Teachers should not get tenure Essay Example | Topics and Well Written Essays - 250 words

Instructors ought not get residency - Essay Example In New York, just ninety out of 70,000 instructors lost their positions somewhere in the range of 2007 and 2010 for horrible showing. Such insights are owing to residency. Along these lines, residency and execution create a circumstances and logical results relationship towards the exhibition of understudies. Moreover, the procedure for granting residency isn't as careful as it used to be. These days, residency is conceded relying upon the time that an instructor has been in administration. This implies all educators will be granted residency subsequent to serving for a specific period. For instance, in the United States, most states require at least three years before an educator fits the bill for residency. This implies all K-12 instructors get residency whether or not they have qualified or not. Instructors ought not get residency to guarantee that activity execution isn't undermined for â€Å"job for life.† It will be simpler to diminish ineffectual educators their obligat ions if residency isn't granted. The instruction part will improve over the long haul if educators are not allowed

Teamwork wins Championship Essay Example for Free

Cooperation wins Championship Essay Collaboration wins Championship! Ability dominates matches, however collaboration and knowledge wins title. l I should state what a wonderful saying by Michael Jordan! He perfectly depicts the achievement of cooperation. As these days, the test for organizations is to convey rapidly and deftly new quality items and administrations so as to react to more prominent and changing requests from customers. Normalization and specialization portray conventional work association; the work is separated into various fragments, and laborers play out their undertakings independently, represent considerable authority in their field. In any case, specialization, control and outine are appropriate when a consistent interest for normalized items applies. Be that as it may, for a quick evolving request, this technique doesn't appear to fill in also, and may prompt coordination issues and rigidities. In this manner, to satisfy the quick evolving request, the organizations began to search for new types of association of which collaboration is very effective one. 2 Teamwork is viewed as one of the center components of the new work association and it includes working agreeably and utilizing singular qualities inside a gathering to accomplish a shared objective. Groups are progressively adaptable and receptive to evolving occasions. This is on the grounds that there is nobody pioneer unmistakably in control in reality the position of authority is shared and work is done by and large. This makes a situation that encourages information and data trade. As group working utilizes all the abilities of the workforce. Better answers for issues are found as those most firmly associated with the work take part in proposing answers Thus, this exceptionally inspires staff coming about in diminish work turnover and high work efficiency. Work efficiency is the yield per specialist in a given timeframe. At the point when organizations, for example, W. L. Violence, Volvo and Kraft Foods brought groups into their creation procedure, they made news on the grounds that nobody else was doing it. In any case, today, its Just the inverse an association that doesnt use groups would be newsworthy. Its evaluated that more than 70 percent of U. S. makers use work groups. 3 Hence, group working is preferable for efficiency over individual working. The board hypothesis recommends that contrasted with an individual, a various gathering of individuals will be increasingly innovative in light of the fact that colleagues will bring an assortment of thoughts, points of view and ways to deal with the gathering. Indeed, even at Google groups are a lifestyle. As the organization sites states, Googlers flourish in little, engaged groups and high-vitality situations. 4 Actually collaboration is unique in relation to the Taylorist work association. F. W. Taylor was the individual who made first genuine endeavor to examine specialist inspiration so as to prompt administration on the most ideal approaches to build laborer execution or profitability. His logical administration hypothesis is portrayed by task specialization, a pyramid various leveled structure and a centralization of obligations. Under the Taylorist model the work was separated into restricted capacities with short, dreary work cycles and the work strategy is rescribed in detail. In any case, this framework doesn't offer adequate degree for a procedure of updating and development, which is basic for speedy change and adjustment. The gradualness and relative unbending nature of the customary hierarchical plan otten wins I t the name dinosaur disorder. 5 Furthermore the monotonous errands cause weariness among laborers. Subsequently, representatives lose enthusiasm for their work which eventually prompts poor reaction rate and high work turnover affecting profitability. Henceforth, Taylor approach of the board, offering directions to laborers with no conversation or input is viewed as bothersome. Specialist cooperation in concocting best work rehearses is currently supported. As Mayo Human Relations hypothesis likewise recommend that working conditions and budgetary prizes have next to zero impact on profitability. Actually when the executives talks with laborers work in groups and builds up a solidarity then efficiency is improved. As group working utilizes all the abilities of the workforce. Along these lines, better answers for issues are found as those most firmly associated with the work take an interest in proposing answers. 6 Case investigation of Starbucks Corporation will additionally assist with representing the idea. Starbucks Corporation is the most well known chain of retail coffeehouses on the planet. In 1971 it began with three proprietors and in 1982 a salesman, Howard Schultz, of the house product business in New York Joined them. At the point when he had a business to Italy, he encountered an altogether unique espresso culture. He needed to receive that in Starbucks yet the underlying proprietors dismissed the thought. In this way, he decided to build up another coffeehouse, named II Gironale. In two years his business was effective to the point that the three proprietors of Starbucks chose to offer their business to Schultz. His work technique worked so well that in 2007 he was positioned as the sixteenth best organization. Schultz was so fruitful because of his business culture, convictions and perspectives. He accepted that the tip of accomplishment isn't espresso yet workers. Consequently, inspiration is the crucial factor for business during the time spent creation their creation. As works are not working machines, so they can not generally do similar undertakings with equivalent energy. In like manner the proficient technique to make staffs enthusiastic about their Jobs ought to be to rouse them. As Nicholson (1998) additionally detailed that laborers had solid social eeds which they attempted to fulfill through enrollment of casual social gatherings at working environment. 7 Therefore, Schul tz received cooperation which didn't just develop a little social structure in association for representatives to mingle, yet in addition composite of different sort of individuals who furnish with various foundation of ability and information because of the mission. Be that as it may, if business were somewhat bureaucratic in their methodology with an unbendable way to deal with staff issues. Concentrated on singular working as opposed to collaboration at that point as per Mc Gregor hypothesis Y, laborers will be ighly de-inspired. As Mc Gregor hypothesis Y administrators accepted that laborers are inventive, ready to acknowledge obligation and can get as much delight from fill in as from rest and play. Thus, in todays world where there is such a great amount of mindfulness among laborers so on the off chance that they are not given any privilege in dynamic, at that point this could de-rouse them and influence efficiency. In this manner, collaboration is the arrangement which allows laborers not exclusively to take an interest in recommending thoughts in truth through expanded correspondence they can finish enormous ventures in lesser time. The same number of business ventures require various assignments and display an unpredictability level that would be practically unthinkable for a solitary representative to finish all alone. 8 Therefore pulling people from an assortment of divisions and positions permits an organization to finish tasks and work assignments all the more proficiently. Signifying it, group working can diminish the board cost as it is frequently connected with de-layering ot the association. De-layering is the evacuation ot at least one ot the levels ot progressive system from an association structure. Besides, there is a positive connection among's cooperation and representative preparing. This is on the grounds that when laborers work in groups they can gain from others. As some colleagues may be from the upper degree of the administration and have considerably more experience than others individuals. In this way by creating social contacts and even by watching them, individuals who are less experienced can learn. The Finnish Quality of Work Life Survey reports, Employees who improve potential outcomes of getting preparing and for building up their abilities than individuals who don't work in groups. 9 Abraham Maslow likewise proposed the hypothesis of the chain of importance of human needs. His discoveries were not just founded on the workplace in reality he thought about mental and sociological factors too. He accepted that human needs begins from the degree of physical needs which incorporate food, asylum, water and rest. At that point it moves to wellbeing needs which implies assurance from dangers, Job security, wellbeing and security at work. Further the chain of command of requirements move to social needs which allude to sentiment of having a place with a gathering, trust and acknowledgment. And afterward comes the regard needs and self completion. Regard needs mean status and acknowledgment of accomplishment. In this way, by creating groups MasloWs social and regard needs and prone to be satisfied. Subsequently, laborers are required to be better spurred. It would invigorate individuals to make a move to improve efficiency. 10 Hence, it tends to be securely inferred that collaboration can add to a superior nature of working life for representatives prompting improved efficiency. Working in groups permits representatives to give their thoughts and work all in all which bring about finishing huge ventures in lesser time and subsequently increment productivity of workers. Productivity implies delivering yield at the most elevated proportion of yield to enter. Along these lines, the association is profited by the speed of representatives as collaboration inspires laborers and they accomplish their work with more intrigue. Moreover, the level of acknowledgment is high of the choices made by groups as they are normally seen as more real than choices made by one individual. This is on the grounds that colleagues are hesitant to fght or sabotage a choice that they created. 11 Henry Ford likewise stated, Coming together is the start. Keeping together is the advancement. Cooperating is the achievement. 12 Therefore, embracing cooperation at work place as a rule prompts achievement. Absolute Words: 1512

Need For Investment And Various Alternatives For Investment Finance Essay - Free Essay Example

Investment Management is a broad term that encompasses employing, monitoring and evaluating the performance of assets held in various financial instruments. It deals with financial instruments and the major entities involved include financial institutions, insurance firms, banks, individuals, etc. The markets these days being highly volatile, investment management is of prime importance generating returns on assets by combating the risk involved due to surrounding factors. The paper basically focuses on the need for investment, various alternatives for investment, timing of investment and the investment process involved. Moreover, the paper also describes the major investment avenues (options) available to investors and the factors and approach that will be taken into consideration while making the investment decision. The paper also throws light on stock market fluctuations and corresponding investment behaviour. It covers the concept of time value of money and margin of safety. The author has also made an effort to describe the capital asset pricing model and arbitrage pricing theory. Futures and options have also been briefly described. Introduction to Investment Management Investment Management involves employing money in financial instruments in the present with an expectation of positive rate of return in the future. The financial instruments may be securities, bonds, assets, etc. Investors such as banks, companies, insurance firms or individuals seek to invest money in order to achieve their financial goals. The money required for investment usually comes from savings of an individual which he uses to get returns in the future. In the modern day scenario, there exist a lot of financial products which provide individuals with a variety of options to entities. Moreover, considering the volatility of markets and frequently changing regulations governing the various financial instruments, investment management is certainly the need of the hour. The money invested needs to be spread across various instruments in order to gain maximum return from the investment. Investment managers indulge into discretionary or advisory management to help the inve stors accomplish their objectives. In advisory investment management, the investment manager suggests alternatives regarding where and when to invest and when to sell the concerned financial instruments. In discretionary investment management, the investment manager has the authority to manage the financial instruments without the approval by the investor. Before investing, the investor has to find answers to few questions in order to come up with a plan for investment. These questions typically are: Why to Invest? What to Invest? Where to Invest? When to Invest? How to Invest? These questions have been answered with reference to investment management as under: Why to Invest? An investor would probably invest to generate an additional source of income to fund his future requirements. Now, when we talk about investment, a persons income majorly involves savings and consumption. Savings are deposited in savings account in bank and are liable to receive 4-5% on interest per annum. Considering the rising levels of inflation, these savings lose value over a period of time. So, the individual switches to fixed deposits which provides him 7-8% per annum of interest rate. So, fixed deposit provides the individual with an acceptable rate of return with minimum or zero potential risk. When we talk about other instruments like shares or securities, it involves potentially high amount of risk due to fluctuating markets. So, the rational behaviour of the investor might not always work. What to Invest? The investor would typically invest his/her savings and financial reserves. Where to Invest? Investment alternatives are spread over a wide range and mainly include: Investment in Bank Deposits Investment in Real Estate Investment in Currencies (Foreign Exchange) Investment in Gold Investment in Equities Investment in Commodities and Derivatives Investment in Government Bonds The investor should typically invest by diversifying his investment among various alternatives to maximize rate of return on his assets with minimum potential exposure to risk. When to Invest? It involves deciding upon the time during which to buy and sell the concerned financial instruments keeping the return on investment in mind. Moreover, the investors residence should be owned and not mortgaged. The investor must be earning sufficiently to meet the demand for current expenses. Moreover, the investor must also be able to take out time and demonstrate control over his emotions for successful management of his investment. How to Invest? Answering this question will enable the individual to define an investment system and an overall investment strategy with rules and regulations for the targeted investment. Investment Management Process The investment management process consists of 5 steps that mainly include: Setting the Investment Objective Establishing Investment Policy Selecting the Portfolio Strategy Selecting the Assets Measuring and Evaluating Performance Setting the Investment Objective Investment objectives may vary from entity to entity be it banks, financial institutions, insurance firms or individuals. For an individual, it may to maximize return on investment with a minimum risk. On the contrary for a bank, it may be minimum interest spread over their cost of funds. Investment objective can be specified in terms of Income, Investment Capital Growth, Stability of investment and Implementation. Before setting the investment objective, SWOT analysis is done to get a better view of individuals current financial situation. It could be done as shown below in the diagram: Moreover in setting the investment objective, a tentative risk tolerance review is also conducted in order to assess the risk associated with each of the alternatives. Establishing the Investment Policy It involves defining a policy that helps in allocation of assets among equities, debt, fixed income securities, real estate and foreign currencies. While defining the policy, the constraints of the investment environment as well as the investor need to be kept in mind. Environmental Constraints include government rules and regulations as well as working of the market place. Individual Constraints include financial capability, risk profile, time available, and understanding of the investment environment. Defining the investment policy for the individual will involve coming up with a strategy and tactics for investment which are in sync with the available alternatives and the operating investment environment. Selecting the Portfolio Strategy Again the portfolio strategy has to be in accordance with the investment objective and the established investment policy and guidelines. It mainly involves an active or a passive strategy. Active strategies have a higher expectation when it comes to the factors influencing the performance of various financial instruments. Passive strategies have minimum expectation input. Active portfolio strategy also takes into consideration the purchase of stocks and subsequent holding period to maximize returns. It also takes into account the spread of portfolio over several sectors and industries and checks the investment worthiness of the current stock. Moreover, the investor also needs to have an investment philosophy depending on the forces affecting the stock market and movement of stock prices. Selecting the Assets This would involve defining the portfolio in a way that risk commensurate with returns. The available alternatives in terms of asset classes involve equity, fixed income securities, real estate, debt instruments, currencies, art objects, rare stamps, etc. The investor has to manage his portfolio from time to time and balance all of the above instruments in accordance with the objectives. Measuring and Evaluating Performance This involves analysing the performance of the portfolio against a realistic benchmark. An investor or manager would mainly consider the risk-return profile while evaluating the performance and this evaluation will provide him with feedback regarding the improvements that can be made in the quality of portfolio. Investment Environment Introduction Investment environment is of prime importance as it helps the investor know about the demand supply gap that exists in case of various commodities and services. Each country has its own economy and several markets enable interaction among these economies. The market basically consists of: The Regulator (E.g. SEBI in case of India) The Trading Platform and its system (E.g. National Stock Exchange) Brokers (E.g. Broking Firms) Participants/ Investors (E.g. Financial Institutions, Mutual Funds, etc.) A particular economy may be affected by events taking place in various parts of the world and so the overall investment environment has a major role to play in investment management. Investment Avenues There are a large number of alternatives available as far as the financial instruments for investment are concerned. However, these could be categorized into 4 major categories: Financial Securities: These include equity shares, convertible debentures, preference shares, gilt-edged securities, public sector bonds, savings certificate, money market securities, etc. These are freely tradable and negotiable. Non-securitized Financial Securities: These include bank deposits, post office deposits, provident fund schemes, life insurance, etc. and are neither tradable, transferrable nor negotiable. Mutual Fund Schemes: These are mainly equity or debt oriented schemes which are used when an investor does not want to invest in the market. Real Assets: These include physical investments typically in real estate, gold and silver, stamps, art objects, etc. Investment Attributes The major attributes to be considered when deciding upon an investment avenue include: Rate of Return: It comprises of annual income and capital gain or loss. It is given by Rate of Return= Annual Income+ (Ending Price-Beginning Price)/Beginning Price Risk: It refers to variance in the rate of return expected. Put in other words, it is the deviation of actual outcome of investment from expected value. Various techniques employed to measure risk include variance, standard deviation, etc. Marketability: Here the instrument must have a low transaction cost and must be easily tradable. Moreover, price change between 2 transactions is expected to be very low. Thus, an instrument must be highly marketable. Taxes: This attribute considers whether the investment avenue provides tax benefits. Tax benefits occur mainly in the form of Initial tax benefits, Continuing tax benefits and Terminal tax benefits. Convenience: It involves the degree and ease with which an inve stment can be managed. Comparison of Investment Avenues Investment Decision Making Approaches Following approaches have been considered when it comes to identifying investment strategies that can be implemented to gain maximum returns from various financial instruments: Fundamental Approach It deals with the intrinsic value of the instrument which is deeply affected factors related to overall economy, industry and company. Psychological Approach This approach is mainly driven by greed and fear which represent optimistic and pessimistic behaviour of investors respectively. Stock prices are driven majorly by emotions and hence the decision regarding investment is based accordingly. Here the investors use internal market data and analyze it through tools like bar charts, moving average analysis, etc. to understand the price movements. Academic Approach This approach reflects the rational behaviour of the stock markets. It relies on the flow of information over time and hence makes the stock markets much more reliable and efficient. The major equation describing this approach is as under: Current Market Price=Intrinsic Value Eclectic Approach This approach involves all the 3 approaches as mentioned above. Here standards and benchmarks are established through fundamental analysis. Demand-supply gap and investor mood are tracked through technical analysis. It stresses on a positive correlation between risk and return and denies the fact that market is speculative or perfect. Common Errors in Investment Management Following are some of the basic errors that investors make due to a lack in perception regarding the existing investment environment: Unrealistic goals and expectations Ambiguous Investment Policy Overconfidence of the Investor Unnecessary switching of stocks Averaging tendency and inclination for cheap stock Over/Under Diversification Attractiveness of known companies Bad attitude towards profit or losses Investor v/s. Speculator Investor Speculator Long Holding Period typically atleast a year Very short holding period of, say, few days or months Usually is moderate when it comes to risk taking Assumes to high risk taking Moderate Returns provide less risk High returns on high risk exposure Decision based on proper analysis Decision based on market psychology Active Asset Allocation Introduction For any investor, there exists a base amount with which he/she starts investing in various financial instruments. This base amount is known as the asset base. For instance one has savings worth INR 5 lacs and inheritance worth INR 25 lacs. Then, if the investor plans to invest this, then his total asset base would be INR 30 lacs. Now, asset allocation involves percentage distribution of various financial instruments in which the investor wishes his/her asset base to be divided among. Here the financial instruments stocks, bonds and cash. Here again there will be a trade off between performance of the portfolio and aversion to risk. Thus, asset allocation involves monitoring and evaluating investment plan to decide upon the optimal allocation of our asset base to various financial instruments in order to meet the performance criteria set for the portfolio. Asset Allocation Classes Basically there are 3 classes of asset allocation as mentioned under: Long-Term Asset Allocation It involves a passive process wherein risk and performance are balanced. Here analysis is done in terms of stability and performance about the asset mix which best meets the long-term investment plan. Active Asset Allocation It involves an active process wherein the strategy is usually buy low, sell high. Here performance of the portfolio is improved through mixing of assets in response to changing market opportunities. It is a dynamic process and hence the investor needs to be aware of the market fluctuations. Portfolio Insurance It involves an active strategy of buy high, sell low. This is usually implemented for shielding the portfolio against adverse market action and hence preventing the performance from degrading. Asset Allocation Process Asset allocation process is based on assumptions which state the role of securities market and related returns associated with various asset classes. The first assumption stating that securities market reflects the rate of returns available from various asset classes. The second assumption being that of a normal relationship among these returns. The third assumption being the fact that securities market correct disequilibrium conditions when they occur. Again markets deviating from the equilibrium have better prospects for profits. So, the allocation process should be a step-by-step approach after evaluation of risk return profile of each of the asset class considered. Portfolio Upgrade and the Use of Futures A portfolio basically consists of 2 categories of stocks namely the buy candidates, which are very attractive and hold candidates, which are mildly attractive. Portfolio upgrade is required whenever a need arises to shift from one asset class to another. In an investment decision to move from stocks to cash, an investor may sell hold candidates having potentially lower expected returns. Futures are used whenever there is a need to accomplish a change in the existing asset mix of portfolio. Futures reduce the transaction cost and hence are an attractive tool. However, with futures we need to maintain a cash reserve in the portfolio in order to provide for margins involved in the futures trade. Some of the advantages of futures include: Low Transaction Cost High Liquidity Fast Execution Daily trades possible Potential of Favourable Mispricing However, recording all transactions may pose a disadvantage to the use of futures. Investment Management and Trading in the Stock Market Introduction Stock Market trading involves buying and selling a quoted stock in a manner that generates profit for the investor. Stock market behaviour is volatile and at every step it may differ. Research findings show that a step is 6.25% of base price. So, if base price of a stock is INR 1000, then one step is INR 62.5. Phases in the Stock Market: Bull Phase: In this phase the stock prices are consistently rising. Equities traded in stock market at least taking 2 steps forward with 1 step back. Bear Phase: In this phase there is consistent fall in the stock prices. Equities trade in the stock market at least take 2 steps backward with 1 step forward. Consolidation Phase: In this phase equilibrium is reached and stocks traded take 1 step forward for every 1 step backward. Depending on the available information, participants tend to drive the stock prices up or down. Distribution Phase: In this phase prices are at their yearly highs and so strong investors sell to weak investors and after the selling is done, prices again move down. Determining Intrinsic Value of Stock Intrinsic value of a stock is determined through following steps: Calculate the Earnings Per Share of the stock (EPS is based on assumptions about revenue and cost behaviour. Expected EPS is ought to give an idea about the profit generating ability of the company) Calculate price earning multiplier (Reflects investors willingness to pay and markets valuation of companys stock) Identify Value Anchor and Value Range (Projected EPS * Suitable P/E Ratio) Margin of Safety Margin of Safety plays quite a crucial role when it comes to transactions of various financial instruments. The default strategy of buying low and selling high in itself ensures a margin of safety for the investors. However, it is associated with the profits that the enterprise is making. Opportunities for margin of safety arise during bear market conditions. However, the investor has to use technical analysis for making his buy or sell decisions and timing also plays an essential part in these decisions. Consider a stock of, say, XYZ Ltd. priced at INR 200(Base Price). Now, price level below INR 200 means that stock is under-valued and thus it provides the investor with a margin of safety. Now, if the price rises to INR 200 or above, a rational investor would be a seller. Time Value of Money Time Value of Money refers to exchange of money at different point of time. The time gap between inflows and outflows in an investment leads to different current values associated with cash flows at different points in time. There are four primary reasons for the fact that money in future is worth less than what it is worth today. These are: Rising Rate of Inflation Opportunity cost of Lost Earnings Uncertainty associated with future Human Preference to consume the goods now Compounding refers to situations where a current value is being converted to equivalent future value for comparison to another future value. Discounting on the other hand involves moving back in time to convert cash flow to be received in future to its equivalent current value. The concepts of compounding and discounting are widely used in comparison of various investment avenues and the risk associated with each of them. Time Value of Money enables the investor in estimating the amount of money that he needs to save in order to meet interest obligation in future. It also helps in identifying a loan amount an investor can take considering the ability to pay the monthly instalments. Investment Management and Inflation Inflation refers to a gradual increase in the level of prices and hence an increase in the supply of money. Although high inflation and rising stock prices is not a good sign for the investors, most investors still consider investing in the stocks, as expected revenues and earnings are expected to grow at the rate of rise in inflation. However, the investor would be paying more for less as there may be no real increase in value of assets. Stock Market Investment Rules Make investments in larger companies with P/E ratio 10 or below and invest in top 2-3 companies in each of the industry Invest in sunrise industries and keep P/E ratio and EPS in mind. High P/E Ratio means high investor confidence and expected rise in companys earnings in the near future. Watch out for low EPS Time your buys and sells High Returns can be earned from high priced stocks with reasonable price-earnings ratio Sell when P/E ratio shoots up to unrealistic levels or after a steep rise in stock prices Stock Market Investment Strategies Following points need to be taken into consideration when deciding upon an investment strategy in stock market: Company considered is market leader in its industry and is growing at a rapid pace. Diversify in order to ensure low risk and a margin of safety (Invest in companies in fast growing sectors of economy) Sell stocks only in certain specified conditions Advantages: Focus on Initial Selection, Savings on transaction costs, High returns from capital appreciation Stocks can be sold to en-cash profit or loss or when P/E ratio crosses 40 or when there is a sustained rise in stocks for a period of 1 year. Do not sell in order to earn short-term gains based on speculations Diversify over time and focus on long-term value creation Risk and Return Higher Rate of Returns means high amount of risk involved. Equity returns are mainly influenced by 5 factors as mentioned under: Unanticipated changes in default risk Unanticipated changes in term structure of interest rates Unanticipated changes in inflation rate Residual market risk and Unanticipated changes in long-run growth rates of profit The 4 types of risk involved include Business Risk, Inflation Risk, Interest Rate Risk, and Market Risk. Here the correlation of securitys return in a diversified portfolio determined its risk. Moreover, risk associated with a portfolio is not a linear function of standard deviation of risk of each individual security. The risk can be measured by standard deviation method is identified to have 2 components namely Non-Diversifiable Risk (Effect cannot be avoided) and Diversifiable Risk (Avoidable and unique to individual security). Capital Asset Pricing Model Assumptions of Capital Market Theory Investors base their investment decisions based on risk-return investments Purchase and sale of stocks can be done in infinitely divisible units Investors can short sell any amount of stocks without any limit Purchase and sell of stock by single investor cannot affect the price of that stock No transaction costs Absence of income tax considerations Consider an investor lending at a rate Rf=0.06(FD rate) which represents a risk free investment. If he places part of his funds at this riskless rate and part in other riskier securities, then he could generate portfolios along a line. Expected return would be given by equation Rp= X*Rm + (1-X)*Rf Rp=expected return on portfolio X=percentage of funds in risky portfolio Rm=expected return on risky assets Now, SDp= X* SDm SDp= expected standard deviation of the portfolio SDm=expected standard deviation of the risky assets If X is percentage of investment capital in risky assets, then if, X=1; Full Risky Portfolio X=1; Part invested in risky portfolio X=1; Implies that investor has borrowed funds to augment investment capital under his charge The Arbitrage Pricing Theory According to arbitrage theory, the returns on a stock vary depending on a number of expected as well as unexpected events that occur during the time for which investor holds his/her portfolio. According to this model, systemic factors have a larger impact on the performance and these factors pose major risk to the portfolio. In arbitrage pricing theory, the actual return R on any security or portfolio may be given by R= E+ b*f+ e where, E= Expected return on a given security or portfolio b=sensitivity of security to changes in systemic factors f=actual return on the systemic factors e=returns on unsystemic factors Here the major economic factors that can be considered include inflation, changes in levels of industrial production, changes in risk premiums, changes in interest rates, etc. Market Efficiency It describes the operational characteristics of market and is of 2 types mainly: Internally Efficient: Cheap Transactions, Brokerage, commissions and other charges included Externally Efficient: Stock prices reflect all available information 3 forms of market efficiency include: Weak: -Price fully reflects pricing and trading history of concerned security Semi-Strong: Price fully reflects all public information, including price and trading history Strong: Price fully reflects all relevant information, irrespective of the fact whether it is publicly available or not Role of Options and Futures Options and futures enable better investment risk management as they help the managers identify the risk patterns and behaviours. An option is a contract in which the writer of the option grants the buyer of the option the right to purchase or sell the writer an underlying security at a specified price. A future is a contract between a buyer and a seller, in which buyer agrees to take delivery and seller agrees to give delivery of some specific product at the end of a designated period of time. Options and futures can be used to create instruments that offer a higher return than a cash market instrument. They can also be used to adjust the risk exposure or alter the stock/bond mix of a portfolio. Future contracts can be used to reduce the transaction cost. Conclusion When we think of gaining returns on our savings and reserves, then we need to invest in various financial instruments. However, each of the instruments has a potential risk associated with it and so investment management targets on returns adjusting against risk in order to generate profit for the investor. The investment has to be made at the right time and the portfolio, which comprises of various instruments, needs to be monitored in order to ensure its stability and performance against market uncertainty.

Racism in To Kill a Mockingbird - Free Essay Example

Sample details Pages: 4 Words: 1340 Downloads: 9 Date added: 2019/02/19 Category Literature Essay Level High school Topics: Racism Essay To Kill a Mockingbird Essay Did you like this example? â€Å"To Kill A Mockingbird† is a book that takes many turns which makes it not easy to put down. It is set in Maycomb, Alabama around the time where slavery still existed. The story is focused around a trial where Atticus Finch has chosen to defend a black man named Tom Robinson. Don’t waste time! Our writers will create an original "Racism in To Kill a Mockingbird" essay for you Create order When read at the present time it is not felt as a big deal but at the time it was more than a big deal. It was something no one else remotely thought of doing. Tom Robinson is a man being accused of raping a women. In Maycomb, Alabama at the time, racism was a problem. The book goes through the struggles that Atticus has when defending Tom Robinson. This trial brings out the best and the ultimate worst of different people. For Jem and Scout, their perspectives of the world change. â€Å"To Kill A Mockingbird† exemplifies contrasting personalities and symbolism to make a moral novel that can be learned from. Harper Lee was born in Alabama on April 28, 1926. Her father, Amasa Coleman, was a lawyer just like Atticus Finch in the book. Many of the people that were part of Harper Lee’s life were also conveyed in the book. Another example is her older brother. In the book Scout has an older brother who is adventurous just like her Harper’s brother was. Harper Lee grew up in Alabama and wrote the book around 1960. At this time African Americans were being held from their natural rights that they had. The Emancipation Proclamation was only issued in 1963. As Harper Lee grew up in Alabama at this time, she saw much discrimination against African Americans which led to inspiration for the book. Harper Lee attended college to become a lawyer like her father but dropped out to pursue her writing career. Truman Capote was a writer who was part of Harper Lee’s life. His summer visits inspired the character Dill in the story. Many of the characters and conflicts of the story refle ct on what Harper Lee saw throughout her life. Harper Lee uses characters that have personalities that can be very different. Much of the county is split on racism. Many of the people there feel that the black people are less equal. Even with this attitude present there are still some who treat the black people right. One of them is Atticus Finch. Atticus did not hesitate when he was asked to defend Tom. This shows his courage to stand up for what is right. Atticus is surrounded by his family with includes Jem and Scout. Scout is a young girl who can turn up a but naughty at times like when she is rude to Walter Cunningham. Then there is Jem who is her older brother. Jem is more mature and can be seen trying to impress Atticus rather than disappointing him. Jem explains something very important to Scout before he goes to get his pants back from the Radley house. He tells her that he has never been beaten by Atticus before and would like to keep it that way. This shows the type of respect Jem has for Atticus and how good of a boy he is. Atticus who is their father is very much like a role model for them. Through all his struggles in the book he stays true to his word and shows them show to live right. For example he says courage is, â€Å"when you know you’re licked before you begin but you see it through no matter what.† Quotes like these make Atticus a very strong figure in the book. In the novel, when Atticus was confronted by Bob Ewell, he had a choice. Bob Ewell was so mad that Atticus was defending the black man that â€Å"raped† his daughter, that he spit on his face. Atticus stood there and didn’t do anything back. He took the anger Bob gave and retuned it with peace. This shows the character and moral values Atticus has. Another piece of wisdom Atticus says is when he explains how it’s a sin to kill a mockingbird because they don’t do anything wrong but make music for others to enjoy. This leads to the large amount of symbolism in the book. The mockingbird makes a big impact on the book. It symbolizes innocence and misunderstanding. Boo Radley and Tom Robinson are mockingbirds in their own way. Both of them do not do anything harmful but are in their own way â€Å"killed†. Boo Radley is a mysterious man who is described as a â€Å"malevolent phantom†. He is know for killing his father with scissors. Many people will not go near his house. He is never seen and no one knows much about him. The kids come to see that this is not entirely true. Boo leaves gifts for the kids in a tree and comforts Scout during the big neighborhood fire. It shows that he isn’t really a mean guy but one who is misunderstood. Likewise Tom Robinson is accused for a crime that he had nothing to do with. Tom was only doing the right thing by trying to help the women but instead gets framed for being at the wrong place at the wrong time. This leads to the trial and him eventually dying. Another reason this novel is amazing is because of the real life moral values it has. The book tackles the affects of racism from an outside perspective. Bob Ewell accuses Tom of the crime because he is considered less of a human than the other people. At that time period many white people were allowed to do whatever they felt like because they were the upper class. Tom could not do anything about the false accusations. This is when Atticus comes in and helps Tom who can’t help himself. Atticus who is white, defending a black man. To most of the county that is something they were unfamiliar with. This is what makes Atticus a respected man by a part of the county and by all of the black community. He appears to be the hero of the book who helps the innocent. The maturity of Jem and Scout is a another theme that is very evident by the end of the book. In the beginning Jem and Scout are blinded by a world where everyone is nice to each other. They don’t know about the racism and the nasty side of there county. To them the worst thing they encounter is Boo Radley. The first time they face reality is when they enter the court trial of Tom Robinson. They see all the black people segregated on the top of the court house. All the white men are curing out Tom in the front. Then they say their father who was also taking insults for his choice to do what’s right. In the court house they get exposed to all the evidence of the crime. They realize that is wasn’t Tom who did it. This is when the crazy plot starts to unfold. Everything takes unexpected turns but doesn’t end as the reader would like to. As they hear the final verdict come out they hear that he is guilty. This heart break solidifies all the evil in the world. â€Å"To Kill a Mockingbird† is an amazing book because it teaches lessons about racism that can be applied today while having an interesting plot that won’t let the reader put the book down. The reader is exposed to the toxic environment that is in Maycomb, Alabama. Harper Lee uses experiences in her own life to fully portray the environment. Through the eyes of Scout Finch the struggles of living in a place where racism prevails is seen. The author uses a character, Atticus Finch, to be the hero in Maycomb and do what no one else would. To exemplify the true meaning of courage and helps others even when he knows he might get hurt.

A New Architecture for Global Financial Regulation by Mattli and Woods Article

Essays on A New Architecture for Global Financial Regulation by Mattli and Woods Article The paper "A New Architecture for Global Financial Regulation by Mattli and Woods" is a delightful example of an article on finance and accounting. The article "A new architecture for global financial regulation" discusses ways to achieve global growth. The setting of the article takes place at theG20 summit. The diplomats that attended the summit believed that the best way to achieve global growth is through the development of new global regulations for the financial markets. According to the authors of the article, the only way to achieve new regulation is by starting from scratch and developing a brand new global architecture for the regulation of finance and banking. The new architecture must include the following three elements: broad representation in the rule-making process, proper monitoring, and systematic enforcement.   The current rulemaking mechanism occurs through a committee called the Basel Committee on Banking Regulation. There are only 13 countries represented by officials in the committee. The members of the committee are easily corrupted and influenced by powerful players in the banking industry, thus real change never occurs. There is resistance to change to any initiative that may hurt the profits of bankers. The rulemaking process requires greater participation of other countries and diverse stakeholders. There needs to be better monitoring of banks, financial institutions, and regulatory bodies in order to ensure the accountability of their actions. During the G20 summit, there was a proposal for the establishment of international supervisory colleges for all major cross-border financial institutions. The third element of the plan to create actual change in the system is the creation of a special international judicial institution that will be responsible for enforcing the new rules and regulations.1. What is the reason why change has been so hard to come by in the banking and finance industry?2. Do you think the creation of new architecture for global financial regulation is needed? Why?

Girl In The Dungeon Essay Example For Students

Girl In The Dungeon Essay As a class we looked at a picture called Girl In The Dungeon, it evoked thoughts of depression and grief. From the picture I was able to infer that the girl which appeared in the picture had been deemed an outcast by society and almost left to rot. It is arguable that the girl was locked in the dungeon because her state of mind was questionable, maybe it was seen as almost abnormal or atypical. However, it could also be assumed that the solitude in which the young girl was forced to endure pushed her into an unusual state of mind, possibly leading her to be thought of as mad. When our groups were formed, I worked with Holly, Nancy and Caitlin. We decided that madness could be portrayed in many ways and ultimately could be seen as any form of abnormality. We took this central idea and around it formed a piece of drama involving bullying. We thought that although bullying was neither an abnormality nor form of madness it can result in one experiencing psychological problems which can often lead to or be the cause of madness. We began by choosing that I would be the main character and the person who would experience the four stages of madness: annoyance, fury, rage and eventually madness. I was hot-seated by the three members of my group in order to achieve an insight on my character, although the character traits were thought of on the spot, I found it helpful as it allowed me to perfect my character before beginning the piece of drama. Eventually we began our piece, we decided it would take place in a lunch hall at school, we started with a still image- I was sitting alone and Holly, Nancy and Caitlin were sitting together looking over at me distastefully. I thought the still image was particularly important as it created the atmosphere for the scene as a pose to starting straight away, it also allowed the audience to gain recognition of the main theme running throughout our piece, bullying. While Holly, Caitlin and Nancy were throwing paper balls at me and speaking about me in an upsetting manor, I progressed from being annoyed to becoming mad, through fury and rage. This was most forcefully portrayed by facial expressions and actions including me rocking on my chair and holding my head in my hands to show a furious state. I showed my state of mind had developed into madness by eventually storming out of the lunch hall, this was effective as it was not what the audience were expecting; it was a sudden outburst of fury resulting in madness which I found shocked the audience and also allowed the audience to sympathize with my character. Aristotle held that the protagonist of a play should be an individual who is neither defined by being good or evil, rather someone more ordinary with a mixed nature, characterised by having both good and bad traits. In this way the protagonist becomes more relatable to the viewer, thus giving way to their sympathies. The painting The Scream by Edward Munch reinforced the ideas of grief and unusualness which were explored in Girl In The Dungeon, because the painting is distorted it can be suggested it was painted in this way to provoke our thoughts of normality, and allow us to understand how somebody who is not thought as normal sees surrounding objects. The environment of The Scream can be compared to that of which an individual suffering from experiences, such as a feeling of distortion of the environment and ones self. The image may represent the pain and agony experienced naturally, however, in the background two men in black can be seen. .u9d5b37f038cef971a619168629d29aab , .u9d5b37f038cef971a619168629d29aab .postImageUrl , .u9d5b37f038cef971a619168629d29aab .centered-text-area { min-height: 80px; position: relative; } .u9d5b37f038cef971a619168629d29aab , .u9d5b37f038cef971a619168629d29aab:hover , .u9d5b37f038cef971a619168629d29aab:visited , .u9d5b37f038cef971a619168629d29aab:active { border:0!important; } .u9d5b37f038cef971a619168629d29aab .clearfix:after { content: ""; display: table; clear: both; } .u9d5b37f038cef971a619168629d29aab { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9d5b37f038cef971a619168629d29aab:active , .u9d5b37f038cef971a619168629d29aab:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9d5b37f038cef971a619168629d29aab .centered-text-area { width: 100%; position: relative ; } .u9d5b37f038cef971a619168629d29aab .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9d5b37f038cef971a619168629d29aab .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9d5b37f038cef971a619168629d29aab .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9d5b37f038cef971a619168629d29aab:hover .ctaButton { background-color: #34495E!important; } .u9d5b37f038cef971a619168629d29aab .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9d5b37f038cef971a619168629d29aab .u9d5b37f038cef971a619168629d29aab-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9d5b37f038cef971a619168629d29aab:after { content: ""; display: block; clear: both; } READ: Fragile creatures are we humans EssayThey are not distorted but standing straight and clearly, suggesting they are in fact the people who are imposing pain onto the main figure in the painting. When looking at the painting I believe it can be interpreted in several ways, it can be seen that the person in the image is projecting a silent scream that cannot be heard; it can also be assumed that the fact the persons ears are being covered suggests it is not the person that is screaming but the scream may in fact come from natures anxieties of life which distressingly is heard by the one person, while the others are deafened and not aware of it and hence in black, a neutral co lour. What is most noticeable about this painting is the normality of everything else besides the man screaming, it may, therefore, be perceived as an inner scream which we all feel sometimes when an agony that we must keep silent about comes to a head. Unless we are insane, we keep the resulting desire to scream in despair and fear inside. We are torn apart inside while outside everything goes on as normal. This painting captures both the inner scream and the normality around. After considering these possibilities Holly, Lucy, Cecilia and I devised a drama piece revolving around the interpretation of an inner-scream. We plugged this idea into a more modern and understandable concept, Cecilia and Lucy were both being interviewed for a top city job in banking, and Holly and I were the people holding the interviews. Lucy was particularly confident with successful figures whereas Cecilia was unprepared and not as confident, often questioning her own accomplishments. Before Cecilias interview and after Lucys we created a flashback, it went back to the morning before the interview where both interviewees were preparing for the day, Cecilia looked at herself in the mirror unsure and unconfidently whereas Lucy was the complete opposite. The flashback gave the audience an insight on both characters, and portrayed Cecilias subtle inner-scream. A flashback can be described as an unexpected but vivid recurrence of a past experience; it was a transition to the earlier event interrupting the normal chronological development of the piece of drama. I thought this was effective as not only did it change the tone of the piece, making it more interesting, but also allowed the audience to grasp a further understanding on our interpretation of The Scream through a modern concept. One of the stimuli was a play by David Campton, Cagebirds, which explores how barriers in our minds and thoughts allow barriers to form in our societies. There is a strong element of self-imposed isolation within the cage, the birds seem to talk to each other, but they do not communicate as each sings their own song. The birds seem to represent human characteristics vanity, greed, insecurity etc. So the question is, are we really looking at six birds in a cage, or are we looking at ourselves? When discussing the stimuli in pairs, Honor and I questioned that a stone wall may make a prison, but even when the wall is gone, does that immediately imply freedom?

Planning History Utopian Planners

Introduction Urban planning has evolved into different forms throughout the history of cities and city planning. Urban planning aims at improving a city to cater for the future social and economic needs of its inhabitants. It seeks to link the existing knowledge with the appropriate forms of action (Sager 1992, P. 67). Planning, therefore, has to be visionary with an appropriate idea about the future design of a city and the implementation of that design.Advertising We will write a custom essay sample on Planning History: Utopian Planners specifically for you for only $16.05 $11/page Learn More Modern urban planning entails two different approaches; visionary city planning that involves radical changes in the design of the city with substantial social and economic changes, and the institutionalized city planning, which proposes changes to the existing city structures and is affected by the prevailing economic and political forces within the city. Histori cally, urban city planning began in the nineteenth century with the sole purpose to regulate the new urban growth brought about by industrialization and improvement of transport and communication following the invention of the railway (Sitte 1965, P. 43). Military strategies to control territories and aesthetics of expression of cities significantly influenced visionary urban planning in the nineteenth century. Although visionary city planning made many achievements in city building, many of which are still monumental and beautiful today, it remained insensitive to the wider needs of the society and would have been disastrous if implemented on a large scale.  The poor living conditions of the urban poor, forced most middle class urban dwellers towards the end of the nineteenth century to begin agitating for reforms in city planning, which culminated into utopian planning (Cherry 1970, P. 87). Central to this movement was Ebenezer Howard, who conceptualized the ‘garden cityâ €™ to be the ideal alternative to the city planning of the nineteenth century. The garden city was an attempt to connect the vision for a new social order to the spatial expression of the city (Fisherman 1977, P. 23). Le Corbusier conceptualized the â€Å"Contemporary City for Three Million People† in 1922 and the â€Å"Radiant City† in 1935 both of which proposed a centralized city with high population and many facilities including skyscraper buildings and residential apartments (Cherry 1970, p. 89). Frank Lloyd Wright on the other hand, envisioned the Broadacre City plan in 1935, which was a decentralized city with low population and suburban residential homes (Mumford 1946, p. 42). Ebenezer Howard and the Garden City The garden city was a brilliant idea conceived by Ebenezer Howard in response to the environmental and social changes that were results of industrial revolution in Britain. Industrial revolution encouraged migration into urban areas and consequently led to poor and unhealthy living conditions in cities.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More In a bid to curb overpopulation in cities and the associated deterioration of social facilities, Howard envisioned an organized planned dispersal, whereby people could set up industries in towns to provide the services and various occupations to the people of a particular culture within the town (Gossel Leuthauser 1991, p.94). He also envisioned that the population size in the towns be reduced to about 30,000 inhabitants so that the inhabitants could live and work within walking distance. In this way, the garden cities could provide social facilities near the residential places and avoid overpopulation in cities. The garden cities also comprised of a spacious layout to for occupation by residential suburban houses, parking space for the residents and enough space for schools and other social amenities.  The garden city envisioned the larger urban system as a network of interlinked communities. It proposed a close link between the town and the countryside with a clear definition of the country, which the design would reserve for agriculture. It also provided for easy access by the urban residents to the countryside (Hall Ward 1998, p.71). It also envisioned the creation of common developmental and social facilities that would lead to neighborhoods and estates within cities. To control the city development, Howard envisioned a unified land ownership, whereby the trust ownership controlled the agricultural zone. He also envisioned a cooperative municipal enterprise, which would regulate trade and industry in the cities without affecting the individual freedom with regard to trade and industry. The main major purpose of the garden cities was to promote dispersal of the people from major cities using the three magnets concept. The garden city provided a channel for an or ganized relocation of the city dwellers to other towns to relieve the pressure on social facilities and the impacts of overpopulation in the major cities in the nineteenth century (Hall Ward 1998, p.81). However, dispersal could have happened in any case because of majority of the urban dwellers avoiding the problems of overpopulation could have sought a better environment either in the suburbs or in smaller towns away from the cities (Fishman1977, p.153). Still, the garden city was an ideal alternative to reducing congestion in the cities. The cities of the nineteenth century experienced traffic congestion and provided little room for expansion. In contrast, the planned new towns provided an opportunity to avoid problems of overpopulation by providing the right infrastructure to match the expanding population growth in the major cities.  Despite Howard’s garden city concept providing an opportunity to reduce urban congestion by promoting decentralization of industries and facilities, its implementation could have been disastrous.Advertising We will write a custom essay sample on Planning History: Utopian Planners specifically for you for only $16.05 $11/page Learn More According to Howard, the social city concept entailed one garden city giving rise to another garden city after attaining a population threshold of 30,000 inhabitants (Howard 1902, p.14). However, this would have produced a cluster of interdependent towns that would be expensive to administer. Verma (1996) points out that despite the noble nature of the garden city concept, the many new regional centres would have been economically expensive to administer as opposed to a small number of large centres (p.43). Fundamental to the concept of the garden city was the neighbourhood idea, where the people would live within walking distance to their workplaces, shops, primary schools and public spaces. The idea behind this concept was the need to establish some kin d of balance between work and homes. However, Howard based this concept on the belief that the population growth would match industrial expansion to cut down the level of commuting back and forth the workplaces. The concept would not have worked; firstly, given that industrial growth leads to population increase due to attraction of immigrant workers into cities, establishment of smaller towns would not have encouraged outward labour mobility since many people worked in the industrialized cities (Cherry 1970, p.61). Secondly, the workers in the new towns would have been still dependent on the employers in the major cities and thus would continue working in the major cities. Under the garden city concept, people from all social classes were to move to the smaller towns including the employers. This would be possible through provision of various incentives to employers, thereby attracting them to invest in the small towns. Such incentives included already built factories on lease amon g others (Fishman 1977, p.154). However, given that, the cost of operating a new franchise is high few employers could have relocated their businesses to the smaller towns. In addition, relocation of large factories would have exerted unprecedented pressure on infrastructural facilities further affecting transport and communication. Howard envisioned that the establishment of the garden city would encourage people to move into the city and as a result, the population would steadily rise to maximum of 30,000 inhabitants, after which another city would arise (Fishman1977, p.321). In addition, Howard envisioned that the establishment of the garden city would result into a rise in land value, which would generate enough money to pay off the investors and finance schools, parks, museums and other public places. However, Howard failed to note that for the land value to rise, productivity in the garden city had also to be high (Sager 1992, p.73). Obviously, rise in land values alone would not achieve productivity of the garden city; it also required increase in productivity of the enterprises and factories established in the garden cities. In this regard, investors could only benefit if there was a rise in productivity of their enterprises rather than on rise in land value.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Surplus productivity in the garden city would encourage capital and labour flows into the garden city, which would create more congestion in the garden city than anywhere else would.  The physical realization of Howard’s garden city was in the construction of the city of Letchworth guided by architects, Raymond Urwin and Barry Parker. The design of the residential homes of this garden city was attractive but it took longer than Howard had anticipated for the city to attract people (Glasscock 1996, p.24). After 35 years of Letchworth’s establishment, it had only 15,000 inhabitants compared to the population of 30,000 anticipated. In addition, most workers could not afford houses in the garden city with some opting to commute from other towns while others opted for cheap informal settlements set up by speculators. The envisioned idea of the garden city did not match the Letchworth city in terms of architecture and social life. Frank Lloyd Wright’s and the Broada cre City Broadacre City was Frank Lloyd Wright’s concept for the ideal multi-cantered, low density, suburbs. The utopian planner introduced this scheme with an aim of decongesting cities in 1932 in his book, The Disappearing City. In terms of population density, Broadacre city, catered for a low population with a density of five people per acre. The scheme aimed at reducing congestion in cities to avoid development of informal settlement. In contrast to Ebenezer’s garden city, which involved turning the city into a suburban countryside, the Broadacre city converted the countryside into a city (Rybczynski 2005, p. 17). The spread of the Broadacre city would constitute an urban where each family had access to small farms and recreational sites with industrial and other urban facilities placed a few miles from the residential places. The Broadacre city plan embodied economic reforms based on Wright’s model of democracy, which he described as Usonia. The Usonia was against Marxist’s socialism ideology and Wright derived it from the ideas of the nineteenth century utopians like Edward Bellamy and Thorstein Veblen. The Wright’s plan allowed the families to own homes and relieved them from property owners. Wright assumed that the land use would be the responsibility of the owners (Rybczynski 2005, p.132). Under Wright’s plan, the land would be public and then redistributed to the private owners including families, who would use the land productively. Therefore, the Usonia concept opposed cooperation but encouraged individualism whereby it encouraged private ownership of land. The Broadacre city offered an opportunity to ordinary people to live in countryside lifestyle while enjoying the economic opportunities and recreations associated with urban centres.  Wright’s plan envisioned that the residential houses adopt any design the owners preferred with no two houses built the same so long as the structures, the constru ction method and the materials used in the construction were integral and natural. A central civil authority would have the responsibility of determining what is natural and integral to the place. The plan envisioned an â€Å"a sprawling, open, individualistic structure† where families would live in suburbs surrounding urban centres (Duany, Zyberk, Speck 1992, p. 54). Wright realized that in his plan physically separate the communities. The plan brought communities of interest together through communication and transportation and the process would replace the physical communities of a place. However, Mumford criticised the plan’s suggestion of establishing an individualistic structure by referring to it as being antisocial that would affect the decongestion of the cities. It is evident that Wright’s plan would have turned out to be disastrous if implemented. The suburbia would not match Broadacre City’s low densities, which Wright envisioned would become suburbs. Under the Broadacre plan, the buildings were concentrated in the city centre, where offices and industries were located. This would have contributed to congestion within the city, as more activities were concentrated there (Duany, Zyberk, Speck 1992, p.231). Wright’s Broadacre city intended to reduce congestion from the city centre; however, concentration and dispersal are a common occurrence in cities. In addition, Wright assumed that the rise in land value would promote economic development and improvement in the standards of living. However, land alone cannot contribute to economic prosperity particularly in cities (Rybczynski 2005, p. 42). Economic prosperity in cities allows more people to own land and homes hence his assumption that increase in land value would lead to dispersal could have turned out to be incorrect as more people could afford land leading to concentration. Wright never envisioned the suburban homes to be sites of wealth production in the fut ure. Nowadays, suburban homesteads can be used to generate income through crop farming and livestock rearing, which can support families living within city suburbs.  Broadacre plan was not fully implemented as Wright had envisioned. Nowadays, the city suburbs do not match what Wright had envisioned in his Broadacre city plan (Hall, Ward 1998, p. 75). This indicates an appropriate judgment considering that the rationale behind Broadacre City was Wright’s program of social reform. In essence, the substance of Broadacre City was aesthetic and to curb the problems occasioned by overpopulation (Ritzdorf 1996, p. 212). Wright envisioned a system of governance in Broadacre city that promoted architecture and aesthetics with regard to particular culture rather than on physical city construction laws. Wright did not seek to protect nature but rather he proposed the establishment of homes in the countryside (Muschamp 2001, p. 67). This would have affected nature and wildlife. Wright defended his plan by suggesting that establishment of the city within the country side would not affect nature but would contribute to improved quality of the building and the city. However, establishment of human settlements in countryside forests would have adversely affected the wildlife. In addition, the Broadacre city plan cannot be a conventional architectural design for all cities because of its emphasis on aesthetics but rather a plan designed to redeem a particular city from the challenges of high population by promoting dispersal. Nevertheless, Wright’s plan would have found a role in the modern urban planning, which increased demand for aesthetics as its central aspect characterizes (Duany, Zyberk, Speck 1992, p. 27). Most people demand public action to prevent acquisition of public places as part of aesthetics. In this regard, people feel that aesthetics, as enshrined in Wright’s plan, are both a public and private affair and building homes away from the city center is a common phenomenon nowadays. LeCorbusier and the Radiant city LeCorbusier’s Radiant city concept arose out of a new concept of expanding the individual freedoms and establishing a capitalist economy. The plan involved clearance of the existing prehistoric cities followed by the rebuilding of a modern city using modern architectural designs (Le Corbusier 1967, p. 41). Under this plan, quality housing, les unites, would be available to everyone based on the size of each family. He envisioned a city with buildings five meters above the ground and therefore ensuring allocation of more land to nature. Within the les unites, would be pedestrian streets linking buildings together (Richards 2003, p.114). Le Corbusier suggests that the center of the radiant city would mainly composed of commercial buildings mainly skyscrapers (about 5%) while the surrounding area (95%) would be occupied by trees and parks. Residential buildings taking a zigzag shape would surround the city center. The residential buildings would house catering and accommodation services. In essence, Le Corbusier based his plan on the belief that modern age architecture should be suitable and expressive of modernism. In the Radiant city design, he employed architectural skills and picture designs to develop his idea of the city as opposed to a rational basis (Etlin 1994, p. 72). Le Corbusier, unlike Howard, did not belief in the natural economic order but believed that leadership within the society was important (Serenyi 1975, 82). In his plan of the radiant city, Le Corbusier envisioned a pyramid of hierarchies with the workers occupying the bottom position so that the order would prevail in the society (Fisherman 1977, p. 211). The leadership would occupy the top position in his plan of the radiant city for easy administrative control of the workers. Le Corbusier envisioned social lifestyle of the citizens of the radiant city. He saw that division of labor within the society wou ld promote unity and cooperation, which is necessary to promote economic growth (Fisherman 1977, p. 65). Unlike his first design of the Contemporary city of three million people, where he designed the residential buildings according to economic classes arranged around the business center of the city, he designed the Radiant city for all people with less regard to the economic classes (Le Corbusier1967, p. 87). The les unites accommodated every member of the society regardless of his/her economic status and promoted cooperation and equality (Fisherman1977, p. 41). Additionally, Le Corbusier integrated nature into the residential areas by allocating less land to residential housing and the rest to nature.  Despite Le Corbusier design of the Radiant city providing a way of promoting equality and individual freedoms, the plan raised many concerns. Kennedy (1998, p. 53) believed that Le Corbusier individual freedom that were promoted by the Radiant city design were not personal liberti es since Le Corbusier did not consult the citizens for whom he was planning for (Curtis1986, p. 112). His design of the facilities, services, and rules were more favorable to him rather than to the other citizens reducing the citizens into mere performers with no say in issues affecting their social life (Verma 1996, p. 72). Moreover, under the Radiant city plan, individuals had no say in the administration or governance issues affecting their lives and the plan expected them to act rationally all the time with antisocial behavior not conceived in his plan (Kennedy 1998, p.54). In this respect, the plan did not cater for social problems such as crime in the society. In addition, the plan did not address the needs of minority members of the society but rather considered that all citizens were equal. However, it was highly unlikely that all the people would behave rationally with no criminal or social problems taking place within the radiant city. In this regard, Le Corbusier assumpti on that humans would behave rationally with no crime or any social problems occurring was rather naà ¯ve than real (Kennedy 1998, p. 63). In the radiant city, Le Corbusier notion of authority was rather bureaucratic and patriarchal than administrative (Sennett 1980, p. 74). The plan, less grand unities, reserved for the administration the top part of the residential houses consisting of multi-storey buildings and skyscrapers, which represented a paternalistic authority (Kennedy, 1998). In addition, Hawkins (1997) while supporting the radiant city design concept as a way of providing housing for the masses in the wake of unprecedented population growth occasioned by industrial revolution argues that the design would have ultimately led to congestion in future (, p. 82). Conclusion The theories of Howard, Wright, and Le Corbusier were remarkable providing an alternative to the architectural designs of the nineteenth century urban planning. In addition, they offered solutions to the s ocial problems experienced in the nineteenth century cities and promoted quality of living for the citizens. However, the plans failed to address all the social aspects affecting the nineteenth century cities and consequently their implementation would have produced disastrous results. Despite the plans having a visionary view of connecting humans with nature, they failed to address issues related to human history and the future population growth needs. Reference List Cherry, G., 1970. Town Planning in the Social Context. London: Leonard Hill Curtis, W., 1986. Le Corbusier: Ideas and Forms. New York: Rizzoli International  Publications. Duany, A., Zyberk, E., Speck, J., 1992. Suburban Nation: The Rise of Sprawl and the  Decline of the American Dream. New York: Routledge Etlin, R., 1994. Frank Lloyd Wright and Le Corbusier: The Romantic Legacy.  New York: Manchester University Press Fishman, R., 1977. Urban Utopias in the Twentieth Century. Cambridge, Mass: The MIT  Press.  Glasscock, R., 1996. Ebenezer Howard: 1850-1928 and the Garden  City. Advanced journal in Policy Studies: Sustainable Urban Design, 15(7). pp. 126-142. Gossel, P., Leuthauser, G., 1991. Architecture in the Twentieth Century,  Berlin: Benedikt Taschen Hall, P., Ward, C., 1998. Sociable Cities: The Legacy of Ebenezer Howard John. New  York: Wiley Sons. Howard, E., 1902. Garden Cities of To-morrow. London: Routledge. Kennedy, R., 1998. Le Corbusier and the Radiant City Contra: True Urbanity  and the Earth. Advanced journal in Policy Studies: Sustainable Urban Design, 15(7), pp. 221-223 Le Corbusier., 1967. The Radiant City. New York: The Orion Press  Mumford, L., 1946. Green-Belt Cities: The British Contribution. London: Faber and  Faber Muschamp, H., 2001. File Under Architecture. New York: MIT Press Richards, S., 2003. Le Corbusier and the Concept of Self New Haven  London: Yale University Press. Ritzdorf, M., 1996. Feminist Thoughts on the Theory and Practice of P lanning.  Cambridge, MA: Blackwell Rybczynski, W., 2005. City Life. New York. Blackwell publishers Sager, T., 1992. Why Plan? A Multi-Rationality Foundation for Planning. Scandinavian  Housing Planning Research, 9, pp. 129-147 Sennett, R., 1980. Authority. New York: W.W. Norton and Company.  Hall Publishers. Serenyi, P., 1975. Le Corbusier in Perspective. Englewood Cliffs, NJ: Prentice Hall  Publishers. Sitte, C., 1965. City Planning According to its Artistic Principles. New York: Random  House Verma, N., 1996. Pragmatic Rationality and Planning Theory. Journal of Planning  Education and Research, 16 (1), pp. 5-14 This essay on Planning History: Utopian Planners was written and submitted by user Coen Sweet to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.