Essay Comparing the Lamb and the Tyger in In Songs of...

Comparing the Lamb and the Tyger in In Songs of Innocence Children embody the very essence of innocence. They see the world through virgin eyes, hear life with fresh ears and create the world with a simple mind and pure heart. It is about the only time in a persons life when the weight of sin, corruption, egotism, and hatred are not blurring their vision and thoughts. It is the only time a person is completely free. But this state of innocence becomes separated and exiled once experience has tainted the soul. William Blake conveys this theory in his work, Songs of Innocence and of Experience: Shewing the Two Contrary States of the Human Soul. In Songs of Innocence, a childlike vision is conveyed through William Blakes†¦show more content†¦The Lamb is a very pure and wholesome poem, just like the innocence of a child. It asks the question, who made thee? But it also answers that question, God. The poem gives the impression that God is generous and loving. He created the Lamb (child), giving him clothing, food and a tender voice. The child is called by Gods name, which is lamb. Possibly implying that God and child are one, for in true innocence, God is there. This is religion at its purist form. God is found inside the individual, not the organization. It has not being contaminated by human institutions yet. The Tyger is the reverse state of the soul, once experience has become a part of the picture. This is a powerful and formidable poem. The tiger, itself, is a dangerous but beautiful creature, that could possibly be representing an adult, just as the lamb was a child. Again, this poem also asks the question, who made thee? It questions, who or what God dare to make such a beast? Blake never states that it is God, but rather an immortal hand. It leads the reader to believe that this is possible a different God or one that has been altered from His original childlike innocence portrayed in The Lamb. The imagery used in the poem creates a picture of God as blacksmith: seize the fire, twist the sinews, hammer, chain, furnace, and anvil. This is noShow MoreRelatedWilliam Blake s The Tyger1132 Words   |  5 Pagesâ€Å"The Tyger† and Tragedies William Blake wrote a set of poems in his collection Songs of Innocence and Songs of Experience. Some of the poems in each collection were meant to be read together to show the difference between innocence and experience. Many people question why Blake wrote a two part series to his poems and what they could actually mean. Two specific poems, â€Å"The Lamb† and â€Å"The Tyger,† were meant to be read together. â€Å"The Lamb† is a part of Blake’s Songs of Innocence and â€Å"The Tyger† isRead MoreThe Lamb and the Tyger Essay1437 Words   |  6 PagesThe Tyger and The Lamb by William Blake, written in 1794 included both of these poems in his collection Songs of Innocence and Song of Experience, takes readers on a journey of faith. Through a cycle of unanswered questions, William Blake motivates the readers to question God. These two poems are meant to be interpreted in a comparison and contrast. They share two different perspectives, those being innocence and experience. To Blake, innocence is not better than experience. Both states haveRead MoreWilliam Blake s The Lamb And The Tyger1493 Words   |  6 Pagespopular works, Songs of Innocence and of Experience: Showing the Two Contrary States of the Human Soul (1794). Two standout poems, â€Å"The Lamb† and â€Å"The Tyger,† respectively taken from Songs of Innocence and Songs of Experience, demonstrate Blake’s meditation on how innocence and experience in life create a binary and complementary relationship that is observable in our outer world as well as in our inner being. As one of the titles in his Songs of Innocence, William Blake chooses the lamb, naturally gentleRead More Comparing William Blakes The Tyger and The Lamb Essay1246 Words   |  5 PagesComparing William Blakes â€Å"The Tyger† and â€Å"The Lamb† William Blake is referred to as many things, including poet, engraver, painter and mystic, but he is probably most famous for his poetry. Blake began writing the poems below in about 1790 whilst living in Lambeth, London. His poetry has a wide range of styles but his most famous poems are those from â€Å"Songs of Innocence† and Song of Experience†. The two sets of poems are designed to show different states or ways of seeing. They are BlakesRead More The Lamb vs. The Tyger By William Blake Essay1081 Words   |  5 PagesIn this essay I am going to be looking at two poems from the Songs of innocence and experience works. These poems are The Lamb and The Tyger written by William Blake. Both these poems have many underlying meanings and are cryptic in ways and both poems are very different to each other. In this essay I will be analysing the two poems, showing my opinions of the underlying themes and backing them up with quotes from the poems. I will compare the poems looking at the similarities and differences betweenRead MoreThe Lamb and The Tyger Essay955 Words   |  4 PagesThe Lamb and The Tyger In the poems The Lamb and The Tyger, William Blake uses symbolism, tone, and rhyme to advance the theme that God can create good and bad creatures. The poem The Lamb was in Blakes Songs of Innocence, which was published in 1789. The Tyger, in his Songs of Experience, was published in 1794. In these contrasting poems he shows symbols of what he calls the two contrary states of the human soul (Shilstone 1). In The Lamb, Blake uses the symbol of theRead MoreSongs of Good and Evil1545 Words   |  7 Pages(William Blake Biography). In August 1782 Blake married Catherine Boucher, with whom he fell in love at first sight (Encyclopedia of World Biography). Blake taught Catherine to read and write, and she later became his assistant. Blake wrote Songs of Innocence and Songs of Experience in 1794. With the help of his wife, Catherine, Blake hand-engraved his poems and paintings on a bronze board while his wife, Catherine, assisted with the binding and coloring of the poems (Zhan). At first, Blake experiencedRead More Comparing The Lamb and The Tyger by William Blake Essay1458 Words   |  6 PagesComparing The Lamb and The Tyger by William Blake This essay will focus on the enchanting poem, The Lamb which is taken from the Songs of Innocence which will be compared and contrasted with the mysterious poem, The Tyger, which is taken from the Songs of Experience. The poem of The Lamb represents the childs early years whereas The Tyger portrays an adult (the dominator). Blake has constructed these two poems from natural views and by comparing and contrastingRead More The Poems of William Blake Essay2391 Words   |  10 Pagesbeing free, therefore he disliked the rulings of kings and priests. All that surrounded him had an influence on his poetry. His poems are separated into innocence and experience, both opposites as Innocence has the sounds of laughter and joy the images of simplicity, children being protected, unthreatening animals like the birds and the lamb also beauty of nature, the roses and the non scary daylight, brightness and sunshine reflecting the creators warm love. Next, experience which is somethingRead More Comparing The Lamb and The Tyger by William Blake Essay1288 Words   |  6 PagesComparing The Lamb and The Tyger by William Blake In this essay I am going to analyse, compare and contrast two poems by William Blake. They are called The Lamb and The Tyger. I will be looking at how Blake uses imagery, structure and form to create effects and how the environment that Blake lived in affected the way he wrote his poems. In the late 18th century, the world was changing and developing into a new world quite fast. Blake was born in London, the third of five children

Pluto s Life As A Planet - 1436 Words

Pluto s life as a planet was very short, lasting only 75 years—which is less than a third of its orbital period. While Pluto independently orbits the sun in a spheroidal shape—two classifications for being considered a planet—Pluto lost its title with the discovery of Eris. Pluto also travels on a different plane than the rest of the planets, and because it has an extremely elliptical orbit, it occasionally crosses Neptune s orbital path and, therefore, is occasionally closer to Earth than Neptune (Countdown, 2011). As a dwarf planet Pluto is the only binary planet in the system due to one of its five moons being half of its size. Pluto, the ninth planet in our solar system, was mourned by many when astronomers decided in 2006 that it did not fit the definition of a planet. With the discovery of Eris (a dwarf planet bigger than Pluto) in 2005, it is easy to understand why astronomers finally ruled out Pluto as a planet. However, there has been a debate as to whether or not Pluto should be allowed back. The biggest downside to claiming Pluto as a planet again is that astronomers will have to classify other dwarf planets as a part of our solar system, forcing children to memorize at least 25 planets instead of eight (Lemonick, 2014). Whether or not it becomes a planet again, we will still be expanding our knowledge of the dwarf planet and its moons, as well as its impact in our solar system. The discovery of Pluto is quite interesting considering Lowell s dedication toShow MoreRelatedThe Earth s Planetary Group1104 Words   |  5 Pagesthe most fascinating was the point at which we discussed the earth s planetary group. I discovered that the earth s planetary group has numerous things in it, however as large as the earth s planetary group is it just has one stay which is called Sol which is otherwise called the sun. The earth s planetary group is 4.568billion years of age, and it comprises of eight planets. The IAU is right now perceiving five midget planets, however of the five there are perhaps a few hundred more to be namedRead MoreSci151 - Planetary Comparison1355 Words   |  6 Pages May 3, 2011 Norman Stradleigh Planetary Comparison Planet Earth is the third planet from the Sun and the fifth largest of the planets of the Solar System. Earth’s surface is 71 percent water and is the only astronomical planet currently known where life exists. Earth is our home planet. Scientist and astronomers have studied our planet for Centuries and they have discovered much about our planet. Scientist have gained so much more knowledge of our Solar System in the lastRead MoreShould The United States Attempt A Manned Mission?927 Words   |  4 Pagescapabilities of humans. We desire to figure out our purpose of being the only known living and thriving planet in the Universe. 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Challenges Faced By VIC -Free-Samples for Students-Myassignment

Questions: 1.Use a diagram (produced by the means of using Rationale, Visio or any other relevant software application of your choice) to illustrate current security risks and concerns considered by the VIC government. 2.Provide detailed explanation of the diagram and identify the areas of: high, medium, medium-low, and low risk exposure. 3.Carry out comparative analysis of the Deliberate and Accidental Threats and rank those threats in order of importance. Justify your rankings not only on the basis of the case study but also by the means of doing further research and drawing upon other relevant case studies (e.g. Security guidelines for other private and public organizations) that you can identify. 4.While drawing upon theories, tools and patterns covered in the subject as well as your own research, explain the challenges that the VIC government is going to face while deciding on whether security/risk management should be carried out internally or externally (e.g. via outsourcing). 5.Explain the difference between the concepts of Risk and Uncertainty (make sure that your discussion is linked to the case considered). 6.Discuss and evaluate (with examples) different approaches available to the VIC government for risk control and mitigation. Answers: Introduction: The VPDSF or the Victorian Protective Data Security Framework has been the overall scheme to manage the protective risks of data security at the public sector of Victoria. The framework has been encouraging the cultural transformation in the sector through the promotion of protective security of data as the part of daily business ("CPDP - Home", 2017). The following report used diagram and theoretical explanations about the areas of risk. It has covered the comparative analysis on accidental and deliberate threats and the challenges faced by VIC or Victoria government to implement the risk management. Further, it has compared the ideas of risk and uncertainty and lastly discussed with examples the process to control and mitigate risks. 1.Diagram illustrating the current security risks and concerns considered by VIC government: Figure 1: Current security risks and concerns considered by the VIC government (Source: Created by Author) 2.Explanation of the diagram: The risks have been lying on the foundation of certain basic features. The event risk is the possibility that could negatively affect the VPDSF by any unforeseen event. The recurrent risks have been originating as an insufficient reporting format on the capacity and the inventory. The emerging risks has been perceived to be significant but are not been understood fully (McNeil, Frey Embrechts, 2015). There have been the creeping risks also. They have been originating from the present non-planning. These are done by various jurisdictions of the rising demographic changes in the workplace. The risks are identified below, according to the very high, high, medium, medium-low and the low risk areas of exposure. The level of risks The identified risks Description High The state significance risk These are the risks where the potential impacts or the consequences of the risk on the private sectors, community and the government have been large as the state significance. It could be the extension of the current agency risk that beyond any particular threshold turns serious enough having wide implications. This could also be the assimilation of various agency specific risks. Medium The primary systematic risks for VPS These risks have the implications for every parts of the government operations. This has needed the high level of the coordination and management between the agencies (Hopkin, 2017). As with the state significant and the inter agency risks the agencies have been responsible regarding the contrition of the management and recognition of the system risks as the proper one. Medium-low The primary interagency risks These risks have been the shared risks by the two or more than two agencies. These agencies require the coordinated management through more than a single agency. This might include the systemic risks. The role to control the inter-agency risk has been shared by every related agency and takes advantages from the coordinated responses. Here one of the agencies has been taking the lead role. Low The agency specific risks These risks could be managed completely under one operation of the agency (Davies, 2014). It could be well understood generally and managed effectively with the simple process of risk management. 3.Comparative analysis of the Deliberate and Accidental Threats: The deliberate threats: These types of threats are arranged according to their order of importance. The trespass or espionage: This has been taking place as any unauthorized people try to have illegal access. The information extortion: This has been happening as the attackers threatened by the conditions commit any theft or they possess their individual intention in committing theft of the data under VPDSF. The vandalism or sabotage: This has also been taking place which id the international act involving the destruction of the website of VPDSF. The theft of the information or equipment: As the storage devices or the computers experience the decrease in size and the rise in strength the devices could be stolen easily. The cost of the loss of the electronic devices like the laptops has been including the loss of intellectual property, data, productivity and new laptop replacement. Compromising to the intellectual property: This has been created by various people and organizations. They are protected by the copyright laws, patent and trade secret. The software attack: This has been rising in the age of computerization as the attackers have been using the malicious software infecting more companies worldwide (Haimes, 2015). The accidental threats: The accidental threats have been happening as the staffs have not been vigilant or alert. They have been moreover unaware of the consequences or risks of the cyber attacks and are unaware of the security policies. These threats have been regarding the following. The social engineering: This has been occurring as the staffs fall victim to the phishing attacks where the attackers retrieve the sensitive data through impersonating anyone trusted. The poor security of password: This take place as the staff sets weak passwords or possesses poor behavior such as wiring or sharing them down anywhere. This has been thus permitting the access to the unauthorized people. The unauthorized download of the damaged applications and software: This has been taking place without the department of IT knowing about that. These downloads could have the malware spread around the entire network (Mcube, Gerber Von Solms, 2016). 4.Challenges that VIC government might face: The message stating that the security should be the essential component of outsourcing is not new in the market. Similarly the requirement of setting particular criteria, to select the suppliers as the tool, for managing the outsourcing security risks is also documented. Despite that, the taking in account of the patterns, of lesser time frames, is often associated with the outsourcing decisions. The security risk analysis might also be conducted at the proper time and with the needed granularity. In few cases, the challenges for the risks might not be taken into consideration (Lam, 2014). For instance, this take place where the very preliminary theory of Lift and shift attitude has been applied in the outsourcing of the activities of business. Also as the security necessities are agreed, the challenges could also take place with the current responsibility ownership and the security controls. This happens especially as the amount of vendors is included with the deliveries of the simi lar service or product. The stakeholders or the customers have turned out to be more concerned regarding the information and privacy confidentiality. This is due to the rise of the abuse of personal information via identity theft and fraud. The other challenges from the threat levels have also been occurring. The VICs prominent position under the ICT sector has been pointing to the target for the agent of threats. They have been finding the comprising of availability, integrity and confidentiality of the data or the operational capability. Additional concerns have been lying under the global extension of the IT infrastructures of the country external to the conventional protection domains (Sadgrove, 2016). The selection of the lesser supplier numbers for the critical processes of business have been resulting in the aggregation of data. This might not take place under the own infrastructure of IT of VIC. The changes have been delivering new scopes for the agents of identity information vulnerabilities and as sets. This has been in the geographical sectors that might have been more susceptible to the targeting attacks. 5.Difference between the Risk and Uncertainty: There has been a saying that without any risk there has been no gain. As the VIC government needs to survive in the long term, they require taking the measured risks where the losing probability has been less comparatively. Moreover the changes of benefits have been higher here. The difference between the concepts of risk and uncertainty is described below: The basis Risk Uncertainty Meaning It has been the probability to loose or win anything worthy. This has been implying to the case where the future vents have been unknown. Outcome The changes of the outcome are already known. Here, the chances of the outcomes are not known. Control This is controllable. This has been uncontrollable. Ascertainment It could be measured It could never be measured. Minimization Here the minimization take place Here no minimization take place Probabilities Here the probabilities are assigned Here no probabilities are assigned. Distinction in nature The risk has been the measured uncertainty. The uncertainty has been the unknown risk. Insurance and the insurability There have been particular risks fully covered by taking the insurance policies like the robbery, theft, draught, flood and fire (Pritchard PMP, 2014). In the uncertainty the insurance has not been possible. Transferability The risks could be transferred into other risks However, the uncertainty could not be transferred. Elements of costs The cost of production also includes the risk bearing costs. The entrepreneur never gets any benefit for bearing the risks. The uncertainty has not been involved in the production cost. The profit has been the reward of entrepreneur to bear the uncertainty. Subjectivity and objectivity The risk has been objective. The uncertainty has been subjective. The knowledge of the alternatives Every possible alternative to the challenges have been known by the economists from before. Here the prior knowledge has not been possible. Nature of decisions The decisions taken in risks situations are of lesser importance. The decision undertaken under the uncertainty situations have been more vital that the risk decisions taken under the risk situations (Webster, 2014). This has been due to the measuring of the alternatives has not been possible in the condition of uncertainty. 6.Discussion and evaluation of different approaches available for risk control and mitigation: The various approaches to control and mitigate the risks are as follows. Approaches Discussion Evaluation with examples Establishing the context This indicates the understanding of the objectives and defining the internal and external factors that could be the uncertainty source. This helps in identification of risk and setting scope and the risk criteria regarding the residual process of risk management at VIC. Risk identification This determines why, hoe, when, where and what risks could arise. The various industry and government resources could be employed for assisting the recognition if risks (Brindley, 2017). The risk analysis This indicates the level of risk against the risk criteria through the understanding of how fast the risk could take place (Libich Mach?ek, 2017). The analysis are considered at VIC regarding the effectively of the current controls. It has been following the typical process of risk analysis to apply the likelihood and consequence matrix. The risk treatment This has been involving the selection and assessment of one or more scopes to modify risks. In VIC this is done by altering the likelihood or outcomes and implementation of the chosen options by the treatment plan. Consultation and communication This has been taking place around the process of risk management with the stakeholders identified. At VIC this is done by ensuring the accountable to implement the process of risk management. The stakeholders must know the basis over which the decisions have been made (Webster, 2014). Monitoring and review This confirms that the risks of the risk and control treatments have been monitored (Webster, 2014). AT VIC this could be reported for assuring that the altering priorities and context have been managed and the rising risks are identified. Conclusion: The risks have been involving the short and long terms effects. They are recurrent, event based, creeping or the emerging features. With the emerging risks, the VPDSF have developed the understanding of the scopes of the threats. Keeping these potential effects in mind, the report has helped to understand the monitoring of the risks with further investigation. The stakeholders of VIC government have been consistently aware of the dependability of the electronic information and the risks. These are seen or otherwise presented not only by the malicious activities but also by the accidental exposure. The uncertainty has been inherent in VIC. This could not be avoided. However, in order to complete the projects successfully, VIC must be very proactive, cautious and free minded in managing the uncertainty and risks References: Brindley, C. (Ed.). (2017).Supply chain risk. Taylor Francis. CPDP - Home. (2017).Cpdp.vic.gov.au. Retrieved 21 August 2017, from https://www.cpdp.vic.gov.au/10-data-security Davies, J. C. (2014).Comparing environmental risks: tools for setting government priorities. Routledge. Drennan, L. T., McConnell, A., Stark, A. (2014).Risk and crisis management in the public sector. Routledge. Haimes, Y. Y. (2015).Risk modeling, assessment, and management. John Wiley Sons. Hopkin, P. (2017).Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers. Lam, J. (2014).Enterprise risk management: from incentives to controls. John Wiley Sons. Libich, J., Mach?ek, M. (2017). Insurance by government or against government? Overview of public risk management policies.Journal of Economic Surveys,31(2), 436-462. McNeil, A. J., Frey, R., Embrechts, P. (2015).Quantitative risk management: Concepts, techniques and tools. Princeton university press. Mcube, U., Gerber, M., Von Solms, R. (2016, May). Scenario-based IT risk assessment in local government. InIST-Africa Week Conference, 2016(pp. 1-9). IEEE. MetaAuthor:, M. (2017).Victorian Government Risk Management Framework.Vmia.vic.gov.au. Retrieved 21 August 2017, from https://www.vmia.vic.gov.au/risk/victorian-government-risk-management-framework Olson, D. L., Wu, D. D. (2015).Enterprise risk management(Vol. 3). World Scientific Publishing Co Inc. Pritchard, C. L., PMP, P. R. (2014).Risk management: concepts and guidance. CRC Press. Sadgrove, K. (2016).The complete guide to business risk management. Routledge. Webster, D. (2014). Effective Enterprise Risk Management: Mapping the Path Forward.Managing Risk and Performance: A Guide for Government Decision Makers, 267-292. Webster, D. W. (2014). Introduction to Enterprise Risk Management for Government Managers.Managing Risk and Performance: A Guide for Government Decision Makers, 113-136.

The Jaguar Project Questions free essay sample

To illustrate the principles described in the Systems Engineering Body of Knowledge (SEBoK) Parts 1-6, Part 7 is a collection of systems engineering (SE) implementation examples. These examples describe the application of SE practices, principles, and concepts in real settings. The intent is to provide typical instances of the application of SE so readers can learn from these experiences. This can improve the practice of SE by illustrating to students, educators, and practitioners the benefits of effective practice, as well as the risks and liabilities of poor practice. A matrix of implementation examples is used to map the implementation examples to topics in the SEBoK, primarily Part 3. To provide a broader set of domains, both formal case studies and shorter vignettes are used. For the case studies, an introduction and analysis of the case is given with references to the full external case study. For the vignettes, the implementation example is described directly. We will write a custom essay sample on The Jaguar Project Questions or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the SE literature, a wide variety of examples and formats are considered case studies. Here, the distinction between a case study and a vignette is that a vignette is a short wiki article written for the SEBoK and a case study exists externally in the SE literature. An initial set of examples is included with the anticipation that more will be added over time to highlight the different aspects and applications of SE. In addition, new examples can be added to demonstrate the evolving state of practice, such as the application of model-based SE and the engineering of complex, adaptive systems. Knowledge Areas in Part 7 Each part of the SEBoK is divided into knowledge areas (KAs), which are groupings of information with a related theme. Part 7 is organized into the following KAs: †¢ Matrix of Implementation Examples †¢ Case Studies †¢ Vignettes References None. Matrix of Implementation Examples The following matrix maps the SEBoK Systems Engineering Implementation Examples to topics in the Systems Engineering Body of Knowledge (SEBoK), primarily Part 3. It provides both a list of potential systems engineering implementation examples for topics of interest, and a list of relevant topics for each implementation example. Since the number of topics in the SEBoK is extensive, only a subset are included here for clarity. For additional information, see the implementation example of interest and the corresponding SEBoK topic. Organization and Mapping of Case Studies to the SEBoK The following short titles shown in Table 1 (Developed for BKCASE) are used for the implementation examples: Table 1. Short Titles for the SEBoK Case Studies and Vignettes. (SEBoK Original) Case Studies Vignettes HST Hubble Space Telescope Bag Handling Denver Airport Baggage Handling System GPS Global Positioning System VA Sub Virginia Class Submarine Radiation Medical Radiation Route Mod UK West Coast Route Modernisation Project FBI VCF FBI Virtual Case File System Water Mgmt Singapore Water Management MSTI Miniature Seeker Technology Integration FAA AAS FAA Advanced Automation System Infusion Pump Next Generation Medical Infusion Pump Light Rail Standard Korean Light Transit System Table 2 shows how the topics (each row) align with the implementation examples (each column). Table 2. Implementation Examples. Coverage of SEBoK Topics for Each Case Study and Vignette. (SEBoK Original) SEBoK Topic (Part 3) HST GPS Radiation FBI VCF MSTI Infusion Pump Bag Handling VA Sub Route Mod Water Mgmt FAA AAS Light Rail Mission Analysis X X X X X Stakeholder Needs and Requirements X X X X X System Requirements X X X X X X X Architectural Design: Logical X X X X X X X X Architectural Design: Physical X X X X X X X X System Analysis X X X X X System Implementation X X System Integration X X X X X X System Verification X X X X X X X System Validation X X X X X X X System Deployment X X Operation of the System X X X X System Maintenance X SEBoK v. 1. 0 Extracted from www. sebokwiki. org/1. 0 on September 13, 2012 Matrix of Implementation Examples 3 Logistics X Planning X X X X X X X X Assessment and Control X X X X X Risk Management X X X X X X X X X X Measurement X X Decision Management X X X X Configuration Management X X X X Information Management X Quality Management X References None.

Compare and Contrast the Response of Economic Policymakers to the Great Depression of the 1930’s and the Great Financial Crisis Today. Essay Example

Compare and Contrast the Response of Economic Policymakers to the Great Depression of the 1930’s and the Great Financial Crisis Today. Essay David Pattinson ‘Industrialisation, Imperialism and Globalisation: The World Economy since 1800’ Professor John Singleton Compare and contrast the response of economic policymakers to the Great Depression of the 1930’s and the Great Financial Crisis today. Essay 2 10/1/13 Word count: 2,299 The financial crisis that began in 2007-8 was the first time since the 1930’s that both the major European countries and the US had been involved in a financial crisis. In comparison, the disastrous 1931 banking crisis involved countries that accounted for 55. 6 per cent of world GDP, whereas the banking crisis of 2007-8 only involved countries that accounted for 33. 5 per cent of world GDP. Though, all the key economic variables fell at a faster rate during the first year of the later crisis. Keynes had argued in 1931 that ‘there is a possibility that when this crisis is looked back upon by the economic historian of the future it will be seen to mark one the major turning points. ’ Keynes was correct. As a result of the lessons that were learned, policy in response to the Great Financial Crisis has contrasted sharply with policy during the Great Depression era. I will examine how national policy responses and international co-operation have differed, as well as highlighting how in creating the Euro, policymakers have unwittingly replicated many of the structural weaknesses of the Gold Standard. I will also consider how policy in the recovery phase has so far compared to policy during the recovery from the Great Depression. We will write a custom essay sample on Compare and Contrast the Response of Economic Policymakers to the Great Depression of the 1930’s and the Great Financial Crisis Today. specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Compare and Contrast the Response of Economic Policymakers to the Great Depression of the 1930’s and the Great Financial Crisis Today. specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Compare and Contrast the Response of Economic Policymakers to the Great Depression of the 1930’s and the Great Financial Crisis Today. specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The Great Depression was marked by bank failures. A total of 9,096 banks failed between 1930 and 1933 amounting to 2. 0% of GDP. Friedman and Schwartz highlight the failure to increase the money supply whilst liquidity was tight as the primary cause. Bordo and Landon-Lane provide econometric analysis using examiners’ reports on failed banks that support this argument. Epstein and Ferguson have suggested that Federal Reserve officials understood that monetary conditions were tight but believed that a contraction was a necessary corrective. The otion that governments should ‘let nature take its course’ formed a central pillar of the contemporary economic orthodoxy. However, other economic historians have pointed out that Federal officials believed that monetary policy was actually loose, due to them conflating low nominal interest rates with low real interest rates (which were high as a result of deflation). Wicker argues that Federal Reserve officials feared that o pen market purchases would renew gold outflow by bring into question the Federal Reserve’s commitment to maintaining gold convertibility. When faced with a policy choice the Federal Reserve always opted to support the Gold Standard. Rather than shore up the battered banking system, the Federal Reserve raised interest rates during late 1931 and the winter of 1932-3 to protect the dollar from speculation in order to halt gold losses. Regardless of the deficiencies of Federal Reserve policy, the US entered the 1930’s with a poorly regulated banking system that was undercapitalised and based on unit banking. Calomiris and Mason argue that eventually, banking collapse would have been inevitable. In general, economists argue that the depth of the downturn is explained by the monetary shocks interacting with the dramatic falls in demand (that emanated from the collapse in investment and consumption). Loss of income and uncertain employment conditions combined to undermine consumer spending, whilst there was little incentive to invest while prices were falling. Deflation also increased the burden of existing debt. Fiscal policy did not fill the gap in demand as belief in the Gold Standard and balanced budgets prevailed. A coherent theoretical justification for expansionary fiscal policy was absent from the contemporary economic discourse. Expansionary fiscal policy remained unused, even after states left the Gold Standard. In Europe, fears of inflation weighed heavy on the minds of policymakers. The dominant view in Washington was that over-production was responsible for the crisis. Consequently, the New Deal spending was funded by tax increases. Roosevelt concentrated on limiting competition, sharing work and promoting high wages in order to increase purchasing power. Cole and Ohanian argue that these policies undermined the recovery by raising real wages and unemployment. The consensus view is that, by subordinating monetary and fiscal policy towards maintaining gold parity, the Gold Standard transmitted the crisis to the rest of the world. The return to the Gold Standard, after the First World War, was unbalanced. Countries such as France and Belgium joined at exchange rates that were well below their 1913 levels which gave them a substantial competitive advantage. Conversely, after a deflationary squeeze, the UK re-joined at its 1913 exchange rates, leaving the sterling over-valued. The US and France exasperated the problem, by sterilising (so not to inflate the money supply) the gold that they accumulated (sixty per cent of the world’s gold supply by 1928). The lack of reserves forced many countries into further deflation. The world economy could only be kept going by the US economy continuing to absorb imports and provide international lending to cover gold shortages. By 1928, the US proved unwilling to do the latter and was eventually unable to do the former. During the depression, this austerity debilitated economies and resulted in banking collapses, notably in Germany and Austria. In response to the systemic threat posed by the imminent German banking collapse, the nations in a position to offer assistance acted unilaterally. President Hoover proposed a one year moratorium on reparations and war debt. The French, furious at the lack of consultation opposed the measure, believing that they lost more than they gained. Instead, they made an offer of help to the Germans that attached political conditions that made it impossible for the Germans to accept. Ultimately, international co-operation proved impossible as states that were able to help were unwilling to risk their own privileged positions. Between 1929 and 1932, the volume of world trade fell by 25%, about half of which was due to higher trade barriers. The Smoot-Hawley Act in 1930 is often cited as the genesis of protectionist policies, but Irwin points out that the protectionist avalanche did not begin until the world financial crisis struck in 1931. Irwin locates the incipience of this round of protectionism in the ‘open economy trilemma’ which limits countries to choosing two of three objectives: a fixed exchange rate, an independent monetary policy, and open trade policies. In attempting to marry membership of the Gold Standard with independent monetary policy, policymakers adopted protectionist measures. Countries that maintained gold parity such as France and Switzerland used import quotas on 50-60% of their imports. Whereas, the Sterling block countries which allowed their currencies to devalue, only used import quotas on 5-10% of their imports. In the wake of the financial meltdown, policymakers in the US attempted significant banking reform with the Emergency Banking Act in 1933 followed by the Banking Acts of 1933 and 1935. Deposit insurance was created, and it brought an end to bank runs. The Reconstruction Finance Corporation was formed to provide capital to banks. It was successful to the extent that it owned stock in nearly half of all commercial banks by March 1934. Investment and commercial banking were separated, though White has provided evidence that banks that engaged in both commercial and investment banking were better diversified and were less likely to fail than banks that specialised in just one area. Calomiris also sees the legislation as flawed, as it preserved unit banking, which was a major source of instability in the banking system. The Great Depression altered economic thinking and policy. Hannah and Temin argue that it led to an emphasis on correcting market failures through government intervention. Federal spending rose, and inter-state transfers became acceptable. Though, unlike the UK, there was no move to Keynesian demand management in the US. The Great Depression also left a legacy in terms of the macroeconomic trilemma. Controls on international capital movements remained with the return to pegged exchange rates under the Bretton Woods Agreement which allowed independent monetary policy. Economists such as Wray have seen the policy legacy of the Great Depression as having constrained the destabilising role played by finance. Moreover, it provided the framework for an unprecedented period of prosperity after the Second World War. In response to the Great Financial Crisis, policymakers have been largely cognisant of the lessons of the 1930’s. The Federal Reserve officials of the 1930’s argued that they could not increase credit by purchasing government securities as they were not eligible as collateral. In contrast, based on Bernanke’s view that banking collapse leads to a failure of the credit allocation mechanism, the Federal Reserve combining with the Treasury created a range of extensions to its discount window to encompass every kind of collateral in the hope of unblocking the credit markets. States co-ordinated massive injections of liquidity (double digits fractions of GDP in advanced economies). The Bank of England, the Bank of Japan and the Federal Reserve undertook large scale quantitative easing. Interest rates were reduced to almost zero in the US and Britain and to very low levels in Europe and elsewhere. Governments nationalised insolvent institutions deemed ‘too big to fail’ such as Freddie Mac and Fannie Mae in the United States, BNP Paribus in France and Northern Rock in Britain. Despite China’s minimal direct exposure to the financial crisis, its response to the downturn in demand has been sweeping. Focusing on developing infrastructure it undertook a stimulus package that amounted to 14% of GDP in 2008. Keen notes that the massive amount of government spending in 2010 meant that government debt was responsible for 12% of aggregate demand in contrast to only 1. % of aggregate demand between 1930 and 1932. Furthermore, unlike the 1930’s, governments have not tried to over-ride, the now much larger, automatic stabilisers. However, the experience of the 1930’s has not effectively militated upon the policy makers of the Eurozone, where a dramatic collapse in employment and living standards has mirrored the Great Depression. Like the Gold Standard, th e Euro was unbalanced from its inception as the weaker economies joined at a relatively high rate of exchange on the premise of avoiding inflation. The gap in competitiveness has widened due to Germany suppressing nominal wages much more effectively than the rest of the Eurozone. Easy credit provided to peripheral areas by German banks created markets for German exports and saddled those areas with debt. Monetary and fiscal policy has focused on creating an international currency to rival the dollar. Consequently, monetary policy has targeted inflation through low interest rates. As monetary policy is unitary, the peripheral economies are denied the opportunity to reflate their economies. Furthermore, unlike other major advanced economies since the crisis began, the Eurozone has required that Fiscal policy be placed under tight constraints via the Fiscal Stability Pact. The retrenching of the crisis on to sovereigns has exposed a central weakness of the Eurozone project. The ECB supports banks but lacks the power to support states. Similar to the deflation that was necessary under the Gold Standard, the peripheral economies of the Eurozone are locked into a mutually reinforcing cycle of debt and austerity. Having pursued national self-interest from the euro’s inception, Vines argues Germany is unwilling to provide the hegemonic leadership that its responsibilities in Europe require of it. Though, Lapavitas et al argue that abandoning fiscal discipline would be incompatible with the avowed aim of maintaining a currency that attempts to compete with the dollar. The value of the euro would probably fall, destroying the large Eurozone banks’ ability to operate internationally. If German policy has followed narrow self-interest to the detriment of others, it has not been alone. China has held down their exchange rates over a long period of time. It is widely estimated that Chinese currency is 30% to 40% overvalued. Martin Wolf of the Financial Times has asserted that Chinese interventions to keep the exchange rate down are tantamount analytically to trade protectionism. Judging by its reserves it has ‘†¦kept its exchange rate down to a degree unmatched in economic history. ’ States have also been quick to ‘ring-fence’ assets in their own jurisdiction. For example, the fear of the imminent collapse of the Icelandic banks led UK supervisors to resort to using the Anti-Terrorism, Crime and Security Act to ring fence Icelandic bank assets in the UK. Claessens et al point out that in general, national interventions have been uncoordinated and driven by pure national interest. However, the major international banks have co-ordinated massive injections of liquidity into the system at various points. Moreover, protectionism has not been a feature of the current crisis in the way that it was during the great depression. Research has shown that only 2% of falls in world trade in 2008-9, can be attributed to trade barriers. This can be primarily attributed to the system of flexible exchange rates, the lessons learnt from the great depression and the system of trade rules overseen the WTO. As of yet following the great financial crisis, there has not been significant banking reform. Attempts at co-ordinated international regulation have proved difficult. The former governor of the Bank of England Mervyn King attributes this to the heightened awareness that global banks are global in life and national in death. The draft proposals for the Basel III accords put forward some significant reforms which were ultimately watered down. Key elements such as a mandatory countercyclical capital buffer were omitted from the final agreement. Although the accords raised the minimum capital requirements, they are still held by many economists to be too low. Attempts at reform including the Dodds-Frank Act have not addressed the problem of ‘Too Big to Fail Banks’ (whose size necessitates that they be bailed out in the event of insolvency due to the systemic risk that they pose). A situation of moral hazard thereby exists where banks know they can engage in any risky behaviour they like. If anything should go wrong they know they will be bailed out by the state. In summary, the response to the Great Financial Crisis has differed from the Great Depression as a result of the increased understanding of macroeconomics. The scale of the policy response to the Great Financial Crisis would have been unthinkable during the Great Depression era. Despite the unprecedented response, the economic crisis that began with the financial crisis in 2007-8 is far from over and many problems remain. In the advanced economies, growth has been weak and fears of a triple dip recession persist. The Great Depression precipitated a reappraisal of policy by policymakers and resulted in considerable changes in policy. This has not happened so far to the same extent in response to the Great Financial Crisis. Many of the policy mistakes of the Great Depression have been avoided. The challenge now is to construct a macroeconomic framework that can aid the recovery and eventually facilitate a new period of economic expansion. The change in policies as a result of the Great Depression had some success in this respect. Banking regulation proved inadequate prior to both crises. In response to the Great Financial Crisis, this has yet to be rectified. This time policymakers will have to tackle the issue of ‘too big to fail’ banks. In the Eurozone, Germany has taken on the role of both the US and France during the Great Depression by failing to shore up weaker areas and by pursuing policies to the detriment of everybody else. During the Great Depression, the most important factor in the recovery was the abandonment of the Gold Standard. The countries that devalued in 1931 performed much better than those who had continued with exchange controls. The cost of reverting back to a national currency makes leaving the Euro and devaluing a less viable option for the Eurozone states. Bibliography Barrell, R. and Holland, D. ‘Monetary and Fiscal Responses to the Economic Downturn,’ National Institute Economic Review, No. 211, (Jan 2010) pp. 51-62. Bernanke, B. , ‘Nonmonetary Effects of the Financial Crises in the Propagation of the Great Depression,’ American Economic Review (June 1983), pp. 257-76. Bordo, M. and Landon-Lane, J. , ‘The banking panics in the United States in the 1930s: som e lessons for today,’ Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 486–509. Calomiris, C. and Mason, J. , ‘Consequences of Bank Distress during the Great Depression,’ American Economic Review, Vol. 93, (2003a), pp. 937–47. Calomiris, C. , Monetary Policy and the Behavior of Banks: Lessons from the 1930s for the 2010s. 28th March 2011. Accessed: 16th December 2011. www. economics21. org/files/pdfs/in-depth /calomiris-spring-11. pdf Claessens, S. , Dell’Ariccia, G. , Igan, D. , and Laeven, L. , ‘Lessons and Policy Implications from the Global Financial Crisis,’ IMF Working Paper, No. 14 (2010). Cole, H. and Ohanian, L. , ‘New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis,’ Federal Reserve Bank of Minneapolis Research Department, Working Paper No. 597, (July 2000). Crafts, N. nd Fearon, P. , ‘Lessons from the 1930s Great Depression,’ Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 285–317. Epstein, G. , and Ferguson, T. , ‘Monetary Policy, Loan Liquidation, and Industrial Conflict: The Federal Reserve and the Open Market Operations of 1932,’ Journal of Economic History (December 1984 ), pp. 957-83. Fishback, P. , ‘US Monetary and Fiscal Policy in the 1930s,’ Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 385–413. Friedman, M. and Schwartz, A. , A Monetary History of the United States, 1867-1960’ (Princeton: Princeton University Press, 1963). Goldstein, M. , ‘Integrating Reform of Financial Regulation with Reform of the International Monetary System,’ Peterson Institute for International Economics, Working Paper No. 11-5 (February 2011). Irwin, D. , ‘Trade Policy Disaster: Lessons from the 1930’s’ (Cambridge: MIT Press, 2011). Kee, H. L. , Neagu, C. , and Nicita, A. , ‘Is Protectionism on the Rise? Assessing National Trade Policies during the Crisis of 2008,’ World Bank Policy Research Working Paper No. 5274, (2010). Keen, S. , Empirical and theoretical reasons why the GFC is not behind us. 13th June 2010. Accessed: 16th December 2011. http://www. debtdeflation. com/blogs/2010/06/13/empirical-and-theoretical-reasons-why-the-gfc-is-not-behind-us/ Keynes, J. M. , ‘An Economic Analysis of Unemployment,’ From Q. Wright (ed. ), Unemployment as a World Problem, (Chicago: University of Chicago Press, 1931). Lapavitsas, C. , Kaltenbrunner, A. , Lindo, D. , Michell, J. , Painceira, J. P. , Pires, E. , Powell, J. , Stenfors, J. , and Teles, N. , ‘Eurozone crisis: beggar thyself and thy neighbour,’ Journal of Balkan and Near Eastern Studies, Vol. 12, No. 4 (2010), pp. 321-373. Hannah, L. , and Temin, P. 2010), ‘Long-term Supply-side Implications of the Great Depression,’ Oxford Review of Economic Policy, Vol. 26, No. 3, pp. 561–80 Helleiner, E. and Pagliari, S. , ‘The End of an Era in International Financial Regulation? A Postcrisis Research Agenda,’ International Organization, Vol. 65, (Winter 2011), pp. 169–200 Vines, D. , Ã¢â‚¬Ë œThe Global Macroeconomic Crisis and G20 Macroeconomic Policy Coordination,’ The Journal of Applied Economic Research, Vol. 4, No. 2, (2010) pp. 157-175. Vines, D. , ‘Fiscal Policy in the Eurozone After the Crisis,’ Paper prepared for lunchtime talk at Macro Economy Research Conference on Fiscal Policy in he Post Crisis World, (Tokyo, 16 November, 2010). Wheelock, D. , ‘Monetary Policy in the Great Depression: What the Fed Did, and Why,’ Federal Reserve Bank of St. Louis Review, Vol. 74, No. 2, (March/April 1992) pp. 3-28. White, E. N. (1986), ‘Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks,’ Explorations in Economic History, Vol. 23, pp. 33–55. Wicker, E. , ‘Federal Reserve Monetary Policy, 1917-1933’ (Random House, 1966). Wolf, M. ,‘Why China’s Exchange Rate Policy Concerns Us,’ Financial Times (8th of December 2009) Wray, L. R. , ‘The rise and fall of money manager capitalism: a Minskian approach,’ Cambridge Journal of Economics, Vol. 33, (2009) pp. 807–828. Yu, Y. , China’s Policy Responses to the Global Financial Crisis, Richard Snape Lecture, Productivity Commission, Melbourne (25th November 2009). [ 1 ]. N. Crafts and P. Fearon, Lessons from the 1930s Great Depression, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 287 [ 2 ]. J. M. Keynes, ‘An Economic Analysis of Unemployment’, from Q. Wright (ed. , Unemployment as a World Problem, (Chicago: University of Chicago Press, 1931). [ 3 ]. C. Calomiris and J. Mason, Consequences of Bank Distress during the Great Depression, American Economic Review, Vol. 93, (2003a), pp. 937–47 [ 4 ]. M. Friedman and A. Schwartz, A Monetary History of the United States, 1867-1960, (Princeton: Princeton University Press, 1963) [ 5 ]. M. Bordo and J. Landon-Lane, The Banking Panics in the United States in the 1930s: Some Lessons for Today, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 486–509 [ 6 ]. G. Epstein and T. Ferguson, Monetary Policy, Loan Liquidation, and Industrial Conflict: The Federal Reserve and the Open Market Operations of 1932, Journal of Economic History (December 1984), pp. 957-83. [ 7 ]. P. Fishback, US Monetary and Fiscal Policy in the 1930s, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), p. 394. [ 8 ]. E. Wicker, Federal Reserve Monetary Policy, 1917-1933, (Random House, 1966) [ 9 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, p. 292 [ 10 ]. Calomiris and Mason, Consequences of Bank Distress during the Great Depression, pp. 937–47 [ 11 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 291-3 [ 12 ]. Fishback, US Monetary and Fiscal Policy in the 1930s, pp. 401-5 [ 13 ]. Cole and Ohanian, New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis, Federal Reserve Bank of Minneapolis Research Department, Working Paper No. 597, (July 2000), p. 41. [ 14 ]. Ibid. pp. 294-5 [ 15 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 295 [ 16 ]. D. Irwin, Trade Policy Disaster: Lessons from the 1930’s, (Cambridge: MIT Press, 2011) Ch. 1 [ 17 ]. Ibid. , Ch. 4 [ 18 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 304-5 [ 19 ]. E. White, Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks, Explorations in Economic History, Vol. 23, (1986), pp. 33–55. [ 20 ]. C. Calomiris, Monetary Policy and the Behavior of Banks: Lessons from the 1930s for the 2010s. 28th March 2011. Accessed: 16th December 2011. www. economics21. org/files/pdfs/in-depth /calomiris-spring-11. pdf [ 21 ]. L. Hannah and P. Temin, (2010), Long-term Supply-side Implications of the Great Depression, Oxford Review of Economic Policy, Vol. 26, No. , (2010), pp. 561–80 [ 22 ]. White, Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks, pp. 33–55. [ 23 ]. L. Wray, The Rise and Fall of Money Manager Capitalism: A Minskian Approach, Cambridge Journal of Economics, Vol. 33, (2009) pp. 813 [ 24 ]. Bernanke, B. , Nonmonetary Effects of the Financial Cr ises in the Propagation of the Great Depression, American Economic Review (June 1983), pp. 257-76. [ 25 ]. R. Barrell and D. Holland, Monetary and Fiscal Responses to the Economic Downturn, National Institute Economic Review, No. 211, (Jan 2010) p. 56 [ 26 ]. Y. Yu, China’s Policy Responses to the Global Financial Crisis, Richard Snape Lecture, Productivity Commission, Melbourne (25th November 2009) pp. 9-10 [ 27 ]. S. Keen, Empirical and theoretical reasons why the GFC is not behind us. 13th June 2010. Accessed: 16th December 2011 [ 28 ]. C. Lapavitsas et al, Eurozone crisis: beggar thyself and thy neighbour, Journal of Balkan and Near Eastern Studies, Vol. 12, No. 4 (2010), p. 367 [ 29 ]. D. Vines, Fiscal Policy in the Eurozone After the Crisis, Paper prepared for lunchtime talk at Macro Economy Research Conference on Fiscal Policy in the Post Crisis World, (Tokyo, 16 November, 2010). 30 ]. Lapavitsas et al, Eurozone crisis: beggar thyself and thy neighbour, p. 367 [ 31 ]. D. Vines, The Global Macroeconomic Crisis and G20 Macroeconomic Policy Coordination, The Journal of Applied Economic Research, Vol. 4, No. 2, (2010) pp. 157-175 [ 32 ]. M. Wolf, Why China’s Exchange Rate Policy Concerns Us, Financial Times (8th of December 2009) [ 33 ]. S. Claessens et al, Lessons and Policy Implications from the Global Financial Crisis, IMF Working Paper, No. 14 (2010) p. 16 [ 34 ]. L. Kee et al, Is Protectionism on the Rise? Assessing National Trade Policies during the Crisis of 2008, World Bank Policy Research Working Paper No. 5274, (2010), p. 3 [ 35 ]. E. Helleiner and S. Pagliari, The End of an Era in International Financial Regulation? A Postcrisis Research Agenda, International Organization, Vol. 65, (Winter 2011), p. 184 [ 36 ]. M. Goldstein, Integrating Reform of Financial Regulation with Reform of the International Monetary System, Peterson Institute for International Economics, Working Paper No. 11-5 (February 2011), pp. 5-7. [ 37 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 311

Turbo C for dummies essays

Turbo C for dummies essays ************************************** WELCOME TO TURBO C++ FOR WINDOWS 4.5 ************************************** This README file contains important information about TURBO C++ FOR WINDOWS 4.5 (TCW). For the latest information about TCW and its accompanying programs, read this entire Installing Turbo C++ on your hard disk Importing Project Files from Borland C++ 4.x ObjectComponents Framework (OCF), OLE 2.0, and ObjectWindows 2.5 Registering debugging versions of OLE servers under TCW New file in WINDOWSSYSTEM directory New tools for registering OLE servers and automation controllers Debugging OLE applications under Windows NT OLE error codes OLE2 applications OLE implementation under Windows NT OLE2 compiler options VBX Controls Included with TCW OpenHelp with TASM Limitation in DOCVIEW.IDE DDVT functions and RTTI Inline assembly and interrupts Creating 16-bit import libraries from .DEF files IDE/Integrated Debugging InProc servers and the IDE Running from a Windows 3.1 DOS Prompt Converting TCW 3.1 to TCW 4.5 code C/C++ Language Features ********************************************* ********************************************* If you have any problems, please read this file, the HELPME.WRI and other files in your DOC subdirectory, and ********************************************* ********************************************* Do not install TCW 4.5 over previously installed TCW directories. The files in this distribution will not...

How has the 2010 earthquake in Haiti affected the tourism in Haiti Research Paper

How has the 2010 earthquake in Haiti affected the tourism in Haiti - Research Paper Example In fact after WWII, Haiti was among the leading countries that had taken advantage of the international tourism that had aroused from the global economic restoration. This had created in Haiti an estimate of more than 60,000 direct and indirect jobs, contributed a 3.5% share to the country’s GDP, and earned an annual income of $50 million. (International Monetary Fund 34) According to Americas, during 1950s and ‘60s Haiti had been one of the strongest competitors in the tourism industry in the Caribbean (qtd. in Pawlowski 1). However, the development of tourism in Haiti has been historically lopsided and marred with many setbacks. Even during the most auspicious times, Haiti’s tourism has never attracted a significant portion of the total Antilles tourist market. Only Labadie on the northern coast has achieved consistent success, being the docking site of tourist cruises in the Caribbean (Lundahl 64). It was in Labadie where the Royal Caribbean Cruise Line has bee n landing in Haiti for nearly 30 years, without informing tourists that it is actually part of Haiti, instead referring to it as an ‘island’ on Hispaniola (Lazar, par. 12-3; Pawlowski 2). ... ne Preval in 2004 has brought a slow yet better changes to Haiti, such as, a stabilizing Haiti’s political climate; a steadying economic growth since 2006 (Lies 43-4) with an improved annual growth rate from 1.8% (2005) to 2.4% (2009) (International Crisis Group 8); and positive prospects to Haiti’s tourism industry. In fact, before the earthquake a number of positive indicators show renewed interest for Haiti as a tourist destination in the Caribbean. For example, the Choice Hotels plans to establish two hotels in Jacmel, Southern Haiti; a second international airport in Cap-Haitien is to be built by Venezuela; and a positive review and promotion on Haiti as one of the most exciting travel destination is being plugged by Lonely Planet. (Pawlowski 1-2) Seeing tourism more from an economic perspective, which Pearce defined as â€Å"tourism’s ability to generate income, jobs and corporate profits, bring in foreign exchange, boost tax revenues, diversify the econom y and aid regional development,† (qtd in Pearce 4) despite its not yet so stable political climate and fragile security situation, Haiti’s tourism is getting its boost to improve the country’s poor economy. Then in one instant, a natural disaster had crumbled to the ground the small gains yet vital start to bounce back Haiti’s tourism, leaving Haiti in a far more dismal state. Earthquake in Haiti’s Tourism Even after the largest and most devastating earthquake that had ever hit Haiti on the 12th of January 2010, Haiti’s tourism is still widely seen to be the country’s key to economic recovery, citing northern Haiti, which fortunately was spared of the earthquake wreckage, as the country’s focus of tourism development (Smets, par. 8). With the earthquake having literally ruined Port-au-Prince