Risk Mangement Research Paper Example | Topics and Well Written Essays - 500 words

Risk Mangement - Research Paper Example Moral hazard is a situation where an insured party will tend to take risks due to the fact that any losses that could result are covered by the insurer. Under normal circumstances, the insured party could work to avoid risks or minimize them but chooses not to due to the insurance cover that this party enjoys. On the same note, moral hazard is realized when an insured party seeks to maximize the benefits offered by the cover. For instance, a person with health insurance is likely to visit a health care facility more times than he/she could in the event that the health insurance cover is not available. This same case applies in the business environment, where business enterprises can take more risks under the notion that any losses or costs are covered by another party. On the other hand, adverse selection is the situation where decisions are made under uncertain circumstances, which primarily entail access to asymmetric information (Lam, 2003). The results realized in the process are in most cases undesired. In a buyer-seller context, the two parties could have access to different information that consequently influence one or both parties to make decisions or settle at some results that they could not choose if they initially had the same information. Moral hazard and adverse selection can actually exist independently, but their application is highly intertwined. Risk-averse individuals outnumber risk takers. Many people go to high extents to avoid risks, with only a significantly low figure choosing to take ultimate risks. For instance, the number of highly entrepreneurial firms in the business environment is low. This is because highly entrepreneurial firms are risk takers, and risk taking raises the chance of making losses. However, when a high-risk business activity succeeds, the profits reaped are enormous. Risk management is a fundamental practice in the organizational setting. Firms work their way to manage risks in order to

Self Development Plan Assignment Example | Topics and Well Written Essays - 2000 words

Self Development Plan - Assignment Example Before this, I did not need to think or consider because I met people from the same religious background since birth. Of course, people did come from varied cultures even in Madinah, the city in Saudi Arabia that I hail from, but having the same religious background, we had something in common. Interacting with them was never an issue. I did realize the difference when I arrived in Toronto. I come from a decent family and hence the luxury of Canada was not a shock. I had been exposed to comforts and convenience and hence adjusting to Canadian lifestyle was not a problem. Being an Arabic Muslim male in mid-twenties, leaving home was exciting because little did I know what I would encounter. With a desire to be at par with people in the western world, with a desire to compete for jobs at an equal level, I decided to undertake Masters Studies in Canada. I did realize that one has to come out of the shell, one has to explore the world to equip oneself and to gain competency. This gave me the courage to leave the comfort zone and arrive in Canada. I lived in Toronto for 18 months before enrolling for Masters and moving on to Saint John City, New Brunswick. I soon realized that it is not enough to have academic competency; one also requires cross-cultural competency. I guess this thought came to my mind because I identify myself as a Muslim and not as another human being coming from a different background. I became conscious of my culture when I encountered people from an entirely background. Canada and Saudi Arabia differ vastly in their cultural background. I did face problems in the beginning simply because the exposure back home was limited. However, since there were a few people from my region already domiciled in Canada, I received some guidance from them and learnt the rest as I lived. Fortunately I did not avoid cultural difference; I accepted its importance, which according to Bennett (2004) is ethnorelativism. My exposure to diverse cultures helped me accep t an entirely different culture with ease. I also realized that the cultural values norms and beliefs that I had unconsciously imbibed were relevant to that region. Here I would need to adapt to different cultural nuances. This implies that acceptance has set it as one recognizes that one’s own culture is one of the different cultures prevailing in the world. In fact I found that Canadians too, were receptive and accepted Islamic culture as they had been exposed to many from the Arabic countries. Toronto was a multicultural city and I encountered people from diverse cultures such as China, India and Africa. I used to be taken aback at the way children, once they finished education, moved out their parents’ house. I obviously was trying to compare with the situation back home. At the same time I was stared at, and none ventured to stretch their hand in friendship. Gradually, I smiled and they smiled back. I was relieved to some extent and it also gave me the feeling tha t with time, things would be different. As acceptance set in, tolerance also crept in. Knowledge of other Cultures I realized that exploring your own cultural identity can be the hardest thing to do. Our own culture is so deeply ingrained in us but unless we understand our own rules and norms we shall not understand other cultures. I was quick to adapt to a new culture because prior to arriving in Canada I had done some reading on this culture which helped me develop a positive attitude towards it although I lacked

The Rise Of A Mercantilist Economic System History Essay

The Rise Of A Mercantilist Economic System History Essay The rise of a mercantilist economic system in Europe forged a unified relationship between government and its people by superseding feudalism and developing a merchant class that bridged the gap between the peasant and ruling classes. Britain, France and Spain, in particular, reaped the rewards of mercantilism by forming a powerful array of nation states. Although mercantilism stands in stark contrast with the principles of a free-market economy, it was nonetheless the driving force behind European imperialism from the 15th through the 18th centuries. The emergence of a merchant class developed a link between power and wealth. Mercantilism in Europe helped to centralize power, replacing the feudal arrangement of yesteryear. As critics like Adam Smith would point out, mercantilism was not without its drawbacks. The only two countries that corralled enough wealth to be considered hegemonic, the United States and Britain, did so in the nineteenth century, well after the fall of mercanti lism. Smith opined that economies should be self-regulating, and that mercantilism, through its rigid governmental constraints, prevented economies from truly flourishing. Despite an abundance of critics, the mercantilist economic system undoubtedly had a tremendous impact on Europe and the rest of the globe. Mercantilism was the foundation from which capitalism was born. European mercantilism first emerged in the latter part of the Renaissance in about 1595 and didnt fade away until the late 1800s. Queen Elizabeth I, desperate to quell the powerful Spanish Empire, ordered her Admiralty to reform foreign trade. Her reforms proved highly effective as England would go on to become the most powerful imperial empire in world history. England exploited the mercantilist economic system of importing precious metals and raw materials in exchange for manufactured goods. The French would later mimic Englands economic system. Mercantilist countries used the rule of law to attain a positive balance of trade through their colonies. Stiff tariffs were imposed on imports and colonies were restrained in their ability to manufacture goods. Instead they were forced to purchase products from their mother countries. For example, gold and silver were extracted from the colonies and shipped to European merchants, greatly enriching Europe. The power of the state depended on the amount of gold and silver in its coffers, because this international currency made it possible to build ships and pay for armies. (A Concise History of Economic Thought,Vaggi Groenwerth, 2003). Beginning in the 16th century, control over land, and trade routes became the most important part of collecting wealth for the most powerful countries. The growth of the mercantile system of Europe was largely spurred by the general discontent people had with the Roman Catholic Church. Mercantilism was, to a large extent, spawned by the Reformation. The lifestyle regulations imposed on Catholics allowed for very little self-actualization; a source of great embitterment for the masses who were fed up with the feudal system. Mercantilism brought upon the rise of the merchant class, a transfer of wealth that brought with it a sense of hope for much of Europe. The spread of alternatives to hard-line Catholicism like the Anglican Church coincided with the growth of mercantilism. In the 1600s England began to notice the Spanish becoming a rising power, due in large part to their influence in colonial America. England knew that whoever maintained the strongest blend of colonial influence and military strength would control the all- important trade routes and foreign territories. England, in an effort to squelch rising countries, began to strengthen their control over colonies, demanding that all trade go through them. The growing sense of competition between world-powers fueled the spread of mercantilism. The major players in this face-off were England, France, Holland and Spain. England reigned supreme as the victorious imperial power thanks to dominant military wins over Portugal and Spain in the sixteenth century, then Holland in the seventeenth and France in the eighteenth century. One of the major objectives of mercantilist countries was to create a bond between the powerful aristocracies and the rising merchant classes. The purpose of this alliance was to damage the economies of competing nations. Mercantilist theory suggested that government should enact a wealth-collecting agenda by protecting against foreign imports. Prior to the rise of mercantilism, the military was only formed during specific times of conflict. During the era of mercantilism, however, armies and navies became full-time enterprises as conflict had become a way of life. Gold and silver were the means by which goods and services could be obtained, and funding a strong military was an essential part of the equation. The merchants were willing to finance their governments in exchange for protection against foreign competition. Large central government and mercantilism go hand-in hand: the merchants needed the government and vice-versa. Mercantilist theorists believe that the net total of global wealth was already established, and that countries vied for a greater stake in the pie by exchanging manufactured goods for precious metals. The concept of, buy low, sell high was paramount towards collecting national wealth. The acquisition of non-coined gold and silver, or bullion, was considered the benchmark for economic growth. The growing wealth of European countries, namely England, France and Spain, had a trickle-down effect on their economies. Merchants would become wealthier through mercantilism, and, to a lesser extent, the lives of the labor forces improved thanks to better job security. The transfer of bullion funneled from the colonies of the Americas proved to be a major boon for European mercantilism. Mercantilist writers believed all trade to be a zero sum game, for every transaction there is a winner and a loser, mercantilists sought to handicap the game in order to promote economic success nation-wide. Mercantilism was a Machiavellian, Puritanically dark world view that promoted a general feeling of intense nationalism and ill-will toward competing countries and the colonies they governed. Governments would go as far as to damage entire monetary systems and limit civilian wages in order to reduce imports, and hurt other countries economies. When mercantilist countries did import goods, it was preferred that they deal in raw materials that could be processed and sent abroad in order to acquire more capital. Importing low cost, raw materials to be completed and converted into higher cost, manufactured goods and bartered for precious metals was a lucrative proces s for merchants. Extractive industries, like agriculture, gave way to manufacturing or processing material businesses. Precious metals had the strongest purchasing power for commanding goods and services. During the sixteenth century, the flows of precious metals from the American Colonies of Spain produced high inflation in Europe, but for the mercantilists gold and silver were the substance and the definition of both private and national wealth.(Vaggi Groenwegen, A Concise History of Economic Thought, 2003) As competition in the New World intensified, England began to tighten the screws on her colonies. Mercantilists were acutely aware of the linkage between politics and economics; they believed that power and wealth were closely related, and that both were legitimate goals of national policy. (Theodore Cohn, Global Political Economy, 2005) Although many countries became rich because of the wealth transferred from the New World, not every country capitalized as much as it could h ave. Between 1647 and 1715, the French attempted to mimic the British, but thanks to extreme inefficiency, they fell short. Jean Babtiste Colbert was one of the most well- known proponents of mercantilism. Colbert served as finance minister of France, under King Louis XIV in the seventeenth century. The French used the British mercantilist economic system of as a model for their political economy. Colbert inherited a perilous French economy on the brink of bankruptcy and enabled King Louis to embark on a series of aggressive military campaigns. The term colbertisme was coined by Colbert to describe the method of protecting infant industries. During his 18 years as minister of finance, Colbert issued a total of 150 edicts designed to regulate the guild industry. Colberts successful use of mercantilism was essential in financing the reign of Louis XIV. The Sun Kings reign featured a powerful military force, but the French economy, particularly its agriculture, was over-taxed and stagnant. Thomas Mun was one of the leading mercantilist authors during this time. His most influential works were a pair of pamphlets A Discourse of Trade and, later, Englands Treasure by Foreign Trade. Mun was the director of the East India Company, a monopolistic British charter founded in 1600 that supplied a wide array of goods, ranging from cotton to opium. According to Mun, monetary movements and the exchange rate depend on the condition of the trade balance: the inflows of precious metals reflect the existence of a positive balance of trade and vice versa. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Government-imposed monopolies were inherently corrupted; the use of black market dealings were an inevitable byproduct of price ceilings and quotas. As noted above, colonial powers competed vehemently for control over the North American territories they ruled over. Englands greed would cause tensions to boil over, eventually spurring the American Revolution. The initial Navigation Act of 1651, a bill enacted by the Oliver Cromwell-led Parliament, was designed to gain control over foreign exchanges between the English colonies and other countries. Under the bill, all trade flowing in and out of England or her colonies had to be shipped using British ships. The Dutch, who had been thriving thanks to their free-trade market, were crushed and sent to economic ruin thanks to Cromwells protectionist policies. Not only did the Navigations Acts seize control of transnational commerce, it also disabled competing countries from profiting from freight and shipping services. The mercantilists discovered that it was the whole current account balance that mattered, not just the exchange of commodities. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) British colonial mercantilism was oppressive by nature; American colonies were banned from the global economy and were treated as little more than pawns. The prosperity of mercantilist economies was contingent on the aid of a strong centralized government that regulated foreign and domestic trade. Mercantilist economies became immensely wealthy by coercing a positive trade surplus. It was thought that a country could be strengthened by regulating commercialism by discouraging imports, and maintaining a positive flow of exports. Governments began placing tariffs, quotas and even prohibitions on imports in order to protect domestic business. New businesses would be encouraged with generous tax breaks. As for the trade part of the balance of payments, the government must favour the sale of raw materials abroad because they will be purchased with precious metals, hence adding to the stock of national wealth (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Improved tools and technologically advanced products were not allowed to be exported to foreign markets in order to maintain superiority over competing states. The same was true of talented workers, who were prohibited from emigrating to other countries, just as foreign diplomats hypocritically recruited other businessmen to come to their home countries. One of the sharpest critics of European mercantilism was economist Charles Davenant, who believed England would become more prosperous if government discontinued their policy of intervening in foreign trade. In 1690, Davenant published An Essay on the East-India Trade, which outlined his belied that a liberal foreign trade policy would increase Englands exports thanks to a larger market. According to Davenant, this increase in the stock of money leads to lower interest rates and to higher prices of land. The increase in the value of landed estates brings about a rise of rent and of tax revenue. As a result of a freer trade every section of the population is better off, but the starting point of the whole story is still the successful export trade of England. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Davenants theories, revolutionary for the time, caused vast condemnation in Europe, who believed the risks of an expanded market outweighed the rewards. Ultimately, no alternate system capable of challenging the nationalistic balance of trade theories of mercantilism emerged, and mercantilism continued. Mercantilism began to fade in the 18th century, ending not with a bang, but with a whimper. Adam Smith, a Scottish Oxford graduate, was a revolutionary economist in the mid to late 1700s who was responsible for coining the term mercantilism. One of Smiths major points of contention with mercantilism, as was outlined in The Theory of Moral Sentiments, was his distaste for heavy-handed governmental control of the economy. Smith, who despised mercantilism invented the metaphor, invisible hand which stood for a natural, self-regulation that functioned because of the essential tenets of a free-market economy: self-interest, competition, economic characteristics he believed were possible without governmental intervention. In 1776, Smith wrote in Wealth of Nations: It is not from the benevolence of the butcher, the brewer or the baker, that we expect our dinner, but from their regard to their own self interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. His writings were the basis of laissez-faire capitalism, in which industry is free from the shackles of government. Smith believed in the natural order of the economy, whereby, rather than have the government fix prices and regulate trade, the economy should be a self-sufficient machine that dictates the price of commodities. When the price of any commodity is neither more nor less than what is sufficient to pay the rent of the land, the wages of the labour, and the profits of the stock employed in raising, preparing, and bringing it to market, according to their natural rate, the commodity is then sold for what may be called its natural price. (Adam Smith, Wealth of Nations, 1776) The brilliance of Smith was not in his ability to produce revolutionary economic theories of his own; his greatness was embodied in his ability to assemble existing concepts into a system. The fundamental problem with mercantilism is its refusal to account for the value of all economic activity. Maintaining a positive balance of trade is not the only indicator of economic health. To the contrary, as has been proven in the United States meteoric growth despite a negative balance of trade since the 1970s, a positive balance of trade means very little, and often leads to inflation. Mercantilism, though largely debased today, played an essential role in the rise of the middle class. Without the spread of mercantilism in Europe, its impossible to project how the world might look today. Its possible that, without mercantilism, we would still be living in a feudal, caste-like system comprised of only governmental elitists and a the peasant class, with very little in between. Mercantilism gave rise to the middle class, the largest group in the West. Open Side Bet Tracking Kevin Fox- NFL: Week 13 Game ($20, W),Vikings+3.5 over Sains W $15 Colts-7 over Ravens ($10, W) Paid? NBA: Blazers+4.5 over Magic ($10, W) Paid? MISC: James+Stephen 3-Point Shootout, over Elliot+Kevin ($5, W) Paid? Total: (+ $60) Paid? Joey Leoni- NFL: Men of Menlo Fantasy Football Money ($100, W) Paid? Total: (+100) Paid? Dominic Diricco NFL: Men of Menlo Fantasy Football Money ($50, W) Paid? Total: (+$50) Paid? Kevin Meehan- NFL: The Sunday Special Fantasy Football Money ($100, L) Total: (-100) Paid? Isaac Baron- MISC: (In Progress) Most Makes of 53s, Isaac must Win at least 8/10, I=3Wins, J=1 Win ($100, T) Total: ($100 Pending) Paid? SID: 112 15 810

Richard Scrushy and HealthSouth Essay -- Business Analysis

Introduction HealthSouth is one of the nation’s largest healthcare providers specializing in rehabilitation. HealthSouth was founded by Richard M. Scrushy in 1984 and went public in 1986. Scrushy served as its Chairman of the Board from 1994 to 2002. The company was incorporated in January 1984 as Amcare Inc. before its name was changed to HealthSouth Rehabilitation Corporation in May 1985. In January of 2003, Mr. Scrushy reassumed the position of CEO. HealthSouth grew rapidly during the 1980’s and 1990’s. This growth was largely due to acquisitions. HealthSouth owned more than 330 hospitals worldwide. It was also during this time that Scrushy became known as one of the highest paid CEOs in the United States. The HealthSouth business model stresses four basic steps from diagnosis to rehabilitation and this model served as its mark of distinction among other healthcare providers (Jennings, 2012, p. 183). From 1987 through 1997 HealthSouth’s stock rose 31 percent per year and Mr. Scrushy told analysts that HealthSouth had matched or exceeded earnings for forty-seven quarters in a row (Jennings, 2012, p. 183-184). Problems at HealthSouth were being uncovered in 2002. In early 2002, Scrushy sold over $75 million dollars worth of stock and an additional $25 million back to HealthSouth. It was also disclosed in August of 2002 that a new Medicare payment policy would greatly lower reimbursements and consequently the stock would lose more than half of its value. Shareholder lawsuits were filed alleging that Scrushy acted on insider information when selling his shares of stock earlier in the year. Most of Scrushy’s alleged misconduct occurred prior to the enactment of Sarbanes-Oxley (SOX). To sum... ....proquest.com/docview/216236868?accountid=28180 Lublin, J. S., & Carrns, A. (2003, April 11). Directors had lucrative links at HealthSouth. Wall Street Journal. p. B1. Retrieved from: http://search.proquest.com.proxy1.ncu.edu/docview/398944990?accountid=28180 Mokhiber, R. (2003). Ill feelings at HealthSouth. Multinational Monitor, 24(11), 7-8. Retrieved from: http://search.proquest.com/docview/208878914?accountid=28180 Solieri, S., Felo, A. & Hodowanitz, J. (2008). Richard Scrushy - The rise and fall of the king of healthcare. p. 337-353. Retrieved from: http://www.soliericpas.com/attachments/2008MarRichardScrushy-TheRise&FalloftheKingofHealthcare.pdf Weld, L. G., Bergevin, P. M., & Magrath, L. (2004). Anatomy of a financial fraud. The CPA Journal, 74(10), 44-49. Retrieved from: http://search.proquest.com/docview/212312866?accountid=28180

The Significance of Art in The Republic of Plato

The Republic of Plato as parasols the justice of a censored society which, in reading The Republic as a philosophical treatise, is not surprising. Quotes abound in The Republic supporting this claim, such as â€Å"we must supervise the makers of tales; and if they make a fine tale, it must be approved, but if it's not, it must be rejected. We'll persuade nurses and mothers to tell the approved tales to their children and to shape their souls with tales more than their bodies with hands. Most of those they now tell must be thrown out. Bloom, Bibb)' Through-out the education of the guardians of the city within The Republic, Socrates restricts the poets and story tellers more and more, tossing out what ever would seem to harm his perfectly Just city or diminish the patriotism of those living within. It comes as no surprise that the casual reader may have qualms with this extreme censorship of the artist and what they are permitted to create. A closer reading and an Idea of the social s ignificance of the artist 2500 years ago, seems to reveal a different Intent to Socrates seemingly stubborn pollen of art.Plato was an artist himself, writing beautiful dramatic dialogues, which are most unlike the more modern philosophers like Kant or Hegel who write philosophical treatise. This distinction becomes important in how Plato Is read in comparison to other philosophers. In the mainstream philosophy of our time the most common way to read a philosopher's writing is through a collection of excerpts from many writers on a certain topic. These books are great for getting a lot of different views but unfortunately they destroy the messages contained in non philosophical treatise type writing, such as Plat's.Flats writing can not be taken out of context with excerpts. It would be Like taking Machete's speech from Shakespeare play Macbeth and saying that Is Shakespearean philosophy on the meaning of life, It simply does not do Justice to the writer and their work. The Republic Is about searching for Justice In the human soul, it is also about leading Glaucoma away from a political life because he has a possibly tyrannical soul (Palmer, 33-34)2. The arguments used to bring about these two points cannot be taken out of context from the book to portray a different theory of Plates.The prejudices against Plates philosophical writings usually come from taking an excerpt and applying logical analysis to prove his arguments invalid which simply displays a lack of understanding of how Plato writes. How Socrates came to talk to those in the dialogues, why he is talking to them, and what is not said is Just as important as what Is said in the Platonic dialogues, they are all dramas and should be read as such. Now that we have some reasons for doubting the common criticism of Plates views on art from The Republic.I would like to demonstrate specific reasons for doubting sides to bring about the perfectly Just city in speech and follow up with Socrates own criticism of this city and his reasons for doubting its relevance. The city in speech brought about with The Republic begins with the end of Socrates seeming refutation of Trashcans which Glaucoma rejects and restates the argument for further scrutiny (AAA-361 d). The argument is over whether it is a better life to live perfectly Just or perfectly unjust.Glaucoma states the argument as such â€Å"For I desire to hear what each is and what power it has all alone by itself when t is in the soul†dismissing its wages and its consequences. â€Å"(Bloom, Bibb) After some convincing, Socrates accepts the challenge to defend Justice (ICC). In taking on this feet, Socrates contrives an easier way to spot Justice in the soul. He claims that justice in the soul is like small letters and hard to see while Justice in a city is like big letters and will be easier to see (ICC-d). So Socrates sets out to creating a perfectly just city in speech to flush out Justice in the soul.Whether or not this is a decent attempt to find Justice will be dealt with later by Socrates himself. The first city created, or the first stage of the city, is based on a â€Å"city of utmost necessity' and grows only to the size of a small city (Palmer, 16; Bibb-371 b). Glaucoma rejects this simple city and wants one with more luxury (ICC-d). Socrates believes the first city created was the true and healthy city but he agrees to create a â€Å"feverish† city (IEEE). This forces the city to grow much larger and to take land away from neighbors to support it and, in doing so the city will need an army (37th-e).Attendants urges for a discussion of how these â€Å"guardians† of the city will be educated and reluctantly Socrates accepts and says like men telling myths within a myth we will educate the guardians (Palmer, 16; 37th). Socrates, in his own creation of this city in speech, is claiming here that he is telling a myth, and further, that the education of the guardians is a myth within a myth. This, ironically, is the beginning of the education of the guardians in which Socrates brings about his famed censorship.Socrates continues to give clues to his disapproval of his own argument, as if he is just putting on a show at this point. After discovering Justice in the city, Socrates ants to find out if it corresponds to Justice in the soul, remember the big and small letters. Socrates says â€Å"We were, I believe, saying that in order to get to the finest possible look at these things another and longer road around would be required, and to the man who took it they would become evident, but that proofs on a level with what had been said up to then could be tacked on.And you all said that would suffice. And so, you see, the statements made at that time were, as it looks to me, deficient in precision. If they were satisfactory to you, only you can tell. â€Å"(Bloom, Bibb; n reference to Dodd) Amazingly, Glaucoma accepts what Socrates called a deficient argument on both occasions, although the serious reader probably should not. (As Palmer, 23, remarks: â€Å"Heretofore, the arguments were so lacking in precision that they may have been without any value whatsoever (AAA-b). ) Socrates to tell how it could come into being (471 c-e). Glaucoma forgets, as most readers do, that the city was not created for the purpose of creating a city but for discovering Justice in the human soul. Socrates reminds him, in length, of his mistake and what the true purpose of the city is (Bibb-Bibb). Glaucoma's demand that the good city in speech be realized measures exactly the degree to which he has not understood the Republic. (Penetrate, 123)3 As seems to be true for anyone who believes Socrates was trying to create a true city, and therefore, any regulations Socrates makes within this city. Further evidence for this is evident later on when Glaucoma declares that the philosophers will not mind the business of politics because he finally understands the nonsen sical nature of the city. But, Socrates again reminds him of what they were really talking about and that the philosopher will mind the equines of the city within himself, he will mind the business of his own soul (Palmer, 32).Although the city in speech within The Republic does not seem to represent a real city and should not be taken as a literal attempt to create a perfectly Just city in reality, the fact remains that Plato does seem to be very hard on the artist, especially the poets. The image of the cave sets up mankind as looking at the shadows of artifacts displayed on the wall of a cave by the poets (Palmer, 28; AAA-51 AAA). This gives good reason for Socrates being so hard on them in the creation of the city in beech if the poets are the ones deceiving mankind.Today, of course, poets are not an influence on political life and it would seem ridiculous to accuse them of writing false poems. In Athens and ancient Greek culture, the poets were a major influence. They were the authority on the gods and on virtue. In fact, they were the only authority that would be quoted in a trial or by a representative of the people. They would be very well known by almost all inhabitants of Athens. â€Å"The poets are the unacknowledged legislators of mankind† (Penetrate, 223). It was not the arts homeless which Plato was attacking but their significance in politics.Plato was attempting to replace the poet's authority with the authority of philosophy or of reason, which would seem most natural to anyone today. Plat's true intent in his criticism of the poets is brought up later on in The Republic when in book X he attacks Homer specifically. He compares Homer to the likes of an artisan that makes objects or anything he wants including gods through representation (ICC). Glaucoma claims that this man could only be a sophist (59th). The implicit problem that Socrates poses with the poet is that he does not give an explanation of himself.Homer talks about virtuous p eople and the fantastic deeds they do but these heroes do not praise the poets for their deeds. The poet seems to have no place in his own writing and their â€Å"Speech seems to be subordinate to the deed. † Of the people they are praising (Bloom, 430). Socrates claims that the poet is an imitator of an imitator, in that, the poet appeals to the people and what they want and is only popular if they approve, he must follow the popular view. The people's view is shaped by the legislator who lays down laws in view of what he believes would be natural law (Bloom, 432).

Poverty and Children in the United States Essay

Although the world has made strides in technical development, social development issues remain a challenge not only to the developing world but also to the developed world. Poverty is one of the social issues that have been tackled by successive government with littler mitigation of the situation. Even in situation where the rate of poverty seems declining, there is always a quick shift of the goalpost and the gains made are quickly eroded with successive change of government or due to the changing environment condition. Even in developed countries like United States, poverty is a major challenge. The rate of poverty of poverty remains at double digit even with all the efforts to tackle the problem. Poverty has been confined to the low income segment of the society. Children are the most affected with a high percentage of poverty confined in children population. Due to their vulnerable nature, children have no option but to live with the current state of their life.   Consequent researches have proved that children under the age of 18 are more likely to be impoverished. At all time in our history the gap between the rich and the poor has been growing wide. Not that there are not effort to reduce this gap, but somehow the nature of our economies, free market and the role of the state remain unclear. To take a leaf from a popular book which was published in 1888 by Edward Bellamy, we have not reached the utopic situation that he had predicted in the book by 2000. He saw a society where class division were to be done away with, but our the gap between the rich and the poor is wide; where workers earn the same salary, but there is a big difference in our salary scale;   and a society where poverty would no longer exist, but our poverty levels are soaring all time high.   In his critical outlook at the 19teh century, Dr Lee failed to understand how wages were set at a state in which men and women would not be able to sustain the life of their children. He saw it as a conspiracy to deny children. (Reef, 2008) Poverty in the United States Poverty can be measured either as absolute or relative poverty. Absolute poverty can be defined as a situation where individuals lack all the basic needs for their survival.   This means that individuals lack the fundamental necessities for life like diet that meets their daily caloric and nutrient needs, shelter, clothing, safe drinking water, and others.  Ã‚   In the world those living under such condition are generally considered as poor. On the other hand relative poverty is a measure that is adopted which goes with the standard of living in the society.   In this case individuals may not lack basic necessities like in absolute poverty but compared with the standards of life of those living around they may be considered deprived of some basic wants.   As the standard of living in a country rises, individual life may be changing as well. Therefore poverty in the United States may be measured or a relative poverty base since even most of those who are considered poor do not lack the fundamental necessities of their life. (NCCP, 2008) In the United States, poverty is measured using the poverty line which has been set by the government.   This measure is set to assess how an individual access the basic goods and services which are usually taken for granted by  Ã‚   the society. however this   the threshold value for assessing poverty in the country is adjusted from time to time in line with the rate of inflation   mostly using consumer price index.   The measure for poverty used in the world and which has been adopted by the United Nations is two dollars a day. Individuals who live below the poverty line are those who live on less than two dollars a day. Poverty eradication has been an ongoing war in the United States.   However, it was in 1964 when President Lyndon Johnson officially declared a war on American social. This was war on domestic poverty which had rocked its all time high.   Since 1964 when this war was declared, there are hundreds of billions of dollars which have been spent in the war against poverty in the small and large American towns. The government has been providing free food, repaired all the dilapidated homes and furnished jobs for all those in need. Hearts and Minds (2007) show that despite the government efforts, there are millions of Americans who are still living under poverty. American has not won the war. Statistics taken in 1996 showed that there were more Americans living in poverty compared to the statistics taken in 1964. This clearly illustrate that the country social-wellbeing had been declining to its lowest levels in the last century. 1996 statistics showed that 13.8 percent of Americans were living in poverty and large percentages were in the borderline. However, it was very astonishing that 48 %of this population was children. The statistics also revealed that;  · More than 15 million children or roughly one out of every four children in united state lived below the official poverty line  · 22% of Americans   who were under the age of 18 years and approximately 25% under that age of 12 years were hungry or were at the risk facing hunger  · for every 2,660 children who were born in poverty, about 276 of them died from the same poverty  · Children and families in poverty were the fasted growing group of homeless individual making up to about 40%. Poverty in the United States has been changing with time and usually rhymes with the official measures taken to address the problem.   However, the official figures have been staggering at around 12 to 16% measured on the federal poverty line at any given time while for the last one decade, it is estimated that roughly 40 % of the population fall below the poverty line. The Bureau of Statistics has also revealed that about 58.5% Americans will spend at least one year of life in poverty or mostly between the age of 25 and 75. While the government continues to put more effort in fighting poverty, it is evident that United States has some of the highest official figures of poverty and the Human development Index ranks the country at the 12th position. This means that among the developed countries in the world, the country has the highest pre and post transfer poverty rates. Institute for Research on Poverty (2008) shows that despite these staggering figures of poverty, the distribution of poverty among the race, gender, and age is varying. Going with the age it is evident that individual below the age of 18 years are mostly affected by poverty for example, in the 2006 statistics the rate of poverty among the minors was the highest among the industrialized nations in the world.   Research reveled that 21.9 % of all the minors in the population were living under poverty. However, racial difference was also evident with about 30% of African Americans minors living below the poverty line.   Research has also shown that there is a higher rate of child poverty in the rural areas compared to the suburban and urban areas. Poverty and children As we have seen, children are most affected by poverty in the country. A large percentage of children especially those living in families with low income are languishing in relative poverty compared to how other children in their neighborhood are living. Research has been documented that children living in low income neighborhood famously referred to as the ghettos experience a high rate of poverty compared to children in well up neighborhoods. Hearts and Minds (2007) assert that for the last two decades, child poverty has been ranging between 10 and 20%.   Although there has been fluctuation and dispute of the official figures of child poverty, it is very clear that the figures have been on the upward trend.   During the 1990s, the official figures of poverty children declines slightly and the same decline was also recorded in welfare rolls. However, the hopes raised by this decline obscured three caveats:  · First the increase did not last and when we thought we had mad strides in 1990s, the figures started rising again from 2000.   The welfare safety net was also drastically reduced since 2000.  · Second, there has been an increase in severe poverty. This defines children who are living in families that live on less that half of the set federal line on poverty.  · Third, there are a very large number of children who are living below or near the poverty line, with a good percentage hanging on the border line. Currently   estimates show that this groups is roughly 37 % of American children that is composed of 42% American infant and toddlers, 58% American children, 62% of American Latino children According to the recent estimates, more than 13 million Americans children are living in families which have income far below the federal poverty level which is currently set at $20,650 every year for a family of four.   Between 2000 and 2006 it has been shown that the number of children living in poverty increased by about 11% despite the government effort to mitigate the situation. However, it has been argued that since poverty is measured as relative poverty in United States, this could be attributed to the increase in income in the upper segment of the population. Therefore, this figure may be reflecting a growing disparity in the distribution of income rather than an increase in the official figure of children living in poverty. Despite the argument about the validity of these figures, it is evident that there are more than 1.2 million more children living under the federal poverty threshold today compared to 2000. (NCCP, 2008) Fass and Cauthen (2007) stresses that these numbers are troubling, and they also tell us a part of the wide scale poverty situation in our country.   These figures tell us of a more flawed metric of economic hardship that our country is currently experiencing.   Research has proved that most families in the United States need twice more the federal poverty level threshold in order to make the ends met.   Again here we can see a very clear picture portraying how our official figures are not rhyming with the situation on the ground which tells of a growing disparity in the distribution of resources.   According to the federal threshold level for 2006, children who were living in families below this level which was roughly $41,000 for a family of four were regarded as low income.   More than 39% of children in the nation, about 28 million lived in low income families in 2006. What do these figures reflect? We can give different interpretation from the figures which we have reviewed so far. However, it is very clear that there is a growing rate of child poverty in America. As expressed by child advocacy groups this is a big concern to us especially when we consider that children will make our society tomorrow.   We have toiled to create a developed country and our fear is that we may be slowly slipping to a third world society if we have to continue with the trend. Furthermore the growing number of children living below the poverty line is a reflection of the trend in the large society. This clearly reflects the growing disparities in income distribution. As we saw with the disputed figures, it is evident that the main reason which we an attribute to the growing disparity in the official poverty rate figures shows a growing income in the upper segment of the society while the low income families have reduced their level of income or remained in the same statues.   This is a growing concern considered that fact that about 1% of the Americans currently earn twice as much as the 38% of the American in the bottom of the ladder. (NCCP, 2008) There is also a growing barrier to upward mobility.   This is manifested not only in the rising child poverty but also in the preclusive real estate and the rising rate of inflation. There is a growing cost of health care, energy, and others. Healthcare for children is a concern in the country with the No Child Left Behind program struggling to meet its objectives and provide affordable healthcare cost to American children. It is still estimated that there are more children in low income families who are not insured with any medical insurance, and who still fail to meet the entry criteria to No Child Left Behind program. Gussow (1994) estimate that about 13 million children in the united states still live in   homes with low access to food supply.   Researches have established a direct link between lack of enough food supply, malnutrition and poor health status among children. Although there are conflicting figures on the rate of malnutrition in the country, it is evident that children from the low income families have been experiencing one from of malnutrition or the other. While the prevailing data gives very little evidence of existence of extreme hunger, there is enough data to suggest that majority of American children living in poverty have deficient of one mineral or the other. (NCCP, 2008) Miller and Koreman (1994) shows that the situation is compounded by the fact that we have been caught up in double tragedy of malnutrition. While a good segment of American children are living in relative poverty, the upper segment is living in affluence with a high rate of lifestyle disease. However, data fails to distinguish between the two factors although it is evident that malnutrition problems like overweight and obesity are prevalent in both the affluent and the poor segment of the society. While some studies suggests that low income family children have a higher rate of overweight and obesity, other studies have shown contradicting results. Whichever the case we have to understand that over nutrition or under nutrition both express a health challenge manifested in American children. Conclusion Despite the government effort to deal with poverty, child poverty in United States remains a challenge. The trend is worrying despite the efforts made we are slipping to a dangerous situation. The population of children living below the federal poverty line has been on the rise. It is time that the government realized that this is a problem we are facing and therefore come up with strategies to address it. The country need to take changes in the social system in order to address the plight of children well in providing of basic necessities. Some programs like No Child Left Behind need to be reviewed in order to accommodate more children. Unless we take the problem of our children as ours, the problem of child poverty will stay here with us.