Recent Global Economic Recession - Free Essay Example

Foreign Investment during the recent global economic recession ABSTRACT:- The year 2008 marked the end of a growth cycle in international investment that started in 2004 and saw world foreign direct investment (FDI) inflows reach a historic record of $1. 9 trillion in 2007. Since then FDIs have been decreasing. The fall in global FDI in 2008–2009 is the result of two major factors affecting domestic as well as international investment. First, the capability of firms to invest has been reduced by a fall in access to financial resources, both internally – due to a decline in corporate profits – and externally – due to the lower availability and higher cost of finance. Second, the propensity to invest has been affected negatively by economic prospects, especially in developed countries that are hit by the most. The setback in FDI has particularly affected cross-border mergers and acquisitions (MAs), the value of which was in sharp decline in 2008 and early 2009 as compared to the previous year’s historic high. It has also taken the form of a rising wave of divestments and restructurings. Nevertheless, some favorable factors for FDI growth are still at work, some of which are even a consequence of the crisis itself. Public policies will obviously play a major role in the restoration of favourable conditions for a quick recovery in FDI flows. Structural reforms aimed at ensuring more stability in the global financial system, renewed commitment to an open environment for inward and outward FDI and the implementation of policies aimed at promoting investment and innovation are key issues in this respect. INTRODUCTION:- The current global financial crisis has its roots in the US, Europe and other advanced countries. Its proximate causes include sub-prime lending, faulty distribution models, unsustainable financial engineering and derivatives usage, and faulty credit rating by agencies, a lax regulation and large global imbala nces in those countries. But the fundamental cause of the crisis was the loose and excessively accommodative monetary policy followed by the US and other advanced economies from 2002-04. The global economic crisis has triggered a slowdown in global economic growth that is manifesting itself in a demand-driven fall in international trade exacerbated by the deficit of credit and trade finance; falling commodity prices; declining remittances; contracting foreign direct investment (FDI); and the potential of declining official development assistance (ODA). With a globalized system, a credit crunch can ripple through the entire (real) economy very quickly turning a global financial crisis into a global economic crisis. EFFECT ON FOREIGN INVESTMENT:- The financial instability triggered by the United States subprime crisis which began in summer 2007 has led to a progressive deterioration of the investment situation. Foreign direct investment (FDI) flows declined by more than 20% in 2 008 . In 2007, the capital outflows from US to emerging market economies spurted to around $600 billion per annum, only to crash soon . The effect of the sudden reverse flow of capital (particularly of portfolio investments) was a particularly traumatic experience for the EMEs. It had severe implications for their monetary management and financial stability. The global crisis has a direct bearing on capital inflows into India. The rate of FDI inflow recorded an increase in 2008-09 compared to the previous year, the FIIs (net) recorded heavy stream of outflows from India in 2008-09 contrary to a healthy rate of inflow in the previous year . A major challenge for developing countries is to continue to attract foreign investment during the crisis to stimulate economic activity, especially for investments that serve long-term development goals and enhance competitiveness (e. g. investments in infrastructure, agriculture, sustainable energy, material/resource/energy efficiency and tec hnology). While 2007 was a record year for FDI to developing countries , equity finance is under pressure and corporate and project finance is already weakening . The proposed Xstrata takeover of a South African mining conglomerate was put on hold as the financing was harder due to the credit crunch . There are several other examples e. g. in India . In the face of the global economic slowdown (and recession in a number of major economies), tighter credit conditions and falling corporate profits, many companies have announced plans to curtail production, lay off workers and cut capital expenditure, all of which has implications for FDI . However, the impact of the crisis varies widely, depending on region and country, with consequences for the geographic pattern of FDI flows . The current crisis began in the developed world, though it is rapidly spreading to developing and transition economies. Developed countries have thus been directly hit by the financial crisis, while its effects on developing economies have so far been indirect in most cases, with varying degrees of severity among regions and countries. This has direct consequences on the geographical patterns of FDI inflows. There is ample evidence that the global crisis is having a negative impact on international investment. Tighter credit conditions and lower corporate profits have weakened companies’ capability to finance their overseas projects; while the global economic recession and a heightened appreciation of risks have eroded business confidence. Many large TNCs have revised their global expansion plans downward, and divestments have taken place . The trend is widespread, hitting all sectors and all three major types of foreign investment (i. e. market-, efficiency- and resource-seeking foreign investment) . FDI flows to financial services, automotive industries, building materials, intermediate goods, and some consumption goods have been the most significantly affected, but the consequences of the crisis have been quickly expanding to FDI in other activities, ranging from the primary sector to non-financial services. Concrete examples of decreases in FDI †¢Financial services are experiencing a wave of restructuring in most affected countries. AIG of the United States, for example, is selling off its Japanese and Philippines insurance affiliates . In the mining industry, Rio Tinto (United Kingdom and Australia) and Anglo American (United Kingdom) have indicated that they will reconsider their global expansion plans in the light of waning business confidence and the worsening economic outlook . British Petroleum announced in October 2008 that it will cut 5,000 jobs worldwide in 2009, mainly in developed markets . †¢In the Democratic Republic of the Congo, for example, there has been a spate of mine closures forced by the global economic downturn, and fly-by-night investors have undermined the mining industry’s sustainability and the welf are of its workers. In the automotive industry, leading United States automobile maker General Motors announced in November 2008 – even before the bailout granted by the United States Federal Government – plans to cut costs and capital spending while raising funds through the sale of assets . Daewoo, a subsidiary of General Motors, announced that it would temporarily close Republic of Korea factories in the same month . Opel, a subsidiary of General Motors, has asked for more public support from the German Government . Ford shut down its operations in Berdaux, France, due to poor sales, from October 2008 to January 2009 . French automaker PSA halted its car production in China, and it intends to temporarily close factories in Spain and France. Another French automaker, Renault, also plans to reduce jobs significantly in Europe. Nissan also eliminated 20,000 jobs . †¢Lafarge the world’s largest cement producer also sold its cement and aggregates units in Italy to local group Sacci . †¢GlaxoSmithKline (United Kingdom), the world’s second largest drug maker by revenue, is cutting its operations in the United States . French cosmetics group L’Oreal, faced with a sales slump, announced in November that it would close two factories in Europe, one in Monaco and one in Wales (United Kingdom) . †¢ArcelorMittal (Luxembourg) and POSCO (Republic of Korea) have started to revise their growth plans . The setback in FDI has particularly affected cross-border mergers and acquisitions (MAs). It has also taken the form of a rising wave of divestments and restructurings. International Greenfield investments have been less impacted to this point, but could be increasingly affected in 2009 as a large number of projects are presently being cancelled or postponed. In developing and transition economies, FDI inflows have so far remained more resilient. The growth rate of FDI inflows to developing countries, while lower than in 2 007 (when it exceeded 20 per cent) should still reached 4 per cent. The situation is rapidly deteriorating. UNCTAD estimates that global FDI inflows declined by 15 per cent in 2008, to about $1. 6 trillion This sharp decrease marks the end of a growth cycle which lasted four years. Further decline is anticipated for 2009, especially as regards flows into developing countries. While the decrease in FDI inflows has hit developed countries the hardest, some developing economies with open but weak financial systems are also very vulnerable to external shocks . They face unprecedented challenges from the possible drying up of financial flows from both official and private sources. For example, FDI inflows are expected to have declined sharply in such countries as Indonesia, the Republic of Korea, Pakistan, Singapore and Turkey, due to fallout from the financial crisis. A major exception is the United States, where FDI flows may have risen by 38 per cent in 2008 to $321 billion (ann ex table). This can be explained by two major factors: foreign parent companies may have transferred capital to their United States affiliates in financial distress, in the form of equity or intra-company loans, and/or the crisis in the United States economy has triggered new opportunities for the acquisition of local firms by foreign interests . Reduced access to finance. Financial factors have negatively affected TNCs’ capacity to invest , both internally and externally, as tighter credit conditions and lower corporate profits curtail TNCs’ financial resources for overseas investment projects (as well as domestic ones). On the one hand, credit has become less abundant and more expensive. The external funding environment for non-financial companies has deteriorated markedly since mid-2008 , making it more difficult for them to invest in foreign operations or to make cross-border MA deals. The gloomy evolution of markets, including the looming sharp economic rece ssion worldwide (and even recession in a number of developed countries) and a heightened appreciation of risk, has also reduced firms’ propensity to invest for further expansion both domestically and internationally of production capacity. Risk aversion. Companies’ investment plans may also be scaled back due to a high level of perceived risks and uncertainties, in order to develop resilience to possible â€Å"worst-case† scenarios regarding financial and economic conditions . There has been a recent rise in divestments and restructuring of operations. Companies indeed undertake divestments and make cuts in existing production capacity – either by shutting down plants or factory lines, or by selling some of their assets to other companies– to restructure foreign operations, save costs, or improve their balance-sheet situation, especially through lowering the debt-equity ratio . There is also evidence that cross-border MAs have already been sharp ly affected as a direct consequence of the crisis, with a 17 per cent decline in cross-border MAs in the first 10 months of 2008 as compared to the same period of 2007. The decline in cross-border MAs is of utmost importance for FDI flows, which are strongly correlated with cross-border MA amounts. However, positive driving forces remain at work. There are a number of reasons why TNCs might remain committed to FDI, even in the midst of the crisis. First, a number of large emerging economies, such as Brazil, China, India and the Russian Federation, have remained attractive to FDI, particularly to market-seeking FDI. They maintained relatively high economic growth rates (compared to advanced economies) in 2008 . As prospects continue to deteriorate in developed countries (more markedly than in developing ones), investors will favour the relatively more profitable options available in developing countries . Examples of FDI in developing and transition economies arising from conti nuing market opportunities in those countries, or the longer-time horizons of investing TNCs include: †¢PepsiCo announced in early November that it would invest an additional $1 billion to expand its production in China in the next four years , while at the same time shutting down six factories and laying off 3,300 workers in the United States in order to cut costs . Italian automaker Fiat Group and OJSC Sollers signed a letter of intent in November to expand production of Fiat cars in the Russian Federation , where demand remains strong, despite the slowdown in the automobile industry in Europe and the United States. This is part of the shift of production towards emerging economies. For example, in 2008, the total number of car sales in the â€Å"BRIC† countries (Brazil, the Russian Federation, India and China) was expected to exceed that in the United States . Second, financial crises and tough economic periods also offer opportunities to companies to buy assets at â€Å"bargain prices† and take advantage of large-scale industry consolidation in some activities. For aggressive, cash-rich TNCs – or those from cash-rich countries – the acquisition of undervalued assets may boost their investment in both developed and developing countries, depending on the circumstance and opportunities . Examples of increases in FDI through cross-border MAs:- Japanese financial companies have recently acquired several United States financial companies affected by the financial crisis . †¢Financial companies established abroad by Icelandic firms were also bought up: Glitnir AB (a branch of Glitnir in Sweden), and DLG Ltd. and Kaupthing Singer Friedland Premium Finance Ltd. in the United Kingdom, both of which were owned by Kaupthing Bank, were acquired by HQ AB (Sweden), DM Plc (United Kingdom) and Close Brothers Group Plc (United Kingdom), respectively, in 2008 . Several mega MA deals (those with an acquisition value of over $1 billio n) have occurred in manufacturing industries (such as computer equipment, aircraft and pharmaceuticals) in the United States since September 2008 . Third, companies are still committed to increasing their level of internationalization in the medium term, a finding which constitutes a significant indicator for a future upturn in FDI flows . Large TNCs around the world still seem to be eager to pursue internationalization strategies (and thus increase FDI expenditures in the medium-to-long term). Fourth, new sources of FDI have emerged, especially from the South. Emerging economies and countries well-endowed with natural resources are becoming a growing source of FDI, either through the internationalization strategies carried out by their TNCs, or through the investment activities of their SWFs. FDI inflows The global economic crisis has translated into a sharp decline in FDI inflows both for developed and developing countries. FDI into developed countries in 2008 decreased by an e stimated 25 per cent compared to 2007, mainly as a result of the protracted and deepening problems affecting financial institutions and the liquidity crisis in financial markets. As cross-border mergers and acquisitions account for the bulk of FDI in most developed countries, these countries are particularly vulnerable to the credit crunch . Almost all developing countries and countries with economies in transition have been affected by the global financial and economic crisis, but to different degrees. The setback is associated with a rising wave of restructuring and divestment and the cancellation of a large number of Greenfield projects, as well as a decline in cross-border mergers and acquisitions. Compared to cross-border mergers and acquisitions, international Greenfield investments were less impacted in 2008. But they were increasingly being affected in 2009, as a large number of projects awere being cancelled or postponed. FDI outflows FDI outflows from the United Stat es went down as large repatriations of reinvested earnings and debt from foreign affiliates of the United States corporate sector took place and new investments abroad were halted . FDI outflows from Europe also declined. FDI outflows from the South slowed down, but to a lesser degree than those from the North. Therefore, the share of developing countries in global FDI outflows continues to rise, highlighting an increasingly significant presence of TNCs from the South. Many of them see their capability and propensity to invest abroad inevitably weakened due to the global financial crisis. However, in a few dynamically growing countries, the driving forces of capital outflows, such as a large amount of foreign currency reserves, enhanced firm competitiveness and supportive government policies are still at work . In addition, companies and sovereign wealth funds from these economies are, in general, less affected by the financial turmoil than are enterprises in developed countri es; they may continue to be active in overseas investment as part of their long-term strategies and become more important actors in the global FDI arena . For them, the global financial crisis and tough economic period ahead may create good opportunities to buy bargain assets, which can help promote cross-border mergers and acquisitions. However, they have also become more cautious in view of the considerable financial losses that some recent overseas investments have caused. POLICY RESPONSES – KEEPING INTERNATIONAL TRADE AND INVESTMENT FLOWING AND REVIEWING DEVELOPMENT STRATEGIES India has made changes in its FDI regulations several times. One in December 2008, wherein larger share of foreign ownership in many activities such as industrial parks, mining and petroleum, air transport was decided. And the other in February 2009 , which facilitated application of caps on foreign ownership in strategic sector (defence, aviation, telecommunications). It also swt out new para menters to calculate parameters for calculation of indirect foreign investment in an Indian company . It further clarified the circumstances in which an Indian company with foreign investment will be required to obtain government approval for making downstream investments in India. Another protectionist measures include state initiatives to come up with a funding package of $6. 8 billion or 300 billion rupees – this fund will be used for infrastructure, i. e. schools, roads, and hospitals . The offers announced by Union Finance Minister, Pranab Mukherjee, in Union Budget 2010-11, to enhance investment ambiance in India on February 26, 2010 entail: †¢Measures implemented to un-complicate the FDI system †¢System for computation of indirect foreign investment in Indian firms has been comprehensively classified. †¢Entire liberalization of costing and imbursement of technology transmit charges and trademark, and royalty expenses. Additionally, the Indian governme nt has permitted the Foreign Investment Promotion Board (FIPB), to sanction FDI tenders of up to US$ 358. 3 million. The global financial and economic crisis has stimulated consideration and implementation of mitigating policies and measures by countries and the international community. Some of these measures are valid in terms of safeguarding domestic industries and jobs . The challenge is to restore the credibility and stability of the international financial system, to provide stimulus to economic growth and to encourage investment and innovation. A number of policy initiatives at the national level could stimulate FDI. Three categories of policy measures can be distinguished. First, many developed countries have adopted large-scale bailout plans and rescue packages for the financial sector . Providing State guarantees to financial institutions could have a crowding-in effect on FDI, as these companies might be considered as â€Å"safe† investments by foreign investors. Moreover, some countries have even actively sought the participation of foreign investors in individual rescue deals . Second, several countries – such as the United States, France, Germany and Spain – have announced large public investment programmes, mainly aimed at infrastructure investments, which not only builds confidence in economy but also opens up investment opportunities by TNCs. Third, a number of countries have adopted fiscal or monetary stimulus measures which might also have a positive impact on FDI flows. PROTECTIONISM IS STILL A THREAT Over recent months, many national governments have resorted to various policy measures to safeguard domestic industries and employment affected by the global crisis. With regard to investment, there are few signs of deliberate government actions to impede the cross-border flow of investment in reaction to the crisis. However, there is a risk that the massive increase in state intervention and the greater role of go vernments as economic agents could have a downside in terms of indirectly impacting investment policies, especially in terms of active policies favoring investment domestically and discouraging investing abroad. One of the more interesting aspects of the current wave of investment protectionism is governments† response to sovereign investments. The number and size of worldwide SovereignWealth Funds (â€Å"SWFs†) have both seen substantial increase between 1990 and today. Numerous governments in developed countries have partially or fully nationalized domestic companies or are envisaging such a step . For instance, the French Government established a Strategic Investment Fund in December 2008 , which since then has acquired shares in several distressed companies. In February 2009, it augmented its capital participation in VALEO, a French producer of car parts . Reducing foreign investment, including divestment abroad, may be an economic necessity and may be unavoid able even in the absence of state intervention. Much depends on whether the trend towards more state ownership and control remains a temporary â€Å"fire fighting† measure during the crisis, or whether it results in more permanent structural changes with long-term implications. Nationalization policies and increasing state interference reduce investment opportunities for private investors – domestic and foreign – and may create an investment disincentive. While many private investors may currently not have much interest in acquiring enterprises that were or are to be bailed out, state ownership or control may become a more serious investment obstacle in the future if it is maintained after the actual crisis is over. A key global priority must be to resist and arrest tendencies towards protectionism and economic nationalism. In this regard, confidence in the multilateral trading system must be strengthened, with strong support by all countries to conclude the Doha Round on balanced and pro-development terms on an urgent basis. To avoid divestment, developing countries need to consider how to accommodate the cost-saving strategies of TNCs. For instance, a number of developing countries have included tax relief in their economic stimulus packages . CONCLUSION: The negative impact of the current financial crisis and the economic aftermath from it on FDI are likely to become stronger, and a further decline in global FDI flows is expected at least in the short-to-medium term. Countries with healthy macroeconomic fundamentals and robust financial systems are likely to recover sooner. Despite clear signals of economic slowdown, a number of large dynamically growing economies may remain attractive to market-seeking FDI, There are however a few positive forces still at work that can provide some relief to global investment flows. These include, for example, investment opportunities triggered by cheap asset prices and industry restructuring, large amounts of financial resources available in some dynamically growing countries such as sovereign wealth funds, and quick expansion of new activities such as fuel switching, renewable energy, material/resource/energy efficiency and some other environment-related industries. The crisis was less destructive to FDI than had been feared. While investment budgets, including those for FDI, were squeezed during the crisis, TNCs did not engage in wholesale divestment of their foreign affiliates. The crisis did, however, accentuate one recent trend, namely the shifting of TNCs? geographical focus to developing and transition economies. Also, the various economic stimulus programmes recently launched in many countries may have a positive impact on FDI inflows. The commitment of G20 leaders to take steps to facilitate trade and investment may also help to improve business confidence among companies. BIBLIOGRAPHY:- Articles †¢The Global Economic Downturn and Protectionism, Raym ond J. Ahearn, Congressional Research Service †¢Protectionism And Sovereign Investment Post Global Recession, Dr. Efraim Chalamish , OECD Global Forum on International Investment †¢UNCTAD Investment Brief, Global FDI in Decline due to the Financial Crisis, and a Further Drop Expected, November 1, 2009 †¢Does Foreign Direct Investment Promote Development? , Theodore H. Moran, Edward M. Graham, and Magnus Blomstrom, Institute for International Economics †¢Assessing the impact of the current financial and economic crisis on global FDI flows. Note prepared by the UNCTAD secretariat. April 2009 †¢Ã¢â‚¬Å"Congo miners suffer as boom turns to bitter bust†. Barney Jopson Financial Times. 10 March 2009. †¢ â€Å"Corporate profits: global recession intensifies downside risks†, Morgan Stanley, Global Economic Forum, 6 November 2008. †¢Mehrdad Baghai, Sven Smit, and S. Patrick Viguerie, â€Å"MA strategies in a down market†, The McKinsey Quarterly, September 2008 †¢Ã¢â‚¬Å"Importance of the substitution effect between investment abroad and home† study by E. L. Yeyati, U. Panizza and E. Stein (2007). â€Å"A global love affair: a special report on cars in emerging markets†, The Economist, 15 November 2008. †¢World Investment Prospects Survey, 2008–2011 (UNCTAD, 2008a) †¢Press notes of 2009 ,Government of India Ministry of Commerce Industry †¢World Investment Prospects Survey 2010-2012, UNCTAD Websites: †¢https://www. adbi. org †¢https://www. rediff. com †¢ https://www. iie. com †¢ https://www. twnside. org. sg †¢ https://www. yourstory. in †¢ https://www. mining-journal. com †¢https://www. iom. int †¢ https://www. ifatca. org †¢https://www. asianewsnet. net †¢ https://www. iningtopnews. com †¢https://www. msnbc. msn. com †¢https://www. bloomberg. com †¢https://www. worldcarfans. com †¢https://www. worldbank. org †¢https://www. bloomberg. com †¢https://www. globalcrisisnews. com †¢https://biz. thestar. com. my †¢https://www. reuters. com †¢https://www. cosmeticsdesign. com †¢https://www. nytimes. com †¢https://www. turkishweekly. net †¢https://in. reuters. com †¢https://www. india-server. com †¢https://www. unctad. org †¢https://www. euractiv. com †¢https://www. imf. org †¢https://www. forbes. com †¢https://www. swfinstitute. org †¢https://www. mayerbrown. com

Simple Disparaître Verb Conjugations in French

French verb conjugations can be challenging, particularly when it comes to words like  disparaà ®tre. Meaning to disappear, this is an irregular verb and that makes memorizing its many conjugates difficult. Yet, a quick lesson and some dedicated practice will help you out tremendously. Conjugating the French Verb  Disparaà ®tre In English, we use -ing and -ed endings for verb conjugations. Its more complex in French because the ending changes not only from the past to the present or future tense  but also with the number of people or things were talking about. Disparaà ®tre  is an  irregular verb  and while it is not the most common conjugation pattern, nearly all  French verbs ending in  -aà ®tre  are conjugated in the same way. While you are learning and practicing these conjugations, you may want to tackle two or three similar words to make the entire group just a little easier. Using the table, study each of the  disparaà ®tre  conjugations. Simply pair the subject pronoun with the appropriate tense and youre on the way to forming a complete sentence. For instance, I am disappearing is je disparaà ®s and we will disappear is nous disparaà ®trons. Subject Present Future Imperfect je disparais disparaà ®trai disparaissais tu disparais disparaà ®tras disparaissais il disparaà ®t disparaà ®tra disparaissait nous disparaissons disparaà ®trons disparaissions vous disparaissez disparaà ®trez disparaissiez ils disparaissent disparaà ®tront disparaissaient The Present Participle of  Disparaà ®tre The   present participle  of disparaà ®tre  is  disparaissant. Not only is this a verb, it can also become an adjective, gerund, or noun when needed. The Past Participle and Passà © Composà © The  passà © composà ©Ã‚  is another popular way to express the past tense disappeared in French. To form it, begin by conjugating the  auxiliary verb  avoir  to fit the subject pronoun, then add the  past participle  disparu. For example, I disappeared is jai disparu  Ã‚  while we disappeared is nous avons disparu. More Simple  Disparaà ®tre  Conjugations to Learn Should you find that the action of disappearing is questionable or not guaranteed, the subjunctive verb mood can be used. In a similar fashion, the conditional verb mood implies that the action will only happen  if  something else occurs. The passà © simple is primarily found in formal French writing, so you may not use it yourself. The same can be said of the imperfect subjunctive, though it is good to be able to recognize these as forms of  disparaà ®tre. Subject Subjunctive Conditional Passà © Simple Imperfect Subjunctive je disparaisse disparaà ®trais disparus disparusse tu disparaisses disparaà ®trais disparus disparusses il disparaisse disparaà ®trait disparut disparà »t nous disparaissions disparaà ®trions disparà »mes disparussions vous disparaissiez disparaà ®triez disparà »tes disparussiez ils disparaissent disparaà ®traient disparurent disparussent In the imperative verb form,  disparaà ®tre  is used for short commands and requests. There is no need to include the subject pronoun here: simplify tu disparais to disparais. Imperative (tu) disparais (nous) disparaissons (vous) disparaissez

Mental Illnesses Has Been Recorded Since The Beginning Of...

Introduction Mental illnesses has been recorded since the beginning of history. Mental illness is a condition that impairs a person’s thoughts, actions, mood and social skills. Daily activity becomes a difficult task to those with a disorder. Every person reacts differently to diagnosed mental conditions. (NAMI, 2015) Mental disorders include a wide range of problems made up of anxiety, mood disorders, depression, schizophrenia, psychotic disorders and etc. The focus of this paper will examine the disorder of schizophrenia; how it became, who is affects and to live with it. Schizophrenia is a severe brain disorder that affects one’s perception of reality. It may cause hallucinations, delusions, psychotic episodes, disorganized speech,†¦show more content†¦Schizophrenia may prevail at any age, usually during adolescence into young adulthood. In order to correctly diagnose a person with schizophrenia, the patient must have two of the symptoms mentioned above for more than one month. Dr. Emile Kraepelin gets credit for classifying mental disorders. He called schizophrenia early dementia: â€Å"dementia praecox.† He believed it to be a form of Alzheimers that prevails in adolescence. It had very similar symptoms to the elderly suffering from Dementia and Alzheimers. He even took it a step further and broke the disorder into three groups: disorganized, catatonic and paranoia. The term ‘Schizophrenia’ was coined in 1911 by Swiss psychiatrist, Eugen Bleuler. He disagreed with Kraepelin. He found that symptoms appear later in life as well and they differ from those of dementia. He then gave the illness a different name. Schizophrenia translates to split mind because he believed that people were battling with reality and their minds. As schizophrenia continues to be researched, scientists try to define it better. They always go back to Kraepelin and Bleuler. Over the last 100 years only two more subdivisions were added to the definition; totaling five in all: Disorganized, catatonic, paranoid, residual and undifferentiated. Background and Early Explanations Mental illness has been around since the beginning of recorded history. Mental illness was not recognized and those suffering were labeled as retarded. â€Å"Terms

The Differences Between Four Conceptions Of Gender

MS 2009 Essay (Question 9) In the developing environment, digital technologies advance people in different aspects. Game is one of the products under technology, while gaming is also sometime contextualized by shared cultural discussion (Carr, D. Burn, A., 2006), such as gender. As De Castell and Bryson argued, there are four conceptions of gender, which are positivism, constructivism, critical, and postmodernism. (De Castell, S. Bryson, M., 1998) To understand gender through technology, critical analysis standing out of these four concepts as it echoes with the structure and users’ views. In the following essay, it will first distinguish the difference between four conceptions of gender. Then, it followed by the illustration of the reality video gaming cultural in terms of the structure and characters, and the resistance from players and production, to see how critical analysis understand better in technology via gaming. 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The Trade Of Counterfeit Products Essay - 5404 Words

Abstract: India is a one of the key markets of counterfeit products in South Asia which has negatively affected its economy since many years. The trade of counterfeit and pirated products hamper the development of knowledge and innovation as it can greatly reduce the economic benefits for the original creator of products. Widespread and rampant piracy and weak intellectual property rights (IPR) dilutes the development of local industry and also endangers the huge investments made in research and development work of organizations. This can lead to loss of competitive advantage as the competitiveness of firms is driven by the firm’s ability to innovate and create new products churned from its knowledge capital. Counterfeiting and piracy can exist in the market from within or due to imports from a foreign market but flourishing or controlling of it can be understood majorly by understanding the attitude of Indian consumers towards purchase of counterfeit and pirated products. The studies s o far particularly considering IPR infringements have been skewed towards Pharmaceuticals, Entertainment and Information Technology. This paper attempts to investigate and understand the Indian consumers’ awareness of IPR infringements and their attitudes and intention towards purchase of Home Appliances based on psychographic and demographic factors. Keywords: IPR, Counterfeit, Piracy, Home Appliances, Consumer, Attitudes, India INTRODUCTION: Modern India is a globalShow MoreRelatedWhat Makes Fake And What Types Of Products, There Are Fakes Essay1533 Words   |  7 Pages what is fake and what types of products, there are fakes. 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Fellowship Of Ring Book Free Essays

In his novel, Tolkien uses the conflict between characters and nature to each society that the consequences Of disrupting nature are immediate and devastating. The meaning of nature in this context is not referring to the orientation of a certain thing, but instead it is referring to the natural world. In Toolkit’s novel, the natural world can be symbolized the realm of his fictional Middle Earth. We will write a custom essay sample on Fellowship Of Ring Book or any similar topic only for you Order Now The hobbies run into several conflicts with nature on their journey through Middle Earth. For example, as they are preparing to go into the Old Forest, Merry Brandenburg tells the other hobbies about the Bonfire glade saying, â€Å"The hobbies came and cut down hundreds of trees, and made a retreat bonfire in the Forest, and burned all the ground in a long strip east of the Hedge. † (Tolkien 1 57) In the story, the Old Forest is not viewed as a forest today would be viewed. The Forest that the hobbies travel through is actually alive and has a personality and feelings. Therefore, the bonfire made by the people of Backhand can be seen as a terrible act of genocide in the context of the story. This act of cruelty is the foundation for the Forest’s hate against Frond, Sam, Pippin, and Merry. Furthermore, the manifestation of the revenge of the Forest can be seen when Old Man Willow, a willow tree in the Forest, swallows Merry and Pippin. By putting a tree that can seek revenge and swallow people whole into his story, Tolkien highlights the importance of the immediate consequences of society’s abuse of nature. Later, Sam and Frond try to think of how to get Merry out, and Sam says, â€Å"If it don’t let them go, I’ll have it down if I have to gnaw at it. (Tolkien 1 66) The aggression shown by the tree is only followed by more aggression from Sam. Tolkien wants us to end this constant cycle of aggression. Merry warns Sam from inside the tree that, if they hurt Old Man Willow any more, the tree will split him in two. If Sam does not stop his aggression, there will be deadly consequences for Merry Brandenburg. Here, Tolkien reveals to us the devasta ting and deadly consequences of society’s aggression towards nature. Today, one of the biggest consequences of society’s abuse of nature is global warming. By not being environmentally aware of the consequences of our actions, we have caused a situation that could potentially be catastrophic. By using these conflicts of character versus nature, Tolkien teaches today’s society that it needs to recognize these immediate and deadly consequences and stop the hectically show of aggression it has towards nature. In addition to the conflict of person versus nature, Tolkien uses the conflict between a character and his fate to show that people should choose their own fate and make their own destiny. It is easy to see in the novel how some characters are enunciating of their fate, while others are not only accept their fate, but freely choose it. For example, when Frond first finds out from Gangland how important the ring is, he is much less than accepting of the task that is ahead of him. Frond whines, â€Å"Gangland, what am to do? For now am really afraid. What am to do? What a pity that Bilbo did not stab that vile creature [Googol], when he had a chance! † (Tolkien 92) Gangland scolds Frond for wishing death upon someone so unreasonably. Frond realizes he was at fault and eventually does accept his task of carrying the ring because he has to. However, it seems that if he had to choice, he would not want the responsibility of the ring. On the contrary, Sam is completely willing to accept his fate. After Sam sees the elves that he has been so curious about, Frond gives him the choice to continue following him On the journey or to go back to the shire. Sam replies, â€Å"l don’t know how to say it, but I seem to see ahead, in a kind of way. Now we are going to take a very long road, into darkness, but know can’t turn back. I don’t rightly know what I want: but I have something to do before the end, and it lies ahead, not in the shire. † (Tolkien 127) Sam does not know what his fate is. All he knows is that he needs to follow it. After Cam’s encounter with the elves and the decision to follow his fate, he grows in maturity and takes on more responsibility. Tolkien wants people today to be like Sam, and accept what they have to do and be active in choosing their own Sistine, even though it may not be in their interest. Most importantly, Tolkien uses the conflict between the character and himself to show that people should fight for something that is greater than themselves. In this story, Tolkien stresses that friends should fight for one another. The hobbies are not very brave creatures, but Frond and his fellowship would do anything for each other. For example, Frond thinks about leaving his friends behind and escaping the barrow-Wight but, â€Å"the courage that had awakened in him was now too strong: he could not leave his friends so easily. Tolkien 195) He stays and fights for his friends by drawing out his dagger and cutting off the hand of the crawling arm that was about to lop off the heads of his unconscious friends. This was a selfless act by Frond, and it took an enormous amount of courage on his part to not run away. Today people are very selfish and greedy. People obsess over themselves so much that they rarely consider others when making decisions, even if they are considered friends . Through the internal conflict of Frond, Tolkien is teaches people that they should act with the same kind Of selflessness that Frond did. How to cite Fellowship Of Ring Book, Papers

Personality Traits in Carlitos Way Essay Example For Students

Personality Traits in Carlitos Way Essay Walter Miller believes that this lower class group has for centuries possessed their own culture and traditions with a fundamentally different from those in the higher class. This suggests that this lower class culture has been passed on for many generations. He has broken his focal concerns down into six parts. Toughness, smartness, excitement, fate and trouble (Riveron). Toughness in the lower class culture represents a combination of things. The most important aspect is physical toughness showed by the possession of strength and endurance in athletics. 5% of males in the lower class come from female based households with little to no male presence. The males can be sensitive and not fight, but must fake it while in the streets. They can’t back down or show fear, the men show an exaggeration of masculinity(Goode 106). Smartness is the aspect of mental toughness. You must be able to outwit and con others, but also have the ability to be able to know when someone is trying to con you. This requires the male to have mental quickness over physicality. With smartness comes the area of â€Å"the dirty dozens† which means you should be able to take part in a mutual insult interchange with your peer group(Goode 107). Excitement can also be referred to asâ€Å"flirting with danger. † They find this in alcohol, gambling, playing cards, betting on horses and dice(Goode 108). It is an emotional reaction to a change in routine, essentially, taking things from your neighborhood and bringing them to another. Fate is where they believe that little can be done about their lives, they take it as being lucky or in luck, and unlucky or jinxed(Goode 108). The lower class males can feel larger events in life are governed by forces outside, beyond their control. To try and alter this â€Å"fate† they play games of chance, such as the lotto. They also part take in â€Å"luck changing rituals† in hopes of giving them luck, for example, picking up a penny on heads because it is said that it is lucky. Trouble has a range of meanings; trouble in one of its aspects represents a situation or a kind of behavior which results in unwelcome or complicating involvement with official authorities or agencies of middle class society(Goode 104). This means trouble is about provoking agents of larger society and to not get caught doing so, but if you are caught you are expected to â€Å"take it like a man. †It is important to note that the choice betweenâ€Å"law-abiding† and â€Å"non-law-abiding† behavior is still a choice within lower class culture(Goode 105-106). Finally autonomy, which is the extent and nature of control over the behavior of the individual. This focal concern carries over from mental toughness, the male is self-governed and fiercely independent. It is an â€Å"no one’s gonna push me around† attitude(Goode 109). Carlito’s Way is a movie directed by Brian De Palma which displays Miller’s focal concerns. Al Pacino plays Carlito Brigante, a convicted criminal who, thanks to the assistance of his lawyer Dave Kleinfeld, has had his 30-year prison sentence overturned on a technicality. But as Carlito gets back onto the streets of 1975 New York, he realizes that five years in jail is still an awfully long time for a once respected and feared gangster. Fashions have changed. Music has changed. There’s a new generation of criminal on the streets, which is as arrogant and aggressive as Carlito was back in his day. Carlito resolves to go straight, but fate conspires against him. His cousin is killed in a drug deal gone wrong, and his opportunistic way of getting a considerable amount k of cash allows him to get a local nightclub, but also puts him back on the radar of the local lowlifes. Meanwhile, Carlitos sense of loyalty leaves him feeling in debt to Kleinfeld, who’s become involved with a world of coke and corruption during Carlito’s time in. .u8fb8b534f36409a716092eafa0cf12ce , .u8fb8b534f36409a716092eafa0cf12ce .postImageUrl , .u8fb8b534f36409a716092eafa0cf12ce .centered-text-area { min-height: 80px; position: relative; } .u8fb8b534f36409a716092eafa0cf12ce , .u8fb8b534f36409a716092eafa0cf12ce:hover , .u8fb8b534f36409a716092eafa0cf12ce:visited , .u8fb8b534f36409a716092eafa0cf12ce:active { border:0!important; } .u8fb8b534f36409a716092eafa0cf12ce .clearfix:after { content: ""; display: table; clear: both; } .u8fb8b534f36409a716092eafa0cf12ce { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8fb8b534f36409a716092eafa0cf12ce:active , .u8fb8b534f36409a716092eafa0cf12ce:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8fb8b534f36409a716092eafa0cf12ce .centered-text-area { width: 100%; position: relative ; } .u8fb8b534f36409a716092eafa0cf12ce .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8fb8b534f36409a716092eafa0cf12ce .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8fb8b534f36409a716092eafa0cf12ce .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8fb8b534f36409a716092eafa0cf12ce:hover .ctaButton { background-color: #34495E!important; } .u8fb8b534f36409a716092eafa0cf12ce .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8fb8b534f36409a716092eafa0cf12ce .u8fb8b534f36409a716092eafa0cf12ce-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8fb8b534f36409a716092eafa0cf12ce:after { content: ""; display: block; clear: both; } READ: Actors Chinedu Ikedieze and Osita Iheme EssayAn attempt to bust an Italian mobster out of prison goes wrong, just as Carlito plans to retreat to the Caribbean with his lover Gail. The focal concern of toughness sticks out the most to me while watching the movie. Carlito wants to be straight but can not show that in the streets, he doesn’t want people thinking he has gone soft. He refuses to back down to fear and shows bravery during dangerous times, especially during the drug deal. He also shows the focal concern of toughness when it comes to the love of his life, Gail. He is sensitive towards her with his actions, and even in his tone of voice. But once Carlito is in the streets with his fellow gangsters, he shows the exaggerated masculinity. Carlito also shows â€Å"toughness† when he agrees to go with his cousin to make his drug deal. His cousin kept repeating how people wouldnt mess with him, and people would respect him if he walked in with â€Å"a legend. This showed the focal concern of toughness, because Carlito needed to live up to his reputation. As a part of subcultural theory, Miller saw the lower working class socialized into deviant subcultural values which he called â€Å"focal concerns. † Miller does not see the deviant behavior occurring due to the inability of the lower class groups to achieve success. He explains crime in the sense of the existence of a distinctive lower class subculture (Riveron). Bibliography: Goode, Erich. Lower Class Culture as a Generating Milieu of Gang Delinquency. Social Deviance. Upper Saddle River: Allyn and Bacon, 1996. 104-112. Print. Riveron, Claudia. Millers 6 Focal Concerns . John Jay College, . 26 Feb. 2015. Lecture.