Indigenous Aboriginal And Aboriginal People - 1216 Words

Indigenous Australians are probably descendants of the first modern humans to migrate out of Africa to Asia, roughly 70,000 years ago, arriving in Australia around 50,000 years ago. There is great diversity among different Indigenous communities and societies in Australia, each with its own unique mixture of cultures, customs and languages. In present-day Australia these groups are further divided into local communities. At the time of initial European settlement, over 250 languages were spoken; it is currently estimated that 120 to 145 of these remain in use, and all but 13 are considered to be endangered. Aboriginal people today mostly speak English, with Aboriginal phrases and words being added to create Australian Aboriginal English (which also has a tangible influence of Indigenous languages in the phonology and grammatical structure). The broad term Aboriginal Australians includes many regional groups that often identify under names from local Indigenous languages. These include: †¢ Koori (or Koorie) in New South Wales and Victoria (Victorian Aborigines); †¢ Ngunnawal in the Australian Capital Territory and surrounding areas of New South Wales; †¢ Goorie in South East Queensland and some parts of northern New South Wales; †¢ Murrdi in Southwest and Central Queensland; †¢ Murri in other parts of Queensland where specific collective names (such as Gorrie or Murrdi) are not used; †¢ Nyungar in southern Western Australia; †¢ Yamatji in central Western Australia; †¢ Wangai in theShow MoreRelatedIndigenous Peoples Of Aboriginal Communities1592 Words   |  7 Pagesâ€Å"Indigenous peoples are commonly among the poorest and most vulnerable segments of society† (World Bank, 2001). Confronted with these bleak economic statistics, nations across the world are being forced to recognize the plights of their Indigenous communities. (Peredo, 2009). Across Canada, Aboriginal communities are diverse and widespread, including First Nations peoples, Inuit and Metis, many of whom live in far isolated northern communities, and many yet in bustling metropolises. Despite the tremendousRead MoreAboriginal Australians : The Indigenous People Of Australia Essay1306 Words   |  6 PagesIntroduction Aboriginal Australians are the indigenous people of Australia. They are one of the oldest existing cultures in the world and the first known inhabitants of Australia. The Aboriginal Australians are believed to be the first people to leave Africa â€Å"about 70,000 years ago† (â€Å"Migration to Australia†). The Aboriginals Australian community consists of unique characteristics of cultural expression, social structure, diversity, and have faced many contemporary challenges. Cultural ExpressionsRead MoreThe Aboriginal And Indigenous People Are Treated As Victims For Whom Someone Else Must Find Solutions2050 Words   |  9 Pagesâ€Å"Solutions will not be found while the indigenous people are treated as victims for whom someone else must find solutions†- Malcom Fraser, former Prime Minister of Australia. In the ideal Australia – the society is accepting of other cultures, specifically the Aboriginal and Torres Strait Islander peoples, their culture and their beliefs. While and equal society within Australia is completely possible, given our history and the current stance of the non-indigenous population, this will be difficult.Read More Living the Aboriginal Way879 Words   |  4 PagesThe Aboriginal people are one of few indigenous people left in our world. The Aboriginals live in Australia and have, as many indigenous people/groups, been treated badly for years. However they are being treated better now than before, but as an old group with old traditions it is hard to live in the same world as people who do not live by their culture. First in this article Aboriginal history will be compared to present time, succeeded by/before a description of two issues the indigenous peopleRead MoreWork Effectively with Aboriginal and / or Torres Strait Islander People1300 Words   |  6 PagesWork Effectively with Aboriginal and / or Torres Strait Islander people 1. How many years ago, is it estimated, that the shape of Australia’s coastline was defined? †¢ 6000 years ago 2. In what year did the Dutch first explore Australia’s coastline? †¢ 1606 3. In what year did they proclaim Botany bay as a penal colony? †¢ 1788 4. What disease in 1789 affected the Aboriginal population? †¢ Small pox 5. What happened to Aboriginal land in 1794? †¢ Aboriginals were dispossessed ofRead MoreFamily Care Centre : An Indigenous Family Support Centre1164 Words   |  5 PagesKummara Family Care Centre is an indigenous family support centre. The Stronger Indigenous Families Centre provides services such as referral, advocacy, education and training. Kummara also offers social and recreational groups in which families have the opportunity to meet and interact with other indigenous families. Quick Facts About The Region Kummara Indigenous Family Care is located in the suburb of West End, the ward of The Gabba in the council of Brisbane, the state electorate of South BrisbaneRead MoreEffects Of Australian Mining Boom On The Aboriginal People1677 Words   |  7 PagesÃ¥ ¤ Ã¦â„¢ ¨Ã¥ ¤ © Student ID: 43755428 Course code: CHIN7160 Due day: 23/08/2015 The Effects of Australian Mining Boom on the Aboriginal People Started from late 1800s, Australian mining boom is an inevitable part of modern Australian history. From gold and copper to iron and gas, the several terms of mining boom made great contribution to Australian community and economy including providing source of employment, attracting immigrants and stimulating international trading. The mining boom is consideredRead MoreThe Effects Of The European Settlement On The Indigenous People Of Australia847 Words   |  4 Pagesor religion. We should all have this in common as we are all part of humanity. However, Indigenous people did not always have these rights (Ag.gov.au, 2015). Aside from basic human rights, Indigenous people also have their own rights specific to their culture. Before 1967, Indigenous people had different rights in different states and the Australian federal government did not have any jurisdiction over Aboriginal affairs until Australia’s constitution was amended for this purpose in 1967 (Moadoph.govRead MoreAbo riginals Marginalised in Todays Society1002 Words   |  5 PagesIndigenous Australians marginalized in today’s society Introduction Archaeologists believe that aboriginals first came to Australia about 45, 000 years ago and were the only population of humans in Australia until the British invasion. There are about 500 different aboriginal groups each with their own language and territory and usually made up of several separate clans. The aboriginals of Australia are marginalised in today society. This marginalisation began right back during the British invasionRead MoreAustralian Aboriginal Culture : Australia1323 Words   |  6 PagesAustralian Aboriginals Culture The Aboriginals are the indigenous people from Australia, and they are the oldest living culture in the history of the world (Australian Government 2008). Their ability to adapt and change over time are one of the reasons why their culture has survived for so long (Australian Government 2008). The indigenous communities in Australia kept their culture alive for so long by passing down their knowledge of arts, rituals, and performances from one generation to another

Analysis of the French Ambassadors Free Essays

Holbein’s piece of the French Ambassadors (23-11) depicts two people standing in what seems to be an office or study. One man, the one on the left seems to be a patron or some sort of a wealthy man. You can tell by the clothes he is wearing and how much more dignified he looks than from the man on his right. We will write a custom essay sample on Analysis of the French Ambassadors or any similar topic only for you Order Now The landowner has a fancy coat lined with some sort of fur. He has on some jewelry, a necklace, hanging from his neck. In his right hand he seems to be holding some kind of instrument showing he is an educated man. His face is rendered with more realism than his peer on the right. He also seems to be bit more lively in spirit. The landowner is leaning upon a table that is loaded with many other instruments for collecting data. These tools are symbols that these two men aren’t your ordinary common folk, they are more like scholars and have curiosities about many different things in life as what was a main theme of the Renaissance. The globes on the tables indicate an interest in astronomy and geology. It could also be a reference to Nicholas Copernicus a Renaissance astronomer who was the first to theorize that the earth wasn’t the center of the universe. Other instruments on the table indicate interests in mathematics, as there seems to be some cube object with numbers and angles maybe referring to geometry. Also on the table there is a mandolin signifying that not only are these two just purely scholars, but lively entertaining people or culturally diverse people. Another object on the table has to be the open books, which seem to be journals or diaries of some sort because of how there is a feather pen marking a spot in one. On the table there is a mantle but to me it looks more than just a decorative pattern for protection of a table but a tapestry of some sort. Above and behind the men and the table is a green patterned curtain. The drapery on the curtain causes your eyes to flow downward upon to the men and the table. The man on the right is dressed in black robes, clothing of a clergyman with a pair of gloves in his hand. If the clothes aren’t enough, he also has the white collar that all Catholic members of the church wear. The lighting in this painting is coming from the left as you can tell from how the landowner’s face seems to be more brightly lit than the clergyman’s. also you can tell by how on the clergyman’s side the painting gets gradually darker. One important thing about this painting is also the face of the gentlemen. In a way it seems as if two different artists of different caliber painted the faces. The landowners face looks loquent and beautiful, while the clergyman’s face looks simple and without much enthusiasm. The biggest concept of this image has to be the grayish line of some sort running through the ground. This object is an anamorphic image and the most interesting part of this painting. An anamorphic image is a distorted image that is only viewable from a certain angle or through a mirror. When looking at the painting from a lower angle and tilting your head towards the left you see an image of a skull. This skull is a symbol that can mean two different things. One is the study of sciences of the human body as there is no evidence of studying the human body is shown on the table that is supposed to represent education. The skull shows that the ponderings of the science of the human body bring these two men together. Another explanation for the symbol of the skull is to remind the viewer that even with all these great advancements and breakthroughs that man is still mortal and eventually one will die. The theme at first that I got was that men of the renaissance were greatly interested in the fine arts and education. Once looking at the painting more in depth and various times I see that that is just scratching the surface. The theme for this painting is how even though the Church and Landowners/nobility and wealthy were of such different social classes and distinctions, and even though they had many differences, they were brought together by their thirst for knowledge about everything they could imagine of. This theme comes through how the two men are leaning on the table full of symbols of education and higher learning showing their interests in it. How to cite Analysis of the French Ambassadors, Essay examples

A Seperate Piece Essay Research Paper A free essay sample

A Seperate Piece Essay, Research Paper A Separate Peace In his book A Separate Peace John Knowles communicates what war truly is. He uses a figure of complex characters in a really complicated secret plan in order to convey the harsh, sad, barbarous, destructive forces of war. The Characters Gene and Finny are used as opposing forces in a battle between that cold world of war-that is World War II in this story-and a separate peace. A peace off from the existent war and all of the awful things that come with it. Through their relationship, that is a battle on both sides form the beginning, Knowles establishes the world of war in all of its kernel. Gene Forrester is established as the force of world which is the war. This thought is established clearly in a drawn-out address Gene gives as the storyteller of the narrative in Chapter Three: Everyone has a minute in history which belongs peculiarly to him. It is the minute when his emotions achieve their most powerful sway over him, and subsequently when you say to this individual # 8220 ; the universe today # 8221 ; or # 8220 ; life # 8221 ; or # 8220 ; world # 8221 ; he will presume that you mean this minute, even if it is 50 old ages by. The universe, through his unleashed emotions, imprinted itself upon him, and he carries the cast of that passing minute everlastingly. ( 32 ) This statement explains that Gene must hold something that is his # 8220 ; stamp. # 8221 ; This cast appears to specify an individual-exemplifying what he stands for. It is found that this is true in the following paragraph where Gene continues, # 8220 ; For me, this moment-four old ages is a minute in history-war the war. The war was and is world for me. I still live and think in its ambiance # 8221 ; ( 32 ) . Later in the same paragraph he goes on to state: America is non, neer has been, and neer will be what the vocals and poems call it, a land of plentifulness. Nylon, meat, gasolene, and steel are rare. There are excessively many occupations and non adequate workers. Money is really easy to gain but instead difficult to pass, because there isn # 8217 ; T really much to purchase. . .The war will ever be fought really far off from America and it will neer terminal. Nothing in America bases still for really long, including the people, who are ever either go forthing or on leave. ( 32 ) This is what Gene stands for in the narrative of A Separate Peace. Gene appears to omnisciently understand the world of war and how it effects people. Throughout the full narrative Gene is used to convey in the destructive world of war into the mundane life at Devon High School where there is an effort to make, and exist in, a separate peace. There is nevertheless rather an resistance to this reality-known by Gene-that is headed by Gene # 8217 ; s best friend Finny. Finny has his ain # 8220 ; reality. # 8221 ; Finny displays this world throughout the whole book merely as Gene acts throughout the whole book. From the position of the storyteller, Gene, Finny # 8217 ; s universe is one where there are a batch of things that Finny does to seek and replace for the existent war. This universe or # 8220 ; world # 8221 ; that Finny creates and exists in is the separate peace spoken of earlier. Finny foremost begins to make this separate peace with games. Because Finny can # 8217 ; T face the world of the existent war these games are representative of the war. Finny makes the regulations so that he can be in these games as a force that is never-say-die. The first game Finny invents is # 8220 ; The Super Suicide Society of the Summer Session. # 8221 ; This game consists of jumping of the limb of a tree into the river by Devon High School. As the game is invented both Finny and Gene agree to acquire it started they must leap out of the tree and in to the river foremost. Finny allows Gene to leap foremost. This is where there is a foreshadow of the autumn from the separate peace: We were standing on a limb, I a little farther out than Finny. I turned to state something else, some procrastinating comment, something to detain even a few seconds more, and so I realized that in turning I had begun to lose my balance. There was a minute of entire, impersonal terror, and so Finny # 8217 ; s manus shot out and catch my arm, and with my balance restored, the terror instantly disappeared. ( 24 ) In this case Finny is able to salvage Gene from falling out of his universe into Gene # 8217 ; s # 8220 ; reality. # 8221 ; The thought of Gene understanding that this is truly Finny # 8217 ; s universe comes at the beginning of Chapter Three, # 8220 ; Yes, he had practically saved my life. He had besides practically lost it for me. I wouldn # 8217 ; Ts have been on that darn limb except for him. # 8221 ; Here Gene knows that his traveling into Finny # 8217 ; s world could hold wholly taken his world or life off. This game appears to be a replacement for the existent war more and more as Chapter Three advancements. Gene goes on to explicate how he and Finny signed up # 8220 ; trainees # 8221 ; on the topographic point and how they initiated them every dark ( 25 ) . This clearly resembles the basic preparation and initiating of existent soldiers in the war. Finny besides creates another game that substitutes for the existent war: Blitzball. It is known that this game is related to the war because a boy nowadays during the innovation of the game, Bobby Zane, remarks, # 8220 ; Let # 8217 ; s make it hold something to make with the war. # 8221 ; Finny likes this thought and goes with it. He goes on to do up all sorts of regulations. After all of the parts of the game are invented Gene realizes that, # 8220 ; He had unconsciously invented a game which brought his ain athletic gifts to their highest pitch. # 8221 ; What may be even a more of import statement is what Gene says following the last statement # 8221 ; The odds were enormously against the ball bearer, so that Phineas was driven to exceed himself practically every twenty-four hours when he carried the ball. To get away the wolf battalion which all the other participants became he created contraries and misrepresentations and Acts of the Apostless of sheer mass mesmerism which were so extraordinary that they surprised even him. ( 31 ) Finny made up this athletics and he made it so that he could be in control. This is merely like Finny # 8217 ; s universe of separate peace. Finny continues to touch Gene # 8217 ; s world that is the existent war in much the same manner he does in the games he invents. He continues with this subject by truly neer acquiring in problem. He ever has come capturing manner to do up his ain regulations that he can stay by while disobeying the existent regulations. In making this no 1 seems to keep Finny responsible-they neer truly do him abide by the existent regulations. In Chapter Two Finny wears a pink shirt which he explains is an emblem for the bombardment of Central Europe ( 18 ) . He explains that because he has no flag to wing for them-or anything else related-he will have on the pink shirt. Finny avoids holding to conform to the existent regulations in school that twenty-four hours when Mr. Patch-Withers asks Finny about it-surly because he usually disapproves of such rebellious behaviour. Finny once more explains what he explained to Gene and avoids any problem. Gene remarks, # 8220 ; It was mesmerism. I was get downing to see that Phineas could acquire away with anything. # 8221 ; Further grounds of Finny # 8217 ; s ability to do his world-or separate peace-comes on the undermentioned page. Mr. Patch-Withers offers the # 8220 ; traditional term tea to the Upper Middle Class # 8221 ; ( 18 ) . While at this event Finny explains all of his ideas about the bombardment of cardinal Europe. While making so he poses a inquiry to others, # 8220 ; I think we ought to bomb the daytimes out of them, every bit long as we Don # 8217 ; t hit any adult females or kids or old people, don # 8217 ; t you? # 8221 ; He continues, # 8220 ; Or infirmaries. . .And Naturally no schools. Or churches. # 8221 ; An statement over whether such a effort could be accomplished on the physical degree ensues, but what is truly of import is that Finny says this when it truly is non really plausible-and remains rather implausible up until the late 1980s. Finny doesn # 8217 ; t to the full understand the impact of war on people-he doesn # 8217 ; t understand that war kills people physically and mentally and he doesn # 8217 ; t understand that it effects everyone that has a close relationship with the it ( non including himself ) . It effects adult females, kids, old people, infirmaries, churches and schools. Finny has created a false world here and it is emphasized even more on the following page when he says he believes that, # 8220 ; the school is involved in everything that happens in the war, it # 8217 ; s all the same was and the same universe # 8221 ; ( 20 ) . The truth is that the war is partly involved in the war, but non the manner Finny believes it is. Finny has created a separate peace at Devon that he substitutes for the existent war. Meanwhile, Gene understands that the land that the war is being fought on is, # 8220 ; All foreign lands. . .inaccessible except to military mans ; they are obscure, distant, and sealed off as though behind a drape of plastic. # 8221 ; This transition shows us that although Gene may non hold fought in the war and had first manus experiences of the awful devastation of it, he lt ;< p>has perchance the best apprehension he can without being in the war and he appreciates the war for what it is. This is unlike Finny who creates his ain war within Devon-which is truly a separate peace because of its deficiency of the existent features of the existent war. There is turning point in the book at which all of this creative activity of a separate peace that is non the existent war Michigans and the world that Gene knows-the one that is real-begins to go more clear. A really of import event occurs in Chapter Four. One eventide as Gene is analyzing for an test, Finny announces that Leper is traveling to take his first spring from the tree. This requires the attending of Gene. When the male childs get to the tree to leap Finny suggests that he and Gene jump side by side. This is the first clip that we get to see the symbolism of puting Gene # 8217 ; s world next to Finny # 8217 ; s world to compare the two. While on the limb, someway, Gene # 8220 ; jounced the limb # 8221 ; ( 52 ) . Finny fell to the difficult shore violently and # 8220 ; shattered # 8221 ; on of his legs while Gene jumps # 8220 ; with unthinking sureness. # 8221 ; Here we see that when the two worlds are compared side by side Finny # 8217 ; s falls and shatters. Subsequently in that same chapter Gene puts on Finny # 8217 ; s apparels and looks in the mirror to see that he appears to be merely like Finny ( 54 ) . In making this he understands how each of them are fighting to recognize the right world. Finny sees his world and Gene sees his ain but together they are still really similar even though their thoughts about world are different. The chapter continues with Dr. Stanpole uncovering to Gene that, # 8220 ; athleticss are finished # 8221 ; for Finny. This takes off Finny # 8217 ; s manner to make his separate peace. Finny is non present for the beginning of the autumn session at Devon and as a consequence Chapter Six begins with the statement, # 8220 ; Peace had deserted Devon # 8221 ; ( 64 ) . This indicates the deficiency of peace, the peace that the school had come to cognize when Finny was present-a separate peace. With the deficiency of this peace the door is unfastened for the world that is war to enter. Throughout Chapter Six we begin to see more and more of the existent war to ooze into Devon. We find that, # 8220 ; Five of the younger instructors were losing, gone into the war. Mr. Expressway had come in his Naval ensign # 8217 ; s uniform. . . # 8221 ; With all of this go oning Finny is non traveling to give up his world without a battle. Finny finds out that Gene had signed up as an helper to a squad and informs Gene that # 8220 ; if I can # 8217 ; t play athleticss, you # 8217 ; re traveling to play them for me # 8221 ; ( 77 ) . Gene doesn # 8217 ; T put up any statement to this thought because of his deep friendly relationship with Finny. The fact that he has hurt Finny a batch late likely besides has something to make with his deficiency of statement. After all Finny still is his best friend and aching a best friend is difficult to make even when you know that, to uncover the truth, sometimes you have to. His old exchange is forgotten for a piece as school Begins. When it begins to snow two hundred male childs are recruited to assist shovel snow off of the railway paces in a near by town as portion of # 8220 ; the war attempt # 8221 ; ( 88 ) . This is merely the beginning of the war # 8217 ; s ooze into life at Devon. Later in that same chapter we find the war is set uping the male childs even more where Brinker announces, # 8220 ; I # 8217 ; m giving it up, I # 8217 ; m traveling to enlist. Tomorrow. # 8221 ; In that same chapter Finny returns to Devon to Gene # 8217 ; s surprise. During their conversation in their room Finny finds out that there are no amahs this semester because of the war. Gene remarks on this, # 8220 ; After all, there is a war on # 8221 ; ( 96 ) . Finny # 8217 ; s intuiting response is, # 8220 ; Is there? # 8221 ; It is difficult to state if Finny is being sarcastic or intending something different than what is sounds like with this remark. One can, nevertheless, know that the fact that he said this is of import because it is in the book at all. With this in head it would do sense that this is a remark on Finny # 8217 ; s deficiency of understanding for the existent war that is happening. Later we find that Gene is believing approximately enlisted to function in the war but he decides no to because he doesn # 8217 ; t want to abandon his friend who he has hurt plenty already. With this in head Gene remarks, as the storyteller, # 8220 ; peace had come back to Devon. # 8221 ; This indicates that Finny # 8217 ; s thoughts of the separate peace had returned and Finny attempts to set up them once more after being off so long. The beginning of Finny # 8217 ; s try to regenerate his separate peace takes topographic point when he tells Gene, # 8220 ; You # 8217 ; re traveling to be the large star now. # 8221 ; Gene is hesitating to take this on and goes on to explicate that athleticss didn # 8217 ; t seem as of import to him with the war on. Finny responds to this, # 8220 ; Have you swallowed all that war material. . . there isn # 8217 ; t any war. # 8221 ; This is the point at which Gene comes to recognize that Finny doesn # 8217 ; t believe there is a existent war traveling on. Finny goes on to do Gene make what he can no longer make: vie physically. He does this in order to maintain the thought of the separate peace alive. The thought of Finny non understanding the war is emphasized more when Finny tells Gene that he is traveling to develop him for the Olympics in 1944. Gene responds by stating Finny # 8220 ; there isn # 8217 ; t traveling to be any Olympic gamess in # 8216 ; 44. That # 8217 ; s merely a twosome old ages off. The war- # 8221 ; Finny # 8217 ; s response is, # 8220 ; Leave your fantasy life out of this. We # 8217 ; re preparing you for the Olympics, buddy, in 1944. # 8221 ; Finny openly defies the thought that there is a war traveling on and that it is set uping people around the universe. The 1944 Olympics do non happen. This is the beginning of the terminal for Finny # 8217 ; s separate peace and the events that follow conveying out the undeniable world of the war. It becomes of all time more evident as Leper enlists and the senior male childs are solicited during the winter months by members of the armed forces recruitment squads. Finny continues his deficiency of belief by acquiring involved with the Winter Carnival. Finny does this in an effort to show everyone the peace that he believes is existent. The terminal of Finny # 8217 ; s separate peace continues though when, during the Winter Carnival, he receives a wire. Gene takes the wire from Finny and reads it, it reads: I HAVE ESCAPED AND NEED HELP. I AM AT CHRISTMAS LOCATION. YOU UNDERSTAND. NO NEED TO RISK ADDRESS HERE. MY SAFETY DEPENDS ON YOU COMING AT ONCE. ( signed ) YOUR BEST Friend, ELWIN LEPER LEPELLIER. Gene goes to see Leper and finds he has changed. The first thing he notices is Leper # 8217 ; s left side of his lip raising involuntarily. Gene comes to happen that Gene abandoned the Army after recognizing that he was traveling to have a Section Eight any ways ( a Section Eight is a discharge because of a deficiency of psychological control ) . It is found that Leper does look to hold mental unwellness and has turned into a violent individual who is really angry-something that Leper decidedly wasn # 8217 ; T before he was in the war. Gene brings the intelligence of Leper # 8217 ; s state of affairs back to the school to put out the undeniable verification of the war. Leper has proven to us that there is a war and that it can kill the organic structure and spirit-it is destructive. The male childs finally come to keep a test with Gene to happen out the truth about the autumn that Finny took from the tree. We neer truly happen out if Gene jounced the limb on intent or if he believes he did-all of this is really equivocal. The most of import event during the meeting is Finny # 8217 ; s realisation though. As the male childs are reasoning to seek and happen the truth Finny says, # 8220 ; I merely wear # 8217 ; t attention. Never head # 8221 ; ( 169 ) . Brinker cries to Finny as he runs off, # 8220 ; Wait a minute! We haven # 8217 ; t heard everything yet. We haven # 8217 ; t got all the facts. # 8221 ; Gene narrates, # 8220 ; The words shocked Phineas into consciousness # 8221 ; ( 169 ) . Finny has become cognizant of the existent truth and runs to the stepss in the hallway and Gene narrates, # 8220 ; Then these separate sounds collided into the general uproar of his organic structure falling clumsily down the white marble steps # 8221 ; ( 169 ) . Finny # 8217 ; s separate peace has fallen-literally and figuratively. The operation that Finny must undergo is purportedly simple. The operation is simple but a complication occurs and Finny dies. With Finny dies his separate peace. With the force of Finny # 8217 ; s separate peace on Devon the war comes fully fledged into Devon in the individual of military personnels from Parachute Riggers # 8217 ; school, who take over the Far Common. Gene recognize this as he walks down the halls to hear the P.T. teachers voice shouting, # 8220 ; Hut! Hew! Hee! Hore! # 8221 ; Indeed Gene # 8217 ; s world is the truth: the war is really existent and really destructive. John Knowles communicates what war truly is. He uses complex characters in a really complicated secret plan in order to convey the harsh, sad, barbarous, destructive forces of war. Gene and Finny # 8217 ; s relationship that includes the resistance illustrates this fact. Their relationship is used by Knowles to set up the awful world of war in all of its kernel.

Isolation and Loneliness free essay sample

In The Brief Wondrous Life of Oscar Wao by Junot Diaz, isolation is a common theme that contributes to character development throughout the novel. Junot Diaz, in his narration of Oscar’s life through the eyes of Yunior, induces the idea that isolation is a self-imagined way for a character or person to justify his/her differences from society and the people around them. While there are outside forces that contribute to the feeling of isolation, such as cultural differences, immigration, and gender stereotypes and expectations; in the end, Diaz firmly believes that a person’s feeling of isolation is a crutch to reason why he/she does not fit in. Diaz believes that the feeling of isolation is a self-imagined feeling that helps a person justify why he/she is an outcast in society. In the novel, the theme of isolation is common throughout all the main characters; Oscar, Lola, and Beli. We will write a custom essay sample on Isolation and Loneliness or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page To start with, Oscar begins as a typical Dominican male. As a child, Oscar was considered â€Å"a Casanova† who was â€Å"a ‘normal’ Dominican boy raised in a ‘typical’ Dominican family† (11). Oscar eventually grows â€Å"fatter and fatter,† develops â€Å"zits,† and gets â€Å"self-conscious† because his â€Å"interest in â€Å"Genres bec[o]me[s] synonymous with being a loser † (16, 17). Because Oscar suddenly turns into an outcast, he blames his dorkiness and homely appearance for his lack of acceptance by the outside world. What Diaz underlines, though, is that Oscar has control over his life, but isolates himself by letting everyone elses opinions and judgements affect his actions and opinions of himself. Next, Lola believes she is isolated in that her mother has certain expectations of her to be the perfect Dominican daughter. Lola blames her mother for â€Å"mak[ing] [Lola] doubt [herself]† and believes that Beli is the reason Lola feels so isolated (56). However, Diaz claims that Lola’s feeling of isolation comes from within her. Lola claims that because of her mother’s actions and behavior, she feels the need for â€Å"change† and has a â€Å"wildness† within her (58). In fact, it is Lola’s need for change that drives her to be isolated, not Beli’s actions. Beli also self-imagines her isolation in society. She uses the fact that she started as late bloomer but eventually turned into a beautiful women to isolate herself from the people around her. Also, like Lola, Beli has a burning desire to escape from the clutches of the Dominican Republic and from the stereotypes that come with being a woman living in the DR. Beli blames people around her, like the Gangster and Trujillo, for her feelings of isolation and loneliness, when in fact her feelings are strictly in her head. However, outside forces definitely do fuel characters’ feelings of isolation and loneliness, such as cultural differences, immigration, and gender stereotypes and expectations. First, cultural differences contribute to Lola’s and Oscar’s feelings of isolation. Next, immigration contributes to Lola’s, Oscar’s, and Yunior’s feelings of isolation. Lastly, gender stereotypes and expectations contribute to Lola’s, Oscar’s, Yunior’s, and Beli’s feelings of isolation. While outside forces absolutely contribute to characters’ feelings of isolation and loneliness, Diaz, through Yunior’s narration, highlights that isolation is a self-imagined feeling as a way to reason why one does not fit into society and may be dubbed as an outsider or an outcast.

Alliteration

Alliteration Alliteration Alliteration By Simon Kewin A couple of previous Daily Writing Tips posts looked at when to use rhyme in poetry and also at the various types of rhyme available to the poet. Rhyme, however, is only one of the techniques employed in poetry to make its language special. Another basic one is alliteration. Alliteration is defined by the Compact Oxford Dictionary as : The occurrence of the same letter or sound at the beginning of adjacent or closely connected words. For example, these lines are from Samuel Taylor Coleridge’s The Rime of the Ancient Mariner : Water, water, everywhere, And all the boards did shrink; Water, water, everywhere, Nor any drop to drink. Here, the w sounds in the first and third lines alliterate, as do the d sounds of â€Å"drop† and â€Å"drink† in the fourth. Alliteration is just one technique employed by poets, who combine it as needed with rhyme, rhythm, imagery and so forth. It’s another way to give a poem structure, to mark out its language as special and musical. The ear will tend to pay special attention to alliterated syllables, and to hear a connection between them. It’s worth noting that in Old English or Anglo Saxon poetry, alliteration was the principal structural technique. There was no regular rhyme or rhythm – instead, poetry was (generally) written so that lines contained four stresses, the first three of which alliterated. There was no attempt to create end-rhymes or even to have lines of the same length. The following lines, for example, are from Beowulf (as translated by Seamus Heaney) : There was Shield Sheafson, scourge of many tribes, A wrecker of mead-benches, rampaging among foes. In the first line, three sh and s sounds are stressed and (loosely) alliterate (Shield/Sheafson/scourge). In the second line, it’s the m sounds (mead/rampaging/among). Two other related techniques to be aware of in relation to alliteration are assonance and consonance. Assonance is similar to alliteration except that it refers to repeated vowel-sounds rather than repeated consonant-sounds. For example, there is the repeated ur sound in this line from Edgar Allan Poe’s The Raven : And the silken sad uncertain rustling of each purple curtain Consonance, finally, is very similar to alliteration. Strictly speaking, repeated consonant-sounds at the start of words are alliteration, and repeated consonant-sounds in the middle of words are consonance. Thus in the line â€Å"Water, water, everywhere†, Coleridge has used both alliteration and consonance. The next in this series of poetry-related posts, meanwhile, will look at metre. Stay tuned. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:Dialogue Dos and Don'ts"Certified" and "Certificated"1,462 Basic Plot Types

American Rennassance

How do the differences affect the mood of each piece? Answer: The poems â€Å"The Snow Storm† and â€Å"It Sifts from Leaden Sieves† are alike because they are both describing snow falling and the things the snow covers and how it covers it. The poems are different because Emerson never actually mentions snow but the way he words his poem you know exactly what he’s talking about. Emily Dickenson directly mentions snow so you know right from the start what she is talking about. (20 points) |Score | | | 2. Choose a poem from Whitman, and explain how it reveals Romantic thinking. Cite examples from the poem as your support. Answer: I chose â€Å"To a Stranger† by Whitman. It reveals romantic thinking because he writes, â€Å"you must be he I was seeking, or she I was seeking, (it comes to me as of a dream,). † He describes this like he was looking to find someone he had seen in a dream before. â€Å"I have somewhere surely lived a life of joy with you†, he says. Its sort of like he is describing a deja vu. Like he feels like he had live a life of joy and happiness with a person but is not really sure of it. 20 points) |Score | | | 3. Reread this quotation from near the end of â€Å"Walden Pond†: Many a forenoon have I stolen away, preferring to spend thus the most valued part of the day; for I was rich, if not in money, in sunny hours and summer days, and spent them lavishly; nor do I regret that I did not waste more of them in the workshop or the teacher’s desk. Explain this quotation. Be sure to address the â€Å"wealth† Thoreau claims, his use of that wealth, and his views of the workshop or school Answer: Basically Thoreau is saying that leisure time is a kind of wealth, something that may ultimately be more valuable than money and the material things it might buy. So he doesnt regret the time he played hooky in the middle of the day the most valued part of the day and skipped out of work or other responsible duties, because, although doing so might have prevented him from becoming richer in material goods, hes stored up a lot of experiences that he prizes higher.

PET HOUSE Coursework Example | Topics and Well Written Essays - 2750 words

PET HOUSE - Coursework Example This report aims at conducting an analysis of Mungo and Maud with respect to its mission, vision and team structure, along with other factors that may impose considerable effects on its adopted process of New Product Development (NPD). The report also presents a reflection upon the structure, performance, innovation and creativity of Mungo and Maud during the process of NPD with due significance towards the benchmarking techniques used by the company. Vision is a statement about what or how a team would like the things to be. It can be regarded as a brief picture of future possibilities and attainments that the team shall be striving to create in due course of time (Grusenmeyer, 2014). Correspondingly, the vision considered developing the NPD process of Mungo and Maud, and accordingly for the team will be concentrated on preserving the uniqueness of the company and its brand image among the worldwide customers that are suitable for the pets’ comfort. Hence, three key elements will be considered as important in the vision of the team, i.e. uniqueness, quality and availability. A mission statement, in general, can be defined as the strategic direction to achieve the determined goals with proper usage of the available resources, in combination with the pre-defined vision of the team and the organisation (Grusenmeyer, 2014). Accordingly, in the context of Mungo and Maud, the mission of the team will be to ensure that the customers are served with superior quality of products, which are diversified in various market segments and product lines including human clothing and stationeries, pet products and gift items for humans and pets. Moreover, the team will also strive to offer its products in a quality assured by reasonable price to satisfy customer affordability. Team structure is referred as the group of professionals with various

The level of competition in pricing and output decisions under an Essay

The level of competition in pricing and output decisions under an oligopolistic market structure - Essay Example There was much experimentation with forms of business structures until the pattern of oligopoly finally evolved. In the United States, during the last quarter of the 19th century, businesses avoided competition by forming trusts. Under this structure, the leading firm in one industry would hold voting stock in its former competitors. Output could be limited and prices kept high. In many parts of Europe, cartels were legal. Firms in the same line of business would enter into a formal and enforceable agreement to limit production, and maintain high prices. But both agreements; trusts and cartels brought business stability and profits at the cost of high consumer prices, limited new investment (in order to limit production of products) and a diminution of the type of competition that drives firms to develop new products and new production processes. However, many modern markets are oligopolistic. The growth of oligopoly poses problems both for economic theory and policy because only a handful of large firms produce most of the output in these industries. An oligopoly market exhibits many sellers but is concentrated on only a few sellers. Market shares matter because these few firms control majority of the entire market with some assistance from new technologies. Institutionalists claim that the structure of oligopoly leads to a form of administered pricing.

Love, Death and the Changing of the Seasons Essay Example for Free

Love, Death and the Changing of the Seasons Essay The majority of poems and sonnets we have read, starting back from the first sonnet to today’s modern writers. They can be said to describe as a moment’s monument. As they describe a time of hurt, happiness or a memory in that was once enjoyed that has been put into words. I am going to discuss the meaning behind, what a moment’s monument is. I am also going to find out between two sonnets, The Forge and Love deaths and the changing of the season. Weather they answer the question â€Å"the sonnet has been described as a moment’s monument’. What is the meaning of a moment, it can mean so many things. Mainly it is described as a setting to a time in someone’s life. A moment in time that has been remembered, it could be happy, sad moment or an event that you have remember such a wedding day. Putting it into a sonnet, it can be a moment of a lost one someone is explaining. A monument is a statue, gravestone or a piece of history that can act as a record or memory for someone. For an example a gravestone is a record of a person’s death and the time they spent alive, it’s their record for people who loved them and also a way of saying â€Å"I was here. The sonnet Love deaths and the changing of the season by Marilyn Hacker can be described as a moment’s monument. The speaker of the sonnet is speaking about herself and about a moment in her life. The moment in her life that she is talking about is her loss of a lover. She is explaining the pain she has to face with letting go. The monument is the record of the tears she cried over her loss of this lover who was once there with her. This is shown in line thirteen and fourteen when she says â€Å"I drank our one year out in brine instead of honey. These lines mean she is describing the one year as drinking brine which is salt water which would cause dehydration and then sickness and eventually death, she has nothing left. When she compares brine to honey it is showing us, her life has gone from something sweet like honey, to something bitter like brine. The monument which can also be linked in this sonnet is that the death of the lover, will give them a gravestone as the record. The structure of the sonnet consists of fourteen line . The rhyme pattern can be debated of being either an Italian sonnet which the pattern the lines are divided into eight and six or English/Shakespearean which consists of the lines of three quatrains and two couplets. If it is an Italian version sonnet can be broken down the first eight lines. The first eight lines are her explaining her wanting him back. Then lines nine to fourteen is her accepting his gone and letting him go. If it is an English version sonnet it can be read as line one to four is her pain. Line five to eight is he realizing his not coming back and line nine to fourteen is her bitterness of crying over her loss. Hacker’s sonnet also allows the reader to get a language image. Some examples of this is, when she says â€Å"flood gates. † This is meaning that she is opening up her heart and letting the grief pouring out. She also says of a â€Å"gift† he left her behind, which is her way of saying bitterly he has left her with nothing but tears. Another language image is â€Å"season,† also mentioned as part of the title and mentioned in the sonnet. This can be used as she also mentions in the sonnet â€Å"winter,† which is a cold and comfortless and empty season, meaning this is how she feels with only have memories now. The metre of the poem is the standard iambic pentameter, but it is used to a good strong effect for the read as it emphasizes the main words such as in line three â€Å"stomach ache, headache and heartache, which is a good effect. As is emphasizes on the main word ache, which is another word for pain. The sonnet The Forge by Seamus Heaney can be described as a moment’s monument. The speaker in the sonnet is speaking from observation, watching the Black smith it could be someone who regularly passes by or an apprentice working with the blacksmith. The moment in time which the person watching is describing is the Blacksmith in the Forge and his every day routine of making horse shoes. This is shown in line nine when it is said â€Å"where he expends himself in shape and music†, we know this as he references to the guy as ‘he’ not ‘I’. The monument within this sonnet could also be considered a moment the lines twelve and thirteen shows a good example when it says â€Å"recalls a clatter of hoofs where traffic is flashing in rows. Demonstrating it’s a memory that a moment in time that he recorded of when the streets where once surrounded with horse and remembering the sound of their shoes clattering on the roads, but now it is taken over by car and traffic lights. The structure of the sonnet is a fourteen line sonnet. The rhyme pattern of this sonnet is an Italian sonnet. The Italian sonnets are in the pattern of lines that are divided into eight and six. It can be put lines one to eight is the person watching the daily routine completed by the Blacksmith and him going about his everyday activities. Then line nine to fourteen is the person watching the Blacksmith reminisce on the past and then getting upset and returning to his work. The poem is the normal iambic pentameter, but it is used responsively, for a good outcome. For example in the very first line we already get words like dark, which is a powerful word on its own Both The Forge and Love, Death and the changing of the seasons are sonnets that are a moment’s monument. The both describe a moment in time. Weather it is a loss of a lover or a working day. They both describe a monument a memory, traffic replacing horses or the way he use to take her in his arms.

Part II of Sir Gawain :: Sir Gawain Essays

Text: Part II In this passage of the story.......We find that Sir Gawain is feeling very melancholy and distraught over the events that have shaped the last year of his life. It is the Christmas season, and while most of his comrades at King Arthur's Court are enjoying the warm fires of their castles, he is trudging through the cold mud and muck of an uninviting wilderness. At the end of his journey he ultimately expects to meet certain death at the hands of the immortal Green Knight, and so alone except for his loyal horse Gringolet, Gawain in his hour of need turns to God for divine intervention:Click Here to Hear Gawain "He said his prayer with signs, Lamenting his misdeed; he crosses himself, and cries On Christ in his great need." No sooner has he made the sign of the cross to conclude his petition then before him appears the most wondrous sight. A great castle looms up where a moment before there were only stark mountains and dark mysterious woods. Gawain has never seen such a magnificent structure. In the center of a park more than two miles wide it stood, constructed of stone blocks that shimmered amid bright colored leaves that should not have been in bloom at that time of the year. There was a double moat surrounding immense battlements which had been fortified to withstand an assault from even the fiercest of invaders. Yet with all the barbicans of war there were also delicate spires rising in tiers amid elaborately ornamented gables. So perfect was the image of this estate that it reminded Gawain of "A castle cut for a king's feast". He thanks God and St. Julian the patron saint of hospitality for his redemption from solitude, and approaches the castle over a strange bridge which hangs in the air. On the far side he is met by the most polite of porters. Humbly Gawain asks permission to enter the grounds in order to seek the lord of the castle’s hospitality.

Motivate or influence behavior Essay

Communication is defined by the text as the process by which information is exchanged and understood by two or more people, usually with the intent to motivate or influence behavior. ____ is necessary for communication to be considered two-way. Feedback Which of the following, in the communication process, has the responsibility to decode the symbols and interpret the meaning of the message? Receiver ____ and ____ are potential sources for communication errors, because knowledge, attitudes, and background act as filters. Decoding, encoding Channel richness refers to the amount of information that can be transmitted during a communication episode. Which communication channel would be most successful to inform managers of impending company-wide layoff? Face-to-face contact When an electronic mail system is installed as part of the communication system, what element of the communication process is changed? Channel ____ does not focus on a single receiver, uses limited information cues, and does not permit feedback. Bulletins Compared to men, women tend to use their unique conversational style to show involvement. Which of the following is the most familiar and obvious flow of formal communication? Downward communication ____ refers to messages designed to motivate employees to adopt the company’s mission and cultural values and to participate in special ceremonies. Indoctrination Many organizations use suggestion boxes, open door policies, and surveys to facilitate centralized Which of the following links employees in all directions, ranging from the president through middle management, support staff, and line employees? The grapevine What percent of the details passed through a grapevine is accurate? 70 to 90 percent According to the text, all of the following are ways managers can improve their writing skills EXCEPT: Write lengthy explanations One of the most important things that a manager can do for the organization, according to the text, is to create a climate of trust and openness. Managers’ communication is _______-directed, in that it directs everyone’s attention toward the vision, values, and desired goals of the team or organization and influences people to act in a way to achieve the goals. purpose Which of the following is the best advice for written communication that is highly important? Get a second opinion To be effective communicators, managers should: Encourage the use of multiple channels of communication

Intermediate certificate in Human Resource Management Essay

Is the criticism of HR in the article justified? Yes and no! The quote in the article from Dona Roche-Tarry is fairly damning. She states the HR team should be equally responsible as they work alongside the CEO and MDs to recommend strategies for pay and bonuses. Whilst HR may work alongside the senior decision makers, they can only make recommendations. The ultimate decision and power lies with the CEO. However, another perspective could be that HR need to be influencers, and should be more efficient at managing upwards. What are the main accusations being laid at the door of HR in this scenario in terms of its competence? Not being responsive Lack of knowledge Being unethical What are the implications for HR here in relation to professional ethics, integrity and confidentiality? The main implication is being seen to be unethical to stakeholders. This could result in HR being seen as not communicating and could have a negative impact on how people perceive HR to be importance wise. Integrity is also damaged by not being seen to have provided a voice in relation to political equality. How might HR been able to influence the situation more? By managing relationships better across hierarchies, and also by forward planning, being market savvy, and risk management. Predicting the issues  before they arose and either finding ways to avoid them or developing damage limitation scenarios and plans. What other key behaviours from the CIPD’s HR professional map do you think are critical here for HR to display? Skilled influencer Courage to challenge Personally credible Collaborative What learning can HR take away from this experience/situation? The main learning is to be more responsive, and take more of an active role in discussions regarding important issues such as renumeration Being seen to consult stakeholders and provide senior stakeholders with a more accurate company and market view. Improved communication across all levels needs to be implemented.

The 5 Principles of Adult Learning Pioneered by Malcolm Knowles

The 5 Principles of Adult Learning Pioneered by Malcolm Knowles The teacher of adults has a different job from the one who teaches children. If youre teaching adult students, for the best results its important to understand and practice five principles espoused by Malcolm Knowles, a pioneer in the study of adult learning. He observed that adults learn best when: They understand why something is important to know or do.They have the freedom to learn in their own way.Learning is experiential.The time is right for them to learn.The process is positive and encouraging. Make Sure Your Adult Students Understand â€Å"Why† Most adult students are in your classroom because they want to be. Some of them are there because they have continuing education requirements to keep a certificate current, but most are there because they’ve chosen to learn something new. This principle is not about why your students are in your classroom, but about why each thing you teach them is an important part of the learning. For example, imagine you are teaching a group how to make pickles. It would be important for students to understand why each step in the pickle-making process is important: It’s important to soak the cucumbers in ice water overnight. This helps make the pickles crisp.If you put a towel under the jars in the canner, they won’t bounce against each other and break.When sterilizing the jars, it’s important to fill each at least halfway with water, AND fill the canner they’re sitting in with water. Too little water and the towel mentioned in the previous bullet will catch on fire. You know this kind of information comes from experience. Respect that Your Students Have Different Learning Styles There are three general learning styles: visual, auditory, and kinesthetic. Visual learners rely on pictures. They love graphs, diagrams, and illustrations. â€Å"Show me,† is their motto. They often sit in the front of the classroom to avoid visual obstructions and to watch you, the teacher. They want to know what the subject looks like. You can best communicate with them by providing handouts, writing on the whiteboard, and using phrases like, â€Å"Do you see how this works?†Auditory learners listen carefully to all sounds associated with the learning. â€Å"Tell me,† is their motto. They will pay close attention to the sound of your voice and all of its subtle messages, and they will actively participate in discussions. You can best communicate with them by speaking clearly, asking questions, and using phrases like, â€Å"How does that sound to you?†Tactile or kinesthetic learners need to physically do something to understand it. Their motto is â€Å"Let me do it.† They trust their feelings and emotions about what theyà ¢â‚¬â„¢re learning and how you’re teaching it. They want to actually touch what they’re learning. They are the ones who will get up and help you with role-playing. You can best communicate with them by involving volunteers, allowing them to practice what they’re learning, and using phrases like, â€Å"How do you feel about that?† Most people use all three styles while they’re learning, and of course, this is logical since we all have five senses, barring any disabilities, but one style almost always is preferred. The big question is, â€Å"How do you, as the teacher, know which student has which learning style?† Without training in neuro-linguistics, it might be difficult, but conducting a short learning style assessment at the beginning of your class would benefit you and the students. This information is as valuable to the student as it is to you. There are several learning style assessments available online, some better than others. A good choice is the one at Ageless Learner. Allow Your Students to Experience What They’re Learning Experience can take many forms. Any activity that gets your students involved makes the learning experiential. This includes small group discussions, experiments, role playing, skits, building something at their table or desk, writing or drawing something specific – activity of any kind. Activities also keep people energized, especially activities that involve getting up and moving about. The other aspect of this principle is honoring the life experiences your students bring to the classroom. Be sure to tap into that wealth of wisdom whenever it’s appropriate. You’ll have to be a good timekeeper because people can talk for hours when asked for personal experiences, but the extra facilitation needed will be well worth the gems your students have to share. When the Student Is Ready, the Teacher Appears â€Å"When the student is ready, the teacher appears† is a Buddhist proverb packed with wisdom. No matter how hard a teacher tries, if the student isn’t ready to learn, chances are good he or she won’t. What does this mean for you as a teacher of adults? Luckily, your students are in your classroom because they want to be. They’ve already determined that the time is right. It’s your job to listen carefully for teaching moments and take advantage of them. When a student says or does something that triggers a topic on your agenda, be flexible and teach it right then. If that would wreak havoc on your schedule, which is often the case, teach a bit about it rather than saying flat out that they’ll have to wait until later in the program. By then, you may have lost their interest. Principle 5: Encourage Your Adult Students For most adults, being out of the classroom for even a few years can make going back to school intimidating. If they haven’t taken a class in decades, it’s understandable that they would have some degree of apprehension about what it will be like and how well they’ll do. It can be tough to be a rookie when you’ve been an expert in your field for many, many years. Nobody enjoys feeling foolish. Your job as a teacher of adult students includes being positive and encouraging. Patience helps too. Give your older students time to respond when you ask a question. They may need a few moments to consider their answer. Recognize the contributions they make, even when small. Give them words of encouragement whenever the opportunity arises. Most adults will rise to your expectations if you’re clear about them. A word of caution here. Being positive and encouraging is not the same as being condescending. Always remember that your students are adults. Speaking to them in the tone of voice you might use with a child is offensive, and the damage can be very difficult to overcome. Genuine encouragement from one person to another, regardless of age, is a wonderful point of human interaction. This is your challenge as a teacher of adults. Beyond teaching your subject, you have the opportunity to inspire confidence and passion in another human being. That kind of teaching changes lives.

How do you evaluate the economics discourse of sustainability Essay

How do you evaluate the economics discourse of sustainability - Essay Example Unfortunately many debates and studies about the measurement of sustainability do not define, or even derive a common understanding, about what is to be measured. Nonetheless, the context of sustainability cannot be separated from its measurement. In simple words, experts argue that there is need to consider economic, environmental and social indicators to measure sustainability. For example, economic indicators are income level in society, inflation, unemployment, exports / imports statistics, GDP, FDI, Public and Foreign Debt etc. Social indicators may include Suicide rates, people living below poverty line, difference between rich & poor, rate of urbanization, spread of diseases, mortality rates, educational and health spending etc. Environmental factors include carbon emissions and pollution. Together, the evaluation of these aforementioned indicators helps determining the level of sustainability in a particular nation or society. It should be pinpointed that economists, statisticians and business professionals have developed various quantitative models and tools to estimate economic betterment and real growth rates. Nevertheless, the nominal growth is not considered as true representation of economic sustainability, growth and expansion. Some of the best examples of quantitative methods for measuring sustainability include Liverman and Sustainable Seattle (that ranges from the simple to complex), Index of Sustainable Economic Welfare (ISEW), Genuine Progress Indicator (GPI), Moody’s Credit Rating etc. Economists, indeed, claim that a country’s reliance and use of local resources for domestic production (without any violation of environment and business laws) and need fulfillment of local + foreign consumers leads to accumulation of wealth and sustainability in that country. In addition, it reduces dependence on foreign countries, donor agencies and international community, which later enhances its political and economic power, reputation and

A Comparison Of Clinique Marketing Strategy Case Study

A Comparison Of Clinique Marketing Strategy - Case Study Example These three items were said to be the only products necessary for healthy skin. The parent company, Este Lauder, had already established itself as an icon in beauty and fragrance (Xenias), and over the years Clinique developed a positive brand image as well. In addition to the simplicity of their image, the company's Web site was equally simple-illustrations of products with very little or no text. But with businesses expansion taking place in order to reach global markets, the simplicity of Clinique's marketing strategy might not have the same effect in countries other than UK and USA. Purpose of Study China is the market of the future, and successful companies expanding their bases throughout the world see China as a necessary market. What are the differences in the way Clinique reaches domestic customers and customers in other cultures Will the 1-2-3 plan work in China What barriers must be faced Two recent articles included Clinique in a list of cosmetic companies accused of using harmful chemicals in their products in China (China Monitoring 2006; Overseas Companies 2006). At present the international Clinique Web site doesn't seem to offer a simple doorway into other countries, at least for researchers. Clinique does, as a way to reach Chinese customers, discuss a product called Clinique Derma White which focuses on Asian markets. Derma White is an update on Clinique's Active White line, developed by Korean dermatologists to address pigmentation in the skin. Derma White uses blackout yeast to break up pigment into smaller fragments and exfoliants help remove them from the skin (Clinique 2006). The Asian culture considers white skin to be beautiful, while Western countries and cultures seem to prefer tanning products. The emphasis on darker skin... The importance is in drawing customers to a specific site. With Clinique, marketing strengths include introducing new, innovative products directed at specific customers and the use of language in the product names which immediately describe their attributes, i.e. Superdefense Triple Action Moisturiser and Lifting Face Serum as well as Dramatically Different Moisturising Lotion, a standard of the company since its inception. A weakness, however, could be the company's apparent belief in a customer knowing who they are, what they do and how they do it. They are taking for granted that their products will sell themselves. Clinique has not even begun to tap the opportunities to sell their products through the Internet. Much of the research information on skin care is filtered through the Està ©e Lauder advertising and press releases. It is also important for them to be aware of negative commentary online which might affect their market share if they don't meet the challenge of offsetti ng negativity. At present one of the major efforts by Clinique is to increase the male customer base, and much of their advertising focus on that market. In the meantime, the female market might be discouraged when trying to get information on the products they want, especially in China, where women are not considered worth cultivating but are beginning to see themselves in a more attractive light. Another important market for Clinique is the aging population looking for anti-ageing products such as "Stop Signs" said to "make time stand still".

Proliferation of Social Media Research Paper Example | Topics and Well Written Essays - 250 words

Proliferation of Social Media - Research Paper Example This is understandable since most of the worlds population turn to content from social media, such as friend recommendations, consumer reports, and the like, before making what they consider to be important decisions in their lives. People now have an accurate point of comparison and discussion. Therefore, it now behooves the leaders to tell the truth in all their reports, statements, and recommendations. Leaders have also been given a definite advantage by the social media connection that they can no create with their supporters and followers. They manage to get their message across with only a few keyboard strokes, to an audience far and wide. Social media has become the perfect advertising and promotional tool for the leaders who wish to stay abreast of their competitors, or understand the needs of their employees, business partners, and the like. They are no longer kept in the dark about the reality of their business, political, or social situations and therefore the leaders are able to address the issues appropriately as they come to

Chromosome Markers in the DNA Tests Research Paper

Chromosome Markers in the DNA Tests - Research Paper Example Forensic DNA testing is currently performed by using the complex STR multiplex systems. This testing allows the testing of several loci in a single – tube PCR system. A highly variable STR is chosen for the analysis such that they should be within the detection range of 90 – 500 base pairs. These STRs should also be present in the other chromosomes too. Highly polymorphic markers and gender identifying markers are widely used in the STR multiplex systems. All these loci are labeled with different fluorescent dyes for the automated Genotyping. The fluorescent dye is attached to the PCR primers and these dyes get incorporated into the target DNA sequence during the process of amplification.   5-FAM (blue) dye is used for the STR loci D3S1358 and NED (Yellow) dye is used for D19S433 STR loci. By using the two different fluorescent dyes, it was observed that the height and the peaks of the STR loci D3S1358 and D19S433 are similar between them. If we use the same fluoresce nt dye then it may lead to confusion whether the source of DNA is from a single person or from multiple persons because the peak areas are very important for the determination of the amount of DNA. If the sample is homozygous and have only one peak with the area equal to the two individual peaks then it will be very difficult to analyze the results. This is very frequent if we use the same fluorescent dye for D3S1358 and D19S433. Since D3S1358 and D19S433 are similar to each other, the use of two different dyes will easily differentiate them. (Thompson 2006). The specific dye is incorporated into the PCR product and the level of emission of light and the intensity of light emission gives the details about the size of the DNA. The level of emission may vary for the two STR loci but since they are of same size, the emission level will be same and it will be very difficult to identify the two STRs. The factors for choosing the Fluorescent dye are based on the dyes, optical filters, las er and matrix to which it binds. The D3S1358 is 119 bp to 147 bp in size with the average repeats of 15. These loci will accept the blue dye more readily than the yellow dye. Similarly D19S433 is 206 bp with 9 repeats. (Foster and Laurin 2012). This also will absorb yellow dye more readily than the blue dye. The variation in the base pair is thus an important factor for the choice of fluorescent dyes. The peak heights of the two STR loci D3S1358 and D19S433 vary with the annealing temperatures. Similarly the relative intensity of the loci also varies. (Foster and Laurin 2012). First generation dyes were used for the analysis of the loci initially; later the development of the second generation dyes with more specificity replaced them. The fluorescent dyes used for the multiplex were amandine dyes that emits the color when bind properly to the DNA fragments. The fluorescent dyes NED and 6 - FAM currently for the identification of the D19S433 and D3S1358 produces standard results for the different populations in many parts of the world. (Li et al. 2013). Thus it is concluded that D3S1358 and D19S433 STR loci cannot have same fluorescent dye because they have the similar base pair length and produce the same peak. (Butler 2005). If the same dye is used then they will form only one peak but with

Problems of the Credit Rating Agencies

Problems of the Credit Rating Agencies Introduction On July 18th, 2007, while referring to adjustable rate mortgages (ARM) (also known as subprime mortgages) bonds, an executive of the Fitchs residential mortgage group said We continue to be confident that AAA ratings reflect the high credit quality of those bonds. Since then, between 2008 and 2009, 140 US banks declared bankruptcy while the International Monetary Fund now estimates world banks global losses due to loans and credit derivatives to approximate $4.1 trillion. If the subprime crisis has been the crisis of credit, it has also been the crisis of credit rating. Credit Rating Agencies (CRAs) (namely the tree major ones: Fitch Ratings, Moodys Investors Service and Standard Poors) have been under a lot of criticism in the recent credit crisis. Indeed, not only have CRAs been accused of making errors of judgment in rating structured debt securities, but also of operating a biased business model in an oligopolistic market. As a matter of fact, bond issuers, government regulators and investors have now lost their blind faith in credit ratings and therefore feel the compelling need to change, reorganize and restructure the CRA current business model and industry. Even though CRAs cannot be considered the sole responsible agent for the credit crisis, they have encountered great irregularities and problems: How can they be fixed? What solutions should be implemented to prevent the next credit crisis from happening? How has the credit and CRA crisis affected the leveraged finance industry? To tackle this question, we will first analyze what criticisms credit rating agencies have been subject to and what problems have been identified in the recent years. By evaluating different solutions and suggesting necessary changes, we will then examine how the credit rating business model and market structure could be improved. Finally, as it directly relates to the credit market and CRAs, we will study the impact of the crisis on the leveraged finance industry, with a special focus on leverage buyouts, buyout debt financing and structured finance. Section 1: Current problems of the Credit Rating Agencies business model Though many other players, such as lenders, borrowers, regulators, issuers, and macro factors, can be associated with and blamed for the current credit crunch, Credit Rating Agencies (CRAs) have been accused of being the main actors behind the malfunctioning and mispricing of the credit markets. Not only have CRAs been blamed for misrating complex structured debt products[1] and other subprime mortgage related products, but also of operating a biased business model in an oligopolistic market. In this first section, we will summarize these three main accusations and analyze in detail the validity of each argument. Solid and pertinent recommendations can only be made if the true problems have been identified. By analysing Moodys financial statements, we can observe that between 2002 and 2006, Moodys profits nearly tripled because of the growth of structured products, accounting for more than 40% of its total revenues in 2006, and the higher margins charged for these products.   Given the revenues generated, one would expect that CRAs did control the rating of these products. Now, after the default rate on adjustable rate mortgages (ARMs) reached its peak during the crisis and collateralized debt obligations (CDOs) became worthless, CRAs defended themselves by explaining how sophisticated these products were and how hard it was to rate them. This leads us to question, did CRAs rate products they did not understand? Before the mortgage market collapse, analysts like John Paulson expressed incredulity at what appeared to be a complete mispricing of the structured debt products and began predicting that the market would crash: For me it was so obvious that these securities were completely mispriced and we were living in a casino. I think the other players that were involved in the business got caught up in the exuberance, [] in the competition to increase their underwriting volumes, [] to increase their fees. They were very focused on annual earnings, quarterly earnings and annual bonus pools and with the amount of the liquidity, everyone got caught up in what became a massive credit bubble. (Distressed Volatility 2009) Mark Zandi, an economist at Moodys, noted in a report on U.S. Macro Outlook published in May 2006, that household debt was at a record and a fifth of such debt was classified as subprime. Unfortunately, the economic forecasting division is separate from the ratings division of the corporation. But how could CRAs not foresee the crisis and the flaws of their valuation models? The model used to rate structured products has been criticized for two reasons. First, Moodys rating model for assessing CDOs is a statistical model reliant on historical patterns of default. The main assumption behind this model is that past data would remain relevant, even during a period in which the mortgage industry (and its related products) was undergoing drastic change. Second, the use of this model revealed a large failure of common sense (Lowenstein, Triple-A failure 2008)by rating agencies as very complex securities shouldnt have been rated as plain vanilla bonds, for which the model was designed. CRAs were checking their statistical model, but not the underlying assets. As a consequence, Moodys noted in April 2007 that the model was first introduced in 2002. Since then, the mortgage market has evolved considerably with the introduction of many new products and an expansion of risks associated with them (Mason 2007) and thus revised the model it used to evaluate subprime mortgages. Similarly, in a response letter to Roger Lowensteins Triple-A failure article, Vickie Tillman, Executive Vice President of SPs Rating Services claims that her companys rating model includes both historical data and informed assumptions to assess credit quality. This adjusted model doesnt seem to solve the accuracy problem. Deven Sharma, president of SP, admits [] historical data we used and the assumptions we made significantly underestimated the severity of what has actually occurred (Sharma 2008) Even though one can acknowledge the greater complexity of CDOs and the difficulty of accurately assessing the risk profile of these products, the CRAs defence doesnt seem justifiable given the source of wealth these structure products represents to them. One would expect that CRAs would only provide a service they understood. There is still plenty of room for improvement in their models. Research led by Skreta and Veldkamp (Skreta and Veldkamp 2009) suggests that the complexity of any given asset hasnt increased but rather that the more complex types of assets became more prevalent. Indeed, when combined with the phenomenon of rating shopping, where issuers shop from one CRA to another to pick the best rating possible, asset complexity can lead to rating inflation and biased judgment. As a consequence, failure to address potential sources of bias inherent in the business model of the ratings industry could generate future problems. This discussion leads us to the conflict of interest inherent in the issuer-pay model, the second main accusation in our analysis. The conflict of interest between CRAs and bond issuers has been identified as the main problem because it drives the entire CRA business model. This conflict of interest between rating agencies and the bond issuers from whom they receive fees undermines the CRAs ability to give an unbiased assessment of credit risk. There are two types of potential conflicts of interest inherent in the issuer-pay model that may arise from the activities of the CRAs. The first is that rating agencies may be enticed to give better ratings in order to continue receiving service fees. Since CRAs revenues come from issuers, this conflict can lead to an agency problem. The second potential conflict relates to the consulting services CRAs provide to help the issuer to better design products to meet their models different thresholds. In both cases, CRAs run the risk of the issuer going to a different rating agency, which leads to the phenomenon of ratings shopping. Up until the 1970s, the investor-pay business model of credit rating agencies was straightforward: investors bought a subscription to receive ratings. It was during the 1970s that the business model evolved into an issuer-initiated ratings system where the issuers of securities began paying to be rated. Free riding by investors, leading to a reduction in profits for credit rating firms, was the main reason for this transition. As White (White 2002)observes, this shift also coincided with the rise in popularity of the photocopying machine. Although the issuer-pay business model has been around for more than forty years now, concern over ratings bias only recently emerged. Indeed, the conflict of interest, amplified by the rise of complex structured financial products, calls into question the objectivity of ratings that are critical to the efficiency of the market. (Levitt, Conflicts and the Credit Crunch 2007) In response to these accusations, CRA executives have maintained that the issuer pay model is not contradictory to the efficiency of their business model. It seems that a firm cannot support both issuers and investors simultaneously. In fact, the Report of the Staff to the Senate Committee on Governmental Affairs during the Enron case[2] cited empirical evidence: The conflict appears to be particularly acute for large important issues such as [] Enron []. In these cases investors desperately need guidance from credit rating firms, but often do not get it because of pressure from issuers, [] and in some cases, SEC officials. (Egan and Jones 2010) However, CRA executives have also asserted that CRAs have nothing to benefit from adjusting their ratings to their clients needs because they have a reputation to uphold. In June 2007, SP claimed that reputation is more important than revenues (Becker and Milbourn 2009) thus asserting that maintaining a good reputation had been a sufficiently strong motivating factor for CRAs to keep their high levels of efficiency and objectivity. In reference to this assertion we can ask ourselves: is reputation a sufficient motivating factor to maintain discipline among rating agencies? As a matter of fact, research led by Mathis, McAndrews and Rochet (Mathis, McAndrews and Rochet, Rating the Raters: Are Reputation Concerns Powerful Enough to Discipline Rating Agencies? 2009)has suggested that this argument is only valid when a large fraction of the CRA revenues comes from other sources than the rating of complex products. When the reputation of a CRA is good enough, and rating complex products become a large source of revenues (more than 40% of Moodys revenues), the CRA will become too lax and inflate its ratings. This mechanism builds on a three-step reputation cycle, ultimately resulting in crises of confidence where a single default provokes a complete loss of reputation by the CRA. First, the CRA tries to build and improve its reputation and gain investors trust by being very strict. Then, once a positive reputation has been gained, the CRA issues more ratings and takes advantage of its reputation. This is when CRAs become more lax and the risk of default incre ases.   Ultimately, when default occurs, there is a crisis of confidence: the opportunistic CRA is detected and its reputation is very negatively affected. This reputation cycle, which is also a confidence cycle, explains why opportunistic CRA are hard to spot and why ratings biases only recently emerged as a concern in response to inquiries from Vailiki Sketra (Sketra and Veldkamp 2009).[3] To exemplify this concept of reputation cycle, scholars find that CRAs are more likely to understate credit risk in booms than in recessions (Bolton, Freixa and Shapiro, The Credit Ratings Game 2009). Moreover, reputation seems greatly affected by competition, as it will reduce the effectiveness of the reputational mechanism for two main reasons.   First, reputation is only valuable if there are future producer rents. As a result, the incentive for maintaining a good reputation is reduced by competition. Second, from a microeconomical approach, if the demand elasticity facing individual sellers is higher in a competitive market, the temptation to either reduce prices or otherwise attract business may be stronger which undermines the quality of output. Therefore, the conflict of interest is not solved by reputation concerns. The second aspect of the conflict of interest relates to the collaboration between CRAs and issuers when designing a debt security. Lewis Ranieri, a pioneer in the mortgage bonds market, once said The whole creation of mortgage securities was involved with a rating (Norberg 2009). As a consequence, starting in the 1990s, CRAs started to offer consulting and advisory services to issuers to improve their ratings; a process that involves extended consultations between the agency and its client. The collaborative process that ensues is as follows: issuers propose a rating structure on a pool of debt. Then, the CRA will usually request a cushion of extra capital, known as an enhancement, to meet the necessary conditions for a specific rating. This practice can be dangerous because it is the CRAs responsibility to ensure that the cushion is big enough to safeguard the product, but issuers will try to minimize this extra capitalization in order to maximize their profit margin. Inside the CR As, consultants and raters were meant to be strictly separated by a Chinese wall'[4]. Regardless, CRAs (namely Moodys) began providing unsolicited ratings and offering consultancy services to improve them. Mr. Arthur Levitt, a former chairman of the Securities and Exchange Commission, pointed out in a recent article in the Wall Street journal that the conflicts of interest arising from such activities are the central problems with CRAs: [Credit rating agencies] are playing both coach and referee in the debt game. They rate companies and issuers that pay them for that service. And, in the case of structured financial instruments, which make it possible to securitize all those subprime mortgages, they help issuers construct these products to obtain the highest possible rating. These conflicts are hard to spot because transparency among these agencies is murky at best, and currently it is difficult to hold these agencies accountable for any wrongdoing (Levitt, Conflicts and the Credit Crunch 2007) The agencies are aware of the conflicts that are inherent to their business model but they claim that they are doing their best as to avoid them. In a letter to Roger Lowensteins Triple-A failure article, Vickie Tillman, Executive Vice President of SPs Rating Services defends her companys business models and practices: At Standard Poors, we recognize the business model we use may raise potential conflicts of interest. Thats why we have always had rigorous policies in place to manage conflicts, and why we currently are implementing additional measures to further strengthen the independence and quality of our ratings opinions. [] the role ratings firms play in the market [] is to provide independent assessments of the creditworthiness of bonds.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In order to make up for these practices, the US Securities and Exchange Commission (SEC) issued a release in February 2007 proposing rules which would identify the issue of unsolicited credit ratings (those not issuer-initiated), as unfair, coercive, or abusive, and thus would prohibit Nationally Recognized Statistical Rating Organizations (NRSROs) from releasing unsolicited credit ratings.   Even though the SEC intervention seemed necessary, it didnt change the industrys business model: by 2007, the mortgage boom had already reached its peak. Regardless of the criticism surrounding the relationship between issuers and rating agencies, the fact of the matter is that they were simply bringing bonds to market based on market demand, which clearly indicates a crisis of the issuer-based model. CRAs misbehaviour has played a central role in the current subprime mortgage crisis. As such, the governments and regulatory bodies should take steps forward to correct the current business model. We shall therefore investigate alternatives to this model in Section 2 of this paper. This conflict of interest leads us to ask, who finally owns the ratings? The evidence regarding whether rating agencies bend to the issuers will is mixed. A paper written by contract-theory scholars, Faure-Grimaud, Peyrache and Quesada (Faure-Grimaud, Peyrache and Quesada 2007) investigates this issue by looking at corporate governance ratings in a market with truthful CRAs and rational investors. They show that at equilibrium, in a monopoly, a CRA will fully disclose information but that issuers may prefer to suppress their ratings if they are too noisy because full disclosure is impossible even when firms have the possibility for ownership (i.e., the right to disclose the rating). Additionally, they find that competition between rating agencies can result in less information disclosure since CRAs make zero profit and fully disclose information on firms that have values higher than the CRAs marginal observation cost. In fact, the current business model seems to favour the banks in their quest to receive better ratings. Dr. Joseph Mason compared default rates for corporate bonds to equally BAA-rated CDOs before the bubble burst and found that the CDOs defaulted more than ten times as often (Mason 2007). While, as we discussed earlier, it may be true that CDOs are much more complex securities than plain-vanilla bonds, another interpretation of the data is that CRAs were much more lax when dealing with a Wall Street securitizer as client. But who can blame them? While it is true that on the traditional side of the business (unsophisticated bond rating) CRAs have a large variety of clients (virtually every corporation and municipality that issues public debt), this is not the case in structured finance. On the contrary, the panel of clients is much smaller and the fees are much bigger. The only issue is that the client pays only if the CRA delivers the desired rating. If they do not, the client can e ither adjust the numbers or take another chance with a competitor, a process known as ratings shopping. Brian Clarkson, former president and CEO of Moodys Investors Service acknowledged, There is a lot of rating shopping that goes on. What the market doesnt know is whos seen certain transactions but wasnt hired to rate those deals (Bolton, Freixa and Shapiro, The Credit Ratings Game 2009). In fact, an important feature of the credit ratings market microstructure is the capacity for a security issuer to choose which ratings to purchase. During this process, a structured debt product is issued and the issuer typically proposes a structure to a CRA. The issuer then asks for a shadow rating, which remains private between the CRA and the issuer, unless the issuer pays to make the rating official. Such choices can reflect both explicit and implicit shopping for desired credit reviews and induce a selection effect in the rating process. Selection highlights the relation between the decision about whether to rely on unsolicited ratings and the potential for ratings shopping, illustrating how different types of potential conflicts of interest in the credit rating process could interact. Indeed, shopping for ratings is a practice at the heart of the different conflicts of interest we mentioned above, as it partly invalidates the reputation argument because there seems to be a trade-off between reputation concerns and the risk for ratings shopping. It also encourages CRAs to strengthen their ties and relationship with issuers, most notably by offering a wider range of services. In an interesting paper, Skreta and Veldkamp (Sketra and Veldkamp 2009) examine cherry-picking in ratings, especially for securitization, by issuers who shop for the highest ratings in order to obtain the hi ghest price when selling to naive or little-informed investors. They highlight the influence of risk aversion in motivating the purchase of multiple ratings. Indeed, because investors are risk-averse, they will try to invest in the best-rated securities for an expected yield without having to asses the risk of every security they may be interested in, and thus rely heavily on ratings. The more ratings they have for a security, the more likely they will be to invest in it. Skreta and Veldkamp (Sketra and Veldkamp 2009) conclude that when combined with asset complexity, rating shopping can lead to rating inflation and thus biased judgment. To support that evidence, Kurt Schacht, managing director of the CFA Institute Centre explained that CRA executives [] were concerned about the hype and insinuation that CRAs easily inflate their ratings in response to pressure from issuers and issuers, implicating the integrity of their process and ratings. In exploring that topic, we were very surprised by the results of our member poll where some 211 of the 1,956 respondents said they have indeed witnessed a CRA change ratings in response to external pressures (CFA Institute 2008). As a consequence, not only does ratings shopping enhance ratings distortion, but it also corrupts the entire rating process by giving issuers an incentive to trick their clients into buying overrated securities. A third and final issue to investigate is the lack of competition in the credit-rating industry.   According to The Economist (The Economist 2007), Moodys and Standard Poors dominated the industry by controlling about 80% of the total market in 2007. The third-place competitor, Fitch, had only about 15% of the total share that same year. The current form of these institutions received legal status when the SEC introduced the notion-barrier of the NRSROs in 1975. The rest of the market is divided among only a few other institutions that have received legal status.   While alluding to the dominance of Moodys and Standard Poors in the credit market, the U.S. Department of Justice has referred to the credit-rating industry as a partner duopoly (Laing 2007). As noted by Jonathan R. Laing, a partner duopoly differs from an oligopoly because the partners in the duopoly do no face fierce competition against each other because ones good fortune in winning a piece of business is typicall y followed by the others receiving the same deal at the same lush fee level (Laing 2007).This duopoly has proven quite profitable, as Moodys operating margin is typically around 50% (if not more) better than Microsoft, Accenture, Intel, Nike or Coca-Cola. In fact, according to Congressman Henry Waxmans statement during the Congressional hearings in October 2008, Moodys had the highest profit margin of any company of the SP 500 index for five years in a row. An important complaint arising from this situation is that the lack of competition permits the main players to shirk, engaging in less effort and research that if they were true active competition (Coffee 2006). It may therefore seem that a free market would ensure competition among its CRAs guaranteeing a higher quality and lower price of the ratings. For that reason, competition from new agencies might create a healthy diversity of opinion, leading to more accurate assessments of debt issuers default probabilities Many scholars have analyzed whether this industry structure contributes to the efficiency of the global credit market. We shall investigate in further detail what seems to be the optimal market structure in the next section by examining the solutions and changes necessary to combating the various issues we have so far considered. Other scholars recognize that the existing duopoly may present risks to the market, especially since the two-rating norm is still in full force. Furthermore, since the CRA business model is reputational-driven business, new competitors may face very high barriers to entry. The CRA industry could therefore not allow for more participants. On the other hand, some scholars suggest that the SECs role in both creating and perpetuating this duopoly by which establishing the status and necessary requirements to become a NRSROs, and an official registry. Since competition can both be seen as a problem and as a solution to the CRA industry and business model, we shall now examine the different initiatives that can be undertaken to improve the overall model and functioning of the credit rating market. Section 2: Solutions to fix the identified problems The subprime crisis has brought to light the poor performance of CRAs in rating structured financial products and reminded investors of CRAs past poor performance in predicting the East Asian crisis and the collapse of Enron[5]. Either directly by regulations, or by market force, there are strong signals that the credit rating business is about to change. The main accusations we previously addressed and the perception that CRAs contributed to the financial crisis led to various investigations and calls for reform. In this section, after briefly presenting CRAs reaction to criticism, we will first analyze the different alternatives suggested by scholars and experts to the current business model and the overall industry structure. We will then study the different reforms and regulatory recommendation that have been suggested to the current business model that would improve CRAs effectiveness and enhance the overall market efficiency. Finally, once these changes examined, from a regulat ory standpoint, we will observe the measures recently adopted by both the European Union and the US government (and regulating agencies), determine how the approaches differ and how necessary regulation is. CRAs reaction to accusations CRAs have responded to the allegations with cries of innocence.   If some rating firms claimed that they did nothing wrong and have indicated that they will cooperate openly in any investigation that comes their way, others   did acknowledge some mistakes and have announced the intention to reform their practices.   For example, spokespersons for Moodys, Standard Poors and Fitch have claimed that their organizations will demand more data and more verification and will subject their analysts to more outside checks (Lowenstein, Triple-A failure 2008) However, some may say that CRAs might have implemented these changes simply to avoid further criticism and regulatory intervention.   Indeed, as Lowenstein claims, none of this [] will remove the conflict of interest in the issuer-pays model .   We shall further analyze the case for self regulation in our analysis. In their effort to defend themselves, the CRAs have sought to minimize their role and influence within the financial industry.   According to a spokesperson for Moodys: We perform a very significant but extremely limited role in the credit markets. We issue reasoned, forward-looking opinions about credit risk. [] Our opinions are objective and not tied to any recommendations to buy and sell (Benner and Lashinsky 2007) The consensus of these critics is that the agencies dropped the ball by issuing investment-grade ratings on securities backed by subprime mortgages they should have known were shaky (Benner and Lashinsky 2007) Rather than accept responsibility for their own lack of diligence, the major CRAs have sought to lay the blame on the mortgage holders who turned out to be deadbeats, many of whom lied to obtain their loans (Lowenstein 2008).   Of course, it must be noted that other groups and individuals share the responsibility for the global financial downturn.   As Laing says in regard to CRAs, they were just one link in a subprime production line that stretched from sleazy storefront mortgage brokers, corrupt appraisers and avaricious originators to fee-crazed securitizers and, yes, mendacious borrowers (Laing 2007).   Nonetheless, as Laing further notes, CRAs must be seen as key enablers in the problems development.   i) New agency industry structure and business model Proposals have been made to improve the credit-rating system and thereby reduce the problems we identified. First, it seems that CRA need more independence. As Laing suggests it, many of the changes implemented in the auditing industry with the Sarbanes-Oxley Act could be similarly carried out. (Even though one may discuss whether this Act has improved capital markets transparency or not, one must note it has enforced the implementation of internal control, due diligence and transparency procedures in firms)For instance ratings agency employees should be prohibited from accepting any favors (whether it is money of gifts) from their clients and the leading analyst should rotate from a client to another with a certain frequency and should wait at least one year before joining their clients firm (an issuer or investment bank in this case) Laing also suggests that the 2003 SEC proposal, which prohibits the linkage of analyst compensation with new business development, could be reenacted. First, CRAs should be more transparent in two distinctive ways. The global credit market needs greater transparency about CRAs overall rating model: rating assumptions, methodologies, but also the fee structures, and past performance. To be more transparent CRAs should follow stricter disclosure requirements (as mentioned in the Rating Agency Act in 2006). Professor Charles W. Calomiris (Calomiris 2009) suggests that, more disclosure could also be required for publicly traded companies with rated debt when filling in debt-offering documents Particularly, in order to prompt CRAs to reduce or eliminate their conflicts of interest, they should disclose any structuring service or consulting-related activity (and the fees related to such practices) provided to a company in connection with the rating of fixed-income securities Second, there is a strong need, expressed by both scholars and analysts, for a clear distinction between the rating of structured products and traditional debt products and thus different rating symbols could be used so as to avoid confusion. The issue is, not all AAA-rated securities are created equally. As demonstrated in the current credit crisis and as proven by Drexel University finance professor Joseph Mason, CDOs receiving a Baa rating from Moodys were more than ten times as likely to default as similarly rated corporate bonds (Mason 2007). As a matter of fact, despite the identical symbols, structured products typically do not have the same risk profile as traditional corporate bonds. By nature, whereas corporate default can be estimated by very few factors (namely the level of leverage of the firm and its capacity to generate stable cash flows from operations), default on structured debt is dependent on hundreds or thousands of individual defaults [e.g., an underlying mortga ge pool] that are estimated given some distribution. They are not the same analysis so they should not be the same ratings. (CFA Institute 2008) A different rating scale according to the risk profile of the products could be used as to not mislead investors into buying misrated securities. As an alternative, Professor Coffee at Columbia University suggests the SEC could define a maximum default rate for different class of ratings, so that if a CRAs ratings were to exceed SEC parameters, it would loose their NRSRO status. (Coffee 2006) Building on this, the entire rating nomenclature could be changed and ratings could be expressed quantitatively as to avoid grade inflation in CRAs opinions. Indeed, in contrast to numerical estimates (of the probability of default (PD) and loss given default (LGD)),which do have objective and quantifiable meanings, letter grades leave more room for sub