Essay on Thomas Hobbes and The Human Nature - 685 Words

Thomas Hobbes was a 17th century British philosopher and political theorist in early modern times, known for his political thoughts. Witnessing the horrors of the English Civil War that took place from 1642–1651, Hobbes was convinced that an absolute monarchy was the only form of government that could protect individuals and their interests while providing a secure environment that allowed for practice of those interests. Hobbes writes about the idea of absolutism, or absolute monarchy- a form of government in which all power is to be invested in a single ruler’s hands- in his most renowned work, Leviathan, published in 1651. Hobbes argues that without absolutism, no man can live with a sense of security because all acts of human nature†¦show more content†¦There is violence in every corner. People ultimately become each other’s enemies. They fight, kill and destroy for each other’s property, for their own safety, and for the thought of being und ervalued by another individual. Hobbes argues that because man is driven purely by his own nature and this condition of Warre is evident in a nation with no ultimate ruler, â€Å"everyone is governed by his own Reason†¦every man has a Right to every thing; even to one another’s body† (Hobbes, 21). When this occurs, there are no laws that say that something is unjust. There is no safety to allow for people to live a relaxed life. Hobbes says, â€Å"as long as this natural Right of every man to every thing endureth, there can be no security to any man† (Hobbes, 21). People have to continually watch their own back and live in constant fear that at any given moment, they can be attacked for any given reason. For it is simply the Right of human nature. Hobbes’ solution for this unsafe environment created by the Right of human nature is an absolute monarchy. He proposes that â€Å"the only way to defend them from the invasion of {foreigners} and the injur ies of one another†¦ is, to conferre all their power and strength upon one Man† (Hobbes, 22). Hobbes believes that the only way to keep everyone safe and in order is to have the people combine all their voices, giving up their own power of governingShow MoreRelatedTheories Of Human Nature By Karl Marx And Thomas Hobbes Essay1656 Words   |  7 PagesIn both theories of human nature by Karl Marx and Thomas Hobbes respectfully, each provide their own perspective on the fundamental point of human nature. Marx makes the argument that that humans are inherently cooperative and the capitalist system creates a state of nature where humans are competitive. In opposition to Marx’ argument, Hobbes may say that humans are inherently competitive and the social contract is what makes humans cooperate within the capitalist system. 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In response to the challenge of explaining concepts that seemed only explicable through idealist thinking (such as thoughts and emotions), Hobbes used logic and reasoning to develop materialist theories – some impressively similar in nature to neurobiology. His pessimistic views of society are drawnRead MoreThomas Hobbes s Views On Human Nature And His Ideal Government1540 Words   |  7 PagesThomas Hobbes describes his views on human nature and his ideal government in Leviathan. He believes human nature is antagonistic, and condemns man to a life of violence and misery without strong government. In contrast to animals, who are able to live together in a society without a coercive power, Hobbes believes that men are unable to coexist peacefully without a greater authority because they are confrontational by nature. â€Å"In the nature of man†, Hobbes says â€Å"there are three principal causesRead More Human Nature as Viewed by Thomas Hobbes and David Hume Essay example1948 Words   |  8 PagesHuman Nature as Viewed by Thomas Hobbes and David Hume Thomas Hobbes in Chapter 13 of Leviathan, and David Hume in Section 3 of An Enquiry Concerning the Princples of Morals, give views of human nature. Hobbes’ view captures survivalism as significant in our nature but cannot account for altruism. We cover Hobbes’ theory with a theory of Varied Levels of Survivalism, explaining a larger body of behavior with the foundation Hobbes gives. Hume gives a scenario which does not directly proveRead MoreThe Nature Of Human Beings By Niccolo Machiavelli s The Prince, And Thomas Hobbes Leviathan1450 Words   |  6 PagesReason has been argued to be the essence of humans; however, humans are not the only rational beings to inhabit Earth. The nature of human beings tales far beyond rationality to characteristics such as emotion or pity. For example, if a man bears witness to a bull ferociously attacking another man, feelings of empathy, sympathy, and even pity quickly fill his mind. Thus, emphasizing that reason is not the sole e ssence of human beings. Humans are animals, and yes, they are rational beings. HoweverRead MoreThomas Hobbes Philosophical Political Piece1317 Words   |  6 PagesThomas Hobbe s philosophical political piece The Leviathan argues that society functions most effectively if all state and commonwealth is delegated by an all powerful sovereign, and that without it we are in a state of chaos, otherwise titled by Hobbes as the state of nature (Thomas Hobbes, 2002, p. 181). I will argue that it is not possible to acknowledge what life is like in the state of nature without fully acknowledging that life in the state of nature leads to an all-powerful sovereign

Poultry Farming Backyard of Poultry Farming

Question: Discuss about a Artcle for Poultry Farming? Answer: Poultry farming specifically refers to raising of various kinds of domesticated birds that specifically includes chickens, turkeys, geese and ducks. The key purpose of poultry farming thus includes raising of different types of domestic birds commercially for the production of meats, eggs, and feathers (Maqbool, Sarwar and Bakhs). In context to the present day scenario, poultry farming is considered as one of the most important farming techniques that help in developing an insight knowledge regarding the benefits, purpose, effectiveness and uniqueness of the method (Pathak and Nath). Thus, the present paper will emphasize upon the interesting facts, background information, originality and unbiased viewpoint that has been expressed taking into consideration from the perspective of poultry farming. Figure 1: Poultry Farming on a Large Scale (Source: Maqbool, Sarwar and Bakhs) Poultry farming provides effective and significant information regarding how the domestic birds are specifically raised commercially for the production of eggs, meats, and feathers (Wang et al.). Poultry farming is unique in a way that it specifically deals with farming of domesticated birds and thus produces information regarding the benefits of the technique, various methods implemented, care and management were taken and marketing of the products thus obtained. The farming technique also gives us valuable information regarding animal husbandry systems that lies in association with the implementation of the farming methods (Sankhyan et al.). This primarily includes intensive and extensive methods of poultry farming. Thus, it provides valuable information to the farmers that help them in enriching their knowledge including the techniques, issues, production efficiency and proper raising methods that will help in better productivity and marketing of the products thus produced from ra ising of the domestic birds. Understanding the concept of Poultry farming provides information regarding the different kinds of techniques that have been implemented for raising the domesticated birds. The report suggests that the most common and widely raised poultry birds are the chicken. According to Chen, about 5000 million chickens are raised every year for the production of useful foods such as meats and eggs. A recent report has suggested that USA and UK are the two countries that consume more meats and eggs of chicken in comparison to the other countries (Maqbool, Sarwar and Bakhs). The UK consumes More than 29 million chickens and eggs consumes on an average (Pathak and Nath). However commercial poultry farming plays a significant role in meeting up the demands of the animal nutrition as well. The interesting facts thus discussed helped in gaining suitable information regarding the importance of poultry concerning meeting the demands and needs of the local consumers those who explicitly depends on egg a nd chicken as the primary source of food (Thyagarajan, Barathi and Sakthivadjyu). The facts also revealed regarding the benefits of poultry farming as well and also enhanced the learning process by highlighting the different kinds of methods that are primarily implemented in case o effective a deficient poultry farming. It also provided learning regarding the feeding techniques that are used for feeding the birds and also about the various types of care and management methods implemented by taking proper care of the birds (Damron). In the end, the information's also helped in gaining knowledge regarding the products thus obtained from the poultry farming are substantially sold out in the markets depending upon the demands and nature of the consumers buying behavior. Figure 2: Processing of Poultry Products (Source: Pathak and Nath) The method of poultry farming was initially administered for primarily raising the chickens. With the passage of time, the poultry farming technique has been significantly administered in case of other birds as well that specifically includes geese, turkey, and ducks. The method of poultry firming initially began in the period of early 1800s. With the ongoing improvement in technology, poultry farming has thus been implemented for various kinds of other domestic birds as well which helped in specifically highlighting the importance of the other methods that are specifically applied to developing the concept of poultry farming. Apart from the other methods of farming that includes farming of cattle, buffaloes, pigs and other animals, poultry farming helps in dealing with different kinds of birds and not a single particular birds (Wang et al.). This, in turn, helps in improving the method of animal husbandry as well. Thus, under one shed different kinds of birds can be raised significa ntly which in terms provides a better resource for the production of a large number of products like eggs and meats which are considered as important items that are consumed on a daily basis by the consumers. Understanding the benefits of the poultry farming makes it a topic worthy of research. In context to the other farming methods, poultry farming is considered as one of the most important and best methods of farming as it tends to satisfy the demands of the consumers who readily depends on eggs and meat as the only source of food (Pathak and Nath). Since eggs and meats are considered as one of the most important food sources on which the half of the entire population of the world depends, understanding the benefits of poultry farming than the farming methods of other animals makes it a significant topic for the present research. The major advantage of poultry farming is that it does include any high capital at the starting. A basic capital is all just required (Wankhade). This is because the poultry birds do not have a high maintenance cost and thus, a small cost is enough to start with the raising. Secondly in comparison to other farming techniques, the poultry farming business helps in ensuring a high return on investment within a very short span of time. Moreover, the diseases associated with can be equally minimized by maintaining proper hygiene and case and reports suggest that birds tend to have fewer diseases in context to the other animals. Lastly, the most important point is that poultry helps in providing a large amount of fresh and nutritious food that has a tremendous global demand (Thyagarajan, Barathi and Sakthivadjyu). As the products obtained from the poultry farm are fresh and rich in essential nutrients, there is a steady increase in the global overall consumption of the poultry products, also, to it, poultry farming also provides a source of income and employment opportunities for most of the people. Figure 3: Poultry Farming in factory (Source: Wankhade) In gaining an understanding of the overall topic, it can be thus stated that undoubtedly poultry farming is considered as one of the most significant methods of agriculture that helps the industries to initiate large-scale production of eggs, meats, and feathers. They form a crucial part of the overall global economy as it tends to satisfy the global needs of the consumers as well. The industry people now days are trying to develop more advanced and intensive method of poultry farming that will help to access easily and figure out the latest trends in the market field (Maheshwari). The birds belonging to the poultry farming needs to be handled with proper care, and hence, better maintenance methods need to be implemented for more efficiency and betterment of the products thus obtained from the birds that are used in poultry farming. Changes also include implementation of effective management strategies that will provide e a suitable ground for the employees working in the poultry far ming for the betterment of the overall facilities of the in the farm (Thyagarajan, Barathi and Sakthivadjyu). The employees farmers need to be more aware regarding the different types of poultry farming methods that have been implemented for the sole purpose that will lead to better production and improvement of the product efficiency. Hence, in short the methods of poultry farming that are implemented tends to produce a significant impact on the overall production and quality of the products thus obtained from raising different kinds of birds (Pathak and Nath). Figure 4: Production Process (Source: Thyagarajan, Barathi and Sakthivadjyu) Drawing a conclusion from the above discussion helped ion analyzing the significant outcome, uniqueness, and importance of poultry farming regarding modern day civilization and the uprising demands and change in the trends of the consumers about the consumption of poultry products. References Baruah, Samprity, and Sanju Kynjing. "Backyard poultry farming: a measure to alleviate rural poverty."North-East Veterinarian13.1 (2013): 26-27. Chen, B. "Planning environmental impact assessment methods and practices in livestock and poultry farming." (2012). Damron, W. Stephen.Introduction to animal science: global, biological, social, and industry perspectives. No. SF61. D36 2013. 2013. Maheshwari, Shashank. "Environmental Impacts of Poultry Production."Poultry, Fisheries Wildlife Sciences2013 (2013). Maqbool, A., M. N. Sarwar, and K. Bakhsh. "Modernization of poultry farming."Dawn, Economic and Bussiness Review3 (2015). Pathak, P. K., and B. G. Nath. "Rural poultry farming with improved breed of backyard chicken."Journal of World Poultry Research3 (2013): 24-27. Sankhyan, V., et al. "Analysis of characteristics and improvement strategies of rural poultry farming in north western Himalayan state of Himachal Pradesh, India."Livestock Research for Rural Development25 (2013): 12. Thyagarajan, D., M. Barathi, and R. Sakthivadivu. "Scope of poultry waste utilization."OSR Journal of Agriculture and Veterinary Science6.5 (2013): 29-35. Wang, Hui, Yong-Ku Kong, and Myung-Chul Jung. "Postural evaluation in a poultry farm for broiler chickens."International Journal of Occupational Safety and Ergonomics18.1 (2012): 67-75. Wankhade, P. P., et al. "Rationale Behind Adoption of Agriculture Farming Systems by the Farmers."Indian Res. J. ext. Edu14.3 (2014): 78-82.

George W. Bush During Afghanistan’s War on Terror Political Analysis Based on Donna H. Kerr Essay Example

George W. Bush During Afghanistan’s War on Terror Political Analysis Based on Donna H. Kerr Essay ALFONSO OTERO MIRELES 938394 FOREING POLICY George W. Bush during Afghanistan’s War on Terror POLITICAL ANALYSIS BASED ON DONNA H. KERR The term War on Terror refers to an ongoing, worldwide campaign against terrorism led by the United States and supported by several other countries, most notoriously England and members of NATO. The term was first used under George W. Bush’s administration following the September 11, 2001 attacks against the United States, where 2996 people lost their lives and more than 6000 others were injured. Within months after the 9/11 attacks, the US sent troops to Afghanistan because this was believed to be the operational base for Al-Qaeda, at the same time the US looked to dethrone the Taliban regime and ‘’Bring Democracy’’ to this middle eastern country. Two years after the occupation, and without yet finding Bin Laden, the US embarks in yet another military invasion, this time against Iraq. This War on Terror has been worldwide known as the Bush War, due to his effusive support and controversy. The implementing agent during Afghanistan’s war is without a doubt the Bush administration, they are the ones who started it, developed it and spent the most money on implementing the war. The authorizing agent in this situation would arguably be the United Nations because According to the UN’s rules, The US had to get approval from the UN’s Security Council in order to go ahead with the wars. In the case of Afghanistan, the UN accepted the occupancy, backing up their decision with the consent of most members plus an official report that stated that around 70% of deaths in this country were caused by the Taliban regime. We will write a custom essay sample on George W. Bush During Afghanistan’s War on Terror Political Analysis Based on Donna H. Kerr specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on George W. Bush During Afghanistan’s War on Terror Political Analysis Based on Donna H. Kerr specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on George W. Bush During Afghanistan’s War on Terror Political Analysis Based on Donna H. Kerr specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The Conditional Imperative was the danger that Middle-Eastern Terrorist groups represent for the United States and the world and how nobody, not even the United States was safe from another possible attack. The recurring conditions of post-traumatic fear and terrorism fobia became a part of the everyday life of the average North American; the constant news reports on violence in some Middle Eastern countries was also a condition that needed to be ‘’fixed’’ by the US’s democracy Since its start the United States has maintained itself stable in ll of his policies regarding Afghanistan, they have indeed substituted policies in Iraq (after leaving the country) but as to Afghanistan they have only talked and promised to change it, but up until this day there has been not a notorious substitution of policies. All important declaration were made publicly, virtually everyone in the world was aware of the US’s decision of invading Afghanistan, and most of Bush’s declarations towards the topic. Of course the relevant public in this case would be the US’s government and population, the UK’s government and population and any other country that supported or was against the war, also the United Nations council and of course and Afghanistan’s entire population and ruling powers. GEORGE W. BUSH PERFORMANCE DURING IRAQ’s WAR Bush’s administration decided to go ahead and send troops to Iraq in 2003. With a similar approach as in Afghanistan, the occupation was led by George W. Bush and supported mainly by the UK. The main reasons where the belief that the Iraqi government was harboring weapons of mass destruction and some claims that linked Iraqi officials with terrorist group A-Qaeda. The lack of evidence of this weapons and the high costs of the two wars during times of economic instabilities led to an avalanche of national and international criticism and lack of support for the Bush administration, even though no consistent proof was (or has up to this day) been presented, George W. Bush won the following reelections and the North American troops remained officially in Iraq’s soil until December 2011. The military prescience of the US still remains in Afghanistan up-until this day. Bush’s administration main goals and objectives was primarily finding this infamous Weapons of Mass destruction, hunt down and get rid of all officials linked to Al-Qaeda, this included the nation’s leader Sadaam Hussein, who aside from being accused of crimes against humanity he was also believed to be linked to Al-Qaeda an of course to ‘’Bring Democracy’’ to this country. The UN gave Iraq one last opportunity through the resolution 1441 to come clean about the weapons of mass destruction. Iraq allowed inspectors to go and search for them. The United States blamed Iraq’s government of not being cooperative, and went ahead and used the force even though the resolution didn’t authorize the use of force even if they had been found. This is when he first option for Bush comes, he could’ve easily gone the other way and simply acccept the fact that there may not have been any secret weapons in the first place and not does anything relevant in Iraq, including not removing Sadam Hussein from power. A second option could have been accepting the UN’s statement of not using the force, admitting that there isn’t enough proof of the harboring of weapons but still destitute Hussein from power, and install a US hosted presidency. The third option would be also to dethrone Hussein, stop looking for weapons but stop not installing a US government overseas and simply let the Iraqi people decide for themselves. If Bush simply retracted from all accusations against Iraq, sent the troops back and not do anything against Hussein, there would’ve been an initial reaction of public opinion concerning mainly on Bush’s indecision and lack of consistent information. It would be hard to simply accept they were wrong and just leave. Moneywise, the costs of sending troops would still affect the economy but not as much as it did in reality, of course depending on when the decision would’ve been made. Supposing that Bush had accepted its wrongful information referring weapons of mass destruction, decided to leave the country, but not without restituting Hussein, I guess public opinion would judge this decision harsh, he would still increase public debt paying for the time of the troops in Iraq, but would maintain a high influence on this country by imposing its US funded government. I think in a utopian world, Bush should have gone with decision number 3, which meant the same as option two but without imposing its own ‘’democratic’’ government, this would appear as if the country was acting upon mere sympathy, a situation not common at all when it involves the US and wars. The Iraqi people could choose whatever form of government they wanted, which for me I think it sounds fair, it shouldn’t be up to the superpowers decide who will rule over weaker countries, but on the other hand I would suppose violence would increase, division and the local hunt for power could bring a mess of a consequence. Other countries and organizations including peace corps and the UN could also help out control the mayhem. Many theories surrounding the veracity of this accusations and the lack of overall evidence that backed up the US’s actions led to questioning over the real goals for George W. Bush in Iraq. Public opposition claimed that Bush was looking only in Iraq for oil and more power. Accoring to author John Harold Chapman of UK’s newspaper, the whole purpose behind the war was the hunt for oil and that the economic situation upon which the United States was going through justifies this answer. In his own words: Control over Iraqi oil should improve security of supplies to the US, and possibly the UK, with the development and exploration contracts between Saddam and China, France, India, Indonesia and Russia being set aside in favour of US and possibly British companies. And a US military presence in Iraq is an insurance policy against any extremists in Iran and Saudi Arabia. The prisoners dilemma represent BUSH on one hand with two options, whether to admit the lack of proof refereeing to weapons of mass destructions in Iraq, and on the other hand the percentage of his political party that supports him. Which in a way are pretending not to know about the lack of evidence and in a way ‘’hope for the other prisoner to be quiet. All assumptions are based on the hypothetically situation in which both know the weapons are a lie. 1)In one paragraph, describe and analyze the leader’s use of â€Å"cognitive shortcuts† and experience with â€Å"cognitive dissonance. † For example, the policy and culture of the Bush administration was one of war expansion, regardless of fact. They sought war and when confronted with conflicting evidence and faulty intelligence on Saddam Hussein, they went ahead and invaded anyway. Minimum paragraphs: 1 Minimum sources: 1 (excluding Neack) As to cognitive dissonance and Bush, I would say it’s a trick that he has played to the US government, he can go and invade a foreign country, in the case of Iraq, knowing that there isn’t enough proof to go and invade, both a big number or Iraqui civilians and US soldiers will lose their lives, public debt will increase, the already unstable economy will get directly affected but at the end, he uses this psychological tool to exclude and not metion the downside of going to war and just promising democracy for the needy, a ‘’greater good’’. Hurrican Katrin is also a good example of the hand-picking selection of information provided to the public regarding the delay of the help post-hurricane. Both appointments occurred under President Bush, who in 2001 also appointed two other civilians, James Roche (General Motors) and Thomas E. White (Enron), to head the Air Force and Army. William D. Hartung, Head of the Arms Trade Resource Center, challenged the appointments because he felt it was unethical to appoint businessmenwhose former companies would be the prime beneficiaries of increases in defense spending. Hartung further noted that at no time in recent history had military appointments been made from the civilian sector. With the use of cognitive shortcuts, Bush’s administration has been dealing with the big percentage of public discontent, providing only certain information that could be relevant in some cases, for example during the aftermath of hurricane Katrina, he never gave a real reason why there was a significant delay of help provided by the government, but instead he only focused on informing how much the delayed help forces helped once they arrived there. Iraq would still be the best example, by the big amoung of congnotive shortcuts used to cover the lack of information regarding Al-Qaeda’s connection to Iraq and evidently about the weapons. Comments: Good job, but you missed the Bureaucratic Model section! Some of your bibliography formatting was not correct. Grade: B+ Kerr, D. (1976). The logic of policy and successful policies. Policy Sciences, 7(3), 351-363. Neack, L. (2008). The new foreign policy: Power seeking in a globalized era. (Second ed. . Lanham, MD: Rowman Littlefield Publishers, Inc. Breuning, M. (2007). Foreign policy analysis: A comparative introduction. New York, NY: Palgrave Macmillan. ARTICLE UN – TALIBAN 70% DEATHS http://articles. cnn. com/2011-12-15/middleeast/world_meast_iraq-us-ceremony_1_iraq-war-iraq-body-count-iraqis-struggle? _s=PM:MIDDLEEAST UN RESOLUTION 1441 http://www. undemocracy. com/securitycouncil/meeting_4644#pg010-bk01 JOHN HARROLD CHAPMAN, http://www. guardian. co. uk/world/2004/ jul/28/iraq. usa

How to set up a Hard Drive essays

How to set up a Hard Drive essays To set up a new hard drive, firstly you need to switch off the power supply and then remove the casing. If you were installing a new hard drive you would have to set the primary hard drive as the master and the new hard drive as a slave. To do this you would have to change the jumpers, the jumpers are located on 3 pins, and these pins should be in-between where the power cable goes and the IDE cable goes. To do this properly you would have to refer to the hard drives manual; it all depends on the hard drive itself. When you checked and changed any jumpers, you can start to put the hard drive into the computer system. If the drive bay is actually bigger than the hard drive you would need a drive bracket to hold it in place. Most modern computers have two bays specially designed to hold more than 1 hard drives. When inserting the hard drive, make sure that no wires or cables are sticking out or get caught, also make sure that the hard drive is the right way up (the label should be at the top). When the drive is inserted, secure the drive with screws provided. Now that the drive is in place, it needs to be connected to the rest of the PC. Firstly connect the IDE cable (the long, wide and grey cable) to the hard drive. This cable should already be connected to the existing hard drive, to make sure that the cable is around the right way, there should be a red line running down the side of the cable, this red line should be closest to the power cable. When the IDE cable is connected, the power cable is the next thing to connect, this power cable runs from the main power supply inside the computer and should have four different coloured wires. This cable can only connect one way. Now the new hard drive is connected, the computer now needs to recognise the new hard drive, to make the computer do this, you would need to enter the computers BIOS. To enter the BIOS, usually you need to press DE ...

Contrast Mackays Tulip Bulb story with the US housing market of the Essay

Contrast Mackays Tulip Bulb story with the US housing market of the past 45 years - Essay Example The recent credit crunch bothering the US economy in particular and the world economies in general, unleashed by subprime mortgages amply reveals the susceptibility of markets to speculative fads and misinformed human avarice and greed. In the given context, Mackay's 'Tulip Bulb' story published in his book 'Extraordinary Popular Delusions and the Madness of Crowds' seems to be highly relevant. Infact the given narrative is a crystal clear example of a debilitating dichotomy between the prices of a coveted asset and the market fundamentals (Garber 14). The story is based in the year 1559, when the tulip bulbs became a priced commodity in Holland. Infact tulip bulbs were widely traded in the local market exchanges and the people went to the extent of stretching their speculative propensities far beyond their means and started investing in the tulips bulbs that sometimes fetched a price as high as 2,000 guilders. This obsessive herd mentality was totally oblivious of the pragmatic market realities and was solely driven by mass instinct (Peers 29). Eventually, in February 1637, the tulip bubble busted and brought the Dutch economy down to its knees. The story being discussed certainly draws one's attention to the housing and real state bubble that dominated the US economy in the last five years.

Protection of cultural industries in Europe Essay

Protection of cultural industries in Europe - Essay Example For instance, there is a difference in culture between Eastern and Western Europe; the languages spoken are a variety while there are over five religious groups that are predominant. The continent is actually said to have a fault line in culture in the countries that fall all across the continent of Europe. The industry is also commonly known by the name creative industry. This is a combination of the process of designing, producing, distributing of products either goods or services that have a cultural basis. The services and goods are normally covered by the rights on intellectual property. These industries among others include audio visual, cinema, the music industry and the craft industry. The creative industry is an essential industry in the creation of employment in Europe. It is estimated that an approximate number of 7 million people from Europe earn a living from this industry. The European people are themselves the source of cultural diversity as well as cultural identity. The industry has its basis on knowledge and heavily relies on human labor as well as creativity. The industry is particularly in Europe for fostering creativity and also nurturing innovation among the members of the society. Hennighan, Tom (1996). ... In the recent past, the cultural industry in Europe has incorporated the latest digital technology to enhance the quality of the products and services. In addition, there has been the drawing of policy on regulation of this industry at the international, regional and national levels. The deregulation in the industry has radically changed the context from which the flow of cultural services, goods and investments between countries takes place. The cultural industries have consequently gone through the process of progressive concentration and internalization which has resulted to the creation of just but very few conglomerates that are big .They are part of the global oligopoly. Dorland, Michael (2004). The recent trends in the cultural industry In the recent past, the creative industry has been growing at a very fast pace. Infact, in Europe, it is rated as one of the sectors of the economy with the fastest growth rate. The growth is attributed to the rapid dynamism in technology, growth the economy that is digital, the increased commercializing of all the intellectual property and the union of the media. Dorland, Michael (2004). All these factors and many others have enhanced the production, the distributing as well as the consumption and piracy of the goods and services produced by the cultural industry. The modern digital technology in communication and information sectors have completely lead to the revolutionalizing of this industry by improving the process of production so that it is of more quality, the channel of distributing the produced goods and services, the modes of consumption by the final consumer to he products. The availability of the technology at a low cost has made the diffusion of text, sound and image possible to

Demand And Supply Of Houses And Apartments Economics Essay

Demand And Supply Of Houses And Apartments Economics Essay By considering the factors that affect the demand and supply of houses and apartments explain what has led to the changes in the prices of houses and apartments in the UK over the last three years. What would affect the sizes of different elasticities of demand for houses? Introduction The past couple of years have seen dramatic fluctuations in the demand and supply of houses. It has been observed that movement in house prices is a balance of the quantity demanded and supplied. In this essay, we first look into the factors that affected the prices of houses in UK in the past three years. Then, we will discuss factors that affect the sizes of elasticities of demand of houses. Factors affecting demand of houses The table below shows the various factors that affect demand of houses. Table 1: Factors affecting demand of houses. S. no. Factor Trend Reason Change in the demand curve 1. Affordability As affordability of houses increases, demand for houses increases and vice versa. Because when the price of houses goes down more people can afford to buy houses. Movement along the demand curve. FIG. 1 2. Disposable Income As the disposable income of the people increase the demand for houses increases and vice versa. People tend to buy houses when they have sufficient disposable income with them so that their weekly budget is not affected significantly. Shift in the demand curve. FIG. 2 3. Economic Trends If the economy is booming, then there is a net increase in demand for houses. Similarly, in case of a recession, the demand for houses decreases. A booming economy means a good overall health of the economy which translates into greater demand of all goods. Shift in the demand curve. FIG. 2 4. Supply of substitutes If the supply of substitutes such as rented accommodation decreases, then there is a net increase in demand for houses and vice versa. If the supply of rented accommodation is less, then there is an increase in the price of rented apartments. Therefore, in the long run people find that it is cheaper to buy houses than to live in a rented accommodation. Hence, then they will tend to purchase a house. Thereby, increasing the net demand for houses. Shift in the demand curve. FIG. 2 5. Availability of mortgage finance If the mortgage finance is easily available then this results in a net increase in demand and vice versa. This is because it is easier for people to arrange for money to finance their houses. Shift in the demand curve. FIG. 2 6. Interest rates If the interest rates are high, then there is a net decrease in demand and vice versa. This is because at higher interests rates people will have to shell out more money to repay their loan. As people have a fixed monthly income, a higher interest rate would mean that the loan instalment would form a higher portion of their monthly income. Thereby, decreasing the demand for houses. Shift in the demand curve. FIG. 2 7. Consumer confidence As consumer confidence in the housing market increases, the demand for houses increases and vice versa. If prices of houses are expected to rises then consumers think it is profitable to enter the market. However, if the prices fall or remain static then consumers find no urgency to enter the market. Shift in the demand curve. FIG. 2 8. Demographic factors As increase in immigration, number of divorces, life expectancy, results in an increase in demand for houses. An increase in immigration, number of divorces, life expectancy will result in more people needing independent houses. Shift in the demand curve. FIG. 2 9. Inherited wealth An increase in number of people inheriting a huge wealth would result in an increase in demand of houses. Because these people have more money to spend on luxury products, such as houses. Shift in the demand curve. FIG. 2 10. Tax benefits If people receive greater tax benefits by buying houses, then this would result in a net increase in demand for houses. This is because people prefer to use their hard earned money on themselves rather than paying it to the government. Shift in the demand curve. FIG. 2 Source: Nationwide, Besanko et. al 2007 FIG. 2: Shifting of the demand curve. D D Price P1 Q2 Q1 D D Quantity FIG. 1: Movement along the demand curve. Price P1 P2 Q2 Q1 D D Quantity Factors affecting the supply of houses The table below shows the various factors that affect the supply of houses. Table 2: Factors affecting supply of houses S no. Factors Trend Reason Change in supply curve 1. Price If the price of houses increases then there is an increase in supply of houses and vice versa. Because sellers can then sell houses at higher rates thus making more profit. Movement along the supply curve. 2. Cost of building a house If the cost of building a house increases then there is a net decrease in supply of houses and vice versa. As this would mean a larger initial investment for the builder. Shift in the supply curve. 3. Government regulations If government regulations are inclined towards building/selling of houses then there is a net increase in supply of houses and vice versa. This would mean lower costs from the perspective of a builder/seller, which would result in more building/selling of houses. Shift in the supply curve. Source: Nationwide, Besanko et. al 2007 FIG. 1: Movement along the Supply curve. Price P1 P2 Q2 Q1 S S Quantity FIG. 2: Showing shifting of the supply curve. S S Price P1 Q2 Q1 S S Quantity Factors that have led to changes in the prices of house in UK over the last 3 years Source: Nationwide FIG. 5: Average house rates in UK from 2008 to 2010 During the first half of 2008 there was a 5.1% drop in house prices. With the financial crisis and a looming economic recession this price fall was expected. This was evident from the clear change in the consumers housing market sentiments, with people being more reluctant to buy houses. It should be noted that there is a direct relationship between the demand of houses and the confidence consumers have in the market (See table 1). In addition, factors such as high mortgage rates, tighter lending criteria, and higher interest rates affected the house prices in early 2008. The fall in demand from the buyers was also due to the rise in unemployment and associated job insecurity. Further, the problems in the credit market led to tighter lending conditions which made it difficult to obtain loans at higher loan-to-value ratios. However, these strict rules were predicted to lead to a more stable housing market. FIG. 6: Consumer House Price Expectations and House Purchase Approvals An anomaly in this trend was the slight increase in the prices in June and July 2008. This was probably because the suppliers had responded to price decline by reducing the supply of property. The reduced supply combined with an increased demand from potential buyers, who had been priced out previously, translated into a slight price rise of houses. In addition, the slight increase in prices was because of latent demand for houses. Earlier, due to the banking crisis there was reluctance among buyers to purchase houses. However, once the buyers saw that the government was taking corrective actions to stabilize the banking system, they re-entered the market along with the added assistance of low interest rates. (Nationwide, 2008) However, this was a mere aberration and between August 2008 and March 2009 the house prices fell by 10.1% due to the overall lack of consumer confidence in the economic and market conditions. In addition, there was an additional supply of houses from homeowners, whose financial positions were impacted by higher unemployment and lower income levels. FIG. 7: UK GDP and House Price Growth between 1985 and 2007 With UK slipping into recession, even drastic cuts in interest rates didnt help in increasing the demand for houses. The reduced access to credit resulting from the financial crises catalysed the fall in prices. Then, a combination of initial fall in prices, widespread news of financial turbulence, and slowdown in the real economy prompted consumers to expect further price falls. As consumers expectations turned negative, the incentive to enter the market reduced and this led to a sharp price fall. (Nationwide 2008, 2009) Then in June 2009, the low interest rates and extension of stamp duty holidays were welcomed by borrowers as they reduced the costs of already high priced housing market. Further, notwithstanding the economic downturn, there was a notable shift in house price expectation from negative to positive. These two factors resulted in increasing the demand for houses and thus increasing the price of houses. (Guardian 2009, Nationwide 2009) The second half of 2009 was marked by rebound in house prices. This was contributed by the better than expected performance of the labour market. Even though workers were forced from full-time to part-time work resulting in a reduction in income, the impact was less severe than if they had lost their jobs completely. In addition, reduction in mortgage rates meant that fewer borrowers had fallen into arrears than expected. This led to lesser number of second-hand properties being on sale and thus stabilizing the housing markets. (Nationwide 2009) The first half of 2010 also saw a 4.1% rise in prices of houses. An important factor of price rise during this period was the low level of stock for sale as many homeowners and buy-to-let landlords preferred to wait for prices to rise. And this approach was supported by the very low levels of interest rates. As a result, many potential sellers could easily afford to wait for prices to recover further before they decided to sell. Between July and October, there was a fall in the prices of houses. The impact of increasing capital gains tax from 18% to 28% was seen in the housing market, with many second homeowners choosing to sell them in response to the tax increase. Further, the spending cuts by the new government had clearly put a pressure on the disposable incomes of households. As a result there was a decrease in the prices of houses during this period. (Nationwide 2010) Factors that affect the sizes of different elasticities of demand for houses The responsiveness of the quantity of houses demanded to the change in prices, income, price of other goods, etc. is measured by the corresponding elasticities, i.e., Price elasticity of demand of houses, Income elasticity of demand of houses, or Cross prices elasticity of demand of houses. Factors that affect the sizes of different elasticities are as follows: Availability of substitutes: It is observed that more the number of substitutes, more elastic the demand will be. If the availability of rented accommodations is high, then a slight price rise will result in a large change in demand for houses because people will prefer to live in a rented apartment than to buy a house. Therefore, making the demand for houses elastic. On the other hand, if availability of rented accommodations is low, then even a large change in price would not affect the demand because everyone needs a place to live. Therefore, the demand for houses will be inelastic. Importance of the good in the consumers budget: Expenditure on housing, according to R.K. Wilkinson (1973), is an outcome of three sets of influences on the consumer, i.e., their needs, their aspirations, and their ability to realize their needs and aspirations. The latter is measured by the consumers income and the two former qualify the way in which income and changes in income affects housing expenditure. If there is a need for a house and consumers have the ability to realize that need, then the demand of houses would be inelastic. In contrast, if there is no real need and an aspiration to buy a (bigger) house combined with no real income to realize that aspiration, then the demand for houses will be highly elastic. Time: It was observed by Hanushek and Quigley (1980) that the demand for houses is elastic in the short-run. However, in the long-run the demand tended to be inelastic. This was because higher prices dissuade buyers to buy houses in the short-run. However, in the long-run he may realize that the price of houses will rise and thus he finds it better to buy a house. Conclusion In this essay we determined the factors that affected the prices of houses in UK during the last three years and the various factors that affect the elasticities of demand of houses. Based on the above discussion, I think consumer expectation of house prices is one of the most important drivers of prices in the short-run. As for the long-run, the drivers of house prices are the economic conditions, the fiscal policies, and supply of houses.