Explain how the body obtains energy from fat, carbohydrates and proteins Free Essays

Presentation Every living thing expects vitality to remain warm (well evolved creatures for this situation) and to complete other life process for example support, development, development, every day exercises and so on. We will compose a custom paper test on Clarify how the body gets vitality from fat, sugars and proteins or on the other hand any comparable theme just for you Request Now The entirety of the dietary vitality in people is gotten from the fundamental food sources including starches, fat and proteins. These significant food types are otherwise called macronutrients and every ha its own vitality content that gives vitality by breaking their substance bond vitality in food particles. Sugars and fat produce higher vitality levels than proteins in non photosynthetic creatures. Fat give unmistakably more vitality per gram than sugar or protein for instance starch and protein gives 16.8 KJ/g though fat gives 37.8 kJ of vitality per gram. Digestion a lot of concoction response assumes a significant job in giving vitality that causes a life form to look after life. Metabolic procedure is sorted out in various pathways that drives a compound response to another through the assistance of proteins and coenzymes. The breakdown of food atoms prompts a procedure known as oxidative phosphorylation that happens in mitochondria. This procedure is fundamental for giving Adenosine triphosphate (ATP) is an essential wellspring of vitality for cell exercises. As the metabolic pathway is sorted out in to various stages, each stage ought to be investigated in subtleties to comprehend the procedure. Subsequently these stages will be investigated later in the article to respond to the paper question in full. Supplements to Energy-Three Main Stages The macronutrients introduced in our food are the primary wellspring of vitality for our body and every one of the three supplements must be separated into littler atoms before the phones can use them to create vitality. The breakdown of the bigger atoms and oxidization of those particles are known as catabolism. The breakdown occurs in processing framework where the breakdown is moderately comparative for every supplement. Particular chemicals, an impetus, digest explicit polymers into monomers, for moment protease are specific to catabolise proteins into amino corrosive and glycoside hydrolases transform polysaccharides into monosaccharides and fats are hydrolysed into unsaturated fats and glycerol by lipase. Oxidation of these atoms happens once the little subunits are separated into the cytosol of a cell through a functioning vehicle protein. Glycolysis response, which occurs under anaerobic conditions, is a metabolic pathway that takes placehttp://en.wikipedia.org/wiki/Glycolysis inside every living cell. Glycolysis breaks sugar particles glucose, a 6 carbon iota, and fructose into two pyruvate particles, that contains 3 carbon iotas in every atom. A distinction exists during the ignition of starch particle that can happen anaerobically while this isn't valid for the other two macronutrients. The change of glucose into pyruvate occurs in 10 distinct stages. Each stage has an alternate compound to catalyze 10 diverse sugar atoms. In the initial 5 phases, called preliminary stage, two atoms of ATP for each every glucose particle are utilized to give vitality to drive the response. Toward the beginning of last five phases known as pay off stage 2 NAD+ and GAPDH catalyst transform the NAD+ into a NADH atom by pulling off a hydrogen particle from GAPDH, two H+ are likewise created at this stage. Toward the finish of the stages two NADH are given and four ATP particles are given from ADP in addition to P1. The came about pyruvate continues to mitochondria from cytosol to lose two carbon dioxide particles and change to two carbon acetyl bunch that gets together with coenzyme A to create acetyl CoA before it enters the citrus extract cycle. Triglycerides, primary type of fat, are oxidized so as to break them into littler units, for example, unsaturated fat and glycerol inside the cytoplasm. Unsaturated fats are actuated in cytoplasm before they enter cytosol, an equivalent mode for glucose to citrus extract. The enactment must be done before the oxidation of unsaturated fat starts. During the initiation, unsaturated fats change to greasy acyl CoA and ATP transforms into AMP. Glycerol is transmitted to the glycolysis while the unsaturated fats are oxidized through beta-oxidation inside the mitochondria. There are four primary compounds situated in mitochondria, consequently a progression of four phases happen that convert acyl CoA to acetyl CoA. Two atoms of carbon from an acyl CoA is abbreviated at each phase to make a particle of acetyl CoA and a particle of NADH and FADH2. The came about acetyl CoA is passed to the citrus extract cycle and NADH in addition to FADH is gone into the electron transport chain. Proteins comprise of carbon, hydrogen, oxygen and nitrogen. Despite the fact that sugars and proteins hold a comparable structure however there is as yet a distinction among their structure. Sugars are made out of carbon, hydrogen, and oxygen while protein has an expansion of nitrogen and sulfur. Nitrogen is liable for the formation of basic amino acids. There are on the whole together 20 fundamental amino acids that assemble all body cells in creatures. Body cell process amino acids into fats or glycogen if extreme proteins are devoured in human eating routine. The breakdown of proteins to amino acids through processing opens the way to vitality digestion of proteins. On the off chance that amino acids are utilized to create vitality it must be done through deamination process where amino acids are broken into their constituent parts. Nutrient B6 partner with its compound in transamination cause nitrogen to move to a kito corrosive making amino corrosive lose its nitrogen and amino gathering. Smelling salts is integrated when amino corrosive in changed to L glutamate through transamination process. Alkali produces urea that makes a trip through the blood to the kidney and discharged in pee. Since urea is expelled from the procedure the carbon skeleton of amino acids can be utilized in various manners for example for protein amalgamation or ATP arrangement. Carbon skeleton can likewise be put away, predominantly in livers, as glucose by gluconeogenesis. This beginnings by changing over carbon skeleton into acetyl CoA with the goal that the coenzyme can be transmitted to the citrus extract cycle where acetyl CoA is oxidized to produce ATP. Gluconeogenesis (a metabolic pathway) expects to shape glucose from utilizing non sugar carbon substrate including glycerol, glycogenic amino corrosive. The came about glucose can be changed over to glucose 6 phosphates from phosphoenolpyruvate. The final result is pyruvate; notice the finished result of glucose in glycolysis is same. The procedure requires vitality so as to give vitality during starvation in fasting or extraordinary exercise. Citrus extract cycle (otherwise called Kerb’s cycle) is a chain of eight response occurring in mitochondria. It is valid for each macronutrient to experience this chain of cycle and the oxidation on the entirety of the acetyl CoA carbons entered from various supplements is comparative. This is a significant stage as a large portion of the vitality created in mitochondria occurs after this cycle is finished to deliver atom conveying electrons. The carbon present in acetyl CoA is completely oxidized to a COÂ ­2 particle during this response. Acetyl CoA channels its two carbon atoms to pundit corrosive cycle and a response among acetyl and oxaloacetate produce citrate in the main chain of the cycle. Enacted transporter particles are created from the oxidation of citrate atoms. Each cycle creates 3 NADH atoms, 1 GTP particle and 1 FADH2 particle. Two particles of COÂ ­2 are radiated as waste. The NADH and FADH2 atoms convey hydrogen and electrons which at that point continues to an oxidative phosphorylation process. The oxidative phosphorylation gives the majority of the vitality in the entire framework. The cycle doesn't expect oxygen to do the procedure yet the oxidization of pyruvate requires oxygen. Consequently the cycle works under the oxygen consuming condition. The following and last advance happens along an electron transport chain in the mitochondrion internal layer. The electron transport chain structure in four unique proteins comprises of five buildings. The high vitality electrons from decreased electron bearers, NADH and FADH2, are besieged to the electron transport chain where the electron moves from an electron giver to a terminal electron acceptor. These electrons are added to the NADH and FADH2 particles in the citrus extract cycle. The electrons from NADH enters complex I where it’s oxidized back to NAD+. Along these lines one electron is caught and joins a proton to frame a Hydrogen molecule and one electron is lost during NADH misfortunes its hydrogen. The electron from the hydrogen conveys onto next stage while the proton moves back the inward film after the creation of FMN to FMNH2. The electron in last complex implants to the atoms of O2 gas and consolidates to two H+ to deliver water H2O. While the electrons travel through these four buildings and gives enough vitality to siphon H+ particles (protons) outside the inward layer. The fixation slope of H+ is increased because of the development of these protons. This inclination stores vitality that is adequate for the creation of ATP by phosphorylation of ADP. This procedure is known as oxidative phosphorylation where the electron is in its most minimal type of vitality hence all the vitality from the food atoms are oxidized to combination colossal measure of ATP. There are roughly 30 particles of ATP increased after the total oxidation per atom of glucose or unsaturated fats or amino acids to H2O and CO2. Complete burning of proteins additionally delivers NH3 as waste items. End As the paper arrives at its decision we can propose that these macronutrients follow a comparative pathway to produce ATP. In spite of the fact that the methods for getting to the citrus extract cycle for each macronutrient is distinctive for example fat must be initiated before it enters cytosol though protein experiences deamination process, not valid for either glucose or fat. Likewise the capacity

Children and the holocaust Research Paper Example | Topics and Well Written Essays - 1250 words

Youngsters and the holocaust - Research Paper Example The desire of the German head, Adolf Hitler, to control the Semites and to trim their age supports the extraordinary duty of his legislature to lessen the number of inhabitants in Jewish kids. As youngsters were seen as the propagative ages, they were a need focus when the Germans felt that Jews were tricksters and didn't have the right to exist in the nation. From this point of view, the Holocaust was a period languishing over Children, which had both prompt impacts and negative results long after the war. Before the Second World War, the German government had sent various signs that Jews would be the following survivor of dread under the absolutist authority of Hitler. The Germany government communicated elevated level of disappointment with the Jews, who were seen as double crossers during the time of the war. While there was a desire that the Jews would have fallen survivor of Hitler power misuse, it was not foreseen that such a negative difficulty would occur for kids as it unfolded when the war started. Measurements demonstrate that over 1.5 million youngsters were murdered during the holocaust, of which 1.2 million were from the Jewish people group (Sterling 212). The rest contained the Gypsy and German youngsters who were seen to have mental imperfections. The German government focused on youngsters as one of the methods of rebuffing the Jews. In addition, the administration had a thought process to evade the prevalence of Jews that was developing because of their populace incre ment. Since kids spoke to the coherence of the Jewish age, they were the primary objective to control populace increment and to stop the traitorous, as they put it, age. At the night before the war, kids were isolated from their folks mightily and they no longer had the ability to hang on their privileges of keeping their youngsters. The legislature focused on the Jewish settlement zones and executed lion's share of the populace while moving others to the

100 Must-Read Books About Addiction

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Nelson Mandelas Fight for Freedom - 1646 Words

Imagine yourself growing up in a country where you might get thrown in jail for drinking from the wrong water fountain; where just because of your skin color, you get paid less money than your neighbor who has the same job; where you can’t even walk on the same sidewalk just because of the pigment in your skin. For Nelson Mandela, this situation was a reality. This style of living began in 1948 and, thanks to Mandela, ended in 1994. Problems began when the National Party---dominated by Afrikaans-speaking descendants of the Dutch settlers—came to power in South Africa. Segregation and mistreatment of the less superior—non-whites--became a government policy called â€Å"apartheid,† which means â€Å"apartness† in the Afrikaans language. Nelson Mandela†¦show more content†¦He was disguised as a white friend’s chauffer. At this point in time, the government was arresting all black leaders that took part in the Anti- Apartheid movement. S o, in an attempt to avoid being arrested, Mandela was forced to live apart from his family. He moved from place to place to avoid being detected by government informers and spies. Usually during important events, like rallies, he would often disguise himself as a chauffer or a gardener. Mandela was nicknamed, â€Å"the Black Pimpernel,† because he was so he was so successful at dodging the police. However, he was not successful enough. After being arrested, Mandela was charged with inciting strikes and illegally leaving the country. He had often traveled to countries in North and West Africa to gain support. He also traveled to England where he met politicians. Throughout his trial—the Rivonia Trial---Mandela carried out his own defense. In the end, Mandela was found guilty and sentenced to prison at Robben Island for five years. This jail was bleak, unwelcoming, and depressing. It is about 7.5 miles off the coast of Cape Town. Robben Island was one of the harshes t prisons in South Africa. The island was bitterly cold in the winter and scorching hot in the summer. Prisoners could only wear short trousers with no shoes. The imprisoned were to sleep on mats that lay out on their cell floor. Mandela’s cell was less than thirty-two square feet. He was confined to it for sixteen hoursShow MoreRelatedNelson Mandela1187 Words   |  5 Pagesconcept with great cultural significance to a wide cultural group (Wikipedia). Abraham Lincoln and George Washington are examples of individuals who are important cultural icons to many Americans. Another person who is considered a cultural icon is Nelson Mandela; an individual who took a stand against apartheid in South Africa and established great strides toward racial equality in that part of the world. Mandela is considered as cultural icon because he achieved widespread recognition for his accomplishmentsRead MoreAfrican National Congress Youth League1167 Words   |  5 Pagesprison, the Anti-Ap artheid Movement (AAM) and the United Democratic Front(UDF) continued the fight against apartheid and a new democratic system. Boehmer’s Analysis: As a distant royal and well educated â€Å"black Englishman† Mandela was not the constant subject of racist colonization during his adolescence. After arriving in Johannesburg and witnessing the daily dehumanization of black Africans, it became Mandela’s mission to correct the injustice. Association with the ANC and ANCYL provided the platformRead MoreComparing Martin Luther King and Nelson Mandela1041 Words   |  5 PagesActions, beliefs, and patience are characteristics that are comparable in both the lives of Martin Luther King and Nelson Mandela. I. Martin Luther King Jr. and Nelson Mandela performed similar actions in their lives. A. In 1955, Martin Luther King, Jr., fought for the civil rights of the black population in America. B. Similarly, in South Africa, Nelson Mandela fought for the freedom of blacks from apartheid. II. Another similarity between King and Mandela is that they had the same beliefs. ARead MoreNelson Mandel A True Inspiration For All Of Humanity1748 Words   |  7 PagesNelson Mandela: From Vision to Transformation A true inspiration for all of humanity, Nelson Mandela broke down barriers of social injustice, committing his life to the vision of a free and democratic society. His dedication and inspiration to those considered underprivileged or subjugated within their own governmental or political constraints serve as testaments to the power of leading with compassion and humility. Through his leadership and years of self-sacrifice, Nelson Mandela became SouthRead MoreNelson Mandela949 Words   |  4 PagesNelson Mandela The life story of Nelson Mandela has long become a legend, a story that transcends race, borders, culture, or language. He is one of the greatest leaders to ever step foot on this Earth. He was willing to give up his own personal freedoms for the good of his people. Still, his decisions at major points in his lifetime hold lessons for individuals who are inspired of becoming good leaders. Many leaders are inspired by the actions and decision-makings abilities of Mandela. He kept theRead MoreThe Legacy of Nelson Mandela1215 Words   |  5 Pagessystem of apartheid (â€Å"In Nelson Mandela’s own words†). Nelson Mandela was a moral compass symbolizing the struggle against racial oppression. Nelson Mandela emerged from prison after twenty-seven years to lead his country to justice. For twenty-seven years he sat in a cell because he believed in a country without apartheid, a country with freedom and human rights. He fought for a country where all people were equal, treated with respect and given equal opportunity. Nelson Mandela looms large in theRead MoreThe Legacy Of A New Democratic South Africa948 Words   |  4 PagesTrailblazers and change agents are men and women who dared the odds and sacrificed their freedom for the gain of others. Great leaders live among the masses; the quality of their service, humility, dedication, and selflessness distinguishes them from the populace. These great leaders are munificent men and women who are independent in their thinking. One such man, Nelson Mandela, delivered â€Å"Acceptance and Nobel Lecture† in 1993 for his contributions to the â€Å"peaceful termination of the apartheid ruleRead MoreNelson Mandela And His Success1408 Words   |  6 PagesNelson Mandela and His Success Introduction Nelson Mandela, the pursuit of freedom let him go out of the tribal sheikhs and take part in the movement for the emancipation of the underground. He had spent much time in the prison of a quarry, finally entered the presidential palace of the richest country in Africa. Nelson Mandela has strong character and he venerated national heroes. He is the eldest son in the family and is designated as the emirate. But he said he would never rule an oppressedRead MoreNelson Mandela Hero1366 Words   |  6 Pages Many people have heard of Nelson Mandela, but what makes him such an important figure? How has he influenced South Africa and the world? Nelson Mandela’s history can clearly tell the tale of heroism. South Africa suffered under apartheid from 1948 until 1994 where Nelson Mandela was elected the first black president of South Africa. For 46 years, laws of racial discrimination and oppression flooded the land, and police brutality and tensions between the people increased, but i t all came to an endRead Morenelson mandela is my hero1351 Words   |  6 PagesNelson Mandela Nelson Mandela, a true hero in this controversial world or just another politician? Was his 27 years of imprisonment for standing up against his nations government, which did not support human rights, equality and world poverty, something the country of Africa should be proud about? As disappointing as it might seem, the answer is a straight and simple, no. Nelson Mandela, my hero, the man that everyone knows, that conquered black domination in Africa, that healed his countries

Gender Status A Slave, The Narrative Of The Life Of...

The first African slaves began to arrive in North America around 1619 in the present day state of Virginia. Their main purpose was to aid in the production of profitable crops such as cotton and tobacco as well as cooking, washing clothes, and harvesting other crops. From the day the slaves were brought from Africa to North America they were treated in the most inhumane way possible. They were packed liked sardines into a boat for a journey across the Atlantic Ocean and when they arrived in North America slave masters made them work ridiculous hours and even beat them as a punishment. Gender status played an important role in the treatment of slaves and the type of work they were forced to do which can be seen in the books: Celia a Slave, The Narrative of the Life of Frederick Douglass, and The American Promise Volume 1. Male and female slaves were alike yet different at the same time; they were purchased for different reasons, completed different types of work, suffered different pu nishments, and were considered to be the inferior race. Robert Newsom’s wife passed away in 1849 and in the following year, Celia was purchased as many believed she would aid in the cooking and cleaning on the property due to his wife passing away. But Celia was purchased as a sex slave and this was clear when Newsom raped her on his journey back from purchasing Celia. Newsom’s affection for Celia was shown when he provided her with a cabin near the main house and other material possessionShow MoreRelatedA Slave, The Narrative Of The Life Of Frederick Douglass, And The American Promise Volume 11323 Words   |  6 PagesThe first African slaves arrived in North America around 1619 and settled in present day state of Virginia. Their main purpose was to aid in the production of profitable crops such as cotton and tobacco, along with cooking, washing clothes, and harvesting other crops. When the slaves made a forced journey from Africa to North America their captors treat ed them in the most inhumane way possible. Packed liked sardines into a boat for a journey across the Atlantic Ocean, the slaves arrived in North AmericaRead MoreBibliographic Essay on African American History6221 Words   |  25 PagesBibliographic Essay on African American History Introduction In the essay â€Å"On the Evolution of Scholarship in Afro- American History† the eminent historian John Hope Franklin declared â€Å"Every generation has the opportunity to write its own history, and indeed it is obliged to do so.†1 The social and political revolutions of 1960s have made fulfilling such a responsibility less daunting than ever. Invaluable references, including Darlene Clark Hine, ed. Black Women inRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesof Southern Life Lisa M. Fine, The Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture in Recent America Joanne Meyerowitz, ed., History and September 11th John McMillian and Paul Buhle, eds., The New Left Revisited David M. Scobey, Empire City: The Making and Meaning of the New York City Landscape Gerda Lerner, Fireweed: A Political Autobiography Allida M. Black, ed., Modern American Queer History

A Visit to a Famous City Free Essays

A few months ago my father and I visited Singapore, one of the most famous cities in Asia. Singapore, a small island, lies at the southern and of West Malaysia. A long and narrow piece of land joins Singapore with Johore Hahru, the southern-most town of West Malaysia. We will write a custom essay sample on A Visit to a Famous City or any similar topic only for you Order Now Singapore is now an independent state. The city of Singapore is extremely beautiful. It is well known for its centers of business and other activities. There are many places of interest such as the Tiger Balm Garden, the Botanical Gardens and Raffles Museum. There are also many important centers of learning such as the University of Singapore, Science Centre, the Nanyang University and the Polytechnic. Being a famous city, hundreds of people come everyday from various parts of the world to do business or to enjoy the sights of the city. Singapore therefore has large and beautiful airports and its harbors are full of ships. There are many night schools where people who cannot go to the day schools for some reason or other can continue their studies. And, the government of Singapore is still doing its best to make further improvements in the city for the benefit of the people. During my stay in Singapore, I went out everyday with my father to see the beautiful and interesting places and things in the city. One day we went to the Tiger Balm Garden where I saw several statues of people, animals and other strange creature beautifully made and kept. The sea near this garden makes it a pleasant place to visit. We spent almost half of the day at this place. Another day we visited the museum where I saw hundreds of curious things preserved for scholars and others. It was indeed an education to see all those things. There is so much to learn here that every visit by any person is sure to add to his knowledge. I also visited some of the harbors and saw the large ships anchored there. The sight of the ships aroused a desire in me to cross the oceans and go round the world. I was indeed deeply impressed by activities at the harbor. Then every night, I went round the town and visited some of the parks and other places of interest. The numerous lights and the constant stream of traffic kept the city alive. I visited a few of the cinemas as well. In short, I enjoyed every moment of my stay in this famous city of Singapore. How to cite A Visit to a Famous City, Essay examples

The Red Tent My Reaction Essay Example For Students

The Red Tent: My Reaction Essay In her book, The Red Tent, Anita Diamant attempts to expound upon the foundations laid by the Torah by way of midrashim. In doing so, parts of her stories tend to stray from the original biblical text. The following essay will explore this and several other aspects of the book as they relate to the Torah and modern midrash. One of the first differences I recognized was the description of Leahs eyes. In Genesis 29:17, Leahs eyes are described as weak. Diamant dispels this rumor, saying that Leahs eyes, one blue and one green, made others weak because most people had difficulty looking her in the face. By making this small adjustment, Diamant is able to create a connection between Jacob and Leah that the Bible neglects. The Bible says only that Jacob loved Rachel more than Leah, which tends to give the impression that Leah was unloved. Diamant says that Jacob was able to look Leah in the eye without any trouble and never made any comment regarding them. This is significant because it shows that Jacob overlooked a flaw in Leah that most others seemed unable to ignore, and the physical attraction between them that she later addressed in the seven days following their marriage (which was a single night in the Bible) seems to make more sense. In addition, their discussion in the tent concluding that Jacob was to emerge after the week feigning anger is a midrash provides an explanation as to why Jacob slept with Leah and still complained to Laban that he had been tricked. Diamant makes Jacob appear to be more of a gentleman than the Bible does, and thus, a more likeable main character in her novel. We will write a custom essay on The Red Tent: My Reaction specifically for you for only $16.38 $13.9/page Order now In The Red Tent, Diamant created people not mentioned in the Torah. One such person was Ruti, Labans last wife. Laban beat Ruti badly and frequently for no apparent reason. In Diamants book, Rutis fairly small role serves as a clear reason for the reader to dislike Laban. Until Ruti is introduced, besides being a drunk and making love to sheep, we find Laban to be little more than pathetic. Including Ruti in the story adds another dimesion to Labans character; one of cruelty and aggression. At this point, Diamant makes Laban begin to fit the novelistic bad guy mold quite well, and the reader finds him more repulsive than ever before. His daughters pay little attention to Ruti and ignore the evidence of their fathers abusiveness because Ruti is the mother of their sons rivals, their material enemy. When she finally comes to them for help to be rid of the child in her womb, so that the baby girl would not suffer the same treatment from Laban as her mother did, they are eager to be of a ssistance. When Jacob goes to town to redeem Ruti after Laban had sold her as a slave, Jacob becomes more of a hero and is further distinguished as the good guy in the novel. Using Ruti, Diamante persuades the reader to side with the daughters and Jacob against the cruel Laban.Another discrepancy between the biblical text and The Red Tent is clear when Laban catches up to Jacobs camp as he and his wives fled from Labans land. The Torah says that Laban was unable to find the statues and did not know where Rachel had them hidden, but Rachel blatantly tells her father that she was sitting on his precious statues during her period in Diamants midrash. This act of defiance, as well as Labans acceptance of it, are key events in the novel. It gives the reader the impression that Laban no longer had control over his daughters and they were finally free from that evil man. It is for these same reasons that Laban did not kiss his sons and daughters good-by as he did in the scripture, and as a result of Diamants interpretation, their parting was much more dramatic and bitter than in the original text. .u73fcf4bfda2ed628c42ad5af47b34958 , .u73fcf4bfda2ed628c42ad5af47b34958 .postImageUrl , .u73fcf4bfda2ed628c42ad5af47b34958 .centered-text-area { min-height: 80px; position: relative; } .u73fcf4bfda2ed628c42ad5af47b34958 , .u73fcf4bfda2ed628c42ad5af47b34958:hover , .u73fcf4bfda2ed628c42ad5af47b34958:visited , .u73fcf4bfda2ed628c42ad5af47b34958:active { border:0!important; } .u73fcf4bfda2ed628c42ad5af47b34958 .clearfix:after { content: ""; display: table; clear: both; } .u73fcf4bfda2ed628c42ad5af47b34958 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u73fcf4bfda2ed628c42ad5af47b34958:active , .u73fcf4bfda2ed628c42ad5af47b34958:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u73fcf4bfda2ed628c42ad5af47b34958 .centered-text-area { width: 100%; position: relative ; } .u73fcf4bfda2ed628c42ad5af47b34958 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u73fcf4bfda2ed628c42ad5af47b34958 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u73fcf4bfda2ed628c42ad5af47b34958 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u73fcf4bfda2ed628c42ad5af47b34958:hover .ctaButton { background-color: #34495E!important; } .u73fcf4bfda2ed628c42ad5af47b34958 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u73fcf4bfda2ed628c42ad5af47b34958 .u73fcf4bfda2ed628c42ad5af47b34958-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u73fcf4bfda2ed628c42ad5af47b34958:after { content: ""; display: block; clear: both; } READ: Adolescent Depression EssayEven more dramatic is the rising tension between Jacob and his brother regarding the marriage of Dinah and Shalem, and its horrible climax, resulting the murder of every man in Shechem. In The Red Tent,

The Holocaust History

The Holocaust History The story of the Holocaust can be traced back to World War I. The First World War was the end result of a series of miscalculations and wrong decisions. Germany was forced to fight Great Britain, France, Russia, and the United States because it had an alliance with Austro-Hungary, Turkey and Italy. In the aftermath of the defeat Germany was humiliated through unreasonable demands by the victors such as the loss of lands that used to belong to the German people as well as restriction on their capability to build up a military force.Advertising We will write a custom research paper sample on The Holocaust History specifically for you for only $16.05 $11/page Learn More German patriots were not happy with the armistice and many were bitter. One of those who harboured ill-feelings towards his enemies was Hitler. But in his mind it is not only the foreign powers that must be blamed for the misfortune of Germany. Hitler said that the root cause of the problems wer e the despicable Jews of Europe. His plan to eradicate them led to the Holocaust. Adolf Hitler was a young soldier during World War I. He could never forget the humiliating defeat. He developed a plan to strengthen the military capability of Germany and to restore the state to her former glory. However, he had a more sinister plan hidden from public view. With full support from the Nazi party, Hitler developed a plan to systematically eradicate all the Jews in Europe. At the end more than 6 million Jews were eliminated while others were displaced and had to seek asylum from foreign governments. The Holocaust Hitler believed in his heart that he was not dealing with a moral issue. He was convinced that the problem is political in nature and must be dealt with in a business-like manner. Hitler used the ideas that he gleaned from social Darwinism theory that provided justification to racial profiling. Hitler believed that Jews are part of a race that has distinct characteristics. Hitle r also believed that these characteristics were inherited and the main reason why Jews behave and think in a certain way. Hitler despised the Jews and based on his reasoning he did not want their genetic makeup to be mixed with pure German blood. In his manifesto entitled Mein Kampf Hitler enumerated the reasons why he abhorred the Jews. Hitler said that he did not the way they look (Rash 37). He also said that he did not approve the way the Jews conduct their business (Rash 37). Finally, he said that overall they are an inferior people (Rash 37). Hitler concluded that the German people cannot intermarry with Jews because they will produce inferior children (Rash 37). Hitler devised a plan to segregate and isolate them. But in the end what he really wanted was to execute what he called the Final Solution. Hitler’s plan called for the construction of ghettos. When he gained success he was emboldened to carry out the other aspects of the Final Solution. At the height of Nazi po wer, Hitler shipped Jews as if they were cattle. At the end of their journey the Jews were exterminated or forced to work in concentration camps to produce products deemed necessary for the establishment of the Third Reich.Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More Millions of Jews were systematically murdered at the hands of Hitler’s elite soldiers. When the Soviets liberated a major concentration camp, the world saw the true extent of the Holocaust. It is easy to digest statistics especially when it comes to faceless victims. But when confronted with the personal belongings left behind by those who were victims of genocide, the reality sinks in. Consider the following items recovered from Auschwitz alone: a) 348,820 men’s suits; b) 836,255 women’s garments; c) 5,525 pair of women’s shoes; d) 38,000 pairs of men’s shoes; and e) huge quantitie s of toothbrushes, glasses, false teeth, gold caps and filling from teeth and 7 tons of hair (Fischel 117). The seven tons of hair forces the reader to see the evil of the Holocaust. It must be pointed out that it was not only the Jews who were targets of racial cleansing. Hitler wanted to preserve the purity of the German race from Jews, Negroes and Gypsies. In Hitler’s mind, these people have certain genetic flaws that compelled them to act in contemptible ways. Gypsies and Negroes were not Hitler’s priority because unlike the Jews, these people are not owners of business and influential members of society. Six million Jews were murdered by the Nazis and yet it is hard to believe that there was a government that could have authorized such a grisly plan. People must realize the severity of the crisis faced by the Jews during that time period. In order to fully comprehend what the Jewish people faced during that time, it must be pointed out that in 1933 the total popul ation of Jews in Europe were only 9 million. Hitler orchestrated a plan that made it possible to kill two out of three European Jews. d the magnitude of the genocide it is important to point out that in 1933 the Jewish population in Europe was estimated to be over nine million and therefore the Nazis orchestrated a plan to kill nearly two out of three European Jews (Griffiths 12). It can be argued that in the aftermath of the Holocaust there was no Jewish family that did not mourn the death of friends and relatives. Present Day Israel Hitler’s desire to eliminate the Jews in Germany and then, in Europe can be considered as genocide. It was an irrational action from an outsider’s point of view. It is difficult to understand the root cause of the hate and the aggression. The direct victims were the Jews but the rest of the world understood the consequences of inaction and the lack of resources to deal with a tyrant like Hitler. The Holocaust was not possible without Worl d War II or the rise of Hitler to power. Many realized that war could have been avoided if there was a mechanism to resolve conflict and diffuse a tense situation. If the German people were not agitated, Hitler could not have used their vulnerabilities to compel them to thrust him into power. Thus, in the aftermath of the Holocaust, global leaders pledged that the extermination of Jews will not happen again. A few years after Holocaust, the United Nations was established.Advertising We will write a custom research paper sample on The Holocaust History specifically for you for only $16.05 $11/page Learn More The UN is an example of a mechanism that can help prevent wars and bloodshed. The United Nations is an international agency that helps resolve international disputes so that this will not lead to war. Before a conflict is decided in the battlefield, the UN demonstrates the power of diplomacy. The UN also serves as a guardian that assists member countries . If the UN was immediately established after, World War I bloodshed could have been prevented. It can be argued if the UN was already a functional entity during the time of Hitler, the pressure from the international community could have created problems for Nazi party’s plan to systematically eradicate the Jews. The UN served another major purpose in favour of the Jews. The UN paved the way for the creation of a new Israel. The survivors of the Holocaust were scattered all over the globe. But there were those who chose to go back to Israel. Those who yearned for a fresh start migrated to present day Israel. However, Jews were scattered all over the planet. The United States and Israel account for 82% of the total number of Jewish people (Dashefsky, DellaPergola Sheskin 14). Conclusion The main reason why Hitler was driven to systematically eliminate the Jews, Negroes, and Gypsies can be traced back to racial profiling as a result of studying the characteristics of human be ings. Hitler succeeded and the Nazi party became a formidable force in Germany. Hitler and the Nazi party were responsible for the murder of six million Jews and other members of the minority group. It was a tremendous blow for the Jewish community because two out of three European Jews were killed. Hitler was able to justify his actions and proved to all who listened to him that he had the power to make things happen. Hitler exploited the vulnerabilities of the German people. As a result, they granted him the power to change Germany. But Hitler used his new-found power not to build but to develop offensive weapons and tactics to provide the Nazi party the capability to systematically eliminate the Jews. Those who survived the Holocaust were scattered all over the world. But the majority of the European Jews who survived Hitler’s wrath, majority went to the United States and Israel. Dashefsky, Arnold, Sergio DellaPergola and Ira Sheskin. World Jewish Population  2010. CT: Connecticut University Press, 2010. Print.Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fischel, Jack. The Holocaust. Westport, CT: Greenwood Press, 1998. Print. Griffiths, Williams. The Great War. New York: Square One Publishers, 2003. Print. Rash, Felicity. The Language of Violence: Adolf Hitler’s Mein Kampf. New York: Peter Lang Publishing, 2006. Print.

Biography of Kate Chase Sprague, Political Daughter

Biography of Kate Chase Sprague, Political Daughter Kate Chase Sprague (born Catherine Jane Chase; August 13, 1840–July 31, 1899) was a society hostess during the Civil War years in Washington, D.C. She was celebrated for her beauty, intellect, and political savvy. Her father was Secretary of the Treasury Salmon P. Chase, part of President Abraham Lincolns Team of Rivals, and later served as secretary of state and chief justice of the United States Supreme Court. Kate helped promote her fathers political ambitions before she became embroiled in a scandalous marriage and divorce. Fast Facts: Kate Chase Sprague Known For:  Socialite, daughter of a prominent politician, embroiled in a scandalous marriage and divorceAlso Known As:  Kate Chase, Katherine ChaseBorn:  August 13, 1840 in Cincinnati, OhioParents: Salmon Portland Chase and Eliza Ann Smith ChaseDied:  July 31, 1899 in Washington, D.C.Education: Miss Haines School, Lewis Heyl’s SeminarySpouse: William SpragueChildren: William, Ethel, Portia, Catherine (or Kitty)Notable Quote: â€Å"Mrs. Lincoln was piqued that I did not remain at Columbus to see her, and I have always felt that this was the chief reason why she did not like me at Washington.† Early Life Kate Chase was born in Cincinnati, Ohio, on August 13, 1840.  Her father was Salmon P. Chase and her mother was Eliza Ann Smith, his second wife.   In 1845, Kate’s mother died, and her father remarried the next year.  He had another daughter, Nettie, with his third wife Sarah Ludlow. Kate was jealous of her stepmother and so her father sent her to the fashionable and rigorous Miss Haines School in New York City in 1846.  Kate graduated in 1856 and returned to Columbus. Ohio’s First Lady In 1849 while Kate was at school, her father was elected to the U.S. Senate as a representative of the Free Soil Party.  His third wife died in 1852, and in 1856 he was elected as Ohio’s governor.  Kate, at age 16, had recently returned from boarding school and became close to her father, serving as his official hostess at the governor’s mansion.  Kate also began serving as her father’s secretary and advisor and was able to meet many prominent political figures. In 1859, Kate failed to attend a reception for the wife of Illinois Senator Abraham Lincoln. Kate said of this occasion, â€Å"Mrs. Lincoln was piqued that I did not remain at Columbus to see her, and I have always felt that this was the chief reason why she did not like me at Washington.† Salmon Chase had a more momentous rivalry with Senator Lincoln, competing with him for the Republican nomination for president in 1860. Kate Chase accompanied her father to Chicago for the national Republican convention, where Lincoln prevailed. Kate Chase in Washington Although Salmon Chase had failed in his attempt to become president, Lincoln appointed him secretary of the treasury. Kate accompanied her father to Washington, D.C., where they moved into a rented mansion.  Kate held salons at the home from 1861 to 1863 and continued to serve as her father’s hostess and advisor. With her intellect, beauty, and expensive fashions, she was a central figure in Washington’s social scene. She was in direct competition with Mary Todd Lincoln. Mrs. Lincoln, as the White House hostess, had the position that Kate Chase coveted. The rivalry between the two was publicly noted. Kate Chase visited battle camps near Washington, D.C. and publicly criticized the president’s policies on the war. Suitors Kate had many suitors.  In 1862, she met newly elected Senator William Sprague from Rhode Island.  Sprague had inherited his family business in textile and locomotive manufacturing and was very wealthy. He had already been something of a hero in the early Civil War. He was elected Rhode Island’s governor in 1860 and in 1861, during his term in office, he enlisted in the Union Army. At the first Battle of Bull Run, he acquitted himself well. Wedding Kate Chase and William Sprague became engaged, though the relationship was stormy from the beginning. Sprague broke off the engagement briefly when he discovered Kate had had a romance with a married man. They reconciled and were married in an extravagant wedding at the Chase home on November 12, 1863. The press covered the ceremony.  A reported 500 to 600 guests attended and a crowd  also assembled outside the home. Sprague’s gift to his wife was a $50,000 tiara. President Lincoln and most of the cabinet attended. The press noted that the president arrived alone: Mary Todd Lincoln had snubbed Kate. Political Maneuvering Kate Chase Sprague and her new husband moved into her father’s mansion, and Kate continued to be the toast of the town and preside at social functions.  Salmon Chase bought land in suburban Washington, at Edgewood, and began to build his own mansion there. Kate helped advise and support her father’s 1864 attempt to be nominated over incumbent Abraham Lincoln by the Republican convention. William Sprague’s money helped support the campaign. Salmon Chase’s second attempt to become president also failed. Lincoln accepted his resignation as secretary of the treasury.  When Roger Taney died, Lincoln appointed Salmon P. Chase as chief justice of the Supreme Court. Early Marriage Troubles Kate and William Sprague’s first child and only son William was born in 1865.  By 1866, rumors that the marriage might end were quite public. William drank heavily, had open affairs, and was reported to be physically and verbally abusive to his wife. Kate, for her part, was extravagant with the family’s money. She spent lavishly on her father’s political career as well as fashion- even as she criticized Mary Todd Lincoln for her purported frivolous spending. 1868 Presidential Politics In 1868, Salmon P. Chase presided at the impeachment trial of President Andrew Johnson.  Chase already had his eye on the presidential nomination for later that year and Kate recognized that if Johnson was convicted, his successor would likely run as an incumbent, reducing Salmon Chase’s chances of nomination and election. Kate’s husband was among the senators voting on the impeachment. Like many Republicans, he voted for conviction, likely increasing tension between William and Kate.  Johnson’s conviction failed by one vote. Switching Parties Ulysses S. Grant won the Republican nomination for the presidency, and Salmon Chase decided to switch parties and run as a Democrat.  Kate accompanied her father to New York City, where the Tammany Hall convention did not select Salmon Chase. She blamed New York governor Samuel J. Tilden for engineering her father’s defeat. Historians deem it more likely that it was his support for voting rights for black men that led to Chases defeat.  Salmon Chase retired to his Edgewood mansion. Scandals and a Deteriorating Marriage Salmon Chase had become politically entangled with financier Jay Cooke, beginning with some special favors in 1862.  When criticized for accepting gifts as a public servant, Chase stated  that  a carriage from Cooke was actually a gift to his daughter. That same year, the Spragues built a massive mansion in Narragansett Pier, Rhode Island. Kate took many trips to Europe and New York City, spending heavily on furnishing the mansion. Her father wrote to her to caution her that she was being too extravagant with her husband’s money.  In 1869, Kate gave birth to her second child, this time a daughter named Ethel, though rumors of their deteriorating marriage increased. In 1872, Salmon Chase made yet another try for the presidential nomination, this time as a Republican.  He failed again and died the next year. More Scandals William Sprague’s finances suffered huge losses in the depression of 1873. After her father’s death, Kate began spending most of her time at her late fathers Edgewood mansion.  She also began an affair at some point with New York Senator Roscoe Conkling, with rumors spreading that her last two daughters were not her husband’s. After her father’s death, the affair became more and more public. With whispers of scandal, the men of Washington still attended many parties at Edgewood hosted by Kate Sprague. Their wives attended only if they had to. After William Sprague left the Senate in 1875, the attendance by the wives virtually ceased. In 1876, Kates paramour Senator Conkling was a key figure in the Senate’s deciding the presidential election in favor of Rutherford B. Hayes over Kate’s old enemy, Samuel J. Tilden. Tilden had won the popular vote. The Marriage Breaks Kate and William Sprague lived mostly separately, but in August of 1879, Kate and her daughters were at home in Rhode Island when William Sprague left on a business trip.  According to the sensational stories in the newspapers later, Sprague returned unexpectedly from his trip and found Kate with Conkling. Newspapers wrote that Sprague pursued Conkling into town with a shotgun, then imprisoned Kate and threatened to throw her out a second-floor window.  Kate and her daughters escaped with the help of servants and they returned to Edgewood. Divorce The next year, 1880, Kate filed for divorce. Pursuing a divorce was difficult for a woman under the laws of the time. She asked for custody of the four children and for the right to resume her maiden name, also unusual for the time. The case dragged on until 1882, when she won custody of their three daughters, with their son to remain with his father. She also won the right to be called Mrs. Kate Chase rather than using the name Sprague. Declining Fortune Kate took her three daughters to live in Europe in 1882 after the divorce was final. They lived there until 1886 when their money ran out, and she returned with her daughters to Edgewood. Chase began selling off the furniture and silver and mortgaging the home.  She was reduced to selling milk and eggs door to door to sustain herself.  In 1890, her son committed suicide at age 25, which caused Kate to become more reclusive. Her daughters Ethel and Portia moved out, Portia to Rhode Island and Ethel, who married, to Brooklyn, New York.  Kitty was mentally disabled and lived with her mother. In 1896, a group of admirers of Kate’s father paid the mortgage on Edgewood, allowing her some financial security.  Henry Villard, married to the daughter of abolitionist William Garrison, headed that effort. Death In 1899 after ignoring a serious illness for some time, Kate sought medical help for liver and kidney disease.  She died on July 31, 1899, of Bright’s disease, with her three daughters at her side. A U.S. government car brought her back to Columbus, Ohio, where she was buried next to her father.  Obituaries called her by her married name, Kate Chase Sprague. Legacy Despite her unhappy marriage and the devastation wrought on her reputation and clout by the scandal of her infidelity, Kate Chase Sprague is remembered as a remarkably brilliant and accomplished woman. As her fathers de facto campaign manager and as a central Washington society hostess, she wielded political power during the greatest crisis in United States history, the Civil War and its aftermath. Sources Goodwin, Doris Kearns. Team of Rivals: The Political Genius of Abraham Lincoln. Simon and Schuster, 2005.  Ishbel Ross. Proud Kate, Portrait of an Ambitious Woman. Harper, 1953.â€Å"Notable Visitors: Kate Chase Sprague (1840-1899).†Ã‚  Mr. Lincolns White House, www.mrlincolnswhitehouse.org/residents-visitors/notable-visitors/notable-visitors-kate-chase-sprague-1840-1899/.Oller, John. American Queen: The Rise and Fall of Kate Chase Sprague, Civil War â€Å"Belle of the North and Gilded Age Woman of Scandal. Da Capo Press, 2014

Recent trends in the use of money The history of the Canadian dollar Research Paper

Recent trends in the use of money The history of the Canadian dollar relative to its US counterpart Why is the Canadian dollar - Research Paper Example This focuses on the conversion of properties or money that one acquires unlawfully into a country’s money system. Several countries use their money to fund criminal activities such as terrorism to reduce the strengths of other countries’ currency especially through the destruction of markets. The aim of all unlawful acts is to generate financial gains. Consequently, the availability of the working capital is vital for the sustainability of the criminal and terrorist networks. For instance, the criminal tendencies such as the allocation of narcotics and arms require an international network that consists of marketers, manufactures, transportation, and personnel. The criminals receive pays in cash lest their activities are recognized through transaction records. Criminal activities focus on the utilization of money using various approaches. For instance, such activities use cash through the primary phases of money laundering such as placement of the criminal processes wit hin fiscal systems, layering money to hide original sources of the criminal activities, and incorporation into lawful economic markets like banks (Weld 1). The major criminal activities such as drug trafficking generate significant proportion of resources that boosts the country’s economy after integration into the legal markets. For instance, illegal tobacco business generates revenues of about 40.5 US dollars in the US. Some criminals especially terrorists do not integrate their money through the legal market systems because they can easily be traced. Consequently, they use the ethnic-based cash service enterprises such as those who operate travel agencies to launder funds. Additionally, such illegal businesses can reduce a country’s revenues. For instance, other recent criminal money use entails the use of fake money to get the legal currencies. This contributes to the reduction of the strength of the countries’ currencies. Other money laundering acts entail infusing unlawful money into the football sectors. These sectors are very attractive to criminals especially persons who intend to use their unlawful money (Weld 1). The history of the Canadian dollar relative to its US counterpart In 1971, the total exchange rate of the Canadian dollar against the US was approximately 1.22. The highest Canadian rate during this year was 1.60 while the lowest was 0.96. Between the 1971 and 2011, the lowest exchange rate of the Canadian Dollar against the US was in 1974. During this year, the average Canadian rate against the US was 0.98. Between 1971 and 2011, the highest exchange rate for Canada dollar was 1.57. This was in the year 2002 (Hummel 1). The current 12 month forecast of the Canadian and the US dollar indicates that the exchange rate for the Canadian dollar will be approximately 1.00 Canadian dollars to the US Dollar in future. This is because the coinage trend shows that the exchange rate can easily fall by 0.04 percent implying that th e Canadian currency rate would be 0.94 by November 2013 (Hummel 1). The exchange rate for the Canadian dollar in the year 2012 was approximately 0.99 in October. That is 0.7 point higher compared to October 2011. By September 2012, the rate escalated by 1.04. According to some economists, this is a minor movement, and if it continues, the immediate trend would be comparatively flat. The one year shows that the country’s exchange rate was 1.00 averagely. Moreover, the standard conversion rate of the last 10 years was 1.14. Reports also show a higher

The impotance of market structure to a firm Essay

The impotance of market structure to a firm - Essay Example It is likely that all the small firms have similar costs of production and this is shown in the cost curve named as ATCo. It is a natural process for one of them to become larger than others, and then it can produce items at a cost lower than others and then the cost curve for it may change to ATC'. This permits the larger firm to sell its products at a lower cost than others, and this hurts the other firms which are smaller as they incur losses at that price. It is not only development of production capacities that leads to this situation, and this concept of "natural monopoly" was first used to explain the development of the telephone industry in United States. (Microeconomics: Chapter 11) The situation in the early years was that most cities had more than one Telephone Company to provide telephone services. This was not an efficient operation as it required subscribers to contribute to the services of more than one company for getting a call through as the companies were not interconnected. Due to the fact that it was one of the first to start, Bell was larger than other companies. Since the cost of providing services to additional customers was relatively small, it was able to provide services to new customers at lower costs than others. ... The situation changed only at the end of the 20th century when the government decided to break up the company. This was believed to be a result of technological developments. (Microeconomics: Chapter 11) There are also other reasons for development of monopolies, and it happens in New Mexico due to the ownership of most known sources of desiccant clay by a single family. Even in the personal desktop industry, there are monopolies due to ownerships of software and chip technology. Monopoly also takes place due to high costs of investments for entering an industry and these come in various forms - high advertising costs for establishment of brand names, special purpose machinery needed for production, establishment of stocks at different levels for being able to make the goods available in the market, and so on. Patents and licenses are also methods of prevention of entry for new organizations, though there is justification for the provision of patents to ensure a return for research. At the same time, this permitted Polaroid to hold on to its business of instant film for a long time. (Microeconomics: Chapter 11) In UK, the distribution of industry was to a large extent controlled by the government and its public sector which changed through the privatization program that began in 1979. The first phase continued till 1983 and during this period, the government sold shares of organizations that were small in size and operating in competitive markets. The value received for the shares was more than the value of property sold, and at the same time, it reduced competition. There were some sales that did not affect competition, like the sales of more than one million publicly owned housing which gave the government a value of more than 15 billion pounds. The second phase

Economic Advantages and Disadvantages of a One Global Currency

Economic Advantages and Disadvantages of a One Global Currency Introduction The recent history of currency exchange rates includes 3 huge changes starting from the end of the XIX to the end of the XX century. Pure gold standard has been the basis for trading between nations during 1879 and 1914 (Abdel-Monem, n.d.). At the beginning of World War I, this standard ceased to exist and in 1920 countries permitted greater exchange rate flexibility (Jereissati, 1999), which however, did not last long and after the end of the World War II the Bretton-Woods system has been implemented. This standard has been created as a result of numerous meetings between the World War II winning states with the final conference taking place at the Hotel in Bretton Woods, New Hampshire. The standard took the name of this last conferences venue (Grabbe, 1996, as cited in Tucker, 2008). In August 15, 1971 Richard Nixon in his speech announced that the price of dollar will be no longer fixed against gold. This has put an end to the Bretton-Woods system and has set-off a new era in international monetary system. The main feature of this new system is that it is neither a pure gold standard nor a pure exchange rate float, but rather a system in between these two extremes (Meese, 1990). This standard exists until today and has been strongly undermined during the latest financial crisis. In this respect, the idea of having a single global currency is widely discussed as an alternative monetary system. This literature review outlines advantages and disadvantages of a single global currency. The Single Global Currency The Concept of a Single Global Currency Single global currency, as one can see from the example of Euro, signifies that countries, where this currency would be implemented, should be the members of a monetary union with one central bank, common currency, a coherent and binding financial policy. Scandinavian Currency Union (SCU), which included Denmark, Norway and Sweden, established a common currency unit, although central banks in each of those countries retained control over monetary policy and did not experience significant loss of independence (Bergman, 1999). The single global currency is a much more complicated issue. History recognizes a lot of monetary unions of different size, both formal and informal. However the most successful example came from the European Union, which is the Economic Monetary Union (EMU). There are also two proposed single currencies, which potentially may come near the Euro. They are the GCC monetary union currency and the Asian Monetary Unit. Economic Advantages of a Single Global Currency The advantages of a global currency are as follows. First of all, single currency will eliminate transaction costs, which are linked to international financial operations. This will affect both: ordinary citizens who plan to spend money abroad and multinational corporations undertaking international transactions. Different currencies create a lot of inconveniences and barriers. Exchanging one currency for another always involves currency exchange fees, as banks, which provide such currency exchanges, require commissions for their services. In the scale of countries or even monetary unions such expenditures on currency exchange fees may reach high amounts. By eliminating the need for currency exchange the monetary unions may save resources (Buiter, 1999, as cited in Bonpasse, 2008). For instance, the European Commission (EC) has estimated that due to a single currency across the European Union 13 to 20 billion of Euro were saved per year (Grauwe, 2007). Moreover the difference between the currencies exchange rates becomes an obstacle for a free flow of trade. As the barrier of different currencies will disappear, the number of international transactions will increase. Bordo and James (2006) said that neighboring countries, which are members of a common monetary union, tend to trade more frequently with each other. In a study conducted by Micco, Stein, and Ordonez (2003) they found out that trade between EU members increased by 8 to 16%, after EMU was created (as cited in Lane, 2006) Currency risks nowadays are one of the major disadvantages of the modern international financial system. Everything, ranged from a natural disaster to terroristic attack, may affect the value of the currency and as a result cause loss. Foreign investors, as well as stock holders, have to hedge their risk, which also demands additional expenditures. Implementation of the single global currency will eliminate the risk of loss, due to currency fluctuations. Moreover Bonpasse (n.d.) points out that the adoption of a single global currency will save 400 billion of US dollars annually in foreign exchange transaction costs, which come from trading 3.8 trillion US dollars every trading day. Currency misalignment is a process when central bank increases or decreases the value of its currency against another for different purposes. The most known cases of currency manipulation are the cases of China and Japan. Both countries artificially undervalued their currencies, which made their exports more competitive. As the value of Yen and Yuan decreases, the prices on Japanese and Chinese products will consequently fall. This has created a great advantage for Japanese and Chinese products in the market. Today the low value of these currencies, which has nothing to do with the real situation, has created huge difficulties for the economies of Europe and USA. Japan and China, based on all criteria related to the IMF definition, have been persistently manipulating their currencies to gain an unfair competitive advantage (Preeg, n.d.). Obviously with a single global currency, currency manipulation by individual countries would be impossible. Moreover there will be no need of such k inds of unfair methods. It is easy to perceive that problems of contemporary monetary system are currency rate fluctuations. As most of the currencies are free and are not fixed to any value, there is a huge possibility for currency speculations. For instance, speculative opportunities of FOREX market may have a great impact on economics of countries and their financial situation. The speculative attack on the Swedish Krona in 1992 is a perfect example. The Central Bank of Sweden had to raise the interest rate of its currency which caused devaluation of the Krona. Receiving income from currency speculations is getting money out of nothing. The next benefit from implementing a single global currency will be the elimination of currency speculations existence. The single global currency will present a different choice for speculators: if they wish to speculate, they will need to choose another commodity, as the money of the people will no longer be for sale (Bonpasse, 2006). Another problem of todays financial system is international reserves or foreign exchange reserves. As the possibility of a currency crash is high, due to currency risks and currency speculations, every country holds assets in various foreign currencies, which are considered as reserve currencies. Mainly it is the US dollar, not so often it is the Euro or the UK pound. However after implementing the single global currency, this hedging method will be unnecessary. As the central bank will abandon the foreign exchange reserves, it will save a considerable amount of money. In 1992 the European Commission estimated that the future Eurozone members might be able to reduce their total international reserves by one-half or $200 billion (Bonapasse, 2008). Disadvantages of a Single Global Currency Turning to disadvantages of a Global Currency, the most negative side of it is that countries will lose the ability to control their financial policy. Today every country is able to determine their monetary policy independently. In order to have an influence on the economy, nowadays central banks of every country through influencing exchange rates and adjusting interest rates, may increase or decrease economic activity. However in case of a single global currency, changes in a local countrys finances, will demand changes in the global scale. So with the Global Currency countries will lose flexibility in their monetary policy. A uniform policy template to provide macroeconomic stability, will constrain a countrys ability to make independent interest rates and exchange rate policy (Bonpasse, as cited in Wenzel, 2007, p17). Another significant disadvantage of having a Global Currency is connected with the difference in economies of different countries. While there are only a few developed states with strong economies, the rest of the countries of the world have rather weak economies, for instance the majority of African countries or some South American countries. In the world with a common currency, the weak economies shall pull down the rest, more well off countries. If one of the members will face a crisis, the others will have to spend their resources in order to stabilize the situation. A perfect example could be the debt crisis, which recently has occurred in Greece. While the EU/IMF bailout package wasnt enough, Germany had to loan about 110 billion Euros in order to save the country from bankruptcy. In addition the crisis had a chance to spread to other countries, as it reduced confidence in the economies of other EU members. Conclusion: Is The Single Global Currency Implementable? Global Currency as a financial system has been first mentioned back in the end of XIX century. The reasons why this system still has not been implemented are rather social and political, than economical. The first obstacle is national identity. Most of the nations consider their currencies as a national symbol, equal to the flag and the anthem. Obviously people will hardly discard their own national symbol, their source of pride. Some people are tempted to view such symbols as they do their flags and national constitutional documents, and the loss of such symbols can be considered as a national loss (Bonpasse, 2008). Just imagine how hard it will be for Americans to abandon dollar and accept a currency with absolutely neutral name and with neutral images and signs. In case of a Global Currency it should be absolutely neutral, as Euro is. Political barriers also should be taken in to account. In the conditions where political tensions between two countries are possible, implementing a single currency is a huge problem. For instance, it is difficult to imagine how USA, Democratic Peoples Republic of Korea and Iran, countries which have experienced significant political tensions, would negotiate in order to accept a single currency. Or it is difficult to say how it is going to work between countries which are in state of war like North and South Korea. In addition, due to political discords, such issues as supply and printing of the Global Currency would be problematic. As an independent central bank is demanded, the first dispute within the countries would be about the location of the central bank. Every member of the global monetary union would try to pull the blanket over. It is hard to believe that after gaining membership to the global monetary union, countries would not start attempting to gain greater influence o n the central bank and hence the monetary policy. Though the process of globalization seems to be unstoppable, we are still far away from being even close to a Global Currency. In my point of view, implementation of the single global currency can be compared to the legends about Eldorado or dreams of Utopia. There is no doubt that Global Currency has more benefits than costs. The loss of control of the monetary policy is a really low price for the other advantages of this idea. Throughout the history mankind tried to give birth to a global government. League of Nations and UN could serve as examples. Esperanto as a worldwide language also has been a great proposal, which could simplify the understanding between nations. But both concepts were not successful up to this time. Unfortunately the single global currency is an idea of such type. Although globalization and the Internet did bring people around the world closer to each other, maybe we are still to different to buy food with the same money. Maybe social and cultural difference s play much bigger role in our life, than we think. USSR made an effort of erasing these differences, but where is the USSR now?