Ergonomics Essay example - 1097 Words

What is ergonomics? Ergonomics is the science of fitting the job to the worker. When there is a mismatch between the physical requirements of the job and the physical capacity of the worker, work-related musculoskeletal disorders can result. Workers who must repeat the same motion throughout their workday, work in an awkward position use a great deal of force to perform, repeatedly lift heavy objects or face a combination of these risk factors are most likely to develop work-related musculoskeletal disorders. In this report, I will outline the main factors in having a safe workstation. There are certain ways in which you may choose an ergonomically correct chair. Does the seat feel comfortable and fit your shape? When you sit in the†¦show more content†¦You may also want to choose a chair that swivels easily. Do you need armrests on your chair? If so, are the armrests broad, cushioned and comfortable? While sitting can you adjust the height of the armrests and can you move the armrests closer together or further apart? Keyboard in the ideal typing posture both static and dynamic muscle loads are minimized. This posture is achieved when the keyboard is below seated elbow height and the keyboard base is gently sloped away from the user so that the key tops are accessible to the hands in a neutral posture. In this position the arms, shoulders, neck and back can relax, especially during brief rest pauses. Also, in this slightly reclined sitting position the low back rests against the lumbar support of the chair, the elbow angle is opened to promote circulation to the lower arm and hand, the abdominal angle, and the palatial angle (behind the knees) are opened to promote blood circulation. The feet rest firmly upon the floor. Monitor Optical glass glare filters on computer monitors can reduce health and vision problems related to computer glare and help boost productivity in computer users, according to a new Cornell University study. After using a glass anti-glare filter, the percentage of problems related to tiredness, trouble focusing eyes, itching/watery eyes and dry eyes was half what they were before filter use. This was true for people, who use computer monitors allShow MoreRelated Workplace Ergonomics, Ergonomics Assessment, Ergonomics Training2868 Words   |  12 PagesWorkplace Ergonomics, Ergonomics Assessment, Ergonomics Training In the past, most businesses have strived for high production at low cost. This strategy resulted in the highest profit for a company. When in reality to many businesses, this was only a mirage. This was because the â€Å"lower cost† of the business usually resulted in a â€Å"higher cost† for the employees. This lower cost for businesses may have meant lower quality workplace items, lower salaries, less benefits, etc. These lower costs createdRead MoreOffice Ergonomics : A Field Of Ergonomics973 Words   |  4 Pagesmeasurements of the Turkish people (Kayis, 1988; Turgut et al., 2004). 2.1 ERGONOMICS AND BRANCHES Ergonomics permeates every aspect of human endeavor. As a result, various branches or concepts of Ergonomics have evolved and developed over the years. Some of the branches are: 2.1.1 Office Ergonomics Office Ergonomics is defines as the branch of ergonomics dealing specifically with the office environment. This field of ergonomic considers how key workplace elements such as workstations, computers,Read More Ergonomics Essay1522 Words   |  7 PagesErgonomics Ergonomics, as defined by the Board of Certification for Professional Ergonomists (BCPE), is a body of knowledge about human abilities, human limitations and human characteristics that are relevant to design. Ergonomic design is the application of this body of knowledge to the design of tools, machines, systems, tasks, jobs, and environments for safe, comfortable and effective human use. The term ergonomics is derived from the Greek word ergos meaning work and nomos meaningRead MoreOffice Ergonomics2514 Words   |  11 PagesOFFICE ERGONOMICS ERGONOMICS: Ergonomics is the science of designing the job, equipment, and workplace to fit the worker. Proper ergonomic design is necessary to prevent repetitive strain injuries, which can develop over time and can lead to long-term disability.[1] The International Ergonomics Association defines ergonomics as follows:[2] Ergonomics (or human factors) is the scientific discipline concerned with the understanding of interactions among humans and other elements of a system, andRead MoreWhat Is Office Ergonomics?1720 Words   |  7 PagesWhat is Office Ergonomics? Office jobs keep our human race connected and thriving. The advancement of technology has placed many of our nation’s workers in an office setting. How can we keep these valuable employees safe and healthy? This is where office ergonomics comes into play. Per Webster’s Dictionary, ergonomics is, â€Å"A science that deals with designing and arranging things so that people can use them easily and safely† (Webster’s Dictionary, n.d.). Office ergonomics is essentially the scienceRead MoreErgonomics : A Human Factor1658 Words   |  7 PagesErgonomics is a human factor with the application of scientific information concerning objects, systems and environment for human use. The field of ergonomics is an applied science that also studies the effects of fatigue and discomfort on the body and designs protective equipment to keep operators safe and efficient. Ergonomics focuses on people, the single largest and most valuable asset of any organization. Regardles s of appearances, people are different from one another. Ergonomics recognizesRead MorePoor Ergonomics And Its Psychological Effects On Workers Essay1637 Words   |  7 PagesPOOR ERGONOMICS AND ITS PSYCHOLOGICAL EFFECTS ON WORKERS WHAT IS ERGONOMICS Ergonomics, also known as human factors engineering, derived from two Greek words ‘ergon’ meaning work and ‘nomoi’ meaning natural laws. Specifically, ergonomics is the science of designing the job to fit the worker, rather than physically forcing the workers body to fit the job. This aims to make sure that tasks, equipment, information, and the environment fit each worker. The International Ergonomics AssociationRead MoreEssay on Benefits of Ergonomics in the Workplace1615 Words   |  7 Pages Office ergonomics as is the case with other disciplines in ergonomics all emerged in the 1940s during the world war (McCormick and Saunders 1993). Difficulties arouse from soldiers inability to handle technical equipment produced for the war due to physical incompatibility or lack of understanding of the equipment and when the advancements in technology was transferred to the civilian populous after the war, the same problems in human-machine system incompatibility were observed. This led to aRead MoreKey Ergonomic Hazards Involved With Tanger Outlets2441 Words   |  10 PagesGoal/Objective: The purpose of this paper is to identify key ergonomic hazards involved with Tanger Outlets Nike retail store in Gonzales, Louisiana. Then, with the material learned in class, provide a sufficient plan that will minimize or eliminate the hazards completely. Description of the Worksite: The Nike store in Tanger Outlets in Gonzales has been around since 2003 when they decided to expand their margins into Louisiana. The store is always hiring new employees so the work environment isRead MoreThe Ergonomic Keyboard And Mouse Prevent Carpal Tunnel Syndrome And Other Repetitive Stress Disorders888 Words   |  4 Pagesaware of the importance of the ergonomic keyboard and mouse to prevent carpal tunnel syndrome and other repetitive stress disorders. However, these are merely the tip of the iceberg when it comes to the health problems researchers have linked to prolonged sitting. High blood sugar The Washington Post reports that poor posture does contribute to a variety of spinal issues, such as neck strain and muscle tissue damage. However, studies show that even at an ergonomic station, the pancreas is negatively

Recent Changes in Monetary Policy in Pakistan Free Essays

{text:bookmark} {text:toc-mark-start} PAKISTAN ECONOMIC POLICY {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} DATED: *15TH* DECEMBER 2009 {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Submitted To: {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Sir Ashraf Janjua {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Submitted By: {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Nimra Anjum {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Rakana Payam {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} text:bookmark} {text:toc-mark-start} *Sheema H*asanat {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} ACKNOWLEDGEMENT {text:toc-mark-end} We would like to give our special thanks to our Pakistan Economic Policy teacher, Mr. Ashraf Janjua for giving us this opportunity to work and have an insight of the our country’s economy, also to let us interpret our learning in a real situation. We thank him for the assist ance through out this project. We will write a custom essay sample on Recent Changes in Monetary Policy in Pakistan or any similar topic only for you Order Now Table of Contents MONETARY POLICY Monetary policy is the regulation of volume of money supply, by the central bank in order to achieve relative price stability. If the economy is heating up then the Central bank can increase the bank rate or the reserve requirement. Whereas when there is recession, then the bank rate is reduced. Instruments for the Regulation of Money Supply Open market operations. Cash Reserve requirement Statutory Liquidity Ratio Credit Ceiling Open market operations: It is the buying and selling of government securities. If the M. S is high then the securities are sold so that people buy it and money goes to the SBP and if the M. S is low then you buy securities in this way Money supply increases. Cash Reserve Requirement: It is a requirement in which all the commercial bank have to keep a percentage of cash with the SBP. Currently, it is around 7%. Statutory Liquidity Ratio: It is a requirement in which each bank has to maintain a certain reserve requirement to strengthen their liquidity position. Credit Ceiling: It is the fixation of the upper limit; quotas are assigned to different banks. Components of Money text:bookmark} {text:toc-mark-start} Mo is the resource money and comprises of: {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Currency in circulation {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Bank’s Reserve with the SBP {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Other deposits with the SBP {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Cash in the tills of the Bank {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} M1= Currency in circulation + Demand deposits with scheduled banks + other deposits with SBP. text:toc-mark-end} {text:bookmark} {text:toc-mark-start} M2=M1 + time deposits with the scheduled banks. Technically, M2 is called Monetary Assets M1 is called Money Supply. {text:toc-mark-end} How is Money Created? {text:bookmark} {text:toc-mark-start} There are three sources of creating money: {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Net Credit creation by the central Bank (SBP): Credit extended during a period minus recoveries. {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} 1 and 2 are called net Bank credit. Credit is always on the Asset side of Banks. When this credit is used by issuing cheques end up with bank (either the same bank/or any other bank). These cheques are deposits, and are on the liability side of the banks. These deposits/liabilities become money/monetary Assets, and are equal to the credit created by the Banking System. {text:toc-mark-end} How Much Money can be Created? {text:bookmark} {text:toc-mark-start} The share of currency in circulation in Mo and, {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Level of cash in tills and commercial banks reserves with SBP as a % of Mo. text:toc-mark-end} {text:bookmark} {text:toc-mark-start} The higher the value of either of these amounts with respect to M2, the lower the Money Multiplier. {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} 1/c + r (1-c) {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} C= the ratio b/w CIC + other deposits with SBP and M2 {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} R= Cash assets of Scheduled banks: Ca sh in tills of commercial banks + reserves with SBP. {text:toc-mark-end} DOES MONETARY POLICY PLAY EFFECTIVE ROLE IN CONTROLLING INFLATION IN PAKISTAN? Introduction text:bookmark} {text:toc-mark-start} Inflation is politically costly for the government (Haque and {text:toc-mark-end} Salient Features of the Monetary Policy {draw:frame} {draw:frame} {draw:frame} Instruments of Monetary Policy {text:bookmark} {text:toc-mark-start} Cash Reserve Requirement {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} {draw:frame} {text:toc-mark-end} {text:bookmark} {text:toc-mark-start} Discount Rate {text:toc-mark-end} {draw:frame} INFLATION TREND IN PAKISTAN (2004-2009) According to the State Bank of Pakistan, the core inflation in the year (2005) was 8. per cent which has almost doubled since the last year (2004) in which the inflation rate was 3. 8 per cent. During this year the non-governmental borrowing increased by 30 per cent. The two main reasons for high inflation during this peri od were because of excessive government borrowings and the price of wheat. According to the State Bank of Pakistan, government estimated that the inflation rate in the next year would range between 7. 7 and 8. 3 per cent. During the year (2006) there was a decrease in the total inflation of the country (general and food) from 9. 3 to 7. 9 per cent and 12. 5 per cent to 6. per cent respectively. The government took several major steps to bring the inflation down during this year as well by tightening the monetary policy and augmenting the supply of essential commodities through liberalization of import regime. As a result the general inflation declined from 9. 3 per cent (2004-05) to 7. 9 per cent (2005-06) the non-governmental borrowing in the year 2006 became 23 per cent. During 2007 the core inflation reduced from 7. 5 per cent to 5. 9 per cent, due to tight monetary policy. According to the SBP the food inflation increased from 6. 9 per cent (2006) to 10. per cent (2007) because of supply side constraints in which the prices of some key food staples (including wheat, rice, vegetable, ghee etc,) were increased. Where as comparatively the non-food prices grew at a slower pace since last year and the general Inflation (CPI) declined from 7. 9 per cent to 7. 8 per cent. The inflationary trend in the food prices during the year (2008) increased to 17. 6 per cent as compared to the last year in which the food inflation was 10. 3 per cent, affecting people living standards of low and fixed income groups. The non-food inflation had the same increasing trend as in the year (2007), which was 6. per cent and during the year (2008) was 7. 9 per cent. Although the core inflation was reduced to 5. 9 per cent but during this year it went back to 8. 4 per cent because of the global increase in some commodity, higher utility tariff and by local supply and demand driven prices. Inflation during (2008) indicates that the prices of a few commodities (18) essential food items registered sharp increase particularly during the second half of the fiscal year (2008). Other significant contributors to (2008) upward inflationary trend included house rent, which is the index that measures the cost of construction in Pakistan, racing to 11. per cent by April (2008). The current fiscal year commenced with ease in headlines compared to the same month of previous fiscal year. The consumer price inflation annually was 11. 2 per cent during July (2009) as against 24. 3 per cent in July (2008) and 13. 1 per cent in the previous month. A major increase in the core inflation was witnessed in July (2009) of 17. 6 per cent as compared to July (2008) 8. 4 per cent. The food inflation increased by 6. 1 per cent during this fiscal year. The main reason for this high inflation was due to low export growth relative to import, high oil prices and inadequate foreign apital inflow. Conclusively, one can say that inflation adversely affects the overall economic growth, the financi al sector development and exploit the vulnerable poor segments of the population. Inflation also decreases the real income and induces uncertainty. Considering such undesirable impacts of inflation on the economy, there’s a consensus among the world leading central banks that the price stability is going to be the prime objective of monetary policy and the central banks are committed to lower the inflation in the economy. Hence the State bank of Pakistan should adopt inflation as their main focus of monetary policy, by targeting inflation explicitly or implicitly as and when required. EFFECTIVENESS OF MONETARY POLICY STATEMENT IN PAKISTAN Economic policies aim to increase the welfare of the general public and monetary policy supports this broad objective by focusing its efforts to promote price stability. Embedded in this objective is the belief that persistent inflation would compromise the long term economic prospects of the country. The objective of monetary policy in Pakistan, as laid down in the SBP Act of 1956, is to achieve the targets of inflation and growth set annually by the government. In pursuit of this mandate, SBP formulates the country’s monetary policy that is consistent with these announced targets. In my remarks today, I plan to provide perspective on: First, why central banks focus on price stability? Second, how the monetary policy transmission mechanisms work? Third, what are the principal features of Pakistan’s monetary policy framework? Fourth, selected thoughts on effectiveness of Pakistan’s monetary policy framework Finally, what measures are needed to improve the effectiveness of the monetary policy framework in Pakistan? These questions have been a subject of much debate lately, as monetary tightening – an inevitable policy response for regaining macroeconomic stability – has aroused anxiety but better public understanding of this question will help them to appreciate central bank’s monetary policy stance. Why Focus on Price Stability? Monetary Policy Transmission Mechanism The monetary transmission mechanism refers to a process through which monetary policy decisions affect the level of economic activity in the economy and the inflation rate. Understanding the transmission mechanism of monetary policy is crucial for appropriate design and efficient conduct of monetary policy. As monetary policy actions affect policy variables with a considerable lag and with high degree of variability and uncertainty, it is important to predict the possible impact and extent of monetary policy actions on the real variables. Thus, by its very nature, monetary policy tends to be forward-looking. It is also important to know which transmission channels are more effective in terms of transmitting changes in monetary policy actions to ultimate policy goals. Since various financial sector developments particularly regarding introduction of new financial products, technological changes, institutional strengthening, and expectations about future policy, etc can potentially change economic effects of the monetary policy measures, there is a need to regularly update, empirically test and reinterpret monetary policy transmission channels. The impact of monetary policy is perceived to transmit in to the real economic activity through five channels. †¢ The first channel and most widely studied and understood channel of monetary policy transmission relies on the link between changes in the short-term nominal interest rate (induced by changes in the policy rate) and the long-term real interest rate that ultimately affect components of aggregate demand such as consumption and investment in an economy. As such, it is the changes in the long-term real interest rates that have its impact on aggregate consumption, business investment and other components of aggregate demand. †¢ The second channel, known as the credit channel, involves changes in monetary policy that not only affects the ability of firms to borrow money (by affecting their net worth) but also affects the ability of banks to lend money. The strength of this channel depends on the degree to which the central bank has allowed banks to extend loans and the dependence of borrowers on bank loans. These factors are clearly influenced by the structure of the financial system and its regulation. †¢ The third channel of monetary policy transmission focuses on asset prices (other than the interest rate) such as the market value of securities (bonds and equities) and prices of real estate. A policy-induced change in the nominal interest rate affects the price of bonds and stocks that may change the market value of firms relative to the replacement cost of capital, affecting investment. Moreover, a change in the prices of securities entails a change in wealth which can affect the consumption of households. Fourth, a policy-induced change in the domestic interest rate also affects the exchange rate that in turn affects the foreign financial flows, net exports and thus aggregate demand. The strength of the exchange rate channel depends on the responsiveness of the exchange rate to monetary shocks, the degree of openness of the economy, sensitivity of foreign private inflows and n et exports to exchange rate variations, and the net worth of firms and thus their borrowing capacity if they have taken exposure to foreign currency. Moreover, exchange rate changes lead to changes in the domestic price of imported consumption goods and imported production inputs affecting inflation directly. †¢ Since expectations influence the inflation dynamics, there is a fifth channel that is based on the economic agents’ expectations of the future prospects of the economy and likely stance of the monetary policy. According to this ‘expectations channel’, most economic variables are determined in a forward-looking manner and are affected by the expected onetary policy actions. Thus, a consistent, credible, and transparent monetary policy can potentially affect the likely path of the economy by simply affecting expectations. Monetary Policy Framework in Pakistan Considering the economic and financial market structure in Pakistan, SBP has for sometime pursued a monetary targeting regime with broad money supply (M2) as a nominal anchor to achieve the objective of controlling inflation without any prejudic e to growth. The process of monetary policy formulation usually begins at the start of the fiscal year when SBP sets a target of M2 growth in line with government’s targets of inflation and growth (usually in the month of May) and an estimation of money demand in the economy. The basic idea is to keep the money supply close to its estimated demand level, as both a significant excess and a shortfall may lead to considerable deviations in actual outcomes of inflation and real GDP growth from their respective targets. Underlying this framework are two strong assumptions: first, there is a strong and reliable relationship between the goal variable (inflation or real GDP) and M2; and second, the SBP can control growth in M2. While containing the M2 growth close to its target level is the key consideration in the current monetary framework, the composition of the money supply does matter and at times requires policy actions even if these actions lead to a deviation in monetary growth from its target level. To understand this point, it is necessary to know the major components of money supply and their relative importance. Net foreign Assets (NFA) and Net Domestic Assets (NDA) of the banking system are the two major components of money supply. The NFA is the excess of foreign exchange inflows over outflows to the banking system, or in other terms it is a reflection of underlying trends in the country’s external Balance of Payment (BoP) position. It is estimated by the projected values of all major external transactions such trade, workers’ remittances; debt servicing, foreign investment, and debt flows etc. The NDA of the banking system, which primarily consists of credit to the government and the private sector, reflects changes in the fiscal and the real sectors of the economy, If is estimated as a residual of M2 and the NFA. Further break-up of NDA is estimated on the basis of projected credit needs of the government and the private sector. NOW coming to the importance of these components of the money supply, depletion in NFA is generally considered as an unhealthy development. Sharp NFA depletion reflects worsening BOP position and a pressure on exchange rate. In such a case, a higher NDA growth, though helps in expanding M2 to reach ifs target level, may further deteriorate external accounts, sharper depreciation of local currency, and higher depletion of country’s foreign exchange reserves. Although since FY07, only the indicative M2 growth target is being announced, SBP also takes into consideration the causative factors for monetary expansion while pursing this target. Considering the changes in monetary aggregates and other economic variables, the changes in monetary policy are signaled through adjustments in the policy discount rate (3-day repo rate). Further, the changes in the policy rate are complemented by appropriate liquidity management mainly through Open Market Operations (OMOs) and if required changes in the Cash Reserve Requirement (CRR) and Statutory Liquid Reserve requirement (SLR) are also made. † Significance of various channels that transmit the monetary policy shocks in Pakistan to the real economy has been analyzed by few economists. Ahmad et al. (2005) found that credit channel is the most ‘important conduit for transmitting monetary policy actions to the real economic activity. Evidence confirms transmission through the active asset price channel and exchange rate channel. According to this study, monetary policy shocks impact real output after a lag of 7 to 11 months. Tasneem and Waheed (2006), on the other hand, investigated whether different sectors of the economy respond differently to monetary shocks. The presence of sector wise differences in the monetary transmission mechanism has profound implications for macroeconomic management as the central bank then has to weigh the varying consequences of its actions on different sectors. Investigating the transmission of changes in interest rate to seven sub sectors of the economy, the authors found evidence supporting sector-specific variation in the real effects of monetary policy. They found that the interest rate shock on manufacturing, wholesale and retail trade, and finance and insurance sectors transmit after a lag of 6 to 12 months. On the other hand, monetary policy shocks have negligible impact on agriculture, mining and quarrying, construction and ownership of dwelling sectors. Generally, historical evidence does reflect that Pakistan has been a high inflation and high interest economy given its inherent structural weaknesses. The role and effectiveness of monetary policy appears more visible in the 2000s when financial sector reforms started bearing fruits in terms of a more market based money and foreign exchange markets. Entering the 21sf century, the loose monetary policy stance in the face of low inflation, low growth and low twin deficits, along with structural measures to open up the economy and alleviate some first round constraints, triggered the economy on a long-term growth trajectory of above 7 percent. Monetary policy stance was however altered as the inflationary pressures started to build up in 2005. At the end of the fiscal year, the economy, which had been showing sustained steady growth since FY01, registered a historically high level of growth (9 percent), average inflation rose sharply (9. percent) and the external current account balance turned into deficit (-1. 4 percent of GDP) Coinciding with these developments, the fiscal module started to show signs of stress as the fiscal balance was converted into a deficit and the stock of external debt and liabilities, which had been declining since FY00 after the Paris Club rescheduling, began increasing. These indicators largely capture t he high and growing aggregate demand in the economy on account of sustained increase in peoples’ income. With the emerging domestic and global price pressures, SBP tightened its monetary policy after a prolonged gap of a few years. The efforts to rein-in inflation, however, proved less effective due to a rebound in international commodity prices and a rise in domestic food prices later on. The rise in the international commodity prices, particularly oil, exacerbated the fight against inflation. The international oil prices (Arabian Light) rose from US$27. 1 at end 2004 to US$50. 9 at end 2006, whereas international food prices rose by 24, 24 and 21 percent during 2004, 2005 and 2006 respectively. Realizing the complications of monetary management and adverse global and domestic economic developments, the implementation of SBP monetary policy during FY06 varied significantly from the preceding fiscal years. In addition to the rise in the policy rate, the central bank focused on the short-end of the yield curve, draining excess liquidity from the interbank money market and pushing up short-tenor rates. Consequently, not only did the overnight rates remain close to the discount rate through most of the year, the volatility in these rates also declined. These tight monetary conditions along with the Government’s administrative measures to control food inflation helped in scaling down average inflation from 9. 3 percent in FY05 to 7. 9 percent in FY06, within the 8. 0 percent annual target. This was certainly an encouraging development, particularly as if was achieved without affecting economic growth as the real GDP growth remained strong at 6. 6 percent in FY06. Further Strengthening of Tight Monetary Policy For FY07, the government set an inflation target of 6. 5 percent. To achieve this, a further moderation in aggregate demand during FY07 was required as the core inflation witnessed a relatively smaller decline in FY06, indicating that demand-side inflationary pressures were strong. In this perspective, SBP further tightened its monetary policy in July 2006 raising the CRR and SLR for the scheduled banks; and its policy rate by 50 basis points (bps) to 9. 5 percent. Moreover, proactive liquidity management helped in transmitting the monetary tightening signals to key interest rates in the economy. For instance, the Karachi Inter Bank Offer Rate (KIBOR) of 6 months tenor increased from 9. 6 percent in June 2006 to 10. 02 percent at end-June 2007 and the banks’ weighted average lending and deposits rates (on outstanding amount) increased by 0. 93 percentage points and 1. 1 percentage points, respectively, during FY07. In retrospect, it appears evident that monetary tightening in FY07 did not put any adverse impact on economic growth, as not only was the real GDP growth target of 7. 0 percent for FY07 was met, the growth was quite broad based. At the same time, the impact of the monetary tightening was most evident in the continued deceleration in core inflation during FY07. One measure of core inflation, the non-food non-energy CPI, continued its downtrend from YoY high of 7. 8 percent in October 2005, to 6. 3 percent at end-FY06, and to 5. 1 percent by the end of FY07. However, much of the gains from the tight monetary policy on overall CPI inflation were offset by the unexpected rise in food inflation. On the downside, however, broad money supply (M2) grew by 19. 3 percent during FY07, exceeding the annual target by 5. percentage points. Slippages in money supply growth largely stemmed from an expansion in NFA due to the higher than expected foreign exchange inflows. Equally stressful was the impact of Government borrowings from the central bank during the course of the year. The pressure from the fiscal account was due to mismatch in its external budgetary inflows and expenditures. With the privatization inflows and th e receipts from a sovereign debt offering at end-FY07, the Government managed to end the year with retirement of central bank borrowings, on the margin. By end-FYO7, SBP holdings of government papers were still around Rs 452 billion, despite a net retirement of Rs 56. 0 billion during the year. Another major aberration in FY07 emanated from the high level of SBP refinancing extended, for both working capital and long-term investment, to exporters. Aside from monetary management complexities, these schemes have been distorting the incentive structure in the economy. FY08 and Beginning of FY09: More Challenging FY08 was an exceptionally difficult year. The domestic macroeconomic and political vulnerabilities coupled with a very challenging global environment caused slippages in macroeconomic targets by a wide margin. After a relatively long period of macroeconomic stability and prosperity, the global economy faced multifarious challenges: (i) hit by the sub prime mortgage crisis in U. S in 2007, the international financial markets had been in turmoil, the impact of which was felt across markets and continents; (ii) rising global commodity prices, with crude oil and food staples prices skyrocketing; and (iii) a gradual slide in the U. S dollar against major currencies. Combination of these events induced a degree of recessionary tendencies and inflationary pressures across developed and developing countries. Policy-makers were gripped with the dual challenge of slowdown in growth and unprecedented rising inflationary pressures. Central bankers faced a demanding task of weighing the trade-off between growth and price stability. With the exception of few developed countries, most central banks showed a strong bias towards addressing the risk of inflation and responded with tightening of monetary policies. On the domestic front, the external current account deficit and fiscal deficit widened considerably to unsustainable level (8. 4 and 7. 4 percent of GDP). The subsidy payments worth Rs 407 billion by Government, which account for almost half of the fiscal deficit, shielded domestic consumers from high international POL and commodity prices and distorted the natural demand adjustment mechanism. While the government passed on price increase to consumers, the rising international oil and other importable prices continued to take a toll on the economy. Rising demand has cost the country dearly in terms of foreign exchange spent on importing large volumes of these commodities. Rising fiscal deficit and lower than required financing flows resulted in exceptional recourse of the Government to the highly inflationary central bank borrowing for financing deficit. At the same time the surge in imports persisted. As a result, inflation accelerated and its expectations strengthened due to pass through of international oil prices to the domestic market, increases in the electricity tariff and the general sales tax, and rising exchange rate depreciation. These developments resulted in a further rise in headline as well as core inflation (20 percent weighted trimmed measure) to 25 percent and 21. 7 percent respectively in October 2008. Considering the size of macroeconomic imbalances and the emerging inflationary pressures, SBP remained committed to achieve price stability over the medium term and thus had to launch steeper monetary tightening to tame the demand pressures and restore macroeconomic stability in FY09. SBP thus increased the policy rate from 13. 5 to 15%. What Needs to be Done to Improve the Effectiveness of Monetary Policy? Apart from taking policy measures to address the emerging challenges, SBP also introduced structural changes in the process of monetary policy formulation and conduct to make the monetary policy formulation and implementation more transparent, efficient, and effective. Specifically, during the last couple of years, SBP focused on †¢ Institutionalizing the process of policy formulation and conduct †¢ Stepping up movement towards a more market based credit allocation mechanism Developing its analytical and operational capacity †¢ Improving its capabilities to assess future developments to act proactively and †¢ Improving upon the communication of policy stance to the general public. However, the following areas need attention and are keys or effective monetary management. 1. Effectiveness of monetary and fiscal co-ordination would be helpful. Section 9A and 9B of the SBP Act (amended in 1994) art iculates the institutional mechanism for economic policy making and co-ordination and defines the ground rules for both the process and the policy making. However, the track record of the Monetary and Fiscal Policies Co-ordination Board (MFPCB), established in February 1994 that requires quarterly meetings of the SBP and the government, has been less than satisfactory. Furthermore, the sequencing of economy-wide projections is done in isolation of the budget and monetary policy making process, and the budget making process has not respected the monetary compulsions. With rising spending and stagnating revenues, the budget assumes at the start of the year certain recourse to the central bank rather than treat it as mere ways and means advances. . For effective analysis of developments and policy making, timely and quality information is extremely important. However, due to weaknesses in the data collection and reporting mechanism of the various agencies of the country, information is not available with desired frequency and timeliness. Also there are concerns over the quality of data. Unlike many developed and developing countries, data on quarterly GDP, employment and wages, etc is not available in case of Pakistan. Moreover, the data on key macroeconomic variables (such as government expenditure and revenue, output of large-scale manufacturing, crop estimates, etc) is usually available with substantial lags. This constrains an in-depth analysis of the current economic situation and evolving trends, and hinders the ability of the SBP to develop a forward-looking policy stance. 3. Unlike many countries, both developed and developing, there is no prescribed limit on government borrowing from SBP defined in the SBP Act or the Fiscal Responsibility and Debt Limitation (FRDL) Act 2005. Besides being highly inflationary, government borrowing from SBP also complicates liquidity management. Borrowing from the central bank injects liquidity in the system through increased currency in circulation and deposits of the government with the banks. In both cases, the impact of tight monetary stance is diluted as this automatic creation of money increases money supply without any prior notice. Moreover, access to potentially unlimited borrowings from the SBP provides little incentives to the government to put the fiscal accounts in order. Therefore, the foremost task to improve the effectiveness of monetary policy is to prohibit the practice of government borrowings from the SBP. In this regard, appropriate provisions are required to cease or limit government recourse to central bank financing through amendments in the SBP Act and the FRDL Act 2005. 4. Another issue is to make a clear distinction between exchange rate management and monetary management. Currently, there is a general perception that the State Bank is bound to keep the exchange rate at some predefined level and any movement away from this level is then considered as an inefficiency of the SBP. There is a need to understand that for an open economy, it is impossible to pursue an independent monetary and exchange rate policy as well as allowing capital to move freely across the border. Since the SBP endeavors to achieve price stability through achieving monetary targets by changes in the policy rate, it is not possible to maintain exchange rates at some level with free capital mobility. This can only be achieved by putting complete restrictions on capital movements, which is not possible. SBP’s responsibility is to ensure an environment where foreign exchange flows are driven by economic fundamental and are not misguided by rent seeking speculation. 5. Finally, based on experience particularly gained during the last two months is to differentiate between liquidity management and monetary policy stance. Recently, when the banking system experienced extraordinary stress due to shallow liquidity in the system, rumor mongering heightened the general public anxiety over few banks’ sustainability. Consequently, the SBP had to intervene in the market by injecting ample liquidity through various measures. In some quarters, these changes were deemed as a change in the bank’s tight monetary policy stance. However, this was not the case and the bank had to clearly and repeatedly communicate that the existing stance is being continued. Later on, the bank further tightened its monetary policy. It must be understood that quite often, liquidity management can drive the market interest rates away from the direction desired under the monetary policy stance. However, this has to be temporary and ‘the interest rates are bound to move in the policy stance direction. To resolve this issue, the SBP is studying various options, including the introduction of a â€Å"Standing Deposit Facility† to keep the interbank rate within a corridor. In conclusion, it is imperative that above steps be taken urgently. Over the period, however, this needs to be complemented with much deeper structural reforms to synchronize and reform the medium term planning for the budget and monetary policy formulation process Several studies and technical assistance have provided extensive guidance in this area, but the lack of capacities and short term compulsions have often withheld such reforms. What is important is to recognize that a medium term development strategy, independently worked out, would help minimize one agency interest which has often been a source of co-ordination difficulties. It would also help the budget making process more rule based than the incrementally driven process to satisfy conflicting demands. THE RECENT DEVELOPMENTS IN MONETARY POLICY (2007-2009) The SBP has kept its tight monetary policy stance in the period July 01, 2008-April 20, 2009. The policy rate was adjusted upward in November 2008 to shave-off some aggregate demand from the economy and kept constant in January 2009. However, noticing visible signs of demand compression enabled the SBP to reduce 100 basis points on April 20, 2009. During July 01, 2008-April 18, 2009, money supply (M2) expanded by 1. 6 percent against the target of expansion of 8. 0 percent for the year and last year expansion of 8. 1 percent in the comparable period of last year. The reserve money witnessed contraction of 2. 2 percent in this period as against expansion of 10. 3 percent in the comparable period of last year. Net domestic assets (NDA) have increased by Rs. 307 billion as compared to increase of Rs. 627. 5billion in last year. However, it is showing an increase of 7. 6 percent in stock during this period, whereas, last year the growth in stock was 20. 4 percent in the comparable period. Net foreign assets (NFA) have recorded a contraction of Rs. 263. 9 billion against the contraction of Rs. 356. 4 billion in the comparable of last year [See Table-6]. {draw:frame} Government borrowing for budgetary support has recorded an increase of Rs. 240. 5 billion as compared to Rs. 336. 0 billion in the comparable period of the last year. The government has over performed against freezing the net borrowing from SBP at Rs. 57 billion in 2008-09 and the SBP financing has shown a net increase of Rs. 103. 3 billion and financing from scheduled banks witnessed a net increase of Rs. 137. 2 billion during July 01, 2008-April 18, 2009. Credit to private sector witnessed a net increase of Rs. 55. 4 billion during July 01, 2008-April 18, 2009 as compared to Rs. 359. 7 billion in the comparable period of last year. The stocks st ill went up by 9. 1 percent. SBP undertook aggressive monetary tightening during the period, further increasing the policy rate by 300 bps in two rounds. On a cumulative basis, this means a 550 bps increase during the last 18 months up to March 2009. However, the policy rate was decreased by 100 bps on April 20, 2009. These policy measures were in response to carryover of macroeconomic stresses of the preceding year and increase in real aggregate demand. Monetary tightening has worked in the right direction. Weighted average lending rate have witnessed slight decline from 15. 5 percent in October 2008 to 14. 8 percent in February 2009. Weighted average deposit rate on the other hand has increased from 6. 2 percent in October 2008 to 7. percent in February 2009 which implies narrowing of the spread amidst intensive deposit mobilization efforts on the part of the banks. The weighted average yields on 6 months T-bill has declined by almost 250 basis points to 11. 5 percent in March 2009 as against 14 percent in November and December 2008 [See Fig-2]. {draw:frame} Recent Discount Rate in Pakistan (2007-2009) During 2007-08, the SBP contin ued with tight monetary policy stance, thrice raising the discount rate and increased the Cash Reserve requirement (CRR) and Statutory Liquidity Requirement (SLR). In the light of continued inflationary buildup and increasing pressures in the foreign exchange market, the SBP announced a package of monetary measures on May 21, 2008 that included;(i) an increase of 150 bps in discount rate to 12 percent; (ii) an increase of 100 bps in CRR and SLR to 9 percent and 19 percent, respectively for banking institutions (iii) introduction of a margin requirement for the opening of letter of credit for imports (excluding food and oil) of 35percent, and (iv) establishment of a floor of 5percent on the rate of return on profit and loss sharing and saving accounts. The year 2008-09 is characterized by a reduction in CRR by 2 percent in two equal phases to help the liquidity issues of the banking system. Later on, the SBP announced a 200 bps hike in discount rate to 15 per cent on November 12, 2008 in response to persistent hike in core inflation and current account deficit in a last ditch effort to demand compression. Following a slight reversal in the mounting inflationary and demand pressures, the SBP announced a downward adjustment of policy rate by 100 bps on April 20, 2009. SBP’s tight monetary policy and rationalization of fiscal subsidies and expenditure controls are the key factors that contributed a reasonable progress towards macroeconomic stability. The private consumption grew by 5. 2 percent in real term during 2008-09 which implies that notwithstanding substantial reduction in the fiscal and current account deficits, demand pressures are still confronting monetary management. {draw:frame} How to cite Recent Changes in Monetary Policy in Pakistan, Papers

Australian Securities and Investment Commission

Question: Discuss about the Australian Securities and Investment Commission. Answer: Introduction: A prospectus is a formal document which is required and filled with the Australian securities and investment commission (ASIC). A prospectus has to be prepared by the company under which management status, background, financial aspects about the company would be provided so to enable the shareholder to take decision about whether to invest in the company or not. It is the requirement that prospectus must be lodged with both the ASX and Australian securities and investments commission (ASIC) . Australian securities exchange ltd (ASX ltd) is an Australian public company which operates primary stock exchange, the ASIC (also referred as Sydney stock exchange). A company has to follow a lawful process before its IPO. Firstly, the prospectus must comply with all the requirements of corporation act 2001. Secondly, it does not contain a deceptive statement, misleading, false or omit any material information. All this needs to be complied once lodged with ASIC. A due diligence committee (DDC) has been established to ensure the above requirements. The corporations act does not lay down all the matters that should be included in the prospectus. However matters to be included relating to company are liabilities and assets, financial condition, profit and loss, payments made to directors and advisors, the rights attaching to the securities,and terms and conditions of the offer. ASX provides a place where companies are able to raise capital and provide its shareholders a market over which they can trade freely (Kendalls, 2009). Trading companies (except foreign company) have to comply with the following listing requirements of ASX: There should be 500 holders having an amount of $2000 at least of the main securities, or 400 holders having $2000 at least of the main securities; here 25% can be hold by non related parties. The entity should have applied or has the permission for citing all the securities in main class of securities. The company must have been qualified either the profit test or the net tangible asset test if applicable. The issue price of the securities to be traded must be of minimum 20 cents in cash, and compliances of chapter 6 of ASXLR, which is securities obligations and rights. The ASX code of Kogan.com ltd is KGN, and its industry group as per GISC Industry group is retailing industry group. The current issue price of kogan.com on 23December, 2016 is 1.40 AUD (Australian dollar). The kogan.Com reveals in its prospectus that by 2017 financial year, its EBITDA (earnings before interest, tax, depreciation and amortization) has been forecasted as $6.9million. Currently kogan director Ruslan Kogan has no intention to pay dividend, rather his team is more interested in investing the earning in the company. The offer comprises of the priority offer, the broker firm offer, the institutional offer, the employee offer. There is no provision for general public and retail investors for trading shares. As per looking at the current scenario kogan.com as a retail industry is fastest growing company is Australia, hence as an investor it is a good decision to invest in the company. By this, the investor or shareholder can predict that there would be a good source of income generated to the shareholders in the form of dividend. Hence it can be expected in future that the company would one of the fastest retail industry, therefore it is a good decision to invest in the shares of the company. As per corporation act and ASX listing rules, it is the requirement for the company to pay dividend (interim, final, and bonus) as it is appropriate to the directors. And company should also fix the date, time and method of paying dividend. But while comparing this with current scenario the company is not fulfilling the basic requirement of paying dividend. In prospectus it was expected that the revenues, EBIDTA and net profit would be 4241.2 million, $6.9 million, and $0.8 million respectively and kogan.com would be selling 28 million shares approximately at a price of $1.80 each. Hence by comparing this with the current scenario it can be presumed that the share price is quite expensive. References: DLA1284, A guide to listing in Australia, accessed on 24 December, 2016, viewed on https://www.asx.com.au/documents/professionals/DLA1284_-_A_Guide_to_Listing_in_Australia.pdf ASX Limited, Listing requirements, accessed on 24 December,2016, viewed at https://www.asx.com.au/listings/listing-capital-raising/listing-requirements.htm ASX listing rules, Chapter 6, securities, accessed on 24December,2016, Viewed at https://www.asx.com.au/documents/rules/Chapter06.pdf Kendalls,B,.2009,Australian master accountants guide, McPhersons printing group, Australia Nolan,J,.1995,Australia business: the portable encyclopedia for doing business with Australia, World trade press, USA ASX Ltd, 2016, The Official list (listed companies), accessed at 24 December,2016, Viewed at https://www.asx.com.au/asx/research/listedCompanies.do?coName=K Powell,D,. 2016, accessed on 23 December, 2016, Viewed at https://www.startupsmart.com.au/advice/funding/five-takeaways-from-kogans-ipo-plans/

Epithelial Tissue Observations Essay Example

Epithelial Tissue Observations Essay Data Table 1 – Epithelial Tissue Observations TISSUE TYPE OBSERVATIONS Simple Squamoussingle layer, flattened cells Simple Cuboidalsingle layered, cube shaped cells Simple Columnar (stomach)single layered, elongated cells Simple Columnar (duodenum)long columns in â€Å"S† shapes Stratified Squamous (keratinized)many layers, top cells flattened Stratified Squamous (non-keratinized)flat long strands with nucleus Pseudostratified Ciliated Columnarcells together in a column structure, single layer, elongated cells Transitionalmany layers of cube shaped and elongated cells We will write a custom essay sample on Epithelial Tissue Observations specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Epithelial Tissue Observations specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Epithelial Tissue Observations specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Stratified Cuboidal (online)2-3 layers, cube shaped cells Stratified Columnar (online)top layer of elongated cells, lower layers of cubed shaped cells Questions A. Why is the study of histology important in the overall understanding of anatomy and physiology?Histology allows us to examine the structure and composition of all our tissues B. How are epithelial tissues named? They are categorized by the size and shapes of their cells C. Why are some epithelial tissues stratified? It’s because the stratified epithelial tissue is multilayered, as opposed to the monolayered simple epithelial tissue. D. Unlike squamous cells, cuboidal and columnar cells have large, open cytoplasm. Which functions of epithelial tissue are supported by having such big cells? The large round cells allow it to slide or move past each other. It also allows the tissue to stretch . Questions A. What is the primary function of connective tissue? It connects the epithelium to the rest of the body. It also provides structure (bone), stores energy (fat), and transports material (blood). B. What can the shape of the cells in a particular type of tissue tell about the function of that tissue? Epithelial tissue comes in different shapes and sizes, for example there is ciliated epithelial tissue, which has cilia that helps it move objects around. This kind of tissue can be found in the respiratory tract, where it sweeps to clean dust and germs trapped in mucus. Other epithelial tissues such as stratified squamous epithelial tissue is found in areas prone to abrasion because its structure is irregular and can prevent cuts and scrapes. C. What is matrix? Why do some tissues have more matrix than others? Matrix is the extracellular fibers and ground substance of a connective tissue. Some tissues have more matrix because the cells fibers are not as tightly packed. D. What do collagen fibers provide? Collagen is strong and flexible and resists force in one direction. It is stronger than steel when pulled. Ligaments and tendons are collagen fibers. E. Tendons, ligaments and cartilage have limited blood supply. Explain how this might affect the ability of these tissues to heal after an injury. If there is limited blood supply it means the nutrients and supplies to heal an injury in this area are not that readily available. 5. Repeat the above steps 2 through 4 for the smooth and cardiac muscle slides. Questions A. What kind of muscle would you find in your stomach? Smooth muscle tissue B. How is smooth muscle structure different from that of skeletal and cardiac muscle? Smooth muscle can contract on their own. Smooth muscle tissue has no striations. C. Why do we say that skeletal muscle is voluntary? Skeletal fiber muscle do not contract unless stimulated by nerves and the nervous system provides voluntary control over their activities. D. What  is unique about cardiac muscle? These muscles are involuntary striated muscle which are only found in the wall of the heart. This is specialized muscle that can contract, cardiac muscle, like other muscles, can contract, but it can also carry an action potential (i.e. conduct electricity) like the neurons that constitute nerves. Furthermore, some of the cells have the ability to generate an action potential, known as cardiac muscle automaticity. Questions A. What is the function of nervous tissue? Nervous tissue conducts electrical impulses. It also rapidly sense internal and external environment . they process information and control responses. B. Why are the cell bodies of neurons elongated into cell processes? Neurons are elongated because they need to transfer a signal from the periphery to the center. C. If all nerves respond to stimuli why cant your eyes hear sound and your ears see light? All that any nerve can do when simulated if fire off electrical impulses. It’s how the brain interprets the impulses that cause us to perceive light or sound. D. How is a nerve different from a neuron? Neurons are specialized for intercellular communication through changes in membrane potential and synaptic connections. Nerves refer to a structure made up of many neurons. Conclusions Explain the purpose of these exercises and why studying histology is important to your understanding of how the human body functions. The purpose of the exercise and studying histology is important to know because it gives us a better understanding of the branch of anatomy concerned with the study of the microscopic structures in our bodies.

Free Essays on The Illiad

The Iliad The Iliad by Homer is an epic poem that has several heroes. Heroism is the most important aspect of the characters’ lives, giving definition to their actions and their raison d’à ªtre. A hero is always of noble birth, strong, intelligent, and a great leader. Another way the reader can differentiate a hero from a mere mortal is by the help that he receives from the gods. The gods intervene on the side of a hero and give him whatever aid is necessary to achieve victory. One may believe that there is only one hero in the Iliad, Achilles. However, Hector is the true hero. By examining Hector, Odysseus, Diomedes, and Nestor, one can see that these characters surpass all others. A hero is usually of noble birth with one parent being of divine descent. However, Hector is an exception to this rule. It is believed that Hector is the 1st born son of King Priam and Queen Hecabe of Troy. Since Priam is a descendant of Zeus, this divine lineage is passed down to all his sons. Therefore, Prince Hector is considered to be of divine decent which allows him to be regarded as a hero. In Hector’s speech about his son Astynax, the reader gains invaluable insight into what it means to be a hero: Zeus, and you other gods, grant that this boy of mine may be, like me, pre-eminent in Troy; as strong and brave as I; a mighty king of Ilium. May people say, when he comes back from battle, â€Å"Here is a better man than his father.† Let him bring home the bloodstained armour of the enemy he has killed, and make his mother happy. To Hector the ideals of strength, intelligence and being magnanimous are important. It is important for a hero to display his strength and prowess, and thus kill many in battle. One can see the truth to this statement through the epithet â€Å"man-killing Hector.† Men are said to fear Hector because he kills many, especially when he storms the Greek wall. When Hector fights Patrocl... Free Essays on The Illiad Free Essays on The Illiad The Iliad The Iliad by Homer is an epic poem that has several heroes. Heroism is the most important aspect of the characters’ lives, giving definition to their actions and their raison d’à ªtre. A hero is always of noble birth, strong, intelligent, and a great leader. Another way the reader can differentiate a hero from a mere mortal is by the help that he receives from the gods. The gods intervene on the side of a hero and give him whatever aid is necessary to achieve victory. One may believe that there is only one hero in the Iliad, Achilles. However, Hector is the true hero. By examining Hector, Odysseus, Diomedes, and Nestor, one can see that these characters surpass all others. A hero is usually of noble birth with one parent being of divine descent. However, Hector is an exception to this rule. It is believed that Hector is the 1st born son of King Priam and Queen Hecabe of Troy. Since Priam is a descendant of Zeus, this divine lineage is passed down to all his sons. Therefore, Prince Hector is considered to be of divine decent which allows him to be regarded as a hero. In Hector’s speech about his son Astynax, the reader gains invaluable insight into what it means to be a hero: Zeus, and you other gods, grant that this boy of mine may be, like me, pre-eminent in Troy; as strong and brave as I; a mighty king of Ilium. May people say, when he comes back from battle, â€Å"Here is a better man than his father.† Let him bring home the bloodstained armour of the enemy he has killed, and make his mother happy. To Hector the ideals of strength, intelligence and being magnanimous are important. It is important for a hero to display his strength and prowess, and thus kill many in battle. One can see the truth to this statement through the epithet â€Å"man-killing Hector.† Men are said to fear Hector because he kills many, especially when he storms the Greek wall. When Hector fights Patrocl... Free Essays on The Illiad Homer’s The Iliad, Aristophanes Lysistrata, and Aeschylus The Seven Against Thebes, all dealt with issues concerning manhood in the Greek and Roman days, war also came but it was only because of the attitudes of these men. These three writers have different views when it came down to the topics of war and manhood, but they all view certain situations and issues similarly. The men in those days wouldn’t back down from any fight, they stood and fought, I would say they were barbaric; and because of this attitude war came naturally to them. These authors felt the same way about manhood; the men followed the principle of arete. Arete means that if a man were dealt a challenge he wouldn’t back down, he would fight, even to the death. The Iliad speaks about a few characters that were so overwhelmed with rage that nothing else mattered to them. Achilles has all the marks of a great warrior, and proves the mightiest man in the Achaean army. He is brave and is ready to accept any challenge, â€Å"Achilles put on his armor; he gashed his teeth, his eyes gleamed like fire, for his grief was greater than he could bear. Thus, then, full of fury against the Trojans, did he don the gift of the god.† (Pg 236) Hector was another such man who had followed this arete code, he says, â€Å"Three times have I fled round the mighty city of Priam, without daring to withstand you, but now let me either slay or be slain.† (Pg 265) This statement is an example of arete that all of the men had. It was a manly attit ude; they would rather be killed than to back away from a fight. Agamemnon is the king of Mycenae and commander-in-chief of the Achaean army. He’s not nearly as strong as Achilles but he has a similarly hot temper and prideful streak. He says, â€Å"Achilles, valiant though you be, you shall not thus outwit me. You shall not overreach and you shall not persuade me.† (Pg 3) He is so set in his ways and so prideful that even though...

Job Options With a Masters in Business Administration

Job Options With a Masters in Business Administration What Is an MBA Degree? A Masters in Business Administration, or an MBA as it is more commonly known, is an advanced business degree that can be earned by students who have already earned a bachelors degree in business or another field. The MBA degree is one of the most prestigious and sought after degrees in the world. Earning an MBA can lead to a higher salary, a position in management, and marketability in an ever-evolving job market. Increased Earnings With an MBA Many people enroll in a Masters in Business Administration program with the hope of earning more money after graduation. Although there is no guarantee that you will make more money, an MBA salary is likely higher. However, the exact amount you earn is very dependent on the job you do and the business school you graduate from. A recent study of MBA salaries from BusinessWeek found that the median base salary for MBA grads is $105,000. Harvard Business School graduates earn an average starting salary of $134,000 while graduates of second-tier schools, such as Arizona State (Carey) or Illinois-Urbana Champaign, earn an average starting salary of $72,000. Overall, cash compensation for MBAs is significant regardless of the school from which it is received. The BusinessWeek study stated that median cash compensation over a 20-year period, for all the schools in the study, was $2.5 million.  Read more about how much you can earn with an MBA. Popular Job Options for MBA Graduates After earning a Masters in Business Administration, most grads find work in the business field. They may accept jobs with large corporations, but just as often take jobs with small or mid-size companies and non-profit organizations. Other career options include consulting positions or entrepreneurship. Popular Job Titles Popular job titles for MBAs include but are not limited to: AccountantAdvertising ExecutiveBusiness ManagerCEOCIOCorporate Communications ManagerCorporate RecruiterExecutive RecruiterFinance Officer or Financial ManagerFinancial AnalystHotel or Motel ManagerHuman Resources Director or ManagerManagement AnalystManagement ConsultantMarketing Director or ManagerMarketing Research AnalystPR SpecialistProduct Manager Working in Management MBA degrees frequently lead to upper management positions. A new grad may not start out in such a position, but certainly has the opportunity to move up the career ladder faster than non-MBA counterparts. Companies That Hire MBAs Companies in every industry around the world seek out business and management professionals with an MBA education. Every business, from tiny start-ups to large Fortune 500 companies, needs someone with experience and the necessary education to support common business processes like accounting, finance, human resources, marketing, public relations, sales, and management. To learn more about where you can work after earning a Masters in Business Administration, check out this list of the 100 top MBA employers.

Examples of attributes Essay Example | Topics and Well Written Essays - 500 words

Examples of attributes - Essay Example rmacist aunt in Jordan and has been reinforced by my experiences during the period I volunteered to work in the Emergency Room of the Methodist Hospital, which opportunely happened to be just across the corridor from the Pharmacy. I grabbed any opportunity which presented itself to observe the pharmacists and their interaction with the patients and even went so far as to convince one of the pharmacists to let me ‘shadow’ her for a couple of days! Believe me, the more I saw, the more I liked what I saw of pharmacy! Belonging to a family of doctors and pharmacists does go a long way towards stimulating intellectual curiosity. My earliest memories of family life are filled with hazy recollections of animated discussions and even heated debates centered round medical ethics, drug research and exciting laboratory breakthroughs. Of course, as a child, I hardly grasped the issues involved and most of it was just lively chatter to me. However, the seeds were sown for my growing curiosity to learn more about these subjects which could evoke such passionate responses from my family. This intellectual stimulation has steered me towards the conviction that pharmacy is the path I want to pursue in life. My growing fascination with the world of drugs has been unequivocally reinforced over the years as I gained the relevant academic knowledge. I think that drugs are the miracle workers of medical science. I never cease to marvel at the fact that it is miniscule quantities of chemical substances that are actually responsible for the working of the human brain and contribute to everything from physiological well-being to states of mind! This a major part of the reason why I enjoy being a student instructor in Chemistry. Wanting to further explore this world, I decided to work at a National Home Care Institute as an Oasis. As a part of this service, I entered the nurses’ notes and records of medication into the computer and reviewed the accuracy of the medication and the

Traveled to Las vegas Essay Example | Topics and Well Written Essays - 250 words

Traveled to Las vegas - Essay Example It was really a good driving experience on a Chevrolet. The Fremont Street is a good night attraction for visitors with casinos and LED lights adding to the overall beauty of the area. On the third day of my trip, I went to The Fountains at Bellagio. One thing that I noticed at this place was the presence of a large number of people from different parts of world. It is a widely spread manmade lake with a lot of fountains that are so attractive that a person with a passion for photography cannot stop taking photographs until the whole picture storage limit of the camera ends. In addition, during night times, this place becomes even more beautiful when lights from high rise buildings cover the area like shining starts. On the last two days of my trip, I visited the Hoover Dam which is considered to be one of the seven industrial wonders of the world. I also took photos of the dam and the accompanying areas. Some more places that I really liked in Las Vegas included the Caesers Palace, Red Rock Canyon, and Mirage Volcanos. All of these places were very attractive and perfectly managed. Summing it up, I would say that my trip to Las Vegas was the most exciting and memorable travel experience of life which I will never forget in my whole

European advancements in warfare Essay Example for Free

European advancements in warfare Essay The Inter-war period between World War I and World War II was a time that governments relied on treaties and pacts to maintain peace rather than wage war. Some of these treaties and pacts did more to instigate war than to help deter it. Some examples of these are the Versailles Treaty, which basically all but dismantled the German military structure, another example is that of the Paris Peace Act of 1928, which was a voluntary renunciation of war as an instrument of national policy. Because treaties such as these, the reciprocal effect of any deviation caused tensions which eventually resulted in global conflict. What we will discuss in the following essay will cover weapon and doctrinal advancements, which were intended to return decisiveness, back to the business of waging war, with minimal losses of equipment and human life. During the inter-war period, militaries were primarily led by officers who were conservative in their approach to military structure and combat. One notable and very important aspect that became a topic of much debate during the period between WWI and WWII was that of armored and motorized warfare. Not only armored vehicles such as tanks but also motorized vehicles for logistical purposes as well. The conservative stance regarding these new weapons systems, which were introduced during WWI, was that they were to be utilized in a support role for the infantry and cavalry. This came at a time when most of the armies of the world were transitioning away from horse-drawn supply trains and tactical cavalry, due to the modernization of motorized military vehicles. Several leaders who opposed the conservatives on the role of armor and motorized warfare went on to become some of the most well known military writers ever. Two of these men were British General J.F.C. Fuller and British Captain B.H. Liddell Hart. Both of these British officers wrote and created doctrine that would be instrumental in the waging of armored warfare for not only WWII but also well into the twenty-first century. Instead of using tanks and tracked artillery for nothing more than infantry support they believed in, and created doctrine that placed an emphasis on fast moving offensive operations that would strike deep into the enemys territory, so fast as to render the enemies attempt to regain a structured  defense or counter attack futile. This ironically would be the template for the German blitzkrieg, which was implemented by Heinz Guderian after extensive research of Fuller and Liddell Harts doctrinal advancements. Although the British had well made tanks which could carry out this type of warfare, Guderian took this to another level with improvements to tank engines and armament and also the structuring of motorized divisions to carry out this new brand of warfare. It was believed by these men, that one tank could do what it would take a company of infantryman to do, and more! Advancements in the inter-war period were not only on ground fighting doctrine and weaponry, but also in the naval aspects as well. During the 1920s, the Washington Naval Treaty imposed strict guidelines upon the navies of the U.S., Japan, France and Italy. These guidelines kept ships to certain regulations that limited the size of guns and of the countries entire navy itself. What this did basically caused atrophy in naval progression. In the 1930s when Hitlers Germany openly disavowed compliance with the Versailles Treaty and began the re-galvanizing of its army and navy, it caused the nations which would become Germanys enemies to begin changing doctrine and methods in the conduct of naval operations. Also, the arrival of the aircraft carrier in almost every advanced navy created new threats with aircraft. The Japanese utilized aircraft carriers heavily in the war in the Pacific, as well did the United States. No two countries during WWII put so much emphasis on the carrier. What the carrier did was to allow aircraft to be launched from a ship far away into either enemy territory or enemy seas to attack either ships or targets on land without risking the loss of a naval ship. This was a naval doctrine created during the inter-war period. Air forces also went through extensive change during the inter-war period. First, the advancements of aircraft themselves in this period were perhaps the largest and most significant technological advancement of all. Airplanes had developed into short-range fighters, which could attack with speeds that were un-thought of in the era of bi-planes. Also, there was the advent of long range fighters to escort long-range bombers, which could hold large amounts of ordinance to drop on the enemys cities. Because of these  advancements, countries began racing to create the best aircraft that they could make. Each country would create superior aircraft in an effort to control the sky. The two countries that set the pace in this regard were Germany and Japan. Both enemies to Britain and the US, these two countries pushed the Allies to make formidable opposition and air defense systems. The period between WWI and WWII was a period of radical change to doctrine and weaponry. The creation of treaties and the League of Nations served as nothing more than a hopeful buffer to deter the waging of war. By creating these strict guidelines, the world did nothing more than antagonize one another to the point of global conflict. Advancements made during this period were a direct result of men who knew that peace could never truly be attained with peace.

D.H. Lawrences Sons and Lovers Essay -- Lawrence Sons and Lovers Essa

D. H. Lawrence is considered one of the Twentieth Century's greatest and most visionary English novelists. He was born in 1885 in Eastwood, a mining community in Nottinghamshire, England (DeMott iii). His father was an uneducated miner and his mother had been a schoolteacher before she married. According to England's rigid class system, his mother's marriage to his father was considered a step down, since she came from a well-educated middle-class family. Thus the vast differences between his parents was cause for "the fabric of his parents' marriage [to be] ripped by bitterness, violence and hate" (DeMott vii). Lawrence's first great novel, Sons and Lovers, is clearly autobiographical: "there's no denying the closeness of the resemblance between Paul Morel's life and that of his creator" (DeMott vii). The novel tells the story of Gertrude Morel, a mother whose possessive love for her sons hinders their ability to establish fulfilling relationships with other women. Lawrence himself had an unusually close attachment to his mother. The novel also depicts the working class of England at the turn of the century, when industrialism was rearing its ugly head and was creeping upon the English countryside. Set in a town similar to the one where he was born, Sons and Lovers gives a detailed and realistic portrayal of the hardships and conflicts of the Morels, a mining family. Gertrude Morel, the character based on Lawrence's mother, has married below her station; she is a religious woman who is serious and believes in hard work and adherence to a strict code of morals (3). She is unhappy and disillusioned with the lower-class mining-family lifestyle and is "sick of it, the struggle with ... ...ious that Lawrence preferred the agrarian England as opposed to the dehumanizing and mechanized modern world. Lawrence addresses "the human costs" of an industrialized society in Sons and Lovers and many of his other works, including his infamous Lady Chatterly's Lover (DeMott viii). Industrial British society has turned away from its agrarian roots and is destroying England, and the old way of life is seen as much more vibrant and complete. Lawrence, a genius in his own time, prophesied "that the West is on a disaster course and that all of us must change our lives" before we destroy the beauty of our world, and in the process destroy our own souls (DeMott viii). Works Cited DeMott, Benjamin. Introduction. Sons and Lovers. By D.H. Lawrence. New York: Penguin Books, 1985. Lawrence, D.H. Sons and Lovers. New York: Penguin Books, 1985.

Asceticism in Hasidic Thought as a response to the Sabbatean

Moodiness and the Hashish thinkers agreed to the concept of prohibiting a culture of unbridled licentiousness, reasoning that a life of excessive indulgence in the physical pleasures would not only serve to significantly detract from man's physical productiveness but would also derogate his spiritual qualities, adversely affecting his ability to understand and properly worship his God. Therefore, both placed considerable constraints on man's sexual life, ordinances extending far beyond the strict rabbinic decrees governing martial relations.Only with these guidelines in place did both Moodiness and the Hashish thinkers feel hat man could achieve the proper level of devotion to God and his Torah in the physical world, despite the seemingly ubiquitous pleasures of the flesh. However, while both Moodiness and the Hashish thinkers offer different principles for differing levels of religiosity, they do not follow the same guidelines for determining the requisite levels of devotion to God. Appropriately, both Moodiness and the Hashish thinkers divide their restrictions, positing two distinct levels of prescribed action: one for a higher spiritual man and another for a lower spiritual man. It appears that the level promulgated by Moodiness for his higher spiritual man is in practice parallel to that of the Hashish lower spiritual man. Thus, while both agree in principle to the utilization of ascetic means in an effort to increase one's religiosity, they diverge as to where the proper level of asceticism should be for their higher and lower spiritual men.What is to account for this difference in thought? I would like to posit that this change in thought came about, in part, due to the licentious sins of the Sabina movement and its inheritors. The ascetic lifestyle advocated by several Hashish leaders and thinkers, cumulating with Rabbi McCann of Burbles, may be viewed as a reactionary response to Sebastian movements, particularly Franking, and their well-known sexual mi sconduct. Moodiness Approach to Asceticism Moodiness presents a dual approach to asceticism's interaction with spiritual man's physical life.In his philosophical corpus More Invective, Moodiness writes: One should detach his thought from, and abolish his desire for bestial things†¦ The pleasures of eating, drinking, sexual intercourse and in general of the sense of touch†¦ We have it so far as we are animals like other beasts, and nothing that belongs o the notion of humanity pertains to it. 2 Further on in the More Invective he adds: (Eating, drinking, and copulation) should be reduced to the extent possible: one should do them in secret, should feel sorrowful because one does them†¦A man should be in control of all these impulses, (and) restrict his efforts in relation to them. 3 Here Moodiness describes a paradigm for the ascetic lifestyle. He endorses a pleasure-free existence, advocating for not only â€Å"control† and â€Å"restriction,† but for â €Å"sorrow' as well. Further, he stresses the inhumanity present within the annalistic shires of man, something which man should â€Å"detach his thought from, and abolish his desire for. † Yet, in his legal code Mishmash Torah, Moodiness adopts an entirely different perspective regarding man's involvement with and enjoyment of the physical pleasures.There he states: Possibly a person may say: Since envy, cupids, and ambition are evil qualities to cultivate and lead to a man's ruin, I will avoid them to the uttermost and seek their contraries. † A person following this principle, will not eat meat, or drink wine, or marry, or dwell in a descant home, or wear comely apparel, but will clothe himself in sackcloth and coarse wool like the idolaters priests. This too, is the wrong way, not to be followed†¦ Such have the sages said, â€Å"Do not the prohibitions of the Torah suffice you that you add other for yourself? And concerning this and similar excess Solomon exh orts us, â€Å"Be not over-righteous, nor excessively wise. Wherefore should you be desolate? 4 The passage from the Mishmash Torah contradicts the previously presented thoughts found in the More Invective. Moodiness writes not only about how one should participate in worldly pleasures, but also that whoever refrains from doing so is mimed a sinner. This suggests that an ideal exists to engage in the physical actions of the world, something which is reflected, no doubt, in the various Halation which demand pleasurable physical activity. Such an idea contrasts sharply with Moodiness's statement in the More Invective that man should feel â€Å"sorrowful† and perform the physical actions of eating and cohabitation â€Å"in secret. † In the next section of Mishmash Torah, Moodiness continues with this formulation, explaining exactly what one should sense when engaged in the physical activities of life: Man would direct his heart and all his actions only for the aim of kno wing God, and his sitting, arising, and speaking should all be considered in that light†¦When he eats, drinks, and cohabits, he should not intend to do these things only for the sake of pleasure, to the extent that he eats and drinks only that which is sweet to the taste, or engages in sex for the purpose of pleasure. Rather, he should eat and drink only for the purpose of making his body and limbs healthy†¦ He should not engage in intercourse when he desires it, but only when he knows that he must for reasons of lath emit seed, or for the purpose of propagation. 6 â€Å"Man,† Moodiness says, â€Å"Must direct his heart and all his actions only for the aim of knowing God. Thus, according to Moodiness, when man has both the proper intentions as well as the bodily need, there exists no reason to abstain from the physical activities. In fact, it seems that engagement in such acts, when done within the proper religious context, serve to enhance and increase one's relig iosity. Further, in the next section, Moodiness elevates this idea of physical permissibility, suggesting that man's actions, when fused with the proper intentions, re not only acceptable but even inherently good, as they are intrinsically forms of divine service.Here he states: Whoever throughout his life follows this course of will be continually serving God, even while engaged in business and even during cohabitation, because his purpose in all that he does will be to satisfy his needs so as to have a sound body with which to serve God. Even when he sleeps and seeks repose, to calm his mind and rest his body, so as not to fall sick and be incapacitated from serving God, his sleep is service of the Almighty.In this sense our sages charges s, â€Å"Let all your deeds be for the sake of God† And Solomon in his wisdom, said, â€Å"In all your ways know him†¦ â€Å"7 The statement â€Å"Even when he sleeps†¦ His sleep is service of the Almighty' stands in sharp con trast to the lowly position of religious value assigned to man's physical needs by Moodiness in his More Invective. In this section, not only are man's physical actions warranted and accepted as both natural and seemingly neutral facts of life, but rather they are also imbued with positive religious status.Man's actions, when practiced with the proper intentions and requisite control, serve not only as ids to one's strive for spiritual perfection, but even as genuine forms of serving God in and of themselves. For what reason does such a discrepancy between the thoughts of Moodiness in More Invective and Mishmash Torah exist? 8 Perhaps, the answer lies in the fundamental difference between More Invective and Mishmash Torah. Mishmash Torah was written for everyone; the intended audience includes both scholar and layman, and Moodiness therefore approached the topic of sexuality from the layman's perspective.To be sure, Moodiness did not warrant limitless sexual activity to any degree, yet he did grant man the right to sexual activity when an both desired it (I. E. Bodily needs) and his intentions were properly rooted in the service of God. In More Invective however, Moodiness's intended audience was of an entirely different nature. More Invective was written for the spiritually elite,9 the ones who engrossed themselves in the study of philosophy, what Moodiness himself termed â€Å"the zenith of all Torah study. 10 For these students of philosophy the level of asceticism presented in Mishmash Torah does not suffice. Indeed, they are held to a higher level of religious observance and hence must maintain a holier epistyle, one which includes more stringent ascetic practices than those required of the masses. Sebastian and Frankest Anti-Ascetic Practices Before discussing the particulars of the Sebastian and Frankest sexual practices, it is important to note that there are a number of corollaries between Sebastian and Hashish's.I would argue that these similarities were a factor in pushing the Hashish thinkers towards a more ascetic approach. To begin, both movements are ones of renewal while concurrently claiming to be movements of restoration. While undoubtedly new religious sects, each claim that they're teachings emanate for rotational Judaism. Second, Sabbaticals texts, which had not been central religious sources up to this era, take on a pivotal role in each movement. Third, both movements emerge not from the religious or intellectual elite, but rather from the plebian classes.This results in attitudes of skepticism and even contempt from the rabbinic authorities. Fourth, as popular movements, they are each shrouded in mystery, with neither program not platform in their nascent stages. Fifth, both movements share a doctrinal characteristic in their need for and reverence of a communal leader. This leader, a Attack for Hashish and Shabbiest Seven for the Sebastian (and later Jacob Frank and Eva Frank for the Franklins), is a key aspect in each movements thought, without whom the movement would collapse.Lastly, the two movements, particularly Franking and Hashish's, share geographic-temporal similarities, with the action centering on the area of Podia, Ukraine in the mid- eighteenth century. 11 Claims of sexual libertarianism and anti-ascetic behavior against Shabbiest Seven are well known. Surgeons Schools, in his magna opus on the Sebastian movement, describes Shabbiness strange, paradoxical ascetic behavior saying: When he became master over a large number of enthusiastic followers he loud indulge his fondness of alternating semiotic and semantic rituals†¦ E can easily imagine him clad in phylacteries, singing psalms and surrounded by women and wine. The picture fits the twilight atmosphere of Subtask's erotic mysticism. â€Å"12 Choler's depiction of Shabbiest leaves us with a clear image of a cult-leader, whose frequently vacillating whims and fancies were indulged at will. Indeed, Shabbiest is known to have been â€Å"a lewd person,†13 and several accounts speak of him confiscating betrothed and virgin women for short periods of time in what were allegedly platonic arrangements. When it comes to the Frankest movement, the claims of immorality grow ten-fold, making Shabbiest look like a celibate. Egregious sexual behavior was the norm, with instances of incest and other licentious acts commonplace. As described by Dad Rapport-Albert: There is evidence to suggest that the discipline of sexual abstinence was broken intermittently by orgiastic ceremonies conducted at precisely those times?the holiest days on the Jewish calendar?at which the Sebastian had traditionally engaged in antinomian activity.Ruches Frank, for example, is said to have summoned to his private chamber three nouns women whom he forced to carry out â€Å"shameful acts,† â€Å"abominations† and â€Å"wherefrom and other forbidden acts† on the Day of Atonement of 1800, and Jacob Frank himse lf was reported early in his career to have presided over a secret ceremony at which all the â€Å"brothers† and â€Å"sisters† were to Join him and his wife in a darkened room where partners were exchanged in a collective sex-act.The coexistence of sexual abstinence and profligate rites of illicit sexuality, which is by no means unusual in the history of sectarian religion, was a characteristic feature of Sebastian from the start†¦ 5 The Frankest approach to unbridled sexual ecstasy, whose rationale was based upon Sabbaticals scatological teachings of removing the yoke of Halvah in preparation for the redemption, found itself in these acts of extreme sexual perversion.Indeed, as Pale Emaciate describes, the Frankest truly believed that these acts were correct and sanctioned by God: Samuel of Buss states that â€Å"it is permissible to have children and to have sexual intercourse with someone else's wife or one's own sister, or even?though only in secret?with one 's own mother†¦ ‘ had carnal relations with the wife of my son†¦ And I believe that all this is permitted because God commanded us to do thus. Other testimonies described the breaking of the prohibition of incest, having sexual relations with menstruating women, masturbation (also in public) as well as the practice of sexual hospitality whereby a host offered his wife or daughter to a stranger coming as a guest to his house†¦ The women interrogated by the Station belt din reported that they slept with strangers â€Å"upon the wish of their husbands,† who â€Å"told them it was a positive commandment. â€Å"16 According to the above, Frankest Hashish Judaism Approach to AsceticismRegarding the interaction between man's sexuality and his strive for spirituality, Hashish literature does not leave us wanting. The Maggie of Mechanize spoke of converting oneself into an â€Å"main† or â€Å"state of nothingness† during the act of intercourse. In an obviously physical act it is quite telling that the Maggie calls for the absolute negation of one's physical self. Essentially, the Maggie states that sex, while both an important and necessary part of life, is not an act which should induce Joy or pleasure. 7 The Magic's foremost pupil Rabbi Eliminate of Lichens (1717-1786) rived this teaching from a verse in Genesis 4:1 which states: â€Å"And the man knew Eve his wife; and she conceived and bore Cain, and said: ‘I have gotten a man with the help of the LORD. '18 The question asked on this verse was why the Biblical author used the word ‘know for intercourse instead of a more descriptive word for the action. The answer given was that Adam did not act correctly during intercourse.Instead of directing all his thought to concentrate on God in heaven, he focused on his wife and her physicality, as well as his personal sexual enjoyment, thus â€Å"knowing† err. As David Bible explained, â€Å"Dam's sin was not sexuality itself but the desire and physical enjoyment that was aroused in him while having intercourse. â€Å"19 Perhaps then, this is speaking of not only the prerequisite negation of one's physical interaction and enjoyment, but also of the necessity to shun one's mental involvement with the act of intercourse.This idea is quite analogous to Moodiness's remarks in More Invective, namely that â€Å"one should detach his thought from, and abolish his desire for, bestial things. â€Å"20 Just as the Hashish thinkers discussed the actions and emotions associated with the act of intercourse, so too did they instruct regarding the proper times when the sexual act is permitted. Such an idea is found in the writing of Menace Mendel of Katz (1787-1859), who is considered to be one of the strongest advocates for asceticism among first generation Hashish's. 1 He writes in his work Meet Vehemence about how the biblical infraction of illicit sexual relations may be applied to unnecessary r elations with one's wife, even those outside of the prohibited Indian period. 22 Such a view essentially prohibits one to engage in elation's with his wife unless there exists a valid Halfback reason (such as the Matzoth of Noah or Pre Reeve) for doing so. This idea is quite similar to the guidelines which Moodiness prescribes for the spiritually elite in More Invective, 23 that one should â€Å"reduce to the extent possible†24 engagement in the physical pleasures of the world.Rabbi McCann of Burbles (1772-1810) took ascetic practice a step further than others, to a level which has no parallel in Moodiness's writings. Rabbi McCann is known for his famous claim of â€Å"for me men and woman are the name,†25 meaning that not only had he restrained his physical actions, but that he had also completely conquered his innate sexual drive. Yet, in the Hay Maharani, Rabbi McCann seems to vacillate between intense euphoria on his supposed overcoming of sexual desire and deep de pression at the realization that such a desire had yet again returned to tempt him. 6 Perhaps such a state of mind drove Rabbi McCann to the extreme edge of the ascetic spectrum. Rabbi McCann, in several of the works ascribed to him, describes the idea of sexual lusts as the root of all human sin and desire. Thus, it may be said that Rabbi McCann strives to not only curb his sexual passions and avoid all forms of illicit sexuality (such as lascivious thoughts), but also to uproot and eradicate the innate human sexual drive from his conscience. 7 Such an audacious endeavor was not intended for the masses; rather, it was reserved for the elite few, and quite possibly for Rabbi McCann alone, of whom it was said, â€Å"was keen on asserting that he, the true Addict,' had achieved the supreme indifference to sexuality that the earlier masters had only preached. â€Å"28 The idea of guarding oneself to the extent of not attaining pleasure in the act of intercourse may be found in the as cetic practices of Rabbi McCann.True, Rabbi McCann recognized the significance of the act of intercourse in its role as facilitator of the fulfillment of Halfback obligations, yet he did not find anything attractive or pleasurable in the act itself. Rather, for him the act took on a feeling of actual physical pain: Copulation is difficult for the true Addict. Not only does he have no desire for it at all, but he experiences real suffering which is like that which the infant undergoes when he is circumcised. This very same suffering, to an even greater degree, is felt by the Addict during intercourse. The infant has no awareness; thus his suffering is not so great.But the Addict, because he is aware of the pain, suffers more greatly than does the infant. 29 Rabbi Manama's concept of experiencing the pain of circumcision during the sexual act finds itself on the extreme outskirts of Hashish thought. While, as mentioned above, some advocate for a connection to God as opposed to one's p artner during intercourse, and some like Moodiness discuss denying oneself pleasure in the act itself, very few go so far as to assert that one should have negative, painful feelings during intercourse in an effort to facilitate a parietal, as opposed to a physical, nexus.Rabbi McCann however, stresses that only through the negation of physical pleasure could the Addict consecrate the act of intercourse; only with the physical pain of circumcision could the Addict raise the coarse annalistic nature of the sexual act to a sanctified performance, one which beholds divine partnership within the process of procreation. 30 Manama's call for a prerequisite asceticism to facilitate a proper spiritual cleaving to God places him far beyond anything previously advocated by normative or Hashish Judaism. Yet, RabbiMcCann clearly states that this is the level of the Addict, and not that of the ordinary man. Several authors quote him as saying that â€Å"every man can be worthy of achieving this level,31† and indeed on a theoretical plane this may be true. Practically though, Rabbi McCann never demanded this of his followers, rather reserving these ascetic ideals for the true Addict, the elite core of the Hashish community, someone like Rabbi McCann himself. Conclusion Sexuality poses a unique challenge to the religious man: how can one synthesize the pleasures of the flesh with his spiritual beliefs?The answer, according to Moodiness and several Hashish thinkers, is found in individuals acts of asceticism, actions which go beyond the raw restrictions and requirements of Halvah, deeds which serve to redeem the religious man from his bestial and perhaps even sinful instincts. While the need for such actions is agreed upon by both Moodiness and the Hashish thinkers, the extent to which they must permeate man's existence is a matter of controversy. Moodiness ‘s higher spiritual man is placed on par with the average spiritual man in Hashish thought, while the Hashi sh Addict, according to RabbiMcCann, takes upon himself ascetic measures far beyond those advocated for by Moodiness. As discussed above, I believe that this Hashish tendency towards asceticism came about, in part, due to its many shared factors with the Sebastian movement and desire to distance itself from the sexual immortality found among the Sebastian and Franklins. Whereas normative Maidenhead Judaism advanced two set forms of ascetic behavior, the Hashish movement saw it necessary to expand on these ascetic guidelines in an effort to distance itself from its wayward, licentious neighbors.