The Effects of Scientific Racism on Black Women Essay

The Effects of Scientific Racism on Black Women Scientific racism has been used to oppress, enslave and to justify torture. In my essay I will explore how scientific racism has been used to detriment the health of women of colour. Throughout history women of colour have been experimented upon, sexualized and reproductively abused with scientific racism as justification or the underlying premise for the thought behind this abuse. I will explore this idea using examples throughout various periods of history, as well I will show the contemporary effects. First, I will look at the enslavement of Africans in the New World. During this period women of African descent were raped and abused. They were deemed as sexual beings and†¦show more content†¦These science-based eugenic influences break through the lines of science in to the world of politics, promulgating anti-humanistic views of poor women of colour in the form of legislation fraught with bigotry and baseless generalizations. This political view flows through the judicial system, as courts apply eugenic philosophies in determining who should be sterilized and for what reasons. Black feminists have investigated how rape as a specific form of sexual violence is embedded in a system of interlocking race, gender, and class oppression (Davis 1978, 1981, 1989; Hall 1983). Reproductive rights issues such as access to information on sexuality and birth control, the struggles for abortion rights, and patterns of forced sterilization have also garnered attention Examining the links between sexuality and power in a system of interlocking race, gender, and class oppression should reveal how important controlling Black womens sexuality has been to the effective operation of domination overall. The words of Angela Davis, Audre Lorde, Barbara Smith, and Alice Walker provide a promising foundation for a comprehensive Black feminist analysis. 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The practices that were used gave rise to a deep problem in the African American community that is still prevalent in today’s society. SlaveryRead MoreWelfare Fraud : A Black Woman1289 Words   |  6 Pagestime with the help of the media, the label of the black mother who lives on welfare, yet is able to afford a Cadillac. Her name was Linda Taylor, a Chicagoan who was infamously known to changing her name numerous times, participating in welfare fraud, and ultimately living a well-off life based on her scams. The Chicago Tribune was the first to refer to Taylor as being a â€Å"welfare queen.† Media and politics stereotyped the â€Å"welfare queen† as a black woman who takes advantages of taxpayers and the

Art Appreciation Unit 4 Ip Essay - 1084 Words

From the Baroque Period through the Romantic Age May 20, 2010 Unit 4 Individual Project ART205-1002B-12 American InterContinental University Abstract During this assignment I will talk about three types of Work of Art from three different artists from the Baroque period through the postmodern era. 1). Michelangelo Merisi da Caravaggio; 2) Rembrandt van Rijn; and 3) Peter Paul Rubens, these three artists were known for their religious theme in their art work. The naturalism that was visibly demonstrated in each of the artist work with high contrast of lighting that noticeably appeared in these paintings. Each artist was well known and respected for their work. The three artists Works of Art that I have chosen are:†¦show more content†¦Until the late 19th century many biographers and art scholars deliberately ignored Caravaggio work. Some people felt as if his work was to natural or just ordinary. (Sayre, 2010) His work of art was characterized by displaying weakness or humankind. Sometime people had a difficult time trying to figure out if his painting was religious or not. In fact the contrast in his paintings between light and dark tones was evident in the spiritual content and its representation in the painting. (Sayre, 2010) Caravaggio became ill on a beach in Port Ercole. Caravaggio passed away July 18, 1610 after battling with malaria which he fought to overcome. Rembrandt van Rijn: The Resurrection of Christ c. 1635-39 (Oil on Canvas) Description of Rembrandt Work of Art The Resurrection of Christ is from the Baroque period. This work of art portrays the sense of dramatic antagonism that Caravaggio achieved by manipulating light across full range of tones, changing the intensity and transforming its radiance this was done so that every beam and shadow expressed a dissimilar emotional content. (Sayre, 2010) In Rembrandt painting he focused on using emotional contrast between light and dark tones to emphasize the emotional difference. 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Nuclear Arms Race Free Essays

string(82) " nuclear bomb as the knowledge of splitting the atom was already available to it\." UNIT 9 ARMS RACE AND THE NUCLEAR THREAT Structure Objectives Introduction Background to the Nuclear Arms Race 9. 2. 1 9. We will write a custom essay sample on Nuclear Arms Race or any similar topic only for you Order Now 2. 2 9. 2. 3 The Beginning : Birth of the Nuclear Arms Race The Manhatten Project Rationale for the Arms Race in the Post War Period The Nuclear Arms Race : How it is different from all the Previous Arms Races in History 9. 3. 1 9. 3. 2. 9. 3. 3. The Trinity Test Hiroshima and Nagasaki Bombings ‘New York Times’ and the Trinity Test Different Phases of the Nuclear Arms Race in the Post-War Period 9. 4. 1 9. 4. 2 9. 4. 3 9. 4. 4 9. 4. 5 9. 4. 6 9. 4. 7 9. 4. 8 Fear of the Soviets and Communism 945 to 1953 : Period of US Monopoly 1957 to 1968 : Period of ‘Missile Crisis’ and the ICBM Race 1968 to late 1970s : Period of MIRV and ICBM Race 1981 : Reagan’s Strategic Modernization Plan 1983 : Militarization of Space-Reagan’s Star War Programme 1984-1991 : Nuclear Arms Race in the Gorbachev Era and the last days of collapsing Soviet Union. 1991 to 1997 : Nuclear Arms Race after the Collapse of Soviet Union Nuclear Arms Race in the Third World and Sout h Asia 9. 5. 1 9. 5. 2 95. 3 9. 5. 4 Acquisition of Nuclear Capability by China and start of Arms Race in South Asia India, Pakistan and the Nuclear Arms Race Domino Theory’ in South Asia General Complexion of Arms Race in South Asia Let Us Sum Up Key Words Some Useful Books Answers to Check Your Progress Exercises 9. 0 OBJECTIVES This unit deals with Arms Race and the Nuclear Threat in the present day world. After studying this unit, you will be in a position to: understand the background to the nuclear arms race; explain how the nuclear arms race is different from all the previous arms races; discuss the different phases of the nuclear arms race in the post-war period; and emarnine the nuclear arms race in the Third World and especially in South Asia. . 1 INTRODUCTION This unit on ‘Arms Race and Nuclear Threat’ is part of Block 3 which deals with what is called the ‘Cold War Period’; i. e. , after the Second World War and the emergence of what is t ermed as Superpower Dominance. In Unit ’World War 11: Causes and Consequences (Emergence of Super Powers)’ you have read about how the USA and the USSR emerged as Superpowers in international politics after the end of the Second World War. In Unit 7 : ‘Cold War: Meaning, Patterns and Dimensions’, you have learnt how the collapse of Germany and its allies in 1945 led to the emergence of what has been termed as ‘Cold War’ between the-two main powers of the post-1945 international order * i. e. USA and USSR. The Non-Aligned Movement (NAM) which was dealt with in Unit 8 of this block was a consequence of the cold war power bloc politics. One thing common to the post-1945 international order as well as the pre-1945 world was the arms race. When studying about World War I and 11, you would have surely read about the arms race which was both quantitative and qualitative in character. It would also have been noticed that the arms race in its qualitative dimension in both the world wars was itself one of the greatest causes of the two wars. From the invention of dynamite by Sir Alfred Nobel of the Novel Industries in the First World War period, to the invention of rockets by Germany in the Second World War, it is the search for the ultimate weapon which could win all wars that constituted the greatest push for the arms race. In this madness scientists, nations, people, soldiers, politicians all fell prey and ended up only killing greater and greater number of civilians. In the present unit, we will concentrate on the arms race in the post-1945 international order. As has been stated before, this quest for a qualitatively more destructive weapon was the greatest motivating factor in bringing the world a step closer to war, be it the First or the Second World War. The key difference in the arms race before 1945 (i. e. in the interwar period) and after 1945 was the nuclear dimension. Prior to 1945, all the arms races in human history never confronted what is now popularly known as the ‘Nuclear Threat’. After 1945, the arms race that humanity got engaged in became the greatest living threat to life itself as known on this planet. The difference lies in one single qualitative step in the arms race, and that step was the creation of the Atomic or Nuclear bomb in 1945. Thus, from 1945 the arms race we discuss in this Unit, remained no longer ‘conventional’ but acquired a nuclear character and from then till today, man is engaged in an arms race that puts both parties who engage in it, under a perpetual ‘Nuclear Threat’. 9. B ACKGROUNDTOTHENUCLEARARMSRACE 9. 2. 1 The Beginning : Birth of the Nuclear Arms Race The nuclear arms race between the superpowers began initially in the pre-second world war period between the Germans and the Allied Powers. It was in the context of this conflict prior to the Second World War that in 1938, at the Kaiser William Institute in Germany, Otto Hann and Dr. Fritz Steersman first split the atom. Lise Meitner and Otto Hann later de clared this successful splitting of the atom amounting to a nuclear fission. It was a matter of coincidence that at this juncture in history, the greatest minds working on the ‘atomic problem’ were Jews and that too, German. Hitler’s rapid anti-Semitism during the period sent most of these great minds in Germany rushing to the USA where they were welcomed. These fleeing scientists informed the American military who were closely monitoring events in Europe. There was widespread apprehension that Germany might be the first to produce the nuclear bomb as the knowledge of splitting the atom was already available to it. You read "Nuclear Arms Race" in category "Papers" Albert Einstein too was one of the refugees and he knew fully the significance of this discovery, for it was he who first unlocked the secret power of the atom to the modern world. He warned the President of the United States about it. 9. 2. 2 The Manhatten Project T he Americans under President Roosevelt were fully aware of the international implications and so began the race to build the bomb first. Roosevelt commissioned what was the top secret ‘Man Hatten Project’, the biggest scientific effort ever made costing 2 billion dollars under Maj. Gen. Leslie Groves to construct the atomic bomb in a record time. Robert Oppenheimer, Enrico Fermi, Herbert York, Edward Teller, Hans Beth and a host of other scientific luminaries were involved in the production of the first three nuclear bombs. The interesting aspect of this bomb construction was that though the initial enemy was Germany, slowly the real enemy for whom the bomb was constructed turned out to be the Soviet Union. In fact, Gen. Leslie Groves stated that he had no illusions that Soviets were the real enemy. -This fact is critical to an understanding of the post 1945 world. Arms Race and Nuclear Threat 1 Cold War Period 9. 2. 3 Rationale for the Arms Race in the Post War Period Germany, the first nation with whom the US engaged in the N-Arms race surrendered in May 1945 and all its nuclear facilities were destroyed, thus ending the first phase of an incipient nuclear arms race. Despite this the arms race had to continue once the weapons had been built. A new enemy across the horizon was discovered Communist Soviet Union. The fear of communism was ideologically fueling the furious pace of the A-Bomb construction. In that sense the emerging U. S. ilitary-industrial complex was not wrong. Communist USSR was definitely the biggest power confronting USA and its western allies once Germany collapsed. The world was definitely getting divided into two camps, the capitalist and the socialist and Europe including Germany was its first victims. The Allies could not do anything about it. Something had to be found, a new ultimate weapon which could stop and possibly destroy the march of communism. That something designed initially for fascist Germany and used for experimentation in Japan was to be probably used later against the Socialist Soviet union. This was the underlying ideological war cry in the American establishment and the subtle reason for continuing the arms race into the post-Second World War world era. The discovery of the split atom gave confidence to the United States that it could fight the ‘cold war’ or ‘iron-curtain’ that Winston Churchill said had descended over Europe. It was an indication that the new war after 1945 would be fought against the USSR. Check Your Progress 1 Note : i) Use the space given below for your answers. ii) C heck your answer with the model answers given at the end of the unit. 1) Examine the background to the nuclear arms race. 2) What are the rationale for the arms race in the post-war period? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ s 9. 3 THE NUCLEAR ARMS RACE : HOW IT IS DIFFERENT FROM ALL PREVIOUS ARMS RACES IN HISTORY 9. 3. 1 The ‘Ikinity Test Of the three bombs constructed, the first was tested on July 16, 1945 at Alamagordo, New Mexico. It is known as the Trinity Test. The successful Trinity Test heralded the birth of the Nuclear-Bomb in human history and the dawn of the nuclear age. Neils Bohr, the famous Danish Physicist, prophetically observed the insetting arms race and its qualitative difference. In a letter to Resident Roosevelt on 3 July 1944 he mentioned that a weapon of unparalleled power was being created which would completely change all future conditions of warfare. Some scientists anticipating the arms race between the US and the USSR urged the American Government to share the nuclear secrets with Soviet Union and thus prevent an arms race. However, it is obvious that the scientists were too naive of the game of politics as well as the intensity of international politics. Such advice was never heard, and the race was continued in the hope of victory. To the military desperately looking for a way to deal with the Germans, the Japanese qnd finally the Soviets, the Trinity Test held out hope that they could win. 9. 3. 2 Hiroshima and Nagasaki Bombings Two more historical events, however, finally sealed the destiny of mankind. They were the dropping of the two remaining untested nuclear devices, i. e. , the 5 ton uranium bomb on Hiroshima on August 6 and on Nagasaki on August 8, 1945. Over 250,000 people died in both the cities and the ‘living corpses’ who survived bled incessantly and were blackened with their skins hanging in shreds, their hair scorched to the roots. Most were totally naked, their clothes burnt from their bodies. George Bernard Shaw observed in ‘Man and Superman’ about the art of killing that man, â€Å"out does nature herself †¦ when he goes out to slay, he carries a marvel of mechanism that lets loose at the touch of his finger all the hidden molecular energies and leaves the javelin, the arrow and blow pipe of his fathers far behind†. Hiroshima and Nagasaki exemplified that. . 3. 3 ‘New York Times’ and the ‘Ikinity Test It would be easier to comprehend the qualitative significance of nuclear arms race if we take note of two observations made at the time of the Trinity Test. The ‘New York Times’ reporter who witnessed the test observed â€Å"†¦ a light not of this worl d, the light of many suns in one. It was a surprise such as the world had never seen, a great green super can climbing in a fraction of a second to a height of more than 8,000 ft, rising even higher until it touched the clouds, lighting earth and sky all round with a dazzling {uminosity. Up it went, a great ball ,of fire about a mile in diameter, changing colours, as it kept shooting upward, from deep purple to orange, expanding, growing bigger, rising as it was expanding, an elemental force freed from its bonds after being chained for billions of years. For a fleeting instant the colour was unearthly green, such as one only sees in the corona of the sun during a total eclipse. It was as though one had been privileged to witness the birth of the world to be present at the moment of creation when the Lord said: â€Å"Let There Be Light†. Robert Oppenheimer perhaps summarized in one line the destiny of modern man’s predicament vis-a-vis his own creation, when he quoted the Gita to exclaim â€Å"I have become death, destroyer of worlds†. The roar created by the explosion at Alamagordo could be heard 50 miles afar and the pillar of fire that the New York Times reporter talked about rose 6 miles into the sky. These observations of the Trinity Test and the dropping of the bomb at Hiroshima and Nagasaki sum up why the arms race mankind got caught in after 1945 is totally different in its complexion from all the previous arms races in human history. The sad part, however, for any idealist scholar of international relations is that despite these evidences of destruction, the arms race continued with greater vigour and vengeance. Arms Race and Nuclear Threat Cold War Period Check Your Progress 2 Note : i) Use the space given below for your answers. ii) Check your answer with the model answer given at the end of the unit. 1) What is the Trinity Test? 9. 4 DIFFERENT PHASES OF THE NUCLEAR ARMS RACE IN THE POST-WAR PERIOD 9. 4. 1 Fear of the Soviets and Communism It was the Trinity Test on July 16, 1945 that truly sparked off the nuclear arms race between the US and the Soviet Union. Despite the horror of Hiroshima and Nagasaki the race never stopped. ‘The second fact that fuelled the nuclear arms race was the Soviet Communist enemy. This was, in fact, testified to by Gen. Leslie Groves who said he had no illusions as to whom the bomb was really being built for, i. e. , the Soviets. The ideological, political and military threat to capitalism by rising communism had to be dealt with. The discovery of the nuclear bomb was truly the biggest boost to the arms race. United Kingdom followed US-Soviet acquisition of the bomb in 1952, France in 1960 and China in 1964. The nuclear arms race passed through the following phases, they cannot be clearly distinguished from each other. 9. 4. 2 1945 to 1953: Period of US Monopoly During this period, the United States first enjoyed a total monopoly until 1953 and then, nuclear superiority. In this phase, the US territory was regarded as a sanctuary because the Soviets did not have any reciprocal delivery capability to reach the American targets from USSR. The United States, on the other hand, could attack the Soviet targets from American bases in Western Europe. 9. 4. 3 1957 to 1968 : Period of ‘Missile Crisis’ and the ICBM Race T he monopoly enjoyed the US during the first phase was broken when the Soviets successfully tested the ICBM in 1957 creating what has been called the ‘Missile Crisis’ in America. The advent of ICBMs shifted the focus of the nuclear arms race to strategic weapons; i. e. Inter-Continental Ballistic Missiles (ICBMs), Sea Launched Ballistic Missiles (SLBMs) and strategic or inter-continental bombers which provided the strategic tripod. In 1967, USSR tested what is called a Fractional Orbital Bombardment System. This accelerated the qualitative dimension of the nuclear arms race further into space. 9. 4. 4 1968 to Late 1970’s : Period of MIRV and ICBM Race T he third phase in the nuclear arms race began when the American delivery technology took a gigantic leap by introducitfg what is called the Multiple Independently Targetable Re-entry Vehicle (MIRV) capability in their ICBMs in 1968. This meant that now one single l CBM could carry many small nuclear warhead fitted missiles which on reentering Soviet airspace would go in different directions hitting many targets. MIRV marked a tremendous exponential upgradation of the arms race. This sent shivers down the Soviets who, however, mastered the technology by 1974. During this phase, the Soviets deployed two other weapon systems. First, the Anti-Ballistic Missile (ABM) system in 1968 and second, the first Anti-Satellite (ASAT) missile and warhead, thus ensuring that the arms race went on. Check Your Progress 3 Note : i) Use the space given below for your answers. ii) Check your answer with the model answers given at the end of the unit. 1) Briefly examine the period of US Monopoly in the Arms Race. . 2) Describe the efforts made by the erstwhile Soviet Union to break the US Monopoly in armaments. 9. 4. 5 1981 : Regan’s Strategic Modernization Plan The next major technological tussle took place between the two Superpowers over the MX-Missile. On October 2, 1981 President Regan announced a strategic modernization plan at an estimated cost of $ 160 billion. The weapons systems planned included : (i) Missile Experimental or MX missle : 100 of these were to be built; (ii) B-IB Bombers : 100 of them to be built; (iii) STEALTH Bombers that are radar resistant by 1990s; (iv) TRIDENT-I1 D-5 missiles-one per year between 1983 and 1987; (v) Command Control and Intelligence system (C,I) to be modernized; (vi) NAVSTAR Satellite global positioning system; (vii) Encapsulated dormant missiles; (viii) TERCOM for precision guided cruise missile; an advanced communication system; (ix) Global Positioning System (GPS) for guidance of the ICBMs during the boost phase; (x) Route encrypted comunications to missiles or launchers; (xi) slackwire buoys radio reception by submarines; (xii) Fuel-Cell propulsion. 9. 4. 6 1983: Militarization of Space-Reagan’s Star Wars Programme The militarization of space began from 1958 and since then, over 2219 satellites-military and civilian have been launched by t’he superpowers and other nations, and 75% of the satellites launched have been for surveillance and military use, thus clearly violating the Space Treaty of 1967. On March 23, 1983 President Reagan announced the Strategic Defence Initiative (SDI) popularly called ‘Star Wars’ Programme costing 1 trillion dollars to raise the militarization of space to a qunlitatively rlcr; high. The aim being to build both a ground based and space based Ballistic Missile Defence (BMD) to protect US territory against Soviet strategic missile attacks. Theoretically, the SDI programme, was supposed to be an alternative to the Mutual Assured Destruction or MAD dogma as it would provide Mutual Assured Survival. It was thought the render nuclear weapons obsolete be relying on three new types of nonnuclear weapon systems. These were : Arms Race and Nuclear Threat Cold War Period i) Kinetic Energy Weapons ii) Directed Energy Weapons and iii) Microwave Energy Weapons All these weapons were based on various types of chemicals, electromaphetic forces. and x-rays and lasers. The SDI programme did not take off for many reasons. They being: a) It was too expensive. b) It was not a sure technological venture, in the sense that it was far too complicated and thus not feasible. C) T he Soviets could easily render SDI ineffective by building a counter SDI. ) Reagan never consulted his European NATO allies and infact, surprised them by his announcement thus creating opposition to the programme in Europe. e) Reagan by signing the Intermediate Range Nuclear Forces Treaty (INF) completely ended the political rationale of the SDI programme. f) In the USA itself, in the Congress and the Senate Foreign Relations Committee, both the Republicans and the Democrats were of the opinion that they would not allow SDI to pass at any cost and thus, damage the Anti-Ballistic Missile (ABM) Treaty of 1972. Thus, they rejected SDI as otherwise it would have meant that the ABM Treaty alongwith SALT I and I1 would be nullified. Same would be the fate of START negotiations thus destroying the whole edifice of arms control and the start of an unbridled nuclear arms race. Added to this, many important scientists in USA, important people like James Schlesinger, former Secretary of Defense Mc-George Bundy, cold warriors likc George F. Kennan and Robert McNamara, former Secretary of Defence Harold Brown and a host of other people opposed the very fundamental logic of SDI that it would make the world safe of USA by removing the stability provided by the MAD capability of both the superpowers. Later on, the sweeping changes initiated by Michael Gorbachev within the USSR vide ‘Glassnost’ and ‘Perestroika’ and allowing democracy in Eastern Europe ended the whole logic of SDI. Check Your Progress 4 Note : i) Use the space given below for your answers. ii) Check your answer with the model answers given at the end of the unit. 1) What were the main cornponcnts of US President Ronald Reagan’s Strategic Modernisation Plan? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2 ) What were the reasons for the criticism of Regan’s S DI P r o g r a ~ r i ; ~ , ~ ! 9. 4. 7 1984-1991: N uclear Arms Race in the Gorbachev Era and the Last Days of Collapsing Soviet Union By January 1985, due to the damage already done by SDI of Ronald Reagan, massive rearmament programmes were on the both the sides, and the future direction of the arms race was dependent upon the two superpowers. The arms race was on at three levels of nuclear weaponary, i. e. ,-space weapons, intercontinental weapons, and intermediate nuclear weapons. The US position on militarization of space through SDI really put the arms negotiation in difficult state. The Soviet Foreign Minister Andrei Gromyko said, â€Å"If there were no advancement on the issues of outer space, it would be superfluous to discuss the possibility of reducing strategic armaments. † The US in 1984 had a massive programme for rearmament of many types of weapon systems. The rearmament programme of USA consisted of more Sea Launched Ballistic Missiles (SLBMs); about 800 more nuclear warheads to be fitted on sea and air delivery systems; MX missile testing; Midgetsman Missiles; the eighth Trident submarine fitted with more accurate SLBMs and 100 B -lB bombs. On the Soviet side, in 1984-1985 the rearmament meant rearmament of all Soviet SS-17s SS-18s and SS-19s into the MIRV ed mode, a new TYPHOON class submarine and testing a new type of more accurate SLBM. There was a reported attempt to make 40% of Soviet ICBMs on the movable mode instead of the existing 25% and all 243 Intermediate Range Ballistic Missiles (IRBMs) were to be deployed. All in all, 1984-85 was a period of massive rearmament of all weapon systems. In 1985-86, the picture as regards arms race was the same. There was no restraint. The only hope that some kind of arms control was possible was generated by the November 1985 summit meeting at Geneva between President Reagan and General Secretary Gorbachev where both in a joint statement stated that, â€Å"The sides †¦. have agreed that a nuclear war cannot be won and must never be fought. † They also agreed to hold summit level meetings in 1987 and 1988. These words were an indirect admission by USA that the SDI was not workable. In other words, it recognised as unfeasible that the MAD doctrine could be replaced and a limited nuclear war waged by militarizing space was recognised as unfeasible. Apart from this, there was little progress in the talks on arms reduction in Europe. As regards the nuclear arms race in 1986-87, the situation was still more or less the same except that there was a little movement towards arms control. The US put its first MX ICBM and B-1B bomber on operational position and on a 24 hour alert. Deployment of Pershing I1 missiles and SS-20s continued in Europe. However, certain positive developments took place which definitely halted the arms race in the long run. First, the 27th CPSU Congress in February 1986 decided on Perestroika (Restructuring of Economy), Glasnost ( Openness and Democratization) and reversal of military confi. ontation in Europe and opening up of Eastern Europe. Second, the Raykiajavik summit on 11 and 12 October 1986 declared that a nuclear war could never be won and should never be fougkt. Third, within the USA a tattered Reagan’s economy and the Senate’s opposition to SDI hit US arms race plans. Fourth, there were differences between USA and its NATO Allies who were never consulted on SDI. Thus, though the arms race went on in 1986-87 it was definitely going to end soon. As regards 1987-88, on December 8, 1987 the Intermediate Range Nuclear Forces Treaty (INF) was signed for the elimination of all intermediate and short range missiles. The agreement required the USA and USSR remove 2695 intermediate range GLBMs with a range of 1 000 to 5500 kms. It also envisaged the removal of GLBMs short range i. e. , 5 00 to 1000 kms. USSR agreed to remove 1836 missiles while USA removed 867 missiles. The INF Treaty saved the ABM Treaty from being neutralised by SDI, because with this treaty the rationale for SDI became even weaker and Reagan found it very difficult to push the matter in the Congress as well as with US public. In this sense, it saved the world from another dangerous dimension of arms race i. e. , the space opening UP. 1988-89 was another significant year as it too had something to show in terms of peace. Arms Race and Nuclear Threat Cold War Period 1988-83 can be characterised as the year of settlement of disputes in Afghanistan, Namibia, Iran-Iraq War, Israel-PLO and South Africa. It was also the year Gorbachev announced at the UN, unilateral reduction of Soviet troops and armaments in Europe amounting to 40% reduction of Soviet tank divisions and 50% of Soviet tanks deployed in GDR, Czechoslovakia and Hungary. This was a very significant political and military move as regards the continuation of conventional and nuclear arms race in Europe. 1989-90 can be characterized as the Year of Europe. By the end of 1989, almost all Soviet Allies in Eastern Europe and Central Europe except Rumania and Albania were free. In August 1989, the first non-communist government got elected in Poland. By November 9, 1989, the Berlin Wall had crashed. Elections also took place in Hungary, GDR and Czechoslovakia. On 29 December 1989 Vaclav Havel took over as the President of Czechoslovakia. At the Malta summit in December 1989, President Gorbachev showed readiness to regulate further and move ahead on the START process. Gewge Bush, the US President, hesitated a bit though he committed US towards a Chemical Weapon Ban and the required agreement in the future. 1990 was a year full of events. While Europe and the two superpowers were moving towards peace the Gulf was in flames with the invasion of Kuwait by Iraq on August 2, 1990. Apart from this, in 1990, the WARSAW Pact was dissolved on 3rd March. On June 1, 1990, US and USSR signed a treaty on the destruction of and non-production of chemical weapons and on multilateral measures to ban chemical weapons. It was decided that by 31 December, 1992, all chemical weapons in the world would be destroyed and’ only 5000 tons of agents would be kept. Then, the membership of the Missiles Technology Control Regime (MTCR) expanded. On November 20, 1990 there was the Treaty and a Joint Declaration of Conventional Armed Forces (CFF) forever reducing the nuclear threat in Europe. Check Your Progress 5 Note : i) Use the space given below for your answers. ii) Check your answer with the model answers given at the end of the unit. 1) What were the salient features of the Nuclear Arms Race in the Gorbachev era? 9. 4. 1991 to 97 : Nuclear Arms Race after the Collapse of Soviet Union 1991-92 was a historic year in the sense that due to the collapse of USSR, the enemy that fueled the arms race for US militarists broke up into 14 new states. Yugoslavia also broke up and in one stroke the enemy in so far as the US was concerned was gone and so, the whole political ideologic’al basis of the nuclear arms race. The Iraqi invasion of Kuwait on 2nd August 1990 led to the launch of US and Allied coalition attack under UN auspices against Iraq on 17th January, 1991. It ended on 28th February, 1991 with the complete defeat of Iraq. Arms trade as a result showed a down-ward trend. In 1991 the total value of global arms trade touched $ 22, 114 million. This . was 20% less than in 1990. I In 1992-93 USA, the Russian Federation, France, and Britain all agreed to halt the nuclear arms race totally except vis-a-vis R D. At the regional level, there was further concretization of Europe’s complete demilitarization by the signing of the Helsinkl Document by all Eastern and West European countries. Added to this, there was the world summit on environment at Rio and UN Secretary General’s declaration of the ‘Agenda for Peace’. The peripd between 1993 and 1997 saw two other significant events taking place i n~the nuclear arms race. First, in 1995 the NPT review Conference took place for an indefinite extension of the treaty and on 24th September 1996, the Comprehensive Test Ban Traty (CTBT) was up for signature. US and the other nuclear weapons states and 60 other non-nuclear states signed the CTBT. India did not sign either the NPT or CTBT. The government argued that it did so to keep the nuclear weapons option open. This position taken by India brings us to the question of nuclear arms race in the Third World, dealt with in the following section. .; Check Your Progress 6 L Note : i) Use the space given below for your answer. ii) Check your answer with the model answer given at the end of the unit. I) Examine the nuclear arms race after the collapse of the USSR. 9. 5 NUCLEAR ARMS RACE IN THE THIRD WORLD AND SOUTH ASIA r r T he nuclear arms race that went on in the First World throughout the Cold War definitely had its impact on the Third World. The quest of the German Bomb fueled the American ‘Manhattan Project’ initially, and as the Second World War came to a close it was the Soviet ideological and military power manifest in the occupation of Eastern Europe that really put Americans firmly on the track of nuclear bomb making. However, at that time the Allies needed the Soviet Communists to destroy fascist Germany, Italy and Japan. Stalin’s intelligence agencies were well aware of the secret American nuclear programme and at Postdam, his suspicions were confirmed when President Roosevelt informed Stalin of a secret weapon. This knowledge fueled the Soviet desire to build the bomb at a feverish pace to counter the threat form c aptalist west. The bombing on Hiroshima and Nagasaki, though not really necessary were also a veiled threat to Soviets of the American resolve. These events in a way led to the nuclear arms race. After 1949, when Communist China emerged under Mao, it is believed that the Chinese through Soviet help (prior to Sino-Soviet split) too got the nuclear capability and tested in 1964. China was considered a Third World state and one can see how the ideological and political nature of nations deeply affected their decision to develop a nuclear capability. Arms Race and Nuclear Threat Cold War Period 9. 5. 1 Acquisition of Nuclear Capability by China and start of Arms Race in South Asia Thus, the acquisition of nuclear capability of China in 1964 signalled the beginning of a nuclear arms race in South Asia. The Indo-Pak conflict was not actually the factor responsible for India’s quest for nuclear capability as many scholars claims, though it came in much later. The Kashmir conflict and partition and the three subsequent wars in 1948, 1965 and 1971 did fuel the conventional arms race. 9. 5. 2 India, Pakistan and the Nuclear Arms Race The nuclew arms race in South Asia however was not of India’s making. It rather came after the massive defeat India suffered at Chinese hands in 1962, which hit our whole defense and foreign policy. This followed by the news of Chinese exploding the nuclear device in 1964 shook the Indian political and military establishment and they decided to develop India’s nuclear capability. The decision was also influenced, perhaps, by the Chinese collusion with Pakistan in the 1950s prior to the 1962 war. It brought home to the Indian strategists the real possibility of Chinese and Pakistanis joining hands against India. After 1962, there was thus no looking back and the nuclear arms race reached South Asia. When India conducted the Peaceful Nuclear Explosion (PNE) in 1974, the Pakistanis too decided to go for a nuclear programme. The onset of the Second Cold War with the Soviet invasion in Afghanistan 1979 put Pakistan on the high priority zone of US in its fight against communism. It signalled deeper military cooperation and aid to Pakistan and some say, the beginning of some help even in fledgling Pakistan nuclear weapons programme. As of now, the South Asian region, is definitely a zone of nuclear competition with India consciously ‘keeping its option open’ and not exercising its capability. This is expressed in its refusal to sign both the Nuclear Proliferation Treaty in the 1995 Review Conference ahd the Comprehensive Test Ban Treaty (CTBT) on 24th September, 1996. . 5. 3 ‘Domino Theory’ in South Asia The South Asian case amply demonstrates the ‘Domino Theory’ which fuels nuclear arms race or any arms race. First, it was the German threat to Europe which made the US go for the bomb. Then, the Soviet threat made US go in for the bomb again. The bombings in Hiroshima and Nagasaki led Soviets to acquiring the bomb. The common threat to world communism led to Soviets helping the new communist state of China in 1949 with nuclear technology which helped China to conduct a nuclear test in 1964. The Soviets, however, had refused to give nuclear weapon design to China, which became the cause of Sino-Soviet rift. The Indian defeat in 1962 and Pakistan’s collusion with the Chines led the Indians to develop the nuclear capability by 1974. The Indian explosion coupled with successive defeats in wars with India led the Pakistanis onto the bomb. The cases of other third world countries acquiring the bomb in similar; e. g. the Iraqi and Iranian nuclear programmes. The South African case too is due to perceived survival threats. The other nuclear capable states are Argentina and Brazil-two major States in, Latin America. 9. 5. 4 General Complexion of Arms Race in South Asia Overall one can say that the third world nuclear arms race is definitely a product of the nuclear arms race in the first world and the many conflicts within the Third World sustain it. The cold war military alliance system helped this process. Now, after the collapse of s oviet Union and the massive reduction prior to it and after it in Western nuclear arsenals, nuclear peace has been brought to the world in the sense that we aren’t always ‘living on the edge’ of a nuclear holocaust. However, the non-resolution of conflicts in the Third World, e. g. Indo-Pak conflicts, Arab-Israeli conflict is a definite reason for the continuance of nuclear arms race in the Third World. – — – Check Your Progress 7 Note : i) F t Use the space given below for your answers. ii) Check your answer with the model answers given at the end of the w it. ) What are the factor propelling the arms race in South Asia? 2 ) Briefly comment on India’s stand on the nuclear proliferation issue. 9. 6 LET US SUM UP We can conclude this unit by recalling a few pertinent points. Thus: i) The discovery of the. power of the ‘atom’ in both its c reative and destructive senses was possibly the greatest event in 20th century history. The creation and blasting of the nuclear bomb by the US demonstrated its power with telling effect. ii) The ideological conflict between capitalist West and socialist East was the single biggest factor instigating the nuclear arm race until the collapse of one side i. e. , of the USSR in 1991. iii) However, despite the demise of Socialist Soviet Union nuclear weapons still remain the basis for military power and their quest continues by many third world countries e. g. India, Pakistan, South Africa, Israel, Iran, Iraq and North Korea. iv) The nuclear threat to humanity remains even today and there is very little hope of complete disarmament. The only possible way is probably to reduce the number of warheads and number of nations acquiring this technology for settling their disputes. KEY WORDS ABM-Anti-Ballistic Missile System : It is a weapon system designed to defend against a ballistic attack by intercepting and destroying ballistic missiles and their warheads in flight. Arms Race and Nuclear Threat Cold War Period BMD-Ballistic Missile Defense : Systems capable of intercepting and destroying nuclear weapons in flight for defense against a ballistic Missile attack. CFE T naty : The h a t y o n Conventional Armed Forces in Europe : Negotiated in the Conference on Security and Cooperation in Europe (CSCE), a process which began in 1973 and was signed in 1990 by NATO and WTO countries and came into force on 9 November, 1992. NATO-North Atlantic h a t y Organisation : Created by the US and its allies in Western Europe after the Second World War to counter USSR. WTO-Warsaw %sty Organisation: Created by Soviet Union in 1955 to counter NATO military alliance. Dissolved in 199 1. ICBM-Inter Continental Ballistic Missile: Ground launched Ballistic Missile capable fo delivering a warhead to a target at ranges in excess of 5500 km. INF-Intermediate Range Nuclear forces: are nuclear forces with a range oflfrom 1000 km. upto and including 5500 kms. MIRV-Multiple Independently Targetable Re-entry Vehicles: Re-entry vehicles, carried by a nuclear ballistic missile, which can be directed to separate targets along separte trajectories (as distinct from MRVs). A missile can carry two or more RVs. MRV-Multiple Re-entry Vehicles: Re-entry vehicle, carried by a nuclear missile, directed to the same target as the missile’s other RVs. MAD-Mutual Assured Destruction: Concept of reciprocal deterrence which rests on the ability of the nuclear weapon powers to inflict intolerable damage on one another after receiving a nuclear attack. Open Skies h a t y – A Treaty signed by 25 CSCE states in 1992, permitting flights by unarmed military or civilian surveillance aircraft over the territory of the signatory states, in the area from Vancouver to Vladivostock. SLBM–Submarine Launched Ballistic Missile: A ballistic Missile launched from a submarine, usually with a range in excess of 5500 kms. START I TREATY : Strategic Arms Reduction lkeaty : Between USA and USSR to reduce strategic nuclear weapons. Strategic Nuclear Weapons : ICBMs, SLBMs and bomber aircraft carrying nuclear weapons of inter-continental range of usually over 5500 kms. Doctriae of Deterrence : It theorically means that the most appropriate way to prevent your enemy employ atomic weapons against you is to put a counter threat by also possessing the atomic bomb. Doctrine of Massive Retaliation: Was a strategy of employing nuclear weapons and outlined by US Secretary of State John Foster Dulles after President Eisenhower took over from President Truman in 1954. The massive retaliation doctrine was founded on responding to any communist inspired aggression, however marginal the confrontation, by means of a massive nuclear strike against major centres in the Soviet Union and China. Doctrine of Limited War : Was propounded by Captain Basil Liddel Hart in the late 1940s. He argued in his book ‘the Revolution in Warfare’ in 1946 that â€Å"When both sides possess atomic power ‘total warfare’ makes nonsense†¦ Any unlimited war waged with atomic power would be worse than non-sense, it would be mutually suicidal†. He argued that war should, therefore, be a controlled affair and without barbarous excess. However, many US strategies criticized his concept of limited war as practically impossible. Doctrine of Flexible Response : Adapted by NATO in 1967 and based on a flexible and balanced range of appropriate responses, conventional and nuclear, to all levels of aggression or threats. These responses, subject to appropriate political control, are Arms Race and Nuclear Threat designed first to deter aggression and thus preserve peace; but, should aggression unhappily occur, to maintain the security of NATO area within the concept of forward defense. 9. 8 SOME USEFUL BOOKS Lawrence Freedman: The Evolution of Nuclear Strategy. P:M. S. Blackett: Atomic Weapons and East West Relations. Hedly Bull : The Control of the Arms Race. Morton Halperin : Limited War in the Nuclear Age. Freed Ikle : Can Nuclear Deterrence last out the country? Robert Jervis : Perceptions and Misperceptions i n International Politics. Herman Kahn : O n Escalation : Metaphors and Scenarios. Henry Kissinger : Nuclear Weapons and Foreign Policy. Thomas Shelling : Arms and Influence. — – – – – 9. 9 ANSWERS TO CHECK YOUR PROGRESS EXERCISES Check Your Progress 1 1) See Section 9. 2 2) See Section 9. 2 and sub-section 9. 2. 3 Check Your Progress 2 1) S eeSection9. 3 Check Your Progress 3 1) See Section 9. 4 and sub-sections 9. 4. 1 to 9. 4. 4 2) See Section 9. 4 and sub-section 9. 4. 3 Check Your Progress 4 1) See sub-sections 9. 4. 5 and 9. 4. 6 2) See sub-section 9. 4. 6 Check Your Progress 5 1) See sub-section 9. 4. 7 Check Your Progress 6 1) See sub-section 9. 4. 8 Check Your Progress 7 1) See Section 9. 5 2) See Section 9. 5 and sub-section 9. 5. 2 – – How to cite Nuclear Arms Race, Papers

Financial Cycle and Macroeconomics Method

Question: Discussn about the Financial Cycle and Macroeconomics Method. Answer: Introduction: Real GDP represents a macroeconomic measurement tools that help to reflect the value of all products and services manufactured in a particular economy in a specific year. Real GDP also regarded as the inflation adjusted measurement tools that can indicate standard of living of the economy. However, Gordon (2014) have highlighted the fact that several factors can mislead calculation of real GDP regarding the standard of living. For instance, real GDP does not include contribution of the homeowners in the production activity. Thus, the entire production done in the households does not count in the real GDP section, which can mislead the entire production done in the entire economy largely. Furthermore, real GDP ignore the entire underground economy or illegal production activity happens in a particular country. As per the article by Taati et al. (2015), underground economy plays a major role in the overall production activities in different countries. Thus, it reflects a serious measur ement issue regarding the accumulation of the overall production activities. Furthermore, real GDP also does not focus on measurement of life expectancy and people health, which also can create major impact on the standard of living perspective. Moreover, real GDP also does not include the value of leisure time, which also can create positive impact on the economic welfare. It also excluded expenses of environment condition for the production activity. For that reason, Eastern European economies under communism wrongly appear to provide higher economic welfare than a similar economy. In addition, real GDP also does not indicate the amount of social justice and political freedom enjoyed by the citizens of a specific economy. For that reason, real GDP is regarded as unreliable indicator in evaluating standard of living. Unemployment represents a phenomenon that transpire when an individual who is searching job actively and does not able to find a job. Unemployment often utilize as a tool that evaluates health of the economy. As per the article by Hall (2016), unemployment can be categorized into different parts including frictional, structural, cyclical and natural unemployment. Now, frictional unemployment primarily arises from labour market turnover. On the other hand, structural unemployment causes when technological evaluation or increase level of foreign competition induces business firms to focus on people with different level of skills and knowledge. As a result, it enforces many people to face unemployment challenges. Now, in the present competitive business environment, every organization has to focus on the utilization of several innovative technologies to achieve sustainable growth in the market. For that reason, structural unemployment can be considered as unavoidable in the present mark et situation. On the other hand, Georgellis (2015) several people are also looks for achieving better alternative opportunities in the market to enhance their quality of standard of living. Therefore, it is also obvious that those people will face unemployment for specific time period during the transition. Moreover, unemployment also heavily depends on the lag between potential GDP and real GDP. As it helps to indicate the fact that majority of the economy does not perform at their full potential, which will make unemployment unavoidable in certain situation. Almost all the economists have come to a unanimity that increases in average price level of the products and services will create inflation in the market. It established the fact that anything that increases the price level of the economy will eventually influence the inflation rate to grow higher. Thus, an increase in economic activity or decrease in unemployment can act as a major inflationary trigger. In addition, worker wages, commodity prices are also can be considered as a prime trigger that can have major impact on the market inflation. However, Gal (2015) have mentioned that the increase in average price level is not the only factor that can have impact on the inflation perspective. For instance, speculating buying and real income of the individuals can also have major impact on the market inflation perspective. Many studies have consciously focused on mentioning the impact of price level on the inflation but have not used the term money. Because there is no good statistical correlation between changes in various price index and changes in money (Svensson 2015). It has been assessed that decrease in the value level of the money will induce people to spend more on the products and services. Thus, it will also create inflationary effect in the market. On the other hand, increase in the average price level of the products and services will induce people to spend more in the market. Thus, it can be mentioned that average price level can create inflationary impact on the market. In macroeconomics, aggregate demand (AD) represents the total amount of final demand for goods and services in a particular economy. In fact, AD highlights the amount of products or services will be purchased at all possible price level (Rao 2016). Now, the above figure highlights the fact that AD curve is slopped downward, which highlights the fact that price level and quality level of the products are inversely correlated. As price level decreases, it creates positive impact on national income. As per the article by Abe, Inakura and Tonogi (2016), any decrease in the price level enhances the value of the money in the market, which eventually increases the quantity demanded in a major way. Furthermore, many studies have highlighted three reasons including Keynes's interest-rate effect, Pigou's wealth effect and Mundell-Fleming's exchange-rate effect that enforces the AD curve remains downward. Pigou's wealth effect has mentioned that real value of the money entirely depends on price level. Thus, if price level increases, real value of the money falls that reduce the quantity demanded. Conversely, Keynes's interest-rate effect has mentioned that higher prices consumes majority of the available currency. As a result, people possess lesser amount of currency to purchase products, which eventually reduces quantity demanded. Lastly, Mundell-Fleming's exchange rate indicates the fact that interest rate also fall with the fall in the price level. Now, as interest becomes lower in the domestic economy, foreign investors focuses on the economy to produce more at cheaper prices (Goyal and Tripathi 2015). As a result, it also increases the quantity demanded in the market. Thus, all three factors have highlighted negative relationship between the quantities demanded and price level, which enforces the AD curve to remain downward. Long-run aggregate supply curve reflects the fact that any changes in the aggregate demand curve only causes temporary changes in the total output of an economy. As per the article by Mankiw (2014) labour, capital and technology are the only factors that can have impact on the aggregate supply curve. Thus, supply volume in long-run can only be increased if size of workforce, capital stock or education level of the community increases. Now, increase of any of these factors with the given price level will increase the productivity of a particular economy. Thus, changes in price level will not have any impact on the LRAS curve. It will make LRAS curve to become vertical in long-run. However, Short-run Aggregate Supply Curve (SRAS) have to deal with fixed amount of capital, as new factory or capital cannot be developed in short span of time. In short-run, organizations have to focus on more utilization of the workforce to increase the present level of supply volume (Benassy 2014). Furthermore, in short-run any increase the in price level of goods encourages the organizations to focus on producing more. Thus, it reflects a positive correlation between the price level and quantity supplied, which enforces the SRAS curve to slope upward. References: Abe, N., Inakura, N. and Tonogi, A., 2016. Estimation of Aggregate Demand and Supply Shocks Using Commodity Transaction Data. Research Institute of Economy, Trade and Industry (RIETI). Benassy, J.P., 2014. Macroeconomics: an introduction to the non-Walrasian approach. Academic Press. Bernanke, B., Antonovics, K. and Frank, R., 2015. Principles of macroeconomics. McGraw-Hill Higher Education. Borio, C., 2014. The financial cycle and macroeconomics: What have we learnt?. Journal of Banking Finance, 45, pp.182-198. Gal, J., 2015. Monetary policy, inflation, and the business cycle: an introduction to the new Keynesian framework and its applications. Princeton University Press. Georgellis, Y., 2015, January. Regional unemployment and employee organizational commitment. In Academy of Management Proceedings (Vol. 2015, No. 1, p. 12430). Academy of Management. Gordon, R.J., 2014.A New Method of Estimating Potential Real GDP Growth: Implications for the Labor Market and the Debt/GDP Ratio(No. w20423). National Bureau of Economic Research. Goyal, A. and Tripathi, S., 2015. Separating shocks from cyclicality in Indian aggregate supply. Journal of Asian Economics, 38, pp.93-103. Hall, R.E., 2016. Why Has the Unemployment Rate Fared Better than GDP Growth?. Mankiw, N.G., 2014. Principles of macroeconomics. Cengage Learning. Michaillat, P. and Saez, E., 2013. A model of aggregate demand and unemployment. Rao, B.B. ed., 2016. Aggregate demand and supply: a critique of orthodox macroeconomic modelling. Springer. Svensson, L.E., 2015. The possible unemployment cost of average inflation below a credible target. American Economic Journal: Macroeconomics, 7(1), pp.258-296. Taati, S., Hakimipour, N., Alipour, M.S., Saberi, R. and Faramarzi, A., 2015. Analysis of Conditional Asymmetric Volatility of Real GDP and Main Economic Sectors Growth Rates in Iran.International Journal of Research and Reviews in Applied Sciences,23(1), p.1.a

Policy Network Models

18 ACT Tips and Tricks to Improve Your Score

18 ACT Tips and Tricks to Improve Your Score SAT / ACT Prep Online Guides and Tips Looking for some quick fixes to improve your ACT scores? Look no further. In this article, we give you severaltips and tricks for the ACT so that you can get your best possible scores on every section. First, I'll go through specific tips for each of the five sections (English, Math, Reading, Science, and Writing). Then, I'll provide you with overall tips you can use throughout the test.Note that these are all last-minute test-taking advice tidbits rather than in-depth study hacks. Therefore,it's best to view them as light icing on top of a delicious cake representing the ACT expertise you've developed over a longer period of time. ACT English Tips The first section you'll take on the ACT is the English section, which focuses on your knowledge of grammar as well as your editing skills. #1: Choose the Most Concise Answer ACT English questions look for answers that result in the most straightforward, logical sentence structure, so try to find the choice that provides all of the necessary information for the sentence to make grammatical sense- and nothing extra. The best writing says what it needs to say clearly and concisely! #2: Read the Paragraph First A good plan of attack for ACT English is to read the whole paragraph that has the sentence you must revise before you look at the answer choices.This will give you context for your choices and a better grasp on the structure of the sentence and how you might need to change it.With this strategy, you can reduce the number of errors you make caused by careless misreadings. #3: Be Careful With "No Change" Answers On ACT English questions that ask you to choose the answer that makes a sentence grammatically correct, you'll have the option to pick "No Change." This is a dangerous choice because if you aren’t aware of more obscure grammar rules, you might be tempted to choose it on some questions for which the sentence actually can be improved. Thus, it’s really important to double-check all other answers before settling on "No Change" as the correct choice. That said, keep in mind that "No Change" really is the correct answer around25-30% of the time it's an option, so don't second-guess yourself if you're relatively certain there isn't an error. Read the sentence through with each of the possible suggested changes before you bubble in â€Å"No Change† to ensure that you’re ultimately making the right call. ACT Math Tips Up next is the ACT Math section. Here, we give you two key tips you'll need to know in order to get a high Math score on test day. #4: Pay Attention to Diagrams The ACT Math section will often provide you with diagrams of figures that describe the problem you’re trying to answer.It’s important to pay attention to these figures, asthey will give you clues about which answer choices are the most logical. If a problem asks you to figure out an angle, for example, and some of the choices are acute while others are obtuse, you’ll be able to eliminate at least a couple of these answers just by looking at the diagram.If it doesn’t seem like an answer is possible based on the visual aid alone, it’s usually safe to cross it out. #5: Plug In Answers and Numbers Two of the most important strategies to help you confirm you've got the correct answer on a math problem are to plug in answersand plug in numbers. Here's how to plug in answers: if a question asks you to solve for x,simplyplug each answer choice back into the original equation and see which one works. This will tell you which answer choice is the correct one. You don’t even need to really solve the problem! Plugging in numbers is a little different. With this strategy, you'll choose random numbers to plug into algebraic variables. This strategy lets you analyze the problem using real numbers instead of unknowns, and works best for questions with multiple variables. While helpful, these strategies can sometimes be more time consuming than just solving the equation directly, so only use them as a last resort if you're stumped. All you gotta do is find the right answer cord. ACT Reading Tips With ACT Reading- the third section on the test- you'll need to know how to read and interpret passages both quickly and accurately. #6: Start With Your Strengths The ACT Reading section is always structured the same way with four topic areas in the same order. Each topic corresponds to a passage or pair of passages.These topics are as follows: Prose fiction/literary narrative Social science Humanities Natural science To make sure you’re getting the most out of this section, start by reading the passage(s) that correspond to the topic area in which you are most comfortable.This might simply mean starting with subject matter that is most interesting to you and will thus make for a quicker read. This way, you can get the questions that are easiest for you out of the way first and won’t risk running out of time before you have a chance to answer others. #7: Skim Passages There’s a lot of time pressure on the ACT Reading section, so try to read the passages as efficiently as possible.For some students, it might be manageable to read passages normally and still have enough time to finish the section, but you have to be a really quick and thorough reader in order to pull this off. The best strategy for most people is to skim the passages instead.In order to skim effectively,read the introduction and conclusion paragraphs as well as the first and last sentences of every body paragraph.This will give you a good overview of the main ideas and allow you to answer most main point questions.When you get to questions about details, you can then reread specific parts of the passage if necessary. ACT Science Tips For the Science section, you'll need to know how to interpret data and must answer questions dealing with graphs, tables, and scientific experiments. Here are our two best tips. #8: Do the Conflicting Viewpoints Section Last Theconflicting viewpoints section on ACT Science is usually the most time consuming for students. In case you’re not familiar with it, this part of the section asks you to read two or three passages that detail different viewpoints on a scientific issue.You'll then answer questions about these viewpoints and how they relate to one another. Since this is more reading-intensive and can eat up a lot of time, it’s best to save this part for last so that you don’t end up missing other questions later on in the section that will be quicker and easier for you to answer. #9: Rely On Visuals The ACT Science section hits you with a lot of complicated terminology and unfamiliar facts that make it seem overwhelming.The best policy when faced with all of this information is to ignore it and go straight for the graphs, which should provide enough information for you to answer the majority of the questions you’re faced with. Most of the information you’re given is just extra stuff thrown in there to make this section seem more difficult than it really is. In reality,ACT Science is more about logical reasoning and data interpretation than it is about actually knowing any science. As long as you can read the graphs, you'll be fine! If you can't read this graph, drink more coffee. ACT Essay Tips The ACT Writing section, or Essay, is an optional section and the last one you'll take (if you signed up to take it). Below, we give you two expert tips to help you get the Essay score you deserve. #10: Pres Since ACT Essay prompts are relatively predictable, you can do some of your own essay planning before the test to save yourself time and stress.Choose concrete examples from art, history, literature, and/or personal experience; try not to use hypothetical or vague examples to support your points. Keep in mind that all of the facts you use in your essay don’t necessarily have to be true. Graders don’t have time to fact-check, so they'll take everything you write at face value. This means you can make up statistics or historical facts to support your thesis, and you won't be penalized! #: Write a Great Intro and Conclusion It’s likely that the essay graders will read your introduction and conclusion more closely than they will the rest of your essay. If they can find your thesis easily, you're already on the right track to earning a great Essay score.As long as you have body paragraphs that make sense and support the points outlined in your thesis, graders will likely give you at least a 4 in the Organization and Ideas and Analysis domains. You'll also need to write a conclusion paragraph thatrestates your thesis andshows a strong understanding of how all your points relate to one another. If you can demonstrate basic knowledge of how to logically structure an essay and stay on topic, you'll be good to go. Overall ACT Tips Now, let's wrap up with some general ACT tips to help you feel more confident for test day. #12: Skip Hard Questions On the ACT, time pressure is a very real problem for many students. To avoid losing points, you need to learn to skip questions that are giving you trouble before they eat up too much of your time.â€Å"Too much of your time† means something different for each section: English: more than 30 seconds per question Math: more than 60 seconds per question Reading: more than 45 seconds per question Science: more than 45 seconds per question As a rule of thumb, if you feel like you’re not any closer to figuring out a question after about 30 seconds, move on.Circle that question so that it’s easier to spot later on when you want to go back to it. Then, make a quick pass through the whole section and answer all of the easy questions first so you don’t miss points by running out of time before you're able to get through everything. #13: Use the Process of Elimination For every section of the ACT, use the process of elimination as your main strategy for attacking tough or confusing questions.This ties into the fundamental rule of ACT reading, which says that for every question there is only one completely correct answer- the rest can be eliminated based on evidence in the passage. The process of elimination is more foolproof than trying to pick out the correct answer from the pack. Look for reasons to get rid of choices rather than reasons why they might work. This will help you be more picky about which answer you bubble in, and will also prevent you from thinking that more than one answer might be correct.If there’s even one tiny thing out of place in an answer choice, get rid of it! #14: Bubble at the End You can save time on the ACT bywaiting until the end of a section to bubble in your answers. This cuts down on your time per question by letting you avoid the process of going back and forth between your test booklet and answer sheet.It’s more efficient to circle the answers you choose in your test booklet and then fill them in all at once later. Before using this tip, though,make sure you can reliably finish the section with at least three to five minutes to spare!Don't risk running into a situation in which you don’t have enough time to bubble in your answers even though you’ve gone through all of the questions. Just as you are legally obligated to pop all of the bubbles in a sheet of bubble wrap, so too must you fill in all bubbles on the ACT. #15: Answer Every Question Since there isno penalty for guessingon the ACT, make sure youfill ineverybubble!An incorrect answer and an unanswered question both have the same impact on your raw score, so even if you have no idea how to answer something, it's best to go ahead and guess anyway. #16: Get a Good Night's Sleep the Day Before the Test It might sound cheesy, but you'll feel a lot more prepared (and awake) on test day if you get a solid amount of shuteye the night before the test. How many hours you need to feel well rested varies depending on the person, but generally it's good to aim for at least eight hours of sleep. Heading into test day feeling sleepy and exhausted can dramatically affect your ability to focus and potentially lower your score. So get to bed early! #17: Eat a Hearty Breakfast In addition to the tip above, it's equally important to eat a healthy, satisfying breakfast before you take the ACT. This way you'll feel more awake and energized before taking the test. What's more, you won't have to worry about a growling stomach later on! #18: Stay Calm The most important thing to remember during the ACT is to keep a cool head.Especially given the time pressure, students who suffer from test anxiety often freak out if they have to skip a few questions.Don’t let this happen to you! Keep moving forward and answer what you can.You might find questions that initially seemed impossible are much easier when you come back to them. The nice thing about the ACT is that once you get through a section, you’re completely done with that subject. So you won’t have to worry about it until the next time you take the test (if that time even comes!). Review: 18 Tips for Improving Your ACT Score You can quickly improve your section scores on the ACT if you remember to use these 18 tips before and during the test. Let's recap: ACT English Tips Choose the Most Concise Answer Read the Whole Paragraph First Be Careful With "No Change" Answers ACT Math Tips Pay Attention to Diagrams Plug In Answers and Numbers ACT Reading Tips Start With Your Strengths Skim Passages ACT Science Tips Do the Conflicting Viewpoints Section Last Rely On Visuals ACT Essay Tips Pres Write a Great Intro and Conclusion Overall ACT Tips Skip Hard Questions Use the Process of Elimination Bubble at the End Answer Every Question Get a Good Night's Sleep the Day Before the Test Eat a Hearty Breakfast Stay Calm Remember, these are quick fixes that aren’t substitutes for studying content and gaining a deeper understanding of your mistakes.You should read some of our other articles, like this one on how to get a 36 on the ACT, to supplement your use of these tips and tricks! What's Next? If you're looking to do some more hardcore studying, take a look at this list of the top 10 books you should be using for ACT prepand this list of the best websites for ACT prep. Are you taking the ACT soon and need some advice on last-minute strategies you can use? Here are the bestguides to read for last-minute ACT prep. Haven't scheduled your test date yet? Find out the best ACT date for you! Want to improve your ACT score by 4 points? Check out our best-in-class online ACT prep classes. We guarantee your money back if you don't improve your ACT score by 4 points or more. Our classes are entirely online, and they're taught by ACT experts. If you liked this article, you'll love our classes. Along with expert-led classes, you'll get personalized homework with thousands of practice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step, custom program to follow so you'll never be confused about what to study next. 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Law essaies Essay Example | Topics and Well Written Essays - 6250 words

Law essaies - Essay Example Wales Ltd enters an appearance and raises the defence of â€Å"force majeure.† Does its appearance confer jurisdiction to the courts of Athens? (5) Black Horse Traders Ltd obtained a judgement against Wales Ltd in Portugal and enforced the judgment in England. The judgment was, however, rendered in default of appearance of Wales Ltd. Advise Wales Ltd. 1. In addition to determining the competent court hearing lawsuit, we have to know which, if any, international jurisdiction entitlements shall apply. Based on the facts of the case the Brussels I Regulation is certainly applicable. The reason being that The Brussels I Regulation concerns commercial matters 1(contract of sales of goods) and also contains an International element since the case concerns purchase and transport within different states of the United Kingdom, Greece, Italy and Portugal, and all states are member states in Brussels I Regulation2. The United Kingdom is where Wales, Ltd. is registered as well as Black Horse Traders, Ltd. Wales. Ltd lists Greece as their principal place of business and Italy is where their central administration office is located and finally Portugal is where the goods had been delivered3. Under Article 2.1 â€Å"Subject to this Regulation, persons domiciled in a Member State shall, whatever their nationality, be sued in the courts of that Member State.†4 This article relates to the particular the individual person and infers that any person can sue if the defendant may be domiciled in a member state in Brussels I Regulation. This was clear in Grupo Torras SA and Torras SA and Torras Hostench London Ltd5. However, in Article 60.1 â€Å"for the purposes of this Regulation, a company or other legal person or association of natural or legal persons is domiciled at the place where it has its: And further, 60.2 â€Å" for the purposes of the United Kingdom and Ireland ‘statutory seat’ means the registered office or, where there is no

Casino questoin Term Paper Example | Topics and Well Written Essays - 250 words

Casino questoin - Term Paper Example The casino is operational in 24 hours per day and provides relaxed house rules to meet the competing needs of clients (Morse & Goss 49). It has amazing bonuses and rewards, good online casino security features and excellent customer services. The business operates around its main core values, which include accountability, respect, integrity, honesty and citizenship. The core values guide the direction, and services offered in the business. In this perspective, the core values extend beyond the business practices and incorporate every team member since they are an integral part in the business. The casino employs skilled workers with the similar values and objectives as of the business. The advent of casinos on tribal land has improved employment and social amenities such as hospitals and clinic facilities and schools. Gambling provides individuals and the community with economic resources, which allows them to make investments in other industries and enterprise. Other economic impacts include the increase in tax revenues, enhance recreational and tourism opportunities and rising property value (Morse & Goss 89). However, gambling has increased job insecurity since workers have no regulations to secure their interests. Gambling has economic value to the business as well as to the society, and therefore, I could focus on increasing technologically advanced gaming facilities. The trend aids to increase the social and economic values to clients, society and the business (Kilby & Fox 90). Regular improvements, innovations and good customer services could ensure the business remains on its core

Women in Engineering & Science Disciplines Term Paper

Women in Engineering & Science Disciplines - Term Paper Example Women engineers are generally very few in the workplace. In the case of the United States, 53% of the people in all entry-level jobs are women (Shellenbarger 3). However, at the director level, only 35% of people are women. Also, 24% of the people in senior vice president positions are women. This indicates that there is a general issue with the rise of women in the corporate world. This implies that the general trend has some impact on engineering, which is seen to be traditionally a male-dominated field. One of the reasons identified by Shellenbarger (3) is that women lack sponsors who would nominate them into top positions in engineering and scientific organization. This is because they often do not put themselves up for these top jobs when compared to their male counterparts. Women prefer to stay away from stressful problems and jobs. Thus, they end up becoming content with these lower level jobs. Secondly, females are not found in the engineering field because most training that would get them to become engineers are designed for only males or males only find themselves in those fields (Ovide 1). This is because there are some tough training and recruitment programs that are not often disposed of favorably towards women. Due to this, women find themselves in the back role of these engineering entities and they end up becoming more or less the less dominant voice in the industry. The GM boss, Dan Akerson stated that women are not often put into engineering positions because most managers do not use plans and systems that are robust enough to get the best pool of talents. In other words, recruitment systems are not thorough enough to give women the chance. She stated that if directors and managers were to widen their HR net, they would be able to locate and find hard-working women through a conscious and concerted effort to go out and look for such persons to fill up important vacancies.

Nature And Purpose Of The Conceptual Framework Accounting Essay

Nature And Purpose Of The Conceptual Framework Accounting Essay Introduction The accounting conceptual framework has been criticized for not providing an adequate basis for standard setting. This inadequacy is evidenced through the FASBs standards becoming more and more rule-based. Nevertheless, no empirical evidence has been gathered to support the criticisms of the conceptual framework. We analyzed the five qualitative characteristics of accounting information from the conceptual framework in conjunction with an individuals intention to use/rely on financial statements. Using structural equation modelling, we found that only one qualitative characteristic, reliability, affected a persons intention to use financial statements. Additionally, it appears that the greatest factor that influences whether an individual rely on financial statements is their familiarity with accounting. Based on our findings, it appears that not only does the conceptual framework need to be altered, but it also needs to be changed to help create principle-based accounting standards that are useful to all people, regardless of their background. Criticism has been directed towards the Financial Accounting Standards Board (FASB) for not requiring firms to report information that is interpretable and useful for financial statements users (CICA, 1980). The FASBs conceptual framework is the core in which all accounting standards are derived. Therefore, the accounting conceptual framework must embody a set of qualitative characteristics that ensure financial reporting grants users of economic statements with sufficient information for assessments. The U.S. financial accounting conceptual framework was established between late 1970s and early 1980s. Statement of Financial Accounting Concepts (SFAC) No. 2 (1980) indicates that there are five main qualitative characteristics of accounting information; understandability, relevance, reliability, comparability, and consistency. Nature and Purpose of the Conceptual Framework The conceptual frame work has some disadvantages. It is broad based in nature and principles and may not help when actually producing the financial statement. Its standards contents may conflict with those of other boards. This framework, with minor changes, still provides the basis for the FASBs standard setting today. Statement of Financial Accounting Concepts (SFAC) No. 2 (1980) develops and discusses the qualitative characteristics that make accounting information useful. SFAC No. 2 separates the qualitative characteristics as possessing either user-specific or decision-specific qualities. The overall user-specific characteristic of accounting information is that it must be understandable. Today, the accounting conceptual framework is being blamed for accounting standards becoming rule-based, which leads to the structuring of transactions (Nobes, 2005; SEC 108(d)). In fact, FASB has even acknowledged that the conceptual framework might be inadequate for current accounting standar ds (AICPA, 2002). The conceptual framework was formed with the intention of providing the backbone for principle-based accounting standards (Nobes, 2005). However, the Securities and Exchange Commission (SEC) has recently criticized the accounting standards setting board for becoming overly rules-based, which paves the way for the structuring of transactions in the companys favour (SEC 108(d)). Critics of the framework have stressed that the move towards rule-based standards are a consequence of inadequacies in the accounting conceptual foundation. Nobes (2005) argues that the need for rule-based accounting standards is a direct result of the FASB trying to force a fit between standards and a conceptual framework that is not fully developed. A coherent and strong conceptual framework is vital for the development of principle-based accounting standards and the progression towards convergence in international accounting standards. However, researchers are unaware of any empirical evidence that supports the criticisms of the current conceptual framework. Additionally, none of the critics have looked at the conceptual framework from the most important viewpoint, the users perspective. Therefore, the rationale of this paper is to practically analyze the sufficiency of the conceptual framework, from a users perspective, in relation to an individuals reliance on financial statements for decision making. We developed a survey instrument to analyze an individuals intention to rely on financial statements using Ajzens (1991) Theory of Planned Behaviour. We found that the reliability characteristic of the conceptual framework represented the only significant dimension of a persons attitude affecting their intention to rely on financial statements. However, the understandability characteristic was approaching significance. Within the context of the theory of planned behaviour, social pressures was not significant influe nce on the intention to use/rely on financial statements, yet familiarity with accounting was found to significantly influence intention. The conceptual framework and potential financial statement users intentions can be analyzed within the context of Ajzens (1991) Theory of Planned Behaviour. Ajzen (1991) indicates that empirical evidence suggests that we can determine an individuals intention to perform behaviour through analyzing their attitude, subjective norms, and perceived behavioural control. Within this perspective, we adapted Ajzens (1991) theory of planned behaviour to an individuals propensity to rely on accounting financial statements as shown in the figure below (figure 2): (Draw a figure) The purpose of this study was to provide an empirical analysis to the criticism against the FASBs conceptual framework. Our overall results suggest that the current conceptual framework does not adequately align the objectives of financing reporting with the users of financial statements. Nevertheless, available findings have some interesting implications for the conceptual framework and future standard setting. Reliability is the only qualitative characteristic that has a positive statistical significant relationship with intention. The accounting profession is facing a choice between reliability and relevance in financial reporting, as there is an inherent trade-off between reliability and relevance (Paton and Littleton, 1940; Vatter, 1947). Reliable information possesses the characteristic of objectivity and verifiability, which is associated with historical cost accounting. Relevance, on the other hand, pertains to any information that will influence the users financial decision. Many times the most relevant information is often current or prospective in nature. Thus, we cannot have accounting information that maximizes the characteristics of both relevant and reliable because relevant information is not always verifiable. We would have expected to see relevance as a significant factor in users intention to use financial statements since the recent accounting standards have moved toward fair value accounting measures, which are considered to be more relevant than reliable information (Ciesielski Weirich, 2006). However, our results show that reliability is a significant factor. The current accounting curriculum could be the cause of our results since it is rooted in Paton and Littletons historical cost approach, which focuses on reliability of information. In the context of the Theory of Planned Behaviour, we found that familiarity to be a statistically significant factor to an individuals intention to use financial statements. Thus, as an individual becomes more familiar with financial statements, he or she is more likely to have the intention to use or rely on them when making decision. An ANOVA analysis provides further support for this as it indicates that intention to use or rely on financial statements is significantly different between accounting majors and non-accounting majors. This provides evidence that accounting could be becoming too difficult for individuals who are not proficient in accounting to understand. It appears that the movement towards rule-based accounting standards could be a contributing cause of this disparity in intention. That is, the accounting standards have become so technical upon their execution that the average reader of accounting can no longer discern the main objective of each financial statement element. This finding is troubling to accounting since it contradicts the primary objective of accounting, which is to offer practical book-keeping information for judgment making. Book-keeping information should be useful for all people who want to use it rather than only being useful to those who understand it. Additionally, under no circumstances, should accounting information provide an advantage to individuals who happen to be experts within the field. Accounting should be a tool and not a barrier At the-present, the accounting profession is grappling with a problem, which it has identified as the need for a conceptual framework of accounting. This framework has been painstakingly developed over centuries, and it is merely the professions task to fine tune the existing conceptual framework because of the need for continual development due to changing conditions. This conceptual framework has never been laid out in explicit terms; consequently, it is continually overlooked. A conceptual framework has been described as a constitution, an articulate arrangement of interconnected objectives and rudiments that can guide to reliable standards and that stipulates the character, purpose, and confines of financial book-keeping and fiscal statements. For many accountants, the conceptual framework project is difficult to come to grips with because the subject matter is abstract and accountants are accustomed to dealing with specific problems. In resolving those problems, accountants may unconsciously rely on their own conceptual frameworks, but CPAs have not previously been called on to spell out their frameworks in systematic, cohesive fashion so that others can understand and evaluate them. It is essential that a framework be expressly established so that the FASB and those evaluating its standards are basing their judgments on the same set of objectives and concepts. An expressly established framework is also essential for preparers and auditors to make decisions about accounting issues that are not specifically covered by FASB standards or other authoritative literature. It is considered that if the conceptual framework makes sense and leads to relevant information, and if financial statement users make the necessary effort to fully understand it, their confidence in financial statements and their ability to use them effectively will also be enhanced. No one who supports the establishment of a conceptual framework should be labouring under the illusion that such a framework will automatically lead to a single definitive answer to every specific financial accounting problem. A conceptual framework can only provide guidance in identifying the relevant factors to be considered by standard setters and managers and auditors in making the judgments that are inevitable in financial reporting decisions. A Classical Model of Accounting: The Framework Expanded Historically, the particularized information, which constituted the emergence of accounting, was embedded in a framework for control of human behaviour. With the advent of exchange replacing a sustenance society, and with exchange ultimately producing a private economy, accounting derived its second, and in modern times considered its most important, function as a planning instrument. The classical model simply states that behavioural patterns do exist in the structural development of accounting; that is, given a stimulus there will be a response which is direct reaction (an expected reaction) to that stimulus. One can relate this model to the classical model in economics, in which supply and demand for a commodity react in an expected manner due to a change in price. Figure 3 is a geometric illustration of the classical model. The special features of the model are: (a) Stimulus (S) = Demand; Response (R) = Supply (b) Equilibrium (E) = Stimulus = Response (c) Environmental Condition (EC) = Price (d) Accounting Concept (AC) = Product A Test of the Validity of the Model If the classical model does exist in accounting, the historical observations (see table I) should then bear testimony to its existence. The evidence to support this model is purely historical. However, no parallel should be drawn between this thesis (stimulus/Response) and Toynbees (1946, 88) line of inquiry: Can we say that the stimulus towards civilization grows positively stronger in proportion as the environment grows more difficult? Consequently, the criticism directed at his work should not be considered even remotely as applicable to this inquiry (Walsh 1951, 164-169).On the other hand, only in the extreme can the accusation levelled at Kuhn [1962] be directed here, that the conceptual framework (classical model of accounting) as presented may subsume too many possibilities under a single formula (Buchner 1966, 137). More appropriately, this study is undertaken along the lines suggested by Einthoven (1973, 21): Accounting has passed through many stages: These phases have been largely the responses to economic and social environments. Accounting has adapted itself in the past fairly well to the changing demands of society. Therefore, the history of commerce, industry and government is reflected to a large extent in the history of accounting. What is of paramount importance is to realize that accounting, if it is to play a useful and effective role in society, must not pursue independent goals. It must continue to serve the objectives of its economic environment. The historical record in this connection is very encouraging. Although accounting generally has responded to the needs of its surroundings, at times it has appeared to be out of touch with them. The purpose of this line of inquiry is to put into perspective concepts which have emerged out of certain historical events. (In this treatise, accounting concepts are considered to be interlocking with accounting measurement and communication processes; thus, whenever the term concept is used herein, it is to be understood that accounting measurement and communication processes are subsumed under this heading.) These concepts collectively constitute, or at least suggest, a conceptual framework of accounting. The classical model is postulated as follows: For any given environmental state, there is a given response function which maximizes the prevailing socio-economic objective function. This response function cannot precede the environmental stimulus but is predicated upon it; when such response function is suboptimal, the then existing objective function will not be maximized. In a dysfunctional state, a state in which environmental stimulus is at a low level a level below pre-existing environmental stimuli, disequilibrium would ensue. In any given environment, the warranted response may be greater or less than the natural or actual response. When environmental stimuli cease to evoke response, then the socio-economic climate will be characterized by stagnation as the least negative impact of disequilibrium conditions, and decline when such environmental stimuli are countercyclical. Stage 1 In this period, (1901 to 1920) the environmental stimulus was corporate policy of retaining a high proportion of earnings [(Grant 1967, 196-197); (Kuznets 1951, 31); (Mills 1935, 361,386-187)]. This period is the beginning of corporate capitalism. The term corporate capitalism is used because it emphasizes the role in capital formation which corporations have ascribed to themselves. Hoarding of funds by corporations has reduced the role and importance of the primary equity securities market. The resource allocation process has been usurped by corporations (Donaldson 1961, 51-52, 56-63). The implication of such a condition is accentuated in the following statement: It is the capital markets rather than intermediate or consumer markets that have been absorbed into the infrastructure of the new type of corporation. (Rumelt 1974, 153). The hard empirical evidence of this condition was revealed by several tests of the Linter Dividend Model, which maintains that dividends are a function of profit, and are adjusted to accommodate investment requirements [(Kuh 1962, 48); (Meyer and Kuh 1959, 191); (Brittain 1966, 195); (Dhrymes and Kurz 1967, 447)]. Given the new role assumed by the corporation in capital formation, the investment community (investing public) became concerned with the accounting measurement process. The accounting response was verifiability (auditing) to demonstrate the soundness of the discipline. Productivity of existing measurements had to be verified to satisfy the investors and creditors. The Companies Act 1907 required the filing of an audited annual balance sheet with the Registrar of Companies [(Freer 1977, 18); (Edey and Panitpadki 1956, 373); (Chatfield 1956, 118)]. Thus, auditing became firmly established. The function of auditing measurements is the process of replication of prior accounti ng. Accounting is differentiated from other scientific disciplines in this aspect of replication. Replication is a necessary condition in sound disciplines; however, replication is generally undertaken in rare instances. In accounting, on the other hand, replication is undertaken very frequently for specified experiments business operations at the completion of the experiments business (operating) cycle. These experiments business operations, cover one year; at the end of the year, the experiments are reconstructed on a sampling basis. Auditing is the process by which replication of accounting measurements are undertaken. Publicly held and some privately held corporations are required to furnish audited annual financial statements which cover their business activities on an annual basis. Stage 2- This period, (1921 to 1970) witnessed the reinforcement of corporate retention policy. This condition shifted the emphasis of the investor to focus on the Securities market in the hope of capital gains, because of the limited return on investment in the form of dividends. Indubitably, investors concern was shifted to market appreciation through stock price changes reflecting the earnings potential of the underlying securities (Brown 1971, 36-37, 40-41, and 44-51). With the securities market valuation of a companys share (equity) inextricably linked to the earnings per share, the emphasis is placed on the dynamics of accounting as reflected in the income statement. The Companies Act of 1928 and 1929 explicitly reflect this accounting response by requiring an income statement as a fundamental part of a set of financial statements [(Freer 1977, 18); (Chatfield 1974, 118)]; although an audit of such statement was not explicitly stipulated, it was implied. The accounting response of this period is extension of accounting disclosure [(Chatfield 1974, 118); (Blough 1974, 4-17)].The Wall Street Crash of 1929 and subsequent market failures constitutes the environmental stimulus. In the U.S.A., the Securities Act of 1933 and then the Securities and Exchange Act of 1934 were enacted, providing for a significant involvement of the government in accounting. Stage 3- This period is characterized by the social awareness that business as well as government must be held socially accountable for their actions. Business can transfer certain costs to other segments of society, thus business benefits at the expense of society; and government can not only squander hard earned dollars but through its policies affect adversely the welfare of various segments of society. This awareness is epitomized in the thesis posited by Mobley [1970, 763]: The technology of an economic system imposes a structure on its society which not only determines its economic activities but also influences its social well-being. Therefore, a measure limited to economic consequences is inadequate as an appraisal of the cause-effect relationships of the total system; it neglects the social effects. The environmental stimulus of corporate social responsibility evoked the accounting response of socio-economic accounting a further extension of accounting disclosure. The term socio-economic accounting gained prominence in 1970, when Mobley broadly defined it as the ordering, measuring and analysis of the social and economic consequences of governmental and entrepreneurial behaviour. Accounting disclosure was to be expanded beyond its existing boundaries beyond the normal economic consequences to include social consequences as well as economic effects which are not presently considered (Mob1ey 1970, 762). Approaches to dealing with the problems of the extension of the systemic information are being attempted. It has been demonstrated that the accounting framework is capable of generating the extended disclosures on management for public scrutiny and evaluations [(Charnels, Co1antoni, Cooper, and Kortanek 1972); (Aiken, Blackett, Isaacs 1975)]. However, many measurement problems have been exposed in this search process for means to satisfy the systemic information requirement of this new environmental stimulus [(Estes 1972, 284); (Francis 1973)]. Welfare economics, as a discipline, has always been concerned with the social consequences of governmental and entrepreneurial actions, but the measurement and communication problems are, and always have been that of the discipline of accounting (Linowes 1968; 1973). The Conceptual Framework: A Continuing Process Presented above, the stimulus/response framework exhibiting structural adequacy, internal consistency and implemental practicality has demonstrated, unequivocally, its effectiveness over the centuries. The systemic information of financial accounting is the connective tissue of time in a financial perspective. The systemic information of managerial accounting is non-connective, but rather reflects events in a decision-making perspective. This can be best illustrated in the table below: (Draw a table) The process of concept-formation is a special type of learning. The formation takes time and requires a variety of stimuli and reinforcements. The process is never fully determinate for even when the concept is well, it can suffer neglect or inhibition and it can be revived by further reinforcement or modified by new stimulation (Emphasis added.) (Meredith; 1966, 79-80). A body of concepts and interlocking measurement and communication processes (types of information stocks and flows; constraints on information allowable values and methods of measurement; media of communication quantitative and qualitative) has been developed over the centuries. This set of concepts and interlocking measurement and communication processes has emerged as responses to specific stimuli at specific points in time to satisfy specific information needs. It is this body of concepts and interlocking measurement and communication processes, which is subject to amplification and modification that constitutes the conceptual framework of accounting. Possibly, with other modifications or amplifications deemed necessary, the conceptual framework as presented above can serve as an expressly established framework to enable preparers and auditors to make decisions, which would conform and be upheld, about accounting issues that are not specifically covered by FASB standards or authoritative literature. A conceptual framework is necessary because in the first place, to be constructive, paradigm setting must develop and connect to a reputable body of perceptions and objectives. A severely developed theoretical outline should facilitate the FASB to issue additional functional and reliable standards in due course. A coherent set of principles and regulations should be the outcome, since they would be constructed upon a similar basis. The framework should augment fiscal statement users indulgence of and self-assurance in economic reporting, and it has to improve comparability amongst companies fiscal reports. Secondly, latest and emerging realistic problems ought to be more rapidly unravelled by reference to an existing outline of fundamental supposition. It is complicated, if not unfeasible, for the FASB to recommend the appropriate accounting action promptly for circumstances like this. Accountants in practice, nevertheless, ought to resolve such exertions on a routine basis. With the application of excellent verdict and with the facilitation of a commonly acknowledged conceptual scaffold, practitioners may discharge certain options promptly and then centre their attention on a tolerable dealing. Over the years various associations, commissions, and concerned persons developed and printed their personal theoretical frameworks. However, no particular framework was unanimously acknowledged and relied on practically. Identifying the necessity for a commonly acknowledged structure, the FASB in 1976 initiated effort to construct a conceptual structure that would possibly be a foundation for setting book-keeping principles and for reconciling fiscal reporting disagreements. The FASB has given out six Statements of Financial Accounting Concepts that recount to monetary reporting for commerce schemes. These include: 1, Objectives of Financial Reporting by Business Enterprises, that presents objectives and intentions of book-keeping. 2, Qualitative Characteristics of Accounting Information, that inspects the descriptions that make book-keeping information helpful. 3, Elements of Financial Statements of Business Enterprises, that offer descriptions of objects in economic statements, for instance, revenues, assets, expenses and liabilities. 4, Recognition and Measurement in Financial Statements of Business Enterprises, that lays down elementary acknowledgment and dimension standards and direction on the kind of information that should be officially integrated into economic assertions and at what time. 5, Elements of Financial Statements, which substitutes number 3 and increases its extent to comprise non-profit institutes.6, Using Cash Flow Information and P resent Value in Accounting Measurements, that gives a structure for using probable expectations of cash flows and outline principles as a foundation for measurement. The figure below is an overview of the conceptual framework. (Diagram) In the initial stage, the purposes classify the aspirations and rationale of book-keeping. Ideally, book-keeping principles developed with accordance to a theoretical structure will upshot in book-keeping reports that are extra helpful. At the subsequent stage are the qualitative descriptions that make book-keeping information functional and the essentials of monetary report, that is, liabilities, assets, among others. In the third stage are the dimension and acknowledgment perceptions employed in instituting and affecting book-keeping principles. These conceptions include suppositions, ideologies, and restrictions that illustrate the current reporting atmosphere. First Level: Basic Goals The major goals of monetary reporting are to give information which is: (1). Helpful to those concerned with the creation of savings and credit judgment and have a sensible perception of commerce and financial performance. (2). Useful to current and prospective financiers, creditors, as well as other users in gauging the quantities, instances, and ambiguity of prospective cash flows and (3). Concerns financial capital, claims to such possessions, and the adjustments in them. The goals consequently, begin with a broad concern regarding information that is valuable to financier and creditor assessments. That apprehension constricts to the financiers and creditors concern in the outlook of accepting cash from their investments or credits to commerce ventures. Ultimately, the goals centre on the monetary declarations that provide information useful in the assessment of prospective cash flows to the business enterprise. This advancement is known as judgment effectiveness. It has been said that the golden rule is the central message in many religions and the rest is elaboration. Similarly, decision usefulness is the message of the conceptual framework and the rest is amplification. In giving information to users of monetary reports, general-purpose financial statements are prepared. These reports give the most helpful information feasible at negligible expenditure to diverse consumer groups. Principal to these goals is the conception that consumers require logical acquaintance of commerce and economic book-keeping issues to comprehend the facts contained in economic reports. This fact is essential. It implies that in the groundwork of monetary statements, a stage of rational proficiency on the part of consumers can be alleged. This has an effect on the method and the scope to which data is accounted for. Second Level: Fundamental Concepts The objectives of the first level are concerned with the purposes and intentions of book-keeping. Between the second and third levels, it is essential to give particular theoretical construction blocks that elucidate the qualitative descriptions of book-keeping knowledge and describe the essentials of monetary reports. These theoretical construction blocks outline a connection involving the why of book-keeping (the goals) and the how of book-keeping (acknowledgment and capacity). Qualitative Descriptions of Book-keeping Facts Deciding on a suitable accounting technique, the quantity and kinds of facts to be revealed, and the layout in which data ought to be presented entails establishing which option provides the most helpful information for assessment making intentions (judgment convenience). The FASB has recognized the qualitative descriptions of book-keeping facts that differentiate enhanced (extra valuable) facts from substandard (less valuable) facts for assessment creation intentions. Additionally, the FASB has acknowledged particular restrictions (cost-benefit and materiality) as a component of the conceptual structure. The descriptions might be analysed as a hierarchy. Assessment Creators (Users) and Understandability The makers of judgement differ extensively in the nature of assessments they formulate, the way they formulate these assessments, the facts they already have and any other relevant information that they may acquire from their own trusted sources, and their aptitude to process the facts. For knowledge to be helpful there ought to be a correlation (relationship) involving these consumers and the judgment they create. This connection, understandability, is the eminence of facts that authorizes realistically knowledgeable users to distinguish its connotation. To demonstrate the significance of this connection; suppose that IBM Corp. gives a three-month income statement (interim statement) that illustrates temporary income way down. This statement gives appropriate and dependable facts for assessment creation intentions. A number of users, upon evaluation of the statement, choose to retail their stock. While others do not comprehend the content and importance of the report, they are aston ished when IBM proclaims a lesser year-end share and the worth of the stock turns down. Therefore, even though the facts presented were exceedingly appropriate and consistent, it was futile to those who did not comprehend it. Prime Qualities: Reliability and Relevance Importance and dependability are the two major virtues that make book-keeping information helpful for assessment making. As assured in FASB Concepts Statement No. 2, the qualities that distinguish bet