Love Song of J. Alfred Prufrock Essay A Beautifully...

nbsp; The Love Song Of J. Alfred Prufrock : A Beautifully Complicated Masterpiecenbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; nbsp; The Love Song of J. Alfred Prufrock, by T.S. Eliot is a beautifully complicated masterpiece. The poem rises above all standards of poetry and completely blows your mind. The poem consists of twenty stanzas, each telling a different part of the story of J. Alfred Prufrocks life. nbsp; Eliot uses many poetic devices to add a hint of magic to the sound of the poem. The diction he uses turns what seems to be a normal poetic work of art into a dream where everything flows together like magic. An example of his diction would be Eliots powerful use of metaphor in lines 15 - 25 of the poem.†¦show more content†¦nbsp; Time for you and time for me, And time yet for a hundred indecisions, And for a hundred visions and revisions, Before taking of a toast and tea. nbsp; The soft i sound illustrates the lengthiness that time has. Time can be short, but it can be long, also. The soft i sound has a sound that stretches things out. This is also used in lines 47 and 48; In a minute there is time for decisions and revisions which a minute will reverse. nbsp; Another poetic device that Eliot uses frequently is rhyme. It is most powerful in the twelfth stanza; And the afternoon, the evening, sleeps so peacefully! Smoothed by long fingers, Asleep... tired... or it malingers, Stretched on the floor, here beside you and me, Should I, after tea and cakes and ices, Have the strength to force the moment into crisis? But though I have wept and fasted, wept and prayed, Though I have seen my head (grown slightly bald) brought up in a platter, I am no prophet---and heres no great matter; I have seen the moment of my greatness flicker, And I have seen the eternal Footman hold my coat, and snicker, And in short, I was afraid. nbsp; The rhyme scheme is a-b-b-a-c-c-d-e-e-f-f-d. It emphasizes several aspects of life. The rhyme of fingers and malingers would not be as powerful as it is if it was separated. It suggests that life sort of creeps slowly sometimes, it malingers. The rhyme of ices and

Ethics Of Robot Companionship And Elderly Care - 1081 Words

Ethics of Robot Companionship and Elderly Care 1. The Ethical Issue The elderly population is growing in the United Sates. According to the Department of Health and Human Service, the older population –people aged 65 and over– â€Å"represented 14.1% in the population in the year 2013 and are expected to grow to be 21.7% of the population by 2040† (â€Å"Administration on Aging† 1). And since many adult children live far away from their parents, some people suggests that using robot as companies can ease the burden on adult children and assist elderly people who do not have family members to care for them. In fact, there are companies that are developing such robots. Toyota, the Japanese automotive manufacturer, is developing robots that can â€Å"help carry elderly or provide mobility support†(A Robot Is My Friend† 1). Some elderly people are already using companion robots. For example, in a European Union-funded project, 94-year-old Nonna Lea has a GiraffPlus robot as her companion. The robot and her home ar e equipped with sensors that can detect the health condition of Nonna, like measuring the blood pressure, oxygen levels in the blood, and blood sugar level. The system also has environmental sensors that can track whether someone is in a certain room, indicate the use of house appliances and monitor whether doors and windows are closed. Moreover, it can connect her to her family, friends and healthcare professionals (Robots Are Caring for Elderly People in Europe 2). Operators ofShow MoreRelatedThe Aging Population : Baby Boomers Essay1589 Words   |  7 Pagesratio quickly decreasing to the care recipients, there must be solutions to counteract the amount of decreased workers. The first one is education; education is a pathway to better knowledge. Therefore, more emphasis on geriatric education will increase awareness for the elderly and the upcoming trials to support them. Also, spreading more important information about the elderly via social media would be efficient in this mod ern time. Next is the integration of robot caregivers. Several other countriesRead MoreHow Robots Can Solve The Problem Of Aging Population2349 Words   |  10 Pagesspeed. We are already used to have robots surrounding in our life, they are in movies, factories and as household objects. The development of autonomous robots have benefit our live in many different ways. However, there are downsides of having robots replaced the tasks that were done by human and it comes along with some ethical issues. This paper will firstly discuss about how robots can solve the problem of aging population, the benefits and reasons why robots will not yet replace human as nursingRead MoreRobot Ethics and Ethical Issues5299 Words   |  22 PagesROBOT ETHICS AND ETHICAL ISSUES ABSTRACT Robot ethics is a branch of applied ethics which endeavours to isolate and analyse ethical issues arising in connection with present and prospective uses of robots. These issues span human autonomy protection and promotion, moral responsibility and liability, privacy, fair access to technological resources, social and cultural discrimination, in addition to the ethical dimensions of personhood. INTRODUCTION Robots are machines endowed with sensing, informationRead MoreDeveloping Management Skills404131 Words   |  1617 Pageswanted to identify the skills and competencies that separate extraordinarily effective performers from the rest of us. We identified 402 individuals who were rated as highly effective managers in their own organizations in the fields of business, health care, education, and state government by asking senior officers to name the most effective managers in their own organizations. We then interviewed those people to determine what attributes were associated with managerial effectiveness. We asked questions

Market Portfolio of Ghd and United Colour of Benetton Free Essays

string(96) " us to place ever more importance on the way we look, how we present ourselves and how we feel\." This portfolio looks at the advertising approach of two contrasting companies. The companies that will be discussed are United Colours of Benetton and GHD. These are both popular global firms. We will write a custom essay sample on Market Portfolio of Ghd and United Colour of Benetton or any similar topic only for you Order Now 1. 1 United Colours of Benetton: Benetton is present in 120 countries around the world.Its core business is fashion apparel: a group with a strong Italian character whose style and passion are clearly seen in its brands, the casual United Colours of Benetton, the glamour oriented Sisley, the leisurewear brand Playlife. The Group produces over 150 million garments every year. Its network of around 6,000 contemporary stores around the world offers high quality customer services and generates a total turnover of over 2 billion euro. The Benetton team create new lines for different targets from children, men and women to expectant mothers, offering them not only practical and modern styles but also maximum comfort. Benetton, 2009) 1. 2 GHD: GHD is the brand behind the world’s favourite styling irons, the ‘can’t-live-without’ hair and beauty accessory. It is adored by celebrities and favoured by stylists. GHD was established in 2001 when a small business in West Yorkshire, discovered ceramic hair-styling technology. GHD irons were so effective that despite supply difficulties and with virtually no marketing, they became an immediate success. (SuperBrands, 2006) 1. 3 Company 1: 1. 4 Benetton Advert: The advert being discussed here is one of Benetton’s TV adverts, (Appendix 1).The media used to publish this advert are television, magazines and billboards. You also view the same ad that was published in magazines around Europe, (Appendix 2). Looking at this TV advert it is clear United Colours of Benetton offers casual wear in all kinds of loud colours (hot pink, neon green, bright yellow, etc). Their models are of different races (i. e. Africans, Americans, Asians, etc), depicted holding hands, laughing, and engaging in fun playful manner. This reflects what Benetton stands for, a global brand with customers from all religions, races and nationalities.From the beginning Benetton has shown interesting ideas with a promotional concept that unites all people. (Benetton 2003) The TV advert shown in the appendix, collaborates different images of young women of multicultural ethnicities wearing Benetton’s colourful clothing. The theme is promoted by incorporating uplifting music (Basement Jaxx, Do Your Thing) and images of girls of different ethnicity having a good time. This ad shows Benetton’s interest in fashion, clothes and cultures, by blending these together in the advert they are communicating the message that everyone can wear Benetton.The advert targets young females aged 21-30 of all different ethnic backgrounds. The target audience is reflected in the ad itself, which features young females from culturally diverse nations colorfully dressed in Benetton attire. By linking the varying colours in the Benetton collection to the diverse â€Å"colours† of its world customers, the advert portrays a picture of racial harmony and world peace. The purpose of advertising is to increase sales. According to Marc Gobe (2001), bright colours and loud music are used to capture the target audience’s attention.Looking at this Benetton ad, the colours red and yellow stand out. These are two colours psychologically proven to be arousing; they are stimulating and attract the eye faster then any other colour. Benetton also use uplifting music in this TV ad. The song used is loud, fun and energetic, it stimulates emotion for those not seeking information about the product, distinguishing the product and drawing consumer interest at the same time. 1. 5 Company 2 1. 6 GHD Advert: This GHD advert runs in a number of top women fashion magazines including, Vogue, Elle, and Marie Claire.Other marketing activity includes online, TV, and packaging. (Appendix 3 to see advert) For 2009 GHD have acquired a ‘twisted fairytales’ theme which features iconic fairytale characters such as ‘Red Riding Hood’, ‘Rapunzel’, and ‘Cinderella with GHD styled hair. ’ They have attempted to sex up the original fairytale images in order to promote a modern twist of rebelliousness. The campaign features as a full page magazine spread as well as being broadcasted on TV featuring red riding hood to an analogous dark background holding a bloody axe.Each advertisement is accompanied by a large poem related to the fairytale, but rhyming with the subject of hair (Appendix 3). A large poem is displayed in white writing above the character; the poem twists the original fairytale story to relate it to this modern sassy fairytale . The advert incorporates the strapline â€Å"You can do anything with your hair† with red riding hood standing in the middle with stylish clothing and great looking glossy hair. The advert is attempting to promote that anything is possible with GHD which parallels the view that anything is possible in fairytales. GHD Styler Stockists, 2009) The audience being targeted in this advert is sophisticated and empowering fashion conscious females aged 18-30 from magazines. By publishing in several magazines from Heat to Vogue, there is assurance that they have a large media coverage which aims at different age groups and appeals to females of diverse demographics. GHD strengtheners are some of the most expensive in the market; they must therefore ensure they present the advert in a way that captures the exclusivity of the product. (Emily Berisford, 2008) The advertisement uses young fashionable models which mirror the image of their target audience.The advertisement expresses female empowerment rather than the objectification of women as sexual objects as feminism is about independence and control. Character’s in fairytales are portrayed as vulnerable and powerless women relying on heroic figures to save them. GHD have slanted the fairytales to conform with a contemporary view of female empowerment which is representative of today’s society. GHD use the strapline to encapsulate the key benefit of using GHD, that whatever nature has given you, GHD can improve it. In cooperation with this, GHD display young clad models, mirroring the needs of the target audience.This is important in marketing efforts as we now live in a culture that applauds beauty, and has forced us to place ever more importance on the way we look, how we present ourselves and how we feel. You read "Market Portfolio of Ghd and United Colour of Benetton" in category "Papers" GHD communicates a message of confidence and independence to women; this is likely to inspire women, creating an emotional link to the advert, increasing GHD’s brand awareness amongst their target market. 1. 7 Theories of consumer behaviour and purchasing: Benetton associates cross-cultural values with their brands to drive consumer behaviour.Advertisers such as Benetton GHD must be fully aware that promotions follow a pattern in the mind of the audience. This is explained using a model called the â€Å"hierarchy of effects†. This model suggests consumers pass through different stages before making a purchase. The first stage is cognition, where awareness and knowledge of the product is created. The second stage is Affect, which assesses liking and preference towards the product. The third stage is Connotations, referring to conviction and then the purchase of the product. (Bradley, 2007)At the cognition stage in the hierarchy of effects, Benetton try to get consumers to identify with the advert through shared values. This Benetton advert is designed to convey different ideas of what the brand represents, various cultures, races, and lifestyles are invited to identify with it. Benetton recognise there is potential for advertising to be effective when directed at consumer’s values. The ad attempts to pitch the idea that by carrying a Benetton label on your clothing, people will recognise the brand and associate it with the â€Å"ideology† conveyed in the advertisements, in Benetton’s case, racial equality.The message depicted strongly in the ad is that of equality, regardless of where you are from, as a well known global marketer, this is likely to correspond with most of their target markets values; therefore their advert will be likable, transferring the potential customer to the brand, creating recognition of the advertisement. The next stage is affect, consumer values and those conveyed by Benetton are aligned, this creates a positive carryover to liking the brand. Benetton use value-driven advertising, which customers are likely to respond positively to, creating preference for the label. Rosemary Polegato, 2006). This can be reflected in their sales increase, it’s estimated that Benetton’s sales increased by $200 million from 1990 to 1991 alone due to this and other similar adverts that conveyed the same message. What Benetton do to influence the connotation stage and get consumers to identify with the advert and purchase their products, is intimately and individually target their audience. Benetton use emotional branding in their adverts, so that consumers feel they share the same values as Benetton, and this can be reflected by buying their products.The use of models of all different ethnicity to promote the Benetton brand shows that they are culturally relevant, socially sensitive, and aim their clothing to anyone and everyone in the world. This is likely to create conviction to purchase as approval is gained from being ethical, and through purchasing Benetton items consumers will feel they are buying into an ideology and becoming part of a club for human betterment. (Grissett, M, Sarthou, G, 2000) (Rebecca Stanfel 2000) 1. 8 Theories of consumer behaviour and purchasing: At the cognition stage, recognition and recall of advertising takes place.This GHD advert has created awareness amongst its consumers by using several media methods to connect with their target audience. The second stage is the affect stage, at this stage GHD’s target members know what the product is, and will therefore know how they feel about it having seen the advert. Ideally, at this stage GHD would like the audience to have understood the message from their advert, from its dexterous poetry, and compare the benefits of these straighter over competition. This is not the purchasing stage as it will all depend on the type of product.Although the ad may be successful, it can only bring the potential customer to the seller. GHD straighter come at a high price and are not something you purchase everyday, only when necessary, there is more thought compared to if you’re purchasing something like consumable purchases. The final stage is the conation stage. Having successfully communicated with the target audience, it is possible that the consumers might prefer the GHD product but not develop a conviction to buy it. GHD’s job in the advert is to build conviction among the target audience.Some members of the target audience might have conviction but not quite get around to making the purchase. This may be because they are happy with the straighter they already possess, or it could be because their waiting for more information or plan to act later. GHD’s ultimate goal here will be to create sales by getting consumers to commit to purchase, they could offer the product at a low price, offering a premium, or they could offer free testing in a hair salon as the customer will be able to assess the benefits for themselves which may push them to buy it.Thus advertising is thought to work and follow a certain sequence whereby the prospect is moved through a series of stages in succession from unawareness to the purchase of the product. Overall the GHD campaign was successful with a turnover of over ? 115 million indicating the first three stages were successful. (Ghd, 2009) 1. 9 Assessment and measurement of advertising impact: This section of the portfolio will assess and measure the impact of the Benetton advert. This can be done by turning to qualitative and quantitative methods.Quantitative research can measure cognition, affect and conation which makes it a strong tool for measuring the impact of an advert. By carrying out quantitative research, Benetton could see the frequency of purchases and number of users of their products after the advert was launched. It would measure the strength of their brand by analysing reactions due to the advert. Quantitative research can be carried out in many ways including in store questionnaires, telephone interviews and many others.Another method Benetton could use to measure the impact of this advert is qualitative research. Qualitative research gather’s an in-depth understanding of human behaviour, it would enable Benetton to look at why people act positively or negatively towards their advert. Focus groups, in-depth interviews, and content analysis are among the many approaches used in qualitative research. Benetton could use focus groups to ask respondents their views of the advert. Respondents may offer criticisms towards Benetton’s advertising technique as they may not like the approach used.For instance some of the audience may respond negatively, arguing that Benetton’s logo transforms any social awareness propaganda in the ad into a marketing tool for profits. Secondary data can be used to analyse conation through consumer transactions. This will show Benetton the number of repurchases of their products, by doing this Benetton will be able to see whether or not their adverts are having a positive impact enough to push the consumer to purchase their products. If the figures are low, they will know that the adverts are not working and need to be looked at. Bradley, 2009) 2. 0 Assessment and measurement of advertising impact: In order for GHD to measure the effectiveness of their advert they could look at what the consumers impressions are of the product. This can be done by conducting qualitative research, which looks at the responses behind consumer purchasing. One method is focus groups, this method allows concepts to be proposed to respondents. Another method is depth interviews, which is used in conjunction with focus groups and directly linked to the respondent’s personal detailed response.Another way of assessing the impact of the GHD ad would be to look at what the consumer decided to do as a result of the advert. This can be measured through secondary data analysis which looks at consumer transactions on databases. If GHD used this method, they could see whether their advert was successful enough to persuade the consumer to purchase their products. To assess the impact of the advert, GHD would need to look at the ‘affect’ their advert had by measuring the target groups response through the frequency of purchases.GHD would need to look at the link between the intended effect of the advert and the actual behaviour of the target group. This can be done via quantitative research on the sales figures since the advert was published, compared with previous figures and whether they have increased. The quantitative methods of research that could be used are telephone interviews, postal research, and internet. (Branthwaite, A, 2001) How to cite Market Portfolio of Ghd and United Colour of Benetton, Papers

Meaning Purpose of Taxation and Impacts on the Australian tax †Free S

Question: Discuss about the Meaning and Purpose of Taxation and Impacts on the Australian tax. Answer: Meaning and purpose of taxation Taxation is referred to coercive or compulsory collection of money by the levying authority. The government regulatory authorities impose a tax on the income of individuals or companies. The government uses the taxation to discourage or encourage economic decisions. The taxation term is applied to all involuntary levies. Taxation is different from other forms of payments such as the market exchanges (Avi-Yonah, 2007). The government induces taxation through the explicit or implicit threat of force. The tax system and process are different in different countries. Taxation in the modern system occurs on both the physical assets such as specific events and property. The formulation of the tax rules and regulations is of the most contentious and critical issue in the modern politics. The primary purpose of the taxation is to enable the government to collect funds and use the resources for the welfare of the public. The government uses the tax funds to support the expenses relates to tech nology and building infrastructure, public safety, military programs, education and environmental protection. Local, state and national governments collect the tax amounts to stabilize the economy of the country. The collection of the tax revenues ensures that the government has enough to meet the needs and provide protection to the citizens. The other main objective of taxation is an equal distribution of the wealth among the citizens. The tax funds are also used to support the regulatory bodies, build defenses and raise armies. The proponents of taxation progressive levels on the high-income groups argue that tax encourages equitable society. The tax on specific goods and services such as gasoline or tobacco have been justified as the limiting on consumptions. Smart autonomous robot As per the Paragraph 1 of the Australian Taxation law, the motion of the resolution is depicted to be suggesting that the smart autonomous robots are conducted by showing the appropriate subcategories which are being considered as the form of the intelligence reports. It is depicted to be showing the acquiring of the autonomy by the help of the sensors, and also the engaging of the connectivity is being determined by showing the appropriate construction of the trades and the analysis of the types are being considered in the form of the data (Cockfield, 2016). It is also identified as the self-learning which is showing to be illustrating the enhancement of the work and also the explanation of the work. It also explains the appropriate way by showing the illustrations of the work which is being made by showing the enhancement of the work and also the explanation of the work is being made by showing the explanation. The adaptations made regarding the behavior are showing the various act ions regarding the environment of the study. It also explains the structure which is showing the enhancement of the study and also the common definition as explained in this case is depicted to be illustrating that the robots are not any real consensus (Engdahl, 2011). The terminological definition can be easily provided by illustrating the explanation of the subject which is being used for showing the explanations of the ability which is being defined as the structure of the work. The considerations are provided by showing the complex notions which are being used for showing the explanation of the study which is depicted to be showing the operational autonomy. Thus the complex notions can be easily defined by the Recital R in the motion of the resolution as undertaken in this study (Woellner, Barkoczy, Murphy, Evans, Pinto, 2016). Impacts on the Australian tax base The advent of advanced technologies has brought significant changes in the business world it revolutionized the business world by providing substantial facilities that improve the efficiency and accuracy of the core operational activities of the business organizations. Moreover, as the technological advancement provides significant advantages to the business communities, the entire business organizations are installing these technologies within their organization in order take the opportunities and advantages given by the advanced technologies (Barker, 2007). In this matter, the latest computer technologies, the internet, along with information and communication technologies are most important as these provide significant contribution to improve the efficiency of the business as well as provide substantial advantages to the business organization. It leads the automation of the industry sectors as well as in this context the advent of robotics technologies plays vital role it helps in automating the operational activities of the business organization. The entire sectors are taking the advantages of the automation and the advanced technologies, but the manufacturing sectors especially apply these technologies in order to improve the efficiency of the business. The advanced technologies especially the robots help in improving the efficiency of the manufacturing sectors as it helps in improving the production of the business organization. The use of robot along with other business automation processes improve the efficiency of the operational activities of the business organization, and it has dropped significant impact on the production of the business organization as well as the whole process of the business organization. Therefore, with the help of the robots as the efficiency of the business organization improved thus, the productivity of the business organization is also improved and so as the profitability of the business is also improved (Krever, 2007). As a result, the sustainability quotient of the business organization is also improved with improved profitability. In this context, all the business organization is intended to deploy an effective robot within the organization that can perform more jobs at a time with required efficiency and accuracy instead of recruiting human employees. Hence, the requirements of the human employees are gradually reducing, and the managements of the business organizations are trying to deploy robots instead of human employees. It has brought significant impact on the society various systems of the government as well as society are also affected considerably. Furthermore, it has brought significant risk to the workforces across the countries (Von Glahn, Taulbee, 2017). The developed countries have felt more impact of the robotics and the advanced technologies. Moreover, as per the CSIRO reports, it is predicted that at least 50% of the Australian workforces are at risk due to the computerization plus automation. In this context, various systems of the government will feel the impact of this computerization as well as automation of the business world. Furthermore, the taxation system of the government, which is one of the most important systems will feel the impact even more. The reason behind this is that the robots are getting the jobs the human employees used to do. The human worker, currently placed in the post of proposed robots earn income from his/her activity within the business organization. Moreover, he/she pay tax on the income he/she earned from the job as income tax, which one of the important tax and significant tax resources for government fund. Apart from the income tax, the individual workers pay social security tax as well as other levies as per the rules and regulation prescribed by the Australian Taxation Office (ATO). In the case of the robotics and automation, the government may miss the taxation payments so huge amount of taxation wealth will be reduced.In order to redu ce the impact of robotics and automation, the government should impose the tax on the robots as the government taxed on the human workers. Tax on autonomous robotic workforce The smart autonomous robotic workforce should be taxed, and the companies that are using the technology should pay the tax on the income generated with the help of the robots. For example, if the workers do $100000 of work in a company that income is taxed and if the robots carry out the same thing, then they should be taxed at the similar level. Thus, it can be stated that if the robots carry out the same work, then the government should tax the robots at the similar level. The companies would be responsible for paying the tax on behalf of the robots. According to Bill Gates, the tax revenue will come from the companies that are using the robots and not employing human workers (Fahimi, 2010). The tax can be levied against the companies that the develop the robots. He has also stated that the tax revenue can be used to help the people who have lost their jobs due to the increase in the use of the autonomous robotic workforce. The companies are generating income and profits from the u se of the robots, and they should pay the tax. If the companies will not pay tax, then there would be an unequal distribution of income and increase in unemployment. The tax revenue will be used for helping the people who need help. The government of Australia should impose a tax on the companies that are using robots and developing the machines for their own purpose. The people in the country will lose their jobs if the companies use the machines as well as they will not pay tax for the welfare of the people. The consequence will be negative as the companies will carry out their jobs for their own benefit. The autonomous robotic workforce can work 24*7 that will increase the profitability of the company (Macintosh, 2011). The co-founder of the Microsoft is saying that the resources and the labors must be replaced by the automated machines which are depicted to be redirected towards the framing of the work which is being used for showing that the essentiality is being made by showing the redirections of the roles. The enhancement of the taxation system is being implemented for the purpose of showing the enhancement of the taxation system by increasing the flow of the work (Gifford, 2013). The advantages though can be easily gained, but still, the structure is depicted to be showing the enhancement of the structure of the study as it is being illustrated in this case. The companies that are involved in the formation of the structure is determining the appropriate purpose of describing the increment of the income for the various companies. But the studying of taxation system is showing the appropriate illustration of the robotic workforces that suits the best levels of the organization, and also it enabl es the establishment of the appropriate structure for showing that the income tax must be collected from the work made by the robots (Hockett, 2009). The adjustments are made by the Bill Gates by the declarations made that the income made from the robots will be taxed and also the distribution of the tax will be made on the average income made from the robot on the monthly basis. This will also show the efficient taxation system which will be ever implemented on the terms of the goods and the services. It can be easily taxed by showing the appropriate taxation system which must be appropriately involved by showing the enhancement of the study in a unique way and also is enabled to define the values that are requisite for the enhancement of the study. This simply is explaining the appropriate structure of the robots in an appropriate way which will show the appropriate formation of the taxation in the form of the goods and the services which will be provided by the robots. This will enable the companies to show the growth in the country and also will be enabled to define the appropriate characteristics as undertaken for determining the case. This the human empathy is being determined by showing the formation of the taxation system as launched in this system and also the unique characteristics can be implemented in the form of the taxation system as defined by the Bill Gates (Woellner, 2007). Bill Gates also believe that the best solution to the issue is to make the autonomous robots to pay their shares. The economy should depend on the workers that will contribute to the healthy economy and development of the people (Oppenheim, Jennings, Watts, 2008). The tax treatments should be based on the income generated by the companies and need of the people in the economy. The tax revenue will be used for providing special assistance and care to the children and elderly people (Shaw, 2003). The companies that are using robots and developing robots will pay the tax on the basis of the profit generated by the company from the utilizing of the autonomous robotic workforce. It has also been stated by Bill Gates that will not hamper the innovation. The government should implement rules and regulations for imposing a tax on the companies. The regulatory bodies should be responsible for imposing tax on the autonomous robotic workforce. Many regulatory authorities have rejected the tax on the company with the view that it will impose a negative impact on employment and competitiveness. Depreciation Depreciation is the accounting method to allocate the cost of the assets over the useful life. The organizations depreciate the long-term assets for accounting and tax purposes. The depreciation shows the exact value of the assets that are used over time (Woellner, 2005). Purchasing cost of the robotic machine= $500,000 Market value = $300000 Depreciable amount of the robotic machine= $500,000 - $300000 = $200,000 Depreciation expense = $200,000/8 = $25000 The depreciation expense of the robotic machine has been calculated by using the prime cost method. The prime cost method assumes that the value of the depreciating asset diminishes uniformly over the effective life. The purchasing prices, market value and useful life have been given for the machine (Woellner, 2013). The depreciation expense of the machine is $25000. References Avi-Yonah, R. (2007).International tax as international law. New York: Cambridge University Press. Barker, D. (2007).Essential Australian law. Abingdon [u.a.]: Routledge/Cavendish. Cockfield, A. (2016).Globalization and Its Tax Discontents. Toronto: University of Toronto Press. Engdahl, S. (2011).Taxation. Farmington Hills, MI: Greenhaven Press. Fahimi, F. (2010).Autonomous robots. New York: Springer. Gifford, C. (2013).Technology. New York: Scholastic. Hockett, R. (2009).Law(1st ed.). Chicago: Chicago Review Press. Krever, R. (2007).Australian taxation law cases 2007. Pyrmont, N.S.W.: Lawbook. Macintosh, C. (2011).Technology. Port Melbourne, Vic.: Pearson Australia. Oppenheim, L., Jennings, R., Watts, A. (2008).Oppenheim's international law. Oxford: Oxford University Press. Shaw, M. (2003).International law. Cambridge, UK [etc.]: Cambridge University Press. Von Glahn, G., Taulbee, J. (2017).Law among nations. New York: Routledge. Woellner, R. (2005).Australian taxation law 2006. Sydney, N.S.W.: CCH Australia. Woellner, R. (2013).Australian taxation law 2012. North Ryde [N.S.W.]: CCH Australia. Woellner, R. (2007).2007 Australian taxation law. North Ryde, N.S.W.: CCH Australia. Woellner, R., Barkoczy, S., Murphy, S., Evans, C., Pinto, D. (2016).Australian Taxation Law 2016. Melbourne, Vic.: Oxford University Press.

Lysistrata Essays - Lysistrata, Women In War, Peloponnesian War

Lysistrata Aristophanes was a "craft" comedy poet in the fourth century B.C. during the time of the Peloponnesian War. Aristophanes' usual style was to be too satirical, and suggesting the outlandish. He shows little mercy when mocking Socrates and his "new-fangled ideas" which were most likely designed to destroy the cohesiveness of society and lead to anarchy, in his play The Clouds. The most absurd and humorous of Aristophanes' comedies are those in which the main characters, the heroes of the story, are women. Smart women. One of the most famous of Aristophanes' comedies depicting powerfully effectual women is the Lysistrata, named after the female lead character of the play. It portrays Athenian Lysistrata and the women of Athens teaming up with the women of Sparta to force their husbands to end the Peloponnesian War. To make the men agree to a peace treaty, the women seized the Acropolis, where Athens' financial reserves are kept, and prevented the men from squandering them further on the war. They then beat back an attack on their position by the old men who have remained in Athens while the younger men are out on campaign. When their husbands return from battle, the women refuse to have sex with them. This sex strike, which is portrayed in a series of (badly) exaggerated and blatant sexual innuendoes, finally convinces the men of Athens and Sparta to agree to a peace treaty. The Lysistrata shows women acting bravely and even aggressively against men who seem resolved on ruining the city-state by prolonging a pointless war and excessively expending reserves stored in the Acropolis. This in turn added to the destruction of their family life by staying away from home for long stretches while on military campaign. The men would come home when they could, sexually relieve themselves, and then leave again to continue a senseless war. The women challenge the masculine role model to preserve the traditional way of life of the community. When the women become challenged themselves, they take on the masculine characteristics and attitudes and defeat the men physically, mentally but most of all strategically. Proving that neither side benefits from it, just that one side loses more than the other side. It's easy to see why fourth century B.C. Athenian women would get tired of their men leaving. Most Athenian women married in their teens and never had to be on their own, and probably wouldn't know what to do if they did land on their own. The men leave for war and some don't return because of death or whatever reasons, so now a widow finds herself on her own, probably with children, and no one to take care of her or her children. She might be able to enter her male children as a journeyman/ward to a wealthy family (who either have no male children, or most likely lost their son(s) in one of the wars) that will raise him. The widow has few prospects. If she's young and attractive enough with the right domestic skills she might be able to remarry. But her lot isn't too promising. After all, why would you want a widow, when you could get a "fresh" wife to "break-in" the way you want and start a family from your own seed? According to Lysistrata it is easier to untangling multinational politics, stop wars and fighting than the women's work of sorting out wool. If you just stop war, it's settled, but with wool all tangles must be physically labored out by hand. Women's work is never done. Lysistrata insists that women have the intelligence and judgment to make political decisions. She came by her knowledge, she says, in the traditional way: "I am a woman, and, yes, I have brains. And I'm not badly off for judgment. Nor has my education been bad, coming as it has from my listening often to the conversations of my father and the elders among the men." Lysistrata was schooled in the traditional fashion, by learning from older men. Her old-fashioned training and good sense allowed her to see what needed to be done to protect the community. Like the heroines of tragedy, Lysistrata wants to put things back to the way they were. To do that, however, she has to become a revolutionary. Ending the war would be so easy that even women could do it. Aristophanes is telling Athenian men, and Athenians should concern themselves with preserving the old ways, lest they be lost. Aristophanes (Through the eyes of the women) mocks man's inclination for

Understanding of Constitutions

Understanding of Constitutions A constitution is a set of rules that people of a certain nation have come up with and agreed upon. It is used for moral, political guidance and to govern the people.Advertising We will write a custom essay sample on Understanding of Constitutions specifically for you for only $16.05 $11/page Learn More A Constitution can be written like that of United States or unwritten like that of Britain. In every sovereign state there are laws governing their political society, limiting the powers of the administrators and their subjects. Those laws are found in the constitution showing how the state is organized in terms of administration, judiciary and legislature. Countries have different ways through which their constitution came to existence. Some of them could be due to wars revolutions, gain of independence or any other major happening in the country. Canada was a colony, which formed its constitution after independence thus there was no comprehensive document i nstead there are many acts, orders, schedules unwritten documents and principles. Constitutionalism is ideology or orientation that advocates for a constitutional government, in that, authority is derived and limited by a body of fundamental laws. Constitutionalism supports government by rule of law and not arbitrary judgment and officials in public office are bound by the constitution in their actions. This idea is associated with political theorists such as John Locke and Thomas Hobbes and has been criticized by some scholars because there are various questions that arise from it. The system supports limitation of the government using the constitution which is a set of laws made, implemented and adjudicated by same government. Canada’s constitution goes back to 1867 when Canada was formed through the British North America act but it was not until 1982 that Canada’s constitution was patriatised through the Canada act and the Constitutional act and she became completel y independent from the queen. Canada’s constitution is written but also has some parts that are unwritten. It establishes the authority of the executive, legislature and the judicial arms of the government. It gives to the different levels of government found in Canada such as federal, provincial, and municipal, powers to create and implement laws. It also highlights the civil liberties and privileges and how the constitution can be altered. Canada’s constitution is very complex because it was not created from one draft instead many pieces were put together. Guy (253) noted that â€Å"One of the main requirements of this constitution is federalism; it structures the government into two levels of authority, that is, federal and provincial.†Advertising Looking for essay on constitutional law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Guy (55) observes that â€Å"Federalism in Canada was provided in the cons titution during the confederation via the 1867 British North America Act which was renamed the constitutional act 1867 whereby, this act set out the jurisdictional powers of both the federal and provincial levels government. The provincial level governed through institutions, such as hospitals, correctional facilities, and educational institutions.† It also gave the provinces powers to impose direct taxes on these institutions and to share jurisdiction in agriculture and immigration meaning that both levels of government are allowed to create laws for these two areas. Financial management has been a major challenge for the constitution since there are no clear guidelines on what constitutes direct taxation. Section 91 of the act deals with federal powers, the first part says that powers not given to the provinces are left for the federal government, such powers are military ,navigation, census, sea, coast, fisheries, criminal law just to mention a few, this makes the federal s ystem to have a wider taxing power hence more revenue. Another issue is that the federal government has been given power over the provinces, an issue that has brought great controversy, while these powers have been used in the past they have now been superseded by a an written law convection act of 1867. Modern constitutionalism in Canada Canada being a democracy has fallen victim of the tenets of modern constitutionalism which include, human rights, rule of law, making of constitutions and separation of powers ;which involves the division of governments into the three major parts legislature, judiciary, and executive, this way the three are able to check each other to ensure constitutionalism. Rule of law is applying the constitution equally to all its subjects despite the class, race or group of origin. Some of the measures used to ensure this are habeas corpus, prevention of retroactive legislation and judicial review.Advertising We will write a custom essay sample on Und erstanding of Constitutions specifically for you for only $16.05 $11/page Learn More Constitution making process must involve public debates and discussions before the constitution is adapted. All these concepts are after one thing, which is limiting the government and respecting the supremacy of the law. Guy (76) say that â€Å"this has led to many amendments to the Canadian constitution so as to abide by this tenets, some of them are the charter of rights and freedoms, division of power between the federal and the provincial governments, recognition of the existing aboriginal and treaty rights of the aboriginal peoples of Canada.† In addition it also requires the two levels of government to meet every year to address issues affecting them.† Some of the important amendments made are discussed below. The London Charter of Rights and Freedoms The Canadian charter of rights and freedoms was created on 17th April 1982 and it guarantees equality rights and freedoms. The section prohibits forms of discrimination in respect to denomination, education, race, genders. These rights are applicable to every natural person and the charter limits both the federal and the provincial governments from making laws that interfere with the rights of the people of Canada. With the introduction of the charter, there has been a drastic change in the Canadian courts, they are now more active in protecting individual rights and freedoms, they have a broader view of equality, recognize substantive equality which means that law makers and the government should ensure that laws made create a good environment for everyone despite personal attributes or group membership. This type of equality requires challenging stereotypes, though people still complain that the courts have not done enough yet to protect the individual. The rights and freedoms are; â€Å"Fundamental rights are freedoms of; belief, thought, expression, press, conscience, religion, belief, a ssembly and association.† Democratic rights; these are rights to vote, maximum duration of officials in public office, parliamentary sittings and their duration. Mobility rights such as; right to life, liberty, security, unreasonable search, freedom from detainment, right to legal counsel, rights against self-incrimination, language rights (this is use of the official languages), English and French (Guy 96). Meech lake accord Meech lake accord was a collection of amendments that had failed to be made to the Canadian constitution and was intended to persuade the government of one of its provinces Quebec to support the 1982 Canadian constitution because it had declined to do so .Advertising Looking for essay on constitutional law? Let's see if we can help you! Get your first paper with 15% OFF Learn More They demanded to be allowed to keep the French language and religion, give rise to the power of the clergy and be identified as distinct society by itself both geographically and in culture, the supreme court had ruled that the new constitution applied to all provinces but Quebec was in opposition. A new premier was elected in Quebec just at the same time as this argument was in place he agreed to negotiate and gave conditions that were to be followed for them to agree to the constitution. This accord was negotiated at the Meech Lake in 1987 and five modifications were made but they had to be approved by other provincial and federal legislatures to prevent change of the constitution amending formula. The accord received support from ten premiers and also national polls showed that the people were supporting it, however this changed due to the â€Å"distinct society clause†, and the people said that Quebec could not be treated differently. After many debates, meetings, commiss ions and negotiations the demands even increased to include gender, and natives’ issues in the accord. Time lapsed and polls were held and it was unsuccessful but Quebec did not change there position it hence the failure. A series of constitutional conferences were held and negotiations were made but things were still the same and this led to the Charlottetown accord. The Charlottetown accord The Charlottetown accord was comprised of proposed amendments to the constitution of Canada. The accord’s aim was to solve the disputes of power between federal and provincial jurisdiction, codification of the Canadian character and diversity, recognition of Quebec’s demands, the aboriginal self government principle, changes in the house of commons and appointment of the justices of the Supreme court which Quebec demanded that three of them be elected from the province since they were the only ones that practiced civil law. The accord unlike the previous one was presented t o the public in a referendum which was unsuccessful. The United States constitution The United States constitution is the source of all legal authority in existence in all states; it is over 200 years old. It is the shortest written constitution and was adopted on September 17th 1787 by the constitutional convention in Philadelphia. The document has been amended twenty seven times but has still remained relevant for application. The first ten amendments are called the bill of rights and are the source of the Canadian charter of rights and freedom. It is different with that of London in that, it was written as one formal document unlike that of London that is collected from different pieces and even some are unwritten (Guy 118). Political Parties, Interests and Pressure Groups A political party is a political organization with ideologies on how to run a country. The objective of these parties is to gain majority seats in parliament so as to influence legislation. They engage in polit ical rallies, nominations, electoral campaigns and national elections. They are termed as vehicles trough which political leaders gain power and get their positions in government. Political parties are essential in management of public affairs. The origin of political parties is said to be politics of the United States and its forefathers who were revolutionaries like Washington, Jefferson, Adams and Hamilton. The first parties were formed in 1796 in America’s formative years, the two groups were conflicting on how the new government was to formed, the federalists wanted a central government and supported the ratification of the constitution, industrialization, a national bank and building of roads and canals. The anti federalists in contrast wanted rights of the state in manufacturing and was opposed to the government building roads and other moneyed interests. The group evolved to be the Democratic Republican Party and ascended to power in the1800 election. The federalists achieved their objective for a constitution and after that the party weakened. After the civil war in 1812, the Democratic Republican Party was divided over the issue of who to support for the primary election. There were also other issues like slavery which brought controversies which led to some members breaking out and went to form smaller parties and among them was a major party the Whig party. It was much financed because it was led by wealthy business men. Democrats who were against slavery left the party and together with other small parties they formed the Republican Party. The two parties are still America’s major parties until today in a multiparty system in place. There are many types of parties today but the main distinction between them is cadre and mass based parties. The two forms can be found in one county, but there are also other categories such as communists, socialist, conservative and liberal. All this characteristics can sometimes be found in one party hence they are not specific. Functions of political parties Political parties are vital especially in democracies, because they aggregate and articulate the needs of the people and are avenues for political debates and discussions in the society. They draw people with similar ideologies and interests together and provide them with a means through which they can acquire political power. In addition, they provide an opposition to the government hence keeps it on its toes enabling good public service. They also educate and socialize the people about political issues and the electoral systems in order to enable the people make informed political decisions and take viable options. Another factor that determines the nature of political parties’ is political systems; the main ones are single, two parties and multi- party systems. In single systems there is only one political party which is legal and dominant, it is common in communist countries like china and Nazi Germany, position s in the party are highly valued the system is associated with tyranny and dictatorship. The two party systems have two dominant parties; plurality voting system is the major of the system existence and is mainly found in United States and Britain. The multiple system is characterized of many parties and coalition governments are common due to differences between parties. The history of Canada’s political parties The history of Canada’s political parties is traced back to when it was a colony of Britain and France. During the American Revolution loyalists migrated to Canada and a majority of them believed there was a need for a governing class which was to be comprised of the chief families and wealthy business men. After the 1812 war, there were two groups the reformers and the conservatives. The reformers opposed the ruling class idea and the special privileges they were accorded, thus they advocated for equal rights. They staged a rebellion to oppose this issue but it failed to achieve its objectives. Since then Canada has been characterized by liberalism and conservatism a factor that has shaped the country’s politics until today. Pressure groups Pressure groups are people that are organized and aim to influence the government’s decisions and policies or sometimes focus on an issue and pursue it. Pressure groups and political parties have many differences both in structure and function .Political parties focus on attaining power and maintaining it while pressure groups focus on national interest. Some promote a particular issue while others deal with issues as they come. Pressure groups influence policy formulation and implementation in various countries, they provide substantive information to the decision makers, offer campaign finance and carry out lobbying activities. Some of the successful groups in Canada fight for the rights of women, gender representation, free health care and education for the less fortunate. Currently there are pressure groups pursuing issues like, abortion, the environment, gun control, and capital punishment (Guy 148). Elections and Electoral Systems Psephology is the study of statistical analysis of elections and the word itself has its origin from the Greek language and it means ballots .The analysis uses several elements such as opinion polls, voter’s returns in previous elections, campaign finance and any statistical data about elections. The various applications used in the analysis are Gallagher index, Mackerras pendulum and the swinggometer Concepts of voluntary and compulsory voting Elections are held to determine who is best fit to govern a country among the contesting candidates. The vote of each and every citizen is very important since every vote casted determines the result of the election and hence participating in the decision making process. However it is a personal choice whether to vote or not, although in some countries people are forced to vote. There is two voting systems voluntary and compulsory, in compulsory voting citizens are forced to vote or attend a polling station on the voting day failure to which one is punished through fines, community service or even imprisonment if the first two are not done. Those that do not want to vote can go with the ballot paper or spoil it at the polling station, because the important thing is that they get to the polling station. The old and the sick are provided with mobile polling booths so that they also get a chance to vote and are assisted on how to do it. The main argument for the system is that it prevents access to the vote and prevents any factors that may make people not to vote for example employers, transport and weather. It is a measure to involve the socially disadvantaged or politically inactive, enables the population to be politically active, decreases the role of money in politics since not much campaign is done and also reduces the risk of political instability created b y charismatic leaders like Hitler. Arguments against it term it as a violation of citizen’s freedoms and may also lead to donkey voting which may affect the electoral process. The system is commonly found in Australia In voluntary voting people are allowed to vote according to their own wish, it is the system used in many countries for example the America, Canada Britain, Spain and Italy among others Electoral systems An electro system is a method by which people vote in an election or referendum, the system comprises of the rules of voting ,counting of votes and the final result. The voting system also determines the form of ballot, allowable votes and the subgroups of voting. The major voting systems are the, majority system, proportional representation also called plurality and the fast past the post voting systems. The electro system of a country affects the outcome of the election due to the rules that are used, but still the exact amount of influence is difficult to tel l since each election has its own features and dynamics. In the majority system only one representative is to be elected and that would be the most qualified personality. The system gives the big parties a greater chance to win the election while the smaller parties are marginalized, although this system also creates a stable parliamentary majority but still does not represent a pluralistic modern society. The method appears to be straightforward and simple but in the end it leads to complicated policies that are not transparent to voters and hence compromises democracy. The proportional representation method ensures that each vote made counts; it’s an hybrid of single and majority system. All parties present a list of candidates and then voters are allowed select a list hence they vote for the parties not the aspirants. The parties are then given seats according to the number of votes they get; this is because political parties’ present ideas of governance and the mor e the better since small parties gain power and it ensures democracy and proportionality, although it can lead to a weak government. Since coalitions are common, independent candidates do not also get a chance and the link of a representative and his party is lost. It is common in developed western countries like Switzerland (Guy 178). Canada 1993 Federal Election Canada federal elections are nationwide elections done to elect their leaders. The election may be called any time but a least one must be held in a span of five years and past the post system of voting is used. A federal election was held in 1993 to elect the members of the House of Commons with fourteen parties being involved in the election, it was one of Canada’s eventful elections because more than half of the electorate changed parties. The election was called by the by Prime Minister Kim Campbell when she was almost to exit office. She wanted to help her party the progressive conservative party to win in the elections but they gravely lost. Two new parties were formed leading to the division of the conservatives into: â€Å"the Bloc Quà ©bà ©cois, which gathered about half of the votes in Quebec and the Western based Reform Party which gathered about equal number of seats.† During the campaigns the Liberals were very consistent and organized in contrast to the Conservative campaign. â€Å"The Liberals came up with a manifesto, which was exceptional to the other parties’ and provided a new limited public works program and a national child care program. The Bloc Quà ©bà ©cois pledged to support interests at the federal level, by running candidates exclusively in Quebec while fighting for Quebec’s independence from Canada, they also promised to create a smaller government, lower taxes, support the North American Free Trade Agreement, and oppose the Goods and Services Tax† (Guy 145). The liberal party won because they had a strong base in the two major provin ces Quebec and Ontario. They dominated Canada’s elections for the next decade until they were greatly challenged by the sponsorship scandal and fighting within the party which reduced them to a minor party. The primaries in the United States The United states primaries is one of the initial stages in the election of their president, they are run by state and the local governments and are used to determine how many delegates each candidate will receive from the state. The two main political parties nominate the aspirants they want for president at the national conventions, the nominated candidate is then voted for by the voters, hence ensuring that the candidates are chosen by the voters’ not party leaders. There are two ways of voting in the primaries. Guy says† in open primaries, voters engage in one of the primary elections, irrespective of their party and they are not required have to make a public statement of their party choices, but they have to decide whic h primary election they want to vote in that particular election.† This way they do not have to publicly declare their choice and also it enables the candidates to get a chance to be chosen despite their political affiliation. Guy also points out that† the closed primary election system is very restrictive in terms of participation, only party members are allowed to vote, and voters can not switch parties on the primary election day†. The proponents of these system say that it enables; voters to have more power in the candidate selection process hence reducing the power of party leaders and also reduces the influence of organizations, it also enables them to intensify their campaigns and mobilize new supporters while the tiring election campaign during the primaries prepares the candidates for the competition with their opponent(s) in the general election. However, there are some critics about the system; people say that states are not true representative of the st ate and therefore advocate for a single national primary, candidates also have to spend large amounts of money for primary election campaigns before the general election campaign starts, hence creating moneyed politics, the candidates must also strive to get positive media coverage, they also have to make early relations and networks with the members of their parties to gain support for the primary elections. The system in my opinion has greater advantages than disadvantages and more countries should think of establishing it as a method of choosing their candidates (Guy 220). Conventions and debates in Canada and United States Guy says that† another characteristic of the United States presidential nominating process is a national convention which is held every four years by the parties that intend to have a candidate in the national elections†. The purpose is to elect a party nominee for the position. National conventions in Canada are the same with those of the United S tates; the only difference is that delegates to choose the party leader are elected by associations like women groups and young clubs. The conventions in both are aimed at selecting the best candidates for the job and to foster democracy. There are also debates held before the general elections involving the two final candidates of the major parties. They are not very essential but are necessary so as to enable the voters to know clearly the intentions of the candidates once they are elected and also create a chance for the candidates to challenge each other publicly. In the 1992 elections of the united states, there were three candidates, George Bush of the republican party, Bill Clinton for the Democrats and Ross Perot of the independent party. The democrats won because there had been some huge economic problems facing the country under the leadership of the republicans and people did not trust them to re-elect them again having been in office for twelve consecutive years. In that election, Democrats gained full support of the legislature, executive and both houses of US Congress, and also won the 1996 re-election. Canada 2006 Federal Election In Canada, minority governments happen when no party has managed to convincingly has garnered majority of the votes in the legislative house, thus the party with a majority seats forms the next government. However, minority governments should have backing of the other parties to remain in authority, thus they are less stable as compared to majority governments. Guy (236) states that â€Å"The current Prime Minister of Canada is Stephen Joseph Harper who is also the leader of the Conservative Party that won the 2006 federal elections whereby the party was formed after a merge of the Progressive Conservative and Canadian Alliance parties.† Harper dominated media coverage, the first weeks of the campaign and although his party faired baldly in the polls, Harpers personal polls, started to go up. To counteract this, the Liberals started propaganda against the Prime Minister, but these did not change Canadians’ perception as Harper was a popular leader. Guy (56) also noted that â€Å"The Conservatives gathered more than 38 per cent of the popular vote, an increase of seven per cent from 2004 election; while the Liberals came second with 30 per cent and the NDP third with 17.5 per cent.† Canada has much trust in their current prime minister for he has shown he is a rare leader who has even won many awards including the Presidential Gold Medallion for Humanitarianism by Bnai Brith International which has never been awarded to any one in Canada. He has also led the conservatives into forming the best government in Canada, through his desire to turn the Canadian senate into an elected rather than an appointed body. The Conservative Party won a stronger minority in the October 2008 federal election, but going by factors the party is likely to win a majority vote in the next election (G uy 345). Work Cited Guy, James. People, Politics, and Government. Ontario: Pearson Education, 2010. Print.

Topic Analysis - European Financial Crises Essay

Topic Analysis - European Financial Crises - Essay Example The origin of the global financial turmoil was the collapse of the real estate bubble in the United States, mainly the sub-primes1 mortgage market, which provided access to housing finance to almost everyone even those without the necessary guarantees. The problem was further aggravated by the securitization2 of sub-primes leading a contagion in the financial system, which resulted from massive defaults on the original loans that had been securitized (Ferguson, 2012, p. 19). There was high mistrust among commercial banks in the financial systems, which led to freezing of the interbank market, severely affecting liquidity distribution and forcing institutions to bankruptcy, both because of reduced activity in the interbank market and as financial institutions continued to sell even the good quality assets in fear of the unknown, or as a consequence of increased uncertainty. In the period 2006-2007, there was increasing panic as news of bankruptcy of firms such as Lehman Brothers and Morgan Stanley in the USA and Dexia in Europe, continued to stream. Some of these firms were however bailed out by the governments of the USA and Europe. In 2008-2009, the financial crisis began to hit the global economy3, introducing the first recession since the times of World War II. In EU alone, GDP went down by about 4.1% while rate of unemployment4 increased by 3.9% between 2008 and 2010 (Manfred, Griesbach, and Jung, 2011, p. 292). These were firm indicators to justify that there was indeed a heating problem that needed quicker action to resolve to avoid dire consequences. This paper will attempt to explain the Euro zone financial crisis and particularly explore the hypothesis that the â€Å"European situation has the potential to become a financial â€Å"time bomb†, which could destroy the euro as a currency, send global financial markets into a tailspin and global recession†. In doing this, the paper will address the