Passing As An Integral Part Of African American Literature

Kevan Josephs 04/29/15 Dr. Rose-Brown ENGL-244 Caucasia â€Å"Passing as white is, of course, how modernists would have understood the term. But even in this, its first cultural sense, passing is far more complicated than the notion of Wearing a mask or of assuming a fraudulent identity would suggest†¦Passing—actual and Imaginary, conscious and unconscious—at once produced profound shifts in thinking About the boundaries of identity and aroused ambivalence about those shifting, unstable Borders† (Caughie 387). This Quote is from Pamela Caughie‟s article â€Å"Passing as Modernism† which defines the reason behind passing, According to Caughie passing isn t simply pretending to be white, but is way for an individual to shift the†¦show more content†¦While there are parallels in traditional novels of passing; including fear, sacrifice, isolation, and conflict, Danzy Senna‟s Caucasia, novel falls within a different category of having a mixed-race character who willing embraces both their black and white identities. This presents the controversy of passing and racial identity, separately from Nella Larsen‟s Quicksand and Jessie Fauset‟s Plum Bun in which their mixed race characters primarily wish to embrace their white identity. Caucasia being set after the civil right act, describes the personal story of Birdie Lee, a young biracial girl growing up in Boston in the late 70’s to early 80’s. Birdies’ fath er is a black intellectual who has risen up from the tenacious circumstances of his youth, he spends most of his time preoccupied with his theories of origins and effects of racism; her mother on the other hand comes from and aristocrat family to which the book refers to as â€Å"blue-blood†, she is a turned revolutionary who is concerned more with direct action against racism than its theory. Birdie’s older sister Cole, has darker skin than Birdie and is noted that the two do not look very much alike, but they however have a very exclusive relationship and even share their own language called Elemento. Birdie is very fond of Cole as she was the first person she saw when she was born â€Å"Before I ever saw myself, I saw my sister. When I was

Impact Of Tourism On The Tourism Industry - 922 Words

We now live in an age penetrated with revolution, cooperation and competition. With the dramatic development of the global economy and industrialization, there has been a dramatic increase in travel over the last few decades. Ashworth, G. Page, S.J. argue as if it is a general truth that â€Å"the tourism industry clearly needs the varied, flexible and accessible tourism product that cities provide: it is by no means so clear that cities need tourism† (Urban Tourism Research: Recent progress and current paradoxes, Tourism Management, Vol. 32, pp 1-15.). This essay, supports part of the quote, which claims that it is necessary for contemporary cities to offer several types of tourism products for the tourism industry which could be easily reached to the tourists. However, it is doubtful that the tourism modern-day cities do not need the tourism industry. The structure of the paper is as follows. This essay is written from two aspects. In the first place, explaining the reason why I think variable city tourism products are needed. (The following parts would explain the relevant theory, opinion and then exemplification). In the second place, pointing out the fact that some cities do need the tourism industry to boost their economy. These two parts are independent to each other. 2. The relationship between the tourism industry and tourism products 2.1 What is a tourism product? Mason (2000) and Poerwanto (1998) have made the formulation of the components of tourism product,Show MoreRelatedTourism Industry And Its Impact On Tourism1318 Words   |  6 PagesIn the pacific, the tourism industry has been growing rapidly in size and in investment lately and shows no sign of slowing down. However, the newer tactics and ways to generate profit for the tourism industry today have impacted the land, environment, and culture of the area being exposed to tourism (Taylor Francis, 325-327). 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It will discuss the transport industries structure and basic function in relation to its size and scale within AustraliaRead MoreImpact Of Tourism On The Tourism Industry875 Words   |  4 Pagesas if it is a general truth that â€Å"the tourism industry clearly needs the varied, flexible and accessible tourism product that cities provide: it is by no means so clear that cities need tourism† (Urban Tourism Research: Recent progress and current paradoxes, Tourism Management, Vol. 32, pp 1-15.). This essay, supports part of the quote, which claims that it is necessary for contemporary cities to offer several types of tourism products for the tourism industry which could be easily reached to theRead MoreThe Impact Of Tourism On The Tourism Industry Worldwide1270 Words   |  6 PagesResponsible tourism/travel is about making better places for people to live in and better places for peop le to visit. 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Governments introduce different laws and regulations which every individual and business must follow or adapt to, organisations often have to change the way they operate due new policies, and these alterations cost a lot of capital and if they fail to follow the rules, organisationsRead MoreThe Size and Economic Impact of the Hospitality and Tourism Industry3276 Words   |  14 PagesThe Size and Economic Impact of the Hospitality and Tourism industry: Tourism is a massive industry in New Zealand. It has a major consequence on the rest of the economy from the employment it provides to a major percentage of the workforce (9.6% of the total workforce in New Zealand), thereby contributing to the Gross Domestic Product (GDP). The tourism growth in New Zealand is the outcome of the numerous of options that the hospitality industry offer visitors from all over the world. Some ofRead MoreAid For Airline And Its Impact On The Tourism Industry1473 Words   |  6 PagesAid for Airline? Qantas airlines are an iconic Australian business, which has heavily shaped the tourism industry. However in the 2013-14 financial year, (Qantas, 2014, pg.1) due to falls in revenue, growing competition and high expenses the airline reported a 2.8 billion dollar loss. (Mccrann, 2014) It was then that the company felt it required government support to assist them in getting back on their feet. Commonly referred to as a â€Å"bailout† and in this case more specifically a â€Å"debt guarantee†

Current Change Management Theory

Question: Discuss about theCurrent Change Management Theory. Answer: Introduction In the context of professional and personal domain, change is likely to be constant. It requires immense time and energy to cope in this ever changing world. In order to make the task easy several individuals have designed various models to manage change in structural manner. Managing change is a process wherein the range of an assignment is altered in order to fulfill the changing requirements. It requires structured models and a planned outline to be able to move from existing state to a preferred state. Effective change management is required to ensure that the operations are as per budget and the work gets converted into increased ROI. In this ever changing fast paced environment, it is all the more essential that businesses do not apply random methods, but regularly ensure structured changes and adopt new methods to meet the business requirements. It is a continued activity that requires both time and expertise to be executed effectively. Change management involves the employees of the company as the change affects both the organization as well as the employees. Lewins Change Management Model The first model that is discussed in the report is the very famous and successful model created by Kurt Lewin in the year 1950. It is still valid in todays business environment. Lewin explained the model by the changing forms of ice. The three stages explained by him are unfreeze, change and refreeze. The first stage requires thorough groundwork for the change; therefore the business should make the mind that change is essential and therefore unavoidable. This is an important stage because as per human tendency, people resist to change. Therefore, at this stage it is important to enlighten people the need for the change and what benefits the change will bring in. The next stage is the stage where the actual change happens (Hossan, 2015). It is a lengthy stage as it requires time, as people embrace the changed progress. In this phase, there is a need of good leadership to make the transition process easier for its people. To ensure success of this stage time and communication has to b e invested. The third phase is to refreeze as the change has happened and been implemented. This phase requires people to be back to their routine. This step requires that changes are implemented even after the objectives of change have been met. Relevance of the Model The model is although too simple, but still it is relevant to isolated change assignment like government projects etc. The model contributes to understanding the behavior of individual and group components therefore it is valid today. The model might not work in case of very unstable business environment. Also, the model uses top down management approach which makes it more applicable for small business with slow change deadlines. For businesses which require continuous innovation, an employee driven change would be more suitable. McKinsey 7 S Model The next model that is discussed is the McKinsey 7 S Model created by consultants of the company in the year 1980. This model is one of the models that have stayed with the changing times. The model involves seven stages. The first stage is a strategy where step by step planning is done to achieve the goals (Team, 2015). The next stage involves the structure that has to be followed. Then comes system stage whereby an order of the task relating to daily activities is carved out. Next are the shared value that is the main worth of the business that have to be incorporated. The next stage is the style which discusses the way in which the change is executed. Next S refers to staff and their capacity to perform the task. Finally, seventh S is the skill of the employee (Normandin, 2012). Relevance of the Model in Todays Organization This model is still relevant in todays organizations as it provides a manner to understand the uniqueness of every organization and incorporates both emotional and practical aspects of change for a successful transition of change. Also the model incorporates all parts of the change and do not leave any essential component. It also provides a direction to the business for change to take place successfully. The only drawback of using this model is that all the components are dependent on each other, therefore failing in one area means failing of all the parts (Connelly, 2016). Kotters Change Management This theory was invented by John P. Kotter, Harvard Business School Professor through his book Leading change; it is most popular and adopted theories in the world. This theory is divided into eight steps which focuses on the concept that how people will change. These stages are as follows: - Create Urgency - This step involves creating urgency among people in order to motivate them towards change. This is done by conversing openly about market competition. If many people start talking about it, the urgency is built. For this, the organizations identify threats and analyze what can happen in future; opportunities should be discussed and not be ignored. Then discussions can be held to bring dynamism and convince people to think about change. Build Team Under this step, Kotter suggests that the right people should be selected with a good mix of commitment, skills and knowledge. To lead change, powerful or influential people with wide sources, skills should be united. Teams can be formed from stakeholders asking for emotional commitment from them to drive change. Next is Create Vision This stage includes creating the correct vision through creativity and emotional connect linking all the great ideas and solution leading to change. A clear vision will help everyone to under stand the concepts clearly. A short summary should be prepared which clarifies the future of the organization and create a strategy to execute change. Communicate the vision The vision should be well communicated to people. This will determine the success of the organization. The vision can be communicated not only through the meeting, but anytime when a person gets a chance. This can be done when the leaders talk about their vision daily and address the anxiety and concerns of people daily with open and honest hand. Next comes Remove Obstacles There will be some barriers and resistance to change. Continuous follow ups and barriers should be checked and steps should be taken to remove them so that the vision can be executed successfully. Change Leaders should be identified who can communicate and deliver the change, people who are resistant to change and other barriers should be identified to implement change successfully. Actions should be taken to remove these obstacles. Create short term Win Show some quick wins of change to staff, which will them to motivate. Create short term targets and while achieving them, many people will be influenced (Heraclitus, 2016). Rewards should be given to people while achieving these targets. Build Change Change is a long and deep process. Management should not be just happy because of quick win; in fact real change is deep. After every win, realize and make new steps towards achieving the vision and continuous improvement should be implied to processes. Anchor changes in corporate culture. Finally, the changes should become part of your organization culture. The change should be seen in every aspect in day to day work. Support from people is very important in this. Relevance in Todays Organization These steps are very important for todays organization as well. These are easy steps to incorporate and follow. Accepting change is important to change to happen successfully. Ericsson successfully applied these steps in their change managing projects in 2008 when they entered 4G network and other projects (Shurrab, 2014). Adkar: Simple Powerful, Action Oriented Model of Change This model is a practical model which answers change management for all stakeholders. While all other models focus on steps, this model suggests that change occurs when every person is able to change successfully. Developed by Jeff Hiatt, CEO this model focuses on 5 actions necessary for change (Hiatt, 2006). These five steps are building blocks to success and each should be completed while moving to the next. The first step is Awareness for Change For any change to happen, it is important to understand why this change is necessary. Planned communication is necessary; when this step is completed the individual will fully understand why change is important. Desire to support change Once awareness of change is clear, the individual develops desire to participate and support change. Desire can be built when an individual is offered incentives to be part of the change. Knowledge on how to change - Knowledge on change can be provided by normal training and education method. Few methods of training are coaching, mentoring etc. Ability to implement skills The individual has to adapt skills while on practical performance; this can take some through coaching and practice. Reinforcement - It is been ensured that individuals dont turn to old methods of performance and take corrective action (Prosci Change Management Team, 2013). Relevance in Todays Organization This model is most used in todays organization. When a Texas group wanted to digitalize, this biggest change management was done through Adkar method. A change management network was built which provided information, tips to all individual so that resistance to people decreases. They prepared dress rehearsal activities to implement change successfully. Surveys were conducted about peoples opinion and knowledge. This model hence is most popular among organizations to implement change successfully (Prosci Inc., 2014). Recommendations and Conclusion The report discusses four change models and its relevance in todays environment. In a model like McKinsey 7 S Model, all the factors are interrelated and interdependent on one another, the failing of one part means failing of all and this is the greatest disadvantage of this model. Also, some models are complex as compared to the others, therefore the models should be chosen as per the structure of the organization. For an example, the model which uses top down management approach should be applied for small business with slow change deadlines and for businesses which require continuous innovation, an employee driven change would be more suitable. References Connelly, M., 2016. Change Management Models, Available at: https://www.change-management-coach.com/change-management-models.html Heraclitus, 2016. Kotter's 8-Step Change Model. Implementing Change Powerfully and Successfully. Hiatt, J., 2006. The Essence of ADKAR: a model for individual change management: Prosci, Available at: https://www.change-management.com/The-Essence-of-ADKAR.pdf Hossan, C., 2015. Applicability of Lewins Change Management Theory in Australian Local Government. International Journal of Business and Management, 10(6), pp. 1-13. Normandin, B., 2012. Three Types of Change Management Models. 28 August, Available at: https://www.quickbase.com/blog/three-types-of-change-management-models Prosci Change Management Team, 2013. Prosci: Change Management Series, Available at: https://www.change-management.com/prosci_change_series.pdf Prosci Inc., 2014. Case study - impact of effective change management, Available at: https://www.change-management.com/tutorial-why-case-study.htm Shurrab, H., 2014. The Eight Step Model of Change - a Case Study on Ericsson. April, Available at: https://www.slideshare.net/hafezshurrab1/the-eight-step-model-of-change-a-case-study-on-ericsson Team, C., 2015. Major Approaches Models of Change Management, Available at: https://www.cleverism.com/major-approaches-models-of-change-management/

The Fed and Interest Rates Dave Pettit of The Wall Essay Example For Students

The Fed and Interest Rates Dave Pettit of The Wall Essay The Fed and Interest RatesDave Pettit of The Wall Street Journal writes a daily column that appears inside the first page of the journals Money ; Investment section. If the headlines of Mr. Pettits daily column are any accurate record of economic concerns and current issues in the business world, the late weeks of March and the early weeks of April in 1994 were intensely concerned with interest rates. To quote, Industrials Edge Up 4.32 Points Amid Caution on Interest Rates, and Industrials Track On 13.53 Points Despite Interest-Rate Concerns. Why such a concern with interest rates? A week before, in the last week of March, the Fed had pushed up the short-term rates. This being the first increase in almost five years, it caused quite a stir.When the Fed decides the economy is growing at too quick a pace, or inflation is getting out of hand, it can take actions to slow spending and decrease the money supply. This corresponding with the money equation MV = PY, by lowering both M and V, P and Y can stabilize if they are increasing too rapidly. The Fed does this by selling securities on the open market. This, in turn, reduces banks reserves and forces the interest rate to rise so the banks can afford to make loans. People seeing these rises in rates will tend to sell their low interest assets, in order to acquire additional money, they tend move toward higher yielding accounts, also further increasing the rate. Soon this small change by the Fed affects all aspects of business, from the price level to interest rates on credit cards.Rises and falls in the interest rate can reflect many changes in an economy. When the economy is in a recession and needs a type of stimulus package, the Fed may attempt to decrease the interest rates to encourage growth and spending in the markets. This was the case from 1989 until last month, during which the nations economy was generally considered to be in a slight to moderate recession. During this period the Fed tried to keep interes t rates low to facilitate growth and spending in hard times. However, when inflation is increasing too quickly and the economy is gaining strength, the Fed will attempt to raise rates, as it did late last March. This can be considered a sign that we are pulling out of the recession, or atleast it seems the Fed feels the recession of the early nineties is ending.Directly after the Feds actions, the stock market was a mess. The Dow took huge dips, falling as much as 50 points a day. Although no one knows exactly what influences the market, the increase in interest rates played a major role in this craziness. Mr. Pettits column on March 25th highlights, Industrials Slide 48.37, Mr. Pettit attributes a large portion of the markets tailspin at this time to, Rising interest rates at home. It is certainly no coincidence that these two events happened at the same time.Alan Greenspan, the current chairman of the Fed comes under great attack and praise with every move the Fed makes. He is, in a sense, the embodiment of the Fed. He has been in charge of the Fed since 1987. Some economists blame him for the recession of the early nineties. His influence on the interest rates as chairman of the Fed is monumental. It is his combined job as the Fed to steer the economy in a balanced manner that does not yield too much to inflation and to keep growth steady. Predictably, most economists are back seat drivers when it comes to watching the actions of Allen Greenspan, and they tend to feel they could much more successfully manage the economy than he. Many also agree with his tactics, so it is a two way street on which the chairman is forced to drive.It seems that not only the analysts are in disagreement of how the fed should operate, but interestingly enough, the internal policy makers seem to also disagree on what stance the Fed should take. Some of the internal policy makers are interested in making a more substantial increase now, while others opt for a more conservative app roach, where the market can be tested for both good and bad influences from the rate increases. Allen Greenspan is one of this more conservative group, and it is he is critisized by some for the irradic behavior in the stock market as of late.The equilibrium that the Fed is looking for occurs when an interest rate is set that makes the quantity of real money available be willingly held. Because this is such a delicate system this equilibrium is never exactly met, and the Feds job is to try to keep the market at or near this form of equilibrium. Unfortunately this case is never exactly met, and the market can easily suffer because of it. Summary of Articles: US News (Late March 1994) -Interest Rates: The Fed Strikes AgainThis article covers a brief explanation of exactly what the Fed did, covering the major factors and influences of the Feds actions. It pays special attention on the issue of inflation, and how different forecasters will interpret the Feds actions. Overall, this artic le gives the reader a good understanding of what took place, and what repercussions are likely to come about because of it.The Wall Street Journal (Mon. March 28, 1994) -Fed Was Divided on Rate-Rise Size Voted in FebruaryThis article shows an interesting perspective of the Fed. It discusses the fact that the Feds policy makers were somewhat split between those who were looking for a slight increase as opposed to one of somewhat greater magnitude. This article is interesting because it shows that even the Fed can be uncertain about what is best for the economy, but it still focuses on the power of Allen Greenspan, as well as the committee as a whole. It compares the two arguments of each method, and shows a weakness in the Fed that may have been unknown to the reader before. The Wall Street Journal (Mon. April 11, 1994) -Fed Moved Too Slow On Increasing RatesThis recent article criticizes the Feds actions in raising the interest rate, and complains that the Fed has fallen behind in i ts job. It discusses the plan for a Neutral policy and what the Fed has tried to do and not do to maintain this so called policy. It argues the motives and reasons for wanting a lower interest rate and compares past decades to todays standings. Overall it focuses deeply on the need to check inflation and if it is valid. It shows that the Fed tends to take a more conservative approach to the economy than some analysts would prefer, but that the Fed will probably continue to raise interest rates. .ub5ad1352f8aa3f77b774a209c45aaac3 , .ub5ad1352f8aa3f77b774a209c45aaac3 .postImageUrl , .ub5ad1352f8aa3f77b774a209c45aaac3 .centered-text-area { min-height: 80px; position: relative; } .ub5ad1352f8aa3f77b774a209c45aaac3 , .ub5ad1352f8aa3f77b774a209c45aaac3:hover , .ub5ad1352f8aa3f77b774a209c45aaac3:visited , .ub5ad1352f8aa3f77b774a209c45aaac3:active { border:0!important; } .ub5ad1352f8aa3f77b774a209c45aaac3 .clearfix:after { content: ""; display: table; clear: both; } .ub5ad1352f8aa3f77b774a209c45aaac3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub5ad1352f8aa3f77b774a209c45aaac3:active , .ub5ad1352f8aa3f77b774a209c45aaac3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub5ad1352f8aa3f77b774a209c45aaac3 .centered-text-area { width: 100%; position: relative ; } .ub5ad1352f8aa3f77b774a209c45aaac3 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub5ad1352f8aa3f77b774a209c45aaac3 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub5ad1352f8aa3f77b774a209c45aaac3 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub5ad1352f8aa3f77b774a209c45aaac3:hover .ctaButton { background-color: #34495E!important; } .ub5ad1352f8aa3f77b774a209c45aaac3 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub5ad1352f8aa3f77b774a209c45aaac3 .ub5ad1352f8aa3f77b774a209c45aaac3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub5ad1352f8aa3f77b774a209c45aaac3:after { content: ""; display: block; clear: both; } READ: The African Lion Essay We will write a custom essay on The Fed and Interest Rates Dave Pettit of The Wall specifically for you for only $16.38 $13.9/page Order now

Factors Affecting the Changes in Oil Price

Introduction Statement of the thesis The decline in oil prices is likely to cause an increase in consumption, a decrease in inflation, and an increase in real GDP growth rate in the next few years. In recent times, oil prices have been falling and seem to stabilize at around 40 dollars a barrel.Advertising We will write a custom research paper sample on Factors Affecting the Changes in Oil Price specifically for you for only $16.05 $11/page Learn More This paper will examine factors determining the changes in oil price and how it affects the country’s economy, with a focus on the U.S. economy. There are uncertain reasons regarding this recent steep fall in oil prices, such as temporary and permanent shifts in oil demand and supply, such as the entrance of the United States as a leading producer in the market. We will further investigate how changes in oil prices affect a country’s GDP and its economy as a whole, considering selected economi c indicators such as nominal and real interest rates, real GDP growth rate, real wages, and final consumption. If the change in oil prices has a strong influence on the rate of inflation, there is a need to specify the actions that policy makers should consider in response to the changes. Statement of the problem/ issues The main problem is to find out whether there is a strong association between crude oil prices and other economic indicators, such as interest rates, final consumption, real GDP growth rate, and inflation rate. If there is a strong correlation between oil prices and selected macroeconomic indicators, the government should consider an intervention to protect the economy from fluctuations in oil prices and the rate of inflation.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The decline in oil prices is likely to cause a decline in export demand because of reduced i ncome from oil exporting countries. The decline in oil prices is also associated with a decline in investment in the oil gas sub-sector (Baffes at al., 2015). Reduction in investment in the sub-sector may have a small negative impact on aggregate demand. There is uncertainty on how long the low prices will last. It may prevent interest rates from dropping further when interest rates have a correlation with oil prices. If the low prices are short-lived, any intervention from the government will cause a distortion that may last longer than expected. Blinder Rudd (2008) suggest that a rise in inflation raises concern in a similar manner to disinflation. Nelson (2004) discusses that the economic policies should not react to the changes in oil prices in a similar manner it had reacted in the past oil shocks. Hypothesis There are multiple graphical presentations in existing literature that portray that inflation and oil prices follow the same trend line. This paper seeks to establish wh ether there is a strong correlation between changing oil prices and the selected macroeconomic indicators. It follows the first impression they give when one studies the graphical presentations. We state the following hypotheses to assist in finding a solution to the strength of the influence of oil price changes to the economy.Advertising We will write a custom research paper sample on Factors Affecting the Changes in Oil Price specifically for you for only $16.05 $11/page Learn More H0: There is no strong correlation between changes in oil prices and selected macroeconomic indicators. H1: There is a strong correlation between changes in oil prices and selected macroeconomic indicators. The hypotheses are derived from the perception that inflation rates respond quickly to oil supply shocks. When historical data is plotted on graphs, the trend lines indicate that key economic indicators follow the same trend as that of oil prices. However, some economic indicators tend to move in an opposite direction, such as real GDP and real interest rates. The periods of oil shocks have been followed by periods of recession. Proponents claim it is the U.S. government’s response that caused the recessions (Blinder Rudd, 2008). Opponents claim that the government’s response did not increase the intensity of the oil shocks. They blame the delayed policy in response to the oil shocks (Nelson, 2004). Policy makers can determine the level of intervention to similar oil shocks by finding the strength of the influence of changing oil prices to key economic indicators. A disproportionate application of policy may intensify the effects of oil price changes. Literature review and analysis of historical data Effects of the 1970s oil embargo and other oil shocks on the level of the GDP and employment. Oil prices are affected by the supply and demand of crude oil on the global market. In the 1970s, the supply of oil reduced when the OPEC coun tries reduced their oil production (Baffes et al., 2015). They also banned member states from selling oil to the U.S., and other countries that supported Israel in the Arab-Israel conflict.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It was labelled as OPEC I, which saw the oil prices quadruple within a short period (Blinder Rudd, 2008). OPEC II developed as a result of Iraq invading Iran in the late 1970s. At the time, the U.S. was more reliant on oil for energy than it is today. Figure 1, shown below, shows that a recession followed the periods of oil shocks. Figure 1 Data sources: World Bank (2015), BEA (2015), and EIA (2015a). Figure 1 shows that the real GDP annual growth rate and the trend of oil prices moved in opposite direction in the 1970s. According to the graph, there were recessions in 1970s, early 1980s, early 1990s, and towards 2010 (the 2008 financial crisis). The Real GDP dropped to touch the 0% growth rate line when the purchase price of oil increased. The percentage of those who were unemployed also increased side by side with the increase in oil prices (see Appendix A for tables). In the 1970s, the trend lines in the graph indicate that unemployment levels took similar turns as the trend li ne of oil prices. The graph also shows that the influence of the changes in oil prices weakened in the period that followed the mid 1990s. Annual oil consumption in the U.S. over the last four decades In the beginning of the study, we expected that the production of oil in the U.S. had increased while the consumption had declined. Figure 2 shows that the U.S. still needs to import crude oil. However, the size of oil import that needs to be imported has declined to levels that are similar to those in the mid 1970s and mid 1980s. By the end of 2013, oil production was on a steep upward trend. Figure 2 Data sources: EIA (2015b), and EIA (2015c) From Figure 2, it can be seen that oil production in 2013 rose above the level it was in the 1980s. The difference between oil production and consumption also approached zero, which indicates a reduced need to import crude oil (see Appendix A for tables). The reduced need to import reduces the demand for oil in the global oil market. It may als o result in a further strengthening of the dollar against foreign currencies, as it creates a less supply of ‘petrodollars’ to the global market. The effects of cost-push inflation and the phenomenon of stagflation arising from the oil shock of the 1970s Based on the graphs, there is a strong indication that inflation rates rose during periods of higher oil prices. Blinder Rudd (2008) discuss that the 1970s and 1980s experienced two periods of double-digit inflation rates, which were attributed to oil prices. Blinder Rudd (2008) mostly relied on trend lines to elaborate that the movement in oil shocks is similar to that derived from inflation rates. As it can be seen in Figure 3, inflation follows a similar trend to changes in oil prices. The periods with the highest inflation rate in the four decades include the 1973-1974 period and 1978-1980 period (Blinder Rudd, 2008). During the 1973-1974 period, inflation rate varied between 11.04% and 9.13%. During the 1978-198 0 period, it varied between 7.65% and 13.51% (World Bank, 2015, see Appendix A for tables). There is a strong indication that inflation rates are influenced by changes in oil prices. Inflation has never been higher than it was during the two periods over the forty-year period. Blinder Rudd (2008) link the high inflation rates in the early 1970s to the increase in food prices, oil prices, and the removal of price controls during Nixon’s administration. While higher food prices were linked to the shortage in food supply, it is visible that food prices are also affected by oil prices in the current oil supply shocks. Energy prices were the main source of inflation in the late 1970s (Blinder Rudd, 2008). Cashell Labonte (2008) explain that energy prices may affect the prices of other products because it is a key input in the production of many other products. Low inflation rate targets and low unemployment rates may be a challenging combination for policy makers (Nelson, 2004) . The 1970s’ economic condition was known as stagflation. It is a term used to describe rising inflation rates and high unemployment rates occurring at the same time. Cashell Labonte (2008) explain that the belief that policy makers had on Phillips curve made them experience a dilemma in dealing with rising inflation levels in the 1970s. The Phillips curve predicts that inflation will rise and unemployment will fall in an inverse relationship. An expansionary monetary policy increases demand, but it also stimulates inflation. The economy needs growth in demand to drive investment and economic growth. Nelson (2004) discusses that monetary policy was not viewed as an appropriate instrument to restore stability during the 1970s cost-push inflation. Cashell Labonte (2008) suggest that stagflation should not raise a lot of concern because the economy will return to its natural level of full employment, despite supply shocks. The periods of high oil prices are also known to be th e periods with the highest levels of inflation. However, in the last decade, the inflation rates appear not to respond with the same magnitude as the changes in oil prices. It may be an indication of an effective application of monetary and fiscal policies. In 2008, oil prices changed because of a decline in demand derived from the global recession. The increase in oil prices, after 2008, can be seen as a retraction of the lost upward trend. It may explain the reason for less volatility in inflation rates. In the last decade, there has been a decline in oil-intensity in energy production in the U.S. Figure 3 Data sources: BP (2015), EIA (2015a), and World Bank (2015) Figure 3 elaborates that the changes in the selected macroeconomic indicators do not match the volatility of oil price changes in magnitude. Nominal lending rates and inflation rates were more volatile to changes in the 1970s and 1980s than they have become in the last decade. The figure elaborates that real GDP growth rate reduced each time there was an increase in oil prices. It is only in 2008 that real GDP growth rate fell, despite a fall in oil prices. The growth rate of final consumption also declined in a similar manner. In the 1970s, it was expected that the reduction in employment levels would reduce the demand for oil. Reduction in demand would reduce the level of inflation (Blinder Rudd, 2008). Different views held that the rising oil prices only accounted for about a third of the inflation experienced in the U.S. (Blinder Rudd, 2008). Figure 3, shown above, may contribute to the argument because there is a big difference between the size of the percentage change in oil prices and the percentage change in key macroeconomic indicators. The main reason for the low impact in the U.S. is that local production cushioned against the effect of oil supply shocks. The price of oil increased four times in the global markets, but the refiners’ acquisition cost increased by about 100% in the U.S. (Blinder Rudd, 2008). In the future, as the economy turns to renewable energy alternatives, the effect of oil shocks may be reduced further. Some authors blamed the government for the delay in using monetary policy to reduce demand for oil (Nelson, 2004). Blinder Rudd (2008) discuss that the government should not be blamed because the inflationary pressures did not originate from its monetary policy. Historical data also shows that the supply of money almost declined during the period (Nelson, 2004). Cashell Labonte (2008) discuss a research carried out by Bernanke and other authors that indicates that policy responses may make the effects of oil shocks to have a larger impact on prices. The change in oil prices has a small impact on overall price levels when there is no intervention. The government is expected to overlook the effect of oil shocks when proposing policies. In response to Bernanke’s findings, some authors propose that it is unreasonable to withdraw economic policy when the economy is experiencing higher inflation levels (Cashell Labonte, 2008). Bernanke and his colleagues separated the effects of oil shocks on the economy using a simulated model. Opponents suggest that it is problematic to separate the effects of oil shocks from the effects of monetary policy in reality. It requires the government to respond, even when oil prices fall. One of the limitations of using a contractionary monetary policy to contain inflation is that reducing the U.S. demand will not affect the demand of other countries. However, the U.S. contributes a lot to global demand, reducing its demand would have an impact on reducing global demand. Another weakness of monetary policy is that there is a lag between application and effects, which may take time before they affect aggregate demand (Cashell Labonte, 2008). The 1978-1980 oil supply shocks lasted a shorter period. Using monetary policy, in trying to stabilize the economy, would have effects occu rring in a period they are not needed. It is more appealing to allow the short-term market shocks to be restored through the market mechanism, back to the equilibrium price. Oil prices have an impact on inflation when they are changing. Once they have adjusted and are stable, Cashell Labonte (2008) explain that it should not be of concern to policy makers. Higher oil prices have no effect on inflation, provided they are stable. Market forces will take the economy back to the natural rate of employment. The only challenge is that there are different levels of the natural rate of employment in different periods and countries. The Current Oil Prices Causes There are a number of periods in which oil prices have fallen since the 1970s. Oil prices fell in 1985, 1990, 1998, 2001, and 2008 (Baffes et al., 2015). In 2008, the fall in oil prices was associated with the fall in demand as the world economy sank into recession (McCafferty, 2015). In 1997-98, it was caused by the Asian economic crisis (Baffes et al., 2015). In all the oil shocks, the market was affected by either the supply of oil or its demand. The current sharp decline in oil prices is caused by increased supply. The other causes act through their effect on demand and supply. In the historical periods, one of the causes of the fall in oil prices has been an increase in production. In 2014, the fall in oil prices responded to a similar cause. Prior to the fall in prices, there was an increase in oil supply, followed by an accumulation of oil reserves. There has been an increase in production in the U.S. as shown in Figure 2. There has been an increase in oil supply since 2010 (McCafferty, 2015). In the global market, disruptions in supply only occurred in 2013 through the political instability in Libya and Iraq. The difference between the falling prices in 2014-2015 and other periods is that the supply has not been cut by OPEC as it has been happening in similar situations. Saudi Arabia used to play a cru cial role of reducing supply, which allows prices to stabilize. In the recent period, Saudi Arabia intends to push back firms that supply oil from high production cost rigs into cutting their supply. Baffes et al. (2015) discusses the point as a change in OPEC objectives. They have shifted from using oil prices to keep their market share to keeping their current production levels and relying on their competitiveness. Saudi Arabia holds the advantage of producing oil using one of the lowest costs in the global market. In the U.S., some drilling firms have postponed production in high production cost rigs (McCafferty, 2015). The current increase in oil supply may last a longer period than previous oil shocks because of the presence of new producing countries that want to capture a larger market share. Another reason is that the non-OPEC producers account for 58% of the global oil production, which may reduce the influence of OPEC. Baffes et al. (2015) predict that the lower oil prices will stabilize before the end of 2016. The high prices that followed the 2008 recession were one of the drivers of an increase in investment in oil production. McCafferty (2015) explains that the high oil prices made high production cost oil rigs to become economically viable. An increase in oil rigs caused the supply of oil to increase. The introduction of new technology in the U.S. for the extraction of oil and gas also increased supply in the U.S. In the 1980s, the venture into deep sea drilling and harsh climate environments caused an increase in supply in a similar manner (McCafferty, 2015). The U.S. shale oil production has been able to increase global production levels by about 1% annually since 2011. The demand for oil declined in the global market fell by about 0.8 million barrels per day while the U.S. oil supply increased by 0.9 million barrels per day (Baffes et al., 2015). It has resulted in increased supply and reduced demand. The appreciation of the U.S. dollar again st major currencies is cited as one of the contributing factors to falling oil prices. Baffes et al. (2015) explain that simulations indicate that a 10% appreciation in the USD will cut oil prices by between 3% and 10%. The impact of an appreciating USD is felt through a loss in purchasing power from countries that use the dollar to engage in international trade. Baffes et al. (2015) discuss that there was about a 10% appreciation of the USD in the last half of 2014, which may contribute to falling oil prices. A stronger dollar reduces the demand for oil in the global market through the loss of purchasing power. Effects The downward trend in oil prices may increase global economic growth in the next two years. According to the IMF, the recent fall in oil prices may result in the world economy growing by about 3.5% in 2015 and 3.7% in 2016 (McCafferty, 2015). Baffes et al. (2015) discuss that models have been used to estimate that a 30% decrease in oil prices will result in about 0.4 % to 0.9% decline in global inflation. Oil prices affect the economy through three channels, which include input costs, changes in real income, and the response of policy makers (Baffes et al., 2015). These channels directly and indirectly affect other economic indicators. In the UK, lower oil prices have been associated with a fall of inflation below targeted levels. In 2015, the inflation rate was 0.5% in January and 0.3% in February (McCafferty, 2015). Cheaper oil increases the purchasing power of workers through real wages. As the prices of other products fall, workers will be able to purchase more commodities using the same level of nominal income (McCafferty, 2015). It may increase aggregate demand, which will stimulate increased production. There are also negative effects of higher real wages. Blinder Rudd (2008) discuss that higher real wages relative to productivity will put pressure on wage rates and reduce employment demand. In the medium-term, high real wages will incre ase unemployment. In recent years, wages are considered to have absorbed most of the prices changes derived from oil shocks than it was in 1970s (Blinder Rudd, 2008). McCafferty (2015) supports the notion that lower oil prices does not translate into higher capital accumulation and higher productivity. Other factors have to be used to increase income levels. According to McCafferty (2015), there is a lack of a model that elaborates how to set interest rates in response to sharply falling oil prices. The lack of a clear level of interest rates may cause policy makers to avoid using interest rates in response to the current fall in oil prices. An inappropriate level of response may have adverse long-term effects on the economy. The study by Bernanke and co-authors gives a finding almost similar to the simulation by the Bank of England, which suggests that lower oil prices have a very small impact on the level of GDP (McCafferty, 2015). Bernanke and co-authors estimated that GDP would rise by 1.3% and inflation by 0.13% when oil prices rose by 10%, if there was no intervention from monetary policies (Cashell Labonte, 2008). The Bank of England estimated that a 10-percent fall in oil prices would increase the GDP by 0.1% in two years (McCafferty, 2015). These studies tend to indicate that the effect on oil prices on the GDP is minimal without the interference of government policies. Cashell Labonte (2008), as well as Blinder Rudd (2008), highlight the notion that the government’s effort in trying to control inflation from oil prices has been the source of recessions in the past. Previously, Figure 3 has shown that the effect of oil prices fluctuations on economic indicators was small and is becoming smaller. It shows that government intervention should be minimal in response to oil shocks. One of the reasons that the U.S. has become less sensitive to oil shocks is that the economy has become less oil-intensive than it was in the 1970s (Blinder Rudd, 20 08). The U.S. has also reduced its reliance on imported oil through the years. Figure 4, shown below, shows that the reliance on oil for energy production has reduced as a percentage of energy needs. Figure 4 Source of data: World Bank (2015) A less percentage of the U.S.’s energy consumption is derived from oil. Baffes et al. (2015) discuss that the impact of falling oil prices may have an impact of varying magnitude on different countries depending on the intensity of oil consumption in a country. In Asian countries, the fall in oil prices is weakening their currencies and causing an increase in capital outflows (Baffes et al., 2015). It is one of the ways oil shocks may affect financial markets. Policy in response The effect of the oil shocks has grown weaker in the last decade. According to Baffes et al. (2015), the effect of oil prices may end in 2016. Central banks do not need to respond to the fall in oil prices through a monetary policy because the phenomenon will be short-lived. However, in the European countries, the rate of inflation was maintained at low levels, an expansionary monetary policy may be needed to maintain inflation closer to the targeted levels. Disinflation may not be preferred. In countries such as Egypt, the lower oil prices provide countries, which usually support oil consumption through subsidies, to withdraw subsidies if it is part of their long-term goals (Baffes et al., 2015). In response to lower oil prices, the U.S. does not need to respond with a cut in the government expenditure. Methodology Explanation of theoretical model The paper starts with an examination of the literature review of the causes and effects of oil shocks to the economy. There was examination of policies in response to changes in oil prices. In line with existing literature, the paper has used graphs for analysis. The graphs were developed from historical data, which covers four decades on economic indicators. Percentages are used for most indica tors because they allow a better comparison of effects than the use of absolute values. Spearman’s rank correlation has been applied in trying to find out whether there is a strong association between oil prices and other macroeconomic indicators. One of the reasons for applying the rank correlation is that the curves are non-linear. There is the presence of outliers. Rank correlation has been used by Blinder Rudd (2008) to analyze the effects of oil shocks to the U.S. economy. Pearson product moment correlation has been used by Baffes et al. (2015) in describing the association between changes in oil prices and macroeconomic indicators. In this paper, the product moment correlation has been used to compare results from the rank correlation. Correlation is preferred because it is difficult to separate the effects of oil shocks from the effects of government policy. Baffes et al. (2015) analyze trends in oil prices using correlation and finds out that only the core inflation rate may have a negative correlation with oil prices. Inflation derived from the CPI should have a positive correlation with changes in oil prices. In line with the literature review, changes in oil prices should be used instead of oil prices to assess their impact on the economy. The results show that using absolute values in oil prices results in findings that are contradictory to existing literature. Statistical analysis In the results, the Spearman’s rank correlation indicates that there is a weak positive correlation between inflation and changes in oil prices over the forty-year period. However, the Pearson product moment correlation indicates that there is a strong relationship between changes in oil prices and the inflation rate. The results conform with existing studies that inflation responds to changes in oil prices rather than higher oil prices. Cashell Labonte (2008) and Baffes et al. (2015) suggest that once prices have stabilized, high oil prices have no impac t on inflation. Table 1 There are a few reasons for contradictory results when absolute prices are used. The reason for negative correlation is evident from the fact that the forty-year period is a long period, the highest inflation rates are in the 1970s and the highest oil prices appear after 2009. It causes the rank correlation to be negative. Another reason for the negative correlation is the nominal oil prices. Result would be different if oil prices were chained to a base year. There is an accumulative inflation rate that makes oil prices in recent years higher than in the 1970s. The result leads to the acceptance of the null hypothesis (H0) that there is no strong association between changes in oil prices and selected macroeconomic indicators. However, inflation rates show a strong positive correlation with changes in oil prices under the Pearson product moment correlation. There is a weak negative correlation between changes in oil prices and real GDP growth rate, final con sumption, and real interest rates. Changes in oil prices have a weak positive correlation with nominal lending rates. Data collection Data used in the paper was collected from government agencies’ databases and corporate databases. The World Bank (2015) database provided a large group of data, in Excel format, from which data on real GDP growth rate, nominal lending rates, real interest rates, inflation rates, and annual growth rate of final consumption was obtained. The EIA (2015a) provided data on the first purchase price of crude oil from 1970 to 2014. The EIA (2015b) and EIA (2015c) provided data on consumption and production of oil from 1980 to 2013. The BP (2015) database filled the gap by providing data for oil production and consumption from 1970 to 1979. There was a negligible difference between data provided by EIA and BP databases on oil production and consumption. The BP database worksheet also included data on oil prices, though it was not used in the analysis. P reference was given to the EIA historical data on oil prices. BEA (2015) provided data on the level of GDP. Conclusion Summary of the results There is a weak relationship between changes in oil prices and key economic indicators. The weak correlation may be explained by the reduced impact of oil shocks in the last decade. In 2008 recession, changes in oil prices and changes in key economic indicators moved in a different direction than it was expected. The effect is also reduced by the fact that the government has implemented policies that keep the nominal interest rates at a fixed lower level. It has also used an expansionary monetary policy that may overshadow the effects of increasing oil prices since 2009. Existing theories indicate that only about a third of the effect of changing oil prices may be reflected on the macroeconomic indicators. One of the limitations of the study is that it is difficult to separate the effects of changing oil prices from the effect of government po licy using historical data. They are applied simultaneously and the effects are spread across different macroeconomic indicators, which have a second-wave of effects. As a matter of fact, the correlation results only measure the extent to which macroeconomic indicators have a similar trend to changes in oil prices. Inflation rate is the macroeconomic indicator that appears to be greatly influenced by changes in oil prices. Recommendations Policy makers do not need to respond to current changes in oil prices. One of the reasons is that the falling oil prices are expected to stabilize by the end of 2016. It makes the oil shock to be considered a short-term phenomenon. Monetary policy has time lags between application and effect, which may cause an unwanted effect in the long run. The literature review indicates that government policies may intensify the effect of an oil shock. It is an opportunity to implement fiscal policies that cut expenditure on oil subsidies in countries that re lied on them. The contraction of fiscal policy should only be used when it is regarded as a long-term objective. The fall in oil prices may be followed by an increase in unemployment when there are higher real wages relative to productivity (Blinder Rudd, 2008). It may cause a decline in the demand for labor. The government can ease its monetary policy by a small margin to contain rising real wages. It should be done in a timely manner to prevent the lagging effects. References Baffes, J., Kose, A., Ohnsorge, F., Stocker, M., Chen, D., Cosic, D., Gong, X., Huidrom, R., Vashakmadze, E., Zhang, J., Zhao, T. (2015, January). Understanding the plunge in oil prices: Sources and implications. Global Economic Prospects. Retrieved from http://www.worldbank.org/content/dam/Worldbank/GEP/GEP2015a/pdfs/GEP201 5a_chapter4_report_oil.pdf BEA. (2015). National data: gross domestic product. Retrieved from www.bea.gov/national/xls/gdplev.xls Blinder, A., Rudd, J. (2008). The supply shock explan ation of the great stagflation revisited. Retrieved from http://www.princeton.edu/ceps/workingpapers/176blinder.pdf BP. (2015). BP statistical review of world energy June 2013. Retrieved from http://www.bp.com/statisticalreview Cashell, B., Labonte, M. (2008). Understanding stagflation and the risk of its recurrence. Retrieved from http://assets.opencrs.com/rpts/RL34428_20080331.pdf EIA. (2015a). Petroleum and other liquids: U.S. crude oil first purchase price (dollars per barrel). Retrieved from http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PETs=F000000__3f=A EIA. (2015b). Total petroleum consumption. Retrieved from http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=5pid=5aid=2cid=r1, syid=1980eyid=2013unit=TBPD EIA. (2015c). Total petroleum consumption. Retrieved from http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=5pid=5aid=2cid=r1, syid=1980eyid=2013unit=TBPD McCafferty, I. (2015). Oil price falls – what consequences for monetary policy? Retrieved from http://www.bankofengland.co.uk/publications/Documents/speeches/2015/speech 806.pdf Nelson, E. (2004). The great inflation of the seventies: What really happened? Retrieved from https://research.stlouisfed.org/wp/2004/2004-001.pdf World Bank. (2015). United States: World development indicators. Retrieved from http://data.worldbank.org/country/united-states This research paper on Factors Affecting the Changes in Oil Price was written and submitted by user Charity Beasley to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Gay Marriage and Decision Massachusetts Supreme Judicial Court

Gay Marriage and Decision Massachusetts Supreme Judicial Court Introduction In 2003, Massachusetts Supreme Judicial Court ruled in favour of gays and lesbians, a decision which has stirred mixed reactions from different people worldwide. The practice is spreading fast, and becoming accepted by different countries and states, among them New Hampshire, Columbia, Connecticut, Vermont, California, New York, and Oregon. Other countries though, have strongly opposed the practice, with others passing legislation against it.Advertising We will write a custom essay sample on Gay Marriage and Decision Massachusetts Supreme Judicial Court specifically for you for only $16.05 $11/page Learn More Among those who have written articles on this contentious topic are Poet Katha Pollitt, who supports it and lawyer Charles Colson who strongly opposes this kind of marriage, asserting that it does not only affect those who embrace it but all. The future though, is uncertain about the legality of this issue, which could change at any given t ime. Katha Pollitt Pollitt supports the institution of gay unions and does not think it threatens the marriage institutions in any way. She analyzes the various reasons why people get married which she lists as procreation, men domestication, and the historical justification. According to her, there are couples who only get married when pregnancy occurs, and this alone cannot pass as a justification to marriage. What of the infertile, the impotent, the elderly, or those who indulge in family planning? What of those who get married for purposes of intimacy? Are their marriages illegitimate? These scenarios negate David’s and Jean’s lines of reason, because these marriages are as well valid as are those who are in it principally for procreation (571). Pollitt argues that this is one of the dictatorial and insolent reasons of marriage the writers could give. Supported by statistical evidence, Gilder argues that women literally domesticate men, affirming that most married men exempt themselves from wrong doings such as drug abuse, crashing cars, and committing suicide (571). On the contrary, he still affirms that husbandly failures such as disloyalty, betrayal, domestic violence, and abandonment, still exist in marriages. Pollitt on the other hand views these marriages as a â€Å"barbarian adoption,† and doesn’t feel that women should undertake it, because they haven’t been thriving in it nevertheless. Either, from the same point of view, she doesn’t believe that marriage should be limited to heterosexuals; because same sex marriages do not impose on the male enhancement project in any way. From historical point of view, Pollitt points out that the institution of marriage has revolutionalized with adoption of love, legality, monogamous and voluntary based marriages, as opposed to the old times , where marriages constituted of polyandry, arranged marriages, forced marriages, and child marriages. Gay marriages stand out like a fairy tale in both scenarios.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Critics of gay marriage according to Pollitt, have little consideration for many other factors that have weakened the bond of heterosexual marriages including wobbliness, individualization, the easy of dissolution, and flexibility, among others. She argues that basically, people get married despite their difference in age, cultures, health status, and even against the doctrines of their religious beliefs; so why not give a chance to gay marriages, who accordingly can procreate- as in the case of lesbians or adopt children where gays are involved. She goes further to say that in today’s contemporary society, marriage is not based on some baseless beliefs in social and biological theories, nor is it a societal dispensation, it is, and should be based on love, commitment and stability. According to he r, for as long as marriage exists, it should not be restricted to anyone who wants it. In conclusion, the bottom line of opposition to gay marriages according to Pollitt, lies with religious chauvinism, which strongly opposes gay culture; in fact there exist a an arresting connection of religion with opposition to gay relations. This explains why so many people can put up with civil unions as opposed to religious unions. The religious faithfuls believe that gays and lesbians cannot serve God as diligently, as they have already gone against the doctrines that dictate marriage. But Pollitt argues that marriage doesn’t necessarily have to be blessed by God but rather, what a government permits; according to her, it is entirely owned by the state. Despite that people undertake big church weddings, they still have to seek marriage licences from the state. According to her, gays and lesbians should be allowed to get married despite religious opposition. She concludes by saying that â€Å"gay marriage-it’s not about sex, it’s about separation of church and state† (Pollitt 572). Charles Colson Charles Colson, in his book â€Å"gay marriage: societal suicide† counters Katha’s viewpoint to gay marriages. According to Colson â€Å"marriage is the traditional block of human society† (577). He states that one the main reasons for marriage is uniting couples and procreation, principles which gay marriage negates, the result; crime, births out of wedlock, increased family breakups, among others. To reinforce his argument, Colson says he has witnessed the shortcomings of family breakages during his thirty-year ministry in prisons. Supported by figures, Colson argues that children brought up in family knit relations, are much more likely to be involved in felonies and disastrous life, than those brought up in split families. Further, children brought up in broken homes undergo more behavioural and academic predicaments, a vice w hich Colson argues that it’s largely contributed to by consenting gay marriages. Contrary to critics who don’t believe that heterosexual marriage are weakened by gay marriages, Kurtz argues that they indeed change the culture of marriage and parenthood, a fact that Norwegians have been experienced , through shooting up out of wedlock births and increased cohabiting after their courts imposed gay marriage in 1993.Advertising We will write a custom essay sample on Gay Marriage and Decision Massachusetts Supreme Judicial Court specifically for you for only $16.05 $11/page Learn More Supported by tradition and history, Colson argues that the best environment to bring up children is within a family with both parents and that’s why according to him, same sex marriages should never be legalized. He finalizes by saying that â€Å"marriage is not a private institution designed solely for the individual gratification of its participants† ( 578). He is in full support of the â€Å"Federal Marriage Amendment,† which he says will help abate chaos and crimes (Colson 578). Conclusion Comparing the two writers Pollitt and Colson, their arguments stand valid to any reader of their work. Pollitt arguably supports same sex marriages, basing on state legislation, modernity, and freedom of humanity. Colson on the other hand, opposes the practice and devalues it in line of history, societal morals, and religion, which he is a strong believer. He insinuates that the acts of crime and chaotic life experienced in today’s world, are a result of broken homes which are largely contributed to by same sex marriages. Despite that both arguments pass, we have to agree that same sex marriage is rapidly gaining recognition in most parts of the world despite whether there is legislation in support or not. Its one of the things the world has to adapt to, because it will continue to exist. Some people even argue that, gay and lesb ians are not made, they are born. So what would legislation achieve in that case? Much as Colson asserts that most crimes result from broken homes, it’s not entirely true; there are other causes as well. In conclusion, same sex marriages will happen, either, its one of the disorders the world is experiencing, largely contributed to by individual beliefs and the modern lifestyle. Thus, the choice of what to believe in is a personal choice, which more often than not, is defined by religion and the rule of law. X. J. Kennedy, Dorothy M. Kennedy, and Jane E. Aaron. The bedford reader. 10 Edn. Thornwood: Bedford Books, 2008. Print.

Coca Cola (Coke) Report Essay Example | Topics and Well Written Essays - 1000 words

Coca Cola (Coke) Report - Essay Example Contents Contents 3 1. Introduction 4 1. Introduction Coca Cola boosts of having the highest brand equity in the world. According to surveys, one of the most recognized words in the world is â€Å"Coca Cola†. The product Coca Cola continues to dominate the carbonated drinks market despite sturdy headwinds and is well ahead of its competitor Pepsi. Considering a slow but steady move towards non-carbonated healthy drinks, the product has faced mounting pressure to boost and enhance its promotional activity across the globe in order to maintain market share which has seen a decline from 2005-2010 (Euromonitor International, 2011). This report shall investigate and describe the promotional mix and strategies that have enabled the Coca Cola brand to uplift and maintain the leadership of its carbonated Coke beverage across the globe. 2. Promotional mix From partnerships with renowned international brands to using celebrities in advertisements to keep the youth hooked, Coke has effec tively been promoted through all promotional media. In 2006, for instance, Coca Cola distributed approximately 70 million codes of songs inside Coke’s packs which were redeemable at Apple’s i-tunes store (Telecomworldwire, 2006). ... The diamonds had three shapes namely round, marquise and princess each of which corresponded to personalities attached to Vanilla Coke, Lemon Coke and Coke Light respectively (Hargrave-Silk, 2004). This was one of the most expensive promotional campaigns of its times beating its rival products such as Pepsi. This strategy also reflects how Coke’s lifestyle-oriented promotions aim at aspiring young, exuberant, contemporary men and women. The attributes of the Coke drink are reflected in its advertisements. For instance, one of the ads depicted a confident, bold and sexually appealing customer at a restaurant where Coke was sponsoring a giveaway (Hargrave-Silk, 2004). As mentioned earlier, Coca Cola has effectively used psychological marketing in its promotional mix. The company has also partnered with Parts Connection (a motor trade dealer) whereby a can of Coke is given with every purchase worth $100. The can is worth $1,000 of petrol (Motor Equipment News, 2009). At the end o f a particular period, the labelled cans can be used for drinking Coke (Motor Equipment News, 2009). This has given cash starved customers another reason to purchase spare parts from this dealer. The product has such a huge fan following that some of the company’s promotional efforts have fallen short of its customers’ expectations. As part of its regular line of promotion, the Coke brand has been running an online loyalty program for its Coke fans which has become a source of disappointment for its loyal fans. These fans claim to have collected several codes from bottle caps in return for points only to discover that few of the expensive products (against which the points are redeemable) have run out of stock