Aldous Huxley Essay -- essays research papers

Aldous Huxley Aldous Leonard Huxley: English novelist, essayist, critic, and poet. On July 26, 1894, Aldous was born of Leonard and Julia Huxley in England. The infamous Huxley family possessed both scientific and literary fame throughout Europe. As a teenage, Aldous developed a bizarre eye disease which left him blind for over two years. This traumatic event changed Aldous's career as a medical doctor to a writer instead. "†¦I should infallibly have killed myself in the much more strenuous profession of medicine." But he was used to work, even in the literary world. During the 1920's, he lived in Italy and France, and then immigrated to the United States in 1937. Huxley's own experiences made him stand apart from the class into which he was born. Growing up, he was seen as different, showing an alertness, and intelligence, a superiority. He was a respected and loved individual. He felt that heredity made each individual unique, and the uniqueness of the individual was essential to freedom. His feelings and emotions are displayed in his work, Brave New World. Like his family, and the Alphas of Brave New World, Huxley felt a moral obligation to fight the idea that happiness could be achieved through class. When Huxley was 14 years old, he experienced a traumatic loss in his life; his mother died. One can see his loss and his sense of the transience of human happiness in Brave New World. As mentioned before,...

P3 Equality, Diversity and Sociological Perspectives

UNITE 2: EQUALITY, DIVERSITY AND SOCIOLOGICAL PERSPECTIVES P3 In this task, discrimination will be defined, levels of discrimination and its clear knowledge and understanding of the consequences. The potential effects of discrimination on service users in Dungrowin House will be described. These discriminatory practices on service users’ motivation, self-esteem, behaviour and opportunities will be looked at. Discrimination could be define as single out a particular person or group for worse or better treatment than others, according to Penguin Group dictionary (2004).It is against the law to discriminate service users in Health and Social care. According to Stretch and Whitehouse (2010), discrimination is when one person treats another person or group unfairly, by not giving them equal treatment based on their prejudice. There are other ways in which service users can be discriminated against. These could be age, class, culture, gender, health status, race, religion and sexual ity. Discrimination can occur in all this forms. In Dungrowin house, both the practising Jew and HIV positive service users are being discriminated against. Similar essay: Equality and DiversityThe service users suffer discrimination based on their culture and health status. Most of the nursing staffs in Dungrowin house may not be comfortable with the practising Jew or the HIV positive service users and may discriminate against them. There are three levels of discrimination that service users have suffered in Dungrowin house. They are individual level, institutional level and cultural level. These discriminatory practices have potential effects on the service users in Dungrowin house. Individual level discrimination: This happens where a person is single out and treated differently, negatively.This may include violence, insults and exclusions. In Dungrowin house, service users may suffer this level of discrimination especially the practicing Jew and HIV positive service users. The practicing Jew may be excluded from service users’ activities, will not be given his/her kosher meal, will not be given the chance to practice his /her faith and many more. For the HIV positive service user the attitudes of the nursing staffs will be negative, will insult him/her for contracting the disease and no one may be willing to get into contact with him/her.Institutional level discrimination: This happens where organisation or institution systems and practices exclude certain groups or persons from accessing its resources. In Dungrowin, there is that level of discrimination. This is because it is a residential care home for the elderly. This means if you are not elderly you cannot be treated. They discriminate against age. Cultural level discrimination: This happens when people absorb the values, beliefs and ideas deeply that they do not challenge negative stereotypes or behaviours. They tend to accept the discrimination to normal or okay.In Dungrowin house, the practicing Jew and HIV positive service users will just accept the discriminatory practices to be normal. This could be the fact that they have complained about the nursing staffs bad practices or abuse and nothing have been done by management. Service users will just have to accept what they go through at the hands of the nursing staffs. According Rasheed, Hetherington and Irvine (2010), there are two types’ discriminatory practices. They are direct (overt) and indirect (covert). Direct discrimination is usually quite clear, obvious and straight to the abuser.For example, in Dungrowin house nursing staffs will tell the HIV positive service user it is his/her fault that he/she finds him/her self in that situation (verbal abuse). The practicing Jew will be told he/she is having what everybody is eating. Indirect discrimination is difficult to prove, it may occur when people seem as though they are being treated alike. This got to do with bad attitudes and body languages. For example, in Dungrowin house the HIV service user will always be treated with gloves and the nursing staffs will be avoiding im/her (non-verbal communication). With t he practicing Jew, he/she will be excluded from service users’ activities without notice. All of these discriminatory practices have potential effects on service users’ motivation, self-esteem, behaviour and opportunities. Discriminating against service users does not motivation and self-esteem. It will discourage them from recovering from their illness. In the case of the HIV positive and practicing Jew service users, since they are discriminated against in Dungrowin house they have low or no motivation and self-esteem.No one wants to come close to them, use abusive language at them and are denied their privileges in Health and Social care. This discrimination against them will affect service users behaviour. In the case of HIV positive and practicing Jew, they may threaten to commit suicide or self harm. They may be angry with themselves as to why this is happening to them. Since service users are discriminated against their opportunities are limited. The HIV positiv e and practicing Jew service users are denied of their rights and abuse in all situations.They have no choice of how they are suppose to be treated. Discrimination was defined to be singling out a particular person or group for worse or better treatment than others. People or person can be discriminated against for being different. This could be in terms of their age, class, culture, gender, health status, race, religion and sexuality. There are three levels of discrimination. Which are individual level, institutional level and cultural level. There are also two types of discrimination, direct (overt) and indirect (covert).Discrimination has potential effects on service users and should be discouraged at all levels not just in Health and Social care. Nursing staffs should follow the care value base, policies and legislation provided by their association, agencies and the government. It is against the law to discriminate against service users. BIBLIOGRAPHY ? Strech B, Whitehouse M (2 010). Health and Social. Essex: Edexcel. ? Penguin Group (2004). Pocket English Dictionary. London: Penguin Books ? Rasheed E, Hetherington Alison and Irvine J. (2010). Health and Social Care. London: Edexcel.

Personal Assessment and Career Development - 1422 Words

Term Project Personal Assessment and Career Development Michael Jennings PSYC305: Motivation and Leadership Instructor: Russell Winterbotham April 22, 2009 Self Awareness: Values Values are basic convictions of what is right, good, or desirable. The values that are most central and critical to how I approach work would include self-respect and security as my terminal values. For instrumental values, I rate truthfulness and dependability very highly. I base this value structure in terms of my career aspirations. Specifically, to the degree that I think my values align with those of successful people in the field to which I aspire. And the conflicts, if any, that I see between my values and the values espoused by†¦show more content†¦I prefer an informal, humanistic, flexible, and innovative culture, which is more likely to be found in high-tech companies, small businesses, research units, or advertising agencies. Not everyone is motivated to perform managerial functions. There are six components that have been found to be related to managerial success, especially in larger organizations. These are a favorable attitude toward authority, a desire to compete, a desire to exercise power, assertiveness, desire for a distinctive position, and a willingness to engage in repetitive tasks. I would consider myself to have a high motivation to manage, especially associated with tasks in larger and more bureaucratic organizations. A global manager is associated with success as an international executive. Dimensions included in this are: general intelligence, business knowledge, interpersonal skills, commitment, courage, cross-cultural competencies, and the ability to learn from experience. My potential for success as a global manager would be on the cusp of being relatively high. In today’s global economy, being a manager often means being a global manager. But, unfortunately, not all managers are able to transfer their skills smoothly from domestic environments to global ones. I believe that I have the ability to accomplish this on a consistent basis. There are a number of characteristics of the changing workplace:Show MoreRelatedEssay about Personal Career Development: Course Review1012 Words   |  5 Pagespurpose of this paper is to review the personal information from the career assessments taken in HS 585 Career Counseling at Bellevue University. The review will focus on this author’s personal results. This paper will combine the assessments with the author’s personal history to provide a context for future career goals. Assessment Summary The primary assessment performed and examined within the HS 585 course was the Strong Interest Inventory (SII). This assessment provided a profile of this author’sRead MoreAnalysis On Different Employability Skills Covered Within This My First Year At University962 Words   |  4 Pages1. Terms of Reference Within this report and portfolio there is going to be analysis on different employability skills covered within this my first year at university and, evidence of how they are incorporated in my own development as a Business Leadership and Corporate Management student to successfully hold a placement for the next two years of my degree. 2. Why Employability Matters? Employability is a key determination around the way the world works. It ‘is about being capable of gettingRead MoreTechniques For Enhancing Self Efficacy1485 Words   |  6 Pagesand perceptions of aptitude may increasingly influence students’ sense of which career options are attractive and viable (Brown, 2002). Self-efficacy beliefs and goal attainment are central to the development of academic-career interests and to the collection of occupational opportunities that students view as possible careers for themselves. School counselors can optimize the development of students’ academic and career interest and competencies through a number of cognitive implications using SCCTRead MoreCareer Fields Of Interest Using Free Online Tools1288 Words   |  6 Pagesexploration skills, and research career fields of interest using free online tools like Get My Future and My Next Move. Both tools enable youth to self-assess their interests and learn about various industri es as well as how to write a resume, get work experience/ job training and other assistance.. Postsecondary credentials and work-based learning are important aspects of youth career development. Once your organization is aware of the youth’s potential career interests, you can invite professionalsRead MoreSelf Assessment782 Words   |  4 PagesSelf-assessment MBA FP6004 UNIT 1 January 21, 2015 Upon completion of the writing skills assessment I received an overall rating Of seven (7). The scoring breakdown rated the following categories: Focus and Meaning, which I scored a seven (7). Content and Development, which I scored a six (6). Organization, which I scored a six (6). Language Use and Style, which I scored seven (7) and Mechanics and Conventions, which I scored a seven (7). A score of 7 in a ranking system where aRead MoreCareer Development : A Graduate Program860 Words   |  4 PagesCareer Development Due to the increasing competitive nature of the employment market, graduate coursework remains an important aspect of an individual who desires to achieve professional and career development. The entry programs offered help to provide learners with an intensive study about related subjects, a factor that helps them prepare for the careers they desire to pursue in life. Working students can also undertake the graduate programs to help improve their skills and expertise as well asRead MoreComprehensive School Counseling Program Evaluation Essay890 Words   |  4 PagesTherefore, conducting a needs assessment can help a new school counselor to evaluate the CSCP in order to plan, implement, and improve the effectiveness of the program (Astramovich Coker, 2007). Additionally, utilizing the accountability bridge counseling program evaluation model, a continuous evaluation cycle helps to improve services based on stakeholder feedback, the needs of those served, and outcomes (Astramovich Coker, 2007). Within this model, a needs assessment must be conducted in orderRead MoreSample Resume : Career Development773 Words   |  4 Pages1. Career field map - Specify if pursuing a Technical Path or Senior Executive Path. 2. Conduct a Self-Assessment for Career Development Needs – Identify obstacles that can prevent career derailment, how an employee communicates excellently and focus on strengths, weaknesses, opportunities and threats and other areas to improve on from the self-assessment. 3. Establish a consistent relationship with your supervisor – Spending time with a supervisor and manager and sharing the career developmentRead MoreOnline Career Assessments For Grafton Consulting1454 Words   |  6 Pages Proposal Project: Online Career Assessments for Grafton Consulting limited Date: 27th October 2015 Prepared by: Anna Satanina â€Æ' Proposal 1. Introduction and Overview of the Project Grafton Consulting Ltd (Grafton) is small consulting company with a large client base. Essentially they provide Human Resource solutions to their clients, both from an Organisation Design and Development point of view as well as the development of the people within these clients. One of the teams within GraftonRead MoreEssay Experiential Methods for Acquiring Self-Knowledge1509 Words   |  7 Pagesdirection of their career journey? Various strategies have been developed to provide guidance toward this end; however, as the realities of work change due to such factors as global competition and new technologies, it is necessary to develop new awareness of self in relation to work. This Digest examines various processes by which learners of all ages, elementary to adult, can expand their self-knowledge--their interests and the importance of those interests to their personal satisfaction, their

Breast Cancer Causes, Signs And Symptoms And Risk Factors

LITERATURE REVIEW INTRODUCTION: This section is going to review literature on overview of breast cancer, its causes, signs and symptoms and risk factors. It will also look at literature on screening methods of breast cancer, particularly mammogram. OVERVIEW OF BREAST CANCER According to Rodney et al (2003), breast cancer is the commonly occurring cancer in women, responsible for one third of all malignancies in females. It is said to be the second to lung cancer as a cause of cancer mortality and has been found to be the leading cause of death for American women between the ages of 40 and 55 years. It has been noted that the incidence of breast cancer is highest in North America and Northern Europe and lowest in Asia and Africa (Rodney et†¦show more content†¦(Galukande et al, 2010) In USA in the year 2015, 232 000 women were newly diagnosed with breast cancer and 40 000 women died of it. It has been also noted that the risk of breast cancer increases with age and women between the ages of 55 and 64 are most frequently diagnosed with breast cancer. The most common age of death for breast cancer is 68 years. (US preventive services task force, 2016.) Breast cancer represents 10% of all cancers diagnosed worldwide annually and constituted 22% of all new cancers in women in 2000 making it by far the most common cancer in women. CAUSES OF BREAST CANCER The causes of breast cancer are not understood thus making it a bit difficult to tell why people develop breast cancer. Age contributes in causing breast cancer and it is common amongst women over the age of 50 years who have gone through menopause. If you had close relatives that had breast cancer in the past then there are high chances that you develop breast cancer. Previous diagnosis of breast cancer is when you had breast cancer before and you were diagnosed, you have a high risk of developing breast cancer again either on your other breast or the same breast. Being obese or overweight may cause breast cancer because of the amount of oestrogen in the body. If you are taller than the average, you are likely to develop breast cancer because it may be caused by interactions between the genes and

Animal Testing Should Continue - 882 Words

There are many valid reasons why we should continue testing on animals. The life of a human is ultimately more valuable than that of an animal. Without animal research, there would not be the medication as we know it today. Animal testing has enabled science to progress and find treatments for viruses, produce antibiotics for some of the deadly disease, infections as well as preventatives in a form of developing vaccines to cure diseases. Moreover, the factor of moral obligations entreat the facts that there are excessive structures with laws in place to protect the animal from being abuse and mistreated, as all animal testing proposals must be approved by an Institutional Animal Care and Use Committee. According to animal testing ProCon,†¦show more content†¦Within few months of the vaccine being introduced there has been a rapid decrease of infections by 70 percent. (www.indiana.edu) Therefore, animal experiments are a vital role in the research of medication. The topic has ethical and moral aspects, as animals are genetically like us, thru can substitute for testing substances. In addition, in 1965 the local and state laws of the guideline in animal experiment were structured by the federal Animal Welfare Act (AWA) to instructing a strict minimum housing standard for the research animal including access to clean food and water, enclosure size, temperature and others. The AWA is closely inspected by the veterinarians. (animal-testing.procon.org) According to the Institutional Animal Care and Use Committee, the University of Maryland Baltimore Country believes that the responsibility of laboratory is essential in animal research to prevent and develop treatment of human and animal disease, â€Å"We affirm the moral obligation of our scientists to carry out this research on behalf of mankind and animals. Millions of Americans are alive today, and live healthier and more productive lives because our nations health care professionals are able to employ safe and effective treatments including vaccines, surgical procedures, drug therapies and other valuable therapeutic methods developed with animal research.†. (www.umbc.edu) These advancements in the field of animalShow MoreRelatedAnimal Testing And Why It Should Continue1390 Words   |  6 PagesIsaiah Tuppince Mr. Greer English 2 October 21st, 2015 Animal Testing and Why It Should Continue Jeremy Bentham once said, â€Å"The question is not, ‘Can they reason?’ nor, ‘Can they talk?’ but ‘Can they suffer?’† Animal testing is becoming a conflict right now and I believe that Animal testing should be stopped because it is cruel and inhuman, Alternative testing technologies exist, the lack of reliability, and it is expensive. Another quote once said was by Martin Luther King Jr stating â€Å"Never, neverRead MoreAnimal Testing And The World Of Scientific Research1746 Words   |  7 PagesAnimals used in laboratories dates as far back as the 17th century (Unknown, 2015)6. When I first read this statistic, it was surprising because the amount of time testing has been around really makes one think about the advancements made because of that. Due to the amount of time animal testing has been around, two general groups have formed in response to this. The people advocating for it are commonly part of the science community or anyone that supports what science hopes to accomplish and thenRead MorePros And Cons Of Animal Testing905 Words   |  4 PagesAnimal testing has been the target of animal cruelty groups since the beginning of its existence, but the benefits it provides, humans and animals far greater than the type of method that is used to get the results. Scientists Karl Landsteiner’s success in finding a cure to polio is an example of how the benefits of animal testing helped better future human lives. In his experiments he discovered that Polio viruses had three variations, meaning that they would have to produce a product that couldRead MorePersuasive essay against animal testing764 Words   |  4 Pagesagainst Animal Testing Abraham Lincoln once said, â€Å"I am in favour of animal rights as well as human rights. That is the way of a whole human being.†Ã‚  I couldn’t agree more with this statement as I do not believe that animal testing is right and I am totally against it. One of the main reasons I am against animal testing is the fact that the animals don’t have a choice and are being forced to be tested, which can lead to them getting seriously ill or dying as a cause of the testing. Each yearRead MoreAnimal Testing Is Unethical1089 Words   |  5 PagesMartinez English 101 4 December 2017 Animal Testing Animal testing is a practice which scientists have been using for hundreds of years. It uses non-human animals to test how substances may affect their behavior or health. Whether or not it should be allowed has been a debated for years. Some believe animal testing to be unethical. Others believe it to be a necessary evil that has advanced our scientific knowledge. There are also those who believe that animals hold the same rights as humans, andRead MoreAnimal Testing Is Morally Wrong?878 Words   |  4 Pageslot of different types of animals suffer through painful and unnecessary tests. An animal being used for scientific experiments is wrong because it is inhumane, expensive, and unpredictable. Animals in laboratories live lives of loss, pain, loneliness, and torture. Various studies have shown that animal experimentation often does not even help humans. Some even lead to harmful human reactions to the drugs being tested on animals. Yet we continue to use animal testing while other courses of actionRead MoreShould Animals Be Used for Research in the Cosmetic Industry?533 Words   |  3 PagesShould animals be used for research in cosmetic industry? Animal testing is widely used to develop new medicines and to test the safety of other products. These experiments can cause pain to the animals involved or reduce their quality of life in other ways. Animal experimenters are aware of this problem and agree that the testing should be made as humane as possible. While this practice has been followed for years now, some people still strongly believe that it is a cruel act and should be permanentlyRead MoreAnimal Testing Should Not Be Banned1547 Words   |  7 Pagesthousands of animal deaths a year in the United States alone that are caused by cosmetic animal testing. Animals typically used in this specific type of testing are guinea pigs, rats, mice, and rabbits. Today, we have technology that can replace jobs yet, we still use primitive procedures that no longer cater the best to our current society. Cosmetic animal testing is not only harmful but it is also ineffective Animal testing is unethical and unnecessary, cruel and should no longer continue. There areRead MoreAnimal Testing Should Not Be Banned1357 Words   |  6 Pagesof animals of all different shapes, sizes, and species are taken from their homes. These animals are subjected to animal testing, the use of animals in order to gain control over the variables that affect our bodies behavior. People are taking these animals from their homes to research and study things that could easily be tested using alternate methods. So a very important question stands, why do corporations continue to test on animals? 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Exchange Rate Policies In Developing Countries Free Essays

string(87) " challenging for finding a lasting solution for the monetary exchange these countries\." The monetary exchange in most developing countries is unstable due to the high level of inflation and weak currencies. The monetary policy of a country usually is affected by its monetary exchange rate. A country can attempt to engage on a reductive or expansionary monetary policy depending on the amount of money that is actually in circulation. We will write a custom essay sample on Exchange Rate Policies In Developing Countries or any similar topic only for you Order Now A country with more amount of money in circulation with increasing inflationary rate tends to adopt a reductive monetary policy where bank interest rate is increased and expenditure on capital infrastructural goods is limited. On the other hand, an expansionary monetary policy encourages the increase in money supply to the economy by reducing interest and bank lending rate, and engaging more in capital expenditures. No matter the monetary policy embarked on by a government, this goes to influence the monetary exchange rate of such country. According to Svensson (2000) the significance of exchange rate on a country’s monetary policy lies in the additional channel that exchange rate provides for the transmission of monetary policy. Secondly, the exchange rate involve a forward looking variable in which case it provides valuable information in the designing and implementation of monetary policy. Thirdly, monetary policy is enhanced through foreign shocks that are mainly propagated thoroughly in exchange rate. A country can utilize either a fixed monetary exchange rate or a flexible exchange rate, depending on the supply rate of money and the monetary independence it choose to stick with. In a developing country, with weak institutions, the exchange rates of such countries are determined by relaying in comparative measure with currencies from other strong and stable economies. Thus, it is difficult for these developing countries to operate flexible exchange rates. As a flexible exchange rate requires that solid financial structure is laid, and consolidated, fiscal and monetary policy institutions are in place. Developing countries engages in fixed rate to operate its exchange rate. In operating, a fixed rate for monetary exchange entails that the country’s central financial institution, i. . the Central Bank buy and sell the domestic currency at a given rate. Furthermore, the viability of such monetary operation is entirely tied to the country’s level of international reserves held by its authorities. ECONOMICS INDEXES ASSOCIATED WITH A DEVELOPING COUNTRIES Most developing countries are consumers’ society with little production. Most revenue and means for generating foreign exchange for this category of country are on primary goods in form of exploration of natural resources and agricultural activities. Agrarian economies and exploration of primary products are mainly source for generating foreign exchange in developing countries. In other words, the economies of most developing countries are tied down to the apron strings of advanced economies. Electronics, technological products, consumable products and finished goods are the main items of import for developing countries. The costs for importing these finished goods are more costly when compared with the amounts that are paid for exports of primary goods and raw materials from developing countries. The inequalities in the pricing regime in the international market are unfavorable for developing countries. This variable contributes to the foreign reserves of developing countries. Invariably, it affects the values of currency and its exchange rate. The monetary values of developing countries are weak when compared with those of vibrant economies. Inflation affects the economic growth and development of developing countries. In a situation where there is much money in the economy pursuing little goods in the economy, this situation leads to increase in inflation rate. Inflation reduces the purchasing power of people in a given economy. This weakens the value and use of money as a medium of exchange (especially in a galloping inflationary situation). To Ogbokor (2004), â€Å"Inflation, in a developing country, encourages inventory accumulation in the form of raw material, excessive investment in merchandise building and landed property. As a result, capital is prevented from being utilized for projects required for economic growth†. The implication of information in developing countries is that there brings about dearth of infrastructural amenities and the reduction of purchasing power of people for embracing a meaningful living. Financial institutions in developing countries, such as in Africa, are highly underdeveloped culminating in lack of depth financial consolidation, extensive inefficiency and over populated urban areas. The stock exchange markets in African countries are still in their embryonic state. They are just beginning to gain ground. In recent times, the Nigerian Stock exchange market (NSE) is making progressive growth in capitalization and growth in stock indexes. The growth in the Nigerian market especially in 2007 financial operation year in the public reform policy taken in the country’s financial sector has aided the stock exchange market in the country. In 2005, the consolidation of the Nigerian banking sector through the recapitalization has brought great improvement in the banking sector and financial institution (Njoku, 2006). The great feet attained in the reform, policy has led the government to introduce this recapitalization policy in the insurance sector. In the past the Breton institution, such as the International Monetary Fund (IMF) and the World Bank have recommended several medicines for the ailing economies of third world and developing economies. Such measures to embark on a structural adjustment programmed that will involve the devaluation of their currencies, among other measures such as privatization of public enterprises, removal of subsidies on public goods and less government intervention in their countries economies inter-alia. Even though these developing countries have put the structural programmed into use there situation economically still remain the same, sometimes made worst. â€Å"This SAP-induced inflation has resulted in adverse income redistribution, leading to increased personal insecurity and lessened personal satisfaction, while heightening interpersonal and institutional tensions and deterring investment and inhibiting consumer spending† (Anyanwu 1992). MONETARY EXCHANGE POLICIES IN DEVELOPING COUNTRIES The move to find an appropriate policy for monetary rate for developing countries has being on for decades now. But the volatile capital situation in these category of countries have made it more challenging for finding a lasting solution for the monetary exchange these countries. You read "Exchange Rate Policies In Developing Countries" in category "Papers" In these view, Velasco (2000) argued, â€Å"a significant conclusion that is shared from the volatile monetary exchange rate from developing countries is that adjustable or crawling pegs are extremely fragile in a world of volatile capital movements. The pressure resulting from massive capital flow reversals and weakened domestic financial systems was too strong even for countries that followed sound macroeconomic policies and had large stocks of reserves†. Since the 1970s, the volatile nature of the exchange rate of poor and developing countries is seen to be pervasive; as there are no stable, developed and consolidated financial institutions to peg exchange rate for countries and partners that these developing countries transact international business. The concern here according to Collins (1995) was that â€Å"the market for the developing countries currency were so thin, creating a volatile exchange rate that would be disruptive for economic activity†. The missing link for developing countries for a lasting solution for its exchange rate has being on the lack of a consolidated financial institution and stable economy. This situation for developing countries is made worst during the 1970s and 80s. â€Å"Prior to the 1980s, it was widely believed that operating a competitive floating exchange rate regime required a level of institutional development that developing countries did not possess† (Quirk, 1994: 135). The volatile nature of the exchange rate as recognized in the economy of developing countries is not entirely an inherent cause sometimes the activities of foreign and developed economies. For instance, the emergence of the European currency bloc has aided in rendering the exchange rate more volatile in developing countries. This according to Collingnon (1999) cited in Kawai Takagi (2003) â€Å"has made exchange rates between the three major world currencies more volatile and thereby contributed to the reduction of cross-border investment worldwide†. The economic structures in developing countries in term of its embryonic and underdeveloped financial institutions are contributory factors that are making them have an unstable and unpredictable monetary exchange policy. The explanation for the long run inflationary trend in developing nations, according to the Structuralists, is in terms of certain structural rigidities. These include market imperfections and social tensions in those nations, including the relative inelasticity of the food supply, foreign-exchange constraints, protective measures, a rise in the demand for food, a fall in export earnings, hoarding, import substitution, industrialization, and political instability, inter-alia† (Ghatak 1995). The devaluation of currency of developing country is done with the aim to create a real basis for measuring feasible and accurate exchange rate between imports and exports of transactions in the international market. However, â€Å"the usefulness of real devaluation in stimulating growth may seem self-evident; this view is not uniformly supported either by prior theoretical research or by the experience of countries implementing exchange rate devaluations† (Kamin Rogers 1997). Devaluation of currency of developing countries have it untold hardship and high cost for goods and services. Looking at the devaluation of the Nigerian currency, Anyanwu (1992) argues, â€Å"†¦the continued naira depreciation has encouraged the smuggling out of goods (especially food stuffs) leading to local scarcity and higher prices. It has also encouraged a brain drain, partly in an attempt to reap the benefits of naira depreciation, the remittances from which are mainly used for consumption activities, again aggravating local prices†. THE SIGNIFICANCE OF A FIXED EXCHANGE RATE FOR DEVELOPING COUNTRIES In recent times, some scholars have conducted research to analysis the use of a fixed exchange rate as basis for structuring the exchange rate regime in developing countries. â€Å"Probity analysis is used to study the determinants of exchange rate regime, build their empirical models around a framework in which the political cost associated with devaluation under fixed exchange rates plays a major role† (Frieden et al 2000). In a fixed exchange rate regime, the government of the developing country directly set the nominal exchange rate. Given the constraints and undeveloped financial institutions in developing countries, the practice of a fixed monetary exchange rate for developing countries is made difficult. The advantage of engaging a fixed exchange rate is to help stabilize a country’s economy. This is aimed at bringing structural change that would integrate the country’s economy into the world economy order in the quickest time possible. This has made currency board of most developing countries to take the move of attaining a fixed exchange rate as a priority that should be attain (Mart, 2004). Before the fall of the Bretton Woods system in 1973, many countries including many Latin American developing countries had adopted a fixed exchange rate regime. The reason for adopting this exchange rate regime measure is to control inflation, reduce exchange rate volatility or to improve competitiveness (Frieden et al 2000). In addition a fixed exchange rate regime tend to enable government of developing countries be disciplined in that they cannot fix any fiscal rate that would be excessive to cause the end or currency collapse. Fixed exchange rate sometimes is used as a short term corrective to harness a developing country’s monetary policy and help it gain credibility. For some developing countries like Poland, Mexico and Vietnam in the 1990s, the fixed exchange rate was utilized as a temporary measure to re-establish these countries policies to gain credibility (Ohno, 1998). Thus, a fixed exchange rate is acceptable in certain circumstances for developing countries, especially where there are unexpected real and financial shocks. However, this should not be permanently used as a measure for operating a developing countries monetary exchange. The flexibility exchange rate is more adequate for revamping the ailing and volatile exchange rate of developing countries. â€Å"In an unstable world economy, they must retain the ability to combine stability and flexibility as circumstances change. For the same reason, currency boards and permanently fixed exchange rates (with no escape clause) are not to be recommended† (ibid). In a galloping inflationary situation in a developing country, the exchange rate policy to adopt is a flexible one that allows currency to float and depreciate. After the tightening of the macroeconomic policies in such a country, it becomes useful to adopt a fixed exchange rate as a measure. As Ohno (1998) puts it, â€Å"As inflation subsides to a more manageable level (say, 10 to 20 percent per year), the fixed exchange rate becomes a symbol of monetary and fiscal prudence and its abandonment becomes politically too costly†. Invariably, it means that the utilization of a fixed exchange rate should come in when the inflationary rate of a developing country is becoming low and at a manageable level. Furthermore, the utilizing of a fixed exchange regime in developing country is significant in the sense that it provides stability of price to local economic agents. This is especially in the case where a country operates an open economy, in which exchange rate volatility may have substantial costs within itself (Frieden et al 2000). As earlier stated a country has the option either to choose a fixed monetary exchange rate or one that is flexible. For developing and emerging economies that want to choose a policy of a permanently fixed exchange rate this can be done through its currency board with it could adopt a common currency (‘Dollarisation’). On the other hand, developing countries can adopt a flexible policy, which according to Taylor (2000) is â€Å"†¦the only sound monetary policy is one based on the trinity of a flexible exchange rate, an inflation target, and a monetary policy rule†. However, the benefits and the cost implication of fixed exchange rates depend on the country and those variables and characteristics it is associated. For instance, a country with exceedingly high level of inflation with the urgently need to stabilize its economy will be beneficial to utilize a fixed exchange rate. â€Å"The higher the rate of inflation; i. e. one below some hyperinflationary threshold, the more a fixed rate will impose competitive pressures on tradable producers and more generally pressure on the balance of payments† (Frieden et al 2000). According to Collins (1995), a government of developing country should opt for a fixed exchange rate regime when it sense and anticipate a small misalignment cost from maintaining the existing peg. In addition, the need for government to adopt a fixed exchange rate is when she believes that discrete nominal exchange rate adjustments have only small political costs, when the government perceived her ability to manage a flexible exchange rate as low, or when the government attempt to stabilize a very high inflation. Third world countries usually are faced with political instability. During period of political instability, the adopting of fixed exchange rate by a developing country is more pronounced (Frieden et al 2000). The drawback associated with a fixed exchange regime for developing country is that an inflation differential between the pegging country and the anchor generates an appreciation of the real exchange rate, which in the absence of compensating productivity gains, hurts the tradable sector and might generate a balance of payments crisis (ibid) THE NEED TO ADOPT A FLEXIBLE EXCHANGE RATE FOR DEVELOPING COUNTRIES For a country adopting a flexible exchange rate, the government of such country has imperfect control over the nominal exchange rate in its monetary policy. In this case, â€Å"the actual exchange rate is influenced by some shocks both at home and abroad The greater the variance of these shocks the less control policy makers will have over the actual nominal exchange rate† (Collins, 1995). The right situation for a government of a developing state to adopt a flexible includes when it perceives and anticipate a large misalignment costs from maintaining a pegged rate, when the political costs to discrete nominal adjustments are high flexibility exchange rate is conducive in such situation. Furthermore, when the government believes her ability to manage a flexible rate was high, and when the government of the state is not planning to stabilize very high inflation (ibid). In the same vain Velasco (2000), argues, â€Å"If shocks to the goods markets are more prevalent than shocks to the money market, then a flexible exchange rate is preferable to a fixed rate for developing countries†. On the other hand, when every movement in the nominal exchange rate is quickly reflected in an upward adjustment in domestic prices, then the insulation provided by flexible exchange rates is nil and thus not expected to provide a satisfactory exchange rate regime (ibid). Under a flexible exchange rate, the change in relative price quickly takes place, unlike the situation in fixed exchange rate where it changes slowly. Thus, there is advantage for developing borrowing under a flexible exchange rate. A flexible exchange rate gives borrowers an incentive to hedge that may be absent under more rigid regimes† (Velasco 2000). With the advantage that accomplish flexible exchange rate, it is still expected that each developing countries should choose and adapt to its own exchange rate system with respect to common basket. â€Å"Whatever the formal arrangement that is adapted; be it a flexible exchange rate regime or a managed float, the important point is that each country in the region should stabilize the real effective exchange rate at normal times by targeting a common currency basket† (Kawai Takagi 2003). The need for developing countries to adopt a flexible exchange rate is more on the volatile nature of the countries with weak financial institutions. The negative effect of exchange rate volatility for developing countries on trade is more obvious when compared to those of developed economies. Taking on comparison between the difference in exchange rate volatility between developing countries and developing countries, it is seen that work on Pakistan’s exports to Germany, Japan, and the United States for 1974-85 suggests that exports were significantly adversely affected by variability in nominal bilateral exchange rates. On the other hand, the effect of real exchange rate variability on the exports of Chile, Colombia, Peru, the Philippines, Thailand and Turkey have attained the clear evidence of generally considerably negative and substantial impact (ibid). Scholars have advocated more of flexible exchange rate for developing countries than a fixed one, however there are demerits associated with the use of flexible exchange rate. According to Collins (1995), â€Å"flexible exchange rates make it very difficult to alter domestic price and wage setting behavior so as to reduce inflation†. More flexible exchange rate regimes may result in higher equilibrium levels of inflation because they do not effectively discipline central bankers (ibid). CONCLUSION The monetary exchange rate of developing is characterized by a highly volatile and unstable exchange rate regime. Thus, it becomes difficult to adopt a fixed exchange rate regime, given the weak financial institutions in this category of countries. Furthermore, the embryonic state of capital market and other financial institutions in developing country further weakens the currency of these countries. Inflationary rate in developing countries are on the increase thus to stable the economy within shorter period, anticipating a short misalignment costs will be adequate for a government of a developing country to adopt a fixed exchange rate. On the hand to correct, a flexible exchange rate regime is suitable for a developing country in managing its economy currency stability over a longer period. The development of financial institutions and the consolidation of capital and money markets of developing country will aid them to embrace a feasible regime that would contribute to strengthen its currency value and ensure a vibrant economy. How to cite Exchange Rate Policies In Developing Countries, Papers

Arnis free essay sample

The Arians is a sport than can give us fun and body ache. You will encounter Arians either in your PEE class or it is your chosen sport to spend your time with. As I have watched the video that was given to us by our professor in Physical Education, I have learned that I can also use Arians in self-defense. In the video, our professor was teaching disarming or how to remove the weapons of the opponent. It was taught in a step-by-step guide and in slow motion for us to see and to learn what he is doing. In our time, robbers, thieves, rapists and bad men can be seen everywhere. They usually hold things that can threaten the lives of their victim. Some of these things are knives, guns and even knuckles. In the video, we have learned a lot of ways that we can use our Arians to disarm a person that threatens to kill or do something bad to us. We will write a custom essay sample on Arnis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Though we know that we cannot do those things in a real-life situation, we should tallest have an idea on how we will do it in case we dont have the area or place to run to for help or in short, when we are rendered and no one can help us. I am not really a fan of Arians because I thought before that we cant really use the techniques taught to us in real-life situations because we dont bring our Arians all the time but a thought hit me that anything can be used as a replacement for Arians. An example of this is an umbrella or anything that can be a replacement for Arians. Arians can be a helpful sport for everyone because we can use it at all times especially in emergency situations.