buy custom Under the Cope of Heaven by Patricia U. Bonomi essay

purchase custom Under the Cope of Heaven by Patricia U. Bonomi exposition In her scholarly work, Patricia U. Bonomi outlines the subject of religion during the pioneer years. The creator gives a nitty gritty account about strict life, strife, and lenience in the United States of those occasions. Additionally, Bonomi researches the connection among religion and governmental issues, explicitly their tight connections. The investigation lights up the urgent job of religion in the American Revolution. The creator investigates the strict life in the Middle and Southern states delineating its imperativeness among churchgoers and pastorate. In addition, this refreshed release of the book contains another prelude on the investigation of African American individuals, Indians, the Great Awakening, and ladies opening the new point of view on the issue. Under the Cope of Heaven is an illuminating story indicating the effect the religion has made on the American culture during the pilgrim time frame. In this way, Bonomi's book exhibits that religion has been a politica l, just as monetary instrument that formed American life and qualities around then. Under the Cope of Heaven starts with an outline of settlements, explicitly their religion. Bonomi contends that strict lenience was conceded to states so as to advance migration. Besides, the creator expresses that this demonstration has been done hesitantly. The most fascinating piece of the investigation is mind blowing associations the creator makes among religion and the Revolution. The essayist shows that the last has been a key spark constraining pilgrims to scrutinize the position's capacity. The abstract work respects the strict argumentation as well as the arrangement of strict occasions in the extents of transformation in late long stretches of pioneer America. Simultaneously, the creator scatters the two fantasies: the strict decrease in that century and an irreligion of the Middle Colonies. Indeed, there was no considerable decrease in strictness yet there were sufficient assemblies per capita in the Middle Colonies. Bonomi finishes up the book with a useful area depictin g the Great Awakening and the commitment it has made to the American Revolution. In her book, Bonomi alludes to various messages that demonstrate the extraordinarily individualized origination of the Christian confidence. Subsequently, the creator furnishes the crowd with a decent outline of the rising belief system demonstrating her own comprehension of the colonials circumstance. In this regard, Bonomi finds the strict profitability of the convention existing in the American states. The creator examined why this convention appeared to be so pertinent to the late pilgrim emergency. The whole book delineates convincingly that religion has assumed a crucial job in the Revolution, just as its extension. Besides, the two parts of Bonomi's strict disclosure investigate the Great Awakening hidden the opposition inside the church. This grating has prompted the restrictive disregard of the effect the Awakening has made on the laypeople. The creator keeps up that the recovery changed over models of well known interest in sorted out restriction to power (Bonomi, 2003, p. 161). In this way, Under the Cope of Heaven is an enlightening investigation of the essayist who has caused a profound examination so as to describe the specific time. Under the Cope of Heaven is a ground-breaking and intriguing book. Bonomi exhibits strict, just as the political foundation of American individuals living in the provincial time frame. In her examination, the creator likewise respected Americans' mentality towards the Revolution. Bonomi likewise inspected political and strict concerns existing in the pilgrim America. Simultaneously, Bonomi's book is a significant examination of the advancement of pilgrim religion and convention existing at those occasions. In spite of the fact that Bonomi's work is provocative, it is consciously composed contemplating the restricting perspectives. Accordingly, the book has style and effortlessness of the writer, just as an animating new viewpoint on the formative time of the strict culture of America. Purchase custom Under the Cope of Heaven by Patricia U. Bonomi exposition

Report Essay Example | Topics and Well Written Essays - 1000 words - 4

Report - Essay Example The resultant sign is diverted into the controlled enhancer. The job of the force enhancer is to drive the amplifier. The circuit is planned with the end goal that the blender contains an addition that can be differed, contingent upon the attractive quality of the necessary volumes. Likewise, there ought to be the recompense for the volume of one channel to be controlled independently from another. This upgrades the nature of sound as this empowers one to have balance between the two channels. In such manner, the introduced graph comprises of a lot of two sources of info; the discourse and music. For this situation, the discourse voltage controls the music voltage. The activity of the circuit venture just necessitates that the two signs are consolidated while the current ought to be changed in accordance with be satisfactory to make the speakers work viably. It is expectable that in the situations where discourse signal is deficient with regards to, the music voltage from the distinc tion speaker is about 1V. In the situations where the discourse signal is top, the voltage is relied upon to be at the base level, at around 0.17V. In such manner, blending the discourse and music intensifier makes the remittance to have the music volume by shifting the voltage of the discourse signal. All things considered, the mixer’s yield doesn't have the force limit of driving the speakers. In such manner, it is expectable that when the plentifulness of the mixer’s input is raised by an addition of well more than 10 units, just as using the class B kind of speaker with the goal that satisfactory current can be produced, the circuit would work effectively. The intensifier is associated with the speakers. About Power enhancers Conventionally, most force speakers utilize the yield stage, in the situations where a solitary transistor handles a portion of the waveform signs and this is whether or not the half is negative or positive. This activity is regularly named as the push-pull. Its productivity is verifiable, taking into account that lone insignificant current streams when music signal is inadequate. Besides, this accompanies the suggestion that the reduced force gracefully might be the main most basic segment; henceforth it cost-adequacy to the maker. For the client, the resultant speaker is moderately little in size, effective and modest. The force speaker capacities to convey power, a result of burden current and voltage. Power= IV I ~ Current V ~ Voltage In the fundamental sense, a force speaker imparts a ton of shared traits to the voltage intensifier. The main distinction between the two is that in the force intensifier, the opposition of the heap that is associated with the yield is moderately low, for example, an amplifier comprising of 7 ohms that triggers the progression of high current through the transistor’s gatherer. In thought to the high flows that course through the heaps, it is basic that the yield transistors that are applied in the intensification of intensity ought to have high obstruction. There are two classifications of speakers that could be utilized; A-type and B-type enhancers. The A-type enhancers are those in which the yield current expect the inputs’ full cycle, making the remittance of the transistors to be forward-one-sided through the info cycles, without turning off. Coming up next is a concentrate of the chart for the A-type enhancer. Figure 1: A-type Amplifier On the other hand, the B-type speaker is what is intended to improve the vitality of effectiveness of the A-type intensifier, guaranteeing for the decrease of the measure of warmth misfortune? Additionally, its sign accept a half

How to Write a Good Essay

How to Write a Good EssayWriting a good essay is a time consuming process. Students and teachers spend countless hours on essay writing, which they consider as a form of expression. Writing a good essay entails more than just presenting a single idea in a concise manner. It takes a whole lot of hard work and focus in order to complete a paper.The idea is to have the students at least learn something from each assignment that is given to them. Therefore, it is important for them to know that they need to be prepared if they are to make use of essay writing.To write a good essay, students should be capable of following the basic writing conventions. A teacher will start with a topic and a thesis statement. Then he will ask for students' opinions and suggestions about this topic. After that, students will be required to provide supporting evidences. Students must also check their spelling and grammar because a sloppy composition will not only ruin their grade but also hurt their academi c reputation.Many students think that in order to become successful essay writers, they need to follow the formal rules of writing and take themselves too seriously. This attitude makes them complacent about the fact that they are going to achieve academic success in the long run. Instead, they should be more resourceful and less dependent on the formal rules of essay writing.There are many essays that are written each year, but theses are not all the same. Some students simply copy other essays. This type of essays will not earn the students much. On the other hand, the student who comes up with original, original essays will be highly rewarded.When it comes to the presentation of an essay, students should not only be able to write. They should also be able to read. Students should know how to read the essay and should try their best to come up with something unique. One way to do this is to use examples, analogies, and metaphors.An example is a literary device that is used to expr ess one concept through another concept. Examples include a man eating a pie, a tree falling in the forest, or a river running into a mountain. Analogies and metaphors are related to a particular theme. For example, a metaphor could be an analogy to a disease.Another technique for writing a good essay is to use metaphors. Metaphors are non-literal, figurative descriptions that convey a sense of the idea. This is considered a creative essay because students can use metaphors in the essay to convey different meanings and ideas.

The U.S. Secret Service; Are they worth it

Enviromental Economics Problem - Research Paper Example Social insurance by items have been arranged to streams and different territories that are ineffectual for their removal. Accordingly these squanders have carried with them diverse pulverizing influences the greater part of them influencing the economy of the nation. The waste is because of different monetary exercises occurring in the nation. This along these lines implies that the waste and their belongings are because of market disappointments. Recognizable proof of the issue is a key factor here and it includes taking a gander at all the externalities of the different financial exercises and the monetary exercises that are related with them. Issue investigation is the other factor that we consider here. By the utilization of an interest bend, we can decide the net social advantage and the minimal private profit and decide the reasons for these externalities. Toward the end an answer which is financially proper is offered out to supplant the different strategies. Issue recognizabl e proof There are different ecological issues that are found in Kuwait. Following the declaration by Mohammed Al-Enzi that Sabah Al-Ahmad city was at a danger of contamination because of the introduction of the different fluid mechanical squanders. This is arranged only four kilometers from the city. He additionally expresses that Kuwait is one of the nations that have difficulties with respect to ecological waste removal. Civil strong waste is additionally a difficult that is looked by the nation. The assortment of this waste, their transportation and removal is a significant test for the nation different proposals have been advanced to help in the administration of these destinations such includes the utilization of anaerobic processing of the loss before arranging them to the land. Utilizing LCA, the effect of these waste apparently influenced individuals a great deal adversely. Electronic waste is another significant purpose of conversation here. E waste ought to consistently be isolated with other waste that is decomposable. Anyway in Kuwait, these E squanders are blended in with other waste materials that can be decayed in this way making it even difficult to arrange. Individuals are additionally uninformed about the impacts of electronic waste on the life of an individual and the whole world. The vast majority in this manner don't take vital impacts required so as to isolate the E squanders from other bio degradable squanders. Mindfulness is in this manner required and this is the call for both open and government mediation. Social insurance items squander is additionally basic in Kuwait. There are different illnesses that are found in the region of Kuwait because of the rising number of terrible removal of social insurance items. These outcome in adverse financial effect on the administration and the individuals of Kuwait as this infection are costly to treat and better methods of removal are additionally costly to set and keep up. Poor removal of thes e materials is additionally a significant test that is looked by the individuals of Kuwait. Side-effects from medicinal services is additionally a test to the individuals as they need to think about the most ideal approach to arrange them and cause them to have no risk to causing illnesses. Different medical clinics are likewise exploiting government hesitance and arranging their loss in a perilous way. This outcome in ecological contamination which over the long haul influences the economy. Issue investigation The externalities experienced in Kuwait are because of the peripheral social cost (MSC) being more than the private expenses (MPC). From the look, there is more benefit that the legislature an

How is immigration affecting the united states Research Proposal

How is movement influencing the US - Research Proposal Example Researcher signifies that before the year 1965, the recipe utilized for conceding settlers into the United States was just limited to individuals from Western Europe. Anderson (36) further proceeds to mean that on a chronicled note, naturalization and migration has consistently been restricted to individuals who are white, for example the Caucasians. In any case, this ethnic and racial portion of reached a conclusion during the times of the 1960s. This is a result of the development of the social liberties developments, which incredibly supported for the privileges of the minority, and the racially hindered individuals (Heyman, 11). In view of this social liberties development that happened in the times of the 1960s, the original immigrant’s number significantly expanded, from about 9.6 million individuals in 1970, to around 38 million individuals in the year 2007. Between the long stretches of 2000, to the year 2010, researcher indicates that the quantity of settlers who ente red United States was around 14 million individuals. Of these 14 million individuals, more than 1 million individuals had the option to secure citizenship through naturalization in the year 2008. Moses (324) indicates that movement has some positive and negative consequences for the American people group. One of the significant impacts of movement is the ascent of populace development in the United States. As indicated by a gauge by the Census Bureau, the number of inhabitants in United States will contact 397 million individuals, continuously 2050. This is when migration is considered in this development. Then again, when movement isn't calculated, the department gauges that the populace development of the United States will just contact 328 million individuals. In another examination completed by Pew Research focus, it appraises that the populace development of United States will contact 438 million individuals, from the 296 million individuals that it had in the year 2005. This is a result of an expansion of outsiders in

Increasing Demand For Shariah Products In Islamic Countries - Free Essay Example

Introduction Islamic banking is a mechanism that is suppose to work within the principals of Shariah considering the ethical and moral values while conducting the financial dealings. Islamic banking is the new emerging banking system but its origin goes back to the times of Prophet Muhammad (P.B.U.H) who acted as an agent for Hazrat Khatja (Prophetà ¢Ã¢â€š ¬Ã¢â€ž ¢s Wife) and looked after the business operations. Islamic banking is growly vastly in the global financial market. The reasons that are enhancing its growth are that: There is an increasing demand for Shariah products in the Islamic countries. Investors due to the crisis like the financial crisis 2008-09 want to reduce their risk therefore need for diversification is inevitably rising. (Hassan et al. 2010) The first Islamic bank was established in Egypt more than 30 years ago. Today, the Shariah compliance asset have reached market share of $4 trillion according to Standards and Poorà ¢Ã¢â€š ¬Ã¢â€ž ¢s. The largest Islamic banks are situated in Malaysia, Saudi Arabia and Iran. Islamic banks design and development into new islamically products are attracting new customers along with they are progressing continuously into innovation in order to be compatible in the financial markets. This is because these newly emerging banking system needs to generate a feasible and satisfactory rate of return to its investors. (Bashir et al. 2003). In 2004, the market share of Islamic banks in c ountries of GULF COOPERATIVE COUNCIL (GCC) was reported to be between 5%-24%.In 2008, it was surprised to notice that it increased to 35% in GCC. (Hassan et al. 2010). Islamic banks are not just operating in the Muslim countries but also emerging in the Non-Muslim countries. For example in America à ¢Ã¢â€š ¬Ã…“Lariba-American Finance Houseà ¢Ã¢â€š ¬? is providing services in areas of leasing to purchase, construction finance, small businesses and trading finance. In the U.K, Islamic bank of Britain was established in 2004 with the permission from Financial Services Authority (FSA). Due to such an impact of Islamic banks in the world, many countries like Pakistan and Iran have attempted to introduce Islamic banking System. Therefore there has been no previous attempt to evaluate the progress of Islamic banks in Pakistan. Islamic research also lacks empirical studies in this regard which is one of the motives of this study to be able to evaluate and assess the performance of First Islamic bank (Meezan Bank) in Pakistan and arrive at the truth whether this new system of banking has a bright future or is just a phenomenon in journals!!! Literature Review Definition of Islamic Banking Islamic banks are managed according to the Shariah which prohibit the transactions based on interest as directed by Holy Quran. The distinctive feature of Islamic banking is the existence of the Shariah board that is comprised of Islamic scholars who are charged with the responsibility that the operations of the bank are in the light of the Holy Quran. (Christofi 2007). The term Islamic finance is applied to the provision of goods and services on deferred payments. Therefore we can say that Islamic banking provides services, machinery, and equipment to consumers at convenience of payment. It allows both parties to share profit and keep risk at one side. (Kahf et al. 1998). Islamic banking basic purpose is to promote the practise of the Islamic law, tradition in order that the financial dealings in the business environment are practised accordingly. (Association of Islamic banking institute Malaysia 2011).From this implementation of behaviour, it will help to protect the Muslim communities in the world from the forbidden tasks in Islam. Islamic banks are financial institutions that operate the activities of the bank in the guidance of Shariah and the basic model followed in Islamic banks is the profit and loss sharing. According to Al Ismaà ¢Ã¢â€š ¬Ã¢â€ž ¢il (2010) these banks do not get engaged in the dealings of usury. According to author in the article à ¢Ã¢â€š ¬Ã…“Concept of Islamic Banking à ¢Ã¢â€š ¬Ã…“concludes: Islamic banks collect and invest money in accordance to the Shariah principals. The amount invested can either generate a profit or a loss. These transactions are free from the element of riba (interest). Similarly, some researchers believe that Islamic banks are financial institutions that collect money (deposit) and utilize it in a way that serves both the society and individual needs according to the shariah principals. Evolution of Islamic Banking Islamic banking is not a new concept; it was present at times of the Holy Prophet (P.B.U.H) via the system of Bait al-Mal, which basic motive at that time was to distribute booty of war, zakat and jazyah.The revenues gathered from this mal were distributed among the needy of the society and the mahajirs.Hazarat Umer the second caliph of Islam, established system of pension. A dewan was appointed to register the individuals for the scheme of pension.Hazarat Umer is the first registered individual in the history of Islam for taking care and feeding of needy in Islamic region. (Imam-ud-din 2005). Foundation of Islamic Banking The Islamic banking institutions in the world follow the shariah ruling which is derived from the Holy Quran, the Sunnah (Hadis of Prophet), and Fiqah (the legal advice of Muslim scholars).According to the Shariah board, all the Islamic banks in the world have to abide by the consent that there should be: Avoidance of riba (interest). Goods and services that are haram in Islam cannot be produced and cannot be consumed. Gharar which is the element of uncertainty cannot be undertaken. Zakat must be paid. According to Ahmad (1984) in order for the Islamic banks to exist there should be absence of interest.Riba is the Arabic name for interest and according to the Islamic definition it is the profit that comes from any effort made. In Islam riba is strictly prohibited but trade is allowed due to this unclear concept has raised many conflicts between different schools of thoughts. Hazrat Shah Wali Ullah Dehlvia, a scholar highlightedà ¢Ã¢â€š ¬? Ribaà ¢Ã¢â€š ¬? as loan that comes with a condition. The return on this loan needs to be more than the amount borrowed. In the pre historic days of Islam interest was an evil that surrounded the society. Due to existence of interest, individuals were able to create monopolies and this could be obvious from the notion that rich clever individuals who lend money to needy had a share in the property and if they were unable to pay back the loan, they could lose what they once possessed.(Uloom 2001). Gharar is an Arabic word which is referred to as uncertainty. Thus gharar can be defined as the sale of goods or items whose time period or certainty is not known due to the risky nature just like gambling. (Academy for international modern studies). According to the Hanafi school of thought in Islam, Gharar is referred to as the sale whose outcomes are hidden and not known. (Islamic Banker 2009). Haram activities are not allowed in Islam especially in terms of investment. According to Samad et al (1998) Muslims are not allowed to invest in activities that are related to production or consumption of, pornography, pork, alcohol, tobacco, gambling and harmful drugs. Therefore it becomes very limited for the Islamic banks to invest according to the Quran guidance. Zakat is an Arabic word that refers to à ¢Ã¢â€š ¬Ã…“Growthà ¢Ã¢â€š ¬? and à ¢Ã¢â€š ¬Ã…“Purification.Zakat is the process of redistribution of wealth in islam.It is the Islamic tax (Zakat) that is an important tool in redistribution of wealth in the society. Therefore every Islamic bank is compiled to establish a zakat fund in order to help the poor of the society. (Suleiman 2009). Previous Research: Iqbal (2001) attempts to evaluate the performance of Islamic Banks and Conventional banks using Ratio analysis for the period covering 1990-98.For this study, the author evaluates 12 Islamic and Conventional banks from Saudi Arabia, Kuwait, Bahrain, Egypt, UAE, Jordan,Bangladesh,Malaysia and Turkey. From the research, Iqbal concludes that in terms of profitability ratios, ROA and ROE for Islamic banks tend to be greater than Conventional banks. Islamic banks have 2.3% and 22.6% of ROA and ROE respectively while Conventional banks have 1.35% and 15% respectively. In terms of Cost effectiveness, Islamic banks are identified with 52.4% of cost to income ratio while Conventional banks have 60.3%. With Liquidity ratio, Iqbal makes an astonishing discovery. He identifies that Islamic banks suffer from liquidity problem. The liquidity ratio for Islamic banks compared to conventional banks 31.9% was found to be 18.5%. The conclusion drawn from the study by Iqbal is that Islamic banks made a better use of resources and for the period of 1990-98, Islamic banks have higher growth rate compared to the traditional banks. Abdel and Bashir (2003) undertake a comparative study to evaluate the financial conditions that affect the performance of Islamic banks. For this research, the author utilized the data from1993-98 from eight Middle East countries namely Bahrain, Egypt Jordan, Kuwait, Qatar, Sudan, Turkey and UAE. In order to identify the characteristics that affect the banks performance, a model is established that uses internal and external indicators. The internal indicators are evaluated by looking at the banks financial ratios while the external are measured by considering banks market share, regulatory compliance and public confidence. Regression is used as a method for the study, for which the author uses Capital ratio, leverage ratio, loan, liquidity and foreign ownership. These are used as an alternative to the internal indicators conversel y for the external indicators microeconomic, taxation and financial structuring of the country. From the study, the conclusion drawn is that the ratio and loan portfolio play a significant role in analysing the performance of Islamic banks. The profitability of Islamic banks can be well explained by foreign capital and therefore Islamic banks established in low income countries are motivated by the foreign capital. Due to the reserve requirement for the banks, Islamic banks face a challenge as their investments gets limited. Factors such as GDP and increase inflation have a consequence on the performance of the banks. Hassan and Dridi (2010) conduct a comparative study. They examine the performance of Islamic banks and Conventional banks during the financial crisis by analysing the effects on profitability, credit and asset growth. The authors selected banks from Saudi Arabia, Bahrain, Kuwait, UAE, Qatar, Jordan, Turkey and Malaysia. Conclusion of Hassan and Dridi (2010) su ggest that Islamic banks faced weaknesses in risk management that affected the profitability of the banks compared to the Conventional banks in 2009.Weaker performance of the Islamic banks in few countries could have been due to the insufficient regulatory framework of the countries. During the crisis, the credit and asset growth of Islamic banks were better compared to Conventional banks. Islamic banks profitability before the Global crisis broke was on average same as conventional banks. This paper suggests that better regulations and innovations in products are needed to encourage the growth of Islamic banks. Research Objectives To examine the features of Meezan bank in Pakistan. To examine the Islamic banking model used by Meezan bank in terms of (Mudaraba/Musharika). To evaluate the performance of Meezan bank with Conventional banks in terms of : Profitability Efficiency Liquidity To draw conclusions about the prospects of Meezan bank in Pakistan. Data and Methodology Islamic banking is a new growing financial institution across the globe but unfortunately it lacks empirical studies. Therefore the aim of this research is to fill the gap by evaluating the prospect of Meezan bank in Pakistan. Theoretical studies on Islamic banking has been undertaken by many researchers not just in Muslim countries but also in non-Muslim regions but due to the reason that Islamic banking is not as old as Traditional banking system, its lacks availability of data. Therefore establishing empirical research in this area has become a major challenge to the new researchers. For this research, a case study is selected. There are ten Islamic banks operating in Pakistan which include a full fledge Islamic banks and Islamic windows opened by Conventional banks. The reason to select Meezan bank for the case study is that the data covering 2005-09 was available. Secondly, it holds the prestigious honour to be the first Islamic bank in Pakistan which quickly established braches all over the country since its existence in 2003.In 2007, Meezan bank opened its 100th branch and in 2009 the bank was reported to have 42% share of Islamic banking branch network.Currently, Meezan bank is having 40% of market share in Islamic banking in Pakistan. This pioneer Islamic bank is awarded as the à ¢Ã¢â€š ¬Ã…“Best Islamic Bank in Pakistanà ¢Ã¢â€š ¬? by Red money Group, Malaysia in 2010. For the data on the Conventional Banks in Pakistan five banks are selected for the study which includes Alfalah bank limited, Faisal bank limited, Habib bank limited , United bank limited and Askari Bank Limited. The research covers the period of 2005-09.Data for Islamic banks and Conventional banks will be taken from the financial statements of the banks and from Bank scope database. Ratio analysis is one of the profound techniques that aid to assess the performance of banks. Therefore the method to compare the two different banking systems will depend on: Profitabil ity Measures: the main objective of any firm is to maximize share holders wealth by utilizing the resources efficiently and effectively. Therefore for this research banks profitability will be evaluated by : Return on asset: It refers to the way in which the management of the bank utilizes the resources and assets in order to generate profits. (Alexandru et al. 2006). Return on equity: It measures what actually the shareholders get out of the investment they make. It is therefore regarded as the true measure of return for investment. (Ross et al. 2010). Profit margin: It tells that for every pound invested by the bank, how much they are getting in return. (Ross et al. 2010). Example if bank X has invested  £ 1 and it has a profit margin of 15.5% it indicates that for every  £, its generating more than 15.5cents.The aim of every bank is to have a higher profit margin. Liquidity Measures: It is the ability with which the bank is able to pay off its short term debt obligations. (Investopedia 2010). Current ratio: It measures the short-term liabilities of the bank (Ross et al. 2010). Loan to asset ratio: It measures the total percentage of asset invested in loans of a bank. Efficiency: Banks prefer to have a lower efficiency ratio as it is the percentage of expense to the revenue. (Wikipedia 2010). Asset utilization: It serves as a bench mark for the bank as it guides how effective is the management of the bank utilizing the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s assets ,inventory and account receivable on day to day basis.( Reference for business 2007). Cost to income ratio: This efficiency ratio tells us how costs are changing with changing income and banks prefer to have this ratio to be lower in percentage. (Money terms 2011). Table 1: Return on Asset for conventional banks of Pakistan (In percentage for 2005-09) Years Habib bank Alfalah Bank Unite Bank Faysal Bank Askari Bank Average ROA ROA ROA ROA ROA ROA 2005 1.82 0.51 1.72 2.87 1.38 1.66 2006 2.1 0.48 2.21 2.48 1.34 1.72 2007 1.45 1.06 1.68 1.57 1.49 1.45 2008 1.44 0.79 1.36 0.81 0.20 0.92 2009 1.55 -0.68 1.48 0.67 0.42 0.68 (Source: Derived) Table 2: Return on Asset for Meezan bank in Pakistan (In percentage for 2005-09) Year ROA 2005 1.36 2006 1.30 2007 1.43 2008 0.72 2009 0.82 (Source: Derived) FIGURE 3 Figure 3 depicts the position of both the banks during 2005-09.What we actually observe is that Meezan bank have witnessed a growth from 1.36% in 2005 to1.43% in 2007 which is similar to the traditional banks ROA.Similarly, Conventional banks from 2006 to 2007 show a decline in ROA from 1.72% to 1.45% but it is that fact that ROA on conventional banks is greater than Islamic banks. During 2007-08 Meezan face a drop in their ROA, which means there can be impact of the financial crisis while Conventional bank ROA does not show any progress during 2008-09 and declines further. But from the graph it is obvious that despite Conventional bank operating in the country for many decades, Meezan bank after crisis increased ROA from 0.72% in 2008 to 0.82% in 2009. Descriptive statistic for Conventional and Meezan Bank. Type of Banks Mean Standard deviation Conventional 1.28 0.46 Meezan 1.12 0.33 From the descriptive statistic we can say that the average mean of conventional banks tend to be greater than Islamic that is 1.28 and 1.12 respectively while the standard deviation tends to be more in conventional that is 0.46 compared to Meezan bank. To test the significance of mean at 95% level of significance H0: No difference between the mean of both banks. H1: There is difference between both the banks mean. T-statistic 0.62945312 T-critical 1.894578604 At 95% level of significance we find that there is no difference between the mean of both the banks as t -statistic is less then t- critical therefore we accept ho. Time Scale The time scale for this comparative study is three months starting from 1 June 2011 to 30 August 2011.Key Dates for this study is divided into: March à ¢Ã¢â€š ¬Ã¢â‚¬Å" May 2011 Review of Literature. 1st June to 10th June Literature Review will be drafted. 11th June to 15th June à ¢Ã¢â€š ¬Ã¢â‚¬Å"Finalizing the Literature with Supervisor. 16th June to 26th June- Research strategy is developed in consultation. 27th June to 30th June à ¢Ã¢â€š ¬Ã¢â‚¬Å" Finalizing of the research strategy with Supervisor. 1st July to 10th July- Compiling data for the case study. 11th July to 21st July- Data analysis will take place. 22nd July to 30th July- Changes to data analysis if needed. 1st August-10th August-Conclusion drawn with the supervisor. 11th August to 15th August à ¢Ã¢â€š ¬Ã¢â‚¬Å"Reviewing the research done so far. 16th August-30th August à ¢Ã¢â€š ¬Ã¢â‚¬Å"Writing and compiling the research. 1st September- Final submission. Resources In order for this study to take place, the following resources have been used to the best effort. Financial statesman of Conventional Banks of Pakistan and for Meezan bank annual reports are referred from 2005-09. For additional information regarding the Islamic banks and Islamic financial institutions, IBIS portal is used. Bank scope database Internet especially for accessing to the websites of banks used in this research. Journals

Positive and Negative Effects of Globalization

Positive and Negative Effects of Globalization EXECUTIVE SUMMARY This report deals with the positive and negative effects of globalization. When we’re talking about it, we mean the process of self-integration of countries due to an impact of intergovernmental organizations (IGOs) and non-governmental organizations (INGOs). Generally, it involves economic integration and political interaction as it’s connected to the cultural and social aspects of different nations. Researchers distinguish several dimensions of globalization, chiefly among them they emphasize on political, social, and economic models. The modern political approach pertains to the coordination and cooperation between different governments. National partnerships were primarily created to overcome such global problems as wars, diseases, hunger, and environmental pollution. The social approach deals with human interaction as social media and the Internet allow people to communicate without barriers. For instance, everybody knows about the American dream, Russian ballet, or Chinese professional chess players since information spreads very fast. An economic dimension pertains to commercial corporations. They have headquarters worldwide which allow them to influence particular domestic policy. This report provides an extensive approach to world integration revealing both the pros and cons of its worldwide influence. It explains how our world became a global village where everyone who has access to the Internet can purchase products and services. People can also be employed and work remotely without the hustle of traveling and settling in a foreign state. What is more, this article highlights both negative and positive globalization effects which take place in developed countries as well as those which are just developing. Student exchanges are of great value for both of these groups. It is possible to study online and achieve a degree without having to relocate to a foreign state. Most business people use this available means of interaction to get in touch with directors as well as CEO’s of successful traders to invest their money and discuss possible profits and dividends. This paper also gives an opinion on disadvantages, for instance, employment shifts or wage gaps. Job hunting became a multinational trend. The most affected employees are those from developed countries as employers can hire immigrants who have smaller salaries. Several thousand local companies go bankrupt each year as a result of price fluctuations. States which have access to cheap raw materials and labor sell their products at a low cost via online platforms. This results in bringing down various companies which are pressured to decrease prices and obtain minimum profits. Our fundamental issue is how to utilize the advantages of worldwide integration and minimize its disadvantages. It’s evident that the positive influence outweighs the negative, but it seems to affect dramatically common daily life. For instance, in some developed countries, a couple have several part-time jobs almost around the clock to pay for their mortgage, car loan, and afford basic needs. In such cases, states should raise their minimum wages or ensure employers don’t hire remote workers abroad. Introduction Globalization describes how different world cultures, populations, and economies are interdependent from each other. It is a consequence of cross-border business. Technology, goods, investments, information, and services along with the labor market are the most popular components of such activity. Nations have established worldwide integration over many centuries by enabling economic, political, and social partnerships. In ancient times people moved to distant places to settle, exchange goods with others, and to produce food and unprocessed materials. In the early 19th century, trains, steamships, and telegraphs opened the way to global interaction and integration through economic collaboration among states. Global trade was affected by World War I and II, the post-war protectionism and the Great Depression. Many countries were affected economically, and there was an increased rivalry between various nations. Today the same endeavor has improved due to innovations and intensified transportation. When someone needs to sell goods overseas, it takes a few minutes to get in touch with a buyer. The revival of trade between nations is associated with particular efforts of the United States. They began popularizing their conception of investments as well as preaching some positive impacts of cross-border trade on the global community. They encouraged funding to resurrect states’ domestic economies which softened and agreed to make their natural resources be an object of trading. At the same time, they allow the building of infrastructure to alleviate transportation. This term became popular in the 1990s when ordinary people got access to the global net. Globalization pertains to the transborder business along with cross-boundaries investments. Multinational institutions have organized a global order to operate trade relations through accepted rules. This concept was created to make intercultural cooperation easy and prevent conflicts from being escalated into unmanageable disputes. Among established INGOs and NGOs are IMF, World Bank, WTO, UN, and NATO. Effects of globalization are politically charged. They benefit corporate elites, while a small group of people is enormously harmed. People should understand future benefits apart from costs of globalization effects to solve problems and sustain the discounted payoffs. As a result, we’ve drawn attention to the good things about globalization in both developed countries and developing countries as well as some bad things about globalization in these states. Effects of Globalization on Developed Countries Worldwide integration impacted countries with developed economies. Some positive influences comprise low-cost country sourcing, evolved social interaction as well as increased employment opportunities. What are Some Advantages of Globalization? Researchers have concluded various positive effects of globalization which some developed countries enjoy today. It’s hard to encounter each of them, but lets focus on some essential points. Global Market Among all effects of globalization, this one is beneficial. It means encouraging nations to specialize and produce plenty of goods available in their local market. Different countries produce different products and what is most surprising there is no country which is self-sufficient. Some countries with developed economies don’t have enough raw materials for their factories, while the rest accumulate costs more than it should. Worldwide integration has led the way to cheap raw materials. Now states can purchase them and produce low price products with a good profit. Developed countries advertise for the low-income community to buy their products with compatible prices. They also sell goods to developing countries because they are affordable. They are supposed to promote the economic growth of the country from where they buy their raw materials as they invest their money overseas by building industries to produce cheap goods. The larger the market, the more the returns. This concept has extended businesses in developed countries. They have also expanded by acquiring companies in developing countries, partnering and merging with others to reach out to a big market and produce cheaper goods due to the availability of materials and labor. Availability of cross-border market encourages companies from developed countries to create various goods because they have consumers worldwide. Some of them produce vehicles, other clothes or foods. There are a range of products invented in developed countries and sold elsewhere. Cross-Cultural Management Each country has got its own culture. Culture pertains to the way particular people do things as well as their values and believes. Incorporating all cultures to form a global one is not easy. For instance, gender equality is not recognized in some legal systems, and they do not allow women to lead or engage in business. Before globalization, many countries would not allow females to acquire education, and even if they did, they were supposed to do jobs such as teaching or nursing. Now a lot of states have adopted features of American culture even in the way they carry out business. For instance, one of the United States features is keeping time as well as understanding its value. They don’t like procrastinating with ridiculous activities. Population in developed and underdeveloped countries have a culture of engaging in activities which are profitable either socially, economically or spiritually. Here becomes a new global culture. Globalization is a causality of cultural eros ion in communities from both developed and developing countries. Competition Competition is a healthy way of doing business. Without it, companies would not pioneer some innovations in cross-border trade. It is the main reason why the quality of goods and services improve as well as why the prices drop. Competition affected industries in some developed countries to source cheap raw materials and labor to decrease prices. People from the first-world can afford themselves to buy products from domestic industries and foreign ones. Competition causes increased communication of ideas and innovation as people try to find a competitive advantage for their business. Job Opportunity About 90 percent of the first-world population earns for living through employment. Initially, job opportunities were quite scarce, and everyone who graduated from college applied in a certain government sector, but most of them ended up working as a casual laborer in industries with a low income. Globalization has brought this trend to a halt as more job opportunities are now available locally and internationally. By using technology, one can access employment opportunities, work remotely and even have more than one job. Many students come out as entrepreneurs ready to grow their own business and create job opportunities for others. Globalization has brought in diversification which helps student interact with foreigners. They exchange ideas on available opportunities in various countries, and such discussions broaden their mind on how to find employment or other ways of making a decent living. The major standards of living have improved due to an extended labor market. Reducing the Gap between the Rich and the Poor Globalization has notably declined the gap between rich and poor people. For many centuries there has been a wide gap between these groups, a gap that seemed to widen every year. Globalization enabled poor people to have access to job opportunities. A long time ago people who worked in government sectors and companies got high salaries, but now even overeducated employees earn a little money. As a result, many employers hire qualified workers and pay them less than they deserve. Due to their expenses of maintaining companies’ specific image, the highly paid workers live a stressful life while the low-income people seem to have a stress-free experience. The number of low-income people working as casual laborers has continued to decrease as most young people acquire education. These young, educated people perform multitasking jobs to get enough money to enable themselves and their family to live a decent life. Consequently, a constant difference between the rich and the poor reduce considerably. Most industries employ only skilled workers due to complicated systems of operation. Those without skills seek employment in other states. Instead of staying without an income, most people don’t mind the displacement as long as they are going to earn for a living. Investments The population of developed countries prefers to invest money in profitable businesses rather than deposit it in banks. The reason is, they strive to earn for a living remotely because investments assure they will gain good profits without any efforts. Unfortunately, such an option is available only for those people in developed countries as usual defaults of economies in third-world states make it insecure. People are afraid to invest their earnings because they can not predict whether their national currency will be equivalent to the US dollar next year. Others spend it by establishing firms and industries in foreign countries where they gain profits. Advanced technology Advanced technologies are a result of globalization. A constant need for innovations appeared due to the lack of quick data transfer and public communication. Lots of inventors have tried to serve the needs of modern society by improving technology. Its advancement has paved the way for positive effects of globalization in countries that initially did not want to associate with others. Such states select partners for cooperation depending on religion rather than the economy. Legal Effects Through globalization, people get to know what’s happening in other countries. Media services cover events which occur in other countries. As a result, various turmoils could be solved by international mediators. Those who perform acts against human rights are arrested and sentenced by intergovernmental courts. Equally, those who practice illegal business aiming to get competitors out of trading are prosecuted. Nevertheless, lots of states are not satisfied that a particular IGO interferes domestic policy and dictate them how they should operate within own boundaries. Imposed economic sanctions prosecute governments which refused to adopt international conventions and follow their laws. Negative Effects of Globalization It has had a few adverse effects on developed countries. Some adverse consequences of globalization include terrorism, job insecurity, currency fluctuation, and price instability. Terrorism It is a significant problem in most developed countries. Due to worldwide integration, people travel a lot. Some of them move abroad for studying, business, visiting relatives, work and access hospitals services. However, not all of them are totally honest. Lots of terrorists came to a foreign country with a worker visa having a hidden goal to perform a terrorist attack. It’s a problem that has posed fear among citizens who can’t trust their neighbors. Unfortunately, terrorists recruit young people, residents of the country and make them believe they are doing the right things. That’s why there are fear, mistrust, and tension in society. Job Insecurity Before globalization, skilled people got employment in government sectors and companies where they received high salaries. Job opportunities were waiting for those who completed colleges and earned a degree. People would resign a job and quickly get another. Due to globalization, there are many people seeking employment all over the world. Employers take advantage of cheap labor. One can get a dismissal because of a slight mistake as the employer can find a skilled worker who is ready to be paid less. Price Instability Price instability is a significant effect of globalization on business. Some people establish industries overseas where they get cheap raw materials and labor. They can cut production costs and sell their goods at a low price. Due to competition, some high-quality products differ in prices. No matter how the World Trade Organization has tried to control price fluctuation, their efforts are not successful. These companies reach out to consumers using modern technology. Successful businesses are for those who can find a competitive advantage and especially make high-quality products for a low price. Currency Fluctuation International trade buys and sells products using the US dollar. The price of dollar fluctuates day-to-day in developing countries, this results in imbalanced economy and unnormal prices for goods and services. National currencies are affected the most by IGOs. What are the Positive Effects of Globalization? Positive effects on Developing countries Globalization has had numerous positive effects on some developing countries. It’s the reason for the fast growth and development of these countries as people invest in these states improving their infrastructure, technology, and total production. Below are some positive effects of worldwide integration on developing countries. Poverty Eradication Before globalization, developing countries have had plenty of resources which they didn’t know how to use. Their population was uneducated as well as there were no roads or means of transport. Nowadays people understood the significance of education and standards of living as foreigners settled in these countries. Consequently, locals went to schools established by the settlers and got employment in their companies and industries. Some of them went abroad for further studies. They were able to raise the living standard of their families by using new knowledge. Today, due to globalization, companies established by locals of some developing states are the major competitors of those from developed states. Although the fight against poverty is not over, there is a great improvement. Availability of Employment Most developed countries have lots of educated jobless people. Globalization gives them job opportunities in other countries. Their primary advantage over the residents of the developed countries is the fact that they offer cheap services. They are also open to learning as they consider themselves lucky to have a new life. Education Globalization has enabled further studies. Most developed countries have advanced schools and colleges. They encourage people from overseas to study there. While it is just a business venture like any other, students from developing countries take it as an advantage to get further education and skills to use in their careers. The investors from developed countries settle abroad with their families, what’s more, they want to have good schools for their children. As a result, they donate to local schools, advance the curriculum and hire qualified teachers. Following this way, most developing countries have very advanced high schools and universities. There is no need to move to developed states to seek education because it is readily available in these countries. Enhanced education is a positive impact of globalization in developing countries. The governments of most developing nations provide free training to encourage parents to school their children. Education is compulsory i n most developing countries due to globalization because, without it, investors and traders would have a hard time hiring locals. Technology Globalization has helped to transport technology to developing countries. Some investors and foreigners who have got a bargain with the people from developing countries needed to communicate with them and exchange ideas as well as information. The fastest way to do it was through using of modern technology. It has greatly helped people from developing countries. Most of them can buy and sell goods online at a low price. They work remotely with companies in developed countries. Interaction with people through social media, the Internet and other platforms have opened new horizons on how to improve standards of living. Media coverage has attracted lots of volunteers from developed countries. Consequently, most people can satisfy their basic needs such as food, clothing or medicines. Foreign Investments Globalization brought in the need for people from developed states to invest in some developing countries. Foreign investment is one of the results of globalization that culminates in many developments in these countries. For instance, some investors want raw materials and goods to be transferred faster to the industry and the market respectively. The only way to do this is to help each government in the building of efficient infrastructure. The local people get jobs from these industries and companies established in their country. Investors boost the country’s economy by paying taxes to the government. They help to improve institutions such as schools and hospital through the government agencies which benefits the locals and their family members. Negative Effects of Globalization Although the developing countries have had many benefits from globalization, there are a few negative impacts it has caused in the developing countries. Displacements of Workers Thanks to globalization, there are employment opportunities all over our huge world. However, most people have had to leave their families for many years as they work abroad. As a result, couples have divorced, remarried and left destitute children at the mercy of volunteers and shelters. Some children haven’t been able to meet their old-aged parents’ needs because the money they earn from their job is not enough. Lots of seniors die due to sicknesses and lack of financial and emotional support from their children. Unemployment In almost all developing countries over half of the working population relied on casual jobs in industries until globalization took root. The advancement of technology has reduced such employment and increased global need for skilled professionals. Majority of people in developing countries don’t have skills, while the available jobs are poorly paid due to high demand caused by globalization. Most of the people are left unemployed and unable to meet their basic needs resulting in increased criminal activities such as burglary, pickpocketing, murder and drug abuse. The rate of unemployment and poverty keeps growing as the gap between the rich and the poor widens. Increased Lifestyle diseases Globalization has brought in the consumption of processed foods, planting crops using chemicals to minimize the duration of growth and increase profit. In order to benefit from business, animals such as the cows are fed on chemicals that make them produce a lot of milk or increase in weight for those that are sold for the meat industry. Due to increased ingestion of chemicals from foods, chronic diseases are on the rise. The mortality rate is high. Furthermore, there is a reduction in the lifespan in the developing countries. Abandonment of Culture Every community, society, or nation has its values and beliefs, that is to say – own culture. They are essential because they mold the acceptable behavior of the people in a particular community. The elders or leaders ensure that the people behave in a morally upright way. However, globalization mixed different cultures. Then people reconsidered their authentic rules and customs regarding their culture as primitive. Some nations from developing countries adopt the western culture and abandon there’s own. The community leaders can no longer pursue their own domestic policy punishing citizens for crimes them as they did before because they are regarded as backward and primitive by international society. They adopt the culture which is quite strange and distant from their nature, due to such policy, people conduct themselves regardless of actual laws. As a result, there is an increased crime as acts such as rape, divorce, and domestic violence get on the rise. What is one of the Negative Effects of Globalization on My Community? Terrorism Not a year ends without incidences of terrorism in my community, something that has affected its welfare and unity that existed before globalization. According to recent studies, there were nine thousand terroristic attacks performed worldwide in 2017. This statistic sounds really frighteningly. Unfortunately, my hometown is not an exception. Last year, our big city mall was burning. The police argued that fire was caused by arson. How does Globalization affect me? Globalization has many positive effects on me. Firstly, I have an education and an online writing job. So to say I am a freelancer. I buy lots of my devices or tools online, what is more, I can communicate with people from other countries via popular networks. On the other hand, due to worldwide integration, I have never succeeded in getting a job in an office. All my applications have been turned down because there is high competition. References 1. Beck, U. (2018). What is globalization?. John Wiley Sons. 2. Chinnammai, S. (2005). Effects of globalization on education and culture. New Delhi. 3. Cox, K. R. (Ed.). (1997). Spaces of globalization: reasserting power of the local. Guilford Press. 4. Garrett, G. (2001). Globalization and government spending around the world. Studies in comparative international development, 35(4), 3-29. 5. Giddens, A. (2018). Globalization. In Sociology of Globalization(pp. 19-26). Routledge. 6. Kohn, D. L. (2006). 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