Trends in Healthcare Essay Example for Free

Trends in Healthcare Essay In the history of the United States there have been an overall transformation of the way the public experiences health care. Paul Starr eloquently explains trends that have affected the health care system in his books The Social Transformation of American Medicine and Remedy and Reaction. An in depth overview of the history of medicine gives a greater understanding of the trends that shape the system we experience today. The first major trend that shaped medicine is the delivery of medicine to the public from the 1800s to present. In the early 1800s individuals received medical care by individuals that were not properly trained and did not have proper knowledge of sanitary care for patients. In the 1850s the invention of the stethoscope, ophthalmoscope, laryngoscope, microscope x-ray, and EKG provided a transforming medical community that began relying on technology of care to provide better diagnoses and care. With the invention of these medical devices, patients moved from caring for individuals in their homes to the hospital facilities and contributed to a higher survival rate. With the development of more hospitals to care for the sick, we also began to see the formation of multiple hospitals to tailor to multiple religious denominations. The next major trend discussed in the trend in the way we finance health care. Financing for health care in the private sector began to change in 1929 when Blue Cross was formed at Baylor University for school teachers in Dallas, TX. There was a dual purpose for this program. It provided coverage for individuals so that there would not be financial consequences as a result of hospital care. In essence it was a safety net to also ensure hospitals received payment for services rendered. The insurance company assumed the risk, based on the profitability of a claim. In 1939 another program was developed called Blue Shield. Blue Shield was designed by a group of physicians as a way of reimbursing physicians services and medical and surgical services. The coverage did not include coverage for pharmaceuticals. Monetary payment was made to an insured which could be assigned to a provider. We also saw the development of the Federal  Government third party payers such as Medicaid or Medicare. Especially today we are seeing the move toward more regulation and the possibility of requiring health coverage for all with a penalty if the coverage is not purchased. The third trend we see in health care is the utilization of health care. In the early 1800s care was primarily provided to patients who were likely facing a detrimental condition for which there was no care. Methods were not in place to provide surgeries that were sanitary and technology had yet to provide equipment to diagnosis conditions. In the 21st century we see a trend to move toward preventative care. More and more health insurance companies are offering incentives on deductibles as a way to encourage annual visits so as to possibly lower health care costs for major illnesses that could arise and could possibly be prevented in identified earlier. Health care is a field that is forever changing, and it could not be truer than when we turn on the news to see the latest headlines regarding Obamacare. There has long been a struggle on how to best provide coverage availability to Americans without infringing on their freedom of choice. Health care continues to be one of the most costly challenges we face, and as we have seen in the past decades, it is a topic that is ever transforming.

Social Effects Of The Industrial Revolution

Social Effects Of The Industrial Revolution Industrial means using machines to produce. Revolution means changing things upside down. (Hepplewhite and Campbell,2002) The Industrial Revolution brought about the systems of production and the production way had changed from home-based hand manufacturing to large-scale factory. It was took place in England in the late 18th century. It is a production and technological revolution. The invention of machinery and application as a symbol of this era. The great turning points in human history may be the British Industrial Revolution (Holmes, 2000). The technological change the kinds of different creation of new knowledge (Mokyr, 1999). In the eighteenth century people who lived in Britain earning by work on the land. The conditions of life and labour had changed in small difference of configuration, sub-soil and climate. Some earlier inventions failed because of incomplete ideas, other better materials were not to hand because of lack of skill on workers (Ashton, 1961). In the middle o f the 18th century, the British bourgeois revolutionaries overthrew the British feudal autocracy. The constitutional monarchy system was established. The Britain became the first country which the bourgeoisie dominated the nation in the world. As a result, the prerequisite of Industrial Revolution was promoted during this time. This report will describe the causes of the Industrial Revolution and effects on social life during the Industrial Revolution. It will be divided into three parts. Firstly, analysis the cause of the Industrial Revolution. Secondly, outline the effects of Industrial Revolution on social. Thirdly, the inventions during the Industrial Revolution will be evaluated. 2. Analysis the Cause of Industrial Revolution The population increased in the 18th century (Oakland, 2006). The people had to look for more food and goods. The agricultural economy had changed into industrial country. People had to find new ways to increase production. Therefore, the people who came from the countries were looking for the jobs in city factories. Some of the villages fields had became into the manufacturing centres (Oakland, 2006). The new inventions New machines were invented during that time. The production of farms and factories ways had changed. So the production was increased more quickly than before (Hepplewhite and Campbell, 2002). For example, the spinning jenny which was invented by James Hargreaves could spin 120 threads at one time (Hepplewhite and Campbell, 2002). And James Watt invented the steam engine using it to create new form of powering. The new inventions changed the production ways and many inventions from this period are still used in modern society. The colonies overseas and labour The overseas colonies were set up by the Europeans and the cheap labour could get easily from the colonies. This increased the speed of the production and they could sell more goods. They could also get cheaper raw materials from the colonies to produce cheaper goods (Mokyr, 1999). Many factory workers were children. The supervisors were treated them badly and they had to worked for long time everyday. The children were young and they had earned few pence to afford food. The labour had suffered the worse living condition during that time. The capitalists expand their business In order to earn much money, the capitalists had to expand their business and produce more goods. They needed to find a quicker way to produce more goods. The capitalists who played important roles and helped the Industrial Revolution grow speedy. They became one of the most powerful forces in Britain, squeezing more surplus value out of the labour (Yale, 2010). The feudalism and monopoly were ended The Europe feudalism and the monopoly of the upper classes were ended. People could have opportunity to involving in more trades. The reason why they need of goods increased was that they had to earn much money and more goods. They wanted the factories to produce goods faster so that they could get more goods.( Mokyr, 1999) 3. The Industrial Revolution Effects on the Social Advantages 3.1.1 The capitalism The capitalism possibly was grown by the technology change (Science Encyclopaedia, 2010). Before the Industrial Revolution, the people who lived in Britain might suffer from the worse quality of living conditions. The industrialist affected the decline of the traditional handicraft. Some scientists had come up with mind and invented several new productions. Owing to the new inventions, the facilities of production were improved. The factories used the latest facilities to produce and benefited from the technology changed. The system of manufacturing promoted the capitalism built up during the Industrial Revolution (Freeman, 2010). 3.1.2 Social structure The nations social structure was changed during the revolution (Science Encyclopaedia, 2010). Before the Revolution the majority of the people lived in small villages, working in agriculture or workshops. Their hands were treated as working tools in that time. In fact, about three quarters of Britains population lived in the countryside, and the predominant occupation was farming (Foster, 1979).However, during the industrial revolution there were many people worked at the new factories. These have to move to towns and cities in order to be close to their new jobs. It also meant that they worked for a long time but got the less money from the industrialists. As the 75% of early workers were women and children, they had to send out to work (Stearns, 1991). Most classes ultimately benefited from the huge proceeds that were being made, and most workers were got better wages by 1820. 3.1.3 The new mode of production and technology The advanced mode of production and technology had spread all over the world, the old system and ideas were impacted. Factory owners controlled the means of production rapidly became rich. The new technologies inspired the economic growth. As a result, the goods produced and a demand for raw materials which through Europe increased during the 19th century (Haberman). Some of these European countries led nations to look for colonies abroad in which to trade and produce goods. Many of these countries around the world accepted the industrial ideas, the new mode of production and technology were used gradually in the rest of the world. Disadvantages 3.2.1 Pollution With the development of the industrialization and urbanization, both of the developed and the developing countries started to exploit the natural resources. For example, in the energy field, the coal, oil and gas are both to support the factories and run their transport system. The coal as the main source of energy in the factories at the time used. In order to run the machines, the workers should make the coal burnt to heat the water which could power the steam engines. Large amounts of carbon particles were released into the atmosphere (Oracle). Water pollution was another prime problem during the time of the revolution. The factories dumped the toxic industrial refuse into the rivers thereby contaminating the water system. The industrial revolution had been beneficial to the economy, raising standards of life style and producing new goods. But it had also brought about some problems in the ecological system of earth (Oracle). 3.2.2 Overpopulation Population, its growth, stability or decline, and its relationship to economic growth (Hartwell, 1971). Because of the Industrial Revolution, many factories employed the labour to work and the people who lived in the countries wanted to move to the city for jobs. Due to the Industrial Revolution, the population growth in eighteenth century and probably increased 75 per cent over the sixteenth and seventeenth centuries (Hartwell, 1971). 3.2.3 The poor sanitary condition Approximately 50% of infants were died before the age of two during the early Industrial Revolution (Stearns, 1991). Their working hours were longer. The working hours usually from six in the morning until eight-thirty in the evening. A six-day week was not uncommon. Work places were often poorly ventilated, over-crowded, and replete with safety hazards. Men, women, and children were employed at survival wages in dangerous and unhealthy environments. The Miserable working condition and the different kinds of pollution affected the peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s health (Foster, 1979). The Important Inventions during the Industrial Revolution The Industrial Revolution was created some significant scientific inventions which were led to the mechanization of the textile industry, improved railway networks and improvement of iron making techniques. There are some inventions still used in modern times (Holmes, 2000). 4.1 Spinning Jenny James Hargreavesà ¢Ã¢â€š ¬Ã¢â€ž ¢ Spinning Jenny in 1766. The first machines could only spin 8 threads but were soon improved to spin 100 threads (Hepplewhite and Campbell, 2002). These machines were so small that working in the cottages and rapidly increased production. It is an important invention in the industrialization of the textile industry. 4.2 Water Frame Richard Arkwrightà ¢Ã¢â€š ¬Ã¢â€ž ¢s water frame was a successful inventor. The water frame was bought by owners all over Britain (Hepplewhite and Campbell, 2002). The Water frame was a large wheel and it was turned by running water. This was made the machinery work in factories. This invention led to the building of a number of factories and is regarded as the promotion of the Industrial Revolutionà ¢Ã¢â€š ¬Ã¢â€ž ¢s development. 4.3 The Steam Engine In spite of the first steam engine was developed over fifty years before the industrial revolution, the Industrial Revolution had made a massive impact on improvements and revisions. James Watts development of the steam engine led to a great number of further developments. the new form of powering a machine could be used anywhere to create energy (Hepplewhite and Campbell, 2002). Conclusion To sum up, the Industrial Revolution was a real revolution. It had consolidated the dominant position of bourgeois. The Industrial Revolution changed the life of people and the way people lived for a long time. During the Industrial Revolution many people thought there were several negative effects but there were actually some positive effects in the Industrial Revolution. Furthermore, technology had spread all over the world and ideas had changed. Industrial Revolution was an outburst of new inventions in Britain and in other parts of the world. Many inventions from this period are still used today. During this time scientists and inventors changed the way humans thought, lived, and worked. It provided a better opportunity to express the opinions for someone who had new ideas. Because of the breakthroughs in science and manufacturing, a portion of society was able to grow healthier and wealthier. On the other hand, the new industrialization made the majority of society might pay the price. The successes of the technological changes were so profound internationally. So the Britain became the worlds leading power, as a result of the Industrial Revolution, for more than a century. The Industrial Revolution has a historic significance in these hundreds years. The people who lived in the developed countries but also the developed countries are benefited from the revolution. It is a meaningful revolution for Britain but as well in all over the world.

Impact Of Exchange Rate On Inflation In Pakistan

Impact Of Exchange Rate On Inflation In Pakistan Inflation exchange rate are two main factors of macro-economics. Inflation is a rise in the general level of prices of goods services in an economy by the passage of time. Exchange rate is very important factor in economic which impact imports exports of country. A country does not always want the exchange rate to fluctuate because an exchange rate influences the levels of its imports exports, which are the component of fiscal policy. Policy makers want to hold rate at a particular level or within a certain range in order to achieve given domestic policy goals related to the level of growth of GDP. In the perfect mobility the exchange rate movements and an adjustment of goods market is relative to asset market and consistent expectations. The extends that output responds to a monetary expansion in the short run, this acts as an effect on exchange depreciation which lead to an increase in interest rates (Dornbusch, 1976). There are three types of ways which gives stickiness in prices, the prices set by the firms in that currencies, the firms set the prices for currencies of consumers, or firms set the prices in the currencies of producers (Engel, 2001). When the exchange rates changes, the changes appear in the relative prices and make to generate additional uncertainty for equilibrium in markets. However, there is also defining that the changes in terms of trade play the larger role of changes in the exchange rates which affect the variability of exchange rates (Stockman, 1980). Inflation is one of the key indicators of the country and provides important information on the state of the economy and sound macroeconomic policies that govern it. Inflation is the production of the expenses of manner of things arise which leads to the advancement of the last in the price of meals. For example, if the matter is hardy and this leads to the increment of the price of the production of the costs of increasing, and in turn this leads to increasing prices to keep the crowd his profits. The discretionary nature of the existing monetary policy in Pakistan is inflation, and it is targeting to hit on the Pakistani economy by focusing attention on the monetary policy. So the government of Pakistan is to make monetary policy more transparent for achieving the explicit goal, and decreasing the inflation. Therefore, it is increasing the public understanding of the strategy of central bank to deliver the target, so the State Bank of Pakistan helps to provide an anchor for inflation expectations in the economy. The State Bank of Pakistan (SBP) has achieving a low rate of inflation in a high priority, and also aims to support the national country objectives of Pakistan to meet the economic diversification and competitiveness in the form of export from the world. 1.2 Problem statement This study is to examine the impact of exchange rate on inflation in Pakistan economy. 1.3 Hypothesis H1: The Exchange rate explains the inflation. 1.4 Outline of the Study The variability of industrial production output higher in the regime of fixed exchange rates instead of regime of flexible exchange rates (Flood Hodrick, 1986). The effect of consumption goods purchases by the government is not the private utility, but per capita real government expenditure are the composite of individual consumption of goods. So notice that the demand of money depends on consumption of goods rather than income and that is the important distinction of closed economies (Obstfeld Rogoff, 1995). Pakistan major import is crude oil which is purchased in dollars. If foreign exchange rate increases, it has increased the cost of oil that has adverse impact on the economy of Pakistan. Inflation is also caused by international loans and the national debt. As nations borrow money, have to deal with the interest that the final prices increase as a way to keep up with debts. The main problem of Pakistan is external debt, which has altered the economic balance. The most immediate effect of inflation is the declining purchasing power of the rupee and its depreciation. This study has been helpful for economic policy makers, foreign investors, economic analysts, business students who are interested in macro-economics studies. This study identifies how two macro-economic factors are related with each other. 1.5 Definitions Variables: For this study the following variables have utilized:- Exchange Rates Independent Variable: The exchange rates are foreign exchange rate between two currencies. Every country has a foreign exchange market and is one of the largest markets in all countries of the world. It converts 3.2 trillion USD currency conversion. It has two types i.e. fixed and floating exchange rates. Meese and Rogoff (1988), it depends on fundamentals such as money supplies, real incomes, interest rates and inflation. Listen Read phonetically Dictionary View detailed dictionary Inflation Dependent Variable: Inflation has increased the general level of prices of goods and services in an economy by the passage of time. Price inflation measure is the rate of inflation, the annual percentage change in general price index (usually the Consumer Price Index) over time. Effects of inflation on the economy have manifold and simultaneously positive and negative. Negative effects of inflation include a decrease in the real value of money and other monetary items over time, uncertainty over future inflation which discourages investment and savings, and high inflation leads to shortages of goods if consumers begin hoarding out of concern that prices increase in the future. Positive effects include a development of economic recessions, and debt assistance by reducing the real level of debt. CHAPTER 2: LITERATURE REVIEW The analysis of the monetary determinants of inflation is of obvious interest for the nations that pursue a policy of inflation targeting. This study focuses on Pakistani economy that is currently following an Inflation targeting approach or did so in the recent past. Currency stability plays an important role for the monetary authorities in this economy. Exception of real money growth rule is included in the estimation of Phillips curves for the four economies Bayesian model averaging (McCallum, 1999). Entrepreneurs seek stability in the course says that keeps the price of imported items from growth due to rupee depreciation, which is not only support the economy in general, but also exporters who use large amounts of imported cases in the production of exportable surplus. Since the beginning of this fiscal year, while the rupee has lost about 2.5 percent of its value against the dollar and its depreciation rate is unlikely to accelerate in the coming months due to continued inflow of foreign capital and funds. Also include the support of IMF, partial release of the fund, a coalition of U.S., which is part of its payment obligations by the Friends of Democratic Pakistan, extremely strong inflow of return of foreign workers of portfolio investments and possible pick-up in exports and foreign direct investment in the second half of fiscal year. Current rupee stability has helped in containing imported inflation and weakening inflation expectations. Bankers expect that trend continues throughout this financial year, a national unit is depreciated more than 7.0-7.5 percent during the entire fiscal year, against 19.5 percent last year. Businesses verify that the bankers are the forward currency cover in accordance with this expectation. What Pakistan needs today is not a platform to launch an economic revival program but what people need is an actual economic revival. The main problem of Pakistan is the foreign debt which has risen to unmanageable proportions in the last decade and the repayment of which has created turbulence in external balance of Pakistan to such an extent that it does not meet its minimum necessary development requirements. At present Pakistan cannot survive without fresh borrowings from foreign donor agencies. As emphasized by Choudhri and Hakura (2006), an important policy debate for the contemporaneous monetary and exchange rate policy implementations is to reveal the degree to which changes in exchange rates or import prices impact or pass-through into domestic consumer prices. Presently there are three rates of exchange i.e. the bank rate, the inter bank rate and the open market rate. The overall effect on the foreign exchange rates should not be more than 5 to 6 per cent as the increased inflow of foreign exchange have neutralize the effect of the increased demand of private imports. If the foreign exchange earners and remitters keep on getting a fair exchange rate for earnings, it is visualized that in the next few years exports can touch the $15 billion mark and overseas Pakistani remittances can fetch $5 billion. It was concluded that the exchange rate feed shock on domestic inflation, first at the level of prices of the manufacturer and then the level of consumer prices and the impact of shocks on the variables of price the various stages of the supply is different. The purchasing power parity theory doctrine means different things to different people. There are two versions of this theory that is called the absolute and the relative interpretation. The first version of purchasing power theory calculated as a ratio of consumer goods prices for any country that has tended to the equilibrium rates of exchange. In the second version of relative interpretation the rate of exchange rate have been determined between the two countries and quoted with general levels of prices of two countries. This version amend the international trade theory which have been the part of PPP, in which the non-traded goods (services) has been introduced, but the advantage is greater in regards of traded goods than non-traded goods, because of the assumptions of marginal rates of transformation. The relationship between purchasing power parity and exchange rates provides the international comparison of national incomes and living standards (Balassa, 1964). Lawrence (1976) gave another review of this purchasing power parity theory. It has define two applications in economics, the first application use of the conversion factor to transfer the data in one national way to another. The use of PPP is mainly the body of (index number theory) and applications of GDP that have improved over the years and path breaking studies in the area continue to appear. The second application of PPP did not have the widespread acceptance, which has remained the unsophisticated applications. Stockman (1980) develops the model of determination of prices of goods and exchange rates. The changes in commodity prices due to supply and demand affect the change in exchange rates by purchasing power parity deviations.The changes in exchange rates have failed to resemble the changes in prices of goods, because exchange rates more volatile than prices levels and inflation rates. The study proposes the equilibrium of exchange rates behavior and different international goods that have been traded. This relationship cannot exploited by the government, because greater the changes in terms of trade the larger the changes in exchange rates variability. The deviations from PPP persists that variation of exchange rates more than ratios of price indexes. The results found the two interpretation of the relationship between exchange rates and terms of trade. In the first, the causes that affect the changes in exchange rates also affect the change in terms of trade because prices of goods do not adjust to clear the markets. This interpretation also found in the research of Dornbusch (1976), and Isard (1977), the analysis formally differentiates the system with respect to exchange rates and allow prices to change but not the changing in asset stocks. The interpretation presented the elasticity approach of the foreign exchange market and the relation between the trade and exchange rates. Real supply and demand shocks affect prices and the derived demand of exchange rates. These changes in demand for foreign exchange result the supply and demand shocks and that should affect the equilibrium of exchange rates. In second interpretation the expected rate of change of exchange rates revealed on the forward foreign exchange market. This should be related the anticipated change in the terms of trade and the inflation differentials. A persuasive argument about the level of exchange rates is only associated with not causes of the relative prices changes. Bilson (1985) gives the empirical findings about macroeconomic and flexible exchange rate of the U.S dollar related to PPP theory. From the perspective of this research, the sluggish price adjustment in the commodity markets resulted in increased variability in exchange rates. For the demonstration of result it is important because the instability of floating exchange rate is due to the inherent differences between commodity and foreign exchange markets. The determination of the expected future rate is impossible, because it is more difficult to reject the forward parity condition. The major part of the forward parity is the variation in the premium is due to the forecast. The object of this study is to determine that if the forward parity failed is the cause of instability in the same way that the failure of purchasing power parity. The findings develop that currency risk premium is the important factor relative to floating rate system, and movement in the exchange rate are dominated by the non speculative activity and it has the adverse effect on world economy. Meese and Rogoff (1983) analyzed the outcome of sample forecasting accuracy on various models. The study estimated the horizons of the dollar with different country currencies, like Dutch mark, Japanese yen, and Britain pound that traded to weight the dollar exchange rates. It has also studied the flexible exchange rates with the monetary models of sticky price, so the model of sticky price, which incorporates the current account. The first model is structural models in which it requires to generate the forecasts of exchange rates and explanatory variables. It contains the explanatory power, but it is predicted badly because the explanatory variables are difficult to predict. The second is the univariate time series model in which it identifies a variety of prefiltering techniques involves differencing, de-seasonalizing and removing time trends. The relative performance of these techniques is of interest in itself. The third model use is the random walk model. It is also linked with this univariate time series model. It is used as the predictor of the current spot rate with the entire future spot rate, and it requires no estimation. In this study the performance of estimated univariate time series models or candidate structural model is no good instead it is worst. From a methodological stand point the view that the outcome of sample model fit is an important criterion when evaluating exchange rate, but the estimation of out of sample is failure with time series models that are well approximated the major country exchange rates. Feinberg and Kaplan (1992) evaluated and interact the real exchange rates index expectations is developed and used to explore the role of determination on domestic producer prices. The fact that time path of the exchange rate has directly affected the input costs, and the price of substitutes strongly. To examine the links between both actual and anticipated movements in the dollar and relative domestic producer prices, it chooses to analyze price responses to real exchange rate changes. The effect is dependent on the nature of substitutability between imports and domestic goods. The major finding is that the period of appreciation and depreciation over the past 10 years to inhibit the pass through in to domestic prices. In depreciation the market share to enjoy the continued good times kept prices other than expected. The theory of optimum currency areas, which is usually presented by the other name called flexible exchange rate system, but it is proponent as a device of depreciation that takes place of unemployment when the balance of payment is deficit and appreciation when it replaces inflation when it is surplus. The problem can be exposed and more revealed by defining a currency area within when exchange rates are fixed. Three answers can be given, first certain parts of the world are going through the process of economic integration, so new experience can be made and what constitutes the optimum currency area can be given the meaning of these experiments. Second those countries that have flexible exchange rates are likely to face problems with the theory of optimum currency areas, so these do not coincide the optimum currency areas with the national currency. Third the idea that illustrates the functions of currencies which have been treated in economic literature, and sometimes neglected in the problems of economic policy. In the currency area, countries with different currencies including national country currencies interact pace of employment in deficit, because there is the presence of inflation in the surplus countries. The argument for flexible exchange rate system is based on national currencies, and is valid about mobility of factor, so if it is high in the country and low in the foreign countries, the flexible exchange rates system on home country currencies has to work effectively. The concept of optimum currency area has practically applicable only in those areas, where the state has the political organization in the country. The factor mobility is most considered and is more relative rather than absolute concept, with both industrial and geographical factors. It is likely to change the alterations with time over time in conditions, with the conditions of political and economic stability. Money is the convenience that restricts the optimum number of currencies, so in terms of this argument the optimum currency area which is composed in number of countries (Mundell, 1961). In another review, the author defines the stabilization of capital mobility policy under the exchange rates which is fixed and flexible in the currencies markets. It concerns the theoretical and practical approach of the increased mobility of capital. Obstfeld and Rogoff (1995) analyses the global macroeconomic dynamics to supply framework based on competition and nominal prices. This study incorporates the prices rigidities that explain exchange rate behavior without insights of the intertemporal approach to the current account. The effects of macroeconomic policies on output and exchange rates have not been yet persuaded to abandon. The framework which integrated exchange rates dynamics and current account yields is a new perspective, it realize that when prices are sticky the government should spend on shock raises short run output and long run output. The assumption is that home and foreign government purchases the consumption goods that do not directly affect the private utility, but the per capita real government consumption expenditure is a composite consumption of individual goods. It explains that the composite consumption for the services is to balance the opportunity cost and notice that the money depends on consumption rather than income, that distinction is more important in closed economies. The results of this study develop framework that give new foundations about some of the fundamentals problems in international finance. It realizes that the existing Keynesian model is incomplete to offer a satisfactory treatment of exchange rates, output and the current account, but the model which is used in this study is more complex, because it yields simple and intuitive insights of monetary and fiscal policies. It can be extended in a number of dimensions, including non traded goods, market behavior, government spending, and labor market distortions and so on. It goes beyond the essentially statistical approach that handles the current account and exchange rates issues, most importantly this approach allows to analyze the welfare implications of policies. Melvin (1985) has regarded and focused that how the choice of an exchange rate system can affect the stability of the economy. The appropriate nature of the exchange rate system has differed of the disturbance to the economy. It presented the evidence that indicate that the approach is more consistent according to practice by actual country. The other approach is to reach the desirable price stability, in which some mechanism tells the floating rates superiority has become less in the face of monetary shocks. It finds that the flexibility in exchange rates depends not on openness and less important in the mobility of capital, but its positive effects were found for the economic development. The purpose of this study is to consider the determinants of exchange rates system choice, which indicates the theoretical approach with the country choices. The result found that the choice of an exchange rate system has the role of the disturbance to the economy. It suggests that the money shocks are the key of exchange rate system choice in an economy, in which it seeks to minimize the fluctuations in the country price levels. It also suggests that the greater the price shocks the more is a float, so it affects greatly domestic money shocks. Lothian and Taylor (1996) examines the real exchange rate behavior, and explains the variations in sample of stationary univariate equations in real exchange rates. The study investigates the additional insight in the exchange rates behavior that can be gained by considering the floating rate from the perspective of the data. These issues can be best understood on the subject of real exchange rates stability between the currencies of the major industrialized countries. Some of the pre-float studies support the fairly stable exchange rates in the long run. Subsequently, Dornbusch (1976), and Frenkel (1981), gave largely as the result of studies published, and reject the hypothesis of random walk behavior of real exchange rates. The PPP shows the empirical movements in real exchange rates were highly persistent and effective. Although the PPP is reject the hypothesis of non-stationary behavior of real exchange rates in the long run. The result of this study shows that the longest span of two countries exchange rates are significantly mean reverting. The first model result indicates the 80 percent of the variation in the exchange rates of the history data of two countries. By using of another model, the results explaining the performance of remarkably well in the floating, so that this model produce better forecasts of the actual exchange rates. In line with recent studies, it fined that this process of mean reverting is quit slow, with estimated adjustment of data. In the long run the PPP equilibrium is remaining a useful empirical approximation. Gerlach (1988) examine the dynamic interrelationship between innovations in monthly industrial production in a set of economies, specifically this study attempt the output fluctuations that have been correlated during the periods of fixed and flexible exchange rates. The current has to manage exchange rates flexibility that has reduces the interdependence across countries. It should follow the recent article of Flood and Hodrick (1986) in which it is argued that the variability have been higher during a regime of fixed exchange rates instead of flexible exchange rates, but the conclusion of author is striking so sharply. The results of this study of multiple country output movements under fixed and flexible exchange rates are clear. The variances of growth rates should be higher in the flexible exchange rates and in the fixed exchange rates periods. These variances are statistically significant related to the degree of openness and national income. Thirdly the output movements are correlated across countries under exchange rate regime, particularly the co movements in output are more important in the business cycle frequently during the recent years of managed exchange rates flexibility. CHAPTER 3: RESEARCH METHODS 3.1 Method of Data Collection The Data of Consumer price index (Inflation) has been collected from federal bureau of statistics while the data of exchange rate has been collected from Pacific Exchange Rate Service, both are the secondary, published source of data. 3.2 Sampling Technique The sampling technique that has been applicable is convenience sampling as it is easily accessible to collect the relevant information from the source and it is inexpensive and hence, gets a gross estimate of the results. (What is The Advantage of Convenience Sampling, 2007-2010). 3.3 Sample size The sample size is selected on the basis of limitations and scope of the research therefore, Last 54 years i.e., 1947 2010, data of inflation and exchange rate is decided to be examined. 3.4 Research Model developed From the above defined and explanations of both the dependent i.e. inflation and independent i.e. exchange rates variables and also discussing the effects of exchange rate on inflation and how it have affects on economic of a country. In this study first analysis is the correlation between these two variables, and identifies the significant relationship. Then it analyzes and evaluates the empirical investigation in regression model as a statistical tool. The simple regression model which can be defined in the equation that represented below: Inflation = ÃŽÂ ²Ãƒ Ã‚ ¾ + ÃŽÂ ²(exchange rate) + ÃŽÂ µ Whereas, ÃŽÂ ²Ãƒ Ã‚ ¾ = the intercept of the equation. ÃŽÂ ² (exchange rate) = the changing coefficient of exchange rate. ÃŽÂ µ = the error term of the equation. From the above explained model, the study develop the following estimation and used for the establishment of the model. Therefore, all the compatible data has entered in to SPSS for statistical analysis. 3.5 Statistical Technique The statistical test that has been applied is single linear regression. This is because only one independent variable and one dependent variable to be used in this research. Frankel (1979) defined that most of the recent work on floating exchange rate goes under the name of the monetary or asset view. The exchange rate is moving to equilibrate the international demand for assets, rather than the international demand for the flow of goods. But with the asset view there is Chicago Theory in which assumes that prices are perfectly flexible. As the consequences when nominal interest rate changes, it has also reflect the changes in expected inflation rate, so as the domestic currency expected to lose value through inflation and depreciation. This is the rise in the exchange rates and gets the positive relationship between positive exchange rate and inflation. CHAPTER 4: RESULTS 4.1 Findings and Interpretation of the result The simple linear regression technique is used to determine the explanation of dependent variable i.e. inflation due to independent variable i.e. exchange rate. The analysis of the result is defined below: Accepted The hypothesis of this study is that exchange rate explains the inflation, which is being accepted and exchange rate is explaining inflation by 17.3%. These findings support to recent theories that suggested the foreign exchange market efficiency with the existence of risk at equilibrium. Wihlborg (1982) examined the relation of interest rates, exchange rate and currency risks in this study. It identifies the test which empirically shows the impact of currency on interest rates and exchange rates. In this study there are three different ways in which the importance of currency risks for interest rate and exchange rate determination. The results presented here that substantiate the changes in the level of currency risk have a non-negligible impact on the changes of exchange rates and on rates of interest of relative between currencies. CHAPTER 5: CONCLUSION, DISCUSSIONS, IMPLICATIONS AND FUTURE RESEARCH 5.1 Conclusion This study is concluded to examine the dependency of exchange rate on inflation by using the data of consumer price index (CPI) as inflation and the data of exchange rate on yearly basis. The result of this study is highly significant so that the hypothesis of this study is not rejected. The result shows that 17.3% variation in inflation is due to the exchange rate in Pakistan. The analysis of this study also shows that if exchange rate becomes zero, the inflation exist to some extent. For example, if one unit of exchange rate increases, the inflation increases only by 0.693 times. 5.2 Discussions This study has applied exchange rate as independent variable and consumer price index (CPI) as dependent variable. For the availability of data, all the data should be available on daily monthly and yearly basis, but the data is used in order to consistent as yearly basis. The regression model has been formulated for these variable relationship investigations. The study developed the hypothesis that the exchange rate explains the inflation in Pakistan, and the findings are supported by the analysis done by Balassa (1964), Meese Rogoff (1983), Frankel (1979), and Mc Callum (1999) etc. 5.3 Implications and Future Research The result also accompanies that the exchange rates are the strength of character of foreign exchange market in Pakistan, and it should effect on each of the related variables as an inflationary basis. Therefore the State Bank of Pakistan and Government officials should realize the role of exchange rates in the economy and try to maintain exchange rates to stop or decrease the consumer price index in Pakistan, so that the price range of every thing should be in range of common men. Also government should address the issues that why exchange rates increasing, and why the consumer price increases due to foreign exchange volatility. If the Government takes effective actions against these issues so it can also facilitate the investors to gain confidence in the foreign exchange market and local currency value is strong from other foreign currencies. This has turned Pakistani currency to be stronger, and which has boost the economic growth. In this study, only exchange rate is taken to predict inflation in Pakistan. But in the country like Pakistan inflation is predict by the various variables like interest rate, money supply, foreign trade and so on. So in the future research other variables should be included.

Gunsmoke and the Old-West Lawman :: Television Media TV Essays

Gunsmoke and the Old-West Lawman The classic radio show "Gunsmoke," was the epitome of old west drama. Set in the frontier town of Dodge City during the 1870's and 80's, Gunsmoke followed U.S. Marshall Matt Dillon through his many adventures. Matt Dillon was the embodiment of the stereotypical lawman of the old west. He is set apart as an old west hero by his independence, self-reliance, and sense of justice. Matt Dillon works as an independent law-man. In our modern times we are used to policemen who work interdependently of a greater police force. In the old west however, the independent enforcer prevailed. As you listen to the episodes of Gunsmoke, you realize how much Dillon typifies the persona of a lone hero. With the only assistance coming from his deputy Chester, Dillon acts as the lone voice of law and reason. This independent attitude makes Dillon be self-reliant. When it comes to dealing with outlaws, he relies on his own intuition and expertise to solve the situation. In one instance, Dillon is trying to find an outlaw, but when he finds him he realizes that he has actually "gone straight." He finds this by talking to him and seeing his new character. Just like in this situation, being an independent law-man requires him to rely on his senses and abilities to take care of any situation that might arise. What really sets Dillon apart as a great old-west hero is his keen sense of justice. Even when his own life is on the line, Dillon never wavers from his responsibilities of justice. One day somebody comes into town looking to kill for the person who killed his father. It turns out that it was Dillon who killed him. Instead of trying to protect himself however, he does everything he can to simply talk to him and make him see the reason that his father died. Moreover, he correctly identifies the real criminal. Through his own investigative judgment, he deals with a situation that could otherwise prove to be dreadful and appalling. The typical lawman is personified in the character of Matt Dillon. The old-west lawman might not have necessarily been as respectable as Dillon, but the old-west stories have been mythologized to create this typical character. In essence, Dillon stands for the virtuous elements of the old-west, and carries them out in his daily life.

Confederation and Constitution Essays -- Governmental American History

Confederation and Constitution After the American Revolution, a new government had to be established. The Constitution that was written took power away from the people. It led to rebellions from poor people and farmers. Daniel Shays, a former Revolutionary Army captain, led a rebellion with farmers, against laws which were not fair to the poor. They protested against excessive taxes on property, polling taxes which obtained the poor from voting, unfair actions by the court of common requests, the high cost of lawsuits, and the lack of a stable currency. They wanted the government to issue paper money, since it is cheaper then gold and silver coins. Once retired George Washington heard of this, he immediately went to Massachusetts to stop it. He was completely shocked to see the people fighting against the country which fought to free those men. â€Å"What a triumph for the advocates of despotism to find that we are incapable of governing ourselves, and that systems founded on the basis of equal liberty are merely ideal and fallacious.† (George Washington Expresses Alarm 1786) He said this to the rebels who then stopped and the rebellion was crushed. After Shays rebellion collapsed, the government realized that they need a new constitution and to strengthen the Articles of Confederation. This was a long and hard decision on whether to give the people the right to voice their opinions or not. Mixed views on the subject were given so it was very difficult to come to a conclusion. Mr. Sherman of Connecticut â€Å"opposed the election by the people, insisting that it ought to be by the state legislatures. The people, he said, immediately should have as little to do as may be about the government. They want [lack] information and are constantly liable to be misled.† (The Debate on Representation in Congress 1787). Mr. Sherman is saying that people should not have anything to do with what the government has to do. They only get information wrong and can be misled and misdirected into something that can be bad for the country. Mr. Gerry of Massachusetts believes â€Å"the evils we experience flow from the excess of democracy.† While Mr. Mason of Virginia â€Å"argued strongly for an election of the larger branch by the people.† The representatives of these states viewed different ideas on democracy. Some wanted the people to have more of a say while others wanted to... ...ystem is without the security of a bill of rights. These are objections which are not local, but apply equally to all the states.† (Elbridge Gerry, Letter to President of Senate and Speaker of House of Representatives of Massachusetts, October 18, 1787). Gerry is saying that no government can represent the people, only the people can represent the people. It’s not only in Massachusetts that this problem of representation, it’s all thirteen states. During the time the Constitution was written, the Founding Fathers believed the government was based on property. â€Å"Men who have no property lack the necessary stake in an orderly society to make stable or reliable citizens† (The American Political Tradition). While John Adams said there could be â€Å"no free government without a democratical branch in the constitution† John Jay felt â€Å"The people who own the country ought to govern it.† This proves that there were many mixed feelings about the Constitution, but still, the power went â€Å"from the many to the few†. There are only a hand full of people that can run the country during the time the Constitution was written, and even today, but the ratio between politicians and â€Å"farmers† is great.

Quality Physical Education

Physical education schools play a critical role in increasing physical activity by offering quality, daily physical education and other opportunities to recreate. Physical education is the only program that provides students with opportunities to learn motor skills, develop fitness, and gain understanding about the importance of physical activity. Physical education teaches children the skills they need to be active through out their lifetime. Physical education can also enhance academic learning. Regular aerobic exercise produces an increased number of capillaries servicing the brain, which allows for a greater exchange of nutrients and waste products. Additionally, physical education incorporates concepts of math, reading/English language arts, and science into the physical education realm. Technology has integrated into the curriculum with heart rate monitors, pedometers, and computer-based fitness stations. Another way physical education helps academic learning by children receiving additional physical education show an acceleration of their psychomotor development, and this could provide a mechanism for accelerated learning of academic skills. â€Å"Other potential mechanisms include increased cerebral blood flow, greater arousal, changes in hormone levels, enhanced nutrient intake, changes in body build, and increased self esteem,† as mention in the Pediatric Exercise Science (Shepard, 1997, p. 113). In other words, exercise boost oxygen and glucose delivery to the brain, which can help, improve brain function. Physical Education plays a critical role in educating the whole student. Like other academic courses of study, physical education is upon rigorous national standards that define what students should know and be able to do because of participation. Physical education improves children’s relationships with children in their classroom. Children learn how to play as a team player. Physical education includes all children, which helps the children think of others not just themselves. In a quality physical education program, students can achieve physical and individual benefits. Teamwork is very important in everyday life. Most professions are team-oriented style of work. Managers value teamwork because it results in a more cost-effective and useful organization. Physical education is for every child regardless of physical ability, ethnicity, gender, language, race, or religion, the opportunities not only to succeed in physical education, but also to develop a lifelong commitment the health benefits of physical activity. Teachers are able to manage the student’s time more effectively. Physical education prepares students to live physically active, healthy lives through learning experiences at school. International Society of Sport Psychology state, â€Å"Exercise can have beneficial emotional effects across all ages and for both sexes† (p. 183). The major reason for having physical education in secondary schools is to lead the students toward better lifestyles and to be physically fit. There was an article published in 1992 by, The National Association for Sport and Physical Education (NASPE), stating what â€Å"The Physically Fit Person† should consist of. This article states five factors of a physical fit person. One factor is that a physically fit person â€Å"has learned skills necessary to perform a variety of physical activities. † The second factor â€Å"is the person physically fit. † The third factor is â€Å"does this person participates regularly in physical activity. † The fourth is a physically fit person â€Å"knows the implications of and the benefits from involvement in physical activity. † The last factor is that a physically fit person â€Å"values physical activity and its contributions to a healthful lifestyle. The plan as physical educators is to have each child be a physically fit person, by their exit of high school. Quality Physical Education means a planned program of instruction and activity for all students through the entire school year. Quality Physical Education programs are essential in helping students gain competence and confidence in a variety of movement forms such as: aquatics, dance, gymnastics, recreational and activities. It should provide a sound framework for the design and assessment that develop the students' motivation, fitness, cognitive, affective, and active lifestyle needs, and should focus on lifetime involvement. American Heart Association quote, â€Å"Today, about one of three American kids and teens are overweight or obese, nearly triple the rate in 1963 (American Heart Association Learn and Live – Healthier Kids) (2010). National Academics state, (2005), â€Å"If healthier students are, in fact, more attentive and academically successful students, then parents, principals, and policy makers alike may be supportive of obesity prevention efforts† (p. 6). â€Å"National Health Education Standards offer a coherent vision of what it means to be health literate. These Standards describe the knowledge and skills essential to the development of health literacy. That â€Å"knowledge† includes the most important and enduring ideas, issues, and concepts related to achieving good health. Those â€Å"skills† include the ways of communicating, reasoning, and investigating which characterize a health-literate person. National Standards are not a federal mandate nor do they define a national curriculum. The Standards are intended to serve as a framework for organizing health knowledge and skills into curricula at the state and local levels. † Here are the National Standards: Demonstrates competency in many movement forms and proficiency in a few movement forms. Applies movement concepts and principles to the learning and development of motor skills. Exhibits a physically active lifestyle. Achieves and maintains a health-enhancing level of physical fitness. Demonstrates responsible personal and social behavior in physical activity settings. Demonstrates understanding and respect for differences among people in physical Activity settings. Understands that physical activity provides opportunities for enjoyment, challenge, self- expression and social interaction. Student involve in physical education will develop: †¢ Teamwork- the ability and willingness to work within a group for the good of the group. (leadership, trustworthiness. ) †¢ Cooperation- the ability and willingness to follow group or team strategies. (followership) †¢ Communication skills- knowing when to speak and when to listen in order to help the group achieve its goals. †¢ An awareness and appreciation of personal and group safety. †¢ Honesty- playing within the rules for the good of the group and game. †¢ Courage- the willingness to try new things to expand one's horizons. Goal setting ability- the willingness to set appropriately challenging goals for oneself and the group. †¢ Perseverance- the ability and willingness to continue pressing towards the goal in the face of normal adversity. †¢ Creativity- the ability to come up with solutions to problems and physical challenges. †¢ An increased level of agility, coordination, and physical fitness. Physical education is the only program that provides students with opportunities to learn motor skills, develop fitness, and gain understanding about the importance of physical activity. It is the aspect of education that contributes to the total growth and development of the child mostly through selected movement and physical activities. It also enhances academic learning, helps meet the overall elementary school mission, treats students with dignity and respect, and applies instructional and Physical education helps develop the whole child, including the child's cognitive development, physical Development, social development and helps develop psychomotor skills. The ultimate goal of physical education will always be participation in health-enhancing physical activity for a lifetime. References http://wilderdom.com/games/PhysicalActivities.html https://www.nap.edu/read/11461/chapter/2#1 http://www.educationworld.com/standards/national/nph/pe/k_12.shtml

World Cities and Sustainable Development

World Cities and Sustainable Development Subject: Sub-divided units in Hong Kong ( 1487 words ) Hong Kong has been celebrated for its sky-high belongings monetary value which has been a concern to both the policy shapers and the populace in recent old ages. Apart from the unaffordable belongings monetary values, Hong Kong besides faces societal issues like the sub-divided units, accidents such as the 2011 Fa Yuen Street fire [ 1 ] and the prostration edifice at Ma Tau Wei Road [ 2 ] in 2010 have roused public consciousness towards the issue. In this essay, I will foremost explicate the relationship between lodging and sustainable development. Then I will present the jobs of sub-divided units in Hong Kong and its influence on residents’ quality of life. Finally, I will measure the key challenges faced by the Hong Kong Housing Authority in turn toing the lodging jobs. Sustainable lodging dramas an of import function in sustainable development. Harmonizing to theSustainable Housing Policyissued by the United Nations Human Settlements Program ( UN-Habitat ) in 2012, lodging is one of the basic standards to mensurate the quality of life of people, which besides connect to environmental, societal, cultural and economic facets in the community [ 3 ] . The construction of lodging creates a great influence on both the current and future coevalss due to the life-long lastingness of edifices. Housing besides requires a considerable sum of natural resources, such as H2O, electricity, land and edifice stuffs as input, where lodging produces sewerage, municipal solid waste and other sorts of pollution that create negative impact to the natural environment. Hence, sustainable lodging is the key to travel a measure frontward sustainable development. UN-Habitat defined sustainable lodging as ‘genuinely sustainable houses are those that are inclusive and low-cost for all†¦and yet affordability is non plenty, because the alleged low-cost place can non be considered sustainable if they create negative impacts on the environment or societal life.’ [ 4 ] Harmonizing to the US-based consultancy Demographia, Hong Kong ranks the first among 360 metropoliss for the ‘most unaffordable’ lodging for the 4th consecutive twelvemonth. Hong Kong’s one-year average family income is merely one-fifteenth of the average place monetary value, therefore being rated as ‘severely unaffordable’ . [ 5 ] In 2013 Policy Address [ 6 ] , lodging jobs ranked foremost in the government’s precedence, particularly aimed at helping the grassroots into public lodging and in-between category households to home ownership. [ 7 ] However, the job could non be solved nightlong, the increasing figure of sub-divided units suggested that the authorization failed to help the grassroots and in-between category households in run intoing their basic demands to alleviate the poorness job. After the Fa Yuen Street fire and the collapsed edifice incident at Ma Tau Wei Road, safety of sub-divided units has raised the public concern. Among all lodging jobs, the state of affairs of sub-divided units is critical. The life environment of these sub-divided units are by and large little in size, but are poplar because of their affordability. Harmonizing to a research conducted by the University of Hong Kong, about 63 % of sub-divided units occupants lived at units which country are less than 160 sq. pes, where the smallest unit is about 70 sq. pes. Respondents reviewed that they were discontented about their life environment, particularly in fire safety, air circulation and security. Over two-third of the respondents stated that there were jobs such as H2O escape, home base exposure, concrete spalling and mussy electric wires, which imposed psychological force per unit area to them as they were worried about the building’s construction of their units particularly after the incidents. [ 8 ] The study besides stated that occupants were worried about their security in the sub-divided units, approximately 44 % reviewed that stealing occurred in their unit, followed by robbery ( 33 % ) , drugs covering ( 29 % ) , incendiarism ( 25 % ) and sex discourtesies ( 22 % ) . In footings of societal life, merely 5 % of occupants were familiar with their neighbours and maintained a friendly relationship with each other, while 60 % of respondents were non familiar or did non acknowledge their neighbours. At the same clip, approximately 77 % of occupants did non fall in or affect in any community activities. [ 9 ] Over half of the sub-unit occupants reflected that their greatest want is to acquire a public lodging colony, one-third wished to better their life environment. Furthermore, the greatest concern of the occupants is the sanitation job of the life environment, followed by security and the safety of the building’s construction. In footings of psychological well-being, occupants reflected that they were worried about the lifting rent and frequently felt laden due to the narrow and bantam life status. These jobs of sub-divided units have been earnestly impacting the residents’ quality of life as they struggled hard to keep a life. [ 10 ] Furthermore, the bulk of occupants felt detached, unhappy and have low sense of properties to the society as they seldom communicate with each other and rarely involved in their community, which would impact their physiological well-being. In footings of life environment, they were discontent about the sanitation and safety jobs, and the bulk wished to travel into the public lodging every bit shortly as possible. There are three challenges faced by the Hong Kong Housing Authority in turn toing the job of sub-divided units. First, Hong Kong faces the job of limited land supply. Presently 23 % of land has been development, and 7 % is allocated for residential land usage. The deficit in land supply will further take to the lifting monetary value of belongings monetary values. [ 11 ] To turn to this job, renewal is frequently used since the 1970s. [ 12 ] In 2013, development curate Paul Chan Mo Po even suggested constructing estate by uncluttering an country in the state park [ 13 ] or construct places on the golf nine site, [ 14 ] these steps and suggestions faced strong expostulation in the society. Second, the authorities failed to command the belongings monetary values. Under the sky-high belongings monetary values, the authorities eventually attempted to interfere the market by presenting the dual cast responsibilities to relieve the state of affairs. [ 15 ] However, the program failed to command the belongings monetary values and the belongings monetary values in Hong Kong reached new highs in August 2014, entering the highest belongings monetary value in Hong Kong’s history. [ 16 ] Third, the job of ‘sub-divided units’ jobs involved the work of different governments and the division of duties is non clearly defined. Therefore, different sections may decline to take the duties. The job non merely related to edifice and fire safety, but besides other issues such as edifice direction job, urban reclamation job and lodging job. [ 17 ] Sustainable lodging should non be measured merely in footings of affordability, and should means more than a roof over one’s caput. A sustainable lodging system should be able to supply abode with: equal basic substructure, privateness, infinite, handiness, safety, security, dependability, sanitation and waste-management installations, suited environmental quality, accessible location to make basic installations and work topographic point, accessible and equity transit system, while all these standards should be brought with low-cost monetary value. [ 18 ] These factors are what Hong Kong presently lack and should be taking into history in doing lodging policies and determinations. Mention â€Å" 2011-12 Policy Address – Policy Address. †2011-12 Policy Address – Policy Address. 12 Oct. 2011. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.policyaddress.gov.hk/11-12/eng/p190.html & gt ; . â€Å" 2013 Policy Address by Chief Executive ( 3 ) . †2013 Policy Address by Chief Executive ( 3 ). Hong Kong Government Press Release. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.info.gov.hk/gia/general/201301/16/P201301160282.htm & gt ; . â€Å" State Park Carve-up the Worst of All Land Options. †South China Morning Post. 25 Sept. 2013. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.scmp.com/property/hong-kong-china/article/1311176/country-park-carve-worst-all-land-options & gt ; . â€Å" Easing of Double Stamp Duty Another Example of Leung ‘s Failed Housing Policy. †South China Morning Post. 16 May 2014. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.scmp.com/comment/insight-opinion/article/1512772/easing-double-stamp-duty-another-example-leungs-failed & gt ; . â€Å" Land Utilization in Hong Kong. †Land Utilization in Hong Kong. Planning Department, 16 July 2014. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.pland.gov.hk/pland_en/info_serv/statistic/landu.html & gt ; . Li, Yiu-wa. â€Å" Public Rental Housing for Young People. † ( 2012 ) .HKU Scholars Hub. Web. 12 Dec. 2014. & lt ; hypertext transfer protocol: //hdl.handle.net/10722/174578 & gt ; . Li, Yvonne. â€Å" Hong Kong Ranks World ‘s No 1 for ‘most Unaffordable ‘ Housing. †Property. South China Morning Post, 22 Jan. 2014. Web. 12 Dec. 2014. & lt ; hypertext transfer protocol: //www.scmp.com/property/hong-kong-china/article/1410730/hong-kong-ranks-worlds-no-1-most-unaffordable-housing? page=all & gt ; . Mok, Siu-fan. â€Å" Searching for Improvements: An Evaluation of the Effectiveness of the Public Rental Housing Policy in Hong Kong since 1998. †HKU Scholars Hub. Web. 12 Dec. 2014. & lt ; hypertext transfer protocol: //hdl.handle.net/10722/131428 & gt ; . Ngai, Edward. â€Å" Defying Gravity: Hong Kong Property Prices Reach New Highs. †The Wall Street Jorunal. China Real Time Report RSS, 8 Aug. 2014. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //blogs.wsj.com/chinarealtime/2014/08/08/defying-gravity-hong-kong-property-prices-reach-new-highs/ & gt ; . â€Å" Paul Chan Should Revive His Plan for Homes on Golf Club Site. †South China Morning Post. 13 Sept. 2013. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.scmp.com/comment/insight-opinion/article/1308854/paul-chan-should-revive-his-plan-homes-golf-club-site & gt ; . â€Å" Reclamation Is One Option. †South China Morning Post. 24 Apr. 2013. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.scmp.com/comment/letters/article/1221671/reclamation-one-option & gt ; . South China Morning Post. Police release more images of fire suspects. 5 December 2011. Print Sustainable Housing for Sustainable Cities. Nairobi, Kenya: United Nations Human Settlements Programme ( UN-Habitat ) , 2012. Print. Wong, Man-kin, James. â€Å" Domestic Sub-divided Unit of measurements in Urban Areas in Hong Kong: A Study of Policy Problems and Solutions. † ( 2012 ) .HKU Scholars Hub. Web. 12 Dec. 2014. & lt ; hypertext transfer protocol: //hdl.handle.net/10722/184387 & gt ; . Youth Hong Kong Editorial Team. â€Å" Housing Dilemmas – Give the Young a Future. †Education Post. 17 Jan. 2014. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.educationpost.com.hk/resources/youth/140117-housing-dilemmas- give-the-young-a-future & gt ; . Yuen, Ming, and Joy Lu. â€Å" HK Building Collapse Kills Three ; Two Missing. †HK Building Collapse Kills Three ; Two Missing. China Daily, 30 Jan. 2010. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.chinadaily.com.cn/china/2010-01/30/content_9401882.htm & gt ; . â€Å" ? ·Ã‚ ±? °?aY-a?ˆe?Sâ€Å"a?-a °?ec †c ©Ã‚ ¶ . † a? ¤eˆsa?Sa ±Ã¢â‚¬ ¹a?†¹a†¹Ã¢â€ž ¢a §Ã¢â‚¬ aâ€Å" e?„a?†¹c §?aâ€Å"a ®Ã¢â‚¬ ¡a ·?aa °?c µÃ¢â‚¬Å¾ . e ¦Ã¢â€ž ¢ a ¤Ã‚ §a ­?c §Ã‹â€ aeˆ?ac †c ©Ã‚ ¶a? ­aa?S ?†?c ­-aaa?ˆâ€ °eâ„ ¢?a†¦Ã‚ ¬a , 11 Mar. 2011. Web. 13 Dec. 2014. & lt ; hypertext transfer protocol: //www.cityu.edu.hk/hkhousing/r & A ; c/ssp_last.pdf & gt ; . 1