Wednesday, January 29, 2020
Pollution Essay Essay Example for Free
Pollution Essay Essay Pollution happens absolutely everywhere, every single second of the day, everywhere on earth. It happened in any city, any town, or any state. You can find pollution in cars, home electronics, personal hygiene products, natural disasters, and even your own home. Pollution is poison for anything that lives and breathes; it could toxify water, air, land, humans, and animals, and is not to be taken lightly. As a law people should be more considerate of their surroundings and try harder to preserve the world we live in, even if it is inconvenient to us. Because if we donââ¬â¢t save ourselves, who will? The effects we could do to save our planet from pollution could be proactive, instead of catastrophic and disastrous. Everyone benefits when we have clean water, air, land, etc. not just one thing. For example, you never hear any news on the TV, or over the internet talking about how a person passed away from clean air overdose, that would be crazy. Instead we hear news like, man died from pollution, family living in home pollution, water tests show pollution particles, the list could go on forever. By identifying the problem early, we can start to reverse the pollution process. Therefore, we can take what we have now and set new standards and laws that can help us from killing ourselves in the long run and putting the earth in a more clean state. The problem is, not everyone agrees with the fact that pollution is hurting us right now, or going to hurt us, and new generations to come. People get this information from insignificant and false sources and then spread that information to others that will willingly listen, without objection. This statement misses the point though; the fact is people are trying to help us now. And even though we might not feel the negative effects, it doesnââ¬â¢t mean itââ¬â¢s not happening to us right now. Some places have higher levels of pollution in their air and water and those people might be in more danger than others, and they might not even know it. For this reason one person cannot do this by themselves, it needs worldwide effort, from everyone. People need to stop being lazy and do something for themselves, and others. Also people need to start thinking about the future, and not just the year thatââ¬â¢s going on right now. To meet these high demands of labor and cost, I think people should be required to carpool with other people a few times a week, or stop using girl products like hairspray and other cans of manmade chemicals and CFCââ¬â¢s that deplete the ozone layer and cause minor but significant pollution. If people really did try to change something small they do every day, and everyone did it, think of how much good change could happen. And never think just because somethingââ¬â¢s small, it wonââ¬â¢t hurt ââ¬Å"As muchâ⬠because its people like that who chose the worst decisions. Also Iââ¬â¢m sure for most objects, or personal hygiene products wouldnââ¬â¢t have a problem changing a few chemicals in their product to make it more people and planet friendly. There have been so many companies and organizations that have helped the earth and have reduced the amount of toxins we use. People everyday try to come up with new ideas, and strategies to get us where we need to go, and what we need to do, without the harmful effects of chemicals and toxins. So as iv stated many times in this essay, one little person can make a huge difference, but not only one person can do it alone. We all need to try to help to save our environment from pollution for ourselves, and for future generations. And just think, if everyone changed something in their daily routine to make it more planet friendly, how that could turn out to help all of us in the long run.
Tuesday, January 21, 2020
powmac Free Macbeth Essays: Death as the Price of Power :: GCSE Coursework Macbeth Essays
Death as the Price of Power in Macbethà à à Macbeth is a tragedy and a story of the struggle between good and evil. It is about a Thane of Scotland who murders the king in his quest for power. Macbeth commits these crimes partly because of his wifeââ¬â¢s ambition and greed, in the end he is destroyed because he feels so guilty and is overtaken by fear and paranoia. The most important part of the play for me was the moment when Macbeth dies. This shows that the play was a complete tragedy and Macbeth's ambitions which were influenced by his wife were a failure. Not one of the main characters benefited by this terrible chain of events. All the pain and unhappiness illustrated in these scenes represent the play as a whole, it is a classic tragedy. This moment was so powerful as it is done off stage but with sound affect this left a lot more to the imagination which has a strong impact. The acting was very believable and made me feel involved. I felt I knew what itââ¬â¢s like to be in such a human tragedy. The king of Scotland played his part well. I thought this because of his body language, in that he stood tall and mighty like an important person, a leader. The servant acted small and insecure. he kept his body in a ball and had his head down low, he never raised his voice but when people did to him he flinched . This illustrated that he was of lower status. When an important action was taken place the actorââ¬â¢s attention focussed on the event taken place and they exaggerated the major actions. For instance when Macbeth saw the images of a bloody knife he looked and reached out at something. Also when someone was talking or making a speech all the other actors looked at the actor who was speaking or showing something. If an actor was the center of attention they would be in the middle of the stage, as when Macbeth saw the ghost of his friend he had murder ed. The table was in the corner while Macbeth was in the center looking at the table this made it very clear of the situation and who you were supposed to be looking at. When lady Macbeth rubbing her hand continuously to get the blood off, this symbolizes her fear and guilt.
Monday, January 13, 2020
Partnership Care Nursing: A review of two Peer-reviewed Journals on Care Nursing
Introduction The concept of teamwork in health and social care has a vast literature. For instance, a policy developed by the Department of Health in 2007 mainly focused on eradicating inequalities in health service provision through partnership working between primary care providers and other social care agencies. Todayââ¬â¢s healthcare service status demands teamwork, which is particularly true for nurses who have to deal with multiple of factors during their professional service provision. On the same breadth is the increased call for more patientsââ¬â¢ involvement in their health, including on the right to make decision and seek legal support on the basis of their health. In other words, every patient receiving healthcare services, including nursing service is entitled to be actively involved in their own care. The philosophy behind partnership working in nursing is based on several concepts and principles: empowerment, autonomy & rights, power-sharing, information sharing, respect, mak ing informed choices, and paternalism. The aim of this paper is to analyse ideas from two different articles by different authors on the topic of nursing, particularly on the partnership working in nursing. Discussions Article I: Patient participation in nursing care: towards a concept clarification from a nurse perspective In their study, ââ¬Å"Patient participation in nursing care: towards a concept clarification from a nurse perspectiveâ⬠Sahlsten et al. (2007) explored the evolution of patient participation, a concept that has not only gained significant transformation overtime, but also brought with it more challenges on definitions and dimensions of patient participation. The authors used focus group interviews to collect data, conducting open interviews on the selected seven groups. While the data gathering took five months to accomplish, the researchers were able to uncover the respondentââ¬â¢s perspectives in depth. While the focus group interviews may have mainly focused on the meaning and implementation of patient participation in line with the studyââ¬â¢s aim, the results can clearly reveal what nurses value most in terms of patient participation. Respondents rated equal partnersââ¬â¢ participation, co-operation, and shared responsibility as the most significant factors in rel ational nursing (Sahlsten et al., 2007, pp. 635-636). While the aim of the study was to explore ââ¬Å"the meaning of patient participation in the nursing care from a nurse perspectiveâ⬠(Sahlsten et al., 2007, p.632), the review of other authorsââ¬â¢ works reveals a plethora of issues in the nursing care and partnership working. The nurse-patient relationship is considered successful when both parties view each other as partners, with the nurse required to use professionalism, knowledge and positive ideas in the implementation of nursing care plan. Patient, on the other hand, is expected to have the intellectual ability to understand and make the right choices with regard to their own nursing care. The authors, however, faults the incongruence relationship between studies conducted in relation to patient participation on one side and definitions, elements and processes in literature and practice on the other side. Although there are a lot of empirical literature on nursing theories and patient participation, the authors claim t hat no empirically grounded theory has ever been established, calling for significant insight into more studies related to the concept of patient participation in their own nursing care. The authors claim that the traditional approach where patients were mere recipient of nursing care has changed, and subsequently replaced by the more active patients who are directly involved in their own care. More importantly, patientsââ¬â¢ participation simply means the opportunity for them to participate in their own care, with regular adjustment as the situation may demand. Article II: The relational core of nursing practice as partnership Jonsdottir, Litchfield and Pharris (2004), while exploring ââ¬Å"the relational core of nursing practice as partnershipâ⬠, focused their analysis on the evolving relational core of nursing care in the backdrop of increased technology use and outcome-oriented approaches. The three authors, unlike their previously outlined counterparts, only focused on critical review of the available literature, espousing the role of evolving dialogue between nurse and patient in terms of partnership nursing and care. While technology is considered in the positive side in terms of medical breakthroughs, experts and general observers alike have associated it with distraction in health care services that need personalised attention including nursing (Jonsdottir, Litchfield and Pharris, 2004, p.241). In retrospect, the authors claim that the distracted modern nurse sees patient as a problem rather than partner to be attended to, consequently obscuring the humanness of nursing experience. To emphasise on the need to correct the deteriorating relational nursing concept in the perspective of partnership, Jonsdottir, Litchfield and Pharris (2004) outline and analyse various research studies that backs the need for nurses to be real partners through presence, care, and attentiveness in every stage of care nursing. The authors categorically state that the patients need medical treatment as priority, but emphasis should also be given to proven holistic approaches to care nursing, which studies have revealed to be equally significant in the overall healthcare. The focus on holistic care nursing should thus be based on dialogue between nurses and patients, for example, where the former should be in a position to explain to the latter why a certain procedure or activity is necessary in the process of care nursing. Conclusion While the two set of authors had different approaches to their respective work, both articles exemplifies harmony in terms of the need for partnership care nursing. One may, however, notice that the former article largely referred to partnership in the perspective of increased patient participation in own care nursing. The latter article mainly focused on partnership as a dialogue between nurse and patient. It is prudent to state that the former authorsââ¬â¢ focus on patient elevation is largely due to historical background of healthcare service provision that pushed patients to the periphery of their own health. Nonetheless, the difference in semantics and approach notwithstanding, the two sets of authors agree that both patients and nurses need to collaborate, and view each other as partners rather than either one party feeling superior to one another. After all, it is common knowledge in the health care cycle that post-modern health and social care services requires more than t he post-warââ¬â¢s ââ¬Å"one-size-fits-allâ⬠approach that dominated the universal health care service provision more than fifty decades ago. References Jonsdottir, H., Litchfield, M. and Pharris, M.D. 2004. The relational core of nursing practice as partnership. Journal of Advanced Nursing, 47(3), 241-250. Sahlsten M.J., Larson I.E., Sjostrom B., Lindencrona, C.S. and Ploskae. 2007. Patients participation in nursing care: towards a concept clarification from a nurse perspective. Journal of Clinical Nursing, 16, 630-637.
Sunday, January 5, 2020
Summary Of Siddhartha By Herman Hess Essay - 1316 Words
Austin Burchett Dr. Bain-Selbo Dr. Samuels RELS 200: World religious literature November 10, 2016 Siddhartha is a novel written by Herman Hess, that tells the story based off one of the past lives of the Buddha. In the story, Siddhartha Gautama is on a quest to pursue spiritual enlightenment by seeking guidance from external sources such as Buddhists, Brahmins, Samanas, and even in the material world. Throughout his spiritual pilgrimage, Siddhartha eventually discovers that he cannot learn how to achieve spiritual enlightenment by only relying on exterior sources of spiritual guidance. Siddhartha finally fulfills his Nirvana when he has an internal connection to the river that allowed him to see the complexity of existence. In my opinion, exterior paths for Siddhartha, is not essential to achieving Nirvana but I believe that without exterior guidance, finding internal guidance would be merely impossible. During Siddharthaââ¬â¢s youth, he would always sit and talk with the elders to further understand the Brahmin heritage and achieve all the knowledge he possi bly could. After gaining all the wisdom of the Brahmin, Siddhartha tells his father that he believes he and the other scholarly Brahmin have learned nearly everything from the holy books, but he is concerned that they have not yet achieved enlightenment. Siddhartha feels that the rituals he has been taught by the Brahmin, seem more like a custom than an actual path to enlightenment. One evening Siddhartha reveals to his
Saturday, December 28, 2019
New and Improved Rewards at Work Essay - 1590 Words
Employers have been coming up with innovative employee rewards to boost morale and acknowledge employee needs for creativity and personal goal accomplishment. Some of the latest potential employee rewards include using the internet at work for personal reasons such as shopping, communicating with friends, or personal finances; bringing a pet to work; instituting a controlled napping policy, and the sports and office betting pools.. Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. Workers feeling, which includes competitive compensation and reward strategies, professional growth and development, career paths and succession plans and the organizations leadershipâ⬠¦show more contentâ⬠¦Variable pay is a way to reward employees for contributions to organizations goals and dangle ââ¬Å"a carrotâ⬠for future performance. It is also linked to the financial performance of the company, but can be tied to productivity, team work, safety, quality or other company/stakeholder metric. Variable pay is a type of pay-for-performance plan that was once used for executive employees, but is now used to award employees at all levels, also considered merit pay. Merit pay increases are universal and are separate from cost of living adjustment. Merit increase is typically based on an employeesââ¬â¢ performance and once determined becomes part of the base pay. Team-based rewards are based on the team outcomes or accomplishment and can include noncash rewards such as trips, time off, or luxury items. Company-wide rewards are based on the entire performance of the company. This is usually in the form of profit sharing. Progressive companies are using variable pay more as the workforce compensation, thus ensuring when employees prosper the company prospers. This is yet to be proven especially in the recent economic downturn and payouts have been off because of sluggish performance. With stocks undervalued other compensation such as benefits and perks are more meaningful. (GA Partners, 2014) Explain how innovative benefits could be tied toShow MoreRelatedNew and Improved Rewards at Work1627 Words à |à 7 Pagesinnovative benefits could be tied to specific jobs. After that, it critiques the effectiveness of equity-based rewards systems versus those with more creative approaches and discusses the key elements of integrating innovation into a traditional total rewards program. And last, it recommends a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization. 1. Determine how innovations in employee benefits can improve the overall competitiveRead MoreNew And Improved Rewards At Work. Creating And Implementing1534 Words à |à 7 PagesNew and Improved Rewards at Work Creating and implementing new and improved rewards systems at work has been a tool of success for many organizations. Corporations use these rewards to boost employee morale and to allow their employees ââ¬Å"me timeâ⬠. Throughout the course of this paper, I will determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. Next, I will explain how innovative benefits could be tied to specific jobs. ThirdlyRead MoreEssay Total Rewards1510 Words à |à 7 Pages NEW AND IMPROVED REWARDS AT WORK 1 Running head: New and Improved Rewards at Work New and Improved Rewards at Works HRM 533 Total Rewards Dr. Mary Ann Wangemann Read MoreThe Importance Of Employee Motivation And Customer Retention Essay1634 Words à |à 7 PagesEmployees play a pivotal role in the success of any business or non-business organization. They determine various organizational success factors including productivity, innovation, service and product quality, customer loyalty, and work efficiency. Indeed, in their research study, Ganesh and Mangalore (2016) established a strong link between employee motivation and customer retention. Therefore, any effort to improve the performance of an organization should begin with addressing human resource issuesRead More Is Financial Compensation Beneficial Or Detrimental In An Empowerment1359 Words à |à 6 PagesWhat is an Empowerment ? Basically empowerment means giving the employee the ability to do their work, i.e. through the right training, the right environment, the right information, the right tools and the authority that they need. It is thought that by giving the employee increased power and responsibility that the employee will have increased motivation. Organisations have developed a number of new programs in which it is hoped that employees will have empowerment and so increased motivation.Read MoreLet1 Task 1733 Words à |à 3 Pagesmore effort in her work. * Instrumentality: the belief that an individualââ¬â¢s performance will result in a reward for that performance (or the performance-reward relationship). If an employee works for an organization that rewards employees with salary increases or promotion based upon positive performance evaluations, the employee may feel justified in the additional effort he has exerted to receive the positive evaluation. However, if the organization only offers such rewards based upon employeeRead MoreHerman Miller Inc Case Study Essay1167 Words à |à 5 Pagesto staff the organization with managers and employees capable of executing the strategy? How did this practice build the organizational capabilities required for successful strategy execution? Lifelong employment is known as permanent employees work for a single employer and are paid directly by that employer. In addition to their wages, they often receive benefits like subsidized health care, paid vacations, holidays, sick time, or contributions to a retirement plan. Permanent employees are oftenRead MoreImproving The Situation At The Engstrom Auto Mirror Plant1345 Words à |à 6 PagesScanlon Plan bonus works, create or use their marketing and sales department to the full capacity, and to help empower the workforce work to achieve Corporate Social Responsibility. (CSR) With the problems piling up at the Engstrom plant causing it to go downhill, there are solutions to the problems. As work changes, so do the nature of the relationships between employees and employers. Each expects of the other to focuses on competency, development, continuous training, and work and life balance.Read MoreTask 2.3 Group Dynamics And Teamwork1623 Words à |à 7 PagesTask 2.3 - Group Dynamics and Teamwork The organization would be considered a formal group, identified by the organizational structure, with this office being a functional group since it operates as a full-time department team performing ongoing work to achieve organizational objectives. Group dynamics is the forces that operate in groups that affect task performance and human resource maintenance (Wiesner, 2010). While there are a number of models on group development such as Tuckman or GersickRead MoreMerit Pay For Teachers And Teachers1327 Words à |à 6 Pagestheir performance, and that of their students. Some states have already started using merit pay programs. Merit pay encourages teachers to work harder at assisting their students in learning. Replacing the current public education system with a merit-based system would rid the education community of bad teachers. It would attract a higher achieving work force to teaching and encourage overall improvement in schools. This would all lead to better teachers and more student success in schools.
Friday, December 20, 2019
How John Keats used Symbolism in his Ode to a Grecian Urn...
How John Keats used Symbolism in his ââ¬Å"Ode to a Grecian Urnâ⬠nbsp;nbsp;nbsp;nbsp;nbsp;John Keats was born in 1795 in Moorfields, England. He was the son of a stableman who married the ownerââ¬â¢s daughter and eventually inherited the stable for himself. He was fourteen when his mother died of tuberculosis. Having been apprenticed to an apothecary at the age of fifteen, John felt the need to leave medical field to focus primarily poetry. Keatsââ¬â¢s imagery ranges from all of our physical sensations: sight, touch, sound, taste, and sexuality. Keats is one of the most famous for his Odes. Traditionally, the ode is lengthy, serious in subject, elevated in its diction and style, and often elaborate in its stanza structure. ââ¬Å"Symbolism seems theâ⬠¦show more contentâ⬠¦The silence of the urn is stressed, it is the ââ¬Å"unravishââ¬â¢d bride of quietness.â⬠Symbolism is used to compare the urn as a ââ¬Å"foster-child of silence. Keats makes use of time and motion with the word ââ¬Å"still.â⬠Although the urn exists i n the real world, which is subject to change and time, the urn and the life that it represents are unchanging. Hence, the bride is ââ¬Å"unravishââ¬â¢dâ⬠and as a ââ¬Å"fosterâ⬠child, the urn is touched by ââ¬Å"slow time,â⬠not the time of the real world. Because the urn is a thing, and the figures are carved on the urn, it is not bind by time; therefore, the urn may be changed or affected over ââ¬Å"over slow time.â⬠nbsp;nbsp;nbsp;nbsp;nbsp;According to author Jack Stillinger, in a book titled Twentieth Century Interpretations of Keatsââ¬â¢s Odes, ââ¬Å"In the first line of the poem Keats pointedly enunciates the duality of his theme in a metaphor whose dual functions are neatly balanced. By addressing the urn as a ââ¬Å"still unravished bride of quietness,â⬠ââ¬Ëhe suggests its changeless ungenerative descent through the ages, it does not reproduce itself, remains the itself and transmits itself and its meaning directly (Stillinger, pg. 49). nbsp;nbsp;nbsp;nbsp;nbsp;Line 3 makes reference to the ââ¬Å"Sylvan historian.â⬠Keats is symbolizing the border of leaves that encircles the vase. This ââ¬Å"Sylvan historianâ⬠holds all of the answers to the past that this urn is representing. The urn can expressShow MoreRelatedTo Autumn, by John Keats Essay887 Words à |à 4 Pages The poem ââ¬Å"To Autumnâ⬠by John Keats was written with a sense of him describing his girl as a person, of whom he loved very dearly. This was the last great ode he was able to write before he died (Prince). This poem was written on crisp, fall day in September (Flesch). After Keats had composed this poem, he wrote a letter to his friend calling his work a genesis (Flesch). Even though this poem was written for Keats lover, it also described how as the seasons are changed to fall, summer still has aRead MoreSimilarities and Dissimilarities Between Shelley and Keats6975 Words à |à 28 PagesSimilarities and dissimilarities Though P. B. Shelley and John Keats were mutual friends, but they have possessed the diversified qualities in their creativity. These two are the great contributors of English Literature, though their lifecycle were very short. Their comparison are also little with each other, while each are very much similar in thoughts, imagination, creation and also their lifetime. 01)à Attitude towards the Nature P. B. Shelley: Whereas older Romantic poets looked at nature as
Wednesday, December 11, 2019
Key Sources of Financial Fragility-Free-Samples-Myassignmenthelp
Questions: 1.Describe three key sources of Financial fragility that led to the Financial Crisis 2.Discuss about the Central Banks response to the Crisis. 3.What is the relationship between financial development, growth and volatility? Answers: 1.The beginning of the US financial crisis can be traced back to 2008 following the collapse of Lehman Brothers Investment Bank. This was then followed by the 2009 EU Debt crisis which affected many European countries and finally the global economic downturn. In this essay, I describe the three main sources of the financial fragility that led to the above sequence of events. Securitization According to Diamond and Raghuran (2009), one of the reasons for the financial crisis can be blamed on securitization of assets. Following an increase in demand for housing and low interest rates, many banks began investing in mortgage based securities. A mortgage based security is a type of derivative whose price is based on the value of its mortgages used as collateral. The banks would then sell these securities to investors like hedge funds, pension funds, commercial banks and other institutions. In the process, they were also transferring their credit risk to these investors. As a result, these securities were deemed more profitable to banks and they opened up a new source of funding from traditional ways. As profits grew, demands of the bank and investors to invest in these securities also grew. As a result, banks began lending loans to anyone including subprime borrowers who had a higher risk of default. When the property bubble began to burst and mortgage prices started to fall, the price of the mortgage based securities became volatile and decreased in value. By then, most banks had these securities listed on their balance sheets. The drop in value made these securities worthless and banks were faced with liquidity problems as they were unable to borrow against them. Some went to the extent of becoming insolvent. To prevent the entire system from collapsing, big financial institutions had to be bailed out by the Feds and other governments. Short Term Debt The second reason provided by Diamond and Raghuran (2009) for the financial fragility was the heavy reliance by financial institutions on short term debt capital structures. In good times and periods of low interest rates, short term debt is favored by most institutions as it is cheaper than long term debt. However, as pointed above, a lot of these banks were holding mortgage based securities which were dependant on the value of real estate. Consequently, there was a maturity mismatch as the assets backing the short term debt were long term in nature. Furthermore, during the economic downturn, it was impossible to liquidate property and real estate in the short term. Thus banks were again faced with the risk of illiquidity and potential insolvency. Regulatory Failure and Deregulation The third reason for financial fragility is regulatory failures. There were many regulatory failures that led to the current crisis. For example, there was no strict regulation that existed on the transactions between the banks and other investors when selling the mortgage based securities that proved fragile under stress. These resulted in numerous layered transactions and almost every institution ended up holding these securities, either directly or indirectly, on their balance sheets. In addition, the numerous layers involved in the selling of these securities complicated the supervision process by the regulators. According to Kroszner and Melick (2009), the tools and approaches used for financial regulation prior to the crisis had not evolved along with the changes and sophistication of the financial system. As a result, they proved inadequate. Additionally, other regulatory failures included a decline in credit risk underwriting procedures. Traditionally, the process of offering loans was stricter but with the securitization, it became more relaxed. Furthermore, there was poor oversight by rating agencies on the lending process. In summary, we have observed that the emergence of sophisticated financial instruments coupled with short term debt structures were the key sources of the financial fragility that led to the crisis. This is evident from the way many US banks were moving away from traditional roles of just lending and investing in derivatives like mortgage based securities which they perceived to be more profitable with less strict underwriting procedures. The financial crisis also revealed weaknesses in the original supervisory structures of banks which proved to be inadequate and out of date. Consequently, it generated a need to strengthen the existing framework by tackling existing problems while identifying and preventing possible future threats to the system. 2.The central banks role is to maintain prices and stabilize inflation. According to Bernanke (2009) speech, the central bank (fed) did the following in response to the crisis. Ease monetary policy by cutting down the discount rate- In an effort to improve the economy and reduce inflation, the discount rate was brought down to its lowest rate of 1% over seven months. Provide short-term liquidity to financial institutions that are sound- This allowed institutions to borrow from the bank against the less liquid collateral. By providing liquidity they were reducing systematic risk. Directly provide liquidity to market players in specific credit markets. The aim of providing liquidity was to reduce concerns of rollover risk in cases where a borrower couldnt repay maturing commercial paper. Increase banks portfolio investment in long-term securities- The aim of this is to improve conditions in the mortgage markets by placing a downward pressure on the long term interest rate. 3.Theoretically, financial development should support economic growth as it allows for proper allocation of capital and resources. However, in reality, this may not always be the case as evidenced by the 2008 financial crisis. We observed that financial development came at a cost in terms of volatility. The new sophisticated instruments and multiple layers of transactions made the system vulnerable and fragile to shocks consequently leading to a downward spiral of the economy (Kroszner, 2012). On the other hand it can also be argued that financial development may reduce volatility through risk sharing and diversification. However, this effect may probably be more visible in less developed markets than mature markets like in the west. References Kroszner, R. (2012). Stability, Growth, and Regulatory Reform. Paris: Banque de France. Diamond, D., Raghuran, R. (2009). The Credit Crisis: Conjectures about Causes and Remedies. Cambridge: National Burea of Economics Research. Kroszner, R., Melick, W. (2009). The Response of the Federal Reserve to the Recent Banking and Financial Crisis. Rome: Brugel Institute and the Peterson Institute of International Economics. ernanke, B. (2009, January 13). The Crisis and Policy Response. Retrieved August 5, 2017, from www.federalreserve.gov/newsevent/speech/bernanke20120413a.htm Kroszner, R., Melick, W. (2009). The Response of the Federal Reserve to the Recent Banking and Financial Crisis. Rome: Brugel Institute and the Peterson Institute of International Economic.
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