Friday, March 20, 2020
Research Paper on Pakistan The textile sector needs massive investments in the value added sector to face the challenges of the post 2005 qouta free regime. Common belief in Pakistan is that the sector is quite vibrant and is investing heavily. While it is true that there have been substantial investments in the sector as a whole, bulk of the investments are in the spinning and weaving sectors and not enough is being invested in the value added sectors of finishing and stitching. In the following brief presentation the impediments will be highlighted but a general structure of the industry as it stands today needs to be understood before the problems can be understood. The spinning sector is a very mature and competitive sector. Pakistan today is a net importer of raw cotton. Every thing from Australian cotton, Egyptian cotton to US Pima is imported. In fact Pakistan today is the second largest importer of US Pima long staple cotton. This goes to show how competitive this industry has become. The weaving sector is broken up in two segments, the cottage industry comprising second hand sulzers and the shuttle looms and the organized weaving sector comprising the most modern air jet weaving sector. The unorganized sector continues to grow since it is considered a cottage industry and free from all regulations like levy of sales tax etc. These produce lower quality products. While investment requirement in the new weaving machines is high, these are the future and produce specialty and high quality products. The capital requirement is very high. Over the years many spinning mills have moved into this sector and haveÃ integrated their units to this ne xt step. This sector is also quite competitive and moving in the right direction. The pace of investment in this sector remains slow, despite being profitable. In the last 2 years China is believed to have invested in 14000 looms compared to about 1000 in Pakistan. There can be no 2 views about the fact that the future in the industry belongs to verticallyÃ integrated units rather than development of the cottage industry. So why is the spinning industry slow in integrating vertically? The next requirement is for setting up of finishing mills both in the knits sector and wovens sector. Many of the projects set up in the knits sector are not world scale, with not the state of the art machinery and their cost of productions are not competitive. In the woven apparel sector there is in fact a shortage of quality finishing plants. Many people are bringing in used machinery which has literally been discarded by the developed world. It is a matter of fact that Levis does not approve any finishing plant for woven apparel products made for them. The fabrics need to be imported. Tommy also does not approve a single dyeing mill which meets its quality requirements. The exception to the rule is the home textiles where the organized sector has invested heavily and has a significant share of the global market. What does this say for the future of the textile industry of Pakistan particularly when countries like China are investing and gearing themselves massively for the quota f ree regime. China is aiming at 25% global share of the textile market by year 2005. Pakistan on the other hand is fast developing its unorganized sector and picks up every piece of junk machinery available in the developed world. So the question is why is the organized sector moving in natural direction. What are the impediments to its investments, particularly when the spinning sector seems saturated and the interest rates are low and there is ample credit availability. The following paragraphs will briefly discuss the impediments in growth of the textile sector. 1) Unimaginable amounts of stuck up refunds of sales tax refunds due to shortage of funds. The sales tax refund rules provide for 50% of the refund within 15 days of filing for the refund in a certain format. The balance refund is payable within 40 days. Can one imagine that refunds, at the time of writing this report are being processed for refund applications received in end October. That means that at best the refunds due in September, refund applications for which are filed in October are under process. Pakistan is the 4th largest producer of raw cotton in the world and the bulk of the cotton comes in the months from September to December during which time the industry purchases its requirements for the bulk of the industry. The pretext of the delayed refunds are scarcity of funds. When the government withholds huge payments of its industry, how can the industry invest. The refund rules provide for refund in a certain time frame the government should follow the laws made by itself. The wisdom of imposing sales tax on raw cotton is not understandable. The government mobilizes huge resources to collect billions of rupees of tax in lieu of sales tax on raw cotton only then to mobilize even more resources to refund these and in the process squeezing the industry out of liquidity which it badly needs to gear itself for the future. In fact, perhaps the BOI can get the figures from the CBR as to what is the gravity of the issue. Also the government should analyze what the net collection from the textile sector is. This would demonstrate net collection of sales tax from the textile industry. Given the fast growth of the cottage industry, it would not come as a surprise if the sales refund claimed exceeds the sales tax collected after accounting for the administrative expences for collections and refunds. Since writing of this report, the CBR has agreed to expedite refunds of sales tax for the spinning sector. This will provide a lot of relief to this sector, but what is needed is a long term clear policy and a policy under which sales tax is not with held unnecessarily. Furthermore a long term policy is required for the whole sector. Suggestion for resolution of this problem As a first step the BOI must make sure that refunds are made within the time frame provided in the exisiting laws. The BOI must together analyze together with the CBR and take the textile industry in confidence in analyzing what is the net collection of the sales tax from the textile industry and if it is necessary to go through the process of collecting such amounts only to refund the amounts. 2) Cumbersome requirements and frequent changes in reporting requirements for the of reporting for sales tax. There are frequent changes in the sales tax rules which require submission of Additional details and unnecessary details. An example is section 73 of the sales tax act, whereby the seller has to make sure that the payments received by him against sales is from the business account of the buyer. The seller needs to have the account number of the buyer. In cases of payments made by pay order/bank drafts also the seller needs to prove payments through the business account of the buyer. The same section requires that payment must be received with 120 days of date of invoice. The CBR should be concerned with collection of its taxes and should not be allowed to force business decisions and levy penalties which may occur due to a bad market or circumstances beyond the control of the buyer and seller. Also new refund rules vide SRO 575 have been made applicable since August 2002, whereby not only have rules been changed, the language is vague And complicated but also the data was to be submi tted in a certain computerized Programmed supplied by the CBR. The programme was untested and had to be Modified resulting in delayed submission of returns. The real issue is that instead Businesses working on their business plans their main focus and time is spent on Their businesses the business men today spend time on meeting the sales tax Requirement for this is the most important task as an inefficient sales tax Management can drive a business out of business. Suggestion Remove unnecessary reporting requirements of sales tax. Simplify the sales tax With consultation of the stake holders and then freeze new changes. 3) Import Duties on machinery and equipment When machinery is imported there is a duty leviable. Duty exemption is available under various SROs which require undertakings that a certain percentage of the production is exported in the next 5years. It has to be understood that machinery imported by any segment of the textile industry is ultimately exported in one form or the other. When an undertaking is given that the production from that unit will directly be exported, it may be depriving the local industry of the required raw material. An example is that finished woven fabrics. These are projects which require huge investments and there is a shortage of much required quality finished fabric in the country. There have been only a few projects set up in the last few years. The production from these would feed the local industry. In order to get the required duty exemptions, the investors commit themselves to export the fabrics themselves rather than supply to the local garment factories. It is needed that this requirement of di rect exports be dispensed with and the project is also allowed to supply to local garment factories for ultimate exports. If quality fabric is available locally, it would encourage setting up of stitching factories. Finishing projects specially have a rather long gestation period. Certain projects set up in the last 2 years valued in excess of a billion rupees have taken more than 2 years to come to even break even levels. Pakistan does not have the necessary know how and there fore these type of projects need to be encouraged instead of levying taxes on import of machinery. What this law does not consider is that it is forcing the mill to export the fabric to another country rather than making the finished fabric available of the domestic industry. The local stitching industry does not have availability of good quality fabric while the fabric maker is forced to export the fabric in order to meet the requirement of export to be elegible for duty free import of machinery. Suggestion Machinery imported for any segment of the textile should be completely duty free without any compulsion of exports. Machinery imported by the textile sector is in one way or the other imported for the purposes of ultimate export and the industry should be freed from all the record keeping and periodic audits. For the projects already set up, the present requirements of duty free import under SRO 554 should be amended to allow indirect exports 4) Income tax Presently on exports a withholding tax is deducted as full and final settlement of tax liability. If a unit exports more than 80% the assessee can pay the withholding tax on the local portion and is not required to file returns. If the tax laws are amended so that a withholding tax at the same rate as export, is deducted on local sales also becomes the full and final settlement. This law actually already exists but the procedure is for indirect exports and payment is made through a SPO ( Special Purchase Order). The procedure is quite cumbersome and difficult to comply with. The difference between the organized sector and unorganized sector will be removed. But the real benefit would be that the producers would be free from tax issues and can concentrate on what they should be spending time on, i.e their business development. It is my opinion that even the tax revenue will increase. 5) Need for making a strategy at the National level to encourage more mills in the organized sector to integerate vertically. The BOI and the ministry of Commerce should clearly define and develop a strategy for the era of quota free regime. A goal should be made to encourage an X number of mills in the organized sector to move upstream into manufacture of made ups. This may involve review of the present quota policy. It should be stressed that in the quota free regime it is theÃ integrated mills that will be able to gear themselves for the new competitive regime. Unless the industry readies itself now, there will be a lot of difficulties in the future. Unfortunately the quota policy has discouraged vertical integeration since quota has been given on performance and apart from a small qnty available through auction, qouta can only be bought with cash payments at exhorbitant rates. This has discouraged much of the organized textile sector to do busiess in the value added sector. 6) A clearly defined policy to fight anti dumping cases, and a permanent team is required to be set up for negotiation of better terms of trade. In future there will be a lot of actions against exports from Pakistan, such as anti dumping duties. The industry finds itself in a panic when ever a new action is initiated. A permanent body needs to be set up comprising prominent lawyers, government officials as well as business who are well conversent with dumping laws. It should also be clearly defined that when an action is initiated who will bear the legal costs. A case in point is the recent dumping investigation initiated by the EU. First, at the beginning of 2002, EU removed all duties on made up exports from Pakistan. The advantage was fully taken by the industry through increasing exports, of course through investments. However the surge in exports was not welcome by producers in the importing countries. There was an apprehension of dumping investigations, however Pakistan made no attempt, diplomatic or otherwise, so that the dumping complaint not be entertained by the EU. Instead one fine day the exporters received intima tion that the complaint was filed and accepted for investigation. After this, there were discussion within the industry as to who will pay the expences for the investigation, with the government refusing to pay any thing. It is suggested that a very strong permanent panel be formed to face these matters. In addition, the more competitive PakistanÃ¢â¬â¢s exports are the more the industry will grow through investments. A permanent team needs to be created which develops strategies for better market access and better terms of access for our products into imported countries. Various international treaties signed by various countries have brought tremendous benefits to even non textile based countries. Exoorts from Jordan to the US are duty free into the US. This has brought tremendous investments in Jordan. Investments in textiles made ups in African states is booming, due to the African Tearty signed by them with the US which allows duty free imports into US goods which are manufactu red in the African states. Pakistan needs to organize and see if it can improve the terms of trade. A permanent body, again comprising competent lawyers, government officials andÃ knowledge and capable business men. There are many issues on which the exporting country can negotiate with the importing country. For example, Pakistan today is the second largest importer of US PIMA cotton. The products made from this go to the US after processing. Can Pakistan not develop a strategy to build up a lobby within the US comprising cotton exporters that products made with US cotton in the US can come in duty free to the US. Pakistan is sure to invest in some massive infrastructure projects in the future. Can this not be linked with again some better terms of trade benefits for its textile exports. Steps such as these can be part of Pakistans over all investment and export strategy. In summary, the textile industry is perhaps on of the few industries in the country which does not depend on any government subsidy or tariff protection to survive. Unfortunately, instead of making itself ready for the quota free regime, the industry is too involved in the day to day issues of taxation, whether it is sales tax refunds, import duty, DTRE rules income tax assessments etc. These are the only subjects of discussion of businesses with the ministries of Finance, Commerce, CBR, EPB and all other government functionairies. The above suggestions are basically to further deregulate the industry and make it more focused and let its entrepruners devote all their attention to business development rather than divert their energies in fulfilling government compliance regulations. Simple tax laws and regulations will go a long way in boosting investments. In addition through the above suggestions the government needs to improve its market access and better terms of trade for exports of Pakistani products abroad.
Tuesday, March 3, 2020
6 Steps to Landing Your Dream Job By The End Of Summer Rather than treating this summer as a slump season, or a time to shirk your duties a bit without getting in trouble, why not put the pedal to the metal and see about scoring big career-wise? Here are 6Ã things you can do to turn your career around and get your dream job by the end of the summer (if you work hard and start now).1. Be a leaderRemember that no one is in control of your career except you. If you start thinking and acting like a leader, people will take you seriously as one. Be confident and clear and start steering yourself in the right direction, rather than waiting to be pushed.2. Leave the family loopItÃ¢â¬â¢s great to rely on friends and family for advice and counsel. But sometimes you can get better and clearer advice if you step out of your inner circle. You can get much better- and much more objective- feedback this way. Find yourself a mentor or a job coach who understands your particular strengths, weaknesses, and goals.3. Sort out your financesYou canÃ¢â¬â ¢t really take any risks or make any moves from tenuous financial ground. Use this summer to get your fiscal house in order. Assess your current situation. Figure out where you need to be, and how far you need to go to get there. Then come up with a concrete plan and implement it. DonÃ¢â¬â¢t forget to figure out what your must-haves are- and what your minimum salary would be in your new position.4. Get clear and communicate that clarityBe able to correctly describe your vision for your career. This will help you make more effective and efficient decisions as you move towards your dream. The key to this is to figure out exactly where your wheelhouse is, and aim for situations in which you can excel.5. Figure out your ideal cultureThe truth is you will do your best work if youÃ¢â¬â¢re in an environment in which you can be yourself and facilitate your own greatness. Ask yourself what conditions help you be your best self at work and make a list. Find a company (or companies) that focus on these conditions as part of their company culture and then move towards getting hired there.6. Self-assessDonÃ¢â¬â¢t just wait for your performance review to figure out how well youÃ¢â¬â¢re doing. Manage your own performance. Figure out where youÃ¢â¬â¢re weak and make a plan to improve. And take a moment to acknowledge your own strengths. These will help you in determining your plan to get into your dream position.
Sunday, February 16, 2020
Social and Situational Crime Prevention Strategies - Research Paper Example The most widely recognized definition of crime prevention in the latter part of the 20th century refers to the difference between social and situational strategies of crime preventionÃ¢â¬âsocial strategies are generally called Ã¢â¬Ëcommunity crime preventionÃ¢â¬â¢ (Stenson, 1991, p. 63). Many argue that the concepts of social and situational prevention are quite contemporary, even though the principles they support are not. This paper analyzes the strengths, weaknesses, and applications of situational and social crime prevention strategies. Social crime prevention focuses mostly on transforming social environments and the impulses of lawbreakers. Social crime prevention strategies hence are likely to place emphasis on the creation of programs, like activity-based courses and youth associations, to discourage existing or possible delinquents from future criminal behavior. Jon Bright claims that one of the main advocates of social crime prevention is the United Kingdom, which Ã¢ â¬Å"aims to strengthen socialization agencies and community institutions in order to influence those groups that are most at risk of offendingÃ¢â¬ (Stenson, 1991, p. 64). On the other hand, situational crime prevention strategies primarily involve Ã¢â¬Ëopportunity reductionÃ¢â¬â¢, like monitoring of activities in public places (e.g. parking lots, shopping malls, etc.) through surveillance equipment, to lessen opportunities for criminal activities. Both social and situational crime prevention strategies are likely to be Ã¢â¬ËmultiagencyÃ¢â¬â¢ in focus, instead of being motivated by a single agency, like law enforcement (Lowman & MacLean, 1992). The top radical criminologist, Jock Young, has identified multiagency crime prevention measures in this way: Ã¢â¬Å"Multiagency intervention is the planned, coordinated response of the major social agencies to problems of crime and incivilitiesÃ¢â¬ (Lowman & MacLean, 1992, p. 64).Ã
Sunday, February 2, 2020
How the recent economic recession has impacted U.S. aerospace manufacturing industry - Research Paper Example This industry is mainly concerned with the manufacturing and planning of new and improved spacecraft to explore the universe, designing aircraft for the transport of the civilians and military services as well as missiles with the aim of national defense. The industry employs nearly 1703000 people retaining the global diverse talents. Owing to the heavy investment in the research related functions a significant percentage of the people employed with the aerospace are scientists, engineers and technicians (Cook, n.d.). b. Short history of Boeing and Airbus Boeing is the leader in the manufacturing of space, defense and security systems and commercial jetliners. A top ranked exporter in US the company serves customers across 90 countries. The products and services of the company include military & commercial aircraft, weapons, electronics, satellites and defense systems, launch systems, advanced communication & information systems. The airline has long history of aerospace innovation a nd leadership. The company has continually expanded its product lines and services to satisfy the growing needs of the customers (Boeing. 2011). Aircraft ranks among the leading manufacturer of aircraft that has propelled the company to the forefront by virtue of customer focus, technological leadership, commercial know-how, and manufacturing efficiency. The company provides a variety of customer services that are tailored to meet the requirements of the operators across the globe. The airline has its headquarters in Toulouse. Owned by EADS, the airline is a global enterprise with nearly 52500 employees. The company has fully owned subsidiaries in China, Japan, US, and Middle East (Airbus, 2011). Economical Crises facing the aerospace Industry The aerospace industry is grappling with a number of challenges because of the capital-intensive nature of the industry and the situation has worsened with the major governments and companies of the world facing one of the worst crises in rece nt decades. The economy across the globe is anticipated to pass through tremendous economic upheaval in the forthcoming period. a. Re-Building Confidence of the Consumer The airlines across the globe reported grim earnings over the last couple of years due to a fall in the ticket sales. The commercial aviation being an essential part of the global economy the airlines across the globe are devising new ways to restore the confidence in air transport. One such way adopted by these companies is through an extensive advertisement campaign. There was a sharp fall in the airline traffic during the recent financial crisis due to the cut-back in business travel. One of the biggest problems faced by the airlines industry is the drastic fall in the demand for air transport. Despite the bailout packages almost all the air carriers have grounded air planes to limit capacity whereas some of the big airless have even retrenched workforce to prune the massive losses (The Federalist Society, 2003). To improve the demand for the air travel the companies can announce some waivers that will lower the cost of air travel thereby making this mode of travel more attractive as well as affordable. b. Security There has been a revamp of all the security standards in the aftermath of the September 11 terrorist attack. The necessary security measures
Saturday, January 25, 2020
Effect of Exchange Rate on Aggregate Demand Shocks The exchange rate helps insulate the economy from aggregate demand shocks but it may need unsettlingly large changes to do so. This paper will examine the extent to which the exchange rate of a currency can be used to insulate an economy from aggregate demand shocks. First, it will define aggregate demand. Second, it will look at the monetary implications of the aggregate demand curve. Thirdly it will look define aggregate demand shocks and their effect on the aggregate demand curve. Fourthly, it will examine the ways in which the exchange rate can be used to reduce the impact of an aggregate demand shock. Finally, the question of whether using the exchange rate as a means of reducing the impact of an aggregate demand shock will be examined to determine whether it is a feasible strategy and whether the amounts required would be unsettling or not. Aggregate Demand (AD) refers to the total demand (d) in the economy (Y) for goods and services at a certain price level and at a certain time. AD in an economy is the sum of all consumption (C), investment (I), government spending (G) and net exports (NX), where NX is equal to total exports (X) minus total imports (M). This can be represented mathematically as:  Aggregate demand is represented by the AD curve, which will show the relationship between price levels and the quantity that producers are willing to provide at that price. The relationship between AD and price is normally negative, showing that the less people are willing to pay, the less firms will produce or, from the other point of view, the less firms charge, the more people will buy. Below is a simple AD Ã¢â¬ËcurveÃ¢â¬â¢: In the chart above, the AD Ã¢â¬ËcurveÃ¢â¬â¢ is represented by a negatively sloped line. If prices (P) are lower, demand (Y) is greater. This negative relationship between price and demand has a number of important monetary consequences. It is necessary to briefly examine these prior to examining the relationship between exchange rates and aggregate demand. Firstly, price levels (P) have a direct relationship to the real value of money. This is because as price levels (P) decrease, the purchasing power of consumers increases, meaning that the real value of the money they hold increases. Likewise, if P increases, consumers get less for the same money, or the real value of their money has decreased. Therefore, P and the real value of money are inversely related to each other. Secondly, decreases in P cause an increase in the real interest rate. Interest rates, the price a borrower pays to borrow, or the return a lender receives for lending, can be expressed as a nominal or real rate. The nominal rate is the amount that must be paid for borrowing, expressed solely in money terms. The real interest rate is the nominal rate adjusted to take account of inflation (p). Thus real interest rates are expressed by the following formula: Thus, the higher p, the lower the real interest rate. Therefore, any increase in inflation will generally lead to pressure on the nominal interest rate to increase, to offset the deduction that will result from inflation. However, as we have seen above, price level decreases add to the real value of money, this is the same as saying that they decrease inflation. A decrease in inflation will mean that real interest rates are now higher than they were before the decrease in inflation. Therefore, price level decreases raise real interest rates and cause pressure for interest rates to be reduced. Thirdly, lower prices increase the international competitiveness of the economy, and this should be reflected in increased international demand for the economyÃ¢â¬â¢s exports, causing a rise in net exports and thus in the aggregate demand. Now we will look at aggregate demand shocks. A demand shock is an event that is sudden and unexpected, and has the effect of measurably affecting the demand for goods and services in the economy, either positively or negatively, for a temporary period of time. That is to say, the event shifts the AD curve, either to the right or to the left. A positive demand shock increases demand and shifts the curve to the right, resulting in higher prices. A negative demand shock decreases demand, shifts the curve to the left, and thus leads to a decrease in prices. Any number of events could constitute a demand shock, from an unexpected tax cut that increases consumer spending, to a dip in consumer confidence that decreases consumer spending. Likewise, an economic boom in for example China could result in higher exports to China, increasing demand. The danger of an aggregate demand shock is that they are a cause of uncertainty in the economy. Uncertainty makes it difficult for firms, government and consumers to budget properly and make the most effective investment and saving decisions. Both positive and negative demand shocks can be harmful, however, negative shocks are generally more feared. A negative demand shock, such as a drop in consumer spending, will lead to price decreases and the 2008 global financial crisis has been traced to such a demand shock in the US, which led to a fall in house prices, causing problems in the US subprime mortgage sector that then extended to the rest of the financial sector and wider economy. However, positive demand shocks, such as ChinaÃ¢â¬â¢s increased demand for raw materials to fuel its economic growth have led to price increases in a number of important commodities that have also caused economic difficulties around the globe. Therefore, the consensus is that demand shocks of either ty pe are dangerous and any means of dampening them available to governments are desirable. So could exchange rates be used to dampen a demand shock? A brief look at the relationship between monetary factors and the demand curve will demonstrate that exchange rates can be used to affect the demand curve. Therefore, in a positive demand shock, exchange rates could be used to decrease demand and in a negative demand shock, exchange rates could be used to increase demand. The relationship between two currencies may be nominal (e), or it may be real (RER). The real exchange rate takes into account variances in price levels in the two economies. P represents price in the domestic economy and P* the price in the foreign economy.  The exchange rate can be used to increase or decrease the price of goods in the economy relative to other economies. This will in turn impact on the international demand for a countryÃ¢â¬â¢s products. This will impact on the net export figure (NX). A higher exchange rate will decrease international demand and thus will pressure a demand curve towards the left. This could be used to temper a positive demand shock that had increased demand for goods and pressured the curve towards the right. Likewise, a lower exchange rate will increase international demand, increasing exports and shifting the demand curve to the left. This could be used in the event of a negative demand shock to reduce the impact of the shock. Basically, if any sector of demand changes rapidly, the government can seek to push exports in the opposite direction by making them more or less expensive. It is a simple idea and manipulating exports may be more desirable than manipulating other elements of demand, such as government spending, and may be easier to manipulate than, for example, consumer spending. Finally, the question must be asked, is the approach feasible? A central bank can quite easily impact on exchange rates by trading in its own currency. Buying will increase the exchange rate and selling will decrease the exchange rate. However, in order to move a currency value significantly, a central bank would be required to buy or sell a Ã¢â¬ËsignificantÃ¢â¬â¢ amount of a currency. So what constitutes a Ã¢â¬Ësignificant amountÃ¢â¬â¢ in the foreign exchange market? The global currency market is the largest and most liquid asset class in the world. The accepted size of this market in 2007 was generally put at about two trillion dollars a day. That would make it ten to fifteen times the size of the bond market and fifty times the size of the equities market. That means on a normal trading day, two trillion dollars passes hands. It would take an enormous amount of selling or buying by a central bank to make a dent in this market. A central bank that stepped in to buy or sell a couple of billion dollars worth of their currency would barely be noticed on the market, especially for the major currencies. And the question arises, how would a government fund such an intervention? It is also estimated that about 85 to 90 percent of the forex market is made up of speculators, meaning that attempts to manipulate exchange rates would be vulnerable to massive speculator bets which would have the power to undo any effect a government had on price movements. Also, given the side effects of exchange rate changes, such as the relationship of the exchange rate to inflation, it is likely that the cost of moving the exchange rate, just to get the indirect benefit of altering net exports, would outweigh the benefit. Therefore, it is concluded here that while exchange rates could be manipulated to insulate the economy from aggregate demand shocks, it amount of intervention required would be too large to justify the measure. Bibliography Dutt Ros, Aggregate demand shocks and economic growth, Struct.C.Ec.Dy 18 (2007) 75-99 Hargreaves-Heap, S.P., 1980. Choosing the wrong natural rate: accelerating inÃ ¯Ã ¬Ã¢â¬Å¡ation or decelerating employment and growth? Economic Journal 90, 239Ã¢â¬â253 Krugman Obstfeld, (2005) International Economics: Theory and Policy, 6th ed., Pearson: London Krugman, (1987) The narrowing band, the Dutch disease and the competitiveness consequences of Mrs. Thatcher, Notes of Trade in the Presence of Dynamic Scale Economies, Journal of Development Economics (Oct) 1987 p. 321 Krugman, (1998) The Age of Diminishing Expectation, MIT Press: Cambridge MA. Li, X.M., 2000. The Great leap Forward, economic reforms, and the unit root hypothesis: testing for breaking trend functions in ChinaÃ¢â¬â¢s GDP data. Journal of Comparative Economics 28 (4), 814Ã¢â¬â827 Perron, P., 1989. The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis. Econometrica 57, 1361Ã¢â¬â1401 Romer, D., 1996. Advanced Macroeconomics. McGraw Hill: New York. Romer, D., 2000. Keynesian macroeconomics without the LM curve. Journal of Economic Perspectives 14 (Spring (2)), 149Ã¢â¬â169 Tobin, (1975) Keynesian Models of Recession and Depression, Am. Ec. Rev. 65, 195-202 Footnotes  Krugman Obstfeld, (2005) International Economics: Theory and Policy, 6th ed., Pearson: London  Krugman, (1998) The Age of Diminishing Expectation, MIT Press: Cambridge MA.  Dutt Ros, Aggregate demand shocks and economic growth, Struct.C.Ec.Dy 18 (2007) 75-99  Krugman, (1987) The narrowing band, the Dutch disease and the competitiveness consequences of Mrs. Thatcher, Notes of Trade in the Presence of Dynamic Scale Economies, Journal of Development Economics (Oct) 1987 p. 321  Tobin, (1975) Keynesian Models of Recession and Depression, Am. Ec. Rev. 65, 195-202  Perron, P., 1989. The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis. Econometrica 57, 1361Ã¢â¬â1401  Romer, D., 1996. Advanced Macroeconomics. McGraw Hill: New York.  Romer, D., 2000. Keynesian macroeconomics without the LM curve. Journal of Economic Perspectives 14 (Spring (2)), 149Ã¢â¬â169  Li, X.M., 2000. The Great leap Forward, economic reforms, and the unit root hypothesis: testing for breaking trend functions in ChinaÃ¢â¬â¢s GDP data. Journal of Comparative Economics 28 (4), 814Ã¢â¬â827  Hargreaves-Heap, S.P., 1980. Choosing the wrong natural rate: accelerating inÃ ¯Ã ¬Ã¢â¬Å¡ation or decelerating employment and growth? Economic Journal 90, 239Ã¢â¬â253
Friday, January 17, 2020
In todayÃ¢â¬â¢s society, a lot of people tend to take for granted what they have. Every once and a while, something drastic will ensue them, and thatÃ¢â¬â¢s when they finally grasp whatÃ¢â¬â¢s been right in front of them the whole time. In many different societies, for example the societies in The Hunger Games, and Anthem, the individuals that are living there are forced to listen to the ruler, or rulers, do not have an opinion in some of the choices that are made for them, and are also forced to accept the rule of selflessness. Based on the themes of the Power of Knowledge, the Image of Self, and the Consequences of Free Will, the novella, Anthem, and the film, The Hunger Games express similarities and differences regarding the dangers of a Totalitarian government and its effect on its citizens in order to teach the reader to be blessed that they have a democracy and that the individuals of the United States have it really easy compared to other countries, and even societies i n books or movies. The Power of Knowledge is the result of having or not having knowledge. Being knowledgeable is not just one quality, but is many and a process of learning, experiencing, knowing and understanding. In the book Anthem Equality 7-2521states, Ã¢â¬Å"But we must never speak of the times before the Great Rebirth, else we are sentenced to three years in the Palace of Corrective DetentionÃ¢â¬ (Rand 19). This quote from Anthem is an important example of the Power of Knowledge because what Equality is saying is that every person in his town has the knowledge of what happened before the Great Rebirth, they just choose not to bring it up because they are petrified of what their punishments will be. However, an example of the Power of Knowledge from The Hunger Games is when Katniss recognizes the weakness of Seneca Crane, which is not having a winner of this yearÃ¢â¬â¢s game, and uses that to her best advantage to force Seneca to let both her and Peeta win. This is important because if Katniss had not realized that doing so was his weakness, she and Peeta would have both had to kill themselves because theyÃ did not want to live without each other. In conclusion to these two different pieces of evidence, they are also able to be compared by noticing the facts that if both these characters did not take into account the opinions or beliefs of others, there would never be a way to be different, or a way out. Image of self is the way one views his or herself, the ability to know our own flaws, strengths, bad habits and limits. When life starts to get rigid, most people lose hope in themselves because they feel as if they are not sturdy enough to stand anymore. In a lot of books, or even movies, this is a major problem that most characters face. In this case, from Anthem, the teachers always pointed out the flaws in Equality 7-2521, Ã¢â¬Å"There is evil in your bones, Equality 7-2521, for your body has grown beyond the bodies of your brothersÃ¢â¬ (18). This quote would be essential to the topic of Image of Self, because Equality already knew that he had all these Ã¢â¬Å"differentÃ¢â¬ qualities, and knew that he was diverse from his brothers, yet he tried to remain the same by ignoring them. However in The Hunger Games, Katniss only sees the flaws that are in her, and chooses to ignore the compliments that everyone is saying to her. When life puts individuals in the situation that Katniss and Peeta are in in the film, it is important to deposit all the negatives away and to only focus on the positives, no matter how hard they may be to see. This is a contrast between the novella and the film because in Anthem Equality knows that he is different, but just ignores the fact that he can do nothing about it, but in The Hunger Games, Katniss does not let anyone try to make her better because she believes she will never be right, or in a way better than the other characters. Although the quotes are contrasting, the similarity in them is the fact that Equality and Katniss both know they are different than the rest, yet overcome them in some sort of way. The last theme being focused on is Consequences of Free Will. Consequences of Free Will means a person innate ability to make decisions with his or herself. I n a dictatorship, or the governments in Anthem and The Hunger Games, individuals are owned by the group, and they also have no right to lead his or her own life. This is known as collectivism. In todayÃ¢â¬â¢s society,Ã making decisions for someoneÃ¢â¬â¢s own good is very hard because everyone is trying to impress others. For example, in Anthem Equality states Ã¢â¬Å"It is a sin to think words no others think and to put them down upon a paper no others are to seeÃ¢â¬ (17). The importance of this quote to the Consequences of Free will is that Equality is not able to express his own way of living because it is illegal to express his own being. In The Hunger Games, something that readers would learn regarding the Consequences of Free Will would be the idea that the tributes did not really know who to trust, and when, because they did not know when that person would turn against them. Similarly, these two pieces of information would go to together by both dealing with the idea of being able to show a personÃ¢â¬â¢s own true colors. In addition to them being similar, they would differentiate by the thought of trust, and expression. In Anthem, we as readers are seeing the idea of expression, but in The Hunger Games, we are watching how others are putting their trust into some, and how they are also putting up walls to others. Although these two societies are supposed to be completely different from the one that exists today, in some ways they could be seen as having the same Ã¢â¬Å"controllingÃ¢â¬ effect on the citizens. In our government, citizens have numerous more rights than other countries can even think of having, yet all of us choose to all try to be the same. Why is that? Why do individuals all strive to have the same hair, or wear the same clothes? Everyone should embrace our right to be dissimilar, and show the world that each and every one of us are not afraid to be ourselves, because there is no punishment that will be rewarded to us in long run.
Thursday, January 9, 2020
You can bite into an apple to eat it, but you probably dont eat a mango the same way. The peel of a mango fruit is tough, fibrous, and bitter-tasting. Yet, what if you do eat the peel? Is it good for you? Will it hurt you? Risks Although mango skin contains many healthful compounds, you might wish to skip the peel if you are sensitized to urushiol, the active chemical in poison ivy, poison oak, and poison sumac. Some people get dermatitis from handling or eating mangoes. In more extreme cases, exposure can cause difficulty breathing. The peel contains more urushiol than the fruit, so its more likely to produce a reaction. Even if you have never had a reaction from touching poison ivy or eating mango skin, you need to be aware of the risk. You could have been exposed to urushiol-containing plants many times or all your life and suddenly become sensitive. The other potential health risk from eating mango peel comes from pesticides. Since most people, at least in the United States, tend to remove the skin of the fruit, the fruit is often sprayed. If you wish to eat the skin, your best bet is to eat organic mangoes. Otherwise, be sure to wash the fruit before eating it to minimize pesticide residue. Benefits Although mango peel causes problems for people sensitized to urushiol, the skin is rich in mangiferin, norathyriol, and resveratrol, powerful antioxidants that might confer protection against cancer and other diseases. Mangoes are high in fiberÃ¢â¬âespecially if you eat the peelÃ¢â¬âas well as vitamin A and vitamin C. A 2008 study conducted by Oklahoma State University found eating mangoes might help control blood sugar and cholesterol and reduce body fat. The team found that eating mangoes reduces levels of the hormone leptin, a chemical that regulates energy consumption and storage and helps regulate appetite. Weight Control The potential weight loss benefits are due primarily to compounds found in the skin of the mango, not the fleshy fruit. Research conducted by the University of Queensland School of Pharmacy found that mango peel extract inhibited adipogenesis, or fat cell formation. Although there are many different types of mangoes, two varieties scored particularly well with respect to fat inhibition: Nam Doc Mai and Irwin. Peel extract from the Kensington Pride variety had the opposite effect, actually promoting adipogenesis. The researchers noticed that the effects were similar to those seen from resveratrol, a well-known antioxidant found in red wine and grapes. Sources Taing, Meng-Wong et al. Mango fruit peel and flesh extracts affect adipogenesis in 3T3-L1 cells. Food Function.NCSI Research Finds Health Benefits in Mangos. Oklahoma State University Department of Nutritional Sciences.