Aristotle, Plato, And Rousseau What Is Natural And The...

Professor Graham MPP 601.01 March 19, 2016 Aristotle, Plato, and Rousseau: What is Natural and The Nature of Man As mentioned in the essay prompt, authors in this course have used the term(s) nature/natural in various ways to frame and support their arguments. As I identified in my previous paper, â€Å"In Book 1 of Aristotle s Politics, Aristotle begins by defining the city and or political community while also making the case that nearly everything exist for the sake of achieving some sort of good.† It is here that Aristotle introduces the concept of what is natural. He does this by laying the foundation of his political theory and arguing that 1) the city exist by nature and 2) politics is â€Å"natural† because man is by nature a â€Å"political animal†. In the Republic of Plato, Plato first uses the term â€Å"nature† in describing a state of being. He later uses the term in the context of the identifying the â€Å"nature of justice†; the central theme and purpose of The Republic, the notion that it is better to be just than unjust. In A Discourse on Inequality, Rousseau s first use of the term â€Å"nature† is in the context of describing the way things just are. Over time his use of the term shifts as his philosophy on human nature/the nature of man is expressed. While each of these authors use the term nature/natural in very different ways to support their arguments, they also use them similarly. Throughout their works, their use of the term(s) are both singular and multiple/plural.Show MoreRelatedHuman Nature : Good Or Evil1053 Words   |  5 PagesHuman Nature: Good or Evil All ideologies, including some economic ideologies, produce theories of human nature in order to establish fundamental human rights and to establish a more productive form of government. 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A grand idea but is it so simple? If Man creates society to protect this arbitrary concept, does society have the right to take this right away? John Rawls felt that society was responsible for deciding who properly owns propertyRead MoreThe Good Ghanaian Society 1068 Words   |  5 PagesThe Good Ghanaian Society While the end of that search [of the Good Society] remains elusive, I am convinced that the search itself isn’t illusive. –James O’toole What constitutes a good society to each and every individual within that society would be a different answer. This is because we speak different tongues, desire different ends, and have different basic assumptions about where the Ghanaian society, and the corporations we work in, should be heading. Despite this kaleidoscope of opinionsRead MorePolitical Science And Political Philosophy Essay3559 Words   |  15 Pagespolitical conflict. Political philosophy will help the citizens to understand why things need to be changed.†Political philosophy explores the nature, principles, and rationale that underlie the exercise of government†.[Hudelson,1999] Plato, Aristotle, Machiavelli, Karl Marx, Thomas Hobbes, john Locke, Jean-Jacques Rousseau were well known major political thinkers. Plato gives the concept of ideal state where the state is like a human including three elements-philosophers, soldiers and workers .The philosopherRead MoreThe Political Of Political Science Essay2347 Words   |  10 PagesIntroduction: According to Aristotleâ€Å"Man is by nature a political animal and he only by nature and by mere accident is without state is either above humanity or below it† Political science is ultimately related with the word politics which is derived from the Greek word â€Å"Polis†.The origin of political thought in the west and therefore goes back to the Greece.Political science is the study of the state and the government.And political philosophy is considersd to be a sub discipline of political scienceRead MorePolitical Philosophy and Plato Essay9254 Words   |  38 PagesSocrates 469 BC–399 BC, was a classical Greek Athenian philosopher. 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The Different Types of Marriages Presented in Pride and...

Discuss the different types of marriages presented in Pride and Prejudice and what this tells you about the different attitudes to marriage in the early nineteenth century. Austen opens this book with a cynical commentary on the Eighteenth Century conception of the value of love - It is a truth universally acknowledged that a gentleman in possession of a good fortune must be in want of a wife! Throughout the book, there are many insights into different beliefs on why to marry. Marrying for money was very popular, followed by lust, calculated marriages and arranged marriages. Something not as often thought about were love marriages. â€Å"Happiness in marriage is entirely a matter of chance†. This was mainly because parents†¦show more content†¦with friends or at school. It was deemed very serious to do this and a sign of a drastic change such as entering an illicit relationship or marrying a man who didn’t meet with the approval of the family. All of this made some women want to marry as soon as possible to get financial security and social status, or to get out of an unhappy family situation. Family might also add to the pressure to get married, not wanting their daughter to be an â€Å"old maid†. Being in this situation herself Austen portrays the hard life women had through the women in the story. Darcy and Lizzie’s relationship is the strongest, one based on opposites, where he is rich but she is poor, he is reserved with his feelings where as she is open to tell them, he is intense and serious, and Lizzie has a â€Å"lively, playful disposition†. But within this there is an understanding of themselves and each other. Her feelings for Mr Darcy are more based on physical attraction along with a mutual chemistry. This shows an alternative view to Lizzie’s sister Lydia and her good friend Charlotte Lucas, which is rather superficial. At first Lizzie does not want to fall at his feet just because he is rich. Early on Darcy knows he is attracted to Lizzie but this goes against everything he wants to feel. He does not want to like her because he feels she is beneath him, because her family has no money and â€Å"low connections†. This becameShow MoreRelated Explore Jane Austen’s attitude to marriage in Pride and Prejudice1671 Words   |  7 Pagesattitude to marriage in Pride and Prejudice Looking at the social, historical and cultural context In the 19th century when Austen wrote ‘Pride and Prejudice’, the way in which marriage was viewed was very different. It would have been expected of a young woman to find a ‘suitable’ partner for marriage before they were thirty, as after this they could be seen as an embarrassment to their family. By suitable, it does not mean in the way in which marriage is viewed today. 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As Jane Austen st ates when describing Mrs. Bennet, â€Å"The business of her Vanek 7 life was to get her daughtersRead MoreSimilarities Between Love And Marriage And Pride And Prejudice1248 Words   |  5 PagesThe context of a novel or film can greatly affect the values of society through the key concepts of love and marriage, and feminine appearance of a woman. We can clearly observe the comparisons of Jane Austen’s 1813 novel Pride and Prejudice to Sharon Maguire’s 1997 film Bridget Jone’s Diary. The novel Pride and Prejudice was composed in the Regency period where marriage was vitally important for a woman as it meant a financially comfortable and stable future, and it was not based upon true loveRead More Feminism in Pride and Prejudice by Jane Austen Essay1713 Words   |  7 PagesFeminism in Pride and Prejudice by Jane Austen Jane Austen, the author of Pride and Prejudice, holds feminist views and uses the novel to show her opinions about womens issues. Pride and Prejudice is a personal essay, a statement of Jane Austens feelings about the perfect lady, marriage, and the relationship between the sexes. Jane Austens characters, plot, and dialogue are biased to reflect her beliefs. The biased process and importance of marriage are introduced with the first lineRead MoreThe Attitudes Toward Marriage in Jane Austens Pride and Prejudice844 Words   |  4 PagesThe Attitudes Toward Marriage in Jane Austens Pride and Prejudice Jane Austin wrote the novel Pride and Prejudice in 1813. The novel provides a great deal of information and gives us a detailed insight to the different attitudes towards marriages at the time. Pride and Prejudice is focused and written about the lifestyles among gentry. The gentry was the middle to upper class citizensRead MoreMarriage in Jane Austen ´s Pride and Prejudice1399 Words   |  6 PagesJane Austen is only one example of this type of author who exemplifies a style of repetition by using repetitious themes. 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These themes deal with the subjects of; marriage, good breeding and appearances, socialRead MoreCompare the Presentation of Love in Shakespeare to Pride and Prejudice1074 Words   |  5 Pages‘Romeo and Juliet’ and ‘Pride and Prejudice’ are the two of English literature’s most celebrated and loved stories.   In both cases, the theme of the story is love between a young man and women and the lovers are the main characters about which the rest of the cast or characters in the story revolve.   Although both are romances, in the literal sense of the word, there are numerous differences between them; this essay intends to examine the similarities and differences between the two works, specificallyRead MorePride And Prejudice By Elizabeth Bennet2024 Words   |  9 Pagesindustry portrays marriage as picture perfect, in which every girl has their dream wedding and true love always finds its way. Contrary to the media’s view, marriage was not always a fairy-tale because women had the responsibility to help provide for their family. During the English Regency period, young girls married for financial security and social benefits to improve their family’s status. In Pride and Prejudice, Elizabeth Bennet rebelled against this mainstream idea of marriage set by society

Basel Norms in India free essay sample

Technical Paper – Course on General Management and Communication Skills, Institute of Chartered Accountants of India Batch 129 Basel II Implications on Indian Banks Group Members Rahul Sharma (ERO0097549) Abhishek Tulsyan (CRO0137558) Sikha Kedia (ERO0105399) Gourav Modi (ERO0016925) Praveen Didwania (ERO0110131) Index of Contents Topics Page No. I. Introduction A. B. C. D. E. F. G. Background Functions of Basel Committee The Evolution to Basel II – First Basel Accord Capital Requirements and Capital Calculation under Basel I Criticisms of Basel I New Approach to Risk Based Capital Structure of Basel II First Pillar : Minimum Capital Requirement Types of Risks under Pillar I The Second Pillar : Supervisory Review Process The Third Pillar : Market Discipline 3 3 3 3 3 4 4 II. The Three Pillar Approach A. B. C. D. 5 5 6 6 7 7 7 III. Capital Arbitrage and Core Effect of Basel II A. Capital Arbitrage B. Bank Loan Rating under Basel II Capital Adequacy Framework C. Effect of Basel II on Bank Loan Rating IV. Basel II in India A. Implementation C. Impact on Indian Banks D. Impact on Various Elements of Investment Portfolio of Banks E. Impact on Bad Debts and NPA’s of Indian Banks D. Government Policy on Foreign Investment E. Threat of Foreign Takeover 8 8 9 10 10 10 V. Conclusion A. SWOT Analysis of Basel II in Indian Banking Context B. Challenges going ahead under Basel II 11 11 13 13 VI. VII. References The Technical Paper Presentation Team 2 I. Introduction: A. Background Basel II is a new capital adequacy framework applicable to Scheduled Commercial Banks in India as mandated by the Reserve Bank of India (RBI). The Basel II guidelines were issued by the Basel Committee on Banking Supervision that was initially published in June 2004. The Accord has been accepted by over 100 countries including India. In April 2007, RBI published the final guidelines for Banks operating in India. Basel II aims to create international standards that deals with Capital Measurement and Capital Standards for Banks which banking regulators can use when creating regulations about how much banks need to put aside to guard against the types of financial and operational risks banks face. The Basel Committee on Banking Supervision was constituted by the Central Bank Governors of the G-10 countries in 1974 consisting of members from Australia, Brazil, Canada, United States, United Kingdom, Spain, India, Japan, etc to name a few. The ommittee regularly meets four times a year at the Bank for International Settlements (BIS) in Basel, Switzerland where its 10 member Secretariat is located. B. Functions of the Basel Committee The purpose of the committee is to encourage the convergence toward common approaches and standards. However, the Basel Committee is not a classical multilateral organisation like World Trade Organisation. It has no founding treaty and it does not issue binding regulat ions. It is rather an informal forum to find policy solutions and promulgate standards. C. The Evolution to Basel II – First Basel Accord The First Basel Accord (Basel I) was completed in 1988. The main features of Basel I were: †¢ †¢ †¢ Set minimum capital standards for banks Standards focused on credit risk, the main risk incurred by banks Became effective end-year 1992 The First Basel Accord aimed at creating a level playing field for internationally active banks. Hence, banks from different countries competing for the same loans would have to set aside roughly the same amount of capital on the loans. D. Capital Requirements and Capital Calculation under Basel – I Minimum Capital Adequacy ratio was set at 8% and was adjusted by a loan’s credit risk weight. Credit risk was divided into 5 categories viz. 0%, 10%, 20%, 50% and 100%. Commercial loans, for example, were assigned to the 100% risk weight category. To calculate required capital, a bank would multiply the assets in each risk category by the category’s risk weight and then multiply the result by 8%. Thus, a Rs 100 commercial loan would be multiplied by 100% and then by 8%, resulting in a capital requirement of Rs8. E. Criticisms of Basel – I Following are the criticisms of the First Basel Accord (Basel I):†¢ †¢ It took too simplistic an approach to setting credit risk weights and for ignoring other types of risk. Risks weights were based on what the parties to the Accord negotiated rather than on the actual risk of each asset. Risk weights did not flow from any particular insolvency probability standard, and were for the most part, arbitrary. 3 †¢ †¢ †¢ The requirements did not account for the operational and other forms of risk that may also be important. Except for trading account activities, the capital standards did not account for hedging, diversification, and differences in risk management techniques. Advances in technology and finance allowed banks to develop their own capital allocation models in the 1990’s. This resulted in more accurate calculation of bank capital than possible under Basel I. These models allowed banks to align the amount of risk they undertook on a loan with the overall goals of the bank. Internal models allow banks to more finely differentiate risks of individual loans than is possible under Basel – I. It facilitates risks to be differentiated within loan categories and between loan categories and also allows the application of a capital charge to each loan, rather than each category of loan. F. New Approach to Risk-Based Capital †¢ †¢ †¢ By the late 1990’s, growth in the use of regulatory capital arbitrage led the Basel Committee to begin work on a new capital regime (Basel II) Effort focused on using banks’ internal rating models and internal risk models June 1999: The Basel Committee issued a proposal for a new capital adequacy framework to replace Basel I. In order to overcome the criticisms of Basel – I and for adoption of the new approach to riskbased capital, Basel II guidelines were introduced. G. Structure of Basel – II Basel – II adopts a three pillar approach: †¢ †¢ †¢ Pillar I Minimum Capital Requirement (Addressing Credit Risk, Operational Risk Market Risk) Pillar II Supervisory Review (Provides Framework for Systematic Risk, Liquidity Risk Legal Risk) Pillar III Market Discipline Disclosure (To promote greater stability in the financial system) II. The Three Pillar Approach The first pillar establishes a way to quantify the minimum capital requirements. The main objective of Pillar I is to align capital the adequacy ratios to the risk sensitivity of the assets affording a greater flexibility in the computation of banks individual risk. Capital Adequacy Ratio is defined as the amount of regulatory capital to be maintained by a bank to account for various risks inbuilt in the banking sy stem. The focus of Capital Adequacy Ratio under Basel I norms was on credit risk and was calculated as follows: Capital Adequacy Ratio = Tier I Capital+Tier II Capital Risk Weighted Assets Basel Committee has revised the guidelines in the year June 2001 known as Basel II Norms. Capital Adequacy Ratio in New Accord of Basel II: Capital Adequacy Ratio = Total Capital (Tier I Capital+Tier II Capital) Market Risk(RWA) + Credit Risk(RWA) + Operation Risk(RWA) *RWA = Risk Weighted Assets Calculation of Capital Adequacy Ratio: Total Capital: Total Capital constitutes of Tier I Capital and Tier II Capital less shareholding in other banks. Tier I Capital = Ordinary Capital + Retained Earnings Share Premium Intangible assets. Tier II Capital = Undisclosed Reserves + General Bad Debt Provision+ Revaluation Reserve+ Subordinate debt+ Redeemable Preference shares Tier III Capital: Tier III Capital includes subordinate debt with a maturity of at least 2 years. This is addition or substitution to the Tier II Capital to cover market risk alone. Tier III Capital should not cover more than 250% of Tier I capital allocated to market risk. A. First Pillar : Minimum Capital Requirement B. Types of Risks under Pillar I . Credit Risk Credit risk is the risk of loss due to a debtors non-payment of a loan or other line of credit (either the principal or interest (coupon) or both). Basel II envisages two different ways of measuring credit risk which are standarised approach, Internal Rating-Based Approach. The Standardised Approach The standardized approach is conceptually the same as the present Accord, but is more risk sensitive. Un der this approach the banks are required to use ratings from External Credit Rating Agencies to quantify required capital for credit risk. The Internal Ratings Based Approach (IRB) Under the IRB approach, different methods will be provided for different types of loan exposures. Basically there are two methods for risk measurement which are Foundation IRB and Advanced IRB. The framework allows for both a foundation method in which a bank estimate the probability of default associated with each borrower, and the supervisors will 5 supply the other inputs and an advanced IRB approach, in which a bank will be permitted to supply other necessary inputs as well. Under both the foundation and advanced IRB approaches, the range of risk weights will be far more diverse than those in the standardized approach, resulting in greater risk sensitivity. 2. Operational Risk An operational risk is a risk arising from execution of a companys business functions. As such, it is a very broad concept including e. g. fraud risk, legal risk, physical or environmental risks, etc. Basel II defines operational risk as the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Although the risks apply to any organization in business, this particular risk is of particular relevance to the banking regime where regulators are responsible for establishing safeguards to protect against systematic failure of the banking system and the economy. Banks will be able to choose between three ways of calculating the capital charge for operational risk – the Basic Indicator Approach, the Standardized Approach and the advanced measurement Approaches. 3. Market Risk Market risk is the risk that the value of a portfolio, either an nvestment portfolio or a trading portfolio, will decrease due to the change in value of the market risk factors. The four standard market risk factors are stock prices, interest rates, foreign exchange rates, and commodity prices. The preferred approach is VAR(value at risk). C. The Second Pillar : Supervisory Review Process Supervisory review process has been introduced to ensure not only that banks have adequate capital to support all th e risks, but also to encourage them to develop and use better risk management techniques in monitoring and managing their risks. The process has four key principles – a) Banks should have a process for assessing their overall capital adequacy in relation to their risk profile and a strategy for monitoring their capital levels. b) Supervisors should review and evaluate bank’s internal capital adequacy assessment and strategies, as well as their ability to monitor and ensure their compliance with regulatory capital ratios. c) Supervisors should expect banks to operate above the minimum regulatory capital ratios and should have the ability to require banks to hold capital in excess of the minimum. ) Supervisors should seek to intervene at an early stage to prevent capital from falling below minimum level and should require rapid remedial action if capital is not mentioned or restored. D. The Third Pillar : Market Discipline Market discipline imposes strong incentives to banks to conduct their business in a safe, sound and effective manner. It is proposed to be effected through a series of disclosure requirements on capital, risk exposure etc. so that market participants can assess a bank’s capital adequacy. These disclosures should be made at least semiannually and more frequently if appropriate. Qualitative disclosures such as risk management objectives and policies, definitions etc. may be published annually. 6 III. Capital Arbitrage and Core Effect of Basel II Regulatory arbitrage is where a regulated institution takes advantage of the difference between its real (or economic) risk and the regulatory position. Securitization is the main means used by Banks to engage in Regulatory Capital Arbitrage. Example of Capital Arbitrage is given below: A. Capital Arbitrage †¢ Assume a bank has a portfolio of commercial loans with the following ratings and internally generated capital requirements – AA-A: 3%-4% capital needed – B+-B: 8% capital needed – B- and below: 12%-16% capital needed Under Basel I, the bank has to hold 8% risk-based capital against all of these loans To ensure the profitability of the better quality loans, the bank engages in capital arbitrage, it securitizes the loans so that they are reclassified into a lower regulatory risk category with a lower capital charge Lower quality loans with higher internal capital charges are kept on the bank’s books because they require less risk-based capital than the bank’s internal model indicates. †¢ †¢ †¢ B. Bank Loan Rating under Basel – II Capital Adequacy Framework †¢ On April 27, 2007, the Reserve Bank of India released the final guidelines for implementation of the New Capital Adequacy Framework (Basel II) applicable to the Banking system of the country The new framework mandates that the amount of capital provided by a bank against any loan and facility will be based on the credit rating assigned to the loan issue by an external rating agency. This means that a loan and a facility with a higher credit rating will attract a lower risk weight than one with a lower credit rating. †¢ †¢ Illustration of capital-saving potential by banks on a loan of Rs 1000 million Rating Basel I Basel II Capital Saved (Rs Long Short Risk Capital Risk Capital Million) Term Term Weight Required* Weight Required Rating Rating (Rs Million) (Rs Million) AAA P1+ 100% 90 20% 18 72 AA P1 100% 90 30% 27 63 A P2 100% 90 50% 45 45 BBB P3 100% 90 100% 90 0 BB P4 P5 100% 90 150% 135 (45) below Unrated Unrated 100% 90 100% 90 0 *Capital required is computed as Loan Amount ? Risk Weight ? 9% C. Effect of Basel – II on Bank Loan Rating †¢ †¢ Banks would either prefer that the Borrower should get itself rated, or, It would prefer that the borrowing institution should pay a higher rate of interest to compensate for the loss. 7 To substantiate the above fact, following example is taken in respect of a strong company: Loan of Rating AAA is taken of Rs 100 Crores @ 12% interest rate Capital Adequacy Rating Risk % Capital Required Opportunity Ratio (Rs Crores) Interest lost by the Bank (Rs Crores) C. A. R. Unrated 100% 9. 00 1. 08 C. A. R. New 20% 1. 80 0. 22 Total Opportunity Interest lost by the Bank (Rs Crores) 0. 86 Hence, Banks would resort to the above-mentioned measures in order to reduce or curb this loss on opportunity interest. Worse affected by this action taken by Banks would be the weaker companies. They would either be charged a higher rate of interest on loans to compensate for the loss or would alternatively have to approach another bank charging a lower rate of interest. The ideal solution to this problem would be that a weaker company should get itself rated and also take steps in order to have a better credit rating. Credit Rating is an evaluation of credit worthiness of a person, company or instrument. Thus, it indicates their willingness to pay for the obligation and the net worth. IV. Basel II in India A. Implementation The deadline for implementing the base approach of Basel II norms in India, was originally set for March 31, 2007. Later the RBI extended the deadline for Foreign banks in India and Indian banks operating abroad to meet those norms by March 31, 2008, while all other scheduled commercial banks were to adhere to the guidelines by March 31, 2009. Later the RBI confirmed that all commercial banks were Basel II compliant by March 31, 2009. Keeping in view the likely lead time that may be needed by the banks for creating the requisite technological and the risk management infrastructure, including the required databases, the MIS and the skill up-gradation, etc. , RBI has proposed the implementation of the advanced approaches under Basel II in a phased manner starting from April 1, 2010 B. Impact on Indian Banks Basel II allows national regulators to specify risk weights different from the internationally recommended ones for retail exposures. The RBI had, therefore, announced an indicative set of weights for domestic corporate long-term loans and 8 bonds subject to different ratings by international rating agencies such as Moodys Investor Services which are slightly different from that specified by the Basel Committee (Table 1). C. Impact on various elements of the investment portfolio of banks The bonds and debentures portfolio of the banks consist of investments into higher rated companies, hence the corporate assets measured using the standardised approach may be exposed to slightly lower risk weights in comparison with the 100 per cent risk weights assigned under Basel I. The Indian banks have a large short-term portfolio in the form of cash credit, overdraft and working capital demand loans, which were un-rated, and carried a risk weight of 100 per cent under the Basel I regime. They also have short-term investments in commercial papers in their investment portfolio, which also carried a 100 per cent risk weight. The RBIs capital adequacy guidelines has prescribed lower risk weights for short-tem exposures, if these are rated (Table 2). This provides the banks with an opportunity to benefit from their investments in commercial paper (which are typically rated in A1+/A1 category) and give them the potential to exploit the proposed short-term credit risk weights by obtaining short-term ratings for exposures in the form of cash credit, overdraft and working capital loans. The net result is that the implementation of Basel II provided Indian banks with the opportunity to significantly reduce their credit risk weights and reduce their required regulatory capital, if they suitably adjust their portfolio by lending to rated but strong corporate and increase their retail lending. According to some reports, most of the Indian banks who have migrated to Basel II have reported a reduction in their total Capital Adequacy Ratios (CARs). However, a few banks, those with high exposures to higher rated corporate or to the regulatory retail portfolio, have reported increased CARs. However, a recent study by New Delhi-based industry lobby group Assocham has concluded that Capital Adequacy Ratio (CAR) of a group of commercial banks, which were part of the study improved to 13. 48% in 2008-09 from 12. 35% in 2007-08, due to lower risk weights, implementation of Basel II norms and slower credit growth. 9 D. Bad debts and requirement of additional capital In this context, the situation regarding bad debts and NPA’s is very pertinent. The proportion of total NPAs to total advances declined from 23. 2 per cent in March 1993 to 7. per cent in March, 2004. The improvement in terms of NPAs has been largely the result of provisioning or infusion of capital. This meant that if the banks required more capital, as they would to implement Basel II norms, they would have to find capital outside of their own or the governments re sources. ICRA has estimated that, Indian banks would need additional capital of up to Rs. 12,000 crore to meet the capital charge requirement for operational risk under Basel II. Most of this capital would be required by PSBs Rs. 9,000 crore, followed by the new generation private sector banks Rs. 1,100 crore, and the old generation private sector bank Rs. 750 crore. In practice, to deal with this, a large number of banks have been forced to turn to the capital market to meet their additional regulatory capital requirements. ICICI Bank, for example, has raised around Rs. 3,500 crore, thus improving its Tier I capital significantly. Many of the PSBs, namely, Punjab National Bank, Bank of India, Bank of Baroda and Dena Bank, besides private sector banks such as UTI Bank have either already tapped the market or have announced plans to raise equity capital in order to boost their Tier I capital. E. Government Policy on foreign investment The need to go public and raise capital challenged the government policy aimed at restricting concentration of share ownership, maintaining public dominance and limiting foreign influence in the banking sector. One immediate fallout was that PSBs being permitted to dilute the governments stake to 51 per cent, and the pressure to reduce this to 33 per cent increased. Secondly, the government allowed private banks to expand equity by accessing capital from foreign investors. This put pressure on the RBI to rethink its policy on the ownership structure of domestic banks. In the past the RBI has emphasised the risks of concentrated foreign ownership of banking assets in India. Subsequent to a notification issued by the Government, which had raised the FDI limit in private sector banks to 74 per cent under the automatic route, a comprehensive set of policy guidelines on ownership of private banks was issued by the RBI. These guidelines stated, among other things, that no single entity or group of related entities would be allowed to hold shares or exercise control, directly or indirectly, in any private sector bank in excess of 10 per cent of its paid-up capital. F. Threat of foreign takeover There has been growing pressure to consolidate domestic banks to make them capable of facing international competition. Indian banks are pigmies compared with the global majors. Indias biggest bank, the State Bank of India, which accounts for onefifth of the total banking assets in the country, is roughly one-fifth as large as the worlds biggest bank Citigroup. Given this difference, even after consolidation of 10 omestic banks, the threat of foreign takeover remains if FDI policy with respect to the banking sector is relaxed. Not surprisingly, a number of foreign banks have already evinced an interest in acquiring a stake in Indian banks. Thus, it appears that foreign bank presence and consolidation of bankin g are inevitable post Basel II. V. Conclusion A. SWOT Analysis of Basel II in Indian Banking Context Strenghts †¢ †¢ Aggression towards development of the existing standards by banks. Strong regulatory impact by central bank to all the banks for implementation. Presence of intellectual capital to face the change in implementation with good quality. †¢ †¢ †¢ Weaknesses Poor Technology Infrastructure Ineffective Risk Measures Presence of more number of Smaller banks that would likely to be impacted adversely. †¢ Opportunities †¢ †¢ Increasing Risk Management Expertise. Need significant connection among business,credit and risk management and Information Technology. Advancement of Technologies. Strong Asset Base would help in bigger growth. †¢ †¢ Threats Inability to meet the additional Capital Requirements Loss of Capital to the entire banking system, due to Mergers and acquisitions. Huge Investments in technologies †¢ †¢ †¢ B. Challenges going ahead under Basel II †¢ The new norms will almost invariably increase capital requirement in all banks across the board. Although capital requirement for credit risk may go down due to adoption of more risk sensitive models such advantage will be more than offset by additional capital charge for operational risk and increased capital requirement for market risk. This partly explains the current trend of consolidation in the banking industry. Competition among banks for highly rated corporates needing lower amount of capital may exert pressure on already thinning interest spread. Further, huge implementation cost may also impact profitability for smaller banks. The biggest challenge is the re-structuring of the assets of some of the banks as it would be a tedious process, since most of the banks have poor asset quality leading to significant proportion of NPA. This also may lead to Mergers Acquisitions, which itself would be loss of capital to entire system. The new norms seem to favor the large banks that have better risk management and measurement expertise, who also have better capital adequacy ratios and geographically diversified portfolios. The smaller banks are also likely to be hurt by the rise in weightage †¢ †¢ †¢ 11 of inter-bank loans that will effectively price them out of the market. Thus, banks will have to re-structure and adopt if they are to survive in the new environment. †¢ Since improved risk management and measurement is needed, it aims to give impetus to the use of internal rating system by the international banks. More and more banks may have to use internal model developed in house and their impact is uncertain. Most of these models require minimum historical bank data that is a tedious and high cost process, as most Indian banks do not have such a database. The technology infrastructure in terms of computerization is still in a nascent stage in most Indian banks. Computerization of branches, especially for those banks, which have their network spread out in remote areas, will be a daunting task. Penetration of information technology in banking has been successful in the urban areas, unlike in the rural areas where it is insignificant. An integrated risk management concept, which is the need of the hour to align market, credit and operational risk, will be difficult due to significant disconnect between business, risk managers and IT across the organizations in their existing set-up. Implementation of the Basel II will require huge investments in technology. According to estimates, Indian banks, especially those with a sizeable branch network, will need to spend well over $ 50-70 Million on this. Computation of probability of default, loss given default, migration mapping and supervisory validation require creation of historical database, which is a time consuming process and may require initial support from the supervisor. With the implementation of the new framework, internal auditors may become increasingly involved in various processes, including validation and of the accuracy of the data inputs, review of activities performed by credit functions and assessment of a banks capital assessment process. Pillar 3 purports to enforce market discipline through stricter disclosure requirement. While admitting that such disclosure may be useful for supervisory authorities and rating agencies, the expertise and ability of the general public to comprehend and interpret disclosed information is open to question. Moreover, too much disclosure may cause information overload and may even damage financial position of bank. Basel II proposals underscore the interaction between sound risk management practices and corporate good governance. The banks board of directors has the responsibility for setting the basic tolerance levels for various types of risk. It should also ensure that management establishes a framework for assessing the risks, develop a system to relate risk to the banks capital levels and establish a method for monitoring compliance with internal policies. The risk weighting scheme under Standardised Approach also creates some incentive for some of the bank clients to remain unrated since such entities receive a lower risk weight of 100 per cent vis-a-vis 150 per cent risk weight for a lowest rated client. This might specially be the case if the unrated client expects a poor rating. The banks will need to be watchful in this regard. †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ We can conclude by saying that the Basel II framework provides significant incentives to banks to sharpen their risk management expertise to enable more efficient risk-return tradeoffs, it also presents a valuable opportunity to gear up their internal processes to the 12 international best standards. This would require substantial capacity building and commitment of resources through close involvement of the banks’ Top Management in guiding this arduous undertaking. Notwithstanding intense competition, the expansionary phase of the economy is expected to provide ample opportunities for the growth of the banking industry. The growth trajectory, adherence to global best practices and risk management norms are likely to catapult the Indian Banks onto the global map, making them a force to reckon with. VI. References 1. The Evolution to Basel II by Donald Inscoe, Deputy Director, Division of Insurance and Research, US Federal Deposit Insurance Corporation. 2. Basel II – Challenges Ahead of the Indian Banking Industry by Jagannath Mishra and Pankaj Kumar Kalawatia. 3. Basel II Norms and Credit Ratings by CA Sangeet Kumar Gupta. 4. The Business Line Magazine. 5. The Chartered Accountant – Journal of the Institute of Chartered Accountants of India. 6. www. bis. org 7. www. rbi. org. in 8. www. wikipedia. org 9. www. google. com VII. The Technical Paper Presentation Team Name of Member Email ID’s [emailprotected] org tulsyan. [emailprotected] co. in sikha. [emailprotected] com ca. [emailprotected] com [emailprotected] com 1. Rahul Sharma 2. Abhishek Tulsyan 3. Sikha Kedia 4. Gourav Modi 5. Praveen Didwania 13

Proposition 19 free essay sample

The legality of marijuana has been the subject for debate and controversy for decades. With the new generation, the number of supporters of marijuana legalization has increased dramatically. In the United States, legalizing marijuana is a major concern because it is the most frequently used illegal drug. Nearly 98 million Americans over the age of 12 have tried marijuana at least once. Politicians have thought of legalizing marijuana to increase revenue by imposing taxes. At the forefront of this idea is California, which is currently the most populous state in the United States yet has the highest budget deficit of all states. Also, California has the 5th highest unemployment rates exceeding 12 percent. In 2009, the California economic crisis became severe as the state faced bankruptcy. This budget shortfall has caused the state to look for ways out. Californias way out of a huge budget deficit begins with Proposition [5] Proposition 19 also known as the Regulate, Control and Tax Cannabis Act of 2010 would legalize various marijuana activities, allow local government to regulate these activities, allow for marijuana related government axes, and authorizes various criminal and civil penalties by local government. The California ballot for Proposition 19 opened on November 2, 2010 in California, hoping to change the fate of marijuana legalization in America forever. The bill failed, but only trailed the outcome by nearly 500 votes. 4] Among the arguments for the passing of Proposition 19 was that legalizing marijuana in California could reduce drug-related violence, based on a study conducted by the International Centre for Science in Drug Policy. In addition some believe that it would help alleviate the drug war in Mexico. Based on the theory adopted by the White House Office of National Drug Control Policy that up to 60% of Mexican drug cartels profits come from sales of marijuana, legalizing the drug in nearby California would drastically cut their funding. As a result, supporters of this argument believed that legalization would lead to a decrease in drug-related violent crime in Mexico. [3] Also cited were a savings of $960 million per year in law enforcement costs, and a generation of $350 million a year in state and local tax revenues. Supporters also argued that passing the measure would result in additional benefits including tourism and spinoff ndustries such as cafes and paraphernalia. Based on Californias wine industry, proponents of this theory anticipated that legalizing marijuana in the state could generate up to $18 billion, including the creation of 60,000-110,000 Jobs. [4] Perhaps one of the most well-known arguments for the legalization of Marijuana is to treat conditions including pain and nausea caused by HIV/AIDS, cancer and other conditions. When presented with all the information above its easy to see why so many people can rationalize their decision to support Proposition 19. Increasing revenue and employment rates while decreasing law enforcement costs and crime, ll by providing the public with a safe wonder drug to aid in a variety of ailments. What could e better? Untortunately though all these claims seem viable none ot them can escape scrutiny. To address Marijuana as a potential drug, scientific evidence needs to be provided to substantiate the claims. To date the evidence is not sufficient for the marijuana plant to gain FDA approval, for two main reasons. First, there have not been enough clinical trials showing that marijuanas benefits outweigh its health risks in patients with the symptoms it is meant to treat. The FDA equires carefully conducted studies in large numbers of patients (hundreds to thousands) to accurately assess the benefits and risks of a potential medication. [5] Also, to be considered a legitimate medicine, a substance must have well-defined and measureable ingredients that are consistent from one unit (such as a pill or injection) to the next. This consistency allows doctors to determine the dose and frequency. As the marijuana plant contains hundreds of chemical compounds that may have different effects and that vary from plant to plant, its use as a medicine is difficult to evaluate. However, THC-based drugs to treat pain and nausea are already FDA approved and prescribed, and scientists continue to investigate the medicinal properties of cannabinoids. Regarding the supposed economic benefits of taxing marijuana, some comparison with two drugs that are already regulated and taxed, alcohol and tobacco is worth considering. People dont typically grow their own tobacco or distill their own spirits, so consumers accept high taxes on them as retail products. Marijuana, though, is easy and cheap to cultivate, indoors or out, and Proposition 19 would allow individuals to grow as much as 25 square feet of arijuana for personal consumption. Why would people volunteer to pay high taxes on marijuana if it were legalized? The answer is that many would not, and the underground market, adapting to undercut any new taxes, would barely diminish at all. This bill also implied that marijuana would be regulated and controlled by the initiative. In fact, the law provides for no regulation or control, but leaves it up to local governments to initiate such controls and or regulations. In addition, there are no provisions to tax marijuana cultivation or use in the initiative. Instead, such taxation, f it ever happens will be left to local governments. In fact, a provision of the initiative specifically prevents the state of California from taxing marijuana sales any more than the usual sales tax in contrast to cigarettes and liquor. 1] Since the enforcement of locally enacted taxation will be next to impossible, there will never be any significant revenue produced through this initiative. Another major conflict is that this bill would create a state law that conflicts with federal drug laws. On the surface, this does not seem to be a big deal, since President Obama has stated that e wont enforce the federal law in California. However, the re is another issue that could cause the loss of billions of dollars to the state. Public contracts and grants require grantees to effectively enforce the drug-free workplace requirements (which includes marijuana use) outlined by the federal governments Federal Workplace Act of 1988. Not only may schools lose their federal grants, but medical research institutions, could lose millions of dollars annually The current healthcare and criminal Justice costs associated with alcohol and tobacco far surpass the tax revenue hey generate, and very little of the taxes collected on these substances is contributed to offsetting their substantial social and health costs. For every dollar society collects in taxes on alcohol, for example, we end up spending eight more in social cos ts That is hardly a recipe tor fiscal health A recent Rand Corp. report, Altered State, found that it is difficult to predict estimated revenue from marijuana taxes, and that legalization would increase consumption but could also lead to widespread tax evasion and a race to the bottom in terms of local tax rates. Perhaps the biggest concern is safety on the roads. In 2010 a comment was made by a formal General Sergeant that driving under the influence of Marijuana is much like being under the influence of Alcohol. In response an experiment was conducted by two local Los Angeles Journalists who decided to take a car and drive stoned. With the help from the California Highway Patrol the highway was closed to the public and several obstacles were arranged simulating how a driver might need to operate in heavy traffic. The experiment, said one of the Journalists was to see how impaired I was after smoking pot California has more drivers than any other state, 22 million of hem. So the big concern was if legalizing marijuana would make the roads less safe. The proponents of Proposition 19 insist it wont. The common conception among supporters is that the impairment is rather slight like taking an antihistamine. The journalists certainly found that driving and drugs dont mix. One of them nearly veered off the highway through a test course. l wasnt 0k, so that was kind of shocking to me said one of the drivers. But safety seems to be a big reason support for proposition 19 dropped. 1 percent opposed and 39 percent supported in a poll conducted before the bill was denied in 2010. 5] To give credibility to the tests conducted by the Journalists we can explore the affects Marijuana has on the brain. When marijuana is smoked, THC rapidly passes from the lungs into the bloodstream, which carries the chemical to the brain and other organs throughout the body. THC acts upon specific molecular targets on brain cells, called cannabinoid receptors. These receptors are o rdinarily activated by chemicals similar to THC called endocannabinoids, such as anandamide. These are naturally occurring in the body and are part of a neural communication network (the endocannabinoid system) that lays an important role in normal brain development and function The highest density of cannabinoid receptors is found in parts of the brain that influence pleasure, memory, thinking, concentration, sensory and time perception, and coordinated movement. Marijuana over activates the endocannabinoid system, causing the high and other effects that users experience. These include distorted perceptions, impaired coordination, difficulty with thinking and problem solving, and disrupted learning and memory. Because it seriously impairs Judgment and motor coordination, marijuana also contributes to accidents while driving. A recent analysis of data from several studies found that marijuana use more than doubles a drivers risk of being in an accident. Further, the combination of marijuana and alcohol is worse than either substance alone with respect to driving impairment. As a recreational drug, marijuana is not quite as benign as most of its proponents would claim. Heavvy marijuana use results in long-term effects on the brain, including lower responses in those areas which are affected by THC. Although users are able to compensate somewhat through the use of other brain areas, the long term effects of his damage, as users age, has not been determined. This damage may be responsible for impairments noted in short-term and long-term memory, along with a host of possible other psychiatric illnesses. Regular use of marijuana use by young people can nave especially negative long lasting impact on the structure and tunction of their brains. A recent study of marijuana users who began using in adolescence revealed a profound deficit in connections between brain areas responsible for learning and memory. And a large prospective study (following individuals across ime) showed that people who began smoking marijuana heavily in their teens lost as much as 8 points in IQ between age 13 and age 38; importantly, the lost cognitive abilities were not restored in those who quit smoking marijuana as adults. [4] A proportion of marijuana users become addicted and suffer from classic withdrawal symptoms upon abstinence. For a minority of users, marijuana is a gateway drug, and they proceed to use and abuse more powerful psychostimulants. Besides its effects upon the brain, Marijuana raises heart rate by 20-100 percent shortly after smoking; this effect can last up to 3 hours. In one study, it was estimated that marijuana users have a 4. 8-fold increase in the risk of heart attack in the first hour after smoking the drug. This may be due to increased heart rate as well as the effects of marijuana on heart rhythms, causing palpitations and arrhythmias. Marijuana use can lead to increased risks for respiratory cancers and may have some adverse cardiovascular and cerebrovascular effects in some users. Marijuana smoke has been placed on the California Proposition 65 list of carcinogenic materials, as required by California law for materials proven to cause cancer. 5] Marijuana use during pregnancy has been shown to result in lower child intelligence, while increasing the incidence of mental health problems. The idea that marijuana is a harmless recreational pastime has been disproved through continuing scientific research. Although this bill was denied the continued support for legalizing Marijuana is great, ensuring that this is a topic that will be an issue of debate for years to come. In my opinion we dont need all the problems that will result from the passage of Proposition 19 . This bill would established a legal right to use marijuana, potentially endangering the lives of thers through allowing intoxicated individuals to perform crucial driving Jobs. In addition, this bill could result in the loss of billions of dollars in federal grants and contracts to schools and hospitals, which would be unable to comply with federal drug-free workplace requirements. Contrary to the claims of proponents, Prop 19 would neither regulate, control, nor tax marijuana, but merely provides the legal right of local governments to create their own hodgepodge of local laws and ordinances, which would be virtually impossible to enforce. Although marijuana use does not egatively impact all users, it does have numerous adverse health effects on a significant percentage of individuals, which will result in increased medical and social costs to the people of California. This was a poorly written initiative that needs to make drastic revisions before it can be considered, in addition to the conduction of more scientific research needs to be done to determine future health risks for the users.

Mathematics Invented or Discovered Essay Example

Mathematics: Invented or Discovered Essay When Newton saw an apple drop from an apple tree he had an epiphany.That epiphany was the concept of gravity.Even though no one before Newton had ever thought of gravity, it had always existed and had always made apples drop from trees.Newton discovered and put a name to the concept of an object being pulled towards the earth; he did not invent gravity.Just as gravity wasnt invented, math wasnt invented.It was discovered. Math describes nature and the events in nature.Rabbits reproduce exponentially, energy is equal to mass multiplied by the speed of light squared, density equals mass divided by volume, etc.Math has been present long before man ever invented thefirst mathematical symbol.As long as there is nature and natural events, there is math. Man has always had a sense of math.This sense of math was his ability to distinguish quantities.For example, a Neanderthal knew that the more deer he killed, the better.He had a sense of math in that he had a sense of the amount (or quant ity) of those deer. That Neanderthal could not realize that killing thirty deer would provide him with more food than killing twenty deer (at least in terms of numerical value).What he would realize is that more deer provide him with more food.Although the Neanderthal did not have the knowledge of numbers, he still had a basic understanding of math when he established that more deer would be better than less deer. Math illustrates the relationship between matter in the universe.Before math was discovered, it existed as relationships in nature.Now that we analyze math and invent symbols and numbers to express it more efficiently, it is still the same math that the Neanderthal experienced, just in a different form.

Mileva Maric and Her Relationship to Albert Einstein and His Work

Mileva Maric and Her Relationship to Albert Einstein and His Work A 2004 PBS documentary (Einstein’s Wife: The Life of Mileva Maric Einstein) highlighted the role that Albert Einsteins first wife, Mileva Maric, may have played in the development of his theory of relativity, quantum physics, and Brownian motion. He doesnt even mention her in his own stories about his life, however. Was she really the brain behind the scenes, his silent collaborator? Mileva Maric and Albert Einstein’s Relationship and Marriage Mileva Maric, from a wealthy Serbian family,  began studies in science and math at a male prep school and got high grades. She then studied at the university in Zurich and then Zurich Polytechnic, where Albert was a young classmate four years younger than she was. She began failing in her studies after their love affair began and around the time she became pregnant with Albert’s child- a child born before their marriage and which Albert may never have visited.  (It is not known if she died in early childhood as she was ill with scarlet fever around the time Albert and Mileva finally married but may have been put up for adoption.) Albert and Mileva married and had two more children, both sons. Albert went to work at the Federal Office for Intellectual Property, then took a position at the University of Zurich in 1909, returning there in 1912 after a year at Prague. The marriage was full of tensions including, in 1912, an affair that Albert began with his cousin Elsa Loewenthal.  In 1913, Maric had the sons baptized as Christians. The couple separated in 1914, and Maric had custody of the boys. Albert divorced Mileva in 1919 at the end of World War I. By that time, he was living with Elsa and had completed his work on General Relativity. He agreed that any money won from a Nobel Prize would be given to Maric to support their sons.  He quickly married Elsa. Maric’s sister Zorka helped care for the children until she had a series of psychiatric breaks and Mileva’s father died.  When Albert won the Nobel Prize, he sent the prize money to Mileva as he had promised.   Her mother died after Albert fled from Europe and the Nazis; one of her sons and her two grandsons moved to America. The other son required psychiatric care- he was diagnosed with schizophrenia- and Mileva and Albert fought over funding his care.  When she died, Albert Einstein was not even mentioned in her obituary.  Maric is barely mentioned if at all in many books about Albert Einstein. The Arguments for This Collaboration Einstein’s letters show that he thought little of his wife’s hopes and dreams to be a scientist.Letters show that she served as an assistant to her husband in writing his papers.Letters also show that she served as a sounding board, that he talked over his ideas with her and she gave him feedback.In some letters Einstein talked of their collaborating, though in general terms: â€Å"we’ll diligently work on science together† for instance.A friend later reported that in 1905 Mileva had said that she and her husband had finished some important work together.Soviet scientist Abram F. Joffe who saw originals of three of Einstein’s key papers said they were signed Einstein Marity, with Marity being a version of the name Maric.Albert Einstein gave his Nobel Prize award money to Mileva Maric. The Arguments Against Being a sounding board and assistant do not equate to collaborating in the creation of Einstein’s revolutionary theories.There’s no hard evidence for any real contribution on the part of Mileva Maric to the content of Einstein’s theories.The statement to a friend in 1905 may be a later legend.The reference to â€Å"Einstein-Marity† likely reflects a Swiss custom of adding a wife’s name to the husband’s, according to some Einstein scholars, and the only reference that can be located to a reference to this dual name by Joffe is a clear reference to Albert Einstein alone.Mileva Maric never claimed publicly to be a collaborator on Albert Einstein’s work, and never asked for credit.Einstein’s giving his Nobel Prize money to his ex-wife was part of a divorce settlement, and was a way of supporting her and his two sons from their marriage. There’s no indication it was done to acknowledge any contribution she made to his scientif ic work. Conclusion The conclusion, despite the documentary’s original strong claims, seems to be that it’s unlikely that Mileva Maric contributed substantially to Albert Einstein’s work- that she was literally his â€Å"silent collaborator.†Ã‚   However, the contributions that she did make- as an unpaid assistant, helping him while pregnant and her own scientific career was falling apart, possibly with the stress of the difficult relationship and her out-of-wedlock pregnancy- demonstrate the difficulties which were peculiar to women of the time and which made their actual success in the sciences far more of a hurdle than what men with equivalent backgrounds and earlier education had to transcend.

Giovanni Baronzio Research Paper Example | Topics and Well Written Essays - 2500 words

Giovanni Baronzio - Research Paper Example In particular, these paintings form the first narrative cycle to have been used in teaching human beings about the life of Jesus Christ. The paintings were introduced into programs of church decorations. However, the paintings could not capture the miracles performed by Jesus Christ (Bailey 19). (Bailey 31) Artist: Giovanni Barozio Size: 500x382px Genre: Christian painting Material: panel Date of completion: 1352 The painting of Giovanni, especially the scenes from the life of Christ date back to the time of Constantine. Constantine had devoted more time in building quality buildings in the holy land to honor the life and events that surrounded the life of Jesus Christ. The scenes of Christ represented the nativity at Bethlehem. The mosaic represented the nativity and the adoration of Christianity. It is necessary to note that: â€Å"scenes from the life of Christ† were symbolic rather than being narrative in character (Bailey, P 7). Scenes from the life of Christ paintings ca pture Jesus’ life moments such as annunciation, Joseph’s dream, and the presentation in the temple, the adoration of the magi, the flight into Egypt, and the brutal killing of infants by King Herod. The images of the infancy of Christ illustrated both the canonical gospels and various apocryphal texts (Carvalho 57). In clearly capturing the life of Jesus Christ, Giovanni’s â€Å"scenes from the life of Christ† concentrated on the physicality of Jesus and spiritual elements. The crucification of Jesus Christ on the cross was well captured by Giovanni through paintings. Dark colors have been used to represent the gloomy mood that surrounded the Crucification of Jesus Christ. In addition, after the death of Christ, Darkness in the paintings shows the 6 hour total darkness that followed (Carvalho 57). Historical Context Scenes from the life of Christ show deep devotion into Christ as well as the development of humanism in early 1300s. The carving was made of ivory and was owned by rich members of the society. The paintings of Giovanni Baronzio represented spiritual devotion as well as being used as educational aids. The composition of the â€Å"scene from the life of Christ† painting is structured in various levels. There are panels in the painting that are further subdivided in three horizontal rows. Each row aims at showing and representing the life of Jesus Christ at each stage (Kanter 49). Christ’s early life is captured in the bottom row. The painting represents the annunciation of Jesus Christ. During this period, angel Gabriel appeared to Mary, informing her of Jesus Christ’s birth. Giovanni paintings show the period of Jesus’ birth. In particular, the Holy Spirit has been symbolized by the alighting dove. In showing where the Holy Spirit was meant to be, Giovanni painted the dove top be perching on Mary’s forehead. Mary’s purity was represented by Giovanni through the use of lilies (Kant er 50). The next painting represented nativity in the life of Jesus Christ. The painting has images of Mary looking lovingly at the face of the newly born baby Jesus Christ. In addition, the paintings included the images of donkeys and ox; these animals have been used to represent the humility represented by such animals in the society. The birth of Jesus Christ would be well captured by scenes of humility. Humility could only be captured through painting images of donkeys

Five Secrets of Charismatic Leader Assignment Example | Topics and Well Written Essays - 500 words - 2

Five Secrets of Charismatic Leader - Assignment Example It enables people to go beyond the confines of mediocrity and tread into the realm of existence. In the process, it induces people to define their desires and to pursue them with passion. Ultimately, leadership transforms potential into reality. Charisma has been identified as one of the characteristics of transformational leaders. Tasler indicated that â€Å"displaying charismatic leadership is one of the most effective ways to boost everything from motivation and creativity to productivity and plain old satisfaction† (Tasler, 2010, par. 2). In this regard, leaders who do not seem to possess the charismatic qualities have renewed hope to develop the rudiments for honing this potential. Through a research conducted by Francesca Gino from Harvard Business School and David Hofmann of the University of North Carolina, the secrets of unraveling the charismatic powers in leaders are revealed. As presented by Tasler, there are specifically five steps to assist leaders in developing a more charismatic personae, to wit: (1) through a definition of the main character; (2) identifying the ultimate goal or the happy ending; (3) pinpointing the weakness of the current situation; (4) identifying the alternative courses of action; and (5) encourage outpouring of emotions. Simply put, Tasler’s advice is focused on: â€Å"charisma can be conveyed simply by using emotional words. Incorporate such words as nervous, afraid, and frustrated to heat up your descriptions of the not-so-happy beginning, and then use words like excited, confident, proud, and peaceful to make the happy ending feel happier. The goal is to create a stark contrast between the unpleasant feeling of the place they are currently in and the wonderful place they can go to if they do what you ask† (Tasler, 2010, par. 12).

Responsible luxury business Research Paper Example | Topics and Well Written Essays - 2500 words

Responsible luxury business - Research Paper Example For holding their positions in the market the companies design their luxury businesses in sustainable way. This helps the firms to enhance the core values of their business. Sustainable business approaches of luxury businesses benefit the environment and their employees. As a result these companies are able to create strong position in market. This research paper deals with the luxury brand Gucci. Sustainability of this luxury business will be discussed in this paper. Various sustainable approaches of this company will be highlighted here. This research paper will focus on views of different authors regarding sustainability in luxury business. A business incorporates different standards for making its luxury business more sustainable. As per the authors, Crane and Matten, in the modern business environment sustainability has become an important factor for achieving growth and success. Sustainable business creates positive impact on employees, customers and society. With the help of sustainable approaches a company enhances its business activities. The authors state that in the changing business environment the luxury companies are focusing more on their responsibilities towards society, employees and environment. They are performing various activities which help them to portray their corporate social responsibilities. The products of the luxury brands are highly desired by people. These products are of high standards. For this reason the luxury companies maintain their standards by performing good social activities. Brand name or reputation of luxury business plays a vital role in selling their products. When this type of company performs various sustainable activities then its reputation gets enhanced and the po pularity of the brand increases. Therefore sustainable business processes of luxury business help the company to attract more customers (Crane and Matten, 2010). According to the authors, Moore and

Introduction To Electrochemical Sensors Xi Meng Engineering Essay

Introduction To Electrochemical Sensors Xi Meng Engineering Essay This paper is mainly focused on three parts: introduction to electrochemical sensors Simply describe the working principle, main components breathable film, electrode, electrolyte and filter ,influencing factors and selectivity 3)Introduce sensor types (potentiometric sensors, voltammetric sensors and amperometric sensors, review and discuss some examples (Solid-State Reference Electrodes, Ion selective, Carbon Based Materials, Novel Materials/ composites) on the research of electrochemical sensors classified by sensor type for future research. [Key Words] Electrochemical sensor, electrode, potentiometric, Ion selective It can be tracked back to the 1950s, when electrochemical sensor was first used to monitor oxygen. To the mid-1980s, small electrochemical sensor began to be devoted into detecting a variety of different toxic gases within PEL range, and showed great sensitivity and selectivity. Currently, various electrochemical sensors are widely used in many static and mobile applications in order to protect the personal safety. Working principle Electrochemical sensors work by reacting with the gas to be measured, and showing electrical signals reflecting the gas concentration. Typical electrochemical sensor is made up of the sensing electrode( or working electrode) and the counter electrode, separated by a thin electrolytic layer. Firstly, gas reacts with the sensor through tiny capillary-type openings, then reaches the hydrophobic barrier, and ultimately reaches the electrode surface. Using this method allows an appropriate amount of gas reacts with the sensing electrode to form a sufficient electrical signal while preventing electrolyte leaks out the sensor. Gas spreading through the barrier reacts with the sensing electrode, and the sensing electrode can take the oxidation mechanism or reduction mechanism. These reactions are carried out by the design of the electrode material for the gas to be measured and catalysis. Electrical current proportional to the measured gas flows between the positive electrode and the negative electrode through a resistor connected between the electrodes. As this process creates electrical current, the electrochemical sensor is always called current gas sensor or micro fuel cells. In practice, since the electrode surface reacts continuously, the sensing electrode potential cannot be maintained constant, after a longer period of time, it will result in the degradation of sensor performance. In order to improve sensor performance, people introduces reference electrode in the sensor. The reference electrode is mounted in the electrodes nears the sensing electrodes, The fixed stable potentiostatic acting as the sensor electrode. Reference electrode can be maintained on such a fixed voltage value in the sensor electrode. There is no current flows between the reference electrodes. Gas molecules react with the sensing electrode, at the same time, measure the counter electrode. The measurement result is usually directly related to the gas concentration and the voltage value affects on the sensing electrode can be aimed at the target gas. Main components A. Breathable film (also referred as a hydrophobic membrane): breathable membrane is used for covering the sensor (catalytic) electrodes, used in some cases to control the amount of the gas molecular that reaches the surface of electrode. Such barriers are typically made by low-porosity Teflon film and such sensors are called coated sensor. Alternatively, we can also use the high-porosity Teflon membrane covering, using capillary control the amount of the gas molecular reaches the surface of the electrode and such sensors are called capillary type sensor. In addition to providing mechanical protection for the sensor, the film also has the function of filtering out unwanted particles. In order to send the correct amount of the gas molecules, we need to choose the right film and capillary aperture size. Aperture size should be able to allow a sufficient amount of the gas molecules to reach the sensing electrode. The aperture size should also prevent leakage of liquid electrolyte or dry too quickly. B. Electrode: selecting electrode materials is very important. The electrode material should be a kind of catalytic material, to be able to perform the semi-electrolytic reaction in a long period of time. Typically, the electrode is manufactured by noble metal, such as platinum or gold, reacts with gas molecules after catalysis. Depending on the design of the sensor may be, for the completion of the electrolysis reaction, three kinds of different materials of electrodes may be used. C. Electrolyte: The electrolyte must have enough promotion to electrolysis reaction, and transfer the ionic charge to the electrode effectively. It also must be able to form stable reference potential with reference electrode and be suitable to the materials used in the sensor. If the electrolyte evaporates too quickly, the sensor signal will be weakened. D. Filters: Sometimes the front of the sensor will be installed with the washing filter to filter out unwanted gas. There are limited selections for fileters, different filter has different efficiency degree. Most commonly used filter medium is activated carbon, and activated carbon can filter out most of the chemicals, but cannot filter out carbon monoxide. By selecting the correct medium, electrochemical sensors may have a higher selectivity for its target gas. The electrochemical sensor manufactured in many ways, ultimately depends on the gases to detect and manufacturers. However, the main characteristics of the sensor is very similar in essence. Here are some of the common characteristics of the electro-chemical sensors: 1. The three-electrode sensors, usually use a jumper to connect the working electrode and reference electrode. If remove it during storage process and it takes a long time for the sensor to maintain stable and ready for use. Some sensors require a bias voltage exists between the electrodes and in this case, the sensor is manufactured with a nine volt battery powered electronic circuit. The sensor stability requires 30minutes to 24 hours, and requires three weeks time to continue to remain stable. 2. Most of the toxic gas sensors require a small amount of oxygen to maintain the normal function. The sensor equipped with an air vent on the back in order to achieve this object. Our recommendation is to perform a re-examination with manufacturers in the use of non-oxygen background gas applications. 3. The electrolyte of the battery in the sensor is an aqueous solvent to be isolated, the hydrophobic barrier prevents leakage from the aqueous solvent. However, like other gas molecules, water vapor can pass through the hydrophobic barrier. In high humidity conditions, the prolonged exposure may result in the accumulation of excess moisture and cause leaks. Under low humidity conditions, the sensor may dry. Designed for monitoring a high gas concentration sensor having a lower porosity barrier to limit the gas molecules passing through, so that it does not affect by humidity, and like those monitoring low concentration gas, such sensors have a higher porosity barrier and allows gas molecules to flow freely. Pressure and temperature The electrochemical sensor pressure changes with impact minimally. However, due to the differential pressure may damage the sensor, so the entire sensor must maintain the same pressure. Electrochemical sensor is also very sensitive to temperature, and usually takes the internal temperature compensation. So it is best to try to keep the standard temperature. In general, when the temperature is above 25 Â ° C, the sensor readings are higher; below 25 Â ° C, lower readings. The error by temperature effect is usually from 0.5 to 1.0% per degree Celsius, depending on the manufacturer and the sensor type. Selectivity The electrochemical sensor usually has a high selectivity to its objectives. The degree of selectivity is dependent on the sensor type, objective gas, concentration of the target gas to be detected. The best electrochemical sensor is a sensor of the detection of oxygen, it has a good selectivity, reliability and a longer life expectancy. Other electrochemical sensors are susceptible to interference from other gases. Interference data can be drawn by a relatively low concentration of the gas calculated. In practical applications, the interference concentrations may be high to mislead signal make false readings or false alarms. Reference Electrodes Typically, use of reference electrode is to remain at a constant potential, thus behaving independently from the properties of the working electrode and those of the solution being measured. This separation method between reference electrodes and working electrodes is the basis of accurate electrochemical measurements for a great amount of applications, Example: Solid-State Reference Electrodes Reference electrodes have been put in use in a variety of industries, but usually traditional reference electrode composition is not adequately effective and fails to work properly when subjected to harsh industrial processes. Traditional reference electrodes depend upon a liquid solution for appropriate potential measurements. Liquid solution-based reference electrodes are in widespread use; however, successful miniaturization and mass production is severely limited by continual maintenance as well as contamination control. The alternative is a solid-state reference electrode (SSRE), but typically these devices cannot compete adequately with the reproducibility of liquid-based reference electrodes or be mass-produced consistently. Recently, a novel SSRE was developed using a polyelectrolyte junction and was able to fabricate a SSRE and a pH-sensing chip that displayed excellent reproducibility between synthetic batches, instant stabilization time, and superior sensing characteristic s and can be readily miniaturized for affordable mass-production. By using a solid KCl melt in conjunction with an Ag/AgCl component, in order to use in beverage industry applications. This SSRE has a wide range of pH use, stable potentials, and small drift potentials. The reported stability and life time of this reference electrode make it particularly applicable for the food industry. In addition to food industry, engine diagnostics are utilizing SSRE to assess efficiency. Potentiometric sensors Potentiometric sensors have usually been defined as a zero-current technique to measure the potential across an interface, oftentimes a membrane. As now, research has been focused on highlighting the significance of membrane composition using carbon pastes and polyvinyl chloride as well as unique ionophores specifically designed for targeted species. Example:Ion selective Scientists in this field are facing a challenge ranging from medicinal chemistry to environmental toxicity is that novel ion selective electrodes (ISEs). ISEs typically use an ionophore as the sensing platform to ensure selectivity to a specific ion of target. The increasing use of heavy metal and ion in industrial processes makes ion selective sensors important for the appropriate sensing and quantification of potential pollutants. Use and research were divided into cations, anions, and neutral species and got great achievements. Voltammetric sensors Voltammetry provides an electroanalytical method for deriving information about one or more analytes by measuring the current as a function of the potential. Several types of experiments may be performed to gather information from voltammetry including cyclic voltammetry, squarewave voltammetry, and stripping voltammetry to name a few common techniques. Example: Carbon Based Materials Carbon based electrodes have been widely used in voltammetric research because of low cost, availability, stability, and the ability to easily modify the morphology of carbon. There are a number of carbon-based electrodes including glassy carbon. Polycrystalline boron doped diamond, carbon nanotubes, and most recently grapheme. Through the detection of the neurotransmitter serotonin, they found that pristine carbon nanotubes networks exhibited background current densities that were 2 orders of magnitude lower than glassy carbon and 20 times lower than polycrystalline boron doped diamond. Numerous advantages of using carbon as an electrode tip including mechanical strength and inhibition of water electrolysis. Amperometric sensors During an amperometric measurement, the working electrode, or sensor , is held at a constant potential while the current is monitored. The current is then related to the concentration of the analyte present. Example: Novel materials/ composites Use of new materials, especially manomaterials, has become an increase of research in electrochemical sensors. The incorporation of these manomaterials in conjunction with one another to form novel composites is particularly interesting, as many of these materials have been found to have synergistic effects. Electrospun carbon nanofibers provide more edge sites on the outer wall than carbon nanotubes, which may lead to more facile electron transfer, better dispersion, and better wettability. And the low cost, facile construction, high sensitivity, and lack of pretreatment make it appealing for future electrochemical sensing application.

Coral Reefs Essay -- Environment, Global Degradation

Coral reefs have been undergoing global degradation due to increasing natural and anthropogenic impacts for at least the last half-century. The intensity and frequency of stressors, including global climate change, have rapidly increased in number over recent years (Hughes & Connell 1999; Hoegh-Guldberg et al. 2007; Pandolfi et al. 2011). Frequent disturbances such as hurricanes/cyclones, predation outbreaks, diseases and mass bleaching events eat-away at the percent of living coral cover and without recovery, the available space is colonized by sponges, soft corals, and macroalgae. These alternative organisms are often competitive dominants in less than ideal conditions (Norstrà ¶m et al. 2009). The transition is termed a phase-shift from a coral-dominated landscape to one that is dominated by other benthic organisms. Phase-shifts are also often associated with low-herbivory (from disease and/or overfishing) and nutrient enrichment (from run-off and coastal eutrophication)(see Re lative Dominance Model in Littler et al. 2006; 2009). The resilience of particular coral species to recover and/or resist disturbance and subsequent phase-shifts may be indicative of which coral reefs are more or less imperiled. Macroalgae are frequently the competitive dominant driving phase-shifts, thus â€Å"coral-macroalgal phase-shifts† is widely used to describe unusually low-levels of coral cover and a persistent state of high macroalgal cover. There have been a number of studies and reviews describing the negative effects of macroalgae and phase-shifts on coral reefs (Done 1992; Hughes & Connell 1999; Hughes et al. 2003; Hughes et al. 2007; McCook et al. 2001; McManus & Polsenberg 2004; Birrell et al. 2008; Bruno et al. 2009). Potential competitive... ...(SML) microbial samples were collected in Belize, the Florida Keys, and St. Thomas U.S.V.I. along interaction gradients between two ubiquitous Caribbean corals (Montastraea faveolata and Porites astreoides), and their interaction with foliose brown macroalgae (Dictyota menstrualis), and calcareous green macroalgae (Halimeda opuntia). These macroalgae were chosen because they are known to reduce coral growth rates, increase coral tissue mortality, and produce potent allelochemicals that are active against coral reef microorganisms (Ballantine et al. 1987; Lirman 2001; Beach et al. 2003; Rashar & Hay 2010; Morrow et al. 2011). We show that macroalgae can shift M. faveolata microbial assemblages more readily than P. astreoides. We also found that coral microbial assemablages of both species were less stable in Florida than at Belize or St. Thomas sampling sites.

Synopsis of Renaissance Play, The Roaring Girl

Mary Fitzgerald visits her love Sebastian, dressed as a semester. They were betrothed and something has happened to stop the marriage. Sebastian tells Mary about Moll, whom he's pretending to love to trick his father. Scene 2: Sir Alexander (Sebastian Father) is having guests over. He takes them on a tour of his home and then tells them a story of a man who is in love with a Moll! (Mary and Sebastian were betrothed until his father discovered how low the dowry was, and then he decided not to allow the marriage.Sebastian then pretends to be in eve with Moll to trick his father into letting him marry Mary) A monster†¦ It comes to light that the story is about his own son and Sebastian gets offended and storms out. Sir Alexander then hires Trapdoor to spy on Moll, track her down, and kill her. Act 2: Scene 1: Scenes opens at a group of stores. Here Lagoon is trying to borrow money from Mrs.. Gallop. He pretends to want to sleep with her when really he is using her to get money. (He acts like they have never had the opportunity) We also find out that Lagoon wants to pay Moll for sex†¦ E offers and they agree on a time and place, Gray Inns Fields at 3:00. We have Goshawk who is told a by Mr.. Openwork that he has been seeing a prostitute but sworn to secrecy (Goshawk later in the scene tells his secret because he wants to seduce Mrs.. Openwork) We also see Mrs.. Openwork insult Moll and yell to get out of her store because Moll is considered a where, low class, thief, trash, etc. We also know Moll cross dresses and she pulls a sword on a man who assaulted her at a local tavern. Then Trapdoor approaches Moll and pretends to be her friend, asks to be at her service.They agree to meet at Gray Inns Fields as well between 3:00-4:00. Scene 2: Sebastian is lamenting to himself saying a free man should marry who he wants. His father is hiding in the room and Sebastian sees him but pretends not too. Then Moll and a Porter enter with a Viol. Sebastian then begs Moll for marriage and she states that she is simply too independent to marry. Sir Alexander is dumbfounded. Moll tells him she could possibly love him, but to rethink his proposal, for he could be being too hasty. Then a tailor enters and takes measurements for Molls manly clothing (pants).Moll and Tailor leave and Sir Alexander makes his presence known. He yells at Sebastian for using bad Judgment, he is bewitched, and badmouths Moll saying their marriage would disgrace him. Sebastian defends her saying she is only guilty of having a strong spirit and mingling with male friends. Then Sir Alexander leaves and we hear Sebastian saying how he is using Moll to get Mary. Act 3: Scene 1: Moll meets Lagoon and she takes his money. Then she pulls off her cloak and draws a sword and challenges a duel. She wants to teach him a lesson that not all women are whore's.She says if it were not a sin, women would be better off to sleep tit men, for they lie about it anyway and treat them with disrespec t. They fight and she wins. Lagoon apologizes and leaves. Shortly after, Trapdoor shows (and later he tells Sir Alexander that Moll had met with Sebastian that day) but he doesn't recognize her at first dressed like a man. He then follows Moll. Scene 2: This scene opens with Mrs.. Gallop being somewhat moody and angry before her guests arrive. Mr.. Gallop comes in and asks her if she's pregnant. He unknowingly delivers a love letter from Lagoon (requesting 30 more pounds) Mr..Gallop walks back in and catches her reading the letter. She tears up the letter and to cover up her scheme she tells him that she and Lagoon had a contract to be married, but she thought he was dead. Now he has tracked her down (at the cost of 30 pounds) and wants to marry her. He doesn't want a court battle so agrees to pay Lagoon. Then the guests arrive, they think Mrs.. Gallop is ill and she should lay down, so they leave. Then Lagoon arrives and he falls into the plan (he did not know until he picked up hi nts from Mrs.. Gallop). He then acts angry at the fact not being able to marry her†¦ E says he would marry her no matter what. He takes the 30 pounds and the Gaslight's leave. The scene closes with Lagoon saying women are deceiving. Scene 3: (Sir Alexander acts like Trapdoor owes him money so he can run and talk to him) Scene opens with Trapdoor telling Sir Alexander that he has Moll on the ropes. Trapdoor tells him that Moll meets Sebastian dressed as a man (and says they met that day at three†¦ Moll had once again tricked them) Then we see Sir Dad who is Jack Diapers' father talking about how bad/wild his son is. He tells his plan to hire policeman to arrest Jack, put him in Jail to teach him a lesson.Sir Dad is talking to he two cops (Curtail and Hanger) and they do not realize they are talking to Sir Dad (they insult him to his face and look like fools) The cops go looking for Jack, but Moll and Trapdoor overhear them and warn Jack before they can catch Jack. The cops get angry at Moll, and she's pleased with her ‘good deed'. Act 4: Scene 1: Opens again with Trapdoor bragging that he has Moll. Sir Alexander tries to set Moll up by planting expensive items for her to steal. (Gold Chain, money). They exit and Moll, Mary (both dressed as men) enter with Sebastian. They are talking, Moll tells that she has never initiated (or had) sex?Then Moll sings and later sees the gold chain and diamond. Sebastian then plans to give 40 pound to Moll (maybe to pay for her help? ) Sir Alexander knows who Moll is, but pretends not to know when he enters. And Sebastian covers saying she is a musician and he is paying for her services. Scene 2: This scene opens with Mrs.. Gallop and Mrs.. Openwork talking. Mrs.. Openwork admits to knowing what Goshawk is up to†¦ She says she asked her husband about the affair and she also knows Goshawk wants to date her. Mrs.. Gallop then admits that Lagoon was after her too, but she is finally rid of him as well.Goshawk e nters and offers to try to trap Mr.. Openwork in an affair(? ) They put on masks and Lagoon enters. Then so does Mr.. Openwork. He wants them to take off the masks and she lets him know they are angry (Goshawk doesn't know Mrs.. Openwork told Mr.. Openwork that he told his secret, so he gets really nervous thinking she is going to give him away). Mrs.. Openwork then says for her husband to â€Å"Seek his where† and Mr.. Openwork starts asking who told. No one will tell and he confronts Goshawk, it comes out that Goshawk had told and that everything was a trick to teach him a lesson. Mr.. Openwork had set Goshawk up but now forgives him.Next, Mr.. Gallop enters with Greenest disguised as a Sumner and Lagoon. Lagoon is demanding more money based on Mrs.. Gaslight's lie. Greenest then removes his mask and Mrs.. Gallop tells the truth (and tells that they did not have sex). Lagoon says he was only testing Mrs.. Gallop and was doing it in noble honesty, but says she refused him. L agoon agrees to pay Mr.. Gallop back in full plus interest for what he did. Act 5: Scene 1: Jack Dapper, Moll (dressed as a man) and Sir Beauteous Ganymede enter. Moll tells them that she knows about Trapdoor being a fraud, and Jack says he knows hat he father was the one who sent the cops after him.Then Attract and Trapdoor enter disguised as soldiers (Moll recognizes them) Claimed to have fought in a war that was over 100 years ago. Moll pulls off his patch and reveals him. They still claim to be soldiers and beggars. They give them money. Moll asks Trapdoor if he will still pretend to go along with Sir Alexander plot. Then several structures enter and Moll describes the ways of thieving (busting them), so they leave. Scene 2: Sir Alexander, Goshawk, and Greenest enter. Sir Alexander is still complaining about his son wanting to marry Moll. Sir Guy Fitzgerald enters and aunts him about his son's new choice (? Sir Alexander begs Sir Guy for help, but he is still upset for him not a llowing the marriage to happen in the first place. So Sir Alexander agrees to give up half his estate to get rid of Moll. Then Moll enters it is told that she helped to trick Sir Alexander. Sebastian apologized to his father, Sir Alexander apologized to Mary and Moll states that she did them all a favor. Moll then announces that when gallants are not in fear of being arrested for debt, etc†¦ Then she will marry (in other words, never) Sir Alexander thanks Moll, Trapdoor confesses, and everyone is happy!

Free Essays on Medical Marijuana

Drugs are a very influential part of the everyday norm in the United States today. Many drugs are taken form everyday from regular prescribed pills and the over the counter medicines that are at your local grocery store, to those that can be found in the street. Nevertheless, what is the difference between the two? In America, it is frowned upon in the media for the use of marijuana; it is as if everyone that uses it is going to turn into a crazed person or is not going to be able to take care of themselves or others. If this is the case, why are there now doctors that suggest the use of it? In the 1960’s to the 1970’s, there was a greater acceptance of use of marijuana. There was an understanding that the drug itself should not be in the same class of narcotics (The Legalization Question.) The problem of stereotyping the use of marijuana became out of hand in the mid 1980’s and 1990’s because of the Presidency of Regan and Bush(White House Drug Policy.) Supporters of marijuana think that the government’s bans is in violation of free speech and other rights(Support of Marijuana.) These two had started the â€Å"zero tolerance† on the drug. They felt as if they could put a stop to the sale and use of marijuana then they can stop the â€Å"crimes† that are associated with it. In the past, prohibition has been considered as an option that would stop the use of alcohol. However, as seen and recorded, the prohibition of anything leans to more crimes and more of a larger demand to the public. The U.S. should honor the courage and determination of the people through out the states to find expression in the exercise of a sovereign State's fundamental right guaranteed by the Ninth and the Tenth Amendments of the United States Constitution. In addition, by denying the injunction sought by the federal government, should return the Controlled Substances Act to the established channels of federal authority (The State of California Departm... Free Essays on Medical Marijuana Free Essays on Medical Marijuana One of the most controversial issues in the United States is over medical marijuana. Not just a political debate but as often happens in politics it’s a moral debate as well. The idea of a street drug being used for anything else than a picture of a junkie high on the street is something most people today find hard to imagine. However, times do change and when it comes to medicine new discoveries are made every day. Many experiments test the validity of the drug as a medicine, and results of these experiments receive much praise but also some critique. The DEA and the National Organization for the Reform of Marijuana Laws (NORML) are battling over the issue. The underlying matter that cannot be ignored is that marijuana proves to be a useful medication for many patients, especially those with wasting diseases. This battle dates back to about the 1970’s after the drug culture was extremely high in America. In 1970, Congress passed the Controlled Substances Act. This law assigned psychoactive drugs to five schedules and placed cannabis in Schedule I, the most restrictive. According to the legal definition, Schedule I drugs have no medical use, are a high potential for abuse, and cannot be used safely even under a doctor's supervision. Two years later, in 1972, the National Organization for the Reform of Marijuana Laws (NORML) petitioned the Bureau of Narcotics and Dangerous Drugs (formerly the Federal Bureau of Narcotics) to transfer marijuana to Schedule II, so that physicians could legally prescribe it. The chemical in marijuana that is known to make the affect on these diseases and on the person using the drug is called THC. THC is the active ingredient in marijuana. The course of action they chose took place in 1985 when the government reclassified synthetic THC as a Schedule II drug but kept marijuana itself - and THC derived from marijuana - in Schedule I. With t his action it w as clear that the government knew of the medi... Free Essays on Medical Marijuana Should Marijuana be legalized for medical purposes? â€Å"I just smoke to ease the pain.† This has been heard many times on television interviews of people giving a reason why they smoke marijuana. To some people this may seem like a justified medical cause. This excuse, however, has no medical support at all. There has been no factual evidence to date supporting the fact that marijuana alone helps cure any disease. The psychoactive ingredient in marijuana is, however, currently available from pharmacies, there are many studies disproving the positive effects of smoking marijuana, and ingesting a â€Å"medicine† by smoke inhalation is not good for the body. These statements back up the fact that smoking marijuana has no health benefits. To begin with, the active ingredient in marijuana (THC) is already available in pharmaceutical capsule form by prescription from medical doctors, so why not just get a medication legally if it helps to ease the pain? The pill form of the drug also does not contain all of the combinations of drugs and other ingredients found in a marijuana cigarette; one should be able to reap the benefits just as plentifully if it truly does help ease the pain. The other drug found in marijuana, marinol is removed from the pill form because of the adverse effects it has on patients. Also, physicians should be able to monitor the side effects, if any, that could be linked to other medications. So, in the long term, doctors may develop a form of the active ingredient that could allow maximum comfort for all patients. Secondly, there are many studies showing the harmful effects that prolonged exposure from marijuana can have. Some people may counter by saying that these people are going to die anyway, but why complicate their disease even more by introducing new side effects? A physician employed at the local hospital accounted for a case of an adverse side effect. A woman was smoking marijuana without her d... Free Essays on Medical Marijuana Drugs are a very influential part of the everyday norm in the United States today. Many drugs are taken form everyday from regular prescribed pills and the over the counter medicines that are at your local grocery store, to those that can be found in the street. Nevertheless, what is the difference between the two? In America, it is frowned upon in the media for the use of marijuana; it is as if everyone that uses it is going to turn into a crazed person or is not going to be able to take care of themselves or others. If this is the case, why are there now doctors that suggest the use of it? In the 1960’s to the 1970’s, there was a greater acceptance of use of marijuana. There was an understanding that the drug itself should not be in the same class of narcotics (The Legalization Question.) The problem of stereotyping the use of marijuana became out of hand in the mid 1980’s and 1990’s because of the Presidency of Regan and Bush(White House Drug Policy.) Supporters of marijuana think that the government’s bans is in violation of free speech and other rights(Support of Marijuana.) These two had started the â€Å"zero tolerance† on the drug. They felt as if they could put a stop to the sale and use of marijuana then they can stop the â€Å"crimes† that are associated with it. In the past, prohibition has been considered as an option that would stop the use of alcohol. However, as seen and recorded, the prohibition of anything leans to more crimes and more of a larger demand to the public. The U.S. should honor the courage and determination of the people through out the states to find expression in the exercise of a sovereign State's fundamental right guaranteed by the Ninth and the Tenth Amendments of the United States Constitution. In addition, by denying the injunction sought by the federal government, should return the Controlled Substances Act to the established channels of federal authority (The State of California Departm... Free Essays on Medical Marijuana There are many diseases in which the ‘victim’ may experience symptoms that can be treated by smoking marijuana. AIDS, cancer, glaucoma, and chron’s disease are only a few of the many diseases that can be helped through the use of marijuana. People consider marijuana to be a dangerous drug and are unaware of many medical uses. Because marijuana is stereotyped as a dangerous drug, a bad feeling about the drug is common. There are many groups and even magazines dedicated to trying to get marijuana legalized, such as High Times Magazine, the Cannabis Coalition and the National Organization for the reform of Marijuana Laws (NORML). Others just don’t want to admit that the drug should be used for any reason at all because they feel that it is harmful. A lot of people however, disagree and feel that marijuana should never be legalized, but what about for medical uses? The medical use of marijuana should be legal for people who suffer from a serious disease, and c an be helped by the use of the drug. Marijuana, a.k.a. pot, weed, cannabis, (the list goes on), is one of the most popular drugs being used throughout the country. Marijuana is not the cure to any disease, not by any means, but it does help ease the pain of those who suffer. One such disease is chron’s. This is an incurable, and painful inflammation of the digestive tract that can have life-threatening complications. A good example of this is in the case of Cheryl Johnson. Cheryl is the mother of Simon Johnson, who has chron’s disease. Simon is left with nausea and vomiting from the disease and the medicine that he was put on to control it. The vomiting was so severe that every morning on his way to school he would have to have his mother pull the car to the side of the road so that he could throw up. He often would miss months of school at a time because he was immensely sick. That was before he found marijuana. He now lives a relatively normal life. (Rubenstein, 82) Ma... Free Essays on Medical Marijuana Marijuana is illegal because of its classification as an illicit drug, but there are some issues that have been established saying that this â€Å"illicit drug† has improved the treatment for suffering patients. Marijuana has lots of beneficial effects when used in medicinal settings for the treatment of pain; but it should be an administered drug for patients who can benefit from the use of this drug. Marijuana has had analysis for its use as a medicine and the results showed improvements in the patients who were treated with this drug. Doctors have expressed opposite opinions, making this theme very controversial. I have researched for its positive effects when used properly, so that marijuana can be considered in treating patients. Much of the opposite opinions about this issue have to do with the hands of the government, which says that marijuana is not a safe medicine, versus the doctors who research the topic for medicinal purposes. Nevertheless, not all doctors feel that cannabis should be a â€Å"legal† prescribed medicine; it is in their hands to decide so. The Institute of Medicine has also this controversy when it said smoking marijuana is risky, but also recommended that critically ill patients should be allowed to use it under closely monitored settings (Koch 707). A specialist at the National Cancer Institute authorized his patients to use the drug, but not over do it (Koch 708). With all this, one would think that doctors wouldn’t be so enthusiastic to offer the drug as a reliever. The National Institute of Drug Abuse puts approximately 300 free joints each month for patients who are in an experimental program . The Government proclaims there is no therapeutic value in the medicin al use of marijuana, but they do not have hard evidence to prove it. Ira Glasser, executive director of the American Civil Liberties Union, (at a congressional forum) expressed: â€Å"the government has demonized all drug use without differen...