Final Essay English 1Bs Journey - 1128 Words

English in its entirety can be simply described as author, biologist and physician, Lewis Thomas had once said, â€Å"We pass the word around; we ponder how the case is put by different people, we read the poetry; we meditate over the literature; we play the music; we change our minds; we reach an understanding. Society evolves this way, not by shouting each other down, but by the unique capacity of unique, individual human beings to comprehend each other† (Thomas 120). The impact literature can bring onto others is simply amazing and is a gift that should be shared with everyone. This spring semester has quickly broadened my perspective. Being that this is my freshman year in college I prodded around ideas of what majors I had interests in. I†¦show more content†¦I rarely read the assigned readings in English 1A and expected to do the same for 1B’s course. However, when I received the daily checks back and got zero after zero I realized I had my work cut out for me. This class challenged me, for the first in my English studies I had to work hard to earn an acceptable grade. Our first essay however, I was not too thrilled to have to write about Michelle Boisseau’s â€Å"Self-Pitys Closet†. I felt that her work was already self explanatory; the title said everything about the poem that needed to be said. The beginning of Boisseaus poem starts off with a slur of emotional turmoil, â€Å"depression, loneliness, anger, shame, envy† (Boisseau l1).I did not like the writing style because it bluntly listed how the character felt at the time. I wanted to investigate the core of why she felt a certain way but instead I was handed her emotions. I felt the urge to expose the character as an over emotional train wreck who feed off of empathy. At one point in my analysis I wrote â€Å"The speakers life is consumed by fear of what others may think of her. She constantly is searching for the answer which would lead to acceptance not only from others, but also within her own self†. I had not gained any sympathy for the character. I felt that if she wanted to gain acceptance from others she would first has to accept her own flaws and not sulk in misery. The purpose of the assignment was to create a response. However, I found myself analyzing Boisseau’s

Effect of Deceptive Advertising on Consumption †MyAssignmenthelp

Question: Discuss about the Effect of Deceptive Advertising on Consumption. Answer: Introduction: A fundamental rule in the application of contract law requires parties to a contract to manifest their intention to be bound by the agreement. This rule dismisses the notion that typical negotiations can lead to a binding agreement. Sometimes, however, the partys actions seem so clear that they have agreed on the major terms. Later in the course of negotiations, disparities come, and talks break. One party sticks to that there was a contract, while the other distances itself from the claimed existence of the contract. This paper will be discussing such issues using one similar scenario. The paper will apply the various reasonings that different courts have employed to come up with a fair judgment. Both parties were negotiating a contract that broke when they were about to finish it. Parties had exchanged offers and counter-offers. Lianne had asked Mary to prepare a quote that she did, but the negotiations broke in the middle. Mary seeks to enforce the negotiations. This one is a matter as to whether negotiations for a contract can become binding on the parties. Negotiations involved the exchange of price quote that Mary sent to Lianne, and she relies on it to enforce the broken talks. It is common for parties negotiating a potential transaction to exchange preliminary agreements. However, the law can only enforce a contract where all the essential elements exist (Baird and Clare, 2017). An enforceable agreement requires an offer and acceptance. Apart from the two, the law requires the agreement to have a bargaining element and a manifested intention to create a legal bond (ChenWishart, 2013). In reality, the formation of commercial contract law becomes a process, and these elements do not appear following one after the other. The process starts with negotiations that sometimes take months to finalize. Parties agree to a point, and the next time they are forced to go back to the starting point. Despite the circumstances, there is always a general obligation to negotiate in good faith (Trakman and Sharma, 2014). In between the negotiations, some contracts may indicate instances of binding negotiations. Most of the cases involve written preliminary agreements. The exchange usually happens when parties intend to replace them with a written contract in the future (Mouzas and Furmston, 2008). However, the negotiations break before the completion of the anticipated formal written agreement. The complaining party alleges that there was a contract basing its argument on the exchanged preliminary agreement, while the other party dismisses the claim. The main problem is that there is no particular law for this exact matter. In (Beale, Bishop, and Furmston, 2008), the work states that such an issue requires the court to look at the wording of the preliminary agreement in question. The same applies to cases of unsigned preliminary agreements (Beale, Bishop, and Furmston, 2008). In either written or oral dispute, as to the preliminary negotiations, courts balance the contending interests of the parties. At the same time, courts avoid creating a contract for the disputing parties (Ravichandra, 2013). Nevertheless, the work of the court is to enforce the agreement if the wording suggests a binding agreement. In the search for the intent, courts employ different mechanisms. The first one is to examine the totality of the underlying circumstances. The primary approach is to use the available objective signs to find out whether the parties had agreed on the major terms. Here the courts look at the entire language (Prescott and Swartz, 2010). Places like New York have a multi-factor test for analyzing the available facts. Another method that the court may use is by examining what the parties did after the negotiations. Lastly, the court may interpret the disputed negotiations by examining the contested negotiations present tense rather than the future tense. Like explained above, there is no particular line for aligning such matters. Courts employ various rational mechanisms for a solution. One recent ruling is ( Hartslief v Terra Nova Royalty Corporation, 2013). Both the claimant and the defendant solicitors appeared to have come to a settlement of the claimants claim. However, the claimants employer argued that the joint intention of both parties was only to accept a binding agreement after a formal settlement. In addition, there were pending issues unsolved. The claim did not succeed as the court stated that the solicitors had the authority to create a binding agreement. The discussed case above seems to have borrowed the rationale in ( Bawitko Investments Ltd. v Kernels Popcorn Ltd, 1991). Although not the exact facts, this case appears to hold similar issue to the case of Lianne and Mary. Both cases are issues of preliminary oral agreement. What happened is that Bawitko was purchasing Kernels' Franchise. The defendant provided a contract that both parties agreed to amend. They shook hands and stated its a deal, and Bawitko paid $10,000 as deposit. When it came to signing the formal agreement, Bawitko was unreachable. At the deadline was when Bawitko responded requesting form an extension of the deadline. Kernels terminated the negotiations and refunded the deposit. Bawtiko brought an action for breach. The trial court ruled that the oral agreement was just a contemplation of the formal agreement and was not binding. The oral agreement was just a skeleton and did not hold all the terms of the agreement. The basic rule is that if the negotiations prove that the parties have agreed on essential provisions of the main agreement, the court can conclude that they have thereupon completed the requisites for their contract. Whether they would finalize the remaining parts of the main agreement does not change the binding rationale of the original terms. However, if parties intention has not been met, the negotiations remain unbinding. This rationale does not depend on whether the terms were certain or uncertain. The conclusion is that the quote was unbinding. First of all, a reasonable person would look at what happened after the quote. Lianne proposed a $9,500 as her price. This alone became a counter-offer. Diverting the minds further from the meeting, Mary set conditions of which Lianne had to accept or deny. What happened later, Lianne became unreachable. As in the case above, Lianne actions of becoming unreachable pending contemplation of terms equals Bawitko conducts as discussed above. The parties also went on to negotiate further with even Mary pulling out of the deal. A reasonable man would judge that there was no meeting of mind in these negotiations. As the rule of contract law, parties should complete all their obligations (Ashcroft and Ashcroft, 2011). Sometimes, however, it happens that they complete them but with some minor deviations. The doctrine of substantial performance exists to deal with such circumstances (Kubasek et al., 2016). When it happens that one partys work deviated complete performance, the court examines whether such fault was material to the contract, or it was just a minor error. If it was a substantial deviation that goes to the core of the contract, then the court suspends the contract and allows the innocent party to claim for damages (Miller and Cross, 2010). If the error were minor, the court would do approve the contract, but it will cut the amount that equals the remaining performance to reimburse the innocent party. The application of the doctrine of substantial performance was marked in (Hoenig v Isaacs, 1952). The defendant hired the claimant for a contract work 750 which was to be paid in two installments. Since the defendant was not satisfied with the performance, he declined to pay the second installment. The claimant sued to recover the payment. The court concluded that the claimant was entitled to full contract price excluding the cost of repairing the defects. By analyzing the case of Lianne and Mary, it is true that Mary provided as required by Lianne, only that the performance did not equal what Lianne expected. So this performance falls under the doctrine of substantial performance. With this, since the performance deviation does not go to the core of the contract, Lianne would pay Mary (9,500-X). X would be the amount that would have made the performance to equal the agreed expectations. Advertisement Regulations Advertising is one broad area incorporating various aspects of expertise. In (Hill-Smith, 2015), the field of advertising involves content creation, the media, the technology used, copyrights, and a collection of personal data among others. Because of the enlarged diversities within advertisement sector, numerous conducts attract regulatory and legal considerations (Parkinson and Parkinson, 2015). Courts or legislations help in overseeing these conducts as they advertisers interact with consumers. The fundamental rules of advertising require businesses to adhere to certain moral principles (Ullah and Hussain, 2017). Among them, the set rules expect advertisements, not to be offensive or even be in bad taste. They should be truthful, and they should not be deceptive or misguiding consumers (Cawley, Avery, and Eisenberg, 2013). The majority of the rules touch mostly on the consumer rights and privacy. In Australia for instance, all conducts within digital advertising field stay under the regulation of the self-regulated rules, the federal laws, and some state agencies. A brief look at the federal rules touches on Australian Consumer law (Competition and Consumer Act, 2010). In this statute, the law expects that businesses should only provide appropriate information in their advertisement. This one is a prohibition against deceptive or misleading actions. It also prevents the advertisers from imposing unfair business terms. Other federal rules come from the Australian Competition and Consumer Commission (ACCC). This one is an independent authority that oversees the implementation ACL. Furthermore, Australian businesses should adhere to the provisions of the (Spam Act, 2003). In brief, spam is an electronic junk mail,' unsolicited email. A customer can receive a spam either through email or as a message to a mobile phone. There is no particular description of the contents of the spam messages since they depend on various situations. They can be the promotion of a particular service or product. Spams can also be viruses, fraudulent actions or offensive materials. The Spam Act dictates that businesses or people who want to send junk emails should request for customers consent before sending the message. At the same time, they should introduce the business, and the message should have options for the customer to unsubscribe from future emails. Another fundamental legislation that businesses in Australia is the (Privacy Act, 1988). This statute requires businesses to exercise openness and transparency when dealing with customers information. The act defines personal information as written or unwritten information of an identified person be it true or false. This information can take any form without regard to written or unwritten. Examples of such information can be a persons name, address, signature telephone number, age, medical information, opinions, bank account details etc. In general, privacy acts cover openness and transparency in the management of peoples personal information (Behboudi and Hasanabad, 2014). For this part, the act requires that anyone handling peoples information to have a privacy policy. The act also advises the business to keep the customer information anonymous or use a pseudonym when collecting or displaying general information. Further, the rules stipulate how a business or another person can disclose other peoples information without compromising the quality of that information (Craig, 2013). The laws also state how businesses can secure information, but it insists on the rights of allowing the customer to access their information or correct it. Among these rules, the state also recognizes the existence of self-regulatory rules that aims to fill the gaps and supplement the statutes in places that prove hard for the law to reach. Other states have the same laws for the protection of the customers. For instance, America has an established body known as United States Federal Trade Commission (FTC) that deals with issues of advertisements (Rustad, 2013). In Grimes (2017) states that FTC works to keep a check on the cyberspace to prevent deceitful and unlawful media conducts management. The FTC is the main body that that enforces the regulations and statutes that involve online advertising. In addition, the state has other mechanism like the federal Lanham Act, and self-regulatory rules that supplement FTC. In the US, The FTC has the mandate to take public complaints. When a member of the public lodges a claim against a business, the body has the power to decide whether such practices amounted to either a deceptive or an unfair conduct (Grimes, 2017). If the determination finds that the allegations were true, the FTC can order the business to stop the unlawful conduct. Besides, the commission can choose to sue the company on behalf of the public (Grimes, 2017). FTC can also protect the consumers by ordering a company to stop a particular advertisement or a product from selling in the market. Where a product requires additional instruction for use or warning, FTC has the power to order the company to include such warnings on the product or the advertisement. One example is the rule that cigarettes should warn that smoking puts someone health in danger. Conclusion There is always need to comply with the law set for smooth operation of the business in each state. The failure to comply with the law attracts discussions with law enforcement bodies to investigate the business conducts. When these cases arise, a mandatory compliance with the required instructions and set time frame becomes a necessity. More than that, the even unimagined issue may arise during the investigation that may become hard for a business to handle at the time. Situations may also become harder which can even see the closure of the business. Reference List Ashcroft, J. and Ashcroft, J. (2011). Law for business. Mason, Ohio: South-Western Cengage Learning. Craig, B. (2013). Cyberlaw. 1st ed. Boston: Pearson. Beale, H., Bishop, W. and Furmston, M. (2008). Contract. 5th ed. Oxford: Oxford University Press. Rustad, M. (2013). Global Internet law in a nutshell. 2nd ed. West Academic. Kubasek, N., Browne, M., Dhooge, L., Herron, D. and Barkacs, L. (2016). Dynamic business law. 3rd ed. New York. NY: McGraw-Hill Education. Prescott, D. and Swartz, S. (2010). Joint ventures in the international arena. Chicago, Ill.: ABA Section of International Law. Miller, R. and Cross, F. (2010). The legal environment management. Mason, OH: South-Western Cengage Learning. Ravichandra, N. (2013). Business law. 1st ed: Prentice-Hall Of India. Parkinson, M. and Parkinson, M. (2015). Law for Advertising, Broadcasting, Journalism, and Public Relations: Law for Advertising, Broadcasting, Journalism, and Public Relations. 3rd ed. Routledge. Baird, M. and Clare, J. (2017). Removing the opportunity for contract cheating in business capstones: a crime prevention case study. International Journal for Educational Integrity, 13(1). DOI https://10.1007/s40979-017-0018-1 Ullah, N. and Hussain, M. (2017). Impact of Unethical Advertising, Misleading Information or Deceptive Advertising on Customer Purchasing Intention with Mediating Effect of Word of Mouth: Case of Pakistan. International Journal of Innovation and Economic Development, [online] 1(4), pp.49-69. https://ideas.repec.org/a/mgs/ijoied/v1y2015i4p49-69.html ChenWishart, M. (2013). In Defence of Consideration. Oxford University Commonwealth Law Journal, 13(1), pp.209-238. Doi: https://10.5235/14729342.13.1.209 Behboudi, M. and Hasanabad, H. (2014). Advertisements on the Internet. International Journal of Innovation in the Digital Economy, [online] 5(4), pp.1-21 Doi: https://10.4018/ijide.2014100101 Cawley, J., Avery, R. and Eisenberg, M. (2013). The Effect of Deceptive Advertising on Consumption of the Advertised Good and its Substitutes: The Case of Over-the-Counter Weight Loss Products. Mouzas, S. and Furmston, M. (2008). FROM CONTRACT TO UMBRELLA AGREEMENT. The Cambridge Law Journal, 67(01). DOI https://10.1017/S0008197308000081 Trakman, L. and Sharma, K. (2014). THE BINDING FORCE OF AGREEMENTS TO NEGOTIATE IN GOOD FAITH. The Cambridge Law Journal, 73(03), pp.598-628. Doi: https://10.1017/S000819731400083X Hartslief v Terra Nova Royalty Corporation, [2013] BCCA 417 Bawitko Investments Ltd. v Kernels Popcorn Ltd. [1991] 79 DLR (4th) 97

The Evaluation of Peoples Perception of Self

In the research conducted to determine the way in which people evaluate themselves, the two models represented two types of body constitution, a thin and a heavy one. By dressing the You_thin and You_curvy models in the same clothes and offering the participants to evaluate the looks of the models, as well as imagine what they would look in these clothes like, one could observe the change in people’s perception of their selves.Advertising We will write a custom research paper sample on The Evaluation of People’s Perception of Self specifically for you for only $16.05 $11/page Learn More According to the research hypothesis, the participants will supposedly evaluate the look of the You_curvy model lower, since they will project their selves on the models, which will result in envisioning their selves as a heavy and a thin person correspondingly (Maner et al., 2005). The research results partially supported the hypothesis. According to the re search findings, most of the participants rated the You_thin model positively, therefore, displaying their vision of self on the looks of the model. As the hypothesis assumed, the participants projected their selves on the models; therefore, their idea of beauty predisposed their judgment of the clothes. It is worth noting, however, that some of the participants still voted for the curvy/heavy model; in fact, the difference between the votes is not that big. However, since the majority voted the curvy/heavy model down, the assumption that their vision of self would drop when relating to a less attractive model (Darlow Lobel, 2011) has been proven. It is important to note that the survey presupposed answering three questions, i.e., evaluating the model, the clothes and the look of the participant in the given clothes. Therefore, it is necessary to add that, when considering the participants’ evaluation of the model attractiveness, the author of the research found out that the p in the given case was more than 0.5 (p0.5), which meant that the appeal of the clothes actually remained just as high. However, when considering the model’s attractiveness, most of the participants responded negatively, as well as answering the question concerning whether they would look good in the clothes. The given results show graphically that the participants’ image of self was not destroyed completely – they still found the model attractive; the clothes, however, lost their charm, proving absolutely useless to mask the â€Å"chubbiness† (Vos Strache, Strong Peterson, 2004). It is important to mention that the study was limited by the number of participants. It was practically impossible to embrace the entire variety of opinions. The ethics of the study, however, corresponds to the existing standards. Each case of participation was voluntary and unbiased.Advertising Looking for research paper on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Reference List Darlow, S. Lobel, D. (2011). Who is beholding my beauty? Thinness ideals, weight, and women’s responses to appearance evaluation. Sex Roles, 63(11/12), 833–843. Maner, Jon K. et al. (2005). Functional projection: How fundamental social motives can bias interpersonal perception. Journal of Personality and Functional Psychology, 88(1), 63–78. Vos Strache, C., Strong, A. Peterson, C. (2004). Te female physique: Model-guiding evaluation: 1. Women in Sport Physical Activity Journal, 13(2), 5. This research paper on The Evaluation of People’s Perception of Self was written and submitted by user Ace Levine 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.

Definite and Indefinite Articles (The, A and An)

Definite and Indefinite Articles (The, A and An) Definite and Indefinite Articles (The, A and An) If English isn’t your first language, knowing when to use an article before a noun can be confusing. It can also be tricky to know which article to use. To help explain, in this post we’re looking at the definite (i.e., â€Å"the†) and indefinite (i.e., â€Å"a† and â€Å"an†) articles. The Definite Article (The) As the name â€Å"definite† suggests, we use the definite article (â€Å"the†) when referring to a particular person or object. This could be because: There is only one of something (e.g., â€Å"the President of the U.S.A.†) We’re using a superlative (e.g., â€Å"the cutest puppy†) â€Å"The† is also useful when referring to something the reader or listener is already familiar with. This might be because we’ve already mentioned or implied what it is: I read a book last week, but the story wasnt great. In this example, we use â€Å"the† in the second part of the sentence because it clearly refers back to the book mentioned in the first part. Many books. But which one is the book?(Photo: BookBabe) Similarly, we can use â€Å"the† when the context makes it clear what we’re discussing. For instance, if we say we’re â€Å"going to the gym,† this obviously implies a specific gym (i.e., the local one), not just any of the many gyms that might be available. We also use â€Å"the† when referring abstractly to every example of something with a singular noun. For instance, while we could use the plural â€Å"cats† in the sentence: Cats are furry animals. We could also say the same thing using the singular noun â€Å"cat† if we add â€Å"the† in front: The cat is a furry animal. In this case, â€Å"the cat† refers to the species â€Å"cat† in general, not to a specific cat. Cats: delightfully furry.(Photo: Patrizia08) Indefinite Articles (A and An) Also aptly named, indefinite articles are used for referring to something when it is one of many possible examples or one of a generic type. In the example above, for instance, saying that we read â€Å"a book† shows that it was one of many possible books we could have read. Likewise, if we were to say we needed â€Å"a plumber,† we’d be asking for any plumber who is available, not one specific plumber. Or toilet magician, as we like to call them.(Photo: Wonderlane/flickr) Whether to use â€Å"a† or â€Å"an,† meanwhile, depends on the sound at the beginning of the next word: If it starts with a consonant sound, use â€Å"a† (e.g., â€Å"a puppy†). If it begins with a vowel sound, you should use â€Å"an† (e.g., â€Å"an egg†). This isn’t always a matter of spelling, since some words that start with a consonant begin with a vowel sound (e.g., â€Å"an hour†), and some words that start with a vowel actually begin with a consonant sound (e.g., â€Å"a universal truth†). No Article Required Finally, keep in mind that some nouns don’t require an article in some situations. This is known as the â€Å"zero article.† Common examples include: Mass nouns and plural nouns used abstractly (e.g., â€Å"Wine is delicious†) Most proper nouns (e.g., â€Å"David is writing a blogpost†) Some forms of transport or delivery (e.g., â€Å"It was sent by mail†) Most countries and languages (e.g., â€Å"I went to China†) The zero article can be confusing, since it depends on how a word is used. For instance, while we might say we saw something â€Å"on television† (no article) when referring to television as a medium, we’d say â€Å"turn on the television† if referring to the TV set in our living room. Whats on the television?Looks like a typewriter.(Photo: The Photographer/wikimedia) Likewise, place names can be tricky, since some require â€Å"the† (e.g., â€Å"the University of Chicago†) and others don’t (e.g., â€Å"Colombia University†). Ultimately, knowing when articles are required is a matter of practice. The important thing is, therefore, to check when you’re not sure (getting your work proofread is also a good idea).

Bend It Like Beckham Analysis Cultural Studies Essay

Bend It Like Beckham Analysis Cultural Studies Essay Since the 1950s Britain has gone through an intense period of accelerated social and cultural transitions. These changes come from the results of the disintegration of the British Empire, the expansion of the Commonwealth and the movement of people from various nationalities, languages and cultures. These phenomena have supported the progressive globalization of life and conceived a multi-ethnic and multicultural society, with a strong plurality of identities and heritages. One of the most driving motions for development through this phase has been the women’s movement. Their entry into the labour market and their increasing independence has brought fundamental changes in their position in society and their relations with men. Similarly, the emergence of youth as an identifiable group with a very different lifestyle to members of older generations, has contributed substantially to the changing social and cultural profile of the country. The younger generation has a more equal ity view of the role of women in society. The Hofstede analysis for Britain reports strong feelings towards individualism and masculinity. On the other hand, the power distance and uncertainty avoidance are ranked considerably low. Long-term orientation ranks the lowest. This study indicates potential change that Britain is willing to achieve rapidly with the new generations. Men and women mix freely, with independent relationships to one another. In the football club girls are all very open, they can get in touch with strangers very easily, undress without any shame. And Jess behaves on the contrary. The most vivid example of the British youth’s independence is the fact that parents can’t interfere in Jules’s private life, even when it deals with her sexual orientation. According to Hall’s scale of levels’ of cultures, British culture is a low level context culture because the messages are clear and the words carry most of the information in most communication (for example, when the coach sees that Jess has problems with her parents because of football, he goes there and tells them about his opinion, without any rituals, very directly). More interpersonal connections of shorter duration exist in Britain. Even choosing football in this movie seems to reflect the low level context British culture is experiencing. Football is one of the most rule and goal-oriented, strictly defined and team playing games (where each has its own job). According to Hall’s cultural theories, British culture seems to be the mix of the past-oriented and future-oriented cultures. Old generation is still trying not to lose traditions, they are still very conservative but the younger people are much more future-oriented, as it is very obvious from â€Å"Bend it like Beckham†. In conclusion, British culture is definitely an individualistic one, due to its high level of individual independence, goals and concept of individuality over group goals. Individuals have universal communication and equal attitude to everyone, in the family and in everyday life where men and women enjoy equal rights. It’s also a feminine culture with several specific features of male culture. British culture is a low level context one where people play by external rules, they have separation of time, space, activities, relationships; more interpersonal connections of shorter duration; almost everything is task-centered (decision and activities focus around what needs to be done, division of responsibilities) and so on.

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

Macroeconomics - Essay Example nd to alarmingly rise if the inflation rate hits 5 or 6 percent; consequently, when levels climb to double digit levels {as it did in the mid/late 1970s}, there was little surprise that Americans named inflation as the ‘public enemy number one’(Hellerstein). Recently, the U.S. has experienced low and stable rates of inflation {3.4% in 2005 and 3.2% in 2006} (Jensen); this has given rise to speculation among policy makers about achieving zero percent inflation. Yes, I recommend the central bank to aim for zero inflation. The main reason is that zero inflation is best suited to achieve what every international monetary policy strives for – maximum sustainable growth via the price stability conduit. This advice was put forward by Alan Greenspan, who had a distinguished career as Chairman of the Federal Reserve from 1987 to 2006 {he was succeeded in August 2006 by present Chairman Ben Bernanke}. Greenspan repeated this advice many times during his 18 year career under 4 U.S. Presidents, namely, â€Å"the fundamental aim of the Fed is maximum sustainable growth over time; the primary role of monetary policy in the pursuit of this goal is to foster price stability.† Economists deduced that Greenspan meant price stability will be achieved when economic growth is increased to the maximum ‘with a stable price level’ {meaning zero inflation}. Greenspan confirmed their deduction during the July 1996 FOMC meeting when he sa id a zero inflation level would no longer alter decision – making. The famous Greenspan principle â€Å"maximum sustainable economic growth is accomplished at zero inflation† was born (Rasche et al.). Price stability should always remain as the explicit key objective for Federal Reserve Monetary Policy. There are several reasons for this. Price stability encourages economic growth; it reduces interest rates, stabilizes financial markets and those economic sectors affected by interest rates; it creates an environment that permits money and the

Modern Latin America Assignment Example | Topics and Well Written Essays - 250 words

Modern Latin America - Assignment Example Poor performance of economic growth and the stagnant status of economy have forced many Latin American nations to refuse Free Trade Agreement of America even at the verge of losing some of the foreign –trade benefits from the United States. Research experts have documented the elements of colonial legacy in the history of Latin American nations. Latin American nations have shown their willingness to share a common past of colonialism, freedom struggle, racial discrimination, poverty, political instability and foreign interferences. Analysing the economic growth of Central American nations like Costa Rica one can comprehend that the implementation of Free Trade Agreement failed to enrich Costa Rica’s economic growth. Colonial legacies in Latin American nations tried to learn the negative side of Free Trade Agreement because America considers the FTA as a political instrument than economic affair. As Eduardo Dimas points out, â€Å"the more FTAs are signed and approved, the more difficult the economic unity of Latin America will be, and the greater will be the ability of the U.S. government to torpedo that unity† (Dimas). It is therefore significant that Latin American nations learn more about the Free Trade Agreement (FTA) of America because its refusal creates serious problems for the nation’s growth.