New Zild

? New Zealand English (NZE) which is now known as â€Å"New Zild† is an exciting and newfangled language they speak in New Zealand. New Zild is forever evolving-forming new, abbreviated ways of speech. Their shared language – Te Reo/English makes up their unique, lucid dialect, which unites them as a country and distinguishes them from the rest of the world, this is a great aspect as their language will be fancied in the future. New Zealand English is the newest most fascinating language in the world today. New Zild is the only language that can be tracked since its birth over two centuries ago. The dialogue is forever evolving, changing and advancing. New Zealand English is a continuously developing speech. What makes this language so exclusive is that you can use available resources to show the developing and unfurling of it. Although characteristic features of New Zealand English have evolved from British English, there are no longer any dominant influences. New Zild forms and illustrates a Kiwi, who creates their own language, being New Zild. Their strong accent is greatly noticed overseas. Foreigners find New Zild bizarre, as they talk faster than, they do. Although New Zealand English is closely related Australian English also known as ‘strine’ but they have their individuality, as New Zealanders do. America has major influence in all the languages, including New Zild. American English is the most influential language of the world. The trends it sets are spread by mass communications around the globe, for example, television, movies and music. American English can have a negative impact depending on the kind of influence being portrayed, for example, teenagers listening to rap music, the lyrics or words expressed may have meaning, but would their parents like them talking like the rapper? American English also has a positive impact on New Zild as it creates new characteristics and majorly influences the development of New Zealand English. The American English greatly affects young New Zealanders as they may speak an even stranger language than their elders. Their speech has been hugely influenced which all contributes to the future. The dialect of the younger population is different, therefore change naturally occurs. New Zealand’s younger generation being teenagers forms many, new colloquialisms, increasing yet decreasing their vocabulary. According to Jennifer Hay in Denis Welch’s Listener article, â€Å"By the time someone is seven or eight, it doesn’t matter where their parents came from, they’re speaking like their friends at school. † Older New Zealanders are trying to adapt to the teenage dialect, after all they are the voices of the future. Their dialogue will be the future New Zealand’s English, as the new vocabulary, colloquialisms work their way from the bottom of the social heap to the top. The tremendous variety of languages composed in New Zealand is another impact. New Zild is an exciting language as it includes an assortment of influences from these solitary vocal influences. Maori have changed the way New Zealanders speak because words and sayings from Te Reo have been absorbed into the vocabulary spoken today. There are some Maori who can speak both English and Maori beautifully. Years ago only 1/1000 Maori words spoken were fully understood in New Zealand English, now 6/1000 Te Reo words spoken are understood in New Zealand English. Could this be renaissance? Including Te Reo, there is also one other contributing factor to New Zealand English, such as Pacific Island dialect. Te Reo and the pacific input combined, greatly influence New Zealanders speech and pronunciation of different words. New Zild is the most innovative, peculiar language. New Zealand English is the only language in the world that can be documented from the beginning which helps predict future dialect. Along with the growing Te Reo pronunciation New Zild is evolving into something that is very interesting and distinctly theirs.

Policy Priority Issue Essay

While most things in life come with an instruction manual, children do not. Parenting is a difficult job. While your child is growing, you must know the best, most up to date resources to assist you in providing the best for him/her. Success by 6 is an initiative to make sure that â€Å"every child in North Central Florida enters school healthy and prepared to learn by the age of 6† (Chun, 2005). It also assists families to be prepared to have a child in school. The greatest challenges facing our country can only be met by focusing on the development of all our children, beginning at birth. Early childhood programs are the most cost-effective way to ensure the healthy development of children in poverty and offer the greatest returns to society. In evidence-based home visiting programs, â€Å"professionals connect families to medical, dental, mental-health, and other support systems† (Daro, D., 2014). The time period from birth through age six is a critical one for â€Å"establishing the solid foundations essential for children’s long-term health, well-being, and learning† (Clothier, S., 2014). Background The Success by 6 was initiated in North Central Florida in 2005. It was initially expected â€Å"to reach 2,500 children with health and developmental screenings, child care provider training, parent education, mentoring, a community center, abuse and neglect prevention, home visitation, program evaluation and family referral programs† (Chun, 2006). This number was reached in its second year and continues to grow annually. As we look to improve and add state policies that lead to good health, learning, and family outcomes, like Success by 6, it is imperative to ensure that policies capitalize on both health and learning.

A comparison and contrast between American and European art Essay

A comparison and contrast between American and European art - Essay Example Allentown Art Museum displays artistic creations from all over the world. The two paintings that caught my attention are "Madonna and child enthroned" by Jacopo Del Casentino and "Mr. Darlington's Still Life" by George Cope."Madonna and child enthroned" is the only known work officially signed by Jacopo Del Casentino. The miniaturist piece was restored in 1992, and has since caused dispute about the date of the artist's work. Some historians date the painting around 1340, whereas recently it has been pushed back to 1325 by historian Miklos Boskovits. Casentino's Madonna and Child Enthroned is featured at the center panel of a miniature tabernacle triptych, which in total measures approximately 39 x 42 inches. Mary and Jesus are surrounded by four angels, as well as Saint Bernard and Saint John the Baptist. This panel measures 18 x 9 inches, and the texture is tempera on poplar wood. The painting both represents Gothic traits and traits that focus on humanism. The hierarchy of the fig ures in the paintings expresses religious symbolism - Mary and Jesus are above all else. Certain other qualities recall the Gothic style that was most often seen in Cimabue and Duccio's paintings. For instance, the Madonna appears larger than anything else in the triptych. Also, the divine halos surrounding the figures and the gold background of the painting are both indicative of the Gothic style. On the other hand, certain characteristics like Mary's protruding knees, drapery, and the symmetry and realistic features of the angels lend themselves to Casentino's interest in humanism. This piece is also reminiscent of Robert Campin's Merode Altarpiece without the humanistic symbolism. The similarity is that Casentino's could act as an altarpiece - the triptych fashioning portrays a continuous narrative where the baby Jesus and the crucified Jesus are shown in the collective piece. Mary also appears twice - once on the throne in the center panel, and then again on the right panel at t he crucifixion, both times wearing the same drapery and red cloth shirt. The background behind the throne as well as in the other panels is very decorative and Gothic. The presence of Saint Bernard and Saint John the Baptist as well as the angels around the throne shows the significance of the enthroned Madonna and Child. The saints are drawn with prayer books in hand, and looking up at Mary and Jesus as the vantage point - the perspective draws to Jesus and the center of Mary's head. (http://yelenasarsblog.blogspot.com/2008/03/jacopo-del-casentinos-madonna-and-child.html) Jacopo del Casentino, also known as Jacopo Landino, was a Florentine painter and miniaturist who lived during the fourteenth century. He was also one of the founders of the Academy of Saint Luke at Florence in 1349, which acted as a guild for painters and miniaturists like himself. Casentino specialized in small devotional altars commissioned for private worship. Along with artists such as Bernardo Daddi, Casentino helped popularize these altars throughout Italy. As with many of his contemporaries, he was influenced by the early master, Giotto (1267 - 1337), who Daddi was an apprentice of. Both Casentino and Daddi showed an influence from the Sienese style of painting in their works. It is noted that Casentino may have been in Giotto's workshop and was a pupil of another Giotto follower, Taddeo Gaddi (1300 - 1366). It has been mentioned that the later Gothic style Casentino painted in was also influenced by the Sienese painters Pietro Lorenzetti (1280 - 1348) and his brother Ambrogio (1290 - 1348). (http://yelenasarsblog.blogspot.com/2008/03/jacopo-del-casentinos-madonna-and-child.html) (http://www.virtualuffizi.com/biography/Jacopo-del-Casentino.htm) George Cope (1855-1929) was an artist who stayed close to home. He began his career painting the lush Brandywine River Valley landscape in Chester County, Pennsylvania, and its wildlife and architecture. He later explored realism in highly detailed

Math IP 5 Essay Example | Topics and Well Written Essays - 750 words

Math IP 5 - Essay Example Answer: 3 Show work in this space. 27 9 =3 9 3 = 3 3 1 = 3 b) Using the formula for the nth term of a geometric sequence, what is the 10th term Answer: 19683 Show work in this space. a10 = a1 rn-1 a10 = (1) (3) 10-1 = (1) (19683) = 19683 c) Using the formula for the sum of a geometric series, what is the sum of the first 10 terms Answer: 29524 Show work in this space. Sn = a1 (1- rn) / 1-r = 1 (1-310) / 1-3 = 1 (1-59049) / -2 = -59048 / -2 = 29524 3) Use the geometric sequence of numbers 1, 1/3, 1/9 , 1/27 to find the following: a) What is r, the ratio between 2 consecutive terms Answer: 1/3 Show work in this space. 1/27 1/9 = 1/3 1/9 1/3 = 1/3 1/3 1 = 1/3 b) Using the formula for the sum of the first n terms of a geometric series, what is the sum of the first 10 terms Carry all calculations to 6 decimals on all assignments. Answer: 1.499976 Show work in this space. Sn = a1 (1- rn) / 1-r = 1 (1-(1/3)10) / 1-1/3 = 1 (1- 1.693508-5) / 2/3 = 1. 49976 c) Using the formula for the sum of the first n terms of a geometric series, what is the sum of the first 12 terms Carry all calculations to 6 decimals on all assignments. Answer: 1.499998 Show work in this space. Sn = a1 (1- rn) / 1-r = 1 (1-1/312) 1-1/3 = 1 (1-1.881676-6) 1-2/3 = 1.499998 d) What observation can make about the successive partial sums of this series In particular, what number does it appear that the sum will always be smaller than Answer: When plotted in a graph, it is expected that the partial sum of the series is a graph which grows flatter over time. This is because the partial sums grow slower over each value. The sum will always be smaller than 3....He rushed over and pulled a young lady out of the flaming truck. Farmer Crane came out and gratefully thanked the traveling salesman for saving his daughter's life. Mr. Crane insisted on giving the man an award for his heroism. So, the salesman said, "If you insist, I do not want much. Get your checkerboard and place one grain of wheat on the first square. Then place two grains of wheat on the next square. Then place four grains on the third square. Continue this until all 64 squares are covered with grains of wheat." As he had just harvested his wheat, Mr. Crane did not consider this much of an award, but he soon realized he made a miscalculation on the amount of wheat involved. c) Calculate the amount of wheat necessary to fill the whole checkerboard (64 squares). How much wheat would the farmer need to give the salesman Please provide the answer in either scientific notation, or calculate and show all 20 digits.

Cuban Missile Crisis - Political Theory Analysis Essay

Cuban Missile Crisis - Political Theory Analysis - Essay Example sed the tension between the US and the Soviet Union increased to an extent that the US Navy ships opening fire and engaging in warning shots as a way of calming down the situation. After the 1945 incident, the US was not ready to permit any nuclear war especially on their ground and it is for this reason that the Kennedy administration decided to play it cool. In October 28, 1962 14 days after the confrontation started, a resolution was reached. The US made a national promise never to attack Cuba secretly and the Cuban administration agreed to dismantle the Soviet Union missiles and ordered them back to USSR base. Moreover, the US decided secretly to dismantle all US built Jupiter IRBMs nuclear weapons that it had deployed in Turkey and Italy in preparation for a war against the Soviet Union. After having summarized this case study, we shall apply specific theories in an attempt to consider the conflict resolution process that may have led to peaceful resolution of the missile crisis considering that this was a very dangerous mission. In this paper, I am going to look at the Cuban missile crisis through the lens of three different theories. The first theory will be about the process approach based on theoretical framework as developed by Zartman and Druckman’s model. The second approach will be the Prospect theory as proposed by Haas and finally the Simple Game theory as developed by Zartman. According to Druckman, international negotiation is a process, which considers various factors such as political affiliations, economic impact, foreign policies and the side effects of the negotiation (Druckman 327). According to Druckman, the process of negotiation begins from a bottom to up process referred to as building a package. Druckman suggest that during the formation... Cuban Missile Crisis has been a subject under serious discussions and studies as many scholars aim at finding out how to apply the principles and theories of conflict resolution that led to the end of a 14-day crisis amongst the world superpowers. From this study, we learned about the process theory, which summarized that conflict resolution is a process that requires negotiation. We considered factors like the mission, aim, strategies, and reference points. We have studied also about the Druckman and Zartman contribution to the Cuban missile crisis. We have also learned about the simple game theory, which is a process that aims at maximizing the outcomes of the negotiations through several considerations. We have also learned about the prospect theory and its application to the Cuban Missile Crisis. The theory is summarized as follows. â€Å"When individuals perceive themselves to be experiencing losses at the time they make a decision, and when their probability estimates associat ed with their principal policy options are in the moderate to high range, they will tend to make excessively risky, non-value-maximizing choices†.

No topic Term Paper Example | Topics and Well Written Essays - 500 words - 1

No topic - Term Paper Example Our hospital provides our patients with 24/7 psychological support. Moreover, there is a perfect opportunity for family members to take part in these meetings and see positive results of our help. In spite of our efforts, there are some complaints from our patients. We clearly realize that they suffer from constant pain and depression and that is why we would like to apologize for making you and your mother worry. We can assure you that we do our best to make our patients feel comfortable in the process of treatment. We can solve this problem together and work in the name of good emotional conditions of our patients. We would like to invite you to visit meetings and trainings, which are free of charge and available for family members of our patients at any convenient time. Programs of support â€Å"Trust me†, â€Å"We hear you†, â€Å"We shall overcome† are available online at www.wakemed. com. You can contact me via email or by cell phone, which I specified on my visit card you have. We are looking forward to cooperation, understanding and help from you. Let’s help your mother live through this difficult period in her life

International business context Essay Example | Topics and Well Written Essays - 4000 words

International business context - Essay Example Most significantly is the fact that mergers have resultant benefits and accrued demerits. As a result, there have been diverse arguments for and against the policy of mergers in the international business. Over the years, the growth of mergers continues to fall. In fact, in 2011 and 2012, there were few mergers, with only four deals hitting the $20 billion mark in 2012. The pro-mergers argue that those global level mega-mergers are inevitable as part of the cycle of consolidation and concentration in globalizing industries where firms seek to gain advantage and accelerate their presence (Deans, Kroeger, & Zeisel 2002, p.1-3). On the other hand, the anti-mergers argue that business leaders should embrace innovativeness and desist from mergers in approaching international business Ghemawat & Ghadar (2000). Indeed, according to AT Kearney, in a span of 25 years, all industries in the globe will consolidate in four stages that include the opening phase, the accumulation, focus, and allia nce stage (Deans, Kroeger, & Zeisel 2002, p.1-2). He notes that the four stages are distinct and derive unique results. He argues that industries follow a similar consolidation pattern although some industries may spend more time in certain stages than others may. Moreover, he states that all industries encounter similar challenges at respective stages. Additionally he argues that the size, location, and type of business does not matter in consolidation but endgames stage matters. An industry starts at a low level of concentration and increases its merger and acquisition activity until it reaches saturation. At this point, alliances form. From the article, we can derive that companies follow a uniform consolidation pattern and consolidation allows companies to get bigger (Deans, Kroeger, & Zeisel 2002, p.1-3). More so, merger decline upon reaching concentration and result to alliances. As such, when companies understand the patterns that mergers follow, and appreciate that their com panies stand on the consolidation curve, then they can initiate successful mergers. Actually, A.T. Kearney’s theory predicts that then dominant players in the industry will gain 60-70% of global market revenues in a merger endgame. This demonstrates the escalating free movement of resources, people, and information over the few years (Deans, Kroeger, & Zeisel 2002, p.1-3). Most importantly, it is worth noting that mergers bear significant benefits to international business despite the process having reasonable risks. As such, the benefits of any merger rely heavily on the marketing strategy in application and therefore not all mergers are successful. Notably, a successful merger that combines two or more companies’ leads to expansion of services and products offered as well as customer base and market shares. Ideally, when companies combine in a buyout strategy, they relevantly share resources and expand their market presence locally and internationally. More so, the m arket expansion and consolidation of resources cuts down operation and business costs (Periasamy 2009, p.11). For example, when a local company mergers with an international company the local company gains international market presence through the networks established by its partner. Indeed, most companies lack international networks and thus to gain international market presence a merger is relevant. More so, the establishment of a merger enables a

Contemporary management Essay Example | Topics and Well Written Essays - 1000 words

Contemporary management - Essay Example So, the level of preference for social media enhanced to a significant extent thereby amplifying its prospects, in the entire world. The similar technique is used by a reputed organization of United States of America named Starbucks so as to increase the level of awareness of its customers and shareholders regarding its strategies and policies (Beall, 2010, pp. 131-133). Starbucks is one of the popular and leading coffee retailers, operating its functions significantly from Seattle of United States of America. After its introduction, very easily it expanded in almost 55 countries that enhanced its brand value and market share to a certain extent. Along with this, it owned almost 17,000 stores in the entire world so as to present world best coffee to its customers at a competitive cost. The prime desire behind such a strategy is to enhance its range of customers thereby amplifying its profitability and sustainability in future era (Hansen, 2012). Apart from this, Starbucks also desired to enhance its reputation and identity by offering high attention over the concept of corporate social responsibility (CSR). This proved extremely effective for the organization in both current and future aspects. In order to enhance the competitive advantage of the organization of Starbucks, its management decided to present the best coffee to its customers. However, to do so, it presented varying types of flavours that enhanced the level of preference of the customers. This became possible only due to the promotion of the flavours of Starbucks through the online sites and social media partners such as face-book, Twitter, linkedIn and many others. As a result of which, the level of awareness of the customers enhanced that improved the profitability of the organization by a significant extent. Thus, this strategy acted positively over

Factors Determining the Information System Strategy for Global Firms Essay

Factors Determining the Information System Strategy for Global Firms - Essay Example ‘Factors determining the information system strategy for global firms’ identifies the strategies and issues that some prominent global enterprises have; classifies which organizational factors affect the decision making process of an organization when it is choosing an is strategy; gains knowledge on the impact of is on global business organizations and their role in tackling the market competition; carefully studies the factors that impact on the failures of is strategies in global business organizations. Numerous factors determine IS strategy, especially organizational characteristics. These are important, especially in terms of attitude, constraints, structure, system characteristics, â€Å"commonality†, size, technology, type, and criticality, IS department characteristics, and IS success factors. Quantitative results show that organizational factors such organizational attitudes and constraints and organizational structure have significant effect on IS strate gy decisions. Similarly, the results show that system characteristics such as â€Å"commonality, size, technology, and criticality† are important and are considered while making IS strategy choice decisions. Moreover, the results of qualitative analysis show that factors such as organizational structure and organizational attitudes and constraints are amongst the important organizational factors that need complete considerations while making IS strategy choices. Furthermore, system characteristics, such as the size of the project and criticality type of technology have been found to be important factors in IS strategy decisions. ... tem characteristics 19 Chapter 3: Research Methodology 21 3.1Research Approach 22 3.2 Positivist Paradigm 22 3.2 Interpretivist Paradigm 23 3.3Quantitative Research 24 3.4 Qualitative Research 25 3.5 Qualitative interview 25 3.6 Data Collection and Analysis 26 3.7 Regression Model 28 3.8 Research Ethics 28 3.9 Case Study Company: Projects System Holding Company 29 3.10 Summary 30 Chapter 4: Results, Analysis, and Discussion 32 4.1 Introduction 33 4.1.2 Regression Analysis 41 4.2 Organizational Characteristics and Is Strategy 46 4.3 System Characteristics and IS Strategy: 47 4.4 Summary of Quantitative Analysis 48 4.5 Qualitative Analysis 48 4.6 Questionnaire Research 50 Chapter 5: Discussion and conclusion 55 5.1 Discussion and Conclusion 56 Many companies are implementing innovative plans while dealing with various challenges that are initiated by globalization, and due to this reason, they started investing in other countries through different plans and strategies by adopting novel systems, tools and techniques for meeting customers’ needs world-wide. But the adoption of information systems (IS) has been one of the main sources to seek help in compensating for and countering the challenges, and thus organizations use various strategies to adopt IS. Previous literature suggests that many factors determine IS strategy such as Organizational characteristics in terms of attitude and constraints and structure, system characteristics, in terms of â€Å"technology, size, type, criticality and commonality, IS department characteristics, and success factors (Akmanligil & Palvia, 2004). However, this study, keeping in view the importance of organizational characteristics and system characteristics and lack of empiricism in the extant literature (Akmanligil & Palvia, 2004), uses

The Courthouse Hotel Essay Example | Topics and Well Written Essays - 1750 words

The Courthouse Hotel - Essay Example At the Courthouse Hotel, individuals in management positions felt that there were no opportunities for further achievement. For this reason, turnover rates at the Courthouse Hotel are high. Turnover in this form is detrimental to the entire morale of the organisation. Staff witness unsatisfied co-workers quitting their jobs because of the assumption that in terms of personal avenues for success, the company is a dead-end. As a consequence, the entire group suffers lack of confidence in the organisation. The Courthouse Hotel has poor retention rates. People resourcing and hiring practises are faulty and disordered. Staff persons are employed on an as-needed basis, which means the hotel uncertainly staffed, insufficiently prepared for business or anticipated business growth. As the current people resourcing practise stands, the hotel will not succeed. Hiring procedures will not meet the needs of a sixty percent growth in trade. In terms of staff already employed by the hotel, these employees show no little satisfaction with their jobs. Employees ponder the improved flexibility and conditions offered by the national and international hotel chains in town. Facing company change, the new business owner should fear leave-taking. Unless assured of their future success with the Courthouse Hotel, the current staff will leave before the fruits of renovations are encountered. The acute fault of peo... II. Recommendations A). Management Strategy Based upon the observed framework of the old hotel and the future needs of the renovated hotel, staff stability must be fortified. Considering the anticipated sixty percent growth of trade, the continuation of present employees is desired for sheer capatown of staff. The strategy suggested to the new owner of the Courthouse Hotel is the Ashridge Mission Model (. This model comes from the Cultural School of Strategic Management, teaching that the organisation must function as a cohesive unit, succeeding internally as well as externally (Mintzberg 2005). The company mission is a strategic tool to provide unity of direction and confidence of staff. The strengths of the Ashridge Mission Model counter the defects of the Courthouse Hotel. Pertaining to Stability of Tenure, the 'Mission' of the model is intended to motivate staff to excellent performance, thereby instilling confidence in their position. Pertaining to Unity of Direction, or the inaccessibility of staff feeling was inaccessible to all staff, the Ashridge model's strength is in its Mission Statement. The Mission Statement "provides a sense of direction" and is intended to "refocus an organisation during crises."(Ashridge) Although reorganisation is not a crisis, the incapatown of the current management to facilitate change while reinforcing staff morale is an acute predicament. The shared values provide unity among employees and improve their Espirit de Corps. The value in using this model to restrategise people resourcing is clear. Employees have reason to lack morale and confidence in their management team, also confidence that they will retain their jobs. The have little motivation to do so.

Federalism and Immigration Essay Example for Free

Federalism and Immigration Essay The term immigration describes the movement and settlement of people who are not US citizens into the United States of America. Throughout history, America has been receiving immigrants from distant lands who come to settle in the United States. As early as the nineteenth century, there were many people from other corners of the world who left their homelands to settle in the US. The reasons for early immigration were, among others, famine, flight from persecution in their homelands and search for better economic opportunities. Thus between 1870 and 1900, the United States received approximately 12 million migrants (Library of Congress 2004). This immigration trend into the United States has continued unabated well into the twenty first century and presently the foreign born population constitutes a significant proportion of the total American population. But of particular concern is the case of illegal immigrants who have infiltrated virtually every corner of the United States. In a 2005 population survey, it was estimated that there were more than 11.1 million illegal immigrants living in the United States and the numbers are steadily increasing with each passing year (Passel, 2006). An uncontrolled influx of immigrants into the US can adversely affect the economy and has invited a negative public opinion from U.S residents. For this reason, the federal government has had to come up with several immigration policies and laws with which to control the immigration process and to curb the influx of illegal immigrants. Although immigration policy is conventionally a realm of the federal government, recently, there have been efforts to include both the state and local governments in the process. This development has been met with different reactions as some people support the idea while others openly question its validity as applied to the constitution. Is the involvement of state and local law enforcement agencies in the enforcement of immigration laws a violation of the U.S constitution? Why the state and local law enforcers are being involved in immigration law enforcement The federal government is probably not to blame for not being able to adequately handle the immigration situation. Apparently it operates a limited force of an estimated 2,000 federal agents.   Yet statistics show that there are more than twelve million immigrants living illegally in the United States and every year, there is an influx averaging 800,000. Some of them, around 450,000, are absconders who have already been issued with a deportation order but have not yet left the country. Some of them have even been found guilty of some deportable crimes but are yet to be deported. Cleary, the federal government has not been able to effectively implement the federal immigration laws across the entire country, simply because it lacks enough manpower. The number of illegal aliens in America far outweighs the force that is meant to control them at the ration of approximately 5,000 to 1. It is for this reason that decisions were made to include the state and local law enforcers in the implementation of immigration laws. This move added an additional 700,000 law enforcers to the immigration police force thereby increasing the capability of the federal government to effectively enforce the immigration laws (Booth, 2006). Legislations supporting the involvement of state and local law enforcers in immigration There are several legislations which have been proposed to facilitate the involvement of the state and local law enforcers in the implementation of immigration laws. In the late twentieth century, the federal government started making subtle efforts to involve state and local governments in immigration. The year 1996 marked a turning point in the involvement of state and local governments in enforcement of immigration laws. During this year, Congress introduced the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) which brought significant changes in state handling of aliens (â€Å"The constitutionality of immigration federalism†, 2005). Through this act, Congress gave the states authority to discriminate against immigrants in public benefits programs by deciding who was eligible and who was not. Since the states are not allowed to classify aliens under the equal protection doctrine, the federal government took measures to devolve immigration decision making authority to the states so that their welfare discrimination would not be viewed as a violation of the constitution but rather, as immigration law making (Wishnie, 2002). The immigration laws of 1996 encouraged the state and local governments to take part in the implementation of immigration laws and authorized them to cooperate with the U.S Immigration and Naturalization Service (INS). Ordinances which had previously prevented the INS and the local agencies from communicating were removed and the states were allowed to deny drivers’ licenses to illegal immigrants. This led to an increase in the number of detained illegal immigrant.In 2001, the September 11 attacks further intensified local government involvement in the enforcement of immigration and in 2002, the U.S Department of Justice declared that in its point of view, the state and local governments possessed an â€Å"inherent authority† to enforce immigration laws (Wishnie, 2002). In 2003, H.R 2671, the Clear Law Enforcement for Criminal Alien Removal Act (CLEAR Act) was introduced by the U.S House of representatives. It stated in part that the State and local law enforcers had the authority to enforce immigration laws and declared that any state with no statute to enable the implementation of federal immigration laws within a two year period after the act had been enacted be denied certain federal incarceration assistance. It also proposed compensation of the State or local authority for the apprehension of illegal immigrants within their jurisdictions as well as the provision of personal liability immunity to personnel who enforced the immigration laws; whether they are from a federal, State or local agency. However, this bill never became law (GovTrack.us, 2003). In November 2003, S.1906, the Homeland Security Enhancement Act (HSEA) was introduced into parliament by the U.S senate. Under the HSEA, all violations of immigration laws committed by immigrants would be criminalized. The act also proposed that the states which did not repeal the policies that hindered their police from enforcing the immigration laws be denied funds from Criminal Alien Assistance Program (SCAAP) so as to induce them to enforce these laws. The SCAAP program reimburses the States any costs that they may have incurred in their incarceration of non US citizens. This Act was met with sharp disagreements with the opponents arguing that it would damage the good relationships that local law enforcers had forged with immigrants in their area even as its proponents felt that its enactment would boost national security (NILC, 2004). In 2005, some legislation pieces similar to the 2003 Clear Act and the 2003 HSEA Act were reintroduced by Congress. Both of these bills asserted that the state and local law enforcement was allowed to aid the federal government in the implementation of immigration laws. It is worth noting that the 2005 CLEAR Act also proposed that the allocation of federal funds to local authorities be made dependent on whether they supported the federal government in the implementation of the immigration laws (Booth, 2006). All these legislations were in an effort to make the state and local governments assume more responsibility in controlling immigration so as to enhance the effectiveness of local law enforcement efforts. Public opinion on immigration and federalism Several studies have revealed that a majority of Americans feel that immigration into the United States is out of hand and would wish for better laws to sustain the influx especially of illegal immigrants. In a recent Rasmussen public opinion poll, it was established that one out of every four U.S citizens was very angry about the current American immigration policy. 28% of those who were interviewed expressed frustration with this policy while 62% expressed the need for a stricter border control. As of August 2008, 74% of Americans felt that the federal government was not doing enough to control the borders (Rasmussen reports, 2008). It is precisely because of these sentiments that Congress introduced the above pieces of legislation. Generally, the devolution of policy making decisions to the state and local governments has received widespread support from the public (Wishnie, 2002). Interestingly however, this particular move has been met with sharp differences in opinion whereby there are those who are in support of the move while others oppose it. Those who are in support of these laws argue that they are essential in order to beef up security especially in the face of recent terrorism attacks among other crimes which are purported to have been committed by aliens. However, those who oppose the move feel that making local law enforcers responsible for the implementation of these laws will overburden them, making them inefficient in other crucial sectors. Others feel that such a move is ill- advised at it will unnecessarily divert the already scarce local resources from the regular law enforcement functions such as the protection of industrial facilities as well as the channels of commerce. There are also sentiments that such a move could erode the relationship that local law enforcers have established with the local immigrant communities, thereby impeding the fight against crime as the aliens, especially the illegal ones, become more apprehensive in coming out with information on various crimes as they are afraid of being deported. But perhaps the most significant argument of all against the devolution of immigrant policy implementation from the federal government to the state and local government is that â€Å"it violates the constitutional principles of federalism by allowing state and local officials to assume distinctly federal roles† (Booth, 2006).

Effect of Brexit on the Financial Markets

Effect of Brexit on the Financial Markets What are financial markets? Financial markets are an open and regulated system where companies can raise large amounts of capital through bonds and stock markets, or offset their risk by investing in commodities, foreign exchange futures contracts or other derivatives. Due to the size of financial markets, they are highly liquid, meaning businesses can easily and quickly generate cash by selling their assets. Since financial markets are public and work under a lot of regulations, there is a lot of information transparency and prices of everything traded reflects this. (Source: â€Å"Six Basic Functions of Financial Markets†, Iowa State University, March 5, 2012.)   What is the European Union and what is Brexit? The European Union, like the name suggests is a political and economic union of 28 countries within Europe. The UK became part of the EU in 1973 and had to pay a membership fee every year The creation of the European union was to firstly bring countries together after the 2nd world war had left many economically and politically disabled or struggling. This economic cooperation would become the world’s biggest single market and it still is today. (European Union European Commission, 2017) Even though the UK has benefited a lot from being in a single market, there were many who thought that Britain would be better off on its own; and for this reason the government decided to have a referendum after which on the 23 of June 2016, Britain exited the Single market, giving back it’s seat in the European Parliament and all the benefits that came with it. How can financial markets affect economic performance? Demirgà ¼Ãƒ §-Kunt and Levine in their 2001 book, ‘Financial Structure and Economic Growth’ said there is a strong connection between financial markets development and economic growth. The way in which this happens is that a well-functioning financial market will efficiently direct the flow of savings and investments in an economy as such to enable businesses to accumulate capital and goods and services to be produced. A well-established financial market alongside a wide range of financial products will benefit borrowers and lenders and therefore the economy as a whole. Another benefit of an efficient financial market is that by providing a range of financial options at varying risk levels and pricing structures, borrowers and lenders can be closely matched for their individual needs. This allows investors to determine and calculate their cost of financing by looking at their returns on their investments and then choosing the best financing and investment choice for their requirements. The European Union created a single banking market with a single currency and therefore created Europe-wide financial markets which made investing and borrowing euro-denominated stocks, bonds and derivatives easy for all EU countries that are part of the Euro by eliminating exchange rate risks. By doing so, products and services that were previously only available on a country by country basis were now available to a wider market, creating better competition which in turn makes markets more efficient and prices lower for individuals.   This is called the ‘Single-Passport’ system, whereby any business set up in one-member state may provide its services to the rest without further authorisation requirements (European Commission 2016) Not only does euro-based financial markets benefit the Eurozone, it also attracts international investors to invest here and benefit from the competitive market, (Mishkin, 2012) and by being part of the ‘single-passport, Non-European companies can set up their head office in London, and have access to all the benefits of the Single Market. UK financial market relationship with the EU Professor Nick Bloom of Stanford University said: â€Å"The single European market increased competition and forced British firms to increase the level of innovation.† London is one of the biggest financial hubs of the world and hosts the largest number of banks and commercial insurance companies. According to (Belke A. et all) around 6 trillion euros, which is equivalent to 37% of Europe’s financial assets are managed in London, which is twice the amount of the nearest rival Paris. London also dominates Europe’s 5.2 trillion-euro investment banking industry. What this means is that major investments happing in some of Europe’s biggest cities are financed by companies operating within London. This is why, (Mark Carney, Governor of the Bank of England), said: â€Å"Europe relies heavily on London’s debt and equity markets.† When it comes to foreign exchange markets, the UK is way ahead of its European counterparts with an impressive almost 40% share of the worlds foreign exchange and derivatives handling. According to the (City of London Corporation) each year, $869 trillion worth of Euro, Yen and Dollars are traded from London. This is higher than all the Euro-Zone countries combined. https://www.reuters.com/investigates/special-report/britain-europe-cost/ London currently accounts for 70% of the Euro Sovereign debt trades, meaning that the EU countries cannot shut outlondons capital markets as this would be suicide. (Rueters) According to Reuters (Kai Pfaffenbach) Frankfurt is desperately trying win over businesses to relocate to their city from London. To help in this, the European Central Bank started the â€Å"Capital Markets Union† project in 2015, where they want Euro-zone financial markets to provide improved fund raising for companies by replicating Britain’s financial services and become more efficient in the stocks, bonds and other securities markets. How Brexit is affecting Financial Markets: https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7The question of how Brexit will affect the UK economy is very uncertain. The sterling fell to a 31 year low, stock markets fell and foreign direct investment has frozen. All these things point towards the short-term impact of Brexit to be very serious. The real question is, what will the long term effects be, and how will markets react to cope with such uncertainty about the future. The institutional framework of the EU and the euro has created dependencies amongst countries. For this reason, Brexit will have affects in not just UK financial markets, but financial markets across the globe. According to (Gordon and Shapiro 1956) the dividend discount model, expectations about future effects on financial markets will have an effect on stocks and other financial variables now. From the graph above, we can see that when the news of Brexit was announced and the UK markets became uncertain about the UK’s future in the single market, the pound fell to its lowest price in 31 years. Because of Brexit and Policy uncertainty, markets adopt a ‘wait-and-see’ attitude towards investment decisions.   If London is no longer part of the single market, it loses its attractiveness as a foreign direct investment hub and a gateway to the European financial markets. According to the financial times, almost half of the FDI coming to the UK comes from the EU and after Brexit, this investment will significantly decrease due to increased trade costs and tariffs. The Office of National Statistics (ONS) tells us that FDI has been about 5% of UK GDP between 1999 and 2015. The analysis from the financial times estimates the decrease in FDI would be 22%. The impact of Brexit on the UK financial sector can be broken down in to 3 things: What agreement can the UK make with the EU in its post-Brexit negotiations. The extent to which financial sector businesses move their operations from the UK to a Eurozone country before any negotiation agreements are made.How well the UK financial sector can survive based on its global position and relationship. Until a deal is made with the EU, we cannot predict how the market will end up like, but we can hypothesise certain outcomes like the following: Currently, the UK is still part of the EU, and hence has passporting rights. Once these rights are gone, UK firms will have to have state level authorisations from EU countries to perform activities. This will depend upon whether the regulators in those countries will allow UK financial markets to sill operate within their borders. The best outcome would be if the UK retains their passporting rights through either a negotiation or remaining a part of the EEA. Johnathon ford writes in the financial times that another option that UK based companies may have is to open up subsidiaries in different EU countries, that way giving them access to customers within those markets. This is however costly and inefficient. Alternatively, UK firms could take advantage of Third Country Regime (TCR) access provisions. What this means is that companies that were incorporated outside the EU can still do business on a cross-border basis if they wish to do so without having an establishment within that EU country, however EU law will require that the regulations and legal structure they follow complies with EU. Reuters business news tells us that Standard Chartered (Stan.L) and JPMorgan (JPM.N) were the latest global banks that have outlined plans for European operations after Brexit. Goldman Sachs Lloyd Blankfein said that â€Å"London’s growth as a financial centre could stall as a result of upheaval caused by Brexit.† So, because of Brexit and the uncertainty of what the future holds for UK’s financial markets; UK based financial firms especially those in London are looking to move their operations into the EU market to benefit from the single market. Another financial market area that will be affected by Brexit is that of selling of derivatives for companies to buy protection or lower their risk portfolio against changes the US dollar and or spikes in the price of oil. As a result of tighter financial regulations on banks, some will opt out of providing this service and those who do will offer a smaller variety of products at a higher price. Ultimately, this is bad for markets as they are not getting the best deal they can. London also dominates the euro derivatives market. EU policymakers have not liked this for a while and want to shift this to a Eurozone country after Brexit. This will in turn increase the price of trading for corporations that deal in multiple currencies as they will have to go through several clearing houses. Bankers are unsure how much extra it will cost a European company to borrow without direct access to London, however, the association for financial markets said customers are being overly optimistic if they think that lending agents will bear the burden or grunt of this. They will push the increased cost of borrowing onto the consumer, which will ultimately make them less competitive in the market. Ernst and Young say in their research paper that they surveyed major corporates including Airbus and Volkswagen and found that these companies were really worried about rising costs of funding as a result of Brexit. London has dominated the financial centre for decades and has built its reputation on the service it provides. It would be very difficult to replicate this market. This has been due to its vast talent pool, widespread use of the English language and the UK legal system and the vast amount of money going through the UK through these financial markets. Another great strength of the UK is its over-the-counter derivatives market. Corporations often use swaps to protect themselves against adverse interest rates and currency moves. Over-the-counter derivatives have to go through clearing houses who are sort of the middle man who make sure neither party defaults on their payments. Even though the UK is not part of the Euro single currency, it still manages  ¾ of all euro-denominated swaps. As the UK decides to leave the EU, this creates a problem, because now most of these swaps won’t be clearing through the bloc. Germany and France have already said that they want the euro-denominated derivatives to be cleat=red through the EU; however LSE has argued that doing so would cost London thousands of jobs. According to a private report by EY, this estimate loss of jobs could be around 83,000 by 2024. The EU needs London’s money, says Mark Carney, governor of the Bank of England. He calls Britain â€Å"Europe’s investment banker† and says half of all the debt and equity issued by the EU involves financial institutions in Britain. What impact would Brexit have on the way in which banks are regulated in the UK? There are three pillars in the UK banking regulations: The capital requirements directive IV and the capital requirements regulation.The banking act of 2009 Bank Resolution and Recovery Directive (BRRD) Since the BRRD and CRD IV were EU legislations, the UK has to decide after Brexit how much they want to keep. CRD IV implements the requirements of Basel III, which the UK would still be committed to after Brexit. Brexit will likely have an effect on the legislation application of the EEA branches and subsidiaries. What  Ã‚  impact would Brexit have on the UK insurance industry? The London market currently has access to over 500 million customers through the EU and a substantial amount of insurance and reinsurance is distributed into and out of the UK. For the UK to continue to have access to these customers, they have to negotiate bilateral treaties to ensure member states allow them passport into the EU. The prudential regulation authority (PRA) has been very involved in negotiating the solvency II directive which was based on the risk-based regime of the UK. What  Ã‚  impact would Brexit have on the UK funds industry? Currently most UK based fund managers already use Irish or Luxembourg UCITS and alternative investment funds (AIF) platforms for Pan-European distribution of funds therefore Brexit will likely not have much effect on this sector of the financial market. The problem the UK asset management industry will face is the risk of changes to rules enabling MIFID investment firms, AIFMS and UCITS management firms to choose UK based investment managers. Currently, the administration is deemed sufficient for EU firms to contract asset management jobs to the UK managers. Another drawback may be that EU member states may put obstacles in front in the form of tax regimes that make it less attractive for EU firms to hire UK investment managers. Corporate tax: The EU previously set the legal requirements for corporate tax in the UK. Since we will no longer be a part of the EU, these regulations will be revised by HMRC and new draft regulations will be put in place. Currently businesses that have offices within and outside the UK enjoy a 0% rate of withholding tax. This may no longer be the case and companies will look for ways to save themselves from varying taxations in different countries, or changing their place of business to protect themselves from higher or double taxation. VAT VAT was a European Union Concept and now that the UK government is responsible for this, they may decide to change the rates at which this is charged or what products VAT will be charged on. Accounting law At the moment, there is a significant EU accounting and company law legislations that may come under review after Brexit. These include, directive 2013/34/EU about annual financial statements, consolidated financial statements and reports. Directive 2009/101/EC about the disclosure of company documents and company obligations. Directive 2012/30/EU on the formation of public limited companies. Directive 89/666/EEC on disclosure requirements for foreign branches of companies. Global Impact of Brexit There is no roadmap to follow or analogy to invoke as a guide or pattern for how the Brexit vote will reverberate in the months and years to come. However, a few immediate consequences seem highly likely: †¢Ã‚  The flight to safety away from the epicenter of this British-EU divorce will push capital away from the region and toward key safe-haven markets including the U.S.—especially Treasuries—and to Japan. This will further lower market interest rates and raise relative currency values. †¢Ã‚  A higher U.S. dollar and Japanese yen are negative to both economies’ export sectors. In the case of Japan, this is particularly unhelpful to its efforts to reinflate and reinvigorate the economy after decades of deflation. †¢Ã‚  The higher U.S. dollar also triggers additional pressure on China to float the yuan lower, as it is caught in the divergence between its two largest export markets—the EU and the U.S.. †¢Ã‚  For the U.S., the negative impact on exports is relatively small compared with trends in domestic demand, but the deflationary pressure on tradable goods will widen the divergence between reasonably strong inflation in the services sector vs. reasonably strong deflation in the goods sector. †¢Ã‚  The European Central Bank will be compelled to raise its level of intervention yet again, as risk premiums across the region rise. Among the larger Eurozone members, Italy is in a particularly vulnerable position—now made more vulnerable. Each blow to members of the Eurozone periphery also further make Germany’s outperformance in the Eurozone even more unsustainable. The nature of the UK’s eventual exit agreement with the EU is crucial, and hangs over a multitude of markets. CEP BREXIT ANALYSIS Life after Brexit: What are the UK’s options outside the European Union? It is highly uncertain what the UK’s future would look like outside the European Union (EU), which makes ‘Brexit’ a leap into the unknown. This report reviews the advantages and drawbacks of the most likely options. After Brexit, the EU would continue to be the world’s largest market and the UK’s biggest trading partner. A key question is what would happen to the three million EU citizens living in the UK and the two million UK citizens living in the EU? There are economic benefits from European integration, but obtaining these benefits comes at the political cost of giving up some sovereignty. Inside or outside the EU, this trade-off is inescapable. One option is ‘doing a Norway’ and joining the European Economic Area. This would minimise the trade costs of Brexit, but it would mean paying about 83% as much into the EU budget as the UK currently does. It would also require keeping current EU regulations (without having a seat at the tab le when the rules are decided). Another option is ‘doing a Switzerland’ and negotiating bilateral deals with the EU. Switzerland still faces regulation without representation and pays about 40% as much as the UK to be part of the single market in goods. But the Swiss have no agreement with the EU on free trade in services, an area where the UK is a major exporter. A further option is going it alone as a member of the World Trade Organization. This would give the UK more sovereignty at the price of less trade and a bigger fall in income, even if the UK were to abolish tariffs completely. Brexit would allow the UK to negotiate its own trade deals with non-EU countries. But as a small country, the UK would have less bargaining power than the EU. Canada’s trade deals with the United States show that losing this bargaining power could be costly for the UK. To make an informed decision on the merits of leaving the EU, voters need to know more about what the UK governme nt would do following Brexit. This is the first in a series of briefings analysing the economic costs and benefits of Brexit for the UK. Economists for Brexit: A Critique Professor Patrick Minford, one of the ‘Economists for Brexit’, argues that leaving the European Union (EU) will raise the UK’s welfare by 4% as a result of increased trade. His policy recommendation is that following a vote for Brexit, the UK should strike no new trade deals but instead unilaterally abolish all its import tariffs. Under this policy (‘Britain Alone’), he describes his model as predicting the ‘elimination’ of UK manufacturing and a big increase in wage inequality. These outcomes may be hard to sell to UK citizens as a desirable political option. Our analysis of the ‘Britain Alone’ policy predicts a 2.3% loss of welfare compared with staying in the EU. This is only 0.3 percentage points better than Brexit without unilaterally abolishing tariffs which would result in a 2.6% welfare loss. Minford’s results stem from assuming that small changes in trade costs have tremendously large effects on trade volumes: according to his model, the falls in tariffs become enormously magnified because each country purchases only from the lowest cost supplier. In reality, everyone does not simply buy from the cheapest supplier. Products are different when made by different countries and trade is affected by the distance between countries, their size, history and wealth (the ‘gravity relationship’). Trade costs are not just government-created trade barriers. Product differentiation and gravity is incorporated into modern trade models – these predict that after Brexit the UK will continue to trade more with the EU than other countries as it remains our geographically closest neighbour. Consequently, we will be worse off because we will face higher trade costs with the EU. Minford’s assumption that goods prices would fall by 10% comes from attributing all producer price differences between the EU and low-cost countries to EU trade barriers, ignoring differences in quality. Sin gle Market rules (for example, over product safety) facilitate trade between EU members as it creates a level playing field. Minford’s assumption that the Single Market merely diverts trade from non-EU countries is contradicted by the empirical evidence. Minford also overlooks the loss in services trade that would result from leaving the Single Market, such as ‘passporting’ privileges in financial services. Minford’s approach of ignoring empirical analysis of trade data seems predicated on the view that because statistical analysis is imperfect, it should all be completely ignored. But such statistical biases may reinforce rather than weaken the case for remaining in the EU. Theories need grounding in facts, not ideology. Bibliography https://fullfact.org/europe/our-eu-membership-fee-55-million/https://www.reuters.com/investigates/special-report/britain-europe-cost/https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7https://www.ft.com/content/61221dd4-d8c4-11e6-944b-e7eb37a6aa8e?mhq5j=e5http://www.nortonrosefulbright.com/knowledge/publications/115128/mifid-ii-mifir-serieshttp://uk.reuters.com/article/uk-britain-eu-banks/banks-planning-to-move-9000-jobs-from-britain-because-of-brexit-idUKKBN184132http://www.ey.com/Publication/vwLUAssets/ey-uk-eu-planning-for-uncertainty/$File/ey-uk-eu-planning-for-uncertainty.pdfhttps://www.reuters.com/investigates/special-report/britain-europe-cost/https://www.accountingweb.com/community/blogs/geoff-collings/the-effect-of-brexit-on-uk-accountinghttps://www.accountancyage.com/2016/07/21/what-brexit-means-for-accounting-employment-and-taxation-law/ http://www.europarl.europa.eu/RegData/etudes/BRIE/2016/587384/IPOL_BRI(2016)587384_EN.pdfhttps://www.ceps.eu/system/files/WD% 20429%20AB%20et%20al%20Brexit%20Applied%20Economics.pdfhttp://www.frbsf.org/education/publications/doctor-econ/2005/january/financial-markets-economic-performance/https://www.ft.com/content/74708d46-c6ca-11e6-8f29-9445cac8966f Mishkin, F. (2012).  Introduction to Financial Markets. [online] Www2.econ.iastate.edu. Available at: http://www2.econ.iastate.edu/tesfatsi/finintro.htm#FMI [Accessed 10 Sep. 2017]. Effect of Brexit on the Financial Markets Effect of Brexit on the Financial Markets What are financial markets? Financial markets are an open and regulated system where companies can raise large amounts of capital through bonds and stock markets, or offset their risk by investing in commodities, foreign exchange futures contracts or other derivatives. Due to the size of financial markets, they are highly liquid, meaning businesses can easily and quickly generate cash by selling their assets. Since financial markets are public and work under a lot of regulations, there is a lot of information transparency and prices of everything traded reflects this. (Source: â€Å"Six Basic Functions of Financial Markets†, Iowa State University, March 5, 2012.)   What is the European Union and what is Brexit? The European Union, like the name suggests is a political and economic union of 28 countries within Europe. The UK became part of the EU in 1973 and had to pay a membership fee every year The creation of the European union was to firstly bring countries together after the 2nd world war had left many economically and politically disabled or struggling. This economic cooperation would become the world’s biggest single market and it still is today. (European Union European Commission, 2017) Even though the UK has benefited a lot from being in a single market, there were many who thought that Britain would be better off on its own; and for this reason the government decided to have a referendum after which on the 23 of June 2016, Britain exited the Single market, giving back it’s seat in the European Parliament and all the benefits that came with it. How can financial markets affect economic performance? Demirgà ¼Ãƒ §-Kunt and Levine in their 2001 book, ‘Financial Structure and Economic Growth’ said there is a strong connection between financial markets development and economic growth. The way in which this happens is that a well-functioning financial market will efficiently direct the flow of savings and investments in an economy as such to enable businesses to accumulate capital and goods and services to be produced. A well-established financial market alongside a wide range of financial products will benefit borrowers and lenders and therefore the economy as a whole. Another benefit of an efficient financial market is that by providing a range of financial options at varying risk levels and pricing structures, borrowers and lenders can be closely matched for their individual needs. This allows investors to determine and calculate their cost of financing by looking at their returns on their investments and then choosing the best financing and investment choice for their requirements. The European Union created a single banking market with a single currency and therefore created Europe-wide financial markets which made investing and borrowing euro-denominated stocks, bonds and derivatives easy for all EU countries that are part of the Euro by eliminating exchange rate risks. By doing so, products and services that were previously only available on a country by country basis were now available to a wider market, creating better competition which in turn makes markets more efficient and prices lower for individuals.   This is called the ‘Single-Passport’ system, whereby any business set up in one-member state may provide its services to the rest without further authorisation requirements (European Commission 2016) Not only does euro-based financial markets benefit the Eurozone, it also attracts international investors to invest here and benefit from the competitive market, (Mishkin, 2012) and by being part of the ‘single-passport, Non-European companies can set up their head office in London, and have access to all the benefits of the Single Market. UK financial market relationship with the EU Professor Nick Bloom of Stanford University said: â€Å"The single European market increased competition and forced British firms to increase the level of innovation.† London is one of the biggest financial hubs of the world and hosts the largest number of banks and commercial insurance companies. According to (Belke A. et all) around 6 trillion euros, which is equivalent to 37% of Europe’s financial assets are managed in London, which is twice the amount of the nearest rival Paris. London also dominates Europe’s 5.2 trillion-euro investment banking industry. What this means is that major investments happing in some of Europe’s biggest cities are financed by companies operating within London. This is why, (Mark Carney, Governor of the Bank of England), said: â€Å"Europe relies heavily on London’s debt and equity markets.† When it comes to foreign exchange markets, the UK is way ahead of its European counterparts with an impressive almost 40% share of the worlds foreign exchange and derivatives handling. According to the (City of London Corporation) each year, $869 trillion worth of Euro, Yen and Dollars are traded from London. This is higher than all the Euro-Zone countries combined. https://www.reuters.com/investigates/special-report/britain-europe-cost/ London currently accounts for 70% of the Euro Sovereign debt trades, meaning that the EU countries cannot shut outlondons capital markets as this would be suicide. (Rueters) According to Reuters (Kai Pfaffenbach) Frankfurt is desperately trying win over businesses to relocate to their city from London. To help in this, the European Central Bank started the â€Å"Capital Markets Union† project in 2015, where they want Euro-zone financial markets to provide improved fund raising for companies by replicating Britain’s financial services and become more efficient in the stocks, bonds and other securities markets. How Brexit is affecting Financial Markets: https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7The question of how Brexit will affect the UK economy is very uncertain. The sterling fell to a 31 year low, stock markets fell and foreign direct investment has frozen. All these things point towards the short-term impact of Brexit to be very serious. The real question is, what will the long term effects be, and how will markets react to cope with such uncertainty about the future. The institutional framework of the EU and the euro has created dependencies amongst countries. For this reason, Brexit will have affects in not just UK financial markets, but financial markets across the globe. According to (Gordon and Shapiro 1956) the dividend discount model, expectations about future effects on financial markets will have an effect on stocks and other financial variables now. From the graph above, we can see that when the news of Brexit was announced and the UK markets became uncertain about the UK’s future in the single market, the pound fell to its lowest price in 31 years. Because of Brexit and Policy uncertainty, markets adopt a ‘wait-and-see’ attitude towards investment decisions.   If London is no longer part of the single market, it loses its attractiveness as a foreign direct investment hub and a gateway to the European financial markets. According to the financial times, almost half of the FDI coming to the UK comes from the EU and after Brexit, this investment will significantly decrease due to increased trade costs and tariffs. The Office of National Statistics (ONS) tells us that FDI has been about 5% of UK GDP between 1999 and 2015. The analysis from the financial times estimates the decrease in FDI would be 22%. The impact of Brexit on the UK financial sector can be broken down in to 3 things: What agreement can the UK make with the EU in its post-Brexit negotiations. The extent to which financial sector businesses move their operations from the UK to a Eurozone country before any negotiation agreements are made.How well the UK financial sector can survive based on its global position and relationship. Until a deal is made with the EU, we cannot predict how the market will end up like, but we can hypothesise certain outcomes like the following: Currently, the UK is still part of the EU, and hence has passporting rights. Once these rights are gone, UK firms will have to have state level authorisations from EU countries to perform activities. This will depend upon whether the regulators in those countries will allow UK financial markets to sill operate within their borders. The best outcome would be if the UK retains their passporting rights through either a negotiation or remaining a part of the EEA. Johnathon ford writes in the financial times that another option that UK based companies may have is to open up subsidiaries in different EU countries, that way giving them access to customers within those markets. This is however costly and inefficient. Alternatively, UK firms could take advantage of Third Country Regime (TCR) access provisions. What this means is that companies that were incorporated outside the EU can still do business on a cross-border basis if they wish to do so without having an establishment within that EU country, however EU law will require that the regulations and legal structure they follow complies with EU. Reuters business news tells us that Standard Chartered (Stan.L) and JPMorgan (JPM.N) were the latest global banks that have outlined plans for European operations after Brexit. Goldman Sachs Lloyd Blankfein said that â€Å"London’s growth as a financial centre could stall as a result of upheaval caused by Brexit.† So, because of Brexit and the uncertainty of what the future holds for UK’s financial markets; UK based financial firms especially those in London are looking to move their operations into the EU market to benefit from the single market. Another financial market area that will be affected by Brexit is that of selling of derivatives for companies to buy protection or lower their risk portfolio against changes the US dollar and or spikes in the price of oil. As a result of tighter financial regulations on banks, some will opt out of providing this service and those who do will offer a smaller variety of products at a higher price. Ultimately, this is bad for markets as they are not getting the best deal they can. London also dominates the euro derivatives market. EU policymakers have not liked this for a while and want to shift this to a Eurozone country after Brexit. This will in turn increase the price of trading for corporations that deal in multiple currencies as they will have to go through several clearing houses. Bankers are unsure how much extra it will cost a European company to borrow without direct access to London, however, the association for financial markets said customers are being overly optimistic if they think that lending agents will bear the burden or grunt of this. They will push the increased cost of borrowing onto the consumer, which will ultimately make them less competitive in the market. Ernst and Young say in their research paper that they surveyed major corporates including Airbus and Volkswagen and found that these companies were really worried about rising costs of funding as a result of Brexit. London has dominated the financial centre for decades and has built its reputation on the service it provides. It would be very difficult to replicate this market. This has been due to its vast talent pool, widespread use of the English language and the UK legal system and the vast amount of money going through the UK through these financial markets. Another great strength of the UK is its over-the-counter derivatives market. Corporations often use swaps to protect themselves against adverse interest rates and currency moves. Over-the-counter derivatives have to go through clearing houses who are sort of the middle man who make sure neither party defaults on their payments. Even though the UK is not part of the Euro single currency, it still manages  ¾ of all euro-denominated swaps. As the UK decides to leave the EU, this creates a problem, because now most of these swaps won’t be clearing through the bloc. Germany and France have already said that they want the euro-denominated derivatives to be cleat=red through the EU; however LSE has argued that doing so would cost London thousands of jobs. According to a private report by EY, this estimate loss of jobs could be around 83,000 by 2024. The EU needs London’s money, says Mark Carney, governor of the Bank of England. He calls Britain â€Å"Europe’s investment banker† and says half of all the debt and equity issued by the EU involves financial institutions in Britain. What impact would Brexit have on the way in which banks are regulated in the UK? There are three pillars in the UK banking regulations: The capital requirements directive IV and the capital requirements regulation.The banking act of 2009 Bank Resolution and Recovery Directive (BRRD) Since the BRRD and CRD IV were EU legislations, the UK has to decide after Brexit how much they want to keep. CRD IV implements the requirements of Basel III, which the UK would still be committed to after Brexit. Brexit will likely have an effect on the legislation application of the EEA branches and subsidiaries. What  Ã‚  impact would Brexit have on the UK insurance industry? The London market currently has access to over 500 million customers through the EU and a substantial amount of insurance and reinsurance is distributed into and out of the UK. For the UK to continue to have access to these customers, they have to negotiate bilateral treaties to ensure member states allow them passport into the EU. The prudential regulation authority (PRA) has been very involved in negotiating the solvency II directive which was based on the risk-based regime of the UK. What  Ã‚  impact would Brexit have on the UK funds industry? Currently most UK based fund managers already use Irish or Luxembourg UCITS and alternative investment funds (AIF) platforms for Pan-European distribution of funds therefore Brexit will likely not have much effect on this sector of the financial market. The problem the UK asset management industry will face is the risk of changes to rules enabling MIFID investment firms, AIFMS and UCITS management firms to choose UK based investment managers. Currently, the administration is deemed sufficient for EU firms to contract asset management jobs to the UK managers. Another drawback may be that EU member states may put obstacles in front in the form of tax regimes that make it less attractive for EU firms to hire UK investment managers. Corporate tax: The EU previously set the legal requirements for corporate tax in the UK. Since we will no longer be a part of the EU, these regulations will be revised by HMRC and new draft regulations will be put in place. Currently businesses that have offices within and outside the UK enjoy a 0% rate of withholding tax. This may no longer be the case and companies will look for ways to save themselves from varying taxations in different countries, or changing their place of business to protect themselves from higher or double taxation. VAT VAT was a European Union Concept and now that the UK government is responsible for this, they may decide to change the rates at which this is charged or what products VAT will be charged on. Accounting law At the moment, there is a significant EU accounting and company law legislations that may come under review after Brexit. These include, directive 2013/34/EU about annual financial statements, consolidated financial statements and reports. Directive 2009/101/EC about the disclosure of company documents and company obligations. Directive 2012/30/EU on the formation of public limited companies. Directive 89/666/EEC on disclosure requirements for foreign branches of companies. Global Impact of Brexit There is no roadmap to follow or analogy to invoke as a guide or pattern for how the Brexit vote will reverberate in the months and years to come. However, a few immediate consequences seem highly likely: †¢Ã‚  The flight to safety away from the epicenter of this British-EU divorce will push capital away from the region and toward key safe-haven markets including the U.S.—especially Treasuries—and to Japan. This will further lower market interest rates and raise relative currency values. †¢Ã‚  A higher U.S. dollar and Japanese yen are negative to both economies’ export sectors. In the case of Japan, this is particularly unhelpful to its efforts to reinflate and reinvigorate the economy after decades of deflation. †¢Ã‚  The higher U.S. dollar also triggers additional pressure on China to float the yuan lower, as it is caught in the divergence between its two largest export markets—the EU and the U.S.. †¢Ã‚  For the U.S., the negative impact on exports is relatively small compared with trends in domestic demand, but the deflationary pressure on tradable goods will widen the divergence between reasonably strong inflation in the services sector vs. reasonably strong deflation in the goods sector. †¢Ã‚  The European Central Bank will be compelled to raise its level of intervention yet again, as risk premiums across the region rise. Among the larger Eurozone members, Italy is in a particularly vulnerable position—now made more vulnerable. Each blow to members of the Eurozone periphery also further make Germany’s outperformance in the Eurozone even more unsustainable. The nature of the UK’s eventual exit agreement with the EU is crucial, and hangs over a multitude of markets. CEP BREXIT ANALYSIS Life after Brexit: What are the UK’s options outside the European Union? It is highly uncertain what the UK’s future would look like outside the European Union (EU), which makes ‘Brexit’ a leap into the unknown. This report reviews the advantages and drawbacks of the most likely options. After Brexit, the EU would continue to be the world’s largest market and the UK’s biggest trading partner. A key question is what would happen to the three million EU citizens living in the UK and the two million UK citizens living in the EU? There are economic benefits from European integration, but obtaining these benefits comes at the political cost of giving up some sovereignty. Inside or outside the EU, this trade-off is inescapable. One option is ‘doing a Norway’ and joining the European Economic Area. This would minimise the trade costs of Brexit, but it would mean paying about 83% as much into the EU budget as the UK currently does. It would also require keeping current EU regulations (without having a seat at the tab le when the rules are decided). Another option is ‘doing a Switzerland’ and negotiating bilateral deals with the EU. Switzerland still faces regulation without representation and pays about 40% as much as the UK to be part of the single market in goods. But the Swiss have no agreement with the EU on free trade in services, an area where the UK is a major exporter. A further option is going it alone as a member of the World Trade Organization. This would give the UK more sovereignty at the price of less trade and a bigger fall in income, even if the UK were to abolish tariffs completely. Brexit would allow the UK to negotiate its own trade deals with non-EU countries. But as a small country, the UK would have less bargaining power than the EU. Canada’s trade deals with the United States show that losing this bargaining power could be costly for the UK. To make an informed decision on the merits of leaving the EU, voters need to know more about what the UK governme nt would do following Brexit. This is the first in a series of briefings analysing the economic costs and benefits of Brexit for the UK. Economists for Brexit: A Critique Professor Patrick Minford, one of the ‘Economists for Brexit’, argues that leaving the European Union (EU) will raise the UK’s welfare by 4% as a result of increased trade. His policy recommendation is that following a vote for Brexit, the UK should strike no new trade deals but instead unilaterally abolish all its import tariffs. Under this policy (‘Britain Alone’), he describes his model as predicting the ‘elimination’ of UK manufacturing and a big increase in wage inequality. These outcomes may be hard to sell to UK citizens as a desirable political option. Our analysis of the ‘Britain Alone’ policy predicts a 2.3% loss of welfare compared with staying in the EU. This is only 0.3 percentage points better than Brexit without unilaterally abolishing tariffs which would result in a 2.6% welfare loss. Minford’s results stem from assuming that small changes in trade costs have tremendously large effects on trade volumes: according to his model, the falls in tariffs become enormously magnified because each country purchases only from the lowest cost supplier. In reality, everyone does not simply buy from the cheapest supplier. Products are different when made by different countries and trade is affected by the distance between countries, their size, history and wealth (the ‘gravity relationship’). Trade costs are not just government-created trade barriers. Product differentiation and gravity is incorporated into modern trade models – these predict that after Brexit the UK will continue to trade more with the EU than other countries as it remains our geographically closest neighbour. Consequently, we will be worse off because we will face higher trade costs with the EU. Minford’s assumption that goods prices would fall by 10% comes from attributing all producer price differences between the EU and low-cost countries to EU trade barriers, ignoring differences in quality. Sin gle Market rules (for example, over product safety) facilitate trade between EU members as it creates a level playing field. Minford’s assumption that the Single Market merely diverts trade from non-EU countries is contradicted by the empirical evidence. Minford also overlooks the loss in services trade that would result from leaving the Single Market, such as ‘passporting’ privileges in financial services. Minford’s approach of ignoring empirical analysis of trade data seems predicated on the view that because statistical analysis is imperfect, it should all be completely ignored. But such statistical biases may reinforce rather than weaken the case for remaining in the EU. Theories need grounding in facts, not ideology. Bibliography https://fullfact.org/europe/our-eu-membership-fee-55-million/https://www.reuters.com/investigates/special-report/britain-europe-cost/https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7https://www.ft.com/content/61221dd4-d8c4-11e6-944b-e7eb37a6aa8e?mhq5j=e5http://www.nortonrosefulbright.com/knowledge/publications/115128/mifid-ii-mifir-serieshttp://uk.reuters.com/article/uk-britain-eu-banks/banks-planning-to-move-9000-jobs-from-britain-because-of-brexit-idUKKBN184132http://www.ey.com/Publication/vwLUAssets/ey-uk-eu-planning-for-uncertainty/$File/ey-uk-eu-planning-for-uncertainty.pdfhttps://www.reuters.com/investigates/special-report/britain-europe-cost/https://www.accountingweb.com/community/blogs/geoff-collings/the-effect-of-brexit-on-uk-accountinghttps://www.accountancyage.com/2016/07/21/what-brexit-means-for-accounting-employment-and-taxation-law/ http://www.europarl.europa.eu/RegData/etudes/BRIE/2016/587384/IPOL_BRI(2016)587384_EN.pdfhttps://www.ceps.eu/system/files/WD% 20429%20AB%20et%20al%20Brexit%20Applied%20Economics.pdfhttp://www.frbsf.org/education/publications/doctor-econ/2005/january/financial-markets-economic-performance/https://www.ft.com/content/74708d46-c6ca-11e6-8f29-9445cac8966f Mishkin, F. (2012).  Introduction to Financial Markets. [online] Www2.econ.iastate.edu. Available at: http://www2.econ.iastate.edu/tesfatsi/finintro.htm#FMI [Accessed 10 Sep. 2017].

Religious Terrorism and the Media | Essay

Religious Terrorism and the Media | Essay When the term terrorism is mentioned to any individual, the term is most likely to be associated with Islamic terrorist groups such as ISIS or Al-Qaida. Although there is an assumption that religious terrorism is confined to one religion as that is what is being portrayed the most within academic readings and news media, however, the notion of that belief is false. Many religious terrorist attacks have been made throughout history on behalf of a religions such as Christianity, Buddhism, and Hinduism. However, due to the media presenting most terrorist attacks made by popularized terrorist groups such as ISIS and Al-Qaida, it can overshadow other religious terrorist acts that have occurred and may be assumed that religious terrorism is confined to one religion. Within society, the use of media has a major influence as it connects society with current events that happen internationally. However, with the way the media has been structured, only the most interesting news events that occur presents itself to audiences as other current events are overshadowed or set aside equally presenting itself amongst other news. In Religious conflicts in todays mass media (Iuhas, 2013) the article analyzes the media coverage of religious conflict with the intent to discover how religious conflicts are portrayed within the media. Throughout the investigation, Iuhas (2013, p.373) found that social groups have shown that they rely on the information presented by the media as it concerns their well-being within society. Knowing media is being used as a prime source for information on current events, journalists adapt news stories by using vocabulary and syntax that are influenced by several sources such as their public audience, mass culture, and the pressure o f unknown events to appeal more to audience (Iuhas, 2013, p.). By using vocabulary that is influenced by society to adhere to their needs, it manipulates the audiences perception of the events around them to adhere to the reality and truth of the events that occur (Iuhas, 2013, p.373). By contorting the truth about the conflicts that occur, it can personally affect an individuals attitude when viewing a violent news story such as terrorist propaganda. A study was conducted to measure anxiety levels amongst participants, who were religious and non-religious, while watching various forms of terrorism media footage as they were split into an experimental and a control group (Slone, 2000, p. 512). Two groups were created as to observe the difference of anxiety-levels between both groups. The experimental group was showed footage of terrorism campaigns that could inflict their well-being, while the control group also viewed terrorism media footage, but in context that did not affect thei r lives (Slone, 2000, p.513-514). Results of study concluded that anxiety-levels for participant who viewed the experimental footage and were non-religious appeared to be higher than those who viewed the control group footage as there was no differences shown in anxiety-levels (Slone, 2000, p.515-516). Concluding from the study and the media tactic of using vocabulary to appeal to audiences, with viewing media stories of terrorism that could possibly effect society and the use of contorting the reality of the current events the combination of the two distorts the individuals perception of the violent actions that occur and need to be educated about these events in order to understand the events that are occurring. Nonetheless, the relationship between the media and terrorist organizations can be seen as symbiotic as both groups can benefit from the others work. As media has the main source for terrorist organizations in modern day society, the objective to be on mass media is by gaining publicity and the legitimacy as the media brings attention to their followers and sympathizers (Wilkinson, 1997, p.52). With the use of media in terrorist organizations the connection between the two can be seen as a symbiotic relationship as both are dependent on each other as they both gain resources they need from the others actions (Wilkinson, 1997, p.52). With the known fact that terrorist organizations have a need to be on prime-time television to gain publicity and awareness to their followers and sympathizers, the media gains news coverage from this unusual relationship. The field of media coverage is a competitive market as each media station is wanting to be the first to cover any major news story (Wilkinson, 1997, p.54). With that being said, the media will respond to any terrorist propaganda as it will be automatically deemed bad news (Wilkinson, 1997, p.54-55). However, although media will cover terrorist acts when it occurs, ultimately terrorist attacks can be overshadowed by other terrorist attacks that were made by other popularized terrorist organizations that are more appealing to media stations and audiences. When relating terrorism to a certain society, some may never assume that terrorism would be seen in North America, especially in America. However, religious terrorism is relevant within the United States as it is most often known as domestic terrorism, although this particular type of terrorism it can be linked to religious ideologies as it gives the acts of terrorism a legitimacy for their actions (Sharpe, 2000, p.605). The Identity Christian movement is a form of Christianity that follows and outgrows the White supremacy philosophy as it is composed of several components that leads to the belief that the White race is superior than other minorities with their evidence found within their own creation of the origin story of how humanity was created and within the Bible (Sharpe, 2000, p.606). Organizations that adhere to the White supremacy philosophy includes neo-Nazis and the Ku Klux Klan, in which, they target several social groups such as homosexuals, African Americans, Jews, Hisp anics, and Asians (Sharpe, 2000, p.604). Although there is evidence that religious ideologies come into conflict with domestic terrorism, government officials will not refer domestic terrorism as religious terrorism as acts of violence that target religions and ethnic minorities are considered hate crimes as opposed to terrorist attacks against the targeted groups. The Identity Christian movement consists of biblical context and theories that allow the White supremacist followers to engage in violent acts on the behalf of their religious belief that the White race will restore humanity to its former glory. Another religious terrorist group known as the Aum Shinrikyo was known to be a religious organization in Japan that based their teachings and doctrines on Buddhism and Hinduism that were also involved with violent acts such as murdering and kidnapping citizens (Metraux, 1995, p.1140). The terrorist organization had a rapid growth with having initially 10,000 members in 1987 and expanding operations in 1992 in countries such as the United States, Russia, and Sri Lanka (Metraux, 1995, p.1140). Although the religious group is seen as a cult rather than a terrorist group, the Aum Shinrikyo appealed to individuals as their religious intent was to relieve suffering and poverty within Japan but moved their intent as they grew to the need of self-awareness in a control-oriented society (Metraux, 1995, p.1141). Although the teaching of Aum Shinrikyo can be seen as helpful to members as Buddhism concepts are used in the organization, the terrorist group, however, made violent plans using the r esources they had within the group such as scientists to create a gas 5,000 times stronger that sarin gas (Metraux, 1995, p.1153). With no evidence to prove that the leaders of Aum Shinrikyo were involved in planning such violent acts, the perception to society was that Aum Shinrikyo was an authentic religious organization (Metraux, 1995, p.1154) despite the evidence of the intent to cause harm to Japan society. The conclusions the religious terrorism can be used on behalf of any religion can be seen as it has been done on by the Identity Christian movement and Aum Shinrikyo. However, analyzing tactics the media such as altering media stories to appeal more to audiences and to display a sense of safety within society, in relation to domestic terrorism within North America. The notion that the media has a position is creating the perspective that religious terrorism is confined to one religion. Bibliography Iuhas, F. (2013). Religious conflicts in todays mass media. Revista De Stiinte Politice, (37/38), 372-380. Metraux, D. A. (1995). Religious terrorism in japan: The fatal appeal of aum shinrikyo. Asian Survey, 35 (12), 1140-1154. doi:10.2307/2645835 Sharpe, T. T. (2000). The identity christian movement: Ideology of domestic terrorism. Journal of Black Studies, 30 (4), 604-623. doi:10.1177/002193470003000407 Slone, M. (2000). Responses to media coverage of terrorism. Journal of Conflict Resolution, 44 (4), 508-522. doi:10.1177/0022002700044004005 Wilkinson, P. (1997). The media and terrorism: A reassessment. Terrorism and Political Violence, 9 (2), 51-64. doi:10.1080/09546559708427402

Martin Luther King Jr. :: essays research papers fc

The Most Influential Person of the 21st century   Ã‚  Ã‚  Ã‚  Ã‚  The Civil Rights Movement is one of the most important events of the history of the United States. Although many people contributed to this movement, Martin Luther King, Jr., is widely regarded as the leader of the movement for racial equality. Growing up in the Deep South, King saw the injustices of segregation first hand. King’s studies of Mahatma Ghandi teachings influenced his views on effective ways of protesting and achieving equality. Martin Luther King’s view on nonviolence and equality and his enormous effect on the citizens of America makes him the most influential person of the twentieth century.   Ã‚  Ã‚  Ã‚  Ã‚  King can be considered influential in his preaching of nonviolent protest during the civil rights movement. King quickly realized that there were two alternatives in the struggle against “the forces of injustice'; (Ansbro, 233): violence or nonviolence. He decided against violence for obvious reasons. During this time in America, the African American community represented only ten percent of the total population. King felt that this made it impossible for African Americans who lack access to weapons to successfully wage a violent revolution against the white majority. Any attacks by the civil rights workers or their followers would surely result in counter attacks by the segregationists, resulting in the injury and deaths of many of King’s followers. With these points in mind, King came to the conclusion that the best strategy in gaining the rights of African American was the use of non-violent protest. He believed that violence only “intensifies evil,'; (Ansbro, 231) instead of promoting love and violence among all races. King’s purpose in promoting nonviolence direct action was to create a situation so crisis packed that it will inevitably open the door to negotiations. He felt that practicing nonviolence would portray his followers as moral beings while making apparent the brutality of the segregationists. King’s preaching of nonviolence was monumental in succeeding in demonstrations such as the Montgomery bus boycott and the desegregation of public schools. King’s reaching of nonviolent direct action furthers the arguments that King is the most influential person of the twentieth century.   Ã‚  Ã‚  Ã‚  Ã‚  Not only did King feel it was necessary to preach nonviolence in order to achieve equality among all Americans, he also felt it was important for his message to appeal to all people regardless of race. Despite of the injustice being inflicted upon them by the segregationists, King felt it was important for African Americans to love and respect people of all races.