Importance of Setting in Charlotte Brontes Jane Eyre Essay -- Jane Ey

Is Street Crime More Harmful Than White Collar Crime Essays

Is Street Crime More Harmful than White Collar Crime? By general definition, a wrongdoing is a wronging, broadcasted by law against society. All demonstrations of defying the law are wrongdoings. Be it an attack or misappropriation one has submitted a wrong. However we have taken in qualities and ethics from our environmental factors which gave us ideas of the level of damage relating to a specific wrongdoing. From our being lowered in a culture, our idea of wrongdoing is typically that of a physical one. We as a general public, by and large summon pictures of an individual ambush on oneself when characterizing the idea of a wrongdoing. Rarely would ones first meaning of wrongdoing be of an official of an enormous firm taking cash from the business. We as a general public, for the most part characterize our ideas by our environmental factors. Society is all the more every now and again presented to road wrongdoings. It is extremely uncommon that daily passes by that we don't become familiar with a homicide, physical assault or theft thr ough the media. Those alleged road violations impact our neighborhoods and society regular. Those violations are adding to the obliteration of society, our urban communities, our lanes. The road wrongdoing is the most unsafe of violations, it is answerable for the breaking down of society as we probably am aware it. To exhibit the damage brought about by society by road wrongdoing, one needs to look no farther than to downtown neighborhoods. Road wrongdoings are liable for wounds, demise, rapes and the loss of individual property through power. They can likewise be ascribed to the decay of nearby business and the drop in instruction and pride in ones networks also. In the lower monetary neighborhoods, many retreat to wrongdoing for money related reasons. Individuals from the network sell medicates or burglarize as methods for help. These degenerates don't cause these violations on neighborhoods other than their own. This is the significant motivation behind why road wrongdoing is so hurtful. The citizenry through their unlawful activities are devastating society. Because of an expansion in road wrongdoing, organizations shut down right on time and individuals abstain from being in the city. This permits the degenerate, liberal chance to overstep the law. Where cubicle wrongdoing doesn't straightforwardly impact society, road wrongdoing does. The savage degenerate exploits society both straightforwardly and in a roundabout way. Direct exploitation is the individual assault, be it a burglary ambush or blackmail, people in the public eye will respond. Individuals live in consistent dread of being a casualty of wrongdoing. This individual dread can prompt roundabout exploitation, that on society all in all. This is clear in an areas loss of monetary turn of events and criminal degenerates become the good example for the more youthful citizenry because of their appearance as a figure of riches and influence. These road wrongdoings lead to the descending winding of society monetarily and ethically. Another part of how road wrongdoing ruins society is that the demonstration is generally dedicated inside the general public itself. Most road wrongdoings are submitted by degenerates to the individuals from their own neighborhoods. This is beca use of the closeness of their potential casualties. This is the reason neighborhoods which typically create the reason for freak conduct, for the most part have a higher pace of wrongdoing happening inside them. While all violations are a wrong dedicated against society, some harm society then others. Road wrongdoings are maybe the most unsafe to society, brought about by the freak criminal conduct on ones own neighborhood, this causes its decimation. Road wrongdoing has caused the legitimate affordable, instructive and moral decreases in numerous areas. Fierce road wrongdoing isn't just a wrong against a person of society however a demonstration in the disintegrating of society itself.

The Types and Benefits of Meditation

The Types and Benefits of Meditation Meditation Print The Types and Benefits of Meditation By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Medically reviewed by Medically reviewed by Daniel B. Block, MD on November 17, 2019 twitter linkedin Daniel B. Block, MD, is an award-winning, board-certified psychiatrist who operates a private practice in Pennsylvania. Learn about our Medical Review Board Daniel B. Block, MD Updated on February 20, 2020 Javier Snchez Mingorance/ Getty Images More in Self-Improvement Meditation Happiness Stress Management Spirituality Holistic Health Inspiration Brain Health Technology Relationships View All There are a number of different things that people can do to alter their states of consciousness, from practicing hypnosis to using psychoactive drugs to taking a nap. While some methods, like drug use, can be harmful, others, including hypnosis, sleep, and meditation can have a positive impact on health. Meditation is also a consciousness-changing technique that has been shown to have a wide number of benefits on psychological well-being.?? What Exactly Is Meditation? Meditation can be defined as a set of techniques that are intended to encourage a heightened state of awareness and focused attention. Some key things to note about meditation: Meditation has been practiced in cultures all over the world for thousands of yearsNearly every religion, including Buddhism, Hinduism, Christianity, Judaism, and Islam, has a tradition of using meditative practicesWhile meditation is often used for religious purposes, many people practice it independently of any religious or spiritual practicesMeditation can also be used as a psychotherapeutic techniqueThere are many different types of meditation Types of Meditation Meditation can take on many different forms, but there are two main types: concentrative meditation and mindfulness meditation. How do these two forms of meditation differ? In concentrative meditation, you focus all of your attention on a specific object while tuning out everything else around you. The goal is to really experience whatever you are focusing on, whether its your breath, a specific word or a mantra, in order to reach a higher state of being.Mindfulness meditation includes, among others, both  mindfulness-based stress reduction (MBSR) and mindfulness-based cognitive therapy (MBCT). Mindfulness can target different issues, such as depression, which means that its focus may be different from practice to practice. Overall, it involves the state of being aware of and involved in the present moment and making yourself open, aware and accepting.   The Effects and Benefits of Meditation Research has shown that meditation can have both physiological and psychological effects. Some of the positive physiological effects include a lowered state of physical arousal, reduced respiration rate, decreased heart rate, changes in brain wave patterns and lowered stress.?? Some of the other psychological, emotional, and health-related benefits of meditation include: Increased self-awarenessBetter stress management skillsImproved emotional well-beingBetter management of symptoms of conditions including anxiety disorders, depression, sleep disorders, pain issues, and high blood pressureImprovement in working memory and fluid intelligenceChanges in different aspects of attention Consciousness is often likened to a stream, shifting and changing smoothly as it passes over the terrain. Meditation is one deliberate means of changing the course of this stream, and in turn, altering how you perceive and respond to the world around you. While experts do not yet fully understand exactly how meditation works, research has clearly demonstrated that meditative techniques can have a range of positive effects on overall health and psychological well-being.

The Crucible By Arthur Miller - 942 Words

A twisted part of American history is well explained throughout the play. The Crucible by Arthur Miller. After a group of young girls got caught dancing around naked in the forest by Rev. Parris all kinds of crazy let loose. In turn of the girls being caught, Rev. Parris wants to protect his family name by covering it up and accusing others of witchcraft.The girls go on and on listing people who were ‘involved’ in the act of witchery. Abigail Williams, the heart of most of the problems that came about in Salem. Her wanting of Proctor leads to vengeance towards Elizabeth. Rev. Parris calls for Rev. Hale of Beverly to come and help remove witchery from the town of Salem. Once time to do the trials judge Danforth immediately starts the hanging for punishment. Mary Warren and John Proctor try to go to the court and tell them that it is all a lie and that the girls were just accusing others so that they wouldn’t be hanged. There are four main keys in this play that b ring out different sides to all the characters. Hysteria being Abigail Williams, reputation being Rev. Parris, intolerance being Elizabeth not letting John lie to her, and lastly empowerment being John in Act III. The events in the play show the true colors of some who try to keep their name as clean as it was before the witchery came into the town of Salem. When Rev. Parris finds his niece Abigail Williams, and his daughter Betty in the woods with his worker Tituba dancing around the fire. He yells at them andShow MoreRelatedThe Crucible By Arthur Miller1269 Words   |  6 PagesAt first glance, the playwright Arthur Miller in The Crucible highlights the historical significance of the Salem Witch Trials of 1692, but in fact it is an allegorical expression of his perception of McCarthyism. If the reader has some background information on Arthur Miller’s victimization as a communist, it is evident that the play is a didactic vessel illustrating the flaws of the court system in the 1950’s. The communist allegations were launched at government employees, entertainers and writersRead MoreThe Crucible By Arthur Miller1681 Words   |  7 Pagesof their way to the last dying breath to make sure they leave with a good or bad reputation. In one of the recent literature study in class â€Å"The Crucible† by Arthur Miller, Miller uses characterization to illustrate reputation throughout the play. â€Å"The Crucible† takes place in Salem, Massachusetts. It is based upon the Salem witch trails. In â€Å"The Crucible†, we journey through the life of three characters who reputations plays a major role in the play. 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But the third definition, and the one that I think fits the best for this book, is a place or situation in which different elements interact to create something new. In my mind, this fits because all of the characters had their little grudges and dirty secrets. But when all th ose seemingly little things interact, they formed somethingRead MoreThe Crucible By Arthur Miller1285 Words   |  6 Pages Rationale, Morality, Stereotypes, Pressure, Self-Censorship, Unanimity, and Mindguards. Groupthink has also taken place in our history a a country. The play, The Crucible by Arthur Miller is about a the real-life Salem Witch Trials that happened in 1692 - 1693, in Salem, Massachusetts. Some symptoms of Groupthink found in the Crucible are Rationale, Pressure, and Self-Censorship. 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The book is known to have a inexplicable plot. This plot is advanced by multiple characters in the book in order to ensure that the reader maintains interest with the material that is being read. The farmer, John Proctor, would be theRead MoreThe Crucible By Arthur Miller841 Words   |  4 PagesThe Crucible is a chaotic play, throughout this American classic Arthur Miller takes the reader through multiple events of terror and insanity. While creating a great on-stage play, Arthur Miller portrays his life through the events, the characters, and plot of The Crucible. Using vivid imagery and comprehensible symbolism, Miller manipulates the real personalities of the characters and events in 1600 Salem, Massachusetts to create a symbolic autobiography. Throughout this play, the reader experie nces

Assessment And Critique Thematic Apperception Test

Assessment and Critique: Thematic Apperception Test Brian Kees Oklahoma State University Abstract Assessment and Critique: Thematic Apperception Test General Test The Thematic Apperception Test or TAT was developed during the 1930s by the American psychologist Henry A. Murray and psychoanalyst Christiana D. Morgan at the Harvard Clinic at Harvard University. The TAT is published by Harvard University Press. The cost is $81 per test. The test takes a total of 200 minutes to give. It is given in two 100-minute sessions one day apart. The population that the TAT is given to are ages 4 and over. Brief Description of Purpose and Nature of the Test The Thematic Apperception Test is a projective personality test. The idea behind the technique is that the subjects responses, in the narratives they construct about ambiguous pictures of people, reveal their subconscious motives, concerns, and the way they interpret the social world. The TAT was described by Murray as â€Å"a method of revealing to the trained interpreter some of the dominant drives, emotions, sentiments, complexes and conflicts of a personality (Murray, 1935, p.132). The TAT is frequently given to individuals as part of a battery, or group, of tests intended to assess personality. Ideally the TAT elicits information about a person s sense of the world and her perspective toward the self and others. As individuals taking the TAT proceed through the various storyShow MoreRelatedThe Big Five Personality Traits Essay1987 Words   |  8 PagesThere are two methods of measuring personality: projective tests and self-inventory tests. Projective tests are based on an individual’s responses to ambiguous stimuli such as images or words (Murphy Davidshofer, 1988). As it was suggested that personality is controlled by unconscious desires or ideas, this type of test is designed to disclose unconscious urges that are concealed from our consciousness (Passer Smith, 2004). Projective tests comprise ambiguous stimuli to induce subjects to projectRead MoreSentence Completion Test5817 Words   |  24 PagesJOURNAL OF PERSONALITY ASSESSMENT, 74(3), 371â⠂¬â€œ383 Copyright  © 2000, Lawrence Erlbaum Associates, Inc. Sentence Completion Tests: A Review of the Literature and Results of a Survey of Members of the Society for Personality Assessment Margot Holaday, Debra A. Smith, and Alissa Sherry Department of Psychology University of Southern Mississippi Test usage surveys consistently find that sentence completion tests (SCTs) are among the most popular personality assessment instruments used by practitionersRead MoreBrand Association4961 Words   |  20 PagesMeasurement of Brand Associations Less Structured Approaches Structured Approaches 4. Research in Brand Associations Brand Extensions Branding Country ofOrigin Celebrity Brand Preferences Product Attributes Brand Associations and Brand Equity 5. Critique of Research in Brand Associations Techniques used Operational Definitions Clarity of Image Brand Association Strength Other Constructs Moderating Variables 6. Future Research Directions Theoretical and Practical constructs Techniques Used MultipleRead MoreSummary of the Hidden Persuaders by Vance Packard5072 Words   |  21 Pages| Book Summary and Critique: The Hidden Persuaders Summary of THE HIDDEN PERSUADERS by Vance Packard  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1. The Depth Approach. This book is about the large-scale -- and sometimes impressively successful -- efforts to use insights from psychiatry and the social sciences (and provided all too willingly by cooperative psychologists and social scientists) to channel our unthinking habits, our purchasing decisions, and our thought processes. The use of mass psychoanalysis to guide campaigns ofRead MoreMethods of Qualitative of Data Collection19658 Words   |  79 Pagesqxd 112 2/1/2006 3:16 PM Page 112 DESIGNING QUALITATIVE RESEARCH help move the field forward, but Rossman’s experience in her graduate teaching, working intensively with students whose first language (or even second or third) is not English, critiques their discussion as naà ¯ve. Addressing each of the issues in turn, she takes the position that none is problematic. First, she says that there is an ethical imperative to inform the reader that translation has occurred and to address how this willRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesmymanagementlab is an online assessment and preparation solution for courses in Principles of Management, Human Resources, Strategy, and Organizational Behavior that helps you actively study and prepare material for class. Chapter-by-chapter activities, including built-in pretests and posttests, focus on what you need to learn and to review in order to succeed. Visit www.mymanagementlab.com to learn more. DEVELOPING MANAGEMENT SKILLS EIGHTH EDITION David A. Whetten BRIGHAM YOUNG UNIVERSITY

Factors Affecting Share Prices Free Essays

string(89) " International Research Journal of Finance and Economics – Issue 30 \(2009\) 78 1\." International Research Journal of Finance and Economics ISSN 1450-2887 Issue 30 (2009)  © EuroJournals Publishing, Inc. 2009 http://www. eurojournals. We will write a custom essay sample on Factors Affecting Share Prices or any similar topic only for you Order Now com/finance. htm Determinants of Equity Prices in the Stock Markets Somoye, Russell Olukayode Christopher Dept. of Banking Finance, Faculty of Management Science Olabisi Onabanjo University, Ago Iwoye, Nigeria P. O. Box 1104 Ijebu-Ode, Ijebu-Ode, Ogun State, Nigeria E-mail: kayodesomoye@yahoo. com Akintoye, Ishola Rufus Dept. of Accounting, Faculty of Management Science Olabisi Onabanjo University, Ago Iwoye, Nigeria E-mail: irakintoye@yahoo. com Oseni, Jimoh Ezekiel Dept. f Banking and Finance, Faculty of Management Science Olabisi Onabanjo University, Ago Iwoye, Nigeria E-mail: zikoseni@yahoo. com Abstract Brav Heaton (2003) alleges market indeterminacy (a situation where it is impossible to determine whether an asset is efficiently or inefficiently priced) in the stock market. Kang (2008) argue that empirical tests of linear asset pricing models show presence of mispricing in asset pricing. Asset pricing is considered efficient if the asset price reflects all available market i nformation to the extent no informed trader can outperform the market and / or the uninformed trader. This study examined the extent to which some â€Å"information factors† or market indices affect the stock price. A model defined by Al-Tamimi (2007) was used to regress the variables (stock prices, earnings per share, gross domestic product, lending interest rate and foreign exchange rate) after testing for multicollinarity among the independent variables. The multicollinarity test revealed very strong correlation between gross domestic product and crude oil price, gross domestic product and foreign exchange rate, lending interest rate and inflation rate. All the variables have positive correlation to stock prices with the exception of lending interest rate and foreign exchange rate. The outcomes of the study agree with earlier studies by Udegbunam and Eriki (2001); Ibrahim (2003) and Chaudhuri and Smiles (2004). This study has enriched the existing literature while it would help policy makers who are interested in deploying instruments of monetary policy and other economic indices for the growth of the capital market. Keywords: Stock prices, CAPM, models, coefficient, efficient, stock market. International Research Journal of Finance and Economics – Issue 30 (2009) 78 1. You read "Factors Affecting Share Prices" in category "Papers" 0. Introduction The price of a commodity, the economist makes us to believe is determined by the forces of demand and supply in a free economy. Even if we accept the economists’ view, what factors influence demand and supply behavior? Price? Yes, but not all the time, at least there are some other factors. In the securities market, whether the primary or the secondary market, the price of equity is significantly influenced by a number of factors which include book value of the firm, dividend per share, earnings per share, price earning ratio and dividend cover (Gompers, Ishii Metrick, 2003). The most basic factors that influence price of equity share are demand and supply factors. If most people start buying then prices move up and if people start selling prices go down. Government policies, firm’s and industry’s performance and potentials have effects on demand behaviour of investors, both in the primary and secondary markets. The factors affecting the price of an equity share can be viewed from the macro and micro economic perspectives. Macro economic factors include politics, general economic conditions – i. e. how the economy is performing, government regulations, etc. Then there may be other factors like demand and supply conditions which can be influenced by the performance of the company and, of course, the performance of the company vis-a-vis the industry and the other players in the industry. In a study of the impact of dividend and earnings on stock prices, Hartone (2004) argues that a significantly positive impact is made on equity prices if positive earnings information occurs after negative dividend information. Also, a significantly negative impact occurs in equity pricing if positive dividend information is followed by negative earning information. Docking and Koch (2005) discovers that there is a direct relationship between dividend announcement and equity price behavior. Al-Qenae, Li Wearing (2002) in their study of the effects of earning (micro-economic factor), inflation and interest rate (macro-economic factors) on the stock prices on the Kuwait Stock Exchange, discovered that the macro-economic factors significantly impact stock prices negatively. A previous study by Udegbunam and Eriki (2001) of the Nigerian capital market also shows that inflation is inversely correlated to stock market price behaviour. A number of models developed for asset pricing are two variable models. For instance the Capital asset pricing model (CAPM) developed by Sharpe (1964) considers the risk-free return and volatility of the risk-free return to market return as the determinants of asset price. Asset price as described by CAPM is linearly related to the two independent variables. Many studies have concluded that over the years assets were being underpriced (Smith, 1977; Loderer, Sheehan Kadlec, 1991) and this raises the question of the adequacy of the various asset pricing models to ensure efficient asset pricing. Brav Heaton (2003) alleges market indeterminacy, a situation where it is impossible to determine whether an asset is efficiently or inefficiently priced. Kang (2008) found that empirical tests of linear asset pricing models show presence of mispricing in asset pricing. Asset pricing is considered efficient if the asset price reflects all available market information to the extent no informed trader can outperform the market and / or the uninformed trader. This study aims at examining the extent to which some â€Å"information factors† or market indices affect the stock price. The rest of the paper is designed as follows: Section 2 reviews literature on factors influencing asset prices, effects of inefficient asset pricing and some of the existing asset pricing techniques. Section 3 states the data and the sources, the data restructuring and the model used for data analysis while Section 4 discussed and interpret the results of the data analysis. Lastly, section 4 is the conclusion. 2. 0. Conceptual Framework and Literature Review 2. 1. Conceptual Framework Several attempts have been made to identify or study the factors that affect asset prices. Some researchers have also tried to determine the correlation between selected factors (internal and external, 179 International Research Journal of Finance and Economics – Issue 30 (2009) market and non-market factors, economic and non-economic factors) and asset prices. The outcomes of the studies vary depending on the scope of the study, the assets and factors examined. Zhang (2004) designed a multi-index model to determine the effect of industry, country and international factors on asset pricing. Byers and Groth (2000) defined the asset pricing process as a function utility (economic factors) and non-economic (psychic) factors. Clerc and Pfister (2001) posit that monetary policy is capable of influencing asset prices in the long run. Any change in interest rates especially unanticipated change affects growth expectations and the rates for discounting investment future cash flows. Ross’ (1977) APT model which could be taken as a protest of one factor model of CAPM which assumes that asset price depends only on market factor believe that the asset price is influenced by both the market and non-market factors such as foreign exchange, inflation and unemployment rates. One of the defects of APT in spite of its advancement of asset pricing model is that the factors to be included in asset pricing are unspecified. Al – Tamimi (2007) identified company fundamental factors (performance of the company, a change in board of directors, appointment of new management, and the creation of new assets, dividends, earnings), and external factors ( government rules and regulations, inflation, and other economic conditions, investor behavior, market conditions, money supply, competition, uncontrolled natural or environmental circumstances) as influencers of asset prices. He developed a simple regression model to measure the coefficients of correlation between the independent and dependent variables. SP = f (EPS, DPS, OL, GDP, CPI, INT, MS) Where, SP: Stock price; EPS: Earnings per share; DPS: Dividend per share; OL: Oil price; GDP: Gross domestic product; CPI: Consumer price index; INT: Interest rate and MS: Money supply. He discovered that the firm’s fundamental factors exercise the most significant impact on stock prices. The EPS was found to be the most influencing factor over the market. Studying the effects of the Iraq war on US financial markets, Rigobon and Sack (2004) discovered that increases in war risk caused declines in Treasury yields and equity prices, a widening of lower-grade corporate spreads, a fall in the dollar, and a rise in oil prices. A positive correlation exists between the price of oil and war. They argue that war has a significant impact on the oil price. Tymoigne (2002) argue that in the financial market, banking convention and financial convention work together to fix the assets’ market prices. According to him the financial convention creates a speculative sentiment of whether capitalists are more prone to sell, or to buy assets while the banking convention determines the state of credit as evidenced by the confidence of the banking sector and ability of investors accessing credit leverage for asset acquisition purpose. He concluded that â€Å"conventions do not determine asset-price, it is the â€Å"law of supply and demand† that does so, conventionsâ€Å"only† influence the behaviors of financial actors† Inflation as an external factor exerts a very significant negative influence on the stock prices in Nigeria (Zhao,1999 Udegbunam and Eriki, 2001). Factors affecting asset prices are numerous and inexhaustible. The factors can be categorized into firm, industry, country and international or market and non-market factors, and economic and noneconomic factors. All the factors can be summarized into two classes – micro and macro factors. Factors in each class of the classification are inexhaustible. For instance, the firm factors include, ownership structure, management quality, labour force quality, earnings ratios, dividend payments, net book value, etc. have impact on the investor’s pricing decision. Molodovsky (1995) believes that dividends are the hard core of stock value. The value of any asset equals the present value of all cash flows of the asset. 2. 2. Effects Of Inefficient Asset Pricing Inefficient asset pricing could be a catalyst to inefficient resource allocation among competing productive investment opportunities. Underpricing can serve as positive signal to the market (Giammariano Lewis, 1989) to compensate the uninformed and get them to participate in the new International Research Journal of Finance and Economics – Issue 30 (2009) 180 offer (Rock, 1986; Allen Faulhaber, 1989; Grinblatt Hwang, 1989; Welch, 1989). The market is information-sensitive. Prices tend to take a declining trend few days to the release of a firm’s new offer and the price recovery starts few days after the completion of the offer, especially if he offer is fully subscribed (Barclay and Litzenberger, 1988). Easley, Hridkjaer and O’Hara (2001) agree that market is information sensitive at least to the extent that private (insider) information affect asset returns and advised that it should not be ignored for efficient asset pricing. The firm’s beta ratios, its market value to book value, its current price to earnings ratio and the historical growth rate in earning per share are identified by Moore Beltz (2002) as possessing strong influence on the equity price of the firm. They also argue that the identified factors have varying effects on the price and the effects vary from time to time, sector to sector and even from firm to firm within the same industry. For instance, they argue that equity prices of individual firm in heavy industries (chemical, petroleum, metal and manufacturing) are exclusively influenced by the firm’s beta and market to book value while firms in the technology sector are influenced by the historical growth rate in earning per share as well as beta and market to book value ratio. The equity price in transportation industry is affected by beta and price to earning ratio. Though, Moore Beltz (2002) constructed a tree relating the impact of each identified factors in each of the selected model but did not construct a model that could be used in assessing direct impact of the identified factors on the equity price. Asset pricing could be a challenge. Hordahl Packer (2006) argue that a clear understanding of the asset’s stochastic discount factor and future payoffs is necessary to understand the factors that determine the price of an asset. Unfortunately, only Government instruments provide their stochastic discount factor in advance while the future payoffs are not observable directly but could be derived from some other data. Corwin (2003 identifies uncertainty and asymmetric information as a strong influence on the firm’s equity pricing and as a matter of fact lead to underpriced instrument. In the light of the preceding literature review, many factors both micro and macro-economics, have impact on equity pricing in the stock market, the impact differs from firm to firm, industry to industry, economy to economy and from time to time, but one comforting conclusion is that most of the factors appear to have the same behaviour regardless of time, industry or firm constraints. For instance, increased inflation and interest rates, declining dividends, earnings, poor management leave negative impact on equity pricing and vice-versa 2. 3. Asset Pricing Techniques There are several asset pricing models aside from CAPM and APT which are both linear model. A few of the available (non-linear) asset pricing techniques are reviewed in this section. 2. 3. 1. Residual Income Valuation This is one of the oldest valuation model with a trace to the work of Preinreich (1938). The valuation model discounts the future expected dividends and potential value of shareholders’ funds to the present value, giving effect to a proposition that the price of equity can be derived from the present value of all future dividends. Lo and Lys (2000) reviewed the Olhson Model (OM) developed in by Ohlson (1995) and which has been acknowledged with wide acceptance (Joos Zhdanov, 2007; Chen Zhao, 2008). The OM provides a platform for the empirical test of the residual income valuation (RIV). Lo and Lys (2000) defined RIV as: RIV = Pt = ? R-r Et (dt+r) Where Pt is defined as the equity market price at time t, dt represents dividends at the end of time t, R is the unity plus the discount rate (r) and Et is the expectation factor at time t. The RIV from the present value of expected dividend is based on the assumptions that (i) the accounting system meets the â€Å"clean surplus relation† i. e. 181 International Research Journal of Finance and Economics – Issue 30 (2009) To derive RIV from PVED, two additional assumptions are made. First, an â€Å"accounting system† that satisfies a clean surplus relation (CSR) is assumed: bt = bt-1 + xt – dt, bt represents the book value of equity at time t, xt represents the earnings at time t, and (ii) it is assumed that the book value of equity would grow at a rate less than R, that is R-r Et (bt+r) —————) 0 The assumptions form the basis to argue that the present value of expected dividend is a function of both the book value and discounted expected abnormal earnings. In that case RIV signifying the price of the asset can be stated thus: Pt = bt +? t=1 R-r Et (xat+r) Where xat = xt – rbt-1. Testing RIV empirically could be a contention on the premises that it has only one sided hypothesis: asset price is a function present value of future dividends. A rejection of the hypothesis when tested empirically may arouse dissenting voices from researchers who had believed in the efficacy of the model. In fact, Lee (2006) expressed the view that residual income valuation model provides a better valuation than the dividend model. John and Williams (1985), and Miller and Rock (1985), argue that dividend is a communication tool for the firm to pass information to the market in the event of information asymmetry which implies that there is a positive correlation between information asymmetry and a firm’s dividend policy. 2. 3. 2. Economic Valuation Model This model traced to Tully (2000) is developed to recognize economic profits as against the use of book profit in the valuation of asset. The model builds on the premises of profit maximization by owners of the firm and the profit is not to be restricted to book value, rather it covers the opportunity cost of not investing in profitable projects. Economical profit is differentiated from the book profit as the difference from revenues and economical costs (i. e. book costs plus opportunity cost of failure to invest in profitable project. The book profit can be defined as revenue less costs while economic profit is defined as total revenue from investment less cost of capital. Economic profit is higher than normal book profit because of the opportunity cost considered in the former. There are two approaches to the estimation of economic value added (Koller, Goedhart Wessels, 2005; Jennergren, 2008). The first is NOPLAT less capital charge (i. e. WACC multiplied by initial capital outlay). The value of the operating assets is therefore the initial capital outlay plus the present value of cash flows derived from economic value added. To obtain the equity value, the value of debt is deducted from the value of the operating assets. The second approach involves EBIT less taxes (i. e. PAT). PAT less capital charge after recognizing deferred taxes as part of the invested capital. The operating assets remain as the initial capital outlay (having considered the effect of deferred taxes) plus the present value of all income derived from the economic value added. Economic Valuation of Asset (EVA) Model as defined by Kislingerova (2000) is stated as: EVAt = Pt = NOPATt – Ct x WACCt where NOPATt is Net Operating Profit After Tax or the profit after tax (PAT), Ct is long-term capital (Ct is the sum of equity and invested capital or alternatively, it is the total of fixed assets and net working capital), WACC is Weighted Average Cost of Capital. Whenever EVA O, the shareholders’ wealth is maximized, if EVA =0 then there is a break-even point and at EVA 0 the shareholders’ wealth is in decline. EVA model serves as a tool in measuring both the performance of the firms as well its value. WACC serves a dual purpose. It is used in the calculation of EVA and its serves as the rate for discounting the present value of future earnings to the present time t. The value of the firm is therefore the addition of the book value of capital and the present value of future EVA. To derive the value of equity the value of debt would be deducted from the value of the firm. International Research Journal of Finance and Economics – Issue 30 (2009) 182 2. 3. 3. Discounted Cash Flow Model The model uses accounting data as input and the objective of the model is to derive equity value of a going concern. The value of equity is derived by deducting the value of debt (excluding deferred taxes and trade credits) from the total assets. Deferred taxes are regarded as part of equity (Brealey, Myers Allen, 2006). There are several variations to the adoption of the model (Jennergren, 2008). The discounted cash flow (DCF) is more adaptable to the valuation of a firm with high level of assets in place and low level of uncertainty about future cash flows (Joos Zhdanov, 2007). Cash flows available for discounting include dividends, free cash flow to equity and free cash to the firm (debt and equity). A firm can experience three types of growth ranging from stable growth, high growth to stable growth and high growth through transition to a stable growth. The discount rate could be either cost of equity, cost of debt or the weighted cost of capital (WACC). The choice of discount rate should depend on the type of cash flow (equity or firm) to be discounted. At least two models can be derived from the cash flow model. The Dividend Discount (DD) Model is suitable for a firm that pays dividends close to the free cash flow or where it is difficult to estimate the free cash flow to equity. The second model, Free Cash Flow Model is suitable where there is a significant margin between dividends and free cash flow to equity or if dividends are not available. The value of firm witnessing stable growth is given as: C:UsersjoseniD esk top D esk to pDISCOUNTED CA SHFLOW MODELS WHA T THEY A RE A ND HOW TO CHOOSE THE RIGHT ON E__filesImage8. if or a firm that experiences two stages of growth (i. e. high growth to stable growth), the value of the firm is: C:UsersjoseniDesk topDesk topDISCOUNTED CA SHFLOW MODELS WHA T THEY A RE A ND HOW TO CHOOSE THE RIGHT ONE__filesImage9. gif The value of a firm experiencing three levels of growth (i. e. high growth through transition to stable growth) is given as: C:UsersjoseniDesk topDesk topDISCOUNTED CA SHFLOW MODELS WHA T THEY A RE A ND HOW TO CHOOSE THE RIGHT ONE__filesI mage10. gif Where V0 represents equity value or firm value depending on which is discounted, CFt represents cash flow at time t, r represents cost of equity (for dividends or free cash flow to equity) or cost of capital ( for free cash flow to firm), g represents expected growth rate, ga represents initial expected growth (high growth period) and gn represents growth in a stable period; n and n1 are defined as the period in a two stage growth and high growth in a three stage growth models respectively while n2-n1 represents the transition period in the three stage growth model. . 3. 4. Dividend Valuation Model This is one of the commonest and simplest models for valuation of equity in the secondary market. The equity value is taken as the summation of discounted dividends receivable each year till the year of maturity and the price the equity is expected to be sold at maturity. The value of an investment is taken to be the discounted value of the cash flows. There are different variations to the model ranging from: One period valuation one Period to multi-periods Po = D1/(1 + ke) + P1/(1 + ke) Po = D1/(1 + ke)1 + D2/(1+ke)2 +†¦+ Dn/(1+ke)n + Pn/(1+ke)n – multi- period and to indeterminate length of time Infinity and, growth Po = D/(1+ke) (including Gordon growth) variations. D0(1+g)1 + D0(1+g)2 +†¦.. + D0(1+g)? Po = (1+ke)1 (1+ke)2 (1+ke)? or 183 Po = International Research Journal of Finance and Economics – Issue 30 (2009) D0– ke – g) Where: D = dividend paid / expected g = dividend’s growth rate = cost of equity or equity rate of return ke 1 – – n = period variation One of the motives behind the use of this valuation model is to identify over and underpriced shares. Moving away from the simplest form of this model Go and Olhson (1990) introduced a more tasking process for generating dividends and returns on equity investment which they adopted in some more specific valuation mo dels. The process is based on some assumptions such that equity holders would receive net dividends and there exists a linear relationship between variables. John and Williams (1985), and Miller and Rock (1985) argue that dividend is a communication tool for the firm to pass information to the market in the event of information asymmetry which implies that there is a positive correlation between information asymmetry and a firm’s dividend policy. 3. 0. Research Methodology We define the research hypotheses, sampling and data collection techniques as well as the statistical techniques used to test the data. . 1. Research Methodology We test the following hypotheses: Ho1: The earning per share significantly affects the stock price Ho2: The national gross domestic products significantly affect the stock price Ho3: The lending interest rate significantly affect the stock price Ho4: The foreign exchange rate significantly affect the stock price 3. 2. Model From the hypotheses, the stock price is a function of the impact of earning per share, dividend per share, gross domestic, interest rate and oil price. We restricted the influencing factors to five as representatives of the firm’s fundamental factors and external (country) factors. A simple linear regression model derived from Al-Tamimi (2007) is adopted for the study. Unlike Al-Tamimi (2007) who included consumer price index (CPI) and money supply (MS) as independent variables, those variables were replaced with inflation rate (INFL) and foreign exchange rate (FX) in view of the significant impact they have on the economies of developing countries. SP = f (EPS, DPS, GDP, INT, OIL, INFL, FX) Where, SP is the stock price; EPS is the earnings per share; DPS is the dividend per share; GDP is the gross domestic product, INT is the lending interest rate, OIL is the oil price; INFL is inflation and FX is the foreign exchange rate. SP is the dependent variable and it is used to regress the other independent variables (EPS, DPS, GDP, INT, OIL, INFL, FX) in the stock market. The outcome of the regression would be the variance on the dependent variable as resulting from the impact of the independent variables. To explain the effects of multicollinearity normally associated with multi-variables in regression analysis, multicollinearity test is conducted to explain the extent of correlation between the independent variables.. A multiple regression software (WASSA) was used to test the multicollinearity among the independent variables before proceeding to conduct the regression analysis. International Research Journal of Finance and Economics – Issue 30 (2009) 3. 3. Data Sampling 184 There are over 130 companies whose shares are being traded in the Nigerian capital market. The Banking sector in the last five years has dominated the market in terms of trading volumes and market performance. The earning per share (EPS) and dividend per share (DPS) of twelve companies listed on the Nigerian Stock Exchange (NSE) and (average) annual GDP, crude oil price (OIL), lending interest rate (INT), inflation rate (INFL) and foreign exchange rate (FX) are used are analysed for effect on the stock price. The period covered by the data is year 2001 to 2007. The choice of the companies and period used for the data gathering depend on availability of data. . 4. Data Restructuring Weights are attached to EPS and DPS for each of the companies sampled for each of the year. The weight is derived as a ratio of the company’s EPS or DPS to the total EPS or DPS of all the companies for each of the years. The weight is thereafter multiplied with the respective company EPS or DPS to derive â€Å"weighted stock price (SP), EPS or DPS and thereafter all the companies weighte d SP, EPS or DPS are summed together for each of the year (APPENDIX I). 4. 0. Findings and Interpretation In a linear expression where more than two variables are deployed, multicollinearity between variables may not be ruled out. A multicollinearity test is therefore conducted for all the independent variables. Using the Pearson coefficient of correlation, we consider any correlation between two variables + 0. 75 as strong. For instance, from Table 1 below there is no significant correlation between earnings per share and dividend per share. Our explanations for it are into parts. First, all the companies in the sample reported earnings per share for each of the years covered by the study though in some instances the EPS are negative but not all the companies declared and /or paid dividends throughout all the periods. Secondly, EPS movement unlike DPS is largely outside the control of the Management. There is a strong correlation between crude oil price and GDP. The justification for the correlation between crude oil price and GDP can be found in the fact that the Nigerian economy predominantly depends on oil revenue. Table I: DPS EPS GDP OIL INT INF FX Outcomes of the Multicollinarity Test (Pearson Coefficient of Correlation DPS 1 -0. 302 0. 609 -0. 395 -0. 498 -0. 521 0. 724 EPS 1 -0. 523 -0. 596 0. 366 0. 778 -0. 037 GPD 1 0. 959 -0. 702 -0. 492 0. 795 OIL INT INFL FX 1 -0. 706 -0. 434 0. 614 1 0. 988 -0. 424 1 -0. 313 1 A strong correlation also exist between INFL and INT which might be the result of manufacturers and service providers passing increased lending interest rate to consumers. A strong correlation exists between FX and GDP. Unexpectedly, there is a strong correlation between INF and EPS, we do not have any explanation for this relationship. For our regression analysis, OIL and INFL were dropped from the model. Though there is a strong correlation between FX and GDP, both variables are used in the regression. FX and GDP variables are significant to the economy of developing nations like Nigeria, therefore their exclusion from the regression would result in a very high constant (? ). 185 International Research Journal of Finance and Economics – Issue 30 (2009) A regression analysis was run on the independent variables DPS, EPS, GDP and INT after dropping OIL, INFL and FX. Table I shows the result of the regression analysis. Table II: Summary of the Regression Analysis R2 0. 99996 ? – 67. 2385 0. 3835 0. 0869 0. 3805 – 0. 8236 – 1. 9741 Adjusted R2 0. 99978 T – Test – 9. 597 36. 259 33. 369 21. 809 – 7. 375 – 11. 214 Standard Error of Estimates 0. 4752 F – Test 5385. 033 R 0. 99998 Constant DPS EPS GDP INT FX The stock price (P) is highly sensitive to variation as indicated by R2 of 0. 99996. In other words there is 99. 9% and as a matter of fact 100% in stock variation caused by the independent variables. The variability as measured by coefficient of variation (? ) is expectedly positive for DPS, EPS and GDP and expectedly negative for lending interest (INT) though quite significantly. The ? for DPS and EPS though positive were not significant. Many of the companies resorted to bonus issues instead of dividends and the Nigerian investors are more interested in incomes rather than capital appreciation especially where the stock market performance is poor. The failure to declare and pay dividend leaves two negative impacts on stock prices. The existing investors are denied additional funds to invest and the potential investors seeking investment incomes are discouraged. The hypothesis that EPS affect stock price significantly is accepted. The positive GDP’s coefficient in relation to the stock price is in agreement with some other studies (Udegbunam and Eriki,2001; Ibrahim 2003; Mukherjee and Naka 1995; Chaudhuri and Smiles, 2004). The ? is insignificant at 0. 805 and this might not be unconnected with the increasing foreign reserve maintained by CBN from the proceeds of crude oil sales. The proceeds of the crude oil sales are not released to the economy for investment in various productive sectors of the economy but rather held in foreign economies as part of the CBN’s monetary policies. The domestic economy is denied of the investments that would have occurred if the funds in the foreign reserve are released for spendin g in the domestic economy. The hypothesis that the GDP affects stock price significantly is accepted. The coefficient of interest which is negative is expected and found to be significant. The negative coefficient of the lending interest rate is in agreement with the findings of Al-Qenae, Li Wearing (2002), and Mukherjee and Naka (1995). Lending interest rate is a strong tool in the hands of CBN to influence the economy and where the interest is high as it is Nigeria where lending interest rates hovers between 22% and 25%, the accessibility of the investors to access funds is curtailed and the impact on the stock price would be negative as shown. The hypothesis that lending interest rate affects the stock price significantly is accepted The foreign exchange rate’s coefficient is significantly negative at significant level of 10%. This is not unexpected. Local and foreign investors tend to invest in an economy that has a very high currency exchange rate to foreign currencies. The local investors are discouraged from taking their funds out of the economy for fear of reduced purchasing while foreign investors are encouraged otherwise for increased purchasing power. The hypothesis that foreign exchange rate affects the stock price significantly is accepted. Lastly, the constant (? ) is 67. 2385 (negative). This suggests that the minimum stock price in the market is 0. We had initially excluded FX from the regression for the reason of its collinearity with GDP but the constant was negative and excessively high. The inclusion of FX has reduced the negativity which is an indication that there are other important variable(s) that significantly affect the stock prices but not considered in this study. The stock price cannot be 0 except the company is in liquidation. International Research Journal of Finance and Economics – Issue 30 (2009) 186 This raises an important question of what factor(s) could have accounted for the extra ordinary stock market performance in Nigeria between 2005 and 2007 where some stocks return over 1000% per annum. The nation House of Representative’s Committee on Capital Markets expressed disgust at the hike in the stock prices of companies in the banking and oil sectors (Thisday Newspapers, 2008). The â€Å"hike† which may not be a non-economic factor (such as political, unhealthy competition, profiteering by issuers who are at the same time market investors) may be the omitted important variable accounting for the high ?. . 0. Conclusions and Recommendations The forces of demand and supply have direct effect on the stock price while the other indeterminate number of firm, industry and country factors influences the demand and supply factors. The effect, positive or negative the other factors apart from the demand and supply leave on stock price are not static rather changes. For i nstance, lending interest rate effect could be positive or negative depending on the aim of the CBN in deploying it as one of the tools for implementing monetary policy. The study has contributed to existing literatures in confirming or raising new issues with respect to other factors influencing stock prices. Interest researchers may want to identify and examine the non-economic factor that account for the high constant (? ) which may not be unconnected with the current meltdown in the Nigerian stock market. Lastly, policy makers who are concerned about the growth of the capital market are better informed on how to deploy the monetary policies instruments as well other economic indices to achieve the desired market growth. Bibliography [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] Allen, F. nd G. R. Faulhaber, 1989. â€Å"Signaling by Underpricing in The IPO Market†, Journal of Financial Economics, 23 Al – Tamimi, Hussein (2007), â€Å"Factors Affecting Stock Prices in The UAE Financial Markets†, Singapore Economic Review Conference, https://editorialexpress. com/conference/SERC2007 Al-Qenae, Rashid; Li, Carmen Wearing, Bob (2002) â€Å"The Information Content of Earnings on Stock Prices: The Kuwait Stock Exchange,† Multinational Finance Journal, 6 Barclay, M. , and R. Litzenberger. 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Frank (2004) â€Å"Information Uncertainty and Stock Returns† An Article Submitted to The Journal of Finance Manuscript 1149 www. afajof. rg/afa/forthcoming/zhang_information. pdf Zhao, Xing-Qiu (1999), â€Å"Stock prices, inflation and output: evidence from China,† Applied Economics Letters, 6 Appendix Appendix I: Selected Market Indices (2001 – 2007) YEAR PRICE* DPS* EPS* GDP** INT** 42. 53 430. 00 393. 29 431,783. 10 21. 34 2001 43. 70 432. 72 412. 52 451,785. 60 29. 70 2002 109. 21 577. 63 459. 83 495,007. 10 22. 47 2003 116. 76 552. 48 60 0. 59 527,576. 00 20. 62 2004 110. 56 466. 97 708. 90 561,931. 40 19. 47 2005 102. 33 553. 87 1,666. 03 595,821. 61 18. 43 2006 95. 87 549. 93 894. 96 561,776. 34 19. 1 2007 Source: Central Bank of Nigeria Statistical Bulletin** : Cashcraft Asset Management Limited / APT Securities and Fund Limited * OIL** 24. 50 25. 40 29. 10 38. 70 57. 60 66. 50 54. 27 INFLE** 18. 90 12. 90 14. 00 15. 00 17. 90 8. 20 13. 70 FX ** 111. 94 120. 97 129. 36 133. 50 132. 15 128. 65 131. 43 189 International Research Journal of Finance and Economics – Issue 30 (2009) Appendix II: Regression Analysis Of Selected Market Indices (2001 – 2007) Multiple Linear Regression – Estimated Regression Equation SP[t] = +0. 38353330161483 DPS[t] +0. 086971432931437 EPS[t] +0. 38049146437789 GDP[t] -0. 82357353121514 INT[t] -1. 740597666311 FX[t] -67. 238476376193 + e[t] Multiple Linear Regression – Ordinary Least Squares Variable DPS[t] EPS[t] GDP[t] INT[t] FX[t] Constant Variable %DPS[t] % EPS[t] %GDP[t] %INT[t] %FX[t] %Constant Variable Parameter 0. 383533 0. 086971 0. 380491 -0. 823574 -1. 97406 -67. 238476 Elasticity 2. 201042 0. 359282 2. 221624 -0. 200986 -2. 822992 -0. 75797 Stand. Coeff. S. E. 0. 010577 0. 002606 0. 017447 0. 111666 0. 17603 7. 006084 S. E. * 0. 060703 0. 010767 0. 101869 0. 027251 0. 25173 0. 078979 S. E. * T-STAT H0: parameter = 0 36. 259468 33. 368601 21. 808584 -7. 375331 -11. 214366 -9. 597156 T-STAT H0: |elast| = 1 19. 785697 -59. 07274 11. 992081 -29. 320395 7. 241855 -3. 064493 T-STAT H0: coeff = 0 2-tail p-value 0. 017553 0. 019073 0. 029171 0. 085794 0. 056618 0. 066096 2-tail p-value 0. 032148 0. 010697 0. 052964 0. 021704 0. 087356 0. 200805 2-tail p-value 1-tail p-value 0. 008776 0. 009536 0. 014585 0. 042897 0. 028309 0. 033048 1-tail p-value 0. 016074 0. 005349 0. 026482 0. 010852 0. 043678 0. 100402 1-tail p-value 0. 008776 0. 009536 0. 014585 0. 042897 0. 028309 0. 5 S-DPS[t] 0. 763848 0. 021066 36. 259468 0. 017553 S-EPS[t] 0. 69251 0. 020753 33. 368601 0. 019073 S-GDP[t] 0. 729372 0. 033444 21. 808584 0. 029171 S-INT[t] -0. 09814 0. 013307 -7. 75331 0. 085794 S-FX[t] -0. 48017 0. 042817 -11. 214366 0. 056618 S-Constant 0 0 0 1 Computed against deterministic endogenous series *Note Multiple Linear Regression – Regression Statistics Multiple R 0. 999981 R-squared 0. 999963 Adjusted R-squared 0. 999777 F-TEST 5385. 033289 Observations 7 Degrees of Freedom 1 Multiple Linear Regression – Residual Statistics Standard Error 0. 475177 Sum Squared Errors 0. 225793 Log Likelihood 2. 086595 Durbin-Watson 3. 380955 Von Neumann Ratio 3. 944448 # e[t] 0 3 # e[t] 0 4 # Runs 6 Runs Statistic 1. 333946 NB: Regression analysis was done using a software developed by Wessa (2008) How to cite Factors Affecting Share Prices, Papers

Louis XIV Was Only Four Years Old When He Succeeded His Father To The

Louis XIV was only four years old when he succeeded his father to the French throne. Often uncared for, he nearly drowned because no one was watching him as he played near a pond. This began to shape in his young mind an early fear of God. Louis' character was also shaped by the French Civil War. In this, the Paris Parlement rose against the crown. For five years, Louis would suffer fear, cold, hunger and other spirit-breaking events. He would never forgive Paris, the nobles, or the common people. Finally, in 1653, Cardinal Jules Mazarin was able to end the rebellion. He began to instruct Louis on his position as king. Even though Louis XIV was now of age, the Cardinal remained the dominant authority in French politics. French kings gained respect as a soldier; Louis served with the French army during France's war with Spain. His biggest battle, however, was sacrificing his love for Mazarin's niece for politics. In 1660 he married the daughter of the king of Spain to bring peace between the two countries. Mazarin died March 9, 1661. On March 10, Louis claimed supreme authority in France. Not since Henry IV had such a claim been made. Louis saw himself as God's representative on earth, therefore, infallible. He oversaw roadbuilding, court decorum, defense, and disputes within the church. He had the support initially of his ministers, then that of the French people. He had given France the image it desired-youth and vitality surrounded by magnificence. Louis won the favor of the nobles by making it evident that their future depended on their ability stay on his good side. This weakened the nobility, and would eventually weaken France. Louis had among his supportors a wide spectrum of individuals. Writers such as Moliere were ordered to glorify him. Monuments rose throughout the country and Louis had palaces built in his honor. The most elaborate was Versailles, located outside Paris. Away from disease, Versailles also isolated the king from his people. The aristocracy became mysterious. France was also undergoing an economic revolution. Exports were increased, and a navy, merchant marine, and police association emerged. Roads, ports and canals were being built. He invaded the Spanish Nederlands in 1667. The restarted war between France and Spain would be on again, off again for the remainder of Louis' reign. In 1668, the French army retreated under pressure from Dutch and English forces. Louis swore to defeat the Dutch and ruin their Protestant mercantile republic. He allied himself with his cousin, Charles II of England, and invaded the Netherlands in 1672. Louis was victorious when the Treaty of Mijmegen was signed in 1678. When the Dutch were defeated, he had also defeated its allies, Spain and the Holy Roman Empire. France's borders had expanded to the north and the east. His navy had become as as large as that of England and Holland. His private life was not as fortunate. Friends had been implicated in the Affair of the Poisons, where eminent people had been accused of sorcery and murder. Louis ordered his court to become discrete. The seat of Government was transferred to Versailles in 1682. When the Queen died, he married her Mme de Maintenon, who had been governess to the King's children. Louis did not understand the reformation, and he viewed French Protestants as threats to the throne. He revoked the Edict of Nantes, which had granted them freedom of worship. Many left France, those that remained were persecuted. England, the Dutch, and the Holy Roman Empire united in 1688 in the Grand Alliance to stop French expansion. This war ended in 1697 with the signing of the Treaty of Rijswijk. France lost part of its territory, and Louis lost public support. He was forced to recognize William of Orange as king of England. This went against his belief that the Stuarts had divine right to the throne. Charles II, the last Habsburg king of Spain died in 1700, and bequeathed his kingdoms to Louis' grandson, Philip of Anjou (Philip V). Although initially opposed to the inheritance, Louis finally went along with it in order to prevent Spain from falling into the hands of the Holy Roman emperor, Leopold I, who disputed Philip's claim. In the War of the Spanish Succession the

J.B.

J.B. Jeremy Wayne Brown 705 Hacker Dr.London, KY 40741 Home Phone (606) 864-3586 EDUCATION 1997-2000 University of Tennessee Sociology/Criminology Concentration 3.0 GPA 2000-2001 University of Georgia Sociology/Criminal Justice Concentration 2.9 GPA 2001-2002 Eastern Kentucky University Working for Bachelor of Arts in Sociology Financed 85% of education through baseball scholarship and part-time work Spent 40 or more hours a week with baseball related activities (practice, workouts, meetings, etc..) EMPLOYMENT 1996-1997 The Video Link, Sales Clerk London, KY Utilized my personal skills in the selling of Video's, VCR's, games and inventory.1997-1998 Regency Cinema 7 London, KY Ticket Salesman, Usher, Concessions. As one of the most trusted employees, I was in charge of ticket sales, concessions, inventory and ushering.1999-2000 Allied Van Lines Cleveland, Ohio Responsible for inventory, loading trucks and website layout for the company 2001-2002 Professional Baseball Pitcher, Minnesota Twi ns I am responsible for keeping the opposing team at bay when on the pitchers mound while at the same time keeping my composure and representing the Minnesota Twins.Bert Blyleven in 2008

Margaret Jones - Executed for Witchcraft, 1648

Margaret Jones - Executed for Witchcraft, 1648 Known for: first person executed for witchcraft in Massachusetts Bay ColonyOccupation: midwife, herbalist, physicianDates: died June 15, 1648, executed as a witch in Charlestown (now part of Boston) Margaret Jones was hanged on an elm tree on June 15, 1648, after being convicted of witchcraft. The first known execution for witchcraft in New England was the year before: Alse (or Alice) Young in Connecticut. Her execution was reported in an Almanac published by Samuel Danforth, a Harvard College graduate who was then working as a tutor at Harvard. Samuels brother Thomas was a judge at the Salem witch trials in 1692. John Hale, who was later involved in the Salem witch trials as the minister in Beverley, Massachusetts, witnessed the execution of Margaret Jones when he was twelve years old. Rev. Hale was called to help Rev. Parris determine the cause of the strange happenings in his home in early 1692; he was later present at court hearings and executions, supportive of the courts actions. Later, he questioned the legality of the proceedings, and his postumously published book, A Modest Inquiry Into the Nature of Witchcraft, is one of the few sources for information about Margaret Jones. Source: Court Records We know about Margaret Jones from several sources. A court record notes that in April, 1648, a woman and her husband were confined and watched for signs of witchcraft, according to a course which hath ben taken in England for the discovery of witches. The officer was appointed to this task on April 18. Although the names of those watched were not mentioned, the subsequent events involving Margaret Jones and her husband Thomas lend credence to the conclusion that the husband and wife named were the Joneses. The court record shows: This court beinge desireows that the same course which hath ben taken in England for the discovery of witches, by watchinge, may also be taken here with the witch now in question, therefore doe order that a strict watch be set about her every night, that her husband be confined in a private roome, watched also. Winthrops Journal According to the journals of Governor Winthrop, who was a judge at the trial that convicted Margaret Jones, she was found to have caused pain and sickness and even deafness by her touch; she prescribed medicines (aniseed and liquors are mentioned) that had extraordinary violent effects; she warned that those who would not use her medicines would not heal, and that some so warned had had relapses that could not be treated; and she had foretold things that she had no way to know about. Further, two signs usually ascribed to witches were found: the witchs mark or witchs teat, and being seen with a child who, on further investigation, vanished the assumption was that such an apparition was a spirit. Winthrop also reported a very great tempest at Connecticut at the very time of her execution, which people interpreted as confirming that she was truly a witch. Winthrops journal entry is reproduced below. At this court one Margaret Jones of Charlestown was indict- ed and found guilty of witchcraft, and hanged for it. The evidence against her was,1. that she was found to have such a malignant touch, as many persons, (men, women, and children,) whom she stroked or touched with any affection or displeasure, or, etc., were taken with deafness, or vomiting, or other violent pains or sickness,2. she practising physic, and her medicines being such things as (by her own confession) were harmless, as aniseed, liquors, etc., yet had extraordinary violent effects,3. she would use to tell such as would not make use of her physic, that they would never be healed, and accordingly their diseases and hurts continued, with relapse against the ordinary course, and beyond the apprehension of all physicians and surgeons,4. some things which she foretold came to pass accordingly; other things she could tell of (as secret speeches, etc.) which she had no ordinary means to come to the knowledge of,5. she ha d (upon search) an apparent teat in her secret parts as fresh as if it had been newly sucked, and after it had been scanned, upon a forced search, that was withered, and another began on the opposite side,6. in the prison, in the clear day-light, there was seen in her arms, she sitting on the floor, and her clothes up, etc., a little child, which ran from her into another room, and the officer following it, it was vanished. The like child was seen in two other places, to which she had relation; and one maid that saw it, fell sick upon it, and was cured by the said Margaret, who used means to be employed to that end.Her behavior at her trial was very intemperate, lying notoriously, and railing upon the jury and witnesses, etc., and in the like distemper she died. The same day and hour she was executed, there was a very great tempest at Connecticut, which blew down many trees, etc.Source: Winthrops Journal, History of New England 1630-1649. Volume 2. John Winthrop. Edited by James Ken dall Hosmer. New York, 1908. A Nineteenth Century History In the mid-19th century, Samuel Gardner Drake wrote about the case of Margaret Jones, including more information about what may have happened to her husband: The first Execution for Witchcraft in the Colony of Massachusetts Bay, was at Boston on the 15th of June, 1648. Accusations were probably common long before this, but now came a tangible Case, and it was carried through with as much Satisfaction to the Authorities, apparently, as ever the Indians burnt a Prisoner at the Stake.The Victim was a Female named Margaret Jones, the Wife of Thomas Jones of Charlestown, who perished on the Gallows, as much for her good Offices, as for the evil Influences imputed to her. She had been, like many other Mothers among the early Settlers, a Physician; but being once suspected of Witchcraft, was found to have such a malignant Touch, as many Persons were taken with Deafness, or Vomiting, or other violent Pains or Sickness. Her Medicines, though harmless in themselves, yet had extraordinary violent Effects; that such as refused her Medicines, she would tell that they would never be healed, and accordingly their Diseases and Hurts continued, with Relap se against the ordinary Course, and beyond the Apprehension of all Physicians and Surgeons. And as she lay in Prison, a little Child was seen to run from her into another Room, and being followed by an Officer, it was vanished. There was other Testimony against her more ridiculous than this, but not necessary to be recited. To make her Case as bad as possible, the Record or it says her Behaviour at her Trials was intemperate, lying notoriously, and railing upon the Jury and Witnesses, and that in like Distemper she died. It is not unlikely that this poor forsake Woman was distracted with Indignation at the Utterances of the false Witnesses, when she saw her Life was sworn away by them. The deluded Court denounced her frantick Denial of the Charges as lying notoriously. And in the probably honest Belief in Witchcraft, the same Recorder says, in the most complacent Credulity, that the same Day and Hour she was executed, there was a very great Tempest at Connecticut, which blew down ma ny Trees, c. Another equally credulous Gentleman, writing a Letter to a Friend, dated at Boston on the 13th of the same Month, says: The Witche is condemned, and to be hanged Tomorrow, being Lecture Day.Whether there were any other suspected Persons at the time Margaret Jones was prosecuted, we have no Means of ascertaining, yet it is more than propable that a supposed Spirit of Darkness had been whispering in the Ears of the Men in Authority in Boston; for about a Month before the Execution of Margaret, they had passed this Order: The Courte desire the Course which hath been takin in England for Discovery of Witches, by watching them a certina Time. It is ordered, that the best and surest Way may forthwith be put in Practice; to being this Night, if it may be, being the 18th of the third Month, and that the Husband may be confined to a private Roome, and be also then watched.That the Court was stirred up to ferret out Witches, by the late Successes in that Business in England, sev eral Persons having been tried, condemned and executed in Feversham about two Years before is not improbable. By the Course which hath been taken in England for the Discovery of Witches, the Court had References to the Employment of Witch-Finders, one Matthew Hopkins having had great Success. By his infernal Pretensions some scores of innocent bewildered People met violent Deaths at the Hands of the Executioner, all along from 1634 to 1646. But to return to the Case of Margaret Jones. She having gone down to an ignominious Grave, leaving her Husband to suffer the Taunts and Jeers of the ignorant Multitude, escaped further Prosecution. These were so insufferable that his Means of Living were cut off, and he was compelled to try to seek another Asylum. A ship was lying in the Harbor bound for Barbadoes. In this he took Passage. But he was not thus to escape Persecution. On this Ship of 300 Tons were eighty Horses. These caused the Vessel to roll considerably perhaps heavily, wich to Persons of any Sea Experience would have been no Miracle. But Mr. Jones was a Witch, a Warrant was sued out for his Apprehension, and he was hurried thence to Prison, and there left by the Recorder of the Account, who has left his Readers in Ignorance of what became of him. Whether he were the Thomas Joanes of Elzing, who in 1637 took Passage at Yarmouth for New England, cannot be positively stated, although he is probably the same Person. If so, his Age at that Time was 25 Years, and he married subsequently.Samuel Gardner Drake. Annals of Witchcraft in New England, and Elsewhere in the United States, From Their First Settlement. 1869. Capitalization as in the original. Another Nineteenth Century Analysis Also in 1869, William Frederick Poole reacted to the account of the Salem witch trials by Charles Upham. Poole noted that Uphams thesis was largely that Cotton Mather was at fault for the Salem witch trials, to gain glory and out of gullibility, and used the case of Margaret Jones (among other cases) to show that witch executions did not begin with Cotton Mather. Here are excerpts from the section of that article addressing Margaret Jones: In New England, the earliest witch execution of which any details have been preserved was that of Margaret Jones, of Charlestown, in June, 1648. Governor Winthrop presided at the trial, signed the death-warrant, and wrote the report of the case in his journal. No indictment, process, or other evidence in the case can be found, unless it be an order of the General Court of May 10, 1648, a certain woman, not named, and her husband, be confined and watched.... [Poole inserts the transcript, shown above, of Winthrops journal] ...The facts in relation to Margaret Jones seem to be, that she was a strong-minded woman, with a will of her own, and undertook, with simple remedies, to practise as a female physician. Were she living in our day, she would brandish a diploma of M. D. from the New England Female Medical College, would annually refuse to pay her city taxes unless she had the right to vote, and would make speeches at the meetings of the Universal Suffrage Association. Her touch seeme d to be attended with mesmeric powers. Her character and abilities rather commend themselves to our respect. She made anise-seed and good liquors do the good work of huge doses of calomel and Epsom salts, or their equivalents. Her predictions as to the termination of cases treated in the heroic method proved to be true. Who knows but that she practiced homoeopathy? The regulars pounced upon her as a witch, as the monks did upon Faustus for printing the first edition of the Bible, put her and her husband into jail, set rude men to watch her day and night, subjected her person to indignities unmentionable, and, with the assistance of Winthrop and the magistrates, hanged her, and all this only fifteen years before Cotton Mather, the credulous, was born!William Frederick Poole. Cotton Mather and Salem Witchcraft North American Review, April, 1869. Complete article is on pages 337-397.

Coca-Cola in India Case Study Example | Topics and Well Written Essays - 500 words

Coca-Cola in India - Case Study Example Coke’s initial response to the allegations that were brought against it by the Indian state could easily be defined as combative. As such, a combative response to such allegations hardly ever proves to be effective as it oftentimes appears that the firm is attempting to hide something rather than engaging actively to ameliorate the problem. Some of these dismissive/combative responses from Coca Cola I have included below: This is perhaps the most salient of the questions due to the fact that Coca Cola has an uphill battle on its hands with relations to public relations in India. Firstly, the company should continue to invest in the environmental infrastructure that shows the company has made a firm and continuing commitment to utilizing the resources of the host country in a responsible manner. Respecting India by being a good and fair steward of the resources exhibited therein would necessarily be a primary item that Coke must change in order to have an opportunity to regain lost market share. Similarly, refraining from participating in culturally insensitive displays such as the one that Coke engaged upon by sending the Coca Cola samples off to laboratories in England to be tested rather than in India is another important step. Similarly, Coca Cola will need to be mindful of the actions of its supply chain members as any one of these can negatively tarnish the image of the company. Furthermore, Coca Cola must cease and desist building bottling operations in areas that are prone to any level of desertification. Additionally, Coca Cola must be much faster in response to such a type of criticism in the future. By actively confronting an issue and working to fix whatever failings the firm might have, the level of customer trust is more or less retained. Similarly, focusing too heavily on the changes rather than actively pursuing to win back consumer

Report Coursework Example | Topics and Well Written Essays - 750 words - 3

Report - Coursework Example The methods are used in economics, physics, and chemistry, geology, in statistics, in operational research and in other disciplines. The ride has 100 metres of fencing to make a rectangular enclosure as shown. It will use existing walls for two sides of the enclosure, and leave an opening of 2 metres for a gate as shown below we are to show that the area of the enclosure is given by: A = 102x – x2 further we are to calculate the maximum possible area. The snacks will be provided in a box with a lid made by removing squares from each corner of a rectangular piece of card and then folding up the sides as shown in below figure. The box is made with a piece of cardboard that is 40 cm by 40 cm. To arrive at the many conclusions, the particular mathematical modeling techniques used was differentiation. It mostly involved finding the maxima and minima of the various mathematical expressions that were already given or else arrived at. The results show that the maximum and minimum heights for feel the fear roller coaster are 36 meters and -14. 1815 meters respectively. The difference between the two was found to amount to 50.815 meters. On the other hand, The Giant roller coaster is 36. 434 at its maximum and -96.434 at its minimum this roller coaster starts at the ground level. For the case of the enclosure the maximum possible area was found to be the2601 square meters where the width is 51. Finally the dimensions of the snack box that yield maximum volume are as follows 6.67 cm x 13.33 cm x 26.67 cm. in this case the maximum volume is 2370.37 cubic

Rates of reaction:- sodium thiosulphate + hydrochloric acid :: GCSE Chemistry Coursework Investigation

Rates of reaction:- sodium thiosulphate + hydrochloric acid Plan:- We must produce a piece of coursework investigating the rates of reaction, and the effect that changing one particular variable has on the reaction time. The rate of reaction is the time it takes one or more of the reactants to react or the time it takes to produce a new product from a chemical reaction. To work out the reaction time we use the formula. 1 divided by time taken for reaction There are five factors which affect the rate of a reaction, according to the collision theory of reacting particles: 1. temperature of solution, 2. concentration of solution, 3. pressure of gases in reaction, 4. surface area of reactants, 5. Catalysts. For my preliminary experiments I have chosen to investigate the effect temperature and concentration have on a reaction. I have chosen to investigate these reactants because the are the most practical for the lab and equipment that I have available to use also it would take to much time to prepare a solid in powdered and unpowdered form, and it is difficult to get accurate readings due to the inevitabilities of human errors, and as gas is mostly colourless it is difficult to gauge a reaction changing the pressure, and if a substance is added to give the gas colour, it may influence the outcome of the experiment. Similarly the use of a catalyst complicates things, and if used incorrectly could alter the outcome of the experiment. My preliminary experiments showed me that it would me more practical and time saving if I just altered the temperature of the solution as changing the concentration of the solution was very time consuming. However the preliminary experiments also helped me to choose a suitable strength of solution. Aim:- To see the effects of a change in temperature on the rate of a reaction. The reaction that will be used is: Sodium Thiosulphate + Hydrochloric Acid. Na2S2O3 (aq) + 2HCl (aq) . As I decided after my preliminary experiments I will only carry out one experiment, temperature change whilst all other variables stay constant. As both, sodium thiosulphate and hydrochloric acid are soluble in water it means that I would be able to alter the concentration of either of them. However I have chosen to vary the sodium thiosulphate as it is available in larger amounts. To alter the temperature of the solution a water bath will be used to heat up the acid, thiosulphate and water to the necessary temperature. I decided on my range temperatures and the concentration that I would use during my preliminary series of experiments - I would be using a concentration of 0.

Racial Politics

The push for racial equality in the United States got a boast from the demands placed on all facets of society during the Second World War. The mobilization effort relied on the black race to win the war and once it was over, there was no turning back. Furthermore, the ideals of freedom and equality, which were the backbone of the Allied war cry and the foundation for the anti-communist Western movement, did not sit well alongside Jim Crow laws and public acts of racial discrimination.The Jim Crow System of segregation was a process in which white Southerners legitimized their racial supremacy over their black counterparts. It was a system based on ethnic and racial differentiation. It is important to note that such a system enabled the â€Å"definition of racism as an institutional fact† (Singh, 2004, p. 22). This is evident if one considers that such a system enabled â€Å"the construction of black people as subjects proscribed from participating in the social state in whic h they live† thereby positing them as entities â€Å"whose relation to the public is always in racial doubt† (Singh, 2004, p.22). The possibility of such is better understood if one considers that differentiation entails the recognition that races are different and as such, it creates a political setting that separates races [e. g. distinction and hence separation of the whites from the blacks]. In addition to this, it also separates and ultimately, limits or confines races to a social sphere with corresponding social functions that are imposed on them. In lieu of this, the importance of the Civil Rights movement lies in its attempt to breakdown and free society of this idea of racial differentiation.Contrary to popular belief, the Civil Rights movement did not begin in the 1950’s and end in the 1960’s; instead, it has been an ongoing process since the Compromise of 1877, through to the present day. The movement has encompassed not only political equality but also housing, education, and economics, to name a few. Moreover, Jeanne Theoharis (2003) argues against the dominant notion that the civil rights movement was a nonviolent movement born in the South during the 1950’s that emerged triumphant in the early 1960’s only to be derailed by Black Power and the white backlash when it moved North after 1965.Theoharis (2003) argues that an understanding of the movement necessitates â€Å"a fuller inclusion of Northern activism within the postwar freedom narrative challenges the notion that the movement went from civil rights to Black Power (p. 12). She notes, â€Å"that Black Power caused the decline of the movement, that self-defense was new to the movement in the 1960s, and that well-organized nonviolent movements were not as prevalent or successful across the North as they were in the South from 1940 to 1980† (p. 12).The Northern movement successfully used similar tactics as compared to the Southern movement such a s boycotts, sit-ins, rallies and grassroots. The difference however, was the internal concepts of race in the North. An example of the historical and political tensions that existed in the North can be seen in Alexis de Tocqueville commentary in 1831 when he stated, â€Å"the prejudice of race appears to be stronger in the states that have abolished slavery than in those where it still exists; and nowhere is it so intolerant as in those states where servitude has never been known† (Jacobson, 1998, p.22). On the surface, it seemed as if the North was anything but racist since the North had fought against slavery and never implemented Jim Crow Laws. Underneath this however, racism and discrimination were institutionalized within the economic and political system; and in both instances, the system was controlled by whites. This was noted by Sugrue (1996) in The Origins of the Urban Crisis: Race and Inequality in Postwar Detroit. Within the aforementioned work, Sugrue outlined th e pre-existing presence of economic discrimination in postwar Detroit, which led to the 1967 riots.At the end of World War II, blacks were leaving for the North, just as northern cities began to lose money and jobs. The â€Å"Second Great Migration† led to an influx of unemployed blacks into northern cites with limited resources and jobs. Deindustrialization, combined with the Great Migration, exacerbated the persistent racial discrimination in labor markets and intensified the racial division within the metropolitan area. Though Sugrue focuses on the economic aspect of the issue, he does note that the origins of the urban crisis are much earlier than social scientists have recognized.In lieu of this, he stated, â€Å"there is no simple explanation for the inequality and marginality that beset the urban poor† (Sugrue, 1996, p. 5). In lieu of this, this paper opts to present an evaluation of the effect of the Civil Rights Movement in the United States. Such an analysis will consider the historical, philosophical and ideological underpinnings of the Civil Rights Movement. I will argue that American society was unprepared for such huge and radical changes [brought by Civil Rights Movement] because the issues involved were too complex.In relation to this, I will also argue that it is not only the case that society was not ready to handle such changes but also the legislated and enacted laws were directly attempting to change a social conception of race that had dominated United States [political, social, economic, and religious] culture since its inception. In proving my argument, I will focus on the aspect of â€Å"educational equality† as implemented in the process of Mississippi’s initial experiences in its implementation of school desegregation programs.In 1954, the United States of America’s Supreme Court decided a landmark case concerning educational and racial equality. In Brown v. Board of Education of Topeka, 347 U. S. 4 83 (1954), the Court’s ruling is grounded on the principle that the doctrine of â€Å"separate but equal† [this doctrine is referring to the segregation policy, more specifically, the segregation policy in the schools in the United States] will not and cannot provide Black Americans with the same standards and quality of education available for White Americans.The court thus, outlawed the â€Å"racial segregation of public education facilities† for the aforementioned reason. In relation to this, on May 17, 1954, the Warren Court handed down a 9-0 decision, which stated, in clear and certain terms that â€Å"separate educational facilities are inherently unequal†. Chief Justice Warren writes: â€Å"Today, education is perhaps the most important function of state and local governments. Compulsory school attendance laws and the great expenditures for education both demonstrate our recognition of the importance of education to our democratic society.It is re quired in the performance of our most basic public responsibilities, even service in the armed forces. It is the very foundation of good citizenship. Today it is a principal instrument in awakening the child to cultural values, in preparing him for later professional training, and in helping him to adjust normally to his environment. In these days, it is doubtful that any child may reasonably be expected to succeed in life if he is denied the opportunity of an education. Such an opportunity, where the state has undertaken to provide it, is a right which must be made available to all on equal terms† (Imber & Geel, 2004, p.212). The aforementioned decisions may be best understood if one considers that racial segregation [as the court sees it] is against the pronouncements of the Constitution. The segregation of students on the basis of race or ethnicity and the legalization of a segregated public school education through the enactment of certain statutes serving to legitimize th e creation and operation of schools that are exclusively for Whites or for Blacks, is clearly, not justified. The Supreme Court’s ruling in Brown v.Board of Education of Topeka remains and is still considered as a turning point in the Civil Rights Movement in the United States. Within Mississippi, the attempt to account for the implementation of the aforementioned decisions occurred during the later part of the 20th century [1970’s]. The reason for such lies in the high amount of white resistance to school desegregation. In lieu of this, the result of the elimination of the desegregation system was set on white terms. This is evident if one considers that during the process, race was considered as a high factor in the consideration of a school’s teachers and administrators.Black teachers and administrators thereby lost their jobs and the black community saw an erosion of the control they had exercised over their children's education (Bolton, 2000, p. 782). In th e years that followed, as federal support waned, efforts in Mississippi and across the nation to create unitary school systems usually floundered, in many cases leading to a resegregation of schools (Burger, 1982). In the decade before the Brown decision, upgrading black schools within segregation was considered a viable alternative to school integration by both blacks and whites.This strategy of educational equalization sought to ensure a balanced distribution of resources between separate black and white schools. From 1925 until 1950, black southerners, focused their efforts on trying to equalize educational spending rather than directly assaulting the doctrine of separate but equal. In addition to this, after the organizations shifted its tactics to challenge the Jim Crow system, many black southerners continued to embrace the equalization policy as the best method for improving black education.The necessity of such was posited by Burger (1982) during his oral account of history during the 1930’s to the 1960’s. Burger (1982) noted that the importance of the aforementioned segregation system lies in its ability to provide good education for the black people. He noted, â€Å"There was interest to help the black high school to be established and survive [however] it didn't get much support locally†. According to Burger, the difficulty of the situations within the black schools is evident if one considered that â€Å"there was no money there [black schools]†.In addition to this, he noted that during the 1930’s to the 1960’s, the black schools got â€Å"little aid†¦ from the county†¦ [It] was just a little bit of sixteenth section money and maybe one or two other funds†. Southern state governments in the decade after World War, faced with both a federal government increasingly sympathetic to the cause of black civil rights and changes in the region's demographics and economy that threatened to undermine the racial status quo, also recognized that a little more emphasis on the â€Å"equal† part of the separate but equal equation might be prudent if segregation were to be preserved.After the war, these states all began or enhanced programs to improve black education. As opposed to this some southern states, such as Mississippi, continued to advocate educational equalization even after the Brown decision had declared segregated schools inherently unequal, in the vain hope that the federal government might somehow still accept an improved version of separate but equal over desegregation.During the aforementioned period, within the Mississippi area although implementing the Brown mandate ultimately proved difficult, educational equalization was never a viable alternative. Such is evident not merely in the efforts to enable student desegregation but also in providing education for the black professionals within the field of education. An example of such was evident in Dr. Burgerâ €™s situation during the period.As a black principal in Hattiesburg during the period that he sought to obtain a master's degree in the early 1950s, he had to take a leave of absence without pay. In order to fully understand such a situation, one must thus be careful of the nuances involved in his or her understanding and analysis of the Civil Rights Movement, what the movement sought to achieve and the means in and through which its prominent leaders and advocates believe to be both proper and effective.As may be noted in the development of the civil rights movement, from the historical, philosophical and ideological perspectives, the proper and effective means in which the recognition of civil rights be regarded as fundamental rights that ought to be granted to every citizen of the state and not only to a selected few, is through the tedious process of â€Å"legislation† and â€Å"affirmative action†.By these two concepts we mean a legal mechanism (1) â€Å"for the institutionalization of certain laws and statutes† and (2) â€Å"for the correction of certain laws and statutes to address and correct the mistakes committed in the past† so that the law may be said to fulfill its function, that is, to administer social justice. The above discussion gives us an idea of the complexity of the problem that needs to be resolved.At this point, it is not difficult to see that all of these things involve the very notion of â€Å"power relation† at the very core and as such, it may be said that the whole historical, philosophical and ideological developments of the push for racial equality in the United States was held fast by this very notion. Power relation then, both as a notion and a political phenomenon, is constitutive of the problem that was explored by the paper.As I see it, the problem with the civil rights movement was that it was not universal; instead, there were those who defended and supported the movement and there we re those who opposed. It was not able to gain an inter-subjective consensus, so to speak. In the face of such a complex problem, legislators in the past should not have merely taken into consideration that the problem would appropriately and effectively be addressed by mere acts of rapid legislation. Rapid legislation, as what the legislators in the past did, and as will be argued in this thesis is not the solution to the problem.In fact, it made the problem worse by failing to consider the interweaving and interconnected issues that were involved. In the case of Mississippi, the formulation of legislations that opted to eradicate the aforementioned cases of segregation merely led to the further specification of the events that enable segregation. It is important to note that the downside of such lies in the fact that such cases of segregation or racism were enabled by the existing laws of Mississippi during the period in discussion.The oral history narrated by Dr. Burger serves as an example of such. True, the expedited implementation of civil rights on all facets and areas of society created considerable â€Å"changes† on the realms of the social, political and economic but the question whether such huge and radical changes were appropriate and effective remained without a satisfactory answer since the phenomenon is in itself deeply embedded in the culture of the American society. References Bolton, C.â€Å"Mississippi’s School Equalization Program, 1945-1954: ‘A Last Gasp to Try to Maintain a Segregated Educational System’†. The Journal of Southern History 66. 4: 781-814. Burger, N. (1982). â€Å"Oral History with Professor N. R. Burger. † Interview by W. Pyle. University of Southern Mississippi. Retrieved February 27, 2008 from http://anna. lib. usm. edu/~spcol/crda/oh/ohburgernp. html Imber, M. & T. Van Geel (2004). Education Law. London: Routledge. Jacobson, M. (1998).Whiteness of a Different Color: European Immig rants and the Alchemy of Race. Cambridge, Massachusetts: Harvard University Press. Singh, N. (2004). Black is A Country, Race and the Unfinished Struggle for Democracy. Massachusetts: Harvard University Press. Sugrue, T. (1996). The Origins of the Urban Crisis: Race and Inequality in Postwar Detroit. New Jersey: Princeton University Press. Theoharis, J. & Woodard K. (2003). Freedom North: Black Freedom Struggles outside the South, 1940–1980. New York: Pal-grave.