote the Japanese constitution in 1948 and mirrored many of the United States laws. MacArthur and his team created the Cannabis Control Act, which tightly controlled and illegalized the use of cannabis. Due to the extreme cultivating of cannabis and its widely uses in daily lives, Western companies found a market with providing synthetic products to replace cannabis. Today, cannabis is a drug guarded and considered taboo amon g the Japanese culture.The use and history of cannabis is all but forgotten within today’s Japanese society, and when it is discovered people have, or are using it recreationally, they are shunned and casted as â€Å"stone-cold drug addicts† (Uno, 2011). Many Japanese people consider marijuana and other ‘hard drugs’ to be the exact same and believe all drugs have the same effect. This ideal thinking of marijuana has lead Japan to be one of the strictest laws and punishments compared to other developed countries. In 1993 a Disc Jockey from New York, Christopher Lavinger, was arrested and was sentenced to 16 months in prison and 35 days in solitary confinement after Japanese police found 1. 5 grams of marijuana, 3. 5 grams of cocaine, and some LSD (Hays, 2009). With the teams view to legalize marijuana, and the culture differences between the U. S. nd Japan, the first step to move towards a ‘Pro-Marijuana’ Japanese country would be to educate th e people on the benefits cannabis can provide. As described above, the financial profit gained would be tremendous and can go back to the people in various ways. The people would also need education on their history of using cannabis within their ancient traditions and target many high-profile figures to support the use of marijuana. Because of the strict laws and taboo views Japan has of cannabis, it would be a hard road, but the understanding and education used properly, Japan could create legislation that would override, or amend their constitution and current laws banning its use. References American Medical Association (AMA). (1995-2013). Retrieved from http://www. ama-assn. rg/ American Psychiatric Association, (2000). Diagnostic and statistical manual of mental disorder (4th ed. ). American Psychological Association (APA). (2013). Retrieved from http://www. apa. org/topics/addiction/index. aspx Argument: Marijuana is not addictive. (n. d. ). Retrieved March 24, 2013, from htt p://dbp. idebate. org/en/index. php/Argument:_Marijuana_is_not_addictive Bonnie, R. , & Whitbread, C. (n. d). The Forbidden Fruit and the Tree of Knowledge: An Inquiry into the Legal History of Historian of American Marijuana Prohibition. Schaffer Library of Drug Policy. Retrieved from http://www. druglibrary. org/schaffer/Library/studies/vlr/vlr3. htm Castleman, Michael. Marijuana's Effects on Sex Vary with Individuals. † Marijuana. Ed. Noah Berlatsky. Detroit: Greenhaven Press, 2012. Opposing Viewpoints. Rpt. from â€Å"Marijuana and Sex: Surprising Results of This Blogger's Informal Survey. † Psychology Today (1 May 2011). Opposing Viewpoints In Context. Web. 8 Mar. 2013. Ellgren, Maria. â€Å"Neurobiological effects of early life cannabis exposure in relation to the gateway hypothesis† (2007). Retrieved from http://publications. ki. se/xmlui/handle/10616/38245? locale-attribute=en Food and Drug Administration (FDA). (2006). Retrieved from http://www. fda. gov /NewsEvents/Newsroom/PressAnnouncements/2006/ucm108643. htm Hays, J. (2009).Marijuana, Legal Highs and Illegal drugs in Japan. Retrieved from http://factsanddetails. com/japan. php? itemid=664 Kraus, Mark L. â€Å"Legalizing Medical Marijuana Is Not a Good Idea. † Medical Marijuana. Ed. Noel Merino. Detroit: Greenhaven Press, 2011. Current Controversies. Rpt. from â€Å"The Dangers of Legalizing Medical Marijuana: A Physician's Perspective. † 2007. Opposing Viewpoints In Context. Web. 22 Mar. 2013. Marijuana use rising in U. S. , national survey shows. (2011). Retrieved March 24, 2013, from http://www. reuters. com/article/2011/09/08/usa-drugs-idUSN1E7870N520110908 Olson, D. (1998). Hempen cultrue in Japan. Retrieved from http://www. cannabisculture. om/articles/101. html/ Stirring the Pot: Could Legalizing Marijuana Save the Economy?. (2013). Retrieved from http://www. forbes. com/sites/kellyphillipserb/2012/04/20/stirring-the-pot-could-legalizing-marijuana-save-the-e conomy/ The first report of the National Commission on marihuana (1972): signal of misunderstanding or exercise in ambiguity. (1974). Retrieved from http://www. ncbi. nlm. nih. gov/pmc/articles/PMC1749335/ The White House President Barak Obama. (2013). Retrieved from http://m. whitehouse. gov/ondcp/marijuana Uno, M. (2011). WEED CRISIS: Enter Japan's Void. Retrieved from http://www. thestarklife. com/2011/06/17/weed-in-japan/

Compare and Contrast the Glorious Revolution and the America essays

Compare and Contrast the Glorious Revolution and the America essays What were the worldwide effects on the political expectations for self-government and individual liberty after the American Revolution and the Glorious Revolution? I believe that the American Revolution was not a fair war because the British had a huge advantage. The British had a bigger and better army, while the Americans had almost nothing. The Americans were inexperienced and were mainly comprised of farmers fighting for independence. Even though the Americans had some soldiers willing to fight, the Americans were unable to pay the soldiers enough money to fight a war and they did not have enough food, supplies, guns, ammunition, and war ships. I believe that the Glorious Revolution ended up the way that it did because the people did not like James II and did not agree with the things that he wanted to do while in power.The Glorious Revolution was fought while James II was king because he made some decisions that the people did not like. One reason why England did not like James II was because he wanted to convert the religious beliefs of the thoroughly Protestant England to a Catholic religion. The people did not agree to many of his ideas. Even though James was able to create a very strong army, he was not able to conquer other lands and gain the respect of his men. While they were at war his army abandoned James II to fight for other sides. After James was left by his men, Parliament claimed that he had abandoned his country and went into exile in France. On February 6, 1689, James II was succeeded by William of Orange as the new King and his wife, Mary, James IIs daughter, became Queen of England. A few months later, James II decided that he wanted to come back to England to try and regain the throne, but failed along with his son and grandson who also tried to assume their line for the throne. Now the American Revolution was a war whose main purpose was for the Americans to escape from England&ap...

Australian Criminal Law Essay Example | Topics and Well Written Essays - 2500 words

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American Political Parties Research Paper Example | Topics and Well Written Essays - 500 words - 1

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