Financial Systems of Ghana and Nigeria

Financial Systems of Ghana and Nigeria Since the idea of Adam Smiths invincible hands also known as invincible hand of the market, the allocative power of the market has been generally recognised. These ideas have been reinforced by the apparent failure of Keynesian theories of government intervention to stand the test of time. As a result of the adoption of SAP (Structural Adjustment programme) by most developing countries including Ghana and Nigerian which are my main concentration, the debate of liberalization versus intervention has been rekindled. The major area of concentration is if these developing countries (Ghana and Nigeria) with imperfect markets have benefitted from recent liberalization efforts in the structural adjustment programme. Financial liberalization is usually an important component of a countrys strategy for economic growth. In an old fashion way, financial liberalization, has come to be most universally linked with freeing of interest rates, but now financial liberalization is seen as a process involving a much broader set of measures geared toward the elimination of various restrictions on the financial sector, such as the removal of portfolio restrictions on the banking sector, the reform of the external sector, and also changes in the workings of the monetary policy THE FINANCIAL SYSTEM OF GHANA AND NIGERIA. A key stylised fact about financial systems in developing countries is that they are dominated by commercial banks (Fry, I995, pp. 4-5; Rojas-Suairez and Weisbrod, I995, pp. 4) Ghana and Nigerias financial system consists of a large fragmented informal sector and formal sector. The formal sector is made up of central bank(Bank of Ghana and Central Bank of Nigeria) at the apex, with 42 commercial banks for both countries; Nigeria (26) and Ghana (16), development banks (Nigeria, (5), Ghana (3) , and merchant banks (30) Nigeria), (Ghana, (10), insurance companies, stock exchange, building society, community banks. The structure of Nigerias financial system will be explained below: Regulatory Authorities: they regulate the Nigerian financial system, and they include Central Bank of Nigeria (CBN), the Federal Ministry of Finance (FMF), Federal Mortgage Bank of Nigeria (FMBN Nigeria Deposit Insurance Corporation (NDIC), Securities and Exchange Commission (SEC),), and the National Board for Community Banks (NBCB, National Insurance Commission (NIC). These regulatory authorities will be explained in detail below. 1. Federal Ministry of Finance: the role of this regulatory authority is to advise the Federal Government on its fiscal operation and make sure it follows whatever the central bank of Nigeria says concerning the monetary matters of the country. 2. FEDERAL MORTGAGE BANK OF NIGERIA (FMBN) The role of the is to provide banking and advisory services, and also to undertake research activities pertaining to housing. After the adoption of the National Housing Policy in 1990, The FMBN is empowered to licence and control main mortgage institutions in Nigeria and act as the peak regulatory body for the mortgage finance industry. 3. The central bank of Nigeria The central bank of Nigeria has the same responsibilities as the bank of Ghana. It was established by the central bank of Nigeria act of 1958 and commenced operation on July 1, 1959. Their major regulatory objective is to issue legal tender to the economy, banker of last resort, financial adviser to the government, enhance monetary stability and a good financial environment which will be of benefit to the country in the short and long run. the central bank of Nigerias success is partly as a result of the rise in crude oil prices. 4. The Nigerian Deposit Insurance Corporation: Its role is to complement the supervisory and regulatory role of central bank of Nigeria (CBN). It has the right to examine the books and affairs of the insured banks in Nigeria and other deposit taking financial institutions. ORIGIN OF FINANCIAL LIBERALIZATION IN NIGERIA Nigerias economy has always been dependent on oil prices since the early 1960s. As a result of the collapse of world oil prices and the reduction in the production of petroleum in the early 1980s, the nature of the countrys economic and financial position became very weak and vulnerable. This led to recession and economic deterioration. The economy was characterised by shortages in its foreign exchange, debt crises, negative economic growth and high rates of unemployment, Indeed, beginning from 1982, and through 1984, the country had become saddled with negative trends in economic growth as indicated by the decline in the gross domestic product (GDP) (0.35% in 1982; -5.37% in 1983; and -5.18% in 1984), persistent current account and budget deficits, a huge number of uncpmleted projects in the public sector, factory closures, large-scale retrenchment, acute shortages of essential commodities and galloping inflation, (Odusola,2001,p4). The government decided to carry out some short run stabilization measures, one of which was to foster employment through the creation of public sector jobs, this exerted more pressure on the budget, not withstanding that, public sector employment grew by a further 18 per cent between 1981and 1984. This policy promoted migration into cities, as the increases in government salaries during this period compared to that of the rural areas was more favourably. Urban migration and its attendant unemployment problems became even more pronounced in 1981 when the Government increased the minimum wage rate to the entry level salary of public sector employees. Urban unemployment increased significantly, from 2 ½ per cent in 1980 to 10 per cent in 1985, while rural unemployment rose from 4 per cent to 6 per cent over the same period. Real per capital income fell significantly as well, from US$1,010 in 1981 to US$850 in 1985 (Odusola, 2001, Pp4). Nigeria financial sector was characterised by rigid exchange and interest rate controls, sart orial allocation of bank credit (Okpara, 2010, P54), the naira was overvalued, all of which made the economy more exposed to risk of default and practically led to distortions that resulted into low direct investment, which in turn led to financial repression. it will be discussed more in-depth below. Financial repression discouraged investment in information capital; it also discouraged savings mobilization, in the sense that it was not vigorously pursued. The financial system incurred a lot of cost in financial intermediation, and it was as a result of inactive liquidity and liability management and incentives to increase efficiency. Not only was Nigeria the only country going through this problem of financial repression, much of the twentieth century saw intensified financial repression (Caprio et al, 2001 p5), for example, Ecuador, Uruguay, Mexico, Ghana, Malawi, Tanzania etc, all had the problem of financial repression in their economy. As a result of the financial repression i n the economy, the government decided to adopt a financial sector reform to help increase the countries economy. The programme they adopted was called Structural adjustment programme (SAP). STRCTURAL ADJUSTMENT PROGRAMME IN GHANA AND NIGERIA. The Ghanaian economy also went through the same problems as the Nigerian economy during the early 1980s. They had similar problems as the Nigerian economy; which include, high default rates, high rates of inflation, weakened confidence in the financial system. These affected the ability of the banks to perform their intermediation function properly (Acquaye and Sowa, 1999, p395). The major objectives of this SAP were, among others, to: Restructure the economy in a way to reduce its dependence on oil as its main source of income. Revitalise the financial sector by creating new institutions Reduce fisal balance of payment problems Promote non-inflationary economic growth. The key policies designed to achieve these objective were: The liberalization of the external trade and payments system-dismantling of price, trade and exchange controls; Implementation of methods to encourage domestic production and expand the supply base of the economy; The setting up of a Second-Tier Foreign Exchange Market (SFEM) as a mechanism of realistic exchange rate. The rationalization and restructuring of public sector enterprises and overhauling of the public sector administrative structure. Reinforcement of important and strong demand management policies; More rationalisation and restructuring of tariffs in order to aid industrial diversification; The elimination of price controls and commodity boards; The key reforms that have already been implemented as part of the financial liberalization policies include; Changing of the concept of a credit ceiling with OMO(Open market operation) Promoting competition and efficiency in the financial system Liberalizing interest rate, exchange rate, but in general the financial sector. The financial sector reforms were thrown into crisis by the sequencing of reform measures and the lack of the necessary prerequisites for liberalization. Particularly, the deregulation of interest rate and the requirements for market entry led to the instability of the financial system. A series of corrective measures had to be adopted, raising questions of policy credibility (Aiyeetey et al, 1997, P196). THE STRUCTURAL ADJUSTMENT PROGRAMME: THEORETICAL BASIS Virtually every sub Saharan African country including Nigeria and Ghana experienced major changes in the overall direction of the national economic policy in the early 1980s. These policy reforms were implemented as an integral part of the structural adjustment programmes (SAP) prescribed by the World Bank and the stabilization programme of the international monetary fund (IMF) (Olasupo, 2005, p 7). The structural adjustment programme had a lot of objectives, but the major objective of this reform programme was to correct the alleged distortions which made sustained economic growth and recovery in the economies difficult. Notwithstanding the general decision of the countries to undertake the adjustment programme, there has since the start of the 1990 decade, been wide ranging argument surrounding the theoretical paradigm underlying the SAP and their suitability to African countries. The first which is the unrequited orthodoxy; it emphasizes how well the adjusters have done in compari son to non adjusters. According to this perspective, the regime of restricted inward looking policies resulted in over protected industrial structure, balance of payment problems (Olasupo 2005, p10). They also contend that development problems will be solved by more adjustment not less, with this they concluded that sub- Saharan African countries experienced poor macroeconomic growth and performance relative to their South East Asian counterparts, because economies in the former were exposed to long term government intervention and restrictive macroeconomic and sectorial polices. The modified orthodoxy sees adjustment programmes in an economy as a necessary but not sufficient condition for development, because adjustment is only capable of stabilizing economies in the short term. This orthodoxy believes that other measures must be put in place for African development to occur in the medium and long term. A strong proponent of this approach puts it, the most significant shortcoming o f current structural adjustment programs is the lack of logical linkage between the short-term objectives of attaining balance-of-payments equilibrium and improving allocative efficiency and the long-term objective of sustainable development Nguyuru Lipumba, (p. 9) FINANCIAL LIBERALIZATION AND REPRESSION. Financial liberalization is the process of breaking away from a state of financial repression. Financial repression has been most commonly associated with government fixing of interest rates and its adverse consequences on the financial sector as well as on the economy. The term financial repression was originally coined by economists interested in less developed countries (LDCs) Gupta, 2004, Pp2. It originated in the works of Ronald I. McKinnon and Edward S. Shaw in the early 1970s, to describe a developing countrys environment, defining it as the set of government legal restrictions preventing the financial intermediaries in the economy from functioning at their full capacity level. The most common forms that this intervention takes are interest rate regulations, directed credit schemes, and high reserve ratios. The literature on financial repression stresses that because savings levels are sensitive to real interest rate, nominal interest rate controls; cumulative inflation reduces the amount of the national income. The benefits of financial repression, as opposed to financial liberalization, are debated on several points Ozdemir Erbil, (2008). In theory, it is believed that financial repression can make it better to control money supply in an economy and also control over interest rate which will induce investment. Another argument in favour of financial repression is that government controls on financial markets are needed for developing countries. In practice, financial repression appears to have yielded government revenue in the order of 2 % of GDP on average in samples of developing countries (Giovannini and de Melo, I 993; Fry et al. I 996, p. 36). The main conviction of the advocates for financial repression is that the government knows better than the market. The repression mechanism works through the interest rate and the exchange rates. Therefore moving from financial repression to financial liberalization would require extra budgetary measures and could create budgetary problems, Like in the case of Nigeria in the early 1980s when the government seeked to reduce unemployment in the urban areas and the outcome of this decision exerted more pressure on the budget. Financial liberalization may increase the fiscal deficit and the cost to finance, as the government loses revenues and is forced to pay more market-based interest rates on its existing debt. On the other hand, the most popular argument which favours financial liberalization is the rising growth effect by motivating savings and investment. Financial liberalization may increase the level of savings and improve the allocation of savings among potential investors. This will lead to the creation of more available funds and hence economic growth. Financial liberalization may decrease the cost of capital, but on the other hand, movements which cause the crises and macroeconomic instability may have a negative impact on economic growth Ozdemir and Erbil (2008). This debate highlights the need for further sound empirical evidence on the benefits of financial liberalization on economic growth, especially for small open economies of developing countries. FINANCIAL LIBERALIZATION AND SAVINGS The advocates of financial liberalization do not seek to induce savings, but to promote and increase the volume and efficiency of capital formation. While financial reform can affect saving through various potential channels, on the whole its net effect is ambiguous.( Schmidt- Hebbel and Serven,2002, p2). Moreover saving is often considered beneficial for its financial dimensions. In open economies, raising national saving is a way to reduce the dependence on foreign saving, protecting the economy from external shocks. This is an important policy concern in a world of increasing financial integration. Together with a strong and well-capitalized financial system, saving represents a form of self -insurance to reduce the economys vulnerability to unexpected reversals of international capital flows. In this manner, saving can help reduce macroeconomic volatility, which empirically has been shown to hamper growth (Ramey and Ramey 1995; Fatà ¡s 2000). Various researchers have shown some empirical evidence that although financial liberalization results in higher interest rate and financial deepening , it does not really lead to higher savings. In majority of countries, financial reforms are followed by declines in savings (Okereke,2009). Bandiera et al (2000) estimated an econometric relationship Showing the private saving ratio as a function of the real interest rate and degree of openness as an index for financial liberalization, along with income, inflation and public savings. analyze the experience of eight countries that underwent significant reforms in their financial systems, namely Chile, Ghana, Indonesia, Korea, Malaysia, Mexico, Turkey and Zimbabwe. Foe this countries they measured the effect of liberalization on the volume of aggregate savings, their results Their results do not provide a clear answer on the impact of reforms on saving, as the effect appears significantly negative in some cases (Korea and Mexico), positive in some others (Greece and Turkey) and insignificant in the Indonesia, Malaysia, Zimbabwe, and Ghana. In a study similar to theirs i.e.(Bandiera et al), Loayza and Shanka(2000), used India as their country of observation, and the savings rate from India and found out that financial reform has not changed the savings rate, but moved the composition of savings in India towards a higher share of durable goods. Ostry and levey(1995), in their findings maintained that financial development as a result of liberalization reduced savings. Bennett et al(2001), in their work, also found a negative significant effect on savings. CONSEQUENCES OF FINANCIAL LIBERALIZATION Policies that make an economy open to the rest of the world and they are needed for sustained economic growth. No country has achieved economic success, in terms of substantial increases in living standards for its people, without being open to rest of the world. Trade opening has been an important element in the economic success of East Asia, where the average import tariff has fallen from 30 percent to 10% over the past 20 years. Opening up economies to global economy has been essential in enabling many developing countries to develop competitive advantages in different sectors of their economy. Countries that have opened their economies in recent years, foe example India in 1991, have experienced faster growth rate and more poverty reduction, a proof is that following the economic reforms, the country began to develop a fast paced economic growth. India is the eleventh largest economy in the world There are some negative effects experienced by countries or the world in general in terms of their reform policies that has outweighs the benefits of such reforms, this statement can be applied to the effects of financial liberalization despite its benefits in terms of access to more capital inflows. Financial liberalization creates exposure to various kinds of risk and they include; a propensity to lead to financial internal and external financial crises, inadequate access to funds for small scale producers etc. Many researchers have carried out empirical studies on financial liberalization on financial fragility of the economy, and their conclusion is that liberalization increases the fragility of the financial system. According to (Demirguc-kunt detragiache), one of the reason why financial liberalization may lead to increased financial sector fragility is that the removal of interest rate ceilings and also the reduction of barriers to entry reduces bark franchise values, thus exacerbating moral hazards problems. The moral hazards problem is a special case of information asymmetry, a situation in which one party in a transaction has more information than another. Normally banks try to protect their franchise, and the risk of losing their franchise, but during a period of policy reform such as financial liberalization, where there is free entry in to the market or financial sector, so as a result of that there is more competition, this erodes franchise values. If the effort of reform does not incorporate adequate strengthening of the prudential regulations and supervision to realign incentives, lower franchise values are likely to lead to increased fragility (Stiglitz et al (2001) Tornell et al (2003), in their studies, they said that financial liberalization is bad for growth because it leads to crises. Their empirical analysis shows that in countries with harsh credit market imperfections, financial liberalization leads to a more rapid growth but also a more higher incidence of crises. They also argued that liberalization leads to faster growth because it eases financial constraints, but on one condition that this occurs if agents which are the government, investors and creditors take on credit risk which makes the economy fragile and prone to crisis.

How far was Lloyd Georges fall from grace in 1922 the result of his own mistakes after 1918? Essay

A general election held in 1918 gave Lloyd George and the Conservative coalition a very comfortable majority in parliament, but it also left Lloyd George in an untenable position. The coalition consisted overwhelmingly of Conservatives, meaning that Lloyd George’s hold on power was extremely weak. He could not do many of the things he would have liked to do in a purely Liberal government, simply because he did not have the support of the Conservatives. After the war, Lloyd George faced some very serious domestic problems. Firstly was the issue of the German reparations and punishments. There was a strong feeling in Britain that Germany was fully responsible for the war, and therefore should be punished severely. Lloyd George did not subscribe to this opinion. He felt that Germany should be punished, but not to the extent that it ceased to exist. He came to the conclusion that if Germany was effectively destroyed by war payments, it would leave a large power vacuum in the centre of Europe. Lloyd George was worried that this gap would be filled by the Communist ideals of the Bolsheviks. Along with this, the post-war depression that was consuming Britain resulted in a loss of popularity for Lloyd George. The new markets Britain were relying after the war had not materialized, and several of Britain’s old markets had found cheaper suppliers. This resulted in a large scale closing of many industries. The failure of both France and Russia to pay back their war loans meant that Britain in turn was not able to pay back the loans borrowed from America. This in turn resulted in a dramatic increase in unemployment, going far beyond the ‘intractable million’. In both of these situations, the Conservatives in the coalition were more than happy to sit back and let Lloyd George take the blame for these domestic problems. They began to notice his dwindling popularity and made no effort to halt it. The Conservatives were more than aware that they had a large enough amount of MP’s to have an overall majority in parliament, so for the time being they were content to sit back and allow Lloyd George to try and work Britain out of it’s economical mess. After the war, the vast gap in Liberal and Conservative policy became overwhelmingly apparent. The pressing issue of the continuing nationalisation of the coal mines caused many problems for Lloyd George. As a liberal, George was in favour of public ownership of the mines. Knowing that it would be impossible to convince the Conservatives to carry on with the nationalisation, he ordered an independent commission into the matter. He told the trade unions that he would abide by whatever was decided by the commission. Lloyd George assumed he had averted the matter by appointing a top judge, Mr. Justice Sankey. Lloyd George felt that Sankey was bound to want privatisation of the mines. When Sankey found in favour of continuing nationalisation, Lloyd George was in a compromising situation. He had already promised to carry out whatever Mr. Sankey decided, but he did not want to upset the Conservative majority. In the end, Lloyd George decided to do nothing. This greatly upset the trade unions, and resulted in a lasting distrust in him. The Chanak incident resulted in a similar situation for Lloyd George. Firstly, it widened the chasm between the two factions of the coalition further, with Lloyd George supporting the Greeks, and the Conservatives continuing their support of Turkey. More importantly, the Conservatives were worried with Lloyd George putting Britain at military risk so soon after WWII. This is the clearest sign of Conservative disillusionment with continuing the coalition. Lloyd George was also plagued by external factors he had no control over. An example of this is the change in leadership of the Conservative party. Bonar Law was an extremely influential figure within his party. He was good at persuading people to his point of view. His successor Austen Chamberlain lacked the finesse of Bonar Law. He spoke to his party about continuing the coalition only days after two coalition Conservative MPs had been defeated in by elections. This meant that at the time the Conservatives had very little patient with the coalition. The growing disenchantment with Lloyd George was only elevated by his style of government. During the war, George formed a small war cabinet that had the power to make changes in any area of the government. After the war, this continued. Rather than consulting his cabinet on important matters, he preferred to consult a small group of advisors. This obviously upset the Conservative cabinet, as their influence over Lloyd George was falling. Another source of discontent from the Conservatives toward Lloyd George was the so called ‘honours scandal’. After his split from Asquith and the original Liberal party, Lloyd George’s liberals needed a secure source of funding. To aid this, he allowed honours to be sold to wealthy people for a great deal of money. This was certainly not the first example of this happening, but it was the first example of it happening on such a wide scale. To further contribute to the problem, several less than savoury business bought themselves titles. The press caught hold of these affairs and made it commonly known, much to the Conservatives dismay. Examples like these show clearly that Lloyd George contributed significantly to his own downfall, but it’s likely that the Conservative decline in support played a larger part in his fall from grace. While Lloyd George was popular with the public, he was an electoral asset, but as his popularity among the electorate decreased, so did his support from the Conservatives. Backbench Conservative MPs were particularly upset with continuing the coalition as it meant they had less promotion opportunities as a number of cabinet places had to be filled by Liberal MPs. Even if Lloyd George’s popularity among the electorate had remained high, it is hard to imagine the Conservatives wanting to continue the coalition past 1922. The 1918 election had given the Conservatives the confidence they needed after having several years out of power. They realised they would have had a majority in Parliament without the Liberals in the coalition. While it is impossible to ignore Lloyd George’s shortcoming as Prime Minster in peace time, it is clear that Conservative disillusionment was the main cause of his downfall. Bibliography: http://www.spartacus.schoolnet.co.uk http://www.llgc.org.uk â€Å"David Lloyd George – A Biography† Peter Rowland

Top Literary Essay Samples Secrets

Top Literary Essay Samples Secrets An outline for a poetry analysis essay can be exceedingly straightforward, as it is only a guideline for the writer to construct upon as the very first draft is written. You could also see concept essay. You could also see scholarship essay. In conclusion, an analytical essay is an essay meant to elaborate more than that which the readers or viewers of a particular piece might actually see. Top Literary Essay Samples Choices You will also need to prevent the dreaded I factor offirst-person writing. First question however won't confine us for a very long moment. A great hook sentence is intended to grab your readers attention. It's definitely important to reread the literary piece several times in order to find a complete grasp of the many suggestions and concepts. Don't underestimate how valuable it's to know the way your work is going to be judged. Be sure it is going to be difficult. 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Although, one particular point to think about is to not overstate. The information that you present can start up as a wide discussion eventually narrowing to the thesis statement. The Dirty Truth About Literary Essay Samples Starting a theme essay with a superior hook will let you capture your readers attention. When you understand what the poem is attempting to say, you will need to develop a theme. To start with, a theme can be as easy as the moral of a fable. It is a central idea in a poem. The Nuiances of Literary Essay Samples When you've built up all of the information regarding your essay, you're prepared to wrap this up. The topic you choose to select for your analytical essay will establish the facts and details you will need to include. Since you may see, presenting a suitable essay is both difficult and time-taking. Scroll down the page in order to see extra essay samples which can help you in producing your very own literary essay. So, the novel essentially is made up of themes that are associated with the spirits, family and houses. The author puts himself in the area of a person who did not formerly have accessibility to the information included in the old, venerated tomes who now is capable of seeing the light of the fantastic author for the very first moment. Though he could have tried to portray several different ideas in theories, the central goal of the writer is to state the one he feels is mostly the case. Interestingly, the term author' comes from the exact same origin as authority'. Despite how it's deceptively straightforward, just answer the question. Your answers will allow you to form your claims. Be certain everything you do is supporting your response to the question. Your response to the question will become your thesis. Every body paragraph should incorporate support in the shape of spec ific examples. 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Students lead busy lives and frequently forget about a coming deadline. Frequently, you'll simply have to concentrate on your own ideas and just support your claims with logic and evidence from your text. If you're not sure about what information ought to be included in the criticism, skim through the job. The important approach will find out the content of the interpretation. The objective of Freudian analysis is to emphasize the presence of psychic conflicts as an alternative to searching for aesthetical merits.

Analysis Of Raymond Carver s Cathedral - 1097 Words

Karina A. Burr Instructor Barbra Green Writing 102 11 September 2015 Cathedral by Raymond Carver In this short story by Raymond Carver begins with a man whose wife invited a good friend over named Robert and is blind. Before Roberts Arrival, the wife’s husband, whose name is Bub, does not know what to make out of his wife’s good friend Robert coming over to their house. Carver utilizes a story of a blind man who changes Bub’s outlook in life. Through the narrators changing character, theme of loneliness and jealousy, and the cathedral being a symbol at the end of the story, this brings together a powerful message in the story when one blind man and one man with sight share an evening together drawing out a cathedral. The theme of this story plays a strong role of physical and psychological blindness. The narrator has sight and is not blind. But it seems as if the narrator is blinded by his own personality. He is too quick to judge a blind man who he has not even met yet but judge a blind man because of what he saw on television . Bub, the narrator says, â€Å"And his being blind bothered me. My idea of blindness came from the movies. In the movies, the blind moved slowly and never laughed. Sometimes they were led by seeing dogs-eye dogs. (Carver 299). It is also seen that Robert always refers the man as â€Å"the blind man† rather than Robert. The narrator sees him not as human-like because of his disability. The author lets the audience know that even though a man mayShow MoreRelatedAnalysis Of Raymond Carver s Cathedral1696 Words   |  7 Pagesfrom, or trying to bury alive. Cathedral, written by Raymond Carver, takes place in the early 1980’s. Originally published in The Atlantic Monthly in 1981. Carver slightly revised the story and re-released it in 1983. At a time when the blue collar working class lived paycheck to paycheck, working hard for newfound luxuries such as color television, this short story is humorous and eye-opening for the reader. For adults ranging from thirty to forty years old, the 1980’s were possibly a ghostly, hauntingRead MoreCharacter Analysis Of Raymond Carver s Cathedral 1426 Words   |  6 PagesCharacter Analysis in Raymond Carver’s â€Å"Cathedral†: The Narrator Literature has the potential to act as a mirror by presenting people’s lived experiences, expectations, and perceptions through characters. 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In general, the story lacks figurative language and is told in short, directRead MoreAnalysis Of Raymond Carver s Cathedral 970 Words   |  4 PagesIn Raymond Carver’s short story, â€Å"Cathedral†, we meet the character who is never named, and who is known as the narrator to us. Although the narrator’s character changed towards the end, and we don’t really learn much after the change of his personality, it is still a gradual change that took place. The narrator’s attitude is very important in the story because it revolves around him and the way he views things. This short story is about a m an who is married to a woman, and this woman has been friendsRead MoreAnalysis Of Raymond Carver s Cathedral 943 Words   |  4 PagesIn Raymond Carver’s â€Å"Cathedral†, the short story is told by a character within the story. The first-person point of view gives us a transparent visual of an important time in the narrators’ life. The narrator, who is â€Å"un-named† in the beginning of the story, uses blunt, flawless and a particular choice of words. This gives us as the reader a deeper connection with the narrator. The narrator begins this story by taking us through the changes he go through with the uneasy feeling of having a blind-manRead MoreAnalysis Of Raymond Carver s The Cathedral 863 Words   |  4 Pages One of the Raymond Carver story where we can find a lot of religion symbols; it is â€Å"Cathedral.† The story develops an ironic situation in which a blind man teaches a sighted man to truly â€Å"see† for the first tim e. Near the end of the story, Carver has these two characters work together on a drawing of a cathedral, which serves as the symbolic heart of the story. The cathedral represents true sight, the ability to see beyond the surface to the true meaning that lies within. The narrator’s drawingRead MoreAn Analysis Of Raymond Carver s Cathedral1794 Words   |  8 Pages A Cynics Enlightenment Raymond Carver’s short-story Cathedral is outwardly about a pessimistic man, whose wife’s blind visitor named Robert changes the narrators predisposing perception of the world and awakes a new view on life in the process. But inwardly, the story is about the desperate need for connection between these three characters, which isn’t feasible do to the emotional-detachment by the narrator. In the beginning, the narrator is hindered by his prejudices which doesn t allow himRead MoreAnalysis Of Raymond Carver s Cathedral1524 Words   |  7 PagesAs if someone has unlocked his prison cell to liberate him of his stereotypical point of view. The protagonist of Raymond Carver’s â€Å"Cathedral† was an individual whose stagnant mind has blind him from truly seeing the aspects and characteristics of people around him. Before meeting his wife’s blind friend whose name is Robert, the protagonist perceives reality with a stereotypical mind-set shaped by m isleading information from movies. Hence, he make judgement about other people without ever settingRead MoreAnalysis Of Raymond Carver s Cathedral2364 Words   |  10 Pagesmost. The same could be said about people who are limited by one or more of their six senses and are judged by the majority of the population who are not limited and make preconceived notions about these limitations which can bind them. Raymond Carver’s â€Å"Cathedral† explores many literary devices that reveal the pre conceived perception towards people with physical limitations without understanding the individual first, which is still a problem today. The protagonist, the narrator is closed mindedRead MoreAnalysis Of Raymond Carver s Cathedral 1340 Words   |  6 PagesRaymond Carver’s characters were considered to be very much like him: â€Å"’on the edge: of poverty, alcoholic self-destruction, loneliness† (Mays 32). His short story â€Å"Cathedral† is about a young couple, who have a visitor coming to stay with them. This visitor, Robert, is the wife’s friend, and he is blind. The narrator, the husband, has never met someone who is blind, was bothered by that. To him, being blind meant constantly needing help from others. His depiction of blindness was what he has seen

Analysis Of The Poem Nine Days Later - 1973 Words

Nine days later Gray, nimbostratus clouds blanketed the L.A. skyline, the promise of rain becoming more of a threat with each passing hour. However, the bleak, November day suited Tom’s pensive mood, the impending storm mirroring the tumultuous thoughts brewing within his mind. After countless cups of coffee and only three hours’ sleep, he was on edge, caught in a web of his own making. He wandered in aimless circles around the living room floor, his pinched face showing clear signs of agitation, his heart thumping rapidly in his chest. For the tenth time in less than five minutes, he glanced at the clock, unsure if he wanted his visitor to arrive or not. But despite his apprehension, he knew he needed to face his demons, and a gloomy†¦show more content†¦Ã¢â‚¬Å"Hey, Coach, thanks for coming.† The hard lines trenching Fuller’s brow softened, erasing years from his face. â€Å"It’s good to see you, Hanson,† he murmured, his gaze taking in Tom’s appearance. â€Å"You look†¦ better.† Embarrassed, Tom ducked his head, the memories of their last meeting filling his mind. Teetering on the edge of a breakdown, he’d refused to reveal what had occurred at the Pi Tau hazing, and his reluctance to talk had been a pivotal moment in their relationship. From then on, he’d avoided contact, preferring to relinquish his gun to Penhall rather than to the man who had an uncanny ability to read his thoughts. But all that was in the past. The time had come to face the captain who had helped mold him into the outstanding police officer he had once been. 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Gender Roles in Harry Potter Free Essays

string(146) " Already knowing the reason for the enchanted ceiling, she attains a position in the newly formed social triumvirate as the knowledge repository\." Girls in young adult fantasy novels tend to fare rather poorly, especially in the light of Susan from the Chronicles of Narnia. When  Aslan  admits the  Pevensies  into paradise, Susan is barred because she has forgotten Narnia and is more interested in stockings and the real adult world, because she has dared to want to grow up. Jill Pole comments: aâ‚ ¬? She’s interested in nothing nowadays except nylons and lipstick and invitationsaâ‚ ¬? 1. We will write a custom essay sample on Gender Roles in Harry Potter or any similar topic only for you Order Now C. S. Lewis presents a conservative view of girls in the fantasy genre, that they will be drawn into their own adolescent fantasies and will abandon the secondary world. Philip Pullman compounds this with his treatment of Lyra in the His Dark Materials trilogy where she is the protagonist in the first novel but cedes decision making and power to Will through the remaining narrative. Hermione Granger starts out challenging this conservative view but ultimately she is turned into a mother and sidelined from the world of action. Her role changes through the novel and this is not due merely to the maturation of the character as she ages but also the needs of the male dominated groups around her, from the school group with Harry and Ron to the Order of the Phoenix. A quick glance offers the view that between 11 and 15 she is more rebellious whilst between the ages of 16 and 17 she takes on a sisterly role before her final appearance as a mother. In the Harry Potter novels  Hermione  is variously a bookish individual who supports and guides Harry through her research and work. She is the dominant force in Harryaâ‚ ¬Ã¢â€ž ¢s success until the sixth novel,  Harry Potter and the Half Blood Prince, where her role as Harryaâ‚ ¬Ã¢â€ž ¢s educator is taken by  Dumbledore. Eliza  Dresang  sees Hermione as being far more successful than she is made out to be by  Farah  Mendlesohn. Hermione gains agency and is able to take more control of her situation than  Mendlesohn  gives her credit for through her own actions, finding aâ‚ ¬? evidence in the text to be considerably more optimistic about Hermione’s self-determination than does Mendlesohnaâ‚ ¬? 2  through her determination about being sorted by the Hat and aâ‚ ¬? refuses to be deterred from her purposes, whether it be learning, admonishing about rules or †¦ championing the underdogaâ‚ ¬? 3. Mendlesohn comments that aâ‚ ¬? Hermione is accepted in the social structure of the school only because she is Harry’s friendaâ‚ ¬?   and that aâ‚ ¬? [r]adicalism, as embodied by Hermione, is irrational, ignorant, and essentially transientaâ‚ ¬? 5. Though her attempts at freeing the house-elves are doomed, she is more successful at galvanising her peers and enabling Harry’s success through her contributions. There is another issue to consider though and that is one of genre. The first five Harry Potter books are clearly school stories. Motifs, such as the annual arrival via the steam train and the term times with the enforced stay over Christmas, come from this genre. Instead of only competing in sports for honour such as Quidditch, house points are awarded or taken away for behaviour or acts of bravery. In the final two novels, the structure of the novels change to being a more conventional fantasy series wherein Harry must defeat  Voldemort in a final conflict. This switch to the fantastic, in particular a male dominated fantastic world, means that Hermione must change roles to remain in the world since we rarely see any lone witches who have not turned to Voldemort such as Bellatrix Lestrange. This change of genre changes the expectations placed on the characters by readers and the roles which they play. School stories, in the mould of Enid Blyton’s  Malory  Towers or  St Clare’s,  offer  the reader a tale of a group of children who go on adventures limited in scale by location, an isolated school, and time, terms end and the year is punctuated by holidays. They offer a degree of  carnivalesque  expressed in the capers of the students which are tamed by the teachers but also a continuing discourse of maturation and acculturation to the wider adult world which must be entered. Parents exist at the edge of the story, referred to in letters or bringing their children to school. Once the anarchic time at school comes to an end, the parents represent the roles that the children will adopt. The fantastic world that Rowling constructs is one which begins as potentially subversive with Hermione challenging perceived wrongs and gaining a more powerful agency in the world through her knowledge. As she matures, the world is fully extended past Hogwarts and becomes deeply conservative and male dominated and Hermione has to re-ascertain her social standing on the edge of the group, her enabling agency now of no direct use to Harry. Hermione matures in the series changing from the shy, bookish outsider to being, in effect, a big sister character to Harry and Ron but at the cost of her own agency and talents. As she matures into this role, she changes from being an inquisitive person, pushing her own bounds of knowledge and even her sanity, to being slightly calmer but clearly not of equal standing with Ron and Harry who are allowed to take active roles into world. When we first meet Hermione on the train going to  Hogwarts, Rowling presents her an unkempt, exploring child unafraid to make new friends or to go up and visit the train driver. She is described as having aâ‚ ¬? a bossy voice, lots of bushy brown hair and rather large front teethaâ‚ ¬? (Harry Potter and the Philosopher’s Stone, p 79) and already wearing the school colours. She interrupts Ron and Harry who are tucking into a carriage way feast of sweets. Curious, she challenges Ron to show him the magic trick which he is attempting. As the train approaches the station, she encourages the two boys to don their robes and questions whether they have been fighting already. Her drive towards perfection is shown in her encyclopaedic knowledge of the school drawn from reading the history. Already knowing the reason for the enchanted ceiling, she attains a position in the newly formed social triumvirate as the knowledge repository. Hermione comes back from the school holidays a day early whilst the friends are trying to find out who Nicholas  Flamel  is and is aâ‚ ¬? torn between the horror at the idea of Harry being out of bed†¦ and disappointment that he hadn’t at least found out who Nicholas Flamel wasaâ‚ ¬? (Philosopher’s Stone,  p158). Her curiosity and good behaviour are at odds since she is aware that the answer may well lie in the forbidden section of the library but that entry  transgresses  the school rules. Although it is Harry who discovers Flamel by accident on the back of the collector’s card he got on the train, it is Hermione who links him to the Philosopher’s Stone through a book she got aâ‚ ¬? out of the library weeks ago for a bit light reading aâ‚ ¬? (Philosopher’s Stone, p. 161). Ron’s only comment, aâ‚ ¬? Light? aâ‚ ¬? (Philosopher’s Stone, p. 161), a suggestion that knowledge is not highly prized in Hogwarts as opposed to  Quidditch. It was Hermione who noticed that Fluffy was standing on the trapdoor (Philosopher’s Stone, p120), a fact that both Ron and Harry missed. Yet her achievements come at a social price. Hermione’s adherence to the school rules is shown inPhilosopher’s Stone  after the finding of the trapdoor at night. When Harry receives a new broom after the destruction of his old one, her comments aâ‚ ¬? So I suppose you think that’s a reward for breaking rules? aâ‚ ¬? (Philosopher’s Stone  p. 123). Her forthrightness about the midnight incident is tempered by the argument with Ron and Harry. She is clearly upset by their reaction which is made worse by Ron’s careless comment about her not having any friends. Rushing past Harry, he notices that she is crying (Philosopher’s Stone  p. 127). When the troll is announced, both boys realise that it has gone to the girls’ toilets where Hermione is trapped. When Professor McGonagall enters, Hermione lies to protect them all and claims that she wanted to tackle the troll herself. Although this means that aâ‚ ¬? from that moment on, Hermione Granger became their friendaâ‚ ¬? (Philosopher’s Stone, p. 132), she can only do so by lying to a teacher and so overturns her previous rigid adherence to rules. She has to adopt the boys own world view. In  Harry Potter and the Chamber of Secrets, Hermione offers to make the Polyjuice Potion to see what Malfoy knows about the chamber’s opening. She tricks  Lockhart  into signing a slip for ‘Most  Potente  Potions’ to fool the Librarian (Chamber of Secrets, p. 124). When Ron says that they will need to steal from Professor Snape’s private stores, she retorts: aâ‚ ¬? Well, if you two are going to chicken out, fine†¦Ã‚  I  don’t want to break the rules you know. aâ‚ ¬? (Chamber of Secrets, p. 125). Hermione is aware that they have already obtained a permission slip that Lockhart has signed without realising what it is (using his own arrogance), that the recipe relies upon illicit goods and that the boys cannot discover Malfoy’s perceived role without trickery. Despite her protestations about the rules, she is aware that these will need to be broken to be successful. When they come to making the potion, the group need parts of their victims and Hermione is too hasty in taking some hair from Millicent  Bulstrode  in Wrestling and accidentally turns herself into a cat much to Myrtle’s delight, aâ‚ ¬? Wait till everyone finds out you’ve got a  tailaâ‚ ¬? (Chamber of Secrets, p. 169). Whilst Ron and Harry have used her Sleeping Potion to knock out  Crabbe  and  Goyle, Malfoy’s henchmen, Hermione’s own attempt has backfired and so she is unable to help get information from Malfoy. Her overachievement turns her into a figure of fun. Although she is able to assimilate Harry and Ron’s worldview into her own perceptions, she is unable to fully join their world although she is the enabler for their plans through the potion and the linking together of the clues in  Philosopher’s Stone. Her overachievement comes to a head in the  Harry Potter and the Prisoner of  Azkaban  when she is given the use of the Time-Turner. In Snape’s Potions class, Neville is aided by Hermione to perfect the Shrinking Solution but when Ron and Harry turn to challenge her after the deduction of points, she disappears only to reappear a few minutes ater with her bag falling apart through weight of books. When she brushes off Ron’s challenge about the contents, he muses aâ‚ ¬? Do you get the feeling Hermione’s not telling us something? aâ‚ ¬? (Prisoner of Azkaban, p. 99). Clearly Hermione is unable to tell the boys about Professor  McGonagall ’s  gift of the Time Turner. In the Defence against the Dark Arts exam, Hermione comes into contact with the  Boggartand after aâ‚ ¬? a minute inside it [the  Boggart’s  trunk], she burst out again, screamingaâ‚ ¬? (Prisoner of Azkaban, p. 234). The Boggart, which presents worst fears, has suggested to her that Professor McGonagall will fail her in an exam, so her fears of academic and also personal failure come to the fore. Ron is still inclined to laugh at Hermione’s fear since he will not excel academically. Despite their close bond, Hermione’s academic achievements have always separated her from the boys. It is only when the situation demands that time is altered that she is able to tell Harry. When they fail to saveBuckbeak  the first time,  Dumbledore  suggests to Hermione that the situation can be saved by going backwards and Hermione confesses to Harry, aâ‚ ¬? I’ve been using it all year to get to all my lessonsaâ‚ ¬? (Prisoner of Azkaban, p. 289) but she still cannot work out why Dumbledore has suggested going back three hours. It is up to Harry to formulate the plan to save the  Hippogriff  and Sirius. Once again, Hermione’s mental achievements enable Harry but she is unable to complete the reasoning for the shift in time. Hermione proves herself via her academic prowess and enables Harry and Ron to complete various challenges. She is the person to whom the boys go when they have difficulties with the homework. Lupin praises her  as the aâ‚ ¬? inest witch of her ageaâ‚ ¬? (Prisoner of Azkaban, p 253)  in the Shrieking Shack  as she becomes hysterical at his perceived betrayal of her loyalty, aâ‚ ¬? I didn’t tell anyone†¦ I’ve been covering up for youaâ‚ ¬? (Prisoner of Azkaban, p 253). Her need to prove herself academically is challenged and Ron’s reaction is to want to lau gh. Despite her achievement and regular help for Harry and Ron, it is only the teachers who really prize her accomplishments. She is the character most likely to fail through overachievement. Her role is clearly defined in the school story as the swot. The school story genre allows her this room as a defined role but it she must adapt when the genre changes to a conservative high fantasy wherein gender roles are somewhat different. During the  Harry Potter and the Half-Blood Prince, she reverts to the quiet studious Hermione of the first novel when Harry gets the  magicked  version of the potions book. As Harry falls under its spell and useful marginalia, she becomes increasingly exasperated at his lack of work or effort in the class commenting aâ‚ ¬? Well, it wasn’t exactly your own work, was it? aâ‚ ¬? (Half-Blood Prince, p 182). She and Ginny are protective of Harry and test the spell book which he has picked up, though they do not see the inscription claiming it is the property of the Half-Blood prince. With the aid of Ginny Weasley, she also defends him during the setting up of the self-help Dark Arts group, the  acronymed  DA, in  Harry Potter and the Order of the Phoenix. Gathering the curious students together in the Hog’s Head, she comments aâ‚ ¬? well I thought it would be good if we, well, took matters into our own hands†¦ And by that I mean learning how to defend ourselves properly, not just in theory but doing the real spellaâ‚ ¬? Half-Blood Prince, p 303). Though she is instrumental in gathering the class, she immediately reverts to her supporting role and allows Harry to discuss the events at the end of  Harry Potter and the Goblet of Firewhere he met the revived Voldemort. Her tenure as Prefect in  Harry Potter and the Order of the Phoenix  shows her stopping the  Weasley  twins from recruiting junior members of the school to test their joke wares,  saying aâ‚ ¬? I told you this morning, you can’t test your rubbish on students! aâ‚ ¬? (Order of the Phoenix, p 229) whilst Ron, her fellow Prefect, looks on from the side. Although she is active in keeping the more extreme elements of the carnivalesque from taking over the school in the form of the Weasley brother’s joke wares, it does mark the apogee of the progression from swot to Prefect in the school novel. Though these roles are usually played by various characters in the school story genre, Rowling has rolled them into one person who exemplifies the qualities of Hogwarts and, in particular,  Gryffindor. Though Hermione is keen on the maintenance of the status quo, she becomes increasingly vocal against the abuse of power in two areas. She has mixed success but it allows her to retain her role in the social cohesion of the friendship group and to begin organising others in the school. Firstly she challenges a perceived abuse of the house elves by the  wizarding  classes and sets up the Society for the Protection of Elvish Welfare, SPEW. This act comes after  Dobby  is freed by Harry in  Harry Potter and Chamber of Secrets. Hermione starts knitting hats to free the elves from their slave positions at Hogwarts inOrder of the Phoenix  and when challenged about this by Ron, exclaims aâ‚ ¬? Of course they want to be free! aâ‚ ¬? (Order of the Phoenix, p 230). Whilst it may mirror  Rowling’s  own time working for Amnesty International, she undermines Hermione by having Dobby pick up all the hats as the elves are offended by them. Though she gains the partial support of Dumbledore as he explains to Harry that he had encouraged  Sirius  to treatKreacher  with kindness  (Order of the Phoenix, p 733),  Ron and Harry dismiss her efforts. To an extent, she loves hopeless causes and sets out to free the elves despite their reluctance to change their positions. Secondly, she attacks the misuses of authority by teachers, such as Severus Snape and Dolores  Umbridge. In  Prisoner of  Azkaban, Snape takes over Lupinaâ‚ ¬Ã¢â€ž ¢s classes while he recovers from his change. Ignoring the class protests he begins to set them work which will provide clues to Lupinaâ‚ ¬Ã¢â€ž ¢s condition and Hermione protests  (Prisoner of Azkaban, p128) which encourages Ron to defend her and receive detention. She becomes increasingly agitated by  Snapeaâ‚ ¬Ã¢â€ž ¢s  manner and challenges him through questions. Though she has been able to answer the questions that he puts to the class since the first book, earning his contempt, she now uses these as a challenge to his authority through passive disruption. In  Order of the Phoenix, Dolores Umbridge attempts to run a school based on the traditional school model of learning the theory of Defence against the Dark Arts rather than practical lessons. Hermione listens to  Umbridgeaâ‚ ¬Ã¢â€ž ¢s  long speech which sets out the rationale for the coming changes. During the first Defence against the Dark Arts lesson she immediately questions  Umbridgeaâ‚ ¬Ã¢â€ž ¢s  passive stance through using Umbridge’s insistence on pupils raising their hands to ask questions (Order of the Phoenix, p 217-218). Asking the question, she repeats herself when the answer is not forthcoming. Hermione continues this with the creation of the Dark Arts or  Dumbledoreaâ‚ ¬Ã¢â€ž ¢s  Army group. As Umbridge tries to crack down on any nascent dissent against the Ministry of Magicaâ‚ ¬Ã¢â€ž ¢s policy, Hermione comes up with the plan of setting a group to rectify the lack of practical training. Facing the belief that Harry killed  Cedric,  fuelledby the Daily Prophet, she motivates the students to come together and to learn practical defence. As she does this she comments aâ‚ ¬? d’you know †¦ I think I’m feeling a bit  Ã¢â‚¬ ¦ rebelliousaâ‚ ¬? (Order of the Phoenix, p 559). Rather than continuing her challenge to misplaced authority, once the school story ends, she moves towards the role of the sister. Whilst on the run from the Ministry of Magic in  Harry Potter and the Deathly HallowsHarry confesses to Ron that Hermione is aâ‚ ¬? like a sister,aâ‚ ¬? he went on aâ‚ ¬? I love her like a sister and I reckon she feels the same about meaâ‚ ¬? (Deathly Hallows, p308). To some degree she follows the path of  Lyrain Pullman’s ‘His Dark Materials’ trilogy where the she develops her challenges early on but end up giving up independence. Before she meets Will, Lyra is free to challenge the authority figures around her but after the meeting, when Will is cooking an omelette, he commands aâ‚ ¬? ’Find a couple of plates’ he said, and Lyra obediently did soaâ‚ ¬? (The Subtle Knife  p 25). After the defeat of Voldemort, we see her and Ron on Platform 9 A? s waving their children off on the Hogwarts express. The action occurs around Harry and Ron with Hermione chiding them when they see Scorpius, Draco’s son, with aâ‚ ¬? Don’t try to turn them against each other before they’ve even started schoolaâ‚ ¬? (Deathly Hallows, p605). She is keen to maintain stability in the world for the children. As she develops into adolescence, she moves away from her rebellious side straight into motherhood, so avoiding Susan’s fate in the ‘Chronicles of Narnia’. Though she moves into adolescence, she is faithful to Ron, declaring her love for him in the  Deathly Hallows. Despite Lupin’s proclamation of her talent, we finally see Hermione taking her children to platform 9 A?. She avoids Susan’s banishment from the magical world because she cares for her friends and, ultimately, children and is not selfish as Susan is implied to be by Aslan in the quotation at the beginning of this essay. Yet it seems a poor fate for all her achievements. The boarding school genre allows Hermione to excel academically and be an equal to Harry and Ron. She develops and is capable of taking on teaching duties and, it would appear, likely to follow  Minerva  McGonagallas the archetypal spinster teacher. She is the archetypal swot who becomes Prefect as she gets to the end of her school years. Her insistence upon hardwork and her dislike of cheats, even if they are her friends, show Hermione’s dedication to maintaining order, though not at any price. She also takes on what appear to be hopeless causes, the release of the elves and then challenges against misused authority, despite the ridicule of her peers. Hermione stands against inequality and tries to effect change. Dumbledore is the only person who backs her stance, and this is only very partially, as he explains to Harry. Dealing with her own social group, she is more effective in galvanising her peers into forming the Dark Arts group. Yet she is on the edge of the social group. On the train to Hogwarts, it is Harry who accepts her into the nascent group and then more firmly once the troll is defeated in the bathrooms. Once the  OWLs  have been taken, Hermione moves away from being the bright academic, her role in helping with Ron and Harry finishing their homework redundant, to being involved in maintaining the group with Ron and Harry through her caring for both boys. It is only Hermione who can cope with the real world of Oxford Street before they manage to get into more magical territory. The school narrative allows Hermione to blossom as an individual as the closed world of Hogwarts bars the real world and gives her space as a person. Once the real world begins to encroach, she begins to move away from her academic achievements and into the big sister role. At one level Rowling sees Hermione as a caricature of her school memories but at another, the Harry Potter series fails to address the idea that girls can do more than become mothers or spinster teachers. In Narnia thePevensie  children are either kept in childlike paradise away from ever growing up or they are ejected from paradise for thinking of the adult world. In ‘His Dark Materials’, Lyra moves from challenging the misplaced authority of Mrs  Coulter  and Lord  Asriel  to leaving Will to make all the decisions. Hermione’s own contributions to the group come through enabling Harry to complete tasks with the requisite knowledge that she can find or discern. Once the fight against Voldemort moves into Harry’s own history, only Dumbledore can help Harry. Whilst on the run in  Deathly Hallows, it is Hermione who tries to keep the group together and to work out Dumbledore’s final clue in the book of fairy tales. She is a catalyst for those around her and remains sidelined. Whilst she shows that she can develop herself against  Mendlesohn’s  analysis through her own talent,Dresang’s  assertion that Hermione gains strength through empowering others is shown to only be partial; she sacrifices her individual power and role to help recreate a safe world. Once she has enable Harry, Rowling moves her into a maternal role, her highest honour. It short changes the Witch that Lupin described as the brightest of her age. Bibliography Jackson, Rosemary,  Fantasy: The Literature of Subversion  (Routledge, London, 1981) Lewis, C. S. ,  The Last Battle(Harper Collins, London, 2005) Moorcock, Michael,  Wizardry and Wild Romance: A Study of Epic Romance  (Gollancz, London, 1987) Pullman, Philip,  The Subtle Knife  (Scholastic, London, 1997, 2001 reprint) Rotruck, Amie Rose, ‘Where Have All the Tomboys Gone? : Female Figures in British Children’s Fantasy Series’ in  Foundation: The International Review of Science Fiction  Volume 32, Number 88, Summer 2003 Rowling, J. K. , Harry Potter and the Philosopher’s Stone (Bloomsbury, London, 1997) Rowling, J. K. ,  Harry Potter and the Chamber of Secrets  (Bloomsbury, London, 1998) Rowling, J. K. ,  Harry Potter and the Prisoner of Azkaban  (Bloomsbury, London, 1999) Rowling, J. K. ,  Harry Potter and the Goblet of Fire  (Bloomsbury, London, 2000) J. K. Rowling,  Harry Potter and the Order of the Phoenix  (Bloomsbury, London, 2003) Rowling, J. K. ,  Harry Potter and the Half-Blood Prince  (Bloomsbury, London, 2005) Rowling, J. K. ,  Harry Potter and the Deathly Hallow  (Bloomsbury, London, 2007) Reynolds, Kimberley (ed),  Modern Children’s Literature: An Introduction  (Palgrave, Basingstoke, 2005) Whited, Lana A (ed),  Harry Potter and the Ivory Tower: Perspectives on a Literary Phenomenon  (University of Missouri Press, Columbia, 2004) How to cite Gender Roles in Harry Potter, Papers

Accounting and Finance Considering Capital Budgeting †Free Samples

Question: Discuss about the Accounting and Finance Capital Budgeting. Answer: Depicting the significance of ethics conducted by companies while considering capital budgeting: The use of ethics is mainly essential for companies while contemplating the capital budgeting. Budgeting is mainly associated with allocation of the companys overall financial resources in different segments of the business. This mainly needs ethical consideration, as biased personal could not effectively comprehend all the relevant activities of the company. Certain attributes should be maintained for accommodating ethical capital budgeting in the company. The relevant factors are honest books, responsibility, decency, and conflict of interest, which effectively help the company in maintaining ethical capital budgeting in its vicinity. Andor, Mohanty Toth (2015) mentioned that capital budgeting mainly requires unbiased decisions, which could help in improving viability of the business and make adequate resource allocation. Capital budgeting mainly helps companies to understand future cash inflows, evacuate new investment projects, and monitor control expenditure. The significant variations of capital budgeting needs to be complimented with adequate ethical considerations or else companys future growth and prospects will not be achieved. For example if the company uses unethical biasness in making adequate decision for a certain project and takes wrong valuation of the future cash inflows. This might reduce cash generation capacity and increase cash outflow. This could eventually hamper companys growth and reduce its ability to maintain profitability. Thus, it is essential for companies to maintain ethics within its capital budgeting system. Rossi (2015) stated that with the use of ethical budgeting system, companies are mainly able to improve its cash generation capacity and reduce its overall expenditure. References: Andor, G., Mohanty, S. K., Toth, T. (2015). Capital budgeting practices: a survey of Central and Eastern European firms.Emerging Markets Review,23, 148-172. Rossi, M. (2015). The use of capital budgeting techniques: an outlook from Italy.International Journal of Management Practice,8(1), 43-56.