Project Management Challenges Research Proposal

Project Management Challenges - Research Proposal Example For Project Managers to work effectively, collaboration with Functional manager is mandatory. Let’s understand who functional managers are and how they differ from project managers. Functional managers are those who are managing the core operations of the business and are appointed permanently, usually for a longer period of time. On the other hand, Project Managers are appointed for a particular task such as building a new branch, constructing a port etc. Project Managers are usually appointed for a particular period of time whose job is completed after the completion of the project. Any organization may choose from various combinations of power strategy that are assigned to the Functional Manager and the Project Manager. These types are Weak Matrix, Balanced Matrix, Strong Matrix and Projectized (JOSH, 2009). Project Managers might be dependent on Functional managers for various things. For example, Project managers usually borrow staff from functional managers when they are short of team members. Sometimes, the project manager is a functional manager too where he/she performs the additional job of a project manager. For example, a restaurant business wants to expand its business in another city. The CEO might appoint the Operation Manager of the main branch, the additional task of Project Manager for building the design, processes, menu, hiring employees etc of the new branch in this new city. Appointing your own Functional Manager as the Project Manager is helpful in various ways. The Project Manager, in such cases, knows the culture, system, processes, vision, and mission of the company. It will also save cost as hiring a new project manager will cost a hefty amount and your own functional manager might not need that much amount. It is necessary for functional management to effectively coordinate, communicate and work collaboratively with the project management team. Project Managers might need a lot of information from the functional managers for v arious things. The authorities given to project managers are usually restricted, especially the cost and expenditure control, legislative decision making etc for the reason that Project Managers might not have sufficient experience of handling specific tasks. Thus, usually, financial controls are not given to the PM. However, many Project Management specialists say that they should have control over costs and expenditure within a specified and agreed limit. This should be one reason why Functional Manager must collaborate closely with the project manager and understand their compelling issues. The ultimate aim of a Project Manager is to make happy the project sponsors and all stakeholders included through efficient completion of the project without consuming an excessive amount of money and time.  

Issues of the Service Plan Development Essay Example | Topics and Well Written Essays - 1500 words

Issues of the Service Plan Development - Essay Example Therefore, Salama did not have much interest at first in development of the service plan. However, after much convincing she agreed to participate with me in the process of developing the service plan. The fact that she agreed to contribute to the making of the service plan together with her articulation and wise contribution makes me think that the process of making the service plan was effective. This is because the ideas and wishes of my client were encompassed in the service plan including identifying issues, setting goals, developing action plan, setting timelines, and estimating the outcomes. However, since Salama was a new migrant with no legal documents to work in Canada, we realized that we needed to look for the documents from the relevant authority before she could start working as we had planned. Thus, in future I would ensure that my client has the necessary documents to enable work according to the plans and therefore, avoid misses in meeting the timelines set. Further, because of the nature of my client having children and having no one to babysit them, we had to look for a babysitter first before she started looking for work. This was also an oversight in our planning because it delayed meeting certain goals and timelines and where we managed to meet timelines and outcomes were not as expected in our plan. Since I was the expert in the area of service planning, I made most of the suggestions that were included in the service plan. Salama on her part could only expound and seek clarification on what each goal implied in respect of her welfare. Nevertheless, her contribution was highly valued especially in the area of work and how she wanted to meet the goals that were set in the timelines. On my part, I believe that the goals that were set in the service plan are within reach of my client since they are all directed towards facilitating her

Islamic Equity Investment Risk and Return Behaviour

Islamic Equity Investment Risk and Return Behaviour Islamic equity investments deal with the application of Shariah in stock selection in fund management. Islamic equity investment is a new and emerging concept in fund management and posed a slow growth compared with a fast paced growth in Islamic fixed income Sukuk markets and Islamic banking in the current decade. However Islamic equity investments contain a significant potential to generate above average risk adjusted returns than conventional equity investment as discussed in this paper. The thesis argues about the risk returns behavior of Islamic equity investments by analyzing the risk return behavior of Karachi Meezan Index, an Islamic index traded at Karachi stock exchange, over the period of two and a half years. Karachi Stock Exchange 100 index and Karachi Stock Exchange 30 index was used as benchmarks to find out if there are any significant differences in the returns volatility of KMI30 and KSE 100. The complete period was also divided into bull and flat periods and eac h period is analyzed to further augment the research. Our findings provide strong evidence to reject the notion that Shariah Compliant investment perform poorly than conventional equity investments. In fact our finding supported the assumption that Shariah Compliant Equity Investments can deliver better returns than conventional investments given the same level of risk. Chapter 1 Introduction In the past few years there has been remarkable growth in the field of Islamic finance. New products are being developed on a consistent basis in capital markets which comply with the Shariah. The main distinguishing feature of Shariah Compliant Stocks is their low risk characteristics which has induced many risk averse investors into investment in Shariah complaint stocks and equity funds. According to Ernst Young’s 2010 Islamic funds investment report, currently there are approximately $52 billion fund assets under management in the Islamic fund industry which is still a small proportion of the total assets under global fund management which are worth $22 Trillion in 2010. Total Shariah compliant assets now exceed $1 trillion worldwide because of the fast faced growth in Islamic finance during the current decade. Currently Islamic funds only constitute about 5.5% of total Islamic finance investments which signifies the potential of growth in this industry in coming years. From July 2007 to Nov 2009, MSCI World Islamic Index outperformed the MSCI World Index Standard Core in terms of variability of returns which shows that Shariah complaint stocks generate more returns in high volatility period compare to conventional stocks. In an Islamic equity fund, the amounts are invested in the shares of Shariah complaint stock companies. The profits are mainly achieved through the capital gains by purchasing the shares and selling them when their prices are increased. Profits are also achieved by the dividends distributed by the relevant companies. It is obvious that if the main business of a company is not lawful in terms of Shariah, it is not allowed for an Islamic Fund to purchase, hold or sell its shares, because it will entail the direct involvement of the shareholder in that prohibited business. In September 2008, Karachi Stock Exchange with the collaboration of Meezan Bank launched a new index called Karachi Meezan Index comprising of 30 companies. The distinguishing characteristic of this index is its Islamic nature in which selected companies will be fully Shariah-complaint. Companies will be selected in the index based on their liquidity in the stock market along with compliance with Shariah principles. These Shariah principles are formulated by the Shariah advisory council of Meezan bank which comprises distinguishing Islamic scholars. The objective of KSE-Meezan Index (KMI) is to serve as a gauge for measuring the performance of Shariah compliant equity investments. It may also act as a research tool for decisions in strategic asset allocation according to Shariah besides tracking performance of Shariah compliant equities; its construction will increase investor trust and enhance their participation. Stock Screening Requirements for KMI-30 Index Shariah compliance of stocks shall be done under the guidance of qualified and reputed Shariah experts. For stocks to be Shariah compliant, it must meet ALL the six key tests given below. Business of the Investee Company: Core business of the company must be HALAL and in-line with the dictates of Shariah. Hence, investment in securities of any company dealing in conventional banking, conventional insurance, alcoholic drinks, tobacco, pork production, arms manufacturing, pornography or related un-Islamic activities is not permissible. Debt to Total Assets: Debt to Asset ratio should be less than 40%. Debt, in this case, is classified as any interest bearing debts. Zero coupon bonds and preference shares are, both, by definition, part of debt. Non-compliant Investments to Total Assets: The ratio of non-compliant investments to total assets should be less than 33%. Investment in any non-compliant security shall be included for the calculation of this ratio. Non-complaint Income to total revenue – Purification of Non-compliant: income the ratio of non-compliant income to total revenue should be less than 5%. Total revenue includes Gross revenue plus any other income earned by the company. This amount is to be cleansed out as charity on a pro rata ratio of dividends issued by the company. Illiquid Assets to Total Assets: The ratio of illiquid assets to total assets should be at least 20%. Illiquid asset, here, is defined as any asset that that Shariah permits to be traded at value other than the par. Net Liquid Assets to Share Price: The market price per share should be greater than the net liquid assets per share calculated as: (Total Assets – Illiquid Assets – Total Liabilities) divided by number of shares. *Courtesy of Karachi Meezan Index Brochure retrieved from Karachi Stock Exchange Website Rationale of the Study Islamic equity investment funds pose immense growth potential in the future mainly on account of the following reasons: It attracts risk averse investors who previously ignore equity investments because of Islamic Equity’s low risk characteristics It attracts new Muslim investors who previously were wary of investing in stock markets because of non-Shariah compliance Therefore a study needs to be conducted which examines the risk return behavior of Shariah complaint stocks so that investors and general people will have a better idea about the risks profits which are inherent in Shariah complaint shares. Research Questions The study will help in answering the questions such as: Is there a difference in returns of KMI30 and KSE 100 indices? Is there a difference in the volatility of KMI30 and KSE 100 indices? Is KMI30 index giving more or less risk adjusted returns compared to KSE 100 index? How much variation is explained by KSE 100 index in returns of KMI30 index? Limitations of the Study KMI30 index represents the risk return behavior of only 30 blue chip Shariah compliant stocks. In order to have a better comparison with the KSE 100 index, a portfolio consisting of all the stocks from KSE 100 which comply with Islamic screening principles should be constituted and the return volatility attributes of this portfolio should be compared with KSE 100 index because a difference in returns between both indices can be because of superior judgment in the selection of stocks in KMI30. Chapter 2 Literature Khan (1998) studied the modern practices in commodity, currency and corporate stock trading in the light of Islamic economic framework and stated that under Islamic principles, Mudarabah or Shirakah certificates can be traded in stock exchanges. However there is no concept of preferred equity in Islamic finance as it Riba which is forbidden under Islam. Khan stated that liability towards losses of the organization need to be met which may have accumulated over a period in order to sell or disinvest shares of that organization which implied that each shareholder has a liability for cumulative past losses as well as current losses in proportion to the capital invested. Khan (1998) proposed a model of stock valuation which incorporates the Islamic principles that intrinsic value of shares should provide the prospective investor a fair amount of information about past performance of organization. Iv = intrinsic value of shares Pv = par value of shares Ri = Profits, Reserves etc L = losses S = No. of Share Lewis (2010) examined the current and historic structure and performance of Islamic investment funds and found out that Islamic investments have grown quickly over the past few years and now there are approximately 650 Islamic funds operating globally. Lewis also discovered that in the past Islamic funds have focused more on negative forbidden screening principles instead of focusing on both the negative and positive screening methodologies like socially responsible funds that focus primarily more on investments in companies which play a part in human welfare. However these Socially Responsible Investments (SRI) funds performed slightly poor compared to Islamic funds because Islamic funds invested a significant portion in energy companies who enjoyed profitability because of rising oil prices, SRI funds do not invest large portions in fossil fuel energy companies primarily because of their futile side effects on environment. Nik Maheran and Masliza (2008) analyzed the performance of Islamic mutual funds at Kuala Lumpur Stock Exchange to investigate if these funds underperform or over perform the market index using average return on mutual funds, standard deviation of weekly returns, coefficient of variation, Treynor and Sharpe index. They found out that most of the funds achieved a lower return than market from the period 2002 until 2006. However in terms of risk level Islamic mutual funds showed less risky behavior compared to the market since the betas of Islamic mutual funds was less than one. Rennebook, Horst and Zhang (2007) critically reviewed the available literature on socially responsible investments and concluded that a primary reason for low returns from socially responsible funds could be the multi-task nature of portfolio managers who pursue both financial and social objectives. They also found out that if investors avoid investments in unethical/asocial businesses, than they may require a low rate of return than other investors who do not show any similar type of preferences. Hussein (2007) analyzed the returns of FTSE Global Islamic index and Dow Jones Islamic Index from 1993 till 2004 and compared them with the returns of Dow jones world index and FTSE All world index. He found out that application of Shariah screening doesn’t adversely impact on Islamic indices performance as Islamic indices performed as well as their counterparts over the entire period. Hussein (2007) stated that Islamic indices yield statistically positive returns in bull market period though Islamic indices underperform the all world indices in the bear period and in the long run have a superior performance compared with counterparts in entire market period. Abdullah, Hassan and Mohammad (2007) compared the performance of Islamic and conventional mutual funds in Malaysian capital market with the help of Sharpe index, adjusted Sharpe index, Jensen Alpha, timing and selective ability and found out that Islamic funds are less risky than conventional funds and both Islamic and conventional funds have diversification levels which are less than 50 per cent of the diversification level of the market portfolio. They discovered that Islamic funds performed better than conventional funds during bearish periods while conventional funds performed better than Islamic during bullish periods and concluded that Islamic funds can be used as hedging tools. Hussein (2005) compared the performance of Dow Jones Islamic market index and FTSE Global Islamic index and benchmarked it against their counterparts, Dow Jones World index and FTSE Global Index respectively, using parametric t-statistic and non-parametric signed rank test. Monthly returns data had been used ranged from 1996 2004 and the periods had been divided into bull and bear return phases to make more meaningful conclusions from results. Hussein (2005) found out that Dow Jones Islamic Index outperformed its counterpart in the entire period (1996 – 2004) and bull period. The mean monthly return of Dow Jones World Index was higher than the DJ Islamic index over the entire bull period which indicated that the Islamic index has greater volatility in comparison with DJ world index. Contrary to this, Dow Jones Islamic index fails to maintain its better performance over the bear market phase where the DJ world index gives better returns. In case of FTSE indices, FTSE Global Is lamic index outperforms FTSE All world index in the entire and bull periods. However FTSE Islamic index underperforms FTSE world index over bear period. Hussein (2005) also found out that the beta of both Islamic indices is greater than one and higher than their counterparts which imply that both Islamic indices are riskier than their counterparts. Hence Hussein (2005) stated that the application of Shariah screening principles has no adverse effect on Islamic indices performance over the years and concluded that Shariah investing offer superior performance compared to unscreened portfolios. Albaity and Ahmad (2008) examined the performance of KLSI, A Shariah Compliant Index at Bursa Malaysia, and benchmarked it against KLCI which is a conventional stock market index at Bursa Malaysia using measures of risk adjusted returns and found out that KLCI is outperforming KLSI. Albaity and Ahmed (2008) also found out that KLCI has a higher beta as evident from conventional Non-Islamic indices and that in the short run both indices move in the same direction and tend to cause each other. Hence they concluded that there is no significant difference in the returns and movements of both indices. Hakim and Rashidian (2002) applied Islamic equity screening principles on Wilshire 5000 index and created a Shariah Compliant Portfolio and compared the return characteristics of the created Wilshire Islamic portfolio and Dow Jones Islamic market index portfolio with the parent Wilshire 5000 index and found out that the reduced diversification characteristic of newly created portfolio has not adversely affected its performance when compared with parent Wilshire 5000. Hakim and Rashidian (2002) examined the causality between the Islamic index, the Wilshire 5000 and the Tbill rate and found out that the Islamic index is influenced by factors independent from the broad market or interest rates which are contrary to the widely accepted notion that Dow Jones Islamic Index exhibits high correlation with broad market. They concluded that such correlation is temporary and false Sauer (1997) measured and analyzed the average monthly returns and variability, Jensen Alpha and Sharpe performance of the Domini 400 Social index portfolio and benchmarked it against the performance of two unrestricted portfolios (SP 500 and CRSP value weighted market indexes). Sauer (1997) discovered that the application of socially responsible strategy in stock selection does not impact the investment performance adversely. He concluded that the potential performance costs of implementing socially responsible criteria, as represented by the performance of Domini social index are negligible. Sauer (1997) also stated that the performance of Domini Social equity Mutual fund compares favorably to the performance of Vanguard SP 500 index. Bauer, Koedijik and Otten (2004) analyzed the performance of 103 German, UK and US ethical mutual funds and found no indication of substantial difference in return behavior between ethical and conventional mutual fund returns after controlling for factors like book to market and size. Bauer, Koedijik and Otten (2004) also concluded that ethical mutual funds are typically less exposed to market variability compared to conventional funds. Hamilton, Jo and Statman (1993) studied 32 socially responsible mutual funds and compared their returns with a portfolio of 177 conventional mutual funds. They found out that market do not price social responsibility characteristics so investors can expect to lose nothing by investing in socially responsible mutual funds; social responsibility factors have no effect on expected stock returns or companies’ cost of capital. Derigs and Marzban (2009) analyzed SP, DJIM, FTSE, MSCI and HSBC Shariah Complaint indices and stated that current Shariah compliant strategies result in much lower portfolio performance than portfolios without considering Shariah Compliance. They suggested that the return from Shariah complaint strategies can be increased by making Shariah compliance an attribute of portfolio constructed rather than measuring compliance on as asset level. Derigs and Marzban (2009) argued, Funds are investment vehicles, which are financially independent of the institutions that establish them. Therefore, a fund takes the form of an independent company, such as a limited liability company (Norman, 2004), in which investors act as shareholders. So they proposed that with respect to compliance a fund which itself invests in multiple companies has to be evaluated in the same way as a conventional independent company. Hassan and Antoniou (2006) examined the potential impact of Islamic screening restrictions on investment performance by comparing the performance characteristics of a diversified of Islamic screened stock indices with conventional benchmarks (Data stream Global Index) and the degree of correlation and volatility in price movements between both indices. Hassan and Antoniou (2006) concluded that the impact of stock screens is closely related to the performance of stock markets and further stated that any argument that Islamic equity investments are less profitable than conventional types of investments is questionable which is supported by relatively major differences between Sharpe and Treynor measures and significant positive Alpha over the positive returns period when the Dow Jones Islamic Market Index outperformed the Data stream Global Index. Chapter 3 Methodology This section emphasizes the research methodology and the type of data that has been used in this research. The research is quantitative in nature as statistical and financial models are being used to test the STOCK INDEX time series for volatility and return. The data which is going to be used in the research is secondary in nature and in the form of time series. Daily index values of Karachi Meezan Index (KMI-30), KSE-30 index and KSE-100 index from Karachi stock exchange are being used as secondary data from December 15, 2008 till March 11, 2011. Daily logarithmic returns of all indices are being calculated such that: Where is the raw return for index i for the time t, refers to the price of index i at time t, and is the price of index i at time t-1. A descriptive statistical analysis was performed on the calculated daily logarithmic returns using to calculate mean, standard deviation, standard error, median, variance, kurtosis, skewness, maximum and minimum values of all three indices for the whole period from December 15, 2008 to march 11, 2011. Also Geometric mean for all three indices was also calculated as it contains the effect of compounding. Coefficient of variation is calculated to measure the variation in each index given its return. A correlation matrix was being calculated using excel spreadsheet to find the degree of correlation between KMI-30, KSE-30 and KSE-100 indices. A linear regression analysis has been performed using the returns of KMI-30 index as dependent variable and returns from KSE-100 as the independent variable to estimate the coefficient of determination (R-Square) and beta of KMI-30. Another linear regression was performed using KSE-30 as the dependent variable and KSE-100 as the market independent v ariable to estimate the beta of KSE-30 and coefficient of determination. The regression equations were as follows: Where is the intercept, is the beta of the stock index, and are the returns on KMI30 and KSE30 indices respectively and is the return on KSE100 regarded as the return on the stock market. Risk ratios which are used in the analysis to compare the risk reward profile of KMI30 with KSE 30 and KSE 100 are Alpha, Beta, Standard Deviation, R-Squared, Sharpe Ratio and Treynor ratio. A paired t-test was performed to check the hypothesis of difference in means of KMI30 and KSE 100 index because nearly all of the stocks of KMI30 are part of KSE 100 hence dependent. Also F-test was performed to check the difference in variances of KMI30 and KSE 100 indices assuming that the returns from both indices are normally distributed. The whole period from December 15, 2008 to March 11, 2011 is than divided into two bull periods and one relatively flat period to find out the risk-return profile of KMI30 and KSE 100 in these periods. The first bull period is from January 15, 2009 till October 15, 2009 while the flat period is from October 15, 2009 till October 15, 2010. The second bull period is considered from October 15, 2010 to January 15, 2011. A descriptive analysis was again performed on these bull and flat periods along with similar paired t-tests, F-tests, linear regression and correlation matrices. Sharpe ratio, Treynor ratio, Jensen Alpha, Beta and S. Deviation were also calculated for these bull and flat periods. Chapter 4 Results Analysis Descriptive Statistical Analysis Descriptive analysis shows that KMI30 index showed very good daily mean returns of 0.1014% since Dec 15, 2008 till March 11, 2011. KMI30 index started in September 2008 and considering the mean returns, it is a very good performance by a stock exchange index especially when comparing with geometric mean of KSE 30 returns of 0.0227% and KSE 100 daily returns of 0.0451% in the same period. The standard deviation of KMI30 index daily returns was 1.5051% which is considerably less than its counterpart KSE 30 index however more than the S. Deviation of KSE 100 index as expected because of large diversification effects of stock returns in KSE 100. The coefficient of variation for KMI30 index is 15.97 compared to 33.36 for KSE 100 and 74.593 for KSE 30 which clearly indicates that KMI30 is less risky when compared to both other indices per unit of return. The excess kurtosis for KMI30 for the complete period is 2.58 compared to 2.13 for KSE 100 and 2.29 for KSE 30 which shows that all three indices are more peaked than normal distribution and are leptokurtic. All three indices are negatively skewed which shows that most of the returns are negative. As indicated by higher standard deviations of KSE 30 index, its maximum and minimum return are greater than KMI30 maximum and minimum returns. The maximum one day return for KMI30 during the whole period was 5.3% while the minimum return was -5.19%. From January 15, 2009 to October 15, 2009, KSE showed a bullish trend. The geometric mean of KMI30 index daily returns during this first bullish period was around 0.31% much higher than 0.24% of KSE 100 and 0.28% of KSE 30. However the standard deviation of KMI30 index is 1.93% less than 1.88% of KSE 100 and 2.35% for KSE 30. This shows that not only KMI30 beat KSE 100 and KSE 30 in returns but also remained less volatile over the bullish period when compared to KSE 100 and KSE 30. The kurtosis of all three indices is slightly over 3 (Excel displays Excess Kurtosis) which shows that all three indices are mesokurtic and have a kurtosis equal to that of normal distribution. KMI30 showed a slight negative skewness of -0.0195, while KSE 100 showed positive skewness of 0.04058 in this bullish period. From October 15, 2009 to October 15, 2010, KSE showed a relatively flat period of returns with KMI30 index showing a mean geometric return of 0.0498% while KSE 100 and KSE 30 showed a geometric return of 0.017% and –0.0249% respectively. The KMI30 again outperformed KSE 100 and KSE 30 in returns over this flat period. KSE 30 had negative mean returns in this period. KMI30 also showed low standard deviation of 1.088% compared to 1.1049% of KSE 100 and 1.3866% of KSE 30. Hence KMI30 again outperformed KSE 30 and KSE 100 index in this relatively flat period in terms of returns and low volatility. KMI30 had an excess kurtosis of 2.18 more than 1.79 for KSE 100 but less than 2.26 of KSE 30. Hence all three indices have leptokurtic distribution with high peaks than normal distribution. KMI30, KSE 100 and KSE 30 all showed negative skewness in this flat period. From October 15, 2010 till January 15, 2011, KSE showed a relatively bullish trend with KMI30 showing a daily return geometric mean of 0.36% against 0.3% by KSE 100 and 0.33% by KSE 30 index. However KMI30 index showed a higher daily standard deviation of 0.86% compared to 0.73% of KSE 100. KMI30 also showed a more leptokurtic distribution compared to KSE 100 as the excess kurtosis of KMI30 was around 0.497 compared to 0.262 for KSE 100. During this bullish period all three indices showed a positive skewness with impressive returns in a short span of time. Over the whole period, from December 15, 2008 to march 11, 2011, KMI30 showed impressive annualized returns of 28.825% compared with KSE 100 and KSE 30 which showed annualized returns of 11.9367% and 5.85% respectively. The annualized standard deviation for KMI30 index was a little higher than KSE 100 but lower than that of KSE 30. Also the total return over this two and a half year period by KMI30 was quite impressive and 2.5 times more of KSE 100. KMI30 had a total return of 75.11% from Dec 15, 2008 to March 11, 2011. Sharpe ratio is only positive for the KMI30 because the other two indices had returns less than 12 month Treasury bill rate. Jensen’s alpha for KMI30 was 16.8687 which indicated the average return on KMI30 over and above the CAPM predicted return of 11.9566%. KMI30 also had a beta lower than one which shows that KMI30 is less volatile than the overall market. KSE 30 had a beta of greater than one showing that it’s more volatile than the market KSE 100 in dex. Correlation matrix shows a strong correlation of 92.933% of KMI30 and KSE 100 over the whole period from December 15, 2008 to March 11, 2011. KSE 30 showed a less strong correlation of 87.48% in the same period with KSE 100. In the first bullish period, KMI30 however had a rather less strong correlation with KSE 100 compared to the whole period correlation described above. In the flat period from Oct 15, 2009 till Oct 15, 2010, KMI30 had a very strong correlation with KSE 100 index. In second bullish period, from Oct 15, 2010 to Jan 15, 2011, KMI30 again had a relatively less strong correlation with KSE 100 as already happened in first bullish period. It looks like KMI30 is showing less strong correlation with KSE 100 in bull markets and very strong correlation with KSE 100 in relatively flat periods which shows that KMI30 shows returns which are less correlated with market in bull periods and give more correlated returns in flat market periods. In both bull periods, Jan 15, 2009 – Oct 15, 2009 and Oct 15, 2010 – January 15, 2011, KMI30 outperformed KSE 100 and KSE 30 index with impressive margins. KMI30 gave a total return of 81.68% in the first bull period, 13.24% in the flat period and 23.67% in the second bull period. KSE 100 gave total returns of 57.3%, 4.34% and 19.92% in the same periods. KMI30 also showed a relatively same standard deviation as the KSE 100 except for the second bull period when there was a large difference in S. Deviation of KMI30 and KSE 100 returns. What this means is that KMI30 is giving higher returns than KSE 100 while having the same risk as KSE 100 also evident by Sharpe ratio. In first bull period, KMI30 had a beta of 0.927 compare to 1.077 of KSE 30. In the flat period, KMI30 had a beta of 0.948 while KSE 30 had a beta of 1.06. In the second bull period, KMI30 and KSE 30 showed an irregular trend when the beta for KMI30 increased over 1 while beta for KSE 30 dropped less than o ne. Regression Analysis A regression analysis was performed on the daily returns of KMI30, KSE 30 and KSE 100 for the complete period to explain the variation in the returns of KMI30 and KSE 30 index by using KSE 100 as the independent market index. The regression equations are as follows: Equation 1 Equation 2 The R-Square for the first model of KMI30 returns come out to be 86.366% which tells us that 86% of the variation in KMI30 index is caused by KSE 100 index. The R-square for the second KSE 30 model was 77% which shows that KSE 100 causes more variation in returns of KMI30 than KSE 30 index. The intercept of first equation is 0.000523179 which shows that when the daily market return is zero, than KMI30 has a daily return of 0.0523179%. The slope of the first equation, beta of KMI30 index, tells us that a one percentage change return in KSE 100 index causes a 0.9752 percentage change return in KMI30 index which shows low volatility in KMI30 compared to KSE 100. The slope and intercept for the KSE 30 model are 1.1018 and -0.0216% respectively which indicates that KSE 30 is more volatile than KSE 100 (has a beta higher than 1) and that a zero return from market will causes a -0.0216% daily return fall in KSE 30 index. Hypothesis testing The first hypothesis was to test that whether there are any significant differences in daily returns of KMI30 and KSE 100 indices for the whole period from December 15, 2008 to March 11, 2011. Since all the stocks which are part of KMI30 index are also a part of KSE 100 index which indicates that both samples are dependent hence paired t-test was employed to test the differences between returns of both indices. The null and alternative hypotheses are given as: Ho: The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is equal to zero H1: The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is not equal to zero The paired t –test was performed on a 5% level of significance with 552 degrees of freedom. The calculated t statistic was 2.310548072 which was greater than the critical value of 1.96. Hence the null hypothesis was rejected and the conclusion was that the difference in mean daily returns of KMI30 and KSE 100 returns is different from zero. The second hypothesis tested whether there are any significant statistical differences in returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009. The same paired t test was employed to test the difference in returns in this bullish period using a significance level of 5%. The null and alternative hypotheses are given as: Ho: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is equal to zero H1: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is not equal to zero The calculated t-statistic was 1.2773207 less than the critical value of 1.972 at 5% level of significance with 187 degrees of freedom. Hence the null hypothesis was failed to reject and it was concluded that there is no difference in the returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009.

Why The Crucible Remains Important Today Essay -- Essay on The Crucibl

Why ‘The Crucible’ Remains Important Today For a story of any kind to have any relevance or meaning some 50 years after being written and indeed almost 400 years after it was set, it needs to contain themes and ideas that have been uniformly felt and experienced by people from all walks of life as well as continuing to speak to and have meaning to new and changed generations of people. Years after being written, Arthur Miller’s ‘The Crucible’, still successfully speaks to numerous generations of people, that although live in different countries, under different governments and belong to different peer groups, experience the same issues that the characters of ‘The Crucible’ experienced as well as the same issues that were experienced by Arthur Miller at the time of writing. ‘The Crucible’ effectively addresses not only the issue of conformity found in all social groups, it illustrates the remarkable amount of power a select group of people may possess, purely because it is they who are entitled to interpret the various law and morals by which people live as well as the numerous injustices that continue to torment mankind. A strong theme in ‘The Crucible’, conformity is an idea or even an issue that has been present and has plagued mankind for generations. The indisputable need to conform to the Church’s view and those of its ministers is gravely evident in ‘The Crucible’ and causes much personal conflict in the play’s characters. The group of accused charac-ters must eithe...

Brave New World: Chapters 11 and 12

Chapter 11. After Johns vomits from the disgust of viewing hundreds of identical twins in the Factory where the Bockanovsky process is put into practise, he goes on to find that the State's library does not have Shakespeare. After John and Lenina go to a feely movie together, the night comes to end and John drops Lenina off at her house without having sex with her. This leaves her bewildered and lacking confidence. She deals with the situation by taking soma, and john releases all of his passion and emotion by reading Shakespeare.These actions are similar because both are methods of escape. For John, the raw and passionate emotions in Shakespeare help him to understand himself and his world, and for Lenina, soma allows her to pacify any overwhelming and unmanageable feelings. Chapter 12. 1. Helmholtz has always felt some sort of urge to explore his writing abilities and truly experience life beyond the World State. Meeting John has justified for Helmholtz just how corrupt society tru ly is. He is captivated by John and feels that his feelings of being unique are justified.Finally, the beauty and truth he sees in Shakespeare's writing are justified through meeting John- someone who shares a common love for such powerful and tragic writing. 2. â€Å"Why was that old fellow [Shakespeare] such a marvellous propaganda technician? Because he had so many insane, excriciating things to get excited about. You've got to be hurt and upset; otherwise you can't think of the really good, penetrating X-rayish phrases†¦ No, it won't do. We need some other kind of madness and violence.But what? What? Where can one find it?†¦ I don't know. † pg. 185 This quote is said by Helmholtz Watson in a room aloud with John and Bernard present. He had just finished rehearsing Shakespeare with john and begins to praise how well Shakespeare can write. What he means by this quote is that Shakespeare was able to write such deep and expressive â€Å"x-ray phrases† because it derived from something so powerfully tragic and violent. He believes that the success of fictional writing derives from true emotion.

Inclusion of Special Needs Children in Regular Classrooms Essay

Bobby, a young boy, is diagnosed with autism at age 3. At age 5 his parents attempt to place him into the kindergarten class in their school district. The school district wanted to immediately put Bobby into a special education classroom that is made up of entirely special needs children of all different disorders. Knowing that Bobby was prone to tantrums and uneasy with things unfamiliar to him, his parents wanted Bobby placed into a regular classroom with normally functioning students but with extra help from perhaps an extra aide or teacher. The school district decided to accommodate Bobby’s parents’ wishes and placed Bobby into a regular kindergarten classroom with a one-on-one aide who would also assist a few other children in the class when needed. This type of classroom is an inclusion classroom, meaning normally developing students are placed in the same class as special needs children so they can all learn from each other. It is not always easy for special need s children to adjust to an inclusion classroom at first, but they then usually become a successful environment. In the beginning of the school year Bobby had frequent outbursts when told to move from one activity onto another. These outbursts disturbed the classroom and Bobby’s classmates. Sometimes Bobby would scream and cry â€Å"NO!† when forced to relinquish a toy or supply to another student to teach him to share. Other times he wouldcry because he did not understand that every turn could not be his turn during games. Transition times were always a problem, because Bobby did not comprehend the concept of finishing one activity and moving onto the next. He just did not understand that the previous activity would still be there to do at another time or place. However, after a period of time and observing the â€Å"normal† students in his classroom, Bobby began to have fewer and shorter outbursts and began to understand simple concepts like finishing coloring and moving onto learning his alphabet. Many parents argue that having special needs children in the classroom with their normal children will hinder everyone’s learning and cause disruptions and distractions. However, inclusion classrooms help to teach sensitivity to normal students and proper interaction with society to special needs students. Inclusion in the scholastic environment benefits both the disabled student and the non-disabled student in obtaining better life skills. By  including all students as much as possible in general or regular education classes all students can learn to work cooperatively, work with different kinds of people, and how to help people in tasks. â€Å"As J.W. Whitworth, the Department of Education Chair of Texas, notes, ‘†¦the goal of inclusion in schools is to create a world, in which all people are knowledgeable about and supportive of all other people,'† (3). Every child in a public school system is required to receive a Free and Appropriate Public Education (FAPE) (Public Law 102-119). For higher-functioning children with special needs FAPE means being included in a regular classroom. Despite many arguments that special needs children are a hindrance to education in inclusion classrooms, the benefits of inclusive teaching outweigh the negative aspects. Any specialneeds child who is capable of functioning with some assistance in a mainstream classroom should be afforded that opportunity. No high functioning special needs student should be forced to remain in a classroom full of students that are lower functioning than them, therefore slowing down their education. Of the many benefits aspects for children placed in inclusion classrooms, there is none more important than the academic benefits. According to the Journal of Early Intervention, in a study of parents and teachers of inclusion classroom students, children with developmental disabilities placed in inclusion classrooms make great improvements in language, cognitive and motor development that are above their peers in special education classrooms (52). One way that students benefit is by learning skills of independence. Special needs students learn to depend on themselves first and then ask for help when they really need it. In the inclusive setting there won’t be as much of an opportunity for teachers or aids to assist all of the students. In a study conducted by Johns Hopkins University (Success For All) it was determined that in an inclusion setting â€Å"assessments showed improved reading performance for all students, the most dramatic improvements occurred among the lowest achievers.† (Stout, 2001). By placing the special needs students in with the general education students, all students are provided with better resources in the classroom. Aside from providing children with academic benefits, inclusion also provides children with a better understanding and respect for diversity. Being in a setting with many different types of students with different needs and abilities provides students with a way to learn about differences and how they can help others. In the â€Å"Success For All†study, results showed that the children involved had â€Å"a reduced fear of human differences accompanied by increased comfort and awareness† (Stout, 2001). If children are separated in the school because of their developmental differences then they will never truly learn that it is acceptable to be a unique individual. According to the Early Childhood Research Quarterly â€Å"typically developing children from inclusive classrooms [give] significantly higher acceptance ratings to hypothetical peers with disabilities than children from setting that do not include children with disabilities† (Hestenes, Carroll, 231). The idea that it is acceptable to be different should become common knowledge to all students. With that knowledge, students can make the future a better place for everyone. One tangible problem that could be avoided in the future if children are given exposure to disabled children are that people will not be turned down for jobs by non-accepting employers who do not understand the capabilities of some disabled workers. Another major benefit that students can gain from being in an inclusion classroom is a heightened self-concept. Larry Daniel and Debra King, writers for the Journal of Educational Outreach believe that â€Å"it is generally agreed that children who have learning problems and/or those who are behaviorally impaired often develop a poor self-concept† (Volume 91, Issue 2, 67).One way that students can gain a better self-concept is by learning that all students have strengths and weaknesses in the classroom and that needing help is acceptable. Special needs students will see general education students asking the teachers and the aids for help and they will realize that everyone needs help at some point (Daniel, King, 68). If a child who is viewed as â€Å"smart† asks a teacher how toread a certain passage, a learning disabled child will feel more comfortable with also asking for help with reading. Sometimes when a teacher starts children off with activities where they can no t fail, it can build a better self-concept (Daniel, King, 68). For example, a teacher could start off a lesson with a creative activity  such as drawing what one feels a story is about. Children cannot fail at this activity because it is all based upon their personal feelings. When a child feels good about an activity at which they succeeded, it builds the foundation for the belief that they can succeed at anything if they try. One way to build a child’s self-concept that is easy and helpful to the teacher is by assigning small tasks around the room. Some such tasks could be watering plants, passing out paper, or running small errands. Assigning special tasks makes them feel important and enhances self-esteem. (Daniel, King, 68) The way that a teacher talks to a child may either strengthen or weaken a child’s self-esteem. When a teacher uses many negative words and speaks loudly to a child in front of classmates that child may feel as if everyone will then make fun of him or her. This in turn makes the child feel poorly and lowers confidence. Wording phrases in a positive way can help to get the message across to the student effectively and mannerly (Daniel, King, 69). The child’s enhanced self respect can lead to many new friendships. Also, a refined self-concept develops feelings of empowerment in children. This new feeling can keep up self-confidence and allow the children to be less afraid to try new things. Through the many studies, laws, and the support of the government, inclusion has had a very beneficial effect on society as a whole. Students are learning at a younger age to accept people for who they are while learning reading and writing. They are learningthat everyone is different but everyone is still â€Å"special† and should be accepted for being themselves. As they grow older inclusion stays beneficial by creating better self-esteem in the students. Ultimately, inclusion is benefiting society more and more every day, creating better and more educated people around the world. Works Cited Whitworth, J. W. â€Å"A Model for Inclusive Teacher Preparation.† Electronic Journal for Inclusive Education 1 (1999). Retrieved April 18. 2007, from http://www.ed.wright.edu:16080/~prenick/JournalArchives/Winter-1999/whitworth.html. Peck, C .A., Carlson, P., and Helmstetter, E. â€Å"Parent and Teacher Perceptions of Outcomes for Typically Developing Children Enrolled in Integrated Early Childhood Programs: A Statewide Survey.† Journal of Early Intervention (1992): 53-63. Stout, Katie. â€Å"Special Education Inclusion.† Educational Issues Series: Wisconsin Education Association (2007). 18 Apr. 2007 . Hestenes, L. L. & Carroll, D. E. (2000) The play interactions of young children with and without disabilities: individual and environmental influences, Early Childhood Research Quarterly, 15,229-246. Daniels, Larry G., and Debra A. King. Journal of Educational Outreach 91 (1997): 67-81. 18 Apr. 2007.

Celibacy and Catholic Priests Essays

Celibacy and Catholic Priests Essays Celibacy and Catholic Priests Essay Celibacy and Catholic Priests Essay In today’s universe. many wonder why Catholic priests can’t acquire married and have a household of their ain. This issue and inquiry can be boiled down into one word: celibacy. Bing celibate is defined as being One who abstains from sexual intercourse. particularly by ground of spiritual vows. harmonizing to thefreedictionary. com. This definition is non understood by many because the idea of holding a life without sex is intolerable. particularly in today’s society. By researching this subject in deepness. one can understand why celibacy is an of import factor of the Catholic priesthood. Harmonizing to Father Kenneth Doyle of the Catholic News Service. priests hold this sacred vow for three peculiar grounds: it closely resembles Christ Who was unmarried. it shows and proves that love can be present without being physical. and it allows a adult male to give all of his energy to the Lord instead than to a household. In understanding how celibacy became so of import. we have to look at its history. peculiarly at the 3rd. 4th. eleventh. and 16th centuries. harmonizing to John O’Malley in his article Some Basicss About Celibacy ( 8 ) . In the 3rd century. within the early Church. many priests and even most of the apostles of Jesus were work forces with married womans and households. It was a common characteristic among the early Church. and even some of the Holy Fathers. or Popes. were known to be married and have kids. It is clear that during this clip period. the patristic epoch and early Middle Ages. celibacy was non enforced and non of import within the Church. Early on in this century. Constantine’s acknowledgment of Christianity brought about position alteration for all Christians: because they were non being oppressed and martyred they looked for new ways to follow Christ and dispute themselves to give their lives for Him. John W. O’Malley writes. With St. Jerome ( 345-4 20 ) . every bit good as many others. virginity for those espoused to Christ began to be extolled with new ardor and consistence. This became the edifice block for statute law and more instructions on the topic of celibacy ( 9 ) . O’Malley points out that the 4th century brought approximately more alteration for Christians as they came out of concealment in the catacombs ( 9 ) . The Council of Elvira was held in 305. which consisted of 19 bishops every bit good as a figure of priests. deacons. and laypeople. O’Malley writes that Canon 33 was a merchandise of this council and that it was the first piece of statute law that dealt with the issue of the clergy and matrimony. It reads: It has seemed good perfectly to prohibit the bishops. the priests. and the deacons. i. e. . all the churchmans in the service of the ministry. to hold dealingss with their married womans and procreate kids ; should anyone make so. allow him be excluded from the award of the clergy. ( 9 ) This decree changed things. because it made a tradition into a jurisprudence. and any who violated it would be punished. This edict was truly meant to set continency or temperateness on married clergy. because the thought of mirroring Christ and holding complete dedication to the sacraments was going more of import. every bit good as seeking to take by illustration as clergy to the laypeople. This was really of import in puting up what would alter in the 11th century as more important figures wanted to set up order and put things right within the Church ( 9 ) . Harmonizing to O’Malley. the 11th century sought to retrieve from the Dark Ages and was able to recover patristic epoch canon jurisprudence aggregations ( 10 ) . These recovered canon jurisprudence aggregations contained Torahs related to the thought of celibacy and acted as maps or designs for a series of holy and avid Catholic Popes for 35 old ages. who were determined to put order in the Church and society ( 10 ) . During this clip the pontificate established a regulation of authorization and power. which far surpassed anything that preceded it. and began reforming the Church. The reformists had the chief end of seeking to acquire the clergy’s behaviours and actions to mirror the antediluvian canon Torahs interpreted by the reformists. and were endeavoring to do the clergy and the Church more sanctum in nature. One of the greatest Catholic Popes in history was Pope Gregory VII who came into office towards the terminal of the motion. Thankss to his attempts. the juris prudence of celibacy began to look in the signifier that would most resemble today’s signifier. which is the prohibition of the ordained from being married before or after ordination ( 10 ) . The 16th century saw the beginnings of the reformation. where the thought of celibacy was challenged and questioned by Luther and others. who broke off from the Church and who were besides married. The Council of Trent was the Church’s response to the Protestants ; it solidified what celibacy means today for the Church and condemned three ideas on celibacy. Harmonizing to O’Malley. these were as follows: First. that churchmans in major orders and spiritual priests who have made a grave vow of celibacy can validly contract matrimony ; 2nd. that the ordinance of celibacy is a depreciation of matrimony ; and 3rd. that those who. after doing a grave vow of celibacy. can non detect it are free to contract marriage ( 11 ) . O’Malley points out that the jurisprudence has been modified. Canon 277. which is observed and practiced today. reads: Clerics are obliged to detect perfect and ageless continency for the interest of the land of Eden and therefore are obliged to detect celibacy. which is a particular gift of God. by which sacred curates can adhere more easy to Christ with an undivided bosom and can more freely give themselves to the service of God and world. ( 11 ) Continuing to plunge deeper into the subject of celibacy. it is of import to do a differentiation between the Catholic instructions of tenet and subject. Harmonizing to Catholic Answers. tenet are instructions within the Catholic Church that will neer alter. and a subject can alter. As Catholic Answers points out. because of the many different fluctuations of celibacy in the Eastern Rite Catholics. Orthodox and Oriental Christians where married priests are rather common. celibacy is a disciplinary regulation. non a tenet like the Trinity is. Of class there are regulations and ordinances on matrimony and being ordained in those countries that have married clergy. but it is the tradition in the Western or Roman Catholic Church that their clergy take a vow of celibacy ; exclusions can be made for Roman Catholic Priests who are married because they converted after being Lutheran or some other denomination. Many Fundamentalists attack celibacy as being a subject or pattern that goes against the Holy Bible and against nature itself because Genesis 1:28 says to. Be fruitful and multiply. As Catholic Answers points out. many besides argue that celibacy itself leads to perversion or that it can do illicit sexual behaviour. which is merely non true. It is true that many people are called to be married in their lives. but Catholics Answers provinces. †¦The career of celibacy is explicitly advocated- as good as practiced- by both Jesus and Paul . Therefore. it is easy to see why celibacy is a really intricate and of import portion of the priesthood. because it allows the priests to be more like Jesus and have a more affiliated relationship with the Father and the people they curate to. merely like Jesus Himself. Paul understands the importance of celibacy and complete dedication to the Lord by stating in First Corinthians 7:32-34 that. I should wish you to be free of anxiousnesss. An single adult male is dying about the things of the Lord. how he may delight the Lord. But a married adult male is dying about the things of the universe. how he may delight his married woman. and he is divided . Bing celibate is neither unnatural nor against the Bible. Jesus and Paul practiced and advocated it in their times ; clearly. it is non incorrect. Catholic Priests are highly of import in today’s universe because they provide us with the seven sacraments: Baptism. Eucharist. Reconciliation. Confirmation. Marriage. Holy Orders. and Anointing of the sick. Bing continent aid priests to execute these sacraments in the most holy mode and with complete connexion to God. Unfortunately. in today’s universe the thought or subject of celibacy is going something that is really difficult for some to understand and pattern. even for priests. In her article entitled On the Verge of Ideological Mutiny: Celibacy and the Roman Catholic Priesthood. Cathleen M. Falsani said that. The argument about compulsory celibacy for priests rises ire and eyebrows. as the Roman Catholic Church experiences a intimidating deficit of priests and a worsening involvement in spiritual careers. while narratives of sexual injudiciousness and maltreatment abound ( 16 ) . It is true that today. many people blame celibacy as the chief cause of deficits to the priesthood and many argue that celibacy shouldn’t be forced onto person and alternatively be a personal pick. This issue takes a toll on the full Church and can endanger the handiness of the Mass and sacraments if deficits of priests continue ( 16 ) . Many besides take the Church’s position on sex as a negative thing in that sex is a bad thing and that its lone usage is to make kids. which is why many believe that celibacy is in topographic point for Catholic priests. harmonizing to Falsani and Bob McClory a former Catholic priest ( 16 ) . As Falsani points out. the Church has responded to this position with Blessed Pope John Paul II’s papal missive which stated that. The bosom of a priest. in order that it may be available for this service. must be free. Celibacy is a mark of a freedom that exists for the interest of service†¦ ( 17 ) . This truly is what celibacy for those in the priesthood is all about: it allows them to be focused and be married to the church and God in a manner that many merely many can non grok nor understand. It is about complete forfeit and giving of one’s ego for the greater glorification of God and Eden. which allows them to administrate and execute the seven holy sacraments in a manner that reflects Jesus Christ Himself and His apostles who followed Him and gave up their lives for Christ’s glorification. Yes. many of the apostles may hold been married ; however. they began to develop a greater love and significance to what it means to be a retainer of the Lord to others and to genuinely give up their lives in service to Him. Celibacy is non against Church instructions. Contrary to many people’s beliefs. it really helps beef up and reaffirm patterns within the Catholic Church and proves that life is possible without giving in to worldly desires. In his article Why Celibacy Makes Sense. Robert Barron says that. Celibacy†¦is a signifier of life adopted by people in love with Jesus Christ ( 19 ) . This is precisely what drives priests in their ministry and enables them to go on their work with great ardor and ardor. The Catholic priest is a individual who is able to turn out that being in control of one’s ain desires is possible. particularly in a universe that is filled with sex around every corner. They are able to be that bright visible radiation within the darkness that emulates Christ and His pureness and love. Imagine if Roman Catholic priests were all allowed to be married in today’s universe. This would non raise any superciliums like it does now ; alternatively. it would me rely be another thing that is among the norm in society. However. it is exactly because of this unnatural thing called celibacy that people do raise their superciliums at these holy work forces populating in a universe that urgently needs people to stand out and be different than what society expects them to be. This is precisely what Jesus did. He was person Who stood out like a sore pollex during His clip. but this allowed Him to take by illustration and demo everyone who turned their caputs that a life with Him and the Father was deserving life. no affair how different it was from everyone else’s in society. In The Theological Basis for Priestly Celibacy. the theologian Max Thurian writes. Observing celibacy for the interest of the land of Eden does non intend being any the less a adult male ; by abdicating a natural signifier of being. the priest discovers life in all its comprehensiveness. Jesus was surely no less of a adult male because he did non hold fondnesss other than those for his brethren. and a bride other than the Chu rch. This amounts it up really good: priests try to be leaders of work forces and are to the full committed and faithful to their bride. the Church. and to the flock of people that they curate to. The call to celibacy and the priesthood is a supernatural one. and one which the universe sees as unnatural. Contrary to popular belief. celibacy and the call to be a priest is non for those work forces who have no attractive force to adult females. because like everyone else. priests are human existences and work forces who still have wants. In his survey entitled Seminarians Today. Paul Stanosz writes that sociologists Dean Hoge and Jacqueline have reported that seminarists and immature priests view themselves as. Men set apart ( 19 ) . Many priests are work forces who truly wanted to hold a household and kids but decided to mind the call to give this desire and alternatively be male parents within the Church. The most of import tool for priests and seminarists to remain strong in their preparation and ministry is personal supplication. and Paul Stanosz writes that. When asked what they looked frontward to as priests. the pupils mentioned holding clip for personal supplication and for taking others in prayer ( 22 ) . The chief ground that seminarists and priests enjoy their personal supplication so much is that they are able to come in into a deeper supplication province because of their entire committedness to the Church and non to a married woman or kids. Celibacy is a pattern that allows priests and seminarists to be more affiliated with the Lord. and therefore they can bask prayer more and acquire more out of it. In fact. they can pull others to it every bit good. because of their mirroring of Jesus Christ’s life and their connexion to their alone naming. This truly makes Catholic priests Men set apart and is precisely what is needed in today’s universe and what needs to go on within the Roman Catholic Church ( 19 ) . As we have examined. celibacy is a subject that many do non understand because it is one that goes against the societal norms of today’s society. Ultimately. it is a really large forfeit and one that is necessary for Roman Catholic priests to efficaciously curate and be different from every other adult male in society. It is something that creates a alone bond between the celibate priest and his ministry and continues a tradition that has been handed down through history and advocated by the Church’s most outstanding leaders. As mentioned at the start of this paper from Father Kenneth Doyle. celibacy allows for priests to closely resemble Jesus Christ as the leader and theoretical account of the church. it allows for love to be and be present without being physical. and it allows priests to concentrate all their energy on the Church instead than on a household or kids. This committedness is really sedate in nature. Harmonizing to the Catholic encyclopaedia at newadvent. org. during the beginning of the priestly candidates’ ceremonial. the bishop tells them merely how important this committedness is by stating the followers: You ought uneasily to see once more and once more what kind of a load this is which you are taking upon you of your ain agreement. Up to this you are free. You may still. if you choose. bend to the purposes and desires of the universe. But if you receive this order it will no longer be lawful to turn back from your intent. You will be required to go on in the service of God. and with His aid to detect celibacy and to be bound for of all time in the reliefs of the Altar. to function who is to reign. This is what it means to be celibate: to travel against the grain and serve the Lord and the Church with all that one can offer as a priest and as a true adult male and adherent of Jesus Christ. Bibliography Barron. Robert. Why Celibacy Makes Sense. Commonweal 132. 14 ( 2005 ) : 17-9. ProQuest Religion. Web. 17 Oct. 2012. Celibacy and the Priesthood. Celibacy and the Priesthood. N. p. . 10 Aug. 2004. Web. 15 Oct. 2012. lt ; hypertext transfer protocol: //www. Catholic. com/tracts/celibacy-and-the-priesthood gt ; . Celibate. The Free Dictionary. Farlex. n. d. Web. 15 Oct. 2012. lt ; hypertext transfer protocol: //www. thefreedictionary. com/celibate gt ; . Doyle. Father Kenneth. CatholicPhilly. com: News from the Archdiocese of Philadelphia. Powered by The Catholic Standard A ; Times and Phaith Magazine. Explaining Celibacy for Latin-rite Priests. N. p. . 24 July 2012. Web. 15 Oct. 2012. lt ; hypertext transfer protocol: //catholicphilly. com/2012/07/catholic-spirituality/explaining-celibacy-for-latin-rite-priests/ gt ; . Falsani. Cathi M. On The Verge Of Ideological Mutiny: Celibacy And The Roman Catholic Priesthood. Daughters Of Sarah 22. 1 ( 1996 ) : 16-19. ATLA Religion Database with ATLASerials. Web. 17 Oct. 2012. Griffin. Patrick. Rites. The Catholic Encyclopedia. Vol. 13. New York: Robert Appleton Company. 1912. 11 Sept. 2012 lt ; hypertext transfer protocol: //www. newadvent. org/cathen/13064b. htm gt ; . O’Malley. John W. Some Basics About Celibacy. America 187. 13 ( 2002 ) : 7. Academic Search Premier. Web. 17 Oct. 2012. Stanosz. Paul. Seminarians Today. Commonweal 132. 14 ( 2005 ) : 19-23. ProQuest Religion. Web. 21 Oct. 2012. Thurian. Max. The Theological Basis for Priestly Celibacy. The Theological Basis for Priestly Celibacy. N. p. . n. d. Web. 17 Oct. 2012. lt ; hypertext transfer protocol: //www. vatican. va/roman_curia/congregations/cclergy/documents/rc_con_cclergy_doc_01011993_theol_en. hypertext markup language gt ; . The Catholic Holy Bible: New American Bible. The Catholic Holy Bible: New American Bible.

Womens Rights Movement essays

Women's Rights Movement essays The Womens Rights Movement happened years ago, but we cannot forget about the sacrifices that those women made back then so that the women today could enjoy those freedoms that they worked so hard at obtaining. There were many women that did their part in gaining womens freedom all around the world. In this essay I will talk about 4 of those women. The first woman that I think stands out in womens history is Betty Friedan. Betty Friedan wrote a book called The Feminine Mystique, in which she basically set the standards for what women could and could not do. She said that women were not restricted to being just wives that stay in the kitchen and cook. She pointed out that women could go out and get jobs, and that they had just the same equalities as men. When I interviewed my mother, she said that Betty Friedan was one of her idols as she was growing up. She said that Betty was one of the first women to actually stand up and say what she believed in, and my mother respected that greatly. The next woman that I would like to talk to you about is the famous Rosa Parks. I say that she is famous because almost everybody everywhere knows her story. But just in case, Rosa Parks was the woman that was riding on the bus and refused to give up her seat to a white man so they arrested her. That started uproar in the black community. She set the ball in motion for the end of total segregation by refusing to give up her seat. Rosa Parks, I think, is the most influential woman in the movement, just because her one action did so much to help her cause. The third woman that I think is important is Betty Ford. Betty Ford was the wife of President Gerald Ford. She was the first woman that actually brought cancer and different types of diseases into the open. She did this because she was deadly addicted to drugs and alcohol. She figured that by openly talking about it, she could help herse ...

Facts About Quebec, Canadas Largest Province

Facts About Quebec, Canada's Largest Province Quebec is the largest Canadian province in area (though the territory of Nunavut is larger)  and the second largest in population, after Ontario. Quebec  is a mainly French-speaking society, and the defense of its language and culture colors all politics in the province (in French, the provinces name is spelled Quà ©bec). Location of the Province of Quebec Quebec is in eastern Canada. It is located between Ontario, James Bay and Hudson Bay on the west;  Labrador and the Gulf of St. Lawrence on the east;  between Hudson Strait and Ungava Bay on the north; and New Brunswick and the United States on the south. Its largest city, Montreal, is about 64 kilometers (40 miles) north of the U.S. border. Area of Quebec The province is 1,356,625.27 sq. km (523,795.95 sq. miles), making it the largest province by area, according to the 2016 Census. Population of Quebec As of the 2016 Census, 8,164,361 people live in Quebec.   Capital City of Quebec The capital of the province is  Quebec City. Date Quebec Entered Confederation Quebec became one of the first provinces of Canada on July 1, 1867. Government of Quebec Coalition Avenir Quà ©bec Last Quebec Provincial Election The last general election in Quebec was October 1, 2018. Premier of Quebec Philippe Couillard is the 31st premier of Quebec and the leader of the Quebec Liberal Party. Main Quebec Industries The service sector dominates the economy, though the provinces abundance of natural resources resulted in highly developed agriculture, manufacturing, energy, mining, forestry, and transportation industries.

Describe one of the major ideas you think was important in shaping the Essay

Describe one of the major ideas you think was important in shaping the colonies we have studied, and describe how it influenced the founding and the development of the colonies - Essay Example The colonies in question are, Massachusetts, Virginia, James town, Pennsylvania, Georgia, Connecticut, etc. After independence, these colonies developed their own systems of government. The main idea the British used in establishing these territories was the economic gain. The colonies in question are Massachusetts, Virginia and St James Park. This paper will discuss the main idea that the British used in founding and developing the above named colonies. The objective of the paper is to analyze how the idea helped the British to annex the colony and develop it. Another objective is to analyze the consequences of such ideas amongst the natives of the land. The questions this paper will try to answer are: The British colonized the Provinces of Massachusetts, Virginia and St James Park. The British settlement in Massachusetts Bay began in 1620 with the founding of the Plymouth County. The British exercised direct rule in Massachusetts with King Charles the Second introducing and enforcing economic control in the colony2. For instance the navigation acts passed by the British Government in 1660s sought to force the development of Colonies of Massachusetts and Virginia in favor to the development of England and stop colonial trade with France and other European states. The Navigation Acts were unpopular in Massachusetts and merchants found themselves disobeying the rules. The rule was also met with stiff resistance from colonial governors who refused to implement them and the activities of the crown agents were frustrated in order for this navigation policy act to be nullified. In 1686, King James the Second formed a colonial territory called the Dominion of England. This Territory was a combination of all British Colonial Territories into a one political unit. This was formed in order to enable England access more direct

Charles Messier's Butterfly Cluster Essay Example | Topics and Well Written Essays - 1250 words

Charles Messier's Butterfly Cluster - Essay Example He actually searched for comets and to avoid confusion between comets and Messier objects, he and his colleagues compiled them in a list in 1771. It was a remarkable achievement. The list is known as the Messier Catalog or Messier Object List. The list contains a total of 110 objects. The list contains nebulae, galaxies and star clusters. Body During the process of these observations, the first object they observed was the Crab Nebula (M1). A total of 103 objects were listed by Messier and his colleagues (Burnham 73). The Crab Nebula is a ball of gas left over from a supernova explosion. M2 is a globular cluster of stars in Aquarius, M3 is located in Canes Venatici, and Messier 4 to Messier 7 are located in the constellation of Scorpius. The Butterfly Cluster is Messier 6. This object can be seen by telescope clearly, and in the grayish color by naked eye. The Butterfly Cluster existence was first noticed by Giovanni Battista Hoderna in 1654. Ptolemy discovered it while he was observ ing M7, and declared it as a part of M7. After that, Phillips Loys de Cheseaux (1945-1946) observed it and recognized it as â€Å"a very fine star cluster.† And finally it was catalogued by Charles Messier in 1764 in the list of Messier objects (The Griffith Observer 259). The Butterfly Cluster is an open cluster of stars in the constellation of Scorpius known as Messier 6 or the Butterfly Cluster as it resembles a flying butterfly with open wings and antennae. The stars of the cluster twinkle, and it looks very beautiful in the sky. It is visually a very rewarding object; the butterfly pattern is very visible and obvious. It has been placed in the 6th position in the list of Messier objects. Scorpio is located in the Milky Way and contains many massive objects other than M6 and Messier 7. The Butterfly Cluster has a magnitude of 4.2, an angular diameter of 25 arc minutes, and lies at a distance of 1,600 light years with a luminosity of 8,300 suns. The Butterfly Cluster is ab out 50 million years old and can be seen in summer nights clearly with binoculars. The objects (M6 and M7) are the summer’s finest and brightest clusters. Different astronomers have different opinions about M6’s age. According to Burnham, it is 100 million years old; WEBDA estimates its age to be around 95 million years, and 51 million years according to the Sky Catalogue 2000.0. Messier objects of the â€Å"Messier Summer Chart† are clearly visible on summer nights. Messier objects help astronomers to adjust the distance scale of the universe. The above image shows the view of M6 (outcropped). The image was taken through the Astrograph, Takahashi E-180. How Can It Be Seen? It can be seen about 3/ 1-2 degrees northwest of M7 which is located near the tail of Scorpius. It appears as a hazy patch in the dark sky but it should not be confused with Messier 7. Messier 7 is brighter than Messier 6. M7 is seen in between and the Butterfly Cluster is on its lower side. Messier 6 contains many other Messier objects such as M21, M23, NGC 6167, and NGC 6193. Its magnitude is fainter than M7, and fills the field of 25 angular diameter. One of the ways to find the Butterfly Cluster is to identify the two well-known asterisms of Scorpios and Sagittarius. It has two irregular loops of blue and white stars on both wings and at 40-50x, it has three bright stars in the butterfly’s body. The Butterfly Cluster contains almost 80 stars (Plotner 400) with B type blue (hottest) and K type orange stars (BM Scorpii, HD 160371). The brightest K type orange star is a semi-regular

Football Essay Example | Topics and Well Written Essays - 1250 words

Football - Essay Example What is driving sports in the world is more than just fun. In the new era, sport has become a combination of management, responsibility, skill-development, rivalry, strategy, fitness and many more aspects one can think of as this domain can not be limited or confined to a few principles. Football Stadiums are all over the world and people do not hesitate to fill in the stadiums regardless of what so ever the match is. This sport brings in much revenue as well. A single ticket in Manchester for a match between the famous rivals Manchester United and Arsenal can cost well over 500 which is way above many developing economies' GDP per capita. At this stage, the concept of a "Team" is most important. The word team does not refer only to a group of people combined to accomplish a task rather it is an association of individual who socialize and cope with each other's differences to reach the "maximum" achievable. A team consists of members that have different skills so each can be a specialist in any one desired area. The team members also have complementary skills to coordinate well and imply synergy so as lessen or hide an individual's weakness in that of the team's strength. The highlight of the modern sport is "Football". It is the most popular sport of the world. It has players from all across the world. Lets see what football is and how did it trace its origin. Our predecessors have been accustomed to playing a game/sport that involved kicking the ball around a specified area and targeting a desired point. The issue was that one team had to put the ball through and the other had to stop. In the early times the sport was played by almost every Race, Tribe, Stronghold but the rules varied a lot. So we can say that football has been a global sport for quite a time. The earlier versions were the "Chinese game of cuju" and the "Harpastum" as played by the Romans. The need to develop standardized rules was felt in the mid 19th century as the sport was gaining much popularity and was spreading. The first to come up were the Cambridge Rules as many British schools ought to play the game thus uniformity was required. Research Methodology The research will be based on surveys and short interviews with general people from different areas. Selecting this methodology will bypass any bias present in the research. The problem would be to classify the data into groups and arrange it accordingly. The surveys would be internet based and some site visits. We can easily find Football fans across the world and so it would be feasible if shopping Malls are targeted for this purpose. The survey would consist of small questionnaire placed at the exit of the Mall and the public would be required to just give in a few minutes answering the questions if they are interested. Further at other convenient places, small interviews highlighting the sporting events and globalization of Football will be undertaken by an experienced interviewer such that the results could be analyzed and summarized easily. Selection Feasibility Why have I chosen this topic is because Football requires

An enemy of the People by Arthur Miller Essay Example | Topics and Well Written Essays - 1000 words

An enemy of the People by Arthur Miller - Essay Example In his play entitled â€Å"An enemy of the People,† Henrik Ibsen uses the character of Dr. Stockmann to bring out the extent to which the society can compromise the desires and beliefs of an individual. Reading through the play, one gets to understand how hard it is for people who have compromised their principles to be confronted by someone who has not. The use of the styles of characterization, irony, and symbolism help the author to show the reader ways in which a person can be disliked by the very same society he is doing his best to help. Dr. Stockmann, the main character of the play is a popular practicing medical doctor as well as the medical officer of a small coastal town in Norway. He is the brother of the mayor, an authoritative figure in the town. In the play, Dr. Stockmann is the protagonist who struggles to do the right thing and stand against the social intolerances that he encounters in his day to day activities. As a health officer of the town, Dr. Stockmann d iscovers a problem with pollution that is causing illnesses to the town’s tourists. To this effect, he comes up with a solution to the pollution problem which he presents to the Mayor. However, he discovers that it would not be an easy task to get the attention of the authorities and the townspeople as it becomes clear to him that they only care about the financial gain of the baths and not the problems they present. He realizes that he is alone in his quest for being right and notes â€Å"†¦..† (Ibsen 1011). Dr. Stockmann experiences a lot of negativity from the very same people of the town he is trying to help. When he discovers the extent of pollution in the waters, he believes that people will be interested in finding a solution. However, the townspeople, even his friends term him an â€Å"enemy of the people† mainly because his suggestions take the prosperity associated with the benefits of the baths back. He even notes himself "I've decided. I am an Enemy of the People"(Ibsen 1028) when he finally accepts that most of the towns people will never support him. This brings out irony in the play. It is ironic because Dr. Stockmann had the best of intentions when he proposed limiting the damages of pollution by closing the baths. In any case, the people are their own enemy because their greed and desire for prosperity will in the end bring harm and destruction to the town. It is clear that people do not realize the shortsightedness of their stand against Dr. Stockmann’s opi nion of what is best for the town. Ibsen’s use of imagery as brought out by the character of Dr. Stockmann who points out images of pollution throughout the play. At the beginning, Dr. Stockman literally discovers the polluted baths which in this case, are getting polluted by literal filth from the tanneries. As the play progresses, images of dirty water are used as a symbolic representation of moral and societal corruption. According to Roshwald, there is the physical filth, as well as moral pollution, and one can see the biological poison as a representation of the moral corruption in the society (229). In a community, there are always selfish individuals who have compromised their principles and find it challenging when confronted by someone of integrity. The mayor is dishonest and callous, but his brother is an honest man and that is why as Roshwald notes, Dr. Stockman accuses his brother by saying â€Å"We are making our living by retailing filth and corruption!†

Federal Acts Affecting MIS Research Paper Example | Topics and Well Written Essays - 250 words

Federal Acts Affecting MIS - Research Paper Example For instance, this act forces the cable operators and service providers to provide a printed guideline containing information on public privacy whenever a connection is issued to a person. This act increased the customers’ confidence by ensuring a great deal of privacy and security of their information. On the other hand, this act forced the cable operators not to disclose their customers’ information as well as get approval of the customer prior to making use of their information. In this scenario, this act has offered an excellent support for ensuring the security of customer data (PUBLIC ACCESS AWARENESS ASSOCIATION, n.d; University of Miami School of Medicine, 2005). The telephone consumer protection act (TCPA) was introduced in 1991 and it was aimed at making sure that people are not pressurized by telemarketers as well as have the facility to avoid. Additionally, it also allows people to restrict autodialed calls that have the capability to connect two or more lines of a traditional communication structure of multi-line business. In addition, this act also ensures that the customers do not get unwanted publicity material via faxes connected to the personal telephone. Moreover, this act is an excellent solution for dealing with telephone technology abuse. Furthermore, this act also allows customers to ensure the safety of their personal information and data (Aydenemma, 2012; FCC, 2012; American Teleservices Association, 2012; Direct Marketing Association,

Strategies for Making Menu Driven Interface Visually Appealing In Assignment

Strategies for Making Menu Driven Interface Visually Appealing In Modern Computer Environment - Assignment Example Evaluation of User Dialogue Strategies Used by a Menu Driven Interface User dialogue system is regarded as a computer system which aims to converse especially with the humans in a comprehensible structure. In menu driven interface, dialogue systems often comprise employed text, language, pictures, signs and other mode of communication for input as well as for output channels. There are several strategies that are used in user dialogue system. A typical dialogue system process comprises technologies and tools such as input recognizer, language understanding, conversation manager and output renderer. Input recognizer unit consists of speech recognition, motion recognition and script recognition. On the other hand, language-understanding unit comprises appropriate name identification, speech classification and semantic parser. With respect to the conversation manager, the task of this unit is to maintain proper records of discussion and to manage the usual flow of information exchange. Usually in menu driven interface, the conversation manager tends to per form multiple tasks relating to specific fields. The conversation manager generates output by applying output originator. This output is extracted by implying output renderer which comprise text to speech engine (Blair-Early & Zender, 2008). Determination of Popularity of Menu Driven Interfaces Menu driven interfaces are still popular in modern computing age. Basically, this system possesses several advantages that assist in gaining the popularity of menu driven technology. ... Furthermore, menu driven system is visually attractive and provides the users a better graphical interface to work with. Menu driven system is also affordable and hence appropriate for beginner user model (Lee & Raymond, n.d.). Menu driven system also permits novice users to execute information seeking activities without having proper knowledge on command language. Menu system completely narrows down the activities of information seeker and therefore do not permit articulacy of command styles. Additionally, direct management style of menu driven system provides information seeker with clear plotting between physical functions and system responses. As a result, it is still popular in modern computer system (Marchionini, 1997). Strategies for Making Menu Driven Interface Visually Appealing In Modern Computer Environment There are several strategies that can help to make the menu driven interface visually appealing. The first strategy is the use of answer dialogue. Answer dialogue strat egy is basically used in order to supplement different dialogues under menu driven system. This strategy necessitates consideration of possible answers to manage the actions in case of incorrect answers (Savage & et. al., 1982). The second strategy is direct manipulation. Direct manipulation strategy permits the operation of graphical objects which appear in the monitor screen. This strategy mainly concentrates on utilization of icons and images in order to suggest effective functions to the users (Savage & et. al., 1982). The third strategy for making menu driven interface more visually appealing is the use of instruction sets. However, this strategy can only be used

Federal Acts Affecting MIS Research Paper Example | Topics and Well Written Essays - 250 words

Federal Acts Affecting MIS - Research Paper Example For instance, this act forces the cable operators and service providers to provide a printed guideline containing information on public privacy whenever a connection is issued to a person. This act increased the customers’ confidence by ensuring a great deal of privacy and security of their information. On the other hand, this act forced the cable operators not to disclose their customers’ information as well as get approval of the customer prior to making use of their information. In this scenario, this act has offered an excellent support for ensuring the security of customer data (PUBLIC ACCESS AWARENESS ASSOCIATION, n.d; University of Miami School of Medicine, 2005). The telephone consumer protection act (TCPA) was introduced in 1991 and it was aimed at making sure that people are not pressurized by telemarketers as well as have the facility to avoid. Additionally, it also allows people to restrict autodialed calls that have the capability to connect two or more lines of a traditional communication structure of multi-line business. In addition, this act also ensures that the customers do not get unwanted publicity material via faxes connected to the personal telephone. Moreover, this act is an excellent solution for dealing with telephone technology abuse. Furthermore, this act also allows customers to ensure the safety of their personal information and data (Aydenemma, 2012; FCC, 2012; American Teleservices Association, 2012; Direct Marketing Association,

Effects of British Colonial Rule in India Essay Example for Free

Effects of British Colonial Rule in India Essay The colonization of India and the immense transfer of wealth that moved from the latter to Britain were vital to the success of the British Empire. In fact, the Viceroy of British India in 1894 called India â€Å"the pivot of our Empire †¦Ã¢â‚¬  I examine the effects of the Industrial Revolution on the subcontinent. Besides highlighting the fact that without cheap labor and raw materials from India, the modernization of Britain during this era would have been highly unlikely, I will show how colonial policy led to the privation and death of millions of natives. I conclude that while India undoubtedly benefited from British colonial rule, the negatives for the subject population far outweighed the positives. . Colonialism, by definition, is exploitative and oppressive, with the rulers enriching themselves at the expense of those they rule. Generally speaking, colonizers dominate a territory’s resources, labor force, and markets; oftentimes, they impose structures cultural, religious and/or linguistic to maintain control over the indigenous population. The effects of the expansion of European empires, which began in the 15th century, on the colonized can still be felt today. Some historians, for example, argue that colonialism is one of the leading causes in income inequality among countries in present times. They cite patterns of European settlement as determinative forces in the type of institutions developed in colonized countries, considering them major factors in economic backwardness. Economist Luis Angeles has argued that the higher the percentage of Europeans settling in a colony at its peak, the greater the inequality in that country so long as the settlers remained a minority, suggesting that the colonizers drained those lands of essential resources while reaping most, if not all, of the profits. In terms of per capita GDP in 1995, the 20 poorest countries were all former colonies, which would seem to bolster Angeles’ contention. There are, however, competing views on how much underdevelopment in today’s poorest countries is a byproduct of colonial rule and how much of it is influenced by factors such as a country’s lack of natural resources or area characteristics. For poet, activist and politician Aime Cesaire, the verdict was in: Colonizers were â€Å"the decisive actors †¦ the adventurer and the pirate, the wholesale grocer and the ship owner, the gold digger and the merchant, appetite and force, and behind them, the baleful projected shadow of a form of civilization which, at a certain point in its history, finds itself obliged, for internal reasons, to extend to a world scale the competition of its antagonistic economies. This is not to suggest that Western European nations were the first and only countries to pursue imperialistic policies or that nothing good came out of colonial policies for the subject population. Dinesh D’Souza, while arguing that colonialism has left many positive as well as negative legacies, has stressed that there is nothing uniquely Western about colonialism, writing: â€Å"Those who identify colonialism and empire only with the West either have no sense of history or have forgotten about the Egyptian empire, the Persian empire, the Macedonian empire, the Islamic empire, the Mongol empire, the Chinese empire, and the Aztec and Inca empires in the Americas. † For this paper’s purposes, however, I will focus on the British Empire, its colonizing efforts in India (1757-1947), and the effects British policy had on that subject population. A couple of caveats before examining the British-Indian relationship: experiences differed from colony to colony during this period of European imperialism; India was unique in the colonial experience because of its size and history. It also should be noted that India was rather unique among colonized lands during this era for at least two reasons. First, South Asia was â€Å"already a major player in world commerce and possessed a well-developed trading and financial world† by the time Europeans arrived. Indigenous administrative structures already existed for taxation purposes, while commerce within the country and throughout the continent offered prospects of giant profits. Second, British India, which included today’s India, Pakistan and Bangladesh, was a region so large that there were areas in which Britain exercised direct control over the subject population and others where it exerted indirect control. It is exceedingly difficult, therefore, to extrapolate from one experience to another. Although it is impossible to determine how India would have developed had England never established a dominating presence there, I find the results of British colonialism to have been a mixed bag for India: the negatives, however, far outweighed the positives. Liberal and democratic aspects of British colonialism in India played a significant role in leading to a democratic South Asia following Indian independence in 1947. Yet, the British first through the East India Company and then through direct government control held almost all of the political and economic power in India during the Empire’s expansion and apogee, guaranteeing the Indian economy could not evolve and/or function independent of the ruling power’s control; ensuring raw materials extracted from Indian soil would go towards British manufacturing industries mostly without profiting the vast majority of Indians; and leading to lives of privation for millions of indigenous subjects. Although there have been arguments made that, in political and economic terms, south Asia was backwards until the arrival of Europeans, recent research has debunked that myth, showing the region to have possessed healthy trading and financial structures prior to the Europeans’ arrival. British Colonial Strategy in the Subcontinent Imperial powers followed two basic strategies when colonizing. They either allowed a large number of Europeans to settle overseas (known as Settler Colonies) or sent a much smaller number – usually less than 1 percent of the population to serve as administrators and tax collectors (known as Peasant Colonies). Britain followed the latter strategy in regards to India. The percentage of English people in India in 1913, for example, was only 0. 1 percent of the country’s population; by comparison, they accounted for over one-fifth (21. 4 percent) of the population in South Africa and Losetho during the same period. As previously mentioned, Britain exerted both direct and indirect control over the Indian subcontinent. Areas of indirect control are called â€Å"native states. These were controlled by Indian rulers who wielded considerable power over the internal administration of the land, while the British exercised complete control over the area’s defense and foreign policies. When looking at this two-pronged approach Britain took in establishing an Indian colony, the economist Lakshmi Iyer has argued that there is a differential long-term effect on areas the Empire controlled directly compared to areas in which it basically outsourced control. Rather than expropriating Indian land, which was negligible, the English taxed Indian land, producing considerable revenues and inducing the indigenous population to shift from traditional to commercial products (e. g. tea). Areas that were directly under British control today have significantly lower levels of public goods relative to areas that were not under direct colonial rule. In 1961, for example, districts (administrative divisions below state level) that had been under direct control of the British Empire had lower levels of primary and middle schools, as well as medical dispensaries. Present-day differences between directly and indirectly controlled areas, Iyer argues, are most likely the result of differences in internal administration during the colonial period because once the British left in 1947, all the native states were integrated into independent India and have since been subject to a uniform administrative, legal and political structure. The Company and the Crown By the middle of the 18th century, there were five major European colonial powers the Dutch Republic, France, Great Britain, Portugal, and Spain. From about 1850 on, however, Britain’s overseas empire would be unrivaled; by 1901, the empire would encompass 11. 2 million square miles and rule about 400 million people. For much of the 19th and 20th centuries, India was Britain’s largest and economically most important colony, an â€Å"empire within an empire. † It should be noted that although this period coincided with the birth of the Industrial Revolution historians and economists have cast doubt on whether industrialization was the sine qua non for British imperialism. They have noted that England’s first major advance into the Indian subcontinent began in Bengal in the middle of the 18th century, long before large-scale mechanization turned Britain into the â€Å"workshop of the world. † Historian P. J. Marshall, in studying early British imperialism, has written: â€Å"As a blanket term the Industrial Revolution explains relatively little about British expansion in general at the end of the eighteenth century. † While Marshall and others may be correct in asserting the British would have pursued empire even without the Industrial Revolution, its advent impacted colonial policy in that it required expanded markets and a steady supply of raw materials to feed the country’s manufacturing industries. Cotton, for example, was one of the driving forces behind the evolution of Britain’s modern economy. British traders purchased raw cotton fibers from plantations, processed it into cotton cloth in Lancashire mills, and then exported them to the colonial markets including India. Prior to the Industrial Revolution, India had been the world’s main producer of cotton textiles, with a substantial export trade. By the early nineteenth century, however, Britain had taken over dominating the world market for cotton textiles based on technology that lowered production costs . â€Å"This dramatic change in international competitive advantage during the Industrial Revolution was surely one of the key episodes in the Great Divergence of living standards between Europe and Asia. † Britain’s 200-year run ruling India began in the mid-17th century when the British East India Company set up trading posts in Bombay, Madras and Calcutta. In 1757, Robert Clive led Company-financed troops – led by British officers and staffed by native soldiers known as sepoys in a victory over French-backed Indian forces. The victory at the Battle of Plassey made the East India Company the leading power in the country. It would dominate India for just over 100 years, the area it controlled growing over that time to encompass modern Bangladesh, a majority of southern India and most of the territory along the Ganges River in the north of the country. The East India Company’s control of Bengal alone yielded taxes of nearly  £3 million; by 1818, its territorial revenues in India stood at  £22 million, allowing it to finance one of the world’s largest standing armies. This established British rule well before the Industrial Revolution could have played any major role in Britain expanding its overseas empire, strengthening historians’ – Marshall, et al. – arguments regarding the significance, or lack thereof, of the role mechanization in England had in the country’s expansionist efforts. The fact remains, however, that Britain in the 19th century would become the world’s leading industrial power and India a major source of raw materials for its industry. What’s more, the subcontinent’s population of 300 million would constitute a huge source of revenue and a gigantic market for British-made goods. Although, the English expanded gradually in India during those first 100 years of colonization, once the British government gained control of the country’s administration following the Indian War of Independence in 1857, India was virtually incorporated into the British Empire and became its â€Å"crown jewel. † During the life of the Britain Empire, India was its most profitable colony. Examples of huge returns on British investments in India based on surviving business records are plentiful. To give two examples: Binny and Co. , which was founded in 1799 with 50,000 rupees in capital, returned profits of 140,000 rupees only 12 years later; and William Mackinnon’s Indian General Steam and Navigation Co. , which began trading in 1847 and whose assets five years later were valued at more than nine times the original capital of 72,000 rupees. The 1852 prospectus of the Chartered Bank of India, Australia, and China stated that â€Å"bearing in mind the very high rate of interest which prevails in the East and the very lucrative nature of the Exchange Business †¦ a very large Annual Dividend may be looked for with certainty. British investment in India increased enormously over the second half of the 19th and the beginning of the 20th centuries. According to economist James Foreman-Peck, by the end of 1911, 373 stock companies were estimated to be carrying on business exclusively or almost exclusively in India, yet were registered elsewhere, with the average size of those companies (railways accounted for nearly half of the capital, and tea plantations about one-fifth) dwarfing the far more numerous – 2,463 Indian-registered companies. The discrepancies between the two are stark. The companies registered outside India had paid-up capital of â‚ ¤77.979 million and debentures of â‚ ¤45.353 million compared to â‚ ¤46.251 million and â‚ ¤6 million, respectively, for Indian-registered companies. According to Foreman-Peck, â€Å"The magnitude of foreign investment and the rate of return on it, broadly defined, have been seen as a means by which empire imposed burdens on colonies and boosted the imperial nation’s economy. † This was not an idea that could only be gleaned in hindsight. Writing at the end of the 19th century, historian Brooks Adams wrote the following: Probably since the world began no investment has yielded the profit reaped from the Indian plunder. The amount of treasure wrung from the conquered people and transferred from India to English banks between Plassey and Waterloo (fifty-seven years) has been variously estimated at from $2,500,000,000 to $5,000,000,000. The methods of plunder and embezzlement by which every Briton in India enriched himself during the earlier history of the East India Company gradually passed away, but the drain did not pass away. The difference between the earlier day and the present is that Indias tribute to England is obtained by indirect methods under forms of law. It was estimated by Mr.  Hyndman some years ago that at least $175,000,000 is drained away every year from India without a cents return. Plunder and Famine At the time Britain established its colony on the subcontinent, the Indian economy was based predominantly on agriculture. Iyer has shown that since the Indian economy was so dependent on farming, British annexation policy focused on acquiring land with the most agricultural potential, guaranteeing that land taxation would be the East India Company’s/British government’s biggest source of income throughout the colonial period. In 1765-66, the East India Company had collected â€Å"the equivalent of  £1,470,000; and by 1790-1791, this figure had risen to  £2,680,000. † To ensure the land-revenue system, known as â€Å"tax farming,† would continue to supply money to the East India Company’s treasury, the Company introduced the Permanent Settlement of Bengal in 1793, an agreement between it and absentee landlords, known as zaminders. Through this policy, peasants who worked the land became the tenants of the zaminders, who, for themselves and the tax collectors, extracted as much as possible from those who cultivated the land. This settlement created a class of Indian landowners loyal to the English and a division in the rural society between the tenants and landlords, which last well into the 20th century. Indian climate is characterized by the monsoon, which generally includes nine months of dry weather followed by three months of rains known as the monsoon. At least once in a decade, the monsoon fails to arrive and a drought occurs. Indians for centuries had set aside a portion of crops to ensure there would be adequate food in times of drought. This practice was so successful that between the 11th and 18th centuries, India experienced only 14 major famines; yet, from 1765-1858, when it was under East India Company control, India suffered through 16 major famines, followed by an average of one famine every two years under British Colonial Office rule from 1859-1914. Under British rule during the 18th century, over 25 million Indians died of famine between: 1 million between 1800 and 1825, 4 million between 1825 and 1850, 5 million between 1850 and 1875, and 15 million between 1875 and 1900 ; more than 30 million deaths occurred from famine between 1870 and1910. Why did tens of millions die from starvation under the East India Company and the British Raj? Why, comparatively speaking, did so many famines occur under Britain’s watch? Historian Laxman D. Satya argues the famines were price-induced and that timely government intervention could have prevented millions of deaths from starvation. State intervention was minimal, however; Lord Curzon acknowledged once that a famine in Indian excited no more attention in Britain than a squall on the Serpentine. Like other European imperialists in the late 18th century, Britain – first through the East India Company – followed a laissez-faire doctrine whereby government interference in the economy was anathema; in addition, famine later was seen as a natural way to control overpopulation. According to Satya, â€Å"†¦ any act that would influence the prices of grains such as charity was to be either strictly monitored or discouraged. Even in the face of acute distress, relief had to be punitive and conditional. † The powers that be also began using famine labor to build an infrastructure – railways, roads – ensuring that revenues would continue to increase, expenditures would be kept low; worst of all, the new infrastructure allowed for the exportation of grain that could have fed the starving. Studies have shown that even in years of official famine – Britain only recognized three periods of famine there was never a shortage of food grains. The problem was that with prices for grains so high and wages stagnant, most people could not afford to buy them. As an example, during the Indian Famine of 1887-88, nearly 44 percent of total exports from Berar, one of the hardest hit provinces, were food grains. Between 1874 and 1903 the province exported an average over 40 tons of grain, and Satya has shown that this could have amounted for nearly 30. pounds of food per person. Historian and social commentator Mike Davis has cited even evidence that grains were exported to Europe for speculative trading while millions were dying of starvation. Since the primary concern for the government was maximizing returns on investments, it didn’t prioritize famine relief, considering those expenditures wasteful; therefore, relief camps were â€Å"deliberately kept in remote locations and beyond the reach of the physically weakened population. What’s more, people seeking relief were required to work on colonial projects as a condition for receiving food – as little as 16-22 ounces of food for a minimum of nine-10 hours of often grueling labor Fearing that Indian nationalists would take to the newspapers – in general, the government had a comparatively lax policy toward the press the Raj implemented tight press control through various laws including the Newspaper Act of 1908 and the Indian Press Act of 1910. It’s important to note that despite these and other attempts at press censorship, a large number of vernacular newspapers were published throughout the country and played an integral role in creating a nationalist/political consciousness in India.