The conceptions of power and domination found in the works of Karl Marx, Max Weber and Michel Foucault

Introduction The notion of power can be looked at as a definite degree control of the individuals and others showing itself through different ways. Whether those individual notice it or not, the majority of them are subject to a variety of power types on a daily basis and are likely to recognize it as a normal occurrence.Advertising We will write a custom essay sample on The conceptions of power and domination found in the works of Karl Marx, Max Weber and Michel Foucault specifically for you for only $16.05 $11/page Learn More Throughout the history, the concept of power arose in many different approaches from many ideologies. However, the modern understanding of power has been influenced with the works of Karl Marx, Max Weber, and Michael Foucault who attempted to introduce various perceptions of what power is and how it is formed and the way it works. Karl Marx provides dominance to the macro sphere, dealing with the major socio class that own mode of production. Weber concept’s of power base in bureaucracy that empower individual, whereas, Michel Foucault highlights the need for micro theory dealing with discourse and power and knowledge (Goodwin Scimecca 2005, p. 184). Concepts of power and domination according to Karl Marx Karl Marx concept of power and domination is founded on his proposition that defines distinctions of class possessions. The state is capable of deriving power when it can guarantee provisions to address the diverse needs of the populace. According to this concept social classes exist because of possessions that eventually define and establish domination. Social classes have characteristic political power. This defines the strength possessed by these classes. These groups will use such strength to take control of their interests. This defines a facet of domination derived from possessing material things. However, the process of domination also relates to influence in an ideological sense. Generally M arx postulated that material possessions are pertinent determinants that shape and provide identity to a particular social class. This also determines the group’s culture and behavior. It is pertinent to note at this point that existing variations in possessions in terms of material determines the levels of domination although this will vary for different social groupings or classes. These variations are a typical feature within the Marxian theory that indicates that class struggles define the power and domination within this theory (Collins 1974).Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another aspect to understand in the concept of domination and power according to Karl Marx is related to labor power. Characteristically Karl Marx defines domination in which the bourgeois exploit the proletariat. In this light the most fundamental struggle against domination would involve freein g the society from exploitation by one class. This in a way explains the communist concept, where according to Marx power is transferred to the proletariat. In this view Marx formulated various stages to the so-called liberation of the proletariat. According to Karl Marx the initial step of revolution involves the proletariat gaining power. However, the struggle is not over until the proletariat in power has established his class as the ruling class thereby extorting the capital from the bourgeois. Karl Marx’s view on power and domination involved the struggle between social classes (Seidman 2008, p. 83). The ruling class would dominate the subordinate class that was typically relegated to the production sector. In this view Marx postulated that the end of such domination was the objective of the communist struggle. Marx has indicated clearly the duality to power and domination by, including materialism and intellectualism as a means of dominance (Marx, Engels McLellan 1998, p. 207; Marx 1999, p. 66). As such philosophers can dominate and control the affairs of the time. Generally Karl Marx has based his conception of power and domination on a perpetual struggle between social classes fighting for the control of ideologies and material. The primary objective of this struggle according to this conception is to promote the subordinate class to rulership. Concepts of power and domination according to Michel Foucault Foucault’s understanding of power is viewed from two points of view. One understanding denotes power as the constriction and restrain imposed by state machinery over a people. In this understanding the power holders in the state are considered the noble or elite. Alternative consideration by Foucault perceives power as a creation intended to set free people from the burdens and bondages of the society. Foucault in his second view explains that power rests on the belief on influence of human souls over the body.Advertising We will w rite a custom essay sample on The conceptions of power and domination found in the works of Karl Marx, Max Weber and Michel Foucault specifically for you for only $16.05 $11/page Learn More Based on this understanding the human soul ensures that an individual builds successful relationships with others regardless of all other factors (Foucault 1975, p. 122). Additionally Foucault disputes the common perception that people have dominance inclinations over others further disputing the inequity prevalent in relationships. Based on this understanding Foucault suggests that power is practiced rather than owned. A distinction that can be drawn from Foucault and Marx conceptions relates to the perception of power itself. According to Foucault power is viewed as an unclear concept (Gutting 1994, p. 78). However, from Marx’s view power is defined and wielded by a social class. In addition Foucault suggests that power is dependent on relationships indicating th at everyone at some time is empowered. However, the traditional view differs from this concept by Foucault instead proposing that power is held by a dominant social class. Further distinction is drawn from Foucault’s understanding of domination that according to him is the result of a particular act rather than a defined role by an authority. Basing on such understanding empowerment ideologies like feminism has gained currently from this postulation. However, the feminist movement may not be a universally accepted phenomenon because of the diversity in the women class from different countries. As such what empowerment in the west is may not be exactly as what is in China or India. Accordingly Foucault does not propose a clear definition of power as indicated by other theorists like Karl Marx. Foucault indeed proposes that power can be employed by different people during different times and dependent on particular situation (Foucault 1988, p. 34). Therefore, the distinction dr awn from Foucault’s understanding of power with other theorists relates to this explanation that power holders within a society are not specific, but the process is circumstantial. This view is radically contradictory to those views that currently define societal power, including the Marxism theory.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More The divergent from other theories is further amplified by the notion that power is not constrained and does not restrict, and that the aspect of domination is not identifiable within this conception by Foucault on power and domination (Thorpe n.d). Concepts of power and domination according to Max Weber Max Weber’s concept of power proposes it as something vague that cannot be easily categorized. Accordingly power from Weber’s point of view involves man’s realization of his own will in the society albeit meeting resistance from that particular society. Weber suggests that power can be typically identified and is sourced from different sources and value for its own sake. Generally Weber indicates that power is determined by social honor that comes with prestige. Additionally power drawn from a legal order is feasible under this conception although the legal order is not considered the primary source. Max Weber considered money power as unethical and unjustifiable . On the issue of domination Weber underscores that this is an indication of some degree of voluntary submission by the subject of power based on some genuinely vested interests (Bodley 2002, p. 67). However, exceptions would be with modern world cases like the Hitler domination that was generally intended to propagate Germany domination of the world. Thus domination and obedience can only be viewed dependently for the former to be considered legitimate. This is based on the understanding that obedience shows acceptance to the content of a command. Weber further postulated that authority can be categorized into three areas (Rhienstein 1954; Weber 1978; Weber 1958; Weber 2001, p. 117). Legally owned authority relates to power with the officialdom of the day. The orders or commands propagated here are obeyed by virtue of one being the office bearer. Such is the power held by different governmental systems of the day whether presidential or parliamentary. The other category of authorit y defined by Weber is the legitimate authority (Gerth Mills 1946, p. 217). This is founded on conventionally accepted structures that propagate a belief of the legitimacy of a system and those within the system. Such is the case with monarchies and thus Queen Elizabeth II has authority defined by traditions that have remained for a long time and are held in loyalty by her. Power can also come from compelling authority where such person exercise dominance based on his or her exceptional qualities. From Weber’s point of view domination is thus maintained through perpetual governance that promotes obedience to the power holders by the public or society. A typical resultant feature of such an arrangement is bureaucracy that continually propagates domination (Goodsell 1994, p.190). Thus Weber postulates that governments uphold control through bureaucracy prevalent in subsidiary instruments of governance like the army and police force used to enforce state order (Hummel 1998, p. 3 07; Merton 1952; Wilson 1989, p. 77). Comparing the power and domination theories When looking at Karl Marx, Michel Foucault, and Max Weber theories on power and domination, it is visibly true that these theories show variations in their ideology, understanding, and practicability. The theories by these three are considered as the most influential politically in modern time. However, they also continue to draws much debate. Max Weber and Karl Marx postulations have gained increased acceptance in comparison to Foucault’s theories. Perhaps an area currently benefiting from Foucault’s theories that are inclined toward societal and moral wellbeing are activist groups that continue to agitate for individual rights. Such include the gender and gay activist groups. Therefore, it can be inferred that Foucault theories have gained wider acceptance in the western world where levels of activisms are on the rise. According to Karl Marx power and domination are founded on the econo mic arrangements of the day. Predominantly the industrial and agricultural arrangement gives forth two distinct social classes the bourgeois and the proletariat. Domination can be explained from a social class perspective. From this theory the origins of power are clearly linked to its creation through labor as a cost of production giving forth the relationship between work and power. Karl Marx’s views propelled the Soviet Union to world superpower base on the enthronement of the proletariat class. However, the demise of the union in the 1990s was because of the failure by the Marxists to uphold his beliefs that maintained that means of production must be hurriedly enhanced. Whereas Foucault and Marx share conception on the view of power as held and exercised by the elite class in the society the distinction arises from the empowerment and disempowerment source where Marx relates it to economic differentiation whereas Foucault bases it on political and state arrangements. The refore, Foucault assumes that everyone has power relative to the role they are playing within society. Therefore, there are no universal rights that are class specific as postulated by Marx rather domination is circumstantial and not absolute. Weber’s understanding of power and domination significantly diverges from that of Foucault and Marx. In his theory Weber indicates that power is a political happening that results from social honor and prestige and not economic strength as proposed by Marx. With instruments of authority in place domination is attained through command and obedience typical of the bureaucratic arrangements in many governments today. Conclusion The former Soviet Union is a classical model of how the three theories of power and domination apply. The union was a product of Marxist revolution with Russian proletariats wresting power from the Czarist bourgeois of that time. In the 1990s Foucault’s postulations on individualism account for the eventual d isintegration of the union into independent states (Foucault 1994, p. 136). Finally each of these states is established on Max Weber’s propositions that indicate bureaucratic state machinery that governs each of the states. Reference List Bodley, JH 2002, The power of scale: A global history approach, M.E. Sharpe, Armonk. Collins, R 1974, Conflict sociology, Academic Press, New York. Foucault, M 1975, Discipline and punish: the birth of the prison, Random House, New York. Foucault, M 1988, Madness and civilization: A history of insanity in the age of reason, Vintage, London. Foucault, M 1994, The order of things: archaeology of human sciences, Vintage. London. Gerth, H Mills, G 1946, From Max Weber: Essays in sociology, Oxford University Press, New York. Goodsell, C 1994, The Case for bureaucracy, Chatham House Publishers Inc., New Jersey. Goodwin, G Scimecca, J 2005, Classical sociological theory: Rediscovering the promise of sociology, Wadsworth Publishing, Belmont. Gutti ng, G (ed.) 1994, The Cambridge companion to Foucault, Cambridge University Press, Cambridge. Hummel, R 1998, ‘Bureaucracy’, The International Encyclopedia of Public Policy and Administration, p. 307. Marx, K 1999, Das capital, Gateway, New York. Marx, K, Engels, F McLellan, D 1998, The communist manifesto, Oxford University Press, New York. Merton, R 1952, Bureaucratic Structure and Personality in Reader in Bureaucracy, Free Press, New York. Rhienstein, M 1954, Max Weber on Law in Economy and Society, Simon and Shuster, New York. Seidman, S 2008, Contested knowledge: Social theory today, Wiley, New York. Thorpe J n.d., An analysis and comparison of Michel Foucault’s and Marx’s theory of power relations. Web. Weber, M 1958, From Max Weber: Essays in Sociology, Oxford University Press, New York. Weber, M 1978, The protestant ethic and the spirit of capitalism, University of California Press, California Weber, M 2001, Economy and society: An outline of inte rpretive sociology, 2nd edn, Routledge, New York. Wilson, JQ 1989, Bureaucracy: What government agencies do and why they do it, Basic Books Boulder. This essay on The conceptions of power and domination found in the works of Karl Marx, Max Weber and Michel Foucault was written and submitted by user Jorge Winters 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.

Take This Career Advice from Bill Gates in Order to be Successful

Take This Career Advice from Bill Gates in Order to be Successful Bill Gates is an emperor. He’s built one of the most powerful companies in the global economy, donated billions to charity, and revolutionized the way humans interact with technology. He is the richest man in the world, with a net worth of $79.2 billion, and has focused for the past 16 years since stepping down as CEO of Microsoft on his foundation and philanthropy. He is the most successful college dropout on the planet, and is constantly focused on the future of the human race. Through his observation of how a successful business runs and his involvement in global humanitarian causes, he has realized that there are a few things that will serve any newcomer to the workforce well in the near and distant future.Be aware of emerging fields.Bone up on your science, engineering, and economics. He calls workers in those fields the future â€Å"agents of change for all institutions† and recommends beefing up knowledge of the sciences, mathematics, and economics to be prepared to enter- or at least interact with- these three fields. You don’t have to run out and learn how to code, but you should probably be able to understand what coders do.Be optimistic.Gates said in a commencement address to Stanford University that â€Å"Optimism is often dismissed as false hope. But there is also false hopelessness.† So persevere.Be wary of success.According to Gates, it is a â€Å"lousy teacher† who â€Å"seduces smart people into thinking they can’t lose.†Be a fighter for the greater good.Gates is an activist and would inspire you to be one too. In a 2011 speech to the National Urban League, he said, â€Å"Every human being has equal worth. Everyone deserves to live a healthy and productive life. Success shouldn’t depend on the race or income of your parents.†Think the problems of the world are too daunting? Too bad. In a Harvard University commencement address, he told graduates, â€Å"Don’t let complexity s top you. Be activists. Take on the big inequities. It will be one of the great experiences of your lives.†He is a firm believer that if you simply make people aware of a problem, and give them a way to stop it, they will pitch in and â€Å"be moved to act.†Be open-minded.Way back in 1994, Gates told Playboy magazine that this was crucial. â€Å"Somebody could do it differently and still do it well. You can’t have this bias that they need to do things the same way.†So go ahead and strike out in the direction of your dreams. But listen to your Uncle Bill. He’s pretty smart.

Answers to Questions on Multicultural Organizations

Answers to Questions on Multicultural Organizations Explain briefly the meaning of organizational culture and ethnic culture and also explain the main difference between those cultures. Provide suitable examples to support your explanation. Culture refers to the following Ways of Life, including but not limited to: Language: The firstborn human establishment and the easier medium of expression. Arts & Sciences: most advanced and refined forms of human expression. Thought: ways in which people perceive, interpret, and understand the world around them. Spirituality: importance of organization transmitted through generations for the inner well-being of human beings, expressed through language and actions. Social activity: shared recreations within a cultural community, demonstrated in a variety of festivities and life-celebrating events. Interaction: social features of human contact, including the give-and-take of socialization, negotiation, protocol, and conventions. Reference (http://www.roshan-institute.org/templates/System/details.a sp?id=39783&PID=474552) Organization culture is build on the value, beliefs and behavioral norms of organizations it is includes values, beliefs dress code, language, way of personality, rules and regulation, policy and the way they work together. For Example: Imagine and spend one full week inside any one organization – from Monday to Friday – and on Friday at 5:00 PM , conclude the most part such as, the eye catching decision-making style, team-based decision-making, process of sharing information, communication, using symbols, individual responsibility, equal opportunities, etc. these all the process and activity based on so many issues. Generally, this function is the part of organisation and role definition. Situation that the thoughts, meanings, beliefs and values people learn as members of society determines human nature. Persons what they are learned. The Optimistic cultural determinism places no limits on the abilities of human beings to perform their task tow ards the organisational goal and/or objective. Ethnic culture: A characteristic of a people, esp. a group (ethnic group) sharing a common and distinctive culture, religion, language, or the origin, classification, racial, characteristics, etc., Being a portion of an ethnic group, esp. of a group that is a minority within a larger society: for example: ethnic Chinese in New Zealand. Designate or of an inhabitants subgroup having a common cultural heritage or nationality, as distinguished by customs, characteristics, language, common history, etc. Ethnic culture has own group in the organisation for achieving the organisational goal trough the sharing ideas and performing as a team player but for that they should understand the different culture , respect other values, beliefs, tradition, dress code and skills and experiences. For Example: Culture exists everywhere, at various levels of society, and everyone belongs to at least one, at the supranational level (Western and Eastern civi lizations), at the national level (American, French, Japanese), at the ethnic level (Chinese and Maori in New Zealand, WASPS, Blacks and Hispanics in the USA), and so on. Culture can also be applied to other social units such as occupational group (lawyers, accountants, and physicians), corporations (IBM, CALTAX, McDonald) and even tourism sectors (restaurants, hotels, airlines). Question 2:- Select a leadership example from a culture other than your own and: (a):-Explain how cultural perceptions may influence the leadership style and behavior of the individual or organization selected. Give suitable and relevant examples to support your arguments.

Economic Trends in an Executive MBA school Essay

Economic Trends in an Executive MBA school - Essay Example The recession would create an impact on employment and many capable firms would have a well of skills to hire from. Some firms might decide to be choosy and a graduate degree might just prove to be relevant so as to keep up with the competition for jobs. This has seen many people go for MBA which stands a better chance than having BBA only. (Kotler, Philip & Kevin, 2012)   One of the other areas affected by the recession are the accounts receivable. The customers of the companies might not fail to make payment the money owed to the company at the right time, or they may never be able to pay. This turns into a violation of the credit agreement. Moreover, delinquent or late payment reduces the valuation of corporation’s debt, bonds and its ability for financial access. This means that firms would be rendered incapable to sustain its operational costs and might just close down. Many people would lose their jobs. In the preparation of such circumstances, higher level of expertis e would deem inevitable to keep the firm running. Proper financial management measures could be employed to sustain the firm in the industry. All these expertise can be acquired by advanced training and education.  The need for increased household income has grown higher with people resorting to venturing into two or even three jobs. This requires an extended level of expertise in the different fields. The loan programs give an opportunity for people to go back for an MBA and upgrade their certificates so that they can be able to fit.... The customers of the companies might not fail to make payment the money owed to the company at the right time, or they may never be able to pay. This turns into a violation of the credit agreement. Moreover, delinquent or late payment reduces the valuation of corporation’s debt, bonds and its ability for financial access. This means that firms would be rendered incapable to sustain its operational costs and might just close down. Many people would lose their jobs. In the preparation of such circumstances, higher level of expertise would deem inevitable to keep the firm running. Proper financial management measures could be employed to sustain the firm in the industry. All these expertise can be acquired by advanced training and education. The need for increased household income has grown higher with people resorting to venturing into two or even three jobs. This requires an extended level of expertise in the different fields. The loan programs give an opportunity for people to go back for an MBA and upgrade their certificates so that they can be able to fit at the competition of the search for white collar jobs. Some universities like the University of New Mexico offers scholarships for MBA students. In Germany, education is free of charge therefore one can have no reason not to take an MBA. The loan program has attracted a lot of people to undertake further studies as its an incentive. The federal government plays a vital role in helping its employees live a stable life. As a result of the economic fluctuations in the private sector, the populace decide to search for white collar jobs to be able to earn a stable income. The government would also engage in the act of increasing

Explain Vince Rizzo's search for identity in the movie City Island Essay

Explain Vince Rizzo's search for identity in the movie City Island - Essay Example This paper will shed light upon Vince’s search for identity in the movie; light will also be thrown upon how he fathered a child in his teenage, who comes back in his life and how things progress from there. Vince is a native of the island, he is uncomfortable with people who come to stay there and bring about unwanted changes, and the opening scene of his voiceover presents the same very comprehensively. Vince is not comfortable with his job, he is a prison guard, and his ambition of becoming an actor is perhaps the most important thing in the movie. He lies to his wife and moves to Manhattan to pursue a career as an actor. There are a lot of misunderstandings in the movie, Vince’s wife thinks that her husband is after some mistress who he has been pursuing for quite some time, Vince’s ambition and several misunderstandings make this movie very intriguing. Vince has several problems which he is completely unaware of, his daughter strips at a club in order to pay her school fees; he meets his step son who he fathered out of wedlock. Vince’s son is addicted to porn on internet and wants to fulfill his fantasies with a girl residing in the neighborhood; these are some of the many problems which Vince was facing. The introduction of Tony, Vince’s step-son brings a huge twist in the movie.

Innovation and creativity evaluation of Apple Corporation Essay Example for Free

Innovation and creativity evaluation of Apple Corporation Essay Economic growth and development of any country depends upon a well-knit financial system. Financial system comprises, a set of sub-systems of financial institutions financial markets, financial instruments and services which help in the formation of capital. Thus a financial system provides a mechanism by which savings are transformed into investments and it can be said that financial system play an significant role in economic growth of the country by mobilizing surplus funds and utilizing them effectively for productive purpose. The financial system is characterized by the presence of integrated, organized and regulated financial markets, and institutions that meet the short term and long term financial needs of both the household and corporate sector. Both financial markets and financial institutions play an important role in the financial system by rendering various financial services to the community. They operate in close combination with each other. Financial System The word system, in the term financial system, implies a set of complex and closely connected or interlined institutions, agents, practices, markets, transactions, claims, and liabilities in the economy. The financial system is concerned about money, credit and finance-the three terms are intimately related yet are somewhat different from each other. Indian financial system consists of financial market, financial instruments and financial intermediation Role/ Functions of Financial System: A financial system performs the following functions: * It serves as a link between savers and investors. It helps in utilizing the mobilized savings of scattered savers in more efficient and effective manner. It channelises flow of saving into productive investment. * It assists in the selection of the projects to be financed and also reviews the performance of such projects periodically. * It provides payment mechanism for exchange of goods and services. * It provides a mechanism for the transfer of resources across geographic boundaries. It provides a   mechanism for managing and controlling the risk involved in mobilizing savings and allocating credit. * It promotes the process of capital formation by bringing together the supply of saving and the demand for investible funds. * It helps in lowering the cost of transaction and increase returns. Reduce cost motives people to save more. * It provides you detailed information to the operators/ players in the market such as individuals, business houses, Governments etc. Components/ Constituents of Indian Financial system: The following are the four main components of Indian Financial system 1. Financial institutions 2. Financial Markets 3. Financial Instruments/Assets/Securities 4. Financial Services. Financial institutions: Financial institutions are the intermediaries who facilitates smooth functioning of the financial system by making investors and borrowers meet. They mobilize savings of the surplus units and allocate them in productive activities promising a better rate of return. Financial institutions also provide services to entities seeking advises on various issues ranging from restructuring to diversification plans. They provide whole range of services to the entities who want to raise funds from the markets elsewhere. Financial institutions act as financial intermediaries because they act as middlemen between savers and borrowers. Were these financial institutions may be of Banking or Non-Banking institutions. Financial Markets: Finance is a prerequisite for modern business and financial institutions play a vital role in economic system. Its through financial markets the financial system of an economy works. The main functions of financial markets are. To facilitate creation and allocation of credit and liquidity; 2. to serve as intermediaries for mobilization of savings; 3. to assist process of balanced economic growth; 4. to provide financial convenience Financial Instruments Another important constituent of financial system is financial instruments. They represent a claim against the future income and wealth of others. It will be a claim against a person or an institutions, for the payment of the some of the money at a specified future date. Financial Services: Efficiency of emerging financial system largely depends upon the quality and variety of financial services provided by financial intermediaries. The term financial services can be defined as activites, benefits and satisfaction connected with sale of money, that offers to users and customers, financial related value. Pre-reforms Phase Until the early 1990s, the role of the financial system in India was primarily restricted to the function of channeling resources from the surplus to deficit sectors. Whereas the financial system performed this role reasonably well, its operations came to be marked by some serious deficiencies over the years. The banking sector suffered from lack of competition, low capital base, low Productivity and high intermediation cost. After the nationalization of large banks in 1969 and 1980, the Government-owned banks dominated the banking sector. The role of technology was minimal and the quality of service was not given adequate importance. Banks also did not follow proper risk management systems and the prudential standards were weak. All these resulted in poor asset quality and low profitability. Among non-banking financial intermediaries, development finance institutions (DFIs) operated in an over-protected environment with most of the funding coming from assured sources at concessional terms. In the insurance sector, there was little competition. The mutual fund industry also suffered from lack of competition and was dominated for long by one institution, viz. , the Unit Trust of India. Non-banking financial companies (NBFCs) grew rapidly, but there was no regulation of their asset side. Financial markets were characterized by control over pricing of financial assets, barriers to entry, high transaction costs and restrictions on movement of funds/participants between the market segments. This apart from inhibiting the development of the markets also affected their efficiency. Financial Sector Reforms in India It was in this backdrop that wide-ranging financial sector reforms in India were introduced as an integral part of the economic reforms initiated in the early 1990s with a view to improving the macroeconomic performance of the economy. The reforms in the financial sector focused on creating efficient and stable financial institutions and markets. The approach to financial sector reforms in India was one of gradual and non-disruptive progress through a consultative process. The Reserve Bank has been consistently working towards setting an enabling regulatory framework with prompt and effective supervision, development of technological and institutional infrastructure, as well as changing the interface with the market participants through a consultative process. Persistent efforts have been made towards adoption of international benchmarks as appropriate to Indian conditions. While certain changes in the legal infrastructure are yet to be effected, the developments so far have brought the Indian financial system closer to global standards. The reform of the interest regime constitutes an integral part of the financial sector reform. With the onset of financial sector reforms, the interest rate regime has been largely deregulated with a view towards better price discovery and efficient resource allocation. Initially, steps were taken to develop the domestic money market and freeing of the money market rates. The interest rates offered on Government securities were progressively raised so that the Government borrowing could be carried out at market-related rates. In respect of banks, a major effort was undertaken to simplify the administered structure of interest rates. Banks now have sufficient flexibility to decide their deposit and lending rate structures and manage their assets and liabilities accordingly. At present, apart from savings account and NRE deposit on the deposit side and export credit and small loans on the lending side, all other interest rates are deregulated. Indian banking system operated for a long time with high reserve requirements both in the form of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). This was a consequence of the high fiscal deficit and a high degree of monetisation of fiscal deficit. The efforts in the recent period have been to lower both the CRR and SLR. The statutory minimum of 25 per cent for SLR has already been reached, and while the Reserve Bank continues to pursue its medium-term objective of reducing the CRR to the statutory minimum level of 3. 0 per cent, the CRR of SCBs is currently placed at 5. 0 per cent of NDTL. As part of the reforms programme, due attention has been given to diversification of ownership leading to greater market accountability and improved efficiency. Initially, there was infusion of capital by the Government in public sector banks, which was followed by expanding the capital base with equity participation by the private investors. This was followed by a reduction in the Government shareholding in public sector banks to 51 per cent. Consequently, the share of the public sector banks in the aggregate assets of the banking sector has come down from 90 per cent in 1991 to around 75 per cent in2004. With a view to enhancing efficiency and productivity through competition, guidelines were laid down for establishment of new banks in the private sector and the foreign banks have been allowed more liberal entry. Since 1993, twelve new private sector banks have been set up. As a major step towards enhancing competition in the banking sector, foreign direct investment in the private sector banks is now allowed up to 74 per cent, subject to conformity with the guidelines issued from time to time. Conclusion: The Indian financial system has undergone structural transformation over the past decade. The financial sector has acquired strength, efficiency and stability by the combined effect of competition, regulatory measures, and policy environment. While competition, consolidation and convergence have been recognized as the key drivers of the banking sector in the coming years

Good Science :: Science Argumentative Persuasive Essays

Good Science Science has helped to improve the lives of people around the world. Today, science has improved human health and medicine to help people live longer, and help people live with diseases people had little hope of living with a few decades ago, such as AIDS. While our scientific advances continue, ethical questions arise about how science should advance, such as stem cell research. Mary Shelley, author of the novel Frankenstein, and Michael Bishop, who wrote the article Enemies of Promise, have different views about how scientific knowledge affects humanity. Mary Shelley was born the daughter of feminist Mary Wollstonecraft and political theorist William Godwin. While on vacation with her husband, she began to write the novel Frankenstein, about a scientist who created life. The scientists name was Victor Frankenstein. In a selection from the novel, Frankenstein says The dissecting room and the slaughter-house furnished many of my materials; and often did my human nature turn with loath ing from my occupation, whilst, still urged on by eagerness which perpetually increased, I brought my work near to a conclusion (232). Frankenstein is disgusted because he must go to a slaughter-house to get parts for his creation. Frankensteins disgust shows how horrible and demoralizing his scientific endeavors are, and he continues his experiment despite the negative affect his experiment has on his health. He realizes the study to which you apply yourself has a tendency to weaken your affections, and to destroy your taste for those simple pleasure in which no alloy can possibly mix, then that study is certainly unlawful, that is to say, not befitting the human mind (233). Frankenstein worked so hard to give life to his creation he thought of nothing else, and he was living his whole life to accomplish one goal. He realizes how much time he has been spending on his experiment and the effect his work is having on him, so he believes humans do not have the ability to deal with work in this manner. Therefore, scientific experimentation is not worth the negative effects the experiments have on the human mind. Eventua lly, Frankenstein accomplishes his goal, but his creation does not turn out like he expected. After giving his creation life, Frankenstein is horrified and leaves his home. Frankenstein concludes Learn from me, if not by my precepts, at least by my example, how dangerous is the acquirement of knowledge, and how much happier that man is who believes his native town to be the world, than he who aspires to be greater than his nature will allow (231).

Challenges we face today Essay

Challenges we face today in the 21st century are youths not preparing for a productive adult hood. Many youth don’t make it in life because they don’t have a post – secondary education. Obama had a speech saying â€Å"tonight I ask every American to commit to at least one year or more of higher education or career training† because nowadays most job required a post – secondary education. Jobs are getting advance and the need for skilled professional are in demand but young adults don’t fulfilled the expectation. United State education system is falling behind, youth aren’t finding employment. No one wants to hire someone who isn’t ready for the task. Post – secondary education is you’re ID to get hired in any field you choose to be. All the reports, all the reasons we still have failed to take action. Getting a post – secondary education should be a primary task. In the workforce today it’s important to have a higher education because if you don’t you won’t have a chance against the person next to you. By having a little more higher education then the next person can earn you more money and live a better lifestyle. If money concerns you, then you need a post-secondary education because future jobs required post- secondary education. The demand for higher education is continuing to increase. Even if jobs are available they are filled by people with post- secondary education. Even blue collar field type of jobs required some post-secondary education. Employers complain that youth are not prepared because they don’t have communication skills, critical thinking, and not being professional. It is important to have both hard and soft skills. Since the labor market is so tough it’s hard to complete without a post – secondary education. Since teens are unable to find jobs they are getting into trouble with the law and most of them are low incomes or minority. Right now the percent of working young adults are at its lowest point. Where ever you go education will always play an important role in your life. Post high school training is necessary to help increase the employment rate. Post- secondary education will help United State move forward.

Brick & Click Essay

A brick means a retail store, and a click means an e-commerce website. The main choice when a new company is starting out is whether to have a brick or a click to get their company going. There are several advantages and disadvantages to choosing either a brick or a click. One advantage of having a brick store to begin with is that when a new company starts people may be wary about completing a transaction online with the company as they do not know if it is trustworthy or not when giving out card details and PayPal account details and similar things. Therefore, by beginning with a brick store people can deal with others face to face and complete the transaction straight away. There is less chance of losing money or having card details stolen if you are using them yourself, rather than relying on someone or something else. If you have a problem, it is very easy and simple to deal with it in a brick store where it may be difficult to get in contact with those on a click e-commerce website as you would need to either write a letter, use the telephone, send an e-mail or file a complaint online on the actual website and you may not get a response. In a brick store you can simply go into the shop and deal with it there and do it face to face with an employee of the company. Another advantage of a brick store is that if there is a problem with the product you can also simply return it to the store and get a change of item or your money back, online this may be a problem as it will cost for postage and packing, it will also take much longer as well. One of the main advantages of starting with a brick store is the possibility of hackers that could put off consumers from purchasing items online. This therefore means that some people prefer to do their shopping in person in a retail store where they can see what is happening. Another advantage is that you can put your hands on a product and test it, to  see if the customer likes the product. On a click store all you can do is look at an image with other details such as size and colour. You can for example try on clothes in store however you have to rely on a size being the same as similar clothing items that you own. However, there are also a variety of advantages to beginning with a click store. A main one is how much cheaper it is to simply open a website in comparison to a retails store. The company will not need to employ anywhere as near as the amount of people that would be employed in a retail store, as well as paying bills for the building and lighting and whatever else. All that is needed online is to make the website, maintain it and update it if necessary and then people working in a warehouse to send out the products to the customers. Another advantage is the convenience of a click store. This means that people can use it anytime of the day and the company don’t need anyone on the website to complete a transaction or anything like that. This means that products can be purchased and ordered at any time that you want to browse the internet. There is no opening and closing times to a click store. From an e-commerce store you can check to see if a product is in stock on one website and then if not just simply browse round all the other similar websites without leaving your home and find a website that has the product in stock and purchase it. You can go to other brick stores if the product you wanted was not in one store, but it would take much longer and there is also much more companies online than there will be in the same town or city. It is much easier to find a product online and you can simply use a search bar to enter keywords for what you are looking for and then browse all the results that it brings up. This will bring up hopefully what you were looking for as well as similar items which you may then prefer that you would not have known about if you had just walked into a shop and bought the product. You can also pay all bills and whatever is owed from your own home online which is much easier and simpler.

Battle of White Plains in the American Revolution

Battle of White Plains in the American Revolution The Battle of White Plains was fought October 28, 1776, during the American Revolution (1775-1783). Part of the New York Campaign, the battle came about after British forces landed at Pells Point, NY and threatened to cut off the American line of retreat from Manhattan. Departing the island, the Continental Army established a position at White Plains where it was attacked on October 28. After sharp fighting, the British captured a key hill that compelled the Americans to withdraw. The retreat from White Plains saw General George Washingtons men move across New Jersey before crossing the Delaware River into Pennsylvania. Background In the wake of their defeat at the Battle of Long Island (August 27-30, 1776) and victory at the Battle of Harlem Heights (September 16), General George Washingtons Continental Army found itself camped at the northern end of Manhattan. Moving tentatively, General William Howe elected to begin a campaign of maneuver rather than directly attacking the American position. Embarking 4,000 men on October 12, Howe moved them through Hells Gate and landed at Throgs Neck. Here their advance inland was blocked by swamps and a group of Pennsylvania riflemen led by Colonel Edward Hand. General Sir William Howe. Public Domain Not wishing to force his way through, Howe re-embarked and moved up the coast to Pells Point. Marching inland, they won a sharp engagement over a small Continental force at Eastchester, before pressing on to New Rochelle. Alerted to Howes movements, Washington realized that Howe was in a position to cut his lines of retreat. Deciding to abandon Manhattan, he began moving the main army north to White Plains where he possessed a supply depot. Due to pressure from Congress, he left around 2,800 men under Colonel Robert Magaw to defend Fort Washington on Manhattan. Across the river, Major General Nathanael Greene held Fort Lee with 3,500 men. Battle of White Plains Conflict: American Revolution (1775-1783)Dates: October 28, 1776Armies and Commanders:AmericansGeneral George Washington13,000 menBritishGeneral William Howe14,500 menCasualties:Americans: 28 killed, 126 woundedBritish: 42 killed, 182 wounded The Armies Clash Marching into White Plains on October 22, Washington established a defensive line between the Bronx and Croton Rivers, near the village. Building breastworks, Washingtons right was anchored on Purdy Hill and led by Major General Israel Putnam, while the left was commanded by Brigadier General William Heath and anchored on Hatfield Hill. Washington personally commanded the center. Across the Bronx River, in line with the American right rose Chattertons Hill. Possessing wooded sides and fields on the hilltop, Chattertons Hill was initially protected by a mixed force of militia. Reinforced at New Rochelle, Howe began moving north with around 14,000 men. Advancing in two columns, they passed through Scarsdale early on October 28, and approached Washingtons position at White Plains. As the British neared, Washington dispatched Brigadier General Joseph Spencers 2nd Connecticut Regiment to delay the British on the plain between Scarsdale and Chattertons Hill.  Arriving on the field, Howe immediately recognized the importance of the hill and decided to make it the focus of his attack.  Deploying his army, Howe detached 4,000 men, led by Colonel Johann Ralls Hessians to make the assault. A Gallant Stand Advancing, Ralls men came under fire from Spencers troops which had taken a position behind a stone wall. Inflicting losses on the enemy, they were forced to pull back towards Chattertons Hill when a British column led by General Henry Clinton threatened their left flank.  Recognizing the importance of the hill, Washington ordered Colonel John Haslets 1st Delaware Regiment to reinforce the militia.   As British intentions became clearer, he also dispatched Brigadier General Alexander McDougalls brigade. The Hessian pursuit of Spencers men was stopped on the slopes of the hill by determined fire from Haslets men and the militia. Bringing the hill under intense artillery fire from 20 guns, the British were able to panic the militia leading them to flee from the area. General George Washington. Public Domain The American position was quickly stabilized as McDougalls men arrived on the scene and new line formed with the Continentals on the left and center and the rallied militia on the right. Crossing the Bronx River under the protection of their guns, the British and Hessians pressed on towards Chattertons Hill. While the British attacked directly up the hill, the Hessians moved to envelop the American right flank. Though the British were repulsed, the Hessians flank attack caused the New York and Massachusetts militia to flee. This exposed the flank of Haslets Delaware Continentals. Reforming, the Continental troops were able to beat back several Hessian attacks but were ultimately overwhelmed and forced retreat back to the main American lines. Aftermath With the loss of Chattertons Hill, Washington concluded that his position was untenable and elected to retreat to the north. While Howe had won a victory, he was unable to immediately follow up his success due to heavy rains the next day few days. When the British advanced on November 1, they found the American lines empty. While a British victory, the Battle of White Plains cost them 42 killed and 182 wounded as opposed to only 28 killed and 126 wounded for the Americans. While Washingtons army began a long retreat which would ultimately see them move north then west across New Jersey, Howe broke off his pursuit and turned south to capture Forts Washington and Lee on November 16 and 20 respectively.  Having completed the conquest of the New York City area,  Howe ordered Lieutenant General Lord Charles Cornwallis to pursue Washington across northern New Jersey.  Continuing their retreat, the disintegrating American army finally crossed the Delaware in to Pennsylvania in early December. American fortunes would not improve until December 26, when Washington launched a daring attack against Ralls Hessian forces in Trenton, NJ.

Whats Complicating Bernankes Balancing Act Essay

Whats Complicating Bernankes Balancing Act - Essay Example products, but more about the market forces that are determined by overseas. The interdependency can be observed from the increasing trade volume between U.S. and Asia, which has doubled in 10 years. The complication increases the chances that the Fed could make a policy mistake by pushing rates too high or leaving them too low. It could cost the economy deadly if an error is to be corrected later on. (Cooper, 2006) Large countries, like the U.S., used to alter their monetary policies according to the situation of themselves. For example, in the past, the U.S. could keep her inflation rate under control easily and effectively through adjusting the interest rate to a right level. However, in the world of globalization, as the world economies are becoming more interdependent, as supported by the increasing trading volume in the passage, the level of interest rate would also affect the trade deficit issues between the U.S. and other countries as foreign capital is in need to finance the trade deficit.

Does the Problem of Evil Provide a Defeater for the Existence of God Essay

Does the Problem of Evil Provide a Defeater for the Existence of God - Essay Example One of the major functions of religious belief has been to give human beings a structure and a set of codes to help them minimize their exposure to this evil, by concentrating on God and keeping themselves pure and well away from temptations and sins. This paper traces some of the main arguments that have been used throughout history to explain the problem of evil and concludes that it can never be fully explained due to the difference between human and divine ability to understand things. In the simplest terms there is a basic contradiction in the fact that both God and evil exist. We can accept that it is not possible to know where God came from, since he is eternal, having existed always, existing now, and going on to exist for ever into the future. But what about evil? It seems unlikely that a God who is absolutely good would actually create evil. Similarly, if he came across evil arising out of what he created, then it seems logical that a God who is good would eliminate evil from the world, or would prevent it from occurring in the first place. How can a good God stand by and watch terrible injustices, suffering of innocents, or indeed be the cause of these evils? This is a big moral and logical problem which has been tacked from several different angles. From an atheist perspective the answer is quite straightforward: the absence of intervention to stop evil from happening proves that there is no such thing as an absolutely powerful and absolutely good God, as defined in the Judaeo Christian tradition. One solution to the apparent contradiction between the existence of evil and the existence of God, is to argue that God and evil are two separate and different things, and that evil is in some mysterious way the â€Å"opposite† of God. This line of reasoning preserves the absolute goodness of God, and means he is not contaminated by the bad things that happen in the world. From this position it can be argued that that evil is a necessary thing because without it, we would not be able to understand the goodness of God. An analogy from the physical world would be the relationship between light and darkness. It is possible to conceive of absolute light, and absolute darkness, but in these two extreme situations we would be blind, and not able to appreciate anything in the middle of them properly. This is quite a promising line of argument, because it places the problem in the limited, physical nature of man, rather than the realm of logic or ideas. The physical world, unlike the world of pure ideas, is not an absolute situation, and it exists between the extremes of good and evil, in such a way that they set up a contrast, allowing us to operate in the grey area in the middle, an by implication make choices to orient ourselves towards the one or the other extreme. In the history of Christianity this kind of thinking was put forward as a suggestion but quickly condemned, and it is since known as the â€Å"Manichean heresy.† The problem with this line of argument is that it waters down the essential nature of the divine being, in order to explain away the problem of evil. This solution also implies either that evil was co-existent with God from the beginning, so that good and evil define the nature of G od, or that God in some way relinquished some of his omnipotence when he created the earth, and allowed evil to take on existence