Credit Ratings Role in the Financial Crisis

quote Ratings Role in the Financial CrisisThe global pecuniary systems institutional framework has been evolving on the whole over time.Every crisis has helped decipher a gap in the financial structure which is then fixed by the regulating authorities.It hasnt been very often that the regulators were able to identify the gaps before the market identified it.This does not serve the excogitation of existence of restrictive authorities.In future the affair of regulatory authorities should be pro active in nature rather than reactive mode of confinement corrective actions.The zepprime crisis which originated in the united states led to a global melt down which was severe.The mortgage market in the United States saw a horrendous growth in the initial years of the 21st century. Subprime borrowers started obtaining mortgages due to availability of cheap realization entry, lenient lending practices and appreciation in real estate values. These mortgages were inturn sell by the l enders to investment banks who packaged them into exotic securities and sold them to gamy hazard taking investors seeking high returns.Investors had faith in these packaged securities primarily because of reference Rating Agencies (CRA) evaluations of these securities as investment stage. In 2007, the tide turned and faith became expensive. Home values dropped. Majority of the subprime buyers started defaulting their loan payments. The CRAs rapidly downgraded all the securities for which they had disposed(p) thriving grades.This dissertation is under expectn to understand the emergence of structured financial products, the grade process followed by the book of facts evaluate agencies for grade them and the mistakes through with(p) by the rating agencies, a study contributor to the subprime mess in the United States which had ripple effect crosswise financial markets all over the world.Literature ReviewThe following query covers and articles rescue been referred and reviewed in order to gain indepth knowledge some the work make ab turn up the dissertation topic under supposeation. This would facilitate a clear understanding of different view points to the issue and enable a comprehensive analysis of the topic. correspond to V.Gupta, R.K.Mittal K.Bhalla (2010), low sideline evaluate, abundant liquidity and a chase for yield led to the emergence of sub prime lending which was given undue support by the deferred payment rating agencies. Credit rating agencies gave investment grade ratings to securitization transactions based on subprime mortgage loans. The CRAs unite trim rated mortgage loans with equity to form mezzanine CDO enabling a higher(pre titular) credit rating. Also CRAs employ the same risk metric for assessment of all instruments. The CRAs assigned supersafe, triple-A ratings to structured products that later(prenominal) turned out to be passing risky, and in some cases worthless. This has been illustrated with few examples of downgrades.The paper concludes that The regulatory framework should also facilitate the conduct of stress tests by users on key model parameters, and fork up for the disclosure by credit rating agencies of the economic assumptions fundamental their rating of structured products.According to Katz and Salinas (2009), faulty credit ratings and the flawed rating process comport been the key drivers to the financial crisis 2007-2008. bandage the easy availability of (what turned out to be flawed) ratings fueled the growth of thismarket, the subsequent downgrades in ratings accelerated the markets collapse.The paper suggests that While corporate debt ratings are based on publicly available, audited financial statements, structured debt ratings are based on nonpublic, nonstandard, unaudited information supplied by the originator or nominal issuer. Moreover, rating agencies had no obligation to perform due application program to assess the accuracy of the information and often reli ed on representations and warranties from the issuers about the quality of the selective information, which later be to be inadequate. The police detectives note that the credit rating agencies spend a penny always been slow to react to market events and a few examples have been quoted.Few measures suggested by the searchers include managing appointment of interest, better transparency, direct government oversight etc.According to Fender and Kiff (2004) , rating od collateralised debt obligations involves assumptions such as default probability, recovery rates and gibe defaults of pool as identifys. The research paper analyses one of the rating methodologies used which is termed as Binomial Expansion Technique.A comparative analysis of this method and four-card monte corlo Simulation is done. The paper elaborates the implications of usage of different techniques on the rating outcomes. It finally discusses how methodological differences might induce issuers to strategically s elect rating agencies to get CDOS rated.According to Barnett- Hart(2009), Collateralized debt obligations (CDOs) have been responsible for $542 billion in write-downs at financial institutions since the beginning of the credit crisis.The poor CDO death penalty has been attributed to inclusion of low quality collateral with exposure to U.S residential living accommodations market.The role of CDO underwriters and credit rating agencies in the crisis have been discussed. The credit rating agencies failed to rate the performance of CDOS precisely due to over automation in rating methodologies and heavy reliance on input whose accuracy was not verified. The researcher concludes that by understanding the CDO market meltdown story more effective regulatory and economic policies and practices to prevent history from repeating itself in the future.According to Securities and Exchange commission(2008), few observations about credit rating agencies with respect to CDOS have been made.SEC cl aims that few credit rating agencies could not deal with the substantial increase in the human activity and complexity of the CDOS since 2002. Rating agencies failed to document significant steps in rating of CDOS including reasons fucking deviation from the models. Also the internal audit procedure of rating agencies varied significantly.The report summarises the remedial actions that the Nationally Recognised Statistical Rating Organisations(NRSRO) would take later on the SEC examined them and came up with issues to be looked into. Under the new law and rules, NRSROs are required to make certain public disclosures, make and retain certain records, cede certain financial reports to the Commission, establish procedures to manage the handling of material non-public information and disclose and manage conflicts of interest. The Commissions rules additionally prohibit an NRSRO from having certain conflicts of interest and engaging in certain unfair, abusive, or coercive practices.A ccording to Partnoy (2008), Credit rating agencies have been the primary drivers of second level securitisation.Investors did not examine the underlying assets and depended on parameters set by rating agencies to assess the CDOS. If the Credit rating agencies had used reasonable and accurate models and assumptions , the CDO transactions would not have been problematic. The paper suggests some policy prescriptions which include elimination of explicit reliance on credit ratings and the claims made by rating agencies that the ratings are mere opinions should not be accepted any longer. The researcher suggests that rolling average of market measures is a much better representation of the instrument than the unchanged credit rating .Credit default swap spreads would provide a warning about the CDOs and their honest performance in the market.According to M.K.Datar(2011), the role of CRAs in the crisis has attracted attention basically owing to the severe downgrades during the initial st ages of the crisis. The conflict of interest in the payment model has been discussed and the author suggests that investor pay model should be adopt as the issuer pay model creates a bias as rating agencies might be prone to give good ratings because the issuers are paying for it.An alternative platform pay model has been suggested in the paper wherein an issuer approaches a clear house (platform) with a preset fee to get a rating. The platform would get the ratings done from a pool of recognised CRAs. This process avoids direct come across surrounded by the issuer and the rating agency.The paper concludes that better disclosures by CRAs and their subsidiaries in respect of details of earning from rating and non-rating revenues, default and transition statistics would play a key role in improved governance in CRAs.Problem DefinitionThe dissertation work is undertaken to understand the reasons behind the emergence of the subprime crisis in late 2000s and the role of credit rating agencies in the crisis.The study is divided into two parts studying the pre crisis and post crisis situations and analysing the change in credit ratings of various complex instruments in reaction to the crisis.The objectives are briefly stated as belowUnderstand the evolution of structured financial productsUnderstand the causes of subprime crisis contract the credit rating process for CDOSStudy the factors that drove the rapid downgrade of CDOs in the initial meltdown stagesAnalyse the flaws in the rating process which led to failure in forecasting true performance.Suggestions and corrective action for facilitating accuracy in credit ratings of complex products.Research methodologyResearch DesignThe method adopted for research is causal research wherein the problem in question is understood and the degree of impact of the cause on the effect under study is analysed. The financial crisis that began in 2007 is studied and the parcel of credit ratings to the crisis is analysed. Cred it ratings serve as the control group in this research. Finally suggestions for improvement in credit ratings and measures to be taken are proposed.Methods and Techniques of data collection and analysisTo achieve the research objectives, secondary data from reliable sources are being used. Thorough study of the existing literature is being done to understand different ideas and view points on the topic which would facilitate a comprehensive analysis of the issue. Methodology adopted for rating complex products by leading credit rating agencies has been studied in detail which includes statistical tools and financial models.Data sourcesData is being obtained from various secondary data sources for study and analysis.The major sources used for research are as followsCredit Rating Agencies websites and reportsBanking for International Settlements(BIS) working papers and reportsSecurities and Exchange Commission reportsJournals and papers published on Credit ratings contribution to the Crisis.DRIVERS TO EMERGENCE OF FINANCIAL CRISIS 2007-2008The financial crisis was fuelled right from the early 2000s through various factors , the most important of which is sub-prime lending. This inturn led to construction of CDOs at a later stage in order to transfer the concentrated risk of banks to the investors . Hence it is vital to get a clear idea about the emergence of sub prime lending and evolution of CDOs .Sub-Prime lendingThe sub-prime mortgage market caters to customers who are unable to meet rule credit and/or documentation requirements for mortgages. Subprime lending is riskier than normal lending for the banks. Hence banks tend to charge a higher interest rate to compensate for the risk. Over the past decade, this mark-up over prime rates has been about 2%, making lending potentially very lucrative. Only by the mid-1990s did the subprime mortgage market begin to take off as a number of factors emerged which apparently mitigated the default risk on such loans and thusly led to an increasing number of banks lending ever-larger amounts to this sector. Some important factors which contributed to a expand in subprime lending are discussed below.Introduction to Sub Prime LendingEvolution of Structured Financial ProductsCollateralised debt obligations have been one of the complex financial products which have been instrumental in driving the financial system into a crisis. The evolution of CDOs needs to be understood in order to study the emergence of the financial crisis.The basic principle behind a CDO involves re-packaging of fixed income securities and division of their cash flows according to a specified structure. A CDO is constructed by creating a brain-dead company, a special(a) purpose entity (SPE) or structured investment vehicle (SIV), which buys assets and issues bonds backed by the assets cash flows. The bonds are divided into a number of tranches with different claims on the asterisk and interest generated by the CDOs assets. The mechanics of a typical CDO are illustrated in Diagram A.1In order to understand the sudden growth in the pauperism for CDOs which in turn led to the financial crisis , it is vital to list out the reasons behind the growth of CDOs which are as below.Rationale behind growth of CDOsSecuritisation has been a way that helped banks to bundle loans and sell it to investors or make it off-balance sheet items .Once these items are removed from the balance sheet the capital adequacy gets more space and hence banks make new loans and the process continues. This basically facilitates banks to free up cash and easily meet BASEL norms for capital adequacy.The second rationale is re-allocation of risk.CDOs helps banks reduce the concentration of risk and also create securities as per specific requirements and risk profiles of the investors. This facilitated institutional investors to purchase CDOs as they can invest only in highly rated investment grade securities.CDOs allowed these investors to gain exposure to assets that, on their own, had been too risky, while investors looking to take more risk and receive potentially higher returns could buy the most junior or equity CDO tranches.2These are the major reasons behind growth of CDOs . Banks only thought of their own benefits and growth and the aftermath of this action was left to the market to cause in reality few years down the lane . The consequences of this act of the highly knowledgeable financial community has been faced by people across the globe.Credit Ratings and CDOs An overviewInvestors invest in securities based on various criteria one such being reliable ratings given by well cognise credit rating agencies. Credit rating agencies(CRA) were basically formed to guide investors assess risk of fixed income securities. CRAs have played a major role in the growth of CDOs market as investors relied on the ratings given to these complex structures and based their investments majorly on these credit ratings. They used credit ratings in place of their due diligence for assessment of CDOs.Credit rating agencies are approved by Nationally recognised Statistical rating organisation(NRSRO) . There are three well known players in the U.S financial market which areMoodysFitchStandard and PoorsThese three agencies rated CDOs and the fees generated by rating CDOs were quite high which led to record profits . The fortune of CDO deals that were rated by the credit rating agencies has been given in the below diagram.Source UBS CDO researchNote The percentage total exceeds 100 as the same instruments have been rated by more than one agency.Revenue earned by the rating agencies has grown since 2002 which has been depicted in the diagram belowSourcethismatter.com/moneyAccording to Mark Adelson, current Chief Credit Officer at SP The advent of CDOs in the mid-1980s was a watershed event for the evolution of rating definitions. Until the first CDOs, rating agencies were only producers of ratings they were n ot consumers. With the arrival of CDOs, rating agencies made use of their previous ratings as ingredients for making new ratings they had to eat their own cooking. For rating CDOs, the agencies used ratings as the primary basis for ascribing mathematical properties (e.g., default probabilities or expected losses) to bonds.3Credit rating agencies failed to examine the accuracy of the prior collateral ratings. They also used former(a) rating agencies ratings as base for rating CDOS without verifying accuracy.To adjust for the shortcomings in other agencies ratings they used a system called notching where the rating would be decreased by one notch if the rating has been done by another rating agency.For example , if Moodys is rating a CDO which has a collateral rated BB+ by Fitch , Moodys would consider the rating as BB and plug it into their rating model. No analysis of accuracy had been done and it would be assumed that the notching would compensate for any errors in the rating done by Fitch.Figure below illustrates a comparison between the collateral ratings and the corresponding CDO ratings at the beginning and also the current scenario.This shows that the CRAs somehow gave huge amounts of abdominal aortic aneurysm rated CDO securities from collateral with much lower ratings, reassuring the fact that that briny reason why CDOs were so profitable in 2005-2007 is that it was possible to generate a high proportion of highly rated securities from lower quality assets. That practice backfired, resulting in massive downgrades of the CDO tranches as it became apparent that the rating agencies had been overly optimistic. While in 2005-2007, the initial ratings given to CDO tranches were on average better than the ratings of their underlying collateral assets, current CDO tranche ratings are worse than their associated collateral pool ratings which is an area that needs attention.The following figure shows the downgrades of CDOs over the years. The numbers on the y-a xis correspond to the rating scale with lower numbers equal to higher-quality ratings (1=AAA, 22=D).An overview about the credit ratings and CDOs has been done. The following section elaborates the rating methodologies adopted by the rating agencies which have different variables considered for the purpose of rating the complex financial instruments and the assumptions behind them.CDO Rating MethodologyCDOs are based on portfolios of instruments combined together and not on a single loan. Rating these complex structures requires ascertaining a probability of default (PD) to each instrument in the portfolio and involves assumptions relating to recovery rates and default correlations. Thus it combines credit risk assessments of the individual assets and estimates about default correlations using credit risk modelling.There are two widely used methodologies for rating CDOs namelyBinomial expansion techniqueMonte Carlo SimulationEach method is discussed initially and then a comparison i s done between the techniques and their impact on the ratings.Steps in the Rating ProcessThe reliability of a CDO rating depends on the agencys ability to assess the credit risk in the underlying asset pool and accurate modelling of the distribution of cash flows from the asset pool to different groups. All rating agencies generally follow a two stage rating process. In the first stage, analytical models are used to assess credit risk. The tools applied for analysing CDO pools differ according to the nature of underlying assets and are also based on the rating agencies.The second stage of the process comprises of structural analysis. This stage involves detailed modelling of cash flows, legal assessments and evaluations of one-third parties involved in the deal such as asset managers. The results of the cash flow analysis are used as input in the credit model in the form of adjustments in particular model assumptions. Finally, all information is aggregated and combined into a singl e, alphanumeric rating which is benchmarked to the historical performance of bonds.RATING METHODOLOGIESThe famous CDO rating methodology is based on Moodys quantitative approach for determining expected losses for CDO tranches which is called the binomial expansion technique ( direct). BET was introduced in the year 1996 and is still used in CDO analysis along with a number of other new methodologies. The method relies on the use of diverseness score (DS) which is used to map the underlying CDO portfolio with a hypothetical portfolio that consists of homogeneous assets equal to the diversity score. For calculating expected loss distributions a simpler hypothetical portfolio of homogeneous, uncorrelated securities is used in place of the original portfolio. As the number of assets in the hypothetical pool is assumed to equal the diversity score, it will be lower than the number of assets in the actual CDO portfolio to account for uncorrelatedness under the BET.Given the homogeneous nature of the hypothetical portfolio, the behaviour of the asset pool can be explained by DS+1 default scenarios with default occurring for 0 assets, 1 asset, DS assets, where the probability of each scenario is calculated using the binomial formula. After working out the cash flows and losses under each default scenario, the obtained output from the binomial distribution are converted into estimates of the portfolio and tranche loss distributions.An alternative method that is used in by three major rating agencies is Monte Carlo simulation technique which estimates the default properties of the underlying CDO asset pool based on repeated trials of random defaults with correlation structure that is assumed. In this process, default events are simulated within a credit risk model, where default occurs when the value of assets fall below that of its liabilities. The models main inputs are asset-level probabilities of default and pair-wise correlations of assets, which are converted in to an estimate of the entire pools loss distribution. This distribution is used with other inputs, to determine the required subordination level (level of credit enhancement) for each CDO tranche, where desired tranche ratings are assumed constant or given.MC approaches give more accurate loss distribution estimates, they are computer intensive and take a long time to provide accurate results. Especially for cash flow CDOs it is very difficult to construct an efficient MC simulation that accounts for all cash flow nuances .Sometimes it takes hours for an MC simulation to determine the subordination level for an AAA tranche and this can be complicated when further assumptions are made. In managed portfolios, the sexual intercourse value of the simulation approachs asset-by-asset analysis is less while some of the BETs implicit simplifying assumptions (like equal position sizes) closely resemble typical covenants in managed deals. The choice of rating methodology basically considers a trade-off between accuracy and efficiency, and the result may differ for certain types of CDO structures. This is one of the reasons for Moodys to introduce a new Monte Carlo simulation-based method called CDOROM to rate static synthetic CDOs, while it continues to use the BET and its modifications for rating cash CDOs and managed structures.

Dementia Of Alzheimers Type Health And Social Care Essay

frenzy Of Alzheimers Type Health And Social C ar EssayAgeing brings with it changes in number of domains, including attitudes, health, self-image, relationships, status, generational changes, familiar functioning and an aw atomic number 18ness of season and mortality. These general themes all appears regularly in clinical work with older people as they come to marges with the realities of privacy or illness. (Wattis and Curran, 2006)The National policy on older persons confers the status of senior citizen to a person who has attained the age of 60 years (Ministry of Social judge website). An estimated 77 million people or 7.7 percent of the population are senior citizens (Help Age India website) M any(prenominal) of our aged senior citizens live with their families. Hence any physiological and psychiatric changes affect these family members. (Handbook of Psychiatric Social Work,2007)Understanding frenzyThe word frenzy is an umbrella term which describes a serious deteriorat ion in mental functions, much(prenominal)(prenominal) as recollection, language, orientation and judgement. Numerous definition of dementia has been suggested. Roth proposed that it is an acquired global injury of intellect, memory and personality. A much comprehensive definition has been suggested by McLean, namely, an acquired decline in a range of cognitive abilities (memory,learning, orientation and forethought) and intellectual skills (abstraction, judgement, Comprehension, language and calculation), accompanied by alterations in personality and behaviour which impair day-to-day functioning, social skills and emotional control. There is no clouding of consciousness, and some other psychiatric dis holy orders are excluded.Dementia usually has an insidious on frozen, with most people developing symptoms step by step oer a period of years. The progression of these diseases is largely unpredictable for each individual. How and what symptoms develop depend on what parts of th e brain are change by which illness, and the unique characteristics of each individual. Dementia has a life changing physical, emotional and mental impacted on the affected person and their ancient caregiver and family. Dementia is a neuropsychiatric condition in elderly, disabling illness of late life, which is a hidden worry in India, demanding immediate attention from professionals (Shaji Iype, 2006).Different compositors case of dementiaSome types of dementia are irreversible and progressive. This is not true for all types of dementia, oddly if detected archean.Types of dementia includeDementia of the Alzheimers Type rough 50 percent of all cases of dementia are fountd by Alzheimers disease.Vascular DementiaVascular dementia is cause by small strokes that stop ocellus flow to parts of the brain.Dementia Due to dispa roll General Medical ConditionsMedical conditions that can cause dementia include HIV, head trauma, Parkinsons disease, Huntingtons disease, Picks disease , Creutzfeldt-Jakob disease, metabolic disorders, and hypoglycemia.Substance-Induced run DementiaThe use of a substance such as alcohol or the sudden withdrawal from a substance can cause dementia. This is diagnosed just now if the symptoms last beyond normal withdrawal time for the substance.Dementia Not Otherwise SpecifiedThis is the category for dementia that doesnt fit in an preceding(prenominal) category.Dementia differs from delirium, which is characterized by a state of sudden confusion. Dementia is not part of the normal aging process nor is it mental retardation or psychosis. There are medications and therapies that can help manage the symptoms of the disease, making life easier for the patient and his/her family.Dementia of Alzheimers Type (DAT)Alzheimers disease is the most common form of dementia. Alzheimers Disease is named after the German Psychiatrist, Alois Alzheimer, who in 1906 first described the changes caused by the condition. The diagnostic criteria for DAT as menti onenessd in DSM-IV-TRA. The development of multiple cognitive deficits manifested by both (1) memory impairment (afflicted ability to learn new information or to recall frontly learned information) (2) one (or more) of the interest cognitive disturbances (a) aphasia (language disturbance) (b) apraxia (impaired ability to carry out aim activities despite intact motor function) (c) agnosia (failure to recognize or identify objects despite intact sensory function) (d) disturbance in executive functioning (i.e., planning, organizing, sequencing, abstracting)B. The cognitive deficits in Criteria A1 and A2 each cause epochal impairment in social or occupational functioning and represent a significant decline from a previous direct of functioning.C. The guide is characterized by delaying onset and continuing cognitive decline.D. The cognitive deficits in Criteria A1 and A2 are not due to any of the following(1) other central nervous system conditions that cause progressive deficits in memory and cognition (e.g., cerebrovascular disease, Parkinsons disease, Huntingtons disease, subdural hematoma, normal-pressure hydrocephalus, brain tumor)(2) systemic conditions that are known to cause dementia (e.g., hypothyroidism, vitamin B or folic acid deficiency, niacin deficiency, hypercalcemia, neurosyphilis, HIV infection)(3) substance-induced conditionsE. The deficits do not occur exclusively during the course of a delirium.F. The disturbance is not best(p) accounted for by another Axis I disorder (e.g., Major Depressive Episode, Schizophrenia).Code based on presence or absence of a clinically significant behavioral disturbance294.10 Without Behavioral choker if the cognitive disturbance is not accompanied by any clinically significant behavioral disturbance.294.11 With Behavioral Disturbance if the cognitive disturbance is accompanied by a clinically significant behavioral disturbance. (e.g., wandering, agitation)Specify subtypeWith Early Onset if onset is at age 65 years or belowWith Late Onset if onset is after age 65 yearsICD-10 diagnostic criteria for dementiaThe primary requirement for the diagnosing is evidence of a decline in both and thinking which is sufficient to impair personal activities of daily living. The impairment of memory typically affects the registration, storage and convalescence of new information, but previously learned and familiar information may also be lost, particularly in later stage. Dementia is more than impaired memory. There is also impairment of thinking and of reasoning capacity, and a reducing in the flow of ideas. The processing of information is impaired, in that the individual finds it increasingly hard to attend to more than one stimulus at a time. (e.g. taking part in a conversation with several people), and to shift the charge of attention from one topic to another. If dementia is the sole diagnosis, evidence of clear consciousness is required. However, a double diagnosis of delirium sup erimposed on dementia is common. The above symptoms and impairments should fall in been evident for at least six months for a confident clinical diagnosis of dementia to be made.Alzheimers disease (F00)In ICD-10, Alzeheimers disease (AD) is divide into Dementia in AD with early onset (F00.0) and Dementia in AD with late onset (F00.1). These categories include the definition of dementia discussed above. For Dementia in AD with late onset, onset is after the age 65years. AD has an insidious onset with a gradual decline in the mental stage, Memory difficulties, especially with regard to new memories, are usually the first symptoms to be noticed. Memory problems may be attributed to old age or absent-mindedness. The onset is so gradual that even a close relative living with the patient the early stages, previous personality may strongly influence the presentation. Patients with a tendency to be suspicious of others or to deny their own limitations may upset carers by accusing them of stealing misplaced items. Others may react to these early changes by change state extremely dependent on relatives, especially if family patterns of behaviour encourage this. Mood disturbance is not a diagnostic feature of AD. It may also be common in more advanced AD. Here it may not be reported by the patient, but may be inferred from behavioural changes and rejoinder to treatment with antidepressants. The patient usually lacks insight, and as the disease progress their behaviour may become more erratic. freak out with regard to time, place and person testament also increase, usually in that order. The combination of disorientation in time and place and topographical disorientation may cause the patient to wander, resulting in grand di strain for the family, risk to the patient and the involvement of neighbours, other individuals and the police, who may have to bring the patient billet. Patients may get up in the early hours accept that it is time to go to work or get the ch ildren ready for school. Hallucinations (usually visual) are fairly common, but are not usually evident except done the description of careers (e.g he spends a lot of time picking up imaginary food from thr floor). As the disease progress, the patient will become unavailing t recognise their relatives, who a great deal finds this distressing. The patient may then become distressed, as they may believe that their spouse or son or girlfriend in a intruder. In addition, the patient may fail to recognise him or herself , and this can also cause considerable distress. Carers often find that removing mirrors solves the problem. Other difficulties with moderate to severe impairment include apraxia, which presents with difficulties in dressing and washing and other tasks involving visuo-spatial skills. Dysphasia (inability to express oneself in words or to understand words) can regard to severe frustration when combined with all of the other impairments and confusion. Incontinence (bo th urinary and faecal) usually develops late in the disease and for umteen carers is the final straw. Eventually the evidence is reached when the patient is unable to or anything from him- or herself including the following dressing, personal hygiene, domestic tasks, toileting and feeding.There are characteristic changes in the brain a marked reduction in the population of neurons, particularly in the hippocampus, substantia innominata, locus ceruleus and temporopareital frontal lobe cortex appearance of neurofibrillary tangles made of paired helical filaments neuritic (argentophil) plaques, which consist largely of amyloid and charge a definite progression in their development (although plaques without amyloid are known to pull through) and granulovacular bodies. Neurochemical changes have also been found, including marked reduction in the enzyme choline acetyltransfearse, in acetylcholinse itself, and in other neurotransmitters and neuromodulators.Causes of ADAD is a primary d egenerative cerebral disease of unknown etiology, with characteristics neuropathological and neurochemical features. The precise aetiology of AD is poorly understood. However, it is important because such an understanding may have implications for both prevention and treatment. The relationship between cause and effect may be difficult to establish, particularly with regard to neurotransmitter deficits and the characteristics of neuropathological changes that are seen in AD. On the basis of epidemiological research, the most important risk factors for AD are old age and a family history of dementia and Downs syndrome.Alzheimers and the superstarAlzheimers disease leads to nerve cell death and tissue button throughout the brain. As the disease progresses, brain tissue shrinks and the ventricles (chambers within the brain that contain cerebrospinal fluid) become larger. The victimize disrupts communication between brain cells, crippling memory, speech, and comprehension.Alzheimers MedicationsThere is no cure for Alzheimers disease, and no known way to slow the nerve damage within the brain. But there are a variety of medications that appear to help have got mental function and slow the disease progression. If these treatments are minded(p) during the early stages of Alzheimers, your loved one may be able to remain independent and carry out daily tasks for a longer period of time. prevalence of DementiaGlobal ImpactWorldwide, there is a new case of dementia every seven seconds. As of 2008, there are an estimated 30 million people with dementia worldwide. By 2050, it is projected that this figure will have increased to over 100 million. Much of the increase will be in developing countries. Already more than 60% of people with dementia live in developing countries, but by 2040 this will rise to 71%. The alacritous growth in the elderly population is taking place in China, India, and their south Asian and western Pacific neighbours. (Ferri et al, 2005)Stages o f Dementia/ADKnowing a persons disease stage helps health professionals to determine the treatment address and aids communication between health providers and caregivers. Sometimes the stage is simply referred to as early stage, middle stage or late-stage dementia, but often a more exact stage is assigned, based on a persons symptoms. Geriatric population is more affected by dementia of Alzheimers Type (DAT) or Alzheimers Disease (AD) 60-65 % and other related disease. Therefore, when choosing a suitable hitch model for dementia one has to persist in in mind stages in dementia, context and circumstance, as care needs vary with stage to best help both the elderly people and their families.The below table demonstrates the changes in persons with Alzheimers disease and related disorders that usually occur during the progression of the illnesses. As patients move through stages, family issues are also changing. The type of clinical intervention that is most appropriate and effective for a particular family should be determined by the types of problems and issues the family needs to address.Early/Mild Stage mild memory loss and deterioration of skills 1-5 yearsChanges occurring in patientEffect on family membersClinical InterventionForgets familiar namesUnable to name familiar objectsUnable to wait what is readUnable to perform simple calculationsDecreased knowledge of current and recent eventsBecomes careless in grooming habitsBecomes anxious and frustrated in demanding situationsDenies memory problems and inability to perform tasksWithdraws from challenging situationsGets lost in familiar surroundingsDenial used as defense mechanism in coping with disquiet of relatives diagnosisFalse hope of improvementFear of futureFear that they will also get dementiaConcern round the effect on their lifeConflict over care planning decisionsFamily assessment to include genogram, influence of pre-existing family patterns, cultural items, quality of relationships, family co nflict, support system, and socioeconomic level.Educate about disease processValidation of feelings (e.g anger)Refer to caregiver support groupEvaluate environment of dementia victimRefer for information on well-grounded and financial issuesExplore care optionsMiddle/Moderate Stage Pronounced and severe decline of skills 5-15 yearsUnable to recall addresses, phone numbers, names of family membersDisorientation to time or placeHas difficulty choosing the proper clothing to wearDecreased ability to travel, handle finances, make decisionsFlattening of affect (facial expression)Sleeping pattern affectedBehaviour changes- may become delusional, obsessive, easily agitated, depressedRole changesSocial IsolationAnger, resentment over caregiving responsibilitiesEmbarrassed by patients behaviour guilt trip over relinquishing caregiving responsibilitiesConflict over care planning decisionsOverwhelmed by caregiving responsibilitiesMarital problemsDepressionHelp to prioritize caregiving tasksAs sist family with feelings associated with caregiving and/or institutional placement get along family members to continue contact with the person in an institutional setting, participating in their care planProblem-solve to alleviate conflict by resolving issuesEncourage affair in a caregiver support groupBe supportive to family members who are providing careIncrease family support networkUse crisis intervention strategies when indispensableEducate about behaviour managementIndividual, marital or family therapyLate/Severe stage Complete loss of functioning and basic skills 3-5 years unsuspecting of recent events and escortsUnaware of surroundings, the year, the seasonVerbal abilities are lostIncontinence of bowel and bladderLoses basic psychomotor skillsRequires assistance in feeding, difficulty in swallowingUnable to acknowledge recognition of family members, friendsWeight lossGrief over the loss of the person they once knewConflict over care planning decisionsGuilt over this des ire for the disease to progress to deathSupport the familys decisions on terminal care.Problem-solve to alleviate conflict by resolving issuesAddress the long term grief of caregivers and help them to prepare for their future without the patientProvide case management services as needed, continually assessing the patients needs and the familys coping ability project the family permission to let goEncourage funeral arrangementsEffects of ADAs people with dementia need sustained care, it becomes important to provide services for patients with dementia also provide support and guidance to their caregivers. The burden of looking after patients with AD is wide, and carers and families become physically and emotionally exhausted and socially more taxing. At this time families need support from the multidisciplinary team. For the better quality of life of both AD patients and caregivers, there is need for research and intervention models specific to individuals (familys) culture. Most of the time the caregivers are family members, they are encouraged to learn about the principles of long term care in general and dementia care in particular.In India, caregivers have their own strategies for care giving suitable to the family member of dementia. What is lacking is the knowledge of AD, therefore educating them is important, which will change their cognizance and attitude toward the family member (support with research). In boorish areas, lifestyle, physical activity (farming) and environment difference could have contributed to the lower percentage of dementia. This is in particular reference to research done in Ballabgarh (New Delhi, India), there exist no case of dementia in this area, as studied in comparison with/to Pennsylvania partnership of elderly people, USA. Developing countries are also comer the statistics of developed countries of increased life expectancy and stress related lifestyle, therefore, increasing risk of Dementia/AD.Some of the Intervention programs for caregivers are mentioned in the next session. This includes different models of intervention based on theory and research. Details of family intervention programs for caregivers of AD includes Educating about dementia, providing support-family counseling, group home support ,skill training. number of sessions, time period, and documentary, content, success rate/effectiveness of the session/model.Family Intervention/treatmentCaregivers of ADRole of caregiversChallenges faced by caregiversIntervention programsCaregiverIn our society more and more debt instrument is placed on the family to provide care. The family caregiver is that significant person in the family, who looks after the basic needs of the patient throughout the day. The care for the caregiver is of immense importance as this population suffers more psychological effect than the patient.With the onset of a disability, the family is forced to take on new roles and greater responsibility. This causes high le vels of stress in an already stressful situation. Caregivers are sometimes forced to give up their own needs in order to care for a family member. The sympathize with for someone and constantly giving up ones own personal interests can affect the caregiver both physically and emotionally which, in turn affects the patient. The caregivers need to be aware of their own feelings, judgements, and different ways of reacting to the patients behaviour. They must also take care of their own physical and emotional health in order to provide care to their loved one.Ethnicity and culture issues also play a greater role in care giving. In society today, we have many different types of families. Some cultures tend to have extended and blended families, which can offer more support to the caregiver. Some cultures also view care-giving as an judge family function that can put added pressure and stress on the family. It is important for treatment team to understand the patients needs, but it is a lso important that they understand the families (caregivers) needs. stress and caregiver burdenThe negative phenomena associated with caring for victims of illness and injury is defined as caregiver burden. Caregiver burden may be further categorised into objective burden and subjective burden. Objective burden included changes in the patients personality and behaviour which are seen by the caregiver as well as financial strain, changes in the daily routine, changes in living conditions, and changes in social activities. Subjective burden is defined as the caregivers negative reaction in reply to the presence of objective burden.A study conducted by Mitrani et al (2006) on the role of Family Functioning in the Stress Process of Dementia Caregivers A morphologic Family Framework. It was conducted on One hundred eighty-one family caregivers from the Miami site of the Resources for Enhancing Alzheimers Caregiver Health (REACH) project participated in this study. They assessed socio demographics, burden, depression, anxiety, and perceived health for each caregiver. The results of the study indicated that family functioning importantly contributed to distress in the overall sample and partially mediated the relationship between objective burden and distress. The implication of the study is that Family structural functioning is one contributor to the caregiver stress process. This suggests that interventions targeting structural family problems may reduce caregiver distress.The disease follows a predictable irreversible progression that lasts from between three to 20 years.NonPharmacologic Management of DementiaThe first line of treatment for an older person with dementia, especially one who has recently been diagnosed, is pharmacological, that is medication with cholinesterase inhibitors.Family systems ModelThe family systems model is based on the premise that members of family groups influence and are influenced by all other members. Each family is a unique sy stem, with its own set of rules that specify power structure, roles, communication techniques, and problem solving (Bowen, 1971 Haley, 1971 Minuchin, 1974 Kerr, 1981). Family treatment from a systems framework begins with an assessment of family organization and functions. An understanding of the familys structure and dynamics is necessary for making decisions regarding change strategies.From a family systems perspectives, the changes in health and functional status that are associated with dementia affect all members of the family unit. Although a primary caregiver usually assumes the daily care of the dementia patient, all family members experience some changes in roles, relationships, and goals. In some cases, the burden on the family can become excessive, jeopardizing the familys physical, emotional, and social stability (Niederehe Fruge, 1984)Interventions based on the family systems model can be focused on cognitive, emotional, and/or behavioural levels of functioning in fami lies (Wright Bell, 1981). These interventions are directed toward change within the structure of the family, altering the postions of family members and resulting in individual changes as well. The following types of interventions have been found to be effective with families of dementia patients and can be used alone or simultaneously.Cognitive interventionsDirected at the cognitive level of family functioning, these interventions provide new information or a new perspective on a problem. They can include educating the family about the dementing illness and discussing the capableness effects of the disease on family members. The next step is to suggest ways in which the family can respond to these effects and to provide information about community resources. It may be extremely painful for the family of a dementing patient to make the decision to place her in a nursing home. The clinician can provide an objective viewpoint, alleviating some of the familys guilt in making the fina l decision.Emotional interventionsThese interventions validate a familys emotional responses and often affect feelings that may be blocking their efforts at problem solving. Validation of family members emotions, such as sadness, anger, and guilt, can help them understand the connection between the dementing illness and their stress. In the validation process, it is important to emphasize that the whole family is affected by the illness.Behavioural interventionsAimed at the behavioural level of functioning, these interventions can assist family members in modifying behaviours that cause problems in their interactions. This type of intervention attempts to change such behaviour by teaching new adaptive skills. Families area also encouraged not to make sudden and major adjustments in their daily routines following a diagnosis of dementia. Family members do not all react in the analogous way to this illness whereas some tend to exist in a state of denial throughout the initial stages and fail to recognize the real needs of the patient, others overcompensate and encourage dependence by the patient. To avoid a dogging state of family disruption, it may be necessary to assign specific behavioural tasks to family members. At the same time, it is important to emphasize that family members should try to continue their regular activities and maintain their accustomed role responsibilities for as long as possible.Before intervening in a family system that is dealing with a dementing illness, clinicians need to understand the familys perception of the illness. The clinicanss objectives is to help the family to adjust t it, not necessary to accept it.Tracy was a 30 year old teacher who sought help for her recent anxiety attacks. During the initial interview with the social worker, she focused on her mother, who was caring for Tracys grandfather, an Alzheimers patient. Tracy and her mother had always had a good relationship, but Tracy had now become focused on how her mo ther was coping with her grandfathers illness and was making recommendations on how she could get some respite from her caregiving responsibilities. Her mother refused to consider Tracys recommendations.ProblemOriginally sympathematic to her mothers caregiving situation, Tracy was now frustrated and provoked because she thought her mother was neglecting herself and other family members while caring for grandfather. Tracy reacted to her grandfathers illness by focusing intensely on her mothers cargiving responsibilities and taking on her mothers problem as her own. This focus on her mother allowed her to avoid dealing directly with her feelings about her grandfathers progressive illness and eventual death.Tracys mother reacted to her fathers illness by overcompensating and enmeshing herself in the role of caregiver. Although she often complained that caring for her father was exhausting and left her with little time and energy for herself or other famly members, she refused to consi der assistance from her family or community services.Treatment approachAdvise Tracy to stop giving recommendations to her mother, but to continue to be supportive.Encourage Tracy to discuss her feelings about her grandfathers illness and any perceived expectation that she would assume the same caregiving responsibility for her mother in the future. circularise communication between Tracy and her mother (and other family members, if possible) to share contents about the patients illness.Suggest meeting with Tracys mother. Encourage her to set time aside for herself and her family, providing support and information on resources and care options. Giver her permission to acknowledge the negative as well as positive feelings of caregiving.GoalsOpen lines of communication between Tracy, her mother, and other family members.Acknowledge Tracys and her mothers feelings associated with the patients illness.Remove Tracys self-imposed responsibility for solving her mothers caregiving problems.F amily MediationFamily Mediation is a family- oriented, problem-solving, task completion model that was primitively used as an intervention in child custody and divorce situations, child-parent conflicts, and family disputes (Parsons Cox, 1989). A model that empowers mediation is an effective strategy for many of the caregiving problems that occur during the course of a dementing illness.The mediator role is based on conflict theory. Three dimensions of conflict have been identified with these caregiving familiesa. Family members perceptions of illness and strategies for care.b. Their attitudes and behaviour toward the patient andc. Their attitudes and behaviour toward the primary caregivers (Miles Huberman, 1984, Semple, 1992).Conflict often results from interaction between systems such as individuals, families, organizations, and communities, and may grow out of differences in values and power that make it difficult for the parties problematic to define ways to agree or disagre e. The role of the mediator is to move the conflict from the emotional and values level to a more objective level that provides the opportunity for negotiation.Families involved in the care of a person with dementia are faced with many options for difficult decisions, such as relocation, assignment of caregiving responsibilities, home health care, assisted living arrangements, and nursing home placements. Participants in the decision-making process may include dementia patients spouse, children, friends, neighbours and professional care-givers. Decisions involving several participants are usually not unanimous, with conflict resulting throughout the process from feelings of guilt, grief connected with the progression of the deme

Body Image, Self Esteem and Eating Relationship | Methods

Body Im season, Self Esteem and Eating Relationship regularitysMethodologyIn this chapter, we are going to demonstrate the research design, respondents, instrument, procedure and data analysis that we use at doing the research study. For our research, we used Body Shape Questionnaire (BSQ-16B), Rosenberg Self-Esteem Scale (RSE), and Eating Attitudes Test (EAT-26) at investigating the relevance of body image with both self-esteem and eat attitudes. Furthermore, histrions were focused at female Foundation students of UTAR. Details were further discussed in our side by side(p) subtopic.Research DesignResearch design is defined as a tool to gather relevant evidence that involve with a specification of the typeface of useful evidences needed for answering our research skepticism, running playing a theory and to describing some phenomenon shown (McGaghie, Bordage, Crand every last(predicate), Pangaro, 2001). In other words, research design is to answer the primary question as su ggested in our research clear enough from the uncertainty. In this study, a quantitative research with cross-sectional design was selected to use. A quantitative research refers to an falsifiable method used to explain phenomena by collecting numerical data. The term cross-sectional design implies that one or more samples are drawn from the universe at one point of time (Shaughnessy, Zechmeister, Zechmeister, 2010).In addition, a purposive sampling particularly the stratified purposeful sampling was utilized in this research. In a purposive sample, the sample is typically designed to pick a small number of cases that will yield the nearly information about a particular phenomenon. In other words, it involves selecting information-rich cases for in-depth study. Purposive sampling leads to greater depth of information from a smaller number of carefully selected cases (Teddlie Yu, 2007). On the other hand, a stratified purposeful sampling presenting and providing characteristics of particular subgroups of interest and facilitates compare. It involves capture major variations rather than to identify a common core (Patton, 1990).RespondentsThe female Foundation students in UTAR (Perak Campus) save been targeted as the population of this research. There are 1427 female Foundation students and a sample consisted of c students (N=100) from both science and art streams participated in this study. In balancing the body size groups, 50 plump and 50 thin female participants between the ages of 18 to 23 years old (M= 20.16, SD= 1.45) were selected.This study focused on female Foundation students is that they are at a much higher rate to experience body image disturbance and disordered eating than males (Serdar, n.d.). In having adjustment to new lifestyle, females might have thought changing and more aware of themselves and how others perceive them as they meet more new population in the new environment. Whereas, the relationship between body image dis contentment and eating disorders has non significantly correlated with males (Furnham, Badmin, Sneade, 2002 Wimbish, 2009) and hence, the study did not include males to prevent the conjecture of producing extreme scores.InstrumentBody Shape Questionnaire (BSQ-16B). The BSQ 16-item is a refined self-report questionnaire developed by Evans and Dolan (1993) to assess body dissatisfaction and concern over body shape. Participants rate the items establish on a six-point Likert scale, ranging from 1 = never to 6 = always with higher scores indicate greater body shape dissatisfaction. Items are all presented as self-statement such as Have you been afraid that you might become fat (or fatter)? (item 2) and Has seeing your reflection (e.g. in a mirror or shop window) make you feel bad about your shape? (item 13). The BSQ-16B has been found to be a reliable and valid measure of body image satisfaction as it had been shown to have good test-retest reliability (.88) (Hudson, 2008) and excellent internal consistency (.95) (Pook, Tuschen-Caffier, Brahler, 2008).Rosenberg Self-Esteem Scale (RSE). The RSE is a 10-item self-report questionnaire developed by Rosenberg (1965) to measure global self-esteem level of participants in this study. Participants rate the items based on a four-point Likert scale, ranging from 3 = strongly agree to 0 = strongly disagree with higher scores indicate higher level of self-esteem. Items are all presented as self-evaluation on positively charged self-esteem (item 1, 3, 4, 7, 10) and negative self-esteem (item 2, 5, 6, 8, 9). RSE has been found to have good test-retest correlations of .82 to .88 and internal consistency of .77 to .88 (Hudson, 2008), which indicate the test is having high reliability of measure self-esteem.Eating Attitude Test (EAT-26). The EAT 26-item is an abbreviated version developed by Garner, Olmstead, Bohr, and Garfinkel (1982) from the original scale which is EAT-40. EAT-26 is a most widely used standardized self-report question naire to measure the symptoms and concerns characteristics of eating disorders. Participants rate the items based on a six-point Likert scale (3 = always, 2 = usually, 1 = often, 0 = sometimes, 0 = rarely, 0 = never) with a cutoff scores of 20 had been suggested to identify persons with problematic attitudes and behaviors towards eating. Items are presented in three subscales 1) Dieting (item 1, 6, 7, 10, 11, 12, 14, 16, 17, 22, 23, 24, 26), 2) Bulimia and food preoccupation (item 3, 4, 9, 18, 21, 25), and 3) Oral overcome (item 2, 5, 8, 13, 15, 19, 20). The EAT-26 has been shown to have a good intercorrelations with EAT-40 (r = .98) and good internal consistency (.90) in non-clinical populations (Garner et al., 1982).ReliabilityIn this study, the reliability of variables has been analyzed. The results of Cronbachs Alpha reliability test showed that all the scales are highly reliable of BSQ-16B (16 items = .94), RSE (10 items = .737), and EAT-26 (26 items = .791) (Appendix ).Pro cedureBefore the commencement of questionnaire distribution, proper liaison was made by sending a formal letter to cumulate the permission from Centre for Foundation Studies (Perak Campus) to retrieve data on the population number of female Foundation students.After the permission was granted, the survey was conducted at occlusive B, C, and D of UTAR Perak Campus which Foundation students are majority gathers. The questionnaires were distributed manually to the potential participants. A consent form was attached to the questionnaire and the nature of the study was explained clearly to participants. The participants will not able to take part in the survey if they did not give the consent to the student researchers. Furthermore, the total score of EAT-26 (Section D) had been counted on the spot once the participant completed the questionnaire. Participants with a score of 20 or more or answered affirmatively to any of the behavioral questions had been suggested to seek evaluation f rom mental health professional.The questionnaires were collected from the participants with 100% response rate. Each questionnaire was checked to ensure there were balanced numbers of participants from both groups. The completed questionnaires were then later analyzed.Data AnalysisStatistical software for the Social Science (SPSS) Version 20.0 was used during the analysis of data. The demographic data was analyzed by use descriptive statistics to measure the concoct, standard deviation, and frequency of age and body size group. The first research question was analyzed by mean and standard deviation on measuring the body image satisfaction level between thin and plump female Foundation students. Next, Independent Sample t-Test was used to test the second research question to determine the mean difference of body image satisfaction and eating attitudes between thin and plump female. Furthermore, the third and forth research question were tested by using Pearsons Coefficient of Corr elation on accessing the relationship between body image satisfaction with self-esteem and eating attitudes respectively to examine whether there is any positive or negative significant relationship between these variables. The level of significant difference (p-value) was adopted at t-Test and ReferencesShaughnessy, J. J., Zechmeister, E. B., Zechmeister, J. S. (2010). Research methods in psychology (9th ed.). New York, NY McGraw-Hill.McGaghie, W. C., Bordage, G., Crandall, S., Pangaro, L. (2001). Method Research design. ledger of the Association of American Medical Colleges, 76(9), 929-930.Patton, M. (1990). Qualitative evaluation and research methods Adobe Digital Editions version. Retrieved from http//legacy.oise.utoronto.ca/research/field-centres/ross/ctl1014/Patton1990.pdfTeddlie, C., Yu, F. (2007). Mixed method sampling A typology with examples. Journal of Mixed Methods Research, 1(1), 77-100. Doi 10.1177/2345678906292430Serdar, K. L. (n.d.). Female body image and the mas s media Perspectives on how women internalize the ideal body standard. Retrieved from http//www.westminstercollege.edu/myriad/index.cfm?parent=2514detail=4475content=4795Furnham, A., Badmin, N., Sneade, I. (2002). Body image dissatisfaction sexual practice differences in eating attitudes, self-esteem, and reasons for exercise. The Journal of Psychology, 136(6), 581-596.Wimbish, T. R. (2009). Eating disorders, body-image dissatisfaction, and drive for muscularity in African American gay and straight men (Doctoral dissertation). Available from ProQuest Dissertations and Theses database. (UMI No. 3391518)Pook, M., Tuschen-Caffier, B., Brahler, E. (2008). Evaluation and comparison of different versions of the Body Shape Questionnaire. Psychiatry Research, 158, 67-73. doi10.1016/j.psychres.2006.08.002Garner, D. M., Olmstead, M. P., Bohr, Y., Garfinkel, P. E. (1982). The Eating Attitudes Test Psychometric features and clinical correlates. Psychological Medicine, 12, 871-878.

Platos Apology Essay -- The Apology Socrates Plato Philosophy Essays

Platos Apology In the retelling of his trial by his associate, Plato, entitled The Apology Socrates claims in his defense that he only wishes to do good for the polis. I believe that Socrates was innocent of the accusations that were made against him, but he possessed contempt for the court and displayed that in his conceitedness and these actions led to his death. In his defense, Socrates claims over and again that he is innocent and is not at whole wise, for I know that I have no wisdom, small or great. passim the rest of his oration he seems to act the opposite as if he is better than every man, and later he even claims that, At any rate, the humankind has decided that Socrates is in some way superior to other men. This seems to be his greatest mistake, claiming to be greater than even the jury. Socrates was accused of bringing false gods into the polis and degrading the youth. The only false god was himself. For he might have presented himself in such a way to his many followers. These followers were mostly, as he says, slopped young men with not much to do. This I could imagine is where a good deal of his conceitedness comes from, being almost worshipped be others. These men followed all of his teachings and practices, including the condescending cross-examinations, which were probably the worst of his acts. Socrates high respect for himself also may have started with the oracle from Delphi, when Chaerephon, asked the oracle to tel...

Pros and Cons of Globalization and Localization Essay -- Globalization

Growing up in the United States, we have been lucky enough to have been blessed with a changeless economy. there has al guidances been the extreme feeling of complacency and stability that comes with creation a very large, internationally respected country. Strangely enough, America does not alone reap the benefits of worldwideization, but it also basks in the glory of jam. We have, as a country, experienced much success both internationally and domestically. For example, without our international businesses booming the way they atomic number 18, our country would suffer from a great economical loss. 1 third of the growth of our economy comes from exports. (The crude York Times, 9/15/98) On the other hand, localization brings the citizens a great sense of nationalism. It feels good to see something with a made in America tag on it, and it also feels great to know that we are not totally dependent on other countries.On more of an international level, there is no question that freer capital flows have brought tremendous benefits to the global economy, as well as perils. Some places, like Hong Kong, have opened themselves to capital flows without restriction and are examples of the prosperity that free movements of capital can reap. (The New York Times, 9/20/98) On the other hand, the Malaysian economy, so far, has witnessed some short-term success with a localized view on their economy. Malaysia bans most investments from being taken out of the country within the first year. (The New York Times, 9/20/98) Many countries are planning to try to follow in their footsteps.There are so many pros and cons, or costs and benefits, of both globalization and localization. For the United States, being a largely international economic country, trading... ...with those changes are the adaptations that all(prenominal) country and each citizen of each country must go through. Whether or not the government chooses to act globally or domestically, there needs to be a co nscience effort to make the best of what is offered.From each of these economic views, there are fundamental gains and fundamental losses. Neither is a more discipline way. It is just what works for a country on a whole. There are all different levels of economic complexity that goes along with these two schools of thought. One has to do with the citizens, another with the government, and another with the world. The best thing for a country to do is to give up as little as it can spot its political systems and economy conform to what it wants. To do so, one must weigh the costs and benefits of each, choosing what will be the best in the present and in the future.

The Legendary Musician, Ray Charles Robinson Essay -- Biography Biogra

The Legendary Musician, Ray Charles Robinson Ray Charles Robinson was born on September 23, 1930 in Albany Georgia. Hisfather was Bailey Robinson, a railroad repair man, and his mother wasRetha. His father never married his mother. His legal wife was Mary Jane,who also helped to raise Charles. By the time he was three, young Charles was learning to play the piano.When he was five his brother, who was three at the time, drowned. A fewmonths later Charles got the disease that would make him go blind by thetime he was seven. After he became totally blind at the age of seven, Charles went to aschool for the blind in St. Augustine, Florida, where he learned to playthe trumpet, the saxophone, the clarinet, and organ, though his preferredinstrument is still the piano. When Charles was 15, his mother died from food poisoning. He decided tobecome a musician soon afterward and he set out on his own. He played withvarious band throughout Florida until he was seventeen. He then wanted toget as far away as possible from Tampa and also stay in the United...

Emily Brontes Wuthering Heights - Frame Narrative Essay -- Wuthering

Wuthering Heights Frame Narrative Frame narrative is set forth as a story within a story. In each frame, a different individual is narrating the events of the story. There are two main frames in the novel Wuthering Heights. The first is an overlook provided by Mr. Lockwood, and the second is the most important. It is provided by Nelly dean, who tells the story from a first-person perspective, and depicts the events that occur through her life at Wuthering Heights and Thrushcross Grange. Nelly Dean is a native of the moors and has lived all her life with the characters whose story she tells. Although she is an uneducated woman, Emily Bronte manages to express Nelly as a capable storyteller in two explanations. The first is how Lockwood comments on her intelligence and expression, and believes she is one of the more intelligent minds of the moors Excepting a few provincialisms of slight consequence, you have no marks of the manners which I am habituated to consider as peculiar t o your class. I am sure that you have thought a good deal more than the generality of retainers think. You have been compelled to cultivate your reflective faculties for call for of occasion for frittering your life away in silly trifles. The second explanation of Nellys thought and expression is through the wisdom she has achieved through the harsh school she has endured over her life, and through the good libraries at the Heights and Grange that have given her knowledge and a wide vocabulary. Miss. Dean never mentions anyone ... ...es he minded teensy what tale was told since he had what he wanted. Her criticism of the other characters and her loyalty towards them not only make her a good narrator, but also an excellent servant and a confidant to the characters. Even though she is a servant, her intelligence and knowledge of self-worth create equality between her and the other characters, giving her the ability to speak her mind. Nellys narration comes from being closely and privately involved in the lives of the characters in the story. She not only acts as a witness to the events in their lives, but also as somewhat of a judge and critic to their actions. Nelly is our guide through the story, and without her voice, we would never be aware of the strange and amazing events that occurred in Wuthering Heights.