Perspective of Aging Paper Essay Example for Free

Perspective of Aging Paper Essay Aging, the process of developing or growing old; the progression of changes in appearance (American Heritage Dictionary, 2007). The role of the media is to educate and inform as well as other masses; the senior population suffers greatly from negative stereotyping than any other age group. Some media outlets portray aging in a stereotypical way relating old age to death or disease. This essay reflects on how older Americans are portrayed through the different media outlets. Television shows and commercial advertisements, news and magazines are three types of media outlets that depict older Americans. Television definitely stereotypes the elderly as it relates to their mental capabilities as well as their physical capabilities. Television shows and movie roles feature senior citizens through a lens of less value placing emphasis on the burdens of growing old. These roles show seniors as passive, weak, simple minded and incapable of doing things on their own and not being able to take care of themselves. For example an older movie called â€Å"The Cocoon† depicts older adults as dying and withering away until they found the fountain of youth and things that was done in their younger years, which now is a memory suddenly becomes everyday fascinations. It is not that seniors cannot function; it is more like they chose not to. Commercials advertise senior ageing creams that get rid of wrinkles all over the body especially under the eyes showing signs of aging while hair dying products gets rid of the unwanting grey; commercials also advertise different medical devices that can help seniors move around better or pick things up from a distance without moving out of their favorite chair. There are various commercials that advertiser life insurance or burial expenses. Another media outlet that depict older adults would be radio through entertainment for example when an older adult fall, they may not be able to pick themselves up and comedians will make a joke out of it with laughter. The media has the power that will allow people to have a preconceived notion to an audience as truth; the media can decide what way of life is acceptable and what is not. Media plays a critical part in shaping and reflecting public opinion. There has been a widespread of negative attitudes about aging in print in such magazines as Time or Newsweek that displays photographs of seniors looking disoriented as if they were lost; given the impression they cannot care for themselves based on the articles content. In closing, The overall impressions that the media offers about the older adult is by emphasizing the vulnerabilities of seniors in such a manner that gives the impression that being old is the thing that we as humans most want to avoid, so beauty creams that are offered that can remove wrinkles, telephones that are made with large face buttons, hearing aids that are sold with the message that you dont know what youre missing are just selling points. Many forms of plastic surgery are supposed to be the remedy for staying beautiful and looking young; Just about anything associated with getting older is portrayed as something people dont want to happen. The unfortunate downside of this barrage of negative messaging about becoming older is that it reinforces the thought that being older is being unwanted and no longer valuable to a fast moving beautiful world of people whose desire is to stay young, fresh faced, attractive and to be old, is to not be a welcome part of this society. Individuals should value the aging process in older adults because it is an unavoidable part of life that has it own special values and can offer so many things to the younger generations no matter what stage of life one might be in. The wisdom and information of the older adult offers a calming confidence to society that beauty does come in many forms and can be expressed in many ways and that it does not have to have a sexy component to it to be beautiful and desirable. The growing numbers of baby boomers in this society is bringing a new focus on how exciting and active the older citizen can be and that the contributions to government, science and entertainment and every facet of life is enriched by those who have lived long lives and are still actively giving back to society in countless ways new and creative views of how beautiful it can be to grow older and be appreciated for who you are and not how old you are. Reference American Heritage Dictionary of the English Language (2007) 4th edition Houghton, Mifflin

Examining Guillain Barre Syndrome

Examining Guillain Barre Syndrome Guillain Barre Syndrome (GBS) is a rare immune mediated polyneuropathy that occurs in previously healthy individuals. The purpose of this paper is to provide readers with an understanding of Guillain Barre and conflictions GBS has with other medical resources and diseases. Included in this research paper are topics on origin, symptoms, treatments, medications and conflictions of medical resources with Guillain Barre. Guillain-Barre Syndrome is an acute autoimmune disease that changes the peripheral nervous system and less commonly the motor or cranial nerves. GBS is random producing no warning and is an inflammatory condition that can lead to progressive muscle weakness and paralysis. It is a very rare sight in emergency departments and differentiating its early stages from common viral illnesses is also extremely difficult. Inflammation of the peripheral nerves affect the arms and legs resulting in impaired function, weakness, loss of feeling and limb paralysis with or without pain. Guillain-BarreÂÂ ´ syndrome (GBS) is an immune-mediated polyneuropathy with a worldwide incidence of 1-4 patients per 100 000 inhabitants (European Journal of Neurology 2008, p. 1332). Disease Name and Synonyms The syndrome was named after the French physicians Guillain, Barre and Strohl, who were the first to describe it in 1916. It is sometimes called Landrys paralysis, after the French physician who first described a variant of it in 1859. (All about Guillain Barre Syndrome. (01-2009) symptoms. Retrieved from http://www.jsmarcussen.com/gbs/uk/symptoms.htm) GBS is not just one disease the syndrome has several variations differentiated by their symptoms, the infections preceding it, the extent of the inflammatory phase, severity, and disorder site. Common variations of the disorder are as follows: Acute Inflammatory Demyelinating Polyneuropathy (AIDP) which is the most frequent form of GBS in the Western part of the World. Acute Motor Axonal Neuropathy (AMAN), Acute Motor and Sensory Axonal Neuropathy (AMSAN) and the cranial nerve variant of GBS called Miller Fisher Syndrome (MFS) are all forms of GBS but are not as common as AIDP. Symptoms Symptoms usually begin in the patients feet, face or hands it spread to the arms or legs, it increase in potency as symptoms travel towards the midpoint of the body. The symptoms commonly play a part on both left and right sides of the body. GBS is so irregular that motor symptoms or interferences in the autonomous system may not be detected. It has been reported in rarer cases that GBS has affected an arm or leg without spreading to the rest of the individuals body. (All about Guillain Barre Syndrome. (01-2009) symptoms. Retrieved from http://www.jsmarcussen.com/gbs/uk/symptoms.htm) In some patients, the skin acquires hyperalgesia, or sensitivity to touch intensifies by bed sheets, socks and close-fitting shoes; in severe circumstances pain may limit walking. Patients with symptoms constrained to the feet and ankles may notice related symptoms in the fingertips; as the symptoms expand to the knees they possibly will extend to the wrists. Seldom do these symptoms spread out beyond the knees into other parts of the body. Elevation of leucocytes and protein in the cerebrospinal fluid strongly indicates a diagnosis of GBS. The patient loses the capacity to tell the difference amongst hot and cold, and may feel cold or may possibly start to sweat for no apparent reason. The patients may even receive injures without noticing; their sense of taste can be affected; motor nerve fibers may be damaged as well. The patient encounters a communication interruption between what he wants to perform and his ability to perform the desired act; because the motor nerves regulate movement, the damage inflicted to them triggers partial or complete blockage of the motor signals. The body surface affected by the damaged nerves drops its ability to function normally, causing reduced movement or coordination. The patients muscles dwindle and waste; tendon reflexes are diminished or lost. An example of this is when slightly striking on the front of the patients knee and that act not inducing a kick reaction. Advanced weakening or paralysis could occur, on average arising in the feet, hands or face. The paralysis characteristically consists of more than one extremity, most frequently the legs. The paralysis is persistent and usually rising; expanding to the rest of the limb, and from there may extend to other extremities such as the legs, arms and the remainder of the body. Legs feel heavy; it becomes problematic to stand or climb flight of steps, or even to walk. The patient may struggle holding and manipulating objects, such as pins and buttons. Arms may seem weak and the patient will no longer be able to lift heavy objects. The weakness may possibly be complemented by pain and involuntary muscle contractions. Constipation is more often a predicament, due to the condensed movement of the intestines, modification of diets, declining stomach muscles that contest the physical exertion by the individual to force out the intestinal contents. Around 28% of patients with the syndrome endure and are able to walk unaided. In certain cases, the face could be affected when injury occurs to the cranial nerves. These nerves attach the brain en route to the muscles of the face, tongue and jaw, and also regulate the muscles that move the patients head, neck and shoulders. While the paralysis evolves, all these regions may be paralyzed. The eyelids or one side of the face possibly will hang down resembling Bells palsy; the face loses its ability to express emotions. The individuals voice may change given that the vocal chords are impaired. Speech may be incomprehensible, because the number of muscles required to form speech are declining. Deafness is rare but then again has been reported. The progressive weakness has affected patients with varying intensities, and may be life threatening. The autonomic nerve system may be disrupted with the combination of pain, weakness, and sensory disruptions that are generally so frightening that the more inconspicuous alterations in the patients autonomous nerve system might be unnoticed. The autonomous nervous system controls the inner organs, the organs functions are carried out automatically, examples of this is when the body secrets hormones, creates vision, urination, breathing, heartbeat, etc. It is these functions that may be disrupted, which will result in arrhythmia, unstable blood pressure, blurred or double vision, vertigo, fainting spells, inability to regulate the body temperature, trouble breathing, reduced ability to control the function of the stomach, digestive system and bladder, loss of weight, vomiting after meals, reduced function of various glands, incontinence, impotency, and the bladder may feel as it is not being emptied no matter how many times it is expelled. It is also very well noted that most patients have had a common infection three weeks prior to GBS and it seems that the infection triggers the onset of GBS. Treatment Treatment options for GBS focus on lessening the severity of the symptoms and accelerating recovery. Three main therapies are used to achieve this: intravenous immunoglobulin, plasma exchange and CSF filtration. Intravenous immunoglobulin is understood to block the receptors on microphages preventing an attack on the Schwann cells and myelin. Plasma exchange works by circulating blood through a machine which removes antibodies, and replacing fluid loss with albumin. Cerebrospinal fluid filtration, which removes cells, including inflammatory mediators, is less commonly used. Research suggests that intravenous immunoglobulin and plasma exchange are the most common and effective treatment for GBS, when started within the first 2 weeks of syndromes onset. Quick intervention using either one of these treatments appears to be successful and may possibly reduce recovery time. Both treatments are very good and neither is superior to the other, and there is no advantage to merging these treat ments. The main treatment for GBS is preventing and dealing with the complications (such as breathing complications or infections) and providing supportive care until symptoms begin to improve. This may include; reducing your breathing difficulties, sometimes with the help of a breathing machine, monitoring your blood pressure and heart rate is also good preventative care. Providing adequate nutrition if you have problems chewing and swallowing is also a key to overcoming this syndrome. The patent should attend physical therapy to help maintain muscle strength and flexibility. Preventing and treating complications such as pneumonia, blood clots in the legs, or urinary tract infections. Other treatment of (GBS) depends on how severe your symptoms are. Careful monitoring is very important during the early stages of GBS because life threatening complications can occur within twenty four hours after symptoms first start. Conflictions of Medical Resources with Guillain Barre In 1976, vaccination against a new swine influenza A (H1N1) virus was linked to a substantial increased risk for GBS in the forty two days after vaccination (approximately 10 excess cases per 1 million vaccinations) considerations of ending the immunization program where taken into account despite the circumstantial severity of the influenza viruss transmission around the world. There are certain circumstances in which immunizing individuals, particularly those with a prior history of GBS, may call for caution. However, the benefit of inoculations in averting disease and decreasing morbidity and mortality, particularly for influenza, needs to be weighed against the potential risk of GBS. Destruction of the axonal or myelin membranes could presumably be mediated directly by vaccine virus or vaccine-associated products, or infection or damage of surrounding supporting cells by virus could lead to insertion of virus specified polypeptides into host cell membranes, resulting in a humeral or cell-mediated autoimmune response to the infected cell. Finally, axons or myelin cells could potentially be damaged by the introduction of sequestered myelin antigens into the circulation, inciting autoimmunity. Moreover, it is likely that host factors and genetic polymorphisms may result in a predisposition to GBS in some individuals. Several studies have suggested that various polymorphisms, including genes of the T-cell glycolipid. Recovery Making a prediction about recovery is impossible. Recovery begins as abruptly and mysteriously as when GBS symptoms first started to appear. The symptoms fade gradually, but could take weeks, months or even years to finally get rid of. The development of the disease fluctuates for each patient. Recovery takes 3 to 6 months for most people, and only about two thirds of them ever recover completely. As tingling, numbness and pain dissipates, strength comes back to the affected parts of the body, mostly in the reverse order of sequence as when the signs first appeared. This indicates that in most cases, the arms and fingers will regain their strength prior to the legs, however right handed patients may experience there muscle strength returning to their left hand before their right hand. Axonal damage begins to be repaired; the axon grows little by little and is increasingly wrapped by myelin. The myelin sheath can grow outward in as little as a couple of days, while it could take longer for the body to repair a damaged axon. Example of this is a motor nerve that is regenerated at a rate of 1 mm/day, so it can take weeks if not months to restore a damaged nerve. Demyelination is then repaired by the regeneration of the myelin sheath. The rate of regenerating myelination depends on the amount of damage. The sheath consists of multiple layers that grow back gradually; the myelin has to have a particular thickness prior to the nerve cells recapturing its ability to transmit impulses. The myelin sheath may never regain its normal thickness. These facets decrease the nerve signal transmission speed forever, after the patient has recovered from GBS. Research on the use of treatments that speed up the growth of motor nerves is under way but no one will know when they will arrive or if they will ever arrive. There is no feasible way in predicting which nerves will regenerate. Research states that damaged axons are not restored, and that the surrounding axons send branches out that take over the roles of the impaired nerves, in the affected part of the body. The area could function again, and it may seem as if the muscle has regained full strength, but the muscle and nerves have to work harder to carry out the same job and they end up tiring faster than was the case prior to GBS.

How to Be A Good Student Essay -- Teaching Public Schools

How to Be A Good Student To become a success in life, we all need to learn to become a good student in every aspect of life. Becoming a good student takes much work and self-discipline. There are many ways that a student can stand out from the rest of the class. These good students are distinguished by their attitude, intellectual skills, consciousness, and achievement. Attitude is primarily a genuine desire to learn and the will to do hard academic work to achieve understanding. It is also shown by how well you apply yourself even to subjects in which you have little interest and how much you can achieve even when a teacher’s style is not what you are used to. Also attitude can change the way you percieveperceive things and make you want to either quit or do better. Havin...

Polymorphic & Cloning Computer Viruses :: essays research papers fc

Polymorphic & Cloning Computer Viruses The generation of today is growing up in a fast-growing, high-tech world which allows us to do the impossibilities of yesterday. With the help of modern telecommunications and the rapid growth of the personal computer in the average household we are able to talk to and share information with people from all sides of the globe. However, this vast amount of information transport has opened the doors for the computer "virus" of the future to flourish. As time passes on, so-called "viruses" are becoming more and more adaptive and dangerous. No longer are viruses merely a rarity among computer users and no longer are they mere nuisances. Since many people depend on the data in their computer every day to make a living, the risk of catastrophe has increased tenfold. The people who create computer viruses are now becoming much more adept at making them harder to detect and eliminate. These so-called "polymorphic" viruses are able to clone themselves and change themselves as they need to avoid detection. This form of "smart viruses" allows the virus to have a form of artificial intelligence. To understand the way a computer virus works and spreads, first one must understand some basics about computers, specifically pertaining to the way it stores data. Because of the severity of the damage that these viruses may cause, it is important to understand how anti-virus programs go about detecting them and how the virus itself adapts to meet the ever changing conditions of a computer. In much the same way as animals, computer viruses live in complex environments. In this case, the computer acts as a form of ecosystem in which the virus functions. In order for someone to adequately understand how and why the virus adapts itself, it must first be shown how the environment is constantly changing and how the virus can interact and deal with these changes. There are many forms of computers in the world; however, for simplicity's sake, this paper will focus on the most common form of personal computers, the 80x86, better known as an IBM compatible machine. The computer itself is run by a special piece of electronics known as a microprocessor. This acts as the brains of the computer ecosystem and could be said to be at the top of the food chain. A computer's primary function is to hold and manipulate data and that is where a virus comes into play. Data itself is stored in the computer via memory. There are two general categories for all memory: random access memory (RAM) and physical memory (hard and floppy diskettes).

The City of Thessaloniki (Salonika) Essay example -- History Thessalon

The City of Thessaloniki (Salonika): Cultural, Political, and Religious History (315 BC- 1912) There was once a great city, a cosmopolitan center of commerce and culture. Its' port welcomed immigrants fleeing terror and want; its dense, bustling streets presented a kaleidoscopic variety of native dress and hummed with the sound of the world's languages.? Built on the twin pillars of tolerance and trade, the city was a beacon of pluralism and ethnic hatred. This great city is not New York but Salonika, "the Pearl of the Mediterranean" (1). Salonika, officially known today by the Greek name Thessaloniki, is a magnificent city with a rich heritage.? It was founded in 315 BC by King Cassander of Macedonia, who named this land Thessaloniki after his wife, Thessalonica, daughter of Phillip II and half-sister of Alexander the Great.? Story has it that Phillip received news of his daughter?s birth on the day he conquered Thessaly (2).? He named his daughter ?Thessaloniki?, meaning ?Victory in Thessaly? (3). Thessaloniki, the second largest city in Greece, is also one of oldest European cities.? Over time, Thessaloniki grew to become the industrial and artistic center of Macedonia and one of the few Greek cities to have constantly developed culturally. Early History; Roman Era: During the Roman era, Thessaloniki was a free city and was considered the capital of Roman Macedonia and of the Southern Balkans (4).? In 130 BC the famous Via Egnatia, an important Roman road that linked the East and the West, and the city?s harbor were constructed, both which contributed to the growth and prosperity of the city (5).? In 50 AD, Saint Paul founded the second Christian church, to which he addressed two letters?Thessalonians, the... ...8302&destID=1678&p_id=28302&tn=attraction&search_type= > 12. ?Frommers.com:? Thessaloniki:? Museum or Other Attraction:? Church and Crypt of Ayios Demetrios.?? Frommers.com? 15 Dec, 2003.? Wiley Publishing, Inc.? <http://www.frommers.com/destinations/moreattract.cfm?a_id=28303&destID=1678&directory=thessaloniki&p_id=28303&tn=attraction&leftnav=1678022088 > 13. ?White Tower of Thessaloniki.?? Wikipedia, The Free Encyclopedia. 15 Dec, 2003? <http://en2.wikipedia.org/wiki/White_Tower_of_Thessaloniki> 14. ?Frommers.com:? Thessaloniki:? Museum or Other Attraction:? The White Tower.?? Frommers.com? 15 Dec, 2003.? Wiley Publishing, Inc.? <http://www.frommers.com/destinations/moreattract> 15. ?Frommers.com:? Overview of Thessaloniki.?? Frommers.com? 8 Jan 2004 Wiley Publishing, Inc.? <http://www.frommers.com/destinations/thessaloniki/1678010001.html>

Leadership and Ethics Paper

The movie entitled Coach Carter have shown more than just the simple approach on presenting leadership as a way by which the situations are treated by someone who is expert in a certain field of leading the people. As for this movie, the focus was on the way a coach was able to face the challenges of helping his team see more than just winning the games. Coach Carter, an alumni and an MVP player of the basketball team of the Richmond High School, was able to recreate the motivation of his team players through giving a different approach to his young players. His lengthened thought of the future for his team players have particularly helped him in taking greater steps in making a change in his procedures of the assistance that he is giving them towards   a certain future that would lead them to lives beyond what they have in the basketball courts. From this particular movie, it could be observed that â€Å"leadership† is certainly a factor that brings definite change to groups and organizations. The lessons that are presented through this film certainly awakens the corporate leaders in becoming more aware of the fact that their responsibilities does not simply involve them commanding and directing their people. The corporate world is certainly involving a number of great changes that are involving motivational procedures for the sake of the organizational future as well as individual development goals of the organization. Through the pattern that has been shown through the movie Coach Carter, this particular paper shall be completed in an aim of presenting the possibility of creating effective changes within the organization through the effective use of leadership procedures to be able to meet the challenges of future needs for the corporation that the said leaders are working for. The Role of Communication in Leadership As primarily shown in the movie â€Å"Coach Carter†, it could be observed that communication has been the key factor that has mainly assisted the coach in making it possible for the whole team to understand the aspect that he is making them see. This is indeed also an important factor that needs consideration in application for the sake of organizational growth. The act of constantly communicating with the people around the environment that an individual deals with certainly places an impact on the ways by which the organizational members are able to relate to each other with regards the plans, the procedures of the progressive advancements for the organization. Hence, from this point, it could be observed that there are at least five major points behind the importance of communication within organizational operations. The said points of communication are as follows: (a)Communicating for the sake of passing information There is a need for constant passing of information especially for organizational members. The idea is that the regular way of people communicating with each other would indeed keep the organization unified and intact for the sake of continuous business progress. (b)Communicating for organizational update on progress Whatever the company deals with, the members should know of all of them. This is for the sake of the establishment of trust among the employees as well as the organization’s administration section. It is through the application of regular communication that the progress reports could be utilized to motivate the other members of the organization. (c) Communication for motivational purposes As mentioned earlier, there is a specific need for the people of the organization to take specific steps in being able to perform well for the sake of organization’s progress. To be able to come to a meeting point between the administrators and the employees, it is then necessary to take advantage of communication. Through the open line of communication that exists between the two said parties, it is then obvious that the changes could be given chances of being fulfilled as both sides of opinions are already able to relate to each other’s needs and expectations form the organization as well as form each other. (d)  Ã‚  Ã‚  Ã‚   Communication for the sake of advancement as an organization It is necessary that there exists an open line of communication between all the people making up the organization because of the fact that much of the progress procedures would rely on the ways that govern the ways by which the said people are able to connect with each other through speaking with each other. Their unity, their connection with each other towards progressive efforts relies on their capabilities to talk to each other and support each other through the use of communication. (e)  Ã‚  Ã‚  Ã‚   Communication for the sake of implying law To be able to keep the whole organization at the right track, there is a necessity for the administration to imply the laws of business within the operational engagements of the employees as this would particularly identify the limitations and the capabilities as well as the benefits that the company has further provided for the employees. Communicating to the employees on why the said set rules are necessary to be followed by the people working within the organization shall then make it easier for them to cope up with the organization’s rules and thus keep a clear track of the changes that they need to face as they are staying with the said organization. From the discussion of the five-point reasons of why communication in the continuing process of a particular organization’s growth, it could be noted that the price that keeping the communication lines open pays is much essential for any organizational progress procedures. Constant attention given to the procedures of communication shall indeed bring forth fine results for the whole team or group that works their way on towards advancements. The five importance of communication certainly identifies one of the key roles of leaders then. In the movie Coach Carter, the coach never failed in helping his team understand why he’s doing to them what they actually do.   Hence, although they were not able to understand the reasoning that he presented to them as to why he aims to make them more motivated in learning their lessons as they are completely serious about their plays, they were able to take the gist of the methodologies he used to motivate them later on. The Constant Need for Change It is necessary that every organization take changes every now and then. The fact is that change is the primary reason why several organizations are able to spot the different aspects of possible progress that the organization could be undergoing in the near future. However, to be able to make change, a fine leader should be ready to face the challenges of the new venture that the organization tries to engage into. As based from the movie Coach Carter, it is indeed obvious that the change that he intended to make among his teams created problems with regards the reaction of the people. This particular situation in the movie actually presents the change that goes beyond the norms. Normally, people are not that open to change. However, through the use of transformational leadership, a person who aims to implicate the changes within the organization certainly is given a fine chance of showing that he can face the impending challenges that may hinder him from keeping up with the needed changes. It could be observed then that the leaders are indeed expected to have the capabilities of transforming the opinions of people to be able to coincide with the thoughts and the practices that they ought to imply within the organization. To be able to understand the situation better, it could be noted that the leaders are to have the necessary characteristics that they need to apply in dealing with the situations that they are usually faced with in their position as group motivators. There are necessary points that need to be considered in this particular situation. The said points are as follows: (A)People-focused leadership It is necessary that leaders are able to take into consideration several strategies that are able to meet the needs of the people that they serve. Certainly, it could be noted that the responsibilities of the leaders are primarily people-centered. The profit and everything else comes in a secondary state as leadership is primarily created to be able to direct people towards the progressive state of the organization. (B)Ethical Based policing It is always essential to carry into consideration the ethical measures of the procedures that are being adapted by organizational leaders. It is only through the ways by which the people are able to get the satisfaction that they need that the leadership of one particular person could be considered successful. Hence, the ethical standards that are set for business policing should constantly be observed by the business leaders as they are expected to have a closer observation of the intensity of the application of ethics within the system of business operations. (C)Giving personal assistance to people who are concerned in the change â€Å"Empathy† is one of the primary characteristics that fine leaders should posses. It is then necessary that the leaders of any organization have this particular attitude towards others especially when dealing with critical and complicated issues within the relational aspects of employees and the administration as well. (D)Personal Concern for the employee’s needs and expectations The individual’s that make up an organization are people who have their own needs and expectations from the company. If one particular leader is able to know and thus provide that particular need, it is then possible to have a more personal-focused system within the organization that could lead to a more progressive future for the entire business. Conclusion The movie of Coach Carter certainly redefines the responsibility and the normal approach of leadership within several organizations in the society. The constant implication of the fact that leadership is a profession, a career that requires strength and courage in implementing necessary rules within certain organizational settings, has been actually presented within the plot of the said movie. Hence, this particularly means that the changes that organizations are required to meet every now and then requires an amply amount of patience and courage from the leaders. Aside from that, it also requires sturdiness when it comes to decision making on the part of the leaders. The policy of â€Å"what must be implemented must be implemented† should always be carried on through by the leaders with an ample scaling of the ethical values that are involved within the situation. Yes, the fact that leadership is not an easy challenge that needs to be conscientiously met identifies the qualities and the attitudes that leaders or aspiring organizational head personnel should posses. Hence, a leader is then supposed to face the said challenges in full courage and knowledge of the strategies that need to be applied in particular situations that they are to meet. References: Maxwell, John C. (2001). Developing the leader within you. Thomas Nelson Publishers. Quinn, Robert E. (1996). Deep Change: Discovering the Leader Within (Jossey-Bass Business & Management Series). Jossey-Bass Stephen R. Covey. (2006). The 8th Habit: From Effectiveness to Greatness: Miniature Edition. Running Press Book Publishers; Miniature edition. The Coach Carter Movie. (2005). http://www.coachcarter.com/movie.htm. (June 9, 2

Is Foreign Debt a Problem for Bangladesh?

Is Foreign Debt a Problem for Bangladesh? Part-A Foreign debt in Bangladesh Introduction: External debt is one of the sources of financing capital formation in any economy. Developing countries like Bangladesh are characterized by inadequate internal capital formation due to the vicious circle of low productivity, low income, and low savings. Therefore, this situation calls for technical, managerial, and financial support from Western countries to bridge the resource gap. On the other hand, external debt acts as a major constraint to capital formation in developing nations.The burden and dynamics of external debt show that they do not contribute significantly to financing economic development in developing countries. In most cases, debt accumulates because of the servicing requirements and the principal itself. In view of the above, external debt becomes a self-perpetuating mechanism of poverty aggravation, work over-exploitation, and a constraint on development in developing economi es. Public borrowing can be seen by private investors as a warning signal of the government becoming bankrupt within the foreseeable future.They may also fear that government will impose higher taxes in future in order to facilitate the repayment and servicing of the loan. In that case private investors will become less enthusiastic to invest. However, policy makers have to know whether public borrowing is followed by any crowding- out effect on investment, through whatever channel, and to what extent and whether the detrimental effect of such actions outweighs the benefit coming from the use of borrowed money, as is argued by the classical. What is public debt?Public debt is the entry records of cumulative total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign e xchange earnings. Government debt is one method of financing government operations, but it is not the only method. Governments can also create money to monetize their debts, thereby removing the need to pay interest.But this practice simply reduces government interest costs rather than truly canceling government debt and can result in hyperinflation if used unsparingly. Governments usually borrow by issuing securities, government bonds and bills. Less creditworthy countries sometimes borrow directly from a supranational organization (e. g. the World Bank) or international financial institutions. Sources of public debt: A. Internal Sources. I. Borrowing from individual by issuing govt bond, notes, etc II. Borrowing from commercial bank III. Borrowing from central bankIV. Borrowing from nan-bank Financial institution B. External Sources I. Foreign Government II. Foreign private institution III. International financial institution like IMF, WB etc. Why Bangladesh economy is dependent o n Public debt? To utilize natural resources Economic development Financing deficit budget Strong social and economic structure Crucial economic contingencies Implement annual development Program Import financing Implementation of fiscal policy To strong national defense Modernization of agriculture Facilitate quick industrialization.Factors Which Influence How Much a Government Can Borrow †¢ Domestic Savings. If consumers have a high savings ratio, there will be a greater ability for the private sector to buy bonds. †¢ Relative Interest rates. If government bonds pay a relatively high interest rate compared to other investments, then ceteris paribus, it should be easier for the government to borrow. Sometimes, the government can borrow large amounts, even with low interest rates because government bonds are seen as more attractive than other investments. †¢ Lender of Last Resort.If a country has a Central Bank willing to buy bonds in case of a liquidity shortages, inv estors are less likely to fear a liquidity shortage. If there is no lender of last resort (e. g. in the Euro) then markets have a greater fear of liquidity shortages and so are more reluctant to buy bonds. †¢ Prospects for Economic Growth. If one country faces prospect of recession, then tax revenues will fall, the debt to GDP ratio will rise. Markets will be much more reluctant to buy bonds. If there is forecast for higher growth. This will make it much easier to reduce debt to GDP ratios.The irony is that cutting government spending to reduce deficits, can lead to lower economic growth and increase debt to GDP ratios. †¢ Confidence and Security. Usually, governments are seen as a safe investment. Many governments have never defaulted on debt payments so people are willing to buy bonds because at least they are safe. However, if investors feel a government is too stretched and could default, then it will be more difficult to borrow. †¢ Foreign Purchase. A country lik e the US attracts substantial foreign buyers for its debt (Japan, China, UK).This foreign demand makes it easier for government to borrow. However, if investors feared a country could experience inflation and a rapid devaluation, foreigners would not want to hold securities in that country. †¢ Inflation. Financing the debt by increasing the money supply is risky because of the inflationary effect. Inflation reduces the real value of the government debt, but, that means people will be less willing to hold government bonds. Inflation will require higher interest rates to attract people to keep bonds.In theory, the government can print money to reduce the real value of debt; but existing savers will lose out. If the government creates inflation, it will be more difficult to attract savings in the future. Is foreign debt a problem to Bangladesh? Excessive reliance on debt, whether domestic or external, carries macroeconomic risks that can hinder economic and social development. Cou ntries macro-economic is thus disturbed by this factor alone. Scarcity of resources has already compelled the government to borrow afresh and/or impose new taxes on the citizenry to meet debt service obligations.High domestic public debt pushes up interest rates and crowds out private investment, which is much needed to promote economic growth. When most government revenues are devoted to debt servicing, fiscal policy cannot be used to provide basic services, such as education, health, safe drinking water and housing. Unfortunately, the national budget — annual statement of the government’s income and expenditure — does not recognize the gravity of the situation characterized by its serious problem to finance the external debt servicing at the cost of basic human services.Every year Bangladesh pays, on an average $ 1070 million, to its foreign creditors. A 2003 study (SUPRO: 2003) exclusively revealed the fact that for every dollar in foreign grant aid received, the government spends over $1. 5 in debt service to foreign creditors annually. While there is no denying that Bangladesh is heavily dependent on foreign aid and loans to finance its annual budget, it is also true that aid agencies and multilateral lenders in the West have to carry a lion’s share of the blame for Bangladesh’s burden of debt. Between 1980 and 2012, Bangladesh’s total outstanding international debt quadrupled.The bulk of this surge in lending to the autocratic regimes came from the International Development Association, the soft-loan window of the World Bank. Can the World Bank and the IMF morally impose the burden of this debt on the Bangladeshi people, when in fact that money provided valuable succor to an autocratic regime that the people were struggling to topple at the time? How sustainable Bangladesh Debt is? Bangladesh is classified as a low-income country and is home to the third highest absolute number of poor people in the world, after China and India.Despite the huge amounts it spends servicing debt ($1551. 3 million in 2011), the World Bank describes it neither as ‘severely’ nor even ‘moderately’ indebted, but instead classifies Bangladesh as ‘less indebted’. Instead of rewarding Bangladesh for its track record of prompt debt servicing, the World Bank has interpreted this to mean that Bangladesh’s debt must be sustainable. Arbitrary thresholds on indicators like debt/exports made Bangladesh ineligible for the Heavily Indebted Poor Countries (HIPC) initiative or the Multilateral Debt Relief Initiative.Bangladesh will not receive through either of these initiatives the debt relief that it desperately needs to finance public expenditures on school and hospitals among other basic necessities. One of the Bangladeshi development experts remarked that- â€Å"Bangladesh has regularly paid its debts, expanded exports and are now being punished for its success† (Bhattac harya: 2006). The whole argument is that, since these countries are able to repay they must have â€Å"sustainable† levels of debt.The sustainability of debt is primarily measured on the economic matrix called Debt Sustainable Analysis (DSA) introduced by the World Bank and IMF, which lays too much emphasis on the country’s exports and does not fully reflect the true nature of the debt burden on government expenses. How can Bangladesh’s debt be sustainable especially when it pays back on an average $1070 million to its foreign creditors in general and $870 million to its so-called benevolent development partners (multi-lateral and bi-lateral donors) annually?For a poor country like Bangladesh, would it be realistic to calculate ‘debt sustainability’ without looking at how much money it spends on schools, hospitals and roads, on teachers, medicines, clean water and on everything else that is needed to combat the dire poverty blighting so many lives? If a country cannot afford to meet the basic needs of its own people, then how can one argue that giving money to the rich world is affordable or â€Å"sustainable†? How can its debt be sustainable when the cost of external debt servicing exceeds the public spending on health and education, for example?In what criteria, the Bangladesh external debt can be measured as sustainable when it clearly demonstrates that MDG progress is being seriously hampered due to the excesses of debt servicing? Presumably, the international community has left a single choice for Bangladesh: servicing external debt at the cost of basic services let alone the MDG progress! Why Bangladesh deserves full debt cancellation? Undeniably, Bangladesh cannot afford to pay on average $1060 million a year to foreign creditors.Even though the country is making some progress with regard to the implementation of the MDGs, it is still home to 70 million people living in poverty. It has the highest incidence of po verty in South-Asia. In fact, Bangladesh cannot afford to pay a single dollar in debt service. If debt sustainability is based on the financing needs for the MDGs, Bangladesh would receive full debt cancellation. Bangladesh needs US$ 7. 5 billion a year to finance the implementation of the MDGs. A growing number of NGOs, governments and analysts have come to the conclusion that debt cancellation should be expanded.As independent expert Bernards Mudho explained earlier this year (2007) in a report commissioned for the United Nations: â€Å"There†¦ is a need for further comprehensive solutions to the debt problems of poor countries, including further debt relief by other multilateral institutions and for permanent solutions to the problems of bilateral and commercial debts. Bangladesh Debt must be cancelled, because †¦ ? Debt costs too much to Bangladeshi people in general and poor and marginalized in particular. People need a healthy and prosperous life that requires incre ased government spending on basic services such as health, education, water-sanitation etc. ? Bangladesh needs to achieve the MDG targets in time. To finance the Millennium Development Goals, every year a staggering US7. 5 billion in external budget support is needed. This is about four times the amount of aid and concessional loans currently provided by foreign donors and creditors. ? At this juncture, Bangladesh can no longer afford to pay a single dollar for debt servicing. Because†¦.. Every dollar paid in debt service is a dollar lost for the MDGs†. Part-B Impact of Foreign debt on Bangladesh 1. Effects on Economic growth 2. Effects on NNP 3. Effects on Inflation 4. Effects on Investment 5. Effects on consumption 6. Effects on Production 7. Effects on Distribution 8. Effects on Risk, uncertainty, liquidity Part-C Statistical Analysis 1. Trend Analysis of Foreign Debt: Trend Analysis of External debt of last 10 years is given below Y=1714. 5+0. 8647x R? = 0. 9247 Appen dix Table 1 shows the summary of trend equation and r2 of External debt of Bangladesh.The trend equation of Foreign debt is, Y=1714. 5+0. 8647x and the square of correlation coefficient (r2) = . 9247. Interpretation: The trend equation indicates that during the period from 2003 to 2012 debt increase at the rate of . 8647 billion per year and 1714. 5 is the average external debt of Bangladesh. It is reflected from the table that trend equation of foreign debt are positive and goodness of fit of all the equations are very high. 2. Descriptive Analysis of Foreign Debt: Descriptive Statistical Analysis of External debt of last 10 years is given below: (All amounts are in billions) Descriptive Statistics | |N |Range |Minimum |Maximum |Mean |Std. Deviation |Variance |Skewness |Kurtosis | | |Statistic |Statistic |Statistic |Statistic |Statistic |Statistic |Statistic |Statistic |Std. Error |Statistic |Std. Error | |Foreign_Debt |11 |8. 7200 |16. 5000 |25. 2200 |2. 103273E1 |2. 9825127 |8. 8 95 |-. 169 |. 661 |-1. 108 |1. 279 | |Valid N (listwise) |11 | | | | | | | | | | | | Interpretation: This table provides statistical information about the data set, such as showing mean value of foreign debt individually and its deviation.For this information, for instance we found that minimum value of the variable is 16. 5bill, Maximum value is 25. 22billon, its mean 2. 103273e1 and Standard deviation is 2. 9825127. 3. Correlation Analysis: Table shows the correlation matrix for estimating interrelationships between chosen economic parameters of Bangladesh. Variables |GDP real Growth |Amount of Foreign Debt |Inflation rate |Investment Amount |Remittance Inflow |Import |Export Amount |Foreign Reserve | |GDP real Growth Rate |1 |. 635 |. 638 |. 748 |. 427 |. 457 |. 485 |. 352 | |Amount of Foreign Debt |. 35 |1 |. 819 |. 555 |. 919 |. 901 |. 920 |. 846 | |Inflation rate |. 638 |. 819 |1 |. 518 |. 686 |. 742 |. 763 |. 494 | |Investment Amount |. 748 |. 555 |. 518 |1 |. 406 |. 433 |. 4 68 |. 222 | |Remittance Inflow Amount |. 427 |. 919 |. 686 |. 406 |1 |. 915 |. 935 |. 920 | |Import Amount |. 457 |. 901 |. 742 |. 433 |. 915 |1 |. 994 |. 888 | |Export Amount |. 485 |. 920 |. 763 |. 468 |. 935 |. 994 |1 |. 885 | |Foreign Reserve Amount |. 352 |. 846 |. 494 |. 222 |. 920 |. 888 |. 885 |1 | | From the correlation matrix we have observed the followings; GDP real Growth has moderate correlation with foreign debt, inflation rate, investment and low degree of correlation with remittance, import, export and very low correlation with GDP per capita. †¢ Foreign debt has strong correlation with. †¢ Inflation rate have strong correlation with. †¢ Investment have strong correlation with. †¢ Remittance inflow has moderate correlation with †¢ Import has strong correlation with †¢ Export has low correlation with †¢ Foreign exchange Reserve has low correlation with Part-D Recommendation & Conclusion Recommendation: The international community inc luding the G-8 must take necessary steps immediately to ensure full Debt cancellation for Bangladesh; †¢ Debts must be cancelled as a matter of justice: creditors must accept their share of responsibility in creating the current debt crisis, and cancel debts on this basis; †¢ A â€Å"MDG-consistent† frame-work of Debt Sustainability should be applied and cancellation must be available to all that need it; †¢ The issue of Climate Change and its adverse effect must be taken into account and additional fund should be released to overcome the adversity linking it with MDG process; †¢ The governments of indebted countries must demonstrate to their citizens that they are spending money well and accountably.But this must not be used as an excuse to impose economic policy conditions or to limit those countries receiving debt cancellation by the donor community; †¢ Rich countries, institutions and commercial creditors must cancel all illegitimate and un-payabl e debts being claimed from all poor countries; †¢ Total Debt stocks must be cancelled, not just Service; debt service cancellation for a limited period is not enough. †¢ Debt cancellation of any kind must not be conditional and it must not be considered again as ODA Conclusion: The study has been conducted with a view to examining the presence of crowding- out effect of public borrowing on the private investment in the Bangladesh economy.To accomplish the task, a model for investment function has been specified and estimated considering public borrowing, GDP and interest rate as independent variables. A long -run relationship has been estimated and analyzed by performing unit root test, co – integration test and an error correction model. The main findings of the study confirm with statistical significance that there is no crowding- out effect in Bangladesh, rather, the crowding- in effect is evident. This result is indeed somewhat paradoxical in terms of convention al wisdom. The study has attempted to offer a rationale for this seemingly paradoxical finding from a macroeconomic point of view.In doing so, it has analyzed a couple of macroeconomic issues and ended up with the conclusion that the presence of crowding- in instead of crowding – out effect can be attributed to such factors as excess liquidity in the banking system, imperceptible government competition with the private sector, relatively sustainable public debt scenario, government expenditure for transfer payment program , significant development expenditure for producing those goods and services which has the potential to discharge positive externalities, government microcredit programs and ADP -black money linkages. The results of the study have important implications for the fiscal management.Existence of excess liquidity and possibility of crowding – in effect together put the fiscal authority in a position to foster private investment and hence economic growth th rough expanding borrowing backed public expenditure. However, the overall criteria that public expenditure authority ought to ensure is the transparency and efficiency in its programs. Moreover, government can avoid unnecessary inflation and external indebtedness by reducing reliance for funds on Bangladesh Bank and foreign sources as long as excess liquidity in the banking system prevails. In view of the perceived limitations inherent in this study, the following aspects may be taken up by future researchers: Decomposing private investment by category and taking each of them as separate dependent variable; †¢ Segregating borrowing by government itself and borrowing by other public sector corporations, and considering them as separate explanatory variables; †¢ Splitting public borrowing by sources (not only banks, NBDC or general public but also Bangladesh Bank and external sources) and taking all of them as explanatory variable s; †¢ Incorporating a dummy variable fo r capturing the issue of economic reform and structural variation between after and before 1990 periods; and †¢ Finally, if possible, carrying on the whole study on the basis of quarterly data to make the analytical framework parsimonious. [pic] ———————– 10