The Process of Development

The Process of Development Introduction This essay, will be discussing the advantages and disadvantages of culture in the process of development. As it will be demonstrated, culture can both be a catlystic agent just as it can be a stumbling block for development process. Whether we like or not,we have to understand that culture plays an indespensable role in the way people respond to diferent development policies.Thus according to Spackman,in what he called Postmodern appraoch , an economic policy that leads to sustainable development opt to take into account a psychological angle also known as development with a focus on personal needs and growth; secondly, it should consider a spiritual dimension given that this trend constitutes the deepest root of human existence . Such policy he added will provide legs and not clutches .This policy is also referred to as People Centered Development (PCD) in short. (Speckman2007:24-25). The aim of this essay however is not to discuss which policy is the best but the advantages and dis advantages of culture on development process and,for the sake of this paper , I have decided to base my discusion on five important elements. These are: Sexism and Patriarchy; the impact of Lobola (dowry) on Development; African understanding of knoweledge, the understanding of Culture visavis of different deseases mainly HIV and AIDS and finally, culture and environmnet. What is culture? According to the Oxford Dictionary (1999), Culture is defined as arts and other manifestations of human itellectual achievement regarded collectively.the custums institutions and achievemtnet of a particular nation people, or group.(Oxford Dictionry, 348:1999). For an Africans the topic concerning the impact of culture and development progress is crucial because on one hand, we are eager to keep our culture of which we are proud of but on the other hand, as a leader, we are compelled to guide people toward a sustainable development. (Speckman2007:44). Christianity as a culture: From the definition provided above, one may also suggest that culture is not only what our ancestrors left to us which were transmited to us through oral traditional. After our grand parents had converteed to Christianity they somehow adopted a new culture that we inherit.In other word, I wsh to argue that Christianity itself and the way we adopt it contitute culture which deserve a special attention while discussing the isue of the impact of Culture and Development. For instance, some Zulus will say I dont practice ancestros worship because I am a Christian. In order words, this implies I dont practie that cultural practice because I have adopted another one. Thus the topic: christianity and Deveopment. What is development? : Acording Oxford Dictionary, (1999) simply one maysimply say that Development is a specified state of growth or advancement. (We will argue that s mant African scholars such as Kalenkole and Mbiti have argued Africans are very religius people and yet remained poor. (Oxford Dictionary, 1999:392). What is the relation between Culture and Development? Historically speaking, Schech and Haggis(2002) argue that the origins of the notion of development in the sense of promoting social progress lie in the same set in the nineteeth century as which are associated with the origins of the concept of culture . They added, Indeed culture and development sometimes mean almost the same thing until discourses of development planning and cultural specificity diverged in the ealry decades of the present century. (Schech and Haggis, 2002:5). Thus in Africa, specifically in South Africa, given the place ocupied by culture, one may argue that if we are projecting for a sustainable development, it is indispensable to scrutinize both the strenghts and the weaknesses that cuture can bring about and, when possible try to challenge critically some of our cultural practices and believes that appear to be as an obstruction to Development.But at all time, we first have to be conscious that we can not impliment efficient development policies while ignoring the presence of culture. Larry Yost nd Hugh Tracy were right in their eighth principle of Community Development Work when arguing the importance of involving the local leadership since the ultimate responsability for continuing development rests with the local citizen (Yost and Tracy: 1997;21). Beside that, either one is an economist or traditionalist; we all heartily and sincerely endorse the striving for economic development. In other words, Economic development expresses one of our fundamental hopes and aspiration. Moreover, in its report published in 1996, the UNDP (United Nations Development Program), defined human development as the endeconomic growth a means. (Human Development Report 1996). (http://hdr.undp.org/en/reports/global/hdr1996/). Disadvantages of Culture: Speaking about the disadvantages of culture on development, one may argue that sometime people because of their ignorance or lack of knowledge can deny even what is indispensable for their survival on the basis of their cultural beliefes. Thus, as it has been argued by Spackamn, people need to be empowered as toward decision making.And, in my view, any theologian and any educated person who cares about the Development of Africa should think critically about the impact of culture.According to Spackman, culture can have positive impact on development just as it can have negative repercussion on development. Thus, this situation often plunge us into a dilemma because on one hand we are eager to keep our culture of which we are proud of but on the other hand, as leaders, we are compelled to lead people toward a sustainable development. (Speckman2007:40-44), Impact of Sexism ad patrirchy on development As mentioned before, this paragph will be discussing sexism in Africa and its impact on development. I will demonstrate how sexism and patriarchy have contributed all along many years to the oppression of women and, consequently this situation has also lead to the oppression of men and the impoverishing of Africa. Definition of Sexism: According to Cambridge Dictionary, Sexism is the belief that the members( in this case women) of one sex are less intelligent , able skillful, less accepted/valued by God than the members of the other sex. Especially that women are less than men are. (Cambridge Dictionary2005:1166). Mercy Amba Oduyoye argues that Womens status in most societies is far lower than that of men. In her view, this situation is due to cultural stereotype specified under attributes and responsibilities. (Oduyoye, 2007:22).Beside that, even the way the Bible has been often interpreted has immensely contributed to women oppression. In most African society, at the death of parents in most only male children will inherit and never a girl.Thus in African society and all over the World, there is a tendency to consider a boy more valuble than a girl.when there is shortage of income in the familly, often it isthe girl who has to interrupt her studies in favor of the boy. Secondly, though a woman is said to be a partner, in most decision making, either within the society or within the familly practically, she does not have much to contribute if not nothing. In other word she is just there as an auxilliary to her husband. Once divorced, a woman loses respect and finds herself despised if she does not quickly remarry. The whole education has been in preparation for marriage, so a failure here is a total failure. No woman is destined to stay single if so she has done something wrong. (Oduyoye, 2007:22). Apart from sexism found in the culture, we also find that even the way Bible has been interpreted does not encourage wo mens emancipation. To use Nyangweso words, Marriage is endocentric. This is a universal experience that cries for reexamination.'(Nyangweso2007:61). From the Hebrew Testament to the New Testament, the position occupied by women is often portayed to be lower to that of men. Thus, Oduyoye argues that gender stratification has distorted the quality of human relations and it continues to deny the parity between women and men to accept female and male as equivalent expression of being. (Nyangweso2007:62). How then do sexism and patriarchy impact negatively on Africans development? By oppressing women, some men think that they will monopolize the power and order will be established. However, a careful observer will agree with me that by oppressing women, men are doubly oppressed. First, men are deprived from the closest source of support. As when woman and man have equal access to education and make their economic decision together, this can boost their economy. In the previous decades we saw that in some part of Africa like Senegal, women were not allowed to attend school and this in my view was oppressive toward a man as he has by himself to provide not only for himself but his wife and children whereas a woman well educated will have access to better job and financial resources. And this will solve not only her financial problem but also will be able to raise the household income. (Oduyoye, 2007:22).By doing so the man is secured from working doubly. And more interesting, a husband will have peace of mind knowing that after his death his wife and children wi ll not be mistreated by the rest of his family. Womens contribution was not really valued in terms of Development .That is why pne may ague that sexism constitute a stubling block as women are considered as passive agents in the process of the development whereas ,if they were to be valued, their input should have boosted our Development. I dare to say that taking as reference to our modern time where men and women appear to ocupy the same position and deliver the same service.Thus tooday we have Nurses, Doctors, Enginneer, Political parties Leaders such as DA in South Africa and so on.In one word, one may say that African Development will not progress untill all of those who are oppressed by sexism and partiacrhy are free. Thus the UNDPs statement (Unitied Nations development Programme), Gender equality and womens empowerment are central to achieving for inclusive, democratic, violence-free and sustainable development in Africa and therefore a condition to achieving the Millennium Development Goals (MDGs). www.undp.org/porvety The impact of our religious and social beliefs on development. Land and devolpment: Culture has a huge impact on land development. Werner Sombart argued that any economic system is nothing but a manifestation of the existing culture. And, a culture exists because of a certain spirit. (12).Thus in section I wish to discuss some of both positive and negative impacts of Culture on Agriculture and environmnet in general given its role in Development. Speaking about African culture and development, it is important to understand that knoweledge as a crucial component of technology raises some pertinent questions in Arfrican culture. Its cultural construction raises questions like: What value is placed on different forms of knowledge? (And by whom)Who has access to, or access to exploit knowledge? Consequently, individual are not free to engage in research given that only a certain group of people has access to that field.Often, it is found that our Culture imposes some practices that dont encourage development. For istance, in some areas where the tra dition is still highly observed, we find that there are some places which are reserved strictly for ancestors worship as well as some restrictions to cultivate some products. This can be a challenge when the government want to develop a such area either in terms infrustructrure, roads or practice an Agriculture which will benefit many.Often, when the Government insists and go against the will of the resident of that area, it is found that the project is never successful given that as the ABCD methods states a true development project, has to be initiated by people and with people. (Class notes) Impact of Lobola on development: Beside the issue of land, another pertinent issue in our modern time which arises from culture to be discussed is the issue of Lobola and weding ceremonies .Today, in South Africa and elsewhere in Africa, the issue of Lobola present a stumblig block to development for different individuals. Originally, Lobola was meant to express a link between the two families. According to one of my South African friends, lobola was like a gift of appreciation to the best familly. Howerever, as time goes on, this practice has changed its aim and has tendency to become a business whereas life does not always allow it. Consequently, most couple ends up in debts.Speaking about development, this practice does hinder financially the new couple from achieving other goals such as education of quality of both their children and themselves because they can not afford it.In the future, this situation affect both the familly and the Nation as we can only produce a service of q uality if we have rceived an education of good quality. Furthermore, any carefull observor, will argue with me that the economical situation doe no more allow to feast for a long period.Thus to enforce the new couple into endless parties and ceremonies just in the name of culture is irrespective to what is defined as Sustainable Development as According to The United Nations World Commission on Environment and Development, development is sustainable if it meets the needs of the Present without compromising the ability of future generations to meet their own needs..Here the point I am trying to make is that there are many cultural practices that may seem to be fastidious whereas they dont encourage savings. (http://hdr.undp.org/en/reports/global/hdr1996/) Deseases, Culture and Development: Today, no country in the World is unacquainted of HIV and AIDS. According to the report generated by the UNDP in 2007, South Africa was experiencing the most severe AIDS in the World. 5.7 millions of People living with HIV and almost 1,000 AIDS deaths occuring every day. In its efort to fight this deasease, South African Goverment together with Who (World Health Organization) spent millions of Rand in order to support people who are infected and affected by HIV and AIDS. (http://www.avert.org/aidssouthafrica.htm) One of the reasons why this desease continue to spread extremely beyond major is our behavior due to our cultural beliefs and practices .Some of the practices to consider here are levirate mariage and poligamy. Levirage mariage implies that when the father of the house dies, his brother has to replace him. And, often this happen inspite of the wish of the wife of the desease.Consequently, this practice perpuates the spread of HIV in case one of the new couple is already infected. Apart from levirate mariage, polygamy which is accepted in most African Culture like Zulu culture for instance is another obstacle.Furthermore, beside levirate mariage and Polygamy, the way our tradition conceives and deals with deaseses such as HIV and Aids and many others such as Swine Flu, Cholera and so on often end in disastrous result. On 30th of November 2006 for instance, the SACC adressed its concern about a traditional healer who claimed to have cured 500 HIV-positive people with the use of herbs which acording to the invistigation done it was just a way of attracting people to draw their attention to traditional medications.( http://www.mg.co.za/article/2006-11-29-church-council-outraged-over-aidscure-claim) Beside that, some traditional healer do often suggest method which rather than leading to the cure encourage the spread of HIV. This, being because they have another understanding of the disease. Some believe that by sleeping with a virging girl they would get rid of the desease , others argue that the use of Condoms is not in accordance with our culture.I remember in my culture that there is an odd say ntawurya umunwa wugaye meaning no man can eat the mouth closed implying that a man could never have sex and stop the semens from entering the female private part.Others will go even further by arguing that condoms are Westerns assert used to spread the desease among Black People in other to exterminate them. Consequently, these b elieves have been the cause of death of many talented and energetic young people indispensable for the development of Africa. Thus while encouraging our young generation to assume the continuity of our Culture, we should be keen to think critically about certain practices that hinder the Development of our people. Beside that, each African should endeavour to reduce the cost of supporting people living with HIV and AIDSas it has huge repercussion on national economy. Impact of HIV on Development South African Government spends millions of rand each month to fight the desease and especially in the support of people living with HIVand AIDS by providing ERVs and other medications including the distribution of free condoms.These huge amount of funds which are used to support people living whith HIV and AIDS constitute a big lost as there should be used to support many other projects such as Education, scientific research,the fight against Women oppression and crime, and different studies that may help to kep our Environmnent from degradation and many other projects which in return will contribute to the Development process. By criticizing the investment in the fight against HIV and AIDS, I am not arguing that it worthless project.I do believe that People who are infected and affected by HIV and AIDS are still people who deserve dignity and support. This being because first of all, they remain human like others and, most of them are indispensable for our Development. However, the point I am trying to make is that the support of people living with HIV and AIDS is very costy .Therefore, wherever possible we should be willing to divorce ourself from any practice that favor the spreading of HIV and AIDS in this case certain cultural pratices and believs mentioned above. Impact of Christianity on Development. Speaking about the church as one aspect that has shaped our culture (cfr introduction), While speaking about Development and Culture, it might look easy to criticize what had been passed on to us by our forefathers. One of the reasons is because; these cultural practices appear to be too old. Some of them are not even in practice today.They are just part of our history though we claim them to be part of our culture .And; often we just refer to them when it suits us as a way to defend our manhood, political argument and so on for instance. However, if we will have to engage critically, I think we should speak more about what appears to be a burning issue. Thus in my view, it is essential while discussing culture and development not to leave aside Christianity. This being as discussed before, the way we practice Christianity can constitute a culture.Though it is universally known that Chrisitianity is a religion, I wish to ague that Christian life is itself a culture. Thus, just as one can engage critically with his/her culture, we should also be bold to discus some of the impacts of Christianity on Development. Positive impact of Christianity on Development: One of the positive impacts of Christianity for us as African is that it has free us from diferent ancestoral practices which dont encourage development. This is for istance the total dependency on spiritual agencies and forgeting that we are the custodians of the earth.Beside that, Christianity does encourage hard working. Thus looking unto Jesus, Paul (He who does not work should not eat). And, today, some churches have sort to preach the prosperity Gospel. This kind of Gospel has some good aspects of development in a sense that it does encourage people to know that it is their fathers will that they may prosper (verse).Some individuals argue that one of the reason why Europ is more developed than africa is because we as African put the spiritual realm first and undermine our ability to create.This is often explained by the fact that in Europ, during the modern period, Europe develop dramatically especially in terms of technology and economy. Negative impact of Christianity on Development Though one may say that Christianity enclose numberous positive aspects for development, one has also to be aware of the negative impacts that Christianity can revert on Development and often due to the way, we interpret the scriptures. Often, church leaders do teach that we have to live a poor life. We have to look on things above. We should not keep our tresearues on earth here roast and will eat them. Thus, a missinterpretaion of such verses has leaded some of believers to be satisfied with their porvety and therefore hinder them from seing any need for development. Beside that, another negative aspect of Christian teachings is its impassibility visavis to issues regarding development and politic.Scholars in nowadays came to the conclusion that such attitude reveals ignorance given that the church operates within the society and whaterver strikes the society also strikes the church (Simangaliso.). It is therfore good time that the church starts to engage with not only spiritual is sues but also social issue. Conclusion In Conclusion, this essay has discussed the impact of Culture on Development. I have demonstrated how some facets of culture such as partiacrchy, sexims and Chrsitainity do impact both positively but most largely negatively on Development progress.Most extensively; I have discussed how culture in Africa has hindered the development process. I came to the understanding that there is no culture which is universal and there is no culture which is eternal. Consequently, each cultural practice should be understood from its historical and socialogical context and applied in contemplation with the current political, social and economic situation. Reference Ife,J.(2002), Community Development,(2nd edition), Pearson ,Sydney Australia NIV Bible Nyangweso.,M 2007,FemaleCircumcision, Maryknoll, New York :Orbis Oduyoye, Mercy Amba, 1986.Hearing and Knowing: Theological Reflections on Christianity in Africa,Maryknoll:Orbis.2001 Simangaliso, R, 2005, Theology and Education, the role of the Church in education for social transformation: A Methodist contribution, Cecil Renaud Library Pietermaritzburg, South Africa Speckman MT, 2007, A Biblical Vision for Africas development ?, Cluster Publication http://www.mg.co.za/article/2006-11-29-church-council-outraged-over-aidscure-claim http://www.avert.org/aidssouthafrica.htm www.undp.org/porvety http://hdr.undp.org/en/reports/global/hdr1996/ Schech,S and Haggis,J.(ed)(2002) Development: A Cultural Studies Reader ,Publisher Blackwell Yost,L and Tracy,H(ed).(1997) (class notes)

The process in Financial intermediation in the banking sector

The process in Financial intermediation in the banking sector The financial intermediation is defined as the process which had been carried out by the financial intermediaries as the middleman between the borrower (spender) and lender (saver) to smooth the flow of fund. The financial intermediation called as the process of using the indirect finance in the financial system, which the primary route to transfer funds from lender to borrower. Those savers who have the surplus money will deposits their fund in the financial institution, which will lends those funds to borrowers such as business firms, households, government or foreigners who shortage of fund. Financial intermediary are those financial institution such as commercial bank, finance company, merchant bank, Islamic bank and Brokerage Company. The financial intermediary help to transfer the funds between the lender and borrower in the ways of borrow money from the lender-saver and then using this money to make loan to borrower-spender. For example, the financial institution acquires fund s through public by issuing liabilities such as time deposits and saving accounts. After that, the bank might use that fund to acquire an asset by making loan to the people needed fund for investment or buying that company bond in the financial market. As a result, with the help of financial intermediary, the money successfully transfers from public to the borrower. Financial intermediaries play an important role in the financial system because they help to facilitate the risk transfer and in dealing with the increasingly complex of financial instruments and markets. The financial intermediarys role is to transform the assets which are less desirable by a large portion of public in to assets that are more preferable by the public. This transforming have serve four economic function which are providing maturity intermediation, reduction of risk by diversification, reducing the contracting and information processing costs and to provide a efficient payment mechanism. Besides, many subsequent authors also have stressed about the role of transaction cost in the financial intermediaries. Due to the financial intermediaries are very specializing in information processing, they have create the well-functioning financial institutions that has greatly reduced the transaction and information for customer. They can achieve the economy of balance through sp ecialization; this is because they are handling very large number of transaction so they are able to minimize the fixed costs by ward off the same production of information faced by borrower and lender. In addition, Petersen and Rajan (1994) stated that financial intermediaries develop specialist or expert people in evaluating prospective borrowers and investments projects. Other than that, they can also exploit customer information and reuse that information over time and again. As a result, there are more funds are made available for investments. For example, the fixed cost of assets evaluation mean that the financial intermediaries have an advantage over an individual because they allow the costs to be shared. Faulkender and Petersen (2003) mentioned that the information acquisition cost maybe still can lower down by establish a long-run relationship between the borrower and financial intermediaries. Furthermore, financial intermediation has gain confidence and trust from the pub lic by protect their assets with providing efficient service to help them manage their assets. This is because the financial intermediaries help them channel funds more efficiently to productive investments through funding pooling, better identification and monitoring of profitable investments and risk diversification. Diversification allows allocating assets and bearing risks more efficiently. Those investments are protected against from unconscientiously borrowers by the institutions qualified loan officers and well-trained investment analysts seek good investment opportunities and screen prospective securities so as to obtain the best yield available for the risk level that suits the investors preferences. Thus, the financial intermediaries are vital part for our economic system and in order to maintain the flow of money in the economy. Diamond and Dybvig (1983) show that how the financial intermediaries can improve the risk sharing and thus improve the economy welfare. The financial intermediarys help to diversify the risk of the lenders (savers) by help them to investigate their savings across different sector of business. They have the ability to get the important information that concern about the borrowers financial position compare to those in direct finance route which lender directly lends their money to borrowers in financial market without any information about the borrowers. Financial intermediaries can have the borrowers such important information is because they already have a history of exercising discretion with this type of information, and help to reduce unreliable information concerning the borrowers. This will help to solve the problems create by asymmetric information which are adverse selection and moral hazards. Financial intermediaries help them to screen risk, monitor risk and evaluate risk. It is more efficient for financial institution to screen the investment opportunity and risk on behalf of individuals compare to an individual to screen its. Since the institution has all the important information available about the lenders and borrowers, it helps to reduce the information costs for analyzing their data and save their time. Thus, individual can enjoy other services provided by the financial institution which can enable them to deposit and withdrawal funds without negotiation whereas the borrowers can avoid having a deal with individual investors. It concludes that it helps those individual not only save their time and money, and also offer low risk investment opportunity to them. If there is no the financial intermediaries, the lenders-savers and borrowers-spenders have to pay higher transaction and information costs and the facing the problem create by the asymmetric information such as adverse selection problem and moral hazards problems. Hirshleifer and Riley (1 979) said that adverse selection problems arise before the transaction occurs. Usually those people who agreeable to pay higher interest rate will be worse risk and thus the lenders are more likely had make a loan to high risk borrowers This problem only occurs on the borrowers but not the lenders. However, the moral hazard problem occurs after the transaction which it arise just as the borrowers involve in the chance of their loan will being repaid back to the lenders. It also will happen when the borrowers is taking too much risk as the costs incur more than the benefit that gains by borrowers. Therefore, it will discourage the individual savers from lending money to those borrowers who have such investment opportunity and affected the whole economic development in the country. Amina (2009) show that financial intermediaries also provide maturity flexibility service to individuals by creating financial claims with wide range of maturities so as to balance the maturity of different instruments so as to reduce the gap between assets and liabilities. As if there are no financial intermediaries, individual savers have to purchase the securities of borrowers it will lead them to have many uncertain risks such as the conflicting of the maturity needs of lender and borrower. For example, most lenders would like to lend money at short maturity, however normally the borrower will attempt to borrow for a longer maturity. It would make difficult for the borrower to match their larger loan amount with the small amounts of individual savings which are desired by the lenders then it will make the borrowing more difficult. In addition, financial intermediaries perform an important function as maturity intermediation to make sure investment from lenders and money borrowing for borrowers flawless. In the existence of financial intermediary, individuals income tax differentials are mitigated which it help to transfer tax deductions from low to high income tax payers and to provide tax free services in place of taxable interest. For example, the income invested in and earned by pension funds is not taxed until retirement when the rates are generally lower than before the retirement. Beside, commercial bank also rewards depositors with free service, which are non taxable, rather than pay interest, which is taxable. The depositors will receive nontaxable benefits such as checking accounts, travelers checks and low rate loan in return for the use of the money. In conclusion, the existence of financial intermediary played a very important role in the economic development of the country. In this modern world, it would not have been so efficient, aggressive and progressive without the financial intermediation. Financial intermediaries provide a convenient and safe place where lenders can safely invest excess money and borrowers can easily borrow fund with the low cost and low risk. Question 2: Compare money and capital markets and identify the major issuers of securities in the different markets and the difference among the various types of securities within and between each of the markets. Within your discussion of the money markets include a consideration of the role of the Federal Reserve System (Fed) and the banking system as they interact through required reserve maintenance and monetary policy actions by the Fed. Consider in your analysis the types and significance of the links between the money and capital markets via the term structure of interest rates, issuers of debt and equity, or the characteristics of these securities. There were two group of markets can be found in financial market. They were the capital market and the money market. Although they both come from financial market but they consist of differences. In capital market, we will found the stocks and bond market but in general it is the market for securities where long term funds can be raised by companies or government. To raise the funds, a person needs to purchase a price-set bond in order to borrow their money to the government or business for period of time and this will gain higher return as promised. The government or company paid the lenders through interest that accrues from the borrowings. Another way for the government or company to raise the fund is through the stock market. By using this method, they will sell shares of their stock which is the ownership of the company to the public or companies. Dividends will be paid to the shareholders as agreed by the company as the return on their investment. There were two markets in the capital market: Primary market and secondary market. New issues are distributed to the investor in the primary market and the secondary market is the place where trade securities. In money market, it is about the global financial market. The money market is the place where borrowing and lending in a short-term period. Short-term liquid funding also will be provided to the global financial system. The period of the borrowing of money by the company in a money market has an average of thirteen months. There are few common types of things that being used in the money market such as bankers acceptance, certificates of deposits, commercial paper and repurchase agreements. Normally the money market consists of banks borrowing and lending but money market also will involve by financial companies. A large amounts of asset where issued by the finance companies to fund themselves which is secured by the promise of eligible assets into an asset backed commercial paper conduit. The difference between the two markets is that capital market is for long term investment. They were selling stocks and bonds to borrow money from investors to operate their company. In money markets, it is the short term borrowing or lending market. The banks borrow and lend between themselves and it is usually paid back within thirteen months. The differences can be seen through the ways the two markets used for borrowing or lending transaction. In capital market, primary and secondary markets are interrelated. Securities emerge in primary market while other dealings take place in secondary market. However, there was no sub-division in money market. In efficient money market, secondary market does take place too. In capital market, the financial instrument that being used are debentures, shares, public sector bonds and units of mutual funds. On the other hand, money market uses different financial instruments such as Treasury bill, call money, commercial papers, and certificate of deposits. There were several characteristic of the securities in the money market. They are rapid maturity, safety, liquidity funds of securities of the money market. Short-term capital requirements of the business and government can be solve by issuing money market securities. The maturity of the securities is between three months and matured within one year. Federal funds and repurchase agreements are the money market instruments that examine the maturity of the securities. The credit ratings that surpass the other investment grade debt instruments make money market securities the safest investments available. (Jim Orrill, 2010) The SEC helps ensure this safety by mandating that at least 95% of a money market funds securities must be ones that have earned the highest rating of at least two of the five major credit rating institutions. Federal Reserve System is often referred as Fed is the central bank of the United States. In Malaysia, Bank Negara Malaysia or BNM is our central bank. Although central bank may differ in terms of structure and modus but they have common responsibility which is to maintain the monetary and financial stability. Sometimes, they are responsible for developing the financial infrastructure and participating in the overall development of nation. Bank Negara Malaysia is responsible to maintain the monetary stability. Preserved the value of the ringgit is the best way to ensure the price stability. This can maintain the inflation of the country low and stable. By maintaining the inflation at low and stable condition will not diminished the purchasing power of ringgit. When the inflation rate is high, people will tend to consider about their purchasing power. When this happened, demand for real assets like properties and houses will be higher because they were thought to be more inflation-proof. Interest of people will be less on investment in the productive capacity of the economy. The interest of holding saving in the financial system will be lesser as they expect that their savings value will be diminished. Fixed income earners will feel their ability to purchase goods and services become less. Bank Negara Malaysia influences the level of interest rates to conduct its monetary policy. Interest rates are the rate that the borrowers of the loan have to pay and the depositors earn on their deposits. To encourage people to save more, interest rate will be given at a high rate. When the economic is weak, funds will be injected into the banking system to reduce the interest rates. Economic activity will be stimulated by the increasing consumption and investment. (Elgilani Eltahir Elshareif, 2010) Short term and long term interest rates of fixed securities is important for the transmission mechanism of monetary policy. Usually the short-term rates will be influence by central bank, while the basis of investors expectations of future real interest rates and inflation affect long-term rates. The future real interest rates will affect the domestic investment and production. The real sector of the economy will affect by the term structure transmits monetary policy. In the open economy system, the structure will affect international capital flows and hence exchange rate. Required reserve is referring to the amount that the banking institution place with the BNM in compliance with the Statutory Reserve Requirement. Cash in vault of the banking institution and the demand deposits with BNM are considered as excess reserves. Demand and time deposits placed by the financial corporations are deposits of the private sector. Money market securities are extremely liquid can be converted into cash quickly. As the principles of these debts are repaid very rapidly thus the liquidity of the investment was gained. These securities give the optimum way to the public to invest in the money market securities by trading in large denominations. The money market securities are a wholesale market of short term debt instruments. Question 3: Are the following statements consistent or inconsistent? Explain your answer and discuss how equilibrium is achieved between the futures and cash markets. Answer: Yes, the statement equilibrium is achieved between the futures and cash markets is consistent. An equilibrium relationship can be exists between cash and futures markets. In order to explain how equilibrium is achieved between the futures and cash markets, we first need to take a look on the meaning of future and cash markets and understand how they functions in the commodity market, then we proceed with the basic relationship that arises between both markets. Lastly, we will explain how arbitrage and the law of supply and demand lead the future price to the equilibrium level. The futures market is a place where participants can trade for future contract. A future contract is a contract that involves two parties to buy or sell a specified asset on a specified future date at a price agreed today. While the cash market is a market in which the buyer makes an immediate payment for physical commodities that equal to the current market price, which also called the spot price. The purchaser of a future contract which represent as a long position holder undertakes to receive the delivery of the commodity on future and want to pay it for a low price as possible, while the seller of a futures contract which represent as a short position holder promises to deliver the commodity on future and want to receive a high payment as possible. Long Position Short Position Hedger Secure a current price to protect against future rising Secure a current price to protect against future declining price Speculator Secure a current price in anticipation of rising prices Secure a current price in anticipation of declining prices As above mentioned, the traders in the future market basically classified into two categories: hedgers and speculators. Hedgers can be farmers, dealer, foresters and oil drillers. They have the preexistence risk that connected with a commodity and they enter the market to reduce that risk. Thus, intended to protect against the price risks, they on purpose trade in the futures market to secure the future price of a commodity and sell it later in the cash market. Unlike hedger, speculators aim to profit from the vary price change that hedgers are protecting themselves against. They do not intend to minimize the risk but rather to get benefits from the intrinsically risky nature of the commodity market. For example, we assume a farmer bears the risk at the planting time associated with the uncertain harvest price his wheat will worth on the later 6 months. To avoid this risk he may enter the future market and sell a future contract. For instance, if the current market price for wheat is $10 per ton and he expected to produce 1000 tons of wheat in the next six months, he could lock the price at $10 per ton and selling a 1000 tons wheat future contract. In this manner, the farmer intends to establish a price today that will be harvested in the futures. At the end of the 6 months, the price of wheat in the cash market is actually $9 per ton, so the farmer benefit from the future contact and escapes the lower price. However, if the prices of wheat in cash market were $11 per ton, then the speculator would benefit from the future contact instead of the farmer. Since the future prices are fluctuate based on unpredictable circumstance, the gap between future price and spot price might be huge, hence, people calling the basis as referring to the difference between the cash price and future price of a contract. When a future contract near to its maturity date, the future price and spot price will move close to each other and finally become the same at expiration. Which means the basis must be zero at the maturity of the future contract. From Fig 4.3, we can see that as the delivery month of a future contract is neared, the futures price centralize to the spot price of the asset, and at the delivery period, future price equals to the spot price. So, as time passes, the basis narrows approach maturity of the contract. This behavior of the basis over time is known as convergence, this can be easily explained by arbitrage and the law of supply and demand. For example, suppose that future price is much higher than the spot price as time goes near to the contracts month of delivery. In this condition, traders will catch the arbitrage opportunity of shorting futures contracts, buying more underlying asset and then making delivery. Due to this, the future price will tend to fall, and suppose that future price is much lower than the spot price. Again, there will be arbitrage opportunity, traders are more willing to acquire short contract and cause more long future contract in the market. Thus, the futures price will tend to arise. In this manner, whether the future price is lower or higher to the spot price, at the expiration, both will be equal. In terms of supply and demand, the effect of arbitrage attracts traders to shorting futures contract and creates an increase the supply of contracts to market so makes the future price fall. Inversely, buying the underlying asset causes the demand of assets increase; as a result the future spot price will increase as well. In conclusion, we know that no matter how the future price is difference to the cash price, at the maturity, the basic must be zero, which means that the future price and cash price are equal. Therefore, we can say equilibrium is achieved between the futures and cash markets. Question 5: If banking were to be based on interest-free transactions, how would it work in practice? Do we really need Islamic banks? Is Islamic banking viable? How does Islamic banking fare and conventional banking differ? How many Islamic banks are working at present and where? The Interest-free transactions of Banks Practice Islamic banks are the financial institutions that operate base on Shariah principles. Islamic scholars commend trade-oriented banking in place of traditional interest-bearing credit oriented banking. The major vehicle of interest-free banking is a two-tier mudarabah, which is a business contract negotiated on the basis of profit-sharing ratios between two profits-seeking parties, A and B. Parties A provide funds to party B, party B independently manages the business according to the agreed terms. From the banking point of view, it is an advance agreement on a ratio in which realized business profits are to be shared. The basis of two-tier mudarabah is one mudarabah between the surplus economic units (depositors) and financial institution in order to replace interest-bearing contracts between savers and banks; and another mudarabah between the financial institutions and the deficit economic units in order to replace interest-bearing contracts between banks and ultimate users of funds. So, banks can negotiate deposits and advances on the basis of profit-sharing ratios. In effect, interest-bearing loans are replaced by profit-seeking investments and qard hasanah (loans on zero interest). Interest-free financial institution can efficiently perform all types of intermediation after eliminating interest from the system and the replacement of interest rates by profit-sharing ratios has profound macroeconomic consequences for unemployment, inflation, stability, growth, and income distribution. The Needs of Islamic Banks With Conventional Bank Many Islamic banks use the facilities of conventional banks for treasury management, foreign exchange, portfolio services and investment banking. Major multinational conventional banks have the critical mass to provide specialist service while Islamic banks are usually too small in size to take on such services themselves. Outsourcing makes sense for organizations when the benefits of internalization are outweighed by the administrative costs of trying to extend their functions into new areas where demand is limited. As most Islamic banks are located in the Muslim world, where most of the demand is for core banking services rather than for highly specialized finance, it is a potential management distraction to widen the facilities on offer excessively. This could actually result in deterioration in the quality of the basic level of deposit and funding services. Islamic Bank is Viable Islamic banking and finance are emerging as viable alternatives to conventional interest-based banking and financing. The long run goal of BNM is to construct an Islamic banking system operates same as the conventional banking system. However, an Islamic banking system requires three important elements to qualify as a viable system, such as a large number of players, various types of instruments and money market in Islamic world. In addition, the socio-economic values in Islam must be reflected in an Islamic banking system. BNM spreads the virtues of Islamic banking to distribute Islamic banking on countrywide with a lot of players and able to reach all Malaysians by achieving the above objective. Islamic financial products and services are being in their existing infrastructure and branches. It was seen as the most successful way to increase the number of financial institutions offering Islamic banking services efficiently. On 4 March 1993, BNM introduced an idea is known as Interest-free Banking Scheme (Skim Perbankan Tanpa Faedah). There are many Islamic banking services that provided by the banks using a range of Islamic concepts such as Mudarabah, Musyarakah, Murabahah, Ijarah and others. Mudarabah (Profit-sharing) A capital provider and another party to allow the entrepreneur to carry out business projects based on a profit sharing ratio under an agreement. However, the capital provider of the funds needs to bear all losses. Musyarakah (Joint Venture) The sharing of profits will be distributed base on predetermined ratio for a partnership or joint venture of a particular business. Both parties will bear the losses base on equity participation. Murabahah (Cost Plus) Sales agreement is applicable on the condition that the sale of goods at a price, other costs and the profit margin are agreed to by both parties. Ijarah (Leasing) A lesser (owner) leases property to a lessee at an agreed rental against a fixed charge. Islamic Banking versus Conventional Banking The difference between Islamic Banking and Conventional Banking which is conventional banking eliminates the risk while Islamic banks take the risk when involve in any transaction. In addition, conventional banks do not bear the liability only get the benefit from customers when involve in transaction with customers in form of interest. On the other hand, Islamic banks bear all the liability in transaction with consumer because in getting out any benefit without taking its liability is illegal in Islamic principles. In retail deposit services include the provision of current accounts and low-risk investment accounts base on mudarabah with clients sharing in any bank profits. Conventional banks provide similar deposit services at retail level and allow overdrafts on current accounts, which often incur both fixed-rate charges and interest. Islamic banks cannot offer overdraft facilities on current accounts. However, depositors who get temporary financial difficulties due to events beyond their control such as illness may receive interest-free loans. Conventional banks offer savings rather than investment accounts, the major attraction of such accounts being the interest paid to depositors. This often increases as the minimum notice period for withdrawals lengthens, with accounts which for example require three months notice for withdrawals paying more interest than those requiring one months notice. Some Islamic banks apply similar stepped returns with their investment accounts, with a higher prop ortionate profit share as the period of notice for withdrawals increases. Moreover, conventional bank concern on money as a medium of exchange, valuable and interest on capital is charging on time value basis. Islamic banks focus on the real asset but money is just a medium of exchange goods services for earning profit. In conventional banks, Government gets the loans easily from BNM through Money Market without any capital development expenses. In Islamic banks, Government cannot obtain loans without capital development expenditure. Lastly, debts financing in conventional banks has the benefit of leverage for a project because interest expense is deductible expense form taxable profits. This leads to maximize the tax burden over salaried persons. So, the saving and disposable income is affected badly and decrease in the real GDP. In Islamic banks, Mudarabah and Musharakah provide extra tax to Federal Government and minimize the tax burden over salaried persons. Hence, the savings and disposable income is rise and increase in the real GDP. List of Other Financial Institutions Offer Islamic Financial Products and Services According to the General Council for Islamic Banks and Financial Institutions, there are currently 275 institutions worldwide that follow Islamic banking and financing principles, collectively managing in excess of $200 billion. These institutions are spread throughout 53 countries, including Europe and the United States. Twenty institutions now offer a variety of Islamic financial services in the United States. The Islamic banks are not the only banking institutions drawn in Islamic banking but Islamic banking services were introduced by other financial institutions via the Islamic Banking Scheme. In Malaysia, there are separate Islamic legislation and banking regulations in financial systems. The Islamic Banking Act (IBA) was established to provide BNM with the authorizations of supervising and regulating the Islamic banks. On 1 July 1983, Bank Islam Malaysia Berhad (BIMB) was the first Islamic bank established and was operated base on Shariah principles. After few years, BIMB expanded rapidly and was being listed on the Main Board of the Kuala Lumpur Stock Exchange (KLSE). After that, BNM allowed the existing financial institutions to offer Islamic banking services through Skim Perbankan Tanpa Faedah. The Islamic Interbank Money Market (IIMM) was established to link the financial institutions and their instruments. The National Shariah Advisory Council on Islamic Banking and Takaful (NSAC) was established as the highest Shariah authority on takaful in Malaysia. On 1 October 1999, Bank Muamalat Malaysia Berhad (BMMB) was established. The establishment of BMMB was the result of the joining between Bank Bumiputra Malaysia Berhad (BBMB) and Bank of Commerce Berhad (BOCB). Islamic Banks 1. Bank Islam Malaysia Berhad (BIMB) 2. Bank Muamalat Malaysia Berhad (BMMB) Commercial Banks 1. Alliance Bank Berhad 8. Malayan Banking Berhad 2. AFFIN Bank Berhad 9. AmBank Berhad 3. OCBC Bank (Malaysia) Berhad 10. Public Bank Berhad 4. Citibank Berhad 11. RHB Bank Berhad 5. EON Bank B

Hourly Nursing Rounds to Decrease Patient Falls Essay -- Nursing Profe

Patients are falling in hospitals and nursing homes on a regular basis. The number of falls per hospital has caused injury and death to some, and has cost hospitals a lot of money. Patients feel like nurses have a lot of work to do, and tend not to bother them when they want to go to the bathroom, which is the reasoning behind why many patients are falling out of bed. Many believe that falls should not happen in hospitals, and many insurance companies are no longer willing to cover the costs associated with patients falling. Therefore, many hospitals have looked for ways to implement interventions that will reduce the number of falls, because it is something that can be prevented to begin with. The articles that I have chosen for this paper reflect how hourly rounding has reduced falls in hospitalized patients. Significance The national fall rate is between 2.3-7.0 falls per 1000 patient days in hospitals, costing hospitals approximately an additional $4,200 per fall (Kalman, 2008). The numbers of falls that happen in hospitals are inevitable. They have caused injury and death for many patients while being hospitalized. It has also put on a toll for the hospital with the amount of money they have to spend that could be spent on other things, especially when this is something that can be prevented in a hospital setting as healthcare members are there to help, and are continuously in and out of patients rooms. In fact, this has become significant recently, as insurance companies are no longer willing to pay for falls that happen in hospitals, along with many other things. â€Å"In 2006, there were 2,591 cases reported of Medicare patients who fell out of bed† (Woodward, 2009, p.201). However, the bigger thing to recognize her... ...ck to Basics: Hourly Nursing Rounds to Decrease Patient Falls and Call Light Usage and Increase Patient Satisfaction. Retrieved from http://stti.confex.com/stti/congrs08/techprogram/paper_37872.htm Meade, C. M., Bursell, A. L., & Ketelsen, L. (2006). Effects of Nursing Rounds on Patients’ Call Light Use, Satisfaction, and Safety. Retrieved from www.studergroup.com/content/ahc_research/...files/0906_calllight.pdf Ulanimo, V. M., & Ligotti, N. (2011). Patient Satisfaction and Patient Safety: Outcomes of Purposeful Rounding. VA national center for patient safety. Retrieved from www.patientsafety.gov/TIPS/Docs/TIPS_JulAug11.pdf Woodward, J. L. (2009). Effects of Rounding on Patient Satisfaction and Patient Safety on a Medical-Surgical Unit. Lippincott williams & wilkins. Retrieved from http://ovidsp.tx.ovid.com.ezproxy1.lib.asu.edu/sp-3.4.2a/ovidweb.cgi?QS2=434f4

Divine Wind - Racism Essay -- essays research papers

The Divine Wind describes an Australia that is tarnished by racism, hatred and distrust, and yet the novel ends on an optimistic note. Do you agree? The novel is set during a World War. The tension and separation of races during a war seemed evident in Australia. As a multicultural country including Japanese and Aborigine population, conflicting attitudes towards these races had to be imminent. I entirely agree with the above statement due to the unequal treatment of the aborigines, tension between the Japanese population and characters such as Hart showing lack of trust over his lover Mitsy With a war against the Japanese was the trigger for racism in Australia. All throughout the novel elements of separation are presented. The Japanese are somewhat divided from white Australians. First of all Broome has a â€Å"Register of Aliens†, this was a register or list that kept track of foreign people. This implied that foreigners were seen as aliens and that they didn’t really belong in Australia. The Sennosukes’ names had to be changed because their original names seemed â€Å"†¦too foreign to our ears.† The Japanese living area is Chinatown shows the reader that perhaps whites have put the Japanese into their own little area. Chinatown contains houses that are far smaller and in general with little fortunes unlike the white Australians. It is the broad attitude towards the Japanese that creates a war and endlessly kills Alice. Aborigines are treated unequally and are downgraded in Broo...

Effective Classroom Management Essay

According to James H. Stronge in his book â€Å"Qualities of Effective Teachers†, some guiding principles in classroom management are the following: †¢Consistent, proactive discipline is the crux of effective classroom management. †¢Inside the classroom, we could always expect some disciplinary problems, but some teacher could immediately handle the said problems. Instead of formulating immediate medicine for the behavioral problems, the teacher should focus on how to prevent these predicaments to occur. As much as possible, lets avoid dilemmas because it’s too pathetic for us to cry over spilled milk. †¢Establish routines for all daily tasks and needs. †¢To avoid turmoil inside the classroom, the teacher must ascertain routines from the start of the class, up to the class dismissal. This could also help a lot in saving much time and effort because their work is already in routine. †¢Orchestrate smooth transitions and continuity of momentum throughout the day. †¢As much as possible, the teacher must avoid dull moments inside the classroom to motivate the students to always pay attention to the speaker. The teacher must scheme smooth transitions of activities inside and outside the classroom throughout the day. †¢Strike a balance variety and challenge in students’ activities in the classroom. †¢There should be a variation of activities inside the classroom to avoid the students and even the teacher from being bored. †¢As classroom manager, be aware of all actions and activities in the classroom. †¢Even if the teacher is not around, she is still responsible for the students. That is why she must know the things that are happening inside the classroom and what her students are up to. †¢Resolve minor inattention and disruption before they became major disruptions. †¢Disruptions seem to be part in every classroom and in every lesson. No matter how big or small the hitch is, it could still give so much distraction not only to the teacher, but foremost to the students. That is why, if the disruption is still controllable, the teacher must try to stop it before it becomes too late for her to control the situation, and worse, it could spoil the whole transition of the lesson inside the classroom. †¢Reinforce positive behavior. †¢To motivate the students to always do the good and right thing, the teacher should always pay even the simplest compliments in her students’ actions especially to the appreciating ones. †¢Treat minor disturbances calmly. †¢If a simple rising of the voice could control the simple problem, then do it. There’s no need for you to be hysterical and over-react on something that’s just under control. †¢Work out a physical arrangement of chairs that facilitates an interactive teaching-learning process. †¢Some teachers change seating arrangement quarterly. This is to enhance interactions between the teachers and students. †¢Make good use of every instructional moment. Minimize discipline time to maximize instructional time.

Famous Creative Thinkers Presentation Essay

Famous Creative Thinkers Presentation I choose Carl Sagan as one of the people that I felt has given a great contribution to the world. Carl Sagan was born in Brooklyn, New York the son of an immigrant worker from the Russian Empire. Name after his mother’s mother. Carl had a sister and his mother was very protective of him. Carl’s mother was not up to par to fit in the social life, so she was restricted. When his parents took him to the New York World Fair, Carl was so excited when he saw the burial of a time capsule, stars and other exhibits that would lead to his inquisitiveness about the world. Later in life Carl and others would build time capsules, but these would be sent out into space for other life forms to find and they would contain Carl’s memories form the world fair. Carl’s parents helped his growing interest for science by buying him books about science and chemistry sets. He loved to read the books about science fiction stories, by writers s uch as H. G. Wells and Edgar Rice Burroughs, they made his imagination even wilder his about whether there was life on other planets such as Mars, Jupiter and Venus. Carl attended the University of Chicago and received his bachelors and was a part of the Ryerson Astronomical Society. He got received his Bachelors of Science in Physics, a Master of Science in physics and a PhD In astrophysics and astronomy. Carl was denied tenure at Harvard, because of his scientific advocacy, being widely publicized. Carl Sagan was a great astronomer, cosmologist, author, astrophysicist, science communicator, and science popularizer. Because of his great inquiries as to what did what and how come Carl thought about if there was truly life outside of the earth. He was the first to actually make the first messages that were sent into space. He studied the earth, stars, planets, he made messages that he thought could be understood by the extraterrestrials. He had over 600 articles published that  were scientific and authored or co-authored more than 20 books. The award winning series named Cosmos was also by Carl Sagan. He was a professor in astronomy at the Unive rsity of Cornell; he was part of the NASA as an advisor. Because of the Cosmos people were able to better relate and understand Carl’s ideas about the worthiness of the human race. Carl did his thinking the best way that he knew and that was to do it his way. Because of Carl they were able to learn the high surface temperature on the planet Venus, was due to the dryness. He was also the first to think about Saturn’s moon Titan may have contains liquids on the surface and that the Jupiter’s moon Europa might have oceans. Carl did organized research on such projects as Near Earth Objects, he composed the Deflection Dilemma, which would be deflecting an asteroid away from the Earth, and then it could be possible to deflect it back to the earth. During his career Sagan would be very much criticized as to his soundness, when it came to extraterrestrial life. Carl loved to urge people to listen using radio telescopes to see if they could hear signals from outer space that could help him prove that there were other life forms. Due to the lack of belief call stated a petition and was able to get 70 scientists to sign it advocating the SETI that was also p ublished in his journal of Science. Carl would later go on to explain his theories and use science to reveal them to the world. His life force was dedicated to science. Under President Regan rained there was to be a Strategic Defense Initiative, that would cost billions of dollars but it would develop a defense against nuclear missile attacks, an Carl was against this because he felt that there was no real way to do this and by doing so would unbalance the Soviet Union and United States making progress in the arms agreement. There was an experiment called : The Nevada Desert Experience† is where Carl would later be arrested twice for climbing a fence at the protest at the Nevada Test Site in order to protest against the government for using test sites that were experimenting in the Nuclear weapons and they where they were conducting the detonations. Carl was also noted as a free spirit and free thinker. References Whitehouse, David (October 15, 1999). â€Å"Carl Sagan: A life in the cosmos†. BBC News (BBC). Retrieved August 30, â€Å"American National Biography Online, Carl Sagan†. Wikipedia, The free encyclopedia Bansky is the second person that I choose to write on. Bansky is a very creative artist that did street and wall graffiti, painter, film director and political activist. No one really knew is real name or when he was born. He was the son of a technician, was born in Bristol England. Originally he was trained to be a butcher. Some say that his work is similar to that of Blek le Rat. Bansky was impressed by an artist known as 3D who was a member of a group called Massive Attack. Bansky displays his art to the public but he does not sell photo graphics are reproductions of his work. His first movie was called Exit through the Gift Shop was a disaster. His art is part of the Bristol Underground Scene. He like the way that stencils would help to use less time to complete a project. Bansky hid from the police while using stencils as a cover while he created his work. There was a statement to be made in each one of Bansky’s art works. Bansky works are usually all anti something. He d id not approve of the way that people considered art on surfaces as graffiti. He wanted to show that it was real art and start to do mural and other such art on public building and public places. Bansky, did his first exhibit in Los Angeles at the 33 1/3 Gallery and the exhibit called Existentialism, later he would produce such exhibits like Turf Wars, Monet’s Water Lily Pond, Barely Legal, and Bansky effect. The Bansky effect is a way of not just tagging but using art to express things and making areas brighter and pleasant to look at. There is not a particular technique Bansky used whatever he thought to be use full at the time. Bansky art has been known to be thought as a way of revenge for the underclass. To tag a mother persons art is disrespectful, and represents them taking away power or territory and not upholding the rules. Bansky’s works can be so different but beautiful when he does his art although it is considered graffiti it is beautiful. He developed a quantity of spoof British money notes, where the head was not the Queens but the Princess Diana’s and text was changed from the Bank of England to Bansky of England. Although they were not re al notes today they are of great value. Bansky also was responsible for nine portraits on a bank wall in Palestine on the Israeli’s  West Bank. Bansky has a flare to make a mockery of centralized power, too state that power can work against you. When it came to politics, Bansky was thought to be anti-fascism, anti-imperialism, anti-capitalism, anti-authoritarianism, nihilism, existentialism and anarchism. Bansky used images and visual as a means to create his art work. I felt that h could have made his work more realistic by not adding things to make the true scene a joke. But when there is an artist they can only put what they feel is their style of art. Bansky was also responsible for Money Bart of the Simpsons. I did not see any academic references. Bansky’s art was deprived from art and musicians. References Creative Thinkers†Banksy creates new Simpsons title sequence†. BBC Banksy, Street Art Cult Hero, International Man of Mystery†. The Village Voice./ Wikipedia, The free encyclopedia

Compare miss Havisham and Lady Macbeth Essay

?Compare the presentation of Lady Macbeth and Miss Havisham. Explore how Shakespeare and Dickens present them as disturbed women. Disturbed is a definition of someone who has emotional or mental problems; both Lady Macbeth and Miss Havisham are presented as disturbed characters in one way or another. These two leading women both have characteristics that were not stereotypical of woman at the time periods that the play and the novel were set in; making them immediately appear strange to the audience or reader of that time. Shakespeare and Dickens both present their leading women in very different ways; however some aspects of their characters show similarities. The play Macbeth was set in Elizabethan times, where there was a patriarchal society in which men were superior to women. Women were known by their husbands’ names and were seen more as their husbands’ property than their partners. Elizabethan women were treated badly and disobedience on their behalf was a crime against religion as the society of that time believed that women were made to serve men. However, it was also believed that women were incapable of having evil thoughts or committing devilish crimes. The character of Lady Macbeth goes entirely against the typical Elizabethan woman as she is portrayed as strong and controlling over her husband Macbeth, and is the one to persuade him to commit an act of regicide. This would be shocking to an Elizabethan audience as regicide was known as the worst possible thing you could do, as they believed that their monarchs were sent from God. Miss Havisham is also the opposite of what women in her society were like; she was a spinster. This meant she was seen as a failure as in Victorian times, a woman’s proper purpose was to suitably marry; it was what they were born for. In most of Charles Dickens’ novels, the spinsters and old maids who appear are usually mad, desiccated, boring or secluded. Miss Havisham in Great Expectations is an example, a woman who fell in love and was jilted on the day of her wedding. She lived for the rest of life in her wedding dress, with one shoe on, a wedding cake uneaten on the table, and the clock stopped at the time she found out that her husband-to-be had deserted her. In Shakespeare’s play Macbeth, Lady Macbeth is first introduced in Act 1 Scene 5. She is reading a letter from her husband, immediately the audience see her as a determined and power-hungry character. In her soliloquy she reveals that Macbeth ‘shalt be what thou art promised’ her ambition for her husband to be king and indeed perhaps for herself to be queen is evident here. Shakespeare’s use of the imperative ‘shalt’ displays her controlling nature, showing her strength and masculinity which would appear unusual to the audience of that time. Although at first Lady M/acbeth would seem to be a rather queer character, the audience would not immediately class her as disturbed. Miss Havisham, however, is portrayed as a disturbed character right from when we first meet her in Chapter 8. Dickens first describes Miss Havisham through Pips eyes as he first sets foot in Satis House. The way the house and the room in which Miss Havisham sits is described, ‘no glimpse of daylight was to be seen in it’ immediately lets the reader know that she is extremely disturbed’ the whole house is stopped, including the clocks at the exact time she turned into a spinster. The idea of showing Miss Havisham first through Pip, allows the reader to see what is wrong, however, not fully understand why this is. Miss Havisham appears to be a much weaker character when she is first introduced as Pip describes her as ‘a skeleton in the ashes of a rich dress’. Dickens use of death imagery gives the reader an impression that Miss Havisham’s life is already over and she is just waiting to die. This makes the reader feel somewhat sorry for her at first and wonder why she is living in such a way. Although it is soon evident that Miss Havisham is not as weak as she first appears when she speaks to Pip for the first time; ‘â€Å"Come nearer; let me look at you. Come close. †Ã¢â‚¬â„¢ Dickens also uses imperatives in Miss Havisham’s speech ‘come’ showing that although regarded by all in that era as a failure she still has power to make others do whatever she wants. Both Lady Macbeth and Miss Havisham are both portrayed as evil characters throughout the play and the novel. Some people may argue that Miss Havisham is less evil as she does not murder anyone, however, she does ruin the lives of others, using Estella to break the hearts of men the way hers was once broken. Lady Macbeth does come across as more wicked than Miss Havisham most of the time however she might not be as evil and sinister as we are lead to believe. We realise this when she says ‘stop up the access and passage to remorse’. This shows the audience that maybe she does have some conscience because she knows she will feel guilty. However, another way to look at it is that she just wants to stop this from happening so that she can live happily as queen without guilt pulsing through her. This makes the reader think of her as a selfish woman who is used to getting exactly what she wants without any of the bad consequences that come along side it. The use of the modal verb ‘stop’ is strong and commanding and it doesn’t give the person she is talking to an option to say no. The idea of not being able to say no is repeated at the end of Act 1 Scene 5 where she tells Macbeth to ‘Leave all the rest to me’. Lady Macbeth is saying that no matter what anyone says no one will persuade her to change her mind about the murder of King Duncan. The language shows that she feels like she has the upper hand over Macbeth. Lady Macbeth uses her power to manipulate Macbeth into committing an act of regicide. Miss Havisham also manipulates people into doing things that they do not wish to do. She brings Estella up to get revenge on mankind and at the same time makes it impossible for Estella to love. Miss Havisham uses Pip for Estella to practice on and is delighted when Pip falls in love with her. ‘Well you can break his heart’ she tells Estella when she does not want to play cards with a ‘common labouring boy’. Miss Havisham says this in such a calm way that it seems to the reader that breaking someone’s heart is not a big deal to her, which it isn’t since she just wants revenge on all men. Although both of these women are ‘horribly cruel’ towards the end of the play and the novel they do realise what they have done wrong and feel guilty about it. Although the way they react to the guilt differs hugely. Miss Havisham becomes more normal with guilt and tries to put her wrongs right. ‘†Oh† she cried despairingly. â€Å"What have I done? What have I done? †Ã¢â‚¬â„¢ she becomes a weak, pitiable creature who begs Pip for forgiveness ‘on her knees and is desperate to do something ‘useful and good’ Her regret makes the reader feel sorry for her rather than blame her. Lady Macbeth becomes more and more disturbed with guilt, up until a point where she cannot take it anymore and commits suicide. Her grief must have been extremely bad for her to do this since she would know that she would be going to hell.