The Policy of the Commonwealth Bank-Free-Samples for Students

Question: Pick one Organization any Company. at that point need to do strategy task, likewise notice existing arrangement of the Organization. it would be ideal if you select prerequisite and choice among three alternative. Answer: Foundation The Commonwealth Bank of Australia is the worldwide keep money with their organizations in all over New Zealand, United Kingdom and Australia that is ordinarily alluded to as CBA (Commbank.com.au, 2017). It helps in offering distinctive money related types of assistance, for example, retail just as institutional organizations and other broking administrations. The Commonwealth Bank was built up by Catherine Livingstone in the period of 22nd December in the year 1911. District Bank is effectively engaged with broking just as recorded in the stock trade of Australia too. The whole privatization was done in the year 1996 by the administration of Australia also. The basic activities of the Commonwealth Bank is to give distinctive their customers various administrations, for example, singular financial that incorporates charge and Mastercards, riches the board and protection. The various types of credits are given by the particular bank to the clients, for example, advances for setting up business and other home advances too. Such exercises help them in being not the same as others in the group and make the educated people a piece of the association too. This arrangement was set up so as to lessen alongside quit getting representatives who don't have such satisfactory information required to be utilized in Commonwealth Bank Australia. Besides, Commonwealth Bank is a worldwide level organization, the workers in the association must be engaged just as skilled in the separate occupations. The correct enactments must be trailed by the Commonwealth Bank while appropriately delegating representatives in the association and furnishing them with preparing too. There ought not be any sort of separation alongside biasness for any representatives who are workers in Commonwealth Bank. For example Proper preparing is basic in nature as this will help in giving the representatives, at that point this can prompt various challenges while overseeing various records of the clients in the bank. The enlistment program is fundamental in nature as this will help in going to the clients. Subsequent to enlisting competitors, appropriate acceptance program m ust be built up as this will help in choosing the people on such premise as that will assist the association with achieving objectives. Reason Province Bank of Australia helps all the people who are need in of any sort of credit or other monetary administrations that can be given to the people at a negligible rate than different banks or budgetary organizations in Australia. It effectively takes part in various types of exercises that effectively take part in giving the clients the thoughts of the diverse budgetary advantages or other individual advantages that can be given to the clients. This incorporates other correlative administrations to the people who are by and by or recently worked with Commonwealth Bank in Australia. The approach in regards to the counter tax evasion 2016-2017, Customer complaint redressal instrument arrangements, alongside assortment of check strategy are the ones that are appropriately actualized by the separate bank. The pay strategy must be appropriately actualized just as this will support the bank and the clients a legitimate view about the various strategies just as enactments. Finally, the fundamental motivation behind after the various demonstrations is to appropriately build the very much oversaw group with legitimate hierarchical structure and it must be appropriately kept in see by the bank that it is in advantage of the clients too (Jackson, SSchuler and Jiang 2014). Degree The approach of the Commonwealth Bank is applied to various staffs, choice and enrollment group just as the distinctive trial staffs and agents of the organization. Moreover, candidates, staffs just as the assistants of the Commonwealth Bank are permitted to realize the distinctive advancement just as preparing strategies that will be offered by the separate bank (Azmi and Mushtaq 2015). Then again, the higher authorities or the administrative post representatives need to follow various strides from the approach for appropriate enlistment of the various workers and there ought not be any sort of biasness during the time spent enrollment too. Strategy Proclamation The workers of the association are the most important piece of the Bank, wherein Commonwealth Bank has an appropriate choice and enrollment board of trustees who has the all out obligation of naming of the various staffs based on the aptitudes, experience alongside legitimate capacities. Appropriate value alongside straightforwardness is fundamental in with the candidates wherein there will be no biasness while naming various people for various posts in the association. The individual relationship ought not be included as this will build the irreconcilable situation among the representatives (Brewster, Mayrhofer and Morley 2016). Region Bank of Australia has different standards viewing the enlistment just as determination of the staffs: All the candidates must be dealt with similarly in any event, when the people or candidates are not from various state or culture The representatives of the individual bank are chosen based on the likely capacities alongside benefits of the applicants who will meet the prerequisites of the association (Budhwar and Debrah 2013) The workers of the Commonwealth Bank will be appropriately bolstered just as managed in the enlistment program In the acceptance program, legitimate preparing is given in respects the various enactments and rules, for example, remuneration act, taking care of complaints of the people or the clients are fundamentally educated to the candidates who will be the future perpetual representatives of the particular bank The correct procedure of arrangement is trailed by the bank as the workers are chosen based on the enlistment just as determination technique Finally, it is obligatory to be seen that there is appropriate preparing program that has been directed for all the staffs in the association with inspiration and giving them employer stability too (Story 2014). Conflict of intrigue There ought not be any sort of arrangement in the Commonwealth Bank of various workers who are having blood relationship or cozy relationship with the current representatives of the individual association. This may offer ascent to irreconcilable situation later on also. This sort of contention emerges in the association when there is a job of dynamic job as there can be ascent of biasness in the association and this will have awful impact on the association also. The dynamic can offer ascent to struggle that is monetary in nature that can prompt money related misfortune or increase among the staffs or the individuals from the association. The contention in the enthusiasm among the staff of the individual bank can make negative effect on the workers of the association also. The choices must be revealed before people in general or, in all likelihood there can be inability to unveil such choice that can be degenerate in nature. Classification The data of the various candidates must be appropriately used in a recognized way and the data must be appropriately put away in the database of the choice and enlistment advisory group individuals (Lengnick-Hall, Lengnick-Hall and Rigsbee 2013). The data that has been gathered from the various candidates is utilized for finishing the whole enrollment and determination process for the various places that are promoted as it were. There are distinctive data that are revealed of the various candidates out in the open will be viewed as misrepresentation that may influence the notoriety of the association and this can influence the individual existence of the people too. The information of the candidates must be appropriately made sure about under various conditions under the Data Protection Act 1998. Definitions Enlistment is a procedure that is used by different organizations as to pull in qualified up-and-comers with legitimate information level alongside various expected aptitudes. The reason for existing is to discover number of candidates just as picking up-and-comers who will fit best in the organization for the ideal post (Chelladurai and Kerwin 2017). Choice is the procedure of determination of the correct applicant after procedure of enrollment who has met the various necessities of the bank. The procedure is led through the possibility alongside reference check and preparing of the worker. This will help in designating the best staff with no sort of close to home biasness (Marler and Fisher 2013). Acceptance is the procedure that is directed on inviting the various representatives in the association and supporting them with legitimate preparing alongside direction program as the new work can be unpleasant in nature. Enrollment and choice administrator is the person who is liable for naming the likely contender for the various posts, for example, agents, trial officials alongside evacuating staffs because of the low execution in the constant timeframe (Marchington et al. 2016). Related Policies Avoidance of tax evasion Act 2005 Appropriate uniformity of workers Act Region Bank sets of accepted rules Act Strategy on the assortment of contribution Workforce Grievances and Complaints Act Reasonable Work Act Information security Act Specifics OF Policy Enrollment just as Selection Policy Region Bank works and works with appropriate rationale of the furnishing various credits alongside making and adjusting the economy. Republic Bank is one of the biggest universal banks wherein authority of the dynamic is decentralized in nature (Kramar 2014). The enlistment and determination chief are the ones who are commonly liable for recruiting various up-and-comers and the choice group individu

Equipment for Cosmetic Dermatology Clinic

Gear for Cosmetic Dermatology Clinic A corrective dermatology facility contrasts from the customary dermatology center regarding the prerequisite of a wide scope of hardware to perform different tasteful systems. Before, the main instrument related with dermatology practice was an amplifying glass. It at that point advanced to equipment’s, for example, Woods light, electrocautery, radiofrequency, cryotherapy and phototherapy units. Past these apparatuses, the corrective dermatologists’ armamentarium incorporates different fundamental and specific equipment’s to complete a large number of dermatological medicines and cosmetology systems. (Box 1) notwithstanding the treatment hardware, photograph documentation gadgets are additionally fundamental. These gadgets record the outcomes and changes for investigation and forecast of the medicines and can really archive the percentile UV harm, wrinkle score and so on. The corrective customers (web sharp) know about the hardware utilization in different techni ques and check for centers offering offices with the most recent gear and low personal time. The corrective dermatologist not just should be refreshed about the most recent equipment’s yet ought to likewise know about its administration and support needs. Poor upkeep prompts budgetary misfortunes for the doctor and settles on viability and security issues for the patient. This part gives a concise framework of hardware the board and support viewpoints which would empower the doctor to give sheltered, successful medicines and continue the monetary parts of his/her training ideally. Box 1: Basic and Specialized hardware in a corrective facility Fundamental Equipment Microdermabrader Radiofrequency and burning Cryotherapy Mesotherapy Stream Peel or hydrafacial Microcurrent Electroporation Dermatoscope and photography gear ( itemized in section 5) Phototherapy Units Specific Equipment-LASERS and Light Systems Extraordinary Pulse Light LASER Hair Reduction-Long Pulse Alexandrite, Long Pulsed ND YAG, Diode Pigmentation-Q Switched ND YAG Partial and Ablative LASERS Hair Restoration-Low Level Lasers and lights Skin Tightening-LASERS and Radiofrequency, Micro needling Radiofrequency Vitiligo and Psoriasis-Excimer light and LASER Body forming Radiofrequency, cryolipolysis, ultrasound cavitation, low level laser therapy,etc. Essential REQUIREMENTS FOR EQUIPMENT MANAGEMENT The essential necessity from any machine/gear is its life span and ideal utilization. This can be accomplished by viable hardware the executives methodology [1] (Box 2) Box 2: Effective hardware the board methods Hardware Purchase Establishment necessities (stockpiling and space electrical gracefully, climate control system) Standard Operating Protocols Preparing of the staff Quality control checks (cleaning, wellbeing gadgets, consumables, customary assessments) Upkeep and adjusting (Daily, Preventive, Annual ) Gear/Accessories change Hardware Purchase: The accompanying agenda ought to be remembered during acquisition of the hardware. This assists with disturbing shoot support issues adequately. Continuously purchase from a guaranteed organization or a confirmed authority vendor Check with the seller for talented experts for establishment and investigating Sign the upkeep contract with the organization (No machine is zero support) Set up the guarantee time frame (subtleties and courses of events) Note of the date of production and the numerical code exceptional to every hardware. Establishment Requirements Space and capacity Requirements of the gear and embellishments ought to be considered preceding establishment. Electrical associations and stabilizers: This has been point by point in Chapter 60. Uncommon attachments and high voltage breakers, stabilizers and UPS (continuous force gracefully) ought to be given. Climate control system: Most of the LASER machines produce warm and require certain temperatures to be kept up while in activity. A cooled domain is favored as it stays shut, generally dust free and is valuable for machine life span. Smoke evacuators Fragments of skin, hair and pressurized canned products can harm LASER focal points or light based hardware because of physical impedance with transmission. Smoke departure frameworks might be utilized to decrease the tuft garbage and cutoff the destructive impacts on the staff, patients/customers and the laser gear. Standard Operating conventions (SOPs) SOPs in regards to utilization of the machine are given by the maker. Signs and Specifications are given in the administrator manual and ought to be clung to. In view of the patient necessity, if changes are made in the SOPs, these ought to be recorded and educated to all the staff. Preparing of staff (machine administrators or staff liable for support) All the staff individuals in the restorative dermatology set up ought to be prepared to follow the SOPs, comprehend the need and significance of hardware upkeep for the smooth working of the center. Quality control checks (cleaning, wellbeing gadgets, consumables) Notwithstanding the day by day cleaning; customary week after week or fortnightly check of each machine, security gadgets and consumables ought to be finished. This assists with forestalling crisis support issues and budgetary misfortunes. Support and overhauling (Daily, Preventive, Annual) A record ought to be kept up of all arranged and spontaneous upkeep and administrations, including any issues or adjustments. The administration contract records, contact subtleties of administration staff ought to be reported well. Gear/Accessory change Any adjustment to the hardware or frill; or change in its operational utilization may have security suggestions related with it. Thus, at whatever point any change is done, fitting documentation is compulsory. Standard embellishments ought to be utilized. Normalized AND EFFECTIVE EQUIPMENT MANAGEMENT A normalized structure, including all the angles itemized above for gear the executives ought to be kept with singular machines. A delicate/printed copy of this arrangement for all machines ought to be listed and fill in as a prepared reckoner to the concerned staff. An essential framework of the structure has been given in Box 3. The remarkable angles for viable gear the executives have been remembered for Box 4. Box 3: Standard structure for singular machines Name of the machine Signs Standard particulars (generally gave by maker) Capacity particulars: Equipment/Accessories Space: Table mounted/Floor mounted Power: Earthing/UPS necessity Air conditioning necessity Consumables Security gadgets Goggles, cooling gadgets, smoke evacuators Cleaning Techniques Upkeep Daily, Preventive, Annual or complete support administrations ( AMC/CMC) Extraordinary tips do’s and don’t’s Establishment date Administrator Training: Names/Dates Contact subtleties for Maintenance administrations: Phone/Mail id/Website address/Personnel Guarantee subtleties: Equipment/Accessories, alongside datelines Administrations Contract: AMC/CMC, Renewal alongside Dates Administration done: Dates/Done by whom/Supervisory staff Box 4: General Tips for viable hardware the executives Keep a normalized structure with singular machines. Train the staff to deal with the hardware cautiously Comprehend the Operators manual Deal with all the pieces of machine. Hand pieces are the most significant part. Spot them in a defensive box or on the machine as taught Keep a check rundown of the consumables Keep all the machines shrouded and in a residue free condition Contact specialized faculty for preventive machine upkeep at customary interims Check for contraindication if there should arise an occurrence all things considered Fundamental EQUIPMENT MAINTENANCE The general standards of fundamental gear support (according to the normalized structure) has been sketched out in Table 1. Alterations should be possible dependent on singular machines and facility prerequisites. Table 1: Basic Equipment Management Hardware Precious stone Precious stone USG, Cleanser, head Salt †cartridges Microcurrent Precious stone Pro Lift Radiofrequency/Cautery Mesomate/Dr Injector Injector MesoGun-Manual-Automatic Stream M Machine Signs Peeling tenderly expels the furthest dead skin cell layer for the epidermis. Lessens pigmentation and tanning Improves Acne scars Lessens scarcely discernible differences and wrinkles Lessens pore size and age spots Facial lift Muscle lift Body Contouring Iontophoresis-Product entrance Disencrustation-Deep purging Dermatoses papulosa nigra (DPNs) Moles Skin labels Moles Seborrheic Keratosis Granuloma pyogenicum Xanthelesma Rhinophyma Dull skin Sporadic surface Lopsided skin tone Male pattern baldness Cellulite Lymphatic waste Peeling Imbuement Standard working conventions Accessible Accessible Accessible Accessible Accessible Capacity Temperature:20 - 600 C Moistness Space Table mounted Table mounted Table mounted Table mounted Dr. .Injector has its own Trolley Table mounted or uniquely planned streetcar Electric/ UPS/AC Earthing + UPS/AC- Earthing + UPS/AC- Earthing + UPS/AC- Earthing + UPS/AC- Consumables Hand piece contingent upon the sort of machine Spouts of two distinct sizes little for face and neck and enormous for the body parts Aluminum oxide gems Two long metal tests, one little test with wipe for earthing , two arrangements of shaded wires, one metal roller, clingy cushions and large cushions. Hand piece Wire circle terminal and pointed anode Expendable just as reusable tips are accessible Crimped wires may require substitution Security gadgets Foot pedal Air tubing Triple spout handpiece Security goggles (during strip implantation ) Nutrients Cleaning The container must be freed from all the precious stones after each assistance and cleaned. Hand piece should be scrubbed with liquor swab before use. Tissue buildup ought to be expelled from the dynamic cathode (Rf power ON) with a clean soggy g

Fibromyalgia Essay Example | Topics and Well Written Essays - 750 words

Fibromyalgia - Essay Example It was seen there is high collection of Fibromyalgia in groups of Fibromyalgia patients. The method of legacy followed is most likely polygenic. A relationship among Fibromyalgia and polymorphisms of the qualities in the serotoninergic, dopaminergic and catecholaminergic frameworks was seen in investigate. Anyway these polymorphisms are not explicit for Fibromyalgia and are related with a scope of substantial issue and with gloom (Buskila 332-8). Stress is frequently considered as a hazard factor for Fibromyalgia It has likewise been theorized that since presentation to upsetting conditions can adjust the capacity of the hypothalamic-pituitary-adrenal (HPA) hub, the advancement of fibromyalgia may come from pressure instigated disturbance of the HPA hub (McBeth et al . R992-R1000) There is solid proof that significant despondency and fibromyalgia are related with one another. The manifestations of exhaustion, rest unsettling influences, and psychological aggravations that are normal for Fibromyalgia are additionally present in burdensome disease. Patients with Fibromyalgia frequently improve with energizer meds. Albeit current significant misery was found in just around 18-36% of Fibromyalgia patients, a lifetime history of sadness was seen in 50-70% of the cases in an examination (Goldenberg 778-779). Sexual orientation and age are the other significant hazard factors in Fibromyalgia as Fibromyalgia is multiple times more predominant in ladies than in men and is well on the way to be analyzed between the ages of 20 and 50 (Chakravarty and Zoorob 247). The most significant indications of Fibromyalgia are torment in various destinations, weariness, and poor rest. Patients frequently gripe of low back torment, which may transmit into the hindquarters and legs. Likewise basic are grievances of torment and snugness in the neck and over the upper back shoulders. The torment might be portrayed as a copying or chewing irritation, solidness, or throbbing. Numerous patients stir much of the time around evening time and experience issues falling back to rest. After waking, numerous patients feel depleted and grumble of solidness, which improves as the day cruises by. Agony should keep going for over 3 months in each of the four quadrants of the body.Fibromyalgia is analyzed if there is a past filled with far reaching torment enduring over a quarter of a year influencing every one of the four quadrants of the body and nearness of 11 delicate focuses among the nine sets of destinations indicated by the American Rheumatology College (Chakravart y and Zoorob 248-249) Numerous patients with fibromyalgia gripe of subjective challenges (known as cerebrum mist or fibrofog, for example, short and long haul memory issues, grabbing for words, and poor jargon. Cerebral pains, including headache type, additionally are normal. A sentiment of swollen joints without real expanding, and paresthesias without objective neurologic discoveries, are viewed as two significant highlights of Fibromyalgia (Chakravarty and Zoorob 248). As a medicinally unexplained condition, there is no known fix or all around acknowledged treatment for fibromyalgia, and treatment is ordinarily focused on side effect the board. Alongside pharmaceutical treatment, inquire about was done on an assortment of elective medications for Fibromyalgia with changing outcomes. Momentary exercise programs for people with fibromyalgia have reliably improved physical capacity, particularly physical wellness, and diminished delicate point torment; anyway the activity must be done at moderate force and reliably. The activity should begin at powers beneath the

Duality and Contrasts in Romeo and Juliet - Free Essay Example

  William Shakespeare used opposing concepts to create a sense of contrast in his writing. He frequently established the theme of duality in Romeo and Juliet, which is a play about two lovers whose love filled bounty is â€Å"boundless as the sea†(II ii 133). Duality means two-sided, as in two concepts. These concepts include love and hate, life and death, and good and bad. He demonstrates these examples within the language, characters, and events in the play. Romeo and Juliet is a play of contrasts and duality. The characters in the play show duality as a result of the feud between the Montagues and Capulets. The two families despised each other, which alluded the idea that Romeo and Juliet would never be together. But eventually, their love is what brought the Montagues and the Capulets to end their feud. In the play, it says â€Å"My only love sprung from my only hate! / Too early seen unknown, and known too late! / Prodigious birth of love it is to me. / That I must love a loathed enemy† (I v 138-140). In this quote, Juliet expresses her disappointment as she learns that Romeo is a Montague. This example explores the concept of love and hate. Friar Laurence explores good and bad when he says, â€Å"In man as well as herbs, grace and rude will†(II iii 28). Friar Laurence is insinuating that, as herbs do, a man also has these two sides, implying the constantly reiterated theme of the play duality. Man and herbs can concurrently be beneficial and malevolent. In Act III, Juliet says â€Å"O serpent heart, hid with a flowering face!†(III ii 74). In this excerpt from the play, Juliet is in a state of incredulity when she learned Romeo had murdered Tybalt. Romeo looked like one thing, but he was really another, which highlights Romeos dual personality, good and bad. Furthermore, the language in the play introduces examples of contrasts and duality. In the play it says, â€Å"The earth, that’s nature’s mother, is her tomb / What is her burying, grave that is her womb (II iii 9-10). In this quote, Friar Lawrence explains how the earth provided a womb and a tomb. The dual natures of the womb and the tomb represent the notion of life and death. Continuing the concept of life and death, Friar Laurence says â€Å"For this, being smelt, with that part cheers each part; / Being tasted slays all senses with the heart.†(II iii 25-27).This quote displays how some flowers have dual natures, as well as people. The flower is fragrant, however, its poisonous behalf could kill if ingested. Additionally, the quote â€Å"These violent delights have violent ends / And in their triumph die, like fire and powder (II vi 9), signifies how some things can take a turn for the worse. Friar Laurence warned Romeo and Juliet not rush into their marriage because good could potentially turn bad. Moreover, numerous events display the primary theme of the play. In Act 4, Juliets unwanted wedding with Paris ultimately turns into a funeral. In the play is says, â€Å"Turn from their office to black funeral; / Our instruments to melancholy bells, / Our wedding cheer to a sad burial feast, / Our solemn hymns to sullen dirges change / Our bridal flowers serve for a buried corse, / And all things change them to the contrary†(IV vi 86-91). Lord Capulet finds a bright side to Juliets death. He had already brought in musicians and put up decorations for the wedding, but now they will aid in the funeral. This, again, shows the concept of good and bad in Shakespeares writing. Another event in the story that showcases duality is when Tybalt slays Mercutio out of rage for Romeo. In the play it says, â€Å"Alive in triumph—and Mercutio slain! / Away to heaven, respective lenity, / And fire-eyed fury be my conduct now†(III i 84-86) In this quote, Romeo reveals his hatred towards Tybalt by avenging his love for his friend. Accordingly, Romeo defeats Tybalt and kills him. Through Romeo and Juliet, Shakespeare spread the two sided theme of duality. These concepts, including love and hate, life and death, and good and bad, develop throughout the language, characters, and events in the play. Romeo and Juliet is a play of contrasts and duality. Works cited: Shakespeare, William. Romeo and Juliet.

Introduction to Slavic Mythology

Early Slavic mythology has been a challenge for historians to study. Unlike many other mythologies, there is no existing original source material because the early Slavs left no records of their gods, prayers, or rituals. However, secondary sources, mostly written by monks during the period in which the Slavic states were Christianized, have provided a rich cultural tapestry woven with the mythology of the region. Key Takeaways: Slavic Mythology The old Slavic mythological and religious system lasted for about six centuries, until the arrival of Christianity.Most Slavic myths feature gods who have dual and opposite aspects.A number of seasonal rituals and celebrations were held according to agricultural cycles. History It is believed that Slavic mythology can trace its roots back to the Proto-Indo European period, and perhaps as far back as the Neolithic era. The early Proto-Slav tribes split into groups, consisting of the East, West Slavs, and South Slavs. Each group created its own distinct set of localized mythologies, deities, and rituals based upon the beliefs and legends of the original Proto-Slavs. Some of the Eastern Slavic traditions see some overlap with the gods and practices of their neighbors in Iran. The Svantevit-Stone in the church in Altenkirchen. Heritage Images / Getty Images The predominant Slavic indigenous religious structure lasted for about six hundred years. In the late 12th century, Danish invaders began to move into the Slavic regions. The Bishop Absalon, an advisor of King Valdemar I, was instrumental in replacing the old Slavic pagan religion with Christianity. At one point, he ordered the toppling of a statue of the god Svantevit at a shrine in Arkona; this event is considered the beginning of the end of ancient Slavic paganism. Deities There are numerous deities in Slavic mythology, many of whom have dual aspects. The deity Svarog or Rod, is a creator and considered a father god to many other figures in Slavic mythology, including Perun, a god of thunder and the sky. His opposite is Veles, who is associated with the sea and chaos. Together, they bring balance to the world. There are also seasonal deities, like Jarilo, who is associated with the fertility of the land in the spring, and Marzanna, a goddess of wintertime and death. Fertility goddesses like Mokosh watch over women, and Zorya represents the rising and setting sun at dusk and dawn each day. Rituals and Customs The traditional annual Slavic holiday of Ivan Kupala. SERHII LUZHEVSKYI / Getty Images Many Slavic rituals in the old religion were based on agricultural celebrations, and their calendar followed the lunar cycles. During Velja Noc, which fell around the same time that we celebrate Easter today, the spirits of the dead wandered the earth, knocking on the doors of their living relatives, and shamans put on elaborate costumes to keep evil spirits from doing harm. During the summer solstice, or Kupala, a festival was held involving an effigy set alight in a great bonfire. This celebration was associated with the wedding of the fertility god and goddess. Typically, couples paired off and celebrated with sexual rituals to honor the fertility of the land. At the end of the harvest season each year, priests created a huge wheat structure—scholars disagree on whether this was a cake or an effigy—and placed it in front of the temple. The high priest stood behind the wheat, and asked people if they could see him. No matter what the answer was, the priest would plead to the gods that the following year, the harvest would be so bountiful and big that no one would be able to see him behind the wheat. Creation Myth Maslenitsa, representing winter and death in Slavic mythology. bruev / Getty Images In the Slavic creation myths, in the beginning, there was only darkness, inhabited by Rod, and an egg that contained Svarog. The egg cracked open, and Svarog climbed out; the dust from the shattering eggshell formed the sacred tree which rose to separate the heavens from the sea and the land. Svarog used gold powder from the underworld, representing fire, to create the world, full of life, as well as the sun and the moon. The debris from the bottom of the egg was gathered and shaped to make humans and animals. In different Slavic regions, there are variations of this creation story. They almost always include two deities, one dark and one light, representing the underworld and the heavens. In some tales, life is formed from an egg, and in others it comes out of the sea or the sky. In further versions of the story, mankind is formed from clay, and as the god of light forms angels, the god of darkness creates demons to provide balance. Popular Myths There are numerous myths in Slavic culture, many of which focus on the gods and goddesses. One of the best known is that of Czernobog, who was the incarnation of darkness. He decided he wanted to control the world, and the entire universe as well, so he turned into a great black serpent. Svarog knew that Czernobog was up to no good, so he took up his hammer and forge and created additional gods to help him stop Czernobog. When Svarog called for aid, the other gods joined him to defeat the black serpent. Veles was a god who was banished from the heavens by the other gods, and he decided to get his revenge by stealing their cows. He called up the witch Baba Yaga, who created a massive storm that made all of the cows fall from heaven down to the underworld, where Veles hid them in a dark cave. A drought began to sweep the land, and people became desperate. Perun knew that Veles was behind the chaos, so he used his sacred thunderbolt to defeat Veles. He was eventually able to free the heavenly cows, take them back home, and restore order to the land. In Popular Culture Baba Yaga is one of many Slavic folk characters appearing in pop culture. AlexStepanov / Getty Images Recently, there has been a resurgence in interest in Slavic mythology. Many modern Slavs are returning to the roots of their ancient religion and celebrating their culture and traditions of old. In addition, Slavic myth has made its appearance in a number of pop culture mediums. Video games like The Witcher series and Thea: The Awakening are heavily influenced by Slavic folktales, and Baba Yaga shows up in Rise of the Tomb Raider. In film, Disneys Fantasia features a sequence called Night on Bald Mountain, in which Czernobog is the great black demon, and a number of successful Russian movies like Finest, the Brave Falcon and Last Night all draw from Slavic legends. In the STARZ television series, American Gods, based on Neil Gaimans novel of the same name, both Zorya and Czernobog play important roles. Sources Emerick, Carolyn. â€Å"Slavic Myth in Modern Pop Culture.†Ã‚  Oakwise Reikja, https://www.carolynemerick.com/folkloricforays/slavic-myth-in-modern-pop-culture.GliÅ„ski, MikoÅ‚aj. â€Å"What Is Known About Slavic Mythology.†Ã‚  Culture.pl, https://culture.pl/en/article/what-is-known-about-slavic-mythology.Hudec, Ivan.  Tales from Slavic Myths. Bolchazy-Carducci, 2001.Morgana. â€Å"Creation Stories in Slavic Tradition.†Ã‚  Wiccan Rede, https://wiccanrede.org/2018/02/creation-stories-in-slavic-tradition/.

Women s Rights And General Moral Values - 1631 Words

Over the course of American history, there have been many controversial issues within America such as gun control, the legalization of marijuana, the death penalty, and abortion. Abortion has been debated as a topic concerning a woman s rights and general moral values. There are two main opposing sides to this issue: people who are pro-life, and people who are pro-choice. People who are pro-life are against abortion at any time during the pregnancy, no matter the circumstances, while people who are pro-choice feel it is a woman s decision to choose if she should have an abortion because it is her body. Abortion has stimulated many intense discussions throughout the United States, and one should become fully informed on its history, the†¦show more content†¦Stanton says that if the government and society started treating women with respect and giving them the same rights as men, they won t feel the need to get an abortion because they would be receiving government financial support and therefore feel safer having a child. This movement continued and finally in 1920, the 19th Amendment was passed and women received their right to vote, yet getting an abortion was still a struggle for women (Foster 2). In the 1950’s, it is said that between 200,000 and 1.2 million abortions were illegally performed due to the previous laws that were passed banning abortion (Eichenwald 3). The United States continued to enforce abortion laws between 1967 and 1973 that allowed abortion â€Å"when performed by a licensed physician who judged that there was a substantial risk that continuance of pregnancy would gravely impair the physical or mental health of the mother, that the child would be born with serious defects, or when pregnancy resulted from rape or incest† (Abortion: Background and Issues 2). In the case of Roe vs. Wade, Sarah Weddington, the attorney of the case, explained the inequality pregnant women endured who work, are in school, or lack money . She asked the jury to understand that the pregnant women who want an abortion feel it is the best decision for them because of the injustices they face (Foster 3). So, in 1973, the Supreme Court allowed abortion within the first three months of a

Black Feminism for Liberation Movement - myassignmenthelp.com

Question: Discuss about theBlack Feminism for Liberation Movement. Answer: Insight into black feminism Black feminism projects the interconnectedness of philosophies like sexism, racism, oppression and gender identity. The concept Black feminism first appeared in the creations of Crenshaw, where he enhances the clarity of the readers regarding the independent existence of black and the tragedy of being a women. Intolerable racial oppressions encountered by the members of the Black community resulted in the birth to feminism (Evans, 2015). According to the researchers, Black Liberation Movement was one of the other reasons for the formation of Black Feminism. Countering this, liberation means freedom. Protests and revolts in this direction signify fighting for the needs of the black women, struggling to find meaning to their existence. Black women in black liberation movement The color black represented the dark tragedy in the lives of the black community women. Continuous sexual and racial oppression from powerful patriarchy compelled them to undergo identity crisis. The category black included the black men and white women. The inclusion of men within these movements distorts the stereotypical notion regarding men dominating women (Digby, 2013). Attachment of racial concept in this direction upholds the tragic fate of the tribes of Black community. Incapability to counter these harsh blows aggravated their complexities. As a matter of specification, the black women were at a loss, which necessitated the formation of Black Feminist Movement. At the initial stages, the movement faced hard-core opposition from the patriarchy; however, the formation of National Black Feminist Organization in New York assured the masterminds of the movement about making noticeable progress. Under the leadership and guidance of National Black Feminist Organization, several sub-movements were formed- Civil Rights Movement, Black Nationalism, The Black Panthers, Student Nonviolent Coordinating committee and others (Meyers, 2014). All these movements possessed enough flexibility to provide freedom to the black race from their tragic fate. Here, black signified the black men, which needed to be protected for securing manhood within the threshold of United States. This consideration can be considered as an affirmation to masculinity, negating the aspect of liberating women from their black fates. Discussion on men is a deviation from the aspect of feminism, placing women out of the feminist movement. Achievement of success in the form of restoring the lost rights made the black men powerful, which can be reflected from the utterance of sexist and racial comments in order to demotivate the women in terms of fighting for their rights (Patterson, Howard Kinloch, 2016). Acceptance of these comments without criticism seemed a mature step of the feminists in terms of studying the scenario, prior to the initiation of the actions. Through these concepts, Amiri Baraka and Eldridge Cleaver shed light on the fact that racial discrimations between men and women are self-made. Countering this, these discriminations are an affirmation to the stereotypical notions injected within the minds of the people by the hard-core followers of religion and fail to accept the changes in the civilization. Embracing a value system does not change our traditional origin; it just reflects the mentality to blind acceptance of what the others do (Love, 2016). Discriminations and oppressions of women is one of the components, which the people perform under the company of certain people, hungry for the fulfillment of their needs. Society has never accepted the equality between men and women and therefore, the result is the formation of patriarchy for dominating and suppressing the women. Bakara correctly projects the outcome of this suppression, We could never be equal. Nature has not provided thus. Countering this, the movements like civil rights sheds off the aspect of women could not be equal to men in terms of power. Bakara also shuns the presence of reciprocation in the relationship between men and women. In most of the cases, it is seen that the women submit themselves (Chambers Worrall, 2017). This submission is mostly against the wishes of the women, which affirms the identity of th e men as rapist, as intrusion into femininity against her wishes is considered as rape. Cleaver on the other hand expresses dual attitude to these perceptions of Bakara. On one hand, he sympathizes with women for getting such a societal position. On the other hand, it sticks to his standpoint regarding the importance of both sexism and racism in suppression of women. Typical evidence of this lies in the provision of less power to the black girls in terms of the white ones. Cleaver can be applauded for mentioning the strict laws, which function for providing justice to the women. Instances of discriminations and harassments diminish the individuality of black women; however, the strict actions undertaken by the statutory bodies of law are flexible enough to liberate women in terms of restoring their lost honor and justice (Alexander, 2017). Misogynist writings about Black Liberation Movement upholded the tragic instances, which women faced in their daily life. One such instance is the meeting of Black congress, where Elaine Brown and her team members were compelled to wait for lunch until the men have been served well. One of the striking facts in this instance is the utilization of funds by Black Women community for serving the men. This incident reflects suppressing the initiatives of the black women in terms of establishing their independence. Explanation of the rules to Elaine and her friends is the live example, which enhanced their clarity regarding their position behind men and respecting men (Norwood, 2013). Calling men brother signifies the mentality of the black women to perceive men as their companions in the journey towards the establishment of individuality. Rejecting the offer of companionship made the black women sterner in their standpoint. Typical evidence is the denial of Elaine to leave the discussion of Regional Black student and go to the kitchen for helping in the preparation of foods. Side parting with men reflects the betrayals of some black women towards their sisters in terms of sharing a common goal- to fight back the lost honor and respect. These women encouraged sexism and racism, which divided the women into two groups- one, fighting for their rights and other one, submitting to mens wishes (Boylorn, 2013). This division created fissures within the goals of the feminist movements in terms of reciprocating to the orthodox visions of patriarchy. Black women in feminist movement Being a victim of racism compelled the black women to join Feminist Movement. However, the initial phases included rejection from participating in the conferences dealing with subjects other than the ailments and sufferings of the black or the third world women. There was a dearth of equal treatment of women in the Faculty of Women Studies Departments, who could make the black women aware of the actual history revolving around their predicament. One of the positive facts here is the representation of the sufferings and ailments as women experiences, which generalized the predicament of women as a whole (Lemieux, 2014). The creations by the black women were accepted as token, without any challenges or critical views. However considering these creations as black experiences is a kind of looking down on the efforts of the black women to voice out their opinions regarding their sufferings. The white women were unwilling to accept the dominations from the white men. Delving deep into the aspect, those who were oppressed from beforehand were unable to oppress others. However, being a part of this oppression, the women, irrespective of the tag, black or white, have learnt the basic dynamism of the movements. This acquaintance has enabled them to act according to the ideologies and establish their identities as the oppressors (Cohen Jackson, 2016). The story was not so simple. The women, in the process of altering their fates, faced severe oppression, which nullifies their attempts and resulted in the confession that these movements posed as an obstacle in the re-establishment of their individuality. The era of 1963 was a turning point in the life of women. This is when white women got employed as private household workers. This employment brings them out of the confinement from the four walls of the home. Treating the women as slaves compelled the women to treat the men as their enemy, nullifying the concept of brotherhood. Being anti-racist on one hand and not acknowledging the ability to oppress the other colored women applauds some white feminists in supporting their sisters in terms of fighting for their individuality (Mowatt, French Malebranche, 2013). Adrienne Rich is an example in this context, who has added to the power of the patriarchy by attaching a different perspective to it. Bell Hooks nullify the concept of strong anti-racist female tradition in terms of lack of evidence regarding the collective attempt of female advocates to preserve the rights of women. Movements were thus an agent to abolish malice like slavery and racism from the fates of women and ensure their societal upliftment. Music in civil rights movement Afro-American spirits, gospels and music were an important component of civil rights movement. This movement witnessed the conglomeration of singers and music composers for creating songs for increasing the enthusiasm of the people involved in movements, protests and marches (Cooper, 2016). Sometimes, songs were also created for adding momentum to the environment, making the wait for outcomes a thrilling one. Women, feminism and music The field of music can be considered as one of the other avenues selected by the women to express their individuality. A living example in this direction is the achievement of Grammy Award by rapper and actress Queen Latifah for UNITY in 1995. The song projects the domestic violence, which the women faced. Viewing it from the other perspective, objectification of female sexuality, through the song, is an affirmation of the patriarchal views regarding women. The song UNITY ignited a spark of revolt in the Afro-American community especially in terms of the violence, which the women had to face. Indulging in music is the plea of the black women, searching for liberation (Saucier Woods, 2015). Here, music specifically relates to rappers, where women had dominance far more than men. Advent of hip-hop in 1970s popularized this mass appeal by black women in search of an escape from this black tragedy. Typical forms of these appeals were graffiti art, break dancing and rapping, which upholded the attempts of the black women in terms of preserving their culture. However, as rap gained prominence in the music industry, initiatives of women were looked down upon. The major drive behind the success of rap was obsessiveness with wealth, glamour and the original projection of the women in their roots (Lindsay, 2015). In other words, rap formed an important component for bringing a new wave in the Black feminism movement. Viewing it from other perspective, rap strengthened the vision of the Afro-American women in terms of preserving the culture. Mention can be made of Beyonce, whose Lemonade redefined authority from the perspective of black women. The musical movie makes usage of the utopian imagery provides an escape to the black women from their tragic ailments and sufferings. This escape is like a fairytale, ending in happiness in the form of entrusting the women with the responsibility to women to re-shape their lives (Cooper, 2016). Movies directed by black women, especially Malcolm X, carry the legacy of womens liberation to the extent of their awakening to their individuality. The major drive behind acting on different roles was ultimately to get acquainted to the true self. Projecting black women in the lead role sheds off the tag black and enhances her identity. Beyonce along with their contemporaries like Kasi Lemmons, Winnie Harlow Shares have established a firm standpoint regarding uprooting the reign of patriarchy by creating mass appeals through their artistic creations. Therefore, it can be said that the movements were flexible enough to inspire the black women to fight for the restoration of their rights (Mowatt, French Malebranche, 2013). Although there were failures in the initial stages, determination, persistence and commitment of these women assisted in enhancement of their individuality, which added value and meaning to their existence. References Alexander-Floyd, N. G. (2017). Radical Black Feminism and the Fight for Social and Epistemic Justice.Broadening the Contours in the Study of Black Politics: Political Development and Black Women, 63. Boylorn, R.M., 2013. Blackgirl blogs, auto/ethnography, and crunk feminism.Liminalities: A Journal of Performance Studies,9(2), pp.73-82. Chambers, D., Worrall, R. (2017). The Frontiers of Sisterhood: Representations of Black Feminism in Spare Rib (19721979). InRe-reading Spare Rib(pp. 159-178). Palgrave Macmillan, Cham. Cohen, C. J., Jackson, S. J. (2016). Ask a Feminist: A Conversation with Cathy J. Cohen on Black Lives Matter, Feminism, and Contemporary Activism.Signs: Journal of Women in Culture and Society,41(4), 775-792. Cooper, B. C. (2016).But some of us are brave: Black women's studies. The Feminist Press at CUNY. Digby, T. (Ed.). (2013).Men doing feminism. Routledge. Evans-Winters, V. E. (Ed.). (2015).Black feminism in education: Black women speak back, up, and out. Peter Lang. Lemieux, J. (2014). Black feminism goes viral.Ebony Magazine,69(5), 126-131. Lindsay-Dennis, L. (2015). Black feminist-womanist research paradigm: Toward a culturally relevant research model focused on African American girls.Journal of Black Studies,46(5), 506-520. Love, K. L. (2016). Black Feminism: An Integrated Review of Literature.ABNF Journal,27(1). Meyers, D. T. (Ed.). (2014).Feminist social thought: A reader. Routledge. Mowatt, R. A., French, B. H., Malebranche, D. A. (2013). Black/female/body hypervisibility and invisibility: A Black feminist augmentation of feminist leisure research.Journal of Leisure Research,45(5), 644. Norwood, C. (2013). Perspective in Africana Feminism; Exploring Expressions of Black Feminism/Womanism in the African Diaspora.Sociology Compass,7(3), 225-236. Patterson, A. N., Howard, A., Kinloch, V. (2016). Black Feminism and Critical Media Literacy: Moving from the Margin to the Center.Meridians: feminism, race, transnationalism,15(1), 40-64. Saucier, P. K., Woods, T. P. (2015). Upgrade and Upstage: Injunctions Against Stephanie Rawlings?Blake,Black Feminism, and Hip Hop Studies at the Ledge (A Response to Forster).Journal of Popular Music Studies,27(3), 353-363. Smith, S. (2013). Black feminism and intersectionality.International Socialist Review,91, 6-24.

Society Does Not Define Me free essay sample

In movies everywhere we look we see societys version of perfect girls, which forces girls everywhere to believe thats how youre supposed to look. Because of society I grew up thinking that skinny was beautiful, but it turns out that wasnt true. During middle school I was bullied for various things, which made me think I wasnt beautiful. With this mindset I did whatever I could to fit societys standards of beautiful.I tried diets and when I couldnt see results fast enough I moved on to eating disorders. In health class I learned how dangerous eating disorders actually were and learned society didnt approve of them. I thought, What the hell can I do to be perfect? As I continued suffering from eating disorders thought I was becoming more beautiful. Even though thought was still beautiful others didnt, was still being bullied on how I look. We will write a custom essay sample on Society Does Not Define Me or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page What am I doing wrong? I asked myself everyday.I became more and more unhappy with how I looked. When I looked In the mirror I would point out a new flaw, one that didnt line up to what society craved. I thought being beautiful was a good thing, and I thought it would make me feel good about yeses but I was wrong. I tried makeup to cover up all the flaws I had, it never worked I Just looked like a clown. I was adopted and had epilepsy. It made me different; different was not accepted in the eyes of society. No matter what I did I was never satisfied with myself.After a battle between me and society I realized I am different for a reason and no matter what society thinks I am beautiful. I believe that society needs to change how they view perfect. They make It very difficult for people to live a happy day-to-day life. Girls are always worrying about how they look; they can never seem to be happy with themselves. In order for society to become more helpful Instead of harmful they need to stop saying skinny Is beautiful and that you should love yourself no matter what.Society puts a strain on girls self image, they view themselves as fat and ugly even if they arent. They strive to be perfect, but in reality nobody is. Since society isnt changing quickly enough, I decided I was the one who needed to change. I thought about what made me happy and I started not to care what others thought of me. By skirmish In magazines, on T V, in movies everywhere we look we see society version of isnt beautiful. With this mindset I did whatever I could to fit society standards of were and learned society didnt approve of them.I thought, What the hell can I do to be perfect? As I continued suffering from eating disorders I thought I was becoming more beautiful. Even though I thought I was still beautiful others didnt, I was still became more and more unhappy with how I looked. When I looked in the mirror I I believe that society needs to change how they view perfect.

Wind Power Process, Advantages and Disadvantages

Wind Power Process, Advantages and Disadvantages Introduction Wind power is a form of renewable natural energy which is generated from wind. Wind has emerged as one of the widely used sources of energy in the modern world, owing to its nature as a virtually inexhaustible source of energy. Wind power simply involves the process of converting wind energy into mechanical or electrical energy using wind turbines.Advertising We will write a custom research paper sample on Wind Power: Process, Advantages and Disadvantages specifically for you for only $16.05 $11/page Learn More Even though the use of wind power has been there for many centuries, it has never gained much popularity across the world compared with other sources of energy such as hydropower and solar energy, which are widely used to generate electricity. This, however, appears to have changed in the current world where the capacity for wind power generation is observed to have risen to as much as 50 percent in a year. As it would be observed, there are some obstacles that have restricted increased use of this reliable source of energy in most parts of the world. One common obstacle here is that wind farms are not just located anywhere, but in regions where large masses of moving air are present. In this regard, some of the most strategic location points of wind farms would be along coastlines or on large tracts of land where there is constant supply of wind. In most cases, it would not be easy for people to devote these strategic areas to wind farms while there are other useful ways of utilizing them. How Wind Power Works Wind power involves the use of turbines, the modern equivalent of windmills, to convert wind energy into a more useful form of energy. The wind exerts force on the turbine blades causing it to propel. This pressure puts the turbine’s shaft into motion, thus causing it to spin at a speed of between 10 and 20 revolutions in a minute. The kinetic energy of the moving air is then turned into mechanical pow er by the rotor shaft. The amount of energy generated from a wind turbine normally depends on a number of factors. These factors include, but are not limited to, the speed of wind, air density, and the overall area covered by the turbine blades. For effective performance, wind turbines require a minimum wind speed of about 12-14 km/h and a maximum of 90 km/h. Strong winds of about 50-60 km/h are enough to generate wind power at full capacity. However, wind turbines must be stopped on levels where wind the speed exceeds 90 km/h to avoid damage.Advertising Looking for research paper on management? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conversion of Mechanical Power to Electrical Energy Mechanical energy can further be processed into electrical energy using electric generators that are connected to the turbine’s shaft. According to Joselin and others (2007), wind turbines operate just like windmills in almost all aspec ts. The process begins with the wind blowing on the blades of the rotor causing it to spin into revolutions. These revolutions play a significant role in converting the kinetic energy of the wind into mechanical energy. The strength of the revolutions and the direction from which the wind is blowing are then detected by sensors within the turbine’s shaft. The rotor then turns towards the wind direction from where it automatically controls the operations of the turbine. The rotor is usually connected to a generator by the shaft and a gearbox. The generator would spin every time the rotor propels producing mechanical energy. This energy is then converted into electric energy by the generator using an inbuilt electromagnetic field. As the process continues, the electrical energy is carried to a substation using cables, where it is combined to generate a high voltage. The final product of wind power is then transmitted through power lines into transformers. Here, the voltage is r egulated into usable levels, before it is finally released for human consumption. Advantages of Wind Energy The use of wind power as a source of energy is associated with many benefits compared to other sources of energy. Following is a summary of some of the most common advantages of wind energy. Wind Energy is Free, Pure and Renewable One main advantage of wind energy over all the other forms of energy is that it is free, clean and renewable. This pure source of energy comes freely and can be acquired efficiently from just anywhere, since wind is widely distributed everywhere. Wind energy can be generated again and again, provided there is plenty and steady supply of moving air or wind. This has the meaning that, no matter how much wind energy is consumed every time, people will always access the same supply of wind energy in the future. More importantly, unlike conventional power plants that are known to emit a variety of air polluting substances, wind power is a clean, non-pollu ting source of energy.Advertising We will write a custom research paper sample on Wind Power: Process, Advantages and Disadvantages specifically for you for only $16.05 $11/page Learn More Wind plants don’t emit air pollution or green gases, and it is this non-polluting nature that makes them environment-friendly (Jaramillo, Borja Huacuz, 2004). Cost of Production As it would be observed, the production cost of wind energy has dropped steadily in the last one or so decades. The only bigger costs which investors in the energy sector are likely to incur as far as wind power is concerned would be through site preparation, machinery, and installation. Moreover, wind turbines consume a small piece of land which means that the remaining space can be utilized for other useful purposes in life. When combined with other energy alternatives, wind energy can generate adequate energy supply for both domestic and commercial use in the society. Creation of Jobs R anging from the installation of wind turbines to the maintenance of wind farms, wind energy offers many job opportunities for the people. However, a wide range of these opportunities are available for those people who live on hilly areas and around coastal areas where most wind farms are located. Reduction of Fossil Fuel Consumption Wind is a reliable source of energy which can serve as an alternative for petroleum and gas products, among other nonrenewable sources of energy thus helping to control air pollution. More importantly, effective and efficient use of wind energy can reduce human dependence on fossil fuels, and this helps to minimize the potential effects of global warming. Variety of Wind Turbines Wind turbines are produced in a range of types and sizes. What this means is that, many people and businesses can acquire them easily and use them to generate their own mechanical or electric energy without having to incur a lot of expenses (Chen, Guerrero Blaabjerg, 2009). Eco nomical benefits Wind energy resources are usually put up in remote areas where wind is plenty. In that case, they serve as steady and significant revenue generators to rural land owners and the communities inhabiting those economically disadvantaged regions.Advertising Looking for research paper on management? Let's see if we can help you! Get your first paper with 15% OFF Learn More Moreover, land owners can supplement revenues on land use by other streams obtained through land leasing agreements between them and energy companies. Also, wind farms do play a key role in increasing the tax base for the rural communities. Preservation of Natural Resources Effective use of wind power by communities helps to preserve natural resources and non-renewable sources of energy. For instance, every time we use wind energy as an alternative source of energy, we end up saving a significant amount of coal, which is nonrenewable. In this regard, manufacture of many wind farms across the world would play a significant role in eliminating burning of coal to produce energy. This will not only help to preserve resources, but it will also be an effective way of minimizing air pollution caused by many nonrenewable energy resources. Disadvantages of Wind Power There is a range of disadvantages of wind power and below is a summary of some of the common ones as they are observed from va rious regions across the world, where the idea of wind power has been implemented. Wind Unreliability Factor As it would be observed, the strength of wind is never constant, and therefore cannot be relied upon to generate steady mechanical and electric energy for human and industry consumption. Moreover, the nature of wind will tend to vary with seasons and weather patterns, and this would have the meaning that people will have to go without power sometimes, especially when there are no strong winds to drive the turbines. Environmental Concerns The fact that wind power plants have no pollution effects to the air does not mean that they are 100 percent environment friendly. As a matter of fact, there are some concerns over the aesthetic impacts of wind turbines, the noise produced by rotating rotor blades, and birds being killed by the revolving rotors of the turbines. There have been constant claims from the wildlife department that wind turbines have affected the lifestyles of migr atory birds. More importantly, they have also contributed to high bird mortality in some regions. There have also been claims that, apart from slashing birds to death with the rotors, wind turbines can also cause explosion of bats’ lungs, thus leading to instant deaths of these nocturnal birds. According to Pedersen and Waye (2004), there is also a possibility of high rates of sound and air pollution as wind turbines during the assembling of the turbines. Even though some of these concerns have been resolved using modern technological developments, there are still many environment issues associated with the generation of wind energy in most regions. Supply and Transport Issues Wind is known to be intermittent. This means that, moving air would not be available all the time to generate the required levels of electricity for human consumption. This is actually one of the major challenges associated with wind as a source of energy. Moreover, wind energy cannot be stored for futu re use, and this brings many complications to people who rely on it as their main source of energy. Another common challenge here is that, not all types of winds can be used to meet the average electricity demands. On a further note, perfect wind sites are usually found in remote regions far from urban centers where the demands for electricity are very high. Another possible supply issue linked with wind energy is that, development of wind resources is likely to compete with other land uses which may be more valuable compared with the idea of power generation. Levels of Production/ Energy Density Generally, wind turbines generate less electric energy compared to hydro power stations and other alternative energy sources that are driven by fossil fuels. In this regard, multiple wind turbines will be required in a single wind farm in order to generate a reasonable amount of energy that would bring a significant impact to the communities. Petitions and Protests on Wind Farms Many people in the current world are not used to wind power. This, however, explains the many protests and petitions that are raised to confront any wind farm development plans raised in the modern world, especially in the developing countries, where people are less informed of the diverse benefits associated with this source energy. This strong opposition by environment conservationists and opponents of the wind power idea has been one of the many social issues that have continued to hinder the development of wind energy in most developing countries. Preservation of the Natural Form Large structures such as wind turbines usually don’t give a good picture of a place. As a matter of fact, many people, especially those who have the heart of preserving the environment, would tend to see these unsightly structures as spoilers of the landscape (Asif and Muneer, 2007). For these reasons, they would tend to remain adamant in ensuring that the natural beauty of the landscape is strictly retaine d for the benefits of humans and animals. Cost issues The initial cost for installation of wind turbines and maintenance of the entire wind farm is usually very high. This has continued to serve as a major obstacle in the development of wind power as a reliable alternative to fossil fuels and other sources of energy. National Security Study has revealed wind energy as a threat to national security. It has been observed that wind farm resources penetrate the RADAR coverage, thus confusing the system. This happens as the turbine blades rotate at very high speeds causing holes in the RADAR system. Even though there are ways to mitigate this problem, the damage can turn out being too heavy for the communities by the time it is identified and resolved. Relationship between Wind Power and the Environment Wind power is less pollutant to the environment compared to other renewable and non-renewable energy sources. The extraction, supply and processing of natural gas, coal and fossil fuels t o generate energy is likely to release pollutant substances to the atmosphere, thus bringing serious effects to living things and the environment. Unlike other sources of energy which are known to emit high levels of pollution to the environment, wind power is a pure energy source that can’t be associated with any form of pollution or nuclear waste, since it does not utilize fossil fuel. This, however, does not imply there are no negative environmental impacts that are associated with the generation of wind power. Even though wind is itself a pure source of energy, the process of converting the energy it generates to a useful form would require inclusion of energy which is in form of fossil fuel (Sahin, 2004). Moreover, the construction of wind farms requires removal of massive vegetation covers. One turbine, for instance, is said to require a clearance of about 3 to 5 acres of land. This means that vegetation on a wider area of land will have to be cleared to pave way for la rge scale wind farms. This massive deforestation is likely to bear serious long-term effects on the environment. A good example here is erosion of the soil, which may necessitate other more serious harms to the environment. Also, the constructions of wind farms at high altitudes to enable them gather more wind has come down with its own effects. As a result of this, many turbines have constantly failed owing to icing. This has often resulted to the application of de-icing substances on surfaces of the wind turbines as a way of combating the problem. The de-icing fluid is a compound of ethylene-glycol and propylene-glycol, both of which are toxic chemicals. According to Venkataraman and Elango (1998), the hazardous de-icing fluid is likely to contaminate the environment around the wind turbines, thus creating unfavorable conditions for humans, wildlife, and fish. The other common damage to the environment which may occur as a result of wind energy generation is the destruction of bat and bird populations as discussed in this paper. Based on observations from previous wind power reports, wind turbines practically have adverse impacts on wildlife and birds. Based on these observations, the generation of wind power is not 100 percent friendly to the environment, unlike what many people across the world would tend to presume. The Future of Wind Power Regardless of the numerous disadvantages and environmental impacts associated with wind power, it is still the most preferable alternative of nonrenewable sources of energy in the modern world where plans to adopt renewable sources of energy are rapidly taking shape (Hosansky, 2011). This is evident in countries such as China and the U.S., where the use of wind power is observed to be increasing at an overwhelming rate. Improvements on technological approaches and better generation ways have led to a steady decline of the overall cost of wind power over the last ten years. This, really, is another reason which is likel y to see the use of wind power across the world increase abundantly in the near future. Conclusion As it is observed in this report, wind energy, though a controversial matter when it comes to the extent by which it is friendly to the environment, is still one of the fastest-growing renewable sources of energy across the world. Wind power, just like any other source of energy, comprises of both benefits and disadvantages, all of which seem to have a significant impact on this renewable source of energy. Wind power is not hundred percent friendly to the environment as it is observed in this paper, where a number of arguments have been highlighted to support the claim. However, as a pure, renewable source of energy having minimal effects on the environment, wind power is the most appropriate source of energy that can be used to replace nonrenewable sources of energy such fossil fuel and coal, which are known to have immense impacts on the environment. References Asif, M., Muneer, T. (2007). Energy supply, its demand and security issues for developed and emerging economies. Renewable and Sustainable Energy  Reviews, 11(7), 138-141. Chen, Z., Guerrero, J., Blaabjerg, F. (2009). A review of the state of the art of power electronics for wind turbines. Power Electronics, 24(8), 185-187. Hosansky, D. (2011). Wind Power: Is wind energy good for the environment?  Researcher, 21(13), 281-312. Jaramillo, O., Borja, M., Huacuz, J. (2004). Using hydropower to complement wind energy: a hybrid system to provide firm power. Renewable Energy, 29(11), 188-190. Joselin H., Iniyan, S., Sreevalsan, E., Rajapandian, S. (2007). A review of wind energy technologies. Renewable Sustainable Energy Reviews, 11(6), 111- 114. Pedersen, E., Waye, K. (2004). Perception and annoyance due to wind turbine noise.  The Journal of the Acoustical Society of America, 17(116), 346-350. Sahin, A. (2004). Progress and recent trends in wind energy. Progress in Energy and  Combustion Science , 30(5), 50-54. Venkataraman, B and Elango, D. (1998). Renewable Energy Sources. Hindustan  College of Engineering, 17(5), 16-19.

Answer questions from articles Essay Example | Topics and Well Written Essays - 750 words

Answer questions from articles - Essay Example Schor explains that these statistics underpin the need for the revival of the discourse that will call all individuals and households to reconsider their material requirements. In order for this right to be enforced, she suggests that governments should guarantee their citizens of employment, supply their basic needs, and consider using government income vouchers or transfers (Schor 7). A second element that Schor believes can help overcome the problems in American consumerism is an emphasis on quality of life rather than quantity of stuff. Schor states that it was in the 1970s that the indicators of the quality of the life of Americans stopped reflecting their incomes and the country’s Gross Domestic Product. She states that there is evidence suggesting that earning an income above the poverty line does not necessarily improve an individual’s well-being. She asserts that the lack of emphasis on well-being among the people above the poverty line is an indication of people’s concern with relative rather than absolute income. She states that an alternative explanation to the unlikely relationship between income and well-being could be the fact that increased output undermines factors yielding welfare (Schor 7). She observes that this is seen in the increase in work time, the decline in family leisure and time for one’s community. She offers that these two things exemplify the inverse relationship between growth and social capital. Growth and increased materialism affects a person’s appreciation of personal meaning, social commitment, community, religion, and family, all of which are alternative sets of values. She advises that the labor market should be restructured to allow workers more time to themselves and that companies that require their workers to work for excessive hours should be penalized. Schor believes that this will serve as an alternative indicator of GNP,

Financial analysis Case Study Example | Topics and Well Written Essays - 3250 words

Financial analysis - Case Study Example The report concludes with the summary of the EMI Group's financial performance in 2005. EMI Group PLC is a large company specializing on the music industry. The firm has a long history dating back to 1887. Since that time EMI Group has developed from a small recording enterprise into a major player of both music recording and music publishing markets. It is divided in to two divisions: EMI Music operates in the recording industry, while EMI Music Publishing is among the largest and the most successful music publishers. EMI Group operates directly in more than 50 countries with licensees in additional 20 and employs more than 6,600 people (EMI Group 2005a). EMI Music has about 6,000 employees worldwide, and EMI Music Publishing employs 630 staff. The strategy of the company is to deliver music - the main product of EMI Group - "in any form [including compact discs, tapes, and digital formats], at any time, and any place" (EMI Group 2005a). In line with this formula it is important to stress that EMI Group rapidly develops its departments focused on digital music sales. "By the middle of 2005 digital revenues accounted for just under 5 per cent EMI Group's total revenues, with that figure expected to reach 25 per cent in five years" (EMI Group 2005a). The catalogue of music published by EMI contains over 1.5 million titles of both classic and contemporary genres. The company offers songs of every genre to customers. Profit and Loss Account Profit and loss account of the company provides a record of all revenues and expenditures and totals the profit or loss over a given period of time (in our case the financial year ending March 31, 2005). To analyze the profit and loss account of EMI Group we will look into the following types of profit: gross profit (revenues from sales minus costs of goods sold), net profit (gross profit minus overheads), pre-tax profits (net profit plus one-off items), and profits after tax (pre-tax profits minus tax). The analysis of the profit and loss account is made in order to identify trends in sales, gross profit, expenses, stability of income, and growth in earnings per share. Group turnover for EMI Group is 1,942.8 m in 2005, while in 2004 it was 2,120.7 m (EMI Group Annual Report 2005b, p. 69). However these figures cannot give us enough information about the changes in profitability of the company. Cost of sales indicated in 2005 were 1,225.3 m in compare with 1,404.7 m in 2004 (EMI Group Annual Report 2005b, p. 69). Therefore, EMI Group sold fewer goods in 2005 than in 2004. The gross profit in 2005 was 717.5 m, while in 2004 it was 716 m. This gives us the notion that the profit from sales is slightly rising in compare to previous year. Analyzing the net or operating profits one can see that group net profit was 182.2 m in 2005 and 60.1 m in 2004 (EMI Group Annual Report 2005b, p. 69) - the net profit has risen significantly in 2005. Pre-tax profit aggregates 91.8 m, and profit after tax is 60.6 m in 2005, while it was a loss of 52.8 m and 72.5 m correspondingly in 2004. However absolute numbers can give us only partial information. Deeper analysis re quires examining relative figures, such as profit margin (pre-tax profit divided by sales). According to the information from FAME (2005) the average profit margin was 6.49 for EMI Group in the past ten years. In 2005 it was 4.73, while in 2004 profit margin was -2.50, and in 2003 it was 14.68. Thus

Inflation Rate Essay Example for Free

Inflation Rate Essay Inflation means a sustained increase in the aggregate or general price level in an economy. Inflation means there is an increase in the cost of living. What are the economic policies that lead to low inflation in an economy? 1. Monetary Policy In the UK and US, monetary policy is the most important tool for maintaining low inflation. In the UK, monetary policy is set by the MPC of the Bank of England. They are given an inflation target by the government. This inflation target is 2%+/-1 and the MPC use interest rates to try and achieve this target. The first step is for the MPC to try and predict future inflation. They look at various economic statistics and try to decide whether the economy is overheating. If inflation is forecast to increase above the target, the MPC will increase interest rates. Increased interest rates will help reduce the growth of Aggregate Demand in the economy. The slower growth will then lead to lower inflation. Higher interest rates reduce consumer spending because: * Increased interest rates increase the cost of borrowing, discouraging consumers from borrowing and spending. * Increased interest rates make it more attractive to save money * Increased interest rates reduce the disposable income of those with mortgages. * Higher interest rates increased the value of the exchange rate leading to lower exports and more imports. Base Rates and Inflation Base interest rates were increased in the late 1980s / 1990 to try and control the rise in inflation. 2. Supply Side Policies Supply side policies aim to increase long term competitiveness and productivity. For example, privatisation and deregulation were hoped to make firms more productive. Therefore, in the long run supply side policies can help reduce inflationary pressures. However, supply side policies work very much in the long term. They cannot be used to reduce sudden increases in the inflation rate. 3. Fiscal Policy This is another demand side policy, similar in effect to Monetary Policy. Fiscal policy involves the government changing tax and spending levels in order to influence the level of Aggregate Demand. To reduce inflationary pressures the government can increase tax and reduce government spending. This will reduce AD. 4. Exchange Rate Policy In the late 1980s the UK joined the ERM, as a means to control inflation. It was felt that by keeping the value of the pound high, it would help reduce inflationary pressures. The policy did reduce inflation, but at the cost of a recession. To maintain the value of the  £ against the DM, the government had to increase interest rates to 15%. The UK no longer uses this as an inflationary policy. 5. Wage Control Wage growth is a key factor in determining inflation. If wages increase quickly it will cause high inflation. In the 1970s, there was a brief attempt at wage controls which tried to limit wage growth. However, it was effectively dropped because it was difficult to widely enforce. Main Cause of Inflation 1. Demand pull inflation If the economy is at or close to full employment then an increase in AD leads to an increase in the price level. As firms reach full capacity, they respond by putting up prices leading to inflation. AD can increase due to an increase in any of its components C+I+G+X-M The link between output and inflation suggests that there will be a similar link between inflation and unemployment, The Phillips curve initially showed a link between money wages and unemployment, it was then argued an increase in wages would lead to inflation 2. Cost Push Inflation If there is an increase in the costs of firms, then firms will pass this on to consumers. There will be a shift to the left in the AS. Cost push inflation can be caused by many factors 1. The Labour Market If trades unions can present a common front then they can bargain for higher wages, this will lead to wage inflation. 2. Import prices One third of all goods are imported in the UK. If there is a devaluation then import prices will become more expensive leading to an increase in inflation E.G. a German car costs DM 40,000. If the exchange rate is DM  £1:3DM then it will be priced at  £13,333. If the E.R falls to  £1: 2DM then it will be priced at  £20,000 3. Raw Material Prices, The best example is the price of oil, if the oil price increase by 20% then this will have a significant impact on most goods in the economy and this will lead to cost push inflation. E.g. in early 2008, there was a spike in the price of oil to over $150 causing a rise in inflation. 4. Profit Push Inflation When firms push up prices to get higher rates of inflation. 5. Declining productivity If firms become less productive and allow costs to rise, this invariably leads to higher prices. Source: http://www.economicshelp.org/index.html PHILIPPINES INFLATION RATE The inflation rate in Philippines was recorded at 2.90 percent in December of 2012. Inflation Rate in Philippines is reported by the The National Statistics Office (NSO). Historically, from 1958 until 2012, Philippines Inflation Rate averaged 9.1 Percent reaching an all time high of 62.8 Percent in September of 1984 and a record low of -2.1 Percent in January of 1959. In Philippines, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcoholic beverages, tobacco, furnishing, household equipment, restaurants and other goods and services account for the remaining 15 percent. This page includes a chart with historical data for Philippines Inflation Rate. Source: http://www.tradingeconomics.com/philippines/inflation-cpi causes Historically, a great deal of economic literature was concerned with the question of what causes inflation and what effect it has. There were different schools of thought as to the causes of inflation. Most can be divided into two broad areas: quality theories of inflation and quantity theories of inflation. The quality theory of inflation rests on the expectation of a seller accepting currency to be able to exchange that currency at a later time for goods that are desirable as a buyer. The quantity theory of inflation rests on the quantity equation of money, that relates the money supply, itsvelocity, and the nominal value of exchanges. Adam Smith and David Hume proposed a quantity theory of inflation for money, and a quality theory of inflation for production.[citation needed] Currently, the quantity theory of money is widely accepted as an accurate model of inflation in the long run. Consequently, there is now broad agreement among economists that in the long run, the inflation rate is essentially dependent on the growth rate of money supply relative to the growth of the economy. However, in the short and medium term inflation may be affected by supply and demand pressures in the economy, and influenced by the relative elasticity of wages, prices and interest rates.[29] The question of whether the short-term effects last long enough to be important is the central topic of debate between monetarist and Keynesian economists. In monetarism prices and wages adjust quickly enough to make other factors merely marginal behavior on a general trend-line. In the Keynesian view, prices and wages adjust at different rates, and these differences have enough effects on real output to be long term in the view of people in an economy. Keynesian economic theory proposes that changes in money supply do not directly affect prices, and that visible inflation is the result of pressures in the economy expressing themselves in prices. Monetarist view Monetarists believe the most significant factor influencing inflation or deflation is how fast the money supply grows or shrinks. They consider fiscal policy, or government spending and taxation, as ineffective in controlling inflation.] According to the famous monetarist economist Milton Friedman,Inflation is always and everywhere a monetary phenomenon.[49] Some monetarists, however, will qualify this by making an exception for very short-term circumstances. Unemployment A connection between inflation and unemployment has been drawn since the emergence of large scale unemployment in the 19th century, and connections continue to be drawn today. In Marxian economics, the unemployed serve as a reserve army of labour, which restrain wage inflation. In the 20th century, similar concepts in Keynesian economics include the NAIRU (Non-Accelerating Inflation Rate of Unemployment) and the Phillips curve. Rational expectations theory For more details on this topic, see Rational expectations theory. Rational expectations theory holds that economic actors look rationally into the future when trying to maximize their well-being, and do not respond solely to immediate opportunity costs and pressures. In this view, while generally grounded in monetarism, future expectations and strategies are important for inflation as well. A core assertion of rational expectations theory is that actors will seek to head off central-bank decisions by acting in ways that fulfill predictions of higher inflation. This means that central banks must establish their credibility in fighting inflation, or economic actors will make bets that the central bank will expand the money supply rapidly enough to prevent recession, even at the expense of exacerbating inflation. Thus, if a central bank has a reputation as being soft on inflation, when it announces a new policy of fighting inflation with restrictive monetary growth economic agents will not believe that the policy will persist; their inflationary expectations will remain high, and so will inflation. On the other hand, if the central bank has a reputation of being tough on inflation, then such a policy announcement will be believed and inflationary expectations will come down rapidly, thus allowing inflation itself to come down rapidly with minimal economic disruption. Austrian view For more details on this topic, see The Austrian view of inflation and monetary inflation The Austrian School asserts that inflation is an increase in the money supply, rising prices are merely consequences and this semantic difference is important in defining inflation.[50] Austrians stress that inflation affects prices in various degree, i.e. that prices rise more sharply in some sectors than in other sectors of the economy. The reason for the disparity is that excess money will be concentrated to certain sectors, such as housing, stocks or health care. Because of this disparity, Austrians argue that the aggregate price level can be very misleading when observing the effects of inflation. Austrian economists measure inflation by calculating the growth of new units of money that are available for immediate use in exchange, that have been created over time.[51][52][53] Critics of the Austrian view point out that their preferred alternative to fiat currency intended to prevent inflation, commodity-backed money, is likely to grow in supply at a different rate thaneconomic growth. Thus it has proven to be highly deflationary and destabilizing, including in instances where it has caused and prolonged depressions.[54] Real bills doctrine Main article: Real bills doctrine Within the context of a fixed specie basis for money, one important controversy was between the quantity theory of money and the real bills doctrine (RBD). Within this context, quantity theory applies to the level of fractional reserve accounting allowed against specie, generally gold, held by a bank. Currency and banking schools of economics argue the RBD, that banks should also be able to issue currency against bills of trading, which is real bills that they buy from merchants. This theory was important in the 19th century in debates between Banking and Currency schools of monetary soundness, and in the formation of the Federal Reserve. In the wake of the collapse of the international gold standard post 1913, and the move towards deficit financing of government, RBD has remained a minor topic, primarily of interest in limited contexts, such as currency boards. It is generally held in ill repute today, with Frederic Mishkin, a governor of theFederal Reserve going so far as to say it had been completely discredited. The debate between currency, or quantity theory, and banking schools in Britain during the 19th century prefigures current questions about the credibility of money in the present. In the 19th century the banking school had greater influence in policy in the United States and Great Britain, while the currency school had more influence on the continent, that is in non-British countries, particularly in the Latin Monetary Union and the earlier Scandinavia monetary union. Anti-classical or backing theory Another issue associated with classical political economy is the anti-classical hypothesis of money, or backing theory. The backing theory argues that the value of money is determined by the assets and liabilities of the issuing agency.[55] Unlike the Quantity Theory of classical political economy, the backing theory argues that issuing authorities can issue money without causing inflation so long as the money issuer has sufficient assets to cover redemptions. There are very few backing theorists, making quantity theory the dominant theory explaining inflation.[citation needed] - Controlling inflation A variety of methods and policies have been used to control inflation. Stimulating economic growth If economic growth matches the growth of the money supply, inflation should not occur when all else is equal.[56] A large variety of factors can affect the rate of both. For example, investment inmarket production, infrastructure, education, and preventative health care can all grow an economy in greater amounts than the investment spending.[57][58] Monetary policy The U.S. effective federal funds ratecharted over fifty years. Main article: Monetary policy Today the primary tool for controlling inflation is monetary policy. Most central banks are tasked with keeping their inter-bank lending rates at low levels, normally to a target rate around 2% to 3% per annum, and within a targeted low inflation range, somewhere from about 2% to 6% per annum. A low positive inflation is usually targeted, as deflationary conditions are seen as dangerous for the health of the economy. There are a number of methods that have been suggested to control inflation. Central banks such as the U.S. Federal Reserve can affect inflation to a significant extent through setting interest rates and through other operations. High interest rates and slow growth of the money supply are the traditional ways through which central banks fight or prevent inflation, though they have different approaches. For instance, some follow a symmetrical inflation target while others only control inflation when it rises above a target, whether express or implied. Monetarists emphasize keeping the growth rate of money steady, and using monetary policy to control inflation (increasing interest rates, slowing the rise in the money supply). Keynesians emphasize reducing aggregate demand during economic expansions and increasing demand during recessions to keep inflation stable. Control of aggregate demand can be achieved using both monetary policy and fiscal policy (increased taxation or reduced government spending to reduce demand). Fixed exchange rates Under a fixed exchange rate currency regime, a countrys currency is tied in value to another single currency or to a basket of other currencies (or sometimes to another measure of value, such as gold). A fixed exchange rate is usually used to stabilize the value of a currency, vis-a-vis the currency it is pegged to. It can also be used as a means to control inflation. However, as the value of the reference currency rises and falls, so does the currency pegged to it. This essentially means that the inflation rate in the fixed exchange rate country is determined by the inflation rate of the country the currency is pegged to. In addition, a fixed exchange rate prevents a government from using domestic monetary policy in order to achieve macroeconomic stability. Under the Bretton Woods agreement, most countries around the world had currencies that were fixed to the US dollar. This limited inflation in those countries, but also exposed them to the danger of speculative attacks. After the Bretton Woods agreement broke down in the early 1970s, countries gradually turned to floating exchange rates. However, in the later part of the 20th century, some countries reverted to a fixed exchange rate as part of an attempt to control inflation. This policy of using a fixed exchange rate to control inflation was used in many countries in South America in the later part of the 20th century (e.g. Argentina (1991–2002), Bolivia, Brazil, and Chile). Gold standard The gold standard is a monetary system in which a regions common media of exchange are paper notes that are normally freely convertible into pre-set, fixed quantities of gold. The standard specifies how the gold backing would be implemented, including the amount of specie per currency unit. The currency itself has no innate value, but is accepted by traders because it can be redeemed for the equivalent specie. A U.S. silver certificate, for example, could be redeemed for an actual piece of silver. The gold standard was partially abandoned via the international adoption of the Bretton Woods System. Under this system all other major currencies were tied at fixed rates to the dollar, which itself was tied to gold at the rate of $35 per ounce. The Bretton Woods system broke down in 1971, causing most countries to switch to fiat money – money backed only by the laws of the country. According to Lawrence H. White, an F. A. Hayek Professor of Economic History who values the Austrian tradition,[59] economies based on the gold standard rarely experience inflation above 2 percent annually.[60] However, historically, the U.S. saw inflation over 2% several times and a higher peak of inflation under the gold standard when compared to inflation after the gold standard.[61] Under a gold standard, the long term rate of inflation (or deflation) would be determined by the growth rate of the supply of gold relative to total output.[62] Critics argue that this will cause arbitrary fluctuations in the inflation rate, and that monetary policy would essentially be determined by gold mining.[63][64] Wage and price controls Another method attempted in the past have been wage and price controls (incomes policies). Wage and price controls have been successful in wartime environments in combination with rationing. However, their use in other contexts is far more mixed. Notable failures of their use include the 1972 imposition of wage and price controls by Richard Nixon. More successful examples include the Prices and Incomes Accord in Australia and the Wassenaar Agreement in the Netherlands. In general, wage and price controls are regarded as a temporary and exceptional measure, only effective when coupled with policies designed to reduce the underlying causes of inflation during the wage and price control regime, for example, winning the war being fought. They often have perverse effects, due to the distorted signals they send to the market. Artificially low prices often cause rationing and shortages and discourage future investment, resulting in yet further shortages. The usual economic analysis is that any product or service that is under-priced is overconsumed. For example, if the official price of bread is too low, there will be too little bread at official prices, and too little investment in bread making by the market to satisfy future needs, thereby exacerbating the problem in the long term. Temporary controls may complement a recession as a way to fight inflation: the controls make the recession more efficient as a way to fight inflation (reducing the need to increase unemployment), while the recession prevents the kinds of distortions that controls cause when demand is high. However, in general the advice of economists is not to impose price controls but to liberalize prices by assuming that the economy will adjust and abandon unprofitable economic activity. The lower activity will place fewer demands on whatever commodities were driving inflation, whether labor or resources, and inflation will fall with total economic output. This often produces a severe recession, as productive capacity is reallocated and is thus often very unpopular with the people whose livelihoods are destroyed (see creative destruction). Cost-of-living allowance The real purchasing-power of fixed payments is eroded by inflation unless they are inflation-adjusted to keep their real values constant. In many countries, employment contracts, pension benefits, and government entitlements (such as social security) are tied to a cost-of-living index, typically to the consumer price index.[65] A cost-of-living allowance (COLA) adjusts salaries based on changes in a cost-of-living index. Salaries are typically adjusted annually in low inflation economies. During hyperinflation they are adjusted more often.[65] They may also be tied to a cost-of-living index that varies by geographic location if the employee moves. Annual escalation clauses in employment contracts can specify retroactive or future percentage increases in worker pay which are not tied to any index. These negotiated increases in pay are colloquially referred to as cost-of-living adjustments (COLAs) or cost-of-living increases because of their similarity to increases tied to externally determined indexes.