Monday, September 30, 2019
Political Aspects of Criminal Justice Essay
Introduction            A criminal justice system in any country is enshrined in the country’s executive branches. It is usually enshrined on the judiciary arm of the government and handles all criminal cases and decides who should be prosecuted. (Shaffer & Herington, p36-40) The criminal justice system is also entrusted with the structures that comprise the whole justice system. It comes up with the provisions that cater for emergence of new crimes. It also enforces the laws to make sure that everyone complies with them to maintain and enhance order in the society. The criminal justice system is comprised of all the justice systems right from the local to the national levels (Bonnie, p688).The degree of criminal offence determines the structure that should handle it. Minor crimes can be handled at the lowest level, for instance, by police who maintain order by arresting and assigning some punishments to the offenders and eventually releasing them. This system involves cooperation of the people at the grassroots level. (Alexander, p67-78)            Criminal justice system enhances internal protection of the citizens. Citizens are protected from the internal enemies who are out to cause harm to them. It also checks the excesses of the offenders and instills fear in them. This system has played an important role in tracking down criminals and ensuring that justice is done on the offenders. For instance, murderers, robbers, drug traffickers, rapists have been tracked down and put behind bars, thanks to the criminal justice system. This promotes security in the country and promotes the freedom of movement. People can move from one point to another without the fear of being held hostage, kidnapped, raped or killed. As a result people are free to pursue their common good and can even engage in money generating activities or other businesses that promote their livelihood. (Bonnie, p688)            Criminal justice system prevents war or clashes within a country. A sense of peace and harmony is maintained and hence they are able to maintain positive interactions. As a result, a cohesive society is created and everyone is able to pursue their businesses. (Neilstrong, p40-p40)            Criminal justice system has evolved over the years from a primitive era to an advanced era. The executive branch is divided into three stages at primary and secondary level. The three eras can be summarized as traditional (1776- 1899), transitional era which took place between (1900-1927) and finally nationalization era which fell between 1964 to present time. (Bonnie, p688) Traditional Era (1776-1899)            This is the earliest era of criminal justice system in America. It details the most primitive form of criminal justice system. During this time the justice system was devolved and people were in control of the most decisions affecting the country as well as the presidency (Shaffer & Herington, p36-40). During this time, the president was not in control of the country since decisions were made by the citizens. The community decided what problems was affecting them and prioritize them and finally came up with a modality on how to solve them. The decisions were not central, that is, left to the central government.            During this time, people were given proof on how their money was spent and therefore the executive would account for every single penny spent. The community based team which was in charge of solving problems being experienced in the community were prosecutors, police parole and probation officers, judges, church leaders, community residents and school leaders (Shaffer & Herington, p36-p40).These leaders were presenting the local community. All the decisions and plans were first handled by them before being handed over to the higher authority. It is worth noting that at this time the process of decision making was slow. This is because of the many levels that a court case had to go through before passing a judgment. The judgments passed were either very light or too harsh. For instance, slaves were beaten and tortured. Some even died in the process for committing very mild offences. There were no laws protecting them, and therefore they fell victims of abuses. If a slave was murdered by his master, no action was taken against him, he was not imprisoned. Unfortunately, it promoted a lot of evil against slaves who were blacks at this time. (Shaffer, p36-p40)            The justice system at that time did not cater for many crimes being committed. For instance, there were no legal systems put in place to punish government officials. There was detention without trial and in most cases some forms of dictatorship were evident (Alexander, p67-78). There were no rehabilitation centers for criminals and hence any criminal was either imprisoned and was not given a chance to reform and become a better person. The only advantage with this era was that it was not dominated by the presidency. People had a louder voice and were easily heard by the authority and therefore their needs were sorted out fast. The criminal justice system was felt even by those at very low levels. Transitional Era (1900-1927)            During this time, there were some changes being felt by the people. The devolution of the powers of the criminal justice system was not devolved like in the past. This era encouraged a more centralized form of government. The decisions began to be made at the top and gradually trickled down to the bottom. The criminal justice system stopped being too harsh on the citizens (Bonnie, p688). The citizens were beaten and locked up in the cells, and there were no developed mechanisms to investigate crime. Most serious crimes were left unattended and forensic laboratories were at the initial stages of development. During this time, however the taxpayers’ money was used to build better prison cells and therefore the torture chambers were done away with. It promoted fair trials and many people began to be prosecuted including the Whites. The cells promoted decency in handling human beings. (Neilstrong, p40-40)            The government began educating people about change and development. Proper government structures that deal with crime were set up. The people who handled criminal cases were more educated and understood the system better. There were open policies of discussion and leadership was promoted in all structures and systems of government. The leaders served as models to be copied by young citizens and therefore the justice system was streamlined. All the prosecutions were based on concrete evidence (Alexander, p67-78). The most evident thing about this era was that the criminal justice system was going through a process of change. People were hungry for better systems of government. They started to believe in the government since it was holding all the resources that they needed. They believed that only the government had the power to cater for all their needs. For the people to realize this change they had to give up some of their ambitions. Power without resources was nothing. Without the money and power structures, their money would always remain weak and they would not be able to guard themselves against enemies. The state was gradually being allowed to be in control. This is because all power was vested on it and they had higher control on everyone and every department. At this time prosecutors became generalists and started operating out of their decentralized offices. This way they were able to closely work with the police and the society on important issues that mattered most to the residents locally. (Shaffer, p36-40)            During this era, when people from all the corners of the country felt angry and isolated from the government as well as their representatives, then the better option was to move closer to the community whereby they felt that the community was responding well. However, the fear was that, the community could not give them much but only the state would. In America, some cities, for instance, New York began to experiment with the neighboring courts. The court did not only give out sanctions but also offer one stop shop for a number of services both social and economic. For example, drugs for treatment. This was aimed at coming up with solutions to solve the problems present at that time. There was proliferation of courts that dealt with drug cases in the whole country. This was a reflection of growth in appreciation and coming up with tailor made responses to answer to the concerns made locally. (Neilstrong, p40-p40)            At this level however, community policing was evident and people were responding well to the status of the government and cooperation was promoted in all areas. Nationalization Era (1964 to Present)            At this era all the decisions were made at the national level. The criminal justice system was centralized and all the decisions were made by top government officials. The presidency at this time assumed the role of Commander In Chief of the Armed Forces. The sitting president could not be prosecuted because he was the overall head. If charges were brought against them he gave a ‘no prosecution order’. This is called ‘nolle prosequi’. That is, he could not be prosecuted at any time. All the political decisions related to the criminal activities were handled by the state. The criminal justice system became more and more bureaucratic and lengthy. There was a backlog of cases since all the criminal cases were under one system. (Alexander, p67-78)            Nationalization era developed prisons and new ways of transforming the prisons was invested. Forensic laboratories were employed to investigate any type of criminal case. There were more developed and modern rehabilitation centers. Not any crime could land a person in prison. They came up with new techniques of measuring criminal cases. The people who were found to measure up to them were referred to rehabilitation centers to reform them. (Shaffer, p36-40)            The domination of the presidency and the desire to control the criminal justice system however promoted many evils in the state. For example many offences committed by the president have not been looked into due to his excessive powers. He is simply above the law. It also bred other evils such as assassination crimes. Most presidents have been known to assassinate their rivals if they pose a threat to their presidency. In essence, the presidency has abused the criminal justice system. All the powers have been taken away from the local government and it has rendered it a ‘toothless dog’ as far as criminal justice system is concerned. (Bonnie, p688)            From the nationalization era it is evident that the presidency has moved to dominate the criminal justice system on most of its issues. This can be explained from the excessive powers vested on the presidency. It practically controls all the other arms of the government, which means it is untouchable. (Neilstrong, p40-p40) The disadvantage with this situation is that it has on many occasions abused the powers and privileges vested on it. The presidency influences all the decisions made at the parliamentary level and influences the powers of the judiciary, and other organizations which oversee the work and activities of the government. For instance, organizations which are supposed to investigate the government’s unethical behavior. When investigations are made and concluded, they are never released. This is done to protect the image of the present government and the presidency. Offenders of such crimes are never made public. Despite the government having enough liabilities, it is always made to appear perfect and blameless. Nationalization era has bred very corrupt government officials. (Alexander, p67-78)            The US was not better in the earlier period. This is because; the state kind of government could not bring the resources closer to the people. They have very many states and a state government could not devolve the resources available equitably and equally. The federal government is therefore better and improved the economy as well as expanding the democratic space. The people now have more control of the local government and they can control the resources which have been placed at their disposal. For a country (nation) as big as US only a federal kind of government can work. A centralized state would encourage community policing which cannot be applied in the modern world. (Bonnie, p688) Conclusion            Despite the gains of a state government, I believe that for a growing state the federal kind of government is more desirable. This is because people can access resources faster and more easily. In addition, it is not cumbersome and neither is it bureaucratic and hence decisions are easily made faster and much more conveniently. Federal government is the way to go since it discourages crime at high levels of government as well as corruption. The citizens are more in touch with their leaders and they can easily express themselves. Works Cited. Alexander, S. Political Government: To What Extent Do Governments, Control Systems           of Government, Harvard Press, 2003 (P67-p78) 2nd Ed Bonnie, B. Community Criminal Justice: What Community Policing Teaches Harts       Mitch. D.C, Washington, 2004 (p 688) Vol I Neilstrong, B. Federalism and State Government: The Way to Go, Palgrave Publishers, United States of America, 2002 (p40-p40) Shaffer, S& Herington, C. Aspect of Good Governance, Harvard University Press, UK  2001 (p34-p40) Vol I 2nd Ed.
Sunday, September 29, 2019
Cache Level 3 Unit 2
c- Analyse the issues which are essential to confidentiality and objective observations Partnership With Parents. Parents know their child best therefore it is essential to establish a co-operative partnership with the parents of the children. It is ideal to build a trusting and respectful relationship with parents so that they feel comfortable speaking with the practitioner if they have concerns. Parents are entitled to be kept informed on how their child is progressing and are told what the child will be doing in the setting, for example following The Early Years Curriculum.This can help the child develop and feel comfortable. Parents should also be made aware that their child will be observed and assessed throughout the year in the setting. If a trusting relationship exists between a practitioner and a parent it is more likely information on problems or changes at home will be discussed with the setting. Parents can also help to shed light on observation findings therefore practit ioners can understand the child’s stage of development and personal needs more.However if there is a breach of confidentiality parents will be hasty to share information again and have a negative outlook towards the practitioner, this means it is essential for information handling to be in a secure and safe manner. Safe Storage of Information. Storage of observations must be dealt with care, it must be stored in a secure manner in folders which are locked, password protected and encrypted.Yet they must be accessible to designated practitioners and files also must be backed up. Only trusted members of staff should have access to personal information as part of the Confidentiality Policy under the Data Protection Act 1998 all children’s right to privacy should be respected and upheld. Sharing Information Information on observations can be shared with other professionals involved with the child, for example in a multi-agency team information on observations can be shared. Parents also are allowed and encouraged to view observations that have been made on their child as they can help the practitioner understand the results and even take action towards the child’s personal needs themselves. Objectivity Pre-judgement, personal beliefs and values are not allowed to come into the observation however a skilled observer will acknowledge that everyone has these traits and will try to be objective. To be objective means to be without bias and not allow your personal experiences influence what you observe in the child.However practitioners must be careful they don’t give the child a self-fulfilling prophecy whether negative or positive because every child is different and will develop at their own pace. Children with learning difficulties, different ethnic backgrounds or family background might be seen as developing English skills slower. This may not be the case and a practitioner must give every child the chance to develop and be given the same amount of one-on-one teaching time as well as group class activities. (e7)
Saturday, September 28, 2019
Benefits and barriers for implementation of activity based costing Dissertation
Benefits and barriers for implementation of activity based costing systems in selected Asian countries - Dissertation Example Analysis of the three countries is provided. Ultimately, the paper concludes that activity-based costing could be extremely beneficial for Asian businesses. However, activity-based costing is virtually guaranteed to fail if it is imposed top-down or haphazardly. Barriers to implementation include different organisational and social cultures, different accounting norms and regulations, regulatory frameworks, fiscal policies, varying relationships to stakeholders, and other factors. If activity-based costing is to succeed, it must grow organically from the needs and behaviors of the organisations it is applied to. Introduction As Asian countries' financial operations become more closely attuned with and leveled against the West, it is likely that the model of activity-based costing (hereafter known as ABC) will spread to Asian enterprises. This paper analyzes three countries: The Hong Kong SAR, Malaysia and mainland China. These countries are immensely different from the West where act ivity-based costing is more common, with different fiscal policies, regulatory backgrounds, macro-economic statistics and behaviors, regional problems, resources, relations to customers and suppliers, and so forth. Ultimately, activity-based costing could be extremely beneficial for Asian businesses. However, activity-based costing is virtually guaranteed to fail if it is imposed top-down or haphazardly. ... 1.1: Definition Activity-based costing is defined by Rockford Consulting (1999) as â€Å"a method of allocating costs to products and services. It is generally used as a tool for planning and control. It was developed as an approach to address problems associated with traditional cost management systems, that tend to have the inability to accurately determine actual production and service costs, or provide useful information for operating decisions†. Without ABC, managers can make errors in calculation and strategy, particularly in companies with many â€Å"products or services†. The idea is to attribute costs to activities more than products themselves. This requires that processes are mapped and understood sufficiently to be priced or measured. A comprehensive idea of the organisation's process structure, overhead, engineering times, etc. have to be honestly calculated. Ultimately, much like scientific management, inefficiencies are exposed and accounting rectified in areas that were never expected to be problematic. Averkamp (2011) offers an example of activity-based costing that illustrates its benefits. Assuming two products engineered by the same company, â€Å"Product 124†being a â€Å"low volume item which requires certain activities such as special engineering, additional testing, and many machine setups because it is ordered in small quantities†and â€Å"Product 366†â€Å"a high volume productâ€â€running continuouslyâ€â€and requir[ing] little attention and no special activities†. Under a traditional costing regime, Product 124 has very low machine hours, thus it would have little overhead â€Å"spread†to it; but this is not an accurate representation of its cost. Similarly, Product 366 would apparently seem to cost a lot because of its
Friday, September 27, 2019
Compare and Contrast Essay Example | Topics and Well Written Essays - 1000 words
Compare and Contrast - Essay Example Does it remind you of something or seem entirely new? Do you notice if the band is playing 12-bar blues, AABA tunes, or something else? Are they playing from written music? Does the arrangement seem formalized or more like a â€Å"head†arrangement? ?3. The performance venue and audience: What kind of space does the event take place in? How big is the audience? Do you note anything about their ethnic backgrounds, age or gender? What are they doing? Listening? Talking? Dancing? ?4. Your general impressions of the event: Did you have a good time? Why or why not? ?5. Any ways in which the performance relates to issues we have discussed in class: Think particularly about the dualities we started off with: spontaneity vs. planning, and individuality vs. collectivity. ? I. Introduction Jazz, ever since having been introduced in the early 20th century, has become a staple of the music industry. Two jazz performances will be compared and contrasted with regard to the following: the pe rsonnel and instrumentation of the groups; the general style(s) of the groups and their repertories; the performance venues and audiences; my general impressions of the events; and a discussion about any ways in which the performances relate to issues that have been discussed in class. The two 2011 jazz performances that were attended were: a band named Klang, which had just recently released a CD entitled â€Å"Tea Music,†as well as the band Klang’s performance for their newest recently-released CD â€Å"Other Doors.†II. Personnel and Instrumentation of the Groups You might first note the presence or absence of a rhythm section. If there is one, which instruments are used and what are their roles? How big is the entire group? How do the various instruments relate to one another? Does one soloist stand out for you? Why? In both performances, there was a rhythm section. One person was on drums, while another person was intermittently doing percussion of various types including a xylophone. The other types of percussion besides the drums and the xylophone are not immediately known. The entire group is only composed of four people total in the band at one time. The other instruments that I remember included the main musician who was featured, who was on a clarinet. Two other members of the group play the vibraphone, the cello, and other various instrumentsâ€â€while the fourth musician plays drums only. The one soloist who stands out is the clarinetist, because he is the person who basically holds the band together. He’s also the focal point of all the action onstage. Basically, it’s his group, but everyone contributes somehow. III. The General Style(s) of the Groups and Their Repertories Can you identify the general style based on our class discussions? Does it remind you of something or seem entirely new? Do you notice if the band is playing 12-bar blues, AABA tunes, or something else? Are they playing from written music? Does the arrangement seem formalized or more like a â€Å"head†arrangement? The general style of the jazz presented, in both concerts, was very difficult to discern. This is because Klang is not a traditional jazz band in every sense of the word, even though they play some standards occasionally. However, for the most part both of their concerts focused on instrumentalism and attention to musical detail which really can’
Thursday, September 26, 2019
Kudler Fine Foods Paper and Presentaion Essay Example | Topics and Well Written Essays - 2000 words
Kudler Fine Foods Paper and Presentaion - Essay Example And choosing the proper one for the business is depending on the strength, weakness, opportunity and threat, of the choice that possesses in the available and the unavailable resources. The paper has worked on to address the issues regarding the choice of expansion being a private company and a projection of SWOT of the proposed expansion plans. The overall concept of any expansion plan is to raise fund that is needed to expand the company internally or externally. This is so, because the fund is the life line of any venture at the runway. The very first option that the company has projected is the floating of Initial Public Offer to raise fund from the public. This option of Initial Public Offering (IPO), also known as "public offering", is the concept of issuing common stock or shares to the public for the first time. This concept is pretty handy for smaller, younger companies seeking capital to expand. In an IPO, the Kudler may obtain the assistance of an underwriting firm, which helps it determine what type of security to issue; that is common or preferred, best offering price and time to bring it to market. Weakness: The cost of complying with regulatory requirements can be very high. Some of the additional costs include the generation of financial reporting documents, audit fees, investor relation departments and accounting oversight committees are unwanted by the public (INVESTOPEDIA, 2008). Threat: The actions of Kudler’s management will become increasingly scrutinised as investors constantly look for rising bottom line. This may lead Kudler to perform questionable practices in order to boost earnings. After this brief insight of the IPO based expansion; the second expansion plan is the Acquisition. It is also known as a takeover or is the buying of one company by another (Spaeder, 2004). Here, the companies cooperate in negotiations of purchasing of a smaller firm by a larger one. There is another form of acquisition, known as
Wednesday, September 25, 2019
Information Processing Essay Example | Topics and Well Written Essays - 750 words
Information Processing - Essay Example The way human brain processes information about the outer world depends on different factors and, above all, upon the context. For instance, if a person looks at some complicated picture, e.g. a portrait, it is enough to cast one glance at what is depicted on it, whereas comprehending the same picture would hardly be possible if this person begins analysing different parts of this portrait separately, one by one. This peculiarity of information processing is due to the fact that the brain operates the sensory signals that are perceived together, not separately. (Schweizer 1998, p. 89) The visual signals normally reach our eyes simultaneously and therefore in case with visual images the processing of information begins from the retina. The sounds that constitute speech reach the hearing organs successively, and that is why for processing a sound image it should first be stored in short-term memory. For the identification of the already known images, the brain compares the information recorded in the short-time memory with the classes of images contained in the long-term memory that contain the information about the previous experience that has been collected in the process of studying and communicating. One of the challenging aspects of processing information is perception of stimulus in the situations where there are a lot of similar symbols - e.g. when someone is talking to another person in a noisy room. In such situations, though the stream of sounds produced by the interlocutor is accompanied by other sounds, it is normally possible to comprehend the speech. Quite a simple example where the context of information creates the context is the illusions of sound continuation or phonetic restoration. A brilliant example of this phenomenon was described by Richard Warren: if you hear some phrase whose meaning you cannot catch, but you definitely hear its ending - '... eel is on the' Now, if you put the word 'orange' at the end of this phrase, you will hear 'peel is on the orange'; if the word is 'wagon', the phrase will sound as 'wheel is on the wagon'; if it is 'shoe' you will perceive the phrase as 'heel is on the shoe'. (Warren 1970) This experiment shows that the sound stimulus in itself (noise + 'eel') fails to determine unambiguously what will be heard by the recipient. Attention Attention is the process of sorting the information that comes from outside in accordance with the importance of the tasks a person has. There are several kinds of attention: active (voluntary) attention that is conditioned by a certain conscious goal, and automatic (involuntary) attention that is actualized under the influence of unexpected and new stimuli in the form of orientating reflex. (Lachman & Lachman 1979, pp. 183 - 185) The effectiveness of attention can be determined by its level (concentration and intensity of attention), volume, speed of switching to other objects, and stability. It has been proved that the attention processes are connected with functioning of the corpus collosum, the left part of the brain ensuring selective attention and the right part - maintaining the general level of awareness. Memory Memory is a very important phenomenon that is crucial for our lives. Thanks to it, we are able to use our own experience and the experience of other people in our lives. There is short-term and long-term memory. Short-term memory is also called operative memory. To illustrate the
Tuesday, September 24, 2019
Petroleum Engineering final research Paper Essay
Petroleum Engineering final research Paper - Essay Example While engineering and research have developed methods of extracting different petroleum products from crude oil in practical approaches, the academic and the overall public domain is unable to know from research how exactly the formation of crude oil takes place as many theories exist within the sources credited as scholarly articles and approved books. Given the increasing threat of reading and believing various sources in existence, this essay seeks to answer the following question as it relates to petroleum engineering and research on petroleum production: Research Question If petroleum engineering was developed through research on petroleum formation, why is it that petroleum engineering follows the same concepts and methods of processing while petroleum research on petroleum formation differs considerably? LITERATURE REVIEW 1. Research on Petroleum a. Formation of crude oil ‘The origin of oil’ is a phrase that anyone can take a wild guess and appear right on. From t ime immemorial, societies have become accustomed to the popular believe that crude oil is a product from the interiors of the earth. However, while the origin or oil has been researched on, most research tends to lean on where crude oil exists or where around the world oil can be drilled. Research goes further to explain that the origin of oil is a phenomenon that can be explained through the consideration of hydrocarbons undergoing gradual changes within the confinements of the earth’s crust. According to Bluemale & Manz (2), crude oil is constituted of 50-95% of hydrocarbons. While chemical engineering is a crucial input in the field of petroleum research, some sources fall short of relevant information regarding the types and actual chemical components of these hydrocarbons. Research by other researchers indicate that the formation of crude is an indefinite process upon which most researchers have relied on theories rather than taking a practical approach in identifying th e actual process of crude oil formation. In statistics, forecasts are made through the consideration of the mean in order to predict the occurrence of some results. While the field of quantitative data can use means to predict outcomes, it is unable to use the same method to predict results from qualitative data. For example, the different researches on the formation of crude oil cannot be reduced to an average concept. This therefore discredits such research conclusion that crude oil is made up of 50-95% of hydrocarbons. The 50-95% gap is way too wide to show substantiality of the research as it is impossible to believe that one bottle of the original coca cola can have 50-95% sugar content and still be classified under the same category of either diet coca cola or the original sugar-rich product. b. Chemical Composition The formation of petroleum has been able to produce substantial evidence of how chemicals are combined or developed to become petroleum. In this case, the scientif ic inability is influenced by timeline as scientists are unable to reproduce 100 million years. While the impossibility is logical, the mentioning of 100 million years may has well be wrong as the determinant of the period
Monday, September 23, 2019
Summary on Henry Ford Essay Example | Topics and Well Written Essays - 250 words
Summary on Henry Ford - Essay Example The real turning point for Ford’s career was joining the Edison Company in Detroit as an engineer in 1892. Here, he struggled with building a gasoline engine strong enough to power a motorcar, but in 1896 the first Ford motorcar was born, and it could reach 90 miles per hour. From here, Ford accumulated funding and released the Ford model T in 1908, hugely increasing growth with assembly line production. Having become reputedly the richest man who ever lived, Ford was in a position to publish his opinions and moral-code on a huge scale. Ford detested all that was un-American (in his eyes), strongly backing the pioneers and detesting the immigrant Jew. This eventually led to Ford financially backing the Protocols of the Elders of Zion, a widely distributed anti-Semetic text favoured by Hitler. Ford is often mistakenly assumed to be anti-History, but he had a great passion for collecting and an admiration for the American past. He used this passion further in 1920 to restore his family home using real archaeological techniques. He then went on in 1926 to recreate a whole village as a tribute to village life and God’s nature, which he truly
Sunday, September 22, 2019
The Quality of Education in the Public School System Essay Example for Free
The Quality of Education in the Public School System Essay Basic education whether it is from a public or a private school is one of the most fundamental needs of mankind. It is responsible for the advancement of our civilization. Education is a vital necessity and the fundamental right of an individual. It is difficult to put a price tag for education. However, it can be said that education is the window to numerous opportunities and the most essential means of poverty elevation. According to the Universal Declaration of Human Rights Everyone has the right to education Education shall be directed to the full development of human personality and to the strengthening of respect for human rights and fundamental freedoms. It shall promote understanding, tolerance and friendship among all nations, racial or religious groups, and shall further the activities of the United Nations for the maintenance of peace. (art.26 Universal Declaration of Human Rights). Today’s education system has become an issue of debate especially between the public and the private school educational quality. Each and every parent has their own set of choices for their children. Many people opt for having a religious affiliation, for others the costs of private school may not be affordable (Public School Review n.pag). This paper compares the major differences between both public and the private schools and also gives a few recommendations of improving the quality of education in the public school system. If we take into consideration the cost involved in the public and the private schools, it can be noted that public schools are funded through federal, state and local taxes. For instance, when a person pays taxes to the government they are paying for their childs education and the education of other children in the community. On the other hand, private schools do not run on the tax revenues or any fund from the government.  Instead, these schools are funded through tuition, fundraising, donations and private grants. Therefore, when a parent has to send their child to school they compare the cost of education. If the parent is not financially capable to pay the fees for the private school, then obviously the parent opts for public schools where the fees structure is much less and compromise on the quality of education. In order to improve the quality of the public schools it is essential to increase the funding to these schools, improve the infrastructure and also increase the number of teaching faculty. When it comes to admission, public schools admit all children, and therefore these schools are multicultural in nature. As per the rules in most of the countries, public schools are open for all and must educate all children (Public Education Network n.pag). Private schools are selective in nature. For instance, schools managed by churches give preference to Christians. They are not compelled to accept every child by any rule. Today because of this reason private school admission is very competitive. It is therefore important that public schools need to continue and improve their multicultural nature and promote education among all communities equally. It is essential to recognize the diversity of groups and issues that are present in every town and city (Leistyna 1-23). Whether fair or not, educational opportunity and academic achievement are directly tied to the social divisions associated with race, ethnicity, gender, first language, and social class. The level and quality of educational attainment either open the doors to opportunity or close them. â€â€Educational psychologist Edmund W. Gordon in The Covenant with Black America In general public schools offer subjects which usually includes math, English, reading, writing, science, history, physical education, music and arts. The substance of what children learn is mandated by the state and learning is measured through tests and examinations. In private schools these subjects are flexible for students. Besides the students are taught the curriculum using various effective techniques such as take children on extended outdoor trips that blend lessons across the curriculum. Such innovative trips increase the practical knowledge of the students. Private schools are not bound by any rules and therefore they can create their own curriculum and assessment systems. In order to improve the public schools it is important to take some of the special teaching techniques followed by the private schools (GreatSchools.net n.pag). In terms of the teaching faculty it is a well known fact that the teachers in public schools are usually state certified or, at least working toward certification. Public school teachers need compulsory college degrees and to be licensed by the state (Broward County Public Schools n.pag). Qualified teachers with certification ensure that they have gone through the training required by the state, which includes student teaching and coursework. However, this is lacking in a private schools. Teachers in private schools may not be required to have certification but often have good subject area expertise and an undergraduate or graduate degree in the subject they teach. It is important to maintain the standards of payment in public and private schools because teachers also need to maintain high standards of living. Private schools are usually committed to providing attention to each and every child individually and therefore keep the class size small. Many parents choose private schools for this reason. In public schools though many states recognize the value of small classes, they are unable to do so because of overcrowding and lack of good infrastructure especially in large school districts and urban schools (GreatSchools.net n.pag). As a result teachers cannot give equal attention to individual students or for students with special needs. It is essential therefore to decrease the size of classes in public schools to improve the quality of education. Finally, it can be said that in order to improve the public education system, it is essential to equitably allocate resources. For instance, educational and administrative staffing ratios show how many students per teacher or per administrator are in each school. Work Cited  Public School Review, Public School vs. Private School (2007) Public School Review LLC. 21 October 2007, http://www.publicschoolreview.com/private-public-schools.php Public Education Network, Public Schools Must Be Held Accountable, Americans Say (26 July 2007) 21 October 2007, http://www.publiceducation.org/doc/Press_Releases/20070726_Public.doc Leistyna, P. Extending the Possibilities of Multicultural Community Partnerships in Urban Public Schools, The Urban Review, Volume 34, Number 1 / March, 2002, pp 1-23. GreatSchools.net, Private vs. Public Schools: Whats the Difference? (February 2007) GreatSchools Staff, 21 October 2007, http://www.greatschools.net/cgi-bin/showarticlefeature/ca/197 Broward County Public Schools, Public Vs. Private Education 21 October 2007, http://www.browardschools.com/info/education.htm
Saturday, September 21, 2019
The Story of an Hour Essay Example for Free
The Story of an Hour Essay The Story of an Hour†by Kate Chopin, interprets the liberation of subjugation and a despondent marriage. The nineteenth century setting is that of a man’s world.  The general plot of â€Å"Story of an Hour†symbolic of anticipation of possibilities for women abiding the tyrannical impact of a male- controlled society. For Louise Mallard she had a fitful response when she learned that her husband has been supposedly killed in a train mishap. She confines herself in her room and sits in front of the window in isolation. She begins to muse about life without her husband. Commencing with distress, Louise slowly converts to joy. â€Å"Free! Body and soul free!†(Chopin, n.d.). Louise knew that the normal response was to grieve the death of her husband, but deep within her new found liberation procures. Decisively she imagines living for herself and achieving things she had yearned to accomplish. Louise does not see this as adversity but as an opportunity, another endeavor at life. Compelling belief of freedom ends in dismay when Brently Mallard arrives at the door, alive and well. â€Å"Someone was opening the front door with a latchkey.†(Chopin, n.d.) Profound freedom was merely reverie. Ironically her disarray of emotions ultimately led to her death. Louise dying of simple â€Å"heart disease†reveals that her emotional agony was internal. The theme in â€Å"The Story of an Hour†is the role of men and women in the 19th century. Life was male dominated, with women being prisoners of their husbands. In the story Louise Mallard is jubilant that she would no longer have to stoop to the desires of her husband. There is one primary conflict in â€Å"The Story of an Hour†. The conflict is internal and one of freedom versus the imprisonment of the marriage. Mrs. Mallard, hears of the believed death of her husband, she is impaired with a heart condition, and the news could possibly kill her. Further reading explains, she is merely an animal in a glorified pen. The death of her husband would offer freedom and understanding that she has been trapped in a marriage in which her husband dominated her, which has created a conflict within her. Therefore, the desired freedom being an internal conflict. In conclusion, â€Å"The Story of an Hour†is of the nineteenth century formation of male oppression and the thoughts of freedom resulting in death.
Friday, September 20, 2019
Inflation and Stock Returns in Nigeria
Inflation and Stock Returns in Nigeria This study empirically examines the relationship between inflation and stock returns in Nigeria during 1997-2006. The study focuses on different econometric models to investigation this relationship using monthly data of the All Share Price Index from the Nigerian Stock Exchange and Nigerian Consumers Index. The simple OLS regression result suggests that the residuals are stationary, which implies that stock returns and inflation are co integrated. Therefore we can conclude that there is a long run relationship between stock returns (LOGASI) and inflation (LOGCPI).The Engel co-integration results reveals that there is long run relationship between inflation and stock returns .the study further goes on to the determine the causal long run relationship using the Error Correction Model (ECM). This article offers evidence of a positive relationship between stock market returns and inflation. This result confirms that stock returns act as a hedge against inflation. CHAPTER ONE INTRODUCTION 1.1 Background to the Study The advent of oil boom in Nigeria in the early 1970s, has led to the instability of stock prices. This has been attributed to many factors such as: budget deficit monetization, inflow of foreign capital from crude oil sales and financial markets creation of excess private domestic credit. Since early 1970s, inflation rates in Nigeria has been highly unstable; the high inflationary change was in excess of 30 percent. This is evident in the high correlation of money supply growth and high inflation due to the fact that real economic growth is less in real term to money growth. This can be observed from the growth in money supply and some structural factors such as; supply shocks arising from famine, unfavorable terms of trade and devaluation of currency. Furthermore, Structural Adjustment Program (SAP) introduced by the government in the late 1980s also accounted for the increase in price level in the economy. Consequently, inflation in Nigeria has overtime responded to structural changes. These changes can be characterized into four periods based on the pattern and events that occur at that period. The first period of inflationary increase in Nigeria was noticed from 1974 to 1976; inflation increased by 30 percent. This inflationary pressure was as a result of the following: High cost of agricultural produce caused by drought in the Northern part of Nigeria, Excessive oil revenue monetization, increase in wage rate based on the recommendation of the Udoji commission of 1974, Folawewo (2005), and political instability The second period was from 1983 to 1985 when inflation rate reached 40 percent. This period noticed very little economic growth, The Nigerian government was under intense pressure from debtor groups to accept International Monetary Fund conditionalitys of devaluation of domestic currency because government debt has increased above 70 percent while excess money growth was around 41and 43 percent. This period also witnessed poor external trade performance.CBN (, 2006) The third period was from 1987 to 1989 when inflation rate hovered around 35 percent. During this period, the economy experienced high inflationary pressure brought about by fiscal expansion noticed in the 1988 budget, the debt for equity swaps conversion method adopted by the Government of Nigeria and the drastic contraction in monetary policy, all accounted for this change that span through to the early 1990s. Finally, the fourth period occurred between 1993 and 2000, as a result of fiscal deficit expansion which caused a 70 percent increase in money supply with a knock-on effect on domestic credit of the private sector of the economy.CBN, (2006) Overall, inflationary pressure can be largely attributed to structural factors such as; real income reduction caused by fluctuation in oil revenue, high nominal wages and debt obligation in form of expansionary fiscal deficit. These invariably mean that over the years, fluctuation in commodity price is a normal feature of the Nigerian economy. One major commodity considered in this study is the capital market stock, i.e. the Stock market. Stocks listed in Nigeria are traded on the floor of the Nigerian Stock Exchange (NSE) while the Securities and Exchange Commission (SEC) is the apex regulatory body which oversees the activities and affairs of the major players on the floor of the Stock Exchange. The Nigeria Stock Exchange was established in September 15, 1960 but commenced business on June 5, 1961 with 19 securities listed and traded on the Lagos Stock Exchange. Based on the recommendation of the Government Financial System Review Committee in 1976, the Lagos Stock Exchange was renamed and made part of the Nigerian Stock Exchange in December 5, 1977. The Nigerian Stock Exchange has nine branches established in major commercial cities in Nigeria. The main exchange of stocks of large enterprises are traded in the Nigerian Stock Exchange while small and medium scale enterprises are listed and traded in the Second tier Securities Market (SSM). From 1963 to 1990, the Nigerian stock exchange witnessed an overwhelming increase in government stock which exceeded the equities of industrial companies; however this trend changed from 1991. The value of equities of industrial companies increased to billions of Naira, while government stock traded on the Nigerian Stock Exchange was worth millions of Naira this decrease continues till date, a development to the deregulation of the economy. Despite the increase in market capitalization noticed in the economy at that period, the ratio of this amount to the Gross Domestic Product and Gross Fixed Capital Formation was still low. This increase was between 4.8% and 25.4% for gross domestic product while the ratio for gross fixed capital formation is between 28% and 55% from 1963 to 1990 (CBN, 2006). The ratio of market capitalization in the gross domestic product and gross fixed capital formation increased geometrically from 1990 to 1995. Although there was decrease in the share of market capitalization in gross domestic product and gross fixed capital formation, the return on investment did not follow the same pattern. This decrease noticed at that period was caused by a banking crisis in which a total of 26 banks were liquidated in 1998. However, with the recapitalization of the banking sector in 2005, the industry remains the most active participant in Nigerian stock market up till date. The trend in Nigeria Stock Exchang e causes the price and return on stocks to be highly volatile. 1.2 Problem Statement Price stability is essential in determining whether an economy is stable or not. Inflation which is the constant increase in price creates uncertainty in the economy; uncertainty makes both domestic and foreign investors unwilling to invest. In Nigeria inflation has led to increase in nominal interest rates which affect the value of interest payment of banks and financial institutions. Furthermore, determination of the problem caused by inflation depends upon the degree in which inflation is anticipated correctly or not. If inflation is anticipated correctly and the monetary authority is seen to be credible, the fluctuation in price would be managed effectively but if inflation is unanticipated, some economic agents will gain while others will lose. Unanticipated inflation impact negatively on saving ability of the citizens and as a result, low saving leads to a fall in the demand for stocks and equities as financial wealth. This decrease in demand causes the price of equities to fal l thereby reducing returns on equities and stocks. Furthermore, the prices of stock determine how effective and efficient the stock market allocates shares and equities based on preference and availability of market information. Increase or decrease in price of stock create uncertainty for the investors and in turn affect the demand and supply of stocks. Therefore, general increase in price level may affect peoples potential investors investment decision which has negative impact on the total returns on stocks in the economy at large. This situation is prevalent in the Nigerian economy; therefore there is the need to examine the effect of inflation on stock returns and its implication on investment. The Fishers hypothesis (Fishers effect) suggests that stocks or equities hedge or evade inflation, empirical investigation suggest that inflation and stock returns are negatively related. This study will be looking at relationship between inflation and stocks in Nigeria. The study of this relationship is essential in improving and in the understanding of stock markets, thus providing standards for decision-making about asset allocation.This study contributes to the existing literature by providing evidence for whether inflation affects stock returns both in the long run and in the short run. 1.3 Justification for the Study Despite the large number of empirical studies on the relationship between inflation and stock returns, there is no general consensus on the causal direction of this relationship. Empirical works as; Nelson (1976), Shwarts (1977), Fama (1981), Geske and Roll (1983), Gultekin (1983), Marshall (1992), Bakshi Chen, (1996), Zhao (1999), Chatrath et al (1997), Spyrou (2001), Omran and Pointon (2001), Crosby (2001), Gallagher and Taylor (2002) and Floros (2002), suggested a negative relationship between inflation and stocks while Boudoukh and Richardson (1993), Graham (1996) and Choudlery (2001) in different studies take the opposing view, i.e. that there exists positive relationship between inflation and stock returns. However, most of these studies were carried out in industrial nations and some selected developing countries most especially Latin American countries. Specific studies on the exact relationship between inflation and stock returns in Nigeria have not been explored rigorously. Furthermore, considering the negative impact of inflation on prices of commodities in Nigeria coupled with the volatility of stock returns, this study seek to provide a rigorous analysis of the dynamics of inflation and its implication on stock returns in Nigeria using an Error Correction Model to create a parsimonious and encompassing model that would show both short-run and long-run relationship between inflation and stock returns in Nigeria. 1.4 Plan of Study Following the introductory remarks in chapter one, chapter two will review the existing literature on this subject. While chapter three will focus on the theoretical framework, methodology, model specification, estimation technique and sources of data. The summary of result of the empirical analysis is presented in chapter four while the study will be rounded up in chapter five with summary of findings, policy implication and conclusion. CHAPTER TWO LITERATURE REVIEW 2.1 Introduction Section 2.2 of this chapter discusses the underpinning theories of inflation and stock returns. Section 2.3 examines the empirical literature review on inflation and stock returns this is to help identify the link between inflation and stock returns. Finally section 2.4 examines the methodological literature on inflation and stock returns. 2.2 Theoretical Literature Review on Inflation and Stock Returns The Fisher hypothesis suggests that there is a positive relationship between interest rates and inflation. (Berument Jelassi, 2002) Fisher (1930) argues that nominal interest rate is entirely a sign of the existing information in relation to the likely future values of the rate of inflation. This hypothesis has come to be known as ‘‘the Fisher effect in the economic literature; it states that expected nominal rates of interest on financial assets should move one-to-one with expected inflation. Choudhry (2001) Fisher hypothesis, in its strict sense, predicts a positive homogeneous relationship of degree one between stock return and inflation. (Luintel Paudyal, 2008) The proxy-hypothesis was introduced by Fama (1981) to explain the predominance of negative stock return-inflation trend. The main principle on which Famas version of the proxy-effect hypothesis is based on is the observed negative relationship between inflation and stock returns which appears to be spurious since this relationship is a result of the positive relationship that exist between stock returns and expected economic activity and an inverse relationship between expected economic activity and inflation. Inflation simply serves as a proxy for expected economic activity in a statistical relationship between stock returns and inflation. (Lee U. , Monday, June 22 1998) The proxy hypothesis states that the negative relationship between inflation and stock returns is spurious and really only proxies for the positive relationship between stock returns and real variables. Previous testes of the proxy hypothesis have used actual values instead of forecasted values for the real activity variable. (McCarthy, Najand, Seifert, 1990) did not find a support for the proxy hypothesis using only forecasted variables. Gonedes (1981) the failure to use indexation means that real income tax rates will vary directly with rates of inflation. This substantive effect of mere bookkeeping methods is frequently predicted even though it is known to have some adverse implications. This is the tax effects of inflation hypothesis. 2.3 Empirical Literature Review on Inflation and Stock Returns The empirical literature on the impact of inflation on stock returns records major contribution by different scholars over the years. But the empirical evidence provided by most of these studies has been mixed, and a consensus has not yet emerged. While studies like Pierrel and Kwok (1992), Geske and Roll (1983), Floros (2002), Ugur (2005), Yeh and Chi (2009), Pesaran et al (2001), Den Haan (2000), Crosby (2001), Syros (2001), Roohi and Khalid (2002) among others have found a negative relationship between inflation and stock returns; Boudoukh and Richardson (1993), Graham (1996), Choudhry (2001), Patra and Posshakwale (2006) and Lee et al (2000) among others reported positive relationship between these variables. Concerning the review of the approaches of modeling the effect of inflation on stock returns, Pierrel and Kwoks (1992) estimates and tests the alternative versions of hypothesis that explain the relationship between these two variables. The study employs distributed lags in order to empirically arrive at a dynamic structure of inflation. Pierrel and Kwoks concluded that this dynamic structure conform to Fama (1981), Benderly and Zwick (1985), and Geske et al (1983) hypothesis that suggest a negative relationship between inflation and return on stocks. Yeh and Chi (2009) tested the validity of the various Hypotheses that explain this relationship. The empirical result of this study on 12 OECD countries shows that these countries exhibit a short-run negatively significant co-movement between stock returns and inflation. Moreover, countries like Australia, France, Ireland and Netherland do not display a long-run relationship between the two variables in equilibrium. This result is consistent with the hypotheses of Fama (1981), Modigliani et al (1979) and Feldstein (1980) which suggested that an increase in inflation reduces real returns on stock. This result is also in line with Caporale and Jung (1997) and Rapach (2002). They argue respectively that there exist a negative significant effect of inflation on real stock returns after controlling for output shock and that inflationary trends do not erode returns on stocks. The Fishers Hypothesis was tested by Spyros (2002). His results reflect a contrary view that returns on stocks hedges inflation. This study shows that there is negative but not statistically significant relationship between inflation and stock returns in Greece from 1990 to 2000. In this same vein, Floros (2002) carried the same study on Greece economy and concluded that inflation and stocks in Greece should be treated as independent variables because the result of the various test conducted show that there is no relationship between inflation and stock returns in Greece. Crosby (2001) investigates the relationship between inflation and stock returns in Australia from 1875 to 1996 and found out that the Australian economy does not experience permanent changes in inflation or stock returns. The result shows that there exist short-run negative relationships between these two variables that depend on the period of time that is considered. On the contrary, Lee et al (2000) examine the impact of German hyperinflation in the 1920s on stock returns. This result of this study show that the hyperinflation in Germany in early 1920s cointegrates with stock returns. The fundamental relationship between stocks returns and both realized and expected inflation is highly positive. They concluded that common stocks appear to be a hedge against inflation during this period. Choudhry (2001) in his study on the impact of inflation on stock returns in some selected Latin and Central American countries (Argentina, Chile, Mexico and Venezuela) from 1981-1996, reveal that there is one- to-one relationship between the current rate of nominal return and inflation for Argentina and Chile. Their result also reveals that the lag values of inflation affect stock returns and this result infer that stocks act as a hedge against inflation. Patra and poshakwale (2006) conducted a study on the impact of economic variables on market returns in Greece from 1990 to 1999. Empirical results show that some macroeconomic variable like money supply, inflation, volume of trade and exchange have both short-run and long-run relationship with stock price in equilibrium in Greece while there was no short-run or long run relationship noticed between exchange rate and stock prices. Ugur (2005) in a study on the effect of inflation on return on stocks in turkey from 1986 to 2000 reveal that expected inflation and real returns are not correlated. The results suggest there is a negative relationship between inflation and stock returns which may be caused by the negative impact of unexpected inflation on stock returns. This results did not contradict Fisherian hypothesis because of the non correlation of inflation and real returns but the results is in line with the proxy hypothesis since a negative significant relationship exist between the two variables. Aperigis and Eleftheriou (2002) results also concurred that there is negative link between inflation and stock returns in Greece than in interest rate and stock returns. Similar study like Adrangi et al (1999) and sellin (2001) also support the proxy hypothesis. Khil and Lee (2000) in their study on ten pacific-rim countries and the US that all the countries except Malaysia reveal negative relationship between in flation and stock returns. The tax-effects Hypothesis which asserts that there is negative relationship between inflation and stock returns was tested by Geske and Roll (1983). Empirical result from the reveal that random negative or positive real shock affects stock returns which in turn, signal higher or lower unemployment and lower or higher corporate earnings. This has effect on the personal and corporate tax revenue leading to increase or decrease in the treasury through borrowing from the public. The economy paid for this debt by expanding or contracting money growth and this would lead to higher or lower inflation. They concluded that random shocks on stock returns are both fiscal and monetary in nature in the U.S.A. Roohi and Khalid (2002) considered the Efficient Market Hypothesis and Rational Expectation Theory to investigate the effect of inflation on stock returns. Empirical results of the study suggest that the relationship between real stock returns, unexpected inflation and unexpected growth are negatively significant. They concluded that the control of real output growth makes the negative relationship between these two variables to disappear over time. 2.4 Methodological Literature Review on Inflation and Stocks Returns The empirical relation between inflation and stock returns has been investigated through various approaches since the 1970s. Spyros (2001), adopted Vector-Auto regressive (VAR) model and the cointegration test to confirm if there was any relationship between inflation and stock returns in Greece. Pierrel and Kwok (1992) investigated the relationship between stock returns and inflation in the United State between 1962-1992 using Vector- Autoregressive (VAREC) model, and Granger Causality, Crosby (2001), used Vector-Autoregressive (VAR) model, Ordinary Least Square (OLS) and correlation analysis to examine the relationship between inflation and stock returns in Australia from 1875-1996. Floros (2002), investigated the relationship between stock returns and inflation in Greece from 1988-2002 by considering both the lag and lead periods of inflation and stock returns using Ordinary Least Square (OLS), Johansen Cointegration Test and Pairwise Granger Causality Test. In this same vein, Ugur (2005) used the Ordinary Least Square (OLS) and Standard Granger Causality to examine the relationship between inflation, stock returns and real activity in Turkey. Choudhry (2001), estimate the impact of inflation on stock returns in some selected Latin and Central American countries using the Auto-Regressive Integrated Moving Average (ARIMA), unit root test and spectral regression model. Lee et al (2000); and Geske and Roll (1983), also used ARIMA, OLS and unit root test to investigate the effect of German hyperinflation and stock returns, and the impact of inflation on stocks returns in the USA respectively. Patra and Poshakwale (2006) on the other hand, used the Error Correction Model (ECM), Johansen Cointegration Test and Pairwise Granger Causality Test to show if economic variables such as money supply interest rate, exchange rate, volume of trade and stock prices have impact on stock returns. Yeh and Chi (2009) in their study on 12 OECD countries measures correlation at different forecast horizon by using Autoregressive Distributed Lag (ARDL) bound test, unit root test and confidence interval method to investigate the inflation illusion hypothesis that suggest that there is negative relationship between inflation and stock returns. Pesaran et al (2001) and Den Haan (2000) also employ the same technique and arrive at the same result. This study examines the relationship between inflation and stock returns in Nigeria. Furthermore a test is carried out to see if theres a cointegration and causality within these variables. Methods used in this study are explained in chapter three. This study fundamentally aims to analyses the above relationship for a period of 1st of January 1997-31st of December 2006 .monthly values of the Nigerian Stock Exchange (NSE) and Nigerian Consumers Price Index (CPI). CPI was collected from the Central Bank of Nigerian Statistical bulletin (2006), while (ASI) All Share Index was collected from Nigerian Stock Exchange data bank. The reviews of literature above reveal that there are basically four major hypotheses discussing the relationship between inflation and stock returns. These theories are Fisherian hypothesis, proxy hypothesis, tax-effect hypothesis and inflation illusion hypothesis. Considering the level of price stability in Nigeria over the period of our study, the study seeks to adopt Fisherian hypothesis which suggest that stock hedges inflation. This is based on the fact that literature suggests that the price of stock is a major determinant of stock returns which is affected positively by expected or unexpected inflation (consumer price index). CHAPTER THREE MODEL SPECIFICATION AND METHODOLOGY 3.1 Introduction This chapter covers the theoretical framework, specification of the models utilized in the study as well as the methodologies that will be adopted. Accordingly, the estimation procedures, and data requirements; types and sources of data are also discussed in this section. 3.2 Theoretical Framework The reviews of literature in chapter two reveal that there are basically four major hypotheses discussing the relationship between inflation and stock returns. These theories are; 1. Fisherian hypothesis 2. Proxy hypothesis, 3. Tax-effect hypothesis and; 4. Inflation illusion hypothesis. The Fisherian hypothesis is thus specified; Where is the real returns, is the actual inflation which is the combination of the unexpected and expected inflation. While is the error term that is distributed randomly and normally with zero mean and constant variance. This sign of determine if the specification is in line with the fisherian hypothesis. Thus; a significant and positive sign suggest that stock hedges inflation while a negative sign suggest contrary. 3.3 Model specification Based on the outcome of our theoretical framework which attempts to explain the relationship between real stock returns and inflation, we specify the model for estimation. Stock return represented by all share indexes (ASI) is the dependent variable while the explanatory variables are, one-period lagged inflation represented by consumer indexes (CPI) and one-period lagged stock returns (ASI). This is based on the common belief that stock returns (ASI) takes some time to react to inflationary changes (ÃŽâ€CPI) and changes in all share indexes (ÃŽâ€ASI). In this study, it is assumed that stock returns depend on a set of variables denoted as: Therefore, our empirical specification is stated as: 1 3.4 Methodology and Estimation Procedures This study makes use of Augmented Dickey Fuller (ADF) unit root test to check for the stationarity of the series used in this study, Engle and Johansen cointegration tests is used to confirm if the series have long run relationship while causal long run relationship is determine using an Error correction Model (ECM) which will reveal both the short run and long run relationship between inflation (LOGCPI) and stock returns (LOGASI). 3.4.1 Unit Root Test Assume we have the following AR (1) process: (1) and is a white noise error term. We can manipulate the above expression by subtracting from both sides; Thus: (2) In practice, instead of estimating equation 1, we estimate equation 2 and test the hypothesis that =0. If =0 then that is we have unit root meaning the time series is non-stationary ( for unit root is non-stationary). Thus we can take the first difference of and regress on to see if () is zero or not in order to confirm if the series are stationary or not. Under the null, the estimation for ÃŽ ´ is not distributed T-student, so the Dickey Fuller test is required. We use the Augmented Dickey Fuller (ADF) table to correct for possibility of the error term () been auto correlated. The ADF test is specified in the equation below: 3 Where is a white noise Error Term. 3.4.2 Co integration Tests Trended data can be regarded as potentially a major problem for empirical econometrics. Trends may give rise to spurious regression and uninterpretable t- statistics. The stack reality is that in economics most time series are subject to some type of trend while differencing in series until it becomes stationary is one major solution. This has been shown that differencing can lead to loss of long run properties of a series. Based on this the combination of series that are difference once I(1) will give us a model that is stationary I(0). In achieving this aim this study consider two different co integration tests which are; Engle and Granger co integration test and Johansen co integration test. According to Engle and Granger (1987), a time series and are said to be co integrated of order db where d ≠¥ b ≠¥ 0 written as: CI (db) if: Both series are integrated of order d There exists a linear combination of these variables say; which is integrated of order d-b. The vector and is called a co integrating vector. The Engle and Granger co integration test involve two steps; the first step is conducting an OLS regression on the variables in the model specification. The second step is to conduct an ADF test on the residual from the regression if the residual is stationary, then the series are said to be co integrated. The Johansen co integration test on the other hand involves the use of a VAR model and the different maximum likelihood ratios are used to determine the co integrating vectors. These tests are; trace test and maximum eigen value test. Different information criteria such as Akaike Information Criterion, Schwarz information criteria (SIC), Hannan-Quinn Information Criterion, Final Prediction Error and Sequential Modified test Statistic are used in determining the lag length. 3.4.3 Error Correction Model Co integration analysis provides a test for spurious correlation. Finding co integration between apparently correlated I(1) series validate the regression but failure to find co integration is an indication that spurious correlation maybe present thus invalidating the inferences drawn from such correlation. Co integration analysis also helps in formulating the process of dynamic adjustment. However time series data lose their long run properties when they are differenced; allowing only for conclusions on the short run determinations. Therefore there is a need to construct a model that would combine both the short run and long run properties of the variables in the model. As suggested by Engle-Granger representation theorem that if two series are co integrated then they will be efficiently represented by an error correction mechanism. The Error Correction Model is used to capture both the short run and long run properties of the series. The method involves developing a model from it g eneralized form (over parameterized) to a specific form (parsimonious). In addition if the series are co integrated these dynamic specifications will encompass any other partial adjustment model. The error correction of the Auto regressive distributed lag (ADL) takes the form: where the long run properties are derived from the proportionality between and. The above specification relates the short run change in the dependent variable to the short run change in the explanatory variable.this is called the impact effect () but ties the change to the long run impact through a feed-back mechanism. 3.5 Data The study will utilize monthly time series data from 1997–2006. Data for the variables will be sourced from Central Bank of Nigeria Statistical Bulletin (2006) and the Nigerian Stock Exchange Annual Reports (2006). The variables of interest in this study are all in logs. These variables are; consumer price indexes (CPI) as inflation series and all share indexes (ASI) as stock returns. CHAPTER FOUR SUMMARY OF EMPIRICAL RESULTS The summary of the statistics used in this empirical study is presented in the appendix. As can be observed from the Table, (see pagexx) the mean value of stock returns is 9.359606 while inflation is 8.442205. It is also observed that both LOGCPI and LOGASI are positively skewed. The kurtosis value is positively low and Jarque-Bera (J-B) statistic test value is relatively high. These suggest that the two series are skewed to the right. Figure1below depicts the graphical illustrations of the data that were used in this empirical analysis. The figure reveals that stock return witnessed significant increase within the period of this study. Figure 1: Graphical illustration of statistics used in the analysis Table 1: Stationarity Test Result Variables Levels First Differences ADF 1 ADF 2 ADF 1 ADF 2 LOGASI 0.712327
Thursday, September 19, 2019
The effects of lead on childrens brains Essay -- Environment, Toxic M
Once used for varying applications, lead is now known for its toxicity in the human body. Dr. Gary Goldstein, the chief executive of Kennedy Krieger Institute wrote, â€Å"Exposure to excessive amounts of inorganic lead during toddler years may produce lasting adverse effects upon brain function (Goldstein 1990).†Lead poisoning awareness has become increasingly prevalent in the American government, with lead poisoning testing recommended as early as nine to twelve months of age (Health and Human Services 2011). This paper will explain briefly lead’s history and industrial uses, as well as give an in-depth analysis on lead’s exposure to children and how it affects their developing brains. Lead, simply put, is an element found in the earth’s crust. It is slightly soluble in water and is transported mainly through the atmosphere (Harte et al. 1991). The human usage of lead dates back to five- thousand years ago when it was discovered that small quantities of silver could be extracted from lead ore (Harte et al. 1991). The ancient civilizations of Phoenicia, Egypt, Greece, India, and China used lead for vessels, roofs, water ducts, utensils, ornaments, and weights (Harte et al. 1991). Romans used lead acetate as an artificial sweetener in their drinks. Lead acetate, known as sugar of lead, would sweeten a vintage without causing further fermentation, which would have occurred with the addition of sweeteners like honey (Le Courteur and Burreson 2003). The Romans also used lead pipes for plumbing their homes with water. The Latin name for lead is Plumbum (like the word plumbing) hence the symbol Pb on the periodic table (August 1998). Only the rich Romans had access to water in their homes through lead pipes. Lead poisoning from th... ...ead levels are above 45 ÃŽ ¼g/dL (Ginsberg and Toal 2006). In conclusion, lead is a very widespread poison that has been intertwined throughout the history of mankind. To prevent poisoning from this toxic substance, foods should be washed prior to cooking of eating. Hands, particularly those of young children, should be washed before meals (Harte et al. 1991). Flaking lead-based paint needs to be removed by a professional; intact lead paint on buildings should be maintained occasionally by painting over using lead-free coatings. Joggers and cyclists should exercise away from traffic and avoid peak driving hours (Harte et al. 1991). As a nation, strides are being made to lower contact with lead on day to day bases. On the other hand, countries around the world need to learn from history’s mistakes on lead usage; otherwise, they are just going to repeat the past. The effects of lead on children's brains Essay -- Environment, Toxic M Once used for varying applications, lead is now known for its toxicity in the human body. Dr. Gary Goldstein, the chief executive of Kennedy Krieger Institute wrote, â€Å"Exposure to excessive amounts of inorganic lead during toddler years may produce lasting adverse effects upon brain function (Goldstein 1990).†Lead poisoning awareness has become increasingly prevalent in the American government, with lead poisoning testing recommended as early as nine to twelve months of age (Health and Human Services 2011). This paper will explain briefly lead’s history and industrial uses, as well as give an in-depth analysis on lead’s exposure to children and how it affects their developing brains. Lead, simply put, is an element found in the earth’s crust. It is slightly soluble in water and is transported mainly through the atmosphere (Harte et al. 1991). The human usage of lead dates back to five- thousand years ago when it was discovered that small quantities of silver could be extracted from lead ore (Harte et al. 1991). The ancient civilizations of Phoenicia, Egypt, Greece, India, and China used lead for vessels, roofs, water ducts, utensils, ornaments, and weights (Harte et al. 1991). Romans used lead acetate as an artificial sweetener in their drinks. Lead acetate, known as sugar of lead, would sweeten a vintage without causing further fermentation, which would have occurred with the addition of sweeteners like honey (Le Courteur and Burreson 2003). The Romans also used lead pipes for plumbing their homes with water. The Latin name for lead is Plumbum (like the word plumbing) hence the symbol Pb on the periodic table (August 1998). Only the rich Romans had access to water in their homes through lead pipes. Lead poisoning from th... ...ead levels are above 45 ÃŽ ¼g/dL (Ginsberg and Toal 2006). In conclusion, lead is a very widespread poison that has been intertwined throughout the history of mankind. To prevent poisoning from this toxic substance, foods should be washed prior to cooking of eating. Hands, particularly those of young children, should be washed before meals (Harte et al. 1991). Flaking lead-based paint needs to be removed by a professional; intact lead paint on buildings should be maintained occasionally by painting over using lead-free coatings. Joggers and cyclists should exercise away from traffic and avoid peak driving hours (Harte et al. 1991). As a nation, strides are being made to lower contact with lead on day to day bases. On the other hand, countries around the world need to learn from history’s mistakes on lead usage; otherwise, they are just going to repeat the past. The effects of lead on children's brains Essay -- Environment, Toxic M Once used for varying applications, lead is now known for its toxicity in the human body. Dr. Gary Goldstein, the chief executive of Kennedy Krieger Institute wrote, â€Å"Exposure to excessive amounts of inorganic lead during toddler years may produce lasting adverse effects upon brain function (Goldstein 1990).†Lead poisoning awareness has become increasingly prevalent in the American government, with lead poisoning testing recommended as early as nine to twelve months of age (Health and Human Services 2011). This paper will explain briefly lead’s history and industrial uses, as well as give an in-depth analysis on lead’s exposure to children and how it affects their developing brains. Lead, simply put, is an element found in the earth’s crust. It is slightly soluble in water and is transported mainly through the atmosphere (Harte et al. 1991). The human usage of lead dates back to five- thousand years ago when it was discovered that small quantities of silver could be extracted from lead ore (Harte et al. 1991). The ancient civilizations of Phoenicia, Egypt, Greece, India, and China used lead for vessels, roofs, water ducts, utensils, ornaments, and weights (Harte et al. 1991). Romans used lead acetate as an artificial sweetener in their drinks. Lead acetate, known as sugar of lead, would sweeten a vintage without causing further fermentation, which would have occurred with the addition of sweeteners like honey (Le Courteur and Burreson 2003). The Romans also used lead pipes for plumbing their homes with water. The Latin name for lead is Plumbum (like the word plumbing) hence the symbol Pb on the periodic table (August 1998). Only the rich Romans had access to water in their homes through lead pipes. Lead poisoning from th... ...ead levels are above 45 ÃŽ ¼g/dL (Ginsberg and Toal 2006). In conclusion, lead is a very widespread poison that has been intertwined throughout the history of mankind. To prevent poisoning from this toxic substance, foods should be washed prior to cooking of eating. Hands, particularly those of young children, should be washed before meals (Harte et al. 1991). Flaking lead-based paint needs to be removed by a professional; intact lead paint on buildings should be maintained occasionally by painting over using lead-free coatings. Joggers and cyclists should exercise away from traffic and avoid peak driving hours (Harte et al. 1991). As a nation, strides are being made to lower contact with lead on day to day bases. On the other hand, countries around the world need to learn from history’s mistakes on lead usage; otherwise, they are just going to repeat the past.
Wednesday, September 18, 2019
Individuation in Sir Gawain and the Green Knight Essay -- Sir Gawain G
Individuation in Sir Gawain and the Green Knight Sir Gawain is, undoubtably, the most varied of the Arthurian characters: from his first minor appearance as Gwalchmei in the Welsh tales to his usually side-line participation in the modern retelling of the tales, no other character has gone from such exalted heights (being regarded as a paragon of virtue) to such dismal depths (being reduced to a borderline rapist, murderer, and uncouth bore), as he. This degree of metamorphosis in character, however, has allowed for a staggering number of different approaches and studies in Gawain. The greatest part of these studies have involved the middle-English text Sir Gawain and the Green Knight. Extensive work has been done on this alliterative four-part poem written by an anonymous contemporary of Chaucer: feminists have attacked his diatribe against women at the end, or analyzed the interaction between Gawain and the women of Bercilak’s court; those of the D. W. Robertson school seek the inevitable biblical allusions and allegory concealed within the medieval text; Formalists and philologists find endless enjoyment in discovering the exact meaning of certain ambiguous and archaic words within the story. Another approach that yields interesting, if somewhat dated, results, is a Psychological or Archetypal analysis of the poem. By casting the Green Knight in the role of the Jungian Shadow, Sir Gawain’s adventure to the Green Chapel becomes a journey of self-discovery and a quest - a not entirely successful one - for personal individuation. The Jungian process of individuation involves â€Å". . . a psychological growing up, the process of discovering those aspects of one’s self that make one an individual differe... ... until he does complete his quest of individuation, he shall never be nor feel whole. Works Cited and Consulted Anonymous, â€Å"Sir Gawain and the Green Knight†in The Norton Anthology of English Literature, eds. Abrams, et al. (New York: Norton, 1993), 200. Carl Gustav Jung, â€Å"The Principle Archetypes†in The Critical Tradition: Classic Texts and Contemporary Trends, ed. David H. Richter (New York: St. Martin’s Press, 1989), 666. Guerin, Wilfred L., et al., eds. A Handbook of Critical Approaches to Literature. Toronto: Oxford UP, 1992. Lacy, Norris J. and Geoffrey Ashe. The Arthurian Handbook. New York: Garland Publishing, 1988. Stephen Manning, â€Å"A Psychological Interpretation of Sir Gawain and the Green Knight†in Critical Studies of Sir Gawain and the Green Knight, eds. Donald R. Howard and Christian Zacher (Notre Dame: Notre Dame UP, 1968), 279. Individuation in Sir Gawain and the Green Knight Essay -- Sir Gawain G Individuation in Sir Gawain and the Green Knight Sir Gawain is, undoubtably, the most varied of the Arthurian characters: from his first minor appearance as Gwalchmei in the Welsh tales to his usually side-line participation in the modern retelling of the tales, no other character has gone from such exalted heights (being regarded as a paragon of virtue) to such dismal depths (being reduced to a borderline rapist, murderer, and uncouth bore), as he. This degree of metamorphosis in character, however, has allowed for a staggering number of different approaches and studies in Gawain. The greatest part of these studies have involved the middle-English text Sir Gawain and the Green Knight. Extensive work has been done on this alliterative four-part poem written by an anonymous contemporary of Chaucer: feminists have attacked his diatribe against women at the end, or analyzed the interaction between Gawain and the women of Bercilak’s court; those of the D. W. Robertson school seek the inevitable biblical allusions and allegory concealed within the medieval text; Formalists and philologists find endless enjoyment in discovering the exact meaning of certain ambiguous and archaic words within the story. Another approach that yields interesting, if somewhat dated, results, is a Psychological or Archetypal analysis of the poem. By casting the Green Knight in the role of the Jungian Shadow, Sir Gawain’s adventure to the Green Chapel becomes a journey of self-discovery and a quest - a not entirely successful one - for personal individuation. The Jungian process of individuation involves â€Å". . . a psychological growing up, the process of discovering those aspects of one’s self that make one an individual differe... ... until he does complete his quest of individuation, he shall never be nor feel whole. Works Cited and Consulted Anonymous, â€Å"Sir Gawain and the Green Knight†in The Norton Anthology of English Literature, eds. Abrams, et al. (New York: Norton, 1993), 200. Carl Gustav Jung, â€Å"The Principle Archetypes†in The Critical Tradition: Classic Texts and Contemporary Trends, ed. David H. Richter (New York: St. Martin’s Press, 1989), 666. Guerin, Wilfred L., et al., eds. A Handbook of Critical Approaches to Literature. Toronto: Oxford UP, 1992. Lacy, Norris J. and Geoffrey Ashe. The Arthurian Handbook. New York: Garland Publishing, 1988. Stephen Manning, â€Å"A Psychological Interpretation of Sir Gawain and the Green Knight†in Critical Studies of Sir Gawain and the Green Knight, eds. Donald R. Howard and Christian Zacher (Notre Dame: Notre Dame UP, 1968), 279.
Tuesday, September 17, 2019
Alfred Lord Tennyson †The Charge Of The Light Brigade Essay
Discuss the poets’ different attitudes to war, as presented in The Charge Of The Light Brigade and Exposure A more experienced poet known as Alfred Lord Tennyson wrote the Charge Of The Light Brigade. He was born in 1809 and died of old age in 1892. He wrote The Charge Of The Light Brigade in response to a Newspaper Report from the Times, which was written by W.H.Russel, so his understanding of the war was from second hand knowledge, he was removed from the action. Unlike Wilfred Owen, who wrote Exposure. Owen was born in 1893 and died at a very young age in 1918. The reason for his young death was, he was a participant in the war and died during battle, so his was writing from his own experiences. Although Owen was a less experienced writer, his poems only really became known after his death, as he had a less authorative voice. The main similarities between the two poems is that they are both writing about wars, however both wars are from a different time and so are fought in completely different ways. Tennyson wrote The Charge Of The Light Brigade about the Crimean war, which was originally between France and Russia but Britain joined because she worried about her security. The Crimean war was fought on horseback, which meant that it would be over fairly quickly. I think this because it would have been one charge, this battle would then have gone on until all the soldiers in one side were injured or dead. He was very far removed from the action, as he didn’t even witness the war, so his poem written is third hand. Where as Owen wrote Exposure from first hand experience. For these reasons I may be able to place more value on Wilfred Owen’s poem. The First World War was fought over several years and the soldiers spent a lot of that time in trenches. The mood, tone and language in each poem are completely different from the other. In The Charge Of The Light Brigade the mood is very light and gives the feeling that all the soldiers, were excited about what they were doing. This is helped by the fact that Tennyson doesn’t go into the atrocities of the war, instead writing of â€Å"When horse and hero fell†. Here he is basically saying that they have been shot down, but the way Tennyson puts it, it’s like it’s not that dramatic, when it is. In The Charge Of The Light Brigade it doesn’t really distinguish those soldiers that died in battle and those that lived, â€Å"Then they rode back, but not the six hundred†. This is what I think plays a big part in making the mood of the poem so light, as it avoids death, which is upsetting. Where as in Exposure the mood is very depressing and dismal as Owen is constantly saying how the soldiers were being attacked in different ways. He mentions the weather attacking them, which can be seen from â€Å"in the merciless iced winds that knive us†. As well as things like the barbed wire in front of the enemies trenches, â€Å"Like twitching agonies of men amongst its brambles†. However the poem doesn’t mention soldiers attacking them, which may indicate that the weather and other things were more threatening and chilling, then the enemy. In Exposure Owen speaks of the soldiers’ pain and this is what I think makes the poem so disheartening to read, because he is trying to show how war causes suffering and reduces the soldiers. Unlike Tennyson who is trying to honour and glorify the soldiers and so making the poem seem more pleasant. However in some ways the poems are similar as the language used indicates that poets generalise and universalise all the men in the war. The Charge Of The Light Brigade is a lot more structured then Exposure. This is because in Tennyson’s poem he talks about the different stages of the battle, where as Owen doesn’t really mention battle, it’s more about the soldiers’ suffering. In The Charge Of The Light Brigade Tennyson goes through each stage of the battle, within each individual stanza. So in the first stanza the soldiers have been ordered to start their charge. The second stanza is quite an important part of the poem, as we discover that the soldiers had been given the wrong order. However because they are so disciplined and loyal to their country, no one questions it. Tennyson is trying to glorify and honour the soldiers so he simply says, â€Å"Not though soldiers knew, someone had blundered†. In the third stanza the soldiers are in range of the enemy’s guns and in stanza four, the soldiers are forced to turn back because so many men have been killed. Even though at this point the British soldiers are being defeated Tennyson emphasises their bravery. That takes the readers attention off the fact that they are losing so badly. An example of this is, â€Å"Sabring the gunners there†. The word sabring has been used very cleverly as it gives the reader the impression that the British soldiers were hacking away at the Russians, because Tennyson was writing the poem to honour The Light Brigade. In stanza five the British soldiers are still not out of danger despite turning back, as more Russians have come in behind them, so even more soldiers get killed. Stanza six is simply Tennyson reflecting on their bravery. In Exposure there isn’t such an obvious structure. In stanza one Owen talks about the soldiers being attacked by the weather and in stanza two they are being attacked by the enemy’s barbed wire and it goes on like this. The weather is continually being described in different ways, one very effective way is when Owen uses alliteration, †Dawn massing in the East her melancholy army†. There is no real progression to the poem because it mirrors what is going on in the war, as they are stuck in trenches. The rhythm in each poem is completely different form the other. The Charge Of The Light Brigade has a very lively and energetic feel to it, this is due to its incredibly fast pace. In contrast Exposure has a very slow rhythm like the progress of the war. However in the third stanza there is a change in pace and it picks up just a little bit. This is due to the rhythm sounding like the bullets being described in the stanza, â€Å"Sudden successive bullets streak the silence†like the shells being shot in The Charge Of The Light Brigade. But the pace returns to its gloomy rhythm in the next stanza. In The charge Of The Light Brigade the rhythm of the poem sounds very much like the rhythm the galloping horses would make, this can be seen from â€Å"Half a league, half a league onward, all in the valley of death rode the six hundred†. I also think that the discipline of the British soldiers shows in the discipline of the rhythm. Each poem gives a completely different image of war, because they were written for different purposes and from different points of view. In The Charge Of The Light Brigade Tennyson uses a lot of similes and metaphors to create tension in the poem. He also uses similes to give the reader a better image of the battle and to show how heroic the soldiers were. Where as in Exposure Owen uses similes and metaphors to show how much the soldiers around him have been reduced, and the only thing they have to keep them going is happy memories. In The Charge Of The Light Brigade the first noticeable and most repeated image is â€Å"All in the valley of death†. I think that Tennyson choose to describe the charge like this because death is a very moving word. The word â€Å"all†unites the soldiers and due to the image of the extreme danger, given by the word death, shows the soldiers bravery, it also gives the idea of a big sacrifice. Not only do we get the feeling of danger, but Tennyson also discreetly describes sounds, through the use of onomatopoeia, â€Å"Volleyed and thundered†. I think that this is really clever, as it adds realism to the poem. When Tennyson uses alliteration, the words he uses sound like the hissing of the artillery on the battlefield. An example of this is â€Å"Stormed at with shot and shell†. Tennyson uses euphemism to describe the British soldiers killing the enemy; he uses words like â€Å"flashed†and â€Å"sabring†. The British soldiers are basically killing people, but the way Tennyson describes it, it’s as if they are doing it elegantly and almost gracefully. All of these images give the main picture that the war was glorious. The reason we get this image of the war is because Tennyson hides the realities behind euphemism, unlike Owen who shows the war for what it really is. Right from the first word â€Å"our†we immediately know that it has been written from the point of view of the narrator. Owen gives a very chilling image to the war because he has experienced it, he can say what he has seen and felt. The use of personification shows how the soldiers looked on the outside: â€Å"Attacks once more in ranks, on ranks of shivering grey†. Here Owen is talking about the weather attacking the soldiers, because the soldiers looked so grey and dull. Owen also adds â€Å"shivering†to the sentence, which could show that not only were they shivering because they were cold, but because they feel cold in their hearts like they’ve been forgotten. Owen uses alliteration to emphasise that the men have no luxuries, unlike Tennyson who used alliteration to show the excitement of the war. In Exposure the uses of alliteration gives the reader the image that it’s as if the weather is trying to find them to put them through more distress, this can be seen from â€Å"Pale flakes with fingering stealth come feeling for our faces†. However I think Owen saves the most moving image for the end, unlike Tennyson who reflects on the heroism of the men during the battle, Owen shows just how terrible it is. In the final stanza Owen creates a very strong image, â€Å"Pause over half-known faces. All their eyes are iced†. To begin with it seems as though Owen is talking about the dead soldiers eyes being iced, because they are dead, but he is also talking about all the soldiers who are still alive and have to look at them. Owen is saying that in order to cope with what the soldiers have to face out in the trenches their eyes have also iced over, as they have no feeling any more. In Exposure we get the impression that it is probably easier to be dead, as you have gone to a better place and the pain and suffering stops, as soon as your spirit leaves your body. When I read Charge Of The Light Brigade I didn’t feel very much inside, because the images that were given through the use of personification and other things were glorious. In Exposure the image seemed very real, because the poet was really writing from the heart and it made me feel quiet and lonely inside. Exposure and The Charge Of The Light Brigade both use repetition to show the reader that there have been casualties in the war. In The Charge Of The light Brigade different words are repeated to highlight different things. To emphasise the courage of the charge Tennyson repeats, â€Å"Forward, the light brigade†and â€Å"The valley of death†, which gives the idea that there is no turning back. In stanza two, three lines begin with â€Å"their†. This is used to show the discipline of the soldiers, that not one of them is questioning the wrong order. At the end of the first three stanzas Tennyson is still repeating, â€Å"Rode the six hundred†, this use of repetition gives the idea that the soldiers are still alive. However the final line of stanza four, â€Å"Not the six hundred†shows that not all the soldiers were going to come back from the valley of death. In stanza five some of the lines from stanza three are repeated, â€Å"Cannon to the right of them†, this gives the idea that even though they are on their way back the danger still surrounds them. At the end of stanza five Tennyson has said, â€Å"Left of six hundred†. He is still repeating â€Å"six hundred†, but has changed the words in front of it, to give the idea that the number of losses was more then the number of survivors. Exposure doesn’t have has much repetition in as The Charge Of The Light Brigade, but it too has the majority of its repetition at the end of each stanza. The repetition of â€Å"But nothing happens†in three of the stanzas and the final stanza, give the image that the soldiers are almost waiting to die. The use of repetition in this ways indicates that they feel forgotten, because they have gone out to the trenches to do a job, and they are unable to do that job properly. In stanzas five, six and seven Owen repeats, â€Å"dying†at the end of each stanza. By doing this I get the impression that not only are the soldiers dieing because they are being attacked, but their spirits are dying as well as their love for things, it’s like they have lost themselves in the strong winds that surround them. So in both poems the use of repetition sums up the casualties of war, in Exposure they are shown in a more harsh way, then in The Charge Of The Light Brigade. Both poems are completely different in the way they portray the war, in that Exposure uses realism and The Charge Of The Light Brigade uses euphemism. The reason for there being such a lot of euphemism in The Charge Of The Light Brigade is because Tennyson wants to praise the soldiers. He also uses euphemism to hide behind the grim realities of life. A very good example of euphemism in the poem is, â€Å"Sabring the gunners there†. It is basically saying that the British soldiers were hacking away and killing the enemy, but it isn’t described like that because the aim of Tennyson’s poem was to honour the soldiers. The word â€Å"sabring†makes the British soldiers sounds elegant and sophisticated, as if they aren’t doing anything wrong. So in order to honour the Light Brigade Tennyson hides behind euphemism. In contrast Owen uses realism in his poem because he wants to show war for what it really is. In everything he says he is very blunt and relates even the simplest things to every day horrors. By using realism Owen shows the reader that the only thing the soldiers have to keep them going are memories, an example of this is, â€Å"Slowly our ghosts drag home: glimpsing the sunk fires glozed†. This emphasises that the soldiers have no luxuries and how now they take nothing for granted, because they now realise it isn’t always going to be there for them. The reason for The Charge Of The light Brigade using euphemism and Exposure using realism, is because each writer is trying to give a different image of the war, for different reasons using these methods. In conclusion both poems appear to be very similar when I first looked at them, however the only thing they have in common is that they are both about wars. The reason they only have this in common is for two reasons. The first reason is that both wars were completely different types of wars. The second reason and the most important, is that the writers show different attitudes towards war. In Charge Of The Light Brigade Tennyson wrote the poem to honour and glorify the soldiers that fought in the war. So the way he presents the poem, it’s as if Tennyson is saying that war is good thing to part of. I think the other reason for him putting such a positive image on the war was because he didn’t fight in it, therefore there are no feelings included in his poem. So because Tennyson approves of the soldiers loyalty there are no signs of irony. Where as in Exposure Owen, who fought in the war, is able to include feelings. Due to having such a horrible time in the trenches, these feelings are sad and seem painful, putting war in a completely different light. Unlike Owen, Tennyson believed that no good could come from war, and although Owen is against war Exposure isn’t an anti-war poem. However the one attitude that both writers show in their poems, is that you have to fight sometimes to preserve what is good.
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