Brave New World By Huxley Essays (661 words) - Brave New World

Brave New World By Huxley John the savage and Mustapha Mond the world controller both have their separate ideas of what happiness is. Mustapha defends the new society, pointing out the advantages that the savage world does not have, and what he perceives as the people being happy. "But I don't want comfort. I want God, I want poetry, I want real danger, I want freedom, and I want goodness. I want sin." "In fact," said Mustapha Mond, "you're claiming the right to be unhappy." "All right then," said the Savage defiantly, "I'm claiming the right to be unhappy." "Not to mention the right to grow old and ugly and impotent. The right to have syphilis and cancer; the right to have too little to eat; the right to be lousy; the right to live in constant apprehension of what may happen tomorrow; the right to catch typhoid; the right to be tortured by unspeakable pains of every kind." There was a long silence. "I claim them all," said the Savage at last. (1) John doesn't see death or life to be something that should not be enjoyed. He takes life everyday as it comes, where in the utopia it is all pre-decided for you and there are no worries. He wants the inconveniences that come with everyday life outside utopia, the freedom of being able to read Shakespeare, and other literary works that have not been locked up and hidden from the view of everyone. In john's eyes, the problem with the people in the brave new world is that they lack the freedom of making their own choices that would in turn make them happy. Mustapha sees the Savage as an amusing diversion, a masochist who really does not understand the situation. The World Controller lives by the credo 'Community, Identity, Stability.' All the things claimed by John are unnecessary diversions, or even harmful to individuals. What use are emotions, things that just breed unhappiness? Mustapha sees John as a stubborn individual who demands things he doesn't need, just because he doesn't have them. Despite John's arguments for the richness of life, it is true that laughter can exist without tears, and that pleasure can exist without pain. Mustapha Mond misses the point of the Savage's argument. It seems to me that one of the defining aspects of humanity are that we do not want to waste our lives. This gives us a motive for all of our actions, whether it be going to school, experiencing intense emotions or founding a family. For the same reasons, personal identity is a highly prized commodity. How can we make our lives useful and worthwhile if we lead our lives in exactly the same way as countless others, like the citizens of the Brave New World? By denying the inhabitants of the New World their choices, Mustapha also denies them their freedom. The result is a world of automatons, like a collective of ants on a hill. Mustapha and the other world controllers have sacrificed the very essence of humanity in the name of stability. Though John and Mond are both what they perceive as happy, we are left with wondering if they can truly say that they are happy. Mond gave up his happiness to give the New World happiness. Mond choose the happiness of the society as a whole instead of his own personal happiness. John was ripped out of his society and dropped into a world that was nothing like his own. People all alike, no one was at all different. Restricted from the time they where"created" to fit in the mold of society. How you looked, acted, thought, what job they would hold. Everything pre-determined. Nothing left to the imagination. John had his idea of what happiness was. Though he died trying to achieve it. He had a perception of what in life he wanted. He wanted to experience the pain and hunger that you only can when you are truly happy. Mond gave up his chance to benefit others. If given the choice I think I would rather live in the savage society where I would have the chance to experience everything that was available. Not having life pre-determined.

Puerto Rico Colonization essays

Puerto Rico Colonization essays Colonized people are people who have been influenced and taken over by another country or power. Puerto Rico has been colonized by Spain and also by the United States. Spain took over Puerto Rico, a small island inhabited by the Taino Indians in 1493. Spain didnt grant freedom to the Puerto Rican people until 1897. The Puerto Ricans had freedom for a short time but soon was taken over by the United States in 1898 and the end of the Spanish-American War. After visiting Puerto Rico I witnessed three main points of the colonization including language, music, and foods. The country of Spain had the first and longest affect on the island of Puerto Rico. The most obvious and oldest form of colonization would be the Puerto Rican language, which is Spanish. Puerto Ricos native language was Arakwan, which was spoke by the Tainos, but now they speak Spanish even today. Spanish influence on music was brought with religion. Through the religion classical music was introduce to the Puerto Rican culture through the notes and tones in classic gospel music. Spain also introduced spices, seasonings, and herbs along with a variety other foods to the island. Spanish rice and pastas are popular and the now traditional spicier style of foods were introduced to the Puerto Rican culture. After the end of the Spanish-American War in 1898, the United States took over the island of Puerto Rico. I think the United States has had the greatest impact on the colonization of the Puerto Rican people. When I was in Puerto Rico I noticed that almost all of the people in San Juan, also spoke English as a second language, because of this I was able to meet and socialize with two Puerto Rican teens. While hanging out with the two guys they played a Puerto Rican style rap called Reggatone in their car, which originated from the American style of rap, that has artists like Eminem, Tupac, Dr. Dre, and many ot ...

The Problem of Starbucks in Marketing Terms Research Paper

The Problem of Starbucks in Marketing Terms - Research Paper Example Starbucks suffers from being over-reliant on its US market in its generation of sales. The company has also launched new products which were not positively received by the market. It can also be recalled that the company has sometimes failed in its quest to conquer foreign markets. Industry analysts describe that the global arena is fast evolving into a hypercompetitive market. The speciality coffee industry, being still in the growth stage presents a lot of untapped opportunities including new product introduction and technological innovation to enhance customer value. The global market is also unsaturated giving lots of opportunities for expansion for Starbucks and other players. On the downside, there has been increasing competition in the industry due to the proliferation of other participants attracted by the prospects of high profit. Based on the analysis, it is recommended that Starbucks should look into offering new products and serving new markets. The company’s succe ss in venturing to new product areas has been heavily documented. However, Starbucks should also minimize the risk of launching products which are not warmly received by the market through the use of intensive and extensive marketing research to unveil the preferences of the customers. As the American market is also becoming saturated with some players, it is necessary that Starbuck s also look into the introduction of its products in other economies. China is a good target because of its size and rapid development.

Knowledge of Organisational Behaviour Essay Example | Topics and Well Written Essays - 2000 words

Knowledge of Organisational Behaviour - Essay Example This understanding enables them to not only make sense of the behaviour they witness in their workforce, but also to predict it before hand and sometimes even influencing it to reflect the desired level. Thus, it is reasonable to assume that organizational behaviour teaches one how to control human behaviour in an organization. However, it may be unreasonable to label this practice as exploitative, since the control is limited to an organizational setting, and the results are aimed to improving organizational performance, rather than exploitative practice of this knowledge. Organizational behaviour teaches a manager how to analyze and handle several different dimensions of an organization. One of the relatively well-known areas of expertise is the substantial and extensive knowledge of motivation that organizational behaviour has to offer. It offers dozens of theories on motivation, each tailored to specific situations as well as different findings in this area. These range from the classic theories such as Maslow’s Hierarchy of Needs Theory to the more controversial, contemporary theories such as Theory X and Y (Thompson and McHugh, 2002, pp. 10-48). Each of these motivational theories offers a unique insight into an employee’s mind, helping one understand what drives these employees to put effort into their work and then teaching one how to use these teachings to influence employees to exhibit desired behaviour. On the surface, it may seem like a euphemism for ‘manipulation techniques’ that teach a manager how to exploit a person’s predictability and use it to their organization’s advantage. However, the intentions behind organizational behaviour practices should be kept in sight before drawing such evaluations. Discussion Considering an organization with a de-motivated workforce may help one understand the ethical validation of this discipline. Such an organization would have paid employees who have each been designat ed specific tasks, each of which contribute to the organization’s performance and success. This is common amongst organizations that combine technology, creativity, and innovation in their operations. If the employees of such an organization lack motivation, their performance levels will be low, and predictably below the needed levels (Rashid, 2003, pp. 30-55). This would lead to failure of the organization, which could have several detrimental results, which could lead to employees losing their jobs and putting them at as much loss the organization. Thus, teaching a manager to remedy such a problem in a manner, which is beneficial for both the employee and the organization, is not exploitative. Furthermore, these theories do not try to manipulate an employee psychologically on a subconscious level. They do not aim to take advantage of the employee without realizing it, but rather offer this motivation at a conscious level, the influence of which is visible to the employees t hemselves. Other than Pavlov’s Classical Conditioning theory, most of the motivational theories operate on a conscious level and depend on the employees consciously reacting to the situation they are presented with (Huczynski and Buchanan, pp. 5-25). For example, bonus schemes are one of the most commonly used motivational techniques in a workplace. They offer the employee monetary and other similar forms of extra compensation for efficient and

Sudan Scenario Research Paper Example | Topics and Well Written Essays - 2000 words

Sudan Scenario - Research Paper Example Indeed, the entire human social existence is dependent on these issues; hence, it is typical for people to resist any efforts that are made to achieve a resolution (Maiese, 2006). In fact, parties to these conflicts often refuse to compromise or provide room for negotiation with respect to the said intricate matters (Brewer, 2007; Kinnvall, 2004). As a result, either party of the conflict maintains a rigid stand of the other because of the view that failure to do so would threaten their existence. The parties may develop a mutual fear of one another and an intense desire to inflict as much psychological and physical harm on each other as possible (Staub, 2004; Paris, 2001; Maiese, 2003;). Maiese (2006) points out that the gradual effect of these feeling of being under constant threat and hostility from the either group often occupies the daily lives of the parties involved in the conflict and as a result, supersedes their ability to identify any shared problems they might have. Over time, the conflict escalates resulting to the embedment of the facts about the problem within a larger set of identities, beliefs, cultures, and values (Paris, 2001). Additionally, conflicts concerning money, land, or other resources of economic importance begin to take a symbolic shape in amongst or between the parties under dispute (Kaufman, 2001). Maiese (2003) observes that as the conflict progresses over time, the original issues that may have ignited the conflict become immaterial as new causes for dispute are generated within the conflict itself. As a result, the individuals on the opposing side begin to regard each other as foes and may engage in extreme violence. Eventually, Ramsbotham, Miall, and Woodhouse (2011) opine that the parties become unable to resolve the various issues and seeing that there is no forthcoming solution of the conflict, they chose to go to war with a mindset of either winning or losing in the

Pakistan Monetary policy effectiveness in controlling inflation

Pakistan Monetary policy effectiveness in controlling inflation Inflation adversely affects the overall growth, the financial sector development and the vulnerable poor segment of the population. There is clear consensus that even moderate levels of inflation damage real growth Inflation decreases the real income and also induces uncertainty. Considering such adverse impacts of inflation on the economy, there is a consensus among the worlds leading central banks that the price stability is the prime objective of monetary policy and the central banks are committed to the low inflation. Hence the central banks have adopted inflation as the main focus of monetary policy, targeting inflation explicitly or implicitly as and when required. Motive The objective of the thesis is to investigate the linkage between the excess money supply growth and inflation in Pakistan and to test the validity of the monetarist stance that inflation is a monetary phenomenon. The thesis will examine that whether the monetary policy adopted has been effective to control the rate of inflation. In my thesis I would like to analyze the money supply and inflation rates in Pakistan in order to prove the hypothesis. Hypothesis Hypothesis 1 Null Hypothesis: Monetary policy is effective in controlling inflation in Pakistan. Alternative Hypothesis: Monetary policy is not effective in controlling inflation in Pakistan. Hypothesis 2 Null Hypothesis: Inflation is a monetary phenomenon. Alternate Hypothesis: Inflation is not a monetary phenomenon. Introduction This paper examines the role played by the monetary policy in controlling prices. Whether the policy makers have been successful in predicting the behavior of prices effectively or not. For this purpose the model is considered having monetary variables like monetary assets and monetary expansion and inflation as a dependent variable. The model is estimated for the period of 1950-2005. It tries to measure the effective of monetary policy during different regimes. The results indicate that correlation between monetary assets and inflation is not that strong for Pakistan which means that the monetary policy has not been that effective in predicting the price movements in Pakistan. There is a strong need for adjustments by the policy makers. Another result that I got from the study is that monetary expansion and inflation are related significantly and they tend to determine the direction of one another at times but inflation is also related to other factors. These days economies of all countries whether underdeveloped, developing as well developed suffers from inflation. Inflation or persistent rising prices are major problem today in world. Because of many reasons, first, the rate of inflation these years are much high than experienced earlier periods. Second, Inflation in these years coexists with high rate of unemployment, which is a new phenomenon and made it difficult to control inflation. Economic policies tend to increase the general public welfare and monetary policy supports this broad objective by focusing its efforts to promote price stability. The objective of monetary policy in Pakistan, as laid down in the SBP Act of 1956, is to achieve the targets of inflation and growth set annually by the Government. In recent years money supply increased rapidly and some researchers thought this increase in money supply was going to translate quickly into inflation. But inflation did not grow much and empirical evidence shows that shocks to the petrol and meat supply mainly affected inflation. In the long-run the relationship between money supply and price is very strong and their correlation is almost one. Lucas (1995) emphasized the long-term relationship between money and prices in his Nobel Prize lecture by mentioning McCandless and Weber (1995). For the short-term relationship, empirical evidence of relationship between money growth and inflation is weak and unclear. A variety of studies on money demand yield very dissimilar results. As result, it is difficult to establish a straight relationship between these two variables in the short-term. This paper tries to measure the relationship between money growth and inflation for Pakistan. The paper consists of following sections: Introduction, The need to control inflation and the monetary policy in Pakistan, Literature Review, Empirical results, conclusion and recommendations. The need to control inflation Price stability is key to long run growth prospects. Effective management and prediction inflation expectations is required to ensure that the prices are stable. With stable prices, economic decisions can be made with less uncertainty and therefore markets can function without concern about unpredictable fluctuations in the purchasing power of money. On the other hand, high and unanticipated inflation lowers the quality of the signals coming from the price system as producers and consumers find it difficult to distinguish price changes arising from changes in the supply and demand for products from changes arising from the high level of general inflation. High inflation lowers the effectiveness of the market system. High and unanticipated inflation makes it impossible to plan for relatively longer outlook, creating incentives for households and firms to shorten their decision horizons and to spend resources in managing inflation risks rather than focusing on the most productive activities. The competing goals of growth and price stability, which may seem to be at odds with each other, in fact boils down to a single objective i.e. price stability. In this backdrop, there is no surprise that most of the central banks aim at maintaining low and stable inflation. Central banks place more weight and demonstrate increased willingness on controlling inflation relative to output growth, and financial and exchange rate stability. Effectiveness of monetary policy in Pakistan Generally, historical evidence does reflect that Pakistan has been a high inflation and high interest economy given its inherent structural weaknesses. The role and effectiveness of monetary policy appears more visible in the 2000s when financial sector reforms started bearing fruits in terms of a more market based money and foreign exchange markets. Entering the 21st century, the loose monetary policy stance in the face of low inflation, low growth and low twin deficits, along with structural measures to open up the economy and alleviate some first round constraints, triggered the economy on a long term growth trajectory of above 7 percent. Monetary policy stance was however altered as the inflationary pressures started to build up in 2005. At the end of the fiscal year, the economy, which had been showing sustained steady growth since FY01, registered a historically high level of growth (9 percent), average inflation rose sharply (9.3 percent) and the external current account balance turned into deficit (-1.4 percent of GDP). Coinciding with these developments, the fiscal module started to show signs of stress as the fiscal balance was converted into a deficit and the stock of external debt and liabilities, which had been declining since FY00 after the Paris Club rescheduling, began increasing. These indicators largely capture the high and growing aggregate demand in the economy on account of sustained increase in peoples income. With the emerging domestic and global price pressures, SBP tightened its monetary policy after a prolonged gap of a few years. The efforts to rein-in inflation, however, proved less effective due to a rebound in international commodity prices and a rise in domestic food bearing fruits in terms of a more market based money and foreign exchange markets. Entering the 21st century, the loose monetary policy stance in the face of low inflation, low growth and low twin deficits, along with structural measures to open up the economy and alleviate some first round constraints, triggered the economy on a long term growth trajectory of above 7 percent. Realizing the complications of monetary management and adverse global and domestic economic developments, the implementation of SBP monetary policy during FY06 varied significantly from the preceding fiscal years. In addition to the rise in the policy rate, the central bank focused on the short-end of the yield curve, draining excess liquidity from the inter-bank money market and pushing up short-tenor rates. Consequently, not only did the overnight rates remain close to the discount rate through most of the year, the volatility in these rates also declined. These tight monetary conditions along with the Governments administrative measures to control food inflation helped in scaling down average inflation from 9.3 percent in FY05 to 7.9 percent in FY06, within the 8.0 percent annual target. For FY07, the government set an inflation target of 6.5 percent. To achieve this, a further moderation in aggregate demand during FY07 was required as the core inflation witnessed a relatively smaller decline in FY06, indicating that demand-side inflationary pressures were strong. In this perspective, SBP further tightened its monetary policy in July 2006 raising the CRR and SLR for the scheduled banks; and its policy rate by 50 basis points (bps) to 9.5 percent. Moreover, proactive liquidity management helped in transmitting the monetary tightening signals to key interest rates in the economy. For instance, the Karachi Inter Bank Offer Rate (KIBOR) of 6 month tenor increased from 9.6 percent in June 2006 to 10.02 percent at end-June 2007 and the banks weighted average lending and deposits rates (on outstanding amount) increased by 0.93 percentage points and 1.1 percentage points, respectively, during FY07. In retrospect, it appears evident that monetary tightening in FY07 did not put any adverse impact on economic growth, as not only was the real GDP growth target of 7.0 percent for FY07 was met; the growth was quite broad based. At the same time, the impact of the monetary tightening was most evident in the continued deceleration in core inflation during FY07. One measure of core inflation, the non-food non-energy CPI, continued its downtrend from YoY high of 7.8 percent in October 2005, to 6.3 percent at end-FY06, and to 5.1 percent by the end of FY07. However, much of the gains from the tight monetary policy on overall CPI inflation were offset by the unexpected rise in food inflation. On the downside, however, broad money supply (M2) grew by 19.3 percent during FY07, exceeding the annual target by 5.8 percentage points. Slippages in money supply growth largely stemmed from an expansion in NFA due to the higher than expected foreign exchange inflows. The pressure from the fiscal account was due to mismatch in its external budgetary inflows and expenditures. With the privatization inflows and the receipts from a sovereign debt offering at end-FY07, the Government managed to end the year with retirement of central bank borrowings, on the margin. By end-FY07, SBP holdings of government papers were still around Rs 452 billion, despite a net retirement of Rs 56.0 billion during the year. Another major aberration in FY07 emanated from the high level of SBP refinancing extended, for both working capital and long-term investment, to exporters. Aside from monetary management complexities, these schemes have been distorting the incentive structure in the economy. FY08 was an exceptionally difficult year. The domestic macroeconomic and political vulnerabilities coupled with a very challenging global environment caused slippages in macroeconomic targets by a wide margin. After a relatively long period of macroeconomic stability and prosperity, the global economy faced multifarious challenges: (i) hit by the sub prime mortgage crisis in U.S in 2007, the international financial markets had been in turmoil, the impact of which was felt across markets and continents; (ii) rising global commodity prices, with crude oil and food staples prices skyrocketing; and (iii) a gradual slide in the U.S dollar against major currencies. Combination of these events induced a degree of recessionary tendencies and inflationary pressures across developed and developing countries. Policy-makers were gripped with the dual challenge of slowdown in growth and unprecedented rising inflationary pressures. The external current account deficit and fiscal deficit widened considerably to unsustainable level (8.4 and 7.4 percent of GDP). The subsidy payments worth Rs 407 billion by Government, which account for almost half of the fiscal deficit, shielded domestic consumers from high international POL and commodity prices and distorted the natural demand adjustment mechanism. While the government passed on price increase to consumers, the rising international oil and other importable prices continued to take a toll on the economy. Rising demand has cost the country dearly in terms of foreign exchange spent on importing large volumes of these commodities. Rising fiscal deficit and lower than required financing flows resulted in exceptional recourse of the Government to the highly inflationary central bank borrowing for financing deficit. At the same time the surge in imports persisted. As a result, inflation accelerated and its expectations strengthened due to pass through of international oil prices to the domestic market, increases in the electricity tariff and the general sales tax, and rising exchange rate depreciation. These developments resulted in a further rise in headline as well as core inflation (20 percent weighted trimmed measure) to 25 percent and 21.7 percent respectively in October 2008. Considering the size of macroeconomic imbalances and the emerging inflationary pressures, SBP remained committed to achieve price stability over the medium term and thus had to launch steeper monetary tightening to tame the demand pressures and restore macroeconomic stability in FY09. SBP thus increased the policy rate from 13.5 to 15 percent. Literature Review If inflation is considered as a monetary phenomenon then it is the responsibility of the central bank and the fiscal authorities to achieve price stability. If inflation is caused primarily by food price increases, it would appear that the Ministry of Agriculture should play a key role in containing inflation. Analysis of Money, Inflation and growth in Pakistan (Abdul Qayyum) shows that excess money supply growth has been an important contributor to the rise in inflation in Pakistan during the study period, the study used Correlation analysis with the Country of study being Pakistan. In my research I will try to find the correlation between the monetary assets and inflation, and determine whether the policy makers have been successful to use monetary assets as a measure to predict interest rates. Economic Growth, Inflation, and Monetary Policy in Pakistan: Preliminary Empirical Estimates AHMED M. KHALID*states the State Bank of Pakistanis also under pressure to discuss and design a policy that could provide a stable and sustainable economic growth as well as address the necessary conditions to be part of the global economy. Is Inflation in Pakistan a Monetary Phenomenon (M. ALI KEMAL) finds that an increase in money supply over the long-run results in higher rate of inflation and thus provides support for the quantity theory of money. It establishes that inflation is essentially a monetary phenomenon. However, the money supply does not instantly influence the price levels; the impact of money supply on inflation has a considerable lag of about 9 months. While the study shows that the money supply works through the system in less than a year, it also points out that the system takes rather long to converge to equilibrium if shocks appear in any of the three variables, viz., GDP, money supply, and prices. Primary objective of this research is to check the long-run relationship and short-run dynamics between the money and inflation. In the long run money supply impacts the inflation rates. QTM holds in the long Run, which implies that inflation is a monetary phenomenon. In the short run, the impact of money on inflation is not instant; it affects inflation with lags of about 3 quarters. In the long-run the relationship between money supply and price is very strong and their correlation is almost one. Lucas (1995) emphasized the long-term relationship between money and prices in his Nobel Prize lecture by mentioning McCandless and Weber (1995). Certainly in the long run, inflation is considered to be-as Friedman (1963) stated-always and everywhere a monetary phenomenon. However, other authors have pointed to supply-side developments in explaining inflation. This structuralist school of thought holds that supply constraints that drive up prices of specific goods can have wider repercussions on the overall price level. In Pakistan, increases in the wheat support price have been blamed for inflation. As such, the question money or wheat is not merely academic, but has profound implications for economic policy. If inflation is a monetary phenomenon, it is the responsibility of the central bank and the fiscal authorities to achieve price stability. If inflation is caused primarily by wheat support price increases, it would appear that the Ministry of Agriculture should play a key role in containing inflation. In this paper, I would study the relationship between inflation and monetary expansion, to prove that it is not entirely a monetary phenomenon but it is affected by other factors as well. Data Sources and limitations The data covers the period 1950-2005 on a yearly basis. The choice of sample enables us to study the long run relationship between money supply and inflation and short run effects. The period covers the whole monetary policy stance under different rules, and then we also analyze it in periods of different economic growth. We use annual data from 1949-50 to 2004-2005 to investigate the relations between money and prices in Pakistan. The principal data source is 50 Years of Pakistan in Statistics; prepared by the Federal Bureau of Statistics. The other data sources include the regular issues of Economic Survey by Finance Division and Monthly Bulletin by State Bank. Before proceeding further, i would like to point out that the analysis is based on fifty years of Pakistan during which the country has undergone a series of economic and political changes. In particular, there have been significant improvements in the monetary sector as well as its impact on economy in the 1990s. Methodology The tests used will be Correlation Regression Graphical Analysis Model The model used would analyze the inflation against two variables of money supply monetary expansion and monetary assets. Money supply is considered as independent variable. Inflation is considered as dependent variable. Empirical Results Correlation test The correlation between monetary assets and inflation during entire 50 year periods has been as such For a perfect correlation the correlation coefficient should have been + 1 but in this case the correlation coefficient is coming out to be 0.034 which is very near to 0 which shows that the monetary policy is not being effective in predicting the rates of inflation. In the long run money supply is able to determine inflation but in short term it is determined much by the other factors of economy. The linear relationship between monetary assets and inflation is not that strong. There is small correlation which means in the long run it is effective but not in the short run. For effective monetary policy the correlation between money supply and inflation should be one but here the correlation is much less and is nearer to O. Regression Test between monetary assets and inflation This table displays R, R squared, adjusted R squared, and the standard error. R is the correlation between the observed and predicted values of the dependent variable. The values of R range from -1 to 1. The sign of R indicates the direction of the relationship (positive or negative). The absolute value of R indicates the strength, with larger absolute values indicating stronger relationships. R squared is the proportion of variation in the dependent variable explained by the regression model. The values of R squared range from 0 to 1. Small values indicate that the model does not fit the data well. Here the model doesnt fit the data well the R square is very small. The larger the F The larger the F (the smaller the p-value) the more of ys variation the line explained so the less likely H0 is true. We reject when the p-value The F statistic is the regression mean square (MSR) divided by the residual mean square (MSE). If the significance value of the F statistic is small (smaller than say 0.05) then the independent variables do a good job explaining the variation in the dependent variable. If the significance value of F is larger than 0.05 then the independent variables do not explain the variation in the dependent variable. Here the F value is greater that 0.05 which means it is not explaining the dependent variable. Inflation= 6.504 + 0.00* monetary assets The beta coefficient tells how strongly independent variable is related with dependent variable. R2 is a statistic that will give some information about the goodness of fit of a model. In regression, the R2 coefficient of determination is a statistical measure of how well the regression line approximates the real data points. An R2 of 1.0 indicates that the regression line perfectly fits the data. The variation explained by monetary assets in inflation is not much which tells us that the policy has not been that effective. The correlation between the monetary assets and the inflation has not been much significant. Monetary expansion and inflation has significant relationship and at times one determine the other this means that we have to accept hypothesis that it is a monetary phenomenon but add that it is affected by other factors as well like oil and food prices. Why Inflation is alarming and needs to be controlled High and persistent inflation is a regressive tax adversely impacting the poor and economic prospects. The poor hold few real assets or equity, and their savings are typically in the form of cash or low-interest bearing deposits; this group is most vulnerable to inflation as it erodes savings. Moreover, high and volatile inflation has been found to be detrimental to growth and financial sector development. High inflation obscures the role of relative price changes thus inhibiting optimal resource allocation. Inflation hurts growth once it exceeds a certain threshold. A number of empirical studies have established that the relationship between inflation and growth is nonlinear. At low levels of inflation, inflation has either no impact or a positive impact on growth. However, once inflation exceeds a certain threshold, it has an adverse impact on long-run growth. High inflation also inhibits financial development. Financial market institutions are intermediaries that reduce frictions between savers and investors (including adverse selection, moral hazard, or conflicting time preferences). Inflation makes this intermediation more costly because inflation tax lowers long-run real returns. As a result, credit is rationed and financial depth is reduced. As in the case of growth, there appears to be a threshold beyond which inflation adversely affects financial sector developments, while there are no negative effects at low levels of inflation. The adverse effect of inflation on financial development is one mechanism by which inflation can hurt growth. For example, Loayza and Ranciere (2005) find a positive long-run relationship between financial development and growth in a sample of 75 countries. In Pakistan, periods of low inflation are associated with high growth rates and vice versa. Between 1978 and 1991, inflation was 8 percent on average and real per capita growth averaged 3 percent. Between 1992 and 1997, inflation increased on average to 11 percent, while real per capita growth fell substantially and averaged only 1 percent. Finally, between 1998, inflation was reduced again to an average of 5 percent, and real per capita growth displayed a dramatic recovery. Of course, there are other factors that determine growth in the short-run and in the long-run [e.g. van Rooden (2005)]. Nonetheless, Pakistans growth performance has been best when inflation was contained to 8 percent or lower. Conclusion Hypothesis 1 Null Hypothesis: Monetary policy is effective in controlling inflation in Pakistan. Alternative Hypothesis: Monetary policy is not effective in controlling inflation in Pakistan. Result: Reject Null Hypothesis and Accept Alternate Hypothesis. Hypothesis 2 Null Hypothesis: Inflation is a monetary phenomenon. Alternate Hypothesis: Inflation is not a monetary phenomenon. Result: We accept our hypothesis but add here that inflation in Pakistan is not entirely a monetary phenomenon, it is a monetary phenomenon in long run, but in short run it is affected by other factors as well like food and oil prices. The rejection of first hypothesis shows that there need to be steps taken by policy makers to combat the inflation rates. The empirical results presented in this paper show that monetary factors determine inflation in Pakistan. Broad money growth and private sector credit growth are the key variables that explain inflation developments with a lag of around 12 months. A long-run relationship exists between the CPI and private sector credit. The food price affects inflation in the short run, but not in the long run. Recommendations The following areas need attention and are key for effective monetary management. Effectiveness of monetary and fiscal coordination would be helpful. For effective analysis of developments and policy making, timely and quality information is extremely important. Information is not available with desired frequency and timeliness. Also there are concerns over the quality of data. Unlike many developed and developing countries, data on quarterly GDP, employment and wages, etc. is not available in case of Pakistan. Moreover, the data on key macroeconomic variables is usually available with substantial lags. This constrains an in-depth analysis of the current economic situation and evolving trends, and hinders the ability of the SBP to develop a forward-looking policy stance. Unlike many countries, both developed and developing, there is no prescribed limit on government borrowing from SBP. Borrowing from the central bank injects liquidity in the system through increased currency in circulation and deposits of the government with the banks. In both cases, the impact of tight monetary stance is diluted as this automatic creation of money increases money supply without any prior notice. Improve the effectiveness of monetary policy is to prohibit the practice of government borrowings from the SBP. Another issue is to make a clear distinction between exchange rate management and monetary management. It is impossible to pursue an independent monetary and exchange rate policy as well as allowing capital to move freely across the border. Since the SBP endeavors to achieve price stability through achieving monetary targets by changes in the policy rate, it is not possible to maintain exchange rates at some level with free capital mobility. This can only be achieved by putting complete restrictions on capital movements, which is not possible. SBPs responsibility is to ensure an environment where foreign exchange flows are driven by economic fundamental and are not mis-guided by rent seeking speculation. In conclusion, it is imperative that above steps be taken urgently. Over the period, however, this needs to be complemented with much deeper structural reforms to synchronize and reform the medium term planning for the budget and monetary policy formulation process. Several studies and technical assistance have provided extensive guidance in this area, but the lack of capacities and short term compulsions have often withheld such reforms. What is important is to recognize that a medium term development strategy, independently worked out, would help minimize one agency interest which has often been a source of coordination difficulties. It would also help the budget making process more rule based than the incrementally driven process to satisfy conflicting demands.

Migraines: A Complex Disorder Essay -- Headaches Medical Neurology Pap

Migraines: A Complex Disorder If I can only make it to my bed, I'll be fine. My head hurts terribly. I would do anything to stop the pain. I've taken three extra strength Tylenols and the pain hasn't diminished at all. My head is spinning. Ever so often, the world around me turns dim and then bright. I close my eyes. I need to lie down, but I am driving. I feel nauseous. The pain that started on one side of my head is spreading as it pulsates. I squeeze my head and rub my temples, but the pain remains. I wish for a lobotomy. I wish somebody could stop the pain. I'm home. I run to my room. I tie a rag tightly around my head. It doesn't help. I press my head against a wall. I feel like vomiting again. I know relief is coming soon. I pass out. I am a Migraineur, and have been ever since I can remember. Migraine headaches are a type of vascular headache that affects 28 million Americans, 75 percent of whom are women 1) "http://www.ninds.nih.gov/health_and_medical/pubs/migraineupdate.htm">National Institute of Health, a good source of general information on migraine headaches. Annually, migraines cost the American taxpayers $13 billion in missed work and reduced productivity 1) "http://www.ninds.nih.gov/health_and_medical/pubs/migraineupdate.htm">National Institute of Health, a good source of general information on migraine headaches. Migraines are not a disorder unique to overworked Americans. In fact, the World Health Organization identified migraine among the world's top 20 leading causes of disability name="2">2) "http://www.w-h-a.org/wha/info.asp">World Health Alliance, a source of current articles about migraine headaches. According to the World Health Organization, aside from the physiological exp... ...lth Alliance, a source of current articles about migraine headaches 3) "http://archneur.ama-assn.org/issues/v57n8/ffull/nhn8476.html">Archives of Neurology, provides a historical perspective on topics related to neurology (3) 4) "http://www.achnet.org/understanding/">American Council for Headache Education, provides information on all types of headaches 5) "http://www.wfubmc.edu/neurology/migweb2/introduc.htm#INTRODUCTION">Wake Forest University Baptist Medical Center, lecture notes of a professor at the medical school 6) "http://www.migraines.org/myth/">MAGNUM, a good site for individuals who suffer from migraine headaches 7) "http://www.intelihealth.com/">Intelihealth, a site sponsored by Harvard Medical School 8) "http://www.neurologychannel.com/migraine/">Neurology Channel, provides a comprehensive look at migraine headaches

Case Study One- Rio Tinto: Redesigning HR Essay

1. Synopsis Rio Tinto, an international London based mining and mineral company was severely impacted by the global recession in 2008. Such an impact forced unprecedented workforce reductions worldwide and decentralized HR management had to be brought in under a single umbrella to insure an orderly and efficient system that would support the organization’s future productivity. This new proactive approach to management, utilization of technology, and preparation of the employees proved to help save the company and set the stage for continued future operations. 2. Answer the Questions Q1. How did Rio Tinto’s revamping of HR help with minimizing the potential problems with the reduction in force? The entirety of management to engage in strategic human resource planning is what had been revamped in the Rio Tinto organization. Engaging in centralized global planning, maintaining effectiveness, awareness in serving the best interests of the entire organization, and not carrying out decentralized single focused HR at all sixty individual business sites was a positive, yet necessary culture shift leading to increased efficiency. The intention to control issues and serve the best company interests were to maintain integrity, hold down costs (which could have been in legal fights and time), sensitivity to those affected persons and business units, and establish a data management system that handles international staffing and succession planning. What role would an HRIS have to play in managing a RIF? The role of Human Resource Information System(s) in any organization is to give employee asset visibility to enable management decisions and planning easier. In a perfect world, all employee records from hire to decision time would give a more complete picture on all employees past, present, and future value to the organization. The comprehensiveness of a database with all the intricacies loaded in to handle future plans, regional requirements,  training and education, critical skills, performance data, and succession planning allows managers the ability to see exactly where to eliminate positions and personnel that do not add to organizational productivity. Q2. Without a consistent philosophy, policies, and approaches to reduction in force (or any other disruptions in the future) what would the likely reactions from employees be? The first collective employee reaction management will see, whether the entire reduction in force plan is revealed, would be that of the union(s) being up in arms that there will be any employees getting the pink slip. The on the job efficiencies and reduction in productiveness could occur if employees become disenfranchised and are left wondering on whether they have a job tomorrow. Managers and employees who generally have a minor trust issue normally will withdraw from each other, which will result in work team dysfunctional behaviors and creativity will stalemate. If left to its own devices, strikes, walkouts, or employee sabotage could become the extreme results of poorly constructed philosophy, policies, and management approaches. 3. Describe a Similar Personal Experience During the mid-to-end of the 1990s, during my career in the US Army, we had a reduction in force (RIF) that was conducted very poorly. The perceived best interests (Washington politics) for the organization and centralized decisions were implemented without regard for the work units spread across the globe. There was no real use of a common sense approach to succession planning and ultimately we lost an unacceptable amount of mid-level managers that caused a knowledge gap that took nearly ten years to correct. At the time, the HRIS was not fully in place with management understanding the capability of the tools possible in making decisions. Changes since that time have improved in teaching management to leaders and in the near future, a RIF is on the way with the drawdown after we get our forces back here from the Middle East. We should watch and evaluate the historical lessons of the past.

5 Words from the Kitchen

5 Words from the Kitchen 5 Words from the Kitchen 5 Words from the Kitchen By Mark Nichol Words most people associate primarily with the kitchen have multiple nonculinary connotations as well. Here are five words you may find useful in other contexts. 1. Apron This name for a garment worn to protect the wearer’s clothes from food stains (or one that is purely decorative) also applies to similar protective attire. From this usage stems meanings for structures with similar form and/or purpose, including a piece of wood under a windowsill, an extension of a bathroom fixture, the part of a pier or wharf along its edge, an erosion barrier, or the part of a stage that extends past the proscenium arch (the opening between the stage and the audience area). 2. Cook This is not just a verb for the action of preparing food and a noun describing a preparer; it also refers to a process for producing a substance or a material, such as the act of cooking methamphetamines. It’s also a slang term used a as a synonym for happen or occur (â€Å"What’s cooking?†), for doing well (â€Å"That band is really cooking!†), or for falsifying documents, especially financial records (â€Å"He was caught cooking the books†). 3. Glass The word for an often tall, narrow container for drinking liquids from, regardless of material, also applies to the mixture of materials used in making clear or tinted glass. Glass may also apply to another item made wholly or in part from glass or a similar substance, such as a mirror (or looking-glass), a basketball backboard, an hourglass, a telescope (or spyglass), or eyeglasses; a barometer is often called a glass. The word also denotes a container full of a liquid (â€Å"Have a glass of beer†). 4. Plate A plate is a shallow, mostly flat dish for serving food, but it also refers to other usually flat, thin items such as a piece of armor or a body part that is similar to armor, any flat structural piece, a part of Earth’s crust, and precious metal, and has other meanings, including the figurative reference to matters and responsibilities â€Å"I have a lot on my plate right now.† 5. Table In addition to the meaning of a piece of furniture with a flat surface, often used for dining, table refers to any such surface, such as a geographical feature (tableland). It also has figurative meanings for eating (â€Å"Sit down to table†) and assembling (â€Å"Sit at the bargaining table†). Table also refers to a list or an arrangement of data. Table is used as a verb to describe entering data in a table. It also refers, in American English, to remove from consideration during a formal meeting or other procedure; in British English, curiously, its meaning is the opposite: It denotes placing an item on an agenda. There’s also a small but rich list of idioms that include table, including â€Å"lay (one’s) cards on the table† (â€Å"to be candid†) and â€Å"under the table† (â€Å"intoxicated,† or â€Å"secretive†). Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Punctuating â€Å"So† at the Beginning of a SentenceHang, Hung, Hanged30 Nautical Expressions

French Passive Voice †La voix passive

French Passive Voice - La voix passive Voice is a grammatical term which indicates the relationship between a subject and verb. There are three different voices in French and English. In the passive voice, the action described by the verb is being done to the subject by an agent, which is usually introduced by one of two prepositions:1. When the verb expresses an action, the agent is introduced by the preposition par:Active voice  Ã‚  Ã‚  David fait le mà ©nage.  Ã‚  Ã‚  David is doing the housework.Passive voice  Ã‚  Ã‚  Le mà ©nage est fait par David.  Ã‚  Ã‚  The housework is done by David.Active voice  Ã‚  Ã‚  Lise lit le livre.  Ã‚  Ã‚  Lise is reading the book.Passive voice  Ã‚  Ã‚  Le livre est lu par Lise.  Ã‚  Ã‚  The book is read by Lise.2. When the verb expresses a state of being,  the agent is either introduced by de or left out entirely:Active voice  Ã‚  Ã‚  Tout le monde le respecte.  Ã‚  Ã‚  Everyone respects him.Passive voice  Ã‚  Ã‚  Il est respectà © de tout le monde.  Ã‚  Ã‚  He is respected by everyone.  Ã‚  Ã‚  Il est à ©minemment respectà ©.  Ã‚  Ã‚  He is highly respected.Active voice  Ã‚  Ã‚  Mes amis aiment ma mà ¨re.   Ã‚  Ã‚  My friends love my mother.Passive voice  Ã‚  Ã‚  Ma mà ¨re est aimà ©e de mes amis.  Ã‚  Ã‚  My mother is loved by my friends. How to Conjugate the French Passive Voice The passive voice is formed with the conjugated verb  Ãƒ ªtre   the  past participle. The past participle has to agree with the subject, not the agent, in gender and number, just like  Ãƒ ªtre verbs  in the  passà © composà ©Ã‚  (more about agreement):  Ã‚  Ã‚  Le livre est à ©crit par des lycà ©ens.  Ã‚  Ã‚  The book is written by high schoolers.  Ã‚  Ã‚  La vaisselle est faite  par Henri.  Ã‚  Ã‚  The dishes are done by Henri.  Ã‚  Ã‚  Les enfants sont nourris  par Luc.  Ã‚  Ã‚  The kids are fed by Luc. To use the French passive voice in any other tense or mood, just conjugate  Ãƒ ªtre  accordingly: Active voice Passive voice prsent Anne fait la tarte.Anne makes the pie. La tarte est faite par Anne.The pie is made by Anne. pass compos Anne a fait la tarte.Anne made the pie. La tarte a t faite par Anne.The pie was made by Anne. imparfait Anne faisait la tarte.Anne was making the pie. La tarte tait faite par Anne.The pie was being made by Anne. futur Anne fera la tarte.Anne will make the pie. La tarte sera faite par Anne.The pie will be made by Anne. subjonctif Je veux quAnne fasse la tarte. I want Anne to make the pie. Je veux que la tarte soit faite par Anne.I want the pie to be made by Anne. How to Use  the French Passive Voice Now that you know about prepositions and agents and how to conjugate the passive voice, its on to more practical matters. The French passive voice may be used for two reasons:A)  To put more emphasis on the person or thing performing the action:Active:  Un enfant a à ©crit ce livre.  - A child wrote this book.Passive:  Ce livre a à ©tà © à ©crit par un enfant.  - This book was written by a child.B)  To focus on an action without identifying the performer:  Ã‚  Ã‚  Ã‚  Jean a à ©crit ce livre.  - Jean wrote this book.  Ã‚  Ã‚  vs  Ã‚  Ã‚  Ã‚  Il a à ©tà © à ©crit en 1927.  - It was written in 1927. How to Avoid the French Passive Voice The French passive voice has a slightly formal or  literary  tone and is used less frequently than in English. There are several alternatives to the passive voice (besides the active voice): A)  To focus on the performer, use  cest:  Ã‚  Ã‚  Ã‚  Ce livre a à ©tà © à ©crit par un enfant. Cest un enfant qui a à ©crit ce livre.  Ã‚  Ã‚  This book was written by a child. Its a child who wrote this book.  Ã‚  Ã‚  Ã‚  Le record a à ©tà © battu par une femme. Cest une femme qui a battu le record.  Ã‚  Ã‚  The record was beaten by a woman. Its a woman who beat the record.B)  To avoid identifying the performer, there are two options:  Ã‚  Ã‚  Ã‚  1.  On (impersonal subject pronoun)  Ã‚  Ã‚  Ã‚  Ce livre a à ©tà © à ©crit en 1927. On a à ©crit ce livre en 1927.  Ã‚  Ã‚  This book was written in 1927.  Ã‚  Ã‚  Ã‚  Ils ont à ©tà © pardonnà ©s. On les a pardonnà ©s.  Ã‚  Ã‚  They have been excused.  Ã‚  Ã‚  Ã‚  2.  Se (passive reflexive)  Ã‚  Ã‚  Ã‚  Ce livre est souvent lu. Ce livre se lit souvent.  Ã‚  Ã‚  This book is often read.  Ã‚  Ã‚  Ã‚  Les mà »res ne sont pas vendues ici. Les mà »res ne se vendent pas ici.  Ã‚  Ã ‚  Blackberries arent sold here.

Orginizational Development The Process of leading Organizational Essay

Orginizational Development The Process of leading Organizational Change Case Study 6 & 7 - Essay Example The new Hire will work under the Human Resource Management officer generalist. The new employee will focus on career planning, compensation, etc. each group. The client feels the change culture has been managed well at this point. The client, Susan, segregates the Human Resource employees under different functions. The functions include sales and marketing (Paula Washington), Linda Andrews (Software Engineering), and Matthew Williams (Distribution). Each group is helped by a subordinate support team. The new model serves the different internal departments running the entity’s ASP Software business. Each group will have more focus on different assigned tasks. Susan focuses on people reduction to save on salary and other related expenses (Anderson, 2011). In addition, the management team feels happy with the organizational design and culture, especially employee reduction. The company is able to save on salary expenses. The company will save on other related exp enses. Management will increase profits with the reduction. However, the employees have anxiety over the reduction. They feel they may be included among the â€Å"retrenched† employees. The fear change may disadvantage them. The job change will cause stress as the employees learn their new job responsibilities. Susan has done segregating the employees under one homogenous function to improve the quality of its services. One department is called Corporate Functions. Another department is Distribution. A third department is Sales and Marketing (Anderson, 2011). However, Susan should have done differently. Susan should have instituted a brainstorming session. The brain storming session allows all affected persons to contribute their suggestions. Everybody is free to contribute their criticisms and disappointments. An intervention strategy is highly recommended to Susan to improve the current organizational chart’s effectiveness and

Auditing Essay Example | Topics and Well Written Essays - 2000 words - 2

Auditing - Essay Example The Big 4 dominate the auditing industry to such an extent that policy makers are worried about the effects of a possible reduction in their number. Questions such as pricing power, bargaining power, quality of audits, the independence of audited financial reports and other matters that usually attend to an oligopoly has bedevilled government regulators and industry experts alike. This paper looks at some of the outstanding issues facing an industry with few market players, especially on the possible scenarios when any of the Big 4 exits the market altogether for whatever reason. The Big 4 auditing and accounting firms, together with professional and accountancy organizations, are actively promoting positive reforms in both their accounting and reporting standards to improve credibility and confidence in audited financial reports. At present, these big four comprise an oligopoly that dictated prices for their services. In classical economic theory, this is an imperfect competition where a few sellers can manipulate prices if they want to. Economists call it as the concentration ratio or C4 in which the four biggest firms control more than 60% of an industry similar to aircraft manufacturing and telecommunications. In fact, a report by the General Accounting Office (GAO) of the US (renamed now to General Accountability Office in 2004) indicated concentration to be higher, approximately 78% of all the publicly-listed companies that constituted 99% of all public company sales (Bloom & Schrim 2005) and has serious implications with regards to the risks for collusion. The GAO report was commissioned in response to the passage of the Sarbanes-Oxley Act the previous year and also due to concerns about the effects of audit mergers and consolidation on competition, cost, quality, pricing and the cherished principles of auditor independence. Due to the few market players in an oligopoly, the action of one market participant tends to be known by