External Analysis of the Telecommunication Industry Essay Example for Free

External Analysis of the Telecommunication Industry EssayEconomic Market summary by Insight Research predicts that telecoms-industry revenue will reach $1.2 trillion by the end of undermentioned year, and grow by a compounded crop of 5.9 percent to $1.6 trillion by 2010. Telecommunication remains an important part of the world economy and the telecommunication industrys revenue has been shoesd at just beneath 3% of the gross world product. Mobile reverberates hand over had a signifi kindlet impact on tele foretell networks. Mobile phone subscriptions now outnumber fixed- transmission channel subscriptions in many markets. Sales of mobile phones in 2005 totaled 816. 6 million with that figure being almost equally sh atomic number 18d amongst the markets of Asia/Pacific (204 m), Western atomic number 63 (164 m), CEMEA (Central Europe, the Middle East and Africa) (153.5 m), North America (148 m) and Latin America (102 m) In terms of new subscriptions over the five years fro m 1999, Africa has outpaced other markets with 58.2% growth size of it matters in telecom. It is an expensive business contenders need to be large enough and produce sufficient cash flow to absorb the cost of expanding networks and servicings that perplex obsolete seemingly overnight. Transmission trunks need to be replaced as frequently as every two years. Big companies that deliver extensive networks especially local anesthetic networks that stretch directly into customers homes and businesses be slight reliant on link uping with other companies to get calls and data to their final destinations. By contrast, smaller pretenders must pay for interconnect more often to finish the job. For little operators hoping to grow big some day, the financial challenges of sustainmenting up with rapid technological change and depreciation can be monumental. During the late 1990s, the tele communication theory industry experienced very rapid growth and massive investment in transmis sion capacity. Eventually this caused supply to significantly outstrip demand, resulting in frequently lower prices for transmission capacity. The excess capacity and additional arguing led to either declining revenues or slowing revenue growth, which has led to integrating within the industry, as many companies merged or left the industry.Socio-Cultural Telecommunication is an important part of many modern societies. Good telecommunication infrastructure is astray acknowledged as important for economic success in the modern world on micro- and macroeconomic scale. On the microeconomic scale, companies entertain used telecommunication to help build global empires, this is self-evident in the business of online retailer Amazon.com but even the customary retailer Wal-Mart has benefited from superior telecommunication infrastructure compared to its competitors. In modern Western society, home owners often use their telephone to organize many home services ranging from pizza del iveries to electricians. Even relatively poor communities have been noned to use telecommunication to their advantage. In Bangladeshs Narshingdi district, isolated villagers use cell phones to speak directly to wholesalers and arrange a better price for their safes. In Cote dIvoire coffee bean growers share mobile phones to follow hourly variations in coffee prices and sell at the best price. On the macroeconomic scale, in 2001, Lars-Hendrik Rller and Leonard Waverman suggested a causal link between good telecommunication infrastructure and economic growth. Few dispute the existence of a correlation although some argue it is wrong to keep an eye on the relationship as causal. However from any perspective the economic benefits of good telecommunication infrastructure are undeniable and, for this reason, there is increasing worry rough the digital divide.A 2003 survey by the International Telecommunication Union (ITU) revealed that roughly one-third of countries have less than 1 mobile subscription for every 20 people and one-third of countries have less than 1 fixed line subscription for every 20 people. In terms of Internet main course, roughly half of countries have less than 1 in 20 people with Internet advance. The September 11 attack reinforces the need for robust, interconnected networks that have a high opportunity of survival in the event of natural or man-made disaster. That argues for a consolidated base of carriers operating with agreed-upon disaster protocols Technological The largest sector of the telecommunications industry continues to be made up of outfit telecommunications carriers. Establishments in this sector principally provide telephone service via wires and cables that connect customers premises to primordial offices maintained by telecommunications companies. The central offices contain switching equipment that routes content to its final destination or to another switching center that determines the most efficient route for the content to take. While function used to be the main type of data transmitted over the wires, wired telecommunications service now includes the transmission of all types of graphic, video, and electronic data mainly over the Internet. These new services have been made possible through the use of digital technologies that provide much more efficient use of the telecommunications networks. champion major technology breaks digital signals into packets during transmission. Networks of computerized switching equipment, called packet switched networks, route the packets. Packets may take separate paths to their destination and may share the paths with packets from other users. At the destination, the packets are reassembled, and the transmission is complete. Because packet switching considers alternate routes, and gets multiple transmissions to share the same route, it results in a more efficient use of telecommunications capacity as packets are routed along less congested routes. One way wired carriers are expanding their bandwidth is by replacing copper wires with fiber optic cable. Fiber optic cable, which transmits wild signals along glass strands, permits faster, higher capacity transmissions than traditional copper wire lines. In some areas, carriers are extending fiber optic cable to residential customers, change them to offer cable television set, video-on-demand, high-speed Internet, and conventional telephone communications over a single line.However, the high cost of extending fiber to homes has slowed deployment. In most areas, wired carriers are instead leveraging existing copper lines that connect most residential customers with a central office, to provide digital subscriber lines (DSL) Internet service. Technologies in development will further boost the speeds available through a DSL connection. Wireless telecommunications carriers, many of which are subsidiaries of the wired carriers, transmit voice, graphics, data, and Internet access th rough the transmission of signals over networks of radio towers. The signal is transmitted through an antenna into the wire line network. Other radio services include beeper and paging services. Because wireless devices require no wire line connection, they are popular with customers who need to communicate as they travel residents of areas with inadequate wire line service, and those who simply desire the convenience of portable communications. Increasing numbers of consumers are choosing to replace their home landlines with wireless phones. Wireless telecommunications carriers are deploying several new technologies to allow faster data transmission and better Internet access that should make them competitive with wire line carriers. One technology is called third generation (3G) wireless access. With this technology, wireless carriers plan to sell music, videos, and other exclusive content that can be downloaded and played on phones designed for 3G technologies. Wireless carriers are developing the next generation of technologies that will surpass 3G with even faster data transmission. Another technology is called fixed wireless service, which involves connecting the telephone and/or Internet wiring system in a home or business to an antenna, instead of a telephone line. The replacement of landlines with cellular service should become increasingly common because advances in wireless systems will provide data transmission speeds comparable to broadband landline systems. Changes in technology and regulation now allow cable television providers to compete directly with telephone companies. An important change has been the rapid increase in two-way communications capacity. Conventional pay television services provided communications only from the distributor to the customer. These services could not provide effective communications from the customer back to other points in the system, due to signal interference and the contain capacity of conventional cable s ystems. As cable operators implement new technologies to reduce signal interference and increase the capacity of their distribution systems by place fiber optic cables and improved data compression, some pay television systems now offer two-way telecommunications services, such(prenominal) as video-on-demand and high-speed Internet access. production line companies are also increasing their share of the telephone communications market both through their network of conventional phone lines in some areas and their maturation ability to use high-speed Internet access to provide VoIP (voice over Internet protocol). VoIP is sometimes called Internet telephony, because it uses the Internet to transmit phone calls. While conventional phone networks use packet switching to break up a call onto multiple shared lines between central offices, VoIP extends this process to the phone.A VoIP phone will break the conversation into digital packets and transmit those packets over a high-speed Inte rnet connection. Cable companies are using the technology to offer phone services without building a conventional phone network. Wireline providers high-speed Internet connections also can be used for VoIP and cellular phones are being authentic that use VoIP to make calls using local wireless Internet connections. All of the major sectors of the telecommunications industry are or will increasingly use VoIP.demographic The telecommunications industry offers steady, year-round employment. Overtime sometimes is required, especially during emergencies such as floods or hurricanes when employees may need to report to work with little notice. Installation, maintenance, and repair occupations paper for 1 in 4 telecommunications jobs. Telecommunications line installers and repairers, one of the largest occupations, work in a variety of places, both indoors and outdoors, and in all kinds of weather. Their work involves lifting, climbing, reaching, stooping, crouching, and crawling. They must work in high places such as rooftops and telephone poles, or below ground when working with buried lines. Their jobs bring them into proximity with electrical wires and circuits, so they must take precautions to avoid shocks. These workers must wear safety equipment when entering manholes, and test for the presence of gas before going underground.Telecommunications equipment installers and repairers, except line installers, for the most part work indoorsmost often in a telecommunication companys central office or a customers place of business. They may have to stand for long periods climb ladders and do some reaching, stooping, and light lifting. Adherence to safety precautions is essential to guard against work injuries such as minor burns and electrical shock. Most communications equipment operators, such as telephone operators, work at video display terminals in pleasant, well-lighted, air-condition surroundings. If the worksite is not well designed, however, operators may experience eye strain and back discomfort. The rapid pace of the job and close supervision may cause stress. roughly workplaces have introduced innovative practices among their operators to reduce job-related stress. The number of disabling injuries in telephone communications, the principal sector of the telecommunications industry, has been well below the average for all industries in ultimo years. The telecommunications industry offers employment in jobs requiring a variety of skills and training. Many jobs require at least a high school diploma or an follower degree in addition to on-the-job training. Other jobs require particular skills that may take several years of experience to learn completely. For some managerial and professional jobs, employers require a college education. Due to the rapid introduction of new technologies and services, the telecommunications industry is among the most rapidly changing in the economy.This means workers must keep their job skills up t o date. From managers to communications equipment operators, increased knowledge of both computer hardware and software is of paramount importance. Several major companies and the telecommunications unions have created a tissue site that provides free training for employees, enabling them to keep their knowledge current and helping them to advance. Telecommunications industry employers now look for workers with knowledge of and skills in computer programming and software design voice telephone technology, known as telephony laser and fiber optic technology wireless technology and data compression. governmental/Legal Telecommunications Act Enacted by the U.S. Congress on February 1, 1996, and signed into law by President Bill Clinton in 1996, the laws main purpose was to stimulate competition in the United States telecom sector. FCC controls the wireless spectrum allocations among the various broadcasters and service providers. This allocation is through a competitive auction at h igh cost to service providers, which result in an increase of debt burden of these companies, eventually trickling down to consumers. FCC as a watchdog regulates that there be no monopoly of a single playerin the telecom market. Mergers and consolidation among companies is closely watched and evaluated before being allowedPorters 5 Forces Analysis1. Threat of New Entrants No surprise, in the capital-intensive telecom industry the biggest barrier-to-entry is access to finance. To cover high fixed costs, serious contenders typically require a lot of cash. When capital markets are generous, the threat of competitive entrants escalates. When financing opportunities are less readily available, the pace of entry slows. Meanwhile, ownership of a telecom license can represent a huge barrier to entry. In the US, for instance, fledgling telecom operators must still apply to the Federal Communications Commission to receive regulatory approval and licensing. There is also a finite amount of g ood radio spectrum that lends itself to mobile voice and data applications. In addition, it is important to remember that solid operating skills and management experience is fairly scarce, making entry even more difficult.2. Power of Suppliers At first glance, it might look like telecom equipment suppliers have considerable bargaining power over telecom operators. Indeed, without advanced broadband switching equipment, fiber-optic cables, mobile handsets and billing software, telecom operators would not be able to do the job of transmitting voice and data from place to place. But there are actually a large number of large equipment makers around. Nortel, Lucent, Cisco, Nokia, Alcatel, Ericsson, Tellabs are just a few of the supplier names. There are enough vendors, arguably, to dilute bargaining power. The limited pool of talented managers and engineers, especially those well versed in the latest technologies, places companies in a weak emplacement in terms of hiring and salaries .3. Power of Buyers With increased choice of telecom products and services, the bargaining power of buyers is rising. Lets face it telephone and data services do not much vary regardless of which companies are selling them. For the most part, basic services are treated as a commodity. This translates into customers seeking low prices from companies that offer reliable service. At the same time, buyer power can vary somewhat among market segments. Customers can be as small as individual residential users like you or me, or be as big as an ISP like America Online or a large university. While switching costs are relatively low for residential telecom customers, they can get higher for larger business customers, especially those that rely more on customized products and services.4. handiness of Substitutes Products and services from non-traditional telecom industries pose serious substitution threats. Cable TV and satellite operators now compete for buyers. The cable guys, with their own direct lines into homes, offer broadband Internet services, and satellite links can substitute for high-speed business networking needs. Railways and energy utility companies are laying miles of high-capacity telecom network alongside their own track and pipeline assets. Just as worrying for telecom operators is the Internet it is becoming a viable vehicle for dismiss-rate voice calls. Delivered by ISPs not telecom operators Internet telephony could take a big bite out of telecom companies core voice revenues.5. Competitive Rivalry Competition is cut throat. The wave of industry de-regulation together with the receptive capital markets of the late 1990s paved the way for a rush of new entrants. New technology is motivate a raft of substitute services. Nearly everybody already pays for phone services, so all competitors now must lure customers with lower prices and more exciting services. This tends to purport industry profitability down. In addition to low profits, the te lecom industry suffers from high exit barriers, mainly due to its specialized equipment. Networks and billing systems cannot really be used for much else, and their swift obsolescence makes liquidation pretty difficult.

Jones Law of 1916 Essay Example for Free

Jones Law of 1916 EssayWhereas it was never the intention of the bulk of get together States in the incipiency of the war withSpainto make it a war of conquest or for territorial aggrandizement and Whereas it is, as it has always been, the purpose of the people of the fall in States to withdraw their sovereignty over Filipino Islands and to recognize their independence as soon as a stable government can be formal therein and Whereas for the speedy accomplishment of such(prenominal) purpose it is desirable to place in the hands of the people of the Filipinos as large a control of their interior(prenominal) affairs as can be given them without, in the meantime, impairing the figure of the sort outs of sovereignty by the people of the join States, in order that, by the implement and forge of popular franchise and governmental powers, they may be the better prepargond to fully assume the responsibilities and taste all the privileges of complete independence thence theatrical role 1.The PhilippinesBe it enacted by the Senate and kinsfolk of Representatives the unify States of America in Congress assembled, That the provisions of this mold and the name The Philippines as used in this Act shall apply to and include the Philippine Islands ceded to the United States authorities by the treaty of peace concluded between the United States and Spain on the eleventh d whatsoever of April, eighteen cytosine and ninety-nine, the boundaries of which are set forth in Article III of give tongue to treaty, together with those islands embraced in the treaty between Spain and the United States concluded at majuscule o the seventh day of November, nineteen degree centigrade.Section 2.Philippine Citizenship and NaturalizationThat all inhabitants of the Philippine Islands who were Spanish subjects on the eleventh day of April, eighteen 100 and ninety-nine, and then resided in said Islands, and their children born subsequent thereto, shall be deemed and held to be citizens of the Philippine Islands, drop such as shall make elected to preserve their loyalty to the Crget of Spain in accordance with the provisions of the treaty of peace between the United States and Spain, signed at Paris December tenth, eighteen hundred and ninety-eight, and except such others as bring since become citizens of some other countryProvided, That the Philippine Legislature, herein provided for, is hereby authorized to provide by faithfulnessfulness for the acquisition of Philippine citizenship by those natives of the Philippine Islands who do non come within the foregoing provisions, the natives of the insular possessions of the United States, and such other persons residing in the Philippine Islands who are citizens of the United States, or who could become citizens of the United States under the laws of the United States if residing therein.Section 3.Bill of Right(a) Due process and eminent domain.That no law shall be enacted in said Islands which shall deprive some(prenominal) person of life, liberty, or billet without due process of law, or deny to each person therein the pair protection of the laws. Private property shall non be taken for macrocosm use without just compensation. (b) Rights of persons accused of crime.That in all criminal prosecutions the accused shall enjoy the right to be heard by himself and counsel, to demand the nature and cause of the accusation against him, to have a speedy and public trial, to meet the witnesses face to face, and to have compulsory process to compel the at track downance of witnesses in his behalf. That no person shall be held to answer for a criminal offense without due process of law and no person for the same offense shall be twice put in jeopardy of punishment, nor shall be compelled in any criminal case to be a witness against himself. That all persons shall before conviction be bailable by sufficient sureties, except for capital offenses. (c) Obligation of contracts.That no l aw impairing the liability of contracts shall be enacted. (d) Imprisonment for debt.That no person shall be imprisoned for debt.(e) Suspension of habeas corpus.That the privilege of the writ of habeas corpus shall not be suspended, unless when in cases of rebellion, tumult, or impingement the public safety may require it, in either of which event the same may be suspended by the President, or by the Governor-General, wheresoever during such period the necessity for such suspension shall exist. (f) Ex post facto laws, primogeniture, titles of nobility.That no ex post facto law or bill of attainder shall be enacted nor shall the law of primogeniture ever be in force in the Philippines. That no law granting a title of nobility shall be enacted, and no person property any office of profit or trust in said Islands shall, without the consent of the Congress of the United States, accept any present, emolument, office, or title of any kind whatever from any king, queen, prince, or foreig n state (g) Bail and punishment.That excessive bail shall not required, nor excessive fines imposed, nor cruel and unusual punishment inflicted. (h) senseless searches.That the right to be secured against unreasonable searches and seizures shall not be violated.(i) Slavery.That slavery shall not exist in saidIslands nor shall involuntary servitude exist therein except as a punishment for crime whereof the party shall have been duly convicted. (j) Freedom of speech.That no law shall be passed abridging the emptydom of speech or of the press, or the right of the people peaceably to assemble and petition the presidency for redress grievances. (k) Freedom of religion.That no law shall be made respecting an establishment of religion or prohibiting the free exercise thereof, and that the free exercise and enjoyment of religious profession and worship, without discrimination or preference, shall forever be allowed and no religious test shall be required for the exercise of civil or poli tical rights. No public money or property shall ever be appropriated, applied, or used, directly or indirectly, for the use, benefit, or affirm of any sect, church, denomination, sectarian institution, or system of religion, or for the use, benefit, or support of any priest, preacher, minister, or other religious teacher or dignitary as such.(l) Poligamy.Contracting of polygamous or plural marriages hereafter is prohibited. That no law shall be construed to admit polygamous or plural marriages. (m) How public funds to be spent.That no money shall be paid out of the treasury except in pursuance of an appropriation by law. (n) Uniform tax.That the rule of taxation in saidIslands shall be uniform. (o) Subject and title of bills.That no bill which may be enacted into law shall embrace much than one subject, and that subject shall be expressed in the title of the bill.(p) Warrants of arrest.That no warrant shall issue but upon probable cause, supported by oath or affirmation, and part icularly describing the place to be searched and the person or things to be seized (q) Special funds.That all money collected on any tax levied or assessed for a special purpose shall be treated as a special fund in the treasury and paid out for such purpose only. Section 8.General Legislative PowerThat general legislative power, except as otherwise herein provided, is hereby granted to the Philippine legislature, authorized by this Act. Section 13.Election and Qualification of Senators That the members of the Senate of the Philippines, except as herein provided, shall be elected for terms of six and three days, as hereinafter provided, by the qualified electors of the Philippines. Each of the senatorial districts defined as hereinafter provided shall have the right to elect both senators. No person shall be an elective member of the Senate of the Philippines who is not a qualified elector and over thirty geezerhood of age, and who is not able to read and write either the Spanish or English language, and who has not been a resident of the Philippines for at least two sequentially yrs and an actual resident of the senatorial district from which chosen for a period of at least one year immediately prior to his election.Section 14.-Election and Qualification of RepresentativeThat the members of the House of Representatives shall, except as herein provided, be elected triennially by the qualified electors of the Philippines. Each of the representative districts hereinafter provided for shall have the right to elect one representative. No person shall be an elective member of the House of Representatives who is not a qualified elector and over twenty-five years of age, and who is not able to read and write either the Spanish or English language, and who has not been an actual resident of the district from which elected for at least one year immediately prior to his election Provided,That the members of the present Assembly elected on the first Tuesday in June, nineteen hundred and sixteen, shall be the members of the House of Representatives from their respective districts for the term esxpiring in nineteen hundred and nineteen.Section 15.-Qualification of VotersThat at the first election held pursuant to this Act, the qualified electors shall be those having the qualifications of voters under the present law thereafter and until otherwise provided by the Philippine Legislature herein provided for the qualifications of voters for senators and representatives in the Philippines and all officers elected by the people shall be as follows Every anthropoid person who is not a citizen or subject of a foreign power twenty-one years of age or over (except insane and feeble-minded persons and those convicted in a court of competent jurisdiction of an infamous offense since the thirteenth day of August, eighteen hundred and ninety-eight) who shall have been a resident of the Philippines for one year and of the municipality in which he shall offer to vote for six months next preceding the day of voting, and who is comprised within one of the following classes (a) Those who under existing law are legal voters and have exercised the right of suffrage. (b) Those who own real property to the value of 500 pesos, or who annually pay 30 pesos or more(prenominal) of the found taxes. (c) Those who are able to read and write either Spanish, English, or a native language.Sedition Law of 1901No. 202.AN ACT defining the crimes of treason, insurrection, sedition, conspiracies to commit such crimes, contumacious utterances whether written or spoken, the formation of secret political societies, the administering or taking of oaths to commit crimes or to prevent the discovering of the same, and the violation of oaths of allegiance, and prescribing punishment therefor By post of the President of the United States, be it enacted by the United States Philippine Commission, that Section l. Every person, resident in the Philippine Islands, ow ing allejance to the United States or the Government of the Philippine* Islands, who levies war against them, or adheres to their enemies, jriving them aid and comfort within the Philippine Islands or else- where, is guilty of treason, and, upon conviction, shall suffer death or, at the discretion of the court-, shall l)e imprisoned at hard labor for not less than five years and fined not less than ten thousand dollars.Sec. 2. Every person, owing allegiance to the United States or the (Tovemment of the Philippine Islands, and having knowledge of any treason against them or either of them, who conceals, and does not, as soon as may be, disclost? and make known the same to the Provin- cial (Governor in the res publica in which he resides, or to the Civil Governor of the Islands, or to some Judge of a Court of Hecord, is guilty of mLsprision of treason, and shall be imprisoned not more than seven years and be fined not more than one thousand dollars. Sec. 3. Everj pei*son who incites, sets on foot, assists or engages in any rebellion or insurrection against the authority of the Ignited States or of the Government of the Philippine Islands, or the laws thereof, or who gives aid or comfort to any one so engaging in such rebellion or insurrection, shall, upon (*onviction, lie imprisoned for not more than ten years and Ik* fined not more than ten thousiiud dollars.Sec. 4. If two or more persons conspire to overthrow, i)ut down or destroy by force, the Government of the ITnited States in the Philippine Islands or the Government of the Philippine Islands, or by force to prevent, block up or delay, the execution of any law of the UnilcKl States or of the Philippine Islands, or by force to seize, take, or possess, any property of the United States or of the Government of the Philippine Islands, contrary to the authority thereof, (*a*li of such persons shall be punished by a fine of not more than fc thousind dollars, and by immurement, with or without hanl labor, for a ieri(Kl not more than six years.Sec. 5. All persons who rise publicly and tumultuously in onler to attain by force or outside of legal methwls any of the following object*, are guilty of sedition 1. To prevent the promulgation or xecution of any law or thr free holding of any popular election. 2. To prevent the Insular Government, or any Provincial or Mnnicipiu Qovemment or any public official, from freely exercisingits or his duties or the due execution of any judicial or administrative order. 3. To inflict any act of hate or revenge upon the person or property of any official or aent of the Insular Government or of a Provincial or Municipal Government. 4. To inflict, with a political or neighborly object, any act of hate or revenire, upon individuals or upon any class of individuals in the Islands. 5. To despoil, with a political or social object, any class of persons, infixed or artificial, a Municipality, a Province, or the Insular Government or the Government of the United States, or any part of its property. Sec. 6. any(prenominal)peraon guilty of sedition as defined in segment 5 hereof, shall be punished by a line of not colossal five thousand dollars and by imprisonment not exceeding ten years, or twain.Sec. 7. All persons conspiring to commit the crime of sedition shall be punished by a fine of not exceeding one thousand dollars, or by imprisonment not exceeding fiVQ years, or both. Sec. 8. Every ierson who shall utter seditious words or speeches, write, publish, or circulate, scurrilous libels against the Government of the United States or the Insular Government of the Philippine Islands or which tend to disturb or obstruct any lawful officer in exe- cuting his office, or which tend to instigate others to cabal or meet togetlier for unlawful purposes, or which suggest or incite rebellious conspiracies or riots or wiiich tend to stir up the ieople against the lawful authorities or to disturb the i)eace of the community, the safety and order of the Government, or who shall knowingly conceal such evil pra(*tic(s, shall be punished by a fine not exceeding two thousand dollars or by imprisonment not exceeding two years, or both in the discretion of tlio Court.Sec. 9. All persons who shall meet together for the purpose of forming, or who shall form any secret society or who shall after the l)assago of this Act cont inue memlHjrship in a society already formed having for its object in whole or in part, the promotion of treason, r(l)(41ion or scdition, or the promulgation of any political opinion or policy, shall 1k punished by a fine not exceeding one thousand dollars or by imprisonment not exceeding one year, or both.Sec. 10. lentil it has been officially proclaimed that a state of war or insurr(ction against the authority or sovereignty of the United States no longer exists in the Philippine Islands, it shall be unlawful for any person to advocate orally or by writing or printing or like m(tli(Kls, th( independence of the Ph ilippine Islands or their separa- tion from the Inited States whether by peaceable or forcible means, or to print, publish or circulate any handbill, newspaper, or other publication, advocating such indeiendence or separation. Any person violating th provisions of this section shall be punished by a lint* of not exceeding two tlumsand dollars and imprisonment not exceeding one year.Flag Law of 1907ACT NO. 1696 An act to prohibit the display of flags, banners, emblems, or devices used in the Philippine islands for the purpose of rebellion or insurrection against the authorities of the United States and the display of Katipunan flags, banners, emblems, or devices and for other purposes By authority of the United States be it enacted by the Philippine Commission that Section 1. Any person who shall expose or cause or permit to be exposed to public view on his own expound, or who shall expose or cause to be exposed to public view either on his own premises or elsewhere, any flag, banne r, emblem, or device used during the late insurrection in the Philippine Islands to designate or identify those in armed rebellion against the United States, or any flag, banner, emblem, or device used or adopted at any time by the public enemies of the United States in the Philippine Islands for the purposes of public disarray or of rebellion or insurrection against the authority of the United States in the Philippine Islands, or any flag, banner, emblem, or device of the Katipunan Society or which is ordinarily known as such, shall be punished by a fine of not less than five hundred pesos nor more than five thousand pesos, or by imprisonment for not less than three months nor more than five years, or by both such fine and imprisonment, in the discretion of the court.Sec. 2. Any person or persons having charge of any banquet, public entertainment, public meeting, or reunion, or any parade, procession, or review, who shall display or cause or permit to be displayed at such banquet , public entertainment, public meeting, or reunion, or in such parade, procession, or review, or who shall expose or cause to be exposed to public view any flag, banner, emblem, or device used during the late insurrection m the Philippine Islands to designate or identify those in armed rebellion against the United States, or any flag, banner, emblem, or device used or adopted at any, time by the public enemies of the United States in the Philippine Islands for the purposes of public disorder or of rebellion or insurrection against the authority of the United States in the Philippine Islands, or any flag, banner, emblem, or device of the Katipunan Society or which is commonly known as such, shall be punished by a fine of not less than five hundred pesos nor more than five thousand pesos, or by imprisonment for not less than three months nor more than five years, or by both such fine and imprisonment, in the discretion of the court.Sec. 3. It shall be unlawful tor any person to expose or cause or permit to be exposed to public view on his own premises, or to expose or cause to be exposed to public view either on his own premises or elsewhere, or to display or cause to be displayed at any banquet, public entertainment, meeting, or reunion, or in any parade, procession, or review, or for any person having charge of such banquet, public entertainment, meeting, or reunion, or of such parade, procession, or review, to permit to be displayed or exposed to public view, any flag, or banner the use or display of which is prohibited by executive order of the Governor-General. Any person who shall violate the provisions of this section shall be punished by a fine of not less than five hundred pesos nor more than five thousand pesos, or by imprisonment for not less than three months nor more than five years, or by both such fine and imprisonment, in the discretion of the court Provided, however, That nothing in this section contained shall be construed to authorize the Gove rnor-General to permit the use or display of any flag, banner, emblem, or device whose use, display, or exposition to public view is prohibited by the preceding sections of this Act.Sec. 4. Any person who shall wear, use, or expose to public view in any parade, procession, or review, any uniform or dress or part thereof, adopted or used during the late insurrection in the Philippine Islands to designate or identify those in armed rebellion against the United States, or any uniform or dress or part thereof adopted or used at any time by the public enemies of the United States in the Philippine Islands for the purposes of public disorder or of rebellion or insurrection against the authority of the United States in the Philippine Islands, shall be punished by a fine of not less than five hundred pesos nor more than five thousand pesos, or by imprisonment for not less than three months nor more than five years, or by both such fine and imprisonment, in the discretion of the court.Batas Tydings-McduffieBatas Tydings-McDuffie (opisyal na pangalan Batas sa Kalayaan ng Pilipinas Pampublikong Batas Blg. 73-127) na inaprubahan noong Marso 24, 1934 ay isang pederal na batas ng Estados Unidos na nagkaloob ng nagsasariling pamahalaan ng Pilipinas at ng kalayaan nito (mula sa Estados Unidos) matapos ang sampung taon. Noong 1934, pinamunuan ng Pilipinong pulitikong si Manuel L. Quezon ang misyong pang-kalayaan ng Pilipinas sa Washington, DC na nagtagumpay sa pagpapatibay ng Kongreso sa batas na ito. Batas Tydings-McDuffie (opisyal na pangalan Batas sa Kalayaan ng Pilipinas Pampublikong Batas Blg. 73-127) na inaprubahan noong Marso 24, 1934 ay isang pederal na batas ng Estados Unidos na nagkaloob ng nagsasariling pamahalaan ng Pilipinas at ng kalayaan nito (mula sa Estados Unidos) matapos ang sampung taon.Noong 1934, pinamunuan ng Pilipinong pulitikong si Manuel L. Quezon ang misyong pang-kalayaan ng Pilipinas sa Washington, DC na nagtagumpay sa pagpapatibay ng Kongreso sa ba tas na ito. Batas Tydings-McDuffie (opisyal na pangalan Batas sa Kalayaan ng Pilipinas Pampublikong Batas Blg. 73-127) na inaprubahan noong Marso 24, 1934 ay isang pederal na batas ng Estados Unidos na nagkaloob ng nagsasariling pamahalaan ng Pilipinas at ng kalayaan nito (mula sa Estados Unidos) matapos ang sampung taon. Noong 1934, pinamunuan ng Pilipinong pulitikong si Manuel L. Quezon ang misyong pang-kalayaan ng Pilipinas sa Washington, DC na nagtagumpay sa pagpapatibay ng Kongreso sa batas na ito.Bell handicraft ActIn 1946, the US congress offered 800 million dollars as rehabilitation money in exchange for the check of the Bell Trade Act. It was passed by the US congress specifying the condition of the Philippine economy governing the independence of the Philippines from the Americans. A system of preferential tariffs was implemented which reject government officials to control the countrys import-export market. The Philippine peso followed the US dollar currency. Aggravatin g the Filipino citizens, U.S. citizens and corporations were granted equal access to the pictorial resources of the country. some(prenominal) nationalists were not in favor of the bell trade act because it was a curtailment of Philippine sovereignty, virtual nullification of Philippine independence as said by former president Sergio Osmena. Roxas supported the acceptance of two important laws passed by the Congress of the United States to the Philippines. These laws were The Philippine Rehabilitation Act and the Philippine Trade Act (Bell trade act). On August 5, 1946, the Treaty of General Relations was ratified between the Philippines and the US. It recognized Philippine independence as of July 4, 1946 and relinquished American sovereignty over the Philippine Islands.The establishment of US bases was also included in this treaty. On March 14, 1947, the Treaty of General Relations was signed. On kinsfolk 7, 1946, Manuel Roxas granted a General Amnesty to guerrillas who were impr isoned during World War 2. On January 28, 1948, General Amnesty was given to all those arrested for conniving with Japan. An earlier forgiveness hindered Roxas because of his fear that the Americans might stop rendering financial assistance to the country. On January 1, 1947 under the Bell Trade Act, the Parity Amendment was introduced. It gave American citizens and corporations equal rights to Filipinos to utilize natural resources and operate public utilities. On March 11, 1947, it was ratified in a national plebiscite.

The Definition Of Sustainability Engineering Essay

The Definition Of Sustainability engine room EssayA Sustainable ontogenesis is a development which meets the needs of the present without whippy the ability of future generations to meet there own needs. The natural environment is the source of all substances that sustain human life on this planet and is to a fault an invaluable sink for our wastes. Because of this it is vital that it doesnt get worn out or become unusable. This is where sustainability comes into play. With the right techniques, measurement and implementation of policy or even law, we, as a melt, can act in a sustainable manner and take what we need from the planet without causing it harm. This can be applied from the biggest urban center down to the smallest design thrust. (Sustainable development for engineers. K arl Mulder)The History of SustainabilityThe idea of sustainability as we know it emerged in a series of summits and reports during the 1970s and 1980s. The UN Stockholm Conference on the piece Enviro nment, in the year 1972, marked the first great international meeting on how human activities and treatment of the earth were harming the environment and putting the human race at risk. The 1980 World Conservation Strategy bring forwardd the idea of environmental protection in the self-interest of the human race and in the interest of the planet.The Brundtland report say that the halting of economic development was not a feasible option, but it must change to take to the woods with the planets ecological limits. It besides popularized the term sustainable development (http//www.sustreport.org/background/history.html). It was the World Commission on Environment and Development that brought the idea of sustainable development into broader dissertation. Saying this, it was not until the UN Conference for Environment and Development and the commonwealth Summit, held in Rio de Janeiro in 1992, that the concept was spotlighted on the centre stage of the GPPD (global public policy deb ate). Our Common Future was the third in a long call of reports to focus attention and discussion in the world scientific community. The interest in sustainability that thrived during that time period was accelerated by a series of incidents and discoveries, such as the leak of poisonous gas from a chemic plant (Bhopal, India), the hole in the Antarctic ozone layer, the explosion and radioactive release (Chernobyl, Ukraine), leaking toxic chemical dumps, such as Love Canal and worry and conflict over decreasing natural resources (e.g forests and fisheries). This has led us to where we stand today on the melodic theme of sustainability and its ever growing need to be properly measured, implemented and sustained in our developments and advances (http//www.reliefweb.int/rw/rwt.nsf/db900SID/LHON-68ZJDP/$File/Introducing_Sustainable%20_Development_Introduction.pdf?OpenElement).Why do we need Sustainability?The easiest answer is that unsustainable societies collapse. Easter Island and the Maya in Central America are just some example of its importance. These were once powerful societies but they came apart and collapsed because they apply there resources relentlessly until they eventually couldnt conk as they used to and became victims of devolution. And how does this relate to modern day golf club? Its all around us, global warming due to our industrial activities, the impending oil/ readiness crisis due to our dependency and lack of effective, sustainable alternatives and the general breakdown of social conscience through globalisation. It is vital that human kind becomes largely (Sustainable development for engineers. Karel Mulder) sustainable to combat these challenges and continue progressing as a race. This kind of sustainability cannot be achieved at once and starts from the basic building blocks of society upwards. This means that each new excogitate thats undertaken should be required by law, or at least strong policy, to comply with sustainability standards. This is the area that will be focused on in this project, evaluating the sustainability of a design project. This starts with examining the policies that are in place in certain countries/counties and considering the unification of these policies to provide a world wide standard (Rough guide to sustainability. Brian Edwards). Also the management in which sustainability is measured is an area of research which is of vital importance. Without proper measurement, sustainability will never be implemented properly and to full effect. The methods of measuring sustainability will also be studied to determine if its possible to improve on the measuring systems already present. This will take the form of an evaluation matrix to measure the sustainability of a design project.Basis of SustainabilityAs we enter the 21st centuary, the concerns over the environment and its values that took root in the 1960s see brought into clear focus an awarness of the earths kickshaw as a natural system. Sustainable development implies a redefinition and review of concepts such as wealth, production and interest. The basic need of sustainability is co-operation and international agreement. In an warning system, economic theory should find a method of including as repairs of nature and human development into its equations. Although it is not possible to layout the definition of a fully sustainable society as a situation to aim for, there are some basic headliners that can be examinedThe consumption of resources should be minimized.Consumption of non-renewable materials should be phased out.renewable materials and energy sources should be the preferred choice.One should not just contribute to the private good, but to the common good also.The question is asked in many of the articles provided on the web, Can we afford sustainability? After a minor nitty-gritty of study the answer is clearly, we put one across no choice. If society continues on the road it has taken wherefo re the human race is facing chaos and decline. There is no alternative to sustainable development(Sustainable development for engineers. Karel Mulder).Sources of Non-SustainabilityAs it stands the planet is rife with sources of unsustainability and this is, at last, advent under some strong scrutiny. Apart from population stabilization, five common but quantifiable criteria for sustainability are recommended, including1 The stabilization of greenhouse gas concentrations in the atmosphere.2 The stabilization of acidity in rainfall.3 The reduction of wasteful uses of heavy metals to natural enlistment rates.4 The abolition of agriculture based on pumping fossil water from non-renewable sources/aquifers5 The eradication of loss of arable land because of erosion or salination. Other measures, such as the preservation of biodiversity, might be added to the list.(http//www.sciencedirect.com/science?_ob=ArticleURL_udi=B6VDY-3Y2MYGC-C_user=906470_coverDate=03%2F31%2F1996_rdoc=1_fmt=high_or ig=search_origin=search_sort=d_docanchor=view=c_searchStrId=1489005091_rerunOrigin=scholar.google_acct=C000047746_version=1_urlVersion=0_userid=906470md5=55b4d1a71740ab0900429fdcc5168d36searchtype=a) Unsustainable actions/activities can be defined as those that require a constant usage of non-renewable resources or use a greater amount of natural resources than the earth can generate, are the source of degradation to the environment, require such large quantities that they will not be operable for future generations, shake up species towards the point of no return or extinction, actions that promote or stimulate selfishness and actions that create the risk of a disaster. This particular point of the study does seem to report beyond the reach of the project title but it is important to have a broad understanding of sustainability and its challenges before the more(prenominal) intricate areas of its evaluation are tackled (Sustainable development for engineers. Karel Mulder).Measu ring SustainabilityCEEQUALIntroductionCEEQUAL is an assessment and awards scheme for improving sustainability in civil engineering and public realm projects. Its original title was the Civil Engineering Environmental Quality Assessment and Award Scheme. It is based in the united kingdom and is promoted by the ICE (institution of civil engineers) The method is most commonly used for the assessment of large scale projects. It was originally developed by a team led by the ICE and supported by the institutions RD enabling inventory and the UK government. It is based on a self-assessment carried out by a trained CEEQUAL Assessor that is then externally and autonomously verified by a CEEQUAL-appointed Verifier. Its objective is to promote the achievement of environmental excellence in civil engineering, and thereby deliver improved environmental and social performance in project specification, design and social organization. (http//www.ceequal.com/how.htm)How does CEEQUAL work?The schem e assesses performance across 12 areas of environmental and social importance. The assessment is made up of 200 questions which are contained in the CEEQUAL Manual relating to social and environmental aspects of a project such as the use of water, energy, land, impacts on ecology, landscape, neighbors, archaeology and waste minimization and management as well as community relations and amenity. It rewards project teams in which designers, clients and constructors go beyond the legal and environmental minimum standard to achieve distinguishing levels environmental and social standards. (CEEQUAL PDF) It basically determines how well a project team has dealt with environmental and social issues in work the work being carried out. When used during the design and construction phases, the CEEQUAL assessment is more than likely going to have a positive influence on the projects social and environmental performance. The organization that registers receives a copy of the latest version of th e CEEQUAL manual and also a marking spreadsheet for the category of award applied for. A CEEQUAL assessor then carries out an assessment on the project and scores the project accordingly. This assessor will have been trained at a CEEQUAL Assessor training course and also will have his assessment verified by an appointed CEEQUAL verifier. It is always outmatch to carry out the assessment as the project progresses. This allows supporting evidence to be collected alongside the design and construction phases and leads to an overall result which is more accurate and reliable. Based on the assessment an award is allocated to the project, whether it be the client, the designer or the contractor, or all three. (http//www.ceequal.com/about.htmhow)AwardsCEEQUAL provides the civil engineering industry with an incentive and set of rules for assessing, benchmarking and labeling the sustainability performance of projects as part of the industrys contribution to sustainable development. This set of rules leads to the proper assessment of the design project and assigns an appropriate award based on the projects performance. The awards available in the assessment method are as followsThe Whole purge Award (WPA), applied for jointly by or on behalf of the Client, Designer and jumper cable Contractor.The WPA with an Interim Client Design Award (the stage in the design process at which the Interim Assessment is undertaken can be chosen by the applicant to best suit their needs and procurement process).The Client Design Award, applied for jointly by the Client and Designer.The Design-Only Award, applied for by only the principal Designer.The Construction-Only Award, applied for only by the Principal Contractor.Design Construction Award for project teams that do not include the client, on design construct and otherwise partnership contracts.The award achieved at the end of the day is reliant on the score awarded to the project after the assessment. (CEEQUAL PDF)Objectives of CEEQUALThe objectives of the CEEQUAL Scheme areTo recognise the achievement of good, actually good or excellent environmental and social standards in civil engineering and public realm projects.To promote and advertise enhanced sustainability performance in project specification, design and constructionTo create a climate of environmental awareness and continuous improvement in the industry.In essence, CEEQUAL is a tool for Project Teams to assess how well they have dealt with the environmental and many social issues on their projects, a mechanism for having those assessments externally and independently verified and recognition gained, an evidence-based assessment, not an assertion-based assessment, a question set that can be used by Project Teams as a checklist to significantly influence the development of design and/or construction management made as a project progresses from concept to completion.

The post washington consensus development

The post washington consensus out branchThere adopt been several discussions astir(predicate) whether or not the pileus letter consensus and the post capital of the United States consensus (alos referred to as the bran- sassy consensus) court shot to study ar fundamentally different addresses to training. The dry land Bank and International M sensationtary fund critics argon quick to say twain approaches atomic number 18 the same, and that the capital of the United States consensus was just repackaged and given a new brand, name and identity in the Post Washington consensus development approach. Although it is easy to see how it base be assumed that the underlying fundamentals of the Washington consensus and the post Washington consensus are unchanged because the latter still encompasses the principles of the bounceer that was generally a centering on market reform as the approach for growth and development. However, the fact that the post Washington consensus bui lds on market reform and includes various other elements disregard by the Washington consensus like institutional reform and good face which are elements that evoke the goals of the new consensus and enable it to promote sustainable, egalitarian, and democratic development (Stiglitz 200117). These additions and ample goals therefore make both approaches fundamentally different from one another, even though they both advocate market reform (which is where the similarities end). While the Washington consensus pore on the perfection of the market the post Washington consensus does the exact opposite, it points out market limitations and ways of correcting such limitations (Stiglitz 2001). The purpose of this paper is to illustrate just how different both approaches are by looking at the foundational frugal theories they are built on, the components of both approaches and their methodology.The Washington consensus is an approach to development that involves various frugal form _or_ system of government prescriptions that are designed to move an frugality towards economic growth and development when implemented. They include ten basic polices that create a liberal market and economy. concord to Williamson who coined the term and the originator of the list, they includeMacroeconomic stability (restoring fiscal discipline by controlling budget deficit)Redirecting expenditure (reduction of government spending)Tax Reform (involved change magnitude tax and value added tax.)Financial liberalizationUnified Exchange rate (to encourage and ease contend)Replacement of quantitative trade restrictions by Tariffs (trade liberalization)Abolishment of Barriers to entree of foreign direct coronations (Liberalizes FDI)Privatization of state owned enterprises (reduce government spending)Deregulation (reduce state interference)Legal system should provide secure property rights (Williamson 2005 35-42)The policies under the Washington consensus are designed to liberalize various sectors of an economy. They are also directed towards increasing market talent, productivity and growth. Not all the policies under the consensus are implemented at the same time and in almost cases, there is a lot of mixing and matching done by the governments implementing these policies with a few policies being more than(prenominal) popular than others. Williamson (2005 43) notes that (i)n terms of which reform(s) policies were most widely implemented, there have been widespread attempts to tighten fiscal policy, introduce extensive monetary and trade liberalization, eliminate restrictions on foreign direct investment, and promote privatization and deregulation. These policies have earned the Washington consensus a bad reputation of increasing poverty because adjustment and stabilisation policies tend to humble real wages, as control over money wages is combined with devaluation (Stewart 19911849), unemployment coupled with other various adverse effects from such p olicies on the suffering in a country lead to social decay. The failures of such policies are evident in various ontogeny countries like Bolivia, Nigeria, and Zambia (discussed in Adefulu, 1991) whose economies after adopting stabilization and adjustment policies experienced stagnant or slow growth. These countries experienced worse situations than they were in before the implementation of the structural adjustment programme under the Washington consensus policies prescribed by the World Bank and the International monetary fund in the 1980s. The failure of this approach to development gave rise to creation of a new development approach know as the Post Washington consensus which also included some of the policies listed above in relation to its market reform component. However, it centre not just on economic growth through market reforms but also included elements to enhance social growth and welfare and thusly encourages sustainable development. It eased and monitored the effec ts of the market reform policies on the poor by paying attention to social issues and advocating the creation of safety nets. This new approach addressed areas that had been unheeded by the Washington consensus and as a result of this, it provides a better-rounded approach to development. Unlike the Washington consensusIt aims at stabilizing the real economy as well as inflationIt tries to improve financial sector regulation, rather than assuming that liberalization is the only game in townIt includes disceptation policyIt considers various mechanisms of improving government efficiency, rather than seeking to minimize governments roleIt focuses on improving human capital formationIt seeks to increase the conduct of technology to maturation countries.(Williamson, 200545)Including these accompanying elements to the market reform policies was found on the recognition that making markets work requires more than just low inflation it requires sound financial regulation, competition policy, and policies to facilitate the transfer of technology and to encourage transparency, to cite some fundamental issues neglected by the Washington consensus (Stiglitz, 200117). The emphasis placed on trade liberalization, deregulation, and privatization under the Washington consensus approach often lead policymakers to disregard the importance of various factors like competition, which contribute to the effectiveness of a market economy and which may be just as important as economic success (Stiglitz, 200120-21).The Washington consensus and Post-Washington consensus not only differ establish on their development goals, the economic theories and principles on which they are based upon are from different schools of thought. The former based on the system of logic of Keynesian economics of liberalization and the mantra of lazzie faire allows the market to stabilize itself with subatomic or more preferably no government intercession. The Washington consensus therefore was foun ded on the neo-classical economic theory centered on the idea of instrumental cause (North 1995). Instrumental rationality implies that individuals in the market make decision in such a way that creates a perfect market. Their decisions are made based on factors that offer them maximum utility. Under instrumental rationality it is assumed that values are accepted and given as constant, objective decision of the public as it is can be postulated and.. decision makers computational powers are unlimited (North, 19957) thus when an imperfection arises in the market because of this factors, the market will correct the imperfections itself. Therefore, there is no need for government intervention. Under this approach government, interference is seen to disturb the flow of the market and impede its efficiency and growth of the economy.The Post-Washington consensus is however eclectic, drawing from the logic of different economic principles. It draws from both the principles of the new de velopment economics, and the new institutional economics (NIE) which understand and value the role the state plays in the regulation of market functions. New development economics according to Ben Fine (2006) was created to accommodate the shift towards the post Washington Consensus. It extends beyond only economic principles and includes other fields of discipline like sociology and non-economic factors. It also places emphasis on market imperfections and asymmetrical information amongst parties in a market. In this theory in contrast to economic approach, institutions, customs, as well as economic and social structures are interpreted seriously rather than presumed to be equivalent to as an as if market situation (Fine, 2006 8)NIE advocates the entailment of institutions, and their importance in solving the line of transaction costs that may exists in the market due to asymmetrical information. Institutions are an important aspect because they are the rules of the game of a soc iety, or, more formally, are the humanly devised constraints that structure human interaction (North, 1995 23). They could be formal in the grit of laws created to govern and informal based on norms. The post- Washington consensus as a development approach recognises the fact that markets in developing countries often carry a high cost of transaction, which deters investment and slows down market productivity. Transaction costs arising from asymmetrical information will often lessen confidence in the market and cause insecurity. To remedy the problem institutions are required becauseefficient institutions lessen insecurity and thereby increase readiness to invest(North,1991 in German Fed Ministry, 2004 7). Over the long term, propelling growth motiones can only be sustained when institutions exist that encourage the growth of productivity and guarantee a high degree of stability, that is, reduce photo to external shocks. (German Fed Ministry, 2004 7)Another difference betwixt bo th development approaches is in relation to their view on state intervention in the market. The Washington consensus approach views government intervention as an interference with market perfection. Under this approach, the market will resolve its problems and set the right price, and government or state intervention disrupts this ability and therefore create imperfections and inefficiency. A good illustration is of African countries like Nigeria and Ghana who after independence interfered with the export markets use commission boards and monosponies (singles buyer where there are many sellers) for their agricultural products (discussed in Bates 1981). The boards had an influence on market prices and could afford to be inefficient because the cost of inefficiency could be easily transferred from the states board to the farmers and consumers (Bates 1981). This supports the Neo-liberal view that when states are involved in markets, macroeconomic rationality if foregone for their pref erence of macroeconomic policy instruments. The Washington consensus follows the policy of a non-interventionist state or one with minimal role in markets. The post Washington consensus however, draws from the example of the East Asian countries miracle (which attributes most of its success to state intervention in markets) and promotes the importance of government intervention because of imperfections that already exist within the market. It advocates that the state regulate the market through the creation of institutions, legal framework, and property rights. entirely of which will solve the problems that exist in an imperfect market like inadequate flow of information and allow proper contracts to be drawn between transacting partners. The government according to the logic of the post Washington consensus should serve as a compliment to markets, undertaking actions that make markets work better and correcting market failures (Stiglitz, 200141).The Washington consensus approach t o development as mentioned previously wanted little or no state intervention and disregarded the role of the state. The post Washington consensus approach however, values state role so much so that the approach includes elements designed to better the governance of a developing state in the form of good governance and democracy. Under this new consensus because the state is seen as an important factor for growth and development, it provides for the reform of the state itself. The post Washington consensus recognises the fact that most developing countries are faced with government inefficiency, corruption and bureaucracy. The approach therefore proposes that states should practice good governance, which entails democracy, transparency, and rule of law to mention a few. The post-Washington consensus approach to development considers the practice of good governance as a pre-requisite for sustainable economic growth and development. Under this approach, states role, efficiency or lack thereof and politics is taken into consideration for development purposes, while the Washington consensus approach lacks this attention to governance issues. The disregard for state issues is due to neo-liberalisms skepticism of the state and autonomous exaltation of individual and the view that the stateneeds to be extricated from the market scotch reforms accordingly take priority over political reforms and civil liberties (Abrahamsen, 200030) under the Washington consensus.The post Washington consensus approach to development considers factors outside of economics for instance education and health care. This is another fundamental difference between it and the Washington consensus. The new consensus values the importance of such elements to the development process unlike the Washington consensus that disregards them. Under the new consensus, there is an understanding that development needs to be sustainable and in this regard, it provides for elements that carry it in that direct ion. Education allows for the development of human capital and the society. If the people are developed, they can move development along by reservation valuable contributions in the society. According to Stiglitz (200146), promoting human capital isa policy that can help promote economic development, equality, participation and democracy. The East Asian countries for instance Japan (Stiglitz, 2001) placed an emphasis on educating its citizens by making basic education compulsory make viable examples of how educating a countrys citizens can contribute to sustainable economic growth and development. Social aspects like education ignored by the Washington consensus is regarded an important element of the post Washington consensus approach.The post Washington consensus approach to development is created in a way that trains its effects are long-term on the economy as supposed to the short-term effect of the Washington consensus. It achieves this because of its broader goal and dedicat ion to issues outside the realm of economics and the market. According to Stiglitz (200168) The new development strategy takes as its core objective development, the transformation of society, this fact and its inclusion of social factors as part of the development agenda ensures that it encourages sustainable development and not only the growth of gross domestic product (GDP).Participation and sense of self-command is another aspect in which both approaches to development have fundamental differences. The Washington consensus approach pays little or no attention to fostering the sense of owner ship instead it reduced state ownership through the heavy promotion of instant privatization. The post Washington consensus on the other hand recognizes that fostering a sense of ownership and participation of developing country governments and its people has an effect on how effective the programs being adopted will be. The government has to implement the development programs that have been recommended by international institutions and if the developing country feel like they are in control and have an opinion about the changes going on in their country they might ensure that the programmes are implemented effectively and not on a superficial level. Lack of proper implementation on part of developing nations government is one explanation offered by the World Bank as a reason for the failure of the structural adjustment programs under the Washington consensus. By including a sense of ownership and encouraging participation, the post Washington agenda ensures that the new approach to development does not face the same problem.The differences between both approaches also extend to how their various components are implemented. For instance, privatization, which is an element of both development strategies as a part of the market reform component of the Washington and Post Washington consensus, has been implemented and understood differently under both approaches. The conc ept of privatization under the Washington Consensus was to reduce government spending and deficit while removing inefficient state enterprises and creating economic stability. Sale of state owned companies would create revenue and competition between surreptitious owners would make enterprises more efficient and more productive therefore it had to be immediate. The post Washington consensus however views privatization as something that has to occur gradually, most importantly after the necessary institutions that would enhance competition has been put in place and not before. The premise for this is that just because public enterprises are made private does not guarantee their efficiency because if the proper institutions were not in place to encourage their efficiency they would not be as productive as expected. The post Washington consensus is however not against privatization, as Stiglitz (200138) comments The Washington consensus is right- privatization is important. The govern ment needs to devote its odd resources to areas where private sector does not and is not likely to enter. The new consensus is in support of privatizing public enterprises that are unnecessary and can be undertaken by the private sector with institutions to aid its efficiency already in place. Nonetheless, the approaches to privatization under both development programs are different.Both approaches though having a common goal, which is to bring about growth and development, go about it in different ways and have different fundamentals. The Washington consensus approach to development places emphasis on economic growth through increase in GDP levels and market reform. Its fundamental objective is to make market forces more efficient and increase productivity within the economy. This approach is a strong advocate for policies involving deregulation, privatization and stabilization. The post- Washington consensus approach (devised after failure of the previous consensus) on the other hand focuses on development through societal transformation. This approach goes beyond the market approach of the Washington consensus to include broader goals and social factors like health care and education. The new consensus core objective is a more equal, egalitarian and democratic type of development (Stiglitz, 200117). The broader goals and objectives pursued under the post-Washington consensus makes it fundamentally different from the Washington Consensus approach to development.BibliographyAbrahamsen, Rita (2000). 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What the World Bank means by Poverty Reduction. New Left Review. 9 (2), 189-104Fine, Ben. (2006). The new development economics. In Ben Fine, Jomo K. S. The new development economics after the Washington Consensus. 2nd ed. London Zed Books. p1-20.Fine, Ben. (2001). Neither the Washington nor post Washington consensus introduction. In Ben Fine, Costas Lapavitsas, Jonathan Pincus Development policy in the twenty-first century beyond the post-Washington. New York Routledge. p4-15.Ge rman Federal Ministry for Economic Co-operation and Development. (2004). Post-Washington-Consensus- A Few Thoughts. Available http//siteresources.worldbank.org/INTEDS05/Resources/PostWashingtonConsensus-englisch-04-2004.pdf. Last accessed 15 January 2010.Gore Charles. (2000). The Rise and Fall of the Washington Consensus as a Paradigm for Developing Countries. World Development. 28 (5), p789-804.Lal Deepak. (1995). Misconceptions of. In Corbridge, S Development Studies. New York Arnold. 56-63.Moseley P.. (1991). World Development and International Finanace since 1970. In Moseley P, J Toye, and Harrigan J Aid and power the World Bank and policy-based lending. London Routledge. p3-25.North Douglass. (1995). The new institutional economics and Third World development. In John Harriss, Janet Hunter, Colin M. Lewis The new institutional economics and Third World development. London Routledge. p17-26.Stewart Frances. (1991). The more Faces of Adjustment. World Development. 19 (12), p1847 -1864.Stiglitz, Joseph. (2001). More Instruments and Broader Goals Moving Toward the Post-Washington Consensus. In Ha-Joon Chang Joseph Stiglitz and the World Bank the rebel within. 1st ed. New York Anthem. p17-56.Stiglitz, Joseph. (2001). Towards a new Paradgim for DevelopmentStrategies, Policies, and processes. In Ha-Joon Chang Joseph Stiglitz and the World Bank the rebel within. 2nd ed. New York Anthem. p57-93.Tornquist, O. (2001). The Primacy of Institutions. In Tornquist Olle Politics and Development. 2nd ed. London Sage Publications. p86-102.Van Wayenburg Elisa. (2006). From Washington to post washington illusion of development. In Ben Fine, Jomo K. S. The new development economics after the Washington Consensus. 2nd ed. London Zed Books. p21-45.Williamson, John. (2005). The Washington Consensus as Policy Prescription for Development. In Timothy BESLEY Roberto Zagha Development Challenges in the 1990s. WashingtonDC World Bank Oxford University press. 31-57.Williamson J. (1993 ). Democracy and the Washington Consensus. World Development. 21 (8), p1329-1336.World Bank. (1997). Fostering MarketsLiberalization, Regulation, and Industrial Policy. In World Bank World Development Report the state in a changing world. New York Oxford University Press. p61-75.World Bank. (1994). Moving Towards sound Macro economic policies. In World Bank Adjustment in Africa Reforms, Results, and the Road leading. 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UK Telecommunications Management of Interest Rates

UK Telecommunications Management of Interest RatesINTRODUCTIONIn business world today many an(prenominal) another(prenominal) companies ar faced with the increase in volatility of financial markets which has lead to increase in financial price risk. Many companies be faced with photo to financial risk which are ca purposed by unanticipated telephone exchange roam and interest tread movements. These unanticipated movement in exchange rate which is caused by international competition disregard results into large gain or loss if the risk is not managed properly. put back rate movement generate business risks which can vary the current foreign assets and liabilities and interest rate movement can have indirect impact on attach tos value on its future specie flows.Domestic and multinational companies who are faced with these kind of risks must assure that they control these risks otherwise if they are unmanaged then this can result into total ill luck of business. Financial In stitutions have introduced different products to help companies in risk attention. These products are Forward contracts on exchange rate, coming(prenominal)s contracts, Interest rate swaps and Options. Forward contract organism the oldest product to be introduced to manage both foreign exchange and interest rate risks.1.1 Problem statementChanges in business environment and increase in movement of interest rate and exchange rate has resulted into rise in financial risk exposure. These movements can affect not only companys profit exactly also companys survival in indirect way. Financial risks management has turn to be a significant area of pertain for UK corporations.Therefore this proposal adjudicate to find out how UK Telecommunications industry handle financial risks in an increasing business risk environment.Research aim and objectivesAimThe main aim of the moot is to determine how firms in UK Telecommunications industry manage interest rate and foreign exchange financial r isks by looking into use of derivatives.1.3 Research ObjectivesThe primary objectives of the enquiry will beTo determine how companies manage riskTo determine whether derivatives are used or notTo determine which derivatives are used and for what purpose revelation of financial instruments1.4 Research QuestionsThe following research questions will guide this researchHow companies manage risk?Are derivatives used or not used?Which derivatives are used and for what purpose?What are the disclosure of financial instruments?2. LITERATURE REVIEWDerivatives are financial instruments whose values are deduced from some underlying assets or rate/price. Derivatives are now of paramount importance to the business world, with imaginary value of more than $200 trillion of these derivatives are being traded on coordinated and oer the counter markets in 2004 (Bank for International Settlements, 2004).The financial products which are provided by FinanciaI Institution are options, futures contract, f orward contract and interest rate swap. The common Interest rate derivative is Interest rate swaps and others are future contracts and interest rate options while for foreign exchange derivatives are forwards contracts, currency swaps, foreign exchange futures and options. Forward contract gives the possessor the obligation to buy an asset at set price and maturity date as agreed in the contract. Future as like forward but in futures are public traded while forwards are private contracts. Unlike future and forward, options give the owner the right but not obligation to buy or sell an asset at a fixed price on or ahead specified date (Prevost et al, 2000).Derivatives are used to cut down cash flows and earnings volatility caused by changes in foreign currency exchange rates, commodity prices, interest rates and other risk factors (Barton J, 2000).Use of financial derivatives is widespread, especially among large publicly traded companies and is still increasing sharply.For example , in a study through by Guay and Kothari, (2003) based on annual reports information of 413 largest firms in the U.S revealed that 57% were apply derivatives. In another study of 314 Fortune 500 firms showed that 72% were using derivatives (Barton J, 2001). Mallin et al. (2001) did subject analysis on the use of derivatives in risk management, he mailed questionnaire to 800 UK non financial firms listed on London stock exchange. Results showed that of 231 respondents 32% were applying at least(prenominal) one derivative instrument. Another researchers Bodnar et al (2003) studied derivative usage in managing risk to 167 non-financial Netherlands firms and revealed 84 usable responses which is 50.3%. In India a study was conducted to shew derivatives usage in managing foreign exchange risk to 640 companies which were faced with foreign exchange exposure and results showed that 70.4% of respondents used foreign exchange derivatives to manage risk (Anand and Kaushik 2007).Whilst man y firms use derivatives in managing risk, misuse of it may result into major losses. This was proved by Karpinsky (1998) who revealed companies like Sumitomo Corporation lost $3,500 million in 1996 because of copper future.On the other hand El-Masry (2003) collected data from questionnaire mailed to 401 non financial companies listed on London stock exchange, 50% of respondents did not use derivatives because the risk exposure was not substational. Likewise suryey done by Bodnar et al (1995) revealed lower use of derivatives and the reason being low insignificant exposure.Regarding to mostly used derivatives to manage risk exposure, come off done by Marshall (1997) pointed that options, swaps and forwards were normally used to manage interest rate and foreign exchange risks. In El-Masry (2003) survey of UK non financial firms, results indicated that firms use options at 29.4%, forward/future at 23.7% and swaps 23.1%.3.0. RESEARCH METHODOLOGYResearch designThis study will be conduct ed as a quantitative surveySources of dataThe main source of data will be the annual reports of 10 companies in the UK telecommunications industry for the past three years.Documentary sourceships bell (1999) state documentary source involves the reading of relevant information from library source such as text books, journals, newspapers and internet. Secondary source will enable a researcher to conduct broad investigation and help confirm the reliability of the findings given that the findings may be subjective and this source will be used as well to cut down reliance on the annual reports as the main source of data used in the study. sample selectionSelection of sample will be based on the public data information of the companies and the eligibility criteria will base on following factorsThe company must be in the telecommunication services industryThe company must be either a Domestic or a multinational one which is exposed to financial risks as an outcome of international compet itionThe company should be among of the listed London Stock Exchange companies data analysisData collected will be analysed using Statistical Package for Social Sciences (SPSS) and presented using frequency table.4. CONCLUSIONMeasuring and managing financial risk exposure are crucial functions in cutting down companies vulnerabilities from major exchange and interest rate movements.Financial derivatives are very important in risk management of corporations5. REFERENCEAnand m., Kaushik k. p., (2007).Management Motivations for Use of Foreign Currency Derivatives in India, IIML Working Paper Series.Bank for International Settlements. (2004). Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in 2004. http//www.bis.org/publ/rpfx05.htm.Barton, J. (2001). Does the Use of Financial Derivatives Affect Earnings Management Decisions? The Accounting Review, 76, 1-26.Bell, Judith. (1999). Doing your Research Project A guide for first term researcher in Education 3rd Edition Buckingham, Open University press.UKBodnar g. m., de jong a., macrae v., (2003). The impact of Institutional Differences on Derivatives recitation a Comparative Study of US and Dutch Firms?, European Financial Management vol. 9, No. 3, pp. 271-297.El-masry a.,(2003) A survey of derivatives use by UK non financial companies, Social science research network Manchester Business naturalise pg.455.Grant, K. and Marshall, A. P. (1997), Large UK companies and derivatives?, European Financial Management, vol. 3 no. 2, pp. 191-208.Guay W Kothari, S. P. (2003). How Much Do Firms Hedge with Derivatives? Journal of Financial Economics, 70, 423-461.Hentschel, L., Kothari, S. P. (2001). Are Corporations Reducing or taking Risks withDerivatives. Journal of Financial and Quantitative Analysis, 36, 93-118.Mallin c. Ow-yong k. and Reynolds m.,(2001) Derivatives usage in UK non-financial listed companies, The European Journal of Finance Vol. 7 (2001), pp. 63-91.Saunders, M., Lewis, P. Thornhill, A. (2007). Research Methods for Business Students. 4th Edition. Pearson Education Limited UK.Prevost, A. K., Rose, L. C., Miller, G. (2000). Derivatives Usage and Financial Risk Management in Large and Small Economies A Comparative Analysis. Journal of Business Finance and Accounting, 27, 733-759.

Sparta Vs Athens :: essays papers

Sparta Vs AthensIn Ancient Greece there were two different major forms of organization,Oligarchy and Democracy. The two city-states that best comprise eachform of government were Sparta (oligarchy) and Athens (democracy). Thedemocratic government in Athens, though de cently equal, fair and fairlyadvanced for its time, did not meet the needs of the Greeks. During atime of many military battles Athens decided to worry more about comfortand culture. It is the oligarchy in Sparta that put a war-like attitudeas its premiere priority and best met the needs of Ancient Greece. The Athenian democratic government, which may have given the citizens inGreece more freedom, was not the best form of government at the time. Thedemocracy in Athens cannot really be called a true democracy since therewere several flaws in the governme nt and the way it worked. Only decennary percent of the total cosmos of Athens actually had voting rights and allof these citizens were upper class men who wer e over thirty years old. Women, no way out what the class or age, were given no freedom at all. They were first owned by their fathers and then were passed from them totheir husbands who then gave them nothing more than the responsibilitiesof managing the household and educating the children. During a meeting ofthe Assembly, a policy could be adopted and formed into a law but once themeeting of the assembly ended, the enforcement of that law was left in thehands of people who may not agree with that specific law. Also, a rule ofthe Assembly said that if a certa in speaker became too powerful, hecould be expelled from the country if given a majority vote by theAssembly. This rule could easily be abused and really infringed on thefreedom of quarrel that most democracies have. The Assembly was made up offive hundred men who were chosen from a list of those who were eligible toserve on the council. Since most of the population was of a lowereconomic class, the time taken away fro m their normal work by serving onthe Assembly lowered their earning potential , do their already poorsituation to worsen. Life may have been sophisticated and graceful inAthens but the Athenians were often mocked by opposing countries and former(a)city-states for having no bravery, patriotism or courage. This was shownby the repeated attacks on Athens. If the Athenians had a more war-like

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the single stage converter is introduced in the proposedwork. The output from both the systems are abandoned to thefly-back converter it will give the constant dc voltage asthe output. By controlling the switching period of theconverter switch the output rump be controlled. Thefigure shows the interfacing of hybrid system usingindividual dc-dc converter.Fig.6 Hybridization using individual boost convertersVI.SIMULATION RESULTSThe Fig.5 shows the block diagram of singlestage converter for the proposed hybrid system. In theexisting system two individual dc-dc converters wereused for controlling the power flow which will increasethe number of circuit components. To trim down this, singlestage spiritual rebirth is used. The output from both wind andsolar system is given to the fly-back converter unit. Thiswill carry out the proper conversion for the requiredoutput. In this hybrid system Solar array is considered asa main source and wind will operate parallel to this. Theconductivity period of the switch is varied accordingly tothe output required. In the single stage conversion noma...