Does The Problem Of Evil And Suffering Prove God D Essays

Does The Problem Of Evil And Suffering Prove God Does Not Exist? The problem of evil and suffering is the question as to why evil exists, in the context of the belief in God it asks why an omnibenevolent, omniscient, and omnipotent God would allow evil to exist. It is argued that it would not make sense for such a deity to allow evil to exist unless they did not really love everyone, did not really know everything that was going on, or did not really have the power to change anything they wanted. This argument logic ally counters the argument for the existence of God because i f Go d is all loving then he would not want people to suffer but there are uncountable cases of people suffering on a daily basis, so it is logically impossible for God to be omnibenevolent . Secondly, i f he is all powerful he could stop evil and suffering but either chooses not to or indeed cannot because he is not all powerful after all. I f he is omniscient, he would have known that the world he created would have evil and suffering but still went ahead and created it. So, either God is not all loving and is indeed a cruel God or he is not powerful enough to stop evil and suffering. This presents the question. Why did he create a world knowing it would have evil and suffering? On the other hand , there are holes in this argument because to make the argument it is assumed that there is the possibility that God is omniscient. If this is true, then it is also possible that the human comprehension of evil is false because it is so much further above human understanding that only God can fathom the true reason behind evil and suffering. Additionally , there is also the argument of free will and that the reason there is so much evil and suffering in the world is because humans are evil and not God. And the reason that God does not intervene is because he allows humans to have free will and when we die he will judge us and either punish or reward us based on the lives we lived whilst on earth, whether they were good or bad. In conclusion , the strongest argu ment is the argument for the problem of evil. This is because it uses the beliefs of those that argue for the existence of God against them exploiting the fact that it is impossible for God to exist because he would con tradict himself.

EPR Paradox in Physics - Definition and Explanation

EPR Paradox in Physics - Definition and Explanation The EPR paradox (or the Einstein-Podolsky-Rosen Paradox) is a thought experiment intended to demonstrate an inherent paradox in the early formulations of quantum theory. It is among the best-known examples of quantum entanglement. The paradox involves two particles that are entangled with each other according to quantum mechanics. Under the Copenhagen interpretation of quantum mechanics, each particle is individually in an uncertain state until it is measured, at which point the state of that particle becomes certain. At that exact same moment, the other particles state also becomes certain. The reason that this is classified as a paradox is that it seemingly involves communication between the two particles at speeds greater than the speed of light, which is a conflict with Albert Einsteins theory of relativity. The Paradoxs Origin The paradox was the focal point of a heated debate between Einstein and Niels Bohr. Einstein was never comfortable with the quantum mechanics being developed by Bohr and his colleagues (based, ironically, on work started by Einstein). Together with his colleagues Boris Podolsky and Nathan Rosen, Einstein developed the EPR paradox as a way of showing that the theory was inconsistent with other known laws of physics. At the time, there was no real way to carry out the experiment, so it was just a thought experiment or gedankenexperiment. Several years later, the physicist David Bohm modified the EPR paradox example so that things were a bit clearer. (The original way the paradox was presented was somewhat confusing, even to professional physicists.) In the more popular Bohm formulation, an unstable spin 0 particle decays into two different particles, Particle A and Particle B, heading in opposite directions. Because the initial particle had spin 0, the sum of the two new particle spins must equal zero. If Particle A has spin 1/2, then Particle B must have spin -1/2 (and vice versa). Again, according to the Copenhagen interpretation of quantum mechanics, until a measurement is made, neither particle has a definite state. They are both in a superposition of possible states, with an equal probability (in this case) of having a positive or negative spin. The Paradoxs Meaning There are two key points at work here which make this troubling: Quantum physics says that, until the moment of the measurement, the particles do not have a definite quantum spin but are in a superposition of possible states.As soon as we measure the spin of Particle A, we know for sure the value well get from measuring the spin of Particle B. If you measure Particle A, it seems like Particle As quantum spin gets set by the measurement, but somehow Particle B also instantly knows what spin it is supposed to take on. To Einstein, this was a clear violation of the theory of relativity. Hidden-Variables Theory No one ever really questioned the second point; the controversy lay entirely with the first point. Bohm and Einstein supported an alternative approach called the hidden-variables theory, which suggested that quantum mechanics was incomplete. In this viewpoint, there had to be some aspect of quantum mechanics that wasnt immediately obvious but which needed to be added into the theory to explain this sort of non-local effect. As an analogy, consider that you have two envelopes that each contain money. You have been told that one of them contains a $5 bill and the other contains a $10 bill. If you open one envelope and it contains a $5 bill, then you know for sure that the other envelope contains the $10 bill. The problem with this analogy is that quantum mechanics definitely doesnt appear to work this way. In the case of the money, each envelope contains a specific bill, even if I never get around to looking in them. Uncertainty in Quantum Mechanics The uncertainty in quantum mechanics doesnt just represent a lack of our knowledge but a fundamental lack of definite reality. Until the measurement is made, according to the Copenhagen interpretation, the particles are really in a superposition of all possible states (as in the case of the dead/alive cat in the Schroedingers Cat thought experiment). While most physicists would have preferred to have a universe with clearer rules, no one could figure out exactly what these hidden variables were or how they could be incorporated into the theory in a meaningful way. Bohr and others defended the standard Copenhagen interpretation of quantum mechanics, which continued to be supported by the experimental evidence. The explanation is that the wave function, which describes the superposition of possible quantum states, exists at all points simultaneously. The spin of Particle A and spin of Particle B are not independent quantities but are represented by the same term within the quantum physics equations. The instant that the measurement on Particle A is made, the entire wave function collapses into a single state. In this way, theres no distant communication taking place. Bells Theorem The major nail in the coffin of the hidden-variables theory came from the physicist John Stewart Bell, in what is known as Bells Theorem. He developed a series of inequalities (called Bell inequalities), which represent how measurements of the spin of Particle A and Particle B would distribute if they werent entangled. In experiment after experiment, the Bell inequalities are violated, meaning that quantum entanglement does seem to take place. Despite this evidence to the contrary, there are still some proponents of the hidden-variables theory, though this is mostly among amateur physicists rather than professionals. Edited by Anne Marie Helmenstine, Ph.D.

Human Rights and Same-Sex Marriage Research Paper

Human Rights and Same-Sex Marriage - Research Paper Example In following this line of reasoning though, one may say that since it is a violation of the constitution to deny anyone of their civil rights, it is therefore unconstitutional to deny people should they want to enter into same-sex marriages. However, for one to claim violation, one must prove first that same-sex marriage is part of the protected rights of the Constitution. This paper aims to correct the presumption that same-sex marriages should be legalized because every individual should be allowed to marry. The truth is, marriage is set as heterosexual by nature, thus, marriage policy limiting the union to only between one man and one woman does not violate the Equal Protection Clause or any other legal or moral principle (Stacey 27). Law protects such union to ensure the continuation of species. The law was not placed there to protect the emotional wants of individuals. Simply put, there is no right to same-sex marriages, thus, homosexuals are not being denied of their right. In fact, if one looks at the natural needs of a child to be raised by both biological parents, the natural need of a man to be ensured of paternity, and the natural need of a woman to be with her child (Stacey 27-8), not legalizing same-sex marriages protects these natural rights. It is Not Included in One’s Civil Rights Civil law is one of the greatest contentions about marriage. Literally speaking, laws governing marriages has always been a concern of the state and not the federal government. In any case, however, it has been long ignored that marriage is actually an institutional union between one man and one woman (McVeigh and Maria-Elena 891-2). Those who argue that same-sex marriages should be considered a civil right and should be treated just like any heterosexual monogamous marriage are doing so based on the principle of the Equal Protection Clause. This is, however, a flawed argument. It is absolutely wrong to consider that one’s constitutional rights ensure equ al treatment that includes the aspect of marriage. One must understand that equal treatment, as according to the Constitution, does not give reference to social relationships such as families, marriages, friendships, and the likes (McVeigh and Maria-Elena 899). A good example of this is a relationship between two friends who decide to consider their relationship as marriage. Such consideration of the friends involved in the friendship cannot go to the courts and demand equal protection rights just because they finally decided to consider their friendship as marriage. To do so is tantamount to saying that just because some people in a certain sports event pray together before the start of the event, courts are required to work under the equal protection law and allow these particular sports event goers to redefine the event as a religious ceremony. Social Reality Cannot be Declared by the Constitution Social reality cannot be defined merely by civil rights. The equal protection under the civil rights is there only to guarantee that every citizen will be treated equally. This means that the law should start by acknowledging and segregating characteristics and inconsistencies in reality so as to bestow upon each party what is rightfully theirs (Bily 27-8). For example, the government recognizes a relationship between two contracting parties who agree to fulfill a transaction of mowing the lawn. However, the law governing the contracts does not define beforehand what kinds of contracts can be done or can be accepted. This law, instead, merely makes clear how binding a consensual contract is, and what legal obligations both agreeing parties have in fulfilling the contract. This law also clarifies the consequences should one or both parties breach stipulations in the contract

William Butler Yeats Essay Example | Topics and Well Written Essays - 1250 words

William Butler Yeats - Essay Example Yeats can get away with absolutely cliched poetical language like "loveliness" and still create lines of matchless significance about a woman's beauty: "How many centuries spent/The sedentary soul/In toils of measurement/Beyond eagle or mole,/Beyond hearing or seeing, Or Archimedes' guess,/To raise into being/That loveliness" (Opening song from the play Fighting the Waves). Of language he was a past master. The themes and subjects of Yeats' poetry could be varied, because he was a man of varied interests and pursuits. Yeats could combine simplicity, a concise style, and innate wisdom for commentary on war from a soldier's point of view: "I know that I shall meet my fate/Somewhere among the clouds above;/ Those that I fight I do not hate, Those that I guard I do not love;"An Irish Airman Forsees His Death, The Wild Swans at Coole. 1919). He could make a commentary on the Easter Rising in Ireland like he did with his poem Easter(1916): "Too long a sacrifice/ Can make a stone of the heart./O when may it suffice/ That is Heaven's part, our part /To murmur name upon name,/As a mother names her child /When sleep at last has come /On limbs that had run wild". Or, he could write with a deep sense of almost Wordsworthian longing for the peace and beatitude of nature: "I will arise and go now, for always night and day/ I hear lake water lapping with low sounds by the shore;/ While I stand on the roadway, or on the pavements gray,/ I hear it in the deep heart's core".(The Lake Isle of Innisfree, The Rose, 1893). In his final years, Yeats was also known to give expression of his occultist beliefs in a 2000-year cycle of existence: "The darkness drops again but now I know/ That twenty centuries of stony sleep/ Were vexed to nightmare by a rocking cradle,/ And what rough beast, its hour come round at last,/ Slouches towards Bethlehem to be born"( The Second Coming, Michael Robartes and the Dancer.1919) This range and versatility is the outcome of a lifetime of evolution, because Yeats is one of those rare breed of creative minds who can produce their best work in their waning years. Yeats was born on 13 June 1865, and came from an Anglo-Irish heritage. It was his mother who introduced him to Irish folktales which were to be an important influence on his poetry. He had ideal parents for his profession as a poet : "Yeats has told of the deep emotional reserves in his Sligo-born mother, "whose actions were unreasoning and habitual like the seasons. From his father, John Butler Yeats, a man of original mind who had been trained in the law but turned to painting and to the pre-Raphaelite enthusiasms current in the '70s and '80s, Yeats early heard that "intensity was important above all things." (Bogan, 1938) Yeats was moved to London from Ireland when he was two, and remained there for all his schooling till he enrolled in the Metropolitan School of Art in Dublin for two years in 1884, and here he saw the early beginnings of his poetry. In Dublin he made famous acquaintances like G.B. Shaw, and W.E. Henley, and soon began to publish poetry, and in 1889, came out with The Wanderings of Usheen [Oisin] which included works

Structure of Secondary Schooling Essay Example | Topics and Well Written Essays - 1000 words

Structure of Secondary Schooling - Essay Example This essay approves that the basics start at school and slowly as they become mature they realize learning is a long process and helps them to be disciplined. The importance of learning is to share with others and make them educated. Studying at colleges and universities is totally a different ball game compared to schools. In colleges and universities the curriculum will be based on practical assumptions. Courses offering at universities and colleges are termed as professional courses and inclined towards engineering, management and political careers. The students will be trained accordingly to fulfill the immediate requirements. The most important thing is to realize the responsibilities towards the society and taking up those responsibilities, which is an indication of a good citizen. Education is an important tool that makes every citizen to know their responsibilities and utilize them properly. This report makes a conclusion that one of the main reasons of learning disabilities is the lack of concentration. Student’s thoughts divert very easily. They could not keep up their concentration level up to the mark. Short-term memory is also one of the reasons. Some of them were unable to remember previous days lessons or unable to grasp Assessing student’s abilities and disabilities is the major factor and teachers should strive to identify these issues. By identifying their strengths and weaknesses one can easily work on these issues. Self-confidence plays an important role in everyone’s lives. It is the deciding factor that decides a winner and a loser.

International capital budgeting

International capital budgeting Executive Summary In todays competitive environment, with companies are looking to expand their business not only nationally but also in foreign markets. For taking the decision on whether to invest in a foreign operation or not the company needs to assess various options it has. Capital Budgeting techniques are used in order to evaluate or compare different proposals. There is a difference in capital budgeting techniques for foreign operations as several factors such as exchange rates, inflation rates, blocked funds, government policies, etc. The returns arising out of foreign operations are different for the subsidiary company and parent company. Cash Flows should be computed for the investor i.e. the parent company and if the NPV of cash flows after subsequent adjustments comes out to be positive for parent company the investment decision might seem fruitful. Although a positive NPV for subsidiary would also add to the wealth of the corporation but generally parent companys in such instances are a little hesitant to invest. Favourable condition is the one in which both companies have a positive return. The cost of capital also needs to be estimated correctly by making suitable adjustments. Overall cost of capital should be lowered by having an optimal cost structure within several constraints. Several Decisions need to be made by the International Finance Manager on whether to expand, postpone or abandon the project in cases of sudden rise or fall in demand. Generally, companies do not wish to abandon the project as entering and leaving market is more costlier than bearing operational loss for sometime. Careful attention to the demand and other foreign and local government policies come into picture while taking this decision. Introduction Many firms around the world carry out business activities in more than one country such firms are known as Multinational Corporations (MNCs). With increase in globalization such activities have been on a rise. Many Indian firms also after the inception of Liberalization, Globalization and Privatization policy have started to raise finances in foreign markets, export goods and services, import goods and services and even invest abroad. However, the fundamentals of financial management do not differ whether the firm is domestic or an International firm i.e. a firm which has significant foreign operations. Although there are a few factors that need to be considered in International firms such as currency denominations, tax and other Government implications, varying accounting standards, barriers to trade and financial flows and political risk. One of the key factors for firms having their operations in foreign countries is the exchange rate. Exchange rate unlike few years back (1971) where devaluations and revaluations occurred only very rarely has given way to the system of floating exchange rates. In a system of completely floating exchange rates, the relative prices of the currencies are determined entirely by the demand-supply gap. Authorities in such a system do not attempt to influence the rate movements. But such an ideal system does not exist. Governments in all countries attempt to influence the movements of exchange prices either through direct intervention or through a mix of monetary and fiscal policies as they regard exchange rate as a very important macro-economic variable. Such a system is called dirty float. Exchange rate directly influences the estimation of budget of a foreign investment. So in order to accurately forecast the budget or profitability of a project it is essential to forecast the exchange rates for future. Exchange Rates An exchange represents the price of one currency expressed in terms of another. There are two ways of quoting an exchange rate. Direct Quote: A type of quote in which exchange rate for a foreign currency is quoted in terms of number of units of local currency that are equal to a single unit of foreign currency. For example when it is said that exchange rate for dollar is Rs 46, it illustrates a direct quote for Dollar. Indirect Quote: A type of quote in which exchange rate for a foreign currency is quoted in terms of number of units of foreign currency that are equal to a unit of local currency. For example when it is said that $0.0233 is equal to Re. 1, it illustrates an indirect quote for Dollar. Since 1993, the interbank foreign exchange market in India has been using system of direct quote, prior to that it used a system of indirect quote. International Standards Organization has developed three letter codes for all currencies that are used by the SWIFT network that affects the inter-bank fund transfers. Codes for a few currencies are: Spot Rate Quotations Spot Rate refers to the rate of a foreign exchange contract for immediate delivery. Although it is said to be immediate its settlement is done in two business days after the date of transaction. A quotation consists of two prices. The first price is the bid price i.e. the price at which the dealer is willing to buy. The second price is the ask price i.e. the price at which the dealer is willing to sell. The difference between the two prices is known as the bid ask spread. It reflects the breadth, depth and volatility of the currency market. The spread is generally expressed in percentage terms. For e.g. if USD/INR Spot :46.2500/46.2600, it means that the dealer would buy one US dollar for Rs 46.2500 and sell one US dollar for Rs 46.6000. In this the bid ask spread is: Cross Rate Quotations If the exchange rate between currencies A and B and currencies B and C is known then the exchange rate between currencies A and C can be determined by the following: S(A/C) = S(A/B) x S(B/C) Forward Rate Quotations A rate which is fixed today but the settlement for the transactions occurs at some specified date in the future. Banks normally quote forward rates for maturities in the whole calendar months. For commercial customers it is mentioned in the same way as quotation for spot rate. For e.g.: USD/INR 3 Month Forward : 46.4220/46.5210 The above statement signifies that after three months bank would buy one dollar for 46.4220 and sell one dollar for 46.5210. However, in the interbank market the forward quotes are given as a pair of swap points which are then added or subtracted from forward quotation. The swap quote only expresses the difference between the spot quote and forward quote. Decimals are not written in swap quotes and are represented as follows: Conversion of Swap Rate into Outright Rate Swap rate can be converted into outright rate by adding premium or subtracting the discount from spot rate. If the forward bid rate in points is more than offer rate then the forward rate is at a premium and hence the points are added to the spot rate in order to get outright rate. If the forward bid rate is more than the offer rate in points then the swap points are subtracted from the spot rate. The swap quotation is generally expressed such that the last digit coincides with the same place as the last digit of spot price. So, in USD/INR quote given above, the rate 20/10 would mean INR 0.0020/INR 0.0010. On application of the above rule to the example, the outright forward quotation would be: USD/INR 1 month forward: 46.5005/46.5020. Forward Premiums and Discounts If the US dollar is costlier in the forward market than in the current market then it is said that it is at a forward premium in relation to Rupee. Similarly if it is cheaper in the forward market it is said to be at a discount in relation to Rupee. With two way quotations there is no single unique way of quantifying the premium or discounts. One way commonly used is expressing premium or discount as an annualized percentage deviation from spot rate. Forward premium(discount) = (n-day forward rate spot rate)/spot rate x 360/n n length of forward contract in number of days Futures and Options in Foreign Currencies An alternative to the forward market is the futures market. The currency futures contracts are standardised currency forward contracts in terms of size of the contract and delivery dates. The difference between forward contracts and futures is that forwards are customized whereas futures are standardized contracts. International Parity Relationships In order to have consistent international financial policy a relationship between interest rates, inflation rates and exchange rates needs to be understood. Following theories suffice this purpose: Covered Interest Arbitrage and Interest Rate Parity It is an investment strategy whereby an investor buys a financial instrument denominated in a foreign currency and hedges his foreign exchange risk by selling a forward contract in the amount of the proceeds of the investment back into base currency. Combined effect of such transactions and market pressures result in an equilibrium relationship which is known as interest rate parity (IRP) which preludes covered interest arbitrage transactions. When IRP exists, the difference between forward rate and the spot rate is enough to offset the difference between interest rates in two currencies. IRP condition states that the home interest rate must be higher or lower than the foreign interest rate by an amount equal to forward discount or premium on home currency. IRP can be stated as follows: Purchasing Power Parity According to the concept of purchasing power parity barring the effects of barriers associated with the movement of goods or services across countries, price of each product shall be same in each country, after making the appropriate currency conversions. It is also known as law of one price in economics. For goods which cannot be easily stored or transported law of one price doesnt hold, but for goods like crude oil and gold which can be easily stored and transported there arent major deviations from law of one price. A less restrictive form of Purchasing Power Parity is called the relative purchasing power parity which states that the difference in inflation rate between two countries is offset by the change in exchange rate. Relative Purchasing Power Parity can be expressed as follows: International Capital Budgeting Once a company has reached a decision to invest abroad the next thing to do is to evaluate various projects/proposals. The evaluation of the long term investment project is known as capital budgeting. The method of capital budgeting is quite similar for both a domestic company and an international company. The difference is that in order to evaluate for an international company different aspects need to be taken into account such as computation of cash flow relating to project in viewpoint of both parent and subsidiary, cost of capital, etc. Evaluation Criteria An investment proposal can be evaluated using two types of method non-discounting and discounting methods. The non-discounting methods are simple to compute but are not as accurate as discounting methods as they do not take into consideration the time value of money. The focus would mainly be on the discounting methods. Non-Discounting Methods Average Accounting Rate of Return: It takes into account profit before interest and tax with respect to investment. The profit is then compared to the required rate of return. A project is acceptable if the mean profit is higher than the required rate of return. The negative aspects of this method are that it is based on accounting income and not on the cash flow; it considers profit before tax and it also ignores the time value of money. Pay Back Period: It is the number of years required in order to recover the initial investment. This method mainly focuses on early recovery of funds but does not consider the cash flow after the pay back period i.e. it does not take into account the life of the project. The advantage of such non-discounting methods are that they are easy to compute and can be used in the initial stages of project in order to compare which project would be able to recover the investment quicker. Discounting Methods Net Present Value: In this approach projects are accepted where the present value of net cash inflow during the life span of project is greater than initial investment. It is computed using. Choice between different methods During comparing two proposals sometimes the result of two methods may differ as they rest on different assumptions concerning the reinvestment of funds released from the project. The NPV rule implies reinvestment at a rate equivalent to the required rate of return which is used as the discount rate whereas IRR assumes the funds to be reinvested at IRR. However, in such a case NPV is given preference as there are a few limitations of IRR method. Firstly, where projects of different life span are considered IRR inflates desirability of a short-life project as IRR is a function of both the time involved and size of capital investment. Secondly, IRR remains to be lower on projects with a longer gestation period, even when NPV remains larger because IRR is high in those projects where several benefits accrue in early part of their economic life. Thirdly, there is a possibility of two IRR rates coming for a given NPV as they are computed using a polynomial equation. Between PI and NPV, NPV is given preference as it represents an absolute value. Computation of the Cash Flow The decision to start a new project involves outlay of cash flow in form of investment but in return brings in funds and adds to the firms stock of wealth in future. Cash Flow can be grouped under three heads: Initial Investment during the period, to Operating cash flow during the period, t1 to tn Terminal cash flow or salvage value emerging at the end og the period, tn. The following factors should be kept in mind: Cash Flow is considered on after tax basis Financing cost is not included despite the fact that capital has a cost because such costs are considered elsewhere while determining projects required rate of return Cash flow is computed on an incremental basis and represents the difference between cash flow after the investment and cash flow in absence of investment Certain costs do not involve cash flow but involve opportunity cost, such costs are included in the decision process Parent Units Perspective and the Cash Flow In multinational capital budgeting the question arises whether to compute the cash flow from viewpoint of the parent company or viewpoint of subsidiary company because cash outflow of one could be cash inflow for the other. For e.g. if the subsidiary company gives the parent company a royalty fees then it becomes an inflow for the parent company but it is an outflow for the subsidiary company. It is difficult to take a decision on whether to accept or reject a proposal in such instances. In fact there may be many situations when the disparity in the cash flow between the parent and its subsidiary occurs. For example if the tax rates in home country and foreign country are different disparity in cash flow would arise. It is possible that on account of lower tax rates in foreign country the after tax cash inflow is large enough to justify the investment proposal. On the other hand high tax rates in the home country might render the investment proposal infeasible from viewpoint of the p arent company. The parent company might reject the proposal due to low cash inflow due to exchange control applied by the foreign government, despite the cash flow being sufficient for implementation. In a situation where parent company charges the subsidiary exorbitantly for the use of technology and management, the cash inflow accruing to the parent company will be larger justifying the investment decision. Lastly, changes in exchange rate may change the cash flow of parent company. When the currency of the foreign country appreciates parent company gets a larger flow of cash in terms of its own currency. This might alter the accept-reject decision. In corporate financial management the value of the project is determined by net present value of the future cash flows available to the investor. Since, parent company is the one which invests in the project , it is the cash flow of the parent company that is taken into account in the context of international capital budgeting. Initial Investment If the entire project cost is met by the parent company the entire amount of initial investment is treated as the cash outflow. There are instances when the project is partly financed by the subsidiary itself through local borrowings but such borrowings do not form a part of the initial cash outflow. In some cases the subsidiary company makes additional investment for expansion out of the retained earnings, in such a case there is no cash outflow from the parent company but such costs should be treated as opportunity costs because in absence of retention of earnings, these funds could have been transferred to parent company rather than invested in the project in question. Thus, the investment out of retained earnings should be treated as cash outflow from parent companys perspective. Sometimes foreign government imposes exchange control and does not allow the cash to flow to the parent company. Such funds are called as blocked funds. For this reason the part of the cash that is blocked is not treated as cash inflow from the parents perspective. However, if the blocked funds are reinvested in some new project then that amount is considered as investment by the parent company. Operating cash flow Besides the initial investment, some adjustments need to be made to the operating cash flow as well. The revenue generated through the sale of a subsidiarys product in the local market as well as in other countries is shown as cash inflow to the parent company but it is subject to downward adjustment by the lost income on sales previously realized through parent companys export to these markets. On the other hand if operation in the subsidiary leads to import of components and raw material from parent company value of such import will be added to the revenue. The transfer pricing, when the parent company or any other unit of the firm charges price for intra-firm transfer of intermediate goods, also influences the operating cash flow. The transfer pricing is adopted either for better working capital management or wavering of taxes through shifting of before-tax profit to a country with lower tax rates. When transfer pricing lowers the overall tax burden on the parent company it is treated as cash inflow. However, such inflows are discounted at a higher rate because they involve great risk. If there are incentives from the foreign government, they are included in capital budgeting. For example, if foreign government offers loan at a subsidized rate then the gains from such an incentive is treated as operating cash inflow. When the subsidiary takes loans locally, the amount of interest payment is deducted from operating cash inflow. In case of domestic capital budgeting it is not the case as financing cost is included in the discount rate, but in case of international capital budgeting, the cash remitted to parent company would seem to be overstated if interest payments are not treated as cash outflow. Inflation influences both the cost and the revenue streams of the project and hence inflation rate differential also needs to be taken into account. If the inflation rate is higher in foreign country and if the import from the parent company constitutes a significant portion of the input of subsidiary, the cost will not move up very high but if the inputs are bought locally the cost increase may be substantial. Similarly, revenue would move up if there is no competition from foreign suppliers and the demand for the product is price inelastic. Although if inflation rates are very fluctuating it becomes very difficult to make an accurate forecast as the inflation differential would keep on changing. The exchange rate fluctuation influences the size of the cash flow. Changes in exchange rate are not only due to the changes in inflation rates but several other factors. It is difficult to predict the behaviour of those factors. Nevertheless, the cash flow computation process incorporates different scenarios of exchange rate movements. If there is an appreciation in the value of foreign currency, it is good for the parent company as it will increase the size of cash inflow in terms of home currency. This gain may be offset by the high inflation rate but if in the future the rate of inflation is expected to lower thus helping appreciate the value of foreign countrys currency, the subsidiary should invest locally the payments to the parent company till the strengthening of currency. Terminal Cash Flow When salvage value of a project is uncertain the parent company makes several estimates of salvage value or terminal cash flow and computes the NPV based on each possible outcome of terminal cash flow. Alternatively, it computes the break even salvage i.e. terminal cash flow necessary in order to achieve zero NPV for the project. Break even salvage value is then compared to estimated cash flow. If the estimated terminal cash flow is less than break even salvage value, the investment proposal would be rejected as the NPV would be negative. On the other hand if the subsidiary would sell for more than break-even salvage value then this would be incorporated into assessment of whether to accept the project or reject it. To further explain the terminal cash flow, we would break up the cash flow beginning from the first year to the nth year into operating cash flow (OCFt) and terminal cash flow (TCFn). So from the above equation we can conclude that in order to compute break even terminal cash flow we have to first estimate the present value of operating cash flows or the future cash flows without salvage value. When computed it is deducted from initial investment and difference is multiplied by (1+k)n. Parent-Subsidiary Perspective: An Alternative Approach In the earlier approach we analyzed that NPV of the investor is taken into account rather than project while deciding on whether to invest in a certain project or not. But if projects NPV is positive, it is bound to add to corporate wealth of firm as a whole. Under this approach two NPVs are computed, one from parent companys point of view and other is the NPV of the project. Finally the acceptance or rejection decision is based on NPV of both of them. In order to calculate the NPVP or Net Present Value from Parent companys perspective following steps are taken: Estimate the cash flow in foreign currency Estimate the future spot exchange rate on the basis of available forward rates Convert the foreign currency cash flow into home currency Find home currency using home currency discount rate Similarly to find out NPVS or Net present value from subsidiarys perspective following steps are taken: Estimate cash flow in foreign currency Identify the foreign currency discount rate Discount the foreign currency cash flow at foreign currency discount rate Convert the resultant NPV into the home country currency at spot exchange rate. In the above case the cash inflow represents the earnings of the project in foreign currency irrespective of the fact whether cash moves towards or away from the parent unit. The two methods above assume all-equity capital structure and so, if the parity conditions existed in the real world the two approaches would give the same value. But generally debt is normally included in capital structure in order to lower the cost of capital and furthermore parity conditions do not exist. The possible results could be: NPVP and NPVS: both negative and in such a case project is rejected NPVP and NPVS: both positive; in such a case project is accepted NPVP>0>NPVS: The project is attractive from parent companys point of view but not from subsidiary companys point of view. In such a case project could be accepted but there are chances of loss in value in terms of foreign currency. NPVP

The Growing Threat to Civil Liberties Essay -- Rights Freedom Essays

The Growing Threat To Civil Liberties The United States has long been respected for the principled thoroughness with which it has upheld the right to freedom of speech embodied in the first amendment to the constitution. We owe part of our own freedom of speech to the Americans who have upheld freedom of speech on the Internet against pressure from other countries who are angry that their citizens can call up forms of speech banned at home. The US consistently refuses to sign international agreements that would infringe the purity of its own constitutional guarantees of freedom of speech. It is thus distressing to read in David Bernstein’s excellent book how anti-discrimination laws are being used to undermine civil liberties, such as the freedom of speech, in the very home of liberty itself. The US courts have in the past upheld freedom of speech, even where it might seem to encourage crime or subversion, but they have allowed anti-discrimination laws to over-rule freedom of speech. Once again the drive for equality is revealed as the greatest enemy of individual freedom. One of the most striking examples of this is the substantial numbers of individuals who have been sacked (and also in consequence lost their medical care) because their employer’s lawyers were afraid that remarks that these individuals had made might lead to some other indignant and affronted employee suing the employer for allowing them to be subjected to a ‘hostile work environment’. A member of a legally privileged ‘minority’ might well then be awarded vast damages for some trivial remark. In consequence employers now even snoop on conversations and e-mails between two friendly consenting employees lest they contain a comment which might be unco... ...ights, but she was only awarded one dollar plus her costs. It sums up the priorities of PC AmSoc America. A trivial anti- discrimination claim is worth a million times as much as freedom of speech and expression. David Bernstein is to be congratulated on so clearly, vividly, analytically and accurately showing seriousness of these new threats to free speech and civil liberties in the US. The Cato Institute also deserves credit for publishing the book since in Bernstein’s words ‘authors who take politically incorrect positions . . . face a particularly difficult time finding publishers among leading trade presses’ (p. ix). Cato at least is still the land of the free and the home of the brave. You Can't Say That: The Growing Threat To Civil Liberties From Antidiscrimination Laws Washington, DC: Cato Institute, 180pp., ISBN: 1 930 865 538, $20.00 (hb), 2003

Critical Thinking Essay: the Godfather Essay

The Godfather, a story about a multigenerational crime family by the Italian American author Mario Puzo, was one of the best-selling books since it was published in 1969. Not only the book was a phenomenon, its movie under the direction of director Francis Ford Coppola had also become a landmark in American movie since it was released in 1972. The Godfather detailed impressively the activities of the gangster world, especially the Corleone family which was under the control of the patriarch Vito Corleone starring by Marlon Brando and Al Pacino as his youngest son Michael Corleone who soon inherited his father’s position. The film lived up to the term masterpiece which helped it win three Academy Awards for best actor, best picture, and best adapted screenplay. Although the movie was full of brutal violence and mass killing of people, it also showed the care, the love, and the loyalty of the Corleone family members for each other. Rather than just showing the criminal side of breaking the laws or murdering people, The Godfather showed a brand new vision of the gangster world to the audiences. The criminal genre first started with the film the Little Caesar which was the first movie ever made about the gangster world in 1931. Later, many famous directors had taken advantage of this new trend and released many great movies with this genre, such as director Howard Hawkes with his famous film Scarface in 1932 and director Raoul Walsh with the movie White Heat in 1949. Those were all the big films that gave the audiences the impression of how audacious and dangerous the Mafia was. Mostly those movies focused on a younger gangster who was trying to work his way up in his criminal career to become well-known and powerful in the underworld by all means. Then, the release of the Godfather impressively surprised all the fans of the mob movies with a totally different viewing experience. The film depicted a systematic criminal organization, a â€Å"family business† that was transferred from generation to generation. The audiences are attracted in the very first plot of the movie when it shows Vito Corleone is doing his â€Å"business†. The man is insisting him to take revenge for his daughter who was brutally beaten by her boyfriend and he will pay any price the Godfather wants. The audiences will think that surely the Don will say â€Å"yes† because that is how a mobster is in their mind: Give them money, they will do anything. However, Vito says â€Å"No† because the only thing he wants from the man is friendship and he feels disrespectful when the man is only talking about money. Another plot that shows the breakthrough of the Godfather is when his oldest son, Santino, was butchered by Emilio Barzini’s men, the second most powerful Don, Vito still takes the initiative of renouncing all the vengeance at which audiences think there will be a massacre between the two families. Vito also makes a concession in doing drug business though he mentioned that he never believed drugs. In return, he wants a guarantee from other families for the safety of his own family and the younger son, Michael, who is still in Sicily hiding away from the police. Furthermore, thanks to director Coppola for being determined in choosing the appropriate actors and actresses for every characters in the movie which was a great contribution to the movie that made it become a masterpiece. Marlon Brando was not the first choice for the character Vito Corleone, he was actually refused for casting by the Paramount executives. However, Coppola believed Marlon was the best match for the character so he fought hard for him until the executives agreed. Marlon proved to the executives that Coppola was right by showing his consensus in being a patriarch of a powerful criminal family. The way the Godfather talks to his clients makes him a respectable man to his friends and family but a dangerous and cold-hearted killer to those who wants to go against him. Besides, the great performance of Marlon Brando puts an outstanding development of Al Pacino’s character. Like Marlon, Al Pacino was not highly valued by the executives because of his looks and lack of experiences in acting. However, with his efforts, the viewers can see the improvement in performing Michael Corleone through all the scenes. The scene he played that helped him keep his role is when Michael was in the restaurant with McCluskey and Sollozo. This plot was really breathtaking and terrifying that makes viewers attentively watch it to the end. Michael’s shiver and worry before the shot successfully portrays an inexperienced mobster, a newbie in the underworld of Michael. Indeed, in the second half of the movie, when Michael took over his father’s chair and started the wipe-out of all of the family’s rivals, he showed an image of a young Don who was more wise and dangerous than his father. As a gangster movie, the Godfather has many plots that can make viewers jump out of their chairs or hide their faces behind their hands. As an experienced director, Coppola knew how to combine background music with the plots to emphasize their contents. For example, when Jack Woltz refused the offer from the Godfather of letting Johnny Fontane cast a role in his movie, the next morning he woke up and saw his beloved horse head in his bed. The evil music was playing very small when the scene was showing Woltz’s garden, viewers could even hear the sound of the crickets. Then the camera slowly moved to Woltz’s bedroom where the music was playing louder and louder as it reached near Woltz’s bed. Finally, the music turned to maximum when Woltz was screaming because he saw the horse head. This scene really freaked people out because Coppola used a real horse head. Lastly, the movie is remarkable because it shows deeply the human part of mobsters. A typical example of how the Corleone members care for each other is Santino’s care about his sister, Conny. At the first scene of the movie, there was the wedding of Conny and Carlo. Unfortunately, Carlo did not love her. He purposely married to Conny because he wanted to get involved in Corleone family which was the most powerful Mafia family in New York. However, Vito Corleone did not let any outsiders to be part of the his business. Carlo was disappointed and he started abusing Conny fiercely, his just married wife. In the film, audiences can see Santino was the only member in the family protected Conny. Santino was also a very hot-tempered person. In some plots, because he was so aggressive, he brought a very bad impression on viewers. Nevertheless, watching him beating Carlo on the street, viewers would have a more positive feeling toward him. Another plot that makes the audiences more sympathy with the movie is when Vito retired, he became an old man with very simple joys of doing gardening and playing with his grandson. Later in the movie, he died by a heart attack, a very normal way that could happen to other elders. That scene really surprises viewers because they may think as one of the most powerful Don in the Mafia world, Vito Corleone should have had a more honorable death. Overall, although the Godfather was released in 1972 at which the performance of the actors and actresses were not as good as the casts now, it still has the full attention of audiences every time they watch. It is rated R which means it has many extremely violent scenes and nudity plots. Some people may think its violence is quite tame. However, if parents don’t take seriously consideration before letting their kids see the movie, their kids might still have a nightmare at night. Work Cited Seal, Mark. â€Å"The Godfather Wars.† Vanity Fair. N.p., Mar. 2009. Web. 18 Nov. 2012. . Rovi, Bruce Eder. â€Å"Little-Caesar – Trailer – Cast – Showtimes – NYTimes.com.† Little-Caesar – Trailer – Cast – Showtimes – NYTimes.com. The New York Times, n.d. . â€Å"TheGodfather Trivia: Leavethe Gun, Read the Trivia!(Total Trivia Entries: 147).† The Godfather Trivia. N.p., n.d. .

The Importance of Choosing the Right Way of Communicating Your Ideas

The Importance of Choosing the Right Way of Communicating Your Ideas Communication plays an important role in people’s lives. For instance, Japanese people who suffered from the quake were terrified because they felt isolated without any communication (Fackler 2011, p.A11). Reportedly, people who were deprived of electronic means of communication relied on such means as announcements from loudspeakers, or sirens.Advertising We will write a custom essay sample on The Importance of Choosing the Right Way of Communicating Your Ideas specifically for you for only $16.05 $11/page Learn More Admittedly, verbal and non-verbal communication is essential for every individual. It goes without saying that every situation requires specific ways of communication, otherwise the major aim of communication will not be achieved. Thus, even informal private communication should be effective, and this can be achieved if the major principles of effective communication are taken into account. In the first place, it is necessary to point ou t the major communication objective. Basically, communication objectives â€Å"include the effective exchange of ideas and opinions† (Tonn 2010). People are sharing ideas in the workplace and in their personal life. For instance, the conversation between David Carr and A.O. Scott who commented upon Oscars ceremony can be regarded as a private conversation (Oscars: Youthful Audience n.d.). The interlocutors feel free. It is important to note that both of them pertain to one culture (they are Americans) which simplifies their communication since no cultural barriers exist between them. In fact, culture plays a very important role in communication since culture shapes individuals’ values and beliefs which influence greatly people’s behavior, which in its turn is essential when communicating. Witsel (2009, p. 170) also stresses that cultural differences influence the effectiveness of communication greatly and it is essential to take into account these cultural pecul iarities when sending and receiving messages. The present conversation is free from issues concerning cultural differences. The communication between Carr and Scott is effective since the interlocutors manage to share their ideas. They send their messages waiting for the feedback, and they get the feedback since the interlocutor is an active listener. Both, Carr and Scott, support or refute arguments of each other, which is a very effective technique when communicating (Ulrich 2009, p.583). It is necessary to point out that sometimes the interlocutors interrupt each other, so certain barriers or, so-called noise appear. They do not listen to the speaker attentively because they start talking and articulating their ideas (Oscars: Youthful Audience n.d.). The noise can lead to miscomprehension and it can also lead to less effective communication (Witsel 2009, p.135). However, there are only two cases of interruption, so it does not prevent interlocutors from communicating their ideas. Advertising Looking for essay on communication strategies? Let's see if we can help you! Get your first paper with 15% OFF Learn More The present dialogue is a valuable example of the significance of non-verbal communication. For instance, the interlocutors use illustrators, â€Å"gestures that go along with† speech (Witsel 2009, p.170). Carr and Scott laugh and nod, they make direct eye contact and these non-verbal means of communication (which are â€Å"very positive messages in US culture†) create a friendly atmosphere which is favorable for communication (Witsel 2009, p.163). Thus, it is possible to state that the dialogue can be characterized by effective communication since the interlocutors share their ideas on certain topic in a friendly atmosphere. In my opinion, the dialogue is effective because the interlocutors had an idea about certain peculiarities of effective communication. It does not necessarily mean that they were studying tho se effective means of communication, but the majority of verbal and non-verbal means they used are determined by culture. Thus, as far as non-verbal communication is concerned, smiles, nods and laugh are signs of active listening in American culture. Both speakers make use of these non-verbal means. As for verbal communication the interlocutors conveyed their ideas in explicit way so that their receiver could easily understand the message and provide his feedback. It is necessary to point out that the work of Witsel (2009) was a very valuable source of knowledge which enabled me to learn about communication theories and, what is more important about their application in the real life. For example, found out about the importance of paying attention to such four factors as feedback, channel, type of communication, language source (Witsel 2009, p.135). The right choice of each element is beneficial for reaching the major aim of communication. Thus, it is essential not to confuse formal or informal communication since every type has certain rules to follow. Nevertheless, I believe that information about non-verbal communication, revealed in Witsel’s work (2009) was of primary importance for me. I acknowledged that this type of communication plays a very important (and sometimes crucial) role when sharing ideas. Many non-verbal signs can lead to misunderstanding and failing communication.Advertising We will write a custom essay sample on The Importance of Choosing the Right Way of Communicating Your Ideas specifically for you for only $16.05 $11/page Learn More Thus, I now understand that before communication your ideas to some person or people it is essential to find out more about their cultural background. This is extremely important in the modern globalized world. In conclusion, it is necessary to point out that communication theories help understand the major principles of communication and what is more important to reach commu nication aims. For instance, analyzing an example of informal conversation between two Americans, it is possible to identify the main principles of effective communication. The example is quite valuable in terms of communication analysis since the dialogue reveals effective means of communicating ideas, used by the interlocutors and their drawbacks. Basically, I learnt much about verbal and non-verbal means of communication. Now I should admit that non-verbal communication have become essential in the modern globalized world since people from different countries should share ideas effectively and cultural differences can negatively influence communication. Reference List Fackler, M 2011, â€Å"Quake Area Residents Turn to Old Means of Communication to Keep Informed†, The New York Times, 28 Mar. 2011, p. A11. Oscars: Youthful Audience. The New York Times Video, video, The New York Times, https://www.nytimes.com/video/movies/100000000670802/oscars-youth.html?searchResultPositio n=1. Tonn, VL 2010, Meanings, Images of Interpersonal Communication, and The Iching.  China Media Research  vol. 6, iss. 2, pp. 94-103, Expanded Academic ASAP. Ulrich, B 2009, Engaging in Crucial Conversations.  Nephrology Nursing Journal  vol.35, iss.6 (2009): 583.  Expanded Academic ASAP. Web.Advertising Looking for essay on communication strategies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Witsel, M (ed.) 2009, Communication in Organisations, 5th edn, McGraw-Hill, New York.

Biology-Mangroves essays

Biology-Mangroves essays Mangroves are woody plants or plant communitys which live between the sea and the land in areas that have tides. Therefore they are found on coastlines all around the world where the water is warm enough. They can be trees but (like a rainforest plant) they can also be shrubs or palms. All share the ability to live in salt water. Mangrove plants have had to adapt quite a lot in order to survive in their marine environment. Their water intake is saline so they have had to make adaptations in order to rid themselves of the excess salt. One method is to excrete salt which has entered the system through their leaves. These leaves have special salt glands which are among the most active salt-secreting systems known. It is quite possible to see or even taste the salt on the leaf surfaces of species that choose this method. Another method is to reduce the uptake of salt at the roots. The last method of coping with salt is to concentrate it in bark or in older leaves that carry it with them when they drop. Mangroves have developed special root adaptations called pneumatophores or ariel roots to deal with the soft, salty, oxygen deficient soils they live in. These pneumatophores stick out of the shallow waters allowing the mangroves to take in air at the roots. This oxygen cant go below 1 metre under the soil because of pressure so the root systems are branched out through the soil. If these roots didnt branch out the trees wouldnt be able to support their weight so they would fall down. Mangroves have made other adaptations to help them survive in their environment as well. For instance mangroves have a special method of forming their seeds. They are covered by a tough skin that protects them until they are ready to fall from the tree. When they fall this skin also allows them to float. While they are floating on the water the roots form on the seed until they are long enough to catch on the mud or san...

Discuss at least two of the U.S. Supreme Court rulings in regards to Essay

Discuss at least two of the U.S. Supreme Court rulings in regards to the death penalty and how it has impacted capital punishment in the United States - Essay Example In fact, it was against the 8th Amendment of the United States Constitution. In the case of Kennedy v. Louisiana, 554 U.S. 407 (2008), involving the rape of a 12 year old girl by his stepfather, the ruling was against the death penalty. It was argued that one should not be sentenced to death since the victim did not die. They laid out debate that it was unfair to kill such a criminal since it was not a capital offense compared to other cases involving outright murder. There is a trend showing that with the passing of time, capital punishments had to be revised so as to allow justice and consistency in the rulings of court. No evidence has shown that the death penalty had an effect on the rate of crime in any state. This was because, if anything, it contributed to murder at all levels and the devaluation of human

Wireless security Essay Example | Topics and Well Written Essays - 500 words

Wireless security - Essay Example The reason is that hackers break into the networks to identify the security holes present in the networks. The aim of the hackers is not to commit theft, destroy, or steal any sort of private information; rather the intention is to make the network administrators improve the security of their networks. Ciampa (2009) found that a hacker is a person who makes use of advanced programming skills and techniques to break illegally into any specific computer system in order to expose the security flaws (p. 16). Some attackers believe that the act of hacking is ethical because the aim is neither to steal information nor to create any sort of problem for the user of the computer system. If a hacker attacks my personal computer system, it will make me aware that the security features, which I have implemented for the protection of my computer, are not strong enough to combat the attacks of the hackers. Therefore, I would like a hacker to break into my security wall to identify the security fla ws in my system, which will make me improve my security by installing more trustworthy and reliable security features in order to make my computer more safe and secure than before.