Analyse the differences between the customer products offered by Essay

Analyse the differences between the customer products offered by Network Carriers and Low Cost Carriers - Essay Example When it comes to Asia, existence of Southwest effect has been observed that the growth of LCC terminals might balance. This paper involves assessing, evaluating and examining; how deregulation and the growth of LCCs (Low Cost Carriers) have affected international competition and market trends in the type of products offered to customers in air travel. The major concern of Airline Deregulation Act was to end government interference in prices, routes and new entries from aviation. It was to permit airline customers to come across true and open airline market forces. But The Act could not completely end or reduce the FAAs regulatory interference. The radical deepened the catastrophe attacks on September 11, 2001. Astonishingly at foremost momentary look, low-cost carriers (LCCs) were not only passed, but were boosted by this enormous recession. On continental travel routes, LCCs are competent to convey 80% of the overhaul superiority at a reduced amount of about 50% of the price tag of NCs. accordingly; LCCs can—at least in hypothesis—embark on more than 70% of continental O&Ds, captivating them far-flung from their genesis as function businesses. Nonetheless, for most transnational routes bundling stipulate in a focal point remnants a required prerequisite. Confront for NCs is now to reinvent their possess business representation. This article analyzes the explanation drivers of the present-day changeover segment and outlines the vision of highly developed airline business models that potentially guide to a new era of stability. Apiece airline is a multifarious classification that lives from the interface in the middle of an assortment of parts of the classification: aircrafts, airports, passengers, aviation course of action. In the current decades, the LCCs are converted into significant dramatis personae in air carrying around the world particularly in Europe and Asia.

PoL Essay Example | Topics and Well Written Essays - 1750 words

PoL - Essay Example 298). The nature of management work is to bring together the three forms of leadership: adaptive, administrative and enabling. The bringing together of these three forms of leadership, the interaction between the â€Å"bureaucratic, administrative functions of the organization and the emergent, informal dynamics of CAS† are reflected (Uhl-Bien et al 2007, p. 298). In this regard, management works overseas adaptive leadership which refers to adapting to, being creative and learning to act within and from the CAS interactions for the purpose of adjusting to changes within and outside of the organization. Administrative leadership organizes roles within the organization. The nature of management work under the guise of enabling leadership functions to â€Å"catazlyze the conditions in which adaptive leadership† may exist and management interactions among all aspects of leadership (Uhl-Bien et al 2007, p. 305). Delegation and empowerment follows from the complexity leadership theory’s entanglement of three leadership operatives. Thus, the delegated power falls to CAS or â€Å"complexity adaptive emergent forces† (Uhl-Bien et al 2007, p. 305). Ideally, adaptive leadership (the delegated power) functions together with the administrative leaders or can resist administrative leadership. In other words, the adaptive leadership may cooperate with administrative leadership with a view to augmenting its strategies or it can resist administrative leadership or it can function as an independent arm of the organization (Uhl-Bien et al 2007). What emerges is Network dynamics which refers to the â€Å"contexts and mechanisms that enable adaptive leadership ((Uhl-Bien et al 2007, p. 307). What occurs is an â€Å"interactive ambiance† in which complicated â€Å"dynamics occur† accompanied by patterned conduct the â€Å"produce complex outcomes† (Uhl-Bien et al

The Theories Of Motivation Psychology Essay

The Theories Of Motivation Psychology Essay Motivation can be defined as giving a reason, incentive, enthusiasm or interest that causes a person to adopt a specific action or behavior. A simple example could be that our act of eating is motivated by hunger. We can classify motivation into two main types: Intrinsic motivation: when people do something for pleasure, importance or desire (internal) Extrinsic motivation: when external factors motivate a person to adopt a certain act or behavior(external) (Lionel, 1994) Theories of motivation: Incentive theory: A tangible or an intangible reward is given after the occurrence of an action/behavior with the intention of causing the behavior/action to occur again. Some studies show that if the reward is given quickly, the effect is greater than if the incentive is given after increased passage of time. This repetitive action-reward combination makes the specific behavior a habit.(Robert, 1995) This theory is promoted by many famous behavioral psychologists such as B.F.Skinner and emphasizes that if actions are positively received, people are more likely to carry them on again and again while if they are negatively received, people avoid carrying out those acts/behaviors again. Incentive theory differentiates itself from other theories such as drive theory in terms of behaviorism in such a way that it involves positive reinforcement i.e the act is reinforced to make the person happy and encourage him to carry it on again for example a person knows that eating food or drinking water will make him satisfied and happy, while in the drive theory, use of negative reinforcement is made i.e the stimulus has been associated with the removal of the punishment for example a person knows that when he will consume food if he is hungry, it will eliminate the negative feeling of hunger.(Wilson,1992) In simpler words, incentive theory suggests that people are motivated to do things because of external rewards. Behavioral concepts such as association and reinforcement play an important role in this theory of motivation.(Wilson, 1992) Drive reduction theory: This theory emphasizes that people have certain biological needs or drives (example hunger, sleep and sex) and as the time passes, the strength of the desire increases if it is not fulfilled or satisfied. Upon satisfying the drive, the strength is reduced and the organism returns to a state of homeostasis. In simpler words, people are motivated to carry out some actions in order to reduce the internal tension caused by unmet needs. An example of application of this theory is that when you drink a glass of water to reduce the internal state of thirst. Another example is if we were hot, we would seek for a shade, this seeking for shade and drinking glass of water is an example of drive reducing behavior. The problem however, faced with this theory is that the drives are not always, purely motivated by physiological needs. For example, a person may smell freshly baked bread and want to eat it although he has already done his breakfast little time ago. In this case the drive hunger is not motivating him to do this action but he is just eating the bread because he is attracted to the smell and he knows that a freshly baked bread tastes very good.(Lepper, 1995) Maslows theory of hierarchy of motives: Maslow emphasized that once our basic needs, which ensure our survival are met, our attention is diverted to our relationship with others, self esteem and fulfilling personal potential. (Maslow, 1970) Physiological needs are the first needs (hunger, sex etc) that need to be satisfied. Safety needs are listed as second needs and these mainly mean the feelings of security that the world is a safe placefor an individual to live. Belongingness and love needs are listed as third most important need which refer to being loved by others and accepted so that the individual can also give love to others. Esteem need is the fourth most important need. This means that a person has feelings of his self esteem which can be achieved through receiving respect from other people and recognition. Self actualization refers to reaching ones own unique potential. The final need is to find a meaning in the world beyond ones self or self transcendence.(Whyte, 1980) This hierarchy of needs is drawn in a shape of pyramid with the most important need starting from the bottom: Arousal theory of motivation: This theory suggests that people carry out some specific actions in order to increase or decrease their levels of arousal. More clearly we can say, that this theory motivates us in order to maintain our arousal level at an optimum point, not below it, not higher. A clear example of application of this theory could be when the arousal levels gets below the optimum point, the person may go to watch a movie or go for a jog. This is likely to boost up his arousal level. Similarly, if the arousal level gets high, the person is likely to seek ways in which he can bring it down, i.e ways that make him relax such as meditating or reading a book.in monkeys, curiosity motivates them how to open a latch door or a window. (butler, 1954). This theory is very popular both in the field of psychology or physiology. It was originated by Lindsley. According to him, too little stimulation can cause a person to get bored while too high level of stimulation can cause anxiety, which results in sensation seeking. Such sensation seekers are more impulsive and likely to participate in risky behavior. Impulsivity refers to inability of a person to judge the consequences of a risky action he is going to perform. Such impulsive people might not be able to correctly process cognitive information.(lynam and miller, 2004) Instinct theory of motivation: In accordance with this theory, people behave in specific way because they are evolutionarily programmed to. People do not actually learn to behave like that, it is an inborn behavior. A clear example of such a behavior is the migrations that occur in animals world.(forbes,2011) William james created a list of instincts which included: Modesty love Attatchement Play Fear Anger Shyness However, the main problems faced by this theory were that it did not explain behavior, but just described. It described the effect of genetics and heresity on human behavior. Most of our behaviors are not unlearned and thus, these instincts are not likely to motivate us. According to Sigmund freud, human behavior is driven by two biological instincts: eros and thenatos, the life instinct and the death instinct respectively. The life instinct includes sexual motivation, the death instinct includes aggression motivation. He suggested that people should handle these aggressive instincts carefully and non-violently by engaging in competitive activities.(steven,2002) William mcdougal also pioneered an instinct theory, in his theory, instincts compose of three parts; perception, behavior and emotion. Humans have perceptual predisposition to focus on stimuli that are important to his goals. Humans have the drive and energy called the emotional core between perception of the goal and the movement towards it. Mcdougal listed 17 instincts including: Hunger Rejection of particular substances Curiosity Escape Pugnacity Sex Maternal/paternal instinct Gregariousness Self-assertion Submission Construction Acquisition Crying Laughter Comfort Rest Migration (steven,2002) Cognitive evaluation theory: This theory suggests that there are actually two types of motivation; intrinsic and extrinsic which correspond to two types of motivators: Intrinsic motivators; that come from actual performance of the task e.g achievement, responsibility and competence Extrinsic motivators; that come from a persons environment or controlled by others e.g pay, promotion, feedback and working conditions. Any of these could be a more power motivator for an individual.(Lepper,1995) Intrinsically motivated people perform mainly for their own satisfaction and achievement.if they start to believe that they are working for pay or work conditions or for any other extrinsic reason, they begin to lose motivation. It emphasizes that powerful extrinsic motivators can decrease a persons intrinsic motivation, especially if the extrinsic motivators are believed to be controlled by others by the individual.(Lepper, 1995) Hezbergs two factor theory: According to hezberg, two kinds of factors are likely to affect motivation, and they do it in different ways: Hygiene factors: if these are absent, an individual is motivated. However, their presence has no perceived effect. These are the things that when u take away from a person, he gets dissatisfied and tries to take them back. Examples include decent working conditions, pay, security, company policies and interpersonal relationships. Motivators: these are factors whose presence motivates. Their absence does not cause dissatisfaction but just fails to motivate people. We can say that hygiene factors cause dissatisfaction while motivators cause satisfaction. The two scales are independent and one can be high on either or both.(Piers, 2007) MEASUREMENT OF MOTIVATION Measurement of motivation can be classified into two types: Measurement of social drives Measurement of biological drives (Chavajay, 2002) Measurement of social drives can be done through the following ways: Personality questionnaire Projective techniques Situational tests Observation Interviews 1-personaity questionnaire: in these questionnares, subjects are asked as to how will they respond to certain situations or conditions. Various tests are used in these questionnares such as interest inventory, Minnesota multiphase personality inventory and California psychological inventory. (Chavajay,2002) 2-projective techniques: these present simple and ambiguous stimuli that allow the subject to respond with projection of both sexes in their personality. These tests are conducted by showing abstract pictures, writing stories to subjects and include other tests like Rorschach inkblot test and Thematic Apperception Test. Psychologists have experienced that these tests can provide valuable insight into ones personality. However, it is easy to misinterpret the responses and an inexperienced tester can misuse the information that is collected. Projective tests are also known as objective tests. 3-situational tests: social drive or affiliation can be measured by giving a person choice between waiting in a need to achieve or the need to affiliate with others such as drives for works, compliance drives, social approval drives, self actualization drives. 4-observation: observation can be defined as watching an individuals behavior over a period of time. It can be done in natural environment or in clinical settings. Through observation, psychologists also try to know about behavioral problems. 5-interviews: its a way to gather information face to face from the person who is being evaluated. A successive interview is that in which the interviewee is made to talk openly about his feelings, drives and experiences.(Chavajay,2002) Measurement of biological drives can be done through following ways: Speed of learning of individual Preferences shown by an individual when given choices between more than one goal Rate of response of an individual Amount of obstruction required to prevent the animal from reaching a goal Action of nervous system Amplitude of a response Gross motor activity of an individual The stimuli presented can be varied and can be internal or external. (Chavajay, 2002) LISTS OF PRIMARY AND SECONDARY MOTIVES Primary motives are also known as biological moitves have a definite physiological basis and are biologically important for an individuals survival. These arouse the behavior of an organism in directions that lead to a change in the internal environment. Sources of biological motivational needs include increase/decrease simulation, activate senses, decrease hunger, thirst, discomfort and maintaining homeostasis, balance. (Harter, 2011) The primary motives consist of: Hunger Thirst Pain Sexual drive Air or need for respiration Fatigue Sleep Maternal drive Secondary motives are individualistic in nature as they are related to self esteem, self exhibition, self security, self freedom and self assertion. These are also known as psychological motives and are very important in the development of an individuals behavior and personality.(Harter, 2011) The secondary motives include: Need for affiliation Need for approval Need for achievement Need for security Curiosity motive Competence motive Power motive Aggression motive Self actualization (Harter, 2011)

Joan Miró Essay -- Visual Arts Paintings Art

Joan Mirà ³ Spanish painter, whose surrealist works, with their subject matter drawn from the realm of memory and imaginative fantasy, are some of the most original of the 20th century. Mirà ³ was born April 20, 1893, in Barcelona and studied at the Barcelona School of Fine Arts and the Academia Galà ­. His work before 1920 shows wide-ranging influences, including the bright colors of the Fauves, the broken forms of cubism, and the powerful, flat two-dimensionality of Catalan folk art and Romanesque church frescoes of his native Spain. He moved to Paris in 1920, where, under the influence of surrealist poets and writers, he evolved his mature style. Mirà ³ drew on memory, fantasy, and the irrational to create works of art that are visual analogues of surrealist poetry. These dreamlike visions, such as Harlequin's Carnival or Dutch Interior, often have a whimsical or humorous quality, containing images of playfully distorted animal forms, twisted organic shapes, and odd geometric constructions. The forms of his paintings are organized against flat neutral backgrounds and are painted in a limited range of bright colors, especially blue, red, yellow, green, and black. Amorphous amoebic shapes alternate with sharply drawn lines, spots, and curlicues, all positioned on the canvas with seeming nonchalance. Mirà ³ later produced highly generalized, ethereal works in which his organic forms and figures are reduced to abstract spots, lines, and bursts of colors. ...

Comparing Oedipus and Prufrock

Everyone has at least one personal flaw that somehow overcomes or defeats them in a certain place in time. In this essay, two characters of completely different fields will be put side by side to compare their own tragic flaws. On one hand, Sophocles’ Oedipus is proud, arrogant and persistent; while on the other hand, Eliot’s Prufrock is self conscious, insecure, and indecisive. While the two characters are complete polar opposites, they also share a devastating similarity: they are paranoid and in fear of their own fate. Oedipus’ personality is clearly conveyed as having excessive pride and determination throughout the play.He first travels far from Corinth to prevent an oracle’s prediction that he would kill his father and marry his mother. He arrives in Thebes where the people were distressed over the Sphinx’s riddle. Oedipus then sets his mind on solving this riddle in which he succeeds and is awarded the throne to Thebes. This should have been a huge boost of confidence for a man who was worried he would be cursed for the rest of his life. He serves as a loyal King for his people, seeming to want to do the right thing for Thebes, but talks with such a conceited attitude.In the play, right after receiving news that the preceding king’s killer is residing in Thebes, Oedipus states â€Å"Well, I will start afresh and once again make dark things clear. Right worthy the concern of Phoebus, worthy thine too, for the dead; I also, as is meet, will lend my aid to avenge this wrong to Thebes and to the God† (Sophocles). With both assurance and superiority in his voice, Oedipus throws it in Thebes face that he has saved them once before, and will do it again by bringing Laius’ killer to justice. He sets out on finding the person that murdered King Laius and puts all of his energy, pride, and persistence into it.He acts as a great detective and follows each clue diligently. This helps the play revolve around the question of solving a crime (Rix). By putting together the pieces of the murder mystery, he finally begins to questions himself about his involvement in the assassination and even his own fate. Sophocles’ Oedipus pursues self-knowledge and at the same time resists it because it may connect him with his past (Morgenstern). He eventually finds out that he is indeed his father’s killer and his mother’s husband. Oedipus’ tragic flaws of hubris and determination lead him to blind himself and be exiled just as e said would happen to the murderer if he was found. Unlike Oedipus, the character in T. S. Eliot’s â€Å"Love Song of J. Alfred Prufrock† is timid, insecure and indecisive. Throughout the poem, Prufrock is faced with a decision to approach a woman he has developed a liking to, or remain looking out a lonely window drowning his self consciousness in an ocean of self doubt. He wants to ask her the overwhelming question, but instead he purpos efully avoids the woman by having personal detour conversations with himself about his self image. The entire poem is laced with Prufrock asking himself questions.He asks â€Å"Do I dare disturb the universe? †(Eliot) as if the whole world will come crashing down if he simply talks to her. He wants to wait for the right time, but in the same thought, he knows his years are running out; he mentions his bald spot and thin arms. Prufrock is so consumed with himself and how others might portray or judge him, that it is paralyzing him from social activities and gatherings. He is going through a mid life crisis that he may have brought on himself by leading an unproductive, bland life and his lack of determination and will to change that life may lead him into his fear of being lonely forever.Prufrock is essentially intimidated by women or people in general because he is ashamed of his personal appearance and monotony. One side of his personality believes in the possibility of havi ng a relationship but the side of his self doubt and pity shackles him from living the life he is clearly screaming out for (Blythe). Towards the end of the poem, he realizes that he will never summon up the courage to talk to the person he admires. He gives up on himself and becomes aware that he has wasted his life asking himself if he should do the things he wanted to do instead of putting his plans to action.Where Oedipus is without a doubt expeditious, stern and decisive in his promises, J. Alfred Prufrock is deficient by being obsessed with taking his time, indifferent and unable to make a simple choice even for himself. However both of these characters share a haunting similarity of fearing the realization that their lives have finally come to a particular point they have been attempting to prevent their whole life. Sometimes life presents a person with a deficiency in personality which becomes highlighted in the spotlight while trying to correct that specific trait.In the Ca se of Oedipus and Prufrock, their own life flaws are over exaggerated and yet still overcorrected, in which they remain troubled with the things they hate about themselves. The two characters failed to avert a lingering curse which had been following them throughout, eventually sealing their fate with their own personal flaws. Works Cited Blithe, Hal and Sweet, Charlie. â€Å"Eliot’s THE LOVE SONG OF J. ALFRED PRUFROCK. † The Explicator 62. 2 (2004): 108-110. Literary Reference Center Plus. Web. Eliot, T. S. â€Å"The Love Song of J. Alfred Prufrock. The Norton Introduction to Literature: Shorter Tenth Edition. Eds. Allison Booth and Kelly J. Mays. New York: Norton, 2010. 1015-1019. Print. Morgenstern, Naomi. â€Å"The Oedipus Complex Made Simple. † University Of Toronto Quarterly 72. 4 (2003): 777-788. Literary Reference Center Plus. Web. Rix, Robert W. â€Å"Was Oedipus Framed? † Orbis Litterarium 54. 2 (1999): 134. Literary Reference Center Plus. Web. Sophocles. Oedipus the King. The Norton Introduction to Literature: Shorter Tenth Edition. Eds. Allison Booth and Kelly J. Mays. New York: Norton, 2010.

The Role of Relative Isolation in the African Continent

The concept of relative isolation when talking about the African continent is determined by the cultures and the way the people lived in this time. Relative isolation played a major role in the diversity of the cultures on the African continent. When certain things went wrong in these societies, they had to adapt and change what they were doing to make it work and not get killed off or wiped out as a whole. As said in our lecture, people create labor, which creates surplus. Then when there is surplus (food) in the society, then this creates specialists.All of these things occur when things are going well for the people. But this was not always the case. This relative isolation also caused many problems for these societies and civilizations. When these people were isolated as they were, it makes it very difficult for them to escape things that happened at these times like climate change and many diseases, such as Malaria and malnutrition. This occurred on both a macro and micro level. On a micro level of relative isolation, such as smaller civilizations, problems such as disease and malnutrition were reoccurring issues.But relative isolation was not always a bad thing for these smaller civilizations and societies. It helped them become stationary with a certain group of people that they would eventually build cultures around consisting of customs and laws, as stated in the lecture. The more people and labor they had, the more food they had. This seems like a good plan in theory, but when a severe climate change occurs and they lose crops, or a disease comes through and kills half of their civilization, it is very difficult for them to escape these deadly problems and thrive as a whole.When they are all isolated in a small area, it is virtually impossible to prevent things like that from happening. It is also very difficult when these things occur, and the people left have to migrate as a whole. For example, as stated in Civilizations of Black Africa, â€Å"It h as very often happened in Africa that a society migrates, and moves, for example from the forest to the savanna. † It happened often to these societies and sometimes they were not able to thrive in the new environment like they once were. On a macro level of relative isolation, the African continent is isolated geographically and because of its climate.The seas and deserts around them did not allow them to expand and learn the ways of other thriving cultures and societies. The climate also added to the isolation because of the heavy rainfall. Many places were not suited for the crops they needed. More and more people were coming about, and not enough food was being made. These factors, as well as diseases made the African continent relatively isolated. Diseases were frequent, food was scarce at times, and the climate was incredibly hard to deal with when it came to trying to provide for your civilization.

its high time for hemp essays

it's high time for hemp essays The hemp plant is arguably the most useful crop in the world. There are over 25, 000 products made from hemp and it can be grown in a wide variety of climates. So how can such a useful plant be outlawed in America? Ignorance is how. People automatically connect hemp with its controversial cousin, marijuana. The truth is the differences between marijuana and hemp are very distinct. Hemp and marijuana are both variations of the cannabis plant. The quality that separates the two is the Tetra Hydro Cannabinol (THC) content. Hemp has less than 1% THC, while marijuana has 20-30%. This is because marijuana was specifically cultivated to have a high THC content. The amount of THC in hemp is so small that it would take dozens of pounds of it to even have a small affect on a person. It is humanly impossible to use hemp as a drug. One concern that many people have about the legalization of hemp is that they believe marijuana could easily be hidden in a field of hemp. This is not true for many reasons. First, the two plants are easily distinguished. Marijuana plants are short and bushy with many leaves and is harvested for its flowers and leaves. Hemp, however, is tall and straight, with leaves at the top of the plant and is harvested for its stalks before flowering even occurs. Another problem with disguising marijuana in a hemp field is that the two plants would crossbreed which eliminates nearly all of the THC content in marijuana plants. Third, in Canada, where hemp farming is legal, the farmers have to get a special license to grow and the crop is checked annually for THC content. If we enforced this in America, there would be little to no marijuana problems at hemp farms. Hemp has a great deal of history in our country also. Many well-known historical figures farmed the plant and encouraged farming of it. George Washington, Thomas Jefferson, and Abraham Lincoln were all hemp-enthusiasts. Most of the sails and rope...

John Quincy Adams Essays (1590 words) - Adams Family, Free Essays

John Quincy Adams Essays (1590 words) - Adams Family, Free Essays John Quincy Adams John Quincy Adams was the only son of a president to become president. He had an impressive political background that began at the age of fourteen. He was an intelligent and industrious individual. He was a man of strong character and high principles. By all account, his presidency should have been a huge success, yet it wasn't. John Quincy Adams' presidency was frustrating and judged a failure because of the scandal, attached to his election, the pettiness of his political rivals, and his strong character. John Quincy Adams was born on July 1767, in Braintree Massachusetts. His parents were John and Abigail Adams. Quincy, had every advantage as a youngster. At the time of his birth, his father was an increasingly admired and prospering lawyer, and his mother Abigail Smith Adams, was the daughter of an esteemed minister, whose wife's family combined two prestigious and influential lines, the Nortons and the Quincys. Accompanying his father on diplomatic missions in Europe, young John Quincy Adams received a splendid education at private schools in Paris, Leiden, and Amsterdam, early developing his penchant for omnivorous reading. He was able to speak several languages. At the age of fourteen, he was asked to serve as secretary and translator to Francis Dana, the first US ambassador to Russia. Despite his age, young Adams was a valuable aid to the consul; he enjoyed Russia and the exposure to diplomatic circles. He later returned to the United States and attended Harvard. He graduated in two years and entered the law offices of Theophilus Parsons in Newburyport, Massachusetts. Passing the bar in 1790, he set up practice in Boston. In 1794 John began his long political career. George Washington appointed John Quincy Adams an Ambassador to the Netherlands. After his father was elected as the second president of the United States, he was reassigned to the post of minister to Prussia. He kept this post throughout his fathers term of office. After his fathers defeat to Thomas Jefferson he returned home. In 1802 he was elected to the Massachusetts senate, which sent him to the U. S senate the following year. He was also appointed to the Supreme Court, a membership he declined. President James Madison then appointed him to minister to Russia in 1809. He continued to serve his country and gained a well-respected reputation. Adding to his reputation was his brilliant and tough-minded performance as chief American peace commissioner in the negotiations at Gent that ended the War of 1812 and his effectiveness as minister to Great Britain during the last two years of the Madison administration. He continued to distinguish himself by negotiating a treaty with Spain. The Adams-Onis Treaty with Spain, concluded with Spain on February 22, 1819. Provided for the transfer of East and West Florida to the United States and the establishment of a border between Spanish and US territory running from the Gulf of Mexico to the Rocky Mountains and along the forty- second parallel to the Pacific ocean. Historians regard the treaty as a brilliant act of diplomacy, and Adams himself called its conclusion the most important event of my life. Many historians give credit to Adams for his contributions to the Monroe Doctrine. Adams also was the mind behind the Monroe Doctrine, which warned that the United States would oppose any European interference in the internal affairs of an American nation or further European colonization of territory in the Western Hemisphere. There was no doubt that Adams was a deserving candidate for the presidential election of 1824. He had held high diplomatic positions and displayed both aptitude and ability. He wanted to be President, but although Adams was the most distinguished member of the Monroe Cabinet, his successes were somewhat neutralized by his lack of friends and organizational backing He had also earned himself a reputation of being stubborn and unflexable. He had no problems speaking out against issues he felt were unjust. He also spoke out against his own political party. The son of a leading Federalist Party, Adams proved to be anything but a slavish devotee to that political cause. When he thought the party was in the wrong, he stood ready to oppose it. In fact,

10 Words That Dont Mean What You May Think They Do

10 Words That Dont Mean What You May Think They Do 10 Words That Don’t Mean What You May Think They Do 10 Words That Don’t Mean What You May Think They Do By Mark Nichol As English evolves, word meanings shift and turn, sometimes reversing themselves altogether. These ten words have shifted their senses over the years. In some cases, we are wise to likewise be flexible; in others, we relax our vocabulary at the expense of useful distinctions: 1. Decimate The literal meaning of this word, as all you lovers of Latin (not to be confused with Latin lovers) know all too well, is â€Å"to reduce by one-tenth,† supposedly from the punitive custom of selecting one out of ten captives by lot and killing those so selected. But the senses for this rhadamanthine Roman policy have proliferated, so that now it means â€Å"tithed,† â€Å"drastically reduced,† or â€Å"destroyed† as well. 2. Disinterested Commonly employed to mean â€Å"not interested,† disinterested has a precise, useful meaning of â€Å"neutral, unbiased.† 3. Enormity Some people would reserve this word to mean â€Å"monstrously wicked,† but, in truth, it is properly invoked to refer to anything overwhelming or an unexpected event of great magnitude, and thus it need not be invariably corrected to enormousness except when it is clearly in reference to a loathsome occurrence. Refrain, however, from diluting the word’s impact in such usage as â€Å"The enormity of the new stadium struck them as they approached the towering entrance.† 4. Fortuitous This word means â€Å"occurring by chance,† but its resemblance to fortune has given it an adopted sense of â€Å"lucky.† For meticulous adherence to the traditional meaning, use fortuitous only in the sense indicated in this sentence: â€Å"His arrival at that moment was fortuitous, because her note had not specified the exact time of her departure.† Nothing in the context qualifies his arrival as fortunate; the sentence merely states that he arrived in time without knowing that he would do so. The informal meaning is expressed here: â€Å"His fortuitous arrival at that very moment enabled him to intercept the incriminating letter.† In this sentence, the time of his appearance is identified as a lucky stroke. 5. Fulsome This term originally meant â€Å"abundant, generous, full,† but that sense was rendered obsolete when the word acquired a negative connotation of â€Å"offensive, excessive, effusive.† Conservative descriptivists rail against the use of fulsome in a positive sense, but the cold, hard fact is that this sense has been increasingly resurgent for many years, and the adulatory meaning is now much more common than the condemnatory one. If you wish to stand fast before the tsunami of inevitability, be my guest, but fulsome as an exquisite insult has been consigned to the dustbin of history. Some commentators recommend that because of the word’s ambiguity, it’s best to avoid its use altogether. If you insist, make sure the context is clear. 6. Ironic The impact of ironic has been diluted because many people use it to mean â€Å"coincidental,† when its traditional definition is â€Å"counter to expectations or what is appropriate.† 7. Literally Some folks get exercised when this term is used in place of its antonym, figuratively. However, in a hyperbolic sense, that meaning is justified. Unfortunately, that sense is literally overused. 8. Notorious This term is occasionally used in a neutral sense, but that’s not an error, but the word literally means â€Å"known.† However, its dominant connotation is that the fame is a result of infamy. 9. Peruse This victim of definition reversal literally means â€Å"to use thoroughly,† and its first sense is that of careful steady or attentive reading. However, many writers (myself included) have employed it as a synonym for scan enough writers, as a matter of fact, that its second sense is â€Å"to look over or through in a casual or cursory manner. Unfortunately, these mirror meanings mean that if you use the word, I advise you to support it with context that clarifies the intended sense. 10. Plethora Plethora originally referred to an excess of something, but that usage is rare now, and more often the sense is simply of abundance. The medical meaning of swelling caused by an excess of blood is all but unknown. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:7 Types of Narrative ConflictThat vs. WhichHow to Style Legislative Terms

Statement of purpose Personal Example | Topics and Well Written Essays - 250 words - 1

Of purpose - Personal Statement Example onjunction with having pursued additional course modules on English as a Second Language at ELS Charlotte, English language at the English Language Center, and Intermediate Algebra I acknowledged that in contemporary times, the role that technology plays in education is paramount. I would like to specialize on technology tools, applications, development of instructional designs that integrate technology in the fast changing contemporary learning environment, among others. I strongly believe that Utah State University accords the most effective dynamic and multi-dimensional approach that would assist in achieving my goals. As I am indebted to my home country for according me with opportunities for professional growth, I plan to apply what I would be learning in advanced knowledge, skills, and competencies to educational institutions in my home country; where I plan to teach in post-secondary or undergraduate levels. I am confident that the wealth of diverse learning that would be generated from Utah State University would enable me to be an instrumental contributor to the growths and developments of students who would be under my direct tutelage; and more so, on the educational institutions that I plan to propose improvements in the learning

Information Systems and Processing Controls Assignment

Information Systems and Processing Controls - Assignment Example Moreover, they provide balances and checks that are only spotted on calculation errors in the business books, and the also the mismatched entry of items. According to Tyler (2013) found out that audit software aided the auditor in generating models and simulations that are of help to study the financial approach of the business, and how it can be restructured. In addition, the auditor can also use the model to judge the potential risk that is posed by the current system. The computer-assisted audits lead to increased accuracy of the audit results by reducing the overall time spent on transactions. It also lessens disruption to business activities by reducing the amount of documentation you need to retrieve, thereby saving your time and money. Tyler (2013) asserted that the program audit performed a wide variety of tasks like recalling calculated interest from invoices; analytical procedures; testing the configuration of the operating system; re-performing the calculations that have been done by the accounting systems entity. Subsequent advantages are; there are long-term economies, it reads the actual records, deals with large volumes of transactions. The schedules and reports that have been generated by the computer are more objective and professional thus enhancing communication of data. According to Wavomba (2010) reported that the organization gains assurance regarding the accuracy of the transactional data and the extent to which the business transactions adhere to controls and comply with policies. The consisted use of the automated transaction analysis and continuous monitoring enables real-time independent testing and validation of critical data. To sum up, it improves management of auditing procedures. Integrated test facility package is a quality control responsibility that utilizes, monitors, and controls the dummy test data through existing programs and checks the existence and adequacy of  program data entry controls and processing controls (Koch, 2009).  

Battle οf Leyte Gulf Essay Example | Topics and Well Written Essays - 1250 words

Battle ÃŽ ¿f Leyte Gulf - Essay Example The Japanese lost four carriers, three battle ships, six cruisers, together with up to 10000 sailors and number f trained pilots19. The main objective to capture this island was to have an advanced base for the final assault on southern Japan. The American Army and Marines landed at Okinawa on April 1, 1945. The Japanese opened a furious aerial counterattack, which included more than 350 Kamikaze attacks against U.S. ships and ground forces. Consequently, on April 8, 1945 the Allied Air Force began a campaign to destroy the Kamikaze bases in Japan. (Westphal Jr 267-268) However, the enemy attack continued in its intensity and by June 22, about 1,900 suicide planes had struck against Allied forces at Okinawa, sinking 25 ships. All the Kamikaze attack caused extraordinary Allied casualties. The Japanese did not have enough resources left for suicidal attack at the Okinawa bridgehead. The Japanese lost 7800 ac against 763 f allies in Leyte operation20. The good coordination f the joint forces as well as the combined forces was very critical to the allied victory. This could be possible because f the good command and control structure under the able leadership f Gen Macarthur. (Coles 576-577) The Strategic air offensive against Japan by B-29 had been going on for months. The Boeing B-29 Superfortress had been introduced into service in 1944. A successor f B-17, it had a much greater range and payload and a pressurized cabin that allowed it to fly over 30,000 feet. It was heavily armed with remote controlled gun. The new Twentieth Bomber Command was shifted from China and based in the Marianas. Attacks on Japan began on June 14, 194521. Initially the B-29s used to attack the Japanese cities by dropping incendiary bombs. After four month f saturation bombing, Japan had hardly any target left to attack except Hiroshima and Nagasaki22. The U.S political leaders wanted Japan's unconditional surrender. But Japanese had been asking for preservation f monarchy. On 26 July 1945, the western powers issued a final warning and surrender demand to Japan. U.S leadership agreed that if the Japanese refused to accept the unconditional surrender the Atomic Bomb must be used. The Atom Bomb Attack. On 25 July 1945, the Strategic Air Command in the Pacific was ordered to launch the atomic attacks any time after 3rd August. One f the scientists f nuclear weapon test committee, Stimson opined that, the atom bomb should be used in a surprise attack on an important war installation surrounded by housing. A specially trained B-29 group, with planes modified to carry the atom bomb, was based on Tinian. On the morning f August 6, a B-29 dropped a uranium bomb on Hiroshima with a power equivalent to 14,000 tons f TNT. On 09 July 1945, another B-29, being unable to hit Kokura, its primary target, dropped a plutonium bomb on Nagasaki. The Americans would have had a third atomic attack by August 15, but on August 10, President Truman ruled that no more bombs be used until further notice. On August 15, Japan announced its surrender. But final

The Fisher King and Lost in Translation Essay Example | Topics and Well Written Essays - 1250 words

The Fisher King and Lost in Translation - Essay Example According to the research findings, it can, therefore, be said that in the movie ‘Fisher King’ sound is at the heart of the story of Jack Lucas, who was a radio personality. As a radio personality, he connected with his audience via sound. Sound and music were the vehicles with which he propelled his radio career. At the start of the movie, we see Jack using canned sounds in order to stage his show, to cue his callers and to basically project a kind of online personality that was intelligent, quick thinking, and generally upbeat. The use of certain tracks such as ‘Hit the Road Jack’ seems handpicked to convey a kind of carefree attitude, and it is unfortunate that this carefree attitude also resulted in Jack giving a piece of advice that he did not reflect much about, but which led to the caller translating what Jack said literally and open-firing on a crowd in a yuppie restaurant. It turns out that Robin Williams was there with his wife, and it was because of Jack’s advice that Robin Williams’ wife was killed by gunfire. Here the diegetic sounds at the beginning are canned but very relevant to the story. One can see too that the lyrics to the song ‘Hit the Road Jack’ seem in hindsight to have been a premonition of things to come for the man. He would literally hit the road after being traumatized by the shooting in the restaurant, realizing that is was his advice on the radio that led the man to commit the crime. He had been undone by a sense of guilt and went on a downward spiral. In a later scene, with Jack trying to get Parry hooked up with Lydia, the movie again resorts to this diegetic formula in the form of Jack staging a â€Å"radio show†-like audio atmosphere to get Lydia to sign up to Anne’s video service. Again here the diegetic elements are orchestrated to reinforce the fundamental messages and themes of the story, of Jack using a radio show atmosphere to redeem himself from the rest aurant massacre that he believed he had a part in, by coaxing the caller/murderer with ill-conceived nonchalant advice. The radio show formula is the key diegetic element in this part of the movie.

The Big Bang Theory Essay Example | Topics and Well Written Essays - 750 words

The Big Bang Theory - Essay Example The big bang theory is yet another one of its kind that seeks to explain the origin of life and the existence of matter and the whole universe. The Big Bang theory is built on the foundation that in the very beginning, estimated like fifteen billion of years ago, the universe was in an infinite form. Nothing was in existence other than the plasma soup. Now, all the energy and the matter were compressed in just one place. Then (Hawking and Ellis 213), a tremendous explosion occurred, that kicked off the process of expanding the universe that forced the universe to take a definite shape. As a result, of this explosion, all particles of matter that were broken into extremely tiny microscopic particles were thrown about, away such that no any single one was close to each other (Hawking & Ellis 215). Thus, from when the big bang occurred, there has been an expansion of the universe endlessly in all directions, thus moving the galaxies to their present day position. The theory asserts that the universe was too hot in the subsequent period following the explosion. Thereafter, all the particles that were thrown all over began to cool down. The cooling down of these particles eventually started the long process of forming matter, by crumpling to each other. As the cooling process continued, it created a conducive environment for the matter to mature. The matter so formed started to decay, as the universe expansion continued. They eventually formed up the composite particles, commonly known protons, neutrons and electrons (Eastman and Missler 112). The composite particles, soon after, started reacting with each other, forming the hydrogen isotope. These are the basis of life, as we know it today. However, many misconceptions relate to this theory. While there is an argument that a massive explosion took place that sent off different particles of matter that are the beginning of life, there is also a counter argument that no actual explosions took place. The proponents of this view (Hawking & Ellis) argue that a series of endless expansion took place. According to them, the expansion created more space and altered the temperatures that initially existed in the universe. This change of temperatures allowed the cooling down of particles, thus creating a desirable condition for the elements of life to thrive. Another counter argument is that (Eastman and Missler 116), at the very beginning, space did not exist. It has developed over time, as does the rest of matter. With such a view, then we cannot know where the energy, matter and the plasma soup existed. The causes of this theory are highlighted by certain underlying opinions (Andreeva 24). First, there is a thought that the universe must have had a beginning (Eastman and Missler 118). Whichever it was, it is not satisfactorily put across. This only serves to seek an explanation for this beginning. Another reason for the establishment of this theory is the fact that the galaxies seems to keep moving away, a clear suggestion that the expansion of the universe does happen. That the elements of life, hydrogen and helium, are found in the universe further needs an explanation (Hawking and Ellis 230), that the big bang theory has sought to provide. The theory also stems from the ideology that some heat residuals should have remained in the universe. This is supported by the discovery of the cosmic microwave that occurred in 1965 (Eastman and Miss

India taj mahal mumbai terror Essay Example | Topics and Well Written Essays - 1250 words

India taj mahal mumbai terror - Essay Example The terrorists were reportedly seized an Indian boat from a fisherman after killing him to reach Mumbai. Moreover, they started their hotel operations after killing the Mumbai police chiefs who tried to block them. Even though many reasons were cited as the reasons for this attack, the major reason is believed to the destruction of the Muslim Mosque Babri Masjid by certain Hindu fundamentalists few years before. Moreover, Pakistani terrorist groups believe that the Indian frontier state Kashmir is part of Pakistan and India possesses it illegally. India and Pakistan engaged in two wars after the independence and the enmity between these two countries is a major threat for peace in South Asia. This paper briefly explains the Mumbai terrorist attack with the help of its cause and effect, culprits, possible prevention strategies etc BBC News (23 Nov 2009) has reported that the religious site where the Babri mosque was destroyed in 1992 in the northern Indian town of Ayodhya has been a flashpoint between Hindus and Muslims for years. India’s relationships with Pakistan have damaged a lot because of the destruction of Muslim Mosque Babri Masjid by certain Hindu fundamentalists. Hindu fundamentalists in India believe that the Babri Masjid was situated at their God Ram’s birth place, Ayodhya and former Mughal King Baber has captured that place and constructed the mosque without the permission from the Hindus. So they believe that Ram’s birth place is a sacred place and a temple should be constructed in that place for worshipping their God Ram. The result was the destruction of the existing mosque in 1992. The effect of the Babri Masjid was not visible immediately. Even thought the Muslim people all over the world were agitated by this act, most of them suppressed their displeasure at that time. India’s image as a secular democratic state in the eyes of the external world has severely damaged because of the above incident. Muslim

The Big Bang Theory Essay Example | Topics and Well Written Essays - 750 words

The Big Bang Theory - Essay Example The big bang theory is yet another one of its kind that seeks to explain the origin of life and the existence of matter and the whole universe. The Big Bang theory is built on the foundation that in the very beginning, estimated like fifteen billion of years ago, the universe was in an infinite form. Nothing was in existence other than the plasma soup. Now, all the energy and the matter were compressed in just one place. Then (Hawking and Ellis 213), a tremendous explosion occurred, that kicked off the process of expanding the universe that forced the universe to take a definite shape. As a result, of this explosion, all particles of matter that were broken into extremely tiny microscopic particles were thrown about, away such that no any single one was close to each other (Hawking & Ellis 215). Thus, from when the big bang occurred, there has been an expansion of the universe endlessly in all directions, thus moving the galaxies to their present day position. The theory asserts that the universe was too hot in the subsequent period following the explosion. Thereafter, all the particles that were thrown all over began to cool down. The cooling down of these particles eventually started the long process of forming matter, by crumpling to each other. As the cooling process continued, it created a conducive environment for the matter to mature. The matter so formed started to decay, as the universe expansion continued. They eventually formed up the composite particles, commonly known protons, neutrons and electrons (Eastman and Missler 112). The composite particles, soon after, started reacting with each other, forming the hydrogen isotope. These are the basis of life, as we know it today. However, many misconceptions relate to this theory. While there is an argument that a massive explosion took place that sent off different particles of matter that are the beginning of life, there is also a counter argument that no actual explosions took place. The proponents of this view (Hawking & Ellis) argue that a series of endless expansion took place. According to them, the expansion created more space and altered the temperatures that initially existed in the universe. This change of temperatures allowed the cooling down of particles, thus creating a desirable condition for the elements of life to thrive. Another counter argument is that (Eastman and Missler 116), at the very beginning, space did not exist. It has developed over time, as does the rest of matter. With such a view, then we cannot know where the energy, matter and the plasma soup existed. The causes of this theory are highlighted by certain underlying opinions (Andreeva 24). First, there is a thought that the universe must have had a beginning (Eastman and Missler 118). Whichever it was, it is not satisfactorily put across. This only serves to seek an explanation for this beginning. Another reason for the establishment of this theory is the fact that the galaxies seems to keep moving away, a clear suggestion that the expansion of the universe does happen. That the elements of life, hydrogen and helium, are found in the universe further needs an explanation (Hawking and Ellis 230), that the big bang theory has sought to provide. The theory also stems from the ideology that some heat residuals should have remained in the universe. This is supported by the discovery of the cosmic microwave that occurred in 1965 (Eastman and Miss

Psychology and Conducive Learning Environment Essay Example for Free

Psychology and Conducive Learning Environment Essay Discipline is one of the basic requirements of a civilized life. Every society has to set certain norms for people to follow. Everything in this world is governed by a definite set of laws. If everything goes on in a definite routine and the discipline is maintained then there would not be any chaos anywhere. Discipline is the backbone of the national unity. Citizens of disciplined nations can work more smoothly and are filled with the spirit of unity, brotherhood and co-operation. However, discipline does not mean strictly, the withdrawal of personal liberty and authority: on the other hand it provides one with the guideline to use its freedom in a right manner. But that too is possible only if they do not take law in their own hands. Anywhere we go discipline is necessary in any institution whether it is an educational institution, or even in the political field, in social or religious matters, even on street and even while you are sitting in your own house. But unfortunately we note that discipline in our schools and colleges has perished. Students do not show respect to their teachers, misbehave in the classroom, organize strikes and try to take law in their hands. So an atmosphere of indiscipline is created which is a great setback not only to the individual, but to the nation also. Moreover, the teachers themselves do not show any discipline. They are also busy in strikes as to show their discontent against their pay scales, their posts and that affects their quality of teaching. Similarly discipline is an important component of political and social life. Until and unless everybody follows the rules and regulations proper satisfaction cannot be achieved. Anywhere you will find people out of their offices. Govt. employees busy in chatting, ladies busy in knitting at the hours of their duty. All workers show indifference to their duties and hence the work and unattended files keep on accumulating. So if each person imposes on himself or herself discipline and performs his or her duty with devotion, there will be no problem. Even in public places, people create chaos due to indiscipline behavior. People often show lack of law and order, while boarding buses etc. Black-marketing and hoarding and adulteration are also some of the examples of indiscipline. Eve-testing is another example of irresponsible behavior on the part of our youth. In the political sphere also, personal ambitions do come on the way and therefore they pose danger to the society. Discipline is important even in domestic life. If children are grown up in an atmosphere of love and brotherhood, they tend to be good citizens. It is the duty of parents to raise their children in an atmosphere conducive for everybody. The children from divorced parents and from broken homes are generally indiscipline. Therefore, parents should bring up their children in a disciplined manner. Discipline In School School discipline is the system of rules, punishments and behavioral strategies appropriate to the regulation of children and the maintenance of order in schools. Its aim is to create a safe and conducive learning environment in the classroom. A disciplined student is in compliance with the school rules and codes of conduct. These rules may, for example, define the expected standards of clothing, timekeeping, social behavior and work ethic. The term discipline is also applied to the punishment that is the consequence of breaking the rules. The aim of discipline is to set reasonable limits which protect students from harm and teach them what is safe and what is not. Discipline At Home Children are learning how to behave and need parents and caregivers to help them during that process. Because they are always learning, they will misbehave. Psychological studies show that behaviors are more effectively shaped by rewarding positive behaviors than by punishing negative ones. Spanking may have the short-term effect of stopping an undesired behavior, but it may have long-term consequences. Spanking by parents or others may cause harm by teaching children to use violence and by showing them that those who should love and protect them have the right to physically hurt them. The best way for parents to prevent challenging behaviors is to support positive behaviors. How can they do this? Use any opportunity as a teachable moment to talk about simple rules about behavior Put those rules into action. Follow through with praise for following instructions or consequences for disobeying. Discipline is the training of the mind and character; the exercise, development and control of the character, intended to produce obedience and orderly behavior. The definition above is apt enough for the type of discipline intended for the young people at school. The need for disciplining young people cannot be over-emphasized. A wise saying goes â€Å"Spare the rod and spoilt the child†. An undisciplined child becomes a spoil child. The disciplining does not necessarily involve the use of cane. It should normally take the form of corrections by the educators through the setting of good examples and verbal corrections. It is the repeated and deliberate tendencies to incorrigibility that should involve punishments from the educator. These punishments should also be corrective and directly related to the offence. The question then arises; who is to discipline the child, the school or the home? The unequivocal answer is both the school and the home. The efforts of these two agencies to direct the life of the child should be complementary. The all-round development of a person cannot be achieved if one of the parties withdraws its own contribution. Before a child is of school age the discipline is solely the business of the home. At that stage, a child is already in the preparatory stage of being potentially bad or good child. The mind of the new born child being so flexible has had certain impressions made on it. The child learns to act and behave mainly through imitation. These picked-up acts and behaviour which a child goes to the school will form the foundation upon which the school is to be built. Hence the school either inherits a light or a heavy job in this regard. Some schools are lucky to have under their care children who are already good natured and the school only needs to build and improve upon this good foundation. On the other hand the school may inherit other types of children who are real problems. For them â€Å"Please use a soft voice†, instead of â€Å"Stop yelling! † Discipline is a must at home and in school. So in todays society, it is very essential to live with co-operation, and brotherhood amongst each-other. Absence of discipline may lead to failure and backwardness of nation. But one can overcome these problems if everyone follows a personal code of conduct and maintain self-discipline for prosperity of the nation.

Impact of Commercial Paper in the Indian Money Market

Impact of Commercial Paper in the Indian Money Market In todays competitive environment, firms find themselves in a perpetual race to acquire the cheapest source of finance to leverage their companies and gain a competitive advantage. All this is undertaken by companies to satisfy their masters – the shareholders. Finance is a very scarce commodity. A company can satisfy its funding needs generally through two sources namely, equity and debt. It is common practice to use a mix of both in the capital structure. Further the company may rely on two sources of finance – long term sources and short term sources. Long term sources of finance typically include – Shares, debentures, venture capital, public deposits, government grants, mortgage, retained profits, loans from financial institutions, loans from commercial banks etc. Whereas, short term sources of finance include – Overdraft, trade credit, factoring, cash credit, loans advances, discounting of bills, commercial paper etc. A very interesting segment of finance to note is that of money markets. It is an important component of financial markets and is a short term market with maturity period of 1 year or less. The most common instruments traded in the money markets include –treasury bills, certificates of deposits, repurchase agreements, commercial paper (CP) etc. Commercial paper is a short-term debt instrument of the money market. It is an unsecured promissory note with a fixed maturity of 7 to 365 days. It is issued at a discount and redeemed at par. The origin of commercial paper can be traced back to the late 19th century when it grew rapidly as a source of corporate financing until 1920s when it all but disappeared during the Depression. Momentum picked up after the Second World War and a notable incident in the commercial paper market was the Penn Central  [1]  failure which shook the market and temporarily halted its growth (Calomiris, Himmelberg, Wachtel, 1994). Commercial paper as a source of short term funds to Indian corporate sector was introduced from 1990 by the then government in the process of continuing reforms. The direct objective of commercial paper was to improve the short-term liquidity. That is by releasing the pressure on bank funds for medium sized borrowers and enabling companies with high credit ratings to rais e funds directly from the markets (Reddy, 1999). Commercial paper can be further categorized into financial and nonfinancial commercial paper. Nonfinancial commercial paper is issued by nonfinancial corporations, typically large industrial or service firms and utility companies. Financial paper on the other hand is issued by financial companies such as banks (Shen, 2003). From the investors point of view, commercial paper carries with it a great many advantages like low risk due to issuance by prime rated companies, limited reinvestment risk because the commercial papers are generally issued for a short time horizon thereby protecting the investor from large interest rate fluctuations. Investors are also keen on the fact that commercial paper gives higher yields when compared to other short-term investments such as treasury bills or certificate of deposits (Standard Poors, 2008). On the flip side commercial paper is not absolutely risk free, there are certain risks attached to commercial paper – credit risk in that the company may be unable to pay the investors on maturity though this is an extremely rare event, interest rate risk which arises due to the changes in the market interest rates. This risk is mitigated because most commercial papers are issued for short term and most of the investors hold onto the paper until maturity thereby they are unaffected by price movements. Rollover risk is also present because most papers are retired by the companies by making a fresh issue. This risk is also minimized by securing a bank line of credit. The major risk facing commercial paper is liquidity risk which affects the market as a whole. The whole market turns hostile, interest rates rise and the issuer becomes unable to rollover or make fresh issues (Standard Poors, 2008). To guide the investors in making rational and informed decisions, it is mandatory for the commercial paper issue to gain a credit rating from recognized agencies. Ratings give an idea as to the risk attached to the commercial paper and the overall picture of the firm. A substandard rating implies that the firm is extremely risky and there is probability that the firm may default on its payment. In U.S., the recognized credit rating agencies include Standard Poors, Moodys, Fitch, A.M. Best etc. In the commercial paper rating mechanism practiced by Standard Poors, a rating of ‘A1+ is the highest possible score meaning that the firm is creditworthy and there is no risk of default whereas a rating of ‘A3 and below notifies that the instrument is speculative or junk. In India, Credit Rating Information Services of India Ltd. (CRISIL) and Investment Information and Credit Rating Agency of India Ltd. (ICRA) are the reputed rating agencies. The other notable agencies operating in India are FITCH ratings and Credit Analysis and Research Ltd. (CARE). According to the RBI, for a commercial paper to be issued in India the company must have a minimum credit rating of P-2 as per the CRISIL rating scale or its equivalent. Rating is extremely important as the regulations laid down specify that money market funds can invest only in commercial papers having the minimum rating of P-2. Commercial paper scores over bank line of credit or short term loans in many aspects. A company that has high credit ratings enjoys many privileges – they can access lower cost commercial paper, flexible maturity periods to match their cash flow stream. Commercial paper in essence is an unsecured promissory note. Thereby, there is no lien created on its assets. Moreover, there is no limitation on the end-use of funds generated through commercial paper issue. They are traditionally favored as they are cheaper when compared to bank loan, as low as 3.5 % for three months 5.6 to 5.75 % per year. Banks cannot match this rate since their cost of funds itself works out to almost 6% (Pathak, 2009). Money market funds are the largest holders of commercial paper (Standard Poors, 2008). The other investors in commercial paper include trust funds, retirement and pension funds, insurance companies and other large firms having extra funds to invest in them. Individual investors find it difficult to deal in this market because commercial papers are usually sold in very large denominations. To overcome this, they invest in it through money market mutual funds. In India commercial banks were the subscribers of almost 80% of all commercial paper issues but that trend has been declining and as in the U.S., mutual funds are becoming the prominent investors. The recent financial crisis affected almost all the major economies around the globe. The U.S. was the epicenter of this financial earthquake. The recession had far reaching effects many companies folded, investment houses lost their prominence and were absorbed by larger entities and banks were bailed out by the government to avert an economic disaster. The commercial paper market first felt the effects of the crisis on August 2007 when the market contracted sharply as a reaction to the subprime crisis (Shrivastava, 2008). The crisis deepened during September 2008 beginning with the default of Lehman brothers. A large money market fund, the Reserve Primary Fund announced that it had suffered losses to the tune of $785 million as a result of holding Lehman Brothers commercial paper. This spread shockwaves through the entire market and investors were in a hurry to redeem their holdings. In a space of one month the total value of commercial paper outstanding reduced by 15% from $1.76 trillion to $1.43 trillion (Kacperczyk Schnabl, 2009). The Indian economy is intimately tied to the global economy; as such any fluctuations in the global market will have repercussions in the Indian financial market also. Global financial crisis manifested itself in India on January 2008 resulting in the crash of the Indian stock market caused due to the fleeing of FIIs (foreign institutional investors). The Indian commercial sector found itself in a race to acquire funds due to the drying up of several avenues of fund notably, external commercial borrowing. To counter this, bank finance in the form of investments in shares, bonds, debentures, commercial paper etc. expanded more than the previous year (Joseph, 2009). So on a contrast with the commercial paper market of America, the commercial paper market in India was on a rise during 2007. In the U.S., the Federal Reserve undertook unprecedented steps to stabilize the commercial paper market. Federal Reserve of New York introduced the Commercial Paper Funding Facility (CPFF) whereby the Federal Reserve would buy the paper directly from eligible issuers (Federal Reserve, 2008). In early January 2009 the Federal Reserve was the single largest purchaser of commercial paper and accounted to having almost 22% of the market. The facility purchases the commercial paper and holds onto it till maturity and the returns received upon maturity are utilized to pay off Federal Reserve of New York which had provided the capital to initiate the facility. At its peak the Federal Reserve held almost $357 billion worth of commercial paper, that holding was gradually reduced over the years and at the time of the withdrawal of the facility during February 2010, the amount had dwindled down to $3.94 billion (Zumbrun, 2010). In India, the commercial paper market is extremely healthy and as p er the latest outstanding figures it is 1,03,915 crores. 1.1 Aim of the project To understand the role of commercial paper in the Indian money market along with the changes in risk return and also the total outstanding during the period of financial crisis. 1.2 Need of the study India is the second fastest growing economy in the world. The policy makers aspire to attain double digit growth rate. During our review of literature we came to understand that no significant study had been undertaken to understand the effect of the financial crisis on the returns of commercial paper in India. Moreover, studies concerning commercial paper on a global level are also limited. We attempt to fill this knowledge gap. There is wide literature in the form of articles regarding the effects of the financial crisis on the American commercial paper market. We are attempting to understand if the effects of recession on the American commercial paper market have also affected its Indian counterpart. 1.3 Objectives of the study The following are some the objectives that we hope to accomplish during the course of our study. a. To understand the role of commercial paper as an instrument in Indian Money Market. b. To understand risk return movement of commercial paper in India during the financial crisis. c. Comparative analysis of risk return between American Indian commercial paper. d. Understand the changes in commercial paper outstanding of both American and Indian commercial paper market during the financial crisis. 1.4 Hypothesis There is a positive correlation between Indian U.S. discount rates. Indian U.S. commercial paper outstanding have decreased during the period of financial crisis. 1.5 Methodology The study is quantitative in nature. We will be relying exclusively on secondary sources of data, significantly the reports generated by the Reserve Bank of India. Statistical tools such as measures of central tendency, measures of variation and correlation will be used. 1.6 Limitations of the project The major problem being faced is scarce information regarding the Indian commercial paper market. Time constraint will limit the extent depth of the study. The data regarding commercial paper rates for both India and U.S. has been published only up to November 2009 at the time of study. 1.7 Chapter Plan The following is a brief summary of the chapters within the project. Chapter 1: Introduction – Provides a brief insight into the history, role and functioning of commercial paper as a money market instrument. This is followed by the aim, the need, objectives and a brief overview of the methodology followed by the limitations of the study. Chapter 2: Literature review – A broad review of literature which was deemed relevant to the study. The literature mainly comprise of empirical studies undertaken by various researchers. Chapter 3: Methodology and the methods – The data source, statistical tools are highlighted in this chapter. Chapter 4: Analysis and Interpretation of the data collected. Using the techniques mentioned in the methodology, a thorough analysis of the data is conducted. A brief interpretation is also provided. Chapter 5: Conclusion – Concludes the study with a summary of our findings. Chapter 2: Literature Review 2.1 According to Saurabh Ghosh and Narayan Chandra Pradhan (2009) The authors have tried to understand the determinants of WADR (weighted average discount rate) and how these determinants have affected their movement over the past 5 years after adjusting for seasonal fluctuation. The real and financial variables considered for the study were: Index of industrial production (IIP), Amount of CP issued, Cut-off yield 364 days, Call/Notice money, Sensex, Indian Rupees – U.S. Dollar exchange rate bank credit. A close movement and dependency was found out between WADR and the call rate the 364 day treasury bill yield. Although initially there wasnt much co-movement between WADR and the BSE Sensex, co-movements were noticeable after December 2005.The empirical results indicate that there has been an increase in the average monthly issuance, WADR and volatility of WADR over the years. However, around 80% of the commercial paper issued by companies over the last five years was from ‘Prime-rated companies. 2.2 According to Matthias Kahl, Anil Shivdasani Yihui Wang (2008) Firms access commercial paper market to enhance their financial flexibility. Firms use it to fund investment when attractive projects arise and they have insufficient internal funds. Another way in which commercial paper may be used to increase a firms financial flexibility is as bridge financing. They argue that commercial paper borrowing in positively correlated with investment expenditures and negatively correlated with cash holdings. 2.3 According to Pengjie Gao and Hayong Yun ± (2009) The collapse of Lehman brothers was followed by a virtual closing of the commercial papers market, followed by which a number of firms drew excessively on their remaining lines of credit out of fear that weakened banks would reduce their loan commitments. Aggregate commercial paper borrowing declined 15% after the collapse of Lehman brothers, but the effect was concentrated among firms with high default risk. High risk borrowers that were negatively impacted by the decline in the commercial paper market after Lehmans default substituted commercial paper with lines of credit. Low risk borrowers remained as they were. 2.4 According to Charles W. Calomiris, Charles P. Himmelberg Paul Wachtel (1994) The authors arrived at three conclusions. Firstly, there is a flight to quality during a downturn. Firms with strong balance sheets exploit this demand to reduce their cost of short-term borrowing. Secondly, firms in strong financial condition issue commercial paper during downturns in order to extend credit to other firms which may include customers of the firm. As the economy weakens, customers pay their bills more slowly and firms may extend more trade credit as a means of financing their customers short-term credit needs. There is evidence that commercial paper is used to finance trade credit. Finally, increased commercial paper issuance is used to finance inventories. Further, they established links between growth of commercial paper in relationship between the paper market and the commercial bank portfolios. At various times the growth of the commercial paper market was attributed to – (i.) Banks with weak loan demand that were searching for an alternative asset. (ii.) Regulatory constraints that made bank deposits unattractive. (iii.) Market conditions that made bank loans relatively expensive. 2.5 According to John P. Judd (1979) The researcher argues that commercial paper market has replaced the banking sector as the primary source of short-term funds for large financially sound nonfinancial firms. Banks can compete effectively only if the value of the intermediate services that they provide to the lenders/borrowers is greater than the spread between the lending and borrowing rates that they must charge to cover the costs of doing business and absorbing risk. However, it was found that the value from the intermediate services were relatively small and hence the switch over to commercial paper. 2.6 According to Pu Shen (2003) Before the current drop in commercial paper outstanding there was a past occurrence in 2002 when the market for nonfinancial paper declined rapidly. The author tries to understand the factors that led to the unusual decline. To achieve this he considered the factors that could have reduced the supply of credit as well as factors that could have reduced the demand in the commercial paper market. On the basis of this analysis, a conclusion was reached that both demand and supply contributed to the decline. Supply in this context means willingness of the investors to participate in the market. Willingness can be reduced by two factors – Actual or perceived deterioration of the creditworthiness of borrowers and general reduction in investors tolerance for risk. On the demand side, two factors reduce the need for corporations to borrow in the commercial paper market. One factor is decline in inventories which reduces companies short-term financing needs. The other factor is a switc h by firms from borrowing short-term in the commercial paper market to borrowing longer in the bond market. 2.7 According to Dan Covitz Chris Downing (2002) A model is created to explain the relationship between short term and long term yield spreads. Short term spreads cannot be explained by insolvency model because of large spread. Many a times short and long term spreads are negatively correlated. Their explanation for observed risk spreads rests on a distinction between the fixed and liquid assets of a firm. A simple model was proposed in which a firm with a low level of liquid assets may be forced to turn to outside sources of funds to meet its short-term obligations. Funds raised from outside can bring in delay in payments to creditors, which can affect the short term creditors more than long term creditors. Variety of insolvency-risk and liquidity-risk proxies were used and was found that liquidity risk help explain short-term spreads during periods of market stress, but explains very little about long-term spreads. Their empirical findings indicated that while liquidity is an important determinant, the credit risk is the dominant determinant of Commercial Paper credit spread. A literature survey regarding Asset Backed Commercial Paper (ABCP) was conducted, but was disregarded as it was not relevant to the research at hand. A working group has recommended that ABCPs be introduced to deepen the commercial paper in India. Following this the RBI issued the draft guidelines on securitization of standard assets on April 4, 2005. Chapter 3: Methodology Research basically means a quest for knowledge. The primary purpose for applied research is discovering, interpreting and the development of methods and systems for the advancement of knowledge on a wide variety of scientific matters (Wikipedia.com).In this chapter the methodology and methods to be used for analyzing the commercial paper market are briefly discussed along with the problems encountered and the steps that were taken to overcome them. 3.1 Types of Data There are broadly two types of data that are available at the disposal of a researcher. 3.1.1. Primary Data We may rely on primary data if the research calls for raw data that has been collected at the source and has not been subject to any manipulation. Primary data can be qualitative or quantitative. The core benefit of this type of data is that the researcher can exercise a high degree of control over the method and tailor the data collection methods to suit the needs of his research. 3.1.2. Secondary Data Primary data collected by one person may become the secondary data of another. Secondary data has many benefits that make it very appealing. The most obvious advantage is that the data is very economical since the cost of collecting it is usually very little when compared to primary data. It also saves the time of the researcher which would otherwise have been spent on the data collection process. Another key advantage is that in the process of searching for data relevant to the problem, the understanding of the researcher of the problem is improved and there can be changes in the idea in light of the secondary data collected (Beri, 2003). That is not to say that there are no limitations to it. The major risk undertaken by the researcher when collecting secondary data is that the accuracy of the data is compromised. Subsequent problems may be the availability, relevance and sufficiency. Our research relies on secondary data specifically the commercial paper rates published by the Reserve Bank of India and The Federal Reserve. Since these institutions are the apex central banks of India and United States of America respectively, we assume that the data provided by them is highly accurate and can be safely used in our study. Internet Research. As the name implies, it is the practice of using the World Wide Web for research purposes. After identification of our topic, we had to undertake an internet research to gain more background information about it and further our understanding of the topic. Several newspaper articles published on the internet was used to draw a rough chronology of the events in both the Indian U.S. commercial paper markets during the period of study. 3.2. Time Period The financial crisis was well underway during the early half of 2007 due to subprime mortgages default. We have divided the time period of our study into two distinct frames to analyze and draw logical conclusions. 3.2.1 First Time Period (November 2007-October 2008) We have selected November 2007 as the initiation point of the first time period our study due to the fact that the stock markets in America was in turmoil and falling rapidly. Leading up to this point there were certain major market developments, the LIBOR (London Interbank Borrowing Rate) reaches its highest level since 1998. Northern Rock collapses and receives emergency support from Bank of England. Major Banks such as UBS and Citigroup announce losses numbering in the billions due to subprime mortgage defaults. September 2008 was a very dynamic and crucial month in the context of the financial crisis. U.S. government bails out mortgage lenders Freddie Mac Fannie Mae, which hold almost half of all outstanding mortgages in the U.S. Bank of America proposes to take over Merrill Lynch for USD 50 billion. Lehman brothers files for bankruptcy making it the biggest corporate bankruptcy ($ 639 billion) in the history of U.S.A. Morgan Stanley Goldman Sachs loses their status as investment banks. They become traditional commercial banks (Mauro F. Guillà ©n, 2009). The first time period concludes on October 2008. The reason we have selected this particular month is that in the aftermath of Lehman Brothers bankruptcy, the commercial paper market contracted severely. Investors lost their confidence and companies were finding it difficult to make fresh issues of commercial paper. 3.2.2 Second Time Period (November 2008-November 2009) For companies that use commercial paper as a short-term funding mechanism, a sudden stoppage of access to the market will push them to the brink of bankruptcy. The Federal Reserve recognized this and initiated the Commercial Paper Funding Facility towards the end of October 2008. The major objective was to stabilize the commercial paper market and provide the necessary funding to the companies. Our second time period picks off from this point and continues till present. 3.3 Statistical Techniques Statistics is termed as the science of making effective use of numerical data. It deals with all aspects of it including collection, analysis and interpretation of such data collected. To facilitate our analysis, we had to rely on certain statistical tools and the software SPSS. 3.3.1 Measures of Central Tendency The most commonly used tool for understanding ‘averages is the arithmetic mean. A single value which is a representation of the entire mass of data taken into calculation. It is neither the highest nor the lowest value in the data set. It takes into account all the values in the study. It is in essence a single value around which the other variables in the study tend to cluster. The arithmetic mean is also laden with a certain disadvantage namely the tendency of the mean to get unduly affected by the presence of extreme values. 3.3.2 Measures of Variation Using mean will only supply us with a single figure representing the entire data. We cannot understand the dispersion of the values from the mean. To overcome this obstacle, we need to use a measure of variation. We have decided to study the variation utilizing the tool ‘standard deviation. Standard deviation helps us to measure the risk associated with commercial paper. Standard deviation will be equal to zero when all the numbers in the sample are very close to one another. The more dispersed they are the greater will be the standard deviation. 3.3.3 Correlation Mean and standard deviation does not allow us to compare two different variables. In such a scenario we may use correlation to understand if any relation exists between two variables. If relation is proved, correlation further helps us to judge to what degree the relation is present and the significance of it. The correlation coefficient ‘r ranges from -1.0 to +1.0. The closer ‘r is to either poles, the higher the correlation. Towards +1 indicates a positive correlation whereas closer to -1 is an indicator of negative correlation. 3.3.4 Simple Bar Diagrams/ One-dimensional Bar diagrams Simple bar diagrams are considered to be the most commonly used diagrammatic representation of data. Only the length of the bar matters, the width of a single bar is present only for drawing attention to the figures and making clear cut conclusions. We have used bar diagrams to depict the trend of commercial paper outstanding in both the Indian U.S. commercial paper markets over the period of study. 3.3.5 Times Series Graphs We have utilized time series graphs to chart the movement of risk across the time period of study. The reason for the selection of this technique is due to its usefulness in giving a quick idea about the trend of the variable over a period of time. The other added advantage is that it allows a comparison of two variables also across the time period. Chapter 4: Findings Analysis 4.1 Introduction In this chapter, we attempt to make a systematic analysis of the secondary data that we have collected from Reserve Bank of India Federal Reserve System. The raw data was transferred to Microsoft Excel software after proper scrutiny. The data was analyzed by using the statistical tools present in the Microsoft Excel SPSS programmes. As we have described earlier in the methodology, descriptive statistics like standard deviation, arithmetic mean and inferential statistics like correlation were used to analyze the data. Data presentation tools like Simple bar diagram and Time series graphs were utilized to present the data logically and in an understandable manner. The discount rates provided by RBI consisted of low high rates. The average of the discount rates was calculated to make a meaningful analysis and enable comparison with the U.S. commercial paper discount rates, since the Federal Reserve provides only a single rate. Moreover in the U.S. the commercial paper market is sub-divided into two broad strata, i.e. financial and non-financial commercial paper. Both of these were taken into account to enable the study to be more comprehensive and significant. The U.S. commercial paper outstanding amounts were converted into Indian rupees on the basis of foreign exchange rate prevalent in the time period of study. This was conducted on a month wise basis from November 2007 till November 2009. 4.2. Analysis of Data The following section contains an analysis of the data. 4.2.1 The first analysis conducted was to trace the movement of discount rate in India during the first time period. Table.1. Mean Standard Deviation of Indian Discount Rate during November 2007- October 2008 Mean 10.9242 Std. Deviation 1.70208 Interpretation 68% of the time, the average discount rate shall vary between 9.6 and 12.6. That means for nearly 8 months of the study period, the rate of return of commercial paper in India will be between 9.6 12.6 95% of the time, the discount rate shall vary between 7.5 and 14.3. The overall trend from the observed figures indicates forward direction. The cause behind this trend maybe the accelerated inflation rate. The investing communitys confidence levels are weakened, as a result the expected levels of discount rate also increases. Another reason may be that the investors are worried about the exposure of Indian banks to U.S. subprimes. For instance ICICI exposure to Citibank Asset backed securities is one important reason behind uncertainty in Indian money market segment. Graph.1. Movement of discount rate during Period 1 Interpretation Until December 2007, the discount rates did not undergo much fluctuation. From January 2008 till April 2008, the rates were subject to wide changes the average rate reached heights like 11.88 and depths of 8.73. In March, the market on expectations of a promising RBI credit policy announcement has shown an upward surge. But the RBI maintained the status quo, the bank rate, the repo rate and the reverse repo rate were unchanged. Following this the returns show a decline and thereafter it has shown a rising trend till October 2008. Corresponding to this period, the inflation rates in India had also been growing at an accelerated pace. The inflation in India during March was 5.11%, this shot up to 12.63% in August and declined to just 10.72% by October end. If the inflation rate increases, the nominal interest rates also increases, as a result commercial paper discount rate is also showing an increase. The discount rate rose to an all time high of 14.23 in October 2008.This abnormal rise in discount rates may be linked to Lehman Brothers declaring bankruptcy in U.S.A. on September 15, 2008. Because of the bankruptcy, the investors have lost their confidence on money market instruments. This event might have triggered investors in the Indian commercial paper market to seek higher discount rates on the Indian commercial paper. As a result pushing up the discount rates on commercial paper issued by the Indian corporate sector. 4.2.2 This analysis deals with the movement of discount rate in

Global Warming is Here. Now What? Essay -- Climate Change, Synthesis E

Global warming denial and unprogressive energy outlooks are all products of not seeing the full picture. The evidence is clear, even in nature. Plants are blooming earlier, animals are waking up from hibernation earlier, birds are migrating farther north, and populations of animals have already gone extinct due to global warming. Yet, some still stay stern in denying its reality. That being said, even honest open-minded people can fall prey to misleading notions and statistics. To truly uncover the truth, we need to see the full picture. While researching climate change, with the mountains of false or cherry-picked data out there, you certainly learn to be skeptical of a source's creditability. You also, learn the importance of getting the full picture, rather than just a partial one. Heres a few examples, of what I'm talking about. A while back many were convinced that because CO2 follows global surface temperature increase by about 800-1000 years, that CO2 as a cause of global warming was disproved. Which made sense; how can a cause follow a result? It seemed to go against the basic order of cause and effect. Al Gore even strengthened the argument, by mistakenly telling the audience in his video An Inconvenient Truth, that CO2 lead temperature. So when that statement turned out to be false, many people came to the conclusion that climatologists were wrong about CO2, and if they were wrong about a major cause than maybe they were wrong about global warming all together. However, unknown to most of those people at the time, climatologists were already very aware of CO2's lag behind temperature. The complexity of the process was already known. It isn't a straight forward cause and effect ordeal. The initiator is... ...ance of the greenhouse effect. Information I will use to explain the greenhouse effect. "FORD PLANNING NEW ELECTRIC, HYBRID AND PLUG-IN VEHICLES IN NEXT 4 YEARS." Ford Motor Company. N.p., n.d. Web. 13 May 2010. Information on the Ford Focus electric car. I could use the Ford Focus electric car as an example. Paddock, Barry. "Nissan Leaf vs. the Chevrolet Volt: Electric car war heats up New York International Auto Show." NY Daily News. N.p., 1 Apr. 2010. Web. 13 May 2010. Information on both the Nissan Leaf and Chevy Volt electric cars. Both cars can be used as example, and to show the difference in models. Edwards, Ross. "Electric Car Battery Swapping Station Launched in Japan." PriceWheels.com. N.p., 30 Apr. 2010. Web. 13 May 2010. Contains information on the Electric car replacement stations. Vital in explaining why electric cars are the future.

Letter from Birmingham Jail by Martin Luther King, Jr. Essay -- Essays

Letter from Birmingham Jail by Martin Luther King, Jr. â€Å"Hence, segregation is not only politically, economically, and sociologically unsound, it is morally wrong and sinful.†Ã¢â‚¬ ¦ Martin Luther King, Jr., one of the greatest speakers in all of history wrote these words in his letter from Birmingham Jail (King 48). His great use of rhetoric affected largely the freeing of an entire race. During his work in the Civil Rights Movement, he visited a small town called Birmingham in Alabama, and wrote one of his most rhetorically compelling letters there. In this letter, he used historical evidence, scriptural references, descriptive vocabulary, and great organization of points to respond to grievances raised against his movement: that he should wait, that he was breaking laws, that his peace brought on violence, and that his activities were extreme. Time will heal all wounds†¦right? This is what was thought by desegregationists. Martin Luther King, Jr. was told that he should just wait, and in time, African Americans would receive their rights. King wrote this in response: â€Å"Human progress never rolls in on wheels of inevitability; it comes through the tireless efforts of men willing to be co-workers with God, and without this hard work, time itself becomes an ally of the forces of social stagnation.†(King 51) King knew that if he didn’t fight, this wound wouldn’t be healed. He used historical evidence in order to prove his point. He said, â€Å"Just as Socrates felt that it was necessary to create a tension in the mind so that individuals could rise from the bondage of myths and half-truths to the unfettered realm of creative analysis and objective appraisal, so must we see the need for nonviolent gadflies to create the kind of te... ...see tears welling up in her eyes when she is told that Funtown is closed to colored children, and see ominous clouds of inferiority beginning to form in her little mental sky;† He uses historical and biblical evidence to support his arguments. He organizes his arguments perfectly in order to persuade in the most effective way possible. King knew rhetoric. At the end of his letter, he finished up by showing his true reason for fighting his fight. He said, â€Å"If I have said anything in this letter that overstates the truth and indicates an unreasonable impatience, I beg you to forgive me. If I have said anything that understates the truth and indicates my having a patience that allows me to settle for anything less that brotherhood, I beg God to forgive me.† Works Cited King, Martin Luther Jr. Letter from Birmingham Jail. Massachusetts: Heinle &Heinle, 2003.