Consequences of Fraudulent Transactions and Managing the Risks - Free Essay Example

Sample details Pages: 9 Words: 2689 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Management teams, who are believed by shareholders to operate their assets and are trusted by other stakeholders to act as a custodian for their money, have been blamed being one of the financial criminals who destroy the world economic system, especially this is the main reason for the collapse of the Wall Street banking system in 2008 which continued to be the worst world financial crisis since the Great Depression (The Guardian, 2010). In September of 2008, Lehman Brothers, the fourth most famous mid-size Wall Street investment banker in the US known as the owner of credit card, American Express, went bankrupt according to Chapter 11 bankruptcy protection from the Federal Reserve Bank of New York. Don’t waste time! Our writers will create an original "Consequences of Fraudulent Transactions and Managing the Risks" essay for you Create order This caused Dow Jones stock exchange market to close down at just over 500 point, which has been accounted as the largest fall since 2001 and it was the direct reason of depreciation in the price of commercial estate in the US. Not only real estate business but the banking system also was affected by this situation. Merrill Lynch and AIG, who are the main creditor of Lehman Brother, subsequently were taken over by Bank of America since they lost their money from the poor. Moreover, this economic collapse in the US also demonstrated its impact to threaten financial system around the world which could be seen from decrease of stock price in major stock exchange market; such as Japan, UK and Canada (The Guardian, 2010). Many people believe that financial manipulation by management is the direct cause of world economic depression. However, it could be argued that some financial corruption lead to improve accounting and financial regulation including to give more attention for corporate governance and social responsibilities of management. This project will mainly demonstrate how management financial manipulation could be beneficial. Firstly, the definition of financial manipulation including kinds and its characteristic will be explained. Then it will address the current economic problems which resulted from management intention. In the final part, this article will illustrate the advantages which arise from financial frauds by management. Definition of Management Financial Manipulation The significant function that financial statement plays is to present the companys performance by performing an analysis of figures such as net income (the bottom line) and other intermediate levels of measurement of earnings such as percentage of gross margin or earning per share. It is therefore influence for managements and companies to maintain their financial report to consist with their expectation at the end of each period (Stolowy and Lebas, 2006). According to important role of financial statement being a main appearance to reflect a companys performance, the management, whose incentive is normally dependent on such figures, has intended to threaten or control the result from their operation which present in the financial statement by using the weaknesses of accounting and financial standard. This dishonest behavior seems to be defined as financial management manipulation. The financial statement has been comprised of three main components which are accounting methods, accounting estimates and classification of extraordinary items. Through these factors, management could encompass such figures to present in the way that they want. According to Copelands statement, it mentioned that manipulation is an ability to increase or decrease reported net income at will (quoted in Stolowy and Lebas, 2006: 580). From this quotation, it could be seen that the method of manipulation might be executed by three patterns which are to maximise income, to minimise income or to maintain income. However, some experts claim that accounts manipulation seems to have more comprehensive features than the meaning that was given by Copeland in 1968. By Barnea and Ronen, since 1975-1976, income statement classification has been included as meaning of the accounts manipulation (Barnea, 1975-76 and Ronen and Saden, 1975) and in 1998, presentation of balance sheet subsequently has be en demonstrated as a method of the manipulation by management (Black, 1998). And lastly, a selection of preferred accounting treatment has been represented as the latest tool for accounting artifice as well. These methods illustrate that there are various approaches initiated by management in order to arrange their financial results to coincide with investors expectation, which mostly are extreme earnings or efficient financial ratio (Stolowy and Lebas, 2006). Although there are varieties of accounting manipulation, it could be categorised into four main methods. Firstly, a term of practices which the firms officers artificially manage earnings to achieve or meet some pre-established level of expected earnings might be defined as earnings management (Stolowy and Lebas, 2006: 580). Next theory is income smoothing (Stolowy and Lebas, 2006: 580). This refers to a scheme which tends to generate a stable growth of income or profit to consist with prior period by postponing the recognition of income or cost to future. This form can be, for instance, the reversal of provisions, kinds of estimated expenses, or the selection of revenue recognition points which could be obviously beneficial to maintain certain profit through a long-term contract without consideration whether it is fair presentation (Stolowy and Lebas, 2006). Thirdly, big bath accounting is a procedure that new management regularly use to clear up all pending or outstanding balance which could not be explained or find any supporting idea. This term was initially explained by Moore (1973) as: New management has a tendency to be very pessimistic about the value of certain assets or about the future profitability of current engaged contracts. They, then, often adjust downward, more than necessary, the value of these questionable assets or underestimate the profitability of ongoing contracts by taking the losses now and keeping the possibility of profit as a possible happy surprise if it ever happens. This type of behavior is colloquially know as taking a bath (quoted in Stolowy and Lebas, 2006: 580). Lastly, due to arguments or confusions on some accounting standards, this gap leads managements to use improper standard intentionally to present their result in the way that they expect to see which this term might be defined as creative accounting. The main purpose of this behave is to misguide shareholders or investors through such invented presentations. The forms of creative account which mostly perform, for example, are change in accounting policy during fiscal period without reasonable reason or misclassification of balance sheet and income statement (Stolowy and Lebas, 2006). According to possibility of performing these manipulations by management, this could be essential factors misleading stakeholders such as investors, bankers or, even though, government to be assured that the company is stable and has capabilities to generate the advance performance. A consequence of this misunderstanding is stakeholders might not protect themselves and be persuaded to continually invest or spend their funds for such company and then when the company collapses, its affect would be dramatically pervaded to its creditors, investor and every parts of economic system and finally enlarges itself rapidly to be the world economic crisis. Situation of World Economic Crisis in 2008 In the 1990s, according to the US government, they launched policy to pressure investment bank to acquire more loans which were borrowed by person considered as risky person, having low credit rate and potential uncollectable which this kind of people, generally, could be defined as sub-prime by bankers. The aim of this policy was to increase home ownership rate in the US. Such policy, eventually, provided effective result to increase home ownership rate from 66% to 70% (Holmes, 1999). According to its effectiveness, such policy has been embraced by the US governments for a decade that lead to increase in home ownership rate and, also, low income borrowers. Owing to (AR) rapid rise in unqualified borrowers, this caused many banks fell into liquidated problem but such problem could not be noticed to society for retreat because it was hidden by outstanding performance rate which was called as debt rating, assessed by famous debt rating companies such as Moodys and Standard Poors. It m ight be believed that this issue could be kept in secret since the investment banks, which faced with a large number of doubtful debts, intended to manipulate their financial statement, both balance sheets and income statements, to present distinguished financial ratio, especially debt ratio. A good illustration of this point is Lehman Brother, a famous medium size investment banker in Wall Street, used the weakness of accounting standard to improve their cash flow and present an acceptable proportion between liabilities and assets, debt ratio. However, Lehman could not, no longer, avoid such problem and finally bankrupted in 2008. In addition, another reason that kept the secret was the influence of investment, as significant customers, over the rating agencies (Wikinvest, 2010). As the result, the problem was accumulated increasingly until exposure in 2008. The crisis was started from collapse of Bear Stearns Companies Inc, one of leading investment bank in the US, in March 2008. It was taken over by JP Morgan, under an authorisation from the Federal Reserve Bank of New York. This is a result of sharp declining in value of mortgage securities, especially subprime lending which caused its net profit suddenly fell by almost tenfold from 2006 to stood at 233 million dollars at the end of 2007 and then, eventually, merged itself with JP Morgan Following by Lehman Brothers, whose income declined from 2007 by over 50%, was collapsed by the same reason with Bear Stearns in September 2008. This crisis in the subprime market could be illustrated as the meltdown of the US bank system. For instance, such crisis impacted to increase risk premium on interbank borrowing to 5% while normally it was just 0%-1%. A consequence of high interest rate, other businesses, such as manufacturing and trading companies, could not be financed money from banks in order to expand its production capacity and then collapsing in the US trade business was occurred inevitably (Wikinvest, 2010). Not only in the US but this crisis also affected to global economic system. Many people believed that this was the largest and sharpest drop in global economic activity of the modern era. For example, it obviously caused to decrease in demand both by business and household. As households spent less so imports then fell, and hence someone elses exports fell as well. (McKibbin and Stoeckel, 2009: 4). This situation might be demonstrated that manipulations by some management teams could be regarded as potential factor misleading stakeholders to decide incorrectly. As the result of this misunderstanding, it could impact across the countries and expand itself to be the global problem rapidly. In the next section, the influence of management manipulation in the US over the world economic system will be examined. How does management financial manipulation in the US impact on the world economy As a result of recent meltdown in the US economy, it primary impacted to the US bank system declining in loan issuance which it might be noticed from figure 1. According to the line graph, it could be seen that after reaching a peak at US 700 billion for new lending in second quarter of 2007, the volume of loan issuance decrease significantly throughout of the following year to stand at US 150 billion in third quarter of 2008 which accounted for almost fivefold reduction comparing with prior period. This is because of extreme concern about borrower qualification, after the great recession, by the financial institute (Lvashina et.al, 2008). This decrease could have substantial effect on other businesses, especially exporting and financial investment in developing countries by being decelerated its growth rate. Not only business, this crisis also affected to labor suffering from earning deduction (Lin, 2008). According to fundamental cause of economic failure, Rajun, Seru and Vig (2008) draw attention to focus on misleading of credit rating. It is believed that some rating agencies provided poor credit rating to public due to they applied only mathematical model and historical data to assess the value of debts owned by banks, without consideration of possible factor or current situation. This might be a main reason causing investors to misunderstand and made an incorrect decision and finally lead them into trouble when such debts had no ability of repayment. This view contrasts with Murphy (2008) which it contends that the direct cause of economic collapse in the US is management financial manipulation, especially approval for mortgage without obtaining adequate supported documents by management and lobbying the regulator being lenient by some bank investments (Murphy,2008). Similarly, the view is provided by Clark (2010), it claims that the using of accounting deception is a root of this crisis. A good illustration for this point is the artificial accounting by management team of Lehman Brothers who used the imperfection of accounting principle in order to create an increase of balance sheet by US 50 billion presenting the outstanding result of its operation at the end of period. Nevertheless, Lehman Brother finally bankrupted and its management was examined by the US court as a financial criminal causing the collapse of the US bank system in 2008 (The Guardian, 2010). This could be suggested that management manipulating the financial result plays as significant role affecting to occur the world economic recession. However, it could be alternatively argued that management financial manipulation might be one of the best ways to improve a corporate governance and financial regulation also. This positive point will be discussed in the next section of this article. How can management financial manipulation improve corporate governance Many economists believe that there are only negative aspects associated with falsification of accounting records by management which Lehman Brothers and Bear Stearns, who were claimed by the US examiner as financial criminal, could be represented as a classic example of financial manipulation leading to increase problems in the world economic system. Contrastingly, it might be argued that colorable accounting results by management could improve corporate governance, management ethics and financial regulations as well. This section will mainly demonstrate that how can accounting artifice promote corporate governance. After facing with many financial scandals by management which lead the world economic system to collapse recently, stakeholders have begun to suspect that whether the financial statements have adequate fair presentation and request their regulators to take responsibility solving this issue. As a result, governments and regulators have announced more restricted laws of accounting in order to mitigate the occurrence of such behaviors by management and try to improve corporate governance, which may be defined as the process including monitor, assessment and organise to ensure that the company has perform to support in the interests of shareholders and stakeholders (Sherer and Turley, 1997:70). A case in this point is the Sarbanes-Oxley Act in the US which was introduced after bankruptcy of Enron, who was a well-known natural gas company in the US and its management has been convicted regarding to fraud charge (Brickey,2003), in 2001 in order to regulate accounting standard to be more us eful: After the fairly recent series of spectacular bankruptcies or scandals, including EnronÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦Governments and regulators around the world have promulgated appropriate legislation or regulations to prevent occurrence of such scandalsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦One well-known and exemplary such piece of legislation in the Sarbanes-Oxley Act in the United States. It is a complex piece of legislation but contains three key provisions that are directly relevant to the usefulness of reported account (Stolowy and Lebas, 2006). The Sarbanes-Oxley Act demonstrates as the important example of advantage developed by financial manipulation which attempts to resist fraudulent transaction and monitor corporate governance leading to improve assurance of investors against the financial statements. Although, its capability may not be sufficient to detect all financial artifices due to complexity of current businesses but it could be argued that this amendment represents an admirable beginner supporting the further development. Conclusion In conclusion, it might be believed that the world economic crisis is mainly attributed by management financial manipulation; however, such intentional misstatement might be contributed some advantages to the society, especially upgrading the quality of corporate governance. It is worth recalling that many constructive affords have been introduced in order to prevent such mistake since economic crisis in 2008; nonetheless, such solutions would not be beneficial, if management did not pay attention and recognise to perform for their businesses and it, moreover, could be predicted that the crisis may happen again as a result of ignorance by management. This challenges people in the society to take responsibilities monitoring management behavior in order to protect their economic system from such failure.

Effects Of The Great Depression On Society - 1500 Words

American may remember horror stories of the effect the Great Depression had on society. Although devastating it was not the first time workers had the task to endure the financial difficulties of an impending recession. The Panic of 1792, where two situations occurred almost simultaneously which produced the first financial crisis. This was the first time which Americans experienced a bank run when US securities and bank stock prices started to increase. During the Revolutionary war I, the US Government assumed the financial obligations of two states being South Carolina and Massachusetts, which incurred a debt of $65 million owned, due to the war. Amidst bankruptcies, default mortgage loans and a decline in lendable money, the economy was at a staggering halt. William Duer and Alexander Macomb used inside information from the treasury; which Duer was previously employed, hoping that the stock value would increase. 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Feminist Perspective Essay Free Essays

Feminist Perspective in â€Å"The Awakening† In The Awakening, Chopin describes how the perfect man or woman should look according to society. The Awakening was published in 1899 which â€Å"aroused a storm of controversy for its then unprecedented treatment of female independence and sexuality, and for its unromantic portrayal of marriage. † (Chopin, 1899, Note) Women were expected to be obedient housewives and a doting mother to their children. We will write a custom essay sample on Feminist Perspective Essay or any similar topic only for you Order Now The statement; â€Å"If it was not a women’s place to look after children, who’s on earth was it? (Chopin, 1899, chap 3) denotes what the woman’s responsibilities are in a marriage. Chopin uses the characters: Edna, Leonce, Madame Ratignolle and Robert Lebrun to show how marriage, independence, equal rights and freedom are portrayed in the novel, The Awakening. Leonce Pontellier was a forty year old, slender, medium built man with straight brown hair parted to one side. When Chopin describes, â€Å"since it seemed to be the law of society that hair must be parted and brushed† (Chopin, 1899, chap 4) it shows how society expects a man’s appearance to be. Leonce was away on business often and would send a box full of fruits, bon bons, and delicious syrups in abundance. Mr. Pontellier was often away from home on business trips. To make up for the time spent away from home he would send these luscious treats. The women were envious of how much Mr. Pontellier cared for Edna. Chopin best describes how other women see Mr. and Mrs. Pontellier’s relationship when she states; â€Å"selecting with dainty and discriminating fingers and a little greedily, all declared that Mr. Pontellier was the best husband in the world† (Chopin, 1899, chap 3) while sharing the tasty treats sent. Mr. Pontellier was a very materialistic man and even when he looked at his wife after being in the sun states â€Å"you are burnt beyond recognition, he added, looking at his wife as one looks at a valuable piece of property which has suffered some damage. † (Chopin, 1899, chap 1) shows how men view their wife in that era. Men liked their woman to be flawless and devoted to their family. In today’s society that would be considered a â€Å"trophy wife†. Leonce is great at providing for his family, but disregards his wife’s feelings. One example of how Mr. Pontellier is inconsiderate of his wife’s feelings is when she asked him if he would be coming home for dinner and his response was; â€Å"he halted a moment and shrugged his shoulders. / He did not know; perhaps he would return for the early dinner and perhaps he would not. † (Chopin, 1899, chap 1) However, when Edna â€Å"abandoned her Tuesdays at home, and did not return the visits of those who called upon her. † (Chopin, 1899, chap 14) and begins painting, he views her as mentally unbalanced, which he seeks advice from a doctor. â€Å"Mr. Pontellier had been rather courteous husband so long as he met certain tactic submissiveness in his wife. † (Chopin, 1899, chap 14) In other words as long as Edna does what is expected of society he would be happy. In the late 1800’s the man’s job was to provide for the family and the woman’s job was to care for the house and children. Mr. Pontellier was your typical man of that era. Edna Pontellier was a young woman of twenty eight, who’s â€Å"eyes were quick and bright; they were yellowish brown, about the color of her hair. / She was rather handsome than beautiful. (Chopin, 1899, chap 2) In the story, The Awakening Chopin describes Edna as â€Å"an American woman with a small infusion of French† (Chopin, 1899, chap 2), however it was â€Å"lost in dilution. † (Chopin, 1899, chap 2) Edna was in an unhappy marriage with Leonce and throughout the story begins to find her inner self at the Grand Isle. Chopin uses different symbols thro ughout the story to help us understand Edna’s state of mind. Edna did not fit in with the rest of the Creole women. Chopin describes Edna as â€Å"not a mother-woman† (Chopin, 1899, chap 4) indicating that she is not a dedicated mother like the other Creole women. Mrs. Pontellier, though she had married a creole, was not thoroughly home in society of the Creoles. † (Chopin, 1899, chap 4) The Creole women were known for; â€Å"fluttering about with extended, protecting wings when any harm, real or imaginary, threatened their precious brood. † (Chopin, 1899, chap 4) Edna has a quadroon nurse, whom looks after the children who â€Å"was looked upon as a huge encumbrance† (Chopin, 1899, chap 4) leaving one to believe that because of the time period that the quadroon nurse is black. In this era women were dedicated to their children and husband, however Edna defies the norms of society when she doesn’t obey these rules. Edna is fascinated by the beauty and mothering portrayed by Madame Ratignolle and forms a bond with her in the summer at Grand Isle. â€Å"Madame Ratignolle was very fond of Mrs. Pontellier and often she took her sewing and went over to sit with her in the afternoons. † (Chopin, 1899, chap 4) â€Å"Mrs. Pontellier liked to sit and gaze at her fair companion as she might look upon a faultless Madonna. (Chopin, 1899, chap 5) Madame Ratignolle was the perfect Creole woman and Edna looked to her for guidance. Madame Ratignolle is an example of an acceptable woman in this time period. However Edna realizes she is not like the other Creole women and searches within herself for independence. As a woman in the late 1800’s early 1900’s life had many challenges, especially for those who seek independence. It was unlikely for a woman to neither voice her opinions if she were unhappy in a marriage nor choose who to marry. In The Awakening, Edna’s father pushed her into marriage with Leonce. She describes her marriage as â€Å"purely an accident† (Chopin, 1899, chap 7) and with â€Å"the violent opposition of her father and her sister Margaret to her marriage with a Catholic, and we need seek no further for the motives which led her to accept Monsier Pontellier for her husband. † (Chopin, 1899, chap 7) In this era women had very little equal rights and were unable to stand their grounds on their beliefs in fear of rejection from society. In the summer at Grand Isle Edna begins to develop a negative attitude towards marriage. During the summer at Grand Isle, Edna learns how to swim, which begins her â€Å"awakening†. Edna views the sea as calming and way to escape from reality. Even when Edna isn’t at the beach she thinks about the sounds of the waves to comfort her. As Edna looks at the sea she thinks about the â€Å"motionless sails against the blue sky, made a delicious picture I just wanted to sit and look at. / The hot wind beating in my face made me think – without any connection that I can trace — of a summer day in Kentucky, of a meadow that seemed as big as the ocean to the very little girl walking through the grass, which was higher than her waist. (Chopin, 1899, chap 7) The sea reminds Edna of being a little girl without having to carry the heavy load of society. She felt freedom through the waves as they hit the shore. After Edna goes for her first swim, she is overjoyed and yells: â€Å"Think of the time I have lost splashing like a baby! † (Chopin, 1899, chap 5) This was the beginning of the end for her. This night is the first night that Edna stands up to her husband when he asks her to come in for the night while she was resting on the hammock. Edna replies; â€Å"No; I’m going to stay out here. † (Chopin, 1899, chap 6) Mr. Pontellier wasn’t used to Edna not doing what is asked. Edna hears Leonce moving about the room; every sound indicating impatience and irritation. † (Chopin, 1899, chap 6), which signifies Leonce is frustrated that Edna wasn’t submissive as usual. Edna had spent some time with her father which stirred up the feelings as to why she didn’t want to attend her sister’s wedding. Following the advice given to Mr. Pontellier by the Dr. Mandelet’s declined to intervene in her decision. As her father left Mr. Pontellier was not far behind and began talking to her father about Edna’s behavior. Edna’s father told him â€Å"You are too lenient, too lenient by far, Leonce† (Chopin, 1899 chap 29) â€Å"Authority, coercion are what is needed. / Put your foot down good and hard; the only way to manage a wife. / Take my word for it. † (Chopin, 1899, chap 29)This statement shows how men view women with little respect and freedom. It had to of taken a lot for Edna to stand up to her father and tell him no, when he was such an authority to her in life. Edna’s newfound freedom has found her venturing out and doing things she enjoys. She goes to a horse race with Mrs. Highcamp at Arobin’s drag. This is where she meets a man named Alcee Arobin. She begins to spend a lot of time with sharing her interest of horse racing. Through their constant visits Alcee begins experiencing feelings for Edna. Alcee kisses her hand as he leaves her house in the evening. After he is gone she looks â€Å"mechanically at the back of her hand which he had kissed so warmly. † (Chopin, 1899, chap 25) As Edna looked at her hand â€Å"she felt somewhat like a woman who in the moment of passion is betrayed into an act of infedility, and realizes the significance of the act without being wholly awaken from its glamour. (Chopin, 1899, chap 25) When Edna is thinking this she is not referring to her husband, but of Robert whom she fell in love with at the Grand Isle. During this time period divorce wasn’t a choice. Edna continues to fall into the arms of Alcee as they spend time together. Chopin describes the relationship developing into more than just a friendship; however Edna love and s exual desires for Robert are being portrayed with Alcee. Affairs were a forbidden and inexcusable act in the eyes of society. After this night Edna cried which â€Å"was only a phase of the multitudinous emotions which assailed her. / There was with her an overwhelming feeling of irresponsibility. † (Chopin, 1899, chap 28) This signifies that she is feeling remorseful for her doings; however her feelings for Robert are still strong. She then makes a big step and moves out into the pigeon house around the corner. Edna moves out of her home to the pigeon house and begins to support herself through her paintings. This was absurb of a woman moving out of her home away from her husband. When Mr. Pontellier learned of his wife’s intention to abandoned her home and take her residence elsewhere, he immediately wrote a letter of unqualified disapproval and remonstrance. † (Chopin, 1899, chap32) He was worried about â€Å"what people would say. † (Chopin, 1899, chap 32), so he put their house under construction to hide the fact that Edna moved out. For the time being Leonce remains away on business while Edna is living in the pigeon house. â€Å"No longer was she content to â€Å"feed upon opinion† when her own soul had invited her. (Chopin, 1899, chap32) Edna feels independent and full of life. During this time Robert returns from Mexico and Edna reveals her love to him, â€Å"I love you†, she whispered, â€Å"only you; no one but you. / It was you that awoke me last summer out of a life-long stupid dream. † (Chopin, 1899, chap 37) She defies the rules of society by loving one other than her husband, whom she was supposed to love and adore forever. However after revealing her love to Robert she leaves the house to attend to her friend who has become ill and asks him to wait for her to return. When Edna returned home there was a note left from Robert stating; â€Å"I love you. Good-by – because I love you. † (Chopin, 1899, chap 33) Robert did what was the right thing to do in society by leaving because they both would have been shunned for their affair. After reading the letter it appeared as though Edna went into shock. Chopin describes her as she â€Å"grew faint when she read the words. † (Chopin, 1899, chap 33) The next day she decides to go for a little swim and as she was walking she said to herself over and over again, â€Å"To—day it is Arobin; to—morrow it will be someone else. (Chopin, 1899, chap 34) and was also thinking about words shared with Adele Ratignolle, â€Å"she would give up the unessential, but she would not sacrifice herself for her children. † (Chopin, 1899, chap 34) She wasn’t going to sacrifice her life any longer for anybody. Edna interprets the sea as being, â€Å"seductive, never ceasing, whis pering, clamoring, murmuring, inviting the soul to wander in abysses of solitude. † (Chopin, 1899, chap 34) As she continues to walk along the beach doesn’t find anything living except for a â€Å"bird with a broken wing was beating the air above, reeling, fluttering, circling disabled down, down to the water. (Chopin, 1899, chap 34) The bird symbolizes Edna, broken. She strips away her clothing and walks into the cold ocean naked like a new-born creature, never looking back. In conclusion, it is clear throughout the novel society portrays how men and women should look. The men with their perfect hair and the women doing as they should when directed by their husband are the perfect people in that era. However Edna goes against all the rules of society when she begins going against all of her husband’s wishes and gains confidence along with independence. Society was not ready to face the strength of a woman yet. Therefore, Edna felt very alone in the world with nowhere to turn. She took her life in the very place she discovered her soul because it was the only place she truly felt alive and free. Reference Chopin, K. , (2005), The Awakening, (1899), published by Hayes Barton Press, a division of Vital Source Technologies, Inc. , Retrieved from digital library, September 16, 2011 http://digitalbookshelf. southuniversity. edu/#/books/L-999-70979/pages/17443484 How to cite Feminist Perspective Essay, Essays

MAchiavelli Persuasive Essay Example For Students

MAchiavelli Persuasive Essay John McLaughlinApril 8, 2002ENGL 110Government Response PaperUtopian or Reality?Throughout history, it can be argued that at the core of the majority of successful societies has stood an effective allocation of leadership. Accordingly, in their respective works The Tao-te Ching and The Prince, Lao-Tzu and Machiavelli have sought to reach a more complete understanding of this relationship. The theme of political leaders and their intricate relationship with society indeed manifests itself within both texts, however, both Lao-Tzu and Machiavelli approach this issue from almost entirely opposite positions. Lao-Tzu appears to focus the majority of his attention on letting problems or situations take their course and allowing good to prevail. On the contrary, Machiavelli advocates the necessity for a successful leader, or prince, to take control of his endeavors, and the skills or qualities necessary to maintain power, at any cost. Since these thinkers both make an inquiry to what is esse ntially the same dilemma of effective leadership, it becomes almost a natural progression to juxtapose the two in an effort to better understand what qualities a prosperous leader must possess. In this sense, when we utilize the rhetorical strategy of compare/contrast as a vehicle to transport us to a more enlightened interpretation of Lao-Tzu and Machiavellis conclusions, it becomes apparent that Machiavellis effort is much more successful as his practicality serves its purpose much more effectively. Although they share some similarities in ideology, these parallels are greatly overshadowed by the concepts in which Lao-Tzu and Machiavelli diverge. Their primary distinction lies within their view of human nature and its role in governing. Lao-Tzu maintains that if we promote a system of governing to the least possible extent, then human nature should manifest a favorable temperance and dictate the direction of society. In fact, Lao-Tzu asserts numerous attempts to illustrate his point that if leaders, Stop Trying to control ( 57, 35), then there is no desire ( 37, 24), he dwells in reality ( 38, 29), and the world will govern itself. ( 57, 35) Although this is an extremely optimistic and beneficial ideal, the main problem with Lao-Tzus entire philosophy is exactly that, it can only be viewed as a philosophy. Because it appears under the section entitled Government, I feel as though I am disposed to analyze it as a possible effective form of governing. I believe Lao-Tzus glaring we akness is that he drastically underestimates the potential problems of human nature, especially in the sense that he places us in what is essentially a society void of any possible laws or regulations. Perhaps in his time Lao-Tzu viewed that his interpretation of human nature was entirely possible, but as far as the twenty-first century is involved, the idea that if societies are left unattended we are able to Trust them ( 75, 59) is absurd. It can be argued legitimately that Lao-Tzus concepts have been applied and in fact have proven to be extremely effective. For example, a capitalistic, laissez-faire approach to governing, particularly the form advocated by American Republicans. However, cases of removing regulations and adopting the leadership standards Lao-Tzu advises have been strictly applied to market economics, not to each and every facet of government. Refraining from absolute negativity about Lao-Tzus work, the Tao does have many redeemable qualities. The emphasis Lao-Tzu places on the attainment of individual happiness is extremely honorable, however this doesnt detract from the ineffectiveness Lao-Tzu encounters, as he is unable to come to well-grounded conclusion on the means for effective leadership. His advice to politicians is to only interfere when it is an absolute necessity; yet he takes this to a radical extreme advising leaders to pretty much do nothing. His ideas are taken to an extent where if human nature falters, which it has proven to do time and time again, then his approach advises to let things go their own way. ( 29, 16) It seems that in some cases third party intervention becomes a necessity, a side of the story that Lao-Tzu conveniently fails to mention. Free Euthanasia - Minorities, the Poor and A EssayAs he begins to conclude, Machiavelli states that the prince: should think about avoiding those things which make him hated and despised. (Mach 48) Although these lack any withstanding moral values, they are effective in the sense that they better serve their purpose. Machiavelli was seeking to display a way to hold political power by any means possible not a utopian state. This may mean malicious acts, imprisonment, and torture, or it may mean the utilization of power to achieve a common good. Machiavelli doesnt elaborate on this. He concentrates on a realistic approach towards government, as he remains concerned with the establishment and protection of power. In conclusion,