Is Monopoly Necessarily Less Efficient Than Perfect Competition?

Is Monopoly necessarily less efficient than Perfect Competition According to SJ Grant’s Introductory Economics, Monopoly is the only sole supplier of the industry. They would not inherit any competitions as well as having no close substitutes. There are many reasons that cause the formation of Monopolists. Barriers to enter or exit discourages new firms to enter the market (patent rights creates a right to sell that product, abnormal profit, predatory pricing, raw material ownership, high fixed cost, government) being a price maker, firms either merge or get taken over by other firms and economies of scale.In Perfect competition, there are many sellers and buyers; there are only homogenous goods and perfect information. They are price takers so no firm charges either below or above the ruling market price. The demand curve is perfectly elastic. In this type of market, there is consumer sovereignty and advertisement could not be used to influence consumer’s demands. Howe ver both of them are opposite extreme forms of the market structure and in the realistic world, they hardly ever occur. An economist would define efficiency as ‘nothing can be made better off without causing the loss of another’.This is also known as Pareto efficiency. Meanwhile it is also when the resources are allocated in the best possible ways at the lowest possible average cost. Figure 1 Some people view Monopoly to be less efficient than perfect competition because they face no direct competition and so they would not work towards the interest of consumers. They would fail to apprehend productive efficiency using techniques and factors of production to produce at the lowest possible average cost per unit, because the cost of production is not a main concern to a Monopolist.They would simply increase price or restrict output. Monopolies are able to do that because they are price makers; even though the setting price is determined by the demand, they are still capab le of restricting output and increase the price. This demonstrated by figure 1 where the price is set against the AR curve rather than the MR. On the contrary, perfect competition means firms compete against each other: cost in this case is one of the main issues. The firms in that market would aim to produce at the lowest average cost because of the profit maximizing point, MR=MC.But in a perfect competitive market, the firms in the long run would only get normal profit so total revenue equals total cost. Figure 2 Monopolists are able to attain abnormal profit in the long run due to barriers to entry or exit. It illustrates that monopolies have market power and the downward sloping demand curve is one of the causes as shown in figure 2. The quantity and price which the monopolist selects is largely dependent on the marginal revenue and marginal cost. But the marginal revenue curve would always be lower than the demand curve.The reason for this can be illustrated by the figure 2; It shows that at any two random points and using the method of working out the total revenue (price X quantity), you would always get a negative gradient curve. Whilst differentiating the curve’s equation, you would always get the curve being below the demand curve. The quantity or price the firm chooses is based on the marginal revenue and marginal cost because, by increasing output, it causes two contrasting effects, price and quantity.The quantity effect is that by producing one more unit and it being sold, it increases the total revenue by the price that it is sold at. But producing more units, it decreases the price of the good and makes total revenue fall: this is the price effect. The price effect means that the marginal revenue will not be constant and so it would be below the demand curve. Consequently price effect would always occur if the monopolist increases quantity. However in a perfect competition, the MR equals AR: the firms being price takers, they can only acc ept the ruling market price.The AR curve is perfectly elastic because of consumer sovereignty. In figure 3, it shows that the firms only aim the price at the market demand; no firms would produce below the ruling market price because in the long run they would be earning a loss and eventually leave the market and in contrast, they would not set it above the market price because no consumers would buy from them when the goods are homogenous and other firms are there. Figure 3 Subsequently, with the MR curve always being below the demand curve, it causes the monopolist produce inefficiently.This is because all firms desires to produce the profit maximizing point, MR=MC and when the monopoly produces at that point, it will always produce at the point that is lower than the efficient level and so monopolies misallocate resources. Hence deadweight loss occurs and this can happen both in the long and short run as there are no competition pressure for them to become allocatively efficient. Allocative efficient is when P=MC where the cost reflects the price. Another point would be that unregulated monopoly can overcharge consumers as well as not allocating resource in a satisfactory manner.In a perfect competition market, firms are able to obtain allocatively efficient in the long run. Firms can misallocate in the short run due to them either earning abnormal profit or a loss but as soon as market competitions enhances firms to earn normal profit and produce efficiently, it becomes allocatively efficient. Barriers to entry prevent this discipline from market competition to happen to a monopolist and so they continue to misallocate resources. Figure 4 The idea of misallocation of resource closely links to the result of deadweight loss.Deadweight loss is the net loss where there is a loss of goods being produced for the price that consumer pay at. For figure 4, it shows that due to the price being charged against the D curve instead of MR=MC, this causes the area of the consumer surplus , when consumer pay less for the good they were willing to pay for, to decrease and the producer surplus, the amount gained from selling a good to increase. This suggests that the monopolist is X-inefficient as consumer loses out, producers gain from it.Furthermore it can be seen that there is an area of deadweight loss formed as well. Not all resources are used in the market. In comparison to perfect competition, figure 3, all the area above P1 is the consumer surplus and there is no deadweight loss, all the quantity produced is reflected towards to consumer demand. However Monopoly being less efficient than perfect competition is not always the case. The ability of economies of scale is a mass production of a good or when goods are distributed through network or grids (i. e. water supply).This makes the cost of production cheaper thus brings the price down. They are called Natural monopoly and they are more technically efficient. In figure 5, Pm from monopoly is lower than the price from smaller firms and more quantity is produced. If these goods are provided by smaller competitive firms, the cost would be greater leading to the goods being more expensive. Figure 5 Monopolies can earn abnormal profits in the long run means that they can use the profit to invest in research and development. This is known as dynamically efficient.They choose to invest for further development because it would make them become more efficient hence maintaining their market position and also to improve their differentiated goods making demand become more inelastic. In reality, Microsoft uses their profit and invests in the development area. They are a well established company and have customer loyalty due to the quality of their goods and the patent rights they impose. In contrast to perfect competition, firms would not be able to invest because they only earn normal profit.However it is not guaranteed that monopolist would make abnormal profit; it is also possib le that they only earn normal. In conclusion, through analyzing the efficiency in productive, allocative, technical and dynamical, monopoly is not necessarily less efficient than perfect competition. Although they can misallocate resources, resulting in deadweight loss, increase price or restrict output in order to gain profit there are other monopolies that are efficient like natural monopolies.One of the main reasons that monopolies produce less than the efficient level is because they lack competition pressure. If the firm is regulated by the government maybe it would act in the best interest of the society. However others may argue that because of the government, the monopoly is being protected by them. While monopolies is not always less efficient than perfect competition, most of the time is it and that is the reason governments regulate monopolies and prevent firms merging together or get taken over by.

Epistemology Vocabulary

Epistemology: The branch of philosophy that investigates the nature, sources, limitations, and validity of knowledge. Rationalism: The position that reason alone, without the aid of sensory info, is capable of arriving at some knowledge, at some undeniable truths. Empiricism: the position that knowledge has its origins in and derives all of its content from experience. Idealism: in metaphysics, the position that reality is ultimately non matter; in EPISTEMOLOGY, the position that all we know is our ideas.Transcendental Idealism: in epistemology, the view that the form of our knowledge of reality derives from reason but its content comes from our senses. A Priori: pertaining to knowledge that is logically prior to experience; reasoning on based such knowledge. A Posteriori: pertaining to knowledge stated in empirically verifiable statements; inductive reasoning. Perception: The act or process by which we become aware of things. Sense Data: Images or sensory impressions.Primary Qualiti es: According to Locke, qualities that inhere in an object: size, shape, weight and so on. Secondary Qualities: According to Locke, qualities that we impose on an object: colour, smell, texture and so on. Solipsism: An extreme form of subjective idealism, contending that only I exist and that everything else is a product of my subjective consciousness. Skepticism: In epistemology, the view that varies between doubting all assumptions until proved and claiming that no knowledge is possible. Analytic Judgment:Sumum Bonum: Phenomenalism: The belief, associated with Kant, that we can know only appearances (phenomena) and never what is ultimately real (noumena); that the mind has the ability to sort out sense data and provide relationships that hold among them. Induction reasoning: also know as inductionism, induction. The process of reasoning to probable explanations and judgments. Hypothesis: in general, an assumption, statement, or theory of explanation, the truth which is under inves tigation. Hypothetical Method: Paradigm:Pseudoscience: Correspondence Theory of Truth: A theory contending that truth is an agreement between a proposition and a fact. Coherence Theory of Truth: A theory contending that truth is a property of a related group of consistent statements. Pragmatism: the philosophical school of thought, associated with Dewey, James, and Pierce, that tires to mediate between idealism and materialism by rejecting all absolute first principles, tests truth through workability, and views the universe as pluralistic. Pragmatic Theory of Truth:Relativism: the view that human judgment is conditioned by factors such as acculturation and personal bias. Tabula Rasa: Egocentric Predicament: Categorical Imperative: Immanuel Kant’s ethical formula: ast as if the maxim (general rule by which you act) could be willed to become a universal law; the belief that what is right for one person is also right for everyone in similar circumstances. Kant’s Categori es Locke’s theory: Thomistic Terms Realism: the doctrine that the objects of our senses exist independently of their being experienced. Critical Realism: Transcendental Realism:

Jainism vs. Sikhism Essay

Read the assigned chapters for the week and complete the following table. Be as specific as possible when identifying practices, beliefs, rituals, and historical elements. Cite sources in APA formatting. Core Beliefs Jainism Sikhism 1. Jainism, believing that reality and existence are eternal, does not believe in a Creator force or entity (Molloy, 2013). 1. Sikhism believes in a strict Monotheism, and that all names and titles that humans apply to God are limited because God is beyond all human conception (Molloy, 2013). 2. Jainism believes in the existence of Karma and its influence on the cycle of Rebirth. Unlike other religions that share this belief, Jains believe that more than just animals and insects possess a spirit that is subject to karma and rebirth (Molloy, 2013). 2. Sikhs believe in reincarnation, and that karma influences the cycle of rebirth, with the goal being to accumulate enough karma to obtain freedom from the cycle of reincarnation and be absorbed by God (Molloy, 2013). 3. Jainism believes in five ethical positions that are required for monks and nuns (to varying degrees) and recommended to laypersons. The First is Nonviolence, also known as Ahimsa, which requires the believer to bring no harm to any life-form. The second is Nonlying, as the Jains believe the lying or exaggeration may bring harm to the parties involved. The third is Nonstealing, the desire to steal comes from being attached, to the object or the world, and can cause pain to others. The forth is Chastity, among the monks and nuns it is taken as full celibacy, and among the laypeople, as  fidelity to the believers marital partner. Finally, the fifth is nonattachment, that to progress spiritually, the believer must limit their attachment to worldly objects and people, taken to the extreme among some monks to mean detachment from all including family, and clothes (Molloy, 2013). 3. Sikhs believe in the five sacred components of attire by those initiated into the Khalsa. The first is the Kesh, or uncut hair and beard, with a turban worn by the males. The second is the Khanga, or wooden hair comb, to be worn with the hair at all times. The third is the Kach, a pair of special cotton undergarments. The fourth is the Kirpan, a sword or dagger that is worn at all time. And lastly the Kara, a bracelet of steel worn to symbolize strength (Molloy, 2013). 4. The Jains believe that in the current cycle of the universe, 24 people have reached perfection and have escaped the cycle of rebirth, they are known as Tirthankara, and that they should be role-model and emulated, but not worshiped (Molloy, 2013). 4. Sikhs believe that the scriptures, known as Adi Granth, to contain the spirit of all the past Gurus of Sikhism and revere it as the last, and final guru. When faced with difficult and troubling questions, Sikhs believe that consulting the Adi Granth, or Guru Granth Sahib, by opening the book at random will provide answers (Molloy, 2013). 5. The Jains do believe in the presence of gods, but believe they are also subject to the karma and the cycle of rebirth, and that after they use their positive karma as gods, they are reborn as lesser beings again. Also that, while gods, they are not the Creators (Molloy, 2013). 5. Sikhs believe the use of Military Self-defense to protect themselves and the faith is morally correct. Such a position is unusual in the religious environment of India where nonviolence is common. (Molloy, 2013). Part 2 Respond to the following questions in 150 to 200 words: 1. What do you think is the most important similarity and which is the most  important difference? Use specifics to support your answer. The most significant similarity between Jainism and Sikhism is their continued belief in karma and the cycle of rebirth. This similarity shows that while Sikhism may have been influenced by Islamic teachings, that both faiths have retained a non-linear idea of the progression of time that is integral to Hinduism. The most important difference is each of the religion’s views of violence. The Jains believe in ahimsa, a requirement to bring no harm to anything that bear a living soul, monk and nuns going so far as to brush aside insects before walking so they are not stepped on, and the laypersons avoiding farming because plowing may cause harm to small animals and insects. The Sikhs, however, believe in the use of violence to defend them self’s and their faith, possessing within their faith a military order, the Khalsa, who wear a dagger or sword known as a kirpan at all times. This belief is also evident in the followers of Sikhism to join and participate in the militaries of the country they reside. (Molloy, 2013) 2. Consider the following statement: Sallekhana (â€Å"holy death†) violates the Jain principle of ahimsa because it is an act of violence against oneself. Using examples from Ch. 5 of your text, what points might a follower of Jainism make to argue against this statement? Ahimsa is the prohibition of causing harm. Ahimsa requires that all care must be taken so that one does not bring harm to another living soul, whether it is physical, mental, spiritual or emotional. To remain attached to the material, and the objects of this life will also bring spiritual harm to oneself. Sallekhana is an extension of the practice of fasting. The participant prepares himself for the next life by detaching from the current life, taking in only water and spiritual guidance. This practice is not a violent act against one’s body, but a natural progression at the end of one’s life. This extended fasting is only Sallekhana when willfully taken at the end of a full like as a culmination of one’s detachment from the material and as a sign of one’s virtue. Sallakhana is not an escape from one’s troubles in this life through suicide, but a releasing of this life in order to proceed to the next life in a proper fashion. (Molloy, 2013) References: Molloy, M. V. (2013). Experiencing the world’s religions: Tradition, challenge, and change (6th ed.). New York, NY: McGraw-Nill Companies, Inc.

The debts deal's failure by Fareed Zakaria Essay

The debts deal's failure by Fareed Zakaria - Essay Example The paper tells that one must note before reading the aforementioned article that Mr. Fareed Zakaria is not your run of the mill reporter, observer, or opinion columnist. He is a highly regarded member of the journalistic field whose credentials include being the host of CNN's Fareed Zakaria, editor at large of Time Magazine, an all too important columnist of The Washington Post, and author of such famous works as The Post American World and The Future of Freedom. Mr. Zakaria started off his argumentative essay by presenting the facts as he knew them to be true to his readers. The information that he presented, about the filibustering in the legislative house and the constant bickering between the Republican and Democratic parties on the floor was information that could easily be gleaned from reading the newspapers or watching the daily news shows. The information that our debt ceiling was being held hostage by politics was something that came as surprisingly new for most of us. Main ly because we had always been used to seeing these two parties managing to find some middle ground within which to work from for the benefit of many. Sadly, it seems that the era of old, open communication, and amicable settlement politics is now an era of the past. These days, our national politics is, according to Zakaria has become a world wide failure because we can no longer make our political system work for ourselves. He continues to explain how our debt crisis would have been solved during the time of Reagan, Clinton and other previous American leaders: This is how Congress used to work: grand bipartisan bargains to solve difficult problems with compromises by both sides. This is not nostalgia. It is how the system worked in the 1980s and '90s to save Social Security, reform the tax code, rationalize immigration policy and close hundreds of military bases. (Zakaria, Fareed, The Debt Deal's Failure) Mr. Fareed does his utmost best within the article in order to present even t he most complicated of economic discussions in terms that lay people such are ourselves can easily understand. He has a grasp of the current economic situation that allows him to present a highly readable and focused piece that in the end, allows the reader to contemplate the reality of our economic situation locally and its effects on our nation worldwide. That is not an easy task for somebody as highly educated as Mr. Fareed and yet he manages to pull it off with each written paragraph in his commentary. He does not try to sway his reader towards one politicial inclination or another, he merely provides all of the information that he has on hand to help his reader come to certain conclusions on his own. The Debt Deal's Failure (Zakaria, Time Magazine) does its best to present an unbiased opinion on the topic. It however, fails dismally in that aspect because Mr. Zakaria makes it very clear from the get go that he is a firm believer in the economic programs of the Democrats and tha t the Republicans should be viewed as the bad guys who ran our economy into the ground. He often does argumentative analysis of the performance of the presidents Reagan, George H.W. Bush, Bill Clinton, George W. Bush, and finally Barack Obama in relation to increasing our countries debt woes. I find it quite disturbing that he was able to present factual data on the spending and borrowing for the Republican presidents but then failed to do the same for the Democrat president. It is highly impossible that our debt managed to balloon into the

Analysis of the Case Filed against Birth Choices, Inc Study

Analysis of the Filed against Birth Choices, Inc - Case Study Example While it is true that the First Amendment provides freedom for everyone to speak up what they feel or what they deem is right, the freedom of speech is not absolute. Freedom of speech will not clothe anyone, or any group, who, in a public place will use language or words that are likely to cause a â€Å"breach of the peace.† These include statements that contain profane, libelous, defamatory, lewd, profane, or insulting word that is most likely to provoke violent reactions at their very utterance.  In this case, the acts of the members of Christian for Life in yelling out â€Å"Murderers!† and of splashing ketchup to the members of the Birth Choices, Inc., are defamatory and tends to invite a violent reaction by the latter group. Thus, the speech and the act were not a healthy exercise of freedom of speech and are not protected under the First Amendment. Being the facts, the motion to dismiss should be denied and the case should be set for trial. The issue is whether or not the corporate logo of the Birth Choices, Inc. hung on the entrance of the city center is obscene and should be taken down. The US Supreme Court defined in numerous decided cases an obscene material as those that deal with sex in a manner appealing to prurient interest. It further defines material appealing to prurient interest as â€Å"material having a tendency to excite lustful thoughts,† and defined prurient interest as a â€Å"shameful or morbid interest in nudity, sex, or excretion. It further stressed that only â€Å"hardcore† materials are not protected under the First Amendment. â€Å"Hardcore† materials include those â€Å"patently offensive representations or descriptions of ultimate sexual acts, normal or perverted, actual or simulated.†Ã‚   In this case, since the contested logo is in the form of a silhouette, it cannot be considered as a hardcore material. There is no patent representation of a sexual act between a man and a woman sin ce a silhouette can be interpreted in many ways.

Case Scenario Assignment Example | Topics and Well Written Essays - 1000 words

Case Scenario - Assignment Example The scenario points out the massive flow of pollutants from the boatyard towards the sea. On the other hand the oil containers drips oil into the sea that is a big danger for the marine life. In the scenario, there is a massive flow of pollutant emerging from the marina and going towards the sea contaminating water and endangering the marine life. The people that visit marina complain about the pollutants and the drainage of oil from the oil containers. In this way, the major responsibility of mine is to stop the flow of pollutants into the outer environment. I will have to apply rules and regulation for the restaurant to utilize the closed container for discarding the waste material (National Pollution Prevention Roundtable 2007). The material and shape of the waste containers should in this way that it can hold the heavy storms that occur seasonally in the area. However, there are several methods to build and buy such containers, like utilizing some heavy material in the waste container would solve the problem. The material could be of non-corrosive metallic material or some other material that can resist the heavy winds and storms and even the animal activity. The other problem with the oil containers that lie on the marina can be solved by utilizing a bigger oil container on the marina instead of many 50 gallon oil containers. Moreover, the utilization of bigger tank ensures no oil leakage from the tank. The tank remains properly sealed so that no oil leaks from the tank. A proper oil pumping system would ensure that oil is filled in the boats and other vehicle properly. There is a need to consider the environmental aspect, in order to control the pollution. The problem of the loose waste from the restaurant can be solved by warning the restaurant management to keep an eye on the loose waste and make rules that fine will be imposed if the restaurant continues the act. The increase in the number of waste containers will solve the problem.

Characterization Essay Example | Topics and Well Written Essays - 750 words

Characterization - Essay Example It relates the story of a younger son who prematurely demands his share of his inheritance from his father, squanders it in a distant land, and is reduced to abject poverty and starvation. He returns home to be warmly received be his father and be showered with affection and attention, to the resentment of his elder brother, who has dutifully remained at home all this while. The parable of The Prodigal Son uses characterization to draw clear parallels between the younger son and sinners, the elder son and the Pharisees and the father and God. The younger son represents sinners and, more particularly, the publicans of Biblical times. The publicans were tax collectors who were detested for their oppressive and extortionate tactics. The younger son exhibits the same greed for material wealth as the publicans, as he demands his share of the inheritance even before his father’s death. This is a form of extortion. Even when the younger son decides to return to his father, he is not motivated by genuine repentance or love for his father. His action is based on the coldly calculating decision to offer to be his father’s servant in return for food, as he realizes that his â€Å"father’s hired servants have bread enough and to spare† (15:17). It is hunger and the promise of food which bring him back. Like a publican, he is ruled by the selfish traits of self-preservation and the determination to extract what he needs through whatever means necessary – here by becoming one of his father’s h ired servants. He is still indulging in the manipulation of others to his own advantage. The character of the elder son undisputedly reflects the Pharisees who are accusing Jesus of favoring sinners and publicans. The elder sons’ attitude towards the return of his brother is redolent of the righteous indignation and the judgmental high ground taken by the Pharisees. Like the Pharisees, who are rigid and strict

A History of Mathematics Essay Example | Topics and Well Written Essays - 1000 words

A History of Mathematics - Essay Example His idea used as basis the fact that the Greek mathematicians of his time knew how to square regular polygons. He proposed that if a regular polygon were to be inscribed in a circle, and if the number of sides of the polygon were doubled again and again, the polygon would eventually become indistinguishable from the circle. This solution was still incorrect, because making the polygon coincide with the circle required an infinite number of permutations. The Europeans of the Renaissance, Leonardo da Vinci among them, tried in vain to solve the problem. They did not realize that it was impossible to square a circle using the straight edge and compass method. The Scottish mathematician James Gregory (1638 - 1675) proposed that the ratio of the area of any sector of a circle to that of inscribed or circumscribed regular polygons cannot be expressed with a finite number of terms, thus concluding that squaring the circle is impossible. Ferdinand von Lindemann (1852 - 1939) published in 1882 his proof that pi is not an algebraic, but a transcendental number (not a solution of any polynomial with rational coefficients). This essentially means that there is no way to determine if any physical object or quantity has an exact measure of pi (regardless of the unit system). Because squaring the circle involves the use of pi, Lindemann's proof ended the quest for the plane technique of squaring the circle. Trisecting an Angle Another classic mathematical problem is that of trisecting an angle, again with the restriction of using only an unmarked straight edge and a compass. Although there are certain angles that can be trisected with this method, the problem is to trisect an arbitrary angle. It has been proven that this is impossible. It can be solved, however, without the said restriction. There is no certainty of when this specific problem first arose. It is known that Hippocrates in the 5th century B.C. considered the problem. For centuries the problem of trisecting an angle (using Euclidean constructions) was pondered upon by mathematicians, but these early mathematicians focused on plane methods of trisecting an arbitrary angle, and thus failed. The first known mathematician who worked on the problem was the Greek Hippias (460 - 400 BC). He came up with the curve called the quadratix, which was originally used for squaring the circle, and was also used to solve the problem of angle trisection. Archimedes (287 - 212 BC) came up with a curve, the Archimedean spiral, and also used it to solve the problem. The Greek mathematician Nicomedes (280 - 210 BC) also worked on the problem. He came up with the curve known as the conchoid, and used it for angle trisection. These solutions, however, break the straight-edge-and-compass restriction. It was only in 1837 that it was proven that there is no solution for the original problem of trisecting any angle with only an unmarked straight edge and a compass. The French mathematician Pierre Wantzel proved the impossibility of solving the problem under the straight edge and compass restriction. Antiphon Antiphon was an orator, writer, teacher, and philosopher. He was a contemporary of Socrates. He died, like Socrates, because of political troubles. There

Irish community of new york city Essay Example | Topics and Well Written Essays - 500 words

Irish community of new york city - Essay Example The Irish community in New York is regarded among the active and most thriving population ion the multicultural city of New York. They engage in various activities that are economic oriented. They have their own Irish civic organization that are scattered throughout New York City. The organization has seen spread through from the friendly sons of St. Patrick to the New York major society. Most writers from the Irish communities stage most of the theatre companies in New York. In addition to this, their hardworking presence is also noted in their musicians. They hardly go a loss for a place to offer their performance.The Irish people are hardworking in almost every activity that they do. Not surprisingly, Irish populations living in New York have lower poverty rates compared to Americans as a whole. The households that are held by Americans of Irish descent have median incomes that are higher the Americans households. On average, Irish-American household is believed to be earning $56, 363 compared to the Native American household earning $50,046. Approximately six percent of the Irish Americans are thought to have incomes at the poverty level, compared to the general Americans who have a poverty level reaching eleven percent. Over the period of 19th century, the Irish gangs had terrorized the streets of New York. The gangs were fighting for the right of existence of the Irish population in New York City. Today, the incidents of the Irish gangs are unheard of, and the gangs do no longer exist along the streets of New York.

The Positive Affects of Arts Education for Special Education Students Essay

The Positive Affects of Arts Education for Special Education Students - Essay Example They are not only striving to find out the impact of arts education on students with special needs but also on students with no special needs. The realization of the importance of art education for improving cognitive skills of students has encouraged educational institutions to organize and promote art activities for students. It has also encouraged institutions to promote art education in formal and non-formal settings. The significance of art education to improve cognitive skills has been recognized internationally. Its importance is evident from the fact that the Director Journal of UNESCO appealed on November, 1999 to promote Arts Education and Creativity at schools (Iwai). It has been proved through research projects that the introduction of arts as proper education can promote aesthetic development of individuals. Based on this study, educational institution can make arts education an important constituent of their system. It will improve the overall performance of students in schools. According to a study conducted on two hundreds and fifteen pre-kindergarten students and two hundred and eight kindergarten students in Tel Aviv, Israel and Ohio, in the United States, it has been found that art education can actually result in aesthetic development of students. During this study, these students went through various visual activities. It was found through this study that students of pre-kindergartens and kindergartens who went through these activities under the supervision of their teachers achieved greater aesthetic development as compared to students who were without the supervision of teachers. Since arts education can successfully develop cognitive skills of children from a pre-kindergarten age, so it can be concluded that addition of arts in the formal education system will successfully result in personality development of students. It will also help students strengthen their long term memory, focus, and attention (Iwai). According to the Art for USA organization, neuroscientists from seven universities across the world have advanced the understandings of the effect of art on learning of students. The purpose of this study is to comprehend the impact of arts education on improving the overall education standard. The research does not only intend to find out how the addition of arts education can potentially improve the education standard but also to find out its impact on the cognitive development of students. It has been found through studies that with the help of arts, students develop focus and attentions skills. It also promoted memory retrieval among students. Therefore it can be concluded that art can not only enhance cognitive skills of students but can also help them in other forms of learning. So, art is necessary for the cognitive development of both students with special needs as well as students with no special needs. Scientists have conducted brain imaging studies as well as behavioral assessments to evaluate the ef fectiveness of arts education for students. With the help of research, it has been found that various forms of art can actually result in cognitive development of students. According to studies, music can help students improve geometric representation skills. The education of music can contribute to the cognitive development of students by enhancing their reading skills and sequence learning. Acting is also an important part of arts. Acting arts help students imp

The Darkness out there Essay Example for Free

The Darkness out there Essay Changing the mood during a story makes it more exciting and less predictable which captivates the readers interest. Both stories show evidence of significant mood change, which created a successful amount of suspense when I read them. The endings of the three stories are all quite similar because the characters die at the end because of what they have been through. Frankenstein ends as it began with letters written from Walton to his sister. Frankenstein has journeyed to the Arctic in pursuit of his creation and has lived to tell the extraordinary tale of his life. The reader finds out that the end of Frankensteins story was in the prologue and everything is pieced together, for example, the sighting of the gigantic stature in the beginning. After completing his story, Frankenstein dies on the boat and his monster finds him. The compassion he once felt for his creator returns to him as he confesses he wants to die too. The morals used throughout the story are summed up here in part of the monsters speech. I, the miserable and the abandoned, am an abortion, to be spurned at, and kicked, and trampled on Here, Shelley communicates the idea that everyone should be loved no matter how they look. This could be related to many modern issues, for example, a mother abandoning her baby. The ending matched the theme of the story, e. g. death and bereavement, and was very detailed. I liked the way the letters at the beginning and the end made the story very complete, and gave the story more of a purpose to be told. Walton wanted to hear it; Frankenstein wanted to tell it. Many of the ideas Shelley used in the novel were talked about by the monster at the end which also made the story educational because it talked about very realistic issues. In The Raven Poe leaves you unsure about the ending he has written. It is quite evident that the man is dead and the raven has frightened the man to death because his soul from out that shadow lies floating on the floor, which seems as if he has left his body but we are never sure why. The only evidence we have is that the man was a firm believer of superstition and maybe he was so scared of the thought of dying that it killed him. This is like the ending in The Tell Tale Heart, also by Edgar Allan Poe. At the end you know that the younger man has killed the older man but you cant figure out why. Poe lets the readers decide for themselves what has truly happened which involves their imaginations, which makes it a more memorable ending because the reader has had to think about it more. In Man Overboard it is safe to assume that a shark killed the man because he was praying to die and suddenly His last appeal had been heard and a fin approached him slowly. In Frankenstein and Man Overboard the men wanted to die so the ending is satisfactory to the character and reader because it was what was expected. In one of the stories it might have been better to keep the character alive for longer to create more fear in the characters mind which would have built up more suspense in the story if the character had to keep going through more horror. The ending of The Raven was good because the man didnt want to die but he did. This made the story more horrific because the character didnt want what happened in the end, making him more frightened and adding more fear and tension to the story for the reader because they could be so involved in the story that they would feel what the character is feeling. Linking ideas throughout a story is an effective way of keeping a reader interested. It keeps the story exciting if the reader is able to piece parts of different plots together. However, if the writer continually keeps inventing new plots that have no relevance to any of the current ones and make up a new story on their own, the reader may start to lose interest because it may confuse them. In Frankenstein, Shelley links many plots to one another as the novel progresses. This helps the reader to develop a clearer understanding of what is happening because each plot supports another one. The letters in Frankenstein are a good example of the way Shelley links different characters ideas together in the story. The letters Frankenstein received when he was away at Ingolstadt were about what was happening at his home. These letters made it easier for me to understand the story when Frankenstein returned home because all of the information had already been supplied about the environment and characters. I didnt have to concentrate on figuring out things about the story, which made it easier to read. The letters acting as the prologue and epilogue from Walton to his sister also linked the story together very well. When I had finished the story I realised what everything meant at the beginning, for example when Frankenstein said to Walton I have lost everything and cannot begin life anew. Reading statements like that at the beginning built up a lot of suspense and made me want to keep reading to find out more. This helped me enjoy the story more because I was always searching for something to find out about in the text. In The Raven, Poe links ideas with words, rhyme and verse structure. The way he wrote about the raven saying Nevermore at the end of each verse gave the plot more continuation because it provided a reason for man to keep reacting to in the next verse. It made me wonder whether the raven would say anything else so it kept me interested. The verses and the rhyming patterns are very structured, which linked each verse of the story together because they were of similar length and sound. The way the rhyming of the ore sound kept appearing in the same places in each verse gave the poem more rhythm and familiarity and linked the verses together even more because I was able to tell when the next rhyme would be. In Man Overboard, Churchill links the song with the setting very well. This is very important because the song is the cause of the ending of the story. Rowdy Dowdy Boys is a sea song and as the story is set on a ship, this makes it very appropriate and makes the atmosphere feel more realistic. It makes it easier to imagine the song being sung in its surroundings and puts the story into context more effectively. The main difference between these two stories is the type of language they contain because of the different periods they were written in, and the effect the language has on the style of the story. The Old Nurses Story and The Darkness Out There were written in different periods of history. The Old Nurses Story uses a more formal style of English.. The style of writing in The Darkness Out There may still be used in writing today. The style of language used in each story makes them very different from each other and we can identify the period in which they were written in very easily by looking at some of the words used and things written about that were popular at that time. I found that both stories contain many realistic and relevant ideas about morals and the contrasting behaviour of adults and children. Mukwinda Phiri 10Wn English 7 Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Mary Shelley section.

Lady Macbeth Analysis Essay Example for Free

Lady Macbeth Analysis Essay Lady Macbeth has a manipulative, vindictive nature. She is a very controlling character yet we see her troubled mind reveal itself as the play progresses although as a character, in my opinion, when her mind unravels and her actions of insanity later occurs in the play I do not feel an ounce of sympathy for the murderous malicious actions of Macbeths temptress that lead him to doom and destruction. Therefore Lady Macbeth is just like a serpent that poisons her prey. In the opening scenes of the play it is clear to see how acutely in love Macbeth and Lady Macbeth are. When Macbeth is told the prophecy by the witches he immediately writes a letter to Lady Macbeth telling her of this news. Macbeth addresses Lady Macbeth as my dearest partner of greatness act 1 scene 5; this shows the magnitude of his love for her. He thoroughly respects her and reports to her, deliver thee not failing to tell her any new information. The first time we meet Lady Macbeth it doesnt give the reader a great perspective. She immediately becomes captivated in Macbeths letter and the prophecy of him being King, and conjures up a plan to kill Duncan, it is later revealed they are mutual friends, as he addresses her as honored hostess act 1 scene 6. This cold hearted nature and deep desire for social status and thriving ambition makes her desert any feelings of guilt and remorse, (for the time being). She is confident and strong, she fears Macbeth is not evil enough to execute a friend to reach the final goal of high status we hear this in her soliloquy, too full o the milk of human kindness to catch the nearest way, act 1 scene 5 she prays for help metaphysical aid act 1 scene 5 to help Macbeth become ruthless. She fears he is without ambition act 1 scene 5 and so would not carry out the deed properly. Lady Macbeth even would do the murder herself as she prays to become manlier unsex me act 1 scenes 5-7, she prays that she will have no conscience and to be filled with poison. This shows the extent of her ambitious mind. It also reveals that although how evil she is, she still needs an extra push to give her confidence, this doesnt mean however that she is an innocent flower, she is still an evil serpent at the fact that she wishes to be even more evil and filled with malice. When she first meets Macbeth she begins to goad and persuade him to do the deed she administrates ideas of looking above suspicion. She tells him look like thinnocent flower, But be the serpent undert. act 1 scene 5, Shakespeare uses very expressive language here with contrasting imagery of a flower (which represents good) and a serpent (which represents evil). This could also be interpreted as a metaphor for Macbeths relationship with his wife in that when Lady Macbeth is plotting murderous schemes and manipulating her husband, Macbeth is presented in a good and vulnerable light. The same applies for when Macbeth decides to take the murders further later on in the book and the audience gains sympathy for his wife. Macbeth is left with little to say and is interrupted by his wife on several occasions in that scene, providing the audience with a clear insight into Shakespeares intentions for the hierarchy within the relationship. That hierarchy being where Macbeth is more or less controlled by what Lady Macbeth tells him to do, almost like a spell of her own. This provides strong evidence for those who believe that Lady Macbeth is like a serpent. Lady Macbeth shows more serpent techniques as she hides her malevolent plans while greeting her guest, the King, at her household. She is skilled with her welcome of politeness towards Duncan as she has already planned that Duncan will die, fatal battlements, act 1 scene 5 yet she can mask her wickedness and still seem courteous towards Duncan. Progressing through the book from the start Lady Macbeth now symbolizes the character of wickedness to her full extent, like a snake that targets its prey and is not satisfied until the aim is achieved. In Act 1 scene 7 we see how Lady Macbeth belittles her husband in an attempt for him to agree whole heartedly to kill the king of Scotland. She tries to make him feel weak and cowardly. She uses foul phrases with appalling imagery such as telling Macbeth that while she was breast feeding her baby she would: while it was smiling in my face, have plucked my nipple from his boneless gums and dashed the brains out, had I so sworn you had done to this. She tries to come over as very menacing and heartless at this point in the play, making a point of the fact that if she had promised to kill her own child she would do so. The role of women at the time when Shakespeare wrote this play was that women were mothers and supported their husbands, there main objective would be to look after the home. A Shakespearian audience would be appalled that Lady Macbeth is neither and that she even threatens a life of a child. This shows how Lady Macbeth would have done almost anything to persuade Macbeth however, after the murder of Duncan, she contradicts herself rather strongly as she comments on not being able to kill her father. In Act 2 scene 2 Lady Macbeth shows strength. Macbeth returns from killing the king to discuss the event with his wife. Shakespeare uses this as an opportunity for the audience to feel sympathy as we see his grief and guilt. We also get to see a very new side to Lady Macbeth, she admits that if he had not looked like her own father she would have done the deed herself, showing that underneath her hard exterior, there are elements of compassion and guilt that though she expresses little, she still feels them just like any other human being. The audience then can see her snap out of her sensitive phase and channel her emotions into reassuring and controlling her husband. She tells him to dismiss his hallucinations about the dagger and to return them to frame the guards who were guarding Duncans room. These deeds must not be thought, after these ways; so, it will make us mad. The audience could consider this as foreshadowing of what occurs as the play progresses as both Lady Macbeth and her husband experience mental disturbances because of the horrific crimes they committed. Hands are used as a metaphor throughout this scene and as an extended metaphor throughout the play. Macbeth refers to his as hangmans hands and uses phrases such as ravelled sleeve of care, whereas Lady Macbeth is far more literal and tells him to wash this filthy witness from your hand. This could be interpreted as the hands representing guilt and so each character handles the guilt in different ways; Macbeth is very open about his guilt and remorse by using dramatic devices such as personification and metaphors, for example: Glamis hath murdered sleep, and therefore Cawdor shall sleep no more: Macbeth shall sleep no more. Lady Macbeth, however, deals with her culpability in a different way in that she pretends to feel nothing towards the situation but it obviously haunts her as we see in her final scene in Act 5 scene 1 where she sleep walks and hallucinates. Shakespeare illustrates this well when Lady Macbeth mocks Macbeth for being so gentle: My hands are of your colour, but I shame, to wear a heart so white. She also says rather flippantly, A little water clears us of this deed. How easy is it then! Your constancy hath left you unattended. Shakespeares intention for this scene, I think, was to show us that there is a sensitive, guilty side underneath her shell of ambition and malevolence. Conversely the depth of evil she has shown so far throughout the play cannot make her an innocent flower but an evil and manipulative serpent. When Macduff discovers Duncans murder with great astonishment, he alerts the whole castle including Banquo, Malcolm and Donaldbain of the kings death and so Lady Macbeth enters. She acts very much like thinnocent flower by pretending to be oblivious to what had happened in the previous scene, Whats the business that such a hideous trumpet calls to parley, the sleepers of the house? Then with immense dramatic irony, Macduff replies calling her gentle lady and commenting on the fact that the talk of murderous deeds is too tender for a womans ears. The audience would find this somewhat amusing as they know that Lady Macbeth is responsible for persuading Macbeth to commit the murder of Duncan and so would not in any way find the subject too sensitive or painful. Lady Macbeth is very much out of control in this scene, she is surprised to find out that Macbeth killed the two attendants which werent in her plan and she begins to falter. In the Macbeths relationship this is somewhat very different from the beginning, Macbeth did not consult Lady Macbeth of killing the attendants and this shows their relationship distancing. Lady Macbeth shows her fragility by fainting, although it is unknown to the audience if she genuinely fainted or if it is an act. Lady Macbeth experiences a loss of power and control in Act 3 scene 2, where Macbeth arranges his next murder without her involvement. Shakespeare has her character showing compassion to her husbands sorriest fancies when he complains of insecurity about his dangerous thoughts and deeds. She tries to make him forget what has happened by instructing him: Using those thoughts which should indeed have died, with them think on? Things without all remedy should be without regard; whats done is done. But Lady Macbeth has lost some of her control, her serpent like naturisms have become wilted but like a serpent, it always remains. Lady Macbeth presents herself as the gracious hostess once more as she invites the lords to dinner in Act 3 scene 4. At the beginning of the scene the audience is presented with the news of Banquos slaughter. Lady Macbeth suspects this but is not directly informed as her husband has somewhat distanced himself from her, implying that he does not need her influences for villainous thoughts any more, he can do it all by himself now. This scene manages to arouse some sympathy for Lady Macbeth as we see her power lessening downfall. This could be what ultimately leads to her suspected suicide. The audience gets to understand that Shakespeare did not want to present Lady Macbeth as a character who takes pleasure in the sight of bloodshed and gore, but one who craves power and enforces her ambitions upon those she can manipulate. We also see a role reversal here for the second time in the play. She already has upset the natural order of marital hierarchy from the beginning of the play where she presents herself in the dominant role which was extremely uncommon for that period. Then as the play progresses she becomes part of a downward spiral where she loses power and the status within the marriage as she becomes the more recessive figure next to her now dominant husband. Which in essence, could her suicide later on in the play be reflected upon the idea that Lady Macbeth needs to be the dominate figure? I think that she becomes so broken by her husbands horrific actions that even she wouldnt commit and she cant take anymore of the division between the once close couple this could be seen as an innocent flower but considering everything that has happened throughout the play, she can certainly not be called innocent. The ghost of Banquo makes an appearance at the dinner table in this scene but of course only Macbeth can see (another one of his deluded hallucinations like the dagger). He becomes extremely unsettled by this and begins to shout at the ghost with a fiery passion that stuns the rest of his guests. Thou canst not say I did it; never shake thy gory locks at me! Ross initiates the lords standing up and leaving their new king in peace to rest and collect himself but Lady Macbeth being thinnocent flower that she pretends to be assures the lords that he is fine and is just unwell. The audience feels some sort of consideration for her as we can see her husbands mental health deteriorates and her power disintegrate. She snaps at Macbeth Are you a man? as she quite obviously feels utterly embarrassed by his reactions to the ghost. She tries to use this as an opportunity to regain her status above Macbeth which is understandable as she feels defeated but is selfish considering her husbands stat e, she shows serpent qualities, the need to be in control of her prey. In the most dramatic scene in Lady Macbeths presence on stage, the audience is given the opportunity to see the real Lady Macbeth as her subconscious takes over her physical state. Having no further matters to occupy her mind as Macbeth no longer tells her his plans, she begins to dwell on the past, slipping further and further from reality until she eventually completely loses her hold on sanity and takes her own life. At the beginning of her last scene, Act 5 scene 1, the doctor and gentlewoman are analyzing her recent behavior, She has light by her continually, tis her command. As light is a common metaphor for purity this insinuates that she doesnt want to be considered evil and wants to redeem herself but cant because she is too involved to dig herself out now and so her subconscious speaks the words she cannot. Out damned spot! Out, I say! One, two. Why then tis time to dot. Hell is murky. Fie, my lord, fie, a soldier, and afeard? What need we fear? Who knows it, when none can call our power to account? Yet who would have thought the old man to have had so much blood in him? A Shakespearian audience would have recognized the spot as the devils mark and would have reacted with horror as they saw this scene being played; this shows that once again she can be called a serpent. Shakespeare has used very disjointed language with punctuation separating every short phrase. This translates to her being very edgy and emotionally unstable. She then reels off a list of other people for which she feels responsible for their deaths as well as her husband. She refers back to the common theme of hands which has occurred throughout the play. What, will these hands neer be clean? All the perfumes of Arabia will not sweeten this little hand. O, O, O. She still refers to her hands as being little and the need for them to be sweetened and so this indicates the want for her to be filled with good and that she is feeling genuine guilt and mental anguish. This anguish finally leads to her suicide by unspecified means. Shakespeare probably chose not to present the death of Lady Macbeth on stage to add to the impact of her exit and last scene and also to be slightly ambiguous. I think a dying scene would have been effective for Lady Macbeths last scene; she could perhaps have given a soliloquy explaining how she truly was feeling. To let her portray her malice side and let the audience be satisfied to call her an evil serpent. The significance of Lady Macbeth being an evil woman becoming tortured with guilt and grief is off great importance to a Shakespearian audience, in that time they believed in witchcraft and in my opinion Lady Macbeth could be portrayed as how people who are evil and malicious never get away with the deed. I think a Shakespearian audience would think witchcraft would have been involved in Lady Macbeths downfall and this would be very real and true for them. She was certainly a bold character for going against the Chain of Being in which God was considered to be ultimately at the top with monarchs under that and other members of society such as lords and townsfolk following after, but at the bottom were women and so she was courageous to consider herself to be above even monarchy! Though wrong, especially considering what was said if the chain of being was to be disrupted, that chaos would arise, disrupting the natural order of life on earth and in the heavens which is seen as inexcusable a definite serpent quality. To conclude, it is evident that Shakespeare had Lady Macbeths emotional state disintegrate as the play proceeded to in effect show the downfall of a control freak. In the first two acts we have little sympathy for Lady Macbeth as Shakespeare only provides the audience with her vindictive exterior, at this time we cannot see what she is truly thinking and feeling. It is only as the play progresses that we understand why she turns out to be the way that she is, that she has a very ambitious character and so enforces that upon her husband. She feels that Macbeth becoming king will benefit them both and sees killing the existing king as the fastest way to get to the throne. She then becomes gradually defeated as Macbeths ambition and obsession with becoming king begins to soar and spiral. She is then over-ridden with guilt and eventually feels that she cannot bear the guilt that torments her troubled mind and so decides to end it all. Had her ambition not overridden her sense of morality, she could have been a respectable, intelligent woman who complemented her husbands abilities to form a perfect partnership. However, she ended up becoming a tortured, immoral, dejected soul, and disliked by many people becoming a serpent.

Islamic Finance Issues With Securitization

Islamic Finance Issues With Securitization Chapter 1 INTRODUCTION Allah has created people to know Him and worship Him, in observance of His due lordship and divinity. That is why Islam made devotion to Allah the primary requirement of a Muslim after the two witnesses [of No God but Allah, and Mohammad is His Prophet]. Transactions are part of the religious issues that a Muslim performs for the sake of Allah Most High. Every Muslim was keen on having the best conduct in transacting within their effort to get closer to Allah Most High, and to fulfill the best life structure for mankind (Does He who created not know, while He is the Subtle, the Acquainted?)[1]. One of the distinctive characteristics of the nature of transactions, and economy in general and Islamic economy in particular, was its ability to expand, renovate and develop. It has unique flexibility that can accommodate new issues and questions revolving about the needs of people, or the requirements of their transactions. Financial transactions are one of the most important aspects of daily life. They are increasingly active and developing. The forms of doing such transactions are renewed and developed in accordance with modern life activity. One of the latest and most prominent developments was the appearance of securitization process among the financial organizations worldwide. Lots of discussion is held at present about securitization, which means the conversion of illiquid assets to financial papers. In reality, securitization is a modern financial instrument that had initially started in the US, in particular. Many American banks worked hard to securitize their debts. Even though securitization originated in the Western World, Islam does not prohibit us from benefiting from non-Muslim inventions, so long as these inventions do not contradict with the basics of Islamic law and its roots. Interestingly, Islam was ahead of the West in using the securitization as a document to prove some right. Al-Nawawi discussed this issue, and declared As-Sukak Ø §Ãƒâ„¢Ã¢â‚¬Å¾ÃƒËœÃ‚ µÃƒâ„¢Ã†â€™ÃƒËœÃ‚ §Ãƒâ„¢Ã†â€™ is a plural of Sak Ø µÃƒâ„¢Ã†â€™ ; it is a written document in proof of a debt. The plural can also be Sukuk Ø µÃƒâ„¢Ã†â€™Ãƒâ„¢Ã‹â€ Ãƒâ„¢Ã†â€™ . It refers to the document issued by a guardian ordering provisions, of food or others, to entitled holde rs. The holder may sell this document to others before getting the prescribed provisions (Al-Nawawi, Abu-Zakariyya Yahya M. 1971) [43]. In securitization, special purpose company is one of the important components of such process. This type of company appears with the securitization process, and plays a critical role in that process. Accordingly, in this dissertation the researcher endeavors to know the legal position of such a company and to identify the legal Islamic ruling related to such a company based on its nature, function and relationship with other components of the securitization process. THE IMPORTANCE OF THE STUDY This topic has its own scientific and practical importance from a scientific perspective. The special purpose company (SPC) is still a hot topic under discussion. The major issue relates to its legal position in the Islamic law. There are still controversy around its nature and function. Securitization is one of the troubling issues around the world. From a practical perspective, the researcher posits that the concept of securitization in general and special purpose company in particular has entered all aspects of economic and societal life, while related transactions have spread in many countries, and hence become part-and-parcel of some banking financial instruments . Accordingly, knowledge of the concept of this type of company and its function becomes a communal obligation on every Muslim. Muslims should be well informed about such type of companies. If they are legally permissible, then he can deal with them with confidence; otherwise, a Muslim should turn away from such a company so long as he has the option. In case Muslims find that they are legally prohibited and find themselves forced to deal with them, the least they can do is express their discontent of such sort of companies or hold an ideology of rejecting them. This process of inquiry into business-related legal matters is a must in a Muslim’s life. This commitment cannot happen without the knowledge of the Islamic position of everything a Muslim deals with in his/her life, even where he/she does not have the option. THE RESEARCH QUESTIONS The research question lies down in presenting the concept of the special purpose company, and shows its impact on the issuance of Islamic financial products and more specifically Sukuk. The researcher will try in this dissertation to answer the following questions: First: What is the special purpose company, and what are the reasons behind its appearance? Second: What are the characteristics of the special purpose company, and what are its types? Third: What is securitization, its pillars and importance? Fourth: What is the importance of the special purpose company in the securitization process? Fifth: What function does the special purpose company play in the securitization process and the structuring of Islamic Financial products? Sixth: What is the legal jurisprudence and Shari’ah objective position on the special purpose company? THE GOALS OF THE STUDY In accordance with the above, I have selected this topic in order to achieve certain goals, the most important of which are: To show the concept of the special purpose company and the reasons behind its emergence. To expose the characteristics of the special purpose company and its types. To exert best effort to research the concept of the securitization process, and show its importance and major financing components. To show the importance of the special purpose company in the securitization process. To present the jurisprudential position and Shari’ah objectives of the special purpose company (SPC) in modern Islamic finance products structuring. PREVIOUS STUDIES As the topic is still rather new, I could not put my hands on some in-depth scientific research on the subject, except some on securitization and SPV in general. The most important of these studies were: Al-Tawreeq wa Mada Ahmmiyatahu fi Dhil Qanoon Al-Rahn Al-Aqari [Translated as: Securitization and its importance in relation to the real estate mortgage] (Al-Hijazi, Obaid Ali Ahmad 2001) [44]. The author defined securitization, its components, development and importance. The author has briefly revealed the role of special purpose companies in the securitization process. The dissertation was limited to some restricted real estate application and lacks the Shari’ah viewpoint. Dawr Al-Sukuk Al-Islamiyah Fi Tamweel Al-Mashroo’at Al-Tanmawiyah [Translated as: The role of Islamic Sukuk in financing development projects] ( Mohammed Saleh and Fath- Al-Rahman Ali, 2008),. This research, presented at the Islamic Banking Symposium, covered the concept of Islamic securitization and its role in mobilizing financial resources in order to finance development projects. It also covered the risks inherited in these sukuk and how to manage them. The author has briefly touched on the relationship arrangement among the parties to these Sukuk. The dissertation was more specific to the Sukuk from Shari’ah viewpoint and did not discuss the SPV role in these structures. Al-Tawriq wa Baqiyat Adawat Al-Suyoolah li-sook Al-Islamiyah [Securitization and the rest of liquidity instruments for Islamic market] (Mala’ekah, Saleh 2005). This study has touched on the concept of securitization and its Islamic ruling. It has further touched on the role of Al-Tawfeeq and Al-Ameen companies in the field of mutual funds securitization. At the end of the study, the researcher elaborated on some of the securitization problems. The study lacks in-depth analysis to the modern practice in today’s contemporary Islamic banking products. Al-Sukuk Al-Isalamiyah wa Tatbeeqatiha Al-Moa’sirah wa Tadawuliha [Islamic Securitization, and its modern applications and trading] (Muheisen, Fouad Mohammed Ahmad 2009). The researcher expounded therein on the securitization concept, its goals, motives, and the jurisprudential rules for contemporary securitization process together with its Islamic legal controls. Also, the researcher showed the parties to securitization process, and made a comparison between the traditional securitizations and Islamic ones but lacks the analysis of the SPV role in the Sukuk Structures. Al-Taskik wa Dawruhu fi Sooq Maliyah Islamiyah [Securitization and its role in the development of an Islamic Financial Market] (Bani Amer, Zaherah Ali Mohammed 2008). In this study, the researcher elaborated on the concept of international markets and traditional securitization and its components. The researcher also presented Islamic securitization in a good way in this study. 1.5.1 What makes this study different? In general, previous studies were concerned with historical precedence, details and comments on the securitization process in order to understand its nature, and made a comparison between traditional and Islamic securitization. No study has dealt with the concept of the special purpose company, whether from a conceptual and advantageous perspective or from jurisprudential perspective in relation to other parties to the securitization process in contemporary Islamic Finance. This dissertation is different from previous studies on the following grounds: In terms of completeness, this dissertation is more comprehensive and has covered the shortfalls in some of the previous studies, by handling the concept of the special purpose company, its characteristics and nature. In terms of categorization, this dissertation presented different layout of the research components so as to accommodate the Islamic legal position together with the jurisprudential referencing for the special purpose company, in terms of its relationship with other parties to the securitization process, which is common among countries where this structure is being practiced at present. That would make this dissertation very distinctive from other previous studies. 1.6 Methodology This dissertation assumed an inductive research method in data collection. Further, the dissertation assumed the analytical method for investigation, presentation and formulation, all the way through the conclusion about the concept of the special purpose company and its impact on securitization. 1.7 The Research Plan This dissertation covered an introduction, five chapters and the conclusion chapter six. CHAPTER ONE: Introduction: It covered the importance of this dissertation, its objectives, methodology, previous studies and the research plan. CHAPTER TWO: The Company Literature: The Company in Islamic Jurisprudence and Man-made Law. It falls into two parts: Part One: The Concept of Company in Islamic Jurisprudence Section One: The Definition of Company Section Two: Legality of a Company Section Three: Categories of Companies: Communal Companies, Property Companies, and Contractual Companies Part Two: The Concept of Company in the Man-made Law Section One: The Company by Its General Concept Section Two: The Company by Its Objective Section Three: The Company by Its Business and Activities Section Four: The Company by Its Relationship to Other Companies CHAPTER THREE: SPECIAL PURPOSE COMPANY (SPC) ROLE IN FINANCE: What is the Special Purpose Company and Its role in finance? It falls into two parts: Part One: Definition of the Special Purpose Company, Its Development and Reasons behind Its Appearance Section One: Definition of Special Purpose Company Section Two: Development of Special Purpose Company Section Three: Reasons behind the Appearance of Special Purpose Company, and the Need for It Part Two: Characteristics of Special Purpose Company, and Its Types Section One: Types of Special Purpose Company Section Two: Nature of Special Purpose Company and Its Characteristics Section Three: The Accounting Process for the Special Purpose Company CHAPTER FOUR: LEGAL AND SHARI’AH FRAMEWORK FOR SPECIAL PURPOSE COMPANY IN ISLAMIC FINANCE: It explains the Securitization Process and the Importance of Special Purpose Company for Securitization in contemporary Islamic Finance. It covers six parts: Part One: The Concept of Securitization Part Two: The Pillars of Securitization, Its Importance and Components Part Three: Types of Securitization and Comparison between the Traditional Model and Islamic Model in Security Issuance Part Four: Reasons and Prospects of Securitization Part Five: Legal Dimension (Techniques) and Accounting Dimension of Securitization Part Six:Importance of Special Purpose Company in Securitization CHAPTER FIVE: SPECIAL PURPOSE COMPANY (SPC) IN SUKUK STRUCTURING: The Relationship between the Special Purpose Company and Sukuk Structuring and other pertinent rulings. It falls into two parts: Part One: The Function of Special Purpose Company in Traditional Securitization, and the Process of Islamic Securitization Section One: The Function of a Special Purpose Company When Established in the Form of a Company Section Two: The Function of a Special Purpose Company When Established in the Form of Mutual Fund Section Three: The Function of a Special Purpose Company When Established in the Form of financing Contract Based on Trust Part Two: Jurisprudential Documentation of Special Purpose Company Section One: Relationships Documentation between Parties to Securitization Section Two: Legal Controls for the Special Purpose Company in Securitization Section Three: Proposed Model of Special Purpose Company in Securitization Process CHAPTER SIX: CONCLUSIONS, RECOMMNEDATIONS, AND FUTURE OUTLOOK: This chapter covers the most important conclusions and recommendations. I would like to point out that any human effort is characterized by flaws and imperfections. Perfection belongs only to the Divine. Anything that is true in my writing must have come from the Gracious Lord alone; whatever flaws committed must have come from myself and the devil I ask God Most High to accept this effort as sincere for His own sake. I ask God as well to make out any shortage and fix any flaw. He is the best sponsor and best supporter. May Allah take us by our good faith and intention! He is the source of success, and all praise is due to Him. [1] Quran. Surat Al-Mulk (67:14)

anorexia :: essays research papers

We all know that action is the key to success, and we always try to be the very best. But in a world that will try to knock you down you must have the strength to survive the final round. Growing up today you have to be wise because its hard to tell the truth when its covered by the lies. The world can be cruel and the world can be kind, but you had better step up or you'll be left behind. This is some of a poem that one of my friends from my support group had shared on the first day. But I shouldn't get to far ahead of myself, my name is Ender Olson, and I suffer from a very serious disorder, it is called anorexia. Some may say that anorexia is not that serious, but it changed my life, and many others. It started around when I was 13, I had never really had to worry about my weight, I had a fast digestive system, and I never seemed to gain weight. But when I hit puberty things seemed to change. My body was growing, and I started to put on weight, but this didn't bother me at all, and why should it have. But it started to in the summer of 1996, it was at summer camp, we had swimming, and it was mandatory. But unlike most of the kids I had no problem with this, I was a strong swimmer and enjoyed it allot. I got to my swim class and sat down. It was a very warm day, a day that I would remember for a long time. Well we all sat on the dock listing to them give instructions on what to do and stuff like that. But I was hot, so I took off my shirt, first mistake. The girls sitting across from me stared at me and were whispering to each other, but I had no idea what they were saying. So I did the class but as I got out of the water I was behind the two girls. They were laughing, the first one said "Did you see that guy, he had bigger boobs then you did." So I assumed they were talking about me. The signs all pointed that way, and that was the first time a person ever called me fat, and I was assured to make it my last.

Devaluation and Export Performance Essay -- Economics

Agriculture plays a vital role in the Ethiopian economy, contributing 42 percent of Gross Domestic Product (GDP), 80 percent of the employment and 90 percent of total export earnings (Ministry of Finance and Economic Development [MoFED] 2011; Diao et al. 2010). In 2009 with an effort to remove the vicious socio-economic circle, the government of Federal Democratic Republic of Ethiopia (FDRE) developed a Growth and Transformation Plan (GTP) with a priority to export orientated agricultural development to lead industrialization (MoFED 2010 P. 22). Despite the over-ambitious plan, however, the performance of the export sector has remained undeveloped which calls for sound macroeconomic policies that are crucial to combat the bottlenecks constraining the export sector. Foreign exchange rate is a key macroeconomic variable that determines performance of export in a country. The causes why export performance depends on the foreign exchange regime in developing countries include: the characteristics of exportable goods, the effectiveness of financial sectors and trading with foreign currencies rather than with the domestic currency (Nilsson K. and Lars N. 2000). Accordingly, Ethiopia's export is characterized by primary agricultural products with inelastic export demand and supply, concentration of market and products, little value addition. The result of primary agricultural product export is a smaller marketing margin and insignificant bargaining power on the world market. The financial sector is also constrained with higher probabilities of the existence of parallel markets that fail at allocating resources to their most efficient usage. Moreover, all trade transactions are carried out with foreign currencies, predominantly with US... ... 2011. â€Å"The Dynamics between Real Exchange Rate Movements and Trends in TradePerformance: The Case of Ethiopia.† Munich Personal RePEc (Research Papers in Economics). Munich. Michael, Nwidobie Barine. 2011. â€Å"An Impact Analysis of Foreign Exchange Rate Volatility on Nigeria’s Export Performance.† European Journal of Economics, Finance and Administrative Sciences Issue 37 (September): 47-55. National Bank of Ethiopia (NBE). 2011. National Bank Annual Report 2009/10. Addis Abeba: NBE. http://www.nbe.gov.et/publications/annualreport.htm (Accessed on Apri 25, 2012). Nilsson, Kristian and Lars Nilsson. 2000. â€Å"Exchange Rate Regimes and Export Performance in Developing Countries.† Oxford: Blackwell Publishres: 331-349. The World Bank (WB). 2012. World Development Indicators: Ethiopia. WB. http://data.worldbank.org/country/ethiopia (Accessed on April 26, 2012).

Role of UNICEF and the International Labour Organization in the Working

Introduction This paper deals with the role of transnational actors like UNICEF and the International Labour Organization (ILO) in the working children’s movement. It examines the role of development communication in empowering working children, and its impact on the movement. The paper begins with a brief introduction to development, linking it with issues concerning working children. It then goes into a brief overview of UNICEF and the ILO, and talks about the role of each in the international working children’s movement. It evaluates one program executed by each of the organizations in dealing with a development situation, in terms of intent and purpose, policies and procedures, obstacles faced, and the outcome of each effort. I then present my critique of strategies followed by both actors and my conclusion from this comparative analysis regarding the effectiveness of each actor. As this is a topic that has been of concern to me for a while, this analysis might appear to be a bit subjective to the reader, but I have tried to bear in mind objectivity, and did extensive research on both organizations to make sure that I was looking at a wide enough body of work. The research consists mainly of information I found on both websites as well as a few books and journal articles. It also comes from the first hand experience of a non-profit organization that works with issues concerning working children, who have worked closely with the ILO and the United Nations. A transnational actor can be defined as a person, business or organization that operates across borders and has some impact on world societies and environments. It became apparent to me as I was doing my research that transnational actors often have admirable... ...tion to make sure the projects are meeting their goals. There needs to be constant monitoring of each new venture undertaken. Detailed evaluations of current projects and research for new strategies in place of older unsuccessful ones are essential, to make plans better cater to the needs of the children. Lastly I think there needs to be increased government and non-profit participation, and involvement of the children, to bring about the best kind of development. From a development communication standpoint, I think the ILO manages to utilize the most optimum model to bring about progress and change the status quo, wehreas this is largely lacking in UNICEF’s approach. BIBLIOGRAPHY Moemeka, Andrew. Development Communication in Action. University Press of America, 2000. www.unic.org.in/devsup13may.htm www.unicef.org www.ilo.org

Heidi Roizen Case Essay

1. Describe Roizen’s network (including her reasons for developing her network) and how she developed it. Roizen’s young adult life shaped the reasons as to why she was going to become independent and self-sufficient. After suffering the tragic loss of her fiancà © she set out to build a career and learned very early on that building connections with high-level people was something she had a talent for and something she ought not to miss out on when given the opportunity. Roizen knew she wanted to be in the technology industry, but with a creative writing degree she had limited options of jobs to choose from. At Tandem computers she wrote the internal newspaper serving as a link between the executives (including the CEO) and the rest of the employees. Roizen immediately realized how to leverage this aspect of her job description and thus began a decade long career of networking. After Tandem Roizen went to get her MBA and then partnered with her brother to launch a company that sold spreadsheet software he developed. T-Maker did not have excessive amounts of capital like some of its competitors, but Roizen knew that with her outgoing personality and her desire to meet (interesting and smart) people she could make the company successful. While marketing T/Maker she made important relationships with people that would end up shaping her career as well as dominating the Silicon Valley technology scene. Roizen was taking a gamble spending so much of her time and energy in developing rapport with these people, but thus far it had proven to be an integral factor in her career development. 2. What are Roizen’s principles of networking and relationships? How would you analyze the strengths and weaknesses of her network as we see it at the end of the case? Because of the amount of time and energy Roizen devotes to networking over time she developed guiding principles to maintain stability. Firstly Heidi claims you must have access to people, which is accomplished over a period  of time. Also held at high regard is maintaining â€Å"performance and consistency during and after each interaction.† Performance involves responsiveness and follow-through in doing what you offered or agreed upon doing. By focusing on performance and consistency Roizen believes that efficiency in maintaining relationships is achieved because interactions of high levels of substance can occur with less frequency. During Roizen’s time at Apple she adopted her next principle, which stressed neutrality and confidentiality in her relationships with competitors. While she did not explicitly state that trust was necessary most people cited in the case seemed to truly trust Roizen and her intentions, which brings us to her last and perhaps most importa nt principle of reciprocity. Roizen values reciprocity in the sense that before calling in a favor she must evaluate if it is a win-win situation for both parties. Heidi has been referred to as a catalyst, market maker, and door opener so before she can do something for someone else she wants to make sure there are mutual benefits to be realized. Heidi is a high-profile industry captain who frankly does not have the time to perform acts of goodwill all day. Her networking is the bulk of her business and her resume. The strengths of her network are that throughout her career and specifically at Softbank her networking landed her the position of partner. Before evaluating the strengths of Roizen’s network one must take the time to recognize that it takes a certain ebullient, patient, conscientious, amicable human being to be able to achieve a network with the wide spectrum of powerful individuals that Roizen began amalgamating at a very young age. The strengths of her network include penetrating the Technology sector and becoming a celebrity of Silicon Valley. Through her network she was able to leverage these relationships to benefit her herself and others along the way. By establishing her guidelines she was able to healthily separate work and her personal life even though an outsiders’ perspective may think theses boundaries are blurred in the case of Roizen’s dinner parties. It is quite apparent that much of Roizen’s success can be attributed to her expertise in the area of networking. She has positively leveraged this unique skill throughout her career to make win-win situations for both herself and the other party involved. Unfortunately networking does come  with some downside. It is overwhelmingly time consuming. As the case mentioned Roizen receives upwards of 100 e-mails a day that she feels obliged to personally answer in order to maintain successful work-related (and sometimes personal) relationships. An acquaintance mentioned the lengthiness of her e-mails decreased over time until the responses were incomplete sentences. This reflects poorly on Roizen because the 2000+ people she networks with all consider her a â€Å"friend† and expect perhaps more than she can provide them with in terms of time and energy devoted to the relationship. Besides the work-related strains this networking seeps into her personal life where she is constantly hosting events at her home, leaving little separation between home and work. Overall the networking doesn’t allow for a balanced work life, which many people claim to be essential in achieving overall happiness and even success. 3. How does she use her network, and what does she achieve through her network? Heidi realized at her first job at Tandem that she had to use her talent of being a people-person to move up in this world. She had a good eye for how to manipulate situations into the interests of her network. Starting with T/Maker she started maximizing all social situations to the benefit of marketing T/Maker. The time she spent developing these relationships during the 1980’s laid out the foundation of her network and consequently her career. Then during Apple’s decline of the 1990’s Roizen was called to the rescue where first the first time she was to formally use her network in the developer community to rebuild a brand. Her success was primarily attributed to her relationships and how she was able to effectively use them to her benefit and in this case in Apple’s benefit. Her work awarded her a promotion to build strategy and eventually to leave and create her own job description as a mentor capitalist. This is Heidi using her network at its finest. Heidi realized what she had built was unique and consequently her network gave her the ability to tailor her job description around her likes and strengths. As an independent and external director she was responsible for recruiting key positions and with her probable one-degree of separation between her and the rest of Silicon Valley she was able to make some impressive matches. It is one thing to have developed the network Heidi has,  but is another to know how to perfectly utilize its full potential and Heidi has done so throughout the course of her career. Moving to the venture capital world allowed Heidi to fulfill an interest in the equity ownership or the â€Å"financial weight† of these start- up companies. With this career change came additional responsibilities that would take away from the time Heidi had previously spent networking. Now it is up to Heidi to re-prioritize and arrange her duties to create a healthy balan ce of completing her venture capitalist duties, while retaining the network she so dutifully built. 4. How would you characterize the â€Å"breadth† and â€Å"depth† (strong or weak ties) of her network? Part of Heidi’s networking phenomenon involves a metaphor of networking as constellations. Heidi can minimize relationship maintenance by staying in more frequent contact with other nuclei of network constellations. Heidi over the years has assumed position of nuclei in her particular networking group and this gives her the ability to â€Å"leverage the network constellation approach† which results in preserving the breadth of her entire network. Her network spans thousands of people who all consider themselves personally acquainted with Heidi. There is not enough time in the day to cater to each individual so Heidi cuts corners by remaining in close contact with the nuclei of all the different networks she is a part of. Heidi also has depth to her network in the sense that she keeps in touch with non-nuclei of other networks. Heidi is most definitely a people person and over the course of her career she has gotten to know people who she likes as individuals because they are interesting and smart (two of her pre-requisites in networking!) That being said the depth of her network may seem to contradict with maintaining the breadth through the constellation approach, but Heidi’s networking is deeply instilled in her so she sees value in her relationships with the nuclei and the random individuals. And thus far her hybrid approach has proven to be successful in all of her career-driven endeavors. 5. What are your suggestions for Roizen to continue to develop and maintain her network? Should she change anything in terms of people, effort, strategies, etc? In order to effectively exploit Heidi’s strengths I would suggest that since she seems to have flexibility in designing her job she could cut down the time she spends reading business plans for a few reasons; she does not enjoy that aspect of venture capital and because she could use that time to network which is a main reason why she was hired. Currently Heidi does not have enough time to evaluate business plans, help companies in early growth stages and to maintain her networking relationships. If Softbank wants to be able to take advantage of Heidi’s rolodex they will have to agree to her requests to be able to keep up her relationships. Fortunately most executives understand how time consuming networking can be and when it is done at Heidi’s level it should be deemed a full time job. I understand Heidi’s reasons for wanting to spend time with the business plans, but by delegating an initial screening process downward in the organization she may find herself with an extra few hours each day to complete time-sensitive networking issues, which would ultimately increase her performance and effectiveness.

Alliance One International Tobacco

The report is aimed at demystifying the world's second largest leaf tobacco merchant and agro-processing company which has since diversified it portfolio to also integrate other areas of economic development in non-tobacco products such as agricultural financing and also agronomy training. The company is well known of its robust structure and can be said to enjoy managerial economies of scale all looking at various operational aspects such as Operations.NATIONAL ALLIANCE at  com/ch-16-apush/">https://donemyessay.com/ch-16-apush/Legal, Finance, Marketing but most importantly the human resources aspect of the company is of paramount importance. However like any other business the company is also facing uphill challenges predominantly in its Human resources area especially issues to do with performance management faced by alliance one international. The second issue is about training and development. This is followed by the issue of occupational health and safety and integration of al l operations and people involved in them including using tried and tested HER systems such as change management.The objective of this report is basically to apply the HER systems such as change management skills to manage the organizations through a case study of. The report consists of overview of including the organizational structure, mission and vision . Alliance one International was founded in 2005 as a result of a merger between two USA based multinational tobacco merchants STANTON or Standard Commercial Tobacco Company and IDIOM Incorporated both world leaders in the leaf processing and merchant industry.As a result of this merger the end result was that of the creation of the world's second largest leaf merchant business after Universal Leaf Corporation. The report will look t the change management theory and its implementation in addition to demystifying the 3 HER concerns in the company The company traces its history and to the late 1800 with the formation of Dibbers- bro thers which was a small time family company in the USA which prospered due to demand of the leaf tobacco domestically and also through foreign trade.Another firm to Join the grab'. Y train in 1907 was Monk Austin which soon made its name in the leaf the STANTON which was more diversified as it had a wool division among other commodities with tobacco being its cash cow unit as it would contribute meaningfully o the overall company results. In 1995 the two companies Dibbers-brothers and Monk Austin agreed to merge resulting in the creation of IDIOM incorporated which again took over INTAKE tobacco worldwide operations which was the world's fourth largest merchant in 1997.

Autocratic Leadership

1. Nowadays there are several leadership styles being employed to run the organization in order to achieve the goals. One of the leadership styles that being used is autocratic style, which tell people what to do. The autocratic leadership style is always defined as excessively demanding with basically a one-way of communication. The leader will have the legitimate power to coerce subordinates to accomplish the mission. Decision-making comes from only leader and is not shared. Nevertheless, authoritarian can be useful in the under pressure situation. Leaders sometimes have to utilize this type of leadership to achieve their goals. This essay will argue that autocratic leaders are not always ineffective. This will be argued by some examples and reasons why autocratic leaders could bring about the benefit to the business and military organizations. 2. Autocratic leadership style is to put pressure on the employees or subordinates. However, in the workplace or military organization, some scenarios may require for prompt action. In these circumstances, an autocratic style of leadership can be the best style to adopt. Surprisingly, many employees have been working with an authoritarian and have a few issues to familiar with that style. One of a good example of an autocratic leader is Martha Stewart. She built her empire with personal attention to every detail. Whether people admire Martha Stewart or not, she never strays away from being careful and demanding. She's very successful in her endeavors, and often uses an autocratic management style. Many critics might argue that it was her autocratic leadership style that made her a success in the entertainment industry, which is an extremely competitive environment. Others might argue that even more success might have awaited her had she not relied so heavily on such a demanding and potentially damaging style. 3. Another circumstance where autocratic leadership can employ appropriately is while doing the projects in group. Many group projects seem to be failure because group members express their own decisions and lead to conflict. In such circumstance may need an authoritarian who can make and determine decisions for the group. The leader should seek the solution in which method the project can be done, delegate the task among the members, and make sure set the time for completion of the task. Steve Jobs, for instance, who is one of the successful autocratic leaders. He seems to be very authoritative. His decisions were made with slight consultation, and his decisions were made faster making him to react to changing in tendency of the business environment more quickly. The Environmental challenges which includes facing their rivals such as Microsoft. 4. In conclusion, some people argue that autocratic leadership style can never lead to success, but what it can achieve is to assist the process and run it into being a completion. Autocratic styles of leadership are becoming less and less applicable but there are still many contexts in which they work. During the first stage of Entrepreneurial organizations will rely on this type of leadership in order to make a decisive decisions and effective. However, it can be recommended that if leader utilize autocratic leadership should apply it wisely. Otherwise, it will be getting worse if use it in a wrong way.

Montresor

The murder of Fortunato, executed in a   gruesome manner in Edgar Allan Poe’s 1846 tale The Cask of Amontillado, is a classic example of the premeditated crime.Its perpetrator, Montresor, was actuated by malicious intent, the circumstances surrounding it showed evident premeditation and meticulous planning, and he executed it in such a way as to avoid suspicion and punishment.Montresor’s motive was simple: to avenge an insult, of which details the author does not tell us.   He confides that he is of a vindictive nature,   not be satisfied with the simple act of inflicting punishment on his tormentor. He must avenge himself in cold blood, ensuring that the victim would know he delivered the fatal blow, and escape unpunished (1).Montresor’s plan was simple enough: let Fortunato accompany him to the underground wine vaults and there, through treachery and deceit, chain him to the wall and entomb him alive.  Ã‚  Ã‚   He   cunningly devised a plan to lure Fo rtunato into his trap.  Ã‚  Ã‚   Fortunato according to the author, â€Å"prided himself on his connoisseurship in wine† (1).   He knew his friend would not be able to resist showing off his expertise in judging old vintages like the Amontillado.   Ã‚  Ã‚  Himself being skilled in Italian wine, Montresor had the perfect cover for inviting his prey into the catacombs.To escape suspicion, Montresor had to do it at such time when people would least notice something was amiss.  Ã‚  Ã‚   He thought the height of the carnival season, particularly at night when merrymakers would be wildly drunk and     carousing on the streets, would be the perfect time to carry out his plan.  Ã‚  Ã‚   The author does not tell us if he wore a costume, but Fortunato was dressed as a clown, bells and all, and people would not have recognized him, or remembered who he was last seen with.  Ã‚   â€Å"The man,† described the author, â€Å"wore motley.  Ã‚   He had on a tight-fit ting part-striped dress, and his head was surmounted by the conical cap and bells†(1).Montresor the avenger complimented his friend on â€Å"how remarkably well† he looked, feigning goodwill and friendship so as not to arouse any suspicion, of which there really was no need.  Ã‚   His friend clearly had no idea what he was up to.  Ã‚   Then the plotter subtly released the bait: he told Fortunato of his purchase of â€Å"a pipe of what passes for Amontillado† and his doubts thereof.  Ã‚   He had gone to the extent of buying the ancient cask in order to have a credible and irresistible cover for extending an invitation to his quarry. Knowing Fortunato well, Montresor pretended to be on his way to consult Luchresi, another vintage expert, whom Fortunato detested.   He appealed to Fortunato’s vanity, saying, â€Å"And yet some fools will have it that his taste is a match for your own†(1).Thinking like a criminal, Montresor had carefully avoided making any threats against Fortunato, knowing any slight hostility or animosity between them could later on be picked up by the police and lead to suspicion against him. On the contrary, he was careful to cultivate his friendship. On the night appointed, as they met at the carnival, his friend accosted him â€Å"with excessive warmth†. Montresor greeted him with equal pleasure, although for a different, sinister reason.On their way to the catacombs, Montresor continually feigned concern for Fortunato, who was being wracked by violent coughing, entreating him to return, although he knew his friend in his drunken state would not turn back.  Ã‚  Ã‚  Ã‚   He actually added to his intoxication by making him drink some more from the bottles of Medoc that lay about their path (2).  Montresor showed sardonic wit as they proceeded on their way.  Ã‚  Ã‚  Ã‚   Fortunato was asking him for a sign that he was indeed a member of the Masonic brotherhood as Montresor claimed.  Ã‚   I n reply Montresor produced a trowel from the folds of his roquelaire.  Ã‚  Ã‚   Fortunato the clown laughed it off as a joke (3).Passing through the catacombs, they finally arrived at the predetermined scene of the crime, which lay at the remotest end of the crypt.  Ã‚  Ã‚   Here was an interior crypt or recess whose contents of skeletal remains had been thrown off.   It was â€Å"backed by one of their circumscribing walls of solid granite†(4).Taking advantage of Fortunato’s weakened and drunken state, while he was bewildered upon finding himself in a cul-de-sac, Montresor quickly bound him to the granite wall.  Ã‚   Then Montresor produced from the pile of bones a quantity of building stone and mortar and with his trowel began mixing them and walling up the entrance of the niche.Even after having secured his victim, Montresor was still feigning concern for Fortunato, showing him the dampness caused by the nitre, and entreating him to return.  Ã‚  Ã‚   The r ealization by Fortunato of his doomed state was slow in coming.  Ã‚   It only came later when, having seen the wall rising higher and higher, and as his intoxication gradually wore off, he saw the horrible reality of the crime being committed against him.   Before he was completely enclosed, Fortunato apparently lost his sanity.â€Å"A succession of loud and shrill screams, bursting suddenly from the throat of the chained form, seemed to thrust me violently back,† writes the author.  Ã‚  Ã‚  Ã‚   Fearful that his victim might have escaped, he unsheathed his rapier (4).  Ã‚   Here is another proof that Montresor exercised forethought, arming himself for the trip just in case things went awry.As we consider the facts, it is clear that Montresor thought of every detail to carry out his vow of revenge, of which two foremost considerations must be satisfied: 1) the avenger was not to be caught, and 2) he must â€Å"make himself felt as such to him who has done the wrong.à ¢â‚¬ Ã‚     Ã‚  All his acts pointed to careful planning and execution of the crime: cultivating affection towards Fortunato, buying the cask of Amontillado, bringing the mortar and stone   to the secret niche, waiting for the height of the carnival season to carry out the plan.   The police must have looked for Fortunato in the usual places except in the crypt.Knowing he was in frail health, they must have written him off as having drunk away the night and ended up a victim of some drunken brawl or robbery.     Ã‚  The old rampart of bones that covered the niche was not disturbed for half a century (5).   Even if they could produce some circumstantial evidence against Montresor, like being last seen with him,   such evidence would not stand in court, as the corpus delicti must first be proved.  Ã‚   His crime was not found in his lifetime.  Ã‚   Thus he lived up to the motto of the Montresors: nemo me impune lacessit.WORK CITEDPoe, Edgar Allan.   â€Å"The Cas k of Amontillado†.  Ã‚   15 February 2007.