Target Economic Growth And Investment Economics Essay

 

The Indication which shows the increase of per capita gross domestic product (GDP) or other measure of aggregate income is called “Economic growth”. It is often measured as the rate of change in GDP. Economic growth refers only to the quantity of goods and services produced.

Economic growth can be either positive or negative. When economy is shrinking, that can be referred to Negative growth. Negative growth is associated with economic recession and economic depression. And when economy is expanding, that can be referred to Positive growth. It is associated with economic boom and economic explosion (growth).

There are some critical arguments have been raised against positive effects of economic growth.

Income distribution

Quality of life (e.g. Happiness)

Resource depletion

Environmental Impact

A number of critical arguments have been raised against negative effects of economic growth.

Quality of life (e.g. crime, prisons, or pollution, “uneconomic growth”.)

Growth 'to a point'

Consumerism

Environmental Impact

Equitable Growth

Budget 2010-11 with a GDP growth rate target of 4.5 per cent for next year presented

PPI 05 June 2010 Saturday | 14:52:00

Islamabad, Minister for Finance Dr Abdul Hafeez Sheikh Saturday presented a three point one trillion rupees budget 2010-11 in the National Assembly and termed it an investment, poor friendly and tax free budget for the next financial year.

He said,

Expected growth in Foreign Direct Investment is up to 15% as compare to 12% during the last fiscal year.

Projected export for the coming financial year grows by $19.9 billion as compare to current financial year’s target of $19.2 billion.

Increase in imports for the coming year has been projected by $31.7 billion.

Current account deficit is being targeted at $6.5 billion which would be 3.4 percent of the GDP in the next fiscal year.

The revenue collection has been targeted for the coming year at Rs.1667 billion.

Rs.1975 billion has been earmarked for current expenditures.

For debt retirement six hundred and eighty billion rupees have been allocated.

GDP growth rate has been target four points five percent (4.5%) as compare to four point one (4.1%) percent achieved during outgoing year.

Six hundred sixty three billion rupees are allocated to Public Sector Development Program in which special emphasis has been laid on the power sector for launching of new and completion of on- going projects for overcoming the energy crisis.

280 billion rupees have been earmarked for the federal government development program while 375 billion rupees have been allocated to the provinces for their development programs.

Strict measures will be taken to bring down the budget deficit from five to four percent during the next financial year.

Growth rate for other sectors 3.8 % for agriculture, 5.6% for manufacturing and 4.7% in services sectors set for the new financial year.

The economy is expected to continue to grow gradually through firm path of increased economic growth with lower inflation and continued support to protect the poor and vulnerable.

Investment in people, knowledge generation activities besides economic and institutional reforms would be ensured to enhance productivity and improvement leading to sustainable and inclusive growth.

India could grow by 8.5% in coming fiscal year asked by Manmohan Singh PM of India.

During a conference on Building Infrastructure hosted by the Planning Commission the Hindu Prime Minister Manmohan Singh with Finance Minister Pranab Mukherjee: Oppertunities & Challenges in New Delhi on Tuesday.

‘Mr. Manmohan says GDP to grow at 8.5% in Q$4’Farm recovery likely current year’

There are three topics following as under

Business (general)

Economy (general)

Finance (general)

Prime Minister Manmohan Singh on Tuesday showed confidence about Indian economy.

He said Indian economy will grow by 8.5 per cent in the coming financial year and go faster to 9% the following year from an estimated 7.2 % current fiscal.

For creation of employment for the youth and remove poverty, there should be expansion in economic to above 10 per cent per annum in the 12th Five Year Plan (2012-2017).

He said “We expect to achieve 8.5 per cent growth rate in the year 2010-11... I hope we can achieve growth rate of 9 per cent in the year 2011-12,”

Mr. Singh want the growth target of economy must be above 10% per annum. This is due to elimination of poverty and providing productive employment for young population in near future.

Indian economic growth declined due to the global financial crisis by 6.7%, after growing at over 9% in the three earlier years.

Economic growth at 7.2% in the current financial year estimated by the Central Statistical Organization (CSO), this is done due to the three financial incentive packages given by the Government to support the economy.

For the period of the 12th Five year Plan ending 2017 from the existing level, the investment in the infrastructure should be doubled to about Rs. Ten billion.

He said, “Preliminary exercises suggest that investment in infrastructure will have to expand to USD 1,000 billion in the 12th Five Year Plan. I urged the Finance Ministry and the Planning Commission to draw a plan of action for achieving this level of investment,”

Country needs an investment in infrastructure of over one trillion dollars in the 12th five year plan asked by Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Investment criteria, broadly speaking, refer to the codes which oversee “capital allocation” in an economy. The subject of ‘capital allocation’ assumes greatest importance in the peculiar conditions of under developed countries which are mostly capital-starved. Capital, being the hub of all economic development also in short supply, can only be economic development and also in short supply, can only be used very judiciously. The economy and efficiency in the use of capital are thus the abiding concerns of planners. There is however no consensus among the economists on the issue of ‘criteria’ or ‘rules’ which should govern capital allocation, or tests or standards or touchstones by which an investment decision may be judged. Investment ‘criteria’ have there for proliferated depending upon the specific objectives and economic priorities set forth by national leaderships.

There is a frequent change in governments of Pakistan and India and also rapid changes in policies and programs which are shattered the confidence of foreign investor to spend or invest their money.

New government must continue and make better those policies of previous Government for the best interest of the country and the investors.

Law and order situation of a country can force to an investor to invest in that country. Unfortunately, law and order situation in Pakistan and India is not satisfactory which keep away the potential foreign investors from invest in both countries. Safety of capital and the security for the personnel engaged in the projects are essential ingredients that govern foreign investment.

It is the Governments’ responsibility to make better law and order situation which is suitable and beneficial not only for the country but also for the investors.

It is the responsibility of the both governments to make the economic fundamentals of country are strong and predictable, then investors would want to invest in that country because the investor thinks that his or her investment in that country is safe.

Through special regulatory order the head of the state can overnight amend of alter the existing laws. The purpose of SRO’s to enhance the scope and intent and makes the business environment in a country. But some time it is not good for the investors. SRO’s issued under a particular law.

Both countries are democratic, the governments of both countries try to pass the law from the parliament and not issue the SROs by the president or prime minister’s.

Protected and friendly business environment is very essential for growth of FDI. Educated and skilled manpower is also essential for better business environment.

It is the responsibilities of the governments to improve local education system and trained the manpower according to the requirement of the market in the country and availability of ancillary & supporting industries etc. which are required both before and during the life of a project.

Infrastructure is life blood of the economy of every country. Infrastructure consists of communications, power, telecommunications, water, etc. It is the responsibilities of Pakistan and Indian governments to improve its infrastructure facilities to make business environment conducive to foreign investment.

Pakistan and India have record of economic growth in sixties as well as in the recent past. The countries have often come out with pro-investment policies. However, the ad-hoc-ism, and poor implementation of policies have been distorting the system. In order to attract more and more foreign investment, Pakistan and India have to ensure continuity of economic policies coupled with political stability.

Legal cover for foreign and local investment will be extended to new areas and sectors.

The benefits and incentives for investment provided by the Government shall continue, enforce and will not be reduced or altered to the disadvantage of investors.

The Acts like Foreign Private Investment (Promotion and Protection) Act, 1976 and the Furtherance and Protection of Economic Reforms Act, 1992 cover protection of foreign investors / investment in the country.

1985-86

93.7

106

1986-87

161.7

118.0

1987-88

129.0

212.0

1988-89

172.7

90.0

1989-90

216.2

252.0

1990-91

211.5

162.0

1991-92

237.0

141.0

1992-93

553.6

151.0

1993-94

443.2

273.0

1994-95

642.7

620.0

1995-96

1,532.3

1,750.0

1996-97

1,306.9

2,400.0

1997-98

949.5

3,351.0

1998-99

822.6

3,370.0

1999-00

499.6

2,439.0

2000-01

543.4

4,029.0

2001-02

182.0

6,130.0

2002-03

474.6

5,035.0

2003-04

820.1

4,322.0

2004-05

921.7

6,051.0

2005-06

1,676.6

8,961.0

2006-07

5,139.6

22,826.0

2007-08

5,152.8

34,835.0

2008-09

3,179.9

35,180.0

FDI creates an optimistic effect on economic growth in mass countries. It consists of capital, technology, management, and market access.

FDI is a major cause of much needed capital but is also considered be a major means for the access to advance technologies, organizational and managerial skills. Globally, it has grown rapidly in the recent years, faster than international trade. It has a optimistic overall effect on economic growth but the scale of this effect depends on the stock of human capital available in the mass economy and its strategies. The initial impact of an inflow of FDI is increase on the mass country’s imports of raw material and services and repatriated profit and balance of payments (BOP) is positive which adversely affects the BOP.

In this context Feldstein and Razin (2000) and Sodka (forthcoming) note that the gains to host countries can take several other forms:

Transfer of capital and technology is not possible through financial investment in goods and services but allows by the FDI

Competition in the domestic input market is promotes by the FDI

FDI is generated Profits contribute to the corporate revenue in the host country

FDI is help out to employee for learning of operation of new business in the host country. This contributes to human capital development of the host country.

Beneficial foreign direct investment is a main part of the economic development strategies for a country. Towards the economic growth of the country the domestic capital, production level and employment opportunities take place a vital role; it ensures by the FDI. The effects of FDI are by and large transformative. The incorporation of a range of well-composed and relevant policies will boost up the profit ratio from Foreign Direct Investment higher. Some of the biggest advantages of FDI enjoyed by India have been listed as under:

Foreign direct investment can effects the Economic growth because it is a one of the major sectors which can be increase or decrease the economic scale of a country. An extraordinary inflow of FDI in various sectors in a country has enhanced the economic life of country.

FDI is facilitates the opportunities for import and export production in a country. If there is greater amount of FDI inflows in the country, the country will manufacture superior quality products.

The poverty level of a country will reduce due to better FDI inflows and it also creates or facilitates a number of employment opportunities by establishing new projects in different sectors in various corners of the country.

With the help of FDI country can transfer or get knowledge especially in the information technology sector from other country. It is helpful to enhancing the technological advancement in a country.

To get maximum profits and benefits from the targeted market of a particular country, there must be a Joint Ventures and Collaboration.

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Various Theories Concerning Foreign Direct Investment Economics Essay

This assignment tries to discuss various theories concerning foreign direct investment and give the statement as to whether the theories provide a successful explanation of the main determinants of such activity

In real sense the main theories of FDI does not provide successful explanation of the main determinants for such activity, as explained by Dunning and Lundan (2008:81) Multinational Enterprises and Global Economy 2nd Edition.

Definition of foreign direct investment

According to Graham and Spaulding (website information) direct foreign investment in its classical definition is defined as the company from one country making physical investment into building a factory to another country. Foreign direct investment (FDI) plays an extraordinary and growing role in global business. It can provides a firm with new markets and marketing channels, cheaper production facilities, access to knew technology, products, skills and financing. For a host country or the foreign firm which receives the investment, it can provide a strong impetus to economic development. The direct investment in building, machinery and equipment is in contrast with making a portfolio investment, which is considered an indirect investment. In recent years, given rapid growth and change in global investment patterns, the definition has been broadened to include the acquisition of lasting management interest in a company or enterprise outside the investing firm’s home country. As such, it may take many forms, such as a direct acquisition of a foreign firm, construction of a facility, or investment in a joint venture or strategy alliance with a local firm with attendant input of technology, growing, licensing of

Ewe-Ghee Lim (web information) The paper tells about two aspects of direct foreign investment (FDI): its correlation with economic growth and its determinants. The first part focuses on positive spillovers from FDI while the second deals with the determinants of FDI. The paper finds that while substantial support exists for positive spillovers from FDI, there is no consensus on causality. On determinants, the paper finds that market size, infrastructure quality, political/economic stability, and free trade zones are important for FDI, while results are mixed regarding the importance of fiscal incentives, the business/investment climate, labour costs, and openness.

Dunning (1993:3), explain that there is less disagreement about

FDI THEORIES globalisation as a process of towards the widening of the extent and form of cross-border transactions; and the deepening of the economic interdependence between the actions of globalising entities located in other countries.

The FDI theories explain the reason why FDI occurs and the determinants of FDI. The theories have traditionally emphasises market imperfection

(Hymer, 1960; Kindlebeger, 1969) and firm specific advantages or ownership advantages derived from the ownership of intangible assets such as technologies, management skills, and organisational capabilities (Caves, 1971). Hymer’s market imperfections theories suggested that a firm may have certain advantage that may be generated from the fields of technology, management or marketing

A. L Calvet (1981:43-59) Journal of International Business Study (hhtp://teaching.ust.hk/ Accessed on 07.11.2009. He assert that Kindleberger provided the first comprehensive survey of the various theories of foreign direct investment along with the lines expressed by Hymer. He approached the question of direct investment from the standpoint of the perfectly competitive model of neoclassical economics by asserting that in a world of pure competition direct investment could not exist. Kindleberger (1969, p13) Indeed, when all markets operate efficiently, when there are no external economies of production or marketing, when information is costless and there are no barriers to trade or competition, International trade is the only possible form of international involvement. Logically, it follows that is the departures from the model of perfect competition that must provide the rationale for foreign direct investment. The first deviation had been noted by Hymer (1960/1976), who postulated that local firms have better information about the economic environment in their country than do foreign companies. According to his argument, two conditions have to be fulfilled to explain the existence of direct investment: (1) foreign firms must possess a countervailing advantage over the local firms to make such investment viable, and (2) the market for the sale of this advantage must be imperfect. It was, thus, a natural step for Kindleberger later to suggest that market imperfections were the reason for the existence of foreign direct investment. Specifically, he came up with the following taxonomy: Imperfections in goods markets, imperfections in factors market, scale economies and government imposed disruptions. This classification may be called the market paradigm; To encompass new developments in the field of determinants of foreign investment, a somewhat different taxonomy from that of Kindleberger was proposed to distinguish among four classes: (1) market disequilibrium hypotheses, (2) government-impose distortions, (3) market structure imperfections, and (4) market failure imperfections. The common feature found in all the hypotheses in group (1) will be the transitory nature of foreign direct investment. FDI is an equilibrating force among segmented markets which eventually comes to an end when equilibrium is re-established; that is when rates of return are equalized among countries. The unifying characteristic in group (2) will be the role played by either host or home governments in providing the incentive to invest abroad. Group (3) will include theories in which the behaviour of firms deviates from that assumed under perfect competition, through their ability to influence market prices. Finally, in group (4) will be classified theories which depart from the technical assumptions behind the model of perfect markets; that is, the assumptions about production techniques and commodity properties. This last category will deal basically with those phenomena which lead to market failure or, cases where “the decentralizing efficiency of that regime of signals, rules and build in sanctions which defines a price market system” will fail. (Bator 1958, p. 352)

Market disequilibrium hypotheses: The notion of a perfect economy and perfect competition requires the assumption that prices everywhere are adjusted to bring supply and demand into equilibrium. It may well be that because of segmentation in world markets rates of return are not equalized internationally. In a disequilibrium context flows of FDI would take place until markets return to stability. Instances of disequilibrium conditions that provide incentives to invest abroad are those which apply to factor markets and foreign exchange markets.

Ragazzi (1973:491) State that Currency overvaluation is perhaps the most salient example of these disequilibrium hypotheses. A currency may be defined as overvalued when at the prevailing rate of exchange production costs for tradable goods in the country are, on the average, higher than in other countries. Such an occurrence creates opportunities for profit-making by holding assets in undervalued currencies with the expectation that, once the equilibrium in the foreign exchange market is re-established, capital gains will be realized. In meantime, there is an incentive to locate production of internationally traded commodities in countries with undervalued currencies and to purchase income producing assets with overvalued money. The important point is that, once exchange rates return to equilibrium, the flow of FDI should stop. Even more foreign investors should sell their foreign assets, pocket the capital gains, and return to domestic operations.

Foreign direct investment may be attracted toward areas where the average rates of profit are higher. This is basically the capital markets disequilibrium hypotheses. It implies that, for a given level of risk, rates of return on assets are not equalized internationally by portfolio capital flows, due to inefficiencies in securities markets-such as, thinness or luck of disclosure.

“According to Piggott and Cook (1999:260-261) International Business Economics: A European Perspective 2nd Edition

It is difficult to fit into one neat theory because of the problem of definition; secondly any theory of FDI is almost inevitably a theory of MNCs. as well, and thus inseparable from the theory of the firm. Thirdly, the nature of FDI makes it a multidimensional subject within the sphere of economics as well as an interdisciplinary one. It involves the theory of the firm, distribution theory, capital theory, trade theory and international finance as well as the discipline of sociology and politics. It is therefore not possible to identify any single theory of FDI due to many explanations of FDI. Also not easy to classify these explanations into distinct and neat groups, due to substantial overlapping between some of the explanations.

They grouped the theories into three categories.

1).Traditional theories

2).Modern theories and

3).Radical theories

Traditional theories are based on neo-classical economic and explain FDI in terms of location-specific advantages.

Morden theories emphasise the fact that product and factor markets are imperfect both domestically and internationally and that considerable transactional costs are involved in market solutions. Also they acknowledge that managerial and organisational functions play an important role in undertaking FDI.

The radical theories, these take a more critical view of Multinational National Corporation (MNCs).

Let 1st examine the ownership, Location and Internalisation advantages, sometimes referred as paradigm of OLI.

To explain the activity of MNCs there is three different types of advantages which is important.

These refer to certain types of knowledge and privileges which a firm possesses and are not available to its competitor.

These arise due to the imperfections in commodity and factor market.

Imperfections in commodity markets include product differentiation, collusion, and special marketing skills, and in factor markets appear in the form of special managerial skills, differences in access to capital market, and technology protected by patents. Imperfect market may also arise from the existence of internal or external economies of scale or from government policies regarding taxes, interest rates and exchange rates.

The market imperfection gives rise to certain ownership-specific advantages, grouped under the following headings:

Technical advantages-include holding production secrets such as patents, or unavailable technology or management-organisational techniques.

Industrial organisation-relates to the advantages arising from operating in an oligopolistic market such as those associated with joint R&D and economies of scale.

Financial and monetary advantages-includes preferential access to capital markets so as to obtain cheaper capital.

Access to raw materials-if a firm gains privileged access to raw materials or minerals then this becomes an ownership-specific advantage

2).Location-specific advantages (LSA)-This refer to certain advantages which the firm has because it locates its production activities in a particular area:

a) .Access to raw materials or minerals this normally represents an LSA. This advantage, however, applies to all the firms established in the locality and is not sufficient to explain FDI in itself pg 261

b). Imperfections in international labour markets-these create real wage-cost differentials which provide an incentive for the MNC to shift production to locations where labour costs are low. Example electronics component firms using South East Asian locations for assembly production.

c). Trade barriers-These provide an incentive for MNCs to set up production in Europe to avoid CET. Similarly, high Canadian tariff barriers have been used in the past to attract US direct investment.

c). Government policies-such as taxation and interest rate policies can influence the location of FDI.

Internalisation-specific advantages (ISA) occur when international market imperfections make market solution too costly. This means the market is too costly or inefficient to undertake certain types of transactions, so whenever transactions can be organised and carried out more cheaply within the firm than thorough the market they will be internalised and undertaken by the firm itself.

The benefits of internalisation are as follows:-

a). the advantages of vertical integration cover such things as exploitation of market power through price discrimination and avoidance of government intervention by devices such as transfer pricing.

b). the importance of intermediate products for research-intensive activity: the firm appropriates the returns on its investment in the production of new technology by internalising technology.

c). the internalisation is not entirely costless. It creates communication, co-ordination and control problems. There is also the cost of acquiring local knowledge.”

1). Traditional theory

Capital arbitrage theory

The theory states that. Direct investment flows from countries where profitability is low to countries where profitability is high. It means therefore that capital is mobile both nationally and internationally. But sometimes implication is that countries with abundant capital should export and countries with less capital should import. If there was a link between the long-term interest rate and return on capital, portfolio investment and FDI should be moving in the same direction.

International trade theory-the country will specialise in production of, and export those commodities which make intensive use of the country’s relatively abundant factor.

2). Modern theory

Product-cycle theory –

New products appear first in the most advanced economy in respond to demand conditions.

The maturing product stage is described by standardisation of the product, increased economies of scale, high demand and low price

The standardised product stage is reached when the commodity is sold entirely on price basis.

The internalisation theories of FDI

The theory explain that why the cross-border transactions of intermediate products are organised by hierarchies rather than determined by market forces.

The theory of appropriability. The theory explains why there is a strong presence of high-technology industries among MNCs

3).The electric theory of FDI

The theory tries to offer a general framework for determining the extent and pattern of both foreign-owned production undertaken by a country’s own enterprises, and that of domestic production owned or controlled by foreign firm. Dunning and Lundan(2008)

Robock and Simmonds (1989:48) International Business and Multinational Enterprises 4th Ed

Assert that, the electric theory of international production enlarges the theoretical framework by including both home-country and host-country characteristics as international explanatory factors. It argues that the extent, form, and patterns of international production are determined by the configuration of three sets of advantages as perceived by the enterprises. First Ownership (O) advantage 2nd Location (L) and 3rd Internalization (I) advantage in order for the firm to transfer its ownership advantages across national boundary

Daniels, Radebaugh and Sullivan (2009:287) 12th Edition. International Business: Environment and Operations: Pearson International Edition

This is the theory which shows four conditions which is important for competitive superiority: demand conditions; factor conditions; related and supporting conditions and the firm strategy, structure and rivalry.

Demand conditions whereby the company start up production at near the observed market for example an Italian ceramic tile industry after World War II: At that time there were post-war housing boom and consumers wanted cool floors because the climate was hot.

Another factor is factor conditions which recall natural advantage within absolute advantage theory and the factor-proportions theory

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Has Islam Defined The History Of Pakistan History Essay

 

There have been many defying moments in Pakistan’s History and this essay will look to see how Islam has played a role throughout Pakistan’s sixty-three years of existence and whether it has had an effect on Pakistan’s history.

Islam is widely regarded as the fastest growing religion, second only to Christianity in its number of members (Sardar, 2002). It maintained that Pakistan was created as a Muslim state and therefore religion has had a distinct role in its history as well as its political evolution. It is widely claimed that Pakistan became the first Islamic ideological state of the modern times. Unlike non-ideological states, it was not established due to any geographical conflict or territorial domination by a group of people.

So this sinister idea, that Pakistan, like Israel and Iran, is one of three confessional states in the world; that, like Israel, its very origin was to fulfil a religious ideal, to create an Islamic state and Islamic society for the Muslims of India. The regime of General Zia UL-Haq has declared similarly that Pakistan was created to establish an Islamic state for the Muslims of India. With a lack in a popular mandate, the military regime has sought its claim to legitimacy, if not its purpose, in divine decree. (Alavi 1988)

Religion plays a central role in bringing a nation together. Once Pakistan was created, Islam was charged with the task of containing it. The mix of Islam and ethnicity on which Pakistan was premised did not by itself constitute a national identity. Hamza Alavi provides great sight into the relationship between Muslims in India and the creation of Pakistan. He argues that it was not Islam; rather Muslims in India that acted as a catalyst and the means for the creation of Pakistan in 1947.

Consequently, the claim that Pakistan was created to fulfil the ‘millenarian religious aspirations of Indian Muslims’ is further flawed by the fact that the main bearers of the Islamic religion in India were aloof from the Pakistan movement. The Muslim League even during its heydays was never an organization. Rather the sole reason for its phenomenal success was mass popular support. The Pakistan movement though led by secular, liberal educated middle classes primarily drew its mass support on the basis of an Islamic communitarian tradition.

Hamza Alavi, writing in ‘Islamic Reassertion in Pakistan’ argues that, ‘It is only in retrospect, when history is being rewritten, that Jinnah is pictured as a religious bigot. The fact remains that Islam was not at the centre of Muslim nationalism in India, but was brought into the political debate in Pakistan after the nation was created.’ (Alavi 1988)

The Pakistan movement, in that sense and to that extent, became a national movement, on the basis of the 'Two Nation Theory' that Jinnah propounded, affirming that Muslims of India were a separate nation from Hindus. Insofar as their politics entailed the establishment of their own state, their objective was the creation of a 'Muslim state', as a nation state; they did not seek an 'Islamic state', as a theocratic conception. (Alavi 1988)

Islam may not be the major factorial issue that has affected Pakistan’s history as other areas that have affected Pakistan would be its political arena and its military’s function; these two topics intertwine with each other.

Pakistan was created amidst a great Hindu Muslim conflict, because of which the Pakistani nation had a very strong sense of coherence among its social structures. In August 1947 to provide a better homeland to Muslims Pakistan gained independence from British Colonial rule. But the intellectual and physical efforts towards political and national solidarity lacked the cultural and religious commonness. They were solely dependent upon the Muslim nationalism that had developed before the creation of Pakistan.

What Pakistan has witnessed is growing disparity between class structures, internal contradictions and a power struggle between the political elites and the military. Civilian and Military governments have both been responsible for such actions but looking at statistics it shows that military regimes have performed better than civilian governments. The military is an essential part of the Pakistan political set up. It would be hard to imagine the state of Pakistan without a strong army who interferes in policy matters and has a strong say in the functioning of the government.(Monshipouri & Samuel 1995: 973) It is important to analyze and ask why the military has such a stronghold.

Well at independence there was a lack of a political setup and so Pakistan followed the British style of governance – a strong bureaucracy. (Gardezi & Rashid 1983: 5) This strong bureaucracy led the way for feudal aristocrats and a group of rich professionals and merchants to carve policies. The policies that were initiated were in favour of the political elite. This weak and hardly entrenched way of governance paved the way for the armed forces in the political structure of the nation. The case of the army was further helped by a growing threat from India over the issue of Kashmir.

For instance, the issue of Kashmir is only one example of how Pakistan started at an unequal footing in terms of land, capital and military strength. Another major setback was the fact that all the major industry was located in India, and the new nation of Pakistan was namely an agricultural economy dominated by feudal (landowners) that did not help the situation. Almost all political democratic institutions were left in India and the war of 1948 immediately plunged the nation into conflict showing the necessity of the military for national defence. The death of Mohammad Ali Jinnah, premature demise of Liaqat Ali Khan, and the barely adequate leadership thereafter brought about the first military coup in 1958 by Ayub Khan only nine years after independence.

Ayub Khan declared martial law in 1958 and carried out policies of industrialization. His policy of industrialization did really well as Gross National Product increased by over 60% from 1959 to 1968.(MacEwan 1970: 8) Even with massive population growth, the average per capita income of people grew by almost 30%. The previous civilian governments only managed to increase the gross national product at the rate of 5.1% annually, with population growing at 2.8% it meant that average income only grew by 2.3%. (Burki 1983: 302) Ayub Khan’s ‘decade of development’ ended in 1968. He gave Pakistan ‘relative political stability and a coherent public policy’ (Wilcox 1969: 90)

In 1970 Zulfiqar Bhutto and his Pakistan People’s Party won a free election and made the government the ruling party. This was the first civilian government since 1958. He wanted to close the income gap between class structures and change the economic structure of Pakistan which had increasingly become elitist. He was not successful in implementing many of his policies and the country as a whole did worse than it did in the period of Ayub Khan. (Monshipouri & Samuel 1995: 978) He tried to balance all sections of society, which resulted in poor economic performance. Public sector invest grew from 5% in 1971 to 74% in 1977, leading to a decrease in private investment. (Monshipouri & Samuel 1995: 978) Large scale manufacturing declined during his time, it grew at a rate of less than 2% compared to rates of 10% during the ‘decade of development’ in Ayub Khan’s time.

This was followed by another military coup by Zia UL Haq who took control in 1977. New innovations were introduced in banking and taxation under the name of Islamization. (Gardezi & Rashid 1983: 14) This regime re-emphasized some policies of the Ayub Era. This showed in figures; the Gross Domestic Product grew at 6.3% during 1978-1983. (Monshipouri & Samuel 1995: 979) The growth of the manufacturing industry was at 9% compared to the 3.8% during 1972-1978. The growth in the later half was even better. GDP grew at an annual rate of 6.6% from 1983 to 1988 and large scale manufacturing grew at an average rate of 16.6%.

A strong government is essential for political and economic development. But the 1990s were unprecedented in the history of instable political and economic development in Pakistan. There was increasing pressure on the economy to do well; majority of the budget went towards debt financing and the military, the civilian governments tried to vest more power in the Prime Minister as opposed to the President resulting in the short span of governance by the same political party. The short occupancy of a single democratic administration meant that reforms could not be carried out effectively; no significant change resulted.

 It is interesting to analyze the role of civilian and military regimes and how they have done in terms of political and economic development. Looking at historical figures statistically it would suggest that during the rule of the military Pakistan has achieved sustainable economic growth. Much healthier when compared to civilian governments in retrospect. But this doesn’t suggest that military regimes are better for economic growth than civilian governments, but does indicate that to have sustainable economic growth you need a stable political system, and surprisingly with Pakistan this has been provided by the military organization rather than elected chosen governments of the people. Why has this trend carried on for so much for the history of Pakistan?

 There is no simple answer to this question, but it can be traced back to the partition and gaining independence from direct British colonial rule. From the beginning the military was an important part of the political setup, it was an internal rather than an exogenous factor in the political apparatus of post independence Pakistan.

So why have the military seized power four times (’58, ’69, ’77 and ’99 (Schaffer 2002: 7)) in Pakistan’s 63-year history? This goes to heart of many problems with the very institutions inherited in Partition, lack of a strong design, foreign intervention and support, elite control, half-successful nationalism, regional inequalities and representation as well as unequal resource collection and allocation.

It’s because the failures of civilian regimes automatically paved the way for the military, thus the four times military men have ruled Pakistan. Military regimes have tried to make them democratic through the constitution and gain legitimacy through the political apparatus. It appears that the civilian governments were in a balance of power struggle between the prime minister and the president which effectively carved the way for the military to take over. It would be wise to say that military governments in Pakistan provided economic and political stability that was missing in civilian governments. But the military must stop thinking of itself as a saviour to the crises created by the civilians and let the civilian politicians sort out their own mess. For only then can a true democracy emerge?

In conclusion Pakistan the problems that Pakistan is facing in terms of the democracies and military coups come from a various number of reasons and inequalities that have compounded to create an almost predictable cycle of military coups from the democratic governments. This comes in part from the military’s role as protector of the State. The key for democracy and the strengthening of democratic institutions in Pakistan is simply education not just literacy, with education people can create their own nation and eventually Pakistan will become a developed nation of solvent institutions and become a powerful economic power to be truly independent.

There needs to be a reform of parliament and political parties. One of the major problems is that existing political parties do not allow a proper democracy to develop, because there is no shifting pluralities to allow the electorate to keep elected officials in check. Allow more power in the hands of the citizenry, not in the vested interests of political elites. Furthermore there needs to be institutional reform and checks and balances, creating a more formal role for the military. Looking at the issues in this essay that has affected Pakistan it can be said that each one of them contributed in its own way towards the promotion of Pakistan’s national solidarity and a Pakistani Identity.

However overall Pakistan’s history has been a most turbulent one, “producing anything but a participatory democracy” (Siddiqui 2001: 7) where men have lusted after power for their own purposes and the people have suffered without a say in how their country is run. As Kapur put it “they had not been groomed in the nursery of democracy and in the ideas of individual freedom, liberty and nationalism”. (Kapur 2002: 8)

It is still in the process of determining its political scope for the future, still in the process of settling down with an effective form of government. A great weakness of the Pakistani Government contrasting greatly with the Indian one is the lack of power separation of the military with the executive. The collapse of Ayub’s policies to bring Pakistan into a more secular, foreign-friendly nation and his attempts to modernize the nation, indicate that Islam did in fact have a significant political role in state affairs and is probably why Pakistan is still non-secular.

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Hadrians Building Projects Across The Empire History Essay

The reason I have decided to research and analyse sources concerning Hadrian’s building projects are that I believe they provide a good insight into understanding Hadrian himself and also his reign as emperor. Hadrian’s reign has further interest to me due to his lasting impact on architecture, and recent archaeological sites, such as Sagalassos in Turkey, have brought Hadrian into the forefront of ancient Roman study.

Marble bust of Hadrian during his reign

Hadrian’s appearance and the way he presents himself to both his subjects and for future rulers can teach us much about him and therefore his reign. The Greek style beard opposed to the more conservative appearance of cleanly shaven reflects Hadrian’s philhellenic attitude and reflects on his scholarly and somewhat radical approach to ruling. This is reflected in the changes on Roman society with the incorporation of conquered peoples fashions and ideology.

“He built something in almost every city”

Historia Augusta Hadrian 19.9

This source indicates a building boom that spread throughout the empire under the reign of Hadrian. This demonstrated both the affluence and the stability in his reign. To be able to partake in these building projects, Hadrian must have had the funds and resources to make them possible. There would also have to have been stability in the empire to allow the projects to be sustained without disturbances.

The exterior of the Pantheon

The Pantheon was a leading triumph of Roman architecture during Hadrian’s reign that symbolised the nature of the reign itself. It encapsulates both Hadrian’s ability of selecting the optimum architects to fulfil his wishes and the influence of the ancient Greek society on the Roman world. Hadrian greatly influenced the design of the building, such as the domed roof that Hadrian favoured, which would still be a phenomenal feat today. This demonstrated his direct influence on his empire but may also suggest that he was largely concerned with improving the aesthetics of his cities rather than the social issues. The influence of Greece on Rome is demonstrated by the Corinth capitals heading the columns; the structure of the roof also reflects the temple of Athena in Athens, as can be seen on the left. As can be seen, the rectangular shape and triangular roof, though it has fallen down on the temple of Athens, has directly influenced the Pantheon.

The inscription dedicated

By Agrippa and restored by Hadrian

As can be seen in the source, though built by Hadrian, the inscription dedicates the pantheon to Marcus Agrippa. During his reign Hadrian created several spectacular buildings but did not inscribe his name to any, except the temple of his father Trajan. This demonstrates that Hadrian was very modest in his outlook on life. It also indicates that his reign was a period of peace as the same consul was elected three times, suggesting stability in the senate.

The interior of the Pantheon seen from the entrance

To the rotunda

The Pantheon’s ceiling is the largest un-reinforced concrete dome in the world. This demonstrates the ingenuity and innovation of the Roman builders during Hadrian’s reign. The Pantheon was an iconic building during both the ancient and modern world. The scale at which Hadrian was able to build demonstrates again the skills of his workforce and the resources and funding that were available to him. The source also demonstrates the significance of religion in Hadrian’s empire. This temple dedicated to all gods reflected Hadrian’s devotion to the deities and the extent he would go to honour them. The word pantheon is formed of two Greek words, “pan” meaning all and “theos” meaning gods; the literal translation therefore is all gods. This demonstrates that Hadrian intended to honour all the gods of the Roman religion demonstrating his piety.

Marble Head from a colossal statue of Hadrian,

excavated at Sagalassos, south west Turkey.

This colossal statue of Hadrian demonstrated to his subjects in the province of Pisidia the full authority he had over them, as his statue would dominate their view. Found in what remains of the city Sagalassos, the statue represents Hadrian as an almost godlike figure and this would demonstrate to the people of this city the power he had as well as satisfy his own vanity. Statues of this sort are intended to glorify the emperor and this statue more than illustrates Hadrian’s control over a somewhat distant province. The source can therefore be shown to demonstrate the stability of the empire.

2.

Housteads Crags , Hadrian’s wall

Map of Northern England and southern Scotland with outline of Hadrian’s Wall.

Hadrian’s Wall was built in one of the furthest provinces in the Roman world Britain. It demonstrates military efficiency in being able to complete such a large project in a short time and was also a symbol of authority in the province. The extent of the size of the wall shows the building skills of the Roman builders and also the uncompromising attitude of the Romans by building across all kinds of terrain as seen in the source. The source also indicates limitations of Hadrian’s. Due to the risk of imperial overstretch the wall was formed he as further expansion into north Britain was not feasible.

Aerial view of Hadrian’s villa in the foothills

of the Tiburtine Mountains

As soon as he had been appointed emperor, Hadrian began planning what would eventually become his villa. By erecting this villa, Hadrian enhanced and belittled an established tradition of the Roman emperors. Though motivated by social convention, Hadrian extended his project to further glorify him and distinguish himself form other emperors. The result of his planning and almost twenty years of work was the largest villa in the Roman world. This building demonstrates Hadrian’s attempt to distinguish himself from previous emperors and well as demonstrate to his people the affluence and extravagance of the empire under his reign. His concept of rule was established by this project which incorporated both novel and traditional views and was seen by Hadrian as an architectural wonder where he could do as he pleased.

Statue of Antinous in the guise of the

Egyptian god Osiris

The Statue of Hadrian’s close friend and most likely his gay lover as an Egyptian deity found in the shrine to him after Antinous’ death demonstrates the incorporation of provincial fashions and deities into the Roman way of life. The openness of the shrine to Antinous and several other statues erected in his honour could suggest that the Romans displayed a liberal view on homosexuality during Hadrian’s reign compared to more recent history. However it may also demonstrate the absolute of the emperor that no-one would question his actions.

Word count = 1127

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Wages In The United States 1880 To 2008 Economics Essay

This paper is a research on the changing policies and legislation on wages and how it has affected the income of American working class families by analyzing the history of wages in America from 1880 when the factory system led to the development of the industrial working class to 2008 where wage inequality and falling value of wages has impacted the actual incomes of working class families.

The main problem that the study wants to answer is whether there is a relationship between the historical development of capitalism in America and the problem of falling incomes due to the current policies and laws concerning wages.

To find out the answer to the problem the research will review the history of industrialization, labor unions, and wage policies in America.

The stagnation of wages in America has led to a widening gulf in the income levels between those on top those at the bottom of the income ladder. The real value of wages has also fallen as compared to its value in the 1970s so much so that at present levels workers are earning 25% less than their counterparts 25 years ago.

Different factors such as flexible working hours, influx of cheap undocumented migrant labor, and the economic recession have been identified as the reason for the downtrend in the value of wages. One other problem is that in America wages are traditionally determined by market forces and as such its rate is determined by the law of supply and

demand. This means that the higher the supply of labor compared to a low demand of the job market would result in cheaper wages. In America today a lot of people are getting better education which translates to higher paying jobs but in reality the existence of such jobs are few and far between primarily because the economic recession has led to a lot of business foreclosures, or downsizing, and restructuring of companies which leads to the scarcity of jobs.

While there is a federal law that determines a standard minimum wage, statistics shows that between 1979 and 2003 there was a 29% decrease in real terms of the minimum wage. In 2007 the real median household income fell about 0.6% lower in 2007 compared to the levels at the end of 1990. Although there was a growth in incomes by 1.3% or about $665 between the years of 2006 and 2007 all in all this growth is not enough to recover from the loss of income levels in the previous years. Income inequality reached even higher levels when former President George Bush came to power, with the incomes of the poorest households declining in comparison to the rising incomes of the richest households.

The current situation is as much a product of historical development in terms of policy decisions as it is an isolated social phenomenon brought about by a modern globalized economy. Since the 1970’s American wages has seen a steady decline as the post-war boom era came

to an end and the global economy was first hit by recession that continued with its economic roller coaster ride up to the early 1990’s. There was a slight pickup in the economy during the technological revolution and construction boom of the mid-90s, but this was not based in the development of productivity or industrial growth but was more due to an artificial portfolio investment boom and growth of credit which led to the market crash during the early millennia.

As a response to the crisis governments and corporations have introduced measures aimed at saving the interest of businesses rather than securing jobs and protecting wages. Downsizing of production, plant and management restructuring of industries, and the flexibility of working hours from a standard 8 hour working time has led to lower wages which in turn leads to low family incomes.

One of the factors that also affects wages and wage policies is the organized strength of workers and trade unions. The federal minimum wage standard was actually established in 1938 as a response of government to the growing threat of trade unions and is part of the efforts of the Roosevelt administration to win over labor while protecting the interest of capitalists. In 1980 labor unions have been constantly attacked by right wing conservatives in government who see organized labor as a threat to the economic interest of big business. Union busting and a downtrend in union membership and union militancy led to the introduction of measures that have

attacked job security and gave corporations a free hand in determining wages.

The attacks on labor unions have led to an onslaught of wage violations by big businesses. These violations include non-payment of overtime pay, their take home pay lessened by illegal deductions to their paychecks, being forced to work beyond their schedule without being paid and being paid less than what is mandated by law to be the minimum wage standard.

Most of those who suffer violations are low wage workers, 39% of whom are undocumented, 31% legal migrants, and 30% are native born Americans. This data shows that how workers are treated and how their rights to decent jobs and wages are violated is directly related to their capacity to organize, mobilize, and defend their rights.

The research addresses the following problems:

What are the policies of government in relation to wages and how this is shaped by external factors such as the demands of the economy, the interest of business, and the organized capacity of the labor movement?

How do changes in wage policies affect the incomes of working class families?

What are the key issues concerning wage and income viewed from a historical perspective?

The research shall utilize existing research and data gathered on labor and wage inequality. Significant events and wage trends shall be the primary focus of the research. Specific descriptive and historical data on the state of wages from the 1880 to 1940

shall be included in the research. It is also important to note that descriptive data will be used due to the difficulties in attaining wage information beyond the 1940’s as reflected by Robert Margo, author of the Working Paper No. 286, The History of Wage Increases in America. According to his book, providing analysis on wage inequality before 1940 is difficult. Pre-1940 trends of wage inequality were analyzed only according to averages in the different occupational groups.

From the period of the 1821 to 1880s, the growth rate of wages of common labor workers is at 1.04%, artisans received 0.73% while the growth rate of the clerks reached 1.52%. The growth rate of the clerks’ wages (who are considered as the major white collar job in this period), moderately rose prior to the Civil war compared to the common labor workers. The clerks being considered as the highly educated with their work on accounting and managerial functions and their moderate rise in the rate of wage growth contributes to the demand for educated labor before the civil war.

The white collar workers suffered a decline in its wages before 1930. Paul Douglas explains that the educational expansion might have caused this substantial decline. The educational expansion reportedly increased the supply of educated workers in the early 20th century.

According to Margo, the rising portion of the growth rate appeared on the period of 1820 to 1860. After 1860, wage inequality declined during the World War I

but rose again and peaked in the late 1920s. Between 1929 and 1950, inequality continuously decreased and reached two decades of stability from the year 1950 to 1970 after which inequality again increased sharply in the 1980s.

The "Great Compression" of the 1940s resulted in a substantial narrowing of wage inequality within and between groups. Although long-term supply side forces played a role in generating wage compression, much of the decrease in inequality was associated with the effects of World War Two on the relative demand for less-skilled labor, as well as government policies specific to the War. (Margo, 1999).

The wage compression that occurred in the 1940s was sustained for some time after World War Two ended, but by 1960 inequality had begun to creep back towards pre-World War Two levels. The baby boom, however, kept wage inequality from rising further in the 1970s. (Margo, 1999).

Several factors explain the increased dispersion in wages in the bottom half of the distribution during the 1980s and the slight decrease afterward. The characteristics of the workforce changed significantly: education levels increased, women increased their share of work, and the workforce grew older. Those compositional changes alone would have somewhat increased dispersion in the bottom half of the wage distribution both during the period from 1979 to 1990 and the period from 1990 to 2005. (Congressional Budget Office, 2006).

Income inequality in the United States has risen during Bush’s presidency. While real median income for households near the top of the income distribution rose during the Bush years, incomes at the middle and the bottom fell. Median income fell 0.6 percent ($324) from 2000 to 2007. Income at the lowest 20th percentile fell by 6.0 percent ($1,285) and at the 10th percentile by 4.5 percent ($579). (US Congress, Joint Economic Committee, 2008).

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Guilty Until Proven Innocent At Salem Witch Trials History Essay

In the 14th through 16th centuries and estimated 40 thousand people were executed for the crime of witchcraft and according to believers, it cam straight from the Bible in Exodus 22:18 which says Thou shall not suffer a witch to live. The Bible is the word of God and is infallible and believers had to live by it. Despite this strong belief in the Bible, early Christians were quite tolerant of Paganism and even witchcraft but as the Roman Catholic Church began to consolidate its power, heretics were looked at as the enemy.

By 1231, Pope Gregory the 9th instituted the inquisition which was designed to expose and punish heresy. That’s when the attitude towards witchcraft began to change and take on a more acceptable, violent attitude.

In 1484, Pope Innocent the 8th declared being a witch or a magician a crime and approved severe measures of punishment and ultimately death if a person was found to be either. All of the problems, from bad crops to bad weather, were blamed on witches and magicians. Witch hunts were usually conducted by the superstitious villagers as tensions grew amongst them and they use these witch hunts as a power tool to get rid of people they had issues with, real or imagined, with the authorities doing little or nothing to stop it.

Although the authorities were encouraging the locals to separate and rid themselves of witches, which caused them to turn on each other as they pointed out each other as witches, a witch hunt didn’t mean that people showed up at your door, knocked, and politely asked if there were any witches in the house. Once a person was accused of being a witch, they still had to provide some evidence in order to prosecute. The question was then, how do you prove that someone has cast a spell? The authorities needed some sort of tangible evidence such as test and signs that they were witches. In 1486 Heinrich Kramer, an Inquisitor of the Catholic Church, published a guidebook on finding witches called the Mallei Maleficarum (Hammer of the witches). It stated that the sure signs of a witch were the devils mark or witches teats. This involve the physical inspection of a suspected persons body and was conducted only after shaving all of his or hers hair off, including the public area. It told frightening stories of women who would have sex with demons, kill babies, and even steal penises. It basically gave the definition of witchcraft as well as how to investigate, try and judge cases.

The idea of the devils mark was and an folk tail which was based in the idea that a witch had made a pact with the devil and because of that, he marked her body and gave her teats so she could suckle demons and evil spirits so if a person could find these marks, you could prove, with tangible evidence, that the person was a witch. They would then test the mark by piercing it with a needle or a pin and if pain were felt or the mark bled, there was not enough evidence the person was a witch. If, however, after poking the mark with a pin or needle the person did not fell pain or there was no blood, it was the acceptable view that the person might, in fact, be a witch. Another method was called swimming a witch and the theory was that water was pure and it would reject the evil in the witch causing her to float so an innocent person would sink. Needless to say, this test always ended with a victim. The Hammer of the Witch also encouraged torture as a way to get the accused person to confess to being a witch and also always ended in the death of the accused and was justified in the eyes of the law.

English magistrates considered witchcraft a crime against the Church and the State. From Henry the 8th forward, the King is the head of the Church meaning the political leader is also the head of the Church of England so when you turn your back on the God and the church, you are also turning your back on your King. This made witchcraft an act of treason and a capital offense. Witch hunts continued through the 17th century with neighbors accusing neighbors as thousands were murdered.

In 1629, King Charles the 1st of England granted a group called the Puritans a charter to settle and govern in English colony in Massachusetts Bay. Their goal was to create a new and more perfect society based on the principles of the Bible with no separation of church and state. The Puritans remained British citizens and continues to believe that witches existed. This idea of the existence of witches was central to their belief system and they thought about it on a regularly and were genuinely worried about witched living among them. It was no surprise that the Puritans engaged in witch hunts just as they had in England.

The first witch trial in Massachusetts was not in Salem but was actually in Charlestown in 1648 when a midwife and healer named Margaret was accused of witchcraft. It was believed that she could cause death and sickness with just her touch, foretell the future and that she had a witches teat. She was hanged in 1648 and although other cases followed, it would be 40 years before a witch trial would get widespread public attention. In 1688 four Boston children were presumed to be possessed by Goodwife “Goody” Ann Glover. She was an Irish slave sold to Oliver Cromwell in the 1650’s and her husband dies there. She moved to Boston where she becomes employed as a housekeeper. At some point, four of the five children became sick and their doctor found "nothing but a hellish Witchcraft could be the origin of these maladies."(SITE HERE) She was arrested, tried and convicted as a witch and sentenced to hang.

The investigator for this particular case was Cotton Mather, a Boston Minister, who wrote a book titled Memorable Provinces, in which he describes in detail the behavior of the witch and the possessed children. This particular book was believed to have had a huge effect on the people of Salem. About 500 people lived in Salem and they had strong religious practices. Add to their beliefs the circumstances in Salem at the time and you have a village that is ripe for conducting witch hunts of its own. At the core of the Puritanism was a strong belief that women were to be docile as mothers to their children and as servants to their husbands. They had the idea that a woman was submissive and simply by her very nature, a woman was more likely to enlist in the devils service. They were not allowed to be Ministers and therefore were more likely to join the devils cause.

One of the most traumatic events of colonial America was the witch hunt 1692. The documents such as arrest warrants and death orders from that time show about 160 cases of accusations but there are no transcripts of the actual trials. Historians pieced together from other, outside documents, what they believed lead up to the trials. It is believed it started in the kitchen of the Reverend Samuel Parris. In the winter of 1691 Reverend Parris were spending time away visiting people in the parish and so they left their daughter Elizabeth, who was nine, and her cousin Abigail Williams, who was 11, in the care of an Indian woman named Tituba. As she began to speak of her childhood she would share stories with the girls of magic and power. She even began to show them some tricks. The girls, even in their young age, knew this was something that she should not be doing and that they should keep quiet about. Well as the stories kept flowing, her audience grew to six more girls who would come to hear them. The girls then began to do things, such as scream out, attempt suicide, and throw things against walls, which brought concern from Reverend Parris so he had the doctor come examine them. The doctor found no physical symptoms and concluded this must be spiritual and under the evil hand of witchcraft. Because of the Puritans belief in witches, this was readily accepted because they believed that witches could convince other to become witches and interpreted the girls’ actions as physical attempts to fight to prevent themselves from becoming witches. At this point, the girls were pressured to indentify the witch whom had infected them and they eventually pointed out Tituba and because she was a slave, there would be no one that would stand up for her. The girls also pointed out two other women Sarah Good and Sarah Osborne, this too was believable since neither one of these elderly women attended church.

On March 1, 692, the women were brought before an informal tribunal in order to establish if there was evidence of witchcraft. One significant difference between these court proceedings and our system today is the lack of involvement of lawyers. The accused was there were more depositions taken straight from accusers of crimes and a defendant was left trying to defend themselves against questioning from the judges.

The kind of evidence the Magistrate allowed in these proceedings played an important part in the trials that followed. All of a sudden they were willing to accept evidence that they would have never considered in previous witch trials in New England.

The most damaging decision of all was to allow spectral evidence, meaning the accused appeared only to the accuser in either some form or that of a specter that only the accuser could see. The girls began claiming they saw this with Sarah Good and that her specter tried to convince them to write in her book. With each denial from Sarah, the girls would cry and scream, claiming her specter was actually attacking them in the court. Needless to say, this was perceived as evidence that Sarah Good was in fact a witch. It would be the testimony y of Tituba that would change the course of the trial as she confesses almost immediately to doing witchcraft. Over the next three days, she would tell tales of talking animals and spectral visits to harm the children. She was basically telling them what she thought they wanted to hear. She told of a tall man from Boston who who told her to write her name in the devils book in blood. She was asked how many names were in the book. She told them nine names were in the book. Hers, Sarah Good, Sarah Osborne and six names she could not see. This shook everyone because it meant that there were more witches in the village. In this atmosphere the accusations began to spread, but now the girls were not just accusing women from lower standard, but now, no one was exempt from being accused.

It wasn’t until a matronly woman named Rebecca Nurse, who hardly fit the image of a witch, was accused did Salem begin to split on the issue. Most of those who supported her were from the East, had more liberal views and were better off financially. In general, accusers were of lower status and lived in the Western part of Salem. 30 people signed a petition attesting to her character.

The youngest person to be accused was Dorcus Good, the daughter to Sarah Good. It became clear at this point that something needed to be done as so the witch hunts moved from statements and depositions to official trials. The trails continued much as the preliminary hearings had with judges accepting testimony and spectral evidence as fact and the girls continued their finger pointing. They loved the attention they ere getting in a time and place when women had now voice. Here they were, having the ears and attention of men hanging on their every word. The authorities did not check the validity of their accusations and even more people were sent to their deaths.

Eventually the girls began to accuse people who not thought of to be witches such as men, children, ministers and the upper class. Rumors began to circulate that they were going to accuse the wives of Reverend Mather and Governor Phips, and with that, the girls had gone too far. The Governor dissolved the court and moved the trials to Superior Court. Spectral evidence was no longer allowed and the remaining people were acquitted. Tituba was sold back into slavery as a way to pay her expenses.

Five years passed before the Salem community recognized its mistakes and on January 16, 1697, they held a public fast and all twelve jurors signed a petition as a public showing of their repentance. There were other significant dates that followed. In 1702 a modest inquiry into witchcraft was published by John Hale that expressed one of the most profound apologies. In 1706, Ann Putnam Jr, blamed the devil for her actions in taking innocent lives. She was the only accuser to ever apologize. In 1711 the Commonwealth on Massachusetts reversed the verdicts of 22 of the 31 people convicted, restoring their civil rights. The state paid 600 pounds in restitution to the survivors and their families. It wasn’t until 1957 that the remaining nine sentences were reversed.

There are several things about this have repeated itself throughout history and even in today’s society where fear and ignorance overshadows reasoning and common sense. These events had a profound effect on the nation’s justice system causing it to never again presume someone guilty until proven innocent.

Famous American Trials. (2010). Retrieved September 17, 2010 from Salem Witch

Trails: http://www.law.umkc.edu/?faculty/?projects/?ftrials/?salem/?salem.htm.

Salem Witch Museum. (2010). Retrieved September 17, 2010 from Salem Witch

Trails: http://www.salemwitchmuseum.com/?education/?index.shtml.

Goody Glovers. (2010). Retrieved September 17, 2010 from Goody Glovers Story:

http://www.goodyglovers.com/?history.html.

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The Roles Function Organisation Of Imf Wto Wb Economics Essay

This essay aims to analyse and evaluate the impact of three international institutions namely, the International Monetary Fund (IMF), the World Bank and the World Trade Organisation (WTO) in securing global health and wellbeing. Their legitimacy and accountability have attracted a lot of debate and criticism. In the essay, the roles, functions and organisation of these institutions will be discussed followed by critique relating to presentation, influence and impact on global health/wellbeing and finally concluding with a critical evaluation and considerations of possible alternatives and improvements.

Ideas of Harry Dexter White of United States and the British economist John Maynard Keynes led to the establishment of the IMF which began its operations on the 1st of March 1947 in Washington D.C. Its purpose was to rebuild the international economy and prevent the economic crises such as the Great Depression. Membership to the IMF is voluntary and a country has to deposit a “quota subscription” which determines the voting power of that country and also how much that country could borrow from the fund in terms of financial crisis. The highest decision-making body in the fund is the Board of Governors who are not involved in the day to day running of the Fund and they meet once yearly. Currently with a membership of 187 countries the IMF provides systematic mechanisms for foreign exchange transactions in order to promote balanced global economic trade. The IMF advises and focuses on member countries’ macroeconomic policies to ensure its own wealth and that of its members are safeguarded.  It does surveillance of the member countries policies to ensure they do not have a negative effect on the exchange rates and trade markets. The IMF also does periodic consultations to check member countries overall economic positions and advises them on how to improve their economy. It also provides loans to countries that have problems with their balance of payments, (www.imf.org). The loans have conditions attached to them and the borrower countries must implement the economic reforms as determined by the IMF. These structural adjustment programmes (SAPs) are meant to help the countries to overcome the problems of their balance of payments (Driscoll, 1996).

The World Bank was established in 1944 to play a role in the reconstruction of post-war Europe.  It has a similar governance structure as the IMF, with a board of Governors with representatives from all member states as the highest decision-making body and the voting system is the same as that of the IMF. America holds the largest share of votes and the president is also by tradition a US citizen (Peet, 2003).  The World Bank group consists of five organizations but only two are usually referred to as the World Bank. For the purpose of this essay we will restrict our attention to these two. The International Bank for Reconstruction and Development (IBDR) provides long term loans and aid for economic development. It is financed from the sale of bonds on international finance markets and from interest gained from loan repayments. The International Development Association (IDA) focuses on giving credits and grants to poor countries. These interest free grants attract a 0.75 percent administrative charge per annum and are aimed to assist programmes of economic growth, reduce inequalities and improvement of living conditions.  IDA is funded from contributions from richer member countries and from income earned from IBDR financing. Like the IMF, the World Bank has conditions attached its loans (Global Health Watch, 2005-2006). The bank also provides technical assistance on development issues. It provides knowledge through education and analytical services. Since its establishment, the World Bank has become more engaged in issues of institutional and policy change in borrowing countries.  The bank defines what would be the best development approach on different projects at a particular time. Currently the Bank defines its mission as reducing global poverty by helping member countries through ensuring economic growth by “capacity building” and helping to create “infrastructure” (www.worldbank.org)

The WTO was established in 1995 as a successor to the previous General Agreement on Tariffs and Trade (GATT) which was established in 1947 after failed attempts to establish an International Trade Organisation (ITO) that would regulate trade. The idea of the ITO was discussed at the Bretton Woods Conference as necessary to complement the World Bank and the IMF. Due to the nature of the policies of the ITO, the US was not willing to commit itself to trade policies which would compromise its power thus efforts to establish the ITO failed (Peet 2003). The WTO’s function is to promote free and fair trade between member states with a view of promoting economic prosperity and contributing to international peace. This is achieved through the administration of trade agreements and acting as a forum for trade negotiations, helping to settle trade disputes, reviewing national trade policies, providing assistance to developing countries in trade policy issues through technical assistance and training programmes and cooperating with other international organisations such as the IMF and the World Bank, (www.wto.org). Unlike the IMF and the World Bank, the WTO is a more member-driven organisation where all major decisions are made by member states by reaching a consensus and the Secretariat has very limited powers. The WTO operates a one country one vote system. Members of the WTO agree to abide by the rules of the organisation.

Criticisms on IMF and the World Bank originate from their policies which many argue promote neoliberalism. Transparency on the functioning of the institutions has also been questioned. Governance of the two institutions is dominated by the industrialised countries mainly the G8. Due to their voting power, the industrialised countries act without much consultation with poor /developing countries who are underrepresented in the two institutions. As such, poor countries influence in policing change is limited, (www.brettonwoodsprojcet.org ). The Bank and the IMF have also been accused of promoting the top-down approach in development which has made them to be regarded as the experts in the field of financial regulation and economic development. Their prescriptive rules are viewed by many as able to undermine or eliminate alternative perceptions on development therefore are not always beneficiary to the recipients (Baum 2008).  

The IMF and the World Bank’s policies have had negative economic and social impact on many countries that have had financial assistance from them. They impose conditions on their loans based on what is termed the “Washington Consensus” which is criticised by many as a neoliberalist approach of trade liberalisation and development, investment and the financial sector, deregulation and the privatisation of nationalised industries and conditions that are not flexible to individual countries circumstances. The prescriptive recommendations by the World Bank and the IMF fail to address the economic problems within countries thereby promoting massive global economic inequalities (Darrow 2003:76). While it is argued that individual nations are responsible for their own social and economic policies, national policies are overridden by the conditions of the SAPs thereby leaving such countries indirectly losing their governance to the World Bank or the IMF (Peet, 2003). The introduction of the SAPs forced countries to enter the global market where they are struggling to survive due to its competiveness.

The emphasis on privatisation by the Bank led to a lot of job losses and states losing control of the provision of essential goods and services such as health care and education resulting in the collapse of such services. The market-driven approach to health services led to the commodification of the services leaving them unaccessible to many as they could not afford to pay for them (Darrow 2003).  Although the overall global life expectancy over the past century has increased, in developing countries that were affected by the SAPs, especially sub-Saharan Africa, the life expectancy decreased dramatically in some countries to as low as 36. This decline in life expectancy is attributed to the rise in poverty and the rise in infectious diseases such as the HIV/AIDS pandemic (WHO 1996). The rise in HIV/AIDS is also arguably linked to the SAPs in the sense that the  introduction of user fees on infectious diseases, people only accessed health services only when they showed symptoms and even still not all could access the services as they could not afford them (Rowden, 2009:148)

Baum, (2008) supported by Rowden (2009) argue that the influence of the World Bank in health issues as seen in its 1993 and 2004 reports, saw the WHO and UNICEF losing their positions as the International Public Health leaders, to the bank. They argue that the WHO’s primary care policies were overshadowed by the market-driven ideologies that led to the commodification of the health services and the increase in donor aid. The bank’s influence led to the promotion of a top-down approach which regards it as the expert in health issues at the expense of the indigenous knowledge. Such ideologies also promote the influence of imported culture which may not be appropriate for the communities, Farmer, (1999:35). The Bank has also been criticised for the types of projects it funds many of which are said to have social and environmental implications for the affected areas, (Nagel 2004).

The shortage of essential medical and drug supplies and personnel as state expenditure was reduced has led to the monopolising of the world’s trade in drugs, (Greenland, Labonte 2007).  SAPs also adversely affected food security as food subsidies were withdrawn, price supports for goods removed and prices rose, (www.fao.org). National laws such as those that protect health, safety, environment, industries and farming have also been affected by the interference of the global institutions in domestic policies of individual countries. Small industries and farmers are greatly affected as their products are undermined by cheaper imports. The free markets have also increased the monopoly of corporations at the expense of the indigenous knowledge and wealth of the poor causing uneven distribution of wealth therefore creating a wide gap between the rich and the poor countries, Global Health Watch, (2005-2006).

Although the WTO appears to be a more democratic organisation, debates on its transparency formulate from that it as a more closed organisation where many meetings are informal. These informal meetings are crucial before negotiations reach the more formal levels before a consensus can be reached between member countries. Although all member states are formally equal, in the fact that they all have the same opportunities regarding their voting power, the WTO is to a large extent controlled by the G8 while others have very limited influence and ability to keep up to date with all issues, (Global Health Watch, 2005-2006, Baum, 2008:101). The free trade agreements have negative effects on poor countries as they struggle to match the markets from developed countries. As the labour markets were deregulated, a lot of jobs were lost leading to massive increase in unemployment consequently leading to an increase in poverty. According to the WHO, over one fifth of the world’s population is living on less than two dollars a day. Furthermore the health expenditure in countries affected by SAPs declined to $13 per capita compared to the WHO’s recommended $32 per capita, (Rowden, 2009).

The three organisations have taken cognisance of some of the criticisms and debate over their legitimacy and accountability. They have demonstrated an increase in transparency through publication of policies and research which have contributed to effectiveness especially the Bank. It has improved on the way it is working with NGOs and also considered the environmental concerns of its project although some argue that there is still a lot be done in that area, (Peet, 2003). Pressure exerted on the Bank made it to reconsider its position against the universal ARV treatment. The IMF and the World Bank cancelled debts of some the poor countries. The three organisations have a lot of input in the road to achieve the Millennium Development Goals (MDGs). However, there are arguments that the MDGs alone do not address the issues of global political economic systems where rather than countries relying on donor aid; countries should be able to finance their own people’s needs using their national policies (Rowden, 2009).

Critics of the World Bank, IMF and the WTO are calling for a transformation of the global governance from neoliberalism towards governance that promotes policies that empower individual states to be responsible for their economic development. Ranges of ways on how this could be achieved have been suggested such as radical reform through collective action by different groups and organisations, decommissioning of the institutions, participation of representatives from different parts of the globe during global meetings. The representatives should be well-equipped with detailed knowledge and alternatives to policies. The NGOs have been praised and encouraged to continue with their contribution in the fight for fair global governance and some of their efforts have yielded results, (Peet, 2003; Rowden, 2009; Greenland, Labonte, 2007; Baum, 2008).  

Despite the criticisms on the World Bank, IMF and WTO, their role in securing the health and wellbeing of the world’s population is essential but there is need to address the way their policies have deviated from their original purpose to neoliberal market driven ideologies that promote the interests of a handful of countries at the expense of the lives of thousands of people who die everyday due to such policies. Similarly other international institutions responsible for health and development such as the WHO and the United Nations should also ensure that their primary aims are not being compromised by such policies.   

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Economy In Mid 1700s Britain History Essay

 

The Industrial Revolution, which began in the mid-1700s first in Britain and later in Western Europe, is the most significant collection of technological, social, and economic changes in human history.

There is a lot of speculation as to why the Industrial Revolution occurred first in Western Europe, especially in Britain. Historians point to a number of factors. Built upon the economic and cultural developments of the Renaissance, Europe was already relatively wealthier than other regions of the world, thus providing the needed capital for investment in new technologies. Europe was full of competition at the time, each country wanting to be the best.

The Industrial Revolution saw through the change from manual labour to mechanical devices due to a multitude of technological advancements. We can see this mostly where steam power took over man power. Applied first in coal mining and textiles, the new techniques, new machines, and new methods rapidly spread into other industrial areas. One of these advancements was the use of steam to power transportation devices. This increased the railroad system’s efficiency and reliability, bringing the nation together into one whole market, introducing globalization and encouraging changes in steel, iron and communication facilities.

This revolution also had a great impact on other sectors in society such as politics and culture. The meaning of culture was changed drastically because of the new job openings and great increase in production of goods. The meaning of a job was evolving for many people, a lot of which benefitted from improvements in family income. On the other hand, the introduction of factories meant the loss of craftsmanship. The repetitive motions of the machines removes all mastery and satisfaction from labour.

Everyone’s life style and standard of living was now based on the technological advancements in society. Now there was a large variety of goods to satisfy everyone’s tastes and needs. Most people could now afford to own their own equipment and tools which were previously only affordable by the wealthier of classes prior to this revolution. Rapid economic growth and spreading prosperity were among the effects of the Industrial Revolution.

The revolution in transportation meant that people could now travel further than ever before. Here a whole new commerce was introduced in the form of travelling. This helps in changing cultural norms and values too as people where mixing with different societies.

The most important virtues where staying out of debt and saving what you earned. This all changed, as after the Industrial Revolution, the main word was consumption. If people didn’t buy goods off store shelves, then the shop owner wouldn’t have to order stock from the factory and so people would be made redundant from the factory and this would close down. The only way to stop this from happening was to teach people how to become intensive customers by purchasing all that say, even if they did not need it.

To encourage such consumption, the advertising industry was created, developing sophisticated techniques suggesting new needs among ordinary people. Often using manipulation, sex appeal, and other emotional inducements, advertisers have been able to get people to purchase objects and services they never felt any need of. And they could be persuaded to throw away still functioning items, in order to buy the "latest, improved" models.

Rider, Christine (1995), ‘An Introduction to Economic History’ South Western

Before this revolution, Britain was a quite different place to the one that exists today. Industrialisation brought with it new types of roads, trains and many other forms of communications which simply did not exist prior to industrialisation. So before the Industrial Revolution it was very hard to keep in touch with people in other parts of the country. News was spread by travellers or through messengers, and goods were distributed largely within the locality in which they were produced.

Because it was so hard to move around, people had to rely upon themselves and their communities to provide the vast majority of the things that they needed. Food was produced locally. Clothing was made locally, making use of animal hides and furs.

Life was, for the bulk of the population, the life of a farmer. By the 18th century the feudal system was long gone, but in its place was a system in which the people were as reliant upon each other and their master as before.

Some people were fortunate enough to benefit from imported goods which came into ports such as London and Bristol in increasing quantities from the Elizabethan age onwards. What was manufactured was done making use of natural elements.

Education was poor, only the rich being catered for by nannies and private tutors. There were of course schools and several universities. These were not for the ordinary man or woman though. Also, politics was based upon land ownership.

As McCloskey said in 1981,

"In the eighty years or so after 1780 the population of Britain nearly tripled, the towns of Liverpool and Manchester became gigantic cities, the average income of the population more than doubled, the share of farming fell from just under a half to just under a fifth of the nation's output, and the making of textiles and iron moved into steam-driven factories.”

http://www.ehs.org.uk/industrialrevolution/PH_index.htm

The industrial revolution certainly saw changes in the economy and society of Britain. There was a huge increase in the numbers of people employed in industrial sectors, manufacturing goods of all kinds, especially textiles, iron goods, and metal wares, for both overseas and domestic markets. More of the working population also came to live and work in towns and cities. A drastic smaller proportion of the working population, which is less than a third, lived in the countryside and got their living from the land.

In the early 18th Century, more than two thirds of the labour force had been in agriculture but now, towns and cities grew at an exceptional rate, due to the high rates of population growth that accompanied industrialisation.

During and after the industrial revolution, population growth and economic growth were able to occur together over the long term, unlike what has happened before, where when there was an increase in population, there was always a decrease in economic growth. However, during and after the industrial revolution, both population and economy were able to grow together.

Poverty walked with disease and death in industrial Britain during the first half of the nineteenth century. Hard working conditions, long hours of working, poor diet, overcrowded poor housing and inadequate sanitary arrangements made poor health and early death inevitable mostly for the lower classes.

One specific city which has been through vast amounts of study was Manchester. A number of important people such the literary man Robert Southey, medical luminaries like Dr James Phillips Kay and social scientists like Friedrich Engels studied these problems.

Housing conditions and the health of the public during the middle years of the Industrial Revolution cannot be separated. However, it was only when a deadly cholera epidemic spread in Manchester's poor areas that Kay and his associates were able to do something to change the housing and sanitary conditions in the inner city. They did not know how cholera spread and were only examining ways of combating this disease. They firmly believed that, only by relieving the conditions that prevailed in the worst city slums would make it possible to cure the instability that was threatening the rest of the city. However, the opportunity to take decisive action was lost. Engels, exploring these same areas of Manchester by night 12 years later, found only little change in these circumstances.

The rapid industrial growth that began in Great Britain during the middle of the eighteenth century which later on expanded to other countries provided a wide range of material for many nineteenth-century writers. The literature of the Industrial Revolution includes essays, fiction, and poetry that respond to the changes which occured in technology as well as the labour and demographic changes. Having observed the adoption of such new technologies as the steam engine and other types of new technology, the Scottish intellectual Thomas Carlyle described this period as the "Mechanical Age". The Industrial Revolution literature gives us a range of literary genres. Social critics such as John Ruskin, Henry Adams, and Carlyle examined the cultural changes that accompanied the machine. On the other hand, novelists ranging from Charles Dickens to Rebecca Harding Davis and Herman Melville provided a realistic treatment of modern working conditions. Moreover, poets such as William Wordsworth and Walt Whitman saw to the artist's role in such a world.

By the close of the eighteenth century, the early romantics began to view the emerging technology in a different light. A case in point is that in Friedrich Schiller’s ‘Letters upon the Aesthetical Education of Man’ (1795), argued that the machine was a threat to individual freedom and a destructive force on contemporary culture.

The issues surrounding the relationship between technology and culture have continued to interest critics and writers well into the twentieth century. Contemporary writers also look to literary figures of the Industrial Revolution as they address similar concerns of the role of the machine in today’s society.

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