Thursday, October 10, 2019
Defining the Humanities Essay
After reading this weekââ¬â¢s lecture and my understanding of what humanities are is the study of what people have experienced and how they express this experience. Humanities are how people have interacted throughout their existence and how people interact today. Humanities are the study of the philosophical beliefs of a culture. The philosophical approach to understanding a culture is what separates humanities from science and history. Science and history are exact and rarely are open for debate once it is proven to be fact. Science will set out to prove its point, whatever it may be, through precise calculations. Science also studies theory and probability. Science lacks imagination in their calculations whereas humanities use imagination to understand past culture. Science wants to prove how people came to exist whereas humanities seek to understand why people exist. History is different from humanities because history studies documentation as facts and undisputable regarding what happened. Humanities seek to answer why it happened and to understand it. History was recorded in books in libraries, Humanities are written on walls in caves or in the design contained in buildings. Today cultures express their interests, their experiences, and their values through many forms such as art, music, and movies. Sharing experiences is perhaps the most basic form of explaining who people are. By sharing these experiences in the forms of art, music, and movies, it allows us to share information about us through our creativity. In todayââ¬â¢s culture these three forms of expression allow people to show their individuality and to connect with many on different levels. Art takes many forms and is interpreted by an individual differently. Colors and design reflect our feelings. Black and white expresses loneliness and pain whereas bright colors express happine ss. A painting for example, allows an artist to express themselves in a way he or she feels. It is their visualization of their thoughts (Kitchin, 2004). Society looks at the painting and is free to interpret it their way. One person may see happiness whereas another sees sadness. A picture of time square could mean chaos and seem overwhelming to one from a rural area where someone from a city sees everything he or she needs. People continue to express themselves with music. The meanings behind the words of the songs often come from the feelings and the experiences of the author. It is the responsibility of the musician to express those feelings and experiences through sound. Music with soul (Hakes, 2011). Music has been very important to our culture. Think of how important the Beatles were to world or even the Grateful Dead. My personal favorite band is Linkin Park. They are my favorite because I can relate my life to the words of their song. Their music attracts those who appear to be weak or who do not appear to be societies strongest. Their song ââ¬Å"The Little Things Give You Awayâ⬠was written about Hurricane Katrina. The devastation from Hurricane Katrina was widespread devastation. Their song attempts to reflect through music the pain and suffering affected by it. Movies are much like music however instead of only simply able to hear words and visualize it; the movies create the visualization for the person. Movies use categorization such as romance, action, and drama. Movies based on real life events attempt to capture those events and explain them. Movies can show the romance side of a situation or even the heroics. The recent movie Argo is about the falling of the United States Embassy in Iran, which was overrun. This movie reflects the horror that six members went through while showing the heroics of a CIA member to return the members of the Embassy to the United States. These three forms of expression will continue to exist as time continues. They are acceptable means of expressions and are a very important part of todayââ¬â¢s society. All three bring joy to people and if capable a person can express him or herself like none before. References Kitchin, M. (2004). Art and expression. Retrieved from http://www.students.sbc.edu/kitchin04/artandexpression/artandexpression.html Hakes, T. (2011, March 11). Music as expression vs. music as entertainment. Retrieved from
Wednesday, October 9, 2019
Sustainable Tourism Development
This article was downloaded by: [113. 210. 1. 106] On: 22 March 2013, At: 07:28 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK Journal of Sustainable Tourism Publication details, including instructions for authors and subscription information: http://www. tandfonline. com/loi/rsus20 A Framework of Approaches to Sustainable Tourism Jackie Clarke Version of record first published: 29 Mar 2010.To cite this article: Jackie Clarke (1997): A Framework of Approaches to Sustainable Tourism, Journal of Sustainable Tourism, 5:3, 224-233 To link to this article: http://dx. doi. org/10. 1080/09669589708667287 PLEASE SCROLL DOWN FOR ARTICLE Full terms and conditions of use: http://www. tandfonline. com/page/ terms-and-conditions This article may be used for research, teaching, and private study purposes. Any substantial or systematic reproduction, redistribution, reselling, lo an, sub-licensing, systematic supply, or distribution in any form to anyone is expressly forbidden.The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae, and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand, or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013 A Framework of Approaches to Sustainable Tourism Jackie ClarkeSchool of Business, Oxford Brooks University, Wheatley Campus, Wheatley, Oxford OX33 1HX Based on an extensive literature review, this paper proposes a framework of approaches to sustainable tourism. The framework is composed of four positions, chronologically sequenced according to th e dominant understanding of sustainable tourism as a possession or goal. The positions are those of polar opposites, continuum, movement and convergence. The framework offers insights into the development of the sustainable tourism concept and enables identification of an authorââ¬â¢s approach to the concept. Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013Introduction The understanding of sustainable tourism has developed from the early ââ¬Ëis it or isnââ¬â¢t it sustainable tourismââ¬â¢ debate, to the acceptance that research energy should be channelled into practical ways of assisting all forms of tourism to move towards sustainability. The fundamental difference is the assumption of the former, that sustainable tourism is, in some manner, already a possession of certain types of tourism or situation, against the acknowledgement of the latter, that sustainable tourism is not an inherent characteristic of any existing form or situation, but a goal that all touris m must strive to achieve.The tremendous volume of output on the subject over the last decade (Brown, 1991) has contributed to the recognised ambiguity in terminology (Beioley, 1995; De Kadt, 1990; Lanfant & Graburn, 1992; Murphy, 1994; Pearce, 1992, etc. ) and the surfeit of labels. For example, ecotourism has no unequivocal usage. It has been expressed as a symbiotic relationship between tourism and nature conservation (Farrell & Runyan, 1991; Valentine, 1993), been equated with nature tourism (Boo, 1990), and constructed as a Venn diagram (Buckley, 1993; Wight, 1995). Occasionally, labels are combined to produce hybrids (see, for example, Dernoi, 1988; Wight,l995).As a concept, sustainable tourism is still evolving. A Framework of Approaches to Sustainable Tourism Based on a critical literature review of both academic and industry contributions, the proposed framework comprises four positions of understanding of sustainable tourism. These four positions: à · are broadly chronolog ical, reflecting the dominant approach to sustainable tourism and offering insights into the conceptââ¬â¢s development; à · provide a structure within which an authorââ¬â¢s approach to the concept may be identified, affording insights for literature reviews.The framework is envisaged as complementary to other work (see, for example, Cazes, 1989; Pearce, 1992). As early literature commonly fixed on scale as the distinguishing feature, this is the unifying theme for the framework. As a 0966-9582/97/03 0224-10 $10. 00/0 JOURNAL OF SUSTAINABLE TOURISM à ©1997 J. Clarke Vol. 5, No. 3, 1997 224 A Framework of Approaches to Sustainable Tourism 225 criterion, scale has shifted from an emotive or even antagonistic role to neutral ground. An overview of the framework shows the positions forming two pairs.The first pair regard sustainable tourism as a current possession of a particular scale of tourism, whilst the second pair treat the phenomenon as a goal to be striven for. Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013 The first position of polar opposites A term adapted from Pearce (1992), the first, and probably the earliest of the four positions, was that of mass tourism and sustainable tourism conceived as polar opposites (see Figure 1). Alternative tourism was the popular label for sustainable tourism, mutual exclusion being implicit in the term.As a force, sustainable tourism was understood to be pulling away from mass tourism, which served as a point of repulsion (for commentary, see Butler, 1991; Cazes, 1989; Krippendorf, 1987; Nash, 1992; Richter, 1987; Travis, 1988; Valentine, 1993). Thus, sustainable tourism and mass tourism were stereotyped as the ââ¬Ëgoodââ¬â¢ and the ââ¬Ëbadââ¬â¢. The negative social and environmental impacts experienced at destinations were attributed solely to mass tourism, which was couched in emotive terms such s ââ¬Ëhardââ¬â¢, ââ¬Ëghettoââ¬â¢, or ââ¬Ëdestructiveââ¬â¢ tourism. Of course, mass tourism also related to scale, and the scale of the tourism involved was the principal defining characteristic for the polar opposite approach. Wheeller (199la) summarised scale as the focal point: the traveller is preferred to the tourist, the individual to the group, specialist operators rather than the large firms, indigenous accommodation to multi-national hotel chains, small not large ââ¬â essentially good versus bad. Wheeller, l991a, authorââ¬â¢s emphasis) Representing mass tourism, a Director of the Thomson Travel Group lampooned the approach by recounting his situation as an ecotourism speaker at a Royal Geographical Society gathering as being: rather like a cattle baron addressing a congress of vegetarians. (Brackenbury, 1992: l0) At its most extreme, advocates of alternative tourism pressed for a total replacement of mass tourism (cited in De Kadt, l990, 1992; Lanfant & Graburn, 1992) and of Cohenââ¬â¢s (1972) institutionalised tourist.Arguably, the position of polar opposites was strengthened by the presentation of mass versus sustainable characteristics in diametrically opposed tables (see, for example, Krippendorf, 1982; WTO, 1989). Such tables were developed into concrete notions of ââ¬Ëbadââ¬â¢ versus ââ¬Ëgoodââ¬â¢ (see Lane, 1989, 1990). ââ¬ËMass tourismââ¬â¢ Conceptual barrier ââ¬ËSustainable tourismââ¬â¢ Figure 1 Position 1: polar opposites 226 Journal of Sustainable Tourism Thus the earliest understanding of sustainable tourism was one of a dichotomised position.Believers in the polar opposite approach clearly regarded sustainable tourism as a possession of an existing type of tourism based on small scale characteristics. Ownership was claimed by tourism forms opposed to mass tourism. In short, small was synonymous with sustainable. Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013 The second position of a continuum By the 1990s, the original position of polar opposites was generally rejected as u nproductive, but the notion of a continuum between sustainable tourism and mass tourism presented a flexible adaptation of the earlier ideas (see Figure 2).In recognition that sustainable tourism utilised the infrastructure, transport and reservation systems of mass tourism (see De Kadt, 1990, 1992; Krippendorf, 1987; Wheeller, l991a), spawned an accompanying tourism industry structure (see Cohen, 1987, 1989; Krippendorf, 1987), and had the potential to develop into mass tourism if not properly managed (Butler, 1990, 1992; Tourism Concern, 1992), the simplicity of polar opposites was adjusted to a continuum between the two extremes. Variations were appropriately placed along the spectrum (see, for example, Davidson, 1992).Although allowing some measure of degree, the continuum understanding of sustainable tourism still regarded the phenomenon as a possession and used scale as the defining criterion. Polar opposites and continuum therefore formed a natural pair. However, the continuu m approach to sustainable tourism was only ever loosely established; understanding was moving in a new direction. ââ¬ËMass tourismââ¬â¢ ââ¬ËSustainable tourismââ¬â¢ Figure 2 Position 2: continuum Criticisms: too simple, too impractical Criticisms and queries have been voiced over these early approaches to sustainable tourism.The idea of polar opposites representing ââ¬Ërightââ¬â¢ and ââ¬Ëwrongââ¬â¢ was denounced as ââ¬Ëgrossly misleadingââ¬â¢ (Butler, 1990). Most criticisms related to one or both of the following: à · Too simple: the inadequate appreciation of tourism as a dynamic and complex phenomenon resulting in the inherent flaws in this understanding of sustainable tourism. à · Too impractical: the question of scale and the inability of this narrow view of sustainable tourism to offer practical solutions to the global problem of the burgeoning volume of tourist arrivals.Tourism is a complex and dynamic phenomenon (Heath & Wall, 1992; Przeclawski , 1993), yet sustainable tourism from the polar opposite and continuum positions assumed a homogeneity and simplicity in conflict with reality (Cooper et al. , 1993). Faced with the dramatic growth in international tourism from the 25 million trips of 1950 (WTO, 1993) to the 531 million of 1994 (WTO, 1995a) and its continued predicted growth (WTO, l995b), the replacement of mass tourism with the sustainable tourism promoted by the two positions was illogical. Being small scale, sustainable tourism lacked the capability (Butler,A Framework of Approaches to Sustainable Tourism 227 Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013 1990; Cohen, 1987; Cooper et al. , 1993; Fennell & Smale, 1992; Pearce, 1992). Sustainable tourism could neither manage the number of arrivals nor replace the economic benefits accrued (Butler, 1992; Cohen, 1987). For Wheeller (1990, l991a, l991b), the idea was a ââ¬Ëmicro solutionââ¬â¢ struggling with a ââ¬Ëmacro problemââ¬â¢. Furthermore, this understanding was inward-looking, failing to recognise the importance of other industry sectors and the wider perspective of sustainable development (Hunter, 1995).Indeed, the second pair of positions better demonstrate the influence of the sustainable development landmarks that shaped the concept (for example, IUCN, 1980, 1991; The World Commission on Environment and Development, 1987; the GLOBE ââ¬â¢90 and ââ¬â¢92 conferences; The United Nations Conference on Environment and Development with Agenda 21). Other criticisms concerned issues such as elitism (Cazes, 1989; Richter, 1987), the problems of ensuring local ownership and control (Cater, 1992), and inbalances in power (Wheeller, 1990, l991a, l991b).Butler (1990) argued that the approach to sustainable tourism portrayed a static picture of impacts. The revision of features related to time and process produced a less flattering scenario (Butler, 1990). For example, the more intense contact between host and guest over a longer duration resulted in greater damage to the fragile host culture than was readily apparent in the ââ¬Ëgoodââ¬â¢ versus ââ¬Ëbadââ¬â¢ tables. The emergence of these tables was partly a response to an over-simplistic interpretation of Krippendorfââ¬â¢s work (1982, 1987). Krippendorf (1987) was not opposed to mass tourism as long as it progressed towards ââ¬Ëharmoniousââ¬â¢ tourism.In fact, he urged that: only if we succeed in living with tourism as a mass phenomenon, ? , can we claim to have made a decisive step forward, (Krippendorf, 1982: 111, authorââ¬â¢s emphasis) an assertion often overlooked by proponents of a polar opposite or continuum approach. The third position of movement Criticisms of the earlier understandings of sustainable tourism, coupled with a closer alignment to sustainable development, resulted in the demand to change mass tourism to more sustainable forms (see, for example, Bramwell, 1991; Butler, 1990, 1991; Cohen, 1987; De Kadt, 1 990; GLOBE, 1990; EIU, 1992).If the main problem of modern tourism is that of its huge number, (Krippendorf, 1987: 42, authorââ¬â¢s emphasis) then mass tourism was the most visible and sensible candidate for initial reform. The sustainable tourism as understood under movement differed from the earlier definitions of sustainable tourism on three key dimensions: à · The issue of scale became more objective and less emotive. Mass tourism became the subject for improvement, rather than the derided villain. à · Sustainable tourism became the goal for attainment, rather than the possession of an existing scale of tourism. Operationalising current knowledge to move towards the goal became the 228 Journal of Sustainable Tourism (ââ¬â¢mass tourismââ¬â¢) Large scale tourism Sustainable Tourism Goal Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013 Figure 3 Position 3: movement practical focus of effort, rather than the ââ¬Ëis it or isnââ¬â¢t it sustainable tourismââ¬â ¢ debate of previous years. Figure 3 illustrates the understanding of sustainable tourism by movement advocates. As a label, large scale tourism is preferred to mass tourism, for it sheds the negative connotations.Viewed objectively, large scale tourism possesses strengths which could be used to advantage: à · The environment is attacked by other industries, such as mining and manufacturing (EIU, 1992; McKercher, 1993), and tourism is dependent on environmental quality. The tourism industry must protect its assets; size is important, as large players exert pressure through lobbying power. à · Large scale operators have the marketing and communication skills, plus contact opportunities in bulk, to actively foster interest in sustainable tourism amongst the millions of consumers who purchase their products. Large size confers influence over suppliers and distributors, which could be used as a persuasive force for the introduction of sustainable policies along the supply chain. Of c ourse, there are less altruistic reasons for large scale tourism to instigate movement towards the sustainable tourism goal. The imposition of environmental regulatory control by governments grappling with world problems of acid rain, ozone layer depletion and global warming require a minimum response of compliance.From the demand side, the rise of consumer interest in green issues (see ETB, 1992a, 1992b; Green, 1990) provides the classic incentive of consumer needs. The interest expressed by consumers through financial institutions in environmental practices is a further motive. There are over thirty an ag em en im ts pa ct ys -e as nv ses tem iro nm s s ââ¬â re ent men use t al Guid , re au eline cyc di s for le, red t susta uce inab le to urism Equity Company/organisation focus ta lm s pac im cts al pa lob G im al sic y ph al/ gic olo Ec (ââ¬â¢sustainable tourismââ¬â¢) Small scale tourism iro nm en En v -e nv iro nm e nt al A Framework of Approaches to Sustainable Touri sm 229 Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013 environmental or ethical funds in the United Kingdom, representing approximately ? 750 million of investment; according to independent financial advisors Holden Meehan (1994), the idea of ââ¬Ëprofit with principleââ¬â¢ has moved from the fringe to the mainstream.Investors are stakeholders requiring satisfaction. There are many examples of large scale tourism proactively moving towards the goal of sustainable tourism (see Middleton & Hawkins, 1993, 1994; WTTERC, 1991ââ¬â1994). British Airways was one of the first tourism companies to publish an environmental report (British Airways, 1991), the International Hotels Environment Initiative was a sector-specific project (Van Praag, 1992), whilst the ââ¬ËGreen Globeââ¬â¢ programme was targeted across the tourism sectors (WTTERC, 1994).The World Travel & Tourism Council, a coalition of Chief Executive Officers from international tourism companies, established th e World Travel & Tourism Environment Research Centre (WTTERC) to monitor, assess and communicate objectives, strategies and action programmes in respect of environmental management (WTTERC, 1992). Over one hundred guidelines and codes of practice relating to tourism were identified (WTTERC, 1993); the environmental guidelines of the WTTERC itself provide a useful synopsis of the large scale understanding of sustainable tourism (WTTERC, 1992).As Figure 3 demonstrates, the focus of this approach is on the physical/ecological environment, with an emphasis on environmental management systems, incorporating techniques such as environmental audits of products, processes and issues, and environmental impact assessments. The fourth position of convergence The framework culminates in a position of convergence (see Figure 4). This position represents the latest understanding of sustainable tourism as a goal that all tourism, regardless of scale, must strive to achieve (see, for example, Inske ep, 1991).Accepting that the concept of sustainable tourism is still evolving, the absence of a precise goal definition is less important than general movement in the correct direction. Appreciating the wider role of sustainable development, this final position recognises two interpretations of sustainable tourism. The large scale interpretation of sustainable tourism (as portrayed in position three) has a dominantly physical/ecological perspective expressed as a business orientation. The small scale interpretation of sustainable tourism offers a social slant from a local or destination platform.It is akin to the understanding of sustainable tourism as alternative tourism under position one, except for the crucial recognition of the concept as a goal rather than a possession. Both interpretations: à · focus on the implementation of their current knowledge of sustainable tourism to move towards the ultimate goal of sustainability; à · seek future progress towards the desired goal t hrough the twin processes of further development of ideas inherent in their own interpretation and by adaptation of ideas found in the other.Together, this results in convergence towards the goal of sustainable tourism. For example, in this quest, large scale tourism is experimenting with techniques for inducing shifts in tourist behaviour compatible with environmentallyfriendly travel, an educational component instigated by the small scale enterprises. Thomsons now provide environmental guidelines for guests; TUI 230 Journal of Sustainable Tourism Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013 Large scale tourism al nm vi ro En Figure 4 Position 4: convergence ave produced an environment ranking for products featured in all their mainstream Euro-brochures. In turn, small scale enterprises are learning about the development of effective environmental management systems, originally the territory of large scale organisations. In the UK, the environmental audit was promoted fo r small scale concerns by the West Country Tourist Boardââ¬â¢s (1993) ââ¬ËGreen Audit Kitââ¬â¢; the project was then taken nationwide. In addition, by embracing sustainable development, both interpretations are receptive to further ideas generated from outside the tourism sector.Like large scale tourism (see position three), the small scale interpretation of sustainable tourism has produced guidelines and codes of good practice (see, for example, ETB, 1991; Countryside Commission, 1991; Green, 1990), established destination-based projects (for example, the Devon-based Tarka Project) and offered and disseminated advice to interested parties (ETB, 1992a, 1992b, 1993). -e nv iro nm en ta l en t im g olo Ec m an ag em y ph al/ ic al sic en ts pa ct ys -e as nv s e s te m ir o nm sm s ââ¬â re en use tal ent Guid , re au eline cyc s for le, r dit sust edu aina ce ble t ouri sm Equity Company/organisation focus ba Gl p l im s act p im Sustainable Tourism Goal ts ac Local area identity focus Equity Guid e Loc lines for al c sust ont aina Ed rol ble t uc ouri ati To sm on u of Au ris hos tc th t/to e n ha r uri tic act st ity eri s ti cs s act ts mp pac y al i rit ultur l im a c teg loc In o cial/ tion/ a S stin De Small scale tourism A Framework of Approaches to Sustainable Tourism 231 The completed framework Taken as a whole, the framework both structures and partially explains some of the conflicts and debates that have occurred in sustainable tourism.Although due regard should be given to the limitations of a framework based purely on a literature review and purporting to be complementary in nature rather than encompassing, it does present insights to past development whilst taking a view as to the direction of future advances. 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(1992) Industrial leadership: A practical example in the hotel industry.Tourism and the Environment: Challenges and Choices for the 90s, November, 62ââ¬â66. West Country Tourist Board (1993) Green Audit Kit. Exeter: WCTB. Wheeller, B. (1990) Is sustainable tourism appropriate? In F. Howie (ed. ) The Proceedings of the Sustainable Tourism Development Conference. Edinburgh, Queen Margaret College, Novem ber. Wheeller, B. (199la) Is progressive tourism appropriate? Tourism and Hospitality Management: Established Disciplines or Ten Year Wonders? Guildford: University of Surrey. Wheeller, B. (199lb) Tourismââ¬â¢s troubled times: Responsible tourism is not the answer.Tourism Management 12 (2), 91ââ¬â6. Wight, P. (1995) Sustainable ecotourism: Balancing economic, environmental and social goals within an ethical framework. Tourism Recreation Research 20 (1), 5ââ¬â13. World Commission on Environment and Development (1987) Our Common Future. Oxford: Oxford University Press. World Tourism Organisation (1989) Seminar on Alternative Tourism: Introductory Report. Madrid: WTO. World Tourism Organisation (1993) Seminar on the evolution of tourist markets for Europe and promotion policies. WTO News 3. World Tourism Organisation (1995a) Yearbook of Tourism Statistics (47th edn).Madrid: WTO. World Tourism Organisation (1995b) WTO News 6. World Travel and Tourism Environment Research Cent re (1992) World Travel and Tourism Environment Review: Travel and Tourism Environment and Development. Brussels: WTTERC. World Travel and Tourism Environment Research Centre (1993) World Travel and Tourism Environment Review 1993: Environment and Development. Brussels: WTTERC. World Travel and Tourism Enviromnent Research Centre (1994) World Travel and Tourism Environment Review 1994: Environment and Development. Brussels: WTTERC. Downloaded by [113. 210. 1. 106] at 07:28 22 March 2013
Tuesday, October 8, 2019
Finance College Essay Example | Topics and Well Written Essays - 1500 words
Finance College - Essay Example Thus, the returns from fixed income securities remain unchanged over the period for which they are invested in. Beyond the period or before the period of investment, the rates would be prone to vary. Changes in the reserve ratio (CRR) stipulated by the Reserve/Federal Bank lead to changes in the rate of interest/ returns for the investor. A shift in the global economy and change in the CRR of the banks in the country which has a dominant role in the global economy can influence the interest rates in other countries too. An investor has a choice of investing in various assets over time. He can invest in movable assets like securities, stocks, fixed deposits and immovable assets like land, buildings etc. Each class of investment has its own risks and returns. The returns from each asset would also vary from time to time, depending on various socio-political, economic and geographical factors. The capital markets offer a wide range of investment options like shares, stocks, debentures, fixed income securities etc. While shares and stocks are high risk-high return instruments, bonds and fixed income securities are safer modes of investment. Capital markets typically tend to move in cycles or phases, called bull and bear phases . A bull market is one in which the majority of the shares move up and there is ample capital appreciation for the investor. A bear phase is one in which there is a negative trend and the prices of shares fall. There is erosion in value of the holding and the investor might not even get back his initial investment amount. The returns in a bull market have been known to be as high as 500-1000% in some cases, while the losses in a bear market have forced several investors to go bankrupt and sell whatever other assets they were holding as investments. Many a times, the economy of the country itself has had to undergo a substantial loss due to the fluctu ations in the capital markets. Fixed income securities are one of the most innovative and dynamic instruments evolved in the financial system ever since the inception of money. Based as they are on the concept of interest and time-value of money, Fixed income securities personify the essence of innovation and transformation, which have fueled the explosive growth of the financial markets over the past few centuries. http://sify.com/finance/fullstory.phpid=14201529, accessed on 27th Aug.,2008. A wise investor would have a combination of investments which give fixed and variable returns over a period of time. The risks involved in investing in stocks are offset by the returns from fixed income securities. Depending on the disposable income, age of the investor and risk-taking capacity of the investor, a financial planner would
Monday, October 7, 2019
How the Draft has changed since the Vietnam War Research Paper
How the Draft has changed since the Vietnam War - Research Paper Example How the Draft has changed since the Vietnam War? Men found to have been insincere by the board for military tribunals tried various offenses with seventeen sentenced to death, three hundred and forty five to penal labor camps, and one hundred and forty two to life imprisonment. In the United States, conscription, or the draft, has been used a number of time, normally in the event of war, as well as when there is nominal peace, such as during the Cold War. The draft was discontinued in 1973 by the US government, which shifted to a military force that was all-volunteer. For this reason, mandatory draft is not in effect at the present time. The Selective Service System (SSS), however, is still in place for contingency purposes. Men aged between eighteen and twenty-five must register for quick resumption of the draft should there be a need for conscription2. However, most military and political experts do not consider conscription likely under the current conditions. The Military Draft While the United States did not initially join the Second World War, the Selective Training and Service Act (STSA) was signed by President Franklin Roosevelt in 1940. This required all American men aged, between twenty-six and thirty-five, to register for drafting into the military3. This acted as the United Statesââ¬â¢ first draft during peacetime, and it was responsible for the establishment of an independent federal agency, the SSS. Because of increasing threats from Japan and parts of Europe, President Roosevelt decided that it was prudent for the United States to train military personnel in case they had to defend the motherland. Germany had already invaded France and Poland, and it was becoming clear that Hitler was involved in persecution of European Jews, and Great Britain was his next target. In response to the distress that Great Britain was in, Roosevelt decided to sell more weapons to repel an attack by the Nazis, as well as to increase the humanitarian effort for the increasingly isolated British. On appending his s ignature to the STSA, he warned the American citizenry that America was caught in the middle of a war for her destiny with the distance and time that separated the US and Europe becoming smaller4. In his opinion, which was shared by a majority of Americans, it was not possible to remain neutral in a world of increased and rampant force. It was now up to the Americans to be prepared in the event that the war in Europe and the Asia-Pacific got to their shores The Americans were receptive of the draft after that impassioned appeal from President Roosevelt. Whatever resistance there may have been to the draft dissipated with the Japanese attack on Pearl Harbor in 19415. This event led to massive enlisting by American men and enlisting continued until 1973, both in peacetime and when the United States was involved in conflict, such as during the Korean War. Men were also drafted in order to fill the vacancies left by retiring or killed service men, which could not be filled using volunta ry conscription. In December of 1969, the United States military reinstated the lottery drawing, unused since 1942, in Washington D.C.ââ¬â¢s Selective Service National Headquarters. This was meant to determine how men born between 1944 and 1950 would be inducted into the army. This lottery was a change from the earlier method where 366 plastic capsules with birth dates, representing the days of the year, were put in a large jar, after which they were drawn manually to assign all men born between the said years with
Sunday, October 6, 2019
How do the governments of the Communist East and the Capitalist West Essay
How do the governments of the Communist East and the Capitalist West perpetuate the Cold War - Essay Example Yet this perpetuation of the Cold War corresponds to the anticipation and autonomy to those subjugated in the East Germany and, on the other hand, the cruel existence of Communism to the Capitalist West. This particular transitional zone situates Alec Leamas, a spy of Britain coming up for the defection of one of his secret agents. The subjected man emerges over the border and seems to be set to make his 'run away' when, all of a sudden, he is chopped down in a bombardment of gunfires. Leamas is called again to London by his supervisor, Control (Cyril Cusack), anticipating him to be fired from his job. And then Control changes his mind to keep more Leamas in a Cold War. Though, Leamas is immediately started searching for a job and finally he got a tedious librarian job. With his only companion, whisky, for company, Leamas simmers in his own beliefs, buttressing the detestation not in favor of the British Secret Service. Nobody seems able to make a way into his shell (developed over the time when he was a secret agent) even though his associate librarian, Nan Perry, takes a predilection to him. Regrettably, Leamas beats up a storekeeper and finishes up in a lockup. Nan should like him nonetheless, and also the Leamas in return, since she congregates him on his liberation from jail. The interesting thing that took place is that, there is one more there to see his come back and he comes up to him in the park. Claiming to be from an aid organization which facilitates ex-convicts, Carlton (Robert Hardy) takes Leamas to a pricey lunch. This is completely gibberish for sure -- as a matter of fact it's an approach from the foe, inspecting a peeved previous secret agent and detecting if he'll defect. Leamas appears to undergo that he doesn't owe Britain anything and, rather grumpily, looks to believe (of course, by means of having the only purpose of wealth). After that Leamas circuitously moves towards Smiley's residence, for a get-together with Control. Everything turns out to be obvious Control sketches the plan, a deceitful and wicked endeavor to harm the reputation of the apex East German secret agent, Hans-Dieter Mundt. With eagerness, Leamas is rushed towards Holland for de-briefing by Fiedler, the second in power to Mundt. The bottom line of the arrangement is that Fiedler loathes Mundt and would wipe out him at all cost. By plummeting slight clues in his discussion with Fiedler, Leamas lets the spy to pencil in his own thoughts without so much delay - the unbelievable ability that Leamas has for spying and espionage, and his great understanding skills, embraces him in good stead as he intertwines a compelling story for Fiedler. Realizing the "certainty", Fiedler sent Leamas back to East Germany, where he looks forward to to overthrow Mundt in a closed trial and assessment. Leamas is an additional snag though since his persistence that Mundt couldn't have been a spy or espionage (he was leader of East German maneuvers and probably would have acknowledged). Fiedler still controls to induce an assessment however, completely influenced that Mundt is being disloyal to his State, and then the closed session starts on. It appears as though the court will rule alongside Mundt, ensuing in his carrying out, in anticipation of his defense representative presents an unforeseen and unanticipated
Saturday, October 5, 2019
Child Labour in Third World Countries Essay Example | Topics and Well Written Essays - 3500 words
Child Labour in Third World Countries - Essay Example In 2002, the U.S. Congress passed legislation ordering the Department of Labour's Bureau of International Labour Affairs to study the relationship between education and military expenditure in countries where child labour is recognized to be particularly common. The word child labour in general refers to any economic activity carried out by someone not above the age of 15. Not all work done by children is harmful or manipulative. Child labour does not normally refer to part-time work after school or rightful internship opportunities for young people. Nor does it refer to adolescent people helping out in the family business or on the family farm. Rather, the "child labour" of concern is general employment that prevents children from getting education, and which is often performed under conditions dangerous to the physical and mental health of the child. The International Labour Organization, or the ILO, defines child labour as "some types of work" done by children under the age of 18. The ILO also says that child labour includes full-time work done by children under 15 years of age that prevents them from going to school (getting an education), or that is dangerous to their health. More complete definitions of what child labour is in regard, age restrictions, job types, and exceptions can be found in convention 138, convention 182, and the convention on the rights of the child. (Child Labour) Other sources and organizations disagree on what child labour is. Some utter that it is merely perilous work or work that obstruct with a child's education, while others are broader and include any work done by children working for compensation. Some organizations, such as UNICEF draw a line between child labour and child work, which can consist of light work done by children above the age of 12. Child Labour in the Fashion Industry There are no reliable statistics on the rate of child employment in any particular economic activity, including the fashion industry. Most information on child labour in the garment industry comes from eyewitness accounts, studies by non -governmental organizations (NGOs) and academicians, reports by journalists, and studies by the International Labour Organization (ILO). Unreliable information obtained during the preparation of this report indicates that in some of the countries examined, fewer children could currently be working on garment exports for the U.S. market than two years ago. A striking example involves Bangladesh, where great numbers of children worked in garment factories as lately as 1994. Worldwide media attention and intimidation of boycotts and cancelled work orders led to the dismissal of thousands of child workers from the garment sector unfortunately without any backup support for them. Thus, it is possible that in the lack of government programs to help the children, the abrupt discharge of child workers can put them in danger, rather than protect them. More research is required so that governments, industry, international organizations, and others apprehensive of the welfare of children are better capable of designing suitable programs. It is obvious, though, those local and national assurances to collective and free education for children are instant and optimistic steps which can and should be taken. One cause for any possible downward
Friday, October 4, 2019
E-Commerce and the Value Proposal Essay Example | Topics and Well Written Essays - 6000 words
E-Commerce and the Value Proposal - Essay Example The platform of e-commerce has emerged as one of the popular modes of performing related operations of retail chain businesses in an electric form. Notably, the activities in e-commerce include performing operations and making transactions with the use of internet. For several businesses, the platform of e-commerce is also used for gathering relevant information about consumer market and competitorsââ¬â¢ actions amid the prime ones. The rationale behind conducting this study was to explore the benefits and identifying the challenges that Sainsburyââ¬â¢s experienced with respect to introduction of e-commerce in its business process. Besides, further supporting the assessment of the identified issues, certain recommendations has been made that will certainly assist the business of Sainsburyââ¬â¢s to improve its operational process. Considering the fact that the platform of e-commerce has emerged as one of the beneficial approaches to reach more customers in highly conventional setting thus, apparently, the prospective to conduct this study was to explore e-commerce trend in the global retail market. Along with this prospect, the significance of conducting the study also laid in exploring the issues that Sainsburyââ¬â¢s faced within aggressive e-commerce trend in the marketplace by other competitive businesses. Rationale after the study resolution to recognised the problems of the corporation that can be positively to sustenance the company in developing its commercial procedure. Appropriately, this study will support the company.
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