Criminals and Society The Battle Between Reintegration...

Criminals and Society: The Battle Between Reintegration and Recidivism ABSTRACT: This research paper is focused on released convicts and the struggles they face to become active, progressive members of society. Sadly, these released offenders regularly face discrimination in their job searches, in attempts to secure housing for themselves and their families, and to be accepted by their communities. Without the right support structures in place upon their release, these former prisoners may very well fall back into lives of crime. Without a suitable place to stay, these released offenders may become recidivists, falling back into their familiar roles as law breakers, if only to provide the basic necessities for themselves and their†¦show more content†¦Economic discrimination looks at the difficulties inherent in a released offender’s job and housing search (for those not living with family in an established home) and how discrimination by possible employers and landlords can push released offenders towards crime again. Social separation restr iction looks at how the acceptance or rejection by social groups related to released offenders (both group affiliations prior to incarceration and the groups they need to attach to upon release) can make or break their attempts at reintegration. Lastly, failing re-entry programs deals with the government and community-run programs that would help prepare released offenders with reinserting themselves into society. It also looks at how the focus of these programs can decide their efficiency in reducing recidivism rates. Economic Discrimination A released offender’s path to reintegration, away from crime and repeated trips to prison is based heavily on their ability to enter the work force. The better the pay and the quicker they find a job, the less likely they are to fall prey to recidivism. The chances that a released offender will become a recidivist has been shown to vary inversely with the initial length of time itShow MoreRelated Criminals and Society: The Battle Between Reintegration and Recidivism3262 Words   |  14 PagesABSTRACT: This research paper is focused on released convicts and the struggles they face to become active, progressive members of society. Sadly, these released offenders regularly face discrimination in their job searches, in attempts to secure housing for themselves and their families, and to be accepted by their communities. Without the right support structures in place upon their release, these former prisoners may very well fall back into lives of crime. Without a suitable place toRead MoreEmployment Is the Key to Reducing Recidivism Essay1977 Words   |  8 PagesEmployment is the key to reducing recidivism Derrick G. Patrick COM/150 November 09, 2012 Dr. David Willis Employment is the Key to reducing recidivism Individuals returning from incarceration each year live in virtually every zip code in the country. Most ex-offenders have every intention of becoming productive, tax paying citizens, and no intention of returning to the penal system. However ex-offenders are largely on their own when returning to our communities. They areRead MorePrison Reform Topic Paper : Prisons6604 Words   |  27 Pagesmay seek deterrence, incapacitation, or retribution to avoid appearing too soft on criminals (Zyl Smit, 2010; Rossum, 2003). On the other hand, the regulations of the prison system may seek to opportunities to resocialize prisoners or to effect changes in the character, attitudes, or behavior of the convicted offender (Zyl Smit, 2010; Harvard Law Review, 2010). Which approach is the most effective for a society that decides to punish? What do we do about those who commit crimes? This questionsRead MoreThe Impacts of Child Sexual Abuse3738 Words   |  15 Pagescommonness of child sexual abuse changes by age, sex, and family budgetary status. Although NCANDS uncovered 8.8% of all abuse victims were sexually misused, the percent for kids aged four to seven was 8.2%. It increased to 16.5% for youngsters aged between twelve and fifteen (Bagley King, 2010). Authors of the National Incidence Study inferred that children are defenseless to sexual misuse from age three on although sexual abuse to babies also happens. Information from this study also uncovered that

Essay on Breast Cancer - 847 Words

Breast Cancer Chromosome 17 and BRCA1 Among the most common diseases affecting the female population, breast cancer develops in one of every eight American women. This means that almost 200,000 women suffer from the disease each year. Doctors would advise women to take necessary precautions, such as routine surveillance, in order to ensure a life without obtaining this disease prior to understanding any genetic linkage of breast cancer. Although many external factors contribute to breast cancer, current investigations reveal that five to ten percent of these cases may be attributed to genetic inheritance (Lynch, 1999). This knowledge, an ingenious finding by Mary-Claire King in 1990, linked breast cancer to the long-arm of†¦show more content†¦al., 1999). Various methods of positional cloning have been used to detect mutations of BRCA1, but originally the gene was isolated using single-strand conformation polymorphism (SSCP) and direct sequencing. During 1994, when the gene was first discovered, SSCP was done us ing both genomic DNA and cDNA from lymphoblast RNA (Friedman, et. al, 1994). SSCP analysis detected each variant and sequenced it on several templates. Results from this experiment helped prove the involvement of BRCA1 to breast cancer development. Other studies have used Southern Blotting techniques and other Polymerase Chain Reaction (PCR) methods in order to further analyze BRCA1. BRCA1 encodes a protein that is approximately 1865 amino acids in length, which is a tumor suppressor, a protein that acts as a negative regulator of tumor growth (Miki et. al., 1994). Loss of function is due to premature termination of protein synthesis. Because predisposition is a dominant genetic trait, a single copy of the mutant allele is enough to increase risks of breast tumors proving that a functional BRCA1 is needed in order for normal breast tissue (Miki et. al., 1994). This protein is expressed in the epithelial cells of mammary glands and other tissues, and the protein acts to inhibit cell division. Because BRCA1 is a tumor suppressor gene, any mutation leads to breast tumor formation. Once the two genes, BRCA1 and BrCA2Show MoreRelatedBreast Cancer And Cancer Prevention2347 Words   |  10 Pages INTRODUCTION Statistics indicate that breast cancer-related complications are among the top causes of death among women for over 23% of all women’s deaths in the world (Donepudi et al., 2014). The great cases of breast cancer are attributed to lack of information on and hard data on the disease, especially on early diagnosis and treatment options. In America, breast cancer is among the top causes of cancer-related deaths, and the mortality rate is relatively high as compared to the neighboring countriesRead MoreThe For Breast Cancer Action1612 Words   |  7 Pagesintention to give some part of the profit towards breast cancer causes. Ironically, the money made from this marketing will often not significantly benefit somebody with breast cancer. The pink ribbon was originally created by the Susan G Komen foundation yet anybody can use this symbol, because there is no intellectual copyright on it. Pinkwashing is term was first coined by the organization called breast cancer action, whose m ission is to â€Å"Breast Cancer Action’s mission is to achieve health justiceRead MoreBreast Cancer : Cancer And Cancer Essay1433 Words   |  6 PagesBreast cancer is a carcinoma that develops due to malignant cells in the breast tissue. Cancerous cells are more likely to produce in the milk-producing ducts and the glands, ductal carcinoma, but in rare cases, breast cancer can develop in the stromal, fatty, tissues or surrounding lymph nodes, especially in the underarm (Breast Cancer). For women, breast cancer is the most commonly diagnosed cancer and the 2nd leading cause of cancer death – behind skin cancer. While treatment or surgeries canRead MoreBreast Cancer : Cancer And Cancer1346 Words   |  6 Pagesinternational symbol for breast cancer support and awareness. Breast cancer knows neither racial boundaries nor age restrictions. Females of all ages and ethnicities can develop breast cancer and it is the leading most common cancer among women. Calling at tention to this often fatal disease is important by supporting its victims, families and friends of victims, as well as raising funds for breast cancer research. Though males are not immune from developing a breast cancer, for the purposes of thisRead MoreBreast Cancer : Cancer And Cancer946 Words   |  4 PagesSkylar Steinman Period 6 Ms. Jobsz 12 February , 2016 Breast Cancer It is commonly known that Breast Cancer is one of the most insidious diseases that mankind has had to deal with. With the discovery of the BRCA1( BReast Cancer gene one) and BRCA2 (BReast Cancer gene two) genes, breast cancer can be detected with a great amount of certainty on a genetic level in some women and men. 40,000 women and men die of breast cancer each year. Knowing this it is very important to try to detect the mutationRead MoreBreast Cancer : Cancer And Cancer1530 Words   |  7 Pagesâ€Å"Cancer† is the name for a group of diseases that start in the body at the cellular level. Even though there are many different kinds of cancer, they all begin with abnormal cell growth with the potential to invade or spread to other parts of the body. These abnormal cells lump together to form a mass of tissue or â€Å"malignant tumor†. Malignant means that it can spread to other parts of the body or Metastasize . If the breast is the original location of the cancer gr owth or malignant tumor, the tumorRead MoreBreast Cancer : Cancer And Cancer Essay1741 Words   |  7 Pages Internationally, breast cancer is the most commonly diagnosed cancer and the leading cause of cancer related death amongst women. (CITE) Each year an estimated 1.7 million new cases are diagnosed worldwide, and more than 500,000 women will die of the disease. (CITE) According to (CITE), somewhere in the world one woman is diagnosed with breast cancer every 19 seconds and more than three women die of breast cancer every five minutes worldwide. (CITE) Breast cancer is a heterogeneous condition thatRead MoreBreast Cancer : Cancer And Cancer1372 Words   |  6 PagesBreast Cancer Disease Overview Breast cancer is a disease in which certain cells in the breast become abnormal and multiply uncontrollably to form a tumor. Breast cancer is the second most commonly diagnosed cancer in women. (Only skin cancer is more common.) About one in eight women in the United States will develop invasive breast cancer in her lifetime. Researchers estimate that more than 230,000 new cases of invasive breast cancer will be diagnosed in U.S. women in 2015. Cancers occur when aRead MoreBreast Cancer : Cancer And Cancer1471 Words   |  6 PagesBreast cancer Introduction to Breast cancer Breast cancer is one of the most common forms of cancer only surpassed by lung cancer. It involves a cancerous tumour located inside the breast but spreads if treatment is not administered. (Evert et al 2011) Breast cancer can be treated if diagnosed in its early stages but becomes progressively more difficult upon reaching more advancing malignant stages. Breast cancer can be confused with being a female only disease however both sexes suffer. AccordingRead MoreBreast Cancer : Cancer And Cancer1921 Words   |  8 PagesIntroduction Cancer is a term that every individual on this planet wants to avoid hearing when they go to their yearly check up at the doctors. However, as person ages, they are prone to develop some sort of sickness and most of the time, they could develop cancer of some sort. For this research paper, I am going to go over breast cancer. Breast cancer is a well-known type of cancer with awareness events going on to support both women and men who has breast cancer. According to American Cancer Society

Microbiology Chapter 1 Study Guide Free Essays

Chapter 1 Notes * Robert Hooke * Discovered Cellulae (Cells) * Formed Basis of Cell Theory * 1. Cell basic unit of life * 2. All living organisms are made of cells * 3. We will write a custom essay sample on Microbiology Chapter 1 Study Guide or any similar topic only for you Order Now Must have living cells to make more cells * Anton Von Leeuwenhoek * Father microbiology microscopy * Discovered microorganisms (animalcules) * Disproved microorganisms were heaven sent * Put clean bowl out during rainstorm no microorganism * Let sit * Days later microorganisms formed from air * Ferdinand Cohn Discovered endospores (enable some bacteria to survive adverse environmental conditions) * Why growth occurred in experiments that disproved/proved SG * Louis Pasteur * Definitive experiment that disproved SG * Fermentation * Pasteurization: heat liquid to temp. that kills the most heat resistant pathogen but NOT all (milk) * Vaccination against Rabies (Rhabdovirus), anthrax (bacillusanthracis), Chicken Cholera (bacterium) * Silkworm industry * Disease (protozoan) was killing silk moths * Developed a method to detect diseased moths and separate * Lady Mary Montagu * Wife British Ambassador to Turkey * Developed Smallpox Observed Turkish women engrafting * Spread mild small po x to other by injecting into their veins * Patient would then be immune to smallpox * Reject because she was woman not doctor/scientist * Carl Linnaeus * Developed science of taxonomy * Scientific Nomenclature * Binomial nomenclature * Process of giving all organisms 2 scientific names * Genus species * Edward Jenner * Discovered process of vaccination * Worked with cowpox milkmaids * Milk cowpox scrap pustal scratch skin w/ needle develop mild cowpox immune to smallpox * John Snow * First epidemiologist Traced Cholera epidemic to common H2O pump that was contaminated * Ignaz Semmelweis * Puerperal Fever (child bed fever) major cause of mortality to mothers and infants * Death in midwife ward = low ; death in doctor/med student ward = high * Doctors/med students contact w/ cadavers that previously died from disease * Spread disease to living mothers * Required hand washing with chlorite of lime * Joseph Lister * Concerned with incidence of infection and mortality from surgery * As eptic Surgery = used carbolic acid (phenol) on incision site, instruments, and bandages * John Tyndall Boiling was not sufficient to sterilize broths and agar * Tyndallization Process: * Liquid is heated to boiling (100Â °C) allowed to sit and cool for 24hours * Liquid is reheated to boiling (100Â °C) and then allow to cool and sit for another 24 hours * Repeat * Robert Koch * Developed concept of causative agent of disease (MO cause disease) * Germ Theory of Disease – developed many microbiological techniques, media and procedures * Tuberculin – thought founded vaccine (incorrect) .. use as first step to determine if person has TB * Fanny Hesse * Worked for Robert Koch Used Agar to convert liquid brother to slid medium * Koch’s Postulates (Identifying which bacteria causes which disease) * MO must be present in every case of the disease. Every host must have the same signs and symptoms of the disease * Isolate the microorganism and grow it in pure culture out side the host * Pure culture must be inoculated into a healthy susceptible host. Experimentally infected host must exhibit the same signs and symptoms of the disease * The Microorganism must be reisolated from the experimentally infected host and shown to be identical to the original MO * Paul Ehrlich Concept chemotherapy * Syphilis – Treponema palladium * Compound 606-Salvarsan (Arsenic containing compound) * Alexander Fleming * Accidently discovered antibiotics * Antibiotics = naturally produced compounds that inhibit the growth of other MOs * Working with Staphylococcus aureus (opportunistic pathogen- must be proper conditions to cause infection) * Most antibiotics produced by bacteria, followed by fungi * Martinus Beijerinck * Concept of Viruses * Soil microorganisms-isolated the first soil MOs * Sergei Winogradsky * Sulfur metabolism by microorganisms * Concept of nitrogen fixation * Biochemical cycles Symbiotic relationships * Barbara McClintock * Transposons – c ause Maize (jumping genes- genes move themselves and create different color kernals) * James Watson, Francis Crick, Rosalind Franklin and Maurice Wilkins * Structure of DNA * Molecular biology and genetics * Thomas Brock * Thermophilic microorganisms (high temperature loving microorganisms) * Thermus and Sulfolobus * Lynn Margulis * Endosymbiont Theory * Big prokaryotic cell engulfs little prokaryotic cell * Little survives insides but loses many functions (energy conversion, protein synthesis) * Little becomes mitochondria or chloroplast Eukaryotic Cell evolved * Carl B. Woese * Molecular systematic based on 16sRNA * Improved ability to identify MO * Stanley Prusinier * Discovered Prions * Protenaous Infectious Particles * Luc Montagnier * Discovered human immunodeficiency virus * Barry Marshall and Robin Warren * Causative agent of gastric peptic ulcers * MO colonize in stomach * Disbelieved b. c stomach is so acidic and has enzymes * Antibiotics cure ulcers * Demonstrated effect pharmaceutical industry practice of gastroenterology against 2 men How to cite Microbiology Chapter 1 Study Guide, Essay examples

Study On Legal Protection Of Stakeholders -Myassignmenthelp.Com

Question: Discuss About The Study On Legal Protection Of Stakeholders? Answer: Introduction Until 2016 Dick Smith Holdings Limited was a top name in the electronic components, electronic goods, and electronic project kits market in Australia. The company had a wide chain of retail stores that used to sell these electronic products to the consumers. Dick Smith founded the company in the year 1968 in Sydney with him and his wife as the owners of the company; however, in the year 1982 Woolworths Limited acquired the company. In the year 2016, the company was dissolved by creditors liquidation process. It is shocking to imagine that a company of $520 Million in valuation could fall so dramatically with in a period of three years, i.e. from 2013 to 2015. The dramatic fall of the company was due to the evens that occur during this period of three years that ultimately resulted in the dissolution of the company by creditors liquidation process in the year 2016. Analyzing and assessing the reasons of this dramatic collapse of one of the brightest companies in Australian Stock Exchange is the main objective of this document (Bill 2016). Though it seems that the ending story of Dick Smith Company has been written during these three year period from 2013 to 2015 however, it was nearly a half century ago that it was almost predestined that the company will end up in liquidation process which materialized at the beginning of 2016. In early January 2016 the companys banks called in the administrator to bring an end to the corporate veil of the company. The brief time that the company was lis ted in ASX and the prosperity of the company even shorter period was only an illusion. Background The period in which the company was in the hands of Woolworths Limited since it was acquired the company in the year 1982. During that period even when Woolworths was performing excellently, the company never mentioned its acquired company, i.e. Dick Smith as a well performer that should have made the investors as well as other stakeholders more aware of the probable fate of the company. In the year, 2012 Woolworths Limited took the company off its hands by transferring the company to Anchorage Capital. Anchorage Capital brought the company at a price of $115 Million in the year 2012, the company i.e. Dick Smith had no cash in hand at that time. A year later the company was floated with a valuation of $520 Million is a clear indication that the valuation was a faux and there was significant manipulation in accounting records to come up with that valuation (Giacalone and Rosenfeld 2013). Prospect of Fundraising In the year 2013, the company in its prospectus for fund raising asked its investors to invest in the business to earn substantial amount of return on their investments by showing the valuation of the company at $520 Million. As already mentioned there was significant manipulation to the accounts of the company to show such enormous valuation of a company which Anchorage Capital was bringing at a price of $115 Million with little cash in its hand. The window dressing of financial statements though helped the company initially but finally it the lack luster performance of the company caught up with it thus, resulted in subsequent dissolution of the company. Manipulation of accounts and Accounting policy The income statements of the company is analyzed for the last few years to assess how the accounts have been manipulated by the management to suppress the deteriorating operating and financial condition of the company over the last five years. According to the financial statements of the company sales in the year 2012 was $1369.5 Million which is far outstretched than the actual sales. The Profit after tax of the company in the year 2012 of $13.2 Million again an aberration of its actual performance. As a result of the manipulation of accounting records the financial statements showed a way better picture of the company than the actual position of the company. Due to the window dressing of the companys financial performance and position the company continued payment of dividend to its shareholders which further deteriorated the financial position of the company. The trend of manipulation of accounts continued as the 2013 results though showed a reduced amount of profit after tax at $ 6.7 Million, it was still way more than the actual profit of the company (Speelman et al. 2014). The manipulation of the accounts by charging depreciation at lower rates than should have been charged, by not providing for expenses which needed to be provided, by inflating sales, and suppressing the expenditures the management showed a better picture of the company than the reality. The manipulation of the accounts of the company could have easily been detected had the auditors been more cautious and careful in discharging their duties and responsibilities in accordance with the professional code of conduct and ethics to which they are subjected to. The sales figure of the company showed an increase as per the income statement of the company in the year 2014 with $1227.60 Million and the astonishing fact was the after tax profit of the company which according to the income statement of the company was $42.10 Million, highest in the last five years. A careful study of the financial st atement would have made it clear that unlike other years the company had charged much less amount of depreciation in its books. The sudden change in charge of depreciation along with reduction in the amount of provisions made for different expenditures as compare to the amount of provisions made by the company in earlier years are clear indications of manipulations of accounts. The sales figures were inflated to show better operating results of the company than the actual performances of the company in these years. In fact just the year before the company went into creditors liquidation, i.e. in the year 2015 the company according to its financial statements showed an after tax profit of $43.40 Million which is the highest amount of after tax profit that the company has posted in last 10 years of its operations (Creasey et al. 2016). Considering that the company went into compulsory liquidation process as a result of petition of its banks it is amply clear that these sales figures a s well as the consequent after tax profit figures all are inflated to show a better financial position of the company than the actual financial position of the company. In 2016 after continuous failure on the part of Dick Smith Holdings Limited to fulfill its commitments towards the banks the company went into a creditors liquidation process. This clearly shows the lack of transparency in financial reporting and accounting process. Corporate Governance and transparency in financial reporting The responsibility of the management of an organization is to not only manage the financial and operational activities of the organization but at the same time to give necessary importance to the corporate governance aspects of an organization. Corporate governance is the accumulation of different processes, systems and methods used by the management to direct and control the operations of an organization to achieve its objectives. The company had huge chain of retail stores however, the way it operated its retail chains across the country it left lot to be desired. The management in these retail stores of the company across different parts of the country did not had any standard set of operational rules and regulations. Thus, the management of different retail stores used different corporate practices to run business operations (Finkler et al. 2016). This played a crucial role in the outcome of the companys failure. It is important for any organization to have a standard set of corp orate governance rules and regulations that are to be followed by its employees and workers to help the organization in its endeavor to achieve its desired objectives. As a result of lack of corporate governance rules and regulations in the retail stores the company failed to make optimum utilization of its resources which contributed to the ultimate dissolution of the company (Cui ey al. 2016). The financial reporting of the company is another aspect of its functioning whether the transparency was quite low. In fact, a look at the financial statements over the last decade until its ultimate dissolution will make it clear that the management has changes its accounting policies and principles quite frequently. The changes in the method of charging depreciation on fixed assets to reduce the charge of depreciation in the last few years of its business operations was a clear effort on the part of the company to portray a better financial and operating position of the company than the actual reality. The company has also not followed the international financial reporting standards in order to prepare and present the financial statements of the company rather it has only followed the domestic mandatory standards to prepare its financial statements. Thus, the lack of transparency in financial reporting of the company has always been an issue with the stakeholders of the company. Th e fact that the company-undergone changes in the ownership structure because of firstly being sold to Woolworths Limited in 1982 than again to another company in the year 2012 have also not helped the matter. Because of the changes in ownership the financial reporting processes has also undergone significant changes that have only further reduced the transparency in financial reporting process (McKinney 2015). Appointment of administrator, receiver, and liquidator Since its listing in the ASX in December 2013 the company lost more than 80% of its initial, listing prices of its shares as of January 04, 2016. This compelled the management to request for halt in trading of its shares. However, the very next day, i.e. on 5th of January, 2016 National Australia Bank and HSBC Bank of Australia, two of the major creditors of the company, placed it into administration as a result of continuous failure on the part of the company to fulfill its commitment towards them in respect of the loan and borrowings (Cox and Hazen 2016). The board of the company appointed McGrath Nicole as administrators whereas the creditors, i.e. the two banks mentioned above, appointed Ferrier Hodgson as the same. Subsequent to this event on January 12 the Chief Executive Officer of the company, Mr. Nick Abboud stepped down from his post in the company. However, on 25th February, 2016 Ferrier Hodgson announced that they have failed to secure buyer / buyers for the company and t hus, have decided to close down the 363 DSE stores in different parts of Australia and New Zealand. As result of this decision, almost 2500 jobs were lost, these are the workers working in these stores. However, the online business of Dick Smith in Australia and New Zealand along with the trademark of the company was purchased by the Ruslan Kogans founded Kogan.com; though the liquidators and the receivers of Dick Smith did not disclose the amount paid by Kogan to acquire the online business and the trademark of the company. The creditors of the company according to the reports have suffered a loss to the tune of Australian $260 Million because of the liquidation of the company. The final settlement with the creditors of the company was made on 25th of July 2016 with whatever left of the company as on that date after the completion of the liquidation process. However, no proper account of liquidation process was published but the unsubstantiated report suggested that the creditors o f the company suffered a huge loss because of the liquidation of the company (DeTienne and Wennberg 2013). Position of creditors re receivership and liquidation The position of the creditors of the company is very difficult to express in words. According to the reports they have suffered losses of paramount proportion as a result of the complete failure of the company. The two major creditors of the company, i.e. the National Bank of Australia and HSBC Bank of Australia, who have put the company into administrations suffered huge losses too along with other creditors (Nowicki 2015). The total loss to the creditors as a result of the liquidation and subsequent dissolution of the company was well above Australian $250 Million and the two banks were the major creditors to lose huge amount of funds in the process. However, there was no other option left to these creditors as the company failed repeatedly to fulfil its commitment of repayment of loans and borrowings on time. The major reason for the inability of the administrators and receivers to not been able to realize the assets of the company was the lack of interests on the part of the buye rs to acquire the company. Thus, the liquidators were compelled to close down the 363 DES stores in Australia and New Zealand which if, could have been sold by the receivers would have helped them to realize substantial amount of profit to repay the part of debt to the creditors of the company. Thus, the position of the creditors of Dick Smith Holdings Limited was financially very fallible as they lost huge amount of funds as a result of the failure of Dick Smith and its subsequent dissolution. Directors Duty The directors of the company have certainly failed to fulfill their responsibilities towards the company which culminated to the final dissolution of the company. However, the worst fact was the involvement of some directors in insolvent trading which is not acceptable and is a punishable offence under the Corporations Act, 2001. The role of the directors of Dick Smith Holdings Limited in insolvent trading should have been investigated and if found guilty of such offence the guilty directors shall accordingly be punished. The directors found guilty of insolvent trading shall be personally liable to the creditors and other partiers in respect of the new debt incurred after the insolvency of the company. Thus, the directors of Dick Smith will be personally liable to make good the debts incurred by the company after the company has become insolvent (Brigham and Ehrhardt 2013). Conclusion: Based on the above discussion it is clear that the management of an organization has a huge role in the progressive development of such organization. Thus, the management should discharge its duties carefully to ensure that an organization is in the right path of achieving its objectives. The failure of Dick Smith is reminder to all of us the consequence of irresponsible behavior on the part of the management of an organization. References: Bill, A., 2016. From the Managing Partner.Newsletter. Giacalone, R.A. and Rosenfeld, P. eds., 2013.Impression management in the organization. Psychology Press. Speelman, E.N., Groot, J.C.J., Garca-Barrios, L.E., Kok, K., Van Keulen, H. and Tittonell, P., 2014. From coping to adaptation to economic and institutional changetrajectories of change in land-use management and social organization in a Biosphere Reserve community, Mexico.Land Use Policy,41, pp.31-44. Creasey, T., Jamieson, D.W., Rothwell, W.J. and Severini, G., 2016. Exploring the relationship between organization development and change management.Practicing Organization Development: Leading Transformation and Change, Fourth Edition, pp.330-337. Finkler, S.A., Smith, D.L., Calabrese, T.D. and Purtell, R.M., 2016.Financial management for public, health, and not-for-profit organizations. CQ Press. Brigham, E.F. and Ehrhardt, M.C., 2013.Financial management: Theory practice. Cengage Learning. Nowicki, M., 2015.Introduction to the financial management of healthcare organizations. Health Administration Press. McKinney, J.B., 2015.Effective financial management in public and nonprofit agencies. ABC-CLIO. Cui, X., Peng, S. and Zhou, W., 2016. Study on Legal Protection of Stakeholders After the Malicious Dissolution of the Company.Management Engineering, (23), p.141. DeTienne, D.R. and Wennberg, K., 2013. Small business exit: Review of past research, theoretical considerations and suggestions for future research. Cox, J. and Hazen, T., 2016.Business organizations law. West Academic.

Quality Assurance Project

Background to the Study Many countries across the world are currently very sensitive about the quality of products that are made available within their borders. The Kingdom of Saudi Arabia is no exceptional. Through the Ministry of Commerce and Industry, the government has kept a close watch on the quality of products offered to customers in order to ensure that citizens are protected from substandard products in the market.Advertising We will write a custom report sample on Quality Assurance Project specifically for you for only $16.05 $11/page Learn More Environmental advocates and agencies are keen to monitor activities of various companies operating within this country in a bid to ensure that the environment is kept free from pollution. Through this ministry and other related ministries, organizations must satisfy the set standards before they can be allowed to start their operational activities. They must conform to the International Standards speci fications and other safety standards set by various organs in the country. Based on this, many organizations in Saudi Arabia have found it relevant to maintain quality in the process of production and the final products delivered to the market. Introduction The term quality refers to inherent characteristic of a given item that makes it unique from others. Quality assurance refers to systematic evaluation and monitoring of a product, a project or facility to ensure that it conforms to the set standards. International Organization for Standardization, ISO, (1994) defines quality assurance as all planned and systematic activities implemented to provide adequate confidence that an entity will fulfill requirements for quality. The operational techniques and activities that are used to fulfill requirements for quality are referred to as quality management. Quality assurance is a process that is useful in production process as it ensures that the final product meets market requirement. Qu ality management is a comprehensive process that begins with regulation of raw materials, processing facilities and other processes related to production, and the final product. For a new firm that is about to start operations, quality assurance is a very important requirement that should be fulfilled in order to get government approval before operations. The organization must meet legal requirements put in place by government agencies in order to have necessary certification to start conducting business in the country. According to the Law of Commercial Register 6: 2007, any new firm that intends to operate in Saudi Arabia must meet the rules and regulations set by the Ministry of Commerce and Industry. They include the laws relating to health, product specification and standardizations, pricing laws, environmental protection laws, tax compliance laws and consumer protection laws.Advertising Looking for report on business economics? Let's see if we can help you! Get your firs t paper with 15% OFF Learn More A firm must have a detailed approach to quality management in order to be allowed to operate within the country. A new organization must make a concerted effort to ensure that such laws and regulations are fulfilled. The management should embrace the culture of quality management in order to be competitive in the market and meet the standards set by the government so that the firm may manage competition that is in the market. Quality Management and Quality Assurance System that would be appropriate for particular business unit is discussed below. Quality Management and quality Assurance System Quality assurance and control system puts into consideration factors such as time available for its implementation, resources allocated to it, availability of relevant data, legal requirements put in place by the government, technological advancement in the industry, skilled labor available to implement proposed projects among other requirements. Qualit y assurance and quality control are related to inventories. The main concern is to produce quality products using relevant raw materials in a manner that would be environmentally sensitive. The law limits the level of emission of toxic substances and effluents by any company. This is aimed at conserving the environment. For this reason therefore, companies must make an effort to ensure that facilities that are installed are in good operational shape. Emissions should be controlled and there should be a sewerage system that facilitates treatment of effluents before they are released to the environment. The system should be linked to other sewerage systems whereby their flow is controlled and directed to the government-designated location. The combustion chambers should be fitted with scrapers in order to control smoke that is released to the environment. The scrapers should be replaced regularly as a preventive measure to environmental pollution. The law also demands the safety and s ecurity of employees while at workplace. Employees assigned to production departments that are prone to smokes or other gaseous emissions should be provided with gas masks to ensure that they do not inhale poisonous gases. Other measures should also be considered to facilitate the wellbeing employees. With employee’s safety and environmental concerns, the focus then turns to quality of the product.Advertising We will write a custom report sample on Quality Assurance Project specifically for you for only $16.05 $11/page Learn More International Standards Organization has set standards that are to be met by all products and production processes. Standards must be accepted in the society. International Standards Organization 9001 stipulates among other factors that the quality of the workforce available in production of goods should be perceived to be of the right standard. According to this certification, there is standard a number of trained perso nnel that should be available in each department of production. The trained personnel would be in charge of supervision and other tasks within production department while other duties such as packaging and delivery would be left to the semi-trained personnel. As Goatish (1995) says, quality starts and ends in the mind. There should be a spirit of quality inculcated in the minds of personnel. These individuals would determine the quality of output. They should appreciate the importance of producing quality products. The organizational tools and equipments should also be standardized. Back-up power system should be made available to avoid disruption of production. Raw materials used in the production process should be of the right standard and should conform to the requirements of the law. Production department should ensure that only acceptable ingredients are included in the products in order to avoid litigation that may ensue due to none conformity. The law demands that all ingredi ents that are used in a given product are clearly labeled during packaging in order not to confuse customers. This should be done on all products manufactured in the company. In order to match market competition, the company must put into consideration quality assurance and management devices employed by competing firms. Attention should particularly be given to the level of mechanization employed by other industry players. In order to have a consistent market growth, the company should be in a position to convince customers that its products are of higher quality compared to products of other competing firms (Joherim, 2008). The First Stage The first stage is related to customer focus. The diagram below gives a breakdown of the process. Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The first step in this stage is to internalize the requirements of the customers and regulators. The management then takes a premeditated step to design quality management system in order to realize expectations in the second step. This demands attention from all departments in the organization as it strives to respond to the needs of customers and regulators. If done appropriately, customers and regulators would be satisfied. Second Stage The second face emphasizes on policies and regulatory procedures in the process of production. There should be quality planning so that the final product would have a graded quality. This stage tries to implement regulatory laws that the authorities have enacted to govern the industry. They are concerned with protection of employees, consumers and the environment. Employees should be protected from hazardous working environment and other work related perils. Consumers need protection from substandard products, misinformation and unfair pricing str ategies. The environment should be protected from pollution and other activities that may lead to its degradation. This stage stresses on the quality of production system. The company should comply by maintaining these standards. Third Stage This stage lays emphasis on functionality of the departments, plant procedures and production processes. It demands that concerned managers in each department understand the company’s overall quality objectives. They have to impart the same skills on various units in their departments. It is important that these managers understand market expectation so that they can appreciate the need for the process of quality control. Challenges in the Implementation Process The main challenge in the implementation process is the availability of finances to implement the project. Because this is a new company, it may not be in a position to finance various operational units that may be needed for successful implementation of the project. The level of expertise may also be limited as the company may not be in a position to attract the best labor force available in the industry. Competitors may not make things easy, as they will develop counter programs in an attempt to maintain their market share. The current employees may also fail to meet professional qualifications that the project requires. They may be lacking required flexibility and the drive to implement the project. Conclusion Quality management has gained relevance over the recent past. Many organizations have embarked on ensuring that their products and production processes are responsive to market expectations and to the demands of regulatory bodies. For a new firm to venture into the Saudi market and operate successfully, it is important that it develop quality assurance project that would convince the public and the government regulatory authorities that their products would meet expected standards and are environmentally friendly. The Kingdom of Saudi Arabia has reg ulatory procedures that need to be followed. Recommendations The company should set aside substantial finances during its budgeting process to cover for the expenses of quality assurance and management project. Because this is a new business unit that is yet to be approved by the government, the cost may be a little higher. The quality assurance team must be in a position to convince the government that the set rules and regulations would be adhered to. The business unit should also make an effort to attract individuals who have skills necessary in the implementation process. The ratio of employees with right skills and experiences to that of inexperienced labor force should be about one to one. This would ensure that those with little or no experience take the shortest time to familiarize themselves with new policies. Their remuneration and other packages should also be attractive enough to motivate them. In order to beat market competition, the management should ensure that strate gies are not exposed to competitors. References Goatish, L., Stanley, D. (1995). Implementing Total Quality. Upper Saddle River, N.J: Prentice-Hall. ISO, (1994). Air Quality, Determination of Performance Characteristics of Measurement Methods. Geneva: International Organization for Standardization. Joherim, M. (2008). Quality Assurance and Quality Control. New York: McMillan Publishers. This report on Quality Assurance Project was written and submitted by user Kane Mendoza to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Leonardo da Vinci Quotes From the Inventor and Artist

Leonardo da Vinci Quotes From the Inventor and Artist Leonardo da Vinci (1452-1519) was a respected and honored genius of the Renaissance era, and an Italian painter and inventor. His observations of the world around him were well-documented in his numerous sketchbooks, which  still impress us to this day for both their artistic and scientific brilliance. As a painter, Leonardo is best known for The Last Supper (1495) and Mona Lisa (1503). As an inventor, Leonardo was fascinated by the promise of mechanical flight and designed flying machines that were centuries ahead of their time. On Flight For once you have tasted flight you will walk the earth with your eyes turned skywards, for there you have been and there you will long to return. Motivation It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do.Men of lofty genius when they are doing the least work are most active.As every divided kingdom falls, so every mind divided between many studies confounds and saps itself.Learning never exhausts the mind.I have wasted my hours.All sciences are vain and full of errors that are not born of experience, the mother of all knowledge.The acquisition of knowledge is always of use to the intellect, because it may thus drive out useless things and retain the good. For nothing can be loved or hated unless it is first known.Iron rusts from disuse; stagnant water loses its purity and in cold weather becomes frozen; even so does inaction sap the vigor of the mind. So we must stretch ourselves to the very limits of human p ossibility. Anything less is a sin against both God and man. Engineering Invention Human subtlety will never devise an invention more beautiful, more simple or more direct than does nature because in her inventions nothing is lacking, and nothing is superfluous.The human foot is a masterpiece of engineering and a work of art.Although nature commences with reason and ends in experience, it is necessary for us to do the opposite, that is to commence with experience and from this to proceed to investigate the reason.Every now and then go away, have a little relaxation, for when you come back to your work your judgment will be surer. Go some distance away because then the work appears smaller and more of it can be taken in at a glance and a lack of harmony and proportion is more readily seen. Philosophy The truth of things is the chief nutriment of superior intellects.Just as courage imperils life, fear protects it.Nature never breaks her own laws.I love those who can smile in trouble, who can gather strength from distress, and grow brave by reflection. Tis the business of little minds to shrink, but they whose heart is firm, and whose conscience approves their conduct, will pursue their principles unto death.Study without desire spoils the memory, and it retains nothing that it takes in.Patience serves as a protection against wrongs as clothes do against cold. For if you put on more clothes as the cold increases, it will have no power to hurt you. So in like manner you must grow in patience when you meet with great wrongs, and they will then be powerless to vex your mind. Misattributions The following are common quotes attributed to  Leonardo da Vinci; however, he just did not say them. I have from an early age abjured the use of meat, and the time will come when men such as I will look upon the murder of animals as they now look upon the murder of men. Unfortunately these are not the words of Leonardo. They were written by Russian author Dmitry Sergeyevich Merezhkovsky (Russian, 1865-1941) in his historical fiction titled  The Romance of Leonardo da Vinci. Source:  Was Leonardo a Vegetarian? Life is pretty simple: You do some stuff. Most fails. Some works. You do more of what works. If it works big, others quickly copy it. Then you do something else. The trick is the doing something else. And that gem of a quote was made by  Tom Peters in his article  The Best Corporate Strategy?

Real World Application of OD Principles Essay Example | Topics and Well Written Essays - 750 words

Real World Application of OD Principles - Essay Example A young entrepreneur, like me, would see this as the best opportunity to grow operations in the town and strive to become the major employer following automotive support industry’s departure. This task would not be an easy one, as it involves turning around the company, giving it a three-sixty degree change to position it for business growth and success. Development and change does not only need to take place in one department but at an organizational level. For any  organizational  development to occur there must be a set of sound and clearly specified principles or guidelines. These principles perform the task of a compass  to  navigate  the course of an organizational developmental project, making use of the right  framework and bringing in to practice the perfect tools and technology.  In absence of these clearly defined strategic and operating principles, decisions and choices related to the organizational development framework, tool and technology will miss the desired target.  One will not be able to ensure the achievment of complete organisation development for sustainable efficient performance. There will be no guarantee of achieving  total organization  development for sustainable high performance. Instead, one will be relying on luck. (OD Synergy, 2008) However, in order to incorporate organizational development principles in our practice, it is imperative to understand what organization development is. Organization Development (OD) is an effort (1) planned, (2) organization-wide, and (3) managed from the top, to (4) increase organization effectiveness and health through (5) planned interventions in the organizations â€Å"processes,† using behavioral-science knowledge. (Richard Beckhard, 1969) OD holds the key of an organization’s long-term success. It is easy to make money in the short run; however, making an organization that sustains even in hard times is not an easy task. OD takes into consideration the i dea that if employees are given respect and importance, they will be more productive and organization as a whole would benefit. (Honorable Leadership, 2010) In order to capitalize on the given opportunity I, as CEO of Fortune Mart (chain of stores), need to efficiently apply Organization Development principles and guidelines and strategize accordingly. First and foremost it is vital to ensure that employees are given respect and everyone’s opinion is given importance. My next step towards this would be ‘Empowerment’ of my current human resource. This would primarily be done to provide job security to employees in order to counter the threats they would face from the prevailing rise in unemployment that might bring down their efficiency and productivity. Therefore in order to motivate them, OD intervention must empower the people so that they operate flawlessly for high performance. In the long run, this would result in a stable and loyal workforce. Third step wou ld be to create a ‘Vision and Mission’ to drive the organization further. The basic purpose behind written vision, mission and short term objectives is to make sure that the employees’ aims and objectives are aligned with those of the organizations. Apart from that, vision and mission give the outsiders a picture of what the company is and what it aspires to be in the future. The next step in

Agile Port System Essay Example | Topics and Well Written Essays - 500 words

Agile Port System - Essay Example Older ports have to get into alliances and partnerships to coordinate their activities and decrease unnecessary competition. These alliances can lead to the creation of satellite terminals instead of the presence of several redundant old ports. This can help reduce congestion of containers at deep-sea ports and free up space for high-cost facilities in such locations. Through alliances, there can be the better exchange of information, which reduces dwell-time and improves movement (Konings, Priemus and Nijkamp, 2015). Exchange of valuable information helps in security checks and value added logistics, and this is only achievable through partnerships for the common good of making profits. In relation to technology, fast and real-time data processing and sharing are essential for the expansion of infrastructure and superstructure. This is essential to facilitate tracking and tracing of shipments. For example, the Electronic Data Interchange information system can help in recording and sharing of information across ports. Efficient coordination between terminals and inland transportation operations is applicable if older ports adopt modern web applications and systems to facilitate the dynamics of terminal handling operations. In addition, older ports should improve gate operations technology to improve processing time in gate lanes. Construction of dedicated lanes is also essential to save time and improve functionality. In conclusion, several areas mentioned above require improvement to adapt an agile port system.

Ben Franklin Essay Example | Topics and Well Written Essays - 250 words

Ben Franklin - Essay Example 82). Franklin decided with these two sentences that he will respect other nation’s options but still the United States has its own conceptions to follow. Franklin also logically researched on a number of different thoughts on the diverse virtues, which he wanted to include locating the best description for his virtues list (Lauter et al. 82). "The Speech of Polly Baker," on the other hand, seems to be an optimistic and "amusing story". Nevertheless, Franklin presents a logical protest against a law, which punished females for out-of-wedlock sexual relations through whippings and imposing fines whereas the male of went without any penalty (Lauter et al. 94). Through the woman’s use of logical rhetorical questions to the judges, Franklin reveals the unfairness of the then U.S. justice system. Two examples include, â€Å"God has been pleased to add his divine Skill and admirable Workmanship in the Formation of their Bodies, and crown’d it by furnishing them with rational and immortal Souls?† and â€Å"You have already excluded me from all the Comforts of your Church Communion: Is not that sufficient† (Lauter et al.

How Does Corruption Effect International Development Politics Essay

How Does Corruption Effect International Development Politics Essay Corruption is omnipresent in society and is taking total control over the minds of citizens at an alarming rate. Even though actions are being taken worldwide, corruption is still a main issue of concern for world leaders and prestigious organizations like the United Nations and the Southern African Development Community. With reference to several surveys carried out by great economists, psychologists and watchdog bodies around the world, we have carried out this project to investigate how far corruption affects development and creates inequality in Mauritian society. However due to time and word constraints, we have preferred to focus on the Mauritian society. [Introduction] Corruption may be simply defined as The abuse of public or private office for personal gain (Prevention of Corruption Act 2002) or The abuse of authority for personal gain (Independent Commission Against Corruption, Hong Kong) Bribery, favoritism, helotism, extortion and embezzlement and use of influence are examples of acts of corruption. Corruption is omnipresent in the society. However, many people do not realize that corruption is having a great and deep impact on our Mauritian society. The gap between the rich and the poor is growing wider and wider with corruption and this is also hindering our economic progress. Corruption may thus be compared to a cancer which needs to be controlled at all cost before it spreads dangerously and threaten the very fabric of our democratic nation. As the saying goes, An ounce of prevention is worth a pound of cure, both public and private sectors in Mauritius or even worldwide should work together in the battle against corruption- a fight against corrupt individuals, practices and systems. This strategy will help to enhance good governance and transparency in the economical mechanisms throughout the world. Risks of bribery and extortion between the private and public sectors as well as private companies should be minimized. Each organization should establish its own anti-corruption policies and strategies; corruption-prevention checkups should be reinforced and systems improved. The help of foreign fraud specialists and consultants should definitely be solicited if positive results want to be seen. The Mauritian ICAC adopts a three-pronged strategy to fight corruption, namely, through law enforcement, education and prevention. Its vision: Mauritius-our home, clean and fair. ICAC needs support and cooperation and commitment of the national population to succeed in its fight against corruption. The ICAC acts independently, impartially, fairly and in the sole interest of the public. Such organizations are one major step in the cleansing process of the society; in eradicating corruption. Corruption prevention programs can help increase confidence in such organizations. They enhance integrity in the organization financial reporting and promote the development of an ethical culture while ensuring transparency and good governance. However, risks of corruption can rarely be completely eliminated. The boards of organizations, and not sole individual, must constantly be alert about these types of risks. Only then shall acts of corruption diminish and society progress. Chapter 1 [why corruption?] Ivan Pavlov, the Nobel Prize winner in Psychology or Medicine in1904, described the operant condition as the food of all corrupt acts. Pavlov suggested in 1904 that the corrupt man acts similarly to a trained dog. He answers to stimuli which trigger his memory. As such the memory is related to corruption. Actually, the need of prevailing over someone and gain power over him is what triggers corruption. A person compares himself with one of his fellow friend. The desire of seeing this friend unsuccessful triggers reinforcement for corruption- jealousy. Human psychology explains that since jealousy means not willing to abide by the success of someone, it forces the person to apply force so as to triumph over him. Such mediocre thoughts are the image of a mediocre mindset. Memories which trigger such acts are accumulated through a persons life- from childhood till death. The stimuli-response behaviour is so subconscious that we are not able to recognize it and take actions against it. Therefore, if the person gains profit when he abuses human relationships, his brain captures the situation and causes the person to act repetitively in this way. Thus corruption and lust for power makes a persons life immoral. When such a stage is reached, the person cannot go backwards. He finds pleasure in taking advantage of other persons to gain profit. He cannot do otherwise since he will fail and will eventually need to abide by corruption. Last time, when I took advantage of that gullible guy, I won that prize. So now I guess that I will win again. Why should he succeed? I cannot allow this. I shall do something!These are what might be passing through the mind of a person just before he commits an act of corruption: If I do that, I will be the one gaining profit from it. I shall do it. Then, only will people recognize me. I must attain that height, no matter what! I must do it! Let me bully that guy so that he does the dirty work for me. However, some people do not corrupt deliberately but instead they are forced to do so. Corruption consumes the person bit by bit until it becomes his way of living. This is a major psychological phenomenon prevailing in many countries. Corruption is triggered by many factors which cause the human mind to become feeble and rely on corrupt measures to earn a living. Such factors are listed below: Low wages Hope is all what a low-waged employee can have. However, as time passes, lust and impatience take over his mind. This is the beginning of corruption which eventually leads to the death of the society. Low wages pressurizes the person to obtain more money. Between his social status and familial pressures, he opts for corruption to seek for a better future. Since most of the employees in Mauritius earn a modest living, they will normally be tempted to easy-money. This scourge is spreading worldwide and the real root of this problem is none other than the merged action of a lack of meritocracy and an unprecedented rise in the standard of living. Weak sense of civilization So much is being said nowadays and so little is being done. After so much years of moral and social enlightenment, it is a matter of shame that the corrupt can still act blind in front of the suffering that he is both directly and indirectly inflicting to others. It is shocking to find that even highly educated persons and high dignitaries are implicated in fraud cases. Such a case to be noted is The Watergate Scandal in 1974. The President, Richard Nixon, governing over America then was arrested after having been proven guilty of stealing, abusing indulging in campaigns frauds, political espionage and sabotage, fund laundering, massive wire tapping and the list goes on. Such a high dignitary and he stooped so low. This shows the hypnotic power lust and materialism can have on the human brain. In President Nixons case, he did not even ponder on the feeling of betrayal the millions of Americans felt on the day they found out this scandalous truth. Indeed, corruption kills our inner self and makes us as death as a corpse. Culture In African countries, it has become a tradition that after rendering a service, the person should be rewarded in terms of gratuity or tip. This tradition is so intensely practiced in some countries that the glimpse of abolishing it might create a huge cultural rift. In Africa, the reward is usually to gift the chief special honours, and in this way, politicians accepting such honour and rewards are considered acceptable. As such some politician might take advantage of this tradition and render its value nil. They would ask for gifts and rewards for jobs. This type of corruption makes the society sick and even worse is when the whole society indulges in corruption, thereby leaving not a ray of hope for a reestablishment of law and order. Absence of institutional mechanisms In a country where there are no institutions, either internal or external, to investigate into complaints related to corruption, the tendency of people practicing corrupt acts is relatively high. This is so since the chance of getting caught is minute. The absence of watchdog institutions also minimizes the consequences if the offender is caught. Wisely, such institutions should be built. It will increase the countrys economic growth since less fraudulous trades will be done. As such the country will regain a better image in terms of financial security. This will furthermore increase the Foreign Direct Investments of the country which will be the start of an unprecedented rise in wealth and status for the country. Absence of rules and regulations and lack of transparency Rules and regulations should remain omnipresent in an organization so that the employees can behave and conduct themselves in an appropriate and acceptable way. Such limitations allow everyone to be treated and judged fairly and equally. The effectiveness of these rules depends on the way of communicating them to individuals so that they are implemented and followed. The presence of a clear policy and legislation, and a wide range of enforced rules and regulations and policies might help to decrease the level of corruption in an organization or even a country. On the other hand, the absence of transparency increases the risks of corrupt acts. Transparency, as such, means tasks and functions been conducted and are open for examination by the Government officers or the general public. Also, the media must have the right of freedom of speech so that the media can inform citizens about any act of corruption been reported to it. Corruption is deterred by a transparent system as civil servants remain constantly vigilant. Therefore, strict rules create the fear of been defame by the media if the act is reported. This can drastically decrease the rate of corruption in a country because every person cherishes most his status. Discretion and absence of accountability In every system, there should be a person or an authority to take decisions. Such a person or authority has the freedom to act within certain limits. Corruption can occur where public officials: Have immense authority, Are not accountable to anyone, and Have lust instead of the grey matter. An environment with more discretion and without accountability is more prone to be submerged by corruption. Public leaders and civil servants should be accountable to the general public in a democratic country. This means that they should be able to answer to people for the action taken if a question is raised on the topic in question. Lack of effective laws can cause corruption to flourish as people will be carefree and act as they want. Therefore accountability is definitely one of paths toward neutralizing corruption. Chapter 2 [trend of corruption in mauritius] Several studies have been carried out during the last decade about the opinions of Mauritians on the perception of corruption. The Research Institute Analysis carried a survey in 1998 by interviewing 500 people. The results obtained have been classified into 3 main categories: The Tolerance of Mauritian Towards the Perception of Corruption It has been concluded that Mauritians normally tolerate, or more specifically, favour corruption whenever they can benefit from it. Paradoxically, they are the first one to condemn acts of corruption. Thus, within 37% of managers interviewed within the private sector. Corruption is commonly accepted in businesses since it plays a vital role in ensuring the success of the enterprise and thus output a favourable profit. On the whole, 85% of the interviewed people agreed that they do not tolerate corruption while the remaining 15%confess that indeed corruption does affect their activities directly. In 2004, 58% of people questioned said they would report any case of corruption they witnessed. However 30% thought that in doing so they might create problems for themselves. The remaining 22% feared possible acts of vengeance. The Most Corrupted Sectors in Mauritius From the surveys carried out, The police sector and the National Transport Authority (NTA) have been considered as most corrupted in terms of awarding contracts to private enterprises. The politicians are the most cited among the most corrupted persons of the country. The general opinion of the public about the private sector is also pessimistic. According to a survey carried out by the ICAC in 2004, 28% of people questioned think that the private sector runs in a corrupt environment, while 54% think that the private sector operates in a clean atmosphere. The Effectiveness of Legal Measures In 2004, an interview revealed that: 29.5% of people queried believed that laws against corruption are efficient, 26% thought the opposite, 20% considered that laws are efficient but are unfortunately not applied effectively, 32.8% assumed that the power of the court as an institute is limited and insignificant towards high dignitaries (the part of the general public did not receive University Education). On an international ground, The Transparency International Corruption Perception Index has rewarded Mauritius as follows: Chapter 3 [corruption and development] Corruption has always existed. During recent decades, however, corruption has grown both in terms of intensity and geographic extent. Since the 1970s, it has infiltrated every country in the world. After the end of the Cold War, it was expected that political and economical restrictions would somehow reduce this trend. People hoped that the process of democratization and openness, resulting from political pluralism and freedom of the press, should mobilize efforts to overcome corruption. Unfortunately, emergent democracies are still delicate and seem to find the duty of tackling with corruption very difficult. Nowadays, it is seen that weakened state structures, such as inappropriate legislations, powerlessness on the part of the judicial system to fight against corruption, and pursuit of easy money, altogether contribute to aggravating the situation. Such a state of affairs surely has an effect on those who are involved and concerned by development issues. As such corruption is one of the major obstacles in a countrys progress and its effects on development are disastrous. On analyzing the effects that corruption has on development, we found out that corruption adversely affects development in the following ways: Corruption increases the costs of goods and services. Although there is 5% reduction in the profit margin, corruption levels of 10% to 20%, which is the price and will consequently, be paid for through the national or foreign resources of the country. Thus, it is the national economy that suffers the consequences of an unreasonable surcharge on the goods or services bought. Since such operations are normally financed by bank loans or by foreign parties, through concessional loans, corruption indirectly increases the country debts. Corruption affects the quality of services supplied to the public. The corrupt person is tempted to accept a substandard quality of service which increases his personal profit margin. Then, the complicity between the Government and the contractors may result in corner-cutting with regard to agreed quality standards so that the savings made may be shared out between the two parties. Corruption affects the conception of a project. In this section, we are referring to situations in which the real development priorities of a country are neglected in favour of operations which generate the greatest personal gain for the decision-makers. Corruption causes the Government to spend more on the construction of unwanted projects or on lower order investments in infrastructure rather than on social areas. In most corrupted countries, corrupt politicians tend to choose projects irrespective of their intrinsic economic factor but rather on the bribes and kickbacks that these projects offer which results in poor infrastructures leading to economic imbalance. Rise in the public burden. Due to corruption, many countries that borrow money to finance projects and are not able to satisfy their real needs will see their debt burden increase. The loss will be 100% if one views it in terms of the cost of the unproductive investment t the national economy. From the many researches we have carried out and investigated on, we have found out that political corruption is the main object of concern as far as development is affected. It is a fact that politicians are the one who control the whole development mechanism. This phenomenon is not present in every state but the moment its presence is confirmed, that state starts degrading. Political corruption takes place when decisions are made on the budget. This is the root of political corruption which accounts for a massive load of corruption across the world. As such, high rates of corruption divert resources away from their real functions and it also reduces the Government revenue. This decrease in income further decreases the resources available for public investment: development is eventually affected. High corruption rate is also associated with poor infrastructure; bodies are not working at full efficiency thus decreasing output. So, when corrupt politicians influence the approval of an investment project, the rate of return, as calculated by the cost-benefit analysis, is no more the criterion for project selection. A compilation of corrupt decision as such often fails to generate the wanted economic growth. Further on, negligible economic growth halts any type of social and infrastructural development. Corruption leads to tax evasion and poor administration. In many cases, tax collection is much less than estimated financial commitments: Pensions, Interest payments, Public debts, Salaries, and Subsidies. This was one of the major problems that Mauritius faced in the past years due to uneven governance from the various politicians in power. However, gradually politicians have become aware of the danger they are going to face in the near future. As remedial measures, they have taken long term effect measures to prevent any further misbalances to the economy. The positive results of these crucial but necessary measures can be perceived and yet many more are to come. Chapter 4 [corruption and inequality] Corruption and inequality are directly linked. There are two ways in which they are correlated: The change of economic inequality due to corruption, and Economic inequality as a factor of corruption. In other words, an increase in corruption due to economic inequality can produce additional drawbacks. Judicial corruption has also a very big hand in bringing economic inequality. The first example that can be taken is in terms of the tax system. Nowadays, due to corruption, we have a biased tax system where wealthy are favoured and become richer and the poor are marginalized and remain poor. The result of this favouritism leads to a defective tax administration causing an unprecedented increase in social inequality as the gap between the poor and the rich is maintained. Adding to this situation is the poor effective targeting of social programs which, due to corruption, are having a serious problem. Funds that are supposed to help in alleviating poverty are being shifted from trust funds to reach powerful individuals. This is really going to increase inequality in society as the poor people will not be able to enjoy their merits while on the other hand the rich people will continuously play with money. Poor people are the only victim of acts of corruption. Hence an increase in the rate of the perception of corruption will cause an increase in poverty, causing the regression of a country and ultimately the downfall of the world. It is true that when you invest in corruption, there is always the uncertainty that you will get what you actually wanted. The rules constantly change. Thus if a poor person invests in a corrupt plan, then the powerful and wealthy individuals might easily turn the tables and take all the profit. Therefore, inequality will always prevail amongst individuals as long as the barrier between the poor and the rich is not breached. Social trust also plays a fundamental role between equality and corruption. If politicians of one country will keep on trusting the population and vice-versa, then corruption will be totally eradicated. Rich and poor people will never be tagged. Thus, everyone will earn equal amount of money and eating the same quality and amount of food. However, it is all due to mans vile mind that social trust is gradually disappearing from the society. People tend to snatch others possessions and in trying to be like others, they simply crush the desires of others. This disease is due to social inequality and the materialistic barrier between the poor and the rich. Chapter 5 [government measures] Corruption has become one of the most serious problems in Mauritius. In order to fight this scourge, the leading Governments, over time, have taken several corrective measures: Strict Judiciary System Obligations Watchdog Body Strict Judiciary System With enforced laws and regulations, people caught practicing corrupt acts are dealt with more severely. Through time, much legislation has failed in their task of rendering justice and controlling the rate of corruption. In a more optimistic point of view, several legislations have been modified in order to adopt a more realistic and righteous approach to criminal acts- corruption. They have permitted through the years to bring development in the society and to help people stay within their limits. Watchdog Bodies The Independent Commission Against Corruption (ICAC) was established on the 1st April 2002 as the Prevention of Corruption Act (PoCA) 2002 was put into effect by official proclamations. The principal aim of the ICAC is to plan and implement the national strategy against corruption in the Republic of Mauritius. Its mission statement is: With the community, the ICAC is committed to fight corruption through effective law enforcement, education and prevention to help keep Mauritius fair, just, stable and prosperous. The ICAC is an independent body and acts impartially. The ICAC investigates all allegations of corruption that are reported in respect of both the public and private sectors and then takes appropriate remedial measures. For instance, the ICAC and the MQI launched the second edition of the Best Anti-Corruption Framework 2008 at the Rajiv Gandhi Science centre on Wednesday 7th May 2008. Its aim was to identify loopholes and weaknesses in enterprises that may give opportunities for corruption and initiate actions for fraud detection and prevention. In addition, the ICAC plays an important role in education whereby its goals are: Make educators more concerned about imparting knowledge Promote good control education Enhance professional and moral principles among teachers Provide strength and support to teachers to enable them to fight actively against corruption Boost up the inclusion of anti-corruption education in the school curriculum Obligations The Republic of Mauritius is growing day by day and in order to bring sustainable development, the Government is continuously making commitments with several high order organizations: The United Nations Convention Against Corruption, The SADC Protocol Against Corruption and The African Union on Preventing and Combating Corruption among many others. The fundamental raison dà ªtre of such obligations is to attract foreign investments to the country in order to have a positive economic growth and hence progress in the world. Chapter 6 [evaluation of measures] In this section we will be dealing with a local case and explain how the case in question affected development and created inequality in society. Also, we will try to find out what more can be done in order to prevent such situations in the future. 1 Mr. Robert Rivalland was prosecuted in this year for being part of a plot which was to the detriment of Air Mauritius. He was part of a money laundering case between 1982 and 1997, along with three other high officials of the Air Mauritius and The Rogers: the case was withdrawn from the three other partners. Robert Rivalland was the only one accused of having corruptly diverted about Rs. 85 million. His lawyer, Mrs. Yamilla Moonshiram, declared that the case of his defendant was stronger compared to one of the three other accused. Mr. Rivalland was finally condemned. Analysis: During this case, Mr. Rivalland seemed to be quite silent, especially during the case hearing. This may be seen in two ways: either he is truly innocent or he is really a culprit. Being part of the so called suspicious commission during 1982 and 1997 made it a hard attack against his defense in Court. As such, his name was mentioned several times when one of his fellow partners was accused: he was the one who approved the cheques which were diverted from the Air Mauritius account. During the 15 years of conspiracy, the Air Mauritius suffered a colossal loss. The Rs. 85 million could have been used in the expansion of the airport. This would furthermore enable a more massive flow of tourists in and out of the country. Since tourism is one of the pillars of the economy of our country, the whole nation would have benefited to a much larger extent. Moreover, the employees of Air Mauritius could have enjoyed a better salary which would have led to a higher standard of living and increase their productivity at work. The plot created a great disturbance in the Mauritian economy. The employees of Air Mauritius were marginalized. They could not benefit from any rise in their salaries and this further increased the gap between the rich and the poor in the society. The poor workers had to struggle to satisfy their needs which created a rift between their wealthier colleagues. Consequently, this increased social inequality. aaa Chapter 7 [recommendations] Mauritius is trying hard to polish its image around the world. Among poverty eradication and literacy, corruption is yet a problem that the Mauritian Government is facing. Some of the measures that can be implemented are: Keep the issue of acting against corruption under regular review. Collaborate with other countries and work together to devise strategies to counterattack corruption. Adopt the International Code of Conduct for Public officials. Hand over the power of a system to a Board of people rather to a single person. (Decisions that are voted by a Board are less doubtful compared to that made by a single person.) Abolish old and ineffective laws and establish new and stricter ones. Organize campaigns to both prevent and control corruption. Zero tolerance towards corrupt officials and high dignitaries (Through this measure, many high dignitaries were found to be implicated in corrupt acts in Zimbabwe- a member of the SADC. Since Mauritius forms part of this community, the same measure can be implemented to combat corruption). Sensitising workers on the causes, trend and impact of corruption Inculcating ethics and moral values as early as from primary schools so that children understand the implications of corruption. [conclusion] Ivan Pavlov rightly said that corruption is a conditioned-reflex action; a persons past corrupt gains boosts up his corrupt endeavours. Due to the innumerable factors discussed above, corruption has in fact become a vulnerable stage from which a feeble mind cannot abstain for long. Indeed, as several worldwide surveys have shown it, the scourge of corruption is a perpetual process that keeps on devouring a persons life. Once addicted to corrupt acts, it is nearly impossible for him to escape from the clutches of corruption. Nowadays, people of the higher hierarchy want to go ahead and earn even more money while on the other side, the poor remains unemployed and keeps on trying to meet the ends monthly. Both, corruption and inequality coexist in society and in order to eliminate one, we need to eliminate the other; they are mutually related. We should stop favouritism and start keeping faith in one another. Corruption will lead to nowhere while social trust will show the way to a country with a sustainable economy and hence a healthy population. We have, in the course of this project dealt with very resourceful information and have tried to bring forth the slowly emerging plague of the society- corruption- and we have also tried to suggest some recommendations. At the end of this highly resourceful project, we have realised that corruption is nothing more than the fruit of humans mind. We need to control it before it gets at arms length in the race of such a materialistic world. Facts and figures are the witnesses of its unprecedented rise. It is also a fact that people are becoming more aware of it but much remains to be done so as to eradicate corruption in not only Mauritius but in the whole world. Appendix The interview of Mr. Boodhoo, Chief Officer at the Corruption Prevention and Education Division on Monday 5th May 2008(10.00 a.m.) According to ICAC, how can corruption be defined? Corruption is an abuse of power or authority for personal gain. Now, according to the law and constitution of Mauritius, what is the definition of corruption? PoCA defines corruption as an abuse of power in the public and private sector for personal gain. What do statistics say about the trend of corruption in the Mauritian society? Corruption cannot be measured. It is impossible to measure corruption. It is a secretive activity. Nothing is gained from surveys about corruption. Only the perception of corruption is measurable. However, this is not 100% efficient. What procedure does the ICAC adopt to treat corruption cases? The complaint is directed to the board of ICAC. The board refers the matter for investigation if required. In terms of national and international relationships, how does corruption affect our countrys status? Investors will not be willing to invest if they perceive the country as corrupted. Knowing that for every business, bribes will be needed. Hence, there will be no Foreign Direct Investment. Laws and bills are still being voted in the Mauritian assembly. How far do you think that these measures are reliable and effective? We should know how far the laws are enforced. We should not only pass laws

Franklins Preface To Poor Rich Essay -- essays research papers

In Benjamin Franklin’s preface to Poor Richard Improved, "The Way to Wealth", Franklin offers many adages to help the reader conserve money. Many of these sayings are common even today. The title of this preface makes since because the title, "The Way to Wealth", can be interpreted as The Road to Wealth. If the reader does as these adages tell them, he or she should be on their way to wealth. Franklin offers advice to just about anybody. Franklin believed that wealth was important because it led to both frugality and industry. Frugality and industry were listed as his fifth and sixth virtues. Franklin tells us that in order to be industrious, we must always be employed in something useful. His proverb, "Employ thy Time well if though meanest to gain L... Franklins Preface To Poor Rich Essay -- essays research papers In Benjamin Franklin’s preface to Poor Richard Improved, "The Way to Wealth", Franklin offers many adages to help the reader conserve money. Many of these sayings are common even today. The title of this preface makes since because the title, "The Way to Wealth", can be interpreted as The Road to Wealth. If the reader does as these adages tell them, he or she should be on their way to wealth. Franklin offers advice to just about anybody. Franklin believed that wealth was important because it led to both frugality and industry. Frugality and industry were listed as his fifth and sixth virtues. Franklin tells us that in order to be industrious, we must always be employed in something useful. His proverb, "Employ thy Time well if though meanest to gain L...

Unemployment and inflation

The rise in energy prices reduces the productivity of capital per worker. This causes sf(k) to shift down from sfl(k) to sf2(k). The result is a decline in steady-state k. Steady-state consumption per worker falls for two reasons: (1) Each unit of capital has a lower productivity, and (2) steady-state k is reduced. population growth rate permanently increased due to increased immigration Immigration raises n from nl to n2. The rise in n lowers steady-state k, leading toa lower steady-state consumption per worker. c.A temporary rise in s has no effect on the steady-state equilibrium. . The increase in the labor force participation rate does not affect the growth rate of the labor force, so there is no impact on the steady-state capital-labor ratio or on consumption per worker. However, because a larger fraction of the population is working, consumption per person increases. Question 4 How would each of the following affect the national saving, investment the current account balance an d the real interest rate in the large economy (a) The home countrys saving curve shifts to the right, from Sl to S2.The real world interest rate falls, so that the current account surplus in the home country equals the current ccount deficit in the foreign country. National S rises, I rises, CA rises, rw falls. (b) The foreign countrys saving curve shifts to the right, from Sl For to S2For. The real world interest rate must fall, so the current account surplus in the foreign country equals the current account deficit in the home country. National S falls, I rises, CA falls, rw falls.C The foreign countrys saving curve shifts to the left, from Sl For to S2For. The real world interest rate must rise, so the current account deficit in the foreign country equals the current account surplus in the home country. National S rises, I falls, CA ises, rw rises. (c) If Ricardian equivalence holds, there is no effect. If Ricardian equivalence does not hold, then the result is the same as in par t (b), as the toreign count saving curve shifts to the right.That is because all else equal, higher taxes increase government saving more than they reduce private saving. Question 3. Explain how each of the following transaction would enter the Bahamas Question 3 a Income receipt from abroad: credit entry in current account. b Import of assets: debit entry in capital and financial account. (c Import of services: debit entry in current account. (d Increase in foreign ownership of U. S. assets: credit entry in capital and financial account. Question2.Assume (a) Desired consumption declines as the real interest rate rises because the higher return to saving encourages higher saving; desired investment declines as the real interest rate rises becauses the user cost of capital is higher, reducing the desired capital stock, and thus investment. (b) Recall that Sd = Y -Cd – G, so Sd = 9000 -Cd – ld 2 6100 1 500 3 1400 1 ooo 4 5900 1300 1100 9200 5 1200 6 5700 equilibrium. Giv en Y 9000, the equili brium condition holds only at r = 5%. Atr = 5% it is also true that Sd = = 1200. Question 1Keynesians and classicals differ sharply in their beliefs about how long it takes the economy to reach a long-run equilibrium. Classical economists believe that prices adjust rapidly (within a few months) to restore equilibrium in the face of a shock, while Keynesians believe that prices adjust slowly, taking perhaps several years. Because of the time it takes for the economy's equilibrium to be restored, Keynesians see an important role for the government in fighting recessions. But because classicals believe that equilibrium is restored quickly, there's no need for government policy to fght recessions.Since classicals think equilibrium is restored quickly in the face of shocks, aggregate demand shocks can't cause recessions, since they can't affect output for very long. So classical economists think recessions are caused by aggregate supply shocks. Keynesians, however, think that both aggregate demand and aggregate supply shocks are capable of causing recessions. Question 8 Growth that is â€Å"too rapid† most likely refers to a situation in which the aggregate demand curve has shifted to the right and, in the short run, intersects the SRAS curve at a level of output that's greater than the full-employment level of output.This situation is associated with inflation because, in the long run, prices will rise, shifting the SRAS curve up to intersect with the LRAS and AD curves. The shock that is implicitly assumed to be hitting the economy is an aggregate demand shock, since that's the only shock that increases output in the short run and inflation in the long run. Question 10 The temporary increase in government purchases causes an income effect that increases workers' labor supply. This results in an increase in the full-employment level of output from FEI to FE2 in Figure 10. 10.The increase in government urchases also shifts the IS curve up and to the right from ISI to IS2, as it reduces national saving. Assuming that the shift up of the IS curve is so large that it intersects the LM curve to the right of the FE line, the price level must rise to get back to equilibrium at full employment, by shifting the LM curve up and to the left from LMI to LM2. The result is an increase in output and the real interest rate. figure 10. 11 shows the impact on the labor market. Labor supply shifts from NSI to NS2, leading to a decline in the real wage and a rise in employment.Average labor productivity declines, since employment rises while capita ixed. Investmentdeclines, since the real interest rate rises. To summarize, in response to a temporary increase in government purchases, output, the real interest rate, the price level, and employment rise, while average labor productivity and investment decline. (a) The business cycle fact is that employment is procyclical. The model is consistent with this fact, since employment rises when government purchases rise, causing output to rise. (b) The business cycle fact is that the real wage is mildly procyclical.The model is inconsistent with this fact, since it shows a decline in the real wage when government purchases rise and c) The business cycle fact is that average labor productivity is output rises. procyclical. The model is inconsistent with this fact, since it shows a decline in average labor productivity when government purchases rise and output rises. (d) The business cycle fact is that investment is procyclical. The model is not consistent with this fact, as investment falls when government purchases rise and output rises. (e) The business cycle fact is that the price level is procyclical.The model is consistent with this fact, as the price level rises when government purchases increase and output increases. Question 6 and 7 (a) An increase in government purchases reduces national saving, causing the real interest rate to rise for a fixed level of incom e. If the real interest rate is higher, then real money demand will be lower. The price level must rise. The result is that output is unchanged, the real interest rate increases, and the price level increases. 6 (b) 7aWhen expected inflation falls, real money demand increases.There is no effect on employment, saving or investment, so output and the real interest rate remain unchanged. With higher real money demand and an unchanged nominal money supply, the equilibrium price level must decline. b) When labor supply rises, full- employment output increases. Higher output means higher income, so saving will increase. More saving means the real interest rate will decline. Both higher output and a lower real interest rate increase real money demand. Higher money demand with a constant money supply means the price level must decline. 17 c When the interest rate paid on money increases, real money demand rises. That is because the cost of holding money falls. With no effect on employment o r saving and investment, output and the real interest rate remain unchanged. With higher real money demand and an unchanged nominal money supply, the quilibrium price level must decline. Question 11 and 12 In Figures 11 . 17-11. 20, point A is the starting point, point B shows the short-run equilibrium after the change, and point C shows the long-run equilibrium after the change. (a) In Figure 11. 7, when banks pay a higher interest rate on checking accounts, the demand for money rises, shifting the LM curve up and to the left from LMI to LM2 in Figure 11 . 17(a). As a result, the AD curve shifts down and to the 2 in Figure ) The new snort-run equilibrium occurs at point B, where output is lower, the real interest rate is higher, employment is lower, and the price level is unchanged. In the long run, the price level decreases to shift the LM curve from LM2 to LM3, which is the same as LMI, to restore equilibrium at point C. As a result, the short-run aggregate supply curve shifts do wn from SRASI to SRAS2.At the new equilibrium, compared to the starting point, output is the same, the real interest rate is the same, employment is the same, and the price level is lower. Figure 11. 17 (b) In Figure 11. 18, the introduction of credit cards reduces the demand for money†shifting the LM curve down and to the right from LMI to LM2 in Figure 11 . 18(a). As a result, the AD curve shifts from ADI to AD2 in Figure 11. 8(b). The new short-run equilibrium occurs at point B, where output is higher, the real interest rate is lower, employment is higher, and the price level is unchanged.In the long run, the price level increases to shift the LM curve from LM2 to LM3, which is the same as LMI, to restore equilibrium at point C. As a result, the short-run aggregate supply curve shifts up from SRASI to SRAS2. At the new equilibrium, compared to the starting point, output is the same, the real interest rate is the same, employment is the same, and the price level is higher. F igure 11. 18 (c) In Figure 11. 9, the reduction in agricultural output shifts the FE curve to the left from FEI to FE2, and shifts the LRAS line from LRASI to LRAS2.The rise in agricultural prices increases the price level, so the short-run aggregate supply curve shifts up from SRASI to SRAS2. Also, the rise in the price level shifts the LM curve up and to the left from LMI to LM2. The short-run equilibrium is at point B, assuming that the LM curve shifts so much that it intersects the IS curve to the left of the FE line. At point B, compared to the starting point, output is lower, the real interest rate is higher, employment is lower, and the price level is higher. Figure 11. 19 If the water shortage persists, a new long-run equilibrium occurs at point C.To get to this equilibrium, the price level must decline, shifting the LM curve from LM2 to LM3, and the short-run aggregate supply curve from SRAS2 to SRAS3. Relative to point B, the new equilibrium has a higher output level, a lo wer real interest rate, higher employment, and a lower price level. (Relative to the initial equilibrium at point A, output and employment are lower, and the real interest rate and the price level are higher.