Chauncy and Gay Male Culture, 1890-1940 (responses) Assignment

Chauncy and Gay Male Culture, 1890-1940 (responses) - Assignment Example I feel the response is correct in its assessment of gay male culture through the questions answered. The second response correctly identifies the three myths that Chauncey aims at dismantling. The response is however not very well detailed when it comes to assessing the questions raised. The author identifies the reasons for gay closure on a narrower perspective. The author should provide a wider perspective of the reasons gays remained closeted at certain points in history. The author provides his answers to the question as to why gay men got forced underground by simply quoting Chauncey. The author should elaborate on Chauncey’s reason a bit further. The response also has a few grammar mistakes in regards to the use of tenses and sentence structure which require ironing out. I feel the author in the second response has valid answers to the questions posed but needs to structure his sentences for his or her answers to come out more

Romantic Literature Essay Example for Free

Romantic Literature Essay Romance is described as a mysterious or fascinating quality or appeal, as of something adventurous, heroic, or strangely beautiful. Romance is often written about in many works throughout time. In the 18th century the â€Å"brooding† romantics shared an idea that all humans were capable of being evil. Their writing was often complex, mysterious, and filled with emotion. Washington Irving’s â€Å"The Devil and Tom Walker†, Edgar Allen’s â€Å"The Masque of the Red Death†, and Nathaniel Hawthorne’s â€Å"The Minster’s Black Veil† are romantic stories because they emphasize on passion, nature, the individual, and the unusual. Even though Hawthorne, Poe, and Irving are all romantic writers, they use different elements to develop their stories. Washington Irving uses several romantic elements to tell the story of Tom Walker, an old miserly man who sells his soul the Devil in exchange for wealth. One element that is illustrated is the use of imagination and emotion once Tom became secure in his wealth he started to show how evil he really was, â€Å"Let the freebooter roast,’ said Tom; ‘who cares!’ He now felt convinced that all he had heard and seen was no illusion.† (Irving 319). As Tom starts to grow old he realizes how bad his deal with the Devil was, he attempts to undo his wrongdoing by becoming religious. Tom gets out of the deal and is left poor when he asks to be taken if he has made money off of hopeless people, Walker is left with nothing, and his fortune is now worth mere pennies. (Irving 324). Irving also shows an interest in the historic past, the Devil is guarding a hidden treasure buried by Kidd the pirate, the treasure was never recovered because of the pirate being killed. (Irving 312). While Tom Walker was taking a short cut home he comes across old Indian land. â€Å"Nothing remained of the old Indian for but a few embankments, gradually sinking to the level of the surrounding earth, and already overgrown in part by oaks and other forest trees, the foliage of which formed a contrast to the dark pines and hemlocks of the swamp.† (Irving 315). Finding an old Indian skull really sparked Walker’s interest in the bizarre; this is when the devil first comes in contact with Tom. (Irving 317). During this encounter the Devil describes who he really is, â€Å"I amuse myself by presiding at the persecutions of Quakers and Anabaptists; I am the great patron and prompter of slave dealers and the grand masters of the Salem witches.† (Irving 317). Washington Irving’s 18th century work is romantic literature because it exhibits the use of imagination and emotion, an interest in the historic past, and also an interest in the unusual, bizarre, or unfami liar. Poe uses a belief in the unusual, bizarre, or unfamiliar, a revolt against authority and an emphasis on imagination and feeling in his romantic writing. In this tale a disease called the Red Death infects a country, Prince Prospero decides to take everyone who has not came in contact with the illness to his palace where they will party all day and have a moment of silence at the sound of a clock ringing every hour, to commemorate being. (Poe 431). â€Å"Prince Prospero was happy and dauntless and sagacious. When his dominions were half depopulated, he summoned to his presence a thousand hale and lighthearted friends from among the knights and dames of his court . . . â€Å"(Poe 429). One day at midnight an uninvited guest arrived wearing a mask that resembles a corpse and his face has spots of blood, suggesting that he is a victim of the Red Death. The prince revolts against authority when he attacks the masked mummer for showing up to his party. (Poe 433). The palace where the festivities were held had intercut and bizarre rooms, each area was painted a different solid color, but the last room is black with red windows creating an eerie feeling. (Poe 430). To develop his story, Hawthorne used the elements of emphasis on the individual, emphasis on the unfamiliar, bizarre, or the unusual, and the use of imagination. â€Å"The Minister’s Black Veil† walks the reader through a minister, Mr. Hooper, and his community once he starts to wear a black veil over his face every day. (Hawthorne 461). The people of Milford, including his fiancà ©e, were all confused on why the minister would not ever remove his veil. The tale is centered on Mr. Hopper and the reason for the veil, â€Å"A rumor of some unaccountable phenomenon had preceded Mr. Hooper into the meeting house, and set the entire congregation astir.† (Hawthorne 460). The face covering was mysterious and unusual to the public, they figured that the minister wearing the veil symbolized a horrible sin, â€Å"Swathed about his forehead, and hanging down over his face, so low as to be shaken by his breath, Mr. Hopper has on a black veil.† (Hawthorne 460). The minister never told anyone why he wore the shield on his face but demanded that people respect his decision to wear it. This caused him and his fiancà ©e, Elizabeth, to have arguments. Hawthorne uses imagination in this work when Elizabeth and Mr. Hopper have their final argument over the veil, â€Å"For a few moments she appeared lost in a thought, considering, probably, what new methods might be tried to withdraw her lover from so dark a fantasy, which, if it had no other meaning, was perhaps a symptom of mental disease.† (Hawthorne 467). His fiancà ©e leaves him, but come back years later to help take care of him in his last years; throughout the time they were apart she never married anyone else. On his death bed Mr. Hopper still did not remove the black veil; the town thought this to be bizarre but did not question his choice. (Hawthorne 470). The minister wished that his congregation would help him through his journey, but instead the gossiped and proved that they were not supportive churchgoers as they portrayed. Hawthorne’s â€Å"The Minister’s Black Veil† proves that is a romantic work because it illustrates emphasis on the individual, emphasis on the unfamiliar, bizarre, or the unusual, and the use of imagination. Poe, Hawthorne, and Irving are romantic writers because their works use five different elements in order to create a short story. All three stories have a male character that had to make a choice without thinking about how it affected the people around them. The tales had emphasis on emotion, nature, and the individual. The â€Å"brooding† romantics were not like the authors that write romance novels now. Their writing was darker and definitely not as light hearted. Centuries later the definition of romance has changed drastically.

Why are brands are important?

Why are brands are important? Introduction : Today the brand is a word which we always hear, it has one important place in our societies. However, few people could define really what is the brand. This difficulty shows that the brand is a complex word, sending back in notion highly varied such as the psychology, the sociology, the finance, etc. As regards the marketing aspect, we often tend to confuse product and brand. Whereas the brand bases itself more particularly on (the image, the sensibility, a mission). We can ask ourself, what is a brand? In a definition, Georges Lewi, eminent specialist of the brand says that its the name and the group of the signs of a product, a service, a company that have for vocation to impose by their fame, market share, added value on a defined market segment. More and more, the brands have taken of importance in the management, and more particularly in the marketing. We noticed that the brand is not only a factories, products, but also the brand had a physical value, emotional value and especially financial. The measure of this value called the equity brand. The first is the financiers who show an attention on this notion of brand equity in the 80s. We saw that Perrier had been buy by Nestlà © for 2,4 billion euro, Coca-Cola had offered 800 million euro for the acquisition of Orangina which was worth for only 200 million euro, or sold Buitoni 35 times its profits. From then on, we cannot deny the importance of the brand equity, and the brand in generally, indeed it allows to build a credibility at the consumers, at the investors, and all the company. In this essay we talk about brand equity. In a first time we see that the brand equity has been a attention topic by the academic and practitioner. And after we are going to try to find the most brand equity model in terms of understanding consumer brand perceptions. 2-brand equity interest More of $50 million, it is the considerable costs of introducing a brand into a consumer market. It is a considerable investment and like most investments carries no guarantee of success. The recession focussed marketing managers on cost-saving tactics to increase competitiveness. One of the most important effects was to make brand extensions more compelling. Leveraging the brand equity of a successful brand promises to make introduction of a new entry less costly by trading on an established name. Since the early 1990s, The concept of brand equity has been the subject of a number of studies academics practitioners and academics primarily due to the importance in todays maintaining, marketplace of building and using brands to obtain strategic advantage. The brand equity has been described frequently as the value a brand name adds to a product and this concept refers to the basic idea that a products value to consumers, the firm and the trade is somehow enhanced when it is associated or identified over time with a set of unique elements that define the brand concept. Distinctly, such brand equity endowments come from current or potential consumer learning which influences how the product is encoded and behaved upon by consumers. It stands to reason that such learning is dynamic and influences consumer choice processes and outcomes either directly or indirectly by influencing the effectiveness of the branded products marketing mix elements. This increasing interest observed both in the literature and in the practice for the notion of leading capital is initially aroused for manager reasons. Indeed the managers to face up to a less and less stable request in markets, a more and more intense and international competition, faster and faster technological changes and more and more powerful distributors today. In these conditions of a turbulent market, an option consists in abandoning the marketing and commercial shares on the short-term profits and in adopting a vision longer term based on the construction of powerful brands that is a strong leading capital (Czellar and Denis, 2002). Another reason has also contributed to this interest for the brand equity. Kapferer see in 1998 that the mergers and acquisitions of companies which occurred during the last years, has stir up the problem of the financial evaluation of the value of assets of the firm in generally and the assets of the brands in particular.Two levels of analysis of brand equity are possible: the study of brand equity as value for the consumers customer-based equity brand or as financial value for firms firm-based equity brand . The concept of brand equity have been different definitions in the literature. Aaker defined in 1991 the brand equity as a set of brand assets and liabilities linked to a brand, its name and symbol, that add to or subtract from the value provided by a product or service to a firm ,or to the firms customers. In 1993 Keller proposed a cognitive psychology perspective, distinctive customer-based brand equity as the differential effect that brand knowledge has on consumer response to the marketing of that brand. In 1998 Erdem and Swait, dopting an information economics view, they argue that consumer-based brand equity is the value of a brand as a credible signal of a products position. More generally, Farquhar (1989) see that the brand equity is often referred to as the added value to the firm, the trade, or the cons umer with which a brand endows a product, or likewise, as the difference between the value of the product without that branding and the value of the branded product to the consumer (McQueen, 1991). Finally the brand equity has been subject attention because the many studies of consumer brand in different market show that successful brand extensions spent less on advertising than comparable new name products. Considering the savings and against the costs, brand extension may seem like a good alternative for some firm. This concept brand equity is today again one point of discord between the academics and practitioners. So the brand equity will be always a topic studie. Offshore Enterprise in Cyprus: Business Plan Offshore Enterprise in Cyprus: Business Plan

Power in OConnors The Artificial Nigger and Masons Shiloh Essay

Power in O'Connor's The Artificial Nigger and Mason's Shiloh Flannery O'Connor's story The Artificial Nigger and Bobbie Ann Mason's story Shiloh both possess characters that excercise power . Mr. Head, the main character that exercises power in The Artificial Nigger, is an old racist man, who claims to know everything. In Mason's story, Norma Jean, a simple southern woman who wants change in her life, is the main character that exercises power. Both characters are similar in their successful exercise of power; however, the effects their power have are different. Mr. Head's exercise of power has a negative effect on his grandson, Nelson, while Norma Jean's exercise of power serves as a way to benefit herself. Mr. Head's main focus is to make Nelson see black people as "niggers" and for Nelson to fear the city. Mr. Head's controling nature effects Nelson in a negative manner. From the beginning of the story, Mr. Head's powerful and controling personality is evident when the narrator states, "...he saw half of the moon five feet away in his shaving mirror, paused as if it were waiting to enter" (249). Mr. Head's desire to control also extends to all aspects of life. His intentions for Nelson are clear when he says, "...but I mean for him to get his fill once and for all" (254). By making Nelson feel powerless, Mr. Head steals away his innocence. Before influencing his grandson, Nelson's description of a black man is "'A man,'" but later in the story Nelson begins to see black people as "niggers," just like his grandfather (255). Fearing the cit y, also has a negative effect on Nelson. He holds pride in being born in Atlanta, but his grandfather wants to teach Nelson that "he had no cause for pride merely because he had been... ...aking classes, she is able to slowly but surely find her independence again. Norma Jean finally tells her husband that she wants to leave him because she does not want to "...feel eighteen again" (500). By leaving Leroy and starting a new life, Norma Jean is able to forget the pain and embarassment she felt many years ago. The power she possesses enables her to succeed in her wish to move on. The characters in both stories have similarities and differences. Mr. Head and Norma Jean use their power to get what they want. Both are similar because they are successful in exercising their power and are different becausse their power has different effects. Mr. Head thrives on control and succeeds in his plan to control his grandson. Norma Jean works at self-improvemennt so that she can leave her husband and continue to live the life that she has longed for. Â   Â  

Policing Practices and Operations Essay

Law enforcement officers have many duties. Law enforcement officers are sworn to serve and protect society as well as to fight crime. They also maintain order within their jurisdiction, as well as providing other services that the community will benefit from. Most of the time, police officers are considered to be crime fighters, in which this image has been brought to citizen’s attention by the media. The styles of policing should match the community in which they serve, so there is no conflict between the community and the law enforcement officer. The future policing structure does have a huge impact socially, economically, and politically within the community and the police departments general needs so that they can provide the proper policing that is needed. Life threatening situations take place in different circumstances, which includes the law enforcement agencies. Dangers Law enforcement officers face being wounded or murdered as they are on the line of duty in the United States, every year. The greatest threat a police officer will ever face is bodily harm and death. When a law enforcement officer is called to a scene and responds to a disturbance call, the law enforcement officer is confronted with the possibilities of violent actions from an armed suspect. Although, bodily harm as well as death upon a law enforcement officer are not the only dangers in policing. Family issues and stress related illnesses also can be contributing factors to the danger of a law enforcement officer and policing. Law enforcement officer’s jobs can surely take a toll on their lives as well as their well-being. If the pressures of their type of work are handled and coped with property, it could end up becoming life threatening. Today’s law enforcement officers are faced with many dangers within their everyday duties, like rival threats of getting shot. Examples are: vehicle pursuits, traffic control, and foot pursuit, stress, making an arrest, and sun exposure/duty equipment and biohazard exposure. These dangers are exposed to law enforcement officers on a daily basis. This is why it is important for law enforcement officers to wear their bulletproof vests as well as their belts that contain pepper spray, radio, handgun, baton, and handcuffs. All of this specified equipment usually will weigh up to about twenty pounds, which adds stress to the law enforcement officers hips, feet, knees, and back areas. Stress to the law enforcement officers body by getting in and out of their patrol vehicle up to about fifty times within one day, as they have to wear all of their equipment. Law enforcement officers are exposed to the extreme temperatures for many hours at a time. They may have to be in extreme heat c onditions, such as one hundred degree heat, while conducting traffic control at a scene of an accident. They also sometimes have to provide crime scene security when the weather may be in freezing conditions. Law enforcement officers are at the mercy of all weather conditions. Also, a lot of the times law enforcement officers are called to a scene and they are not properly prepared for it because of the weather conditions and they do not have the time to stop somewhere to get what they need to prepare themselves. They may have to stand out in extremely hot or freezing weather without the proper protection they may need or hydration they so desperately have to have. Law enforcement officer’s physical dangers have to be dealt with as well as trying to always be ready for the worst. As this can add so much mental and physical stress upon the law enforcement officer. They have to be aware of their surroundings and environment all the time. Law enforcement officers have to be alert as well as being prepared for all situations that may occur. The officer will rarely have time to get prepared for an emergency call. They have to sometimes rely on the training the received to be able to make important, split second decisions that are based on different circumstances. The September 11, 2001 terrorist attacks gained the attention from all the departments within law enforcement. Within the federal policing agencies, they took precautionary measures to make sure that the people of  the United States were safe. Even though, the local and state agencies have managed to keep the people’s fears under control within the United States and communities as well. All of the agencies in the United States have to work fearlessly on preventing and reducing the citizen’s fears caused by terrorism. When terrorism is looked into, law enforcement agencies and Homeland security across the world are very imperative that the agencies try to work together in solving the crimes by using shared information and by having departmental as sistance. All in all, terrorism is always a danger for law enforcement officers. Statistics As reports were published by the National Police Officer Memorial Funds said that in 2010, officer’s fatalities treacherously rose. There was a two year drop of law enforcement mortalities in 2010 that rose to 160. This was intensified by about forty percent compared by looking at the year before. The data gathered by the National Law Enforcement Officers Memorial Fund indicated that for the thirteenth consecutive year, the number one cause of law enforcement officers deaths were contributed by traffic fatalities, within thirty nine states. Puerto Rico and the District of Columbia were also involved in law enforcement officer’s related deaths in 2010. Within the third consecutive year in a row, Texas, Florida, and California were ranked on top of the five states that involved the most of law enforcement fatalities. The Federal law enforcement Officers had a total of eleven law enforcement officers that were lost, including the Federal agents that lost their lives in the line of duty during 2010, along with United States Customs, two United States Border Patrol agents, and three Border Protection officers. According with the Federal Bureau of Investigations (2011) website, it stated that fifty-six law enforcement officers were killed in the line of duty. Thirty two law enforcement officers that were among the fifty-six, were employed within city police departments. Thirteen of them were employed for law enforcement agencies within cities of a population consisting of 250,000 or more people that reside there. In Puerto Rico and twenty two other states, there was also line of duty deaths as well. There were fifteen law enforcement officers who lost their lives in ambush situations as well. There were fourteen law enforcement officers that lost their lives in felonious attacks while involved in arrest situations. There were eight law enforcement officers that were killed when they were investigating suspicious persons/circumstances. There were seven law enforcement officers that were killed while working on traffic stops/pursuits. Six law enforcement officers were killed while answering to disturbance calls. There were three law enforcement officers that were killed while they were involved in tactical situations, like high risk entry, barricaded offender, hostage situations, etc. There were two law enforcement officers that were killed upon conducting investigations while searching, interviewing, and looking at surveillance. And one law enforcement officer was killed as they were maintaining custody of a prisoner or while transporting a prisoner. With future policing, I feel that it is important to have close communication with the homeland security. I personally feel that the more communication there is, the more we will progress and bring better policing skills. It is equally as important to have communication with all law enforcement agencies to help in improving all policing operations that are dealt with. In future policing, the importance of keeping law enforcement agencies relationships maintained will build better and stronger agencies. With the relationship within law enforcement agencies and homeland security are not as accurate as seemed. It is understood that all agencies serve different purposes, as they are all in charge of different types of areas within society to serve and protect. I believe that joining forces with other agencies would be beneficial. It would be beneficial because by all working together, there could be issues that could be addressed a lot better. Along with lack of communication among law enforcement agencies and homeland security, we would be able to better handle the various criminal issues better. I feel that this can also improve community policing and law enforcement relationships. With the new technology equipment that police officers receive, they can work on their policing styles, such as being reactive or proactive. Once these issues are changed, there will be better communication with other law enforcement agencies, as they would be able to serve and protect in much more positive ways. This will decrease crime rates as well as increasing practices that  are reactive. As crime rates decrease, and proactive and reactive practices are being practiced, then the start of confidence will show within all law enforcement agencies. Although, there are many differences in the power as well as the authority, responsibilities and roles, and the difference in jurisdiction at the local, state, and federal levels within law enforcement officers. It is clearly apparent that all of the dangers within them remain equally the same. References American bar association. (2011). Standards on urban police functions. Retrieved from http://www.americanbar.org/publications/criminal_justice_section_archive/crimjust_standards_urbanpolice.html Federal bureau of investigations. (2011). Officers feloniously killed. Retrieved from http://www.fbi.gov/about-us/cjis/ucr/leoka/leoka-2010/officers-feloniously-killed Crime in America.NET. (2011). Law enforcement fatalities dramatically increase in 2010. Retrieved from http://crimeinamerica.net/2011/01/04/law-enforcement-fatalities-dramatically-increase-in-2010/

Characteristics of Marcus Camillus and Augustus Octavian

Characteristics of Marcus Camillus and Augustus Octavian Marcus Furius Camillus is the Roman leader and military hero who managed to triumph for times. The Roman statesman is also considered the second founder of Rome. Augustus is the first founder of the Roman Empire. Therefore, leaders could be regarded as the founders of the Roman Empire.Advertising We will write a custom essay sample on Characteristics of Marcus Camillus and Augustus Octavian specifically for you for only $16.05 $11/page Learn More Hence, during the reign of Augustus, the Romans experienced the peaceful existence for over two centuries despite the continuous expansion of the emperor. The wisdom of the Roman Emperor consisted in his ability to favor expansion policy with no harm to the Roman population. In his book, Augustus mentioned, â€Å"I made the sea peaceful and freed it of pirates† (section 25 n. p.). Hence, the Roman ruler managed to establish allegiance with Spanish, Gallic, and African governments. Unlike Augustus, Camillus wa s known as a tyrant who captured the Rome through violence and war. Acknowledged as a military leader, the Roman Senators appointed Marcus as the dictator to confront the Gauls. Despite his image of a violent and aggressive leader, Camillus managed to negotiate with Brennus, the Gallic leader, and made him leave Rome. The day after, the Gauls returned with refreshed army, but were defeated by Camillus. As a result, the Roman soldier was later appointed as Roman Emperor and was known as the dictator who reigned for the longest period. In the book, Livy refers to these events to emphasize the courage of the Roman leader: â€Å"†¦a general, selected by the fates, both for destruction of that city, and the preservation of his native country, Marcus Furius Camillus, was nominated dictator† (pg 475). The Roman Senate recognized the powerful tactics of fearless soldier although his violent attitude to the people was not welcomed. Both leaders brightly expressed their commitment to the welfare of Roman people and Italy. In this respect, Augustus is also known as the one who donated land, grain, and money to the Romans to improve their welfare.Advertising Looking for essay on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More While enumerating his achievements, Augustus specifically refers to success in war and foreign policies and states, â€Å"the whole of Italy of its own free will swore allegiance to me and demanded me as the leader in the war† (sec. 25 n. p.). The first Roman Emperor reconciled conflicts on his territory and restored the stability in the country. He also received various awards and honors, which were represented in historic documents. The official title was among the highest honors assigned to a Roman. Unlike Augustus, Camillus’s achievements were less recognized among the Roman people. This is of particular concern to his return to the Capitolium. The Romans were n ot entirely satisfied with the policy and heroism of the dictator and, therefore, he was regarded as a nothing but an evil tyrant whose authority should be respected to avoid conflicts. However, his talent in military strategy forced the Roman Senators to accept his power and appoint him the governmental leader. In order to emphasize Camillus’s gift in conducting war, Livy notes, â€Å"they had used the most effectual means which human wisdom could suggest, for insuring success in giving the command to Marcus Furius, the greatest general of the age† (pg 482). Therefore, Camillus is considered a more aggressive leader who methods of gaining power and control were confined to war and violence. Both Roman founders were recognized as outstanding military leaders, but their military tactics differed significantly from each other. In particular, Augustus managed to strike the balance between constant war expansion and peaceful existence in the Empire. Although the Emperor wa s constantly involved into war actions, the civil population did not experience any military intrusion in their daily lives. Therefore, he could be considered as a wise and experienced ruler. What is more important is that the Roman Emperor managed to restore the state from war actions by constantly constructing temples, churches, and buildings. His donations of lands and money are also highlighted in the reading:Advertising We will write a custom essay sample on Characteristics of Marcus Camillus and Augustus Octavian specifically for you for only $16.05 $11/page Learn More â€Å"Four times I assisted the treasury with my own money, so that I transferred to the administrators of the treasury 150.000.000 sesterces† (sec. 17, n. p.). In this respect he could be considered not only a wise and experienced ruler, but also a generous mentor. In contrast to Augustus, Marcus Camillus was less concerned with the peaceful welfare of the Roman population. His main purpose lied in expanding the territories and conquering new lands. Livy underlines Marcus’s ambitions and focuses on his struggles against the rivals: â€Å"he had reduced the spoils of Veii to nothing; daringly abusing the nobles, in their absence† (pg 486). Therefore, the general made everything possible to take control of other territories and prove his superiority. With regard to the above-presented debates, it should be stated that both military leaders made significant contribution to the economic and political development of the Roman Empire. Their methods and military tactics were extremely different. Nevertheless, both historic figures remained in the Roman history as outstanding dictators and talented rulers that managed to empower the Roman people and provide new ways for the prosperity. Augustus. Res Gestae Divi Augusti. Trans. Peter Brunt, and James Moore UK: Oxford University Press. 1969. Web. Livy. The History of Rome. US: T. Cadell and W. Davies. 1797. Print.

Pros and Cons to Capital Punishment essays

Pros and Cons to Capital Punishment essays For many years the death penalty has been the sentence for murders, rapists, and other serial criminals. But, in recent months it has been an issue in whether the death penalty should or should not be legal. (Lancashire, Ian. Page. 20) There are many people that think that capital punishment should be used and there are others that feel that it should not be used. Also there are some in the middle that think that it doesn't really matter because they feel that whatever happens will be right because it was brought up and decided in a court of law. Capital punishment is the only way to be sure the killing will end with that criminal. If we execute murders and there is in fact no deterrent effect, we have killed but failed to Capital punishment is the only way to stop capital crimes. For example, citizens feel that capital punishment is fair for those that have committed the crime such as murder. This shows that you have to find and prove that the criminal is truly guilty. This could take days, months, even years. Prisons are not hard enough on there inmates. For example the inmates are allowed to attend school and watch TV in case that they are released. But then, didnt they committee a capital crime? That should mean guaranteed life in prison, if not the death penalty. These criminals killed people, and if there not going to be killed they sure better not be released to do it again. It seems like they dont remember that the inmate had no mercy when they were raping, or killing that innocent person, yet we feel sorry for them. There are lots of issues that arise with the death penalty, such as moral issues and innocent lives being taken when may be they shouldnt. For example there is a lot that needs to be done before the initial action is taken place. This shows that their needs to be clear and correct ev ...

Free Essays on Disorders In Children

Childhood-Onset Bipolar Disorder Childhood Onset Bipolar Disorder (COBPD) is one of the most debilitating mental disorders affecting children today. Bipolar Disorder is a mood disorder usually affecting adults that causes sometimes severe changes in mood. Childhood Onset Bipolar disorder is just what it sounds like, a bipolar disorder that occurs during childhood. Persons suffering from a bipolar disorder experience mood swings ranging from depression to mania. During a depressive episode patients can experience feelings of extreme hopelessness or sadness, inability to concentrate and trouble sleeping. Symptoms of mania include rapidly changing ideas, exaggerated cheerfulness and excessive physical activity. Hypomanic symptoms are the same as in mania, however, they are not so severe as to require hospitalization. The fourth edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM-IV) outlines the diagnostic criteria for mood disorders. According to the DSM-IV, a per son must have at least 5 of the following symptoms during the same 2 week period to qualify as a major depressive episode: a depressed mood lasting most of the day for several days; a significant weight gain or weight loss; a loss of interest in activities; difficulty sleeping (insomnia) or an increased need for sleep (hypersomnia); restlessness or slowed pace observable by others; daily fatigue; feelings of guilt or worthlessness; inability to concentrate; or recurrent thoughts of death. These symptoms can only be diagnosed as a depressed episode if they are not better explained by grief, effects of a drug, or a medical condition. The person experiencing these symptoms must, also report an interference in their daily functioning because of the symptoms. Finally, the person’s symptoms do not meet the criteria for a mixed state. The criteria for a mixed episode state that the person must display symptoms of depression and mania every day during at least a 1... Free Essays on Disorders In Children Free Essays on Disorders In Children Childhood-Onset Bipolar Disorder Childhood Onset Bipolar Disorder (COBPD) is one of the most debilitating mental disorders affecting children today. Bipolar Disorder is a mood disorder usually affecting adults that causes sometimes severe changes in mood. Childhood Onset Bipolar disorder is just what it sounds like, a bipolar disorder that occurs during childhood. Persons suffering from a bipolar disorder experience mood swings ranging from depression to mania. During a depressive episode patients can experience feelings of extreme hopelessness or sadness, inability to concentrate and trouble sleeping. Symptoms of mania include rapidly changing ideas, exaggerated cheerfulness and excessive physical activity. Hypomanic symptoms are the same as in mania, however, they are not so severe as to require hospitalization. The fourth edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM-IV) outlines the diagnostic criteria for mood disorders. According to the DSM-IV, a per son must have at least 5 of the following symptoms during the same 2 week period to qualify as a major depressive episode: a depressed mood lasting most of the day for several days; a significant weight gain or weight loss; a loss of interest in activities; difficulty sleeping (insomnia) or an increased need for sleep (hypersomnia); restlessness or slowed pace observable by others; daily fatigue; feelings of guilt or worthlessness; inability to concentrate; or recurrent thoughts of death. These symptoms can only be diagnosed as a depressed episode if they are not better explained by grief, effects of a drug, or a medical condition. The person experiencing these symptoms must, also report an interference in their daily functioning because of the symptoms. Finally, the person’s symptoms do not meet the criteria for a mixed state. The criteria for a mixed episode state that the person must display symptoms of depression and mania every day during at least a 1...

HIV Research Paper Example | Topics and Well Written Essays - 1000 words - 2

HIV - Research Paper Example Theories has been used to try to explain how the virus crossed from animals to human but all of them does not show evidence that indeed HIV originated from animals. For instance, it is believed that the virus crossed as a result of eating monkey meat. The virus is believed to have originated from Africa as monkeys from Asia and South America has not been found with the virus (Worobey et al., 2008). HIV is an epidemic. It has spread so fast in the world and causes a lot of harm in countries. For instance, a lot of money has been put aside to fight the spread of HIV. This affects the country’s economy. On the other hand, HIV is taking dominance to the young and middle aged people in a country. The group that is most productive. With this it is clear that HIV is indeed a problem that needs to be taken care of seriously. The productive age groups of young and middle aged are endangered thus burdening a country with children and elderly who are not in a position to provide for thei r living. This paper will look at HIV as the problem worldwide that needs to be understood well and necessary precaution taken to reduce its spread. The first case of HIV was discovered in early 1980’s in the USA. Gay men displayed symptoms of opportunistic infections like cancer. HIV/AIDS did not come in to the picture but those men seemed to suffer from a common syndrome; their infections resisted treatment. HIV was later discovered. HIV has been spreading fast in the world because of several reasons such as blood transfusion, immigration, use of injectible drugs, unprotected sexual behaviors and transmission of mother to child. With the current globalization, most people are traveling from their countries with the purpose of trade. There is no restriction of migration of people who are infected with the HIV virus. People travel and mingle with other people from different

Pragmatism - Journal Entries Essay Example | Topics and Well Written Essays - 2500 words

Pragmatism - Journal Entries - Essay Example Write down all of your beliefs – theological, religious, moral, political, economic, social, sexual, personal lifestyle – and then separate them into those inherited and those chosen in response to your actual experience and the experience of others". Dutifully, I performed the self-examination exercise and had identified five beliefs which I would like to dissect and scrutinize. These beliefs fall under five of the categories mentioned by McDermott, namely: religious, moral, economic, sexual and personal lifestyle. I chose these beliefs because they have more impact on my personality and on my decision-making processes. On top of my list and the most influential on my personality and perspectives is my religious belief. I am a Muslim. I was born a Muslim. And I will die a Muslim. I inherited the faith from my parents for which I am very thankful for. Secondly, I live by my moral principle of truthfulness. Although honesty is taught and learned at home, I am convinced that this is adopted and practiced as a matter of choice. We’ve learned from experience that speaking the truth earns the good favor of our family and friends. In contract, speaking lies will get us into trouble. Thirdly, I subscribe to the economic system of capitalism. I am a capitalist in mind and heart. I have lived on the rewards of capitalism and have read about the darkness and monotony of communism. Based on my own experiences and the experience of the people in communist, fascist or socialist countries, I chose and will always choose to be a capitalist. Fourthly, my sexual orientation is â€Å"straight†. I believe that every adult person is a reflection of his infant-self, albeit, most of us could hardly find similar traits between the innocent and fresh newborn and the life-veteran adults that we are. Be that as it may, I believe that our sexual orientation is defined from the day that we are born. Hence, my attraction to the opposite sex is an inherited

Acquired Immune Deficiency Syndrome and Living Assignment

Acquired Immune Deficiency Syndrome and Living - Assignment Example There is still no cure for the virus that causes AIDS. However antiretroviral treatments that suppress the HIV virus are available. Some patients have been known to regain strong immune systems as a result of antiretroviral therapy. The therapy not only helps prolong lives but also prevents people infected by the virus from developing AIDS. Celebrities like Rock Hudson, Freddie Mercury, and Arthur Ashe who died of the disease have given a face to it ensuring that it is known to one and all. They have also helped to educate, empower and raise public awareness. Some have funded organizations that financially help AIDS patients. The challenge is to spread awareness of the ways in which the virus is transmitted to prevent the infection. As former US president Bill Clinton remarked: â€Å"new data from 51 countries suggests 70 percent of HIV-related deaths could have been prevented.† Numerous initiatives have been launched to lower prices of life-saving antiretroviral drugs in order to improve access to treatment. Scientists the world over are working overtime to find a cure for the disease. There are a whole host of organizations working to combat the disease, find cures and help and educate those communities that do not have the means to help themselves. Bill Clinton at the world AIDS conference in Melbourne observed, â€Å"The AIDS-free world that so many of you have worked to build is just over the horizon. We just need to step up the pace.†Ã‚  

Micro economic assignment Example | Topics and Well Written Essays - 1500 words

Micro economic - Assignment Example From the Isocost Isoquant analysis graph above, we assume that corn (C) and Oil (O) are utilized in the production of biofuels (B). Therefore, the production function for biofuels will be represented by B= f(C, O). In the graph, the prices of oil and corn have been represented by PO and PC respectively. Figure 2: Equilibrium Price and Quantity in the Market for Corn .High Isocost and Isoquant curves results when the demand of biofuels increases which results in an increase in production levels of biofuels. For the production of biofuels to be effected, corn has to be used. Since, increased biofuels demands imply increased production of biofuels, it is right to say that the demand for corn will also increase significantly. Consequently, the demand that arises from the production of biofuels and that of food consumption would be compromised as depicted in figure 2 with D2 and D1 respectively. The result ripple effect will, therefore, mean that the price of corn will increase thereby le ading to a reduction in the consumption of corn as food. Many people will, therefore, opt for alternatives or substitutes since there will be reduced food availability. An isoquant is a curve that combines factors that are employed in production to arrive at the same output level. The isoquant has no effects in the changes of input prices. Every isoquant shows an output level. Isoquants of Higher levels show high output level (Baumol and Blinder 2011). An isocost line on the other line combines various factors, which are same in cost (Baumol and Blinder 2011). That why it is a straight line. The intercepts represent the amount of units of input which can be employed when it is the only purchased factor in a budget. The slope gives the price. The higher the line means that a higher cost is incurred. Therefore, the increase in prices of corns leads to a movement of the isocost line along the x axis towards the origin. Given a constant budget the quantity of corn can only be reduced. T his will lead to a change in the isocost lines. This will further lead to a rise of isocost line along conventional axis. ii. Analyze how developments in agricultural and conversion technology might influence the impacts identified in Part A (i). To counter the effects caused by increased demand for biofuels, increased conversion technology and agricultural productivity as well as use of Agricultural biotechnology and second generation biofuels would suffice (Zilberman, et al. 2008). Changes in technology are internal or depend on the economic conditions. An economy that opts to move away from inputs that cost much can always adopt technology changes. It is a mechanism that solves the increased cost of input problems. In the situation of increased costs of corn, there can be an adoption of technology to deal with the problem. Changes in technology will lead to reduction of quantity of input that is needed and, therefore, reduce the costs that are involved. The output level will incr ease with the same cost constraint. Therefore, the supply will increase hence the demand will fall (Rubinstein 2006). iii. Analyze the effects of increased competition between participants in the oil market on the impacts identified in Part A (i). In case, there is increased competition in the market of oil ceteris paribus; the prices of oil are bound to fall. If the prices of oil fall, it means that the prices of inputs will drop as oil is the input used in production of biofuels. Therefore, using the same cost allocated for production the

ART Essay Example | Topics and Well Written Essays - 500 words - 27

ART - Essay Example The flower vessel has got a lid or rather covering with the same decorations as those of the pot itself. This cube and the flower pot are placed on the extreme left of the picture. The second cube is placed on a large square of the same colour (light blue). Just like the first cube, this second cube is also placed on the brown wooden floor. Unlike the first cube, this cube is brightly illuminated of the three cubes and is at the central part of the photograph. On top of it are five dolls and a vase of flowers. The flowers are of various colours, ranging from pink to white. The first doll on the left hand side is bigger and taller than the others and looks like that of a middle-aged lady. She has white and pink flowers on her dark hair and she seems to be holding a bunch of flowers on her left hand .The second doll is small and is that of an old lady who appears to be sited down. She has got blue top with white sleeves and a pink dress. Next to this doll is another doll of an old man, maybe the same age with this lady and has got a grey fully grown beard. He is wearing a green top with khaki bright-brown trousers. He is also sited down. Next to these two dolls are two children whose sex is not very clear. The one next to the old man is dressed in purple top and bright-brown trousers as well. The next doll is dressed in pink top and brown trousers. These two appear to be in good moods and they appear like they are hugging and kissing. They are all sited except for the first one who is standing in what appears to be a green mat. At the background is a very clear reflection from the bright lighting and a shadow of this cube, the dolls and the flowers. Next to this is the last cube which is identical to the first one only that it is dimly illuminated and therefore its colour appears a little bit dull. On top is a flower

Irish Ferries Strategic Management Case Study Example | Topics and Well Written Essays - 3000 words

Irish Ferries Strategic Management - Case Study Example 1.4 PESTLE Analysis: Political No adverse legislation in Ireland/ EU. Adverse legislations not expected in future. Possibility of government subsidies to some routes in future. Future legislation in foreign countries could benefit local ferries. The company operates in peaceful zone; threat due to war and conflict is minimal. Inter-country relationships are generally supportive; no major threat expected. Economic Global economic situation is adverse. Effect is less severe in EU; situation could improve in 18 months. This could be an opportunity as users may prefer low cost ferries, which benefits Irish Ferries. The customer segment varies from general industrial cargo to leisure travel; as such, business risk is diversified. Taxation rates are mostly uniform across EU; double taxation avoidance treaty amongst most countries. However, differences exist in VAT rates; can be minimized by setting up a multi-national corporation structure. Interest and exchange rate differences between EU countries (European Central Bank). Social Roll-in roll-out segment promotes the trend of travelling with cars. Consumer attitudes/ opinions and media views positive. Established low cost plus quality brand image; "Best Ferry Company" eight years in a row. Management style/ work culture of the company is professional. Technological The company has invested heavily state-of-the-art vessels. The company provides web-based booking option to leverage sales. Future bridge/ under water tunnel between Ireland England is a threat. Technological advancement in operational aspects can generate more value. Strategic tie-up with partners to enable seamless travel between Ireland and EU. Legal Changes in laws can affect business. However, no adverse laws...It has invested over 500 million (Irish Ferries 2) in new fleet and port facilities, and has the most modern fleet in Europe. The fleet includes the Ulysses (world's largest car ferry), the Dublin Swift (high speed catamaran), the Isle of Inishmore, and the luxurious Oscar Wilde. During 2007, Irish Ferries carried 1.57 million passengers, and 405,000 cars with a total number of 4,289 sailings. For eight years in a row, Irish Ferries has been voted Ireland's "Best Ferry Company". Its motto is "The Low Fares Ferry Company", reflecting its determination to offer customers the very best value ferry fares. Taxation rates are mostly uniform across EU; double taxation avoidance treaty amongst most countries. However, differences exist in VAT rates; can be minimized by setting up a multi-national corporation structure. The company sources services from several suppliers, whose collective bargaining power is not expected to be high. The company also sources high quality shipping equipment and spares from suppliers. Since these equipments (and especially spares) can be sourced only from limited sources, suppliers would posses some bargaining power. The overall bargaining power of suppliers is Medium-Low. The customers are not organized in groups, and are not expected to have strong col

Micro economic assignment Example | Topics and Well Written Essays - 1500 words

Micro economic - Assignment Example From the Isocost Isoquant analysis graph above, we assume that corn (C) and Oil (O) are utilized in the production of biofuels (B). Therefore, the production function for biofuels will be represented by B= f(C, O). In the graph, the prices of oil and corn have been represented by PO and PC respectively. Figure 2: Equilibrium Price and Quantity in the Market for Corn .High Isocost and Isoquant curves results when the demand of biofuels increases which results in an increase in production levels of biofuels. For the production of biofuels to be effected, corn has to be used. Since, increased biofuels demands imply increased production of biofuels, it is right to say that the demand for corn will also increase significantly. Consequently, the demand that arises from the production of biofuels and that of food consumption would be compromised as depicted in figure 2 with D2 and D1 respectively. The result ripple effect will, therefore, mean that the price of corn will increase thereby le ading to a reduction in the consumption of corn as food. Many people will, therefore, opt for alternatives or substitutes since there will be reduced food availability. An isoquant is a curve that combines factors that are employed in production to arrive at the same output level. The isoquant has no effects in the changes of input prices. Every isoquant shows an output level. Isoquants of Higher levels show high output level (Baumol and Blinder 2011). An isocost line on the other line combines various factors, which are same in cost (Baumol and Blinder 2011). That why it is a straight line. The intercepts represent the amount of units of input which can be employed when it is the only purchased factor in a budget. The slope gives the price. The higher the line means that a higher cost is incurred. Therefore, the increase in prices of corns leads to a movement of the isocost line along the x axis towards the origin. Given a constant budget the quantity of corn can only be reduced. T his will lead to a change in the isocost lines. This will further lead to a rise of isocost line along conventional axis. ii. Analyze how developments in agricultural and conversion technology might influence the impacts identified in Part A (i). To counter the effects caused by increased demand for biofuels, increased conversion technology and agricultural productivity as well as use of Agricultural biotechnology and second generation biofuels would suffice (Zilberman, et al. 2008). Changes in technology are internal or depend on the economic conditions. An economy that opts to move away from inputs that cost much can always adopt technology changes. It is a mechanism that solves the increased cost of input problems. In the situation of increased costs of corn, there can be an adoption of technology to deal with the problem. Changes in technology will lead to reduction of quantity of input that is needed and, therefore, reduce the costs that are involved. The output level will incr ease with the same cost constraint. Therefore, the supply will increase hence the demand will fall (Rubinstein 2006). iii. Analyze the effects of increased competition between participants in the oil market on the impacts identified in Part A (i). In case, there is increased competition in the market of oil ceteris paribus; the prices of oil are bound to fall. If the prices of oil fall, it means that the prices of inputs will drop as oil is the input used in production of biofuels. Therefore, using the same cost allocated for production the

Irish Ferries Strategic Management Case Study Example | Topics and Well Written Essays - 3000 words

Irish Ferries Strategic Management - Case Study Example 1.4 PESTLE Analysis: Political No adverse legislation in Ireland/ EU. Adverse legislations not expected in future. Possibility of government subsidies to some routes in future. Future legislation in foreign countries could benefit local ferries. The company operates in peaceful zone; threat due to war and conflict is minimal. Inter-country relationships are generally supportive; no major threat expected. Economic Global economic situation is adverse. Effect is less severe in EU; situation could improve in 18 months. This could be an opportunity as users may prefer low cost ferries, which benefits Irish Ferries. The customer segment varies from general industrial cargo to leisure travel; as such, business risk is diversified. Taxation rates are mostly uniform across EU; double taxation avoidance treaty amongst most countries. However, differences exist in VAT rates; can be minimized by setting up a multi-national corporation structure. Interest and exchange rate differences between EU countries (European Central Bank). Social Roll-in roll-out segment promotes the trend of travelling with cars. Consumer attitudes/ opinions and media views positive. Established low cost plus quality brand image; "Best Ferry Company" eight years in a row. Management style/ work culture of the company is professional. Technological The company has invested heavily state-of-the-art vessels. The company provides web-based booking option to leverage sales. Future bridge/ under water tunnel between Ireland England is a threat. Technological advancement in operational aspects can generate more value. Strategic tie-up with partners to enable seamless travel between Ireland and EU. Legal Changes in laws can affect business. However, no adverse laws...It has invested over 500 million (Irish Ferries 2) in new fleet and port facilities, and has the most modern fleet in Europe. The fleet includes the Ulysses (world's largest car ferry), the Dublin Swift (high speed catamaran), the Isle of Inishmore, and the luxurious Oscar Wilde. During 2007, Irish Ferries carried 1.57 million passengers, and 405,000 cars with a total number of 4,289 sailings. For eight years in a row, Irish Ferries has been voted Ireland's "Best Ferry Company". Its motto is "The Low Fares Ferry Company", reflecting its determination to offer customers the very best value ferry fares. Taxation rates are mostly uniform across EU; double taxation avoidance treaty amongst most countries. However, differences exist in VAT rates; can be minimized by setting up a multi-national corporation structure. The company sources services from several suppliers, whose collective bargaining power is not expected to be high. The company also sources high quality shipping equipment and spares from suppliers. Since these equipments (and especially spares) can be sourced only from limited sources, suppliers would posses some bargaining power. The overall bargaining power of suppliers is Medium-Low. The customers are not organized in groups, and are not expected to have strong col

Advice to a Friend on Choosing a Mistress Essay Example for Free

Advice to a Friend on Choosing a Mistress Essay In his message, Franklin advises his friend that marriage is the best solution not for only sexual desires but also the undisputable source of solid happiness. Having suspicions that his friend would not follow his guidance, Franklin recommends him to choose older mistresses instead of younger ones and lists eight valuables reasons to better support his argument. Franklin commences his essay by presenting advantages of the marriage. He says I know of no medicine fit to diminish the violent inclinations you mention Marriage is the proper remedy. It is most natural state of man and therefore the state in which you can are most likely to find solid happiness. Through those sentences, Franklin seems to estimate that from a masculine view, one of the main advantages of the marriage is to bring pacification toward requirements of the flesh. The recipient of the letter who was the friend of the author seemed to be looking for a situation in which he could find sexual partner and happiness without commitment. Based on the previous quotes, the author claims that the best situation in which he could find hat he was looking for was a marriage. In his letter, Franklin advices his friend to settle because It is the man and woman together that make the complete human being. If Franklin thinks that the marriage is so positive, this is relied to both psychological and socio-economical reasons. First all he is convinced that the married life is more balancing that the single lifetime. Franklin believes that a man who did not find the soul mate is in other words incomplete, unaccomplished by saying that A single man has not nearly the value he would have in that sate of union, He is an ncomplete animal. He resembles the odd half of a pair of scissors. Based on this judgement, Franklin means that family life calms people; it is the natural arrangement in which they can organize their production strength with the most possible benefit. While Franklin affirms that together there are more likely to succeed in the world there is no doubt that he is referring to the material success. Concerning the woman, it is only in a marriage that she can show up her real values. Through the letter, Franklin continues to give worthy reasons in order to convince the ecipient about getting married. Franklin having doubts that his friend would not consider his advice followed his representation of the marriage by an alternative solution to satisfy his needs. If his friend his not ready to commit and wants to continue a commerce with Sex inevitable, he suggested that you should prefer old woman to young ones. The first raison that Franklin used to support his case is that they nave more knowledge ot the world, and their minds are better stored witn observations, their conversation is more improving and more lastingly agreeable. By affirming this, Franklin makes an allusion to the intelligence of older woman. He illustrates that people gain knowledge as they get older. They have, in principle knew more love stories or adventures than youngest ones, thus they better know men, know how to take care of them and also how to satisfy them. Franklin defends the idea that a debate with an old woman is rich and interesting, because they had been through many involvements from witch they had retains acquaintance. They have lived longer and have things to communicate to you. Franklin also supports his reference for older woman by saying that To maintain their influence over men, they supply the diminution of beauty by an augmentation of utility. This is to illustrate that older woman, with the time spend less time worrying about their appearance, which they use to do more important stuff. To him, when beauty disappears, women improve their service. At their age, they assume their femininity and do so without any complex. Franklin, who was a man of science and also know as Lady Man also gave bodily motivation for choosing an older woman. He implies that ? because in every animal that walks upright the deficiency of the fluids that fill the muscles appears first in the highest part. The face first grows lank and wrinkled; then the neck; then the breast and arms; the lower parts continuing to the last as plump as ever: so that covering all above with a basket, and regarding only what is below the girdle, it is impossible of two women to tell an old one from a young one. His purpose here is to assure his friend that there are no doubts or fear to have on the corporal pleasure of an old woman. According to him as in the dark all cats are rey, the pleasure of corporal enjoyment with an old woman is at least equal, and frequently superior. This is to support that woman are woman regardless of age, an old woman can perform the same way as a young one concerning sexual experience. Sometimes, they are even considered superior. Through the note, Franklin by saying because there is no hazard of children, which irregularly produced may be attended with much inconvenience refers to the fact that woman at a certain age cant get pregnant. Thus while dating them the chance of being relied to them by omeone or something is null. This also makes the separation easier and leaves out others inconvenient that children can bring in a relationship. Across the letter, Franklin continues to encourage his friend to choose an old female if this last one persist in thinking a Commerce with the ser. He establishes a formal and highly analytical tone with his receiver about the discretion an old mistress can have in their relationship. He supports his suggestion by affirming that because through more experience they are more prudent and discreet in conducting an intrigue to revent suspicion. The commerce with them is therefore safer with regard to your reputation. From the following sentence, the author suggests that with an old woman, it is less probable that the relationship get revealed consequently with her you reputation will be at the shelter because they are more responsible in managing a relationship and they now what they want. Finally, Franklin ends up with his letter by saying they are so grateful. Even thoug h Franklin, in his letter gave an approved receipt to find the best mistress, it is obvious that considering as the ounding father his interest for marriage respond to others concern more important than the promotion ot the psych-to-emotional blooming.

History And Evolution Of Sitcoms

History And Evolution Of Sitcoms In the field of entertainment, everybody could use a good laugh and this is where the comedy genre comes in. As the name states, its purpose is to bring humor and laughter to the audience. Comedies come in many formats in movies and television. In television, one of the most common genre is the situation comedy or sitcom, for short. As the name states the plot is centered on a particular situation set in a typical setting such as a home or workplace. A situation comedy features a regular cast of characters plus recurring ones who would appear in subsequent episodes as well as special guest stars. There are sitcoms that are aired performed before a live studio audience, making it similar to a theatrical play. One can tell it is live whenever a special guest star would appear as the audience would cheer enthusiastically. Another distinctive feature of the sitcom is the laugh track or what is called canned laughter which is played every time a hilarious scene unfolds. What makes sitcoms different from stand up comedy and sketch comedy is that they have a storyline and this essentially makes it a comedic drama; and as mentioned before, the setting is usually centered on family, workplace, or a group of friends as the principal characters or mainstays. Sitcoms came about when the television was introduced and this enabled audiences to return to a certain program if they like it. As a result of this (initial) trend, the performers who have key roles would become mainstays and the situations would remain the same to enable audiences to be familiar with them. Even animated shows, also adapt the sitcom format to cater to a specific audience as well, not merely children. Another feature of the sitcom is that it is often character driven and naturally, running gags often develop during a series or season. The plot of a sitcom episode is typical: It starts with the status quo where everything is normal among the characters and then, a disruption will occur, thereby affecting the usual situation and the relationships of the characters, but by the end of the episode, these issues will be settled, the situation will revert to the status quo and it is alls well that ends well until the next episode where the it will happen all over again but in a different plot. History and Evolution: Throughout its history, sitcoms over the years have evolved not only in the performers but also in the plot as well as how humor is delivered. In the early years of sitcom, the most common method of delivery is the slapstick approach of the 1950s and well into the 1960s. The slapstick is characterized by exaggerated violence where the characters appear to be hitting one another with exaggerated sound effects without getting hurt. This is common is earlier comedies such as The Three Stooges. Slapstick also features characters doing unthinkable or crazy stunts or acts or silly things in the scene to the point of making complete fools of themselves. One of the most popular sitcoms of the period was I Love Lucy starring the real-life couple of Lucille Ball and Desi Arnaz. This sitcom is one of those that features the slapstick delivery. One example is a scene in one episode where Lucy works in a chocolate factory. The chocolates are being churned out so fast that Lucy had to eat those that could not be packaged. In another episode, Lucy was mashing grapes in a winery and wrestled with another worker in the vat, making a mess out of themselves (Oppenheimer, 4-5). As for the setting, it centers on a typical couple, Lucy and Ricky (Arnaz) Ricardo. What makes the story interesting is that Lucy is not content in being a plain housewife while her husband works as a bandmaster in a club. Lucy aspires to have a career and this is the source of the humor. Besides these madcap adventures and misadventures, there is also the relationship with their neighbors Fred and Ethel who play the straight couple to their seemingly dysfunctional one to provide balance. Essentially, women would be portrayed as scatterbrained but extremely clever, men would be indignant (like Ricky), and friends or neighbors would be unwitting pawns, accomplices or villians (such as Fred and Ethel). Besides the typical family setting, early sitcoms offer different settings but with similar plots such as Sergeant Bilko, which looks at the humorous side of the military; Car 54 Where Are You? for the police officers and McHales Navy in the US Navy set during World War II to boot. The 1960s added a fantasy touch with sitcoms like I Dream of Jeannie and Bewitched. This was made possible with advancements in the realm of special effects which enabled these magic tricks to be performed. In addition, 1960s sitcoms deviated from the earlier ones in the sense that they were not filmed before live audiences but were filmed instead where the sessions are called tapings. The 1970s and 1980s saw a change in the character makeup of the sitcoms as evidenced by such shows as The Jeffersons, Different Strokes, Barney Miller and Chico and the Man where nonwhites began to share top billing as well yet the plot remains the same. This underscored by the real-world events happening the changes America has been going through by way of racial integration and that nonwhites were not regarded as equals to whites. This is what these shows intend to convey besides providing laughter (Dalton and Linder 125-126; Hamamoto 87, 90-91). In terms of delivery, studio audiences became the norm again on shows that were not filmed in several locations and several factors have to be taken into consideration such budget (Dalton and Linder 49-50). There were also changes in the composition of the characters or how they are shown in the show. It is no longer the typical family. The show would center on the kids or teens such as Facts of Life and Charles in Charge which deals prima rily with issues teenagers usually face. Besides race, feminism got into the act with shows such as Rhoda and The Mary Tyler Moore Show as women took lead roles in sitcoms as well. The 1990s saw a continued surge of similar shows such as Murphy Brown and Just Shoot Me. There were even instances when some shows would challenge morals at the time such as MarriedWith Children which features a dysfunctional family, an introduction to the genre commonly known as transgression comedy. One other noticeable feature of sitcoms starting in the 1970s was the evolution of the delivery. Slapstick was no longer used at this point in time. Rather, the producers and the performers make use of the current situations they are in, whether they are personal, affecting only them or the social situation that affects them entirely. In other words, they poke fun at their problems without having to do crazy stunts or exaggerated violence reminiscent of The Three Stooges. The 1990s saw the emergence of sitcoms in animation followed the lead of live shows such as The Simpsons which is still enjoying a following to this day, and later South Park (Dalton and Linder 270-271). This trend would go on well into the 21st century with similar shows coming out such as The Office and 30 Rock which still follow the same trend. Furthermore, sitcoms have also broken down into categories according to age groups. Disney Channel offers sitcoms for children and teenagers such as Thats so Raven, Hannah Montana and Corey in the House. Naturally, the shows centers on the younger characters with the adults in the supporting role but the plot is nonetheless similar to the mainstream sitcoms (Dalton and Linder 44-45). Analysis: By the 21st century, the trend in the entertainment industry is leaning toward reality-TV shows which feature non-actors and single-camera recordings. The reason for this increasing popularity is that the participants are not actors and the audience can easily relate to them as the cameras capture every moment of their life and they are seen in their best and their worst and there are no cuts and takes, the camera continues rolling. It is as real as it gets and all the elements or genres are there from action, drama and even comedy without the canned laughter. It is said that these shows will replace mainstream programming which would affect soap operas and sitcoms. But this does not mean sitcoms will fade into oblivion or give up without a fight. In the latter shows, for instance, The Office, 30 Rock and even The Drew Carey Show make use of an element called the pathos. Where the shows make the viewers sympathize with the characters, and relate to them on a level unlike any other show (Graham 1). Old sitcoms never had this pathos. The problems facing the characters in the show are similar problems the audience faces on a regular basis in real life (Graham 1). In addition, this pathos need not be exaggerated like in slapstick. It is shown in a plain simple way similar to what real people go through every day. The characters, especially the main ones, are depicted as the everyman or average Joe. In the case of the three sitcoms, they reflect the joys, trials and tribulations the average (American) employee goes through in their daily routine. Nothing is exaggerated and the issues they face are real since real people experience them too. Matthew G ilbert puts it nicely At their best these single hand held sitcoms are an uplifting art form, one that has come of age in the past 20 years. They can invent a unique comic lexicon, invite us to laugh at our failings, capture the brilliance of our imaginations, and satirize our culture, they can reflect, clarify, and normalize human nature(Gilbert 1). Even animated sitcoms like The Simpsons and South Park show that as well this is why such animated series also appeal to adults, breaking the notion that they are only for children. Shows like Arrested Development and The Office are amongst some of a growing number of sitcoms that look different and are produced differently from sitcoms in the past. Eric Berlin states on the changing sitcom This new genre combines oddball characters, stress on improv acting, cinematic look, expert single-camera production work, and inventive use of flashbacks, private one on one confessions with the camera and quick cut-aways. The writing is daring, smart, and resembles the everyday awkward encounters that humans experience(Berlin 3). Shows like The Office and Arrested Development have been appropriately termed by author Brett Mills as the televisual style called comedy verite(Thompson 63). What comedy verità © is doing through its distinctive televisual style is shift the source of humor in the television comedy from the constructed joke, as seen in prior sitcoms, to the observation of a comic event (Thompson 67). Thompson states The observational component of these sitcoms, w hich includes not just what they look like but also the timing of shots and the sense that at times we observe events in real time, creates a different type of engagement with the narrative. The sitcom is thus reinvigorated by a shift from the tired realm of the staged sitcom, with its three cameras, studio audience, or one-camera, coverage shooting, to an experience of observation or witness(Thompson 67). A big part of these new comedy verite style sitcoms is how they convey the observational mode that the viewer is caught in, primarily through handheld shooting and a pacing that suggests particular segments unfold in real time as if their viewer were there (Thompson 68). However these segments and scenes are increasingly taking place in intimate settings, including shots conveying a particular characters subjectivity and vulnerability, and are less marked by characters performing for the camera, a fly on the wall type of perspective (Thompson 68). This production style that is new to the Sitcom tries to convey to the viewer that they are not watching comedy but are observing the comedic acts that unfold before the ever present handheld camera. Whether the acting is improvised or carefully scripted, it looks like it just happened and thats the whole point (Thompson 71). As a mode of production, this new developed sub genre of the sitcom is addressing comedy like never before and is effective in the use of presenting what is truly funny to viewers. Furthermore, what makes sitcoms better than reality TV is, as mentioned earlier, these shows do not only try to make the audience relate to the character as far as pathos is concerned, but being a comedy, it encourages the audience to laugh off their problems as well. Furthermore, unlike reality shows, it is the characters that are laughed at, not the people themselves. Because of this, this is what will make sitcoms last longer and keep on entertaining people.

We Must Reform Teacher Tenure Essay -- How Not to Reform Teacher Tenur

Teacher tenure is life-long job protection for teachers who have been employed as a teacher for one or more years depending on the state. The purpose of teacher tenure is to protect teachers from being fired for political or personal reasons. It also prevents school districts from eliminating experienced teachers in favor of less expensive teachers. The fundamental problem with teacher tenure is that it is given to a teacher after only one year on the job and requires little to no additional effort. The increased job security breeds complacency in many teachers who are teaching only to collect a paycheck. There is a need for teacher tenure but the program must be drastically reformed. What is Tenure? Tenure is a policy that basically gives teachers a lifetime contract. It prevents teachers from being fired for something small all the way up to severe misconduct or incompetence. . Tenure began in the early 20th century. It was meant to protect teachers from wrongful termination. In that time race, personal bias, and politics could get even very effective teachers fired. Women were often targeted when they got married or became pregnant. With tenure, even if a school district tries to fire an incompetent teacher or one who is guilty of misconduct it can become very difficult and expensive It also protected teachers whose research or teaching practices might be considered â€Å"out-of-the-box.† The Positive Side of Teacher Tenure Tenure is in place to protect teachers. Many teachers are very dedicated to what they do and go above and beyond what is required regardless of their pay scale; tenure is in place to protect teachers like this. Teachers that have proven that they are in the classroom to make a difference in the life of a... ...1D719E1C22E61225AFDEB326CE13C0_1328848465905&start=1&publicationId=&urn=urn%3Abigchalk%3AUS%3BBCLib%3Bdocument%3B198818676 Garrett, Rose (2010). What is Teacher Tenure? Retrieved from http://www.education.com/magazine/article/what-is-teacher-tenure/ Sawchuk, Stephen (2010). States Strive to Overhaul Teacher Tenure. Retrieved from www.edweek.org Otterman, Sharon (2011). Once Nearly 100%, Teacher Tenure Rate Drops to 58% as Rules Tighten, New York Times, 28 July, 2011. Retrieved from http://search.proquest.com.southuniversity.libproxy.edmc.edu/docview/879455669/fulltext?accountid=13931 Weisberg, D., Sexton, S., Mulhern, J., Keeling, D., (2007). The Widget Effect. Retrieved from http://widgeteffect.org/downloads/TheWidgetEffect.pdf Wolpert-Gawron, Heather (2009). The Truth about Teacher Tenure. Retrieved from http://www.edutopia.org/teacher-tenure-debate

Medicine in the Fight against HIV/AIDS and Cancer :: Medical Treatment Chinese Papers

Medicine in the Fight against HIV/AIDS and Cancer Conventional (allopathic) medicine has been the mainstream Western approach to medicine ever since the early twentieth century. Previous to the widespread popularization of the allopathic tradition, other more holistic traditions of medicine were accepted and practiced without bias. The founding of the American Medical Association (AMA) brought with it a swift turnabout for other traditions and placed the monopoly of the industry solely in the hands of allopathic physicians. However many of the procedures and techniques for dealing with illness in conventional medicine are invasive and involve the introduction of severe and even toxic agents and many people are now expressing a desire to return to more natural means of fighting disease. The use of alternative medicine is becoming increasingly popular in the Western world, although patients are hesitant to inform their allopathic physicians of this use. The prevalence of HIV/AIDS and Cancer cases is growing in leaps daily and these diseases even represent the leading causes of mortality in some countries. Conventional medicine is undoubtedly not always able to successfully treat many of these cases but it has been suggested that a combination of allopathic and alternative therapy would increase success rates by providing the optimal treatment of illness, as in the treatment of HIV/AIDS and Cancer. Western culture should endeavor to explore alternative practices instead of brushing aside what it does not understand. There are many different forms of alternative medicine, some of which are centuries old. The term 'alternative medicine' covers the broad category of unconventional forms of medicine, many of which are not accepted by the allopathic tradition due to their inability to be evaluated under the scientific method and their consequent lack of empiricality, both of which have strong bases in the Western tradition. The systems that fall under alternative medicine are Chinese Medicine, Ayurveda, Naturopathic Medicine, Homeopathy, Osteopathic Medicine, Chiropractic, Massage Therapy and Bodywork, and Mind/Body Medicine. Five of these treatments will be discussed in their general approaches to illness as a demonstration of alternative models of medicine. Chinese Medicine is an ancient form of alternative medicine, dating back over 3000 years. The key principle of this tradition is the belief in an unseen entity called chi, which symbolizes the vital life force energy inherent in all things. Chi flows through the human body in pathways known as meridians, which enable the passage of this energizing force through all the organs of the body.

School Finance Paper

Connie Findley University of Phoenix June 14, 2010 School Finance Issue Paper There is a popular myth that government sponsored public education is cost free to students, families and teachers (Darden, 2007). The economic crisis has resulted in a wave of reduced funding sources for school districts around the country. As state and city budgets have been slashed, the consequences for districts are dire (Trainor, 2010). Debates about how to improve public education in America often focus on whether government should spend more on education.Federal and state policy makers proposing new education programs often base their arguments on the need to provide more resources to improve opportunities for students (Lips at el. , 2008). The increasing number of budget cuts have left teachers, administrators, families footing the bill for classroom materials. The challenge has become to provide essential school supplies and classroom materials despite millions in budget cuts. Many districts has ra ised dozen of school fees for various students activities and added many items to school supply lists every year (Dyrli, 2008).In recent years there has been a great interest in the effect of school resources on academic achievement ( Froese, 1997). Answering whether spending more on public education improves academic achievement begins with establishing how much the United States spends on education. In 2007, the federal government spent $71. 7 billion on elementary and secondary education programs. These funds were spent by 13 federal departments ad multiple agencies. The Department of Education spent $39. 2 billion on K-12 education.The largest programs in the Department of Educations budget were education for the disadvantaged and special education (Lips at el. , 2008). The monies dedicated to states from the federal government is earmarked for certain programs. Allotted monies for school resources do not always equate to materials for classroom instruction. Many people believe that lack of funding is a problem in public education, but historical trends show that American spending on public education is at an all-time high (Lips at el. , 2008). Acknowledging that education excellence cost money, the vast majority of school districts have a tough time keeping pace.Schools are tempting to use several solutions to combat the budget crisis. Schools are collecting fees from parents, they can pretend not to notice as teachers quietly bear the expenses as an act of caring, or solicit or accept dollars that come from third-party sources (Darden, 2007). Academic researchers have sought to answer the question of whether education expenditures are correlated with student performance. However, there is a lack of consistent evidence on whether education expenditures are related to academic achievement.Despite the lack of consistent finding, leading researchers in the area acknowledge that any effect of per-pupil expenditures on academic outcomes depends on how money is spent, not how much money is spent (Lips at. el. , 2008). Existing evidence indicates that the typical school system today do not use resources well at least if promoting students achievement is the purpose. The high and increasing percentage of funding is allocated to non-classroom expenditures is evidence of the need to improve resource allocation in the nation’s public schools.According to the National Center for Public Education Statistics, only fifty two percent of public education expenditures are spent on instruction. This percentage has slowly been decreasing over recent decades (Lips at. el. , 2008). One problem school districts are facing is shrinking enrollment. These school districts are left with vacant buildings and hundreds of thousands of dollars tied up in desk, chairs, office supplies and equipment, computers and textbooks that may eventually find their way to the dump.At the same time, districts in growing communities struggle to accommodate an enrollment expansion with limited funding, facilities and equipment. Administrators may be forced to purchase and temporary classrooms (Trainor, 2010). One of the major areas that school administrators are focusing on is technology in the classroom. While many teachers are bearing the cost of glue, paper, pencils and other classroom materials essential for achievement, school officials are providing funding for instructional computer programs to help increase reading and math achievement.While purchasing new computers is not always an option many school districts are finding ways to provide computers without overspending. In an effort to reduce cost, some school technology leaders have formed groups to negotiate pricing with firms selling refurbished computers. Because every computer in a school setting does not need the most sophisticated capabilities, refurbished models provide access as well as word processing and other basic programs at an affordable price (Trainor, 2010). Providing update d and current textbooks is another recurring cost that school systems face.There is a large used textbook market which has existed for decades. Districts around the country regularly sell retired textbooks. Sometimes school systems replace relatively new textbooks because of a change in curriculum requirements (Trainor, 2010). School systems are wasting money of textbooks each year due to purchasing books that are already retired or by purchasing an older edition of a textbook. Teachers are using creative ways to supplement curriculums and information not found in textbooks but are required by the state to teach.School districts need a willingness to explore the possibilities of learning about the other three Rs: reduce, reuse and recycle (Trainor, 2010). When budgets are tight, district administrators must sometimes choose between supplies and other needs. To help bridge the gap, many teachers are buying more material than ever for their classrooms. The most recent study by the Nat ional School Supply and Equipment Association found that in the 2005-2006 school year, teachers spent and average of $552 on school supplies and instructional material (Dyrli, 2008).Some school systems have found themselves in court over the idea of providing a free education while asking parents to pay for school activities. In April 2006, the Indiana Supreme Court struck down Evansville-Vanderburgh School Districts $20 school activity fee, saying it was the equivalent of tuition charge and therefore violated the state constitution. The money was used to pay for music, drama, nurses, school counselors, alternative education and other needs. This fee was an attempt by this school system to balance the budget (Darden, 2010).One of the perks that teachers could look forward to during tax season is the tax credit offered to teachers. California Public School teachers in 2004 found out right before school started that they would no longer be able to deduct the cost of school supplies fr om their taxes. California cancelled its Teachers Retention Tax Credit, hoping to save about $400 million over two years (Vail, 2004). Nationally, teachers have similar, though much lower tax program for supplies. Most school districts have classroom budgets for such expenses, but teachers frequently dip into their own pockets to supplement the budget.The general public does not understand how much teachers spend out of their own pockets just to be able to do their jobs, but they do it because it’s the best for the students and they want the students to learn, achieve and be successful (Vail, 2004). Tax payers have invested considerable resources in the nation’s public schools. However, increasing funding if education has not led to similarly improved student performance (Lips at. e. , 2008). School systems across the country are now looking for ways to supplement their restricted and strained budgets.Many are looking at purchasing refurbished computers, recycled class room materials, charging fees to parents and adding more supplies to back-to-school list. While these efforts are not in vain they are only a starting point. School district are going to have to solicit funding from private corporations, form partnerships with business in community and find raise to help supplement declining funds. What does this mean for students and teachers? Teachers continue to purchase classroom materials essential to help students master core goals.Students are having to adjust to larger classrooms, sharing materials and equipment while goals and standards continue to rise. Teachers will have to bear the burden to meet federal mandates while working with less than adequate supplies. These barriers will force teacher and parents to provide creative alternatives for learning and building stronger relationships with each other in order to provide students with more learning opportunities.Reference Darden, E. (May, 2007). School law show me the money. American Sch ool Board Journal, 44-45. Dyrli, K. (2008). School supplies on a budget. World Wide Web. htp://www. DistrictAdministraton. com. Froese, V. (1997). The relationship of school materials and resources to reading literacy: An international perspective. University of British Columbia, Vancouver, Canada. Lips, D. , Watkins, S. , and Fleming, J. (2008). Does spending more on education improve academic achievement? Backgrounder: The Heritage Foundation of America, 2179. Trainor, C. (2010). The other three rs. American School Board Journal, 50-51. Vail, K. (2004). Tax credit for school supplies? Maybe not. American School Board Journal, 8.

Banking Concepts and Practices

XITE, Gamharia Banking Concepts & Practice [Paper 11: Elective II, Academic Session 2011-12] 1. Evolution of Banking: Bank-Meaning, Definition, Features & Classification, Concept of Different Types of Banking System, Overview of Indian Banking System 2. Commercial Bank: Basic Concept of Commercial bank, Role of Commercial bank in Financial System, Credit Control by Central Bank 3. Central Bank: Meaning, Functions, Methods of Credit Control 4. Monetary Policy: Meaning, Objectives and Instruments 5. Customer Relationship: Definition, Features of Contractual Customer Relation, Customer Orientation, Retail Banking 6. E-Banking: Concept, ATM, Core Banking, Virtual Banking, Electronic Payment System Reference Books: 1. Banking Law and Practice- P. N. Varshney 2. Indian Banking- P. Parameswaran & S. Natarajan 3. Money, Banking & International Trade- M. C. Vaish 4. Banking Concepts & Practices- Shekhar & Shekhar 5. Banking Concepts & Practices- Canon Notes prepared by: Fr. Alex Mascarenhas SJ, Loyola Nivas, H-15, St Mile Road, Sakchi, Jamshedpur 831 001 INDEX | | |EVOLUTION OF BANKING |NEGOTIABLE INSTRUMENT | |MEANING OF BANKING |BILL OF EXCHANGE | |CLASSIFICATION OF BANKS |PROMISSORY NOTE | |SYSTEMS OF BANKING |CHEQUE | | |CROSSING & ENDORSEMENT | |INDIAN BANKING: PROFILE | | |INDIGENOUS SYSTEM |BANKING PRACTICE | |MODERN FINANCIAL SYSTEMS |BANK ACCOUNTS | |CHANGING PROFILE |TIME DEPOSITS | |CHALLENGES AHEAD |LOANS & ADVANCES | | |CHARGE CREATION | |COMMERCIAL BANK |TYPES OF SECURITIES | |FEATURES |BILLS COLLECTION | |ROLE IN FINANCIAL SYSTEM |PAYING BANK | |MULTIPLE CREDIT CREATION |COLLECTING BANK | | |GRIVANCE REDRESSAL | |CENTRAL BANK | | |CONCEPT & MEANING RETAIL BANKING | |FUNCTIONS | | |RESERVE BANK OF INDIA |BANKING SERVICES | |NEW TRENDS IN CENTRAL BANKING | | | |ANCILLARY SERVICES | |MONETARY POLICY | | |MEANING |E-BANKING | |OBJECTIVES | | |INSTRUMENTS |CONCEPT EVOLUTION | |TYPES OF MONETARY POLICIES |CORE BANKING | |RBI MONETARY POLICY |VIRTUAL BANKING | |LIMITATIONS |E-PAYMENTS | | |MERITS & DEMERITS | |CUSTOMER RELATION | | |MEANING |APPENDIX | |NATURE OF RELATIONSHIP |MUTUAL FUNDS | |FEATURES |BANK NATIONALIZATION | |CUSTOMER ORIENTATION | | EVOLUTION OF BANKING A. MEANING OF BANKING: Banking was first associated only with the lending activity. The idea of accepting deposits from the public in order to lend it to others on credit developed much later. Modern banks have gone way beyond traditional banking and have added fee based financial as well as ancillary services to banking which are very much within the limits of their expertise. A1. DEFINITION: Dictionary gives multiple meanings of a BANK- †¢ It is a heap or storage of goods. †¢ It is the shallow edge of the sea. †¢ It is the raised edge of a river or a road. †¢ It is a blockage of sandbags to a flow of water. Though none of these explanations speak directly about financial dealings, all of them give a common meaning that it is a sort of CUSHION provided to PROTECT something. Hence, there can be a grain bank, a blood bank, a sperm bank, a question bank, a river bank, money bank, etc. The exact origin of the word bank is not certain. Some trace its origin to German word ‘Banck’ which means heap or mound, others trace it to Italian word ‘Banco’ which means heap of money while some others trace it to the French word ‘Banque’ which means a bench for keeping things. Jewish bankers and money changers transacted their business of lending and exchanging money on benches in the marketplace in Lombardy and so the bench became the banking counter. Bible has a reference to money changers who were transacting business on their benches inside the Jewish temple and Jesus throws their benches and scatters them. If a banker failed by losing all his money, his bench was broken up by the people which gave birth to the word ‘bankrupt’ Monetary banks derive their meaning from all the above concepts. They provide facility to the customers to ‘store’ their wealth and give ‘protection’ to it and in the mean time they lend it to others to ‘gain’ some returns. †¢ According to Kent, â€Å"bank is an organization whose principal operations are concerned with the accumulation of the temporarily idle money of the general public for the purpose of advancing to others for expenditure. †¢ According to Crowther, â€Å"bank is one that collects money from those who have it to spare or who are saving it out of their incomes and lends the money so collected to those who require it. † †¢ According to Hart, â€Å"banker is one who in the ordinary course of business honors cheques drawn upon him by persons from and for whom he receives money on current accounts. † †¢ According to John Paget, â€Å"no person or body corporate otherwise can be a banker who does not take deposit, does not take current accounts, does not issue and pay cheques and does not collect cheques for his customers. † All these definitions have described the meaning of a bank but have not given a precise definition. Banking Regulation Act of 1949 u/s 5(1) has given the meaning of banking as follows- â€Å"Banking means accepting for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque. † Hence, bank in the technical sense can be defined as â€Å"an institution that accepts refundable deposits for lending or investing. † The concept of offering fee based services has no direct connection to traditional banking; it evolved much later due to the financial expertise available with the banks. A2. HISTORY OF BANKING: The concept of banking is as old as the authentic history of humanity. ANCIENT WORLD: The system was started by the Babylonians before 2000 BC. The practice of granting credit was widely prevalent in ancient Greece and Rome. Credit by compensation and by transfer orders is traced to Assyria, Phoenicia and Egypt even before its development in Greece and Rome. EUROPE: Many European countries established public banks either for facilitating commerce or to serve the government. Begun as an office for transfer of public debt, The Bank of Venice [1157] is the most ancient bank. The Bank of Amsterdam was established in 1609 to meet the needs of the merchants of the city. It accepted all kinds of specie deposits to be withdrawn or transferred to another account later using a certificate valid for six months. These written orders in the course of time got transformed into modern day cheques. ENGLAND: English banking began with the London Goldsmiths who accepted customer’s valuables for safe custody and issued ‘payable to bearer’ receipts which in course of time enjoyed considerable circulation. Actual growth of private commercial banking began with the establishment of Bank of England in 1694. INDIA: The first reference to banking in India is found in the book ‘Arthashastra’ by Chanakya in the year 300 BC. He mentions about guilds of merchant bankers who received deposits and advanced loans. The traditional indigenous bankers and money lenders were active in India since time immemorial. The first bank in today’s understanding to be established in India was Bank of Hindustan in 1770. Unfortunately it failed subsequently. Presidency Bank established in 1806 which then became Imperial Bank and finally State Bank of India is the first successful bank in India. Co-operative credit banks started playing significant role since II world war. A3. FEATURES OF A BANK: Features of a bank are the services they offer to their customers. Traditional banks have just two features: accepting deposits and lending money on credit. Modern banks have introduced a third feature of fee based services. A3a. DEPOSITS are basically of two types- Demand deposits & Time Deposits. Demand deposits are in the form of running accounts like Savings Bank A/c, NRE A/c, Current A/c and Overdraft A/c depositing or withdrawing money without any advance notice. On Savings Bank A/c and NRE a/c banks offer interest on the balance amount where as for an overdraft a/c they charge interest on the money overdrawn. Current A/c and the credit balance in Overdraft A/c fetch no interest to the account holders. All these accounts will have cheque book and passbook facility. Now one can do banking transactions from the comforts of ones own office or room or while traveling even without entering the bank premises, pay bills anywhere and anytime and draw cash from ATM day and night and even during holidays through e-banking. Time deposits are always accepted to mature on a due date. Banks give interest on time deposit. Longer time deposits usually [but not necessarily] fetch higher interest. All banks allow pre-maturity withdrawals of time deposits and give whatever interest is applicable for the duration the deposit was with the bank with or without a penalty interest for pre-maturity withdrawal. A3b. CREDITS can be further sub-grouped duration-wise or security-wise: Duration-wise credits can be short term for less than a year or medium term for one to three years or long term for beyond three years. Banks usually prefer short term credits as they give better liquidity. Long term credits are usually given for capital requirements. Customers are charged interest on credit which is little higher than the interest banks give on deposit. Security-wise credit may be secured, partially secured or clean. When credit is given against a collateral tradable security of at least equal value it is termed as secured credit. If the securities offered against the credit do not cover the credit amount completely then it is partially secured credit. If personal guarantees are offered instead of any tradable securities, it is a clean credit. Banks usually prefer secured credit to ensure the capital safety. A3c. FEE BASED SERVICES may or may not be linked directly to banking activities. These features are unique to commercial banks and are on offer because of the expertise they have and also because their primary aim is profit. Cooperative banks usually do not offer such services except cheque book and bill collection facility. Some of the fee based services offered by them are- Financial Services are those involving money through the customer’s accounts like Cheque, Bill Pay, Bill Collection, Debit Card, Fund Transfer, etc. Free availability of sufficient funds in the account is pre-condition for these services. †¢ Utility Services are those financial services which are provided by the bank to th e general public even without having an account in the bank like Foreign exchange, Bank Pay Order, Bank Drafts, Traveler Cheque, etc. Funds and the bank charges have to be provided at the time of availing these services. †¢ Agency/Fiduciary Services are those services in which the bank acts like an agent/trustee on behalf of its customers like Letter of Credit, Bank Guarantee, Originator/ Underwriter of Capital Issues, Safe Deposit Locker, Safe Custody, etc. Investment Services are those agency services where bank guides the customers in making investments outside the bank for higher returns like D-Mat A/c, Brokerage and Advisory Service. B. CLASSIFICATION OF BANKS: There are various types of banks depending on the purposes of their businesses. But such a classification may or may not be exclusive since some overlapping is always possible- B1. COMMERCIAL BANKS by their very name mean business and so perform all kinds of banking functions such as accepting deposits, advancing cr edits, offering fee based ancillary services including foreign exchange and foreign currency remittances. They are organized in the manner of joint stock companies. Their main aim is to maximize profit from their banking business. Hence, they have expanded their network through branches wherever there is a possibility of better banking business. In many developing countries like India, commercial banks are obliged to contribute to the economic growth of the country through various regulations of the regulatory authorities. These banks may be govt. owned, public sector or private sector or even foreign banks. Private sector and foreign banks vie with each other in providing personalized services in order to expand business. B2. FOREIGN EXCHANGE BANKS are specialized in foreign exchange and financing foreign trade in addition to the normal banking services. They also offer other information collecting services to their customers on foreign trade prospects, foreign agents, and foreign collaborators and provide foreign currency remittance facilities. Foreign exchange banks usually have their head offices outside the country. Their branch network is usually bare minimum; restricted only to big urban centers with great potential for foreign exchange business. B3. INDUSTRIAL BANKS are also known as development banks and are specialized in providing long term loans to industries for the purchase of assets. They are usually not into ordinary banking services; they basically underwrite shares and debentures of industries and also subscribe to them. Some of the industrial banks are- Industrial Finance Corporation of India-IFCI, Industrial Development bank of India-IDBI, Industrial Credit & Investment Corporation of India-ICICI [now merged with ICICI Bank Ltd. ] and Small Industries Development Bank of India-SIDBI. These are more of finance companies set up by government than banks. B4. AGRICULTURAL BANKS like State Cooperative Banks-SCB, District Central Cooperative Banks-DCCB, State Cooperative Agricultural & Rural Development Banks-SCARDB, Primary Cooperative Agricultural & Rural Development Banks-PCARDB and Regional Rural Banks-RRB provide all types of agricultural credits to the farmers for their short term, medium term and long term agricultural needs. They also offer limited ordinary banking services that are required by the farmers. Land Development Bank of India-LDBI gives long term loans on mortgage of agricultural land and National Bank of Agriculture & Rural Development-NABARD gives refinance to other institutions which give direct agricultural loans to the farmers. Both these banks do not provide retail banking services. B5. COOPERATIVE BANKS work on the principle of cooperation among a group of shareholding members usually confined to a small geographical locality and the purpose of their cooperation. Their activities are largely restricted to their own members. They do not come under the strict regulatory controls of Central Bank since they are separately covered under Cooperative Societies Act. But they do have regulatory norms to satisfy, though not of the same level as that of the commercial banks. Cooperative banks are basically of two types- Urban Cooperative Banks that cater to the needs of urban population and †¢ Rural Cooperative Banks which cater to the needs of the rural population. B6. SAV INGS BANKS promote small savings and mobilization of resources. They may not lend on credit; they may invest the entire sum to produce returns enough to pay good interest to their deposit holders. They are very successful in Japan, Germany and India. Post Office Savings Bank, Employee Provident Fund and Public Provident Fund are some examples of Savings Banks. B7. INVESTMENT BANKS are financial organizations which assist business houses to raise funds for their long term capital requirements from the market hrough the sale of their shares and bonds. Hence, they certainly conduct other ordinary banking business in order to collect funds for their business. These banks act basically as middlemen or agents. They function in two ways- †¢ Originator- They act as originators of the capital issue by bringing out the new issue and managing it until the shares are finally allotted for a fee for the services provided by them. They have nothing to do with the gain or loss of the capital i ssue which goes directly to the company. †¢ Underwriter- They under-write the entire capital issue for a mutually agreed price and re-issue the shares to the public for the market price. The entire gain or loss made in the process is the gain or loss of the bank and not of the issuing company. Commercial Banks are also eager to provide investment banking facilities since these are basically wholesale banking activities with definite sources of large gain in a short span of time with or without committing one’s own funds. B8. MERCHANT BANK is a loosely used term. Some merchant banks may neither be a merchant nor a bank. Merchant banks mainly deal with corporate financial advice such as share issue, capital re-construction, mergers and acquisitions. Merchant banks also accept deposits and are involved both in money market operations and foreign exchange dealings. They also manage funds on behalf of their clients. B9. CENTRAL BANK is not a commercial bank; it is the apex bank of a country which controls nation’s monetary and banking structures, like Reserve Bank of India. It is owned by the central government in most of the countries but not necessarily always. For example, in USA it is owned collectively by the member banks. Central banks work in the national interest in developing the nation’s economy. Central bank does not deal with ordinary banking activities. It issues and regulates currency, provides banking services only to the central government, the state governments and the member banks, keeps cash reserves of the member banks, holds gold reserves of the country and nation’s forex reserves, acts as clearing house and acts as a lender of last resort. C. SYSTEMS OF BANKING: There is no uniform system in commercial banking. They have evolved based on the needs of a particular place. Philosophically there are two banking systems- Capital based Western Banking System and Service based Islamic Banking System. Islamic banking system is the only banking system in the world that is totally fee based and does not pay or give interest. Islamic banks collect fees for all the services offered by them since giving or receiving interest is against the Islamic Law- Shariat. Most commercial banks follow capital based banking systems: they accept deposits from the public at lower interest rate and give out credit on higher interest. The difference in interest rate is their profit which is gained by from their capital. They also charge a fee for all the value added services rendered by them. In practical sense we come across three major western banking systems worldwide- C1. GROUP BANKING is commonly found in USA. It is a federal system favored mostly by banks in USA. Under this system, a group of banks come under a centralized management of a holding company may or may not be affiliated to a larger bank or any government controlled agency. Holding company exerts control over all the subsidiary banks though each subsidiary bank maintains its own distinctive identity. The group may also include non banking financial corporations. In some cases instead of a holding company, individuals or a group of individuals take the control over administration of the member banks through ownership of their stocks. Such a system is known as CHAIN BANKING. For all practical purposes, both mean the same except for their ownership pattern. MERITS- 1. Parent bank pools the resources and helps the member banks. 2. Large credits more than a member’s capital can be handled through consortium basis. 3. CRR, SLR and capital requirement is centrally maintained by the parent bank. 4. Parent bank provides service on research, legal matters and investments, reducing individual member bank’s cost. DEMERITS- 1. It is a step towards monopoly, not healthy from economic point of view. 2. Decline in business of one member in the group affects the entire group. 3. If the parent body is not a bank, it may divert funds to further its own interest. C2. UNIT BANKING system is an individualistic system also favored largely in USA. In this system each bank is a centralized unit without branches; it may have service centers like ATM at multiple convenient places or even a few branches within a strictly limited area. All functions of the bank are performed at one centralized place. For remittances they are linked through correspondent banks. MERITS- 1. Every type of banking service is available under one umbrella 2. It is competitive and highly efficient. It can take prompt decisions. 3. Continuity in personal relation helps in customer care. 4. Even unique local needs are addressed by this system. DEMERITS- 1. Being localized, it can not spread risk and its resources are limited. 2. They can not diversify services, can not have large scale operations 3. Mobilization of funds is limited to their own area and so fear of failure exists. 4. They have to depend upon their correspondent bank for remittances, increasing cost. 5. Very difficult to run unit banking in rural areas since rural resources are limited. C3. BRANCH BANKING system is followed almost universally. In this system banks will have their head office at one place and branches at multiple convenient places. Each branch functions like any other full fledged bank and yet is fully controlled by the head office. They even have specialized branches to take care of specific requirements of customers, like NRI branch, SSI branch etc. This is very convenient to the customers. In some branches even the weekly holiday is changed to suit the people of the area. MERITS- 1. This system can spread risk, diversify services, can have large scale operations. 2. It can have specialized branches for exclusive purposes. 3. They can move cash reserve from less required branch to more required branch. 4. Remittance through branch system is easy, cheap and efficient. 5. Brings uniformity in the functioning supported by centralized system. 6. There will be an efficient head office control and less fear of failure due to its size. DEMERITS- 1. Centralization of command delays decision making process. 2. Every branch may not be in a position to offer all banking services 3. Administration tends to be bureaucratic, sticking to the rules at the cost of the need. 4. More the branches, difficult will be monitoring and supervision 5. Unique local needs may not be well taken care of From the above analysis we can safely conclude that branch banking system is the best system and so is favored world over. NOTE: State Bank of India is planning to bring itself and its subsidiary banks with all their branches under one Holding Bank which will be like a Central Bank with full policy control over its member banks and yet with administrative freedom given to each of the member bank to maintain their unique identity. This will also be a group banking system with an important change that the holding company is a bank whose majority stake is held by the government. Hence, this system is going to combine the advantages of all the three systems discussed above. INDIAN BANKING: PROFILE In India, ancient scripts as old as ‘Manu Smriti’ deal with regulations on credit like- credit instruments, judicial proceedings on credits, renewal of commercial papers, interest on loans, etc. Chanakya’s Arthashastra refers to accepting deposits for lending. This was mainly money lending where as the modern concept of banking came to India with the colonial rulers. Though Chanakya’s Arthashastra speaks both about deposit and credit, it is basically money lending. INDIAN BANKING SYSTEM – AN OVERVIEW v v v INDIGENOUS SYSTEM BANKING SYSTEM NBFI v v v Indig. Banker Money Lender. ____ _v______ DFI NFFC MF. v Cooperative Scheduled v v Rural, Urban, LTCCS Coop Commercial v v v SCB, DCCB, PACS SCARDB, PCARDB Public, Private, Foreign, RRB v Nationalized Banks, SBI, SBI Group A. INDIGENOUS SYSTEM is the oldest system of banking in India. It is basically a business for profit controlled by a few upper caste communities. Hence, it got degenerated into highly exploitative system against the lower castes and accepted by the masses out of helplessness. A1. INDIGENOUS BANKERS are individuals or firms who lend money against securities- hundis, promissory notes and legal bonds which state the amount of loan, due date, rate of interest and penalty interest beyond due date. They may or may not accept deposits from the public. It is a monopoly of certain castes among Multanis and Marwaris, in the West, Gujratis and Bengalis in the East and Chettis and Brahmins in the South. The interest rates of these bankers range from 6% to 150% depending on the nature of the security. Many of them have trading interests and control the marketing of the borrower’s products. They operate mainly in big trading centers with their offices and branches. A2. MONEY LENDERS are individuals usually from Mahajan, Sowcar and Pathan communities. They do not accept deposits and their methods of business are not uniform. Others with surplus funds too are involved in money lending occasionally. Money lenders usually lend small amounts on personal security without any written agreement with prohibitive interest ranging from 75% to 300%, invariably quoted and collected on a monthly basis. They operate mainly among peasants and urban labor class. The lenders in both these categories are not interested in increasing productivity through credit. They are not even bothered about the principal amount as long as the interest keeps coming on time. Most of their credit goes for non-productive consumption activities. They are willing to give fresh credit to pay off the old credit with interest as it enhances their earning. There are enough cases where illiterates get cheated by them. Money lending now requires a govt. license and has a cap on interest rates. In spite of such restrictions, money lending business it still continues illegally among the low income groups because of easy access, absence of paper work and familiarity with the lenders. B. NON BANKING FIN. INSTITUTIONS or NBFI consist of development finance institutions, non-banking finance companies and mutual funds governed under SEBI. They do not come under direct RBI control like the commercial banks. B1. DEVELOPMENT FINANCE INSTITUTIONS: established by the central government for specific priority sector developmental activities. They are EXIM Bank, NABARD, NHB & SIDBI. EXIM Bank derives its name from Export-Import and its main activity is direct lending by way of long term loans and investments in export and import activities. †¢ NABARD is abbreviation for National Bank for Agriculture & Rural Development and is involved in refinancing banks and non banking financial institutions for agricultur al and rural developmental activities. †¢ NHB stands for National Housing Bank refinancing banks and non banking finance institutions on housing credits. †¢ SIDBI is short form for Small Industries Development Bank of India and it extends refinance to banks and non banking finance institutions for small scale industries. B2. NON-BANKING FINANCE COMPANIES: come under the regulations and supervision of RBI since 1998 but not under the II schedule like the scheduled banks. They are private or public limited companies and are allowed by RBI to accept deposits and offer 1% higher interest than the banks. They give credit only for the specific activities for which they are established like- equipment leasing companies, hire purchase finance companies, investment companies, loan companies, housing finance companies, etc. B3. MUTUAL FUNDS: are trusts that accept funds from the investors and redeploy them both in equity market as well as non-equity securities in a pre-determined pattern made available to the investor in advance and fully share the accrued profits with the investors after deducting their legitimate expenses. Hence, gain from mutual funds depends on the types of securities purchased by them. Broadly speaking there are three types of Mutual Funds. Equity Funds invest at least 65% of their funds in various equities and may give superlative returns or make one lose one’s own money depending on the market situation. Debt Funds invest in non equity securities and give low but steady returns. Balanced Funds are combination of both equity & debt funds. For a detailed discussion on Mutual Funds please see appendix at the end. C. BANKING SYSTEM consists of both cooperative and scheduled banks. C1. COOPERATIVE BANKS received momentum after the 2nd World War. They are formed by the cooperation of any group under the Co-op Societies Act. Such groups are largely localized and the success depends on their own expertise. Urban Co-op Banks catering to the needs of the urban population and Rural Co-op Banks such as State Co-op Banks and District Central Co-op Banks catering to the needs of the rural population fall in this category. Co-op Banks are not listed under the second schedule of RBI Act, 1934 but they come under RBI supervision separately. They are required to allocate 40% of their credit to the priority sector of the government like any other commercial bank, work within the jurisdiction of their state and are primarily into short term credit to its members. They are allowed to offer cheque book facility and interest 1% higher than commercial banks on deposits, but they do not offer all the banking and other ancillary facilities of a full fledged bank. All co-op banks/ credit societies have to be registered under Cooperative Societies Act of the respective states. They work on the basis of cooperation and can be established by any group of people by forming a co-op society and subscribing for their shares. The main difference between a co-op bank and a co-op credit society is that the former can receive deposit from general public and give cheque book facility but give credit only to the members where as the latter provides its services and benefits only to its members. Besides these, there are also Primary Agricultural Credit Societies, Primary Cooperative Agriculture & Rural Development Banks and State Cooperative Agriculture & Rural Development Banks in the cooperative sector. Cooperative banking structure, particularly the rural sector cooperative banking is quite complex in India. It can be broadly classified as follows- Urban Cooperative Banks alone have a single tier structure catering to all types of needs of the urban population through their branches in major cities spread all over the state, just like any other bank. Rural Cooperative Banks have three tier structures of delivery- State Cooperative Bank at the Apex level, District Central Cooperative Bank at the Intermediary level and Primary Agricultural Credit Societies at the Base level. Long Term Cooperative Credit Societies usually have two tier system- Primary Cooperative Agriculture & Rural Development Banks at the base level and State Cooperative Agriculture & Rural Development Banks at the state level. Some states have unitary system with State level banks working through their own branches and some other states have a mixture of both systems. C2. SCHEDULED BANKS are those which are registered as joint stock companies under Indian Companies Act and are also listed under 2nd schedule of the RBI Act, 1934. They are licensed by RBI to have branches all over India or even abroad and perform all banking activities including foreign exchange. They are required to lend 40% of their credit to the priority sectors of the government. They directly come under RBI regulations and supervision. RBI control over the scheduled banks is so efficient that we do not have any example where a scheduled bank has ever applied for liquidation since the inception of RBI. Scheduled banks are basically of two types- a. SCHEDULED COOPERATIVE BANKS are those cooperative banks with a large capital base and listed under the 2nd schedule of RBI Act of 1934. They can offer all banking facilities just like any other commercial bank. b. SCHEDULED COMMERCIAL BANKS are those private or public limited joint stock companies listed under the 2nd schedule of RBI Act of. They are further classified into 4 groups: Public Sector Banks, Private Sector Banks, Foreign Banks and Regional Rural Banks. b1. PUBLIC SECTOR BANKS are public limited companies whose majority shares are held by the government. Hence, their board of directors is fully controlled by the govt. and they come directly under govt. regulations. They are further classified into State Bank of India, Subsidiary Banks of SBI and Nationalized Banks. †¢ STATE BANK OF INDIA: The East India Company established three banks- Presidency Bank of Bengal in 1809, Presidency Bank of Bombay in 1840 and Presidency Bank of Madras in 1843 as bankers to the respective Presidency Governments. In 1921 they were amalgamated into Imperial Bank of India which also functioned as the central bank till RBI was formed in 1935. In 1955 it was nationalized and re-named as State Bank of India, popularly known as SBI. It also acts as the banker to the government wherever RBI does not have its offices. †¢ SUBSIDIARY BANKS OF SBI or SBI Group was formed by SBI with majority shareholding in them. State Banks of Saurashtra / Indore have merged with SBI in 2008 & 2010 respectively. State Banks of Mysore / Travancore / Hyderabad / Patiala / Bikaner & Jaipur are in the process of merger. SBI European Bank is their foreign subsidiary bank. †¢ NATIONALIZED BANKS: 14 commercial banks were nationalized in 1969. They are- Allahabad Bank, Bank of India, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, United Commercial Bank, United Bank of India and Union Bank of India. 6 more were nationalized in 1980. They are Andhra Bank, Corporation Bank, New Bank of India, Oriental Bank of Commerce, Punjab & Sind Bank and Vijaya Bank. b2. PRVIATE SECTOR BANKS do not have any govt. stake in their share holdings. Most of them are owned and controlled by business groups and follow aggressive corporate culture in their functioning to maximize their profits. The promotion prospects of their employees are directly linked to the business they promote unlike in public sector. Hence, they are far ahead of public sector banks in value added services, customer care and at the same time they also charge a host of hidden costs unlike the public sector banks. b3. FOREIGN BANKS are those banks whose head offices are located outside India and are allowed to do banking business under certain conditions. Prominent among them is lending 32% of their credit to the priority sector including export credit. Financing foreign trade remains their main business in India. They can fulfill their priority sector lending requirement by lending to priority sector export business and investing in priority sector government financial institutions. b4. REGIONAL RURAL BANKS were created to provide institutional credit and other facilities to the small and marginal farmers, agricultural laborers, artisans and small entrepreneurs in rural areas under 20 point Economic Program of the central government. 19 such banks were established in 1976, one in each state. They were given a jurisdiction to work, freedom to have branches or agencies within their jurisdiction and were put under the sponsorship of a nationalized bank. Ownership pattern of the capital was 35% with sponsor bank, 50% with the central govt. and 15% with the state govt. D. CHANGING PROFILE: Indian economic policy has been founded on the philosophy of economic growth and social justice. Indian banking sector has undergone a dynamic change over the years based on the needs of its economy. Most important among them are- REACH- The branch network of Indian banking system in so extensive, it covers almost all remote corners of India. It is one of the largest networks in the wo rld. †¢ DEVT- The diversification and development of our economy and its rapid growth is all because of our banking system’s credit to various priority sectors. These achievements have become a reality because of the changing profile of our banking system over the years. We shall discuss the major changes in the profile as under- D1. CHANGE IN SECURITY ORIENTATION: Traditionally personal creditworthiness of the borrower mattered a lot for any credit to be released. It meant, safety of the credit alone mattered for the banks and this safety came from the wealth the customers possessed. It effectively meant that only moneyed people could borrow from the bank. Now, banks have now changed their orientation from safety to purpose. Credit is now made available to make them creditworthy. Hence, technical competence of the borrower, operational flexibility and economic viability of the project has become more important than the security offered by the borrower. D2. CHANGE IN REGIONAL IMBALANCES: Private Banks opened their branches in urban locations because of the business potential. As a result Rural India remained unconnected by the banks. For example, pre-nationalization of banks there were only 12555 branches of banks in the entire country and they were located mainly in the urban centers. Post nationalization of banks number of branches has rapidly risen and as of Mar-09 it stands at 82408 branches. It is important to note that over 49% of these branches are now in the rural areas. It gives evidence that banking network has now spread uniformly to cover the entire nation without rural-urban bias. D3. CHANGE IN BANKING HABIT: As a natural corollary to the development in the field of branch banking, development of baking habits in India have grown at an unparalleled pace. Banks have successfully induced the customers to save a part of their earning in banks for the future. Some banks even sent their agents door to door to collect the savings. This helped the banks to diversify their lending portfolio considerably. If the deposits & advances counted for 13% & 10% of GDP respectively in 1969 they shot up to a whopping 50% & 25% respectively in 2002. D4. CHANGE IN BANKERS ATTITUDE: A welcome change is the change in the attitude of the bankers. Earlier lending had a wholesale character coupled with the security of the credit. This attitude of the bankers made the banking facilities almost the exclusive prerogative of the elite classes. With the branches reaching the rural areas banking went retail and for the ordinary masses. Grant of credit no more became a matter of privilege; it became available for genuine production need based purely on technical norms. D5. CHANGE IN BANKING PRODUCTS: As the focus got shifted from wholesale to retail banking, private banks in particular came up with novel products to suit the needs of the retail customers, like- home loan, auto loan, credit card, etc. Pigmy deposit introduced by Syndicate Bank and imitated by others in its various forms for example aimed at pooling idle money and inculcate saving habits among people. Banks sent their agents door to door to collect the deposit money on a daily basis and without setting a minimum. Bank deposits grew substantially because of this scheme. Such innovative products were considered a tough proposition earlier by the banks due to the volume of operations involved. Now, computerization of banking system has removed this difficulty. Some of the banks have started offering even auto FD where amounts above a pre set limit gets converted automatically into FD to fetch higher interest and gets redeemed automatically when cheques are presented and the account runs short of balance. D6. CHANGE IN MODE OF BANKING: When the banking system was manually operated, almost all services were time consuming except depositing money into the account in the base branch where the account is maintained. Computerization of banking has made service faster; the entire country is made to appear like one branch and even the necessity to go to the bank during banking hours for transactions is becoming redundant. Cash can be drawn from ATM anytime, even during holidays and bills can be paid directly to the account from one’s own office. D7. CHANGE IN NON-BANKING ACTIVITIES: Many banks have diversified their activities beyond traditional banking activities like equipment leasing, hire purchase financing and factoring [acting as agents for the customers. ] A major step in this direction is the merger of ICICI with ICICI Bank D8. CHANGE IN APPROACH TO CREDIT: As a corollary to the shift from security orientation to purpose orientation, bank’s approach to credit also changed from lending to development in the recent past. Banks started lending for the purpose of industrial development, providing access to capital market and long term savings of the economy. They even started specialized branches to cater to the specific needs of the customers, like- NRI Branch, Overseas Branch, SSI Branch, Recovery Branch, etc. D9. CHANGE IN CUSTOMER SERVICE: Private Banks started giving more focus to customer care in order to win more business. They even gave free collection and delivery facilities to HNI customers. To cope with the increasing banking habit, RBI too came up with a Banking Ombudsman scheme to redress the customers’ complaints. E. CHALLENGES AHEAD: Banks have sacrificed some qualitative aspects of growth while expanding the banking system to achieve development and increase its reach. Prudent regulations have no doubt helped to ensure systemic stability, but enhanced efficiency would necessitate institutional changes in the internal functioning of the banks in the following fields- E1. ORGANISATIONAL STRUCTURE: Centralized structures work wonders under uniform conditions. As the banks diversify their business into the field of agriculture, rural development and other priority sectors they have to deal with different types of customers who need different kind of treatment. They can not afford to force the standard sophisticated practices on all the customers uniformly. For example, to finance rural development it is very much essential that banks evolve simple and meaningful procedures to the comfort of the rural folks. The most common complaint against banks is the under-financing and non-availability of timely credit to meet the borrowers’ need based requirements. Hence, banks must revamp their organizational structures by delegating power, decentralizing control and monitoring performance. E2. EXCELLENCE IN MANAGEMENT: Quality of management is another challenge in the face of fast expansion. Here are ten critical characteristics of a good bank management- 1. An open culture and extensive vertical and horizontal communication, 2. Strong shared values, 3. Profit performance as a value, 4. Customer focused business orientation, 5. Willingness to invest in new products, 6. Strong sense of direction and consistent leadership, 7. Commitment to recruit best persons, 8. Investment in training, 9. Product information system and 10. Strong credit risk management. E3. CORPORATE GOVERNANCE: There are instances where the boards have shown reluctance to ratify and adopt RBI circulated covenants on professinalization of bank boards. Corporate governance can not be enforced through regulations, it must spring from within. E4. EMPLOYEE COMPETENCY: Together with the change in organizational structure there is a need to increase employee competency also. When new entrants into the market like Mutual Funds are cutting into the business of the banks, contemporary banking is becoming more and more skill sensitive and information technology is throwing new challenges to the banking systems, employee competency has become all the more important to retain the existing business of the banks and expand it. E5. APPROPRIATE TECHNOLOGY: Well established banks are facing stiff competition from the new entrant banks in terms of use of appropriate technology that makes banking convenient. The established banks do use modern technology but are way behind in maintaining pace and are challenged by these new entrants in order to remain in business. E6. NONPERFORMING ASSETS: These are popularly known as NPA, the loans that do not perform- loans under litigation or bad loans that are doubtful of recovery. 6. 2% of loans of scheduled commercial banks were NPA and the public sector banks had to write off 42. 5% of the NPA as on 31. 3. 2002. It reflects on the quality of the loan portfolio. At 5% NPA, 17 out of 21 major banks in Japan were on the red. As per developed country standards it has to be around 2%. Hence, banks have to bring down the NPA ratio drastically. E7. DIRECTED CREDIT: NPA as discussed above is a direct result of the quality of the loan portfolio of the banks. The system of directed credit to priority sector has no doubt brought impressive performance in quantitative terms but qualitatively it has brought more loan delinquencies since the relation between credit expansion and productivity has become weak. Political interference in credit decision-making is pointed out as a factor. The populist phenomenon of ‘loan mela’ is certainly contrary to the professional appraisal of bank credit needs. What is required to improve the quality of loan is- 1. Serious appraisal of credit need, 2. Potential productive activity and 3. Effective post credit supervision. E8. RISK MANAGEMENT: Risk is intrinsic to any business; all the more to banking. Risks encountered by banks have increased with the diversity of banking business and growing sophistication of banking operations. The major risks encountered by banks are credit risk, interest rate risk, operational risk, forex risk and liquidity risk. While deregulation has opened up new vistas for banks to shore up more revenue, it has entailed greater competition and greater risks too. Hence, greater attention needs to be iven in strengthening of internal controls of risk management. E9. SICK INDUSTRIAL UNITS: Funds locked up in industrial sickness has reached a staggering 2% of the entire credit of the banking system in March 2000. When sick units have to be nursed for ‘social objectives’ banks should not be forced to suffer; actual stakeholders must bear the burden of nursing them. When sick units are nationalized for protecting the employment or they are public sector entities, govt. must give adequate compensation to the banks to cover their dues which rarely happens in reality. It is neither legitimate nor practical for the banks to nurse sick units in all circumstances. E10. PROFIT PLANNING: Banking can not run like other profit making business since excessive and unjustified profits can only be at the cost of development of the society so far as the lending rates push up the production cost and ultimately is passed on to the customer. At the same time strong operating profits allow for allocations to capital and reserves which are very much essential for any bank to maintain its competitive viability. This setback was realized in the 90’s when the nationalized banks posted declining profits. Nevertheless, concerted efforts by these banks improved the situation by 2002. Stiff competition makes the banks to work on thin interest rate margins but to increase their profitability, they have to increase their fee based non-fund services substantially. E11. CUSTOMER SERVICE: Though entry of new private banks no doubt has increased the quality of customer service, it is by and large confined to urban areas and to wealthy customers. Only the educated and wealthy customers have access to detailed information on all the banking facilities available. Customer care is very much wanting in public sector banks where the unionized employees are sure of not losing their jobs on this count. Efforts must be made to collect customer feedback on regular basis and remedy the defects pointed out if any, at the earliest wherever possible. E12. GLOBAL STANDARDS: Computerization has revolutionized in banking in India. But it has not yet made much progress in expanding it beyond the ational boundaries. Not many branches of Indian banks are found outside India. Just like its progress in Information Technology and software, India has to make good progress in the banking sector internationally since allocation of capital can not be bound by geographical bound aries. COMMERCIAL BANK A. FEATURES: Commercial banks are private or public limited joint stock banking companies registered under Indian Companies Act. There are three distinct features of a commercial bank- they accept DEPOSITS on lower cost and give CREDIT on higher cost and the cost difference between deposit and credit is their GAIN. [For more details refer features of a bank] Its capacity to earn profits depends on its investment policy which in turn depends on the manner in which it manages its investment portfolio. Portfolio management refers to prudent management of a bank’s profit, liquidity and safety. But most commercial banks have gone way ahead of their basic functions introducing a host of fee based ancillary financial services in order to maximize their profits. Thus a commercial bank now may be defined as â€Å"an institution that accepts deposits from the public on lower cost and lends it on credit on higher cost as well as offers ancillary services for a fee in order to increase its profits. † B. ROLE IN FINANCIAL SYSTEM: Commercial banks strive to earn a profit. At the same time their entire business of credit depends on public money deposited with them. Hence, they can not afford to risk public money just to increase their own profits. It is common knowledge that national level bank strikes throttle the lifeline of the nation’s economy and inflict heavy losses on the GDP. The significance of banks’ role in the financial system must be understood in the words of Walter Leaf, who says â€Å"The banker is the universal arbiter of the world’s economy† Commercial banks have to play a major role in three distinct areas- †¢ Providing fiscal liquidity to the financial system, †¢ Giving capital protection to the economy and †¢ Speeding up economic growth of the nation. B1. FISCAL LIQUIDITY: By fiscal liquidity we mean the capacity to produce cash on demand. The most important role of any bank is to provide liquidity to the financial system. Banks pool around idle money in small pockets through their wide spread branches into a large capital and redeploy it wherever needed. For better management of credit, banks like to have as much funds in liquid as possible while maximization of gain is possible only by deploying maximum available funds on credit. Both are important for the bank. Hence, bank has to strike an effective balance between them so that neither its profitability suffers nor the liquidity of the market is affected. Liquidity of the assets of the bank is planned in three stages- a. CASH is the most liquid asset. But it is an idle asset earning no returns for the bank. Yet certain percent of deposits must be always kept in reserve with the Central Bank in addition to cash in hand to meet immediate withdrawal of deposit. This is known as Cash Reserve Ratio or CRR. It is decided by the Central Bank. b. CALL MONEY is the investment in Money Market, Bond Market and Reverse Repo. # Money Market securities include short term securities like Certificate of Deposit [CD] of banks, Commercial Papers [CP] of companies, treasury bills of the govt. which give stable but low returns and long term govt. securities whose yield depend on the interest scenario. Bond Market securities include Medium Term as well as Long Term bonds of any banks or companies tradable in the secondary bond market. They are bought and sold at discount or premium and hence, their yield also depends on interest scenario. # Reverse Repo is the system through which RBI borrows from commercial banks to abs orb excess liquidity at lower interest rate. These funds are made available to commercial banks through bills repurchase under repo system on a little higher interest. These securities are the next best liquid assets but the returns from these securities are low. But it is important to select only those securities which give a fairly stable return. These securities can easily be liquidated in the Market with short notice. RBI prescribes a Statutory Liquidity Ratio or SLR for banks by which banks have to maintain certain percent of their deposits as liquid assets. c. CREDIT and investments give maximum gain to the bank but they are the least liquid. Hence, these assets should be created only in required proportion, never as a priority. Among them, short term credits are preferred by banks over long term credits for the sake of liquidity. B2. CAPITAL SAFETY: Commercial banks strive to earn profit. But this must be done through prudent ways without risking the deposits of their customers. They have an important role to play in the capital protection. Hence, 1. Protection of deposits must be the top priority for the banks. Deposit Insurance and Credit Guarantee Corporation set up by the govt. gives guarantee only up to Rupees one lakh per customer in case a bank fails and has to be closed down. 2. Banks must avoid investing in equity related instruments or giving loan for speculative business since equity market weakens capital safety to a large extent. This is required to increase stability of the capital. 3. Banks have to use self restraint in their credit to other volatile businesses like real estate, film industry, etc. Similarly they must be extra cautious while accepting volatile securities as surety for credit. 4. Banks must restrict long term credits and investments to a small percent since capital safety in short term credits is higher than the long term credits. 5. Before giving clean loans, banks must have a thorough reality check on the creditworthiness of the borrowers to repay the loan on time. 6. Banks must maintain a fair margin between their interest rates on deposits and credits. B3. ECONOMIC GROWTH: Banks have a greater role to play in the economic growth of the nation through economic development of all the sectors. Hence, they must provide more credit to developmental and productive activities than non-productive or consumption oriented activities. Basically there are three types of developmental activities- Large capital based corporate activities, medium or small capital based priority sector activities and export activity. a. CORPORATE SECTOR- While funding developmental activities, banks find it easy to provide credit to large capital based profit making corporates in industry & trade since timely repayment of credit received by them with interest is almost guaranteed. Funding is required not only for corporates but also for other sectors like industry, trade, service, infrastructure, transport, housing, power, finance, technology, etc and the banks can not overlook one sector at the expense of the other. Besides, corporate sector companies also have the capacity to increase its capital base or raise funds from the open market by issuing their own bonds. In other words they do not depend heavily on banks for their capital requirements where as others heavily depend on banks. Hence, banks must use their prudence while deciding percentages for corporate credit. Large capital companies, particularly industry contribute to the economic growth of the nation not only by increasing production but also by increasing job opportunities. But their main drawback is that they are basically profit oriented and development is a byproduct of their activity. They are reluctant to venture into non-profit sectors that are essential for a balanced growth of economy. b. PRIORITY SECTOR- For all-round and real development there are certain priority sectors of the nation that require funding assistance by the banks. They are- infrastructure development like housing, rail and road construction, power, transport, etc. as well as small scale industry, trade, technology, agriculture, etc. From the profit perspective these priority sectors may not be always lucrative. It will not be always easy for these sectors either to increase their capital or borrow from open market; they depend heavily on banks for their capital requirements. RBI has mandated 40% of the total credit of all cooperative & scheduled banks and 32% for foreign banks towards priority sector lending. Banks are allowed to invest in special bonds or investment instruments of these sectors to meet these requirements. c. AGRICULTURE SECTOR is surely a super priority sector. It must attract special attention of the banks since self sufficiency in agriculture has to be a top priority of any nation. Agricultural production is commercially unprofitable at least in Indian context. Small and medium farmers produce just enough to sustain since their personal labor in agricultural production gets them no returns. Any other production can wait, not food; it has to be produced proportional to the population irrespective of the cost. For the same reason, governments are providing subsidy and refinance facilities for agriculture. Banks must ensure that the government benefits really reach the medium and small farmers. d. EXPORT SECTOR is not an exclusive sector like corporate or priority sector. It can pervade both corporate as well as priority sectors. Economies of the world are so interdependent that each country must have enough reserves in the currencies of other countries to pay the bills for supplies received from those countries. In its absence they end up in raising foreign debt which in turn has a cost by way of interest; or else they end up in depleting nation’s gold reserves. If a country depends on foreign supplies, it must give high priority to exports to that country to strengthen their balance of payment. In such a situation banks must step in to provide credit to export activities in a preferred manner to increase county’s reserves in that currency. C. MULTIPLE CREDIT CREATION: There are two views on whether banks can create credit- †¢ One view held by Walter Leaf is that banks can not create money out of thin air. They can lend what they have in cash. †¢ Another view held by Hartley Withers is that banks can create credit by opening a deposit every time they advance a loan. It is interesting to know that in an effort to maintain lowest possible idle cash, banks end up in increasing the money in circulation without increasing tender cash currency while creating credit! In fact, credit creation is one of the most important functions of a commercial bank. They increase the purchasing power of people. Let us see how does this happen. C1. METHOD: When bank gives a loan it pre-supposes that bank has cash through deposits. From the deposit bank gives loan which in turn gets deposited in the bank account. It creates an asset as well as a deposit with the bank. The beneficiary customer can issue cheques for payments in addition to the existing customers who have originally deposited the money. Thus money available in circulation superficially becomes more than the actual tender cash currency. This is the view of practical bankers. Concrete Example: Let us presume that our country has only one bank B and all the citizens are heavily into banking making the cash requirement of B just 10%. B gets total demand deposit of R. 10000 and that is the only currency in circulation in our country. Balance sheet of B will read as follows: |LIABILITIES |ASSETS | |Deposits 10000 |Cash in Hand 10000 | |TOTAL 10000 |TOTAL 10000 | B has to maintain 10% of its deposit of 10000 which is 1000 as cash reserve. It implies that B can give 9000 as loan. It creates an additional deposit as it is released to the deposit account while creating a credit of 9000 and the new balance sheet will read thus: LIABILITIES |ASSETS | |Deposits 19000 |Cash in Hand 10000 | |