History The American Revolution Essay - 1435 Words

History never teaches fatalism. There comes a moment when the will of a handful of a Freeman breaks through the determination and opens up the roads. Human history has always been filled with individual liberty ideas. Liberty is known to be the idea that is firmly held by men in their hearts, as they were willing to fight or even die for it. It was an ecstatic feeling when they finally achieved it. The people had an idea of a constitutional freedom and the moral quality, which was strongly held in the people’s hearts in America, and it consequently spread to other countries in the world. It is believed that American Revolution was the most important chapter in human history just because it was their action that made the ideals of liberty, equality, and justice to materialize. The American Revolution had a very big significance worldwide as it changed the world not by removing and altering of power in any of the states but by the appearance of the new state, new species, in the new globe. It inspired liberty worldwide, and this was treasured by all humankind even today. Benjamin Franklin and otherwise men digested the idea of Locke and Montesquieu, which brought forth the enlightenment. Their actions changed the way history was flowing, and it was from then that the American people made the world what it is today. It is believed that without this revolution, the world could have witnessed the rise of the pioneering liberal country. Through that, it could be seemingly aShow MoreRelatedHistory : The American Revolution1442 Words   |  6 PagesHistory never teaches fatalism. There comes a moment when the will of a handful of a Freeman breaks through the determination and opens up the roads. Human history has always been filled with individual liberty ideas. Liberty is known to be the idea that is firmly held by men in their hearts, as they were willing to fight or even die for it. It was an ecstatic feeling when they finally achieved it. The people had an idea of a constitutional freedom and the moral quality, which was strongly held inRead MoreThe A merican Revolution And American History953 Words   |  4 PagesIn the year 1765 the American colonists in the thirteen colonists had an upheaval with Great Britain. The colonists were tired of British Parliament’s rules and taxes that Parliament was placing on imported goods; such as tea. Historians believe that the beginning point in American History really started with the American Revolution. Britain was trying to force their culture onto the colonists. However, the colonist wanted no part in changing their whole cultural background that they created to theRead MoreThe American Revolution And American History Essay1376 Words   |  6 Pages The American Revolution was an important moment in American history. The revolution shed new light on how people could live and how a nation could be governed. Looking back, one might think that the British saw the American colonists as a group of people easy to conquer. In the time period of the American Revolution, women were seen more as property rather than active participants in war, but women played a large part in the war. In the end, the American Revolution transformed the United StatesRead MoreAmerican History : The American Revolution1484 Words   |  6 PagesPhuong Dung Ngo History 101 Assignment A 09/17/2014 The American in 1606 History is important because it has always encouraged everyone to think creatively about their nation’s history and take them back to the past in order to learn. The American Revolution (1775-1783) is one of the most famous events in American history. Why did it happen and how did it happen? There are many reasons to explain the colonial feelings leading up to the American Revolution. When the thirteen colonies were foundedRead MoreThe American Revolution And Its Effect On American History1537 Words   |  7 PagesThe American Revolution began in 1775. Due to the Revolution 1775 proved to be one of the most productive years in American history. The American Revolution caused great changes in the original thirteen colonies that helped mold the United States into what it is today. The revolution caused changes in the original colonies’ economics, caused immense changes in slavery, and changed the society of the colonies in general. As a result of the French and Indian war Britain neglected the American coloniesRead MoreAmerican History: A Revolution in the Colonies1900 Words   |  8 PagesRevolution in the Colonies The revolution was more about the political freedom than economic issues. This was a political turmoil that took place between 1775 to 1783; 13 British colonies joined together to liberate themselves from the British Empire and unite to from the United States of America (American Revolutionary War, 2011). It began with the rejection of the Parliament of the Great Britain, which lacked their representation, as governing body from overseas, then followed sending away allRead MoreThe American Revolution : A Significant Part Of American History1399 Words   |  6 Pages The American Revolution is a very significant part of American History. It is more than just a course for credit. After all, it is the reason behind the birth of this great nation. The American Revolution took place between 1765 and 1783 during which the colonists in the thirteen American colonies rejected the British monarchy and aristocracy, overthrew the authority of Great Britain and founded the the United States of America. By 1763 the crisis had begun to develop. John Adams was right whenRead MoreThe American Revolution : A Major Part Of American History1306 Words   |  6 PagesPhillip Hansen Mrs. Blomme Honors 1 2 October 2014 The American Revolution The American Revolution is greatly known around the United States and was a major part of American History. It was at the time when Britain was in charge of thenewly found colonies, but these colonists were not happy, since Britain is across the Ocean. After too much power being brought from the King to the Colonies, the colonists decided to rebel. The colonists had the intention of causing a rebellion against the BritishRead MoreImpact Of The Market Revolution On American History1460 Words   |  6 PagesThe Market Revolution was the most fundamental change in American history all because of three very important developments. These developments consisted of transportation, commercialization and industrialization. Transportation developed many more ways to get around by roads, canals, steamboats and even railroads. Commercialization began to replace household self-sufficiency with goods that were starting to be produced for a cash market. Industrialization was life changing for all of goods that wereRead MoreThe Haitian Revolution And Latin American History1278 Words   |  6 Pages The Haitian Revolution was one of the most important slave revolts in Latin American history. It started a succession of other revolutionary wars in Latin America and ended both colonialism and imperialism in the Americas. The Haitian Revolution affected people from all social castes in Haiti including the indigenous natives, mestizos, mulattos and the Afro-Latin. The idea of starting a rebellion against France began with the colony’s white elite class seeking a capitalist market. These elites in

The Perfect and the Innocent Catcher in the Rye by J.D....

Perfection is a house on it’s own, but innocence is the landscape around it. The author of Catcher in the Rye, J.D. Salinger, tells an interesting story about a boy who has avoided his home after getting kicked out his fourth school. This boy, Holden Caulfield, loves perfection and innocence. Holden is a strange character, he makes a snowball, but can’t throw it, imagines the museum as a perfect place because things don’t change, daydreams about his childhood sweetheart constantly, and after seeing â€Å"F† you written on the walls of the school, Holden tries to erase every one of them. Life for Holden is sad and uplifting at the same time, but he has to face the fact that he is growing up and can’t be the protector of children. Holden†¦show more content†¦Holden has to drop the snowball before entering on the bus, because â€Å"people never believe you† (Salinger 37). This shows that people are not perfect and it has impacted every soul on the Earth. The tone is disgusted as Holden think about all of the people who are imperfect. That’s just about every single one of them. Unlike nature, humans don’t run on a perfect schedule and can adjust things in what ever way they want. This has been the case throughout history, this is why Holden likes the museum so, much. Holden hates how people are always making mistakes and ruining the idea of perfection, but he loves the fact that everything in the museum will stay the same forever, especially the Indians. The thing about the place that Holden adores so much, is â€Å"you could go there a hundred thousand times, and that Eskimo will still be just finished cathing those two fish† (Salinger 121). Those two fish will never change, it gives off a powerful sensation that everything is trapped in a glass case of time and you are the only one that is outside and able to change. In fact, Holden says, â€Å" The only thing that would be different is you. Not that you’d be much older or anything. It wouldn’t be like that exactly. You’d just be different, that’s all. You’d have an overcoat on this time. Or that kid that was your partner in line the last time had got scarlet fever and you’d have aShow MoreRelatedJ.b. Salinger s A Perfect Day For Bananafish 1714 Words   |  7 PagesMatthew Silbernagel Ms. Clark English III 30 November 2015 J.D. Salinger her was born in New York City in 1919. He wrote in the post war time period where writers wrote mostly about aesthetic or social rather than political problems. J.D. Salinger is the son of a Jewish father and a Christian mother. After enrollment at both NYU and Columbia University he devoted himself to writing and by 1940 he had published some short stories. But his career as a writer was interrupted by World War IIRead MoreSalinger s A Pretty Good Life Growing Up1269 Words   |  6 PagesGiselle Baez Ms. Cordil English 11R - A 11 May 2016 J.D. Salinger had a pretty good life growing up. He was born in New York City on January 1, 1919. Salinger’s academics weren t one of his priorities, but he did want to become one of the most famous authors. After failing several prep schools, he finally graduated from Valley Forge Military Academy in Pennsylvania (Telgen 117). He went to numerous colleges including Columbia University but didn t graduate from any. Salinger’s early adultRead MoreThe Is The Moral Aspects Of Society And Risk Taking1983 Words   |  8 PagesThe uniquely American attributes as seen in the novel The Catcher in the Rye, by J.D. Salinger are the moral aspects of society and risk taking . The author’s use of theme and characterization are a clear and accurate testimony to this. Some general American traits include not waiting to be introduced, but beginning able to speak to strangers as they stand in a queue ( â€Å"American Society and Culture† ). In general, Americans like personal space and have a strong believe of freedom of choice (â€Å"101Read MoreThe Catcher in the Rye by J.D. Salinger1104 Words   |  4 Pages J.D. Salinger has written multiple novels, but his most famous is The Catcher in the Rye. Not only is this novel famous for its literary merit, it is also known as his most banned novel in certain schools. Even though this novel has been banned, J.D. Salinger’s themes an d moralistic purposes serve literary worth. In The Catcher in the Rye, the reader is first introduced to Holden Caulfield, as first person narrator. He is a radically independent adolescent who tosses off judgments at ease unselfconsciouslyRead MoreCatcher in the Rye4413 Words   |  18 PagesThe Catcher in the Rye â€Å"Is The Catcher in the Rye, as a work of literature still relevant for today’s youth?† Name: Sara Sigurdson Course: English A1 Supervisor: Mr. Peter Steadman Word count: 3851 Candidate number: 00136022 Table of Contents Content Page Number Abstract 3 Introduction 4 The Actual Catcher in the Rye 4 The Sexual Matter 5 The Caulfield Family 6 Narrator and Protagonist 8 Role Model 9 Mr. Antolini 10 Targeted Audience 10 Guidance 12 Read MoreAnalysis of A Catcher In the Ryes Holden Caulfield: Enemy of Himself1686 Words   |  7 PagesJerome David Salinger’s only novel, The Catcher in the Rye, is based on the life events shaping main character, Holden Caulfield, into the troubled teen that is telling the story in 1950. The theme of the story is one of emotional disconnection felt by the alienated teenagers of this time period. The quote, â€Å" I didn’t know anyone there that was splendid and clear thinking and all† (Salinger 4) sets the tone that Holden cannot find a connection with anyone around him and that he is on a lonely endeavorRead MoreSalinger s The Rye 1527 Words   |  7 PagesCatcher in the Rye is a novel written by J.D Salinger, it follows 17-year-old Holden Caulfield throughout the days following his expulsion from Pencey Prep. The book dives into Holden’s unstable mind as he recounts his story from a rest home, often feeling confused, lost and mad at the world. This underlining theme of teenage angst has become very popular and finds itself in various works of modern day media such as the television show the Fosters. The Fosters follows the story of a similarly troubledRead MoreEssay on Meaningful Symbols in the Rye by J.D Salinger537 Words   |  3 Pages Catcher in the Rye†, by J.D Salinger, is about a boy named Holden Caulfield. He thinks the adult world is a bunch of â€Å"phonies.† The novel contains many key symbols that help develop the novel, and to help show Holden Caulfield’s point of view on the way he sees the world. Three of these key symbols include: Holden Caulfield’s red hunting hat, the ducks in the Central Park lagoon, and The Museum of Natural History. One of the most important and recognizable symbolsRead MoreAnalysis Of The Novel The Catcher In The Rye1230 Words   |  5 PagesThe Catcher All the suffering, stress, and addiction comes from not realizing you already are what you are looking for. --Jon Kabat-Zinn By looking these hopeless people in San Francisco, that reminds me the horrible things that happened in front of me at that summer in New York. Some of the hospitalized people killed themselves in front of everyone at the Central Park. Those people all had the mental illness which suffered from the great depression, so they had the ideas to commit suicide justRead More Holden Essay1040 Words   |  5 Pages Holden Caulfield, the narrator and the main character of The Catcher in the Rye by J.D. Salinger, is a young adult, who, at first seems to simply describes his four day adventure in New York City after bring expelled from his forth school. However, at the same time he narrates more; through his many experiences, which he describes in the book, we can see the themes of the work. The theme that definitely stands out is the loss of innocence. Holden portrays himself as an individual, who does not

Analysis on Employee Burnout

Question: Discuss about the Analysis on Employee Burnout. Answer: Introduction There are numerous cases of discontentment as well as an increase in the workload of staff in various working environments as well as job descriptions. Such cases lead to deterioration in productivity as well as the reduction in the overall performance of the task under which the staff is subject to being enrolled. The overall effect of continuity of such an occurrence leads to the formulation of a phenomenon known as burnout (Bakker, Emmerik, and Euwema, 2006). Burnout is a term with reference to the overall manifestation of stress in terms of the exhibition of a response that results from the stress of the mind, body and emotional disorientation of the personality (Newell, and MacNeil, 2010). Schaufeli, Leiter, and Maslach, (2009) expounds of the above by arguing that it is due to the changes in the perspective of the employee in terms of the nature of the work they are conducting that leads to the responses that are both psychological as well as physiological in nature. The most obvious causes of the above predicament will depend on the nature of the job description, the timeframe of the personality required to perform their duties at the business entity as well as the interrelationship between the worker and the environment. The changes in the mood of the affected individuals pertinent to their perception of the nature of their responsibilities are also among the factors that lead to the increment in the levels of burnout among staff. Bakker, Emmerik, and Euwema, (2006) makes an observation regarding the causes of burnout as largely associated with exposure levels to the specific job environment and continuous application of individuals prowess to a specific job without making changes in their job description as well as their responsibilities. It is believed that there are different levels of the occurrence of the phenomenon among different job descriptions ranging from low percentiles to high percentiles, which are dependent on the nature of the job as well as the amount of time and complexity of the work done by the members of staff. It is crucial to note that burnout may result in the occurrence of a state of fatigue as well as the decline in the intrinsic motivation of a person hence the reduction in the passion and zeal for one to continue in the remittal of their services at their places of work. The relevance of the phenomenon is that the idealism into the state burnout and weariness is purely a psychological problem, which is socially oriented and induced by the immediate factors surrounding the victim of the phenomenon (Bakker, Emmerik, and Euwema, 2006). It is imperative in this analysis to note that the response mechanisms leading to a state of weariness as well as the manifestation of the burnout are not an immediate affair but rather a cumulative of a series of events that finally lead to the manifestation of the phenomenon. These normally involve the victim feeling extremely tired or exhausted at the mare sight of their responsibilities. The above phenomenon then results into a feeling of the decline in the level of commitment and initial attachment to the work pertinent to being referred to as cynicism. Finally, the above factors lead to the actual deterioration in the performance due to the lack of satisfaction from the job on the employee or staff (Shanafelt, 2015). The feeling of weariness, as well as fatigue from the job description, is the most obvious sign that is subject to the manifestation of the state of burnout among the employees. It is because of the complete drainage of an employees ability to provide their input as far productivity is subject to concern. Both the emotional and physical wellbeing of the victim of burnout are fully drained and hence there can be little productivity in terms of the provision of their resources to the firm (Crawford, LePine, and Rich, 2010). The aspect of cynicism, on the other hand, is the immediate effect of the occurrence of the above (Shanafelt, 2015). The person whose resources are drained becomes less responsive to their colleagues as well as other parameters in relation to their job descriptions. For instance, these individuals often exhibit traits that are negative especially to their superiors as well as to their colleagues. Other character traits involve laxity as well as sluggard responses to their superiors. Finally the overall output from the above phenomenon that largely classifies a burnout is a general reduction in the output, the efficacy of the employee in terms of the standards of output and the general deterioration in the staff in pertinent to their performance evaluation. Exhaustion According to Bakker, Emmerik, and Euwema (2006), the manifestation of the state of burnout among members of staff or colleagues is largely under observation through the weariness and exhaustion. As discussed above the phenomenon is the general tiredness as well as the decline in the zeal of the employees in their specific roles in their jobs. However even with exhaustion as the main sign of the presence or occurrence of burnout, it does not give sufficient information pertinent to the psychological status of the personage subject to being the victim of burnout. It is because it is majorly focused on the physical aspect of the phenomenon (Maslach, Schaufeli, and Leiter, 2001). Cynicism It is imperative to note with the exhaustion of the employees being physical in nature, and cynicism is majorly an abstract affair due to its abstract causes that are an indicator of exhaustion and hence burnout. It refers to a state of a person becoming depersonalized in nature (Bakker, Emmerik, and Euwema, 2006). The term abstract refers to the unseen reasons pertinent to being psychological in nature. The decline in the self-esteem of the worker(s), the decline in the interpersonal relationships between the employees and each other or the employee-executive relationships is a manifestation of the predicament (Maslach, Schaufeli, and Leiter, 2001). In most cases, the individuals that once had a sanguine attitude pertinent to their interaction with all individuals tend to distance themselves. It shows the culmination of an exhausted person that now enters into the cynicism stage. It exhibits its presence in various work temperaments that are dependent on the amount of work, as well as the complexity of the intended responsibilities from the above personages. The most typical instance of the occurrence of cynicism is a working environment that is chronic in nature, with many demands and little motivation of the workers, which has a lasting effect on the efficacy of the affected person. Contributors to the State of Burnout Quantity of Work The primary cause with respect to the type of the job is the amount of work expected for the employees to perform. A lot of work with a limitation in the period for the provision of results is among the main issues, which cause weariness among the members of staff working at the stations. The workload on the staff, as well as factors as such as high expectations and pressure on the employees in terms of time is a clear illustration of the state of weariness among the employees ((Bakker, Emmerik, and Euwema, 2006; Maslach, Schaufeli, and Leiter, 2001). The ease of doing the heavy tasks in the limited time is also another task that leads to the state of weariness among the staff. The staff will strain to ensure that they try to complete the intended work in the set time. It is, therefore, the reason why most employees will work deep into the night and head to their homes at around midnight. The repetition of this process on a daily basis will eventually lead to exhaustion of the person and hence finally leading to burnout. Burnout and Quality of Work Bakker, Emmerik, and Euwema (2006) argue that the above predicament is also because of the type of quality of work that is supposed to be conducted by the members of staff. In this description, the lack of clarity, as well as ambiguity pertinent to the roles of the members of staff, is the leading cause of burnout in the employees pertinent to the quality of the work expected. To concur with the authors arguments Maslach, Schaufeli, and Leiter (2001) explained that the conflict with respect to multiple tasks that have to meet in a specific time frame leads to exhaustion as well as the absence of total information on the type of work to be done. The other issue that is quality oriented is with regard to the nature of the problems facing the clients pertinent to the levels of the severity of the problems at hand. These, on the other hand, ought to be handled by multiple qualified individuals hence leading to the prevention of weariness among the staff. Resource Allocation and Participation The absence of resources with regard to the support from the administration as well as the members of the executive in a particular organizational setting is the leading cause of deterioration of performance and finally a burnout. It is indeed true that the supervisors as well as the administration ought to support the members of staff regarding the provision of resources as well as incentives for the motivation of the employees (Adriaenssens, De Gucht, and Maes, 2015; Bakker, Emmerik, and Euwema, 2006). Motivation from these individuals directly stimulates performance in that tasks that have been handled well are subject to appreciation. However, tasks that have been poorly performed are subject to scrutiny as well as rectification. The above phenomenon is direct correlated to the amount of feedback given for a certain task accomplished. Poor remittal of feedback from the supervisors as well as other colleagues results in weariness which if not addressed will lead to a state of burnout among the employees. Feedback is important as it helps in the tracking of the level of progress among the staff as well as aiding in the increment in the intrinsic motivation levels of the employees. Areas that need improvement are subject to communication through the feedback received. It, therefore, leads to a state of cohesion between the supervisors and the workers (Bakker, Emmerik, and Euwem, 2006). The inclusion in the decision-making stratagems is crucial for the success of the firm as well as improvement in the levels of motivation among the staff. Employees who are not involved in the decision-making procedures of a company or department are prone to becoming wearier in comparison to those who are involved in decision making. The inclusion of opinions by the supervisors to the staff is critical as it ensures as a state of cohesion as well as collective responsibility among the members of staff. Staffs who are not subjected to giving their opinions are often disgruntled especially since they often are not given the environment to air their feelings, especially when disappointed. The disgruntled employee may influence the other members of staff in becoming disgruntled, the overall effect being a state of anarchy and burnout at the organization. Burnout and Work Environment Some occupations are more prone to the manifestation of the existence of weariness, exhaustion and finally burnout among the members of staff. It is because some occupations require the remittal of high input levels than others. Other professions require the physical presence of a person, while others will require psychological input into the roles of the members of staff. For instance, in some categories of job descriptions there arise variations of exhaustion as well as cynicism among the members of staff as argued by Bakker, Emmerik, and Euwema (2006) and Maslach, Schaufeli, and Leiter (2001). The teaching profession has among the highest rates of weariness and physical exhaustion in comparison to the others. The individuals whose job descriptions are oriented in the maintenance of peace and tranquillity with respect to the following of statues show the increase in the levels of cynicism as compared to the teachers (Cherniss, 2016). Hakanen, Bakker, and Schaufeli (2006) argue that these individuals have relatively small degrees of being exhausted. However, the above fact is variable in nature, as the gender of the people as well as the nature of the job is also matter to be considered (Gonzlez-Rom, 2006; Antoniou, Polychroni, and Vlachakis, 2006). Purvanova and Muros, (2010) implore that it is believed that majority of the women have low levels of cynicism and high exhaustion levels in comparison to their male counterparts in the similar professions. Doctors and health practitioners were subject to lower standards of exhaustion as well as significantly low degrees of cynicism (Biksegn, et al., 2016; Newell and MacNeil, 2010). It is because the correlation and communication with respect to feedback and clarity of instructions are fundamental in their profession. The presence of the required resources, resource allocation, comments, and decision-making is practiced among the majority of the hospices to ensure that the patients have access to the best medical attention (Laschinger, and Leiter, 2006). Burnout and Promises The typical modern contemporary working environment is characterized by managers who offer incentives to their employees in a bid to instil as well as inculcate perfection and productivity among the members of staff. These factors are social as well as give an illustration of the culture of the working environment in the contemporary society. It is a fact that majority of the companies, as well as major corporate conglomerates, have been victims of changes in their structures. The above is mainly due to mergers as well as acquisition by either big companies or of smaller business entities. Such results in changes that directly influence the production of retained employees. The sacking of staff due to the various changes in the structure of the business entities result in demotivation of existing staff. It is because they become insecure about their relevance in the firm, which leads to lower productivity as well as the state of burnout among the individuals (Khan, Yusoff, and Khan, 2014). The failure of the members of the executive in meeting their promises with respect to a reciprocal kind of relationship between results and the executive is one of the leading causes of exhaustion as well as the mental breakdown of the staff (Spence Laschinger, 2009). Spence Laschinger (2009) argues that it is because the staffs considers it unfair for them to be subjected to workload, and provision of results whereas there is minimal to no appreciation of their skills, time as well as their ability to become flexible to new work temperaments. Consequences of Burnout The ability to determine the relevance of burnout among the members of staff is not complicated in that one only needs to assess the productivity of the individual pertinent to the quality of work as well as the quantity and continuous production and efficacy. First, there are cases of the affected individual being absent from the job and the actual reduction in the output as well as the decline in the productivity of the affected person. Others include quitting of the job opportunity by the affected individuals. The minimal amount of satisfaction among the affected individual is also another characteristics. The existence of a state of anarchy, as well as resentment among members of staff who are disgruntled, is among the signs of burnout (Awa, Plaumann, and Walter, 2010). Other characteristics are more health oriented in that these individuals often display evidence of anxiety as well as depression due to their continuous state of dissatisfaction with their job opportunities (Newell and MacNeil, 2010; Bianchi, Schonfeld, and Laurent, 2015). It is indeed factual to say that there is a decline in the self-esteem levels of the affected individuals. The solution to such problems may include changing the job descriptions of the above individuals as well as inculcate a positive culture among the affected individuals. Conclusion It is imperative for the members of the executive and the staff to create and maintain a positive relationship with each other, to create a healthy working environment that leads to the minimization of burnout among the employees. Constant communication and adherence to promises as well as the provision of the required resources regarding a number of workers per task must also be considered to prevent the overworking of employees. References Adriaenssens, J., De Gucht, V. and Maes, S., 2015. Determinants and prevalence of burnout in emergency nurses: A systematic review of 25 years of research.International journal of nursing studies,52(2), pp.649-661. Aloe, A.M., Amo, L.C. and Shanahan, M.E., 2014. Classroom management self-efficacy and burnout: A multivariate meta-analysis.Educational psychology review,26(1), pp.101-126. Antoniou, A.S., Polychroni, F. and Vlachakis, A.N., 2006. Gender and age differences in occupational stress and professional burnout between primary and high-school teachers in Greece.Journal of Managerial Psychology,21(7), pp.682-690. Awa, W.L., Plaumann, M. and Walter, U., 2010. Burnout prevention: A review of intervention programs.Patient education and counseling,78(2), pp.184-190. Bakker, A.B., Van Der Zee, K.I., Lewig, K.A. and Dollard, M.F., 2006. The relationship between the big five personality factors and burnout: A study among volunteer counselors.The Journal of social psychology,146(1), pp.31-50. Bakker, A.B., Van Emmerik, H. and Euwema, M.C., 2006. Crossover of burnout and engagement in work teams.Work and Occupations,33(4), pp.464-489. Bianchi, R., Schonfeld, I.S. and Laurent, E., 2015. Burnoutdepression overlap: A review.Clinical psychology review,36, pp.28-41. Biksegn, A., Kenfe, T., Matiwos, S. and Eshetu, G., 2016. Burnout Status at Work among Health Care Professionals in aTertiary Hospital.Ethiopian journal of health sciences,26(2), pp.101-108. Cherniss, C., 2016.Beyond Burnout: Helping teachers, nurses, therapists, and lawyers recover from stress and disillusionment. Routledge. Crawford, E.R., LePine, J.A. and Rich, B.L., 2010. Linking job demands and resources to employee engagement and burnout: a theoretical extension and meta-analytic test.Journal of Applied Psychology,95(5), p.834. Firth, H., McKeown, P., McIntee, J. and Britton, P., 1987. Professional depression, burnoutand personality in long-stay nursing.International Journal of Nursing Studies,24(3), pp.227-237. Gonzlez-Rom, V., Schaufeli, W.B., Bakker, A.B. and Lloret, S., 2006. Burnout and work engagement: Independent factors or opposite poles?.Journal of vocational behavior,68(1), pp.165-174. Hakanen, J.J., Bakker, A.B. and Schaufeli, W.B., 2006. Burnout and work engagement among teachers.Journal of school psychology,43(6), pp.495-513. Khan, F., Yusoff, R.M. and Khan, A., 2014. Job demands burnout and resources in teaching a conceptual review.World Applied Sciences Journal,30(1), pp.20-28. Laschinger, H.K.S. and Leiter, M.P., 2006. The impact of nursing work environments on patient safety outcomes: The mediating role of burnout engagement.Journal of Nursing Administration,36(5), pp.259-267. Maslach, C., Schaufeli, W.B. and Leiter, M.P., 2001. Job burnout.Annual review of psychology,52(1), pp.397-422. Newell, J.M. and MacNeil, G.A., 2010. Professional burnout, vicarious trauma, secondary traumatic stress, and compassion fatigue.Best Practices in Mental Health,6(2), pp.57-68. Purvanova, R.K. and Muros, J.P., 2010. Gender differences in burnout: A meta-analysis.Journal of Vocational Behavior,77(2), pp.168-185. Schaufeli, W.B., Leiter, M.P. and Maslach, C., 2009. Burnout: 35 years of research and practice.Career development international,14(3), pp.204-220. Shanafelt, T.D., Hasan, O., Dyrbye, L.N., Sinsky, C., Satele, D., Sloan, J. and West, C.P., 2015, December. Changes in Burnout and satisfaction with work-life balance in physicians and the general US working population between 2011 and 2014. InMayo Clinic Proceedings(Vol. 90, No. 12, pp. 1600-1613). Elsevier. Spence Laschinger, H.K., Leiter, M., Day, A., and Gilin, D., 2009. Workplace empowerment, incivility, and burnout: Impact on staff nurse recruitment and retention outcomes.Journal of nursing management,17(3), pp.302-311.

The Life ; Philosophy Of Friedrich Nietzsche Essay Example For Students

The Life ; Philosophy Of Friedrich Nietzsche Essay Philosophy Class Essay Born: 1844. Rocken, Germany Died: 1900. Weimar, Germany Major Works: The Gay Science (1882), Thus Spoke Zarathustra (1883-1885), Beyond Good Evil (1886), On the Genealogy of Morals (1887), MAJOR IDEAS Self deception is a particularly destructive characteristic of West Culture. Life is The Will To Power; our natural desire is to dominate and reshape the world to fit our own preferences and assert our personal strength to the fullest degree possible. Struggle, through which individuals achieve a degree of power commensurate with their abilities, is the basic fact of human existence. Ideals of human equality perpetuate mediocrity a truth that has been distorted and concealed by modern value systems. Christian morality, which identifies goodness with meekness and servility is the prime culprit in creating a cultural climate that thwarts the drive for excellence and self realization God is dead; a new era of human creativity and achievement is at hand. Great Thin kers In The Western World. By: Ian P. McGreal, 1992 PREFACE Much information is available on Mr. Friedrich Nietzsche, including many books that he wrote himself, during his philosophical career. I took this as a good sign I would find a fountain of enlightened material produced by the man. Ive had to go through a bit of my own philosophical meditations to put my own value judgements aside, and truly look for the contributions Nietzsche gave to philosophy. Much of my understanding came only after I had a grasp of Neitzsches history; therefore, I encourage you to read-up on his history before diving into his philosophy (see Appendix I). The modern Westerner might disagree with every aspect of his philosophy, but there are many things one must unfortunately admit are true (only if you put your morality aside). So, from here, I will present his contributions to philosophy, and do my best to delete my own opinions, other than to say that he was not the chosen topic of this paper out of a ny admiration. THE PHILOSOPHY OF FRIEDRICH NIETZSCHE Sometimes philosophy is called timeless, implying that its lessons are of value to any generation. This may be hard to see in Nietzsches work; but, we are assured that it was appropriate thought for his time. However, even Nietzsches critics admit that his words hold an undeniable truth, as hard as it is to accept. Perhaps this is why his work is timeless, and has survived 150 years in print. Christianity God is Dead! announced Zarathustra (better known as Zoroaster), in Neitzsches proudest book, Thus Spoke Zarathustra (1883-1885). Unlike many philosophers, Nietzsche never tried to prove or disprove the existence of God, just that belief in God can create sickness; and to convince that highest achievements in human life depend on elimination of God. Whether God existed had no relevance in his goal. Proclamation of the death of God was a fundamental ingredient in the revaluation of values Nietzsche advocated. Nothing has done more than Christianity to entrench the morality of mediocrity in human consciousness. Christian love extols qualities of weakness; it causes guilt. Charity is just teaching hatred and revenge directed toward nobility. Belief in God is a tool to bring submission to the individual of noble character. F. Nietzsche, Thus Spoke Zarathustra. Hero Morality Nietzsche had an ideal world in mind, with an ideal government and an ideal God: the Overman or Superman. These Gods were a product of natural selection, or social Darwinism. He felt, very strongly, that any kind of moral limitations upon man would only stand in the way of The Overman. The Will To Power, his strongest teaching, meant that The Overman should and would do anything possible to gain power, control and strength. If one showed the smallest bit of weakness or morality, he would be killed by the stronger Overman, and taken over. Thus, the advancement of The Master Race (Nietzsches Master Race will be discussed later). Not mankind, b ut superman is the goal. The very last thing a sensible man would undertake would be to improve mankind: mankind does not improve, it doesnt even exist it is an abstraction. his superman as the individual rising precariously out of the mire of mass mediocrity, and owing his existence more to deliberate breeding and careful nurture than to the hazards of natural selection. Master RaceNietzsche is often referred to as a pre-Nazi thinker, by his idealism of The Master Race. He was, in fact, a prime influence on the writing of Hitlers highest men, and quoted in Hitlers speeches. But, his writings were mostly taken out of context, because he was very open about his distaste for those anti-semites. If one is able to come from a more intelligent place, regarding the breeding of best-fit humans, Nietzsche was far beyond Hitler. Nietzsche understood the necessity for variation in a population, and especially was able to appreciate the contributions of other races and cultures. His ideal so ciety would be a race that included select bits from many races/cultures. The only culture that he seemed to have a special appreciation for were the Polish. He wrote, The Poles, I consider the most gifted and gallant among Slavic people Still, he wrote about his value for the Jews, as response to the growing anti-semite culture in Germany during his time: The whole problem of the Jews exists only in nation states, for here their energy and higher intelligence, their accumulated capital of spirit and will, gathered from generation to generation though a long schooling in suffering, must become so preponderant as to arouse mass envy and hatred. In almost all contemporary nations, therefore in direct proportion to the degree which they act up nationalistically the literary obscenity of leading the Jews to slaughter as scapegoats of every conceivable public and internal misfortune is spreading. As soon as it is no longer a matter of preserving nations, but of producing the strongest possible Euro-Mixed race, the Jew is just as useful and desirable as ingredient as any other national remnant. War MentalityNietzsche had an incredible infatuation with evil and violence. He did so much to find evil and cruelty in the world, that he seemed to have a sadistic pleasure in celebrating it; man is the cruelest animal, he states in Thus Spoke Zarathustra. In his book, Beyond Good and Evil, he really aims at changing the readers opinion as to what is good and what is evil, but professes, except at moments, to be raising what is evil and decrying what is good. It is necessary for higher men to make war upon the masses, and resist the democratic tendencies of the age, for in all directions mediocre people are joining hands to make themselves masters. Everything that pampers, that softens, and that brings the people or woman to the front, operates in favor of universal suffrage that is to say, the dominion of inferior men. Women The FamilyThis brings us to Nietzsches view o f women. At this point, I believe its important to note Nietzsches experience with women, because his writings about them seemed to begin closely after being rejected by the only woman he admitted to love. She rejected him as heasked her hand in marriage. Men shall be trained for war and woman for the recreation of the warrior. All else is folly. The patriotic member of a militant society will look upon bravery and strength as the highest virtues of a man; upon obedience as the highest virtue of the citizen; and upon silent submission to multiple motherhood as the highest virtue of woman. Thou goest to woman? Do not forget thy whip. From Nietzsches experience with women, as author Betrand Russell said, Nine out of ten women would get the whip away from him, and he knew it, so he kept away from women, and soothed his wounded vanity with unkind remarks. Many of his comments toward women reflected what a lonely and unloved person he was. In some poems he wrote after his prospective wif e left him, he wrote this lonely line: I could sing a song, and I will sing it, although I am alone in an empty house and must sing it to mine own ears. So, he added appropriately to his beliefs the following: How absurd it is, after all, to let higher individuals marry for love heroes with servant girls and geniuses with seamstresses! When a man is in love he should not be permitted to make decisions affecting his entire life. We should declare invalid the vows of lovers and should make love a legal impediment to marriage. The AristocracyNietzsche loved his aristocratic anarchism, and had such a hate for democracy, that it consumes nearly every bit of his philosophy. His ideal society was divided into three classes: producers (farmers, merchants, business men), officials (soldiers and government), and rulers. The latter would rule, but they would not officiate in government; the actual government is a menial task. The rulers would be philosopher-statesmen rather than office-holder s. Their power will rest on the control of credit and the army; but they would live more like the proud-soldier than like the financier. Nietzsche believed that some people were inherently more important than others; their happiness or unhappiness counted for more than the happiness of average people. He dismissed John Stuart Mill as a blockhead for the presupposition that everyone was equal. He wrote about Mill: I abhor the mans vulgarity when he says what is right for one man is right for another. Such principals wild fain establish the whole of human traffic upon mutual services, so every action would appear to be a cash payment for something done to us. The hypothesis here is ignoble to the last degree; it is taken for granted that there is some sort of equivalence in value between my actions and thine. Nietzsche, as I said before, hated democracy, but he recognized Christianity as a greater risk. Perhaps this was because people are always more loyal to their od, than their gove rnment. He felt that democracy began with Christianity: holy epileptics like saint Paul, who had no honesty. The new testament is the gospel of a completely ignoble species of man. Christianity is the most fatal and seductive lie that ever existed. So, before stripping people of their choice and equality, their God had to be taken first, Then the government. Consequently, the road to the superman must lie through aristocracy. Democracy this manner for counting noses must be eradicated before it Is too late. The first step here is the destruction of Christianity so far as all higher men are concerned. ConclusionAs Will Durant stated Nietzsches faults so eloquently, we can see him suffering at every line, and we must love him even where we question him, I couldnt agree more. I always ask the supremacist the question, why do you support a supremacist government that would probably reject you into its lower class? I have no doubt, that if Nietzsche lived in his ideal society, he woul d have no honor, as he misses every requirement, being a sickly man who was rejected from the army, and lacking the strength to compete with his own superman. .u2043b0d577fcbb1ae05c6bb26711cfa1 , .u2043b0d577fcbb1ae05c6bb26711cfa1 .postImageUrl , .u2043b0d577fcbb1ae05c6bb26711cfa1 .centered-text-area { min-height: 80px; position: relative; } .u2043b0d577fcbb1ae05c6bb26711cfa1 , .u2043b0d577fcbb1ae05c6bb26711cfa1:hover , .u2043b0d577fcbb1ae05c6bb26711cfa1:visited , .u2043b0d577fcbb1ae05c6bb26711cfa1:active { border:0!important; } .u2043b0d577fcbb1ae05c6bb26711cfa1 .clearfix:after { content: ""; display: table; clear: both; } .u2043b0d577fcbb1ae05c6bb26711cfa1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2043b0d577fcbb1ae05c6bb26711cfa1:active , .u2043b0d577fcbb1ae05c6bb26711cfa1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2043b0d577fcbb1ae05c6bb26711cfa1 .centered-text-area { width: 100%; position: relative ; } .u2043b0d577fcbb1ae05c6bb26711cfa1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2043b0d577fcbb1ae05c6bb26711cfa1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2043b0d577fcbb1ae05c6bb26711cfa1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2043b0d577fcbb1ae05c6bb26711cfa1:hover .ctaButton { background-color: #34495E!important; } .u2043b0d577fcbb1ae05c6bb26711cfa1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2043b0d577fcbb1ae05c6bb26711cfa1 .u2043b0d577fcbb1ae05c6bb26711cfa1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2043b0d577fcbb1ae05c6bb26711cfa1:after { content: ""; display: block; clear: both; } READ: THe Most Imporanf The Tsars Fall From Power. 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Fixed Income Securities Market in Pakistan

Fixed Income Securities Market in Pakistan Free Online Research Papers A well functioning bond market is imperative for the development of a nation’s economy and ensuring the financial sector stability. This paper gives an overview of the current structure of Fixed Income Securities Market Pakistan and its functioning. The paper also focuses on the key obstacles which are in Pakistan’s way to make its bond market strong, deep and liquid. Suggestions are also given to remove the impediment from the development of an efficient Fixed Income Securities Market in Pakistan. Introduction An efficient fixed income security market, both government and corporate, is highly gratifying for the swift development of any economy as it leads to the efficient mobilization of resources for long-term investment. Governments can help achieve the allocative efficiency from the Market based Government Debt Securities . The frequent issues of securities of various maturities by the government helps building a yield curve that serves as the benchmark for the issuance of corporate debt securities. Raising funds through bonds saves the company from the cumbersome procedure of issuing equity. Companies know their interest expenditures before hand and this known cost of capital helps them in planning budgeting process. A strong bond market offers an alternative source of financing to companies other than banks. This alternative source of financing was quoted as â€Å"the spare tire† of economy by the former Federal Reserve Chairman Allan Greenspan . Lack of an efficient bond market is often seen as the primary reason behind the Asian Crisis. The banking sector could not stand in front of the Asian Crisis of 1997, FDI started flying back and the financial system had nothing to offer in terms of capital as the inability of the emerging markets of Asia to borrow long term in local currencies had resulted in very weak fixed income securities markets and this â€Å"Spare tire† was not available to the crisis struck countries. This shifted the focus of policy makers towa rds the creation of an efficient bond market. However, many crisis ridden emerging economies still lag behind in terms of the bond markets (Table-1) Table-1 Country Bond Market as % of GDP Country Bond Market as % of GDP India 0.4 Malaysia 38.2 China 0.7 USA 22 Brazil 0.6 Korea 21.1 Russia 1.5 Japan 16.3 Global Financial Stability Report-2005, IMF So, a strong efficient bond market and a strong banking sector offer healthy competition to each other and by complimenting each other ensure financial stability even if one source in under stress. 1. Country Background Pakistan inherited an undersized and undeveloped financial structure after the independence. The financial structure that we have today in Pakistan is the result of many experiments, policy shifts and developments. We can segregate the eras of policy shifts developments into following periods; Till 1971, the primary focus was of the governments was on the development of commercial banks in the private sector and creating Development Institutions backed by government. The 1947-1960 era was marked with private sector development while the focus during the 1960-1971 was on the development of public sector institutions e.g. KPT, SSGCL, SNGP etc. The private sector development almost clogged during the 1971-1990, owing to the nationalization policy of the Z.A Bhutto regime and non-friendly policy towards private businesses by their predecessors. The banking sector came into government’s control during this period. The government, however, followed more liberal and market based reform in the post 1990 era. The fixed income securities market followed the similar shift as shown in the above given developments. The initial phase of the fixed income securities market is from 1947 to 1990. The government, federal as well as provincial, used to borrow on tap instruments and captive funding. Owing to the concessionary loans available from the state bank, the federal government could finance its fiscal deficits from these loans. So, till 1990s, there was no scope for the development of an efficient government securities market that could provide a benchmark yield curve for the development of a private sector bond market The government issued prize bonds in 1960s and some NSS schemes but since they were all on TAP so there could not develop a secondary market for them. In 1960s and 1970s the debentures issued by Pakistani corporations were listed on the stock exchanges with a very limited secondary market. Prior to 1990, the biggest issue of bonds by some corporation was by WAPDA (Table-2). This issue was a failure and the reasons are mentioned below. However, there is strong opinion that the debentures issued by WAPDA failed because the market was very immature for such kind of move. . Issuing Corporation WAPDA Issuance Year 1988 Funds Generated RS 22.5 billion Experience Failure Reason WAPDA was unable to payback on maturity due to insufficient funds No Secondary Market Table-2 Post 1990 Era The post 1990 era was marked with liberal reforms market based reforms by the government in the economy. This is the era in which Pakistan came into the fixed income Securities Market. We can segregate the post 1990 bond market into 1) Government Debt Securities, 2) Corporate Debt Securities. 2. Government Debt Securities The government of Pakistan has run over large fiscal deficits over the two decades. The fiscal deficit stands at $373 billion in fiscal year 2006-07 . This has resulted into the accumulation of large domestic debt of Rs. 2511 billion in fiscal year 2006-07 3.1 PIBs- Pakistan Investment Bonds Government of Pakistan issued long term paper (FIBs) in 1992, with this came into being the long term yield curve so the corporate enteritis to benchmark and issue their own long term securities. The auction of FIBs was stopped in 1998 due to less response by the public on the declining earnings on these instruments. At that time, there was no long term marketable government security that could meet the investment needs of institutional investors. The, government, in order to develop the longer end of its debt market for creating a benchmark yield curve and to enhance the corporate debt market, decided to launch Pakistan Investment Bonds in December 2000. These bonds have the following characteristics Issued in five tenors of 3, 5, 10, 15 and 20-years maturity. Primary Dealer maintains a Subsidiary General Ledger Account (SGLA) with SBP for the settlement purpose Purchased by individuals, institutions and corporate bodies including banks irrespective of their residential status. SBP Ministry of Finance announce the coupon rates and the target amounts after consulting each other Profit is Paid Semiannually The PIBs represent 63% of total permanent debt while 13.23% of the total domestic debt by March 2007. 3.2 MTBs Market Treasury Bills are the short term securities for government borrowing. They have the following Characteristics; Issued in three tenors of 3-month, 6-month and 12-months maturity Zero Coupon bonds sold at a discount to their face values Purchased by individuals, institutions and corporate bodies including banks irrespective of their residential status. Primary Dealer maintains a Subsidiary General Ledger Account (SGLA) with SBP for the settlement purpose The outstanding amount of MTBs as of March 2007 is Rs. 1086.25 billion (43.25% of total Domestic Debt) 3.3 Auction Process for Government Securities State bank of Pakistan acts as an agent for the government to raise the short term long term funds from the market. State Bank sells the MTBs and PIBs to the 10 primary Dealers through price sealed bids auction. The 10 primary dealers are: ABN Amro Bank NV Citibank Habib Bank Limited JS Bank Limited MCB Bank Limited National Bank of Pakistan Pak Oman Investment Co. Prime Commercial Bank Standard Chartered Bank (Pakistan) Limited United Bank Limited The auction of MTBs is done on a fixed schedule on fortnightly basis while the auction of PIBs is done under Jumbo issuance mechanism under which the previous issues are reopened in order to enhance their liquidity in the secondary market. Domestic Debt Profile of Pakistan-March 2007 Domestic Debt $2511.969Billion Permanent Debt 528.802 Market Loans 3.026 Federal Government Bonds 9.313 Income Tax Bonds 0.022 Government Bonds 0.052 Special Governemnt Bonds for SLIC ( capitalization) 0.585 Bearer National Fund Bonds(BNFB) 0.007 Special National Fund Bonds 0.001 Government Bonds (issued to HBL for settlement of CBR Refund) 9,805 9805 Federal Investment Bonds(Auction) 3.331 Federal Investment Bonds (TAP) 0.001 Pakistan Investment Bonds (PIBs) 332.534 Prize Bonds 170.126 F loating Debt $ 1086.524 billion Treasury Bills(3 Months) 0.013 Market Treasury Bills 556.67 MTBs for Replenishment 529.994 Unfunded Debt $ 896.643 billion Defence Savings Certificates 291041 National Deposit Certificates 0.023 Khas Deposit Certificates 0.28 Special Savings Certificates 143.528 Special Savings Certificates 0.286 Regular Income Certificates 572.23 Bahbood Savings Certificates 181.716 Khas Deposit Accounts 0.321 Savings Accounts 9.224 Special Savings Accounts 55.272 Mahana Amdani Accounts 2.479 Pensioners Benefit Accounts 66.903 Postal Life Insurance 67.122 GP Fund 20.723 Source-Economic Analysis Department, SBP 3. Corporate Debt Market/Statutory Debt Market The bond market in Pakistan saw its first corporate issuance in 1995 by Packages Limited. The trend of issuing TFCs could not pick up the pace till 2000 when government stopped the institutional investors to invest in NSS which proved to be highly beneficial for TFCs. Almost all the public offers were over-subscribed, this was also mainly due to the declining interest rates offered by banks and the National Savings Schemes (NSS). There is a great potential in the Pakistani debt market that is yet to be explored. Currently the corporate debt market is 1.12% of the total GDP. 4.1 TFCs The first TFC was issued in 1995 by the Packages Limited (Table-3). Table-3 Issuing Corporation Packages Limited Funds Raised RS 232 million Issuance Year 1995 Rating (PACRA) A+ Coupon Rate 18.50% The largest TFC was issued by PIA in 2003 (Table-4) Table-4 Issuing Corporation PIA Funds Raised RS 15.4 billion Issuance Year 2003 Reason Purchase of Boeing 777s Table-5 TFCs in Pakistan Type of Security Redeemable Debt Security Legislative Background Companies Ordinance, 1984 Distinctive Feature Sharia Compliance/ Interest Rate was termed as â€Å"Expected Profit Rate† Year of First Issue 1995 Largest Issue RS 15.4 billion Smallest Issue RS 100 million Average Issue RS 660 million Benchmark Rates KIBOR, DSCs Type of Interest Rate Floating The interest rates, however, are falling for TFCs (Table-5). A major reason can be the falling interest rates for KIBOR, NSS, PIB and discount rate (Graph-1). Moreover, the trend has shifted from non-financial institutions issuing TFCs to Banks issuing TFCs to raise their Tier II capital 4.2 Role of Credit Rating Agency There are two credit rating agencies in Pakistan. The Pakistan Credit Rating Agency (PACRA) was established in 1994 prior to the first public issue of Term Finance Certificate in 1995. PACRA is a joint venture between LSE Fitch-IBCA of UK. The second credit rating agency is DCR-VIS which is a joint venture between Duff Phelps Rating Agency Vital Information Services (a local company). The objectives of PACRA are to provide technical assistance for establishing operating procedures, establishing mechanisms for rating, the training of professional personnel Joint handling of rating process in initial stages, a review of public information on the client and its industry, preparation of agenda for discussion with the issuer. For this the agency meets the issuer, and has a rating committee meeting. During this meeting the agency holds a discussion and assignment of rating. The issuer is advised of the rating and the rating and report is made public Graph-1 Source: SBP â€Å"Fostering Bond Market in Pakistan†, Farhan Hameed 4. Impediments to Bond Market Development in Pakistan The economy of Pakistan is booming and there is a lot of potential for growth in the coming years. The governmental policies and the overall economic environment of the region promises a lot in terms of financial development, Pakistan is the fastest growing economy in south Asia and this has attracted many foreign investors. This is evident from the fact that in the fiscal year 2006-2007 the net foreign direct investment in the country was greater then $6billion. There is a vast potential that is yet to be explored in the fixed income securities market of Pakistan. There is widespread agreement among the government and private sector participants that Pakistan needs a viable bond market in order to mobilize private savings efficiently for long term investments. We can mention here some obstacles which are in the way to create a strong efficient bond market in the country. 5.1 Crowding Out by the Government Securities A very big hurdle in the development of an efficient corporate bond market in Pakistan is the fact that the Government Securities and the Corporate Securities both compete for the same pool of resources. The government has the advantage of being the risk free. Government attracts savings from the retail investors through NSS while from the institutional buyers through PIBs and MTBs. Since the government securities are risk free so their rates should be less than the TFCs which have more risk than the government securities but the TFCs are priced very close to the Defense Saving Certificates which are another type of government securities with 10 year maturity and government guarantee. So this very small difference of returns between a riskless investment (DSCs) risky investment (TFCs) make the later less attractive for the investor. So there lacks a level playing field between the government securities and that of corporate sector. 5.2 Lack of Benchmark Yield Curve There does not exist a credible long term yield curve which hinders the development of an efficient corporate bond market in Pakistan. PIBs are the long term papers issued by the government and there are two reasons behind for which they do not form a credible long term yield curve. First the interest rates on the PIBs are not market driven, government teds to keep them low while market expects them to be high. This is why since 2004 there has been only one successful auction of PIBs and other bids were rejected. Secondly, there is hardly any secondary market for the PIBs which undermine its status as the benchmark. Due to recent scraping of PIB’s auctions, its supply has decreased in the market which has resulted into increased prices of the bond so we see that prices have increased just because of a factor of demand and supply that has nothing to do with the actual attractiveness of the security and the state of the nation’s economy. Since government has the influence over the institutional investors so they buy government’s long term paper even at lower rates but even they don’t keep and trade the PIBs till maturity in order to avoid booking the capital losses. Since the PIBs by now means serve as the benchmark for the issuance of the corporate bonds so TFCs are issued by the corporate entities making the floating interest rates, like KIBOR, the benchmark rate. 5.3 Administrative Hurdles The issuance cost of TFC is a big hurdle in the way of development a strong bond market in Pakistan. In addition to the coupon rate of the bond, the costs include the stamp duty as 0.15 % of the face value, listing charges, trustee fee, advertising fee and rating charges. These issuing costs can really affect the development of a bond market. The cost of issuing in Japan was approximately 2.5 % of the face value that hampered the growth of the bond market in the country, as opposed to only 0.7% in USA. On the other hand SECP SBP are following discriminating policies towards the corporate bonds. State Bank of Pakistan does not consider the investment in TFCs eligible for SLR. However, SBP allowed the Sukuk Islamic Bonds issued by WAPDA to be the part of SLR â€Å"Statutory Liquidity requirement â€Å"of the banks. This shows a clear example of ad-hoc policies by the regulators. Such regulations shatter the investor confidence in the bond market. 5.4 Liquidity/ Secondary Market Although TFCs are listed on the stock exchanges but still there is hardly any trading. In the absence of well functioning secondary market investors demand higher premium for liquidity on TFCs which increases the cost of capital for the issuing firm. World over, the bonds are traded over the counter (OTC) and large corporate issues are encouraged. The scale of issues is very small in Pakistan and that means that even small trading can affect the price which is a negative aspect. Above all, the pricing and trading of bonds is highly complex mechanism which requires very sophisticated professionals financial analysts which are hardly available in a developing country like Pakistan. 5.5 Non-diverse Investor Base The major part of the government securities is in the form of MTBs and they are mostly bought by the financial institutions which use them for the REPOs. That’s why the bonds are only purchased by the banks only and are exchanged in between themselves. The diverse investor base is imperative for making the bond market less volatile and reducing the risk. A more diverse set of market players is considered beneficial to help eliminate the uniform direction and provide greater stability to the market. 5.6 Disclosure Requirements/Transparency Pakistani investors are more risk averse and they have always been prone to invest in NSS and gold which offer almost negligible risk. The transparency requirements have to be met by the companies in order to issue debt. Lack of transparency in local private firms makes them less likely to attract the investors by issuing debt, specially the foreign investors who are used to work in very regulated and transparent environment where hardly anything is left to chance. Most of the companies lack the reputation to qualify for a rating that could elicit a satisfactory public response 5. Recommendations The current economic circumstances in Pakistan satisfy many of the prerequisites for the development of an efficient fixed income securities market. A strong corporate debt market can flourish at the point where Pakistan is standing today with stable macroeconomic indicators and excellent banking system. However, still some steps are yet to be taken in order to take Pakistani bond market to its actual potential. Some of those steps are put as recommendations here; 6.1 Building a yield curve for the bond market The government should create a long term yield curve for the bonds this could be achieved through ensuring regular issues of the government bonds of various maturities. However, emphasize should be on building the long term yield curve which is almost non-existent in Pakistan. A benchmark yield curve helps in the pricing of other fixed income instruments. This would not only attract the new investors but will also help in enhancing the confidence of customers on the economic policies and the local itself. In order to ensure the regular supply of PIBs in the market, government should come up with a proper issuance calendar with clearly indicated targets. Government should borrow more from market at market rates rather than from the State Bank. Even if there does not exist a secondary market and government increases the issuance of PIBs at market determined rates, it can help create a benchmark yield curve. The lack of supply of PIBs in the market results into an artificial increase in their prices which should be avoided and the government should ensure the regular issues of PIBs even if it does not require the funds. This is because the fact that the regular issues would stop the increase in the prices of PIBs just because their unavailability and their prices would reflect their actual market worth and the state of the Pakistan’s economy and PIBs would serve as the justified and credible benchmark long term yield curve. The economic managers of the country state that the less issuance of the PIBs in last two years is due to high inflows in NSS. The government should understand that it will have to issue PIBs regularly even if it is running in surpluses. It is the same as the government raised $500 million from Euro bonds when it did not require the funds but issued the bonds just to show the presence in the international market . The similar approach should be adopted in the domestic market. 6.2 Increased Size of the Bond Market A big hurdle in the creation of a secondary market in Pakistan has been the limited size of the issuance. The policymakers should focus on the fact that larger the size of the outstanding bond market, the larger is the turnover and the liquidity. Since the outstanding size of MTBs and PIBs is just $ 23 billion in Pakistan which is quite small. In order to create the size of the market, the government can opt for issuing the bonds for some specific maturity, mainly the long term maturity. The major chunk of the outstanding domestic debt is in the form of MTBs which are short term 6 or 12 months securities. The preference should be given to PIBs with 10 years maturity. This increased focus by government on PIBs would enhance its market size and there would be more turnover and trading in this long term government security that would give it a market based price and interest rate which would further become a justified and credible benchmark for the corporate bonds. 6.3 Stopping Institutional Investors from NSS The government of Pakistan barred the institutional investors to invest in NSS in 2001 but it has allowed the institutions to invest in NSS. This would damage the market for TFCs since the institutions would invest largely in NSS. The government should also lower the interest rates on NSS as they serve as the benchmark for the long term corporate funds and since the current rates are high on them so they make the rates on corporate bonds higher. Since the NSS certificates are usually not held to maturity so actual cost of debt is even lower so this further distorts the rates on corporate bonds. 6.4 TFCs as the part of SRL The SBP should accept the TFCs of blue chip companies as the part of SLR, statutory liquidity requirement. This would not be a big deviation from the current policies as SBP accepts the NIT units as the part of the SLR which is similar in nature to a TFC and NIT certificates are not rated by any rating agency but a company that issues TFCs is a rated company so SBP should reconsider its policy towards TFCs. This would increase the marketability of TFCs and Banks and other Non Banking Financial Institution would be more interested in buying TFCs for Repos purpose. 6.5 Diversifying Investor Base Currently the majority of bondholders are financial institutions i.e. banks. Retail investors and foreign investors have much smaller participation in the bond market. This small investor base gives rise to a one-way market. A sort of cartel has developed and only a few buyers are able to dictate the terms. The government could increase the customer bade by targeting the retail customers. For this purpose, the government can use the channel it uses to sell prize bonds to local investors. Since the government has infrastructure available for selling the prize bonds so there would be less costs related to this new approach. This more diverse set of market players will be beneficial in eliminating the uniform direction and will provide greater stability to the market. 6.6 Investor Awareness The government should announce the calendar for the auctions of the bonds and this should be communicated to the potential investors. The aim of announcing should be that people should know ahead of time and it should be seen as continuity, predictability, and transparency in issuing bonds. The prices and rates should be given immediately in the local newspaper as well as on the website of SECP SBP. 6.7 Availability of Professionals as mentioned above, the mechanism of bond market is highly complex and integrated so pricing and other related activities is very challenging and requires exceptional professional skills which are scarce in Pakistan, even in many institutions. Most of the investors, both retail and institutional, fail to gauge the sentiment of the market and opt for the buy hold strategy. State Bank and SECP should conduct regular investor awareness seminars of international standards. SECP SBP should offer the training programs to professionals to make them equipped with the skills needed to work in bond market. The SBP, SECP, Leading Banks, Brokerage Houses and other financial Institutions should work closely with the top business schools of the country (NIMS, IBA, and LUMS) to equip the students of finance accounting with the skills which are needed by a professional to work in a bond market. 6.8 Risk Management/ Hedging Instruments Hedging instruments are essential to mitigate the risk associated with the bonds and enhance the investor confidence and thus create an efficient and liquid bond market. Government should encourage the institutions to come up with interest rate futures and bond futures and these futures should be allowed to be traded on the stock exchanges in order to provide them liquidity. 6.9 Administrative Reforms The government should ease the issuance procedure of TFCs at SECP and remove the administrative hurdles. So, the companies would be more motivated to issue TFCs. The government should revise the stamp duty on TFCs. SECP should be proactive in its approach. With the passage of development, there would be new kinds of debt securities in the Pakistani market; the SECP should be ready to formulate policies for such securities. 6.10 Stopping the Municipal Bonds The government should only issue bonds at the federal level and no provincial and municipal government’s should be allowed to issue bonds as they don’t have an income of their own and are dependent on the federal and the provincial government for the allocation of the resources. Generally the municipal administrations are in deficit coupled with corruption and mismanagement of resources has lead to the malfunctioning of the municipal government. The issuance of the municipal bonds would only lead to the default and putting the federal bonds credibility at stake. Conclusion Developing a well-functioning, deep and liquid bond market is not an easy task. The scenario in Pakistan is much more conducive today for the development of an efficient strong bond market than a decade ago but still much is left to be done. Relevant institutions, both from government public sector, will have to be very well focused and work collectively for the bond market development in Pakistan. It may take a long time in turning today’s Pakistani bond market into an efficient one that comes at par with those of developed countries but if Pakistan makes the structural adjustments today, the affects would start to become visible in the recent future in the form of benefits sought. If we recall the words of Mr. Allan Greenspan, the former chairman of the Federal Reserve, Pakistan still does not have that â€Å"spare tire† of that economy that can hedge against any possible financial economic crisis in the future. Today we have to make a well directed and calculated e ffort to provide the country with this â€Å"spare tire† and a strong shield against any possible catastrophe. [1] 2nd SBP Conference, Call for Papers, Fixed Income Market Development in Emerging Market Economics. [2] Barbie Martin, 2001, â€Å"Government Debt as Insurance against Macroeconomic Risk†, Paper Abstract [3] Allon Greenspan, Former Federal Reserve Chairman, Speaking to a delegation of Financial Professionals Economists in Sundaresan University, Columbia, 2005 [4] Arif, M., 2006, â€Å"Developing Bond Market in Pakistan†, Research Paper Presented at SBP conference held at Karachi [5] Associated Press of Pakistan, Budget Statistics [6] Daily Times, Sunday, 20th May 2007 [7] FSCD Circular No. 1 of 2007, SBP [8] Luengnaruemitcha and Ong, 2005, â€Å"An Anatomy of Corporate Bond Markets: Growing Pains and Knowledge Gains†, Research Paper [9] Dr Ashfaq Hasan, Economic Business Review of Daily ‘DAWN’ on March 15, 2004 [10] McCauley Remolona, Their Statement about the minimum size of the Bond Market. [11] Pongpen Ruengvirayudh, â€Å"Fixed Income Market Development in Emerging Market Economies: Thailand† [12] Farhan Hameed, â€Å"Fostering Corporate Bond Market in Pakistan†, 2006, Research Paper presented at SBP conference [13] Ms. Uzma Khalil, â€Å"The Development of Debt Securities Market- Country Experience of Pakistan†, 2004, Research paper written for World Bank Seminar on Strengthening Bond Market in Pakistan. [14] Shabbir H. Kazmi, â€Å"A Growing Market for TFCs†, 2000. Research Papers on Fixed Income Securities Market in PakistanAnalysis of Ebay Expanding into AsiaPETSTEL analysis of IndiaTwilight of the UAWMarketing of Lifeboy Soap A Unilever ProductDefinition of Export QuotasInfluences of Socio-Economic Status of Married MalesIncorporating Risk and Uncertainty Factor in CapitalBionic Assembly System: A New Concept of SelfOpen Architechture a white paperHip-Hop is Art

Definition and Examples of Words in English

Definition and Examples of Words in English A word is a  speech sound or a combination of sounds, or its representation in writing, that symbolizes and communicates a meaning and may consist of a single morpheme or a combination of morphemes. The branch of linguistics that studies word structures is called morphology. The branch of linguistics that studies word meanings is called lexical semantics. Etymology ​From Old English, word Examples and Observations [A word is the] smallest unit of grammar that can stand alone as a complete utterance, separated by spaces in written language and potentially by pauses in speech.-David Crystal, The Cambridge Encyclopedia of the English Language. Cambridge University Press, 2003A grammar . . . is divided into two major components, syntax and morphology. This division follows from the special status of the word as a basic linguistic unit, with syntax dealing with the combination of words to make sentences, and morphology with the form of words themselves. -R. Huddleston and G. Pullum, The Cambridge Grammar of the English Language. Cambridge University Press, 2002We want words to do more than they can. We try to do with them what comes to very much like trying to mend a watch with a pickaxe or to paint a miniature with a mop; we expect them to help us to grip and dissect that which in ultimate essence is as ungrippable as shadow. Nevertheless there they are; we have got to live with them, and the wise course is to treat them as we do our neighbours, and make the best and not the worst of them.-Samuel Butler, The Note-Books of Samuel Butler, 1912 Big WordsA Czech study . . . looked at how using big words (a classic strategy for impressing others) affects perceived intelligence. Counter-intuitvely, grandiose vocabulary diminished participants impressions of authors cerebral capacity. Put another way: simpler writing seems smarter.-Julie Beck, How to Look Smart. The Atlantic, September 2014The Power of WordsIt is obvious that the fundamental means which man possesses of extending his orders of abstractions indefinitely is conditioned, and consists in general in symbolism and, in particular, in speech. Words, considered as symbols for humans, provide us with endlessly flexible conditional semantic stimuli, which are just as real and effective for man as any other powerful stimulus.Virginia Woolf on WordsIt is words that are to blame. They are the wildest, freest, most irresponsible, most un-teachable of all things. Of course, you can catch them and sort them and place them in alphabetical order in dictionaries. But words do not live in dictionaries; they live in the mind. If you want proof of this, consider how often in moments of emotion when we most need words we find none. Yet there is the dictionary; there at our disposal are some half-a-million words all in alphabetical order. But can we use them? No, because words do not live in dictionaries, they live in the mind. Look once more at the dictionary. There beyond a doubt lie plays more splendid than Antony and Cleopatra; poems lovelier than the Ode to a Nightingale; novels beside which Pride and Prejudice or David Copperfield are the crude bunglings of amateurs. It is only a question of finding the right words and putting them in the right order. But we cannot do it because they do not live in dictionaries; they live in the mind. And how do they live in the mind? Variously and strangely, much as human beings live, ranging hither and thither, falling in love, and mating together.-Virginia Woolf, Craftsmanship. The Death of the Moth and Other Essays, 194 2 Word WordWord Word [1983: coined by US writer Paul Dickson]. A non-technical, tongue-in-cheek term for a word repeated in contrastive statements and questions: Are you talking about an American Indian or an Indian Indian?; It happens in Irish English as well as English English.-Tom McArthur, The Oxford Companion to the English Language. Oxford University Press, 1992

AT&T Essay Example | Topics and Well Written Essays - 2000 words

AT&T - Essay Example Then comes the Porter's five forces to see if it is favorable to invest in the telecom industry. The issues that need to be considered are stated after which the recommendations are given for the organization to take over. The AT&T Foundation invests globally in projects that are at the intersection of community needs and AT&T's business interests. Emphasis is placed on programs that serve the needs of people in communities where AT&T has a significant business presence, initiatives that use technology in innovative ways, and programs in which AT&T employees are actively involved as contributors or volunteers AT&T has a societal purpose. Public service and social responsibility are traditions deeply embedded at AT&T. The AT&T Foundation seeks to educate, enrich, engage, and empower the communities served by AT&T. Some of the priorities that the AT&T Foundation supports includes: The first divestiture was the result of AT&T and the Regional Bell Operating Companies. With this divestiture, AT&T lost its ability to reach almost every consumer in the US by its wires and bills, as they were no more providing local exchange services. With the incoming of fiber optic transmission and other technologies, the competition aroused in long distance telephone services. AT&T had to build up on these new technologies and reinvention was required. The lack of

Research Methods in Criminal Justice Essay Example | Topics and Well Written Essays - 250 words

Research Methods in Criminal Justice - Essay Example In this case, it is used in clarifying the idea behind a concept. Conceptualization, in criminal justice, can be changed by setting clear standards that can be universally recognized in order to cut back on the wide disparity found in research. In addition, the issue of accuracy of research in criminal justice comes in under changes to research. This is concerning discerning the accuracy and measures of variables used in crime and justice (Gibbs, 1989) One of the possible issues likely to arise from the definition of conceptualization is the variation found in research findings. This is in terms of different conceptualization strategies used by different researchers. In criminal justice, conceptualization of crime is difficult in that there are numerous variables to consider thus creating the wide, or rather narrow disparity. This is dependent on the influence of different variables since the issue of crime happens to be very wide (Gibbs, 1989). Influence of certain aspects may be overlooked, as there are no set standards to conceptualization. It also creates issues in terms of how to measure certain phenomena related to crime and justice. This is due to the presence of multiple methods of measuring similar concepts of

Victorian audience Essay Example for Free

Victorian audience Essay The concept of red herrings is to create a lead or breakthrough in a case for the detective. These have been cleverly devised into the hound of the Baskervilles as there is one clearly visible in London at the beginning. This is the suspecting of Barrymore, Sir Charles butler. The true criminal poses as Barrymore while in London leading Holmes and company to believe that Barrymore is the criminal. Barrymore is later proved to be not guilty. The effects red herrings have on the audience are devastating because it leaves the reader thinking the criminal is going to be harder to catch than the detectives think. We expect to read about a seemingly perfect crime in detective fiction because otherwise it wouldnt be as tension-building or suspense-filling. The seemingly perfect crime in along came a spider is the kidnap of two celebrity kids and the robbery of a million dollar ransom. In hound of the Baskervilles it would be the murder of Sir Henry and Sir Charles Baskerville and announcement that the criminal is an heir to the family fortune his father never received by using an old family curse. The detective genre is being challenged in this book by the gothic genre as the incorporation of a hellhound is less reminiscent of the detective genre. The description of the hell hound backs up a point that it is a more gothic idea as it says, Big, black beast. This refers to the gothic genre as black is heavily associated with the gothic genre and beasts are more reminiscent of darker genres such as the gothic genre. A mysterious atmosphere is essential in a detective novel because it adds tension and suspense. This is through the way it is portrayed as mysterious, very little known and secretive. Conan Doyle uses layer upon layer of description on the moor when Watson first sees it. A tinge of melancholy lay upon the countryside. This quotation evidences his use of description for the moor. He also uses powerful adjectives to describe certain features of the moor such as, Jagged and sinister hills. This quotation conjures a sense of coldness and makes the reader feel unwelcome to the sudden change of scenery. The seemingly perfect crime sees Stapleton as the villain through out the story. However no one suspects him but Holmes and this is revealed when Holmes is found by Watson. Conan Doyle presents Stapleton as a poor yet clever man in the hound of the Baskervilles. The usage of certain words provokes this idea: dressed in a grey suit and a straw hat. He compares, to other villains of the detective genre, very secretive and as unsusceptible as can be. This is shown by the way he hides his past life to everyone, but he only tells them he lost money with the school he had. Other villains would either make themselves known but be hard to catch, or secret but leading the detective towards them and finally slipping up somewhere along the line. It links to the implication of justice always prevailing because in the end the criminal is nearly always caught. The role of miss. Stapleton as an accomplice would have been quite normal to a Victorian audience. This is because women were considered the weaker gender and men bossed around women. Conan Doyle is linking these ideas on the role of women through the use of miss. Stapleton in the book. Miss. Stapleton, when found at the end, is shown to have been beaten if not carrying out orders by Stapleton and left alone if obeying Stapleton. Oh, this villain! See how he has treated me! she shot her arms out from her sleeves, and we saw with horror that they were all mottled with bruises. This is evidence that Stapleton beat his wife. Most detective fiction is expected to be formed around the idea of who dunnit? This is true in along came a spider as Alex Cross tries to find a villain after another villain. However in hound of the Baskervilles it isnt the case as Holmes and Watson are also saving Sir Henry from an untimely death. You would expect the idea of who dunnit? to be the centre theme around the story, creating tension and suspense fitting for it. This makes Holmes seem heroic, Holmes had emptied five barrels of his revolver into the creatures flank. I think the hound of the Baskervilles is very sensational novels within the detective genre because it is where Holmes and Watson meet a foe worthy of there steel. I think the mysterious atmosphere is particularly effective because it creates the tension and suspense it needs to create and it holds secrets, leaving the question in your mind, Whats it hiding? also I think the mysterious atmosphere is effective because of its unique base for the whole of the story. No literary figure has a stronger hold on the public imagination than Sherlock Holmes. This is shown in the essay.

Becoming a Teacher: My Philosophy on Education Essay examples -- Teac

Becoming a Teacher: My Philosophy on Education When did education start? Do we still need education to function as a society? How long will public education remain a kindergarten through twelfth grade curriculum? The answers to these questions will vary from person to person, but they will all have one common theme: education will and must go on! Education is the key to a progressing society. Education is the only way that knowledge is passed from generation to generation. In this paper I will explain why I wish to teach, my educational goals, and the philosophy that I will use during my teaching career. Becoming a teacher in today’s society is not the most choice among our society. People tend to demean the profession of teaching in that it does not pay enough money. I have been told that I should not become a teacher for this reason and even considered not becoming a teacher because of the poor pay. Now, I would have to disagree with this precept. Teaching is probably one of the most underpaid careers that one could pick; but for me I believe that the personal satisfaction outweighs the pay. Teachers are not going to have the biggest houses or the most expensive cars, but truthfully I do not strive for those possessions. I believe that teaching requires great skill and professionalism. In order to teach someone, you must know the subject that you are teaching well. The field of education is not for everyone; it takes a special person that has a genuine love for children and can get students motivated to learn. My love for a subject, secondary mathematics, and my natural desire to help others are the reasons that I wish to become a teacher. From th... ...as a philosophy because I believe that a student should have to learn ideas that have lasted over centuries and use the ideas within the classroom. For example, a student should have to use the rules for derivatives in calculus because they have lasted over time. When I become a teacher I hope to incorporate all of these philosophies into my classroom. Teaching is not a profession that today’s society would call a rewarding profession because of the demands and poor salaries. I struggled with not making enough money for a little while, but have since put that behind me. I realize I can change some students’ lives. This is more rewarding than money and will make an impact on my students for years and years to come. I strive to be the best teacher that I can be so that my students will enjoy school and maybe, one day, want to become a teacher too.

Mod a Essay Hsc

Analyse how Who’s Afraid of Virginia Woolf? and A Room of One’s Own imaginatively portray individuals who challenge the established values of their time. Literature is an evaluation of the established values of their time, a manifestation of the composer’s perspectives regarding key issues that characterised their zeitgeist. This is evident in Virginia Woolf’s polemical essay, A Room of One’s Own (1929), in which she portrays male anxiety towards women during the post-WWI period.Similarly, Edward Albee’s 1962 satirical drama, Who’s Afraid of Virginia Woolf (Afraid) projects an analogous fear of female dominance, although in post-WWII American society. In a further comparison, both composers focus on the importance of wealth in society, where Woolf considers the significance of material security with regards to fiction writing in English society in the 1920s, whilst Albee criticises materialistic values in relation to social conformity in American society in the 1960s.Since the late 19th century female suffrage movement that empowered women, men feared being displaced from their traditional positions of authority. Woolf conveys these established patriarchal values through A Room of One’s Own, in her examination of the phallocentric literary sphere of the 1920s, where anybody could write literature, â€Å"save they [were] not women†. The symbolic title highlights women’s need for material security as a pre-condition â€Å"to writ[ing] fiction†, arguing that historically, men have denied women opportunities for achieving economic equality.Woolf’s ironic use of simile reinforces her hypothesis that â€Å"if only Mrs Seton †¦ had learnt the great art of making money and had left their money, like their fathers †¦ to found fellowships†. This highlights the historical lack of educational and financial opportunities for women. Furthermore, Woolf blames patriarchal value s for institutionalising discriminatory practices in English society. At the fictional â€Å"Oxbridge†, a Beadle indicates that â€Å"this was the turf; there was the path†, symbolising the established gender exclusion in academia. Her thoughts interrupted, she expresses disappointment â€Å"as they had sent my little fish into hiding†.Through this metaphor, Woolf implies that men’s â€Å"protection of their turf† denied women opportunities for creativity, portraying an ingrained contextual fear of female intelligence that was perceived as encroaching upon male dominance in every sphere of endeavour. Albee’s contemporary political satire, Afraid, also portrays male and female rivalry, incorporating textual features such as intense drama and blunt stage directions to convey the fierce gender conflict of his time. Whilst both texts were composed in post-war periods, Albee’s drama savagely critiques the established societal values of sma ll town American society in the 1960s.This is evident when Martha criticises George as â€Å"a great†¦big†¦fat†¦FLOP! † unable to rise up the departmental ranks. The use of crude colloquial language and aggressive stage directions accentuates her frustration as she â€Å"spits the word at George’s back†, reflecting Martha’s authority over him, which symbolises women’s growing influence in mainstream American society in the 1960s. Furthermore, Martha recalls the â€Å"boxing match we had† in an attempt to humiliate him, an allegory for the gendered power struggle.George reacts negatively, and to regain superiority, he â€Å"takes †¦ a short-barrelled shotgun †¦ aims it at †¦ Martha †¦ [and] pulls the trigger†. Coupled with this stage direction, Albee’s use of exclamatory punctuation in George’s childish point-scoring of â€Å"Pow! You’re dead! † signifies his desperation to recover his masculinity. In this way, Albee portrays the constant quarrelling between George and Martha as a symbol of anxiety and dysfunctionality in America in the 1960s, depicting the national paranoia associated with the Cold War and nuclear warfare.Just as Woolf and Albee represent the gender conflict in post-war societies, they also criticise the wealth inequality and the greed of their time. Whilst Woolf reasons that discrimination against women often prevented them from writing fiction, she also considers that poor material conditions likewise limited their contribution to literature. Through the use of the modal verb to emphasise the importance of financial security, she expresses her contention regarding material needs that â€Å"a woman must have money and a room of her own if she is to write fiction†.The anecdote of the tailless cat is symbolic of the distractions that interrupted women in their writing, thus Woolf highlights the need for the privacy of a room of one’s own in order to â€Å"think of things in themselves†. Furthermore, she decides that â€Å"500 pounds a year for ever †¦ seemed infinitely more important† than the suffrage movement as it was more conducive to her writing fiction. No longer working â€Å"like a slave†, Woolf’s simile highlights that â€Å"food, house, and clothing are forever mine†, reflecting the value of financial security in English society in the 1920s.Thus, Woolf sustains her thesis and highlights the importance of money and privacy, conveying the established attitude that a secure income ensured creative and intellectual freedom in English society. Alternatively, Albee’s political allegory reflects his criticism of the materialistic mores of American society in the 1960s, portraying human shallowness in a dramatic appraisal of the American Dream, an idea which has resonated within society since the founding of America.It epitomises a conservative nati onal ethos that entailed the possibility of universal prosperity and the pursuit of happiness for all, thus many individuals sought to increase their wealth and social status. This materialistic idea is conveyed through Nick, who crudely boasts, â€Å"my wife’s got some money†. In characterising Nick as the typical shallow ‘jock’, Albee undermines this concept of the ‘self-made man’, dramatising a soulless aspect of the American Dream. Additionally, Martha criticises George’s salary, mirroring the contextual attitudes of middle-class America, when status was associated with high income levels.She sneers at George, advising him not â€Å"to waste good liquor†¦not on your salary†. Here, Martha’s mocking tone captures her disappointment as she â€Å"hope[s] that was an empty bottle†. However, the â€Å"empty bottle† also symbolises her despair as George is only â€Å"on an Associate Professor’s sala ry†. This brings to mind the social importance of income but unlike in Woolf’s society, where women’s economic security may liberate creativity, here economic success serves as a status symbol within the American Dream.Thus, literature, with its distinct forms and features, is influenced by varying contexts, portraying similar concerns that enhance our understanding of the established values of the time. Woolf’s polemic, A Room of One’s Own (1929), may differ textually and contextually from Albee's Who’s Afraid of Virginia Woolf (1962), which portrays a savage attack on American values, but both texts reflect male fear of women due to their growing influence in post war societies. Furthermore, they focus on the importance of wealth with regard to literary creativity in English society in the 1920s and the realisation of the American Dream during the 1960s.