The Definition of Literature :: Definition Essays

The Definition of Literature   Ã‚  Ã‚  Ã‚  Ã‚  Literature has many meanings but to me when I hear the word literature I think of large tomes of words and stories that have become classics over time however this is only one definition of literature. Literature comes from that Latin word littera, that directly translated means letter, thus supporting the idea that literature is written. This view however leaves out the idea that there can be oral literature as well from which many of our stories and books come from.   Ã‚  Ã‚  Ã‚  Ã‚  The main form of literature, the book, has had a great impact upon the formation of our society today. Before the 1940’s TV had not come into being yet and there was not much else to do other than read books. Thus books formed my grandparents and to some extent my parents and, although I grew up in the generation of TV, books as literature have indirectly formed me as well. There also can be forms of artistic literature such as poetry or play writing. These also play an important part in literature, I believe, such as Robert frost’s poems or the works of Shakespeare the playwright. These are great authors, whose literature is not in the form of a great story or a moving novel, but in irregular works that have stayed with us for a long time many years. I believe that one very good definition of literature is that literature must have certain qualities such as plot, characters, tone, symbols, conflict, point of view, and many other elements working together in a dynamic relationship to produce a literary work. This pretty much defines the way that most people see literature today. This allows for oral traditional stories as well as for the irregular forms of writing such as plays and poems that can also have plot, characters, tone and the other elements mentioned so that they can be deemed a literary work.

History of Football Essay

The history of football is interesting as well as exciting, from the first forms of the game ever played, to the multi million dollar organizations of today. The game continues to evolve and change with the times. Football is a sport that evolved from many different games. Football is mainly known as a different form of rugby or soccer, but there is more to the origin of the game than just those two sports. Football games were played around the world before the game was actually called football. † Football is believed to have descended from a Greek game called Harpaston † (Source C). The rules in Harpaston were not very strict. Running, kicking, or passing the ball across the goal line could earn points. † It is believed that the Chinese played some form of soccer around 500 A. D† (Source M). The earliest soccer games in England consisted of people running around on a field kicking a skull. This skull kicking game continued until someone had the idea to use an inflated cow bladder, which allowed for the ball to be kicked greater distances and was much easier on the foot of the participants. In the twelfth century, the king of England outlawed the game of â€Å"futeball† because it took away from the English tradition of archery. The game was considered illegal for four hundred years. Once it was allowed to resume, it was called soccer. Another ancestor of football is the Irish game of Gaelic rugby. This game basically consisted of teams trying to advance the ball across the goal line, much like Greek Harpaston. Once the game made it across the Atlantic to America it started to take on characteristics of the game we now call football today. When football crossed the Atlantic Ocean and came to America it would undergo a major change. There were many different forms of the game in America, Princeton University students played a game called ? Ballown’ in the 1920s, which was the earliest attempt at modern football. Harvard University students would always play a football-like game on the first Monday of the new school year, it became known as ? Bloody Monday’. â€Å"But, the first official game took place on November 9th 1869 between Princeton University and Rutgers University. Both teams had twenty-five players, which led to mass confusion and chaos, also the goal posts were only twenty-five yards  apart, causing a very small field† (Source J). It was obvious that the sport needed some new rules and Mr. Walter Camp was the man to develop them. Walter Camp was a star player and later a coach at his alma mater, Yale University. Walter Camp contributed to the definition of modern-day football more than anyone; he helped change the game from its form of rugby style to the modern game it is today. † Walter Camp is known as the father of American football† (Source J). As the game grew in popularity more people began playing it, but the game was considered too brutal. † Before 1905 many injuries and eighteen deaths had been reported from the brutal mass plays, President Roosevelt asked the schools to set rules to save the game from extinction† (Source C). In response to the Presidents plea, representatives from several different schools got together to set some rules, which would forever change the game. â€Å"The schools decided that a touchdown should be worth more, so in 1898 it was changed from four to five points, and eventually changed from five to six. While on the other hand the field goal was dropped from five points to four, and then down to three† (Source I). Another problem with the game is that it was very boring. To help end this boredom Walter Camp came up with the idea of first downs. With this rule, teams must gain ten yards in four attempts or the ball is turned over. To help protect players’ safety, formations like the flying V and wedge were made illegal. Probably the most important rule change was the legalization of the forward pass. To accommodate for this new rule, colleges also created an end zone ten yards deep to allow the ball to be caught in safely. The first professional games took place between athletic clubs. The first player to play for money was William W. â€Å"Pudge† Heffelinger. â€Å"Heffelinger played at Yale University where he made the Walter Camp All American team for three straight years. Heffelinger was paid five hundred dollars to play a game for the Allegheny Athletic Association of Pittsburgh. Heffelinger is known as the first professional football player† (Source H). The first professional to sign a contract was Grant Dilbert who signed with the Pittsburgh Athletic Club. Soon after this, many teams started paying money for the best players. â€Å"On September 17 1920 representatives met to form the American Professional Football Association (APFA)† (Source H). In 1922 the APFA was renamed the National Football League (NFL). During this time, any town that could fund the money was forming a football team, even two Philadelphia baseball teams established professional football teams. During this time, professional football was not as popular as college football. Due to betting and recruiting scandals, Americans were not as interested in the NFL as they were in the collegiate games. The league reached an all time low in 1932 when it had a membership of eight teams. However, over time the formation of legendary teams like the Decatur Staleys, later renamed the Chicago Bears, and the small town Green Bay Packers, and also due to the emergence of heroic players, this new league would win over the hearts of American football fans. One of the first famous football players was Jim Thorpe. Thorpe, an Indian born in Oklahoma, would become a great college player, as well as a great professional player. â€Å"Jim Thorpe signed his first professional contract with the Canton Bulldogs at a price of two hundred fifty a game† (Source H). Although he is considered one of the great players it is believed that Jim did not play his hardest all the time, he played hard only when he wanted to. He also used shoulder pads with a layer of sheet metal under them, so he could hit opposing players even harder. Jim was not just a great football player he was an Olympian as well, winning several medals in the Olympics. Harold â€Å"Red† Grange was a legendary college player nicknamed, ? The Galloping Ghost’. Red helped college fans appreciate the professional game, he signed his first professional contract ten days after his college career had ended. â€Å"Red Grange made his professional debut on Thanksgiving day before a crowd of over 10,000 fans, before his arrival in professional football the crowds were usually measured in the hundreds†(Source H). Sammy Baugh and Otto Graham reinvented the passing game of football. They were considered the first gunslingers of football. All of these players helped revolutionize the game. Growing in popularity, the game of football was about to take some huge  steps. â€Å"In 1932 the first indoor game was played due to weather, the game was played on an eighty yard field† (Source J). During the Great Depression the NFL thrived, giving Americans something to take their minds off of the hard times. During World War II younger players enlisted so older players were drafted into the league. After the war, the popularity of the NFL grew. â€Å"In 1939 the National Broadcasting Corporation was the first station to televise an NFL game between the Brooklyn Dodgers, and the Philadelphia Eagles† (Source F). In 1951 a game between the St. Louis Rams and the Cleveland Browns was the first to be broadcast from coast to coast. As the professional game grew in popularity it expanded as well. More teams were added while others were dropped. In 1946 when football was very popular in the United States, the American Football League (AFL) was formed. The AFL and NFL would later combine to form what is now known as today’s National Football League. Many people argued about which league was stronger, the American League or the National Football League. Many people believed the NFL was stronger, and others thought the AFL was more powerful. To find out which conference was stronger the first Super Bowl was staged. â€Å"In 1967 the first Super Bowl featured the NFL’s Green Bay Packers playing against the AFL’s Kansas City Chiefs† (Source F). The game was dominated by the Green Bay Packers, making them the first Super Bowl champions. The start of the Super Bowls would later lead to the merger of the NFL and the AFL to form the current consolidated National Football League. Since the first collegiate game between Princeton and Rutgers, football has changed in very many different ways. â€Å"Of the thirteen teams in the league in 1920 only the Chicago Bears and St. Louis Cardinals, now the Arizona Cardinals, remain. There have been many classic and memorable moments in professional football history, like Chuck Bednarik’s ferocious hit on Frank Gifford, as seen on the cover of this report, John Elway’s leadership of the Denver Broncos on â€Å"The Drive†, the 1972 Miami Dolphins undefeated season, and Joe Montana’s victory-clinching pass to Dwight Clark, which is simply known as â€Å"The Catch†. The game of football has a rich history. It has evolved in many different ways but continues to hold onto the tradition and basic format it was built upon. The game will continue to grow and change with the times but will always be known as America’s greatest game. Source A: â€Å"A Brief History of The Game† www. hornetfootball. org/documents/football-history. htm Source B: â€Å"American Football History† wiwi. essortment. com/americanfootball_rwff. htm 2002 Pagewire Source C: Buckley James. America’s Greatest Game. New York. Hyperian Books For Children. 1998. Source D: â€Å"Football History-Just What Sport are We Talking About Anyway? † www. sportsknowhow. com/football/history/football-history. shtml. 2004 A Website of Internet Marketing Unlimited Source E: â€Å"History of Football† http://inventors/about/com/ad/fstartinventions/a/historyfootball/htm. 2007 New York Times Company Source F: â€Å"History of The Sport† www. usafootball. com/about-us/history-of-the-sport/. 2006 USA Football Source G: â€Å"History† www. profootballhoffestival. com/festival/history/asp 2005 Pro Football Hall of Fame Festival Source H: LaBlanc, L. Michael. Professional Sports Teams Histories. Detroit, MI: Gale Research Inc. 1994 Source I: â€Å"NFL History† www. NFL. com/history. 2007 NFL Enterprises LLC Source J: Riffenburgh, Beau. The Official History of Pro Football. New York: Crescent Books, 1990 Source K: â€Å"Rules And Information†. www. football. com/rulesabc/origins. shtml#begin. 2003 Football. com Source L: The First Fifty Years: New York: Simon & Schuster Inc. 1969. Source M: Tuttle, Dennis. The Composite Guide to Football. Philadelphia. Chelsea House Publishers Source N: Wallace, Bill. Nelson’s Encyclopedia of Pro Football. New York: William N. Wallace 1969.

Child Labor Essay - 2348 Words

Child Labor When child labor is examined, individuals and societies feel moral and emotional tugs. The Freudian super ego is appalled that, especially in the modern world, there would be such a preposterous issue. The Freudian id would rationalize numerous reasons, even justifications, of why child labor exists and would be necessary. Every corner of the earth has known this conflict to one degree or another. In the United States, the conflict is activated or denied with the purchase of an expensive sneaker. The child who is exploited on the other side of the world rarely receives a nod of concern for the slavery he endures. Countless items are similarly purchased with similar child working conditions. The children of†¦show more content†¦Child labor is not necessary if the income from adults is high enough to provide a reasonable standard of living. Almost without exception adult labor is a substitution for child labor. Child labor is often justified by an attitude tha t says the children are developing good habits that will make them constantly employable as adults. Without education, the child often has no other alternative than to enter the work force while still a minor. As a handicapped, probably illiterate child, he will be sentenced to a lifetime of poverty. Access to education becomes increasingly remote. Over 125 million children are without formal schooling. One comparison points out that the cost of educating these children would be 10 billion dollars, a sizeable sum except when recognizing that this is the cost of four days of global military spending. For child labor conditions to improve, strong workers’ rights codes are necessary. Early studies emphasize this point by pointing out that child labor problems extend beyond long hours and poor pay and include highly abusive, sometimes criminal practices. Intentionally distorting and concealing where and when the children are working can further violate child labor rights. With multiple layers of production and outsourcing, it is hard to identify the degree and amount of work that is child labor. What amounted to slave labor in the 19th century was the condition that was prominent especially inShow MoreRelatedThe Nature Of Child Labor1626 Words   |  7 Pagesthat â€Å"Globally there are 168 million child laborers, over half of which, 85 million, are in hazardous work conditions† (ILO). Child labor is not a new phenomenon by any means; it has been going on for years and has become a social issue. This paper aims to portray the nature of child labor in India. It l ooks at the definition of child labor, the prevalence, and factors that lead children to work. Definition Often time people assume that the meaning of child labor is clear-cut. However, there is littleRead MoreChild Labor1885 Words   |  8 Pagesâ€Å"Child labor† By Elie Bou Chaaya ENL 110 Section â€Å"D† Miss Zeina Fayyad 18, January, 2008 Outline: Thesis statement: Child labor nowadays is considered to be a social injustice due to its harmful effects on the personal and psychological life of the child where the kinds of work offered to the child increases the amount of these effects regarding the solutions. I. Harmful personal and physical effects of child labor A. Low pay B. Very long work hours C. Forbids childrenRead MoreThe Dilemma Of Childhood And Child Labor837 Words   |  4 PagesChildren in Need The dilemma of childhood and child labor are constantly being argued in overseas and domestic sociological literature. Anthropologists and Sociologists through the time have observed the history and the impact of social institutions on child labor. Professionals researching in the field of sociology of economics and labor by examining the incentive and value orientations of children and teenagers in the labor force, their principles and working conditions, and their outlook towardsRead MoreThe Issue Of Child Labor1196 Words   |  5 PagesThe issue of child labor has drawn significant attention since early 1990s as many labor union and special interest groups advocate banning import of goods produced by the child labor in developing countries and the international consensus in the form of Convention on the Right of the Child (CRC) which is widely ratified in 1989 by countries (Boyden, Ling and Myers, 1998). However, concern regarding child labor is not new and can be dated back to industrial revolution, especially late eighteenthRead MoreChild Labor And The United States2768 Words   |  12 Pages When one hears the term â€Å"Child Labor†, an image of children making low quality clothing in some dingy third world sweatshop inevitably comes to mind. While this imagery is unfortunately founded in fact, the third world is not the only area complicit with this heinous practice. Truthfully, we, as a nation are also guilty of propagating this heinous practice. For over a century, this nation’s youth were subjugated to exploitation and abuse at the hands of captains of industry in the hopes of extractingRead MoreChild Labor Industrialization Essay1537 Words   |  7 Pagesthat they should be protected. However, those people believed in a child s capacity to change the world in the future. While people in the past saw children as a way to change the world while they were children. In the late seventeenth century, industrialization arose in Englan d ushering in a new era of industry in our world. More industry means more workers, including children. With the rise of industrialization in a nation, child laborers are viciously abused due to their niche roles in productionRead MoreThe Effects Of Child Slavery And Child Labor On Chocolate Plantation1617 Words   |  7 PagesChild slavery and child labor on chocolate plantations is one of the world’s greatest concerns at the moment. Chocolate plantations are specifically mentioned because chocolate is such a large industry and many kids, particularly in tropical African countries, are affected by child labor. In Cà ´te d’Ivoire alone, around 15,000 children are slaves working on chocolate, or cacao, plantations. (american.edu) This problem is concerning because not only is it unethical, but child labor and, thereforeRead MoreChild Labor766 Words   |  4 PagesThe History of Child Labor In AmericaTopic: The History Of Child LaborQuestion: In what ways was child l abor cruel to children?Thesis: Child labor in America has been very cruel and unfair to children as their jobs were not paid a decent amount of money, were working under terrible conditions, and they led to diseases. Starting in about the 1700s, hand labor was replaced by power driven machines to make jobs easier.1 The industrial revolution had begun, and families needed a job and money to be ableRead MoreChinas High Dependence On Child Labor1677 Words   |  7 PagesChild labor is a commonplace in China. Most of the children in China, families work income is dependent on their family’s survival. Child labor is a major issue throughout the global economy, especially in developing countries like China. Although, China has anti-child labor laws, many children in China are forced to work against their will. China is the home of many poor families and some of these families force their children to work because of their struggle with poverty and their lack of incomeRead MoreTakin g a Look at Child Labor1957 Words   |  8 PagesThe term ‘child labor is used for employment below a certain age, which is considered illegal by law and customs. Children are the greatest gift to humanity and Childhood is an important and impressionable stage of human development as it holds the potential to the future development of any society. A young child has yet to develop a substantial set of life experiences to allow for mature choices and decisions. Children depend on the support of adults to get them through life to ensure an adequate

The Slavery Of The New World - 971 Words

For slaves the transition to the New World was at times isolating and difficult. There were rotten, terrifying, and sometimes inhumane experiences that the slaves’ experienced as they transitioned to the New World. Slaves dealt with loneliness when their families were separated because they were sold or because of situations where the owners were controlling their lives. Before becoming a slave African Americans were first kidnapped from their homes. The kidnapping process was fast. There was hardly any chance given to scream or fight back against the kidnapper. Those that were kidnapped journey was â€Å"to travel, sometimes by land, sometimes by water, through different countries and various nations† (Pearsons, 2011, 149). The slaves transatlantic voyage was called the â€Å"middle passage† (Berkin, Cherny, Gormly, Miller, 2013, 82). This middle passage was â€Å"a nightmare of death, disease, suicide, and sometimes mutiny† (Berkin, Cherny, Gormly , Miller, 2013, 82). The waters near West Africa were known as the â€Å"white man’s grave† because so many white officers and crews of the slave ships died because of diseases and were tossed overboard (Berkin, Cherny, Gormly, Miller, 2013, 82). While the death toll of the crew was great in numbers. The deaths of the black slaves aboard was far greater. These slave ships were hotbeds for many diseases such as â€Å"scurvy, yellow fever, malaria, dysentery, small pox, measles and typhus† (Berkin, Cherny, Gormly, Miller, 2013, 83). TheShow MoreRelatedSlavery And The New World947 Words   |  4 PagesSlaves transition to the New World was at times isolating and difficult. As they transitioned to the New World they experienced terrifying and sometimes inhumane treatment. Slaves dealt with loneliness when their families were separated because they were sold or because of situations where the owners were controlling their lives. Before becoming a slave African Americans were first kidnapped from their homes. The kidnapping process was fast. There was hardly any chance given to scream or fightRead MoreThe Establishment Of New World Slavery1848 Words   |  8 Pagesof this new world slavery began with an important agricultural discovery in the British colony of Jamestown. It was here that John Rolfe discovered that the Caribbean tobacco seed yielded a unique tasting smoke which lead to the first cash crop of the new world and their first opportunity to strike it rich. This discovery however did not come without its share of problems, the main one being the lack of workers to clear the land and tend the fields. This shortage of workers lead to a new form ofRead MoreAfrican American Slavery And The New World Essay1453 Words   |  6 PagesIn a world not fully discovered tou can only imagine the amount of cruelty that played a part in the claiming of In a world not fully discover you can only imagine the amo unt of protein that played a part in claiming of new lands, people, ideas, and products. 5 major empires that helped build the Atlantic world were the british,french,spanish, portugese and the dutch. With may of these empires at their peek or trying to reach it there was alot of labor that needed to take place. Most of the laborRead More Legitimating Conquest and Slavery in the New World Essay1479 Words   |  6 PagesAtlantic Ocean to Asia. This 1492 voyage turned out to be a discovery of another continent, America. Columbus thought that he had reached East Indies, but was in fact, in the Caribbean. The native people that inhabited the island were curious to see these new visitors and came out to greet them. The natives or ?Indians? as Columbus called them were friendly and generous people, giving gifts to the European travelers. Soon after the arrival, the Europeans started to take over and take what they pleased. AsRead MoreAfrican Slavery And The New World s Demographic Profile 1014 Words   |  5 Pagesventuring proprietors or joint-stock companies. Yet, whatever the reason for coming, whatever the type of colony, when English settlers arrived they encountered native populations and Spanish and French settlements. Significantly, African slavery altered the New World s demographic profile in the early 1600s. Interacting cultures within distinct geographic settings and economic circumstances resulted in unique histories for early colonies such as Roanoke, Jamestown, Plymouth and South Carolina. SouthRead MoreSlavery Around the World Essay1589 Words   |  7 Pageslearned about slavery in many parts of the world. I have learned some new things about slavery that I had never been taught before. Slavery has been a major stab wound to the heart of the world ever since it first existed. Slavery has caused years of turmoil and depression to large ethnic groups of people who have done nothing to deserve what came to them. The sad part about the whole slavery sit uation is that, it was never completely abolished from the world. Maybe on paper slavery may have beenRead MoreAfrican Americans and Cotton Fields1233 Words   |  5 PagesWhen we think about slavery we perceive it to be African Americans working on a cotton field, but where did that perception come from and where did slavery begin in North America? Slavery has been one of the longest standing legal systems used throughout history. History shows that the first settlers in North America, both the Vikings and Native Americans, were the first cultures to practice slavery in the area. Slavery continued through early modern history, aiding in the discovery of North AmericaRead MoreThe Economic And Racial Aspects Of Slavery1235 Words   |  5 Pages The Economic and Racial Aspects of Slavery Leo Kirkpatrick Baird US History I Mrs. Clark November 9, 2015 Slavery has stood the test of time; slaves were used in Mesopotamia even before they were conquered by the First Persian Empire in 539 BCE. In the Roman Empire slaves were about 10% of the total population of the Empire. The need for labor in the New World caused about 10.7 million Africans to be shipped over to become slaves. The mass usage of slaves from the 2nd millennia BCERead MoreEquiano s Journey Of A Slave1522 Words   |  7 Pagesin Africa and the New World in regards to slavery his view is not as simple as a one sided condemnation. Equiano, one moment was free and the next was being kidnapped and taken into this world where he felt he did not belong. Slavery is something that now is thought about in hate and disgust, but was the â€Å"it thing† back in the 1800s. Equiano started his slave life in Africa, however the difference between his experiences throughout Africa and his experiences through the New World are completely differentRead MoreThe Sex Trade: Slavery and Prostitution Essay1387 Words   |  6 PagesIndividuals around the world are faced with inhumane treatments and conditions daily. â€Å"Traffickers use force, fraud or coercion, including techniques such as containment, beatings, rape, confiscation of documents, debt bondage, false owners of employment, and threats of harm† in order to maintain control over their slaves (Potocky, 2010). Sex trade is a global problem presently and will increase throughout the world if nothing is done to prevent and eliminate it. Sex slavery is a type of prostitution

Political Corruption Essay - 1203 Words

Political Corruption - Political corruption is one of the biggest problems in the United States government, but not just here in America, in other parts of the world as well. This global issue is making big headlines and it is all over the internet, yet people still don’t fully believe that U.S. politicians are corrupt. The people that are making all of the â€Å"under the table† deals have got the American people blinded with false promises. The national debt is growing and we, the people, are blaming the President, illegal immigration, and big companies importing goods but the people that are to blame are representing us right now. Corruption is defined as moral perversion or the perversion of integrity. (Dictionary.com) This†¦show more content†¦It turns out the man had serious medical conditions and no health insurance. He robbed a bank to get free health care in prison. (â€Å"Corruption In America†) Lies are becoming an everyday part of the busine ss world. JP Morgan marketed a CDO as a good investment when they knew it was total garbage. The SEC announced that JP Morgan has agreed to pay out 153 million dollars in settle charges related to the sale of a controversial collateralized debt obligation back in 2007. The people that helped pick out the underlying assets for the CDO also bet heavily that it would fail. (†Corruption In America†) A poll in Time magazine stated that 29% of people do not believe in the American Dream anymore. Maybe that is because we no longer have faith in the govt. This could be a cause of the lies they feed to us. $38.5 billion in budget cuts are largely illusory. The Washington Post reported, â€Å"The Congressional Budget Office is saying that about $800 million in cuts are being made to domestic programs and foreign aid.† (â€Å"Corrupted!†) The U.S. government is spending over $2 million a minute. With the National Debt rising, the unemployment line growing, and cuts to things like health care and public housing, where is all this money going? Law enforcement agencies are considered key agents in peace-building and post-conflict reconstruction efforts. For that reason, massive resources from the international community haveShow MoreRelatedThe Lack Of The Political Corruption1807 Words   |  8 Pagesone of the largest negative consequences of the political corruption was t he laziness that was displayed officials. To the understanding of the officials, once they were in power, there was no real need to do anything or make any changes. This could potentially stem from the idea that they did not really have any true ideas on how to fix any of the problems that the local populations were concerned about. Many of these men seemed to lack real political experience but decided to run for office becauseRead MoreEssay on Political Corruption2339 Words   |  10 PagesPolitical corruption is a serious problem limiting development in emerging economies. Many scholars have identified corruption as the new enemy of democratization, blaming it for limiting political and socio-economic development of most developing nations (Bardhan P.,1997; Seligson M., 2002, Canache D. and Allison M., 2005). Although no one can really measure â€Å"corruption† due to its discrete nature and the different discourses defining it, citizen’s perception of corruption can give us an idea ofRead MoreThe Issue Of Political Corruption1791 Words   |  8 PagesThe issue of political corruption is as persistent as it is prevalent; that is to say, it exists ambiguously, politically, and in undefined terms. Generally, political corruption is understood to mean a breach of the public trust in the course of a politician’s duties (Huigens 2010). In any democracy that is truly ‘for the people by the people,’ it should be easy to weed out the corrupt politicians. That said, the corruption of any one politician does not always translate to a different electionRead MorePolitical Corruption and Empowerment1889 Words   |  8 Pageslives but should be given the opportunity where possible. Empowerment Empowerment is an initiated process that enables the masses to gain power and extend it in such a way that they can use this power to share in changing social, economic and political structures. Empowerment is successful if the participants regard the result of their action as beneficial. Therefore participation is a cornerstone of empowerment. It is a prerequisite for achieving empowerment. Empowerment is one of the consequencesRead MorePolitical Corruption And Its Effect On Society Essay1667 Words   |  7 Pages Corruption is one disease that seems to be everywhere. Different nations of the world experience corruption in different ways, areas and levels. Although there are different ways corruption affect nations, one fact that most people can agree on is that most often corruption tends to destroy a country rather than build it. I stand corrected but every country is corrupted in one way or the other because there’s no one clear way of defining corruption. Using the Merriam Webster definitionRead MoreCorporate Influence And Political Corruption1383 Words   |  6 PagesIn today’s society many Americans believe that there is corruption within politics. According to Jeffrey Milyo author of Corporate Influence and Political Corrupti on, a nationally representative opinion survey done in 2008 states that, â€Å"a little more than 50 percent of respondents agreed that corruption in the federal government is widespread and an extremely serious concern, while fewer than five percent considered corruption in the federal government to be rare or not a concern† (Konisky, MilyoRead More Political Corruption in Bangladesh Essay3158 Words   |  13 PagesPolitical Corruption in Bangladesh In this paper I will explain how corruption in Bangladesh works, shedding light on a practice that has long kept most people wondering about who is on whose payroll and who owes whom for what. In order to do this without confusing anyone first I will explain a little about the country of Bangladesh. Next I will define corruption and explain the forms it takes, as well as why certain individuals choose to practice corruption. Finally the paper will obviously talkRead MorePolitical Corruption1391 Words   |  6 Pagescollectively decided to crack down on corruption? Is this crack-down a permanent change or just a temporary phase? a. Over a decade, Corruption has become a serious threat for every nation as it directly impacts the country’s economy thereby its overall growth at all levels. b. Corruption is considered to be a global disease which has already spread across the universe in a drastic manner and no country can be proud to say that they are corruption free. But in the recent era, many countriesRead MoreThe Ultimate Political Corruption Of William Tweed1166 Words   |  5 PagesThe Ultimate Political Corruption of William Tweed In the history of the United States there were a vast amount of political leaders and big businesses that contributed to the success of cities in our country.Greed and the need for power can consume someone and make them feel like they are unstoppable,but little do people know the judgement day is right around the corner.William Boss Tweed is a prime example of what the need for power and greed will do to a person.William Tweed played a huge roleRead MoreEssay Political Corruption in the United States2518 Words   |  11 Pagesâ€Å"Corruption, improper and usually unlawful conduct intended to secure a benefit for oneself or another its forms include bribery, extortion, and the misuse of inside information. It exists where there is community indifference or a lack of enforcement policies.†(Encyclopedia Britannica). Today political Corruption in all forms exists in every country in the world. In some countries it is more prominent then in others, but no matter where you go it still occurs. Recently in mid 2013 some political

Macroeconomic Indicators on Stock Market â€Myassignmenthelp.Com

Question: What Is The Impact Of Macroeconomic Factors On The Stock Market? Answer: Introducation For investors entering the stock market, assessing the financial statements of companies is not enough. There are several other macroeconomic factors that also influence the prices of stocks. These factors affect the stock market mainly via different channels and hitting on the supply and demand chains. Some of these factors include inflation, GDP growth rate, demographic changes or also monetary policies of the central bank of countries. Just like all other goods and services the theory of demand and supply also applies for stock markets. As we know, according to the theory of demand, , a fall in demand of a particular good shall decrease its price whereas an increase in demand shall increase it price (Lipsey et al., 2011). Similarly, when the supply of a good increase, its price falls whereas, a decrease in supply would increase its price. In the stock market, the same law applies. When demand for stocks increase, its price increases and vice versa whereas when supply of stocks fall its price increases and vice versa. As we see below, in the first diagram we see the shift in demand cause, which raises/lowers the price level of stocks. In the second diagram, shifts in the supply curve result in rise or fall in price. Thus in reality when a company lands up with low earnings the demand for their stock may go down which changes the equilibrium between buyers and sellers. This causes the future buyers to demand for a discount in stock price and hence, many sellers are motivated to accommodate. As more sellers exceed the number of buyers, price falls. The factors which affect the equilibrium of demand and supply are many among different macroeconomic factors. We shall discuss further about each of such factors. Demographic trends or transition also turn out to be a factor which can have major impact on stock markets. In the 21st century, one of the major demographic phenomenons is population aging. This aging of the population is occurring as due to high life expectancy and low fertility rates, the proportion of the population aged 65 and above is continuously increasing. The major proportion of the working age population which is moving towards retirement constituted of the percentage investing the most on stock markets. As these persons retire, the overall demand for stocks will fall and cause changes in the equilibrium. The consequences of demographic transition is still under research and studied by several analysts and economists. Many researchers also reported that population aging will not have significant effects on the financial markets (Bakshi et al., 2000). Gross domestic product which is the total amount of final goods and services produced in an economy may also affect the stock market, but its effects are still debatable among economists. GDP or GDP growth rate is also a measure of a countrys economic performance (Samuelson et al, 2000). Theoretically it is expected that a country which is healthy and growing, hence, with higher GDP is expected to cause higher demands in the stock market and also higher supplies, and with better stock market returns. At such situations when the country is growing companies or businesses also enjoy higher earnings and profits which attract more investors. On the other hand, lower GDP values may also have a negative impact on the stock market considering the aggregate demand of the economy falls. This theory is based on the fact that GDP is the aggregate of consumption, investments, government consumption and net exports. Thus any acceleration in these factors shall also have a positive impact on corpo rate sales. Higher earnings of corporate will lead to a higher earnings per share (EPS) which will translate into higher market returns (Levine et al, 2000). Though theory says this, reality is seen to be different in the short run at least. For instance if we consider the 2008 Financial crisis, we saw the stock market returns fell by 40 to 60% but that was not translated into a fall in GDP by 50%. But the theory is more justified in the longer run, where we see that many companies like United States have seen a rising trend in the stock market returns since 50 years or so which was because the country also saw higher levels of GDP and rising economic growth over the same period. The relationship between growth rates and stock markets are still found to ambiguous and still researched upon. Inflation is another factor which also has its effects on stock markets. It is the rate at which prices of goods and services rise over a period. Hence, higher rates of inflation are linked with higher costs of producing goods and services and in such a situation the company faces a cost constraint where it has to produce less and also lay off workers. At these situations, investors also perceive companies to hold back on spending which gives a negative outlook to investors and also the demand for the stocks fall. Thus, with higher costs there is also a fall in revenue, resulting inflation to have adverse effects on the stock market. When the economy faces the threat of an escalating inflation, the central bank of the country tries to control it through interest rates. It raises interest rates and expects investors to allocate their cash in fixed income instruments and hence, driving away excess liquidity from the system. Less liquidity in the system implies less speculative demand for goods and services which shall slow down the rise in prices. The rise in interest rates shall attract investors because of higher risk free return which is bearish for the stock market, as it reduces demand and hence reduces stock prices. It also happens that when higher inflation is expected, the uncertainty tends to increase the risk premium leading to higher expected returns from the stock markets (Feldstein, 2000). The opposite of inflation is deflation when prices fall. It may be thought that deflation may not be a problem for stock markets, but what happens is the opposite. Deflation acts as an indicator representing a weak economy and hence, drives away investors from investing in stocks. It implies companies earning smaller amount of profits, leading them t shrink as it lays off workers, reduces employee wages, cut on production costs or may even close production facilities. The prices of equity fall as people sell off investments which do not offer good returns anymore. As we saw above, in times of high inflation or deflation, the central bank steps forward and use various monetary or fiscal instruments to siphon off liquidity from the system. At these situations the central bank opts for various monetary and fiscal policies which may be expansionary or contractionary in nature. Expansionary policies of the central bank are when it injects money into the system whereas the opposite holds for contractionary policy. Fiscal expansionary policy leads to expansion of aggregate demand and consumer spending as with higher government expenditures and with tax cuts the liquidity in the system is increased (Mankiw, 2015). This increased aggregate demand shall increase consumption and investment which is translated as higher earnings for companies leading to higher EPS and thus, greater demand in the stock market (Duffy et al, 2013). On the other hand, expansionary monetary policy occurs when financial conditions are improved instead of demand. As we mentioned before, just like when central bank increases interest rates which leads to a fall in demand in the stock market, a decrease in interest rates pumps up profits as demand increases and leads to rise in prices. This happens in case of expansionary monetary policy, which improves the balance sheet of companies. Thus we saw, how via different channels of macroeconomic factors, hits the supply and demand of stock markets which brings changes in the equilibrium in the market and what follows is a fall or rise in price. A new investor in the market should investigate the current situation of the economy as well as expectations of changes in several macroeconomic factors which shall indirectly affect stock markets. References Duffy, D, Filis, G Chatziantoniou, I. (2013). Stock market response to monetary and fiscal policy shocks, JEL Bakshi, G Chen, Z. (2000). Baby boom, Population aging and capital markets. The journal of business. Feldstein, M. (2000). Inflation and the stock market, https://www.nber.org/chapters/c11335.pdf [Accessed 12th May 2017] Levine, R Zervos, S. (2000). Stock markets, banks and economic growth. The American economic review. Samuelson, P. Nordhaus, W. (2010). Economics. New Delhi: Tata McGraw Hill Mankiw, G. (2015). Macroeconomics. New York: Worth publishers Lipsey, R. Chrystal, A. (2011). Economics. New Delhi : Oxford

Corporate Takeovers in the US Oil and Gas Sector

Questions: 1. Shortage of funds of sub-$50/bbl in the context of projects and dividends?2. Abolishing production-maximizing policies?3. Procedures that can be adopted to achieve a low carbon global world? Answers: Introduction The following essay evaluates the global market conditions in the oil and gas industry, emphasizing on Big Oil companies. The Big Oil consists of major international oil companies, which are spread globally. These oil entities are the world leaders in oil and gas sectors in the country. It is currently is facing an economic meltdown with decreasing oil prices, lack of fossil fuels and harmful carbon emissions degrading the environment. However, big oil entities needs to continuously pay dividends to the investors, to seek their support in building the environment. On the other hand, Ahmad (2014) stated that big oil companies needs to re-consider its maximum production capacities, which are leading to global warming. Big oil companies are facing severe lack of funds with several brands delaying its projects. Production costs have been cut down, with a huge drop in total earnings from the last year. In its effort to rectify the situation, the brand has shifted to production that makes lesser use of carbon. Big Oil is facing several obstacles in its path, and its survival depends on adapting to changing circumstances in the oil and gas sector. 1. Shortage of funds of sub-$50/bbl in the context of projects and dividends Ju, et al. (2015) opined that the collective earnings of four of the biggest oil companies Royal Dutch shell PLC, Exxon Mobil Corp, BP PLC, Chevron Corp; collective earnings have decreased by 70% from the previous year. However, in the same period, big oil companies have paid almost $28 billion as dividends to their shareholders. Wilson and VanBriesen (2012) argued that this was at least 10% increase from the previous period. It is estimated, that the dividends to be paid would be consistent, and not unpredictable like the oil prices. The total collective earnings of prominent oil companies- Royal Dutch ShellPLC,Exxon MobilCorp.,ChevronCorp.andBPPLC have fallen by 70% in the current financial year (Aloui et al. 2014). Oil prices are currently valued above $40 a barrel. According to Handfield et al. (2015), this is the lowest price since August, the last year. As such, there has been a shortage of funds at Big Oil companies. These entities believe that they have a strong financial condition, which would provide them with additional funds as and when required. Oil majors believe they have to pay regular dividends to avail investors. However, this can be harmful in the long run, and can affect the cash position of the companies. The worlds biggest oil companies are striving hard to achieve enough income to balance operational costs and dividends. Wilson and VanBriesen (2012) argued that this shortfall in funds reflects the existing state of Big Oil companies like Exxon, Shell and Chevron. The decreasing prices of oil have been a regular feature in the last 16 months. Major oil companies have reduced production costs by $30 million in the recent months, and have initiated the laying off process of employees. In addition, this has resulted in projects being delayed, with more cuts expected. As per investment bank Oppenheimer and Co, energy investor must now plan differently, due the depleted state of the existing oil companies. On the contrary, Davies et al. (2014) mentioned that decreasing production expenses could negatively influence the production capacity of Big Oil Entities. In an effort to implement cost cuts, four major BIG oil entities have postponed production of about 7.3 billions of natural gas and other liquid resources. It is the believe at Big Oil that to achieve business sustainability, operational expenditures need to be reduced than cutting down on payment of dividends. Murray (2013) has stated that without m reducing dividends by a substantial percentage would discourage investors from investing. In addition, this would not reflect well on brand reputation and goodwill of Big Oil companies in the market. Exxxons dividend has a growth rate of 6.4% per year in the last 33 years (Stackhouse and Stewart 2016). Chevron, Shell and BP have made dividends payments a priority irrespective of the market condition. The prominent energy companies emphasize on payment of dividend to investors, without considering reduced profits followed by a decreasing oil prices. Italian oil and gas entity Eni Spa has been the only exception, by reducing dividend payments by 30%, when compared to the last year (Chong et al. 2014, p. 015). 2. Abolishing production-maximizing policies According to Pedroni et al. (2013), a large portion of oil in the Middle East, coal in Australia, US and China and other fossils would have to reserved, to avoid dangerous climate change. As such, it becomes necessary to retain temperature to about the permissible 2C safety limit or below. As per the recent research published in the Journal nature, the facts and figures relating to unused fossil fuels and its locations have been stated, to prevent any dramatic changes in climate. The research work has implemented established economic models to predict that effective climate strategies would adopt cheapest fossil fuels in its production process. Using expensive fuels priced highly, which would emit carbon within the permissible limits, is also an option for manufacturing entities, which require a large amount of fossil fuel. However, Kelland (2014) mentioned that technology to remove carbon emissions have not beneficial to the global climate in general. Besides this, the technology has made no impact in retaining unused natural gas and coal. Prominent fossil fuel entities like Lukoil, Exxon Mobil, BP, Gazprom and Chevron have large oil and gas reserves (Fidler 2013). If they continue with a production maximizing policy, these natural reserves would be depleted within a short period. Coal is considered as the most harmful pollutant of all fossil fuels. As such, 82% of global coal reserves must be left untouched, to deal with global warming and climate change (Handfield et al. 2015). In countries like Australia, US and Russia all most 90% of the coal reserves have to be left unused to retain healthy climatic conditions. As per Palmer (2013) in the case of natural gas, 50 % of the global reserves should not be burned. However, important gas producers in the Russia and Middle East have to leave substantial portion underground to achieve healthy weather conditions in these places. Moreover, Europe and the United States can use almost 90% of the gas reserves, to replace coal and provide power to local entities. Fidler (2013) mentioned that only a one-third of the global oil reserves must be left untouched. As such using if oil resources would not posses any major threat to the weather conditions. However, Pribadi et al. (2014) stated that the Middle East is required t o leave almost 260bn barrels of oil in the underground, to maintain environmental balance in the region. Despite of the danger towards environmental degradation, large amount of investments are made to explore newer sources of oil and gas reserves (Stern 2014). In the previous year, fossil fuel entities incurred expenditure to the amount of $67o bn on finding better oil and gas resources (Fidler 2013). The trend relating to finding better resources of fossil fuels can be extremely harmful to the environment. In addition, experts at Big Oil feel that unconventional fossil fuel like Canadas Tar cannot be used, and should be left in the ground (Cox et al. 2016). Financial expert at Bank of England and Goldman Sachs believes that there is an inherent risk in expensive fossil fuel projects, since they are likely to incur losses due to adverse climatic changes. Kelland (2014) highlight the contradictions in government actions in different countries. This relates to implementing measures to maximize fossil fuel production, as well taking an active part in limiting global warming. 3. Procedures that can be adopted to achieve a low carbon global world The following are the plans made by oil companies to adjust to a low-carbon global world. Using natural gas Murray (2013) asserted that fossil fuels would constitute around 50 % of the global energy sources, in the current year. As such, using natural resources would produce very less carbon dioxide than in coal. Carbon dioxide being a harmful air pollutant can cause considerable damage to the atmosphere, and to the business sustainability of major oil companies (Ahmad 2014). As such, experts believe that natural gas can play a prominent role in reducing carbon dioxide in the air. Thus, Big Oil companies can adopt this approach in preservation of natural gas and utilizing it, without any wastage remains an important concern for big oil companies. Emissions from global supply chain Mitchell and Mitchell (2014) stated that due to the presence of methane, a strategic plan must be implemented to reduce methane emission form the manufacturing process. As such, required measures would assist to not only curb carbon dioxide levels, but also setting stricter methane emission goals. As per the sustainable gas institute, methane emission remains a primary concern, in reducing carbon monoxide levels in the air. Utilization of advanced technology mechanisms can reduce emission of methane largely. The necessary awareness to climate risk Business models must consider preservation of natural resources, in developing a successful business model. Oil entities need to be innovative and emit less amount of carbon dioxide as possible. Implementing a carbon-free production process would assist Big Oil to negate any harm to the social and environmental aspects in the community. In the global market scenario, the brands operating in the oil and gas industry would have to strictly monitor their business operational policies to prevent any damage to environment. Commercial Energy Handfield et al. (2015) mentioned that oil and gas companies could diversify into producing renewable energy. Big oil companies have begun investing into renewable energy by using wind power at the sea. As such, it becomes essential that oil and gas companies look for other means to production of energy. Innovation and investment in research and development is essential to the development of alternative means in developing commercial energy in the country. Huge carbon cost According to Mitchell and Mitchell (2014), a number of large business groups like BG group, BP, Statoli in the recent times introduced the global carbon price. Global carbon price is the standard cost of carbon determined by the major oil companies in the world. In this manner, use of carbon would be less in the production process. Big Oil companies can decide on a pre- settled price, so that buyers would be forced to look into other means of production. Carbon storage Fidler (2013) opined that Carbon storage techniques have evolved in the modern age, due to the wastage of oil and gas resources in the country. Big oil is using the technique of carbon capture and storage to deal with greenhouse gas emissions. Cox and Ng (2016) mentioned that this would guard against 75-90% of carbon dioxide generated from a power plant from entering the atmosphere. In the current times, CSS power projects have been a relevant part in the effort to reduce carbon emission. Last year, the first large scale power sector CSR project became operational in Canada Recommendations - The following recommendation can be made to assist Big Oil in recovering from the present situation Costeffective production- The brand can use cost effective production measures to offer quality products at reasonable price to corporate clients. As such adopting harsh production measures can further lead to global warming and environmental degradation. Hence, this would not help the firm to achieve business sustainability or corporate reputation and goodwill of the firm. Besides this, delaying business projects due to a lesser production budget would hamper the growth prospects of the brand in the end. Thus, the brand needs to change its production process from cost-cutting strategy to a cost effective strategy. Alteration in business policies- Big Oil can modify is production strategies, to avoid incurring unnecessary expenditure. The aggressive production policy adopted by these major oil entities cannot be reasonable, where prices of fuels has been decreasing at an alarming rate Conclusion It can be stated that Big Oil is currently in a continuous path of decline and is facing severe business crisis. Its lack of profitability in recent times, have contributed towards its downfall. However, the brand has implemented towards shifting to low priced non-carbon production procedures that can reduce production costs and carbon emissions in oil and natural gas productions. Besides this, the brands have adopted latest storage procedures to address issues in its production process. Through this, Big Oil feels that this would enable the brand to adapt to changing market conditions in the market. Industry experts believe that the Big Oils business strategy of maximum production has been adversely harming the environment and business prospects of Big Oil in the global market. Big Oil brand pay regular dividends to investors. As such, they have to make a balance between paying dividends and keeping surplus funds in times of crisis. Big oil needs to be proactive and implement strong measures in such a volatile market environment. References Ahmad, A., 2014.Examining risk behavior and risk management practices in oil and gas construction industry(Doctoral dissertation, Universiti Teknologi Malaysia, Faculty of Management). Aloui, R., Assa, M.S.B., Hammoudeh, S. and Nguyen, D.K., 2014. Dependence and extreme dependence of crude oil and natural gas prices with applications to risk management.Energy Economics,42, pp.332-342. 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Environmental Management of Oil and Gas Activities in the Exclusive Economic Zone and Continental Shelf of New Zealand.Journal of Energy Natural Resources Law,31(2), pp.123-146. Pedroni, P.M., Jaramillo, H., Torres, C.M.D.L., Navarrete, Z.H., Bernalà ¢Ã¢â€š ¬Ã‚ Ramirez, J. and Reed, T., 2013. A partnership approach to addressing applied ecological research needs of an oil and gas business.Journal of Applied Ecology,50(3), pp.539-543. Stackhouse, M.R. and Stewart, R., 2016. Failing to Fix What is Found: Risk Accommodation in the Oil and Gas Industry.Risk Analysis. Stern, J., 2014. International gas pricing in Europe and Asia: A crisis of fundamentals.Energy Policy,64, pp.43-48. Wilson, J.M. and VanBriesen, J.M., 2012. Oil and gas produced water management and surface drinking water sources in Pennsylvania.Environmental Practice,14(04), pp.288-300.