The Purpose of Copyright Essay -- Property Laws

In today’s ever-accelerating world, we constantly find ourselves in a whirlwind of vague and complicated legal issues. Several of these relate specifically to something we encounter every time we listen to a song, look at a photograph, or read a book⎠¯copyrights. It appears that all these new controversies over copyrights and copyright infringement may be exaggerated or irrelevant. However, these issues pertaining copyright are neither irrelevant nor exaggerated, although this excessive attention constantly being drawn to it is certainly worth noting. The fact that copyrights are creating such an upheaval should not be attributed to over exaggeration. Instead, we must see this as a sign that copyrights as they are currently being maintained are in need of inspection and perhaps revision. Our excessive emphasis on claiming something as our property has caused copyright to act counter to its initial purpose. In order to best understand what the initial intention of copyrights was, it is necessary to look to where it is first expressed in our society. As it turns out, copyrights have been in place in our society since the crafting of the Constitution. Although there were several views as go how to best implement it, ultimately it was Thomas Jefferson’s notion of copyright that was most clearly incorporated into the Constitution. In it, it â€Å"†¦gives Congress the authority to ‘promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries’† (Lethem 63). This inclusion of a copyright for authors and inventors had a clear purpose⎠¯to create an incentive for the mass of typically ordinary people to create and innovate. By securing a pa... ...ss. Carolan, Michael S. â€Å"Constructing the ‘pure’ inventor: individual, collective, and corporate authorship within patent law.† New Genetics and Society. 27.4: (301-310). Helprin, Mark â€Å"Digital Barbarism: A Writer’s Manifesto.† Harper: HarperCollins Publishers. Litman, Jessica â€Å"Creative Reading.† Khan, B. Zorina. â€Å"The Democratization of Invention: Patents and Copyrights in American Economic Development, 1790-1920.† Nber: Cambridge University Press. Lethem, Jonathan. â€Å"The Ecstasy of Influence: A plagiarism.† Harper’s Magazine. The Founders' Constitution, Volume 3, Article 1, Section 8, Clause 8, Document 12 http://press-pubs.uchicago.edu/founders/documents/a1_8_8s12.html The University of Chicago PressThe Writings of Thomas Jefferson. Edited by Andrew A. Lipscomb and Albert Ellery Bergh. 20 vols. Washington: Thomas Jefferson Memorial Association, 1905.

Low Voter Turnout in the United States Essay

Throughout American history, there has been a steady decline in voter turnout. Not only has this been â€Å"humiliating† for the United States, low voter turnout has been and always will be a threat to American Democracy. The concept of democracy is dependent on citizens actively participating in elections and voting to select representatives for public office. The government cannot be representative of the people, unless the people elect its representatives. Voter turnout is a major indicator of how citizens view their electoral system, and whether or not they believe that the system is working. There are numerous factors that impede voter turnout, including: citizens’ political attitudes, demographic factors, and the structure of the electoral system. The established registration process is one of the main causes of low voter turnout in the United States. Unlike many democracies, â€Å"the United States places the burden of registration on the individual† (Vanishing Voter, 7). There are no penalties for citizens that do not register or vote in American elections. Some propose that requiring citizens to vote and imposing penalties on those who fail to do so will increase voter turnout. The dilemma with this proposal is that it is fundamentally undemocratic. Citizens of democratic societies are promised the right to vote. In guaranteeing the right to vote, citizens are guaranteed the right not to vote as well. There are better solutions to the problem of low voter turnout in the United States than enacting compulsory voting laws. America has not established a national system of automatic registration; procedures for voter registration differ from state to state. A universal system of voter registration would make it much more simple for people to vote. The problem with this solution is that automatically registering people to vote does not imply that they will actually go out and vote. Six states have enacted a good solution, same day registration, which has been proven to increase voter turnout anywhere from 10 to 17 percent (Donovan, 182). Same day voter registration allows qualified citizens to register to vote on the day that elections are held. Because many states do not allow same day registration, many Americans do not take the time and effort to register in the first place; same day registration helps to solve this  problem. The registration process and electoral system also creates a problem of convenience. Not only is the registration process inconvenient, Election Day itself is problematic. Election day is held on a Tuesday, impeding the majority of the population from voting due to work-related duties and responsibilities. The solution for this problem is to make Election Day a national holiday. If citizens did not have the responsibility to be at work, they would be much more likely to find time and take the effort to go out and vote. Other solutions have been offered, including: extending the voting period, enacting absentee ballot systems, and voting by mail. While all of these other solutions have made it easier, cheaper and more convenient for citizens to vote, the costs do not fully outweigh the benefits. In any kind of early voting solution, the biggest concern is that early voters vote without knowing all of the significant information needed to make a well-informed vote. Many occurrences and revelations come at the end of the campaigns and can no longer influence voters that have already voted and cannot change their selection. A voter’s political attitude is the biggest indicator of whether or not he or she will vote. â€Å"Interest in the election, concern over outcome, feelings of civic pride, and political efficacy [all] affect how people vote† (Wayne, 83). Throughout American history, there has been a decline in partisan identification. Party allegiance is a stimulus for voting. Since citizens are not as loyal to partisanship as they were in the past, they have less incentive to actually go out and vote in elections. â€Å"As a group, independents are 12 percent less likely to vote than are strong partisans† (Wayne, 83). Along with the decline in party identification, interest in political campaigns has been declining steadily overtime as well. In today’s society, politics is forced to compete with so many other things in the media or at home for people’s attention. Media audiences are more interested in human-interest and celebrity stories than they are in politics. Because of this, election coverage in the media has greatly declined. The media’s coverage of the election is dominated by the use of  negative advertising and attack journalism. The frequent use of negative advertising in the media has played a role in America’s declining voter turnout. These negative advertisements repel potential voters; causing them to lose interest in the political campaign. Along with negative advertising, the lack of competition between candidates has also decreased political interests and led to low voter turnout. Low political efficacy has greatly reduced voter turnout in the United States. Voter efficacy is the belief that one’s vote counts and that voters can change the way government works or public officials behave (Wayne, 83). There are many factors affecting voter efficacy, including education and income. Income plays a major role in voter turnout. With the expansion of poverty in the United States, the gap between the rich and the poor is steadily growing. Citizens of lower income typically have lower voter efficacy. They are also less concerned with the outcome of the election than citizens of higher income levels, therefore, many of these people simply choose not to vote because they feel that they will not be affected by the outcome of the election. Income, education, and likelihood to vote are all positively correlated; more educated citizens have higher income levels and are much more likely to vote. Education is the greatest influence on voting behavior. â€Å"It provides people with the skills for processing and evaluating information; for perceiving differences among the parties, candidates, and issues; and for relating these differences to personal values and behavior† (Wayne, 83). The more educated a citizen is, the more interested they are in the election and the more concerned they are with the outcome. Educated citizens also have a great sense of civic pride and higher voter efficacy. All of these factors combined lead to a much higher likelihood of a person to actually turnout and vote. To increase political education, some propose conducting citizen education campaigns. The goal of these campaigns is to educate the people on the benefits and responsibility involved with voting. The main problem with this solution is that it is easier said than done. It is very hard to persuade  nonvoters to take the time and make the effort to educate themselves on the reasons why they should vote. A better way to increase education and voter turnout is to encourage grassroots campaigns. These â€Å"get-out-the-vote† campaigns help motivate interest in elections with nonvoters and can influence them to vote, increasing voter turnout. Neither conducting citizen education campaigns nor encouraging grassroots campaigns can promise an increase in voter turnout, but both can help influencing citizens to vote and possibly lead to higher voter turnout in the United States. Low voter turnout is a big problem in the United States. According to Wayne, â€Å"Low turnout suggests that people may be alienated, lack faith in the candidate and parties, think that the government is and will remain unresponsive to their needs and interests, and believe that they cannot achieve change through the electoral process† (Wayne, 85). The voter turnout problem is very hard to solve because low voter turnout itself leads to less voting. The numerous factors that impede voter turnout include: citizens’ political attitudes, demographic factors, and the structure of the electoral system. Some of the impediments are structural, but the most influential impediments are caused by other factors, such as the media, political campaigns, and the American citizens. Overall, the benefits of increasing voter turnout greatly outweigh the costs of doing so. While some proposed solutions may work better than others, it is most important to change voter’s attitudes about politics and make it more convenient for American’s to both register and vote. Higher voter turnout will reverse the relentless cycle of low voter turnout and help lead to a more representative democracy. Bibliography 1. The Road to the White House 2008. 8th edition. Stephen J. Wayne. 20082. Reforming the Republic: Democratic Institutions for the New America. Todd Donowan and Shaun Bowler. 2004

The United Kingdom Should Remain A Member Of The European...

Topic 1: Decision making process The purpose of this assignment is to discuss and analyse if the United Kingdom should remain a member of the European Union or if they should leave. And to also discuss the decision making process used in analysing the assignment. Decision making is the process of making choices by setting goals, gathering information, and assessing alternative occupations. Diagram of decision making you realize that a decision must be made. You then go through an internal process of trying to define clearly the nature of the decision you must make. The real trick in this step is to know what information is needed, the best sources of this information, and how to go about getting it The European Union (EU) is an economic-political union of 28 member states that are located primarily in Europe. It operates through a hybrid system of supranational and intergovernmental decision-making. On 23 June, the UK will settle a question that s been shaking close to the surface of British politics for a generation: should the country remain within the European Union, or leave the organisation and go it alone. Both sides insist that the outcome of the vote will settle the matter of Britain s EU membership for the predictable future. The Conservative election victory last year started a manifesto pledge to hold an in/out referendum on Britain s membership of the Europ ean Union by the end of 2017 The United Kingdom should not leave the EuropeanShow MoreRelatedShould The United Kingdom Remain A Member Of The European Union? Essay1664 Words   |  7 Pagesthe nickname for a British exit of the European Union after the June 23 referendum asking voters: â€Å"Should the United Kingdom remain a member of the European Union or leave the European Union?† (Taub 2016). The idea of Brexit had been forecast since January 2013 â€Å"when Britain’s Prime Minister David Cameron committed to holding a referendum on EU membership† (Dhingra 2016). It is still unclear as to what Britain wishes to accomplish by exiting the European Union. Brexit was voted on June 13 and followingRead MoreThe United Kingdom And The European Union1269 Words   |  6 PagesThe United Kingdom joined the European Union in 1973 for improved economic stability and to establish themselves as a European power. During World War II the United Kingdom had grown economically, however after the war, the UK nationalized many core industries such as health care and it negatively affected the economy (Coricelli). In joining the European Union, the United Kingdom hoped for investment opportunities in machinery and stability in the economy through jobs and trading partners (Coricelli)Read MoreThe Treaty Of The European Union1303 Words   |  6 PagesOn Thursday, June 23rd, 201 6, the United Kingdom invoked Article 50 of the Treaty of the European Union and voted to whether or not to leave the European Union. This June 2016 referendum, which is most commonly known as â€Å"Brexit,† had the largest voter turnout in the United Kingdom since the 1992 General Election, roughly 33.5 million voters. The referendum resulted fifty-two percent in favor of leaving the European Union. The separation process is difficult. By just agreeing to the negotiations toRead MoreThe European Union940 Words   |  4 Pageswhich the United Kingdom voted to leave their membership in the European Union. In order for the vote to be official they must use a little known provision in their membership clause with the European Union called the Article 50 or the Lisbon Treaty. The European Union was a political and economic cooperation where participating countries used their collective financial and social practices to strengthen social and economic stability. â€Å"The Europe an Union began in 1951 as the European Coal and SteelRead MoreThe European Union And The United Kingdom1362 Words   |  6 PagesThe European Union and the United Kingdom have a long history. Winston Churchill himself is credited with bringing about the idea for the EU as a â€Å"United State of Europe†. Many in the U.K are now starting to feel that this may not be the best alliance the U.K could be in. The EU is seen by many Brits as being too much oversight for too little gains. The U.K does not even identify as majorly European, and therefore believe they should not have the oversight of the EU. The United Kingdom leaving theRead MoreThe European Union ( Eu )1223 Words   |  5 PagesThe European Union(EU) contains just 7% of the world’s population, but produces 1/3 of the world’s Gross National Product (Delegation of the EU to the US). A single market merges all 28 countries of the EU into one economic free-trade zone with no trade tariffs imposed on one a nother. The EU accounts for 51% of all trade that the United Kingdom (UK) conducts with the world (The Data Team 2). Since its admittance to the Union in 1973, Britain’s economy has grown from 326 million Euros per capita toRead MoreEuropean Union And Its Influence On The State1134 Words   |  5 PagesIntroduction European Union is remains one of unique and controversial organisation in nowadays which symbolise the association of European countries with shared sovereignty over socialism and imperial ambitions. President of the European Council Herman Van Rompuy once sad that: â€Å"The age of the nation state is over and the idea that countries can stand alone is an ‘illusion’ and a ‘lie’† (Martin D., 2010). Nigel Farage, the leader of the United Kingdom Independence Party claims the opposite:†WeRead MoreA Report On The European Union1646 Words   |  7 PagesThe European Union contains just 7% of the world’s population, but produces 1/3 of the world’s Gross National Product (Delegation of the EU to the US). A single market merges all 28 countries of the EU into one economic free-trade zone with no trade tariffs imposed on one another. The EU accounts for 51% of all trade that the UK conducts with the world (The Data Team 2). Since its adm ittance to the Union in 1973, Britain’s economy has grown from 326 million Euros per capita to 6,116 million EurosRead MoreThe Soviet Leader Vladimir Lenin And The New Millennium Essay1548 Words   |  7 Pageshold onto their patents with vice grips and raise prices of essential medications while they cost only pennies to produce. Progress is like Pandora’s box in that it proliferates the spread of evil, greed, and corruption, while the fragile hope that remains in the jar continues the human race in its attempts to move forward. We tell ourselves, â€Å"Maybe we’ll get it right this time. This time we’ll learn for our predecessors mistakes.† Very rarely do these hopes materialize. Politics, especially politicsRead MorePolitical And Economic Impacts Of The British Voters985 Words   |  4 Pagestheir country out of the European Union. The leave side has prevailed with 52 percent voters supporting Brexit, or Britain s exit, while the remain side getting 48 percent. Some of the political and economic impacts have been already felt in the United Kingdom and registered in Europe and across the world. The others will come as political and economic uncertainties continue. In the United Kingdom, the Conservative Prime Minister David Cameron, who had led the remain side, announced that he would

Writing Process Analyzing Your Audience - 1356 Words

The Writing Process The first thing to do in the writing process is to select a topic and do research on that topic. Once you’ve selected a topic and have done enough research to tentatively commit yourself, you can then go into the four phases of the writing process; I. Prewriting: Analyzing your audience, determining your purpose in writing, limiting the scope of what you will cover, and generating potential content. II. Drafting: Making a case and structuring your evidence for that case. III. Revising: Putting yourself in the place of the reader, rethinking your approach, and making changes that will improve your case. IV. Polishing: Editing and proofreading to eliminate errors and improve the coherence and the readability of your†¦show more content†¦Annotating a text with your thoughts about the authors arguments or summaries in your own words will help you understand the text, and may be useful if you need to return to it later. ( University of Sussex, 2016)1 Many students find that marking their study texts with highlighter pens or annotating them by writing in the margins helps them to concentrate, and it enhances their understanding. Just deciding what to highlight, underline or annotate encourages you to think critically and formulate your own response to the text. To use this technique, first read quickly through the text to get an overview of what it s about. Then read it more closely, pausing at the end of each paragraph to identify the main points. In the page margins you might like to add brief comments and queries as annotations. Then you decide what you want to highlight or underline to help you to recognize key points and their significance. You may decide to emphasize †¢ A sentence or word that sums up an important idea †¢ Quotations †¢ Statistics †¢ Specialized terms †¢ Important or useful data †¢ Examples or links to other ideas. You could use different colored pens to mark different kinds of information, but be careful not to highlight so much that it becomes distracting. This technique is not a replacement for making your own notes, but may form the first stage in creating diagrammatic notes (such as mind maps) as well as preparing for essays. (The

Outline Of A Business Plan - 1617 Words

Appendices Appendix A†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 8 Appendix B†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 9 Appendix C†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 10 Appendix D†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 11 Appendix E†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 12 Appendix F†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 13 1. Executive Summary The purpose of this business plan is to delineate my business idea and transfigure it into a successful and distinguished scrapbooking company. After searching the internet and social media, I have not come across a reputable company that will offer the same services as Happy Scrappy. Most companies will create photo books or send readymade scrap books in which customers will have to add in photos themselves. Although these companies sound similar Happy Scrappy allows customers to candidly create the scrapbook from start to finish. After comprehensive research in to the scrapbooking market, I have discovered a gap which can be undoubtedly accommodated for by Happy Scrappy. We specialise in a variety of uniquely hand crafted scrapbooks which are personalised by the customer using their own photos, and themes or colours. The business will have a range of suggested template designs however, the customer will have the ability to change or create a whole new design using the interactive website. 2. Company Description Happy Scrappy is a Handmade Personalised Scrapbook company. We will operate through an interactive website which will be one of the fundamental functions of the businessShow MoreRelatedAn Outline Of A Business Plan Essay2049 Words   |  9 PagesThat is a business plan? A business plan is a road map for a team or business and it can be used, as an eternal tool for potential customers and partners. The business plan should describe in details the entire business venture, technology behind it, the size of the target market, customers, competition, business model, team, financial needs and exit strategy. The business plan gives a company insight and allows them to think things through early enough in the process to ensure they have a well definedRead MoreOutline Of A Business Plan1777 Words   |  8 PagesTask 2: Business Plan IMRAN KAISAR TALUKDAR C0206VSAVSA0614 TABLE OF CONTENT INTRODUCTION: 2 ABOUT LUCOZADE: 4 ANALYSIS: 5 TARGET MARKET: 6 Who will buy the product? 7 Why do they buy? 7 GROWTH OPPORTUNITY 8 REFRENCES: 10 Internet Sources: 10 â€Æ' INTRODUCTION: Marketing is a powerful tool for any business. If the product marketing isRead MoreManagement and Business Plan Outline1301 Words   |  6 Pagesï » ¿How to Write a Business Plan Writing a business plan may sound simple enough, but it actually takes several dire and crucial steps. According to entrepreneur Darrell Zahorsky, the following steps are all essential in comprising a plan for one’s business: 1. â€Å"Audience Funding Type: When writing a business plan, you must determine who will be reading it. 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Does Hong Kong Recovered from the Subprime Crisis Free Essays

Background In 2007, the soaring mortgage delinquencies and foreclosures in the United States triggered the sub-prime crisis and soon spread over the world. In this report, major causes of the sub-prime crisis and its impacts on Hong Kong’s economy will be examined. Different measures made by regulators and financial institutions to tackle this crisis will be discussed also. We will write a custom essay sample on Does Hong Kong Recovered from the Subprime Crisis or any similar topic only for you Order Now Lastly, evidence about the recovery of Hong Kong will be provided. The sub-prime crisis In 2007, the collapse of subprime mortgage-backed securities (MBSs) brought to a huge loss among mortgage lenders. Many large financial firms including New Centaury Financial Corporation and Lehman Brothers Holdings Incorporation declared bankruptcy, which resulted in a downturn in the global financial market and a series of chain reactions spreading over the world afterwards. Impact of the sub-prime crisis on the Hong Kong financial institutions After the outbreak of the subprime crisis, the Hong Kong financial market shrank along with the global economic recession. The stock market in Hong Kong declined from recorded high of 31,000 in October 2007 to 20,700 in March 2008 (Diagram 1) as investors losses their confidence and withdrew money from the market. Moreover, many banks wrote down huge amount of money for numerous sub-prime related securities. For example, HSBC wrote off US$17. 284 billion for potential losses in MBS or MBS related investments (HSBC 2008). Bank of China (Hong Kong) also wrote down HK$550m subprime-linked assets (Liu 2008). Lastly, there was a credit crunch due to the uncertainty about the amount of MBS related assets held by banks and insurance companies. As a result, many financial institutions reduced loans to each other and increased the interest rate because of high credit risk. Many new companies and corporations were unable to obtain fund to further develop and improve liquidity. Measures undertaken by the regulators and financial institutions In order to strengthen the confidence of the citizens and stabilize the banking system, the Hong Kong Deposit Protection Board strengthened and amended the Deposit Protection Scheme Bill in 2011. The 100 % deposit protection scheme of HK $100,000 was first launched in 2008. The amount of protection was increased to HK$500,000 in 2011. Besides, the Hong Kong Monetary Authority has made certain measures to deal with the problem. Firstly, HKMA announced a temporary policy which allowed licensed banks to access to liquidity assistance through the Discount Window with US dollar assets and extended the duration of liquidity assistance up to three months on 30th September 2008. These measures helped to improve liquidity within the banking system and further ease pressures in the interbank market (HKMA, 2008). The Hong Kong Interbank Overnight Offered Rates dropped from 3% to 0. 3% in a few weeks time after the announcement of these measures (HKMA, 2010). Secondly, the HKMA implemented a macro stress testing of the banking sector’s vulnerability to shocks such as the sub-prime crisis. Meanwhile, HKMA used the macroeconomic credit risk models to improve the stress testing of banks’ residential mortgage loans and other loan portfolios (Carse, 2008). The objective of this testing is to help HKMA monitor the banking sector and avoid problems similar to sub-prime crisis from happening in Hong Kong. Financial institutions wrote off large amount of money and tried to raise money in the market to improve their liquidity. In 2009, HSBC announced a USD$17. 7 billion rights issue. Shareholders were offered five new ordinary shares for every 12 existing shares at a price of HK$28 per new share (HSBC, 2009). This helped HSBC to restore its capital-debt ratio and allowed it to go over bad times without government assistance. Has Hong Kong economy fully recovered? According to the statistic in 2011, the real GDP growth rate was restored to 5% from -2. % in 2009. And the unemployment rate was dropped to pre-crisis level, it decreased from 5. 4% in January 2009 to 3% in December 2011 (Hong Kong Census and Statistics Department , 2012). The supply of money is in an increasing trend as well. Both M3 and domestic credit were having a 10% increase in 2010, compared with a decrease in 2008 and 2009. And the inter-bank offered rate dropped to a very low level of 0. 09% (Hong Kong Census and Stat istics Department , 2012). These figures show that Hong Kong economy has restored gradually to pre-crisis level. However, there are certain hidden problems. Firstly, regulators worry about the inflation problem in Hong Kong after the injection of trillions of funds into the market from the Federal Reserve. Since HK dollar is linked with US dollar, the large increase in money supply in U. S dollar will in turn accelerate the inflation in Hong Kong. Secondly, the case of Lehman Brothers Mini Bond has shown that current regulations on financial products are not sufficient, small individual investors can be misled easily. Further regulations and monitoring on financial products is necessary. Lastly, after the â€Å"lesson† of subprime crisis, many people lost their belief in financial investment which as a result restricted the development of financial market in Hong Kong. To conclude, the subprime does not only cause many adverse consequences to the global financial market including Hong Kong, but also brings some hidden problems. The cooperation between government and financial institutions is vital to help Hong Kong economy recover from the sub-prime crisis. How to cite Does Hong Kong Recovered from the Subprime Crisis, Essay examples

Art A Brief History Essay Example For Students

Art A Brief History Essay French Realism was predominately a result of great political and social disruption. We can date back to 1848 as the principal time of Realism. The revolution in France led many artists to explore the idea of presenting experiences of the life that was around them. This included many paintings of poor and average people, who were not the average subject of previous artists. Realism and Naturalism was an idea of expressing the actual world around them. This was quickly embraced by other countries including the United States and Russia. Realism was opposed to the earlier notions of Romanticism and Neoclassicism and was supported by the view and belief of scientific methods. By the mid 1860s, Edouard Manet became the unofficial leader of a group of artists which would take the French Realists tradition to a new level. These artists known as Impressionists began to paint outdoor images such as country sides, and such in an effort to record the effects of light and environment. This is the period in which nature and the reality of its colors became dominant. In my opinion, the notion of reality changes from an actual view of what is seen (Realism) towards an image which contains the artists feelings and emotions (Impressionism). Impressionism seems to pull you into the scene, to make you feel as if you are looking in instead of at the image. Post-Impressionism was on extension of Impressionism but differed in such as to utilize more geometric shapes, distort form for expressive effect and use unnatural colors. Most of the Post-Impressionism artists were actually from the Impressionist period. These artists abandoned their art form in order to create a more personal art. I feel that these artists were trying to find new ways to express themselves without being restricted of the previous styles ahead of them. I think that during this time of artistic evolution, many great strides were made in order to show ones inner self through artistic expression. The artist which most impresses me is E`douard Manet. He has spectacular paintings but aside from that, there were many controversial issues about him. His paintings seem to not just tell a story or give a little information but rather lure one in to explore what was seen to what was being felt. There seem to be a deeper more self exploring factor within his work. I believe he was the one who led the Impressionism ways and start creating art differently.