EC440 International Trade Theory and Policy
Question 1
The General Agreement on Tariffs and Trade (GATT) was first signed in 1947 as an international agreement that would regulate trade among member countries. GATT set rules governing international trade. The rules would ensure full employment of resources, large and increasing demand for goods and services, and expansion in production and trade of goods in member countries. GATT’s purpose was to reduce trade barriers and tariffs. The agreement was based on principles such as non-discrimination, open markets, and protection of interests. GATT members were supposed to treat all member countries equally and without any form of discrimination. The only form of protection allowed among GATT members was tariffs. However, members had a right to restrict dumping of substandard goods into their domestic markets. The tariffs set in GATT’s negotiations or rounds were binding for all GATT members.
GATT led to the abolishment of quantitative trade restrictions including quotas among member countries. The agreement had 23 members at the start but the number increased to 125 before the agreement was replaced. GATT held seven rounds to negotiate tariffs and solve other trade issues. The first six rounds of GATT included the Geneva (1947), France (1949), Torquay (1951), Geneva (1956), Geneva (1960-1962), and the Kennedy round (1964-1967). Other GATT rounds included the Tokyo round (1973-1979) and the Uruguay round (1986-1994). The first six rounds were successful in reducing tariffs and expanding world trade. The growth rate in world trade was about 8%in the 1950s and 1960s. The continuous negotiations led to constant reduction in tariffs.
Question 2
Some changes in the global economy such as the oil crisis had a negative effect on the success of GATT. The oil crisis led to a decline in the growth rate of the world trade despite the liberalization brought about by GATT negotiations. In addition, protectionism grew among member countries. Countries began to adopt policies and practices that contravened GATT agreements. For instance, the Multi-Fibre Arrangement was established in the textile industry to protect developing and industrializing countries. The United States developed and implemented its Trade Act of 1974 to protect its industries from dumping.
The economic recessions experienced in the 1970s pushed governments to protect domestic industries from foreign competitors. Economic recessions increased unemployment rates and had negative effects on the agricultural sectors. Most of the policies that countries developed in response to the economic recessions contravened the GATT principles. For instance, some countries sought bilateral arrangements to protect their industries.
Changes in trade policies and economic pressures undermined the credibility of GATT in the 1970s. The Tokyo round started in 1973 and reduced tariffs further. The GATT secretariat considered this round a success while some economists considered it as a failure. The Tokyo round was a success because apart from reducing tariffs further to 4.7%, new agreements emerged. Some of the new agreements became part of the WTO agreement. Some of the articles in the GATT agreement were interpreted in the Tokyo round. The interpreted articles included technical barriers to trade, dumping, customs valuation and subsidies among others. The new agreements established in the Tokyo round included government procurement, import licensing and bovine meat arrangement among others. Economists term the Tokyo arrangement as a failure because it did not address the critical issues in farm trade effectively. In addition, the round ended before establishing a new agreement on emergency import measures.
Question 6
The GATT agreement recognizes the potential benefits that the least developed countries (LDCs) can derive from the agreement. To this extent, the GATT agreement contains some articles that allow developing and poor countries to enjoy preferential tariffs and trade arrangements. Developing countries largely depend on the enactment of the GATT as their way of protecting themselves from unfair trade practices. The participation of LDCs in the world trade has led to increases in their economic growth rates. Trade accounts for more than half of the GDP in most of the LDCs. However, LDCs continue to experience extreme poverty levels and underdevelopment. Despite their participation in international trade, LDCs have large trade imbalances. Most LDCs export primary products especially agricultural products. Developed countries, on the other hand, export oil and manufactured products. Such products earn high export revenues and guarantee the countries’ participation in international trade in the long run.
The share of LDCs in the world trade is small compared to that of developed and developing economies. This share has been declining over the years but the LDCs have not increased their barriers to trade. The open trade policies in LDCs may lead to a further decline in their share of world trade. LDCs heeded to the call to embrace trade as their avenue to high levels of economic growth and developed. However, trade liberalization has not yielded the desired results in LDCs. Trade liberalization alone cannot lead substantial economic development in these countries. This is because the countries largely produce and export traditional products such as farm produce. The countries import expensive manufactured products from developed countries with trade liberalization policies in place. In addition, LDCs have weak institutions, structures, and policy frameworks.
The GATT agreement compels the least developed countries to import manufactured products from developed countries. The agreement compels developing countries to co-operate with developed countries given the preferential tariffs that they enjoy. Trade liberalization and globalization without the required internal reforms in LDCs makes them vulnerable to developed economies. Trade liberalization may continue to widen the gap between the poor and rich countries. Developed economies benefit from trade liberalization while poor economies risk marginalization and further increases in poverty levels. LDCs have adhered to the free markets strategy for many years but the developed countries seem to benefit more from the strategy than the LDCs.
Insert Surname 1
History
Important concept/theme that has run through all three of our time periods The book on the West Encounters & Transformations Concise Edition focuses on the Western Civilization process and period. During this time, three major periods are highlighted including; the ancient age, the medieval and the early modern period. The ancient period is mostly associated with the Romans and the Greeks and contributed to the philosophical, cultural and political developments.
The medieval/middle age period lasted from 476-1517 with a major focus on religion, evolution and culture. The renaissance ideas were invented at this time. The early modern period mainly involved the development of reformation and colonization ideas especially in Europe. Some of the concepts and themes that dominated during these three periods include ideology, humanism, secularism, religion, individualism and skepticism. One of the themes cutting across all these periods is humanism. This concept had human as the major controllers of ideas and development and were the centre of focus in all the three periods. Important factors like freedom. Individuality and cultures that dominated the three periods were influenced by the developments in humanism as the works of original humanists like drawings, paintings, poetry and architectural design affected all the political, social and economic factors of these times.
Renaissance humanism defined
Renaissance means rebirth hence renaissance humanism is beginning of the learning attitude that was developed by human beings towards the completion of middle age period to express the truths and falsehood perception of life. It first took place in Italy around the 16th century then spread across Europe.
Elements of Humanism
This type of humanism strongly believed in the potentials human beings had and advocated for individualism.
It advocated for the study of ancient languages like Latin.
It favored the works of the Roman authors compared to the Aristotle ones.
This humanism advocated for the advancement of academic programs in rhetoric, history, poetry, philosophy and grammar.
It also promoted civil society patriotism
How did they work in the intellectual/political society of their time?
The humanist worked through writing literary works such as poetry to criticize and enlighten people on various issues in the society like love, death and religion. They painted and molded symbolic sculptures and designed city buildings.
Discuss at least two Humanists in some detail.
Humanists were teachers of various disciplines whose focus was more secular oriented than religion. Some were poets and orators. Examples include;
Michelangelo Buonarroti lived from 1475 to1564 and was famous as a painter and world renowned sculptor. He curved the famous sculptures of David and Pieta. He also painted the Sistine chapel’s ceiling.
Another humanist is Erasmus Desiderious, who existed from 1466 to1536 working as a northern humanist who had proper mastery of the Greek language. He was a Catholic who advocated for reforms and translated the New Testament book to Greek and Latin. He used his writing prowess to criticize the society of greedy people with the clergy men included, and he is famous for his work-In Praise of Folly.
Humanists’ most important achievement
The humanists developed excellent sculptures and paintings that became historical and inspire modern day architectural design. Their contribution in language development enhanced the quality of literature, poetry and oratory works that were later used. They contributed to the overall development of human beings in the society especially through provoking ideas in philosophy and religion.
Compare Donatello’s David with the one fashioned by Michelangelo How are they different?
Fig. 1 Designed specifically for this assignment
What specifically do they tell us about the society that created them?
The sculptures represent the thoughts and experiences of the society at that time. The Florence city was facing several political struggles and being a small city it was looked as the biblical David, small in size and had to face the huge Goliath. The French army was particularly a threat to Florence at the time. The David sculptures were hence used to express confidence in facing other powerful nations that posed a threat to the city.
Discuss these differences in some details
Major differences can be noted in the David’s sculpture of both Michelangelo and Donatello. Michelangelo’s image depicts David prior to war with Goliath and is made of a marble while that of Donatello shows David after having engaged Goliath in a war, and is made of bronze. Michelangelo’s sculpture of David is also taller with about 13.5ft compared to Donatello’s 5ft tall sculpture.
Donatello and Michelangelo and what their works tell us about them and their time
Michelangelo was a professional poet, architect, engineer and painter whose works influenced the masses at the time. His famous works in sculpting include the David’s statue and the Pieta. As a poet, he wrote various sonnets that are still in use to date. He painted the Sistine chapel ceiling and designed buildings in the Florence city. His works demonstrated his religious nature and how he valued it. He used his skills and talent to communicate religious messages.
Donatello was an Italian sculpture who lived from 1386 to 1466 and whose work was influenced by humanism theories and nature. He is popularly known for the David’s sculpture that portrayed the pride of the people and is always compared to that of Michelangelo. His other designs include the Ventian warrior statue and that of Gattamelata riding on a horseback.
HISTORY 5
Running head: HISTORY 1
Instructions for an Information Interview Exercise
An informational interview is an interview that is initiated by a job seeker to gain information and career advice. The job seeker is the one that asks the questions. Although an information interview is less stressful for the interviewer and the interviewee, formal interview etiquettes needs to be observed. The interviewer should conduct themselves in the most professional manner, bearing in mind that their interviewee is not obliged to give them audience. This research paper describes a typical information interview for an IT consultant.
With the world environment upgrading from analogue to digital, the IT industry is attracting more and more professionals. The IT consultancy is among of the famous field in the technology world. In an informational interview with the chief IT consultant of the Hypertech Hardware Supply & Services, the interviewer wanted to get the basic information about the IT industry. The general chief consultant was kind enough to explain to the last detail about the sector. For a clear illustration of an informational interview, this paper analyses the question and answers exchanged in this interview.
To begin with, the interviewer wanted to know about the educational requirements in this profession. The interviewee explained that, to be a successful IT consultant, one needs to have a substantial knowledge of the Information Technology and Communication (ICT). This could be obtained by taking a course in ICT. In modern days, many institutions are offering courses in ICT. In addition, one needs to keep on updating themselves on the new inventions in technology. This is because IT is a dynamic field and every day comes with a new experience.
About the roles of an IT consultant, the chief consultant said that their main roles were to work with the clients, to advise them on how to apply the information technology in overcoming problems and meeting their business objective. A typical day’s activities involve meeting with clients to determine their requirements, analyzing the scope of their projects and working on these projects accordingly. This could be by defining hardware, software and network requirements. It also involves visiting the client’s site to analyze the IT requirements within companies and advice accordingly. The IT consultant prepares documentation and report to customers. He/she assists in sales activity, maintain contact with client organization as well as identification of potential clients.
When asked about the demand and the average pay in this profession, the chief consultant had the following assurance. The demand for IT specialist is globally increasing. The quest for IT solutions is not likely to be satisfied in the near future. Young people should, therefore, be encouraged to venture into this global profession. The reward is also promising. Although the actual pay could be different from a company to another, the average pay for entry level is about 600 US dollars. This value, however, change as one grows in the career. The salary scale ranges from 600-1500 US dollars.
The curious interviewee also requested for some advice. The chief consultant’s professional advice is not just to the would-be IT consultants but also to all job seekers. For anyone interested and passionate about technology, this is the best career. It is important for students to specialize in at least 3 things that one is better at, rather than taking a whole wide course. In addition, the would-be IT consultants should frame their services in the real-world context- that is, offer what the world needs. Although it is tempting to take whatever work that crosses the path of a job seeker, it is advisable for IT specialist to stick to their professions to maintain their credibility.
When asked about the advancement opportunities in the IT industry, the chief consultant gave an image of a first growing industry. The dynamic nature of the IT consultancy provides great opportunities for expansion, he says. This could be through research and innovation. This is a growing career and therefore chances of expansion are likely to be created now and in the future While answering the question of environmental influence on the industry, the chief consultant named economic and social trends as the main factors. Information technology is, to a greater extent, influenced by the surrounding world. The changes in the social behavior correspond with the changes in the technology industry. Also, the growth in economy results in the increase in the IT consultancy demand.
When asked to describe the promotional process, the chief consultant described it as a fair process. In most IT firms, promotional opportunities are provided on the merits. The hiring decision is, according to the interviewee, a fair and rigorous process. Usually, the hiring decision is made by panelist, composed of high ranked individuals in the firm. Addressing the issue of job satisfaction, the chief consultant termed the success of the businesses and organizations that apply technology, as the most enjoyable achievement in this career.
In conclusion, an informational interview is of great importance to any job seeker. The interviewer should prepare a list of questions ahead of the interview. These questions should enable the questioner to get the most information about the career of interest. For IT the professionals, an informational interview prepares them for a successful career. Students and job seekers should consider taking an informational interview before a job opening interview as an eye opener.
Your Name2
Reconciling The Conflict Between Evolution and Religion
Abstract
There are different views as to how the earth came into existence. Religious scholars, scientists and historians have over the years championed their different beliefs on the existence of the earth. Each set of group passionately defending their views. Therefore this paper will draw insights from three disciplines that have tried to explain this phenomena. These three disciplines are theology, earth science and history. The paper will explore earth science as it explains the existence of the universe through evolution. It will also examine theology as it explains how the universe came into existence through creation by God. Historians try to find historical events that can explain how the earth came into existence. The paper will discuss the strength and weakness of each discipline and the source of conflict between them. Has there been an integral part between the three disciplines and is there one that is more appropriate? This is a question that this paper will also seek to address.
Keywords: Evolution, Religion,
The conflict between Evolution and Religion
Earth science views
Earth science supports biological evolutions to explain how the universe came into existence. Corby (1996) defines evolution as a process where the gene pool of a population changes over time. He goes ahead to define a gene as a hereditary unit that is passed on through generation but it remains unaltered. This study of gene forms the biological explanation of evolution by scientist. Burkhardt (1995) borrows Lamarks explanation that species arose continuously from nonliving sources. Darwin (1950) claims that all organisms have a common ancestral origin. For instance, he claims man shared common ancestor 8 million years ago, with whales 60million years ago and with kangaroos over 100 million years ago. Science seems to suggest that all creatures began as something which mutated into other forms over millions of years. For example science through the theory of evolution, explains that human being started as apes. Over the years, those chimpanzees have evolved through different stages up to their current forms. The scientists have tried to use archeological evidences to support the theory of evolution.
Provine (2001) says that science demands evidence before anything can be accepted as a fact. Therefore, champions of evolution theory had to provide factual evidence. In various parts of the earth, they have discovered bones whose structure has a lot of resemblance to the current man. Scientists have used this as the strongest evidence that the humans have been evolving over the years. Current advancements in technology have been used to support this theory, one of these is carbon dating where a fossil dating many years back can be studied in and compared to the current man. This is all done as scientists try to advance the theory of evolution. The big question that weaken this theory is where did life itself come from. This theory does not state clearly the starting point before evolution started taking place. This is a major weakness of the scientific view.
Theological views
This view is basically based on faith, those who believe in this discipline believes that there is a supernatural being who is now in heaven. This supernatural being known as God is responsible for creating all the things that are in the universe. According to Fretheim (2005) all human beings are desperate to believe in something. Therefore, advancing the theological view has been easy. Many people want to believe there is a supernatural being somewhere who created everything and he cares for them. Those who believe in this view also believe in the bible as the written word of God.
They use the words recorded in the bible as the evidence that God created the earth and everything in it by saying let there be . Therefore, if anyone decides to follow this view, all one requires is faith since questioning these beliefs is regarded as a lack of faith, which can attract punishment from the supernatural being. This view is seen as if its only for the blind and those who are not able to critically evaluate the beliefs (Neckin, 2000).
The critics of theological view argue that it is not based on facts but rather mystical. For instance it is not logical how a man could have appeared from nowhere as a fully formed being according to Long (1984). The modern man wants to see tangible evidence that can explain things, therefore it becomes difficult to convince a critical mind about creation theory. Therefore those who believe this theory do not ask for facts they just believe. Other critics argue that the fact that this theory ranks man highly than other created being makes the theory easily acceptable. Actually, the theory teaches that man was given authority over all other created beings. This is exactly what every human being wants to hear. The critics of this theory want answers to questions like, where did the supernatural come from?
Historical view
History is key in trying to resolve the conflict between evolution and religion. History takes the events as narrated in the ancient book i.e. the bible and try to verify whether they actually happened. For instance, history has been able to establish that the history of Egypt and Arabic nation is consisted with what has been written in the ancient book according to Lyne (2012). Being able to trace back event through history would be a major breakthrough in settling the issue of origin of the universe. According to (Cory, 1995) discovery of Noah’s ark on mount Ararat goes a long way into proving the authenticity of the bible.
On the other hand, archeological evidences that historians have discovered for instance, discovery of fossils that resembled ape that have a close similarity to the modern man. Moran (1993) argues, The earth with liquid water is more than 3.6 billion years old. He continues to say that cellular life has been around for at least half of that period and that multicellular life is at least 800millions years. All this can only be traced through history. Wicander and Monroe (2013) concluded by saying that historical geology will examine the origin of the earth. Therefore, history will try to bridge the gap between theology and science.
The evidence
Science insists on facts that can be verified through experiments before a theory can be advanced to explain phenomena. For instance science has proofed that mutation of genes can make an organism to change to a completely different organism. Scientists have used this to explain that living forms came from previous living forms. This also proves that birds arose from non-birds and human from non-humans. In addition, Science has proved that there are other forms of life that are no longer in existence. For instance, dinosaurs and pithecanthropus no longer exist. The discover of fossils whose features has similarity with the certain living things is good evidence that supports evolution theory.Therefore for a critical and intelligent mind this theory is more acceptable since it provides tangible evidence. This theory may not state exactly the origin of the universe but it has utilized data to support many other suggestions it has advanced.
On the other hand theological views can be examined within its context. Archeologists have been able to establish that most of the event described in the Old Testament and New Testament did actually occur. For instance, archeological evidence has proven the existence of the tower of Babel as described in the Old Testament in the bible. This can be used to conclude that the content of the bible is true. This includes the account of creation in Genesis chapter one of the bible. The strength of theological view of the origin of the universe is that, it gives the beginning even though mythical. This theory may not be credible to a critical mind but if some part of the bible is true then there is a possibility that the whole bible is true.
Is there a point of integration?
One of the major points of integration between science and religion is the modern knowledge of cosmic evolution that the universe had a definite beginning somewhere between 10 and 20 billion years ago. Many scientists have come to an agreement on this fact according to (Corey, 1995). He continues to say that the chronological outline of creation takes the form of sequential, evolutionary-type fashion. Therefore, religion and science can integrate in that the supernatural being created the initial potential of all that will be contained in the universe but it was not a 6-day event, as religion asserts. This can be taken as evidence that God used the gradual evolutionary process in creating the universe.
There seems like there is no point that those who advance the creation theory and those who support evolution agrees. The two theories fall short of explaining with certainty how the universe came into being. While science seems to have strong evidence supporting what happens after the universe came into being, religion explains both the beginning and after the universe came into existence though with mystical perspective. Those who have tried to harmonize the two theories claim that science gives the details of how the supernatural being brought the earth into existence. Therefore, they have concluded that one can integrate the two theories to conclude that both biological evolution and the existence of a supernatural being are acceptable. According to Long (1984), the stand of religious leader to present the origin of the universe from an emotional view rather than rational and intelligent view has made religion to be unpopular among the critical thinkers.
In conclusion, it is worth noting that the debate of origin of the earth continues to elicit debate between scientists and religious leaders. Each side strongly holds to their side of the argument. One can only hope that as more archeological evidence is discovered and advancement in terms of technology, this question will be settled once and for all.
References
Burkhardt, R. W. (1995). The spirit of system: Lamarck and evolutionary biology : now with “Lamarck in 1995”. Cambridge, Mass: Harvard University Press.
Colby, C. (1996). Introduction to Evolution. Retrieved from:
Corey, M. A. (1995). The natural history of Creation: Biblical evolutionism and the return of natural theology. Lanham, MD: University Press of America.
Darwin, C. (1950). On the Origin of Species by Means of Natural Selection. New York: D. Appleton and Company.
Erickson, M. J. (1998). Christian theology. Grand Rapids, Mich: Baker Book House.
Fretheim, T.E. (2010). God and the world in the old testament: A relational Theology Of Creation. Nashville:Abingdon press.com.
http://www.talkorigins.org/faqs/faq-intro-to-biology.html
Long, B. (1984). The Origins of Man and the Universe: The Myth That Came to Life. London:Routledge &kegan paul plc.
Lyle, A.(2012). Ancient History: A revised Chronology. Bloomington:Author House.
Moran, L. (1993). Evolution is a fact and a theory. The talkOrigins Achirve. Jan 22 1993 http://www.talkorigins.org/faqs/evolution-fact.html
Nelkin, D. (2000). The creation controversy: Science or scripture in the schools. San Jose [Calif.: ToExcel.
Provine, W, B. (2001). The Origins of Theoretical Population Genetics. Chicago: Univ. of Chicago Press.
Wicander, R., & Monroe, J. S. (2013). Historical geology: Evolution of earth and life through time. Belmont, CA: Brooks/Cole, Cengage Learning.
CONFLICT BETWEEN EVOLUTION AND RELIGION 6
Running Head: CONFLICT BETWEEN EVOLUTION AND RELIGION 1 1 1
Introduction.
Government regulations are measures taken by various governments in curbing financial crisis.These regulations may range from short term to long term interventions (Dawson, 1996).Most government across the globe have been involved in one way or the other in regulating a market economy.This includes countries like USA,China and Australia.
Why government regulation is needed.
The involvement of government in regulating the economy has the following importance. To begin with, government stimulus plans may improve the economy by building new structures and renovating the existing ones (Keynes, 1936)This includes housing,roads and railway transport.Secondly, government involvement increases monetary debt through huge investments thus expanding the economic fabrics. The other reason for government regulation is that it creates employment opportunities for many jobless civilians. This is through the stimulus plans that are put in place to fight high rates of unemployment (Dawson, 1996).Finally, government regulation is important in stabilizing the effect of financial system. This is through taking over banks either fully or partially.However,some scholars argue that government intervention is only acceptable in the short run (Smith, 1776).
Why government intervention is not needed in the market economy.
Government regulation is not needed in the market economy.This is because it slows down economic growth through incresed borrowing to cover the budget deficit.This will also lead to high taxations on the citizens and companies.This affects the economy of the country (Dawson, 1996).Secondly,government intervention may lead to hyperinflation.This is aresult of more money being injected in the economy.People may have money that has little value.Thirdly,government regulation may lead to social and political instability.All fabrics of the society entirely depends on the economy (Gulle’n, 2009).When the currency system is on the verge of collapsing,then social amenities like education,food and infrastructure will enterely be compromised and if the situation is not curbed, then they will end up collapsing.
Justification for intervention of U.S government in the market process.
The USA government was first involved in market intervention in 2006 during the global financial crisis.This is a justified move because of the following reosons.The citizens had borrowed and consumed more than it could produce (Gulle’n, 2009).This was because for a long time banks were offering low interest rates loans on mortgages.Banks had been become too linient on loans not bearing in ming the crisis they were creating.As a result prices rapidly declined with an over supply of houses.
This eventually led to the collapsing of the mortgage industry.By July 2007,93% of the borrowers had lost their houses to the banks for failing to repay their mortgages.This forced the banks to borrow from abroad.There is no doubt that bankrupticy was looming in the country.The situation worsened when leading mortgage lenders Fannie Mae and Freddie Mac were on the verge of collapsing.The same year,the investiment bank Lehmann and Brothers was declared bankrupt.In addition,a leading insurance company AIG was nearly bankrupt (Gulle’n, 2009).
The crisis had spread to Germany and Australia since they are all in the same global market.With all these,and more to come in the uncertain future, the USA government was left with non other than intervening.The USA overnment began by buying shares from banks to prevent bankrupticy .By buying shares,government ensured that banks had a stable money base.Moreover,economic stimulation programmes to improve the infrastructure were put in place.This spread to other countries that were affected by the financial crisis.For instance China allocated a total of $ 586 billion to boost her infrastructure for a period of two years.The same was witnessed in Australia and Germany (Gulle’n, 2009).Therefore,the above reosons clearly justifies the reosons behind USA government involvement in the economy market intervention.
Challenges of merging a company.
Merger refers to consolidation of companies.They may be two or more companies regrouping under the same business line (Neelanjan, 1997).Companies may merge for the following reosons.A merger may arise when a company needs to increse its market base but it lacks the necessary skills and manpower therefore sorting to merge with the other company.A company may also merge if it plans to venture into a different business line (Ramaya, 1999).
The first challenge of merging a company is that it may lead to diseconomies of scale (Neelanjan, 1997).This is due to increased cordination costs.Production costs will also increase and in the long run result to diseconomies of scale.
Secondly,culture clash is an impact of merging companies.Different companies have different cultures.For instance one company may be highly technological while the other company is conservative (Ramaya, 1999).The end result will therefore be clashes and constant frequent conflicts.This may affect the business of the companies.
Finally,when a company merge,it may result to customer disatisfaction.Every company has a reputation in the market.The same reputation is held by the customers.If a merger happens between a highly reputable company and a company with poor image in the market then there will repurcations.This may grossly affect the business.
However,a company may chose agains merging and opt to self expansion.In the event of self expansion,a company may face the following challenges.
First,there is the challenge of unknown market and competitors.This will make the introduction of a new product to be a difficult adventure (Neelanjan, 1997).Moreso,the already existing companies may have an established customer base that might be difficult to exploit and take them away.The existing companies may decide to fight back through aggressive advertisements and promotions.
The other challenge of self expansion is personal risks.This include lack of family time and controll since one has to be entirely committed to the company (Neelanjan, 1997).
Finally,self expansion may lead to instability and financial loss.This is due to lack of time and experience.As a company increses,so do payables and receivables increase.This may lead to financial constraints.In the long run,one risks the problem of customer disastisfaction (Ramaya, 1999).
An analysis on how different forces may form a convergence between the interests of stockholders and managers.
The first scenario of convergence of the interests of the stockholders and managers is through competition.Competition may lead to stock price declines for non-performing companies resulting to take overs.This will motivate managers to work hard inorder to safeguarding their jobs thus maximizing on profits.
Secondly,renumerations of managers are depended on performance.Many corporates award stock options to managers which gain value when prices of shares increases with time.This makes managers to have an interest in making profits.
Thirdly,most corporate shares are owned by banks,insurance groups and mutual funds.These companies always employ experts to advice them on financial issues.Non-performing companies will be dropped leading to decreased prices of the stock.This may lead to sacking of managers.A manager will therefore do all he can to safegurd his job.He will increase efficiency in the system leading to high profits (Ronald, 1991).
References.
Dawson, S. (1996). Analyzing Orgonizations. Palgrave: University Press.
Gulle’n, M. (2009). The Global Economy and Financial Crisis. Pennslvania: The Lauder Institute Press.
Keynes, J. M. (1936). General Theory of Employment. New York.
Neelanjan, M. (1997). Merger Control Under the new Competition. CCL, 23-25.
Ramaya, A. (1999). Guide to Companies Act.
Ronald, B. (1991). Job Insecurity in Stockbrokers. London: MCB UP Ltd.
Smith, A. (1776). An Inquiry into the Nature and Causes of Wealth of a Country.
Financial Markets and the Global System
Capital is one of the factors of production that is needed for the creation of goods and services. Capital, just like the other factors of production, is a scarce resource. Therefore, a need to create a system to make capital available to people involved in production of goods and services. Enterprises and business organizations use capital to expand operations, acquire machinery, pay wages and salaries to employees and pay operational expenses necessary for the production of goods and services. According to Weiss (2009) business organizations can obtain capital from various sources, namely financial markets, banks, venture capitalist and business angels.
Similarly, governments, just like business enterprises, need money to fund the state operations. Though the government obtains revenues from taxes, fines and fees, government expenses may be greater than revenue obtained from these sources creating a deficit. The government, therefore, needs to fund the deficit to ensure smooth running of the state. Government funds deficit through raising funds in the financial markets. The topic on capital markets and money markets is concerned with the financial markets, and thus the purpose of this essay will be to discuss how financial markets facilitate capital transfer and the use of financial instruments in the financial markets.
Financial System
Siddiqui (2006) opines that an efficient financial system in a country promotes the standard of living of its citizens, mobilizes savings and promotes investments. A financial system of a country comprises of the following financial markets, financial intermediaries and financial instruments. As Siddiqui (2006) opines a financial system in a country facilitates transfer of funds from lenders, mainly household, to borrowers, mainly business enterprises and government. The borrowers in return pay lenders interest, dividends and other financial claims as a compensation for providing funds.
Figure 1. A pictorial representation of the financial system
Flow of funds(savings ) Flow of payments (interest, dividends)
Financial systems are either organized or non-organized depending on their structures. Organized financial systems operate within a specific legal and regulatory framework. They include financial services, financial markets and financial institutions. Non-organized financial systems are not regulated and are ad hoc systems of capital allocation. They include property owners, pawnbrokers, shylocks and chit funds.
As noted financial markets play a critical role in facilitating the transfer of funds from savers to lenders. Stanlib (n.d) adds that financial markets perform the following roles in an economy raising of capital, transfer of risk and facilitating international trade. Raising of capital is done through the capital markets and money markets, the transfer of risk through the derivatives market and facilitation of international trade is done through the currency markets. According to Siddiqui (2006) a financial market is a conduit to facilitate flow of funds where it is excess to where it is scarce, thus creating a balance in the financial system.
Jasiene & Paskevicius (2009) posit that financial markets consist of two markets that is the money market and capital market. However, some scholars disagree with Jason & Paskevicius (2009) assertion that financial markets state consists of two markets stating that financial markets consists of three markets that include money market, capital market and derivatives markets (Parameswaran, 2011). Disagreement on types of financial market is aroused by other scholars who posit that financial market consists of capital markets, money markets and credit markets. Stanlib (n.d) widened the debate about the types of financial market by including currency markets as a type of financial market. Therefore, the only types of financial markets that scholars unanimously agree to consist the financial market are capital market and money market.
Some scholars argue that money market and capital markets are similar, related markets and the only point of distinction is the duration of maturity for the securities traded in both markets. Weiss (2009) defines money markets as a market where financial products and instruments with a maturity period of a year or less than one year are traded, mostly money market instruments have a maturity period of between three months and one year. Similar observation is made by Jasiene (2001) who points out that financial instruments in the money market have maturities of less than a year, and they include commercial paper, Eurodollar certificates, treasury bills, and bankers’ acceptances, short-term certificates of deposits and negotiable certificates.
Jasiene & Paskevicius (2009) write that a capital market is a market where financial instruments designed to provide long-term financing are traded. The maturity period for financial instruments that are traded in the capital markets is more than one year. Siddiqui (2006) supports this explanation stating that the capital market is a financial market that facilitates supply and demand of long term financing that includes debt and equity capital. Jasiene & Paskevicius (2009) opine that financial instruments traded in capital markets include ordinary shares, preferred shares, long-term dated government bonds, corporate bonds with maturity period beyond one year, perpetuity.
Derivative markets, as some scholars categorize it, as a type of financial market, is a market where derivatives are traded. According to Jasiene & Paskevicius (2009), derivative market is a market where financial products and instruments whose value depends on the expected future value of the underlying tradable financial instrument are traded. Jasiene (2001) point out the warrants, options, future contracts and forwards contracts are the most traded derivative instruments. Scholars argue that the credit market is a part of the financial market state that the credit market is a financial market that facilitates borrowing and lending of a combination of short term and long term funds in non-standardized fashion. Financial products in the credit market are non-tradable and are issued by financial intermediaries for personal investment.
Financial Instruments Traded in Capital Markets
According to Siddiqui (2006), business enterprises match type of funding with the type of project to be undertaken. For instance, a long-term project is funded using long-term financing plan while short-term projects are funded using short term financing plans. A company seeking funds for its long-term project would use long-term funding options to meet its objectives. Thus, Instruments traded in the capital markets help the borrower raise capital for long-term project as capital markets are designed to help corporations in raising long-term financing. In the capital market, various instruments are traded that include ordinary shares, preferred shares, mortgages, long-term dated treasury bonds and corporate bonds.
Different financial instruments that are traded in the capital markets have different risks and returns, and therefore different investors show different appetite for different financial instruments. Jasiene & Paskevicius (2009) argue that investors when choosing a financial instrument o invest in consider investment duration, expected returns and associated risks. Bonds and equities have different returns and risks thus appealing to different investors depending on their risk tolerance levels. Bonds and equities are traded in the capital markets either on the exchange or over the counter. Trading of bonds and equities on the bourse is done in a regulated manner as all players are supposed to abide by the rules and trading practices set out by the exchange. Thus, Walmsley, J. (1998) observes that securities exchanges were established to facilitate trading, regulating and controlling transactions involving buying and selling of securities. On the other hand, trading of bonds and shares over the counter exchanges is done in a less regulated and controlled manner, thus susceptible to price manipulation.
Financial instruments that are traded in the capital markets can be traded in either primary markets or secondary markets, which are subsets of the capital market. In the primary markets, bonds and equities are traded for the first time following issuance by the holding corporation. Funds generated in the primary market following the sale of bonds and equities go to the listing company. The proceeds realized are then used to fund expansion, finance new equipments or retire outstanding securities of the company (Parameswaran, 2011). Initial public offering and listing of bonds for the first time is situations, that trading of financial instruments occurs in the primary market. In the secondary markets, only existing financial instruments are traded. According to Parameswaran (2011) secondary markets facilitates the flow of savings in an economy, enhances liquidity in the market and helps in price discovery of the financial instruments. Proceeds generated in the secondary market go to the selling investor.
The most traded financial instruments in the capital markets are equities, bonds and mortgages. Companies divide capital into portions that are sold to the public and institutional investors through primary markets. There are two classes of equities, namely preferred stocks and ordinary stocks, also known as common stocks. The two different classes of stock hold different risks. For example, in case of dissolution, preferred stockholders are paid before common stockholders. Therefore, preferred stockholders bear minimal risk than ordinary shareholders. Due to the high-risk common stockholders bear, they are allowed to dictate the direction of the company through exercising voting rights to elect preferred directors. According to Odita (n.d) common stockholders enjoy numerous benefits, such as they share residual profits of the company, they benefit from additional shares in form of bonus shares, capital appreciation in their stock holding and they can use stock certificates as collateral.
Debt instruments are another form of financial instruments that are traded in the capital markets. Debt instruments include mortgages and bonds. A mortgage is a type of financial instrument that is traded in the capital markets. According to Fabozzi (2003) mortgages are loans that are issued to individuals to purchase houses, land or other real structures. The mortgage market is the largest debt market in the United States of America. Fabozzi (2003) observes that the mortgage market is dominated by life insurance, mutual funds, commercial banks and savings and loans associations acting as lenders for residential mortgages and commercial and farm mortgages.
The government through government agencies, such as the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation, involves itself in the mortgage market through securitization of mortgages. The government uses proceeds generated from the sale of mortgage back securities to buy mortgages. A bond is another debt instrument traded in the capital markets.
According to Fabozzi (2003) a bond is a loan issued by a corporation promising investors of periodical payment called coupon during the lifetime of the bond and a lump payment called principal at the end of the maturity of the bond. Walmsley (1998) notes that bonds have unique features such as par value, which is the amount bondholders receive on maturity of the bond, coupon interest, maturity date and sinking fund. Bonds are issued by governments, state governments, federal governments, municipal council and local government. There are different classes of bonds depending on the time an issuing corporation can redeem them and how coupons are made to the bondholders by the issuing entity. Callable bonds are bonds that an issuing company can redeem before maturity; non-callable bonds are bonds that issuing entity can only redeem at maturity. Zero coupon bonds are bonds that make no coupon payment throughout the life of the bond and only make principal payment to the bondholder on the maturity of the bond. Interest only bonds or perpetuity makes coupon payment throughout the life of the bond.
Financial Instruments traded in the Money markets
According to Stanlib (n.d) money market is a financial market that provides borrowers with short term liquid funding. Commercial papers, repurchase agreements, treasury bills, negotiable certificates of deposit and negotiable bank certificates of deposit are the main financial instruments that are traded in the money market. Treasury bills are short-term debt instruments issued by governments with maturity ranging between three months and twelve months. They are the most liquid and traded money market instruments in the United States of America.
Since they are issued by the government they are considered safe, with near zero chance of default. A certificate of deposit is a money market debt instrument sold by banks to depositors. The depositor pays the annual interest and principal amount owed. CD, as they are commonly known was made negotiable by Citibank in 1961 to make them liquid. Commercial paper is an unsecured short-term debt issued by stable and well-known companies. Stanlib (n.d) asserts that corporations issue commercial papers to finance their account receivables. Repurchase agreements, commonly referred to as reports, are short term debt instruments with maturity of less than two weeks issued by large corporations and financial institutions and treasury bills act as collateral. Since the money market is interest sensitive, the market is influenced by monetary and fiscal policies, notes Stanlib (n.d).
References
Fabozzi, F. J. (2003). The handbook of financial instruments. New Jersey: John Wiley & Sons.
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�O�d�i�t�a�,� �A�.� �(�n�.�d�)�.� �C�a�p�i�t�a�l� �m�a�r�k�e�t�s� �o�p�e�r�a�t�i�o�n�s�,� �p�l�a�y�e�r�s�,� �p�r�o�d�u�c�t�s�,� �e�f�f�i�ciency, index etc. Retrieved from http://www.waifem-cbp.org/v2/dloads/CAPITAL%20MARKET%20OPERATIONS.pdf
Parameswaran, S. (2011). Fundamentals of financial instruments: an introduction to stocks, bonds, foreign exchange and derivatives. New Jersey: John Wiley & Sons.
Siddiqui, S. A. (2006). Managerial economics and financial analysis. New York: New Age International.
Stanlib (n.d). Money market and money market instruments. Retrieved from http://www.stanlib.com/Individuals/knowledgecentre/Pages/Moneymarketandmoneymarketinstruments.aspx
Walmsley, J. (1998). New financial instruments. New Jersey: Wiley.
Weiss, D. M. (2009). Financial instruments: equities, debt and alternative investments. New York: Penguin Group.
FINANCIAL MARKETS AND THE GLOBAL SYSTEM 9
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Borrowers who are mainly business enterprises and governments
Lenders who are households
Social Movements
Introduction
Social movements are structures that act to seek and fight for the rights of people, their independence in society or community whether it is mental independence or political independence. For example, in South Africa, social movements fought for the rights of the marginalized people in the community, in Brazil, the existing social movements sought to fight for the rights of Brazilian women to have land rights while in China they fought for citizen’s rights against the local government. There are two types’ directions taken, that arise from structuralists theories where they explain on urban social movements. The two directions includes; macro scale and urban social scales.
Macro scale involves urban reforms and changes acts like a contradicting explanation of global capitalism in a wider structure. In this direction, structuralist’s theories are analyzed and then used to explain equality and social justice queries on a global and national scale (Kelvin, 2004, p. 123).
The second perspective taken is based on urban social scales only. The social reforms are usually the only scales where urban social movements can air their demands and grievances. Urban social movements are based on material requirements and ambitious demands rather than criticism of the set sophisticated policies.
However, the research of social movements is mainly on city scales where human rights are susceptible to violations. The discussion of social movements in South Africa, Brazil and China will be based on the structuralist’s theories as they try to explain on urban studies without depending on globalization. It will mostly focus on the urban planning, literature, urban studies, sociological studies, political science literature, the South African academic works and Brazilian social movements that fought for women’s rights to own land and the urban China grass root movements (Kelvin, 2004, p. 125).
South African migrants had supportive movements and networks that were not publicly organized or controlled. These movements and supportive groups helped to organize forums and groups that were oriented to politics. Thus, many South African observers paid little or no attention to the political conflicts that were considered unimportant and unnecessary. South Africa was and still is a country that is capable of deciding its own destiny despite the citizen’s low income (Kelvin, 2004, p. 131).
Marxists theory argues that, production modes by capitalists, minimizes everything to its monetary value with set up structures being the only ones that matters. Marxist theory thus emphasized on economic and political institutions to create constraints. It also put an emphasis on the citizens’ agencies that were governed by Western democracies as determining factors. The theory also explained how internal contradictions were created from peoples’ relations being based on monetary issues. The working social classes of people were regarded as the only people able to revolutionize the society. Capitalist’s resilience in production modes led to societies being created only based on economic interests disregarding all other aspects of human life. Thus more inequalities were witnessed especially between bourgeoisies and proletariats.
Neo-Marxists school of thought however, did not agree that economic structures were the only aspects that determined and defined life. On the other hand, Modern capitalistic societies have been said to be institutions and organization that are flexible but also complex. They have also contributed to the increasing new goods and services being produced in the society. Production institutions have agreed to positive progressive reforms. These reforms have led to other cultural, bureaucratic and social institutions that are being used to criticize reproductive societies leading to their collapse. However, it was also noted that the only way to sustain modern life was through an existing and continuous production by economic production structures and supportive institutions (Fayong, 2008, p. 233).
Structuralism theories argued that, institutions that were economically powerful shaped political and social processes. According to Giddens, institutions and organization were like forces of people that were produced and reproduced in every social life. Structures therefore could not exist without human actions that were the structuring forces. Theses structural forces were created from social groups that were potential reformers and self aware social groups. Thus according to Giddens, social life dominance by structures instead of forces from each moment of human social life, cannot stop people from seeing themselves as bearers of production modes and cultural dopes.
In order to study the group of people in the low income earners brackets, Giddens idea that in modern cities, agency was more powerful and widespread does not apply in this scenario. This was because this class known as marginalized people had actions that did not bear results they hoped or liked, thus, the creation of behaviors that were a pattern of structures compliance emerged. However, should there have been reforms, then the agency structures changed and became tools of analysis. According to Giddens, cities being changed into more social places involved a small number of individuals who led an urban social movement that needed to be identified and understood. Agencies in South Africa such as African National Congress (ANC) challenged the then political processes because the black South Africans were oppressed. Therefore, due to the work of social movements in South Africa, the whole country as a society was reformed (Carmen, 2003, p. 256).
Sandercock in 1998 stated that, mind changes do not occur by ignoring organized political actions that are barriers for the low income earners. These low incomes and social exclusions are subjected to those without privileges of affording shelters like those of high income earners whether it is by gender, race or any discriminating agenda. Structural barriers are therefore imposed on individuals who are considered weak by powerful groups in the society to explain the inequalities and injustices done in modern cities.
Types of structural barriers.
Lefebvre used the everyday experiences and political nature to come up with barriers that were against human beings being success. These barriers were part of the usual human beings activities giving an example with Westlake in South Africa, where to access education, it was a struggle. This meant that their future was not so optimistic due to these conditions. It was therefore a structural barrier where the Cape Town rich residents had easy access to educational institutions than the Westlake residents who were held back not because they neither lacked effort nor because of their ingenuity but because of their economic status. Bureaucratic procedures such as racial controls during apartheid were perceived to be usual, ordinary and normal while in reality it should not have been the case since they constitute to inhumane practices (Kelvin, 2004, p. 133).
Brazilian Social Movements.
Brazil’s social movements arose from women demanding their rights to own land and other properties. They formed three social movement, the landless movement, the rural unions and rural women movement. Brazilian women attained their rights to demand for land from a federal constitution in 1988 which affirmed these rights. It was stated that agrarian reform of land distribution required only the civil rights of either the man or the woman whose title deed would be addressed to. This was according to Article 189 of the Brazilian constitution. However, this law was not fully implemented in the years that followed until twelve years later, when rural social movements were formed.
They sought for women’s rights in the national level to have a joint titling and land adjudication under agrarian reforms. They matched to the capital city with the coordination of Women’s Commission of National Agricultural Worker’s Union; Confederacao Nacional Dos Trabalhadoras Na Agricultura (CONTAG) and Movimento das Mulheres Trabalhadoras Rurais do Noreste (MMTR-NE) among other groups. Women’s land rights recognition was due to two reasons; productionist and empowerment. Productionist was an argument that women land rights needed to be recognized for their bargaining power to be more enhanced in the community and household. It was crucial that women subordination to men be ended for there to be equality between men and women. Therefore, in legal terms, women’s land rights were a by product of the process that sought equality (Carmen, 2003, p. 259).
Effects of social movements in Urban China
In Shanghai China, just like the other two mentioned countries; South Africa and Brazil, social movements were formed by marginalized class of citizens especially low income earners. However, unlike the rest, the middle class were also involved in taking actions of the social movements. Social capital was required to deal with resistance of social movement actions and for their success. The protesting ways of Chinese citizens and state support were also contributory factors.
All protests were well coordinated and funded by activists either through capital or law resources. Social movements in China defended specific interests and promoted grass root democracy of Chinese citizens. For China, in order to challenge local governments’ powers and actions, the social movements sought the support of high ranking authorities. Chinese local government was regarded to violate citizen’s rights and therefore, any actions by social movements were usually directed to the local government rather than the civil societies or the powerful central state. This to them was the only way to ensure Chinese citizen rights and interests were defended and enhanced (Fayong, 2008, p. 235).
Conclusion
In South Africa, political awareness especially by Black South Africans was formed from so many years of racial discrimination and resistance. South African citizens were thus left to be knowledgeable people on their rights and to be mentally independent. Therefore, the challenges social movements in South Africa faced could have brought more success should the national condition in that country have been different.
On the rights of Brazilian women, women who were in power were the main reason for raising their issues. Those who were in rural unions, CONTAG, CUT, MMTR, CNDR and other organizations that came and collaborated also hugely contributed and explained why women had to have land ownership rights. Their success was from the unified efforts of all social movements to end women discrimination in the agrarian reform. However, the legality obtained was that joint titling and land adjudication was optional and not mandatory which meant that, women’s land rights were not implemented fully.
Thus, female beneficiaries of reforms made in 1990 did not increase. Rural social movement’s main priority was to secure women’s land rights while class and gender were considered incompatible by the main social movement that determined the agrarian reform pace on landless movements. The results of Green Neighborhood social movement resistance to social political forces in China enhanced local social capital and governance by reliving associations, making the local decision and other civic processes more democratic and improvement of neighborhood environment.
References
Carmen, D.D. (2003). Women’s Land Rights and Rural Social Movements in the Brazilian Agrarian Reform, Journal of Agrarian Change, 3(1&2): 257-288
Fayong, S. (2008). Social Capital at Work: The Dynamics and Consequences of Grass root Movements in Urban China, Critical Asian Studies, 40(2): 233-262
Kelvin, D. (2004). New Urban Social Movements in Cape Town and Johannesburg, Urban Forum, 15(2): 123-256
SOCIAL MOVEMENTS 7
Running Head: SOCIAL MOVEMENTS 1
Chinese cultural practice of foot binding
Introduction
Cultural practices vary from one community to another. Some cultural practices are unique in certain communities. It is important for anthropologists to understand each cultural aspect serves an important function in the society. However outdated, backward, or foolish a certain cultural practices may seem, it should be respected. Because no culture is superior to another, people should learn to appreciate other people’s culture. In this paper, I undertake to discuss foot binding as an important cultural practice in China, which to some people is bad, but the practice played an important role in China.
Foot binding involves tying the four small toes beneath foot then the bone between the ankle and foot is bent. The practice hinders normal development of foot making the foot small. Foot binding is normally done to young girls during, which their legs are tied tightly to prevent further growth. The practice traces its origin from court dancers in China during Song Dynasty’s rule. The elite and families from upper class were the first groups in China to embrace the practice. Later, foot binding became a common practice among all classes in China.
However, foot binding was not practice by all societies in China. The Manchu’s and women who worked in plantations did not practice foot binding. For the Chinese foot binding is a symbol of beauty and it makes women appear more feminine. Foot binding among the Chinese society ended in the 20th century when human rights activists campaigned against it citing the negative effects it causes to girls. Foot binding causes deformities. Although the practice has been abolished in China, there are still few old women suffering because of the practice (Wang, 2000).
Procedure of foot binding
Foot binding was performed to young girls usually at the age of six or seven years. Although very painful, girls from poor families had their foot bound at an older age because they were required to provide labor in farms and households. The practice is usually to small children because their bones are brittle making it easy for bending of bones. The practice is carried out during winter because they believe that pain is reduced by numbness. A mixture of herbs and animal blood is prepared and warmed for the girls to soak their feet. The mixture makes the binding process easy because it softens legs. The feet were also messaged gently to help girls get ready for the practice. To prevent infections, nails were trimmed to prevent further growth. Bandages soaked in the mixture were used in tying the legs (Ma, 2010).
According to Ma (2010), the bandage is tightened forcing the small toes to lie under the foot. After tying, the big toe and the heel were pulled together and the foot was curved making the foot smaller. This was achieved through downward and backward pulling of bones. The metatarsals and bones were pulled together. The result of the practice was a short narrow foot. After foot binding, the foot looked like a crescent that hangs vertically on the ankle of foot instead of a normal foot with a flat base. The Chinese referred to the short, narrow, and crescent shaped foot as golden lotus. Parents who also took care of the girls and ensured that bandages remained tight mainly performed the practice. This is ironical because the practice is very painful and parents managed to make their lovely young daughters go through the practice without pity.
Care of the foot
To attain the preferred foot size and shape, the bandages were tightened from time to time. Girls were also given small tight shoes to prevent further growth of the foot. It took a period of two year for completion of foot binding after which feet became weak and functionless. Parents took the responsibility of cleaning the feet. This included manicure and daily washing of the feet. Manicure was very important to prevent nails from growing and pricking the soft foot which could cause infections to the foot. The feet were massaged frequently with warm water to reduce pain and enhance free circulation of blood. However, it is also dangerous to tighten the bandage excessively as it poisons blood through limited circulation of blood. Sometimes toes develop painful corns. In such cases, a knife should be used to cut them off. Reduced circulation of blood may cause rotting of the foot. Binding feet at a later age is more painful because the same size of shoes three to four inches is forced into the large feet (Levy, 1966).
There is a Chinese saying that every pair of shoes cost a bath of tears. This is a clear indication of girls go through much pain for their feet to get to the required shape and size. Pains decreased with time. By the end of the two years, body cells become insensitive and die causing no more pain. The practice changes body movement and walking style. Bound feet make it difficult for the girls to walk. After binding, the shape and size of the leg is determined by various factors.
These include the age of the girls at the time of binding and the tightness of the bandage used in wrapping the feet. Foot binding at a tender age as well as tight binding produced small legs. Movement was determined by the feet size and shape. Small feet made it difficult for women to walk. This was a disadvantage to women who could not carryout domestic duties because of difficulties in moving. Because the practice was first embraced by the elite and high class families, it is in these families that women with the smallest feet were found. Their husbands hired servants to carry out activities on their behalf. The majority of moved from place to place with assistance of other people walking was a difficult task. However, the condition of an individual determined her ability to move. Some struggled to walk on their own while others used canes. Proponents of foot binding compared the women’s style of walking to that of a butterfly floating in water (Giskin and Walsh, 2001).
Importance of foot binding among the Chinese
Giskin and Walsh (2001) state that bound feet were a symbol of beauty among Chinese. Men were recognized, respected, and valued in the society because of marrying wives with bound feet. In order for men to be respected people in the society, they sought to marry women with bound feet. The shape and size of the feet of women determined the status of their husband in the society. Small legs were ranked highly in the society. When choosing wives, men did not only consider those with bound feet but also those with the smallest. Women were forced by culture to undergo the painful experience to get husbands. Women with bound feet had higher chances of getting married to wealthy men than those in their natural feet. Because every woman wished to get a rich husband they accepted the practice with some girls getting their feet bound by themselves.
It was a common belief among the Chinese that small feet are erotic and attractive. They believed that men were aroused sexually by small feet. Women with bound feet were also believed to be sexually active. Men liked them because they were assured that their sexual desires will be satisfied. This is the reason women with natural feet could not get husbands easily. Men feared that they will be dissatisfied sexually if they married them.
The Chinese believed that the main function of women is to satisfy their husbands’ sexual needs. Men referred to women as dependent people that required the help of men. Men were supposed to provide for the needs of women because of their inability to move. Because women were fully dependent, they were forced to obedience. This is an indication that women did not participate in decision-making in China because men dominated the society. The fact that women were treated as sex objects shows that men exploited Chinese women. Foot binding reduced the movement of women. This reduced incidences of unfaithfulness in marriage because they could not move freely. It was a custom that women were available to satisfy sexual needs at anytime. Foot binding was practiced in honor of the Ming Dynasty by Hans, which elapsed in 1644. The last Han dynasty that ended badly with the emperor committing suicide was the Ming. The Manchu’s took over from the Ming Dynasty. There is an assumption that Hans began the practice to rebel against the Manchu’s (Ma, 2010).
Greenhalgh (1977) argues that foot binding was done to maintain the status the family. For the girl’s father, he was sure of receiving valuables from whoever would marry his daughter. The society practiced arranged marriage where the father took the responsibility of getting a suitable husband for the daughter. Because it was his responsibility, he ensured that the marriage was of social and financial benefit to not only the girl but also the family at large. The girl’s value was increased by foot binding so that the family benefitted from bride price. It ensured a peaceful and happy marriage union because girls remained obedient. Social pressure pushed many people to adopt the practice.
Failure to embrace the practice could lead to discrimination in the society. Although men established the practice, it gained popularity among women. In some cases, women with bound feet ridiculed their fellow unbound women. Duck foot was the title used to refer to women with unbound feet. People laughed, scorned, ridiculed, and mocked at them in public. Socialization between people with bound feet and those without was a problem because women with unbound feet were regarded as outcasts in the society. Many girls had their feet bound to avoid discrimination in the society.
Effects of foot binding
The practice is a taboo in my community and many others because of its associated negative effects to the victims. First, foot binding transforms the entire life of women. Unlike women with natural feet who can depend on themselves, foot binding makes women full dependant. Inability to carryout normal duties is referred to as a disability. Foot binding is a kind of personal induced disorder. The practice leaves women disabled because they can no longer walk or work by themselves.
Dependency increases the chances of men oppression or violating women rights. Arranged marriages were very common the Chinese. It was the duty of the parents to choose their daughters husband. Arranged marriages are not good because the choice of the husband may not fit needs of the girl. For a marriage union to be successful, partners should interact and learn the behavior of each other during courtship. This enables them to determine if they can cope with each other. Wrong marriage partners may lead to problems in marriage and divorce. Opponents of the practice argue that choice of marriage partner should be left to the girls (Greenhalgh, 1977).
According to Gates (1989), foot binding is a dangerous practice, which denies women freedom of movement. Women are forced to spend much time in chambers. This is violation of women rights because their movement is limited within the compound. Secrecy and confidentiality is also affected because women must move with the help of other people. The practice prevents women from visiting places they could have wished to be alone. Foot binding may cause other medical problems.
Development of painful corns and feet infections may result from the practice. Foot binding is a painful practice, which may cause death. Any cultural practice, which puts the life of people in danger such as female genital mutilation, same-sex marriage, and foot binding, are not suitable and they should be discarded in the community. Men took advantage of the practice to violate women rights. This is because they considered them as sexual objects to fulfill their bodily desires. Last, foot binding is against the doctrine. God created human beings on the sixth day in his own image and likeness. Foot binding is an interference of what God.
Decay of foot binding
Foot binding was first opposed in China during the Quing dynasty under the leadership of Manchu. Although he was not successful, Manchu and his family abolished the practice. However, he paved the way for the missionaries who came later. To terminate foot binding, families joined and formed Unions. The societies advocated and preached advantages of natural over bound feet. Member families did not allow girls with bound feet to be married in their families. The Government of China established laws banning foot binding although some people continued with the practice in secrecy. Even today, there are some women who had their feet bound during their childhood in Taiwan and China (Gates, 1989).
Conclusion
Foot binding was a deeply rooted practice among the Chinese and it was passed across generations. The aim of Chinese was not to torture or expose girls to suffering but it was a source of wealthy to the family. However, movements against foot binding have led to termination of the cultural practice in China. Human rights activists argue that the practice is a kind of oppression against women. Foot binding and other cultural practices that endanger lives of women should be banned in societies.
Works Cited
Gates, H. (1989). The Commoditization of Chinese women. Signs, 14: 799-832.
Gikin, H. & Walsh, B. (2001). An introduction to Chinese culture through the family. California: Suny Press
Greenhalgh, S. (1977). Bound feet, Hobbed lives: Women in Old China. Frontiers, 2: 7-21.
Levy, H. (1966). Chinese footbinding: the history of a curious erotic custom. Califonia: W. Rawls
Ma, S. (2010). Footbinding: A jungian engagement with Chinese culture and psychology. New York: Taylor & Francis
Wang, P. (2000). Aching for beauty: Foot binding in China. New York: U of Minnesota Press
CHINESE FOOT BINDING 1
Why Children Join Gangs
Teenagers find it difficult to understand themselves and the world surrounding them. In pursuit of defining themselves, they often associate with people with similar characteristics. They also associate with people who seem supportive, understanding and who provide basic needs, companionship, and emotional support. When they lack people to associate with or support them, they join gang groups (Violence Prevention Institute 1).
Sometimes children join gangs because they lack an alternative. They may not be interested in gang membership, but lack ways of avoiding the situation. This occurs in children who feel insecure because they lack parental love and necessary support. Children may also join gangs to protect themselves from rival gangs or from their relatives are gangsters. Others join gangs as a way of preventing boredom. Children may also be attracted to gang’s activities, which seem exciting to them. Gangs are drawn to drugs and criminal activities that provide opportunities for quick money; this can make children join gangs (Johnson 3).
What Children Seek By Joining Gangs?
Children seek various things when they join gangs and the first is identity. Gangs members are hardly recognized in the world surrounding them, and they receive some sense of belong from gangs. Second is fortification. Joining a gang provides protection from opponent gangs, especially in a society with a number of gangs. Third is fellowship. Family structure in the present-day society has crumbled. Children seek the sense of fellowship in gangs if they cannot find it at home. In addition, children join gangs as a result of intimidations. A number of children join gangs following assaults and threats. They are recruited through beatings and initiations. There are other various personal reasons that make young people to join gangs. They include monetary benefit, increase of sense of worth, peer pressure, recognition, exhilaration of gang activity, attention, and need to belong among others. Most of the affected children come from weak family structures (Johnson 25).
Works cited
Johnson, Julie. Why Do People Join Gangs? Chicago: Heinemann, 2001.
Violence Prevention Institute. “Why Young People Join Gangs and What You Can Do.” 2012. Violence Prevention Institute. 15 March 2013 <http://www.violencepreventioninstitute.com/youngpeople.html>.
Insert Surname 2
Organization Theory
Modern Structural Organization Theory
As research suggests, it is most probable that when somebody talks concerning the formation of an organization, that individual is referring to the comparatively stable affiliations amid the ranks and sets of ranks (factions) that constitute the organization. The modern structural organization theory is interested with vertical delineations involving organizational entities, for instance, involving product and service processions, ecological areas, or proficiencies. Moreover, the organization chart is viewed as the always-available implement for the structural association theorist. As basic assumptions, it is affirmed that the tag modern is employed in differentiating the most current writers of structural organization theory from before the Second World War – established theorists like Weber and Taylor. The following are the fundamental assumptions of the modern structural discipline by Lee Bolman and
Terrence Deal.
Both division of labour and specialization augment the merit and capacity of production, principally in top expertise functions and occupations.
Organizations denote coherent institutions with the basic intention of attaining established aims; coherent organizations’ conduct is best arrived at via networks of delineated regulations and formal influence. The management and dexterity of an organization are vital for sustaining organizational prudence.
There exists the most excellent formation of any organization, or a suitable structure, with respect to its outlined aims, the ecological situations it engages (for instance, its market, existing directives, and competition), the kind of its products and services (the most excellent structure for an administration consulting company perhaps is considerably dissimilar from that of a certified public accounting company), and the expertise of the production practices (for example, mineral-based companies have dissimilar excellent structures from that of companies manufacturing computer parts).
The majority of setbacks facing any organization are caused by structural imperfections and could be sorted out through a re-organization of the structure.
ORGANIZATION THEORY 3
Running head: ORGANIZATION THEORY 1