Bernard Madoff Ponzi Scheme Case Essay Example | Topics and Well Written Essays - 1500 words

Bernard Madoff Ponzi Scheme Case - Essay Example The fraud caused investors to lose billions of dollars, and gave rise to a crisis of confidence in the capital markets. In reality, Madoff’s funds had no investment strategy to provide â€Å"hedges† against the usual forms of risk. For over a decade, there had not even been any trading of stock. In Madoff’s Ponzi scheme, the early investors were bought off with the money from the later investors; additionally, the payouts to the early investors were used as proof of profitability, to thereby convince later investors that the returns were legitimate. The bankruptcy trustee is implementing remedial measures including a â€Å"clawback† action for the later investors to recover the profits of the early investors. Thesis Statement: The purpose of this paper is to investigate the Bernard Madoff Ponzi Scheme Case, examine the reasons for the fraud to take place over several years, identify the warning red flags missed by the investors, and the preventive and reco very measures to be adopted in Ponzi cases, besides other related aspects. Bernard Madoff’s Ponzi Investment Scheme The investment operation of Bernard Madoff was exposed in December 2008 as an extensive Ponzi scheme. The term is derived from Charles Ponzi who organized such a scam in 1919, and it denotes a fraudulent investment arrangement in which investors give cash and property to the main individual in the arrangement. While misappropriating some or all of the funds, the investment operator reports to the investors that the funds made profits. These professed amounts, and those actually paid to earlier investors are funds received from later investors. The fraud is revealed usually when a large number of investors wish to withdraw their investments at the same time, particularly when there is insufficient in-flow of money from new investors. Thus, Bernard Madoff duped investors of an estimated amount of more than $50 billion, by the time the fraudulent scheme was uncover ed (Mannino, 2010). Madoff’s alleged Ponzi had a reach across the globe of more than $50 billion. The sustained durability of the fraud for nearly two decades is considered to be due to Jewish money managers, severe regulatory shortcomings including ineptitude, and probable conflicts of interest by Federal Communications Commission (FCC), Securities and Exchange Commission (SEC), and other regulators and auditors. Madoff appears to have taken actions that reveal him as an equal opportunity thief, who unashamedly misappropriated funds from close relatives and charities in his scheme (Vinod, 2009). One of the main reasons for Madoff’s attracting a wide following was that he â€Å"delivered consistently high returns with very low volatility over a long period† (Bernard & Boyle, 2009, p.3). His technique to obtain these low risk returns was to use a split-strike conversion strategy. This requires taking a long position in equities together with a short call, and a l ong put on equity index to lower the volatility of the position. It was eventually revealed that these returns were false. The Madoff case raises obvious questions on why it was not discovered earlier, and the reasons for investors and regulators to miss the various red flags. The need for risk management and regulation through improved capital requirements for operational risk, is evident from the implications of

Film and Popular Cinema Essay Example for Free

Film and Popular Cinema Essay After reading this week’s assignment and researching different types of film and popular cinema, I have realized some of the differences between the two. I always thought they were the same thing but found that to be far from the truth. Film is a way of putting art into motion. I viewed several pieces on different websites, in particular, on YouTube. I watched one called White Noise. It had no plot or storyline, but showed very interesting art concepts and pieces. Many artists made work addressing social, sexual and racial issues, renewing links with what survived of the ‘community video’ movement of the 1970s. By 1990 video installations had featured in several large international exhibitions and were a familiar presence in galleries and museums, assuming fresh authority through the work of such artists as Gary Hill and Marie-Jo Lafontaine. Read more:  Philippine Cinema Analysis Essay Artists making single-screen work exhibited increasingly on television, and the medium of video was merging with that of the computer. Film, no longer novel nor wholly dependent on a gallery context, had become part of an increasingly elaborate network of electronic communication (Mick Hartney, 2009). Popular cinema is designed around selling tickets and making money at the expense of catering to the demands of global audiences. An example of popular cinema is any of the Twilight movies. They are movies produced from the novels written by Stephanie Meyer. The first movie was a huge success, making audience demand for a sequel a high priority of the producers and distribution companies. The same result came of the sequel and they made the third. Originally, the deal was to make a movie for each book, but if the movies did not succeed in the box office the projects would have been terminated. As, a matter of fact, it is so successful that the last movie based on the last book has been split in half to make two more subsequent movies instead of one. I find myself appreciating both of these forms of art. I have opened up when it comes to  the appreciation of art because I have learned the subtle, and some not so subtle differences between different art forms. References Hartney, M. (2009). Video Art. Retrieved from http://www.moma.org/collection/details.php?theme_id=10215 Sayre, H. M. (2010). A World of Art (6th ed.). Retrieved from The University of Phoenix eBook Collection database.

The Performance Appraisal Process Management Essay

The Performance Appraisal Process Management Essay The essence of the concept of the HRM is that people working in the organization are viewed as a valuable resource. If these people are managed properly, they can boost productivity through commitment and capability. HRM lays emphasis on the importance of integrating personnel functions (recruitment, selection, appraisal, reward, development, industrial relations, grievance and discipline, retirement, redundancy, dismissal) into the overall strategic management of the organization. All organizations evaluate the performance of their employees to find out their relative worth for the job they are doing. Performance is being related to the productivity, it is crucial for the organization to achieve its goals and objectives. Effective performance for the organization means that output can be maintained with fewer numbers of employees. Performing effectively is also of crucial importance to the employee because organizations can no longer tolerate poor performance, they (employees) are m ore likely to be dismissed. The effective management performance, therefore, is not only vital for the long-term survival of the organizations but is also a moral obligation on the employees. Performance appraisal is considered as the systematic evaluation of individuals to their performance on the job and their potentials for development (Dale S. Beach, 1980: 290). Wendell French has defined performance appraisal as a systematic and periodic assessment of how employees are doing their jobs in relation to established norms and the communication of that kind of assessment to employees. It is a process of evaluation an employees job performance with respect to its requirements. A systematic performance appraisal provides information for making decisions about various issues such as promotions, pay increases, layoffs, training and development and transfers. It is managements powerful tool in controlling human resource and productivity. Managers can improve an employees job performance through clarifying expectations and evaluating performance. Employees also, in general, prefer having some kind of appraisal to develop an appropriate vision of their own effectiveness and opportunities (Wood, 1988). Formal performance appraisal can meet the three needs, one of the organization and the other two of the individuals within the organization: It provides systematic judgments to back up salary increase, transfer, demotion or termination. It is the means of communicating to subordinates the behavior, attitudes, skills or job knowledge and let him know where he stands. It is used as a base for coaching and counseling the individual by his superior. The effective management of performance is not only vital for the survival of the organization but is also in the best interest of the employees. The underlying assumption of performance management is that the individual employees can satisfy their needs and objectives by contributing to the attainment of the organizations objectives. This may result in employees motivation and greater job-satisfaction which is at the core of HRM (Foot and Hook 2008). The performance appraisal process generally consists of the following six steps as depicted in Figure 1 (Decenzo and Robbins, 1998). Figure 1. The Performance Appraisal Process Establishment of performance standards Communicate the performance expectations to employees Measure actual amount of performance Compare the actual performance with standards Discuss appraisal with the employee If necessary, take corrective action Performance appraisal begins with the establishment of clear and objective standards of performance evolved out of job analysis and job description. These standards need to be communicated to the employees. Subordinates have to receive and understand the information properly. The third step is the measurement of the actual performance. For this, four measures can be utilized by managers, namely, personal observation, satisfied reports, oval reports and written reports. The fourth step is the comparing of the actual performance with standards. If any deviations are found between standards and actual performance, the manager may proceed to the fifth step to discuss the appraisal with the employees. Final step of appraisal is taking corrective action when it requires The objectives of performance appraisal can be classified by different ways but according to (Harrison, 1995) to the objectives of performance appraisal are i. administrative: which determine orderly way of promotion, transfers and increase of payment. ii. Informative: supplying the relevant data to management team according to performance of subordinates and weakness and strengths of individual. iii. Motivational: create good environment to employee which motivate staff to develop themselves and to improve their performance According to (Randell, et al. 1972) the main purpose of staff appraisal is to evaluate, auditing, constructing succession plans, motivating staff, developing individuals and checking. Similarly according to (Lefton, 1997 ) performance appraisal can be defined by mainly four characteristics a. its formal b. it tries to find out why and how a subordinates is doing the job c. it tries to explore how subordinate can do better way in a job d.it always tries to produce benefits for subordinate, the organization and the superior. Performance evaluation systems in Nepalese organizations are mandatory. The results of performance appraisal are not used in terms of career development, reward management and employee training and development. The results are mostly used to decide whether to promote employees or not (Adhikari, 2006). The main purpose of performance evaluation in government and public enterprises is the promotion of employees. It is not used for performance feedback to employees, reward management and identifying the needs of training and development. In civil service, 40 percent of performance appraisal is confidential and thus non transparent to employee (Agrawal, 2001). Three different approaches exist for doing appraisals. Employees can be appraised against (i) absolute standards, (ii) relative standards, or (iii) objectives (MBO). However, no one approach is always best. Absolute standards are individual oriented whereas relative standards rank individuals. Management by objectives facilitates continuous improvement of performance results. Most of the private sector enterprises in Nepal lack systematic performance appraisal system. Personal judgment and subjective assessment of owner-manager serves as the key criteria for performance appraisal (Agrawal, 1982). Formal and systematic performance appraisal system was non-existent in tea industry of Nepal. Promotion is the vertical movement of an individual in an organizations hierarchy, enhanced status, accompanied by increased responsibilities, and usually with increased income, though it is not always so (Monappa and Engineer, 1999). It is the advancement of an employee to a higher job-rank in the organizational hierarchy accompanied by a pay rise (Pigors and Myers, 1981: 303). Employees consider their ultimate success of their career and performance in terms of the number and frequency of promotion they get during their service. Yoder et al observed that promotion gives incentive to initiative, ambition and enterprise, unrest and minimizes discontent, attracts capable personalities, appropriate logical training of advancement, and forms and effective reward for cooperation and loyalty, long term service, etc. (Yoder,1979). It increases satisfaction in the employees that their talents and capabilities are being recognized. In turn, they trust the organization and devote for the acco mplishment of organizational goals and objectives. In Nepal, the Civil Service Act was promulgated in 1956 which stated that promotion should be given to civil service personnel on the basis of work efficiency (Civil Service rule, 1993). Many changes have been done in the promotion system of the employee in the government organization since that time. The Administrative Reform Commission formed under the chairmanship of Mr. Vedananda Jha suggested that the promotion criteria for civil service personnel should include (a) seniority, (b) experience, (c) academic qualification and training, and (d) departmental performance report including co-operative attitude. Another Administration Reform Commission formed under the chairmanship of Mr. B.B. Thapa noted as promotion occupied special importance in the career development of employees, so capability to hold higher promotion and the capacity to perform the work satisfactory in the present position were the main criteria of promotion (Government of Nepal, 1996, Report of Commission). Amend ments were done in the Civil Service Rules in 1978 and 1983. Similarly the Administrative Reform Committee formed under the chairmanship of the then prime-minister Mr. G.P. Koirala in 1991 emphasized performance oriented promotion system. The new Civil Service Act, 1993 laid stress on performance ability with criteria such as past performance, seniority, work experience of remote area, and academic qualification. Similarly, the comparative weight-ages of promotion criteria of civil service employees were changed after 1992. NASCs study on promotion system of civil services stated that there was lack of clarity in its purpose and no consistency in the average promotion period between level and services. The risk of subjectivity in merit rating was a major apprehension in the minds of civil servants for giving more weight to merit rating. Even the performance evaluators views were in favor of no link of the promotion with the performance. Basic perquisites for sound performance appraisal practices, such as clear organizational and sectional objectives, individual job descriptions, adequate and reliable information system etc. were not properly provided in the civil service. Majorities were in favor of number allotting 50 percent of seats to the promotion by competitive examination as compared to the exiting 25 percent, in some cases even less. Williams (1972) ascertained that managers lacked adequate means or determination to control the motivation and productivity of their workforce. Job description, performance appraisal and output indicators were non-existent; rewards and sanctions were irrationally applied; salaries were not genuinely related to knowledge and or effort requirements; offices had inadequate facilities; poor co-operation and limited delegation. The top of the decision making level was congested by trivialities while middle-level staff were in a soporific frenzy over the responsibilities for complex planning and fiscal matter. The review presented above fairly indicates that the limited attempts have been made to study personnel / HR management practices in public and private enterprises of Nepal. Those studies have shed light on some aspects of personnel / HR management, however, the concluding remark indicates that personnel /HR management in the past remained neglected areas of management. This review also indicates that no systematic attempts have been made to study HRM practices in tea industry of Nepal. This knowledge gap has called for a systematic study which could bridge up such a gap. The present study is an attempt in that direction. Tea industry which is leading position in the national economy is growing extensively mainly in the eastern region of Nepal. It is, being one of the most labor intensive, agro-based industries; it involves a great deal of workforce, which provides direct employment to about 41000 workforces. After the privatization of Nepal Tea Development Corporation in 2000, the change in ownership is also accompanied by deep changes in organizational procedures and culture that could have a profound effect on enterprise behavior and performance (Manandhar, 1998). There have been only a few research studies in the field of human resource management in private enterprises of Nepal. And there has not yet been any specific research conducted in HRM in tea industry of Nepal. So, in view of the poor research-based on HRM and the lack of knowledge existing in this field, the research work is virtually called for the streamlining of HRM practices. Research can lead to an increased understanding of an improvement in HRM practices. It can provide insights for managers as they attempt to increase employee productivity and satisfaction while reducing absences and turnover. Research can also identify potential problem areas related to HRM. Industry background The golden beginning of tea plantation in Nepal dates back to the year 1863, with the first tea processing factory was established in the year 1878, in Ilam Tea Estate. In 1959 Budhkaran Tea Estate was established at Jhapa which was the first tea estate in private sector. Soon after this venture, Satighatta, Nakkalbanda, Mittal, Giribandhu Tea Estates and Himalaya Tea Garden were established. The establishment of Nepal Tea Development Corporation (NTDC) in 1966 is considered to be a landmark to augment the tea cultivation. Generally, two types of tea orthodox and CTC (Crush, tear and curl) are produced in Nepal. At present, there are 128 tea estates and 45 tea processing factories as registered in NTCDB. Basing on the previous statistical figure of total tea plantation area of 16420 hectares, and multiplying by 2.47 persons per hectare, it is estimated that about 41000 people are employed in tea industry of Nepal Tea industry which is considered as the backbone of national economy of Nepal but there has not yet been any specific research conducted in HRM in tea industry of Nepal. So, in view of the poor research-based on HRM and the lack of knowledge existing in this field, the research work is virtually called for the streamlining of HRM practices. Research can lead to an increased understanding of an improvement in HRM practices. It will provide insights for managers as they attempt to increase employee productivity and satisfaction while reducing absences and turnover. Research aim, research questions or hypothesis and objectives Research aim: The research aims is to investigate the employee performance appraisal system in an organization. Research question Is the performance appraisal practice key to pay rise, training and development, promotion or termination of the employee in the tea industry of Nepal? Research objectives The specific objectives of this study are: 1. To examine how employee performance is appraised in an organization. 2. To evaluate the effectiveness of performance appraisal system in the organization. 3. To analyze the relationship between performance appraisal and the factors like pay rise, training and development, promotion or termination of employee in an organization. Research Methodology The research philosophy applied for this research project will be phenomenological instead of positivist philosophy and the researcher will analyse and explain the purpose of research through the qualitative methods. 4.1. Research Philosophies: Positivism and Phenomenology Phenomenology as a philosophy, propounded by Edmund Husserl in the 20th century which is concerned with the systematic analyses and reflection of consciousness, structures and phenomena as it approaches in the act of consciousness. The reflection in the phenomenological philosophy is to be done through the first person viewpoint which is highly modified first person. According to Saunders et al. (2000) explained the significant differences between these two approaches of research which is very useful for this study to make concise choice. Regarding the worldview Saunders et al say that phenomenology describes world is subjective which is socially constructed whereas Positivism philosophy says that the world is objective and external. In terms of their basic beliefs they further say that positivism define that the observer is independent in his or her observation, converse to this, phenomenological view says that the observer cant be isolated from what is being observed rather than th e observer is a part of what is being observed. In positivism Science is taken as free of value contrary phenomenological philosophy takes the human interest in science. Phenomenology view says that human interest is to colour the science. Taking into consideration of research nature the research the researcher finds phenomenological philosophy opt for this study. Collis and Hussey (2003) says that phenomenological research provides qualitative data which is well matched with this research, as the qualitative data by its nature is subjective and rich because there is a significant level of participation of the researcher. Besides these facts, the research setting is the commercial organization which is natural setting rather than laboratory setting of the positivistic philosophy. 4.2. Qualitative and Quantitative Research Mainly there are mainly two kinds of research where researcher can apply any one of them or mix both qualitative and quantitative as per their demand of the research topic. In this study, researcher will use qualitative approach with the definition of Collis and Hussey (2003) who says, qualitative research as an approach of study which is subjective and tries to explore and understand the social and human activities which includes reflection and examination on perceptions. Performance appraisal as such is a subjective in nature which is related to the study of human behaviour with a fixed organizational setting. Inductive and Deductive Research The choice between two methods of research as inductive and deductive is also depends on the nature of the study. The deductive research which begins with theory and later tested through empirical observation. In this study, inductive approach will be used where researcher moves from the particular to general. 4.4 Source of Data In the initial phase of investigation, a comprehensive study of various relevant materials books, reports, research works etc. will be done. Both the primary sources and secondary sources of data collection tools will be applied. While collecting data from primary sources, multi-data collecting method i.e. triangulation method will be applied. The researcher will prepare the questionnaires that elicit the facts regarding the personal appraisal system in the organization. In the second phase, the researcher will visit the different tea states with semi structure interview schedules, design to get information on what was being done and how was it being done relating to various aspects of employee performance and appraisal process. Then after first field study, he will construct some research questions regarding to structure interview for pilot study. So, at last with the help of pilot study he will fully prepare research question for structure interview for different employee as worke rs, managers and assistant. The researcher thinks that collecting data from different methods helps the researcher understand the phenomenon more deeply and increases the reliability and validity of the data. The secondary data will be collected from various published and unpublished reports, records and documents of Central Bureau of Statistics, Labor Department / Office, Center for Economic Development and Administration of TU, Nepal Tea and Coffee Development Board, Agro Enterprise Center under Federation of Nepal Chamber of Commerce and Industry. Data will also be collected from publications of different national and international institutions, research works, books and relevant articles published in different journals, magazines and newspapers etc. and will review for obtaining necessary information. 4.5. Sampling Procedure: The sampling method for selecting the tea estates will be judgmental sampling. The tea estates for this study will select mainly on the basis of their size of plantation, number of employees, and production performance of the companies representing both corporate and private sector, and hilly as well as Terai region. For this study, five leading tea estates having their own processing factories will be selected comprising two tea estates from corporate sector, namely Kanyam tea state from hilly area of Ilam and Tokala from Jhapa district. On the other hand three tea estates from the private sector, namely, Budhkaran, Satighatta and Giribhandhu will be chosen from Jhapa district. Five employees from different level of each estate will be considered as a sample. So sample of this study will be 30. Analysis of Data: After the collection of data from both primary and secondary sources most of the processing work, tabulation and calculations will be conducted manually in the beginning. Data will classify into different groups and finally they will be presented in tabular forms. Similarly, the respondents views and opinions will be analyzed in terms of different levels of employees such as managers / officers, assistants and laborers. The analyses of data will be made with the help of relevant statistical tools such as simple average, percentage and chi-square tests. For computation and statistical analysis electronic scientific calculator and computer will be used. Research ethics While conducting the research we requires certain disciplines .It embodies certain goals and norms which the researcher need to maintain coordination between the actions or activities they applied and maintain which establish the public trust of the discipline. Ethical standard helps the researcher to maintain knowledge and truth to minimise the error. It is essential to avoid misrepresentation, fabrication, and falsification of data. Some ethical issues as honesty, integrity, objectivity, carefulness, openness will be carefully considered while conducting the research. . This study will reveal a clear picture about the existing state of HRM practices in tea industry. The outcome of the study may serve as a research infrastructure on which further researches can be built. And the information and conclusions derived from this study may be useful and helpful for practicing managers, as well as planners, policy makers and other agencies concerned, through better understanding of HRM practices relating to tea industry. Thus, it is a modest attempt towards examining and understanding HRM practices in tea industry of Nepal. Also, researcher has a good taste of knowledge and highly interested about tea industry of Nepal from the very beginning. So the research topic will be significance for researcher. Human resource is the most important resource in an underdeveloped country like Nepal which can be mobilized or managed for the overall development of the country. But in practice, very little attention has been given to the management of human resources in any organizational setting. Consequently Nepalese industries have been facing various HR problems such as low employee-morale, low productivity and greater tension between labor and management. Timescale After the proposal has been accepted by the University of Wales the following time line will be followed to complete the research work: Figure 2. Gantt chart: Months and weeks→ Activities ↓ April Weeks↓ May Weeks↓ June Weeks↓ July Weeks↓ 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 Read literature Conform objectives Draft literature review Field survey with semi structure interview schedule Research question for structure interview for pilot study Pilot study of interview Prepare research question for final interview Conduct final interview with employee and fill up questionnaire Tabulation of raw data Analysis . Writing thesis Deadline à ¢Ã…’Å ¡ Resources Both primary and secondary sources will be used in the study. In the initial phase of investigation, a comprehensive study of various relevant materials books, reports, research works etc. will be done. The secondary data for this study will be used from previous research works, books and relevant articles published in different journals, magazines and newspapers etc. In the first stage of primary data , the tea estates were visited with the semi-structured interview schedules design to get information on what was being done and how was it being done. With that information from first visit, more reliable semi structure interview will be designed and piloted with 7 non-sampled employees of different levels such as managers, assistants and workers. Finally, revise structure interview schedules will be construct and administer to the 25 sample employees with different level.

The End of the World Essay -- Movies Films Science Fiction Essays

The End of the World In writing definitively about American films of the nineteen fifties, Douglas Brode refers to the societal hysteria resulting from fear of both the communist threat and the possibility of nuclear war. Accompanying this general state of mind was the emergence of the science fiction film as a major genre. Titles in the genre dealt with fantasy topics ranging from alien invasion (The Thing, 1951, or Invasion of the Body Snatchers, 1956), to biologial "missing links" (The Creature from the Black Lagoon, 1954), to the bizarre side-effects of nuclear contamination (The Incredible Shrinking Man, 1957), or to actual nuclear war (The World, the Flesh and The Devil, 1959). Another interesting example of this last category is Stanley Kramer's On the Beach, released in the last month of a decade which would be remembered for its omnipresent bomb culture. As the turn of the decade approached, some changes were apparent. At the same time that exchanges between Eisenhower and Khrushchev were bringing new, less frightening discourses to the political arena, Kramer's film in the bomb culture tradition negotiated new approaches to the depiction of the nuclear threat. As is so often the case in genre studies, On the Beach should be considered in terms of how it is representative of the context from which it emerged, but also in terms of what makes it unique. Through such an examination, as well as a survey of the impact that the film had upon its audiences, I hope to discuss On the Beach as integral in a culture of the bomb which spoke proactively and unequivocally against nuclear armament. Bomb Culture & Science Fiction in the Fifties "As the notion of an all-out nuclear confrontation became a viable possibility, w... ...reatly changed from Arnold's day) for their evocation of some part of each of us which reaches toward others in defense against a world which can be truly frightening. On the Beach is much the same. Aesthetically and narratively, it is impressive; it would be difficult not to be moved by the final honest exchange between Admiral Bridie and Lieut. Hosgood; the reflection of the young husband and wife as they recall their first meeting; or the chilling void of a grey, white and black world in which people used to live. Produced as part of the culture under- the-bomb, On the Beach speaks memorably of that specific context; produced as a carefully planned passionate requiem on the potency and vulnerability of human existence, it transcends this context, and reminds us today that no matter what the threat, as long as there is the human spirit, there is "still time."

Detroitism

Historical Oblivion John Patrick Leary’s essay, Detroitism  explores the most common rhetoric that Detroit as a city and a symbol often falls  victim  to the validity of ‘ruin porn’ which attempts to document but often exploits its history. Leary is an  American literature teacher  at Wayne State University in Detroit. His essay explores in-depth the shallowness of popular ruin pornographers, Yves Marchand and Romain Meffre, photographs from their book, The Ruins of Detroit,  as well as other popular photographers.He also  outlines the three â€Å"Detroit Stories,† which are typical  attitudes  regarding Detroit news and media discussion. He intends to reveal a point he thinks is of reasonable importance to readers’. His essay is one with a valid message. However it can be difficult to understand exactly what he means at times as he shifts from criticism to defence of the photographers he mentions, which can sometime confuse them in to getting to different conclusions. Nevertheless, he does eventually secure a crucial point that stands out to most readers.According to John Patrick Leary, â€Å"Detroit remains the Mecca of urban ruins. † Leary notes that ruin photography is often deemed â€Å"pornographic,† and questions how photographs of a crumbling city can really tell us why that city crumbles. Where ruin photography succeeds is â€Å"in compelling us† to ask the questions necessary to put this story together—Detroit’s story, but also the increasingly familiar story of urban America in an era of prolonged economic crisis. He adjusts his writing in an effort to unveil a different view of Detroit’s past to the readers.In Leary’s view, most people are completely blinded by the fascination conveyed in the photographs and are unaware of the events that actually took place in the city. One example of ruin-porn Leary chooses to criticize is an extract from The Britis h filmmaker Julien Temple’s   Ã¢â‚¬ËœDetroit: The Last Days’: â€Å"In their shadows, the glazed eyes of the street zombies slide into view, stumbling in front of the car. Our excitement at driving into what feels like a man-made hurricane Katrina is matched only by sheer disbelief that what was once the fourth-largest city in the U. S. ould actually be in the process of disappearing from the face of the earth. † Leary describes this style as the locally denounced â€Å"ruin porn,† as all the elements are present: the exuberant connoisseurship of dereliction; the unembarrassed rejoicing at the â€Å"excitement† of it all, hastily balanced by the liberal posturing of sympathy for a â€Å"man-made Katrina;† and most importantly, the absence of people other than those he calls, cruelly, â€Å"street zombies. † Leary’s point is that the city and its people aren’t properly mentioned for they mean nothing to Detroit authors; their only interest is to come up with something readers find fascinating.This is exactly what Leary disapproves of and is the main purpose of his essay. According to Leary, no photograph can adequately identify the origins for Detroit’s contemporary ruination; all it can represent is the spectacular wreckage left behind in the present, after decades of deindustrialization, housing discrimination, suburbanization, drug violence, municipal corruption and incompetence, highway construction, and other forms of urban renewal that have taken their terrible tolls.The point behind his writing is to, at which to some extent he succeeds, change the reader’s view of Detroit by explaining the reality of the city’s past and allowing readers to imagine themselves in the past citizens’ unpleasant positions, at the time of the city’s downfall. John mentions what is most unsettling to him—but also most troubling—in Moore’s photos is their res istance to any narrative content or explication.For example, he describes Moore’s shot of a grove of birch trees growing out of rotting books in a warehouse as being a sign of Detroit’s stubborn persistence, and that it could easily be a visual joke on the city’s supposed intellectual and physical decrepitude, a bad joke that does not need repeating. Leary seems to disapprove of every photographer he mentions but only to some extent. What he thinks makes this subgenre of urban expose particularly contemporary, though, is the historical and economic phenomenon it struggles to represent, a phenomenon the newness of which few of us can adequately comprehend.He tries to break things down to make it easier to understand his reasoning. Another issue Leary discusses is how the city fascinates as it is a condensed, emphatic example of the trials of so many American cities in an era of globalization, which has brought with it intensified economic instability and seemingl y intractable joblessness. The implied message here is that people don’t realize that they themselves are at risk of sharing Detroit’s fate caused by economic struggles we face today. It’s a clear example of how that term, these days at least, increasingly looks like an optimistic delusion.Leary thinks it may have always been this way, and shows that he’s not satisfied. In viewing  Detroit Disassembled  and  The Ruins of Detroit, according to Leary, one is conscious of nothing so much as failure of the city itself. Neither do the photographs communicate anything more than that self-evident fact. It is difficult to see through the pictures to discover the past. This is the meta-irony of these often ironic pictures: Though they trade on the peculiarity of Detroit as living ruin, these are pictures of historical oblivion.Leary emphasizes that Detroit figures as either a nightmare image of the American Dream, where equal opportunity and abundance came t o die, or as an updated image of it, where people from expansive coastal cities can have the one-hundred-dollar house and community garden of their dreams. Although not directly mentioned, it is clear that this essay was not written only for the sake of Detroit, but rather to introduce a more realistic view of the world, one that Leary thinks the most people misunderstand.Leary tries to support his personal perspective with examples of situations that seem almost identical, providing more opportunities for readers to grab his ideas. It seems he’s so determined to making sure the reader grabs the accurate idea of the events in his writing that he, although it’s not very noticeable, uses guilt to persuade the reader about what he considers to be wrong views of Detroit’s past, which does not work in every approach.This may be due to the drawn conclusion of Leary trying to change the reader, which is understandably taken in disapproval, as readers like to have their own thoughts on implied matters in a reading. Most readers like to be entertained instead of being informed, although it is those readers who need to be informed. This doesn’t mean that his writing is offensive; it just isn’t balanced in a way that makes sense to everyone. At the end of his essay, Leary lessens his criticism about the photography and actually states what they do right. He starts to show a bit of appreciation as well.At that point, he starts to explain his analysis of the photographers’ work as incomplete. He mentions how Photographers like Moore, Marchand, and Meffre succeed in compelling us to ask the questions necessary to put this story together, Detroit’s story, but also the increasingly-familiar story of urban America in an era of prolonged economic crisis. He believes that the fact that they themselves fail to do so testifies not only to the limitations of any still image, but our collective failure to imagine what Detroit’s future, our collective urban future, holds for us all.The decontextualized aesthetics of ruin make them pictures of nothing and no place in particular. Detroit in these artists’ work is a mass of unique details that fails to tell a complete story. â€Å"But it’s a bit more than that,† Leary says, as he tries to explain that their photographs aren’t necessarily wrong, but rather that they are missing an important side of Detroit’s history, one that is crucial to our understanding of its future.

Explain the Relation between Trade and World Output

World output or global output represents the sum of the entire amount of goods and services produced by all the countries of the world for a certain period of time. In simple terms, if each country produces a pair of shoes, a computer and a sack of coffee, multiply that by the total number of countries in the world to get global output. On the other hand trade, or more correctly international trade, is the exchange of goods and services across international borders. Since it is impossible for all the countries to produce similar products, trade allows countries to focus on products that they have an advantage in producing over other countries. A classic example is crude oil. Not all countries have an abundant supply of oil – the reason why Middle East countries sell their excess oil to countries that need them. Trade encourages effective and efficient use of a country’s resources. A country that is more proficient in growing coffee could forgo the manufacture of computers and shoes and increase their yield of coffee to ten sacks of coffee and trade some of these excess coffee to a country that has an advantage at making shoes and computers. Following the logic of this interaction, as a country becomes more efficient in producing goods and services its total output also increases. And, as all the other countries increase their total output, world output ultimately increases. Describe the broad pattern of international trade International trade has been evolving at a much faster pace after World War II. Much of the evolution of trade in present times is attributed to rapid advancements in technology. Production of goods is now done at a much faster and more efficient rate – lowering overall manufacturing cost and doubling-up output. At the same time, it is now faster to ship goods to any point in the globe and attendant support communication facilities have improved tremendously. According to statistics from the World Trade Organization (the organization tasked to oversee international trade): –   75 percent of the global exports come from developed countries, while only 25 percent are from developing ones. – 83 percent of exports from developed countries are manufactured goods, accounting for 62 percent of total world exports. – Manufactured goods from developing countries are growing – now registered at 56 percent of their total exports — and account 14 percent of the world total. – Today, more primary products are being exported by developed countries than by developing countries: 14% of world exports, compared with 11% by developing countries. If the nations of the world were to suddenly cut off all trade with one another,  what products might you no longer be able to obtain in your country? An obvious answer is oil since it is one of the top imports of the country. Still, other items would be woodcrafts and furniture and certain agricultural products like rubber and natural oils. If the other trading country is China, products that will no longer be available here are office equipment, shoes and other articles of apparel, telecom and sound equipment, and, professional and scientific equipment. Choose one other country and identify the products it would need to do without In the case of China, products that would no longer be available in that country are electrical and heavy machineries, mineral fuel, oil, seeds and fruits, organic chemicals, iron and steel, aircraft and spacecraft, and cotton, yarn and fabrics. Discuss trade patterns Trade patterns deal with what goods and services a country trades, with whom, and in what direction. Trade patterns are studied in two ways: through the pattern of movement in commodities like oil, capital and raw materials, and, through factor contents or the amounts of primary factors used in the production of goods. Trade patterns reveal the current state of international trade, the direction it is heading and its effect on overall global output. Trade patterns also reveal emerging markets as well as markets that are on the decline. Trade patterns also influenced by global events that do not deal directly with international trade. These events include the September 11 attacks, SARS and the war in the Middle East. The current trade pattern reveals an interesting trend: prior to World War II, primary commodities came mostly from developing countries whereas manufactured products came mostly from developed countries. After the WW II, the trend has reversed and that reversal continues up to the present. Explain the methods governments use to promote and restrict international trade International trade is generally regulated and controlled via imposition of tariffs. Nations carry out such measures in three ways: on their own (unilateral); in agreement with another country (bilateral); or, in agreement with several other countries (multilateral). Non-tariff measures include imposition of quotas and voluntary export restraints (VERs) – a restriction on a country's imports that is achieved by negotiating with the foreign exporting country for it to restrict its exports. To promote international trade, countries give concessions like preferential trading agreements (PTAs), custom unions and common markets. Custom unions are groups of countries that who adopt zero tariffs and no other restrictions on trade when trading among them. Common markets on the other hand, are groups of countries, who choose to eliminate all barriers to movement of both goods and factors among themselves. References World Trade Report: 2006 (2006). World Trade Organization. Retrieved October 30, 2007 from the World Wide Web: http://www.wto.org/english/res_e/reser_e/world_trade_report_e.htm Deardorff, A. (2001). Deardorff's Glossary of International Economics. Retrieved October 30, 2007 from the World Wide Web: http://www-personal.umich.edu/~alandear/glossary/    Morrison, W. (2007). China-US Trade Issues. Retrieved October 30, 2007 from the World Wide Web: http://www.fas.org/sgp/crs/row/RL33536.pdf    Wild, J. Wild, K., & Han J. (2006). International Business. Prentice Hall   

The Right to Baptize Essay

The Right to Baptize Essay The Right to Baptize Essay THE RIGHT TO BAPTIZE A sixteenth century radical group of believers, who became known as the Anabaptists, greatly influenced modern day Baptists by their faith and sacrifice. The Anabaptists, along with many other believers who were frustrated with Roman Catholic rule, took part in the Reformation that birthed the Protestantism which so many Christians can appreciate today. The freedom that we experience today as American Protestants was merely a dream to the Anabaptists. They were martyred by the thousands for their unwavering beliefs. In fact, during the reformation years 4000-5000 Anabaptists were executed by fire, water, or sword.[1] Keith L. Sprunger gave a great description of their faith and zeal when he wrote, â€Å"To their fellow believers, the Anabaptist martyrs were spiritual heroes. Through the speaking and singing with Christlike demeanor in the hour of death, the martyrs acted out ‘effectual sermons’ which touched the hearts and eyes of all who watched them.†[2] One would be inclined to believe that modern day Baptists, along with all other American Protestant Christians, could never properly process this scene, as we ha ve never been faced with such persecution nor had to display our faith to this degree. To question whether or not modern Christians would be willing to die over issues such as infant baptism would only reveal a far less zealous conviction in the present. The Anabaptists played a major role in the birth of Protestantism, in which Baptists represent a large number. Shelly wrote, â€Å"In their belief in the separation of church and state the Anabaptists proved to be forerunners of practically all modern Protestants.†[3]After the Second Diet of Worms in 1529, the Anabaptists were part of the evangelical minority, which included the Sacramentarians, who could only offer a protest against their eradication. The word ‘Protestant’ was a result of this protest.[4] The Anabaptists did not actually like the name they were given, which means rebaptizer. In fact, they much preferred the name Baptist. Although, their fundamental view was not Baptism, â€Å"it was the nature of the church and its relation to civil governments.† [5] Perhaps the Anabaptists largest contribution was their zeal for the separation of church and state. The Anabaptists’ reasoning for rebellion may be best described in this paragraph read out of the book titled, â€Å"The Free Church.† Further it was declared that it was not fitting for a Christian to be a member of the Government. Reason? The worldly government is according to the flesh, but the Christian according to the spirit. Their house and dwelling is fleshly in this world, the Christian’s in heaven†¦. Their strife and weapons of war are fleshly and against flesh alone; but the Christian weapons are spiritual, against the fortress of the devil. The worldly are equipped with armor only against the flesh but the Christians are equipped with the armor of God- truth, righteousness, peace, faith, salvation and the Word of God.[6] The Mennonites are considered to be modern day Anabaptists. In the book, Christ and Culture, the author states that, â€Å"the Mennonites best represent Protestant Sectarianism, since they not only renounce all participation in politics and refuse to be drawn into military service, but follow their own distinctive customs and regulations in economics and education.† [7] The Mennonites are their direct descendants when one considers their defiance to government rule. However, they are the extreme when considering the beginning goal of the Anabaptist movement. The reason in which the Anabaptists defied the government in the beginning was their disagreement in infant baptism, due to their strong belief in believer baptism. This caused a conflict with the government because infant baptism was a way the government was able to keep census. Their strong beliefs regarding believer baptism set them in the direction of the yet to be formed Baptist Church.