Media law and ethics Essay Example | Topics and Well Written Essays - 1500 words

Media law and ethics - Essay Example According to ezhilarasi(2009) â€Å"It also contains articles and important information for the farmers, the traders, the scientists, the teachers and the students†.The news paper must be totally free as it provided information on all matters of a community and it is the right of citizens of a country to know them.(Thesis) Newspaper informs, educates, enlightens and entertains people and it is the right of people to understand and entertain themselves .However if the newspapers are free then it will be government which provide free newspaper to the citizens. A private organization has no obligation to provide newspaper neither they will provide newspaper to public for free. The government needs to enlighten the citizens to upgrade their intellectual value and social personality. Public only has the main right to know about the events happening in the immediate locality and other places around the world. For this the Leveson enquiry can be taken as evidence support. What is new spaper? Newspaper can be described as a publication which is published daily or weekly which provides information and news to public about the local area and all around the world. It contains information about the current events and other information related to entertainment. As per abcteach(2008)â€Å" A newspaper is a publication that is issued daily or weekly and includes local and international news stories, advertisements, announcements, opinions, cartoons, sports news and television listings†. Newspaper is a printed form of media and hence can go in depth about information than the evening news. Since it is elaborate about news and information, people prefer it as a source of news above all. Hence it is in printed form it can be carried to any place without any difficulty. Even with the advent of computer, newspaper takes a major role in the everyday life of people. In newspaper, news is provided in sections with proper headlines. This kind of composing of news makes it easier for the people to synthesize it and read it. Nowadays there are varieties of newspaper available in the market and each one project some advantage or another. People have preference over newspaper according to their will and taste .Some people find some newspaper advantageous over another and informative too. Newspaper also is informative and helpful for students. According to Dickinson(2009)â€Å" Reading   a newspaper is a democratic responsibility – If you believe that then spend  your time fighting the way most media outlets ignore this vital role† The role of newspaper in the society The newspaper has an important role to play in any democratic nation. It supplies vital information to public on which they can act and react. Newspaper publishes information and events in political, economical, social and about moral evils in the society. According to itimes(2011)â€Å"The papers publish all comings and goings happenings in the fields of social, economic , politic, sports and moral evils in the society† .It is a known fact that newspaper help to fight on many moral and ethical evils in the society. In UK there are numerous amounts of moral evils occurring in the society. With the help of newspaper, public get to know what these evils are and how to react on them. There are also economic evils like smuggling, drugs abuse, murder, corruption which need the attention

Biodiesel in Malaysia Essay Example for Free

Biodiesel in Malaysia Essay In the United States, the majority of biodiesel is made from soybean or canola oils, but is also made from waste stream sources such as used cooking oils or animal fats. Biodiesel is a diesel replacement fuel that is manufactured from vegetables oils, recycled cooking greases or oils, or animal fats. History of biodiesel around the World Transesterification of a vegetable oil was conducted as early as 1853 by scientists E. Duffy and J. Patrick, many years before the first diesel engine became functional. Rudolf Diesels prime model, a single 10 ft (3 m) iron cylinder with a flywheel at its base, ran on its own power for the first time in Augsburg, Germany on August 10, 1893. In remembrance of this event, August 10 has been declared International Biodiesel Day. Diesel later demonstrated his engine and received the Grand Prix (highest prize) at the World Fair in Paris, France in 1900. This engine stood as an example of Diesels vision because it was powered by peanut oil a biofuel, though not biodiesel, since it was not transesterified. He believed that the utilization of biomass fuel was the real future of his engine. In a 1912 speech Diesel said, The use of vegetable oils for engine fuels may seem insignificant today but such oils may become, in the course of time, as important as petroleum and the coal-tar products of the present time. During the 1920s, diesel engine manufacturers altered their engines to utilize the lower viscosity of petrodiesel (a fossil fuel), rather than vegetable oil (a biomass fuel). The petroleum industries were able to make inroads in fuel markets because their fuel was much cheaper to produce than the biomass alternatives. The result, for many years, was a near elimination of the biomass fuel production infrastructure. Only recently have environmental impact concerns and a decreasing cost differential made biomass fuels such as biodiesel a growing alternative. Research into the use of transesterified sunflower oil, and refining it to diesel fuel standards, was initiated in South Africa in 1979. By 1983 the process for producing fuel-quality, engine-tested biodiesel was completed and published internationally. An Austrian company, Gaskoks, obtained the technology from the South African Agricultural Engineers; the company erected the first biodiesel pilot plant in November 1987, and the first industrial-scale plant in April 1989 (with a capacity of 30,000 tons of rapeseed per annum). Throughout the 1990s, plants were opened in many European countries, including the Czech Republic, Germany and Sweden. France launched local production of biodiesel fuel (referred to as diester) from rapeseed oil, which is mixed into regular diesel fuel at a level of 5%, and into the diesel fuel used by some captive fleets (e. g. public transportation) at a level of 30%. Renault, Peugeot and other manufacturers have certified truck engines for use with up to that level of partial biodiesel; experiments with 50% biodiesel are underway. During the same period, nations in other parts of the world also saw local production of biodiesel starting up: by 1998 the Austrian Biofuels Institute had identified 21 countries with commercial biodiesel projects. 100% Biodiesel is now available at many normal service stations across Europe. In September of 2005 Minnesota became the first U. S. state to mandate that all diesel fuel sold in the state contain part biodiesel, requiring a content of at least 2% biodiesel. History of biodiesel in Malaysia One such fuel, which has been gaining prominence in recent years, is biofuel. Clean and renewable, biofuel has been touted as the answer to the issue of the diminishing of energy reserves. It was led by Yang. Berbahagia Tan Sri Datuk Dr Yusof Basiron, former Director General of MPOB, MPOB has been the pioneer and is at the forefront in researching into palm biodiesel project. Since the 1980s, MPOB in collaboration with the local oil giant, PETRONAS, has begun to develop a patented technology to transform crude palm oil into a viable diesel substitute. This process involves the transesterification of crude palm oil into palm oil methyl esters or palm biodiesel. It has also been successfully demonstrated in a 3000 tonnes per year pilot plant located in the MPOB headquarters. Palm biodiesel has been systematically and exhaustively evaluated as diesel fuel substitute from 1983 to 1994. These included laboratory evaluation, stationary engine testing and field trials on a large number of vehicles including taxis, trucks, passenger cars and buses. Exhaustive field trials with 30 Mercedes Benz of Germany mounted onto passenger buses have been successfully completed with each bus covered 300,000 km, the expected life of the engines. Biodiesel in Malaysia In Malaysia, biodiesel called the Envo Diesel was launched by the Prime Minister Datuk Seri Abdullah Ahmad Badawi on Tuesday 22 March 2006. Malaysia currently produces 500,000 tonnes of biofuel annually and the government hopes to increase this number this year. Envo diesel blends 5% processed palm oil (vegetable oil) with 95% petrodiesel. In contrast, EUs B5 blends 5% methyl ester with 95% petrodiesel. Diesel engine manufacturers prefer the use of palm oil methyl ester blends as diesel engines are designed to handle 5% methyl esters meeting the EN14214 biodiesel standard, which palm oil cannot meet. Malaysia announced that it will build three plants to produce biodiesel from palm oil, as part of efforts to reduce its dependency on foreign oil and increase demand for domestically produced palm oil. Palm biodiesel is set to become a viable alternative to petroleum diesel, Commodities Minister Peter Chin Fah Kui told an international palm oil congress in Kuala Lumpur. Palm biodiesel is attractive when oil is above $43 he added. Crude oil is currently trading around $65 a barrel. With fossil oil fuel becoming lesser and lesser and ultimately depleting the world over, it might be wise for Malaysia to adopt and implement the use of these renewable fuel resources early, as such the national oil company, PETRONAS, must take the foremost initiative first to tap this resource by making research on the blending palm oil diesel with fossil diesel to the best possible combination so that all diesel engines in this country could start using this blend or just purely palm oil bio-diesel which has been found to be an equally efficient and effective replacement. The initiative will be the first in the world on a national scale, since Malaysia is a gross producer and net exporter of both palm oil and also of fossil oil, there is no disadvantage whether Malaysia export less palm oil or more fossil oil which is value added in the form diesel and petrol. Whether or not it is economical or practical to implement this is purely a matter of policy by the government. If export fossil diesel fuel to be consumed ; used in Malaysia alone including subsidies Malaysia could increase their foreign reserves and offset the opportunity cost created by the palm oil price fluctuation and direct export earnings from palm oil. This policy implementation should be long term and will benefit future generations of Malaysians because palm oil diesel cannot be depleted owing to the fact it is a renewable resource and when in use in diesel engines it will be environmentally friendly. Whereas fossil oil diesel can be depleted and also can cause environmental damage. The cost for producing palm oil diesel could be reduced if used cooking oil from big consumers like KFC, Mc Donalds and other fast food chains could contribute used cooking oil for recycling into diesel for consumption by diesel engines. The cost of producing bio-diesel or palm oil diesel could be a fraction compared to producing fossil diesel, as crude or palm oil of the lowest grade such as soap making fats and also palm oil sludge waste could be used and it could be converted easily into bio-diesel for engine consumption on a very large scale and if there is an economy of scale the production cost could be further reduced. much research have been done by others including the King of Thailand; and the results observed have been proven to be viable and positive and therefore Malaysia should pursue this policy of implementation as the first on the national scale to enjoy the economy of scale. In etrol engines, pure bio-ethanol has been found to be an efficient and effective alternative replacement for the petrol fuel or if necessary also by blending both with less of petrol and more of ethanol as engine fuels, the optimum combination ratio to be determined by further research for all types of petrol engines; much res earch have also been done by others who have found this advantage, recently in china, a province which is a renown corn producer has been successfully producing ethanol from old and outdated stock of corn for consumption by petrol engines in its pure form without blending on large scale, that is consumption by the whole province, they are also burning bio-residues ; wastes from the fermentations plants for distilling the alcohol ethanol. Bio-ethanol could be produced by a local company using proven foreign technology on a large scale, by using bio-mass from wood wastes from forest industries, plants wastes from orchard trimmings ; also all types of wastes from sugar, maize, tapioca, palm oil ; rubber plantations ; also from reeds, grass ; rice husks from padi fields; garbage, rubbish and other wastes in the modern waste disposal incinerators could fuel the distilling of the ethanol and also produce electricity if the excess heat could be further harnessed. most of our fossil petrol and fossil diesel to be used ; consumed in the country could then be exported to earn foreign exchange reserves or the fossil oil reserves themselves be preserved for our future generations or whichever way is truly feasible and viable. Savings and conservation of our natural resources and establishing of Malaysia’s own renewable non-depleting alternative resources of fuels could be achieved using the two methods said above if imple mented by the Malaysian government on a large scale basis could result with whole new industries that could offshoot from these initiatives. These initiatives could be realised to produce and distribute bio-ethanol and palm oil bio-diesel on a large scale, from biomass, made available from the said waste resources mentioned above, this will involve investments of about between US$1 billion to US$10 billion which Malaysia can attract outside investors interested in this program because of the large biomass waste resources available in Malaysia. The end products could even be exported to other countries lacking such resources like for example Singapore at a price cheaper than fossil fuel. Disadvantages of Biodiesel in Malaysia Projects requiring Malaysian and Indonesian palm oil as feedstock have been criticized by some environmental advocates. A Friend of the Earth has published a report asserting that clearance of forests for oil-palm plantations is threatening some of the last habitat of the orangutan. Over the past decade, Malaysia has converted large tracts of tropical rainforest to palm oil plantations on the island of Borneo. Recently, several Malaysian firms were implicated in illegal burning in Indonesia that produced a polluting haze that choked residents of Kuala Lumpur, Malaysia. Malaysias remaining old growth forests are, biologically, some of the richest on the planet and are home to a number of endangered species including forest elephants, rhinos, orangutans, tigers, monkeys, and tapir. The government has been working to encourage ecotourism but still struggles policing its own forests.

Compare and contrast the roles and relationships of the following Essay

Compare and contrast the roles and relationships of the following pairs of characters: George and Lennie (of Mice and Men) and Holmes and Watson (Sherlock Holmes stories). Compare and contrast the roles and relationships of the following pairs of characters: George and Lennie (of Mice and Men) and Holmes and Watson (Sherlock Holmes stories). Sherlock Holmes stories are short stories, which involve investigating and solving crimes. They include characters such as Sherlock Holmes and Dr James Watson, these are two main characters who are in each short story trying to solve case investigations. Of mice and men is a story in which two friends, Lennie and George are trying to look for a job so that they can for fill their dream to live in a big house in the country and be able to have no worries. The story is set in California during the American depression in the 1920/30's. The Sherlock Holmes stories are set in the late Victorian era when London was at its worst. It was hard work back then because you would have had to work in most terrible conditions, which was very unpleasant. It was also very unhygienic back then because people would chuck their sewage onto the streets, which caused diseases such as scabies, cholera and scurvy. There was a major disease called the Black Death, which wiped out a large majority of people, it was caused by rats and it was very serious. There would have been a lot of over crowding in the towns because the streets were narrow and enclosed by all of the large buildings. There was a poor travel source, there were horses and trains that you could travel on. This caused locomotion and traffic, which made it difficult to travel around. Lennie and George are two migrant... ... Holmes likes Watson's valuable gift of silence. Holmes and Watson speak to each other in an upper-class manor. For example Holmes says to Watson "I would be very much obliged if you would slip your revolver into your pocket". This shows that they speak to each other in a polite manor. Others see Lennie and George as two hardworking men who are very ambitious and passionate towards their dreams. They see Lennie as a "Big baby", who can't control his temper. Others see George as a very protective and courageous man who is very caring. Others see Holmes and Watson as two upper-class typical friends. They see Watson as a quiet man, who is very inquisitive because he wants to know about every thing Holmes does. Others see Holmes as a very knowledgeable and well-respected man, who is excellent at whatever he does. They also see him as a master of disguise.

Free Essays - The Excellent Tale of Ernest Hemingways A Farewell to Arms :: Farewell Arms Essays

A Farewell to Arms Inspiring    Ernest Hemingway^s A Farewell to Arms captures the inspiring trials and tribulations of a disillusioned man caught between love and war.   Driving an ambulance on the Italian front of World War One Frederick Henry discovers his values as he realizes his love for Catherine Barkley, a innocent English Nurse.    An American Second Lieutenant in the Italian Army^s Ambulance Corps, Frederick Henry is depicted as an average man in search of a set of values.   Initially Frederick is lonely, lustful, confused and restless, but as he becomes involved with Catherine Barkley he finds his niche, and a meaning to life. Frederick can be considered heroic in that he is honorable, not interested in material commodities, and puts his fellow soldier before himself.   When the entire mess hall teases the priest Frederick defends him and is his only true friend.   Also, when offered an award, Frederick refuses.   Additionally, when he and the other drivers were bombed, he ignores his own injuries to assist the others and insists that the doctors treat others before himself.   Catherine Barkley is a young English nurse who has already lost a fianc to the war and is introduced as partially crazy.   She begins her relationship with Frederick pretending, he is her lost fianc who has returned, but soon falls!   in love with him and regains her sanity.   Throughout the story Catherine remains static, and represents the ideal Hemingway character that Frederick is to become as the novel comes to an end.    The basic plot of the novel revolves around Frederick^s relationship with Catherine.   Frederick experiences the war in the Italian Alps and sustains a leg injury that hospitalizes him for several months.   Although he knew Catherine before his hospitalization, their relationship blossoms during this period when he is away from the front.   Soon after his return to the front, there is a huge retreat and he takes his ambulance crew on a back road to get around traffic.   When he finally does make it back to the army he is forced to desert in fear of execution.   He finds Catherine and they begin a new life together in Switzerland.   Ultimately, Frederick learns his basic values through Catherine in their adventures of love, war, and death during World War One.   The theme shown is that love can come from even the strangest places, also there is a basic good versus evil shown by the dramatic tragedy at the end.    A Farewell to Arms is a very emotional and understanding story.   Throughout the book Frederick acted as a confused hero

Inflation and its Causes

All the substance regarding this report has been explained with uphill struggle and care. This write up has demonstrated in easy mode and is understandable by the reader. It will provide the intramural and threshold aura to read and it will cover all the requisites and proviso. One of the aesthetic and charming characteristics of this project is this, that it is composed and genial. ABSTRACT The capability of financial analysis over inflation effect on employment has been highly accentuated. This analysis has been acknowledged as the means through which the livelihood and other progressing goals of the routine matters can be enquired.This report delves into the financial analysis through relationship between inflation and employment of a country like Pakistan. Statistical analysis with reference to previous year's data provided by State Bank of Pakistan, inflation in the usual course of events with the help of examples. The verdict about financial analysis may facilitate policy maker s, employment agencies, organization to ascertain, existing cooperation's and besides customary the genteel maneuver to improve their lifestyle all over the country.METHODOLOGY Aspects about inflation relationship with employment in the country has been piled p by means of primary sources by interviewing Muslim Commercial Bank garden Town Branch in the Lahore; this was the part of our information collecting activity. Secondary information has been congregated through different economies, financial management and other books, internet sites of state bank of Pakistan, finance base sites in Pakistan, exiting reports on financial analysis and generals related to employment and inflation.Our foremost endeavor was to compile and evaluate all relevant information with reference to employment and inflation in Pakistan and to Judge against this analysis with standard set by international market. BACKGROUND & OBJECTIVES Role of Financial management in the improvement process continues to be a t the vanguard of strategy contest not only in this part of the world (Pakistan) but also in other countries. Most of the specifics about Financial Management Analysis have been renowned in the entire world.The compensation allege for Financial Analysis are infinite, containing calculated interest rate, installments, present value of future position of company in the market, ratio comparison, shares and bonds value calculation, money flow, decision making with respect to financial condition of a organization, budget making (is one of the most beneficial process through which we can easily access our resources), and above all calculating economic strengthened in country.By and large the premeditated role of financial management is perceived as accelerating the accomplishment of wider economic and social aspiration. Capitalist from all over the world suggests that financial management performing efficient role as participate by production and other departments in accomplish the eventu al target of a firms. TABLE OF CONTENT Executive Summary Inflation Causes of Inflation Inflation and its EffectsInflation and its Impact Economic Factors of Inflation Non-Economic Factors of Inflation Temporary Effects Permanent Effects Review 16 Theories about Employment 07 10 11 09 Fisher Effect 12 14 18 Relationship between Employment & Inflation 25 International Condition in Inflation Conclusion Appendix -Article 33 37 -Inflation Rates of Previous Years & Graphs 15 Employment 20 26 38 -Employment Rates Comparison EXECUTIVE SUMMARY 39 Our Project â€Å"Inflation and the Employment† basically contains the answer to this question â€Å"What is the Inflation†.What are the basic meanings of inflation and what re the meanings of inflation according to the economics point of view. What are the factors by which inflation rises? Inflation's effects which it create on the overall economy. It also describes the theories of famous economist â€Å"Fisher† about inflation . And how â€Å"Fisher† theories effect the inflation of overall economy. Then this project describes economic, non-economic, factors of inflation and its temporary and permanent effects on economy. Its effects on employment and how employment can be disturbed by the inflation.Different theories of different economists are considerate to get a clear ND better understanding of inflation. This project clears the relationship between inflation and employment through graphs. Then we presented conclusion of the project. In appendix project covers an article about inflation and employment rates of previous years & graphs and their comparison. INFLATION Definition Inflation is a process in which the average level of prices increases at a substantial rate over a considerable period over time.In short, more money is required to buy a given amount of goods and services. One can measure the rate of inflation as either he annual percentage rate increase in the average price level or decr ease in the value of money. There are many causes of inflation, but in general we can divide them to the one at the demand-side and the one at the supply side of the economics. Demand pull inflation occurs when aggregate demand exceeds existing supply, forcing price increases and pulling up wages, materials, and operating and financial costs.Cost- push inflation when price rises to cover total expenses and preserve profit margins. A pervasive cost-price spiral eventually develops as group and institutions respond to ACH other new round of increases. Deflation, as a reverse process, occurs when the spiral effects reversed. Even though today's inflation is more of a mix between these two basic inflation causes and inflation inertia, this is a good classification to start with. Effects of Inflation Effect of inflation, on other hand is a many layered as its causes.Inflation is usually thought as a negative phenomenon on the basis of traditional experiences with hyperinflation, but more exact analyses of the inflation effects have shown that they depend on the form of inflation and situation in national economy. One there no longer simplistically speak of effects of inflation. Despite the progress in understanding this phenomenon, there are still many subjects unclear and need consideration: potentially also advantages (benefits). Besides advantages and disadvantages of inflation, we also have to take into account costs of disinflation.Decisions of stabilizing economics policy for or against the disinflation depend on results of a two- fold cost-benefit analysis. Results from inflation-effects analysis are important component of explaining inflation, because inflation can be politically desired caused) for its potential net benefits. Costs and benefits of inflation essentially depend on whether it is fully or only partially anticipated. Important regulation factors are also individual institutional circumstances, such as presence of index and revision clauses in l ong-term contracts.Caused by economic effects, non-economic effects of inflation can also appear, like tax-refusal, citizen's reluctance, strikes etc. Different situations in national economy can lead to different effects of inflation. These situations of inflation as well as effects of inflation will be presented in the following research. INFLATION AND ITS IMPACT Lets us take an example of an economical participant (firm) that borrow a long-term loan worth of 10,000 RSI at fixed interest rate and annual annuity of 1,000 RSI. Let us assume now that an unexpected inflation doubles price and wages.Real worth of the wages has not changed, since the price also doubles (for double nominal wage this economic participant can now buy the same amount of goods and services as before), but the real worth of the annual annuity of his loan decreased. Nominal annual annuity is still 1,000 RSI, but the economic participant (borrower) has to work for that mount only half as much as before the infl ation occurred. Hence the real worth of his annual annuity cut in two; the borrower increased his wealth, whilst the lender decreased his real income.The other way around happens in a case of disinflation or even deflation, where the real worth of annual annuity of a loan increases and the borrower wealth decreases (lenders wealth increases). This kind of outcome occurs if the inflation has been stable for several years (inflation rate has neither increased nor decreased) and it increased suddenly, which means that it was not anticipated. However, if the increase in inflation is expected (on basis of different data about movement of economic variables in national economy and global markets), economic participants (individuals, firms, banks etc. Anticipate this increase. This means that the interest rates financial and capital markets will rise according to the inflation rate increase. Fisher's Effect: Where â€Å"in† is nominal rate, â€Å"r† is real interest rate and are inflation expectations. This expression is also known as the Fisher's effect and it shows that the negative effect of anticipated inflation on real money demanded is already included in nominal interest rate. When market interest rate accommodates to the inflation expectations, then the effect on income and wealth are mainly eliminated.Beside redistribution of income, inflation also has real effects on national economy. On one hand it affects output (GAP), which is a macroeconomic effect and on the other it affects allocation of resources in national economy and economic efficiency, which is a microeconomic effect. Anticipation and Balance All this factors cause the so-called inflation cost. On the other hand, it has already been stated that inflation can lead to some benefits. In order to analyze these effects more precisely, two characteristics of inflation or behavior of economic participants have to be defined.Inflation can be anticipated or unanticipated, which means that i t is/it is not built into all economic relations (contracts). Inflation can be balanced or unbalanced, which means that all price rise/do not rise with the same rate (relative price remain/don not remain unchanged). In reality these characteristics of inflation and behavior of economic participants combine and cause different economic situations, which are presented in the following table. Economic Effects of Inflation To summarize, we can divide effects of inflation into two groups; an economic and non-economic effects.We could also understand them as costs (advantages) and benefits (disadvantages) of inflation to a national economy. Economic effects are as follow: Income effect; by these effects we understand deviation of growth rate of the GAP its natural growth rate, caused by inflation. They don't include feasible shrinks in the natural growth rate of the GAP. Employment effect; which are in strong connection with income effects. Hence they are usually defined as difference tee n natural and actual rate of unemployment.Distribution effect; of which two are traditionally subjects of practical research and scientific analysis: effect of inflation on distribution of income and effect of inflation on distribution of wealth. Allocation effect; which are the most obvious with money (cash); in term of high inflation people (economic participants) want to get rid of money because real interest rate is usually negative and their demand for other assets increase. Price of inputs for production that are based on long-term contracts cannot rise as high inflation rate either; therefore missed investments are a common phenomenon.Theses are all allocation effects of inflation, also known as microeconomic effects. Effects on economic growth; connection between inflation and natural growth of the GAP definitely exists (at least on short term), but it is still for the most part unsolved. Phenomena, such as barter trade, parallel economy (also known as â€Å"grey economy') and corruption can appear or intensify and they all decrease natural growth rate of the GAP. These effects of inflation are also known as macroeconomic effects and are n strong connection with allocation (microeconomic) effects.Non-economic effects of inflation are caused by economic effects and are the following: tax-refusal, citizen's reluctance, strikes, revolts; rising etc. These effects are not a part of our research. Employment Effects of Inflation Employment effects are usually defined as difference between natural and actual rate of unemployment and are therefore in strong connection with income effects of inflation. That deviates of growth rate of GAP below its natural growth rate, caused by inflation.That is why these two types of inflation effects are examined together. Income and employment effects of inflation are known in two forms as temporary and permanent effects. Phases of Inflation Inflation usually passes over three typical phases: at first it is accelerated, the n it is steady (stabilized) and at last it decelerates. Temporary effects are mainly connected with accelerated and decelerated inflation, hence these two Phases are assumed to last for a shorter time, while permanent effects are connected with steady (stabilized) inflation.Employment and income effects of inflation are mainly temporary phenomena that last only as long as inflation is not yet fully anticipated. Whether these effects have positive or negative consequences for a national economy depends on the stage in which inflation is discovered and situation in which economy found. Let us examine two inevitable types of inflation now: accelerated and decelerated inflation. Accelerated Inflation Accelerated acceleration is often accompanied by income and employment effect (inflation-accompanied prosperity).However, these effects can only be expected, when the increase of inflation rate is caused by monetary demand-pull and induced supply-push is delayed (a time-lag has to emerge be tween decreased monetary emend-pull and induced supply-push). If the growth rate of the money volume in the further course of adaptation process remains unchanged, positive real effects are only temporary, because of the subsequent supply-push, induced expectations and wage bargaining.Real inflation effects can only be realized, if growth rate of the money supply rises continuously and by that stable inflation acceleration is provoked. Thus means that there can no longer be any applicable long-term trade-off between given inflation rate and unemployment rate. Decelerated Inflation there are quite common with decelerated inflation. Necessary prerequisite for a lasting decrease in inflation speed is a tight monetary-policy authorities are confident in their knowledge of the amount of tightening that is needed, they can move quickly to the required higher level for interest rates.However, to extend that there is more uncertainty on the effects of monetary policy changes, due to the dev elopment of financial markets, it argues for implementing a more gradualist approach. Such uncertainty could increase the risk that a strong policy action might lead to undesirable outcomes. Gradualist strategy central banks sacrifice the speed with which their target is obtained in order to avoid overshooting the target. The degree if gradualism will be dictated by other considerations, such as central banks anti- inflationary credibility.If it is poor, there is heightened risk that a gradual policy response would increase inflation expectations. Anti-inflation Economic Policy Policies of gradualism create stress between preemptive and reactive moves. An increase risk of â€Å"falling behind the curve† suggests that a gradualist policy may needed to be followed by more aggressive moves, if events appear to be turning out differently than expected. E. G. F health were to weaken the effect of higher interest rates, at the same time that wealth effects were stimulating consumpt ion, monetary policy would face an increasing risk of â€Å"falling behind the curve†.These tensions raise the importance of the monetary authorities, credibility and transparency. If inflation expectation is well anchored, policy actions will be more effective and thus the size of any move to achieve a given objective is likely to be smaller. A credible commitment to low inflation thus provides some insurance against â€Å"falling behind the curve†. Transparency reduces the risk that policy changes will destabilize arrests.Such a strategy would allow markets to adjust their anticipations appropriately and in this way, the risk of a disorderly adjustment of asset prices can be reduced. Permanent Effects If we presume that inflation was on long-term correctly expected and completely anticipated and that there was no wage bargaining, the (long-term) curve of aggregate supply growth SSL and the (long-term) Philips curve PACK in the presented basic model become vertical fu nctions of natural income-level growth rate as well as natural unemployment rate. Note: Donation Beta represents anticipation coefficient.Friedman-Phelps Hypothesis: This corresponds to the so-called Friedman-Phelps hypothesis, by which no income and employment effects can appear with completely anticipated inflation, I. E. Each on short term possible trade-off vanishes on long-term and income-growth rate as well as unemployment rate preserve on its natural level. Reacts to such policy (with downward correction of price level), the higher are inflation costs (expenses of such inflation fighting) and danger of premature collapse of tight monetary policy increases. Anti-inflation policy therefore has to keep inflation cost as low as possible, I. . T has to pursue an adaptation path that is close to SSL as well as PACK as it can be to achieve this, anti-inflation policy has to include well- measured and above all continuous decrease of money-supply growth rate and a series of accompany measures for adaptation of expectations and for softening the wage bargaining. Effect on output stabilization may well be positive and the same is true for overall social welfare, but we cannot forget that uncertainty about the policymakers preference leads to a higher inflationary bias and also inflationary cost.EMPLOYMENT The inadequacy of public employment as a source of additional Jobs are generally understood, and it is recognized that the use of this expedient is â€Å"to some extent a desperation measure†, the current employment program relies mainly on the stimulation of the private economy by means of an inflationary tax cut, the only other tool that is now regarded as being available for the purpose. The deliberate use of inflation as a means of increasing business activity and employment is based on J. M.Keynes' economic theories, and to see Just how our present findings apply to this situation, it will first be desirable to have a clear idea as to Just what Keyne s' contentions with respect to employment actually are. His theory was developed as an alternate to the so-called â€Å"classical† theory of employment, the previously orthodox economic doctrine in this field, and his explanations are expressed mainly in terms of contrast with the earlier views†. The classical theory of employment†, he says, â€Å"has been based†¦ On two fundamental postulates†¦ Namely: The wage is equal to the marginal product of labor. The utility of the wage when a given volume of labor is employed is equal to the marginal disability of that â€Å"amount of employment. † Translating the second postulate from the professional Jargon of the economist to the Renaults, he arrives at this alternative, and more understandable, statement: â€Å"That is to say, the real wage of an employed person is that which is Just sufficient (in the estimation of the employed persons themselves) to induce the volume of labor actually employed to be forthcoming†.Keynes accepts the first of these two postulates but denies the second. The most fundamental objection to this proposition, he says, is that it involves â€Å"the assumption that the general level of real analysis he shows that this assumption is erroneous, and he arrives at the same inclusion reached in the present analysis; that is, the general level of real wages is fixed by factors which operate independently of the bargaining process, and it is not altered by any manipulation of money wages.According to Keynes, the â€Å"classical† economists' basic mistake in their analysis of the employment situation is a result of their explicit or tacit acceptance of Says Law of Markets, a principle formulated by J. B. Say, one of the early French economists, which asserts that in so far as the price paid by the buyer is income for the seller, the act of production creates all of the archiving power required to buy the product. Keynes termed this principle â₠¬Å"an optical illusion, which makes two essentially different activities appear to be the same†.By virtue of its acceptance of this law, â€Å"The classical theory assumes that the collective demand price always accommodates it self to the aggregate supply price. Effective demand, instead of having a unique equilibrium value is an infinite range of values all equally admissible; and the amount of employment is indeterminate except in so far as the marginal disability of labor sets an upper limit. If this were rue, competition between entrepreneurs would always lead to an expansion of employment up to the point at which the supply of output as a whole ceases to be elastic†.Thus Says Law, Keynes contends, â€Å"is equivalent to the proposition that there is no obstacle to full employment†. Since there obviously is some obstacle to full employment, and since the ability to manipulate the real wage level assumed by the classical theory does not actually exist, Keynes rejected that theory and formulated a new concept in which for a given â€Å"propensity to consume† and a given rate of new investment. There will be only one level of employment consistent with equilibrium†.He summarized his new concept in these words: The outline of our theory can be expressed as follows. When employment increases, aggregate real income is increased. The psychology of the community is such that when aggregate real income is increased aggregate consumption is increased, but not by as much as income†¦ Thus, to Justify any given amount of employment there must be an amount of current investment sufficient to absorb the excess of total output over what the community chooses to consume when employment is at the given level.Here, then, we have Keynes' employment theory, as presented by its author, together with his explanation of the principal points of conflict between his ideas and the theoretical outlook shared by most of his predecessors: the â₠¬Å"classical† theory. This classical theory is a wage theory; that is, it is based on supply and demand reasoning applied to the price of labor. Since a lower price, according to the classical ideas, will increase the demand that is, the number of Jobs – there would appear to be no obstacle to full employment if the workers are willing to accept the appropriate wage.But the adherents of this viewpoint are victims of that unquestioning confidence in the universal applicability of the supply and demand principles that so often leads economists to apply these principles to issues which are not supply and demand problems at all. Considerations of supply and demand are not applicable to any situation unless the price is variable, and as Keynes has emphasized, the real wage rate, the true price of labor, is fixed by external factors (the factors that determine the rate of productivity) and cannot be arbitrarily changed.

Profile of Jane Addams, Founder of Hull House

Profile of Jane Addams, Founder of Hull House Humanitarian and social reformer Jane Addams, born into wealth and privilege, devoted herself to improving the lives of those less fortunate. Although she is best remembered for establishing Hull House (a settlement house in Chicago for immigrants and the poor), Addams was also deeply committed to promoting peace, civil rights, and womens right to vote. Addams was a founding member of both the National Association for the Advancement of Colored People and the American Civil Liberties Union. As a recipient of the 1931 Nobel Peace Prize, she was the first American woman to receive that honor. Jane Addams is considered by many a pioneer in the field of modern social work. Dates: September 6, 1860- May 21, 1935 Also Known As: Laura Jane Addams (born as), Saint Jane, Angel of Hull House Childhood in Illinois Laura Jane Addams was born September 6, 1860, in Cedarville, Illinois to Sarah Weber Addams and John Huy Addams. She was the eighth of nine children, four of whom did not survive infancy. Sarah Addams died a week after giving birth to a premature baby (who  also died) in 1863 when Laura Jane- later known just as Jane- was only two years old. Janes father ran a successful mill business, which enabled him to build a large, beautiful home for his family. John Addams was also an Illinois state senator and a close friend of Abraham Lincoln, whose anti-slavery sentiments he shared. Jane learned as an adult that her father had been a conductor on the Underground Railroad and had helped escaped slaves as they made their way to Canada. When Jane was six, the family suffered another loss- her 16-year old sister Martha succumbed to typhoid fever. The following year, John Addams married Anna Haldeman, a widow with two sons. Jane became close to her new stepbrother George, who was only six months younger than her. They attended school together and both planned to go to college one day. College Days Jane Addams had set her sights on Smith College, a prestigious womens school in Massachusetts, with the goal of eventually earning a medical degree. After months of preparing for the difficult entrance exams, 16-year-old Jane learned in July 1877 that shed been accepted at Smith. John Addams, however, had different plans for Jane. After losing his first wife and five of his children, he didnt want his daughter to move so far away from home. Addams insisted that Jane enroll in Rockford Female Seminary, a Presbyterian-based womens school in nearby Rockford, Illinois that her sisters had attended. Jane had no other choice but to obey her father. Rockford Female Seminary schooled its students in both academics and religion in a strict, regimented atmosphere. Jane settled into the routine, becoming a confident writer and public speaker by the time she graduated in 1881. Many of her classmates went on to become missionaries, but Jane Addams believed that she could find a way of serving mankind without promoting Christianity. Although a spiritual person, Jane Addams did not belong to any particular church. Difficult Times for Jane Addams Returning home to her fathers house, Addams felt lost, uncertain about what to do next with her life. Postponing any decision about her future, she chose to accompany her father and stepmother on a trip to Michigan instead. The trip ended in tragedy when John Addams became gravely ill and died suddenly of appendicitis. A grieving Jane Addams, seeking direction in her life, applied to the Womens Medical College of Philadelphia, where she was accepted for the fall of 1881. Addams coped with her loss by immersing herself in her studies at the medical college. Unfortunately, only months after shed begun classes, she developed chronic back pain, caused by the curvature of the spine. Addams had surgery in late 1882 which improved her condition somewhat, but following a lengthy, difficult recovery period, decided that she would not return to school. A Life-Changing Journey Addams next embarked upon a trip abroad, a traditional rite of passage among wealthy young people in the nineteenth century. Accompanied by her stepmother and cousins, Addams sailed to Europe for a two-year tour in 1883. What began as an exploration of the sights and cultures of Europe became, in fact, an eye-opening experience for Addams. Addams was stunned by the poverty she witnessed in the slums of European cities. One episode in particular affected her deeply. The tour bus she was riding stopped on a street in the impoverished East End of London. A group of unwashed, raggedly-dressed people stood in line, waiting to purchase rotten produce that had been discarded by merchants. Addams watched as one man paid for a spoiled cabbage, then gobbled it down neither washed nor cooked. She was horrified that the city would allow its citizens to live in such wretched conditions. Grateful for all of her own blessings, Jane Addams believed it was her duty to help those less fortunate. She had inherited a large sum of money from her father but was not yet sure how she could best put it to use. Jane Addams Finds Her Calling Returning to the U.S. in 1885, Addams and her stepmother spent summers in Cedarville and winters in Baltimore, Maryland, where Addams stepbrother George Haldeman attended medical school. Mrs. Addams expressed her fond hope that Jane and George would marry one day. George did have romantic feelings for Jane, but she didnt return the sentiment. Jane Addams was never known to have had a romantic relationship with any man. While in Baltimore, Addams was expected to attend countless parties and social functions with her stepmother. She detested these obligations, preferring instead to visit the citys charitable institutions, such as shelters and orphanages. Still uncertain of what role she could play, Addams decided to go abroad again, hoping to clear her mind. She traveled to Europe in 1887 with Ellen Gates Starr, a friend from the Rockford Seminary. Eventually, inspiration did come to Addams when she visited Ulm Cathedral in Germany, where she felt a sense of unity. Addams envisioned creating what she called a Cathedral of Humanity, a place where people in need could come not only for help with basic needs but also for cultural enrichment.* Addams traveled to London, where she visited an organization that would serve as a model for her project- Toynbee Hall. Toynbee Hall was a settlement house, where young, educated men lived in a poor community in order to get to know its residents and to learn how best to serve them. Addams proposed that she would open such a center in an American city. Starr agreed to help her. Founding Hull House Jane Addams and Ellen Gates Starr decided upon Chicago as the ideal city for their new venture. Starr had worked as a teacher in Chicago and was familiar with the citys neighborhoods; she also knew several prominent people there. The women moved to Chicago in January 1889 when Addams was 28 years old. Addams family thought her idea was absurd, but she would not be dissuaded. She and Starr set out to find a large house situated in an underprivileged area. After weeks of searching, they found a house in Chicagos 19th Ward that had been built 33 years earlier by businessman Charles Hull. The house had once been surrounded by farmland, but the neighborhood had evolved into an industrial area. Addams and Starr renovated the house and moved in on September 18, 1889. Neighbors were reluctant at first to pay them a visit, suspicious about what the two well-dressed womens motives might be. Visitors, mainly immigrants, began to trickle in, and Addams and Starr quickly learned to set priorities based upon the needs of their clients. It soon became apparent that providing childcare for working parents was a top priority. Assembling a group of well-educated volunteers, Addams and Starr set up a kindergarten class, as well as programs and lectures for both children and adults. They provided other vital services, such as finding jobs for the unemployed, caring for the sick, and supplying food and clothing to the needy. (Pictures of Hull House) Hull House attracted the attention of wealthy Chicagoans, many of whom wanted to help. Addams solicited donations from them, allowing her to build a play area for the children, as well as to add a library, an art gallery, and even a post office. Eventually, Hull House took up an entire block of the neighborhood. Working for Social Reform As Addams and Starr familiarized themselves with the living conditions of the people around them, they recognized the need for real social reform. Well-acquainted with many children who worked more than 60 hours a week, Addams and her volunteers worked to change child labor laws. They provided lawmakers with information they had compiled and spoke at community gatherings. In 1893, the Factory Act, which limited the number of hours a child could work, was passed in Illinois. Other causes championed by Addams and her colleagues included improving conditions in mental hospitals and poorhouses, creating a juvenile court system, and promoting the unionization of working women. Addams also worked to reform employment agencies, many of which used dishonest practices, especially in dealing with vulnerable new immigrants. A state law was passed in 1899 that regulated those agencies. Addams became personally involved with another issue: uncollected garbage on the streets in her neighborhood. The garbage, she argued, attracted vermin and contributed to the spread of disease. In 1895, Addams went to City Hall to protest and came away as the newly-appointed garbage inspector for the 19th Ward. She took her job seriously the only paying position shed ever held. Addams rose at dawn, climbing into her carriage to follow and monitor trash collectors. After her one-year term, Addams was happy to report a reduced death rate in the 19th Ward. Jane Addams: A National Figure By the early twentieth century, Addams had become well-respected as an advocate for the poor. Thanks to the success of Hull House, settlement houses were established in other major American cities. Addams developed a friendship with President Theodore Roosevelt, who was impressed by the changes she had effected in Chicago. The President stopped by to visit her at Hull House whenever he was in town. As one of Americas most admired women, Addams found new opportunities to give speeches and to write about social reform. She shared her knowledge with others in the hope that more of the underprivileged would receive the help they needed. In 1910, when she was fifty years old, Addams published her autobiography, Twenty Years at Hull House. Addams became increasingly involved in more far-reaching causes. An ardent advocate for womens rights, Addams was elected vice-president of the National American Woman Suffrage Association (NAWSA) in 1911 and campaigned actively for womens right to vote. When Theodore Roosevelt ran for re-election as a Progressive Party candidate in 1912, his platform contained many of the social reform policies endorsed by Addams. She supported Roosevelt but disagreed with his decision not to allow African-Americans to be part of the partys convention. Committed to racial equality, Addams had helped found the National Association for the Advancement of Colored People (NAACP) in 1909. Roosevelt went on to lose the election to Woodrow Wilson. World War I A lifelong pacifist, Addams advocated for peace during World War I. She was strongly opposed to the United States entering the war and became involved in two peace organizations: the Womans Peace Party (which she led) and the International Congress of Women. The latter was a worldwide movement with thousands of members who convened to work on strategies for avoiding war. Despite the best efforts of these organizations, the United States entered the war in April 1917. Addams was reviled by many for her anti-war stance. Some saw her as anti-patriotic, even traitorous. After the war, Addams toured Europe with members of the International Congress of Women. The women were horrified by the destruction they witnessed and were especially affected by the many starving children they saw. When Addams and her group suggested that starving German children deserved to be helped as much as any other child, they were accused of sympathizing with the enemy. Addams Receives the Nobel Peace Prize Addams continued to work for world peace, traveling around the world throughout the 1920s as the president of a new organization, the Womens International League for Peace and Freedom (WILPF). Exhausted by the constant travel, Addams developed health problems and suffered a heart attack in 1926, forcing her to resign her leadership role in the WILPF. She completed the second volume of her autobiography, The Second Twenty Years at Hull House, in 1929. During the Great Depression, public sentiment once again favored Jane Addams. She was widely praised for all that she had accomplished and was honored by many institutions. Her greatest honor came in 1931 when Addams was awarded the Nobel Peace Prize for her work to promote peace worldwide. Because of ill health, she was unable to travel to Norway to accept it. Addams donated most of her prize money to the WILPF. Jane Addams died of intestinal cancer on May 21, 1935, only three days after her illness had been discovered during exploratory surgery. She was 74 years old. Thousands attended her funeral, fittingly held at Hull House. The Womens International League for Peace and Freedom is still active today; the Hull House Association was forced to close in January 2012 due to lack of funding. Source Jane Addams described her Cathedral of Humanity in her book Twenty Years at Hull House (Cambridge: Andover-Harvard Theological Library, 1910) 149.

What Every Writer Should Know Before Creating a Prologue

What Every Writer Should Know Before Creating a Prologue Arguably one of the most famous prologues in literature, Charles Dickens opening lines of A Tale of Two Cities is a perfect example of how to write a prologue. It is the most quoted line from the book, and has stood the test of time because it does exactly what it is meant to do- make the reader want to continue reading.It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair†¦Charles DickensFor any writer, creating a Dickens-like prologue is a daunting task. This is especially true for first-time novelists who are unsure of the process of writing a book from start to finish, and what it will entail. Theyll often make the mistake of starting with a prologue- because its fun to start a story that way- without understanding the real purpose of those few pa ges at the beginning of their story.The bad news firstWhen someone gives you the option between hearing good news and bad news, youll likely choose the bad news first, right? So here it is.Literary agents looking to represent another best-selling author generally dont like prologues. One reason is that theyve read a lot of them. Theyve seen it all for a books beginning, especially from authors who take 500 words to describe an approaching storm or use the prologue to do something different or cool, which usually only results in completely confusing the reader. With so many samples of work coming across their desk, they start to recognize tell-tale signs about you as an author- how you pace your story and the tone of your narrator. They ultimately want to represent an author who can sell books, and use simple metrics to help their decision on whether to represent you.Now to conclude the bad news, lets take a step back and ask the question: Do you hope to become a best-selling author and have your work accepted by big publishers? If the answer to that question is yes, then you might want to rethink a prologue entirely in the first place.Take a step back and determine whether your prologue would be strong enough to beat the odds of having your manuscript accepted.Advice from the prosElmore Leonard, bestselling western and crime fiction writer, who has also published tips for writers, suggests to do away with a prologue entirely. Sandwiched in between tips like never open a book with weather and never use a verb other than said to carry dialogue, he suggests that a writer avoid prologues. If avoiding a prologue lands in the Top-10 list of industry-wide standards for best practices, then it obviously is something to consider thoroughly before you begin the querying process to have your book published.Theres a valid reason why literary agents tend to avoid reading prologues when considering authors to represent. For example, Janet Reid is a literary agent at New Lea f Literary and Media in New York City. Her client list includes several New York Times Bestselling authors, and she knows how literary agents think. From a literary agents point of view, a big problem with authors sending in a prologue as a query is the fact that it doesnt give them an opportunity to see the writers true pacing and story-telling style. Prologues often contain vague references or back story, leaving the reader- or in this case, literary agent- with little knowledge about your talent and capabilities as a writer, but a lot of confusion trying to understand a prologue outside of the context of the manuscript as a whole.With multiple manuscripts to read daily, literary agents look for tale-tell signs of poor writing to help speed the process. In many cases, when receiving a query, an agent will skip past the prologue and start immediately on Chapter 1.In addition to that, many literary agencies ask for a query as an introduction to your work. Its standard for agents to request that the author send in a query, with only 3-5 pages of the book as a sample. Since a prologue stands on its own, its a bad introduction to what you can do as a writer. A query is not the full manuscript and its certainly not the finished book, says Reid. Reading at the query stage is often skimming. Its not settling down on the couch with a cat and a cup of java for a nice read of an 800-page novel.Reid also suggest that writers ask themselves an important question before submitting a query containing a prologue. If you leave the prologue out of your query, she writes, will the agent be able to understand Chapter One? If so, leave it out of the query. Remember, you only have 3-5 pages most likely, or not many more, to catch an agents attention.She also advises that if you simply must have a prologue and have faith that it will stand out as extraordinary, remember that the point of the query is to engage the reader. It is up to the writer to determine if the prologue would d o that best, or if Chapter One would be more of a hook. Be very critical in your assessment here, says Reid. If Im only going to read five pages, which ones are they?Reid is not alone in her feelings about prologues. Michelle Andelman of Regal Hoffman and Associates, another New York City-based agency, shares the same opinion. Im not a fan of prologues, she writes, preferring to find myself in the midst of a moving plot on page 1 rather than being kept outside of it, or eased into it. Andrea Brown of Andrea Brown Literary Agency puts it like this: Most agents hate prologues. Just make the first chapter relevant and well written. Laurie McLean of Foreword Literary writes, Prologues are usually a lazy way to give back-story chunks to the reader and can be handled with more finesse throughout the story. Damn the prologue, full speed ahead!Finally, the good newsWith the bad news out of the way, lets focus on the good, especially if your manuscript is already written and you know the pro logue youve included is perfect. Kristin Nelson, President and Founding Literary Agent of Nelson Literary Agency in Denver, has represented over 35 New York Times bestselling titles. She, unlike most in her field, doesnt completely discount the potential of a prologue. However, if youre going to send it out for agents to read, at least avoid some of the most common mistakes writers make in writing their prologue.According to Nelson, there are two definite mistakes to avoid. Ranking at #1 and #2 are writing a prologue for backstory so the real story can begin, or making the prologue too long. Both of those mistakes combined would, in her words, be the death of a manuscript.Another common mistake she has seen often is when writers present a prologue that is in a completely different writing style or voice compared to the rest of the book. A writer might do this for several reasons, perhaps to stand out or be different than the rest. Nelson writes, †¦then when Chapter 1 begins, re aders are left flummoxed- especially if that style or tone of voice is never revisited.As for the perfect prologue, and its place in a novel, Nelson admits that a prologue can be a truly amazing tool for a writer and make a novel more successful. However, she also notes that extraordinarily written prologues are not the norm, and she can count the number she has seen on two hands. These odds might not be ones you want to face in your querying process.What makes an extraordinarily written prologue?If youre still convinced your manuscript needs a prologue and you can avoid the whole thing by not sending it out in queries, here are some best practices to consider as you write it.Make readers want more. As in Dickens A Tale of Two Cities, write a prologue that captures the readers attention so much that they simply cant put the book down until they know the story and its every detail. Thats the kind of hook you need to make a prologue work in an industry that doesnt really take well to prologues in the first place.Use the prologue as the proverbial hook, but dont try to yank the hook forward by starting Chapter 1 in the same way. If youve written a dynamic prologue, slow the action down a bit when writing Chapter 1.Think of the prologue as its own unique part of the book. Instead of writing a snippet or snapshot of action that will take place later in the book, think of it as a short story that can stand on its own. If you do this, youll be more likely to give the prologue the attention it deserves.Dont make it too long. If your prologue is wordy and in any way bores the reader, its a useless device. You want to engage the reader and hook them into reading more, not run them away with a bad first impression.Write it in a voice that continues in the rest of your novel. Many writers make the rookie mistake of writing a prologue that is in the voice of the villain, or worse, a character who doesnt play a significant role in the rest of the story. This is not only con fusing for literary agents taking a small glimpse of your work- its confusing to any reader.Dont use your prologue for a lot of back story. Throwing in back story details is often more effective within the plots progression, and can be difficult for your reader to grasp if there are too many details included.Read a lot of prologues. Look at what other authors have done in writing their prologues. Compare how they use it to set up their story, or hook the reader in to reading more. A prologue doesnt have to be a bad thing if you do it right. The fact that there are many bestsellers on shelves that contain a prologue shows that the device still works. Look at what publishers liked (obviously, by publishing the novel), and dissect how other authors have managed it.

How to Find Stories to Cover in Your Hometown

How to Find Stories to Cover in Your Hometown Are you looking for newsworthy stories to cover but don’t know where to start? Here are some places you can dig up ideas for news articles worth writing about right in your own hometown. Once you’re written your article, see if you can get it published in the local community paper, or put it on your blog. The Police Precinct If you want to cover the local crime beat, visit your local police precinct or station house (it’s good to call ahead first.) If you’re in a small town, get to know the police chief, detective and beat cops if you can. Ask them about any interesting cases or crimes they’ve handled recently, or ask to see the arrest log for a day-by-day listing of incidents. The Courthouse The local courthouse can be a treasure trove of stories. Your local district court will typically be where less-serious cases are dealt with – everything from traffic tickets to misdemeanor offenses – while a superior courthouse will be where felony trials are held. Check with the court clerk’s office to see what cases are due to be heard on any given day. Town Hall The city council, county commission, town board or village committee – whatever you call it, local government can be a rich source of stories for any reporter. Start by finding the website for your local town government. It will probably list times and even agendas for upcoming meetings. See what issues are being discussed, do some background research, then head to the meeting, pen and notebook in hand. The School Board School board meetings can also produce great stories. Again, school districts typically have websites that list school board meeting times and agendas. Such sites will probably list the members of the school board along with contact information, which can be useful for doing pre-meeting research or for doing interviews after the meeting. High School Sports Events Aspiring sportswriters need to look no further than their local high schools for games to cover. Many top sportswriters – those who cover the NFL, NBA, and MKB – got their start covering high school football, basketball and baseball games, among other sports. Check your high school’s website for schedules. Community Centers and Local Libraries Places like these often have bulletin boards listing upcoming events in your area. Such facilities also often host events like lectures from visiting speakers or authors or community forums. Art Galleries and Performing Arts Venues Is there a new exhibit by an up-and-coming artist at your local gallery? Review the exhibit or interview the artist. Is a community theater group performing a new play? Again, write a review or interview the actors or director. Local Colleges Colleges and universities typically host to a wide range of lectures, concerts, and forums that are often free and open to the public. Check the college’s website for listings of such events. Businesses Want to become a business writer? Interview local merchants for their thoughts on the state of the economy. Are their businesses thriving or struggling? Are new shops opening up or closing down on your local Main Street?

Business Ethics Article Example | Topics and Well Written Essays - 250 words - 1

Business Ethics - Article Example This week federal prosecutors arrested two men who were involved in merger and acquisition and secretly informing partners for over 17 years. They had made millions of dollars. 2. Surrounded with such large stakes of money in such big projects, is it possible to blame such individual traders for transferring inside information and getting a fee? Martha Stewart was busted for trading inside information. Trading firms have compliance departments to keep an eye on the patterns of their traders. When people do make a lot of money suddenly they tend to spend it. Is there any argument that could support this kind of behavior? 3. No, this activity is a clear violation of ethics. One can look at Aristotelian ethics which expresses virtue for the individual as a way of obtaining happiness. In this case virtue is acquiring and showing one's best skill in their profession. For agents and brokers in the merger and acquisition business, one of those skills is trustworthiness. To trade on insider information becomes a stark violation of Aristotelian ethics. The violator should go to jail. Jessica Hall, Greed and technology tempt insider trading culprits. Accessed from http://www.reuters.com/article/2011/04/07/us-mergers-summit-insidertrading-bankers-idUSTRE7360BT20110407

Music Copyright Laws Research Paper Example | Topics and Well Written Essays - 1250 words

Music Copyright Laws - Research Paper Example Many musicians write their own music. The music that is written is then transformed into a song. The song that is created is owned by the artist that created the song. ( Bouvier) Since the artist owns the song, the artist can determine who can hear it and produce it. This is like anything that someone owns. If something is owned by someone, they can decide whether or not to share it. It should never be up to someone who is not the owner to share the item. A copyright â€Å"is an exclusive control of a book, picture, etc.† (Dicionary2010) This control is enforced by a law. This law is known as a music copyright law. A music copyright law can protect the creator of the music. In 1976, a copyright act was put into effect to protect the composer of the music. (Standler2008-2009) The composer is given full rights to his or her music. This type of music copyright applies to copyrights for sheet music. There are different types of copyrights for music such as sound recording. Any typ e of work, even if the work is not music, needs to be copyrighted to help ensure proper ownership and proper usage of the work. It is important that each of the music copyright laws is in affect to help protect the owner of the music. The music copyright law can be located under title number 17 in the United States Code. The title is issued by the United States Copyright Office. ... There are five very specific things that one shall never do when a piece of music is under copyright. Music that is under copyright should never be reproduced of its music or any of its lyrics. The music’s or the lyrics can’t be sold for any amount of money even if it’s free. The music can’t be performed by another artist in a public setting. The music is not even allowed to be played in public even if the one playing the music owns a copy of the music. Finally, the music can’t be made for a public use in any form. These strict guidelines are important for protecting music. All types of copyrights are issued throughout the Unites States. No copyrights can be issued unless they are issue by the United States copyright office. This office allows those seeking a copyright to access the necessary help. The copyright office is important for those wanting to obtain a copyright for music. The copyright office started in 1870. (Unites States Copyright Offic e 2010) The start of the copyright office was a huge step for those with a creative mind. Before the copyright office, work could be stolen. Works stolen could be used by the wrong person and the wrong person would receive credit for the work. Stealing ones music is not just about stealing the music and making money. Stealing and using the music unlawfully takes credit away from the artist that rightfully deserves the credit. It was important for the copyright office to allow individuals a place where there music could be made their own. An example of how a copyright office is used by a musician is simple. A musician can bring a piece of work to the United States Copyright Office. At the office, the musician can register the music and apply for a copyright. The copyright is then kept in the office library

Homeland Security for the Port of Baltimore Essay

Homeland Security for the Port of Baltimore - Essay Example With so much at stake, it is no doubt crucial to consider all possible threats a place like Port Baltimore may be vulnerable to and be prepared with measures to ensure the safety of the city, the people involved, the property and the security of the whole country. Ports are crucial for both, the security of a country and its trade and economy, as they serve as terminals with access across its boundaries. This opens possibilities for infiltration of illegal activities and products along with the usual trade. Thus ports pose a great threat of certain hazards or sources of possible disaster to the city and the country if left improvised. Of the many threats that enable U.S agencies to take effective measures for the protection of the country’s resources and vulnerable assets, the threat of terrorism has the greatest power, especially in the post 9/11 era. The possibilities of terrorist attacks via shipping ports are innumerable. With only six percent of the nine million container s entering the U.S, (Medalia 2) and fourteen percent of the 140,000 containers at Baltimore being examined for explosives, (Davis and GormanSun), it is evident that these portals to the United States are pretty much available to terrorists wanting to strike. It would be fairly easy to hide explosives in the eight to nine feet high and twenty to forty feet long containers that are used to carry the cargo transported between ports. (Medalia 2) Apart from being easy and susceptible targets, they are also fairly attractive in terms of results for such terrorist groups as well. With inflammable material that can cause a minor explosion to spread over miles, even a ten to twenty kiloton bomb could cause a loss of more than $1.2 trillion from direct and indirect costs resulting from the damage of property and disruption of trade activity. (Medalia 2). The destruction could extend to a radius of one or two miles, thus affecting the city the port is in, resulting in a comprehensive disaster. (Medalia 3). Another equally hazardous threat to the U.S port is Drug smuggling, which was the number one priority before September 11, 2001. The failure in the prohibition of drugs infiltrating the country may result in indirect facilitation of terrorist activities and a larger impact on the society by fuelling crime and disease. (Loy 156). According to statistics provided by Interagency Assessment of Cocaine Movement, most of the transportation of illegal drugs is carried out through the sea. (Loy 157) The third effective threat to U.S coasts and ports is the possibility of damage and injury caused by the mishandling of hazardous materials that have the ability to contaminate and destroy not only cargo and property, but marine life and the environment. All this can inadvertently affect the economy by interference in trade and recreation activities around the water front as well as health of the citizens of the port city. Provided that the forces threatening the security of port t oday are much better equipped than they were a decade ago, it is necessary to maintain the efficiency of security systems in the context of developing technology and update methodologies to keep up with the unpredictable and surreptitious approach of the possible enemies of the state. (Pike) Coast guard and customs and Border protection are federal agencies with the strongest presence in seaports. After 9/11 coast guard has created the largest port

Sports and Entertainment Law Term Paper Example | Topics and Well Written Essays - 2000 words

Sports and Entertainment Law - Term Paper Example In the sports and entertainment industry there are numerous personalities who have gained international fame and therefore, any news on them is likely to receive wide viewership all across the world. Besides, the traditional journalists, the news or stories about famous personalities in the sports and entertainment industry is able to reach the mainstream media through paparazzi whom according to O’Shaughnessy, are photographers who take pictures of famous without their approval as they conduct themselves in their normal life (36). The approach with which paparazzi conduct their work has been the subject of many debates in regards to invasion of privacy by the paparazzi and the fact there is freedom of speech and right to free press that protects paparazzi. This present term paper intends to explore the issue of invasion of privacy by the paparazzi and in particular, it will discuss this issue in relation to Tiger Woods’ experience with paparazzi. ... highly unregulated and therefore, they would do anything to get a picture that will sell highly in the market including invading the privacy of individuals. Nordhaus stated that the term ‘paparazzi’ was coined from the surname of a photographer in a 1959 film produced by Federico Fellini called La Dolce Vita. However, there are various connotations that are linked with the term include persistent and annoying photographers who the nature of their work requires them to stalk famous people and go to any extent as long as they get a perfect picture (284). Nordhaus further added that paparazzi mainly target individuals who fascinate the public and the driving force for the paparazzi is the public obsession about these particular individuals, which encourages them to do their invasive acts (284). The paparazzi have received wide criticism more so in situation whereby their invasive acts cause harm or threat of harm as they go about taking photos and videos of celebrities. In such situations, paparazzi are regarded as nuisance and this has led to some countries more so in Europe to restrict the activities of paparazzi by enacting policies and curfews that restrict the invasion by the paparazzi. Nordhaus in his writings stated that the paparazzi have been accused of striping celebrities off their right to privacy. Moreover, the paparazzi were widely criticized after the death of Princess Diana since her death was partly caused by paparazzi that were chasing her; thereby contributing to a car accident that caused her death. Additionally, there have been numerous case filed against paparazzi and among the first such cases was in 1972 whereby Jacqueline Kennedy who was a First Lady of the United States sued paparazzi Ron Galella for harassment with his photo taking

E Ink Case Study Example | Topics and Well Written Essays - 750 words

E Ink - Case Study Example The company was receiving lots of feedback from potential investors and customers who had different views of the best use for electronic ink. The company had to decide the best opportunities for the company based on the company’s vision. The company wanted to create radio paper, but the technology was not ready for that application. The firm had multiple opportunities to generate money using the technology for other applications. Another dilemma the company had was the fact that it needed more money to continue its venture. The firm needed an additional $20 million for its second round of financing. There was plenty of interest from venture capitalist interested in investing in the company. The firm had to decide how to obtain the money and which investors to choose. The strategy the firm ends up choosing would affect the capital structure of the enterprise. Selling off too much equity could relinquish control of the company. On the other hand using debt instruments could plac e the company at risk since the firm was not generating any revenues yet. 2. The three stage approach that E Ink has plan is a very sound business strategy. The company has to take advantage of the firm’s capabilities to generate revenues. The firm cannot afford to wait 4 to 5 years for the radio paper to be ready. The first stage of the plan is to use the electronic ink to make large area displays. The marketplace for this product is huge due to the fact that there are thousands of businesses that can benefit from the application of electronic ink for its advertising displays. The company could afford to launch this product after it receives its second round of financing. The firm needs between $10 million to $20 million dollars to launch the product. The company already has a contract with JC Penney to develop its first large area displays. The product offers many advantages to customers such as lower costs and the ability to change advertising messages without having to in cur in the cost of manually changing the sign. The second stage of E Ink’s plan is to utilize the technology for flat panel displays. By 2004 the flat panel market was supposed to reach $25.9 billion. The relevant market in which E Ink could apply its invention was between $4.9 billion to $6.9 billion. The use of electronic ink enables companies that use flat panel displays to add value to its products which would allow the firms to sell their products at a premium price. The application of electronic ink would provide greater visual appeal and lower power consumption. The company needs between $30 million to $50 million to finance this phase. The third phase of the project is radio paper. Radio paper would enable the company to create newspapers and books using the electronic ink technology. The use of the technology would revolutionize the publishing industry. The use of the technology could be extremely advantageous for publishers because it could create a paper free distr ibution model. The company could be ready to create electronic books in two to three years and newspapers in four to five years. The amount of money needed to finance phase three is between $50 million to $100 million. 3. The company needs to raise money in order to finance its phase I of the project. The firm is currently spending over $500,000 a month and it soon will increase its expenses to nearly $1 million a month. The company estimates that it needs $10 to $20 million to accomplish phase I. My

Sports and Entertainment Law Term Paper Example | Topics and Well Written Essays - 2000 words

Sports and Entertainment Law - Term Paper Example In the sports and entertainment industry there are numerous personalities who have gained international fame and therefore, any news on them is likely to receive wide viewership all across the world. Besides, the traditional journalists, the news or stories about famous personalities in the sports and entertainment industry is able to reach the mainstream media through paparazzi whom according to O’Shaughnessy, are photographers who take pictures of famous without their approval as they conduct themselves in their normal life (36). The approach with which paparazzi conduct their work has been the subject of many debates in regards to invasion of privacy by the paparazzi and the fact there is freedom of speech and right to free press that protects paparazzi. This present term paper intends to explore the issue of invasion of privacy by the paparazzi and in particular, it will discuss this issue in relation to Tiger Woods’ experience with paparazzi. ... highly unregulated and therefore, they would do anything to get a picture that will sell highly in the market including invading the privacy of individuals. Nordhaus stated that the term ‘paparazzi’ was coined from the surname of a photographer in a 1959 film produced by Federico Fellini called La Dolce Vita. However, there are various connotations that are linked with the term include persistent and annoying photographers who the nature of their work requires them to stalk famous people and go to any extent as long as they get a perfect picture (284). Nordhaus further added that paparazzi mainly target individuals who fascinate the public and the driving force for the paparazzi is the public obsession about these particular individuals, which encourages them to do their invasive acts (284). The paparazzi have received wide criticism more so in situation whereby their invasive acts cause harm or threat of harm as they go about taking photos and videos of celebrities. In such situations, paparazzi are regarded as nuisance and this has led to some countries more so in Europe to restrict the activities of paparazzi by enacting policies and curfews that restrict the invasion by the paparazzi. Nordhaus in his writings stated that the paparazzi have been accused of striping celebrities off their right to privacy. Moreover, the paparazzi were widely criticized after the death of Princess Diana since her death was partly caused by paparazzi that were chasing her; thereby contributing to a car accident that caused her death. Additionally, there have been numerous case filed against paparazzi and among the first such cases was in 1972 whereby Jacqueline Kennedy who was a First Lady of the United States sued paparazzi Ron Galella for harassment with his photo taking

Summary paper on book 1 free choice of the will by Augustine of hippo Essay

Summary paper on book 1 free choice of the will by Augustine of hippo - Essay Example On the other hand, those who do evil and sin but are God’s chosen, are not going to be punished because they still remain saved, regardless of their behavior. Augustine persists that wrongdoing is a substance of free will at its cause, where he sounds sensible and is the least uncertain. He further stresses this by detaching wrongdoing from God’s cause. All what is God-made is good according to Augustine, and for that reason, he says god cannot be the cause of evil. He argues that evil is committed in the act of free will of humanity, and adds that it can also be in free will of angles, but not God. On the other hand, his persistence about Gods actions of good will being by God’s grace seems to disagree with his own affirmation on choice of free will. While God should not be the one to blame for wrong doing, God is given all the praise and glory for good, despite the bad deeds committed by those who have done things according to the good will. Therefore, people should be blamed for the bad things they do and cause, but do not deserve any recognition for whatever good they do. According to Augustine, people’s capability to operate according to their own free will has been seriously weakened by the obsession and desires. They lack the strength to control their needs, so they are controlled and driven by lust. Augustine believes that lust is one of the biggest sin of all and that it troubles very many people, who end up giving in to it readily and gladly. This is proof of the weakness of free will. Where Augustine makes outstanding points on the way flesh desires directly disagreeing with the spirit, the way he argues that we behave in good manner by God’s grace is in direct disagreement with his persistence that evil is a deed of free will. If we are made good by God, then why cannot the devil be the cause to sin, when we act badly? As Augustine insists that we as human beings have free will, it means we are responsible for the bad

Critical response - Of mice and men Essay Example for Free

Critical response Of mice and men Essay Within The novel Of Mice and Men by John Steinbeck the reader is presented with a selection of sad, lonely individuals who have no families. As soon as the novel starts, the author creates a picture of the surroundings in the readers mind the river drops in close to the hillside bank and runs deep and green this gives the reader a feeling of peace at mind. The reader is then presented with George, a small man with strong features, and Lennie, a gentle person who enjoys who enjoys the company of a pet. In the novel Lennie continuously gets the pair into all sorts of trouble and by the end of the novel George has no choice but to shoot Lennie, due to the fact that he murdered an innocent woman, who happened to be Curleys wife, the bosss son. It soon becomes apparent that the theme of loneliness is illustrated through characterization between the main characters. The first character we are introduced to is Lennie. Lennies character is illustrated by his mental immaturity. Blubberin like a baby? Jesus Christ a big guy like you! The reader first sees that Lennies loneliness and need for companionship during his journey to the ranch. What you want of a dead mouse? , to which Lennie responds maybe I could pet it with my thumb while we walked along. Lennie wants to carry a dead mouse round as a constant companion. This shows how desperate he is to feel loved and to have a friend. One of the characters that illustrates loneliness is a man named Crooks. Crooks is a colored man s been isolated from the rest of the ranch due to the fact that he is a nigger. The reader feels sympathy for crooks because he has his own shelter and has no friends. As soon as a white man enters his shelter, Crooks initial reaction is to tell them to get lost I dont want to know. This again shows the reader that Crooks is a lonely individual. Another character that emphasizes the theme of loneliness is Curleys wife. To the readers surprise, the author never gives Curleys wife a name. This reinforces the fact that Curleys wife is there to look after Curley and that she is not important to anybody else but himself. It also shows that the other ranchers are not used to talking to other woman. Curleys Wife is generally considered to be a tramp by the men at the ranch and shamelessly uses sex to intimidate the workers. She married Curley so she could leave home and be spoilt with gifts and do whatever she wanted. However it is obvious that this did not happen and she hates her husband. . She still holds some hope of a better life, by claiming that she had the chance to become a movie star in Hollywood. Another interesting character is Candy, an old man who only has a dog to keep him company. Candy is the oldest out of all the other ranchers, who has only one hand because he lost the other hand in an accident on the ranch. Candy is a frail person because he has had to work on the ranch for so long because he has no friends. There comes a sad point in the novel when candys dog is shot because he is giving off a bad odour. This shows the readers that the ranchers dont care for anyone else but themselves and that they have a short temper. This incident seems to put Candy down more because he now has no companion. In addition to this, Candy feared that he was going to be on the ranch until he died. This image is reinforced when he ws caught ease dropping on George and Lennie I didnt here nothin you guys was saying. I was just standing in the shade scratching my dog. Although the novel is filled with men trying to earn money so that they can fulfill their dreams, it is obvious that the main theme of the novel is loneliness. This is illustrated through the sad, traumatic, lonely characters that work on the ranch. The entire novel is devoted to reinforcing the main theme, loneliness, and therefore creating sympathy for the characters on the ranch.

Impact of Inflation and Real Wages on Labor Productivity

Impact of Inflation and Real Wages on Labor Productivity 1.1 Overview The study attempts to determine the relationship between inflation, real wages and labor productivity. Inflation is an increase in the average level of prices of goods and services in an economy over a period of time, not a change in any specific price. When the general price level rises; each unit of currency buys fewer goods and services. Output is the amount of goods and services by a firm, industry, or country. For output variable the index of value added is used. Nominal wages are the Average Annual Earning in Perennial Industries. Real wages are the wages that have been adjusted for inflation. Real wages are obtained by deflating the nominal wage index by the consumer price index (CPI). 1.2 Problem Statement The objective of the study is to find out the impact of Inflation Real wages on Labor Productivity. 1.3 Hypotheses H1. There is an Impact of Inflation on Labor productivity H2. There is an Impact of time on Labor productivity H3. There is an Impact of Real wages on Labor productivity H4. There is an Impact of time on Real wages. 1.4 Outline of the study The scope of this research was to find out the impact of inflation and real wage on labor productivity. The data was collected from state bank of Pakistan and through various websites. CHAPTER 2: LITERATURE REWIEW Malik and Ahmed, (2001) studied that Information on income levels was essential in evaluating the living standards and conditions of work and life of the employees. Since nominal income failed to explain the purchasing power of employees, real income was considered as a major indicator of employees purchasing power and was used as proxy for employees level of income. Any variation in the real wage rate had a significant impact on poverty and the distribution of income. When used in relation with other economic variables, for instance employment or output they were valuable indicators in the analysis of business cycles. The aim of the adjustment program was to increase national income or output in such a way that it resulted in fair distribution of wealth. That was, the two objectives of enhanced growth and reduced poverty were being followed through more efficient use of resources and policy instruments like exchange rates adjustment, monetary and fiscal policies, and banking sector reforms to improve cash-flow position (Irfan, 2008). The relationship between real wages and output was intricate and also inconclusive. Regardless of the truth, which method of estimation was used or which deflator was used for the real earnings the results remained the same. Only different time periods (for the manufacturing sector) have changed the cyclical nature of the real earnings. For the manufacturing sector the real earnings had turned out to be counter-cyclical. While for agriculture, transport and communication, construction and the overall economy real earnings is pro-cyclical, i.e., real earnings tend to increase with economic growth and increases in real earnings rate tend to reduce poverty. Its the other way round in the manufacturing sector. Its important to mention here that the measure of nominal earnings used for manufacturing was different from the measure used for other sectors and the overall economy (Irfan, 2008). Productivity was the fundamental determinant of distinction in living standards, often measured as GDP per capita, across countries and across regions within a country. Over a longer term, productivity growth was the only way to sustain improvements in living standards or quality of life (Krugman 1994). It provided the economic base for investment in education, environmental improvement, health, infrastructure, poverty reduction, and social security. In addition, it was a key determinant of international competitiveness. Given its importance, improving productivity had become an essential national agenda for many countries. That had led to an emphasis on understanding factors that lead to higher, or lower, productivity growth in both research and strategy (Tang and Wang, 2004). Individual industrial contributions to cumulative labor productivity increase, which often requires decomposing cumulative labor productivity increase into industrial components. When real output was additive, that is, the cumulative real output was equal to the sum of the real outputs of its industries, the decomposition was straight forward. The only problem was that the decomposition was susceptible to the choice of base year. In other words, an industrial contribution calculated based on base year t was different from that based on base year s. That takes places because output prices change over time at different paces across industries. (Tang and Wang, 2004) It was usually expected that industries with high productivity growth and thus declining real output prices attract demand and accordingly increase employment shares. Why do the observed facts in the two countries run against this expectation? One possible explanation was that income effects had reduced the demand for manufactures, which broadly speaking became a satisfied market whereas the expansion, especially of personal service, suffered from rising relative prices (ten Raa and Schettkat, 2001). Another possible explanation was that increased female labor force contribution resulted in a substitution of market purchased served for home produced services (Grubel and Walker, 1989). An industrys input from an increase in relative size to aggregate labor productivity growth could be wellbeing improving or reducing, depending on its causes. For example, if an increase in the real output price of an industry hence an increase in its relative size was caused by an increase in demand for the output of the industry (an upward shift in the output demand curve), then it was wellbeing enhancing, because it increased both consumer and producer surpluses. On the other hand, if an increase in real output price was caused by a decrease in output supply (e.g., due to a natural disaster) or an upward move in the output supply curve (e.g., due to an increase in production costs from events such as real earnings increases), then it was wellbeing reducing, because it reduces both consumer and producer surpluses. Thus, from a wellbeing perspective, failure to report for the causes of change in relative size could create a confusing perception of an industrys contribution to aggreg ate labor productivity (Tang and Wang, 2004). Taylor (1990) found that the value of productivity in an open economy was distributed among at least three parties: Profit recipients, workers and the rest of the world. There are two key nominal prices: the exchange rate, which is established by policy, and the money wage, which follows from institutional considerations. A change in one with the other constant is bound to have effects on distribution and productivity, by changing the profit share, the real wage or the real exchange rate. In an open economy in which non-competitive intermediate imports were an important component of cost, currency devaluation derived up prices and reduced the real earnings. Output reduction could easily follow if exports were not strongly elastic to exchange rate changes. When devaluation is contractionary, then money earnings increases make output to go up. Under such circumstances, a successful tight money policy that derived down nominal earnings to ratify the equation of exchange reduced output and improved the trade account. The reduction had been offset by fiscal growth, but in an orthodox stabilization attempt that has been a strange move. (Taylor, 1990) Prices did not rise before the earnings demands had been made and accepted: in a large segment of a modern economy prices were administered ones. Thus in these segments excess of demand evident itself in deficiency rather than in a rise of prices, as the over riding objective of maximizing profits over time (and the fear of price wars) keep oligopolistic competitors from meeting excess demand by increasing prices to the short-run maximum. Thus there were always un-liquidated monopoly increases which permit earnings increases (and which would be taken once a general increase of costs reduces the inhibition against raising prices (Balogh, 1958). A detailed analysis of production, productivity, earnings and prices, both in domestic and in international dealings, irresistibly and increasingly leads away from the explanation of the continuous raise in current prices here and somewhere else by the excess of money demand, and in particular by the raise in the volume of money. Separately no entrepreneur could grant wage increases as it was difficult to bypass the addition to costs by increasing prices. But if all (or most) entrepreneurs were faced with almost the same wage demands, and react to them in more or less with the same manner, experience has taught that it was safe to agree to those demands: it was the increase in income due to the wage bargain (including of course the increased profit) that provided the additional demand required to sell output at the improved price. There was no need to hypothesize a hidden, unspent or dormant, excess demand which became active. The myth of those who were looking for the unseen and unseen able was that all applied the ceteris paribus (With all other factors or things remaining the same) method to a situation where it was changed by itself because it was of a limited and not of a minute magnitude. Provided that the process was general, as it was, and repetitive, as it was bound to be, if single earnings good dea l overshoot the average, as they were bound to do, there was nothing to stop it from speeding up its velocity as anticipations of further earnings and prices increased enlarge speculation (Balogh, 1958). CHAPTER 3: RESEARCH METHODS 3.1 Data Collection The data was collected from state bank library and searched through various internet search engines e.g. jstor and Google scholar for articles, index mundi and UN website. 3.2 Sampling Technique Convenience sampling was used as data was not collected from the companies but it was collected from state bank of Pakistan. 3.3 Sample Size: 30 annual observations of real wages, inflation and labor productivity are taken for this study. 3.4 Research Model The following research model was used Labor productivity = ÃŽÂ ± + ÃŽÂ ² (real wage) LP= -1.472E12+3.3909E11RW 3.5 Statistical Technique Regression analysis was applied. CHAPTER 4: RESULTS ANALYSIS 4.1 FINDINGS AND INTERPRETATIONS H1. There is an Impact of Inflation on Labor productivity. Table 4.1 ANOVA Sum of Squares Df Mean Square F Regression 6.022E21 1 6.022E21 .001 Residual 2.623E26 27 9.713E24 Total 2.623E26 28 The independent variable is CPI inflation. Impact of inflation on labour productivity is studied through curve estimation. As data was not normal, linear, ln , exponentiate , inverse transformation was applied. Significant relationship was not found even after applying transformation as it is evident by the sig value of .98 which is greater thatn .05. H2. There is an Impact of time on Labor productivity Table 4.2 Model Summary R R Square Adjusted R Square .998 .995 .995 The independent variable is YEAR. Table 4.3 ANOVA Sum of Squares Df Mean Square F Regression 81.851 1 81.851 7528.575 Residual .391 36 .011 Total 82.242 37 The independent variable is YEAR. Table 4.4 Coefficients Unstandardized Coefficients Standardized Coefficients t B Std. Error Beta YEAR .134 .002 .998 86.767 (Constant) 2.282E-104 .000 . The dependent variable is ln(All Industries output). There is a positive impact of time on labour productivity. Sig value is less than .05 therefore it is significant. It means there is an Impact of time on labour productivity. Its constant value is H3. There is an Impact of Real wages on Labor productivity. Table 4.5 Model Summary R R Square Adjusted R Square .862 .743 .732 The independent variable is realwage. Table 4.6 ANOVA Sum of Squares Df Mean Square F Regression 7.068E25 1 7.068E25 69.357 Residual 2.446E25 24 1.019E24 Total 9.513E25 25 The independent variable is realwage. Table 4.7 Coefficients Unstandardized Coefficients Standardized Coefficients T B Std. Error Beta ln(realwage) 3.909E11 4.694E10 .862 8.328 (Constant) -1.472E12 4.929E11 -2.986 LP= -1.472E12+3.3909E11lnRW As its sig value is H4. There is an Impact of time on Real wages. Table 4.8 Model Summary R R Square Adjusted R Square .728 .529 .510 The independent variable is YEAR. Table 4.9 ANOVA Sum of Squares Df Mean Square F Regression 244.833 1 244.833 26.998 Residual 217.648 24 9.069 Total 462.481 25 The independent variable is YEAR. Table 4.10 Coefficients Unstandardized Coefficients Standardized Coefficients t B Std. Error Beta YEAR .409 .079 .728 5.196 (Constant) -805.624 156.901 -5.135 Sig value is less than .05 therefore it is significant. It means there is an Impact of time on Real wages. Its F value is 26.99. Its Adjusted R Square is .510 4.2 HYPOTHESES TESTING After applying the statistical test and based on the p (sig.) values, researcher has obtained all the tables and results have been provided in the following table three hypotheses were accepted and one hypothesis was rejected. 4.2.1 ACCEPTED HYPOTHESES H2, H3 H4 is the accepted hypotheses. 4.3 HYPOTHESIS ASSESSMENT SUMMARY Table 4.11 Hypothesis R Square F Significance Value Empirical Conclusion H1: There is an Impact of Inflation on Labor productivity .001 .98 Rejected H2: There is an Impact of time on Labor productivity .995 7528.57 .000 Accepted H3: There is an Impact of Real wages on Labor productivity .743 69.357 .000 Accepted H4: There is an Impact of time on Real wages. .529 26.998 .000 Accepted CHAPTER: 5 DISCUSSIONS, IMPLICATIONS, FUTURE RESEARCH AND CONCLUSIONS This study empirically tested the relationship of inflation, real wage and labor productivity Inflation and real wage were the measures which are the predictors of Labor productivity. Initial estimation was that there is an impact of inflation on labor productivity, there is an impact of time on labor productivity, there is an impact of real wages on labor productivity and there is an impact of time on real wages. Jarret and Selody (1982) had considered that inflation and productivity growth are negatively related. Inflation diminished the incentive to work, distorted the informational content of relative price levels, and contracted tax reductions for depreciation. Studies suggested there was a negative relationship between inflation and productivity. It was assumed that there is a positive relationship between real wages and productivity because higher real wages increased the opportunity cost of job loss and stimulated greater work effort to avoid job loss. That positive relationship was also assumed because higher real wages put upward pressure on labour costs and cause firms substituted capital for labour, thus increasing the marginal productivity of labour (Wakeford, 2004). The results supported the conclusion that inflation has no effect on the labor productivity as its analysis showed it is not significant after applying regression analysis. Real wage have significant impact on labor productivity and real wage have positive relationship with labor productivity. Its results showed that relationship between Real wages and labor productivity is significant and 74% of variation (table 4.5) in labor productivity was explained by Real wages. Where as time has a positive relationship with real wage as well as with labor productivity. Further research should be carried out to study the relationship of inflation and labor productivity in the future as other variables (which could have relationship with inflation) are not included in this research.