Business Law Australian Landmark

Question: Describe about the Business Law for Australian Landmark. Answer: Caltex Oil (Australia) Pty Ltd v The Dredge Willemstad (1976) 11 ALR 227 This case was the landmark Australian case as a result of which an exception to the general rule which grants recuperation for pure economic loss was not allowed. The exception took place in certain situations where the defendant could rationally anticipate that a particular person, as different individual from a general class of individuals, would have to suffer and compensate for the monetary harm which took place as a result of their behavior. Further, the key Facts, issues, laws and applicability of the case would be discussed so as to display the significance of the same (Webstroke Law, 2016). Facts of the Case A Processing contract was initiated between Australian Oil Refining Pty Ltd (AOR) and Caltex Oil (Australia) Pty Ltd (Caltex). According to this agreement AOR refined crude oil was transported to its factory on the southern shore of Botany Bay of Catlex, and then it transports the advanced goods back to Caltexs oil workstation on the northern shore of Botany bay by the help of a tube that ran under Bay. AOR owned the tube. Under the provisions of the contract Caltex preserved the ownership of the oil in its numerous forms, and AOR was accountable for the danger of harm or damage to the oil as it passed through its tube. The Dredge Willemstad was being utilized to scour a water channel in the Bay when it wrecked the tube on 26 October 1971. The workers of the dredge were aware of the tube issue. The loss was caused because: The track plotter chart which was offered by Decca Survey Australia Ltd erroneously depicted the area for dredging and The workers of the Dredge botched to recognize the fault in the track plotter chart and also to verify their position by conservative means. In order to recover the damages,AOR filed a petition against both the workers of the dredge and Decca which comprises of the reimbursement for the harm caused to the tube and the goods which were incorporated in it. The Supreme Court of New South Wales decided that both the workers of the dredge and Decca were lawfully responsible for the loss which was caused and so, they would have to grant compensation of $125,000 to AOR. Caltex also at the other hand filed a petition against the workers of dredge and Decca in carelessness to recuperate reimbursement for the expenses it acquire in having to arrange it as a substitute means of conveying petroleum goods until the tube was renovated. The Supreme Court rejected this assertion on the basis that Caltex did not own the land which was damaged by dredge and that the damage which was experienced by Caltex was a pure economic loss. Caltex appealed this decision to the High Court. Legal Issues Was Caltexs pure economic loss was recoverable in an action which was brought for the act of negligence or not? The loss was pure economic loss and not substantial economic loss which would have been recoverable because it was not a loss that streamed out from the physical injury which was caused to Caltexs land or individual. The tribunals had formerly been disinclined to permit the recuperation of pure economic loss for policy reasons, including the outlook of undefined legal responsibility. Rule and Relevant Law According to the tort law of Australia, Pure Economic Loss has been defined as the pecuniary harm which was experienced as the consequence of the act of negligence on the part of another person which was not escorted by any physical damage to an individual or land (Stephen Wawn Associated, 2016). As per the old approach a pure economic loss was differentiated from a momentous economic loss; but as per the present law of the state it was stated that the remarkable case of Hedley Byrne Co Ltd v Heller Partners Ltd in the year 1964, have modified the law in order to permit the revitalization of pure economic loss resulting from any negligent words (Law Teacher, 2016). Though, an obligation of concern in this context could not arise simply from reasonable foresee ability there were other exceptional stipulations. Similarly, Negligence has been defined to be taken place in the circumstances where one individual owes to another person an obligation of concern, carelessness was occurring or failing to do something that a sensible individual would or would not carry out as it causes to another individual harm or failure as an end result (Legal Services Commission of South Australia, 2016) (Marshall Gibson Lawyers, 2012). Application As per the general rule the adjudicator stated that economic loss which was not substantial upon the impairment which was caused to the plaintiffs workers or land was disregarded; because of the fact that, the failure which was anticipated was not sufficient to make purely economic loss recoverable (Gillies, 2004). Although, it was organized by the judges to generate an exemption to the general rule but in doing so, he preferred an approach to the issue which would not form the angle of isolation in informal or policy conditions of harm as it was done in the case of Hedley Berne by way of restricting the obligation of concern. This specific complexity in designing a restricted obligation of care has not taken place in the case of Hedley Byrne which was a kind of case where this method was previously utilized, because in all those matters the plaintiff has been the only predictable injured party. The constituents which were required in order to make a decision of the matters in which it does occur was a practicable general meaning of "limited class". At present the tribunal did not observe any manner of attaining this. The term would possibly have to be distinctively defined from case to case. From this point of view the obligation of care approach was slight more striking than the isolation approach which requires case-by-case meaning of "predictable and significant" (Dietrich, 2000). It was recognized by the judges in this matter that Decca and the workers were fascinated in the dredge which had the indispensable way of skill having regard to the specific elements of the association among the parties in this specific case (Chircop, et al, 2012). The approach of obligation of concern was adopted by the court, but unlike some of the adjudicators, it does not make an exemption to the S.C.M. v Whittall rule for the recuperation of purely economic loss. Rather it generates an innovative rule to substitute it. The Court preceded to the list the issues which in his view show a quantity of closeness among the defendant's act and Caltex's loss which was adequate to give rise to accountability in the defendant to reimburse Caltex for its economic harm (Cane, 1977). The immediacy for which the adjudicator gazes was not principally informal. But presume if Caltcx had for some time been unable to organize substitute transportation and had accordingly evaded on agreements for the supply of petrol then the ensuing harm which was caused to Caltex would seem, to be so roundabout as to be disregarded. In the current case, Caltex's harm did occur, in the opinion of the judges from the physical effect of the harm of the petroleum goods. The defendant owed a obligation of care to Caltex because the land of Caltex-crude oil at the processing plant and goods thereof-was in such physical proximity to the place where the defendant's tasks had their physical effect. It also was the place where the dredge went for its working which would have the physical effect such as "restriction which was occurred through the tube of the crude oil and the goods. Restriction on the land of Caltex was anticipated as a result of such work (Latimer, 2012). The Court then requested to response to the opposition which were imposed to the recuperation of purely economic loss that the reimbursement may be away from the capability of the defendant to disburse. As the court states that, this was no cause why the loss would be left with the injured party (Kalderimis, 1999). On the other hand, a ruling which could not be performed by which there was nothing to transfer for the onus from the victim. Also the comments of the judges only points up the fact that the welfare of the plaintiff and the defendant divergence, but it grants no guidance as to how that clashes would be determined (Supreme Court of Tasmania, 1999). Conclusion At the end it could be concluded that it could carefully be said to have been determined in Caltex was that the mere fact states that the only harm endured by the plaintiff was purely economic loss which was not accurately or instantly substantial upon physical harm to the individual or land of the plaintiff. As it would not prevent recuperation of that harm. It might also be harmless to state that the S.C.M. u. Whittall test of causal proximity to physical harm was not law in Australia, although it must be memorized that the judge reaffirmed that rule and went no further than creating an exception to deal with the current case. Four strands of reasoning supporting the decision in favour of Caltex are found in the judgments. A Judge founded his verdict on a procedure of looking at the situations of the harm in order to scrutinize that whether, whatever its character was. He stated that it was an result of a physical cause on the land of the plaintiff. An obligation of concern approach was adopted by two other judges. It restricts the range of recuperation for purely economic loss by entailing, in effect that the plaintiff be a constituent of a exclusively anticipate and restricted class. A remoteness of damage test was adopted by other adjudicator (Kidner, 2012). At last, a circuitous evaluation of public policy opinion without the conciliation of any suggestion about privileges and obligations was adopted by the judge (Manderson, 2006). According to Justice Mason, though, there was no supplementary constraint of proximity which was required but still he stated that: A defendant would then be lawfully responsible for economic harm which was caused due to his neglectful act when he could reasonably anticipate that a particular person was different from a general class of individuals, and then he would bear monetary harm as a result of his acts. These approaches eradicate or reduce the view that they would come into survival in regard to the obligation which was originated to an undetermined class of individuals; it guarantee that obligation was restrained to those people whose monetary harm falls within the area of foresee ability. Although all of the Judges of the High Court namely (Gibbs, Stephen, Mason, Jacobs and Murphy JJ) gave different reasons but the case was commonly decided on 9 December 1976 in connection to Caltexs appeal that the case was decided in the favor of Caltex as the economic loss which was beared by Caltex was recoverable. References Cane, P.F. (1977). Recovery In The High Court Of Purely Economic Loss Caused By Negligent Acts. Western Australian Law Review. Chircop, A., Letalik, N., McDorman, T.L., and Rolston, S. (2012). The Regulation of International Shipping: International and Comparative Perspectives: Essays in Honor of Edgar Gold. Canada: Martinus Nijhoff Publishers. Dietrich, J. (2000). Liability In Negligence For Pure Economic Loss: The Latest Chapter (Perre Vapand Pty Ltd). James Cook University Law Review, 7. Gillies, P. (2004). Business Law (12th ed.).Sydney:Federation Press. Kalderimis, D. (1999). "Contractual Economic Loss in New Zealand - "Who, Then, is my Neighbour" Really?" . Victoria University of Wellington Law Review 16. 29(2). 193. Kidner, R. (2012). Casebook on Torts (12th ed.). United Kingdom: OUP Oxford. Latimer, P. (2012). Australian Business Law 2012. Australia: CCH Australia Limited. Law Teacher. (2016). Pure Economic Loss. Retrieved on 30th November, 2016 from: https://www.lawteacher.net/free-law-essays/tort-law/pure-economic-loss.php Legal Services Commission of South Australia. (2016). Negligence. Retrieved on 30th November, 2016 from: https://www.lawhandbook.sa.gov.au/ch01s05.php Manderson, D. (2006). Proximity, Levinas, and the Soul of Law . Canada: McGill-Queen's Press MQUP. Marshall Gibson Lawyers. (2012). A Short History of Negligence Lawsuits. Retrieved on 30th November, 2016 from: https://www.marshallgibson.com.au/2012/05/15/a-short-history-of-negligence-lawsuits/ Stephen Wawn Associated. (2016). Characterize the Harm Pure economic loss. Retrieved on 30th November, 2016 from: https://www.stephenwawn.com.au/commercial-law-litigation-disputes/pure-economic-loss-caused-by-negligent-misstatement-and-the-duty-of-care/duty-of-care/ Supreme Court of Tasmania. (1999). Negligence Foreseeability: Doctrine of Law or Public Policy. Retrieved on 30th November, 2016 from: https://www.supremecourt.tas.gov.au/publications/speeches/underwood/negligence Webstroke Law. (2016). Caltex Oil Pty v The Dredge WillemStad [1976, Australia].Retrieved on 30th November, 2016 from: https://webstroke.co.uk/law/cases/caltex-oil-pty-v-the-dredge-willemstad-1976-australia

Water conservation free essay sample

Water conservation refers to reducing the usage of water and recycling of waste water for different purposes such as cleaning, manufacturing, and agricultural irrigation. Water conservation programs are typically initiated at the local level, by either municipal water utilities or regional governments. Common strategies include public outreach campaigns, tiered water rates (charging progressively higher prices as water use increases), or restrictions on outdoor water use such as lawn watering and car washing. Cities in dry climates often require or encourage the installation of xeriscaping or natural landscaping in new homes to reduce outdoor water usage. The Cost effective minimum water network is a holistic framework/guide for water conservation that helps in determining the minimum amount of freshwater and wastewater target for an industrial or urban system based on the water management hierarchy i. e. it considers all conceivable methods to save water. The technique ensure that the designer desired payback period is satisfied using Systematic Hierarchical Approach for Resilient Process Screening (SHARPS) technique. The value and cost-effectiveness of a water efficiency measure must be evaluated in relation to its effects on the use and cost of other natural resources (e. . energy or chemicals). Water efficiency- Water efficiency can be defined as the accomplishment of a function, task, process, or result with the minimal amount of water feasible, or an indicator of the relationships between the amount of water needed for a specific purpose and the amount of water used, occupied or delivered. Social Solutions- Water conservation programs are typically initiated at the local level, by either municipal water utilities or regional governments. Common strategies include public outreach campaigns, tiered water rates (charging progressively higher prices s water use increases), or restrictions on outdoor water use such as lawn watering and car washing. Cities in dry climates often require or encourage the installation of xeriscaping or natural landscaping in new homes to reduce outdoor water usage. One fundamental conservation goal is universal metering. The prevalence of residential water metering varies significantly worldwide. Recent studies have about 60% of urban homes (as of 2009). Although individual water meters have often been considered impractical in homes with private wells or in multifamily buildings, the Environmental Protection Agency estimates that metering alone can reduce onsumption by 20 to 40 percent. In addition to raising consumer awareness of their water use, metering is also an important way to identify and localize water leaks. Some researchers have suggested that water conservation efforts should be primarily directed at farmers, in light of the fact that crop irrigation accounts for 70% of the worlds fresh water use. The agricultural sector of most countries is important both economically and politically, and water subsidies are common. Conservation advocates have urged removal of all subsidies to force farmers to grow more water- fficient crops and adopt less wasteful irrigation techniques Goals- The goals of water conservation efforts include as follows: Sustainability. To ensure availability for future generations, the withdrawal of fresh water from an ecosystem should not exceed its natural replacement rate. Energy conservation. Water pumping, delivery, and wastewater treatment facilities consume a significant amount of energy. In some regions of the world (for example, California over 15% of total electricity consumption is devoted to water Habitat conservation. Minimizing human water use helps to management. reserve fresh water habitats for local wildlife and migrating waterfowl, as well as reducing the need to build new dams and other water diversion infrastructure. WHY CONSERVE? Water conservation is the most cost-effective and environmentally sound way to reduce our demand for water. This stretches our supplies farther, and protects natural Lakes. For example, the city of Visakhapatnam has grown by 1 million people since the 1990s, but still uses the same amount of water. Using less water also puts less pressure on our sewage treatment facilities, and uses less energy for water supply to the grid. Why should you conserve water? There are many good reasons to conserve water. Water conservation can help meet future needs. Saving water will save you money. Water conservation helps preserve the environment. Ђ Saving water will save energy. Although water conservation helps, some people have misconceptions about what water conservation can and cant do. If we all work together to conserve water, we can help assure a bright and prosperous life for future generations. Become an advocate of conservation in your community. Help promote conservation as a wise and important water management principle. Conserving water saves you money! Not only will your water bill go dow n, but as you use less water, your gas or energy bill will also decline. If your whole community conserves, you will also pay less fees for water-related services. Water conserving communities will not need to pay as much to develop new supplies and expand or upgrade water and wastewater infrastructure. Wise usage of water helps us in saving money. We have to pay for the water we use. If we use less water, we will have more money left to spend on other things. Preserve the Environment- Water is the life-blood of the environment. From lush mountain meadows to harsh desert valleys, water holds everything together, making the land inhabitable by people and wildlife. As the population grows, the strains placed upon the environment and its critical ecosystems will increase. Conserving water will help preserve the environment by minimizing necessary diversions and decreasing pollution. When we use water wisely, we help protect the environment. We save water for animals and plants. We also help in preserving drinking water supplies. This ultimately results into easing the burden on wastewater treatment plants. The less water we waste, the less work these plants have to do to make water clean again. SAVING ENERGY- Using water wisely, results into saving energy in multiple ways. We save the energy that is required in treating and supplying water to our place and also the energy we consume in heating the water. Conservation of water can be broadly divided into 3 important sectors. 1 . Household water conservation. 2. Agricultural water conservation. 3. Industrial water conservation. [pic] The above diagram shows the approximate water usage for domestic and Industrial uses. 1. HOUSEHOLD: Water-saving technology for the home includes: Low-flow shower heads (sometimes called energy-efficient shower heads as they also use less energy, due to less water being heated). Ђ Low-flush toilets and composting toilets. These have a dramatic impact in the developed world, as conventional Western toilets use large volumes of water. Dual flush toilets include two buttons or handles to flush different levels of water. Dual flush toilets use up to 67% less water than conventional toilets. Saline water (sea water) or rain water can be used for flushing toilets. Faucet aerat ors, which break water low into fine droplets to maintain wetting effectiveness while using less water. An additional benefit is that they reduce splashing while washing hands and dishes. Wastewater reuse or recycling systems, allowing: Reuse of graywater for flushing toilets or watering gardens, and Recycling of wastewater through purification at a water treatment plant. Rainwater harvesting High-efficiency clothes washers Weather-based irrigation controllers Garden hose nozzles that shut off water when it is not being used, instead of eliminates water waste at the faucet. It automates the use of faucets without the sing of hands. Water can also be conserved by landscaping with native plants and by changing behavior, such as shortening showers and not running the faucet while brushing teeth. Faucets: o Repairing a dripping faucet can save up to 100 liters per day. o If your existing faucet flows above 10 liters per minute, install a low-flow faucet or aerator. For a bathroom faucet, a 6-liter-per-minute flow will provide sufficient water for personal hygiene needs. For a kitchen faucet, you may want a 10-liters-per-minute flow to make sure the flow of water is sufficient to wash and rinse dishes. Water losses caused by dripping faucets can range from several liters to hundreds of liters of water per day. Toilets: o Detect toilet leaks by adding leak detector tablets or a few drops of food coloring to the toilet tank. If the tank is leaking, color will appear in the bowl within 10-15 minutes. Flush immediately after testing. o Fix the toilet leak and you can save as much as 400 liters of water per day. o Toilet water use can be cut by 30 percent with a toilet tank dam or displacement bag. o Place a dye tablet inside the toilet tank; if the tank is leaking, color will appear in the bowl within 10 to 15 inutes. Flush immediately after testing. o Since the mid-1990s, all new toilets have been redesigned to conserve water, using 8 literss of water per flush. Older models use 20 liters or more per flush. Appliances: o When you replace clothes washers, consider a water-efficient model that uses an average of 100 liters of water per load. Front loaders use 80-100 liters. Showers and Tubs: o Check your showerhead. If it is leaking or the flow rate is more than ten liters per minute, you should replace it with a low-flow version (61iters per minute maximum). This can save up to 37 liters per day. Shower water use can be cut by 50 percent with a low-flow showerhead. Leaks: o Fixing leaks and installing a few inexpensive water-saving devices in your home could save you an estimated 100,000 liters of water each year. o Leaks inside your toilet can waste up to 400 liters of water a day. o Repairing a dripping faucet can save up to 100 liters per day.. o Dripping showerheads can waste 75 to several hundred gallons of water a week, depending on the size of the drip. Miscellaneous Savings Statements: o Save up to 4,000 liters per month: Turn off the water while brushing your eeth and shaving. Save up to 10000 liters per month: Rinse fruit and veggies in a bowl of water instead of under running water. o Save up t05000 liters per month: Replace older toilets with new low-flow models. o Save up to 4,000 liters per month: Run your washing machine and dishwasher only when full. Rainwater Harvesting 2. AGRICULTURAL: Drip Irrigation For crop irrigation, optimal water efficiency means minim izing losses due to evaporation, runoff or subsurface drainage. An evaporation pan can be used to determine how much water is required to irrigate the land. Flood irrigation, the ldest and most common type, is often very uneven in distribution, as parts of a field may receive excess water in order to deliver sufficient quantities to other parts. Overhead irrigation, using center-pivot or lateral-moving sprinklers, gives a much more equal and controlled distribution pattern. Drip irrigation is the most expensive and least-used type, but offers the best results in delivering water to plant roots with minimal losses. As changing irrigation systems can be a costly undertaking, conservation efforts often concentrate on maximizing the efficiency of the existing system. This may include chiseling compacted soils, creating furrow dikes to prevent runoff, and using soil moisture and rainfall sensors to optimize irrigation schedules. Infiltration basins, also called recharge pits, capture rainwater and recharge ground water supplies. Use of these management practices reduces soil erosion caused by storm water runoff and improves water quality in nearby surface waters. 3. INDUSTRIAL: Industry is the single largest consumer of water. While there is increasing focus on ways to conserve water at home, most people do not give much thought to conserving water at work. However, there are as many ways for industry to conserve water as there are at home. Combined effort by both industry workers and homeowners can make a huge reduction in the amount of water that is wasted, as well as the energy used to clean and purify it. Recycling and Reuse Industries have many opportunities to reuse water within their own plants to minimize their draw on municipal drinking water sources. Water used for one purpose can often be saved and reused for another, especially after filtering. For example, a plant can run gray water from sinks and cleaning through a filter for use s cooling water for machinery. As long as the reused water is clean enough or has been cleaned enough for use in its new role, recycling water this way saves a significant amount of drinking water from being used for Jobs that do not require potable (drinkable) water. Many car washes already do this on a smaller scale. [pic] A typical recycling plant Switching from water-cooled systems to air-cooled systems would have a tremendous effect on total water consumption, as using water to cool hot equipment is one of the largest drains on municipal water systems. Water that has been cleaned and filtered t great expense to a community is not being drunk when its used as a coolant. Instead, it is going into the atmosphere as steam water vapor. Air-cooled technology is an efficient and practical alternative in fact, air-cooled radiators in cars replaced water-cooled radiators about 50 years ago. While there are condensation systems that help to reclaim some of that lost water, no system is completely effective. For example, when a company switched cooling systems from water to air, they saw more than a 90 percent reduction in their per-minute use of water. Rinsing Systems Another source of huge potential water savings is the rinsing systems used by industries to remove contaminants from equipment and products. Changes in how the rinses are done, such as not overflowing tanks to float contaminants over the sides, combined with using intermittent-flow systems instead of continuous-flow systems, would result in a significantly reduced water usage for these procedures. Additional Conservation Tips Many of the same conservation tips for the home apply equally for industry. Irrigating lawns and fields in the morning and only watering when necessary, along ith using ultra low-flow toilets, installing sink aerators and repairing leaks promptly can cut the amount of water used by industry significantly. Using brushes and a mop and pail for cleaning instead of a hose and reducing the frequency of building and vehicle washing can save hundreds of gallons per day. CONCLUSION- Water is a natural resource which is limited and available on finite quantity on earth in different form. Hence we should use the existing supplies wisely. It is constantly being cleaned and recycled through the earths water cycle. The need to conserve ater is important because people use up our planets fresh water faster than it can naturally be replenished. We should be careful and economic in the use of water for domestic and industrial purposes so that no water is wasted. Much water can be stored by saving bathroom water in tanks to be used for flushing toilets, washing cars, watering lawns, etc. Wastage of water in irrigation can be minimized by checking leakage in irrigation channels, brick-lining the irrigation channels, and by avoiding over watering. Use of subsurface and sprinkler techniques for watering the fields can also save water. revents its loss in floods, and release water throughout the year. We are all water creatures, 60% of our body is made up of water, 70% of our brain is water and 80% of our blood is water. While we can go without food for almost one month, we cannot survive without water for more than 7 days. Water is not made anymore; the quantity of water that is available on earth is the same that was available millions of years ago. Most of our planet is covered with water, but only 3% of it is fresh water and most of it is in the form of ice. So, only 1% of water is potable and usable for all living creatures on earth. Water crisis is looming all over the world. The steep rise in population is putting a huge pressure on water availability. In the last century, the world population tripled and the usage of water increased by 6 times. By the middle of this century, it is estimated that there will be an additional 3 Billion people. And the requirement of water will be much more than our planet can provide. For example, the population in Visakhapatnam has increased by 1 million in the last decade, whereas the availability of water for the city remained the same. We have seen acute shortage of water this summer in the city, because of failure of monsoon ast year. So the importance of water conservation and proper usage of water is the need of the hour. World wide, it is estimated that millions of people live with less than 15 liters of water per day, whereas, in the United States and other developed countries, an average of 600 liters of water is used per day per person. 5 million people were displaced world wide due to contaminated river systems, which is more than those displaced by way of wars. As per United Nations report, 1 in 5 people lack access to purified water. And one child dies of contaminated water every 1 5 seconds. The water crisis is real and immediate steps are required to stem the problem. It is said that we are running out of water before we run out of oil. Water short age will lead to food shortage. Countries like Chins are already seeing a steep drop in food production for want of water. India is also not far behind in this regard. Water Problem is fast becoming Hunger problem. Industry is facing a thirst for water. Agriculture is facing a thirst for water. All living creatures on this planet are facing a thirst for water. So the following steps should be taken immediately: Promoting Water Conservation- ethod we collect the rainwater either from the roof or from the ground. This collected water is stored in tanks for use later. This is the easiest way to conserve the water. Recycling: Recycling water is another way by which water can be conserved. Used water from factories and homes is sent for cleaning. It is then pumped into the sea or returned to a river. This water is again taken out and used. Water Conservation in Commercial Agricultural Applications- There are many water saving devices which can be used for conserving water in commercial offices and public places. They are Infrared or foot operated faucets, hich uses short bursts of water for rinsing in a kitchen or bathroom and thus can save water. Waterless urinals or having infrared operated cleaning system in urinals which saves water. Ђ Pressurized water brooms for cleaning sidewalks.

Writing a Sample Turabian Essay

Writing a Sample Turabian EssayA sample Turabian essay is an exercise that makes writing a Turabian essay easier. The paper is similar to others found in other colleges. It features a lot of factual, wordy facts about each of the three components of the essay. A well written sample essay on the other hand can make you look good and make Turabian more appealing to potential employers.A sample essay should be a reflection of the work being done by the writer. It is the student's job to check off each fact on the paper. Being able to do this makes a student stand out in terms of professionalism and helps one stand apart from other students.Most essays used by Turabian have eight points. Some are made up of one to two paragraphs, while others take less time. Each part of the essay is made up of a paragraph with one to three facts, depending on how long it is. It is important for students to write a solid essay without wasting any facts, because this can hurt their chances of being hired as interns.When composing a sample essay, the student should work at a pace that will allow him or her to find his or her own voice. The essay should reflect one's own personality and style. By writing the way one wants to the student can craft a unique essay that only he or she could have written.The most common type of sample essay being used by the Turabian College is a paragraph based essay. This requires the student to start each paragraph with a single sentence and end with a single sentence. This format allows the writer to build a story line within the paragraph. It is important to begin each paragraph in a story-line-forward manner, which will help one move into the next paragraph.Following paragraphs should follow each other in a linear manner, although it is acceptable to throw in a few anecdotes here and there to complete the flow of the essay. It is also okay to place a short sentence here and there if necessary to continue a story. Writing an essay in this format is ea sier than those written out of sequence.Essays are made easy with the usage of grammar software, which can help the student with correct grammar in a matter of minutes. This is a huge factor for any student when preparing to write a sample essay for Turabian. The right grammar can make a student look professional and also help one gain acceptance from a prospective employer.A great essay should include one to three facts, depending on how long it is. It should be a well-written essay that can be enjoyed by the reader. It should include the unique facts that are put into the essay to show the value of the student's life. As with any work at Turabian, the essay should be prepared and directed by the student. Any mistakes should be reported to the instructor so that they can rectify them before they turn it in.

Economy for Labor and Interest

Introduction Definition of the term â€Å"capital† denotes money. Money plays a key role in the growth and expansion of an economy. However, economic expansion is not directly related to money, it is related to the value of money over time. When the Time Value of Money is diminished, capitalist systems encounter minimal growth.Advertising We will write a custom essay sample on Economy for Labor and Interest specifically for you for only $16.05 $11/page Learn More In extreme cases, a country may experience recession. Interest is the reward for capital. With a diminished capital base, this reward is nonexistent. Hence, there is an intricate relationship between economic performance, deployment of capital, and its performance. The researcher will dissect these relationships. The paper will also address the related subject of globalization. Time Value of Money and Keynesian Economics Keynesian scientists view world economic recessions as part of devel oped economies unlike what classical scientists believe. Keynesian scientists argue that many investors are constantly looking for new ways to make money, which may not be waterproof. Hence, there is a possibility for something to go wrong. In 2008, there was a global recession, which originated in the United States. The recession was triggered by the lending and interest market in the United States. Keynesian scientists argue that it is wrong to blame the players in that field for that problem. Instead, the government should bear the blame. The point is that the government should have put in place proper policies to guide the manner of doing business. In 2008, Keynes argues, there was little policy put in place to monitor, discipline, and guides the financial institutions that were the central players in that field effectively. Hence, as noted earlier, they engaged in all manner of possibilities to make profits. It might have worked in the past, but they exceeded the limit, which t riggered the economic recession. Keynes, therefore, does not rule out such instances in the economy at times. When the government does not do enough to regulate its branches to ensure proper conduct, the likelihood increases. Hence, Keynes largely blamed the government for the failure in United States banks. However, the manner in which the government responded to the crisis is Keynesian. The argument is that since the risk that the institutions take benefits the government, it should come to their rescue when they are stuck in such recessions. It is in tandem with Keynes recommendations to bail out the agents as the government did in the wake of the crisis.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The response of the government the current crop of new Keynesian scientists supports the economic stimulus package. However, they argue that the amount that the government set aside is too little to revive the economy. The amount is supposed to have a multiplier effect on the spending of consumers. However, consumers, the scientists argue are spending on long-term investments as opposed to the ‘quick spending’. Therefore, the scientists argue that the governments may not be able to revive economic growth on this front. The scientists are however in unison when it comes to the long-term expectations. They say that what the economy is experiencing is a host of short-term fluctuations. In the end, market forces will weigh down these fluctuations. These forces will drive the economy into equilibrium. They include price changes, consumer awareness, and government policies – macro for that matter. Relationship between Interest, Globalization, and Capitalism Because of the fact that our society is evolving in technology, modern day capitalism and globalization are considered as â€Å"organized crime†; we are all victims of it. Nevertheless, are we really? These pertinent questions will be answered as we delve more into how these two phenomena influence the world. A definite fact is that, if we are all its victims then there are those of us who are victims in a negative way and others victims in a positive way. Capitalism is a form of an economic system in which private entities own the means of production and of which the owner enjoys the benefits or profits alone. The owner of the means of production gives undue concern to the workers who offer their labor at minimal wages for the production of wealth to the owner. The laborers have no choice but to accept the meager wages offered by the capitalist or the owner since they do not have their own means of production. In the past, capitalists were rich land owners who accumulated wealth by having the landless peasants work on their huge lands in return to the lard lords offering the peasants spaces to settle and cultivate their own food. The capitalist form of economic system i s very unfair, as a few people own a large chunk of wealth at the expense of the majority poor. The few rich people are referred to as the bourgeoisie while the majority poor are the proletarians. According to Karl Marx, the proletarian society is set to awaken and rise up against the bourgeoisie thus toppling this economic system to a more fair economic system where wealth will be equally distributed. In fact, it is getting even worse with capitalism going to a large-scale nature where the powerful countries are putting pressure on weaker countries hence maintaining this condition by way of unbalanced market systems and stringent economic policies.Advertising We will write a custom essay sample on Economy for Labor and Interest specifically for you for only $16.05 $11/page Learn More It has been evidently clear in the last century that the western economies which include the USA, Europe and Japan have continually suppressed the so called third world ec onomies by way of taking natural resources and mineral wealth from these countries either forcefully or through some poor economic policies. In the last one hundred or so years, the western countries completely dominated the third world countries through colonialism. They forcefully took over the lands and other resources of these countries in order to acquire raw materials and cheap labor for their industries. Most of these countries had to result to armed struggle in order to gain their freedom from this form of oppression. Amin, in the article ‘exiting the Crisis of Capitalism or Capitalism in Crisis’, discusses the concept of capitalism in detail. In the Journal globalization, defines capitalism as â€Å"accumulation by Dispossession†. He continues to say that capitalism involves endless accumulation of wealth by those who already have. In the quest to establish a liberal market economy in the world, the oligopolies and modern day plutocracies have put into p lace policies whereby the third world countries’ governments have no control of their market systems hence exposing themselves to the cheap and in most cases substandard commodities from these oligopolies. These commodities flood their markets hence suppressing domestic production leading to abject poverty in these countries. The concept is referred to as neo-liberalism or neocolonialism. Hence, the cyclic poverty pattern is likely to continue (Amin, 2010). Capitalism is intricately connected to globalization. The rapid advancement of technology has propagated capitalism, which has made the world to be a form of a global village. The world’s economic system is continually being unified hence bringing close the different nations of the world. There have been numerous reductions of trade barriers thus establishing a form of a unified market. Tariffs, import restrictions, and export expense have been significantly reduced hence unifying the world market. In some regions, there has been the adoption of a single currency leading to further unification. In Europe for instance, many countries have adopted the Euro as a common currency and have opened up boundaries. Coupled with ingenious technological advancements, the movement of people and goods has been made really easy, fast, and efficient.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These advancements, though, have been to the advantage of the European countries, the US and Japan who have taken advantage of these advancements to accumulate wealth at the expense of the majority third world countries. The establishment of the free market economies has led to what is popularly known as global capitalism. Oligopolies have taken the advantage of the free market economy to flood cheap and substandard goods and commodities to the developing economies thus suppressing the third world countries’ development. Neil Thomas in his article â€Å"global capitalism, the anti – globalization movement and the third world† asserts that the third world countries are falling deeper into international debts. The establishment of international financial institutions (IFS), Multinational corporations, and stringent international economic policies has largely contributed to the above scenario. The more developed countries (MDCs), through these unbalanced economic p olicies have continued to take undue advantage of the less developed countries (LDCs) in the third world. The IFS, which include the World Bank and The International Monetary fund (IMF), are controlled by the MDCs, mostly the US. Due to the military and economic superiority of the MDCs, they have continued to put unfavorable conditions in the advancement of funds for development to the LDCs. They have denied the developing countries the subsidies, which were available to them at the onset of their development. The capitalist or free market economy propagated by these western countries is unfair to the world in general. There have been structural adjustment programs in advancing loans to the LDCs hence putting them in poor competitive position in this free market economy. The IFS also impose high interest rates to these loans hence putting a heavy burden to the third world countries (Brue, 2000). Due to the lack of modern production methods in the LDCs, the MDCs have also taken this to their advantage. They give tied foreign aids in the name of helping LDCs develop. Nevertheless, in essence, it is just a way of ensuring that the LDCs remaining in their poverty state so that they can continue accumulating wealth by plundering the third world’s natural resources. In Haiti for instance, the IFS put pressure on the government to cut Import quotas. The Haiti government reduced import quotas to as low as three per cent from fifty per cent which resulted in low quality and cheap products from the MDCs. Haiti being an agricultural country saw its economy plummet as agricultural commodities were imported into the country in large quantities. The rice farmers were adversely affected as cheap rice was imported into the country. Capitalism has continued to prove that it is structurally imbalanced. It does not make sense for the MDCs to be determining prices for products in the world market. If this market was fair and liberal as it is supposed be, then it would be f air and prudent only if the producing countries would be given an opportunity or a voice in determining the prices of their commodities (Albritton, Bell Westra, 2004). When MDCs determine their prices, fair development is assured hence meeting the real tenets of capitalism. A country would only develop based on the hard work of its citizens to maximize production. Instead, the western countries, due to their industrial advancements have ensured that this does not happen so that they can continue getting cheap raw materials and labor from the third world countries. The liberalism put forward by the western countries is only a fallacy to blind the developing world that forms the majority of the world’s population. Economic Growth and Interest The government uses two policies to control money supply in a country. That is, expansionary and contractionary policy with the effect of increasing and reducing money supply respectively. The effect of expansionary policy on the AA-DD mo del is a shift to the right, which increases the exchange rate of a country’s money with respect to another country. However, this does not happen fast. It takes on a transitional mode with many factors at play. For example, the real money supply exceeds the real money demand, which, in the short run, means that inflation levels increase quickly. However, the trend lags as more people convert their money assets into non-money assets to beat or take advantage of the inflation levels. In the long term, the natural effect is that the exchange rate will increase with the amount of cash in the economy (Suranovic, 2012). Governments employ the contractionary monetary policy when the money supply in an economy reduces. The reduction has the effect of shifting the AA-DD model downwards. When this happens, there is an immediate reduction in Gross National Product of a country. It also leads to a relatively stronger local currency. Fiscal policy refers to government spending. The gover nment is the biggest consumer and its consumption has many policy effects on the economy. The government uses this power to effect policies in a country through either reduction in spending (contractionary fiscal policy) or increase in spending (expansionary fiscal policy). An increase in government spending causes AA-DD model to shift to the right, which causes a decrease in the exchange rate. For example, the Canadian dollar would do better than the American dollar in this situation. However, this leads to an increase in the GNP for the country. An increase in GNP is productive because it may attract more foreign investment as it is favorable to a nation. There are many causes for an expansionary policy. This includes transfer payments, tax reductions, and government direct spending (Suranovic, 2012). The three factors lead to different effects on the AA-DD model. The increase in government direct spending and tax reductions leads to increase in disposable incomes in a country, wh ich causes increase in GNP. Additionally, an increase in government direct spending leads to an increase in GNP, which also increases real money demand. The effect is that interest rates increase. The reverse is true for contractionary fiscal policies, which occur because of limited government spending (Suranovic, 2012). Labor and Interest Multinational corporations have also contributed largely to the poverty in third world countries. They have grown to some even being more than some countries economies, which is further evidence of how global capitalism is unfair. These multinational corporations due to globalization have extended their tentacles to the third world countries where there is availability of low cost raw materials and very cheap labor (Brue, 2000). For instance in Mexico car industry export assembly, the workers are paid a meager wage of around US$ 1.26 an hour, 40 cents and 27 cents in Nicaragua and china respectively which, according to the capitalist, is still con sidered high as they seek to maximize profits. It has been on record that these workers cannot even afford the basic human necessities with most of them living even in cotton houses under deplorable conditions. These corporations make huge profits at the expense of this laborers and the third world nation’s wealth and still have the audacity to repatriate each single cent to their mother countries. The sad fact is that they even put pressure on the governments of the third world countries to use the little that they have to offer security and other subsidies with the guise that they are international investors keen on promoting development. They liaise with the leaders of these governments to suppress the efforts of the locals which is the reason why local industries never flourish in these third world countries as they receive minimal government support or none at all (Albritton, Bell Westra, 2004). References Albritton, R., Bell, S., Westra, R. (2004). New socialisms: Fut ures beyond Globalization. London: Routledge. Amin, S. (2010). Exiting the crisis of capitalism or capitalism in crisis. Globalizations, 7(1), 261-273. Brue, S. (2000). The evolution of economic thought. London: Dryden Press. Suranovic, S. (2012). International finance. Retrieved from https://scholar.flatworldknowledge.com/books/26/preview This essay on Economy for Labor and Interest was written and submitted by user Porter G. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

How to Make Frozen Bubbles on Dry Ice

How to Make Frozen Bubbles on Dry Ice Dry ice is the solid form of carbon dioxide. You can use dry ice to freeze bubbles solid so that you can pick them up and examine them closely. You can use this project to demonstrate several scientific principles, such as density, interference, semipermeability, and diffusion. Materials Needed Bubble Solution (from the store or make your own)Dry IceGloves (for handling the dry ice)Glass Box or Cardboard Box Procedure Using gloves to protect your hands, place a chunk of dry ice in the bottom of glass bowl or cardboard box. Glass is nice because its clear.Allow about 5 minutes for carbon dioxide gas to accumulate in the container.Blow bubbles down into the container. The bubbles will fall until they reach the layer of carbon dioxide. They will hover at the interface between air and carbon dioxide. The bubbles will start to sink as the bubbles cool and the carbon dioxide replaces some of the air within them. Bubbles that come into contact with the dry ice chunk or fall into the cold layer at the bottom of the container will freeze! You can pick them up for closer examination (no gloves needed). The bubbles will thaw and eventually pop as they warm.As the bubbles age, their color bands will change and they will become more transparent. The bubble liquid is light, but it is still affected by gravity and is pulled to the bottom of a bubble. Eventually, the film at the top of a bubble becomes so thin th at it will open and the bubble will pop. Explanation Carbon dioxide (CO2) is heavier than most of the other gasses present in air (normal air is mostly nitrogen, N2, and oxygen, O2), so most of the carbon dioxide will settle to the bottom of the aquarium. Bubbles filled with air will float on top of the heavier carbon dioxide. Use a tutorial for calculating molecular mass, in case you want to prove this for yourself. Notes Adult supervision is recommended for this project. Dry ice is cold enough to give frostbite, so you need to wear protective gloves when handling it. Also, be aware that extra carbon dioxide is added to the air as dry ice vaporizes. Carbon dioxide is naturally present in air, but under some circumstances, the extra amount can present a health hazard.

The corporate social responsibility practices Case Study

The corporate social responsibility practices - Case Study Example Rasgas firm is the second leading firm in the production and supply of gas to both the local and international markets. The firm has been operation for the last 14years and it has grown its links with various stakeholders which involve the communities it serves. With this strong links, the necessity of Corporate Social Responsibility is inevitable. This report seeks to explore various aspects of Corporate Social Responsibility with a bias on the necessity of information to companies and its benefits to human resource development. As a point of departure, like any world leading organization, the aspect of Corporate Social Responsibility is inevitable. The organization has endeavored to position its CRS policy on four foremost cornerstones, which include education, community, environment, information and health. The four aspects are aligned with the Qatar National Vision 2030. The Corporate Social Responsibility has over some time now played a critical role in strengthening the company’s ties with the rest of the community. The organization believes that through a clear policy on CSR well integrated with the National Development Strategy, it will positively engage the community through activities which involves practical assistance, donation of equipment, employee volunteer and financial contributions (Porter, 2000). These activities work towards increasing awareness of the organization’s produced and these efforts are reflected in the overall revenues and profit margins. In the case of education which is attributed to acquiring information the organization has endeavored to support numerous talented students to the UK Universities for both undergraduate and Masters programmes. These programs and activities are aimed at attaining maximum level of sustainability. In the case of the CSR information to companies and its benefits relative to human development, the Rasgas firm has a big role to play in a bid to update other

Research paper Essay Example | Topics and Well Written Essays - 750 words - 2

Research paper - Essay Example By definition, money is referred to as anything of value that can be used as a medium of exchange (Weatherford, 2009). This is to say that money is that what is used to pay for goods and/or services. This can also take the form of repaying debts at an individual, corporate, or government level. The history of money is highly built on the need to establish a streamlined exchange medium, thus the observed shift from barter trade to the development of contemporary currencies. The history of money makes vital reference to barter trade and barter economies. In many historical barter economies, goods and services were exchanged for other goods and services (Walthall, 2006). However, this form of trade had operational challenges due to the fact that transacting parties had to match their needs or wants in order to trade. Such economies lacked a central exchange medium, but there transactions at the time would fundamentally shape the history of money. At the height of barter trade, the emerg ence of money started being realized. The introduction of shells, stones, beads, and fur as money was observed (Walthall, 2006). The acknowledgement of these things as money revolutionized exchange transactions within and across communities. Business and commerce emerged for people would accumulate the now acknowledged type of money. This followed difficulties in barter trade to have for example a farmer exchange his/her produce with a blacksmith. The introduction of forms of money now allowed traders and people in general to obtain goods and services without necessary having to engage in barter trade. Development of money along its rich history eventually saw the introduction of coin money. Precious metals became the central focus as far as development of money was concerned. Gold, silver, and bronze among other metals were shaped into coins that were easy to carry and transact with. From around 1000 B.C onwards, the use of coin money increased and many societies quickly welcomed t his new development (Del Mar, 2004). In the 11th century, paper money came into the picture and was produced for use in China (Del Mar, 2004). This marked the extensive spread of money within and across all continents. Eventually, bank notes and coins were adopted all over the world, thus becoming the central exchange medium for domestic and international exchanges. In the United States, the use of paper bills dubbed â€Å"greenbacks† was actualized in the year 1861 (Weatherford, 2009). The emergence and development of money was aligned with the fall of civilization around the world. Asia, Europe, and America were the leading factors of civilization. When it came to the development and use of money, they as well led the course. Civilization subject to the money factor had its positive and negative effects. Money essentially made different civilizations realize that wealth could be stored in form of money. Wealth accumulation took its toll, with many civilizations seeking to d ominate this course. Before long, money would be a differential factor in many societies and countries at large. Notably, money contributed and still contributes in enhancing civilization of societies. Although money has critically divided rich and poor civilizations, it has made exchange transactions easy, efficient, and effective. Over and above this, the shift from barter economies to contemporary currency-driven economies has resulted in enormous currency issues. Different economies want to maintain independent