Historical Definition of Globalization Assignment

Historical Definition of Globalization - Assignment Example Nevertheless, there are other different factors that have shaped globalization and define its historical development. One such factor is political. Political systems have promoted, hindered, and regulated trade both today and in the past. Establishment of legal systems, regulatory bodies, and institutions that hinder or serve the development of international trade and solve disputes between conflicting nations has long historical roots (Wright, 2015). In addition, exposure of different regions to political systems and forces in the past was a major determinant of the growth or failure of the process of economic globalization. Case in point, Wright (2015) shows how the Mandinka and Islam contributed to the incorporation and exposure of the Niumi into the global system. The political influences of the Mandinka and Islam in the trans-Saharan trade framework contributed to the strengthening of the Niumi Polity (Wright, 2015). The Portuguese arrival further allowed for entry of the Niumi into trade across the Atlantic complex. Non-economic globalization can also be defined in the form of social and cultural integration. There are four streams of current global culture which have significant historical roots: global academic culture, global business culture, popular religious culture, and popular secular culture (Wright, 2015). Social and cultural interactions have led to the development of a global civil society in which individuals and communities share social and religious perspectives.

Do you know who Paul Robeson is Assignment Example | Topics and Well Written Essays - 1250 words

Do you know who Paul Robeson is - Assignment Example Robeson’s mother, Maria Louisa Bustill came from a well known family of mixed ancestry consisting of Anglo-American, American and Lenape. She died from a house fire when Robeson was just 6 years of age. Robeson’s other siblings were: William Drew Robeson II, Rev. Benjamin C. Robeson, Reeve Robeson and Marian Robeson (Boyle and Bunie 13). Education and Early Life Robeson’s father held a strong belief that African Americans were as good as their whit counterparts. He instilled in his children this notion and made sure that they attended the same schools as white children. Robeson attended Somerville High School in New Jersey where he graduated with honors in 1915. While at the school, he participated in various activities such as acting, singing and athletics (Dorinson and Pencak 23). His academic excellence and activities in school earned him a full academic scholarship at Rutgers University. Being accepted on scholarship at Rutgers was a great feat for the young Robeson since there were only two other African Americans who had achieved the same. He was the only African American student in the university or the whole duration that he was at Rutgers. While in his third year, he became one of the only three classmates to be accepted into the Phi Beta Kappa fraternity. In 1919, he was one of the four students who were selected in the Cap and Skull honor society (28). Robeson continued to be involved in school activities while in Rutgers where he participated in debate and oratorical contests. He was the recipient of the statewide debate contest prize for four straight years (Foner 33). Robeson was also an avid singer and he was part of the campus Glee Club. However, because of the racist environment at the time, he was not allowed to travel with the group for social events and performances. Another hindrance he faced as a result of the racist climate during his studies was being denied the chance to enjoy the festivities of the universityâ€⠄¢s Philoclean Society, even though he was a duly elected member of the literary society (Boyle and Bunie 100). Just like when he was in high school, Robeson was also an all-rounder in campus. He was an excellent sportsman at Rutgers where he took part in American football, basketball, baseball and athletics. His participation in these sports earned him some 15 varsity letters. In football, he played the end position and he was so good at it that he earned himself a name in the first team All-America in 1917 and 1918. He became the first student and player from Rutgers to reach that feat (Duberman and Bauml 20). Despite his prowess in the game of football, Robeson faced numerous racial episodes, for instance when some Southern teams declined to play with a team that had an African American in the lineup. However, this did not deter him and he is considered by many to be one of the greatest football players of his time (22). Robeson was the valedictorian in his 1919 graduation class. Historians have always praised his academic and athletic excellence that few others can measure up to (Larsen 35). After graduating from Rutgers, Robeson enrolled in the Columbia Law School. To pay for his education at Columbia, Robeson worked as an athlete and a performer. He played for the Akron Pros and the Milwaukee Badgers, teams that were part of the American Professional Football Association, which later cam to be known as the National Football League. He also played

Belonging Notes Essay Example for Free

Belonging Notes Essay †¢ Different environment atmosphere contributes to our sense of belonging. †¢ Adapting after a while strengthens the sense of belonging, knowing the place a bit, feeling comfortable. †¢ Shifting back to civilization, feels out of place, not belonging, shifting in with different surrounding. †¢ Upbringing places a part in our sense of belonging †¢ Technology-internet-find someone with the same interest and sense of belonging kicks in. E.g. Facebook, Twitter, Bebo, Myspace. †¢ Perspective of others shifts our sense of belonging †¢ Obstacles and struggling creates a feel of not belonging and break apart a sense of security. †¢ Enjoyment and change of attitude (positive) helps build sense of belonging. †¢ After being placed in a different place, conditions, our experience alters our sense of belonging Example: Going on holidays and returning home, takes a period of time to feel the feeling of belonging again. †¢ Preparation doesn’t help with the sense of belonging. †¢ Being familiar to the way and knowing the comfort zone (when you are at a place you don’t know/never been to) supports sense of belonging. †¢ Stereotype media acceptance only through appearance- determining whether you belong or not. †¢ Belonging is a choice. †¢ Knowledge and stereotype makes others feel like they don’t belong. †¢ No desire to change belonging †¢ Belonging is a journey †¢ Individuals don’t feel like they belong due to self and the desire to not change. †¢ Belonging is everywhere, what you wear makes you belong to a certain brand, it all comes down to you whether you want to belong who wants you to belong. Remember along with â€Å"belonging† there is always â€Å"isolation† that follows. Responses †¢ Stronger responses shows the relationship/ significant between texts. †¢ Why do people do the things? – REPRESENATION e.g. why does the characters do those actions/ Why has the author/ artist/ producer make or use certain  techniques instead of the others. * Choice of language, form, features and structure shape the meaning and influence responses. The choices are affluent by a composer’s sense of belonging. †¢ How is the concept of belonging conveyed through the text, people, relationships, ideas, places, events and society? †¢ Does it make a difference where the character belongs? †¢ Share some values of feelings -understanding a world in a different way shape in a peculiar way, different society- assumption to being Australian. †¢ Possibility present by a sense of belonging or not belonging Perception †¢ How an individual perception of belonging or not can vary, is shaped by his/her personal, cultural, historical and social context. ASPECTS OF BELONGING: †¢ Experiences †¢ Notion of identity †¢ Relationship †¢ Acceptance †¢ Understanding FORMULA TO ANSWER QUESTIONS: †¢ Identify †¢ Exemplify †¢ Explain †¢ Extrapolate SHORT STORY!: †¢ Do not abuse the concept of belonging too strongly †¢ Don’t use the word belonging †¢ Exclusion, acceptance, struggle †¢ Keep it simple, focus on the concept †¢ IMAGERY!- BOLD, CREATIVE COMBINATIONS TO ACHIEVE ORIGINALITY †¢ Simile, metaphor or personification †¢ SHOW DON’T TELL †¢ Short story-hook reader in the first two lines, straight into action †¢ Explode a moment, two characters, one setting †¢ READ SHORT STORIES †¢ Turning point-climax-should not be death-with too quick-carefully state the relationship. TWISTA TALE †¢ Dramatic beginning †¢ AVOID-irrelevant background info on your character †¢ Character should be revealed through dialogue and actors. †¢ Avoid: lots of internal dialogue †¢ Use experience of own †¢ Close to own world-reflect truth (you can utilize jargon to add a little touch of truth.) †¢ Use paragraphs! †¢ AVOID romance (genre) Fantasy†¦ YOU HAVE 40 minutes to WRITE A DECENT STORY! †¢ Allow the audience to add to the story †¢ DO NOT CONCENTRATE ON THE PLOT – YOU WANT TO SHOW BELONGING! †¢ Recommended to be 4 PGS †¢ Note: The creative writing section to Paper One does not have to be a narrative. EXAM †¢ Have at least two great storylines YOU CAN TWIST to suit any type of belonging questions. †¢ Remembering a story can be risky especially if you walk into the exam and through the reading time, you might have a panic attack. Dos DON’Ts †¢ Let the Q drive and shape your response †¢ Blend your understanding of belonging with the question †¢ DON’T put the questions in your introduction †¢ Thesis or statement throughout response – A MUST †¢ Use the text to support or challenge the thesis or concepts †¢ SPECIFIC TOPIC+ ATTITUDE/ANGLE/ARGUMENT=THESIS †¢ What you plan to argue +how you plan to argue it=THESIS †¢ DO NOT RE-COUNT OR RE-TELL TEXT †¢ ANALYSISEVALUATE TEXT †¢ NO OPINION FOR READERS ESSAY STUFF 1. Thesis-map guide reader 2. Connection between text, comparison or pattern 3. Techniques and contrasts 4. Use cohesive devices E.g. similarity, by contrast, parallel 5. Use topic sentences 6. Support all statement with references to text 7. Vocab for belonging – the better your vocab and structure contributes to an AWESOME MARKS! 8. Quotes + short quotes support what you say, don’t put any quotes that does not support thesis. (Short quotes are best, try to integrate them in your sentence they are easier to remember – it’ll provide the flow for the reader/marker when they are reading†¦. Remember they are reading a trillion PAPERS with some hideous handwriting.) Related pieces FILM †¢ JUST FIND ONE PART OR SECTION TO ANALYSIS †¢ PICK TEXT THAT MAKES READER STAND UP-FIND OWN †¢ Integrate the HOW techniques+ make it personal †¢ Don’t try to write everything down: capture key points †¢ 3-5 related pieces recommended BUT THREE SHOULD BE MORE THAN ENOUGH! Things to remember when choosing your related texts: †¢ Try and get a variety of different types. E.g. If you are doing a novel, go searching for a visual piece such as a film or artwork or a picture book. E.g. Frida Kahlo, Kathe Kollwitz. †¢ QUALITY: Do something that you know not many people will do; YOU WANT TO STAND OUT OF THE CROWD and show the markers you know your stuff. †¢ Make sure you can connect your text to belonging†¦ REMEMBER it does not have to be similar to your prescribed text as long as it has some sort of representation of belonging. †¢ Does it play your strength? Try to do something you are passionate or interested in. You will do so much better. †¢ DO NOT FORGET YOUR THESIS! SHORT ANSWERS †¢ Be Specific †¢ Can capitalize on other answers to answer another question. †¢ WRITE ACCORDING TO MARKS – if it id worth two marks DON’T write HALF A PAGE! †¢ TIMING- BALANCE!!! †¢ In this section LOOK for anything that symbolizes a connection, affiliation, relationship AND OF COURSE BELONGING! †¢ Main questions are HOW? WHAT? 11 points concerning belonging 1. Family 2. Friends 3. Belonging to place/national identity 4. Race 5. Religion 6. Political 7. Profession 8. Lifestyle 9. Learn spirit shared identity When studying for English. †¢ HAND WRITE!!! †¢ TIME yourself †¢ Find a quiet environment where you will not be disturbed for a certain time. †¢ PRACTICE! Break down the paper if you want †¢ Get any questions on â€Å"Belonging† pick up your pen and WRITEWRITE! †¢ The teachers are there for a REASON SO USE THEM- this goes for all subjects! If you don’t understand something shovel your hand up in the air, it is likely that others don’t understand it too OR chase after them at recess/lunch. †¢ Place quotes around the house like a crazy person on colorful cardboard and stick them around the house WHERE YOU KNOW you will always see them. †¢ When you have time do not leave it to the last minute. Grab your notes out and start cutting it down. It is a killer when you have to do it A WEEK before the actual HSC exams. †¢ If you know your stuff, you should be confident in crashing and burning the HSC AOS English paper!

Essay --

Mao Zedong was born December 26, 1893 and lived until September 9 in 1976 when he died in Beijing China. Mao Zedong died from the Motor neuron disease. Mao Zedong was born into a peasant family in the place Shoshanna near Hunan. During the years of 1928 throughout 1931. Mao Zedong and others that worked with Mao Zedong established armies in the hinterlands and created the Red Army which was known as the most feared â€Å"army† in china during the time of the revolution. During the Cultural Revolution Mao Zedong , people also knew him as Mao Zedong Tse tung was the Chinese ruler. He ruled the country during this time known as Chairman of the Communist Party of China. Moa was very well educated in Western and Chinese traditions. During the year 1918 Mao Zedong had a job as a librarian assistant at Peking University. He would call himself a Marxist in the of 1920 and he helped found the current Chinese Communist party Communist formed an alliance during 1923 with a man called Sun Ya sen and his Nationalist party. After that Mao Zedong quit the current job he had as a teacher to become a poli...

How does adolescence mark a change in thinking and experience? Essay

Inherent in the study of human behavior is the basic comprehension towards the life cycle. This life cycle appreciates the stages which every human being shall pass beginning at birth and ending in death. With these views, theories are made with the three major assumptions in mind: First the essential premise to the varieties of life cycle theories proposes that there is a sequential order of development that is successive and clearly defined. Second is the assumption that each individual stage or period comprises of events or crises that need to be resolved for the development to progress in a smooth manner. This is termed as the epigenetic principle. Whenever an individual fails to attain a resolution to a particular crisis or event, the subsequent periods will manifest that failure in such modes as the individual’s cognitive, physical, social and emotional maladaptive behavior. Thirdly, while these stages occur in sequence and contain events or crises that the individual needs to resolve, each stage however, reflects a â€Å"crisis point’ that makes each phase distinct from either of its preceding and succeeding stages. ~Nature and significance of the study Erikson is a key figure in the study of developmental psychology. He is instrumental with the current understanding of the different stages of a human life span. This research work is a product of the attempt to expand on the understanding of Erikson’s major work with the integration of several others who are instrumental to a more updated and comprehensive appreciation of the changes and growth that proceed to the development of an adult personality specifically focusing on his emotional and social maturity. Discussion Perspectives in psychology and philosophy in general, are developed to help explain and shed light on various human behaviors that not only boggle and are difficult to understand. There are controversies that ensue and these also make interventions difficult at the same time. Development does not end once a person reaches maturity, but continues throughout life. Developmental psychologists seek to describe ad analyze the regularities of human development across the entire life span. It focuses primarily on these aspects of development that make us similar to one another. In order to thoroughly appreciate the changes that are happening to a young person specifically pertaining to the social and emotional aspects, the following discussion of the theoretical perspectives are undertaken. Erikson’s psychosocial stages: Adolescence & Early Adulthood Erikson identified the period of adolescence with a corresponding challenge to achieve a sense of identity. Adolescents need to leave behind the carefree, irresponsible, and impulsive behaviors of childhood and to develop the more purposeful, responsible, planned behaviors of adults. If the individual is successful in making this change, he will develop a sense of confidence and a positive identity. If he is unsuccessful, he will experience role confusion, which will result in low self-esteem and become socially withdrawn. This concept assumes that in general, children will progress towards adolescence with the all-important development of establishing his identity and those problems that normally are encountered around this stage basically are related around the individual’s search for identity. Identity formation is essentially known to be identified with the period of adolescence. However, even Erikson admitted that adolescence sometimes is prolonged or takes longer years of the â€Å"extended identity exploration,† Arnett noted. Social and physical development affecting the expansion and constriction of their world from infancy through older adulthood Social and physical development during the stage of infancy constricts the infant’s life because of the child’s inability to walk yet as well as their inability to associate well because of immature brain development which lasts until the person reaches the age at approximately 20 years old. Understandably social and physical developments start to increase during childhood, adolescence and middle adulthood in contrast to the infant. However, starting when the child reaches childhood, his/her world starts to increasingly expand as his motor skills develop and physical capability enhances. This goes on in largely intensified and greater results when the child enters the adolescent period until the person reaches the senior years and pace is affected considerably. The person’s social world constricts primarily because the physical limitations understandably inhibit the person and consequently isolates the person. Older adulthood similarly possesses the same characteristics of that of an infant and toddler because the genes dictate when these traits start to emerge. The concept of Growth goals In the study by Bauer and McAdams, these activities and behavior reflect the growth goals, both intrinsic and exploratory, that are necessary for them to develop eventually. This is called peer pressure and although many children pretend to keep their cool, almost all of those who are at this developmental level have their share of frustrations from the influence of other individuals that surround them. Peer pressure is inevitably tied up with the differences of culture and beliefs and when a particular child or young person emerges with the understanding that these experiences are necessary for them to ultimately be enabled to face many more troubles to come. It cannot be underestimated. Because of the major biological changes that their bodies go through, they tend to be flooded with overwhelming emotions that at most times make them confused. These biological changes include the normal maturation or unfolding of genetic characteristics marking the start of puberty. Because of the hormonal changes accompanying puberty, the child’s moods and behavior are often affected. The issues that surround emerging young adult include the individual’s adaptation to his body’s biological changes, struggle for autonomy, and peer influence. These are some of the important concerns that an adolescent individual faces. Biological changes entail awareness of the transformation that is occurring in the person’s body. Since an adolescent is passing through a physiological transition, and because the transformation involves the appearance, this is a major concern for any adolescent. In the teen’s struggle for autonomy, there is a mounting tension between parents and children of adolescent age because the latter prefers to think that he/she is capable of a lot of things and are allowed a greater amount of liberties. However, this becomes a source of frustration and conflict by both parents and children due to the latter’s inconsistencies. Furthermore, the shift from parental influence to peer influence is one of the major changes both the parents and teenagers have difficulty facing. Implications According to Piaget, individuals at this stage have developed the ability to form â€Å"hypothetical-deductive reasoning. † Children think that they already have knowledge and some experience, and believe capable to think logically; able to judge certain matters well. Though this may be true, recent findings in brain research show that adolescent emotions overcome rationality or despite some existing facts that should also be weighed, their feelings override reasoning. Teenagers make rash decisions which may or may not harm him/herself. According to an explanation on Piaget’s formal operations stage, an individual may consider many possibilities in life, may be able to successfully handle crisis at most times, as well as analyze existing assumptions. In addition, a research done by Flavell, mentions the accumulation of experiences which may accordingly influence the decision making processes. For adolescents, decision-making capacity is more critical due to these important considerations. This is accentuated based on recent brain researches. Adolescents make rash decisions due to the interference of emotions in their reasoning process. Neurobiological experts suggest that the adolescents’ immature brain development may actually let emotions obstruct or â€Å"override reason†. This explains a lot why teens become very emotional inspite of the facts presented before them. If parents only become conscientious during the early formation or fundamental stages (birth to seven years old), they should continue to be there with their teens in the puberty years and help with the transition. Bibliography: Arnett, Jeffrey Jensen, 1998.Learning to Stand Alone: The Contemporary American Transition to Adulthood in Cultural and Historical Context; Human Development 1998; 41:295–315 University of Maryland, College Park, Md. , USA Arnett, Jeffrey Jensen, Emerging Adulthood: A Theory of Development From the Late Teens Through the Twenties. University of Maryland College Park Arnett, Jeffrey Jensen, Kathleen D. Ramos, and Lene Arnett Jensen Ideological Views in Emerging Adulthood: Balancing Autonomy and Community Journal of Adult Development, Vol. 8, No. 2, 2001 Bauer, Jack J. , & Dan P. McAdams. 2004. Growth Goals, Maturity, and Well-Being. Developmental Psychology American Psychological Association, Inc. , Vol. 40, No. 1, 114–127 0012-1649/04/$12. 00 DOI: 10. 1037/0012-1649. 40. 1. 114 Berk, Laura. 2007. Development through the lifespan. (4th ed. ) New York: Allyn and Bacon. Eisenberg, Nancy, Ivanna K. Guthrie, Amanda Cumberland, Bridget C. Murphy, Stephanie A. Shepard, Qing Zhou, and Gustavo Carlo. 2001. PERSONALITY PROCESSES AND INDIVIDUAL DIFFERENCES; Prosocial Development in Early Adulthood: A Longitudinal Study. Kaplan, Harold and Benjamin Saddock. 1991. Synopsis of Psychiatry: Bhavioral Sciences, Clinical Psychiatry. 6th ed. Williams & Wilkins. Luyckx, Koen, Luc Goossens, and Bart Soenens. 2006. A Developmental Contextual Perspective on Identity Construction in Emerging Adulthood: Change Dynamics in Commitment Formation and Commitment Evaluation, Developmental Psychology 2006 by the American Psychological Association. Vol. 42, No. 2, 366–380 0012-1649/06/$12. 00 DOI: 10. 1037/0012-1649. 42. 2. 366 Morris, Charles G. & Albert Maisto, 1999. Understanding Psychology. 4th ed. Prentice Hall,

Analysis Of Oryx And Crake By Margaret Atwood - 1321 Words

Ethics is differentiating between good and evil, between the right and wrong human actions, and between righteous and unrighteous characteristics of individuals. Having said that, ethics plays a significant role in Margaret Atwood’s novel, Oryx and Crake. The world in which Oryx and Crake are presented differs from our own. The lifestyle throughout the novel demonstrates the value and importance of ethics in one’s life and how it can effortlessly lead to a tragedy. In the novel, Margaret Atwood focuses on the excess of the lack of moral responsibility and freedom showing that as much as science can help a person, it can also destroy them if we do not have ethical limits and society’s satisfaction. In addition, Atwood illustrates the final disaster when the novel’s antagonist, Crake, uses both his scientific intellect shared with his ethical depravity to attempt extinguishing and then recreating, the entire human race. Meanwhile, on the other hand, the stor y’s protagonist, Jimmy/Snowman, gradually reveals a world of segregation and isolation for those who possess either artistic compassion or appreciation. Nonetheless, solidarity with other human beings is the first step to the development of ethics. It is not explicitly mentioned, however, one can conclude that companies are frequently the number one control and power in the world. Evidence of this is presented throughout the book. Jimmy spends his life living in corporate compounds, like many other characters, both JimmyShow MoreRelatedAnalysis Of Oryx And Crake By Margaret Atwood2021 Words   |  9 PagesMargaret Atwood expression on her views with education in her book Oryx and Crake shows the conflicting battle between two disciplines; science vs. humanities. Atwood describes sciences and humanities by dividing between social aspects as well as how they are viewed in society and how our education places us in this society. In Oryx and Crake, Atwood uses the terms words person and numbers person to describe the intellect of a person that places them into a category that ultimately shapes howRead MoreAnalysis Of Oryx And Crake By Margaret Atwood1861 Words   |  8 Pagestesting and electronic surveillance. Every citizen of t he United States of America has the right to privacy, but companies and cooperation, hackers, and even the U.S.A government have been violating those rights. In the fictional novel Oryx and Crake by Margaret Atwood there was very little privacy because employers kept constant tabs on their employees to keep them from disclosing information. Every citizen in the United States of America should care about their privacy being violated because. InRead MoreAnalysis Of Oryx And Crake By Margaret Atwood1383 Words   |  6 Pages In â€Å"Oryx and Crake† by Margaret Atwood, we are able to look at the parental relationships of Jimmy and how his relationship with his parents affected him. Jimmy comes from a family that could be described as dysfunctional. His mother is depressed and neglects him while his father is carefree, takes things lightly, but also neglects him as well. Due to the negative relationships with his parents, it has affected him in a negative way that will affect the way he forms relationships in the futureRead MoreAnalysis Of Oryx And Crake By Margaret Atwood1979 Words   |  8 Pagestribulations of life. Oryx and Crake, by Margaret Atwood, is a novel about a post-apocalyptic world in which the scientific approach to the world clashes with a more naturalistic approach. Crake represents an idealistic view of the world shown by the way he strives for perfections. He believed that in their current form, humans were far from perfect because of the undesirable traits they possessed and devoted his life to fix this inherent problem in humanity by creating the Crakers. Oryx displays an optimisticRead MoreAnalysis Of Oryx And Crake By Margaret Atwood1619 Words   |  7 PagesIn the novel Oryx and Crake by Margaret Atwood, the protagonist, Snowman, lives in the aftermath of a society that was controlled almost entirely by pharmaceutical companies. Snowman, who used to be known as Jimmy, lives in isolation as the human population has been wiped out by a disease that was spread through a drug meant to prevent aging. This was at the hand of his boss and childhood friend, Crake, who wanted to make way for a new race of genetically engineered humanoids that are designedRead MoreAnalysis Of Fahrenheit 451 By Ray Bradbury And Oryx And Crake By Margaret Atwood1660 Words   |  7 PagesThroughout the novels, Fahrenheit 451 written by Ray Bradbury and Oryx and Crake written by Margaret A twood, family plays a large role in the flow of the plot. It is throughout both novels where one can see how great an effect familial ties and expression have on the way a single family works and how these workings are a smaller reflection of what society sees as its average. Without family structure and a way for one to express themselves society would not be able to function. What is the trueRead MoreOryx and Crake by Margaret Atwood1014 Words   |  4 PagesThe concern about the condition of the world today is an ever present debatable issue in our current society. In the science fiction novel Oryx and Crake by Margaret Atwood, the author as put by Jayne Glover in critical analysis â€Å"Human/Nature: Ecological Philosophy in Margaret Atwood’s Oryx and Crake†, Atwood â€Å"speculates on what the near future may be like considering the realities of contemporary environmental, social and political issues† (Glover 50). Atwood’s novel specifically focuses on theRead MoreIs It Real?1433 Words   |  6 PagesJimmy constantly questioned his surroundings; â€Å"is it real†¦?† (Atwood 269) became a reoccurring theme. Over a game of virtual chess one day Jimmy asked, â€Å"why don’t we use a real set, the old kind with plastic men?† To which crake later responded, â€Å"the real set is in your head.† (Atwood, 93) These seemingly unimportant debates among friends, proved to be a small part of the problems apparent in our modern society. Atwood has drawn to attention the idea that the world in which we live is no longer realRead MoreEssay about Self Discovery in Margaret Atwood’s Oryx and Crake2273 Words   |  10 Pageswith the self. â€Å"Oryx and Crake† is a novel by Margaret Atwood that demonstrates how certain intriguing, distinctive characters develop themselves. Her novel demonstrates how there is no simple way of discovering oneself, but rather a combined method. Margaret Atwood’s book Oryx and Crake demonstrates that both the constituted and atomistic methods of self-discovery must be practiced to fully understand oneself. The captivating characters and people in her book Oryx and Crake demonstrate this.

Study On The Main Determinants Of Bank Failure Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1094 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? During the last decade, banking industry has become highly competitive, resulting in many banks to use aggressive strategies in order to survive or maintain their respective share in the market. This tendency of these financial institutions to become more aggressive when confronted with competitive pressures has led many banks to fail. Banking industry has gone through significant changes and is continuing to undergo major structural alterations. This dynamic structure results in an uncertain environment for the industry. The recent financial crisis has raised a large number of concerns about the strength of the current banking system to provide stability to the financial markets. Banks taking too much risk are highly prone to fail. Banks may fail if equity is insufficient to provide a safe cushion to write down any non-performing loans. Before recent financial turmoil, banks were more concerned about their profitability. They attempted to maximize profits t o increase shareholders wealth by increasing their financial leverage. A large deposit base provided for high financial leverage for banks, while their equity cushion continued to diminish. Most banks were using a ratio of more than twenty times debt compared to their equity. Low level of equity provided a very small cushion for the banks in case of a financial turmoil. A bank with three percent equity could suffer a loss of all its shareholders wealth if it lost just a minor fraction of its loan assets. For example, bank with an equity base of 10 billion pounds and a loan base of as high as 300 billion pounds, would have lost all its equity with a decrease of 3.33 % in the value of its loan assets. Banks need to manage their liquidity risk with extreme caution. A bank that maintains to little liquid reserves can go bankrupt if it fails to meet its obligations on time. These obligations include payment on demand deposits and interest payments to depositors holding cash in thei r saving accounts. If the bank is holding too little cash, it can usually borrow money through inter-bank borrowing at the federal funds rate. However, at times of financial crisis the liquidity of the market could be low. In the recent financial crisis rumours about bank failures resulted in a run on banks. Depositors wanted to withdraw their money before a suspected bankruptcy. On a usual day banks only anticipate a certain maximum percentage of funds to be withdrawn and hence they maintain cash to meet regular operational needs. However, in case of a run on banks all depositors simultaneously appear at bank counters to withdraw their deposits. Such a panic situation can result in bankruptcy of any financially sound bank in a matter of hours. Liquidity risk requires active management, as too much liquidity can be as much of a problem as is too little liquidity. Banks operate in a highly competitive environment and they are always competing for deposits. Those banks that prov ide higher interest rates relative to competition are able to attract more deposits and thereby expand their operations. Those that provide low interest rates suffer the risk that depositors will withdraw their funds to banks, which pay a higher return. To provide a higher return a bank needs to make profitable loans to other parties. Extending loans for businesses and for consumers restrict the liquidity of the banks. Therefore, there is a trade-off involved and the management has to choose the optimum level between return and liquidity. An economic crisis results in high levels of unemployment and can cause the non-performing loans to increase significantly. Lack of diversification into various asset classes in financing loans can result in major bank failures. During the recent banking crisis, subprime lending was at its peak. A component that lacks diversification was the subprime mortgage lending. A large number of mortgagees were speculating on housing prices and did not ha ve sufficient means to pay the dues. Banks were lending on zero down payment options where the mortgage holder had a call option to exercise. If housing prices increase, the mortgagee can sell the house, pay the mortgage amount and make a profit without any investment. However, if housing prices go down the mortgagee only lost the payments made already, which acted as an option premium. As the housing market collapsed, the losses were to be borne by the banking industry. Mortgages are pooled together to form collateralized mortgage obligations. These securities make mortgages from illiquid investments into liquid securities that sell in the secondary market. The high interest rates paid on mortgages and the liquidity feature of the securities attracted investors to invest trillions. The high demand for mortgage-backed securities in turn resulted in too much capital availability to create excessive low quality mortgages. As economy staggered and unemployment increased a high rate of mortgage default created the subprime crisis resulting in many banks to fail. As competitive pressures, increase only banks with high level of efficiency can survive. Larger banks enjoy both economies of scale and economies of scope. In an economic downturn, small and medium banks cannot maintain their net interest margins and tend to respond weakly to competitive pressures. Therefore, in an attempt to survive banks initiate mergers and acquisitions. Through mergers, these banks aim to improve efficiencies and reduce costs in order to improve their net interest margins and survive the hard times. Mergers do not always attain their desired goals. Many times the managements do not get along well, at other times the estimated synergies of the merger tend to be overestimated. Also, valuation models could have been erroneous resulting in huge write down of goodwill assets in the years to come. This can also wipe away the equity of the bank and eventually cause a bank to fail. Banks seek to maintain an active match between their assets and liabilities. A large gap between assets and liabilities can result in adverse movements. If a bank has a positive gap, its assets are more interest rate sensitive than its liabilities. The goal of banks is to maintain minimum interest rate exposure and keep the gap at a minimum. At times bank management can get more ambitious and take bets on interest rate movements. In this case, an unexpected movement in interest rates can be disastrous for a bank. In conclusion, a bank can fail due to various reasons mostly because of poor risk management techniques. Banks could be lending aggressively and create a large pool of subprime assets or they could maintain too little liquidity to meet their obligations during a financial crisis. All these reasons together can cause a bank to fail. Don’t waste time! Our writers will create an original "Study On The Main Determinants Of Bank Failure Finance Essay" essay for you Create order