Impact Of Exchange Rate On Inflation In Pakistan

Impact Of Exchange Rate On Inflation In Pakistan Inflation exchange rate are two main factors of macro-economics. Inflation is a rise in the general level of prices of goods services in an economy by the passage of time. Exchange rate is very important factor in economic which impact imports exports of country. A country does not always want the exchange rate to fluctuate because an exchange rate influences the levels of its imports exports, which are the component of fiscal policy. Policy makers want to hold rate at a particular level or within a certain range in order to achieve given domestic policy goals related to the level of growth of GDP. In the perfect mobility the exchange rate movements and an adjustment of goods market is relative to asset market and consistent expectations. The extends that output responds to a monetary expansion in the short run, this acts as an effect on exchange depreciation which lead to an increase in interest rates (Dornbusch, 1976). There are three types of ways which gives stickiness in prices, the prices set by the firms in that currencies, the firms set the prices for currencies of consumers, or firms set the prices in the currencies of producers (Engel, 2001). When the exchange rates changes, the changes appear in the relative prices and make to generate additional uncertainty for equilibrium in markets. However, there is also defining that the changes in terms of trade play the larger role of changes in the exchange rates which affect the variability of exchange rates (Stockman, 1980). Inflation is one of the key indicators of the country and provides important information on the state of the economy and sound macroeconomic policies that govern it. Inflation is the production of the expenses of manner of things arise which leads to the advancement of the last in the price of meals. For example, if the matter is hardy and this leads to the increment of the price of the production of the costs of increasing, and in turn this leads to increasing prices to keep the crowd his profits. The discretionary nature of the existing monetary policy in Pakistan is inflation, and it is targeting to hit on the Pakistani economy by focusing attention on the monetary policy. So the government of Pakistan is to make monetary policy more transparent for achieving the explicit goal, and decreasing the inflation. Therefore, it is increasing the public understanding of the strategy of central bank to deliver the target, so the State Bank of Pakistan helps to provide an anchor for inflation expectations in the economy. The State Bank of Pakistan (SBP) has achieving a low rate of inflation in a high priority, and also aims to support the national country objectives of Pakistan to meet the economic diversification and competitiveness in the form of export from the world. 1.2 Problem statement This study is to examine the impact of exchange rate on inflation in Pakistan economy. 1.3 Hypothesis H1: The Exchange rate explains the inflation. 1.4 Outline of the Study The variability of industrial production output higher in the regime of fixed exchange rates instead of regime of flexible exchange rates (Flood Hodrick, 1986). The effect of consumption goods purchases by the government is not the private utility, but per capita real government expenditure are the composite of individual consumption of goods. So notice that the demand of money depends on consumption of goods rather than income and that is the important distinction of closed economies (Obstfeld Rogoff, 1995). Pakistan major import is crude oil which is purchased in dollars. If foreign exchange rate increases, it has increased the cost of oil that has adverse impact on the economy of Pakistan. Inflation is also caused by international loans and the national debt. As nations borrow money, have to deal with the interest that the final prices increase as a way to keep up with debts. The main problem of Pakistan is external debt, which has altered the economic balance. The most immediate effect of inflation is the declining purchasing power of the rupee and its depreciation. This study has been helpful for economic policy makers, foreign investors, economic analysts, business students who are interested in macro-economics studies. This study identifies how two macro-economic factors are related with each other. 1.5 Definitions Variables: For this study the following variables have utilized:- Exchange Rates Independent Variable: The exchange rates are foreign exchange rate between two currencies. Every country has a foreign exchange market and is one of the largest markets in all countries of the world. It converts 3.2 trillion USD currency conversion. It has two types i.e. fixed and floating exchange rates. Meese and Rogoff (1988), it depends on fundamentals such as money supplies, real incomes, interest rates and inflation. Listen Read phonetically Dictionary View detailed dictionary Inflation Dependent Variable: Inflation has increased the general level of prices of goods and services in an economy by the passage of time. Price inflation measure is the rate of inflation, the annual percentage change in general price index (usually the Consumer Price Index) over time. Effects of inflation on the economy have manifold and simultaneously positive and negative. Negative effects of inflation include a decrease in the real value of money and other monetary items over time, uncertainty over future inflation which discourages investment and savings, and high inflation leads to shortages of goods if consumers begin hoarding out of concern that prices increase in the future. Positive effects include a development of economic recessions, and debt assistance by reducing the real level of debt. CHAPTER 2: LITERATURE REVIEW The analysis of the monetary determinants of inflation is of obvious interest for the nations that pursue a policy of inflation targeting. This study focuses on Pakistani economy that is currently following an Inflation targeting approach or did so in the recent past. Currency stability plays an important role for the monetary authorities in this economy. Exception of real money growth rule is included in the estimation of Phillips curves for the four economies Bayesian model averaging (McCallum, 1999). Entrepreneurs seek stability in the course says that keeps the price of imported items from growth due to rupee depreciation, which is not only support the economy in general, but also exporters who use large amounts of imported cases in the production of exportable surplus. Since the beginning of this fiscal year, while the rupee has lost about 2.5 percent of its value against the dollar and its depreciation rate is unlikely to accelerate in the coming months due to continued inflow of foreign capital and funds. Also include the support of IMF, partial release of the fund, a coalition of U.S., which is part of its payment obligations by the Friends of Democratic Pakistan, extremely strong inflow of return of foreign workers of portfolio investments and possible pick-up in exports and foreign direct investment in the second half of fiscal year. Current rupee stability has helped in containing imported inflation and weakening inflation expectations. Bankers expect that trend continues throughout this financial year, a national unit is depreciated more than 7.0-7.5 percent during the entire fiscal year, against 19.5 percent last year. Businesses verify that the bankers are the forward currency cover in accordance with this expectation. What Pakistan needs today is not a platform to launch an economic revival program but what people need is an actual economic revival. The main problem of Pakistan is the foreign debt which has risen to unmanageable proportions in the last decade and the repayment of which has created turbulence in external balance of Pakistan to such an extent that it does not meet its minimum necessary development requirements. At present Pakistan cannot survive without fresh borrowings from foreign donor agencies. As emphasized by Choudhri and Hakura (2006), an important policy debate for the contemporaneous monetary and exchange rate policy implementations is to reveal the degree to which changes in exchange rates or import prices impact or pass-through into domestic consumer prices. Presently there are three rates of exchange i.e. the bank rate, the inter bank rate and the open market rate. The overall effect on the foreign exchange rates should not be more than 5 to 6 per cent as the increased inflow of foreign exchange have neutralize the effect of the increased demand of private imports. If the foreign exchange earners and remitters keep on getting a fair exchange rate for earnings, it is visualized that in the next few years exports can touch the $15 billion mark and overseas Pakistani remittances can fetch $5 billion. It was concluded that the exchange rate feed shock on domestic inflation, first at the level of prices of the manufacturer and then the level of consumer prices and the impact of shocks on the variables of price the various stages of the supply is different. The purchasing power parity theory doctrine means different things to different people. There are two versions of this theory that is called the absolute and the relative interpretation. The first version of purchasing power theory calculated as a ratio of consumer goods prices for any country that has tended to the equilibrium rates of exchange. In the second version of relative interpretation the rate of exchange rate have been determined between the two countries and quoted with general levels of prices of two countries. This version amend the international trade theory which have been the part of PPP, in which the non-traded goods (services) has been introduced, but the advantage is greater in regards of traded goods than non-traded goods, because of the assumptions of marginal rates of transformation. The relationship between purchasing power parity and exchange rates provides the international comparison of national incomes and living standards (Balassa, 1964). Lawrence (1976) gave another review of this purchasing power parity theory. It has define two applications in economics, the first application use of the conversion factor to transfer the data in one national way to another. The use of PPP is mainly the body of (index number theory) and applications of GDP that have improved over the years and path breaking studies in the area continue to appear. The second application of PPP did not have the widespread acceptance, which has remained the unsophisticated applications. Stockman (1980) develops the model of determination of prices of goods and exchange rates. The changes in commodity prices due to supply and demand affect the change in exchange rates by purchasing power parity deviations.The changes in exchange rates have failed to resemble the changes in prices of goods, because exchange rates more volatile than prices levels and inflation rates. The study proposes the equilibrium of exchange rates behavior and different international goods that have been traded. This relationship cannot exploited by the government, because greater the changes in terms of trade the larger the changes in exchange rates variability. The deviations from PPP persists that variation of exchange rates more than ratios of price indexes. The results found the two interpretation of the relationship between exchange rates and terms of trade. In the first, the causes that affect the changes in exchange rates also affect the change in terms of trade because prices of goods do not adjust to clear the markets. This interpretation also found in the research of Dornbusch (1976), and Isard (1977), the analysis formally differentiates the system with respect to exchange rates and allow prices to change but not the changing in asset stocks. The interpretation presented the elasticity approach of the foreign exchange market and the relation between the trade and exchange rates. Real supply and demand shocks affect prices and the derived demand of exchange rates. These changes in demand for foreign exchange result the supply and demand shocks and that should affect the equilibrium of exchange rates. In second interpretation the expected rate of change of exchange rates revealed on the forward foreign exchange market. This should be related the anticipated change in the terms of trade and the inflation differentials. A persuasive argument about the level of exchange rates is only associated with not causes of the relative prices changes. Bilson (1985) gives the empirical findings about macroeconomic and flexible exchange rate of the U.S dollar related to PPP theory. From the perspective of this research, the sluggish price adjustment in the commodity markets resulted in increased variability in exchange rates. For the demonstration of result it is important because the instability of floating exchange rate is due to the inherent differences between commodity and foreign exchange markets. The determination of the expected future rate is impossible, because it is more difficult to reject the forward parity condition. The major part of the forward parity is the variation in the premium is due to the forecast. The object of this study is to determine that if the forward parity failed is the cause of instability in the same way that the failure of purchasing power parity. The findings develop that currency risk premium is the important factor relative to floating rate system, and movement in the exchange rate are dominated by the non speculative activity and it has the adverse effect on world economy. Meese and Rogoff (1983) analyzed the outcome of sample forecasting accuracy on various models. The study estimated the horizons of the dollar with different country currencies, like Dutch mark, Japanese yen, and Britain pound that traded to weight the dollar exchange rates. It has also studied the flexible exchange rates with the monetary models of sticky price, so the model of sticky price, which incorporates the current account. The first model is structural models in which it requires to generate the forecasts of exchange rates and explanatory variables. It contains the explanatory power, but it is predicted badly because the explanatory variables are difficult to predict. The second is the univariate time series model in which it identifies a variety of prefiltering techniques involves differencing, de-seasonalizing and removing time trends. The relative performance of these techniques is of interest in itself. The third model use is the random walk model. It is also linked with this univariate time series model. It is used as the predictor of the current spot rate with the entire future spot rate, and it requires no estimation. In this study the performance of estimated univariate time series models or candidate structural model is no good instead it is worst. From a methodological stand point the view that the outcome of sample model fit is an important criterion when evaluating exchange rate, but the estimation of out of sample is failure with time series models that are well approximated the major country exchange rates. Feinberg and Kaplan (1992) evaluated and interact the real exchange rates index expectations is developed and used to explore the role of determination on domestic producer prices. The fact that time path of the exchange rate has directly affected the input costs, and the price of substitutes strongly. To examine the links between both actual and anticipated movements in the dollar and relative domestic producer prices, it chooses to analyze price responses to real exchange rate changes. The effect is dependent on the nature of substitutability between imports and domestic goods. The major finding is that the period of appreciation and depreciation over the past 10 years to inhibit the pass through in to domestic prices. In depreciation the market share to enjoy the continued good times kept prices other than expected. The theory of optimum currency areas, which is usually presented by the other name called flexible exchange rate system, but it is proponent as a device of depreciation that takes place of unemployment when the balance of payment is deficit and appreciation when it replaces inflation when it is surplus. The problem can be exposed and more revealed by defining a currency area within when exchange rates are fixed. Three answers can be given, first certain parts of the world are going through the process of economic integration, so new experience can be made and what constitutes the optimum currency area can be given the meaning of these experiments. Second those countries that have flexible exchange rates are likely to face problems with the theory of optimum currency areas, so these do not coincide the optimum currency areas with the national currency. Third the idea that illustrates the functions of currencies which have been treated in economic literature, and sometimes neglected in the problems of economic policy. In the currency area, countries with different currencies including national country currencies interact pace of employment in deficit, because there is the presence of inflation in the surplus countries. The argument for flexible exchange rate system is based on national currencies, and is valid about mobility of factor, so if it is high in the country and low in the foreign countries, the flexible exchange rates system on home country currencies has to work effectively. The concept of optimum currency area has practically applicable only in those areas, where the state has the political organization in the country. The factor mobility is most considered and is more relative rather than absolute concept, with both industrial and geographical factors. It is likely to change the alterations with time over time in conditions, with the conditions of political and economic stability. Money is the convenience that restricts the optimum number of currencies, so in terms of this argument the optimum currency area which is composed in number of countries (Mundell, 1961). In another review, the author defines the stabilization of capital mobility policy under the exchange rates which is fixed and flexible in the currencies markets. It concerns the theoretical and practical approach of the increased mobility of capital. Obstfeld and Rogoff (1995) analyses the global macroeconomic dynamics to supply framework based on competition and nominal prices. This study incorporates the prices rigidities that explain exchange rate behavior without insights of the intertemporal approach to the current account. The effects of macroeconomic policies on output and exchange rates have not been yet persuaded to abandon. The framework which integrated exchange rates dynamics and current account yields is a new perspective, it realize that when prices are sticky the government should spend on shock raises short run output and long run output. The assumption is that home and foreign government purchases the consumption goods that do not directly affect the private utility, but the per capita real government consumption expenditure is a composite consumption of individual goods. It explains that the composite consumption for the services is to balance the opportunity cost and notice that the money depends on consumption rather than income, that distinction is more important in closed economies. The results of this study develop framework that give new foundations about some of the fundamentals problems in international finance. It realizes that the existing Keynesian model is incomplete to offer a satisfactory treatment of exchange rates, output and the current account, but the model which is used in this study is more complex, because it yields simple and intuitive insights of monetary and fiscal policies. It can be extended in a number of dimensions, including non traded goods, market behavior, government spending, and labor market distortions and so on. It goes beyond the essentially statistical approach that handles the current account and exchange rates issues, most importantly this approach allows to analyze the welfare implications of policies. Melvin (1985) has regarded and focused that how the choice of an exchange rate system can affect the stability of the economy. The appropriate nature of the exchange rate system has differed of the disturbance to the economy. It presented the evidence that indicate that the approach is more consistent according to practice by actual country. The other approach is to reach the desirable price stability, in which some mechanism tells the floating rates superiority has become less in the face of monetary shocks. It finds that the flexibility in exchange rates depends not on openness and less important in the mobility of capital, but its positive effects were found for the economic development. The purpose of this study is to consider the determinants of exchange rates system choice, which indicates the theoretical approach with the country choices. The result found that the choice of an exchange rate system has the role of the disturbance to the economy. It suggests that the money shocks are the key of exchange rate system choice in an economy, in which it seeks to minimize the fluctuations in the country price levels. It also suggests that the greater the price shocks the more is a float, so it affects greatly domestic money shocks. Lothian and Taylor (1996) examines the real exchange rate behavior, and explains the variations in sample of stationary univariate equations in real exchange rates. The study investigates the additional insight in the exchange rates behavior that can be gained by considering the floating rate from the perspective of the data. These issues can be best understood on the subject of real exchange rates stability between the currencies of the major industrialized countries. Some of the pre-float studies support the fairly stable exchange rates in the long run. Subsequently, Dornbusch (1976), and Frenkel (1981), gave largely as the result of studies published, and reject the hypothesis of random walk behavior of real exchange rates. The PPP shows the empirical movements in real exchange rates were highly persistent and effective. Although the PPP is reject the hypothesis of non-stationary behavior of real exchange rates in the long run. The result of this study shows that the longest span of two countries exchange rates are significantly mean reverting. The first model result indicates the 80 percent of the variation in the exchange rates of the history data of two countries. By using of another model, the results explaining the performance of remarkably well in the floating, so that this model produce better forecasts of the actual exchange rates. In line with recent studies, it fined that this process of mean reverting is quit slow, with estimated adjustment of data. In the long run the PPP equilibrium is remaining a useful empirical approximation. Gerlach (1988) examine the dynamic interrelationship between innovations in monthly industrial production in a set of economies, specifically this study attempt the output fluctuations that have been correlated during the periods of fixed and flexible exchange rates. The current has to manage exchange rates flexibility that has reduces the interdependence across countries. It should follow the recent article of Flood and Hodrick (1986) in which it is argued that the variability have been higher during a regime of fixed exchange rates instead of flexible exchange rates, but the conclusion of author is striking so sharply. The results of this study of multiple country output movements under fixed and flexible exchange rates are clear. The variances of growth rates should be higher in the flexible exchange rates and in the fixed exchange rates periods. These variances are statistically significant related to the degree of openness and national income. Thirdly the output movements are correlated across countries under exchange rate regime, particularly the co movements in output are more important in the business cycle frequently during the recent years of managed exchange rates flexibility. CHAPTER 3: RESEARCH METHODS 3.1 Method of Data Collection The Data of Consumer price index (Inflation) has been collected from federal bureau of statistics while the data of exchange rate has been collected from Pacific Exchange Rate Service, both are the secondary, published source of data. 3.2 Sampling Technique The sampling technique that has been applicable is convenience sampling as it is easily accessible to collect the relevant information from the source and it is inexpensive and hence, gets a gross estimate of the results. (What is The Advantage of Convenience Sampling, 2007-2010). 3.3 Sample size The sample size is selected on the basis of limitations and scope of the research therefore, Last 54 years i.e., 1947 2010, data of inflation and exchange rate is decided to be examined. 3.4 Research Model developed From the above defined and explanations of both the dependent i.e. inflation and independent i.e. exchange rates variables and also discussing the effects of exchange rate on inflation and how it have affects on economic of a country. In this study first analysis is the correlation between these two variables, and identifies the significant relationship. Then it analyzes and evaluates the empirical investigation in regression model as a statistical tool. The simple regression model which can be defined in the equation that represented below: Inflation = ÃŽÂ ²Ãƒ Ã‚ ¾ + ÃŽÂ ²(exchange rate) + ÃŽÂ µ Whereas, ÃŽÂ ²Ãƒ Ã‚ ¾ = the intercept of the equation. ÃŽÂ ² (exchange rate) = the changing coefficient of exchange rate. ÃŽÂ µ = the error term of the equation. From the above explained model, the study develop the following estimation and used for the establishment of the model. Therefore, all the compatible data has entered in to SPSS for statistical analysis. 3.5 Statistical Technique The statistical test that has been applied is single linear regression. This is because only one independent variable and one dependent variable to be used in this research. Frankel (1979) defined that most of the recent work on floating exchange rate goes under the name of the monetary or asset view. The exchange rate is moving to equilibrate the international demand for assets, rather than the international demand for the flow of goods. But with the asset view there is Chicago Theory in which assumes that prices are perfectly flexible. As the consequences when nominal interest rate changes, it has also reflect the changes in expected inflation rate, so as the domestic currency expected to lose value through inflation and depreciation. This is the rise in the exchange rates and gets the positive relationship between positive exchange rate and inflation. CHAPTER 4: RESULTS 4.1 Findings and Interpretation of the result The simple linear regression technique is used to determine the explanation of dependent variable i.e. inflation due to independent variable i.e. exchange rate. The analysis of the result is defined below: Accepted The hypothesis of this study is that exchange rate explains the inflation, which is being accepted and exchange rate is explaining inflation by 17.3%. These findings support to recent theories that suggested the foreign exchange market efficiency with the existence of risk at equilibrium. Wihlborg (1982) examined the relation of interest rates, exchange rate and currency risks in this study. It identifies the test which empirically shows the impact of currency on interest rates and exchange rates. In this study there are three different ways in which the importance of currency risks for interest rate and exchange rate determination. The results presented here that substantiate the changes in the level of currency risk have a non-negligible impact on the changes of exchange rates and on rates of interest of relative between currencies. CHAPTER 5: CONCLUSION, DISCUSSIONS, IMPLICATIONS AND FUTURE RESEARCH 5.1 Conclusion This study is concluded to examine the dependency of exchange rate on inflation by using the data of consumer price index (CPI) as inflation and the data of exchange rate on yearly basis. The result of this study is highly significant so that the hypothesis of this study is not rejected. The result shows that 17.3% variation in inflation is due to the exchange rate in Pakistan. The analysis of this study also shows that if exchange rate becomes zero, the inflation exist to some extent. For example, if one unit of exchange rate increases, the inflation increases only by 0.693 times. 5.2 Discussions This study has applied exchange rate as independent variable and consumer price index (CPI) as dependent variable. For the availability of data, all the data should be available on daily monthly and yearly basis, but the data is used in order to consistent as yearly basis. The regression model has been formulated for these variable relationship investigations. The study developed the hypothesis that the exchange rate explains the inflation in Pakistan, and the findings are supported by the analysis done by Balassa (1964), Meese Rogoff (1983), Frankel (1979), and Mc Callum (1999) etc. 5.3 Implications and Future Research The result also accompanies that the exchange rates are the strength of character of foreign exchange market in Pakistan, and it should effect on each of the related variables as an inflationary basis. Therefore the State Bank of Pakistan and Government officials should realize the role of exchange rates in the economy and try to maintain exchange rates to stop or decrease the consumer price index in Pakistan, so that the price range of every thing should be in range of common men. Also government should address the issues that why exchange rates increasing, and why the consumer price increases due to foreign exchange volatility. If the Government takes effective actions against these issues so it can also facilitate the investors to gain confidence in the foreign exchange market and local currency value is strong from other foreign currencies. This has turned Pakistani currency to be stronger, and which has boost the economic growth. In this study, only exchange rate is taken to predict inflation in Pakistan. But in the country like Pakistan inflation is predict by the various variables like interest rate, money supply, foreign trade and so on. So in the future research other variables should be included.

Ecological Problems

In our lessons we amused about Earth, environment and many environmental problems (  global warming, ozone houl, waste production, etc. ). Nevertheless some of big environmental problems we are omited. I would like describe this phenomenons in this work. First problem is deforestation of Amazon rainforest and second is poluting of seas and oceans. At the end of this work I would like write somethink about The Czech Republic and problems what we have here. AMAZON FOREST This forest is very importatnt for the future of the world. This area contains one third of the world? s trees.However, the trees are disappearing. This is causing changes in the climate – In Peru there is less snow In Bolivia there is less rain and more wind. Why are the Amazon forests being cut? People need the land ,people have money from the trees,people built roads and Brazil owes money to internacional organization and they cut trees and they pay back debt. What will happen if more of the Amazon forest c ut down? There will be serious effects on the world? s climate. The air that we breathe will lose some of it? s oxygen. It means that in the air will be more carbon dioxide.It will become difficult- perhaps even impossible – to breathe! With more carbon dioxide in the air -the temperature will rise, the ice -capsat the North and South Poles will melt, the sea level will rise, and hundreds of coastal cities will flood. OCEAN Seas and oceans are very important for human life. There live many kinds of animals for example whales dolphins, sharks, fishes etc†¦ Sea? s fish are very important because they are important part of human food. The most fish consume China, Russia and Japanesse. Very important is water from the sea.This water contains mineralsand for example our is from this water. In the bottom under the land there is crude oil and gus. But people are very inconsiderate and they cause that our seas are polutted in this time saes and oceands are our big garbage dump. We should ask if we will continue what we will do in the future? CZECH REPUBLIC Also Czech Republic has its own problems. Probably the worst problem is air pollution. People burn brown coal which is the dirtiest kind. Factories fill the air with smelly and dangerous smoke. In winter the air is unpleasant In parts of country especially in Northern Bohemia, Prague and around Ostrava people have many health problems. Another big problem is the destruction of nature. Industry and ever-increasing population destroying many forests. This problem is called deforestation. People always need more space, factories, paper, wood. In the past twenty years people dosroyed many beautiful old forests in Moravia and Bohemia. But people establish CHKO – Landscape protected area here live many endangered species and you can find here many interesting plants. In LPA people can't make a noise ,faire,drop a litter go out from signated paths†¦

Essay on Is The American Dream Still Alive - 531 Words

I think the American Dream says that anything can happen if you work hard enough at it and are persistent, and have some ability. The sky is the limit to what you can build, and what can happen to you and your family expressed Sanford I. Weill. The American Dream is still alive and obtainable. Many people have a definition of what the American Dream that is obtainable in their minds. People all have unique individual lives. One of the reasons that the American Dream is still alive is that there are so many opportunities everyday. Most public schools provide students the necessities they need to succeed, so it is up to them whether or not one decides to use those necessities to achieve a goal. Most students in high school have an idea†¦show more content†¦Another reason the American Dream is still alive is that there are multiple job opportunities. One may not end up becoming a doctor or lawyer, but that does not mean one will not be successful. America is full of opportunities and work! Jobs that can be obtained with a simple GED are an apprentice, construction worker, and electrician. An individual may not be able to attend college, but that is reasonable, many successful people never obtained a college degree. Mark Zuckerburg, David Karp, and Evan Williams are all examples of successful people who never obtained a college degree. One may feel that the American dream is not alive due to the economy. Our country is in $17,267,498,701,548, 34 dollars of national debt as of February 10, 2014 (U.S. National Debt Clock). Due to this there is higher interest rates which keeps the value of the dollar higher, which may make it harder to obtain. The country has slower economic growth and weaker job markets, most interest rate profits will not go towards the public. The national debt also results in higher taxes which helps raise more revenue. 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Divorce in america Essay - 660 Words

â€Å"It is easier to divorce my wife of 26 years than to fire someone I hired one week ago. The person I hire has more legal clout....than my wife of 26 years. Thats wrong.quot; --Judge Randall Hekman, President of the Michigan Family Forum There are, undoubtedly, a number of causes for divorce. Divorce used to be considered scandalous and immoral. This contributed to many marriages surviving despite strains. However, as divorce becomes more common, the more natural and expectable it seems. The number of divorces per year per1000 people in the U.S. has been declining since hitting our highest point in1981. (â€Å"divorce_ rate†) The United States has one of the highest divorce rates in the world. As a, couple’s relationship, marriages are more†¦show more content†¦People today think that the primary purpose of marriage is to fulfill emotional needs. In the past, people married for practical reasons such as companionship or financial security. Today, Americans are likely to end a marriage when emotional needs are not being met. As an institution marriage has lost much of its legal, religious, and social meaning. (â€Å"rutgers.edu†) So how this breakdown of the American family influences ind ividuals is a question of much concern. The mother, who often gets custody, will have to seek a job out side of the home. This is because child support is inadequate. The children make more demands on her because their father is absent. She has little time for a social life. Finances are strained. Fathers also have a large burden to bear. He may be seeing his children, but in all probability, they will not seek him out for advice, help, or support. Recently there has been an increase in the number of fathers who are awarded custody of their children, 25 percent in the last three years and 75 percent in the last ten years, and is continuing to rise. In fact, families headed by a single father are growing faster than any other family group in the nation. (â€Å"manslife†) Men suffer a similar fate in this situation as women, with increased financial and emotional strain. Still another effect, for the children of divorce is, what they experience becomes a part of their inner world. As these young men and women face the task of creatingShow MoreRelatedThe Divorce Rate Of America959 Words   |  4 PagesDivorce Rate Throughout time, practices that were once never used, become more common. In the 1600s divorce was a forbidden practice or a last resort. Since then, laws have changed, and so hasn’t the stigma related with divorce. The guilt and fault that divorce once carried has vanished. According to the book Should I Keep Trying to Work it out, â€Å"In the United States, researchers estimate that 40%–50% of all first marriages will end in divorce or permanent separation. The risk of divorce is evenRead MoreEffect Of Divorce On America826 Words   |  4 Pagesdecreasing. The online database â€Å"The Effects of Divorce In America† connects to how many children will grow to see there parents divorce before the age of 18. â€Å"Mounting evidence in social science journals demonstrates that the devastating physical, emotional, and financial effects that divorce is having on these children will last well into adulthood and affect future generations†. This problem that is occurring with children being involved in divorces is causing the world to be kept at a low withRead MoreEssay on Divorce in America1453 Words   |  6 Pages  Ã‚  Ã‚  Ã‚  Ã‚  Divorce rates in the United States have increased dramatically in the past 25 years. Over 40 percent of the marriages among young Americans will end in divorce. There is a lot of stress on all the people involved. The man has to deal with, usually, not seeing his children, being alone, and the responsibility that is accompanied with much of the legal process. The wife has to go through, maybe, entering the work force for the first time. Children are often viewed as a back burner issueRead MoreToo Much Divorce in America607 Words   |  2 PagesIn today’s society it seems that divorce is as common as marriage. Statistics have shown that 50% of all marriages will end in divorce. In looking at the information available I decided to look at common causes of divorce and look how each one affects the marriage and creates dissension and animosity in the relationship. At the top of my list I have chosen communication. This is the number one key to anything if it is to be successful. For example if I tell you to go to Cleveland Ohio but I do notRead MoreDivorce Is Not A New Nor A Fading Trend1034 Words   |  5 PagesDivorce is not a new nor a fading trend. Since the time of Moses and through the centuries divorce has been a topic of discussion and something sought after by those in an unhappy marriage. Divorce has always been around, but not nearly as much as the last century. In America data has recorded the divorce rate since the mid-880s. The data acquired over the years concludes that divorce went from being a social taboo to a trend among friends, effecting the social views on divorce itself, marriage,Read MoreDivorce : The And Legal Ending Of A Marriage1741 Words   |  7 PagesDivorce, which is the termination and legal ending of a marriage of a couple, maybe of the opposite sex or of the same-sex, has been on a rise in America for the pa st thirty years. Almost every second person has a divorced member in its family today. America comes on the first place in terms of the number of divorces in the world. Divorce has been reported to be one of the major causes of suicide as well. Many factors lead to divorce in America, some of which are lying, for example- on online datingRead MoreEffects Of Divorce On The United States1041 Words   |  5 PagesThe topic of divorce, for many decades, has been a topic that fell into the domain of taboo. In more recent years, society within the united states has brought the topic into the limelight by desensitizing the term. Thus, the divorce rates in the US have went up. However, a divorce has both positive and negative implications. Also, there have been backlashes against divorce, but there has also been a positive feedback system employed to aid in the process that surround divorce. The partitioning betweenRead MoreThe Rise in Divorce Rate Essay examples925 Words   |  4 Pagesh ave caused divorce rates to increase. According to recent statistics made by the census bureau, the divorce rate in America is roughly 50 percent. There are a myriad of speculations as to why more people are not staying together. One reason is that people are getting married for the wrong reasons, such as unplanned pregnancies. Another reason is that women have become more independent so that they are not forced in to being in a marriage where they are not happy. Last, lenient divorce laws makeRead MoreHow Divorce Has Shaped The Culture And Affected The Future Of Our Children964 Words   |  4 PagesChamberlain School of Nursingâ€Æ' Divorce How divorce has shaped the culture and affected the future of our children. Divorce has become more acceptable and common in our culture. A divorce not only involves the parents, children are included too. The family structure varies across America and couples divorce for different reasons such as abuse in the home, infidelity, addiction issues, religion, and the list can continue. When a couple decides to use divorce to solve any marital conflicts thereRead MoreAdults and Divorce Essay1163 Words   |  5 Pagesculminate their holy marriage by filing for divorce in the judicial courts. It is shocking to learn that out of a population of 1,000 people, there are 6.4 marriages and 3.4 divorces, which means that 50% of marriages in the United States of America result into a divorce (Centers for Disease Control and Prevention, 2010). There are various causes that make the spouses take the ultimate decision of ending their matrimonial vows through legal divorce. The rate of divorce also d iffers from one state to another

Difference Between Business Marketing And Consumer Marketing

Armstrong, Adam, Denize Kotler (2011) defines marketing as a management process that is responsible to identify and satisfy customer need and wants. Business to business (B2B) and business to customer (B2C), are two key areas of marketing that is often used to distinguish organization in a particular market. Business marketing is defined as the process of purchase a good or a service from a supplier for consumptions, incorporation and reselling purposes (Hutt Speh 2011). Customer marketing can be referred as the process of purchasing goods and service based on individual consumption (Dant Brown 2008). Business and consumer marketing have similar characteristic in terms of the common values and theory. However, they are often differentiated by the function and strategy within their perspective market. Due to the difference between business and consumer markets, various researcher state that different marketing strategies should be used (Dant Brown 2008; Kolis Jirinova 2013). This p aper will examine and analyze the major difference between business marketing and consumer marketing using supportive evidence within fast moving consumer good industry. Fast moving consumer goods (FMCG) are considered to be a multi-million dollar industry that is composed by a huge range of goods from well-established brands (About FMCG 2014). FMCG products are usually goods that are purchases in the everyday life of an individual or household. Furthermore, the prices for these productsShow MoreRelatedThe 7 Key Differences Between Business-to-Business and Consumer Marketing1932 Words   |  8 PagesThe 7 Key Differences Between business-to-business and consumer marketing by Robert W. Bly When asked if he could write an effective direct mail package on a complex electronic control system, a well-known direct response copywriter replied, â€Å"No problem. It doesn’t matter what the product is. You are selling to people. And people are pretty much the same.† He’s wrong. Yes, there are similarities. But there are also differences in selling to business and professionalRead More B2B vs. B2C Marketing Differences Essay809 Words   |  4 Pagesvs. B2C Marketing Differences Once a decision is made to develop a business, whom the customer will be is the next decision to be made. Whom will the company target as a customer? Will it be a business? Or will it be a consumer? Business-to-business (B2B) marketing has differences from business-to-consumer (B2C) marketing practices. This paper will outline these differences between the two types of e-commerce business transactions. Traditional marketing in the business-to-business environmentRead MoreMarketing Differences B2B vs B2C1077 Words   |  5 PagesMarketing Differences Paper: B2b vs. B2c In two distinct e-commerce business types, Business-to-business (B2B) and Business-to-Consumer (B2C), there are many differences in the way they operate. Specifically in marketing, differences include how the marketing is driven and the values of the strategies, the size of the target market and length of the sales cycle, and even the buying patterns of the target consumers. Each of these differences will be better defined and explained in the followingRead MoreDifference Between B2B and B2C1254 Words   |  6 PagesMarketing: Differences Between B2B and B2C Linicha Hunter University of Phoenix EBUS 400 E-Business Dr. Hee Lee September 27, 2006 Marketing: Differences Between B2B and B2C Marketing allows organizations to promote their products or services with the intent of maximizing their profit and gaining consumers confidence. In today s society marketing the correct product/service can be difficult but implementing the marketing process and planning accurately can alleviate potentialRead MoreVarious Global Marketing Environments1194 Words   |  5 PagesVarious Marketing Environments All the factors that are external to the organization form the marketing environment for it. These factors also form the marketing environment when we talk about it in a global context. These factors cannot be controlled, even though the marketers can influence these factors to some extent. Social environment can have a great deal of effect on marketing globally. By the social environment we mean the consumption trends of groups and individuals. The main factorsRead MoreMarketing Strategies For Business Marketing894 Words   |  4 Pagesis done between two or more companies and does not include the final customer of products is considered to be a business-to-business model. (What is business-to-business (B2B)?, 2016) These types of businesses have distinct differences from business-to-customer companies that raise multiple marketing hurdles to jump. Some of these differences include longer sales cycles, more complex products or services, few identifiable buyers, less buyer research, and different channels for marketing strategiesRead MoreStudy Guide for Intro to Marketing1384 Words   |  6 PagesExplain the difference between a market orientation and a product orientation. Illustrate with concepts and examples. 1 Basic Focus The basic focus of a company with a production orientation is toward maximizing production output. Under a production orientation, a company is succeeding when it is manufacturing as many products as possible at the cheapest possible price. In contrast, a company with a marketing orientation is squarely focused on the consumer. Market-oriented companies respondRead MoreB2B Marketing Paper1266 Words   |  6 Pagesas the major differences between business marketing and consumer marketing? Which of these differences do you believe are the most important? Support your position with reference to an example of a company chosen from one of the following industries: Although business markets and consumer markets share common values and theories, they differ in the way that they function in their respective markets. Organisations need to ensure they understand what makes up a consumer and business market as wellRead MoreB2B And B2C Marketing Strategies Essay1379 Words   |  6 PagesMarketing is an integral part of any business operation, regardless of platform or environment (brick and mortar versus virtual); type of product sold or service rendered and target market. 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Feste Analysis in the First and Second Act of Twealth Night Free Essays

Fools in Shakespeare’s plays appear often. In Othello, the Tempest, Macbeth and many others, the buffoon is represented as an eclectic person paid to say the truth in a comic manner through songs and jokes. Even though Feste in Twelth Night does not speak frequently in the first and second acts, he says enough for us to see that he is an observant and clever man. We will write a custom essay sample on Feste Analysis in the First and Second Act of Twealth Night or any similar topic only for you Order Now Firstly, well associated with the spirit of the twelfth night, the night where society reverses roles, Feste reflects joy. His name is a great example of the happiness he expresses. Feste sounds a lot like the French word  «fete », which means party. In every scene he plays in the second act, he starts to sing. He says to Orsino that he takes  «pleasure in singing » which truly proves his delight in what he does. In other words, he is a man that likes his job. But the name Feste associates with the twelfth night in a traditional way too. He is allowed to say whatever he wishes because he is a licensed fool, as we found out when Olivia referred to him as  «an allowed fool ». This freedom of speech fits in well with the reversal of roles involved in the 12th night ritual. When Olivia orders  «take away the fool », he answers  «take away the lady ». This disrespectful answer would have ended the employment of any of the other servants of the lady. But, even considering the fixed hierarchical structure of society at the time, Feste can say whatever he thinks as long as he says it in song or in a comic manner. Moreover, Feste’s job contrasts with his abilities. Since he is a fool, we expect him to be illiterate, certainly not very perspicacious, but on the contrary, he turns out to be the most intelligent character of the play. This is shown by his developed sense of repartee hidden through his role of jester. For example, in the last scene of the first Act, Maria criticizes Feste of having no real bravery, as he pretends to have, compared with soldiers. He answers that everyone should do what he is good at ( «And those that are fools, let them use their talent.  »). This response seems wise and philosophical. But Feste as a fool is obviously someone with a great sense of humor. Over five hundred years, many ideas about life and society have changed and evolved, but humor has remained universal. Feste’s talent and ability is to shield himself with his persona as a fool, but to offer insights and insults of a very wise man. He never behaves badly or in a juvenile way: playing around with food, drinks or other accessories. His only accessory is language. Scene 3 of Act 2, Sir Andrew jokes about Feste because of his status but Feste replies:  «How now, my hearts! Did you never see the picture of â€Å"We Three†?  » implying that Sir Andrew, Sir Toby and himself are fools. This short answer is hilarious because Sir Andrew is wordless but the silky tone emphasize the comic feature of the quote. It seems to me that fools like Feste have two roles in Shakespeare’s plays. First, they provide comic relief to what might otherwise be a heavy, if not depressing story. We look forward to their appearance to give us an uplift from the more serious developments in the plot. Without the fool this story would have had a totally different tone, simply a depressing tragedy. Second, they are the characters with which we, the audience, identify. Yes, we too are really insightful and we too see all the foibles and vices of the characters and we too would express our thoughts and observations through witty banter if we lived in these social circles in these times, or so we like to think. How to cite Feste Analysis in the First and Second Act of Twealth Night, Essay examples

Introduction Some Time In The History Of The Universe, No One Is Quite Essay Example For Students

Introduction Some Time In The History Of The Universe, No One Is Quite Essay IntroductionSome time in the history of the universe, no one is quite surewhen, there was born a man. This man would eventually be the first tofound a monotheistic religion. The name of this man is Zoroaster; thename is actually a corruption of Zarathushtra. Zoroasters birth date,along with whether his religion is actually monotheistic, is a subjectof great debate. The opinions concerning his birth, and consequentlyabout the beginning of this great religion, range from as early as 6000years before Plato to as late as 500 B.C.E. In any case he was bornsomewhere in Iran, although whether in the East or West is alsoarguable. In the early writings the people belonging to this religionare called Zarathustris; the system he taught is called Mazdaism. Thepresent day followers are called Parsees. Zoroaster removed themultiplicity of deities from religion and created a faith in whichthere were two, or perhaps, one God. All other higher beings wereregarded as demons, or evil spirits. No one knows for sure thedifferent stages of popularity that Zoroastrianism experienced. We doknow that at the time of Darius I, 558?-486 B.C. E., it was protected byroyalty. Later, however, Zoroastrians were continually chased by themembers of the Islamic religion through Kathiawar in India, and Surat,and finally they settled again in Bombay. The universe is thebattleground. The opponents are Mazda Ahura, later to be known asAhura Mazda, and Anra Mainyu, later call ed Ahriman. Ahura Mazda isthe good force and the bad is Ahriman. The battle will last till AhuraMazda defeats Ahriman in the year 12,000 (we are now presumably around11,500). This is the world and its future in accordance withZoroastrian beliefs. ZoroasterZoroaster had a very non-conforming mind and was forced to fleehis parents house without his parents consent because of the rebukinghe gave to those who sacrificed cattle or drank intoxicating haoma. Hefled to the mountains and gave himself to God. Sometime between theages of thirty and forty an angel appeared to him and brought him tothe throne of the highest God, Ahura Mazda. After this occurred, theprophet tried for twelve years to convert people, but to no available. During this period many visions were revaled to him. A milestone inthe progression of the religion occurred when Zoroaster convertedVishtaspa,the king of Persia. He also converted the kings son,brother, counsellor, and grand vizier. Zoroaster married, along withtwo other women, the counsellors daughter. Zoroaster was killed atthe age of seventy-seven by Ardshataspa, a neighboring prince, whoinvaded Vishtaspas capital. According to the Parsees, Vishtaspa isthe father of Darius, who reigned from 521-485 B.C.E. Another viewholds that Zoroaster lived 258 years before Alexander the Great; hewould have therefore lived between 570 and 500 B.C.E. The Greeks tendto place him six thousand years before Plato. Ahura Mazda, while notnecessarily discovered by Zoroaster, was found on an inscription datingaround 714 B.C.E. In ancient Persia, before Zoraosters reforms,religion was polytheistic. Zoroaster objected to these dieties andreferred to them as demons. Many of the rituals and Gods that heremoved were later reinstated due to the fact that the people werestill emotionally attached to them. We can see this from the fact thaton the epigraphs of Artaxerxes II Mnemon (404-358 B.C. E.) the Mithrasand Anahita, ancient gods, are mentioned. Temples and images of Godwere also introduced into the religion at a later date.Zoroastrian BeliefsThe Zoroastrian religion is based on the fundamental concept of aconstant battle of good against evil. The good is represented by AhuraMazda while the bad is represented by Ahriman. Ahura Mazda created thisworld as a trap for Ahriman. Human beings draw Ahriman into thisworld; he will jump at any chance to cause others to do evil. He willthen be entering Ahura Mazdas world, and when people choose good overevil voluntarily this will weaken Ahriman to the point where he can bedestroyed. It is hard to reconcile the two opposing views on thedieties in the Zoroastrian religion. The claim is made that thereligion is monotheistic; it is also alleged that the opposing forcesin the world, good and evil, are represented by two equal gods. Modernday Parsees resolve the contradiction by explaining that Ahura Mazdahas always and will always stand above all. Anra Mainyu, or Ahriman,was only created due to an evil thought that once entered Ahura Mazdashead. The real opponent of Ahriman is Spenta Mainyu, the good spirit.The world is divided into three sections. The upper world is bathed inlight, the earth is divided into seven sections, and the underworld isa dark place. The forces of good and evil will do battle for thetwelve thousand years of the worlds total existence. In thebeginning, as Ahriman attempts to kill Ahura Mazda, he is stopped andpulled away. Both of the Gods agree to a period of peace that willlast 9,000 years. During the first three thousand years Ahura Mazdacreates angels, good spirits, and Frava shis. These Fravashis are theoriginal heavenly images of men living in the upper world. During thenext three thousand years the Fravashis come down to earth. There theylead a perfect sinless life. Anra Mainyu is angry because of theadvantage he sees the Ahura Mazda has gained over him in preparationfor the final battle. He tries to bring evil to the world, but he isrendered powerless by the sacred Ahunavairya formula that Ahura Mazdautters. The Giver - Main Character EssayFrom the mid-nineteenth century and on the Parsis prosperedgreatly. This brought about an increase in the amount of literature.The literat ure was written in many languages including Gujarat (one ofthe previous places of residence) and English. These consisted mainlyof the religions beliefs and observances. The Zoroastrian religionmakes an abrupt turn at this point and changes from its previous highlyorthodox religion and writing. The society is hurt and confusedbecause of a sudden plunge into modernity. The society searched fornew ways to explain the older writings. The writing is transformedinto one writing influenced by the beliefs of many of the surroundingreligions including Christianity and Hinduism. Some writings simplytalk of a belief but advocate no actual observance requiring anyactions. Into the twentieth century the writings decrease and show agreater influence by the Muslims.Zoroastrian HistoryFrom around 550-330 B.C. E. the Iranian tribes left the steppeswhere they had been previously living and conquered and moved intomodern-day Iran. The eastern Iranians brought the Zoroastrian faith tothe western Iranians, the Meads, and the Persians. It became thereligion of the Achaemenian empire. The Avestan writings, however,remained in the eastern dialect. Alexander slaughtered many of theZoroastrian priests thereby also harming the transmission of thetexts.The Asacids, from north-east Iran, later established the secondIranian empire. The empire was called the Parthian empire. The fewwritten records they had indicated a tolerance of the Zoroastrianreligion. This empire ruled from approximately 144 B.C.E. through 224C.E. The Sasanian period was from 224 to 651 C.E. By this timeZoroastrianism had returned to many of the things that Zoroaster hadtaken out at the beginning of the religion. They had gone back totheir old ways of sacrificing, drinking haoma, and believing in morethan one God. However, even as the orthodoxy of the religion declined,its popularity increased to the greatest point in its history.After the fall of t his empire Persia was converted to Islam. About fourteen thousand remain in Iran today. The others eitherconverted or moved to India, where different religions were moretolerated. The Zoroastrians there are called Parsees, and most livearound Bombay. They number about 150,000. They have greatlyprospered, and probably owe this to their honesty and generosity. EthicsZoroaster based his concept of good and evil on the things thathappened to be good and bad for the people of his time. Animals whichwere used for cattle bearing were considered good and created by AhuraMazda. On the other hand, animals which were harmful to cattle werecreated by Ahriman. Large families were praised, and any attempt tostop sex from having children was forbidden. The main purpose of man isalways to make good decisions and to fight with Ahura Mazda against theforces of Ahriman. Life after DeathCadavers are unclean and therefore should not be allow ed to touchthe holy fire and earth. The Zoroastrians have devised a way ofdealing with this in which they place the dead bodies on dakhmas, thetowers of silence. Certain people who have received this position byinheritance, as it is unholy, bring the bodies into these towers. Onceplaced on the towers of silence the bodies are devoured by vultures ina matter of hours. Water is then poured over the bones and is run intothe sea. Modern ways of dealing with the dead are by placing them intocement containers or by burning with electricity. Spiritually, after a person dies, his body remains in the area inwhich he died for three days. After this his conscience appears to himin the form of a woman. If the person had a bad conscience the womanis ugly; if he had a good conscience the woman is beautiful. The womanthen takes him over a bridge called the Chinvat Peretu, theaccountants bridge. If the person led a good life he walks over thebridge into paradise; if he led a bad l ife he falls to hell. If theperson is not evil nor good he reaches the intermediate kingdom,Hamestakans, which is between paradise and hell. After the end of theworld is reached, the spirits will be returned to their bodies and itis only then that their final fate will be decided.ConclusionIn conclusion I think that the following observation correctlysummarizes the enduring contributions of Zoroastrianism. It is aninspired ideology which is based upon three beli efs: there is a battlebetween good and evil, there will be an end to the world together witha final divine judgment and the purification of earth, and there is aparadise, a perfect society in heaven. These ideas have had farreaching effects upon other religions and people. Zoroastrianism hasbrought a concept of a sense of the religious meaning of history alongwith a stronger monotheism and ethics. It has removed the religiousidentification with nature and states of consciousness. There are those that believe that the Ancient Hebrews only adoptedthe concepts of a resurrection of the dead, an end to the world, and afinal judgment, once they came into contact with the Zoroastrians. Allof these ideas are presently important to the Jews, Christians, andMuslims. We can all see how far reaching and important the Zoroastrianreligion has been on the evolution of the important religions out ofwhich most modern civilizations have evolved.