The shipping industry of korea

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Shipping Industry of Korea

Introduction

Koreas shipbuilding technology has greatly developed over time. Back to the ancient time, the three kingdoms (Kokuryo, Paekche and Shilla) competitively extended their influence to sea trade routes in A.D. 7. By the mid th Century, they installed a trade centre in china.

In 1011, spear ships that prevented enemy ships from approaching were in use and warships equipped with gunpowder and firearms appeared by the year 1150.

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In 15, Admiral Yi Sun Shin built up his own navy and directed the construction of a fleet of modern warships including turtle ships to prevent Japanese further invasion. The turtle ship, so named due to its shape, was ringed with state-of-the-art military technologies at that time.

400 years later, today, Korea is identified as a priority market for the Marine Equipment Industry.

Many countries place great strategic importance on their national shipping industry because it plays a vital role in their economies. Maritime transport is essential to expanding world trade, as nearly 80% of the world trade in goods is seaborne. Korea is not an exception to this considering Korea is geographically surrounded by the sea on three sides.

160's

Foreign trade has been a crucial element in Koreas national development strategy. Until the 160s, however, the industry was small, rather unsophisticated, and catered mainly to the domestic market by building coastal fishing vessels and small cargo ships.

Since 16, Korean shipping policy has been aimed at expanding the national fleet. This was to support the export-oriented economic development by means of efficient shipping and the improvement of the business climate.

170's

The development of shipbuilding was followed further in the 170s by a government-sponsored economic program. The program was aimed to restructure Koreas dated industry into a modern, technologically advanced one, able to compete worldwide. Special emphasis was placed on Heavy Industry and Chemical Industry. In this context, the shipbuilding industry was perceived as a leading export industry, due to its comparatively large-scale trade volumes (in terms of value). There was also abundant, high-quality labor available in Korea. These factors allowed the Korean shipbuilding industry to compete on equal terms with the existing shipbuilding centers. Being surrounded by the sea on three sides and having few natural resources has meant that Korea has had to rely on exports.

The shipyard construction of the 170s reflects this growth - in 17 Hyundai Heavy Industries Co., Ltd. completed construction of a shipyard. In 178 Daewoo Shipbuilding and Marine Engineering Co., Ltd. completed a No. 1 dock, and in 17, Samsung Heavy Industries Co., Ltd. constructed its own No. 1 dock.

180's

In the 180s the situation had progressed sufficiently for Korea to be ranked number two in the world shipbuilding industry in terms of market-share. Productivity improvement, technology development, and the growth of related industries, helped increase shipbuilding volume continuously without having to add new facilities. And in the second half of the 180s, their world market share rose from 10 percent to 5 percent.

10's

In the 10s, Korean shipbuilders made every effort to accumulate the advanced technology required for the construction of high value added vessels. In the late 10s, Korean shipbuilders achieved great productivity improvement both in terms of yearly production volume per employee and yearly number of turnover of dry docks.

Shipbuilding Today

The Korean shipping industry is growing at an impressive rate. Starting out with a mere 100,000 G/T of fleet tonnage in 160, Korea was ranked eighth in the world in terms of total merchant fleet tonnage in 000. In the container sector, Korea stood fourth after Japan, Taiwan, and the United States.

According to the data released by KOSHIPA, new orders placed by Korean shipbuilders in 00 amounted to 7.6 million CGT. This is an increase of 18.5 % compared with 6.4 million CGT in the previous year.

With the productivity improvement and the upgrading of production technology along with sufficient workload, Korean shipbuilders built a record high of 6.8 million CGT in 00, up 5.% in tonnage terms over the previous year. In the interim, the order books as of the end of 00 recorded 17.1 million CGT, up 5.% compared to a year earlier. This is approximately a two and half year workload.

Shipbuilding Technology

Before entering into the world shipbuilding market in the early 170s, Korean shipbuilders had mostly built conventional cargo ships, such as crude oil tankers and dry bulk carriers. Since the early 180s when Korea emerged as one of the leading nations in shipbuilding, it has developed technologies to build container ships, " roll on �roll off " ships, oil drilling rigs, etc.

Computer-based ship design and production was introduced to the Korean shipbuilding industry in the 170s. As early as the 180s Korean shipbuilders had introduced commercial CAD system for ship design. Since then Korean shipbuilders have made significant advances in the enhancement of various kinds of CAD/CAM systems and have developed in-house software not only for ship design but also for production. In parallel to that, particular advances have also been achieved in non-CAD area supporting and utilizing CAD/CAM system respectively for engineering analysis and material control to increase productivity and quality.

Additional research is being carried out jointly with classification societies focusing on the safety issues raised in building new generation of ship types. Korean shipbuilders, with their abundant and highly trained naval architects and engineers, can meet various ship owner design requirements.

Growth of the Korean Ocean-going Merchant Fleet compared to the world

Table-1 shows the growth of the total capacity of the Korean fleet between 171 and 000. The capacity of the fleet measured in gross registered tons grew at an annual rate of 6.4 percent during this period. During the same period, the world merchant fleet, as shown in Table-, grew at an annual rate of only .8 percent. The rapid growth rate of the Korean fleet allowed it to expand its share of total world tonnage from 0.8 percent in 171 to 1.06 percent in 000.

Growth of the Korean Ocean-going Fleet by type

Table- presents data on changes in the composition of the Korean ocean-going fleet between 10 and 000. During the period, container ships and liquid bulkers expanded considerably. This expansion can partially be attributed to the recent tendency to increase the size of these ships. Considering that the total Korean fleet grew more rapidly than the world fleet has, this expansion is an indication that the development of a container and a liquid bulk fleet in Korea lagged behind the relative growth of the dry bulk sector of its merchant marine.

Growth of Seaborne Trade

Table-4 presents the data on changes in seaborne trade during the period between 170 to 000. Between 170 and 000 the growth of world seaborne trade increased by .6 percent per annum, while Korean trade increased annually by 11.1 percent. However, the growth of Korean seaborne trade seems to show the same pattern as the world trade. As the Table shows, the annual growth rate in the 180s declined to . percent for Korea and 1.0 percent for the world; and in the 170s from 15.4 percent for Korea and .8 percent for the world. The annual average growth rate again rose to 8.8 percent in Korean trade and .1 percent in world trade in 10s. With regard to seaborne trade, it is important to note that the growth of Korean participation in cross-trades outpaced the growth of Korean seaborne trade. As shown in Table-5, the total tonnage carried by the Korean operators in cross trades increased from only 5.4 million tons in 170 to 181.6 million tons in 000.

Korean Operators in 000 by ship's capacity

In the year 000 there were 61 separate ocean-going operators in Korea. However, as Table-6 shows, the four largest operators alone accounted for 7. percent of the total capacity. Thus, the Korean shipping industry appears to have a dualistic structure, with half of its capacity in the hands of a few large carriers and the other half split amongst a multitude of small carriers. At one extreme there are Hanjin Shipping and Hyundai Merchant Marine, which accounted for 51.4 percent of total tonnage in 000. At the other extreme there are 51 small operators, each possessing less than 100,000 gross tons of shipping capacity, which in 000 accounted for only 8.0 percent of the total capacity.

Korean shipping companies earned $11. billion in freight revenue in 000, up from $.5 billion in 10, an average annual growth rate of 1.5 percent, thanks to the escalation of freight rates and increased seaborne cargo. Revenue from cross-trade increased to $6.0 billion in 000 from $1.4 billion in 10, making up 58. percent of the industrys total revenue. This growth is attributable to companies strengthening business activities through strategic overseas alliances and diversifying into the worldwide service and the pendulum service. In particular, revenue from container cargo increased steadily among the export-import goods; iron ore and grain cargo gradually increased as well.

Freight Revenue Trends by Cargo

Reflecting this bright situation in freight revenue, the overall financial position of the Korean shipping industry improved steadily from 1 to 15. The industry was continuously in the black from 188 to 15. In 17, however, the industry experienced a slump in net profits due to a plunge in fare prices and the economic turmoil in Asia.

The Korean Shipping industry has considerable know-how in all aspects of maritime transport services, such as management techniques, cargo collection, and customer service. And taking into consideration that it has a good merchant fleet, marine manpower, advanced shipbuilding techniques and its position at the hub of northeast Asia, the growth potential of Korean maritime industry seems large. Thus, after enduring tough periods arising from the worldwide excess of shipping tonnage and world economic/financial turmoil, the Korean Shipping industry is now expected to continue to grow, building upon its recovery which began in 1, as the world shipping industry recovers and cargo volumes rise. Thus, it is forecasted that Korea's export and import cargo volume will rise to 8. millions tons in 010 from 56. million tons in 001, and Korean commercial vessel tonnage will grow to 1.5 million GRT.

National Deregulation Policies

Starting in 10, the Korean government has steadily introduced liberalization and deregulation policies in the shipping industry, guaranteeing liberalization in the private sector and opening the domestic market to foreign carriers for the purpose of corresponding with the trends of globalization.

As a result of these efforts, Korean shipping industry is now largely liberalized due to the elimination of almost all trade barriers in maritime transport services. Accordingly, the Korean government understands it can no longer foster the growth of the shipping industry through protective policies. Liberalization measures have included the following

• Foreign carriers were allowed to establish branches in Korea (January 18).

• Foreigners were allowed to invest in shipping auxiliary services, including maritime agency service and maritime freight forwarding service (June 1).

• In the case of the cargo reservation system for non-liner shipping, the number of items on the designated cargo list has been gradually reduced from the original 11 to (items were already removed from the designated cargo list government procurement goods, refrigerated goods, cement, steel products, raw material for fertilizer, grain, coal and petrochemicals).

• The Waver System in liner shipping has been eliminated, allowing free access to the Korean market by foreign carriers (January 15).

• The licensing system of ocean-going shipping was transformed into the filing system, maintaining the policy of gradual liberalization the shipping industry (in 16)

• The Designated Cargo System was abolished entirely (in 1).

Korean Shipbuilders Advantages

Korean shipbuilders have the worlds most efficient steel producer (POSCO), which can provide cheaper and better quality of steel products than any other steel producer. Korean shipyards are based in the same area as POSCO, which is a vital condition for efficient operations. Tougher and stricter environmental rules could also be beneficial as world shipping and oil majors need to replace their single-hulled tankers with double-hulled ships. In addition, new environmental measures will increase demand for more clean energy such as liquefied natural gas (LNG), which in turn will raise demand for LNG tankers. Steady growth of world trade will increase the need for larger container ships, where Korean shipbuilders are strong and competitive.

Major Shipbuilders in Korea

1) Hyundai Heavy Industries Co. Ltd

Hyundai Heavy Industries Co. Ltd is the worlds largest shipyard

HHI is very active in the military business and was selected as the main contractor in Koreas submarine project (KDX-II) in 001.

In addition, HHI have become the first shipyard in Korea to build both moss-type and membrane �type LNG carriers. The membrane-type LNG carrier is the world's largest LNG carrier of this type, made up of four independent tanks insulated with polyurethane panels.

) Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME)

DSME has successfully completed its restructuring scheme and graduated from the workout program in August 001

) Samsung Heavy Industries

4) Hanjin Heavy Industries & Construction Co., Ltd.

Hanjin Heavy Industries & Construction Co., Ltd. is a subsidiary of Hanjin Business Group and a sister company of Korean Air

5) STX Shipbuilding Co., Ltd

STX Shipbuilding Co., Ltd (formerly Daedong Shipbuilding)

6) Hyundai Mipo Dockyard Co., Ltd.

Hyundai Mipo Dockyards has built 70 petrochemical product carriers since their establishment and has become the unrivalled shipbuilder in this field in the world market.

Competitions

Chinese shipbuilders, who have been taking rapid strides on the global market, are emerging as rivals for the world's leading shipyards in Korea and Japan. Chinese dockyards received record orders during the first five months of this year, including oil tankers, and container and bulk carriers.

According to British shipping industry research firm Lloyds, China grabbed 1.6 percent of the global shipbuilding market last year, up from 11. percent in 001, 5.6 percent in 000 and .5 percent in 18.

At this stage, Korean and Japanese shipyards are ahead of their Chinese counterparts in technology and production capacity. But domestic shipbuilders are afraid that China will chip away at their market share in the future.

China is estimated to be seven to eight years behind Korea in shipbuilding technology for LNG carriers and an average five years for other ship types.

Out of fear over China's rapid emergence as a global shipbuilding powerhouse, Korea's big three shipbuilders _ Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries _ have been reluctant to form partnerships with Chinese shipyards for technology transfer

Conclusion

In the 1st century, Korean shipbuilders are seeking to transform quantitative into a qualitative growth, and are focusing on producing high value-added ships, which offer greater profitability. To fulfill their responsibilities as a leading shipbuilding country, Korean shipbuilders will also do their best to develop new technology for qualified ships and deliver environmental-friendly ships. For the prevention of global warming, a new ship type and FSO for carrying or storing liquefied carbon dioxide (LCD) are expected to be required, of which sector world shipbuilders should take full attention.

Table-1 Growth of the Korean Ocean-going Merchant Fleet

Year No. of Ships Tonnage % Change

171 7 40 -

180 1,46 4,44 18.5

10 ,114 7,86 6.1

000 ,417 5,75 -.1

Unit thousand gross tons

Source Lloyds World Fleet Statistics, 000

1) Percent change annual average increase rate

) Annual average increase rate during 171-000 6.4%

Table- Growth of the World Merchant Fleet

Year No. of Ships Tonnage % Change

171 55,041 47 -

180 7,8 40 6.1

10 78,01 46 0.1

000 86,817 54 .7

Unit million gross tons

Source Lloyds World Fleet Statistics, 000

1) Percent change annual average increase rate

) Annual average increase rate during 171-000 .8%

Table- Growth of the Korean Ocean-going Fleet by Type

Type 10 10 000 000 %

Tonnage share Tonnage share change

General Cargo Carrier 161 1.8 8 . .4

Log Carrier 14 1.6 4 .5 11.5

Dry Bulker 6,15 68.7 5,571 46.0 11.5

Container 1,408 15.6 ,5 1.5 6.

Liquid Bulker 8 10. 1,0 10.7 .6

Others 18 1.5 1,84 15.0 .5

Total ,05 100.0 1,104 100.0 .

Unit thousand gross ton, %

Source Korea Shipowners Association

Table-4 Growth of Seaborne Trade

Unit million tons, %

Year Korean World

volume percent volume percent

170 .4 - ,48 -

180 4.0 15.4 ,606 .8

10 6.7 . ,77 1.0

000 58.6 8.8 5,74 .1

170-000 11.1 .6

Source Korea Shipowners Association, Fearnleys

Table-5 Growth of Korean Participation in Cross-Trades

unit million tons, %

Year Volume Percent Change

170 5.4 -

180 11.4 7.8

10 1.6 10.7

000 181.6 1.1

170-000 1.4

Source Korea Shipowners Association

Table-6 Korean Operators in 000 by Ships Capacity

Capacity Number of Total Capacity % of Total

1,000s of G/T operators 1,000s of G/T Fleet Capacity

over ,000 6,17 51.4

1,500-,000 - - -

1,000-1,500 ,60 1.5

500-1,000 1,518 1.5

100-500 4 804 6.6

less than 100 51 6 8.0

Total 61 1,104 100.0

Source Ministry of Maritime Affairs of Fisheries

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Philosophy

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Philosophy

Philosophy has come a long way. There have been many philosophers who have come and gone teaching the ways of many different views in philosophy. This Paper will do its best in writing about five of the best philosophers in history. Aristotle, Socrates, Plato, Descartes, Mills, are the five that are thought of being among the best.

Socrates was born about 10 years after the Battle of Salamis. His father, Sophronisus, was a friend of the family of Aristides, the founder of the Delian League, empire arose. The philosopher's mother, Phaenarete, acted as a "midwife". Socrates married late in life, Xantippe (Xanthi), whom he left three sons. One an infant. When his son Lamprocles got angry because of his mother's temper, Socrates taught him to be grateful for all the gifts a mother has given to child. Socrates was a good warrior; his outward appearances were grotesque, stout and with prominent eyes, snub nose, broad nostrils and wide mouth. "Intellectually the acutest man of his age, he was himself the dullest person and morally the purest. He had an ardent and amorous temperament. He liked to spend all his time in the streets, marketplace, and more particularly, gymnasia. He cared little for the country. He also talked freely to politicians, poets, and artisans about various subjects, of their notions, of right and wrong, familiar matters of their interest. Socrates, as a young man, was enthusiastically interested in "natural science", and so, familiarized himself with the nature.(Tredennick 6) That "Mind" is the source of all cosmic order because this meant, "everything is ordered as its best, as it should be" that the universe is a rational teleological system. He loved the "ethical", character and conduct both private and public, with "nature" at large. He was one of the eminent philosophers who believed in God and acknowledged his sovereignty. He practiced self-denial, repressed his appetites for sensual desires and turned away from material pleasures. He went to the mountains where he dwelt in cave. He dissuaded men from worshipping idols and taught them the way to God, the Lord of Mercy, until the ignorant rose up against him. They arrested him and put him in prison to death. (Tredennick 0) What a penetrating vision of philosophy this eminent man had! He is most distinguished of all philosophers and was well versed in wisdom. He had a profound knowledge of such sciences as were current amongst men and their minds. The sophists taught eristics or the skill of clever debate which aimed at winning arguments and legal battles at any cost and with little concern for the truth. The sophists were both scorned and sought after. Socrates' dialectical question / answer method was confused with the bellicose debate of the sophists. Socrates suggests that there will be no cessation of such troubles until philosophers become the rulers or the rulers pursue philosophy. The guardians must be the wisest. Socrates exhorts his listeners to keep their souls unspotted and follow the upward way in pursuing justice with wisdom, so that they will be dear to the gods in this life and the next. (Scott 87)

Plato was born around the year 48 BCE into an established Athenian household with a rich history of political connections including distant relations to both Solon and Pisistratus. Plato's parents were Ariston and Perictone, his older brothers were Adeimantus and Glaucon, and his younger sister was Potone. In keeping with his family heritage, Plato was destined for the political life. (Pappas 6) The biographical tradition is unanimous in its observation that Plato engaged in many forms of poetry as a young man, only later turning to philosophy. Aristotle tells us that sometime during Plato's youth the philosopher-to-be became acquainted with the doctrines of Cratylus, a student of Heraclitus, who, along with other Presocratic thinkers such as Pythagoras and Parmenides, provided Plato with the foundations of his metaphysics and epistemology. Upon meeting Socrates, however, Plato directed his inquiries toward the question of virtue. The formation of a noble character was to be before all else. Indeed, it is a mark of Plato's brilliance that he was to find in metaphysics and epistemology a host of moral and political implications. How we think and what we take to be real having an important role in how we act. Thus, Plato came to believe that a philosophical comportment toward life would lead one to being just and, ultimately, happy. It is difficult to determine the precise chain of events that led Plato to the intricate web of beliefs that unify metaphysics, epistemology, ethics and politics into a single inquiry. In what appears to be a matter of guilt-by-association, a general prejudice was ultimately responsible for bringing Socrates to trial in on the charges of corrupting the youth, introducing new gods into the city, atheism, and engaging in unusual religious practices. During his trial, which is documented in Plato's Apology, Socrates explained that he had no interest to engage in politics, because a certain divine sign told him that he was to foster a just and noble lifestyle within the young men of Athens. This he did in casual conversations with whomever he happened to meet on the streets. When Socrates told the court that if set free, he would not stop this practice, claiming that he must follow the voice of his god over the dictates of the state, the court found him guilty (though by a narrow margin), and he was executed one month later. This final sequence of events must have weighed heavily on Plato, who then turned away from politics, somewhat jaded by the unjust behavior of the Thirty, disappointed by the follies of the democracy, and forever affected by the execution of Socrates. Whether or not Plato began to write philosophical dialogues prior to Socrates' execution is a matter of debate. But most scholars agree that shortly after Plato began to write extensively. Although the order in which his dialogues were written is a matter of strong debate, there is some consensus about how the Platonic corpus evolved. This consensus divides Plato's writings into three broad groups. The first group, generally known as the "Socratic" dialogues, was probably written between the years and 87. These texts are called "Socratic" because here Plato appears to remain relatively close to what the historical Socrates advocated and taught. (Pappas 7) One of these, the Apology, was probably written shortly after the death of Socrates. The Crito, Laches, Lysis, Charmides, Euthyphro, Hippias Minor and Major, Protagoras, Gorgias and Ion, were probably written throughout this twelve year period as well, some of them, like the Protagoras and Gorgias, most likely at its end. Plato was forty the first time he visited Italy. Shortly thereafter, he returned to Athens and founded the Academy, located nearly a mile outside the city walls and named after the Attic hero Academus. The Academy included a nice grove of trees, gardens, a gymnasium and many shrines including one dedicated to Athena herself, the goddess of the city. Plato created his own cult association, setting aside a portion of the Academy for his purposes and dedicating his cult to the Muses. Soon this 'school' became rather well-known on account of its common meals and sympotic lifestyle, modified, of course, to suit a new agenda. Indeed, Plato's Academy was famed for its moderate eating and talks as well as all the appropriate sacrifices and religious observances. Overshadowing all of that was, of course, its philosophical activity. We know little of the remaining thirteen years in Plato's life. Probably sick of his wanderings and misfortunes in Sicily, Plato returned to the philosophical life of the Academy and, most likely, lived out his days conversing and writing. During this period, Plato could have written the so-called "later" dialogues, the Parmenides, Theatetus, Sophist, Statesman, Timaeus, Critias, Philebus and Laws, in which Socrates plays a relatively minor role and the metaphysical speculation of the "middle" dialogues is meticulously scrutinized. Plato died in 47, leaving the Academy to Speusippus, his sister's son. The Academy served as the model for institutions of higher learning until it was closed by the Emperor Justinian in 5 CE, almost one thousand years later.Write my Essay on Philosophy

Aristotle was born at Stagira, a Macedonian city two hundred miles to the north of Athens in the year 84 B.C. His father was the friend and physician to the king of Macedon, Amyntas. Aristotle was brought up in the odor of medicine, though many other philosophers were brought up in the odor of sanctity. There are many stories of Aristotle. One story takes him to Athens at the age of eighteen and puts him under the teachings of the great master, Plato. But even this likelier account there is sufficient echo of a reckless and irregular youth, living rapidly. (Durant 4) The reader may console himself by observing that in the story the philosopher anchors at last in the quiet groves of the academy. Under Plato he studied eight or twenty years. One would like to imagine these as very happy years; brilliant pupils guided by an incomparable teacher, walking like Greek lovers in the gardens of philosophy (Durant 4). But they were both geniuses, and it is notorious that geniuses accord with one another as harmoniously as gasoline and fire. Almost half a century separated them; it was difficult for understanding to bridge the gap of years and cancel the incompatibility of souls (Durant 50). While under Plato, Aristotle spent a lot of money on books, or in those days, manuscripts. He was the first, after Euripides, to gather a library. Plato spoke of Aristotle's home as "the house of the reader". The work of Aristotle was great. So great that it was not hard for him to find pupils. He eventually established a school called the Lyceum. This school was devoted to mathematics and speculative and political philosophy. The Lyceum was also attentive to science and biology. If we may believe Pliny, Alexander instructed his hunters, gamekeepers, gardeners, and fishermen to furnish Aristotle with all the zoological and botanical material he might desire (Durant 5). Another writer had many believe that he had over a thousand men scattered through out Greece and Asia collecting specimens. It makes you wonder where he got all the funds for this. Well, by the time this came about, Aristotle was a wealthy man. He had married into one of the most powerful men in Greece, Athenaeus. It was said that Alexander had given Aristotle some 800 talents, which would equal up to about four million dollars. Yet we should do Aristotle injustice if we were to ignore the almost fatal limitations of equipment which accompanied these unprecedented resources and facilities (Durant 54). He was compelled "to fix time without a watch, to compare degrees of heat without a thermometer, to observe the heavens without a telescope, and the weather without a barometer….Of all our mathematical, optical and physical instruments he possessed only the rule and compass, together with the most imperfect substitutes of some few others. Chemical analysis, correct measurements and weights, and a thorough application of mathematics to physics, were unknown. The attractive force of matter, the law of gravitation, electrical phenomena, the conditions of chemical combination, pressure of air and its effects, the nature of light, heat, combustion, ect., in short, all the facts on which the physical theories of modern science are based were wholly, or almost wholly, undiscovered."(Durant 55) The first great distinction of Aristotle is that almost without predecessors, almost entirely on his own he created a new science, logic. Logic simply means the art and method of correct thinking. In politics, Aristotle was conservative because of the turmoil and disaster that had come out of Athenian democracy. Like any other scholar or philosopher, he wanted peace, order, and security.

The first great philosopher of the modern era was RenDescartes, whose new approach won him recognition as the progenitor of modern philosophy. Descartes's pursuit of mathematical and scientific truth soon led to a profound rejection of the scholastic tradition in which he had been educated. Much of his work was concerned with the provision of a secure foundation for the advancement of human knowledge through the natural sciences. Fearing the condemnation of the church, however, Descartes was rightly cautious about publicly expressing the full measure of his radical views. The philosophical writings for which he is remembered are therefore extremely circumspect in their treatment of controversial issues. After years of work in private, Descartes finally published a preliminary statement of his views in the Discourse on the Method of Rightly Conducting the Reason 167. Since mathematics has genuinely achieved the certainty for which human thinkers yearn, he argued, we rightly turn to mathematical reasoning as a model for progress in human knowledge more generally. Expressing perfect confidence in the capacity of human reason to achieve knowledge, Descartes proposed an intellectual process no less unsettling than the architectural destruction and rebuilding of an entire town. In order to be absolutely sure that we accept only what is genuinely certain, we must first deliberately renounce all of the firmly held but questionable beliefs we have previously acquired by experience and education. At the outset of the Third Meditation, Descartes tried to use this first truth as the paradigm for his general account of the possibilities for achieving human knowledge. In the cogito, awareness of myself, of thinking, and of existence are somehow combined in such a way as to result in an intuitive grasp of a truth that cannot be doubted. Perhaps we can find in other cases the same grounds for indubitable truth. But what is it? The answer lies in Descartes's theory of ideas. Considered formally, as the content of my thinking activity, the ideas involved in the cogito are unusually clear and distinct.( Haldane and Ross 4) But ideas may also be considered objectively, as the mental representatives of things that really exist. According to a representative realist like Descartes, then, the connections among our ideas yield truth only when they correspond to the way the world really is. But it is not obvious that our clear and distinct ideas do correspond to the reality of things, since we suppose that there may be an omnipotent deceiver. In some measure, the reliability of our ideas may depend on the source from which they are derived. Descartes held that there are only three possibilities all of our ideas are either adventitious (entering the mind from the outside world) or factitious (manufactured by the mind itself) or innate (inscribed on the mind by god). But I don't yet know that there is an outside world, and I can imagine almost anything, so everything depends on whether god exists and deceives me.(Ariew )

The son of James Mill, a friend and follower of Jeremy Bentham, John Stuart Mill was subjected to a rigorous education at home he mastered English and the classical languages as a child, studied logic and philosophy extensively, read the law with John Austin, and then embarked on a thirty-five career with the British East India Company at the age of seventeen.(Kemerling) Despite such a rich background, Mill credited the bulk of his intellectual and personal development to his long and intimate association with Harriet Hardy Taylor. They were devoted friends for two decades before the death of her husband made it possible for them to marry in 185; she died in Avignon six years later. Mill continued to write and to participate in political affairs, serving one term in Parliament. Philosophically, Mill was a radical empiricist who held that all human knowledge, including even mathematics and logic, is derived by generalization from sensory experience. In A System of Logic, Ratiocinative and Inductive he explained in great detail the canons for reasoning inductively to conclusions about the causal connections exhibited in the natural world.(Kemerling) Mills moral philosophy was a modified version of the utilitarian theory he had learned from his father and Bentham. In the polemical Utilitarianism Mill developed a systematic statement of utilitarian ethical theory. He modified and defended the general principle that right actions are those that tend to produce the greatest happiness of the greatest number of people, being careful to include a distinction in the quality of the pleasures that constitute happiness.(Kemerling) There Mill also attempted a proof of the principle of utility, explained its enforcement, and discussed its relation to a principle of justice. Mills greatest contribution to political theory occurs in On Liberty, where he defended the broadest possible freedom of thought and expression and argued that the state can justify interference with the conduct of individual citizens only when it is clear that doing so will prevent a greater harm to others. Mill also addressed matters of social concern in Principles of Political Economy and Considerations on Representative Government and eloquently supported the cause of womens rights in The Subjection of Women. Mills Utilitarianism is an extended explanation of utilitarian moral theory. In an effort to respond to criticisms of the doctrine, Mill not only argued in favor of the basic principles of Jeremy Bentham but also offered several significant improvements to its structure, meaning, and application. Although the progress of moral philosophy has been limited by its endless disputes over the reality and nature of the highest good, Mill assumed from the outset, everyone can agree that the consequences of human actions contribute importantly to their moral value. Against those who argue that the utilitarian theory unreasonably demands of individual agents that they devote their primary energies to the cold-hearted and interminable calculation of anticipated effects of their actions, Mill offered a significant qualification.(Kemerling) Precisely because we do not have the time to calculate accurately in every instance, he supposed, we properly allow our actions to be guided by moral rules most of the time. Partly anticipating the later distinction between act and rule utilitarianism, Mill pointed out that secondary moral principles at the very least perform an important service by providing ample guidance for every-day moral life. Finally, however, he emphasized that the value of each particular action�especially in difficult or controversial cases�is to be determined by reference to the principle of utility itself. Mill argued that social applications of the principle of utility are fully consistent with traditional concern for the promotion of justice. Justice involves respect for the property, rights, and deserts of individual citizens, along with fundamental presumptions in favor of good faith and impartiality. All of these worthwhile components of justice are adequately preserved by conscientious application of the principle of utility, Mill supposed, since particular cases of each clearly result in the greatest happiness of all affected parties. Although a retributive sentiment in favor of punishing wrong-doers may also be supposed to contribute to the traditional concept of justice, Mill insisted that the appropriately limited use of external sanctions on utilitarian grounds better accords with a legitimate respect for the general welfare. Mill also pointed out that the defence of individual human freedom is especially vital to living justly, but that had been the subject of another book.(Kemerling)

These philosophers have paved the way for newcomers and have pretty much raised the bar. Each philosopher,though, has their own perspective on life and different subjects, but they all have the same idea on preaching the gospel. They have done a great job giving people a reason to think about something deeper rather than giving a simple answer. They also give people the idea to ask questions to go deeper into an answer of a certain question.

Works Cited

Pappas, Nickolas. Routledge Philosophy Guidebook to Plato and the Republic. London; 15.

Haldane, E.S. and G.T.R. Ross. The Philosophical works of Descartes. Cambridge; 18.

Durant, Will. The Story of Philosophy. New York; January 15.

Ariew, Roger. Rene Descartes, Philosophical Essays and Correspondence. Hackett Publishing; March 000.

Tredennick, Hugh. Plato, The Last Dyas of Socrates. Penguin/Puffin Market; August 17.

Scott, Gary Alan. Does Socrates have a method? Rethinking the Elenchus in Plato's Dialogues and Beyond. Penn State; 00.

Sallis, John. Chorology On Beginning Platos Timaeus. Indiana University; October 1.

Kemerling, Garth. "John Stuart Mills." Philosophy Pages.

5 March 00.

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Australian dollar boom

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What are the factors which have caused the relative strengthening of the Aussie Dollar?

The Australian dollar gains its highest level in more than five years. In April 001, the Aussie dollar began the climb from a low of US Dollars 0.47. In July this year, it peaked at US Dollars 0.687. This climb that the Aussie dollar is in is happening due to many factors, some of these factors are internal that happened due internal causes such as

• Government policies.

• Strong Housing cycle.Cheap University Papers on Australian dollar boom

Or due to external factors which are factors that are caused by policies of countries that are directly related to the Australian economy or global or regional markets

• Government policies

The RBA "Reserve Bank Board" major responsibilities are to determine the banks monetary and banking policies. However, since banks are considered a key player in money exchange within the economy that is due to the facts that majority of businesses and people deposit at banks and so with those deposits, the banks overall behavior can influence the quantity of deposits in the economy and there for the money supply. So the RBA major job is to determine monetary policy for the banks and the overall banking sector.

What monetary policy means is the management by the central bank of liquidity conditions in the economy. That is the price and availability of funding for the economy's expenditure. The objectives of monetary policies are to contribute stability of the currency, the maintenance of full employment, and the economic prosperity and welfare of the people of Australia. (J.Gans, S.King, R.Stonecash & G.Mankiw, 000)

The long-run objective of monetary policy is to influence the rate of growth in the economy and the level of prices. When the overall economic growth is too fast, this put pressure on prices so the RBA will implement a tightening of monetary policy to slow the economy. But when the economy is experiencing slow growth, the RBA will implement expansionary monetary policy.

However, the RBA influence the liquidity or the amount of cash in the economy by buying and selling government securities. If the RBA decides to change the amount of cash in the economy, it can either purchase government securities from financial institutions or sell them to financial institutions in the nation's bond market.

Such policies like monetary policy the RBA conducts within the economy, this is considered an important cause to the strength of the overall dollar power within the economy and overseas markets. When the RBA control the liquidity of money within the economy, that for sure would increase the credibility of the overall Australian market and so that would attract overseas investments that is due to the stability within the economy and the country currency.

Fiscal policy is the use of government taxing and spending powers to affect the behavior of the economy. The economys total output, income and employment levels are directly related to total private and public spending or aggregate demand. Private pending consists of purchases of goods and services by consumers, by businesses for investment, and net exports (exports minus imports). For their part, governments raise revenues from taxes such as the income tax, sales taxes and payroll taxes, and from other sources to spend on such things as health care, education, pensions, social assistance, and defense (P.Grdy, 18)

So when any government implements such policy like the fiscal policy, the overall market will keep on being managed to maintain stability.

• Strong Housing cycle

Australia's continuing growth is considered a good sign of overall growth within the Australian economy. A strong housing cycle which is caused by the Australian government first home owners' scheme whereby first home owners were awarded grants between AUD 7,000 -14,000 to purchase homes.

The current explosive expansion of house building and buying is happening because of the fact that any person can borrow as much as he like provided that he can afford to pay the interest rates. However, over the last decade, the ratio of household debt to household annual disposable income has gone from 56 per cent to 15 per cent.

What did most to faster the remarkably extended boom in lending for housing and house prices was the return to low inflation. This permitted Australians households roughly to double their borrowing without mortgage payments getting more burdensome.

For decades Australians had wanted to borrow more for housing, but couldn't do so because of the limits on bank lending and because nominal interest rates were too high. And so with such a boom in borrowing or lending money from banks and financial institutions, the building industry will boom too and exporters for products that are needed will benefit and most important this will reflect how the over all domestic growth within the economy is high and so that would attract overseas investments and so that would help to give the dollar a push.

• External factors

One aspect of Australia's recent economic performance that has received favorable comment is the behavior of the exchange rate. When the American crisis erupted, the exchange rate fell so that at its low it had fallen by a very significant amount. Unlike a number of countries in the region, interest rates were not raised to defend the exchange rate.

The Australian dollar is strengthening against most currencies, but the most watched currency is the US dollar. The Australian dollar hasnt been so much out performing; rather the US dollar has been under performing, which is consistent with the US domestic economy.

The Australian economy has outperformed the US economy, but with the Australian economy being so small, there are other factors at play.

The major factor is the yield differential between the two countries. Australia's official interest rate is 4.75 per cent, whereas in the US it is 1 per cent. That is a .5 per cent interest rate difference, which creates demand for the Australian dollar.

The fact the Australian Reserve Bank did not cut interest rates increased the demand for Australian dollars. Investors are choosing to invest in Australian fixed income securities as they are giving a higher return than their US counterpart. Also Australia offers economic and political stability, which should support the Australian dollar at this level.

We have tended to exaggerate the size of the fall in the Australian dollar by looking only at the Australian dollar/US dollar rate. At least half of the story was that the US dollar strength rather than Australian dollar weakness.

What has been the impact on the Australian economy and which industry sector have been affected most and why?

A) Australias economic performance is expected to keep as one of the strongest economies of the developed world in 00 and 004.

Despite a very weak and uncertain international economy, the Australian economy is expected to grow by a per cent in 00.With such high expectations compared to other advanced economies such as the US the European Union and Japan, the over all performance of the economy would appear in a good form. First quarter figures from the Australian Bureau of Statistics shows how the Australian economy performed well during the first quarter of this year despite the weak economic conditions worldwide.

Figures show that the economy expanded by 0.7 per cent compared to 0.4 per cent in 4th quarter of 00. However, annual growth slowed to . per cent from .0 per cent

Australian GDP grew by up to .0 per cent over the year 00. However when comparing GDP between Australia and the US would show how the Australian economy is as strong as the US whose GDP is currently at . per cent. . ( Thecourrer-mail, 00 )

However, there are many factors that affect the overall GDP result. In Australia, the net exports have affected the over all economic growth within the country that is exporters have suffered from a weak world economy and the rise of the Australian dollar exchange rate. Meanwhile Australian imports have grown quickly due to the strong domestic economy

The Australian economy has attracted a fair bit of favorable attention because it has performed so well during the global financial crises. This is because the good performance of the Australian economy is not just a recent event, but something that has been unfolding over the past decade.

B) -1- Companies and businesses that are highly dependable on their exports are most affected. The cheap Australian dollar has been an important contributor to most of Australians exporters. The value of exports rose 1% in 000-01, to 15.4billion. Exports of primary products rose %, exports for manufactures rose 16% and exports for services rose 16%. (J.Kavanagh, 00)

With such high currency of the Aussie dollar, exporters expect less income and local companies expects higher competition from importers.

Australia is a major exporter of agricultural products, minerals, metals, and fossil fuels. Commodities account for 57% of the value of total exports, so that a downturn in world commodity prices can have a big impact on the economy. The government is pushing for increased exports of manufactured goods, but competition in international markets continues to be severe. And so local manufacturers that exports their good are expected to gain less market share overseas due to the high exchange rate of the Australian dollar and so that will for sure affect the way these companies explore the international markets which would be different than when the dollar was week.

The effect of big exporters is hard to assess. Big exporters are operating on long term contracts and use currency hedging would be highly affected with any fluctuation of the dollar currency so their earnings. With the higher value of Australias dollar, exporters will suffer more because major commodities prices are set in US dollars.

-- A strong Australian dollar is considered a real threat for the overall tourism industry. While many industries will be affected adversely by the strong Aussie dollar others will gain more profits from such high dollar like companies that export their products overseas.

Tourism plays a key role in the Australian economy, employing six percent of Australia's workforce and accounting for $1 billion or 4.5 percent of Australia's gross domestic product (GDP) in 001-0.

In 00, the number of international visitors to Australia totaled 4.8 million, representing a 0. percent decrease compared to 001. (Buyusa, 00)

For people coming to Australia a weak Australian dollar presents a real opportunity for the overall truism industry that is international visitors can get better value fro their dollar. But with such strong dollar with a high exchange rate, international visitors are less likely to come to Australia due to the low value there local currency can be changed with the Aussie dollar.

In 00, international travel to Australia is forecast to fall by 5. percent to approximately 4.6 million visitors, the lowest since 1. A number of factors have caused the decrease in international travel demand to Australia, including the terrorism events of September 11, high aussie dollar, the October 00 terrorist bombing in Bali ,the Iraq war and SARS.( Buyusa, 00)

What effects has a strengthening dollar had on the ways in which public companies market their products overseas?

For an exporter a weak dollar means that the price of the Australian products is more competitive. On the other side a strong dollar means that the exports became more expensive and thus impact on a country's competitiveness and profitability. Exporters in different industry sectors have been impacted by the recent strengthening of the Australian dollar. Parker (00) says that "whatever the cause (of the strengthening of the dollar), the currency's relative strength is bad news for exporters. Anecdotal evidence, however, indicates that few exporters depended on weak dollar for a profit margin; it was seen as bonus rather than a prerequisite. Nevertheless, exporters will begin to suffer if the climb continues." Australia Industry Group (00) adds that "for over one in three exporters (6%) the dollar appreciation has contributed to a lowering of competitiveness. As a consequence, many of these firms have suffered deterioration in export volumes, with 7% of exporters experiencing a decline. The fall reflects on the combined impact of weaker global demand and appreciating currency". This has forced many of the companies to change the way they market the products overseas in the way they promote their products, price, and have even expanded the places they sell. We are going to look at comments made by different market leaders in different industries regarding their marketing strategies.

AAP wrote in their finance news (00) that out of "0 companies, including 560 exporters, surveyed about the impact on them by the Australian dollars gains against its United States counterpart. Companies most at risk of losing exports - and suffering lower profits as a consequence - were those exporting food, beverages and basic metals The report added that some of the exporters more prone to negative effects of the rising dollar were looking to source more of their supplies from overseas in order to maintain their profits".

Sustainable farming economic news (00), says that during May, the only thing preventing a much larger fall in the Westpac-NFF rural commodity index was a 1% increase in wheat prices, NFF Economics Committee chair Charles Burke said. The index fell by 0.4 % during May, as the strengthening Australian dollar continued to put prices under pressure. The higher dollar offset a large increase in wheat prices. Meanwhile, all other prices in the index (cotton, sugar, canola, beef and wool) fell in value. Mr Burke said the large increases in the Australian dollar over the past months had hit farmers hard. The Australian dollar has increased by 7 % since September 001, unwinding the benefit of the low dollar for farm incomes, he said.

Wool prices"have fallen marginally due to the decreased demand from the Chinese and European buyers, the rising AUD and the increased supply (with more than 75,000 bales being offered for sale nationally) were identified as the reasons for the general slide in prices… The decline in sales has forced the government to open up to more trading contracts with different countries example Uruguay, Chinese food group." (Ernst & Young Food &Agribusiness 00),

In the wine industry reduction in the price of the wine overseas has became a current trend to help the companies stay competitive at an international level "Australian vintners are selling more wine overseas but making less money from it, according to new figures from the Australian Wine & Brandy Corporation" (Gettler, 00). Australian wine producers are stepping up their marketing push in North America and Europe in a race to reach $ billion in exports by December......The Australian Wine Export Council said growth in Britain was slowing and the focus was shifting toward the US (France-Presse, 00)

The chief economist at the Australian Trade Commission, Tim Harcourt, suggests a higher-value dollar should not deter exporters from pursing offshore sales, at least in the medium term..."Exporting is a difficult process that relies on patience, trust, commitment and the building of relationships with suppliers and customers in overseas countries, Australia's export success can't depend on exchange rates alone" " he said (Global supermarket, 00).

Phil Rosser, senior manager of Trade Development at Sydney Ports believes the growing imbalance between imports and exports will turn out to be more significant for Australia. "The economy is strong so we're drawing in imports like crazy and exports have dropped off," he said. "This is more than just the effects of the drought. Some export lines have fallen because there has been a drop in demand from overseas, like cotton. Cotton plantings were being reduced even before the drought set in because there was a lack of demand." It's a welcome move away from simply exporting commodities and concentrating, instead, on processing food products and value-adding, from everything I've seen, that trend is holding up" he said (Global supermarket, 00).

Australian exporters could survive the higher exchange rate if they pursued quality and productivity, an economist said. Tim Harcourt, the chief economist with AusTrade, said the higher Australian dollar was certainly making life difficult for many exporters. While it is tough for some at the moment, Australian exporters have shown their resilience through thick and through thin, he said." And their capacity to build export markets, nurture relationships and find new ways of creating value and improving productivity will continue even if it means living with a higher dollar. But he said there were opportunities, particularly in countries with young populations such as China and Indonesia, for Australian exporters. Customer service standards, product quality, brand building, marketing, management ability, levels of education and training and the capacity to build long-term relationships with overseas clients, customers and business partners are all factors that have helped Australian businesses to achieve export success on a sustainable basis, he said. "All of these factors require long-term commitment, whatever exchange rate fluctuations maybe occurring in the financial markets in any given day (Aus trade, 00).

In South Korea recently, after a visit to Japan, Meat and Livestock Australia (MLA) managing director Mark Spurr said ongoing promotions in both countries had been critical to positioning Australia as a supplier of quality beef. Over the past 1 months in Japan a major MLA promotion program (funded with support from the Australian Government, processors and industry) has involved more than 4,000 in-store demonstrations, trade seminars, retail promotions and consumer awareness campaigns. He said the strength of consumer demand in Japan was evident in the stronger export prices for our beef to Japan. In Korea, the Hoju Chungjungwoo brand launched last year promoting the clean, natural and safe attributes of Australian beef already enjoys 0 percent brand awareness (Global Supermarket, 00).

From all the above comments we see that exporters are doing their best not to be dragged out of market by the exchange rates movements. Emphasis is being paid to the products being distributed and the customers (building relationships).

What strategies are required during times of adverse currency movement to cushion volume/profit volatility?

Currency risks can affect the growth and profitability of a company. If a company is exporting as seen above the strengthening of a currency can mean low competitiveness, low profits and negative growth. If a company is exporting a weak currency means the same implications as above. It is therefore important to manage or cushion the risk associated with currency movements. This can be done though the use of several strategies which we shall discuss in depth. During this discussion we are going to assume the position of an Australian agricultural company that specialises in both imports and exports of agricultural commodities and equipments.

Strategies used

Forward rate agreement This is a contract to buy or sell currency at an agreed upon exchange rate at a specific date in the future. This allows the exporter or importer to contract with another party to assume the risk of adverse currency movements (Price, 000). This is done by a financial institution mostly banks. The company gets contracted by an overseas market to export a certain bales of wool to a Chinese market at a set later date; the amount contracted may be in a Chinese currency. In this case the company can sell this currency at the present time to a bank or financial institution. These two negotiate a price and come to a standardized agreement. The negotiated amount maybe AUD million. If the exchange rate has moved against the exporting company between the date of contract and the settlement date the company is thereby protected. On the other hand the company foregoes the potential windfall of favourable exchange rate movement (Price, 00). This kind of strategy protects the growth of the company by preventing the large gap between huge profits and huge loss at different times due to currency movements. The company is assured of what to expect in the future and can be able to make other growth decisions or facts basing on this.

Exchange-Based futures In this strategy the company can "eliminate exchange risk ("hedge") by using a futures contract to offset the risk involved in receiving foreign currency as payment for an overseas sale" (Price, 00). Currency futures contracts are used primarily as price-setting mechanisms rather than for the physical exchange of currencies. The contract is cash settled; that is, following the final trading session (on the last business day of the month prior to the futures contract month), one last mark-to-market and cash adjustment takes place (Kawaller, 00).By taking this short position the exporter will make a profit if the value of the currency falls, which will offset the currency related loss of the product sale (price, 00). An example of this can be illustrated in the import of agricultural equipments, our company makes a contract with Japan and the contracted amount (in Japanese Yen) is to be paid in a 0 day period, the rate specified is the exchange rate at the day that the contract is made. If we pay before the end of the 0 day period, we can buy the Yen in that day exchange rate to pay the amount it would cost in Japanese Yen. If the Aus dollar is higher we make profit if it is low, we might as well wait for the payment date.

Future hedging between companies In this kind of hedging unlike the one mentioned above does not involve a financial institution. It is a contracted agreement between two trading partners. During the wheat of season our company might decide to enter into a contract promising to sell a certain amount of wheat for a certain price in Aus dollar to Saudi Arabia. At that particular time none of the parties know the exchange rate but a decision is reached when the two partners negotiate and reach an agreed rate. At the time the actual exchange occurs if the Aus dollar is high we make a loss if it is high we profit. This way we protect ourselves from unexpected huge losses.

Options Financial Insurance Foreign Currency Options can provide a fixed exchange rate for a future date if rates move adversely, but also provide the added flexibility of being able to use the prevailing spot rate if rates have moved favourably. If you buy a foreign currency option, you get the right to choose, on an agreed future date, whether you want to exercise the option and transact at the option's exchange rate or not. If the spot rate is more favourable than the option's exchange rate, then you will choose to transact at the spot rate. However, if the spot rate is less favourable you will use the option. (ANZ, 00). This can be illustrated in a case where our company decides to sell dairy products to Japan at 5million Yen on a 60 days terms. If the value of the Aus dollar rises in this period, the value of sales falls and therefore our company makes a profit, if the value of the dollar falls, our company has the financial insurance (option).

One strategy that can be used to protest against surging in growth due to adverse currency movements is when a country decided to open up companies in other country to serve the domestic market it important to invest with the countries currency rather than your own. For example for every country that our company has opened up a dairy produce outlet all the products are sold in the local currency. This way each country is given its own growth standards.

In an exports level however it is advisable to use one currency to make sales. Example use of the Aus dollar regardless of the country of buyer. This buffers the risks associated with dealing with too many currency exchange rates.

Reference

• J.Gans, S.King, R.Stonecash, N.Mankiw.(000) Principles of Economics. Harcourt Australia NSW (000).

• Patrik Grady(17), Fiscal Policy Relevancy. The 18 Canadian Encyclopedia.

• Thecourier-mail (no date), Shoppers push up economy The courier-mail news [online] Availabe

http//thecouriermail.news.com.au/common/story_page/0,56,654010%55E170,00.html (August 00)

• John Kavanagh (unknown date), Dollar Good for some. [online] Availabe http//brw.com.au/Stories/00061/1557.aspx

• Buyusa.com(no date), Economic Trends and Outlook for Australia [online] Availabe http//www.buyusa.gov/australia/en/economy.html#_section8

• AAP (May, 00), $A a danger for exporters AAP News. [online] Available http//www.optus.net/news/story/aap/00050/07/business/dollar-companies-fed.inp

(August 00).

• ANZ (no-date). International trade Forward Exchange Contracts. Retrieved on Retrieved 1st August 00

Available http//www.anz.com/business/international_trade/INT_forwexcontracts.asp

• Ai Group (May 00), Big Issues call for Big Ideas The Implications of the rising Australia Dollar. Australian Industrial Group. Available www.aigroup.asn.au/.../publications/reports/general_reports/ publications_report_nat_aust_dollar_pu_05080.pdf

• Aus trade (September, 00) News Exporters can survive higher dollar. Available http//www.ferret.com.au/articles/d/0c0180d.asp

• Price, J (no-date). Managing Currency Rate Movement Weighing the Options. Stock market Software and Education [online]. Available http//www.sherlockinvesting.com/articles/currency.htm

• Farming economic news (June, 00). Dollar strength cost $bn Farming economic news. Available http//www.ipmworld.com.au/articles.php?rc=8

• France-Presse, A (August, 00). News Interactive Wine exports soar. The New Courier mail. Retrieved 8th August 00. Availablehttp//www.news.com.au/common/story_page/0,4057,68600%55E41,00.html

• Gettler (June, 00). Sydney Morning Herald Strong dollar erodes wine export profits. Available http//www.smh.com.au/articles/00/07/10/105778118.html

• Global Supermarket (June, 00).Logistics Dollar and sense. Global Supermarket. Available http//www.globalsupermarket.com.au/logistics.html

• Global Supermarket, (June, 00),. Marketing Beef promotions drive sales. Retrieved on th August 00

Available http//www.globalsupermarket.com.au/marketing.html

• Parker, D (00), Business travel High-voltage dollar a buyer bonanza. The Australian. Available http//www.theaustralian.news.com.au/common/story_page/0,5744,6548466%55E557,00.html

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Drinking

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Drinkning Life to the Lees

The lees of a drink implies alcohol content. The lees are the sediment that settle to the bottom of wine during fermentation. Drinking life to the lees could be taken several ways. The context of this quote is very important. Fortunatley, I have no way of knowing in what context this quote was spoken so I will be allowed to explore this in two ways.

First and formost I will venture in a abiblical direction. Psalms 758 proclaims that "In the hand of the Lord is a cup full of foaming wine mixed with spices; he pours it out, and all the wicked of the earth drink it down to the very dregs." The dregs of wine is synonymous with the lees. One could infer that the person giving the advice of drinking life to the lees is an embodiment of the Devil. The drinking life to the lees in this context is sinful. It exemplifies greed and gluttony. However, this is probably not the way I am supposed to take this quote.

So to get back on topic I will lean towards the metaphorical. Drinking life to the lees is to take full advantage of what has been set in front of you. In this sense, everyone should drink life to the lees. With life comes the good and the bad. One can't expect to only have the good. The lees of life are necessary to get to the best parts. Just as wine canty be fermented without lees, the bad parts of life are what puts us into position to enjoy the good. From hard work comes reward. With out hard work, the reward isn't as sweet.Custom Essays on Drinking

In short drinking life to the lees is taking every opportunity thqat comes your way. A wise person drinks life to the lees. The ones that understand the circular flow of life drinks life to the lees. Life is relative, and good would have no meaning if there isn't bad.

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Animal farm

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Abuse of power, and hypocracy in animal farm

Animal farm is a book mainly about abuse of power, and hypocracy.

It shows how the animals are manipulated to believe anything they are told. And do anything they are told.

Abuse of power is when someone takes charge and uses there power when they shouldn't. for example when the animals were over looking the commandments they thought the fifth commandment had said "no animal shall drink alcohol" (11). This shows how the animals learned one thing in the beginning of the revolution. In addition the animals noticed something different about the fifth commandment it read. "no animal shall drink alcohol to excess" (11). This shows that the pigs decided they wanted to drink alcohol so they changed the commandment to fit wants. They are not using there power as they should be.Order Custom Essay on animal farm

Hypocracy is when someone says one thing and does the complete opposite. For example after the attack the animals had though the sixth commandment read, "no animal shall kill any other animal"(8). This shows what the pigs told the animals. In addition they realized after all the deaths of the animals the commandment actually read "no animal shall kill any other animal without reason"(8). This shows what the animals did, even after saying they couldn't. they are controlling the other animals.

In conclusion the book animal farm was mainly about the abuse of power, and hypocracy. The animals were controlled and they didn't even know. and in the end all the animals were very very very very very very happy. so were all the people from all the farms. they all trusted the animals now and the animals were happy and the peopleliked them and thats all that happened in the book animal farm. and i think thats the end.

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My life

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----Speech----

I have so many great memories that it is impossible to share them all with you tonight. I am sure that everyone here has wonderful times in their lives that are unforgettable. Think about it. Your tenth birthday, your first valentine, when you got your driver's license, having a blast when the year turned to 000. All of these memories are special in their own way. One of my memories that I would like to share with everyone tonight is about taking risks. If you don't take risks then you cannot enjoy the outcome. If Bill Gates listened to everyone and didn't play around with computers all day, he probably wouldn't be where he is today. If the guy who plays the lottery says "Ah, these numbers are never going to hit!" and loses to the numbers he had been playing for years, then what??, then what?? The same goes for me!

I moved down to Tampa about two years ago, not knowing anyone but my step-sister who was cool enough to let me stay with her, for a price of course. I had to run out, get a job, enroll in school, and just start becoming mature. It was tough and the thought of moving back to New Jersey crossed my mind several times. Lucky for me I got a job, met some real cool people, started having a good time, and eventually ended up in school. Now I am working for my AS degree at this beautiful technical institute, making money parking cars, and having a blast every opportunity I get.

In conclusion I would just like to remind everyone that taking risks isn't always a bad thing. Sure there is a negative side, but is it worth not taking the chance??? I am glad I took the risk of moving down to tampa, being 17 years old, with some clothes and no money, and generating that life into a 0 year old, with some clothes and no money!!Custom Essays on my life

THANK YOU!!!!!!

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For rich or for poor

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In 1th century society, money and social status controlled people. The rich clique has a high social status and, therefore, marry the people with the same ranking. The lower class people are rarely given a chance to advance socially. Jane Austen's novel, Sense and Sensibility, explores the personal, social, and economic difficulties of human relationships during these times. These difficulties can be seen in the sister's, Elinor and Marianne's relationships with (a) family and friends, (b) potential suitors and ( c) each other.

Following the death of Mr. John Dashwood, Elinor and Marianne's father, the girls notice a change in how they are treated by family and friends. In the 1800's it is traditional for the son to inherit the majority of the money after the death of a parent. When Mr. Dashwood died, his money was left to his son, Mr. John Dashwood. With the inheritance also came an obligation to make certain his step-mother and three half-sisters are well taken care of financially. Although the Miss Dashwoods were not directly given any money, they trusted their brother would fulfill his obligation to his father. The girls soon realized that Mr. John Dashwood was not going to keep his promise and that they were left with nothing. [Mr. John Dashwood] … finally resolved, that it would be absolutely unnecessary, if not highly indecorous, to do more for the widow of his father, than such kind neighbourly acts as his own wife pointed out (Austen 10). Mrs. John Dashwood is a very greedy, self-centered woman who was excellent at getting her way. So the inheritance money looked really good to her, and even better if she didn't have to share it. Since the Dashwood's are now left

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Today (washington DC)

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Today was a great day. We visited Washington DC. It was such a great site. We saw the Lincoln memorial and the white house. I even met the president. He is the main guy of the exective branch. The other branches are the exective, judicial, and the legislature. The legislature makes sure the laws that are passed good or bad. The judicial makes sure people have due process. We also saw the Smithsonian institute what a great museum. I saw dinosaurs and mammels and everthing. It is the biggest museum of the United States. I also saw where they make money. That was cool. All those bills. Someday I will have that much money. I know I will. Well that was the day cant you see that it was a great day. I think so. well I hope you can see it someday because you will enjoy it. I know I did. by bye bye byePolitic- artful, ingenious, shrewd

a. people who are creative

Politics- policies, goals, affairs of the Gov.

Political Science- study of the process, principles and structure of governmentCustom writing service can write essays on Today (washington DC)

Different theories why Gov forms

1. Social Contract (social power)

a. With out any type of government certain rights exist

i. Kill

ii. Steal

iii. Deceive

b. If there is an element of fear will give up the right for a higher cause

(gov. controls it)

i. give up the right to kill, deceive, and steal

ii. if ensured that they won't be killed, deceived, stealed from

c. No fear won't give up rights

i. Ex. League of Nations- Org. of states

1. didn't work WWII

ii. U.N. works because fear of nuclear war

. Natural theory- sociological reason

a. Association- family, clan, community,

More mature, want more

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Functionalist view of society.

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"The functionalist view that society is integrated by shared norms and values is useful in explaining the nature and extent of deviance". Assess sociological evidence and arguments for and against this view.

The functionalist theories of crime aim to look at the society as a whole. They look for the sources of deviance in the nature of society, rather than the psychological or biological nature of the individual. It is argued by functionalist that deviance is a necessary part of all societies. This is mainly because they see it as performing a positive function for social systems, despite the fact that it means breaking societies norms and values. Functionalists also agree that social control mechanisms are necessarily used in order to keep social control. However, functionalists also show deviance to have its positive functions as it aids to the maintenance and the well being of society.

In 'The Rules of Sociological Method' Durkheim argues that crime is an inevitable and normal aspect of social life. Crime and deviance is shown to be in all types of society and especially in advanced or industrialised areas as they provide more opportunities for crime. Durkheim also states that crime is 'an integral part of all healthy societies'. Crime is also shown to be inevitable as not every member of society can be equally committed to the collective of society. Durkheim had argued that a limited amount of crime is beneficial and that society would not exist without it. However, he was also clear to point out that too much crime is also dysfunctional and can lead to social disintegration.

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Schoenburg

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Expressionism is a quality of inner experience the emotions of the artists communicated through their art

The Expressionists era was an art movement dominated in Germany that enhanced this idea

In Germany, experienced ecoomic political, and social upheaval after Word War 1

The uprise of Hitlers Nationalist Social Party, debt of World War 1

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lots of artists at that specific time wanted to expose the negative aspects of that

The Late Romantic Era was one in which composers took music and pushed it to its boundaries..they were the rebels sort of speak of the period

This period was also known as Post Wagarian

Arnold Schoenberg was born on Sept 1, 1874 in Vienna Germany

Austro hungarian Composer

was an orthodox jew

He started off playing violin when he was young and soon started composing thereafter

he didnt have any real mentors that trained him excet Zemlinsky who was a teacher and friend for a short while

He said his greatest mentors were Beetoven and Wagner

All music up to the Late Romantic Period of time was all tonal music

A period of Chromatism came into play

By playing tones that arents supposed to be in the key creates a stronger and more effective dissonance

thought that it brought out more mood

Schoenberg along with other composers like him, thought that Tonal music "governed" theyre way of composing so decided to compose and conduct atonal (free tone) music

Schoenberg Developed the 1 tone system

also known as dodecaphony (all twelve notes of the chromatic scale)

which became a leading way in composing this kind of music

Early in Schoenbergs" career he public hated his music and acted to it violently.

Left germany in 1 because of anti semetic laws in Germany

Fled to france and then America

came to Boston and later Died in Los angelos July 1th in 151

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Art

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Joaquin Alberto Vargas y Chavez was born February 186 in Arequipa, Peru, a mountain city about 500 miles southeast of Lima. His father Max, was a successful photographer, with studios in Arequipa and La Paz, Bolivia, and the young Alberto spent countless hours watching him work. Alberto learned a lot from his father later in the years he was assisting his father. Alberto had a little brother named Max Jr. Vargas was employed by Greenwich Village Follies, which, this company employed Vargas's Future wife, Anna Mai Clift. Vargas's best friend and biographer was Reid Austin.

Alberto had traveled all around the world ever since he was a little kid. His father had him travel by himself when he was young. When Alberto was 14, his parents decided that him and his brother Max Jr. should both go to Europe in 111. Their initial stop was Paris, this is were Alberto was exposed to the truth about art. Vargas was enrolled in the prestigious Julien Studios in Geneva; his brother went to another school in the same city to study banking and finance. Vargas was on his way home, and him and his brother met at Big Apple to make there fight home. But Vargas had changed his mind and wanted to travel to New York. This is were he met his future wife, He has also found some work there. In 14,Vargas's Fortunes began to increase. That year he started to get more attention and more offers. Among his job, a commission from the Fox Film Corporation wanted him to paint 1 stars portraits. He had eight weeks to finish those 1 portraits and he did finish it, so he was able to work in the studio's art department for a few months after that. He painted the little inocent Shirley Temple. In 15, Vargas was moved over to Warner Brothers, and every major studio in Hollywood. Vargas joined a unionization walkout, this action cost him his reputation in Hollywood.

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