The Importance of Thrasymachus in Plato’s Republic Essay

The Importance of Thrasymachus in Plato’s Republic Dr. Malters’s comments: This student does two things quite remarkable for an undergraduate student. In his compact essay, not only does he display an in-depth understanding of complex perspectives on justice put forth by the protagonist Socrates, he deftly explains how Plato has artfully made rude objections by a seemingly minor character early in the dialogue function as a structuring device for nearly all the important ideas examined thereafter. In Platos Republic, the character Thrasymachus provides an intense yet short-lived appearance in the discussion of justice early in the story. Though he seems to almost completely withdraw from the discussion for the†¦show more content†¦Though defeated on this point, hes not yet satisfied with Socrates argument, and sticks by one of his previously stated views which held that injustice is more profitable than justice. However, he shrinks back and seems no longer able to speak for himself after Socrates refuted his argument on justice. Despite his withdrawal from the argument throughout the rest of the Republic, his early ideas help lead Socrates farther on his search for justice through the construction of a hypothetical just city. In describing the education of the guardians of this city, Socrates discusses the need for a balance between gymnastics and poetry. He relates how too much gymnastics lead the spirited part of someone to be overtightened and hard. Hell be m useless and hate discussion explains Socrates. This hardness and hate for discussion reminds us of the actions of Thrasymachus at the beginning of the argument defining justice. Thrasymachus becomes an example of a badly tuned soul that Socrates goes on to describe. On examining Thrasymachus idea that it pays to be perfectly unjust, Socrates refutes this argument in Book 4 as he speaks of the souls three parts; wisdom, spirit, and desire. The civil war between these three parts is shown to be the cause of injustice, but before Socrates can correlate this with the regimes of certainShow MoreRelatedEssay on Thrasymachus’ Views on Justice939 Words   |  4 PagesThe position Thrasymachus takes on the definition of justice, as well as its importance in society, is one far differing from the opinions of the other interlocutors in the first book of Plato’s Republic. Embracing his role as a Sophist in Athenian society, Thrasymachus sets out to aggressively dispute Socratesâ €™ opinion that justice is a beneficial and valuable aspect of life and the ideal society. Throughout the course of the dialogue, Thrasymachus formulates three major assertions regarding justiceRead MoreJustice And Injustice Of Plato s The Republic1502 Words   |  7 PagesShort Essay: Justice and Injustice in Plato’s The Republic In Plato’s The Republic, Socrates expresses his belief that in order for a state and its people to be functioning at their best, every citizen ought to do what they have the most character for, or what they are most qualified to do. Whether it is craftsmanship, guarding the city, playing music, or healing the sick, Socrates thinks that everyone should make his or her living doing one thing that they are skilled at, and one thing only. InRead MoreThe Philosophy Of Plato s Republic973 Words   |  4 Pagesprominent philosophers who studied under the philosopher, Socrates. He is well known for his book, Republic, which presents different philosophical concepts including the concept of justice and how it is always in the individual’s best interest to be just. In this book we meet Thrasymachus, a Sophist, who has an opposing view on the value of justice. Plato’s notion of justice conflicts with that of Thrasymachus and possible consequences of morality are contentmen t and trust. Justice, during the time ofRead MoreWho Were The Pythagoreans? How Did They Try Solve The Dilemma Of Anaximander?1131 Words   |  5 PagesSocrates that are important to me is that Socrates was charged, tried, and executed for supposed corruption of the youth and the fact that he was self-aware of his own ignorance, and in the same instance, played positive roles. He focused more on the importance on the human soul than the human body and urged his people to focus on their souls instead of material possessions. 11. In a paragraph describe one or two interesting points from the philosophies of Mergarians, Cynics, and Cyrenaics, respectivelyRead MoreEducation: Keeping the Republic Together Essay654 Words   |  3 PagesEducation: Keeping the Republic Together Our world today puts huge amounts of emphasis on education, specifically in order to get a better job, make more money or take enjoyment in what we do. We see a similar importance placed on education in Socrates’ make believe city, as described in Plato’s Republic. However, Socrates has made it clear that this education is not for personal betterment or gain, but rather for the common good. Socrates has created his Republic with education of its citizensRead MoreThe Republic And The Socratic Dialogue1769 Words   |  8 Pages When analyzing Book 1 of the Republic and the Socratic dialogue Euthyphro we can conclude that there are a lot similarities and differences in the arguments between Socrates and Thrasymachus and Socrates and Euthyphro. Both pieces and arguments have similar tones and shows how Plato, through Socrates, would get to the bottom of certain issues. Upon entering the house In Plato’s The Republic, Socrates didn’t know what he was walking into when the discussion of justice was brought up. The mainRead MorePlato, in the â€Å"Republic â€Å", ambitiously sets out to prove that art imitates reality by distracting900 Words   |  4 PagesPlato, in the â€Å"Republic â€Å", ambitiously sets out to prove that art imitates reality by distracting us from the truth and appeals to socially destructive emotions. He continued his statement by referring that art provides no real knowledge, and that it undermines personal and social well being. In this paper, I will argue that Plato makes an invalid implicit assumption that the representation of life through arts is dangerous and doesn’t define the truth since it uses imitation. I will demonstrateRead MorePlatos The Republic and The Apology1714 Words   |  7 Pages In Plato’s The Republic and The Apology, the topic of justice is examined from multiple angles in an attempt to discover what justice is, as well as why living a just life is desirable. Plato, writing through Socrates, identifies in The Republic what he thought justice was through the creation of an ideal city and an ideal soul. Both the ideal city and the ideal soul have three components which, when all are acting harmoniously, create what Socrates considers to be justice. Before he outlines thisRead MoreEssay on Socrates Is Not Guilty1909 Words   |  8 PagesIn the book, Plato Republic, Socrates had a discussion with Thrasymachus and Glaucon about justice and unjustice. In this essay, I shall argue that Plato’s solution of the temptation of the ring is successful in a few ways. I will describe Thrasymachus and Glaucon’s idea about justice, and how Socrates discuss with them in terms of the justice of the city, justice of individual soul, his theory of forms and the importance of the knowledge of the good, and the sun analogy and the allegory of the caveRead MoreComparsion of Realism and Idealism in Niccolo Machiavelli ´s The Prince and Socrates ´ Plato ´s Republic1101 Words   |  5 Pagesfrom The Prince and Socrates, from Plato’s Republic, there is no way to avoid the clash between realism and idealism. The contrasting of both of these states of minds, when it comes to ruling a city, per se, is fascinating because, while they are extremely different, they’re perceiving the same objective: ruling a civilization successfully. Machiavelli uses the concepts of virtà ¹, fortuna, and free-will to describe political success. On the other hand, in The Republic of Plato, Socrates uses Justice

Classical Realism Vs. Marxism - 1544 Words

Borne of several exhaustive accounts of human conflict and their subsequent analyses, Classical Realism remains the most compelling theory of those recognised in the study of International Relations (IR). Predating idealist dogma, the sombre chronicles of ancient Greek historian Thucydides served as a preliminary framework for a series of timeless texts that remain as applicable in the current political climate as they had been centuries prior. A distinguishing feature of Classical Realism is its pessimistic interpretation of human nature and interstate relations, underpinning what critics perceive to be a famine of morality. This is exacerbated by an observed inability to account for substantial developments in the global political†¦show more content†¦78). Importantly, Machiavelli advised that human nature is not pliable – men â€Å"will always have, the same passions, and of necessity they must result in the same effects† (1996, p. 212). Recognising perpetual self-interest as a core attribute of humanity, theorist Hans J Morgenthau follows that these issues â€Å"cannot be exorcised by some technological, social, or, political contrivance† (1984, p. 379). Although Hobbesian and Machiavellian perceptions of human nature are generally grim, both acknowledge the intrinsic ability of man to reason. Hobbes hypothesised therein that dangers presented by human nature can only be suppressed if const ituent members of a society surrender their natural rights to a common body. For Realists, this is embodied in the creation of a concordant and sovereign state. In the collective culmination of the state of nature, individuals in society create a different state; that is, â€Å"a legal entity that possesses a permanent population, a well-defined territory and a government capable of exercising sovereignty† (Kegley Raymond 2005, p. 47). The state, often used interchangeably with the terms ‘nation’ or ‘nation-state’, is the most important actor in the Realist international system. Possessing no superior authority (sovereignty), the respective states of the world interact in a condition of anarchy. With this provision, the state is unrestrained by the ‘social contract’ imposed on individuals at a domestic level. Thus, the actions takenShow MoreRelated Mumbo Jumbo by Ishmael Reed Essay3625 Words   |  15 Pagesdance craze that reappears in New Orleans in the 1890s. Throughout the book the hoodoo, or better, the philosophy behind hoodoo is paid a lot of attention. This is significant, because in the postmodern aesthetics there is a turn to the hyper-realism. The practices that Papa La Bas carries out are related to magic and reading minds etc. The word Hoodoo came to America when the Voodoo of Haiti was imported into French Louisiana by planters and slaves that were escaping the Haitian revolution. WhenRead MoreReading Mumbo Jumbo3739 Words   |  15 PagesEgyptian dance craze that reappears in New Orleans in the 1890s. Throughout the book the hoodoo, or better, the philosophy behind hoodoo is paid a lot of attention. This is significant, because in the postmodern aesthetics there is a turn to the hyper-realism. The practices that Papa La Bas carries out are related to magic and reading minds etc. The word Hoodoo came to America when the Voodoo of Haiti was imported into French Louisiana by planters and slaves that were escaping the Haitian revolution. WhenRead MoreExistentialism vs Essentialism23287 Words   |  94 Pages------------------------------------------------- Essentialism vs. Existentialism Essentialism: A belief that things have a set of characteristics that make them what they are, amp; that the task of science and philosophy is their discovery amp; expression; the doctrine that essence is prior to existence While, Existentialism:A philosophical theory or approach, that emphasizes the existence of the individual person as a free amp; responsibleRead MoreRemains of the Day as a Postmodern Novel5345 Words   |  22 PagesBritish postmodern prose. Concerning Ishiguros work itself, and Remains of the day as an example of his manner of narrating, this subject of history is precisely the thing that dominates the discourse and captures readers attention (the plot in classical sense is quite static). Stevens, alike all of Ishiguros narrators, is not at all objective and trustworthy. 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Business Practices Free Essays

string(195) " contest because the costs associated with litigation would have been greater than the fines, and litigation would have diverted management attention from firm operations† \(Ronald: 507\)\." Business practices came under fire when America’s seventh largest firm Enron collapsed due to unethical accounting strategies. This case triggered a series of unwelcome events where one after the other, large organizations in the US collapsed or run for bankruptcy cover with one case even implicated the infamous Martha Stewart for insider trading. The various deceitful activities of some larger companies resulted in widespread public mistrust of business practices and values. We will write a custom essay sample on Business Practices or any similar topic only for you Order Now Companies as big as Adelphia, ENRON, Global Crossing, Kmart, Qwest communications, WorldCom and Xerox are all under thorough investigation by one of the few reliable authorities, Securities and Exchange Commission (Royal Bank of Scotland). All the aforementioned names were business of international repute that were charged with the unethical act of projecting inflated profits to trick stakeholders and earn higher profits and generate greater revenue from expensive stocks (Royal Bank of Scotland). WorldCom ran for insolvency in July 2002, making it one of the biggest bankruptcies of all times (Royal Bank of Scotland). Both World Com and ENRON hugely overstated their profits and hence committed the major crime of misleading stockholders. â€Å"World Com Inc. , the US No. 2 long distance Company fraudulently overstated profits by nearly 7 billion dollars in last few years. Analysts, brokers and accountants moved like herds to promote their stock† (Royal Bank of Scotland). Enron was another major setback to the industry and economy when its unethical accounting practices resulted in a huge financial crunch. The accounts of the company showed that Enron’s revenues in 2000 were over $100 billion. Enron was growing rapidly as it was selected by Fortune magazine as one of those companies whose stocks were most likely to last the entire first decade of the 21st century. Enron was performing well in all its three business namely energy, wholesale and global services. Enron’s bankruptcy then took the world by complete surprise, as this was not only the biggest collapse in the United States in recent years, it was also the fastest. Before filing for bankruptcy in December last year, Enron was the seventh largest company of the United States as it turned its businesses into monopolies by dominating all areas of its various operations. But a company that looked so powerful only a year ago collapsed dramatically when one of its accountants began raising questions about those shady transactions which had managed to conceal the company’s negative debt position from its accounting books. But slowly and gradually Enron’s problems began unrolling in front of the public and it became clear that all the profits shown by the company were simply an illusion. ENRON as well as World Com both had managed to make these blunders with the Arthur Anderson, that was reportedly, â€Å"one of the top five accountancy firms in the world† that doctored accounting books of ENRON â€Å"and later shredded vital documents at several of their office locations including London† (Royal Bank of Scotland). Ethical crisis in business is definitely a hot issue these days. With no respite in sight and probably no long term solution available, public has become wary of American corporate world. It appears that every other day, a large organization makes headlines for fraudulent actions. What is even more ironic is that these unethical practices have mostly involved large accounting firms: organizations that are created with the sole purpose of providing honest third-part services. The major accountancy organizations that have been found involved in ethical crisis included Arthur Andersen, KPMG, Price Waterhouse Coopers and others (Royal Bank of Scotland). In addition to these â€Å"in May 2002, Myrill Lynch was fined $100 million for over rating various stocks of blue chip companies and apologized for doing so in N. Y district court† (Royal Bank of Scotland). Furthermore, â€Å"many of the analysts of investment/Merchant Banks hype stock prices and profit forecasts of companies with whom they do business with† (Royal Bank of Scotland). Apart from accounting errors, there are other illegal and unethical practices that companies have been consistently resorted to. Unethical activities like â€Å"dumping polluted chemical wastes into rivers, insider trading on Wall Street, overcharging the government for Medicaid services, and institutions like Stanford University inappropriately using taxpayer money to buy a yacht or to enlarge their President’s bed in his home as morally wrong† (Ronald: 505) are the bane of business today. Nonetheless, such unethical practices are undertaken every other day with little or no regard for the well being of people. Sense of social responsibility is thus missing from our mighty corporate world today. Two important cases in this regard are as follows: Allegheny Bottling is one of the Pepsi-Cola Bottling franchises, which came under severe criticism when it was found guilty of price-fixing. It is a common practice which is nonetheless unethical (Ronald: 505). The case went to federal courts where it was decided that since ever senior executive knew of the price fixing practice and did not report it, they were all partners in crime. The court then ordered three years in prison for the entire senior management, some of whom were not directly involved but knew of the plan and chose to remain silent. The firm was also fined 1 million dollars as fine but the problem with the sentence was that a firm cannot be imprisoned under the Constitutional Law and thus what the federal court ordered was not applicable in practice. (Ronald: 505). Another such case that underscores the need for better practices and more ethically sound business code concerned Harris Corporations. This firm had incurred huge losses, amounting to more than $500,000 when they were heavily fined for their fraudulent practices. But instead of pleading not guilty or contesting, the firm quickly and calmly â€Å"pleaded no contest to charges that it participated in a kickback scheme involving a defense department loan to the Philippines† (Ronald: 506). This was an irresponsible strategy to cover up unethical practices of the firm and the CEO explained it later in these terms: â€Å"The firm and its employees were not guilty of criminal conduct; top managers pleaded no contest because the costs associated with litigation would have been greater than the fines, and litigation would have diverted management attention from firm operations† (Ronald: 507). You read "Business Practices" in category "Essay examples" Both the aforementioned cases reflect the loopholes and the weakening moral and ethical values in the corporate world. Nonetheless, the former case pertaining to the unethical practices of the Pepsi-cola franchise reveals that there are various firms that though realizing, knowingly commit crimes and conform to illegal and unethical practices. However, in the latter case, the management as well as the executives performed an unethical act, which they were ignorant of due to vague laws. Consequently, the above discussion reveals that one of the major motivations behind performing illegal acts is the reward that is offered by the executives or the employers themselves to induce unethical behavior for personal gains in terms of huge profits by illegal means. It has been observed that executives who offer bribes to other parties involved in business dealings are rewarded for transgressing code of ethics and many a times righteous individuals are scared to let the cat out of the bag, fearing the dire consequences that might place their jobs in danger. Therefore, another apparent reason of unethical behavior in the workplaces that promotes illegal practices is the fact that employees at all levels are either directly or indirectly rewarded for unethical acts or harshly abandoned by the materialistic world for going against the norm of practicing evils. Another reason as explained by Jansen and Von Glinow through their exhaustive study is that encouraging â€Å"counternorms† in an organization is also a form of promoting unethical standards in a company in order to save the firm’s name or to avoid charges. These experts believe that â€Å"within organizations, it is often considered not only acceptable but desirable, to be much more secretive and deceitful. The practice of stonewalling, willingly hiding relevant information is quite common. One reason for this is that organizations may actually punish those who are too open and honest† (Ronald: 505). There are innumerable examples and real-life situations wherein employees were offered special incentives and bonuses as well as other monetary benefits for deliberately not disclosing the actual picture thereby hiding the true story. B. F. Goodrich is one of the employers utilizing such filthy strategies to gain acceptance and to enhance the international reputation. He offered great monetary gains to all his employees who provided him with and generated pseudo figures, with the help of which, he managed to receive a certificate for high â€Å"quality aircraft brakes† (Ronald: 509). In addition to the above, Metropolitan Edison also bribed their employees and compelled them to keep all the necessary and relevant details pertaining to the Three Mile Island endoplasmic mishap from the governmental agencies and other investigation firms (Ronald: 511). Thus the cases mentioned above lucidly prove the experts view that organizations advocate â€Å"counternorms of secrecy and deceitfulness. Because these practices are commonly rewarded and accepted suggests that organizations may be operating within a world that dictates its own set of accepted rules. This reasoning suggests a second answer to the question of why organizations knowingly act unethically namely, because managerial values exist that undermine integrity† (Ronald: 512). We all know by now that ethical problems exist in firms and when it is not in the form of major unethical practices like accounting fraud, monopolistic strategies or price-fixing issues, they can exist in the form of small white lies. While they may not be intended to harm anyone, but they certainly mislead the public thus creating a huge gap between actual reality and projected reality. And what is really disturbing is the fact that while some unethical practiced are condemned by law, there are others for which no legal respite is available. False advertising is one such issue. False advertising is certainly an ethical issue, which cannot be controlled through legal action. This is because while there are certain trade laws, which prohibit misrepresentation, advertising firms and their clients can always invoke First Amendment in order to retain their right of freedom of speech. But it is the ethical duty of the companies to present their commodities in the positive light without completely altering the reality. There are different ways in which advertising can deceive the viewers and potential customers. The one important method often used by most advertisers is the misrepresentation method where products are made to appear better than they really are. While we cannot do anything about instilling a sense of ethical responsibility in these people, it is still important for the customers and viewers to ignore useless and senseless advertisement. The Editor of The World I (1996) writes, â€Å"The Supreme Court has held that advertising, at least much of it, is protected by the First Amendment’s freedom of speech provisions. Thus, advertising is an important and protected form of speech, similar to journalism or statements of political opinion. So, rather than reject advertising outright, we need to learn how to discern the acceptable and useful from the unacceptable and worthless. Besides, everyone actually does accept and use advertising–namely that which promotes products or services or causes that one favors. † For this reason, while we may not always be able to control unethical problems concerning the business world, we must realize that it is the responsibility of companies to ensure that ethical violations are avoided at all costs. Firm must introduce the codes of ethics and make them suitable according to the nature of the job. These rules and regulations must envelope â€Å"relations with government organizations, relations with customers and suppliers and employee conflicts of interest, honesty, etc. † (Creating an ethical organization). It is also recommended that the organizations â€Å"provide general principles and detailed guidelines, including policies related to violations† and must make sure not to â€Å"overload people with unnecessary information† for that might result in the loss of interest and extreme agitation of the entire notion. Moreover, executives as well as managers are advised to enforce the code with proper training and effective communication. How to cite Business Practices, Essay examples

Understand Real Defence Regarding The Same â€Myassignmenthelp.Com

Question: Discuss About The Understand Real Defence Regarding The Same? Answer: Introduction: The two phrases directing mind and will and piercing corporate veil are related to each other as both the terms are using for identifying the separate legal entity of the company. Sometimes it has been observed that the directors of the company are misusing their power and made an excuse regarding the companys structure. This report will discuss about the two topics to understand the real defence regarding the same. Directing mind and will: It is a no doubt to state that a company is a separate legal entity that is proved in the case of Salomon v. Salomon. It has been held that a company should not be held liable for the acts of any of its employee. However, this is also true that the company cannot perform its work by itself or without the help of the others. The case related to directing mind and the conception was developed in the year 1944 in the case of DPP v Kent and Sussex Contractors Ltd, where the court was pleased to observe that the company can be held liable for any illegal act as all the acts of the company is regulated by the directors who have the knowledge regarding the outcome of it (Lipsitt 2013). It was held in Lennards Carrying Co. Ltd v Asiatic Petroleum Co. Ltd, it was held that the Board of Directors of the company are the persons who are involving in the action relating to the directing mind and will (De Wet 2017). There are certain acts that are not written under the constitution of the company but are related integrally to the functioning of the company. These actions are regulated by the board of directors and if there is any breach occurred regarding the same, the company will be held liable under the version of directing mind and will as held in Tesco Supermarket v Nattrass (1971) UKHL 1. Piercing the corporate veil: It is a well known principle of law that a company is a separate legal entity and therefore, for any kind of liability, the company cannot be held liable. It standardise the rights and liabilities of a corporation. In case of the common law country, there is leaning mentality regarding the corporate veil observed. However, in certain circumstances, these rules are pierced (Yadav 2017). Suppose a company was held liable for certain fraud cases. When the affected party sue the company as a whole, they will held the company liable for the same. It is a fact that the company cannot perform their job alone and the directors and other shareholders of the company regulating the company. When the company is getting registered, a veil regarding the separate liability cropped up. When certain allegation made against the company, it will be the duty of the court to analyse the matter and replace the main culprit of the case by lifting the corporate veil (Flint 2016). In Gilford Motor Co. Ltd v Horne, it has been observed that the corporate veil of the corporation can be uplifted where it is required regarding the appropriate cases. Conclusion: Therefore, from the case, it has been held that the principle regarding the separate entity of the company can be upheld in certain situation. The main objective of this report is to find out the grounds where the director of the company shall be held liable for any illegal acts. Reference: De Wet, M., 2017. Directing'The Absolute': towards destabilising the victim/perpetrator binary in Sam Shepard's A lie of the mind (1985) (Doctoral dissertation, University of Pretoria). Flint, D., 2016. Incentives, Employers, and the Corporate Veil: Should Domestic Corporations Be More Accountable for the Actions of Their Overseas Subsidiaries?. Ariz. St. LJ, 48, p.833. Lipsitt, L.P., 2013. impression of outside objects, whether agreeable or offensive; but the mind, possessed of a self-directing power, may turn its attention to whatever it thinks proper. It should, therefore, be employed in the most useful pursuits, not barely in contemplation but in such contemplation as may. Early Influences Shaping The Individual, 161, p.207. Yadav, P.K., 2017. Lifting of Corporate Veil.

Film Critique of the Grapes of Wrath free essay sample

The Grapes of Wrath was a 1940s film adapted from the novel by John Steinbeck. It graphically depicts the trials and tribulations of a mid-western American farming family, the Joads. It is set during the strife of the 1920s great depression and the seven-year drought of the mid 1930s, which devastated thousands of working families. It recreates the intensity of the socio-economic impact of the Great Depression. This picturesque film has an honest and naturalistic structure and appearance beginning with the style of black and white film. The low-lit scenes that were perhaps provided by candlelight alone contributed to many dark and down trodden moods throughout the film. Vast landscape scenes of the wide-open spaces of the American frontier were excellently shot and molded by the films amazing cinematographer and also by the Academy Award winning director, John Ford. The windy, dry and desolate climate portrayed in first opening scenes, early 20th century vehicles and dress provided more then sufficient evidence of the time period and then it is revealed the location to be in the state of Oklahoma. We will write a custom essay sample on Film Critique of the Grapes of Wrath or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Ever present is the bewilderment cascading off a lonesome man just released from prison in search of his family. This development in plot likely becomes the first strong pluck to the viewer’s heartstrings. The Film accurately shapes the view from one family in the epic move to a new home in the 1930s drought when there was simply nowhere else to go. The notice to â€Å"get-off† was all too common in this time of the depression and it is shown magnificently in this film. Forced to become a migrant family the Joads pack up and depart from their old dried up land. Evicted from the land they thought to have owned and earned it is apparent in his body as a neighborhood character telling his own story of ‘the day a man came by’ and in frustration he shoutsâ€Å"†¦born on it, worked on it, and die on it! † The plight of the Joad family is just one reflection of the thousands of other tenant farmers during the country’s economic crisis that suffered from oppression imposed by the banks and big mechanized farm interests. Gradually the family’s slow disintegration provides insight into the thousands of Oklahoma, Colorado, Texas, and Kansas families who were evicted and uprooted from their family land. Setting their eyes on California as a safe haven and land of â€Å"milk and honey†, as they find that much too many did as well, was all they had to keep spirits bright and the hope of a new home alive. As members of the family struggle on a long trip where ‘Grandpa’ then ‘Grandma’ pass away and it becomes apparent that the heart of the movie belongs to two characters. First, ‘Ma’ is centered to represent the backbone and strong will of the family to succeed. She believes that the working people should continue to endure the hardships come what may and works her best to keep the family together. She is concerned early in the film the possibilities of her son’s pain throughout his sentence in prison. She doesn’t want â€Å"no mean son†. She worries on what she can do for the little children who come to them during dinner in hopes of receiving a meal for the day when they are set up in camp. The other heart of the film is the character of ‘Tom Joad’, played by Henry Fonda. He is a ex-con with a bit of a hot head that establishes a remarkable will and resilient spirit of an â€Å"Okie† whom refuses to be beaten down by every twist and turn. He personifies the common workingman’s hunger for justice and respect. All he wants is a fair wage and the dignity he earns without having to compete with big business and corrupt government heads to do it. He be-friends an ex-preacher, a familiar face but a lost soul in town whom the family invites along for the journey. Tom reflects upon the words and actions of ‘Casey’ later in the movie when he departs from the camp to relieve the rest of the family from the trouble sure to be heading his way. From my view I can confidently say that the economic statements matched up to our previous and current readings in class. The villains were depicted as the corporate figures and corrupt police force. The innocent workers just trying to make a living showed true heart, as anyone would have imagined in history or in their own ancestors. It was easy to pick out major themes such s the overall importance of family, the suffering and oppression of the farmers of that time, the hollowness of the American Dream, the display of human dignity and spirit in the face of adversity, and issues of social and economic justice. These themes often occur today and with outstanding similarities. This film even mirrors our modern day economic issues with banks foreclosing on families homes, declining wages, the decreasing value of the American dollar, the desperate search for work, people living out of their cars and the danger of being without healthcare. The film has a somewhat dark and sullen tone to it, but in the ending scene it’s apparent that this film was created to not just entertain and enlighten the viewers of the 1940s, but also to inspire, and document the struggles for future generations to come of how bad things can get. How we as a society should not take property, freedom, food on our tables, and clothes on our backs for granted. Nor should we lie in the dirt and give up when we are pushed to the ground. Life is worth fighting for, not running away from.

Import Export Financing Essays

Import Export Financing Essays Import Export Financing Paper Import Export Financing Paper IMPORT FINANCING Background Like other developing countries, Pakistan’s import bill exceeds exports. Therefore, it faces scarcity of foreign exchange to meet its import requirements. According to daily â€Å"DAWN† dated 18th November 2012, Pakistan’s foreign exchange reserves were USD 13. 84 Billion at the week ended as on 9th November 2012. Gap between the import and export bills is partially covered by regulations, controls and measures exercised by State Bank of Pakistan and partially by the international credit, aid, loan agencies like International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB). State Bank of Pakistan keeps control at a time, over this imbalance by imposing cash margin restrictions on import of general items from time to time. This is done in order to restrict imports and to allow import of only necessary items to fulfill genuine requirements and to discourage import of non-commercial and luxury items. CASE STUDY: On 1st February 2012, restriction on import of CNG cylinders and kits was imposed by Government of Pakistan in view of government policy to discourage use of CNG as a fuel due to its short supply and ever rising demand. No importer is allowed to import CNG cylinders kits up till now which is being restricted by SBP custom authority. Foreign trade involves many risks because of different locations /countries of importer and exporter. Both the parties are doing their businesses in different countries where different laws regulations apply and it is difficult to settle any dispute regarding goods quality and payment settlement between importer and exporter. For safeguarding interest of both importer and exporter, banks involve in these transactions for smooth settlement between the parties. IMPORTERS Any body who imports the required goods into the country is called an importer. The importer has to pay the exporter for the value of goods in foreign exchange. Importers are classified into three categories: i) Commercial sector importer i-e. a firm, institution, organization, person or group of persons registered as an importer is called commercial importer. ii) Industrial sector importer i-e. any industrial unit which is registered as importer comes under this category. iii) Public sector importers i-e. the organizations owned by the government which import capital / consumer commodities as per their requirement. Usually, these organizations are not registered as regular importer and their requests for opening letter of credit is routed through SBP. Letter of Credit (L/C) Letter of Credit is a written undertaking by a bank given to the seller/exporter (beneficiary) at the request and instructions of the buyer/importer (applicant) to pay at sight or at a determinable future date a stated sum of money against the required documents. The documents include commercial invoice, certificate of origin, transport document relating to the mode of transport used (Airway Bill, Bill of Lading, Railway Receipt, Truck Receipt, etc. and other documents required as per terms of letter of credit. Parties to Letter of Credit In documentary credit operations, maximum number of parties involved are as under: i) Applicant (Opener of L/C): The applicant of a credit is an importer or buyer who requests his bank to issue documentary credit in favor of the seller /exporter. ii) Issuing Bank (Opening Bank): The issuing bank is also called importer’s bank. At the request of the applicant, this bank issues the credit in accordance with the instructions of the applicant in favor of the exporter. The letter of credit is sent to the bank in the exporter/seller’s country. ii) Advising Bank: Advising bank is also known as transmitting or correspondent bank in the seller’s country. Issuing bank forwards the advice of the credit by mail or by any means of tele-transmission (i-e. cable, telex, SWIFT, etc. ) to a correspondent bank where the beneficiary business exists. Normally, all L/Cs are sent via SWIFT i-e. Society for Worldwide International Financial Transactions. iv) Beneficiary (Seller or Exporter): The person or body receiving the letter of credit from the importer and/or in whose favor letter of credit is issued is called beneficiary. v) Confirming Bank: Confirming bank is the bank which at the specific request of the issuing bank adds its confirmation to a letter of credit. Adding confirmation constitutes a definite undertaking of the confirming bank, in addition to that of the issuing bank. vi) Negotiating Bank: Negotiating Bank is the bank which receives the documents against letter of credit as authorized bank. This bank has to give value for drafts and/or documents under L/C conditions. Negotiating Bank may or may not be the Advising Bank. This bank examines the documents against L/C, and if found in order, negotiates the documents and makes payment to the seller. The negotiating bank dispatches the documents to the Issuing Bank claiming reimbursement from the bank as mentioned in the L/C and as agreed between the two banks. The Negotiating Bank should ensure before lodgment of reimbursement claim that all terms of letter of credit have been complied with. vii) Reimbursing Bank: Reimbursing bank is the bank which, on behalf of the opening bank, honors the reimbursement claim lodged by the Negotiating Bank. MODES OF PAYMENT OF L/Cs There are four modes of payments of letters of credit as detailed under: (i) L/C available by Negotiation: If L/C provides for negotiation to pay without recourse to drawers and/or bonafide holders in terms of credit. Negotiation means the payment of value for draft(s) and/or documents by the bank authorized to negotiate complying with the terms of L/C. (ii) L/C available by Acceptance: In case the credit calls for a usance draft and is available by acceptance on the issuing bank, and the seller submits all the documents including usance bill of exchange to a nominated or another bank complying all the terms and conditions of the credit, the seller receives acceptance of the payment at maturity date. However, under a separate arrangement, he may get his usance draft discounted by the bank in order to meet his cash flow requirements. In such case, seller has to bear discount charges. (iii) L/C available by Sight Payment: If the beneficiary of letter of credit is to obtain payment immediately on presentation of stipulated documents, it is the sight letter of credit. In this case the exporter draws a sight or demand draft payable at the counters of the advising bank or the bank specified in the letter of credit. The draft is paid on presentation provided that all the other terms of L/C have been complied with. (iv) L/C available by Deferred Payment: In this case, L/C opening bank has to effect payment after a period specified in the L/C, calculated as to the number of days after the date of presentation of documents or after the date of shipment. Such L/C does not require drafts to be drawn or presented alongwith other documents. RETIREMENT OF DOCUMENTS When the documents are received from foreign bank, L/C opening bank affixes â€Å"Dak Received† stamp and enters the same in â€Å"Dak Received Register†. The duplicate set of documents, received by the bank, is kept with original set of documents and duplicate should be separate from the original. The bank verifies that all the documents are received as specified in the forwarding schedule of the negotiating/exporter’s bank. While scrutinizing the documents, it is also ensured that all the documents have been received as per terms of L/C. The retirement of documents can be made by the following means: Through debit to the customer’s account Through Trust Receipt Facility (FTR) offered by the bank. Through Finance against Imported Merchandise (FIM) THROUGH DEBIT TO CUSTOMER’S ACCOUNT In case customer/importer has sufficient funds to settle the bill, Cost Memo is prepared and amount in foreign currency is converted into Pak Rupees at Selling TT OD rate of exchange. Any foreign correspondent charges and service charges are added to it. Customer issues cheque / authority letter to debit his account for bill amount plus mark-up and other charges. After receiving the amount, title documents are endorsed by two authorized signatories and the same are delivered to customer against proper acknowledgement. In case, importer has not sufficient funds to settle the bill, he can avail finance from bank to settle the claim. Credit facilities available to the importer are explained hereunder: A. FUND BASED FACILITIES 1. FINANCE AGAINST TRUST RECEIPT (FATR) If customer desires to retire the documents through Trust Receipt facility, a request letter to this effect is obtained from him. In this case, bank releases documents of the goods to importer so that he may clear the goods from custom authorities. Payment is settled by the bank and reimbursement is made to foreign bank. The bank has lien on receivables in this case and importer repays the bank finance after sale of the goods. Trust Receipt should not be allowed against Usance L/C unless specific approval from the authority is held. Following documents are obtained before releasing the documents on Finance Against Trust Receipt: ? Letter of Request from the customer / importer ? Bill of Exchange duly accepted by the party ? Demand Promissory Note ? Trust Receipt ? Collateral (if any) as per limit approval ? Invoice ? Agreement of Mark-up The Trust Receipt facility can only be extended upto 45/60 days or as per terms of sanction. . FINANCE AGAINST IMPORTED MERCHANDISE (FIM) This is a sale transaction at a price mutually agreed upon between the bank and the importer. The sale price consists of value of goods or documents of title to goods and margin of profit. The sale price is payable by the buyer on deferred payment basis either in part or in lump sum. This facility is granted for a period of 60 days or as per sanction advice. Following documents are obtained from the party: ? Letter of Request from the customer / importer ? Demand Promissory Note ? Letter of Indemnity for clearance of consignment ? Letter of Pledge ? Agreement of Mark-up This type of facility is against pledge of imported stocks and its process / transaction flow is similar to that of Self-Liquidating Inventory Finance. TRANSACTION FLOW: Goods imported through L/C, when reach the port in importer’s country, there is a process of releasing the goods from custom authorities. For this purpose Clearing Agents on the panel of bank. The clearing agent after clearing the goods, transports the same via Goods Transport Companies to the destination of the importer. At importer’s business premises / factory, etc. Bank Muccadam is available to take over the custody of the goods as soon as these are received at the site. These goods are kept under pledge arrangement and bank takes effective control possession of the imported goods. B. NON-FUND BASED FACILITIES 3. USANCE LETTER OF CREDIT This type of letter of credit is issued with a condition that payment will be made after some specified period of time i-e. 180 days, 365 days, etc. The bank undertakes to pay the exporter for the value of goods at some later date in order to facilitate the importer to arrange funds for settlement of the transaction. Usance letter of credit is very useful facility in which importer not only avails the opportunity of time available to pay his liabilities but also he saves borrowing costs due to difference of LIBOR and KIBOR. At present KIBOR is upto 10% whereas LIBOR is ranging from 0. 5% to 1% for the last two to three years. In case of Usance L/C, the importer will have to pay the value of goods alongwith some additional profit/surcharge levied by the exporter (which is included in the Invoice Value) for allowing repayment period to importer. Exporter will calculate this additional profit on transaction on the basis of LIBOR (0. 70%) instead of KIBOR (10%). In case importer avails the credit lines to settle the import bill from his local bank, he will bear the borrowing/financing cost on the basis of KIBOR which is far above than LIBOR. 4. SHIPPING GUARANTEE The shipping guarantee is issued in favor of the local shipping agents for obtaining delivery order to clear goods from port / customer authorities in the absence of original shipping documents of L/Cs. This guarantee is issued on prescribed from provided by the shipping company. This guarantee is signed by the importer and counter-signed by the bank. Following documents are required from the customer at the time of issuance of shipping guarantee: ? Letter of Request from the customer / importer ? Copy of Invoice ? Copy of Bill of Lading / transport document ? Format of the shipping guarantee to be issued ? Counter guarantee in favor of the bank duly signed by the customer ? Letter of undertaking regarding exchange rate fluctuation ? Undertaking to accept the draft in case of usance L/C ? Undertaking to accept all discrepancies in the documents Liability under the shipping guarantee shall be reversed only after the surrender of the original bill of lading against which guarantee has been issued and the receipt of original guarantee from the shipping company. On receipt of original bill of lading, this is forwarded to the shipping company alongwith request to return the original guarantee. This facility is very short term nature normally 30 days. B. EXPORT FINANCE In order to strengthen its position in the international markets, Pakistan has to strive for improving its balance of trade by increasing its exports. As such exports have been the top priority of the government’s agenda to improve the position of foreign exchange earning of the country. Banks have a very important role to play in trade activities of the country. Banks act as agents for both the importers and exporters and play important role in the development of country’s trade. While handling export transactions, Credit Manager and/or Export staff of the bank must always keep into consideration the following: ? Export Policy Order of the government for the financial year ? Guidelines/instructions of Export Promotion Bureau ? State Bank of Pakistan Foreign Exchange Circulars ? Bank’s Foreign Exchange Regulations and FEX circulars ADVISING OF EXPORT LETTERS OF CREDIT Letters of credit received from foreign banks are advised to the beneficiaries in Pakistan through L/Cs advising departments of the bank. All L/Cs received are carefully scrutinized for their authenticity adhering to the terms conditions and complying with our Foreign Exchange Regulations and International laws publications (UCP 500). FORM â€Å"E† No person can export any goods from Pakistan unless he is duly registered as an exporter with Export Promotion Bureau under the registration â€Å"Importer Exporter Order 1952†. Blank â€Å"E† Forms are issued to exporters, against written request, free of any charges. In order to export, the exporter will provide details on â€Å"E† form in respect of goods, quantity, invoice value of goods, terms of sale, destination and name address of the importer. This â€Å"E† form is the main document to calculate value of goods exported and is used to control the export of any item from Pakistan. CASE STUDY: During October 2012, Government of Pakistan allowed export of 200,000 tons of sugar from Pakistan with a condition that one sugar mill can export maximum upto 10,000 tons of sugar. This maximum quantity of sugar (10,000 tons) exported by any single sugar mill to be controlled by the â€Å"E† Form submitted by the exporting sugar mill. In case of any effort of sugar mill to exceed export from 10,000 tons, SBP can very easily trace this from the record of â€Å"E† form available in its record. In the following paragraphs, we will discuss the types of financing available to exporter. . FOREIGN DOCUMENTARY BILLS PURCHASED AGAINST L/Cs This type of financing is referred to as Foreign Bills Purchased (FBP). Only those documents are purchased which are negotiable and which conform to the terms of letters of credit. The documents are forwarded to the L/C opening bank and payment is received through bank’s foreign correspondents maintaining NOSTRO account in v arious currencies. Following documents are submitted by the exporter for negotiation: ? Original Letter of Credit (L/C) ? Documents of title to goods (Bill of lading, Airway bill, etc. ? Bill of Exchange (B/E) ? Commercial Invoice ? Certificate of Origin ? Packing List ? Insurance Policy ? Any other document as per terms of L/C FBP is practical example of â€Å"Factoring† in which bank purchases the receivable of the client/exporter after making payment and takes the responsibility of collection of the receivable at its own end. The exporter transfers all rights of ownership of the documents to the bank and authorization to claim reimbursement from the L/C opening bank. This transaction is to be handled with extreme care, vigilance and diligence. All the financial and commercial documents are scrutinized as per terms conditions of L/C. Documents after careful scrutiny are forwarded to the L/C opening bank and claim of reimbursement is made as well. On realization of the bill, FBP is settled /adjusted. 2. FOREIGN DOCUMENTARY BILLS FOR COLLECTION Financing against foreign bills is made on export bills which are drawn under Letter of credit and are sent for payment under documentary collection. This is a sale transaction at a price mutually agreed upon between the buyer (bank) and seller (exporter). The documents are sold to the bank and sale proceeds will be credited in the account of seller (exporter). This type of export finance is termed as â€Å"Finance against Foreign Bills† (FAFB). All other procedures of FAFB are similar to FBP except that under FAFB in the event of non-payment of the bill by L/C opening bank or importer, the exporter undertakes to repurchase the same documents at bank’s marked up price. FAFB is the practical example of â€Å"Lien on Receivables†. 3. FINANCE AGAINST PACKING CREDIT (FAPC) Packing Credit is a sort of pre-shipment or pre-export finance, extended to prime valued customers (exporters) against valid letter of credit / firm contract order. The finance is provided to the exporter for the following: ? Purchase of goods ? Freight charges ? Clearing forwarding charges ? Export duty, etc. ? Packing requirements Finance against packing credit is granted for 180 days or upto the period the shipment of goods is affected whichever is earlier. Lien is marked on the Letter of Credit / Firm Contract in order to prevent negotiation of documents.

Personal leadership Essay Example | Topics and Well Written Essays - 1250 words

Personal leadership - Essay Example One of the most notable things about this individual was how they learned to lead. While a handful of managers at the restaurant had experience in hospitality management from formal training, this particular manager had learned his management skills from on the job work. In these regards, his skill-set stood out slightly from managers that had the formal background and in some instances one could detect a slight sense of superiority from those that had actually gone through formal schooling. Instead, this manager had begun his career as a host in one of the less populated restaurants, and later moved to serving. As he succeeded at these positions upper level management soon offered him a managerial position at that particular restaurant; after succeeding at this restaurant he transferred to the larger restaurant, where I came into contact with him. Consider this brief background account, it’s clear that the individual developed their leadership and managerial skills from in-ho use interactions and personal life experience rather than formal training. In examining his leadership skills this was evident as there seemed to be a greater level of understanding, efficiency, and empathy with the employees and business practices than the managers that predominantly had formal training. In terms of defining leadership there are a number of issues that must be considered in relation to this individual’s philosophy. While some my disregard the insight that can be gleamed from the perspective of a restaurant manager, this paper argues that in actuality this perspective is highly relevant to nearly all forms of business as it consists of a combination of a variety of class understandings. For instance, the restaurant provides a solid combination of lower, middle, and upper class patrons that must be considered and negotiated with; there is also a highly diverse workforce, with different ages and nationalities that must be managed. In these respects the position demands a highly malleable individual. In terms of this man’s leadership philosophy it was clear that he adopted a policy of mutual respect for employees. He treated all individuals equitably and had a general understanding demeanor. If there were any specific leadership philosophies embodied in his approach I believe they would generally be linked to this element as a base factor. Extending beyond the equitable treatment of employees and customers there were a number of elements within his treatment of employees that were highly notable. In terms of new employees he was understanding and open, allowing them to develop in a constructive and not overly critical way. In terms of experienced employees his approach was one wherein rather than having to demand respect through professional rank, he gained respect by being a reliable and efficient employee. In very few instances was there employee disrespect, as the general consensus in regards to his leadership approach was positi ve. In achieving this level of respect it was clear that it was accomplished through his daily actions. For example, he always showed up for work on time and was highly efficient in terms of restaurant tasks. One such skill was his ability to route food orders to the specific waiters and ensure the food arrived at the table in a timely way. Another skill was being able to speak with all customers on a level that made them feel comfortable with his