View Buddhism Essay Example for Free

View Buddhism Essay The academically inclined often choose to view Buddhism as an outgrowth of environment or preexisting religions, but Dhammanda (2002) observes that this does not accord it recognition as an intellectual approach to reality. As such, Buddhism is the evolved result of religious and philosophical development derived from a pragmatic form of introspection which yields an emphasis on mental development that evokes the intellectual stance of the scientific method. Verhoeven (2001) notes that, because modern science is regarded as difficult to reconcile with the religious orthodoxy of Western culture, the growing Western interest in Buddhism is largely predicated on its potency as an â€Å"alternative altar† that may seek to fulfill the need to acquire a religious code that can reside comfortably alongside post-Darwinian science. Watson (2001) remarks that exponential progress in the fundamentals of cognitive science have resulted in an increased reception towards the Buddhist tradition, which is preoccupied with the varying modes of human experience. Part of this sudden appeal comes from Buddhism’s remarkable empiricization of psychology and philosophy, which asserts that the emotional well-being of man is contingent upon his ability to realign his perspective on experience and use this realignment to bring about positive change. But the other more crucial component to this sudden appeal is that Western science has begun to reconsider the traditional mind/body binary which situates consciousness within the brain and the body as anatomic extensions of consciousness. As Watson (2001) notes, â€Å"the mind is not just a program in the brain, but [†¦] its processes are distributed throughout the body.† However, Verhoeven (2001) cautions that we should be careful not to equate the resonance between Buddhism and Western science with absolute paradigmatic compatibility. While â€Å"adapting new and unfamiliar Buddhist conceptions to †¦ Western thought† may enrich the field of science, he warns that this also â€Å"threatens to dilute [Buddhism’s] impact and distort its content.† Still, Watson (2001) reasons that Buddhist’s real potential to enrich science is not its quasi-logical structure, but its attempt to propose an epistemology that is not rooted in dualism. â€Å"†¦Its purpose is †¦ to relate to an embodied way of being.† To this end, Buddhism endorses an engagement with the world that is based on process and agency rather than on products and essences. As such, Buddhism’s greatest boon is its potential to confer centuries of results in the domain of first-person experience to further the sophistication of the West’s third-person research. This receptive approach extends beyond enabling the flexibility of fundamental notions of reasons and into the theoretical framework which governs the production of art. Conventional generalizations regarding Eastern and Western art propose that, where Western art give emphasis to form and verisimilitude, Oriental art places an emphasis on abstraction and the representation of the spirit. Under such a dichotomy, the philosophical orientation of Western art is geared towards the imposition of meaning over reality, whereas Eastern art either yields to the primacy of forms, or chooses to receive it as a source of interpretation rather than a tool for representation. Lieberman (1997) proposes that aesthetics in Western art is used to establish a link between the emotions of the artist and the audience. The Western artist accomplishes this by working within the intersection in which form and content operate to produce meaning to create mood. As such, verisimilitude to real forms is not merely a question of creating â€Å"aesthetically pleasing reproduction[s],† but expressing a personal reaction to them. He then contrasts this with Zen Buddhist art, noting that it forgoes verisimilitude in favor of using the simplest possible means to express the â€Å"the inherent nature of the aesthetic object.† As such, regardless of aesthetic peculiarity, any form may inspire painting, be expressed through verse or utilized in music, rather than insisting on dogmatic notions of what can be utilized or expressed in them. (Lieberman, 1997) Lieberman (1997) quips, â€Å"The job of the artist is to suggest the essence, the eternal qualities of the object, which is †¦ a work of natural art before the artist arrives on the scene.† Achieving this goal comes from comprehension of the aesthetic object’s inner nature, what Lieberman terms to be â€Å"its Buddha nature,† and essentially promoting an inquisitive engagement with aesthetic forms not unlike the scientific endeavor. The fashion by which Buddhism enriches civilizations lie in, not merely its ability to open up the modes we engage in science and art through inquisitiveness and receptiveness, but in the fact that these cultural gains are extensions of an entire philosophy which promotes the thinking power of human beings. As Dhammanada (2002) observes, it effectively frees them from the dogmatic approach to life resulting in fanaticism and myopic thinking and â€Å"produces the feeling of self-reliance by teaching that the whole destiny of humanity lay in their own hands, and that they themselves possess the faculty of developing their own energy and insight in order to reach the highest goal.†   REFERENCES Dhammanada, K. S. (2002) What Buddhists Believe. Kuala Lumpur, Malaysia: Buddhist Missionary Society Malaysia. Lieberman, F. (1997) Zen Buddhism and Its Relationship to Elements of Eastern and Western Arts. Retrieved May 16, 2008 from: http://arts.ucsc.edu/faculty/lieberman/zen.html Verhoeven, M. J. (2001, June) Buddhism and Science: Probing the Boundaries of Faith and Reason. Religion East and West, Issue 1. Pp. 77-97 Watson, G. (2001, January) Buddhism Meets Western Science: A dialogue on the mind and consciousness. Religion and the Brain, Issue 19.

Analyze How Embraer Has Structured Itself Economics Essay

Analyze How Embraer Has Structured Itself Economics Essay This paper will focus on the commercial aircraft industry. The report will analyze how Embraer has structured itself and gained competitive advantage in lower end segment of the aircraft industry and then the analysis of cost of capital of Embraer will be projected. The commercial aircraft industry has faced a tough times in recent past which resulted in failures, mergers and joint ventures. The aircraft industry has faced a lot of competition from two of the giants Boeing and Airbus which have dominated the whole aircraft market and has maximum market share. These two giants have huge pool of investment, better infrastructure and government support and because of that they are dominating the aircraft market. All these companies see the current business environment possessing the challenges of a weak global economy and demand due to the economic turmoil, high and unstable fuel costs, and lack of foreign investments. Brazil PEST Framework: Political: Federal Republic framework which is similar to that of United States of America. The federal republic has three independent branches independent branches: executive legislative and judicial. The President heads the executive branch. The increasing divergence between US and Brazilian foreign policy creates high geopolitical risk. This will lead to increasing confrontations between the US and Brazil and the continued decline of foreign direct investment. The main source of violence in Brazil is criminal rather than political. Personal security is poor as there is an extremely high rate of criminal activity in major cities. Police fails to assure safety for citizens as well for business. Brazilian legal system is not very effective and has several faults in them. Honest government is also a big problem in Brazil for ex. the impeachment of a former Brazilian president Mello in 1992 who have been involved in an extortion scheme, and the current corruption scandal of the ruling party of Lula. Inefficient government policies towards economic development of a country for ex. continuous budget deficit, negative net income, high external debt, etc. Poor and inefficient public health and safety conditions infant mortality and mal-nutrition are the leading reasons. Inefficient education system both lack of quality and quantity are the main issues and government is not paying much attention towards this issue. Government regulations favour the minority shareholders. Government policies towards globalisation and openness to market had favoured exports. Economic: Brazil is considered to be as the worlds tenth largest economy and one of the largest economies of South .Its GDP (PPP) per capita is $10,200, putting Brazil in the 105th position in the world. The inflation rate in Brazil is 4.2% which has decreased from 5.9% in 2008. Major export products include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef. The country has been expanding its presence in international financial and commodities markets, and is one of a group of four emerging economies called the BRIC countries. Economic environment still considered volatile as compared to more stable economies. Complex tax policies and regulations. Multiple taxes affecting business plans and increasing risks of contingencies. Considerable bureaucratic rules and regulations for certain businesses and industries. High demand for investments in the distribution channels and infrastructure. Difficulties in reorganizing companies quickly, including high costs for employee terminations. Lack of local financing coupled with high real interest rates. Economic growth risks are high. Private consumption will be constrained by high unemployment and continued erosion of real earnings. The risk of a significant decline in foreign exchange reserves is high because of the economic turmoil. Investment risk in Brazil is much higher than generally perceived. High public debt exposed to domestic interest-rate trends and maturity that is still too short Lack of investment in infrastructure building. Social: The culture of Brazil is very much similar to that of Portuguese culture. The official language of Brazil is Portuguese which is spoken by almost all of the population. Important cultural customs, including a different perception of the due diligence process. Semi-skilled and unskilled labor in certain developing areas. Unequal distribution of wealth a significant portion of the population not participating in the consumer market. Socio-political obstacles to necessary structural reforms (education, social security, job market, taxes, regulations). Technological: In Latin America, Brazil is a leading nation in the field of science and technology. Sectors like bio fuels, agricultural research, remote sensing and aircrafts manufacturing Brazil operate as a global leader. Government put more emphasis on the development of research labs and innovation and RD in these particular sectors to foster growth and development. Overall Risk Assessment of Brazil: Positive Brazil has abundant natural resources. Fiscal and monetary policy has been prudent and realistic. Domestic market potential and low labour costs have continued to attract foreign investors. The current level of growth foster Brazilian companies to be competitive. Strong international financial support. Policy of maintaining fundamental macroeconomic equilibrium. Size and potential of the domestic market. Broad industrial base and a diversified economy. Government policies favoured globalisation. Negative External financing needs are too great in comparison to currency earnings due to the debt amortisation burden. Socio-political obstacles to necessary structural reforms (education, social security, job market, taxes, regulations) Lack of investment in energy, rail, road, port, and airport infrastructure Exposure to fluctuations in world prices for certain staple commodities. Economic environment still considered volatile as compared to more stable economies. Complex tax policies and regulations. Improper financing regulations. Commercial Aircraft Industry Analysis: Embraer is now the worlds third largest aircraft manufacturer they had gained competitive advantage by creating cost- efficient and innovative aircrafts in the lower end segment. Competitive rivalry among existing players: The competitiveness in the aircraft industry is very high but the competition is not very fierce because most of the market is shared between Boeing and Airbus and rest is with Embraer and Bombardier. The aircraft industry is truly a global industry so each of the manufacturers has to think globally. Barrier to exit is very high because of huge investment and high specialised equipments. Boeing and Airbus had gain market share from each other using prices, product design, advertising, and direct selling efforts. Due to the intensity of the rivalry among Boeing and Airbus, the profits are shared. The industry is technically very sound i.e. there is not much differentiation between the players and their products hence, there is much price competition. Threat of new Entrants: Enter into aircraft manufacturing market is very tough because it requires huge capital investment and knowledge of technical know-how. Cost advantages of big players like Boeing and Airbus because they have enormous experience and knowledge about the industry. These two giants have dominated the entire aircraft industry and they also have strong brand loyalty of their products because they are the best in the business. They have a proper network of loyal supplier and distributor for their products and long term after sales service contracts. Threat of substitutes: No immediate substitutes are present for aircraft manufacturers. The players and their products in the industry are substitutes of one another. Bargaining power of Customers: The bargaining power of customers is relatively low in aircraft industries because most of the buyers in the aircraft industries are government of different countries and some private airlines. Aircrafts are very expensive commodities and show high in cost when switching aircrafts because of that the bargaining power is low in aircraft industry. But because of intense competition between Boeing and Airbus the bargaining power of buyers is moderately higher between these two companies otherwise its relatively low in terms of industry. Bargaining power of Supplier: The aircraft industries is dominated by two big giants Boeing and Airbus and they are such big companies that they have more bargaining power than their suppliers so because of this reason the bargaining power will be low in the aircraft industry. The aircraft industry needs huge investments and high class technology the forward integration is very low or impossible for the suppliers. According to this analysis the main components which are needed to compete in aircraft industry are global strategy, cost effectiveness, innovative and high class technology and huge capital. Core Competencies of Embraer which helps them to compete in Aircraft Industry: Country Factor: The Brazilian government has had a strong affect on Embraer. As mentioned, the company was founded by the government in 1969. Before its privatization in 1994, Embraer had established several partnerships abroad and was very focused on exporting its aircraft to new markets. The government does have strategic power and has ability to refuse certain decisions. Global Strategy: Embraer has proven itself a truly global company in many ways. Embraer has more than 90% of its sales outside Brazil. It has a worldwide operation network. It has appeased global investors because it deals mostly in US dollars. Embraer focuses on business growth, solid corporate culture, and strategic partnership to operate globally and market analysis before entering a new market. Economies of scale: Embraer is proved to be a very efficient company in the aircraft industries because Embraer recognises that China has skilled cheap labour and technology intensive manufacturing centre so they have opened their research hubs and manufacturing units in China. Embraer has been able to design common platforms for its aircrafts with superior performance capabilities which helped them to compete in the aircraft industry and now they have become the worlds third manufacturers and they have overtook Bombardiers in several aspects. Innovation: Embraer has focused its RD on the development, systems engineering and integration of the more than 28,000 parts and components that make up an aircraft. Embraers strategy has been to focus its RD funds on key technologies that it can effectively produce in house. It has outsourced the production of components that other companies can manufacture more efficiently. Embraer trains its engineers, not only in aeronautics, but also in market research and finance, allowing a broader understanding of the industry. Determined Approach: Embraer has very determined company they are very much determined of what they are doing and thats why they have succeeded to gain market share from their competitors like Boeing and Airbus. Embraers ability to continually and successfully forecast future global demand and its ability to meet that demand in unique and innovative ways will be the keys to its future success. Cost of Capital Analysis of Embraer: Cost of capital is the minimum required rate of earning or the cut off rate for capital expenditure. Soloman Ezra. To calculate cost of capital we have to calculate cost of equity and cost of debt. Cost of Equity: The minimum rate of return that a firm offers to its shareholders is called cost of equity. Formula: Cost of equity = Risk free Rate + Beta (Mature Market Premium) + Country Risk Premium First to calculate Beta for Embraer: Average Beta = 1.19 Market D/E Ratio = 22.94% Tax Rate = 20.05% Unlevered Beta = 1.00 Cash/ Firm Value = 7.90% Unlevered Beta corrected for cash = 1.09 To calculate Levered Beta the formula is: Levered Beta = Unlevered Beta (1 + (1- tax rate) (D/E ratio) = 1 (1+ (1-.2005) (.2294)) = 1.18. Risk free Rate = Market Interest Rate Default Spread (Brazil) = 8.75 2.60 = 6.15% Equity Risk Premium Brazil = 4.79% * 25.83% / 15.27 = 8.10% Country Risk Premium Brazil = 8.10% 4.79% = 3.31% Cost of equity = Risk free Rate + Beta (Mature Market Premium) + Country Risk Premium = 6.15 + 1.18(8.10) + 3.31 = 19.01% Cost of Debt: (Rf + credit risk rate)(1-T), where T is the corporate tax rate and Rf is the risk free rate. Cost of debt Emerging Market company After Tax= Riskless Rate + Country Default Spread + Company Default Spread (1-T) = (6.15 + 2.25 +2.60) (1- .2005) = 8.79% Sovereign Bonds of Brazil = 2.25 Corporate Bonds of Brazil = 2.60 Country Rating of Brazil is Baa3. WACC Calculation: The WACC equation  is the cost of each capital component  multiplied by its proportional weight and then summing: WACC = E/V * Re + D/V * Rd * (1- T) Where: Re = cost of equity Rd = cost of debt E = market value of the firms equity D =  market value of the firms debt V = E + D E/V = percentage of financing that is equity D/V = percentage of financing that is debt T =  corporate tax rate = 20.05% Market Value of Embraers Equity = 5970531 Brazilian Real for year 2008. Market Value of Embraers Debt = 6990127 Brazilian Real for year 2008. V= 12960658 Brazilian Real WACC = 5970531/12960658 * 19.01 + 6990127/12960658 * 8.79 * (1- .2005) = 10.71%

Examine The Export Led Growth Strategy Economics Essay

Examine The Export Led Growth Strategy Economics Essay Introduction This paper is focused to examine the export-led growth strategy. This is always believed that the developing countries can enhance their economy growth through the export promotion strategies. The economists such as Giles and Williams (1999) mentioned about export led growth which strategy have positive relationship between export and economy growth. There are number of factors are highlighted in literature review which are responsible most in the export led growth model. All factors are mentioned in this paper in detail. This strategy has been adopted by many developing countries and emerging countries to become out from recession. Some countries are successful to achieve their development goals but some are not. This paper research is based on secondary data research. The secondary data research provides wide range of data to analysis. For example Foreign Direct Investment (FDI) report says that the analysis is based on primary as well as secondary data, while the primary survey pr ovides limited information for the requisite analysis, the secondary database has been a major source of detailed firm- and plant-level analysis. The secondary database provided a rich source of plant-level data which has been used extensively in the analysis. The capitaline database provides data on more than 14,000 Indian listed and unlisted companies classified under more than 300 industries. The information used is based on FDI actually received (SEBASTIAN, N.J, 2010). In this report books, articles and journals used to examine the export-led growth and development policies of countries. The statics and data have collected from World Bank, Asian development bank and International Monetary Fund (IMF) reports. The debate is not new, in past two decades number of studies analysed on exports and economy development. Past studies such as (Krueger, 1978; Chenery, 1979; Tyler, 1981; Kavoussi, 1984; Balassa, 1985; Ram, 1985, 1987; Chow, 1987; Fosu, 1990; and Salvatore and Hatcher, 1991) in the favour of export led growth and economy development, but other studies such as ( Jung and Marshal, hereafter referred as JM,1985; Kwan and Cotsomitis, 1990; Ahmad and Kwan, 1991; Dodaro, 1993; Oxley, 1993; Yaghmaian, 1994; and Ahmad and Harnhirum, hereafter referred as AH, 1995) argue against the economy development. While we are examining the export led growth model in the point of view economy growth, then we also need to focus on globalisation as well. There are many types of globalisation for example globalisation of culture, globalisation of economy and globalisation of society. According to the Walker en Fox (1992) (MOSTERT, J, 2003) the global integration of the financial markets can be seen as an example globalisation. Walker en Fox argues than the process of financial globalisation is the most important part of the process of globalisation. Globalisation is the most important part of economy, Brittan (1998:2) states that as a whirlwind of relentless and disruptive c hange which leaves governments helpless and leaves a trail of economic, social cultural and environmental problems in its wake (MOSTERT, J, 2003). The world is connecting to each other via new technology, via phones, via satellite etc. But before 50 years ago it was not much easier then today. For example today Asian countries got number of mobile users. The big telecom companies of UK such as Vodafone and O2 are already invested in India (south Asia). Baldwin and Martin (1999) mentioned that the innovations and advances in transportation, information and communications technologies (RAJAN, Graham Bird and Ramkishen S., 2001). This report is mainly examining the export led growth model in developing countries. This paper examines the south Asia part of world and chosen country is India. This report is structured as section 2 brings overview of globalisation and literature review of globalisation, section 3 highlighted the economic globalisation and in section 4 impact of globalisati on, in further section 5 is about the overview of developing economies, section 6 spells out export led growth model and literature review of export led growth model, section 7 presents the some recommendations on the basis empirical studies result, the section 8 will discussed about the export promotion strategies which are adopted by India and critical examine the strengths and weakness of these promotion strategies, in the final part of this report is section 9 summarizes the discussion and conclusion. Overview of Globalisation Globalisation is the modern way which is changing the world trade system and world politics. The globalisation is the way to reduces the barriers between two countries and interchange the goods, services, labour and capital. Globalisation is popular and cheapest way to reduce the transportation cost, communication cost. It is the faster way to communicate, lower trade barriers and to raise the capital flows. In the result of globalisation the developing economies becoming more close with the world. As per United Nations University, In the new era of growing integration of economies and societies, individuals and corporations reach around the world further, faster, and more economically than before (HESHMATI, Almas, 2005). Literature review of Globalisation Globalization has its roots in the second-half of the eighteenth century. The period 1870-2000 is classified into (i) the first wave of globalization 1870-1913, (ii) the de-globalization period of 1913-50, (iii) the golden age of 1950-73, and (iv) the second wave of globalization from 1973 onwards (see ORourke and Williamson 2000; ORourke 2001; Maddison 2001; Williamson 2002; and World Bank 2002) (HESHMATI, Almas, 2005). Globalisation is a term that has become very popular and used in many different contexts in the literature. Before the impact of globalisation on Africa can be evaluated it is crucial that the meaning of globalisation should be clarified. The definition of globalisation should also be distinguished from terms like internationalization, regionalization and liberalization (MOSTERT, J, 2003). Some claims that globalisation is the breakdown between countries border, economy and communities. Giddens (1999) has characterized as a runway world. For better or worse, he says, We are being propelled into a global order that no one fully understands, but which is making its effects felt upon all of us (HELD, David, 2000). But we look other definition of globalisation given by Guy Brainbant, he says the process of globalisation not only includes opening up of world trade, development of advanced means of communication, internationalisation of financial markets, growing importance of MNCs, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and pollution (GOYAL, Krishn A, 2006). He also pointed out the negative aspects of globalisation as well. O Brien (1992:5) also links the definition of globalisation to geographical borders. OBrien distinguishes between national, international, offshore and global. National transactions take place between businesses in the same country (MOSTERT, J, 2003). In the end globalisation is related with exchange of service, goods or capital between countries. As Redding (1999:19) defines globalisation the increasing integration between the markets for goods, services and capital, Reddings definition also links globalisation to the breakdown of borders (MOSTERT, J, 2003). The Globalisation is transforming trade, finance, employment, migration, technology, communications, the environment, social systems, and ways of living, cultures and patterns of governance (STREETEN, Paul, 1998). Economic globalisation The concept of globalisation is very broad. The different people have different views and definitions about globalisation. Some economists view globalisation as positive effects on the world economy and world trade but some says globalisation has negative effects as well (see Bhagwati, 2002) (BHAGWATI, J, 2002). Today as we see the cultural, political and technological globalisation is important but we cant ignore economic globalisation as well. Robinson (2001) mentioned that the fulcrum of the various definitions of globalization seems to be wealth or economic development, the parameters within which many schools of thought view globalization is usually based on trade or economic activity (OBADAN, Mike I., 2008). The debate about globalisation is the lack of a clearly agreed definition of the concept- the word globalisation exists with many interpretations- but a clear concept is often missing (HELD, David, 2000). But if we see in general definition of globalisation is that it is fr ee movement of goods, service, labour and capital across borders (HESHMATI, Almas, 2005). As this concept is not new debate globalisation was started from 18th century and now it is in second phase. Whenever the economic crisis came in world for example after World War II or 1991 the countries started international trade. The motive behind this only is economic growth. In today competitive world every country wants to compete other and want to become a rich and powerful country of the world. For example China and India they opened their gate for trade with world and they are on the top in economy growth. However globalisation is not only economic globalisation or not only social or political or cultural globalisation, in other words globalisation is a multifaceted (Daouas, 2001; Obadan, 2001b and 2002b; IMF Staff, 2002; UNDP (Nigeria), 2001, etc) (OBADAN, Mike I., 2008). The economic globalisation is the central term concept of globalisation. International trade is participating in shrink the world. For example in UK or USA you can get easily Asian food or goods, the main exports are India and Pakistan. Brazil is the worlds no.1 coffee exports and Malaysia is the worlds no.1 AC (Air Conditioner) supplier. Another example is Multinational Companies become the main careers of the economic globalisation like McDonalds, KFC and some examples of merger of MNC such as Tata Motors (India) merger with Jaguar (UK) and Tata India merger with Bangladeshi company to make bicycle for exports to USA. In 1996, there were altogether only more than 44,000 MNCs in the whole world, which had 280,000 overseas subsidiaries and branch offices. In 1997, the volume of the trade of only the top 100 MNCs already came up to 1/3 of the worlds total and that between their parent companies and their subsidiaries took up another 1/3. In the US$ 3,000 billion balance of foreign direct investment at the end of 1996, MNCs owned over 80%. Furthermore, about 70% of international technological tr ansfers were conducted among MNCs (SHANGQUAN, GAO, 2000). The globalisation mostly viewed as context of economics but it include human rights and reduce the cost of transport, labour cost, communication cost. The main influence of globalisation on the world is to reduce the poverty. For example 30 years ago countries like India and China were very poor, but today these two countries have high purchasing power more than USA or any other developed country. Impact of Globalisation Globalization has accelerated growth in the region and contributed to poverty reduction (GHANI, Ejaz and Anand, Rahul, 2009). The impact of globalisation is different on developing and different on developed countries. Brittan (1998:8) indicated that globalisation led to an increase in the wealth of developed countries and also not to bigger poverty in the developing countries. As an example of the improvement in the developing countries Brittan referred to the improvement in the economic situation in the Asian countries (MOSTERT, J, 2003). But Hak-Min (1992:2) argued against the Brittan, he mentioned that the distribution of income between developed and developing countries has become less skewed by indicating that globalisation in the integrated world economy has lead to industrial growth in a limited number of developed countries. There are number of definitions of globalisation and thousands of critics as well in this world. In June 1996 at Communiquà © of the Lyon Summit of G7 the given the statement on the impact of globalisation, In an increasingly interdependent world, we must all recognize that we have an interest in spreading the benefits of economic growth as widely as possible and in diminishing the risk either of excluding individuals or groups in our own economies or excluding countries or regions from the benefits of globalisation (MUBIRU, Edward, 2003). According to Killick (2000) a significant part of the world and a large numbers of countries are now effectively participating in the processes of integration and globalisation. In this regard globalisation may be thought of as the integration of economies through trade, capital flows and information technology (MUBIRU, Edward, 2003). Frankel (2000:2) view globalisation as being one of the most powerful forces to have shaped the world economy during the past 50 years (LOOTS, ELSABE, 2001). In past two decades world economy is rapidly growing up. The world economy growth in 2010 is rose up as com pare to 2008-2009. According to CIA since 1946 economic crisis the gross world product grew by 4.6% on the bounced of exports (CIA, 2011). It will be continuing in 2011 and 2012 as well. According to IMF report expected economic growth at about 41/2 percent in both year (IMF, 2011). Amazingly the exports boost by 20% in 2010 from 2009. The above table shows about the largest economies of the world which GDP growth rate is very high and rapidly increasing. These five countries are world main exports, for example China in manufacturing, India for service and manpower, Taiwan in electronics, Brazil for coffee and transport equipment and South Korea is for semiconductors and wireless communication. (CIA, 2011) Largest Economies GDP (%) China +10.1 India +8.3 Taiwan +8.3 Brazil +7.5 South Korea +6.1 Table : Largest Economies GDP Among large economies, China (+10.1%), Taiwan (+8.3%), India (+8.3%), Brazil (+7.5%), and South Korea (+6.1%) recorded the biggest GDP gains-China also became the worlds largest exporter. Continuing uncertainties in mortgage and financial markets resulted in slower growth in Japan (+3.0%), the US (+2.8%), and the European Union (+1.7%), (CIA, 2011). The China and India has surprised the world by their economic growth. The China has gain economy by exports of manufacturing products. For example, Australia and China free trade agreement in 2002 (MAI, Dr Yinhua et al., 2005). Country like India is main manpower and service supplier for USA. India opened the trade gate after 1991 crisis. As per previous studies of impact of globalisation is the key event in world economy. According to Akin and Kose, during this gradual process, several emerging countries have gained in economic importance and have begun to influence economic developments in other countries (FIDRMUC, JARKO and KORHONEN, I IKKA, 2009). China is one of the most important exporting and importing nations worldwide. India seems to be following the development path of China more recently (see winter and Yusuf, 2007, and Yusuf et al., 2007), although India concentrates more on services than does manufacturing-oriented China (FIDRMUC, JARKO and KORHONEN, IIKKA, 2009). From last empirical studies and data statics we got the result that globalisation has participated a lot to boost up international trade. The international trade is the fast way to boost up economy and cash flows. The countries always implement new policies and international trade policies such as free trade and export led growth. Developing countries main focus is export led growth. The researchers mentioned that export led growth as hypothesis which gives country to achieve their development goals. Before we go further first need to know what is export led growth model. After that this report will focus on a one of developing country which is already focusing on this model and gained their economy up. The chosen country is India and India is developing country and situated in south Asia. The crisis came in 1991 India was affected most in the world. After the crisis India opened their trade gates and implements some new export promotion programmes. From the time period till now India is almost successful to achieve their goals. To get better understanding on India and these export promotions discussed later in this paper. This report will also examine the strengths and weakness of programmes which India set to achieve their development goals. On the basis of past empirical studies and research this paper will suggest some possible recommendations. Further start with export led growth, on the basis of past empirical studies we will try to find the definition of this model and also will focus on to find the relationship of export led growth and international trade. Overview of Developing Economies The World Bank has divided the world economies in three parts. First is developed economies means which countrys economy is high , second is developing countries which countrys economies is growing up and last one is least developed country which means poor countries. The developing world described as Africa, Asia and Latin America as compared to industrialized world such as Western Europe, Eastern Europe, North America and Japan (NAYYAR, Deepak, 2009). The division of world economies concept came in 19th century. While the world economy was increasing up in 19th century then the second phase of globalisation was started. We already discussed above about the globalisation and impact of globalisation on world economy. The developing country such as China is the important source for the world economy. China is following by India and there are more country will be in count in further time. China and India average growth rate surprised world economy. Today almost big countries are tradin g with china. China main export is manufacturing products and India is service. Why Country Do Export In general way export is the growth engine. There are lot of benefits are involved with international trade. The main reason for trade is comparative advantage. According to Feder (1982) exports helps economy in many ways such as greater capacity utilization, economies of scale, incentives for technological improvement and pressure of foreign competition, leading to more efficient management (IBRAHIM, Izani, 2002). Due to globalisation every country wants to become on peak. For example Brazil produces coffee most in the world and India is best in natural resources and tea. Iran and Iraq has lot oil to export to world. These country exports their products on high price unless they sell their product on domestic demand. According to Monir Tayeb (2000) countries do export because they presumed to supply foreign markets because it is profitable for them to do so (TAYEB, Monir H., 2000). He also mentioned that countries also interested to do Inter-industry trade (IIT); this is one type of international trade which is mentioned by Monir Tayeb (2000). The definition of IIT is that when a country tends to export one good and import a wholly different type of good. For example UK exports whiskey and imports the Brandy. Italy exports the wine to Germany and at the same time that it also imports German wines. In other way Inter-Industry trade occurs when two countries exchange different varieties of essentially the same type of good (TAYEB, Monir H., 2000). The question is what another benefits are involve with export? The different countries have different requirements for example in poor countries they export for economic growth and developing countries interested to do with both benefits development of their countries and comparative advantage. The developed country like USA has massive production of goods and electronic products so they do export to become more beneficial. But the most important is involved with export is government policies. How country export and wh at is the barriers for trade this is always decided by their governments. As per theoretical studies we will talk about the possible benefits which are involved with exports. So first is the comparative advantage second is economic growth and third is the development of country. First start with comparative advantage: Comparative Advantage: The British economist David Ricardo (1817) invented the theory of comparative advantage. The basic concept of advantage theory was written by Adam Smith in 1766 he set brought the theory of absolute advantage. He argued that countries would tend to specialise in international trade and in particular, that they would export goods they produced more cheaply than their trading partners and import goods they produced more expensively (TAYEB, Monir H., 2000). The above table is giving the simple hypothetical example of absolute advantage. Country Whisky (Cost per unit) Brandy (Cost per unit) United Kingdom  £7.00  £8.50 France  £8.50  £7.00 Source: Monir Tayeb (2000) In the example the UK whiskey is cheaper than France and the France Brandy is more cheaply then UK, because the consumer purchase France brandy from British sources and British consumers also do same they purchase from French suppliers. The key features of international trade are specialisation and exchange. Both countries are specialising in production of goods and they are exchanging their products to get benefit from absolute advantage. This concept simply says that it is good for both nations. This is good for world economy as well. Both countries who has good production of products and they can exchange their product on free trade agreement they will be beneficial both of them because they establishing their international market. This is also good for people because they are getting products on less money. Ricardo theory is based on physical and natural influences over competitiveness, technological and human factors which were given by shortly economists. The most effective mod el of comparative advantage was Heckscher-Ohlin (H-O) theorem. This model originally developed by Heckscher (1919) and Ohlin (1933) and today as Heckscher-Ohlin comparative model. This model assumption is about capital and labour. For example Japan makes the robots to assemble the cars and other motors. The key thing is the labour is costly than compared to Japan. For example India total export in 2010 was $201 billion and total import was $327 billion in the world it shows India import goods more than export. This country is exchanging their products such as petroleum products, precious stones, machinery, iron and steel, chemicals, vehicles, apparel. The main exports partners are UAE 12.87%, US 12.59%, China 5.59%. The other thing is very important to notice is the role of government policies and financial institutions to get better advantage of comparative advantage. The studies for example Memedovic (1994) included the type of state (class base, administrative capacity and mode o f intervention) and argued that the help of the government can bring about changes in comparative advantage (SIEGFRIED BENDER, Kui-Wai Li, 2002). This is true the country do export because they have advantage of cheap labour. For example USA multinational companies have number of call centres in India. The USA average employee wages per hour is $18.00 to $22.00 per hour. But in India they are getting employee on $111 per month. India is the number one service exporter for USA. The below example is also of comparative advantage. Example: Comparative Advantage Lets quantify comparative advantage with an imaginary example. Suppose an acre of land in Canada can produce either 1 unit of wheat or 2 units of corn.3 And suppose an acre in the U.S. can produce either 3 units of wheat or 4 units of corn. The U.S. then has absolute advantage in both wheat (3 units vs. 1) and corn (4 units vs. 2). But we are twice as productive in corn and thrice as productive in wheat, so we have comparative advantage in wheat. Source: (FLETHER, Ian, 2010) The other model of comparative advantage named the specific factors theory is associated with Jones (1971). This model is only based on one factor is labour. But the H-O model considered two factors labour and capital. The below table is example of H-O comparative advantage model: Country Man-Made Fabric actual cost Opportunity Cost Cotton fabric actual cost Opportunity cost UK  £300 0.92  £325 1.08 Turkey 4500 TL 1.06 4250 TL 0.94 Source: Hecksher-Ohlin comparative advantage p.17 (TAYEB, Monir H., 2000) The above example is showing the labour cost difference between UK and Turkey. So this is also comparative advantage for the countries. Porter (1990) mentioned some competitive advantages in his study. The above are the advantages which Porter (1990) mentioned: The availability of skilled labour Locally available technology and know how Access to suppliers of key inputs Market proximity The local cost of inputs Vernons (1966) product life cycle theory is also important in trade. He determined that every product has life cycle, once product has launched it is in introduction stage, once product people used and the product become popular on domestic level. In short time the product start export to world. In the end we can say if country is interested to do export because of comparative advantage and economy growth as well. Export Led Growth In past decades there are many empirical studies has been analysed on export-led growth and world economy. The main topic for these studies was to examine the relation between exports and economic growth for example Giles and Williams (2000). Most of studies were focus on exports and GDP, but some other studies such as Hatemi-J and Irandoust (2001), Hacker and Hatemi-J (2003) and Bernard and Jensen (2004) focused on the exports and total factor productivity (TFP) growth. While these studies were focusing on Exports and GDP or TFT but studies such as Murphy, Shleifer, and Vishny (1989) were purposed the theory of Big Push industrialization1. Murphy, Shleifer and Vishny (1989) said that simultaneous industrialization of many sectors can be self-sustaining and profitable even if no sector can break even when investing alone.2 After the crisis of 1991 many Asian countries were under the recession time but countries like Thailand, Malaysia found the external way to overcome recession time . According to Felipe (2003) Since the East Asian financial crisis erupted in 1997, countries in the Asian and Pacific region have been immersed in a search exercise to identify what policies led to the crisis and recession, and what alternative set of policies would lead them back to a path of sustained and higher growth rates. The Asian countries were trying to rebalance their economy and GDP, for example Jomo (1998), Seguina (2000), Lim (2004) said that The majority view has been that the crisis was the consequence of a fundamental flaw in precrisis financial policies, which led to currency overvaluation, over borrowing, and over lending for the domestic economy; and speculative bubbles that eventually burst. The Thai government development policy was based on dual track strategy (Lian 2004). Relationships between Export and Economic Growth (Literature Review) This debate is controversy and number of empirical studies done already. Some authors suggested that open economy has positive effects on growth more than close economies (Sachs and Warner, 1995; Edwards, 1992, 1993, 1998; Srinivasan and Bhagwati, 1999; Krueger, 1997; Ben-David and Kimhi, 2000) (FREDERICO G. JAYME, Jr, 2001). Empirical evidence from developing countries support studies such as Taylor, 1993; McCombie and Thirlwall, 1999; Blecker, 1999b; Helleiner, 1996; UNCTAD, 1995 (FREDERICO G. JAYME, Jr, 2001). Trade is the key concept for the countries to grow. For example countries like Malaysia, China, India and Brazil they all are got benefits from trade. The countries do export for comparative advantage. For example Brazil is number one coffee production country and world main coffee exporter as well. The trade is the only way to right use of economys resources by imports of goods and service otherwise they have to sell at home with high resources cost. For example Ricardian m odel says that the welfare gains if any country specializes in producing goods in which it has a comparative advantage (FREDERICO G. JAYME, Jr, 2001). The Hecksher-Ohlin-Samuelson (H-O-S) model, on the other hand, shows the welfare gains, In the two-country model that each country specializes based on their factor endowments. The result of these models is that international trade is the way to achieve the international competitiveness and static productivity. International trade enable to countries reduce the transportation cost, production cost and reduce the labour cost in case of developing countries. Beck (2002) mentioned that Financial development and international trade are identified as macroeconomic variables as being highly correlated with economic growth performance across countries in the empirical growth literature (UDDIN, Md. Gazi Salah, 2005). The other example of empirical study of economic growth is Calderon and Liu (2003) says that the relationship between financial development and economic growth has now well recognized in the literature that financial development is crucial for economic growth and Chang (2002) mentioned that it is a necessary condition for achieving a high rate of economic growth (UDDIN, Md. Gazi Salah, 2005). Trade has a strong positive relationship with economic growth (Mazur and Alexander, 2001) (UDDIN, Md. Gazi Salah, 2005). Trade allows countries to set a large market for their domestic products. The two studies Prebisch (1950) and Singer (1950) about the effects of trade on income are based on two grounds First, incessant decrease in the international price of raw materials and primary commodities would lead, without industrialization in developing countries, to more profound differences between developed and developing countries. Second, for their Industrialization, developing economies require short or medium term protection of their infant industries. Furthermore, the structure of trade, under which exports are conc entrated on a few primary products and imports are constituted mostly by manufactured goods, renders developing countries overly dependent and vulnerable (RAZAFIMAHEFA, HAMORI Shigeyuki and Ivohasina F., 2003). The others author such as Levine and Renelt (1992) and Rodriguez and Rodrik (1999) emphasize on trade effects on economic growth. There are most studies done in the favour of trade effects on growth but there are some studies which are contradicted with these studies. For example Rodrik [1995] argues that in most studies of openness and growth, indicators used inappropriately reflect the trade regime (RAZAFIMAHEFA, HAMORI Shigeyuki and Ivohasina F., 2003). Edwards (1997) tests, for a data set of 93 countries, the robustness of the impact of trade on growth by introducing first alternatively and then simultaneously nine measures of openness. He said that each proxy for openness is correlated positively with economic growth and the composite index from those proxies also enters with a positive coefficient in the growth regression. Krueger (1978) study tested two hypotheses which has positive effects of openness on growth, first is more liberalized regimes result in higher rates of growth of exports, and second is a more liberalized trade sector has a positive effect on aggregate growth. Feder (1982) he analysed the set of 31 semi-industrialized count

College Style :: Education Writing Language Essays

College Style I was sitting at the bar on my favorite bar stool drinking a rather poor bottle of domestic beer. The sun was glaring off the snow on the outside world. It was dark inside, how I liked it. It was a time to collect my thoughts, a time to think the world out in a rational matter, it was time to think of an expository writing assignment. As I sat there peering through the beer glass watching the reflections off the watered down beer that appeared now more like a glass of tainted water, I noticed a few guys come in that were in my Marxist philosophy class. I waived my hand in that "nice to see ya" kind of gesture and they sat down beside me. I was a bit nervous but the courage I had from the first four beers was making me more at ease. These were the smart kids. There were four in all, two girls, two guys. They surrounded me around the bar. I began to sweat and drips of dew dropped down on to the hard plastic bar that had held up my head so many times before. I'd read their papers before . I realized they were the smart kids when reading their papers, I didn't understand what they were saying. Sure, some of the ideas were familiar but the general concepts of their papers were so ahead of my knowledge for the written word that the meaning was gone. was Now I was sitting among them, in a circle, a circle of knowledge. I was embarrassed that I was sitting amongst the greatest minds of the upper-Midwest drinking from a tainted glass with nothing more then a domestic beer. I quickly finished the drink and motioned to the bartender. "Sir," I cried, as only a intellectual could, "bring me a chardonay, spare no expense with the pretzels, and give yourself ten percent." I was pleased at my request. Certainly I would fit in now. In class the smart kids always spoke in such a manner unlike any dialect that I had known before. When the addressed the professor they used words that I didn't know existed, I flew for my dictionary but by then it was always too late. I would try to fit in this time. I swung my chair towards the semi-circle that had surrounded me. I crossed my legs as only poets and small boys can do and grinned at them.

The Time Machine and Mrs. Warrens Profession as Socialist Manifesto Es

The Time Machine and Mrs. Warren's Profession as Socialist Manifesto  Ã‚   The industrial revolution was the period of greatest economic and technological growth in modern society. Starting in Europe and spreading to the world, multiple countries experienced a new definition of efficiency and productivity. Although the growth was certainly profound, many people questioned the methods with which it was achieved and the society created from its ideals. In particular, two British Authors, H.G. Wells in The Time Machine and George Bernard Shaw in Mrs. Warren's Profession provide critiques of capitalism and industrialization. Both members of the Fabian society present pictures of a seemingly content world, which, when examined, reveal the degeneration of modern society, Shaw looking from the present, Wells from the future. Through portrayals of ostensibly prosperous worlds and the conflicts that arise between characters with differing views, both literary works successfully show the disadvantages of the new economic system and predict its destructive consequence s in the present and the future. Unlike their revolutionary communist counterparts, Fabians advocated gradual reform of the capitalist regime by working within the system. Through both emotional and logical appeal, Fabians attempted to sway the public towards greater policies of human rights and equity, creating the basis for modern leftist parties, such as the British Labour party or the democrats of the United States. Shaw and Wells, two of the founders of the party, appeal to the people through both morals and entertainment value in order to powerfully convey the Fabian cause. The Time Machine applies a vision of a disturbing, advanced world to current society, warn... ... change society, as in The Time Machine, or is just entering the social arena, as in Mrs. Warren's Profession, it is obvious what the fair and moral choice is in both literary works. No matter how they approach it, both literary works provide compelling arguments against social stratification and industrialization, providing only undesirable choices for the audience unless society can overhaul itself. The two stories provide similar critiques of any system promoting class conflicts and exploitation. However different, both present a scene of a seemingly content world, a scene that is shattered when viewed from a closer level. When applied to modern society, both present the view that although the growth of industrialization is undeniable, it is questionable as to whether society truly reached a more desirable end, given the consequences that stem from our progress.

How We Punish Offenders in Our System

Our correctional system punishes offenders, by putting them in jail, or in prison. In the early times, before prisons punishments were often cruel and torturous. The unsettling description of a man broken in half on a rack in the early 1700’s is just one of the ways crimes were punished at that time. Flogging was another. The last flogging was in Delaware on June 16,1952. When a burglar got 20 lashes. Workhouses, were an early form of prisons in the sixteenth century Europe. The Penitentiary Era, from 1790-1825, is when the first prison was started in the USA. They started with the Quakers in Philadelphia. The mass prison era started in the 1800’s and has gotten stronger today, beginning in the 1960’s overcrowding and a renewed faith in humanity inspired a movement away from institutionalized corrections and toward a creation of reformation within local communities. Prisons today, there are about 1,325 state prisons, 84, federal prisons in operation in the US. Today. America’s prison population has quadrupled since 1980. We also punish people by putting them in halfway houses, or group homes. The Federal Prison system is used for the civilians convicted of violating federal laws. Leavenworth, in Leavenworth Kansas. Today the federal systems consist of 103 institutions, six regional offices, two staff training centers, and 28 community corrections offices. Jails are another way of punishing the criminal. We can put them in a jail and hold them up to one year, before they either, get probation, or go on to a prison.

1 07 Anne Bradstreet

Part 1: Short Answer 1. Identify and explain an emotion that Bradstreet expresses in her poem that any mother might have. She is sad that her children are growing up and leaving home. 2. Read  Bradstreet's biography. List two hardships she endured throughout her life. Then, in at least two sentences, explain how these hardships might have influenced her poem â€Å"In Reference to Her Children. †Ã‚   All colonists were fighting for survival due to lack of food, the climate, ect. She was afflicted with smallpox and had very bad health.I think these hardships might have influenced her poem because maybe she knew she was going to die soon and wanted to leave them with those words. 3. Figurative language is an important element in poetry. Taking tone and style into consideration provide a simile that could be inserted in Bradstreet's poem and briefly explain your comparison. â€Å"My love for you all is sweet like sugar† This could be inserted in her poem because she loved her children very much and it’s comparing her love to the sweetness of sugar. 4. Using the poem, answer the following questions. a. How many children does Bradstreet have? She had 8 children. . How many are girls? She had 4 girls. c. How many are boys? She had 4 boys d. What did the first child do when he grew up? Her first child moved away from home when he grew up. e. Where are the last three children? Her last 3 children lived with her, as they were not old enough to leave yet. 5. What comfort is Bradstreet giving to her children by saying:  Ã¢â‚¬Å"In chirping languages oft them tell You had a Dame that lov'd you well, That did what could be done for young And nurst you up till you were strong† She wants them to remember that they had a mother who raised them until they were strong enough to live on their own.Part 2: Extended Response 1. Was Hester Prynne a heroine? Write a persuasive paragraph defending or condemning her actions. Some say that Hester Prynne was a heroine. Well, what exactly is a heroine? A heroine is basically a female version of a hero. When I think of a female hero I think of super woman, not Hester Prynne. I don’t think she should be considered a heroine because she didn’t really do anything heroic, they say she dealt with her consequences with grace. This may be true but how does it make her a hero? All she did was endure the consequences of a crime she committed.If Hester Prynne is a heroine, than woman in jails and prisons might as well be heroines too! 2. Imagine the guilt Reverend Dimmesdale must have felt. Did he do the right thing? Write a paragraph to defend or condemn his actions in keeping silent for so long. I think he felt extremely bad and guilty because he was causing harm to himself about it. However, Reverend Dimmesdale did not do the right thing. He let the secret go on for a long time while basically lying to the people. He was acting like he didn’t know who Pearl’s father wa s. He was probably scared of being treated how they treated Hester and it made it worse that he was a Reverend.