Plate tectonics Essay

Ever since the beginning on time, Humans believed the ground is solid and immobile. But this is not true whatsoever. The Earth is every-changing and continually in motion. The stability of the Earth is not at all what we think it is. Thinking about the rotational axis of the Earth, and possibly of what the Earth may become at a certain point in time, has a great influence on understanding all aspects of living things, either in the past, present, or future. The study of Plate tectonics is accredited to most of the creations of Mountain Ranges, the drifting of continents, earthquakes, and volcanic activity. Plate tectonics and mountains also play a big part in the geological features of our planet or any planet for that matter. Geophysics, which studies the physics of the Earth, has led to many important findings about the Earth and how it is made. Seismologic studies of planet Earth have revealed new information about the inside of the Earth that has helped to give new openings in understanding plate tectonics. The Earth is made of several significant layers. Each one of these layers has its own properties. The crust is the outermost layer of the Earth. The crust is made up of the oceans and continents. The crust has a fluctuating thickness, being thirty to seventy-five kilometres thick in the continents and ten to fifteen kilometres thick in the ocean basins. The crust is made up mainly of alumino-silicates (Fowler p472). The layer underneath the crust is the mantle, which is made up mainly of ferro-magnesium silicates. The mantle is approximately two thousand, nine hundred kilometres thick, and is separated in to the upper and lower mantle. It is in the mantle where most of the centralized heat of the Earth is located. Big convective cells in the mantle disperse heat and produce the plate tectonic processes. The core is the last layer of the Earth, which is broken down into the liquid outer core and the solid inner core. The inner core is about thirteen hundred kilometres thick and the outer core is about twenty-three hundred kilometers thick. A nickel-iron alloy mixture makes up the outer core, and the inner is almost all composed of iron. The Earth is separated in layers based on composition and mechanical properties. The top layer is the lithosphere, which is comprised of the solid upper mantle and the crust. It is divided into plates that move due to tectonic forces. The lithosphere floats on top of a semi-liquid layer that is called the asthenosphere. The asthenosphere allows the lithosphere to move around since it is much weaker (Tarbuck p605). Early scientist believed that one huge supercontinent existed over two hundred million years ago. The name for this supercontinent is Pangaea. Pangaea was broken in to several pieces, and each piece was a part of the lithosphere. They believed that the pieces of Pangaea formed the continents that we know of in present day geology. When Pangaea existed, the rest of the Earth was covered by an ocean called Panthalassa. Eventually, Pangaea split into two land masses, Laurasia to the north and Gondwanaland to the south. The theory of plate tectonics does in fact have an explanation for the movement of the Earth’s crust. The fact that Pangaea did exist could be quite plausible. Scientist also believes that as the Pacific Ocean is closing, a supercontinent may form in millions of years to come. In present day geology, we can consider Eurasia as a supercontinent because the Ural Mountains separate Europe from Asia and make a line of compression and change where the two continents smashed in to each other (Tarbuck p606). In 1620, Sir Francis Bacon wrote in his book Novan Organum and noted that the coasts of the Atlantic Ocean seemed to be parallel to one another. However, the plate tectonic theory really started to begin in 1915 when Alfred Wegener proposed the theory of continental drift. Alfred Wegener believed that the continents bulldozed through crust on the ocean basins, which would explain why most of the coastlines look like they could fit together. Wegener was not the first one to realize that the continents looked like they could fit together because Magellan and other early explorers noticed this also. However, he was the first person to realize that the Earth’s surface has changed over time, and that continents that are not together now could have possibly been joined together at some point in the past (Twiss p532). Many people were against Wegener’s theory because he did not really have an explanation for why the continents moved. During that time, geologist believed the Earth possessed these features because the planet went through periods of cooling and heating. Anti-mobilists were people that were against Wegener’s theory. People who were in favor of Wegener were known as mobilists because they had seen proof of continental movement in the Alps (Fowler p475). In a few short years, Wegener’s theory was denied. However, his theory was the first time the idea of continental movement was announced to the science community. His theory laid the foundation for the advancement in twenty-first century plate tectonics. Years would pass and more evidence became available to support the idea that plates were in fact in motion and changed over a period of time (Fowler p476). After the Second World War, more information was discovered which supported the theory of plate tectonics. In the sixties, a bunch of seismometers were installed to collect data on nuclear bombs, and these instruments sparked curiosity among geologists. It showed that volcanoes, earthquakes, and other features were along the Pacific Ocean and ran along the continents edges for the most part. It turned out that all of these edges became known as tectonic plates (Kearey 2009). Further studies showed a pattern of magnetic fields in the ocean basins. The rock basalt contains a lot of magnetic minerals called magnetite. The lava forms and cools and the magnetic minerals align with the North Pole. This proves that the Earth has gone through several magnetic reversals; this would not be possible if the lithosphere was not in motion. Since all of this has been discovered, plate tectonics has gained acceptance as the Earth processes (Kearey 2009). Plate tectonics is made up of the study the motion and change in the Earth’s crust. This is based on the theory that the lithosphere is divided into seven major plates and several minor plates, and they all move in accordance with each other. They also move in relation to hot spots, which is where mantle material comes up. The plate tectonic theory tries to tell us that the Earth’s crust moves over a period of time. The crust moves in a rigid way, which explains the change that we see. The theory is based on a few beliefs. New material is made by the spreading of the ocean floor and eventually become part of a plate, and motion of plates occurs only at plate boundaries. Plates are rocks that pretty much float on top of the asthenosphere. The crust has two types, the oceanic and continental; they both differ because of composition. The continental crust is made up of mostly granite. This brings us to the conclusion that the rocks have a lot of quartz and feldspars. However, most of the oceanic crust is made up of basalt. Basalt usually has other minerals like olivine and mafic minerals (Fowler p477). There are three types of plates, divergent, convergent, and conservative. Wide places of change are usually around plate boundaries because of the two plates colliding. We know that these boundaries exist because of their motions. One sort of plate is the divergent boundary. At this boundary two plates move apart. As they move apart it creates a crack in the crust and magma comes in to the ocean and cools. When the plates move, more and more crust is formed. Divergent boundaries are believed to be the reason for the plates moving. The formation of the new crust pushes the two plates apart, this is apparent in the mid-ocean ridge, which helps to move Europe and North America further and further apart. Mid-ocean ridges are mountains under water. They can even be as tall as mountains that are on land, this process is known as convection. Magma is pushed up by convection currents. Some magma erupts through the crust and some moves under the crust away from the ridge crest. The magma flows and helps move the plates away from each other to allow more crust to be created and to grow; this is called convection cells. We know this to be sea-floor spreading. The mid-ocean ridge plays a big part in the plate tectonic theory because of the minerals uniqueness within the basalt. It contains a lot of magnetic minerals that align with the Earth’s magnetic field when it crystallizes. In the past, scientist has known the Earth’s magnetic field to change. When the magnetic minerals align scientist can use it to date the crust. This plays an important role in the theory because it is first proof that plates were in fact moving and have been for almost Earth’s existence. We can use the magnetic information to prove that the plates are moving, and we can also determine that new crust is being formed and that the old crust was erased in a continuous process that has been going on for all of Earth’s past. The oldest crust ever dated is approximately one hundred million years old, which is quite recent in geologic time. This may lead you to question, where did all of the old crust go (Fowler p478). This brings me to my next discussion which is convergent boundary. A convergent boundary is when another plate overrides another plate, causing one plate to go underneath it. Most of the boundaries can be found in island systems and trenches. Most of the old crust goes in to these systems as new crust is formed at spreading centers. This explains why scientist cannot find any crust that date past the Cretaceous period. The old crust was destroyed by the process of subduction. Earthquakes are very active in subduction zones. The earthquakes occur because one plate slides under another. Although this movement is not visible, it has very strong effects on the Earth. The outer edges of the Pacific Ocean are referred to as the â€Å"Ring of Fire† because the subduction zones go all around the Pacific Ocean. Volcanic activity is also caused by subduction zones because when one plate goes under another it gets hotter. The reason it gets hotter is because it is closer to the mantle. When the old crust gets close to the mantle, it melts and forms in to magma. The magma eventually runs up through the crust and forms volcanoes. One good example of a subduction zone surfacing is the Aleutian Islands off the coast of Alaska (Twiss p536). When two plates collide, subduction zones do not always occur. Continental crust is less dense than oceanic crust, and when they collide, they do not run over each other. Instead, they kind of plow in to each other and create mountains. This type of boundary is called a collisional boundary. An example of two plates colliding is the Himalayas in India. The third type of boundary is the transform boundary. It is called this because plates are not destroyed or created, but they slide past each other. A good example of a transform boundary would be the San Andreas Fault in California. In California, the Pacific Plate and the North American Plate are sliding past each other. This is why many earthquakes occur in that region. The earthquakes occur because of the strain that the two plates exert as they slide past each other (â€Å"Historical perspective). The Earth changes in many ways, however there are three forces the cause change within the Earth. When these forces act, they create stress and they change the volume and shape of a material. The three main types of stress are shear, compressional, and tensional. Stress puts a lot of strain on the Earth which causes the change in rocks and the Earth’s crust. Compressional forces may cause a rock to compress or shorten. Tensional forces may cause a rock to become longer and pull apart. Shear forces can cause rocks to slip past each other (â€Å"Historical perspective). Faults are places where rocks have been broken and have been changed. There are three big types of faults. These are strike-slip, normal, and reverse. The stresses caused by motion of the plates build up over a course of time and ultimately cause the Earth’s crust to break when the rocks rub past each other. Usually when a fault happens, an earthquake occurs. Every plate boundary has some characteristic of a type of fault. Normal faulting can be affiliated with crustal extension. Normal faults can usually be found at divergent boundaries. Crustal shortening can be affiliated with reverse faulting. Reverse faults can usually be found at convergent boundaries. Strike-slip faulting is affiliated with sideways movement of the crust. These faults usually form at transform boundaries (Twiss p538). Even today, we are constantly reminded that the plates are in motion. One recent catastrophe caused by plate tectonics was the earthquake that happened in Haiti. Studies suggest that the earthquake occurred due to a strike-slip fault. The Caribbean sits on its own little plate and is surrounded on three sides by the bigger North and South American plates. Scientists believe that the North and South American plates are moving westward at approximately two to three centimeters per year. Based on the recordings of the earthquake, the Haitian quake seems to have occurred close to the Enriquillo Fault. The Enriquillo Fault is a big strike slip fault that runs across the southern border of Haiti. Scientists presume this is the fault that most likely ruptured because it is closest to the epicenter of the rupture. Although this was a big catastrophe for human life on the island of Haiti, it was not really unusual given the plate tectonic activity in that area. Unfortunately for Haiti, it is one of the most poorest and underdeveloped countries in the world. Its government was not really in the position to have any preparations in line for such a huge earthquake, and this caused thousands of people lost their lives (Kearey 2009).

Overdraft

An overdraft is when one has overdrawn at the bank. Meaning there is a negative balance due to spending more than the money that is in the bank. Bank overdraft is a temporary facility whereby a bank customer can withdraw more money than what is actually available in his/her account. Obviously the money doesn’t belong to them but belongs to the bank, so this money will need to be paid back. Normally, paying back is automatically done when money goes into the person’s account.However, a small amount of interest based on the amount overdrawn and the length of time overdrawn is charged, a bank overdraft is also a type of loan which can be used if required to provide additional working capital for a short period of time when there is a cash deficit. An overdraft is particularly useful when one has regular sales and purchases coming out of the account which could result in bad cash flow situations. The best thing to do is to avoid overdrafts entirely.Do this by creating a bud get, keeping an extra cash cushion in your account, managing your checkbook and checking your balance before making a purchase or writing a cheque. The advantage of a bank overdraft is that it is there when you need. It allows you to make essential payments whilst chasing up for your own payments, and helps to maintain cash flow. You only need to borrow what you need at the time. Overdrafts are also easy and quick to arrange, providing a good cash flow backup with the minimum of fuss.The disadvantages of a bank overdrafts is that it carries an interest and fees which is often at much higher rates than loans. This makes them very expensive for long term borrowing. You also face large charges if you go over the agreed overdraft limit. Unless specified in the terms and conditions, the bank can recall the entire overdraft at any time. This may happen if you fail to make other payments, or if you have broken terms and conditions; though sometimes the banks simply change their policies.Ov erdrafts may need to be secured against your business assets, which put them at risk if you cannot meet repayments. Unlike  loans  you can only get an overdraft from the bank where you maintain your current account. In order to get an overdraft elsewhere you need to transfer your  business bank account. Situation: Mr. T applied for an overdraft facility with collateral. He mortgaged his house in order to get an overdraft facility of RM200,000 with an interest of BLR-2. 2% with HSBC Bank (BLR-Base lending rate).RM200,000 is deposited into his account upon the completion of security documentation. Interest is only payable for the amount of money utilized and he is given a tenor of 10 years to repay back. If he does not utilize the RM 200,000, he need not pay any interest to the bank for that month. The bank only calculates interest for the utilized amount only on a daily basis. However, if he doesn’t utilize any money, the bank may impose a service charge. This type of ov erdraft facility is best for businessman.

Political Economy of Media Essay Example | Topics and Well Written Essays - 2250 words

Political Economy of Media - Essay Example He also looks at the economic and cultural globalization and their relation with the global commercial market (2001, p.1). The global commercial media do promote cultural globalization. McChesney looks at the technological revolution that is defined mainly by the radical development in computing and digital communication. He concludes that the cultural globalization and economic globalization would be impossible without global commercial media. Technological revolution has made the media empire lucrative and realistic; this new image of the media company is one that was unimaginable in the past. The emerging technologies in the media economics play a role in encouraging competition among the media companies. In pursuit for profits and economy improvement media, companies embrace the new technology in the market to ensure that they provide satisfactory service to their consumers (McChesney, 2001, p.3). The relation between media economy, technological revolution can be better understo od if we consider the role of advertising. Advertising is a business expense that large firms invest in to commercialize their business. The concept of globalization was made possible through advertising, the media benefits from advertising in the sense that three quarters of the earning from advertising is for the media company. The internet for instance is one of the technological advancement that has been embraced by the media company. McChesney observes that companies like the AT&T, Microsoft, telefonica, and AOL have become media players. The integration of the media system, telecommunications and the computer industries forms a global communication system. It is true that the global media plays a crucial role in the promotion of expansion of global and regional sale of goods and services; the global media functions to promote cultural industry. Patrick looks at the cultural industry in the age of globalization and concludes that culture is increasingly being shared. Many natio ns concentrate on transitioning cultural industries and national interests. Grant states that the cultural industry exists to enforce the capitalist ethos. He describes that culture is a tool for the capitalists to exercise control of an individual’s consciousness. Let us consider television as a part of the culture industry. The television has changed the society these days. However, Grant does not view the change as revolutionary but rather as a progression. It is, however, through the television, that advertising has been made a vital part of marketing by many industries. The media achieve the success of advertising when cultural expectations are aligned with the investors’ expectations, the purpose of technological innovators and the goals of entrepreneur ism. Technology has seen the penetration of various cultures into the mainstream. It is necessary to note that culture forms the spirit and soul of the every nation. It is also crucial to note that culture also fo rms the foundation of national development. Yan lei suggest that there is a relationship between culture and economic growth. This he concluded after carrying out various studies that explained the impact of culture on economic development, and technology (2008.p.23). Lin yei observes the cultural industry contribution to the Guangdong province, and he compares it to the contribution by the other industries such as agriculture, and the industrial industry. Lin yei states

Response to Be Virus Free Article Example | Topics and Well Written Essays - 1500 words - 1

Response to Be Virus Free - Article Example Can we cure a viral disease? Of course, through proper medication, which involves mainly vaccination, it is possible to cure some of the diseases. However, the fact remains that whether humans could be ‘totally virus free’? At this stage, I would like to draw your attention to an advertisement that appeared in your journal, titled, â€Å"Be Virus Free†. The afore said advertisement advertise on an alternative healing method which require no drugs, is effective, permanent and seems to guaranteed to be an ‘once only treatment for complete protection from viruses’. It also lay claim to have received a ‘1999 Australian achiever award’ and is ‘highly commended’. In my point of view, this advertisement is not based on any scientific reasoning or on any concrete research finding which can ensure a complete virus-free status. An in-depth study on the behavior of infectious viruses and the resulting diseases implies that such a ‘virus free’ status is yet to be achieved. Before proceeding further, it may be advisable to explicate the characteristics of major viruses and the mechanism of viral attacks to clarify why a totally virus-free status is still hard to achieve. A virus is a portion of DNA or RNA, wrapped in a protein. It can replicate only when it is inside the cells of a living organism and thus, they are a virulent agent with highly infective nature to ensure their survival. Basically, a virus causes cell lyses where the cells of the host organism break open which cause subsequent cell death. These viruses use the important metabolic system of the host cells for their replication and reprogramme the host cell to produce new viruses, and for this, use the proteins of the host cell. The mechanism of viruses in producing a disease in a human (or any organism) is mainly based on the viral species (Table 1) and it is interesting to note that some

Will be privided on Friday July 1st after 6pm Essay - 1

Will be privided on Friday July 1st after 6pm - Essay Example Acting in such a manner shows how one puts his heart in his work and usually results in satisfactory jobs as others may not be able to demand for more when they see the seriousness of a responsible person. Of course, physical efforts are much needed to accomplish responsibilities because just thinking about things and planning one’s actions are not the same as doing them. One has to perform his duties to be considered responsible. In our world, whatever part of the world we live in, I think responsibility is present and comes in many forms but still are the same though different in some ways. This is so because of culture and beliefs. For instance, for some cultures, it is still widely accepted that mothers should stay at home and do the household chores, bear children and take care of them while the father is expected to do the more difficult tasks like farming or being the bread winner, going to the office and bringing home his paycheck to his wife. To them, women are expected to budget whatever amount the father brings home for all the needs of the whole family. For other cultures, women are now allowed to work alongside the men in offices, competing with them and even becoming bosses in a world that used to have been dominated by the stronger sex, as we have always known. However, the women’s responsibilities in such cultures in the house are not passed on to the men, though there are some cases of which, but that their working outside of the house is but an additional responsibility. If they are not able to perform their functions as housekeepers and babysitters, they then have to hire someone to do the task so that their primary responsibilities will not be forsaken. In another angle, there are other responsibilities we have to perform and that would be our social responsibilities. As they say, no man is an island. Indeed no man is and we can not survive without the help of the other no matter how much we hate having others help us. Men have been made

Physics lab reports Essay Example | Topics and Well Written Essays - 500 words

Physics lab reports - Essay Example This property allows the convenient computation of the density of the rock samples given that the volume of the displaced water (for instance, 10 grams of displaced water has a volume of 10 cm3) will equal the volume of the submerged object. Following the weighing of the rocks in air as well as in water, the buoyancy, volume and density of the rocks were computed. The buoyancy, which is the same as the weight of the displaced water, was taken as the difference in the weight of the rocks in air and while submerged in water. This is also equal to the volume of the rocks in cm3. The density was calculated by dividing the weight of the rocks in air by the volume of the rocks. The results of the experiment showed that rocks # 3 and 115 have densities 3.02 g/cm3 and 2.27 g/cm3, which are higher than that of water. This suggests that the rocks will be completely submerged in water. Indeed, the rocks were completed submerged in water, thus validating our results. 2. The volume will remain the same. This is because ice being less dense than water, floats in water. That is the volume of ice is greater that of water of equal mass. Thus the volume decreases when ice melts. 2. The curved canopy umbrella accelerates air flow over the top causing the pressure to drop as stated by Bernoulli. You have a low pressure area on top and a high pressure area on the bottom, naturally the umbrella flips

Analysis of American Psycho Essay Example | Topics and Well Written Essays - 2000 words

Analysis of American Psycho - Essay Example However, competition is inevitable when many men are together. It can occur over simple matter or it can also occur over more important aspects such as leadership. In Bateman’s world, the worth of a man is defined by the quality and prestige of a business card. This makes a lot of sense: since representatives of this group can through money into each other, figuratively speaking, they agreed on the idea that a business card should become a representative of its holder. That is why every man around Bateman is concerned with making his card better than others. This is what gives the plot the initial development: the main character is outraged when he learns that one of his friends has a better card than he does. What is more important is that the above mentioned closely connected world of successful men is reinforced with a handful of notions that are widely promoted. One of them is homophobia (Sedgwick 51). For example, Luis Carruthers misinterprets one of the actions of Batema n and declares his love for him, but the latter rejects him in disgust. This scene is extremely important since it puts emphasis on two aspects. First of all, Carruthers who is supposedly gay had to conceal his true identity because of the fear that others would condemn him which is the metaphorical closet (Sedgwick 50). In addition to that, when he speaks out his true feelings Bateman, being an average representative of this high-end part of the population, rejects him, suggesting that homophobia is a norm in this environment.

Artist statement-lost wax casting Personal Statement

Artist -lost wax casting - Personal Statement Example For a top quality casting, one must use the finest materials in the market (Fred 11). The contrast of the poodle curving determination can be guaranteed by the carver’s skills (Richards 16). The poodles contrast should be appealing to everyone, and so it matters a lot. Careful and skilled curving will enhance the outcomes (Richards 18). The body posture in lost wax casting is supremely crucial because it also what determines of the poodles final looks (Richards 22). This simply means would you like the poodle to be in a standing, or lying flat position (Richards 22). The most challenging part in casting will occur in balancing, especially if the casting of the poodle is to occur in an upright position (Slobodkin 4). The reason behind this is that the feet are the one to hold all the body weight of the poodle reasoning that the feet are smaller compared to the body (Slobodkin 4). The feet base should be flat so as to enhance an upright position of a casted poodle (Slobodkin

The growth of Clostridium botulinum Essay Example for Free

The growth of Clostridium botulinum Essay 1. Give an account of the properties and uses of phenol. (1) Phenol is acidic and its conjugate base, phenoxide ion is stabilized by resonance. However, phenol is not acidic enough to liberate CO2 from phenol because an aqueous solution of carbon dioxide is a stronger acid than phenol. An aqueous solution of phenol has a pH value of 9. This means phenol reacts with NaOH but not NaHCO3. Phenol dissolves in NaOH(aq) to form sodium phenoxide, an ionic salt. (2) Phenol is corrosive and is a useful antiseptic. (3) Phenol is a colorless solid of low melting point. Its pink appearance is due to the presence of impurities. (4) When attached to a benzene ring, a hydroxyl group does not show the properties of an alcohol. The delocalization of electrons into the ring makes the -OH group inert towards replacement. On the other hand, the -OH group activates the ring toward electrophilic substitution at the ortho- and para-positions. Therefore, phenol reacts with (a) NO2+, (b) CH3+, (c) CH3CO+, (d) Br2(aq). Phenol is so reactive that it easily decolorizes bromine water in an electrophilic substitution as follows: C6H5OH + 3/2 Br2 C6H2Br3OH (2,4,6-tribromophenol). (5) In alkaline medium, phenol changes into phenoxide ion, a good nucleophile, C6H5O- easily undergoes reaction with i. Halogenoalkane to form an ether C6H5O- + Cl-CH3 C6H5OCH3 + Cl- ii. Ethanoyl chloride to form an ester C6H5O- + Cl-COCH3 C6H5OCOCH3 + Cl- (6) Phenol reacts with methanal to form a thermosetting plastic with high melting point. In the plastic, the phenol molecules are joined together by -CH2 units derived from methanal HCOH. (7) Phenol reacts with stable diazonium salt formed from aromatic amine, forming an azo dye via a -N=N- link at the ortho- or para-position. 2. The preservation technique must not have a detrimental effect on the nutritive value of the food nor be potentially harmful, either immediately or cumulatively, to health. (1) Food preservation techniques involve the killing of micro-organisms, inhibition of microbial growth, or the retardation of chemical changes leading to food spoilage. Principles of food preservation include i. Removal of moisture By making water unavailable for microbial growth and chemical processes, it is possible to preserve food. This technique includes drying and dehydration. , ii. Altering temperature Bacterial cells and spores are destroyed at high temperature, while at low temperatures, the growth of micro-organisms and the rate of reactions which cause food spoilage are retarded. These methods include heat treatment and freezing. iii. Changing pH The use of vinegar in pickling and the production of lactic acid in yoghurt which retards the growth of potential spoilage organisms. iv. Use of osmotic pressure Adding sugar or salt increases the solute concentration within the aqueous environment of the food. The microbial cell loses water to the surrounding concentrated sugar or salt solution by osmosis. The micro-organisms cannot reproduce and multiply, and therefore would not cause food spoilage. v. Use of chemical additives Nitrate and nitrite are used in meat curing for their antimicrobial properties. Anti-oxidants are added to certain food products such as potato crisps to reduce rancidity of fats and oils, thereby prolonging the shelf-life of these foods by chemical changes vi. Irradiation ? -rays prevent spoilage from inside fruit and vegetable and the unbroken skin prevents aerial oxidation. This method significantly increases the length of storage. (2) Food preservation technique i. Heat treatment Cooked food and milk sterilized by UHT. Heat kills micro-organisms, alters protein structure, destroys enzyme activity of micro-organisms in food. ii. Chilling and freezing at -20oC slow down microbial activities and chemical changes resulting in spoilage. Freezing promotes the retention of nutrients and does not destroy nutrients. iii. In canning, food is cooked under pressure in sealed containers. Cooking destroys enzymes and micro-organisms and most canned foods keep well for more than one year. iv. Sugaring and salting remove water essential for enzyme action and microbial growth. v. Pickling in vinegar reduces growth of micro-organisms. vi. Chemicals such as nitrate and nitrite prohibit the growth of micro-organisms. vii. Benzoate, sulphite and vitamin C retard chemical spoilage in fruit juice. 3. Give an account of the uses of food additive. Food additives include monosodium glutamate, benzoic acid, vitamins, butylated hydroxytoluene(BHT). Food additives prevent oxidation, add flavor, texture and color, kill bacteria, increase vitamin content, etc The chemical preservatives that are used as food additives are of two kinds: antimicrobial and antioxidant. Antimicrobial agents like the nitrates(III) and nitrates(V) of sodium and potassium have been added to cured meats like bacon, sausage, luncheon meat for a long time. Nitrates(III) are valuable in preventing the growth of Clostridium botulinum, the bacteria that produces deadly botulism poisoning in canned foods. Sulphur dioxide and sulphates(IV) are another group of antimicrobial preservatives that have been added to alcoholic beverages and dried fruits for centuries. They have been included in fruit juices, jellies and jams. They prevent the growth of yeast and are useful as bleaches and antioxidants to prevent browning in alcoholic beverages dried fruits, fruit juice and vegetables. Antioxidants are used to oppose the oxidative decay of food due to microbial activity. Atmospheric oxidation is the chief cause of destruction of fats and oils in food. Fats and oils deteriorate rapidly by air oxidation, producing carboxylic acids, aldehydes and ketones, which together give spoiled fats their characteristic rancid taste and odor. An antioxidant added to the food can hinder oxidation. BHA (butylated hydroxyanisole) and BHT (butylated hydroxytoluene) are common antioxidants used in food to retard this development of oxidative rancidity in unsaturated fats and oils. These phenols appear to work by donating the H-atom of the -OH group to the free hydroperoxide radical (ROO. ) involved in the autoxidation of fats and oils, thereby stopping the chain reactions in oxidative spoilage: AH + ROO. ROOH + A. where AH represents the antioxidant, and A.is a radical derived from the antioxidant, e. g. An effective natural antioxidant is vitamin E, which, like BHT and BHA, is a phenol. Vitamin E, is more expensive than the synthetic antioxidants. Vitamin C (ascorbic acid) and sulphur dioxide. An acidic antioxidant like vitamin C can slow down the fast browning of a piece of apple exposed to air. Sulphur dioxide and sulphates(IV) also act as antioxidants (or reductants) which preferentially react with oxygen and prevent the oxidation of ethanol to ethanoic acid in wines.

Indigenous Australians and Native Hawaiians Essay Example for Free

Indigenous Australians and Native Hawaiians Essay Indigenous Tourism is about reciprocity among humans and landscapes–learning to responsibly manage the impacts of tourism activities in ways that benefit local communities economically, socially, culturally and ecologically1. Indigenous Tourism encompasses tourism product that provides consenting contact with Aboriginal people, culture or land. The term is also applied to businesses that are either Aboriginal owned or part owned or that employ Aboriginal people. Indigenous Tourism encompasses all tourism product opportunities – Cultural Heritage, Adventure, Rural, Leisure, Educational, Arts and Crafts and provision of tourism services2. Indigenous History of the Australian and Hawaiian people The Indigenous cultures of Australia are the oldest living cultural history in the world, going back 50,000 – 65,000 years3. Their heritage was kept alive by passing their knowledge, arts, rituals and performances from one generation to another3. Similarly, the Indigenous Hawaiians had no form of writing and preserved their history through chants and legends. Both cultures suffered heavy losses from the discovery of their lands by European explorers, with Indigenous Australians facing trauma such as the stolen generation, and the Native Hawaiians having their culture and language discarded and forced into speaking English and adapting to the European culture45. In more recent times, both cultures have experienced resurgence in encouragement to embrace their cultures. Gatherings and addresses in Australia now acknowledge the original custodians of the land they stand on,6 and there are now Indigenous Australian Football and Rugby League teams, both called the Indigenous All Stars7. In the 1990s for Native Hawaiians, several factors led to big changes. The majority of sugar and pineapple plantations shut down, while different agricultural crops like macadamias and coffee beans took over. Film and television also contributed to the growth of Hawaii’s tourism industry. Similar to the official apology issued to the Aboriginal People by Kevin Rudd in 2008, President Clinton passed a public law in 1993 formally apologizing for the overthrow of the Hawaiian monarchy in 1893. 8 Land is important to Indigenous Australians as it is fundamental to the wellbeing of Aboriginal people. For Indigenous Australians, the land is the core of all spirituality and this relationship and the spirit of country is central to the issues that are important to Indigenous people today9. In contrary, the Native Hawaiians view family or â€Å"ohana† as important. The ohana provides food, shelter, and education for their children, giving them emotional support, love, and security. 10 Attractions The most popular activities undertaken by tourists who travelled to Australia in 2009 for the purpose of Indigenous tourism were Aboriginal art/craft, visiting Aboriginal sites and attending an Aboriginal performance. Experiencing Aboriginal art/craft or a cultural display was the most popular activity with 75% of Indigenous Tourism visitors participating in this activity. Second popular was visiting an Aboriginal site with attracted 39% of the visitors, while attending and Aboriginal performance attracted 27% of visitors11. In Hawaii during 2011, Local shop/artisans (71. 3%) were popular with U. S. West visitors, particularly on Kaua‘i (77. 4%), Maui (75. 4%) and Kona (71. 4%); but less so on O‘ahu (61. 4%), Hilo (42. 6%) or Lana‘i (19. 8%). 12 Economic Impacts Nationally, the nature-based tourism sector contributes $23 billion to the Australian economy each year. It is estimated that Kakadu and Uluru-Kata Tjuta national parks alone contribute more than $320 million a year to regional economies in the Northern Territory, with about 740 jobs either directly or indirectly associated with park visitation (Gillespie Economics and BDA Group 2008)13 Tourism is one of the few sustainable livelihood activities accessible to rural or remote indigenous Australian communities. This also means that actual wealth is created, rather than wealth created through Government handouts. 14 Contrary to the positive impacts Indigenous tourism has on Indigenous Australians, tourism in Hawaii isn’t as beneficial to its native residents. Most money made through the Indigenous tourism industry goes right back to owners of the land and hotels, who are often foreign as almost every major hotel in Hawaii is owned by foreign investors and is being funded by foreign investment. 15 Environmental Impacts Indigenous tourism in Australia for the most part has no environmental impact, as most indigenous activities involve respecting the land. Also, the Australian government has worked with the Indigenous Australians to return land to them that was taken over twenty years ago. 16 In Hawaii however, as many foreign investors move to Hawaii to start large business, such as hotel chains or casinos specifically designed to make money off of tourists, many Native Hawaiians have been evicted from their own land to make way for these developments. The surrounding beaches of Hawaii also become polluted from the boats people use to get to the island, as well as the jet skis people ride along the coastline. 17 Socio-cultural Impacts While the economic and environmental impacts of Indigenous tourism on Indigenous Australians are mostly positive, the socio-cultural impacts aren’t always positive. Lack of information, false impressions, misinformation, poor communication and poor knowledge can lead to Indigenous Australians feeling as though people aren’t properly appreciating or respecting their culture. 18 In Hawaii, Native Hawaiians feel alienated from their own land, as it is taken from them and turned into hotels and resorts. Many Native Hawaiians also feel as though their culture is losing meaning as it is being used increasingly more as tool to make more money. 19 Analysis of bias in sources Most sources used in this assignment were Government sites or reports done by experts, which are free from bias and simply present the facts. However a few sites were written from the perspective of locals in their respective countries and it is likely that these sources were not free from bias as many locals, especially those in Hawaii, who felt quite hostile towards those in the tourism industry. Conclusion Indigenous Tourism in Australia appears to be on the right track, as the Government has and still is working with Indigenous Australians to develop tourism in a way that is considerate of their beliefs and customs. In Hawaii, however, much work is needed to develop tourism in a way that considers the customs and traditions of the Native Hawaiians, as well as their feelings. Some control of the tourism industry needs to be handed back to the traditional custodians of the land, and more intervention from Governments is needed to protect the environment from pollution and overcrowding. Bibliography Culturalsurvival. org. 2014. The Aloha Industry: For Hawaiian women, tourism is not a neutral industry. | Cultural Survival. [online] Available at: http://www. culturalsurvival. org/ourpublications/csq/article/the-aloha-industry-for-hawaiian-women-tourism-not-a-neutral-industry [Accessed: 3 Mar 2014]. Hawaiitourismauthority. org. 2014. Historical Visitor Statistics Hawaii Tourism Authority. [online] Available at: http://www. hawaiitourismauthority. org/research/reports/historical-visitor-statistics/ [Accessed: 4 Mar 2014]. Indigenous Tourism in Australia. 2014. [pdf] Australian Government. http://www. waitoc. com/wp-content/uploads/2011/06/Indigenous_Tourism_in_Australia_FINAL. pdf [Accessed: 5 Mar 2014]. Slideshare. net. 2014. Tourism Impacts on Indigenous people. [online] Available at: http://www. slideshare. net/guest809599/tourism-impacts-on-indigenous-people [Accessed: 5 Mar 2014]. Sustainabletourismonline. com. 2014. Indigenous Tourism Sustainable Tourism Online. [online] Available at: http://www. sustainabletourismonline. com/indigenous-tourism [Accessed: 5 Mar 2014]. Waimea. com. 2014. All about Hawaii Culture. [online] Available at: http://www. waimea. com/culture. html [Accessed: 4 Mar 2014]. www. hawaiiactivities. com. 2014. Hawaii tours activities, fun things to do in Hawaii | HawaiiActivities. com. [online] Available at: http://www. hawaiiactivities. com/ [Accessed: 3 Mar 2014].

Characteristics Of The Hospitality Industry

Characteristics Of The Hospitality Industry Explain the unique characteristics that separate service businesses from other business the deal with tangible product. Discuss what should a person prepares if he/she wants to become an hotelier. Question 1 The hotel industry is also known as the service sector. The reception and entertainment of guests, visitors, or strangers with liberality and good will. Hospitality industry is a board of category about the service industry also including event planning, theme park, restaurant, lodging and also tourism industry. A hospitality unit such as a restaurant, hotel, or even an amusement park consists of many groups such as facility maintenance, direct operations management, marketing, and human resources. Therefore, hospitality industry also includes accounting, tradesman ship, computer services, restaurants, and tourism.To be a successful manager in the hospitality industry, you must exhibit many skills and command much specialized knowledge all directed toward achieving the managerial objectives such as make the guest feel welcomed, make sureproductsor serviceswork for the guest and make sure the operation continues to provide service and make a profit. Besides that, the hotel industry is a multibillion-dollar industry, mainly depends on the availability of leisure time and disposal income. Therefore, that hospitality industry also include service sector. Answer Hospitality industry has many characteristics such as intangible, perishable, inseparable, simultaneous, variable, shift work, graveyard shift and guest satisfaction. Intangible servicecharacteristic in hospitality industry mean cannot see and touched but can felt. In addition, sales or service owned by the person, but it cannot be opened, from the service providers to service consumer. Example, a service only can be sold and owned by the person, but it cannot be opened, from the service providers service consumers. Sole proprietorship, provide services, can be entrusted to the service provider, you must generate and provide services in the different requirements of the authorized service consumers. Perishable service characteristic in hospitality industry mean wont last long and wont experience the same experience. When this service has been fully rendered to the requesting service consumer irreversibly disappear, because it has been consumed by service consumers. For example, service resource allocation processes and systems to provide services within a certain period. When the service has really given to users of the service request, this particular service irreversibly vanishes as it was used by the service users. Inseparable service means production, and from the customers experience. The indivisibility requirements, consumer service is to interact with its manufacturer to accept its benefits. Because someone must timely produce and the services provided by service providers is essential to provide services require service consumers. Performed automatically in many cases, but the service provider to provide the service must be prepared to allocate resources and systems, and active conditions and the ability to maintain appropriate services. Example, the service consumer must be sitting in the shops and hair stylist chair, or aircraft and seating, to the hairdresser or the pilot must in the same store or aircraft, respectively, to provide services. Simultaneous service means the service is some kind of horse, and at the same time consumption. As long as the service requirements of service consumers, especially the service must start from scratch generated without any delay and friction and services, consumers instant consumption rendered interests, for the implementation of his upcoming events or tasks.Example, waiter in the restaurant, or the cashier at the bank, is an integral part of the services provided. The client also participates in a certain degree of service, and the service may affect the results. People can be part of the service itself; this could be a service marketing advantage. Variable service is a service which means disposable generating, rendering, and consumption can never be accurately repeated time points, locations, and the case, under the conditions of the current configuration information and alocation of resources is different from the coming up delivery, even is the same kind of service to the same service consumers request. Example, Taxi service from his home to the opera, the consumers of transport services is different taxi service, transportation service consumers from opera to his home another point in time, the other direction, might be another route, may be another taxi drivers cab. Shift work in hospitality industry means an employment practice, use of, or the provision of services across, all 24 hours of the clock each day of the week. Shift work is the way hours of work are organized for an organization to operate outside regular hours. Different types of shifts includeshifts that rotate or change, shifts that are split apart by several hours, permanent shifts (day or night) and also changing shift lengths (8, 10 or 12 hours). There is few effect of shift work, for example, shift work can course such as digestive problems, including ulcers, stomach and intestinal problems reduce appetite, diabetes, epilepsy, asthma and depression. People need to sleep. Shift work can affect how much sleep and sleep, the kind you get. Sleep during the day and sleep at night is not deep or refresh. Shift workers time to sleep when the bodys natural activities gear. When you do not sleep, you might always feel tired. Especially the night shift, night shift or third shift (3 shifts) means to change their work throughout the early morning, morning, and transfer to midnight to 08:00 or 23:00 to 07:00. Example, employee will make day shift and night shift in hotel when the time is alternative. Guest satisfaction in hospitality industry means that the guest was satisfy with the service of the employee. Guest satisfaction depends on hotel service because guests have rising expectation for hotel, but their overall satisfaction with service. Guest can be satisfied hotel rates hotel service.Example, guest feel satisfy with the service and what they expect to hotel. Conclusion At the end, as an employee must have a good service to any customer. Guests satisfywith the service and will be happy with the good service.The hotel industry will contributes employment and economic growth of the country. The government is very lenient regulatory and licensing of hotel, because the increase in the average daily rate of foreign tourists. Question 2 The hoteliers mean a people who supervise or manage the hotel. He or she may be established owner, operating a hotel, the Chief Executive of the hotels location, or chain, or in the hotels general manager, the Chairman of the Board. Hoteliers responsibility will vary according to how the word is applied. Who owns a hotel will be responsible for the care of all matters of common ownership of real estate, as well as the implementation of the ultimate liability for any and all taxes and appropriate compliance-run hotel building codes and local laws. The title hotelier Chief Executive will supervise the publicity and general business operations, and facilities responsible for the profitability of the owners or owners. Hotelier who is the Chairman of the Board will provide the current status of the communication line, investors and the owners of the hotel, and the hotel manager will provide oversight of a variety of functions, affect the day-to-day operation of the hotel.As a hotelier has responsible to handle each problems such as public relations, guest service, maintenance of facilities, reservation procedures, build relationship with customer and marketing. No matter what department you work in the hotel we also call hotelier. Depending on how the term is applied, the responsibilities of a hotelier of department is difference. A success hotelier must have good relationship with guest especially regular customer. Answer To be a successful hotelier in the hospitality industry you should be discipline, manners, good services, more experience, responsible and so on. As a hotelier has responsible to handle problems such as public relations, guest service, maintenance of facilities, reservation procedures, build relationship with customer and marketing. Hotel operators managing the property and, in some cases, they can also be the owner of the hotel. Hotel managers supervise other hotel, and they work long hours during peak travel and when events are scheduled at the hotel. They are often called upon to handle emergency situations and disputes. For good performance, hoteliers should have the skills required for the position.Therefore, as a good hotelier must be very discipline during working time. Besides that, to be a good hotelier also need to be responsible. It will show that you are good employee and good staff. First of all you must make the guests feel welcome and also be friendly because it is manner. You must be discipline and good service in front of the guests. To be a good hotelier you should know what their guests want and are willing to go that extra mile to put them at ease. Secondly, to be a good hotelier you should be hard working. Willing to work hard is always a plus point for a people who want to be successful hotel management line.Therefore, it is the opportunity to build a good relationship with the guest and enhance the reputation of hotel. HOW TO BECOME A GOOD HOTELIER The hotelier is a good diplomat, patience, tolerance, generosity and good intentions. A good hotel operator must have self-discipline staff, quick workers, and quick thinkers and always to help client and manager at all times. Diplomat Diplomat mean is a person who appointed by the national diplomacy with other countries or international organizations. Representation and protection of the people are the main functions of diplomats around the state and sent, as well as the promotion of information and friendly relations.As a diplomat can easily build an own relationship with the customer and day by day they will become a general customer of hotel. Patience Patience in hospitality industry means whatever the guest scold you, you cannot scold them back.Resistance state in difficult circumstances, this may mean that persist in the face of delay or provocation, no worries, anger, a negative exhibit patience when under pressure, particularly when faced with a long-term problem. Tolerance Toleration in hospitality industry means a person who tolerates something or somebody unpleasant. Toleration is meaning the practice deliberately allowing or permitting the things one does not agree. Many people are sometimes dont know how to behave themselves and also dont know show some respect to other people; so thats why we have to be tolerate and patience. To be a hotelier everyday will face difference temper of guests, so as a hotelier should be tolerate and not to argue with them. Also, as a hotelier should give what they need to make them feel satisfy. Guests always are the right whatever happens so as a hotelier should be toleration and also patience. Liberality When employee facing any high demand guests, we should need to be liberality and keep smile to serve our customer until they satisfy with the service. Any guest that is high demand, we shouldnt complain it because it will affect the whole hotel and will give a bad image and impression to the hotel. As a good hotelier must be professional during working time. Good Will Good will means willing to help each other when facing problem. Good will is one of the important things to any hotelier because it always reminds us to be helpful to our guests and also help them to solve problem. Front office staff is the first employee to serve the customer. So that why good will is very important to any front office staff. Conclusion It is not easy to become a hotelier, but it is not so difficult. It depends on how to treat customers, if you use your heart to your guests, they will feel. Most of the students have chosen the hotel management, because working in the service sector is very interesting and funny. Enterprise management is very useful for our future operations, but it is very boring, which is why I chose the hotel management. Another reason to select the hotel management, we can see so many different customers and increase our knowledge. When you have experience in the service industry, and then set the target a certain extent, the growing knowledge does not always stay in the same place, become one industry professionals. Peter Drucker pointed out that, today, the centre of our social productive forces, knowledge workers. In other words, knowledge is the key to success, do not know is equal. Unfortunately, remain forever in the failure. Thus, learning as an important part of our comprehensive preparat ory work supervisor or manager career.

Should the Internet be censored? Essay -- essays research papers

Should the Internet be censored? From colonial times to the present, the media in America has been subject to censorship challenges and regulations. The Internet has become a vast sea of opportunity. Everyone is seizing the moment. The good and the bad of society have reduced the meaning of the Internet. Menace threatens each onlooker, as people browse the many pages of Cyberspace. As the new technological advances help to shape our society, one cannot help but think of the dangers waiting to prey on anyone. The Internet should be censored, because there needs to be some protection against the criminal minds that dwell in society. If the problems concerning the Internet are not irradiated in its early stage now, it could fester into something cancerous. This cancer could easily turn something that should be in the best interest of society, into society’s worst nightmare. The part of society that is most opposed to censoring the Internet argue that placing restrictions on Internet usage is in direct violation of the First Amendment Rights of the Constitution. This right was established long before the Internet was even inkling in someone’s imagination. By restricting web site content, society freedom of opinion and expression are oppressed (EFF, www.eff.org/freespeech.html July 1990). The Internet allows everyone in a group to have the same opportunities for engaging in and partaking of debates. Even people with disabilities, who are very often excluded from other media outle...

Human Nature :: essays research papers

Human Nature   Ã‚  Ã‚  Ã‚  Ã‚  After reading Bobby Anne Mason’s short story, â€Å"Shiloh†, I discovered her overall purpose for writing it. This essay discusses the overall purpose she used to write â€Å"Shiloh†, as well as what incites into human nature that she offers us through her characters. This essay will use specific examples from the story to convey Mason’s point.   Ã‚  Ã‚  Ã‚  Ã‚  The character Leroy, was a victim of a highway accident, and is drastically changing his life style because of it. He made many promises to his wife Norma Jean when they got married at the age of 18. He couldn’t pursue these promises because of the long hours he had as a truck driver. Since he would be home a lot more after the accident, he wants to build a cabin for Norma Jean, something that he promised her since the day they got married. Norma Jean doesn’t want the house she has always dreamed about or even want Leroy’s company. Even though the couple has been married several years Leroy is aware of the several differences they have. Norma Jean has a lot of knowledge about cosmetics, and Leroy thinks fondly of the other petroleum products-axel grease and diesel fluid when she talks about her cosmetics. He thinks his being home a lot more, would allow for new marriage, or fresh start. However Norma Jean doesn’t share the same feeling about the homecoming. She never complained about his traveling and long absences but also is not celebrating his permanent homecoming very happily. Sometimes when she comes home, she is startled to see her husband, and sometimes looks disappointed. Leroy’s newly occurring presence has allowed Norma Jean to realize that she doesn’t love her husband like she used to. As for Leroy he can now appreciate what his wife does, and even joyously sits down and listens to his wife play the accordion that he bought for her birthday a few years back. Leroy begins to notice changes in other aspects of the couple’s relationship.   Ã‚  Ã‚  Ã‚  Ã‚  Before the accident, when Leroy came home, they used to stay home watching television and playing cards. She would always cook and clean up the mess from dinner. Now, she is never home, leaving a cooling place in the bed. But when she is there Leroy still sees things about his wife that he never realized before. The things tat were familiar to Leroy are gone but now is recognizing habits of his wife that he never had the chance to admire.

Democrats and Republicans

Aida Krafess Rosie Branciforte ENC 1101 April 8, 2013 Democrats and Republicans The United States of America is known to have two major political parties. The Republican party and the democratic one. Both parties are based on views and principles being completely opposites of each other. The Republican party is known to be a conservative party, while the democratic party is known to be liberal. Two concepts that are opposites to each other.The democratic party will most certainly convince the majority of the people that it is the ideal party to remain in office because it promotes economic equality, it advocates civil rights and individual freedom, and because it is a liberal party. The two major U. S political parties have different policies and views. These two parties being Democrats and Republicans. Economically, republicans promote more equality because their taxes are the same for everyone. This means that taxes should not be higher for people with a higher income or lower for people with a lower income.They also believe that by minimizing government spending they would be able to balance their budget. Republicans also support the constitution to the highest degree. They are convinced that its laws are flawless, and want the constitution to become the base of U. S law, and do not believe in the majority rule. A rule that states that the vote of of the majority of the people should either make or banish a law. Republicans are also known to be conservatives. The word conservative is defined as the holding to traditional attitudes and values and being cautious about change or innovations.Republicans would very much like to live their lives the way the founding fathers of America had without having to go through change or innovation. (Gould 565-483) At a first glance at the economic views of the republicans, it is common to find it more equal. However, why should a person that makes minimum wage pay same taxes as the C. E. O of an international corporation. T he democratic party has different points of views on tax reform policies. The party believes in equality therefore it constructed its 2012 tax reform policy to cut taxes for every working family, and not for millionaires. Black, 565-483) This means that every working family still pays taxes, however their taxes would be cut, meaning they would be paying less taxes than before. As for the â€Å" millionaires† and higher class of society they will still pay the same taxes as they did before. This policy is more likely to be considered as equal because it is not rated fair when people from different social classes with a big difference in their incomes pay the same taxes. Especially because the taxes will eventually be lowered for the lower classes because they would be unable to afford paying the regular and high taxes.This will also lead in the cut of taxes for the high social class, which then makes the whole concept unequal. Not just for the people but also for the national economy (Witcover, 791-545). A democracy is a system of government by the whole population or all the eligible members of a state, typically through elected representatives. The democratic party is also known for being the party of the people. It is the the oldest political party and has origins that fall back all the way to Thomas Jefferson, and Andrew Jackson.Thomas Jefferson was one of the founding fathers, one of the main authors of the Declaration of independence, and the third president of the United States. As for Andrew Jackson he was the seventh president of the United States and influenced his followers to create a modern democratic party. In a democracy it is essential for everyone to vote. It is considered as defending a point of view and opinions (Bass, 437-83). The democratic party is mostly concentrated on making all the people have equal rights, both women and men. Allowing each of them to have individual freedom.A freedom that a person has full control over until it is misused and breaks the law. The democratic party is for women having complete right to make their own decisions. For example, if a women decides to get an abortion, it would be possible for her to do so. (Black, 565-483) It remains a choice the woman has to make. A choice that is not restricted by law. In a democratic party, people are allowed to vote to promote what they would like. For example if it is illegal in a state for a homosexual couple to get married, and the majority of the state votes for this law to be banished.It is most likely that gay marriage will become legal in that state. These concepts all advocate individual freedom, and equality (Bass 437-84). The democratic party is a party that favors liberal positions. The word liberal is defined as being open to new behavior or opinions and will to discard traditional value (Bass 437-84). Modern American liberalism unifies social liberalism, social justice, and a mixed economy. Theses three theories have allowed abort ion rights for women, gar rights, and government strategies for education and healthcare.Liberals also favor diplomacy over military action. Which could only make the people of any country feel safer. Diplomacy would help resolve many word conflicts, and could even prevent war, or incidents that might result in tragic outcomes. Liberals also favor the separation of church and state. This measures the restraint between a religion and the way laws of a nation are built. All of these facts influence the chain of thoughts democrats have. However, their chain of thoughts could not be influenced by a bias opinion based on religion or tradition.It could only be influenced by current events, and new ways to deal with different and repeated situations, and by the majority of votes (Witcover, 791-545). To conclude, in this actual context, the socio-democrat political model of the democratic party seems to be the one that fits best the expectations of the vulnerable population. This political party also compromises between the conservative values of the american society and its constant changes. Therefore,   the arguments mentioned above explain the mandate renewal that americans expressed in the last elections.Works cited Bass, Harold Franklin. Historical Dictionary of United States Political Parties. Lanham, MD: Scarecrow, 2000. 437-84. Print. Black, Earl, and Merle Black. Divided America: The Ferocious Power Struggle in American Politics. New York: Simon & Schuster, 2007. Print. Gould, Lewis L. Grand Old Party: A History of the Republicans. 1st ed. New York: Random House, Inc. , 2003. 565-483. Print. Witcover, Jules. Party of the People: A History of the Democrats. New York: Random House, 2003. 791-545. Print.

Public Speaking †Sharing and the Future Essay

Here’s a thought for you. What is the worlds greatest computer? Mac? PC? How about the huge mainframe computers they have at Nasa? No. You see up here, in our heads. This is the greatest computer. And your eyes, I see you still all have your eyes open, that’s good. But do you know what you are seeing? I mean really seeing. Every second, every single second your eyes take in 72 gigabytes of information. The world’s greatest camera. Now is that not incredible? A computer and a camera. And this data, this code, is up here behind the firewall of our personality. 6 billion neurons, evolved to understand, to translate, to give us our vision of the world around us. The mountains, rivers, great Savannahs, every animal in all their incredible shapes and sizes†¦ Friends family, lovers, the people around you now. Everything and everyone you have ever met are all up here. They are all stories, memories charged with emotion. Your happiness, your sadness, your joy, frustration your loves, your loves lost. And this collection of stories makes you. An ongoing project that only comes to an end when we die. Your memories are your life. Above all we have a genetic imperative, a unique desire, to share. What makes us human? Our sense of self and our ability to share who we are. Our greatest gift. Lets rewind a little. Cave paintings. First we paint to say I was here. Then we paint to say why we are here, to pass on knowledge, experience. To build on what we know. For this is evolution†¦ sharing for survival. We share more and more, now we share our fiends, we share our favorite on Youtube, our location, we share photos, maybe sometimes even a drink. Every time we share we are reflecting our personality. Our selves. But this is normal. Innovation changes the game. Always. 20,000 years ago. 1,000. 10 years. Tomorrow.  It doesn’t matter. Interference is a good thing. Whether it be a smile or a tattoo, the phone in your pocket. Disruption and interference of all sorts, creates rifts and makes possible unimaginable leaps forward in technology and communication. Today we see a world on fire. On fire with data. With information. But there is a revolution around the corner, nothing less than the total translation of our human emotions, these urges into information. Pure communication. I believe we are at the frontier. Ahead lies the internet of us. An internet of pure emotion – genuine connection. To finally take us beyond the cave painting. This is not science fiction. Doctors can talk to people in comas, you can control a toy with your mind. This is now. A world of shared emotion. Where the greatest experiences are magnified, a million, a billion times. Can you imagine love? Now can you imagine a love that is a billion times more powerful? An empathy†¦ true feeling. A new future. A world that we will create, but the borders of language will be gone. Imagine what we would be able to achieve. The next generation of us is coming. For tomorrow is the future we all share. here is a thought for you, what is the worlds greatest computer? Mac?  PC? how about the huge mainframe computers they have at NASA? No. you see it Jo here in our heads, this is the worlds greatest computer. and your eyes, I see you still have your eyes open, that’s good. but do you know what you are seeing? I mean really seeing? Every second, every single second your eyes take in 72 gigabytes of information, the worlds greatest camera. Now is that not incredible. A computer and a camera. and this data this code is hidden up here behind the firewall of our personality. 86 billion neurons evolved to understand, to translate, to give us our vision of the world around us.

What Is the Need for an External Audit

The need for an external audit in the case of companies arises primarily from the existence of split-up of ownership from control. When control is shared an audit report will be needed in order to ensure that all the partners or be it shareholders are on the same page as the managers (the ones who will be controlling the company) and know what has been happening in the company, what is happening at present and what can be expected to happen in the future in order to increase returns in the company.The case of an owner controlled company is different as usually the manager will be working in the company and will be aware of everything that will be taking place and will not need an audit report to find out what is going on. Since the owner is alone in decision making, he knows about all the decisions that need to be made and will not find out through an audit report that maybe the company has decided to expand and open a new branch using the accumulated or retained profits.The audit in volves the client’s staff and management in giving time to providing information to the auditor. The auditors need part of the staff’s time as they will not know where the proprietary’s accounts are kept and in which way they are filed. To gather all the information that the auditor will use in making his audit report he has to get it through staff. Since most owner controlled companies are very small and the staff members are few, it will make it difficult for the Professional auditors to plan their audit to minimize the disruption which their work will cause.The audit might end up inconveniencing other stakeholders such as customers because service can become slow as one of the staff members will be assisting the auditor, giving him all the documentation that he needs and accompanying him around as he investigates the internal control measures that have been created in the company to see how effective they are. Application to lenders/financial institutions for finance may be strengthened by the submission of audited accounts.However some financial institutions, a bank, for instance, is likely to be far more concerned about the future of the business and available security, than by the past historical accounts, audited or otherwise. Audited accounts cannot predict the performance of the company in the future, which is the information that the Bank will be trying to find out. Therefore; audit reports are not an issue of paramount importance, especially in owner controlled companies.Not all owner controlled companies need to be audited. Auditing of companies does not depend on the type of ownership (that is, sole trader, partnership or co-operative), but it mostly depends on the size of the company at hand. There are laws that have been made in the U. K that exempt certain companies especially the small ones and the owner controlled ones from being audited. Instead of following all audit requirements, the owner controlled companies can subm it shortened accounts.The main differences that can be produced under the banner of abbreviated accounts basically mean that an owner controlled company does not have to include a full balance sheet, profit and loss account or directors report which would normally be required by Companies House. The owner controlled company is still required to submit a shortened balance sheet together with notes that explain the year end balances shown in the balance sheet. Under the audit exemption rules the year end accounts for an n owner controlled company do not have to include an auditors report.When an auditor has prepared the accounts and submits a special audit report that report should state that in the auditor’s opinion the abbreviated accounts are being submitted in accordance with the appropriate section of the Companies Act. To qualify for being able to file shortened accounts a small company should satisfy at least two of three conditions. The three exemption conditions prior to April 2008 were that annual turnover is less than 5. 6 million pounds, balance sheet total is less than 2. 8 million pounds and the average number of employees is less than 50.Where the financial year started after April 2008 the parameters increased to, annual turnover less than 6. 5 million pounds, balance sheet total less than 3. 26 million pounds and average number of employees less than 50. When an owner controlled company satisfies the audit exemption parameters it can maintain that audit exemption for a full financial year afterwards even if the parameters were exceed in that following financial year. There are benefits in submitting abbreviated accounts as simpler and easier accounting records can be maintained reducing time spent on accountancy work.In addition although potential suppliers and financial institutions may require details of the year end financial accounts it is acceptable not to publish full details. In China, Owner controlled companies have an exemption f rom the audit and this gives management for smaller companies some newfound flexibility, Alyssa Martin says. Companies may not have to produce as much documentation or perform as much testing to produce management’s assertion as they might have had to produce for the sake of the audit, she says. They can use other measures, like ongoing monitors or their own personal experience, to assess internal controls when they don’t have to have the external auditor auditing their process or leveraging their process in performing the audit of internal control,† notes Weaver’s Martin. Yong Xu, CFO for Jingwei International, says he was grateful to see the audit requirement lifted, even though the company voluntarily produced the audit for its 2009 financial statements and is planning to have the audit again in 2010. Jingwei International is a China-based technology services provider listed on the stock exchange and is owned controlled.However while the recent legislat ion exempts smaller companies from the audit of internal control, it doesn’t relax any of the requirements for companies to establish and maintain an effective control environment or to report on the effectiveness of controls, says Alyssa Martin, an executive partner with audit firm Weaver. That’s because the Dodd-Frank bill does not exempt smaller companies from Section 404(a), which is the requirement for management to produce its own report on the effectiveness of controls to mitigate errors in financial statements. â€Å"It doesn’t really change the role of management,† says Alyssa Martin. They still have to understand the design of internal control and assess the effectiveness. †Ã¢â‚¬Å"It’s not a cake walk. If you’re not documenting anything or doing anything, you’re not following the SEC’s guidance. †Ã¢â‚¬â€Jim DeLoach, Managing Director, Protiviti. Owner controlled companies should audit their accounts as th is reduces the Risk of Fraud. A number of factors affect the risk or exposure to loss from fraud, and some organizations suffer more fraud than others. The incidence of fraud in books of account is distributed unevenly. Some industries, some companies, some occupations, and some persons are higher risks than others.If accounts are being constantly audited, employees will comply with the regulations and do the correct thing; on the other hand, this can become a motivating factor in the case of employees as they know that changes in the company for better that have been initiated by them will be recognized. Many companies have embraced voluntary environmental audits, commonly known as self-audits, as a valuable business resource. Consultants and experts agree that the practice can be of enormous benefit to enterprises in all types of industries, for it addresses so many facets of a company's operations.For example, Barbara Ceizler Silver, author of Environmental Self-Audit for Small B usinesses, described the self-audit as a valuable â€Å"diagnostic tool† that can be used by companies seeking to identify and address compliance problems relating to air, water, land use, solid waste, and hazardous materials prior to submitting formal permit applications or other business processes. The practice of voluntarily checking compliance with environmental regulations through the practice of self-auditing has garnered considerable support from state lawmakers as well. As of 2000, environmental self-audits receive significant legal protections in 26 states.The body of law in these states maintains that companies can voluntarily test for violations and correct all previously undetected problems without legal penalty. Companies that report violations avoid financial penalties and receive additional time to rectify problems. Most significant of all, the results of self-audit tests and programs in these states receive significant legal protections from public disclosure The advantages of an audit report in owner controlled companies may be there, but the disadvantages far outweigh the advantages and therefore I agree with the statement that owner controlled business should not have audit reports.This is because this will be a large and unnecessary expense to the company and will result in the company spending large amounts on auditing which could have been diverted to expanding the business. There are cheap alternative methods that owner controlled companies can use to manage their companies than auditing their accounts and getting audit reports every year. (1503 words)References Abdel-Khalil A. R. (1983). Why do private companies demand auditing? A case for organizational loss of control. Journal of Accounting, Auditing ;amp; Finance, 8(1), 31-52 Proviti Flash Report on SOX 404(b) July 17 2004.Accounting and Audit Exemptions for Small Companies in the U. K-Terry Cartwright Environmental Self-Audit for Small Businesses: A Quick and Easy Guide to En vironmental Compliance. New York Department of Environmental Conservation, Empire State Development, March 1998. Geltman, Elizabeth Glass. A Complete Guide to Environmental Audits. ABA, 1997. Power, Michael. â€Å"Expertise and the Construction of Relevance: Accountants and Environmental Audits. † Accounting, Organizations, and Society. February 1997. Environmental Self-Audit for Small Businesses- Barbara Ceizler Silver

Microeconomics: concepts, analysis, and applications Essay

Southwest Airlines is an organization in the Airline industry and it has remained to be a competitive leader in this industry since its inception. It is the America’s largest low-fare carrier and domestically it serves huge number of customers than any other Airline. This organization operates more than three thousand flights daily. Southwest Airlines operate under an environment with intense competition; however, its marketing strategy has helped the organization to have a competitive advantage over its competitors. In all southwest Airline marketing communications, it positions itself in America as the only short-haul, low-fare, point-to-point, high frequency carrier that is fun to fly. Once the organization enters into a particular market the following changes are experienced; economic mini-boom occurs, tourist traffic increases and air fares go down. Airline industry is highly volatile, however southwest airline has remained relevant in the industry and also profitable eve ry year meaning that it has been profitable for a period of 31 years. For most of year 2000, the organizations 9 billion dollars market capitalization is more than the combined market capitalization of every other Airline in United States. Southwest airline market strategy has ensured cost efficiency thus increasing the profit margins for the organization. Some of the most marketing strategies adapted by this organization include: using smaller airports which are less congested thus saving time, flying one type of aircraft only, and eliminating seating assignments and meal service. Even though southwest airline has been using these same marketing strategies, no other airline has been able to clone southwest’s success productively (Freiberg & Freiberg, 1996). In order to secure its market position successfully, southwest airline has been forced to be extremely cost-efficient. In this regard, southwest has designed a business model which uses short-hauls, single aircraft type, hub -and -spoke versus point-to-point, secondary airports all aimed at reducing the costs. Most organizations in the airline market utilize information technology like a platform aimed at sharing information from a given unit of business to another. However, southwest airline upholds a different approach. Southwest has strengthened the on-site operations agents’ roles who are entrusted with the responsibility to turn around every flight of southwest as fast as possible. In the airline market the operations agents have a responsibility for handling 3 to 5 flights at any one time but southwest strategy ensures that their operations agents are responsible in handling one flight turnaround. Southwest has established a culture where even pilots are willing to assis t in loading luggage so as to help in getting away in time thus saving time. This demonstrates flexible job boundaries existing throughout the whole organization where any individual is very ready to pitch in wherever needed (Lauer, 2010). Avoiding delays is the key to profitably running an Airline with turning around the planes. In the airline industry market, in a case where a delay is experienced in the airline market, they try assessing whether this was as a result of led by the ramp agents, baggage handlers, refuellers or any other functional department. However in Southwest airline delays are recoded to be team delays. Through being less precise concerning the delay cause and assessing performance through metrics which matter to the consumers. In this regard southwest focus more on learning ways of avoiding a repeat of such instances in the future compared to accountability. Airline industry in United States has experienced high price in regard to intra-Texas air travel and southwest was envisioned and was able to respond to this issue through coming up with the suitable solutions. Southwest provides a travel product which is in built around flights which are targeted to particular ticket pricing and demographics that is simplified in order for the passengers to realize what they actually getting for their money paid. Before the entry of southwest Airline into the airline market, passengers and business travelers were used to be pampered, paid full price however in the end they ended up being disappointed. Southwest strategies usually gave insomnia to other normal executives from the Airline industry. Southwest strategy shows an organization which is very unusual and very devoted towards their consumers and employees (Lauer, 2010). A niche exists in the Airline market where southwest Airline has extensive potential of future growth. Southwest has been built on foundation of strategic management. This strategy has helped this organization in taking it into a new level of superiority and expanding of the airline’s market. Therefore southwest possess an agg ressive strategy, planned to be a constant success (Lauer, 2010). There are definitive and clear boundaries between employees working in diverse functional areas in most Airlines. Most workers are able to interact well with their fellow peers however ignore those others who are below them in the organization hierarchy. In cases where there are delays employees tend to blame those who are lower in hierarchy than them for the delay. However, in south west they have created a culture where all employees treat others with respect despite of their levels in the organizational hierarchy (Lovelock, 1992). All employees acknowledge the distinct responsibilities played in keeping planes flying by different functional departments. Therefore everyone’s contribution to the organization contributes to the success of the organization and thus every individual is respected and acknowledged. This respect by all employees of the organization helps in appreciating the contribution of one another to the organization and there is a tendency to act productively in achieving the larger organizational goals (Bahreini & Willis, 1988). Southwest Airlines has utilized the following ten relationships in generating extraordinary performance; investing in front-line leaders, outstanding business relationship, hiring and training for relationship excellence, using conflicts in building relationships, using broad performance metrics, bridge work-family divide, creating the positions which span boundaries, partnering with the unions, build the supplier relationships, highly flexible job descriptions and using highly flexible job descriptions. These all ten organizational relationships are exceedingly complementally; however they only generate benefits when they are all utilized and implemented. In this regard these relationships work in unison and not in isolation. Substantial benefits of these relationships can be realized only all ten are present. This in turn realizes both negative effects and positive effects. The negative effects will be that it will necessitate making various changes on many fronts concurrently to a ttain it. On the other hand, the positive effects are that an organization which follows lead of southwest airline company and establish strong organizational relationships can accomplish great success. However, the outcomes of using the ten relationships as in the case of southwest can be both long lasting and impressive. Therefore, any company can improve efficiency and quality of its performance through adapting these relationships to its own specific needs (Tadajewski & Brownlie, 2008). Leadership in southwest Airlines is a distribute process. Senior management team is popular in the public arena however most of the actual work is performed by the supervisors who with frontline employees on a daily basis. Southwest Airline in reality has more supervisors per frontline worker compared other all other Airlines, and the organization succeeds at training these supervisors in providing leadership on issues occurring on daily basis. Supervisors in Southwest present the bulk of the organization’s counseling and coaching. Southwest also makes a conscious and deliberate effort of hiring employees who are excellent in working as a team (Lauer, 2010). This organization also endeavors at enhancing team building skills through offering their employees training for relational competence. In other organizations, there is an attempt of retaining and attracting high performers, but southwest instead of hiring the elites it gives high priority while hiring to those individuals who are capable of integrating with other team members smoothly. Therefore, this organization recruits individuals who uphold right attitudes and then offer them with the necessary experience and skills they require to succeed. Southwest has distinct labor relations and this has helped to eliminate occurrences of employees strikes in the organization. An Airline industry is an oligopolistic market where every seller supplies a huge portion of entire products which are sold in the marketplace. Since the cost of setting up a business is normally very high the number of the organizations entering in this market is usually low. Organizations in this market are able to control over the prices that they charge. Therefore, when one organization offers fair prices than others, then its competitors also usually introduces similar promotions. Southwest has been facing excess competition from other airlines however through exemplary marketing strategies an Airline that paying for jet fuel using a personal credit card and borrowing tools has grown to be a record-breaking profitable Airline company. Southwest was one of the factors that led to end of the airline industry regulation, therefore getting rid of the barriers facing those entering the industry and also encouraging competition. Southwest was primarily responsible for keeping, Love, midway and Hobby airports open (Stone, 1980). Southwest is still the leader in the airline industry and it is a no-frills carrier. In this regard, this Airline offers no reserved seats, no catering and no first-class. The primary goal of this organization is making air travel affordable to those individuals who could not afford it previously and not profit maximization. Southwest makes profit on average if only the last five seats on a plane are filled. This Airline as a regional carrier is unique. Southwest is popular among the passengers since they carry their customers’ non-stop from point A to point B. southwest provides no interline connections with the other airlines, except for Icelandic Air connections. This helps in wise use of time since airplanes are not delayed by ticket counter lines or connecting travelers. Their strategies have also helped in reducing the unemployment rates in United States. This is because in a case where an airplane spends exceedingly twenty minutes at the gate this will increase the loca l rates of unemployment (Pride & Ferrell, 1995). In conclusion, southwest employs marketing strategies which helps in ensuring that the organization is the most popular among the passengers. The southwest also has a culture of respecting all their stakeholders despite their hierarchy or role in the organization. All southwest employees’ works as a team and they are very motivated which improves their job satisfaction and productivity in the organization. All these marketing strategies highly contribute towards the success of southwest Airline Company. References Bahreini, M. H., & Willis, J. F. (1988). Microeconomics: concepts, analysis, and applications. Redding, Calif.: CAT Pub. Co.. Freiberg, K., & Freiberg, J. (1996). Nuts!: Southwest Airlines’ crazy recipe for business and personal success. Austin, Tex.: Bard Books. Lauer, C. (2010). Southwest Airlines. Santa Barbara, Calif.: Greenwood. Lovelock, C. H. (1992). Managing services: marketing, operations, and human resources (2nd ed.). Englewood Cliffs, N.J.: Prentice Hall. Pride, W. M., & Ferrell, O. C. (1995). Marketing: concepts and strategies (9th ed.). Boston: Houghton Mifflin. Stone, M. (1980). Marketing and economics. New York: St. Martin’s Press. Tadajewski, M., & Brownlie, D. T. (2008). Critical marketing: contemporary issues in marketing. Chichester, UK: Wiley. Source document

Lehman Brothers Failure Questions Essay

Having taken part to the events occurring in this scenario only in a few occasions, and as the ultimate guarantee of rescue, the FED,in conjunction with FDIC and the Office of the Comptroller of the Currency, made decisions aimed to save those institutions, for instance AIG, Fannie Mae and Freddie Mac, whose failure would have had a greater impact on financial system’s wealth and perspectives of recovering from the crisis were reliable. This was the main reason for declining any proposal of action in favor of Lehman. Some argued that the company’s bankruptcy was an intentional choice rather than a â€Å"genuine error†, aimed to induce the restoration of higher degrees of financial discipline. However, had the government disposed a plan in favor of Lehman Brothers, this would have prevented investors from losing faith towards financial institutions, the financial system from freezing and economy from carrying the weight of the crisis Notwithstanding, further attempts to save Lehman Brothers did not came to completion for several reasons, not only due to Government stillness, but the giving out of other financial actors i. . Bank of America and Barclays. In an ultimate analysis is thus important to consider that the â€Å"unfair† practices were not carried on by the sole Government, but by all financial institutions acting in the system as a whole: every actor placed a risky bet, whose consequences seem difficult to be addressed to just one responsible. Do you think that the U. S. government should have allowed Lehman Brothers to fail? Although Lehman Brothers was the fourth-largest U. S. investment bank, it was seen by many analysts as the weakest of Wall Street’s biggest firms. It is plausible therefore to think that the government willfully took the decision to let it go bankruptcy, in the purpose to restore a certain degree of indipendence from the market, and serving as threat for other institutions preventing them from adopting hazardous behaviours. The government decision of non-intervention had immense costs both in terms of financial losses inflicted to the credit market operators and institutions, and of lost in confidence in the market itself, that eventually turned into terror and paralyzed the credit market worldwide. Indeed investors’ confidence in th market and general concerns about the security of the banks continued to plumb during Lehman Brothers’ stock value erosion and afterwards. Nonetheless, consequences from Lehman Brothers’ bankruptcy had spread in a broader sense affecting all clusters of stakeholders: for instance, it could be mentioned the forced lay off of up to 1,500 people, which amounted to about 6 percent of Lehman’s work force. With hindsight, the decision of the US Government to allow such a giant as Lehman to fail is difficult to support, especially considering the devastating negative impact it had in a long-term perspective. Almost no objection that it should have been a critical decision to take at that time. It indeed brought the evidence that the financial market needed a shock, which unveiled some crucial problems and send a clear message to the banking system, proving that â€Å"too big to fail† companies were likely to face collapse as well, though no one would have believed this before. Many experts argue that when the government bails out a private financial institution it creates a problem called â€Å"moral hazard,† meaning that if the institution knows it will be saved, it actually has an incentive to take on more risk, not less. What do you think? Moral hazard, or, in other words, the willing of companies to act recklessly, bearing large risk exposure, has the consequential effect of distorting competition, thus mitigating risk perception and allowing excessive risk-taking, which is ultimately transferred from financial institutions to the society as a whole. This had been a controversial argument , largely discussed in the light of the financial crisis of 2008. The core of the debate was to what extent did moral hazard caused the crisis, and to what extent did government’s guarantees of rescuing perpetuated an hazardous behavior among market players. The moral-hazard argument is not only due to eventual interventions from governments, but is increasingly being considered by expertise as an inner element of a company’s strategic policy, drawing the shape of the decision making process in the interest of the company itself. However, corporate decisions are rather made in the interests of individuals than for the company as a whole, which causes a loose the connection between those interests and the company’s long-term health assumption. The possibility to gain short term benefits, at a relatively low cost, leads to reckless behavior regardless of eventual bails out from governments, with long term costs that hardly find responsibles to pay them back. One key factor is indeed limited liability, which allows investors and executives, ultimately liable for companies’ decisions, to enjoy the benefits of their risk-taking, while eventually limiting their exposure. The Government is responsible for contrasting moral hazard practices and maintaining investors’ confidence in the stability of both financial and economic activity, ensuring that the system don’t suddenly shut down in a panic. It can happen that, indeed, the expectation of further intervention from regulators and politicians may be an incentive for hazardous practices itself. However, moral hazard is an intrinsic disease of corporate strategies, thus of the financial market, whose antidote only relatively depends on government rescuing hand upon financial institutions. References James K Glassman ,The Hazard Of Moral Hazard. Commentary. New York: Sep 2009. Vol. 128, Iss. 2; Pg. 28, 5 Pgs James Surowiecki ,Hazardous Materials; The Financial Page. The New Yorker. New York: Feb 9, 2009. Vol. 85, Iss. 1; Pg. 40 John M. Berry, When Too Big To Fail Gets Too Chaotic To Manage,The Fiscal Times, May 10, 2010