Saturday, October 5, 2019
Utopian Socialism Research Paper Example | Topics and Well Written Essays - 750 words
Utopian Socialism - Research Paper Example Utopian Socialism Utopian socialism emphasizes that, three things that would happen if all people would adhere to socialist ethics exist. It looks forward for the oppressed to have a better future and improve their life standards; it emphasizes how socialism is very ethical and gives a clear and full meaning to the aims of socialism. Utopia describes collective ownership of property to eliminate greed, promote personal growth, democracy, and cultural enrichment. This paper provides a discussion on utopian socialism. The utopian socialists differ from the other socialists because of the way they carry out their issues. Utopian socialism is more dogmatic and moral. They provoked both ridicule and inspiration in the people. Saint Simon, one of the founders of the utopian socialism viewed suffering as resulting from individualism, which was as a result of breaking of order and hierarchy. He did not see the importance of individuals whose main objective was to pursue personal interests. He did not also bel ieve in free markets, as they were points of oppressing poor people in the society. In the modern times, socialism is seen as a failure. A group of socialists argues that socialism should have extent to which it stops. They argue that such things as major decisions for the whole society cannot be done by anyone. Major societal decisions are seen as important; hence need to be done by people with leadership skills.Utopia is now being used to refer to unrealistic ideas suggested by people. Contrarily, a group of socialists argues that, the capitalists control political issues and leave no other means of getting equality, but only through violent revolutions (Lipow, 1982). However, utopian socialism has its disadvantages. It does not give guidelines on how to achieve its objectives. It only highlights its vision, and no action is taken towards the goals. The opposite of utopia is dystopia. Dystopian vision is to give warning about dangers in the society. It is viewed as a good ideologi cal weapon. In modern times, there is increasing distrust of progress, and this makes utopia unconvincing to most people in the modern society (Guarneri, 1991). Utopian socialism had a number of impacts to communities in the 19th century it was one of the main impacts in the wave of the feminist movement. This resulted from the issue about equality in the society (Taylor, 1982). Feminist movements sprung up fighting for economic equality and power equality between men and women. Many organizations also came up to fight against gender based violence and discrimination. Laws regarding percentages of women in leadership positions started to be formed. Women were now to be represented at least by a third in most of the parliaments and organizations (Lipow, 1982). In the industrial revolution, utopian socialism improved women’s thinking in terms of work and leadership. Women began to go to work and make their own money. By mid-19th century, many women were working in factories and even some were leaders who were overseeing their male workers (Lipow, 1982). At the same time, utopian socialism encouraged the existence of trade unions for workers. Workers had their rights and cold lounge complains if at all there were any. Cooperative stores and societies also came up in large numbers to deal to help individuals set up firms and businesses. This was due to the belief that all people were entitled to equal rights; the
Friday, October 4, 2019
Ice Cream Business Plan Assignment Example | Topics and Well Written Essays - 3000 words
Ice Cream Business Plan - Assignment Example The company will be located in Yreka Junction Shopping Center in northern California. The company will be the only specialty Ice Cream Shoppe and will take advantage of the lack of competition within 30 miles and will serve many communities in the surrounding area. Located in the shopping center includes two large grocery chains, Wal-Mart and Raley’s as well as other smaller products/service stores. Also located in the shopping center are a few fast food restaurants, Carl’s Jr., McDonalds, and Taco Bell which serve prepared frozen desserts products but don’t offer any type of unique or superior ice cream flavors that my company will offer. Shasta Ice Cream’s primary customers will be drawn from surrounding cities and towns which accumulate close to 15,000 people according to 2010 census and projected to have a 6.5% growth rate each year. I will also take advantage of customers shopping in the Yreka shopping center on an impulse basis during their trips to the supermarkets or finishing meals at the local restaurants. However, the company will have no name recognition throughout the community and I will have to create a strong marketing and advertising plan in order to capture the market. To help staff the store I plan on hiring an accountant to keep track of all the financial, inventory, wages, and manufacturing overheard aspects of the business. I will also find a Lawyer who deals with small companies to ensure all requirements and procedures are being met with different court filings, as well as to write up different documentation used for hiring and contracts for partnerships with companies within the community. I will also hire an assistant manager to help manage daily operations at the store as well as four part time employees to work approximately 20-25 hours a week to provide customer service. Tart frozen yogurts have made a major come back, with many frozen yogurt franchises appearing on market. The original product has
Thursday, October 3, 2019
Public Education Essay Example for Free
Public Education Essay Public education has been an important part of our country throughout history. After the Declaration of Independence, fourteen states had their own constitutions by 1791. Seven of those states had specific provisions regarding education. Thomas Jefferson was one of the first American leaders to suggest a public school system. He believed that education should be under the control of the government, available to all people regardless of their status in society, and free from religious biases. Before the 1840s, the education system was only available to the wealthy. However, many reformers wanted all children in the United States to receive the benefits of education. Two reformers, Horace Mann and Henry Barnard created the Common School Journal, which was a newspaper that brought the issue of education out into the public. Because of their efforts, free public education at the elementary level was available for children by the end of the 19th century. Throughout the 1900s, many schools were created due to increased demand for skilled workers. As the 20th century progressed, many states began to enact legislation requiring people to go to school, and enrollment soared. That is how our public education system got to where it is today. There are still many issues regarding our public education system, such as some areas teaching better than others, and some classrooms having better materials than others. Local and Federal governments have always been involved in schools, making sure that they teach to their full potential. There are many congressional bills that have been passed, and many that are fighting to be passed. A very important bill that is out there today is the Student Bill of Rights, or H. R. 1295. The Student Bill of Rights is a congressional bill regarding education. It was introduced on March 31st, 2011. It is sponsored by congressman Chaka Fattah. The Student Bill of Rights basically makes sure that schools are providing their students with a proper education. It especially helps the disadvantaged students. Disadvantaged means the students who are falling behind in academics, as well as the handicapped. It allows the secretary of education to annually determine whether each states public school system provides all its students with the educational resources they need to succeed academically and in life. The main idea of this bill is that it requires all education to enable students to acquire knowledge and skills necessary for responsible citizenship, meet challenging academic achievement standards, and compete and succeed in a global economy. It does this by requiring each educational system to satisfy certain criteria. One of the criteria is that the schools must satisfy certain Opportunity To Learn (OTL) indicators for all its schools, including effective teachers and resources. Opportunity To Learn indicators are strategies introduced several decades ago, and they are defined by a narrow set of instructions. Many educators and policy makers use the Opportunity to Learn concept, ensuring that all students receive an equal education, especially or disadvantaged and minority students. It helps schools, especially poor ones, educate all their students, and it makes the schools that are worse off a priority. Another criteria is that it provides educational services in local educational agencies (LEAs) that receive funds for disadvantaged students. There are local educational agencies that receive funds from the government and some that do not. Generally speaking, the ones that do not receive funds usually have a better educational program, because that educational agency has more money. This criteria makes sure that the educational services given to funded local educational agencies are equivalent to the educational services given to local educational agencies that do not receive funds from the government. This means that the schools that are better off will not get as much help as the schools that actually need help. This will make sure that the education that both these local educational agencies provide is similar. The final criteria is that it requires each educational system to comply with any final state or federal court order in any matter concerning the effectiveness or adequacy of the system. That means that the government will have the final say. So if a school feels that it is providing adequate education and the state feels that it does not, then the school will have to submit to the state and comply. This will make sure that all schools live up to the state and federal standards, ensuring that all students receive similar education. The Student Bill of Rights also allows students or parents who are aggrieved by violations of this Act to bring civil actions for enforcement in federal district courts. That means that if students or parents feel that the educational system under the Student Bill of Rights does not meet those criteria and are violating the bill, then they are allowed to take this to court to ensure that the bill is not violated. The Student Bill of Rights also allows the federal government to withhold portions of an educational systems funding for administrative expenses. The criteria for this to happen is if the school fails to meet a yearly goal. Another criteria is if the school does not remedy a failure to provide educational services that are comparable to the services that other schools offer for disadvantaged students, after two years. This means that if there are violations and those violations are not fixed within two years, then the school will have funds withheld from them. The last criteria is if the school does comply with a court order. There are many pros and cons of this bill, but the pros will definitely outweigh the cons. There are two goals of every school, and that is to produce workers and create citizens. A pro of this bill is that it will make sure that schools are able to do this. It will make sure that schools are able to create a pool of workers with at least minimum competence and attitudes from which businesses can select employees from. This bill will help the disadvantaged learn many skills that are necessary to succeed in the working world. Those basic skills should be achieved by all students, as they are needed in most jobs. This will also increase the number of students meeting competence in basic skills, thereby increasing the pool of workers from which employers can select from. More students will have the opportunity to enter the work force, and the better ones will be selected, providing businesses with better workers. Keep in mind that opportunity doesnt mean that the students will get a job, it just means that they will have a chance to get it. That leads to another pro, which is competition for jobs. The competition for jobs allows businesses to get better workers and keep their wages lower, decreasing costs and increasing profits. However, this means that it may be harder for others to find jobs due to the competition. With more available workers in the workforce, there will be fewer available openings for jobs. So this bill actually helps the employers more than the workers, but it is still beneficial for all students. This bill will help schools create citizens because it will educate and teach many students the skills necessary to become productive citizens in our society. It helps students achieve personal excellence. It will nurture students to become adults who have the skills, attitudes, and knowledge to become productive community members, leaders, parents, and workers. It can help students identify their interests and abilities, help set goals for them, teach them responsibility and decision making, teach them how to work as a group, and make sure that every student reaches his or her full potential. This bill is fairly new. It was referred to the House Committee on Education and the Workforce, and it has yet to pass. There hasnt been much action on this bill. This bill would be very effective if passed because it will help many students, mainly disadvantaged ones, achieve their full potential. Congress, the White House, and the U.S Supreme Court hasnt done much for this bill, nor have non-profit or non-governmental organizations. However, if this bill is passed, the potential outcomes will be great. There will be many students that succeed as citizens and workers. The standard for learning will go up, and students will be more knowledgeable overall. Eventually, our society will become much more smarter in the future, raising the standard of living for all Americans. Our brains should be considered the most important part of our bodies, because if we all train our brains, the possibilities are endless!
Wednesday, October 2, 2019
Diabetes Mellitus and Hypoglycemia
Diabetes Mellitus and Hypoglycemia Disease classification Diabetes Mellitus is a group of metabolic diseases, diabetes mellitus happen when body does not capable to use insulin efficiently or the insulin is not produce more enough in a person blood. According to Kowalczyk N (2013), this syndrome is related with chronic hyperglycemia in combination with glucose intolerance and alterations in the metabolism of carbohydrates, fats and proteins. There is certain test to indicate the presence of this syndrome. Usually patient undergo blood glucose levels test, before the patient take this test, they need to fast 12.00 mid night, the normal blood glucose levels range from 70 to 120 mg/dL, but if the blood glucose levels is greater than 126 mg/dL it is show that patient might have Diabetes Mellitus syndrome. According to Kishore,P (2013), Pancreas released a hormone called Insulin which controls the amount of glucose in the blood. The pancreas is stimulated by glucose in the bloodstream. Insulin allows glucose to move from the blood into the cells. Inside the cells glucose can transformed to energy, which is used instantly or the glucose is stored as fat glycogen until it is required. Insulin production is related with the levels of glucose, when the glucose in blood is high the insulin production increases, once the levels of glucose in the blood come back to normal, insulin production will decreases, normal blood glucose levels for healthy people is about 70 to 120 miligrams per deciliter (mg/dL). Symptoms and complications of diabetes happen when the body does not generate enough insulin to move the glucose into the cells or if the cells stop responding normally to insulin, the consequential high levels of glucose in the blood and the insufficient amount of glucose in the cells together produce the symptoms and complications of diabetes. There were three types of diabetes mellitus, Type 1, Type 2 and Gestational Diabetes Diabetes Mellitus Type 1 Diabetes mellitus type 1 is a genetic disorder and can be classify as an autoimmune disease, this disease also know as juvenile diabetes or insulin dependent diabetes, according to Kowalczyk N (2013) diabetes mellitus type 1 is usually diagnosed in children and young adults, these young individuas produce little to no insulin because of an autoimmune disease of the pancreatic B cells and are insulin dependent from a young age. Type 1 diabetes accounts for 5 to 10 percent of cases of diabetes worldwide which is stated by The Health on the Net (HON) (2014). Diabetes Mellitus Type 2 Diabetes mellitus type 2 is categorized as insulin resistant diabetes with an insufficient secretion of insulin. Type 2 dibetes mellitus is more common than type 1 and the risk of developing this type increases with age, especially after the age of 40 years. It is also more prevalent in women than in men which are stated by Kowalczyk N (2013). According to Wisse B (2014) type 2 diabetes happen when insulin is not been respond correctly by fat, liver and muscle cells, this is called insulin resistance, therefore blood sugar or glucose does not get into these cells to be stored for energy. When sugar cannot go into cells, a high level of sugar builds up in the blood. This is called hyperglycemia Gestational Diabetes This type affects females during pregnancy. Gestational diabetes is caused when insulin receptors do not function properly, and their bodies are unable to produce enough insulin to transport all of the glucose into their cells, resulting in increasingly rising levels of glucose. Undiagnosed or uncontrolled gestational diabetes can elevate the risk of problems during childbirth. The baby may be bigger than he/she should be. Disease process Etiology Generally the cause of type 1 diabetes mellitus is unknown. A number of descriptive theories have been put forward, and the cause may be one or more. One of the causes is autoimmune disease. This is a condition that occurs when the immune system mistakenly attacks and destroys healthy body tissue, an infection causes the body to mistakenly attack the cells in the pancreas that make insulin in which destruction or damaging of the beta cells, beta cells is special cells that produced insulin hormone in the pancreas. According to Wisse B (2014) Insulin is needed to move glucose into cells. Inside the cells, glucose is stored and later used for energy. Without sufficient insulin, glucose builds up in the bloodstream instead of going into the cells. This increase glucose in the blood is called hyperglycemia, therefore body is unable to use the glucose for energy. Genetics is one of the causes, according to American Diabetes Association (2014) if you are a man with type 1 diabetes; the chances of your child developing diabetes are 1 in 17. If you are a woman with type 1 diabetes and your child was born before you were 25, your childs risk is 1 in 25, if your child was born after you turned 25, your childs risk is 1 in 100. Your childs risk is doubled if you developed diabetes before age 11. If both you and your partner have type 1 diabetes, the risk is between 1 in 10 and 1 in 4. Another cause of Type 1 diabetes mellitus is viruses that might promote autoimmunity. According to American Diabetes Association (2014) A significant number of viruses have been associated with type 1 diabetes, including enteroviruses such as Coxsackievirus B , but also rotavirus, mumps virus, and cytomegalovirus . Rubella virus has been suggested to cause type 1 diabetes, but so far only congenital rubella syndrome has convincingly been linked with the disease. The prime viral candidates for causing type 1 diabetes in humans are enteroviruses. Type 2 diabetes mellitus generally causes from the pancreas does not make sufficient insulin or the body is unable to use the insulin that is produced, as we know insulin resistance. According to Khardori. R (2014) Type 2 diabetes mellitus appears to involve complex relations between environmental and genetic factors, environmental factor is including lifestyle for example (excessive caloric intake, inadequate caloric expenditure, obesity), high body mass index (BMI) increases risk for diabetes. In addition, an in utero environment consequential in low birth weight may influence some individuals to develop type 2 diabetes mellitus. Infant weight velocity has a small, indirect effect on adult insulin resistance. In addition about 90% of obese patient develop type 2 dibetes mellitus. According to Winter S (2014). Second diabetes mellitus type 2 causes is by genetic, diabetes mellitus type 2 strongly has a hereditary component. However not everyone who carries a mutation will get diabetes. Gestational Diabetes type affects females during pregnancy. The cause’s gestational diabetes according to Mayo Clinic (2014) during pregnancy, the placenta, which connects your baby to your blood supply, produces high levels of various other hormones. Almost all of them impair the action of insulin in your cells, raising your blood sugar. As your baby grows, the placenta produces more and more insulin-blocking hormones. In gestational diabetes, the placental hormones provoke a rise in blood sugar to a level that can affect the growth and welfare of your baby. Gestational diabetes usually develops during the trimester. Pathogenesis According to Nucleus Medical Media (2014) Pathogenesis for diabetes mellitus type 1 is summaries that beta cells in the pancreas lose their ability to produce insulin, resulting in high blood glucose levels.In type 1 diabetes, your immune system, specifically your white blood cells, mistake your pancreatic beta cells for foreign invaders.In an autoimmune response, your white blood cells secrete auto antibodies that destroy your own beta cells.As a result, your pancreas produces little or no insulin.Without insulin, glucose cannot get into your cells, so they are starved for the calories they should be receiving from glucose.In addition, the glucose level builds up in your bloodstream, resulting in a condition called hyperglycemia. Diabetes mellitus type 2 usualy caused by obesity and physical inactivity, Diabetes mellitus type 2 is categorized as insulin resistant diabetes, it commonly referred to as the metabolic syndrome according to Hannele Yki-JÃ ¤rvinen (2011) Insulin resistance can be defined as the inability of insulin to produce its usual biological actions at circulating concentrations that are effective in normal subjects. In addition pathogenesis diabetes mellitus type 2 happen when beta cells of the pancreas are no longer capable to meet the body’s requirement for insulin. Hyperglycaemia therefore develops earlier in the course of beta cell failure, and in association with a greater beta cell mass, in insulin-resistant compared with insulin-sensitive individuals. The relative importance of reduced secretion of insulin and increased demand insulin resistance ranges along a range from one individual or population to the next. Pathogenesis of gestational diabetes. According to Manda A, when pregnant, human body will produce several hormones. Some pregnancy hormones disrupt the usual function of insulin by interfering cell signalling pathways. In the bloodstream insulin will stimulates fat tissue and skeletal muscle cells to absorb glucose. Because of presence insulin resistance the process uptake of blood glucose is prevented as a result the blood sugar level remains high. In the pregnancy glucose usually present in the blood stream in the placenta through the Glucose transporter 1 (GLU1) carrier to reach the fetus. If not been treated, amount of insulin develop by the fetus will increase, then the baby born larger body than is normal. After baby born the excess of glucose through placenta is done. However, the insulin production still increased it may lead to low blood glucose levels or hypoglycaemia. Manifestation According to Kishore P (2013), The types of diabetes have very related symptoms. The first symptoms are related to the direct effects of high blood glucose levels. When the blood glucose level rises above 160 to 180 mg/dL, glucose spills into the urine. When the level of glucose in the urine rises even higher, the kidneys excrete additional water to dilute the large amount of glucose. Because the kidneys produce excessive urine, people with diabetes urinate large volumes frequently. The excessive urination creates abnormal thirst. Because excessive calories are lost in the urine, people may lose weight. To compensate, people often feel excessively hungry. Other symptoms include blurred vision, drowsiness, nausea, and decreased endurance during exercise. Significant Lab Tests There are severe test can done to demonstrate diabetes mellitus (DM). According to Mayo Clinic (2014), the common test done is Glycated hemoglobin (A1C). Test this blood test indicates your average blood sugar level for the past two to three months. It measures the percentage of blood sugar attached to hemoglobin, the oxygen carrying protein in red blood cells. The higher your blood sugar levels, the more hemoglobin youll have with sugar attached. An A1C level of 6.5 percent or higher on two separate tests indicates that you have diabetes. An A1C between 5.7 and 6.4 percent indicates prediabetes. Below 5.7 is considered normal. However If the A1C test results arent consistent, the test isnt available, or if you have certain conditions that can make the A1C test inaccurate  such as if youre pregnant or have an uncommon form of hemoglobin (known as a hemoglobin variant)  your doctor may use the next tests to diagnose diabetes such as. Random blood sugar test. Fasting blood sugar test. Oral glucose tolerance test
Handling the Brain Essay -- Biology Essays Research Papers
Handling the Brain The initial premise of this web search was to determine what differences, if any, were known to exist in the brain of the ambidextrous individual. An actual classification of "ambidexterity" seems to have been all but eliminated, while the explanation of the term, "handedness", has become increasingly muddled. Beyond superstitions and mysticism, in its earliest history an individuals favoritism of the left or right hand proved significant mainly to those clinicians who utilized this physical clue of handedness as an indicator of brain lateralization (2). Lateralization in general "refers to the concept that a given function is controlled preferentially by one side of the brain or body (5). Brain lateralization further implicates the functional specialization of the two cerebral hemispheres - the left and right - which may be distinct in the localization of neural mechanisms for particular functions (3). The corpus callosum serves as the physical and functional connection between these two cerebral hemispheres. Each hemisphere receives sensory information and controls movement on the side of the body opposite its location. An intact corpus callosum insures communication between the two hemispheres to build a full understanding of actions and perception. In certain extreme cases of severe epileptic seizures a "split-brain operation" is necessary, severing the corpus callosum, which serves to greatly reduce seizure frequency but leaves the cerebral hemispheres to function virtually independently (6). "Handedness" then, has come to be considered - not merely the hand you favor for writing - but rather a possible indication of hemispheric language specialization. It was the French neurosurgeon, Paul... ... Interaction by John Gregory Hibbard http://monroe.lib.in.us/~bpmchi/Hibbard.html 2)handedness http://www.nurseminerva.co.uk/handedne.htm 3)Handedness and Brain Lateralization http://www.indiana.edu/~primate/brain.html 4)Scientific American: Ask the Experts: Biology http://www.sciam.com/missing.cfm 5) Evolution of Lateralization and a Role in Language http://n002bsel.bios.uic.edu/evolution/vertcns/lateralization/index.html 6)Splitting the Human Brain by Paul Pietsch http://www.php.indiana.edu/~pietsch/split-brain.html 7)Ambidexterity: Memory Power and Mindfulness - Ambidexterity Develops http://www.earthlink.net/error/404.html Further Investigation 8)TRY IT! Hemispheric Specialization http://www.cord.edu/faculty/covey/hemisphere.html 9)Left brain / Right Brain http://www.geocities.com/Athens/Acropolis/1892/hemisphr.htm
Tuesday, October 1, 2019
Frank Sinatra Essay -- Biography
Frank Sinatra was widely known from coast to coast. He was definitely one of the most popular stars of his era. (3) He, not only was a singer/ song writer, but as his career grew he shifted smoothly into acting and dancing. Ole Blue Eyes was an American icon who was capable of charming his way through each decade that rolled by. He had a sound that carried like no other. His soft voice could sweep women off their feet and right into his arms. Ole blue eyes had an extraordinary talent and sure did not waste it. It all started when Italian immigrants, Martin and Natalie Sinatra gave birth to a baby boy on December 12, 1915. On that night Francis Albert Sinatra was born not breathing. His grandmother decided to hold him under water. Thankful, he began to gasp for air. Even since the beginning Frank made his way through unfavorable odds. Martin, Sinatra’s father, was a firefighter for the city of Hoboken, New Jersey. Frank’s mother, Natalie or she was often referred to as Dolly, was an amateur singer; who often played at clubs and social events. (1) As Frank grew so did his love for music. His first real passion for music came when his uncle gave him a ukulele. On hot summer nights Sinatra would sit out on his front porch while playing and singing to family and friends. Frank never had to take singing lessons. His wonderful gift came from the Lord. Were they lived was a rough neighborhood so Frank had to be on his guard almost all the time. To protect himself, he decided to take up boxing. Later on he would become a competetent boxer. (1) Frank Attended Demarest High School. He was a generous, but pugnacious person. These characteristics would follow him throughout his entire life. He competed in all... ...e and alcohol abuse. Frank Sinatra’s career spanned for more than fifty years. He ventured from recordings, film television as well as countless performances in night clubs, concert halls, and sports arenas. (3) He was truly the first modern pop star. The audiences who grew up with him and his music were complemented by adoration from younger generations. They have all made Ole Blue Eyes one of the most outstanding popular singers of the 20th century. His smooth style transcends through all generations and can survive the cold hard fact of time. He was able to withstand the great shifts in the time eras. He was a creative and gifted man who charmed the world with his blue eyes and beautiful smile. No matter how you see him; the starry eyed boy next door, the bruised romantic, or the smooth cosmopolitan man he was and always will be Frank Sinatra.
Bretton Woods Essay
Bretton Woods Conference The Background During the World War I and World War II the international monetary system is split into several competing currency blocs, the fierce trade war between the global recession and nation. In the post-World War II, at the end of World War II, the U. S. dollar has enjoyed a unique and powerful position in international trade and also because British and American governments for consideration of national interests, ideas and design of post-war international monetary system, proposed separately by the â€Å"White Plan†and â€Å"the Keynes plan. Huai-held plans†and â€Å"Keynes Plan†with is the establishment of international financial institutions, stabilize the exchange rate, the expansion of international trade, and promoting world economic development for the purpose, but the way they operate. Because the United States boarded the supreme world leader of the capitalist world economic crisis and after World War II, the dollar's international status because of its strength of the international gold reserves to get a solid, the two sides reached in April 1944, reflects the White Plan on the establishment of the GB currency experts of the Fund a joint statement. What is â€Å"Bretton woods conference†? The United Nations Monetary and Financial Conference, commonly known as the Bretton Woods conference, Bretton woods system or Bretton woods agreements. It was a gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton Woods, New Hampshire, to regulate the international monetary and financial order after the conclusion of World War II.The conference was held from 1-22 July 1944, when the agreements were signed to set up the International Bank for Reconstruction and Development (IBRD), the General Agreement on Tariffs and Trade (GATT), and the International Monetary Fund (IMF). It established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century and also was the first example of a fully negotiated onetary order intended to govern monetary relations among independent nation-states. As a result of the conference, the Bretton Woods system of exchange rate management was set up, which remained in place until itself collapsed in 1971, when President Richard Nixon severed the link between the dollar and gold. What they agreed: * Formation of the IMF and the IBRD (World Bank) Adjustably secured foreign exchange market rate system: * Exchange rate were fixed, with the provision of changing them if necessary * Currencies were required to be convertible for trade related and other current account transactions * All member countries were required to subscribe to the IMF’s capital * if exchange rate might not be favorable to a country’s balance of payments position, the governments had the power to revise them by up to 10% Who’s involved? Delegation from around the w orldAustralia|                     India|     Belgium|                     Iran|     Bolivia|                     Iraq|     Brazil|                     Liberia|     Canada|                     Luxembourg|     Chile|                     Mexico|     China|                     Netherlands|     Colombia|                     New Zealand|     Costa Rica|                     Nicaragua|     Cuba|                     Norway|     Czechoslovakia|                     Panama|     Dominican Republic|                     Paraguay|     Ecuador|                     Peru|     Egypt|                     Philippines|     El Salvador|                     Poland|     Ethiopia|                     Union of South Africa|     France|                     Union of Soviet Socialist Republics (USSR)|     Greece|                     United Kingdom|     Guatemala|                     United States|     Haiti|                     Uruguay|     Honduras|                     Venezuela|     Iceland|                     Yugoslavia| The United States, having the largest delegation, brought a wide spectrum of economists and politicians to the Bretton Woods Conference. China, represented by the Nationalist government of Chiang Kai-shek, played an active role and was granted the fifth largest quota among the original members of the IMF.Cuba, governed by Ramon Raul San Martin, sent a delegation that represented the interests of small agr icultural economies. Delegates from many Latin American nations were deeply involved in the negotiations. The democratic process at Bretton Woods ensured that concerns of all countries were addressed. Though the delegation from the Soviet Union was active at the Conference and signed the draft Articles, the Soviet government later decided not to join the Fund or the Bank. The cooperation of the U. S. and USSR delegations was a positive moment before the onset of the Cold War. In 1944, the Indian delegation to Bretton Woods included both British citizens as well as Indian nationals, as India was still part of the British Empire.Alexander Argyropulos (at right in photo), a member of the Greek delegation, arrived in New York on June 21. Argyropulos had been a prisoner of war for a year. His arrival in the United States culminated in the reunion with his wife and daughter, who had escaped Greece when Axis forces invaded. Camille Gutt one of the Belgian delegation. Once the Fund was esta blished, Gutt was elected as its first Managing Director, a post he held until 1951. Outcomes: The Conference led to the creation of three organizations in order to lead the world economy in the right direction. The International Monetary Fund (IMF), the General Agreement on Tariff and Trade (GATT) and the World Bank.The IMF was intended for keeping track of the monetary policy, to balance the exchange rates, reduce restrictions on the foreign exchange rate, and provide loans to invest in the infrastructure of developing countries and countries that had debts. The number of votes a country for the IMF board depends on its contribution factor towards the reserve. The U. S, U. K, Japan, Germany have 40% of the votes. Out of that percentage, the U. S has 17% of the votes, making them the majority power in the IMF. The GATT encouraged â€Å"laissez-faire system†, to make trade without government intervention, to reduce taxes when two countries are trading with each other and make it fair. It is known now as the World Trade Organization.The World Bank main idea and purpose was to help third world countries and reduce poverty, and to corporations who want to aid the developing countries. The World Bank would offer loans to rebuild roads and utilities. These were the organizations that emerged from the Bretton Woods Agreement. Another outcome for the United States was the Dollar being a â€Å"World Reserve Currency†and that all trade and business will be done in American dollars. Even trade between two different nations that do not use the American dollar as their currency; will do business with each other using the dollar. For example the price of oil from Saudi Arabia will not be in Saudi Rials, but in American dollars. Then those dollars would be redeemable through gold from the U.S at a fixed price of 35$ per ounce. All the countries that signed the Bretton Woods Agreement agreed to fix their currency with the same value as the value of gold. The s upply of money a country had went hand in hand with its gold reserves. The countries that were not rich in gold, would have to borrow money in order to finance their investments and development. The system performed trade through stable and adjustable exchange rates. However there was an increase in demand for dollars which lead to an increase in trade deficits, and the value of the dollar remained high. The United states couldn’t fix the exchange rate between itself and other urrencies. It became known as the â€Å"n’th currency problem†. All the countries currencies were at par with the US dollar. The United States worth of gold was $26 billion by 1964. The world’s worth of gold was $33 billion. Many countries held the U. S dollar as their main reserve asset. Because of that, the French President, De Gaulle said the U. S had a privilege of unlimited financing, because of the majority of countries having dollar assets. The U. S was unable to eliminate it s deficits. The ways in which the balance payment deficits could be corrected include deflating the economy by using a monetary policy, which means raising interest rates.Another policy to use is the Fiscal Policy that includes reducing government spending in order to reduce demand. The U. S could have also devalued its currency, which meant foreign currency prices are higher. This would reduce exports from foreign currencies, and more exports from the U. S. The Bretton Woods system was successful until 1971, August 15th. A few measures were taken to avoid the system going to fail. They included imposing an â€Å"interest equalization tax†to reduce the outflow of investments and private capital. However this lead to more loans from foreign borrowers. A lot of the funds went to financial institutions in places lke Europe and Japan. The United States President Nixon said the amount of gold that was sent out of the U.S for the 27 years since the agreement was unsustainable. He announced a 90-day freeze on wages and prices, a 10% import surcharge on imports and suspended converting dollars into gold. The value of gold had increased, yet the price of $35 per ounce remained. Even though many countries still owed money to the U. S and were in debt. References: http://weber. ucsd. edu/~jlbroz/Courses/Lund/handouts/Lecture12%20_Bretton_%20Woods. pdf http://id. wikipedia. org/wiki/Sistem_Bretton_Woods http://www2. econ. iastate. edu/classes/econ355/choi/bre. htm http://en. wikipedia. org/wiki/Bretton_Woods_system http://en. wikipedia. org/wiki/International_Monetary_Fund http://en. wikipedia. org/wiki/Gold_standard
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