The Scarlet Letter Questions for Discussion

The Scarlet Letter is a seminal work of American literature written by New Englander Nathaniel Hawthorne and published in 1850. It tells the story of Hester Prynne, a seamstress newly arrived in the New World from England, whose husband, Roger Chillingworth, is presumed dead. She and local pastor Arthur Dimmesdale have a romantic interlude, and Hester gives birth to their daughter, Pearl. Hester is  convicted of adultery, a serious crime in the time period of the book, and sentenced to wear the scarlet letter A on her clothing for the rest of her life. Hawthorne wrote The Scarlet Letter more than a century after the events in the novel would have occurred, but it is not difficult to discern his contempt for Bostons Puritans and their rigid religious views. Thinking through some key passages and the questions below will help deepen your understanding of the book. Questions for Discussion Consider the following questions as you learn about  The Scarlet Letter.  Whether youre studying for an exam or leading a book club, these discussion questions will strengthen your understanding of the novel. What is significant about the novels title?The Scarlet Letter is considered a romance by many literary scholars. Do you think that is an accurate categorization? Why or why not?Is Hester Prynne an admirable character? Why or why not?How does Hester evolve through the course of the story?How do we learn the true character of Roger Chillingworth? Is he believable as a villain?Is Arthur Dimmesdale an admirable character? How would you describe him and his relationship with Hester?What does Pearl symbolize? How is her name significant?What is the significance of Pearl not recognizing Hester without her scarlet A?What is the moral statement Hawthorne is making throughout The Scarlet Letter?Do you agree with what how Hawthorne interprets the shortcomings of Puritan society?What are some symbols in The Scarlet Letter? How do they relate to the plot and characters?Does the story end the way you expected? Whats significant about the novels ending?Would you consider The Scarlet Letter to be a work of feminist literature? Why or why not?  How essential are the settings, both geographical and temporal, to the story? Could the story have taken place anywhere else or in any other time period?Does this novel give you a better appreciation for how women were treated in early New England? Does it give you a new perspective on other events from that regions history, such as the Salem Witch Trials?

Definition Argument Essay On The Dutch Country Farmers Market

Definition Argument Essay on the Dutch Country Farmers Market According to Elijah Anderson, a professor sociology at Yale University and writer of the book, The Cosmopolitan Canopy: Race and Civility in Everyday Life, he asserts that often people divert their gazes, looking up, looking down, looking away, and feign ignorance of divers mix of strangers they encounter. I agree with Anderson when he states this because in most places such as stores, malls, etc. people are more focused on getting what they came for and avoiding anything that may effect that including conversation with others. Anderson also considers a Cosmopolitan Canopy to be places where diverse people gather, and feel comfortable striking up something surprisingly intimate conversations. The Dutch Country Farmers Market is a Cosmopolitan Canopy because of the variety of social class, ethnicity, and lifestyles that interacts with one another. The Dutch Market is located in Laurel Maryland. It is open Thursday through Saturday for about seven to eleven hours each day. Products ma inly sold there is fresh poultry, meats, vegetables, dairy, and baked goods. They also sell homemade furniture and crafts. The employees mainly consist of members from the Dutch Amish families, who travel as groups to and from Pennsylvania with fresh products. Arriving at the market at any time of the day that this establishment is open is a sight to see, Cars are everywhere circling the parking lot searching for a space just to getShow MoreRelatedSustainable Development, Poverty and Population Growth4551 Words   |  19 Pageswithout compromising the ability of future generations to meet their own needs† (Authorstream, 2010, p 1:  ¶ 2). This essay concentrates on how population growth and poverty issues are interrelated with each other as well as being related to the concept of sustainable development. 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Online Development of Web Application Free-Samples for Students

Question: Prepare a Project Charter. Answer: Project Charter: Project Title: The project manager has proposed the project of online development of web application for the Social media research centre. Starting date of the project: The scheduled date for starting the project is 28 February, 2017. Completion of the project: The scheduled date of completing the project is 9 February, 2018. Budget information: The owner of the project has assigned the 50000 AUD for completing the project of developing online application for social media research centre. Project manager: Anthony Bruce is the project manager and the email ID is bruceanthony@gmail..com Project Objective: The project is proposed with the objective of facilitating the research developers to share their views on the research proposal. The online application for the social media research centre helps in establishing communication links between research developers who participates in the research centre by using the platform of social media. The masters, PHD, and doctorate students are facilitated by the application of social media research centre (Nugroho, 2014). They can publish and present their research proposal on the web portal. The analysis of the current trends helps in updating the online web portals which provides benefit to the research developers of accessing relevant information for the research proposal which helps in developing high level research report. The division of roles and responsibilities should be accomplished for overcoming the condition of chaos. The pressure is built by the senior executives to build the application which is capable of developing good relations hip between different research developers (Smith, 2013). The social media is collaborated with the research centre to provide a new scenario to the research development program. Measurable organizational value: The remotely situated research developers can contact with their allocated supervisor on the research proposal for the formulation of high level research proposal report. The social media research centre is better and cheaper means of sharing information with the remotely situated research developers (Richard, 2013). The factors which are responsible for measuring the organizational value are stated below: The research developers can present their ideas by using the concept of social media platform with the online research centre. The user can directly choose the research proposal from the drop down list which is displayed on the web portal. The categorization of the information helps in providing the better user interface. The capability of updating the portal according changing trends in the market The interactive user interface helps in attracting the research developers. Direct communication can be carried out by using the online research centre The value of the research centre can be measured in terms of roles and responsibilities presented to the stakeholders. The project manager proposed the project of developing online research centre by merging the fundamental features of social media (Buhalis, 2012). The concept of social media keeps the application ahead of their competitors. The increasing demand of online application helps in optimizing the profit of the research centre. The information on the web portal is updated by the application manager by using his credentials for intranet login. The event manager analyse the market trends in the research development programs and provides the relevant information to the application manager to update it on the social media research centre portal. The research developers retrieve, fetch, and store information related to their project on the central database server for future use (Abdullah, 2013). The project owner analyse the functional and non-functional requirement for schedul ing the budget of the project. The analysis of the current trends helps in updating the online web portals which provides benefit to the research developers of accessing relevant information for the research proposal which helps in developing high level research report. The proposal of social media enhances the quality of online research development program. The capability of easy accessing f information makes the application ahead of its competitors.

Metadata and Tools

Introduction As businesses globally become complex, so is the type and amount of data they use. Organizations are finding master data to be of importance in their day-to-day operations and for future business predictions (Loshin, 2008).Advertising We will write a custom essay sample on Metadata and Tools specifically for you for only $16.05 $11/page Learn More Metadata and tools are essential in utilization of large sets of data in any company. This essay will use GlaxoSmithKline plc (GSK) as the company. This assignment will create a plan to be followed in GSK. The plan will give examples of such metadata in GSK. The essay will also discuss tools to be used in the project. Finally, the essay will look at the factors that GSK will address to implement the project successfully, particularly about the choice of tools. GSK is a company that deals with pharmaceutical products, with markets across the continents. It was formed in 2000 as a result of merging t wo firms. These were Glaxo Wellcome and SmithKline Beecham Company. It is one of the best performing companies in the world. Plan Metadata is defined as data that give information about other data (Loshin, 2008). GSK is a complex and multinational company with huge amounts of data. In order to create metadata, it is prudent to comprehend the characteristics of the data to be described and standards to be used. The process involves the use of codes in disk files (Otto, Hà ¼ner Ãâ€"sterle, 2012). For one set of data set, there is only a file in the computer disk describing it. There are four steps involved in creating metadata. The fist step involves the collection of information regarding the data to be described. This is followed by creation of a file having the metadata. The metadata should be arranged according to the standards used (Loshin, 2008). The third step involves arranging the information in the files to achieve the required structure. The final step involves testing t he completeness of the metadata. The step will verify that the subject under description is described fully by the information in the disk file (Otto et al., 2012). Metadata to be created Metadata is based on metadata stacks (Loshin, 2008). A metadata stack is an organization of information flows (data objects) from top to bottom. Metadata in GSK will describe the data entered about the pharmaceutical products that the company manufactures and markets. For example, a product like Augmentin (antibiotic produced by the company), its metadata would include where it was sold, date, the company representative who sold and the pricing. The customer information would also be described.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A metadata stack for this application in GSK would involve five primary components. The first is a store in which external information regarding the product will be sa ved. The second is an internal store which creates a link between the product records in the store and other applications in the company master data. The third component is a co-ordinating store that fetches information from all the stores in the system. The fourth component is a model giving information about what is found in the stores. The final component is an assembly of objects under description. This final component is necessary in the management of objects about the pharmaceutical products in GSK. All the five components must be used to describe the metadata in the stack. ETL tools Advance in modernization of systems, complex warehousing and increase in the number of products that GSK deals with requires that complex tools for extracting, transforming and locating data be used. This will ensure that there is sharing of the required information in time. However, before the information can be moved, it has to be extracted from the file records and transformed accordingly. The ETL tools that GSK will use can either be developed by technical experts in the company from scratch or be bought from software vendors. The two sources have both merits and demerits that should be analyzed by the project implementing team. Factors Tools are important for successful implementation of a master data management project (Silvola, Jaaskelainen, Kropsu-Vehkapera Haapasalo, 2011). Several factors will affect the selection of the master data management tools at GSK. One of the factors is the complexity of the project envisaged by the management. A complex project will require sophisticated tools while a simple one will need simple tools. The amount of money that the company will be ready to spend on the project will also determine the tools that will be used. If the project budget will be accommodative enough, then complex tools will be used to implement the project. The personnel will also play a critical role in the selection of master data management tools (Silvola et a l., 2011). The personnel working with GSK will give their views on the system that they can operate. Thus, their input will be necessary because they will form part of the end-users. If the number of personnel who are IT-compliant is big, then the tools to be used can be complex. However, the interests of all the personnel will be considered before selecting the tools for the project.Advertising We will write a custom essay sample on Metadata and Tools specifically for you for only $16.05 $11/page Learn More References Loshin, D. (2008). Master data management. Burlington, MA: Morgan Kaufmann. Otto, B., Hà ¼ner, K. M., Ãâ€"sterle, H. (2012). Toward a functional reference model for master data quality management. Information Systems and e-Business  Management, 10(3), 395-425. Silvola, R., Jaaskelainen, O., Kropsu-Vehkapera, H., Haapasalo, H. (2011). Managing one master data–challenges and preconditions. Industrial Management Data  Systems , 111(1), 146-162. This essay on Metadata and Tools was written and submitted by user Shatterstar 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.

Impact of Globalization on Foreign Policy Requirements essays

Impact of Globalization on Foreign Policy Requirements essays Authors and writers of varying interests and specializations have expressed their thoughts about globalization that it is not a new thing but rather a continuous and evolving process happening at different eras and places. Thus, Dixon states in Globalization and American Foreign Policy (2005): Globalization is not a new development; it has been progressing for most of human history Globalization is the integration of human activity across geographic space. This covers many areas of human activity (economics, warfare, social and cultural contact, environment, etc.). American foreign policy as a result of globalization has stood the test of time considering todays only superpower has been instrumental in the rise of globalization throughout history. As a result of the current globalization atmosphere, U.S. foreign policy is constantly pulled in two directions: groups in the US that are poised to gain from globalization benefit from the process, and groups that are harmed by globalizat ion press for political protection (Dixon, 2005). In all certainties, American foreign policy should and must look at protecting the American populace without curtailing the growth and development of partner nations in the global arena. This is sometimes easier said than done but the point of American governance is looking after the welfare of its citizenry first before others. In The Foreign Policy the U.S. Needs, Hoffmann outlines some of the important facets needed in the present American foreign policy to meet todays globalization process, some of those Hoffmann listed are (Hoffmann, 2006): Improve America's own economic and moral condition, a change that would be well received abroad; a return to the rule of law and to the protection of civil liberties, and an end to efforts to escape from the obligations of international law in the fight against terrorism; The US should accept, despite its flaws, the K...

Field Trip Tips for Safe, Fun Learning Success

Field Trip Tips for Safe, Fun Learning Success New teachers might naively think that field trips are easier and more fun than a typical day in the classroom. But throw in crises like a lost group of children or wasp stings, and field trips can go from fun to frantic in no time. But if you adjust your expectations you can come up with a new, more practical way to approach field trips and minimize the chances of drama and mayhem. Tips for a Successful Field Trip Follow these field trip tips and youll likely create fun learning adventures for your students: Explicitly discuss field trip behavior rules with your students beforehand. Teach, model, and review appropriate field trip behavior with your students for at least a week before the big event. Drill into their heads that field trips are not the time or place to mess around and that any aberrant behavior will result in non-participation in any future field trips that school year. Sound serious and back it up with consequences as needed. Its good to have your students scared of testing the boundaries on field trips. Emphasize that they are representing our schools reputation when they are off-campus and that we want to present our best behavior to the outside world. Make it a point of pride and reward them afterward for a job well done.Give your students a learning task ahead of time. Your students should show up for the field trip with a base of knowledge on the subject at hand, as well as questions to answer before returning to the classroom. Spend some time in the weeks before the field trip discussing the subject matter. Review a list of questions they will be looking to answer during the field trip. This will keep them informed, engaged, and focused on learning all day long. Choose parent chaperones wisely. Field trips require as many adult eyes and ears as you can get, but unfortunately, you cant be everywhere at once. From the first day of school, observe the parents of your students closely, looking for signs of responsibility, firmness, and maturity. A lax or careless parent can be your worst nightmare on a field trip, so choose your parental allies wisely. That way, youll reap the benefits of having adult partners in the field trip process.Make sure you have all the necessary medications. Talk to the school nurse and procure any and all medications that your students usually take during the day. While on the field trip, make sure you administer the medications accordingly. If you have students will allergies, you may need to get trained on how to use an EpiPen. If so, the student involved will need to stay with you at all times.Arrive at school early on field trip day. The students will be excited and antsy, ready to go. Youll want to greet the chap erones and give them instructions for the day. It takes some time to organize the sack lunches and ensure that everyone has what they need for the day. And one last pep talk on appropriate behavior never hurt anybody. Give your chaperones the tools they need to succeed. Make nametags for all chaperones and students. Create a cheat sheet of the days itinerary, special rules, your cell phone number, and the names of all kids in each chaperones group; distribute these sheets to each adult on the field trip. Procure and label grocery bags that each chaperone can use to carry the groups sack lunches. Consider getting a little thank-you gift for each chaperone, or treat them to lunch that day.Be proactive with regards to challenging students. If you have a student who causes trouble regularly in the classroom, its safe to assume he or she will cause at least five times more trouble in public. If possible, ask his or her parent to be a chaperone. That will usually limit any potential problems. Also, when you are making groups, split any problem pairs into separate groups. This is a good policy for troublemakers, chatty kids, or bickering frenemies. And its probably best to keep the most challenging stude nts in your own group, rather than pawning them off on an unsuspecting parent chaperone. Count all day. As the teacher, you will likely spend most of your day counting heads and making sure everyone is accounted for. Obviously, the worst thing that can occur on a field trip is losing a student. So count accurately and often. Enlist the help of chaperones in this task, but do it yourself too, for your own peace of mind. Keeping track of each and every student is the number one priority of field trip day.Do a debriefing when you return to the classroom. If you have a few extra minutes after the field trip and before dismissal from school, put on some soothing classical music and have the students draw about what they saw and learned that day. It gives them a chance to decompress and review what they experienced. The next day, its a good idea to do a more active and in-depth review of the field trip material, extending the learning further and connecting it to what youre working on in the classroom.Write thank-you notes after the field trip. Lead a class language arts lesso n the day after your field trip, formally thanking the people who hosted your group. This serves as an etiquette lesson for your students and helps form your schools good reputation at the field trip destination. In future years, this goodwill could translate into prime perks for your school. With proper planning and a positive attitude, field trips can be unique ways to explore the outside world with your students. Stay flexible and always have a Plan B, and you should do just fine.

Social Issue Essay Example | Topics and Well Written Essays - 1750 words

Social Issue - Essay Example I. Thank You for Smoking At times, the feelings that sound produces is so compelling that albeit it contradicts we understand to be scientifically true, we hold to it anyhow. Although we understand, for instance, that since space is a vacuum sound cannot be transmitted in it, we are entirely obliged by the sounds of intergalactic battle or only spaceships travelling at perverting speed in almost every space. Conversely the explosion of a gunshot never sound as enjoyably long or loud in actual life as they do in Thank for Smoking Again with the bass cranked way up. Ultimately, in many of those great Hollywood musicals, the greatest songs are not really performed by Audrey Hepburn, but by little known singers like Marnie Nixon, whose faces and statures don’t seem as attractive on-screen a those of the key stars. The director of Thank you for Smoking was keen on resounding applause for Nick Naylor huge sum than the real viewers of extras is able to offer. Thank you for Smoking ha s sound tracks that augment sounds that are not effortlessly available as ambient noise. At times, sounds can be amplified to a film from the annals of sound effects. There is also sound prop, including the floor, which has offered different forms of footfalls. Thank you for Smoking rolls on the screen, and the sound artist has matched the type of sound the filmmaker wanted to the images projected (Leo 1). In some scenes the images changes from solid, sprightly colors that bounce off the screen to a darker, grainer, more dark and dowdy, less colorful appearance when the lead character is away from Loring’s. In general, the contrast works perfectly well, and the image actually appears its best whereas the setting is at the Loring household. The episodes, such like as standard shot of Juno after the start of the movie, appears exceptionally soft. A Reddish tint appears to find its way in at times, noticed frequently in skin tones. All the colors are a bit dreary, certainly on t he end of the spectrum and entirely opposite of Thank You For Smoking. Better yet, it is effectual and establishes the mood of the movie. The lighting Juno however will quite never be reference grade material on Blue ray, the lighting is definitely a plus, and recreates the mood of the movie with a laidback authority (Leo 1). The editing of the film Thank for Smoking has both its strong and weak points. But the continuity editing errors seem to surpass the editing strong points. For instance, in the last dinner meeting of the Merchants of Death, the gun lobbyist gets a share of pie with cheese on it. He takes a small bite; consequently the alcohol lobbyist assaults it with her fork for a bite, hauling all the cheese off and tumbling the little American flag in it. The next continuity mistake is shown in the subsequent shot; a lock up of the dessert, all the cheese is back on it and the flag is vertical again. Finally when they are editing their last dinner, the cheese atop the apple pie becomes unmelted and then melted continuously between shots. The other editing error that is seen in the movie is during the Subcommittee Hearing episode. The person slumped on the seat comfortably behind Nick Naylor, on the left, transforms repeatedly between scenes. Right before he is requested to come forward, the seat is taken by a certain lady

Family Price Fears as Petrol Predicted to Climb to $2 a Litre Article - 4

Family Price Fears as Petrol Predicted to Climb to $2 a Litre - Article Example Oil is a subject which has always been the centre of attention in economics. There are a plethora of theories and concepts which apply to this case study, but for brevity’s sake, we will limit ourselves to just a few. These include the following: The use of relevant diagrams will be made so as to establish the key facts unequivocally. Although there can be more concepts, the discussion will just be limited to inflation and its reasons, and the counteraction of the deteriorating price levels due to exchange rate differentials. We have already witnessed an oil crisis in the not so distant past when the prices went up to $147 per barrel in 2008. Back then, the prices were elevated primarily due to speculative positions are taken by investors and speculators. Today’s situation, however, it differs from the previous one due to the fact that this is an issue driven purely due to economics. The Middle East region accounts for a majority of the world’s oil-producing coun tries. Since this region has come under a lot of turmoil, the supply of oil has been witnessing bottlenecking and this has caused mass panic in the developed and developing economies the world over, to the point where alarmingly high buying is taking place. This aggressive buying by various nations  Ã‚  is driving the prices of crude oil higher and higher.   When we break it down on the most primitive levels, we see two things happening simultaneously. The first is that there is a very apparent shortage of oil as millions of barrels per days are not being produced. Secondly, these supply shocks are triggering investors, companies and even governments to buy large reserves of oil to ensure that they have adequate supply in the coming months.  

Terrorism and Technology Essay Example for Free

Terrorism and Technology Essay India and the United States, the world’s two largest democracies, are both vulnerable to terrorist attacks. As an Indian participant in the workshop said, â€Å"The most vulnerable states are those with open societies that tolerate dissent.† So far, India and the United States have faced rather different forms of terror attacks. Notwithstanding the terrorist threat, modern industrial societies have some offsetting advantages. Their global intelligence services and military presence, especially when they cooperate with one another, may keep the terror networks off balance, and may be able to damage some of them and interfere with their communications and money flows. Military action, or the threat of it, may discourage rogue states from supporting the terrorists. Nevertheless, highly efficient economies also acquire vulnerabilities and reduced resilience from the private sector’s reluctance to sacrifice efficiency to reduce catastrophic risks whose likelihood is difficult to estimated One area in which both India and the United States enjoy impressive capability is research and innovation. Through the application of available or new technologies, states can make targets less vulnerable, thus less attractive. They can limit the damage that may result from an attack, increase the speed of recovery, and provide forensic tools to identify the perpetrators. However, terrorist networks are led by well-educated and well-financed people who may also enjoy advanced technical skills. If supported by a government whose military establishment has developed weapons of mass destruction, these skills may be greatly amplified. Any technical strategy for responding to the threat of catastrophic terrorism must address this fact. †¢fissile nuclear materials, tactical nuclear weapons, and radiological materials †¢pathological organisms (human, plant, and animal) †¢military-type toxic chemical weapons †¢inflammable, toxic, and explosive chemicals and materials in industrial use †¢cyberattacks and electromagnetic pulse (EMP) attacks on electronic targets (telecoms, data, or command and control centers) †¢transportation systems used as delivery systems for weapons †¢explosives, either conventional or derived from fuel oil and nitrogen fertilizer (ammonium nitrate), for example Benefits- †¢revitalization of the public health service for serving the normal health needs of communities †¢technical capability to respond even faster and more effectively to natural biological threats such as Severe Acute Respiratory Syndrome (SARS), West Nile virus, and monkey pox virus †¢reduction in the number of illnesses caused by infection or poisoning of the food supply †¢more reliable electric power and other services, especially in the face of hurricanes, floods, and earthquakes †¢further improvements in the safety standards of the chemical industry †¢reduced incidence of cyber attacks by hackers and financial systems made more secure against theft and malicious damage †¢more efficient and timely tracking of goods in transit and billing for their content †¢reduced risk to fire, police, and emergency health professionals MITIGATION: THE ROLE OF SCIENCE AND TECHNOLOGY Nuclear and Radiological Threats If terrorists with a minimal level of scientific knowledge can acquire enough highly enriched uranium (HEU), they may be able to assemble an inefficient but effective nuclear weapon for detonation in a major city. The countries are now cooperating in safeguarding fissile material and blending down stocks of HEU, but progress is far too slow. Even more dangerous is the possible availability to terrorists of finished nuclear weapons either stolen and sold from nuclear states or provided by rogue states capable of making them. The public must be educated on the nature of radiological threats, both from Radiation Dispersal Devices (dirty bombs) and from damaged nuclear electric power plants and radioactive waste storage. Public ignorance about radiation hazards may induce a level of panic much more destructive than the radiation from which people may be fleeing.. Biological Threats to People and Their Food Supply Research on pathogenesis of infectious agents, and particularly on means for early detection of the presence of such pathogens before their symptomatic appearance, is important. Nations will stockpile vaccines against known diseases, but the threat of genetic modification—while perhaps beyond the capability of most terrorists but not of rogue states—requires a vigorous research effort to find solutions for detection, evaluation, and response.  In the United States the Center for Disease Control and Prevention (CDC) provides a robust capability in epidemiology, but there is no equivalent epidemiological response capability for possible biological attacks on agriculture and farm animals. Thus, measures to protect the food supply, and to provide decontamination after an attack, must have high priority. Toxic Chemicals, Explosives, and Flammable Materials . Dangerous chemicals in transit should be tracked and identified electronically. To ensure that only first responders, and not terrorists, know what the tank cars contain, the rail cars should be equipped with encrypted electronic identification. Sensor networks are required to detect and characterize dangerous materials, particularly when they are airborne. Self-analyzing filter systems for modern office buildings whose windows cannot be opened can not only protect the inhabitants but also detect and report the first presence of materials (such as aerosols) that may be trapped in improved filters. An example of long-range, basic research that could be highly beneficial would be the discovery of olfactory biosensors than can reach dog levels of sensitivity, some 10,000 times that of humans. Communications and Information Systems In the United States the most urgent issue is to reconfigure first responder communications so that police, fire, and medical personnel can communicate with one another and with the emergency operations centers. Inability to do so greatly aggravated loss of life, especially among firefighters, in the World Trade Center attacks. The main worry about cyber attacks is the possibility of their use, perhaps with electromagnetic pulse devices as well, to amplify the destructive effect of a conventional physical or biological attack.13 Cyber security is one of the top priority areas for research investment because private industry was, before September 11, 2001, largely content with the level of computer and network security available to it. A quite inadequate level of sophisticated talent is devoted to the goal of fully secure operating systems and networks. Transportation and Borders Sensor networks for inspection of goods and passengers crossing the nation’s  borders will be a research priority. The primary technical challenge will not be the design of sensors themselves, although much progress is needed in this area, but in the systems engineering of the networks of sensors together with data fusion and decision support software. Biometrics for more secure identification of individuals shows promise, and systems superior to the driver’s licenses and passports used by most travelers are promising. The range of threats to the transportation networks of a modern state is very great, and careful systems analysis is essential to identifying the weak points and finding the most effective and economical means of protecting them. Cities and Fixed Infrastructure The Emergency Operations Centers (EOC) in many large U.S. cities are quite vulnerable, not only to a destructive physical attack but to more indirect attacks on their ability to access data and to communicate through a cyber attack or electromagnetic pulse attack. Remedying these vulnerabilities must have high urgency; in many cases the centers will have to be relocated. Tragically, the EOC in New York City was located in a known target, the World Trade Center. Much research is already under way to analyze the structural characteristics of high-rise buildings that may make them much more vulnerable than necessary. Without waiting for this research to result in revised building codes, the expert panel recommended immediate adoption and extension, where appropriate, of European standards for fire and blast, which were much improved following World War II. As already noted, air intakes for large buildings need to be less accessible and equipped with better air filters, perhaps with chem ical analysis sufficient to determine if a toxic material is present. Instrumentation to allow first responders to detect toxic and hazardous materials; special provisions for protecting harbors, bridges, dams, tunnels, and dikes; and protection against attacks on urban water supplies downstream from the treatment plant are all discussed in Making the Nation Safer. How much of the long term, imaginative research and development envisioned in Making the Nation Safer has been undertaken by the Department of Homeland Security (DHS)? Not enough. The Science and Technology Directorate of DHS does not have the scope of authority, nor the length of vision that the Academies’ study urged on Congress. Critics say that it has been difficult for DHS to sustain an  expert staff with low enough turn over to build and execute the needed technical strategies. Nor has the Homeland Security Institute been given the necessary scope of independent system-level review of the DHS technical priorities. SOCIETAL RESPONSES TO TERRORIST THREATS the public can also be an attack amplifier. The government faces a number of dilemmas, such as using a color-coded warning system to alert the public to the perceived likelihood of additional terrorist attacks. Some citizens feel that this system itself may needlessly amplify the threat, thus doing terrorists’ psychological job for them. An urgent issue to be addressed is for government to train and introduce to the public, well in advance of any attack, a number of trusted and knowledgeable people who are prepared to provide accurate and trustworthy information quickly and authoritatively. TECHNICAL STRATEGIES From the great variety of threats studied by the National Academies’ experts, several commonsense conclusions about technical strategy can be extracted: †¢repair the weakest links (single-point failures) in vulnerable systems and infrastructures †¢use defenses-in-depth (do not rely only on perimeter defenses or firewalls) †¢use â€Å"circuit breakers† to isolate and stabilize failing system elements †¢build security and flexibility into basic system designs where possible †¢design systems for use by typical first responders †¢Focus priority attention on the â€Å"system of systems† technical challenge to understand and remedy the inherent weaknesses in critical infrastructure that are inherent in their architecture. †¢Ensure that first responders, including technical teams from critical infrastructure service industries, are properly trained and equipped, and the targets themselves are designed to be more resilient in the face of disaster. †¢Emphasize the importance of flexibility and agility in responding to disasters that were not anticipated in the system design and personnel training. The last point is particularly important. Future attacks are likely to involve multiple complex systems. There are a number of dimensions to the systems engineering challenge of homeland security. The multiple critical industrial infrastructures are closely coupled. Almost all of the responses to terrorist threats require  the concerned action of national agencies, state and local authorities, private companies, and in many cases, friendly nations. The technologies used in counterterrorism will themselves be coupled, complex systems. An evident example is the notion of complex networks of sensors that are coupled to databases, within which the network output is fused with other information, and from which sensible and useable information for local officials in Emergency Operations Centers must be provided. Thus, setting priorities requires modeling and simulating attack and response, and â€Å"red teaming† to test the effectiveness of proposed solutions. Finally, there is a need to build up investments in the social sciences, which will be especially important in devising strategies for countering terrorism. Both the roots of terrorism and its consequences need to be better understood. Social science can also contribute to a sustainable effort, involving multiple levels of government, with minimal economic cost, and where the perceived conflict between security activities and protection of individual freedom can best be informed and adjudicated. A SUSTAINABLE STRATEGY FOR HOMELAND SECURITY Because major terrorist attacks against civil populations may be separated by considerable intervals of time, there is reason to be concerned that the public will lose interest in the threat, and that none of the organizational or investment needs will be satisfactorily met. For these reasons, the strategy for maximizing civil benefits deserves high-priority attention. There are many obvious examples of how counter terror research and development can create values appreciated by the public and of economic value to firms, such as creation of a more agile vaccine development and production capability, information and communications networks that are more resistant to cyber attack, energy systems more robust in the face of natural disasters and human error, security technologies that are more effective yet more unobtrusive and convenient for the public. Sustainability will be a challenge for those in political power in the United States, for they find themselves compelled to emphasize the public’s vulnerability (for example, with the color-coded alert system, which is largely successful in making the public nervous) and at the same time to emphasize that the government’s efforts â€Å"have the terrorists on the run.† Indeed, we can easily imagine that  terrorist organizations such as al Qaeda may deliberately wait long intervals between attacks to decrease the alertness of the target’s defenses. SUMMARY AND CONCLUSIONS There are seven major points that I would conclude from this discussion. First, only a far-sighted foreign policy, addressing the roots of terrorism and denying terrorist ideologies a foothold in other societies, can make the United States and its allies safer in the long run. Second, weapons of mass destruction are potentially devastating, but the most probable threats will be fashioned from the economy itself, as was the case on September 11, 2001. Private property and commercial industry is most often the target of terrorist attacks, and may be providing the weapons for their own destruction. Thus, the federal government must devise both positive and negative incentives for private investments in hardening critical infrastructure and urban targets. Third, the protection of critical infrastructure must, to the extent possible, be accomplished through a civilian benefits maximization strategy. Fourth, reducing vulnerabilities in critical infrastructure is a highly complex systems problem; it requires a strategy tested by the most modern systems analytic approaches. Fifth, since most of the science and technology capability of market economy governments lies outside the security agencies, governments must be able to coordinate and fund a national science and technology strategy. Sixth, a degree of cooperation between industry, cities, and government unknown in prior experience is required. In particular, local authorities must have an effective voice in setting the technical agenda for equipment for which they are the customer. Finally, for the protection against terrorism to be sustainable, more than a civilian benefits maximization strategy is required. The negative effects on civil freedoms from increased authority in the central government must be resisted, since the threat of terrorist attack is indefinite and emergency measures may never be relaxed. Now, let us examine security. First, although science and technology will not solve all problems related to terrorism against the components making up a modern regional or national infrastructure, it can help in prevention, mitigation, and restoration if an attack or attacks are attempted or carried out. In other words, science and technology will help to reduce the threat of  terrorism, but it cannot eliminate it. Unfortunately, terrorism has become a fact of life. Whenever there are dissatisfied people who are willing to give up their own lives or do not value human life, it will be difficult to eliminate the threat of terrorist attacks. A specific point where science and technology can help is in the area of intelligence, by providing information about the potential for an act of terrorism to be conducted. For example, what is being done to sort through open-air communications—both e-mail and voice wireless—is rather startling both in quantity and in degree of soph istication. There are programs, such as Trailblazer at the National Security Agency, that look for keywords and matches. Some of the recent terrorism alerts have been based on information gathered through these programs. There is another aspect that inexorably links infrastructure and security. The more sophisticated, complicated, or technologically evolved the infrastructure, that is, the more fragile it is, the more difficult it is to secure against terrorism and the greater theneed for science and technology solutions. The latter was the particular challenge that we were confronted with at the National Academies in producing the report entitled Making the Nation Safer.50 What can and should be done incrementally as society becomes more and more complex, sophisticated, and interdependent? How do you establish layers of protection because of increased vulnerability? First, communication and coordination is required. When the September 11, 2001, terrorist attacks occurred, the New York City Resp onse Center was in the World Trade Center. So the ability of the fire and police departments within New York City to respond was hampered severely because there was no way to centralize and coordinate the actions of the first responders. The lesson to be learned is that redundant response centers are needed for just this sort of contingency. The lack of communication was another lesson coming from the World Trade Center disaster. There is a definite need to have common systems that will allow all parties to communicate seamlessly Regarding building structures, another lesson can be drawn from the attack on the Pentagon. The Pentagon was hit exactly at the point between a newly restored portion of the Pentagon and the old Pentagon. While there was damage to the newly restored section, there was no structural failure to that part of the building. The walls absorbed the energy of the crash. In contrast, the old Pentagon suffered severe damage. Its walls collapsed. Most of the loss of life was in the old part of the Pentagon. The lesson here is to incorporate blast-resistant designs and materials into high-profile buildings For cities, one of the areas that is most in need of immediate attention is the ability to respond to catastrophic events. There is a need for simulation models, improved communications, and associated training. There is also a need to conduct systems analyses of responses to events in both space and time. For transportation systems, there is an immediate need for intelligent â€Å"information agents† for cargo. These agents would include a combination of global positioning systems and sensors to detect intruders and, possibly, the presence of certain materials as well as shipping documents detailing the contents. Such agents would be installed on every freight car in a rail system, every container on a ship, and every container transported by truck. Thus, one could monitor at every point in time exactly where each container or rail car is, what it contains, its destination, and whether there has been any attempt to tamper with or enter it. The various pieces of the so-called intelligent agent exist today and have been used on a limited basis. Efforts are under way to marry these various components into the type of agent I have described. Cargo scanning technology is complementary to the intelligent agents. While cargo scanners do exist, there is a need to integrate various components into a â€Å"one-stop shop† to monitor for specific items or radioactivity. The scanning equipment should be located at the point of embarkation of the container to prevent lethal weapons from reaching their intended destination. What good would it be to identify a nuclear weapon in a container as you offload it in New York Harbor?53 Transportation technology needs to extend beyond the cargo. There is a compelling need to develop means of rapidly identifying people, checking them and their luggage. Although there are systems in place today, the sheer numbers of people and locations is daunting. The use of biometrics would greatly alleviate this problem, while increasing the confidence level of the security forces. Rapidly deployable barriers to keep underground structures and tunnels from being flooded are another need.

College Not Apart from ‘Real World’ :: Education Learning Essays

College Not Apart from ‘Real World’ â€Å"Welcome to the real world.† It is the phrase that most people quote when greeting college graduates, aside from â€Å"you have been preapproved for a credit card,† and it is quickly becoming redundant and, quite frankly, annoying. No doubt, it often is said with love and affection, easing off of the lips disgruntled office workers, perhaps wishing they could escape back to those â€Å"safe† college years when Ma and Pa were sending checks in the mail and their only worries were how they were going to get the keg into their buddies’ dormitory. To those poor souls, college represents the days when the world was reduced to barbecue, bad beer and homecoming football games. Well, college isn’t how they remember it. Things aren’t the way they used to be. My recent alma mater is an institution nestled in the foothills of Montana, with an enrollment of fewer than 1,000. We had our share of barbecue, bad beer, and football games. But, unless my memory already has been glossed over by nostalgia, we had plenty of â€Å"the real world† as well. One of my classmates was killed in a drunken driving accident and was listed in my commencement program as a posthumous graduate. The dormitory halls were filled with tales, both speculated and official, of sexual and physical assault. A young man visiting our campus during an athletic-related weekend was assaulted, urinated upon and threatened. He later refused to file charges because he was embarrassed to go public. There were many students, both male and female, who were seriously contemplating suicide, and there was at least one â€Å"accidental† overdose that later was classified as an attempted suicide. Also rampant were cases of drug and alcohol abuse, students with eating disorders, and students facing chronic depression. And there were students struggling with the everyday pressures that plague us all: bills that were overdue, friendly phone calls from collectors and part-time jobs that paid the minimum wage. My first year on campus, I lived across the hall from a 47 year old man who had lost his job after 25 years of hard work. â€Å"Sent back to school† because his services weren’t needed anymore, he found himself far from his family and his dreams of early retirement. There were students suffering from learning disorders, students who were married, students with children, students who were single mothers – the list is endless.

Real Estate Management Sop Essay

Every man has a dream to be something and excel on it. Privileged are those who are educated and can contribute towards the betterment of society, community, country and the world at large. Three basic necessities of life – Food, Clothing and Shelter. A large number of people cannot easily afford for food and clothes and affordable hygienic shelter is beyond their vision. In urban world less than half of the population are around 23-30 age group who have money to fulfill their basic needs of food and clothes but not homes because of high cost even if there are good EMI Schemes with low interest rate offered by government to citizen for their first home. An individual upliftment in the society is linked to the fulfillment of dreams of common man. My dream is to fulfill their vision and I firmly believe on it. A vision to develop a business model – provide affordable hygienic homes to masses along with maximum appreciation in their investment. Understanding of real estate and technology in construction and cost reduction is what required to be focused on. As research, the world population is increasing @ 2% approximately in compounding effect. There is always excess of demand than supply. Financial sound people look for better amenities with high premium and unfortunate home seeker look for basic amenities; and understanding of both is very crucial where cost can be saved by mass development and allocation of fund from one to another to encourage more affordable mass development of affordable house on principle of economy of large scale. Dream, Believe and Act with Passion.

Emily Dickinson’s “A Certain Slant of Light” Analysis Essay Essay

In her poem, There’s a certain Slant of light, Emily Dickinson uses metaphors and imagery to convey the feeling of solemnity and despair at winter’s twilight. The slanted light that she sees, is a metaphor for her battle with depression. Anyone who is familiar with Dickinson’s background will have a better understanding of what she is trying to say in this poem. Dickinson was known as a recluse and spent most of her life isolated from the outside world. The few people that she did come in contact with over the years are said to have had a major impact on her poetry. Although, her main muse of her work seems to be despair and internal conflict. What’s interesting about the poem is that Dickinson uses metaphors to describe depression, as well as religion. It is clear that the poet intends to highlight the light in the afternoon with its heaviness and solemnity. The time of year that the poet is describing is winter, while the time of day is twilight, or the afternoon, as said in the poem. Often times, and how I’ve interpreted it, the season, plus the time of day can be considered a metaphor for death. In Dickinson’s, There’s a certain Slant of light, she used a metered rhyming scheme that follows the pattern of ABCB. Since the poem uses rhyming, it’s closed form. There are four stanzas that almost have a hymn-like rhythm. It’s unclear if that was intentional or not due the religious metaphors within the stanzas. Dickinson used trochaic and iambic meters through out the poem. She also used stressed and unstressed syllables. The opening line of the poem, states the title and at the same time, introduces what the poem is essentially about. The poet goes on to say that the winter light, which slants in through the windows, weighs upon the speakers soul like â€Å"the Heft of Cathedral tunes.† Organs, with their multiple pipes, strike ears and fill Cathedrals with a sound that often leaves you with a feeling of unwelcome solemnity and grandiosity. This can leave listeners with an overwhelming feeling that lays heavy in their being. The image of winter, as well as the organ music, adds gloom to the poem. There’s a sense of anguish that the speaker is feeling and you believe that a certain slant of light might connote hope, but not even sunshine on a winter afternoon could bring happiness into the speaker’s life. Winter itself is a symbol of death and decay, opposed to summer, which is characterized by sunshine and joy. Like the Cathedral tunes, the light reminds her of desolation. The feeling of despair is transported into an auditory feeling, which is where the organs come in. The word â€Å"heft† has two meanings, weight and significance. It can refer to the cathedral tunes, and also the speaker being weighed down by despair. In the second stanza, the light oppresses her soul; it gives her a â€Å"Heavenly Hurt.† The experience of slanted light is a metaphor for ideas and how it feels to experience depression. This kind of heavenly hurt leaves no scar behind, but it creates an internal difference that brings a change in demeanor. The phrase â€Å"Heavenly Hurt† brings together a feeling of elation and the reality of what the speaker is feeling. The alliteration of this phrase is used as an emphasis. In the third stanza, the first two lines are, â€Å"None may teach it – Any – ‘Tis the Seal Despair -† This is saying that no one is able to teach us what death feels like. We can prepare for it, in the sense of what we believe will come after, but the actual physical and mental feeling is unknown. Death is very unpredictable in the way that we don’t know how our lives will end, but it’s on everyone’s mind. In the line, An imperial affliction, Sent us of the Air – (11-12) the speaker has made a connection with the winter light, the â€Å"Heavenly Hurt†, and the feeling of internal difference and despair. In Dickinson’s poem, an imperial affliction is a metaphor for an all-encompassing despair that comes from the air. Whenever we have a strong emotion, like happiness, we tend to see the world around us in a brighter light and over all it makes us feel joyful. If we’re feeling down, like the speaker of this poe m, we see the world as how we feel inside; things look unpleasant, and grey and dismal. We’re unable to see a ray of hope that is coming through the window in the form of sunshine. In the fourth stanza, when death, or â€Å"it† as the speaker calls it, comes everything listens. When someone dies, those still on this earth sometimes experience stillness in nature, as if the world is on hold and listening to us. In Dickinson’s poem the stillness comes from the slant of light, and the landscape and shadows listen and figuratively hold their breath. The landscape and shadows are personified in this stanza. The capitalization of â€Å"Landscape† and â€Å"Shadows† gives the impression that the speaker is referring to someone she knows. The mood here changes quite a bit compared to the first three stanzas of this poem. You get a sense of anticipation instead of despair, and the oppression that the speaker has felt has lifted and now she’s feeling light and maybe some what alluring. In the final two lines of the poem, the poet uses sort of a morbid imagery. â€Å"When it goes, ‘tis like the Distance, On the look of Death.† (15-16) Dead people have a distant look to them since the life in their being is gone somewhere else. We also see the exit of winter light at the end of the day in the same distant way we might see some deaths. Death is mysterious to those on earth, just as the sunset in the heart of winter is. The day is blanketed in shadows due to the sun’s proximity to earth during this season, and as it sets, it’s a gradual process, that sometimes leaves the world at a standstill, much like death. The dash at the end serves as emphasis that a period wouldn’t leave behind. As readers, we’re left with no definitive answers in regards to the light or the speaker’s internal despair. Dickinson almost made this intentional in a way that the reader might feel an equal despair or oppression at the outcome of the poem, or the â€Å"light† might leave us with a feeling of enlightenment and hope. At the end of this poem, we’re left with a feeling of despair, that Dickinson almost made intentional in order for the reader to better understand how the speaker feels as the light breaks through the windows on winter afternoons. Emily Dickinson’s use of imagery and metaphors highlights her battle with depression and isolation. There’s a certain Slant of light (about 1861) Emily Dickinson There’s a certain Slant of light, Winter Afternoons – That oppresses, like the Heft Of Cathedral Tunes – Heavenly Hurt, it gives us – We can find no scar, But internal Difference, Where the Meanings, are – None may teach it – Any – ‘Tis the Seal Dispair – An imperial affliction Sent us of the Air – When it comes, the Landscape listens – Shadows – hold their breath – When it goes, ‘tis like the Distance On the look of Death – Works Cited Page Kennedy, X. J.. An introduction to poetry. Boston: Little, Brown, 1966. Print.

Israel and Palestinian Conflict

Israel and Palestinian Conflict Introduction The unending clash between Israel and the Palestinians has caught many people who live in the region unaware. Although very easy to understand, the conflict, which has existed for decades now, is deeply complex. Emanating from this conflict is what each side believes: the Israelis believe that the creator of the universe entitled them to a land called Israel.Advertising We will write a custom research paper sample on Israel and Palestinian Conflict specifically for you for only $16.05 $11/page Learn More On the other hand, the Palestinians believe that their creator also entitled them to a land called Palestine. Regrettably, both the Palestinians and Israelis are demanding one thing, that is, land in Middle East, which it group refer differently. Each of these two groups have drawn a strong line of believe, that is, the religious Jewish Israelis and religious Muslim Palestinians associate these land as God given. The Israelis believed that God ( Jehovah) gave them this land and therefore, they should guard it jealously. Similarly, the Palestinians believe that their God (Allah) provided them with Palestine, and by giving it away, it would not only be a sin, but also, an insult to Allah. The Israel and Palestinian conflict is much more complex than this effortless rationalization. Most importantly is the fact that religious and historical disparities play an imperative role in establishing this conflict. For sixty years now, the world has witnessed the fight between Palestinians and Israelis, and every confrontation, each death, and every activity of terrorism, only expands the abhorrence and the disinclination to reach a compromised solution. The paper takes a closer look on the conflict and how manipulation of religion can cause insecurity and hamper peace (Isseroff, p.1). Antique History of Israel, Palestine and their Religious Inclinations Historically, the Jews comprises of two groups: ancient Jews and the modern Jews. The ancient Jews (Hebrews) referred to their land as Israel, Judea, Samaria and Canaan just the way it appears in the Bible. Thus, to them, the ancient times were the days of the Bible. Although not all modern Jews are Christians, they also believe that God gave them a land called Israel under the leadership of Abraham, Moses, Davis and many other leaders. Over 2000 years ago, the Roman Empire captured Israel and took over supremacy. Its main aim was to control the Jews and govern them.Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More In order to suppress the growing Jewish rebellions, the Romans went ahead to obliterate the Jewish temple situated in Jerusalem where hundred of Jews lost their lives. Life became difficult under the Roman Empire rule forcing some Jews to free their ancestral land in an exodus called â€Å"The Diaspora.† Nevertheless, some Jews rem ained behind. Those who freed never came back until the end of the Second World War and the Holocaust. Several foreign empires invaded the ancient Jewish kingdoms and claimed supremacy over it. In fact, in 135 CE, the Roman Empire trounced the third revolt and eventually debarred all Jews occupying Jerusalem and its environs, by selling majority of them into slavery. The Roman Empire then renamed the roman province as Palestine. Following the successive subjugation of Palestine in the seventh century, the few residual denizens incorporated themselves into the Arab culture and Muslim religion in order to preserve their identity. Nevertheless, the Arab culture and Muslim religion did not usurp the whole population, as there were some Christian and Jewish minorities living in Palestine, particularly in Jerusalem. It is important to note that the Crusaders subjugated and took control of Palestine in two brief periods where they debarred the inhabitants of Jerusalem, Jews and Muslims int o The Diaspora and some into slavery. The crusaders did not conquer Palestine fro the third time and for a long time, the Arab empires took control until 1516 when Palestine became part of the Ottoman Empire. The Israel and Palestinian conflict is mainly a misunderstanding between the Jews referring to themselves as â€Å"Israelis† due to their background, and the Arab population of Palestine, popularly â€Å"Palestinians† following the remaining by the Roman Empire. It is imperative to note that after the subjugation of Palestine by the Roman Empire, the killing and expulsion of the Jews, the Arab-speaking Muslims increased in numbers to form a dominant ethnic cluster (Lesch and Tschirgi, pp. 45-49). The Ascend of Zionism and its Effects Towards the end of the 19th century, a small group of Jews formed a religious-nationalist and political movement to champion their rights. In particular, they had a mandate of restoring the land of Israel, which for a long time, they considered their home. Thus, Zionism started as a political movement to recapture the lost land. Immediately after the formation of Zionism, the Jews who had gone to â€Å"The Diaspora†, that is, Eastern Europe including Yemen, started drifting back to Palestine to champion the acquisition of their national land. Many Jews believed that Zionism was the solitary avenues that will enable them achieve national independence, and it was perhaps the only solution to anti-Semitism following the centuries of harassment and repression of the Jews who had freed to foreign territories.Advertising We will write a custom research paper sample on Israel and Palestinian Conflict specifically for you for only $16.05 $11/page Learn More In a move aimed at strengthening this nationalist and political movement, the group held its first Zionist congress in 1897 in Basel under the leadership of a Theodor Herzl (a writer and journalist from Austria). In his earlier book, The Jewish State, Theodor Herzl tinted a vision of an independent Jewish state where the Jews would be luminosity for the rest of the nations. A good number of orthodox Jews held the view that only the Messiah could show them the way into â€Å"promised land†. However, the unending pogroms such as the first and second world wars and the Holocaust became an impediment hence, making many reluctant to make up their minds on whether to stay in the Diaspora or go back. Perhaps this is the reason why there exist some anti-Zionist conventional Jews for example, Naturei Karteh and Satmer even by today (Howard, pp. 2-8, 455). The British Autonomy on Palestine The First World War saw Great Britain incarcerate some a fraction of Middle East as well as Palestine from the ruling Ottoman Empire. In order to strengthen the rising Zionism, the British pledged support to Zionists of establishing a Jewish State. In 1917, the Balfour Declaration mandated the Jews to occupy a section of Palestin e especially at Transjordan. On realizing this, the Arab inhabitants resorted to violent insurrections to both the Jews and the British rule with an aim of protecting their land. The Great Revolt of 1936-1939 saw incidences of radicalism initiated by Mufti of Jerusalem take the lives of many Jews and other Palestinian Arabs who dared to compete with him. The Zionists had also their own defense mechanism to counter these insurgent groups. They too carried retaliatory attacks on Arabs during this period. The British rule tried diplomatic skills to quell the violence by suggesting division of Palestine. However, the Arabs rejected this proposal vehemently forcing the British to halter the Jewish immigration strategy in 1937. This angered Zionists who ten started accusing British of collusion. Notwithstanding the pressure form United States, the British rule in Palestine declined to allow further Jewish immigration, and on a catastrophic note, the British arrested illegal immigrants (Je ws) and either sent them back or detained them in Cyprus. This policy continued to attract more opposition and violent attacks until it became indefensible for the British. The British referred the mater to United Nations for further deliberation. United Nations resolved to partition Palestine a move that the Palestinians and Arabs rejected quickly although acknowledged by the Jews. The move by United Nations appeared complex of course with the internalization of Bethlehem and Jerusalem in addition to seven parts.Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More For example, â€Å"a partition plan for Palestine†, proposed the separation of Jews cohabiting in Jerusalem from other Jews through a large Arab corridor. Through these partitions, the Jewish state was to occupy 56 percent of the Palestine territory and the Arabs to occupy the rest. Nevertheless, following mutual antagonism between the two groups, the plan failed to work (Isseroff, p.1). Establishment of the State of Israel The meditation of religion continued to affect the region negatively.After the plan failed to work, conflict escalated even more. The Palestinian Arabs became so violent, attacked the Jewish convoys, and restricted them from entering Jerusalem. On realizing this, the Zionist also retaliated back and demolished numerous villages belonging to Palestinians. Contrary to the expectations of the Arabs, Israel became an independent state in 1948; something that sparkled further retaliatory attacks from neighboring Arab countries towards Israel. However, the Zioni sts had an established Israel Defense Force that fought these enemies and finally won the War of Independence. Nevertheless, the conflict did not end and it forced the two groups to enter into another agreement, armistice agreement, in 1949. Israeli took control of the environs of Jordan River and Mediterranean Sea; Jordan administered West Bank and East Jerusalem, and Egypt took care of Gaza Strip. On the contrary, the neighboring Arab countries refused to absorb the whole population of Arab refugees permanently. Instead, they demanded that they return to Israel, as this was their rightful home. Today, there are over a million Palestinians living in refugee camps under deplorable and despondent conditions simply because Israel cannot allow an influx of Palestinians into Israel, as this would lead to Arab majority. Notably, Israel blames the neighboring Arab countries of the Palestinian refugees citing that they should absorb them into their countries permanently. Ironically, some P alestinian groups such as Fatah do confess that yielding to the Palestinian ‘right to return’ would signify the vanishing of Israel as a Jewish state. In most cases, this has been the fundamental cause of Israel and Palestinian conflict (Radley, pp. 586-614). Arab Rejectionism and the Six-Day War The Arab-Israel conflict continued even as the neighboring Arab countries refused to recognize Israel as a state. Some of them organized terrorist attacks on Israel for example, the 1959 Yasser Arafat led attack and Egypt’s 1964 PLO attack. In 1967, Israel attacked Palestinian regions including West Bank, Gaza Strip and East Jerusalem and made one million Palestinians under Israel rule. Nevertheless, division broke among Israelis on the aftermath West Bank and the novel religious-nationalistic association that threatened their interests. Since 1967, the focus of Palestinian confrontation has been on the liberation of these two regions. Nevertheless, dividing Jerusalem an d its environs to Israel and Palestine remains a predicament as Israelis believe that this is a holy place that in inseparable (Oren, pp. 8-47). Palestinian State and the Peace Process It is quite clear that meditation of a certain religion is very dangerous to the county’s security. The conflict between Israel and Palestine is mainly the difference of religious fundamental ideologies between Jews (who observe Christianity) and the Arabs who are mainly Muslims. When United Nations declared Zionism as an act of racism, it lost the ground of arbitration. The two groups are reluctant to lower their stances on the land issue and give peace a chance to prevail. The world has witnessed unprecedented violence over the legitimacy of Israel and uprising in Middle East for decades now. The Oslo peace agreement of 1994 has not yielded peace in the religion and extremist attacks continue to hammer the region. Even after the Oslo agreement, Israel continues to establish Jewish settlement schemes in West Bank and Gaza Strip contrary to the agreement. This has not only hampered the peace process but also instituted further attacks where hundreds of Jews and Palestinians die on each attack. The Palestinians have resorted to a terror network of extremism comprising of Hamas, al Qaeda and others carrying out suicide attacks in regions dominated by Israelis. Although President Clinton presented a proposal to establish a Palestinian state comprising of Gaza Strip and West Bank, the Israeli continue to hold their religious fundamentalism hence, rejecting this proposal. In the recent, Israel has dismissed Palestinian workers leading to an increase in poverty levels. Additionally, due to this ongoing religious bigotry between Palestine and Israel, there is restricted freedom of movement for fear of attacks (Great Transition Initiative, pp. 3-5). Conclusion The Israel and Palestinian conflict lies in the fact that each of the two nationalistic movements, Palestinians and Israe lis, allege to own a similar land. Principally, the religious fundamentalism regarding this land is the main cause of this conflict. In addition, the two groups do not trust each other and each has its own demonization and presumptions on the other. To Israelis, many Arab sates are not only undemocratic, but also weak economically, culturally and socially. They also rebrand them as aggressive and terroristic. On the other hand, the Arabs believe that Israelis are vanquishers and majestic aggressors, who for eternity aspire to manage the entire Middle East. Even as Israel rejects teachings of Muslim in its schools, the Arabs also promote anti-Semitic typecasts and conspiracy theories aimed at underpinning Zionism. Great Transition Initiative. The Israeli-Palestinian Conflict: Overcoming the Impasse. 2009. Web. greattransition.org/archives/perspectives/Perspective_Israel_Palestine.pdf Howard, Sachar. A History of Israel from the Rise of Zionism to Our Time. New York: Alfred A. Knopf. 1976. Print. Isseroff, Ami. Israel, Palestine and the Israeli-Palestinian Conflict. Mideast Web. 2010. Web.   mideastweb.org/briefhistory.htm Lesch, Ann, Tschirgi, Dan. Origins and Development of the Arab-Israeli Conflict. West Port, Connecticut: Greenwood Press. 1998. Print. Oren, Michael. Six Days of War: June 1967 and the Making of the Modern Middle East. Presidio Press. 2003. Print. Radley, Rene. The Palestinian Refugees: The Right to Return in International Law. The American Journal of International Law, 72(3), 1978, 586-614.

Planting Hybrid Poplar, Pros and Cons

Planting Hybrid Poplar, Pros and Cons A hybrid plant is produced when pollen of one species is used to fertilize flowers of another species. A hybrid poplar is a tree resulting from the combining, either naturally or artificially, of various poplar species into a hybrid. Hybrid poplars (Populus spp.) are among the fastest-growing trees in North America and well suited for certain conditions. Poplar hybrids are not desirable in many landscapes but can be of major importance under certain forestry conditions. Should I Plant a Hybrid Poplar? It depends. The tree can be effectively used by tree farmers and large property owners under certain conditions. Most hybrid poplars are a landscaping nightmare when grown in yards and parks. The populus species are susceptible to fungal leaf spots that defoliate trees by late summer. The poplar tree is extremely susceptible to a devastating canker and dies an ugly death in just a few years. Still, poplar just may be the most planted ornamental tree in America. Where Did the Hybrid Poplar Come From? Members of the willow family, hybrid poplars are crosses between North Americas cottonwoods, aspens, and Europes poplars. Poplars were first used as windbreaks for European fields and hybridized in Britain in 1912 using a cross between European and North American species. Planting hybrid poplar for profit started in the 1970s. Forest Services Wisconsin lab led in U.S. hybrid poplar research. The Poplar has restored its reputation by offering a new source of alternative fuels and fiber. Why Grow Hybrid Poplar? Hybrids grow six to ten times faster than similar species. Tree farmers can see economic returns in 10 to 12 years.Hybrid poplar research has reduced the disease problems. There are now commercially available disease-resistant trees.Hybrids are easy to plant. You can plant an unrooted dormant cutting or stick.Growth off stump sprouts insures future trees with little or no planting costs.There is an ever-increasing list of primary uses being developed for hybrid poplar. What Are the Primary Commercial Uses of Hybrid Poplar? Pulpwood: There is an increasing need for aspen for the production of wood products in the Lake States. Hybrid poplar may be substituted here.Engineered Lumber Products: Hybrid poplar can be used in the process of making oriented strand board and, possibly, structural lumber.Energy: Burning wood does not increase atmospheric carbon monoxide(CO). The hybrid poplar absorbs as much CO over its lifetime as is given off in burning so it mitigates amount of CO given off. What Are Alternative Uses of Hybrid Poplar? Hybrid poplar is extremely beneficial in ways not directly profitable. Property owners can stabilize stream banks and agricultural lands by planting and encouraging hybrid poplar growth. Windbreaks of poplar have protected fields in Europe for centuries. In addition to protecting soil from wind erosion, the windbreaks protect livestock and humans from cold winds and increase wildlife habitat and aesthetics. Phytoremediation and the Hybrid Poplar In addition to the above values of hybrid poplar, it makes an excellent phytoremediator. Willows and specifically hybrid poplar have the ability to take up harmful waste products and lock them away in their woody stems. Municipal and corporate institutions are becoming more and more encouraged by new research showing the benefits of planting hybrid poplar to naturally clean up toxic waste.

Midterm study guide Essay Example | Topics and Well Written Essays - 2000 words - 1

Midterm study guide - Essay Example Mantiklos dedicated the sculpture to Apollo, the hunter, hoping for gift in return (Helen, Fred, & Christin, 2005, p. 787). What is a kouros? Kouros is a statue built to the size, sometimes larger than the actual size of the objet that it represented. Most of Kouros were made of marble except in limited occasions where they were made from other sculptor materials. Kouros had a standing frontal posture with one of the legs displaced forward in a manner of walking. The arms were close to the body, rested on the thighs. Kouros depicted strict symmetry and different parts of the anatomy constructed as simple geometric forms (Helen, Fred, & Christin, 2005, pp. 805-810). The favorite subject of Greek artists was male instead of females. Female nudity was rare in Greek art because it had either religious or erotic implications. Therefore, women as the subject of art were restricted to vase paintings of courtesans and slave girls. The portrayal of nude goddesses was considered scandalous and artists rarely sculpted woman (Helen, Fred, & Christin, 2005, p. 835). The Greek temple layout was based on an architectural design of megaron, a form of building that has been in use since the Bronze Age. The temple was organized into rectangular cellas that had protruding walls called antae. The protrusions framed a porch called pronaos at one end. The building was cordoned off by a margin, the adyton that served the purpose of admission of priests. Two or more columns supported the porch. The temple was constructed on a raised platform called stylobate. As a design rule, the external colonnade contained along the long side twice the number of columns in the short side. Columns comprised of three parts; the base, the shaft and the top (capital) (Helen, Fred, & Christin, 2005, pp. 923-925). What is the center of the temple – what were temples for? Greek temples served as homes for gods and goddesses whose role was

Environmental Health Historical Prespective Research Paper

Environmental Health Historical Prespective - Research Paper Example Chemicals are the most critical factors that policy makers need to address because consumers may not control their intake. The lack of control results from the fact that consumers are hardly aware of the chemicals they consume from commercially produced products. Consumption of high levels of chemicals may cause diseases such as breast cancer, which have not found a cure since the evolution of mankind. Rachel Carson, an environmentalist was the first woman to create awareness of the negative effects of environmental factors such as chemicals. Rachel was concerned with the relationship between health and environment because she was a victim of breast cancer that is caused by consumption of chemicals (Carson, 2012). Environmental pollution that results from spraying of insecticides, and pesticide is one of the major factors that produces negative effects on health. This is proven by the study conducted by Silent Spring to find out the effects of pollution on health. The study found out that when human beings inhale air that contains chemicals, they are likely to contract cancerous diseases such as prostate and breast cancer. The institution compared the spread of breast cancer among women of Cape Cod, an area that grows cranberries with other regions in Massachusetts. The regions were chosen because growers of cranberries in Cape Cod often spray their farms to prevent pests from destroying their crops; while the rest of Massachusetts does not practice farming, hence consumers in these regions inhale uncontaminated air (Carson, 2012). The research found out that the rate of spread of breast cancer in Cape Cod is fifteen percent higher than that of other regions. The breast cancer results from estrogen compounds that lead to the growth of tumors in the human body. Human beings do not have the capability to control consumption of chemicals in the environment thus, the government should take measures to control air pollution because this reduces the negative conseque nces of the act (Van Holle, Deforche, Van Cauwegan, Goubert, Maes, Van, & De Bourdeaudhuji, 2012). The chemical products that affect the health of human beings may also be found in consumer products such as food and cosmetics (Schakowsky, & Markey, 2013). The products are made of various components, and some of them may disrupt the hormonal balance of the human body leading to cancer. Satura is an example of a cosmetic product that was developed in 1956, and it contains an estrogen compounds that causes breast cancer. Tobacco is another product that harms anyone who comes into contact with the smoke together with the direct consumer. The smoke from this product leads to discomfort on persons who inhale it, and it causes lung cancer. Consumers may prevent the negative consequences of these products by avoiding their intake; however, some manufacturers do not disclose all the chemical composition of their products (Harlid, Butt, Ivarsson, Eyfjord, Lenner, Manjer, & Carlson, 2012). Thi s means that the government should intervene through policies that ban the sale of chemicals that are harmful to the human body. The reduction of consumption of chemical products leads to improvement in the health of a nation’s population (Geoffrey, & Cockerham, 2010). This phenomenon has been proven by a research conducted by the United States center for Disease Control and Prevention (CDC). The institution conducted several researches

Blacks Leisure Group Board Essay Example | Topics and Well Written Essays - 2500 words

Blacks Leisure Group Board - Essay Example Hence, for the development and sustenance of a competitive advantage the marketing planner of a company needs to recognize that the advantage an organisation or brand possesses that is meaningful will be copied or improved upon by competitors sooner rather than later (Wilson R. and Gilligan C., 2005, p 405). Established a century and a half earlier in 1863, by Thomas Black, the Blacks Leisure Group has come a long way from being a humble sails manufacturing company to a camping, outdoor and sporting goods retail empire. Today, for millions of those out-door loving enthusiasts, the company is more of an institution that a mere retail store. Presently, the Black Leisure Group holds a powerful presence within two of the exclusive markets in which the company operates: Broadwear and Outdoor. Currently the management team of the group is focusing on restoring and, developing and sustaining its competitive advantage. The management is also concentrating on building upon the disciplines of operational improvements that was achieved in the current financial year (Black Leisure Group plc, 2008). However, to in order to return to its past performance levels and to develop and sustain its competitive advantage an innovative business strategy with further radical changes will be required. To be able to lock horns with other competitors and to come on top in the present era of fasted paced innovation and ruthless competition, the sustainability and competitive advantage of companies are defined by innovative strategies.Henceforth, in order to conceive of a corporate strategy through the company will successfully be to develop and sustain its competitive advantage, first a better understanding of the link between strategy and competitive advantage is a must.   Strategy and Competitive Advantage According to the definition of competitive advantage, it as an advantage gained over competitors by offering the consumers a greater value for their investments either by means of low prices or by the provision of greater benefits that does justice to higher prices. For a company to gain a competitive advantage over its competitors Michael E. Porter has identified four "generic" business strategies (Porter E.M, 1980). These "generic' strategies relate to the extent to which the scopes of a business' activities are narrow against the extent to which a business seeks to differentiate its products. The four strategies are as follows: Differentiation Strategy: This strategy is based on studying the different criteria used by consumers while buying products and selecting one or more of these criteria and then positioning the business to meet the chosen criteria. This differentiation strategy is all about charging a premium price for a product that covers the added production costs, ensuring profit and as well as giving the consumers obvious reasons to choose the product over the other less or not differentiated products. The examples of differentiation strategy can be better understood with case studies of Mercedes cars and Bang & Olufsen Company (Porter E.M, 1980).     

Effect of Brexit on the Financial Markets

Effect of Brexit on the Financial Markets What are financial markets? Financial markets are an open and regulated system where companies can raise large amounts of capital through bonds and stock markets, or offset their risk by investing in commodities, foreign exchange futures contracts or other derivatives. Due to the size of financial markets, they are highly liquid, meaning businesses can easily and quickly generate cash by selling their assets. Since financial markets are public and work under a lot of regulations, there is a lot of information transparency and prices of everything traded reflects this. (Source: â€Å"Six Basic Functions of Financial Markets†, Iowa State University, March 5, 2012.)   What is the European Union and what is Brexit? The European Union, like the name suggests is a political and economic union of 28 countries within Europe. The UK became part of the EU in 1973 and had to pay a membership fee every year The creation of the European union was to firstly bring countries together after the 2nd world war had left many economically and politically disabled or struggling. This economic cooperation would become the world’s biggest single market and it still is today. (European Union European Commission, 2017) Even though the UK has benefited a lot from being in a single market, there were many who thought that Britain would be better off on its own; and for this reason the government decided to have a referendum after which on the 23 of June 2016, Britain exited the Single market, giving back it’s seat in the European Parliament and all the benefits that came with it. How can financial markets affect economic performance? Demirgà ¼Ãƒ §-Kunt and Levine in their 2001 book, ‘Financial Structure and Economic Growth’ said there is a strong connection between financial markets development and economic growth. The way in which this happens is that a well-functioning financial market will efficiently direct the flow of savings and investments in an economy as such to enable businesses to accumulate capital and goods and services to be produced. A well-established financial market alongside a wide range of financial products will benefit borrowers and lenders and therefore the economy as a whole. Another benefit of an efficient financial market is that by providing a range of financial options at varying risk levels and pricing structures, borrowers and lenders can be closely matched for their individual needs. This allows investors to determine and calculate their cost of financing by looking at their returns on their investments and then choosing the best financing and investment choice for their requirements. The European Union created a single banking market with a single currency and therefore created Europe-wide financial markets which made investing and borrowing euro-denominated stocks, bonds and derivatives easy for all EU countries that are part of the Euro by eliminating exchange rate risks. By doing so, products and services that were previously only available on a country by country basis were now available to a wider market, creating better competition which in turn makes markets more efficient and prices lower for individuals.   This is called the ‘Single-Passport’ system, whereby any business set up in one-member state may provide its services to the rest without further authorisation requirements (European Commission 2016) Not only does euro-based financial markets benefit the Eurozone, it also attracts international investors to invest here and benefit from the competitive market, (Mishkin, 2012) and by being part of the ‘single-passport, Non-European companies can set up their head office in London, and have access to all the benefits of the Single Market. UK financial market relationship with the EU Professor Nick Bloom of Stanford University said: â€Å"The single European market increased competition and forced British firms to increase the level of innovation.† London is one of the biggest financial hubs of the world and hosts the largest number of banks and commercial insurance companies. According to (Belke A. et all) around 6 trillion euros, which is equivalent to 37% of Europe’s financial assets are managed in London, which is twice the amount of the nearest rival Paris. London also dominates Europe’s 5.2 trillion-euro investment banking industry. What this means is that major investments happing in some of Europe’s biggest cities are financed by companies operating within London. This is why, (Mark Carney, Governor of the Bank of England), said: â€Å"Europe relies heavily on London’s debt and equity markets.† When it comes to foreign exchange markets, the UK is way ahead of its European counterparts with an impressive almost 40% share of the worlds foreign exchange and derivatives handling. According to the (City of London Corporation) each year, $869 trillion worth of Euro, Yen and Dollars are traded from London. This is higher than all the Euro-Zone countries combined. https://www.reuters.com/investigates/special-report/britain-europe-cost/ London currently accounts for 70% of the Euro Sovereign debt trades, meaning that the EU countries cannot shut outlondons capital markets as this would be suicide. (Rueters) According to Reuters (Kai Pfaffenbach) Frankfurt is desperately trying win over businesses to relocate to their city from London. To help in this, the European Central Bank started the â€Å"Capital Markets Union† project in 2015, where they want Euro-zone financial markets to provide improved fund raising for companies by replicating Britain’s financial services and become more efficient in the stocks, bonds and other securities markets. How Brexit is affecting Financial Markets: https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7The question of how Brexit will affect the UK economy is very uncertain. The sterling fell to a 31 year low, stock markets fell and foreign direct investment has frozen. All these things point towards the short-term impact of Brexit to be very serious. The real question is, what will the long term effects be, and how will markets react to cope with such uncertainty about the future. The institutional framework of the EU and the euro has created dependencies amongst countries. For this reason, Brexit will have affects in not just UK financial markets, but financial markets across the globe. According to (Gordon and Shapiro 1956) the dividend discount model, expectations about future effects on financial markets will have an effect on stocks and other financial variables now. From the graph above, we can see that when the news of Brexit was announced and the UK markets became uncertain about the UK’s future in the single market, the pound fell to its lowest price in 31 years. Because of Brexit and Policy uncertainty, markets adopt a ‘wait-and-see’ attitude towards investment decisions.   If London is no longer part of the single market, it loses its attractiveness as a foreign direct investment hub and a gateway to the European financial markets. According to the financial times, almost half of the FDI coming to the UK comes from the EU and after Brexit, this investment will significantly decrease due to increased trade costs and tariffs. The Office of National Statistics (ONS) tells us that FDI has been about 5% of UK GDP between 1999 and 2015. The analysis from the financial times estimates the decrease in FDI would be 22%. The impact of Brexit on the UK financial sector can be broken down in to 3 things: What agreement can the UK make with the EU in its post-Brexit negotiations. The extent to which financial sector businesses move their operations from the UK to a Eurozone country before any negotiation agreements are made.How well the UK financial sector can survive based on its global position and relationship. Until a deal is made with the EU, we cannot predict how the market will end up like, but we can hypothesise certain outcomes like the following: Currently, the UK is still part of the EU, and hence has passporting rights. Once these rights are gone, UK firms will have to have state level authorisations from EU countries to perform activities. This will depend upon whether the regulators in those countries will allow UK financial markets to sill operate within their borders. The best outcome would be if the UK retains their passporting rights through either a negotiation or remaining a part of the EEA. Johnathon ford writes in the financial times that another option that UK based companies may have is to open up subsidiaries in different EU countries, that way giving them access to customers within those markets. This is however costly and inefficient. Alternatively, UK firms could take advantage of Third Country Regime (TCR) access provisions. What this means is that companies that were incorporated outside the EU can still do business on a cross-border basis if they wish to do so without having an establishment within that EU country, however EU law will require that the regulations and legal structure they follow complies with EU. Reuters business news tells us that Standard Chartered (Stan.L) and JPMorgan (JPM.N) were the latest global banks that have outlined plans for European operations after Brexit. Goldman Sachs Lloyd Blankfein said that â€Å"London’s growth as a financial centre could stall as a result of upheaval caused by Brexit.† So, because of Brexit and the uncertainty of what the future holds for UK’s financial markets; UK based financial firms especially those in London are looking to move their operations into the EU market to benefit from the single market. Another financial market area that will be affected by Brexit is that of selling of derivatives for companies to buy protection or lower their risk portfolio against changes the US dollar and or spikes in the price of oil. As a result of tighter financial regulations on banks, some will opt out of providing this service and those who do will offer a smaller variety of products at a higher price. Ultimately, this is bad for markets as they are not getting the best deal they can. London also dominates the euro derivatives market. EU policymakers have not liked this for a while and want to shift this to a Eurozone country after Brexit. This will in turn increase the price of trading for corporations that deal in multiple currencies as they will have to go through several clearing houses. Bankers are unsure how much extra it will cost a European company to borrow without direct access to London, however, the association for financial markets said customers are being overly optimistic if they think that lending agents will bear the burden or grunt of this. They will push the increased cost of borrowing onto the consumer, which will ultimately make them less competitive in the market. Ernst and Young say in their research paper that they surveyed major corporates including Airbus and Volkswagen and found that these companies were really worried about rising costs of funding as a result of Brexit. London has dominated the financial centre for decades and has built its reputation on the service it provides. It would be very difficult to replicate this market. This has been due to its vast talent pool, widespread use of the English language and the UK legal system and the vast amount of money going through the UK through these financial markets. Another great strength of the UK is its over-the-counter derivatives market. Corporations often use swaps to protect themselves against adverse interest rates and currency moves. Over-the-counter derivatives have to go through clearing houses who are sort of the middle man who make sure neither party defaults on their payments. Even though the UK is not part of the Euro single currency, it still manages  ¾ of all euro-denominated swaps. As the UK decides to leave the EU, this creates a problem, because now most of these swaps won’t be clearing through the bloc. Germany and France have already said that they want the euro-denominated derivatives to be cleat=red through the EU; however LSE has argued that doing so would cost London thousands of jobs. According to a private report by EY, this estimate loss of jobs could be around 83,000 by 2024. The EU needs London’s money, says Mark Carney, governor of the Bank of England. He calls Britain â€Å"Europe’s investment banker† and says half of all the debt and equity issued by the EU involves financial institutions in Britain. What impact would Brexit have on the way in which banks are regulated in the UK? There are three pillars in the UK banking regulations: The capital requirements directive IV and the capital requirements regulation.The banking act of 2009 Bank Resolution and Recovery Directive (BRRD) Since the BRRD and CRD IV were EU legislations, the UK has to decide after Brexit how much they want to keep. CRD IV implements the requirements of Basel III, which the UK would still be committed to after Brexit. Brexit will likely have an effect on the legislation application of the EEA branches and subsidiaries. What  Ã‚  impact would Brexit have on the UK insurance industry? The London market currently has access to over 500 million customers through the EU and a substantial amount of insurance and reinsurance is distributed into and out of the UK. For the UK to continue to have access to these customers, they have to negotiate bilateral treaties to ensure member states allow them passport into the EU. The prudential regulation authority (PRA) has been very involved in negotiating the solvency II directive which was based on the risk-based regime of the UK. What  Ã‚  impact would Brexit have on the UK funds industry? Currently most UK based fund managers already use Irish or Luxembourg UCITS and alternative investment funds (AIF) platforms for Pan-European distribution of funds therefore Brexit will likely not have much effect on this sector of the financial market. The problem the UK asset management industry will face is the risk of changes to rules enabling MIFID investment firms, AIFMS and UCITS management firms to choose UK based investment managers. Currently, the administration is deemed sufficient for EU firms to contract asset management jobs to the UK managers. Another drawback may be that EU member states may put obstacles in front in the form of tax regimes that make it less attractive for EU firms to hire UK investment managers. Corporate tax: The EU previously set the legal requirements for corporate tax in the UK. Since we will no longer be a part of the EU, these regulations will be revised by HMRC and new draft regulations will be put in place. Currently businesses that have offices within and outside the UK enjoy a 0% rate of withholding tax. This may no longer be the case and companies will look for ways to save themselves from varying taxations in different countries, or changing their place of business to protect themselves from higher or double taxation. VAT VAT was a European Union Concept and now that the UK government is responsible for this, they may decide to change the rates at which this is charged or what products VAT will be charged on. Accounting law At the moment, there is a significant EU accounting and company law legislations that may come under review after Brexit. These include, directive 2013/34/EU about annual financial statements, consolidated financial statements and reports. Directive 2009/101/EC about the disclosure of company documents and company obligations. Directive 2012/30/EU on the formation of public limited companies. Directive 89/666/EEC on disclosure requirements for foreign branches of companies. Global Impact of Brexit There is no roadmap to follow or analogy to invoke as a guide or pattern for how the Brexit vote will reverberate in the months and years to come. However, a few immediate consequences seem highly likely: †¢Ã‚  The flight to safety away from the epicenter of this British-EU divorce will push capital away from the region and toward key safe-haven markets including the U.S.—especially Treasuries—and to Japan. This will further lower market interest rates and raise relative currency values. †¢Ã‚  A higher U.S. dollar and Japanese yen are negative to both economies’ export sectors. In the case of Japan, this is particularly unhelpful to its efforts to reinflate and reinvigorate the economy after decades of deflation. †¢Ã‚  The higher U.S. dollar also triggers additional pressure on China to float the yuan lower, as it is caught in the divergence between its two largest export markets—the EU and the U.S.. †¢Ã‚  For the U.S., the negative impact on exports is relatively small compared with trends in domestic demand, but the deflationary pressure on tradable goods will widen the divergence between reasonably strong inflation in the services sector vs. reasonably strong deflation in the goods sector. †¢Ã‚  The European Central Bank will be compelled to raise its level of intervention yet again, as risk premiums across the region rise. Among the larger Eurozone members, Italy is in a particularly vulnerable position—now made more vulnerable. Each blow to members of the Eurozone periphery also further make Germany’s outperformance in the Eurozone even more unsustainable. The nature of the UK’s eventual exit agreement with the EU is crucial, and hangs over a multitude of markets. CEP BREXIT ANALYSIS Life after Brexit: What are the UK’s options outside the European Union? It is highly uncertain what the UK’s future would look like outside the European Union (EU), which makes ‘Brexit’ a leap into the unknown. This report reviews the advantages and drawbacks of the most likely options. After Brexit, the EU would continue to be the world’s largest market and the UK’s biggest trading partner. A key question is what would happen to the three million EU citizens living in the UK and the two million UK citizens living in the EU? There are economic benefits from European integration, but obtaining these benefits comes at the political cost of giving up some sovereignty. Inside or outside the EU, this trade-off is inescapable. One option is ‘doing a Norway’ and joining the European Economic Area. This would minimise the trade costs of Brexit, but it would mean paying about 83% as much into the EU budget as the UK currently does. It would also require keeping current EU regulations (without having a seat at the tab le when the rules are decided). Another option is ‘doing a Switzerland’ and negotiating bilateral deals with the EU. Switzerland still faces regulation without representation and pays about 40% as much as the UK to be part of the single market in goods. But the Swiss have no agreement with the EU on free trade in services, an area where the UK is a major exporter. A further option is going it alone as a member of the World Trade Organization. This would give the UK more sovereignty at the price of less trade and a bigger fall in income, even if the UK were to abolish tariffs completely. Brexit would allow the UK to negotiate its own trade deals with non-EU countries. But as a small country, the UK would have less bargaining power than the EU. Canada’s trade deals with the United States show that losing this bargaining power could be costly for the UK. To make an informed decision on the merits of leaving the EU, voters need to know more about what the UK governme nt would do following Brexit. This is the first in a series of briefings analysing the economic costs and benefits of Brexit for the UK. Economists for Brexit: A Critique Professor Patrick Minford, one of the ‘Economists for Brexit’, argues that leaving the European Union (EU) will raise the UK’s welfare by 4% as a result of increased trade. His policy recommendation is that following a vote for Brexit, the UK should strike no new trade deals but instead unilaterally abolish all its import tariffs. Under this policy (‘Britain Alone’), he describes his model as predicting the ‘elimination’ of UK manufacturing and a big increase in wage inequality. These outcomes may be hard to sell to UK citizens as a desirable political option. Our analysis of the ‘Britain Alone’ policy predicts a 2.3% loss of welfare compared with staying in the EU. This is only 0.3 percentage points better than Brexit without unilaterally abolishing tariffs which would result in a 2.6% welfare loss. Minford’s results stem from assuming that small changes in trade costs have tremendously large effects on trade volumes: according to his model, the falls in tariffs become enormously magnified because each country purchases only from the lowest cost supplier. In reality, everyone does not simply buy from the cheapest supplier. Products are different when made by different countries and trade is affected by the distance between countries, their size, history and wealth (the ‘gravity relationship’). Trade costs are not just government-created trade barriers. Product differentiation and gravity is incorporated into modern trade models – these predict that after Brexit the UK will continue to trade more with the EU than other countries as it remains our geographically closest neighbour. Consequently, we will be worse off because we will face higher trade costs with the EU. Minford’s assumption that goods prices would fall by 10% comes from attributing all producer price differences between the EU and low-cost countries to EU trade barriers, ignoring differences in quality. Sin gle Market rules (for example, over product safety) facilitate trade between EU members as it creates a level playing field. Minford’s assumption that the Single Market merely diverts trade from non-EU countries is contradicted by the empirical evidence. Minford also overlooks the loss in services trade that would result from leaving the Single Market, such as ‘passporting’ privileges in financial services. Minford’s approach of ignoring empirical analysis of trade data seems predicated on the view that because statistical analysis is imperfect, it should all be completely ignored. But such statistical biases may reinforce rather than weaken the case for remaining in the EU. Theories need grounding in facts, not ideology. Bibliography https://fullfact.org/europe/our-eu-membership-fee-55-million/https://www.reuters.com/investigates/special-report/britain-europe-cost/https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7https://www.ft.com/content/61221dd4-d8c4-11e6-944b-e7eb37a6aa8e?mhq5j=e5http://www.nortonrosefulbright.com/knowledge/publications/115128/mifid-ii-mifir-serieshttp://uk.reuters.com/article/uk-britain-eu-banks/banks-planning-to-move-9000-jobs-from-britain-because-of-brexit-idUKKBN184132http://www.ey.com/Publication/vwLUAssets/ey-uk-eu-planning-for-uncertainty/$File/ey-uk-eu-planning-for-uncertainty.pdfhttps://www.reuters.com/investigates/special-report/britain-europe-cost/https://www.accountingweb.com/community/blogs/geoff-collings/the-effect-of-brexit-on-uk-accountinghttps://www.accountancyage.com/2016/07/21/what-brexit-means-for-accounting-employment-and-taxation-law/ http://www.europarl.europa.eu/RegData/etudes/BRIE/2016/587384/IPOL_BRI(2016)587384_EN.pdfhttps://www.ceps.eu/system/files/WD% 20429%20AB%20et%20al%20Brexit%20Applied%20Economics.pdfhttp://www.frbsf.org/education/publications/doctor-econ/2005/january/financial-markets-economic-performance/https://www.ft.com/content/74708d46-c6ca-11e6-8f29-9445cac8966f Mishkin, F. (2012).  Introduction to Financial Markets. [online] Www2.econ.iastate.edu. Available at: http://www2.econ.iastate.edu/tesfatsi/finintro.htm#FMI [Accessed 10 Sep. 2017]. Effect of Brexit on the Financial Markets Effect of Brexit on the Financial Markets What are financial markets? Financial markets are an open and regulated system where companies can raise large amounts of capital through bonds and stock markets, or offset their risk by investing in commodities, foreign exchange futures contracts or other derivatives. Due to the size of financial markets, they are highly liquid, meaning businesses can easily and quickly generate cash by selling their assets. Since financial markets are public and work under a lot of regulations, there is a lot of information transparency and prices of everything traded reflects this. (Source: â€Å"Six Basic Functions of Financial Markets†, Iowa State University, March 5, 2012.)   What is the European Union and what is Brexit? The European Union, like the name suggests is a political and economic union of 28 countries within Europe. The UK became part of the EU in 1973 and had to pay a membership fee every year The creation of the European union was to firstly bring countries together after the 2nd world war had left many economically and politically disabled or struggling. This economic cooperation would become the world’s biggest single market and it still is today. (European Union European Commission, 2017) Even though the UK has benefited a lot from being in a single market, there were many who thought that Britain would be better off on its own; and for this reason the government decided to have a referendum after which on the 23 of June 2016, Britain exited the Single market, giving back it’s seat in the European Parliament and all the benefits that came with it. How can financial markets affect economic performance? Demirgà ¼Ãƒ §-Kunt and Levine in their 2001 book, ‘Financial Structure and Economic Growth’ said there is a strong connection between financial markets development and economic growth. The way in which this happens is that a well-functioning financial market will efficiently direct the flow of savings and investments in an economy as such to enable businesses to accumulate capital and goods and services to be produced. A well-established financial market alongside a wide range of financial products will benefit borrowers and lenders and therefore the economy as a whole. Another benefit of an efficient financial market is that by providing a range of financial options at varying risk levels and pricing structures, borrowers and lenders can be closely matched for their individual needs. This allows investors to determine and calculate their cost of financing by looking at their returns on their investments and then choosing the best financing and investment choice for their requirements. The European Union created a single banking market with a single currency and therefore created Europe-wide financial markets which made investing and borrowing euro-denominated stocks, bonds and derivatives easy for all EU countries that are part of the Euro by eliminating exchange rate risks. By doing so, products and services that were previously only available on a country by country basis were now available to a wider market, creating better competition which in turn makes markets more efficient and prices lower for individuals.   This is called the ‘Single-Passport’ system, whereby any business set up in one-member state may provide its services to the rest without further authorisation requirements (European Commission 2016) Not only does euro-based financial markets benefit the Eurozone, it also attracts international investors to invest here and benefit from the competitive market, (Mishkin, 2012) and by being part of the ‘single-passport, Non-European companies can set up their head office in London, and have access to all the benefits of the Single Market. UK financial market relationship with the EU Professor Nick Bloom of Stanford University said: â€Å"The single European market increased competition and forced British firms to increase the level of innovation.† London is one of the biggest financial hubs of the world and hosts the largest number of banks and commercial insurance companies. According to (Belke A. et all) around 6 trillion euros, which is equivalent to 37% of Europe’s financial assets are managed in London, which is twice the amount of the nearest rival Paris. London also dominates Europe’s 5.2 trillion-euro investment banking industry. What this means is that major investments happing in some of Europe’s biggest cities are financed by companies operating within London. This is why, (Mark Carney, Governor of the Bank of England), said: â€Å"Europe relies heavily on London’s debt and equity markets.† When it comes to foreign exchange markets, the UK is way ahead of its European counterparts with an impressive almost 40% share of the worlds foreign exchange and derivatives handling. According to the (City of London Corporation) each year, $869 trillion worth of Euro, Yen and Dollars are traded from London. This is higher than all the Euro-Zone countries combined. https://www.reuters.com/investigates/special-report/britain-europe-cost/ London currently accounts for 70% of the Euro Sovereign debt trades, meaning that the EU countries cannot shut outlondons capital markets as this would be suicide. (Rueters) According to Reuters (Kai Pfaffenbach) Frankfurt is desperately trying win over businesses to relocate to their city from London. To help in this, the European Central Bank started the â€Å"Capital Markets Union† project in 2015, where they want Euro-zone financial markets to provide improved fund raising for companies by replicating Britain’s financial services and become more efficient in the stocks, bonds and other securities markets. How Brexit is affecting Financial Markets: https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7The question of how Brexit will affect the UK economy is very uncertain. The sterling fell to a 31 year low, stock markets fell and foreign direct investment has frozen. All these things point towards the short-term impact of Brexit to be very serious. The real question is, what will the long term effects be, and how will markets react to cope with such uncertainty about the future. The institutional framework of the EU and the euro has created dependencies amongst countries. For this reason, Brexit will have affects in not just UK financial markets, but financial markets across the globe. According to (Gordon and Shapiro 1956) the dividend discount model, expectations about future effects on financial markets will have an effect on stocks and other financial variables now. From the graph above, we can see that when the news of Brexit was announced and the UK markets became uncertain about the UK’s future in the single market, the pound fell to its lowest price in 31 years. Because of Brexit and Policy uncertainty, markets adopt a ‘wait-and-see’ attitude towards investment decisions.   If London is no longer part of the single market, it loses its attractiveness as a foreign direct investment hub and a gateway to the European financial markets. According to the financial times, almost half of the FDI coming to the UK comes from the EU and after Brexit, this investment will significantly decrease due to increased trade costs and tariffs. The Office of National Statistics (ONS) tells us that FDI has been about 5% of UK GDP between 1999 and 2015. The analysis from the financial times estimates the decrease in FDI would be 22%. The impact of Brexit on the UK financial sector can be broken down in to 3 things: What agreement can the UK make with the EU in its post-Brexit negotiations. The extent to which financial sector businesses move their operations from the UK to a Eurozone country before any negotiation agreements are made.How well the UK financial sector can survive based on its global position and relationship. Until a deal is made with the EU, we cannot predict how the market will end up like, but we can hypothesise certain outcomes like the following: Currently, the UK is still part of the EU, and hence has passporting rights. Once these rights are gone, UK firms will have to have state level authorisations from EU countries to perform activities. This will depend upon whether the regulators in those countries will allow UK financial markets to sill operate within their borders. The best outcome would be if the UK retains their passporting rights through either a negotiation or remaining a part of the EEA. Johnathon ford writes in the financial times that another option that UK based companies may have is to open up subsidiaries in different EU countries, that way giving them access to customers within those markets. This is however costly and inefficient. Alternatively, UK firms could take advantage of Third Country Regime (TCR) access provisions. What this means is that companies that were incorporated outside the EU can still do business on a cross-border basis if they wish to do so without having an establishment within that EU country, however EU law will require that the regulations and legal structure they follow complies with EU. Reuters business news tells us that Standard Chartered (Stan.L) and JPMorgan (JPM.N) were the latest global banks that have outlined plans for European operations after Brexit. Goldman Sachs Lloyd Blankfein said that â€Å"London’s growth as a financial centre could stall as a result of upheaval caused by Brexit.† So, because of Brexit and the uncertainty of what the future holds for UK’s financial markets; UK based financial firms especially those in London are looking to move their operations into the EU market to benefit from the single market. Another financial market area that will be affected by Brexit is that of selling of derivatives for companies to buy protection or lower their risk portfolio against changes the US dollar and or spikes in the price of oil. As a result of tighter financial regulations on banks, some will opt out of providing this service and those who do will offer a smaller variety of products at a higher price. Ultimately, this is bad for markets as they are not getting the best deal they can. London also dominates the euro derivatives market. EU policymakers have not liked this for a while and want to shift this to a Eurozone country after Brexit. This will in turn increase the price of trading for corporations that deal in multiple currencies as they will have to go through several clearing houses. Bankers are unsure how much extra it will cost a European company to borrow without direct access to London, however, the association for financial markets said customers are being overly optimistic if they think that lending agents will bear the burden or grunt of this. They will push the increased cost of borrowing onto the consumer, which will ultimately make them less competitive in the market. Ernst and Young say in their research paper that they surveyed major corporates including Airbus and Volkswagen and found that these companies were really worried about rising costs of funding as a result of Brexit. London has dominated the financial centre for decades and has built its reputation on the service it provides. It would be very difficult to replicate this market. This has been due to its vast talent pool, widespread use of the English language and the UK legal system and the vast amount of money going through the UK through these financial markets. Another great strength of the UK is its over-the-counter derivatives market. Corporations often use swaps to protect themselves against adverse interest rates and currency moves. Over-the-counter derivatives have to go through clearing houses who are sort of the middle man who make sure neither party defaults on their payments. Even though the UK is not part of the Euro single currency, it still manages  ¾ of all euro-denominated swaps. As the UK decides to leave the EU, this creates a problem, because now most of these swaps won’t be clearing through the bloc. Germany and France have already said that they want the euro-denominated derivatives to be cleat=red through the EU; however LSE has argued that doing so would cost London thousands of jobs. According to a private report by EY, this estimate loss of jobs could be around 83,000 by 2024. The EU needs London’s money, says Mark Carney, governor of the Bank of England. He calls Britain â€Å"Europe’s investment banker† and says half of all the debt and equity issued by the EU involves financial institutions in Britain. What impact would Brexit have on the way in which banks are regulated in the UK? There are three pillars in the UK banking regulations: The capital requirements directive IV and the capital requirements regulation.The banking act of 2009 Bank Resolution and Recovery Directive (BRRD) Since the BRRD and CRD IV were EU legislations, the UK has to decide after Brexit how much they want to keep. CRD IV implements the requirements of Basel III, which the UK would still be committed to after Brexit. Brexit will likely have an effect on the legislation application of the EEA branches and subsidiaries. What  Ã‚  impact would Brexit have on the UK insurance industry? The London market currently has access to over 500 million customers through the EU and a substantial amount of insurance and reinsurance is distributed into and out of the UK. For the UK to continue to have access to these customers, they have to negotiate bilateral treaties to ensure member states allow them passport into the EU. The prudential regulation authority (PRA) has been very involved in negotiating the solvency II directive which was based on the risk-based regime of the UK. What  Ã‚  impact would Brexit have on the UK funds industry? Currently most UK based fund managers already use Irish or Luxembourg UCITS and alternative investment funds (AIF) platforms for Pan-European distribution of funds therefore Brexit will likely not have much effect on this sector of the financial market. The problem the UK asset management industry will face is the risk of changes to rules enabling MIFID investment firms, AIFMS and UCITS management firms to choose UK based investment managers. Currently, the administration is deemed sufficient for EU firms to contract asset management jobs to the UK managers. Another drawback may be that EU member states may put obstacles in front in the form of tax regimes that make it less attractive for EU firms to hire UK investment managers. Corporate tax: The EU previously set the legal requirements for corporate tax in the UK. Since we will no longer be a part of the EU, these regulations will be revised by HMRC and new draft regulations will be put in place. Currently businesses that have offices within and outside the UK enjoy a 0% rate of withholding tax. This may no longer be the case and companies will look for ways to save themselves from varying taxations in different countries, or changing their place of business to protect themselves from higher or double taxation. VAT VAT was a European Union Concept and now that the UK government is responsible for this, they may decide to change the rates at which this is charged or what products VAT will be charged on. Accounting law At the moment, there is a significant EU accounting and company law legislations that may come under review after Brexit. These include, directive 2013/34/EU about annual financial statements, consolidated financial statements and reports. Directive 2009/101/EC about the disclosure of company documents and company obligations. Directive 2012/30/EU on the formation of public limited companies. Directive 89/666/EEC on disclosure requirements for foreign branches of companies. Global Impact of Brexit There is no roadmap to follow or analogy to invoke as a guide or pattern for how the Brexit vote will reverberate in the months and years to come. However, a few immediate consequences seem highly likely: †¢Ã‚  The flight to safety away from the epicenter of this British-EU divorce will push capital away from the region and toward key safe-haven markets including the U.S.—especially Treasuries—and to Japan. This will further lower market interest rates and raise relative currency values. †¢Ã‚  A higher U.S. dollar and Japanese yen are negative to both economies’ export sectors. In the case of Japan, this is particularly unhelpful to its efforts to reinflate and reinvigorate the economy after decades of deflation. †¢Ã‚  The higher U.S. dollar also triggers additional pressure on China to float the yuan lower, as it is caught in the divergence between its two largest export markets—the EU and the U.S.. †¢Ã‚  For the U.S., the negative impact on exports is relatively small compared with trends in domestic demand, but the deflationary pressure on tradable goods will widen the divergence between reasonably strong inflation in the services sector vs. reasonably strong deflation in the goods sector. †¢Ã‚  The European Central Bank will be compelled to raise its level of intervention yet again, as risk premiums across the region rise. Among the larger Eurozone members, Italy is in a particularly vulnerable position—now made more vulnerable. Each blow to members of the Eurozone periphery also further make Germany’s outperformance in the Eurozone even more unsustainable. The nature of the UK’s eventual exit agreement with the EU is crucial, and hangs over a multitude of markets. CEP BREXIT ANALYSIS Life after Brexit: What are the UK’s options outside the European Union? It is highly uncertain what the UK’s future would look like outside the European Union (EU), which makes ‘Brexit’ a leap into the unknown. This report reviews the advantages and drawbacks of the most likely options. After Brexit, the EU would continue to be the world’s largest market and the UK’s biggest trading partner. A key question is what would happen to the three million EU citizens living in the UK and the two million UK citizens living in the EU? There are economic benefits from European integration, but obtaining these benefits comes at the political cost of giving up some sovereignty. Inside or outside the EU, this trade-off is inescapable. One option is ‘doing a Norway’ and joining the European Economic Area. This would minimise the trade costs of Brexit, but it would mean paying about 83% as much into the EU budget as the UK currently does. It would also require keeping current EU regulations (without having a seat at the tab le when the rules are decided). Another option is ‘doing a Switzerland’ and negotiating bilateral deals with the EU. Switzerland still faces regulation without representation and pays about 40% as much as the UK to be part of the single market in goods. But the Swiss have no agreement with the EU on free trade in services, an area where the UK is a major exporter. A further option is going it alone as a member of the World Trade Organization. This would give the UK more sovereignty at the price of less trade and a bigger fall in income, even if the UK were to abolish tariffs completely. Brexit would allow the UK to negotiate its own trade deals with non-EU countries. But as a small country, the UK would have less bargaining power than the EU. Canada’s trade deals with the United States show that losing this bargaining power could be costly for the UK. To make an informed decision on the merits of leaving the EU, voters need to know more about what the UK governme nt would do following Brexit. This is the first in a series of briefings analysing the economic costs and benefits of Brexit for the UK. Economists for Brexit: A Critique Professor Patrick Minford, one of the ‘Economists for Brexit’, argues that leaving the European Union (EU) will raise the UK’s welfare by 4% as a result of increased trade. His policy recommendation is that following a vote for Brexit, the UK should strike no new trade deals but instead unilaterally abolish all its import tariffs. Under this policy (‘Britain Alone’), he describes his model as predicting the ‘elimination’ of UK manufacturing and a big increase in wage inequality. These outcomes may be hard to sell to UK citizens as a desirable political option. Our analysis of the ‘Britain Alone’ policy predicts a 2.3% loss of welfare compared with staying in the EU. This is only 0.3 percentage points better than Brexit without unilaterally abolishing tariffs which would result in a 2.6% welfare loss. Minford’s results stem from assuming that small changes in trade costs have tremendously large effects on trade volumes: according to his model, the falls in tariffs become enormously magnified because each country purchases only from the lowest cost supplier. In reality, everyone does not simply buy from the cheapest supplier. Products are different when made by different countries and trade is affected by the distance between countries, their size, history and wealth (the ‘gravity relationship’). Trade costs are not just government-created trade barriers. Product differentiation and gravity is incorporated into modern trade models – these predict that after Brexit the UK will continue to trade more with the EU than other countries as it remains our geographically closest neighbour. Consequently, we will be worse off because we will face higher trade costs with the EU. Minford’s assumption that goods prices would fall by 10% comes from attributing all producer price differences between the EU and low-cost countries to EU trade barriers, ignoring differences in quality. Sin gle Market rules (for example, over product safety) facilitate trade between EU members as it creates a level playing field. Minford’s assumption that the Single Market merely diverts trade from non-EU countries is contradicted by the empirical evidence. Minford also overlooks the loss in services trade that would result from leaving the Single Market, such as ‘passporting’ privileges in financial services. Minford’s approach of ignoring empirical analysis of trade data seems predicated on the view that because statistical analysis is imperfect, it should all be completely ignored. But such statistical biases may reinforce rather than weaken the case for remaining in the EU. Theories need grounding in facts, not ideology. 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(2012).  Introduction to Financial Markets. [online] Www2.econ.iastate.edu. Available at: http://www2.econ.iastate.edu/tesfatsi/finintro.htm#FMI [Accessed 10 Sep. 2017].