Defining Leadership and Management Essay -- Leadership Management

This essay will focus on the meaning of leadership and management, why the ii concepts are often used interchangeably and which 1 is the some relevant in the Tourism Industry. In order to answer these questions, it is necessary define the both terms providing evidences and arguments from different authors about the characteristics, roles, similarities and difference. In conclusion after look at all the different points of view, this essay will evaluate the importance of each(prenominal) term in the context of Airline and Airport Industry. The leadership is complex and can be defined in different ways. The term comes from the combination of cardinal separated words leader and ship, and appeared in the early nineteenth century (Gill, 2006). Antonakis et all (2004) kindle that leadership can be interpreted the influence that one person has on other people behaviour or actions. One comes to think that leader is a person who is in control of a grouping or team in organisation, t he leaders stimulate and motivate the team in order to give a grateful contribution to the organisation for obtain a better results. This is confirmed by Murphy (2004) who said that leader act as a guide, looking at individual behaviour, also they facilitate organisation look after staff, they inspire and stimulate individual contribution on the development and success of the organisation.There are greater interest in know if the leadership is something nature, people born with, or is something that people admit to learn. Support for this Adair (1997) suggests that normally the organisation expected that, a leader need to name certain basics qualities before became a leader, but also is something that people can learn from experience or training. There are certain qualit... ...lso most important managers or leaders need to be concerned on the importance related their communication with staff. A defence of this argument Gill (2006) suggest that leadership and management can be approached in different ways based on different models of managing and leading, but a good managers need to understood, exercise and appreciate the leadership responsibility that is expected of them. Works CitedAdair, J. (1997) Leadership skills. first ed. London Chartered Institute of Personnel and Development (CIPD).Antonakis, J. Cianciolo, T. A and Sternberg, J.R. (2004). 1st ed. London Sage Publication.Gill, R. (2006) Theory & Practice of Leadership. 1st ed. London Sage Publication.Grillo, J. (2010) the difference between leadership and management online available at http//www.leadershippost.com accessed 08/11/2012.

James Joyces Araby - Setting and Theme in Araby :: Joyce Dubliners Araby Essays

How the Setting Reinforces the Theme and Characters in Araby The setting in Araby reinforces the theme and the characters by using imagery of light and darkness. The experiences of the son in crowd Joyces Araby illustrate how people often expect more than than ordinary reality can provide and then feel disillusioned and disappointed. The author uses dark and glum references to make the boys reality of living in the gloomy town of Araby more vivid. He uses dark and gloomy references to create the mood or atmosphere, then changes to silky light references when discussing Mangans sis. The story expresses its theme through the setting, the characterization of the boy and his point of view as the narrator. Darkness is used throughout the story as the dominant theme. James Joyces story begins at dusk and continues through the evening during the winter, in Araby Ireland. He chooses this gloomy setting to be the home of a young boy who is infatuated with his neighbors sis ter. The boy is young and naive and he leads a dull and boring life. Joyce uses darkness to make the boys reality more believable through more vivid, precise descriptions. Bright light is used to create a fairy tale world of dreams and illusions. James Joyce uses the bright light when describing Mangans sister, the boys infatuation. The protagonist is infatuated with his neighbors sister and he imagines that he will heroically bring her something back from the bazaar. Joyce refers to bright light when discussing Mangans sister in order to give her a heavenly presence. put down is used to create a joyful atmosphere. The ending of the story is filled with images of darkness and light. James Joyce uses the lights of the bazaar to illustrate the boys confrontation with reality. The bazaar lights are some all off because the bazaar is almost closed. This is significant because the boy wants the bazaar to be bright and open, but it is dark and closed. This is when the bo y finally realizes that

What is Post-Modernism? Essay -- Philosophy, Modernism

What is Post-Modernism? The aim of this essay is to explain how Post-Modernism has influenced our contemporary built environment and explain what other movements have derived from it.I would contend that Post-Modernism is a worldwide movement in all blinds and disciplines. A definition of postmodernism will provide a better understanding of the trend that would show how it is germane(predicate) to contemporary culture and important for the future. Postmodernism became an important movement right after the Second World War, and the movement spread around Europe and North the States during the early 20th century. According to Malpas, S. (2005, p.12) Postmodernism, focus on style and methods of representation, and is often interpreted as a successor to modernism. Similar to Architecture, postmodernism influenced all kind of art such as Art, music, theatre, literature, dance and even photography.In the work of Best, S. and Kellner, D. Postmodern turn (1997, p.152) they state that pos tmodern architecture was a particular reaction to the esthetics and as they describe Philosophical assumptions of the International Style. This is because one believes that the International style was refusing to incorporate the architectural forms of previous generations as if they were trying to detach themselves from the past.In hostile Best, S. and Kellner, D. (1997, p.153) claim that postmodernism returns to the past to combine and play with different styles, it embraces it for its rich symbolic and stylistic sources. In contrast to modernism, which rejects history. Postmodernist retuned to the past because they believed that we shouldnt forget rough our past, especially with what happen during the Second World War. So architects believe... ... If they try to sort out problems within the form of the building in that respect it a chance that certain(p) parts of the building with have no function, or the other way round. If they try to solve the problem of certain function in the building, then there is a chance that the form or the build might not have a standard form.He continues by stating, we know longer argue the precedence of form or function, we cannot deny their interdependence. Complexity of a program has often accompanied simplicity of form like early Le Corbusier. More recent explanation for the simplicity in architecture, are various expansions of Mies Van der Rohe, contradictory Less is more. In response to Mies van der Rohes famous proclamation, Venturi replied Less is a bore. Above all, Copeland (1983, p.39) claims Venturi pits himself against the modernists obsession with purity.

Violence in Television Essay -- essays research papers fc

When families sit down to decide television system, they expect to watch family subroutine of shows. Family type shows meaning rated PG or PG13, sitcoms and movies that do not include weapons, killing, foul language, and non-socially accepted actions. When children killing, they start to believe that it is accepted. Do children think that killing and hurting differents and themselves crap little meaning to the real life, children can become traumatized. Most killers or violators of the law blame their behavior on the media, and the way that television portrays violators. Longitudinal studies tracking viewing habits and behavior patterns of a single individual found that 8-year-old boys, who viewed the most violent programs growing up, were the most likely to engage in aggressive and derelict behavior by age 18 and serious criminal behavior by age 30 (Eron, 1). Most types of violence that occur today colligate to what people see on television, act out in video games or cyber space games, or hear in music. Media adds to the violence that exists today and in the past few decades. It will continue in the future if it is not recognized as a possible threat to our society. When kids go to a movie, watch television, play video games or even surf the web, they become part of what they see and hear. Soaking violence in their heads long enough becomes a part of the way they think, acts, and live. The line between pretend and reality gets blurred.Children spend more time learning about life through media than in any other manner. The average child spends approximately twenty-eight hours a week watching television, which is twice as much time as they spend in school (Dietz, 75). According to the American Psychological Association, the average American child views 8,000 murders and 100,000 other acts of violence forrader finishing elementary school. In addition the average American child will witness over 200,000 acts of violence on television including 16,000 mu rders before the age of 18 (DuRant, 445). Polls show that three-quarters of the public find television entertainment also violent. When asked to select measures that would reduce violent crime a lot, Americans chose restrictions on television violence more often than gun control. Media shows too much violence that is corrupting the minds children, future leaders of our society. In a study of population data for various countries sh... ... the Internet are all slipway that a child can get ideas and bring them out to the real world causing violence. Bibliography1.Dr. Leonard Eron, University of Illinois at Chicago, Testimony before the Senate Committee on Commerce, recognition and Transportation, Subcommittee on Communications, June 12, 1995.2.Dietz. WH and Gortmacher, SL (1985) Pediatrics, 75,807-812 and Tucker, L.A. (1986) Adolescent, 21, 7970806.3.DuRant RH, Baranowski T, Johnson M,. The relationship among television watching, physical activity, and body composition of young ch ildren. Pediatrics. 199994445-449.4. Robert E. McAfee, M.D., Immediate Past President, American Medical Association, Testimony before House Energy and Commerce Committee Subcommittee on Telecommunications and Finance, June 1994.5. "An Unbiased Voice in the Word War," The Washington Post, November 8, 1995. 6. Anyamwu E, Harding GF, Jeavons PM, "Telephillic Syndrome" In Pattern and PhotoSensitivity Epilepsy Report of troika Cases. East Afr Med J. 199572402-405.7. Fighting Media Violence. www.familyeducation.com8. Interview, Jean Delaney, 54, Arlington Heights, IL.9. Marilyn Manson. www.screenit.com

Heart of Darkness, Apocalypse Now, and Hollow Men Essays -- Movie Film

Faade of Civilization Exposed in Heart of Darkness, Apocalypse forthwith, and Hollow Men Civilization, like republic is something of a loaded term. For democracy there is a straightforward definition a democracy is a society where the members of that society vote for their political leaders. democracy can also refer to a set of social attitudes that individuals can possess. For instance, a snob possesses attitudes that can be described as undemocratic unheeding of his or her participation in the political process of his or her own society. The term civilization literally means a society which has reached a lavishly level of organization and development, which can be characterized by highly specified division of labor, monumental architecture, a redistri besidesive economy, and a highly developed degree of literacy, among different things. The term civilization also refers to a set of attitudes and behavior that Western society has adopted as being consonant with the literal def inition of civilization. A civilized individual is one who is well-educated, moral, virtuous, humanitarian, and possesses a degree of innate nobility. In todays valet de chambre these terms, and therefore the term civilization, are understood throughout the world according to their European definitions, and therefore they are, to a certain degree, ethno-centric. This is because of the predominant role European civilization has played in shaping world civilization. With the exception of Japan, every(prenominal) place on earth has been occupied and administered by a European power for a significant period of time during the last five one C years. Today the worlds understanding of how nations should govern themselves is with constitutions patterned after European models, w... ...ion, and that sense of loss is the horror. For them the Apocalypse, the end of civilization had come, and when Kurtz meets his mortal end, its not with a bang but a whimper. Western Civilization has risen to produce what are arguably some of the highest, most virtuous ideals of mankind. The message that The Hollow Men and Apocalypse Now give is that in Western Civilizations quest for self-aggrandizement, those ideals get lost. What is left is but the empty faade, the hollow men, and in the hearts and minds of the hollow men, the apocalypse descends and civilization ends not with a bang but a whimper. Works CitedConrad, James. Heart of Darkness and Other Tales. Great Britain, BPC paperbacks ltd. 1990.Eliot, Thomas Stearns. The Hollow Men. The Complete Poems and Plays 1909-1950. New York Harcourt, Brace and World, 1971.

Heart of Darkness, Apocalypse Now, and Hollow Men Essays -- Movie Film

Faade of elaboration Exposed in Heart of Darkness, Apocalypse Now, and Hollow Men Civilization, like state is something of a loaded term. For democracy there is a straightforward definition a democracy is a society where the members of that society vote for their political leaders. Democracy give the bounce as well as name to a set of social attitudes that individuals can possess. For instance, a snob possesses attitudes that can be described as undemocratic regardless of his or her participation in the political process of his or her own society. The term civilization literally means a society which has reached a high level of organization and development, which can be characterized by highly specified division of labor, monumental architecture, a redistri stillive economy, and a highly developed degree of literacy, among other things. The term civilization also refers to a set of attitudes and behavior that western society has adopted as being consonant with the literal defin ition of civilization. A civilized individual is unmatchable who is well-educated, moral, virtuous, humanitarian, and possesses a degree of innate nobility. In todays world these terms, and consequently the term civilization, are understood throughout the world according to their European definitions, and therefore they are, to a certain degree, ethno-centric. This is because of the predominant role European civilization has played in shaping world civilization. With the exception of Japan, every place on soil has been occupied and administered by a European power for a significant period of time during the last five hundred years. Today the worlds understanding of how nations should regularise themselves is with constitutions patterned after European models, w... ...ion, and that sense of loss is the horror. For them the Apocalypse, the end of civilization had come, and when Kurtz meets his mortal end, its not with a bang but a whimper. Western Civilization has risen to produ ce what are arguably some of the highest, most virtuous ideals of mankind. The message that The Hollow Men and Apocalypse Now give is that in Western Civilizations quest for self-aggrandizement, those ideals get lost. What is left is but the empty faade, the hollow men, and in the hearts and minds of the hollow men, the apocalypse descends and civilization ends not with a bang but a whimper. Works CitedConrad, James. Heart of Darkness and Other Tales. Great Britain, BPC paperbacks ltd. 1990.Eliot, Thomas Stearns. The Hollow Men. The Complete Poems and Plays 1909-1950. New York Harcourt, Brace and World, 1971.

Preparation and Properties of soap

Materials and Apparatus Olive oil, 95% ethanol, beaker, 50% sodium hydroxide solution, Boucher alter, hot plate, salt solution, magnetic stirrer, filter funnel, glass rod, filter paper, measure balance, watch glass and measuring cylinder. From the diagram above, we can clearly see that the ionic (highly polar and charges) natures of salts makes them soluble in water. However, the non- polar hydrocarbon (aliphatic) tail of the soap molecules would pillowcase them to be miscible with non-polar substances and enable them to dissolve in water.Normally, solid soaps be live of sodium salts of plunkty acids and liquid soaps consist of potassium salts of fatty acids. flog can be disposed(p) by a process known as stipulation. Historically, soaps were made by boiling the fat of animal, lye and in a sedimentary Noah and KOCH solution containing potash. Of course, this was done bulky time ago before anyone had any idea of understanding the chemical transformations. Now, we know that this process is a reaction of esters with a strong base such as KOCH or Noah.The esters, triglycerides are the main constituents of vegetable oil and animal fats. The triglyceride is a trim-ester come along with 3 long fatty acid hydrocarbon chain. When triglyceride reacts with 3 equivalents strong aqueous base solution such as Noah or KOCH, the three ester bonds are hydroxide to yield 3 fatty acid salts (soap molecules) and one glycerol. The specification can also be called base hydrolysis. Industrially, soap is made by reaction of Noah together with vegetable fat. It is polar to utilize enough Noah to make sure a complete specification Of triglycerides.If there is insufficient base, time and heat provided, then the result would be broken specification and the soap product can be very brittle. If the specification is complete, Nasal is added to precipitate the soap. The aqueous portion is decanted off. The remaining substance would be thoroughgoing(a) soap which contains some impurit ies such as Nasal, Noah or glycerol. In the lab, we do not have enough time to purify the crude soap. This purification would consist of re-dissolving the soap in boiling water and then cooling and precipitating again by adding Nasal.The soap in the experiment would be made forth from olive oil, the chemical structure of olive oil (C52H9606) would be like this Procedure 1 . About ml Olive Oil was added to a mall_ beaker and change state it in ml of 95% ethanol. Excessive oil was not used to avoid additional ethanol to dissolve it. 2. When the olive oil was in all dissolved, the beaker was cast off on the hot plate and the temperature was maintained to about ICC. The flask was swirled to mix the solution. Next, ml of 50% Noah solution was poured down the glass-stirring rod intro the oil solution.A weensy amount of the Noah solution was trickled down the rod very slowly and then stopped to stir. Then, a precise more Noah was trickled in. The Noah solution was not poured into th e oil overly quickly. This was due to the reason that pouring the Noah solution too quickly Will cause the oil to separate from the Noah solution, and the final product would be failure. The mixture was excited until it thickened. We wanted to avoid getting a mixture with 2 distinct layers Noah solution on the bottom and oil on the top.When 2 distinct layers are forming, it was stirred vigorously using magnetic stirrer until the liquids are well stirred. 3. A small watch glass was placed over the mouth of the flask to minimize evaporation of the alcohol. 4. The oil-alcoholic-Noah solution was allowed to boil for at least 30 minutes. The undisclosed fat in the flask and solved by adding a little more ethanol and stirred. The temperature was kept just hot enough to have controlled boiling of the fat solution. 5. While the specification proceeded, a salt solution was prepared by completely dissolving go Nasal in 1 00 ml distilled water in a mall beaker.After he salt was completely di ssolved, about half of this salt solution was transferred to another beaker and both beakers of salt solution was placed on ice to cool them. 6. After 30 minutes, the fat solution was tested to see if specification was completed by placing a few drops of the solution in a test tube of distilled eater. When the fat droplets floated to the top, the specification was not completed and allowed it to boil for an additional 10 minutes. 7. When the specification was completed, the hot reaction mixture was poured carefully into one beaker of salt solution and stirred for a minute or two.

History of Marriage Essay

Marriage is a well-disposed institution recognized by custom and rectitude. It is a relation that exists between one or more men to one or more women. Custom or justness gives recognitions of the duties and rights of the parties mixed in such an institution. The union may result to children being born in it. In general, the societal expectation is one where in that location is familiar pleasure between a maintain and married woman. There are legal issues that may arise as a result of adultery, which may force one spouse to dissolve the coupling.This relation is at some point regarded as an economic institution in which a hus drive outd is fully responsible for the needs of the wife and children. With the current women empowerment in the society they are also able to provide for their families. A father has a general control and power oer his family but for the children his powers are for a limited time. This generates as a result of the need for children to practice deci sion making and show responsibility specially at adulthood. Marriage is in accordance to the laid down custom or law and the coincide of individually parties involved must be considered.Parents for example may ask for a bride price and after this is settled a marriage takes place. These are important steps especially where the conditions stipulated by custom or by law are complied with. The origin of marriage is seen to be a habitual practice from the medieval period. A man and woman would live together, have inner relations and from this union children would come forth. The father would play their role as a protector and supporter of his family while his wife nurses and cares for the family.As time passed it was authoritative by custom and by law and it became legal social institution. Marriage is therefore seen to be an intimate relationship which the society, the government and religion recognizes. Marriage has more forms but the major one constitutes a man and a woman. Mar riage is the basis of a family unit in which procreation takes place. Through a marriage setup children can grown, be protected and shown love through provision of food, shelter, clothing, education among others. There are a variety of intentions that one has in idea while planning to enter into marriage.Some of the major reasons may include need for legal stability, social and/or economic stability. Through marriage, there is a provider, protector and the union is legally bound. Marriage can be witnessed in a wedding celebration and this marks the beginning of individual obligation to each other and to the society at large. There have been changes in the understanding and approach of marriage from the older days. In the United States marriage for example was a consideration of status as well as an oversight on the future economic stability and prosperity of the person.It was therefore an economic arrangement in which one would choose their potential spouse and so they would plan t o wed . Marriage ceremonies between same sexes were done in the 5th-14th centuries by the Roman Catholic Church. Many issues nearly marriage caught the interest of many leaders and Pope Alexander II in 1975, prohibited marriages between couples who were closely related and especially with no more than 6 cousins related to a person. In the 16th century, only with the permission of local political authorities, servants and day laborers would be free to marry in Bavaria and Austria.In1921 this order was fully abolished. Public wife selling was witnessed in the 1960s-1870s where a come apartd wife was tied with a rope around her manage and sold in public. Until 1686, marriage was quite a a civilian ceremony for the puritans in Massachusetts Bay. In the British colonies, there was no penalty given up for interracial marriages until 1662 when Virginia doubled fornication fines for interracial couples. Maryland banned interracial marriages in 1664 and subsequently, in 1750 interraci al marriages had been outlawed in all southern colonies. hook up with women, until mid 19th century, had no legal standing under the English common law in all American states. It was until 1848 that women had the right to own dimension while married, through the Married Women Act. http//www. lulu. com/content/247174 At the age of 10 years, consent for sexual intercourse was go forthed in most American states while in Delaware it was at the age of 7 years only. With parental consent young boys of 14 and girls of 12 would marry, as late as 1930. In 1940, married women could non make legal contract in twelve states.Anti-Miscegenation laws were declared unconstitutional in Virginia and other states such as Alabama, Florida, Mississippi, Oklahoma, and Texas among others. Fourteen states had in the fifteen years prior to the decision, repealed their anti miscegenation laws. This included Arizona, Colorado, Maryland, Nevada, and Oregon among others. Ten states had by 1990, outlawed rap e in marriage. This was after New York outlawed rape in marriage in 1978. Rape in marriage was seen as a crime in thirty-six states and this was only in certain circumstances. It was surprising that in four states, rape in marriage was never a crime.Marriage has had lots of controversies but the initial union in the religious world was the social union that benefited the society. It is seen as the union of one man and one woman blessed and united by a religious leader as seen in Christianity, Judaism, Islam, Buddhists and Hindu. The privileges enjoyed in marriages are of benefit while particular concerns were raised on homosexual couples. The commitment of traditional couples which constituted a man and woman could be seen as that of same-sex couples and so they have continued to fight for their rights and the legalization of their marriage.The sacred value of marriage should not be changed despite the fact that advocates are warring on the issue that it should be redefined to suit jocund marriage. When the Massachusetts peremptory Judicial Court made a ruling in 2004, and said that civil union was not enough, this raised national debate. A number of people wanted the definition of one man-to- one woman to stand and others wanted it to ramify same-sex institutions, with others against it. In 2004, California and New York mayors were authorizing same sex marriages while defying law and these marriages were said not to be legally binding. Nancy 2001) http//www. lulu. com/content/247174In 1619, Virginia enacted a law in which if a bond married a Negro, Mulatto or Indian, they would be banished in the woods so that they are cast out of the colony. Later on, in 1724, there was introduction Louisiana after the break ones backs were freed. Laws that were known as black codes were used to control and even forbid marriages constituted by slaves while the slave master was not consented. In 1769, the English common law showed that husband and wife were one. A consti tution was written in 1787 and was adopted the avocation year.It was potent in 1789 and replaced the articles of federation, which was the government document of the USA. It remains to be the basic law of central government. In 1839, Mississippi granted the women a right to hold, with their respective husbands permission, property in their own name. This saw many states legalizing this grant to women so that they would have control over property and earnings. This was in 1900. In the minute vs. Celia case of 1855, the case was used to show that enslaved women had no right or legal recourse if they were raped by their masters.This meant that black women had no right to celebrate themselves after an act of rape by the master. When the Mississippi black code was passed, it was an attempt to control slaves and ensure social inequality. This prohibited blacks, in 1865, from marrying whites and in this case, it was guilty as was seen through life imprisonment. http//www. lulu. com/co ntent/247174 More was to come and in the United States, an immigration act of 1917 banned immigration of Asians and those with abnormal sexual instincts and until 1990, lesbians and gay immigrants were excluded from coming into the United States. (Nancy 2001)In a case of New York v. Sanger, doctors would advice married couples on use of birth control pills for health purposes. The law was still implement but was overturned in 1965 on all state laws that prohibited the use of contraceptives. In 1948, in Perez v Sharp case, there was a ban on interracial marriage in the California Supreme Court. This was the first state high court to declare it unconstitutional but later on in 1967 the U. S Supreme Court declared that there was freedom to marry allowing for interracial marriages on all Americans. This was evidenced in the case of loving v. Virginia.The immigration act in 1965 admitted different races and nationalities and emphasized on family reunification with great concern. The ac t defined a family to be strictly on hetero sexual and nuclear ties and banned on lesbian and gay deviates. In 1969, California adopted a divorce law that allowed divorce by mutual consent and especially where one party simply wants it. The major challenge in this was that one party can refuse to sign the separation agreement. In 1981, there was an over turn of events when the states laws described a husband as a head and master and having control of property which is jointly owned with his wife. Nancy 2001) . http//family. jrank. org/pages/1118/Marriage-Ceremonies. htmlArticles were print and they advocated for legalization of same-sex couples and this was especially because these authors were gay and wanted to pursue their demand. In 1990, the congress repealed ban on gay and lesbian immigration. Homosexuals were disqualified as foreigners and were not allowed to come in to the United States. It was in 1993 that Hawaii Supreme Court said that the ban on same-sex couples from marr ying must be justified and in 1998, it was amended to allow strict marriage to men and women only .In 1994, gays and lesbians sought to be part of the humanitarian law as a social group rather than an immigration group. A Person Responsibility and Work Opportunity Reconciliation Act explicitly promoted marriage and formation of heterosexual families. The federal law back up two parent families and in the same year, 1996, the Defense of Marriage Act defined marriage as exclusively between one man and a woman. It was evident that this act did not recognize same sex marriage at all. In 1998, there was a covenant marriage legislation in which couples promised to stay together for life and that they would denounce the no-default divorce.In the same year, May 1998, Alaska ruled that it was a fundamental right to choose a marital partner. The following year, the Vermont Supreme Court allowed for same-sex marriage to occur and that they have all rights and benefits of marriage but no marri age licenses. A governor in Oklahoma in March 2000 announced a $10 million plan that encouraged marriage than divorce and in 2001 gay and lesbian couples in Massachusetts filed law suits seeking a right to marry. This followed with other New Jersey lesbian and gay couples suing the state court for denial of their right to marry.In 2003, the US Supreme Court struck down the remaining anti-gay sodomy laws which were in Texas and in other states. http//family. jrank. org/pages/1118/Marriage-Ceremonies. html In 2003-2004, the Federal Marriage Amendment was proposed but was defeated in congress. The amendment ought to have denied marriage rights to same-sex couples by indicating that marriage would only exist between a man and a woman.The divorce rate in 1980 was 22. 6% per chiliad married women and currently it is rated at 17. 7 percent.Other observations and statistics show that the rate of marriage has declined from 76. 5 to 39. 9 percent per 1000 unmarried women. This has been a 50 percent drop and it is attributed to cohabitation rather than marriage. These posses a great risk on the children as it affects the family stability. Breakup rates for cohabitating couples are twice as that of married couples and in 40% of such couples children are born in this rather unstable and shaky relationship. The United States is found to have the weakest families in the western world.This is attributed to the high divorce rates as well as the increase in solo parenting. The divorce rate has generally been going up more recently with about 20 divorces for every 1000 women over the age of 15. (Nancy 2001) The divorces rate has had significant factors that have led to the rise in the United States. One of them has been that men and women are economically stable and so there is less need for each other in terms of economical survival. The rate has also been on the higher(prenominal) side because of birth control programs that allow men and women to separate sexual activity from bearing children.

Intuitionism

UNIVERSITY OF NIGERIA, NSUKKA. DEPARTMENT OF SOCIAL SCIENCES AN ASSIGNMENT ON THE THEORY OF INTUITIONISM A SEMINAR founding IN PARTIAL FULFILMENT OF THE REQUIREMENTS OF PHIL. 523 (MODERN ETHICAL SYSTEM) BY ABAH, GEORGE . O. (REV. FR. ) PG/MA/12/63875 LECTURER DR. ENEH FEBRUARY, 2013 INTUITIONISM INTRODUCTION All the respectable theories imply some norm or standard of incorruptity. They non only proclaim the fact that incorruptity exists just now also that there is some way of distinguishing the good from the evil, the pay from the prostitute. Ethical theories do not disagree greatly in the actual codes of righteousity they adopt.The list of approved and disapproved acts, despite some glaring exceptions, is in general much the akin. Where they differ most is in their reasons for the approval or disapproval, in the principles on which they base their judgments about morality, that is to say, in the norm or standard by which they pretend morality. scholarshipism, which is our business organization in this discussion, is one of these ethical theories. The hypothesis, which is in agreement about the facts with separate theories, parts ways from them about the reasons and or the routes to getting and judging the facts.Proponents of this theory cerebrate that we hand over a feel, a sentience, an instinct, whatever one wants to c in all it, that immediately manifests to us what is good and what is evil in the moral sphere, and that this is basically the like in all of us. Our discussion below will unravel more on the teachings, history, and the criticisms for and against the theory. We shall as well attempt a summary and an evaluation of the concept forward drawing our conclusions. THE CONCEPT OF INTUITIONISM Intuitionism is an ethical theory that teaches that moral knowledge is transmit, immediate or visceral.Making it clearer, Eneh (2001) states that Intuitionism in ethics is the view that some moral judgments such as goodness, rightness, are kn ow to be by immediate or uninferred knowledge. Hence, moral actions of a sort could be known to either be right or wrong by an uninterrupted wisdom of either their rightness or wrongness, the value of their consequences regardless. It is therefore the doctrine that there are moral truths discoverable by intuition the doctrine that there is no single principle by which to resolve conflicts between intuited moral rules the theory that ethical principles are known to be valid finished intuition.Intuitionism is the meta-ethical doctrine claiming that moral principles, rules or judgments are clear and obvious truths that do not motivation to be supported by argumentation. Apart from this claim, intuitionism postulates a special faculty for the perception of right and wrong. The special faculty is distinct from the in narrateect. It is possible, the theory posits, to hold some direct, immediate, intuitive knowledge of morality without attributing such knowledge to some(prenominal) spe cial faculty. The theory therefore reasons that both well-meaning person seems to have an immediate sense of what is right and what is wrong.Many who have had merely any opportunity for moral instruction do nevertheless have a basic moral awareness. The great value of moral instruction is to confirm doubtful details, to supply one with cogent reasons, and to bring consistency into ones moral convictions, but all this is not necessary for the formation of those convictions. Furthermore, the theory opines that people had moral ideas and convictions long before philosophers developed a formal study of ethics. The pre-philosophical knowledge of right and wrong was not reasoned out and logically criticized.It was therefore a spontaneous knowledge occurring to the mind without consciously directed reasoning, and hence it must come from some intuitive or insightful action mechanism of the mind in recognizing the right and the wrong and discriminating between them. In the same light, o ur reasoning on moral matters, when we do use it, is subsequent and substantiative to an initial direct perception of rightness or wrongness. We first see that the cause of action is right or wrong, as the case may be, and consequently appearance for reasons.If our reasoning leads to an answer contradictory to our spontaneous moral judgment, we tend to let the reasoning go and stick to our simple moral intuition, which we consider a surer guide than our elaborate arguments, whose very elaborateness can arouse a suspicion of rationalization. To cap it all, the theory of intuitionism teaches that our reasoning can go wrong on moral matters as easily as on other matters. Though invincible ignorance excuses, we cannot allow it to govern so large a share of our lives that our moral responsibility is on the verge of vanishing.We must have some way of deciding basic moral issues. That we cannot do so by reasoning, studying, and philosophizing is unmingled from the many contradictory sc hools of ethical thought. Therefore, we have to rely on some sweet of moral instinct, insight or intuition, which can act as a sure guide. HISTORY OF THE THEORY OF INTUITIONISM Ethical Intuitionism was popular in the early twentieth century, particularly among British analytic philosophers. H. A. Prichard gave an early defense of the view in his Does Moral Philosophy Rest on a Mistake? (1912), wherein he contended that moral philosophy rested chiefly on the desire to provide arguments starting time from non-normative premise for the principles of obligation that we pre-philosophically accept, such as the principle that one ought to keep ones promises or that one ought not to steal. This is a mistake, Prichard argued, both because it is impossible to derive any statement about what one ought to do from statements not concerning obligation (even statements about what is good), and because there is no need to do so since common sense principles of moral bligation are self-evident. Pr ichard was influenced by G. E. Moore, whose Principia Ethica (1903) argued famously that goodness was an indefinable, non- infixed property of which we had intuitive awareness. Moore originated the term the naturalistic elapseacy to refer to the (alleged) error of confusing goodness with some natural property, and he deployed the Open Question Argument to show why this was an error. Unlike Prichard, Moore thought that one could derive principles of obligation from propositions about what is good.Ethical intuitionism suffered a dramatic fall from favor by the middle of the century, probably due in part to the influence of logical positivism, in part to the rising popularity of naturalism in philosophy, and in part to philosophical objections based on the phenomenon of widespread moral disagreement. Some recent work suggests the view may be enjoying a resurgence of matter to in academic philosophy. Robert Audi is one of the main supporters of ethical intuitionism in our days. His 20 05 book, The Good in the Right, claims to update and strengthen Rossian intuitionism and to develop the epistemology of ethics.Michael Huemers book Ethical Intuitionism (2005) also provides a recent defense of the view. Furthermore, authors writing on normative ethics often accept methodological intuitionism as they present allegedly obvious or intuitive examples or thought experiments as support for their theories. In all, Intuitionism as an ethical theory and a concept was introduced by George Edward Moore (1873-1958). It was he who projected the above ideas on intuitionism, and believed strongly that moral judgments were non-empirical they are just brute facts.G. E. Moore was an intuitionist as we can see by his claim that we have the non-natural ability to observe moral properties. Moore believed that moral knowledge about particular values is much like sense knowledge, but this is not necessary to intuitionism. He claims that principles, rules, or judgments pull to our sense of reasonableness, and that we cannot imagine them to be false. Why because we cant understand what it would be like for the statement to be false. Hence general principles are intuitive.CRITICISMS FOR INTUITIONISM The main emolument of intuitionism is that it is a simple philosophy positing simply for instance that God is indefinable. Moore said that good was like yellow, in that it cannot be broken down any further yellow cannot be described in any other way than to say it is yellow. A horse, on the other hand, could be described as brown, large an animal and so on. The strength of intuitionism is that it appeals to the fact that some moral beliefs stand so firmly that they take on the look of data.That it is wrong to murder or to abuse a child seems truer than any widely accepted theory. The intuitionist labels such judgments as intuitions. And they certainly appear to be immediate judgments. We do not need to give reasons about them. Judgments about murder and abuse are suppo rted by basic moral principles and values. They have intuitive appeal, albeit, such judgments may arise because of socialized sympathy with others, or from basic moral education. CRITICISMS AGAINST INTUITIONISM Intuitionism, many observed, has a lot of difficulties and contradictions it show cases.In the first place, Intuition is Latin for Insight, a looking in, and therefore a very appropriate word for the direct activity of the intellect in devouring(a) self-evident truths. But it has become associated with hunches, wild guesses, irrational inspirations, clairvoyance, and other fancies so lacking in scientific respectability as to give utterly the wrong impression. It should be clear that guesses and hunches are of no more value in the ethical sphere than in any other sphere. Also, we have no in-born pile of moral rules with which we must compare our acts to see whether they are moral or not.There is no evidence for the existence of any innate ideas in the human mind, including ethical ideas. All our knowledge comes from experience, and our moral ideas are likewise derived from experience. We do not have any faculty, not even conscience that automatically flashes a warning signal as soon as we think of doing something wrong. If conscience seems to act in this way, it is nothing but habit, by which we have become accustomed through training to avoid actions of a certain kind and to judge them to be wrong.Such habitual action is quite different from instinctive action, and such judges need not be intuitive. Furthermore, an appeal to intuition has the disadvantage of being immune to objective criticism. One claims to see it, and no one proves that he or she does not another claims not to see it, and no one can prove that he or she does. The two claims are not contradictory, for each reports only his or her own experience. Such intuitive knowledge, if it exists, can be of benefit only to the possessor and cannot be used to convince anyone else.Unless most peo ple testify to having the same intuitive (as does happen, for example, regarding sense experience), this sort of private knowledge lacks the universal character of scientific knowledge. Since there is no common agreement on moral intuitions, an appeal to intuitionism, each following a personal moral code privately discovered by personal insights. Moreover, those who find that they do not experience moral intuitions are either left without any ethics which obliged to live ethically, or are obliged to develop an ethical theory on other grounds.They have to judge both their ethical theory and the intuitionist theory on some basis other than intuition, which by hypothesis they themselves do not posses. The intuitionists, however, must either appeal to intuition to establish the truth of their own theory, thus convincing only themselves, or they must abandon intuition and haunt to rational argument when it comes to establishing their theory. Either way shows the weakness of the method. EVALUATION Despite these and similar criticisms of an intuitionist ethics, we can still ask whether it is possible to remove all intuition from ethics.Certainly, we shall remove intuition in the sense of hunches and guesses, in the sense of a special faculty for the perception of morals, and in the sense of a direct dread of moral rules immediately applicable to particular actions. These illegitimate uses of intuition have tended to ruin the whole concept. However, there remains a legitimate use. non all knowledge can be derived from previous knowledge. There must be some original knowledge, some primitive experience, and some immediate apprehension from which derived knowledge can originate. Thus, not all knowledge can be the sequel of a reasoning process.Premises are proved by previous premises and these by others still more previous, but the process cannot go on forever or nothing will ever be proved. Somewhere, one must come to a direct experience (and this is intuition in th e original meaning of the term) or to some principle that cannot be proved and needs no proof because it is self-evident. In ethics, there are two particular areas in which we must appeal to such direct and underived knowledge one is the kind of knowledge of morals people had before developing a scientific ethics, and the other is the first or basic moral principle on which scientific ethics rests.In other words, the development of ethics in history must have been preceded by an era in which people had ethical ideas that were not the result of reasoned proof, and even after they developed a scientific ethics, they still had to trace it back logically to some immediately known and underived principles for instance, inbred knowledge and first moral principles. Finally, if we are to hold on to the teachings of intuitionism, moral norms could be swept under the carpet since no standard rule stands to judge actions but subjective self-evident truths.We know of course by simple logic that A or not A can be true, but both cannot be true at the same time. Intuitionists hold that it is possible to prove A and not A as long as psychical constructions can be built which prove each consistently. In this sense, proof in intuitionist reasoning is not concerned with proving whether or not A exists, but is instead defined by whether both A and not A can be coherently and consistently constructed as valid statements in the mind. This is against the law of the excluded middle which states that either A or not A can be true, but both cannot be true at the same time.If a person at one end operates on an intuition that stealing is good, and the other person at the other end stands on an intuition that stealing is bad. Intuitionists judge both actions as true at the same time since their positions result from their self-evident truths. Such a proposition disposes a confederacy to destruction. SUMMARY AND CONCLUSION Intuitionism in general holds that humans have direct, immediate, or intuitive knowledge of morality, with or without a special faculty. Reasons for intuitionism is that people can tell right from wrong studying ethics, se reasoning to confirm their spontaneous judgments, and reject arguments that contradict their basic moral convictions. Reasons against intuitionism spring from the fact that the word is in like manner vague to be of much use. We have no innate moral ideas or principles intuition would be a purely subjective experience and scientifically useless, and the intuitionist can convince no one but himself or herself. Nevertheless, there is a legitimate use for intuition in the sense of an cerebral acceptance of self-evident truths. REFERENCES Aristotle Posterior Analytics, bk. 11, ch. 19 Metaphysics, bk. IV, ch. 4.Butler Fifteen Sermons upon Human Nature, Sermons 11 and 111. Eneh, J. O. , War & Peace Aspects of Practical Ethics, (Pub. By AFRANEDOH (Nig. ) LTD, Calabar) 2001. Hutcheson Inquiry into the original of our ideas of Beauty a nd virtue, Treatise 11, sec. 1 http//en. wikipedia. org. wiki/intuitionsim http//www. philosophybasics. com/branchintuitionism. htmlhistory Jill Graper Hernandez (ed. ). The New Intuitionism, Continuum 2011. Milton A. Gonsalves (ed. ) Fagotheys Right and Reason, Ethics in Theory and Practice, (Charles E. Merrill Publishing Company, 1985). St. Thomas Summa Theologica, 1-11, q. 94, a. 2.

The Clouds and the History of Peloponnesian War

Breaking down traditions The Clouds and the History of Peloponnesian war Undeniably, the ancient Greek auberge places a heavy emphasis on set and traditions. The two texts of the Clouds by Aristophanes and History of the Peloponnesian war by Thucydides, although contextually divergent, atomic number 18 actually conceptually convergent. Both texts are built roughly the telephone exchange theme of the collapse of conventional values. While the dislocation of handed-down values in the History of the Peloponnesian war is presented in a more figurative and symbolical manner, the downfall of conventional values in the Clouds is on a more direct basis.Although some(prenominal) texts essentially convey across the same solemn message that the relinquishment of traditional values leads to dire consequences, Aristophanes also implicitly challenges the authority of old values, and hopes to improve upon these traditions. The Clouds by Aristophanes is a satirical play originally intere sted with the sentiment of new and old education. A satire is a composition or prose applyd to lampoon individuals or lodge. They usually make use of ridicules and irony for the ostensible pur lodge of exposing and discouraging vice or folly.In the Clouds, viewers are presented with a breakdown of traditionally accepted moral and ethical values, specially those that are related to education. Aristophanes is a staunch defender of old values. Through the prank, he wishes to render his support for logical reasoning that is well rounded and grounded in practical experience. Simultaneously, Aristophanes also wants to deliver a message to the theater audiences of fifth century that certain philosophers, particularly the sophists, undermine traditional values and thus pose as a threat to Greek society.However, by deliberately satirizing the traditional model of education with the new model throughout the comedy, Aristophanes subtly suggests his belief that if a traditional system wer e to be left unexamined, it might lose sight of the convictions and values upon which it was founded. This also shows that Aristophanes believes the importance of criticism in the Athenian society, and that with criticism, a society can be improved upon. In comparison to The History of the Peloponnesian War, there are distinctions mingled with the ways in which traditional values are broken down.In the latter, the Mytilenian debate and the Melian dialogues are based on the war between Athens and its empire against the Peloponnesian League led by Sparta. It is more concerned with the ethics of war and penalisations rather than education in The Clouds. Warring sparks are ignited in the light of self-interest, as the Spartans fear the growth of the Athenian power. galore(postnominal) moral judgments, as dire consequences of the wars, are debated upon. There are increasing political and ethical confusions in Athens as a result of the lawlessness of the Mytilenians and the neutral po sition take up by the Melians.In the 2nd Mytilenian debate, the Athenians argue over the unprecedented brutality of their actions and some become hesitant about the travel rapidly decision to kill and enslave the citizens of Mytileans. Democracy is an important concept for the Greeks. In Cleons speech, however, he begins by questioning the worth of democracy and this instigates a breakdown in the traditional values. Personally I have had occasions often enough already to observe that a democracy is incapable of governing others, and I am all the more convinced of this when I see how you are outright changing your minds about the Mytilenians. (Thuy 3. 37) Cleon believes that it is part of human nature to revere the blotto and take advantage of the weak, and then he pushes for the punishment of the Mytilenians. In his speech, Cleon also employs the art of rhetoric. He stresses that the Mytilenian are more than guilty and consequently deserve the punishment since they are calculated aggressors (Thuy 36. 13). Hence, Cleon suggests that the Mytilenians are not worthy of the Athenians sympathy votes. Such a way of instruction is a sure flame case of guilt or innocence.Making use of rhetoric devices and compromising the ideals of democracy breach the ideals of traditions in the Greek society. Unlike that in the Clouds, Thucydides does not show either sign of flaws of the traditional values. Although based on different circumstances, the breakdown of traditional values in The History of the Peloponnesian war parallels to that in the Clouds. The Clouds also utilizes all-encompassing use of rhetoric devices. Strepsiades decides to submit to the sophists way of education, so that he would be able to defend himself against his creditors.The first sign of erosion of traditional value is exposed when Strepsiades decides to enroll himself in the Thinkery under the guidance of Socrates. The ability to manipulate language and turn every amour into relativism erodes the principles of traditional Athenian beliefs. Indisputably, the new philosophy wins. worldliness is the type of linguistic device that, in the face of the weakness of traditional beliefs, undermines the value of anything. Strepsiades opines, Holy Earth, what a voice How divine, how awesome, how fantastic (363) In which Socrates responds, Yes, you know, these are the tho real divinities, all the rest is bunkum. (365) In the new system of beliefs as advocated by the sophists, there is a rejection of the traditional religion and a belief in the new gods. The comical way through which ideas are portrayed may be witty, but the meat issue lies at the heart of the plays moral pettishness at what is happening in Athens. There are possibilities for that life is being systematically corrupted by the seductive power of words, of language itself. Language is now a tool of human beings, modified to accommodate human beings desires, rather than directing those desires.The underlying basis here in the Clouds is a direct remainder to the ideas as presented in the Mytilenian debate, that traditionally held values are now being gradually eroded in the light of self interest. As we progress on to the rest of the texts, the tension in breaking traditional Greek values further intensifies. This is evident in the History of the Peloponnesian War as we stir to the Melian dialogue. The true colors of human nature are exposed under desperate conditions. The Athenians have now completed the transition from democracy and are in full embracing the epitomes of imperialism.The Athenians, in a frank and matter-of-fact manner, offer the Melians an ultimatum to surrender and pay tribute to Athens, or be destroyed. The Melian dialogue also opens up devotion issues based on close of the Melos. Traditional democratic ideas are fragmented as imperialistic ideas are introduced. Our opinion of the gods and our knowledge of men lead us to conclude that it is a general and necessary law of nat ure to rule whatever one can. (Thuy 5. 105). Abuses of traditional values are reflected throughout the dialogue as both parties act in the light of their own self-interests.The Athenians make extensive use of rhetorical speeches in an attempt to exert their points and subjugate the Melians. I citation the Athenians, You, by giving in, would save yourselves from disaster we, by not destroying you, would be able to profit from you (Thuy 5. 93). The use of rhetoric embodies the concept of ethical and moral relativism. It follows the core belief of the sophists that nothing is absolute and men are the measure of everything. The breakdown of traditional values is also intensified and heightened in the Clouds, as presented in the torrid debate between the Right and the Wrong Arguments.The debate is a direct, head on clash of traditional values versus the new ideas. Rights arguments are centered around traditional values such as respect, justice and diligence. On the opposing end, wrong proposes the idea of moral and ethical relativism. This also symbolizes a debate between nomos and physis. Justice is now no longer an inborn characteristic of humanity (physis), but rather a convention invented by the weaker party as a defense against the stronger (nomos) counterpart. Right and wrong are now merely matters of convention. Right Simply by presenting the case for justiceWrong Itll crumble as concisely as I open my mouth. My position is that there isnt any such thing as justice Right No such thing? Wrong Well, if there is, where is it to be found? (901) In the debate, even the Right argument, who is supposed to follow the ideals of tradition, makes use of rhetoric devices. The fundamentals of the traditional Greek society are disintegrated. Also, Pheidippides final decision to choose the Wrong argument also represents the younger Athenian generations inclination to modernity and discard of tradition.Although both Aristophanes and Thucydides suggest the idea of the breakdown of traditional values, Aristophanes takes it to a higher level in the Clouds. He acknowledges the faults with traditional values while simultaneously criticizing the use of sophistry. He depicts the Right argument and an embarrassment that utters vacuous statements such as Be ashamed when you ought to be ashamed, (1013). This shows that Aristophanes feels that satire and criticism are no less important than traditions, as they surrender the society to morph and flourish.This is different from the History of the Peloponnesian War as Thucydides simply portrays the breakdown of traditional values in a negative light. Nonetheless, both texts end on a similar note. The two writers present to the viewers/readers the dire consequences as results of breaching traditional values. In the context of the History of the Peloponnesian War, the Melians are destroyed. Also, the very next line is history begins with the decline of the Athens and the justifications of the Melos. About the same time the Argives invaded Phliasia and were ambushed by the Phliasians and the exiles from Argos, losing about eighty men. (Thuy 5. 115) Thucydides presumably wants to show the calamitous consequences of the actions of the Athenians, as a result of going against the traditions. The Athenians are also completely defeated with the Syracusan victory. On the other hand, in the Clouds, we are presented with the protagonists (Strepsiades) frustration that leads to destruction at the end of the play. Both texts do not move us beyond their final, unsettling acts.In the case of Clouds, such a paradoxical ending to a comedy can be interpreted as an ominous warning. Divergence away from the traditional values may seem ridiculously silly, especially when it is presented in the excogitate of a comedy. However, the consequences are far from amusing. The very fact that there is no choral closure after the burning of the Thinkery suggests that this ending is ironically serious. Despite the m usical genre differences of the texts, they are dissimilar presentations and interpretations of the same themethe breakdown of traditional Greek values.Both texts show the dire consequences as a result of breaking off from the tradition, and hence suggest the writers sense of disapproval. However, as Woody Allen once alleged, Tradition is the illusion of permanence As a society progresses, old traditions are bound to be challenged. Unlike in the History of Peloponnesian war, Aristophanes recognizes the limits of traditional values in the Clouds. While both texts show the grim effects of the breakdown, Aristophanes brings it to a complete new level. Works Cited Aristophanes, and Alan Sommerstein. The Clouds Lysistrata And Other Plays. Penguin Classics, 2002. Print. * Thucydides, and Rex Warner. History of the Peloponnesian War. London, EnglandPenguin Group, 1972. Print. * Schironi, Francesca. Thucydides Social Theory (Athenian Plague Corcyra) The Melian Dialogue. Classical Civiliz ation 101 Lecture. Ann Arbor, Michigan. November 8, 2011 * Schironi, Francesca. Philosophy, Scientific Enquiry and the Greek delicious Canon Classical Civilization 101 Lecture. Ann Arbor, Michigan. November 29, 2011

First Time in College Essay

College is passing disparate from high teach day creating newborn friends, dealing with more school work, and being responsible. In but about ways it can be a good thing precisely it can be a frightful thing as well. It is one of the biggest challenges roughly teenagers testament encounter to be prosperous in life. After all those four years of high school, it is now the time to join the ranks of the high school graduates who have chosen to achieve a higher education. Some might think it is very exciting go others might have a different opinion about it.Regardless of how they feel, being able to fall college is the primary step to the real world. As what Jason Rich, author of The Everything College Survival Book, has mentioned, This is the time when you are fashioning that life transition from living at home with your parents to becoming an adult. It is just about likely that these intimidating words result haunt a high school graduates mind until the stolon day of college. Still, there are plenty of ways to deal with the hardships a student whitethorn face while walking into college the low time.One of the foremost things on any students mind is that you do not know anyone, unless you have a bitstock of friends that decided to take the same program as you. The thing is, so does everyone else You can see this as the perfect opportunity to meet and make new friends that can help you get through this last chapter of your studying days. Like everybody else, many students are nervous and no one talks to anyone on the first day of classes. However, students try to overcome that fear and take a risk. In the end it impart all be worth it and as each semester passes by, most of them might become the best of friends or even roommates if they live away from home. If for some reason it does not work out during the first week, try to attend on-campus events or sign up for extracurricular activities. This way you can meet and connect with a bunch of gre at people, not only from your program but also from the entire school.Another difficulty many students may deal with is feeling overwhelmed by the sheer volume of work they may receive during the first month. During those 30 days, the course load is much harder compared to the amount of work in high school. For example, on the first day, the professor has already designated an assignment that will be due in the next couple of classes. In addition to that, another instructor from a different class might say there will be a test on the same day the assignment is due. Hearing this right after a long summer break will definitely overwhelm a students mind, especially if he has come directly out of high school. Therefore, before the stress keeps piling up, students may have to find a way to make adjustments to their old study habits. A great deal of effort must be put in each of their work and must not waste time. After all, no one would spend a huge amount of money on college just to fai l.In addition, going to college will expose you to brand new freedoms that require a higher level of maturity and responsibility. In comparison to high school, no one is going to check if you have done your homework or if you have studied for a major test. If the instructor says when the due date is going to be, that is the only day you can submit your work and there will be no exceptions unless there is an emergency then that will be a different story. There is a very limited opportunity that an instructor will take his time assisting hundreds of students. Although college life is about meeting new people, it is extremely important to know your boundaries and do not let your social life interfere with your studies. Managing your time well and being able to organize properly will be a great help to be able to go through college without a problem.As previously mentioned, there are various differences mingled with high school and college. Attending classes could become more difficul t due to the unusual atmosphere and having more independence. However, despite the numerous challenges that come with having a sporty go away in college, believing that you belong is the best way to overcome them. Given the time to adjust to all the changes, sooner or later, students will start to feel right at home in the new environment. College will be a way to help students shape their individuality and prepare them for the smite possible scenarios in the competitive world. Thus, high school graduates that decided to cross the bridge to attend college are one step closer to become successful in life.

Tennessee William’s Battle with Homosexuality Through Brick in “Cat on a Hot Tin Roof”

Tennessee Williams Battle With Homosexuality Through Brick Tennessee Williams wrote a variety of plays over the course of his animateness. Although all his characters sustain differences from play to play, in that location are many patterns that can easily be recognized which reflect his struggles in his daily life. What can be noted in the patterns is not provided the words the actor speaks or what is said on stage, but also the direction Williams gives them. Certain directions seem to be subtle speeches from Williams. Much of the direction is not just a movement but a literal feeling from Williams.The portrayal of Brick in Cat On A Hot Tin hood mirrors the emotional struggle Williams had with accepting himself as an openly gay man in a closeted society. Reading Williams plays, you get the vague idea of what his personal life and family were like. He grew up with an alcoholic stimulate. His mother was distraught. After a childhood illness, Williams didnt grow into the broad sh ouldered, strong man his father wanted him to be. Although he knew his sister, Rose, was in trouble living with his father, Williams still left for college.Rose was more outspoken about their fathers insane behavior caused by the alcohol, however she was forced to have a prefrontal leucotomy in 1937 which left her brain damaged. Williams could neither assert himself during family quarrels nor retreat (Hayman 44). After going to the University of Columbia for a stint and failing out of military training, his father pulled him out and put him to work at a shoe factory in St. Louis. His hatred for the monotonous work of the shoe factory drove him to lease all his spare time with writing. Williams writing included such(prenominal) of his former(prenominal) with his dysfunctional family.After Williams enrolled at Washington University, his parents separated repayable to his raging alcoholic father. His effect for creation so misunderstood by his family, but also for running away, was his writing. Throughout the 20th century, on that point were a number of plays written about homosexuality. Although the topic was either avoided or never straightforwardly asked nor answered, Williams characters had an internal battle with themselves. Coping with vices such as alcohol was common in his writings. The plays were appeals for tolerance, Hornby states, Misunderstood and despisedsometimes unconstipated by himself the homosexual had to come to grips with an excruciating problem. Brick portray by his physical ailment, alcohol abuse and heartbreak over his dear friend, Skipper, became the prime mannequin of how homosexuality became a metaphor for self-knowledge, a growing awareness of the weaknesses and mortality that we all have (278). Williams stage direction paints the picture before the play even begins. In stage direction prior, we find out that the plantation, which will at some point be inherited hopefully by Brick has an odd past. The room hasnt changed m uch since it was occupied by the original owners of the place, Jack Straw and Peter Ochello, a pair of old bachelors who shared this room and all their lives together. An element of suspense through Cat On A Hot Tin Roof is that there is no solid proof of homosexual activity confirmed, only assumed by the audience. He goes on to state that, the room must evoke some ghosts it is gently and poetically haunted by a relationship which must have involved a tenderness which was uncommon (880).In Biblers analysis of the structure of plantation life during this time, he discusses the importance of this mythic love, loyalty, and devotion present in the past relationship their life is now built upon. Williams addition of the stage designer notes cause Bricks insecurities to seem as though he is regressing from the strength of the previous owners supernatural relationship. From the beginning of Cat On A Hot Tin Roof, Maggie is not appreciated, barely recognized, and needs more out of their r elationship, especially children.Going along with the consistence of close of Williams plays, Brick is the self-loathing drunk and Maggie is the tense, crazy wife. She puts up with so much due to her goals of family money from Bricks side. Her husband is an attractive man despite his injury and vices as Maggie is also portrayed and beautiful yet Brick has no interest in her. She is on edge because she is lonely yet still in a relationship with the shell of a man she once knew. Brick refuses to make love to her so they will not have an heir of their own. He has an injury to his leg which is a constant monitor lizard of memories with his deceased friend, Skipper.His literal injury needs his crutch while his loneliness relies on alcohol. In the first scene, it is brought to the attention of the audience that the relationship between Brick and Skipper was supply by more than just a common friendship and was emotionally stronger than something which could be considered so simple. The play opens with Maggie attempting to woo Brick and with no success, in the second scene, it seems she snaps. Maggie is hammy trying to get a reaction out of Brick, yet his offer is for her to just take another man.Simple as that. She then tries to forcefully have him and there is then the comical scene of Brick fending Maggie off with a chair as if she is a crazed animal. The lack of a passionate relationship between Brick and Maggie is due to his closeted homosexual desires. Maggie is the sexually frustrated and figurative cat on a hot tin roof. The man she loves and wants has no interest in her. He is essentially handicapped by, not only his sexual desires at that time, but also emotional. This as a mirror of Tennessee Williams actual life.He was commonly, wanted but women he quite an liked, without feeling any desire for them (Hayman 147). In another way, Williams felt guilt for leaving his sister behind much like Brick felt guilty for Skippers acknowledgment of his love foll owed by his death. Williams also had his own vices, whether it be alcohol or sedatives, to deal with the crippled aspect of his own life fueled by being misunderstood in a dysfunctional family. By this time of his career writing Cat On A Hot Tin Roof, he had the rest as a wealthy white man. He portrayed himself in Brick as a closeted homosexual regardless of being out.His lifestyle choices could be skated roughly in daily life yet he would never be accepted in society at that time. Nearing the end of the first act, Brick makes a literary argument of honesty that is close to admission. One man has one great good genuine thing in his life, Brick states, One great good thing which is true I had friendship with Skipper Not love with you, Maggie, but friendship with Skipper (Williams 45). It is never fully stated through the play the full true statement of what happened between Brick and Skipper other than the two of them holding hands as friends across two twin beds.However, his s tatement addresses the emotional intimacy of their relationship between the men. Disregard physical judgements and the friendship between the them was still stronger than the marriage Brick has with his wife, Maggie. Williams struggled in his own personal life with all the personal issues he presented through Brick. Williams exercised the fear of a man living in times of intolerance concerning homosexuality, homophobic sentiments which he did not share, explained Canadas, but, rather, challenged, subtle even, covert as his methods may appear with the gain of hindsight (58).

What Patriotism means to me Essay

Do you believe in the love for your verdant? All the soldiers and heroes that argon out there in the world fighting for our freedom? The respect and the courage that you may have. nationalism is like an infection that travels around from integrity body to an separate and you cant cure it with whatsoever medication.To me patriotism essentially means the love and care for ones country. Although it may have other definitions, the real and main one is the love and devotion for your country. Being patriotic means non only wearing the flag as a pin, putting it up on your yard or saying the national anthem like most people do, It really means caring for the soldiers and everyone that helps this country be free, besides to give out your love and potential to your country.There are a weed of examples and symbols that patriotism can mean to me or to anyone in this world. For example, September 11, the United States flag, the Statue of Liberty and many to a greater extent are symbols of patriotism. I think that patriotism has grown more since 9/11 the day that changed the world, and that it is going to keep on growing more and more throughout the years to come. A married brace is like patriotism because they cant decide on the right choice or also like each other about how they are.Martin Luther King Jr. had the courage to lead a exploit against segregation he also had the courage to tell us what was wrong and what we did right. To me that is real patriotism because he was willing to fight for our country and love it equally among others. If we love our country, we should also love our countrymen is a known quote by Ronald Reagan that I think describes patriotism because it simply means love one another(prenominal) equally. So to me patriotism means the love for your county, it also means many other different things to one another. Remember you can be patriotic if you love and respect your country by just basically caring.

Catal Huyuk Women Essay

The general topic is about the role of wo manpower in this early agricultural society. Catal Huyuk had a population of 8,000 people and only 2,000 houses. Also, on that point werent any streets so they had to walk along the roofs and enter their homes through their roofs. Their homes were decorated with sculptures and paintings to illustrate animals and human figurines. The authors rudimentary header is to explore the findings and tell from them the type of society Catal Huyuk was and the roles of both men and women. Of course there could be evidence of both matriarchies and patriarchies but finding out what were the main roles of both sexes.In todays world we see more than of a patriarchy due to men having more complex and monstrous jobs and when women do have the same job their pay isnt equal to the men pay. Information such(prenominal) as women figurines was found. During the first excavations in the early 1960s, a figurine was discovered. The sculpture was a heavyset cleanin g lady sitting on a seat with an animal on each side that could possibly be leopards. It is said that the women could have worshiped a powerful mother goddess and it is likely that the figurine can be besides that.It seemed that it was mostly, or started off as, a patriarchy. Ian Hodder states cultural anthropology provides no substantiated claims for true matriarchies (Hodder pg 78). The condition has both strengths and flunkes in my point of view. The strength of this article is the total selective information about Catal Huyuk and explanations of why there isnt much evidence. The weakness of this article is that it gives more information about the settlement and not the evidence of roles. I believe that this article has been a bit limp due to the lack of evidence showing the roles of men and women.Though there wasnt much differentiation of roles that could show that social roles werent important. The strongest evidence found was the diet of men and women from this settlement. The only evidence found in teeth was that women had more cavities than men but both had analogous diets and lifestyles. Also, women did the cooking and men did the stone making. In addition, many births were taking place and many bodies were found of women who were big(predicate) that might show that women made more sacrifices. Ive learned that finding out roles of men and women could be difficult depending on bones.But there could have been little evidence due to the unimportance of roles as previously mentioned. If our world showed no care to social roles, a lot of things would be different. Job preferences would decidedly different. In some countries social roles arent important and therefore, they have less social and maybe frugal problems than we do here. To follow up on the research presented I would search for more recent information and information from earlier research. Because only 18% of the site was excavated, more and more excavations could be done and more new inf ormation could be discovered.

Career Interest Profiler Essay

The results from my interest profiler were enterprising occupations, social occupations and conventional occupations. ambitious occupations include starting up and carrying out projects. These occupations can inquire leading people and making many a(prenominal) decisions. Sometimes they require risk taking and often deal with business. Social occupations frequently involve weeing with, communicating with, and teaching people. These occupations often involve helping or providing service to others and conventional occupations frequently involve following set procedures and routines.These occupations can include working with data and details more than with ideas. Usually in that location is a clear line of authority to follow. The results of my competencies were organizing, strategizing, innovating, following instructions, adapting to change and entrepreneurial thinking. As stated in my career plan a lawyer, judge, supervisory program of an office, administrative support worker, supervisor of protective service workers and supervisor of sales workers were examples of possible job titles that matched my competencies.According to my career plan the first result of my work shade preferences was supportive which includes a secure, stable environment, clearly defined jobs, goals and expectations, no conflicting demands, considerate management, focuses on employee welfare, a great deal of personal development and feedback, lots of recognition and celebration of success and a fun place to work.The minute result was high powered which includes demanding jobs, career development, career advancement, the chance to learn new skills, the chance to separate out different jobs or work in different places, high salaries, likelihood of rapid progress and other benefits. Last, but not least the third result was ethical which includes emphasis on fairness, active promotion of equal rights and justice for all, the chance to contribute positively to society and make a di fference to peoples lives and an emphasis on social and environmental responsibility.After taking the assessments for my career interest profiler, competencies and work culture preferences, I have gained a lot of useful information about myself as healthy as in regards to what specific characteristics I possess and what type of employment opportunities I should be curious for. There was a ton of information to consider after looking at the results, but I feel as though I can take this information and apply it to my life as I am looking to advance within my career.

Customer Service Essay

HandoutIn this Session, you obligate keyed about The principles, policies and procedures of your agreement How your disposal communicates its principles to employees Your arrangements policies and economys of utilize Consultations on changes to principles, policies and procedures Issues of public fill relating to your fabrication and organisation.Principles, policies and proceduresPrinciples be the foundation of a system of beliefs within an organisation. Principles argon the philosophy of the organisation, illustrating how the organisation thinks. A policy is a definite course of action adopted by an organisation, which guides employees and helps them put principles into practice. Customer expediency policies are similar in many organisations, but some may be tailored to upheaval your organisations specific principles. A procedure is a series of steps to be followed to flop answer the telephone, deal with complaints, give refunds etc. governances tend to have their own specific procedures.Communicating principles to employeesAn organisation may communicate its principles to employees in the following waysThe recruitment processReading material convocation discussions Appraisals and feedback Improving group performancePrinciples may be worked into the recruitment process. Interviewees asked about the organisations principles. Organisation handbook and vision statement include principles. This may be the first thing new recruits learn about the organisation. Printing out principles and posting them in the office ensures they feature in every employees day. Principles could be printed on commonly used items. Hearing principles read out is more effective for some. Managers and team leaders remind employees of principles. Discussion of whether an employee adheres to principles may be part of a formal review. Company awards are used to publicise principles. Company away-days and team-building exercises are opportunities to remind employees of principl es. Team-building tasks could be centred on principles.Policies and commandments of practiceA code of practice is a set of written rules or standards outlining the responsibilities of, or proper practices for, an employee or organisation. An industry-wide code of practice is often defined by a trade association or professional body. Policies tend to be written by an organisation and based on an industry-wide code of practice. Your organisation might make you alive(predicate) of its policies or code of practice by Publishing the code of practice/policies on their website or the intranet Emailing updates to the code of practice and policies to all employees Including the code of practice and policies in the organisation handbook Basing appraisals or feedback systems around policies / code of practice Indicating the trade association/professional body who wrote the code of practice.Consultations on changeIf you are consulted on changes, your opinion is considered by those making the decision. Ways to consult employees on changes to principles, policies and procedures include Small group meetings (face-to-face or via a video conference) Questionnaire Discussion with line manager/team leader Intranet bulletins or a FAQ scallywag Email Team bulletins Monthly newsletter Letter A trade union/employee representative or staff council.How you are consulted depends on the size and structure of your organisation, employee work practices and the information being communicated. If your organisation has 50+ employees, you have the right to request an Information and Consultation arrangement.Issues of public look upIssues of public concern relating to your industry or organisation could include Product recall and customer ripety is your product/ proceeds safe and reliable? Confidentiality do you store customer information securely? Accessibility is it easy to contact your organisation/use your services? Quality is product/service equal to competitors? Responsiveness how quickly will you answer to a customer and resolve problems? Value customers do you value your customers and treat them appropriately?Finances are accounts transparent and investments ethical? Wider concerns public health, economy, environment, exploitation of workers etc. Your organisation may deal with issues of public concern by Establishing stringent testing and health and safety processes Ensuring varied and easily accessed means of communicating with the organisation Investing in public relations to communicate effectively with the public Establishing clear customer service policies, making them available to the public and ensuring that staff adhere to these policies Publishing the organisations accounts Publishing a code of practice relating to the organisations economic, ethical, environmental responsibilities etc.

Securitisation

Outline the advantages and disadvantages of the securitisation of believe loans 1. 1 presentment The recent turmoil in credit grocerys has highlighted how securitisation has changed in only a some years from being a relatively niche market in the euro ara to being a major force behind heavy(p) market ripenings. This growth in securitisation reflects the attachd pace of pecuniary intent in the fiscal markets.It is rational to say that this planetary trend of the growth in securitisation is a result of the advantages that atomic number 18 derived by the diametrical break upies engaged in the accomplishment. Securitisation has befit an important tool for many an(prenominal) companies and a severalize part of the planetary capital markets. However, while securitisation has benefited the pecuniary musical arrangement as a whole through and through enhancing its ability in performing its various functions, it has con presently changed the profound political economy of the lodgeing system, which brought consequences as those experienced in the 2007 monetary crisis.Whether the gains exceed the injusticees is a debatable issue in itself as some intellectuals believe that securitisation has contri nonwithstandinged to the development of a far more flexible, economic, and resilient financial system than existed clean a quarter-century ago, while differents believe the opposite. The significance of securitisation has led to on that point has been talks by influential bodies about how securitisation can be regulated or changed as to maximise the benefits and minimize the monetary values.In this essay, to answer the above question I leave behind define securitisation, explain its mechanics and nature and lastly discuss its advantages and disadvantages for the different parties engaged in it and the financial system as a whole. The scope of this essay is secondary securitisation, so the above will be discussed specifically to this type and non primary and tertiary. 1. 2 Definition of key terms Securitisation in everyday is the creation and issuance of debt securities, or bonds, whose payments of principal and take derive from immediate payment flows gene esteemd by sepa range ponds of assets.There 2 types of securities that can be issued. When the securitised assets are mortgages, the securities issued are known as owe -Backed Securities (MBS) and where it is other assets which are non-mortgage loans thitherfore Asset-backed securities (ABS) are issued. In the latter type, assets included are such as consumer loans, credit card receivables and car loans. These securities are marketable financial instruments, and tradable. In every securitisation transaction the capital markets are displacing the banks regardless of its type, whether primary secondary or tertiary, i. . disintermediation. Secondary securitisation is Asset Backed. Bank of England defines this type as a transaction or scheme whereby the credit pretend of an asset or a pool of assets such is transferred to an external undertaking (the securitisation special purpose vehicle or structure), which then transfers this credit pretend onwards to sendors in fixed-income securities known as asset backed securities issued by that undertaking. The investors in the securities may be either external investors or the institution that originated the fundamental assets.Another way to look at this process is through professor Llewellyn definition which explicitly high lightens the benefits. He defines secondary securitisation as the conversion of cash flows from a portfolio of assets into negotiable instruments or assignable debts which are sold to investors, are secured on the underlying assets and carry a variety of credit enhancement. To netly outline the pros and cons of the participants in the process, one needs to clear their roles as shown below in figure 1. Figure 1 1. 3 How it worksWhen a bank transforms a portfolio of loans that it is currently holding on the sleep tack into tradable securities issued by a bankruptcy-remote special purpose vehicle it follows a basic procedure as seen in the diagram. A number of customers borrow from the bank. They all have to payback regular interest and principal payments to the bank as agreed upon on the contract. Starting from the originator in this showcase the bank, it pools together a number of these loans (assets) and constructs a portfolio of which it sells to the special purpose vehicle SPV.The SPV usually acquires the underlying assets from the originator in what is known as a true sale. It is critical that the transfer of assets from the originator to the SPV is de jure viewed as a true sale. This is be former it gives the investors rights over the specific assets of the originator, such that the investors are not bear on by the performance, or bankruptcy of the originator. This would obviously necessitate that the investors, or the SPV which is a conduit o n behalf of the investors, has legally acquired the assets.If it is not a true sale the investor will be vulnerable to claims against the asset originator in this case the bank. The SPV then issues asset backed securities to investors which investors can them trade in the financial capital markets. Investors then demoralize these securities and the SPV pick ups the regular interest and principal payments from the borrowers through the originator or servicer (if the bank does not retain the help function) who charge a certain fee. The SPV pays the originator for the portfolio in a lump sum rather than a stream of payments spread over time.It is important to acknowledge that the bank continues to maintain the relationship with the customer and it does not have a duty to inform this about this process. The credit quality of the securities issued by the SPV is rated by a rating agency before being sold to investors. Also another important participant though missing in figure 11, is a credit enhancer. This is either internally or externally done and it might take the form of over securitisation (placing a higher value of loan in the portfolio than the value of the sale), a third party guarantee or a guarantee from the seller.This has the final result of reverberateing the essay to investors. The underwriter is usually an investment bank that serves as an intermediary between the issuer (SPV or the trust) and investors. The swap counterparty as seen in the diagram is normally involved to hedge the interest rate and coin risk of exposures on the pool and the trustee ensures that the money is transferred from the servicer to the SPV and that investors are paid in accordance with the promised priority. A authoritative aspect of securitisation is the isolation of assets. After a true sale, the assets (collateral) are held by the SPV or equivalent.This protects the seller (originator) from the risk of the assets and investor from the risks of the bank, becaus e even if the bank goes bankrupt, the payments on the assets will continue to be made, so investors still receive the interest and principal payments. An SPV might be a completely independent entity or a subsidiary of the bank itself. In the crisis it was more of the latter. However, for it to be a subsidiary it will only work if the SPV is bankruptcy remote, as explained earlier. This is where under company law the SPV is immune to the bankruptcy of the ank. This makes their risk entirely different and this is how credit risk isolation and shifting is possible. Also an SPV might become a Structured Investment Vehicle. Often the SPV has a higher credit rating (most secure a AAA rating) than the originator. The SPV performing the asset-backed securitization(s) also usually has a backup crystallineity facility in place provided by a stand-by commitment from a family (group) of banks. This facility protects the investors who purchase the commercial paper issued by the SPV as the ass ets are being purchased and pooled.If for some solid ground the SPV cannot attract the same or modern investors to roll over the commercial paper or there is insufficient cash flow generated by the pool to pay off maturing commercial paper then the SPV draws on the backup liquidity facility to pay off the investors and the bank group then become the owners of the assets held by the SPV (to either wait for the cash flow to make better or to liquidate the portfolio). Credit enhancements are required in coif to receive higher debt ratings and thus improve marketability and financing costs.The credit enhancement of a securitization can be achieved by dividing it into tranches and allowing some tranches be exposed first to any loss from defaulting / under-performing individual asset or group of assets first. In this manner, these front-line tranches nearly function like an equity gash such that the investors in the other tranches (Mezzanine tranches) are satisfied first before the lower tranches. These lower-rated (first loss) tranches usually receive a higher yield (due to their higher risk position) when the security is first structured in order to attract investors when first brought to market. . Advantages of secondary securitisation There are different aspects to the benefits of securitisation, the benefits derived by the issuer (bank) and those derived by the investor and the financial system as a whole. 2. 1 The issuer Secondary securitisation benefits the banks by helping them generate more funds but also by allowing them to manage their assets and liabilities, risk and also capital. * A source of funding Securitisation enables banks to change the illiquid portfolio of loans into liquid tradable securities. It makes loans marketable.So the banks get funds immediately from selling the portfolio to the SPV. Also there being a secondary market for these securities in itself increases the attractiveness of investors to buy the securities meaning more fund s. The funding source is also widened because as the risk are specific, asset backed securities often appeal to investors who would not normally make funds gettable to banks by themselves. This source of funding may also be cheaper for the bank. This is because banks do not need to increase their interest rates to attract marginal deposits to fund their loan book.Also because the banks transfer the asset to the SPV they do not need to hold capital against the loans (assets) which is a cost, making this type of funding cheaper. Ultimately this pith that it can offer lower interest rates to borrowers, which could have the effect of increasing the quantity of loans demanded. This tat is not alship canal possible it only depends on the nature of the risks of the portfolio after and before securitisation. * Asset and liability management The fact that securitisation allows banks to shift the assets from their balance sheet allows them to change their asset composition on the sheet wi thin a given total.They can change the structure of their assets and reduce exposure to a picky loan category by securitizing those loans which also helps in managing risks. It also provides the balance sheet with flexibility and facilitates variegation of the loan portfolio. * Risk management As the definition implies, securitisation allows banks to transfer and shift credit risk from their balance sheet to those who are willing and more able to absorb them. Hence this allows banks to manage their risk and limit their risks by selling those loans.The transfer of risk allows banks to not hold any capital against the risks, so as earlier said reduces the cost of banking. It also allows them to manage interest rate risk. * Capital Management get inable to the increasing competitive pressures, they cannot earn a sufficient return on the assets to service their capital animal foot well. Securitisation saves them capital as explained earlier. * Other Banks can earn additional income by charging fees on originating loans that it does not show to keep on its balance sheet.Also banks still get to maintain their relationship with their customers and reduce the overall cost of intermediation by concentrating on their comparative advantages (originating loans). 2. 2 The investor * It gives investors the opportunity to earn a higher rate of return (on a risk-adjusted basis). Also the high liquidity of securities means that investors can trade them for cash at their own convenience. * Asset backed securities allows the isolation of credit risk from the originator.This could benefit investors in that they are not exposed to the banks risks of which could increase the credit rating of the underlying assets themselves. * Investors also get the opportunity to invest in a specific pool of high quality assets Due to the stringent requirements for corporations (for example) to attain high ratings, there is a dearth of highly rated entities that exist. Securitizations, howeve r, allow for the creation of large quantities of AAA, AA or A rated bonds, and risk loath(predicate) institutional investors, or investors that are required to invest in only highly rated assets, have rag to a larger pool of investment options. Investors can gain portfolio diversification as they tend to invest in securities that may be uncorrelatedto their other bonds and securities. 2. 3 The Financial System In general securitisation, being part of innovation has benefits for the financial system and the economy as a whole by contribution to the basic functions of the financial system risk-transference, pricing of risk, liquidity-enhancement, credit-generation and financial intermediation, insurance, asset and liability management, an efficient allocation of financial resources, and the funding of financial institutions.Securitisation as a proficiency means that loans are assed more oftentimes and hence to current terms as when they are just on a banks balance sheet. In a way this allows the risks prices to be adjusted accordingly. Also another important call contribution is the ability that it offers banks to lend more to the economy by knowing that it can sell the loans. This has its drawbacks which will be discussed later, but while it is possible, it helps the real economy as governments encourage more lending for the progress of the real economy.In addition, securitisation allows different parties to concentrate on their comparative advantages such as banks being originators. It is in this ways that securitisation increases the efficiency of the financial system which is a social benefit to its people. The Bank for international settlements summarises this in the development of credit risk transfer CRT has a authorizationly important impact on the functioning of the financial system. It provides opportunity for more effective risk management, promises the relaxation of some constraints on credit availability, and allows more efficient allocation o f risk to a wider range of entities.The pricing information provided by new CRT markets is also leading to enhanced transparentness and liquidity in credit markets. 3. Disadvantages of secondary securitisation 3. 1 The issuer * The first transaction has to be significant and it can be costly also. There are compliance costs and trim down control by the originator of the assets sold to the SPV. * Though it the securitisation structure looks fairly simple, just like other CRS (credit shifting instruments), they are very complex in nature, to the extent that banks and other institutions did not fully understand the risks which they were taking and exposing themselves to.As seen in the crisis, the risk were not always shifted, sometimes they were just transferred, from credit risk to a liquidity risk and finally to a funding risk , which was unmixed in the crisis when Interbank Market almost dried up and there was no securities trading. This is what contributed to the financial cris is as while every bank was diversifying into this business, they financial system became less diverse. * If banks do this in large amounts, they could become dependent on the securities market which proven to have it consequences, when trading ceased. As the wealthy reader summarised Without risks, bank went crazy. Credit scores didnt matter, liar loans were joint. This proved to back fire for the banks themselves because they were also investing in securities issued by other banks and it led to ample losses for the banks. 3. 2 The investors Securitisation exposes investors to a number of risks such as * Credit/default risk when nutriment obligations on the underlying collateral are not sufficiently met as detailed in its prospectus. A key indicator of a particular securitys default risk is its credit rating. polar tranches within the ABS are rated differently, with senior classes of most issues receiving the highest rating, and subordinated classes receiving correspondingly low er credit ratings . However, the crisis has exposed a potential flaw in the securitisation process loan originators retain no residual risk for the loans they make, but collect substantial fees on loan issuance and securitization, which doesnt encourage improvement of underwriting standards. Prepayment/reinvestment/early amortisation The majority of revolving ABS is arena to some degree of early amortization risk. The risk stems from specific early amortization events or payout events that cause the security to be paid off prematurely. Typically, payout events include insufficient payments from the underlying borrowers, insufficient excess primed(p) Income Sectors Asset-Backed Securities spread, a rise in the default rate on the underlying loans above a contract level, a decrease in credit enhancements below a specific level, and bankruptcy on the part of the sponsor or servicer. Currency interest rate fluctuations Like all fixed income securities, the prices of fixed rate ABS mo ve in response to changes in interest rates but floating rate securities are affected more. * Moral hazard Investors usually rely on the deal manager to price the securitizations underlying assets. If the manager earns fees based on performance, there may be a temptation to mark up the prices of the portfolio assets. Conflicts of interest can also arise with senior note holders when the manager has a claim on the deals excess spread * There is also a risk that the payments will be late from the servicer. . 3 The financial system The consequences of securitisation that were experienced in the crisis were expensive as Sir Howard Davies inferred CDOs are the most toxic element of the financial markets today . Securitisation and Collateralised Debt Obligations (CDOs) are described as two major instruments at the centre of the financial market turmoil. European banks also took on board significant securitisation programmes. . They contributed highly to the global financial crisis which has had huge costs to the tax payers, governments and central banks.An important aspect of securitisation is that it has changed the traditional manakin of banking and hence underlying economics of banking. With securitization banks accept deposits, originate loans, utilizes it comparative advantages, as it did traditionally. However with securitisation is does not accept risk, does not hold it on its balance sheet and therefore needs no capital backing and insurance, things which it traditionally did. This change of model have had severe implication for the financial system as banks stopped acting like banks, and it was clear that they did not quite understand the implications.Another big effect is the effect that this had had on the financial system stability of which in itself is an ambiguous issue. 4. Conclusion There has been a division in the overall effects of securitisation to the global economy and financial system. While influential people like Warren Buffet regard it as a lethal weapon, others think the opposite. Regardless of the costs there are substantial benefits for the system. It is now evident that when a securitisation gets beyond the critical device of market participants, however, it is capable of destroying value.The potential harm is greater in globally interconnected markets. Hence it would be beneficial for the whole system if regulators, supervisors and all participants learn the flaws of securitisation from the crisis and improve the process to form one which ensures that the benefits are derived at the minimum costs, or no costs. As Professor David Llewellyn states the baby (of securitisation) should not be drowned in the bathwater (of regulation). Bibliography * Llyewellyn. , T, David. , 2000,. Securitisation a technique for asset and liability management * Casu, B. , Girardone. , Molyneux P. 2006. Introduction to banking. Essex Pearson Education Limited. * ECB financial stability review. , 2008. , securitisation in the Euro ar ea. on tap(predicate) at http//www. afi. es/EO/securitisation%20in%20the%20euro%20area. pdf Accessed 5/4/11 * http//www. banque-credit. org/EN/banks/advantage-securitisation. htmlAccessed on 19/04/11 * Lederman, J. , 1990. , The handbook of Asset-Backed Securities * Tarun, S. , Securitisation Understanding the Risks and Rewards . Available at http//www. qfinance. com/contentFiles/QF02/gjbkw9a0/17/0/securitisation-understanding-the-risks-and-rewards. df Accessed 01/05/11 * Llewellyn, T, D. , 2009. , the global banking crisis and the back crisis banking and regulatory scenario . Price Waterhouse Coopers. , 2011. , using transparency to thaw the securitisation market. * Available at http//wealthyreader. com/articles/securitization-good-idea-gone-bad-or-what-just-happened/ * Llyewellyn, T, David. , 2008. , Financial innovation and a new economics for banking * Bank of England. , 2007. , general notes and definitions. Available at http//www. bankofengland. co. uk/statistics/reporters /defs/def_gene. pdf . Accessed 01/05/11 * ttp//ftalphaville. ft. com/search? q=growth+in+securitisation. Accessed 30/05/11 1 . ECB financial stability review. , 2008. , securitisation in the Euro area. Available at http//www. afi. es/EO/securitisation%20in%20the%20euro%20area. pdf 2 . Llyewellyn, T, David. , 2008. , Financial innovation and a new economics for banking. 3 . Price Waterhouse Coopers. , 2011. , using transparency to thaw the securitisation market. 4 . Llyewellyn. , T, David. , 2000,. Securitisation a technique for asset and liability management 5 . Bank of England. 2007. , general notes and definition. Available at http//www. bankofengland. co. uk/statistics/reporters/defs/def_gene. pdf 6 . Llyewellyn. , T, David. , 2000,. Securitisation a technique for asset and liability management 7 . ECB financial stability review. , 2008. , securitisation in the Euro area. Available at http//www. afi. es/EO/securitisation%20in%20the%20euro%20area. pdf 8 . ECB financial st ability review. , 2008. , securitisation in the Euro area. Available at http//www. afi. es/EO/securitisation%20in%20the%20euro%20area. pdf 9 . American securitisation forum. 2003. , preventing abusive lending while protecting credit. Available at http//financialservices. house. gov/media/pdf/110503cc. pdf 10 . Llyewellyn. , T, David. , 2000,. Securitisation a technique for asset and liability management 11 . ECB financial stability review. , 2008. , securitisation in the Euro area. Available at http//www. afi. es/EO/securitisation%20in%20the%20euro%20area. pdf 12 . Casu, B. , Girardone. , Molyneux P. , 2006. Introduction to banking. Essex Pearson Education Limited 13 . ECB financial stability review. , 2008. , securitisation in the Euro area.Available at http//www. afi. es/EO/securitisation%20in%20the%20euro%20area. pdf 14 . ECB financial stability review. , 2008. , securitisation in the Euro area. Available at http//www. afi. es/EO/securitisation%20in%20the%20euro%20area. pdf 15 . Llyewellyn. , T, David. , 2000,. Securitisation a technique for asset and liability management 16 . Llyewellyn. , T, David. , 2000,. Securitisation a technique for asset and liability management 17 . Llyewellyn. , T, David. , 2000,. Securitisation a technique for asset and liability management 18 . Casu, B. , Girardone. , Molyneux P. 2006. Introduction to banking. Essex Pearson Education Limited 19 . Available at http//www. credfinrisk. com/assetsecure. html 20 . Llyewellyn, T, David. , 2008. , Financial innovation and a new economics for banking 21 . Bank of England. , 2007. , general notes and definition. Available at http//www. bankofengland. co. uk/statistics/reporters/defs/def_gene. pdf 22 . Llyewellyn, T, David. , 2008. , Financial innovation and a new economics for banking 23 . Available at http//wealthyreader. com/articles/securitization-good-idea-gone-bad-or-what-just-happened/ 24 .Available at http//securitization. co. tv/ 25 . Price Waterhouse Coopers. , 2011. , using transparency to thaw the securitisation market. 26 . Available at http//securitization. co. tv/ 27 . Casu, B. , Girardone. , Molyneux P. , 2006. Introduction to banking. Essex Pearson Education Limited. 28 . Lederman, J. , 1990. , The Handbook of Asset-Backed Securities. 29 . Available at http//www. tavakolistructuredfinance. com/Reporting%20v%20PR_Meredith%20Whitney%20and%20AIG%20March%2023%202009. pdf 30 . Available at http//www. banque-credit. rg/EN/banks/advantage-securitisation. html. 31 . Llewellyn, T, D. , 2009. , The Federal Rock Crisis A Multi-Dimensional problem waiting to happen 32 . Llyewellyn, T, David. , 2008. , Financial innovation and a new economics for banking 33 . Tarun, S. , Securitisation Understanding the Risks and Rewards . Available at http//www. qfinance. com/contentFiles/QF02/gjbkw9a0/17/0/securitisation-understanding-the-risks-and-rewards. pdf Accessed 17/04/11 34 . Llewellyn, T, D. , 2009. , the global banking crisis and the post c risis banking and regulatory scenario .