Money & Banking Assignment Example | Topics and Well Written Essays - 500 words

Money & Banking - Assignment Example al interest rates do not stimulate consumers and lowering the interest rates to 0% do not translate to reduced commercial bank lending rates (Krugman 1). In this case, the demand for money remains perfectly elastic as monetary policies by the central bank fail to arrest the situation. In this situation, reducing the inflation rate too close to 0 % leads to deflation (Krugman 1). Even if the central bank maintains the nominal interest rates are zero, the eminent deflation will raise the real interest rates to significant levels. Increasing money supply in this case derives no economic effect since interest rates cannot fall further. Indeed, in a â€Å"Money Trap† situation monetary injections into the economy by the central bank do not reduce the interest rates depicting the ineffectiveness of monetary policies. A â€Å"Money Trap† situation relates to a condition where any monetary policy to reduce the interest rates during economic recession is futile and creates a recurring crisis that involves consumers, commercial banks, and the central bank. The â€Å"Money Trap† situation manifests in Europe where efforts to rescue the euro from the economic crush led to looming deflation and reduced economic growth (Krugman 1). Central banks regulate money supply by buying or selling government bonds. The buying of government bonds by the central bank reduces short-term interest rates and enhances money supply by enabling commercial banks to access additional capital that increases lending and liquidity. Quantitative easing refers to unconventional monetary policies initiated by the central bank to buy government bonds and other relevant securities with the intention of lowering interest rates and enhancing money supply in the economy (BBC 1). Quantitative easing does not entail printing more money and is only applicable when short-term interest rates are at or approaching 0 %. The US Federal Reserve initiated a $4.5tn bond-buying Programme in December 2008 to drive the

Country development report Essay Example | Topics and Well Written Essays - 2250 words

Country development report - Essay Example From an international dependency theory, Kenya relies heavily on western countries on tourism, exports, and imports. However, the foreign organisations repatriated investment exchange from the Kenyan economy. The structural patterns showed that Kenya has fragmented an imbalanced urban and the rural fabrics, which signifies high unemployment rate in the urban leading to informal settlements like slum. Development forms the main agenda of any progressive nation. Although economic progress forms the essential part of development, it is not the only aspect of development because economy is not the only aspect of development (Sen, 1999; Orwa, 1992). Therefore, development is a multidimensional process that requires reorientation and reorganisation of the social and economic systems. From a nonprofessional’s perspective, economic development should improve wealth output and income; however, it involves other changes like the surgical changes of administrative, institutions and social fabrics (Edet-Nkpubre, 2013). Besides, the process aims to change the beliefs, customs, and attitude of the people to focus on certain agendas that forms the receipt for development and avoid issues that may jeopardise growth associated with development (Mshomba, 1997). A holistic approach of defining development is based on a national perspective, which also may require international perspective a nd the social system (Scanteam and Norad, 2009). The objectives of this paper involved synthesising the four main theories of development namely the linear stage, neoclassical counter-revolution, structural patterns, and international dependence from a Kenyan perspective. These theories form the principal concepts for the explanation and interpretation of development efforts of a country selected for instance Kenya. Kenya is located on the east cost of the

Canadian Tire Essay Example | Topics and Well Written Essays - 1000 words

Canadian Tire - Essay Example anadas largest retailer, it is asserted that about 90 percent of Canadians live within a 15-minute drive of a Canadian Tire store and that at least 40 percent of Canadians shop at Canadian Tire, which has 487 stores across the country, each owned and operated by an associate dealer. This essay therefore examines the progress that Canadian Tire since its formation. Specifically, the paper explores the company’s achievements, challenges, and weaknesses, further explaining the reason it is my favorite company. As mentioned earlier, the Today Canadian Tire is today a multibillion dollar corporation despite its beginning as a humble and a small company. Having been founded in 1922 by the two brothers, the firm originally operated as a tire store. They two brothers named the company Canadian Tire with the thought that such a name would make it sound big. Strange enough, this strategy worked since currently, almost every town in Canada, regardless its size, has a Canadian Tire store. The first Canadian Tire store became operational in 1934 in Hamilton, Ontario. However, the first Canadian Tire gas station was opened in 1958 during which the company introduced its first Canadian Tire money service. However, the firm would open its first financial services section in 1968. The firm’s progress was evident early since by 1980 the company’ revenues had exceeded the $1 billion mark and its employees had started sharing its profits buying its stock. In 1993, the company recorded huge e xpansion in its operations and revenues leading to the formation of the Canadian Tire Foundation in 1999 to help needy families. Following the expansion of the 1990s was the 2001 opening of most of the firm’s stores seen today (Data Monitor, 2007). However, Canadian Tire continues to grow even in current business environment, which is marred with numerous business issues and challenges. The company, as any other, has faced many challenges over the years in which it has remained in

Discussion Board Essay Example | Topics and Well Written Essays - 750 words - 3

Discussion Board - Essay Example They not only bring with them terror for the common citizens but also introduce a huge dust of alcohol, abuse of drugs and many other forbidden things in the society. The future generation should be made to stay away from this peril as much as possible. Studies show that these young people are those who are at frenzy with their home and family or else the ones who do not have any one to look after them in their childhood and teenage years. They have an inferiority complex attached with their souls, which they very dearly want to get rid of. The crimes give them pleasure for certain time duration and heal their wounds but actually these never leave a lasting impression on their personality, rather they become more evil and bad. These youth sometimes, are the young black and brown fatherless ones who live within the inner streets of our cities who do not have any mentors, ministers or monitors to look after their needs and wishes. They are the ones who feel left out and think of themselves as nothing more than an ordinary piece of crap for the whole society and human era. Poverty and lack of education in their lives make them the most vulnerable amongst all human populations of any country or for that matter, the world. The organizations, not really the ones that are famous and well known, are also involved in organizing crimes, which are exploiting the younger generation of today. These create networks between their different branches and then go about performing their so-called duties to the society in a negative fashion. Mafias, gangs, triads and many more are just a few to be named as the well-set organizations in today’s world who are organizing crimes, hiring people for the same and then committing the evil through these people, mostly involving the youth. These organizations are also quite diligent in spreading the use of drugs and alcohols in the young blood. They operate in a secret capacity and can’t be easily tracked down by law

An Ancient Tragedy Oedipus King Essay Example | Topics and Well Written Essays - 1250 words

An Ancient Tragedy Oedipus King - Essay Example This is because; it utilizes the universal literary devices in a very effective manner. As will discuss, in this paper. The play is about a young boy, and his parents. The boy’s name is Oedipus. He was the son of a king (Laius). The king finds an oracle, which was predicting the fate of his son. The oracle was foretelling that the king’s life would be taken away by his own son, who would then take over his wife. The son’s sole intention of killing his father was to marry his own mother; due to this, when Oedipus was born, the king tied his legs and discarded him on a mountain, with a hope that nature would take over the role of eliminating him from the world. This was a strategic manner, of preventing the oracle’s prophecy from taking place. Unfortunately, the young boy did not die. He was saved by a shepherd and landed on another king’s palace (King Polybus). Polybus was the king of Corinth. When the shepherd handed him Oedipus, the king took him i n whole heartedly, as he did not have a son of his own. Oedipus grew up believing that Polybus was his real father. However, as time passed, Oedipus began questioning his parentage. He decided to consult with Delphic god and heard some word leading him to Laius. He fled from his foster father’s house. During his flee; he unwillingly murdered his real father. Coincidentally, when he went to Thebes, he answered a riddle correctly. This earned him a ticket to the bereaved king’s house. He took over the kingship and married the king’s wife. They were very successful in life and bore children. However, there came a great calamity in the town. On consulting the oracle, it was realized that he there was blood guiltiness. Oedipus denounced the crime, as he was not aware of it. He puts his foot forward to track the person responsible for the crime. Gradually, the play reveals that Oedipus is the man responsible for his own father’s death. One of the major themes o f this play is the theme of fate. To begin with, the oracle to Laius states clearly Laius’ fate; â€Å" he would demise a victim, at his son’s hands.† (711-714). In addition, Oedipus says â€Å"I was destined to sleep with my mother†¦I was fated to take the life of my father† (791-793). Both oracles show that fate was the determinants of the main characters life, and so they could do nothing about it. The theme of fate and fortune recurs in many parts of the play. For instance, fortune made it possible for Oedipus life to be saved from the mountains. Fate made Oedipus start questioning his parentage and made him flee away from his foster father’s house. The killing of his real father was an act of fate. The manner in which Oedipus came to sleep with his own mother can only be explained by fate. It is also fate that led Oedipus, to his real father’s kingdom. Most incidences in the play are beyond human understanding and can only be expla ined as destiny. Fate is a common theme amongst many Greek writings. The writer of this play was not an exception and utilized this theme perfectly. This theme helps explain things that are beyond human understanding, and hence is considered as a very strong literature device. Another theme of the play is that of freewill. The play reflects that human’s freewill has its own limit. As much as human beings have a desire for things to go according to their own wish, it is not always possible to accomplish this. For

What is Covenant in the Old Testament sense Research Paper

What is Covenant in the Old Testament sense - Research Paper Example These include Abraham, Noah and Adam among many others. A covenant formed an important component of the biblical history and modern day theology. The flow of the biblical covenants includes (Mason 177): First of all, God made a covenant with His Son regarding the elect before the creation of the universe and consisted of the Father promising to bring to His Son all the people the Father had given Him (John 17: 9-24 ; 6:39). Manifestation of the covenant occurred in the world through the sequence of additional covenants between God and individuals. These include Adam (Gen 2: 15-17), Abraham (Gen 17), Noah (Gen 9:12-16), Mt Sinai covenant with Israelites (Ex 34:28), David (Sam 7:12-16) and New covenant believers (Jer 31:31-37). All the additional covenants involved the ‘Covenant of Grace’ when God establishes covenants with His elect with the promise of salvation through Faith in Jesus Christ (Mason 178). According to some theologians, there is only one covenant referred as the covenant of redemption within which all other covenants originate. This involved the agreement between the Father and the Son that gave the Son as Redeemer and head of the elect. As a result, the Son took the place assigned by the Father voluntarily. This formed a twofold assurance of Son as a guarantee and surety to fulfil the requirements of God’s laws. ... Covenant in Hebrew depicted the development of God’s covenant ranging from the time of creation to the time of the new covenant. In Arabic, covenant involved the contract binding humanity and God. The concept of covenant provides a distinctive and unique fellowship with God. This fellowship depends on legal covenant, and this implies the existence of dependable and stable element in Old Testament religion (McAleese 237). Concepts of Covenant Faith inspiring Fellowship The covenant concept gave the Old Testament people a mighty anchor for their faith. This allowed them a vantage ground with their God where God remained obligated to them through the covenant. He remained to be their God, and they become His people. For instance, this covenant background enabled Jacob cling to the angel until He blessed him. This covenant required people turn away from their sins after which they could claim God’s favour (Wood 133). Exclusive Fellowship The covenant established exclusive f ellowship between Hebrews and God. Hebrews remained as His chosen people, and He remained Yahweh their God. The covenantal idea formed a background for the Jewish religion, and it demanded exclusive loyalty to preclude the possibility of multiple loyalties in other religions. The illustration of loyalty to God took place through marriages, where Hosea, Ezekiel, and Jeremiah charged Israelites against adultery. The expression of God as being their God and them being His people comprised of the legal formula taken from marriage sphere and attested through legal documents from Ancient Near east (Hosea 2:4). This explains why prophets such as Isaiah frowned on alliance made by Israelites with their neighbours (Wood 133). Douglas Stuart Guidelines on Old Testament

Crooks Essay Example for Free

Crooks Essay Crooks as the biggest victim on the ranch discuss Monday 24th October 2011 In the novel ‘Of Mice and Men’ Steinbeck presents Crooks, the black stable-buck as the biggest victim on the ranch because of his race. Crooks is also the most damaged person, emotionally and physically. He has a crooked back and has begun to mimic the cruel and violent behaviour of the other men on the ranch. The impact of his loneliness also makes him push people away, leaving him even more lonely and segregated. The other men exclude Crooks because he is black. He is not allowed to go into the bunkhouse with all the white men because they are racist and follow the racist behaviour of segregation. It is clear that Steinbeck is critisising wider society through his description of Crooks. Crooks has his own room ‘had his bunk in the harness room’ he lives alone and is no more important than the animals symbolised by the nearness to the animals. He is alone all the time and gets lonely but never admits it because he is too proud. Steinbeck show’s the irony of Candy saying ‘must be nice to have a room all to your self’. When Lennie comes in to his room, Crooks has right to ask him to leave but instead acts as though he didn’t want Lennie to stay. He says – ‘come on in and set a while†¦long as you wont get out and leave me alone. ’ The ellipsis’ show his hesitation after he admitted he wants the company he realizes and changed it around to say he wants to be alone. This is so Crooks can maintain his pride and his dignity. He his so lonely that he admits to Lennie – ‘just a guy talking to another guy doesn’t matter if he understands. ’ This tells us Crooks is happy talking to Lennie even though Lennie does not understand most of the things Crooks is saying. It is the company and the talking to another human that matters to him. Steinbeck also adds that Crooks ‘reads a lot’. Steinbeck implies that even though Crooks is treated badly he could be the most educated worker on the ranch has a better understanding of things than most of the other men and is wiser because he is older and has seen more things. Also he has a ‘Californian Civil Code’ book, because he has this book and reads it often he knows a lot about the laws of discrimination in different areas. He is interested in is rights as a black man unfortunately, despite his knowledge Crooks is unable to change anything. Slim is the only man who treats Crooks sympathetically. He respects Crooks more and talks to him some times. Slim is ‘kind’ and ‘is a good listener’ but Slim and Crooks are the opposite- Slim is respected and has power whereas Crooks is disrespected and beaten by the men because of the colour of his skin. Slim is a ‘tall man’ who is ‘capable of killing a fly on the wheelers butt without touching the mule’ but Crooks was just a ‘stable buck, nigger with a ‘crooked back’. Through this contrast, Steinbeck provokes pathos about Crooks’ life. Ironically, even Slim is effected by the hardship on the ranch casually drowns four pups. Steinbeck depicts Crooks as the most physically damaged person on the ranch. One of the reasons for this is that the white men beat Crooks, just because he was black. The boss uses Crooks to let his anger out – ‘the boss gives him hell when he’s mad. ’ Even though the boss hired Crooks to do a job he beats him when he is angry, this shows Crooks is of a low status on the ranch and that he matters the least. The men are also very cruel to Crooks when they say ‘ Jesus we had fun. They are referring to a time when they beat Crooks. This is very cruel he had no way of defending himself by fighting back because he has a crooked back and is much weaker he also has no one on his side. What is more brutal is that they did it just for pleasure this suggests that the ranch is corrupting everyone. Steinbeck warns us of the consequences of brutality in the wider world. Furthermore the cruelty Crooks faces made him cruel to Lennie when he says – ‘I don’t blame the guy you travel with for keeping you outta sight. ’ and ‘what if he don’t come back. Crooks wants to frighten Lennie and is clearly jealous of the companionship he has with George. When ‘Crooks face lightened with pleasure in his torture’ it shows that Crooks has learnt from the other men how to be cruel. This is also another way he has been damaged emotionally by the ranch because most of the men become cruel and it is a violent world where only the fittest will survive. Crooks wishes that he could have what George and Lennie have so he gets dragged in to the dream against his better judgment – ‘Never a god dammed one of em gets it just like hea ven. Here is Crooks talks about men trying to get land for themselves. He does not believe in God because his life has been so bad that there cannot be a God but he still equates land with heaven. Crooks is lonely and has a room to himself on the ranch and in it there were ‘hung broken harness strips in process of being mended, strips of new leather. ’ Ironically ’Being a stable buck he was more permanent than other men’ His permanency does not give him status he is all alone and unlike the bunk house where games are played in the evenings his room is filled with work objects so he would not get much time to relax or rest. Also in his room is ‘a range of medicine bottles for himself and the horses. ’ This is another example of him being no more important that the animals and also part of the discrimination against him. Steinbeck depicts Crooks as a victim by the description of his physical appearance. – ‘His body was bent over to the left by his Crooked spine’ His lean face was lined with deep wrinkles, and he had thin, pain-tightened lips which were paler than his face. ’ His body is bent over because a horse has kicked him on the ranch so the ranch damages him physically. His lined face shows the evidence of the brutality of the ranch, he is older and weaker because of the hard work he has done and his thin, pain-tightened lips show the pain he is in. yet he still has to work everyday and he tries to soothe the pain by repeatedly applying liniment to his back. This reminds us of his pain – ‘he poured his liniment into his pink palmed hand. ’ Although Crooks is damaged by the ranch and has no status, he is a very proud, dignified man who wants people to respect the few rights he has, ‘you got no right to come in here’ he said to Lennie because his room was the only thing people has respect. He has read about black rights, he is interested in what rights he could have in other places. Although Crooks had the right to ban Candy and Lennie from his room the desire for company overrode this. He was happy to have the company of the two men, ‘well, why’n’t you kick ‘em out? ’ ‘I di’nt care much’. Steinbeck makes us sympathise with Crooks as he is presented as the biggest victim on the ranch because he is damaged mentally, physically and emotionally. Steinbeck also makes us sympathise with Crooks because he is lonely and how he is lonely from the isolation from the other men.