Research Paper on Gangs Essay Example

Research Paper on Gangs Essay A gang is a specific group of people, who are united on the basis of a certain idea, purpose, kind of activity, preferences, age, and exist and ‘work’ on a particular territory. Every band is often opposed by the other one, which possesses some other believes and supports another idea. This reason always become the basis for numerous conflicts, even wars. According to the opinion of the general public, every gang exists only to commit all sort of crimes. Crimes have always accompanied the human civilization and criminals acted individually very seldom. The most typical and effective way to commit crimes is gathering into gangs. Gangs have a very complicated and strict structure or organization. There is always the head of a gang. This gang member is probably the oldest one and likely possesses the smallest criminal record and they always have great authority and power to control the activity of the gang and recruit new members. The members of the gangs often try to identify themselves with clothes, haircuts, various symbols or signs. The topic of gangs is quite important and stressing, because only in the US there are 30,000 gangs, with 760,000 members who are dangerous for people around. Many people all over the world are targets of the attack of various gangs who do it from different motives and purposes. The topic about gangs should present the historical background of the problem, deep analysis of the functioning of gangs, their structure, and reasons of creation and results of their activity. Quite useful will be tables and graphs with statistics on the topic. Finally, a good research paper should present the ways which are helpful for people to protect themselves from the attacks and various tips with useful advice how to act when you face gang members on the street. We will write a custom essay sample on Research Paper on Gangs specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Research Paper on Gangs specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Research Paper on Gangs specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Students who need to write research paper on gangs in America will have to read much to understand the topic well. There are many reliable books, encyclopedias, magazines and newspapers which are dedicated to the research of the gangs and their nature. Students should not limit themselves with the reading of the literary sources, but free example research papers on gangs in prison will be interesting and helpful to those students who can not find enough facts concerning the topic and want to know how a paper should be organized. Nearly every free sample research paper on street gangs is prepared by a professional writer who shows the proper way of paper writing. Reading such a paper you realize the structure of the paper, format and the way of presentation of data. At EssayLib.com custom writing service you can buy a custom research paper on Gangs topics. Your research paper will be written from scratch. We hire top-rated Ph.D. and Master’s writers only to provide students with professional research paper assistance at affordable rates. Each customer will get a non-plagiarized paper with timely delivery. Just visit our website and fill in the order form with all paper details: Enjoy our professional research paper writing service!

Exchange Trip Tragedy

Exchange Trip Tragedy What is important for ensuring the safety on school field trip? Hashtag: #Germanwings Exchange Trip Tragedy Two teachers and 16 of their 10th-grade students perished when German Wings Flight 4U9525 crashed in the French Alps last March 24. These high school students spent a weeklong exchange trip in a town near Barcelona and on their way back to Haltern, a rural town, 80 kilometers North East of Dusseldorf, Germany when the tragedy occurred. School-sponsored off school field trips are designed to enhance classroom learning, cultivate a variety of interest among students, and expose them to a different culture. An â€Å"Exchange Trip† exclusively provides students with an opportunity to study language and gain overseas experience. For instance, the 10th graders who were on board Flight AU9525 were given the opportunity to learn Spanish language and culture in a town near Barcelona. However, although the objective of school field trip greatly benefits students in terms of knowledge and skills, such activity is risky and involved several health and safety concerns. Most parents are worried about field trip’s inherent risk of injuries such as falls, slips, and others and the ratio of teachers to students in ensuring the safety of each participant. The above concerns are legitimate as in reality, a significant number of students perished or were severely injured during their field trips. For instance, seven students of a State University crossing a river during their educational tour died when the water suddenly surged and swept them away. Two middle school students on a field trip were severely injured when the small aircraft carrying them skidded off the runway and went down on a steep embankment at Rock Airport in Pennsylvania, U.S. in 2011. In 2014, hundreds of Korean high school students on a field trip to Holiday Island drowned when their ferry suddenly sank and swept away by subsequent strong currents and underflow. Why Are You Not in Class and There Bleeding Ensuring the Safety on School Field Trip Most schools’ field trip policy holds trip leaders directly responsible for the safety of all students, staff, and volunteers, during a field trip. Under this policy, trip leaders are commonly expected to perform several basic duties such as warn and inform, provide instructions and safety equipment, supervise, and provide swift and appropriate post-injury care. Supervising hundreds of students at all times and exercising close control over them during a field trip seems nearly impossible for field trip leaders but it can be done through systematic accounting and assigning the right number of supervisors for a particular field trip. For instance, a number of students, age, maturity, type and duration of a field trip, transportation, and emergency requirements are factors for determining the number of chaperones required. Since field trips concern parents, it is critical for trip leaders or teachers to acquire permission and provide parents with necessary information such as the purpose of the trip, food and clothing requirements, and others. Controlling students during a field trip is much easier when they are well informed and committed to their own safety. For instance, students who clearly understand the reasons for safety guidelines are likely to internalize a commitment to safeguard themselves and others and become a vigilant teacher’s partner in safety. For as long as safety measures are strictly followed, air travel according to study is still one of the safest forms of travel. In fact, although surviving an aircraft accident is low, commercial airlines accidents are relatively rare. School-sponsored exchange trips, therefore, should continue and not be discouraged by the recent German Wings crash.

Medical School Personal Statement Example | Topics and Well Written Essays - 750 words

Medical School - Personal Statement Example n and suffering in this world be minimized, I see a career in a medical related discipline as my way of helping other become happy in their life and, in return, for them to be able give back to society by living a healthy and productive life. My specific area of interest is to either become an orthopedic surgeon or to work in an area of internal medicine. Through it all, I feel that my role in either of these two areas will help me help others improve their overall well-being. Having grown up in a low-income household within a poor bedrock community, I can see myself working in such an area as I begin my medical career. Just as various individuals have come into my life through the years to motivate me to escape a life of poverty, I feel I can help instill a passion in others to do the same. Also, as a disproportionate number of poor people live in ill-health, without adequate access to quality medical care, this is definitely an area that I can feel I can be an asset. Looking back on my life, I can say that my interest in pursuing a career in medicine began when I was in middle school. As a teenager, even though I lived in a poorer demographic group, I honestly felt full of hope and optimism for the future. I thought everyone was filled with such hope, yet various incidences and my own studies quickly made me realize the the world is full of oppression and despair. I knew then, as I know now, that I want to be an agent of change for these individuals. As I moved through my adolescent years, I had various friends who had parents die of cancer or heart disease. I also saw family members become extremely ill due to their poor health, and this began to trouble me. Asking myself why people did not always seem to take adequate care of themselves, I realized that it was because they likely did not know any better. At that time I decided that I could be such a person that bought medical knowledge and care to those in my community. Hence my desire now to

Cost of Production - Larson & Larson Company Assignment

Cost of Production - Larson & Larson Company - Assignment Example 8660/12800 = ?0.68/unit For T, 50 labour hours @ ?12 + ?1800 for 2,400 Rate per unit = ?2400/2400 = ?1/unit Part b ABC system would be used if the other costs such as run and inspection are actually considered to obtain the true value of the project costs. With the weighted percentages, it can be possible to determine the product value considering each part of the process. In addition to the works on OAR, we calculate according the apportionment of the other expenses such that we will have the calculation that includes all the aspects for ABC as follows: For R, 68 x ? 12 apportioned appropriately in the ratio 3:4:3 then calculated for one unit by dividing by 560, the value is then added to other cost due to material and direct labour hours. = ?1.46/unit The total unit cost of R being ?2.69/ unit ?2.69/ unit1.46/ unit = ?3.15/unit For S, = 50 x ? 12 in the ratio 3:4:3 and calculated for one unit by dividing by 12,800 = 600/12800 = ?0.05/unit Total unit cost being 0.68 + 0.05 = ?0.73/u nit For T, would similarly be obtained as 58 x ?12/600 + ?1/unit =?2.26/unit Part c ABC as a method or accpunting model as developed inorder to solve problems related to accounting that has actually evolved over time due to the change in technology as well operations within the industries (Warren, Reeve & Fess 2005). It is clear that overhead costs have been increasing in companies to the point that it may be extremely difficult to use the direct methods which only emphasized on resources as well as the absorbed costs of the out. This assumed at a great expense, the impact of operations and the many intermediaries involved which comprise of the majority of the overhead costs. ABC therefore is the only practical remedy to the inefficiencies of the traditional accounting methods. At the core of ABC there exist very important principles and arguments which contribute to differentiating it from other accounting methods. ABC holds that the cost objects will consume the activities contrar y to the principle of other traditional accounting methods which argue that cost objects may only consume the resources (Naidu, Babu & Rajendra 2006). In normal operations, the costs actually will end utilizing the activities in the production line which actually depend on the resources. This aspect makes ABC more realistic and effective in determine the unit cost of production. Whereas other traditional methods base on volume allocation of the production resources, ABC considers the drivers at each level and their effect on production to determine the allocation. The drivers considered include activity drivers as well as the activity drivers which check every other production element and its cause effect relationship to the output. Further difference and principle of ABC comes from the fact that the traditional accounting are developed on the basis of structures while ABC actually depends on the process itself and therefore takes care of the various that may occur in the process. A BC begins from the process as it moves upwards to assess the amount of resources utilized and that might be required. Critically, ABC analyses the activities with the understanding that it is not easy or possible to manage costs but the activities causing the costs are manageable so that in the end, it is the activities that the organization takes or that is taken in the production process which will determine the costs (Pryor 1998). The

Economic analysis of the new system Essay Example | Topics and Well Written Essays - 250 words

Economic analysis of the new system - Essay Example The new economic system requires monthly equipment training (1 hour training), Monthly software training (1 hour training), and monthly IT training on new system software. The return on investment is very significant to a company because it predicts the ratio or percentage of profits or gains to cost. However, the company manager need to understand that return on investment does not talk about time nor does it show how long a business might take to gain a certain percentage. In addition, it does not demonstrate the risk or danger of an investment. Payback analysis is very significant since it shows the duration a business takes for the entire gains from an investment to reach the cumulative cost. Therefore, investments with less time for payback have lower risks or danger than those with much time or longer periods have. The benefits are tangible and intangible. The tangible benefits are enhanced quality and inventory. In addition, it facilitates inclusion of all devices with real components, it give mobile users time to carry out practical transactions in absence of an available terminal. It improves lead-time reduction, helps to ensure all devices are built with the correct components the first time, a dramatic reduction in costly material scraps and wasted overhead that result from rework and by minimizing the risk of mixed components. It also Improve operator efficiencies, PCVs use of mobile devices gives users the freedom to perform real-time transactions while they work without having to seek out an available terminal. Additionally, intangible Benefits are indirect benefits that cannot be seen. For instance, such benefits are enhancing customer service via increased access and increased company control, which in turn avoids misuse of company resources. Further, it Increases company’s tr ansparency and responsibility, less chance of "losing" documents and

Effect of Globalization on Business and Profit Making

Effect of Globalization on Business and Profit Making Chapter 1 Throughout history, profit-making entities (among other) have constructed an ever-more-global economy. In the last 15 years or so, unprecedented changes in communications and computer technologies have given the process new momentum. Multinational corporations manufacture products in many countries and sell to consumers around the world. Money, know-how and raw materials move ever more rapidly across national borders. Along with products and finances, ideas and cultures mingle more unreservedly. As globally mobile capital reorganises business firms, it sweeps away regulation and undermines local and national politics. Globalisation creates new spins of old trading ideas (auctions are becoming increasingly prevalent in buying and selling); it starts new markets and it contributes to wealth, even as it causes extensive distress, chaos, and strife. It is both a source of tyranny and a medium for global movements of social integrity and liberation. Undoubtedly, in the first quarter of the 21st century, the profit-making firm functions in an environment full of global opportunities and threats; and in the wake of recent corporate scandals, the firm, simultaneously, is heavily constrained by ethical self-restraining as well as innovative regulations enforced by domestic and global-governance institutions. 1 Globalisation According to A.T. Kearney/Foreign Policy Globalization Index (2003), which is based on indicators such as economic integration, technological connectivity, personal contact, and political engagement (see Table 1 below), from about 1999 to 2003, global foreign direct investment and portfolio capital flows slowed down significantly thus contributing to the weakening of globalisation. Other global trends, especially international tourism, telephone traffic and worldwide access to the internet stayed strong helping to compensate for the weakening of international economic ties, thus deepening global links overall. What are the lessons that the profit-making firm may derive from the globalisation of economic activity? It appears that global markets, as discussed in the remainder of the section, ‘offer to the firm less legal restrictions, induce reduction in excess capacity, cause higher market concentration and contribute to higher profits. Consider 1, which links together two 2-dimensional diagrams: one has its origin in the southwest with global concentration measured on the vertical axis and profits on the horizontal; the other has its origin in the northeast with excess capacity measured on the vertical axis and legal restrictions on the horizontal. As it is discussed below, globalisation enables firms to move ‘northeast from point A to point B. Table 1 A.T. Kearney/Foreign Policy Globalization Index (2003) The 2003 results do not show causation, but they do point to significant correlations; they demonstrate that the most global countries are those where residents live the longest, healthiest lives; women enjoy the strongest social, educational, and economic progress; global integration leads to secularisation. For the third year in a row, in 2003, Ireland ranks as the most global, due to the countrys deep economic links and high levels of personal contact with the rest of the world. Western Europe claimed six out of the ten most globally integrated countries in this years survey. And the USA broke into the top ten, ranking first in the number of secure servers and internet hosts per capita. Countries from Central and Eastern Europe, Australasia, and Southeast Asia also made it into the upper tier (the five most global countries are reported above followed by the top five global firms in Europe and Asia). Ranking indicators  · Economic integration: trade, foreign direct investment, portfolio capital flows, and investment income.  · Technological connectivity: internet users, internet hosts, and secured servers.  · Personal contact: international travel and tourism, international telephone traffic, and remittances and personal transfers (including worker remittances, compensation to employees, and other person-to-person and non-governmental transfers).  · Political engagement: memberships in international organisations, personnel and financial contributions to UN Security Council missions, international treaties ratified, and governmental transfers. 1.1 Legal restrictions As globalisation expands, many firms find themselves (by choice or coincidence) operating in countries that impose less legal business regulations relative to their home countries. Global firms put pressure on local governments to establish more favourable business regulations or refrain from enforcing their regulatory laws (regardless of how minimal or fair they are) or, if such laws do not exist, to avoid applying them. As a result, less regulated or totally unregulated markets reduce barriers on the flow of goods and money across borders, creating a more integrated and profitable global economy. Over regulation: Business firms in developing nations face much larger regulatory constraints than those in developed nations; as reported in Doing Business in 2005 [World Bank, (2004), p.3], â€Å"(a) they face 3 times the administrative costs, and nearly twice as many bureaucratic procedures and delays associated with them. And they have fewer than half the protections of property rights of rich countries. (b) Heavy regulation and weak property rights exclude the poor from doing business. In poor countiers 40% of the economy is informal. Women, young and low-skilled workers are hurt the most.† The lowering of over regulatory constraints is actively pursued because it brings benefits to firms (they spend less money and time on dealing with regulations) and to governments (they spend fewer resources regulating and more providing social services). Moreover, fewer regulations attract foreign firms with all benefits and, of course, costs associated with them. Hence, globalisation enables firms to benefit from the removal of unnecessary regulations and the establishing of trade-encouraging, incentive-loaded laws. At the same time though due to ‘global complexity, the emergence of new innovative technology-driven markets as well as inability of regulatory authorities to enforce the existing legal enactments (reformed or not), some firms, as described below under illicit trade, may avoid compliance with domestic or international laws. Illicit trade: The fact that, globally, unlawful trade in products and services involving intellectual property, money laundering, third shift production and alien smuggling has been on the rise, implies that authorities in various countries experience hard time in dealing with the problem. As Naim (2003) writes, intellectual property illegalities, a modern kind of piracy, involves business software, shampoos, motorbikes, medical drugs, industrial valves, supply of illegally copied copyrighted music, and among other, theft of brand names. In Naims words: â€Å"Governments have attempted to protect intellectual property rights through various means, most notably the World Trade Organizations Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Several other organizations such as the World Intellectual Property Organization, the World Customs Union, and Interpol are also involved. Yet the large and growing volume of this trade, or a simple stroll in the streets of Manhattan or Madrid, show that governments are far from winning this fight.† Additionally, deregulations of financial markets have given rise to rogue global banking, tax havens, and money laundering. All these factors make possible cross-border money transfers, while simultaneously, improvements in electronic technologies make distance less of a barrier and turn money into e-money defined by Naim as â€Å"cards with microchips that can store large amounts of money and thus can be easily transported outside regular channels or simply exchanged among individuals.† Naim states that â€Å"estimates of the volume of global money laundering range between 2 and 5 percent of the worlds annual gross national product, or between $800 billion and $2 trillion. †¦ The sophistication of technology, the complex web of financial institutions that crisscross the globe, and the ease with which â€Å"dirty† funds can be electronically morphed into legitimate assets make the regulation of international flows of money a daunting task† magnified by the introduction of e-money.† Moreover, according to the United Nations, alien smuggling is the fastest growing business of organised crime. According to Naim, this kind of modern enslavement has become a $7 billion a year enterprise and it involves mostly women and children; and contrary to the efforts made by governments to curtail the problem, especially in the UK, Southern Europe and in the USA, the problem is becoming more difficult and complicated over time. Again, Naim puts it graphically: â€Å"A woman can be â€Å"bought† in Timisoara, Romania, for between $50 and $200 and â€Å"resold† in Western Europe for 10 times that price. The United Nations Childrens Fund estimates that cross-border smugglers in Central and Western Africa enslave 200,000 children a year. Traffickers initially tempt victims with job offers or, in the case of children, with offers of adoption in wealthier countries, and then keep the victims in subservience through physical violence, debt bondage, passport confiscation, and threats of arrest, deportation, or violence against their families back home.† And of course, intellectual property, humans, and financial capital are not the only products and/or services traded illegally for big profits by global networks. There are also markets in human organs, endangered species, stolen fine art, and deadly industrial waste. The unlawful worldwide trades in all these merchandise and services share numerous essential characteristics such as high-tech innovations, societal and political transformations and open fresh markets. Fast spreading globalisation causes the regulatory environment to become more complex which serves as a cover for opportunistic profit through illicit trade, networks and markets. At the same time, governments are becoming increasingly ineffective in dealing with the problem. Although the global community attempts to regulate global business activity through entities such as the World Trade Organization (WTO), the International Monetary Fund (IMF) the World Bank (WB), alliances such as the G-7, or the G-20, and treaties such as the Kyoto Protocol, the global business environment, by and large, is becoming gradually freer. 1.2 Global concentration As legal constraints become wobblier, the power of global firms, in terms of concentration, increases. Widespread merger and acquisition (MA) activities between already big industrial and financial firms started during the 1990s. The new gigantic corporations, by and large, control a large global market share in their respective industries. The build up in global concentration has sweeping implications for the 21st century. As reported by Mohamed (2004) â€Å"total global mergers activity grew from over $150 billion in 1992 to over $2000 billion in 1998, when eight of the worlds ten largest mergers took place. By 1999 it was over $330 billion.† The enhanced mass and influence of these new giants has been central to the intuition that globalisation advances at a blazing speed. In general, most of these global activities, such as MA, foreign direct investment and international trade, are between developed nations. Mohamed reports that â€Å"this concentration of economic power and activity is clearly illustrated by the fact that over 95% of the companies on the Fortune 500 (ranked by value of sales) and FT (Financial Times) 500 (ranked by market capitalization) lists are developed-country companies. In addition, only a handful of developing-country companies feature on the list of the top 300 companies ranked by expenditure on research and development (RD). When one considers that developed countries have less than 20% of the worlds population then the magnitude of the disparities in the global economy cannot be more evident.† Escalated global economic concentration was caused by a number of actions. There was a shift towards focusing on core activities that led to unbundling of formerly diversified conglomerates. There were vast investments in knowledge capital, primarily in hardware, software and information technology (IT) services. Much of the RD outlays of multinational corporations has been on IT, which has helped develop coordination of all aspects of their dealings internationally. There has been globalisation of mass media (e.g., CNN and BBC), which has led to the creation of global franchises (e.g., McDonalds and Wal-Mart), global brands (e.g., Nike) and global marketing infrastructure. The global reach, multiplication and liberalisation of financial markets as well as rapid growth of international capital flows since the 1970s contributed to the growth of multinational corporations. Much of the funds for the new giants came from institutional investors, who prefer big companies that sell popular brands, control large market shares, invest significantly on RD and focus on their nucleus activities. Additionally, as reported by Mohamed, â€Å"the process of global concentration that started in the 1990s happens not only in leading companies but also upstream in their suppliers and downstream in companies distributing their products. The leading companies have pressured their suppliers and distributors to work more closely with them and to become global leaders in their own areas by also growing through MAs. This process has further concentrated the global economy.† 1.3 Excess capacity The massiveness of the global market (the market size effect) along with adaptive, flexible and responsive marketing (the marketing effect) enables global firms to sell more. Additionally, they sell at reduced prices because of lower production costs due to outsourcing and insourcing as well as due to new inexpensive technologies such as the internet and the cell phone (the cost effect). Obviously, market and marketing effects induce firms to reduce their excess capacity but cost effects enable firms to add excess capacity. Whether or not the reduction in excess capacity is in absolute value greater than the increase in excess capacity is an empirical question. Undoubtedly, global manufacturing is on the rise enabling firms to become more adaptable, more flexible in production and distribution as well as more responsive to the needs of customers; and since the global economy is on the rebound after the depths it reached in 2008/2009, see Table 2, it is perhaps reasonable to believe that rising global demand will contribute to a reduction in excess capacity which, in absolute value, would exceed the increase in excess capacity leading to more profit and, hopefully, to improved global economic well-being. Finally, as stated by Helpman (2006), in this global economy we have experienced rapid expansion of trade in services and trade in intermediate inputs. With respect to exports [Helpman, (2006), p.590], â€Å"only a small fraction of firms export, they are larger and more productive than firms that serve only the domestic market, and more firms export to larger markets. A small fraction of firms engage in FDI, and these firms are larger and more productive than exporting firms.† And although according to Helpman (2006, p.591), the theory of comparative advantage, as an explanation of intersectoral international trade, and the theory of imperfect competition, as an explanation of intra-industry trade, are still valid, globalisation brings â€Å"to trade theory a new focus: the organizational choices of individual firms. By focusing on the characteristics of individual firms, the theory can address new questions: Which firms serve foreign markets? And how do they serve them, i.e., which choose to export and which choose to serve foreign markets via FDI? Under what circumstances do they outsource in a foreign country rather than at home? And if they choose integration, under what circumstances do they choose to integrate in a foreign country, via FDI, rather than to integrate at home?† Table 2 Real projected gross domestic product (GDP) and growth rates of GDP for regions (in billions of 2005 dollars) 2000-2015 GDP Year 2000 2005 2006 2007 2008 2009 2010 2015 W 39190.56 44828.46 46641.28 48405.39 49297.02 47992.14 49005.27 58114.16 D 29313.46 32197.09 33091.60 33890.60 34017.97 32749.26 33146.61 37232.39 D less US 18220.25 19763.70 20300.67 20825.75 20895.84 19955.19 20032.69 22162.27 DE 8416.01 10729.04 11507.29 12319.63 12977.47 13056.42 13653.30 18126.72 FCP 1461.09 1902.34 2042.39 2195.16 2301.59 2186.46 2205.35 2755.04 EM 5890.55 7647.06 8198.94 8812.17 9278.61 9278.48 9704.73 12953.24 Annual growth rates Year 2001 2005 2006 2007 2008 2009 2010 2015 W 1.71 3.38 4.04 3.78 1.84 -2.65 2.11 3.45 D 1.27 2.31 2.78 2.41 0.38 -3.73 1.21 2.32 D less US 1.59 1.84 2.72 2.59 0.34 -4.50 0.39 2.07 DE 2.78 6.30 7.25 7.06 5.34 0.61 4.57 5.68 FCP 4.50 5.72 7.36 7.48 4.85 -5.00 0.86 4.57 EM 3.55 6.09 7.22 7.48 5.29 0.00 4.59 5.78 Notes: W = World; D = Developed nations; D less US = Developed nations less US; DE = Developing nations; FCP = Former centrally planned nations EM = Emerging market nations. Source: Data found in World Bank World Development Indicators, International Financial Statistics of the IMF, Global Insight, and Oxford Economic Forecasting, as well as estimated and projected values developed by the Economic Research Service all converted to a 2005 base year. Available at http://www.ers.usda.gov/Data/Macroeconomics/Data/ProjectedRealGDPValues.xls. 1.4 Insourcing and urbanisation in developing economies Insourcing (incoming foreign direct investment) and outsourcing (outgoing foreign direct investment) have been contributing to net benefits of formal firms in both developed and developing nations and in turn to the well being of all. Drezner (2004, p.22), in response to rhetoric against outsourcing in the USA, states that â€Å"outsourcing of American jobs to other countries has become a problem of epic proportion. Fortunately, this alarmism is misguided. Outsourcing actually brings far more benefits than costs, both now and in the long run. If its critics succeed in provoking a new wave of American protectionism, the consequences will be disastrous for the U.S. economy and for the American workers they claim to defend.† In developing nations though, insourcing has been transforming local economies in new directions that cause global anxiety. Demographics in China, India and many more economies indicate that populations, in search of jobs and a better life, have been migrating towards urban, industrialised, centres, abandoning their agrarian lands, creating megacities and giving rise to urbanisation-type problems. (See self-explanatory projected population data for China and India in Tables 3 and 4). Table 3 Urban, rural population trends in China Population (000s) 1985 2005 2025 Total 1,070,175 1,321,569 1,480,430 Urban [Proportion (%)] 241,766 [22.6] 507,725 [38.4] 773,155 [52.2] Rural [Proportion (%)] 828,409 [77.4] 813,845 [61.6] 707,275 [47.5] Source: Available at http://ww2.unhabitat.org/habrdd/conditions/eastasia/china.htm. Table 4 Megacity population trends in India Population (000s) 1991 2011 Total 844,272 1,292,506 Delhi 8,723 24,867 Mumbai 12,572 21,780 Calcutta 10,916 16,509 Source: Available at http://www.ifpindia.org/ecrire/upload/press_ifp_website/ indiapolis_articlerelu.pdf. Megacity build-up and abandonment of agrarian lands have been occurring throughout the developing world1. In all these countries, historical data seems to support two stages of development: In Stage I, prior to insourcing, most of the population lives in the agrarian sector on subsistence agriculture and/or on meagre wages from selling their labour. Overpopulation forces people to exist under perpetually poor conditions causing the supply of labour to be perfectly elastic since there is around abundant low-skilled perfectly substitutable agrarian labour. In general, in this stage of development, the agrarian sector may be described by 2, where A = agrarian, e = equilibrium, WA = wage rate, LA = labour, DA = demand of labour, and LA = supply of labour2. Point V corresponds to the amount of available labour in the sector, point T to the amount of labour employed by the informal economy at equilibrium (point e) and (V-T) to the surplus of labour in the agrarian sector. Insourcing gives rise to Stage II. Incoming foreign direct investment takes root in urban centres (in most cases near the coast, e.g., China) and offers higher wages to attract labour from agrarian regions. In this stage, the industrial sector may be described by 3, where I = industrial. It is assumed that at We supply of labour in the industrial sector is equal to zero (workers would have no incentive to migrate if they cannot receive higher wages). Equilibrium initially occurs at eI, where DI is equal to SI, and labourers get paid WeI > We. At this market wage rate, the industrial sector absorbs portion TU of the total surplus labour available in the countryside. In turn, because there is still unused surplus labour in the agrarian sector (portion UV), more insourcing triggers higher demand for labour in the industrial sector (DI ¢) and migration of the remaining surplus labour; additional migration to urban areas causes the labour supply to become more elastic (the supply functi on flattens and rotates out to SI ¢). At the new and final equilibrium of eI ¢, WeI ¢ The above analysis implies many benefits: employment and income improve; know-how spreads through technology transfer; saving, investment, and tax revenue increase greatly contributing to growth; in addition to the above, people may prefer the city because it is more likely to endeavour entrepreneurial opportunities, find formal education for their children, have access to healthcare, enjoy entertainment, live cosmopolitan lives, and take advantage of proximity to major transposition hubs (for travelling to other countries and inside their own). However, the analysis implies costs as well, especially as they relate to urbanisation, such as: pollution (air, water and land); crime (especially in inner city areas); traffic jams; crowded housing; loss of arable land; food shortages (since people abandon their agrarian fields in the country and/or because they turn agrarian fields near the city into suburbs); creation and stagnation of an informal economy; lack of socialising due to isolation from, and alienation of, neighbours; deterioration in education (due to capacity limitations) as well as healthcare, transportation and governmental services (especially in utilities, fire and police protection); and finally, dependency on food importation, foreign direct investment and foreign capital markets. 1.4.1 Development views: ‘romantic, ‘parasite and ‘dual economy In addition to the above, urbanisation in developing nations spawns informal business firms, which, in general, do not pay taxes or abide by laws and regulations. According to some economists, such firms do not contribute to the overall growth of the economy. Development economists agree though that registered, law abiding, efficiently run entities known as formal business firms have to be encouraged to exist through incentives and governmental policy for they are the only capable of boosting economic growth and development. According to the United Nations (2008, p.1), â€Å"four billion people around the world are robbed of the chance to better their lives and climb out of poverty, because they are excluded from the rule of law.† Informal business firms account for up to about half of economic activity in developing nations but researchers disagree about their role. As explained by La Porta and Shleifer (2008, pp.275-276), â€Å"there are three broad views of this role, (referred) to as the romantic view, the parasite view, and the dual economy ‘dual for short view (otherwise known as the) ‘Wal-Mart theory of development.† In the ‘romantic view, associated with de Soto (2000), informal firms, which are similar to formal (for example, they attract equally talented employees), are held back by barriers to official recognition: lack of secure property titles, deeds, securities and contracts that describe the economically significant aspects of assets. The lowering of such barriers would improve the ability of firms to borrow against registered and secured property-based collateral; additionally, it would enable them to more easily acquire, and/or merge with, other firms. In contrast, the ‘parasite view holds that informal firms, led by less-able, mostly uneducated, entrepreneurs, choose to stay small; as such, they lack the needed scale to operate efficiently and, conveniently, they enjoy cost advantages since they do not pay taxes, offer fringe benefits to employees, follow safety requirements in the workplace or abide by other regulations and the rule of law. These firms impair the economys growth: they reduce overall productivity and they take away market share from more productive formal firms because of their cost advantage over them. Hence, governmental initiatives to uproot these ‘parasites (such as enhancing audit capabilities to reduce tax evasion and enforce regulations) would contribute to efficiency, employment, growth and development. Finally, according to the ‘dual view, informal and formal firms may coexist as long as government tax and regulatory policies support the development of formal firms without encouraging or discouraging informal firms. Unlike the romantic view, this view holds that formal firms are different than informal: formal firms attract more skilful employees, their owners are better entrepreneurs, they are officially recognised, they can raise capital and they abide by regulations. Unlike the parasite view, the dual view maintains that informal firms are not a threat to formal firms because, for the same products, they charge higher prices (due to inefficient production and thus high costs) and because they mostly operate in different markets selling to different clients. La Porta and Shleifer (2008, p.278) report that empirical evidence supports the ‘Wal-Mart theory of economic development and they stress that â€Å"the dual view sees the (informal) firms as providers of a livelihood to millions, perhaps billions, of extremely poor people, and it cautions against any policies that would raise the costs of these firms. This view sees the hope of economic development in policies, such as human capital, tax, and regulatory policies, that promote the creation of (formal) firms, letting the (informal) ones die as the economy develops.† 2 The increasing relevance of auctions Firms may participate in auctions as buyers (bidders) or sellers (auctioneers). As buyers, they want to maximise buyer surplus (the difference between what they would be willing to bid at and the bid they actually pay). As sellers, they want to maximise profit (the difference between the bid they would be willing to sell at and the cost of the auctions object). Although any entity may rely on auctions for selling and buying, a few ‘liaison firms have become very famous over their valuable and pioneering business concepts. Such firms are Christies, Sothebys, and eBay.com. Retail, franchise or land acquisition, government procurement, and various services, among many more, rely on auction-type selling and buying. For example, retail stores (such as Filenes Basement in Boston) report a price on an items tag but the actual price paid by the client is lower the more time the item is up for sale on the floor; in turn, unsold items are donated to charitable organisations. Similarly, sellers in fresh produce markets lower prices towards the end of the day prior to disposing off the items. Governments purchase military assets and/or services of engineers for public infrastructure by relying on bids submitted by the sellers of those services and franchise owners bid for the privilege to own a franchise licence. Home developers, often, buy land in multiple lots through auctions and, of course, eBay has turned every single person on the planet into a potential auctioneer and/or a bidder. Auction results depend on many factors such as type of auctions or design, information of bidders valuations (which may be identical or different) and their attitudes towards risk, whether or not bidders bid on many or on a bundle of units and, of course, on whether or not bidders and auctioneers act ethically. For more details and a guide to literature see Klemperer (1999). 2.1 Bidders (or buyers) Table 5 describes five well-known auction types. Bidders in an English auction would have the incentive to bid higher than other bidders but lower than their true valuation. An advantage to English auctions is that, during the auction, bidders may swiftly revise bids upwards (up to but not higher than whatever they are willing to pay) based on information about the valuations of other bidders in the auction. Bidders in Dutch and First-Price Sealed-Bid auctions would have the incentive to bid strategically so that they never lose to someone with a lower valuation of the item under auction. A strategy for the bidder in these auctions would be to shade down the bid to the unknown second highest bid. As explained by Pepall et al. (2005, pp.640-641), each bidder may estimate the second highest bid as follows: assuming that each bidder in the auction believes that her valuation is the highest, if bidders draw from a uniform distribution [0, Ï…] with all N bidders equally spaced on this interval (where Ï… = highest bid), then the average of the highest value in samples of size N drawn from [0, Ï…], or the second highest bid, would be [(N 1) / N]Ï…. (For example, if there are N = 5 bidders and a bidders highest valuation is $100, then the second highest valuation is [(5 1) / 5] $100 = $80; hence, the optimal bid for this bidder would be $80). But, if the bidder is wrong on her beli ef that she is the highest bidder she may lose the auction. Thus, bid shading implies a possible benefit an Effect of Globalization on Business and Profit Making Effect of Globalization on Business and Profit Making Chapter 1 Throughout history, profit-making entities (among other) have constructed an ever-more-global economy. In the last 15 years or so, unprecedented changes in communications and computer technologies have given the process new momentum. Multinational corporations manufacture products in many countries and sell to consumers around the world. Money, know-how and raw materials move ever more rapidly across national borders. Along with products and finances, ideas and cultures mingle more unreservedly. As globally mobile capital reorganises business firms, it sweeps away regulation and undermines local and national politics. Globalisation creates new spins of old trading ideas (auctions are becoming increasingly prevalent in buying and selling); it starts new markets and it contributes to wealth, even as it causes extensive distress, chaos, and strife. It is both a source of tyranny and a medium for global movements of social integrity and liberation. Undoubtedly, in the first quarter of the 21st century, the profit-making firm functions in an environment full of global opportunities and threats; and in the wake of recent corporate scandals, the firm, simultaneously, is heavily constrained by ethical self-restraining as well as innovative regulations enforced by domestic and global-governance institutions. 1 Globalisation According to A.T. Kearney/Foreign Policy Globalization Index (2003), which is based on indicators such as economic integration, technological connectivity, personal contact, and political engagement (see Table 1 below), from about 1999 to 2003, global foreign direct investment and portfolio capital flows slowed down significantly thus contributing to the weakening of globalisation. Other global trends, especially international tourism, telephone traffic and worldwide access to the internet stayed strong helping to compensate for the weakening of international economic ties, thus deepening global links overall. What are the lessons that the profit-making firm may derive from the globalisation of economic activity? It appears that global markets, as discussed in the remainder of the section, ‘offer to the firm less legal restrictions, induce reduction in excess capacity, cause higher market concentration and contribute to higher profits. Consider 1, which links together two 2-dimensional diagrams: one has its origin in the southwest with global concentration measured on the vertical axis and profits on the horizontal; the other has its origin in the northeast with excess capacity measured on the vertical axis and legal restrictions on the horizontal. As it is discussed below, globalisation enables firms to move ‘northeast from point A to point B. Table 1 A.T. Kearney/Foreign Policy Globalization Index (2003) The 2003 results do not show causation, but they do point to significant correlations; they demonstrate that the most global countries are those where residents live the longest, healthiest lives; women enjoy the strongest social, educational, and economic progress; global integration leads to secularisation. For the third year in a row, in 2003, Ireland ranks as the most global, due to the countrys deep economic links and high levels of personal contact with the rest of the world. Western Europe claimed six out of the ten most globally integrated countries in this years survey. And the USA broke into the top ten, ranking first in the number of secure servers and internet hosts per capita. Countries from Central and Eastern Europe, Australasia, and Southeast Asia also made it into the upper tier (the five most global countries are reported above followed by the top five global firms in Europe and Asia). Ranking indicators  · Economic integration: trade, foreign direct investment, portfolio capital flows, and investment income.  · Technological connectivity: internet users, internet hosts, and secured servers.  · Personal contact: international travel and tourism, international telephone traffic, and remittances and personal transfers (including worker remittances, compensation to employees, and other person-to-person and non-governmental transfers).  · Political engagement: memberships in international organisations, personnel and financial contributions to UN Security Council missions, international treaties ratified, and governmental transfers. 1.1 Legal restrictions As globalisation expands, many firms find themselves (by choice or coincidence) operating in countries that impose less legal business regulations relative to their home countries. Global firms put pressure on local governments to establish more favourable business regulations or refrain from enforcing their regulatory laws (regardless of how minimal or fair they are) or, if such laws do not exist, to avoid applying them. As a result, less regulated or totally unregulated markets reduce barriers on the flow of goods and money across borders, creating a more integrated and profitable global economy. Over regulation: Business firms in developing nations face much larger regulatory constraints than those in developed nations; as reported in Doing Business in 2005 [World Bank, (2004), p.3], â€Å"(a) they face 3 times the administrative costs, and nearly twice as many bureaucratic procedures and delays associated with them. And they have fewer than half the protections of property rights of rich countries. (b) Heavy regulation and weak property rights exclude the poor from doing business. In poor countiers 40% of the economy is informal. Women, young and low-skilled workers are hurt the most.† The lowering of over regulatory constraints is actively pursued because it brings benefits to firms (they spend less money and time on dealing with regulations) and to governments (they spend fewer resources regulating and more providing social services). Moreover, fewer regulations attract foreign firms with all benefits and, of course, costs associated with them. Hence, globalisation enables firms to benefit from the removal of unnecessary regulations and the establishing of trade-encouraging, incentive-loaded laws. At the same time though due to ‘global complexity, the emergence of new innovative technology-driven markets as well as inability of regulatory authorities to enforce the existing legal enactments (reformed or not), some firms, as described below under illicit trade, may avoid compliance with domestic or international laws. Illicit trade: The fact that, globally, unlawful trade in products and services involving intellectual property, money laundering, third shift production and alien smuggling has been on the rise, implies that authorities in various countries experience hard time in dealing with the problem. As Naim (2003) writes, intellectual property illegalities, a modern kind of piracy, involves business software, shampoos, motorbikes, medical drugs, industrial valves, supply of illegally copied copyrighted music, and among other, theft of brand names. In Naims words: â€Å"Governments have attempted to protect intellectual property rights through various means, most notably the World Trade Organizations Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Several other organizations such as the World Intellectual Property Organization, the World Customs Union, and Interpol are also involved. Yet the large and growing volume of this trade, or a simple stroll in the streets of Manhattan or Madrid, show that governments are far from winning this fight.† Additionally, deregulations of financial markets have given rise to rogue global banking, tax havens, and money laundering. All these factors make possible cross-border money transfers, while simultaneously, improvements in electronic technologies make distance less of a barrier and turn money into e-money defined by Naim as â€Å"cards with microchips that can store large amounts of money and thus can be easily transported outside regular channels or simply exchanged among individuals.† Naim states that â€Å"estimates of the volume of global money laundering range between 2 and 5 percent of the worlds annual gross national product, or between $800 billion and $2 trillion. †¦ The sophistication of technology, the complex web of financial institutions that crisscross the globe, and the ease with which â€Å"dirty† funds can be electronically morphed into legitimate assets make the regulation of international flows of money a daunting task† magnified by the introduction of e-money.† Moreover, according to the United Nations, alien smuggling is the fastest growing business of organised crime. According to Naim, this kind of modern enslavement has become a $7 billion a year enterprise and it involves mostly women and children; and contrary to the efforts made by governments to curtail the problem, especially in the UK, Southern Europe and in the USA, the problem is becoming more difficult and complicated over time. Again, Naim puts it graphically: â€Å"A woman can be â€Å"bought† in Timisoara, Romania, for between $50 and $200 and â€Å"resold† in Western Europe for 10 times that price. The United Nations Childrens Fund estimates that cross-border smugglers in Central and Western Africa enslave 200,000 children a year. Traffickers initially tempt victims with job offers or, in the case of children, with offers of adoption in wealthier countries, and then keep the victims in subservience through physical violence, debt bondage, passport confiscation, and threats of arrest, deportation, or violence against their families back home.† And of course, intellectual property, humans, and financial capital are not the only products and/or services traded illegally for big profits by global networks. There are also markets in human organs, endangered species, stolen fine art, and deadly industrial waste. The unlawful worldwide trades in all these merchandise and services share numerous essential characteristics such as high-tech innovations, societal and political transformations and open fresh markets. Fast spreading globalisation causes the regulatory environment to become more complex which serves as a cover for opportunistic profit through illicit trade, networks and markets. At the same time, governments are becoming increasingly ineffective in dealing with the problem. Although the global community attempts to regulate global business activity through entities such as the World Trade Organization (WTO), the International Monetary Fund (IMF) the World Bank (WB), alliances such as the G-7, or the G-20, and treaties such as the Kyoto Protocol, the global business environment, by and large, is becoming gradually freer. 1.2 Global concentration As legal constraints become wobblier, the power of global firms, in terms of concentration, increases. Widespread merger and acquisition (MA) activities between already big industrial and financial firms started during the 1990s. The new gigantic corporations, by and large, control a large global market share in their respective industries. The build up in global concentration has sweeping implications for the 21st century. As reported by Mohamed (2004) â€Å"total global mergers activity grew from over $150 billion in 1992 to over $2000 billion in 1998, when eight of the worlds ten largest mergers took place. By 1999 it was over $330 billion.† The enhanced mass and influence of these new giants has been central to the intuition that globalisation advances at a blazing speed. In general, most of these global activities, such as MA, foreign direct investment and international trade, are between developed nations. Mohamed reports that â€Å"this concentration of economic power and activity is clearly illustrated by the fact that over 95% of the companies on the Fortune 500 (ranked by value of sales) and FT (Financial Times) 500 (ranked by market capitalization) lists are developed-country companies. In addition, only a handful of developing-country companies feature on the list of the top 300 companies ranked by expenditure on research and development (RD). When one considers that developed countries have less than 20% of the worlds population then the magnitude of the disparities in the global economy cannot be more evident.† Escalated global economic concentration was caused by a number of actions. There was a shift towards focusing on core activities that led to unbundling of formerly diversified conglomerates. There were vast investments in knowledge capital, primarily in hardware, software and information technology (IT) services. Much of the RD outlays of multinational corporations has been on IT, which has helped develop coordination of all aspects of their dealings internationally. There has been globalisation of mass media (e.g., CNN and BBC), which has led to the creation of global franchises (e.g., McDonalds and Wal-Mart), global brands (e.g., Nike) and global marketing infrastructure. The global reach, multiplication and liberalisation of financial markets as well as rapid growth of international capital flows since the 1970s contributed to the growth of multinational corporations. Much of the funds for the new giants came from institutional investors, who prefer big companies that sell popular brands, control large market shares, invest significantly on RD and focus on their nucleus activities. Additionally, as reported by Mohamed, â€Å"the process of global concentration that started in the 1990s happens not only in leading companies but also upstream in their suppliers and downstream in companies distributing their products. The leading companies have pressured their suppliers and distributors to work more closely with them and to become global leaders in their own areas by also growing through MAs. This process has further concentrated the global economy.† 1.3 Excess capacity The massiveness of the global market (the market size effect) along with adaptive, flexible and responsive marketing (the marketing effect) enables global firms to sell more. Additionally, they sell at reduced prices because of lower production costs due to outsourcing and insourcing as well as due to new inexpensive technologies such as the internet and the cell phone (the cost effect). Obviously, market and marketing effects induce firms to reduce their excess capacity but cost effects enable firms to add excess capacity. Whether or not the reduction in excess capacity is in absolute value greater than the increase in excess capacity is an empirical question. Undoubtedly, global manufacturing is on the rise enabling firms to become more adaptable, more flexible in production and distribution as well as more responsive to the needs of customers; and since the global economy is on the rebound after the depths it reached in 2008/2009, see Table 2, it is perhaps reasonable to believe that rising global demand will contribute to a reduction in excess capacity which, in absolute value, would exceed the increase in excess capacity leading to more profit and, hopefully, to improved global economic well-being. Finally, as stated by Helpman (2006), in this global economy we have experienced rapid expansion of trade in services and trade in intermediate inputs. With respect to exports [Helpman, (2006), p.590], â€Å"only a small fraction of firms export, they are larger and more productive than firms that serve only the domestic market, and more firms export to larger markets. A small fraction of firms engage in FDI, and these firms are larger and more productive than exporting firms.† And although according to Helpman (2006, p.591), the theory of comparative advantage, as an explanation of intersectoral international trade, and the theory of imperfect competition, as an explanation of intra-industry trade, are still valid, globalisation brings â€Å"to trade theory a new focus: the organizational choices of individual firms. By focusing on the characteristics of individual firms, the theory can address new questions: Which firms serve foreign markets? And how do they serve them, i.e., which choose to export and which choose to serve foreign markets via FDI? Under what circumstances do they outsource in a foreign country rather than at home? And if they choose integration, under what circumstances do they choose to integrate in a foreign country, via FDI, rather than to integrate at home?† Table 2 Real projected gross domestic product (GDP) and growth rates of GDP for regions (in billions of 2005 dollars) 2000-2015 GDP Year 2000 2005 2006 2007 2008 2009 2010 2015 W 39190.56 44828.46 46641.28 48405.39 49297.02 47992.14 49005.27 58114.16 D 29313.46 32197.09 33091.60 33890.60 34017.97 32749.26 33146.61 37232.39 D less US 18220.25 19763.70 20300.67 20825.75 20895.84 19955.19 20032.69 22162.27 DE 8416.01 10729.04 11507.29 12319.63 12977.47 13056.42 13653.30 18126.72 FCP 1461.09 1902.34 2042.39 2195.16 2301.59 2186.46 2205.35 2755.04 EM 5890.55 7647.06 8198.94 8812.17 9278.61 9278.48 9704.73 12953.24 Annual growth rates Year 2001 2005 2006 2007 2008 2009 2010 2015 W 1.71 3.38 4.04 3.78 1.84 -2.65 2.11 3.45 D 1.27 2.31 2.78 2.41 0.38 -3.73 1.21 2.32 D less US 1.59 1.84 2.72 2.59 0.34 -4.50 0.39 2.07 DE 2.78 6.30 7.25 7.06 5.34 0.61 4.57 5.68 FCP 4.50 5.72 7.36 7.48 4.85 -5.00 0.86 4.57 EM 3.55 6.09 7.22 7.48 5.29 0.00 4.59 5.78 Notes: W = World; D = Developed nations; D less US = Developed nations less US; DE = Developing nations; FCP = Former centrally planned nations EM = Emerging market nations. Source: Data found in World Bank World Development Indicators, International Financial Statistics of the IMF, Global Insight, and Oxford Economic Forecasting, as well as estimated and projected values developed by the Economic Research Service all converted to a 2005 base year. Available at http://www.ers.usda.gov/Data/Macroeconomics/Data/ProjectedRealGDPValues.xls. 1.4 Insourcing and urbanisation in developing economies Insourcing (incoming foreign direct investment) and outsourcing (outgoing foreign direct investment) have been contributing to net benefits of formal firms in both developed and developing nations and in turn to the well being of all. Drezner (2004, p.22), in response to rhetoric against outsourcing in the USA, states that â€Å"outsourcing of American jobs to other countries has become a problem of epic proportion. Fortunately, this alarmism is misguided. Outsourcing actually brings far more benefits than costs, both now and in the long run. If its critics succeed in provoking a new wave of American protectionism, the consequences will be disastrous for the U.S. economy and for the American workers they claim to defend.† In developing nations though, insourcing has been transforming local economies in new directions that cause global anxiety. Demographics in China, India and many more economies indicate that populations, in search of jobs and a better life, have been migrating towards urban, industrialised, centres, abandoning their agrarian lands, creating megacities and giving rise to urbanisation-type problems. (See self-explanatory projected population data for China and India in Tables 3 and 4). Table 3 Urban, rural population trends in China Population (000s) 1985 2005 2025 Total 1,070,175 1,321,569 1,480,430 Urban [Proportion (%)] 241,766 [22.6] 507,725 [38.4] 773,155 [52.2] Rural [Proportion (%)] 828,409 [77.4] 813,845 [61.6] 707,275 [47.5] Source: Available at http://ww2.unhabitat.org/habrdd/conditions/eastasia/china.htm. Table 4 Megacity population trends in India Population (000s) 1991 2011 Total 844,272 1,292,506 Delhi 8,723 24,867 Mumbai 12,572 21,780 Calcutta 10,916 16,509 Source: Available at http://www.ifpindia.org/ecrire/upload/press_ifp_website/ indiapolis_articlerelu.pdf. Megacity build-up and abandonment of agrarian lands have been occurring throughout the developing world1. In all these countries, historical data seems to support two stages of development: In Stage I, prior to insourcing, most of the population lives in the agrarian sector on subsistence agriculture and/or on meagre wages from selling their labour. Overpopulation forces people to exist under perpetually poor conditions causing the supply of labour to be perfectly elastic since there is around abundant low-skilled perfectly substitutable agrarian labour. In general, in this stage of development, the agrarian sector may be described by 2, where A = agrarian, e = equilibrium, WA = wage rate, LA = labour, DA = demand of labour, and LA = supply of labour2. Point V corresponds to the amount of available labour in the sector, point T to the amount of labour employed by the informal economy at equilibrium (point e) and (V-T) to the surplus of labour in the agrarian sector. Insourcing gives rise to Stage II. Incoming foreign direct investment takes root in urban centres (in most cases near the coast, e.g., China) and offers higher wages to attract labour from agrarian regions. In this stage, the industrial sector may be described by 3, where I = industrial. It is assumed that at We supply of labour in the industrial sector is equal to zero (workers would have no incentive to migrate if they cannot receive higher wages). Equilibrium initially occurs at eI, where DI is equal to SI, and labourers get paid WeI > We. At this market wage rate, the industrial sector absorbs portion TU of the total surplus labour available in the countryside. In turn, because there is still unused surplus labour in the agrarian sector (portion UV), more insourcing triggers higher demand for labour in the industrial sector (DI ¢) and migration of the remaining surplus labour; additional migration to urban areas causes the labour supply to become more elastic (the supply functi on flattens and rotates out to SI ¢). At the new and final equilibrium of eI ¢, WeI ¢ The above analysis implies many benefits: employment and income improve; know-how spreads through technology transfer; saving, investment, and tax revenue increase greatly contributing to growth; in addition to the above, people may prefer the city because it is more likely to endeavour entrepreneurial opportunities, find formal education for their children, have access to healthcare, enjoy entertainment, live cosmopolitan lives, and take advantage of proximity to major transposition hubs (for travelling to other countries and inside their own). However, the analysis implies costs as well, especially as they relate to urbanisation, such as: pollution (air, water and land); crime (especially in inner city areas); traffic jams; crowded housing; loss of arable land; food shortages (since people abandon their agrarian fields in the country and/or because they turn agrarian fields near the city into suburbs); creation and stagnation of an informal economy; lack of socialising due to isolation from, and alienation of, neighbours; deterioration in education (due to capacity limitations) as well as healthcare, transportation and governmental services (especially in utilities, fire and police protection); and finally, dependency on food importation, foreign direct investment and foreign capital markets. 1.4.1 Development views: ‘romantic, ‘parasite and ‘dual economy In addition to the above, urbanisation in developing nations spawns informal business firms, which, in general, do not pay taxes or abide by laws and regulations. According to some economists, such firms do not contribute to the overall growth of the economy. Development economists agree though that registered, law abiding, efficiently run entities known as formal business firms have to be encouraged to exist through incentives and governmental policy for they are the only capable of boosting economic growth and development. According to the United Nations (2008, p.1), â€Å"four billion people around the world are robbed of the chance to better their lives and climb out of poverty, because they are excluded from the rule of law.† Informal business firms account for up to about half of economic activity in developing nations but researchers disagree about their role. As explained by La Porta and Shleifer (2008, pp.275-276), â€Å"there are three broad views of this role, (referred) to as the romantic view, the parasite view, and the dual economy ‘dual for short view (otherwise known as the) ‘Wal-Mart theory of development.† In the ‘romantic view, associated with de Soto (2000), informal firms, which are similar to formal (for example, they attract equally talented employees), are held back by barriers to official recognition: lack of secure property titles, deeds, securities and contracts that describe the economically significant aspects of assets. The lowering of such barriers would improve the ability of firms to borrow against registered and secured property-based collateral; additionally, it would enable them to more easily acquire, and/or merge with, other firms. In contrast, the ‘parasite view holds that informal firms, led by less-able, mostly uneducated, entrepreneurs, choose to stay small; as such, they lack the needed scale to operate efficiently and, conveniently, they enjoy cost advantages since they do not pay taxes, offer fringe benefits to employees, follow safety requirements in the workplace or abide by other regulations and the rule of law. These firms impair the economys growth: they reduce overall productivity and they take away market share from more productive formal firms because of their cost advantage over them. Hence, governmental initiatives to uproot these ‘parasites (such as enhancing audit capabilities to reduce tax evasion and enforce regulations) would contribute to efficiency, employment, growth and development. Finally, according to the ‘dual view, informal and formal firms may coexist as long as government tax and regulatory policies support the development of formal firms without encouraging or discouraging informal firms. Unlike the romantic view, this view holds that formal firms are different than informal: formal firms attract more skilful employees, their owners are better entrepreneurs, they are officially recognised, they can raise capital and they abide by regulations. Unlike the parasite view, the dual view maintains that informal firms are not a threat to formal firms because, for the same products, they charge higher prices (due to inefficient production and thus high costs) and because they mostly operate in different markets selling to different clients. La Porta and Shleifer (2008, p.278) report that empirical evidence supports the ‘Wal-Mart theory of economic development and they stress that â€Å"the dual view sees the (informal) firms as providers of a livelihood to millions, perhaps billions, of extremely poor people, and it cautions against any policies that would raise the costs of these firms. This view sees the hope of economic development in policies, such as human capital, tax, and regulatory policies, that promote the creation of (formal) firms, letting the (informal) ones die as the economy develops.† 2 The increasing relevance of auctions Firms may participate in auctions as buyers (bidders) or sellers (auctioneers). As buyers, they want to maximise buyer surplus (the difference between what they would be willing to bid at and the bid they actually pay). As sellers, they want to maximise profit (the difference between the bid they would be willing to sell at and the cost of the auctions object). Although any entity may rely on auctions for selling and buying, a few ‘liaison firms have become very famous over their valuable and pioneering business concepts. Such firms are Christies, Sothebys, and eBay.com. Retail, franchise or land acquisition, government procurement, and various services, among many more, rely on auction-type selling and buying. For example, retail stores (such as Filenes Basement in Boston) report a price on an items tag but the actual price paid by the client is lower the more time the item is up for sale on the floor; in turn, unsold items are donated to charitable organisations. Similarly, sellers in fresh produce markets lower prices towards the end of the day prior to disposing off the items. Governments purchase military assets and/or services of engineers for public infrastructure by relying on bids submitted by the sellers of those services and franchise owners bid for the privilege to own a franchise licence. Home developers, often, buy land in multiple lots through auctions and, of course, eBay has turned every single person on the planet into a potential auctioneer and/or a bidder. Auction results depend on many factors such as type of auctions or design, information of bidders valuations (which may be identical or different) and their attitudes towards risk, whether or not bidders bid on many or on a bundle of units and, of course, on whether or not bidders and auctioneers act ethically. For more details and a guide to literature see Klemperer (1999). 2.1 Bidders (or buyers) Table 5 describes five well-known auction types. Bidders in an English auction would have the incentive to bid higher than other bidders but lower than their true valuation. An advantage to English auctions is that, during the auction, bidders may swiftly revise bids upwards (up to but not higher than whatever they are willing to pay) based on information about the valuations of other bidders in the auction. Bidders in Dutch and First-Price Sealed-Bid auctions would have the incentive to bid strategically so that they never lose to someone with a lower valuation of the item under auction. A strategy for the bidder in these auctions would be to shade down the bid to the unknown second highest bid. As explained by Pepall et al. (2005, pp.640-641), each bidder may estimate the second highest bid as follows: assuming that each bidder in the auction believes that her valuation is the highest, if bidders draw from a uniform distribution [0, Ï…] with all N bidders equally spaced on this interval (where Ï… = highest bid), then the average of the highest value in samples of size N drawn from [0, Ï…], or the second highest bid, would be [(N 1) / N]Ï…. (For example, if there are N = 5 bidders and a bidders highest valuation is $100, then the second highest valuation is [(5 1) / 5] $100 = $80; hence, the optimal bid for this bidder would be $80). But, if the bidder is wrong on her beli ef that she is the highest bidder she may lose the auction. Thus, bid shading implies a possible benefit an

Humorous Wedding Roast by the Best Man Essay -- Wedding Toasts Roasts

Humorous Wedding Roast by the Best Man Good afternoon Ladies and Gentlemen - My name is Ron and I’m Allen’s best man. Well, I’m the best he could find anyway. But all things considered, I feel that I’ve done my duty well so far today. I delivered a sober groom to the church on time – well, he was definitely on time! I provided the rings on cue, and as I give this speech now, I don’t think I’m going to offend or embarrass anyone. But to ensure this last part, I better keep things fairly short - and I know Allen’s itching to get to the bar. Allen is a social type you see - he likes to have a laugh, a few drinks and a dance. And he’s particularly good at the drinking part, his catchphrase being 'WHOSE ROUND IS IT?' or 'GET TO THE BAR!’ He’d be a good dancer as well if it weren’t ...

Science Lab

Purpose: To find out the densities and to find out the name of the unknown metals. (Based on the extensive and intensive properties) Check up the words mass, volume, density, extensive properties, and intensive properties. Where do the units for mass and volume) come from and what do they mean? What is the density of distilled water? What is Archimedes principle? Does temperature affect the density of a solid? Liquid? Gas? Materials: Safety glasses, 10, 25 or 50 mL graduated cylindersDistilled water Metal Samples W, X,Y & Z Procedure: 1. Class split into 5 groups. Every group will get data for four metals and tell it to the class 2. Choose a metal sample for every group then pass it around between groups. 3. Set a number of your metal sample and record the mass in the table. 4. Get a gradated cylinder with distilled water, but not to much to make it over flow when sample is put in. Record the amount of water in the cylinder accurately 5.Then tip the cylinder to about 45 degrees t hen put sample into it slowly, DON’T spill any water or have to restart. Make sure no air bubbles are clinging. Then take down final volume of water cylinder. 6. Dump the water out, then dry sample off. 7. Repeat this over with the other metal samples. * Hypothesis: * My hypothesis is that even though I will find the densities and names of the unknown metals its not going to be accurate because some water will spill out.Many people are going to come up with the different names because they aren’t care full enough. Mass of metal | | | | | | Initial volume of water | | | | | | Final volume | | | | | | Volume of metal | | | | | | ExperimentalDensity of metal | | | | | | Group Data| | | | | | | Metal W| Metal X| Metal Y| Metal Z| | Class Data: Mass and Volumes of each groups’ metal samples| Lab Group| Metal W| Metal X| Metal Y| Metal Z| 1| | | | | | | | | 2| | | | | | | | | 3| | | | | | | | | 4| | | | | | | | | 5| | | | | | | | | Total *| | | | | | | | | Class Exp.D ensity *| | | | | * 1. Show an example of how your group calculated the experimental densities of your group samples and the class samples. 1. Graph the class data using mass as the x axis and volume as the y axis, (title the graph and make a legend or key for the various metal samples). 1. Compare your group’s experimental density to that of the class’s experimental density from the graph and make comment as to their relative accuracies. 1.Research the possible identities of the metals based on their extensive properties (density, radioactivity, heat capacity, conductivity, lethal exposure/dosage, etc. ) and intensive properties (color, texture, luster, magnetism, reactivity, etc. ). 1. Make a claim as to the identity of the various metals based on their extensive and intensive properties. Calculate the % error for each of your claims for both your group’s experimental values and the class’s. Show an example of each type of calculation and make a table r epresenting the organized results. *

Free Essays on Communications Technology

Communication/ Media Technology This essay will be based on the life and works of some of the more noted innovators in the field of communication and media technology and will include a discussion around how technological advancement may have a detrimental effect on the lives of individuals and society as a whole. Early Methods  ¡Ã‚ ¥Communication ¡Ã‚ ¦ is the act of transmitting and receiving ideas, messages and information. When considering communication between two people it could be described as a by-product or outgrowth of various different methods of self expression that have developed over thousands of years: Gestures accompanied by sounds could have been the beginnings of language. Smoke signals as used by Native Americans, cave paintings and engravings from the Palaeolithic period dating as far back as 10,000  ¡V 40,000 BC are all forms of expression and are efforts to communicate thoughts and ideas. Long before the telephone was developed and became universally available and before the invention of the electric telegraph, communicating over any significant distance would undoubtedly have been protracted and frustrating with letter mail being among the most popular and relied upon method of communication. Semaphore It seems that  ¡Ã‚ ¥fast ¡Ã‚ ¦ long distance technology began during the French revolution, in the late eighteenth century, when French merchant Claude Chappe used a semaphore telegraph to send messages between the French army at Lille and Paris. This was achieved by using a relay system and by changing the position of the arms which were set upon a mast or tower. A message could be sent considerable distances and it was possible to send a semaphore telegraph the 240 kilometres from Lille to Paris in two minutes. Semaphore telegraphs continued to be popular until the early 19th century, until the electric telegraph was invented. Telegraph The electric telegraph was pioneered... Free Essays on Communications Technology Free Essays on Communications Technology Communication/ Media Technology This essay will be based on the life and works of some of the more noted innovators in the field of communication and media technology and will include a discussion around how technological advancement may have a detrimental effect on the lives of individuals and society as a whole. Early Methods  ¡Ã‚ ¥Communication ¡Ã‚ ¦ is the act of transmitting and receiving ideas, messages and information. When considering communication between two people it could be described as a by-product or outgrowth of various different methods of self expression that have developed over thousands of years: Gestures accompanied by sounds could have been the beginnings of language. Smoke signals as used by Native Americans, cave paintings and engravings from the Palaeolithic period dating as far back as 10,000  ¡V 40,000 BC are all forms of expression and are efforts to communicate thoughts and ideas. Long before the telephone was developed and became universally available and before the invention of the electric telegraph, communicating over any significant distance would undoubtedly have been protracted and frustrating with letter mail being among the most popular and relied upon method of communication. Semaphore It seems that  ¡Ã‚ ¥fast ¡Ã‚ ¦ long distance technology began during the French revolution, in the late eighteenth century, when French merchant Claude Chappe used a semaphore telegraph to send messages between the French army at Lille and Paris. This was achieved by using a relay system and by changing the position of the arms which were set upon a mast or tower. A message could be sent considerable distances and it was possible to send a semaphore telegraph the 240 kilometres from Lille to Paris in two minutes. Semaphore telegraphs continued to be popular until the early 19th century, until the electric telegraph was invented. Telegraph The electric telegraph was pioneered...

Center000 Essays - Biology, Biological Nomenclature, Free Essays

Center000 Essays - Biology, Biological Nomenclature, Free Essays center000 center6985 Title: Modern classification and human health Name: Sulaiman Issa Class: 9A Presented to: Farooq Nazer Date:10/18.2017 Year: MYP4 517207588582500 We can all agree the fact that there are millions of species and types of different things in our planet. So scientists wanted to think of a way to group similar living organisms so it will be easier to identify and to help scientists study them, so this idea grew with different scientists and then brought the system of classification or taxonomy, so this system divides organisms to big groups with similar characteristics and as you move down the group the organisms would have more features in common. So after making this system there were multiple groups and the bigger groups were called kingdoms, and we have 5 kingdoms: Animal Kingdom, Plant Kingdom, Fungi Kingdom, Kingdom Bacteria, Kingdom Protista. The taxonomy system was created by Carl Linnaeus. And as the days went scientists improved the ways of classifying organisms which made the world go to a whole new revolution that helps scientists to study new organisms and to help human beings , by under standing and developing new things in the human nature and other living organisms. right571500 Carl Linnaeus the father of modern taxonomy, Linnaeus made a huge evolution in the modern days by creating the taxonomy system, the taxonomy term can be divided as taxis to arrange something and nomos is a law, so biological classification is a process in which scientists group and organize living organisms. And these organisms can be classified how similar they are and how much features they have in common, and in the past they would classify animals depending on similarity by examining the physical characteristics of a living organism but as the years moved these techniques developed. In the classification system there are 5 kingdoms that represent the main living organisms and in each kingdom there are organisms that have the general characteristic but as we move down we can see that the characteristics of the animals is becoming more specified. Also to support my definition an example of classification is the honey bee (Apis mellifera) would be classified in the following way: Kingdom = Animalia , Phylum = Arthropoda , Class = Insecta , Order = Hymenoptera , Family = Apidae , Genus = Apis , Species = Apis mellifer. Species names are always written including the Genus in full, for example, Apis mellifera or A. mellifera respectively . 407416015113000 Now talking about the history of taxonomy and classification the idea of classifying living organisms came from the Greek scientist Aristotle (384-322 B.C.), was one of the first scientist to organize living things, thus among other things he studied, Aristotle was a taxonomist. His idea started by dividing organisms to 2 main groups plants and animals, and then he divided these 2 groups into three smaller groups: Animal Subgroups: Land, Water, Air. And Plant Subgroups: Small, Medium, Large. But his classification system wasn't that good for not fitting all organisms for example frogs start by living in water and having gills like fish but after they grow up they are able to live on land and have lungs so he couldn't classify frogs. And despite all the problems in Aristotle classification system it was used for 2000 years until a Swedish biologist in the 1700s Carolus Linnaeus . Linnaeus got the idea from Aristotle and improved where he used the same thing Aristotle used that is classifying organisms by their traits and both Aristotle and Linnaeus started with two main groups but Linnaeus called them group unlike Aristotle and he divided these kingdoms into five levels: class, order, genus, species. And organisms were placed in each level based on their traits body parts characteristics abilities , sh ape, and physical form and more. And after the years moved the father of taxonomy (Linnaeus) established a very important thing and it is the naming of species were he called it the binomial system, the first part of the species name identifies the genus to which the species belongs; the second part identifies the species within the genus. For example, humans belong to the genus Homo and to the species sapiens , so the

Discussion questions Essay Example | Topics and Well Written Essays - 1500 words

Discussion questions - Essay Example Invalidity of this attributes may bring vast implications in an organization. For example, individual performs poorly may be punished by the supervisor who attributes poor performance with laziness. The problem may be caused by poor training and not lack of effort. Kelley’s model tries to explain how different people tend to understand the reasons behind certain behaviors that they have observed. This understanding can only be realized only if the external attributions are to be made when there is low consistency and the consensus and distinctiveness are high. On the other hand, for one to realize personal responsibility attribution consistency must be high and consensus and distinctiveness should be relatively low. Therefore, if a student tend to argue with the professor in class, it is essential to consider Kelley’s model so as to come up with an amicable solution to such a case. It is essential to try and understand the reason behind that student’s argument to make sure if there is any consistency in what that the student is doing. Formulating an attribute would minimize any chance of having a conflict. Managing diversity is necessary in every organization across the globe. However, quite a number of organizations are not conversant with managing diversity. This has caused many a lot of buriers especially when an organization tries to move forward with any diversity initiative. Some of these buriers include ethnocentrism, poor career planning, inaccurate stereotype and prejudice, and an unsupportive and hostile working environment for diverse employees. Such buriers can be avoided if managers of this organization can work extra hard in managing diversity. These managers should be on the forefront to show the rest of the team what should or should not be done so as to realize their goal in that organization. Doing this makes the employee has a positive thought about the whole idea of managing diversity and thus making the employee put all their energy and time in working together with their manager. The perceptions that people have been exceedingly influenced by the information that these people receive. Therefore, it is hard to have the same perception as compared to other people. The information that one receives is stored and processed and in return there is a certain reaction that follows. We are able to move forward in or day-to-day life by the decisions that we make and our behaviors. This knowledge of perception and how we behave is something to be highly considered at work places. Perception and managing diversity are two important subjects that go hand-in-hand. For an organization to manage diversity effectively, managers should portray a picture that will make other employees want to follow them. Employees tend to have a perception that they can relax at work especially if they see their manager doing the same thing. In order for one to realize his or her goals in life, it is essential to pursue the organi zational goals in a rational and logical manner. The level of intelligence that people has determined the outcome of work. To have a good relationship with both the manager and other staff it is essential to consider having more positive emotions rather than negative ones, for instance, when having a detrimental day at work especially when the manager puts a lot of pressure in your work,

Possible effects of ginseng on blood glucose in diabetic patients Essay

Possible effects of ginseng on blood glucose in diabetic patients - Essay Example The plant is cultivated for its man shaped roots which form an important diet supplement in Asian countries and United States. Historical records reveal the use of ginseng root for effectively treating diseases with symptoms similar to diabetes. However, researches to investigate the antidiabetic effect of Ginseng root began only in the first half of 20th century. Studies conducted by Japanese scientists on the root of Ginseng in the 1920s led to reports confirming the traditional claims of Ginseng root being effective in reducing baseline blood glucose and alleviating hyperglycemia caused as a consequence of high intake of glucose. Ever since numerous in vitro studies, animal trials, clinical trials on the root and root extracts have supported the efficiency of ginseng in controlling blood sugar levels in diabetics and hence has been used for the treatment of diabetes (Xie et al., 2005). The constituents are ginseng root are 80%-90% organic and up to 10% inorganic with multiple acti ve ingredients namely saponins or ginsenosides, many carbohydrates, nitrogenous substances, phytosterols, essential oils, vitamins, minerals, amino acids, peptides and organic acids. The active ingredients reported in the extracts effective in reducing blood glucose levls have been detected with ginsenosides and polysaccharides. Ginsenosides has been identified as the principal active ingredient of the plant and its concentration is highest in the leaf, followed by berry and then roots. Besides, the profile of ginsenosides with six main ginsenosides isolated from root berry and leaf is also different. Thus it has been speculated that the relative proportions of the some of these ginsenosides determines the hypoglycemic efficiency of ginseng extracts (Xie et al., 2005). Thus hypoglycemic effect of ginseng extracts has been well documented and supported by experimental evidences. The aim of this paper is to demonstrate the effect of ginseng on blood sugar levels in diabetic patients. METHOD PARTICIPANTS 5 subjects with type 2 diabetes mellitus with mean values of age, BMI and weight being 62, 29kg/m2 and 81Kf were selected after informing them about the procedure and probable results of the experiment and obtaining their written consent. It was ensured that the Diabetes patients were reasonably controlled and were on a treatment procedure involving the drugs sulfonylurea, and a combination of sulfonylurea and metformin; which was continued during the period of experiment. Each of the participants was provided with instruction booklet to ensure that the other conditions are maintained uniform during the course of the experiment. TREATMENT The patients were given two categories of treatments; one gelatin capsule with 3g ginseng given either 40 minutes before a glucose intake of 25g of 300ml glucose or simultaneous with same concentration of glucose; both taken orally. The control treatment involved identical administration of all ingredients as in treatment group except ginseng being replaced by a placebo capsule containing corn sugar instead of ginseng. Four treatments, two tests and two controls were given to each participant in random order. PROCEDURE Maintaining every other condition of diet, activity and medication constant, participants were administered the above doses at intervals of 1 week after 10-12 hours of fasting in the morning. Each test was preceded with regular check up and complete dose of routine