Can Selling Arrangements Be Harmonised Essay Example | Topics and Well Written Essays - 1500 words

Can Selling Arrangements Be Harmonised - Essay Example First off, the author claims to rediscover the issue of the internal market from the rational point of view in the scope of other relationships and vital constituents the nation gets in the economical and social sense. In this respect Davis admits that positive harmonization has a broader remit, because the Treaty makes clear that the internal market is to be a market which respects non-trade values.1 Given that, the movement of goods in the course of judicially confirmed agreements and arrangements should strive to be harmonized at a particular point of interaction within the internal market. However, such integration requires a deeper analysis of positive and negative implication related to selling arrangements and the point of harmonization. ... Due to the fact that the article 95 serves a powerful instrument toward establishment of more democratic ways of the internal market functioning, there is still less points on the equality proviso. On the other hand, the article 28 is put forward to reclaim the feasibility of the Courts to make sure the trade agreements are made in keeping with the best tradition of the European letter of law. To say more, the article takes notice of the national law regulations serving for proportionality as it is.4 Looking at harmonization through a lens of debates referred to the consumers’ rights, Keck doctrine emphasizes the extent of distortions. Therefore, the competition in trade relationships is merely based on the quality and transparency of the policy-making approaches by the trade companies, it is vital to mention that the distortions of competition is a normal phenomenon in the economic activity among different states. Davis highlights in his article that the difference in views o n the internal market development and the way it should be presented in a developed country serves a driven power for the emergence of distortions: In fact the relative cost differences resulting from more or less strict consumer contracts may well be extremely marginal. Consumer measures are not primarily concerned with quanta of damages, which might have, for some industries, significant economic impact5 Influence of selling arrangements cannot but be visible on a state’s performance in the world arena. The fact is that the de minimis rule is one of the core elements to provoke distortions as the opinions will differ regarding the commercial versus social implications for the society. Whereas article 95 is more relevant

What Is Economics Essay Example for Free

What Is Economics Essay Quoting Michael Yates, â€Å"The subject matter of economics is the production and distribution of output†¦Ã¢â‚¬  (Yates, 2003). So what does this say to me? Simplifying, this says to me that Economics is a way of explaining the world. With studies dating as far back as Aristotle’s interest in the various forms of state, how can one ever fully understand the complexities of economic thought and how could one definition ever sum up the entirety of what economists endeavour to understand? Meikle, Scott, 1995) The study of economics attempts to understand and to explain how and why the wealth of the world is produced, distributed, and consumed. It examines everything from global and local markets, class structures and wealth distribution, the role of government and politicians, supply and demand of products and services, the division of labour, and countless other factors that affect how and why the productions systems of the world economy function the way they do. Arguably, one of the most influential factors in defining the subject matter of economics is the division of labour. By influential I am not stating that I am of the opinion that the current distribution of labour it is positive factor to our current economic climate, just that it is an influential one. Although the famous theorist Adam Smith argued that economic growth, as a result of the productivity improvements gained, was rooted in the division of labour (Smith, 1776). He, among others, also came to acknowledge the many downsides of a deepening division of labour (Walker, 1886 Smith, 1776 Marx, 1847). Labour is distributed not only between countries and companies but also within each individual company. The wage disparity between middle and lower class and the wealth distribution between labourers and capitalists (business owners) that results from a deepening division of labour plays a much more significant role in determining what is produced, by whom it is produced, who is able to purchase these produced goods and services, and ultimately the subject matter of economics then one would initially assume. The division of labour does not only refer to the dividing of complex tasks into simple tasks so that many, easily replaceable labourers, complete one task over and over to produce a product, (associated mainly with the industrial revolution); the division of labour refers to the division of labour between organizations. In modern times, labourers from individual organizations produce goods for another organization rather than directly for a consumer. That organization then uses those goods, combined with their own, to produce a final product. This deepening of the division of labour resulted in the progressive substitution of self-sufficient production with industrial production and market exchange. (Schmidt, 2009) These worldwide networks and interdependencies between organizations, combined with the division of labour within the individual organization, further the disconnect between workers and the ownership of their work. They lose pride of workmanship, close personal relationships, direct access to the means of production, and they become â€Å"a mere appendage to the cold, implacable, pace-setting machine† (Hunt Sherman, 1986). Their work, or labour, is owned by the capitalist that owns the organization in which they work and they are left virtually powerless to control the economy in which they live. The labour of a CEO differs substantially from that of a production worker in an automotive factory, and so does the wealth accumulated by that labourer and the CEO and eventually, their heirs. The ‘labourer’ who accumulates the most wealth has the most influence over the means of production. This labourer, once they own the means of production and are able to determine what is produced and the method of production comes to be termed a ‘capitalist’. A capitalist makes no secret that goods will not be produced and dollars will not be invested in production capital, regardless of people’s needs, because production decisions in a capitalist economy are based primarily on profit (Hunt Sherman, 1986). This capitalist, and the wealth they accumulate, also has significant influence over the political economy that sets the stage for capitalism to continue to thrive and to encourage capitalist accumulation and further the deepening of the division of labour. It is in this way that capitalism and the division of labour drives our production economy and influences the global markets and the modern subject matter of economics.

The Growth Of The Takaful Industry Economics Essay

The Growth Of The Takaful Industry Economics Essay Takaful is derived from an Arabic word â€Å"Kafala† which means mutual guarantee, whereby a group of participants agree to mutually guarantee among themselves against a defined loss. This simple concept of takaful is the foundation of the takaful business, which is the present Shariah-compliant insurance Takaful is â€Å"a scheme based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the participants in case of need whereby the participants mutually agree to contribute for that purpose† The contemporary jurists acknowledge that the foundation of Takaful was laid down in the system of â€Å"Aaqilah†, which was an arrangement of mutual help or indemnification customary in some tribes at the time of the Prophet (peace be upon him). Takaful provides solidarity in respect of any tragedy in human life and loss to the business or property. The elements present in the conventional insurance viz; Gharar (uncertainty), Riba (interest) and Maisir (gambling) are against the tenets of Islam. Muslim Scholars do not object to insurance per se but only to certain weaknesses in the insurance contract (which weaknesses render the insurance contracts fasid). It is for this reason, 1972 Fatwa by National Council for Islamic Religious Affairs of Malaysia that life insurance is not lawful as it contains gharar, Maisir and riba. Hence, takaful tries to remove all these facets present in the conventional insurance and works within the guidelines of Shariah. The concept of tabarru makes the transaction permissible and valid according to Islamic law. It changes the basis of contract from an exchange contract (muawadat) which is bilateral in nature, to a charitable contract, which is unilateral. 2.0 Takaful Industry overview Globally, the takaful industry has been growing rapidly, appealing to both Muslims and non-Muslims. Currently, there are more than 110 takaful operators worldwide. As per the Ernst Youngs World Takaful Report 2009, global Takaful contributions have risen to $3.4bn in 2007 as compared to $2.5bn in 2006 (36% Growth). The new projections for 2012 for Takaful Market are US$ 7.7 bn and US$ 11.0 bn by 2015. Saudi Arabia was the biggest market in the Gulf Cooperation Council (GCC), with contributions totaling USD 1.7 bn in 2007, and Malaysia the largest takaful market in Southeast Asia with contributions of USD 800 mn. Malaysia has achieved significant milestones in the development of its takaful industry. With the enactment of the Takaful Act 1984, the first takaful company was established in 1985. Since then, the industry has been gaining momentum and increasingly recognized as a significant contributor to Malaysias overall Islamic financial system. There are currently eight takaful operators and two re-takaful operators, with five foreign participations from the UK, Bahrain, Germany and Japan. These takaful operators conduct both domestic and foreign currency business. 2.1 Current Trends and Future prospects With the expanding demographics of Islamic countries and that of the Islamic population globally, the prospect of takaful looks promising. The Accounting Auditing Organization for Islamic Financial Institutions (AAOIFI) has been playing a key role in framing and reviewing the regulatory standards governing takaful companies. With improved standards of living and increasing awareness of Takaful, the market is expected to see steady growth in per capita spend on Takaful premiums and also in terms of market share in comparison with conventional insurance. 2.2 Strategic Issues and Challenges With projected growth as described above, the industry will experience much change. As with all new product offerings, success will depend on several factors, both internal and external. Highlighted below are a number of strategic issues and challenges that providers will contend with as the industry expands. Distribution Challenges New entrants should create synergies that can be used to leverage existing distribution channels, banc-Takaful and strategic alliances across geographies. This will also enable the operators to increase premium volumes to improve profitability; a key factor in surviving the ‘start-up years. Developing Innovative Products Developing attractive and competitive products that meet diverse customer needs will be a major challenge for Takaful operators. Though Takaful operators cater to a very specific and presently unsatisfied market, they still need to create product offerings that are as sophisticated and innovative as their conventional competitors. Improving Marketing and Branding Tactics The present brand value of Takaful is relatively limited particularly in non-Islamic countries. Analysts have suggested that Takaful has enormous potential for Islamic and non-Islamic populations, offering an ‘ethical insurance alternative. Experts also propose that Takaful can potentially be a useful mechanism for poverty alleviation. Raising the Standards in Customer Service As the industry grows and becomes more competitive, building customer service skills and developing best practices will become increasingly important. At present, general customer service standards are average among Takaful providers, relative to their conventional counterparts. IT Solutions for Takaful Issues such as innovative product development, time to market, servicing of policies and claims within acceptable time lines, accuracy of calculations, cost containment, and improvement in service standards can all be facilitated by the implementation of robust and flexible IT solutions. Takaful compliant IT solutions serve an important purpose from a regulatory compliance standpoint and can help operators avoid susceptibility to unfavourable regulatory decisions and the possibility of increased regulatory compliance costs. 3.0 Takaful Models A takaful model depicts the relationship between the company and the participants. Based on the nature of relationship between the company and the participants, there are various models like Wakalah (agency) Model, Mudarabah Model and the combination of agency and Mudarabah models. In Mudarabah model that is practiced mainly in the Asia Pacific region, the policyholders get profit on their part of funds only if Takaful Company earns profit. The sharing basis is determined in advance and is a function of the developmental stage and earnings of the Company. In Wakalahmodel, the surplus of policyholders funds investments net of the management fee or expenses goes to the policyholders. The shareholders charge Wakalah fee from contributions that covers most of the expenses. In order to give incentive for good governance, management fee is related to the level of performance. 4.0 Takaful Categories 4.1 General takaful The general takaful provides protection on a short-term basis, normally covering a period of one year. It commonly provides protection for property loss or damage, liability arising from damage. In general Takaful, the company raises a fund, which called as ‘tabarru fund or account, where the participants pay to the fund. The company will invest the remainder of the fund after deducting the operational cost of the scheme. Any profit or return from the investment will be returned back to the fund. If there is any participant who faced loss or damage to his property or belonging, then the particular participant will be compensated from this fund. 4.2 Family takaful The family takaful is a combination of protection and long-term savings, usually covering a period of more than one year. It provides benefits if the insured is inflicted by a tragedy as well as potential profits. Risks covered include premature death, illness and permanent disability, and regular income during retirement. 5.0Shariah issues in Takaful: As is the case with any industry in its nascent stages, the takaful industry too is facing its own set of teething problems. Whenever we go to conferences (or) read the literature and article related to takaful, the general and the most common allegation (or) complaint is that, â€Å"Inconsistency in the interpretations of certain Shariah rules or standards is said to be an issue of the Takaful Industry†.Some of the commonly discussed Shariah issues relating to takaful are: which is the right model to follow?, who are the real owners of the takaful fund?, the methodology and the process to be adopted to share the surplus between the participants, the issue of hibah (gift) in a takaful policy, the issue of insurable interest and whether underwriting in concordant with the principles of maqaasid as-Shariah etc. So, let us analyse these issues in the light of Shariah to understand the arguments for and against each of these issues to get a clear idea on the issue. Finally, we will also try to analyze if the issue of inconsistency is as serious as it is being projected and what are the areas which need to be standardized, if at all it is required. 6.0 Issue #1: The dilemma of choosing the right takaful model In many of the takaful conferences and literature available, the question that is manifested is regarding the different takaful models existing in the world market. Some people express a desire towards a standardisation of takaful products as this will avoid confusion, facilitate regulation etc. Before we analyze the pros and cons of this thought, let us understand the modus operandi of the mudarabah model. Some people, usually criticize the mudarabah model since the operator too shares the underwriting surplus which should ideally belong to the participant. 6.1The modus operandi of the mudarabah model Generally, many Takaful companies (especially those using the Mudaraba principle) claim that their operations are based on the concept of mutual or co-operative insurance as approved by the Muslim jurists. This claim is on the basis that: They receive the premium or contribution from the insured on the basis of the Mudaraba principle, whereby the company becomes the entrepreneur (Mudarib) and the insured party the capital provider (Rab al-Mal). The insured party agrees to donate a certain percentage (or in some cases as in General Takaful the whole of the amount paid) of the premium/contribution to a special fund used to pay compensation or benefits to contributors. Any surplus left in the fund after settlement of all claims is shared by the company and the insured as profit in a ratio as agreed in the contract. An insured party who has received compensation, the amount of which is greater than what he could have received as a share of the surplus had he made no claim, is not entitled to share such a surplus. The company uses normal actuarial principles to calculate risk and premium. 6.2The industry practice Until recently, the Mudaraba model adopted by Malaysian takaful operators refers to profit as the underwriting surplus, which is the excess of premiums over claims, plus investment returns. This arrangement marks a departure from the original Mudaraba model, which will entitle the takaful operator a ratio in the investment returns, without sharing in the underwriting surplus. The modified Mudaraba model justified the sharing of the underwriting surplus on the grounds that such an arrangement would allow takaful operators to withstand competition and avoid overpricing, which may eventually sway takaful participants from takaful, and be attracted to conventional insurance, with all its non-Shariah compliant elements. This is further justified by the fact that there is nothing haram in sharing the underwriting surplus, in the view of the absence of any textual or general Shariah principle disapproving such a practice. 6.3Modes of surplus distribution Generally the surplus which is generated after paying all the claims and other expenses is distributed in the following ways. Pro-rata mode: Whether the surplus is underwriting surplus plus profit or underwriting surplus only, it is distributed in proportion to the premium paid by the participants, without differentiating between claimable and non-claimable accounts. Selective mode: This mode tends to indemnify non-claimable accounts only. Takaful operators tend to deprive claimable accounts, so that they become more prudent in the future. 0ff-setting mode: This mode tends to offset the rate of underwriting surplus from the amount claimed. This is applicable only on accounts whose underwriting surplus less than the claims. If the underwriting surplus is equal or more than the claims, then the participant does not share in the surplus. 6.4Do Takaful models need to converge? While the positive desire towards a standardisation of takaful products to avoid confusion, facilitate regulation etc, are welcome, the other side of the coin is that takaful is an Islamic phenomenon and should be viewed through the prism of fiqh and socio-cultural context. We should realise that takaful per se is not a product, and thus should not be equated with insurance. It is described as a system, rather than a product, which aims at the joint-guarantee between the contributors in a risk-covering scheme. We should not lose focus of the source of the inspiration of takaful. It is primarily to spread a risk to alleviate financial burden when it inflicts a person in a spirit of humanism. Unlike in the past, presently money is contributed in advance. This element of philanthropy should also be reflected in takaful to differentiate it with insurance, which is a pure tug of war between maximising premium to be paid and minimising the compensation to be paid. If one adulterates the spirit of takaful and treats it as a pure standardised commercial venture then the Shariah spirit may be lost. The different models in fact create a space to reactivate the juristic acumen. For any legal system to survive, especially in an era of globalisation and universalism, one should allow the system to evolve. This evolution is in turn influenced by many external factors such as politics, schools of law, tax implication etc, which differ from country to country. For instance, many multinational banks offer different home financing products in different jurisdictions. May be in one country Ijarah (lease) will best suit everybody while in another country the Murabaha (differed payment). This shows the versatility of Islamic law. The same spirit should prevail for takaful. One cannot replicate these products on the basis of Islamic law and then try to standardize the Islamic products developed on the premise of conventional products. This should not be the case, a change in mind set is required because Islamic financial products should have its own features ultimately. Standardization is good in a way as it brings in more certainty. However, one should ponder on Imam Maliks attitude towards standardization of Islamic law when Ibn Muqaffa asked the caliph of that time to standardize Islamic law. But he refused on the basis that the jurisprudence developed by other imams also had their proofs from Shariah. Hence one cannot accept only Maliki school of law. In other words Islamic law must preserve its legal elasticity. By standardizing Islamic finance one will lose the legal beauty inherent in Shariah. Therefore by accommodating various models different branch of fiqh is revived. 7.0 Issue #2:The issue of surplus distribution The most critical issue in takaful is the issue of surplus distribution. Being a taawuni instrument to provide a mutual guarantee for possible risks, surplus arises as an issue of what to do with it if such risks are dealt with through risk transfer or indemnification. A recorded surplus at the end of the financial year of a particular takaful operator is an issue that invokes both Shariah and legal scrutiny. As far as surplus distribution is concerned, two juristic views have surfaced and dominated the takaful industry in the Middle East and Malaysia. The first one categorically prohibits the sharing of the underwriting surplus between the takaful operator and the participants, but the other view validates the sharing, based on ratios that differ according to the line of products offered. The opponents of sharing the underwriting surplus back their contention by decisions taken by highly acclaimed institutions, such as AAOIFI, whose standard on takaful reads: â€Å"The Takaful operator does not share in the (underwriting surplus)†. The AAIOFI Standard on takaful states: â€Å"The underwriting surplus and its returns, less expenses, and payment of claims, remain the property (milk) of the policyholders, which is the distributable surplus. This is not applied in commercial insurance, where the premiums become the property of the (insurance) company, by virtue of contract and acquisition, which would make it revenue and a profit for commercial insurance† This statement by AAOIFI raises the issue of ownership claimed on the premium paid. On one hand, the participant has donated the premium as tabarru, hence, losing title over it, as prescribed by the rules of hibah in the Shariah, but on the other hand, he still holds claim over it in the form of getting the whole underwriting surplus or a part thereof. Hence, let us analyse the ownership issue element in hibah and the extent of its Shariah compliancy. There are a number of jurists who emphasized that pure hibah leads the wahib to relinquish his ownership over the object of hibah. Ibn Qudamah asserts that â€Å"al-hibah tamalik†- a hibah which requires the wahib to enable the beneficiary to claim title of the object of hibah. Al Imam al- Shirazi points out that â€Å"Al-hibah tamlik bighayri ‘iwadd â€Å"- a hibah which enables the beneficiary to own the object of hibah without an exchange. In such a case, the juristic implications of hibah, as Ibn Nujaym al- Hanafi asserts, will be the transfer of hibah to the beneficiary, entitling him to hold title over the object of hibah (thubut al-Milk lil mawhubi lahu). Generally speaking, the Shafi‟is view hibah as transferring the ownership of an asset without exchange during ones lifetime, on a voluntary basis. The other mazahib (schools of jurisprudence) refer to the same meaning, with a special emphasis on the element of â€Å"no exchange†, i.e.: bi ghayri ‘Iwadd. This transfer of ownership would be effective, either by way of acquisition (qabd) on the part of the beneficiary, which is the view of the Shafi‟is and Hanafis, or by way of ijab and qabul (offer and acceptance),, which is the view of the Malikis. This juristic approach is an evidence that tabarru requires the relinquishing of ownership over the object of hibah. Since the latter entitles tamlik to the beneficiary, we can rightly say that the mutabarri (donor) does not hold any legal right or claim over the asset donated. Having said so, the takaful operators are at liberty to stipulate conditions on how the underwriting surplus should be distributed, invoking the doctrine of shurut (conditions) in contracts, as articulated in Islamic jurisprudence. The only shroud of right that the donor may still enjoy to hold title of his hibah is when he donates it in exchange for a counter value, a principle known as â€Å"hibah al-thawab† Contemporary scholars like al-Qurdaghi are of the view that the principle of hibah al-thawab (a gift for on exchange) is a good premise to justify the confinement of surplus to the participants only. It is true that some of the Prophetic hadiths referring to hibah al-thawab have secured some right of ownership to the donors after donation. Abu Hurairah narrated that the Prophet (s.a.w.) said: â€Å"The donor holds an exclusive right of ownership over his hibah, provided he is not rewarded for it†. This hadith is the only piece evidence attesting to a conditional ownership of the hibah by the wahib, allowing him to retract his hibah if he is not rewarded or satisfied with the reward. However, as clearly understood from the hadith, this evidence only gives conditional retraction of the same gift, not a surplus of it. In the case of Islamic insurance (takaful), this hadith is not applicable to surplus distribution, rather it is about retraction of hibah. Another hadeeth which is given as an argument for confining the surplus distribution to the participants only is the hadith of Nahd/Nihd. It has been mentioned in Saheeh Al-Bukhari, (Book of Sharikah) that â€Å"Muslims did not see any harm in Nahd†. The latter, as Ibn Hajar explains, is â€Å"The allocation of a fund in proportion to the number of participants (in the fund)†. Although this arrangement was more useful and practical in journeys to provide mutual coverage of expenses, it has been viewed as a mechanism to transfer risks, whether in a journey or otherwise. After citing the same hadith, the appendix of AAOIFI Standard on Takaful provides an explanation to Ibn Hajar‟s definition of Nahd. The Standard states that Ibn Hajars definition of Nahd refers to the underwriting surplus, which should be redistributed to the participants, so that it could be used in another journey. Revising Ibn Hajars view in his Fath al-Bari, it can be hardly understood that Ibn Hajars definition and explanation of Nahd does not refer in any way to surplus redistribution to the same participants. The hadith, is thus, completely silent about surplus, opening the doors for ijtihad to be exercised, in view of the maqasid al-Shariahand general Islamic financial principles. Another issue raised by those who oppose the sharing of surplus to the takaful operator is that Sharing in the underwriting surplus is a kind of taking peoples property unjustly. This contention is held by prominent scholars like Hussein Hamid Hassan and Al-Qurgaghi. The contention seems to go beyond the accepted parameters of justice. Although there could be plausible grounds for such a view, in light of the practices of some takaful operators that seize the lions share of the underwriting surplus, there should not be any shred of doubt that, in light of our earlier juristic analysis, sharing the underwriting surplus is Shariah-compliant as long as it falls within the parameters of accepted conditions (shurut), as well as the principle of the rida (satisfaction), featuring such contracts. With the existence of sound regulatory framework that caps the percentage of the distributable surplus, takaful operators will not be in a position to take peoples property unjustly. 8.0 Issue #3: Distribution of death benefit in family takaful Another Shariah issue (or) concern raised is in family takaful on to whom should be the death benefit is paid after the death of the participant. One group of scholars and Takaful operators say that it should be given entirely given to the beneficiary as in the case of conventional insurance and the other group feels that the beneficiary should act as a executor of the deceased and the benefit should be distributed to the legal heirs of the deceased. So, let us analyse the arguments put forth by the two sides in the light of Shariah. 8.1The concept of mal in the light of Takaful benefit The Arabic word mÄ l, or property, originates from the root word mawala that literally means to finance. ZuhaylÄ « defines mal literally as being anything a man owns that is in his actual possession and this includes corporeal and usufruct. The classification of mÄ l by Dr. Muhammad Daud Bakar, which is suitable to the modern context, appears to adopt the majoritys definition. According to him, mÄ l or property can be classified into three types: Tangible assets like landed property, present items and stock including Islamic bonds that are asset-based such as ijÄ rah, musyÄ rakah and mudarabah bonds. Intangible assets such as copyright and royalty, trade name, trademark etc Financial rights (haqq mÄ liyy) such as rights to receive (receivable) that include Islamic bonds, deferred dowry maintenance, right to damages, the right to takaful compensation, etc. In the modern application, takaful benefit is also treated as mal (property). According to Sec.2 Takaful Act 1984, takaful benefit includes any benefit, pecuniary or not which is secured by a takaful certificate, and â€Å"pay† and other expressions. In family takaful, there are two accounts, namely the Participant Account and the Special Participant Account. The premium is paid into both accounts based on a ratio agreed by the takaful operator and the participant. The Participant Account is considered to be the deposit account of the participant whereas the Special Account is for the sole purpose of making donations. When a participant dies, there is no question regarding the heritability of the money in the Participant Account as it is part of the deceaseds estate. However, the money payable by the takaful operator taken from the Special Participant Account for the death benefit is still questionable. It is a standard practice in Malaysia that the payment of the money by the takaful operator to the nominee appointed by the deceased participant is subsequently distributed among the participants legal heirs in accordance with the farÄ `id law. The distribution of the proceeds among the legal heirs of the deceased participant has seemingly become standard practice in Malaysia. Section 65(1) of the Malaysian Takaful Act, 1984 stipulates that the payment of takaful benefits is made to the proper claimant. Section 65(4) explains that the ‘proper claimant is a person who claims to be entitled to the sum in question as executor of the deceased or who claims to be entitled to that sum under the relevant law. 8.2The concept of ownership in Takaful benefit Islamic law provides four legitimate means for acquiring absolute ownership[13]: (i) The contract of exchange such as trading and leasing contracts, and unilateral contracts such as wasiyyah, hibah and waqf, (ii) the replacement, or khalafiyyah, i.e. inheritance, the payment of diyyah and compensation, (iii) the control over permissible things such as fish in the sea and birds in the sky and (iv) The growth and the production of things owned such as eggs, milk, etc. Takaful benefit falls under the second part of the first category, i.e. unilateral contract (tabarruat). It could be contended that without the participation of the policyholder, the takaful operator would never pay the money. In other words, it is the contract entered into by the policyholder for family takaful, which generates the benefits. This contention is based on the fact that ones effort becomes a justification for ownership. As a result, the money is divisible among the heirs of the policyholder according to the law of farÄ `id. 8.3The takaful benefit to sole beneficiary vs. to the legal heirs Takaful contracts realize the obligation upon the company to pay. They do not create wealth in the insureds ownership, but rather they create an obligation to ease the burden suffered due to the losses of fellow participants. The participants contribution is his or her donation for the good of others, not for himself. The proceeds payable belong to the fund of the participants, not the takaful operator. Therefore, even though it is the deceaseds effort, the money is more appropriately to be regarded as an obligation upon the takaful tabarru fund to pay on behalf of other participant as financial assistance to the insureds family in case of death. This is the importance of considering a legal and financial entity for the fund. This monetary obligation is directly based on the agreement or promises of mutual assistance stated in the contract. In other words, the tabarru fund managed by the takaful operator on behalf of the participants agrees to pay the proceeds, and the matter of to whom they are paid should be freely and totally left to the agreement or the stipulation made by the policyholder to the company. This is similar with the condition made by the performer of wakf as he stipulated condition is binding. The primary objective of takaful is to provide financial assistance to the participants family. If the payment is payable strictly only to the heirs of the participants or insured, it implies that it is the property of the deceased. If this is so, the money is subject to the fulfilment of certain rights that must be carried out before distribution to the heirs, such as the payment of burial expenses, the deceaseds debts. This would mean that the compensation is not being used to ease the burden of the family but rather it seems that other fellow participants are under an obligation to settle the debts of the dead participants. In this regard, the creditors would have prior rights over the participants dependants. The dependants would only receive the benefits after the creditors claims have been satisfied. As such, inserting a clause legally and strictly imposing a duty on the appointed nominee to distribute the money among the legal heirs of the dead participant seems to contradict the objective of both the takaful. Inserting such a clause as currently practiced in Malaysia is not based on valid arguments. Furthermore, by considering it an estate for inheritance purposes, the takaful and insurance activity becomes a source of income. This is contradictory to the purpose of takaful i.e. mutual cooperation to ease a burden. Interestingly there are a number of contemporary fatwas allowing the distribution of takaful benefit to a particular beneficiary which is the common practice in the conventional insurance. The SAC of Bank Negara in its 34 meeting held on 21st April 2003 resolved: Takaful Benefit can be used for hibah since it is the right of the participants. Therefore the participants should be allowed to exercise their rights according to their choice as long as it does not contradict with Shariah. The status of hibah in takaful plan does not change into will (wasiah) since this type of hibah is a conditional hibah, in which the hibah is an offer to the recipient of hibah for only a specified period. In the context of takaful, the takaful benefit is both associated with the death of the participant as well as maturity of the certificate. If the participant remains alive on maturity, the takaful benefit is owned by the participant but of he dies within such period, then hibah shall be executed. A participant has the right to revoke the hibah before the maturity date because conditional hibah is only deemed to be completed after delivery is made (qabd). The Participant has the right to revoke the hibah to one party and transfer it to other parties or terminate the takaful participation if the recipient of hibah dies before maturity The takaful denomination form has to be standardized and must stipulate clearly the status of the nominee either as a beneficiary or an executor (wasi) or a trustee

North American Natives Essay -- American History, The Iroquois Nation

The early natives of North America can be divided between six different regions that they lived in. The regions were easily designated by the different environmental conditions and resources found in those areas. The regions were known as the Eastern Woodlands, the Plains, the Southwest, the Northwest Coast, the Arctic and the Sub-Arctic. Each region provided a different set of challenges that help shape the people that lived there (Harcourt, 2009). In order to survive prior to the arrival of the European settlers the native people of North America had to adapt to their environment and use what it could provide or they would parish. Each region provided what the people needed in many different forms. If the people were able to adapt and learn how to use those resources they would survive. The Eastern Woodlands The Native Americans that inhabited the area from the Mississippi River to the Atlantic Ocean and up to the Great Lakes were considered to be in the Eastern Woodlands. During that time forest covered most of that area. What the Native Americans depended on to survive was provided from the natural resources that were all around them. They used what the forest provided for their homes, food, tools, clothing and weapons. There were many different groups of people that lived in the Eastern Woodlands but the two most predominate tribes were the Iroquois and the Cherokee nations. The Iroquois Nation lived in what later became known as the northern part of the United States. The Iroquois were made up of the Cayuga, Mohawk, Oneida, Ogondaga and Seneca tribes. They were also known as League of the Five Nations and all the tribes had to agree on decisions (Cipriano, 2003). By forming the League of the Five Nations th... ...nd understanding they had developed over generations. They also relied on each other for assistance with hunting and building their homes. These skills were evident throughout all the regions as the people learned to use the natural resources around them and other members of their tribe. However you can see the impact of outside influences like the arrival of the horse and the impact it had on the Plains Indian and their old way of life. They were able to embrace this change and make it a part of their new way of life. In order for those original people of North America to survive they had to adapt to their environment or change that environment somehow so they could survive. We are facing the same challenges today as we change our environment. How we adapt to that new environment so we can survive is the challenge the people of North America faces today.

Ethan Frome Essay

Would you take a risk that would change the rest of your life for temporary feelings? If one took the risk and chose to, the effects of it could be everlasting. In the novel Ethan Frome written by Edith Wharton and the poem â€Å"When we two parted† by Lord Bryon the main characters are faced with the consequences of acting on their wrongful feelings. Sometimes people are faced with the issue of trying to hide the love they truly feel in order to keep the peace that is needed. In the novel Ethan Frome written by Edith Wharton, the main character Ethan is faced with the huge issue of catching feelings for another woman, other than his wife. This causes a huge conflict not only within himself, but also with the other people that are involved as well. It gets to the point where both Ethan and Mattie don’t think they could ever be happy if they were not together forever. Ethan once said â€Å"What’s the good of either of us going anywhere without the other one now. † They know it’s not likely for them to be, so Ethan comes up with the plan to commit suicide. If Ethan had to think of such a dark idea he most definitely has to be depressed. Being in love should never bring along thoughts and ideas like those. If Ethan did not have such feelings for Mattie none of this could have happened. He just had to have Mattie though and get rid of his wife because he could not stand it anymore. Society won’t let these two be together because Ethan is a married man. Ethan should know better than to start liking his wife’s cousin. You could call Ethan selfish, one could also argue that you can’t control who you fall for. Symbolism is a plays a big role in the story. One symbol is the last sled ride. Normally a person can control the sleigh, but in the case Ethan just lost all control and didn’t even try to take control of the situation. Just like the love triangle with him, Zeena and Mattie. It shows that he couldn’t escape the issue. He lets society and other burdens make decisions for him. unfortunately in the case because of feelings there was a life lost due to the fact of the secret affair that should never have went on. The poem â€Å"When we two parted,† by Lord Byron, portrays ones feelings when they are filled with such emotions of love and confusion. The person in the poem is dealing with the reality of having a relationship that is very toxic. In line 25 they say, â€Å"In secret we met, in silence I grieve. † From this line the reader can really feel the strong emotions that are spoken with these words. Even though he got the satisfaction of seeing the person for a small amount of time they still have to deal with the feelings after. It’s even harder because now the person can’t even talk about it because no one is supposed to know. Now they have to keep it bottled up inside for a long time, which is never good. A specific literary element that ties in very well with this poem is mood. The author made the overall mood to come across as very depressing and dark. In line three they use the words like â€Å"half broken-hearted,† and in line thirteen â€Å"broken. † By using these words it really sets the mood for the whole poem. In the poem there is more harm showing then actual good and love because of this relationship. This person is not getting what they need in a healthy relationship. When one knows from the start they are not suppose to have feelings for a particular person it leads to nothing but heartbreak. In the novel Ethan Frome by Edith Wharton and the poem â€Å"When We Two Parted,† by Lord Bryon these characters chose their own fate due to their feelings. The authors of these two works of literature felt so strong about this idea because they know how many people could relate to this very personal issue.

Fasb Topics Research Paper

Adjustments to Lower of Cost or Market 330-10-35-1 A departure from the cost basis of pricing the inventory is required when the utility of the goods is no longer as great as their cost. Where there is evidence that the utility of goods, in their disposal in the ordinary course of business, will be less than cost The inventory has a financial importance as it is purchased and recorded at its historical cost or original cost.With respect to a perpetual inventory system, inventory accounts are continually controlled as goods are purchased and placed directly into the inventory account and then later taken out when sold. Therefore the inventory is properly recognized within the period it is sold. Furthermore valuing the inventory with FIFO correctly reports the ending inventory at its market value. When ending inventory is reported at market value, before making proper year adjustments unexpected changes occur in the ordinary course of business causing the market to be lower then the co st basis of the inventory.This departure from the cost basis of pricing the inventory requires the utility of inventory is no longer as great as its original cost. The ASC allows assets to be valued with Lower of Cost or Market when evidence is proving the future utility of the inventory drops below its historical cost. The determination of the businesses cost basis for their current inventory and determination of the market calls for ruling the LCM with the conservatism principal to resolve the issue between these two divergent amounts (original cost of inventory and the market).Justification for applying Lower of Cost Or Market is the recognition of the holding loss resulting from the market being less then the company’s current inventory. Which requires a decision between reporting the inventory at its actual cost or it’s replacement cost. The conservatism principle applies with LCM by reporting the inventory on the balance sheet at replacement cost in the period it occurred also recognizing the loss in the income statement during that same period.Therefore the inventory is reported at its net realizable value on the balance sheet, and the reduction (holding loss) is properly recorded on the income statement. Question 2. Your company has acquired land that is not undergoing activities necessary to get it ready for its intended use. You have been told to capitalize interest costs (the lesser of the actual or avoidable interest costs) associated with the acquisition of the land. Should you capitalize any interest costs? FASB ASC CITATION: Capitalization of Interest 35-20-25-3 The capitalization period shall begin when the following three conditions are present: a. Expenditures for the asset have been made. ? b. Activities that are necessary to get the asset ready for its intended use are in progress. ? c. Interest cost is being incurred. ? Interest capitalization shall continue as long as those three conditions are present. We recognize the gene ral facts stated; the land for the businesses investment is purchased, and with respect to the land, activities have not been started yet to prepare it for the intended use deeming it as an asset or investment.In order for the land to be considered expenditure, it would to prove it meets ASC’s three requirements of capitalization of interest. The land generally speaking the land must be capitalized to provide evidence capitalization rates will be applied, which furthermore qualifies the land to have payments of cash, transfer of other assets, or accruing the liability of recognized interest. Only if the activities of the land are in preparation for its intended use then capitalization of interest is added to the construction of the long-term asset.From a current stand point of the land, expenditures for the land have not been made yet, the activity required for its intended use is not undergoing, and therefore interest cost incurred can not be capitalized but rather expensed on the current periods of the income statement. With respect to the facts stated on the lands current progress the interest incurred can not be capitalized. Question 3: You are to allocate an asset retirement cost (initiated by an asset retirement obligation). What guidance is given over the manner in hich the asset retirement cost should be allocated to expense? FASB ASC CITATION: 410-20-35-2 An entity shall subsequently allocate that asset retirement cost to expense using a systematic and rational method over its useful life. Asset retirement obligation requires properly allocating the asset retirement cost over the assets life of the asset. The allocation of asset retirement cost that is initiated by the asset retirement obligation includes items that that fall under FASB’s issued Statement of Financial Accounting Concepts also known as SFAC No. 6 â€Å"Elements of Financial Statements.The proper manner of allocating requires the retirement cost to be properly measured, r ecognized, and recorded when involving elements in the financial statements. The measurement of the asset must be measured properly at its historical cost. During the ordinary process a business has outflows or using up of its assets in which the expenses are then recognized under the SFAC No. 6 as Expense Recognition Principle. During the period the assets are used up from operational procedures (delivery, and production). The expense accounts recognize accumulated depreciated cost of the asset over its useful life until it fully depreciated.The combination of the assets cost minus its accumulated depreciation results the asset to its net realizable value, when fully depreciated the net amount will have a zero value. The retired asset must then be properly reported in the balance sheet. When a company decides to retire an asset it must reflects the cost properly in the financial statements. When circumstance arise and its liability of the retirement obligation incur over more repor ting periods, the incurring liabilities must be considered as an additional liability over the original liability of allocating the retirement costs.Thus stated the business must recognize and measured as an additional liability (layer) at its fair value. Furthermore guidance to allocate the retirement cost must be expensed in the required systematic way over its useful life. Applying the allocation method doesn’t enable the business from capitalizing any amounts of retirement costs and allocating the same amount to the expense account in the same period. Question 4: A warehouse located in Central Iowa was destroyed by an earthquake, the first earthquake ever reported in Central Iowa.You are questioned why you reported it as an extraordinary item, net of tax, rather than a â€Å"normal† loss related to the business operations. FASB ASC CITATION: EXTRAODINARY and UNUSAL ITEMS 225-20-45-2 Extraordinary items are events and transactions that are distinguished by their unu sual nature and by the infrequency of their occurrence. When reporting extraordinary and unusual items in the income statement some requirements must be met upon reporting the items.The extraordinary items are events and transactions that are 1. Unusual in nature meaning that underlying event or transaction has a high degree of abnormality that it is unrelated to and 2. Infrequent in occurrence meaning its underlying event or transitions is not reasonably expected to recur in the future. The ASC requires that both of the criteria stated above must bet met in order to report any items as extraordinary or unusual.Reporting extraordinary items in the income statement will be reported by its gross amount and then at net after deducting the income tax expense or saving associated with the item. With respect to Iowa, reporting the warehouse as an extraordinary item from the result of an infrequent earthquake that was unusual in nature since this was the first occurring earth quake ever re ported and infrequent because it is a natural disaster and therefore cannot be considered part of normal business operations. Furthermore deeming the warehouse as an extraordinary item.

27 Unforgettable Katharine Hepburn Quotes

27 Unforgettable Katharine Hepburn Quotes Katharine Hepburn, actress, was best known for roles in which she played strong, sophisticated women. Selected Katharine Hepburn Quotations I never realized until lately that women were supposed to be the inferior sex.Life is to be lived. If you have to support yourself, you had bloody well better find some way that is going to be interesting. And you dont do that by sitting around wondering about yourself.If you give an audience a chance they will do half your acting for you.Acting is the most minor of gifts and not a very high-class way to earn a living.. After all, Shirley Temple could do it at the age of four.When I started out, I didnt have any desire to be an actress or to learn how to act. I just wanted to be famous.Everyone thought I was bold and fearless and even arrogant, but inside I was always quaking.If you always do what interests you, at least one person is pleased.If you obey all the rules, you miss all the fun.Without discipline, theres no life at all.Enemies are so stimulating.Loved people are loving people.Love has nothing to do with what you are expecting to get - only what you are expecting to give - which is everything. What you will receive in return varies. But it really has no connection with what you give. You give because you love and cannot help giving. Sometimes I wonder if men and women really suit each other. Perhaps they should live next door and just visit now and then.Marriage is a series of desperate arguments people feel passionately about.If you want to sacrifice the admiration of many men for the criticism of one, go ahead, get married.Plain women know more about men than beautiful women do.If you’re given a choice between money and sex appeal, take the money. As you get older, the money will become your sex appeal.I have many regrets, and Im sure everyone does. The stupid things you do, you regret if you have any sense, and if you dont regret them, maybe youre stupid.Itd be a terrific innovation if you could get your mind to stretch a little further than the next wisecrack.Life can be wildly tragic at times, and Ive had my share. But whatever happens to you, you have to keep a slightly comic attitude. In the final analysis, you have got to not forget to laugh.If you survive long enough, youre revered - rather like an old building. There are no laurels in life ... just new challenges.Lifes whats important. Walking, houses, family. Birth and pain and joy. Actings just waiting for a custard pie. Thats all.It’s life isn’t it? You plow ahead and make a hit. And you plow on and someone passes you. Then someone passes them. Time levels.Life is hard. After all, it kills you.I dont think that work ever really destroyed anybody. I think that lack of work destroys them a hell of a lot more.I never lose sight of the fact that just being is fun.

Learn About the Causes and Effects of Smog

Learn About the Causes and Effects of Smog Smog is a mixture of air pollutants- nitrogen oxides  and volatile organic compounds- that combine with sunlight to form  ozone. Ozone can be beneficial or harmful, good or bad, depending on its location. Ozone in the stratosphere, high above the Earth, acts as a barrier that protects human health and the environment from excessive amounts of solar ultraviolet radiation. This is the good kind of ozone. On the other hand, ground-level ozone, trapped near the ground by heat inversions or other weather conditions, is what causes the respiratory distress and burning eyes associated with smog. How Did Smog Get Its Name? The term smog was first used in London during the early 1900s to describe the combination of smoke and fog that often blanketed the city. According to several sources, the term was first coined by Dr. Henry Antoine des Voeux in his paper, â€Å"Fog and Smoke,† which he presented at a meeting of the Public Health Congress in July 1905. The type of smog described by Dr. des Voeux was a combination of smoke and sulfur dioxide, which resulted from the heavy use of  coal to heat homes  and businesses and to run factories in Victorian England. When we talk about smog today, we’re referring to a more complex mixture of various air pollutants- nitrogen oxides and other chemical compounds- that interact with sunlight to form ground-level  ozone  that hangs like a heavy haze over many cities in industrialized countries. What Causes Smog? Smog is produced by a set of complex photochemical reactions involving  volatile organic compounds  (VOCs),  nitrogen oxides  and sunlight, which form ground-level  ozone. Smog-forming pollutants come from many sources such as automobile exhaust, power plants, factories, and many consumer products, including paint, hairspray, charcoal starter fluid, chemical solvents, and even plastic popcorn packaging. In typical urban areas, at least half of the smog precursors come from cars, buses, trucks, and boats. Major smog occurrences often are linked to heavy motor vehicle traffic, high temperatures, sunshine, and calm winds. Weather and geography affect the location and severity of smog. Because temperature regulates the length of time it takes for smog to form, smog can occur more quickly and be more severe on a hot, sunny day. When  temperature inversions  occur (that is, when warm air stays near the ground instead of rising) and the wind is calm, smog may remain trapped  over a city for days. As traffic and other sources add more pollutants to the air, the  smog  gets worse. This situation occurs frequently in Salt Lake City, Utah. Ironically, smog is often more severe farther away from the sources of pollution, because the  chemical reactions  that cause smog take place in the atmosphere while pollutants are drifting on the wind. Where Does Smog Occur? Severe smog and ground-level  ozone  problems exist in many major cities around the world, from Mexico City to Beijing, and a recent, well-publicized event in Delhi, India. In the United States, smog affects much of California, from San Francisco to San Diego, the mid-Atlantic seaboard from Washington, DC, to southern Maine, and major cities in the South and Midwest. To varying degrees, the majority of U.S. cities with populations of 250,000 or more have experienced problems with smog and ground-level ozone. According to some studies, more than half of all U.S. residents live in areas where the smog is so bad that pollution levels routinely exceed safety standards set by the U.S. Environmental Protection Agency (EPA). What Are the Effects of Smog? Smog is made up of a  combination of air pollutants  that can compromise human health, harm the environment, and even cause property damage. Smog can cause or aggravate health problems such as asthma, emphysema, chronic bronchitis and other respiratory problems as well as eye irritation and reduced resistance to colds and lung infections. The  ozone  in smog also inhibits plant growth and can cause widespread damage to crops and forests. Who Is Most at Risk From Smog? Anyone who engages in strenuous outdoor activity- from jogging to manual labor- may suffer smog-related health effects. Physical activity causes people to breathe faster and more deeply, exposing their lungs to more  ozone  and other pollutants. Four groups of people are particularly sensitive to ozone and other air pollutants in smog: Children- Active children run the highest risks from exposure to smog, as children spend a lot of time playing outside. As a group, children are also more prone to asthma- the most common chronic disease for children- and other respiratory ailments than adults.Adults who are active outdoors- Healthy adults of any age who exercise or work outdoors are considered at higher risk from smog.People with respiratory diseases- People with asthma or other chronic respiratory diseases are more sensitive and vulnerable to the effects of ozone. Typically, they will experience adverse effects sooner and at lower levels of exposure than those who are less sensitive.People with unusual susceptibility to ozone- Some otherwise healthy people are simply more sensitive to the pollutants in smog than other people and may experience more adverse health effects from exposure. Elderly people are often warned to stay indoors on heavy smog days. Elderly people are probably not at increased risk of adverse health effects from smog because of their age. Like any other adults, however, elderly people will be at higher risk from exposure to smog if they already suffer from respiratory diseases, are active outdoors, or are unusually susceptible to ozone. How Can You Recognize or Detect Smog Where You Live?   Generally speaking, you will know smog when you see it. Smog is a visible form of air pollution that often appears as a thick haze. Look toward the horizon during daylight hours, and you can see how much smog is in the air. High concentrations of nitrogen oxides will often give the air a brownish tint. In addition, most cities now measure the concentration of pollutants in the air and provide public reports- often published in newspapers and broadcast on local radio and television stations- when smog reaches potentially unsafe levels. The EPA has developed the  Air Quality Index  (AQI) (formerly known as the Pollutant Standards Index) for reporting concentrations of ground-level ozone and other common air pollutants. Air quality is measured by a nationwide monitoring system that records concentrations of ground-level  ozone  and several other air pollutants at more than a thousand locations across the United States. The EPA then interprets that data according to the standard AQI index, which ranges from zero to 500. The higher the AQI value for a specific pollutant, the greater the danger to public health and the environment.

Antigone Research Paper Example | Topics and Well Written Essays - 1250 words

Antigone - Research Paper Example Queen Jocasta’s brother, Creon, then announced that anyone who can answer the sphinx correctly will be married to his sister. Oedipus succeeded the test and eventually became his mother’s husband, fulfilling the prophecies told about him. Oedipus then sired Antigone, Ismene, Polynices and Eteocles. However, after twenty years of reigning in Thebes, the place was again plagued. Wanting to help the citizens of Thebes, Oedipus was committed to solving the city’s problem which finally led him to know the facts of his birth. Feeling guilty and angry, he then blinded himself and was exiled by his brother-in-law, Creon while his wife and mother hanged herself (Johnston). Consequently, the sons agreed to divide the rule of Thebes but Eteocles banished his brother Polynices. According to Alfred Church’s â€Å"Battle of Thebes† though, the latter returned with vengeance and a battle ensued where the brothers both die fighting each other. Recognizing Eteocles as a hero, Creon gave him a decent burial with full military honors while his banished brother, Polynices was disgraced because his uncle ordered that no one should mourn or bury him. Nevertheless, Antigone, the sister of Eteocles and Polynices feels sorry for her brother and vows to bury him. She asks her sister, Ismene, to help her but the latter was very afraid of her uncle’s decree that she refuses her sister’s request. As a result, Antigone had to bury her brother all alone during the night (Rosenberg). The famed author of â€Å"King Oedipus† and â€Å"Antigone†, Sophocles, was born in 496 B.C and lived to be ninety. He was born to a wealthy family so that he was given the best education during his time. Consequently, he became one of the best writers to survive fame to modern days. He is known to have written more than a hundred plays and ninety-six of which won first prize in the Athenian festivals held in the honor of Dionysius, the god of wine. U nluckily, only a few of his works survived (Rosenberg). Sophocles is recorded not only as a respected literary genius but he is also known for being a good Athenian citizen. Having been borne during the Persian war, a battle fought between the Greek city-states and the Persian Empire, Sophocles became well-informed about wars (Rosenberg). Politics has become important an information that is widely used by Sophocles to give color to his narrations. However, the events during his lifetime were not the only influences to his writing but the existing religious beliefs as well which includes Greek mythology characters as evident in â€Å"Antigone†. In addition, he also delves in the personal and familial relationships of his characters. When â€Å"Antigone† was written, the Peloponnesian war, the battle between Athens and Sparta, was still ongoing and this perhaps had a great impact on the story. According to historical accounts, the city of Epidamnus sent to inquire from D elphi if they are supposed ask protection from Corinth and an oracle was give that they are supposed to submit to their mother country (Crawley). In relation to Sophocles’ story, it is obvious how he showed such practice of kings, relating how Creon encouraged Oedipus to ask help from the prophet Teiresias on what to do when their city was plagued. It should also be remembered that the reason

Monsoon Essay Example | Topics and Well Written Essays - 3000 words

Monsoon - Essay Example Whereas buyers have a specific role in ensuring that there are productive relationships with suppliers besides negotiating on various important details that includes prices, exclusivity, and well as the distribution channels. On the other merchandisers are usually responsible for ensuring that an organization’s stock performs well within the market. Nonetheless, both merchandisers and buyers perform different functions in respect to organizations. The following discussion aims to develop a critical understanding of the various roles and responsibilities of buyers and merchandisers. The breath of activities that the buying & merchandising function undertake in delivering this requirement successfully is explored in this paper that comprises two parts (Jackson & Shaw, 2001). The paper also creates an understanding of development, creation, supply, and delivery of a fashion product range in respect to buyers and merchandisers (Goworek, 2007). Buyers and merchandisers play a significant roles and responsibilities towards ensuring that there is a fashion product range capable of meeting the demands, tastes, and preferences of consumers (Goworek, 2007). Firms involves in fashion development have to create effective product range that will definitely take care of all the existing and potential customers. The following are some of the functions of buyers and merchandisers in respect to fashion industry. A typical buyer has various roles and responsibilities in ensuring that there is a good fashion product range that meets the demand, tastes, preferences, and needs of the consumers (Goworek, 2007). One of the functions of buyers within buying and merchandizing involve monitoring and maintaining of the gross margin plans through engaging in controlling markups, shortages, stock levels, markdowns, and turnovers. A fashion buyer has the

The Main Problems Of Fast Food Essay Example | Topics and Well Written Essays - 750 words

The Main Problems Of Fast Food - Essay Example Fast food restaurants have become a factor that makes families spend less time together since mealtime is the only time a family has for all its members to come together for sharing experiences. With fast food restaurants, the family time has been eaten away, and especially for the youngsters who prefer fast food restaurant because of it a place where they hang out with their fellow peers. Even though I see fast food restaurants as an intervention of current generation in the way ready-made food is served in a faster way, it is a big concern the way these foods have high amounts of salts and fats hence have adverse effects on our health. It is important, therefore, to make good choices during the process of ordering food in a restaurant while being active in our daily lifestyle in order to minimize adverse effects of fast foods. Preventing overweight usually involves balancing of energy while addressing factors that greatly affect eating and the physical activity (Boyle, Long and Rot h 328). A hard-working professional who is working in a city will definitely prefer readymade food due to various reasons, and with the benefits and setbacks that come with fast foods, many of them have centered their interests on the positive effects of eating fast foods. Many people who often find no time to prepare food at home opt to take fast food because it takes few minutes to be ready. Nevertheless, besides all the advantages that come with fast foods, they also come with setbacks hence they are not an exception.

Nursing - care plan Essay Example | Topics and Well Written Essays - 3250 words

Nursing - care plan - Essay Example 230). Impaired mobility is related to a variety of factors, including activity intolerance, perceptual or cognitive impairment, musculoskeletal impairment, neuromuscular impairment, medical restrictions, prolonged bed rest, limited strength, pain or discomfort and depression or severe anxiety (Gulanick & Meyers 2003, p. 107). When the patient has impaired mobility, there is also risks which are associated with a lack of physical exercise – circulatory and respiratory problems and poor physical condition (Sparks & Taylor, 2005, p. 29). II. Why the patient needs to be at the centre - Stroke is a medical issue which is multifaceted. Cowman et al. (2010, p. 1) states that 50% of stroke victims will make a full recovery, 30% will make an incomplete recovery with no need for assistance with any functions, and 20% will make an incomplete recovery with a need for assistance with some functions. Horgan et al. (2011, p. 4) states that, despite the statistics which show that a good perce ntage of stroke patients have some disability upon being discharged from the hospital, follow up care is often lacking. According to Miller et al. (2010, p. 2403), care for a stroke patient should consider three factors: pathophysiological factors, the impact on the individual, and the individual's environmental and personal resources. Hartigan et al. (2011, p. ... 2011 p. 23). Moreover, there is ample indication that strokes do not just affect the patient, but the caregivers as well. Lutz & Young (2010, p. 152) state that caregivers of stroke patients suffer depression, isolation, a sense of being burdened, a decline in physical and mental health and decreased quality of life. However, Khan et al. (2012, p. 1) indicates that caregivers may not always be given the proper support. It is therefore crucial that the patient participate in his or her own recovery, in that it will alleviate the burden on the caregiver as well as give the patient a better outcome. That said, it is important that the perceived nursing behavior be conducive to this. The patient's perception of the nurse's behavior influences how active the patient will be in participating in his or her own recovery process (Larsson et al. 2011, p. 1). All of these factors must be considered in planning a nursing care program for a stroke survivor, because one of the goals must be to pre vent readmission to the hospital, because hospital readmission results in higher mortality rates, greater disability levels and increased costs (Licthman et al. 2010, p. 2526). Therefore, it is important that Mr. Brown and his caregiver, his wife, be at the centre. Both need to understand what will be involved in Mr. Brown's recovery, and both need to understand the steps that will be needed to take. Because of the evidence that the burden on the caregiver is acute, and that the stroke patients' hope for recovery hinges partially upon social and environmental needs, and, additionally, the evidence suggests that patients must participate in their own care, the most important goal is to increase the mobility of the patient. This will ultimately not only be beneficial to the patient,

Business english and communication Assignment Example | Topics and Well Written Essays - 1500 words

Business english and communication - Assignment Example They also manufacture televisions, storage devices, mobile phones, office equipment--like computers, notebook PCS, monitors, printers, and LCD displays--photography equipment, surveillance equipment, and household appliances. Much of this is usually produced in Korea, and it is shipped to other countries to be sold. Communication is done between staff in the department via memos, messages, meetings, conferences, and phone calls. The HR department communicates primarily through email and phone correspondence, as well as in person. The general manager communicates with them via the same means. The marketing department communicates through the use of memos, emails, phone correspondence, and personal meetings with other staff to determine their next steps to take as far as getting products out to the public. The marketing department also uses press releases to give news to the public about new product releases. Once the marketing department and other company staff meet to determine what their next product lines will be, the production staff is then notified, and they work on producing what will appeal to the public. Samsung corresponds with other companies located in different countries, such as between Korea and the US, to distribute their products as affiliates. The affiliates keep in communication with the main company through email and phone. The function and communication structures of Samsung are very solid, cut, and dry. Staff within the headquarters can communicate with one another quickly and efficiently, as they can meet within offices and hold conferences should the need arise. Disputes within the company can be resolved quickly, and sudden changes can be communicated without much delay. The only weakness that can be seen is that their manufacturers are in Korea, which can present some issues with language barriers. Other than that, Samsung seems to be very well run. Then, there is Microsoft. Microsoft is a

The Nora Eccles Harrison Museum of Art Essay Example | Topics and Well Written Essays - 250 words

The Nora Eccles Harrison Museum of Art - Essay Example In addition to that, the particular individual allocated the role is also expected to explain any questions pertaining to the archived materials in the museum. On the contrary, with the incorporation of fascinating art constructed in a surrounding which is resembles a stage, suggests a narrative or metaphorical significance. Notably, the objects in the museum have been arranged in the museum following the criterion of subject. Apparently, fascinating objects have been place together and likewise for other subjects for instance those with metaphorical significance. Evidently, the key criterion in the categorizing of the archived objects is based on the age. Apparently, they are arranged in this manner for convenience purposes. It is important to note that the content in this section are similar based on the theme they champion which is American history. 4. Objects and items from the museum’s permanent collection are displayed in the gallery areas on the lower first floor. Identify three pieces of art each of which is an example of a distinct genre or style. For each painting/object explain what the genre/style is and why the piece fulfills the generic criteria. Three pieces of art with a distinct style include a set of 27 the drawings by Jim Starret collectively known as ‘Fragments of Terror.’ Evidently, the drawings exhibit a cool passion that exudes a vibrant ‘fiery ice.’ In this regard, the drawings exude pattern of rationality that is characteristic of an emotional appeal and mechanical resonance. All the pieces displayed are my favourite and I find it hard to decide on one particular object. However most of the works of art are unique in the manner in which the old ink paint has been blended with the

Nursing - care plan Essay Example | Topics and Well Written Essays - 3250 words

Nursing - care plan - Essay Example 230). Impaired mobility is related to a variety of factors, including activity intolerance, perceptual or cognitive impairment, musculoskeletal impairment, neuromuscular impairment, medical restrictions, prolonged bed rest, limited strength, pain or discomfort and depression or severe anxiety (Gulanick & Meyers 2003, p. 107). When the patient has impaired mobility, there is also risks which are associated with a lack of physical exercise – circulatory and respiratory problems and poor physical condition (Sparks & Taylor, 2005, p. 29). II. Why the patient needs to be at the centre - Stroke is a medical issue which is multifaceted. Cowman et al. (2010, p. 1) states that 50% of stroke victims will make a full recovery, 30% will make an incomplete recovery with no need for assistance with any functions, and 20% will make an incomplete recovery with a need for assistance with some functions. Horgan et al. (2011, p. 4) states that, despite the statistics which show that a good perce ntage of stroke patients have some disability upon being discharged from the hospital, follow up care is often lacking. According to Miller et al. (2010, p. 2403), care for a stroke patient should consider three factors: pathophysiological factors, the impact on the individual, and the individual's environmental and personal resources. Hartigan et al. (2011, p. ... 2011 p. 23). Moreover, there is ample indication that strokes do not just affect the patient, but the caregivers as well. Lutz & Young (2010, p. 152) state that caregivers of stroke patients suffer depression, isolation, a sense of being burdened, a decline in physical and mental health and decreased quality of life. However, Khan et al. (2012, p. 1) indicates that caregivers may not always be given the proper support. It is therefore crucial that the patient participate in his or her own recovery, in that it will alleviate the burden on the caregiver as well as give the patient a better outcome. That said, it is important that the perceived nursing behavior be conducive to this. The patient's perception of the nurse's behavior influences how active the patient will be in participating in his or her own recovery process (Larsson et al. 2011, p. 1). All of these factors must be considered in planning a nursing care program for a stroke survivor, because one of the goals must be to pre vent readmission to the hospital, because hospital readmission results in higher mortality rates, greater disability levels and increased costs (Licthman et al. 2010, p. 2526). Therefore, it is important that Mr. Brown and his caregiver, his wife, be at the centre. Both need to understand what will be involved in Mr. Brown's recovery, and both need to understand the steps that will be needed to take. Because of the evidence that the burden on the caregiver is acute, and that the stroke patients' hope for recovery hinges partially upon social and environmental needs, and, additionally, the evidence suggests that patients must participate in their own care, the most important goal is to increase the mobility of the patient. This will ultimately not only be beneficial to the patient,

The Nora Eccles Harrison Museum of Art Essay Example | Topics and Well Written Essays - 250 words

The Nora Eccles Harrison Museum of Art - Essay Example In addition to that, the particular individual allocated the role is also expected to explain any questions pertaining to the archived materials in the museum. On the contrary, with the incorporation of fascinating art constructed in a surrounding which is resembles a stage, suggests a narrative or metaphorical significance. Notably, the objects in the museum have been arranged in the museum following the criterion of subject. Apparently, fascinating objects have been place together and likewise for other subjects for instance those with metaphorical significance. Evidently, the key criterion in the categorizing of the archived objects is based on the age. Apparently, they are arranged in this manner for convenience purposes. It is important to note that the content in this section are similar based on the theme they champion which is American history. 4. Objects and items from the museum’s permanent collection are displayed in the gallery areas on the lower first floor. Identify three pieces of art each of which is an example of a distinct genre or style. For each painting/object explain what the genre/style is and why the piece fulfills the generic criteria. Three pieces of art with a distinct style include a set of 27 the drawings by Jim Starret collectively known as ‘Fragments of Terror.’ Evidently, the drawings exhibit a cool passion that exudes a vibrant ‘fiery ice.’ In this regard, the drawings exude pattern of rationality that is characteristic of an emotional appeal and mechanical resonance. All the pieces displayed are my favourite and I find it hard to decide on one particular object. However most of the works of art are unique in the manner in which the old ink paint has been blended with the

Study Habit Problem Essay Example for Free

Study Habit Problem Essay Introduction: As we all know one of the reason why many students are not serious in studying is the modern technology. We as a student are addicted in modern technology especially on social media for example are facebook, twitter and tumblr. We can communicate to others and know’s what is going on in the world and to know what is new and what is old. The second reason is the computer games. Most of the students are playing computer games. Teenagers specially boys are addicted on Dota, Garena, League of Legends and Special Force this are the games that boys wants from their vacant hours. In the years where computers are not yet invented, students are not yet engaged in activities using technologies. Students rely on books and visit library facilities to study, read their notes and to review their school lessons. During those years, despite the lack of computers and hi-tech gadgets students still achieve high and good grades and the students are still focused on their studies. They strive hard just to attain higher and better grades in their education. As years passed, industrial evolution occurred and great changes and improvements happened. One of these changes is the invention of the computer. Some people can’t afford to buy one for themselves or for their children. But for people who have enough money to buy themselves a computer, they are lucky because they can use the computer to make things easier for them. Students can use the computer to do their home works and projects. Students who can’t afford to buy a computer just go to the library to read books, to do research works, and to make their school projects. During the years when computers were first invented, people make use of computers to help them accomplish their works and to make their tasks lighter and faster. Now in the present time, the age of modern technology, where almost everything is high-tech, computer technologies has greatly improved and has had become better. These days, the computer technology industry is rapidly growing and changing. Along with that growth and change of computer technology are the people who almost instantly adapt to the changes. The reason why computers technologies are invented is to help make people’s life easier and to improve their way of life, especially the students. Modern computer technologies make studying easier and fun to students. Answering assignments means that one will have to read chapter after chapter in their textbooks. Nowadays, vital information may be obtained by merely a click of the mouse. Everything is readily available at their fingertips, so to speak. Oftentimes, students say, â€Å"Thank God for the internet†. While this may be true, there are also harmful effects on students which may fall under the physical, psycholo gical, emotional, mental and social aspect. Basically, students make use of the internet in answering assignments and doing research work. However, students would often be making use of social networking sites while simultaneously doing their assigned tasks. This means that the student is not a hundred percent focused on accomplishing what is required. It also takes them a longer time in completing the assigned task. As a result, the student therefore, is more physically exhausted, often spending the wee hours in the morning due to the fact that he or she is actually multi-tasking. It has been observed that almost every week, more updated gadgets are being introduced in the market. For the adolescent, who is in the third plane of development, there is this need to belong to a certain group. More often than not, social cliques mean dressing alike, thinking alike, and even having similar gadgets are some of the basis in order to be part of a specific group. Hence, the adolescent is psychologically, emotionally and even mentally affected if and when an updated version of these gadgets is out in the market. There is this need to have these gadgets in the hope of being â€Å"in† with the group. It is one way of satisfying the need to belong to a social group which means that it also affects the social aspect of the student. Having seen both sides of the coin, are modern gadgets beneficial or harmful to students? We would say both there are beneficial and harmful effects not only to students but to anyone for that matter. The key is still in our hands. Remember that anything in excess could have negative results. Modern technology including modern gadgets has been invented for mankind’s convenience. Let us show gratitude to the men of the past who have painstakingly invented and devised ways to make life easier. Let us make use of modern technology effectively, wisely and responsibly. Statement of the Problem: The Researchers wish to make the study on â€Å"The Effects of Modern Technology in the Study Habit of Information Technology or IT students of UBLC†. To achieve this objective, the researchers want to determine the answers for the following question: 1. What is modern technology? 2. What are the sites that can affect most to you as an IT student? 3. You as a student, what are the main reasons why you are addicted in modern technology? Chapter II Review of Related Literature and Related Studies Accountability * Technology has given us nearly instant communication. In addition, more people are able to view information and products than ever before. The increase in communicative ability and access to data is beneficial in that it creates a certain level of accountability. For instance, members of the media are under more pressure to report accurately, since the data they report is seen by potentially millions of people worldwide. Travel * Better technology in many instances has led to better travel. Planes fly more efficiently to more places than ever before, for example. The benefit is that it is very easy to transport both people and goods from place to place. The resulting global economy keeps prices low. People do not need to work or live only in their native area. However, better travel also means that people are more likely to spread disease from place to place, and a global economy means that some inferior or unsafe products may be widely distributed. Health Improvements * For the most part, increased technology has led to improvements in health. Doctors now have ways to tell how sterile an environment or tool is. They have many different machines that can monitor vital signs or that can be used in medical procedures. Without this technology, many people would not recover from their illnesses, and disease would spread more rapidly. Health and Other Concerns * Although modern technology can improve health, there is concern that the excessive use of technology may promote some health problems. For instance, those who work in front of a computer screen or who watch a lot of television every day are more sedentary, which can lead to physical problems. There also is concern that technology is reducing the social skills held by people and that it allows for a decrease in safety, such as with child pornography posted on the Internet. Additionally, modern technology may be creating some problems in that it can be used improperly, such as with atomic bombs during war. Considerations/Regulations * Whether technology is beneficial or harmful depends largely on the way it is used and who is wielding the technology. For instance, computer email can be used to share family photographs, or it can be used to send out attachments that damage the recipients computer and steal information. Some regulations on modern technology thus are needed in order to guarantee or to protect individual and social safety. Negative Effects of Technology on Children According to a New York Times article this January, the average kid, ages 8-18, spends over 7  ½ hours a day using technology gadgets equaling 2  ½ hours of music, almost 5 hours of tv and movies, three hours of internet and video games, and just 38 minutes of old fashioned reading according to the Kaiser Family Foundation, which adds up to 75 hours a week! These statistics are not just mere numbers; they are a reflection of the way our society is heading. There is a direct correlation of amount of hours spent with gadgets and obesity, poor grades, impatience, violence, and a loss of family interest. Obesity According to the Center for Disease Control and Prevention in a study in 2004, 16% of children (over 9 million) that are between the ages of 6 -19 years old are overweight or obese, a number that has tripled since 1980 (mostly due to electronic usage). Being overweight can bring with it great health concerns. Many of these children have a good chance of developing Type II Diabetes, asthma, sleep apnea, social discrimination, high cholesterol and/or blood pressure. Also, according to a Stanford University of Medicine study, elementary students consume 20% of their daily calorie intake while watching television, which usually includes unhealthy snacks, largely due to advertisements for junk food and boredom. Coincidently, kids are not burning off any of these calories while they are plopped in front of the television. Academics Another area of focus is that children who spend too much time in front of the television or playing video games tend to have worse grades than those students who are active and involved in extracurricular activities. Studies have shown that since they are so used to multi-tasking they have trouble focusing all of their attention on schoolwork. Studies performed by Dr. Rosen at Cal State showed that 16-18 year olds perform 7 tasks, on average, at one time like texting on their cell phone, sending instant messages while checking Facebook with the television on. â€Å"I worry that young people won’t be able to summon the capacity to focus and concentrate when they need to,† said Vickey Rideout, a Vice President at the Kaiser Foundation. Laziness Impatience goes hand in hand with the laziness kids are starting to develop. Due to the ease of access to the internet kids now expect immediate responses and rely on the internet to give them all of the answers. They expect answers before they take time to think about solutions. According to an article in the New York Times this January, new technology is creating mini-generation gaps and are most visible in communication and entertainment choices. Dr. Rosen said that the newest generations, unlike their older peers, will expect an instant response from everyone they communicate with, and won’t have the patience for anything less. â€Å"They’ll want their teachers and professors to respond to them immediately, and they will expect instantaneous access to everyone, because after all, that is the experience they have had growing up,† he said. This is a common problem of kids of this generation and kids are losing the value of learning from their mistakes. Family Life Families are being hurt as well by all of the new technology. When a group of 4-6 year olds were asked to choose between watching TV and spending quality time with their fathers, 54% of them would rather watch TV. Also, according to the same survey reported by the A.C. Nielson Company the average parent spends three and a half minutes A WEEK having meaningful conversations with their children. Technology is creating a generation gap that makes parents feel as though they can’t relate to what their kids are doing. Violence Another controversial topic circling right now is the amount of violence kids are exposed to while playing video games or watching television. Many TV shows now posses poor role models and expose children to things that they may be too young to see while video games allow kids to play with fake guns. The same survey by A.C. Neilson Company reported that by the time a child finishes elementary school they will have already witnessed 8,000 murders. In the USA an average of 20-25 violent acts are shown in children’s television programs each hour. A significant association was found between the amount of time spent watching television during adolescence, with its exposure to violence, and the likelihood of subsequent antisocial behavior, such as threatening aggression, assault or physical fights resulting in injury, and robbery. Young children are more easily impressionable. have a harder time distinguishing between fantasy and reality. cannot easily discern motives for violence learn by observing and imitating. http://www.personal.psu.edu/djw5068/assignment%205.html http://www.orionbataan.com/component/content/article/68-education/528-modern-technology-and-its-effects-on-students.html http://www.studymode.com/subjects/effects-of-modern-technology-to-the-students-page1.html

The Predictions Of Nostradamus

The Predictions Of Nostradamus Thesis Statement: The accuracy and basis of Nostradamuss prophecies should be enough to persuade people to consider the prophecies as a reference to future events that may happen in the world. Nostradamus Life and times of Nostradamus Educational background Work experiences Religion and beliefs The prophecies of Nostradamus The prophecies that were said to have happened exactly the way Nostradamus stated Century 1, Quatrain 35 prophecy and the Death of Henry II Century 2, Quatrain 51 prophecy and the Fire of London in 1566 Century 1, Quatrain 14 prophecy and the French revolution Century 8, Quatrain 1 prophecy and the first anti-Christ, Emperor Napoleon Century 1, Quatrain 25 prophecy and Pasteurs discoveries Century 9, Quatrain 11 prophecy and the effect of the death of Dr. Jose Rizal to the public Century 1, Quatrain 26 prophecy and the assassination of President John F. Kennedy and his brother Robert Century 2, Quatrain 24 prophecy and the occurrence of World War II Century 4, Quatrain 13 prophecy and Ferdinand Marcoss end of supremacy as the president of the Philippines Century 10, Quatrain 98 prophecy and the rise of Corazon Aquino as the president of the Philippines after Marcos Century 2, Quatrain 28 prophecy and Princess Dianas death The prophecies that were said to have happened but not exactly the way Nostradamus predicted Century 3, Quatrain 35 prophecy and the expedition of Ferdinand Magellan Century 5, Quatrain 29 prophecy and the existence of Adolf Hitler as the second anti-Christ Century 6, Quatrain 97 and Century 10, Quatrain 72 prophecies and the 9-11 bombing of the World Trade Center in New York City Future predictions of Nostradamus and interpretations by some experts Century 8, Quatrain 77 and Century 9, Quatrain 92 prophecies and the existence of a third anti-Christ Century 2, Quatrain 39 prophecy and the beginning of World War III Century 2, Quatrain 65 prophecy and the earthquakes in Los Angeles and Lombardy Century 10, Quatrain 74 prophecy and the start of the end of the world Possible basis of Nostradamus in making prophecies Culture His religion His studies Effects of the prophecies that came true to the people and the world Beliefs of people and impressions on Nostradamus Nostradamus versus religion Using the prophecies as reference to future events Accuracy Basis Table of Contents Title Page Introduction 1 Life and times of Nostradamus 1 Discussion 4 1.Accurate Prophecies 5 The Death of Henry II 5 Fire of London 6 French Revolution 6 Napoleon Bonaparte 8 Louis Pasteur 8 Dr. Jose Rizals death 9 Kennedy Assassinations 10 World War II 10 Ferdinand Marcoss fall 11 Rise of Corazon Aquino 12 Princess Dianas death 12 1.Precise and Vague Prophecies 13 a.Expedition of Ferdinand Magellan and Adolf Hitler 13 b.Adolf Hitler as the Second Anti-Christ 14 c.9-11 bombing of World Trade Center in New York City 15 Nostradamuss predictions for the Future 16 Existence of a third Anti-Christ 16 2. Beginning of World War III 17 2.Earthquakes in Los Angeles and Lombardy 17 3.Start of the end of the world 18 Possible basis of the prophecies 18 1.Beliefs of people and their impressions to Nostradamus 21 2.Nostradamus versus religion 23 Conclusion 24 References 25 A.Books 25 B. Thesis 26 C. Online Sources 26 Introduction Seeing the future is a one of a kind talent. Fortune tellers, palm readers, psychics and the like are people who claim that they have this gift. Some believe them although some say that they just want to make money. But a few of these psychics are famous because some of their predictions really did come true. The tendency is that people uses the predictions of this few psychics as a reference to future events. One of these few is Nostradamus, the seer of the century (Visions and Prophecies, 1988). Life and times of Nostradamus Nostradamus or Michel De Nostredame was born to James de Nostredame and Renee de Saint Remy on December 14, 1503 in Provence, France (Nostradamus, 2003). His family was originally Jewish but they were converted to Christians after his grandfather was converted due to the government in France. Nostradamuss mother has ancestors that were experts in both mathematics and medicine. One of the family members was the doctor of Rene or Renatus, the ruler of Jerusalem and Sicily, and the count of Provence. Another member is also a doctor to the Duke of Calabaria named John who was the child of King Rene. Nostradamus indicated in his commentaries that he inherited a great understanding of mathematics from his ancestors. He also claims that his ancestors are from the tribe Issachar where he got his gift of prophecy. The tribe Issachar were said to be me that comprehend time or the seven wise men that knew the times, according to Esther i. 13 (Ward, 1940). Also, Michael De Nostradame is the gran dson of two famous physicians-astrologers John de Saint-Remy and Peter De Notradame (Henson, 1959). At 15, Nostradamus studied humanities courses at the school in Avignon. But after a year, he was forced to leave the university because of a breakout of a plague in the place. He then studied philosophy and theory of medicine at the University of Montpellier, the most well-known school of medicine in France. When Huguenots had taken over Montpellier in 1561, the churches and other religious establishments disappeared and the place became the head office of the Huguenots. That was what Nostradamus saw when he was studying there. Being a devoted person to his religion, the conquering of the Huguenots may have irritated him and influenced his writings like Sixains and Presages (Ward, 1940). After graduating, Nostradamus was able to find a cure to the plague that was poisoning some of the places around Montpellier (Visions and Prophecies, 1988). He then travelled and passed by a town on the Garonne called Agen when he was coming back to Toulouse. Here he met a friend named Jules Cesar Scaliger that encouraged him to live in the town. But then their friendship didnt go well until they treated each other as rivals and remained cold to one another. Nostradamus married a lady described as une fort honorable demoiselle in Agen but history didnt reveal her name. This wife and his two children died because of the plague in 1543. People were furious at Nostradamus since he wasnt able to protect his own family from the plague that he was able to cure years before that. He then went back to Provence after that (Ward, 1940). And then Nostradamus travelled again. When Nostradamus arrived at Marseilles, the Parliament of Provence induced him to come to Aix. He lodged there for three years being paid by the government, since the disease went out in 1546. The disease spread severely and it is said that the he deliver his reports in his book Le Theatre du Monde to Seignuer de Launay (Ward, 1940). In Salon de Craux, which is between Avignon and Marseilles, he married a woman named Anna Poussuart Genelle. Nostradamus and the second wife had six children, three boys and three girls. He was in that moment when he was foretelling that a great change is about to happen in Europe and there are a lot of troubles that are soon to happen in the kingdom of France. Nostradamus experienced eagerness in his mind that made him write his Centuries and other Presages. The famous book Centuries features his now famous prophecies. In this book, he included two important letters to two important persons: his son, Cesar and Henry II, who was the reigning King during his time (Ward, 1940). One of Nostradamuss journalist says that Nostradamus published the books because he wants to be of help to the community. He kept the books with him for so long because he was a little frightened. He saw threats that would happen if he publishes the books and that would lead to many other problems. He could have been a target for the government if he says that he used Astrology in predicting. According to Ward (1940), some quatrains of Nostradamus refer to planets and the others that are harmony to the sacred scriptures. After the publishing, rumors began to spread locally and internationally and that rumor says that something marvelous and admirable appeared. Obviously, he published the books because he wanted to; and when a person really wanted something, he would find a way to make what he wanted to happen (Ward, 1940). There was a story about Nostradamus that says he knelt down in front of Felice Peretti, a young monk, and said, Your holiness. Before becoming Pope Sixtus V in 1585, Peretti first became an investigator for Venice (Visions and Prophecies, 1988). In 1586, Peretti published a book Judicial Astrology that notifies the readers that God is the only one who can identify the future. Nostradamus gave up on the use of Astrology, maybe because he was affected by the rumors about his prophecies, but he thinks it can still be practiced if the Church allows it to be able to make predictions about the weather and other natural phenomenon (Pocock, 1995). Another story about Nostradamus was told. Seigneur de Florenville dared Nostradamus to predict the future of one black pig and one white pig. Nostradamus said that de Florenville will eat the black one while the white one will be eaten by a wolf. De Florenville, being a skeptic, wanted to disprove Nostradamus. He asked his chef to cook the white one for him. When dinner was served, de Florenville thought that he had won but Nostradamus stayed firm in his statement. So de Florenville asked his cook to tell the truth and the cook confessed that the white one was taken by a wolf so he served the black one (Visions and Prophecies, 1988). On the 2nd of July year 1566, Nostradamus died because of the arthritis that went worse for days before that day. Jean Aimes said that Nostradamus knew very well what time, hour and day, he will die. Nostradamus reminded himself about the end of June and he wrote on his hand, in the Ephemerides of Jean Stadius, Hic prope mors est (Here is death at hand.). The day, says this friend, before he exchanged his life for a better, after I had spent many hours with him, and late at night I was taking leave of him until the following morning, he said, You will not see me alive at sunrise'(Ward, 1940). Discussion Accuracy of the Prophecies of Nostradamus Nostradamus wrote his prophecies in quatrains. Each Centuries book has 100 prophecies except for Century VII (Galang, 1983). Century VII only has 42 prophecies summing up to 942 four-line verses of prophecies. The prophecies of Nostradamus start in the year 1560 and it ends in the year 3797 because he believed that the world will come to an end in that year. It is written in French, German or Latin with words that are ambiguous and some words that the writer had invented (Emery, 2009 12 September). Nostradamus said that he wanted to write the exact dates to the prophecies but did not do so to avoid being tagged as a sorcerer (Visions and Prophecies, 1988). Evidences here are to show the accuracy of the prophecies made by the seer. Accurate Prophecies Some of the prophecies made by Nostradamus can be linked to a famous event. It was said that Nostradamus predicted the following events that became a huge hit to the community (Fedalizo, 1997). Here are some of the prophecies of Nostradamus that came true exactly the way he said it. The Death of Henry II The start of the rise of Nostradamuss prophecies was when he was called by King Henry II and his wife, Catherine De Medici (Roberts, 1994). The queen was aware of the writings of Nostradamus. When she read the following prophecy, she immediately called the seer to court to interpret his prophecy. The young lion will overcome the older one, in a field of combat in single fight: He will pierce his eyes in their golden cage; two wounds in one, then he dies a cruel death. (Century 1, Quatrain 35) Nostradamus interpreted the prophecy as the process of the death of King Henry II. The king ignored what Nostradamus said. In July 1559, he joined a jousting tournament of St. Antoine for a double celebration of the unions of his sister Elisabeth to Philip II of Spain and his daughter Marguerite to Duke of Savoy (Roberts, 1994). There, Henry II went to a fight against Montgomery, the captain of the Scottish guards, who is six years younger than him (Visions, and Prophecies, 1988). The two fighters each have a lion engraved in their shields. On the first bout, King Henry II lost. Being a king, he wanted to win so he pleaded for a rematch. On the next bout, the two fighters splintered lances successfully but Montgomery accidentally wounded Henry II right in the kings eye through his golden screen (Cheetham, 1989). The wound caused his eye to bleed and damage his brain as well. After 10 days of hardship, King Henry II died. Fire of London Another prediction of Nostradamus that is unbelievably accurate was the prediction about the Fire of London. The blood of the just will commit a fault at London, Burnt through lightning of twenty threes the six: The ancient lady will fall from her high place, Several of the same sect will be killed. (Century 2, Quatrain 51) In the year 1666, there was a big fire in the city of London that damaged almost four-fifths of the city. All the landmarks: the houses made of wood, city streets, churches including the St. Paul Cathedral were destroyed. The fire lasted for five days. Fortunately, only sixteen people died in this accident. Interpreters say that the just or justice Nostradamus was talking about was the disappearance of the plague in London since many rats carry the Black plague that was spreading that time (Cheetham, 1989). French Revolution Next in the many prophecies of Nostradamus that came true is the prediction about the French revolution. There are 2 prophecies that best describe the condition during the French revolution. From the enslaved populace, songs, chants and demands, while Princes and Lords are held captive in prisons. These will in the future by headless idiots be received as divine prayers. (Century 1, Quatrain 14) This prophecy can be interpreted literally because it described exactly what the situation during that time is. The songs, chants and refrains in this quatrain are said to be refer the prayers or pleads by people under the new governance. Every single person during the time of the French revolution is not exempted to the cruelness because even princes and kings were imprisoned (as described by the 2nd line) and also beheaded (as suggested by the 4th line). This quatrain served as a warning to the people of France (Roberts, 1994). Another prophecy that describes the Common Advent (as Nostradamus calls the French revolution) is the following (Roberts, 1994). When the litters are overturned by the whirlwind and faces are covered by cloaks, the new republic will be troubled by its people. At this time the reds and the whites will rule wrongly. (Century 1, Quatrain 3) Just like the first quatrain describing the French revolution, this prophecy can also be interpreted literally. As described in the prophecy, the upper classes were always accepted but this situation was changed by the revolutionists. Nostradamus refers to the France as a republic which is troubled by the new leaders. White was the color of Bourbon kings and red was the color of the revolutionaries. As people know, red is a color of war or rebellion. The last line can be interpreted as the rulers of the republic, the church and upper classes are not suitable for the work which is the aim of the revolutionaries (Roberts, 1994). Napoleon Bonaparte After the prediction about the French revolution, the prediction about the existence of the first anti-Christ which was interpreted to be Napoleon Bonaparte came true. Pau, Nay, Loron will be more of fire than blood, to swim in praise, the great one to flee to the confluence (of rivers). He will refuse entry to the Piuses Pampon and the Durance will keep them confined. (Century 8, Quatrain 1) If the words PAU, NAY, LORON will be used as an anagram, it can form the word NAPAULON ROY which can be interpreted as Napoleon, the King. The praise more of fire than of blood is interpreted as Napoleon being a man of war rather than royal lineage (because he was not really a royal blood). The Piuses that were mentioned in the prophecy is about the two popes named Pius VI and Pius VII that Napoleon imprisoned during his time (The Prophecies of Nostradamus, 1973). Louis Pasteur Next is the eerie prophecy that was said to be pertaining to Louis Pasteur and his amazing discovery. The lost thing is discovered, hidden for many centuries. Pasteur will be celebrated almost as a god-like figure. This is when the moon completes her great cycle, but by other rumours he shall be dishonoured. (Century 1, Quatrain 25) This prophecy is one of the weirdest prophecies Nostradamus made because in here, Nostradamus revealed the name of the person he was pertaining to and the date that this prophecy would happen. The existence of the scientist Louis Pasteur who discovered the germs or microbes that is of great help to each and every living thing in this planet. Pasteur was considered as demi-god by his people and was dishonored because of the jealous people in his area that opposes his work. In accordance to the third line of prophecy, at the end of the Roussat Moon Cycle in the 1880s, Pasteur studied the three most common human plagues called streptococcus, staphylococcus, and pneumococcus (Cheetham, 1989). Dr. Jose Rizals death After the famous Louis Pasteur prophecy, there comes the prediction about the effect of the death of Dr. Jose Rizal to the Philippines. Wrongly will they come to put the just one to death, In public and in the middle extinguished: So great a pestilence will come to arise in this place, That the judges will be forced to flee. (Century 9, Quatrain 11) The just one of the Philippines, Dr. Jose Rizal was said to be proven guilty in fighting against the Spaniards. He was shot at Luneta on December 30, 1896 in front of his fellow Filipinos which served as the start of the revolution in the Philippines. By shooting Rizal, the Spaniards created their own plague and after two years, their supremacy in the Philippines was ended. Governor-General Polavieja, who was the one who signed the warrant for Rizal, left his job and went back to Spain (Pocock, 1995). Kennedy Assassinations In addition to the prophecies that came true exactly the way Nostradamus stated it is the prediction about the Kennedy brothers assassination. The great man will be struck down in the day by a thunderbolt. An evil deed, foretold by the bearer of a petition. According to the prediction another falls at night time. Conflict at Reims, London, and pestilence in Tuscany. (Century 1, Quatrain 26) The first three lines of this prophecy is said to be referring to the assassinations of the two Kennedy brothers. John F. Kennedy was shot down by an insane man named Lee Harvey Oswald on the morning of November 22, 1963 at Dallas, Texas. While his brother, Robert F. Kennedy was killed on the night of June 5, 1968 while rejoicing his success in an election. The Line 4 suggests the effects of these assassinations in France, England and Italy (Cheetham, 1989). Also, these assassinations was predicted by Jeane Dixon, which can be the bearer of the petition Nostradamus was pertaining to (Roberts, 1994). World War II Another prophecy of Nostradamus that came true is the prophecy pertaining to World War II. Beasts ferocious from hunger will swim across rivers: The greater part of the region will be against the Hister, The great one will cause it to be dragged in an iron cage, When the German child will observe nothing. (Century 2, Quatrain 24) The first line applies to the invasion of France made by the German Army headed by the famous Adolf Hitler. There were alliances during the World War II whose aim is to defeat Hitler which eventually succeeded. People believed that the Hister in Nostradamuss prophecy is the Hitler that the nation knows today. The last two lines were interpreted as the things that were involved in the war like bunker and tanks (Roberts, 1994). Ferdinand Marcoss fall Nostradamus also predicted the downfall of the Marcoss government in the year 1986. News of the greater loss reported, The report will astonish the army: Troops united against the revolted: The double phalanx will abandon the great one. (Century 4, Quatrain 13) On the Snap Election that Marcos initiated, the COMELEC declared Marcos as the winner. On February 22, 1986, Enrile and Ramos, who are both working under the government, announced that they no longer work for Marcos. Enrile asked for the citizens to be of aid to any member of the military who will do what they did. The camp in the second line may be interpreted as Marcoss political camp or the military camp. The next day, February 23, people went outside the Camp Aguinaldo and Camp Crame to guard the people that also abandoned Marcos. Nostradamus predicted, as said in the third line, the civilians united with the soldiers that defected. The word phalange is the plural word for phalanx which pertains to a bone on the finger. Enrile and Ramos pointed their fingers to Marcos after their great announcement. Also, the laban sign that was used by Ninoy Aquinos political party can indicate the phalange (Pocock, 1995). Rise of Corazon Aquino The next great event that Nostradamus predicted is the rise of Corazon Aquino as the president of the Republic of the Philippines. For the merry maid the bright splendor Will shine no longer, for long will she be without salt: With merchants, bullies, wolves odious, All confusion universal monster. (Century 10, Quatrain 98) Cory Aquino, being the merry maid in the prophecy, had the shine when he married a star (Ninoy Aquino). But this star doesnt shine anymore when he was murdered and the maid was given the task of a leader of a nation. Aquino, being a housewife, have no salt (no good sense) for trading or bargaining with other countries. The universal monster that was included in this prophecy is the lack of leadership that became the problem of the presidency of Mrs. Aquino (Pocock, 1995). Princess Dianas death Last but not the least; Nostradamus foretold the death of Princess Diana of England in Paris. The penultimate of the surname of the Prophet Will take Diana for his day and rest: He will wander far because of a frantic head, And delivering a great people from subjection. (Century 2, Quatrain 28) In this prophecy, Nostradamus again named the person he was referring to. The owner of Harods department, Dodi al-Fayed, had a father whose name is Mohammed. Mohammed is the name of the prophet of the Muslim people. Dodi al-Fayed was with Diana up to the day the princess died. The other two lines was the effect of the death of the Princess to her people (Cheetham, 1989). Precise and Vague Prophecies Evidently, not all the prophecies of Nostradamus came true exactly the way he narrated it but some came true but not in the way that Nostradamus said. And some of the prophecies were a little vague that it can be interpreted to two different events or people. Here are some examples of that scenario. Expedition of Ferdinand Magellan and Adolf Hitler From the very depths of the West of Europe, A young child will be born of poor people, He who by his tongue will seduce a great troop: His fame will increase towards the realm of the East. (Century 3, Quatrain 35) Portugal is in the western part of the Europe continent and Portugal is where Ferdinand Magellan came from. Ferdinand Magellan was the one who discovered the Philippines in his exploration. He was born in the poor province of Tras-os-Montes on 1480. When Magellan joined a voyage headed by Francisco dAlmeida, he was an ordinary seaman which also implies that Magellan really came from a poor family. Magellan had dreams to explore to the Spice Islands and he was able to captivate the heart of a respected astronomer named Guy de Failero. Coincidently, de Failero and Nostradamus have something in common: they were judicial astrologers and had been accused of the use of occult. Magellan travelled to Spain to pursue his dreams when he was turned down by King Manuel I. In Spain, he was able to convince his father-in-law, Diego Barbosa, with his plans. Barbosa, having influences, made arrangements to get Magellan to talk with the young King Charles I of Spain. And it was the start of Magellan s expedition. Magellans tongue was also able to persuade Filipinos to convert to Christians. As the line 3 suggests, Magellan really did have the power to seduce people with his words. When Magellan died, he became famous because of his explorations in the Philippines (Pocock, 1995). This particular prophecy also suggests the existence of Adolf Hitler. Hitler also came from a country that is a part of Western Europe which is Germany. As charismatic as he was, Hitler was able to convince many people to be his allies in the World War II. And one of these allies is Japan (which can be interpreted as the Eastern Kingdom) (Fedalizo, 1997). This prophecy shows the vagueness that some of Nostradamuss prophecies possess. People will find it hard to interpret his prophecies that shall take place in the future if there is this vagueness. Adolf Hitler as the Second Anti-Christ Liberty will not be recovered, A proud, villainous, wicked black one will occupy it, When the matter of the bridge will be opened, The republic of Venice vexed by the Hister. (Century 5, Quatrain 29) Interpreters believed that Nostradamus uses the anagram Hister to be pertaining to Adolf Hitler. Hister is an area near Danube river where Hitler was born. Since almost all the prophecies were interpreted literally, then this Hister should be pertaining to the area which will make the prophecies senseless. Again, vagueness strikes (Cheetham, 1989). 9-11 bombing of World Trade Center in New York City At forty-five degrees the sky will burn, Fire to approach the great new city: In an instant a great scattered flame will leap up, When one will want to demand proof of the Normans. (Century 6, Quatrain 97) The year 1999, seventh month, From the sky will come a great King of Terror: To bring back to life the great King of the Mongols, Before and after Mars to reign by good luck. (Century 10, Quatrain 72) Interpreters say that these two quatrains describe the phenomenal and tragic event of the World Trade Center bombing. New York is in 40Â ° 5 N latitude which is close to the forty-five degrees which is indicated in the prophecy. The bombing happened on September 11, 2001 which makes Nostradamuss date (July 1999) a little off. There are only a few prophecies which have specified dates and this one is not accurate. Also, in the original prophecy, Nostradamus indicated new city which can also pertain to a town in Paris close to 45 degrees latitude. According to this prophecy, after the Great King of Terror appears, war will begin (the indication of God of War) which didnt exactly happen between United States of America and Afghanistan (Emery, 2001 12 September). Nostradamuss predictions for the Future The prophecies of Nostradamus have a simple and easy to understand objective: to predict the future. It is essential to look for prophecies that indicate major events that may happen in the years to come (Fedalizo, 1997). Existence of a third Anti-Christ The antichrist very soon annihilates the three, twenty-seven years his war will last. The unbelievers are dead, captive, exiled; with blood, human bodies, water and red hail covering the earth. (Century 8, Quatrain 77) Nostradamus indicates the existence of an anti-Christ which will give a terrible problem to the world. For twenty seven years, the possible World War III will occur with this person. Lines 3 and 4 suggest the horrifying things that are bound to happen in this time (Howell, 2004). The King will want to enter the new city, Through its enemies they will come to subdue it: Captive free falsely to speak and act, King to be outside, he will keep far from the enemy. (Century 9, Quatrain 92) This prophecy suggests the terrorism that will happen in accordance with the third anti-Christ. Traitors in exile will be set free and this king will give greater troubles than the two anti-Christs had given (Howell, 2004). 2. Beginning of World War III One year before the Italian conflict, Germans, Gauls, Spaniards for the fort: The republican schoolhouse will fall, There, except for a few, they will be choked dead. (Century 2, Quatrain 39) In accordance with the third anti-Christ, this prophecy also indicates the terrorism in one republican country. There will be a problem between Germans, Gauls and Spaniards in this War. There is no indication of any alliances. (Martinez, 2000) Earthquakes in Los Angeles and Lombardy The sloping park great calamity To be done through Hesperia and Insubria: The fire in the ship, plague and captivity, Mercury in Sagittarius Saturn will fade. (Century 2, Quatrain 65) Hesperia is a city in California, USA along Los Angeles and Insubria is a place along Lombardy in Italy. The sloping park can mean that a great movement of the grounds shall happen in these places. This earthquake shall happen in the place when Mercury is in Sagittarius and Saturn is in vanishing position and astrologers say that this will be on November 25, 2015, Novermber 23, 2016 and December 7,