Managment Essay Example | Topics and Well Written Essays - 750 words - 1

Managment - Essay Example In simple words, sustainability aims to combat with the latest challenges by allocating the resources and energies for the short term period without putting the future developments into jeopardy. Thus, sustainability is basically seen by neoclassical economists as a problem of managing a nation’s portfolio of capital to maintain it at a constant level, either in toto or per capita. It includes natural capital, in principle, but it also allows for virtually unlimited substitution between man-made and natural capital (Pearce et al., 1990: quoted in Ayers 2000 2). Hence, sustainability looks into the canvas of business environment with a larger and long term perspective. However, it does not mean that it absolutely nullifies the long-term planning. On the contrary, it works out on current corporate scenario in such a dedicated way, by exercising best of skills and proficiencies that it indirectly creates long-term shareholder value by increasing opportunities and minimizing risk factors for the future years to come. Sustainability is essentially the continuity of the satisfaction regarding the fulfillment of basic needs; the same can be witnessed by elaborating the concept within corporate point of view, where it is actually the strategy devised and articulated to keep the ball of commercial activities rolling. The analysts divide sustainability into two different levels, which include weak and strong sustainability. Weak sustainability is the idea that natural capital can be used up as long as it is converted into manufactured capital of equal value. On the other hand, strong sustainability is the idea that there are certain functions that the environment performs that cannot be duplicated by humans.(Hart, Maureen 1998 3) In other words, the theorists argue that different forms of capital can be utilized by converting it from natural form into manufactured capital form. Consequently, weak sustainability measures the value of natural objects, beauties and c apital within a monetary perspective without taking into account its worthwhile status as the pure object of nature. For instance, mountains offer countless beauties and finances are generated from the tourists and visitors. Additionally, there are countless natural products that could be obtained from mountains and hills. However, the weak sustainability mere calculates the gains that could be generated by turning the hilly areas into plains. Thus, the narrow-sightedness of the notion appears to be unable to provide an in-depth analysis of the objects of nature and mistakenly regard them as the wastage of resources out of which huge money could be generated. Similarly, a forest full of trees contains the worth quite different from the estimation made by an entrepreneur. A value can be calculated if you assume that all the trees are cut down and turned into furniture or paper. However, the forest provides a home for wildlife that provides food for hunters. It also provides a place f or hikers to enjoy the natural environment. (Hart, Maureen 1998 5) On the other hand, strong sustainability refutes the very idea that natural capital are substitute to one another and hence can be estimated in terms of materialistic and

Strategic Operations Management Som Marketing Essay

Strategic Operations Management Som Marketing Essay Strategic operations management (SOM) isnt only about how an organisation manages effectively its day-to-day activities. Furthermore, it provides the organisation with long-term objectives as well as strategic decisions and actions to achieve those objectives. (Slack et al., 2007, p.63) SOM is vital to any organisation. It is the core determinant for the organisations success because it involves every part within the organisation. Moreover, it helps organisations to achieve organisational goal and gain competitive advantages. The four advantages of operations management (Slack et al., 2007, p.22) emphasise the importance of SOM: Helps organisations reduce cost and increase the efficiency in product/service production. For Toyota case, we all recognised one its vital competitive advantage is cost; this is the evidence that SOM helps Toyota reduce cost, increase efficiency. Increases revenue by increasing customers satisfaction through good quality and service (we can find Toyota also focuses on customers satisfaction and quality) Reduces the amount of investment required for increasing operations capacity and innovative resource deployment. In a competition world, a heavy industry like automobile always has to invest on discovering the new techniques to improve and hasten production processes. Being able to reduce these costs will help Toyota give competitive price. Provide the basis of future innovation through building a strong base of skills and knowledge inside the company. This is also important, because it will motivate Toyota to develop the capability in order to adapt with possible change in the future. Besides, SOMs importance can be clarified by the Top-down perspective of the four perspectives model: Slack et al., The four perspectives on operations strategy. Operations management, 5th ed., p.64 Top-down Perspective: the starting point of operations strategy. It supports corporate, business and functional strategies of an organisation. At corporate level, we can see Toyota positioned itself to global, economic, political and social environment (Slack et al., 2007, p.63). Itll help Toyota decide: The type of business they want to do The markets in which they will operate Allocation of cash between different businesses At business level, strategic decisions helps Toyota create business strategies that related to individual business units within the organisation. The business strategy will support these business units to focus on particular customer, markets and competitors. For example when we analyse the Toyota Corporation, we find this description: Toyota runs by 3 segments: The Automobile segment designs, manufactures and sells automobiles; The Finance supports relevant financial data; and the other is responsible for housing, information and communication. (The New York Times, 2012) So, we can see SOM in Toyota attaches individual business units to the corporate strategy by formulating the goals for individual business units. At functional level, SOM make different departments recognise and hence support the business strategy. Different departments such as: operation, marketing, RD would be managed to adhere to the business objectives. Generally, lets simplify the whole points by analysing Toyota Global Vision (Toyota-Global, 2012). Here, the corporate level decision focuses on: quality, innovation and human resources. Pass to the business level, business goals and strategic decisions are formulated, then Toyota will the specific performance objectives (quality, flexibility, cost). Finally, at functional level, different departments and functions will act accordingly through various techniques (JIT, TQM, JIT) and continuous process improvement, to meet the objectives given in business level. b) To understand Toyota from different perspectives, we should use Stakeholder Analysis to identify Stakeholders expectations in associated with 5 performance objectives (Slack et al., 2007, p.39)This table describe Toyotas 5 main stakeholder groups (Toyota-Global, 2012) and their expectation. Performance objectives Stakeholder types Stakeholders expectations Quality Customer Shareholders Society Quality of product/service, safe vehicles Speed Customer Shareholders Reduce throughput time and waiting time Dependability Customer Business partners On time delivery Flexibility Customer Suppliers Toyota Availability of different models to choose from Cost Customer Toyota Lower price and superior performance Lets analyse each group in detail: Customers: Customers expectation How Toyota addresses? Meet customers expectations? Quality Toyota strives to do thing right at the first time. With Total Quality Management (TQM) Toyota controls the quality from development, procurement, production to after sale service, while focusing on continuous improvement. Yes Opportunity to feedback and receiving of the information Listening to customer, giving timely supports. Yes http://www.toyota-global.com/sustainability/stakeholders/customers/quality.html Safety and reliability Offering modern technologies and information to prevent accidents such as: virtual human model, navigation system, audible system Recent recalls of 7 millions of cars because of faulty window switches may oppose this statement (Kollewe, J., 2012) http://www.toyota-global.com/sustainability/stakeholders/customers/safety.html Low price By applying effective techniques on processes, Toyota can lower the costs, thus giving low price to customers. (JIT, Jidoka, Lean manufacturing) Yes Dependability Toyota production system (TPS) helps on-time delivery Yes Flexibility Toyota offer a wide range of product Yes http://www.toyota-global.com/company/vision_philosophy/toyota_production_system/ Employees: Employees expectation How Toyota addresses? Meet employees expectation? Safety health Creating safe and healthy working environment Yes Pride Motivate and inspire the employees to work with full energy. Yes Confidence Guarantee a stable career and secured working conditions Toyota has sacked 350 workers in Australia (OConnor, P., 2012) this may cause some tensions for current employees. Equality in all aspects Emphasize mutual respect and harmony in work place. yes Opportunity Continuous develop HR yes http://www.toyota-global.com/sustainability/stakeholders/employees/ Business partners: Partners expectations How Toyota addresses? Meet partners expectations? Equal opportunity Giving equal opportunities for all suppliers, providing clear guidelines to potential supplier. Yes Fairness in receiving information All partners are well informed Yes Long term procurement Open-door policy to encourage fair competition Yes Stable relationship Mutual benefit based on mutual trust Yes Trust Unified cooperation with partners. Yes http://www.toyota-global.com/sustainability/stakeholders/partners/#policy Society/Communities: Society/communitys expectations How Toyota addresses? Meet societys expectations? Environment preservation Development of eco-friendly models. Reduce amount of CO2 in product, manufacturing, production process Develop recyclable material, resource and product Yes Safer vehicle Produce safe vehicles to prevent accidents Not really, because of the recent recalls. Innovation in life style Motivate activities concerned in environment preservation Yes. Other automakers (Honda, Ford, Mitsubishi) are influenced to produce this kind of product. (Schulte, M., 2012) http://www.toyota-global.com/sustainability/stakeholders/society/mobility.html Social welfare Social welfare programs Yes Jobs Provide employment opportunities to unemployed. Yes Infrastructure Infrastructure development activities Yes Traffic safety Education and training Yes http://www.toyota-global.com/sustainability/stakeholders/society/contribution.html http://www.toyota-global.com/sustainability/stakeholders/society/environment.html Shareholders: Shareholders expectations How Toyota addresses? What Toyota prioritises? ROI Sustainable profitability Respect for the agreements Respect and follow the laws Support the long-term vision for management Dividends and shares Dividends based on investment plans, business results, cash revenues http://www.toyota-global.com/sustainability/stakeholders/shareholders/ In addition, Globalisation has considerable influence on Toyota strategic operations management activities. Globalisation comes with plenty of opportunities as well as challenges (Slack et al., 2007, p.680). With the help of internet, Toyota can easily be available to worldwide customers, procurements and other transaction activities will become internet-based, which helps reduce cost and enhance quality control. Lets identify what challenges and opportunities of globalisation for Toyota: Greater competitions, wider range of customers demands, and partners around the world. Higher customers awareness and expectations Global value chains increasing complexity competition Higher knowledge of culture, behaviours is required Higher requirement of technology applications. Continuously increase of product standards Require more efficient and effective supply chains Require continuous improvement and innovation Having a clear view on the influences of stakeholders and globalisation to Toyota, we can clarify the SOM in different perspectives: Product/service perspective SOM in Toyota focus on transferability of products/services (Slack et al., 2007, p.681). This means Toyota guarantees their design compatible with different hobbies and attitude of customer throughout the world. Here, Toyota considers widening range of options to cope with different cultures and customers, the RD department will be commanded to design according to the customers expectation. The five performance objectives should be focused at the business level of strategy to gather and maintain customers loyalty. Toyota guarantees a reliable quality in every product with competitive price in order to satisfy customers expectations. Provide safety and reliable vehicles that inspire enthusiasm at affordable prices. (Toyota-global, 2012) Relationship with suppliers and other partners is important. Since its establishment, Toyota has sought to work closely with its suppliers in its manufacturing activities (Toyota-Global, 2012) Hybrid car is a good innovation and should be developed as it meets both customers and societys demand. Toyotas unique hybrid system combines an electric motor and a gasoline engine in the most efficient manner. It saves fuel and reduces emissions while giving ample power. (Toyota-Global, 2012) Manufacturing perspective Toyota should emphasize the quality in every product to enter global market. The TQM at Toyota is to ensure this. To compete with other automakers around the world, Toyota always find the ways to reduce costs, yet guarantee an acceptable quality. Again, the importance of partnership is justified, in associated with continuous development on: waste reduction, stock control, human skills, capacity planning and control, process improvement, etc. For example, Toyota pioneers the Lean manufacturing concept, a production method that focuses on reducing waste. Specifically, Toyota use common parts and designs for multiple product lines and reducing the number of suppliers, so that Toyota can buy parts and components at greater number, with lower cost. (Ann All, 2010) Localizing manufacturing makes Toyota effectively deal with different markets around the world. Now there are 51 bases in 26 different countries and regions. In addition, there are design and RD bases in nine locations overseas (Toyota-Global, 2012] Toyota should always make continuous improvement. Flexibility and dependability should be noticed in the manufacturing arena. Layouts of facilities need to be adjusted properly with the culture of particular region. Process technology development should be emphasized. Here availability of skills, serviceability and maintenance options can be exploited (Slack et al 2007 p681) Capacity and inventory planning and control are other areas to consider. Here Toyota JIT is helpful Administrative perspectives Toyota respects the different cultures and beliefs. Toyota is establishing a corporate culture with abundant vitality by fostering human resources that include a diverse range of individuals. (Toyota-global, 2012) Job design should be considered in globalisations. Here cost of labour, skill availability, cultural should be considered. (Slack et al., 2007, p.681) Business recovery plan should be developed to minimize the damage on reputation caused from risks. Supplier management should be considered to increase quality, and reduce cost. Toyota may develop knowledge management to increase knowledge base within the organisation. Environmental-friendly is highly considered in Toyota Because of the globalisation, Toyota may face the increases of new competitors, new products, low pricing, better quality. So, its important to promote continuous improvement principle, whilst avoiding errors (quality problem, employee sacks) as these will damage companys reputation. Task 02 For big organisations, global capability mostly came from their capability in manufacturing (Pepsi, Coca-cola). Then, Toyota would be also such case, as their success has been considerably contributed by manufacturing functions. (T., Ohno, 1988) shared a story about the strange growth at Toyota though many companies were suffering the economic recession. The operation way of manufacturing function was included in TPS. The two main concept of this system include Jidoka and Just-in-Time: where Jidoka guarantees of product quality through the prevention, in-time correction, and Just-in-Time is about reducing waste and speed enhancement in work processes. (Toyota-Global, 2012) Generally, Toyotas global capability came from the continuous development of various long-term objectives: TPS, efficient use of resource, human skills, waste reduction, customer focus, supplier network improvements, emphasis on quality and customisation, inbound logistic management, inventory control For clarifying the Toyotas competitive advantages, lets analyse through the five performance objectives (Slack et al. 2007, p 39) Performance objectives Competitive advantage How Toyota did it? Quality High quality The Jidoka helps prevent possible errors of product. The Lexus series are carefully done from the design, production, procurement, to the service delivery for customers. Good quality helps reduce the re-works, lessen the confusion, thus increase dependability, efficiency and reduce cost(Slack et., al, 2007) Speed Quick delivery Toyotas JIT principles, inventory control and inbound logistics management helps enhance the speed of production and delivery. The speed emphasis helps Toyota reduce inventories and risk (Slack et al., 2007) Dependability Reliable delivery Again, the JIT, planning and control systems help Toyota to provide on-time delivery, both to internal production process and customers. This helps Toyota increase efficiency operation, saves the time, money and gives stability to the company.( Slack et al 2007) Flexibility Production flexibility Mix flexibility Volume flexibility Delivery flexibility Wide range of product Toyota develops variety of attractive and practical models such as: Camry, Prius, Varis Toyotas R D division often design different models to satisfy different markets. Toyota is able to adjust the volume in production process. Toyota even can reschedule the manufacturing priorities. It would help the organisation to become agile, maintains dependability, and saves time. ( Slack et al 2007, p 47) Cost Low price Perhaps price is the strong competitive advantage of Toyota. Price is very important in automobile industry. However, effective cost reduction has been helping Toyota to provide favourable price. This make Toyota the leader producer in automobile industry. The performance objectives in Toyota could be illustrated by this polar diagram: Adapted from Slack et al., Operations management (2007), p.55 Besides, identification of the customers needs and expectations should be critical considered. Therefore, the order winning factors and qualifying factors could be appropriate to identify the competitive advantage of Toyota. Order winner is customers key reason for buying a product/service, while qualifying factor is the minimum competitive factors required to get the attention from customers (Slack et., al, 2007, p.69.). For Toyota the order winning factors include: standardized quality and design, low price, and dependability. Qualifying factors are: wide range of products, quick throughput-time and quick delivery to customers (speed) Adapted from Slack et al., Operations management (2007), p.69 In addition, different customers and markets have different expectation, so these factors would change according to that. For example, Lexus is a luxury series of Toyota, its target market is higher income people, therefore, the order winners would be: high quality, gorgeous design and qualifying factors are: acceptable price, quick delivery and reliable delivery. Task 3 Analysing the operation strategy at Toyota through Top-down perspective, we see that corporate level strategy lead the organisation to long-term objectives such as: innovation, waste reduction, continuous improvement Business level concentrates on performance objectives such as quality, cost, flexibility and dependability, and adapts the strategy according to the corporate objectives. And at functional level, different functions (manufacturing, RD, marketing) plan, execute and cooperate steps to achieve business objectives. These are evidences of how effective Toyota pursues its long-term objective: Toyota applies TQM, Kanban, JIT in production to achieve performance objectives. At the product/service segment, Toyota focus on innovation, quality and customer care (Toyota Code of Conduct, 2006, p.12) Finally, at administrative perspective, Toyota pays attention to: sustainable location decisions, long-term capacity management, continuous resource development and long-term supplier relations (Toyota Code of Conduct, 2006, p.12)). Here, we should notice that supplier relationship is important; Toyota should manage the first and second-tier suppliers effectively to work globally because advantages come from the close relationship with suppliers (Slack et al., 2007) These following concepts can be helpful to analyse Toyota Operation Strategy: Product Life Cycle (PLC) Product Life cycle Source: Marketing FAQ,What is Product Life Cycle(PLC)? 1. Introduction stage In introduction stage, when something new is introduced in the market, competitors will be few. Companies should develop flexibility to adapt with changes in the market (Slack et al., 2007) For example with Toyota case, a new great model Prius Hybrid has just entered the market. Assume it is in introduction stage, then customers who purchase this model would be innovators. This model seems to be well designed in shape and technology, so competitors are few, but may not exclude big competitors such as Mercedes, BMW, GM Then, the order winning factors here should be the design and qualifying factors should be quality, price. That means, Toyota should focus on design, and pay attention to quality and price. 2. Growth stage This stage is characterised by sales volume and competitors increase. The objective should be keeping up with demand expectations and ensuring the quality (Slack et al., 2007) Toyota will compete with competitors, order winners will be quality, speed and dependability (deliver according to the demand) to cope with increasing demand, and satisfying factors will be price and flexibility. We recognise that Toyota offers a wide range of product and price for different markets customers in order to attract different market segments. Lets take the case of Toyota Camry 2012, currently it is in growth stage and the target market is average income people. Its facing a rough competition with Honda Accord, both companies emphasize the quality. Though the quality, design, performance is somewhat similar, Honda is slightly better than Toyota. However Toyotas offering variety of same type products such as: Matrix, Sienna, Avalon providing more options for customers, which may yield more profits. (Halvorson, B., 2012) 3. Maturity stage In this stage, the demand has a sign to fall; some competitors withdraw from the market exclude big players. The concentration should be turned to price reduction. Here, company has to deal with cost, production and supply issues (Slack et al., 2007) Toyotas target customers now should be the mass market. Then, order winning factors will be low price, and dependability of supply. The qualifying factors are flexibility (various types of model) and quality. A wide range of product may bring some profits as Toyota already had different target markets. Consequently, Toyota should focus on cost reduction, dependability and expansion of market. We can see how Toyota applies this practice by the example of Lexus: Lexuss in maturity stage, which explains Toyotas efforts to offer a wide range of models: sedan, hybrid, SUVs which we can find in the link below: http://www.lexus.com/models/allVehicles/ 4. Decline stage Decline stage is characterised by: sales decline, more withdrawal, price competition and cost focus. (Slack et al., 2007). Here, customers are the people who follow new style late, and competitors will be less. Price war will happen and obviously, order winning factors will be low price, qualifying factors are dependability of supply. At this stage, Toyota should focus on reducing costs. Lets look at the Toyota Qualis model which had gone to the decline stage and it was replaced by the Innova. Toyotas trying to replace with Innova, probably they will sell the remaining Qualis with low price. (TNN, 2005. The Economic Times) Efficient frontier Toyota might use this approach to position its main performance objectives in order to achieve effectiveness in operation (Slack et al., 2007). With Toyota, the high variety will make the cost higher. There are some ways such as: innovation of sustainable products, increasing product life in the PLC, positioning of product at various stage in the PLC could help Toyota limit variety. In Toyota case, there are quality, cost and variety that need to be considered properly to increase the efficiency of product Adapted from Slack et al., Operations Management, 2007, p.78) Toyota can link the frontier approach with PLC to make rational decisions. Different PLCs stage requires different concentrations, Toyota may adjust its variety/quality/cost accordingly to adapt with the situation. For example, suppose Innova model reached Maturity stage in India, then Toyota would focus on cost reduction. Since Indians only prefer family car like Innova, variety should be ignored. Consequently, Toyota should sacrifice Variety to achieve cost efficiency. Toyotas competitive advantages overview Kanban System A unique method developed by Toyota. Here, JIT and Lean manufacturing are applied effectively. This method helps Toyota develop the production process speed and efficiency. Therefore they can avoid inventory, waste of resources, product error and other unwanted costs. Kanban system provides some benefits such as: waste reduction, inventory avoidance, error-free manufacturing, which help Toyota produce quality products with low cost, increase their competitiveness over other automakers. (Toyota-Global, 2012) Relationship with Suppliers Toyota understands the importance of having strong relationship with suppliers. As an integral part of Kanban system, suppliers are always up-to-date with new changes in Toyota. A lot of investments were done by Toyota to extend its supply network. As a result, Toyota is one of the organisations possess strongest supplier network in different areas of the world. The principal measure of supplier relations in the American auto industry is the OEM benchmark Survey that is published by John Henke of Oakland University. Suppliers rank auto manufacturers using 17 measures from trust to perceived opportunity. In the 2003 survey Toyota ranked first followed by Honda and Nissan, while Chrysler, Ford and GM were fourth fifth and sixth. The survey also showed that Toyotas scores had improved over 7% over 2002. Another automotive supplier survey published annually comes from J.D. Power. The 2003 survey found that Toyota, Nissan and BMW are the best North American automakers in promoting innovation with their suppliers. (David McBride, 2004) Valuable culture As a Japanese organisation, Toyotas management is highly concern with Japaneses culture. Here, the loyalty and pride is highly respected. Besides, Hofstedes 5 cultural dimensions shows Japanese is characterised by highly regarding hierarchy authority, uncertainty avoidance and long-term orientation. This leads to these following results: Employees willingly follow the command from managers, so the decision making process and the implementation of decision will be faster. The employees strive to get to perfection due to the high uncertainty avoidance. Every worker has their pride of their work, so they wont damage their own credibility. Long-term orientation leads every individual in the organisations to continuous development and perfection. These cultural benefits made employees at Toyota continuously develop themselves thus get better performances. Because of this, the cultural value is considered one of Toyotas strongest advantages. Task 4 Lets apply the SWOT analysis for the overall review on Toyota Favourable Unfavourable Internal Strengths Strong global presence Strong brand image Strong financial performance Effective marketing and distributions to different market segments. Toyota production system Continuous improvement and innovation Strong relationship with partners Weaknesses Heavily relied on imports for inputs Heavily depends on Japan and U.S. market. Recent recalls in 2010 External Opportunities Increasing demand for hybrid electric vehicle Enough capability to produce more quality, green, fuel efficiency products. Opportunities in Asian market. Threats Increase competition from other automakers. Uncertain economic condition Usual demand is gradually changing, due to the environmental and fuel price issues. Recommendation Toyota should focus on their hybrid technology as the demand increases and pay attention to green technologies. Thanks to their reputation of quality and innovation, these concentrations can help Toyota get an additional competitive advantage. The Build your Toyota is a great innovation; customers can customize their own model. http://www.shopatgst.com/gstbuildyourtoyota/default.aspx?zip_code=70000Vehicle=nullYear The RD section should always be invested properly as it will keep Toyota up-to-date with modern technologies. Note in mind that now the green, fuel efficiency technologies are most concerned with the society. Keep promoting its brand in key markets, and in new-developed countries such as Russia, China, Brazil, and India. The demand in these markets is increasing due to the improvement of quality of life. Governments of China and India have reduced taxed for automobile, this may be the chance for Toyota. Keep observing the competitors, while focusing on the quality factors to avoid mishaps (2010 recalling) that damage their reputation and market share. Toyota should consider applying vertical integration in the growing markets and improve the management of different portfolios. Conclusion As the leading manufacturer of automobiles market, Toyota has all the required conditions to continue their successful journey in the future. Though there are currently some disadvantages, Toyota can still improve by taking more responsibility in community, environment and society. References: Ann All, (2010). Did Lean Manufacturing Contribute to Toyota Recall? IT Business Edge. 29th Jan., 2010. [online]. Available from: [accessed 5th Oct., 2012] David McBride, 2004. Toyotas Extended Lean Enterprise. EMS Consulting Group. 1st Dec., 2012. [online] Available from: [Accessed 5th Oct., 2012] Halvorson, B., (2012). Toyota Camry Vs. Honda Accord: Compare Cars. The Car Connection. 11th Sep, 201. [online]. Available from: [Accessed 4th Oct., 2012] Kollewe, J., (2012). Toyota recalls 7m cars worldwide over window fault. The Guardian. 10th Oct., 2012. [online]. Available from: [Accessed 12th Oct., 2012] OConnor, P., (2012). Toyota Australia sacks 350 workers. World Socialist Web Site. 17th Apr., 20

The Importance of Fear in The River Warren :: River Warren Essays

The Importance of Fear in The River Warren      Ã‚  Ã‚  Ã‚   In Kent Meyers' The River Warren, the reader can detect many examples of symbolism. The basic theme throughout the novel focuses on the river. The River Warren, in its past and present state, means different things to each character in the novel. Many important scenes take place on the river and its banks emphasizing its importance. As the river winds through the land around Cloten in the story, its symbol winds through the lives of the characters and the lives of readers. Meyers stresses the river's significance to members of the community through each character's testimony and story. In the novel the river represents- symbolizes- is fear.      Ã‚  Ã‚   Everyone has some type of fear, and for each character in the novel this holds true. To Angel Finn, a dream of the river's past is admittedly exciting. On one specific night, Angel's fears are clearly presented on the river. He says, "I ain't been afraid on that river for a long time, spooked but never afraid...but I was surely afraid when I come around that bend...my heart kinda shriveled"(143). Angel has found his fear on the river. It is odd, though, that Angel usually goes to the river to escape from his fears. He says, "on the night river, everything seems far away, so far away it's come back around to being close, and a man can need nothing and want everything, and wonder what his life's all about at the same time that he knows"(3). Angel wonders about the meaning of life, but in reality, he knows what it's all about. Angel never mentions any family. All we really know about him is that he is a lonely hardware store owner who loves being on the river. W ho is he really? A lonely old man finding escape from life and loneliness fishing on the river. While on the river Angel meets and befriends two young boys, Luke and Jeff. To him, they seem to understand how highly the river should be valued. The three men treat the river as if it has a personality and holds some kind of dignified or sacred value to them. Angel explains himself when he says, "I know I don't know myself on the river, but I swear that it knows me.

Hazara History Essay

1. I’ve always been against the persecution of minorities 2. It has badly affected the image of the country throughout the world 3. More than 800 Hazaras have been killed only in Pakistan during the last decade Don’t confuse HAZARA with HAZARAWAAL HAZARA: the separate Persian speaking ethnic group mostly living in Afghanistan HAZARAWAL: The people living In HAZARA District, in KHYBER PAKHTUNKHWA province of Pakistan. HINDKU is their mother tongue. Theories about their origin: The first theory suggests that they are the descendants of Mongolians and Turks; this theory is supported by some of the historians as their facial features and many parts of their language and cultures resemble to those of the Mongols and central Asian Turks. The second theory suggests that they are the descendants of KUSHANS, the ancient residents of Afghanistan, who entered the northeast Afghanistan in the 2nd century. Another one tells that HAZARA are the heirs of Genghis Khan, who in the twelfth century invaded Afghanistan and destroyed almost the whole country. Some of his army was left which mixed with the locals of Afghanistan. Their population across the world * About 4 million HAZARAS living in Afghanistan, especially in the central mountainous region known as HAZARAJAT * Another 7 to 8 Lac population living in Pakistan, mostly in Quetta, Baluchistan province of Pakistan * Around 3 Lac HAZARAs travelled to Iran in the late 19th century. The History of their Persecution: According to the CIA world fact book, HAZARAS once were the largest ethnic group of Afghanistan, constituting 67% of the total population of the country. They lived in HAZATAJAT quite independently. When Amir Abdul Rehman took over of the country, he, in his mission of expanding the circles of his rule, subjugated the local HAZARAS, killing more than 60% of their population. Others were either enslaved or forced to flee Afghanistan. Here begins the history of their migration to Pakistan. 1. In Afghanistan * Reign of Amir Abdul Rahman (1880-1901) * Rise of Taliban (1993) 2. In Pakistan * Why are they persecuted? * Theories on the reasons why they spent a long time being persecuted * The role of secret and law enforcement agencies * My comments http://www.everyculture.com/wc/Afghanistan-to-Bosnia-Herzegovina/Hazaras.html#b http://dawn.com/2012/06/29/hope-fades-away-for-hazaras-of-pakistan/ http://tribune.com.pk/story/463711/quetta-violence-three-hazaras-gunned-down-in-separate-incidents/

Human Progress is Indeed Slow Essay

In the world today, people like to believe that they have evolved into societies of equality, justice, and fairness. Yet around the world there are many ‘modern’ societies that still treat women as second-class citizens. This is clearly evident in the novel Princess, the story of women in Saudi Arabia, introduced through the life of a Saudi Arabian Princess. Jean Sasson was asked by Princess Sultana to use her life to exhibit to the Western World how primitive customs still determine women’s roles in the Saudi society. In Princess, Sasson argues that lack of change in Saudi Arabian society is the cause of men’s mistreatment of women through her repetition and severe imagery. Throughout the novel, Sasson continually uses multiple synonyms of the term ‘public’ to emphasize the idea that society is the ruling force of the country. As various situations are described, Sasson uses several forms of this term for Sultana’s reactions, which emphasizes the importance of public input in Saudi life. The first appearance of this term is shown as Sultana talks about the beating of local wife and the response it receives. She says, â€Å"it is never the fault of the man in the Middle East†¦public congratulations are given from the man of the region for the fathers â€Å"notable† act of upholding the commands of the Prophet† (Sasson 46). Sasson uses the term â€Å"public† to show the reader that acts like this are socially acceptable. By focusing on this term, Sasson shows the reader how universal and unrestricted mistreatment towards women is. The word ‘upholding’ makes this oppression seem as though it is a recognized and encouraged practice that women have very little chance of avoiding because of society’s approval. Sasson shows that women must learn and keep their place in society because the public will always find women at fault, and defend the men. Sasson demonstrates how Saudi men are certainly the prominent sex in Saudi Arabia, but it is the public that gives them their power by allowing and even supporting their behaviors. Sasson then looks at a synonym of ‘public’, ‘social order’, to demonstrate the idea of ‘us versus them’, with ‘us’ being Saudi women and ‘them’ being the society at large. As Sultana begins to understand that she will be forced to fight for equality, the idea that the public will keep her in her place surfaces. She says, â€Å"I had no doubt that my life as a woman would be a perpetual struggle against the social order of my land† (Sasson 64). By changing the idea of ‘public’ to ‘social order’, Sasson creates this sense of a group that is in charge of the Saudi Arabian world. By incorporating ‘order’ into society, it makes reader feel as though there is a specific structure or classification that everyone in Saudi society must follow. It shows the reader that there are rules, though they may be harsh or unfair, that must be followed to maintain the integrity and sustainability of Saudi Arabia. By using the word ‘perpetual’, Sasson focuses on the idea that women will always have to battle against the system that gives men their power to keep women repressed. Throughout Princess, Sasson shows the reader how society is a dominating force and that it would first have to change before any other change comes about. To further broaden her idea of the Saudi Arabian public, Sasson uses the word ‘culture’ so that the reader gains an idea of how much influence the public has over its people. Very early in the novel, Sultana reflects on the history of her country and how it differs from many other sophisticated countries throughout the world. She says, â€Å"From my reading, I know most civilized successors of early cultures smile at the primitive ignorance of their ancestors† (Sasson 5). Sasson makes a jab at Saudi society, making them appear to be uncivilized and primitive. Rather than moving beyond the ignorance of past cultures, she represents Saudis embracing the old, obsolete, and nascent ideas. By including that cultures today ‘smile’ at the past, Sasson makes it seem like other countries in the modern world are amused by how old-fashioned Saudi Arabia still is. Again she points out to the reader that it is the Saudi public that instills men’s basis for their interactions with women. Sasson insets this observation very early in the novel in order to distill the idea that while most civilized countries have progressed beyond how their ancestors lived, Saudi Arabia is still living the way they always have, with men in total control. Sasson also continually uses the term ‘tradition’ to emphasize the continuation of customs in Saudi society. As Sasson looks into the life of her main character, she continually uses this term negatively to emphasize how it is the fault of these traditions that causes the unhappiness of Saudi women. She muses, â€Å"I was beginning to entertain the notion that some women might be happy in my land, in spite of traditions that do not belong in a civilized society† (124). Sasson uses tradition in an unorthodox way by making the readers see it as something damaging. Tradition in this case is not a happy family custom or religious ritual, rather it is an unfortunate habit of society that causes the discontent of Saudi women. Sasson also uses the idea that these traditions keep Saudi Arabia from becoming a civilized nation. She makes it appear that their civilization continues to exist in a world without advancement, education, or refinement. In order for women to achieve a level of happiness in their homeland, the customs and ideas must first change. Sasson includes this reflection to show the reader that by maintaining the same traditions for centuries, it is hindering women’s progress and allowing the continuance of a male dominated society. Another instance of this use of ‘tradition’ occurs when Sasson describes the process Sultana has to endure before her wedding. Even on what is supposed to be the happiest day of a woman’s life, Sultana still has to fight against the traditions of her society; â€Å"Muslims are equipped with hot water and soap†¦we no longer had to use dirt for such purposes. I loudly pronounced that if the Prophet could speak in this new age of modern amenities, I knew he would end such silly traditions† (Sasson 128). Sasson again incases the idea of tradition with something primitive. She makes them seem barbaric and crude, rather than modern. Her usage of Saudi Arabia’s holy man and the idea that even he would oppose the current practices emphasizes that they are archaic and unsophisticated. By referring to the traditions as ‘silly’, Sasson appears to be laughing at them, showing they are subject to mockery. She points out to the reader that regardless of how long a tradition may have been enacted in society, some need to be disbanded for the benefit and improvement of its people. Sasson inserts this outburst by Sultana to show the reader how ridiculous she finds the traditions of the land, and that even their highest religious leader would feel the same were he alive. As always, primitive customs determine women’s roles in Saudi society. Sasson uses imagery to further explain the idea that the people of Saudi Arabia are fixed as a society and there is little effort to change. These images are used to convey a picture as to how Saudi society is unchanging in its ways. Sasson shows the idle nature of Saudi society as she describes her reaction to arranged marriages; â€Å"This one issue alone proved that we Saudis were like uninspired mules; we trod the same weary track as the mules before is even if it led us to plunge off a cliff† (Sasson 128). As she describes this scene, the reader can see the repetitiveness and monotony that keeps any sort of change from reaching the women in Saudi Arabia. Describing people as ‘mules’ helps the reader to visualize the idea that Saudi people have no choice in what they do; it shows that their paths are simple and obstinate. Referencing an animal also makes the Saudi people seems like a less developed race. The uses of ‘trod’ and ‘weary’ show the reader how indifferent and oppressed Saudi women are within their society. She adds the phrase ‘plunge off a cliff’ so the reader can clearly see the detrimental effects of having a fixed path. This imagery allows the readers to see the people of Saudi Arabia trudging one behind another with no hope but to fall into the void their society has created. Sasson shows the reader that Saudi society seems comfortable in its ways and is unwilling to change. Another instance of this imagery occurs when Sasson describes Sultana’s life with her husband. As a married woman, Sultana has to follow both how society expects her to live, as well as her husband; â€Å"Our lives were fixed on a carefully charted course† (Sasson 154). This imagery allows the reader to see that it is not just the women who are expected to live a certain way, but the men as well. Sasson uses ‘carefully’ to make it seem as though someone sat and attentively determined the best way for couples to live. A ‘charted course’ helps the reader to see that couples have a blueprint for their life together; it’s as though they are on a voyage that is steering them in the proper direction. Society has established a specific way for its people to live, and they are expected to stay within the customary confinements. Again, Sasson instills this idea that Sultana is stuck, unable to move toward progress for women, emphasizing that she can do nothing but follow those before her. Sasson further uses imagery to show the consequences of falling out of the line society has created. When a friend of Sultana tries to fight against the rules that oppress her, society is there to keep her in her place; â€Å"A woman who had embodied the life and hope of our land, a women now living in utter blackness, without sight or sound to sustain her life† (Sasson 194). Sasson uses the term ‘blackness’ to illustrate that the girl was isolated and her life was in ruin. The ending clause allows the reader to visualize the complete solitude that this woman endured because she tried to change the set outcome of her life. From the ending clause, the reader can sense the hope this woman had and the desolation created from it. Sasson’s use of ‘embodied’ makes it seen that a single girl is holding the hope for a better life for women, yet that hope is being erased. By embodying life and hope, it indicates to the reader how important one woman’s actions can be for so many others. Society is determined to stamp out all of the women that do not follow the roles that have been assigned to them. Sasson demonstrates for the reader how women see hope for social change while men feel the danger of any change in a society that differs from the way it has always been. Through the novel, Sasson exposes the causes of mistreatment brought upon Saudi Arabian women in the form of cultural immobility. Her language in the text demonstrates how years of societal reinforcement has led to Saudi men’s rationality for treating women as a lower class of people. Sasson uses synonyms of the term ‘public’ throughout the text to remind the reader that this term is an underlying cause of women’s mistreatment. The usage of the term ‘tradition’ with a negative connotation helps the reader to understand that practices of the past are not always practical in present day and can deter social progress. She uses severe imagery to display the mindlessness of blindly following past generations. Sasson uses these tools to express that men’s oppression of women is due to the stagnant nature of Saudi society. Works Cited Sasson, Jean. Princess. Marietta, GA: Windsor-Brook Books, LLC: 2001. Print.

Platinum Essays - Chemical Elements, Transition Metals, Noble Metals

Platinum Essays - Chemical Elements, Transition Metals, Noble Metals Platinum subject = Chemistry title = Platinum Platinum is a relatively rare, chemically inert, metallic element. It symbol is Pt, atomic number is 78, and its atomic weight is 195.09. Platinum is one of the heaviest substances known. One cubic foot of Platinum weighs 21 times as much as a cubic foot of water. A grayish-white metal, Platinum has a melting point of 1772 degrees C and a realatively high boiling point of 3827 degrees C. It has a high fusing point, is ductile and malleable, expands slightly upon heating, and has high electrical resistance. Platinum is seldom used in its pure stage because it is too soft. The third most ductile metal, it can be drawn into a thread one twenty thousandth part of an inch in thickness. It is extremely resistant to attack by air, water, single acids and ordinary reagents, but does dissolve in hot aqua regia, a mixture of nitric and hydrochloric acids. Platinum has the unusual property of being able to absorb large amounts of hydrogen at ordinary temperatures and resist it at high temperatures. The first mention of Platinum occurs in the writings of an Italian physician and poet named Julius Caesar Salinger in 1557. A hieroglypic character made froma grain of Platinum dated back to the 7th century. Credit for discovery of Platinum has been given to Don Antonio de Ulloa, a young lieutenant in the Spanish Navy. The metal was referred to as the "platina de Pinto", meaning the siver like metal from the Pinto River. The first thorough study of Platinum was conductd in1750 by the English physician William Brownrigg. Brownrigg noted that Platinum was heavier and even more chemically inert than Gold was. Platinum forms useful alloys with many other metals, including Iridium, Palladium, Rhodium, Ruthenium, Osmium, Gold, Nickel, Cobalt, and Tungsten. At high temperatures Platinum also reacts with Chlorine, Fluorine, Phosphorus, Arsenic and Sulfur. Among the transition metals, Platinum has the greatest tendencies to bond directly with Carbon. Platinum is used extensively in modern industrial society because of its chemical inertness, high melting point, and extraordinary catalytic properties. platinum is valuable for laboratory apparatus, such as tongs, combustion boats, crucibles and evaoporating dishes. It is also used for thermometers in furnaces, for electrodes in making quantitative chemical analyses, and for corrosion and heat-resistant instruments. Platinum is used extensively in the jewelry industry for setting diamonds and other precious stones. Rocket and jet engine parts often contain Platinum alloys because they must withstand high temperatures for long periods of time. At petroleum refineries, finely divided Platinum is used as a catalyst in upgrading the octane of gasoline. In automobiles, converters containing Platinum-Palladium alloys reduce air pollution from exhaust gases. High quality optical glass for television picture tubes and eyeglasses is melted in pots lined with nonreactive Platinum alloys. A form of Platinu m,cisplatin, stops cancer cell division and disrupts its growth pattern.

Our New President essays

Our New President essays The election is to close to call who would be our new president. The presidential election was one of the wildest and closest in U.S. history. On November 7, all of America was expecting a new president. It turns out that Florida had to do another recount because there had seemed to be a problem in the paper that was used to vote. It had shown that George W. Bush had won, but since the recount was so close the Democratic Party officials asked for the votes to be counted again, this time by hand. As we all know that George W. Bush was finally announced that he was the president of the United States of America. I see a very positive future for George W. Bush as being president. I see this because I like the way he acts in front of other people, unlike Al Gore he tries to impress America by taking his family out to get some ice cream. Also I like how he doesnt smooch with his wife on live television because to me I think that sets a bad example on how to act in certain ways at a specific time because there is a time a place for that kind a stuff. During the first debate (the one where you made us watch for extra credit), I saw that George W. Bush was the right man for this country because he explained things in a very calm sentence and he didnt refer to his opponent on how his campaign ideas were better than his. I also heard that he is a Christian and that he was the governor. I voted for him because I had prayed and asked the lord to show me whom to choose. It also seems t hat he has had plenty of experience; then again Gore has to. Im not sure if George W. Bush said this, but I believe he said that taxes would also go public schools and private schools, so Im happy for that. So, the future that I predict is pretty amazing because I hope to see more private schools with a lot more money. I also hope to see that abortion does not become a normal thing and that it wont carry on ...

Tu Quoque (Logical Fallacy) - Definition and Examples

Tu Quoque (Logical Fallacy) s A type of ad hominem argument in which a person turns a charge back on his or her accuser: a logical fallacy. Also called the you too, the two wrongs, or the look whos talking fallacy. Pronunciation:  tu-KWO-kwayAlso known a s:  the two wrongs fallacy, the pot calling the kettle blackEtymology:  From the Latin, you too For a broader definition of tu quoque  arguments, see examples and observations below.   Examples and Observations: It is clear that a tu quoque response to an accusation can never refute the accusation. Consider the following: Wilma: You cheated on your income tax. Dont you realize thats wrong?Walter: Hey, wait a minute. You cheated on your income tax last year. Or have you forgotten about that? Walter may be correct in his counter-accusation, but that does not show that Wilmas accusation is false.(William Hughes and Jonathan Lavery, Critical Thinking, 5th ed.  Broadview, 2008) Recently, we highlighted a British journalist’s story about the underside of Dubai’s startling ascent. Some in Dubai called foul, including one writer who wants to remind Britons that their own country has a dark side. After all, what to think of a country in which one-fifth of the population lives in poverty? (Dubai’s Rebuttal, The New York Times, April 15, 2009) The tu quoque fallacy occurs when one charges another with hypocrisy or inconsistency in order to avoid taking the others position seriously. For example: Mother: You should stop smoking. Its harmful to your health.Daughter: Why should I listen to you? You started smoking when you were 16! In this example, the daughter commits the tu quoque fallacy. She dismisses her mothers argument because she believes her mother is speaking in a hypocritical manner. While the mother may indeed be inconsistent, this does not invalidate her argument.(Jacob E. Van Vleet,  Informal Logical Fallacies: A Brief Guide. University Press of America, 2011) A Broader Definition of Tu Quoque The tu quoque argument or you too argument, according to the broader account, can be described as the use of any type of argument to reply in like kind to a speakers argument. In other words, if a speaker uses a particular type of argument, say an argument from analogy, then the respondent can turn around and use that same kind of argument against the speaker, and this would be called a tu quoque argument . . .. So conceived, the tu quoque argument is quite a broad category that would include other types of argument as well as ad hominem arguments.(Douglas N. Walton,  Ad Hominem Arguments. University of Alabama Press, 1998)   The Childish Response Of all human instincts, not even the urge to say I told you so is stronger than the response called tu quoque: Look whos talking. To judge from children, it is innate (Cathy says you took her chocolate, Yes but she stole my doll), and we dont grow out of it . . .France has led calls for pressure to be put on the Burmese junta at the security council and through the EU, where foreign ministers discussed the issue yesterday. As part of the push, it has tried to enlist a recalcitrant Russia which, conscious perhaps of Chechnya, has no great wish to be seen criticizing anyone elses internal affairs. Hence a Russian ministers response that the next time there were riots in France he would refer the matter to the UN.This reply was at once childish, irrelevant, and probably very gratifying. (Geoffrey Wheatcroft, The Guardian, Oct. 16, 2007)

School change Essay Example | Topics and Well Written Essays - 1750 words

School change - Essay Example The school discussed in the paper is of elementary level so the points discussed will relate to this specific system only. Most of the people are aware of the basic image portraying a school girl or boy getting a bad result card or report. What happens if the result is given out directly to the students? More than often the child scared of the consequences either hides the report till the time to hand it back or may even destroy it. Some of them will return it to the teacher with forged signatures of their parents and both the school and the parents are unaware of the fact that the students are misusing the trust. Through this method which is mostly used by the schools it is most likely that the information is lost. Even the data of the students is easily tampered in the schools website or online data. Keeping in view of the lapses that may occur schools need to devise more appropriate communication plans that will lead to a beneficial mutual bond with in the community. The existing form of sending the report cards home and compiling the data is now out of date and extremely risky. The first step is to analyze or assess the basic need of how the communication channels can be built between the parents and the school. Survey on the need of communication will be conducted. This survey will have questions or address issues where people can provide their feedback. It will be sent with a letter addressing all those who are willing to give their time for the survey. The letter will be from the Principal of the school and will have the mission and vision statements available along with a brief idea about the schools objectives and goals. The forms thus collected will become the basic data from which further steps will be developed. Secondly the school will invite people for an in-house session where the Principal of the school will address them and share the concerns the school has

Corporate environmental management (Business Subject) Assignment - 1

Corporate environmental management (Business Subject) - Assignment Example Xerox was fortunate to have many of these business ethics in place in the European operations already, and leadership with the vision to capture the competitive advantage that good environmental stewardship might provide. Besides, it was the right thing to do. Because Xerox had earned a large share of the copier market, the Federal Trade Commission required Xerox to abandon its patent to allow more competition. Xerox lost market share and was forced to reorganize to liven the company. Nine divisions were created which largely acted as separate companies. But each specialized company became closer to their customers and could respond to the market more quickly. Through the years, Xerox became more involved in local environmental issues and supportive of environmental health for their communities. From the total quality management (TQM) program established in the early 1980s, Xerox moved to a TQM for environmental issues. Now, the employees would be involved in stewardship of the syste m. Five programs were initiated: cartridge recycling; supplies; asset management; waste reduction and recycling; and employee involvement. The big idea involved minimizing the environmental impacts of the supply chain through the life cycle of the products. This implementation required each machine, part or shipping material to have a secondary purpose or a recycling design use. The company adapted the Environmental Protection Administration program to reuse, repair/reprocess recycle or dispose of properly, in that order. Asset Recycle Management (ARM) policies were adopted to organize the effort to reuse and recycle. Machines were handled in house while cartridges and parts were remanufactured by suppliers. The next evolution of the process was Design-For-Environment (DFE) which involved engineering each component with the lifecycle in mind. Each component’s raw materials and design would involve the choice of recyclable materials or reusable parts. The stated goal was 0% wa ste in the manufacturing processes for any new product by 1997. Obviously, a very lofty goal even today. The measurement of this goal involved a minimum 90% reduction in waste. The evolution of this business ethic required only 30 years. Xerox accepted a leadership role in environmental stewardship. Is this an appropriate goal? Xerox followed proper management techniques to reduce regulatory impacts and market its leadership of environmental citizenship. Considering the increased demand for government intervention in environmental stewardship regulations and the personal tragedy of contaminating their neighbor’s groundwater, Xerox acted responsibly to take a leadership role and mitigate any potential damages. Then, one step further, tried to eliminate future risks. Looking at environmental stewardship as a risk management tool, simple compliance, due diligence and integrated risk management are the options offered to corporate management. Simple compliance implies a change in process each time a new level of compliance is mandated. Due diligence implies staying one step ahead of new compliance levels. Risk management suggests retooling operations to eliminate as much environmental risk as possible to reduce the regulatory risk. Risk management is a sound business strategy; environmental stewardship is a sound ethic which can be exploited in marketing. Where on the matrix of strategies does Xerox belong?

New concept of Marriage Essay Example | Topics and Well Written Essays - 1250 words

New concept of Marriage - Essay Example Marriages are different depending on the tradition and culture of the spouses and they are carried out differently. In most African and even Asian culture for example, the beginning of a marriage is the paying of the dowry to the bride’s parents as a token of appreciation essentially which is soon followed by a traditional wedding ceremony which can be solemnized later in church or not. The whites do not care so much about the issue of bride price or paying dowry and most do not even officially seek a formal hand in marriage from the bride’s side of the family. They simply move to the wedding part and the marriage soon begins. Research has verified this by indicating that in Africa, over 60% of marriages have dowry payment paid while in Europe and America, the figure is less than that and the majority are the African-Americans (Peterson and Bush 685). It is an open secret that the rate of divorce among the whites is way higher than it is among the Africans and Asians as indicated in the article in The Economist by its editor, (2011) which explains that divorce rate in Asia is only about 2per every 1000 while in America in 3.7 and in Britain 3.4 for every 1000. Others argue that this is because of the lack of a staunch tradition on the part of the spouses and especially in engaging the parents of the spouses in the affair. For the Africans for example, during the traditional marriage ceremony and preparations and before the bride or groom is handed over to their significant other, the family and especially the same sex parent has serious discussion with the bride or groom about what marriage entails and what will be expected of them in terms of fulfillment of roles and duties and how to engage in all these. These are called trading secrets of the ups and downs to expect and how to handle each and every one of them. By the time they are officially starting the marriage, each party is aware of the reality

Analysis paper Essay Example | Topics and Well Written Essays - 500 words - 1

Analysis paper - Essay Example that is taken care of or is valued even if taking care of it costs the caretaker important things in his/her life; in this case, the relationship between the American and the girl. This is evident from the confession of the American to the girl he has made in this sentence, â€Å"That’s the only thing that bothers us. It’s the only thing that’s made us unhappy† (Hemingway). It is apparent from the dialogue between the two that while the American is not directly telling the girl to undergo abortion, he is indirectly pushing her into this act by constantly suggesting that a lot of people go through the operation and it does not cause any harm. On the other hand, the girl seems to be reluctant to contemplate the operation. This is suggestive of a liking for the unborn baby by the girl and a dislike by the American. Similarly, while the girl can see the mountains as white elephants and appreciate their beauty, the American does not seem to relate to the white mountains in any way as he says, â€Å"I’ve never seen one† (Hemingway). The girl says to the American, â€Å"No, you wouldn’t have† (Hemingway). This attitude is typical of girls. When a man does not seem to understand or approve of something that is of huge significance to women, women say that the men cannot understand because only a woman can understand the importance of that thing. For example, it takes becoming a mother to understand the warmth and passion with which a mother loves her child; a man can never understand this love because he can never become a mother. In response to this, the American says, â€Å"I might have†¦Just because you say I wouldn’t have doesn’t prove anything† (Hemingway). Now this is an attitude typical of men. They are too egoistic to give up even if they actually don’t know about something. The girl has a number of reasons to want the baby just like the American has them to not want the baby. The American does not want the child probably because it takes a lot of

The connection between happiness and religion in general and the Essay

The connection between happiness and religion in general and the positive correlation therein - Essay Example The purpose of the essay is to investigate the connection existing between happiness and religion. Happiness and religion exists mainly because many, if not all, of the religions tend to focus on the minds of the followers. Studies have revealed that while not many religions may explicitly express their full support or agreement to positive psychology, many embrace it. That is to say, the components of positive psychology are normally applied in many of the religious teachings though without using the same terms. In positive psychology, the central ideology is focusing on the positive even when faced with an enormous challenge. Similarly, in many religions, the followers are encouraged to rely on a being capable of helping them with the challenge. Therefore, when this happens, the people feel the burden is not insurmountable and tend to hold a positive attitude. Consequently, the religious people are compelled to remain positive in the midst of challenges. It is after remaining positive that religious people exhibit happiness since one’s psychological state is imperative to happiness. Notwithstanding these assertions, there is a disparity when it comes to the role played by religion in various social classes. For instance, the poorest people in the society may attribute much of their success to religion unlike the others who, despite holding religious beliefs, may take credit. In short, religion does indeed influence happiness but in different capacities depending on the class of people involved. Religious individuals of higher status in the society may not always ascribe to religion as their source of happiness. Conversely, the others who cannot in any way control their lives will most likely rely on the beliefs and practices to find insurance, happiness and satisfaction in religious places. In light of the above, it is evident that even though religion does indeed have a significant impact on one’s happiness, it

Assignment 6 Essay Example | Topics and Well Written Essays - 500 words

Assignment 6 - Essay Example The issue was about a bill filed in the Congress of the Philippines of making Reproductive Health Services available to the general population. The argument was that, there is a high mortality rate of birth related deaths among impoverished mothers and such, mothers should be educated about birth spacing to reduce birth mortality and be given the means if they chooses to reduce their family size. Also, it was pointed out that the country being poor, where half of its population lives below poverty line and 21 % among them experiences hunger, family size should be managed according to their income. This can be done through the popular introduction of several methods of pregnancy prevention, including the usage of condoms and birth control pills. It was also discussed that condom can be used to stop the balloning HIV infection in the country which had exponentially increased in the last couple of years. This was however vehemently opposed by the Catholic hierarchy, and even went as far as threatening to excoummunicate the President of the Republic should he support the said bill.

The connection between happiness and religion in general and the Essay

The connection between happiness and religion in general and the positive correlation therein - Essay Example The purpose of the essay is to investigate the connection existing between happiness and religion. Happiness and religion exists mainly because many, if not all, of the religions tend to focus on the minds of the followers. Studies have revealed that while not many religions may explicitly express their full support or agreement to positive psychology, many embrace it. That is to say, the components of positive psychology are normally applied in many of the religious teachings though without using the same terms. In positive psychology, the central ideology is focusing on the positive even when faced with an enormous challenge. Similarly, in many religions, the followers are encouraged to rely on a being capable of helping them with the challenge. Therefore, when this happens, the people feel the burden is not insurmountable and tend to hold a positive attitude. Consequently, the religious people are compelled to remain positive in the midst of challenges. It is after remaining positive that religious people exhibit happiness since one’s psychological state is imperative to happiness. Notwithstanding these assertions, there is a disparity when it comes to the role played by religion in various social classes. For instance, the poorest people in the society may attribute much of their success to religion unlike the others who, despite holding religious beliefs, may take credit. In short, religion does indeed influence happiness but in different capacities depending on the class of people involved. Religious individuals of higher status in the society may not always ascribe to religion as their source of happiness. Conversely, the others who cannot in any way control their lives will most likely rely on the beliefs and practices to find insurance, happiness and satisfaction in religious places. In light of the above, it is evident that even though religion does indeed have a significant impact on one’s happiness, it

Swansea Dockland Heritage Society System Specification Coursework

Swansea Dockland Heritage Society System Specification - Coursework Example Lastly it can take advantage of the available internet technology that is constantly evolving. This system has basically automated the manual system and this is a complete change over for the organization. Automating registration and member activity has ensure that the system benefits the museum. The system stands to benefit the organization in two major ways. First, it broadens the scope of the organization and at the same time acts as an effective marketing tool for the organization. This places the organization directly to benefit from the expanded market view and hence a rise in the member subscription. The number of users who will subscribe to the service will eventually buy the book and non book objects. Another intangible benefit is the service that the organization can offer to the increased member subscription. It can start promotions where users can buy coupons and also organize group visits to the

Interaction nexus between real estate market and macroeconomics

Interaction nexus between real estate market and macroeconomics In this chapter, I will review the existing researches about the interaction nexus between real estate market and macroeconomics while analyzing and summarizing the data structure and the methodologies used. Considering Chinas specific national conditions and policies, I will shed light on Chinese housing empirical studies, and estimate their research from different economic aspects, expecting to provide a useful perspective for my further research. Housing price is the price formed by both supply and demand sides in the real estate market. According to the fluctuations in property prices in each country, housing prices generally have three characteristics: periodicity, city differences, and bubble. Periodicity refers to how real estate price fluctuations are cyclically or periodically associated with both microeconomic and macroeconomics fluctuations. Early in the 1960s, after Richard Muth (1960) rigorously developed a housing market competitive theory, a lot of economist studied the housing market from the perspective of microeconomics. In 1969, under a lot of assumptions, Olsen (1969) found that if the housing market were perfectly competitive, the poor would not pay more per unit for housing. However, in the survey done by Richard Arnott (1987), which reviewed the microeconomic modeling of the housing sector developed at that time, it was found that even if the competitive theory of housing market is reasonably sophisticated and well developed, it is still hard to ascertain the adequacy of it in explaining the effects of a particular housing policy since there are no well-articulated alternative models. Then, in later years, scholars focused more on the study of the relationship between the real estate market and macroeconomic fundamentals. According to business cycle theory, there is interaction between real estate prices and macroeconomic fundamental variables. One or more macroeconomic variables will cause fluctuations in real estate prices, but, in the meantime, changes in the real estate industry also will lead to macroeconomic volatility. In the change process, they formed a mutually reinforcing interaction mechanism. On the basis of the existing literature, macroeconomics affect real estate prices primarily through the real estate supply and demand, which can be subdivided into GDP, income, consumption, interest rates, exchange rates, inflation, construction costs, land prices, bank credit, and other basic economic variables. In order to understand the impact of real estate price fluctuations on the macroeconomics, most existing studies analyzed from the perspective that the prices affect total consumption and total investment. Since there is a close relationship between real estate prices and macroeconomic volatility, the empirical research of their interactive relationship has always been very important in the field of economics. At present, the relevant research literatures can be divided into two categories: (a) The first type mainly analyzes the relationship between real estate prices and the whole macroeconomic fundamentals; (b) The second type analyzes the relationship between real estate prices and one or several specific macro-basic variables (GDP, income, interest rates, investment and so on). We will now detail the two types. 2.2 Housing prices and macroeconomic fundamentals The real estate industry has become a mature industry in many developed countries. According to existing literature, most of the economists empirical research is derived primarily from the perspective of equilibrium theory. Based on the traditional regression analysis model, they used more independent linear systems, numerical economic models and others to analyze the dataGenerally speaking, the macroeconomic fundamentals will affect the investment, credit, and also, the change of interest rate will affect the supply of real estate. On the other hand, economic growth will affect the income and thus affect the demand for real estate. According to equilibrium theory, under the market competition mechanism, the market will eventually be cleared through real estate prices. However, Case and Shiller(1987, 1989, 1990) found that the housing market does not appear to be very efficient; it is contrary to the efficient market hypothesis. Then, in Clapp and Giaccottos study (1994), they not only confirmed Case and Shillers (1987, 1989, 1990) result but also found macroeconomic changes have a good predictive ability for real estate prices. Clapp and Giaccotto (1994) used the data of East Hartford, Manchester, and West Hartford over the period from October 1, 1981, to September 30, 1988, with 2 methods: the repeat sales method and the assessed value (AV) method. They found that the local unemployment and expected inflation have considerable forecasting ability for the housing prices; and compare with the first-time house, the repeat housing index is more sensitive in the short run due to the lagged economic factors; It showed the housing market does not meet the efficient market hypothesis (Clapp and Giaccotto, 1994). With a much longer data set than common literature, Holly and Jones (1997) provided a more comprehensive perspective on the behavior of housing prices in UK. In order to seek the co-integrating relationships between housing prices and long run, they ran a regression with the housing prices and economic factors such as real income, the user cost, and building society lending. The results showed that, with the exception of population, almost all the factors were rejected at the 1% level in the unit root test, and that the most important determinant of real housing prices was real income; the dynamic adjustment of housing prices is asymmetrical; it depends on whether housing prices are below or above the long run equilibrium. When housing prices are above equilibrium, they seem to adjust back more quickly (Holly and Jones, 1997). But, Brown, Haiyan, and McGillivray (1997) thought that since the early 1980s, the UK housing market had suffered a number of structural changes; consequently, the parameter was instable, meaning those models that assume the underling data-generating process are not appropriate. Under an assumption that the economic system is unstable, they adopted the Time Varying Coefficient (TVC) methodology, and found TVC specification outperforms the alternative constant parameter specifications of housing prices. Because most of the models have failed to predict the 1992 housing price downturn, part of further research was planned to use the TVC specification to examine the models forecasting ability beyond 1992. Using the data in the past 25 years of 6 European countries (France, Germany, Italy, Spain, Sweden and the UK), Iacoviello (2002) established dynamics of house prices by using a tractable value at risk framework in a straightforward way, which we call SVAR model. He pointed out that house price inflation is highly sensitive to the forces driving economic fluctuations; different housing and credit market institutions play different role in the IS-LM Phillips curve paradigm, but this relationship might change with the changing of institutions; in addition, regulatory legal structure and new monetary policy also will affect that relationship (Iacoviello, 2002). Similarly, using the SVAR model, DeHaant and Sterken (2004) studied 13 developed countries real estate markets. Their results showed that, to one country, compared with stock, housing plays a more important role in consumption and output; when housing price raise 1%, consumption will raise 0.75%; when housing price raise 1.5%, GD P will raise 0.4% (DeHaant and Sterken, 2004). In the Asian market, Quigley (2002) pointed out that, although most of the existed models can generate patterns of housing price changes over time in response to varying conditions in economic fundamentals, there was little research on the effect of changes in property markets upon subsequent economic conditions. With his empirical study, he determined that economic fundamentals do not explain most of the variation in the housing prices in short run, and that there were many bubbles in Asian property market during the late 1990s (Quigley, 2002). At the same time, Miki Seko (2003) adopted the SVAR model to analyze the Japanese housing prices. In his paper, the results showed there is a strong relationship between Japanese housing market and its economic fundamentals; and by analyzing the economic factors, the development of the real estate market can be predicted (Miki Seko, 2003). It is clear that housing is not just a normal consumption goods, it is a large share of the overall macro-economy. Significant fluctuations in macro-economy would cause significant volatility in housing market. On the other hand, the volatility in housing market also implies the fluctuations in macro-economy. However, the interactive nexus between housing market and the different aspects of macro-economy is different. Thus, besides the studies that analyzed the macro fundamentals-housing market, some economists study from different angles to examine the interactive nexus between housing market and one or several specified macro variables. 2.3 macro-basic variables 2.3.1 Supply and demand Theoretically, price is determined by supply and demand sides. In the housing market, the relationship between supply and demand is formed by many macroeconomic factors, and with the changes in these factors, supply and demand continues to change. Therefore, some economists thought the greatest impact on housing prices comes from the supply and demand, and have dedicated their research in this area. Normally, in the real estate industry, the supply side is mainly affected by land price, facilities costs, construction tax, construction exploration and design cost, and so on. And, among them, land price is the most important factor. Since housing is a product, it is not just a demand price, but also a supply price. In the real estate economic activities, land purchase and development is the beginning and the foundation, and land purchase cost is the most important part of housing costs. From the supply perspective, the land price fluctuations are an important factor in housing price volatility. On the contrary, due to land supply is restricted by the natural; there is a lack of flexibility. Therefore, land price is mainly decided by its demand side, which is mainly composed by the real estate business. The real estate industry has a huge impact on the land market as well. In order to examine the interactive nexus between housing price and land price, Peng and Wheaton (1994) analyzed the Hong Kong market. Because Hong Kong is a small island with a fixed boundary, it would be clear what the influence of land supply on housing prices. Using a modified stock-flow model, their results showed that the supply restrictions in Hong Kong have caused higher housing prices but not lower housing output (Peng and Wheaton, 1994). Similar outcomes can be found in Alyousha and Tsoukis (1999) study. They employed the quarterly data from England and Wales from the period Q1, 1981-Q2, 1994 to explore the implications of intertemporal optimization for house and land prices (Alyousha and Tsoukis, 1999). Adopting a simple housing flow supply model, which is based on the Euler equation (Hall, 1978), they found that, under a perfect competition, house prices are co-integrated with land prices and house building costs. But, through the Granger test, Hall (1987) found housing price is not the land prices cause. Also, after an econometric analysis of American cities, Edward, Joseph and Hilber (2002) determined that land price was positively correlated with regional economic development, the level of human capital, and have no direct relationship with housing price. As for demand side, existing research usually examined from the aspects which are disposable income, GDP, property taxation, population and so on. There is a large diverse literature related to the housing and taxation because it is clearly that property taxation would directly affect the housing purchasing decisions, and further affect the housing demand. Just like United States, the tax system seems to favor housing ownership in many countries. Thus, Dimasi (1987) employed a computable, spatial general equilibrium model; and found out that differential tax treatment on land and capital can cause a significant social welfare loss. Many other general equilibrium models also found out tax policies that favor the housing sector would lead to a significantly negative impact on both housing sector and aggregate income. From another special perspective, Mankiw and Weil (1989) examined the relations between demography-induced changes in housing demand and real house prices in the United States. They thought that the Baby Boom generation into its house-buying ages was the major cause of the increase in housing prices in the 1970s and the housing demand would grow more slowly in the next decade because of the population structure. Changes in housing demand will further affect the housing price (Mankiw and Weil, 1989)). However, unlike the estimations of Mankiw and Weil (1989), Gary and James (1990) using postwar data from Canada, and found that even if the demographic patterns were similar in Canada and United States, the aggregate time series correlation between shifting demographics and real house prices is distinctly different. From the empirical analysis, they considered there is a statistically insignificant, but in most cases, demographic demand is negative associated with house prices (Gary and James, 1990). 2.3.2 Monetary policy Generally speaking, as an overall policy, monetary policy is mainly concerned to control the trend and fluctuations of aggregate demand; the impact on the real estate market and the sensitivity of the housing price should be limited. However, as the changing in the structure of global financial markets and developing in real estate industry, the nexus between them has become more and more close, financial sector has become an important reference index in the housing market. It is also proved in Alan, John and Brians (2005) study. They found, in eighteen major industrial countries, certain financial conditions (ample liquidity, low interest rates, and financial deregulation) were usually present in past housing price surges, and could conceivably raise the probability of the intensity or the occurrence of the rise. As for interest rate, considering from the supply side, when it decline, real estate investment and real estate mortgage loans will continuously pour into the real estate industry, and promote housing prices continuing to rise. But, as for the demand side increasing in interest rates will directly affect consumers credit repayment costs; so that some consumers would out of the housing market, which affecting the real estate demand, and further led to corresponding changes in real estate prices. By studying the impact of real and nominal interest rates on real estate prices, Harris (1989) thought that changes in real interest rates could explain the market price level; nominal interest rates affect housing price only when the real estate value is expected to rise. Among the monetary policy, bank credit and investment are the most important determinates. As the real estate industry is capital-intensive industry, and most of the funds come from the bank credit and investment, the change in bank load will significantly affect the supply of real estate industry. Besides, a large part of real estate loans are mortgage loans, the value of real estate products in the market determines the size of the loan amount in this industry. In 2004, Davis and Zhu (2004) discovered, in the long term, bank credit is positively correlated with house prices, and effect of housing price on the bank credit is very significant, but in their paper, the reverse impact was still uncertain. Matteo (2005) developed and estimated a monetary business cycle model with nominal loans and collateral constraints tied to housing values. Since collateral effects allow the model match the positive response of real spending to a housing prices shock, Matteo (2005) found fall in the housing prices will reinforced the impact negative monetary shock on real rate, consumption and output. Similarly, based on the Hong Kong sample, Gerlach and Pengs (2005) thought property prices would determine bank lending, but, it was interesting that they found bank lending does not appear to influence property prices in Hong Kong. 2.3.3 Cycles Empirical evidence shows that there is a cyclical movements and volatility in the housing market, and obviously, this kind of cyclical movements would relate to the economic cycles. Economics found that it would be useful and interesting to explore these movements in the housing market, thus many studies examined the housing-economy cycle relationship from both qualitative and quantitative aspects. Greenwood and Hercowitz (1991) and Baxter (1996) build up a dynamic general equilibrium models to reproduce the co-movement of business and residential investment that observed in the US. Davis and Heathcote (2001) also considered that, in the US, the residential investment lead the cycle while the non-residential investment lags the cycle, and this co-movement between housing market and macro-economy has been documented for several countries. Also, economics often analyze real property market tie to long cycles. Gottlieb (1976) considered, the amplitudes of housing cycles are larger than typical business cycles, and the periodicity might be significantly longer than those of the business cycle. For instance, Ball (1998) showed, in UK, new commercial property cycles have a 10 years duration while they are independent of the business cycle. Employing the cross-country data and the Kalman Filter technique, Ball (1999) again found significant long cycles of new construction, which with periodicity of 20-30 years in both residential and non-residential real estate markets. As we can see, the importance and sensitivity of real estate prices attracted a large number of scholars to concerned. Based on the review above, the existing literatures are mainly adopting the cross-section data and time series data, so that the specific econometric methods of housing models are mostly focusing on: traditional ordinary least squares model (OLS), value at risk model (VAR), tractable value at risk framework in a straightforward way (SVAR), co-integration and so on. 2.4 Empirical evidence in the Chinese context Compare with developed countries, Chinese real estate market started relatively late. But along with Chinas rapid economic development, the real estate industry is also showing a good development trend. As real estate investment occupies a very high proportion of total investment in fixed assets, and the volatility in real estate market is closely related to macroeconomic and national policy, the issue of housing prices is not only related to a citys development, but also related to financial security and the living cost of ordinary people. Thus, Chinese economists have also attached great importance to the development of the real estate market, and conducted extensive research. However, since the late development of Chinas statistical system, the database is not perfect, most of the Chinese scholars just analyzed the relationship between housing market and macroeconomic theoretically, empirical studies are relatively small. 2.4.1 Fundamentals First, because of the importance impact of macro fundamentals on real estate prices, using appropriate data and models to estimate the nexus between them has always been the focus of Chinese economists. Adopting the housing index and macro fundamental data (1995-2002) of 14 cities, Shen and Liu (2004) employed a mixed regression, and empirically examined the relationship between housing prices and economic fundamentals. The results showed the impact of macro fundamentals on housing market is quite different in different cities. The explain model was significant affected by the city characteristics (Shen and Liu, 2004). Song and Wei (2009) using a co-integration and vector error modified model, and considered that, in long run, there is a long-term stability of the dynamic equilibrium between real estate prices and macroeconomic; but when short-term imbalances, it becomes into a negative feedback mechanism. Song and Wei (2009) also found that fluctuation of GDP and inflation is the Granger cause of housing price volatility and the impact of interest rates is not significant. Based on partial least-squares regression (PLS), Wang and Xie (2010) estimate the annual data of China within the period of 1999-2008. They thought land prices, capital size and national wealth are the top three factors that affect Chinas price changes at present; although the influence of long/middle-term loan rate is weak, money supply do play a very prominent role in Chinas housing prices volatility (Wang and Xie, 2010). In addition to the analysis of real estate market and macro fundamentals, Chinese economists also studied the housing market from different economic perspective and tie to their own national circumstances and policies. 2.4.2 Land price As the reforming of Chinese housing system and land system, the housing sales prices were climbing higher and higher until the financial crisis in 2008, but, after a short depression, the price still maintain the rising trend. General view is that, due to the land purchase cost is the main cost which constitute the housing costs, high land prices is the main reason of high housing prices. Especially after the Ministry of Land Resources released two new policy  [1]  of land sale, more people think that the skyrocketed of housing prices is because of the high land prices. The policies require that any commercial, tourist, entertainment, commercial housing and other kinds of business land must be transferred by tender, auction or listing mode. After the new land policies, the land transfer cost rose sharply; and almost in the same period, the housing prices have skyrocketed as well. Thus, from the point of view of China Real Estate Association, Yang (2003), Bao (2004) and Cheng (2004) thought since a large number of land transactions using auctions, land prices increased dramatically. And land purchase costs account for 30% percent of the housing prices, hence construction costs raised, further driving a rapidly rise in housing prices; this Cost-push theory was also supported by a large number of real estate developers (Yang, 2003; Bao, 2004; Cheng, 2004). But, Ministry of Land Resources hold the opposite view. Deputy Minister Fu (2006) considered that even if the tender, auction or listing transaction mode will lead an increase in land prices, it might not raise the housing price, the most important factor affecting housing prices is still supply and demand in the housing market. On the contrary, Fu (2006) thought, land is a production factor of real estate industry; the demand for land is generated by the demand for housing, therefore, huge demand in housing m arket and the rapidly increase in housing prices makes demand for land, and further drive the land prices rise. However, Wang and Wu (2009) did not agree both of them. Employing the panel data from 28 regions, they found, in China, although land prices promoting housing prices in long-run and housing prices driving an increase in land prices in both long-run and short-run, this mechanism depends on the region. Wand and Wu (2009) thought that the interaction between land prices and housing prices is different in different regions, so the relationship between them should be implement regional studies and cannot be generalized. 2.4.3 Bank credit After the 1997 Asian financial crisis, in order to stimulate economic growth, China implemented a proactive fiscal and monetary policy: repeatedly issued bonds, reduced interest rates several times, vigorously infrastructure; real estate industry become a national priority support industry and the financial sector continue to increase the real estate credit. But until now, Chinas banking system is still not perfect; most of the loans are mortgage loans, therefore, value of real estate products in the market will directly determine the size of credit. Typically, the credit will play two roles in the housing market. If the real estate prices cyclical rising, since financial institutions anticipate the housing prices can keep rising in the following, banks will relax lending conditions, thus, the increasing housing prices will directly lead to the upswing in real estate bank credit. Because of land and real estate products supply is very inelastic in the short-term, to some extent, the upswing in real estate bank credit will further push up house prices increase. By the same token, the decline in house prices leads to a decline in the quality of bank assets, reduce the size of bank funds, so banks will abate the amount of credit, which will further decrease the housing prices. Based on the panel data of credit and housing market, Li (2004) considered that among Chinas current macro-economic control policy, credit policy play the most significant role in the real estate market. He also believed the flexibility of supply side and demand side is different, so the impact of monetary policy on the supply is greater than that on demand (Li, 2004). Employing the error correction model and VAR model, Zhong and Yan (2009) thought that there existed a stable equilibrium relationship between the volatility of real estate prices and credit in long-run. After the Granger test, Zhong and Yan (2009) found real estate prices and the amount of real estate credit influence each other and they both are the Granger cause for each other. Studying on the East Asian financial crisis, Xiang and Li (2005) also believed bank credit expansion played a very important role in the formation of the real estate bubble in East Asian countries. Thus, in order to ensure the health of Chinas real estate development, it should strengthen the financial system construction and regulation (Xiang and Li, 2005). 2.4.4 Others In addition, through calculating the Lerner index  [2]  (Lerner, 1934) of the real estate market in China, Li (2005) considered the level of monopoly in Chinas real estate market is very high. Even if as the market economy developing, the competition in the real estate market will gradually get better, but this process will be very slow (Li, 2005). And from another special perspective, Yin (2010) thought the existence of North paradox  [3]  behavior (North, 1981) in the local government is an important cause of housing price fluctuations. Local government is lack of intrinsic motivation to stabilize the real estate market; local governments various rescue policies are also mainly based on the purpose of obtain more land transfer fees; thus just depends on local governments behavior can not maintain healthy and sustainable development of the real estate market, the central government should implement more effective macroeconomic policies (Yin, 2010). Comparing with foreign literatures, Chinas real estate market research also adopting cross-section data, time series data, especially panel data. Relevant econometric methods are: co-integration approach, Granger test, error correction model (ECM), and panel data model; in the meantime, the analysis about the impact of macroeconomic policy is also Chinese economists priority concerns. 2.5 Deficiencies However, for the following aspects, Chinas research is still inadequate: The studies on macroeconomic policy are more focused on the theoretical analysis; they are lack of a comprehensive empirical analysis. Currently, the analysis of macroeconomic fluctuations is mainly under an assumption of closed economy. But, with economic globalization, Chinas real estate market will be more affected by international economic development, so the discussion of the relationship between the real estate prices and macro economic fluctuations that under an open economy is more meaningful. There is no analysis of government expenditure in Chinas real estate literatures. However, according to macroeconomic theory, government investment will promote private investment, thereby affecting the real estate investment and price. So, the empirical quantitative estimation about the real estate prices and government spending will contribute to the in-depth analysis of the relationship between the government and the real estate market.