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

MENTAL HEALTH - Research Paper Example However, the elder patients are believed to view and imagine nursing staff as their own daughters. In developed nations relationships among children and parents have significantly deteriorated and therefore, elders are becoming lonely and depressed (Werner, 1993). Nevertheless, all patients from different age groups are famous for practically loving their medical staff. But, in case of children, the job of nurses gets tough and challenging because psychologically, one has to become a child in order to play with a junior and because of this reason, it is recommended in multiple studies that nurses with a special kind of personality should be assigned to the children ward. Most of the nurses are notorious for having rude and rough behaviors because they are living under such level of emotional and psychological stress that they become unstable to say the least. But, again when it comes to treating children nurses are supposed to transform healing into a game so that the childrenâ€℠¢s fear can be circumvented (Swanson & Wojnar, 2004). The hospitals are providing a colorful environment for children where there are paintings of famous cartoon characters on the walls and the patients have the facility to play and engage in positive activities such as playing music and listening and watching television. The children are fighters because their bodies have been known to perform at peak proficiencies and therefore, they are not mentally aware and neither they are willing to accept their illnesses (Altimier, 2004). Both of the previously mentioned factors have the power to expedite healing process. The challenge lies in providing a proper reinforcing environment where the belief of a child can become a reality (Pesek, Helton, & Nair, 2006). Still, the nurses must be informed that elders and children heal in two very different ways. The former ones heal with the help of a listener while the latter group wants a companion, a friend, and a player. The nurses then, must a llow the elders to share their experiences and should also provide a silent ear. The hospitals of the 21st century are transforming into community centers because they are taking up the roles of facilities that are helping in bridging the gaps between elders and children (Langsley & Barter, 1983). Quite a significant number of facilities are providing elders with an opportunity to share their life’s experiences with the next generation. The needs of both groups are fulfilled in this fashion because the elders have a profound need to share their knowledge whereas the children’s need to listen bedtime stories from their grandparents is satisfied as well (Doty, 1986). The nursing profession was developed and flourished as a means of assisting the physicians in the terms of devising an effective and efficient way of treating the illness (Bakken, Cashen, Mendonca, O'Brien, & Zieniewicz, 2000). But, according to the literature of modern healthcare, most of the physical disea ses are just manifestation of psychological problems and diseases and therefore, it is highly recommended to cure both dimensions of the illnesses simultaneously (Weatherhead, 1951). Furthermore, the children are by-default positive thinkers but transform into a hopeless individual due to the environment and because of this reason, the hospitals are repeatedly suggested to create and foster

Informative Synthesis Essay Example | Topics and Well Written Essays - 1500 words

Informative Synthesis - Essay Example However, the anticipated environmental concerns and possible health and life threatening effects are consistently increasing the international organizations’ condemnation on the eminent nuclear energy in Iran. Indeed, the nuclear reactors tragedy in Fukushima Japan brought severe and lifetime effects that proved to be dangerous and inevitable (Greenpeace 1). However, the significance of this critical subject hails from the fact that the host nation is a minority nation with more economical interests than human or global security concerns. Iran is indeed not in any way ready to compromise its quest in this project. Actually, the urge to make their dream for a nuclear source of energy has only grown more real. Additionally, Iran has been concealing a ploy to develop uranium enrichment in its territories. Indeed, Iran produced 215 billion kWh gross in 2008 generating a per capita consumption of about 2000 kWh/yr. Out of these production, 80% of its electricity was from gas and 16 .5% from oil. In fact, the nuclear energy reactor started up in Iran on 8 May 2011 through September 2011 after many years of construction and many consistent efforts against ever increasing international opposition. With 75 % production capacity realized in March, the prospects of the project oversee the project entering commercial operation about April 2012 (World Nuclear Association 1). Subject to these developments, the international organizations like the UN Security council and international governments like the US institute sanctions, trade barriers, and diplomatic withdrawals against Iran with a hope of convincing or even coercing Iran to compromise on its pursuit for Nuclear energy (UN Security council 1-12). However, despite the stringent terms, Iran has not shown any signs of giving in to international pressure where they prioritize their economic interests on nuclear energy before international interests. This puts to question the mode of decision-making that Iranian lea dership adopts on matters of global concern like the nuclear energy. The significance of international pressure on nuclear energy in Iran is a relevant issue on the University of Alabama student. I addressing this topic, I will focus on opinion articles, "Only Crippling Sanctions Will Stop Iran" of March 2, 2012 by Emanuele Ottolenghi and "Starving Iran Won't Free It† March 2, 2012  by Hooman Majd. The article, "Only Crippling Sanctions Will Stop Iran" of March 2, 2012 by Emanuele Ottolenghi is however more effective in that it draws the history of important Iranian decisions, how Iranians value sanctions, what drives the Iranians to change and the respect accorded to the Iranian government by the Iranians. This will help in analyzing the effect of the international sanctions against nuclear energy in Iran. Emanuele holds the opinion that the western allies assume that Iran’s leaders are rational actors, and rely on cost-benefit analyses to reach important decision (O ttolenghi 1). Hence, they assume that their continued gradual increase in the costs of Iran’s nuclear pursuit will lead to Tehran concession in the current nuclear standoff between the western decision makers and the Iranian decision makers. They expect the Iranian decision makers to behave rationally agree to a compromise and ignore Iran’s perspective on costs already incurred, the price of completing the journey and the advantages of turning back subject to the continued international pressure (Ottolenghi 1). The Iranian decision makers do not necessarily behave as assumed by the Western decision makers. History shows that the Iran’s decision makers are impervious to cost-benefit analysis and have never been isolationists. Hooman recognizes the fact that coercion, sanctions or exiles and their enablers

Global Macroeconomic Imbalances And The Financial Crisis

Global Macroeconomic Imbalances And The Financial Crisis The world experienced the global financial crisis between 2007 and 2008. This crisis led to the threat of collapse of mane large financial institutions, down turns of major financial market in the world and bailouts of banks by difference governments in the world. One of the areas that suffered most from the effects of the global financial crisis was the real estate sector, which most argue that it must have also contributed to the crisis. This crisis also played a significant role in the failure of many key businesses around the world. One of the consequences of these business failures was the rise of high rate of unemployment around the globe. It also contributed to the decline in consumers wealth and the down turn in economic activities around the globe, which eventually led to the global recession between 2008 and 2012. Other negative effects of the global financial crisis include the rise of the European sovereign debt crisis and liquidity challenges experienced from 2007 (Obstf eld and Rogoff 2009). Many reasons have been suggested as the main contributors to the global financial crisis. Some of these reasons include the existence of easy credit conditions in the global financial markets, growth of the housing bubble in the United States of America, predatory lending, over leverage, and incorrect pricing of risks among others (Ferguson and Schularick 2009). Although many controversies remain about the role of the global imbalances on global financial crisis, it is clear that there exists a connection between the two. Those who are against the idea of the role that global imbalances played towards global financial meltdown argue that external pressure could not have played any role in the crisis. The reason they give as the main cause of the financial crisis was the failure of financial regulators to effectively control financial institutions and markets in the United States of America and globally. They also argue that policy errors could also have played a significant role in t he crisis. However, those who support the view that global financial imbalances could have played a role in the global financial crisis suggest various mechanisms through which global imbalances could have had a significant role in causing the collapse of the financial system in the world. Some of these mechanisms include the high savings of china, oil exporters and other surplus countries, which depressed real interest rates globally. The depressed global real interest rate is thought to have led investors to scramble for yield and to under price the risk. The connection between the global imbalance and the global financial crisis may also have originated from economic policies employed in a number of countries globally before the crisis. There was also the existence of distortions that played a role in the transmission of these economic policies through the United States of America and finally through the global financial markets (Ferguson and Schularick 2009). United state of America policies contributed immensely to the crisis. This country had the ability to finance her macroeconomic imbalances from easy foreign borrowing. As a result of this, the country failed to come up with tough policy measures that could have prevented the crisis. This was also the same case with other major countries that experienced deficit before the crisis. One of the alternatives source sought by the United States of America to finance her deficit was foreign banks, which provided a ready source of external funding. The main source of motivation for these foreign banks was their high appetite for assets. Prior to this period, the United States of America employed loose monetary policies, which allowed the country to borrow in dollars at low nominal interest rates. These policies also created an environment in which the asset-price movement and the exchange rate kept United States of America foreign liabilities growing at a rate that was far below its cumulative current account deficit. The case of the United States of America was similar to what was experienced in many other countries around the globe, which had current account deficit prior to the global financial crisis (Ferguson and Schularick 2009). Countries with current account surpluses on the other hand, faced minimal pressures to adjust. For instance, China was able to maintain an undervalued currency and therefore, defer to rebalance its own economy due to its ability to sterilize the immense reserve purchases,which it placed in the United States of Americas markets. Therefore, complementary policy distortions kept United States of America artificially far from her higher autarky interest rates and China artificially far from her lower autarky interest rates. It was possible therefore, to either contain or mitigate the global financial crises had low-cost postponement options not been available. The action of china to undervalue her currency may have also played a significant role in the global financial crisis that followed in between 2007 and 2008. This together with the undervaluation of the exchange rate contributed to the global imbalances (Obstfeld and Rogoff 2009). Therefore, it is clear that external imbalance were a reflection of internal imbalances in many countries. The connection between the global imbalances and the exchange rate undervaluation means that the problem could not be resolved automatically without involvement of significant exchange rate adjustments. The labor rate in china prior to the global financial crisis was far below the countrys Gross Domestic Product (GDP). Cheap relative production costs in China supported the profitability and investment in manufacturing industry. The loss of competitiveness in this country was avoided through the availability of excess labor or organized wage restraint (Ferguson and Schularick 2009). China employed policies that were aimed at promoting export-led industrialization. The policy of real exchange rate undervaluation and reserve accumulation in China could not automatically be collected by inflation due to the pervasive role of the state in the countrys financial sector, large supply o f surplus labor and the effectiveness of capital control. All this created an environment that enabled china to accumulate massive reserves of foreign currency as well as create current account surplus. This action of the Chinese country may have contributed to the global financial crisis experienced in 2008. According to Ben Bernanke, the Chairman of the Federal Reserve, a saving glut in the Asian economy as well as other exporting countries is primarily responsible for the current pattern of global macroeconomic imbalances. In providing support for his argument, Ben argues that the Asian turbulence of 1996 formed the genesis of the global imbalance. He points at Thailand which had for a long time maintained a fixed exchange rate of her currency against the United States of Americas dollar. However, there was a rapid credit expansion in the Asian countries, which fuelled bubble in stocks and real estates (Obstfeld and Rogoff 2009). This credit expansion took place within the liberalized financial system. In Thailand, the current account deficit reached about 8 percent of the countrys GDP as the rising prices of assets reversed the course. The country also experienced a fierce speculation of currency which led to the breaking up of the countrys currency peg against the dollar. This crisis was contagiously transmitted to other countries in Asia, many of which seemed healthier fundamentally than Thailand. Under this pressure, the Asian banking system faced financial crisis. To avoid eventual collapse of the banking system, most of those countries that faced the crisis turned to the international monetary fund for assistance. The conditions placed by the international monetary fund as the requirement for financial assistance left bitter memories in these countries (Ferguson and Schularick 2009). Afterwards, the developing countries as well as the newly developed countries in the Asian world went into surplus although most of them had weaker currencies than before the crisis. The dissipation of the recessionary effects in the Asian countries and the boom of dot com led to the rise of commodity prices globally. This further helped to generate surpluses for the oil producing countries in the Middle East and the commonwealth of independent countries. The case was different in the advanced countries which operated on the current account deficit. For instance, the United States of America ran on a deficit of about 4.3 percent in 2000. There was persistent growth of surpluses in the Asian countries and the oil producing countries. However, in this newly industrialized Asia, the gross savings did not change substantially after the crisis although there was a considerable decline in the investment. In contrast, the savings in the developing Asian countries initially returned to the same level as before the crisis. This was followed by rapid growth in savings which peaked at about 47 percent of the GDP (Obstfeld and Rogoff 2009). The case was the same as far as gr oss investment was concerned. The investment returned to the pre-crisis level and then rose significantly thereafter. These current account surpluses were supported by the exchange rate policies, which tended to maintain rates at competitive levels different from what was the case in the pre-crisis period. Foreign exchange intervention policy in Asian countries was motivated by the need to pursue export-led strategies for maintenance of high economic growth rates. There was also the need to accumulate substantial stock of international reserves as a buffer against future financial crises. This was considered to be necessary in order to avoid a possible future dependence on International Monetary Fund. Therefore, some countries such as Saudi Arabia maintained pegs to the United States of Americas dollar. This further helped in the growth of the global imbalance that finally was responsible for the global financial crisis in 2008 (Ferguson and Schularick 2009). Further, these countries devalued their currencies against the United State of Americas dollar. Therefore, these countries remained at depreciated levels compare to the period prior to the crisis. The intervention policies by the Asian countries were responsible for the rapid growth of international reserves in these countries (Obstfeld and Rogoff 2009). Another factor that may have contributed to the global imbalance and eventually the global financial crisis was the speculation against the overvaluation of the dollar during the closing years of Bretton Wood System. This speculation led to the growth in international reserves and the high global inflation that followed thereafter. The reserve growth in the United States of America also led to the increase in the prices of commodities, housing and other assets in the country and other countries. The Chinese reserve accumulation outstripped even the growing current account surplus. The balance of payment surpluses was further augmented by the strong inward of Foreign Direct Investment (FDI). Therefore, economic policies and market developments played a significant role in the generation of current account surpluses (Ferguson and Schularick 2009). This in turn led to rapid accumulation of private and public claims on industrial countries especially the United States of America. According to Bernanke, the outward shift of emerging market saving schedules was the principle cause of expansion of the United States of Americas deficit starting in the 1990s. This global saving glut led to the worldwide asset price adjustments, which induced a number of advanced economies such as the United States of America to borrow m ore heavily from foreign sources. Other economic factors that contributed to the global financial crisis include equity prices. United States of America experienced heavy capital inflow from emerging market savers. This led to a large appreciation of the stock prices and the value of the dollar. This implied wealth and international competitiveness effects and a large deficit in the United States of Americas current account. Saving in the United States of America was further discouraged by the expectations of the rapid future productivity growth. These expectations encouraged investment. Another factor behind the global financial crisis was the falling real interest rates in the United States of America and other advanced economies (Ferguson and Schularick 2009). This low rate of interest contributed to the decline in savings. There was also the fall of long-term interest rates which brought down the mortgage rates in the United States of America and other countries in the world. Allan Taylor in his article The Financial Rebalancing Act argues that even without any government intervention, these global imbalances are likely to stop increasing at the same pace and may even decease. He further argues that the economists and the policy makers risk fighting the last battle even as a new post crisis economy emerges with its own set of challenges. According to him, this will happen as a result of emphasizing the importance of these imbalances. For the long-term solution to the imbalances, the view of Taylor is correct. Imbalances will create counterparts conditions in different countries which will eventually bring this countries current accounts into equilibrium(Taylor 2011). For instance, one factor that has led to the global imbalance is the devaluation of currencies by some countries. This policy has enabled countries that follow such policies to create current account surpluses. It has also contributed to huge capital investment in countries with current account deficit. In the long term, the interest rate in the deficit countries will cease to be attractive and therefore, discourage further foreign investment. The low demand for dollar as a result of this will lead to the depreciation of the dollar relative to the currencies used by the surplus countries(Taylor 2011). This will lead to the reduction in the level of surplus and the deficit in respective countries. Some of the policies that countries can employ to correct global deficit include reorientation and coordination of fiscal policies, addressing financial markets instabilities, alignment of macroeconomic and structural policies for sustainable development and dealing with job crises through g lobal rebalancing. The EURO Crisis Economic crisis has on numerous occasions hit the world and the factors that have contributed to the crisis either directly or indirectly. It is worth noting that financial crisis is as a result of a combination of complex factors which include internal trade imbalances, high risk lending as well as borrowing among others. However, one of the financial crisis that shocked the EUROZONE and has had profound impact is the EUROZONE crisis; various scholars as such have come forth with different schools of thoughts concerning the crisis. One such scholar is Martin Feldstein argues that the current crisis of the European single currency was an accident waiting to happen. To him he argued that the development of such economic structure was a ruthless, politically motivated experiment. Similarly the present problems facing member countries as a result of leaving country-specific economic policies and individual exchange rates were predictable by economists politicians chose to ignore them (Feldstein, 2010). The paper will give the views of the researcher whether he agrees or not with Martin Feldstein argument. In doing so, the researcher will critically look into arguments for and against adopting a single currency economy. Additionally the major factors deemed to be responsible for the crisis of confidence in the EURZONE. Martin Feldstein argument and my views With regards to EUROZONE crisis Martin Feldstein strongly believed that indeed the adoption of a single currency was an accident waiting to happen. The unpleasant cost of adopting a single currency on a incongruent group of countries were at first concealed by the short-run advantages that the weakest countries enjoyed when they adopted the euro in 1999 and by the favorable global economic conditions that prevailed until 2008 (Feldstein, 2010). In order to support or refute the claim, it is important to first examine the pros and cons of adopting a single currency economic structure. However it is important to understand the beginning of the crisis. The crisis in the zone started immediately the financial markets lost confidence in the creditworthiness of Greece and other periphery countries; this resulted in interest rates on government bonds going higher to levels that compelled the affected governments to ask for bailouts from international community, the European Community and th e IMF. EUROZONE adopted single currency back in 1999 with the aim of empowering the member countries economically as well as politically. This is after the region tracked greater financial integration since 1957. There are two main categories of the advantages that come with the adoption of a single currency in the EUROZONE both leading to gains in economic efficiency. One important importance of such a concept is that the transaction cost will be eliminated. Usually transaction costs are manifested in several ways for instance fixed commission as well as the spread between the buying and selling prices of any given currencies. It is worth noting that for the member countries which operate business with others in the same region, then the currency conversion cost is done away with for the member countries which are vital for both individuals as well as firms doing business with foreign partners (Rose Wincoop, 2001). On the same note a single currency ensures that there is a ground to compare prices, making price differences more noticeable as well as equalization across the borders. Scholars in the field of economy have held that the absence of transaction costs as well as transparency in prices creates a deep and more integrated financial market. This type of integration makes it possible for member countries to have various channels used to share risks. For instance when a member country is hit by negative shock, firms definitely make losses which result in lowered stock prices, on the other hand when there is an economic boom in a another country, the stocks of firms in that country will go up contributing to profit making investors from the country hit by negative shock a new lease of life. Thus single currency allows country to share the risks of negative shocks. It has been argued that the justification for adopting single currency in EUROZONE is to avert the negative effects of exchanges rates. There is no doubt that uncertainty in changes in exchange rates hinders the flow of trade as well as investments. Thus in situations where business people are faced with trade opportunities or investment, they will be more attracted to countries where the risks of currency and interest rate changes are minimal(Artis, Hennessy Weber, 2000). However Feldstein, 2010 argued that a common currency means that every EUROZONE country has the same exchange rate, stopping the natural rate of adjustments that maintain national competitiveness when there are different trends in productivity and demand. As such he posits that this denies some countries the opportunity to raise the real incomes of her employees. In fact this is what EUROZONE is trying to discourage a scenario where some countries are extremely richer than others. Despite the advantages mentioned above, single currency has a number of disadvantages. First the system brings costs to firms, individuals and other institutions to adjust to the new currency. Usually these parties have to incur huge costs in changing the invoices, price lists, office forms, payrolls, databases, bank accounts, and meters for postage as well as parking among other things (Rose Wincoop, 2001). For countries which had weaker financially, they have to engage in excessive borrowing in order to carter for these expenditures. This as explained by economists is a recipe for economic crisis (Artis, Hennessy Weber, 2000). Secondly single currency economy means that there is no national monetary policy which has been a vital tool for states to adjust the economic equilibrium in situations where it faces economic shock. Usually economic shocks are unpredictable and unexpected and it characterized with disparity in production, consumption, investment as well as government expenditure (Feldstein, 2010). Factors responsible for the current crisis of confidence in the EURO zone There are a number of factors that played substantial role leading to the present crisis of confidence in the EUROZONE. Top on the list the inability of the government to service their debts. The debts resulted in heavy government spending and the desire to help those countries in problem to get out of the economic crisis. A typical example is Greece who received numerous loans for the purposes of bailing itself out of the economic crisis. However it emerged that the country was unable to service their debts (Rose Wincoop, 2001). Similarly other countries such as Italy and Portugal accrued debts at very high levels making them unable to successfully service their loans. Additionally member countries such as Spain found it difficult to roll-over maturity debt, this coupled with the fact that it was not possible for EUROZONE member countries to raise enough financial resource to rescue member countries such as Italy and Spain was too large contributed to the confident crisis in the reg ion (Yifu, L. Treichel, 2012). More importantly financial deregulation and liberalization contributed to the confident crisis. These two concepts enhanced the creation of new financial instruments as well as derivatives which made banks in member countries to raise leverage and to boost funds to be loaned. This in the end spurred a real estate as well as expenditure explosion (YifuTreichel, 2012). Similarly another contributor to the consumption bang is the single currency which eliminated currency risk by allowing the interest rates to be lower. The two concepts as well as the decline in interest rates led to increased inflows of money from core fall in interest rates contributed to large inflows of capital from core countries into periphery countries resulting in housing bubbles and surplus consumption. Conclusion From the review the paper has critically looked into the assumption that the adoption of a single currency is to blame for the recent EUROZONE crisis. However, looking at the advantages and disadvantages of the economic structure I beg to disagree with Martin Feldstein views that the current crisis of the European single currency was an accident waiting to happen. To my understanding, a host of factors contribute to financial crisis and it is wrong to lay blame on a single currency economy as the sole reason for the crisis. Similarly the major causes of confident crisis in the region include failure of government to service their debts, high level of unemployment as well as financial deregulation and liberalization. The Asian Curreny/Financial crisis The East Asia Currency/financial crisis were mainly caused by sudden shifts in market confidence and expectations. Since the macroeconomic in some countries had worsened in 1990s, the depth of the 1997-1998 crisis are not attributed to deterioration in fundamentals, but to panic on the international domestic investors, reinforced by the international financial community and response of the International Monetary fund faulty policy (Poser, 2008). The financial turmoil reflected policy and structural distortions in the countries of that region. The currency and financial crisis in 1997 was triggered by fundamental imbalances. Once the crisis started, herding and market overreaction caused the plunge of exchange rates, economic activity and asset prices to be more severe than the one which was warranted by the weak economic conditions. The macroeconomic imbalances in East Asia countries are accessed within structural factors: foreign indebtedness and current account deficits, savings and investment ratios, real exchange rates, growth inflation rates, budget deficits, and foreign reserves, measures of debt and profitability and political instability (Roubini, Pesenti, Corsetti, 1999). Principal factors responsible for the Asia currency/financial crisis The roots of the Asian crisis are evident on the structure of incentives under which financial sectors and corporate operated in the region, in reference to regulatory inadequacies and close relationship between private and public institutions. The Asia moral hazard magnified the financial vulnerability of the countries in the process of financial market liberalization in 1990s, showing its fragility in the financial and macroeconomic shocks that occurred in 1995-1997 period. This problem lead to the exhibition of three different yet strictly related dimensions at the financial, corporate and international level (Mengkni, 2009). For the corporate level, political pressures for maintaining high economic growth rates led to long public guarantee to private projects, where some of them were undertaken under control of the government, subsidized directly, or supported policies of credit to favor industries and firms. In the absence of explicit promises of bail out, the strategies and plans of production of the corporate sector overlooked riskiness and costs of the underlying investment projects. Having the industrial and financial policy enmeshed within a business sector network o political and personal favoritism, and with the government being ready to intervene for the troubled firms, markets were operated with the impression that to be back to the investment was some how insured against adverse shocks (Poser, 2009). This beliefs and pressures represented the underpinnings of a sustained process of accumulation of capital, hence resulting into sizable and persistent current account deficits. As we all know, borrowing from a broad to finance investments domestically should not lead to concerns about external solvency, but it can be the optimal course of action for economies which are undercapitalized with good investment opportunities. According to the evidence for the countries, in 1990s, it highlights that the profitability of the projects which were new was low. The capital inflows and investment rate in Asia remained high even after the negative signals which were sent by profitability indicators. This result was due to the interest rate which fall in industrial countries lowered the capital cost for inflows and motivated financial flows in these East Asian countries. The crucial factor which underlined the sustained investment was the moral hazard problems in the countries, hence leading the banks to borrow excess finances from abroad and lending excessively at home. The financial intimidation also played a crucial role in channeling the funds to projects which were marginally if not outright unprofitable (Roubini, Pesenti, Corsetti, 1999). In the Asian pre crisis, there is a long list of structural distortions in the banking and financial sectors. these are: low capital adequacy ratios, weak regulation and lax supervision, insufficient expertise in the regulatory institutions, lack of compatible-incentive deposit insurance schemes, distorted incentives for monitoring and project selection, non market criteria of credit allocation, outright corrupt lending practices, according to the model of relationship of banking that practiced semi monopolistic relations between firms and banks while down playing price signals. The stated factors lead to the creation of severe weaknesses in the undercapitalized financial system, with a growing share of non performing loans (Poser, 2008). The distortion consequences were magnified by the financial market deregulation and rapid process of capital account liberation in the region during the 1990s, which leads to the increase of elastic supply of funds from abroad. The liberalization of capital markets was consistent with low supply of funds to the domestic corporate and national financial institutions sector. This goal motivated policies of exchange rate aimed at reducing the domestic currency in terms of the US dollar; hence the risk of premium on dollar denomination debt is reduced (Mengkni, 2009). International dimension of the moral hazard problem was affected by the international banks behavior, which lead to crisis over a period had lent large funds to domestic intermediaries, with the neglect of standards for risk assessment. This over lending syndrome may have lead to short term interbank be effectively guaranteed by a direct government intervention in financial debtors favor, or by indirect bail out through IMF support programs. Again, large amount of foreign debt accumulation was in the form of unhedged, bank related short term, and foreign currency denominated liabilities. In the year 1996, a short term liability in the form of total liabilities above 50 percent was the norm in the countries. Also, the ratio of foreign reserves to external liabilities, which is an indicator of financial fragility, was above 100 percent in Thailand, Indonesia and Korea (Roubini, Pesenti, Corsetti, 1999). The implication of moral hazard is the adverse shock to profitability which does not induce financial intermediaries to be more cautious in lending and following the financial strategies hence reducing the riskiness of their portfolios. To be opposite, the negative implications of a future bail out gives a strong incentive to act on more risk. On this regard, several countries, specific and global shocks lead to severely deteriorate that the outlook of the overall economy in the Asian region. This exacerbated the distortions in place (Poser, 2008). Inevitability of the Asia Crisis The Asian financial crisis was inevitable because before the crisis, the Asia countries currencies were already depreciating and the growth was very slow. There was also a drop of stock markets and real estate, and speculative trends were fueled by foreign capital inflows. This led to outright defaults and wide losses in the financial and corporate sectors. Again, policy uncertainty which was stemming due lack of commitment to structural reforms by the domestic authorities made things worse. The rapid reversals of financial capital inflows on the summer of 1997 lead to regional currencies collapse hence the international and domestic investors panic (Mengkni, 2009). The timing of the crisis The timing of the crisis was in line with financial challenges of the East Asia countries. The economy of the countries was stagnant before the crisis began. Before the crisis, there was fundamental imbalance which was triggered by financial and currency crisis. Therefore, the timing of the crisis was in relation with the weak economic conditions experienced (Roubini, Pesenti, Corsetti, 1999).

Leadership :: essays research papers

are in an election year, and it is during such time candidates running for office love to discuss subjects that are in the public eye. The latest topic among candidates stumping for political office is the decline of the American family. Many candidates address different aspects of this issue, but few politicians offer real solutions. I believe it is not the role of the federal government to legislate solutions for the problem's families face within our country today. This responsibility belongs to individual men who should work to protect and strengthen their family. Steve Farrar’s book, Point Man, takes on the issue of male leadership and the importance it plays in the home. He tackles the issue from a Biblical perspective; offering insight from God’s word throughout his book. The author writes, â€Å"If hundreds of thousands of men seriously began to lead their own homes, the impact on America would be far greater than one Christian man leading in the White House.à ¢â‚¬  Steve Farrar takes a hard hitting approach from the very beginning the book by stressing the important role men play in the lives of their families. They are the â€Å"Point men," who must take up the lead and guide their families through the war zone; protecting them from the enemy. Farrar shows the casualty list is real by listing the most recent statistics for divorce, and teenage pregnancy. The emphasis in the second chapter deals with, â€Å"Saving the boys.† Today’s little boys will grow to be tomorrow’s leaders, and husbands. He identifies the importance of a man spending time with his children, by emphasizing the significance of physical and emotional support a child needs from a parent. The author quickly shifts from a mans relationship with his children to the one he shares with his wife. He writes about how commitment has become cheap in our society, and is only kept if it is convenient. Farrar contrasts this attitude with the Biblical truth of lifelong commitment. A â€Å"One-Woman Kind of Man,† remains faithful by always considering what his eyes see and mind thinks about. He deals directly with the seriousness of adultery, choosing not to tip-toe around the subject like society has chosen to do. While dealing with this topic the author provides valuable insights of how men can guard against the pitfall of this sin. The two key chapters of this book have to do with a mans personal relationship with God.

Ls module

By definition, security refers to ease and trust. C] People you can rely on & know what is expected in the future (or vice versa) 0 Have a better feeling of comfort and safety (or vice versa) e. G. More engagement In social / group activities 0 More trustworthy Friends; Family Relationship Secondly, another esteem builder Is Selfless. By definition, selfless means self-concept. D Acquire self-knowledge & a feeling of Individuality with accurate and realistic self-description C] e. G. Assistance to build up a better self- Image, Like exercise to build up a sharper boy shape; Explore uniqueness & talentsThirdly, another esteem builder is Affiliation. Affiliation refers to belonging & connectedness. D Feeling approved of, appreciated, and respected by others C] Sense of belongingness and acceptance, particularly in relationships that are considered important L e. G. Communication skills for making friendships 0 Sense of acceptance; Assistance to integrate into community Fourthly, anothe r esteem builder is Competence. Competence refers to Feeling of Success. C] Being aware of one's own strengths, being able to accept personal weakness 0 Have a sense of success and accomplishment D e. G.Assistance to find a suitable Job; Give positive comments & achievements; engagement In social & charitable activities Fifthly, last esteem builder is Mission. Mission refers to Purpose and Responsibility. D Set realistic and achievable goals and willing to take responsibility 0 Feeling of purpose and motivation in life 0 e. G. Assistance to set up achievable short term and long term goals 2. Measles Hierarchy of Needs proposed by Ram Moscow (Related to Module 5 Public Health) Hierarchy means arrangement of Items, so dissatisfaction of lower level hinders satisfaction of higher levels.So dissatisfaction of lower level needs hinders recognition & satisfaction of higher level needs. The farther up the hierarchy one goes, the more individuality, humanness and psychological health one ac hieve. Level E. G. Food, drink, oxygen, sex, sleep, exercise, homeostasis(stable internal environment), excretion Level two is the safety and security needs. It refers to needs for long-term survival and stability. E. G. Property, health, family, resources, employment, law and order, predictability, body, structure, stability, freedom from threatening forces such as illness, fear and chaosLevel three is the belongingness and love needs. It refers to affiliation and acceptance. E. G. Friendship, family, sexual intimacy, affectionate relations with others. Level Four is the Self-esteem needs. It refers to achievement and recognition. E. G. Desire for competence, confidence, achievement, independence, freedom, and respect from others, like desire for prestige, recognition, reputation, status, appreciation and acceptance. Level Five is the self-actualization. It refers to full development of one's potentials.E. G. Morality, creativity, spontaneity, lack of prejudice, acceptance of facts , problems- loving Elaboration: (More like the effects or impact of something) Issue 0 Physiological needs, the lowest level not satisfied 0 Principle of Hierarchy: Dissatisfaction of low level hinder satisfaction of higher level 0 Cannot reach higher level of needs, namely the 4 higher levels 0 Mention the highest level 0 Less individuality, humanness and psychological health [Commonly seen in Less Developed Countries, like Africa.

Biographical/Historical Influences Essay

Frankenstein, also known as ‘The Modern Prometheus’, is written by a British author Mary Wollstonecraft Godwin – Shelley during her teens. The novel’s theme is leavened with a few characteristics of Gothic and Romanticism. Based on â€Å"Frankenstein, Or, The Modern Prometheus† (Shelley), the title is alluded to an inventor, Victor Frankenstein, who has an ability to create life of a man whom he calls ‘monster’ afterwards. Moreover, the long arguments with regard to the significance and originality of the story always come along the way; thus, this paper unfolds the real essence of the story—what does it signify for the modern readers; and how do words of the story flow along with the connotations; its influences and so on. Given the list of influences and/or events from Mary Shelley’s life, it becomes quite easy to identify and distinguish how these impacts have prospered to the entire conception of the novel. One of the influences concern the arguments of his father, Godwin in Political Justice, in which he argues that decisions made concerning who lives and dies should be made by those scientists and doctors that are completely impartial. In addition, the impacts of Godwin’s pieces of writing in Shelley’s philosophical thoughts become undeniable, indeed. Her father created a certain philosophy in which the presence of responsibility is inevitable: â€Å"The true perfection of man was to attain, as nearly as possible, to the perfectly voluntary state; that we ought to be, upon all occasions, prepared to render a reason of our actions; and should remove ourselves to the furthest distance, from the state of mere inanimate machines, acted upon by causes of which they have no understanding,† (â€Å"Political Justice 2: 519-528,† Godwin). Hence, as an analysis of the entire view, it becomes quite easy to determine all the responsibilities, which are accountable for every individual’s behavior such as those of Frankenstein. One of the impacts that should also be acknowledged is that which concerns her father’s disapprobation of the rise of technology; stating that its existence would diminish the need for human beings to cooperate with each other—making it less and less necessary to work together. In other words, such a view concerns dealing with reliability on the information technology: â€Å"Responsibility in the contemporary world and with the awesome power of technology which may be used for good or evil has changed. We cannot evade the responsibility that comes with this change — the responsibility to use technology wisely, not only for the sake of our patients but also for the sake of the future. In a sense, we need to be able to foretell the future, to re-enunciate norms and standards as substitutes for the norms and standards left behind by technology. If we fail to do this, the future is bleak,† (Loewy). In other words, development of the high and sophisticated technologies may bring a number of troubles in various means, as seen in the Frankenstein’s work. Moreover, the creation of the novel also comes along with an influence concerning Mary Wollstonecraft (Shelley’s mother) who refers Frankenstein to Prometheus who attempts to give the power of the gods to humanity. In her novel, the appearance of the ‘monster’ is a scientific blame in which the creature dares to imitate God: â€Å"Nature in every thing demands respect, and those who violate her laws seldom violate them with impunity,† (â€Å"Vindication of the Rights of Woman,† Wollstonecraft). Hence, the laws of nature should make the boundaries of everyone’s behavior; Victor Frankenstein surpasses such boundaries like the new sophisticated technologies. Cited Works Loewy, Erich. â€Å"Textbook of Medical Ethics. † NY: Plenum Medical Book Company, 1989, p. 69 â€Å"Political Justice. † bilkent. edu. February 2, 2009. Shelley, Mary. â€Å"Frankenstein, Or, The Modern Prometheus. † Broadview Press Edition 2. Eds. David Lorne Macdonald and Kathleen Dorothy Scherf. Melbourne, Australia: The University of Melbourne, 1999. 364 pp Wollstonecraft, Mary. â€Å"Vindication of the Rights of Woman† pp 138-139. sa

responsibility for the knower Essays

Does making a knowledge claim carry any particular obligation/responsibility for the knower Essays Does making a knowledge claim carry any particular obligation/responsibility for the knower Paper Does making a knowledge claim carry any particular obligation/responsibility for the knower Paper Essay Topic: Claim Of Value Education Anybody who makes a knowledge claim must take responsibility for their claim, particularly if they are parents, teachers or a respected individual in society. Parents are largely responsible for early childhood learning, teachers are responsible for late childhood and adolescent learning, and leaders affect adult attitudes. In growing up, children are greatly influenced by their parents or guardian because they are the first people from what they gain knowledge from. Konrad Lorenzs study with young ducklings suggested a critical learning period in which knowledge is most readily obtained. Many types of knowledge are acquired during childhood, notably ethics and values, which will undoubtedly affect the childs perception and development in the future. Limited knowledge from other types of areas is also acquired during early childhood, and forms the roots of subsequent learning. If a teacher claims that subtraction is the same as addition, then all the students will undoubtedly experience difficulty in future studies. Therefore, any knowledge claim made to a child necessarily has a profound impact on their understanding of the world and those who make the claims must take responsibility. The majority of our learning takes place in educational institutions and our knowledge is acquired from teachers. Teachers are also highly respected and their knowledge claims are therefore highly influential. Though in certain subject areas, knowledge can be attained through logic and reason (such as mathematics), other subject areas can not. In history and biology, for example, the student depends on the teachers accountability. Students lack the incentive to verify every knowledge claim and will not question the teachers stance on the polarity of water or the Austrian heir to the throne. A teachers false claim will have serious consequences and teachers should therefore take responsibility for their claims. Education systems today rely heavily on language, as opposed to hands-on or visual demonstrations. Whorf and Sapirs theory of Linguistic Determinism states that knowledge is determined by language. For example, Navajos have precise words for different shape and consequently, they have a stronger sense of shape. Similarly, the diction of a teachers knowledge claim will have serious implications on the students learning. Austen uses their conversation to criticize Mariannes impulsiveness would have a very different impression on students as opposed to Austen hated impulsive people. Therefore, teachers must take responsibility for the diction of their knowledge claims. Learning is generally thought of as limited to educational institutions, but much learning takes place in adulthood as well. Esteemed individuals in society often have the power to influence the general public and any knowledge claims they make will be influential. In Europe, Hitlers numerous claims concerning Germanys superiority aroused millions to support him. The destruction and causality that his knowledge claims directly or indirectly caused in World War II are horrendous and indisputable. In China, Chairman Maos knowledge claims brainwashed millions of young Chinese to join the Red Army. Consequences of Maos knowledge claims during the Cultural Revolution are also apparent. Both Hitler and Mao were highly influential leaders who are responsible for their knowledge claims. Hence, leaders should take precaution in their knowledge claims and statements for they are responsible for their claims. Naturally, knowledge claims of leaders can be beneficial to vast populations, and leaders can treat their responsibility as an opportunity positively influence people rather than a burden. The consequences and implications of knowledge claims are indisputable, and therefore the people whom make knowledge claims should take responsibility for them. Since learning takes place throughout our lives, the people who teach us in all stages should take responsibility for their knowledge claims. Though parents, teachers, and respected individuals are heavily liable for their claims, they are not the only ones who must take the burden. Every person we interact with will influence us, and therefore, all knowledge claims must be taken responsibility for by the knower.