Evidence, argumants and evaluation on whether mergres and acquisitions Essay

Evidence, argumants and evaluation on whether mergres and acquisitions incraese shareholders wealth - Essay Example The following sections of the paper discuss the effects of Mergers and acquisitions on the shareholders’ wealth. Mergers and acquisition have led to the increase of shareholders market presence in certain industries according to Brigham and Houston (2009). This has also led to effective sales and marketing associations by the merging companies. As a result, this leads to increased wealth of the shareholders. Mergers and acquisitions often lead to greater market presence of the companies involved (Fleuriet 2008). Higher market shares that result from mergers and acquisitions often lead to increased purchasing ability and control over suppliers as suggested by Bruner (2004). When an organization buys a product in higher volumes than previously, the purchase cost becomes lower making the company become more price competitive. This has the potential of attracting greater sales and, therefore, higher value to shareholders. Mergers ad acquisitions may lead to improvements in company operations especially in the case of manufacturing companies as suggested by DePamphilis (2011). Therefore by increasing facilities through mergers and acquisitions, the company raises its capacity to manufacture more products or higher quality products. The company as well has its credibility increased which positively increases the shareholders wealth (Maddiganand and Zaima 1985). Mergers and acquisition often lead to symbiotic relationships between the two companies. As a result, the two companies tend to support one another, which in return helps the shareholders realize greater value from their investments. Mergers and acquisitions combine the operations of the two companies leading to higher sales capable of supporting their concurrent higher budgets hence raising the wealth of the shareholders (Cartwright and Schoenberg 2006). In some cases, mergers and acquisitions may not add value to shareholders’ wealth. This happens for example when management of one

Homeland Security-Policy Analysis Essay Example | Topics and Well Written Essays - 1750 words

Homeland Security-Policy Analysis - Essay Example The act pointed out the major reason for the creation of the Homeland Department as the need to prevent radical assault in the U.S. Homeland Security Presidential Directive (HSPD) 12 – Policy for a Common Identification Standard for Federal Employees and Contractors There are several policies related to homeland security. One of these policies is the Homeland Security Presidential Directive 12. This policy is a general recognition standard for federal workforce and contractors. There are broad disparities in the value and security of recognition used to get access to secure amenities where there is the prospective for terrorist attacks. In order to eradicate these disparities, the United States Homeland Security Presidential Directive12 policy is designed to handle the following legal issues: Enhance security Enhance government efficiency Decrease identity fraud Protect individual privacy All these will be achieved through the creation of mandatory, government broad principles for secure and consistent identification given by the federal government to its workers and contractors. This directive policy authorizes a federal principle to implement secure and reliable forms of recognition. The Homeland Security Presidential Directive is based on the following policy legalities: The need to eradicate wide disparities in the quality and security of types of identification used to get access to protected federal and other amenities where there is possibility for terrorist attacks. Therefore, it is the mandate of this policy to improve security, enhance government efficiency, secure individual privacy and decrease identity fraud. This is enabled through establishment of mandatory, government extensive standards for secure and trustworthy identification forms provided for by the federal to its workers and contractors. To execute the above policy task, the secretary of commerce shall propagate in harmony with applicable law, a federal standard for secure and consi stent identification forms not more than six months after the day of the directive in discussion with the state secretary, attorney general, defense secretary and the secretary of Homeland Security. It also involves consultations with the director of office of science and technology and the director of the office of budget and management (OMB) according to Alperen (2011). The secretary of commerce is mandate to review the legal standards regularly and inform the standard as suitable in discussion with the affected agencies. The reason for secure and consistent forms of recognition directive policy which refers to recognition that:; Is provided for based on sound principles for verifying given workers identity Is powerfully resistant to identity deceit terrorist explosion, counterfeiting and interference Can be swiftly valid electronically Is given only by the providers whose trustworthiness has been established by an executive accreditation process The standard for ensuring the abov e characters will involve graduated criteria, from less secure to more secure to guarantee flexibility in choosing the right level of security for every application. The standard shall not concern to recognition associated with state security systems. In a period of not more than four months following the dissemination of the standard, the heads of administrative departments and organizations shall have a program designed to warrant that

Africas FDI Inflow 1980-2003 Analysis

Africas FDI Inflow 1980-2003 Analysis CHAPTER ONE: INTRODUCTION 1.1 INTRODUCTION Foreign Direct Investment (henceforth FDI) is one of the most important integral parts of todays highly talked about global economy. The enormous growth of FDI towards developing countries over the past few decades has ignited a huge interest from researchers in both economics and finance fields. A number of studies have been undertaken with the aim to empirically examine what motivates firms to be involved in cross-border investments and what motivates countries to undertake different policy reforms and other measures in pursuit of attracting FDI. There is a consensus among FDI researchers that FDI can improve the recipient countrys development in various ways even when foreign firms do not provide externalities. The benefits of FDI to recipient countries are not ambiguous. FDI is seen as a solution to a countrys economic woes by providing the most needed foreign capital that boosts the economic activities of a host country. According to Goldberg (2000), FDI leads to transfer of tec hnology and other skills from foreign firms to local firms. It is through FDI that supplementary resources such as capital, management, technology and personnel become available to host countries. These resources may stimulate existing economic activities in a host country, encourage internal competition, and raise the level of national output. The presence of foreign producers is primarily believed to benefit the host countrys citizens by introducing a variety of new products into the domestic market, which are of superior quality and lower prices. Most importantly, FDI is a channel through which recipient countries gain access to international financial markets and earn foreign exchange. FDI creates a number of employment opportunities as foreign entities establish business units in various locations throughout the host country and relatively higher wage rates are offered. Backward linkages and spillovers are secondary benefits of FDI enjoyed by the recipient countries. Spillovers spur strong growth in industries into which FDI flows, especially when the competition between domestic and foreign firms is efficient. Foreign firms also go into joint ventures with domestic firms and a large percentage of profits generated through such collaborations are ploughed back into the domestic market, thereby contributing to the host countrys macroeconomic growth and development without necessarily providing externalities. Externalities provide another form of benefits that FDI recipient countries enjoy. The existence of foreign direct investors spawns the seepage of managerial, personnel, and technological expertise from the foreign to domestic companies. For instance, Old Mutual plc training programme in South Africa may benefit the South African insurance and financial sectors as a whole. It is because of the above-mentioned benefits that developing countries are actively embarking on measures involving macroeconomic as well as socio-political reforms with clear intentions of advancing their investment climate to attract FDI on a large scale and achieving sustained economic growth. Developing countries have formerly depended on loans and official development assistance as a source of foreign capital, principally provided by international agencies such as the World Bank and OECD countries. However, the flow of such funds from these institutions has been declining. For instance, Asiedu (2002) reports that financial assistance to Sub-Saharan Africa (SSA) fell from 6% in 1990 to just 3.8% in 1998 and foreign aid per capita fell from an average of $35 for the period 1989-92 to $2 for the period 1993-97. It is in situations like this, that FDI plays a pivotal role as an alternative source of foreign capital for the developing world. For developing and the least developed countries that are making efforts to attract FDI as a way to enhance their economic growth and hence their sustained development, it is particularly essential to identify and comprehend the prime factors that shape FDI inflows as they apply to each country in particular. Since FDI plays a pivotal role in the growth dynamics of a country, a number of factors that are believed to influence FDI inflows towards developing countries have been intensely investigated. Among these factors the following have been most frequently considered: exchange rate volatility, market size, GDP growth, trade openness, infrastructure development, country size (also size of economy), per capita GDP, quality of the labour force, labour cost, inflation, return on capital, export orientation, political stability. Such analysis has immediate policy relevance as it identifies areas of comparative advantage that these countries should favour in terms of resource allocation . 1.2 OBJECTIVES OF THE STUDY The main aim of this study is to carry out an empirical investigation of the factors explaining FDI inflows to South Africa over the period 1980-2003. The review of previous theoretical research and the review of previous empirical evidence are means to this end. 1.3 THE STRUCTURE OF A PAPER The structure of this paper is as follows: Chapter 2 provides a review of both the theoretical and empirical literature on factors believed to be the major driving force behind inward FDI activities for host countries. In Chapter 3, the paper provides an overview of the South Africas macroeconomic performance, FDI regulatory framework currently in place and incentives provided by the government to foreign investors. Chapter 4 discusses the data set and econometric methods used to carry out time series analysis for the study. The data and variable specifications are also described and clarified in this chapter. Chapter 5 reports and discusses the econometric results. A summary of findings, conclusions and policy implications are presented in Chapter 6. CHAPTER TWO: REVIEW OF FDI LITERATURE 2.1 INTRODUCTION The main aim of this chapter is to present theories of FDI as developed by previous research and review the empirical evidence on the determinants of FDI. Before these are considered in more details, a brief overview of the definition of FDI and related concepts is provided. Given that FDI has direct effects on the economic growth of the host country, a specific section provides a brief exploration of the relationship between FDI and growth. 2.2 FDI: DEFINITION AND CONCEPTS In its archetypal form, FDI is conventionally defined as the physical investment made by acquiring foreign assets such as land and factory buildings with operational control residing with the parent company (Buckley, 2004). The definition can be extended to include such investments that seek to exercise considerable influence on the management of the foreign entity. A parent company is required to hold at least 10% of the ordinary shares or voting rights in order to exercise control over an incorporated foreign company. An ownership stake of less than the stated 10% is regarded as foreign portfolio investment and does not qualify as FDI. FDI made by transnational companies (TNCs) is an indication of internal growth and it can be made in the form of greenfield investment or mergers and acquisitions. Greenfield FDI refers to an investment where a new entity is established in a foreign location. It entails formation of completely new production facilities in the recipient country (Eun and Resnick, 2007). Cross-border mergers and acquisitions are twofold. On one hand, they involve merging both domestic and foreign companies into one bigger company. On the other hand, they involve an acquisition of a domestic company by a foreign company. FDI is beneficial for the host country as it is a channel through which foreign capital and new technology are provided. FDI is regarded as a stimulus for economic activities and accelerated growth. The OECD (2002) describes FDI as a catalyst for speeding up the development process. Nevertheless, a recipient country must display a certain standard of development before it attracts FDI. Dunning (1977, 1979) identifies fundamental factors including firm specific and host country specific advantages that must be met before FDI occurs. These advantages are discussed in detail below. 2.3 FDI AND ECONOMIC GROWTH A number of empirical studies have analysed the relationship between FDI and the economic growth of a host country. Lipsey (2000) finds that FDI and economic growth are positively correlated. Abwona (2001) urges that the effects of FDI on growth may vary between countries, as not all countries are at the same level of development. Lim (2001) points out that FDI positively affects economic growth of a host country by transferring advanced technology from the industrialized to developing economies (Lim, 2001, p.3). Conceptually, FDI increases GDP growth because it increases the amount of goods and services produced in a host country. Benefits of FDI are only evident in increased level of output because of the host countrys ability to absorb technological spillovers from foreign firms. This, therefore, suggests that the positive contribution of FDI on growth is conditional upon the recipient countrys absorptive capacity of all the benefits that FDI brings. Much as there is general awareness that FDI influences economic growth, there is no general agreement on the causal relation between FDI and economic growth. De Mello (1997) argues that the relationship could run either way, as the prospects of economic growth make the host country more attractive to FDI. Once operational in a host country, FDI enhances growth by allowing the host country to integrate new inputs and technology to expand production. 2.4 THEORIES OF FDI In a study of TNCs, Hymer (1976) explains that because foreign TNCs have offsetting monopolistic advantages over domestic companies, they are able to compete with domestic companies that are in a better position with regard to knowledge and understanding of the domestic market. Kindleberger (1969) who suggests that these advantages should be adequate to tower over limitations and must be company specific reiterates this. According to Hymer (1976) and Kindleberger (1969), these advantages can be in the form of access to ownership patents, technological expertise, managerial expertise, marketing skills, etc. These skills should be scarce or completely unavailable to domestic companies. The basis of the argument here is on the theory of market imperfections in factor markets and product differentiation. In circumstances where market imperfections exist, firms find it rewarding to engage in cross-border direct investment instead of exporting to foreign markets or licensing. In this way, they can fully utilize their monopolistic market supremacy (Assefa and Haile, 2006). In the same year as Hymer (1976), Buckley and Casson (1976) developed the internalization theory. This theory stipulates that in some instances it is desirable for TNCs to refrain from licensing and to choose cross-border direct engagement over exporting. FDI occurs when TNCs undertake an internal operation rather than a market operation. TNCs internalize their activities to circumvent impediments presented to them by the external market. These impediments arise because of market flaws such as lack of managerial expertise, human capital, etc. The benefits of internalization include both time and cost savings. According to Moosa (2002), the rationale behind internalization is the persistence of externalities in both goods and factor markets. However, Rugman (1980) disapprove of the internalization theory by contesting that it cannot be empirically analysed. Twelve years after introducing internalization theory, Buckley (1988) came back to warn that the theory cannot be directly analy sed, claiming that the theory needs to be modified in order to allow rigorous analysis. He urges that there is still a room to develop advanced theories that can be empirically tested. Another line of study dealing with factors influencing FDI is based on Vernons (1979) product life cycle hypothesis. Assefa and Haile (2006) and Udo and Obiora (2006) relate their studies to Vernons product life cycle to explain that FDI is a stage in the life cycle of a new product from innovation to maturity. Home production is unique and strategic for some time, after which the new product reaches maturity and looses uniqueness. New similar products also enter the market and intensify competition. At this stage, the firms would then replicate the home production in lower cost foreign locations that offer cost benefits to the firm. The lower cost that can be achieved by producing in foreign locations can be due to cheaper factors of production and complementary government policies. Dunning (1993) develops an eclectic theory which is referred to as OLI framework. OLI is the short name for ownership, location and internalization advantages. In his theory, Dunning identifies three sets of advantages that must be met for a firm to get involved in foreign direct investment. The first set is ownership advantages, which entail technological expertise, patents, marketing skills, managerial capabilities and the brand name. A TNC must have these firm specific advantages over its rivals in a foreign location. In the absence of these advantages, the firm will be exposed to fierce competition from its rivals in the market it serves. The second set of advantages that must be met is the location advantages, which Dunning (1993) explains as the degree to which the foreign location is more favourable to invest in. Examples of these advantages are an abundance of natural resources, exceptional infrastructure development, political and macroeconomic stability. These advantages s hould be adequate to validate investment in a preferred foreign location. The third set of advantages is internalization benefits. The ability of a TNC to internalize its operations is the manner in which it enters foreign location. According to Dunning (1993), this could be by a greenfield project, product licensing or acquisition of foreign assets as long as it fits the management strategy, the nature of the firms business and the firms long-term strategic plan. Another rationale for FDI to occur is embodied in the in the industrial organization hypothesis (IOH) (Tirole, 1988). This hypothesis presupposes that there are various potential uncertainties that a TNC faces in foreign markets. The uncertainties may be political, religious, social, cultural and so on. If the firm decides to establish a subsidiary in a foreign location despite these uncertainties then the benefits accrued should be adequate to outweigh these obvious risks and restrictions. Lall and Streeten (1977) emphasize the importance of marketing and managerial skills, availability and ownership of capital, production technologies, scale economies and access to raw materials. They also put forward that FDI occurs because of the complexity of trading intangible assets abroad. Examples of these untradeable intangible assets include a TNCs organizational ability, executive skills, position in foreign financial markets and a well-established network with different government burea ucrats. 2.5 MOTIVES FOR FOREIGN DIRECT INVESTMENT Assefa and Haile (2006) assert that the ownership and internalization advantages as developed in Dunning (1993) eclectic theory are firm specific advantages, while location advantages are regarded as host country qualities. Firms choose locations where all these advantages can be combined together to advance the firms long-term profitability. Asiedu (2002) and Dunning (1993) distinguish the motives of FDI as either market seeking or non-market seeking (efficiency and resource seeking). According to Dunning (1993), a market seeking FDI is that which aims at serving the domestic and regional markets. This means that goods and services are produced in the host country, sold and distributed in the domestic or regional market (Asiedu, 2002). This kind of FDI is therefore, driven by host country characteristics such as market size, income levels and growth potential of the host market and so on. A non-market seeking FDI can either be classified as resource/asset seeking and/or efficiency s eeking. Resource seeking FDI aims at acquiring resources that may not be available in the country of origin. Such resources may comprise natural resources, availability and productivity of both skilled and unskilled labour forces as well as availability of raw materials. Efficiency seeking FDI aims at reducing the overall cost of factors of production especially when the firms activities are geographically scattered (Dunning, 1993). This allows the firm to exploit scale and scope economies as well as diversify risks. Apart from the economic factors that are believed to be the major motivation for FDI, the host countrys FDI policy also plays a major role in attracting or deterring FDI. This therefore, suggests a need for the host country to develop policies that provide a conducive environment for business if the authorities believe in the benefits of FDI. This necessitates a regular monitoring of the activities of TNCs and an acceptance by the host government that, if FDI is to make its best contribution, policies that were appropriate in the absence of FDI may require amendments in its pr esence. For example, macroeconomic policies may need to be altered in order to provide a favourable climate for FDI. Stronger competition as a result of FDI may also induce a host government to operate an effective and efficient competition policy. 2.6 EMPIRICAL LITERATURE There is an extensive empirical literature on the determinants of FDI. A large share of this literature focuses on the pull factors or, equivalently, on the host countrys location advantages. Given the increasing flows of FDI towards developing countries, especially in Asia, most academic researchers have been poised to investigate what factors influence flows of FDI into those countries. The African continent instead remains under researched, especially a country such as South Africa, which is regarded by many as one of the economic giants of the continent. The following studies have attempted to examine the link between FDI and predictor variables such as market size, GDP growth, inflation, exchange rate, political stability and many more. Goldar and Ishigami (1999) use panel data techniques to empirically analyse the determinants of FDI for 11 developing countries of East, Southeast and South Asia for the years 1985-1994. The authors estimate two separate models, one for Japanese FDI and the other for total FDI flowing towards these countries. They report a strong positive relationship between the size of the economy and FDI inflows for the two models. They also find a positive relationship between FDI inflows and the exchange rate. Intuitively, this suggests that lower exchange rates should make the host countrys exports more competitive in foreign markets and therefore act as an important factor for attracting FDI. Interestingly, Goldar and Ishigami (1999) report contrasting results for the relationship between FDI inflows, domestic investment and trade openness for the two models. They find both domestic investment and trade openness to be significant determinants for the Japanese FDI model but the authors fail to find support for the two variables for the total FDI model. Market size has generally been accepted as an important factor influencing FDI by many empirical studies. In a cross-country empirical study, Chakrabarti (2001) finds strong support for market size as an important determinant of FDI. He further reports that the relationship between FDI and other explanatory variables, such as trade openness, tax, wages, the exchange rate, the GDP growth rate and the trade balance is highly sensitive to small changes in these variables. That is, a small change in these variables is likely to deter or increase FDI inflows with a large magnitude. Campos and Kinoshita (2003) use two trade related variables to examine the extent to which trade openness influences FDI inflows for 25 countries in transition between 1990 and1998. The authors employ an external liberalization index and trade dependence as proxies for trade openness. They argue that, the greater degree of trade openness does not only increase international trade, but also increases FDI inflows. Chang et al. (2009) also study the importance of trade openness in the economic growth of a country. They use a sample of 82 countries from all over the world for the period 1960-2000. They conclude that trade openness, used in conjunction with complementary trade policies, enhances economic growth through increased FDI inflows into a country. Their finding further bolsters the position of trade openness as an important determinant of FDI. Root and Ahmed (1979) seek to analyse the determinants of manufacturing FDI in 58 developing countries for the period 1966-1970. They classify these determinants under three categories: economic, social and political. Among the four important economic variables they study, infrastructure, per capita GDP and GDP growth rate appear to be important predictor variables while the absolute of size of GDP does not help to predict FDI. They also put forward that foreign investors view long-term political stability and the extent of urbanization as important factors when choosing the location for their investments. Nunnenkamp (2002) adopts Spearman correlations to study the relationship between FDI and its determinants for 28 developing countries between 1987 and 2000. His findings show that variables such as GDP growth rate, entry restrictions, post-entry restrictions, market size, infrastructure and quality of the labour force, as measured by the years of schooling, have no effect on FDI inflows. However, he also reports positive effects on FDI of non-traditional factors such as factor costs. That is, the cheaper costs of factors of production, like lower costs of raw materials and lower costs of labour, are essential for attracting efficiency-seeking FDI. Tsai (1991) presents an opposing view by arguing that in Taiwan FDI inflows have increased with increasing labour costs. His findings suggest that in Taiwan, there are far more important determinants of FDI than cheaper costs of factors. Indeed Tsai (1991) observes that for the years 1965-1985, Taiwans economic performance was spectacular, with an expanding domestic market and purchasing power of the economy as measured by rising GDP per capita. Singh and Jun (1995) look into three determinants of FDI in developing countries. They pay particular attention to socio-political stability, favourable business operating conditions and export orientation. They employ other macroeconomic variables as control factors. The authors use a political risk index (PRI) developed by Business Environment Risk Intelligence, S.A (BERI, 2009), as a measure of socio-political instability. When used in conjunction with traditional determinants of FDI such as GDP growth rate and per capita GDP, PRI appears to be highly associated with FDI for 31 developing countries for the period 1970-1993. Schneider and Frey (1995) also find political instability to be a significant deterrent of FDI for 54 less developed countries, considered over three different years 1976, 1979 and 1980. Furthermore, Singh and Jun (1995) employ an operation risk index (ORI) also developed by BERI, S.A, and taxes on international trade and transactions (ITAX). They further find that ORI is highly associated with FDI flows and has a positive sign. ITAX is also reported as an important determinant of FDI. They also find export orientation to be highly related to FDI flows, especially manufacturing exports. Asiedus (2002) investigation on the determinants of FDI in 71 developing countries provides further evidence of the importance of these extensively studied FDI determinants. Asiedu goes a little further to assess whether the same determinants of FDI have a similar impact on FDI flowing towards Sub-Saharan Africa (SSA) between 1980 and 1998. After a detailed analysis, she concludes that factors influencing FDI in other developing countries do not necessarily have a similar impact on FDI flows to SSA. She notes that infrastructure development and a high return on capital influence FDI flows towards developing countries in other continents, but the same factors have no influence on FDI flows towards SSA. Bende-Nabende (2002) also undertakes a study probing into the determinants of FDI flows towards 19 SSA countries for the period 1970-2000. In this study, market growth, trade liberalization and export orientation turn out to be important factors explaining why countries are able to attract foreign investors. Obwona (2001) argues that the Ugandan market size has been one of the driving forces behind FDI flows into the Ugandan economy between 1975 and 1991. Yasin (2005) uses panel data from a sample of 11 SSA countries for the period 1990-2003. His findings lead to the conclusion that official development assistance (ODA), trade openness, growth of the labour force and the exchange rate are important determinants of FDI, while his findings do not suggest that the growth rate of per capita GDP, a political repression index and a composite risk index have explanatory power. Ahmed et al. (2005) examine the composition of capital flows between 1975 and 2002, to assess if South Africa is different from 81 other emerging markets. They classify relevant factors into macroeconomic performance, investment environment, infrastructure and resources, quality of institutions, financial development and global factors. The authors argue that some factors influencing capital flows are limited to particular forms of capital, while other factors have comparable effects on FDI, bond and equity flows. They further assert that the more open the economy is to international trade, the richer it is in natural resources, and the fewer barriers to profit repatriation it has, the more likely it is to attract FDI on a large scale. The implication of this study is that South Africa should ease its capital controls in order to avoid deterring FDI. South Africa is currently allowing repatriation of profits only within six months (Ahmed et al., 2005). The agglomeration effect is another important factor that can be used to explain why countries that have attracted FDI in the past still receive a large share of it. Notable magnitudes of existing FDI stocks in recipient countries tend to attract more FDI inflows (Lim, 2001). Foreign investors incorporate the size of the existing FDI stocks in their decisions as they seek locations where to expand their operations. Campos and Kinoshita (2003) also confirm that for 25 countries in transition between 1990 and1998, foreign investors tend to locate where others are investing, as the decision by other firms implies a favourable atmosphere for investment offered by counties in which they locate. Asiedu (2003), Loree and Guisinger (1995) and Lee (2005) consider effective government policies, especially the monetary and fiscal policies, as important factors that can be used to effectively attract or deter FDI inflows. Loree and Guisinger (1995) use effective tax rates for 48 countries (classified into developed and developing countries) in 1977 and 1982. After finding the effective tax policy variable to be significant, they conclude that government policies are important and that policy reforms are likely to attract more FDI. Lee (2005) investigates some evidence on the effectiveness of policy barriers to FDI for 153 developing and developed countries between 1995 and 2001. He finds strong support for the proposition that restrictive public policies deter FDI inflows. Asiedu (2003) studies the effects of investment policy on FDI for 22 SSA countries over the period 1984-2000. Her findings show that governments can increase FDI flows by developing and implementing policies th at provide investor friendly environment.s CHAPTER 3: SOUTH AFRICAS MACROECONOMIC OVERVIEW, FDI REGULATORY FRAMEWORK AND INCENTIVES. INTRODUCTION The purpose of this chapter is to provide an overview of the South African macroeconomic performance over the period of study (1980-2003). This has been based on two regimes – the apartheid regime and the democratic regime. Other sections of the chapter are dedicated to the regulatory framework for FDI and the incentives offered to foreign investors by the South African government. 3.2 THE APARTHEID SOUTH AFRICA According to Lester et al.(2000), the pre-1994 period was one during which South Africa was politically unstable as a result of the racial discrimination philosophy (apartheid) that was adopted by the Nationalist government then in power. This created internal resistance by black South Africans, who protested against the racial discrimination practices. In 1960, the Nationalist government banned organizations such as the African National Congress (ANC) that represented black South Africans and this intensified demonstrations against the government. In response to the protests, the Nationalist government using armed forces, killed and arrested many black South Africans activists. These incidents drew attention from the international community, who condemned the repression against black South Africans by a Nationalist government that predominantly looked after the interests of white South Africans. These events also caused distress among foreign investors, who became sceptical of the p rospects of South Africas economic stability and the protection of their investments. This led to capital outflow, a mounting pressure on the South African rand in foreign exchange markets, effective economic sanctions and the isolation of South Africa from the rest of the world. Despite being blessed with an abundance of natural resources, especially gold, diamonds, platinum and other minerals, South Africa was not a favoured location for investment during this period. Political instability, investment insecurity and violation of human rights severely inhibited FDI. Realizing the challenges that came with economic isolation, the Nationalist government, in an attempt to uphold domestic capital growth, introduced incentives for import substitution industries such as car manufacturers and military equipment (Lester et al., 2000, p.187). Despite these attempts, this period saw South Africa undergoing falling investment, diminishing international reserves, sinking economic growth, soaring rates of inflation and lofty interest rates (Nowak, 2005). During this period, the economic performance was notably disappointing as investors left South Africa in search of other locations that offered better conditions for their investments. As shown in Table 3.1, the GDP growth rate was declining in some years with an average annual growth estimated at 1.44% per annum for the years 1980-1990. In addition, inflation and interest rates were continuously increasing with no signs of stabilising. All these were signals of loss of effective control of macroeconomic policies. Table 3.1: GDP growth, inflation and interest rates in South Africa for the period 1980-1990 Year 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 GDP annual % change 5.4 -0.4 -1.9 5

Native American educational traditions passed Essay

Before contact with Europeans, Native Americans developed an effective system of informal education call aboriginal education. The system included transmitting knowledge, values, skills, attitudes, and dispositions to the next generation in real world settings such as the farm, at home, or on the hunting ground. Education was viewed as a way to beautify and sharpen the next generation and prepare them to take over the mantle of leadership. The purpose of education was for an immediate induction of the next generation into society and preparation for adulthood. Education was for introducing society with all its institutions, taboos, mores, and functions to the individual. Also, education was intended for making the individual a part of the totality of the social consciousness. Native American education delineated social responsibility, skill orientation, political participation, and spiritual and moral values. The cardinal goals of Native American education were to develop the individual’s latent physical skills and character, inculcate respect for elders and those in authority in the individual, and help the individual acquire specific vocational training (Franklin, 1979). Native American education was also for developing a healthy attitude toward honest labor, developing a sense of belonging and encouraging active participation in community activities. Both boys and girls had equal access to education. Boys were taught by their fathers, uncles, grandfathers, and other male elders. Girls were instructed by their mothers, aunts, grandmothers, female elders and other members of their families. Sometimes, both boys and girls received instruction at the feet of either male or female elders (Mould, 2004). There were barely any dropouts and the community ensured that every child received a full education. Youth appropriate information and knowledge was not hidden from any child. Several teaching strategies, including storytelling, were utilized to pass on knowledge and culture to the youth. In fact, Mould (2004) believed that storytelling was a sacred and vital part of a Native American youth’s education. Knowledge and culture were passed down orally, â€Å"crafted into stories that would instruct, inspire, provoke, question, challenge, and entertain† (Mould, 2004). Often, the youth would gather together to listen to the elders as they related the knowledge once entrusted to them when they were children (Mould, 2004). The philosophy of education was that of the development of the individual as well as the whole society (Johnson et al. , 2005). Educational philosophy also emphasized the importance of nature. The pursuit of knowledge and happiness were subordinated to a respect for the whole universe. According to Johnson, knowledge was equated with an understanding of one’s place in the natural order of things and educators were encouraged to study and teach the physical and social world by examining the natural relationships that exist among things, animals, and humans. Studying ideas in the abstract or as independent entities was not considered as important as understanding the relationships among ideas and physical reality. The essential components of an educational experience included hands on learning, making connections, holding discussions, taking field trips, and celebrations of the moment (Johnson et al. , 2005). These highly effective teaching methods were utilized by adults to transmit culture to or educate the next generation. The youth learned at their own pace and barely competed against one another. The youth were taught to be supportive and nurturing of one another in the learning process. As a result of the holistic education that all youth were exposed to in the period before their contact with Europeans, there were barely any miseducated Native American children. At the time of European contact with Native Americans (from 1492), an advanced system of informal/aboriginal education had been developed by Native Americans as noted earlier. That system was misunderstood by Europeans who thus made efforts to impose their formal system of education on Native Americans. After contact with Europeans, formal education for Native Americans was initially conducted by missionaries and private individuals until the 1830s. There were increased European government efforts to formally educate Native Americans after the passage of the Indian Removal Act (1830) which forced Native Americans onto reservations (Tozer 2009). The purpose of formal education of Native Americans, as far as Europeans were concerned, was forced acculturation or assimilation to European culture (Tozer 2009). The aim of the European system of education was to â€Å"civilize†, Christianize, and Europeanize the Native Americans in European-controlled schools. To achieve this purpose and aim, many Native American children were forcibly removed from their homes and enrolled in European-controlled schools. By 1887, about 14,300 Native American children were enrolled in 227 schools run by the Bureau of Indian Affairs or by religious groups (Tozer 2009). The schools were operated based on an Anglo-conformity assimilationist approach. The Anglo-conformity assimilationist approach included the following: 1) Educating the Native Americans away from their culture due to the philosophy of Europeanization or Christianization or â€Å"civilizing† of the Native American through education; 2) Intensive efforts were made to destroy extant Native American cultures by excluding Native American cultures from the school curriculum; 3) Concerted efforts were made to prevent Native American students from following their own culture; and 4) Native American students were punished for speaking their native languages (Feagin & Feagin, 2003). This approach motivated European American educators to force Native American students into boarding schools where it was believed that it would be easier and much more effective to Europeanize, Christianize, and â€Å"civilize† them. Students were forced to dress like Europeans, convert to Christianity, and take European names. Students who refused to conform were severely punished. The effects of the Anglo-conformity assimilationist approach on Native Americans cannot be overemphasized. Many of them lost or became confused about their cultural identity. Some tended to know a lot more about European culture, history, philosophy, and languages than about their own culture, history, philosophy, and languages. Europeanization, Christianization and â€Å"civilizing† of Native Americans through formal education seriously undermined the very foundation of Native American cultures and alienated many Native Americans from their own cultures and environment. Formal education forced many Native Americans to absorb European lifestyles and led to individualism as well as serious weakening of traditional authority structure and kin group solidarity. Many Native Americans lost faith in their own cultures and civilizations and absorbed those of Europeans. Some have neither fully adopted European culture nor fully embraced Native American culture and consequently swing between the two in a state of cultural confusion. Eurocentric education has been a miseducation of Native Americans as has been for all minority groups in the United States. These and many other political, social and economic effects of formal education on Native Americans have permeated Native American cultures till today. European American teachers and administrators have blamed Native American educational problems on cultural differences. This is known as cultural deficit theory. According to cultural deficit theorists, disjuncture’s or differences or deficits between the culture of the home and the culture of the school are the reasons for the poor academic achievement of non-European students (Johnson et al. , 2005). European American schools focus only on the dominant culture and expect all students to operate as if they are members of the dominant culture, giving an advantage to students from the dominant group and a disadvantage to those from minority groups (Johnson et al., 2005). What cultural deficit theorists advocate is that students from minority groups, including Native American students, must reject their own cultural patterns and absorb European American cultural patterns in order to be successful in school. Thus, in an effort to assist their students to be high achievers in school, many European American teachers have attempted to make their students â€Å"less Native American† by educating them away from their own cultures and imposing Anglo-European culture on them. Many schools and textbooks exclude Native American experiences and their immeasurable contributions to this society and the rest of the world and provide little to nothing to assist Native American children identify with their own cultures. From the 1930s some boarding schools were replaced by day schools closer to reservations and a bilingual policy of educating Native American students in both Native American languages and the English language was discussed (Feagin & Feagin, 2003). Since the 1960s, organized protest has led to increased government involvement and aid for primary, adult, and vocational education for Native Americans on and off the reservations. Federal and local governments have focused more attention on local public schools (outside the reservations) and Bureau of Indian Affairs (BIA) schools in the reservations. For greater inclusion of Native Americans in their own education, Native American advisory boards have been organized in mainstream public schools. More Native Americans have been added to school faculty and staff. Native American art, dances, and languages have been included in the school curriculum. The central curriculum taught in both BIA and mainstream schools have remained the same from colonial times until recently. The curriculum indoctrinates Native American children with the same European American values as in the past (Feagin & Feagin, 2003). In many reservations today however, there are efforts to reverse this by teaching students in Native American languages and culture from the early years of their education. In the Choctaw Reservation in Choctaw, Mississippi for example, students are taught in the Chahta and English languages in the first three years of formal schooling and in the English language from the fourth grade onwards. Throughout their schooling to the high school level, they are taught and exposed to Choctaw culture and encouraged to speak the Chahta language in and outside of school. One of the essences of the Annual Choctaw Indian Fair is to educate both the youth and adults in Choctaw cultural practices and traditions and to transmit Choctaw culture to the next generation. The author of this article, who happens to be an African and from a continent which has had similar experiences as those of Native Americans, greatly applauds the new forms of formal education among Native Americans on the reservations, which include an integration of the Native American system before their contact with Europeans and aspects of the European system as a way of preserving what is left of Native American cultures, preparing contemporary Native American youth for their real world settings, and meeting the needs of Native Americans. The large scale migration of many Native Americans to the cities since the 1950s has led to a decline in the number of children in BIA schools. By the early 1990s less than ten percent (10%) of Native American children attended BIA schools (Feagin & Feagin, 2003). Today, most Native American children attend mainstream local public schools due to the fact that majority of Native Americans live off reservations with their children (United States Census Bureau, 2001). The mainstream educational system has however failed to meet the needs of Native American students. The failure stems from the absence of a Native American perspective in the curricula, the loss of Native American languages, the shift away from Native American spiritual values, and the racist and discriminatory activities of many European American teachers and administrators (Feagin & Feagin, 2003; Schaefer, 2004). Perhaps, mainstream educators could borrow the new forms of formal education being practiced on the reservations which seem to much better meet the needs of Native American students rather than continually imposing the Eurocentric system which has not worked for Native Americans. With regard to higher education, since the 1960s, many mainstream colleges have established Native American Studies centers to provide facilities for the study of Native American issues (Feagin & Feagin, 2003). By the late 1990s, more than 134,000 Native Americans were enrolled in colleges and universities throughout the United States (Schaeffer, 2004). Majority of the students attended predominantly European American public colleges and universities. Some of the students were not very successful due to the ingrained racist and discriminatory practices in those institutions. Consequently, many Native American students dropped out of those institutions. In general, Native American formal educational attainment has remained lower than that of the general population due to the Eurocentricity of the educational system. By 1990, less than two-thirds of Native Americans over the age of twenty-five were high school graduates compared to three-fourths of all Americans in that age range. Native American students in mainstream schools are disproportionately placed in special education classrooms. The proportion of Native American students who drop out after tenth-grade is 36%, the highest of any racial or ethnic group and more than twice that of European Americans (Schaeffer, 2004). In view of the aforementioned issues in education among Native Americans, a Department of Education Task Force organized in the late 1990s recommended the following for addressing Native American educational issues: implementation of multicultural curricula that inculcate respect for Native American history and culture, and establishment of programs that guarantee that Native American students learn English well. The task force assumed that if Native American students learn English very well then they will be successful in school, an assumption which is traced to the cultural deficit theory discussed above. Today, many Native American students attend Native American-controlled community colleges. The community colleges integrate Native American history and culture into courses. More attention is given to students and their cultures in the Native American-controlled educational institutions. Native Americans had established an effective educational system which ensured the smooth transmission of their cultures to the next generation before their contact with Europeans. The system included passing on of knowledge, values, attitudes, skills, and dispositions required for successful functioning of every individual in real world settings. Access to education was denied neither to male nor female while all children were taught to support and nurture one another and not necessarily compete against one another in the learning process. Learning was undergirded philosophically by a reverence for nature and a sense of humans’ responsibility to nature (Johnson et al. , 2005). The arrival of Europeans from 1492 onwards led to the imposition of a Eurocentric educational system which was underpinned by an Anglo-conformist assimilationist approach discussed above. This approach included educating Native Americans away from their cultures as a way of rendering them â€Å"less Native American† and more European American. The Anglo-conformist assimilationist approach in the formal education of Native Americans has left many of them miseducated and quite confused about their cultural identity. The political, economic and social impact of the European aim of Europeanizing, Christianizing and â€Å"civilizing† Native Americans through formal education are discussed at length in a paper presented by the author at the National Association of Native American Studies Conference in 2004. Fortunately, today, Native American leaders are successfully making efforts to reverse the adverse effects of the imposed Eurocentric educational system by synthesizing traditional Native American educational practices with European American practices. Works Citied Feagin, J. R. and Feagin, C. B. (2003). Racial and ethnic relations. Englewood Cliffs, New Jersey: Prentice- Hall Johnson, J. A. ; Dupuis, V. L. ; Musial, D. ; Hall, G. E. ; and Gollnick, D. M. (2005). Introduction to the foundations of American education. Boston, Massachusetts: Allyn and Bacon. Mould, T. (2004). Choctaw tales. Jackson, Mississippi: University Press of Mississippi. Schaefer, R. T. (2004). Racial and ethnic groups. Upper Saddle River, New Jersey: Pearson Education, Inc. Steven Tozer (2009) School and Society : Historical and Contemporary Perspectives. McGraw- Hil Publishing Company.

Testing for Drugs In The Olympics Essay - 1507 Words

Have you ever watched the Olympics and wondered how the athletes can be that strong and fast? The International Olympic Committee (I.O.C.) certainly has. Each year the athletes come up with new ways to enhance their performance, and make it harder for the Olympic drug testers to detect banned substances. With performance enhancing drugs becoming harder to police, the burden of trying to keep the Olympics as clean as possible falls on the I.O.C.s shoulders. Drug use in the Olympics is not a new idea. Dating back to the runners and javelin throwers of ancient Greece and Rome, athletes have been looking for supposedly magic potions (Corelli, par. 1). With competition growing stronger and stronger throughout the†¦show more content†¦The I.O.C., fearing false positive tests of clean athletes and subsequent lawsuits in nations that enjoy due process, such as the United States, has set the dirty bar extremely high (Are Drugs, par. 6). Therefor, most athletes are careful to choose the hard-to-detect drugs, or stop taking the drugs well in advance of announced tests. One agency that is separate from the I.O.C., called the World Anti-Doping Agency, may be able to make a difference. This agency is currently conducting 2,500 out-of-competition tests, the only kind with any reasonable chance to catch a cheat. Frank Shorter, chairman of the U.S. Anti-Doping Agency says, I want reciprocity, so any country thats not tested up to our standards cant compete here...I want to get the athletes involved...the Australians are voting on maybe giving voluntary blood tests in Sydney to prove theyre clean. Thats a sign of willingness (Are Drugs, par. 26). The I.O.C. is constantly making efforts to find more reliable tests for detecting performance-enhancing drugs. In the 1996 Summer Olympics, the I.O.C. authorities introduced high-resolution mass-spectrometers to help detect anabolic steroids and other banned substances in athletes (Corelli, par. 2). But not even these high-tech machines can always find the substances in the athletes urine. Some of the athletes use methods such as storing clean urine samples in bodyShow MoreRelatedPreventing PEDs in Professional Sports Essay1198 Words   |  5 PagesThe use of performance enhancing drugs (PEDs) among athletes in professional sports has caused an outrage all around the world for many years. The use of PEDs not only affects the athlete that chooses to use them, but also the athletes they are competing against, other teams, and the team or country they are representing (â€Å"Survey Reveals†). It is important for athletes to maintain a good reputation in competition, because they need to represent their team in a positive manner and not create suspicionRead MoreThe World Anti Doping Agency1446 Words   |  6 PagesWith the 2016 Summer Olympics just around the corner our media is capturing both positive accomplishments and negative behavior about the potential Olympic athletes and telling us everything we didn’t want to know. Doping is always a highlighted issue and we in America are familiar with it in our high profile sports culture such as NFL, NBA, and MLB but it is not just in our homeland culture. It has been internationally affecting the Olympics since its inception in 776-393BC and modern day resurrectionRead MoreHow Society Is Affected By Drug Usage In Sport?1540 Words   |  7 PagesDrugs have been a problem in our society for years. They have been used and abused by many groups, including amateur and professional athletes. Drugs are also used for recreational use not just for performance enhancement. Society is directly influenced by the usage of drugs in sport. A study in 2002 showed that An estimated 3 million people aged 15 or older reported that they used marijuana or hashish at least once in the year before the survey This shows that 12.2% of all Canadians either haveRead MoreDrugs in Sports 934 Words   |  4 Pagesthat use drugs while performing in the Olympic games should have some type of punishment. They should not just be able to get away with everything. Even though not every athlete uses drugs while performing, any drugs that is, the ones who do should have to pay the price. When they use drugs while they are performing, they are risking their whole career, and even their life. Athletes should be requ ired to take a drug test if they plan on performing in the Olympics. Athletes that use drugs shouldRead MoreSteroids Is The Single Most Abused Performance Enhancing Substance737 Words   |  3 PagesSteroids are the single most abused performance-enhancing substance in the history of sports. As popular as the drug may be, the DEA listed anabolic steroids as a controlled substance under the Controlled Substance Act in 1990: meaning steroids can only be prescribed by a medical professional (Parks 12). Steroids are not only creating a poor image of professional sports, they also set a terrible example for the athletic, competitive youth of this generation. Children venerate their role models -Read MoreThe Use of Illegal Drugs in Sports Essay examples1565 Words   |  7 PagesThe Use of Illegal Drugs in Sports â€Å"He’s at the 40, the 30, the 20, the 10, the 5, TOUCHDOWN!!† Can you imagine the joy of having 100,000 people chanting your name and cheering as loud as they could just for you? Now try imagine having all of that, then having it taken away because you tested positive for illegal drugs. This is the harsh reality for several professional athletes. They get a small taste of greatness but instead of working harder they take a drug and immediately notice improvementRead MorePro Doping in Sports Debate825 Words   |  4 Pagesthe Medical Ethics Program at the University of Wisconsin Steroid Hysteria: Unpacking the Claims, American Medical Association Journal of Ethics Nov. 2005 Drugs vs. Technology Sport is for enjoyment and competition, and usually aims to improve; but what is the difference between increasing skill and performance by training, and taking drugs? If it is the use of personal effort rather than outside help, then what of ropes, crampons and oxygen fo r climbing? What of advanced training by teams of sportsRead MoreChallenges Faced by Sports Management730 Words   |  3 Pagesticket prices. 1. Doping The use of performance-enhancing drugs by professional athletes has been a controversial issue for many years. According to the World Anti-Doping Agency, the use of performance enhancing drugs can actually be traced all the way back to the ancient Olympic games. Athletes often use artificial stimulants to give them a physical and/or mental advantage over their opponents. There are several types of performance-enhancing drugs; some of the most popular include anabolic steroids,Read MoreThe Role Of Ben Johnson During The Olympic Olympics1103 Words   |  5 Pagesinvestigation into drugs in sports. Johnson was a well-known Canadian runner. He won gold in the 1988 Olympics breaking both world and Olympic records. Winning the gold medal at the Seoul Olympic Games gave Canadians a reason to celebrate and led to widespread celebrations across the country. Winning gold for one’s country bring pride to the country and Canada took full advantage. It is believed that the Prime Minister even used the victory to call a federal election. After the Olympics were over, theRead MoreIssues Plaguing the Olympic Games680 Words   |  3 PagesEven with the fact that the Olympic Games should be perceived as being a happy event that influences society as a whole to direct its interest toward concepts like sports and health, they are often responsible for generating some of the most intriguing controversies. Drug testing has progressed greatly during the recent years and it is difficult and almost impossible for an athlete to take drugs that are not accepted by the International Olympic Comittee. Even with this, many risk losing their career

The Prison System Needs Reform - 7898 Words

Prisons have become one of the most polarizing topics, especially, in the United States and even around the world. Whether the prison system needs reform or outside forces are changing how prisons operate. Prisons are becoming overcrowded. Overcrowding is causing problems within the prisons with sexual assault, healthcare, racism, and solitary confinement. These came to more attention in 2014. When T.J. Lane escapes from Allen Oakwood Correctional Institution. T.J. Lane was serving three life sentences without parole after killing three high school students at Chardon High School (Payne and Lenz). The prison that lane was being held at, Allen Oakwood Correctional Institution, is a definition as a medium security level prison. This means†¦show more content†¦While measuring crime and incarceration rates. While Norway was pick because the most successful prison system in the world at the moment. Reason they are label as the most successful prison system in the world because of their recidivism rates. Since the beginning of time, good people have rationalized the efforts to keep social order. Keeping social order is done by punish and prevent evil. This is dated as far as back before Christ. However, through the course of history, prison evolved into the most used convention for dealing with evil people. With the idea of prisons starting to take place before Christ. During the time under Greece and Roman empire the great philosophical approaches to the punishment of prisons begin to transform. Plato presented the deterrent approach to punishment in his work of Gorgias: â€Å"Now the proper office of all punishment is twofold; he who is rightly punished ought either to become better and profit by it, or he ought to be made an example to his fellows, that they may see what he suffers, and fear to suffer the like, and become better. Those who are improved when they are punished by gods and men, are those whose sins are curable; and they are improved, as in this world so also in another, by pain and suffering, for there is no other way in which they can be delivered from their evil. But they who have been guilty of the worst crimes, and are incurable by reason of their crimes, are made examples; as they are incurable, theyShow MoreRelatedThe Major Punishment For Criminal Acts1526 Words   |  7 Pagesan estimated 2338,000 individuals are in state prisons, more than 90,000 are in the federal prison, and more than 5,000 are in juvenile facilities. In the same way, more than 20,000 are in territorial prisons and military prisons, as well as local jails. By October 2013, America had the highest rate of incarceration across the globe at 718 per 100,000 people. It is equally important to note that as of December 2014, the International Centre for Prison Studies reported that there were 2, 783,689 prisonersRead MoreWhat is Wrong with Out Penal System817 Words   |  3 Pagesfuture atrocities glorious and otherwise.† In the position that prison reform is not justified and shouldn’t be ruled in favor of, that I feel compelled to negate today’s resolution. Resolved: Prison reform is not justified. For clarification of today’s round, I offer the following counter definitions. To begin with, the word prison reform is defined as the attempt to improve conditions inside prisons, aiming at a more effective penal system. In addition to that, the term not justified is defined as somethingRead MorePrison Reform Is Not The Best Option For Punishing Criminals Essay921 Words   |  4 Pagesaudience to belive that prison reform is necessary. I. INTRODUCTION A. Attention Getter: It is estimated that there are about 2.2 million offenders in U.S. prisons. That is larger than some samllers nation’s whole population. B. Credibility Statement: I have done exstensive research on prison reform, and I have wirtten a paper on it. I have also taken a class on the prison system. C. Audience Relevence: It is important to be aware of how our countries correctional system is run and why it is notRead MoreDorothy Dix Changed the Prison and Mental Health Systems1068 Words   |  4 PagesIn the world, changes need to be made. Some people dedicate their lives to improving the world and making it a better place. In the early 1800s, one woman decided that the prison and mental health systems could be improved to be kinder and more effective institutions. She saw a change to be complete in the world and made it her task to recreate the prison and mental health systems in a new and superior style. Throughout the years, prisons and mental health asylums have changed greatly, especiallyRead MoreA New Sentencing Reform For The United States1190 Words   |  5 PagesSentencing Reform America holds 16.3 trillion dollars in debt and the debt will continue to increase for the next twenty years. Arizona is not far behind with the accumulating debt of 42.7 billion dollars. Arizona crimes rates has increased in the last decade and the state now has over 42,000 inmates being provided food and cells at the taxpayers’ expense. To accommodate the increase of prisoners, Arizona has the increase the spending on the prison system will ignoring methods that willRead MoreThe Prison System Is Not Functioning Well869 Words   |  4 Pagesthat the UK’s current prison system is not functioning well. Although the HM Prison Service outline their purpose as ‘we keep those sentenced to prison in custody, helping them lead law-abiding and useful lives, both while they are in prison and after they are released’ (Gov.uk, 2016), currently nearly half of all prisoners go on to re-offend within a year, which costs society  £15 billion a year (Ministry o f Justice, 2016). In addition, last summer, the Chief Inspector of Prisons warned that jails inRead MoreThe English Legal System Essay518 Words   |  3 PagesEnglish Legal System The English legal system is based on Common Law as opposed to Civil Law. Common Law is a system whereby Judges apply judgment derived from experience as well as knowledge of legal precedent; a system based on customs. Whereas Civil Law, which developed out of the Roman Law of Justinian’s Corpus Juris Civilis, is mainly based on written legislation, thus judgements are made on the provisions of codes and statutes; a system based onRead MoreThe Prison Reform System Is The Main Objectives Of The Modern Penal System1131 Words   |  5 PagesSince the introduction of the prison systems to humanity, people have always tried to think of ways to improve upon it. Prison, is and has been seen as the primary punishment against criminal acts. But, prison is no longer seen as just a form of punishment it is also seen as a form of rehabilitation. Now, seen as the main objectives of the modern penal system. We can still incorporated new methods to effectively rehabilitate convicts and make the reintegration process for them much easier. One ofRead MoreJustice And Its Impact On Public Safety792 Words   |  4 Pagescost of justice is measured through its effectiveness in reform and the impact on public safety. The 2013 budget for the Department of Justice (DOJ) was $27.1 billion, with $8.6 billion earmarked for federal prisons and detention. â€Å"The number of inmates under the Bureau of Prisons’ (BOP’s) jurisdiction has increased from approximately 25,000 in FY1980 to over 219,000 in FY2013.† (James, 2014) The numbers speak for themselves; the prison population is growing rapidly and with it the cost of maintainingRead MoreJails and Prisons History and Development Final1591 Words   |  7 PagesJails and Prisons History and Development Introduction Jails and prisons lay at the heart of the Criminal Justice System. These facilities helped forge the concept of rehabilitation. These institutions have changed over time and now reflect the modern methods of housing convicted individuals who need to be reformed or punished. Description of jails The clear concise difference between a jail and a prison is the time limit a convicted person is sentenced to and what offenses were committed. In

`` Really Doesn t Crime Pay `` - 1338 Words

This can also be seen from a different perspective. In the story â€Å"Really Doesn’t Crime Pay† there is an African American woman that is well educated. She has a passion for writing, however, she struggles to secure her husband’s support. She eventually finds someone that she can confide in that supports her as a writer. Although it is not before long that this person steals her work and publishes it as his own. This causes her to fall into a lifelong bout of depression. This story expresses the common theme of a women being discredited or betrayed due to their vulnerability, even when she is doing something great. Across the board women are treated like this. It took many years for women to get the privilege of being educated and even†¦show more content†¦Walker extends this to communicate the value in maintaining accurate historical records for our families. Again in â€Å"A Letter to the Editor Ms.† Walker suggests this. â€Å"And I looked again at Shirley Chisholm’s Face (which I have never seen before except on television) and was glad that she kept a record of her political and social struggles, because our greatest women die, often in poverty and under the weight of slander, and are soon forgotten.† (ISOMG pg. 274) Walker continually conveys the importance of African American women writers and keeping up with their works. Without these accounts history and truth is being lost. There is so much history that is taught about African Americans in general that is diluted because of the lack of truthful firsthand accounts that are available. Without the ability to get an education, word of mouth and storytelling was the only way that tradition and history could be passed down through the generations. Here the themes of the importance of the role of women is introduced. Their role is important in maintaining this knowledge. We (African American women) can not only know names of those before us, but rather kn ow their story. Walker points out the importance of African American women covering all grounds and knowing ‘her herstory’ to aid future generations. We must spend time doing this, so we let none of our history die with us. Walker acknowledges the significance of different communitiesShow MoreRelatedSynopsis Of Book I 1289 Words   |  6 Pagescrowded, filthy and run down area. The streets near his garret are always filled with drunks and tradesmen. Rivers and canals run through different parts of the city. Raskolnikov lives in a garret of a five story house. His living conditions aren t great and he lives in constant fear of his landlady. His room is extremely small and he sleeps on an old, run-down couch. The pawnbroker is a small unkempt 60 year old woman named Alyona Ivanovna. She wore tattered, old and dirty clothing. 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