Construction Economics Assignment Example | Topics and Well Written Essays - 2000 words - 2

Construction Economics - Assignment Example The economic policy of a government is generally reflected in its national budget (Jenkins 1978). Partly, it is through the budget that the government exercises its three principal methods of establishing control: the stabilization function, the allocative function and the distributive function. In some cases, economic policies are usually influenced by international institutions such as the World Bank or International Monetary Fund as well as policies of political parties and their beliefs. The business environment within which most housing and construction companies operate has continued to change rapidly throughout the world. Construction companies that fail to adapt or respond to these changes have problems in their survival. Therefore, contractors must be capable of improving their performances continuously in order to out smart their competitors. In nature, the construction company is complex because it consists of a large number of parties as contractors, stakeholders, clients, consultants and regulators. However, despite its complexity, it plays a great role in the achievement and development of the goals of a society. Economic growth refers to the rise of per capita gross domestic product (GDP) or other measures of total income. It is usually represented in annual basis as the rate of change in real GDP. The economic growth of a country depends on the ability of that country to improve its productivity, that is, its ability to produce more goods and services using similar inputs of labor, materials, energy and capital. According to most economists, there are two types of economic growths: the long-term economic growth and short-term economic stabilization. However, economic growth is usually concerned with the long-term type. The short-term type is rather deemed as the business cycle. The leading indicator of the state of economy in a given country is the housing and

Micro economics extra credit Coursework Example | Topics and Well Written Essays - 750 words

Micro economics extra credit - Coursework Example There are various concepts that explain microeconomics in the case of Mr Shea, who faced an eviction notice after renting his terrace to a visitor who turned out to be a private investigator (OTTERMAN page 1-2). Consumer protection This concept refers to the assurance of quality and safety in the products the consumers purchase and consume. Trusting the producers makes the economy flourish. In the case of Mr Shea, he provides room for visitors at cheap prices and there is no assurance of protection and safety (OTTERMAN page 1-2). When one of the visitors arrives , Mr Shea smuggles the visitors’ language using a laundry cart to avoid attention from the neighbors or the co-op board (OTTERMAN page 1-2). He goes to the extent of asking the visitor to identify himself as a friend to Mr Shea in case anyone asked. The internet communication from the visitors to private hosts is not an assurance of safety since some of the hosts may take advantage of the situation to make money out of the visitors (OTTERMAN page 1-2) Demand Demand refers to the extent at which a good or service is needed in the market. Demand not only refers to the quantity but also to the demand curve of a product. This traces the degree at which a good or service is demanded at different prices. ... This was to ensure to the quality of the rooms thus attract many visitors (OTTERMAN page 1-2). Profits Profits refer to the earning of returns by the capitalists through their efforts in the provision of their inputs. The capitalists are willing to go through denial of self gratification to invest some of their resources in fruitful activities (OTTERMAN page 1-2). Profits occur as a result of taking risks by different investors. The investments yield profits while others don’t. David Shea and the co-op board of affordable development rent out terrace to earn profits (OTTERMAN page 1-2). Mr Shea estimated a reasonable number of fifty visitors between 2011 and 2012 making an income of $6,000 which served as his profits because there was no taxation. Mr Shea goes against the rules of the co-op board which prohibits sub renting for profits even though David Shea says he was unaware of the rule (OTTERMAN page 1-2). Receiving anything of value from the invitee, occupant or the guest in exchange of habitation, whether it is permanent or temporary is not curable since it is fraud and profiteering. . Hosts present for the visitors added up to fifteen thousand thus losing millions in the hotel occupancy taxes (OTTERMAN page 1-2). Producers A producer refers to a person creating and supplying goods or services to potential consumers (OTTERMAN page 1-2). The producers combine the labor and capital which are factors of production. When a producer offers their services to the consumers, they get a reward, in this case a profit. Mr Shea offers services to his guests through the renting of terrace to guests at affordable prices (OTTERMAN page 1-2). The idea of renting came about when a therapist suggested to David

Childhood Maltreatment and Diabetes Relationship

Childhood Maltreatment and Diabetes Relationship Study Rationale The primary goal of this study is to conduct an empirical investigation of the association between an early life stressor such as childhood maltreatment and subsequent diagnosis of Type II diabetes in adulthood. This study will specifically explore if a relationship exists between the type and severity of childhood maltreatment encountered and participants diabetes-related quality of life. To provide a context for the current study, background literature focusing on two dimensions that have received considerable attention in the psychological literature is first thoroughly reviewed: definition and effects of childhood maltreatment and the biopsychosocial aspect of Type II diabetes. The current studys purpose, hypotheses, method, and data analytic strategy will then be proposed. Background Information Childhood Maltreatment Childhood maltreatment refers to, any act or series of acts of commission or omission by a parent or other caregiver that results in harm, potential for harm, or threat of harm to a child (Centers for Disease Control [CDC], n.d., para. 1). In their report, Child Maltreatment Surveillance, Leeb, Paulozzo, Melanson, Simon, Arias (2007) defined acts of commission as deliberate and intentional use of words or actions that cause harm, potential harm, or threat of harm to a child. Examples of acts of commission include physical, sexual, and/or psychological abuse. Acts of omission, on the other hand, are the failure to provide for a childs basic physical, emotional, or educational needs or to protect a child from harm (Leeb et al., 2007). Thus, acts of omission include physical, emotional, medical, or educational neglect, the failure to supervise or insufficient supervision, and/or exposure to a violent environment. According to the most recent publication by the U.S. Department of Health and Human Services (USDHHS) on childhood maltreatment, an estimated 905,000 children were determined to be victims of abuse or neglect (USDHHS, 2006). Specifically, 64.2 percent of child victims experienced neglect, 16.0 percent were physically abused, 8.8 percent were sexually abused, and 6.6 percent were emotionally or psychologically maltreated. The report suggests that rates of victimization by maltreatment type have fluctuated only slightly during the past several years. The long-term consequences of child maltreatment are significant and include the risk of alterations of brain structure and function, sexual risk taking behaviors, eating disorders, suicidal intent and behavior, lower self-esteem, adjustment problems, internalizing problems (i.e. anxiety and depressive disorders), externalizing problems (i.e. personality disorders and substance abuse), adult trauma, continuation of intergenerational violence and/or neglect, and developmental and cognitive disabilities (Anda, Felitti, Bremner, Walker, Whitfield, Perry, Dube, Giles, 2006; Arata, Langhinrichsen-Rohling, Bowers, OFarrill-Swails, 2005; Bardone-Cone, Maldonado, Crosby, Mitchell, Wonderlich, Joiner, Crow, Peterson, Klein, Grange, 2008; Johnson, Sheahan, Chard, 2003; Kaplow Widom, 2007; Kaslow, Okun, Young, Wyckoff, Thompson, Price, Bender, Twomey, Golding, Parker, 2002; Lewis, Jospitre, Griffing, Chu, Sage, Madry, Primm, 2006; Medrano, Hatch, Zule, Desmond, 2002; Smith, 1996; Sobsey, 2002; Taft, Marshall, Schumm, Panuzio, Holtzworth-Munroe, 2008). A consistent relationship between abuse history and poorer overall health has also been demonstrated in a stratified, epidemiological sample of both men and women within the United States (Cromer and Sachs-Ericsson, 2006). Childhood Maltreatment and Physical Health Problems A consistent dose-relationship between abuse history, poorer overall health, and sustained losses in health-related quality of life has been well established (Cromer Sachs-Ericsson, 2006; Golding, 1994; Corso, Edwards, Fange, Mercy, 2008). Childhood sexual abuse has been associated with physical complaints such as migraine, irritable bowel syndrome, fibromyalgia, and chronic pain (Goldberg, Pachas, Keith, 1999; Goodwin, Hoven, Murison, Hotopf, 2003; Ross, 2005; Walker, Keegan, Gardner, Sullivan, Bernstein, Katon, 1997). Furthermore, using data from the National Corbidity Study, a nationally representative general population study, Arnow (2004) found that abused children were likely to have pelvic and musculoskeletal pain as adults, and utilize health care services at a greater proportion in adulthood. However, a major limitation of these studies is exclusion of emotional and/or psychological abuse experienced in childhood. Additionally, results regarding the incidence of types o f childhood maltreatment and diabetes have been mixed. Diabetes Diabetes is a chronic disease characterized by the deficiency or resistance to insulin, a hormone needed to convert sugar, starches and other food into energy needed for daily living. As such, insulin deficiency compromises the body tissues access to essential nutrients for fuel or storage. According to the American Diabetes Association (ADA), there are 23.6 million children and adults in the United States, or 7.8% of the population, who have diabetes, many of which unaware that they have the disease (ADA, n.d., para. 2). Diabetes occurs in two primary forms. Type I diabetes is characterized by absolute deficiency and typically occurs before the age of 30. Type II diabetes, however, is typified by insulin resistance with varying degrees of deficiencies in the bodys ability to secrete insulin. Sedentary lifestyle and diet have been linked to the development of Type II diabetes. Other risk factors for this type of diabetes include obesity, pregnancy, metabolic syndrome, and various medications. Physiologic and emotional stress has also been thought to play a key role in the development of Type II diabetes specifically. Prolonged elevation of stress hormones, namely cortisol, glucagon, epinephrine, and growth hormone, increases blood glucose levels, which in turn places increased demands on the pancreas. Such stress ultimately leads to the inability of the pancreas to keep up with the bodys need for insulin and high levels of glucose and insulin circulate in the bloodstream, setting the stage for Type II diabetes (Diseases, 2006). Role of Stress in the Onset of Diabetes Animal Studies Researchers have found that both a history and presence of existing stressors play a significant role in the onset and course of diabetes. Through the use of animal studies, researchers have been able to prospectively test the influence of stress on both types of diabetes. For example, Lehman, Rodin, McEwen, and Brinton (1991) investigated whether an environmental challenge promoted the expression of diabetes in bio-breeding rats. Researchers introduced a triad of stressors to the animals over a 14-week period, including rotation of the cage, vibration, and restraint in individual containers. They found that the administration of these stressors repeatedly increased the likelihood of the rats developing Type I diabetes as indicated by elevated blood sugar levels (Lehman et al., 1991). One of the first observations that stress could contribute to the expression of Type II diabetes was made during metabolic studies of the native North African sand rat (psammonys obesus). Once fed with laboratory chow and allowed to become obese, the North African sand rat will eventually develop Type II diabetes in response to an environmental stressor (Surwit, Schenider, Feinglos, 1992). Notably, Mikat, Hackel, Cruz, and Lebowitz (1972) administered an esophageal intubation of saline in an effort to control the dietary intake of the sand rat. This tube feeding resulted in an alteration of glucose tolerance and precipitated the onset of Type II diabetes in these rats. Similar research was done on the genetically obese (ob/ob) mouse, which is used as a prototype of Type II diabetes in humans because of its pattern of obesity, hyperinsulinemia, hyperglycemia, insulin resistance, and glucose intolerance (Surwit, Feinglos, Livingston, Kuhn, McCubbin, 1984). To study the effects of env ironmental stress and sympathetic nervous system arousal on plasma glucose in ob/ob mice, Surwit et al. (1984) designed two experimental conditions. In the first condition, 15 ob/ob mice were shaken in their cage at a rate of 200 strokes per minute for five minutes. In the second condition, 16 ob/ob mice were injected with epinephrine bitartrate, a chemical whose effects mimic those of the stress response. Plasma glucose levels in mice from both conditions were found to be significantly elevated. The researchers concluded that environmental stress was partially responsible for the expression of the diabetic phenotype in this animal model of diabetes. Role of Stress in the Onset of Diabetes Human Studies Data gathered on the impact of life events on Types I diabetes in a human sample has yielded inconsistent results. An early study by Grant, Kyle, Teichman, and Mendels (1974) examined the relationship between the occurrence of life events and the course of illness in a group of 37 diabetic patients. Using Holmes and Rahes Schedule of Recent Events (SRE), a scale in which 43 significant recent life events are assigned a numeric value of life change units as a measurement of life stress, Grant et al. (1974) found that of the 26 participants who had a positive correlation between undesirable life events and illness, 24 had a positive correlation between undesirable events scores and diabetic condition. This data suggests that negative events were primarily responsible between life events and changes in diabetic condition since the inclusion of neutral and positive events did not increase the magnitude of the correlations. Despite the significant results, this study had a number of limit ations, including the utilization of a small sample size, difficulty in establishing reliable criteria for assessing subtle changes in the diabetic condition, lack of sufficient time to elapse between assessments for significant life changes to occur, and the lack of delineation of the types of diabetes studied (i.e. Type I vs. II). However, in a more recent meta-analysis, Cosgrove (2004) found no evidence to support the hypothesis that life events cause or precipitate Type I diabetes. Using an electronic and manual literature search of appropriate key words (namely, diabetes and depression, diabetes and depressive, diabetes and life events, diabetes and stress) in the literature up to July 2003, Cosgrove (2004) aimed to establish whether there might be a link between depression, stress, or life events and the onset of Type I diabetes. A total of nine papers were found from the electronic and manual search. It was concluded that when the number and severity of life events was compared to controls in all nine reviewed studies, no differences were detected in the diabetics (Cosgrove, 2004). Though data from small, older studies and large, randomized studies showed that early losses in childhood increase the risk of developing Type I diabetes, no evidence was found to support the hypothesis that life events cause o r precipitate this diagnosis. Meta-analyses with more recent studies have not been found studying the relationships between stressful life events in both types of diabetes. As such, it is unknown whether links have since been found by other researchers. More consistent evidence was found supporting the notion that stressful circumstances precipitate Type II diabetes. In their study of environmental stress on Type II diabetics, McCleskey, Lewis, and Woodruff (1978) measured glucagon and glucose levels on 25 patients who were undergoing elective surgery, a physical stressor. Ten samples were obtained during pre-operative, intra-operative, and post-operative periods for each patient. It was found that throughout the sampling period, diabetic patients had two times the amount of glucagon (a hormone produced by the pancreas that stimulates the increase of blood sugar levels) in their body compared to their non-diabetic counterparts (McCleskey, Lewis, Woodruff, 1978). This effect was also found in Pima Indians, who have an approximately 60% chance of eventually developing Type II diabetes, compared with 5% of the Caucasian population (Surwit, Schenider, Feinglos, 1992). The effects of a simple arithmetic task on blood glucose levels were studied in both Caucasian and Pima Indian samples. Surwit, McCubbin, Feinglos, Esposito-Del Puente, and Lillioja (1990) found that blood glucose was consistently higher during and following the stressful task in ten of 13 Pima Indians, concluding that altered glycemic responsivity to behavioral stressors anticipates the development of Type II diabetes in individuals who are genetically predisposed to the disease (Surwit et al., 1990). Results from The Hoorn Study further illustrated the effects of stress on Type II diabetes. Mooy, De Vries, Grootenhuis, Boutner, and Heine (2000) analyzed data from a large population-based survey of 2,262 adults in the Netherlands upon which the researchers were able to explore whether chronic stress is positively associated with the prevalence of Type II diabetes. Analysis of data confirmed their hypothesis; a high number of rather common major life events that are correlated with chronic psychological stress, such as death of a spouse or relocation of residence, were indeed found to correspond to a significantly higher percentage of undetected diabetes (Mooy et al., 2000). Because the study was conducted in the Netherlands on a Caucasian, middle-aged population, it is uncertain whether these findings are generalizable to other demographics in different geographic regions. Childhood Maltreatment and Diabetes Thus far, with the exception of one study, the research discussed has demonstrated a positive correlation between a variety of recent or current environmental stressors, such as anesthesia, surgery, cognitive tasks, death of a loved one, and other significant losses, and the onset of Type I and/or II diabetes in animals and human beings. However, the literature is somewhat limited as to the relationship between a past environmental stressor, namely childhood maltreatment, and Type II diabetes in adulthood. Numerous researchers examined the prevalence of medical problems in abused populations and have reported that diabetes is one of the most common health conditions among those who have experienced maltreatment. For example, using data drawn from the National Comorbidity Study conducted in the early 1990s, Sachs-Ericsson, Blazer, Plant, and Arnow (2005) examined the independent effects of childhood sexual and physical abuse on adult health status in a large community sample of 5,877 men and women. Sachs-Ericsson et al. (2005) found that childhood sexual and physical abuse was associated with the one-year prevalence of serious health problems for both men and women. Specifically, participants who experienced any form of childhood abuse were more likely to report having a medical condition, including AIDS, arthritis, asthma, bronchitis, cancer, diabetes, high blood pressure, kidney or liver disease, neurological problems, stroke, gastrointestinal disorders, or any other serious health pr oblem (Sachs-Ericsson et al., 2005). Though data from this epidemiological study likely represents the U.S. demographics, a number of limitations exist. Specifically, the researchers did not report the prevalence of each disorder endorsed and thus, the actual incidence of diabetes in the population sample is unknown. Furthermore, Sachs-Ericsson et. al (2005) did not look at additional forms of maltreatment, such as verbal abuse, emotional abuse, and neglect. Similarly, Walker, Gelfand, Katon, Koss, Von Korff, Bernstein, and Russo (1999) found a significant association between childhood maltreatment and adverse adult health outcomes. In particular, the researchers administered a survey to 1,225 women randomly selected from the membership of a large HMO in Washington State. Results indicated that women with childhood maltreatment histories were more likely to have an increased number of physician-coded ICD-9 diagnoses, grouped together as high blood pressure, diabetes, dermatitis, asthma, allergy, acne, and abnormal menstrual bleeding. Though the group of women in this study who reported threshold levels of sexual maltreatment had the poorest health outcomes, a major limitation of this study is the uncertainty as to whether additional forms of maltreatment were concomitantly experienced. Specifically, the authors do not establish whether sexual abuse solely was the cause of poorer health or is largely due to multiple forms of maltreatment in girls who were not properly protected in their early families. Moreover, Walker et al. (1999) do not differentiate between types of diabetes. Gender differences have been established in the association between physical abuse in childhood and overall health problems in adulthood. Analysis of data from 16,000 individuals interviewed in the National Violence Against Women Survey found that female abuse victims were at greater risk for health problems than their male counterparts (Thompson, Kingree, Desai, 2004). Furthermore, women with maltreatment history tend to have more distressing physical experiences, have an increased number of physician-coded diagnoses, and were more likely to engage in multiple health risk behaviors, including obesity a significant risk factor associated with Type II diabetes (Trickett, Putnam, Noll, 2005; Walker, Gelgand, Katon, Koss, Von Korff, Bernstein, Russo, 1999). Moreover, sexual assault history throughout ones lifespan was also associated with chronic disease (i.e. diabetes, arthritis, and physical disability) in a sample of women from Los Angeles (Golding, 1994). Conversely, in their sa mple of 680 primary care patients, Norman, Means-Christensen, Craske, Sherbourne, Roy-Byrne, and Stein (2006) found that the experience of trauma significantly increased the odds of arthritis and diabetes for men, while trauma was associated with increased odds for digestive disorders and cancer in women. Although the data suggests that childhood maltreatment is related to adverse health outcomes in adulthood, they do not address as to why associations differed by gender. Analyzing data from the Midlife Development in the United States Survey (MIDUS), Goodwin and Weisberg (2002) sought to determine the association between childhood emotional and physical abuse and the odds of self-reported diabetes among adults in the general population. Their results revealed that self-reported diabetes occurred in 4.8% of its representative sample of 3,032 adults aged 25-74 years. Childhood abuse was associated with significantly increased odds of self-reported diabetes, which persisted after adjusting for differences in socio-demographic characteristics and mental health status (Goodwin Weisberg, 2002). Moreover, individuals who specifically reported maternal emotional abuse and maternal physical abuse had significantly higher rates of diabetes (Goodwin Weisberg, 2002). Furthermore, data gathered from a sample of 130 patients (65 abused, 65 non-abused controls) drawn from an adult primary-care practice in a small, affluent, predominantly Caucasian community in northern New England revealed that patients with a history of victimization were more likely to report diabetes or endorse symptoms of this illness than non-abused participants (Kendall-Tackett Marshall, 1999). Specifically, four patients in the abused group reported diabetes, with none in the control group. Interestingly, those patients in the abused group did not have a significantly higher family history of diabetes than those in the non-abused group and a higher percentage of patients in the abused group reported having three of more symptoms than did those in the control group. Kendall-Tackett and Marshall (1999) assert that although only four people identified themselves as having diabetes, this number should be interpreted in the broader context of incidence of diabetes in the general population. Nonetheless, this finding could have been due to chance and many of the symptoms endorsed could have been related to other diseases (Kendall-Tackett Marshall, 1999). Additional limitations include the failure to differentiate between the types of abuse endured and the use of a non-empirically validated measure to gather data. Furthermore, the researchers did not specify which type of diabetes the participants were diagnosed with and did not indicate the severity of the disease. Data from the Adverse Childhood Experiences Study (ACE), however, found alternative results. Researchers Felliti, Anda, Nordenberg, Williamson, Spitz, Edwards, Koss, and Marks (1998) mailed questionnaires about adverse childhood experiences to 9,508 adults who had completed a standardized medical evaluation at a large HMO in California. It was found that abuse and other types of household dysfunction were significantly related to the number of disease conditions, with the exception of diabetes. Specifically, when those who had experienced multiple forms of childhood maltreatment were compared to those with no experiences, the odds-ratio for the presence of diabetes was a non-significant 1.6 (Felliti et al., 1998). The researchers believe that their estimates of the long-term relationship between adverse childhood experiences and adult health are conservative. Specifically, it is likely that, consistent with well-documented longitudinal follow-up studies, that reports of childhood abu se were underestimated due to the premature mortality in persons with multiple adverse childhood exposures (Felliti et al., 1998). Similarly, in a sample of 1,359 community-dwelling men and women aged 50 years or older, Stein and Barrett-Connor (2000) found no relationship between sexual assault history in participants lifetime and reported rates of diabetes. Rather, a history of sexual assault was associated with an increased risk of arthritis and breast cancer in women and thyroid disease in men (Stein Barrett-Connor, 2000). In this study, the researchers posit that the possibility of response bias is a major limitation. Namely, Stein and Barrett-Connor (2000) consider the likelihood that previously assaulted respondents have a greater tendency to visit doctors, leading to the increased opportunities for health conditions to be detected. Additional limitations include the lack of consideration for other types of abuse encountered in childhood. The Link between Childhood Maltreatment and Diabetes The above findings provide support for the hypothesis that childhood maltreatment may be associated with increased likelihood of the diagnosis of a medical condition, with the inclusion of diabetes in some studies. An essential question posed by this observation is by what mechanisms are adverse childhood experiences linked to health risk behaviors and adult diseases? A number of researchers have found that psychological stress, in particular, has been associated with the onset of Type II diabetes. This impact of stress on the etiology and course of Type II diabetes can be considered via the metabolic pathways by means of obesity and/or activation of the hypothalamic-pituitary-adrenal (HPA) axis, the gene-environment interaction, and the correlation of coping with diabetes and stressors. The stress response is a physiological coping response that involves the HPA axis, the sympathetic nervous system, the neurotransmitter system, and then immune system. There is growing evidence that victims of various forms of abuse and stressors often experience biological changes, particularly in the neuroendocrine system implicated in the stress response, as well as the brain (Glaser, 2000; Goenjian, Pynoos, Steinberg, Endres, Abraham, Geffner, Fairbanks, 2003; King, Mandansky, King, Fletcher, Brewer, 2001; McEwen, 2000). The HPA axis is the primary mechanism studied in the literature on the neurobiology of stress and is estimated through the non-invasive measurement of cortisol in saliva samples. During psychological stress, cortisol is elevated beyond normal levels in response to adrenocorticotropic hormone from the pituitary, mobilizing energy stores, and facilitating behavioral responses to threat (Diseases, 2006). In the presence of prolonged stress, especially in which the individual has difficulty coping, this physiological response may occur to an atypical extent and prove harmful. Dienstbier (1989) asserts that prolonged and/or extreme stress can create a vicious cycle of pathology, as individuals with a history of abuse may become even more vulnerable in the face of new victimization because they become threat-sensitized, resulting in either an over- or under-reaction of the HPA system to new stressors. As Vaillancourt, Duku, Decatanzaro, Macmillan, Muir, and Schmidt (2008) cite, this process is best illustrated by Cicchetti and Rogoschs (2001) study of maltreated children attending a summer day camp. These authors found that in comparison to non-abused children, children who had been both sexually and physically abused, in addition to emotionally maltreated or neglected, exhibited higher morning cortisol levels, whereas a subgroup of children who had only been physically abused exhibited lower levels. Recent evidence suggests that increased cortisol concentrations may contribute to the prevalence of metabolic syndromes, such as Type II diabetes. For example, in their assessment of 190 Type II diabetic patients who volunteered from a population study of 12,430 in suburban Germany, Oltmanns, Dodt, Schultes, Raspe, Schweiger, Born, Fehm, and Peters (2006), sought to assess the relationship between diabetes-associated metabolic disturbances and cortisol concentrations in patients with Type II diabetes. The target population comprised of men and women born between 1939 and 1958 who completed a postal questionnaire about their health status. Results demonstrated that in patients with Type II diabetes, those with the highest cortisol profiles had higher glucose levels and blood pressures (Oltmanns et al., 2006). Their findings suggest that HPA axis activity may play a role in the development of Type II diabetes-associated metabolic disturbances. Cartmell (2006) proposes a model by which this may occur. Namely, high levels of cortisol decreases metabolism of glucose and increase mobilization and metabolism of fats. This decreased metabolism of glucose contributes to increased blood glucose levels. Furthermore, increased blood fat levels contribute to insulin resistance. This increase level of blood glucose and fats are characteristic symptoms of diabetes (Cartmell, 2006). Researchers Chiodini, Adda, Scillitani, Colleti, Morelli, Di Lembo, Epaminonda, Masserini, Beck-Peccoz, Orsi, Ambrosi, and Arosio (2007) extended the literature by studying HPA axis secretion of cortisol and chronic diabetic complications. An evaluation was conducted on HPA activity in a sample of 117 Type II diabetic patients with and without chronic complications and in a sample of 53 non-diabetic patients at a hospital in Italy. Chiodini et al. (2007) found that in diabetic subjects without chronic complications, HPA axis activity was comparable with that of non-diabetic patients, whereas in diabetic subjects with chronic complications, cortisol level was increased in respect to both diabetic subjects and control subjects. Though the design of their study did not look for a cause-effect relationship, Chiodini et al. (2007) purport that higher levels of cortisol, either due to a constitutive HPA axis activation or secondary to a chronic stress condition, may predispose an individua l to the development of chronic diabetic complications. Type II diabetes is now a well-recognized syndrome characteristic of hyperglycemia, insulin resistance, obesity, dyslipidemia, and hypertension (Sridhar Madhu, 2001). One theory that purports the biological plausibility of a stress-diabetes association has been formulated by Swiss researcher, Dr. Per Bjà ¶rntorp. Bjà ¶rntorp (1997) postulated that stress could be responsible for sympathetic nervous system activation, hormone abnormalities, and obesity. This theory states that perceived psychological stress with a defeatist or helplessness reaction leads to an activation of the HPA axis. This in turn results in endocrine abnormalities, including increased cortisol and decreased sex steroid levels that disrupt the actions of insulin. In addition, this hormonal imbalance causes visceral adiposity, which plays an important role in diabetes and cardiovascular disease by contributing to the development of insulin resistance (Cartmell, 2006). Researchers of The Hoorn Study described above tested Bjà ¶rntorps theory and found only partial support (Mooy et al., 2000). Specifically, the accumulation of visceral fat did not seem to be the major mediating factor between stress and diabetes and fasting insulin concentration, which is an approximation of insulin resistance, was not higher in the individuals in their sample who had experienced more stressful events. Study Significance The significance of this study is its potential to provide medical practitioners with information regarding the impact of past psychosocial factors, such as childhood maltreatment, on the current physical health of Type II diabetics. Diabetes and its complications affect a significant portion of the United States population and has become the fifth leading cause of death in the country (Florida Department of Health, 2008). As researchers continue to look for the cause(s) of diabetes and methods to treat, prevent, or cure the disorder, it is vital that practitioners take a holistic and comprehensive approach to assessing the diabetics life. As long as abuse and other potentially damaging experiences in childhood contribute to the development of risk factors, then these childhood exposures should be recognized as the basic causes of morbidity and mortality in adult life (Felliti et al., 1998). Major limitations of past literature include lack of specificity of type of diabetes, family history, and self-reported diabetes without data on physiological measures. In addition to replication, future studies should include detailed studies on diabetes-type, a ruling-out of serious medical conditions that could potentially act as confounds, and identify maltreatment subtypes experienced. This study aims to uncover a relationship between childhood maltreatment and adult physical health, namely with Type II diabetes, so as to assist with screening and intervention. If doctors caring for adults who suffer from a medical condition associated with diabetes are unaware of this relationship, they will neither obtain early maltreatment history nor make appropriate patient referrals leading to higher health care utilization and poorer outcomes (Arnow, 2004; Springer, Sheridan, Kuo, Carnes, 2003). Research Questions and Hypotheses This study aims to answer the following questions: Is a history of childhood maltreatment associated with diabetes-related quality of life? If so, is a decrease in diabetes-related quality of life associated with an increase in the types of childhood maltreatment experienced? It is hypothesized that the more types of abuse endured during childhood (i.e. physical, emotional, and/or sexual, neglect, and/or the witnessing of family violence), the more chronic and severe an individuals diabetes will be and the greater impact of their illness on their reported quality of life. Method Participants Data will be collected from individuals with Type II diabetes, recruited from psychiatric practices located in Plant City and Tampa, Florida. Participants will be recruited from these sites due to likelihood that patients receiving psychiatric care have a history of childhood maltreatment. Participants will be included in the study if they are aged 40 and older, as non-insulin dependent diabetes appears after this age. Participants will be excluded fro

The Perception of Pain :: Senses Medical Essays

The Perception of Pain At some point in life, all people experience pain. The presence of pain can prevent further damage to an injured area or even prevent an injury from occurring, but pain that continues, after treatment or even after healing, can be debilitating (Loeser and Melzack, 1999). Stephani Curtis (1997) presents a case study of a 32-year-old woman, Mrs. J, who injured her lower back when she fell off a horse. As a result of this accident, Mrs. J experienced a ruptured lumbar disc. The treatment, a lumbar laminectomy, failed to alleviate her pain. Due to the pain and the effects of her prescribed medication, Mrs. J was forced to curtail her activities, and she had to quit her job as a truck driver. Psychologists, neurosurgeons, and other health-care professionals research to relieve pain for patients like Mrs. J. This much needed research offers hope for the millions of people whose lives have been disrupted by pain, such as chronic pain, hyperalgesia, and allodynia. While pain has always been present in humans' lives, Loeser and Melzack (1999) report that it is in only the past 30 years that pain research has made advances in both the treatment and the understanding of pain. There are three basic categories of pain: transient, acute, and chronic. Short-term, or transient pain, serves to protect an individual from any lasting damage. Nociceptive transducers activate this beneficial kind of pain in daily life when people stub a toe or get a mild sunburn. People rarely seek medical care to address transient pain symptoms. The pain itself motivates the person to stop the harmful activity to prevent additional pain and damaging injury. When damage does occur to an injured area, nociceptive transducers also activate acute pain, another beneficial type of pain. A broken bone or a tissue-damaging burn are examples of this medium-duration pain. People normally go to the doctor to aid the natural healing of the body and to reduce pain. Acute pain rarely continues for longer than three months; although, continuous acute pain from malignant diseases can last longer. The final category of pain, chronic, presents many challenges to both patients, like Mrs. J, and health-care providers. The pain fails to cease after treatment or even after healing in some cases. The body may be unable to heal as in the amputation of a limb. Pain experienced in the missing limb is known as phantom limb pain (Loeser and Melzack, 1999; Pain Drain, 1999).

An important event that changed my life

There are many changes that can happen in a person’ s life. Some changes are very tiny and would not affect your life very much. However, other events could be very important and could change a person’ s whole life, such as getting married, having a baby, or losing someone special. The important event that changed my life is coming to the United States to study. When I first arrived in this country, I realized that a tremendous transformation would happen in my life both physically and mentally. After spending more than two months in the United States, I firmly believe that moving to the United States is a beneficial change for me. This change provides me a chance to lead a healthy lifestyle as well as a new way of thinking that are significant for me.It is essential to have this change as it offers me a healthy lifestyle. Before coming to the United States, I used to stay up late at night to study and wake up early in the morning. This was a hazard to my health that co uld cause me to get sick easily. When I decided to come to America, I made up my mind and determined to keep a healthy routine. For example, I enjoy the American-style meal which includes having a fresh salad instead of cooked vegetables. This method of cooking vegetables helps me absorb more vitamins from them. As a result, I can feel that I am becoming healthier and healthier. 3Additionally, this important change enables me to think differently and internationally. This is my first time living in a North-American country. Hence, I have a brand new opportunity to experience a new culture. Because I live in a multicultural society, living in Los Angeles has expanded my horizon on a lot of things – lifestyle, eating habits, and respectful greeting manners. By knowing more about different cultures, I have become more considerate and understanding of various habits as well as behaviors from different races. Consequently, I have changed into someone who has a new way of seeing di stinct issues happening around me.To sum up, mov ing to the United States was an important change in my life because of giving me the chance to have a healthy lifestyle and a new way of thinking. I have changed my eating and sleeping habits in a good way. Meanwhile, I have become more understanding of different cultures. Thus, this change is very important and beneficial for me An Important Event that Changed my Life There are many changes that can happen in a person’ s life. Some changes are very tiny and would not affect your life very much. However, other events could be very important and could change a person’ s whole life, such as getting married, having a baby, or losing someone special. The important event that changed my life is coming to the United States to study. When I first arrived in this country, I realized that a tremendous transformation would happen in my life both physically and mentally. After spending more than two months in the United States, I firmly believe that moving to the United States is a beneficial change for me. This change provides me a chance to lead a healthy lifestyle as well as a new way of thinking that are significant for me.It is essential to have this change as it offers me a healthy lifestyle. Before coming to the United States, I used to stay up late at night to study and wake up early in the morning. This was a hazard to my health that co uld cause me to get sick easily. When I decided to come to America, I made up my mind and determined to keep a healthy routine. For example, I enjoy the American-style meal which includes having a fresh salad instead of cooked vegetables. This method of cooking vegetables helps me absorb more vitamins from them. As a result, I can feel that I am becoming healthier and healthier.Additionally, this important change enables me to think differently and internationally. This is my first time living in a North-American country. Hence, I have a brand new opportunity to experience a new culture. Because I live in a multicultural society, living in Los Angeles has expanded my horizon on a lot of things – lifestyle, eating habits, and respectful greeting manners. By knowing more about different cultures, I have become more considerate and understanding of various habits as well as behaviors from different races. Consequently, I have changed into someone who has a new way of seeing dist inct issues happening around me.To sum up, mov ing to the United States was an important change in my life because of giving me the chance to have a healthy lifestyle and a new way of thinking. I have changed my eating and sleeping habits in a good way. Meanwhile, I have become more understanding of different cultures. Thus, this change is very important and beneficial for me.

Time Management for Right-Brained

MANAGING TIME USING THE RIGHT BRAIN As we prepare ourselves to meet the challenges of the new century, we need to be concerned about the most critical of all resources, Time. As the pressure to become more competitive builds up, this resource is becoming more and more scarce. One can create and destroy any resource, but not time. However, the way time is managed differs from person to person. It is not how much time one has that is important. It is what do one does with one’s time. Most people have ambitions and aspirations in life. Every one wishes that he or she manages the goals in life successfully.But the critical issue is only a few succeed in reaching them in full. Why is that? There are different words to describe an outcome or an end result : ‘wish’, ‘desire’, ‘need’, ‘wants’, ‘goals’, are some of them. Of these, the word ‘goal’ presupposes a time frame and quantification and some efforts. B ut there is one more dimension to a goal in terms of its strength and intensity as understood by the mine. It is called ‘empowerment’. Empowerment is the process of giving an inner strength and wherewithal to reach the goal in spite of obstacles. It results in a mindset of restlessness and urge to reach the set goal.We need to look at the concept of time management from a different perspective. The process of what goes on in the mind is more important than what is exbibited outside a person in terms of setting priorities and pursuing various activities. To make a success of time management, it should be first be understood that it is a mind driven concept and not a system driven practice. To understand why some people manage time well, we should locate the seat of all our goals and aspiration in life. For this we should understand the working of the human brain.The human brain has two halves : the left and the right. The left brain is involved in language skills, it is analytical and it processes information in a linear fashion one after the other. It is logical and verbal. The right brain is the intuitive part of the brain, which is holistic and non-linear. This imaginative and creative part is responsible for the dreaming function. One this aspect of the brain is understood, it is easy to interpret what goes on in the mind of a successful person who manages his time effectively. In fact, there is no such thing as time management.The issue is self-management through pursuing an empowerment through emotional commitment. Any one who attaches a deep sense of emotion to the goal finds out a way of setting priorities to realise the same. He is able to withstand all the pains of initiating the controlling the various actions towards reaching his goal. For transferring the goal to the right brain, the visualisation skill of the right brain should be used. Before trying to manage one’s time, one should start with a powerful picture of the goal in his mind. One should visualise the goal with emotional attachment.It could all start with what others may dub it as a fantasy. After all, when you think about it, all inventions are a result of some one’s fantasies! 1 When the goal is powerfully represented in the mind through a bright picture of the future, the effect of the same involves the person so emotionally that it gets into his subconscious mind. The right brain alone can understand a person’s emotional attachment to his goal. When confronted with problems while reaching one’s goals, the left brain is logical and analytical and reasons out how it is impossible to reach the goal given the difficult circumstances.It reasons out how intense will be the problems to be surmounted, and, if allowed to prevail on the mine, will make the person to give up his goal. The way the right brain interprets the goal is different. It is not logical but intuitive. It is emotionally involved in the process of goal setting and will not give up. The right brain is not logical but creative and thinks about innovative ways of reaching the goal. It has already visualised the final scene of the goal achievement and hence ‘knows’ how nice it is to be in that situation of achievement and will not rest until newer and alternative methods of reaching the goal are found.A limiting belief makes you feel you are not capable of performing, as you want to due to some things present in the external system. Actually, limitation is not outside the person. It is within the mind. This is mainly due to the interpretation of the situation by the left brain, as it understands the situation. In such a situation, the right brain has to be used to get emotionally connected with the goal. This process will make the person believe in himself and his abilities to reach the goal. (Source : N. C. Sridharan’s article in The Hindu) 2 Related article: Â  Time Management

Definition and Examples of Primary Sources in Research

Definition and Examples of Primary Sources in Research In research  activities,  a primary source refers to information collected firsthand from such sources as historical documents, literary texts, artistic works, experiments, surveys, and interviews. It is also called primary data and is very different than a secondary source. The Library of Congress defines primary sources as actual records that have survived from the past, such as letters, photographs, or articles of clothing, in contrast to secondary sources, which are accounts of the past created by people writing about events sometime after they happened   Examples of Primary Sources [Primary sources] provide the raw data that you use first to test the working hypothesis and then as evidence to support your claim. In history, for example, primary sources include documents from the period or person you are studying, objects, maps, even clothing; in literature or philosophy, your main primary source is usually the text you are studying, and your data are the words on the page. In such fields, you can rarely write a research paper without using primary sources. (Wayne C. Booth et al. The Craft of Research. University of Chicago Press, 2008) Chief Characteristics The chief characteristics of  primary sources are: (1) being present during the experience, event or time and (2) consequently being close in time with the data. This does not mean that data from  primary sources are  always the best data. . . . Data from human sources are subject to many types of distortion because of such factors as selective recall, selective perceptions, and purposeful or nonpurposeful omission or addition of information. Thus data from primary sources are not necessarily accurate data even though they come from firsthand sources. (Natalie L. Sproull,  Handbook of Research Methods: A Guide for Practitioners and Students in the Social Sciences, 2nd ed. Scarecrow Press, 2002) Methods of Collecting Primary Data If the information you need is unavailable or hasnt yet been gathered, youll have to gather it yourself. Four basic methods of collecting primary data are field research, content analysis, survey research, and experiments. Other methods of gathering primary data include historical research, analysis of existing statistics, . . . and various forms of direct observation. (H. Dan OHair et al. Business Communication: A Framework for Success. South-Western, 2001) Secondary Sources and Their Bibliographies By identifying basic facts, such as year of construction, secondary sources can point the researcher to the  best primary sources, such as the right tax books. In addition, a careful reading of the bibliography in a secondary source can reveal important sources the researcher might otherwise have missed. (Alison Hoagland and Gray Fitzsimmons, History.  Recording Historic Structures, 2nd. ed., edited by John A. Burns. Wiley, 2004) Original Sources The distinction also needs to be made between primary and original sources. It is by no means always necessary, and all too often it is not possible, to deal only with original sources. Printed copies of original sources, provided they have been undertaken with scrupulous care (such as the published letters of the Founding Fathers), are usually an acceptable substitute for their handwritten originals. (E. J. Monaghan and D. K. Hartman, Undertaking Historical Research in Literacy, in Handbook of Reading Research, ed. by P. D. Pearson et al. Erlbaum, 2000) Finding and Accessing Primary Sources This one is entirely dependent on the assignment given and your local resources; but when included, always emphasize quality.  . . . Keep in mind that there are many institutions such as the Library of Congress that make primary source material freely available on the Web.  (Joel D. Kitchens, Librarians, Historians, and New Opportunities for Discourse. ABC-CLIO, 2012)

Cockney Rhyming Slang

Cockney Rhyming Slang Cockney Rhyming Slang Cockney Rhyming Slang By Sharon Cockney Rhyming Slang has been moving around the world, thanks to the popularity of East End gangster movies such as Lock, Stock and Two Smoking Barrels and many others. Its a series of words and phrases used by Cockneys and other Londoners. Originally, a Cockney was someone born within the area where they could hear the bells of St Mary le Bow church in Cheapside, London. (This is known as being born within the sound of the Bow Bells). However, an increasingly mobile society means that this label applies to anyone with Cockney heritage or accent. Rhyming slang consists of replacing a word or phrase with another that rhymes with it. To make it more confusing, the rhyme may be hidden, so that theres no obvious link between the slang term and the original word or phrase. No one is quite sure where the slang originates. Some speculate that it was designed to help thieves speak without being understood by others after a crackdown on crime in the heart of London. Others suggest that market traders created the slang so they could discuss matters among themselves while securing a good deal from their customers. What is known is that Cockney rhyming slang is alive and well, with new phrases entering the lexicon all the time. Some phrases have entered common British speech and are used daily without any awareness of their Cockney origins. Examples include: use your loaf (loaf of bread = head) have a butchers (butchers hook = look) cobblers rubbish (cobblers awls = balls) porkies (pork pies = lies) donkeys (donkeys ears = years) Other traditional expressions which are perhaps less widespread include: apples (apples and pears = stairs) plates (plates of meat = feet) Barnet (Barnet Fair = hair) Boat race (= face) Trouble (trouble and strife = wife) Pony (pony and trap = crap) Adam and Eve (= believe) dog (dog and bone = phone) china (china plate = mate) Rosie (Rosie Lee = tea) rabbit (rabbit and pork = talk) whistle (whistle and flute= suit) bacons (bacon and eggs = legs) cream crackered (= knackered tired) minces (mince pies = eyes) tea leaf (= thief) jimmy (Jimmy Riddle = piddle pee) The Cockney Rhyming Slang site also lists several examples of modern slang expressions, including: Ayrton (Ayrton Senna = tenner ten pound note) A la mode (= code) Anneka Rice ( = advice) Adrian Mole (= dole unemployment benefit) Abergavenny (= penny) These are just a few examples. The BBC provides a long list of Cockney Rhyming Slangand theres another extensive list here. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:Compared "to" or Compared "with"?8 Writing Tips for Beginners10 Types of Hyphenation Errors

Automotive Industry in Slovakia Essay Example for Free

Automotive Industry in Slovakia Essay 2. Describe the industry and explain why you have chosen that one (Porter’s five forces). The automotive industry is a big term; indeed it is used to describe a large range of companies and organizations engaged in the development, design, manufacture, marketing, and selling of motor vehicles. The automotive industry is one of the world’s most important economic sectors in terms of revenue. The automotive industry is one of the biggest industries in Slovakia with big manufacturers such as Volkswagen, PSA Peugeot- Citroà «n and Kia. Porter’s Five Forces are used to examine the attractiveness of an industry. It is done by observing five forces which influence that industry. The five forces are; 1. The threat of new entrants 2. The bargaining power of customers 3. The threat of substitute products 4. The bargaining power suppliers have 5. The intensity of the competitive rivalry This is generally a very low threat. Factors to examine for this threat include all barriers to entry such as upfront capital requirements, brand equity, legislation and government policy and the ability to distribute the product. A new entrant will also have to adapt he’s cars to the customers habits, e.g. bigger cars in the US than in Europe. 2. The bargaining power of customers: There are so many cars to choose nowadays. The main factors that affect the customer’s choice to purchase a car or not are: * The appearance * Quality * Price * Environmental effect Customers like to have the latest brand new looking car on the market. The quality of the car will be an important issue in the choice. The car has to be efficient, which means a safe and less consuming car. Due to all the competitors you find in the market, customers will be able to purchase a cheaper car at a good level of quality. Car manufacturers are also building environmental friendly cars; indeed, they have to take into consideration all the environmental problems we are having nowadays. A car will be purchased depending on the lifestyle of the buyer. 3. The threat of substitute products There are very low substitute products, indeed apart from the second hand business where you are able to purchase older cars at lower prices than the new ones or a city/country with very good public transportation, bicycle lanes that would allow you to move in a different and cheaper way than our usual cars you will not find any other substitute. 4. The bargaining power suppliers have: In the car industry this refers to all the suppliers of parts, tires, components, electronics, and even the assembly line workers. Suppliers usually have very low power, indeed, each manufacturer has many suppliers. Toyota has more than 10 different suppliers in the US which means car manufacturers do not rely at all on the suppliers but the suppliers rely on the manufacturers. 5. The intensity of the competitive rivalry In most countries all carmakers are engaged in fierce competition. All major car-producing nations experience this intense rivalry. This obviously includes the US, Japan, Italy, France, the UK, Germany, China, India, and more. While a Porters five forces analysis applies to all companies competing in one same industry, what differs is that those firms’ profitability will vary between them. This is because of their own competitive advantages and varying business models. So just because all firms in one industry and market are subject to the same forces doesn’t mean they perform equally. We should not forget that an analysis of Porters five forces will not be the same in all countries and same for the type of automotive industry, we understand by type whether if it’s the electric car industry or the conventional car industry. 4. Describe profile of successful business leader (or company) operating in this industry. Identify key elements of the strategy that lead her/him to success. Automotive Industry in Slovakia. (2016, Dec 08).

Business Accounts and Users of Financial Statements Research Paper

Business Accounts and Users of Financial Statements - Research Paper Example This paper tells that each of the users  of financial statements has different needs and interest in financial information. First, investors require financial information to assist in making investment decisions. Before putting their resources for investment purposes, investors have to evaluate the performance of firms to establish whether the businesses can enable them to earn their required rate of return (Fess & Warren 1993). This would help them make an investment decision and determine what amount to invest in a firm. Shareholders are also interested in the financial performance of the firm as it determines the dividends they will receive and the worth of their investment. Firms with good financial performance well will have good share prices and shareholders will need this financial information to determine whether to sell their shares or buy more shares (Nikolai, Bazley, & Jones 2009). Lenders are the second users of financial information. Lenders are either individuals or f inancial institutions that offer loans to firms that are need of funds. Before making their lending decision in terms of whether to lend and what amount to give to firms. They have to look at the financial performance to determine the risk of their money. The lenders will be interested in the performance of the firm within the duration of their loan (Fess & Warren 1993). In addition, the employees and their unions are also interested parties of a firm’s financial statement. Employees put their efforts in ensuring that the firm achieves their objectives and therefore need feedback on their performance. They also require the financial statements as a basis for bargaining for their increment in remuneration and other benefits like retirement.  The employees also need financial information to help in the formulation of new strategies that are meant for improving the performance of the organization. Financial information as well is needed by the employees to determine the organi zation continued existence for job security purposes. Creditors and suppliers are also interested in the financial information to determine the ability of the business to pay their owing debt as they fall due. This group is interested in the short term liquidity of the business rather than the long term performance (Deloitte 2011). Firms with good financial performance will have reliable creditors. Moreover, customers are also interested in the financial performance of the business in cases where they are interested in long term relationship with the business. Customers who depend solely on the business for their products will need to require surety of the business continued existence. Notwithstanding, the government authorities be it federal or state need the financial information for regulatory purposes. The security exchange authority will need financial information to determine the policies and to determine the national income of the country (Deloitte 2011). They also require fi nancial performance as a way of determining the soundness of the capital markets. The public may also be interested in the financial performance especially to businesses that affect the general public good. The public closely monitors businesses that are major employers or contribute substantially to the economy (Kravitz 1999).  

Monetary Policy of the U.S. Federal Reserve Essay

Monetary Policy of the U.S. Federal Reserve - Essay Example This paper discusses the U.S. Federal Reserve's monetary policy. Most simple put the attempt by the Federal Reserve to establish balanced national income and help spur economic growth by controlling the size of the money supply is termed as monetary policy. It is implemented with the help of policy tools which usually consist of open market operations, discount rates, and reserve requirements. Open market operations are the strongest monetary policy tool consisting of the purchase and sale of treasury and federal agency securities. The federal open market committee normally specifies all short-term objectives related to open market operations. These objectives normally identify reserve targets or the desired federal funds rate. It is interesting to note that there have been diverse objectives over the years ranging from federal funds rate targets in the eighties to policy changes in the nineties. No matter what the short term objective the long term objective has always been price st ability and sustainable economic growth. Another integral monetary policy tool is the discount rate which most simply put is the interest rate being charged to depository institutions including commercial banks on loans they receive from their regional discount window (Federal Reserve Bank's lending facility). These loans include primary, secondary and seasonal credit each one with its own respective interest rate. The primary credit program consists of very short term loans to sound financial institutions. Those not eligible for primary credit are allowed to apply for secondary credit whereas seasonal credit is provided to those depository institutions that have fluctuating funding requirements. It should be noted that the discount rates on all three lines of credit vary with the rate on primary credit being the lowest followed by a higher rate on secondary credit whereas the seasonal credit discount rate is an average of selected discount rates. Reserve requirements are another monetary tool that which as the name signif ies are the number of reserve funds that a depository institution must hold as a safeguard against deposit liabilities. These reserves are held in the form of physical cash or deposits with Federal Reserve Banks with the board of governors having lone authority over any changes in the reserve requirements. The reserve requirements are not erratic and are determined using Federal Reserve Board Regulations.All of the above help the government implant its monetary policy and eventually result in a stronger economic power. Proper use of monetary policy can have extremely positive results which were visible during the first half of 2006 when the US economy showed speedy growth. Any change in the federal funds rate triggers a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services.

Psychology project Essay Example | Topics and Well Written Essays - 3250 words

Psychology project - Essay Example Sternberg goes on to elaborate that compassionate love consists of liking without sexual desire. He traces compassionate love to humanities biological heritage. The extreme helplessness of a human infant who cannot even hold his/her head upright for the first five months and needs the support of an elder care giver who nurtures his life guided primarily with the feelings of compassionate love for the completely vulnerable and helpless organism that man is at birth. So the perpetuation of the species to a large extent is dependent on the compassion and care our older care givers gave us to enable us to survive. Sternberg states that compassionate love results from both intimacy and commitment - (minus the passion). Compassion is an unconditional love rather like the love God has for humanity or like the brotherly/sisterly love shared by homeless people who share a deeper caring for each other even though they are not related. By its very definition compassionate love in my view is important as it will act as an anti-dote to fight terrorism and the senseless hatred of people who are different. More then any other kind of love, compassion is the one type of love that will facilitate a perpetuation of the species because, the more compassion we have for each other, the less likely we are to bump each other off. Robert Sternberg's triangular theory of love states love has three components- 1) Intimacy 2) Passion 3) Commitment. Various combinations of these result in different types of love. For example, a combination of intimacy and commitment results in compassionate love. According to Sternberg compassion is a more durable form of love as it is based on the two elements of commitment as well as intimacy, while love that is based on a single element, like say, passion is more likely to fizzle out with time. In this paper we will examine various theories on love to try and better understand the nature of love in general and compassionate love in particular. Biology of Psychology Here is the idea- 'Natural selection' offers the advantage of survival and so is more likely to be practiced by future generations. Darwin states, "can we doubtthat individuals having any advantage, however slight, over others,would have the best chance of surviving and of procreating their kind On the other hand, we may feel sure that any variation in the least degree injurious would be rigidly destroyed. This preservation of favorable variations and the rejection of injurious variations, I call Natural Selection."(Darwin, 1859, Natural Selection, The Origin of Species,) It could be that when we fall in love

The Economic in Taiwan Essay Example | Topics and Well Written Essays - 2250 words

The Economic in Taiwan - Essay Example As a result, even in the best case scenario, economic growth in the region will suffer into the second half of 2003. The rising impact of SARS (in line with a rising number of cases) on private consumption, coupled with a lower than expected rise in GDP growth in the first quarter of 2003, has led us to reduce our forecast for economic growth in 2003 as a whole from 3.7% to 3.2%. A stronger recovery in both domestic and external demand will result in GDP growth of 5.4% in 2004. Taiwan is unlikely to face significant inflationary pressures until late 2003 as domestic demand remains sluggish and international inflationary trends continue to be benign. Entry to the World Trade Organisation (WTO) in January 2002 has reduced imported inflation and will continue to put downward pressure on prices in the forecast period. Following the US-led war in Iraq, prices on international oil markets have eased. As a result, we expect the consumer price index to rise by an average rate of only 0.3% year on year in 2003. Stronger domestic and international demand for goods and services are expected to revive price pressures in 2004, lifting inflation to an annual average of 1.4%. We expect the CBC to allow the currency to remain weak, mainly in order to maintain the competitiveness of Taiwan's exports against those of Japan and South Korea. However, exports are unlikely to receive a major boost as a result, owing to general weakness in world demand, but the measure will help Taiwan producers to maintain market share. The CBC will allow the New Taiwan dollar to appreciate significantly only once there is sufficient evidence of a sustained recovery in GDP growth. Accordingly, in 2003 the currency will strengthen slightly in line with faster GDP growth late in the year, and as a result, average NT$34.79:US$1. Once the recovery in GDP growth gains momentum in 2004, the currency will appreciate further, to an annual average of NT$34.24:US$1 in 2004. The rate of growth in merchandise exports in US dollar terms has recovered since the second quarter of 2002. However, US demand-- the US is the destination for close to one-quarter of total exports--for Taiwan's exports has remained weak since the beginning of 2003. In addition, some of the year-on-year growth in exports during 2002 reflected base effects of comparison with 2001, when Taiwan's US dollar export earnings suffered double-digit declines. (Chu 79-104) The weak Taiwan dollar policy adopted by the CBC, mainly owing to the weakness of the Japanese yen, will not be enough to strengthen exports significantly. Nevertheless, exports to Asia, in particular China, will continue to provide some stimulus to the country's external sector. Imports have also been rising since mid- 2002. This trend is likely to be interrupted by fragile domestic demand (not helped by SARS) and the loss of momentum in export growth, although import growth is still expected to outpace export growth in 200 3-04. As a result, the

The Relevance of the Capital Asset Pricing Model to a Company Seeking Essay

The Relevance of the Capital Asset Pricing Model to a Company Seeking to Evaluate its Cost of Capital - Essay Example The Capital Asset Pricing Model was devised by William Sharpe to calculate as well as explain â€Å"†¦the expected rate of return on an asset †¦ (that) †¦can be written as the risk-free rate of interest plus the asset’s normalized covariance with the market times the difference between markets expected the rate of return and the risk-free rate† (Milne, 1995, pp. 5-6). Under financial theory CAPM is a model that shows assets returns concerning principle in conjunction with econometric models (Milne, 1995, pp. 5-6), and is represented by the following formula (Burton, 1998, pp. 21-22): CAPM is calculated using the beta as it provides a measurement of a stock's volatility in terms of its movement comparison with the overall stock market (Burton, 1998, pp. 21-22). The above means that when a company’s share price moves in tandem with the market, with the beta of a stock is represented by 1 and a 15% movement indicated as 1.5 (Burton, 1998, pp. 21-22). Foster (1986, p. 337) provides a summary of the two assumptions present in the Capital Asset Pricing Model as represented by â€Å"1. Two statistics, the mean and variance, are sufficient to describe investor preferences over the distribution of future returns on a portfolio. 2. Investors prefer higher expected returns to lower expected returns for a given level of portfolio variance, and prefer lower variance to higher variance of portfolio returns for a given level of expected returns". Corporate finance managers utilize CAPM to determine the estimated discount rate that is connected to a project under consideration (Ferran, 1999, p. 12). In conjunction with the foregoing, CAPM is used as a means to measure the systematic risk present in equity investment projects (Megginson, 1997, Pp. 107-123).  

Psychology project Essay Example | Topics and Well Written Essays - 3250 words

Psychology project - Essay Example Sternberg goes on to elaborate that compassionate love consists of liking without sexual desire. He traces compassionate love to humanities biological heritage. The extreme helplessness of a human infant who cannot even hold his/her head upright for the first five months and needs the support of an elder care giver who nurtures his life guided primarily with the feelings of compassionate love for the completely vulnerable and helpless organism that man is at birth. So the perpetuation of the species to a large extent is dependent on the compassion and care our older care givers gave us to enable us to survive. Sternberg states that compassionate love results from both intimacy and commitment - (minus the passion). Compassion is an unconditional love rather like the love God has for humanity or like the brotherly/sisterly love shared by homeless people who share a deeper caring for each other even though they are not related. By its very definition compassionate love in my view is important as it will act as an anti-dote to fight terrorism and the senseless hatred of people who are different. More then any other kind of love, compassion is the one type of love that will facilitate a perpetuation of the species because, the more compassion we have for each other, the less likely we are to bump each other off. Robert Sternberg's triangular theory of love states love has three components- 1) Intimacy 2) Passion 3) Commitment. Various combinations of these result in different types of love. For example, a combination of intimacy and commitment results in compassionate love. According to Sternberg compassion is a more durable form of love as it is based on the two elements of commitment as well as intimacy, while love that is based on a single element, like say, passion is more likely to fizzle out with time. In this paper we will examine various theories on love to try and better understand the nature of love in general and compassionate love in particular. Biology of Psychology Here is the idea- 'Natural selection' offers the advantage of survival and so is more likely to be practiced by future generations. Darwin states, "can we doubtthat individuals having any advantage, however slight, over others,would have the best chance of surviving and of procreating their kind On the other hand, we may feel sure that any variation in the least degree injurious would be rigidly destroyed. This preservation of favorable variations and the rejection of injurious variations, I call Natural Selection."(Darwin, 1859, Natural Selection, The Origin of Species,) It could be that when we fall in love

The Relevance of the Capital Asset Pricing Model to a Company Seeking Essay

The Relevance of the Capital Asset Pricing Model to a Company Seeking to Evaluate its Cost of Capital - Essay Example The Capital Asset Pricing Model was devised by William Sharpe to calculate as well as explain â€Å"†¦the expected rate of return on an asset †¦ (that) †¦can be written as the risk-free rate of interest plus the asset’s normalized covariance with the market times the difference between markets expected the rate of return and the risk-free rate† (Milne, 1995, pp. 5-6). Under financial theory CAPM is a model that shows assets returns concerning principle in conjunction with econometric models (Milne, 1995, pp. 5-6), and is represented by the following formula (Burton, 1998, pp. 21-22): CAPM is calculated using the beta as it provides a measurement of a stock's volatility in terms of its movement comparison with the overall stock market (Burton, 1998, pp. 21-22). The above means that when a company’s share price moves in tandem with the market, with the beta of a stock is represented by 1 and a 15% movement indicated as 1.5 (Burton, 1998, pp. 21-22). Foster (1986, p. 337) provides a summary of the two assumptions present in the Capital Asset Pricing Model as represented by â€Å"1. Two statistics, the mean and variance, are sufficient to describe investor preferences over the distribution of future returns on a portfolio. 2. Investors prefer higher expected returns to lower expected returns for a given level of portfolio variance, and prefer lower variance to higher variance of portfolio returns for a given level of expected returns". Corporate finance managers utilize CAPM to determine the estimated discount rate that is connected to a project under consideration (Ferran, 1999, p. 12). In conjunction with the foregoing, CAPM is used as a means to measure the systematic risk present in equity investment projects (Megginson, 1997, Pp. 107-123).  

The novel Of Mice and Men and the characters Crook, Candy and Curlys wife Essay Example for Free

The novel Of Mice and Men and the characters Crook, Candy and Curlys wife Essay Discuss the theme of loneliness in the novel Of Mice and Men by looking at the characters Crook, Candy and Curlys wife Loneliness plays an integral role in the novel and it is this theme, which effectively leads to the inevitable ending. Each of the characters mentioned in the essay title re-enacts different aspects of the definition loneliness. Hence I will explore the way in which Steinbeck epitomises loneliness, using each of these characters. Crooks is depicted as a loner due to his supposed unfortunate predicament of being born a nigger. Despite this term being derogatory, it highlights the immediately low social stratum that black people occupied in a period where racism and segregation was prominent. The boss gives him hell when hes mad Just because is black, he is at the receiving end of the boss; wrath, a white man. Crooks is described by Candy as a nice fella. The reader is left to assume that the only Black character mentioned in the story is lonely, as the reader is almost oblivious of his presence. It is but for the initial reference to him and the re-emergence of his character in the middle section of the book that the reader is forced to remember. The idea of loneliness with reference to Crooks character has two explanations. The primary reason for his loneliness is Cause [Hes] black. Crooks is annihilated due to his race which in the period when the book was written, segregation was rampant. The reader learns exactly what Crooks feels about his treatment: I aint wanted in the bunkhouse Cause Im black I cant play [cards] because Im black. They say I stink. This outburst signifies the loneliness he feels. He is ostracised due to his race and is not allowed to participate in any activities. Unlike the other characters that experience loneliness, the reader feels that his isolation is the most extreme, as he is black, which automatically relegates him to a low class. The second explanatory for his loneliness is his disability, which evokes a form of loneliness. Crooks has a crooked back. And so presumably, he does have not much use due to his inability to provide a service. Slim suggest that inability to provide a service notes your uselessness: I wish somebodyd shoot me if I get old and cripple. Crooks falls into both these categories. As well as being old, he is cripple, therefore shooting him is of no great loss. Crooks annihilation due to his race and forced into a low social stratum he has an equal status as an animal. This is well represented in c chapter four, where the reader learns that Crooks has his bunk in the harness, and what worsens the situation is the fact that his actual bunk is made from straw, which is what forms many animals beds. The reader also learns that he has a manure pile in his room. Several references are made to his medication, where he owned a range of medicine bottles, both for himself and for the horses. The fact that he uses medication indicates that he often feels pain: Now and then he poured a few drops of the liniment into his pink-palmed hand He flexed his muscles against his back and shivered. Crooks is constantly applying liniment to his back, which may be to ease the pain he feels. He is often in pain and so may not be able to cope with strenuous activities, thus his uselessness and inevitable isolation. The descriptions used with reference to Crooks appearance, may symbolise the suppression he feels from the world. The fact that his body was bent over to the left by his crooked spine forces the reader to relate this to his bad treatment in life. It may suggest that he has had a rough life and the reader assumes that his injury epitomises the hardship and rejection felt, thus his sub-human status. Steinbeck describes Crooks as having deep black wrinkles. The fact that they are deep is also indicative of the depth of strain that he has endured in life, yet we are given no impetus that he has been badly treated at the ranch. Lennie in some ways breaks Crooks loneliness, when he intrudes in his room. Although he scowled in response to Lennies intrusion the reader feels that his presence is welcomed thus Crooks says, It was difficult for Crooks to conceal his pleasure with anger. Crooks becomes more comfortable with the company and the reader delves into his past as he confides with Lennie. The reader pities Crooks attributed to the fact that he views himself as just a nigger talking a busted-black nigger. Crooks indeed pities himself and his predicament. He is lonely as his only true company is himself. Hence, when Lenny tells how he has George, Crooks is in some ways envious of their relationship thus forcing Lennie to consider a pessimistic situation: You got GeorgeSpose you couldnt go into the bunk-house and play rummy cause you was black Spose you had to sit out here an read booksBooks aint no good. A guy needs somebody to be near him A guy goes nuts if he aint got nobody Dont make no difference who the guy is long as hes with you a guy gets lonely, an he gets sick The fact that Crooks aint got nobody generalises his reasons for his loneliness. This saddens the reader, as up till now he has been forced to keep this too himself, but his treatment makes him sick. He pours out his inner feelings and the reader appreciates that reading, his most frequent form of communication, is an escapism, but he concludes books aint no good. Lennie relishes in the fact that he and George will own some land of their own, however Crooks is rather pessimistic. Having seen many aim for a better life and fail, he concludes Nobody gets to heaven, and nobody gets no land. The reader considers Crooks extreme pessimism and concludes that due to his constant disappointment and failure, such improvements are but dreams and only exists in their head. However, a glimpse of faith is evident in Crooks character and maybe a realised dream himself, when almost convinced by Lennies revelation to live on the fatta the lan he responds: If you guys would want a hand to work for nothingwhy Id come an lend a hand This outburst indicates his eagerness and yet hope for some sort of recognition in life. The fact that this dream seems achievable gives him a glimmer of hope. For a short while at least his cocoon of isolation seems to be disintegrating: It was difficult for Crooks to conceal his pleasure with anger This narrative indicates that he is content, as he finally has human company, which he can interact with. The fact that Guys dont come into a coloured mans room very much indicates that despite the solemnity he has become accustomed to, company is always welcome, after all A guy goes nuts if he aint got nobody The partial hope of escaping from his sombreness is probably what gives him enough courage to say to Curleys wife on her intrusion into his room, Maybe you better go to your own house. Despite it being his own space, Crooks essentially relinquishes his non challenging role as a negro and dares to question a white persons authority. Yes, he can dream, but Curleys wife throws reality back in his face when she relegates him back to the terrible protective dignity of a negro. Crooks accepts that he will never be a white persons counterpart and concludes: You guys comin in an settin made me forget. What she says is true. Crooks forgot his place as a Nigger and so had reduced himself to nothingnothing to arouse either like or dislike. Crooks is lonely and no one in the story truly understands his predicament. However the reader is forced to conclude, that his annihilation is what retains the fact that he is proud [and] aloof. When he was on the verge of putting an end to his loneliness, thus confronting Curley wife, he realised that [for] a coloured man to have some rights, even if he dont like em., he has to settle for an inferior position in society or face humiliation. Through Crooks loneliness, he retains his pride. In considering Candys loneliness, the reader automatically compares him to that of Crooks. Candys character in the play symbolises the fate of those who are old and disabled. He has the most menial job on the ranch as the swamper and it is primarily because of his disability why he has turned into a self-pitying worker. Although he is lonely, his dog provides him with some sort of comfort. Despite his dog being weak, because [hes] so used to him and had him from a pup he feels some sort of attachment to the dog. The reader is forced to deduce that maybe the dog reflects Candys temperament. Both are old, walk with a limp and could receive the same fate of being killed due to their uselessness. Steinbeck describes the dog as: drag footed sheep dog[with] blind old eyes. The dog struggled lamely to the side This description shows the reader, the bad condition of the dog. The reader understands that as well as not walking properly, the dog is blind and its whole existence is a struggle. Carlson describes the dogs condition as: Got no teeth Hes all stiff with rheumatism. He aint no good to you Candy. Candy and his dog, and Crooks suffer a similar fate, as all of them are retired and so are of no use, as they can not carry out service jobs. Candy is attached to the dog. The fact that the dog is a reflection of himself, initially a hard worker, but now cripple to due his hard work killing it would mean he deserves to be killed also, as both have passed their usefulness. When Candy is forced to put the dog down, through Steinbecks descriptions, the reader realises how much the dog actually means to him: he subdued the hand with the other and held it down he rolled over and faced the wall and lay silent This is rather a sombre description. It underlines the fact that by killing the dog, his only long-term companion, means a part of him would be missing. Hence when he shares in Lennies and Georges dream he somehow feels rejuvenated. Candy shows interest in their dream as by being a part of it, it entitles him to have a future outside of the ranch and some human company. He would no longer have to be subservient to anybody, thus he would not receive the same fate as those who are in the same predicament as himself. It is interesting to note that he finds out about their dream while he would normally be alone, but for Lennies and Georges presence. Many people who are lonely thrive on gossip, as this is a means of escaping their own dismal life and delving into the life of someone elses, often more interesting than their own. This is so for Candy who is described as [warming] to his gossip. He speaks about Curley and even refers to his wife as a tart, yet the reader observes how inferior he actually is, when Curleys wife calls him a lousy ol sheep. Candy does tell Curleys wife what he thinks of her, but he realises that -Nobody d listen to us. In society, he is insignificant and thus his loneliness. Curleys wife experiences a unique form of loneliness. From an early stage in the book, the reader regards Curleys wife as that of a sex symbol. Throughout the story she is never named, but the reader only considers her as a tart, purty and a looloo. Glove fulla vaseline This refers to Curley who actually degrades his wife openly, by the display of this sexual connotation. Due to this derogatory act, it is no surprise to the reader that she is lonely. She is thought of as an object, not a person. She is not appreciated for her talent although according to her [she] could of went with shows because of it. While Curley is out enjoying himself she is left talking to a bunch of bindle stiffs. The reader knows she is lonely, through her constant search for attention. Through exploiting her sexuality does she try to conceal her loneliness hence, she flirts with Slim and constantly wanders around the men the ranch. It is interesting to note, that her only defence to Crooks when he asks her to come out of his room, is to threaten him with rape charges. The fact that she is lonely, she knows nothing else but to exploit her sexuality again. She is very shallow Curleys wife actually admits I get lonely I cant talk to nobody but Curley. This is why she is constantly seeking attention. When Lennie says he is not supposed to talk to her she questions angrily Whats the matter with me?. Again she uses this opportunity to tell Lennie about the dreams that she had. She becomes so comfortable speaking with Lennie that it is this which leads to her death. She is so willing to poor out her heart, her disappointment and the fact that she is lonely, that Lennie gets attached. It is her sexuality which causes her death. She confides in Lennie admitting that [she] don like Curley. So when Lennie starts to stroke her hair she does not mind initially, but this flirtatious act is what leads to her death. Lennie kills her involuntarily; yet this fate was inevitable. Each of these characters experienced their own forms of loneliness. It is quite interesting to note that each of the characters all end up in the same room, having been left out of the other activities which the men are indulging in: Crooks because he is black, old and cripple, Candy because he is old and disabled and Curleys wife as she is thought of as a sex object, not a person. Although she asks herself, An what am I doin? Staindin here a nigger an a lousy ol sheep. Yet she answers her own question when she says, They left all the weak ones here. She actually does belong there as all characters are lonely in some way or another and have been excluded from the activities of the ranch. Is it not fair that they comfort each other? The reader understands that this is not possible, as they are not compatible with each other due to their different predicaments.

The Significance Of Outer Space Tourism Marketing Essay

The Significance Of Outer Space Tourism Marketing Essay Outer space tourism is not such a novel idea, after all. In 1954 Thomas Cook of Great Britain offered a Moon Register. Potential space tourists could purchase options on the earliest available commercial lunar tour, and more than one thousand people signed up, although Cook reportedly did no advertising (Eilingsfeld and Abitzsch, Space Tourism, 1993, 1). In 1968, after the motion picture 2001: A Space Odyssey excited the public imagination about space, airlines such as Pan American (Pan Am) and Trans World Airline (TWA) began taking reservations for trips to the moon. A paltry $5 got you a spot on the waiting list (Anderson, Space Tourists, 2005, 11). The only outer space tourists to date were Dennis Tito in 2001 and Mark Shuttleworth in 2002. In 2003, Russian space officials and employees at Space Adventures announced plans to send four tourists to the International Space Station aboard Soyuz missions by 2007 (Anderson, Space Tourists, 2005, 15) Travelling to space is not exactly a stroll to the park, but it is no longer a journey confined to the imagination, either. Knowledgeable instructors are ready and willing to help, advanced simulators are accessible, spaceports abound, and new spacecraft are making the trip easier and more comfortable than before {Space Tourists, 12) Near-term projections for the emergence of a viable outer space tourism industry are very encouraging, taken at face value. Near-term projections for the emergence of a viable outer space tourism industry are very encouraging, taken at face value. Virgin Galactic has purchased five spacecraft for $120 million from space pioneer Burt Rutan, and expects to begin operations in 2008. Virgin Galactic sources claim that 38,000 people have paid deposits towards the $120,000 ticket, and that ninety passengers have paid in full in advance (Radliffe, The News, 2006, 3). According to another report, it aims to eventually launch 10,000 passengers into space each Year (Webb, Spaceports Next, 2006, Al). By 2020 there might be 430 such tlights annually, according to one study, creating $550 million to one billion dollars in local revenue and 4,000 jobs. This estimate excludes the employment of 2,500 construction workers generating about $350 million in local spending during the building of the spaceport (Webb, Spaceports Next, 2006, A2). Collins et. al (1995) claimed that if costs per person were in the $10,000-20,000 range, approximately 100 million people in Japan, the U. S. and Europe would be willing outer space tourists (Demand for, 3). The Futron Corporation (2002) analysis. Space Tourism Market Study, decided that by 2021, there couid be 15,000 outer space tourists annually, resuiting in $700 million in revenue (2). Tens of millions of private citizens in the United States want to travel into space, far more if the global market is addressed, Aldrin and Jones (2002) suggested (Changing the, In Hudgins, Space, 180). Spencer and Rugg (2004) predicted {Space Tourism, 56). Edward L. Hudgins, one of the most esteemed individuals involved in outer space activity, concluded that Space tourism indeed seems to be a potential killer application that will offer opportunities and incentives to the private sector to develop low-cost access to space and places in orbit for private adventurers to go (Space, 2002, xxi). It has been concluded that the main barrier to outer space tourism demand is the price point, while the major barrier to supply is start-up cost. With current technology and systems, space flight is too expensive for most people. However, adequately capitalized space tourism firms could begin operations gradually, and over time expand operations to the point where per-person prices would be more affordable. The key to adequate capitalization may well be investor relations, since existing space tourism firms have found it difficult to attract sufficient capital for start-up needs Another expert analysis offered a rather gloomy conclusion, Unfortunately, the present tight payload market and the glut of existing launch vehicles means that any space launch new start-up is doomed to encounter serious difficulty in raising venture capital One thing is certain. The very future of the outer space tourism industry may depend on public relations, including Promotion, Marketing Public Relations, Lobbying, Investor Relations, Coalition-Building, Crisis Communication and Public Information. A ZOOM WITH A VIEW Space tourism may be closer than you think By David Wade TEN YEARS AGO, SPACE TOURISM was the stuff of fantasy. Not anymore. Already three tourists have paid $20m (Â £12m) each to spend a week aboard the International Space Station (ISS), with many more waiting their turn. You dont have a spare $20m? No matter. Other, more modestly priced options are currently in development, but youll have to join the queue of 34,000 other would-be astronauts. Lets assume that money is no object when it comes to booking your own trip into space. Would you really want to just visit the ISS? After all, three tourists have already beaten you to it. How about a vacation that is truly unique? The Russian Space Agency and the Space Adventures travel company recently announced that they could arrange a tourist flight which will circumnavigate the Moon en route to the ISS. The price for the two seats available on this inimitable voyage is $100m (Â £60m) apiece! Better start saving now. WINNING THE PRIZE On 4 October 2004, the 47th anniversary of the launch of Sputnik 1, SpaceShipOne was released at a height of 15km from its White Knight carrier aircraft. 76,000 Newtons of thrust, applied for 84s, then propelled SpaceShipOne to a speed in excess of Mach 3. At an altitude of around 80km, the crafts motor cut out, leaving it to continue, without power, to the apex of its trajectory a height of over 112km. To the astonishment of a watching world, the X-Prize competition had been won. The rules of the X-Prize competition were exacting in the extreme stipulating, among other demands, two 100km-high flights to be completed within a fortnight, a vehicle capable of carrying three people (or at least ballast sufficient to represent three people), and no more than 10% of the dry mass of the vehicle to be replaced between flights. Twenty-six teams registered an initial interest in competing for the prize, with many proposing extremely outlandish designs, including plans to modify fighter aircraft and the use of vertical take-off and landing. In contrast Burt Rutan, the designer of SpaceShipOne, backed by his Scaled Composites team, opted for an approach that was both elegant and simple. Rutans first decision was to go for an airlaunch (from the White Knight carrier aircraft) saving on fuel and dispensing with the need for a launch pad. His second crucial design decision was to use a hybrid rocket motor. THE MASS MARKET The objective of the X-Prize had been to kick-start space tourism following the example of early aviation prizes. The business still has a long way to go, but its on its way. Virgin Galactic, unveiled by Sir Richard Branson, is a service company that will operate a fleet of SpaceShipTwo vehicles, each carrying five fare-paying passengers. The company is already attracting attention, despite the first flight not being scheduled until 2008. So far, over 34,000 people have registered an interest in the $200,000 (Â £120,000) flights, and over $10m (Â £6m) of hard cash has been paid as deposits. Fortunately, the prospects for space tourism do not depend on anyone winning the ASP. The flight of SpaceShipOne and the establishment of Virgin Galactic have opened our eyes to the possibilities of commercial human spaceflight. Consumer demand is now expected to start to drive technological progress as much as competitions, just as it did in the aviation industry. The space tourism business is now firmly into first gear, and will just keep on gathering momentum. David Wade is a Lloyds satellite underwriter and specialist space writer GATEWAYS TO THE STARS worlds first private commercial spaceport in New Mexico Spaceport America will serve clients of Virgin Galactic, who have signed a 20-year lease on the building and have been involved in the design and construction phase. Its astronaut passengers will pay $200,000 a ticket for a threeday event, culminating in a two-hour flight to suborbital space, reaching 110km above the surface at the apogeeTo date, over 450 deposits have been received from people aged from 18 to 80 plus from all over the globe. All have passed medicals; many are wealthy, but not all; and they range from single individuals to whole families. Of Virgins first 100 customers the Founder group 81 have already taken part in centrifuge training that replicates the G-forces expected in flight Commercialization in Space Changing Boundaries and Future Promises ANTHONY L. VELOCCI, JR The concept of private enterprise exploiting space to build and grow thriving business ventures is nothing new. It has been around since 1965. Today, the commercial utilization of space is an essential component of telecommunications, financial markets, and a host of other critical sectors. But now the private sectors involvement in space is fast approaching a new paradigm, courtesy of a growing number of entrepreneurial pioneers, mostly in the United States. They are combining a vision, a can-do spirit and varying degrees of technical knowledge to set the agenda. A few of them-each a high-profile figure in aerospace circles who have a track record of disruptive innovations and self-promotion-have been claiming for a decade that commercial space was on the cusp of a new paradigm, but it never quite materialized. That is about to change, and a new era in commercial space is dawning. This is the decade in which skeptics will witness various firsts in commercial space. The Players That the private sector is pushing the boundaries and are on the threshold of achieving what amounts to a critical mass should come as no surprise to anyone who has been paying close attention. Enabling technologies, such as propulsion and aerodynamics, have made huge advances to the point where they can now be adapted to commercial ventures. The private sector also possesses the know-how developed over decades of collaborating with the government on manned and unmanned systems designed specially for space. Just as the idea of space tourism was unimaginable 50 years ago except to science fiction writers, the evolutionary paths that commercial space could take in the next decade or two might seem equally far-fetched. But the projects currently taking shape are no fantasy. Even the most well-grounded space program veterans agree that space tourism-among other bold new commercial space ventures-is likely to emerge as a niche but growing industry within the next 10 years. Like any nascent field of commerce, space tourism will begin modestly. As it now appears. Virgin Galactic, a spin-off of Richard Bransons Virgin Group, is apt to lead the way. Within the next year or two, a Virgin Galactic Spaceship will be carried alofr underneath a large aircrafr flying high above the ground. After it is released, the unusual looking craft will fall freely to a safe altitude and ignite its rocket engine to transport eight people on a brief excursion to the edge of space. Two of them will be pilots; the other six will be paying customers. In the meantime, scientists and would-be space tourists are taking a short course in suburban Philadelphia to learn what they open for business before the end of the decade. Orbital is collaborating with Russian space agency Roscosmos and Rocket and Space Corp., Energia to develop the Commercial Space Station (CSS), with financing f^rom private investors. The company is working with Vienna-based Space Adventures to market flights to the CSS, with prices comparable to flying tourists to the International Space Station (ISS)-US$50-60 miUion. That is the same price as top-of-the-line business jets, such as the Gulfstream 650 or the Bombardier Global Express. The commercialization of space is a fait accompli, and the thing that will change the whole equation is [space] tourism to low-Earth orbit, with revenue passengers circling our planet for a couple of days experiencing weighdessness and photographing Earth, says futurist Norman R. Augustine. Space Branding The end of the space shuttle era marks a new beginning for the Space Age. A new Generation of entrepreneurs are working with the worlds space agencies to bring down the costs of commercializing the high frontier. By the 2020s and beyond,we could see a historic expansion of human activity in space. The range of new commercial space businesses seems to be expanding almost Exponentially. To date, space tourism has been limited to an elite few. The space tourism company Space Adventures has flown a total of seven commercial passengers to the International Space Station aboard Soyuz spacecraft. This level of exclusivity is about to change. In 2012, Virgin Galactic is scheduled to begin suborbital passenger flights, and Bigelow Aerospace plans to have its orbiting hotel operational that same year. Its anticipated there will be significant growth of commercial space tourism during the coming decade. Futron/Zogby estimates that by 2021 there will be 13,000 suborbital passengers annually, resulting in $650 million in revenue. Many companies are currently working to make commercial space flight a viable industry. But even once the hurdles of developing commercial spacecraft have been overcome, there will still remain many challenges to protecting the health and well-being of paying space travelers. ADVENTURE CAPITALISTS: MEET TUE SPACE BILLIONAIRES Paul Allen, co-founder of Microsoft, founder and chairman of Vulcan Inc., and one of the 50 richest people on Earth. As one of six space billionaires who are fueling a new commercial space revolution, Allen financed the SpaceShipOne spaceplane that won the X Prize. He has helped to fund the Space- ShipTwo development that will carry Virgin Galactic passengers into space in 2013. He is also backing Stratolaunch Systems construction of the worlds largest aircraft, which will be powered by six 747 aircraft engines. This vehicle will carry commercial space launcher systems to very high altitude for launch, thus dramatically lowering the cost of commercial flight to orbit. Sir Richard Branson, the tycoon at the heart of Virgin Ltd. Branson has worked in partnership with Burt Rutan and Paul Allen to create Virgin Galactic. The space adventures enterprise now has 500 passengers signed up to fly on a suborbital flight to an altitude of more than 100 kilometers (about 65 miles) out into space. This high-risk enterprise is designed to accommodate celebrities like Ashton Kutcher and Victoria Principal, as well as anyone with the money (about $200,000 per ticket) and the daring to want to see our planet against the blackness of the cosmos. Four minutes of weightlessness, some citizen astronaut training, and a waiver of all liability comes with the package. Elon Musk, The young billionaire who founded PayPal and then went on to found Tesla Motors and Space X. He developed the Falcon 1 rocket and is now testing the Falcon 9 launch vehicle with its Dragon spacecraft that is designed to fly cargo to the International Space Station (ISS) under contract to NASA as a robotic system. The rocket and the capsule, however, could be upgraded to hold human crews, as well. Musk is also a partner with Allen and Rutan in the Stratolaunch Systems venture. Jeff Bezos, the founder of Amazon.com. His Blue Origin spacecraft company, shrouded in secrecy in rural Texas near the border with New Mexico, is developing launchers that could fly people into space-first on suborbital flights and then to low- Earth orbit. Robert T. Bigelow, the owner of the Budget Suites hotel chain. Bigelow has already launched two private space stations, called Genesis 1 and 2. These orbital stations are based on inflatablesystems technology that was developed but abandoned by NASA. He has plans to launch a private space station in low- Earth orbit that has more inside space than the ISS and could accommodate space tourists who wanted a hotel suite in space, as well as flight experiments. Bigelow has backed a $50 million prize for a private developer who could demonstrate a commercial flight capability to his space station, but his stipulations were sufficiently strict that no one was able to collect the prize.