Practical Application Of Ethics Essay Example | Topics and Well Written Essays - 500 words

Practical Application Of Ethics - Essay Example In the utilitarian view, this may be beneficial for human in providing freedom. However, human freedom is not the substantial qualification for cloning as a practicing right because it prohibits human rights in production which are not restricted but has many options rather than it.Morality refers to codes of conduct put together and accepted by the society. These codes of conducts give conditions that would be adhered to by all rational persons. The concept of morality refers to the adherence to already existing codes of conduct in the society and applies to all human beings in the universe. Morality is inherent in the manner that it is a personal idea. It is a man-made concept that is defined by the society in which we live. It is also what a person regards as wrong or right. What a person decides as morally right or wrong is determined by person idea and principles. For example; Vegans hold a moral view that exploiting sentient animals for any purpose either food, clothing, entert ainment or scientific is immoral and archaic. Ethics is objective components of morals. Morality encompasses both moral and ethical concepts. If morality consisted exclusively of social system principles that are imposed then there would be no space for personal interpretation; this makes it ethical hence objective. Ethics and morality entail the principle of justice and sustainability which states that equals should be treated equally unless there is sufficient reason for unequal treatment to anyone.

Minimizing the risk of cold stress and thermoregulation in neonatal Essay

Minimizing the risk of cold stress and thermoregulation in neonatal children - Essay Example Any deviation from the normal values will influence the biochemical processes and will disturb the natural homeostasis presents within the cells of the human organism. The temperature of the body is divided in two parts: the temperature of the internal organs, known as the core temperature, and skin temperature. The temperature of the internal organs remains almost exactly constant, within a variation of 0.6 0C. Nevertheless, many healthy people whose temperature has been measured orally have shown a range of normal temperatures, varying from under 36 0C to over 37.5 0C. The average normal temperature of the internal organs is considered to be within the range of 36.6 to 37.5 0C if it's measured orally and 1 0C if it's measured rectally. Since the temperature regulatory systems of the body are not perfect, the body temperature varies in different situations, such as extreme exercise and extremes of temperature of surroundings. For example, during exercise, when excessive heat is produced, the temperature of the body can rise temporarily to as high as 38.5 to 40 0C. On the other hand, when the body is subjected to extreme cold, the temperature of t he body can often fall below 36 0C. The skin temperature, on the other hand, constantly varies, depending on the surroundings. This temperature is important when we take into account the ability of the skin to lose heat to the surroundings. As was stated before, the body's perfect functioning is dependent on maintain the balance, or homeostasis, in the organism. The control of body temperature is no different; in essence, it represents a balance between heat production of the body and heat loss. Logically, the rate of heat production that increases more than the loss of heat leads to elevated temperature of the body. If the loss of heat is greater, lowering of body temperature occurs. Heat production represents the principal by-product of metabolism. There are various factors that determine the rate of heat production, and these factors combined are named the metabolic rate of the body. According to Guyton and Hall (2000, p.822) the most important factors are the following: 1) Basal rate of metabolism of all the cells of the body 2) Extra rate of metabolism as a result of muscle contraction (this includes muscle contractions caused by shivering) 3) Extra metabolism caused by the effect of thyroxin (and to a smaller extend other hormones like growth hormone and testosterone) 4) Extra metabolism caused by the effect of epinephrine, norepinephrine and the sympathetic stimulation of the cells. 5) Extra metabolism caused by increased chemical activity in the cells, especially when the cell temperature increases. The main generators of heat in the body represent the internal organs, especially the liver, brain and heart, and in the skeletal muscles during exercise. From these organs the heat is transferred to the skin, where it is lost to the air and other surroundings. According to Guyton and Hall (2000, p.822) the rate at which the body heat is lost is determined by two factors: 1) How rapidly heat can be conducted from where it is produced in the body core to the skin 2) How rapidly heat can then be transferred from the skin to the surroundings. The insulator system of the body, that prevents the heat from

Plays of William Shakespeare Essay Example | Topics and Well Written Essays - 1000 words

Plays of William Shakespeare - Essay Example Everything in life had its place and every individual was expected to respect the social hierarchy. The Elizabethan age had its own unique rules about the social structures in the society and people were bound by the social rules. The main objectives of these rules were to ensure that the society followed a certain social values and that the class structured is maintained in the society. In his plays – Much Ado About Nothing, Macbeth, The Tempest, Richard III, and Othello Shakespeare certainly addresses the idea of an ordered society as well. In all the plays these characters both uphold and break down assumptions about the ordered world in Shakespeare’s time by conforming to the society’s values and at the same time breaking the social order. In Much Ado About Nothing, Beatrice is the slave of a pert tongue. She is extremely intellect, wild and strong. Unlike the other female characters in the play, she does not want to bow down to the patriarchal rule. In the p atriarchal society of the play, the women are governed by values of the society imposed by the men. Men in turn are governed by their expectations in their women. Male superiority and the subordination of women are seen throughout the play. This is mainly because of the fact that during that period men were considered to be superior in the society. The character of Beatrice does not conform to the typical characterization of the Elizabethan time, but it must also be kept in mind that this may be done to portray the strong characters in a farcical way. Beatrice is portrayed as a strong character who speaks her mind. Her pert tongue and her quick thinking can be seen when with her sharp reply to Benedick, â€Å"It is so indeed, he is no less than a stuffed man, but for the stuffing - well, we are all mortal" (Shakespeare). She often uses her wit and play with words to win an argument. This type of attitude and wit in a woman is rarely portrayed in Elizabethan era where women were tre ated as second class citizens. By portraying Beatrice as a witty, clever and strong character, Shakespeare breaks the social order of the women’s role in a society. In the play The Tempest, Shakespeare dissolves the society and embraces a new social order. In the play, Caliban is portrayed as the offspring’s of the devil and a witch, but at the same time he represents the creature of the earth. Throughout the play, he is referred many times as "natural man†, this is in sharp contrast to the Elizabethan social order. Like the character portrayal of Beatrice in â€Å"Much Ado about nothing† Caliban is given a place in a society which breaks the rigid social stratification. Caliban does not follow the social hierarchy by refusing to be under anyone’s control. Caliban acts on his own instincts and cannot be suppressed by Prospero as he loves his freedom. He made it very clear that he is the rightful owner of the Island, â€Å"I must eat my dinner. This island's mine, by Sycorax my mother, which thou tak'st from me. When thou cam'st first† (Shakespeare). This breaks down the social hierarchy as any land belongs to the king and cannot be claimed by people of lower status. But, then again, we also see the obvious social implications regarding the hierarchy, with the representations of Caliban’s character. In Shakespearean time, the social classification was rigid and he illustrates this rigid social structure throughout the play. He exemplifies how men of a certain

Heart of Darkness and Apocalypse Now Essay Example | Topics and Well Written Essays - 500 words

Heart of Darkness and Apocalypse Now - Essay Example Both the works tend to depict the way civilization finds itself alienated in the wilderness. In broad terms, the main similarity between the works is seen in the way the so-called civilized people have got an uncivilized primitive in them that comes out when they reach the wilderness even for a short period of time. For example, in the Heart of Darkness, Marlow first sees the shores of Africa with a sense of fear and dislike. As Marlow travels into the jungle, he develops the feeling that he was getting savage. Thus, as Kesselring states, one gets the idea that the man still possesses the primordial urge to be the same barbaric humans of the jungle; for example, Marlow describes a Kurtz who is free from any restraints, and who unleashes his primordial urge to kill and to enjoy total freedom. There Marlow sees a large number of heads displayed on posts that shows the kind of primitive life Kurtz lived (24-25). Here, it is worth trying to identify the reason behind the madness of both the Kurtz, and there comes the startling realization that it is the result of their inability to come into terms with the native culture and lifestyle. For example, in the movie, one can see a Kurtz telling Willard about the Special Forces going into the village inoculating the children for polio, followed by the visit of communists who cut children’s inoculated hands off. This basic and barbaric wilderness makes Kurtz insane, and soon, he becomes a savage himself. In total, one can say that in both the cases, there is the tendency to show that the European-African and American-Vietnam conflicts symbolize the conflict between the civilized and the savage. In both the cases, there is the realization that civilization is the result of the complex web of rules, regulations and codes of conduct that the modern societies have developed. In addition is the acceptance that there is a savage in every civilized human being. Thirdly, in

Financial Market Homework Essay Example | Topics and Well Written Essays - 750 words

Financial Market Homework - Essay Example Financial markets are usually divided into capital markets and money markets. The capital market involves exchange of long term finance (Robert, 2009). This includes stock market, which facilitates financing through issuing stocks and also exchange of stock ownership and the money market which facilitates debt financing and investment (Rose, 1994). Currently the financial sector has additional markets to facilitate financing such as commodity markets derivatives market, futures markets and foreign markets. Financial markets provide borrowers with funds to facilitate their investments (such as corporations and government institutions to obtain funds in order to finance their current operations or to finance expansion and growth) (Wurgler, 2000). It also provides the lenders a platform to channel their surplus funds in productive way (such as financial institutions that have excess funds to lend on short term and long term basis), facilitates credit creation (usually done by commercial banks through issuance of loans), provides liquidity to institutions and government organizations and promotes savings culture (the commercial banks provides financial savings services) In Qatar, the financial market is controlled by Qatar Investment Authority (QIA). This is the serves as the state’s sovereign wealth fund that specializes in both local and international investments. Usually QIA manages the financial surpluses from oil and natural gas companies (which run into millions of dollars) Additionally, Qatar Holding, a branch of QIA that is in charge of international investment, receives more than $30 billion from the state. These funds are invested internationally in Europe, Asia Pacific, and United states It is estimated that QIA has assets worth over $170 billion (Hall, Kerr & Hammond, 2013). This value is expected to increase as the country continues to invest in expansion

Rise in Standards of Living Essay Example for Free

Rise in Standards of Living Essay Australian business centers, stock markets, economic revenues and different economic sectors from the latter centuries have always been striving to improving the economy channeling as well the improvements of society’s standards of living; however, with the current progression of such trends, standards of living have gone so far ahead from the average people coping up to the demands of the prevailing society. Consequently, imbalance, strain and economic disproportion occur as the primary results of the high standards of living and the coping average public. b. Australia: Economic Overview . Due to the great transition of United States, Canadian and Australian economies from the agricultural-based setup of 19th and 20th centuries to an economy based on industries in the current 21st century, living standards have indeed increased. Consequently, the shift of living standards have greatly affected crucial economic and societal elements, such as (a) laborers, (b) supply-demand chains, (c) purchasing power of the market, (d) social class and standards of living, and (e) general economy equilibrium . High labor costs, high taxation fees, crowded population, strict-regulatory boards on business establishments and small domestic market have consequently become the adverse effects of Australia’s high standards of living . Last 2004, Australian standards of living was ranked third place by the United Nations surveillance report. Currently, Australian economy, according to the Reserve Bank of Australia (RBA), is experiencing GDP growth of 2. 7% quarterly as of 2008, GDP rate of approximately $1 trillion Australian dollar and GDP per capita of $33,000 as of 2006 statistics. Markedly, economic growth of Australia is slowly beginning its decline due to various economic components (e. g. high wage employment versus high standards of living, expensive supply versus average-earning market, etc. ) . Economic advancements may well influence the standards of living positively; however, high standards of living may negatively result to social tensions in areas of income balances . Australian economy is now experiencing a series of imbalances, especially in the relationships of market and suppliers, income generation and employment brought by high living standards. II. Discussion a. Living Standards of Australian Economy . Australians have always enjoyed the benefits of their country’s growing economy and high standard of living; however, continuous increase in the area of living stands may threaten the stability of their economy. Gross Domestic Product (GDP) rate obtained by a given economy commonly evaluates the country’s economic performance and growth. GDP assesses the level of supply-demand conditions, economic output capacity and welfare growth. GDP, together with household surveys on income – expenses, consumption-production and other associated components, measures the condition of economic welfare, which is viewed as an important indicator of standards of living . Currently, Australian GDP according to the Internal Monetary Fund has reached from the 2007 estimate of U. S. $ 718. 4 billion to U. S$ 1. 04 trillion nominally this year. In addition, annual GDP growth has always been maintained from 0. 4% to 1. 3% according to Australian Bureau of Statistics (ABS); although, nominal records this year show a huge drop on GDP growth from 1. 2% in 2006 down to 0. 5%, which can still progress downward (max: approximately 0. 25% GDP growth) due to seasonal variations. On the other hand, according to ABS, employment statistics have increased dramatically from 10. 5 million in 2007 to 10. 73 million employed in 2008, while decreasing as well the unemployment rate from 4. 3% in 2007 to 4. 2% this year . . . Economic trends of Australia are in no question boosting and improving more evidently compared to the United States. These statistics relevantly show the increasing economic welfare of the country, which eventually may further increase in the standards of living. In the study of Gregory (2007), following the increase of living standards in the 1970s evidenced by the approximate 30% increase in Australia’s employment wages is the latter drop (approximately 25%) on employment earnings and rapid rise of employment offering low compensations . Evidently, the similar impact is slowly but progressively occurring based on the statistical input of Australian employment, inflation and household surveys under ABC statistical surveillance . Based from statistics, full-time employment earnings have dropped from 2003 to 2005 record of 1. 8% to 0. 9% only last May, while private sector earning trend has changed from 2% in 2005 down to 1% this year and public sector declines from 1. 5% last 2005 to 0. 5% for this year. Nonetheless, employment-earning trends are currently recovering from its great downfall last May 2006 to early 2007. On the other hand, salary sacrifices of Australian surveyed households have also increased from U. S $580 weekly in 2005 to U. S. $644 weekly last 2006 due to increased taxes, increased in Consumer Price Index and most factors attributed to high standards of living (e. g. costs of supplies, increase costs of services, etc. ). With the increasing level of living standards, initial employment decline in response to high level of living standards is motivated by higher compensations. Continuing employment with higher compensation results to increase in employment rates, which consequently reduces level of average earnings of these employed. Meanwhile, as the rise of living standards continues, another important consideration is effect of inflation rates towards the purchasing power of the people living in the high standard Australian environment . According to the general inflation rate of Australian economy, rate has indeed increased from 0. 7 to 0. 8% in 2005 to 1. 5% last June 2008, which consequently results to an average of 4. 5% price increase on all groups of products and services. Based on ABS inflation breakdowns, products and services most commonly affected by high living standards are also affected by the high inflation rates, such the increase of deposit and loan facilities to 9. 5%, rise of rents to 2. 2%, increase in health care costs of 4%, house purchases by 3. 1% and one of Australian delicacies, spirits, which increased to 6. 1%. High standards of living implicated by economic growth and expansion of economic welfare do not always provide significant benefits for majority of the economy’s recipients. With this analysis, the most affected individuals are the average employees striving hard to cope-up with the increasing prices of commodities brought by the rise of living standards b. Impacts of High Standards of Living Considering the high living standards of the Australian economy, an average household earning an income increasing only to 0. 9% per quarterly may not be able to accommodate the inflation increased commodities and supplies, which, if applied to the general average population, dramatically implies huge reduction of purchasing power among the average members of society . Following the rise of society’s standards of living is the extensive rise of financial expenses among households due to the market value increases brought by increased standards of available supplies offered (e. g. education fees, food expenses, etc. ) . The impact of price variations and economic adjustments are assumingly experienced more prominently by the average people living the high standard society. As the basic commodities and services increase due to inflation rise, average people employed with an average job may commonly find their earnings sufficient for their daily requirements. However, if economic welfare continuously grows and expand, as shown by the increasing trends of GDP from International Monetary Fund statistics, these average-working groups, despite of their high compensations, may find their income insufficient to supply their needs and cope up with the increasing requirements of their society. Relationships between employment – working members of society – and the actual high standard society are more direct compared to other economic elements; since, these average people are the general population acting as the prime recipients of the economic change . As supported by the survey study of Gaston (2002), employment levels have progressed downward during the early 21st century; hence, economic growth has surged to cope up leading the restoration of employment level . However, the advent of employment surge brings forth increase in manpower supply enabling reduction in levels of manpower, while increasing manufacturing levels. In the end, economic growth shall continue to progress leaving the average working people coping with the increasing living standards of the Australian society   c. Implications and Potential Problems Associated . . . . . . . . . . . . . . . . . . . . . . . . . . If the economic trends on Australian employment continue in relation to the high living standards of the society, average working groups may fail to cope up reducing the markets purchasing power; thereby, affecting chains of economic elements, such as inflation rates, consumer price index, etc . If these economic elements change, imbalance in the economic growth might occur unless wage increase is implemented to cope with the increasing living standards. Economic investments and purchasing power of the available market are considered at-risked if these trends continue. Since reduction on the living standards is not a considerable option, the best resolution is to keep track on all the changes in these elements and implement balanced raise and reduction depending on the economic variations and adjustments   III. Conclusion Economic trends in a high standard living society must be well monitored and tracked due to the many risks associated to the variations, element adjustments and fluctuations. As economic elements, such as GDP, GDP growth and overall economic welfare, increase, living standards in a given society are also expected to increase. If this happens, the demographics most commonly affected are the average people earning only the average income. If economic trends, such as employment rates, compensation levels, inflation rates, etc. , are not carefully monitored, this can immediately result to an imbalance in both economic growth and the capacity of employed recipients to cope up with the high living standards being imposed by the society. Consequently, long-term results, such as increase in poverty levels, etc, may occur affecting dramatically as well the living standards of the area. IV. Bibliography Anderso, K. and Pomfret, R. â€Å"Living Standards during Transition to a Market Economy: The Kyrgyz Republic in 1993 and 1996,† Journal of Comparative Economics 28, no. 3 (2000): 502-523 Australian Bureau of Statistics (2008), Statistics, retrieved October 2, 2008 from: http://www. abs. gov. au/ausstats/[emailprotected] nsf/web+pages/statistics? opendocument Brown, C. American standards of living, 1918-1988: 1918-1988. New York, London: HarperCollins. 1994 2-3 Campbell, I. and Burgess, J. â€Å"Casual Employment in Australia and Temporary Employment in Europe: Developing a Cross-National Comparison,† Work, Employment and Society 15, (2001): 171-184 Easterlin, R. A. â€Å"The Worldwide Standard of Living Since 1800,† Journal of Economic Perspectives 14, no. 1 (2000): 7-26 . . . . . . . . . . . . . . . . . . . . . . . . . . Gaston, N. â€Å"The Impact of International Trade and Protection on Australian Manufacturing Employment,† Australian Economic Papers 37, no. 2 (2002): 119 – 136 . . . . . . . . . . . . . . . . . . . . . . . . . . Harding, A. â€Å"The Suffering Middle: Trends in Income Inequality in Australia, 1982 to 1993–94,† Australian Economic Review 30, no. 4 (2002): 341 358 Maglen, L. â€Å"Globalisation of the World Economy and Its Impact upon Employment and Training in Australia,† Australian Bulletin of Labour 20, no. 4 (1994): 298-319 McLean, I. W. , â€Å"Australian Economic Growth in Historical Perspective,† Economic Record 250, no. 80 (2004): 330-345 Mishra, R. , Kuhnle, S. , Gilbert, N. , and Chung, K. , Modernizing the Korean Welfare State: Towards the Productive Welfare Model. S. Korea, New York: Transaction Publishers. 2001 11 Nolan, J. , Hinkelman, E. G. and Shippey, K. C. Australia Business: The Portable Encyclopedia for Doing Business with Australia. New York, Australia: World Trade Press. 1996 8 Pusey, M. and Wilson, S. The Experience of Middle Australia: The Dark Side of Economic Reform. Cambridge, U. K: Cambridge University Press. 2003 8 R. G. Gregory, â€Å"Aspects of Australian and US Living Standards: The Disappointing Decades 1970–1990,†Economic Society of Australia 69, no. 1 (2007): 61-76 Simpson, M. , Dawkins, P. and Madden, G. â€Å"Casual Employment in Australia: Incidence and Determinants,† Australian Economic Papers 36, no. 68 (2008): 194-204 Sinn, E. The Last Half Century of Chinese Overseas. Hong Kong; Hong Kong University Press. 1998 356 Travers, P. and Richardson, S. â€Å"Living Decently,† Australian Economic Review 25, no. 3 (2008): 29-42

Bangladesh and Vietnam: Factors of Inflation

Bangladesh and Vietnam: Factors of Inflation Question 2(a) Discuss and analysis the factors of inflation in your selected countries Bangladesh and Vietnam are our selected countries. Inflation is a continuous increase in the general price level of goods and services in the economy. Inflation has three types which are creeping inflation, mild inflation and hyperinflation Bangladesh Inflation in Bangladesh has a lot of factors. There are wages in the major employment, increase in the supply of money, oil price, low production and higher price of imported commodities. Based on the factor for increase in wage rate in the major employment, wages in Bangladesh has been increasing for more than the last two decades due to both strong or moderately strong labor union. Due to political, social and cultural tradition and for a humanitarian reason, the Government cannot make a distinction between productive, unproductive, and moderately productive sector in their attempt to increase the wages. Wages increase without any production increase, easily transferred to higher cost of production and higher prices of consumer goods, allowing for sustained inflation. Under the assumption of little or no improvement of workers’ productivity growth, wage inflation at such high level is an indication of cost escalation over time. Money supply is an important determinat of inflation. Production in agriculture and fisheries sectors in Bangladesh is still subject to the whims of nature to a notable extent. Therefore supply of money in Bangladesh is increasing every year in order to get it. It has been claimed that one of the main causes of the high food inflation throughout the FY05 was poor harvest of aus, aman and wheat crops.6. The yearly production of these three crops went down by 18.12, 14.76 and 22.11 percent respectively in FY05 over the FY04.7. An instance of price hike due to this fall of production is that the price of aman rice rose within the range of BDT 16 to 19 in FY05 from the range of BDT 14 to 16 in FY04. This excessive rise in the total supply of money may contribute to the cause of high inflationary pressure in Bangladesh. Oil price is a factor of inflation in countries include international. Oil is a fundamental input of production, it constitutes a significant portion of production cost in every sector of the economy. Although there are some recent adjustments in the administered price of energy products, much of the increased cost of imported fuel has not been passed on to end users, especially on diesel and kerosene. Iraq has the second largest oil field. Oil production in Iraq has been cut by 5,00,000 barrels per day since the U.S. invasion in Iraq for more than three years. Crude and refined oil is used in all sphere of life including manufacturing and production of consumption and material goods. Once increased oil prices, it have increased the cost of production world-wide. The firms and suppliers have no other choices except to raise the price of goods and materials. Therefore it has caused a cost-push inflation. In Bangladesh the output growth rate is always lower than the population growth rate. This low productions is not only for reason of human resources, weather is also included. As an example, the production of wheat in Bangladesh has declined drastically over the years. Further, except for the Boro, the areas of rice cultivation have declined in recent years. The production of pulses and oilseeds has also declined significantly. Erratic weather in Bangladesh had caused crop failures. Therefore Bangladesh often faced with problem of food shortages. As the net domestic production of food is not sufficient to meet demand such as oil, supply gap of cereals and food items, Bangladesh forced to import these from external markets. Therefore the greater percentage of increase in the populaion has brought about a scarcity of goods. As a result, excess demand occurs that contributes to rise in prices. Bangladesh has to import huge capital goods, necessary consumer goods and even huge quantity of food grain. The most of the essential food items are imported like sugar, rice, wheat, onion and edible oil and also included machineries, intermediate goods and raw materials used in production. Huge import will increase the price of import. The inflation in foreign countries causes a rise in prices in Bangladesh through the importation of commodities from those countries. When the relationships between import price index and non-food inflation in urban and rural are insignificant, the former is found to have economically as well as statistically highly significant association with the categories of food inflation. In a short word, the reasons for increase in import price are twofold which is exchange rate depreciation and increase in international commodity prices. Vietnam Inflation in Vietnam has also a lot of factors. There are excessive service spending and bias allocation in the market, supply and demand mismatch, governement’s increased wages policy, boom of foreign direct investment (FDI) and unbalance money used for economic development and society. The monetary factor is excessive service spending and bias allocation in the market. Inflation can be caused if government doesn’t plan and manage amount of money circulation which include in society and commodity. As an example if government allocates too much money to society like education loan, there will caused a loss of money to contribute to eonomy. Excess cash will happen if the number of commodity production is sustaining and has not increased. It will increase consumer purchasing pressure and leads to hyperinflation. In Vietnam supply and demand mismatch is a problem or cause of inflation pressure in the country. The evident is the signs of overheating the economy such as severe electricity shortage and congested roads and ports, a tight labor market with skilled and semi-skilled labor supply falling far behind demand and a sharp widening of trade and current account deficit. But even year to year core inflation which excludes food and fuel is stimated to have increased by 18% as Benedict Bingham, senior representative of International Monetary Fund (IMF) predicted. Because of the output gap in Vietnam willn’t overcome easily, so he dominant effects of demand effects will persist to the next years. Within this context is important to underline, that persistent excess liquidity in the domestic markets can stoke inflationary expectations over time. In Vietnam, government has been provided an increased wages policy. Analysis of the movements of nominal wage rate inflation generally gives an idea about the labor cost scenario. In Vietnam, government encourages workers’ salary income can be increased if their performance is improved. Due to increase in salary income, workers have higher chance to spend more on consumption. Demand excess supply. If promotion of distributors and manufactures is helding, it will stimulate the market to increase buying power and creates leverage for a result of demand exceeds supply. After that inflation will happen. Booming of foreign direct investment (FDI) in Vietnam will have a high rate due to Vietnam often do FDI projects that can pull up their investors’ population. As an evidence, there were more than 16,300 active FDI projects in Vietnam that have collectively pulled in a total of $238 billion. These investors came from 100 countries and territories, and many of them are some of the world’s leading multinational corporations. In 2013, FDI inflow exceeded $22 billion, an increase of more than 35% from 2012. The figures indicate that Vietnam has become a destination of choice for foreign investors Vietnam often do FDI projects that can pull up their investors’ population. Therefore high influx of foreign exchange will often happens into the economy. It will increase money supply and if too high influx of foreign exchange, it will be a reason of inflation. Demand will also rise due to influx of foreign exchange. When a rise in demand cannot meet same level by import wil l push up the price of product until inflation. In Vietnam, unbalance money used for economic development and society will always be conducted. Because of wars against French-American in the past, government need to spend enormous money to restore the economy. Therefore money which used for economic development such as subsidiares to help suppliers is less and make a situation of demand exceed supply. The product prices will increase and It leads to the inflation. Therefore the government didn’t use monetary effectively means don’t lead consumers to a way nof controling the production and consumption of the society. Then, national budget will be reduced due to the lack of income or money. Government always lived beyond its means they must use government funds either from local or foreign country to compensate for the expenses. In conclusion, Bangladesh and Vietnam are easily face the situation of inflation based on those factors above. Who Should Own Indigenous Lands? Who Should Own Indigenous Lands? Christopher Wood F469950 Evaluate the claim that the governance of indigenous lands is best left to local communities. Due to the expansion of globalisation, concerns over the management of resources has grown from local issues to worldwide issues on how people should engage with the sustainable development and administration of global resource systems or commons. Common resources can be overseen and governed by a mixture of institutional arrangements that can be generally represented as governmental, private or communal. This essay will look at the merits of both private ownership of resources as endorsed by Ronald Coase and common property regimes often employed by communities, a solution advocated by the economist Elinor Ostrom, whilst using further evidence of these two competing ideas, by examining the plight of the indigenous group of people known as the Dongria Khondh in their battle against the powerful private multinational company Vedanta. One of the issues that arise with common resources, is the question of ownership and who has the right to manage and divide these resources, especially as the marketplace expands and the resources of the planet begin to be depleted (Shipman, 2015, p.119).   Ronald Coase investigated this problem of exhaustible resources and suggests a solution to protect resources by arguing that ownership of the commons by assigning property rights would by its action promote a positive outcome. The assignment of exclusive property rights and the potential for bargaining results in behaviour that is changed or altered to account for the negative impact our choices have on others, regardless of which party is initially assigned property rights. Private ownership and the resulting economic benefit for both parties encourages an equitable solution to rights, ensuring resources are used in a way that prevents overuse and preserves sustainability (Shipman, 2015, p125). A clear example of Coases ar guments can be seen by comparing a public communal space surrounding a residential area to that of the grounds surrounding a private residence where the owners have to pay a service charge to maintain the grounds. Public areas tend to be unkempt and abused, private grounds are generally better kept and preserved, this action suggests that individual ownership and financial incentive motivate an innate positive outcome (Shipman, 2015, p.130). Further evidence of the positive outcome of using property rights can be seen in the real-life case study of the collaboration between the Vietnamese government and the World Bank. The Land Administration Project, assigned land rights to citizens, enabling them to grow crops and feed their families, along with having the extra benefits of allowing family members to gain access to education and the owners to leverage this land to get finance, so they could expand and increase their wealth, this, in, turn, would encourage growth within the family unit, regionally and then nationally (The Open University, 2016a). However, assigning property rights doesnt always have a positive outcome, especially when the rights of the smaller landowners clash with the development of large real estate projects. In this case, the same Vietnamese government decided to seize inherited land from citizens, leading to violence and arrests. Free market economic policies of larger private concerns dominating the individual citizens claims and rights to land (The Open University, 2016b). An alternative to managing common resources can be found in the theories of  prominent economist Elinor Ostrom. Ostrom suggests that many issues surrounding  rights, ownership and depletion of resources, are better-taken care of by  cooperation, assigning rights to collectives and not individuals (Shipman, 2015, p.133). This is especially useful when dealing with resources such as the fish rich waters off Alanya in Turkey. Here the Fisherman became aware that unregulated fishing would lead to permanently exhausting stocks of fish. Using principles such as: Rules are well matched to local needs and conditions. Individuals affected by these rules can usually participate in modifying them. A system for self-monitoring members behaviour has been established. A graduated system of sanctions (against rule-breakers) is available. The fishermen devised a plan following these guidelines that provided a flexible arrangement for the community to gain rights and access to fishing stocks, whilst gathering approval from the government in the form of the Aquatic Resources Act, which recognised the communities right to administer their own rules. (Open University, 2016c) Despite this success, Ostrom recognises accomplishing a positive result in the management of common resource pools tends to have more success in smaller communities. Globalisation has presented problems concerning resources that need the varying parties to agree on a specified agency and a set of actions, which on this larger scale may prove to be difficult (The Open University, 2016d). A clear example highlighting the potential problems involving power imbalances between private commercial companies and local communities can be seen by examining the plight of the indigenous people Dongria Khondh and their battle with the mining company Vedanta. The dispute centred around the land surrounding the Lanjigarth region and holy mountain of Niyamgiri. This land held great spiritual importance and familial ties to the Dongria Khondh, being rich in biodiversity and holding a prime place within the local community. On the other hand, the mountain was also known to be rich in the mineral Bauxite, a valuable resource to a company such a Vedanta (Bhagwat, Jones and Mohan, 2015, p.150). Because of the inherent power imbalance between the two competing actors, it was necessary for outside agencies to become involved, to aid mediating in the dispute. These expert groups consisted of namely the Central Empowered Committee (CEC) along with the Ministry of Environment and Forests (MO EF), these two groups visited the area and gathered information from Vedanta and representatives of the local communities (Bhagwat, Jones and Mohan, 2015, p.151). Prior to this Vedanta had established mining facilities, assuming terra nullius or no mans land assuming that this land belonged to no one, the invisible cultural significance to the indigenous people wasnt recognised (Bhagwat, Jones and Mohan, 2015, p.151). Conflicts between homogeneous cultures and private entities are fraught with difficulties, especially in jurisprudential precedents. This issue of jurisprudence concerning governance presents complex problems, despite formal international rights as set out by the UN, there is very little political will to enforce them. Consequently, access to valuable resources where there isnt clear governance, can leave the productive potential of such lands greatly underused and can be a barrier to economic progress, whilst confusion reigns for the indigenous peoples perceived inher ent right to keep resources that are vital for their survival. Using the examples above it is clear to see that governance of common resources can have different outcomes depending on the scale and complexity of the situation. Personal and local situations can be governed quite simply by cooperation and economic incentives based on private property rights. On the other hand interactions between governmental institutions, international private companies and local communities has proven to be difficult. The most important lesson to draw attention to, is that advocating a particular course of action for solving problems relating to the governance of common resources may work in some settings but fail in others. Further, policies also have to be adaptable to recognise the informal cultural setting and arrangements of those who depend on these diverse ecosystems. Cooperation between individuals, communities and governments along with flexible arrangements between the different actors is vital to ensure equitable access to common resources. Word Count: 1201 References Bhangwat, S. Jones, N. and Mohan, G. (2015) Indigenous lands and territories: mapping the commons, in Drake, DH. Morris, A. Shipman, A. and Wheeler, K.(ed.) Investigating The Social World 2, Milton Keynes, The Open University. Shipman, A. (2015) Putting a price on common resources, in Drake, DH. Morris, A. Shipman, A. and Wheeler, K.(ed.) Investigating The Social World 2, Milton Keynes, The Open University. The Open University   (2016a). 5: Vietnam: Securing the Future through the Formalization of Land-Use Rights [Video] DD103 Investigating the social world. Available at: https://learn2.open.ac.uk/mod/oucontent/view.php?id=842096section=5 (Accessed: 2/17/2017) The Open University   (2016b). 5.3: Violence Erupts in Vietnam over Land Seizure [Video] DD103 Investigating the social world. Available at: https://learn2.open.ac.uk/mod/oucontent/view.php?id=842096section=5.3 (Accessed: 2/17/2017) The Open University   (2016c). 6.1: Fisheries in Alanya   DD103 Investigating the social world. Available at: https://learn2.open.ac.uk/mod/oucontent/view.php?id=842096section=6.1 (Accessed: 2/17/2017) The Open University   (2016d). 6.3: Ostrom: Could this Approach be Scaled up to Global Problems?   [Video] DD103 Investigating the social world. Available at: https://learn2.open.ac.uk/mod/oucontent/view.php?id=842096section=6.3 (Accessed: 2/17/2017)