Role of Financialization in the Financial Crisis Assignment

Role of Financialization in the Financial Crisis - Assignment Example The severe turbulence that followed the financial crisis of 2007-2010 has raised concerns regarding the level at which the global financial system is ready to face critical failures. Moreover, the question of whether the financialization process, which has been promoted worldwide more than a decade, has been related to the above crisis has not been avoided. In fact, there are many indications that the specific process had a major role in the financial crisis of 2007-2010. Its potential involvement in a new crisis of such kind cannot be rejected. The current paper examines the role of the financialization process in the banking crisis of 2007-2010. Moreover, the potential relationship of the pursuit of shareholder value and the ‘new economy boom’ with the process of financialization is also explored. The examination of the literature published on the specific field has led to the assumption that the relationship between the above-mentioned events and frameworks is strong. At the next level, another issue is also discussed: the level at which investor behavior can influence corporate strategy and performance. It is proved that the involvement of shareholder value in corporate strategy and performance can be significantly influencing the corporate decisions on critical issues, as for example the strategies that the firm will follow for facing the expansion of financialization, as a global economic trend. Financialization, as a sociological and economic trend, is not a recent phenomenon. In fact, in accordance with Orhangazi (2008), three phases can be identified in the development of financialization: the first one represents the pre-1980 period during which financialization was based on a ‘long waves approach’ (Arrighi 1994 in Orhangazi 2008, p.41). In the years that followed in 1980, the financialization was related to the concept of neoliberalism (Orhangazi 2008). Recently, financialization has been related to the global financial mark ets (Orhangazi 2008). The view of Lucarelli (2011) that â€Å"financialization is related to the capitalism’ (Lucarelli, 2011, p.111) seems to be the most effective description of financialization, as a trend influencing the performance of the global financial system. On the other hand, Krippner (2011) refers to financialization as the ‘growing importance of financial activities as a source of profits in the economy’ (Krippner 2011, p.27). 2.2 The relationship between financialization, the banking crisis, the pursuit of shareholder value and the ‘new economy’ boom. As noted above, the financialization focused on the use of financial activities as the main source of profit. At the next level, financialization is an economic trend accepted and promoted globally, which means that it can affect the global financial system. The role of the financialization in the structure and the development of financial transactions worldwide has been revealed through the banking crisis of 2007-2010 (Foster, 2007). It was because of that crisis that the role of financialization for financial systems internationally has been set under consideration (United Nations, 2009). Financialization should be considered as a key cause of the appearance and the expansion of the 2007-2010 crisis, because of the following reasons: a) in the context of financialization the accumulation of profit worldwide has been related to financial activities; the exchange of money in its various forms has become a key method for achieving profit. In this way, the traditional method for gaining money, the work as physical activity has lost its value.

Negative Consequences of Economic Growth in Bangladesh Essay

Negative Consequences of Economic Growth in Bangladesh - Essay Example Environmental damage is also inextricably linked to two widening gaps that go hand-in-hand: the gap between rich and poor and the gap between developed and developing countries (Stenzel, 2002). This is commonly referred to as the imbalance in a nation's income distribution. Economic growth is seen to widen the gap between the income of rich and poor. Kuznets (1971) cites that one intriguing aspect of structural change brought by economic growth is that it represents shifts in the relative shares in the economy of the specific population groups attached to particular production sectors. Economic growth perforce brings about a decline in the relative position of one group after another - of farmers, of small scale producers, of landowners - a change not easily accepted, and, in fact, as history teaches us, often resisted. The continuous disturbance of pre-existing relative position of the several economic groups is pregnant with conflict - despite the rises in absolute income or product common to all groups.3 In the case of less developed countries, Kuznets quotes, may require modifications in the available stock of material technology, and probably even greater innovations in political and social structure.4 Also, Stenzel cites that despite increasing wealth on a global scale, about half of the world's people live on $2 a day or less, and at least 1.2 million people live on less than $1 a day. The Case of Bangladesh The table below shows economic growth as production of goods and services within the Bangladesh's boundaries is growing positively since 1990-2005. It should be noted that in 2005, the country's GDP represents a 110% change from the 1990 level. However, Landesman (1994) cites that intensive shrimp culture in Bangladesh5 might lead to the loss of mangrove habitat as most shrimp farming in Southeast Asia takes place on reclaimed mangrove forests. It must be noted that mangrove forests are critically important habitats for the reproduction and growth of shrimp postlarvae and juveniles and their replacement by shrimp ponds will adversely affect the recruitment of larval fish and shrimp in the areas concerned. Also, as Bangladesh is still dependent on collecting wild shrimp post-larvae to stock shrimp ponds, depletion of local populations of shrimp postlarvae can occur due to this collecting (Bashirullah 1989, Turner 1986). In Bangladesh, collectors of shrimp postlarvae also catch fish larvae and small invertebrates. This bycatch is allowed to die on the beach. Practices such as this may adversely affect populations of other fish and invertebrates in the Bay of Bengal. In terms of income distribution, we can see that Bangladesh bulk of the country's wealth is concentrated in the hands of the upper class. The most recent data on income distribution cites that during 2006, which the highest 10% in the population accounts for almost 28.96% of the total income while the lowest 10% holds a meager 3%. This is further aggravated by the recent economic development which puts a high concentration of growth in income in the hands of elite (Economy of Bangladesh, 2006). Eutrophication of surrounding coastal areas from nutrients discharged in shrimp pond effluents is a looming problem on the water areas concerned in Bangladesh, which is especially true for intensive shrimp culture systems for the high feeding, fertilization and water exchange rates require frequent discharge

Environmental focus - The Rights of Nature Latin America Essay

Environmental focus - The Rights of Nature Latin America - Essay Example Sumak Kawsay is a Quechua language, which is being spoken by the South American people. Sumak Kawsay is a Latin term, wherein Sumak means good and Kawsay means living, hence together the word means good living. Environmental right concept has been introduced in the Bolivian Constitution along with the Sumak Kawsay conception with minor variation. However, the same constitution confers the right to the people to exploit the nature. Therefore, there lays tension amid the welfare affairs of state and the right of nature1. According to Eckersley, an Australian researcher, deciphered that environmental catastrophe is occurring in every count. In his research, he pointed out the conglomeration of political, environmental and ecological thoughts that bridge the gap persists amongst these and also outlines the green political viewpoint. He also pointed out that environmental calamity is a threat to human life, which is not regarded as a scientific trouble, but involves literary and trait structure. He further emphasised the need for trans-evaluation and undergoing through new eco-centrically based thoughts and assessment2. The Western world witnessed the need to protect the environment from varied catastrophes. Pesticides, nuclear control plants, noxious squander dumps and large size industrial contamination among others contribute into catastrophic destruction of the nature. In the present scenario, political and environmental theory are blended together to develop environment based consciousness amid the people. The environment concept is the basis of the current legislation made by distinct nations while legislating in any particular affair3. With this concern, the essay intends to make an environmental focus on the rights of the nature with special attention to Bolivia. Various significant aspects including depicting about the representativeness of the nature, factors promoted the constitutional change to include the rights of nature in

Denver Art Museum Essay Example for Free

Denver Art Museum Essay The Denver Art Museum is one of the few luxuries Colorado residents and tourists alike, have the pleasure of experiencing. It is truly a world class facility, from the outside in. Within the confines of its walls reside masterpieces from the likes of Monet, Degas, and Picasso. There is a broad spectrum of art from all corners of the globe represented here. This includes art from various European nations, as well as that of far eastern cultures to American Indian design. Each exhibit presented work which seemed to grasp and shed light onto the respective time period or culture represented. I found three particular compositions to be representative of their era or genre. The first of which is an oil painting on a wood panel by an Englishman named William Larkin to be completed in 1610. This piece, entitled Mary Radclyffe, is a portrait of King James’s wife, Mary Radclyffe. It is very obvious to see, after reviewing the Roman artistic style of idealizing an individual in a realistic way, that this is a idealized view of Radclyffe. As a matter of fact, William Larkin was one of the last artists to work in this refined, elegant portrait style of Elizabeth I. The clothing Radclyffe is donning in the aforementioned painting is typical of the high class during the time it was completed in the early 17th century. This piece can also be classified as having a Baroque nature about it. The Baroque cultural movement pertained to not only art, but music, dance, and literature as well. The artistic style emits a sense of awe and a tremendous attention to detail which is seldom mistaken for any other method. This Idealized style derives from Plato and the â€Å"higher reality of eternal truths† which he refers to in his book, the Theory of Forms. â€Å"Plato’s theory of forms proposes that all sensory objects are imitations of Forms, which, like the simplest mathematical equations, are imperishable and forever true. † (Fiero I: 98) The next piece which caught my attention is a sculpture I have always been intrigued in. Shiva, King of Dancers, or Shiva Nataraja, comes from Tamil Nadu during the Chola Dynasty, in India. The Chola Dynasty enjoyed a long ime span of power from the late 9th century all the way up to the 13th century. The bronze sculpture standing 36’ 7/8† tall, encompasses radial balance contains a strong symbolic message, typical of most Hindu art. This iconic statue portrays Shiva dancing, with his right foot supported by a crouching figure, and his left elegantly raised in the air. The figure appears to have four arms, so it is clearly not meant to be realistic. Shiva is understood to be two conflicting things. One side of him signifies total tranquility, whereas he is also filled with total activity and energy on the other side. Not only does this depict what many people from this culture aspire attain, but people in many different cultures all over the globe as well. Although this particular work was made centuries after the Greeks revolutionized portraying the human body in sculpture, this freestanding figure was almost directly influenced by the Greeks. Not only for the fact that it is freestanding and praises the individual, but also because it pays homage to something greater than the human. As it says in the text, The Humanistic Tradition, â€Å"they paid perpetual homage to the gods. (Fiero I: 109) Not only that, but the perfection of the piece also comes from the Archaic period in Greek sculpture. More specifically, â€Å"the quest for realism was offset by the will to idealize form. (Fiero I: 109) This is also an idea from the philosopher Plato in his book, Theory of Forms. At the end of my journey of cultural enlightenment, I felt an obligation to take a gander at the African art exhibit because of how unique the style is compared to the rest of the museum. While there were many interesting works in the gallery, a certain piece done by Moyo Ogundipe caught my eye from a distance. Perhaps one of the better known images within the gallery, Soliloquy: Life’s Fragile Frictions was completed in 1997 and was done in acrylic on a 54’ x 78’ canvas. The cool collection of analogous colors really drew me into the image. The content in the piece is said to be inspired by the Egungun Festival in the village where the artist grew up. Some of the influences were drama, acrobatics, poetry, mime and pantomime, and black magic all play a role in creating the mood and atmosphere of this piece. Although this piece isn’t an ancient African work of art, it embodies my view of African art for its vivid color selection, organic shapes, chaotic nature, and intricate detail in the patterns. To me, this composition is reminiscent of an Egyptian scene done on the tomb walls in the 14th century. It tells a story in a similar fashion which the Egyptians did and depict the importance of the figure by size in a comparable way as well. This style is referred to as conceptual â€Å"that is, based on ideas rather than perceptual†¦ based on visual evidence. † (Fiero I: 34) Each piece I reviewed from the Denver Art Museum clearly depicted the transcendent nature of how art progresses. Each culture and movement reflect the ideals of the past through either subject matter, content, style, or technique. In many cases, philosophy and literature influenced the development of art especially Plato’s teachings. Overall, I felt more comfortable when I was in the North building because of not only the subject matter, but the architecture as well. Call me old fashioned, but I find that I appreciate art in a more intimate setting like the North building provides. From the wood floors, to the tighter confines of the vicinity between each piece, and the amount of information provided for each exhibit, I felt like I walked away with a deeper appreciation for the art in this building. The Hamilton building gave a unique presentation of each exhibit, though. I enjoyed the abstract architecture although I don’t think it is very practical for a museum. The next time I venture out to the museum, I will definitely spend more time in the temporary exhibitions, as I did not even scope that specific area out.

Lateritic Soils in the Tropics: The Problems and Management Possibiliti

Lateritic Soils in the Tropics: The Problems and Management Possibilities The soil name "laterite" comes from a Latin word "later" meaning brick. It is an appropriate name, as soils under this classification are characterized by forming hard, impenetrable and often irreversible pans when dried (Soils and Soil Fertility 1993). Lateritic soils are also characterized by their low soil fertility. Due to the high rate of weathering, and resulting low charge minerals, the soil is unable to retain the nutrients needed for plant growth (Ibid., Coleman 1989). Laterite soils have many names. In the United Nations Food and Agriculture Organization they have been named Ferralsols and Acrisols, and in the United States Department of Agriculture Soil Taxonomy, Oxisols and Ultisols. Ferralsols, like Oxisols have high iron and aluminum oxide contents, whereas Acrisols and Ultisols are characterized by extreme stages of weathering (Oades 1989). Below, we take a look at the formation of lateritic soils, the importance of biota for soil fertility and some suggestions for laterite management. Soil Formation Both climate and parent material are important in the pedogenic processes which go into the formation of lateritic soils. Laterite soils are formed in moist, well-drained, tropical conditions (usually in areas with a significant dry season) on a variety of different types of rocks with high iron content. (See Appendix 1.) Initial stages of weathering lead to the formation of kaolinite and iron oxyhydroxides. Micro and macro-level movements of iron through soil minerals also begins to occur (Nahon 1986). Next, mottled clay layers are formed. Iron oxyhydroxides continue to migrate within the soil profile, becoming more crysta... ...69 - 190. - Oades, J. Malcolm, Gavin P. Gillman, and Goro Uehara with Nguyen V. Hue, Meine van Noordwijk, G. Philip Robertson and Koji Wada. " Interactions of Soil Organic Matter and Variable-Charge Clays" IN: " In: David C. Coleman, J. Malcolm Oades and Goro Uehara (eds.), Dynamics of Soil Organic Matter in Tropical Ecosystems: Hawaii, NifTAL Project University of Hwawii Press, 1989. p. 69 - 95. - Soil and Water Quality: An Agenda For Agriculture, Committee on Long-Range Soil and Water Conservation, Board on Agriculture., National Research Council: Washington D.C., National Academy Press, 1993. p. 218. - Soils and Soil Fertility, Frederick R. Troeh and Louis M. Thompson (eds.), New York, Oxford University Press, 1993. p. 311, 321 - 322. - Wambeke, Armand Van. Soils of the Tropics: Properties and Appraisal: New York, McGraw Hill Inc, 1992. p. 139 - 161.

Goal Statement Essay

Degree program: Master of Science in Mental Health Counseling with a specialization in Trauma and Crisis Counseling Personal/Professional Goals My professional goal is to obtain Walden’s Master’s degree in mental health counseling with a specialization in trauma and crisis and become a Licensed Professional Counselor (LPC). I would especially like to work with soldiers who have been affected by frequent deployments and their families to help them overcome their personal and social problems that have, without a doubt, strong negative influences on their lives. Throughout my life I have always been drawn to opportunities that helped others lead a healthier and happier life. As a military spouse I have witnessed the need the military community has for qualified mental health professionals and decided to pursue the counseling profession to give back to the community that has provided my family with so much. My own personal experiences as a military spouse have helped me become quite familiar with the lifestyle and many challenges members of the military and their families face. I feel my own experiences would put me in the unique position to truly understand the conflicts of my clients, which will in turn increase credibility with my clients, and should greatly contribute to a good client-therapist relationship. My background allows for a close bond with the community I would like to work with. I feel I could make a significant difference in military families’ lives with the aid of a degree in mental health counseling. Personal Qualities I possess various people skills that are, in my opinion, vital to mental health professionals in terms of perceptual, interpersonal, and problem-solving skills. I am a very diligent and attentive person who deeply cares for others. It is important for me to help others overcome their own difficulties or lighten their burdens through therapy. Through my own experiences in the past I have learned happiness and fulfillment start in one’s own heart and, most importantly, one’s own mind. The profession of mental health counselor will provide me with the opportunity to contribute to my community in a meaningful way. Why Walden? As a working mother and wife, I feel the online format of learning has provided me with the greatest amount of opportunities. Walden’s quality  mental health counseling program is exactly what I was looking for because it allows me to continue to support my family financially while pursuing an excellent education. I would be honored to become part of Walden University’s pool of students, and I am looking forward to the deep immersion in the study of counseling strategies, intervention models, and the early diagnosis and prevention of problems. Thank you for your consideration.

Liberty for the High School Student

Competition is becoming a key part of high school academics. It seems as if everyday it becomes harder to be accepted into the college of your dreams. This is causing high stress levels for teenagers. what with worrying about looking good, keeping friends, doing well in school, and the growing pressure to plan your life by the time you're 16, it's amazing that we all haven't gone crazy. Due to high stress caused by homework, and lack of sleep, high school students should receive lighter loads from schools. The students of today are stressed, not from the assumed bullying or peer pressure, but from homework and tests.â€Å"Most of the stress is from academics as opposed to the typical assumption of bullying or social issues. † States an article from Mind Shift. Parents assume that things like that are the cause of the stress, but the real problem is homework. Then there is the case of Nora. A normal high school student, pressured with doing perfectly in school. When she receive d her grade card and saw that she did not have a perfect 4. 0, she lost it. Her mother found her in tears, and realized that it was time to Logan 2 intervene. Nora had been increasingly irritable and tired, and she also suffered from headaches. She is not the only one.Students everywhere, including myself and friends of mine, are tired, frustrated and sick. While stress can be healthy for our body, too much can severely harm us. According to an article on the website WebMd, reviewed by Doctor Joseph Goldberg, large amounts of stress cause headaches, higher blood pressure, heart and skin issues and conditions, and depression- the list goes on. These symptoms are not just found in adults, they are also found in teenagers. High stress levels early on in life will only lead to physical and mental problems in the future. The mental state of teenagers justifies that our load is too heavy.It is not an unknown fact that students these days do not have a lot of free time. We wake up at six, go to school, spend all day working, have extra curriculars after school, and all in all, most students do not end up returning home until around seven o’clock at night. We are then expected to help with dinner, help clean up dinner, and take care of other chores before we spend two to three hours working on homework assigned during the day. At this rate, the typical high school student is not getting to bed until close to 11 o’clock. Thus, forcing them to cope with six hours of sleep per night; far from what is needed.Sleep is extremely important for teenagers. It affects our growth, our mental health, and our safety behind the wheel- it is food for our brain. The National Sleep Foundation suggests that teenagers sleep for about 9 ? hours per night; saying that 8 ? works for some. But in all reality, this is far from the amount of sleep teenagers are actually getting. The NSF found Logan 3 that only %15 of teenagers are getting that 8 ? hours. So, how does this lack o f sleep affect our behavior, and success in school? It is shown that lack of sleep causes aggressive behaviors and a reduced immune system.Therefore, we are sick more often causing us to miss school. It is also shown that it becomes harder to focus, and listen. therefore, we do not learn. How do teachers expect us to complete tasking assignments if we are unable to focus, learn, and listen? Our lack of sleep, and increasingly reduced amounts of free time indicates the need for less time-consuming work. Parents and teachers, somehow, have come to believe that all of this is â€Å"shaping us for the real world†. Please explain to me how raising our stress levels and, ultimately, harming our physical and mental health is helping us?Today, we are expected to be able to manage an almost adult life by the time we are sixteen, but we need to spend more time learning and exploring all of our options. If it has become the norm to change majors three time before you graduate college, t hen something is severely wrong with current society. Teenagers who are over loaded with after school work are becoming less and less mentally and physically stable. High schools can approach a new style of teaching, and issue curriculums that include less after school work. Issuing new types of curriculums including less after school work would most effectively help resolve the problems.I highly doubt that the cost of this solution would be very high at all. I believe that states could afford this. The general public will find the solution acceptable. When parents and teachers see how bad the situation is becoming, they will be able to convince policy makers to initiate Logan 4 the change. The parents of the students are the ones who really need to change. They are responsible for realizing the severity of the situation. As the writer of this piece I hope to show the public that times are changing; and not necessarily for the better. It is my responsibility to show this.