Analysis on Teenage Pregnancy in the UK The WritePass Journal

Analysis on Teenage Pregnancy in the UK Introduction Analysis on Teenage Pregnancy in the UK IntroductionStatisticsSex EducationSexual attitudes among young peopleWelfare benefitsSocial-economic deprivationLack of StigmaLone parenthoodOut of wedlock birthsDivorceWorking mothersConclusionRelated Introduction Teenage pregnancy is a major concern in the UK, and for the last 20 years it has the highest rates in the European Union; other countries with similar rates are New Zealand and Australia (Maticka, 2001 p. 15). The UK is found to have the highest live birth rates among people with the age of 15-19 in Western Europe. It is estimated that even the most prosperous zones in the UK surpasses Netherlands and France in national rates of teenage pregnancy. Between the 1970s and 1980s, there was a record decline with the rates in many European countries. However, these rates did not go down in UK in the period 1979 and 1999 (SEU, 1999), while conception among under 16-olds rose by 1% between 2002 and 2003 (Office of National Statistics, 2005). The common factors found to influence high levels of teenage pregnancy includes but not limited to: Social economic status especially income distribution across societies, gender equality levels within the societies, the availability of sex education and prevention strategies at schools, access to sexual heath services that meets the needs of teenage persons, normalized expectation of continued education beyond the age of 16, Exposure to unhealthy media materials amongst others. In the year 2000 alone, 38,690 under the age of 18 years got pregnant in England. 44.8% of these underwent legal abortion as the conceptions were not planned for. Surprisingly, 7,617 of the total conceptions involved girls under the age of 16 years out of which 54.5% ended in legal abortion (Office for National Statistics, 2000). Many factors influence teenagers choices to become sexually active and to use contraception considering their ability to obtain them and make use of contraception their choice. These factorsoperate are exercised at individual’s level (e.g. attitudesand beliefs, knowledge, substance abuse and future expectations), the intra-familiallevel (e.g., social economic factors, family structure, parent–child communication), the extra-familial level (e.g., health services, peer influences,sexual health education at school) and thecommunity level (e.g., values and norms relating to teenage pregnancy).Most of these factors can be changed with time and within respective social institutions individualknow-how concerning sexual health, while others are difficult to change or cannot be changed at all. In most cases, physician groups are left the role to lobby for policy initiatives aimedat changing sexual risky trends among teenagers which includes;enhanced sexual education at schools. However, the important rolefor physicians is to offer suitable sexual health informationand services in their practices when they are providing clinicalservices to youths (Botting, 1998 p. 21). It is necessary that physicians be familiar with the realityof teenage sexual activity. Conducted studies have indicated that, by completion of high school, the majority of teenagers will have had sexualintercourse (Maticka, 2001 p. 3) and approximately 10% have had intercourse beforeage 15. It is therefore much important to include as part of the general enquiry into their well-being, their sexual activity too,use of contraception and condoms, their history of sexually transmittedinfections and pregnancy. There is need to acquire information abouttheir other sexual health concerns. Adolescents are not necess arily the ones to initiate discussions about sexual healthissues, since to them the process of seeking sexual health advice is a complicatedone, and therefore physicians must be proactive in making suchan enquiry. When contraception, including emergency contraception, is indicatedfor teenagers, it should be provided. Like other women, adolescentsalso have a right to abortion services, although the availabilityof such services is not uniform across the country, and teenagedgirls of low socioeconomic status or from visible minoritieshave particularly limited access. Teenagers have the rightto confidential health care, including receiving sexual healthservices, provided their emotional and cognitive maturity allowfor this. Their parents do not have an automatic right to know.The right to confidentiality is not always understood by teenagersand should be appropriately communicated during patient encounters.Finally, when teenagers choose to continue their pregnancy toterm, exemplary care should be provided before, during and afterdelivery, to help minimize the risk of negative outcomes thatmay occur. Lack of consensus on ways of counterchecking pregnancy problem and sexually transmitted infections (STIs) in respect to teenagers is one of the factors contributing the high rates of teenage pregnancies in the UK. There are no proper installed structures advocating favorable comprehensive sex and its related education. Low expectations in education which is greatly attributed by the perception that there are few or no employment opportunities lead to teenagers absconding education, engaging in unplanned sex due to exposure in their neighborhoods and subsequent pregnancy (BBC NEWS, Friday, 27 May 2005). Ignorance about the use of contraceptives despite their availability often leads to unplanned conception. Although most of the teenage girls are well conversant with the importance of condom use, a large number would go on and engage in sexual activity hoping the worst does not happen. The youth have been found to be inefficient users of contraceptives even when they are offered for free (BBC NEWS, Friday, 27 May 2005). One Jan Barlow was quoted by BBC attributing three factors that help alleviate teenage pregnancy and STI rate as being: better access to young people friendly services, comprehensive sex and relationship education, and offering more open attitudes to sex aimed at influencing young people in making sound decisions (BBC NEWS, Friday, 27 May 2005). The England government for instance had advocated for sex education training but the school authorities are only focused at teaching other subjects. According to him, Sex and relationship that lacks in school curriculum ought to be made a compulsory unit in personal social health education studies. A study conducted for the NHS at the University of York concludes that education prior to sexual activity makes individuals delay in having sex and makes them more likely to use contraception when they do. However, sex education offered in schools is criticized as being too biological and in-adequate to arm the youths with the relevant sex information (Barlow, 2005 May 27). Teenage girls and boys are misguided approach from TV programs relating sex with celebrities and portraying it as a fashioned activity. It is noted that teenagers particularly those not participating in co curricular activities are likely to spend most of their time watching romantic programs. The media sets them adrift in the sexualized society without giving them the tools to look after themselves. The outcome is indirect influence when the affected youth fail to differentiate action scenes from real life (BBC NEWS, Friday, 27 May 2005). Teenage pregnancy comes handy with various complications. The adverse effects include miscarriage, premature births, babies are born underweight for gestational age whereas others are born small (Horgan, 2007). Teenage mothers are also found to have higher risks of contracting STIs, being victims of alcohol and substance abuse, smoking and poor nutrition in addition to suffering higher rates of postnatal depression (Horgan, 2007). Gynecological immaturity in teenage mothers is one of the reasons attributed to the adverse effects following births. Adolescent girls continue to grow when pregnant. The babies they carry faces food and nutrients competition required for their growth with the growing bodies of their mothers. There is also increased risk of obstructed labor during birth because of their undeveloped small pelvises (Horgan, 2007). These effects are adverse and their effects are prone to have a long term effects therefore preventive measures are by the far advisable measures. Family planning and sexual health clinics should be easy to access amongst these women and facilitated with a wide range of the relevant services, including diet advice, cessation on smoking behavior and embarking back to studies after birth. As a matter of fact, they should be encouraged to attend antenatal classes and care which should offer them medical care as well as social support. It is believed that postnatal management for teenage mothers is placed better in offering essential counseling and education on crucial aspects of motherhood such as breastfeeding and nutrition for babies. As many teenage mothers tend to be single and often feel isolated in bringing up their babies, they require special attention from the health and social services (Horgan, 2007). An Obstetrician and Gynecologist; Louse Kenny working at Cork University Maternity Hospital attributes that the figures indicates that death rate for babies from very young mothers is 60% more higher than those from the older women. Further, teenage mothers are more likely to be faced with postnatal depression as compared with their counterparts-the older women. Some 44% of mothers under the age of 20 breastfeed compared to 64% amongst 20-24 and up to 80% in older mothers. There is a need therefore to conduct further studies to ascertain whether the poor outcome from teenage mother births is entirely a link with biological challenges resulting from their bodies not being fully developed; or it is a combination of other factors such as social demographic factors (Horgan, 2007). Teenage mother are at risk of indulging with malpractices that poses unconducive environment to their newborns like smoking due to the associated stress and their vulnerability to peer pressures. At their age, they are not entirely dependent in making sound decisions, a reason why close attention should be directed to them to safeguard their heath and that of the newborns. Awareness towards the dangers associated with smoking for instance is paramount to them, risks of contracting sexually transmitted infections and the need to use contraception in future sexual activities (Horgan, 2007). There is challenge presented by teenage mothers toward heath workers. Most stay for a long time before presenting themselves to health facilities for diagnosis, only to avail themselves at the late stages in the pregnancy. They thus fail to receive timely attention to any possible presenting risk and guidance on how to take care to ensure healthy newborns and safe delivery. Both the teenage mother and the child are prone to undergo negative short term, medium and long term health and mental health outcomes that are as a result of unprepared ness in the encounter and dilapidated exposed conditions thereafter (Botting et al., 1998). The mother’s education and future employment may be brought to prejudice. There is more likelihood of teenage mothers running into trouble in school before getting pregnant and possible failure to complete studies after delivery. As a result, they may not be having academic qualifications at the age of 33, a situation that renders them find difficulty in looking for a job or subject to low payments and poor benefits as opposed to their peers (SEU, 1999). An estimated 80% of teenage mothers do not own their own housing arrangements. They are either housed by their parents, relatives or others sponsors who are added an extra burden towards meeting additional expenses. This is more likely to result into domestic conflict in addition to failure to provide the desired space environment for both the mother and the child which may the related cost may not be within reach (SEU, 1999). Young fathers also face similar difficulties although their extent isles severe compared to that of young mothers. They are however faced with similar economic and employment outcomes in their post parenthood (Kiernan, 1995). Children of teenage mothers are more likely to have the experience of being lonely in the family. They are further faced by generalized risks of poverty, poor housing, and poor nutrition and consequently face inadequate upbringing standards. Evidence shows that daughters of teenage mothers are likely to become teenage parents themselves (Botting et al., 1998). It is thus noted that having children at a young age can damage a young woman’s health and well-being. Her education and career prospects are severely affected too. While young people can become competent parents, a variety of studies reveal that children born of teenagers are more likely to experience a wide range of negative outcomes later in life. They are also three times more likely to become teenage parents themselves (Hughes, 2010). As a matter of fact, at the age of 30, teenage mothers are 22% more likely to be living in poverty than mothers giving birth at the age of 24 years and above. They are less likely to be employed or be living with a partner (Hughes, 2010). Teenage mothers are less likely to have academic qualifications at the age of thirty as compared to mothers who get children after having attained the age of 24 years. Due to their vulnerable condition, they are more likely to partner with men who are poorly qualified and less likely to secure employment (Hughes, 2010). Statistics have shown that teenage mothers have three times the rate of post natal depression compared to older mothers and at higher risk of poor mental health for at least three years after birth. In addition, the infant mortality rate for babies born to teenage mothers is 60% higher than for babies born to old mothers. Compared to older mothers, they are likely to smoke throughout their pregnancy while 50% are found not to breastfeed both which poses negative health consequences to the child (Hughes, 2010). Children born of teenage mothers have approximate 63% increased risk of being born into poverty compared to babies born to mothers at their twenties. They have higher mortality rates and are more likely to have accidents and behavioral problems (Hughes, 2010). Owing to the increased the increased teenage pregnancy as a social problem in the UK, policy makers, politicians and health educators have been borrowing measures applied in Netherlands to alleviate the situations. These measures are selected on the merit of their suitability. Statistics In 2000, the birth rate to young women with the age of 15-19 was 37.7 in every 1000 in England and Wales Compared to 5, 5 in every 1000 in Netherlands. On the other hand, the conception rates were four times higher at 62.2% per 1000 compared with 14.1 % in every 1000 in the Netherlands. (Figure insert) Sex Education Sex education in schools is greatly attributed to the reduced teenage pregnancy occurrences in many countries where it if effectively applied. This hypothesis have been assumed and highly promoted in the media by birth control and abortion lobbies and without the support of the research evidence. In the UK; Sex education has been politicized in many educational centers and political leaders too. The UK parents are not free to set up their own publicly fund schools independent of the state according to their own beliefs and values where there is a high degree of autonomy in terms of curriculum development and policy making. UK lacks diversity in didactics, pedagogical strategies and content and influences of the churches and the involvement of parents are not much stronger. As a result, sex education has nut impacted a lot towards reducing teenage pregnancy (LDM, 2003). It is found that: Sex education is not open as it is often suggested though it is often taught within a firm moral framework. The most liberal and open classes were found in the more social and economically derived areas where teenagers were already more sexually active and teachers felt there was little they could do to compensate for family structures that were inadequate to guide streetwise young people in the increasing sexual culture. Of the teachers interviewed, none was comfortable with the idea of opening up open classes for sex education curriculum which would entail sexually explicit materials. The schools where the sexual activity was less a problem were not on the welcome of sex education but were positive on building on the moral frame work provided by parents within stable family structures Further evidence has exposed sex education as not being that permissive as it is often perceived. A considerable figure of sexual health experts are critical of traditional views of sexual morality widely held among teachers and parents. The experts are concerned that an emphasis on setting the expression of sexual morality firmly within the context of committed enduring relationships is too restrictive when teenagers may want to experiment which sexual activity (LDM, 2003). There lacks evidence to support the ascertain that the teenage pregnancy rate has been reduced by easy availability of contraception to the young people in what is described as an almost imperfect contraceptive population where condom use rose among the sexually active from 17% in 1981 to 85% in1994 (Ketting, 1994). There is no corresponding relationship found in the reduction rates of either teenage pregnancies or abortions whereas there are early signs of an overall rise in the rate of sexually transmitted infection (STIs) occurrences: in particular, Chlamydia which affects the young people disproportionately (Van der Laar, 2002). More findings show that during the 1990s, the abortion rate rose despite a wide increase in contraceptive use (CBS, 2000). It therefore cannot be attributed that the decline trend of teenage pregnancy is a result if sex education, open culture and contraception use rather a combination of factors not related to the above. Since teenage pregnancy is a result of teenage sex, then it goes hand in hand that a society that has more of one of the two is going to experience more of the other. It is thus necessary to consider factors that are known to influence the age at which young people starts sexual relationships (LDM, 2003). Sexual attitudes among young people Casual attitude to physical relationship is ever growing. However, the UK teenagers appear not to be guided by moral principles to a large extent than their counterparts in for example the Middle East that abstain from sexual intercourse until a much later age. A comparative study of sexual attitude among teenagers found that a majority of both males and females in Netherlands for instance gave love a commitment as their primary reason for first intercourse. Physical opportunity and attraction and peer pressure are not leading factors to sex in Netherlands. In UK however, while love and commitment have high ranking in girls, boys are found to be more influenced by peer pressure, opportunity and physical attraction (LDM, 2003). From the perspective of young people in such circumstances, early parenthood can appear a rational choice, providing a means for making their transition to adulthood or having somebody to love in their lives. Welfare benefits A welfare benefit is another factor that makes teenage pregnancy level to be high in the UK. The teenage parents receive income financial support from the government when they are less than 18 years and do not have to depend on their parents. The babies born are put under the care of a legal guardian who happens to be the parent of the teenage mother in most circumstances. The legal guardian becomes the receivership of the governments support allowing their mothers to continue with schooling. In addition to this, the teenage parents enjoy housing benefits, educational opportunities, employment training and free medical care. With the provision of all these, a disincentive to engage in irresponsible sexual behavior lacks (LDM, 2003). Social-economic deprivation Teenage pregnancy is strongly associated with the most deprived and socially excluded young people. Difficulties in young peoples’ lives such as poor family relationships, low esteem and unhappiness at school also put them at higher risk. It is in record that acute levels of social economic deprivations are associated with high frequency of teenage sex activities and associated risks behavior. The concentration of areas with magnificent levels of poverty and social inequality in some areas of the UK has lead to the emergent of a desperate culture in which there is only little to lose in early parenting. The loss is further reduced from compensations of social welfare benefits that alleviate the costs of living and upkeep. An income support and housing allowance for instance makes the cost of having a baby not too much (LDM, 2003). Lack of Stigma In recent years, teenage pregnancy relatively lacks stigmatization in the UK. Stigmatization is known to discourage undesirable habits where the involved persons are subjected to humiliation in the past. Social services makes it hard for one to access most services, people disregard one making him/her always indebted. Lack of stigma associated with pregnancy in the UK is a major contributory factor to higher teenage pregnancy rates (LDM, 2003). There are also some communities in which early parenthood is seen as normal and not a concern. Lone parenthood In the year 2000, single parents in Great Britain accounted for 21% of all families that had children. Children in Britain are more likely to be raised by a lone parent as compared with other European countries. A study of over 2000 young people in England aged 13-15 years found that in families headed by married couple, only 13% of the children were sexually active. The number doubled for young people living within single families. The figure was 24% for the children of cohabiting couples, 26% where the children had separated, 23% where the children divided their time between two parents living apart, 24% where the parents were divorced and 35% where the children did not live with either of the parents (Hill, 2000). Evidence is therefore placed in increase of teenage sexual activity in lone parenting or no parenting at all. Great Britain having single parent’s levels of 21% (in relation to year 2000) inclines that the sexually active youths are very many. Out of wedlock births In western Europe, children are more likely to be born to an unmarried mother. Children born in this context are prone to be raised in poorer environments where sexual activeness is high. Daughters from single mother are also likely to bear children out of wedlock during their teenage years. Divorce In the year 2000, 12.7 in every 1000 married men obtained a divorce in England and Wales. Children in Britain are more likely to have experienced the divorce of their parents. This is important considering that people not living with both biological parents are more sexually active in their early ages than those from intact families. Other factors like race, religion, age and social class are closely based from a family setup (Demo, 1998). Working mothers The UK had 18.3% of mothers with children under the age of five employed full time in the year 2000. The figure was higher for mothers with children aged between five and eight years with 31.9%. Europe, 75% of the population believes that women should contribute to the family income (Schulze, 1999). In the year 1999, UK had approximate 35% of the mothers of pre school children using some form of daycare and approximate 27% of mothers of children aged between 5 -12 using some form of out-of-school care (SCP, 2000). This finding suggests that many children in Britain are left under the care of a third party having no one at home. Once out of school, they have low levels of parental supervision and are more likely to indulge in reckless behaviors, premature sex included. Conclusion Teenage pregnancy poses a societal problem in the UK with the statistics of cases recorded alarming. Teenage pregnancy is caused by a wide range of factors surrounding young people. However, parenting and social economic issues are the major categories that contribute towards the high levels of teenage pregnancy. Due to the adverse effects experienced by the young mothers some of which are long term, it is vital that collective measures that best suit the phenomenon are adopted. By doing this, many teenagers will be saved the misery of upbringing children while being disadvantaged by numerous factors discussed.

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A report commissioned by the former Howard government recommended a domestic carbon emission scheme emphasizing that Australia should have an active role in developing a global carbon emissions trading scheme. The Rudd government aims to introduce a carbon trading system by 2011 and reduce emissions by 5% by 2020 (from 2000 levels). Interest Rates Interest rate is defined as the percentage rate per annum that a borrower pays to the lender or the cash rate which is the rate charged on overnight loans between the financial intermediaries. Interest rate has a negative effect on the money demand as shown below. Australia is a price-taker in global capital markets, so the Australian interest rates move with the global financial market trends. Interest rates are generally higher in Australia and New Zealand compared to the international standards largely due to strong fiscal policies relative to other developed countries (Kirchner, 2007, p. 11-15). In Australia, the Reserve Bank (RBA) determines the interest rate. It does so by changing the amount of money supplied, in other words by altering the equilibrium quantity of money supplied and money demanded. Australias interest rate is currently at 4.0 percent according to the data published by the Trading Economics in March 2010. Table 1. As at 31.03.2010, Australia has the highest interest rate amongst developed countries. The Reserve Bank of Australia 4% Bank of Canada 0.25% Bank of England 0.5% Bank of Japan 0.1% European Central Bank 1% Federal Reserve 0.25% Swiss National Bank 0.25% Source: http://www.fxstreet.com/fundamental/interest-rates-table/ Figure 3. A graphical demonstration of the effect of change in money supply on the interest rate. Source: Source: (Liu, EC 5103 supplementary notes, 2009) Figure 4. Australias Interest Rate- Period 2000-2010 Source: http://www.tradingeconomics.com/Economics/Unemploymentrate.aspx?Symbol=AUD#ixzz0i0ejiErm Unemployment rate Unemployment rate refers to the % labour force that are unemployed and actively pursuing a job. The unemployment rate is negatively related to the real GDP i.e. falling GDP results in an increase in unemployment and vice versa. As at January 2010 based on data published by Trading Economics the unemployment rate is 5.30 percent. Figure 5. Australia unemployment rate Source: http://www.tradingeconomics.com/Economics/Unemploymentrate.aspx?Symbol=AUD#ixzz0i0ejiErm Inflation rate Inflation rate refers to the % rate of increase in the average level of prices measured against a standard level of purchasing in the economy. According to the latest figures published by the Trading Economics the Inflation rate was 2.10 percent in December 2009. Inflation rate is best reflected in the CPI or the GDP deflator. Figure 6. Australia Inflation rate based on CPI- Period 2008-2010 Source: http://www.tradingeconomics.com/Economics/InflationCPI.aspx?Symbol=AUD#ixzz0i0eRh6VH Consumer Credit One of the major contributing factors that led to the recent Global Financial Crisis was the lack of regulation with relation to consumer credit originating in the United States. Money for institutions to borrow and lend was easily accessible which eventuated in sub-prime mortgages and what has come to be known as NINJA loans (No Income No Job or Assets). This toxic debt was then sold globally through various hedge funds. Although affected by the rest of the world through the freezing of credit markets, Australia has managed to remain in relatively stable position in comparison to the rest of the major economies. This, in part, can be attributed to the regulations enforced through the Consumer Credit Code (Appendix 1). Constant reviews and amendments of macroeconomic policy in relation to consumer credit regulation have contributed to Australias robust financial system in comparison to the majority of other developed nations  [1]  . Gold and Foreign Currency reserves The Reserve bank of Australia (RBA) has the responsibility of owning and managing the foreign currency and reserves for Australia  [2]  . On average, countries hold 10 per cent of their reserves in gold, although the proportion varies widely from one country to another. The Reserve Bank of Australia holds just 80 tones of gold, or 6 per cent of its total foreign reserves. The bank sold down its gold holdings in 1997 and its reserves are now largely held in US Treasuries and other government bonds. The reserves are used, when required, to keep the Australian dollar steady in times of volatility. (Bourlioufas,N. 2008). Several reasons exist for the reduction in gold holdings for Australia such as: Lack of income that it produces The cost of storage/security Inability to put value behind the Australian Dollar. Appendix 2 displays the RBAs current reserve holdings for 2009/2010. The amounts are displayed in Australian dollars and are subject to movement based on current exchange rates. Taxation (GST) One of the many aspects in taxation is the Goods and Services Tax (GST), which is a value added tax on the supply of goods and services in Australia. Until the introduction of the GST, Australia operated a Wholesale Sales Tax (WST), which imposed a tax on wholesale of goods. The GST was introduced to bridge the unfair tax gaps between service based businesses and suppliers of goods (GST Australia, 2009). In Australia the GST is levied at a flat 10%, which is collected from the buyer, which shifts the demand curve downward by the size of the tax, which effectively means both buyers and sellers share the burden of the tax (Mankiw, 2008). National income and output Measures of national income and output are used as an estimate of total economic activity by including Gross domestic profit, gross national product, and net national income. Each of these aspects is in relation with the total amount of goods and services within a country. The National income and output values are of importance for a variety of users such as the Reserve bank, academics, and private as well as the Australian government to allow the government to make interventions into the economy based off current and accurate information, as well. (Australia Bureau of Statistics, 2008) Macroeconomic Policies in Australia The goals of economic policy makers are: Maintaining real GDP growth constant and positive Maintaining unemployment rate low Minimising inflation The most important contributor to the economic growth is aggregate demand (effecting GDP). Both monetary and fiscal policies effect aggregate demand. How is this game being played? Should RBA consider a looser fiscal policy when determining interest rates? Or should the government consider the possibility of a rate cut when deciding on fiscal stimulus? Aggregate Demand (AD= C+I+G+NX) is effected by factors such as: Capital investment boom Rise/fall of exchange rate Consumer boom in a country that Australia has trade agreement with A boom in housing market A share price slump Unexpected cut/rise in interest rate Monetary policy Monetary Policy through the effect of the exchange rate influences the economy. Exchange rates also influence the inflation which in turn affects the trade (export and import). Exchange rates are influenced by factors such as commodity prices and interest rates. This reiterates how the determinants of macroeconomics are intertwined. Monetary policy is set by the Reserve Bank of Australia (RBA) to influence the supply (availability) of money and credit within the economy in an effort to stimulate growth and stabilise the financial system. Monetary policy influences the interest rates through purchasing and selling of government bonds. When RBA purchases government bonds to increase liquidity, it results a lower interest rate and lower unemployment. During the periods of high inflation, RBA sells government bonds resulting in an increase in interest rates. Effects of monetary policies are: In short term, a tight monetary policy results in a decrease in the prices of Goods and Services as well as higher disposable incomes hence an increase in the households demands. In long term, household demands decrease due to reduced income and increased unemployment. Reserve Bank Act 1959 establishes the objectives of the monetary policies  [3]  . Fiscal Policy: Fiscal policy targets both consumption and capital spending. It influences economic activities through government budget. The budget is announced yearly in May stating the government Revenue (T) and Expenditure (G). By varying the amount of spending, a fiscal policy may achieve one of the following: Fiscal surplus- when G Fiscal deficit- when T Balanced budget- when T=G When government wishes to stimulate economic growth, it applies an expansionary fiscal policy through increase in government spending and tax cuts which in turn increase consumption and investment. On the contrary, if government decides to slow down the economy, it applies a contractionary fiscal policy. Global Financial Crisis and Australias Response Deteriorating housing market in the US was the trigger to the onset of GFC in the world. Banks tightened lending policies; credit became more expensive and this led to a restrained aggregate demand resulting in weakness in world economic activity. The policies of governments around the world in response to GFC were aimed to address these weaknesses. Since the onset of GFC in 2007 Australia has responded by conducting monetary and fiscal policies. Both Short term and long term implications of these policies have to be considered to determine their effectiveness Analysis of Australias Monetary Policy in response to GFC During the GFC, expansionary monetary policies were implemented in Australia in response to the contraction in aggregate demand. RBA increased liquidity through multiple purchases of government bonds resulting in a decrease in interest rate through shifting the LM curve down and IS curve left. Figure 7. Shifts in LM and IS curve reflecting on the interest rate Source: http://www.rba.gov.au/econ-compet/2009/pdf/second-prize.pdf The lower interest rate led to a decrease in cost of borrowing which resulted in lower incentive for saving and ultimately led to an increase in consumption which resulted in the aggregate demand curve to shift to the right (figure 8). Figure 8. Expansionary Monetary Policy and its effect on Aggregate Demand Source: http://www.wcc.hawaii.edu/facstaff/briggsp/Macroeconomics/Chap_34_MonetaryFiscal.pdf Analysis of Australias Fiscal Policy in response to GFC The $42 billion economic stimulus plan of Rudd government between December 2008 and February 2009was intended to stimulate aggregate demand (Treasury, 2009). The focus of this package was mostly on investment in infrastructure which was predicted to have a larger effect on the economy in long run than in short run (Australian Government, 2010). It also provided incentives to housing as well as cash bonuses to stimulate consumption in short run. The inherent weakness of such cash bonuses is where people save their bonuses instead of spending it. Figures published by ABS demonstrate that immediately after the stimulus payments were made, there was a massive hit on spending by Australians households but this slowed down after 3 months (Insider retailing, 2010). According to the latest figures published by Trading Economics on 03.03.2010 and ABS, Australias economy grew at the fastest pace in the last quarter in almost 2 years. Table 2 demonstrates some of these figures published in this report. Table2: Australias economic figures March 2010. Percent Increase/Decrease % Comparison Period GDP à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ 0.9 Last Quarter Growth à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ 2.7 Last Year Current Account à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ 19 to $17,459 b at December 2009 September 2009 Machinery Equipment spending à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ 10.9 Last Quarter Households spending à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ1.8 Last Quarter Unemployment rate à ¢Ã¢â‚¬  Ã¢â‚¬Å" to 5.3 Last 11 months Australian Dollar à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ against $US and  £ British 25 year high against  £ British Interest rate à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ by 0.25 Source: http://www.tradingeconomics.com/Economics/GDPGrowth.aspx?Symbol=AUD#ixzz0i0diuCw6 Also http://abs.gov.au/AUSSTATS/[emailprotected]/mf/5302.0/ Economists believe that the underlying reason for Australias Economic performance is Rudds Government stimulus package as well as increase in export however the widened account deficit of 19% in December 2009 figures is mainly due to an increase in imports. One of the consequences of this is expected to be a 1.3% decrease in Australias GDP therefore the recovery period is going to be weak (Market watch, 2010). Figure 9.Effect of fiscal stimulus on real GDP (forecasts from May 2009 Budget) Source: http://www.treasury.gov.au/documents/1686/HTML/docshell.asp?URL=Australian_Business_Economists_Annual_Forecasting_Conf_2009.htm The unemployment rate has dropped by 5.3% and the number of people employed has increased by 52700. This will put more pressure on RBA to increase interest (The Australian, n.d). Figure10. Effect of fiscal stimulus on the unemployment rate (forecasts from May 2009 Budget) Source: http://www.treasury.gov.au/documents/1686/HTML/docshell.asp?URL=Australian_Business_Economists_Annual_Forecasting Treasury secretary Ken Henry warns of the adverse shocks to financial markets despite the fact that GFC seems to have passed. Further more he explains that fiscal circumstances improve as the economy strengthens. As the economy strengthens, other things being equal, there is increasing upward pressure on prices and monetary responses to that (The Australian, n.d). In his book The Great Crash of 2008, the economic advisor Ross Garnaut, warns Kevin Rudd of hard times ahead in terms of lower living standards and economic wellbeing as a result of stimulus response to GFC (The Australian, October2009). Garnauts point of view is also shared by many other economists who consider the stimulus package a dangerous revival of a discredited Keynesianism which focuses on the short term aggregate spending as the source of growth in the economy. Some point out that fiscal policies result in an interest rate rise which has a crowding out effect on the expansion due to export and import. Hence they argue the ineffectiveness of Australias fiscal policy. The supporters of Stimulus package on the other hand argue that the spending avoided further economic contraction at the right time boosting consumers and businesss confidence and hence avoiding a recession. They also argue back with regards to trade issue pointed above, in the sense that Australias trade share is 47% of GDP which is less than the 60% quoted in previous studies as a benchmark of ineffectiveness of fiscal stimulus. They therefore argue that because of the lower trade share the fiscal stimulus has been effective in Australia (The Australian, n.d). Irving Fischer, the renowned American economist contributed to the economics in many ways one of which is his theory of Inter-Temporal Choice, which describes that through time savings, interest rates and investments are related(The Australian, n.d.). His theory highlights that present economic decisions have to have the future in mind  [4]  . Discussion There has been increasing concern amongst the economists in Australia about the sustainability of the fiscal policy in particular with regards to a solution for the current government deficit of $17.459 billion (Table 1). Australia has had challenging times in maintaining a stable economic condition. The recent Global Financial Crisis (GFC) that started in 2007 imposed great pressure on the economy. Nevertheless implementation of the fiscal and monetary policies achieved a better than expected performance by the economy (Budget, 2009-10), with forecasts of stronger growth and lower unemployment. Rudds Stimulus package through its fiscal expansionary characteristics seems to have been an appropriate response to the GFC in stabilizing the output levels however there is great concerns regarding the future of the economy. Did our politicians throw in a Keynesian based fiscal stimulus package without consideration of future consequences of it? Was there any vote buying elements incorporated in the design of it? There is a general consensus amongst the economists on the effectiveness of lowering interest rates as a monetary response to GFC by RBA which was also assisted by a depreciated exchange rate. On the other hand the fiscal policy has generated a lot of debate amongst the economists with no consensus on its effectiveness in sight. This is mainly due to the long lasting effect of the fiscal stimulus as oppose to short term, temporary and more reversible effect of the monetary stimulus. Kevin Rudds Fiscal stimulation concentrated on aggregate spending in short term to boost economic growth as per the Keynesian model. This has been proven to be the case in Australia however the unproductiveness of this large scale spending and the deficit resulting from it is far from a perfect economic condition. Does Kevin Rudd share the thought with John Maynard Keynes of in the long run we are all dead? If so are we, the Australian people supposed to suffer the consequences of his 17 billion dollars debt through our taxes, higher interest rates and higher inflation? If Irving Fisher was alive and if he was with Kevin Rudd when he was signing on the stimulus package, perhaps he would have reminded the prime minister that although his short term fiscal stimulus policy would increase public spending, it would show no regards to achieving long term high standard of living for Australian people. The side effects of the fiscal cash out include: Increasing future taxes to pay for the debts Higher interest Likelihood of inflation (as history shows us that the easiest way out of public debt has traditionally involved money creation). So was Kevin Rudds big night out worth the next days hangover of a budget deficit that adds to public debts which would further drain the economy? Or has the government designed an appropriate fiscal rebalancing strategy that it hasnt shared with Australian public yet?

Love vs. Infatuation

Do you remember the first time you gave any serious thought to the meaning of love? As a youngster you may have carved entwined hearts on a tree or scrawled them on a notebook. For many of you, the words â€Å"I love you† flowed easily during high school dating experiences, but for others the sentiment was unspoken or virtually unknown. We can remember as teenagers talking about love with our peers and wondering how we would know when it happened. At times we felt certain that what we were feeling was love—only to decided, in light of the broken romance, that it was just â€Å"infatuation.† Occasional discussion with adults elicited a series of homilies about not letting the heart rule the head. A married cousin, perhaps speaking from experience, advised, â€Å"Never date anyone you wouldn’t consider marrying.† The point was clear: one might fall in love with someone with whom marriage was inappropriate. Parental words of wisdom ranged from â€Å"It’s as easy to fall in love with a rich person as a poor one† to â€Å"Don’t worry about it. When love hits, you’ll know it.† None of this advice seemed very helpful. Even so, we all knew that whatever love was, it was very serious (Hinkle, 2001). Popular songs, films, and novels were just as confusing. Literature classes exposed us to the peculiarities of love as experienced, for example, by Dante and Beatrice—the love that inspired Dante’s Divine Comedy. As a child, Dante saw Beatrice once and never recovered from the passion he felt. He married someone else and had seven children, but in his poems he mentions only Beatrice. II. Discussion A. What is love and infatuation? How does it differ from each other? Every individual desires to have his/her own partner in life; thus, desires to be loved and to loved. This is the reason why young people and older ones indulge in courtship to seek love and find a potential partner for marriage. This motivates everyone to watch romantic movies and read novels that show two people who are head-over-heels in love with each other. But are they really experiencing the true meaning of love or is it just an infatuation? Many young people thought that it is already love when the time they feel something for the opposite sex but most often, it is just an infatuation. So how can a person know that what he/she feels is love or just an infatuation? Love is basically giving your all in all unselfishly. The best description of love can be found in the Bible on 1st Corinthians 13: 4-8): â€Å"Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   is not rude, it is not self-seeking, it is not easily angered, it keeps no records of   Ã‚  Ã‚  Ã‚   wrongs. Love does not delight in evil but rejoices with the truth. It always   Ã‚  Ã‚  Ã‚  Ã‚   protects, always trusts, always hopes, always perseveres. Love never fails†¦Ã¢â‚¬  This would simply mean that love is not based on feelings but based on decision and commitment. Loving someone who has many flaws is a decision to make. Love is the all-purpose cure, covering all wrongs. It is worth searching for. It should be expressed openly. When you really love someone, you accept him for who he is regardless of his past. You do not only accept him because of his strengths and his personality but as a whole that includes his totality as a person.   Moreover, love is wondrous state, deep, tender and reassuring. Because of its intimate and personal nature it is regarded by some as an improper topic for experimental research (Harlow, 2003). On the other hand, infatuation is the opposite of love. The true concept of love is misinterpreted. This is usually happening to the young ones who are very emotional due to their being young. Young people are mostly motivated by emotions; thus, they make decisions very quickly without logic but by feelings alone. They thought that the excessive passion they feel for the opposite sex is already love but it is not and basically just an infatuation. Infatuation is an excessive passion for the other person. Its ground is how the person feels for the opposite sex basically does not involve logic, decision and commitment because when he discovers some flaws and weaknesses, he immediately get discourage for that person. That is why we sometimes hear the line â€Å"I am falling out of love† for those people who are just infatuated. III. Conclusion Infatuation can be viewed as a temporary, aroused sate that we cognitively labels as love. The strong affection of companionate love, which often emerges as a relationship matures, is enhanced by an equitable relationship and by intimate self-disclosure. True love sustains the marriage. No matter how life difficult is, the two people who are committed and bind with love can survive the storms of their relationship. Moreover, love is based on a decision and commitment. It accepts the flaws of other’s behalf. Love can cover multitudes of wrongs and easily forgives. In establishing a relationship, love is very important and significant because if there is no love, the relationship cannot continue. While infatuation is based on feelings; thus, it fluctuates when it sees mistakes and flaws. It does not endure hardships. You can love the person now and the next day, you may not feel loving him anymore; thus, the special feelings you have for your partner is just based on â€Å"emotions† which is usually called as â€Å"infatuation.† Young individuals must not rush in making decisions in getting married but must think million times. Therefore, infatuation is a counterfeit of love. Reference: Harlow, Harry (2003). â€Å"The nature of Love.† American Psychologist 13:673-685. Hinkle, Dennis E., & Sporakowski Michael J. (2001). Attitudes toward Love: A Reexamination.† Journal of Marriage and the Family 37: 764-767. Love. 1st Corinthians 13: 4-8. The Student Bible. New International Version.       Love vs. Infatuation Do you remember the first time you gave any serious thought to the meaning of love? As a youngster you may have carved entwined hearts on a tree or scrawled them on a notebook. For many of you, the words â€Å"I love you† flowed easily during high school dating experiences, but for others the sentiment was unspoken or virtually unknown. We can remember as teenagers talking about love with our peers and wondering how we would know when it happened. At times we felt certain that what we were feeling was love—only to decided, in light of the broken romance, that it was just â€Å"infatuation.† Occasional discussion with adults elicited a series of homilies about not letting the heart rule the head. A married cousin, perhaps speaking from experience, advised, â€Å"Never date anyone you wouldn’t consider marrying.† The point was clear: one might fall in love with someone with whom marriage was inappropriate. Parental words of wisdom ranged from â€Å"It’s as easy to fall in love with a rich person as a poor one† to â€Å"Don’t worry about it. When love hits, you’ll know it.† None of this advice seemed very helpful. Even so, we all knew that whatever love was, it was very serious (Hinkle, 2001). Popular songs, films, and novels were just as confusing. Literature classes exposed us to the peculiarities of love as experienced, for example, by Dante and Beatrice—the love that inspired Dante’s Divine Comedy. As a child, Dante saw Beatrice once and never recovered from the passion he felt. He married someone else and had seven children, but in his poems he mentions only Beatrice. II. Discussion A. What is love and infatuation? How does it differ from each other? Every individual desires to have his/her own partner in life; thus, desires to be loved and to loved. This is the reason why young people and older ones indulge in courtship to seek love and find a potential partner for marriage. This motivates everyone to watch romantic movies and read novels that show two people who are head-over-heels in love with each other. But are they really experiencing the true meaning of love or is it just an infatuation? Many young people thought that it is already love when the time they feel something for the opposite sex but most often, it is just an infatuation. So how can a person know that what he/she feels is love or just an infatuation? Love is basically giving your all in all unselfishly. The best description of love can be found in the Bible on 1st Corinthians 13: 4-8): â€Å"Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   is not rude, it is not self-seeking, it is not easily angered, it keeps no records of   Ã‚  Ã‚  Ã‚   wrongs. Love does not delight in evil but rejoices with the truth. It always   Ã‚  Ã‚  Ã‚  Ã‚   protects, always trusts, always hopes, always perseveres. Love never fails†¦Ã¢â‚¬  This would simply mean that love is not based on feelings but based on decision and commitment. Loving someone who has many flaws is a decision to make. Love is the all-purpose cure, covering all wrongs. It is worth searching for. It should be expressed openly. When you really love someone, you accept him for who he is regardless of his past. You do not only accept him because of his strengths and his personality but as a whole that includes his totality as a person.   Moreover, love is wondrous state, deep, tender and reassuring. Because of its intimate and personal nature it is regarded by some as an improper topic for experimental research (Harlow, 2003). On the other hand, infatuation is the opposite of love. The true concept of love is misinterpreted. This is usually happening to the young ones who are very emotional due to their being young. Young people are mostly motivated by emotions; thus, they make decisions very quickly without logic but by feelings alone. They thought that the excessive passion they feel for the opposite sex is already love but it is not and basically just an infatuation. Infatuation is an excessive passion for the other person. Its ground is how the person feels for the opposite sex basically does not involve logic, decision and commitment because when he discovers some flaws and weaknesses, he immediately get discourage for that person. That is why we sometimes hear the line â€Å"I am falling out of love† for those people who are just infatuated. III. Conclusion Infatuation can be viewed as a temporary, aroused sate that we cognitively labels as love. The strong affection of companionate love, which often emerges as a relationship matures, is enhanced by an equitable relationship and by intimate self-disclosure. True love sustains the marriage. No matter how life difficult is, the two people who are committed and bind with love can survive the storms of their relationship. Moreover, love is based on a decision and commitment. It accepts the flaws of other’s behalf. Love can cover multitudes of wrongs and easily forgives. In establishing a relationship, love is very important and significant because if there is no love, the relationship cannot continue. While infatuation is based on feelings; thus, it fluctuates when it sees mistakes and flaws. It does not endure hardships. You can love the person now and the next day, you may not feel loving him anymore; thus, the special feelings you have for your partner is just based on â€Å"emotions† which is usually called as â€Å"infatuation.† Young individuals must not rush in making decisions in getting married but must think million times. Therefore, infatuation is a counterfeit of love. Reference: Harlow, Harry (2003). â€Å"The nature of Love.† American Psychologist 13:673-685. Hinkle, Dennis E., & Sporakowski Michael J. (2001). Attitudes toward Love: A Reexamination.† Journal of Marriage and the Family 37: 764-767. Love. 1st Corinthians 13: 4-8. The Student Bible. New International Version.      

Events Leading Up to the American Revolution

Events Leading to the American Revolution The American Revolution was a gradual process. It did not happen overnight. We were gradually pushed there by the English. They first gave us the right to govern ourselves, and implement our own laws such as the no taxation without representation law in Pennsylvania. Only then to impose trade restrictions like the Navigation Acts, Sugar Act, and the Stamp Act. The British also set limits on where the Colonists could settle as in the Proclamation of 1763, and finally new taxes which there were many that the English imposed.The people in America had left Europe to get away from the monarch’s supreme rule and persecution. The monarch granted the settlers with royal charters which allowed them the same rights as they would have in England. Only to have the monarch in the end take away their rights and freedoms as Englishmen, and to abuse the British right to collect taxes with our proper representation. All of this pushed us to make our st and against the tyranny of Great Britain, and to assert our Independence in the American Revolution. Early on in the settlement of the Colonies there was a shift in priorities from finding gold to a society that valued family.Therefore you have an increase in the population where there is now a need for more schools, churches, and other town infrastructure. With these advances there became a more educated population that helped aid in the advancement and growth of new modern thinkers such as Benjamin Franklin and his contributions to the Colonies during the Age of Enlightenment. Due to the growth in population people began settling further and further west encroaching on French and Indian lands causing friction that would later led to the French and Indian War.A dispute over land in the American Ohio Valley between the Indians, French, Pennsylvanians, and Virginians brought about the French Indian seven year war. The first battle in the Seven Year War happened in May of 1754 where t he Mingo Chief led a small group of George Washington’s men to a French encampment where he led them to victory. Washington was weary of retaliation so he had his group erected a makeshift fort called the â€Å"Fort of Necessity†, to which he later fled from due to the impending French retaliation.The end of the war was signified by the Proclamation of 1763, which the Colonists ignored because it limited where Colonists could settle. This is one of the ways in which the Colonies and Great Britain’s relationship begins to deteriorate. During this time period England was involved in wars all over the globe, and because of it had racked up a large debt funding the various wars. They needed money to cover their expenses, so the King started to evaluate the Colonies and recognized that he needed to implement new laws in order to control the trade, and create new revenue.Some of the various ways Parliament and the King of England implemented trade restrictions, and im posed taxation were through the Navigation Acts, Sugar Act, Stamp Act, and Townshend Duties. Each one of these in various ways angered the Colonies because they never had a chance to vote on any of them, due to the fact that they were not represented in England. Under your rights as a citizen of Great Britain you were supposed to be represented, but Parliament and the King did not care that they were implementing laws that would go against the royal charters and the basic rights of their citizens in the Colonies.Another way Great Britain undermined its relationship with the Colonies was through the implementation of the Coercive Acts, otherwise known as the Intolerable Acts. All of the Acts mentioned above worked to create a lot of tension and strife between the Colonies and Great Britain. To further aid in the problem the people in the Colonies are now fourth or fifth generations, and have never been directly under the King’s rule or they have never visited England. So the C olonists start to get angry at this ruler whom they do not know, and start to get frustrated with Great Britain’s interference in their lives.From this uprising the Colonies start to get organized and form various different Militias. The most famous group that impacted the direction of the American Revolution was The Sons of Liberty. The Sons of Liberty helped to get the Colonists organized. They staged several events that demonstrated the Colonist anger and frustration toward Great Britain and the laws that Great Britain imposed on the Colonies. The Sons of Liberty were not a passive easy going group their demonstrations were very extreme, but they were effective in the repealing the Stamp Act and organizing the Colonists against the tyranny of British rule.One such way the Sons of Liberty incited the masses to unite was when one of their founding members, Samuel Adams coined the term the Boston Massacre after the fight in Boston broke out between eight British army official s and the town’s people. The Colonists are beginning to become more unified. The Colonist formed the First Continental Congress in response to the Coercive Acts. Where they implemented a total boycott of all British goods, declaration of rights to Parliament, and gave Great Britain a time limit of six months to respond.During the waiting time the Continental Congress advised its delegates to go home and start drilling their men to get them ready if they were needed. The Sons of Liberty were also instrumental in the Boston Tea Party, which was in response to Tea Acts. All of this helped to fan the roaring fire of the spirit of the American Revolution. Finally the last incident that really showed the British how organized and how serious the Colonies were was when Thomas Gage landed in Boston harbor with 400 British soldiers.He was going to lead his troops to Concord to capture Samuel Adams or John Hancock, and locate a supply house to take away the Colonists weapons. They made it to Lexington were the British encountered a group of armed Colonists. Gage commanded that they lay down their weapons, but someone, we don’t who, fired their gun. That shot is called the Shot that was heard around the world. Gage went on to Concord, but was unable to locate anything except a bucket of bullets and a barrel of flour. On his way back to his ship Minute Men were posted along the trail, and the Minute Men ended up taking out over half of Gage’s men.The Colonists were organized, educated, and willing to die for their rights. The British kept on pushing the envelope to see what the Colonists would take, and eventually they pushed too hard and the Colonists reacted. There are many events leading to the American Revolution, but the one thing that they all have in common is the right to Liberty and Freedom. The Colonies stood up to Great Britain, and they were successful in the American Revolution. ———————â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ [ 1 ].Bruce and William Catton, The Bold and Magnificent Dream, (Garden City, NY: Doubleday & Company, Inc, 1978) 72. [ 2 ]. Ibid. , 74. [ 3 ]. Library of Congress, The American Revolution, posted January 2010 http://www. loc. gov/teachers/classroommaterials/presentationsandactivities/presentations/timeline/amrev/rebelln/. [ 4 ]. US Department of State Office of the Historian, Milestones in American History posted Feb 2011 http://history. state. gov/milestones/1750-1775/FrenchIndianWar. [ 5 ]. Bruce and William Catton, The Bold and Magnificent Dream, 261. Events Leading Up to the American Revolution Events Leading to the American Revolution The American Revolution was a gradual process. It did not happen overnight. We were gradually pushed there by the English. They first gave us the right to govern ourselves, and implement our own laws such as the no taxation without representation law in Pennsylvania. Only then to impose trade restrictions like the Navigation Acts, Sugar Act, and the Stamp Act. The British also set limits on where the Colonists could settle as in the Proclamation of 1763, and finally new taxes which there were many that the English imposed.The people in America had left Europe to get away from the monarch’s supreme rule and persecution. The monarch granted the settlers with royal charters which allowed them the same rights as they would have in England. Only to have the monarch in the end take away their rights and freedoms as Englishmen, and to abuse the British right to collect taxes with our proper representation. All of this pushed us to make our st and against the tyranny of Great Britain, and to assert our Independence in the American Revolution. Early on in the settlement of the Colonies there was a shift in priorities from finding gold to a society that valued family.Therefore you have an increase in the population where there is now a need for more schools, churches, and other town infrastructure. With these advances there became a more educated population that helped aid in the advancement and growth of new modern thinkers such as Benjamin Franklin and his contributions to the Colonies during the Age of Enlightenment. Due to the growth in population people began settling further and further west encroaching on French and Indian lands causing friction that would later led to the French and Indian War.A dispute over land in the American Ohio Valley between the Indians, French, Pennsylvanians, and Virginians brought about the French Indian seven year war. The first battle in the Seven Year War happened in May of 1754 where t he Mingo Chief led a small group of George Washington’s men to a French encampment where he led them to victory. Washington was weary of retaliation so he had his group erected a makeshift fort called the â€Å"Fort of Necessity†, to which he later fled from due to the impending French retaliation.The end of the war was signified by the Proclamation of 1763, which the Colonists ignored because it limited where Colonists could settle. This is one of the ways in which the Colonies and Great Britain’s relationship begins to deteriorate. During this time period England was involved in wars all over the globe, and because of it had racked up a large debt funding the various wars. They needed money to cover their expenses, so the King started to evaluate the Colonies and recognized that he needed to implement new laws in order to control the trade, and create new revenue.Some of the various ways Parliament and the King of England implemented trade restrictions, and im posed taxation were through the Navigation Acts, Sugar Act, Stamp Act, and Townshend Duties. Each one of these in various ways angered the Colonies because they never had a chance to vote on any of them, due to the fact that they were not represented in England. Under your rights as a citizen of Great Britain you were supposed to be represented, but Parliament and the King did not care that they were implementing laws that would go against the royal charters and the basic rights of their citizens in the Colonies.Another way Great Britain undermined its relationship with the Colonies was through the implementation of the Coercive Acts, otherwise known as the Intolerable Acts. All of the Acts mentioned above worked to create a lot of tension and strife between the Colonies and Great Britain. To further aid in the problem the people in the Colonies are now fourth or fifth generations, and have never been directly under the King’s rule or they have never visited England. So the C olonists start to get angry at this ruler whom they do not know, and start to get frustrated with Great Britain’s interference in their lives.From this uprising the Colonies start to get organized and form various different Militias. The most famous group that impacted the direction of the American Revolution was The Sons of Liberty. The Sons of Liberty helped to get the Colonists organized. They staged several events that demonstrated the Colonist anger and frustration toward Great Britain and the laws that Great Britain imposed on the Colonies. The Sons of Liberty were not a passive easy going group their demonstrations were very extreme, but they were effective in the repealing the Stamp Act and organizing the Colonists against the tyranny of British rule.One such way the Sons of Liberty incited the masses to unite was when one of their founding members, Samuel Adams coined the term the Boston Massacre after the fight in Boston broke out between eight British army official s and the town’s people. The Colonists are beginning to become more unified. The Colonist formed the First Continental Congress in response to the Coercive Acts. Where they implemented a total boycott of all British goods, declaration of rights to Parliament, and gave Great Britain a time limit of six months to respond.During the waiting time the Continental Congress advised its delegates to go home and start drilling their men to get them ready if they were needed. The Sons of Liberty were also instrumental in the Boston Tea Party, which was in response to Tea Acts. All of this helped to fan the roaring fire of the spirit of the American Revolution. Finally the last incident that really showed the British how organized and how serious the Colonies were was when Thomas Gage landed in Boston harbor with 400 British soldiers.He was going to lead his troops to Concord to capture Samuel Adams or John Hancock, and locate a supply house to take away the Colonists weapons. They made it to Lexington were the British encountered a group of armed Colonists. Gage commanded that they lay down their weapons, but someone, we don’t who, fired their gun. That shot is called the Shot that was heard around the world. Gage went on to Concord, but was unable to locate anything except a bucket of bullets and a barrel of flour. On his way back to his ship Minute Men were posted along the trail, and the Minute Men ended up taking out over half of Gage’s men.The Colonists were organized, educated, and willing to die for their rights. The British kept on pushing the envelope to see what the Colonists would take, and eventually they pushed too hard and the Colonists reacted. There are many events leading to the American Revolution, but the one thing that they all have in common is the right to Liberty and Freedom. The Colonies stood up to Great Britain, and they were successful in the American Revolution. ———————â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ [ 1 ].Bruce and William Catton, The Bold and Magnificent Dream, (Garden City, NY: Doubleday & Company, Inc, 1978) 72. [ 2 ]. Ibid. , 74. [ 3 ]. Library of Congress, The American Revolution, posted January 2010 http://www. loc. gov/teachers/classroommaterials/presentationsandactivities/presentations/timeline/amrev/rebelln/. [ 4 ]. US Department of State Office of the Historian, Milestones in American History posted Feb 2011 http://history. state. gov/milestones/1750-1775/FrenchIndianWar. [ 5 ]. Bruce and William Catton, The Bold and Magnificent Dream, 261.

info tech essays

info tech essays Topology means how a network is set up. Token Ring topology is one of them. It means that several computers are connected in a ring. When one computer wants to send data to another, it has to catch a free token which gives the permission to send data. As soon as one particular machine gets the token, it has the control over the whole network which means no other computer can send data. Then it puts its destination address and the data on the token, and sends the token to the machine that ¡s next to it. If the next machine is not the destination, it will pass the data on and on until it gets to the address. When the addressed station gets the data, it can not keep the message and release the token. It copies the data, then it sends the message back to the initiator with the acknowledgment to say that it has received the data. After the initiator receives the message and reads the acknowledgment, the free token can be released onto the ring. There are similarities and differences between Token Ring topology and Bus topology. In a Bus topology (Ethernet) all devices are connected to a central cable, called the bus or backbone.(ce.org/networkguide/netstructure/net4.asp) Ring topology is similar to Bus topology in that both networks have multiple access so that the messages will got to every station on the network. However, they are different. First, a Token Ring network has a ring which connects the network instead of a cable. Second, for Ethernet, when computers get messages which do not belong to them, they will not keep them and pass them on. Token Ring topology is different. Every machine on the network will keep passing on the data until it gets to its destination. Third, a computer on a Bus network has to wait for the network to be clear in order to send data packets. A Ring network has a token, so as soon as a machine ca ...

qreew essays

qreew essays The composer of some of the most influential pieces of music ever written, Ludwig van Beethoven created a bridge between the 18th-century classical period and the new beginnings of Romanticism. His greatest breakthroughs in composition came in his instrumental work, including his symphonies. Unlike his predecessor Wolfgang Amadeus Mozart, for whom writing music seemed to come easily, Beethoven always struggled to Ludwig van Beethoven was born in Bonn, Germany, and was baptized on Dec. 17, 1770. (There is no record of his birth date.) His father and grandfather worked as court musicians in Bonn. Ludwig's father, a singer, gave him his early musical training. Although he had only meager academic schooling, he studied piano, violin, and French horn, and before he was 12 years old he became a court organist. Ludwig's first important teacher of composition was Christian Gottlob Neefe. In 1787 he studied briefly with Mozart, and five years later he left Bonn permanently and went to Vienna to study with Joseph Haydn and later with Beethoven's first public appearance in Vienna was on March 29, 1795, as a soloist in one of his piano concerti. Even before he left Bonn, he had developed a reputation for fine improvisatory performances. In Vienna young Beethoven soon had a long list of aristocratic patrons who loved music and were eager to help him. In the late 1700s Beethoven began to suffer from early symptoms of deafness. The cause of his disability is still uncertain. By 1802 Beethoven was convinced that the condition not only was permanent, but was getting progressively worse. He spent that summer in the country and wrote what has become known as the "Heiligenstadt Testament." In the document, apparently intended for his two broth ...

Military Industrial Complex Essay Example | Topics and Well Written Essays - 1500 words - 2

Military Industrial Complex - Essay Example vast proportions†¦ The total influence – economic, political, even spiritual – is felt in every city, every statehouse, every office of the federal government†¦ In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. (Eisenhower, 1961) What this Eisenhower speech underscored was that the link between economics and war is a real one especially that the connection operates in contemporary capitalist society through money- making and globalization. Hence, its influence crept up to the highest echelon of the government influencing policy-making to the extent of war-mongering in order to profit. Unfortunately, Eisenhower’s warning is starting to be lost amid the rapid and numerous economic and political developments not just in America but in the global stage. This is not surprising at all. The highly capitalist society of the US and its dominance in the world stage tempered this issue that today, only the left-wing critics tend to advance the cause against the military industrial complex. Indeed, according to the imminent economist, Joseph Schumpeter (1991), the orientation toward war is mainly fostered by the domestic interests of ruling classes and the influence of those who stand to gain individually from a war policy. (p. 188) After the Second World War, the US was the unrivaled power throughout the capitalist world. In addition, the US provided a military security for the West with the existence of a credible threat embodied by the USSR. However, in the 1970s the Soviet Union collapsed and the US security umbrella was no longer needed. The US power began a long decline as the economies in Europe and Japan recovered. This was alarming since according to Richard Appelbaum and William Robinson (2005), the MIC is the structural heart of the US superpower status. (p. 141)

Main activities of commercial and investment banks in the capital Essay

Main activities of commercial and investment banks in the capital markets - Essay Example Commercial banks provide capital market related services, depository services, advises on portfolio management or investment counseling, etc. Many banks have now started offering investment services to the retail customer, which is essentially advice and execution of mutual fund investments and redemptions.The Commercial Banks can be referred to as institutions that are involved in credit activities. Credit activities can be classified into deposit acceptance and borrowing funds from other banking institutions. Other activities are credit extension, risk management and risk advice.The classification of the types of services that are offered by a commercial bank is as follows:†¢ Discretionary Services – Decisions are taken on behalf of the clients/customers by a portfolio manager keeping in view the different parameters of asset allocation. †¢ Non-discretionary Services – In this kind of services, portfolio managers do not have the right to take decisions on behalf of clients/customers. The client or the customer is needed to authorize all the transactions happening with respect to their account.Advisory services – Flexible, unbiased investment advice customized to meet the client’s needs.Transaction support – All transactions, both in the primary and secondary markets facilitated through a panel of brokers.Custodial services – Important from the point of view of removal of settlement hassles and efficient follow-up of all corporate actions.Commercial banks approach the brokers for information about the quotes of other commercial banks. The broker serves three important purposes in the foreign exchange markets. First, instead of hunting around in the market for quotes, one can approach a broker and find out these prices. Second, brokers help the prospective buyer or seller keep his identity secret till the deal is struck. This prevents the quote being affected by the inquirer's position, i.e. whether he needs to buy or to sell. Lastly, even when there is no buying or selling requirement, commercial banks can keep their quotes from going too far away from the quotes being given by other banks, by inquiring about the market quotes from the brokers. Investment banks help both the government and corporate in raising money by trading in the securities markets. Large investment banks deal in the market both to execute their clients', (both corporate and individuals) orders and on their own account. They act as market makers in the foreign exchange markets, i.e. they stand ready to buy or sell various currencies at specific prices at all points of time. The commercial banks give, on demand, a quote for a particular currency against another currency, i.e., the rate at which they are ready to buy or sell the former against the latter. At these rates they stand ready to take any side of the transaction (buy or sell) that the customer chooses. The maximum and the minimum amount of the currencies acceptable to the bank at these rates, though not specified at the time of making the quote, are generally understood according to the conventions of the market. These rates may not necessarily be applicable to amounts smaller or larger than th ose acceptable according to the going conventions. In the foreign exchange markets there are numerous market makers, and all of them would be giving different quotes for the same pair of currencies simultaneously, at any point of time. It would be very difficult for a player to keep track of all the quotes available in the market, and hence choose one which is considered the most favorable. As a result, a number of trades may be taking place simultaneously at different exchange rates. The market making activity of the commercial banks, along with speculation, makes markets extremely liquid, especially for the major currencies of the world