Sunday, May 17, 2020

An Analysis Of Financial Structure And Transaction Cost Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1876 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? In an economy, the financial structure is designed promote economic efficiency. One of the main requirements for a healthy economy is an efficient financial system that channel funds from savers to investors. The financial structure of a country includes a complex structure of financial system including many different financial institutions: banks, insurance companies, mutual funds, stock and bonds markets, etc. which channel the money from the people who save to people with investment opportunities. (Mishkin 169) Basic Facts about Financial Structure According to Mishkin, There are eight basic puzzles that we need to solve in order to understand how the financial system works.(Mishkin 169-172) Stocks are not the most important source of external financing for businesses. Issuing marketable debt and equity securities is not the primary way in which businesses finance their operations. Indirect finance, which involves the activities of financial intermediaries, is any times more important than direct finance, in which businesses raise funds directly from lenders in financial markets. Financial intermediaries, particularly banks, are the most important source of external funds used to finance businesses. The financial system is among the most heavily regulated sectors of the economy. Only large, well-established corporations have easy access to securities market to finance their activities. Collateral is a prevalent feature of debt contracts for both households and businesses. Debt contracts typically ar e extremely complicated legal documents that place substantial restrictions on the behavior of the borrower. Financial structure depends on two factors: transactions costs, and information costs. Don’t waste time! Our writers will create an original "An Analysis Of Financial Structure And Transaction Cost Finance Essay" essay for you Create order Transaction Cost Transactions costs influence financial structure. They are major problems in financial markets and are too high for ordinary people. Financial intermediaries-help in reducing transaction costs and allow small savers and borrowers to benefit from the existence of financial markets. One solution to the problem of high transaction costs is to package the funds of many investors together so that they can take advantage of economies of scale. (Economies of scale exist because the total cost of carrying out a transaction in financial markets increases only as little as the size of the transaction grows.) They also develop expertise to lower transactions costs and provide investors with liquidity services. Fig.1. A Comparison of transaction cost between various countries Source: The Financial Express. Indian Securities Market Has Lowest Transaction Cost; Malaysian Highest. Business News, Finance News, Stock Market, World Business, Financial Markets News Online. N.p., n.d. Web. 21 July 2010. In the chart above we can see that the securities market in India has emerged as the lowest cost market among all these countries. According to a study by market regulator Securities Exchange Board of India (Sebi), transaction cost in this market is 40 bps . The second lowest cost market is Hong Kong, which has a transaction cost of 43.03 bps, while the Malaysian market with transaction cost at 97.50 bps is the highest. Among the other markets where cost of transaction is comparatively higher with respect to Indian markets is Thailand (60 bps), USA (64.60 bps), Singapore (75.50 bps) and Australia (81 bps). These transaction cost includes various components like brokerage, regulators fee, custody charges, clearing charges and levies like stamp duty. Asymmetric Information: Adverse Selection and Moral Hazard Asymmetric information is a situation that arises when one partys insufficient knowledge about the other party involved in a transaction makes it impossible to make accurate decisions when conducting the transaction. The presence of asymmetric information leads to adverse selection and moral hazard problems. Adverse Selection Adverse selection is an asymmetric information problem that occurs before the transaction. Potential bad credit risks are the ones who most actively seek out loans. Because adverse selection increases the chances that a loan might be made to a bad credit risk, lenders might decide not to make any loans, even though there are good credit risks in the marketplace. Moral Hazard Moral hazard arises after the transaction occurs. The lender runs the risk that the borrower will engage in activities that are undesirable from the lenders point of view because they make it less likely that the loan will be paid back. Because moral hazard lowers the chance that the loan will be paid back, lenders may decide that they would rather not make loans. The Lemons Problem: How Adverse Selection Influences Financial Structure The Lemons Problem arises when investors cant distinguish between good and bad securities, and are willing to pay only average of good and bad securities value. The result is that good securities are undervalued and firms wont issue them; whereas bad securities overvalued so too many are issued. So, Investors wont want to buy bad securities, so market wont function well. According George Akerlof, ÂÂ  Information asymmetry occurs when the seller knows more about a product than the buyer. ( Akerlof 3) Tools to Help Solve Adverse Selection (Lemons) Problems Methods of elimination of asymmetric information Private Production and Sale of Information Furnishing the people who supply funds (lenders) with full details about the individuals or firms seeking to finance their investment activities (borrowers). Private companies who collect information from the firms balance sheets and investment activities publish the data and sell them to subscribers. For example: SP or Moodys Free-rider problem interferes with this solution The free-rider problem occurs when people who do not pay for information take advantage of the information that other people have paid for. Government Regulation to Increase Information The government regulates the securities market in a way that encourages firms to reveal honest information about themselves so that the investors can determine how good or bad the firms are. For example, annual audits of public corporations. Financial Intermediation A financial intermediary becomes an expert in producing information about firms, so that it can sort out good credit risk form bad ones. Banks can also avoid free-rider problem. It is making private loans Banks are more important in the financial systems of developing countries When the quality of information is better, asymmetric information problems will be less severe. Also the larger and more established a corporation is, the more likely it will be to issue securities to raise funds. Collateral and Net Worth Collateral reduces the consequences of adverse selection because it reduces the lenders losses in the event of a default. Lenders are more willing to make loans secured by collateral, and borrowers are willing to supply collateral in order to get the loan and at better rate. Net worth (equity capital), the difference between a firms assets and its liabilities, can perform a similar role to collateral. How Moral Hazard Affects the Choice between Debt Equity Contracts Moral hazard is the asymmetric information problem that occurs after financial transaction takes place, when the seller of a security may have incentives to hide information and engage in activities that are undesirable for the purchaser of the security. It has important consequences for whether a firm finds it easier to raise funds with debt than with equity contracts. Moral Hazard in Equity Contracts: The Principal-Agent Problem The Principal-Agent Problem is the result of separation of ownership by stockholders (principals) from control by managers (agents). Managers act in own rather than stockholders interest because the managers have less incentive to maximize profits than stockholders-owners do. The agent is hired to act on behalf of (and in the best interests of) the principal (Silver). C:UsersChrish_naDesktopPrincipal_agent.png Source: (WGA update: the not-so-basic economics of industrial action) In the figure above it can be seen how the Principal-agent Problem treats the difficulties that arise under conditions of incomplete andÂÂ  asymmetric informationÂÂ  when aÂÂ  principalÂÂ  hires anÂÂ  agent, such as the problem of potentialÂÂ  moral hazardÂÂ  andÂÂ  conflict of interest, in as much as the principal is most probably hiring the agent to pursue its, the principals, interests. Various mechanisms may be used to try to align the interests of the agent in cohesion with those of the principal, such as piece rates/commissions,ÂÂ  profit sharing,ÂÂ  efficiency wages,ÂÂ  performance measurementÂÂ  (includingÂÂ  financial statements), the agent posting a bond, or fear of firing. The principal-agent problem is found in most employer/employee relationships, for example, whenÂÂ  stakeholdersÂÂ  hire top executives ofÂÂ  corporations. Tools to Help Solve the Principal-Agent Problem Production of Information: Monitoring One way for stockholder to reduce this moral hazard problem is to monitor the firms activities through different monitoring process such as auditing and checking what the management is doing. Government Regulation to increase information Governments have laws to force firms to adhere to standard accounting principles that make profit verification easier. They also impose stiff criminal penalties on people who commit the fraud of hiding and stealing profits. However, these laws and regulations are not fully effective. It is not easy to catch the fraudulent managers because they have incentives to make very hard for government agencies to find or prove fraud. Financial Intermediation Financial intermediation has the ability to avoid the free-rider problem in the face of moral hazard, and this is another reason why indirect finance is so important. Debt Contracts Debt contract is an agreement whereby the borrower pays the lender a fixed amount at periodic intervals. As long as the lender receives the agreed amount, he does not care whether the firm is making profit or suffering a loss. How Moral Hazard Influences Financial Structure in Debt Markets Even with the advantages over equity contact, debt contracts are still subject to moral hazard. Because a debt contract requires the borrower to pay out a fixed amount and lets him keep any profits above this amount, the borrower has an incentive to take on investment projects that are riskier than the lenders would like. Because of the potential moral hazard, lenders may not make the loan to the borrower. Tools to Help Solve Moral Hazard in Debt Contracts Net Worth and Collateral When borrowers have more at stake because their net worth is high or collateral they have pledged to the lender is valuable, the risk of moral hazard will be reduced . Monitoring and Enforcement of Restrictive Covenants Restrictive covenants are directed to reduce moral hazard either by ruling out undesirable behaviour or by encouraging desirable behaviour. Financial Intermediation: Banks and other intermediaries have special advantages in monitoring. Financial intermediaries-particularly banks- have the ability to avoid the free-rider problem as the make primarily private loans. Private loans are not traded, so no free-rider problem exists. Conclusion A healthy and vibrant economy requires a financial system that moves funds from people who save to people who have productive investment opportunities. A proper financial system makes sure that the hard-earned savings of people get channeled to productive investors. There are powerful economic concepts that enable us to explain features of the financial system, such as why financial contracts are written as they are and that the financial intermediaries are more important than securities markets for getting funds to borrowers. The economic analysis of the financial structure also explains about how financial intermediaries are important for small investors to invest their money and help in reducing the transaction costs, these financial intermediaries also enable small investors to diversify their portfolio and minimize losses. It also explains about the risks involved when borrowers borrow money from various markets such as the Debt and Equity markets and also teaches us the tools and techniques to minimize losses due to these risks.

Wednesday, May 6, 2020

Morality of Bribes - 1100 Words

Bribes and Morality Machiavelli (1882), in writing of cruelty and clemency asks the question of whether it is better to be loved or feared and asserts that both are best. Machiavelli (1882) justifies this conclusion by saying that people are fickle. They will pledge their lives when danger is distant and benefits are high, but desert those to whom they pledge their lives when danger is imminent. The person who places love above all else is in danger during times of crisis. Conversely, men are careful not to offend those they fear, because they fear the punishment and are more likely to remain true to their pledge. There is a caution in this assertion to know the difference between fear and hatred and the recommendation is to be†¦show more content†¦There is no compelling force, other than a sense of morality to encourage organizations to admit paying a bribe. Using the rule of prima facie, even the FACP allows payment of bribes under certain conditions; grease payment, for example are all owed. Thus making both the payment and the admission purely subjective with no clear indication as to who is right or wrong except within the legal provisions of the law. Ethicality of Bribes Looking at bribes from the perspective of Machiavelli (1882), bribes are required to protect the people of the country. This protection takes two forms, first to protect the people from outsiders and second as a power lever against the organization paying the bribe. The solicitor of the bribe gains power over the organization. Power manifested in other demands that, if not met, will result in disclosure of the bribe, a threat that, if made true, would result in prosecution of the one paying the bribe. The one demanding the bribe faces no such fear since the legislation’s power is in prosecuting the payer, not the payee. Looking at bribes from the perspective of Pastin and Hooker (1980), prosecution of the one paying a bribe does very little to address the issue of corruption since the payer is the one subject to legislation. As long as the one demanding the bribe is not subject to prosecution, the request for bribes will not diminish and organizations will simply notShow MoreRelatedCultural Relativism Essay938 Words   |  4 Pagesaims to address several ethical questions, especially regarding Cultural Relativism which typically outlines why values and morals in human communities are deemed appropriate. Further, the paper discusses how cultural relativism is used to justify bribes in Mexico and whether this is ethical or not. Each country may view bribery under different societal conditions and circumstances. In most cases, nations with different cultural backgrounds will posses different ideas about â€Å"bribery† and other customsRead MoreEthical Vs. Legal Business Issues949 Words   |  4 Pagescourse. 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Yet, noRead MoreEthics : Ethics And Ethics1200 Words   |  5 Pageshappiness with wealth and created immorality. Secondly, according to ABCNEWS(2015) â€Å"In a series of overnight busts, authorities arrested high-ranking FIFA officials over allegations of vast racketeering and corruption involving more than $150 million in bribes and kickbacks spanning two decades in soccer’s controversial governing body, law enforcement officials said.† This situation shows that money is driving force to commit immoral and unethical acts. The FIFA officials who are place in charge of theRead MorePerception of Death in the Play â€Å"Everyman Essay1101 Words   |  5 Pagesis terribly feared as no one seemed ready for it, death is perceived as something that takes one away from the pleasures of this world. Everyman is a classic play written in the 15th century whose subject is the struggle of the soul. This is a morality play and a good example of transition play linking liturgical drama and the secular drama that came at the end of English medieval period. In the play, death is perceived as tragic and is intensely feared. The protagonist; Everyman, is a person whoRead MoreEveryman Research Paper1584 Words   |  7 Pagesâ€Å"Everyman† Research Paper COURSE # and TITLE: _ENGL 102: Literature and Composition_ SEMESTER OF ENROLLMENT: _Fall D04-2010_ NAME: _Nathalia Santos_ WRITING STYLE USED: _APA_ Thesis: The English morality play â€Å"Everyman† uses allegorical characters to represent what Everyman holds onto and values during his life. Everyman has neglected his spiritual life, but as the play develops Everyman repents of his sins on time. Summoned by Death, Everyman realizes that he is not ready andRead MoreWhy Be Moral ?804 Words   |  4 Pagesmoral, there is no point in enquiring what is morally good and what is not. This question concerns reasons than causes. Also one must realize that being moral involves self denial. For example a moral person must not take BRIBE, but another person who is not moral and takes bribes may turn out to be in a financially better position. So, moral obligations lead to sacrificing of ones personal interests. So we need to justify the necessity to be moral. There are many reasons which justify being moral

Case Herman Miller free essay sample

They started selling quality furniture, bedrooms and other things made of wood but in 1930 because of the Great depression they started to look for other market and products so the company could survive this economic situation that affect all the US. Because of this they started to fabric modern and office furniture and they became very success. They have sales of $1. 7 billion in 1998, $1. 8 billion in 1999, and $1. 9 billion in 2000. ASAL GmbH and ASAL Products, Inc. German company that have more than 60 years, they specialize in the office furniture business, as Herman Miller Inc. The owner of ASAL GmbH Barnard Stier that is also the president. This company has three stores in the US where they have more than one hundred employees. ASAL GmbH had sales of DM35,000,000 in 1996 and has current sales of DM37,000,000. Problem As we all know the company basically dedicated to manufacture and market their products as you computer keyboards, chairs, desks basically that kind of office supplies. We will write a custom essay sample on Case Herman Miller or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The main problem facing the company Herman Miller is that the german boy named Oliver Asel took a job with ASAL GmbH, after two years, Oliver decidio seek new horizons in America. In the United Unidos Estados Oliver took a job with the office furniture dealer, Office Pabellon South Florida, Inc. This caused the problem that this company with the same spin that Herman Miller offered products with better market affordable price. Faced with the barrier of not being able to export their products to Europe. Thats why they had to create a different distribution channel also exported to other parts of the world. SWOT Strengths: +Their products perfectly fits the new EU health standards financial strength Weaknesses: + Distributors in Europe had their territories as well as ASAL, with their contract to buy the Aeron chairs in the US and sell them in Europe. This turned into a conflict of interests Opportunitys: + Visitors of the audited trade fairs, where often employees, which Rank highly in the company and can therefore introduce the product if convinced + Emphasis sustainability, a matter that gets more and more important and can improve the company’s image, if correctly promoted Threats: Antitrust Law have forced the company to pay fines in the past +technology has become more important, therefore the company has to adjust to keep up with their competitors Problem solution alternatives The international sales manager Vreni Sahli had now to decide what to do about the grey marketing in the German sector. By setting up a contract with the Florida based company from ASAL Products the subsidiary of the US company Herman Miller created a parallel distribution channel. This is used by the German company Herman Asal GmbH to buy the products cheaper than the official distributors in the European area. That creates tension which could be solved by the following possibilities. First, the company should check if it was legal to get into a contract between Gary Kemp, VP Office Pavillon and Oliver. It was clear for both sides that the company Asal Products, Inc. in Florida was just founded to work as a a pass-through organization. Therefore, the VP of Office Pavillon was maybe acting willingly or by accident against the company rules by selling products outside of the own market zone. He sold it within his zone but it was clear that the products would be shipped into another zone and tensions with other distributors would appear. Second, the head management of Herman Miller, Inc. should try to solve this problem in the very short term even by risking to break connections with distributors and customers which would lead to decreased profits in the short term. But in the long term the distribution channels would be clear and without interferences again. Also it would be possible to have a clear marketing direction and therefore planning is possible again in the future without interferences of the different distributors with each others. That would practicably mean that Vreni should decide to get out of the contract of Asal Products, Inc. even when there would be legal problems. Moreover, the business relationships to this company could be worsened in the long run. Another alternative should be to create a plant in Europe so now they don’t have top ay all the taxes they have to pay so they can export their products, in that way they will be able to give better prices to their clients, and they will supposed to have a better service and more quality because they where the pioneers in those products. The last alternative could be to create a better marketing about their products, to compare their brand with the competition so the market can understand that the differences between prices is because of the good quality, the brand name, the knowledge, and that they are the only ones, the expert ones on those kind of products. Finally we think that a great alternative also could be to open a new market, for example if the competitors are taking some of the market that they used to have when they where the only ones, they can create a new market, with new products focus on a market that they will not have some competitors.

Monday, April 20, 2020

The Conflict Between Individual And State And free essay sample

The Grammatical Fiction In Darkness At Noon Essay, Research Paper The Conflict Between the Individual and the State and the Grammatical Fiction in Darkness At Noon # 8220 ; The Party denied the free will of an individual-and at the same clip exacted his willing self-sacrifice. # 8221 ; The obvious contradiction of the above definition of the Communist party is depicts the struggle between the person and the State in Arthur Koestler? s novel Darkness at Noon. Koestler? s supporter Nicolas Salamanovich Rubashov, devout Communist and former leader of the Communist party, falls victim to his ain system during the clip of the Moscow tests. Accused and imprisoned for offenses he did non perpetrate, Rubashov is forced to take between the political orientation he has dependably followed for the past 40 old ages of his life, or a new found sense of ego, which he calls the # 8220 ; grammatical fiction # 8221 ; . During the beginning of Rubashov? s lone captivity, he begins to doubt the infallibility of the Communist government, and for a clip, positions himself independent from the Party. We will write a custom essay sample on The Conflict Between Individual And State And or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Rubashov? s drawing off from Communism is apparent in his conversation with the analyzing magistrate, Ivanov, during his first hearing. Rubashov addresses Ivanov? s collective point of view with the developing positions of his ain: # 8220 ; Your statement is slightly anachronic, # 8221 ; said Rubashov. # 8220 ; As you quite justly remarked, we were accustomed ever to utilize the plural? we? and to avoid every bit far as possible the first individual singular. I have instead lost the wont of this signifier of address ; you stick to it. But who is this? we? in whose name you speak to-day? It needs re-defining. That is the point. # 8221 ; Apart from the Party, Rubashov no longer maps as portion of the Communist unit, but instead as an person. Within communist philosophy the person is merely a piece of a larger system, and for the true Communist the pronoun? I? is non even portion of his or her vocabulary. Rather, the personal? I? is replaced by? we? , which represents the Party. The significance of Rubashov? s statement is that even his address forms, a physical manifestation of one? s subconscious, expose his self-detachment from the Communist Party in that he has lost his ability to tie in with the Communist We. Over and over Rubashov is tormented by the thought # 8220 ; I shall pay # 8221 ; , an unrest due to his uncertainness about the foundation of Communism he has placed himself on. Shortly after his first hearing he writes in his diary # 8220 ; The fact is: I no longer believe in my infallibility. That is why I am lost. # 8221 ; It is apparent that he is get downing to take personal duty for the actions he has committed on behalf of the Party, the people that he has betrayed and the apparently absurd philosophies he has readily submitted to. Both Rubashov? s mental anxiousness, and his discernible, critical actions are owed to his new found acknowledgment of himself as an single, a loophole in Communist philosophy. All his life Rubashov had # 8220 ; burnt the remains of the old unlogical morality from his consciousness # 8221 ; , and was incognizant that thoughts outside of those expressed by the Party had any logical footing. He one time thought that any other position was irrational and false. In his cell waiting to be taken to his executing, Rubashov reflects on his former devotedness to the Party: For in a battle 1 must hold both legs steadfastly planted on the Earth. The Party had taught one how to make it. The space was a politically fishy measure, and the # 8220 ; I # 8221 ; a fishy quality. The Party did non acknowledge its being. The definition of an person was a battalion of one million divided by one million. As a Communist he had sacrificed his individualism for the benefit of the Party, and forty old ages subsequently he had lost the capableness to even believe outside the lines of the Party? s tenet. He had denied the single within himself, which is why he is confused at the outgrowth of his # 8220 ; soundless spouse # 8221 ; , the latitudinarian person within himself. His witting ego had been founded in the? we? , until he was imprisoned. Confronting decease, Rubashov realizes the destructiveness of a political system that doesn? T history for the person. No longer confused by his apathy for the Party, Rubashov? s concluding hours are marked by a fatalistic mentality and an internal sense of peace. In Rubashov? s conversation with Ivanov during Rubashov? s 2nd hearing, Ivanov states: # 8220 ; The greatest temptaion for the like of us is: to abdicate force, to atone, to do peace with oneself # 8221 ; . Ivanov represents rubashov? s former point of view. However, no longer capable to the inhibitory Communist order, Rubashov does happen rapprochement with himself: He was a adult male who had lost his shadow, released from every bond. He followed every idea to its last decision and acted in conformity with it to the really terminal. The hours which remained to him belonged to the soundless spouse, whose kingdom started merely where logical idea ended. He had christened it the? grammatical fiction? with that sheepishness about the first individual singular which the Party had inculcated in its adherents. At this point Rubashov rests. The inner convulsion he had from being torn between two avenues of idea had ceased. He has realized the futility of the Party? s actions, and in his ain manner repented of those actions by disassociating himself from the Party. Although the Party had basically banished Rubashov foremost, Rubashov? s struggle had resulted from his mental trueness for the System to which he fell victim. Having lost his religion in Communism, Rubashov devotes the staying portion of his life to the # 8220 ; grammatical fiction # 8221 ; , and finds contentment. Rubashov is no longer afraid of decease because decease is at hand, and non even the most logical idea or powerful dictator can change the natural jurisprudence of decease. After digesting emotional and mental torture, he realizes he has # 8220 ; earned the right to kip # 8221 ; and decease peacefully. Rubashov? s experiences in prison altered his position of the Communist system and upturned the religion he had for it. The thought that a philosophy in which the person is non accounted for becomes an absurdness. The visual aspect of the grammatical fiction in Rubashov? s instance, is representative of the larger struggle between the person and the State. Rubashov? s experience is a microcosm of the people who suppressed their ain single idea and ground for that of the Party and Stalinist absolutism. The thought expressed by Koestler in Darkness at Noon is that the Communist system? s ultimate failure lies within its thought that the person is a # 8220 ; sacrificial lamb # 8221 ; for the Party. Alternatively, it is the person that is the indispensable factor in doing a society. An single can last without a authorities, but a authorities can non last without the support of the person, and it is for this ground that no signifier of Communism has of all time reached the Utopian extremum in which Marx and Engles expressed in The Manifesto of the Communist Party. 3ba

Sunday, March 15, 2020

The differences between ADD and ADHD essays

The differences between ADD and ADHD essays In 1905, a German physician named Herinrich Hoffman, who wrote the tale Struwel Peter about a child with ADHD. Impulsivity and inattention are more likely to have serious problems at home and at school. (Baren, M. 1994) There are two types of Attention Disorders. The first type of disorder is Attention Deficit Disorder and the second type is Attention Deficit Hyperactivity Disorder. ADD is a neurobiological disorder. Researchers believed that chemicals in the brain that may be not working properly cause the symptoms of ADD. The two most common characteristics in teenagers with ADD are inattentive and implusive at times. Although all children may be inattentive or implusive at times, those with add have them more frequently. In addition, to there impulsivity and inattention are more likely to have problems at home and school. Another characterics with this disorder is that the children will become underachievers in school. (Quinn, P. 1997) The second type of ADHD is also a Nero chemical disorder that is genetically transmitted. Poor parenting, lack of motivation, character weakness, stupidity, or even psychological problem, does not cause this disorder. This disorder generally affects three areas of people behaviors. Those three areas are attention, impulsivity, and even hyperactivity. Researchers studies show 30 to 70 percent of children have been diagnosed with ADHD will continue to have them well into their adult life. Sometimes this disorder is not discovered until the early teen years. This is often true to those individuals with attention decifit disorder who do exhibit overactivity or behavior problems. (Hallowell, E. 1994) The accurate diagnosis of ADHD obtained through evaluations and parent-child interviews. There are no laboratory measures to perform such as blood or urine screens. It is essential to measure ADHD correctly because of the other problems such as bipolar disorder, anxiety, or even dep...

Friday, February 28, 2020

Discussion# 1 Assignment Example | Topics and Well Written Essays - 250 words

Discussion# 1 - Assignment Example ce entails integrating individual clinical expertise with the best available external clinical evidence from systematic research (Sackett et al, 2010). Essentially, the evidence based medicine requires that each clinician upholds their duty to stay in touch with the research literature and to implement best practice as a part of all clinical decision making (Sackett et al, 2010). The critiques of sackett defination of evidence based practice argue that Systematic research is the best quality research but it is not always available. For instance, the Nursing care, particularly in mental health, remains under researched. In addition, they argue that Patients should be involved in decisions about their care. Therefore, they say that Muir Gray definition on evidence based health care is the based. He defined it as an approach to decision making in which the clinician uses the best evidence available, in consultation with the patient, to decide upon the option which suits the patient (Muir, 2009). In my opinion, these definitions stress on facilitating decisions about assessment and intervention that are deemed effective and efficient for a given direct stakeholder On the other hand, the American Psychological Association defines EBP as the integration of the best available research with clinical expertise in the context of patient characteristics, culture and preferences (Gambrills, 2011).  Finally, another definition advanced by Schlosser and Raghavendra suggest that EBP is the integration of best and current research evidence with clinical expertise and relevant stakeholder perspectives (Schlosser, & Raghavendra, 2010). Notably, all the definitions stress three bases, which are the research evidence, educational expertise, and relevant stakeholder perspectives that are relevant and need to be integrated through the EBP process. Gambrills, E.   (2010).  Evidence-based practice: Implications for knowledge development and use in social work.   In A. Rosen & E.

Tuesday, February 11, 2020

Based Occupational Therapy for Adolescent Children Research Proposal

Based Occupational Therapy for Adolescent Children - Research Proposal Example Some agencies are starting to get involve in the public information campaign on various drug prevention and control programs whereby it adheres to the idea of using social influence and role playing to discourage adolescents from starting drug use and encourage them to refuse drugs in the future and consequently improve children's social health status. Historically, human infants are born without any culture. There must be transformation by their parents, teachers, and others into cultural and socially proficiently animals. The overall process of acquiring culture is referred to as socialization. During socialization, people learn the language of the culture they are born into, so as the roles they are to play in life. For instance, girls learn how to be daughters, wives, sisters, friends, and mothers. In addition, they learn about the occupational roles that their society has in store for them. People also learn and usually adopt culture's norms through the socialization process. Norms are the conceptions of appropriate and expected behavior that are held by most members of the society. While socialization refers to the general process of acquiring culture, anthropologists use the term enculturation during the socialization process to a particular culture. Early childhood is the period of the most intense and the most critical so cialization. It is then that we acquire language and learn the fundamentals of our culture. It is also when much of one's personality takes shape. But, note that if one continue to be socialized throughout lifetime. As people age, we enter new statuses and need to learn the appropriate roles for them. We also have experiences that teach us lessons and potentially lead us to alter our expectations, beliefs, and personality. For instance, the unpleasant experience of being raped would tend to cause a woman to be distrustful of others. According to Stoffel and Moyers (2004), individuals with problem on substance abuse are often referred to occupational therapy with the help of professional that deals more on self care, productivity through purposeful activities to help achieve the client's full recovery. Occupational therapy is a therapeutic activity or workshop that provides real life experiences to enhance individual's personality uplift self and has a meaningful life by means of rehabilitation. The major role of occupational therapists is to help the client become a successful member of the society again by allowing individual to develop a healthy lifestyle and participate in therapeutic activities (Gerrie ter Haar and James J. Busuttil 2005). Gordon (2003) stated that individual should change old habits by learning new skills and living a balance life that changes addictive behaviors to positive lifestyle, which uniquely outfitted to occupational therapy. Occupational therapy teaches skills to establish individual's role in the community. The purpose is to help individual balance responsibilities through learning effective coping strategies can communicate effectively and can be able adjust to stressful