Fundamental Change of American Society

The American War for Independence was brought on due to the subconscious aversion to British control. Americans increasingly wanted nothing to do with Great Britain and developed different societal Ideas from them constantly. America was growing as a nation, but to grow even further, they needed liberation from the Crown. Patriots took supremacy over all Tories in favor of the Crown and the rest of those remaining impartial.They felt strongly about getting rid of British existence by he time the war had commenced, and in 1779, a newspaper stated, â€Å"Instantly banish every Tory from among you†¦ [And] send them to the Island of Britain† (Doc. B). Because of the war, American society was changed in numerous ways. American fundamentals were altered by the American Revolution in regard to class differences economically, the growing trend of a strong central government politically, and the granting of more freedoms socially.Before the war, America's economy was controlled by Britain's mercantilist system; therefore, America was comprised of farmers in the south and merchants in the orth. Without the mercantilist system, disputes arose on whether the new country should be based primarily on agriculture or manufacturing and trade. Those In favor of the Jeffersonian idea believed that farming was, indeed, a very important occupation (Doc. F). Thomas Jefferson, a Democratic-Republican, believed farmers were so virtuous because they were economically independent and were self- sustaining.Because of the new land ordinances, there was plentiful land for farming utilization, too. Alexander Hamilton, a Federalist and first Secretary of the Treasury, n the other hand, believed that imports and exports was the best way to better the economy and develop as a country. He also pressed for a national bank to stabilize and Improve the nation's credit, whereas Hamilton was strongly opposed as he sought a more stately-governed nation. The post-war economy gave the citiz ens many hardships, though, and there was serious civil unrest in some areas (Doc. G).The classes differed in America greatly due to the poor economy, making a huge gap between the rich and the poor. Rebellions arose, including the Shays Rebellion, hich took place In Massachusetts from 1786-1787. It occurred because of the financial diffculties the lower-class people were going through, the lack of credit in the new paper money, and harsh policies to decrease the debt. A militia had to be formed instantaneously and the government power eventually won, but It showed that a strong military was needed for the government to be successful and reduce the amount of rebellions.Under the Articles of Confederation, the American government had little success. Federalists and Anti-Federalists existed, where Federalists generally pursued a strong entral government as the Ann-Federalists wanted the opposite. The Articles of Confederation gave a state-supported government, but It wasnt successful In many ways. There were many rebellions arising due to the weak government as a new 1 OF3 nation, so tne Idea 0T a strong central government Degan to arlse . Ine reaerallst papers addressed many aspects of why the Constitution should be ratified.The main ideas included the following: including the fact that a strong government would better defeat the rising up of factions and other rebellions. The Annapolis Convention occurred in 1786 and resulted in a call for a Constitutional Convention. In September of 1787, the Convention took place to revise the Articles of Confederation, but Alexander Hamilton and James Madison schemed to propose a new government all together: the Constitution. James Madison's main idea resulted in the Virginia Plan with a very powerful, proportionate bicameral legislature, an executive, and a judiciary.After the Constitution, the paper Federalist No. 51 was published in February 1788 and created by Madison to get across to the people the structure of he gove rnment planned by the Constitution Convention. The main ideas were: dependency and encroachment to assert that each department should be as independent as possible, the legislature to assert that it is the strongest branch with equally powerful individual branches, usurpations and security to guard from usurpations because it is divided into distinct and separate departments, and factions to end any political uprisings.Basically, the Federalist Papers advocated a means by which checks and balances can be created and a separation of powers. The government had more power than the Articles of Confederation now, but Madison still feared the Constitution gave too limited of federal government power (Doc. l). Since the Constitution was implemented, the Federalists and Ann-Federalists were now disputing about loose and strict interpretations of the document. For example, if a law came about that wasn't specifically stated in the Constitution that the Federalists wanted, the Anti-Federalist s deemed it unconstitutional.The Federalists argued that if a law was not expressly stated against, the law was constitutional. From being a divided, state-governed nation under the Articles of Confederation, to a united nation under the U. S. Constitution, the United States was now under the control of a strong central government and on the road to being one of the most powerful countries in the world. During the American Revolution, many social changes were brought about. In the war, women were taking part in activities that men typically only performed.Deborah Sampson was one of the women that participated in the war to assert her importance as a woman. She disguised as a man in order to serve in the Continental Army. Other women who were said to participate in battles were given the nickname â€Å"Molly Pitcher. The phrase â€Å"Patriot Woman† came into existence, and before the war, both terms were always separated (Doc. A). Daughters of Liberty used their home skills t o create a home manufacturing system for all the soldiers to support the war. Molly Wallace stated her claim that since women were allowed to read, then they should be allowed to speak (Doc.J). She wanted for women's voices to be heard since they were just as educated and active as men in society. Unfortunately, this speech signified that, although women contributed very much in the war, women's rights were not significantly changed. As far as Native American relations, they were hoping to have peaceful relations with Americans since the King told them to â€Å"take [the Americans] by the hand as friends and brothers† (Doc. C). The Native Americans were not included in the Treaty of Paris of 1783, however, as the United States were making pollcles 0T separate treatles wltnln trlDes.I ne Natlves were quite apprenenslve, ana they stated, â€Å"we thought that [the treaty's] conclusion would have promoted a friendship between the United States and the Indians† (Doc. E). T he whites were moving west now, as the Proclamation Line of 1783 was eliminated (Doc. H). The Northwest Ordinance was declared to let the Americans move westerly as long as they did not bring any slavery into the areas with them. The Indians were in no place mentioned in the laws of the Northwest Ordinance and were again trying to be disregarded by the Americans.On the other hand, the northern slavery opposition started growing even more, which was a huge step in social change for the blacks. They were also accounted for in Congress due to the Three-fifths Compromise allowing the slave population to be represented in the southern states in the House. Religious freedom came about as well during the American Revolution as the Virginia Statutes stated, â€Å"no man shall be compelled to frequent or support any religious worship, place, or ministry whatsoever† (Doc. D).This promoted religious diversity in the United States; thus, encouraging the American Identity. The First Amend ment of the Bill of Rights also established freedom of religion, as well as freedom of speech, the right to assemble, and freedom of the press. These new freedoms escalated to the fundamental idea of a free country. The fundamentals of American society were changed by the American Revolution. Economic change in class differences, political change in the strong central government trend, and social change in the spreading idea of freedom.Egalitarianism was an overall change in the society, too, meaning everyone is equal. The main effect of the revolution was a new strong federal government brought about by the Constitution, which gave everyone equal rights. This is a main foundation for the United States of America's prospering. Without the ideal of equal rights for all, America would be a completely different society all together, without â€Å"life, liberty, or the pursuit of happiness. â€Å"

A Black Family: Before and After Emancipation of the Slaves Essay

Before the emancipation of the slaves, the African-American family was hard pressed to stay together. Slave marriages were not recognized by any of the southern states in a court of law. However many of the slaves masters recognized and encouraged marriage. But is was this was only for economical purposes, not because they cared about the happiness of their slaves. When the slaves were married they would then have children, who would then in turn become slaves the their parents’ master. But even though the slave masters wanted marriages, and consequently more slaves, if the opportunity presented itself, then they would sell the slaves, and split families. Separation of family members was a constant fear for the slaves. This is why the slaves started calling themselves â€Å"aunt† and â€Å"uncle†, so that no matter where they were they would always have a family feeling around them. Emancipation allowed families to become stronger and sturdier for the African-Americans. The African-Americans who had married themselves, sought for legal marriage. Many African-Americans searched high and low for their family that they had been separated from. This happened all the way up to the 1960’s. Another key change in the African-American family after emancipation was that the roles of the husband and the wife started to differ. The African-American males insisted that their wives stay home, while they would go and work. After emancipation the African-American family chose when and where to work, instead of being told by the old white masters. See more: Analysis of Starbucks coffee company employees essay Citations: 1. Wikipedia: Thomas Sowell, Affirmative Action around the World, 2004. Basic Books. pp. 115-156 Wilder-Hamilton, Elonda R. (2002). â€Å"Uncovering the Truth: Understanding the Impact of American Culture on the Black Male Black Female Relationship†. The Black Agenda. Archived from the original on 2008-04-07. Retrieved 2007-06-03. Martin, Elmer P. (1980). The Black Extended Family. University of Chicago Press.ISBN 0226507971. 2. Faragher, John M., et al. Out of Many. Upper Saddle River, New Jersey: Pearson Education, Inc., 2004.

Agrarian discontent dbq

Between 1880-1900, farmers believed that the railroad companies were swindling away their profits and that the government favored big business. The farmers had every reason to feel some sort of discontent because of their predicament as well as the fact that the government saw a need for reform which created the notion that problems existed. Farmers were correct in arguing that the United States’ money supply was not what it should be; over 30 years the population nearly double while the money circulation rose by only 60 %( Doc C). Railroads had a monopoly on shipping which raised costs and affected profit, the value of crops deflated, and big business was a strong opponent to the much needed Free Silver Movement that farmers were relying on. The first major topic regarding farmers discontent with their economic situation involves the shipping monopolies controlled by the railroad companies. The cost of transportation was spiraling out of control, there was never any certainty when it came to exactly what it would cost for a farmer to ship his crop. Profit became a scarcity with the cost of shipping amounting to much more than the worth of the crop (Doc H). The ridiculous demands of railroad companies can also be compared to the crop deflation that made it that much more difficult to provide for one’s family, the companies claimed that the operating expense of the railroads demanded such intimidating shipping costs (Doc G). Farmer’s were left exasperated and often had no choice but to foreclose on their farms because no profit was to be made, this can also be seen within the fact that the United States’ money supply was not what it should have been, over 30 years the population nearly doubled while the money circulation rose by only 60 %( Doc C). â€Å"All his calculations as to a profit on his little investment he had based on freight rate of two cents a pound. Good money never made times hard (Doc B). Secondly, Farmers also struggled economically due to the value of the crop deflating and the surplus of crop that they were creating. This sudden, drastic increase of the supply without any increase of demand correlates directly with the economic downfall of the farming class (Doc E). In accordance with this, Europe had been able to compensate for their populations growth agriculturally, therefore eliminating the United States as a needed source for food and plummeting the Farmers into a deeper economic depression. This information however does not discredit the validity behind their plea. Farmers acted circumstantially and gathered more crop in order to stimulate more revenue, they did not intend for the dilution of the agrictural marketplace both here in the United States, as well as in Europe. Finally, there appeared to be a solution to the Farmers problems. The Free Silver Movement provided a way for those of a lesser income to stimulate their own revenue by converting their silver to gold. This would finally eliminate the Gold Standard and provide somewhat of an opportunity to farmers who were so desperately trying to recover from economic nothingness. It is mere pretense to attribute the hard times to the fact that all our currency is in a gold basis (Doc B) said William McKinley and with the institution of the Free Silver Movement his words would have done truth to Farmers. The supply of currency would no longer be used as a way to control those members who did not posses it (Doc A). In conclusion railroad companies, crop deflation, and big business created insurmountable barriers for farmers throughout the eighteenth century. There was little they could do to prevent the unavoidable fate; annihilation of any sort of economic success. The Farmers were no longer going to be slaves to the owners of monopolies and every effort made a difference in one way or another. (Doc D)

Compare the powers of the legislative branch to the powers of the Essay

Compare the powers of the legislative branch to the powers of the executive banch. which has more power today and why - Essay Example Currently, the executive wilds more power to those of legislative based on varied sensitive tasks, which its members normally perform without over consulting. The executive, having the office of the president as the highest embraces a key role US’ constitution and the entire state as a whole. Recently, it has seen an increase in its power attributed to the rise of financial economy which has weakened expansive parts of the liberal state. This has directly or indirectly given the executive additional powers in comparison to the legislative. This can be seen when the Federal Reserve extended about $1.2 trillion allocation to major banks. This was done by the executive exclusively without being passed through the legislative process (Gill & Cutler, 2014). The executive has continued to gunner more power due to support by supranational organisations such as the IMF and WTO (Gill & Cutler, 2014). In the recent years, these organisations have been dealing directly with the executive branch. In the earlier years, these organisations were key players in making and implementation of rules and laws. However, over the years, their influence and power grew influencing the growth of the executive powers. The organisations no longer deal with legislative bodies. This is a major boost to the executive powers (Gill & Cutler, 2014). The executive and its relation to global corporate economy has contributed directly and indirectly to the addition of executive powers. The global corporate economy plays hand in hand with global matters such as terrorism. After the 9/11 event, the legislative branch gave power to the executive after passing of the patriot act (Gill & Cutler, 2014). This act gave federal branches under the executive more power in order to curb any future threats. These federal branches have the power to enact and perform various actions without the approval of the legislative branch of the constitution (Gill & Cutler, 2014). In

How did the Spanish-American War change America's role in the world In Research Paper

How did the Spanish-American War change America's role in the world In what ways did America's global role stay the same after the war - Research Paper Example s—in extending our commercial relations—to have with them as little political connection as possible.†1 As a corollary to this principle of non-intervention, or isolationism, America remained steadfast in her support of the freedom struggles and democratic movements of other countries, but refused to become embroiled in war by â€Å"spreading our ideals throughout the world by force of arms.†2  This policy came to an end in 1898, with the Spanish-American War. The war originated in the Cuban struggle for independence from Spain that began in 1895. American public sympathy for the revolutionaries was exacerbated by the yellow press, reporting atrocities committed by the Spanish General, Valeriano Weyler. American investments in Cuba and the perception of the strategic importance of the island in Central America, led President McKinley to dispatch the battleship USS Maine to Havana, to pressurize Spain. The mysterious explosion of the Maine in February 1898 was attributed to Spain, and public outrage enabled McKinley to enter the Spanish-American War in April 1898. American victory was declared in August. Under the Treaty of Paris, in December 1898, Cuba became an American Protectorate under the Platt Amendment of 1902, Puerto Rico and Guam were received from Spain as indemnity and the Philippines was ceded to America after the Battle of Manila Bay, for $ twenty million.3 The repercussions of the Spanish-American War led to the annexation of the Philippines, which was made an American colony, after the suppression of the Filipino Insurrection, led by Emilio Aguinaldo. Intellectuals, like Senator Albert Beveridge, used the concept of ‘Manifest Destiny,’ to justify overseas expansion. Josiah Strong’s Our Country (1885), and Rudyard Kipling’s poem, ‘The White Man’s Burden’ (1899), based on ‘Social Darwinian,’ considered it the ‘duty’ of the ‘superior’ Anglo-Saxon race to spread Christian and Democratic values to ‘backward’ people.

The protection of historical and cultural heritage during the Essay

The protection of historical and cultural heritage during the urbanization process - Essay Example The consequences include not only losing irreplaceable treasures but also endangering the futre of the globe especially when it comes to natural resources. In this study, the Chinese City of Xi’an will be discussed with regards to the violation and destruction of cultural heritages as man pursues urbanization.With the rapid development of economy and technology, the pace of urbanization accelerates greatly, and Xi’an has been feeling the effects of human invasion. During urban construction and development, it is important that the relationship between modernization and cultural [historical ] conservation is handled correctly to avoid the detrimental implications that come with their violation or destruction. The Xi’an Muslim District is one of the key elements that make up the famous cultural city of Xi’an, and also one that has been facing great challenges as urban development approaches it. The Muslim District is composed of about 54 hectares of ancient (traditional) housing of the Hui people. It is one of the key areas protected by the Historic and Cultural city Preservation Plan of Xi’an Year 1995-2020. The district bears important heritage for the Chinese and particularly the Muslims in that the housing, including seven mosques, as well as land, date back to hundreds of years. However, recent â€Å"redevelopment† plans have been rumored, proposing that the ancient low housing be â€Å"revamped† to better urban housing (Vinsrygg 92). If Grunwald’s example is anything to go by, it is important that the Chinese government should not implement such proposals because once the redevelopment is done, the Muslim heritage that has existed in the Xià ¢â‚¬â„¢an District will be destroyed. Therefore, it would important for people to stand against such forms of urbanization because culture, once destroyed, can never be repaired. One of the worst violations

Raising Capital in the Financial Markets Essay Example | Topics and Well Written Essays - 1500 words

Raising Capital in the Financial Markets - Essay Example Total equity capital of a company is divided into equal units of small denominations, each called a share. The company and merchant banker are however required to give full disclosures of the parameters which they had considered while deciding the issue price. There are two types of issues one where company and Lead Merchant Banker fix a price (called fixed price) and other, where the company and the Lead Manager (LM) stipulate a floor price or a price band and leave it to market forces to determine the final price. (Thompson 27) Primarily, issues can be classified as a Public, Rights or Preferential issues (also known as private placements). While public and rights issues involve a detailed procedure, private placements or preferential issues are relatively simpler. The classification of issues is illustrated below: Initial Public Offering is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuer's securities. An Initial Public Offer (IPO) is the selling of securities to the public in the primary market. It is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuer's securities. An Initial Public Offer (IPO) is the selling of securities to the public in the primary market. It is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuer's securities. The sale of securities can be either through book building or through normal public issue. A follow on public offering (Further Issue) A follow on public offering is when an already listed company makes either a fresh issue of securities to the public or an offer for sale to the public, through an offer document. Rights Issue Rights Issue is when a listed company which proposes to issue fresh securities to its existing shareholders as on a record date. The rights are normally offered in a particular ratio to the number of securities held prior to the issue. This route is best suited for companies who would like to raise capital without diluting stake of its existing shareholders. A Preferential issue A Preferential issue is an issue of shares or of convertible securities by listed companies to a select group of persons which is neither a rights issue nor a public issue. This is a faster way for a company to raise equity capital. The issuer company has to comply with the all the regulations and the requirements laid down by the appropriate agencies pertaining to preferential allotment in Financial Market guidelines which inter-alia include pricing, disclosures in notice etc. Courtesy : Dyjan A "All About Money "page-52 Issue price The price at which a company's shares are offered initially in the primary market is called as the Issue price. When they begin to be traded, the market price may be above or below the issue price. Market Capitalization The market value of a quoted company, which is calculated by multiplying its current share price (market price) by the number of shares in issue is called as market capitalization. Listing of Securities Listing means admission of securities of an issuer to trading privileges on a stock exchange through a formal agreement. The prime objective of admission to dealings on the exchange is to provide liquidity and marketability

Cultural Literacy Essay Example | Topics and Well Written Essays - 250 words

Cultural Literacy - Essay Example Firstly, it multiplies access to practices, ideas and people that can make positive contributions to our societies. Secondly it helps us understand ourselves more deeply. The knowledge of language makes one understand and use values and beliefs of a particular culture in the manner that the norms of that society demand as seen in the use of idioms, proverb and allusions. On the other hand, knowledge of the languages of other cultures will also help individuals understand the beliefs and values of those cultures. For instance, the knowledge of English has made people whose primary language is not English to learn more about the English Culture starting with their origin, values, beliefs and use of technology. In this way, people are able to operate machines, use computers and other technologies by using the English language or so. The knowledge of language makes these people understand themselves better in their society and rate themselves about who they are in the face of other cultu res. They become aware of their own implicit beliefs and therefore adopt those that are legitimate. Again, cultural literacy has also unveiled shortfalls in certain cultural beliefs and values. Because of the knowledge of western cultures, many people, who initially got stuck in their very primitive cultural beliefs and values are now taking new life styles.

The Fog of War Documentary Research Paper Example | Topics and Well Written Essays - 2250 words

The Fog of War Documentary - Research Paper Example As the discussion stresses  McNamara served as the president of World Bank between 1968 and 1981.The Public policy system analysis which later developed into the recent discipline referred to as policy analysis was instituted by McNamara. After the Second World War, he contributed into reestablishment of the Ford Motor Company while serving as its president before becoming Defense Secretary. He became the company’s director in 1957 and its president in 1960.He was then requested by President John F. Kennedy to abandon his position in the company and serve as the Defense Secretary of the United States. He also served as a member of the board of directors in various corporations as well as non-profit making organizations. He has written documents on several issues and topics like world hunger, nuclear arms, relationships between east and west, the environment, population and development.This essay declares that  the film provides an analysis of McNamara’s controversia l issues in the course of Vietnam War, his contributions during World War II, his upbringing and educational background at Berkeley and Harvard and finally, his service as the president of World Bank for a period of thirteen years. The subtitle of the film is â€Å"Eleven Lessons from the Life of Robert S. McNamara†.  At the age of 85, Morris interviewed McNamara; the film was produced based upon that interview. In addition, the film contains television and new reports of 1960’s and cabinet photos during the reign of President Kennedy.... ysis of McNamara’s controversial issues in the course of Vietnam War, his contributions during World War II, his upbringing and educational background at Berkeley and Harvard and finally, his service as the president of World Bank for a period of thirteen years. The subtitle of the film is â€Å"Eleven Lessons from the Life of Robert S. McNamara†. During his study, he did statistical analysis with the aim of improving bombing strategies during World War II. At the age of 85, Morris interviewed McNamara; the film was produced based upon that interview. In addition, the film contains television and new reports of 1960’s and cabinet photos during the reign of President Kennedy. Information was recorded during Vietnam War, Cuban Missile Crisis, bombings of World War II, and air attacks against Vietnam to help in understanding what was going on during those periods. Some of the major contributions of McNamara are seen in the Vietnam War which caused deaths of over fif ty eight thousand Americans and 3.4 million Vietnam Citizens. Vietnam War was a conflict between the Northern part of the country under the support of communist countries against the southern part that was supported by the United States and other countries that were against the communist policy. The reasons for the United States’ engaging in the war was to prevent communism from further spreading while Vietnam government wanted to unify the country under a communist government (Morris 38). During World War II, McNamara acted as the commander under General Arch-hawk. He was among the group that came up with the decisions and bombed 67 cities in Japan during which large numbers of civilians were killed. For instance, in the city of Tokyo alone, more than one hundred thousand civilians died after the bombing

At the Brookly Museum, art helps show why black lives matter Essay

At the Brookly Museum, art helps show why black lives matter - Essay Example Resnikoff explains how some of the portraits of modern day black people provoke traditional images of medieval saints by placing them in medieval religious contexts. To support, the article refers to specific exhibits, such as the "Arms of Nicolas Ruterius, Bishop of Arras† and the â€Å"Mugshot Study†. He considers Wiley’s artwork as being similar to the ‘Black Lives Matter’ movement, which resists de-humanisation of black people and calls for racial justice. The article also refers to the differences in public view that the exhibition will provoke more public discussions of racial injustice and that it is too difficult to alter the deep-seated attitudes with one exhibition. The content of the article is relevant to the topic, which is how Wiley’s works of art on display at the museum provoke discussions among the public about the value of black lives. The choice of examples helps show how Wiley’s portraitures reinterpret traditional paintings and break the widespread images of black people. The article also refers to Wiley himself, for example, to show how the artist draws parallels between mugshots and the paintings of the 18th century. The article gives a broad review of the artwork on display by presenting the views of the author, the differing opinions of the public, and discussions of the features of specific works of art on display. References to public opinion balance the argument and evoke interest in the reader about the topic. Resnikoff, Ned. (March 2, 2015). At the Brooklyn Museum, art helps show why black lives matter. Aljazeera America. Retrieved from

Consent searches in the Fourth Amendment Essay Example for Free

Consent searches in the Fourth Amendment Essay The Fourth Amendment provides provisions that protect citizens from searches and seizures that are unreasonable. However, the individuals may waive their rights by consenting to searches. This essay is aimed at listing (Zalman, 2010), describing and explaining the rules regarding consent searches and providing a case study to illustrate the rules. When the court is called up on to determine whether consent was given for a search, it puts into consideration several issues. The first is that it considers the age, background and mental capacity of the subject. When the officer is seeking consent from the subject, he or she should not show weapons as that is considered to be coercive. In short, the officer should not use aggression to get the consent (Stephens Glenn, 2006). The other rule is founded in the case Monroe v. Pape (1961) and which is based on the time the consent is sought. The rule requires officers to desist from seeking consents at night. Attempting to conduct a search at night is seen as evil and in a most obnoxious form (Zalman, 2010). Conclusion In conclusion, the law provides a waiver for the rights of protection from searches and seizures and the Fourth Amendment. However, the rules that govern such a waiver are so strict such that, an officer may find himself in breach easily if care is not exercised. These rules cover issues such as the mental capacity, age, time of getting the consent and the manner of soliciting such consent. As mentioned, care has to be exercised or otherwise the search constitutes a breach. References Zalman, M. (2010). Criminal Procedure : Constitution and Society, Sixth Edition. Prentice Hall.Hess, K. Orthman, C. H., Cho, H. (2014). Introduction to Law Enforcement and Criminal Justice. Cengage Learning. Top of Form Stephens, O. H., Glenn, R. A. (2006). Unreasonable searches and seizures: Rights and liberties under the law. Santa Barbara, Calif. [u.a.: ABC-Clio. Bottom of Form Source document

Developing Yourself as an Effective Human Resource Practitione Essay Example for Free

Developing Yourself as an Effective Human Resource Practitione Essay The CIPD developed a map depicting the HR profession that signifies the skills, knowledge and behaviours needed by those in HR and Learning and Development professionals. The two inner core professional areas in the HRPM, Strategy Insights and Solutions and Leading HR, requires a deep understanding of the business activities, strategies and plans to drive business performance through the delivery of human resource strategy and solutions. Leading HR in particular focuses on the organisation requirements and that human resources employees are fully engaged, working collaboratively and all understand the drivers that create value within the organisation. Both of these core areas are to be reflected within all HR roles at any stage of a successful HR career regardless of location or working within an organisation or alongside one. The other 8 professional areas identify the knowledge and skills required within each band level to provide specialist HR assistance. There are 4 band levels, each band level signifies professional competence and is linked to the professional areas within said band level at every stage of the professionals HR career. To progress from one band to another there are three transitional pathways that identify what the professional must follow in order to progress. There are 8 behavioural areas clustered into 3 groups that identify how professionals at the relevant band level in their career need to carry out their duties and make a contribution to their organisations success. They include; Band One; Personally Credible; Builds a reliable reputation using experience and expertise and does so with integrity and in an objective manner. Collaborative; Works effectively with colleagues, customers, and individuals both within and outside of the organisation. Driven to deliver; Demonstrates a strong work ethic, consistent in their duties and take accountability for delivery of results. Plans, prioritises, monitors performance and holds others accountable for delivery. Band Two; Advises on and manager HR related issues and has a clear understanding of the evaluation process. Whilst at band two, the professional will demonstrates the Personally Credible and Driven to Deliver Behaviour Areas seen in Band One while also demonstrating other Behaviour Areas; Courage to Challenge and Skilled Influencer. Courage to Challenge; Shows confidence and courage to speak and challenges others when confronted with unfamiliar circumstances. Skilled Influencer; Demonstrates the ability to influence and to gain commitment and support form a wide range of diverse stakeholders for the organisation benefit. Band Three; Requires the professional to show a high understanding of the Behaviour Areas Courage to Challenge and Skilled Influencer. These are to be demonstrated at an expert level before progressing to the band level 4. The professional has the skills to lead in a Behavioural area and addresses key HR challenges at an organisational level. Band Four; Professionals are required to be an expert in their field, lead and manage the professional area or the organisational responsible for developing and delivering organisational and HR strategy. The professional is required to cover 3 Behavioural areas; Role Model, Curious and Decisive Thinker. Role Model; leading by example and implying sound personal judgement in all interactions. Curious; Demonstrates an active interest in the internal and external environment, shows a willingness to learn and active in the development of self and others and organisation levels and individual. Decisive Thinker; Demonstrates the ability to analyse information quickly and constructively to make defendable decisions using knowledge, experience and personal judgement. As a learner just starting out my HR career my experience and knowledge is limited and I believe to sit at Band One on the HRPM. Band One supports colleagues with administration duties and effectively manages data and is customer driven. The Professional Areas suited for Band One insure that all people within the organisation possess and develop the skills and knowledge to progress not only within the organisation, but their career by becoming motivated to learn, grow and perform. High performance within the organisation is promoted by rewards that are equitable and cost effective, given when rewarding skills, capabilities, performance and experience. While Band One focuses primarily on Performance and Reward and Learning and Talent Development as professional areas, the HRPM also depicts that the behaviours at Band One level are to be achieved. These include; Personally Credible, Collaborative and Driven to Deliver. The two core Professional Areas (Strategy Insights and Solutions and Learning and Talent Development) are at the very heart of any HR professional and should be the core values of any professional undertaking a HR career or an expert in their field.

Nfc Awards In Pakistan Economics Essay

Nfc Awards In Pakistan Economics Essay Pakistan is a federation consisting of four provinces, federally administered tribal areas, northern areas and Islamabad Capital Territory. Pakistan is a federation but its government is highly centralized, so majority of the revenues are collected at the center and then re-distributed vertically between federal and provincial governments, and horizontally among provinces through National finance Commission (NFC) awards. Then the provinces further re-distribute the resources to local governments through a revenue-sharing formula framed by Provincial Finance Commission (PFC). The criteria of revenue sharing has always been a bone of contention between the federation and the provinces. This is mainly because the federal government keeps a larger part of the revenues to themselves while provinces are left with fewer resources to carry on their development activities, thats why they face budget deficits very frequently. Moreover, there is a little autonomy and capacity for provinces to c ollect taxes on their own, so mainly they have to rely on the revenues relocated to them by the Federal government through NFC awards. The share provinces get from the Federal government is not sufficient to carry on the development projects, which is the reason they get into budget deficits very frequently. For proper service and delivery there is need of a higher share for provinces in NFC awards. Systematic Resources transfers among governments occurs at 4 levels. Firstly, from federal governments to provincial governments through National Finance Commission (NFC). Secondly, from provincial governments to local governments through Provincial Finance Commission (PFC). Thirdly, from federal to local, and lastly from local to local. In this report, I will focus mainly on systematic resource transfers from Federal to Provincial governments through National Finance Commission awards. National Finance Commission is constituted under Article 160(1) of the 1973 constitution for the smooth and thoughtful revenue transfers between Federal and Provincial governments. Constitutionally, it is to be held every 5 years by the President of Pakistan to review the resource sharing mechanism for the equitable fiscal transfers between Central and Provincial governments. Certain taxes collected from provinces are added in the distribution pool and then re-distributed to provinces according to the revenue sharing formula. NFC decides what percentage of the total revenues will be retained by the Federal government and what share will go to the provinces. What taxes to include in the distribution pool has always been a question of debate. The chairman of the commission is the Federal Finance Minister, and its members include all provincial finance ministers and experts to be nominated by the president of Pakistan in consultation with the provincial governors. The main charter of NFC is concerned with the following matters. Distribution of specified taxes and duties between the federation and the provinces. Payment of financial grants to provincial governments. Borrowing power exercised by the Federal and Provincial governments. Any other financial matter referred to the commission. As per law, NFC was supposed to be constituted for smooth and equitable revenue transfers between the Federal government and provinces. But in reality, it faced difficulties which hindered its development. Only 7 NFC awards have been given up till now, of which 3 were conclusive. The rest 4 remained inconclusive because federal government and provinces couldnt reach an agreement on the distribution criteria of revenues, therefore an interim award was awarded by the President in this situation. This paper will evaluate all the NFC awards in the history of Pakistan. Its related issues will be highlighted and improvements in the resource transfer mechanism will be recommended. 2. THE EVOLUTION OF NFC AWARDS 2.1 PRE-INDEPENDENCE REVENUE SHARING (NIEMEYER AWARD) Before independence of Pakistan, Niemeyer Award was followed in British India for the distribution of revenues between the Federal government and provinces, under the Government of India Act, 1935. All the financial matters between Federal and provincial governments were ruled by this act. Under this award, sales tax was a provincial subject, and 50 percent of the income tax collections were subjected to be redistribute. Even after the independence, Niemeyer award was followed till March 1952 with some adjustment in railway budget, sharing of income and sales tax. 2.2 POST-INDEPENDENCE REVENUE SHARING (RAISMAN AWARD) After the independence of Pakistan, Sir Jeremy Raisman was asked to devise a revenue sharing mechanism for allocation of revenues between federal and provincial governments. Thus he formed a revenue sharing formula called Raisman award in 1952. Considering the poor financial condition of the newly born state, a 50 percent share of sales tax was given to the federal government. Out of incomes of 50 percent income tax, 45 percent was given to East Pakistan, while the rest of the portion was given to the West Pakistan. 2.3 REVENUE SHARING UNDER ONE UNIT During 1955, Sindh, Punjab, Baluchistan and Khyber Pakhtunkhwa were professed as one unit- The West Pakistan. East Pakistan and West Pakistan were declared as the two separate units. The two awards, of 1961 and 1964, distributed the revenue between East Pakistan and West Pakistan. 2.3.1 The 1961 Award In this award, the share of East Pakistan from divisible pool was decided to be 64 percent, while that of West Pakistan was 46 percent. 30 percent of the sales tax was relocated to provinces on the basis of their respective collection. While the remaining duties on agricultural land and capital value tax on immovable property were given to the units as per their collection. 2.3.2 The 1964 Award Under this award, the divisible pool consisted of sales tax, income tax, export duty and excise duty. 30 percent of the sales tax were relocated to each province according to its collection. The share of center and provinces from the divisible pool was decided to be 35 percent and 65 percent respectively. While the share of East Pakistan and West Pakistan remained the same as in previous award i.e. 64 percent and 46 percent respectively. 2.3.3 National Finance Committee 1970 A committee was formed instead of a commission in April 1970 to devise a formula for revenue sharing between federation and the federating units. The divisible pool remained unchanged, though the federal and provincial governments share in the divisible pool was declared as 20:80 respectively. 54 percent of the provincial share was given to East Pakistan, while the rest 46 percent went to West Pakistan. The distribution among the provinces of West Pakistan was: Punjab 56.5 percent, Sindh 23.5 percent, Khyber Pakhtunkhwa 15.5 percent, and Baluchistan 4.5 percent. After the separation of East Pakistan, their revenue share was transferred to the provinces of West Pakistan. The revenue proportion remained the same, but the size of the pie was changed. NATIONAL FINANCE COMMISSION 1973 The 1973 constitution made mandatory for the government of Pakistan to make a National Finance Commission every 5 years for fair revenue distribution between Federal government and the provinces. From that point of time, West Pakistan started its journey after the separation of East Pakistan. From 1974 onwards, all the awards have been given under the National finance Commission. In reality, NFC has not been constituted every 5 years, contrary to what the law demanded. Lets briefly go through the various NFC awards in the history. First NFC Award 1974 After an increase in the number and amount of taxes between 1951 and 1970, there was a contraction in both in 1974, reducing the size of the divisible pool. The divisible pool only included income tax, sales tax, and export duty. The distribution ratio between federal government and provinces remained the same as 20:80 respectively. The criteria for horizontal distribution among provinces was decided to be population. Punjab, being the biggest in population, was advantaged. Its share was increased from 56.50 percent to 60.25 percent. While the other three provinces suffered, Sindh suffering the most. The resource distribution among provinces is presented in the table below. Table 1 1974 NFC Award-Provincial share Punjab Sindh Khyber Pakhtunkhwa Baluchistan 60.25% 22.50% 13.39% 3.86% To combat the weak fiscal position of the provinces, Baluchistan and Khyber Pakhtunkhwa were granted aid of Rs.50 million and Rs.100 million respectively. Second NFC Award 1979 The second NFC was constituted by the President general Zia-ul-Haq in 1979. But it held no meetings, consequently no award was given. Therefore, the award of 1974 was followed as an interim award. After census was held in 1981, the population ratios changed and so did the provincial share in NFC awards. The provincial share was adjusted according to the new census, which led some improved conditions in Baluchistan and Sindh, whereas the share of Khyber Pakhtunkhwa remained unchanged. The new provincial resource distribution according to the changed population is illustrated in the given table. Table 2 1979 NFC Award- Provincial Share Punjab Sindh Khyber Pakhtunkhwa Baluchistan 57.97% 23.34% 13.39% 5.30% Third NFC Award 1985 The third NFC was also constituted in Zia-ul-Haq regime in 1985. It held nine meetings in 3 years but failed to produce any fruitful results, mainly due to political instability. So the award of 1974 was followed till 1990. Fourth NFC Award 1991 After a long time, NFC became successful in giving recommendation in 1991. NFC is supposed to announce an award every 5 years, but there was a gap of 17 years between the previous award of 1974 and the 1991 award. This award came with some improvements and expansion in the divisible pool. Central excise on tea, tobacco, and betel nut was added in the divisible pool. So the divisible pool consisted of income tax, sales tax, export duty, and excise duty. However, custom duty still remained with Federal government. Federal government also took the responsibility of financing the provinces in case of deficits. The Federal and provincial share remained to be at 20 percent and 80 percent respectively. It can be said that the 1991 award was so far the best deal for provinces. But this award could not make any development regarding the diversification in the revenue sharing mechanism. The sole criteria for revenue sharing among provinces remained to be population. Disagreements among provinc es hindered the development in the resource sharing criteria. However, if we look at the positive side, this award considerably expanded the volume of provincial share in the revenues collected by the Federal government by around 18 percent as compared to 1974 award. This was mainly due to the addition of excise duty on certain items in the divisible pool. The 1991 award was a step forward to fiscal decentralization and provincial autonomy in the country. The 1973 constitution acknowledged the right of provinces to get royalty on natural resources on the basis of collection by each province. Royalty on gas and crude oil, development surcharge on gas, and profits from hydro-electricity were relocated to provinces in the form of straight transfers. As a result, the transfers to provinces increased from 28 percent (Rs. 39 billions) to 45 percent (Rs. 64 billion) of federal tax revenue. The share of each province under this award is given in the table below. Table 3 1991 NFC Award-Provincial Share Punjab Sindh Khyber Pakhtunkhwa Baluchistan 57.88% 23.28% 13.54% 5.30% Provincial share didnt have any changes because population was still the sole criteria for revenue distribution and no census was held since 1981. However, the volume of provincial share increased due to the inclusion of new taxes in the divisible pool. In addition to this, special grants were also provided to provinces to meet their developmental needs. The amount of these grants is illustrated in table 4. Table 4 1991 NFC Award-Provincial Grants Amount/Years Punjab Sindh Khyber Pakhtunkhwa Baluchistan Amount 1000 700 200 100 Next Years 3 5 3 3 (Rs.in million) However there was an increase in the flow of funds to the Provincial governments, provinces were advised to generate their own funds, but the autonomy and funds generating capacity were not sufficient as needed. Fifth NFC Award 1996 The 5th NFC award was announced in late 1996 by the care-taker government of that time. This award included all the federal taxes in the divisible pool. Which comprise: income tax, sales tax, capital value tax, wealth tax, excise duties (except the excise duty on gas charged at wellhead) and any other tax collected by federal government. Royalty on crude oil and development surcharge on gas were also relocated to provinces in the form of straight transfers. The incentive of matching grants was also given to the provinces but up to a certain limit; only if provinces exceeded their revenue target of 14.2 percent they would get matching grants. However, numerous objections have been made by the members of parliament elected to the provincial and federal governments following the 1997 general elections. With the expansion of federal divisible pool, the federal-provincial ratio in this award changed radically. Earlier it was 20 percent for federal government and 80 percent for provinces. In this award, the ratios were changed to 62.5 percent for federal government and 37.5 percent for provinces. One reason for decreasing the provincial share in the divisible pool is the overestimation of GDP growth rate. During the period when this award was being exercised, the country faced internal and external upsets which negatively affected the economy. Some say that provinces would be in a better financial situation if previous award of 1991 award was continued to follow that time. The sole criteria for resource distribution continued to be population. No development was made in this area. Considering the miserable situation of Baluchistan and Khyber Pakhtunkhwa, special grants of 4 and 3.3 and billions rupees were awarded to them respectively for the next 5 years. Sixth NFC Award 2000 The 6th NFC was constituted in year 2000 by the President General Pervez Musharraf. It held 11 meetings but could reach to any conclusions due to disagreements among the members of NFC. Provinces were demanding a share up to 50 percent, as well as diversification in the resource distribution criteria. Another NFC was constituted on 21st July, 2005 during President Musharrafs regime. But it too, like the previous NFC, stuck in a deadlock among its members and failed to give any recommendations due to the conflicting demands of its members. After an unsuccessful attempt to generate consensus on the resource distribution mechanism, all the provincial Chief Ministers asked the President to give a fair and justified award which would be acceptable to all stakeholders. So General Musharraf amended the Distribution of Revenues and Grants-in-Aid Order, 1997 by issuing Ordinance No. 1 of 2006. Thus after a deferral of 6 years, the 1997 award was amended and came into force on 1st July, 2006. Under this award, due to the constant demand from provinces, the provincial share from the divisible pool increase to 45 percent (share in total divisible pool + grants), with gradual increase of 1 percent every year up till the next 5 years. All the taxes of 1996 award were included in the divisible pool. The grants to provinces were increased from Rs.8.7 billion to Rs.27.75 billion. Punjab and Sindh, which didnt receive any grant in the 1997 award, were also given grants of Rs.3.05 billion and Rs.5.83 billion respectively. Seventh NFC Award 2010 The most recent NFC award of 2010 was given in the present democratic government. 2010 NFC award is a milestone in the history of Pakistan, which has bring improvements and variation in the resource distribution criteria. The demands of Sindh, Baluchistan and KPK have been recognized. The most prominent and distinguishing feature of this award is that it has followed a multi-dimensional revenue distribution criteria. In addition to population, other parameters have also been included, such as poverty, underdevelopment, and inverse population density criteria, as demanded by Sindh, KPK and Baluchistan. Baluchistan being the largest in area and scattered in population, demanded the criteria of inverse population density to include in the revenue sharing formula. While Punjab wanted population to remain the only criteria because it is in the provinces advantage. Since 1973 constitution, it is for the first time that resources are not distributed among provinces according to the old popu lation standards, but an advancement has been made in the resource sharing criteria. The formulation of multiple criteria for resource distribution is a commendable step and a way further to fiscal autonomy of provinces. It has been measured as a success of democratic system and provincial partners. Economists have measured it groundwork for Fiscal Federalism in Pakistan. No disputes came in the way of approval of 7th NFC award. It is marked by sacrifices and compromises by all the stakeholders for the sake of national unity and development. The big provinces exhibited flexibility in their approach to accommodate the demands of smaller and backward provinces. The center has sacrificed more than 10 percent of its share for provinces i.e. about Rs.225 billion more were granted to provinces during FY 2011-12 budget [Pakistan Economic Survey (2011)]. All the stakeholders have decided to cut the cost of revenue collection to 1 percent (previously it was 5 percent) to increase the flow of real transfers to provinces. Resultantly, the provincial share from the divisible poo l increased from 47.5 percent to 56 percent in the first year and 57.5 percent for all the remaining years of the award. This award is also significant in a way that all the provinces and center have shown a considerate behavior towards the most backward province Baluchistan. Acknowledging its special development needs, all the stakeholders have agreed to provided Baluchistan Rs.83 billion (9.09 percent) of the provincial pool in the first year of the Award. Punjab has given up 1.27 percent, Sindh 0.39 percent, and KPK 0.26 percent of its share. Whereas Baluchistan has gained 1.82 percent. The federal government has given up more than 10 percent of its share for provinces, which has increased the flow of revenues to provinces. The number one beneficiary of this award is Baluchistan with an additional budget of 175 percent. While KPK, the second most benefitted, received 79 percent, Sindh 61 percent, and Punjab 48 percent additional budget. The resource distribution among provinces is illustrated in table 5. Table 5 NFC Award 2010- Resource Distribution Province % Share in Divisible Pool under 7th NFC % Change in Share Additional Budget % Punjab 51.74 1.27 48 Sindh 24.55 0.39 61 KPK 14.62 0.26 79 Baluchistan 9.09 +1.82 175 Source: Pakistan Economic Review (2010) If we talk about the distribution parameters, 82 percent weightage has been allocated to population, 10.3 percent to poverty, 5 percent to revenue generation/collection, and 2.7 percent to inverse population density. Table 6 illustrates the different parameters and its weightage against each province. Table 6 NFC Award 2010-Revenue Sharing Formula (in percentage) Parameters Weight Punjab Sindh KPK Baluchistan Population 82 57.36 23.71 5.11 13.82 Poverty/backwardness 10.30 23.16 23.41 25.61 27.82 Revenue Collection 5 44.0 50 1.0 5 Inverse Population 2.7 4.34 7.21 81.92 6.54 One of the greatest achievements regarding this award is that it has aimed to reduce disparities among the provinces. This award benefits the two relatively more backward provinces, Khyber Pakhtunkhwa and Baluchistan, as compared to Sindh and Punjab. Before this award, provinces were getting Rs.550 billion. But in the first year of enforcement of this award provinces got more than Rs.850 billion, and in the next 5 years this amount will increase up to 1250 billion. The greatest achievement of this award is the reduction in inequalities regarding revenue collection in Sindh and Punjab, gas development surcharge from Baluchistan, and hydel profits from KPK. Considering the role of Khyber Pakhtun Khwa in war against terrorism, it has been provided a share of 1 percent from the divisible pool. 4. DEVELOPMENT OF NFC AWARDS OVER TIME Financial resources play the fundamental role in the development of any country. A well thought-out resource distribution is necessary for the development of backward areas so they can be at par with the national growth and progress. The current state of revenue distribution in Pakistan has evolved over time. Various improvements and advancements have been made in the revenue sharing formula since the formation of National Finance Commission. In this section I will analyze the impact of various NFC awards on the fiscal decentralization of the country. In Pakistan fiscal federalism has always been an issue which has never received a serious approach. Out of Seven NFC awards, only four have come up with additional parameters of revenue sharing between the federation and its units. Federal government has taken a less systematic approach to decentralize fiscal powers and functions and made the provinces depend on the center. This has negatively affected the performance and efficiency of provinces to work effectively. In a federation, the basic functions of Central government are maintaining law and order, defense matters, making a sound foreign policy, communications, currency management, general administration, debt servicing, industrial development, and work on public welfare including health and education. The rest of the matters fall within the sphere of Provincial and local governments. But not much effort has been put by our politicians to devolve powers and functions to lower tiers of government. With the passage of time, federal government has over-stretched itself into such matters which are of purely provincial nature, like irrigation, construction of roads, agricultural development, culture and tourism, youth affairs, and rural development. This has increased financial and administrative burden on the center. Federal government has taken too much responsibilities on its shoulders which certainly require more finance. If government is aiming toward devolution of power from center to provincial and local level, these tiers of government must be empowered and enabled to generate their own finance. Federal government generates 93 percent of the resources, while its share in the total expenditure makes up only 72 percent. On the other side, the total expenditure of provinces is 28 percent, and they generate merely 7 percent of the resources. It results in heavy dependency on the center. The argument behind the higher collection by the federation is based on the achievement of equity, efficiency, economy, and the federal governments ability to levy and collect [Kardar (2006)]. As most of the resources are already used up by the Federal government, provinces are left with less opportunities to generate their own resources. Resultantly, provinces have to rely heavily on the resources transferred to them by the center. If we closely look at the historical trend, we can easily understand that the journey of fiscal federalism In Pakistan has always been uneven. Fiscal federalism has always been a dilemma. It is interesting to note that out of seven NFC awards given after 1973 constitution, only few came up with additional parameters to share the revenues with the provinces. Only 3 out of 7 NFC awards were conclusive, the remaining 4 were inconclusive due to disagreements among the members of the commission. Historically, the problem of revenue distribution has never been taken seriously by our politicians and it always faced difficulty because consensus of all the parties involved is must for a new NFC award to be enforced. The resource distribution mechanism/criteria has always been a bone of contention among the provinces. Population, being the sole distribution criteria in all NFC awards (except the recent one) has always been a matter of friction among provinces. This shows a lack of coordination in our policy making. Sindh, Baluchistan and KPK have always demanded the diversification in revenue sharing formula with the inclusion of other factors with population, like poverty, backwardness and revenue generation capacity. Whereas Punjab has stressed over population to remain the sole criteria for revenue distribution because Punjab, being the most populated province, has always got the larger piece of pie in NFC awards. It is interesting to note that Pakistan is the only country in the world which follows one-dimensional formula for revenue distribution. Otherwise everywhere in the world various dimensions are used in view of the needs and economic conditions of the provinces. Due to inflexibility in the resource distribution formula, disparities among the economic conditions of people could not be reduced and diversified needs of provinces could not be catered as it should have been. In the above section, we have discussed each NFC award in detail, its pros and cons, and the percent allocation to provinces under each award. There are substantial disparities in the living standards amongst provinces, and also among the rural-urban areas of each province. Although the removal of discrepancies between urban and rural areas is the responsibility of Provincial Finance Commission, but without provision of adequate amount of resources/funds by the center, provinces will not be able to work on development and reducing inequalities at local level. If we compare the real per capita GDP of all the provinces, we find out that Khyber Pakhtunkhwa has been facing highest inconsistency among rural and urban income, next to Sindh and Punjab. While the gap between rural and urban income in Baluchistan is lesser, the reason is lack of development in its urban areas. Its urban areas are less developed as compared to that of other provinces, because of lesser economic opportunities i n cities. If we look at the historical trends, the first NFC award of 1947 had fewer taxes in the revenue pool. But in 1991 award, some improvements were seen in the revenue distribution. More taxes were made part of distribution pool. In addition, the right of provinces to get royalty on natural resources was given to them on the basis of collection by each province. The divisible pool was further expanded in 1996 award by the inclusion of all the federal taxes. 1996 award moved a step forward towards fiscal decentralization. It also introduced the incentive of matching grants to provinces. But if we look at the grey areas of this award, the expansion of distribution pool resulted in the contraction of provincial share. The federal-provincial share in the pool changed drastically from 20:80 to 62.5:37.5 percent respectively. So practically, no significant developments were observed in actual revenue transfers to provinces. Consequently, provinces fell short of funds and trapped in budget defi cits. Considering the miserable situation of Baluchistan and Khyber Pakhtunkhwa, special grants of 4 and 3.3 and billions rupees were awarded to them respectively for the next 5 years. Due to the constant pressure and demands from the provinces, government increased their share in the revenue pool to 45 percent in 2006 interim award. Just the provincial share was increased, no innovation was made in the resource sharing mechanism and it was still at its old population standards. Baluchistan and Khyber Pakhtun Khwa were demanding revenue distribution on the basis of poverty. The poverty ratio in Baluchistan is 37 percent and that of Khyber Pakhtunkhwa is 44 percent. However, no diversification was made in the distribution criteria. One of the main reason which hindered the development of NFC awards is the conflicting demands of provinces over the resource sharing mechanism. The criteria of revenue dispersal between the center and provinces has always been a matter of conflict between these two tiers of government. Four out of seven NFC awards remained unproductive and unsettled amid this hostility. The complaints of the provinces were heard when the central government agreed to give provinces 40 percent share in the divisible pool with addition of 1 percent every year till the next 5 years. But there is an argument from Federal governments point of view that whenever the share of provinces has increased it gave rise to non-development expenditure which is unproductive. The reason is provincial governments don not have specific development programs in place as well as capacity to raise the living standards of people. The poverty ratio in Baluchistan is 37 percent and that of Khyber Pakhtunkhwa is 44 percent, but provincial governments failed to formulate an appropriate strategy to reduce these disparities. This relates to the issue of political economy and public choice. Our electoral system can bring about such a state in which the federal government can be taken over by the larger province due to its majority seats in the National Assembly. Although, in Senate all provinces have equal representation but Senate has power only to discuss on the policy matters, but the decision making right resides with the National Assembly. So it is the National Assembly who has the constitutional supremacy to devise a reasonable resource sharing formula. Furthermore, the federal government does not want to give up its powers to provinces and let them grow autonomously as it will reduce their control on policy matters. This could be seen as since independence, 10 awards have been recommended for justified resource sharing between the center and provinces, but out of them only 3 (1974, 1991, and 2010) initiated by elected governments. The most significant development of the year 2010 was 7th NFC award which brought about some innovation in the revenue sharing criteria. After the independence of Pakistan, It was for the first time that a diversification was brought in the revenue sharing mechanism and some other factors were taken into account with population, like backwardness/ poverty, area and revenue collection. The long-ignored demands of provinces were accepted. With

Do children recognize more words looking at them up and to the left Ess

In order for the principle of looking up and to the left of a word to work, NL says that there are two main ideologies that need satisfying. Firstly, the subject must be right handed, and secondly, he must be a visual learner. However, similar to the studies of Loiselle and Malloy, the present researcher has worked on the premise that between 60 and 70% of the population is right handed Emes et al (2005), Malone (2003), Heaton et al (2008) and Holliday (1999), and would have, therefore, expected that the hypothesis be true in approximately 23 of the 33 right handed subjects used. Out of this study’s sample of 36, the data showed that only 6 had results that concurred with the hypothesis. As a discrete figure, this could be perceived as showing some evidence to support the hypothesis, yet, 18% could not be considered statistically significant to render it conclusive. This figure became less significant in support of the hypothesis as the children who recalled these words also recalled words shown to the front. When subtracting the results from the controlled variable, the greatest margin was just two words, and this was found in just two children. Interestingly, although this may seem an insignificant amount, it correlated with the results from the research of Loiselle and Malloy, who concluded that the NL principle helped improve visual memory recall by 25%. To illustrate this similarity in results, the present researcher calculated that the difference of recognising 2 more words from the controlled variable to be 20%. Could this mean Loiselle and Malloy studies data proved significant enough evidence to conclude this NL principle worked? The statistics in fig. 1 revealed that the present researcher’s hypothesis was not ... ...to be shrouded by mystery, but strangely, NL trained people do not appear to want to demystify the principle and enhance its credibility. While the VAK in schools may still be enjoying popularity, an alarming thought is that, while it has been endorsed, and compartmentalised children without adequate research into its effectiveness. It is, therefore, concluded that once the good feeling stimulus is taken away from the NL principle of recognising words by looking at them up and to the left, what remains is that the field of vision is insignificant to it, but the basic principle that ‘the brain thinks in terms of images’ remains, Butler-Bowden (2005: 180).This research closes on the thought that Cricket Kemp’s NL principle may actually be based upon hypnotherapy techniques, and, if used by accredited trainers could be a manipulative tool rather than a strategy.

Nuclear Power Plant :: essays research papers

New form of Energy for Capetown   Ã‚  Ã‚  Ã‚  Ã‚  Capetown is considered to be the largest city in South Africa, having a population of over 2,727,000 inhabits. The energy form used in Capetown at the moment, is Gas Turbine, wich provides most of the city ´s electricity. The use of electricity in Capetown is very low compared to western countries, for example there is only one TV for almost ten people, the energy consumption per inhabit a year is about 4000 kWh, wich is 2550 kWh less than the energy consumption per inhabit a year in Paris, France.   Ã‚  Ã‚  Ã‚  Ã‚  Our plan is to built the most effective, cheap also inviromentaly friendliest way to produce energy for the 1 575 000 inhabits of Capetown, we came to the solution: BUILT A NUCLEAR POWER PLANT. ? Picture of Loviisa, Nuclear power plant We explain our solution by the following facts: ? If we built other forms of plants we would need:   Ã‚  Ã‚  Ã‚  Ã‚  3  Ã‚  Ã‚  Ã‚  Ã‚  Coal power plants or   Ã‚  Ã‚  Ã‚  Ã‚  12  Ã‚  Ã‚  Ã‚  Ã‚  Hydro power plants or   Ã‚  Ã‚  Ã‚  Ã‚  7  Ã‚  Ã‚  Ã‚  Ã‚  Gas turbine power plants or   Ã‚  Ã‚  Ã‚  Ã‚  173  Ã‚  Ã‚  Ã‚  Ã‚  Solar power plants or   Ã‚  Ã‚  Ã‚  Ã‚  4792  Ã‚  Ã‚  Ã‚  Ã‚  Wind power plants. but we only need one nuclear power plant to provide enough electricity for 1 575 000 people. Inviromental facts that concerned us:   Ã‚  Ã‚  Ã‚  Ã‚  A nuclear power plant may sound nasty and dangerous, from the naturistic point of view, but that is not a fact. A very good example of this is, the amount of fuel that a 900 MW nuclear power plant needs, wich is about one van of uranium per year, but a coal   Ã‚  Ã‚  Ã‚  Ã‚  power plant with same capacity needs about 140 tons of coal per hour, and it also polutes the air by carbon dioxide wich is released when coal’s stored energy is been transformed into heat energy. The carbon dioxide wich is been released in the prosess causes greenhouse effect, wich is the main cause of increased temperature of world. A hydro power plant does not need fuel, but it polutes the sights of a beautiful current river, because of it size, sometimes whole villages have to be moved from the reservoir area, it also effects the biosystem of both up-and down stream for quite a long distance from the location of the dam. A wind power plant is a good solution but it needs space, ev en one turbine needs about 100x100m space to work properly, if a malfunction appears in the turbine, it can fall down or the blades might break, and fly for thousands of meters. The industry producing the turbines polutes the inviroment, The turbines also cause some problems in TV and radio links.

The Path into Madness in The Yellow Wallpaper -- Yellow Wallpaper essa

The Path into Madness in The Yellow Wallpaper      Ã‚  Ã‚   In the late 1800's/early 1900's, when Charlotte Perkins Gilman experienced her episode of "temporary nervous depression" (Gilman 885), and wrote her autobiographical short story, "The Yellow Wallpaper," the workings of the mind were mysteries that few medical people attempted to investigate. A patient who was poor and ill-educated and exhibiting signs of mental disorder was institutionalized -- ala Bedlam. The patient who was rich, educated, and/or from a "good family" was called eccentric and given a prescription for complete mental rest and controlled physical exercise combined with the consumption of phosphorus enriched tonics. This regimen was to be followed in an environment that allowed the patient to ingest large quantities of clean fresh air (Gilman 885, 886). In her retrospective, the author was able to present a frighteningly candid view of the ineffectiveness of this last pattern of treatment.      Ã‚  Ã‚  Ã‚  Ã‚   Ms. Gilman's heroine's adventure into madness started with an onset of post partum depression. This fairly common side effect of childbirth comes at the time in her life when the woman (according to society) is supposed to be her happiest, most satisfied self. However, with her mind suffering from the effects of her body's frantic attempt to realign its chemical components into a balanced state, the new mother is confronted by moods that are the antithesis of the euphoria she is told she should be feeling. This juxtaposition of expected and experienced emotions can create tremendous guilt in a woman, even a very strong woman. To mitigate this guilt, the mind can develop a psychosis, such as delusional disorder. Ms. Gilman was very perceptive in looking at he... ... this case -- unenlightened) treatment, progressing into dementia. And she created this scenario years, if not decades, before medical science understood the relationship between the various parts of her heroine's -- and her own -- path into madness.    Works Cited Danford, Darla Erhard. "Pica and Nutrition." Annual Review of Nutrition Issue 2 (1982): 303 - 322. Decker, Chris J., MD, FRSCS. "Pica in the Mentally Handicapped: A 15 - Year Surgical Perspective." Canadian Journal of Surgery 36.6 (1993): 551 - 554. DSM - IV Diagnostic and Statistical Manual of Mental Disorders. Fourth edition. Washington, DC: American Psychiatric Association, 1994. 290 - 301. Gilmore, Charlotte Perkins. "The Yellow Wallpaper." Being and Becoming. Anne Mills King, and Sandra Kurtinitis editors. New York, NY: McGraw - Hill Publishing Company, 1987. 886 - 892.   

Automobile in History Essay

The United States as a country was founded upon simple fundamental guidelines that have allowed for us to become a leading power in the world. These guidelines have been rapidly evolving and expanding to allow them to remain relevant in the world around us. An obvious example of this rapid change and adaptation is the introduction of the car into everyday American life. It is well known that cars were invented prior to the Model T, but the Model T was the first car capable of being mass produced and affordable to Americans with proper fiscal management (Kyvig 47). With this breakthrough by Henry Ford people were becoming more connected than ever and the manufacturing while simultaneously creating an entire new element in the world of business. Once the people were equipped with the ability to drive the nation forward in all regards, they did exactly that. With the mass production and use of the Model T the United States improved greatly within our own economy, leisurely drives and motor sports were derived from the traditional use of the car, and the car soon became a mark of status within American society. Starting in the late 1700’s, European engineers began tinkering with motor powered vehicles. Steam, combustion, and electrical motors had all been attempted by the mid 1800’s. By the 1900’s, it was uncertain which type of engine would power the automobile. At first, the electric car was the most popular, but at the time a battery did not exist that would allow a car to move with much speed or over a long distance. Even though some of the earlier speed records were set by electric cars, they did not stay in production past the first decade of the 20th century. The steam-driven automobile lasted into 1920’s. However, the price on steam powered engines, either to build or maintain was incomparable to the gas powered engines. Not only was the price a problem, but the risk of a boiler explosion also kept the steam engine from becoming popular. The combustion engine continually beat out the competition, and the early American automobile pioneers like Ransom E. Olds and Henry Ford built reliable combustion engines, rejecting the ideas of steam or electrical power from the start. Automotive production on a commercial scale started in France in 1890. Commercial production in the United States began at the beginning of the 1900’s and was equal to that of Europe’s. In those days, the European industry consisted of small independent firms that would turn out a few cars by means of precise engineering and handicraft methods. The American automobile plants were assembly line operations, which meant using parts made by independent suppliers and putting them together at the plant. In the early 1900’s, the United States had about 2,000 firms producing one or more cars. By 1920 the number of firms had decreased to about 100 and by 1929 to 44. In 1976 the Motor Vehicle Manufacturers Association had only 11 members. The same situation occurred in Europe and Japan. The first automobile produced for the masses in the US was the three-horsepower, curved-dash Oldsmobile; 425 of them were sold in 1901 and 5,000 in 1904–this model is still prized by collectors. The firm prospered, and it was noted by others, and, from 1904 to 1908, 241 automobile-manufacturing firms went into business in the United States. One of these was the Ford Motor Company which was organized in June 1903, and sold its first car on the following July 23. The company produced 1,700 cars during its first full year of business. Henry Ford produced the Model T to be an economical car for the average American. By 1920 Ford sold over a million cars. It is a well known fact that the Model T was the byproduct of a much larger scheme; it was the first manufactured good that utilized the assembly line (Kyvig 78). The assembly line has proven to be one of the most significant factors in American manufacturing throughout time. This revolutionary introduction into the business world allowed for the expansions of industry into parts of the country it had never been able to touch before (American Decades 84). By incorporating these techniques into his company the term Fordinomics was coined (Anonymous 1). The implemention of this Fordinomics was simple focus on your small portion and in the end put it all together for cheaper and better quality (Anonymous 1). This specific assembly line allowed for two key components of the manufacturing market to be vastly improved in a very short amount of time. It can be observed that the more obvious of the two is the simple efficiency of the assembly line and much less strenuous work it brought. The other is the production of the car and its use in shipping efforts. Prior to this time shipping was solely in the hands of the railroad industry, but no longer. This monopoly that was broken by this introduction thrust the United States into a position of potential economic greatness. The greatness was achieved through thoroughly spread pockets of manufacturing in key cities around the country. Within this pockets were always massive urban centers to allow for the full potential of this newly discovered manufacturing style to be maximized (Kyvig 105). By implanting this new style into the heart of industry Americans were now receiving more steady incomes, thus allowing the purchase of more of the goods they themselves were producing. This style of production utilized first with the Model T was utilized by the United States military to amass more and more supplies for the armed forces. Throughout World War 1 the assembly line was utilized to quickly and efficiently resupply our overseas troops in the most cost effective way possible (American Decades 132). Henry Ford has single handedly thrust the United States into a position of opportunity through his ingenious style of production matched with the most basic form of the car. With the car now being used as a more practical tool rather than just a luxury available to the most upper class of people, it slowly became a necessity in the life of many Americans. The introduction of the car was not only beneficial to the American consumer, but to consumerism as a whole. It allowed for every aspect of consumerism to be fully maximized to every last detail from raw product to shipping the completed products across the nation. Today cars are what make coming and going from work, school, and other commitments possible for us in our lives, our ability to succeed as a country has been established through this tradition of motor vehicles that was instilled upon us by Henry Ford. When the car was made readily available to the American public they turned it into a form of entertainment. It began with the casual Sunday drives that most car owners practice once they were in possession of a vehicle (Hanss 2). These causal drives were established as an escape from what people were seeing every day, going ten miles from their home was uncommon prior to the introduction of the car. These allowed people to begin to be more ambitious in their opportunities to leave the traditional home and go out into the unknown world to fulfill their dreams. The dreams of people were more often than not farfetched and highly unlikely, yet they seemed to be sought after more than any other thing in America. The car was device beginning to be seen not only for its economic benefits, but for the simple joy that could be found within the fundamental concept of going faster than the human body is intended to. The first automobile race in the United States was held in Chicago in 1895 on Thanksgiving Day (Harding 39). This race was prior to the availability of a car to the common public solely due to too high of prices. Due to this beginning of racing before the access to cars was affordable for the common American family it can be assumed that the urge to own a car was heightened. Now the car has effectively proved to be another source of entertainment to the American people. With the taste of what a car is capable of doing the rapid expansion racing into an entire industry came shortly after. Soon after the end of World War 2 there were about six different types of cars dedicated to racing alone (Harding 135). The American people had found a very simple escape from everyday life in the form of watching races. There was something about the way the cars sounded, or the cheering of drivers that allowed people to make a connection with this new sport and become mesmerized by its blinding speeds and incredible skill set required. The infatuation with racing swept across the nation like something never seen before, and to this very day the affects of this infatuation can be seen in NASCAR and other racing based professional sports leagues in the United States (Benzkofer 1) The car originally intended as a tool, like a wrench of screwdriver, to simply accomplish tasks one cannot complete without the require tool has become a symbol for more than just that. The car was a sign of prestige and accomplishment coincided with a dose of arrogance that could not go unseen when talking in terms of someone else’s money (American Decades 84). With the use of the car as a sign of accomplishment and success came the need create images for celebrities and political figures to ensure they were valued, respected, and cherished. It was necessary to create these images to portray to the public the stability and prosperity in times of doubt (Kyvig 49). Your car was also the stamp given that labeled your mark in society, if you were in possession of a car prior to 1905 then you most likely were a wealthy person, but after the creation of the Model T it was much more common to see people in possession of vehicles thus creating a new way of judging and labeling each other. Throughout the life of vehicles there has always been a message sent to potential owners that the looks and appearance of the car is vastly more important than it actually is. Over exploitation of human nature to want to best has forced the car into a position of losing efficiency for trendy looks. By the 1940s there were hundreds of different makes and models to choose from (Harding 124). The plethora of decisions to be made during the purchase of a vehicle was absurd, from the color of the inner lining of the tires to the type of materials used to create the interiors of the car. The car had been developed into a device of status, income, and prestige in society rather the it’s intended purpose of being a tool that made basic jobs and tasks easier to accomplish. The automobile is arguably one of the most influential inventions to ever hit the United States. It brought with it several different political, economic, and social changes to society. Politically the car was a sign of power and accomplishment, without a beautiful car you were nobody. The development of the Model T and the assembly line thrust the United States into a manufacturing economy allowing growth and prosperity. With the introduction of higher speeds and travel came the leisure side of cars in racing. Racing was an outlet for many Americans when times began getting rough. In all, the automobile is a blessing bestowed upon the world allowing us all to advance and become more efficient in the way we conduct our lives. Word Count= 1957 Works Cited Anonymous, â€Å"Ford to Own Ships, Make Tires, Extend $5 A Day Schedule† in New York Times, 10 August, 1914. Dearborn Michigan, August 1914 Stephan Benzkofer, â€Å"Zoom Town† in Chicago Tribune, 12 September, 2012. Chicago Michigan, September 2012 Daniele Hanns, â€Å"Socioeconomic affects of cars in the 1950’s† Journal of Social/Economic History 2, no. 1 (2003) David Kyvig, â€Å"Daily Life in the United States, 1920-1940: How Americans Live Through the â€Å"Roaring Twenties† and the Great Depression† Library Journal 129, no. 12 (2001) Parker, Dorothy. American Decades: 1900-1909. 1st ed. 7. New York: Random House, 2001. Print. Harding, Elizabeth. â€Å"Henry Ford. † SIRS Decades. ProQuest, 12 Aug. 2006. Web. 28 Nov. 2012.

Detailed explanation of how other businesses support the retail sector P2 Essay

There are many different businesses that help in the retail sector to keep the business going and running efficiently and without these businesses it would be extremely hard if not impossible to get a business off the ground or even keep one running. Opening a sports shop in Manchester To begin with we need a place for all the money to go so that we can keep track of incoming and outgoing money so we need a business account with a bank. A bank is a business that provides a place for you to hold your money securely and also providing a way to track and manage your money and accounts making it easier for you to manage your taxes sales and expenditures and having an account you need someone to manage these for you so you would need an accountant there are businesses that can provide you with an accountant or accountants that will work for you they manage your accounts balancing your sales, expenditures and your taxes giving you more time to work on other areas of the business. A lot of business is now done on computers or if it’s a shop on tills so this requires a place for you to get your computers, tills or other hardware needed to run the store being a sports shop we will be using tills for the sales of products, computers for managing accounts and emailing, printers for making bank notes, receipts and bills and telephones for making calls to make sales and orders so we will need a phone company to provide us with a phone line and an account with them for phone usage, an internet provider to give us an internet connection so that we can send e-mails, check accounts online, make a website to advertise and even sell our goods on which will require a web designer who will make the website and manage it for us. We also need electronics stores that could sell us the computers, telephones and printers. Tills are a specialist item to buy so you will need to find a company that will provide and perform the necessary upkeep on them and we also need I.T specialists who can provide us with the software and management of the software for the tills and computers. We also need to find a supplier to provide us with the sportswear and sporting goods for us to sell a supplier is a company that usually make the goods themselves or buy it from the manufacturers and sell everything in bulk for a cheap price and then you sell the goods on for a profit, so they are two more businesses that can help us manufacturers and  suppliers without these businesses we would struggle to get the goods we need to sell. Then we need logistics companies to transport these goods to us and even from us to the customers, we might also need a place to store our goods so we will need warehousing and possibly security services to make it safe to store the goods so you might look into security companies/businesses that will manage the shops and warehouses. We also have accidents at work in stores and possible needs for legal action so we could do with lawyers/solicitors so finding a law firm that can help is also a good thing to be aware of. When you have problems with the buildings that you are using for your business activities you will need trades people to fix any issues you may be having i.e. Say your plumbing is leaking or toilet facilities or malfunctioning you will need to find a plumber to come and fix the problems you are having, if you need lighting or sockets or general electrical work doing you will need an electrician, if you are building a new building you will need architects, brick layers, window fitters, roofers, carpenters, electricians, plumbers, landscapers and possibly more to make your new building. If you want to expand your business and help it grow but you haven’t got the money for it straight away you might consider looking for investors who will give you the money upfront for your business venture for a percentage of the company profits. We also have accidents and tragedies that happen and could cause problems or losses within a company and for these times you can also get insurance from an insurance company who will help you and even pay for any issues that need to be fixed and solved. So to sum it all up there are many businesses that we need to make a business and to keep a business running and without these different businesses there would be no retail and no business.

Attitudinal Behaviour Essay

Purpose – In order to classify individuals based on their needs, this paper aims to consider both self-stated attitudes and behaviours in a comprehensive range of daily ï ¬ nancial affairs. Furthermore, it aims to study the impacts of socio-demographic variables such as gender, age, and education. Design/methodology/approach – A questionnaire was answered by 1,282 respondents in the German-speaking part of Switzerland. Factor analysis revealed ï ¬ ve components. Based on these components a two-step cluster analysis (Ward and K-means analyses) identiï ¬ ed distinct subgroups. Linear regressions were used to investigate the impacts of socio-demographic variables. Findings – Factor analysis revealed ï ¬ ve underlying dimensions of ï ¬ nancial attitudes and behaviour: anxiety, interests in ï ¬ nancial issues, decision styles, need for precautionary savings, and spending tendency. Cluster analysis segmented the respondents into ï ¬ ve subgroups based on these dimensions with an ascending order of speciï ¬ c needs for ï ¬ nancial products. Gender, age, and education were found to have signiï ¬ cant impacts. Research limitations/implications – Real consumption behaviour cannot be observed through the survey, which limits the external validity of the study. Practical implications – The segmentation identiï ¬ es different levels of ï ¬ nancial competence and needs for ï ¬ nancial products. It allows ï ¬ nancial service providers to offer more effective advice and to meet customers on their own level to improve personal ï ¬ nancial management. Originality/value – Attitudes and behaviours in daily ï ¬ nancial affairs are examined to reveal individuals’ ï ¬ nancial competence and consequential product needs. A heterogeneous sample covers a variety of demographic groups. Keywords Personal ï ¬ nance, Savings, Questionnaires, Factor analysis, Cluster analysis, Switzerland Paper type Research paper Introduction Everyone has to manage his or her personal ï ¬ nance in one way or another. Some tend to save a lot, some like to collect information before each purchase, some like to follow their gut feelings. Private investors are not a homogeneous group but rather The authors would like to acknowledge the support of the University Research Priority Program â€Å"Finance and Financial Markets† of the University of Zurich and the National Centre of Competence in Research â€Å"Financial Valuation and Risk Management† (NCCR FINRISK), Project 3, â€Å"Evolution and Foundations of Financial Markets†. In addition, they would like to thank the Swiss ï ¬ nancial company that provided them with client data and the anonymous referee for the helpful comments. International Journal of Bank Marketing Vol. 27 No. 2, 2009 pp. 108-128 q Emerald Group Publishing Limited 0265-2323 DOI 10.1108/02652320910935607 individuals with various ï ¬ nancial practices combined with different levels of experience, anxiety and interest in ï ¬ nancial matters (Gunnarsson and Wahlund, 1997). In an increasingly competitive marketplace, ï ¬ nancial institutions need to emphasise customer relationships and the retention of existing customers that require an in-depth understanding of their attitudes and behaviours (Harrison and Ansell, 2002). The heterogeneous market is divided into smaller more homogeneous groups to meet speciï ¬ c needs with a corresponding business model (Jenkins and McDonald, 1997). Market segmentation relies, in the ï ¬ nancial industry, largely on socio-demographic information to deï ¬ ne segments for speciï ¬ c services (Harrison, 2000). It is questionable  ¨ as to how appropriate they are (Jorg, 2005), therefore in this study, selected aspects of ï ¬ nancial affairs such as routines and attitudes are gathered to gain insights towards signiï ¬ cant behavioural patt erns. The objective in this research is to examine the extent to which a broad range of private investors can be classiï ¬ ed into a small number of clusters in order to learn about group-speciï ¬ c needs in ï ¬ nancial affairs. More than 1,200 participants in Switzerland have answered our questionnaire with a response rate of 79 per cent. Unlike some other studies in this ï ¬ eld (e.g. Lim and Teo, 1997; Wood and Zaichkowsky, 2004), this survey is not limited to students, but includes a broader range of the public. Instead of focusing solely on savings behaviour (EBRI, 2002; MacFarland et al., 2003), the present study embraces a wider scope of daily ï ¬ nancial concerns. Thereby factor analysis exposes ï ¬ ve underlying dimensions: anxiety, interests in ï ¬ nancial issues, decision styles, need for precautionary savings, and spending tendency. We demonstrate that our respondents can, based on these dimensions, be classiï ¬ ed into ï ¬ ve distinct groups by cluster analysis where from cluster I to V, the need for action for a better handling of ï ¬ nancial matters increases: for example, the â€Å"Gut-feeling followers† show a intuitive way of decision taking, disinterest in ï ¬ nancial subjects and a lack of awareness for the need of provision which make it difï ¬ cult to argue for or to initiate remedial action. Each cluster raises key issues in meeting their needs and allows for guidance to design and adapt instruments to assist in speciï ¬ c ï ¬ nancial requirements. To illustrate how ï ¬ nancial behaviour can be modiï ¬ ed to improve personal ï ¬ nance speciï ¬ cally for each group, examples from the area of retirement savings, an important part of daily ï ¬ nancial management, are chosen (Clark-Murphy and Soutar, 2005). Linear regression further reveals that the clusters highlight socio-demographic characteristics and help generate a better understanding, although one socio-demographic factor alone does not offer enough information to detect cluster membership. The main theoretical contribution of this paper is that we segment the investors based on the revealed dimensions in attitudes (e.g., level of anxiety), together with the self-stated ï ¬ nance-related behavioural pattern (e.g., spending tendency). In this way we could identify the speciï ¬ c needs and provide different services to each subgroup. Theoretical background and literature review Individuals show considerable deviation from the expectation of rational behaviour implied by ï ¬ nancial models (Barberis, 2003). Being conscious of the empirical limitations of the homo economicus model for exploring the behaviour of private individuals, behavioural ï ¬ nance broadens the view by combining knowledge from psychology and economics ( Camerer and Loewenstein, 2004). Our study belongs to this area. However, instead of focusing on particular anomalies and biases that individuals succumb to, such as overconï ¬ dence and procrastination (Biais et al., 2005; O’Donoghue and Rabin, 1998), we broaden the scope under review by studying general patterns when dealing with ï ¬ nancial issues. Market segmentation In the ï ¬ nancial services industry, market segmentation is a common method to understand better and serve the diverse customer base with its wide-ranging needs and various behaviours (Speed and Smith, 1992). Competitive pressures from deregulation of the ï ¬ nancial services market increase the requirement for market orientation and a more intimate knowledge of the market and its segments (Gunnarsson and Wahlund, 1997). Previous research has shown that there are various beneï ¬ ts from taking a segmented approach to the marketplace: a better serving of customer requirements; a tailoring of offerings; and higher customer satisfaction (Harrison and Ansell, 2002). It can increase customer retention and create loyalty and long-term relationships that positively affect performance (Martenson, 2008). Market segmentation aims to recognise patterns of ï ¬ nancial behaviour, identiï ¬ ed by studied segment predictors to group individuals into segments according to their product needs (Harrison, 2000). Yet, marketing in the ï ¬ nancial services industry today is still predominantly based on socio-demographic features like gender and age which are easy to identify and easy to apply in the composition of groups (Machauer and Morgner, 2001). A prediction of needs from socio-demographic characteristics cannot be assumed; therefore these widely used a priori segmentations are under review (Speed and Smith, 1992). In contrast, post hoc methods entail the grouping of respondents according to their responses to particular variables, focusing on customer motivations (i.e. needs/behaviour) that are more likely to result in a service based on individual n eed (Durkin, 2005). In research, behavioural segmentation is increasingly found (Elliott and Glynn, 1998; Soper, 2002), although researchers continue to concentrate on the ï ¬ nancial behaviour of speciï ¬ c groups and selective variables  ¨ (Warneryd, 2001). This study focuses on the general population, giving a more holistic view of personal ï ¬ nancial management activities and taking attitudes and behaviour into account. Individual investors The literature on individual economic behaviour often focuses narrowly on speciï ¬ c  ¨ areas such as risk attitudes (Warneryd, 1999; Wood and Zaichkowsky, 2004) or saving (Normann and Langer, 2002; Thaler and Benartzi, 2004). Other ï ¬ elds of research target investment in securities (Barber and Odean, 2001; Brennan, 1995; Keller and Siegrist, 2006) or focus on speciï ¬ c segments such as occupational groups (e.g., dentists and  ¨ managers (Jorg, 2005)). Speciï ¬ c ï ¬ nancial issues or situations, however, are not indicative of an individual’s behavioural and attitudinal disposition toward ï ¬ nance. Rather an interest in ï ¬ nances or having certain habits related to managing one’s ï ¬ nancial means may indeed be a moderating factor to learn about behaviours and needs (Loix et al., 2005). The attitudes and behaviours toward ï ¬ nances regarded in this study focus on individual ï ¬ nancial management behaviour. It is a topic with important implications that has not been sufï ¬ ciently examined in ï ¬ nancial and economic behavioural studies (Loix et al., 2005). The subject is not covered by the extensive research on individual’s attitudes and habits towards money, as such studies focus on the meaning of money (Lim and Teo, 1997) or basic values concerning money in general as an abstract concept (Raich, 2008), and not on an individuals’ ways of dealing with his or her personal ï ¬ nance. Previous studies of private investors have used mainly behaviour-based criteria or attitudes and do not combine both aspects (Keller and Siegrist, 2006) that are the focus of this study. This study is not product-linked but wider ranging in that it examines the self-stated ï ¬ nancial attitudes and behaviour of individual investors. Attitudes and behaviours A frequently discussed question in research is to what extent attitudes predict behaviour. A direct relationship between attitudes and behaviour has often been found to be weak, but difï ¬ culties in ï ¬ nding a strong relationship might derive from  ¨ differences in deï ¬ nition and measurement (Warneryd, 1999). The more speciï ¬ c the attitude is the better are the chances of ï ¬ nding a substantial correlation with behaviour if behaviour is also deï ¬ ned as a speciï ¬ c act (Ajzen and Fishbein, 1980). Therefore, deï ¬ ned questions or attitudes can have predictive power and a higher correlation of attitude to-wards behaviour has been conï ¬ rmed in studies (in a comprehensive  ´ meta-analysis: Glasman and AlbarracÄ ±n, 2006; Tesser and Shaffer, 1990). A further question is the beneï ¬ t of knowledge concerning behaviour. Whilst behaviour changes over time, there is a popular assertion that â€Å"past behaviour is the best predictor of future behaviour† (Ajzen, 1991, p. 202). It is a reï ¬â€šection of these ideas that leads to attitudes and behaviour being explored in this paper. Financial needs segmentation Several typologies concerning the ï ¬ nancial affairs of private investors can be found in the previous literature, but with more speciï ¬ c approaches: se gmentations are based on ï ¬ nancial maturity and knowledge (Harrison, 1994), provision for retirement (Gough and Sozou, 2005) or savings strategies (Gunnarsson and Wahlund, 1997). Loix et al. (2005) come closest to the focus of this study with the question of orientation towards ï ¬ nances but their goal is to develop a measurement scale for individual’s ï ¬ nancial management. In this study, we examine the self-stated ï ¬ nancial attitudes and behaviour through a broader basis and do not restrict ourselves only to questions concerning risk or saving. We apply the methodology of cluster analysis to identify groups of private investors in order to obtain insight into the enforcing or modifying of speciï ¬ c behaviour. Cluster analysis has become a common tool in marketing and is a well-adopted method for market segmentation as well as the applied factor analysis apparent in this paper (Punj and Stewart, 1983). The aim of the present study is to obtain a better understanding of people’s needs in ï ¬ nancial matters to provide adequate services and products. This study, based on ï ¬ nancial service consumers, identiï ¬ es distinct motivational clusters that were independent of the more established socio-demographic segmentation variables used in targeting and communicating by ï ¬ nancial institutions. This study demonstrates that, by segmenting respondents on the basis of a broader range of ï ¬ nancial attitudes and behaviour, a yield of clearly interpretable proï ¬ les can be realised and is helpful to identify those people in most need of professional ï ¬ nancial advice. This research suggests that customer’s ï ¬ nancial proï ¬ les may be useful in predicting their response to new products as well as persuading them to use existing services for the speciï ¬ c beneï ¬ ts they value. Participants and questionnaire The data come from a questionnaire that wa s completed by 1,282 respondents from various regions of the German-speaking part of Switzerland. The respondents were recruited from two sources: 53 per cent of the participants (n  ¼ 680) were clients seeking consulting advice from a Swiss ï ¬ nancial planning company, together with participants in courses in ï ¬ nancial training within the same ï ¬ rm (convenient sample). The second source was employed to avoid a client bias in the study. A total of 602 study subjects (47 per cent of the total study) were identiï ¬ ed through a combination of â€Å"quota[1] and snowball[2] sampling procedures† (Vogt, 2005) so that its composition in terms of sex, age, and other demographic characteristics came close to reï ¬â€šecting the respective proportions in Switzerland. Although not every member of the population is equally likely to be selected, the sample is composed of a wide variety of backgrounds. The diversity came from such groups as participants in a study relating to ï ¬ nancial literacy, and from different sources such as a nursing home, a group of university students, a group of teachers, company employees from four Swiss companies unrelated to the ï ¬ nancial services sector, a group of self-employed people, participants in a course for the unemployed, and a group made up of parents. The questionnaire was designed in German. Participants were ï ¬ rst asked to give their self-assessment by answering 17 questions on their ï ¬ nancial behavioural practice or attitude towards ï ¬ nancial affairs. The response format is a ï ¬ ve-point-Likert-type scale with â€Å"absolutely† and â€Å"not at all† at the two ends of the question spectrum. Subsequently, the questionnaire contains questions concerning socio-demographic variables such as age, gender, career stage, and education[3]. The age of participants ranges from 18 to 84 years old, with 58.9 per cent between 36 and 65 years old (n  ¼ 755). The natural demographic balance of men and women is reï ¬â€šected in the sample with 49.3 per cent men (n  ¼ 632) and 50.7 per cent women (n  ¼ 650). The proportion of people with a university degree or equivalent is 46.6 per cent (n  ¼ 598), whereas 33.8 per cent participants (n  ¼ 433) obtained an apprenticeship (up to ï ¬ ve years). There are 14.5 per cent participants (n  ¼ 186) who have a high school diploma as the highest educational level, whereas 5.1 per cent participants (n  ¼ 65) have only attended secondary school. There are 10.5 per cent (n  ¼ 135) participants who were studying at a university or at another institute of higher education at the time of our survey. Methodology and results Factor analysis As the ï ¬ rst step we conducted an exploratory factor analysis, a principal component analysis, in order to determine the underlying dimensions of the ï ¬ nancial attitudes and behavioural tendencies. The chosen solution with ï ¬ ve principal components was constructed using the varimax rotation technique and can explain 53.3 per cent of the total variance. Different opinions concerning what constitut es a high loading are found in the literature, e.g. 0.3 (Gardner, 2001). Here, the rotated factor loading of 0.5 was chosen as a threshold.