Analysis of “The Ethics of Respect for nature”

In this paper, I will be conducting an analysis of the article â€Å"The Ethics of Respect for nature† written by Paul W. Taylor. In this paper Taylor presented the foundational structure for a life-centered theory of environmental ethics. The structures according to Taylor are based on three categories which are related. The first part of the structure is called respect for nature. What this section of the article basically talked about was how human being only respects living things. And it also mentioned how if we as human beings were to adapt to the life-centered system of environmental ethics, the way in which we view the world right now will have to have to change we would be caring for nature more than we are now. Taylor argued that, it is the good (well-being, welfare) of individual organisms, considered as entities having inherent worth that determines our moral relations with the Earth’s wild communities of life. In order to prove his argument he was able to relate the argument with the anthropocentric views. In the anthropocentric view, human actions affecting the natural environment and its nonhuman inhabitants are right (or wrong) by either of two criteria: they have consequences which are favorable (or unfavorable) to human well-being, or they are consistent (or inconsistent) with the system of norms that protect and implement human rights. From this human-centered standpoint it is to humans and only to humans that all duties are ultimately owed (James). We as human have no obligation to promote or protect the good of nonhuman living things. The difference between the life-centered system of environmental ethic and the human-centered system of environmental ethic is in life centered system (as noted earlier) we as human will have more duty to the nature. Our duties to respect the integrity of natural ecosystems, to preserve endangered species, and to avoid environmental pollution stem from the fact that these are ways in which we can help make it possible for wild species populations to achieve and maintain a healthy existence in a natural state (Taylor). Our duties with respect to the â€Å"world† of nature would be seen as making prima facie claims upon us to be balanced against our duties with respect to the â€Å"world† of human civilization. We could no longer simply take the human point of view and consider the effects of our actions exclusively from the perspective of our own good. The evidence that the author used to justify the respect of nature is by making clear the fundamental moral attitude that underlies and makes intelligible the commitment to live by such a system. The second part of the structure is a belief system that constitutes a way of conceiving of the natural world and of our place in it. This belief system underlies and supports the attitude in a way that makes it an appropriate attitude to take toward the Earth’s natural ecosystems and their life communities. This section focuses more on the perception of biocentric outlook on nature. Taylor believed that the biocentric outlook on nature has four components; the first is human are thought of as member of the earth’s community of life, second the earth’s natural ecosystems as a totality are seen as a complex web of interconnected elements, with the sound biological functioning of each being dependent on the sound biological functioning of the others. Third, each individual organism is conceived of as a teleological center of life, pursuing its own good in its own way. And the last component, whether we are concerned with standards of merit or with the concept of inherent worth, the claim that humans by their very nature are superior to other species is a groundless claim and, in the light of elements (1), (2), and (3) above, must be rejected as nothing more than an irrational bias in our own favor (Taylor). To further understand his argument he was able to relate human with other species in a biological aspect. The laws of genetics, of natural selection, and of adaptation apply equally to all of us as biological creatures. In this light we consider ourselves as one with them, not set apart from them. We, as well as they, must face certain basic conditions of existence that impose requirements on us for our survival and well-being. Each animal and plant is like us in having a good of its own. This argument is considered a strong one because it logically self-explanatory and there are many scientific evidence to support this argument (Darwin’s theory of evolution). What differentiate us humans from any other species according to Taylor is our good. This argument is reasonable because, although our human good (what is of true value in human life, including the exercise of individual autonomy in choosing our own particular value systems) is not like the good of a nonhuman animal or plant, it can no more be realized than their good can without the biological necessities for survival and physical health (Taylor). Taylor also argued about the possibility of extinction. The possibility of the extinction of the human species, a possibility which starkly confronts us in the contemporary world, makes us aware of another respect in which we should not consider ourselves privileged beings in relation to other species. This argument has some strength to it because according to biology, the well-being of humans is dependent upon the ecological soundness and health of many plant and animal communities, while their soundness and health does not in the least depend upon human well-being. Thinking about it, one can argue that the existence of the human race is not necessary. Every last man, woman, and child could disappear from the face of the Earth without any significant detrimental consequence for the good of wild animals and plants. On the contrary, many of them would be greatly benefited. The destruction of their habitats by human â€Å"developments† would cease. The poisoning and polluting of their environment would come to an end. The Earth’s land, air, and water would no longer be subject to the degradation they are now undergoing as the result of large-scale technology and uncontrolled population growth. Life communities in natural ecosystems would gradually return to their former healthy state. Tropical forests, for example, would again be able to make their full contribution to a life-sustaining atmosphere for the whole planet. The rivers, lakes, and oceans of the world would eventually become clean again. Spilled oil, plastic trash, and even radioactive waste might finally, after many centuries, cease doing their terrible work. Ecosystems would return to their proper balance, suffering only the disruptions of natural events such as volcanic eruptions and glaciation. The third component is a system of moral rules and standards for guiding our treatment of those ecosystems and life communities, a set of normative principles which give concrete embodiment or expression to the attitude of respect for nature. Taylor was able to support his argument by relating the idea of human superiority to the system of moral rules. The relations that the author made in this case certainly helped his argument because, knowing that we as human are superior to other animals, we tend to overlook the morals in which we are supposed to look at which result in humans not respecting other species (James). The author also argued that various nonhuman species have capacities that humans lack. There is the speed of a cheetah, the vision of an eagle, the agility of a monkey. Why should not these be taken as signs of their superiority over humans in the way we as human treat other species? This evidence is reliable because according to research a cheetah is faster than an average human being, an eagle has a much better vision than an average human and a monkey is much more agile than an average human being (Taylor). In the aspect of moral rights and the matter of competing claims, Taylor argued that animals and plants should not be included in the class that have moral rights. He argued that there is no reason, why plants and animals, including whole species populations and life communities, cannot be accorded legal rights under my theory. This is a strong argument because to grant them legal protection could be interpreted as giving them legal entitlement to be protected, and this, in fact, would be a means by which a society that subscribed to the ethics of respect for nature could give public recognition to their inherent worth (James). The strength of this article is that it can be related to many aspect of the human race today in consideration to the definition of right and human rights today. Most of the term that was used in the article was well defined for example the definition of both life and human centered environmental ethics. There was also enough adequate support of his argument, for example in the way Taylor used the anthropocentric view to support his argument of life-centered environmental ethics. One weakness that I found in this article is the way the author went about relating his topic in order to make his argument more sufficient. The author should have stated in introduction that he will be using â€Å"the attitude of respect of nature†, â€Å"the good of being and the concept of worth† etc. to support his argument instead of jumping into the discussion. In conclusion, Taylor presented the foundational structures for a life-centered theory of environmental ethics. The structures according to Taylor are based on three categories which are related. The first part of the structure is called respect for nature, the second part of the structure is a belief system that constitutes a way of conceiving of the natural world and of our place in it and the third component is a system of moral rules and standards for guiding our treatment of those ecosystems and life communities, a set of normative principles which give concrete embodiment or expression to the attitude of re pect for nature . The author’s main purpose in this paper has been to try to establish a base point from which we can start working toward a solution to the problem. Most of the arguments that Taylor constructed in this paper are really convincing and was supported by evidence both scientific and philosophical evidence.

Power Flow Control Using Facts Devices Engineering Essay

With the increased capableness of power system web, increased complex tonss and with the interstate power transportation, the control of power in both transmittal and distribution lines has gained premier importance. The conventional method of power control utilizing power sloughing is no more cost effectual and causes power perturbations in the system. Alternatively a smooth control of power is the alternate solution to get the better of the above job. Fast response existent power control will be necessary to take transients, maintain rotor angle stableness and supply equal post-contingency control of the web. Reactive power flow capableness on the other manus will function to minimise line VARs flow under normal runing conditions while maximising flows necessary to keep voltage stableness during the undermentioned eventualities. Power flow control may besides be strategically used to minimise or cut down the demand for transmittal enlargement. In general, the control action in power systems can be categorized as on/off of uninterrupted ( including measure wise uninterrupted ) . The uninterrupted controls for illustration can besides be categorized as either coevals based or web electric resistance based. The web electric resistances used for uninterrupted control can be either physical or practical ( non-physical ) reactive or resistive constituents. Virtual constituents are presented to the web via interpolation of controlled synchronal electromotive force beginnings shunt connected to the coach and/or connected in series with transmittal lines. Development of high power and high exchanging power electronic devices has made it possible to command big power flows utilizing FACTS devices.Structure of the power system ( Kundur )Electric power systems vary in size and structural constituents. However, they all have the same basic features. Are comprised of three-phase ac systems runing basically at changeless electromotive force. Generation and transmittal installations use three-phase equipment. Industrial tonss are constantly three-phase. Single stage residential and commercial tonss are distributed every bit among the stages so as to efficaciously organize a balanced three-phase system. Use synchronal machines for coevals of electricity. Prime movers convert the primary beginnings of energy ( fossil, atomic, and hydraulic ) to mechanical energy that is, in bend converted to electrical energy by synchronal generators. Transmit power over important distances to consumers spread over a broad country. This requires a transmittal system consisting subsystems runing at different electromotive force degrees.Power flow in an a.c. systemIn ac power system, given the in important electrical storage, the electrical coevals and burden must equilibrate at all times. To some extent the electrical system is self modulating. If coevals is less than burden, the electromotive force and frequence bead and at that place by burden goes down to be the coevals minus the transmittal losingss. However, there is merely a few per centum border for such self-regulation. If electromotive force is propped up with reactive power support so the burden will travel up, and accordingly frequence will maintain dropping and the system will fall in. Alternatively, if there is in equal reactive power, the system can hold electromotive force prostration. Demand for electrical energy uninterrupted to travel steadily ( F19 )Reactive power demand ( text book diabetes mellitus tagare )The reactive power demand of big public-service corporations like the province electricity boards in India can be divided into two groups. Fixed KVAR required by the public-service corporations to: maintain their transformers energized and to cover their KVAR for the distribution system to transport a minimal base burden. Variable KVAR to cover load reactive power demands non covered by the consumer reactive power demands by the public-service corporations transformers and distribution system to transport variable consumer burden.Ripples and power system transeunt analysis [ T 11 ]Ripples are utile for transeunt analysis. Much of power system analysis is steady province analysis. However in the country of electric power quality analysis, transients may presume an of import function. For illustration, it is sometimes necessary to cipher the extension of a lightning shot urge in a radial distribution system or a networked transmittal system. The transient created by a communicating failure of an electronic convertor might hold to be analyzed in some instances. The computation of the extension of transformer inpouring and shunt capacitance exchanging currents is besides transeunt jobs. A choice of power system transients appear in tabular array. Type Location Duration Lightning Overhead circuits  µs – MS Line exchanging Transmission and stand in transmittal system  µs – MS Capacitor exchanging Transmission and Distribution systems  µs – MS Communication failure Converters MS Transformer inpouring currents Transformers in transmittal and distribution systems. ms – s Analysis of these transients might be done in the clip sphere, in the frequence sphere or parallel simulation. These methods have their advantages and disadvantages. But all are stressed in the analysis of short clip transients assorted with low frequence signals. Ripples offer certain clip frequence advantages over strictly frequence sphere methods. The window of a ripple ( and besides a transform based on the ripples ) is automatically adjusted in breadth in the presence of long or short term signals. The female parent ripple in a ripple transform employs clip compaction or dilation instead than frequence transition as might be used in Fourier analysis. Besides it may be possible to choose the female parent ripple to fit the expected response- there by contracting ripple spectrum as compared to the frequence spectrum. Rebeiro is by and large credited with proposing ripple analysis for power system/power quality analysis. Rebeiro chief part apart from the cardinal suggestion of ripples on power technology is in the country of signal Reconstruction. Robertson, Camps, Mayer and Gish have late proposed the usage of ripples in power technology to: Capture power system transients for event recording equipment applications. Report power system perturbations Detect inchoate failure of equipment. Resolve power quality struggles. ( Hingorani )Series CompensationWhen a generator accelerates and angle ? additions /?t & A ; gt ; 0, the electric power transmitted must be increased to counterbalance for the extra mechanical input power. When the generator decelerates and angle ? decreases /?t & A ; lt ; 0, the electric power must be decreased to equilibrate the deficient mechanical input power. K = grade of series compensation = Xc/X 0 ? K ?1 Ninety is the reactance of the series capacitance. Ten is the entire reactance of the line at the cardinal power system frequence degree Fahrenheit. K = upper limit when /?t & A ; gt ; 0 K = 0 /?t & A ; lt ; 0 with maximal k the effectual line electric resistance lower limit. i.e the electromotive force across the existent line electric resistance is maximal. i.e the electric power transmitted over the line is maximal. With minimal K i.e K = 0. The effectual line electric resistance is minimal. i.e the electromotive force across the existent line electric resistance is minimal. i.e power transmitted is minimal. This means K is controlled in bang-bang operation. ( the end product of the series compensator is varied between the lower limit and upper limit ) This type of control is the most effectual for muffling big oscillations. Sustained oscillation below the cardinal system frequence can be caused by series capacitive compensation. It is called sub synchronal resonance ( SSR ) . Degree of series compensation is in the scope of 25 to 75 % . A capacitance in series with the entire circuit induction of the transmittal line ( including the appropriate generator and transformer escape induction ) forms a series resonant circuit with natural frequence fc = 1/2?vLC = fv Xc/X. If the electric circuit is brought into oscillation ( by some web perturbation ) so the bomber harmonic constituent of the line current consequences in a corresponding bomber harmonic field in the machine which as it rotates backwards comparative to the magnetic field produces an jumping torsion on the rotor at the difference frequence of f – iron. if this difference frequence coincides with one of the torsional resonance of the turbine generator set, mechanical torsional oscillation is excited, which in bend farther excites the electrical resonance. This status is defined as bomber synchronal resonance. Large generators with multi phase steam turbines which have multiple torsional manners with frequences below the power frequence are most susceptible to stand in synchronal resonance with series capacitance compensated transmittal lines. The series compensator is chiefly applied to work out power flow jobs. Fixed or controlled series capacitive compensation can besides be used to minimise to stop electromotive force fluctuation of radial lines and prevent electromotive force prostration. Series compensation is used to command to antagonize prevalent machine swings important transeunt stableness betterment for station mistake systems Highly effectual in power oscillation damping. However the operating and public presentation features of the two types of series compensator are well different.Approachs to governable series compensationTwo basic attacks: Thyristor switched capacitances and thyristor controlled reactors to recognize a variable reactive entree. Switch overing power convertor to recognize a governable synchronal electromotive force beginning. The series compensator is a reciprocal of the shunt compensator. The shunt compensator is functionally a controlled reactive current beginning which is connected in analogue with the transmittal line to command its electromotive force. The series compensator is functionally a controlled electromotive force beginning which is connected in series with the transmittal line to command its current. The map of the series capacitance is merely to bring forth an appropriate electromotive force at the cardinal Ac system frequence in quadrature with the transmittal line current in order to increase the electromotive force across the inductive line electric resistance and thereby increase the line current and the familial power. By doing the end product electromotive force of the synchronal electromotive force beginning a map of line current the same compensation as provided by the series capacitance is accomplished. However in contrast to the existent series capacitance the SVS is able to keep a changeless compensating electromotive force in the presence of variable line current or controlled the amplitude of the injected compensating electromotive force independent of the amplitude of the line current. The series reactive compensation strategy utilizing a exchanging power convertor ( voltage beginning convertor ) as a synchronal electromotive force beginning to bring forth a governable electromotive force in quadrature with the line current as per IEEE and CIGRE definition termed the Static Synchronous Series Compensator ( SSSC ) . The SSSC can diminish every bit good as addition power flow to the same grade merely by change by reversaling the mutual opposition of the injected Ac electromotive force. The rearward electromotive force adds straight to the reactive electromotive force bead of the line as if the reactive line electric resistance was increased. If the injected electromotive force is made larger than the electromotive force impressed across the unsalaried line by the sending and having terminal systems that is if Vq & A ; gt ; |Vs -Vr| so the power flow will change by reversal with the line current I = ( Vq & A ; gt ; |Vs -Vr| ) /Xc The SSSC can supply capacitive or inductive compensating electromotive force independent of the line current up to its specified current evaluation. The VA evaluation of the SSSC ( solid province convertor and matching transformer ) is merely the merchandise of the maximal line current ( at which compensation is still desired ) and the maximal series counterbalancing electromotive force. VA = Imax * Vmax. The control scope is uninterrupted from -1.0 p.u ( capacitive ) to +1.0 p.u ( inductive ) volt-amperes. In many practical applications merely capacitive series line compensation is required. One of import application is the coincident compensation of both the reactive and resistive constituents of the series line electric resistance in order to maintain the X/R ratio is high. At transmittal electromotive force degrees of 115,230 and even 340KV where the X/R ratio is normally low ( in the scope of normally 3 to 10 ) , a high grade of series capacitive compensation could farther cut down the effectual reactive to resistive line electric resistance ratio to such low values at which the increasingly increasing power demand of the line and associated line losingss and possible electromotive force depression would get down to restrict the catching active power. The SSSC with an appropriate District of Columbia power supply ( which could be powered from an accessible coach or from the Tertiary of handily located transformer ) would be able to shoot in add-on to the reactive compensating electromotive force, a constituent of electromotive force in anti-phase with that developed across the line opposition to antagonize the consequence of the opposition electromotive force bead on the power transmittal. In this manner by supplying coincident and independently governable compensation of both the reactive and existent electric resistance of the line in consequence an ideal reactive line can be created for maximal power transmittal. The line losingss I2R is still be dissipated by the physical line. However this debauched power would be replenished by the SSSC from the subsidiary power supply. The existent power compensation capableness could besides be used efficaciously in minimising loop power flows by equilibrating both the existent and reactive power flows of parallel lines. From the point of dynamic system stableness reactive line compensation combined with coincident active power exchange can besides heighten power oscillation damping. During the period of angular acceleration, the SSSC with suited energy storage can use maximal capacitive line compensation to increase the familial active power and at the same time absorb active power to supply the consequence of a muffling resistance in series with the line. During the period of angular slowing, the SSSC can put to death opposite compensating actions, that is, apply maximal inductive compensation to diminish the familial active power and at the same time supply the consequence of negative opposition ( i.e. a generator ) to provide extra active power for the line ( negative damping ) . In practical SSSC the electromotive force sourced convertor on the dc side is terminated by a finite ( and comparatively little ) energy storage capacitance to keep the coveted District of Columbia runing electromotive force. ( Remember that this District of Columbia capacitance is kept changed by the energy absorbed from the system by the convertor itself ) therefore the District of Columbia capacitance in consequence interacts with the Ac system via operating switch ( valve ) array of the convertor. This interaction may conceivably act upon the bomber synchronal behavior of a practical SSSC. The SSSC is based on the synchronal electromotive force beginning construct which is implemented by a electromotive force beginning convertor. WAVELETS ( A18 ) Ripples theory is the mathematical associated with constructing a theoretical account for a non-stationary signal, with a set of constituents that are little moving ridges, called ripples. ( A16 ) in the procedure of ripple transform the signal is non in footings of a trigonometric multinomial, but by ripple generated utilizing the interlingual rendition ( switch in clip ) and dilation ( compressed in clip ) of a fixed ripple map called the female parent ripple.

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3 paper Assignment Example | Topics and Well Written Essays - 500 words

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Nora Sakari - Case Assignment Example | Topics and Well Written Essays - 750 words

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Adult Learner Interview Assignment Example | Topics and Well Written Essays - 750 words

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Child Motivation in Literacy Research Paper Example | Topics and Well Written Essays - 5000 words

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Mandatory Arbitration Coursework Example | Topics and Well Written Essays - 500 words

Mandatory Arbitration - Coursework Example Given that I have a start up business on car detail, I cannot create a contract that with mandatory arbitration. This is because, mandatory arbitration requires one or more parties while in this situation there is only one party which is me. Secondly, having been a smart entrepreneur, I have been trading on used equipment in order to keep my expenses as low as possible. Since, I was ecstatic when I did find a carpet cleaning machine for vehicles on craigslist. When I drove for three hours to the outskirts of Kansas City, so that, I could pick up the machine that was for two thousand dollars The seller Sam Sneeky had made an advertisement to the effect that the machine had only been used for two times and was still in perfect condition. But, on returning to my shop, I was grossly disappointed on finding out that the machine wouldn’t even turn on. Since am so disappointed that I want Sam to refund my two thousand dollars. The best state that I would report my case to is Kansas in a court that enjoys the jurisdiction on this matter. This is due to the fact that, the case did arise in Kansas City. A number of legal issues are presented in the above highlight. For example, when I had made a decision to enhance my car detail business, I have settled on negotiating a contract with the some of the car rental companies. Given that, I can provide a detailed cleaning whenever any of the company is ready and willing to sell the vehicle. Having approached the ‘We Rent Cars’ company with this noble proposal, they did let me know that, whenever they hire any individual or company to work for them. They often demand that, a detailed contract be reached that outlines all the terms. For in stance, I should fill in detailed information about my service or company. The legal issue presented here is that, the agreement fails to bind since; it’s not formulated with the consent of

Sports Activities at School Essay Example for Free

Sports Activities at School Essay Introduction The aim of this report is to analyse why so many students aren’t motivated to do a lot of sports activities at school. A number of students and teachers were interviewed and their suggestions for changes to the methods are summarised. The problem * There aren’t a lot of different sport activities offered at school There don’t seem to be a lot of sports that can be played at school. Only a few sorts of sports are offered and that are football, that isn’t even weekly and a real competition, and softball. If these sports don’t fit you, you haven’t got a lot of opportunities to play sports at school. * Students don’t intend to sport a lot anymore Students aren’t known for their plesure of moving and sporting a lot. The electronics swallow a lot of their spare time, and they aren’t motivated to play sports in their leisure time, because it’s less exciting. Improving the situation What steps can be taken to improve the situation? I would recommend that teachers place more emphasis on increasing the different sorts of sports that are offered at school, in order to get students more motivated. When they are allowed to choose the sport that attracts them most, they will become more motivated. When students are playing a sport they enjoy, they will easily resist the instant tempation of their electronic games. Conclusion Students aren’t as motivated for sports as they should be. There aren’t enough sports activities offered at school, which leads to low motivation on the part of students. In my opinion there should be given more choices to the students what sport they want to practice. When they get to choose from sports they enjoy, they will get more motivated.

Ascorbic acid content of fruit juice Essay Example for Free

Ascorbic acid content of fruit juice Essay OBJECTIVE To determine ascorbic acid content in a sample of fruit juice by using titration method with 0.001M 2,6-dichlorophenolindophenol, C12H7O2NCl2. INTRODUCTION image00.png Structure of Ascorbic acid Ascorbic acid, the chemical term for vitamin C, are found naturally in fruits and green vegetables. It is a dietary requirement for normal metabolism, formation of collagen, wound healing, and tissue repair. Ascorbic acid is often used as an antioxidant to help prevent free radical damage in the skin, builds resistance to infection, aids in the prevention treatment of the common cold, and aids in the absorption of iron. Yet, vitamin C cannot be synthesized by the body, and needs to be ingested. A lack of vitamin C can cause abnormalities of the spine, scurvy, and a reduction in the ability of the body to heal wounds. The determining factors as to whether organic substances can be determined in an aqueous medium depend primarily on the functional groups that characterise the redox properties. The determination of ascorbic acid content is based on the oxidation of ascorbic acid to dehydroascorbic acid: C6H8O6→ C6H6O6 + 2e- + 2H+ image01.png The redox potential depends on the pH and without adequate buffering the pH at the electrode surface can be displaced by the oxidation reaction of the ascorbic acid leading to peak broadening. Vitamin C is found in fruit drinks such as orange juice and also other sources like vegetables, liver and kidney meat. Vitamin C in food can be destroyed by cooking, leaching out from fruits and vegetable during washing, and being oxidized when expose to the air. Thus, food that rich in vitamin C needs to be stored and prepared well. PROCEDURE 1. Standardization of 0.001M 2, 6-dichlorophenolindophenol solution. 25.00mL aliquot of ascorbic acid solution was pipette into a 100mL conical flask. 0.001M 2, 6-dichlorophenolindophenol solution is titrated until a faint colour persisted for at least 15 seconds. The molarity of the dye solution is calculated by the result obtained. 2. Ascorbic acid concentration of fruit juice is determined. 5mL of fruit juice was pipette into a 100mL conical flask. 10mL of 5M acetic acid, 5mL of acetone (prevent interference of SO2) and 30mL of water was added, then the mixture was allowed to stand for 5 minutes and titrated with 2, 6-dichlorophenolindophenol solution. 3. CuSO4 and bubbling to air. 2 flasks is set up and filled with 25mL of fruit juice in each flask. 1mg of copper sulfate is added to one of the flasks and both are put to bubbled air for 20 minutes. The titration is repeated at the completion of the 20 minutes of air bubbling. DCPIP is a chemical compound used as a redox dye. This dye is blue in base (DCPIP-) and pink in acid (DCPIPH) and the pink form can be reduced by ascorbic acid to a colorless form (DCPIPH2). image03.png Titration with 0.001M 2,6- dichlorophenolindophenol solution Reaction 1: DCPIP- (blue) +H+→ DCPIPH (pink) Reaction 2: DCPIPH (pink) + Ascorbic acid → DCPIPH2 (clear) +Dehydroascorbate If a drop of blue DCPIP dye is added to a low pH solution (pH4.0), it will turn pink (Reaction 1). If a suitable electron donor such as ascorbic acid is present in that solution, it will turn colorless (Reaction 2). When all of the ascorbic acid in the solution has been oxidized to dehydroascorbate, no more electrons will be available to reduce a drop of DCPIPH to the colorless form and the solution will remain pink (Reaction 2 will not take place). The end-point was a faint pink colour that persisted for 15 seconds. (http://www.bbc.co.uk/schools/ks3bitesize/sosteacher/science/45432.shtml) Acetic acid added in Step 2 (iii) and Step 4 of the method will reduce the oxidation of the ascorbic acid by lower the pH of the orange juice to retard the action of the enzyme polyphenol oxidase. If the pH is reduced below 3.0, the polyphenol oxidase will be inactivated. Acetic acid also reduces interference from any iron present, and thereby facilitates subsequent clarification of the extract. Since the ascorbic acid is not oxidized, it was existed in L-enantiomer form. Therefore, the L-enantiomer form of ascorbic acid was determined in this experiment. ( James , 1999 ) (http://ag.udel.edu/other_websites/foodworkshop/WSFWorkshop/Enzymatic%20Browning%20(Ch2).htm) image04.png From the experiment, the molarity of the ascorbic acid and the dye solution computed are 0.001134 mol/L and 9.8425 Ãâ€"10-4 mol/L respectively. Hence, the concentration of the ascorbic acid in the fruit juice is 3.27mg/100ml which is much more lower compared to the amount stated in the product label (Sunkist) in which the ascorbic acid content is 150mg/100ml. The high discrepancy between these two values might be due to the oxidization of ascorbic acid, which was exposed to the oxygen for a period of time due to the insufficient of apparatus in the laboratory. This can be improved by not exposing ascorbic acid to oxygen, metals, light and heat, as it can be oxidized easily. Therefore, it must be stored in dark and cold and but not in a metal containment. The mechanisms of ascorbic acids degradation is commonly due to the effect of metal ions and the presence or absence of oxygen. The rate of oxidative degradation of ascorbic acids is commonly proportional to the concentration of ascorbate monoanion (HA-), molecular oxygen and the metal ion. It is known that uncatalyzed oxidation is essentially negligible but the presence of trace metals in food are responsible for most of the oxidative degradations. The potency of metal ions in catalyzing ascorbate degradation depends on the metal involved, its oxidation state, and the presence of cheletors. For example, Cu(II) is about 80 times more potent than Fe(III) while te chelate of Fe(II) and ethylenediaminetetraacetic acid (ETDA) complex is about 4 times more catalytic than free Fe(III). (Fennema , 1996) In this experiment, the potency of copper (II) sulfate in catalyzing ascorbate degradation was tested. One of the conical flask with only fruit juice act as control. It is titrated with 44.70ml of DCPIP for oxidation to occur. On the other hand, another conical flask with fruit juice and 1 mg of copper sulfate titrated with only 11.70ml of DCPIP for oxidation to occur. It is proven that the presence of metal ions responsible for accelerates the rate of degradation of ascorbic acid in an air-saturated fruit juice as less DCPIP is needed. During the step 5, bubbling through air is applied to the ascorbic acid to enhance the oxidation of ascorbic acid by the catalyst, copper. If not, it will consume a lot of time before the reaction can take place. Advantages 2,6-Dichlorophenolindophenol served as a good electron acceptor. DCPIP is used as the titrant because it only oxidises ascorbic acid and not other substances that might be present and it acts as a self-indicator in the titration It is reasonably accurate, rapid, and convenient. Can be applied to many different types of samples. Disadvantages The end point of a titration for this reaction is difficult to ascertain due to the lack of complete decolourisation of the DCPIP. These methods are not specific or are not very sensitive. The reagent itself is not stable and needs standardization before use. If the sample solution is intensely coloured (fruit juice or syrup), end point detection will be difficult. Better choice for vitamin C According to the hypothesis, content of vitamin C in fresh fruit is suppose to be higher than commercial packet fruit juice. Due to a lot of processing, most of the vitamin C in commercial fruit juice are destroy. The fewer amounts of millilitres of juice it took to turn DCPIP from blue to clear, the larger the amount of vitamin C there was in the drink. Many of the commercial fruit juice are heavily fortified with vitamin C. Conclusion The molarity of the ascorbic acid and the dye solution computed are 0.001134 mol/L and 9.8425 Ãâ€"10-4 mol/L respectively. The concentration of the ascorbic acid in the fruit juice is3.27 mg/100mL which is much more lower than the ascorbic acid content of the label product (15 mg/100mL). this might be due to the oxidation of ascorbic acid. Ascorbic acid (vitamin C) is essential to humans. It is involved in the synthesis of collagen, which is the main constituent of skin, connective tissue, and the organic substance of bones and teeth. A deficiency of vitamin C results in a disease called scurvy. A quantity of 60 mg vitamin C per day is enough to prevent the disease, and this is the recommended daily dietary allowance (RDA). (http://a-s.clayton.edu/ptodebus/CHEM1211/lab/experiments/Vitamin%20C/Vit%20C%20titration%20v1.doc) REFERENCES Ceirwyn S.James , 1999, Analytical Chemistry of Foods , An Aspen Publications , page 138,139 Owen R. Fennema, 1996, Food Chemistry, Third Ed., Marcel Deeker,Inc., pg 561,562 http://www.bbc.co.uk/schools/ks3bitesize/sosteacher/science/45432.shtml http://www.ncbi.nlm.nih.gov/entrez/query.fcgi?cmd=Retrievedb=PubMedlist_uids=7016874dopt=Abstract http://darwin.nmsu.edu/~blyons/BCHE_397/VitaminC.htm http://www-saps.plantsci.cam.ac.uk/docs/vitc.pdf http://journals.tubitak.gov.tr/chem/issues/kim-02-26-5/kim-26-5-8-0106-6.pdf#search=Determination%20of%20ascorbic%20acid%20by%20DCPIPIntroduction http://www.naturalhub.com/natural_food_guide_fruit_vitamin_c.htm http://ag.udel.edu/other_websites/foodworkshop/WSFWorkshop/Enzymatic%20Browning%20(Ch2).htm http://a-s.clayton.edu/ptodebus/CHEM1211/lab/experiments/Vitamin%20C/Vit%20C%20titration%20v1.doc

Critical Analysis: Js Mills Defense Of Free Speech

Critical Analysis: Js Mills Defense Of Free Speech Reading J.S. Mills Defense of free Speech was a great deal of interest, education and increment of knowledge to me. I was so thrilled by his choice of words and his mechanism of analyses. It is of a great pleasure and of a great honor to me to have this opportunity to analyze and asses critically this very write up. According to J.S. Mill we see that freedom means: a) the freedom of thought, religion, speech, b) the freedom of tastes, and the freedom to plan the life in own way, and c) the freedom of assembly. Thus, Mills ideal is a possible freedom of every person for the purpose of the whole society prosperity. Mill even stated that the state should take care of own people and dont try to increase the value of own citizens with the purpose of making them obedient instruments of own projects implementation. Mill defends the right of individuals to live as he pleases. According to Mill we see that each of us is self-sufficient with respect to own health, as bodily, mental and spiritual. Social growth is the result of all the various individual initiatives. Clearly, everyones freedom finds its limits in the freedom of another. Individual shall not infringe upon the interests of others or a certain group interests, which by law or acquiescence should read as legal. He was forced to accept their re sponsibilities and the necessary sacrifices for the protection of society and its members from any sabotage and unrest. Freedom in Mills mind is the public good. Because a free person is more productive than not free person and has a better chance of happiness, advocated by the time Mill in his work. Now we have a reason to suspect that the freedom is the condition for further evolution of the individual and, more importantly, the collectivity development, i.e. culture-and sociogenesis. Survival of the human species depends on how human can think, and on his ability to modify the form of collective existence. It is possible to say without exaggeration that Mill first felt in what direction the further process of universal evolution goes or even where it should be directed for the purpose of its future continuation. It cannot be overemphasized the importance and necessity of freedom in life. It is our right to exercise our freedom. The freedom of speech in consideration here most especially is definitely needful, useful and should be unutilized or underutilized by individuals in recent times. This is one of the bases of civilization. Thinking about the liberty of thought and discussion on the governmental level we see that Mill was worried by the state censorship of individuals behavior more as a danger rather than the topic of the day. In old Europe the state interference in individuals life and the freedom of expression has not been true until Mills times. It had a place not because of big governments sympathy to personal freedom, but because of the so-called technical problems; it means that the government was still focused on other prerogatives. No one was aware of how widely it may be areas of potential individual freedom, because life was a meager content, and finally the prerogative of th e regulation of morals then belonged to the church and community in those times. First of all, I would like to have a short look at the prehistory of the book On Liberty, because it will help me to be more professional in further analysis of Mills thoughts. The book On Liberty Mill co-wrote with his wife in 1859. The author has predicted a long life to this his work by himself and thought that exactly On Liberty will survive the rest of his creations. Mill does not get tired to stress the importance for man and society as a whole in maximum diversity of characters and full freedom of human nature in a myriad of contrasting directions. Freedom does not only protect from the tyranny of power, it insures also against such kind of tyranny as the tyranny of prevailing opinion and feeling of general social trends, ideas and habits It seems to me that the freedom limits the penetration of legitimate collective wisdom of individual independence. On my opinion, treatise On Liberty is one of the fundamental works of liberal thought, as it provides the rationale unit of society, where the freedom of speech, the freedom of thought, the freedom of private life (including economic freedom) and the freedom of social and political associations were discussed. According to Mill the above numerated freedoms would become a reality in democratic governance. However, in a representative board (it is assumed in a democracy) are possible the tyranny of fashion and the tyranny of the majority. Mill considered that in a society the law and public opinion should compel people to perform certain behavioral rules. In this case the most important question is about the true essence of these rules. In every era and in every country the dominate rules and laws are perceived as unquestionable and self-evident by people. Meanwhile, this almost universal illusion is one example of the magic influence of habit. In all societies, wrote Mill, there are several principles that play an important role in the formation of behavioral rules that are imposed by the law or public opinion in the first and the foremost rate it is the interest of the ruling class. The majority of public morality is conditioned to the interests of the ruling class where one class dominates the other. The second principle, which plays an important role in the formation of the behavioral rules, lies in cringing and in desire to please masters or gods. In addition, the moral concepts were also affected by the public interest. The fact that there are in accordance to our views the presence of good government and bad government might not be one without error. This was critically emphasized in Mills write up. Mill (1859) stated that The best government has no more title to it than the worst. It is as noxious, or more noxious, when exerted in accordance with public opinion, than when in opposition to it. If all mankind minus one, were of one opinion, and only one person were. The opinions we bear always make us who we are. When we see the government as a bad one, it makes us a people who are led by a bad government. An opinion held by a majority or by people in power or even any individual could be erroneous. The same very opinion held by a group of people as truth and correct might be total held by the other group as completely false statement and completely incorrect. The presence of change cannot be overemphasized and does not change as different generation passes by. It is a true saying that as new generation comes, there comes a new way of life, way of thinking and many other improvements or non-improvements in processes. There have been many reformations and changes in the system of governance of any country of the world from the year 1678 to 2010. What does this point to? This means that for a rational critic to rationally criticize any government there should be detailed consideration of the time, setting and location of the criticized government. Nevertheless I still want to stipulate that there still holds some general view on the basic things expected of a government to offer its citizens and this is the freedom of speech. According to Van Belle (2000) we see that For the most part, efforts to defend press freedom have been equal to the task. In fact, if the gradual growth of press freedom around the world is any indicator, the defense an d pursuit of press freedom might even be considered to be slightly more robust overall than the effort to censor. If you mark the beginning of the fight for press freedom with the arguments for unlicensed printing put forth in John Miltons Areopagitica, scholars, philosophers, and politicians have been fighting for the freedom to publish free of government control for three and a half centuries. To make our points approved is an enviable feature and character worthy of emulation which establishes our opinion as a statement of truth. I will not but also comment on this point as it evokes the feeling and awareness to each of us and most especially the government to allow great room for criticism and evaluation of the views and beliefs held. Mill holds the view that our views and opinions despite the fact that they are value statements should have enough safe grounds of defense to it. We should always weigh our statements, opinions and views in order that they should be worthy enough for anyone to rely on. In the issue with misunderstand with a great man once lived-Socrates by the law givers in his time, was of course an act of intimidation, non-civilization and inhumanity. There is a great disharmony between the then existent way of things, judgments and opinion which nowadays is considered as a terrible one. According to Mill (1859) we read that Mankind can hardly be too often reminded, that there was once a man named Socrates, between whom and the legal authorities and public opinion of his time, there took place a memorable collision. There has been in history the execution of great men who made great differences in life only because of disagreement with what they believe by the then governing authority. It is of course not an act of justice, not an act that depicts the presence of freedom and grants full power to the government without a full rational basis. Holding of opinion is not just enough but being able to defend it to some degree is the importance of this opinion thereof. Mill (1859) wrote in accordance to previous statement that There is a class of persons (happily not quite so numerous as formerly) who think it enough if a person assents doubtingly to what they think true, though he has no knowledge whatever of the grounds of the opinion, and could not make a tenable defense of it against the most superficial objections.. In existence are yet individuals who think one should only listen to them and believe all they say. Any argument with them evokes annoyance and possibly some punishments on the arguer in a case when they are the governing body of the very societal setting. There is great truth in this in that for civilized people the weapons of battle are words; well-constructed, that portrays opinion and substantiates it and able to prove and defend it beyond all reasonable thoughts, but not to involve any physical battles. T he battle of words is a constructive civilized way of life aimed at confirming how strong a value statement could be and should even not involve any sort of punishment. The freedom of expressing ones belief is good but more especially there should also be concomitant knowledge of the opposing belief in order to rationally express the basis of this belief. The greatness you have as a propagator of a certain belief lies in your knowledge of an opposing beliefs facts and knowing and expressing a rational assertion of superiority over the opposing belief. It is political as well as rationally worthy to discuss opinions for the complete exposure of its foundational basis and meaning. Analyzing Mills position we see that Mill opposed to individual self-restraint, to restriction of individuals freedom from the societys side, and also he opposed to restrictions on freedom of the individual and society from the states side. It is obvious that Mill was well aware that the joint lives of individuals cannot exist without any restrictions of freedom. Mill said that the freedom of one ends where the freedom of another begins. The boundary of the previous Mills statement, of course, is mobile and conventional and, incidentally, is supported in the free discussion. Mill in his treatise On Liberty provides some clarification, as this border should be determined. But wherever it took place, Mill insists that the freedom is the norm, and its limitations are rationally justifiable exceptions or pathology. An individual is entitled to any vices and f ollies, if it will not cause harm to anyone except himself. Moreover, the scope of conduct, harmless to others, in Mills explanations is much extended. If the individuals behavior provokes a moral outrage and aesthetic revulsion at the neighbors, then shrugs Mill, let them leave their feelings with themselves: the freedom of public interest and public good is more important than their feelings. It could be named Mills rationalization of tolerance. One can easily agree with him that many who profess the Christian fate lack the deep knowledge of its foundation. Mill (1859) was interested To what an extent doctrines intrinsically fitted to make the deepest impression upon the mind may remain in it as dead beliefs, without being ever realized in the imagination, the feelings, or the understanding, is exemplified by the manner in which the majority of believers hold the doctrines of Christianity. To what end will it then be in general to profess something you have no full understanding concerning. It pertains not only to Christianity but other spheres of life. The concept of the whole truth is one that is farfetched especially when considering the extent of truth in the opposing doctrines. Man is not an island and his existence knowingly or unknowingly is influenced by the existence of other people, their thoughts, activities and their way of life. It of course also freely given to man, his existence here on earth and much more especially important is also his freedom to influence his surroundings. He influences all components of his surroundings and this includes the people in it, the animals that exists in it and even the climate. If our notions will actually influence others, it will do so only when it is well grounded such that the erroneous nature of it will be near zero. In the society where the lives of men and women are being led by other men and women, there should be presence of quality and capability in these leaders. It is of course worthy and respectable the fact that leaders act, make decisions, enact laws and even enforce punishments on those they believe defaulted the law, there should also be a justifiable explanation for their actions and steps. Adequacy and competency in leadership and politics therefore not only includes actions which of course should be appropriate ones but also should include their ability to communicate their decisions, intention and even their actions to those they lead. Conclusion I agree to a great degree on the write up because of expressive power portrayed concerning the fact that truth is a complex concept that takes almost eternity to completely rationally evaluated. It is worthy of understanding then that since governing powers, humans and group of individuals are bound to be erroneous, there is only a major demand on rationally expressing the reasons of actions, views, decisions and doctrines beyond all reasonable doubts that could arise against it. Lets remember that Darwin showed the man that he was an animal in some way. Mill explained how this animal is different from all others. Unlike other animals, man is able to manipulate by himself choose the lifestyle and create own character. But the person needs freedom of thought and action for the purpose of this natural human ability has been realized and it means that this freedom must be provided to the person as soon as possible. Thus, connecting Darwins and Mills works we see that their two fundamental books were published almost at one time and they were two remarkable documents of emancipation of the human person, deeply connected with each other by a common theme, as is clearly seen in our time. Darwin explained individuals retrospection on the evolution stage, and John Stuart Mills traced prospects of human further development. Machizukuri in Japan: Overview and Analysis Machizukuri in Japan: Overview and Analysis Planning in Japan has existed more than a hundred years ago (Evans, 2010) and Machizukuri is one type of planning in Japan. By the beginning of 1980s, the term Machizukuri has been extensively used (Evans, 201), but its concept is claimed, to be changing from time to time and its term is often ambiguous as it is usually used base on peoples own understanding in many different situation (Watanabe, n.d). Therefore, the origins of Machizukuri need to be explored in order to be able to determine how the concept of Machizukuri is shaped and indirectly determining the characteristics of Machizukuri that vary it from the other types of planning in Japan. Machizukuri is a type of planning which is closely related to peoples desire in creating a livable and sustainable city (Evans, 2014). It is a type of planning where the local residents work together or in cooperation with the government by doing variety of activities to make their place attractive and appropriate to live in (Evans, 2014). Machizukuri is a collaboration of two different terms Machi and Zukuri where Machi can be defined as community, but also often means small area rather than large area and Zukuri is defined as making or planning (Watanabe, 2007). In general, Machizukuri can be understood as an attempt to improve or sustain the city with the involvement of the local residents in the planning. The activities of Machizukuri include from meeting, involvement of the resident in policy making and so forth (Watanabe, 2006). The terms Machizukuri is claimed by many to be vague and ambiguous because many have used it as a catchword. However, it is not until the early of 1960s, this term started to be adopted in the field of urban planning (Evans, 2010). As an example, the term was used in Kobes municipal and ward social councils in 1965 as a slogan (Evans, 2010). However, it is very difficult to determine when and where actually Machizukuri originated, as in the past it was used often as a catchword. Watanabe (n.d) agreed with this and he pointed out that Mr. Kan Hideshima had discovered Dr Naoto Nakajima used the term Machizukuri without accompanying the actual activities in 1947, and Dr Naoto can be one example where the term Machizukuri was used as a catchword. On the contrary, Professor Shiro Masuda had used the term Machizukuri in his journal in 1952 (Watanabe, n.d). This is believed to be the earliest work that had used the term in relation its actually activity. Although he did not describe the term precisely, he used the term in relation to peoples movement. The term Machizukuri was used in his journal about Kunitachi, where at that time, was in the middle of peoples movement due to the turning of quiet and decent college town into unpleasant place for residents to live in. Some activist called their movement Machizukuri. (Watanabe, n.d) This is believed to be the birth of the term Machizukuri with refers to the activity. However, the concept of Machizukuri itself was ambiguous. In between 1960s to the end of 1970s, several factors had taken place and indirectly had helped in shaping the concept of Machizukuri (Evans, 2010). These factors are not just favor the establishment of Machizukuri but also help to develop Machizukuris concept. The first factor is the influence of the citizens movement. Citizens movement shows that the citizens are concerned and conscious about the city they lived in. This consciousness may leads to their involvement on the planning of the city, hence, resulted in Machizukuri as citizens participation is the key factor of Machizukuri (Evans, 2010). To further elaborate, in 1950s to 1960s, Japan was focusing towards the development of its economy and industries which had resulted in a dreadful pollution. This had triggered a wide environmental protest throughout Japan over the 1960s due to house shortages, traffic congestion and environmental arose that threaten residential life of the local citizen (Watanabe, 2006). The environmental movement by the local resident has indirectly led to the popularization in local participation. This movement had given way for the awareness of citizens right and growth in citizen consciousness. The second factor is the decentralization of planning powers resulted from the 1968 New City Planning Act. The replacement of 1919 city planning act with 1968 new city planning act can be considered as step towards Machizukuri. This is because the new act did mark an important step for public involvement in the planning process (Ishida cited in Evans, 2010). As stated by Evans (2010) that other important features of the 1968 New City Planning Act include the introduction of public participation. By encouraging public participation, this will provide opportunity for Machizukuri to grow and take place. Thirdly is the slowing down of urbanization also leads to Machizukuri. This can be seen from the slowdown of urbanization due to the oil crisis in 1973, which resulted in transition of a high-growth to low-growth economy in Japan (Evans, 2010). Many changes happened after the worldwide oil crisis, this caused people to stop migrating to the city, and some went back to where they came from. According to Alden and Abe (cited in Evans, 2010), net migration to metropolitan regions of Tokyo, Osaka and Nagoya was almost zero during 1975 to 1980. However, the central government introduced urban system where the local areas within a city prepare its own plan (Evans, 2010). By giving the role this give the local to are more involve in the planning of the local area, hence may lead to Machizukuri, as its not only the government will be handling the planning the city but also the locals. These factors are mostly had given the opportunity for the participation of the citizens and by opening opportunity for citizens participation in planning, this will give chance for the Machizukuri to take place. Therefore, these kinds of events can be considered to be the main driving forces for the establishment of Machizukuri. Although Machizukuri is often seen as the involvement of citizens in the planning, it has other distinctive characteristics, which identify the actual Machizukuri. Consequently, these characteristics vary Machizukuri from other types of planning. The term machi in Japanese term according to Watanabe often opposes the large area. Furthermore, Vogt (n.d.) described Machizukuri to normally restricted to smaller scale projects such as a park, residential neighborhood and so forth. For example in Mano district with population of only 4,739 people (Evans,2010). and also Machizukuri in Aneya lane which is a narrow 700m long street in the centre of Kyoto (Hein, 2008). This is unlike other types of planning which usually cover large scale such as Toshi Keikaku where according to Vogt (n.d) it deals with the improvement of city or larger parts of it. This can be said to be one of Machizukuris characteristics where it is focusing normally on a small-scale area. The change resulted from Machizukuri is often claimed to be slow and gradual. This can be demonstrates in a district called Mano. This district suffered from pollution and associate health problem in 1960s which led to formation of residents anti-pollution campaign. As a result from this Machizukuri school took place in 1970s where this school consists of lectures and workshops on topics related to residents campaign. In addition, Manos residents had drew up a machizukuri plan where it is a whole plan for Mano and consist of their vision, and ways to achieve this. Twenty years since, the appearance of Mano changed significantly. (Evans, 2010). This can also be seen on Sanjo Machizukuri, it took over 20 years for the Machizukuri to transform a declining wholesale area to an attractive place for shopping or dining and so forth (Hein, 2008). This is another characteristic of Machizukuri, where the change is rather slow, this is due to revitalizing a local area without uprooting the loca l population, therefore, it is incremental. Machizukuri is also seen as a method that focusing on the soft aspects of planning unlike the traditional town planning which is more towards the hard aspect such as roads and other phyical infrastructure (Evans, 2010). Machizukuri may include the hard aspect as well but it emphasis more on soft aspect such as upgrading an area. This can be seen in Sanjos Machizukuri, Kyoto, where the centre of its commerce has an unpleasant appearance. Therefore, in this case, it focused on the economic and social renewal of Sanjo Street, and this indirectly had dealt with the environmental problem (Hein, 2008). In conclusion, Machizukuri is a concept which did not understand very well by many in the previous years. Determining the origins and identifying its characteristics helped in understanding and shaped the actual concept of Machizukuri. Although, it is difficult to really determine the actual origin of Machizukuri, but the term itself has been used since the 1940s and its concept have been shaped by several events between 1960s to 1970s. Furthermore, Machizukuri has its own characteristics, which represent its peculiarities from other planning. References: Evans, N. (2010). Machi-zukuri as a new paradigm in Japanese urban planning: reality or myth?. Japan Forum. [Online] 14:3 (2002). p. 443-464. Available from: http://www.tandfonline.com/doi/pdf/10.1080/0955580022000008745 [Accessed: 8th March 2014] Evans, N. (2014), Community Planning lecture notes distributed in Urban Japan at Kings College London, London. on 6th March 2014 Hein, C. (2008) Machi: Neighborhood and Small Town The Foundation for Urban Transformation in Japan. Journal of Urban History. [Online]. Available from http://juh.sagepub.com/content/35/1/75 [Accessed: 8th March 2014]. Vogt, S. (n.d.) From Toshikeikaku To Machizukuri Urban Planning In Tokyo With Special Reference To The Participation Of The Residents. [Online]. Available from http://www.linkclub.or.jp/~erisa-25/kosakuin/warehouse/silke01.htm [Accessed: 18th April 2014] Watanabe, S. J. (n.d.) The Historical Analysis of the Kunitachi Machizukuri Movement: Its Nature and the Role of Professor Shiro Masuda. 15th International Planning History Society Conference. [Online]. Available from: http://www.fau.usp.br/iphs/abstractsAndPapersFiles/Sessions/36/WATANABE.pdf [Accessed: 8th March 2014] Watanabe, S.J. (2006) ‘Machizukuri in Japan: a historical perspective on participatory community-building initiatives’, in Hein, C. and Pelletier, P. (eds) Cities, Autonomy, and Decentralization in Japan,[Online] London: Routledge, pp.128-138. A vailable from: http://web.a.ebscohost.com/ehost/ebookviewer/ebook/bm[emailprotected]sessionmgr4001vid=1format=EBrid=1 [Accessed: 12th March 2014] Watanabe, S.J. (2007) ‘Toshi keikaku vs machizukuri’, in Sorensen, A. and Funck, C. (eds) Living Cities in Japan: Citizens’ Movements, Machizukuri and Local Environments, [Online] London: Routledge, pp.39-55. Available from: http://web.a.ebscohost.com/ehost/ebookviewer/ebook/bm[emailprotected]sessionmgr4001vid=1format=EBrid=1 [Accessed: 12th March 2014]

The Panopticon Essay example -- Panopticon Papers

The Panopticon There have been , since the time of the Enlightenment, two distinct models for disciplinary institutions. Both of these models may be seen in the form of prisons. The contemporary ideal of the institutions derives its form from Bentham's Panopticon. In the period shortly following the age of Enlightenment, Bentham, an economist by trade, began to critically evaluate the disciplinary institutions of the day. Seeing that the model of the prison could be characterized as a form of discipline-blockade, he set out to improve the functionality of the prison as well as other institutions. Being an economist, Bentham saw that these institutions were not functionally productive. In describing the discipline blockade form Michel Foucault writes that it is, "turned inwards towards negative functions: arresting evil, breaking communications, suspending time."(209, Discipline and Punish) Now although this may seem befitting of criminal behavior, there is another disciplinary model which, when emp loyed, will achieve far greater results than that previously described. This new form is termed a, "discipline-mechanism" by Foucault.(209) This mechanism is not limited in practice to prisons, its widespread use can form a disciplinary society through its employment in the minute institutions of society. Its deployment will create a disciplinary society where power is not accumulated but is made functional and useful in maintaining societal discipline. However, before singing the praises of this new mechanism, it would be beneficial to analyze the pre-existing forms of discipline and how they lead to this new model. Also, it would not be wise to readily accept this panopticism without realizing the social ramifications of this n... ..., cause some uneasy feelings in those citizens in non-disciplinary spaces where they feel autonomous. The notion of being constantly surveilled and coerced begs the question: if humans are so subtly coerced, do we really have the freedom to defy that coercion? Where has that freedom gone? Panopticism is a very useful tool. However, when diffused into society's non-disciplinary spaces it may create tension and hostility. This is not to say that this tool should not be used but that it should possibly have boundaries and limitations. Society should not revert to the blockade to compensate, but should recognize the very subtle ways in which we are influenced in our decisions in order to make decisions which benefit our own interests and not those of the power structure. Works Cited: Foucault, Michel., Discipline and Punish, 1977. Random House, Inc., New York.

The Media Dumbs Us Down Essay -- The Dumbing Down of America

The rise of media in our society has many effects on the consumers of the media. Many people propose the question: is this media making us dumber? Today there are a lot more forms of media available to people today. Through the media outlets of television and news, internet and user-generated content, and social media, people have many options as to where they receive their media. As a whole, the mass media dumbs down society, through their attempt to keep up with the changing of times and reach large masses of people. It is up to the consumer of the media what type they want to partake in. How do media compete in such an environment? The only way to compete is to go with it. To become it, and to help it. New forms of mass media is happening, will happen, and will not stop because we are a constantly changing society. The media tries to put a new spin on media that combines older media techniques with a new more advanced form of media that attempts to reach all of society. Even tho ugh they are effective at reaching mass crowds of viewers, and reaching people who may not have ever engaged in issues, they dumb down society by limiting the thoroughness of information presented. The dumbing down is usually applied as a derogatory term that refers to the simplifying of a subject towards the lowest common denominator. Americans consume large amounts of media. The average American spends half or their day watching hours of television, or listening to some sort of mass media. According to Shachtman author of The Inarticulate Society: Eloquence and Culture in America, â€Å"most Americans watch thirty hours of television a week, or 1,550 hours a year, listen to the radio 1, 160 hours a year, spend 180 hours a year reading some part of a ne... ...al_media_stats_kagan_fisch_mcleod Carr, N. (2008, Jul. - Aug.). Is google making us stupid?. The Atlantic, 1. Retrieved February 14, 2012, from http://www.theatlantic.com/magazine/archive/2008/07/is-google-making-us-stupid/6868/ Shachtman, T. (1995). Extracurricular Educators. The inarticulate society: eloquence and culture in America (pp. 95-142). New York: Free Press. Sommerville, C. J. (1999). How the news makes us dumb: the death of wisdom in an information society. Downers Grove, Ill.: InterVarsity Press. Wolf, M. (2007). Proust and the squid, the story and science of the reading brain. New York, NY: Harpercollins. YDSTIE, J. (2007, June 16). Does the internet undermine culture? : NPR. NPR : National Public Radio : News & Analysis, World, US, Music & Arts : NPR. Retrieved February 10, 2012, from http://www.npr.org/templates/story/story.php?storyId=11131872

Poetry Speech Essay

Good morning everyone, thank you fellow poetry lovers, for taking the time out of your Sunday afternoon to come and show your appreciation for fine Australian poetry. The two poems that I would like to share with you today in relation to Multicultural Australia are Fourteen Poor men, by Mary Gilmore, and Migrants by Margarret Scott in regards to multicultural Australia. I have a great love for not only these poems, but the poets also. Both Scott and Gilmore played a significant role in contemporary Australian poetry. Gilmore especially, she was a truly amazing woman and is one of the great  figures of Australian social history and literature. I have already mentioned that I have a great love for both of these poems, and you are probably wondering what is so special about them? Time for me to help you see why they are so amazing. Both of these poems are telling the audience a story of personal experience. However, the poets use different poetic structures to convey their message. Fourteen Poor Men is written as a lyrical, where as Migrants is written in ballad form. Let me briefly shed some light onto each of the poets, and their backgrounds, which might help you all to have more of an  understanding into some of the impacts on their writing. So first of all, let’s start with Mary Gilmore. I could talk about this woman for days, because she did so many amazing things in her life. I guess that the quickest way that I can get across to you just how much she did, is by telling you about her column in the Australian Worker, which she remained editor of the Women’s page from 1908 right up until 1931. Through her column, Gilmore campaigned for many different social and economic reforms, such as the women’s vote, child endowment, the relief of the poor, old age and invalid pensions and the just treatment of Aborigines. Now moving onto to Margaret Scott. The basic background behind Scott, is that she migrated over to live in Tasmania, from Bristol in the UK. Now that you have an extremely brief idea of each of the cultural aspect behind each author, I will now move onto the part that you are all here for. The poems. Firstly, I am going to deconstruct the more gritty of the two, Migrants. The title is a bit of a spoiler, and basically describes what the poem is obviously about, migration from the UK, to Australia. A poetic technique that is repeatedly used in this poem, is personification. It is used quite a bit in the first stanza.  Ã¢â‚¬Ëœthe liner’s arid gaiety, thirsting For roots and cover, hungry for the solid fare’. The reason that Scott does this is to try and convey to the audience that on her journey over from the UK, she is seeming to notice the way that everything around her is feeling or acting, yet in the first stanza, she doesn’t really say how she is feeling much at all. She lets the audience know of her personal fear in stanza 2, where less 1 1 [Type text] [Type text] [Type text] Kyah Fry personification is used, and more of her own emotions come through. Personification being the main poetic device in Migrants, the most  obvious technique in Fourteen Poor Men is allusion. The reason for this, is because you, the audience, are required to have a basic knowledge of Australian history, to be able to deconstruct, and make sense of this poem. Once you pick up that the main technique used in this poem is allusion, you can look at the poem in a different light altogether. If you read into the poem deep enough, you could argue that the reason Gilmore used this technique so much (Need a better word choice for ‘so much’), is because she wants the reader to understand that you must have some sort of knowledge of your  own countries historical events and what has scoupled us into the country and society that we are today, to be able to even remotely understand someone else’s culture. Once again, thank you all so much for taking time out of your Sunday afternoon to come and learn more about fine Australian poetry. I hope that I have given you an insight into the poems that I discussed today, in regards to Multicultural Australia, and how is has progressed. I hope that I have been able to confirm your love for Australian poetry, and made you even more passionate. Have a great afternoon everyone, and feel free to ask me questions after the meeting.   

Financial Aid is Not Always the Answer Essay

The United States is known for getting involved in affairs that does not concern them all in the name of foreign policy. Nonetheless, its stance regarding its foreign policies have undoubtedly helped other nations especially those economically-challenged at the same time serving the US’ own interest. However, its policy in relation to Armenia and the so-called Armenian Genocide is nil to the least. As it is the United States’ aim to help Armenia, it has not yet officially recognized that the Armenian Genocide indeed occurred. Admittedly, democracy in Armenia is still a work in progress and it still has a long way to go especially now that elections are set this year. The United States despite its hesitation to fully acknowledge the atrocities committed by the Turks in 1915 and even until now against the Armenians, can nevertheless help in aiding Armenia and put a stop to the Armenian genocide. There is no easy way but to go head on. The first step would be to appoint and send an Ambassador that fully knows and understands the situation and plight of the Armenians. When John Evans, Ambassador to Armenia used the word â€Å"genocide† in public to describe the deaths of some 1. 2 million Armenians at the hands of the Ottoman Turks, this prompted a controversy that eventually cost Evans his job. Although none of the Ambassadors, other than Evans has affirmed and recognized the Armenian genocide during Senate confirmation hearings, it is imperative that the members of the diplomatic corps or nominees for the ambassador post must recognize and understand as well as refer to the Armenian genocide. Once this is done, other forms as well as policies of aiding will soon follow. Nonetheless, it cannot be denied that despite the aids sent by the United States, totaling to $75 million seemed to be not working at all. In fact, instead of going back to their national homeland, Armenians have left the country, including the 30 percent of its working population. The country is wrought with corruption and poverty and despite the immense aid provided from foreign sources, the country seems like it has just recovered from the genocide. Hence, in order to help the Armenians, change must start from within the country because admittedly even if foreign aid would still continue, it would still be useless considering that the money for aid sent is not used for the growth of the country. The United States has supported the Georgians and the Ukrainians in their quest for change in their respective countries. If it will support, even encourage the Armenians in its quest for a revolutionary and peaceful change, through its policies, perhaps it could help the Armenians who are still languishing in poverty and corruption. Therefore, the financial aid that it is providing for the Armenians is not the way to aid the Armenians and the victims of genocide. It is to help them shape their internal policies and shape the country into a clean and habitable homeland. The bottom line for this is: if we really want to help the Armenians and the victims of genocide, then it is imperative that we recognize what happened in 1915 as it is – genocide in the least. The Armenian Genocide undoubtedly has prompted the first large-scale international human rights movement in the United States and financial aid is not just enough, we have make sure that this does not happen again, not only in Armenia but in other countries as well to which the United States has vested interests.

Financial Environment and Interest Rate and Inflation

An Assignment of Business Finance Course Code: FIN -2101 Submitted To: Md. Monzur Morshed Bhuiya Associate Professor Department of Finance Jagannath University, Dhaka. Submitted By: Md. Mazharul Islam. Group Representative of Finance Interface B. B. A, 3rd Batch (2nd Year, 1st Semester) Session: 2008-2009 Department of Finance Jagannath University, Dhaka. Date of Submission: 25-10-2010 Department of Finance Jagannath University 1|Page 1 Sl. No. Name 01. Md. Mazharul Islam. (Group Representative) 02. Khadizatuz Zohara. Roll No. 091541 091526 Department of Finance Jagannath University 2|PageTable of Contents Sl. No. 2-1 2-2 2-3 2-4 2-5 2-6 2-7 2-8 2-9 2-10 2-11 Contents Problems Yield Curves Yield Curves Inflation and Interest Rate Rate of Interest Real Risk-Free Rate, MRP and DRP Exam-Type Problems Expected Inflation Rate Expected Rate of Interest Expected Rate of Interest Interest Rate Interest Rate Expected Rate of Interest Ending Part Formula and Necessary Illustration for Calculat ion Summary of the Assignment Page No. 5 6 7 9 10 12 13 14 14 15 16 17 18 Department of Finance Jagannath University 3|Page The Financial Environment: Interest Rates Problems 2-1:Suppose you and most other investors expect the rate of inflation to be 7 percent next year, to fall to 5 percent during the following year, and then to remain at a rate of 3 percent thereafter. Assume that the real risk-free rate, k*, is 2 percent and that maturity risk premium on treasury securities rise from zero on very short-term bonds ( those that mature in few days) by 0. 2 percentage points for each year to maturity, up to a limit of 1. 0 percentage point on five year or longer-term T-bonds. a. Calculate the interest rate on one, two, three, four, five, 10 and 20 year Treasury securities, and Plot the yield curve. .Now suppose IBM, a highly rated company, had bonds with the same- maturities as the Treasury bonds. As an approximation, plot a yield curve for IBM on the same graph with the Treasury bon d yield curve, (Hint: Think about the default risk premium on IBM’s long-term versus its short-term bonds. ) c. Now plot the approximate yield curve of Long Island Lighting Company (LILCO), a risky nuclear utility. Solution 2-1: Requirement ‘a’: Expected Annual Inflation Rate 7% 5% 3% 3% 3% 3% 3% Real Risk-free Rate (k*) 2% 2% 2% 2% 2% 2% 2% Average Expected Inflation Rate or Inflation Premium (IP) = 7% 1 =7% 2 = (7%+5%) ? 2 = 6% 3 = (12%+3%) ? 3 = 5% 4 = (15%+3%) ? 4 =4. 5% 5 =(18%+3%) ? 5 = 4. 2% 10 =(21%+3%? 5) ? 10=3. 6% 20 =(36%+3%? 10) ? 20=3. 3% Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Average Nominal Interest Rate = k* + IP 9% 8% 7% 6. 5% 6. 2% 5. 6% 5. 3%Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Maturity Risk Premium (MRP) 0. 2% 0. 2%+0. 2% =0. 4% 0. 4%+0. 2% =0. % 0. 6%+0. 2% =0. 8% 0. 8%+0. 2% =1. 0% 1. 0% 1. 0% Department of Finance Jagannath University 4|Page And Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond The yield Curve: + 9% + 0. 2% 8% + 0. 4% 7% + 0. 6% 6. 5% + 0. 8% 6. 2% + 1. 0% 5. 6% + 1. 0% 5. 3% + 1. 0% Interest Rate (k) 9. 2% 8. 4% 7. 6% 7. 3% 7. 2% 6. 6% 6. 3% 10. 5 10. 0 9. 5 9. 0 8. 5 Yield (%) 8. 0 7. 5 7. 0 6. 5 6. 0 5. 5 5. 0 0 2 4 6 8 Yield Curve LILCO IBM T – Bonds – Bonds T 10 12 14 16 18 20 Yield of MaturityRequirement ‘b’: The interest rate on the IBM bonds has the same components as the Treasury securities, except that the IBM bonds have default risk, so a default risk premium must be included. Therefore, = * + IP + MRP + DRP For a strong company such as IBM, the default risk premium is virtually zero for short-term bonds. However, as time to maturity increases, the probability of default, although still small, is sufficient to warrant a default premium. Thus, the yiel d risk curve for the IBM bonds will rise above the yield curve for the Treasury securities.In the graph, the default risk premium was assumed to be 1. 2 percentage points on the 20-year IBM bonds. The return should equal 6. 3% + 1. 2% = 7. 5%. Department of Finance Jagannath University 5|Page Requirement ‘c’: Long Island Lighting Company (LILCO) bonds would have significantly more default risk than either Treasury securities or IBM bonds, and the risk of default would increase over time due to possible financial deterioration. In this example, the default risk premium was assumed to be 1. 0 percentage point on the one-year LILCO bonds and 2. 0 percentage points on the 20-year bonds.The 20-year return should equal 6. 3% + 2% = 8. 3%. ————- Problem 2-2: The following yield on U. S. Treasury securities were taken from The Wall Street Journal on January 7, 2004: Term Rate 6 months 1. 0% 1 year 1. 2% 2 year 1. 6% 3 year 2. 5% 4 year 2. 9% 5 year 3 . 7% 10 year 4. 6% 20 year 5. 1% 30 year 5. 3% Plot a yield curve based on these data. Discuss how each term structure theory mentioned in the chapter can explain the shape of the yield curve you plot. Solution 2-2: 5. 35 5. 30 5. 25 Yield (%) 5. 20 5. 15 5. 10 5. 05 5. 00 4. 95 4. 90 4. 85 0 5 Yield Curve 10 15 20 Maturity (years) 25 30 ———— Department of Finance Jagannath University 6|Page Problem 2-3: Inflation currently is about 2 percent. Last year the Fed took actions to maintain inflation at this level. However, the economy is showing signs that it might be growing too quickly, and reports indicate that inflation is expected to increase during the next five year. Assume that at the beginning of 2005, the rate of inflation expected for the year is 4 percent; for 2006, it is expected to be 5 percent; for 2007, it is expected to be 7 percent; and, for 2008 and every year thereafter, it is expected to settle at 4 percent. a.What is the average expected inflation rate over the five year period 2005-2009? b. What average nominal interest would, over the five-year period, be expected to produce a 2 percent real risk-free rate of return on five-year Treasury securities? c. Assuming a real risk-free rate of 2 percent and a maturity risk premium that starts at 0. 1 percent and increases by 0. 1 percent each year, estimate the interest rate in January 2005on bond that mature in one, two, five, 10 and 20 years and draw a yield curve based on these data. d. Describe the general economic conditions that could be expected to produce an upward-sloping yield curve. . If the consensus among investors in early 2005 is that the expected rate of inflation for every future year is 5 percent ( = 5% for t = 1 to ? ), what do you think the yield curve would look like?Consider all the factors that are likely to affect the curve. Does your answer here make you question the yield curve you drew in part c? Solution 2-3: Requirement ‘a & b’: Expected Annual Inflation Rate 4% 5% 7% 4% 4% 4% 4% Real Risk-free Rate (k*) 2% 2% 2% 2% 2% 2% 2% Average Expected Inflation Rate or Inflation Premium (IP) 1 = 4% 1 =4% 2 = (4%+5%) ? 2 = 4. 5% 3 = (9%+7%) ? 3 = 5. 33% 4 = (16%+4%) ? =5% 5 =(20%+4%) ? 5 = 4. 8% 10 =(24%+4%? 5) ? 10=4. 4% 20 =(44%+2%? 5) ? 20=4. 2% Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Average Nominal Interest Rate = k* + IP 6% 6. 5% 7. 33% 7% 6. 8% 6. 4% 6. 2% Requirement ‘c’: Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Department of Finance Maturity Risk Premium (MRP) 0. 1% 0. 1%+0. 1% =0. 2% 0. 2%+0. 1% =0. 3% 0. 3%+0. 1% =0. 4% 0. 5%+0. 1% =0. 5% 0. 5%+(0. 1%? 5) =1. 0% 1. 0%+(0. 1%? 10) =2. 0% Jagannath University 7|PageAnd Bond Type 1st year bond 2nd year bond 5th year bond 10th year bond 20th year bond The Yield Curve: 9. 0 8. 0 7. 0 6. 0 5. 0 4. 0 3. 0 2. 0 1. 0 0. 0 0 2 4 + 6% + 0. 1% 6. 5% + 0. 2% 6. 8% + 0. 5% 6. 4% + 1. 0% 6. 2% + 2. 0% Estimated Interest Rate (k) 6. 1% 6. 7% 7. 3% 7. 4% 8. 2% Yield Curve Yield (%) 6 8 10 12 14 Years to Maturity 16 18 20 Requirement ‘d’: The ? normal? yield curve is upward sloping because, in ? normal? times, inflation is not expected to trend either up or down, so IP is the same for debt of all maturities, but the MRP increases with years, so the yield curve slopes up.During a recession, the yield curve typically slopes up especially steeply, because inflation and consequently short-term interest rates are currently low, yet people expect inflation and interest rates to rise as the economy comes out of the recession. Requirement ‘e’: If inflation rates are expected to be constant, then the expectations theory holds that the yield curve should be horizontal. However, in this event it is likely that maturity risk premiums would be applied to long-term bonds because o f the greater risks of holding long-term rather than short-term bonds: Yield (%) Actual yield curveMaturity risk premium Pure expectations yield curve Years to Maturity Department of Finance Jagannath University 8|Page If maturity risk premiums were added to the yield curve in part e above, then the yield curve would be more nearly normal—that is, the long-term end of the curve would be raised. ————- Problem 2-4: Assume that the real risk-free rate of return, k*, is 3 percent, and it will remain at that level far into the future. Also assume that maturity risk premiums on Treasury Bonds increase from zero for bonds that mature in one year or less to a maximum of 2 percent, and MRP increases by 0. percent for each year to maturity that is greater than one year – that is, MRP equals 0. 2 percent for a two-year bond, 0. 4 percent for a three year bond, and so forth. Following are the expected inflation rates for the next five years: Year Inflat ion Rate (%) 2005 3 2006 5 2007 4 2008 8 2009 3 a. b. c. d. What is the average expected inflation rate for a one, two, three, four and five year bond? What should be the MRP for a one, two, three, four and five year bond? Compute the interest rate for a one, two, three, four and five year bond?If inflation is expected to equal 2 percent every year after 2009, what should be the interest rate for a 10 and 20 year bond? e. Plot the yield curve for the interest rates you computed in parts c and d. Solution 2-4: Requirement ‘a’: Expected Annual Inflation Rate 3% 5% 4% 8% 3% 2% 2% Real Risk-free Rate (k*) 3% 3% 3% 3% 3% 3% 3% Average Expected Inflation Rate or Inflation Premium (IP) 1 = 3% 1 =3% 2 = (3%+5%) ? 2 = 4% 3 = (8%+4%) ? 3 = 4% 4 = (12%+8%) ? 4 =5% 5 =(20%+3%) ? 5 = 4. 6% 10 =(23%+2%? 5) ? 10=3. 3% 20 =(33%+2%? 5) ? 20=2. 65%Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Requirement ‘b†™: Average Nominal Interest Rate = k* + IP 6% 7% 7% 8% 7. 6% 6. 3% 5. 65% Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond Maturity Risk Premium (MRP) 0% 0%+0. 2% =0. 2% 0. 2%+0. 2% =0. 4% 0. 4%+0. 2% =0. 6% 0. 6%+0. 2% =0. 8% 0. 8%+(0. 2%? 5)=1. 8% 2% Department of Finance Jagannath University 9|Page Requirement ‘c & d’: Bond Type 1st year bond 2nd year bond 3rd year bond 4th year bond 5th year bond 10th year bond 20th year bond 6% + 0% 7% + 0. 2% 7% + 0. 4% 8% + 0. 6% 7. 6% + 0. 8% 6. 3% + 1. 8% 5. 65% + 2% Interest Rate (k) 6% 7. 2% 7. 4% 8. 6% 8. 4% 8. 1% 7. 65% Requirement ‘e’: Yield Curve 9. 0 8. 5 Yield (%) 8. 0 7. 5 7. 0 6. 5 6. 0 5. 5 5. 0 0 2 4 6 8 10 12 14 16 18 20 Years to Maturity ————Problem 2-5: Today’s edition of The Wall Street Journal reports that the yield on Treasury bills maturing in 30 days is 3. 5 percent, the yield on Treasury bills m aturing in 10 years is 6. 5 percent, and the yield on a bond issued by Nextel Communications that matures in six years is 7. 5 percent.Also, today the Federal Reserve announced that inflation is expected to be 2 percent during the next 12 months. There is a maturity risk premium (MRP) associated with all bonds with maturities equal to one year or more. a. Assume that the increase in the MRP each year is the same and the total MRP is the same for bonds with maturities equal to 10 years and greater that is, MRP is at its maximum for bonds with maturities equal to 10 years and greater. What is the MRP per year? b. What is default risk premium associated with Nextel’s bond? c. What is the real risk-free rate of return? Department of Finance Jagannath University 0 | P a g e Solution 2-5: Requirement ‘a’:Since MRP associated with all bonds with maturities equal to one year or more, so with Treasury bills maturing in 30 days, 0% MRP is associated, then k = k* + IP ? 3. 5% = k* + 2% ? k* = 3. 5% ? 2% ? k* = 1. 5% At the 10 year bond: k = k* + IP + MRP ? 6. 5% = 1. 5% + 2% + MRP ? MRP = 6. 5% ? 1. 5% ? 2% ? MRP = 3% As MRP at 10 year bond is 3%. So MRP per year is (3? 10) = 0. 3%. Requirement ‘b’: Since 30 days T-bond and 10 years T-bond fulfills the equations:- K = k* +IP +MRP, We have to calculate DRP from 6 years Nextel Bond: k = k* +IP +DRP +MRP ? 7. 5% = 1. 5% + 2% + DRP + (0. % ? 6) ? 7. 5% = 3. 5% + DRP + 1. 8% ? DRP = 7. 5% ? 3. 5% ? 1. 8% ? DRP = 2. 2% Requirement ‘c’: Now real risk-free rate of return k* = 3. 5% – IP = 3. 5% – 2. 0% = 1. 5% ————- Exam-Type Problems 2-6: According to The Wall Street Journal, the interest rate on one-year Treasury bonds is 2. 2 percent, The rate on two-year Treasury bonds is 3. 0 percent, and the rate on three-year Treasury bonds is 3. 6 percent. These bonds are considered risk free, so the rates given here are risk free rates ( ). The one-y ear bond matures one year from today, the two-year bond matures two year from today and so forth.