Comparing The Epic Of Gilgamesh And The Iliad - 2049 Words

Character relationship similarities and differences in The Epic of Gilgamesh and the Iliad: In The Epic of Gilgamesh and the Iliad, heroes Achilles and Gilgamesh have important relationships with characters that directly and indirectly give readers a look at the character we may not normally see. For the mighty demi-god Achilles, the person who aids in revealing his feelings is the warrior, Patroclus. Patroclus is a warrior who Achilles has a great respect for, and his eventual death sends him into an enraged killing spree. For the tyrannical king Gilgamesh, this was Enkidu; the hairy man sent by the gods to put him in his place after displeasing them. Enkidu’s death brings to light feelings that Gilgamesh did not even know he had; his fear of death being the most prominent. The relationships that these characters have with their companions open them up for readers, allowing the characters to be viewed in a whole new light. Due to the deaths of their companions, we see tenderness and emotional vulnerability from the heroes. That is uncharacteristic to these characte rs when we are first introduced to them. Despite Achilles and Gilgamesh both having their outlook on life changed after the death of their friends, there is also a lot that separates these two relationships while all characters are alive. Unlike Enkidu does for Gilgamesh, Patroclus is not needed to define Achilles as a character. Achilles himself does not change his characteristics a great deal before hisShow MoreRelated Comparing the Hero in Epic of Gilgamesh and Homers Iliad Essay730 Words   |  3 PagesThe Hero in Epic of Gilgamesh and the Iliad    One and the same lot for the man who hangs back and the man who battles hard. The same honor waits for the coward and the brave. They both go down to Death, the fighter who shirks, the one who works to exhaustion. (IX,385-88) Thus muses Achilles, one of epic poetrys greatest heroes. Epic poetry, one of the earliest forms of literature, began as an oral narration describing a series of mythical or historic events. EventuallyRead MoreSimilarities Between Paradise Lost And Paradise Lost1239 Words   |  5 PagesParadise Lost comparison to three epics of antiquity There are many ways to compare and contrast Paradise Lost with the three other epics of antiquity. The epics are Paradise Lost, Aeneid, The Epic Gilgamesh, and The Iliad. The most obvious difference is era. Paradise Lost is an epic poem from the 17th century and is written in blank verse which is the most modern phrasing method. According to an article on Enotes, out of the other three epics, the Iliad and Aeneid came from the same dactyllicRead MoreGilgamesh, the Illiad, the Aeneid1661 Words   |  7 PagesAnglo-Saxon era in history, long narrative poems, known as epics become all the rage. These poems were written in elevated styles that presented the adventures of a hero with superhuman qualities who embodied the national ideals. These ideals and adventures were presented through elements such as dreams, courage allowing the hero to overcome great trials, and a major battle scene. These elements, known as epic conventions, created epics that to this day continue to be read an d taught throughoutRead MoreThe Heroes Of The Epic Of Gilgamesh1215 Words   |  5 Pagesthemselves. Noble, kind, selfless; these are all traits that embody the modern hero. This was not always the case, however. In ancient literature, the heroes are not good role models, most of the time. Gilgamesh in The Epic of Gilgamesh is prideful and selfish in his conquests. Achilles in The Iliad drug his enemy’s body around his friend’s funeral pyre for days on end. Heroines in ancient literature are closest to what is considered a hero today, even if their methods are unconventional. LysistrataRead MoreComparing The Epic Of Gilgamesh1779 Words   |  8 PagesPride The Epic of Gilgamesh was translated by Andrew George and the Iliad was written by Homer. These are both heroic epics that show some similarities in their stories. The Epic of Gilgamesh came to us in a fragmentary form and was written in some form we no longer have. It possibly influenced the Iliad because the Iliad showed some modification of the epic and was written later than Gilgamesh. Both stories show some similarities in theme, such as pride, morality, friendship, love, fate, and free

Foundation Of American Mindset Prompt Three - 1213 Words

Jordan Rainey Roberts APLANG 11 January 2016 Foundation of American Mindset: Prompt Three American history is full of powerful people that influence the history of the America and the actions taken to stand up for what the citizens believe in. Patrick Henry is one of America s most influential people that took a stand for what he believed in when he presented the Speech to the Second Virginia Convention. Another influential person is Thomas Paine when he wrote the Crisis No.1. Although the Crisis was meant to be read, it was read aloud to unify the troops and boost morale. Henry and Paine both build their arguments and points using ethos, pathos, logos, personification, and strong imagery to appeal to their audiences, while using similar rhetorical devices to achieve their goal. In Patrick Henry s speech he is addressing the Second Virginia Convention, Henry is trying to convince the colonists that they should be preparing for war if Britain does not meet the colonists demands. Although he emphasizes that he is patriotic towards Britain, he has a different view on how to handle the conflict. Patrick does not immediately discredit the audience but tries to show them a different viewpoint. He references the bible saying, different men often see the same subject in different lights (Henry). He then builds his ethos by expressing his religious passion. Henry states I consider it as nothing less than a question of freedom or slavery (Henry), he uses it to tell theShow MoreRelatedThe Attack On Pearl Harbor988 Words   |  4 Pagesmorning on December 7, there was near to 360 Japanese planes assaulted around 33 American ships which were requests of Vice-Admiral Chuichi Nagumo. America maintained a loss of 170 flying machines that morning and additionally 18 boat s. Three thousand seven hundred Americans lost their lives in one day yet. December 8, President Franklin D. Roosevelt conveyed a discourse, otherwise called the Notoriety Speech to the American subjects, illuminating them that this happened while the U.S. was among contrariesRead MoreThe Black Panther Party By Jessica C. Harris1053 Words   |  5 Pages86, No. 3. (Summer, 2001). The entire paper epitomizes the writer s wide extension, impeccable written work abilities and clear rationale in breaking down a questionable point. Black Nationalism is a belief system that goes for freeing African americans from mistreatment and setting up self-determination for the black comunity. Harris touches on Classical Black Nationalism and Contemporary Black Nationalism. Traditional Black Nationalism is essentially as slave rebellions. Be that as it may, ContemporaryRead MoreThe Development Of The American Equity Framework Essay1311 Words   |  6 PagesThe development of the American equity framework is a captivating subject that can prompt to years of recorded study and investigation. A decent criminal equity graduate program will give you enough information to abandon you wanting more as I gained from my time in school. The principal pilgrims to America brought the criminal equity arrangement of English custom-based law to our shores. The framework depended on the start of Mens Reas (liable personality) and the impact of the Catholic ChurchRead MoreRelevance Of Transcendentalism1299 Words   |  6 PagesTopic/prompt: Based on what you’ve read, argue whether the ideas generated from the Transcendentalist movement are still relevant to today’s world (and if so, how, and if not, why not). You may choose to focus on one of the three thematic categories we’ve discussed (Importance of Self-Reliance, Value of Simplicity, or Illusion of Progress) or you may create your own thematic category but I recommend you narrow your focus. American Transcendentalism was an important philosophical and literaryRead MoreNurse1288 Words   |  6 Pagescaring that has a foundation in dignity, respect and trust. Watson’s theory and her four major concepts of human being, health, environment and nursing can be applied to the problem of frequent hospitalization due to non-compliance issues that occur. Human Being Nurses that work in hospitals that provide health care for people with poor socio-economic status often experience â€Å"frequent flyers†. An example of such patient is Mr.K, a 56 year old African American male admitted withRead MoreAre All Children Receiving Effective Instruction For Academic Success?2017 Words   |  9 Pageseducation. We are taught that if you want to become successful, make a difference, or live comfortably you had to get an education. The old motto: â€Å"The American Dream† This dream drives people to believe that they must do well in elementary, middle, and high school, in order to go to college and earn a degree. This is the mindset that shapes Americans’ beliefs . Education equal success, right? Theoretically, all children have the right to a quality education, but the question remains. Are all childrenRead MoreThe Lynching Of Thomas Shipp And Abram Smith2243 Words   |  9 Pages America, at present, is beg inning to look more like itself every day. One of the main reminders of how things used to be is a gauge of social attitudes. Social attitudes are often the slowest and most difficult of mindsets to change. One such example concerns racism—such prejudice is itself the result of psychosocial conditioning that is exercised across multiple spheres. Racism represented a particularly insidious exercise of prejudice codified into law. The codification of this racism manifestedRead MoreImpact of Nursing in a Professional Environment2438 Words   |  10 Pagesever-changing fast paced health care system, many woman feel that they receive little personnel attention during pregnancy and childbirth from their healthcare provider. Despite the high quality of care that midwives provide to expectant mothers, American women have few opportunities to use the service of midwives. Barriers to Midwifery care in the United States include physician opposition, public perception as substandard c are, state and federal regulations, lacking of training programs, lack ofRead MoreSpirituality and Substance Abuse Recovery Essay2818 Words   |  12 Pagesthe puzzle for overcoming addiction. In research collaborated by Laudet, Morgan and White, there are three stages of recovery for those with the disease of addiction: early recovery, middle recovery and late recovery (2006, p. 36). In early recovery, staying clean is the main focus. Every day thoughts revolve around simply making it through the day without using. This stage, lasting one to three years, can be the most difficult, and is most likely the area when relapse is most frequent as clientsRead MoreThe World Of Human Trafficking Essay1954 Words   |  8 Pageswhich in turn, seeks to prompt countries to take action once they know they are being watched and evaluated. Yet while it has been shown that, for most countries, a poor TIP report ranking incentivizes them to take surface-level action in addressing the issue of trafficking, it often lacks the power to bring about systemic change within a nation. Many studies have been done on the determiners and predictors of human trafficking. In this paper I will focus predominantly on three causes and their effects:

Mental Impacts Of Alzheimer s Sickness - 1687 Words

Every single person longs for carrying on with a customary, ordinary life, viewing their youngsters grow up and have groups of their own. Be that as it may, for a few individuals this fantasy can be eradicated alongside their memory. Alzheimer s sickness is a dynamic infection that differs from individual to individual, burglarizing its casualty of their past and future. This appalling infection brings up an exceptionally basic philosophical inquiry: Does the loss of memory mean the loss of individual personality? Albeit most people who have considered this situation hold that relinquishment of memory equivalents a change or even loss of individual character, this paper will demonstrate this is not as a matter of course genuine. Keeping in mind the end goal to completely see how this lesser held perspective is, truth be told, genuine one should first fathom both the organic and mental impacts of Alzheimer s. Along these lines, this paper will be isolated into two sections. The primary part will show the causes, results, and medicines for Alzheimer s. In the second area, supporting proof will be advanced keeping in mind the end goal to demonstrate that a halfway or even finish loss of self-portraying memory does not constitute a change in or the obliteration of individual character. Alzheimer s Disease (AD) is a standout amongst the most widely recognized of the dementia-affecting sicknesses. Alzheimer s is a dynamic, degenerative ailment that assaults the mind;Show MoreRelatedAlzheimer s Disease Is An Ongoing Condition That Destroys The Connection Of Cells1689 Words   |  7 PagesAlzheimer s disease is an ongoing condition that destroys the connection of cells in the brain. According to the Alzheimer’s Foundation of America (AFA), it is estimated that as many as 5.1 million Americans have Alzheimer s disease today. Alzheimer s disease was discovered by a German physician named Alois Alzheimer. In 1906, Dr. Alzheimer saw changes in the brain tissue of a woman who died from what he presumed to be a mental illness. He described her symptoms as memory loss, language complicationsRead MoreUnpredictable Impacts Of Alzheimer s Disease And Their Effects On Social Institutions2358 Words   |  10 Pages Unpredictable Impacts of Alzheimer’s disease and Their Effects on Social Institutions Wesley Scott Miami University â€Æ' â€Å"It s paradoxical that the idea of living a long life appeals to everyone, but the idea of getting old doesn t appeal to anyone.† – Andy Rooney Imagine what it is like to forget a loved one’s face. Consider the possibility of being lost in a once familiar place. Although these actions could be symptomatic of old age, they might also suggest the onset of a much more sinisterRead Moreaging Essay6944 Words   |  28 Pagesbecause they often exhibit slow maneuvers; gaps appear to be too short for them to execute comfortable maneuvers. Spatial abilities are also affected by the aging process. Previous research has shown that age-related deficits in mental rotation tasks have detrimental impact on certain components of the driving task. Albert and Kaplan (1980) reported that older people tend to focus only one piece when asked to identify an object by mentally rearranging several pieces. Thus, older drivers have majorRead MoreUnderstanding Specific Needs- Health and Social Care Related Essay5310 Words   |  22 Pagesindividuals with specific needs. The World Health Organisation (WHO, 1946) describes health as ‘a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity’. Concepts related to health and social care that have been adapted to define health and disease in individuals include disability, illness, impairment, sickness and behaviour to name a few. These concepts may be misused by individuals who don’t actually understand the term. In order to be aRead MoreItec Nutrition Case Study8549 Words   |  35 PagesWhen gluten is removed from the diet recovery can be complete. Johanns symptoms. Johann becomes very sick when she eats gluten although not all the time. 3 out of 5 times she get severe diaroagh and vomitting. This could last up to 2 days. Because sickness is not definate she often tries to eat somthing she likes with gluten present. How it affects johanns eating patterns. Johann substitutes wheat for gluten free alternatives. Gluten free bread, buscuits, cakes, pudding and sausages. She doesnt eat

Shen Kua Essay Example For Students

Shen Kua Essay Astronomy 201Astronomer, Shen KuaShen Kua was born in China in the year 1026. Shen Kua was born to Shen Chou and his wife Hsa. His family had an unbroken tradition of being civil servants. Thus his father was a local administrator of many posts from Szechwan in the west to the international port of Amoy. At Sixteen years old Shen Kua left his home to travel with his father from post to post. While traveling with his father, Shen Kua learned the responsibilities of a local administrator. These responsibilities include a broad range of technical and managerial problems in public works, finance, improvement of agriculture, and maintenance of waterways. In 1051 his father died and after a two year mourning period Shen Kua received his first appointment as a local administrator at the age of twenty two. Soon after his appointment he showed his skill in ability to plan by designing and overseeing a drainage and embankment system that reclaimed some hundred thousand acres of swampland for agriculture. A few years later he passed the national examinations and was assigned a post in Yangchow. While in Yangchow he impressed the Governor Chang Chu so much that he recommended that Shen be appointed to the department of Financial Administration. It was about this time that he began to study astronomy. His first works as an astronomer came when he set down clear explanations concerning the sphericity of the sun and the moon as proved by lunar phases, of eclipse limits and the retrogradation of the lunar nodes. These explanations gave the ability to visualize motions in space Which in the past was only best implicit in numerical procedures of traditional astronomy and seldomly discussed in technical writing. Because of this work Shen was given an additional appointed as director of the Astronomical Bureau. His first project as director was a major calendar reform. This reform started with a series of daily observations of the stars that lasted over five years. While these observations where being performed Shen realized the need for a major redesign of major astronomical instruments. The most significant change that Shen made was to the gnomon. The gnomon was still being used to measure the noon shadow and fix the solstices. Shen redesigned the armillary sphere that is used to make angular measurements, and the clepsydra which determines the time that observations are made. He improved the armillary sphere by improving the diameter of the naked eye sighting tube. Shen noticed that the polestar could no longer be seen in the sighting tube at night. He slowly widened the tube by using the plots of the polestar three times a night for three months to adjust the aim. His new calibration revealed that the tube was slightly three degrees off. The clepsydra also had calibration problems as well, in the past day and night were separately divided by hours. Shen realized that day and night hours were different from season to season. The time was read from float rods in an overflow-tank. Shen saw these problems and proposed a new design for these float tanks. Shen also made his mark in his discussions of solar, lunar, and eclipse phenomena. This by far was the most extraordinary of his cosmological hypothesis that accounts for variations in planetary motions that include retrogradation. Shen noted that the greatest planetary anamoloy happened near stationary points. He proposed a model that suggested that the planet moved in the shape of a willow leaf attached to one side of a periphery circle. The way the planets changed thier direction of motion in respect to the stars was explained by the travel from one point of the leaf to the other. This served the same purpose as the epicycle served in Europe Shens writings were in part considered to be the highest achievement in traditional Chinese mathematical astronomy. After his impeachment from office at the age of fifty-one Shen moved to a small piece of land in the country. It was there that Shen completed three books and an atlas of China. One of these books was called Brush Talks From The Dream Brook. This book includes some of Shen Kuas most elaborate ideas on such things as regularities underlying the phenomenal, technical skills, deliberations of materia medica, and many miscellaneous notes. .u13 387350a4739c88cd224764a6feb553 , .u13387350a4739c88cd224764a6feb553 .postImageUrl , .u13387350a4739c88cd224764a6feb553 .centered-text-area { min-height: 80px; position: relative; } .u13387350a4739c88cd224764a6feb553 , .u13387350a4739c88cd224764a6feb553:hover , .u13387350a4739c88cd224764a6feb553:visited , .u13387350a4739c88cd224764a6feb553:active { border:0!important; } .u13387350a4739c88cd224764a6feb553 .clearfix:after { content: ""; display: table; clear: both; } .u13387350a4739c88cd224764a6feb553 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u13387350a4739c88cd224764a6feb553:active , .u13387350a4739c88cd224764a6feb553:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u13387350a4739c88cd224764a6feb553 .centered-text-area { width: 100%; position: relative; } .u13387350a4739c88cd224764a6feb553 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u13387350a4739c88cd224764a6feb553 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u13387350a4739c88cd224764a6feb553 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u13387350a4739c88cd224764a6feb553:hover .ctaButton { background-color: #34495E!important; } .u13387350a4739c88cd224764a6feb553 .centered-text { display: table; height: 80px; padding-left: 18 px; top: 0; } .u13387350a4739c88cd224764a6feb553 .u13387350a4739c88cd224764a6feb553-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u13387350a4739c88cd224764a6feb553:after { content: ""; display: block; clear: both; } READ: Necessity of Prenuptial agreements within Australi Essay

Population Growth Problem Essays - Demography, Human Overpopulation

Population Growth Problem The growth of the world's population is a problem that many people see as being addressed at some point in the future. While we live in a country that is reaping the benefits of a superpower, most of the United States is disconnected from the problems of population growth. In this paper, I intend to address three major issues. How long will we be able to support our planets food needs? How can we deal with population growth in the present day? And How come certain areas tend to have larger population growth than other areas? But first in this paper, I will see how the theories of sociologists and demographers fit into the Earth's population problem. THEORIES MARX 1818-1883 Karl Marx viewed a capitalist society as an economic system that was bound to fail. In Marx's opinion this eminent failure was based in the design of the system. According to Marx, In the capitalist economy there are two major groups; the bourgeoisie and the proletariat. The bourgeoisie are those who own the means of production, have the power. The proletariat are those that work for the bourgeoisie and are at their mercy. At the economy develops, the gap between the bourgeoisie and the proletariat grows wider and eventually all the capital is controlled by a small percentage of the population and the proletariat is forced into poverty. To someone with little or no sociological background, the above paragraph has nothing to do with population as a social problem. But if you fit population into Marx's description of the capitalist system, it is more relevant than at first glance. The best way to make this point clear is to provide two hypothetical situations. Family X is a middle class family that is doing well financially and they tend to have more children than if they are not making so much money. But as the bourgeoisie gains more and more control, families like X have their income driven down and ultimately have fewer children. Families must have enough money, food, etc. to survive. If they don't have these goods and they can't control their wages, they must control they must control an aspect of their lives that would allow them to survive, whether or not to have children. Family Z is an extremely wealthy family that more or less monopolizes an aspect of their economy. As the economy progresses, family Z is able to drive down the wages of their workers thereby increasing their profit. Since a family like Z is only a small percent of the population, there is no worry whether or not they have many children. So in our society, according to Marx, we have nothing to worry about. As long as we continue with our economic trend, population will fix itself. Now if you look at Marx's theory on the whole, it makes a lot of sense. MALTHUS 1766-1834 Malthus was a sociologist that was the author of Population: the first essay. This essay is about the perfection of mankind. Malthus describes the different stages that man has gone through and he provides theory to control population. Malthus was sure that we can control population if we are able to use moral restraint. If we can fight against our natural urges to have children, it will keep population growth in check. One of the reasons that we have to control our natural urges is that there will not be enough food to support our population. Maltus feels this way because population grows at a geometric rate, while food can only be grown at an arithmetic rate. So we are in effect sealing our own fate by having children. Malthus says that by thinking about all of the hardships that our children will have to face, we will be motivated not to have them. So while Marz's theory more or less happens on it's own, if we are to listen to Malthus some work is to needed by us. WELD Weld is a contemporary Canadian sociologist that deals with population problems from an aspect that can be more easily understood by people of our time. In one article "Confronting the Population Crisis the twenty one most commonly used arguments to confound the issue." In this article, Weld is able to respond to those that don't view population as a social problem. Although I would like to go into each of Weld's responses, this is not a paper on her, so I will only choose a few. Her response to argument 2

Economic Deflation in the Euro Zone

Economic Deflation in the Euro Zone Introduction Between 2009 and 2011, the entire world experienced a global recession that decreased the purchasing power of most people. The trend mostly affected the US; an idea borrowed from the initial crisis experienced in Europe. Notably, the number of people who spent on luxurious goods and services was minimal.Advertising We will write a custom report sample on Economic Deflation in the Euro Zone specifically for you for only $16.05 $11/page Learn More Most statisticians establish that the cause of the great recession, which the society felt a little later in 2008 was because many banks issued loans to clients enabling them to flood the real estate business. Mortgages became affordable in East Asia, the US, and the Euro zone. Most investors constructed houses whose occupants they are less likely to establish even today. When the world overcame the global financial crisis (GFC) in 2011, most banks including the European Central Bank (ECB) decided to low er its loan interests in order to accommodate the rising needs of borrowers within the euro zone (Ferrero 2014). In turn, the bank that largely depends on taxation, lending, and borrowing fails to achieve its objective in the society. The paper intends to explain how reduction in the prices of goods and services after the GFC is likely to cause a major deflation, and efforts underway to avoid the trend at the microeconomic and macroeconomic level. Deflation Economists equate deflation to a period in which the demand for goods and services grows because of a decrease in prices. They associate deflation with a falling aggregate demand (AD) and an increase in the aggregate supply (AS) (Gnos and Rochon 2011, p. 103). It results in an increase in the potential GDP over the actual GDP of a country. It means that a market experiencing high rates of deflation have high supply of commodities, which emanates from an increase in the purchasing power because of decreased prices. The following i llustrations explain how a decrease in the prices of goods and services influences the purchase decisions, which results in an increase in supply. Causes of deflation are assumptions made by different economists because it occurs differently across diverse regions. Two possible causes are a fall in aggregate demand and an increase in aggregate supply (The autumn statement: ‘Tis not the season 2014). The illustration summarises the fact that when manufacturers increase the production of different products and services, they should match the same with consumer demand.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More At the microeconomic level, consumers find economic stimulus in price, place, product, and promotion (Jones 2014). The four elements of marketing are very important in determining consumer decision, but the price strategy is an obvious catch when marketers seek to increase the demand levels. After the 2008 to 2011 GFC, manufacturers believed that increasing the supply of products and services would increase the demand. Breaking such economic rules might cause the European Central Bank a great deflation.  Most European countries are capable of borrowing from the central bank with an almost negative interest rate, in order to increase the number of people interested in national bonds and other credit facilities for the development of the Euro zone. This followed decrease in demand for credit facilities after the GFC. The intention was to reduce loan acquisition austerity implemented by most governments after the GFC (Burda and Wyplosz 2013, p. 19). Deflation is not only a problem of the European Central Bank (ECB), but for various manufacturers. In a normal price sensitive market, customers will always wait for a period in which the prices are very low. Delays in purchases reduce the value of the products in the market. When ECB decided to in crease credit finance for the people of Europe, it meant that the euro zone would later subject itself to debt increment. The euro zone has many debt problems within the private sector and the government (Mayes and Viren 2004, p. 17). Through bureaucratic principles, the euro zone survives the bouts of the deflation even though fears continue to increase over the economic stability of the region in the next few decades. A decrease in aggregate demand and an increase in aggregate supply are results of both benign and malign deflation. The 2008 increase in interest rates and prices of commodities was evident because of the increased intake of loans in 2001 and 2007. Benign deflation occurred between 2001 and 2007 determined by a higher supply or productivity and a low demand for loans (Langdana 2009, p. 95).Advertising We will write a custom report sample on Economic Deflation in the Euro Zone specifically for you for only $16.05 $11/page Learn More Such lev els of excess result in an increase in production capacity that exceeds the demand, and it causes a financial slump. In 2008, the demand for credit facility acquisition reduced because of the increase in the rate of interest on various loans. The IMF (International Monetary Fund) and the World Bank among other fiscal, but non-profit oriented institutions played limited role in reducing the risks associated with the deflation rates. The real estate bubble, low consumption power, and high productivity rates created an environment of confusion since the supply extremely exceeded the demand. Benign deflation signified most parts of the 19thcentury especially in relation to the GFC of the 1930s (Basci, Togan, and Hagen 2007, p. 144). A repeat was obvious in 2008 when the world was in the process of experiencing another GFC. Malign deflation occurred past the 19th century, and most European countries experience the effects of the economic concern. Arguably, there is no demand for the manu factured products and services.  Manufacturers and credit firms are very many and the competition is very stiff. Much concern is on the value and the security of a product or a bank offering the loan instead of the interest rates or the product quality. Malign deflation mostly results in organisational layoffs in order for companies to pay the employees. The exchequer also suffers because it has to collect taxes from the taxpayers who do not display the willingness to pay taxes. The negative multiplier scenario becomes evident because the country or the entire euro zone lacks a platform for increase in income, but has to spend on paying workers and outsourcing in order to increase supply of products and services (December 2014 euro system staff macroeconomic projections for the euro area 2014, p. 5). In essence, the productivity levels of countries increase, but there is no demand for the finished products and services. In return, the society fails to account for the needs of empl oyees across diverse industries. Euro zone’s below target inflation While the US had the Federal Reserve respond to its GFC, the euro zone had to seek the intervention of the ECB. Between 2009 and 2010, Europe experienced the worst case of inflation that made the population refrain from home or business ownership. The FOMC Federal Open Market Committee began creating an appealing environment for mortgage acquisition by august 2010, and the ECB had to create an assurance for the security of investment in most banks within the euro zone. Characterised by the benign deflation, most credit facility acquirers relied on security and value. Price sensitivity became an issue mostly sought after by the societal minorities. In the US, the Federal Reserve (FDR) took a bold step in making credit facilities attractive to the populace between August and December in 2010 (Mankiw 2007, p. 112). Like a security bond or an initial public offer, the FOMC created an opportunity for LSAP (Large S cale Asset Purchases) within the euro zone. The intention was to create an environment of economic stability or stimulus in order to encourage an increase in credit acquisition within the euro zone. In the US, the Federal Reserve ensured that by the end of the year 2010, it recovered fiscal investments while empowering the public to continue accessing credit facilities for mortgage acquisition.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Many questions arise concerning euro zone’s preparation for low inflation by following in the footsteps of the FDR. According to the EIB (European Investment Bank), the euro faces the risk of depreciation. Arguably, the euro zone is in the process of transforming into a new Japan. Before the GFC in 2008, the region’s economy was 2% less than its current state, and the same seems to be the trend to date (Bentley 2008, p. 31). EIB mentions that the euro continues to weaken, while the Southern states continue to gain prowess for their efforts geared at stabilising the troubled economies. For instance, in Germany, industrial production reduced immensely one year after the euro zone experienced the GFC. The following graph illustrates the way recession affected the euro zone between August and December 2009. From the graph, the month of August 2009 presented a period in which many countries within the euro zone faced deflation. In most cases, supply increased while the pur chasing power decreased. The reason was that few people took interest in loan acquisition in order to get mortgage or real estate services in an already flooded market. Germany is yet to recover with a steady rising GDP of about 0.2% annually. Russia, Belgium, France, and Britain are in the process of increasing consumption power by producing quality and security driven products and services instead of concentrating on the price strategy. Russia, Greece, and Turkey experienced conflicts with the IMF as they had to respond to fiscal sanctions put in place after the countries became incapable of repaying their debts (Fertekligil 2001, p. 49). Euro zone’s concerns and risks associated with the deflation The 2009 global credit crunch resulted in an increase in the cost of energy and basic commodities. Consumers refrained from increased purchases and loan acquisition in order to spend on basic commodities. Houses became very expensive because real estate businesses owners who init ially gained from the deflation in 2008 increased the prices of houses in order to earn high profit margins. The rationale was also to repay the increased loan interest rates, which they would raise from the houses. Even though the ECB reduced the loan interest rates in 2011 in order to attract consumers into loan acquisition, few people displayed interest in loans. Most businesses used capitalist means to set prices for their commodities instead of depending on government controls or other avenues of consumer watch. Banks also resisted loans from the ECB, and in 2009, they only acquired only 0.19% of the offer. Out of the 42 billion Euros offered by the ECB, only 82 million Euros facilitated banks in the euro zone. Other associated risks include improvement of other continents, both household and national debt increase, and reduced expenditure (Minerd 2014). The central bank and domestic banks face the risk of losing clients to microfinance institutions that offer less secured, but prompt loans (Wolfson 2014) Mitigation measures The euro zone strived to find long term solutions to the problem of inflation by reducing the cost of product and service acquisition. It resulted in an increase in supply based on low costs of production, and decrease in demand. Most economics sceptics feel that the reduction in interest rates might be a risky step for the euro zone. The ECB governing council should be completely in support of the process, but few members feel that the deflation awaiting the region will be irreconcilable in the future. Besides reduction in loan interest rates, the ECB promoted the bond worth 10.5 billion Euros, whose response remains low. Initially, the inflation rate within the region was 0.2%, but today it is 0.4% meaning that the euro zone has to continue increasing interest in ECB credit facilities. With a low inflation rate displayed by a 2% annual decrease, chances are that the euro zone could end up with the greatest rate of deflation in the w orld history (Mankiw 2007, p. 128). In France, the central bank decided to issue out a 10-year bond period with an annual 2% reduction in inflation rate since 2006. By 2010, the euro dropped to $1.2437 affecting parts of Portugal, Spain, Scotland, Ireland, and Austria. ECB critics mention that the euro zone should strive at reflating the economy in order to reclaim the rightful fiscal position of the region in the world. Other mitigation measures include the introduction of prolonged loan repayment periods in order make loan repayment manageable for most credit facility acquirers. Continued efforts geared at increasing cash flow within the euro one create losses for the ECB (Herman n.d., p. 92). The effects of the malign inflation increase the rates of unemployment because the excessively low consumer demand translates into low rate of tax collection. On the other hand, the government has to fulfil the needs of the growing labour market while the rate of unemployment increases. Macr oeconomic variables Macroeconomics represents fiscal discussions involving an entire country. It encompasses the makeup of microeconomic debates resulting from household expenditure and its effects on the national expenditure. Variables at the macroeconomic level include economic input and economic output. The euro zone assesses such measure within the private and the public sector with much emphasis on the economic equilibrium, economic sustainability, and rates of employment. Economic Output Experts always measures economic output based on the amount that the society effectively contributes towards the growth of the Gross Domestic Product (Gertler and Rogoff, 2004, p. 13). By 2010, the amount of imports exceeded imports in Scotland, and it meant that the UK GDP slightly reduced by about 1.8% from 2008 to 2009. The measure of economic output results from the rate of unemployment, inflation rate, and interest rates among other factors. Unemployment rates The rate of unemployment in the UK is twice the rate of unemployment in the US today. About 16% of the entire employable population lacks the capability to work in an initially unemployed environment. Unemployment refers to the ratio of the population that has stable job opportunities over the population that lacks placement in a stable institution in which they earn income (Banerjee, Marcellino, and Masten 2005, p. 31). Through employment, people pay taxes, which earn the government revenue through the UK revenue authority. The UK over the past decade strives at creating an environment of a zero unemployment rate, which is extremely difficult to achieve if not impossible. The International Labour Law (ILO) uses the claimant count to measure the rate of employment and unemployment in the UK. According to the claimant count measure, only counts the potential population of workers who have requisite qualifications, but lack placement in the proper job positions (Armstrong, Caselli, Chadha, and Haan 2014). It als o establishes the rate of unemployment based on the population of workers who are seriously looking for employment and the benefits that accompany such positions without success.  Self-employed people who do not earn social security benefits do not qualify for the unemployed in the UK, because they have sources of income from the private sector. The following graph explains the rate of unemployment in the UK from the 1980s to 2001, which market the beginning of the global benign deflation. The rate of unemployment increased when the purchase power of the UK residents reduced in 2009.   The society made little contributions through taxations, which reduced the rate of human resource acquisition and retention within the public sector. As many people lack jobs, they do not contribute towards the economic development through tax contribution. In addition, the self-employed individuals in the private sector only get enough resources to fulfil basic needs. Most of them operate in non -regulated industries based on freelance engagement meaning that the government cannot ensure tax compliance. Without tax contribution or a society defined by tax evasion faces the risk of economic underdevelopment. It happens because the exchequer lacks enough resources to pay employees in the public sector (Ller 2013, p. 47). Recession and interest rates Consumer indices determine the level of inflation in different countries. In the UK, the society determines an increase in inflation rates when the consumer index reduces. It means that the people cannot afford basic commodities because of an obvious increase in the prices. When the retail price index (RPI) increases, it means that the rate of inflation is equally on the increase (Minerd 2014, p. 2). Most statisticians use the existing interest rates to determine the level of inflation in the banking sector. Today, for a country within the UK to acquire credit facilities, it should follow the due procedures set by the central bank . When the interest rates in the central bank increased, most banks feared getting loans, and business people equally feared seeking similar services from the local banking institutions. When the trend continues, the UK begins worrying about its macroeconomic position. High interest rates mean that the euro weakens against the dollar and investors are likely to shift gear towards continents that perform well. Nobody would face a high risk of credit acquisition in a bank or country with very high interest rates. When interest rates increased in 2009, most people in the UK shifted towards sustenance of their businesses instead of acquisition of homes, luxuries, and mortgage facilities (Main Macroeconomic Indicators n.d.). The UK reduced the interest rates in order to avoid the real estate bubble that affected the euro zone and the US after the GFC. The UK believes in the creation of a stable macroeconomic environment by maintaining stable prices of commodities even in the face of a GF C, but the mitigation plan remains unachievable (Bentley 2008, p. 34). When inflation occurs, the cost of production increases, and only the companies dealing in consumables have the assurance of making profits. Non consumable products especially in the luxury sector face the risk of immobility in an inflated market. Concerns include the possibility of a global deflation already signified by a reduction in the aggregate demand for goods and services. The price strategy remains very relevant in the determination of quality assurance for goods and services in the market. When consumers fail to create a link between product benefits and prices then the purchasing power automatically reduces. Economic input Economic input signified by what the exchequer and the banks do to avoid inflation remains very important in microeconomics discussions. The variables under investigation include the economic equilibrium, equality, and fiscal sustainability. Economic sustainability The UK measures ec onomic sustainability through its actual and potential GDP. The actual GDP represents that the real measure of economic growth annually after eliminating the aspects of recession that affected the potential GDP (Akers 2014). A steady growth in the GDP signified by the 2% growth rate of the UK for the past 8 years means that the region has the potential of creating a sustainable employment environment. In 2009, the growth rate was reverse as the economy of the UK indicated a 0.2% growth rate, which resulted in low rates of full employment. Underemployment became a concern as most companies lay off workers in order to cater for the needs of a section of employees. In 2011, the economic stimulus process adopted and the labour law adopted by the employers in the UK resulted in the absorption of many unemployed people. Equality and equilibrium The UK has a huge number of immigrants, but it still strives at creating an environment in which its citizens are capable of enjoying the resource s without any form of discrimination. In order to provide an excellent environment of growth while still sustaining its Foreign Direct Investment, the UK has to imitate Japan. Currently, Japan leads in the production of surplus commodities even when the demand dies not match the supply (Fall in euro zone inflation rate fuels deflation concerns 2014). At the macroeconomic level, surplus production attracts interest from investors and foreigners who are likely to acquire the affordable products and services (Objectives of government macroeconomic policy 2014, p. 2). When FDI fails to solve the problem of recession in a country, high probabilities include the possibility of countries running into financial deficits as indicated in the graph. The graph gives credit to Japan that has a sustainable growth rate in the GDP enabling many people to get equal employment opportunities even in the face of a GFC. Establishment of a state of equilibrium remains a high priority for most countries including the UK. The UK displays interest in creating demand for the supplied products and services contrary to initial marketing strategies in which the supply responded to the prevailing demand. The World Trade Organisation (WTO) qualifies a steady economic growth and the market equilibrium as elements of macroeconomic growth (Riley 2012, p. 4). The WTO mentions that competition between countries creates an environment of sanity because countries have to understand that consumer satisfaction at the microeconomic level has a direct impact on growth at the macroeconomic level. As such, competition between Japan and the UK should continue until the UK is capable of surplus production. Maintenance of equilibrium between demand and supply is the only solution to inflation because the RPI will also reduce automatically. In summary, at the macroeconomic level, countries have to assess the economic outputs and inputs that are relative depending on the type of market involved in the discu ssion. Most countries within the euro zone have relatively close GDPs except for the few facing financial sanctions by the IMF. At the macroeconomic level, politics, technology, and socio-environmental factors have a direct impact on the economics of a country (Wickens 2011, p. 36). Conclusion The GFC affected different parts of the world; the responses towards the economic crisis were different. The euro zone might face a worst economic deflation in an attempt to lower the risks of the 2008 recession. The mitigation measures adopted by the euro zone are short term, but the most appropriate for the season. However, the changing economic environment that calls for increase FDI efforts makes it impossible to have unique ways of dealing with global financial crises that affect everyone in the world. References Akers, H 2014, What Are Key Macroeconomic Variables?, ehow.com/info_8180727_key-macroeconomic-variables.html Armstrong, A., Caselli, F., Chadha, J., and Haan, W 2014, Eurozone de flation could derail UK recovery: Results of the second Centre for Macroeconomics survey, voxeu.org/article/eurozone-deflation-survey-uk-based-macroeconomists Banerjee, A., Marcellino, M., and Masten, I 2005, Forecasting macroeconomic variables for the new member states of the European Union, European Central Bank, Frankfurt. Basci, E., Togan, S., and Hagen, J. V 2007, Macroeconomic policies for EU accession, Edward Elgar Publishing, Cheltenham, UK. Bentley, D 2008, Inflation: Roles, targeting, and dynamics, Nova Science, New York. Burda, M. C., and Wyplosz, C 2013, Macroeconomics: a European text, Oxford University Press, Oxford. December 2014 euro system staff macroeconomic projections for the euro area 2014, ecb.europa.eu/pub/pdf/other/eurosystemstaffprojections201412.en.pdf Fall in euro zone inflation rate fuels deflation concerns 2014, bbc.com/news/business-25976377 Ferrero, A 2014, Desperate times, desperate measures, The Economist, economist.com/blogs/freeexchange/2014/01/def lation-euro-zone-0 Fertekligil, M 2001, European monetary union and its impact on the Turkish economy, http://edoc.bibliothek.uni-halle.de/servlets/MCRFileNodeServlet/HALCoRe_derivate_00005724/196-414-1-SM.pdf Gertler, M., and Rogoff, K 2004, NBER macroeconomics annual 2003, MIT Press, Cambridge, Massachusetts. Gnos, C., and Rochon, L. P 2011, Credit, Money and Macroeconomic Policy a Post-Keynesian Approach, Edward Elgar Publishing, Cheltenham. Herman, S 2012, The recession Kama sutra, Summersdale, Chichester. Jones, C 2014, Dovish Draghi boosts hopes of ECB stimulus, The Financial Times, ft.com/intl/cms/s/0/e2bcc510-7160-11e4-818e-00144feabdc0.html#axzz3NTjAZVPR Langdana, F. K 2009, Macroeconomic policy demystifying monetary and fiscal policy, Springer, New York. Ller, J 2013, The global economy in transition: Debt and resource scarcities, World Scientific, Hackensack, N.J. Main Macroeconomic Indicators n.d., markets.com/education/fundamental-analysis/main-economic-indicators.html Mankiw, N. G 2007, Brief principles of macroeconomics, Thomson South-Western, Mason, OH. Mayes, D., and Viren, M 2004, Asymmetries in the Euro area economy, Suomen Pankki, Helsinki. Minerd, S 2014, Europe must act now to avoid ‘lost decade’, The Financial Times, ft.com/cms/s/0/cf718a1c-5a0a-11e4-be86-00144feab7de.html#axzz3NTjAZVPR Objectives of government macroeconomic policy 2014, tutor2u.net/economics/content/topics/macroeconomy/government_policy.htm Riley, G 2012, Deflation, http://tutor2u.net/economics/revision-notes/a2-macro-deflation.html The autumn statement: ‘Tis not the season 2014, The Economist, economist.com/news/britain/21635617-george-osborne-makes-up-lack-giveaways-bold-tax-reform-tis-not-season Wickens, M 2011, Macroeconomic theory: a dynamic general equilibrium approach, Princeton University Press, Princeton. Wolfson, P 2014, Coming soon?, The Economist, economist.com/blogs/freeexchange/2014/12/euro-zone-qe-0

Analyze 4 real cases of directors liability and lessons learned Essay

Analyze 4 real cases of directors liability and lessons learned - Essay Example Here, the director was liable for failing to act as stated in the company’s statutes. He, therefore, was responsible for breach of duty of diligence. The second case is about Limited v. Burns. The director was found guilty of running the company recklessly. The guilty verdict came as a result of finding the director guilty of the offense. The judge decided that the duty of care was clearly violated by the director. He was, therefore, liable for failing to act in the company’s statutes. He did not put into consideration the act of good faith while dealing with the company’s affairs (Webster 46). There were certain risks that were apparent but the director knew this, but still went ahead and did these transactions. In the third case, the director was found liable for acting under fraudulent means. Fraud can lead to serving a jail term (Webster 58). This was in the case of Lexi Holdings v. Said Luqman and Others1. Luqman used fraudulent means to acquire money from the company that had entrusted him with the task of paying in receipts to one bank account. He, however, transacted money to some other bank accounts that belonged to him, and some of his associates. He was liable for breaching the trust bestowed on him by the company. After being caught, he failed to disclose all his assets for fear of being arrested and jailed for fraud. This led the court to find him in contempt of court. He was jailed for eighteen months since he had acted outside the duty of obedience. The fourth case is identified as a breach of duty of care or diligence. This is in the case of Cellar House Limited. The director was fully responsible for reckless trading. He was found to be guilty of other breaches as well, for example, breach of loyalty. He was responsible for having the company in debt, and was forced by the court to pay over 1.7 million dollars. The activities that he conducted for the company were illegitimate. He did these transactions