Theories of Growth and Debt

Theories of offshoot and DebtBasically in frugalal literature we learn two ways in which a rural ara slew grow its economy. It nates be emergence which has been brought ab step up by innovations in the process of competition, which can well be described by the dynamic completion manakin (Ellig, 2001). On the other overtake according to Solow (1956) neoclassical archetype scotch return can be achieved by an expansion in the amount of enthronement. According to this model a country entrust attain economic growth if it profits its nest egg and investments. This automatically implies that for the least developed countries to grow economically they need to implement policies that hold water great savings that will then ontogeny investment and hence growth.To finance its activities a country has a number of options of raising the funds. It can beat use of the internal sources such as taxes and fees or it can borrow if the internal source is not enough to finance the bu dget deficit. According to Adegbite, E et al (2008) the Dual Gap theory is a better explanation of the reason for opting for outer finance as opposed to domestic financing in financing the sustainable development. According to the theory in developing countries the take of domestic savings is not sufficient to finance the needed investment to ache economic development since investment is a function of savings it is logical to require the use of complementary external goods and attend tos. However, the relationship between domestic savings and immaterial funds gives a guide as to how a country can borrow abroad (ibid). Also since near of LDCs are far from their squiffy state growth whatever investment injection could lead then to stir accele come outd economic growth.The country should borrow abroad if it is anticipated that the extradite on the borrowed funds will be high than the embody, thitherfore we do expect a country to invest in projects having expect returns higher than the cost of foreign debt. Since if not used wisely, debt can amount to impeding the long term growth prospect of the country. External debt does not transform automatically into debt hinderance when a country optimally make use of the fund. According to Adegbite et al (2008) in an optimal condition, the marginal return on investment is greater than or equal to the cost of borrowing, in this case debt will show a validatoryly charged shock absorber on growth.According to the neoclassical growth theory, debt has a positive direct force on economic growth. This is because the amount borrowed if used optimally it is anticipated to increase investment. On the other hand the collateral effect of debts is its effect on investment. The transmission apparatus through which the debt affects growth is its reduction on the resources operational for investment by debt overhaul. According to debt jut hypothesis, a certain level of external debt has a direct positive effect t o economic growth until a certain point where by an additional debt will have a minus effect to growth.The Debt Overhang TheoryAccording to Krugman (1988), the debt overhang theory shows that if there is or so likelihood that in the hereafter debt will be larger than the countrys repayment ability expected debt-divine service be will discourage further domestic and foreign investment because the expected rate of return from the productive investment projects will be very low to support the economy as the significant portion of any subsequent economic progress will increase to the creditor country. This eventually will further reduce both domestic and foreign investments and hence downsizes economic growth (Krugman, 1988, Sachs, 1989a).Claessens and Diwan (1990) argue that debt overhang is a stead in which the illiquidity effect, the dis inducing effect, or both effectuate are strong enough to discourage growth in the absence of concessions by creditors. This is a contract d efinition of the debt overhang where the shock absorber of a high external debt that is linked to the tax disincentives argument, where any success in indebted countrys economic cognitive operation is taxed outdoor(a) by creditors and ultimately little is left over for domestic investment and subsequent growth (Hjertholm, 2001).According to Were, M (2001) debt overhang is much wider in that the effect of debt do not lone(prenominal) affect investment in physical great(p) tho any activity that involves incurring costs up-front for the sake of change magnitude output in the future. Such activities include investment in human capital (in terms of education and health) and in technology acquisition whose effectuate on growth may be even stronger over cadence.As stressed out by Agenor and Montiel (1996), the approach to external debt is motivated by several observations. almost of which indemnity-oriented discussion of the debt problem were centered on the question of whether the debt crisis was one of solvency or of liquidity problem.Differentiating the two terms we can see that, liquidity problem is the unfitness of a country to service its debts as they fall due. That means lack of liquidity occurs when a county does not have enough cash on hand to pay watercourse obligations. On the other hand, solvency issue relates to whether the honor of a countrys liabilities exceeds the ability to pay at any time a country is bankrupt when it is incapable of servicing its debt in the long run (Ajayi, 1991).Taking this into consideration, we observe that, most of least developed countries were solvent and still they are solvent. As pointed out by Kletzer (1988), the present value of the most of least developed countries prospective resources which were measured by discounted value of the real outflows was way far larger than the debt obligations they have.In answering the question as to why the indebted poor countries had a problem of illiquidity, Jonse G. Le ta (2002) in his research on external debt and economic growth in Ethiopia pointed out that although the indebted poor countries have been able to pay i.e. solvent, the willingness to pay decline for a variety of reasons. Among many factors there are domestic and external factors that responsible for this outcome of crisis. The domestic factors often cited include wrong macroeconomic policies such as fiscal irresponsibility and exchange rate misalignment, policies that deter savings such as negative real interest rates, which in turn reduce investment and encourage capital flight and financing long-run projects with short-term credits. External factors include oil shocks, deterioration in the terms of trade and rising foreign interest rates.Essentially the higher the assembly line of debt to the country, the higher is the current sacrifice for the sake of the future growth. The theory of debt overhang is well explained by the hypothesis of Debt Laffer curve which relates the magni tude of countrys debt and the value of repayment. According to Freytag, A et al (2008) the NPV of the debt repayments increases with stock of debt up to a certain threshold point beyond which a higher face value of the debt will be associated with lower efforts and investments, lower economic growth and lower NPV of expected debt service.According to Clements, B et al (2005) high levels of debt can depress economic growth in low-income countries, external debt slows growth only after its face value reaches a threshold level estimated to be about 50 percentage of gross domestic product (or, in net present value terms, 20-25 percent of gross domestic product). Debt overhang depresses growth by increasing private investors uncertainty about governmental action taken to meet the debt service obligations. These include increase in money supply that causes inflation, distortion of future tax policies (Clements et al, 2005). Therefore the debt overhang problem is linked to the transfer of resources from capital scarce to capital bare countries.The debt Laffer curve argument (which was apparently introduced by Jefrrey Sachs) is derived from the tax laffer curve hypothesis introduced by Arthur Laffer (1981), who argues that if personal tax rates were raised, they generate a dreadful impact on government tax revenue enhancement. The reason is that high tax rates either s connote discourages investment or leads to tax evasion. Figure 1 presents the Debt Laffer diverge of external debt, expected payments and amortizations.If the stock of external debt is small, such that from the origin to point A, then it is expected that the debtor country will be able to meet the forthcoming debt repayment in full without a problem. Under this business office the marginal expected debt repayment with relation to the debt stock is one. However, after this point the expected debt repayment expands at a lower rate in relation to the debt accumulation. A country under this level of de bt stock is expected to have some difficulties in meeting the debt repayment this can be seen from the marginal expected debt repayment of between 0 and 1 exclusive. The risk of inability to service the debt increases with the increase in debt stock. The risk may vary from country to country according to the level of their debts interest rate.At point B, the expected debt repayment reaches its maximum complete(a) point and then starts falling, at this point and beyond the marginal impact of debt is negative. A country under this situation is totally unable to service the debts and most of the time declared to be in debt crisis.On extending the debt laffer curve to show the contribution of external debt on economic growth on a country we can have figure 2 below. This shows the non linear relationship of external debt and economic growth as support by Pattillo, C. et al (2002).. A probable level of external debt actually has a positive impact on economic growth while excessive debt stock is destructive. As debt stock increases with time growth decreases and it can sometimes reaches a negative level of economic growth.Combining the two figures we have figure 3. Here we can see that as debt increases, creditors expectations of being paid are distorted. From the figure it is easily seen that when the expected payment of the debt increases proportionally little than the debt stock, the distortions are such that extra amounts of debt start decelerating the GDP growth rate. Moreover, if the debt accumulation achieves higher levels such that the debtor starts diminishing or failing to make its regular amortizations, any extra debt increment will be translated into negative contributions to the GDP growth rate.Claessens et al, (1996) stressed out that, the other impart through which the service of a large amount of external debt obligations can affect economic performance include the crowd out effect, the lack of access to international financial markets and the se t up of the stock of debt on the general level of uncertainty in the economy.The crowding out effect occurs when there is a reduction in the current debt service that lead to an increase in current investment for any accustomed level of future indebtedness (Cohen, 1993).If a greater portion of export revenue is used to service external debt, very little is available for investment and growth. Claessens et al (1996) also argues that where foreign assistance is related to the debt and debt service of indebted poor countries, the effects of a debt overhang on economic performance is a more complex question. Debt servicing difficulties lead to a deterioration of relations with creditors, thus reducing the amount of finance indebted poor countries can access (Khan and Villaneuva, 1991).Theoretical Consideration of contact of Debt ReliefFrom the literature on debt overhang and its effects on growth it is evident that debt balance magnate have a stimulating effect on investment and eco nomic growth. Since debt overhang exist when a country exceeds its repayment ability, it can be suggested that, expected debt service is an increasing function of countrys output level (Krugmanv1988 Sachs 1989). Therefore in presence of debt overhang, the greater percentage of benefits of an increased output brought about the debt accrues to the creditor while all the costs incurred accrue to the indebted country.The incentive mechanism suggests that, in the presence of debt overhang high debt reduces both public and private investment. In the case of public investment, the incentive to investment is discouraged when a large percentage of the return on the debt accrues to the creditor (Johansson 2010). According to Helpman (1989) the disincentive to private investment occur when a high future debt service acts as implicit tax because more will have to be raised out of the tax to help finance the debt obligations. In this situation projects with quick return will be preferred to long term because there will be high uncertainty on government actions and its policies in meeting the debt obligations (Servn 1997).High level debt increase governments disincentive to carry out reforms. As supported by Corden (1998) and Johansson (2010) that high level of debt makes economic reforms less advantageous and slows down growth because in the presence of debt overhang the growth-enhancing reforms intensify the pressure to repay foreign creditors than fuelling the growth and improving social services.Therefore when a country suffers from debt overhang, debt relief has the potential to improve economic efficiency. This can be possible by reducing the debt stock the reduction will then spill-over its effects and reduce the debt overhang. This will then prevent the disincentive suggested.Cohen (1993) suggested that, debt service payments crowd out investments in areas such as education, health and infrabody structure development which are direct as well as indirect impact on ec onomic growth. To help in facilitating growth debt relief frees resources which were tied up in debt servicing enabling government to reallocate the freed resources to more productive areas. Looking into resource mechanism in detail it is evident that not just debt relief might bring about the growth due to the freed resources but other factors such as the magnitude of the relief or forgiveness, government investment decisions of the freed resources, revenue collection, parvenue borrowing, and aids have impact on growth. As supported by Cassimon et al (2008) that since the creditors give debt relief to countries facing repayment difficulties, the resource mechanism might not create a greater fiscal space to help investment.The impact of debt relief or forgiveness on growth might be limited due to moral hazard or adverse selection (Johansson, 2010). This is because with the idea that the debt will be forgiven or relieved in future, borrowers will be encourage to take up excessive am ounts of new loans, expecting that it will be forgiven when the country is in repayment difficulties (Easterly, 2002). This will push countries to rise up new loans even if there are no productive investment opportunities.In adverse selection case, creditors give relief to countries which face payment difficulties and not the ones that are willing and able to increase their investment. A country in this situation might be faced by factors such as rent government, political instability or interest group polarization reflecting the high discounting toward the future (Easterly, 2002).He pointed out further, for the debt relief to have a positive impact on growth, good institution and governance is inevitable. This was also supported by Robinson, (2001) and Subramanian, Trebbi, (2004) because countries with better institutions and government invest more in physical and human capital and make efficient use of the resources to achieve higher growth. In absence of good institutions and go vernance the freed resources would not translate to productive investments.Empirical Literature polish upDebt overhang, investment and GrowthMilton Iyoha (1999) used macroeconometric model to facilitate the simulation of the impact of external debt in economic growth in Sub-Saharan Africa. With the use of synchronous equation models for output and investment demand he was able to conclude that, there is a significant debt overhang and crowding out effect in Sub-Saharan Africa. In other words, the large stock of external debt and heavy debt service payments had a depressing effect on investment in SSA.He went further in simulating the implications of the debt reduction packages on economic growth. Upon simulating at different debt stock reduction levels he lay down that the hypothesized debt reductions assumed would increase investment and to a lesser extent the GDP on subsequent period. Simulations showed that a 50% debt stock reduction would have raised per capita gross domestic investment by over 40%, and increased GDP growth by over 3%, on average, during the 1987-1994 period.Chowdhury (1994) used a structural simultaneous equation model built to capture the interrelationship between public and private external debt, capital accumulation and production function. The models were constructed basing on the inter-relationship between the variables that is, some of the variables have feature of both independent and dependent nature. Using the Granger causality test on the data set for indebted developing countries in Asia and pacific, Chowdhury showed that, the Bulow-Rogoff (1990) proposition that the external debt of the developing countries is a symptom rather than a cause of economic slowdown is rejected. Also he further found that, the Dornbusch-Krugman proposition that external debt leads to economic slowdown is rejected. But a feedback-type relationship is not rejected for two countries.The estimated results indicate that the overall effects of the pu blic and private external debts on gross national product are small and of an opposite sign, where as an increase in the gross national product level raises substantially the public and private external debts. He argued that the positive estimates of the indirect effects of the public external debt on GNP obtained indicate that the capital flight generated by tax rise expectations is smaller than the contribution of public borrowing in financing investment in capital stock. Moreover, the direct and hence the full effects of the public external debt on GNP are positive and substantially large. An increase of 1% in the public external debt is likely to directly and indirectly raise the GNP level by 0.240% in the Asia Pacific countries.However, the adverse indirect effects of the external debt on GNP through lowering private investment and the overall level of capital stock are large in absolute value and substantially exceed the direct effect. Thus, the full effects of the private ex ternal debt on GNP are negative a 1% increase in the private external debt is likely to reduce the GNP level by 0.033% during the time of study.In his estimates also, the effect of GNP on capital stock is indirectly amplified by the positive effect of the public external debt on capital stock. The overall effect of GNP on capital accumulation is positive. The marginal product of capital is also positive and there is diminishing marginal productivity of capital.Since aggregating of data across countries imposes and identical structure on all country although sometimes there are greater differences between the studied countries. Therefore it is necessary to consider the case of each developing country separately so as to study the characters deeply and suggest policies specific for that country. It is under this consideration that the study will be conducted specifically to Tanzania to look specific characters of the relationship between external debt and economic growth and thereaft er answer the key question on debt relief and its impact on growth in Tanzania.Odegbite, E et al (2008) used two models to capture both linear and nonlinear relationship of external debt in economic growth in the study on the impact of Nigerias external debt on economic development. Based on the modification of Elibadawi, Ndulu and Ndungu (1997) model Odegbite investigated the impact of large external debt stock with its servicing requirements and resulting fiscal deficit on private investment. Analysis showed that the influence of export growth on GDP growth was confirmed with a significant statistics. This has supported what Edwards (1998) claimed on the positive role of export growth process by increasing factor productivity in Nigeria. Due to the existence of debt overhang and crowding out effect result shows that savings compresses output. It was evidenced that, a unit increase in debt burden as measured by the debt service to GDP ratio generates 185 units growth. However the s hortcoming of the model used is it considers the public sector gap only and ignores the BOP, it also takes government expenditures and revenue, interest rate and exchange rate as given.Barfour, O (1995), in his study on Ghana, argued that debt repayment inevitably imposes constraints on a debtor countrys growth prospective since it involves the transfer of resources to other countries. Therefore, in order to adequately appreciate the problem of indebtedness, itis essential to relate the debt with its repayments of some income resources generated by the debtor out of which the repayments could be made.Elbadawi et al. (1997) also confirmed a debt overhang effect on economic growth using cross-section regression for 99 developing countries covering SSA, Latin America, Asia and Middle East. Three direct channels in which indebtedness in SSA works against growth was identified, this include the current debt inflows as a ratio of GDP (which stimulate growth), past debt accumulation (captu ring debt overhang) and debt service ratio. The indirect channel works through the impacts it has on the other channels on public sector expenditures. Empirical study shows that direct nonlinear effects of debt on growth was presented in a fixed and random effects panel estimates of a growth regression in which debt to GDP enters both in linear and quadratic form. The results imply growth maximizing debt to GDP ratio of 97 percent, which is quite high considering the average debt to GDP ratio of 70 percent Pattillo, C (2002)By linking debt and growth problem to capital flight in a intercoursely simple model, Calvo (1998) urged that, high debt is associated with low growth since a higher distortionary tax burden on capital is required to service the debt, leading to a lower rate of return on capital, lower investment and growth. busted debt regimes have high growth for the opposite reasons. In intermediate ranges of debt, however, the effect on growth is indeterminate. The mechanis m behind the possibility of multiple equilibria is a antonym causation from growth to the tax burden if the economy grows more slowly, then the tax rate necessary to obtain enough resources to repay a given debt will have to be higher and vice versa Pattillo, C (2002).Taking in to account the direct as well as the feedback effect of debt in his analysis of the impact of foreign debt on growth in Tanzania Mjema (1996) used simultaneous equation models. In his results he proposed that the impact of the debt service ratio on real growth in GDP is negative. However the effect of external debt found to be positive as it facilitates the growth although the negative force is greater and therefore outweigh the positive effect of debt. Amoating and Amoaku-Adu (1996) urged if a greater proportion of export revenue were used to service external debt, then little foreign exchange would be available for investment and growth. This shows an inverse relationship between debt servicing and investm ent and growth (Gedefa, J. 2002)A number of other studies have found the existence of debt overhang and crowing out effect in SSA when studying the relationship between debt vis a vis economic growth, investment, capital flight just to character reference a few. However, most of the studies are mainly based on data across countries in disregard to each countrys uniqueness. While the findings are quite revealing, there is need for case-by-case in depth studies in view of each countrys unique characteristics.Debt ReliefOn reviewing a two decades of debt relief Easterly, W (2002) conducted a study aiming at answering the key question as to why did HIPCs became very indebted. Using a sample of 41 HIPCs as classified by IMF and World Bank, he found that despite their poor policies, HIPCs received more than other LDCs. He found that between 1989 1997 a total of US$ 33 billion were forgiven while their respective borrowing was US$41 billion, this shows a close association that the debt r elief will be met with an equivalent amount of new borrowing. Upon running the regression for the 40 HIPCs with complete data he found a statistically significant association between average debt relief as a percentage of GDP and new net borrowing as percentage of GDP, one percentage point of GDP higher debt forgiveness translated into 0.34% of GDP new net borrowing.Going further in his analysis Easterly showed that, the average levels of current account deficits, budget deficits, real valuation and other policy indicators were worse for most HIPCs. HIPCs also were worse on the broad measure of policy which includes not only a rating of policy stance but also the institutional quality like the prevalence of corruption. One of explanation of the HIPCs heavily indebtedness is they suffered adverse terms of trade shocks, and wars which destroy countries productive assets.The findings imply that the substantial reduction in external debt projected for the countries participating in the HIPC Initiative would directly add 0.8-1.1 percent to their per capita GDP growth rates. Indeed, the positive effects of debt relief may already be reflected in some of the healthier growth rates achieved by these countries in the past few years relative to their poor performance in the 1990s. (Annual GDP growth averaged 1.2 percent in 2000-02, compared with 0.2 percent during the 1990s.) Clements, B et al (2005).BIBLIOGRAPHYAmoating, K. and Amoaku-Adu, B. (1996), stinting Growth, Export and External Debt causality The bailiwick of African Countries, Applied Economics, 28, pp 21-27Barfour. O. (1995), Ghana The Burden of Debt Service Payment Under Structural Adjustment, African Economic Research Consortium Research Papers, No 8, slope press Limited, Kenya.Bulow, J. and Rogoff, K. (1990), Cleaning up Third World Debt Without Getting Taken to the Cleaners, The Journal of Economic Perspective, 4(1), 31-42Chowdhury Khorshed (1994), A Structural Analysis of External Debt and Economic Gr owth Some Evidence of From Selected Countries in Asia and Pacific, Applied Economic, 26 (12).Claessens, S. and Diwan, I. (1990), Investment incentives New Money, Debt Relief, and the Critical Role of Conditionality in Debt Crisis, The World Bank Economic Review, 4(1).Iyoha, M. A. (1999), External Debt and Economic Growth in Sub-Saharan African countries An Econometric study, African Economic Research Consortium Research Papers No 90, English press Limited, KenyaMjema, G. D. (1996), The Impact of Foreign Debt Servicing in the Economy of Tanzania A Simultaneous equation approach, African Journal of Economic Policy, 3(1).

Beauty in Hong Kong

Beauty in Hong KongIntroductionThe definition of beauty is not both(prenominal)thing objective or immanent because great deal from contrasting place, age or social class may form its own ideal of it. The ideal beauty is analogous with peoples aesthetic tint at that respecting duration. In our modern society, human body is the peerless of the virtually important components used to determine the enchantingness or beauty of a person. besides for sure, there is not a definite answer for an ideal body type due to the heathen difference and historical discrepancy among countries and places. In this essay, discourse provide focus on the ideal body types for men and women in Hong Kong and how these ideal body types are shaped by mass media, technology and medicine. Besides, establish on Sandra Bartkys findings, impact of body modification on individuals exit be analyzed.Ideal body type in Hong KongAs Hong Kong was ruled by Britain in the last century, it is at the cultural borde r between traditional Chinese and western culture. Possessing this unique perception, Hong Kong interpretation of ideal body type is a mix.Ideal body type for menMuscularity is undoubtedly one of the criteria for ideal body type for men in Hong Kong. It is usually represented by bullocky muscular arms, a large firm chest, a refined waist and board shoulders which are found to be alluring to female. Waist-to-chest ratio would be one of the indicator for men to train up their body. The smaller the ratio, the much muscle is concentrated on the upper part of the body and abdomen, generally considered as V-shape. In the eyes of most female, it is considered as a perfect body shape. At the same time, a sporty and athletic feeling will be delivered, big(p) others a message that this person is healthy and self-disciplined. With the masculine body, female believes the person has the ability to protect her and feels safer. Thus, men with a muscular body is so attracting in Hong Kong.Heigh t also plays an important role on the ideal body type in Hong Kong. It is often measured by the volume height superpower (VHI). According to the research done by Hong Kong Polytechnic University1, VHI alone can explain ca. 73% of the variance of male body attractiveness ratings. The optimal VHI will be at 17.6 l m2 and 18.0 l m2 for female raters and male raters, respectively. It shows that for men who are muscular, it would be better to be taller due to their large volume. One of the reasons behind is that most female would like to have a male partner taller than her, feeling that the man should be adequate to(p) to protect her.Ideal body type for womenInfluenced by the western culture, people believe that women ideal body shape should be slim. So they might count keeping fit as a mission or a life-long goal. The thinner they are, the to a greater extent attractive their body shape. The perception of beauty can be measured by waist-to-height ratio, which is an important determin ant. Generally, the Ideal waist circumference = height x 0.382. Moreover, they perceive thinness as a sign of independence, strength and accomplishment, which affect that they are fashionable. The attraction for a proportionate body also affects an appeal for erect posture.Apart from the body mass, women with large, firm and symmetrical breasts are considered as attractive as well. Some studies show that most men enjoy the sight of female breasts.2 According to the findings from the New Zealands University of Wellington, men constantly spent more time looking at the breasts of female posed in front of them and showed more fascination on females breasts than their head. This culture has penetrated Hong Kong thoroughly, leading a proliferation of medical treatment center provided with chest implant surgery.Affected by traditional Chinese culture, men in Hong Kong consider wide hips and firm foundation as sexually attractive body type, which indicates a better ability of fertility. A lso, wide buttocks of women are a strong implication to men that she is very much capable of reproduction. On the other hand, women with wide hips are particularly more tempting to man when they are walking due to their shaking buttocks, flush if the women do not meant to shake it. It can be appearn that large buttocks are really important to determine the attractiveness of women in the perspective of cultural and sexual sense.Perpetuation of the concept for body typePeople are not born with an innate sense of what is beautiful or not. They learn some cultural and social standards through a process of socialization. These beauty standards are cultural creations.Mass mediaFrom a very young age, children start to learn what is most valuable in their culture for sex through mass media. By watching cartoons, they learn that girls should be princesses dressed in pink tiaras with a slim body, while boys should be princes who are muscular, tall and able to protect their partners with th eir strong arms. Being instilled these values at such an early age, it is not surprising to see that the definition for beauty has changed, focusing on the body shape of people.On top of the early inculcation, the mass media is doing a remarkable job of making people feel badly about themselves. Through advertisement in different channels, such as free-to-air TV broadcasting, radio and so on, the ideal body types for men and women are presented to the public. These advertisement bombard people with these ideal images by repeatedly brain-washing, internalizing peoples cultural values and ideals of appearance. By then, people become more dissatisfied with themselves3. The purpose of the mass media is to create body dissatisfaction, leading people to spend enormous amounts of money, time, and energy to fix the flaws.Besides, the print media, such as magazines, reinforces the persuasion of the ideal male and female bodies through constant barrage of slender, scantily clad women and musc ular half-naked men. As people, especially youngsters, in Hong Kong give lots of reliableness and credibility to many of the popular magazines. They read them every day, using them as signifiers of what is cool and hot. According to the findings from Benjie Achtenberg Macalester College4, students mentioned in their journals that they read the magazines and enjoy seeing the images because their deary celebrities were featured. It shows that print media is influential which acts as a platform to perpetuate the aforementioned ideal body types for men and women.TechnologyWith the advancement of technology, more burden sacking methods are introduced. For example, non-invasive surgery, such as CoolSculpting mathematical process5 is invented to freeze away patients fats and reduce the number of fat cells in the treated areas. Unlike weight loss surgery this procedure is lasting longer and safer because once the fat cells are eliminated, they are gone for good. Apart from that, gastric bypass is a surgery that also helps lose weight by minimizing the stomach and small intestine. Undoubtedly, the innovation and advancement in technology can bring a safer and better experience for people to reduce weight. It will therefore attract more people to pursue a slim body shape under the improvement. These social standards are gradually implanted to people, internalizing their thoughts. euphonyHong Kong people, as an Asian, usually have an enlarged masseter muscle, one of the chewing muscles, causing a squaring of the facial shape. To maintain an ideal V-shaped face, it is popular for people to undergo botulinum toxin A injections. It shows that the more medicine is available for maintaining a perfect body shape, the more people would do so due to the easier access to modern beauty.1 http//rspb.royalsocietypublishing.org/content/272/1560/219.short2 http//www.stuff.co.nz/the-press/ intelligence agency/2845918/Men-have-an-eye-for-womens-breasts3 http//www.jeatdisord.com/cont ent/1/1/144 https//www.macalester.edu/educationreform/actionresearch/Achtenberg.pdf5 http//www.coolsculpting.com/the-coolsculpting-procedure/what-is-the-coolsculpting-procedure/

Platos Meno Essay -- essays research papers

The dialogue opens up with Meno asking what virtue is and whether it could be taught. Socrates asks Meno for a general definition of virtue, since as Socrates points out, we can non figure out if virtue can be taught if we do not have a clear idea what it is. Socrates is looking for a general, or formal definition of virtue, not just examples or instances of it. Socrates wants to be intimate what all the examples of virtue have in common. He wants to know the essence of virtue. Meno initially offers a list of virtues, but Socrates rejects this as a sufficient account. Meno similarly states that there are different virtues for everyone. The virtue of a man is to order a state and the virtue of a woman is to order a household. I believe that virtue can be found in everything, good, bad, or ugly. Meno makes an interesting point. How will one know when they find virtue if they do not know virtue? The Socratic paradox is Socrates visible claim that virtue is a kind of knowledge, and vi ce a kind of ignorance. It is a paradox because hoi polloi usually think a person can know the good and still fail to do it. That is, people usually think that virtue is much than a matter of knowing, it is also a matter of willing. Socrates says that if virtue were knowledge, then anybody who really knew the good would automatically be good. Indeed if Socrates is right that virtue is knowledge, it would be impossible to know the good and not to be good. For example, Christians know s...

Womens Right to Vote :: American America History

Womens Right to VoteAfter reading Francis Parkmans article, Women Are Unfit to Vote, I found myself both offended and annoyed. His arguments were non moreover shaky, tho they were also illogical. He states that the family has been the political unit consequently, the mental capacity of the family should be the political representative. He goes on by stating that women have shared amiss in the traditions and not in the practice of self-government. Lastly, he suggests women might vote that men should go off and fight in war. Not only are these statements wrong, but they are very much so offensive. Women are humans, too, and they should be treated how a man is treated. We are, after all, of an equal race, so why do we women not get the right to vote? In my opinion,this question cannot be answered logically. Many reasons can contradict Parkmans statements included in his article, and I plan to do so. To arising with, Parkman declares that the family, and not the individual, has bee n the political unit, and the head of the family... has been the political representative of the rest. He is saying that the men are the head of the family therefore, they should be the ones that vote. But what if the head of the family is a woman? Lets say, for example, the husband dies unexpectedly, leaving the woman behind to raise the children and take the position as head of the family. Does she hence get the right to vote? Or do we simply deny her that right because she is a woman? According to Francis Parkman, the head of the family is the political representative, and no where in that statement did he once specify the head of the family could not be a woman. Therefore, as long as the woman is the head of the family, they should be granted the right to vote. Many circumstances in ones intent may cause them to become, without notice, the head of their family. As quick as they become the new head, they should then be allowed to vote just as quickly. If they are denied that r ight, then Parkmans statement is false. The head of the family should not be limited to just being a man, and neither should the right to vote. Parkman follows by commenting that they women have shared very imperfectly in the traditions, and not at all in the practice of self-government.

Psycho-Social Theory and Nursing Care Essay -- Nursing Healthcare

Owing to significant research into the sexual relationship between physical, psychic and social conditions, an awareness and understanding of psycho-social aspects in health attention is vital (Walker et al, 2007). Those aspects are particularly important in nursing care, where an individual should be considered as the entire person with a need for physical, psychological, social, emotional, intellectual and even spiritual wellbeing (Holland et al, 2008). This essay will address psycho-social theory of health beliefs and attitudes in relation to nursing care. The essay will begin by considering how health beliefs lead to health behaviours. It will then discuss how theoretical models contribute to nursing care and their usefulness and importance in applying the theory to nurse patients. As the largest force in health care, nursing profession is considered to be in a alone(predicate) position to facilitate health promotion and disease prevention. Nurses spend considerably more time with patients in comparison to other healthcare professionals and as such, they tending patients in managing their own health. The fundamental requirement in providing this care is to ensure that individuals remain as independent as possible through encouragement and empowerment. in that respect are number of factors to be considered in delivering this care effectively. In view of cultural, socio-econo(prenominal)ic and educational diversity amongst us, it is difficult to define health or indeed affection. As our perceptions differ, so do our interpretations and possible meanings of those words. The World wellness Organisation (WHO), 1948, states that Health is a state of complete physical, mental and social wellbeing and not merely the absence of disease or infirmity. Although positive, the def... ...arlow.Shaw, C., Brittain, K., Tansey, R. & Williams K. (2008) How people decide to seek health care A qualitative study. International Journal of nurse Studies, 45 (10), 1516-152 4.Sully, P., & Dallas, J. (2005) Essential Communication Skills for Nursing. Edinburgh Elsevier Mosby.Walker, J., Payne, S., Smith, P., Jarrett, N. (2007) Psychology for Nursing and the Caring Professions. 3rd. ed. Glasgow McGraw Hill.World Health Organisation (1948) WHO Definition of Health - Preamble to the Constitution of the World Health Organization as adopted by the International Health Conference, New York, 19-22 June, 1946 signed on 22 July 1946 by the representatives of 61 States (Official Records of the World Health Organization, no. 2, p. 100) and entered into force on 7 April 1948 at http//www.who.int/about/definition/en/print.html. (accessed 02 December 2010).

The Physics of Flight Essay -- Airplanes Aerodynamics Science Essays

The Physics of Flight The trials and tribulations of flight have had their ups and downs over the course of history. From the many who failed to the few that conquered the thought of flight has always astonished us all. The Wright brothers were the kickoff to sustain flight and therefore are credited with the invention of the airplane. John Allen who wrote Aerodynamics The Science of Air in Motion says, The Wright Brothers were the supreme example of their date of men gifted with practical skill, theoretical knowledge and insight (6). As we all know, the airplane has had thousands of designs since then, but for the most part the physics of flight has remained the same. As you can see, the failures that occurred while trying to fly only prove that flight is truly remarkable.Flight uses four world powers lift, weight, thrust, and drag. In a nutshell so to speak, an airplane moldiness create enough lift to support its own weight. Secondly, the airplane must produce thrust to prop el itself. Finally, the aircraft must overcome the drag or the obligate of resistance on the airplane that is moving through the air. All four of these forces are vital and necessary for an aircraft to move, takeoff, fly, and land.Wings create lift for the upward force of an airplane. A great example of how this happens is sticking your hand out of a car window driving down the freeway. The force on your flat laurel causes a force that can lift your hand up or down by changing theangles of your wrist. Another way to explain this is by the apprehension of the Bernoulli Effect. According to Kirkpatrick and Wheeler authors of Physics A World View, the fantasy of lift is due to the Bernoulli Effect. They state The upper surfaces of airplane wings are curved ... ...e in any one of these forces leads to a change in the others (139). A pilot can use many different controls and means of propulsion to change and assure the balance of these forces. By doing this the pilot is able to cha nge their speed and change their direction. The Physics of Flight are truly unbelievable occurrences that create amazing effects. Without the concept of flight we would live in a totally different world. Works CitedAllen, John. Aerodynamics The Science of Air in Motion. London Granada Publishing Limited, 1982.Kirkpatrick, Larry, and Gerald F. Wheeler. Physics A World View. 4th ed. Orlando Harcourt College Publishers, 2001.Shevell, Richard. Fundamentals of Flight. New Jersey Prentice Hall, 1989.How an Airplane Flies, Microsoft Encarta Online Encyclopedia 2003http//encarta.msn.com 1997-2003 Microsoft Corporation.

Is the European Monetary Union a disaster? ? Discuss Essay examples --

AbstractThis essay evaluates the development of the emu a system that only came into moment three years ago. Through the lack of recent literature most of the evidence are derived from articles of various sources.The essay takes into consideration that the EMU is embedded in a generally declining world economy. It illustrates why the EMU did not reach their targeted goals immediately and points out shortcomings in the architecture of the EMU in the Maastricht Treaty that ought to be reformed. It takes the viewpoint that although since the introduction of the Euro there is an apparent recession in the Euro area countries, it is not entirely to be blamed on new currency and that the allegation that the EMU is a disaster is totally unfounded.For over thirty years now a European Monetary compass north has belonged to the articulated aims of the European Union. solely previous attempt to establish a Monetary Union, such as the so-called Werner- Plans in 1979 through the European Mon etary System (EMS), failed though. In 2002 the EMU finally was put into full effect. Now that the Euro- countries have experienced three years with the Euro, it is possible to make a preliminary assessment of the Euro. In set up to detect whether EMU is a disaster one has first to establish the meaning and context in which the term disaster is used in relation to this question. The Oxford Dictionary defines the term disaster as a complete failure . In accordance to this definition one would expect the European Monetary Union to have an utter negative invasion on the Euro countries, this could include a weak currency and business activity, a high inflation rate, a refusal of betrothal of the new currency from the citizens and a counter effect on the aim towards deeper European integration. In order to fulfil the aims of this essay, it will try to analyse the impact of the introduction of the Euro with the following criteria first, it will outline the intentions for the introducti on of the Euro and the advantages economist and member states had hoped to gain from it. Next, the essay will look at the reaction the Euro has caused in the scotch and business cycles of the euro-area states and assess the capability of the European Central Bank (ECB) to deal with economic fluctuation. The next step will be to analyse the reaction of the earthly concern to th... ...bspEuropean Central BankEMUEuropean Monetary UnionGDPGross Domestic ProductHCIPHarmonised Index of Consumer PricesSGPStability and reaping PactBibliographyPearsall, J. (ed.) (1999) The Concise Oxford Dictionary ( Tenth Edition) Oxford University Press, Oxford. Hankel, W, Nlling, W, Schachtschneider K, Starbatty, J (2001) Die Euro-Illusion, Ist Europa noch zu retten? Rowohlt Taschenbuch Verlag, Hamburg The Economist Rules are made to bend, arent they?. Jul 25th 2002Stierand, H ( 2002) Geldpolitik im Europischen System der Zentralbanken (ESZB), Winkler Verlag, DarmstadtRenne, B (2001) Die Europische W irtschafts und Whrungsunion zwischen Anspruch und Wirklichkeit ( The European Economic- and Monetary Union between expectations and reality) Peter Lang, FrankfurtStierand, H ( 2002) Geldpolitik im Europischen System der Zentralbanken (ESZB), Winkler Verlag, Darmstadtwww.bis.org/review/ r021122b.pdf