Monday, April 20, 2020
The International Monetary Fund and the World Bank
Abstract The International Monetary Fund (IMF) and the World Bank are international organisations created to provide financial aid, and enhance the structures of international payment systems in the world markets. In the year 1944, the two organisations began their operation following the signing of the Articles of Agreement by the member states. During its inception period, the IMF consisted of 45 members.Advertising We will write a custom essay sample on The International Monetary Fund and the World Bank specifically for you for only $16.05 $11/page Learn More The two institutions share similar attributes in that they were created at the same time, are based in the US, and have analogous Articles of Agreement. However, the major distinction between the two institutions is that the World Bank is largely owned by the American citizens, while the IMF is largely owned by the European citizens. According to the economists, the two organisations have great i nfluence on global economic policies and strategies. Their authority over economic policies has contributed to the strengthening of the macroeconomic frameworks, reduction in sector deficits, and decline in public debt accumulations among the member states. Contrary to what economists assert, sceptics believe that the two international organisations have acted beyond the powers given to them in their Articles of Agreement (Antonio 34). Over time, the World Bank and the IMF have redefined their mandates as financial institutions. On this background, this article seeks to explore the validity of these criticisms by analysing the policies and actions of the two organisations. Background World Bank Before a country becomes a member of the World Bank, it must subscribe to the bankââ¬â¢s shares. Over time, the bank has majored on loan operations. Loans are awarded to banks, public institutions, and private organisations within their member statesââ¬â¢ jurisdictions. In case a borrow er is from a non-member state, the borrowerââ¬â¢s loan needs to be guaranteed by a member state. In accordance with the banks Articles of Agreement, all lending operations should be preceded by a guarantee agreement from member states. Before the year 1968, the bank was actively engaged in lending loans geared towards project developments. However, when the Basic Needs approach was adopted, under the leadership of Robert McNamara, the bank focused its operation on tackling poverty in the developing countries. Similarly, the bank started to offer assistance in development projects in developing countries by overseeing Structural Adjustment Loan (SAL) programs (SuvediÃâ 78).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Through these programs, the bank aims to change the national economic policies among the member states. After the arrangement of the SAL, funds are distributed in a sy stematic manner over time according to the countryââ¬â¢s ability to push for changes in specific policy areas. Notably, the bank needs their member states to change their economic policies in line with their requirements. This condition requires member states to reform their industrial, agricultural, financial, export and import policies. Through these measures, the countries have to share and sometimes relinquish their economic decisions to the World Bank. By doing so, the World Bank has interfered with the member statesââ¬â¢ sovereignty contrary to the Articles of Agreement. Similarly, by interfering with its member state public administration apparatus, labour regulations, and public investment policies, the bank has acted beyond the powers given to them in their Articles of Agreement by compromising on the member stateââ¬â¢s sovereignty. IMF The IMF allows its member states to contribute to the bankââ¬â¢s deposits. Through this contribution, each member state earns i nterest, quota, depending on its economy. According to the IMF regulations, the quotas consist of five tranches accessed in times of financial need. The member states have automatic access over one of the five tranches. However, other tranches are accessed under certain conditions and arrangements. Among these arrangements are Stand-By Arrangements, Poverty Reduction Arrangements, Growth Facility Arrangements, and Extended Fund Facility Arrangements. These arrangements and conditions were incorporated to ensure that the bank resources meet the member statesââ¬â¢ goals of resolving balance of payment challenges in accordance with the banks Articles of Agreement. Under these conditions, the bank can only disburse its money to the borrower on a piecemeal basis. Similarly, the loans can be accredited when the borrowing state meets certain economic and financial policies required by the bank. Through these acts, critics argue that international organisations have not only interfered w ith the member states sovereignty but also limited their ability to create their own economic and financial policies. Criticisms Following the current state of the world economy, the two institutions have been heavily criticised for the ever-increasing gap between the poor nations and the rich nations. Critics argue that the two organisations have acted beyond the powers given to them in their Articles of Agreement. Currently, more than 400 organisations and NGOs have ganged up to call for the restriction and regulation of the two institutions (Lowenfeld 23).Advertising We will write a custom essay sample on The International Monetary Fund and the World Bank specifically for you for only $16.05 $11/page Learn More According to these groups, the two institutions lack the expertise to tackle social and environmental challenges affecting each specific country. As such, the organisations should formulate specific policies and measures to be used in each cou ntry. In addition, these groups argue that the IMF has only focused on rectifying short-term balances of payment challenges damaging the social fabric of several countries, rather than helping them as the Articles of Agreement assert. Globally, it is widely argued that the two international banksââ¬â¢ policies have worsened the global economic and financial situations. According to critics, the organisationsââ¬â¢ policies have not only failed, but also worsened the economic conditions in the borrowing countries. A similar criticism claims that even in countries where the two organisations have led to the enhancement in macro-economic indicators, social disparities have been eminent. Notably the use of one-size-fits all approach and restrictions of government involvements in their policies have resulted in a vicious cycle of stagnation. These approaches have seen the debtor countries reduce the public expenditure in several sectors including health, education, and other social services. In the recent past, more debtors have had to privatise their state firms, limit credit lending, and reform their tax policies to meet the requirements stipulated by the two organisations (Schrijver 56). Through these measures, the organisations have triggered conflicts in some nations. For instance, in the year 2000, the World Bank forced the Bolivian government to privatize its water service system. They had to abide by the World Bankââ¬â¢s directive to qualify for the 25 million US dollars they had requested for from the institution. Through this move, the government of Bolivia had to reorganise its resource management systems to suit the foreign interests rather than the countryââ¬â¢s interests. These initiatives later sparked numerous protests and demonstrations from the countryââ¬â¢s citizens. On the other hand, critics have criticised the two organisations for their lack of transparency and democracy in their affairs. Though the institutions claim that they are transparent, their hypocrisy is evidenced every time they carry out their activities in seclusion.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Critics argue that the organisations should exercise transparent governance because as they require from their debtors. The IMF has been heavily criticised by sceptics for its lack of transparency in most of its acts. Sceptics argue that before IMF enters into an agreement with any country, they already have decided on the policy proposals thus limiting the countryââ¬â¢s ability to adjust on these proposals. Through these acts, the IMF does not only contradict its governance procedures as stipulated in the Articles of Agreement, but also perpetuates unresponsive policies leading to severe economic condition in debtor countries (Qureshi 67). Criticisms on the democratic deficit bases their principles on the fact that the funds lend from these institutions are provided by the G-7 member states. According to the critics, it is wrong for the two institutions to impose inappropriate policies on countries that have no ability to contribute to the decision processes in the two organisat ions. Similarly, the restrictions of the debtor countriesââ¬â¢ participation in decision-making processes amount to violation of their rights to govern their country directly and indirectly. In addition, the citizens of the debtor countries have limited mechanisms to force the two organisations to be accountable in their acts. Analysis The World Bankââ¬â¢s and the IMFââ¬â¢s articles of the agreement are clearly outlined, and any acts by these organisations not covered in the Articles of Agreement are considered ultra vires. Thus, the functions of the two institutions must be in accordance with the Articles of Agreement. In the recent past, the two organisations have been heavily criticised for interfering with political and social affairs of their member states. According to article 10, of the World Bank Articles of Agreement, the bank and its personnel are prohibited from interfering with political affairs of their member states (Simon Bryan 34). As such, the articles ass ert that political individuals in the member state should not influence the bankââ¬â¢s decision. This implies that the bank should focus on economic affairs rather than political affairs of member states when formulating their policies. As emphasised in their Articles of Agreement, the bank should uphold the political sovereignty of its member states. Similarly, the IMFââ¬â¢s Articles of Agreement prohibit the organisation from participating in political interference among the member states. From the stipulations outlined above, it is apparent that the international lending institutions embrace the same view on political actions in member states. Contrary to this rule, these organisations are accused to be working under the preference of the United States and other industrialized countries. These countries are alleged to be providing structural constraints within which the IMF and the World Bank work. Beyond these constraints set by the industrialised nations, activities of th e IMF and the World Bank are subjective to professional economists whose intentions are in accordance with particular institutional environments. Owing to this, the IMF and the World Bank prescriptions have been accused of aiding political pressures and institutional constraints from their stakeholdersââ¬â¢ countries. Since their inceptions, corruption has been a great concern for the two organisations. The organisation has condemned on the vice recognising as a major challenge in the developing countries. In the affected countries, corruption has drained their national resources and negatively affected their economy. The organisations have been advocating for the formation of anticorruption bodies in the affected member states to thwart the practice. Challenges arise when the affected member state borrows money from the international organisations. According to their Articles of Agreements, the institutions are supposed to ensure that the money borrowed is used in the intended p urpose. In this regard, the organisations cannot separate themselves from the issues of corruption in the affected countries. However, their involvements must be in accordance with the Articles of Agreement. Through this, they are required to advise, encourage, and support the affected countries in fighting corruption only without being involved in their political affairs. However, over the years, the World Bank and the IMF have formulated policies that have deprived the lawfully governmentsââ¬â¢ abilities to create their own economic policies and programs. Though the two organisations have refuted the claims, these acts are eminent from the way they distribute their loans to various governments. Several literatures have focused on how the IMF and World Bank have trampled on the national sovereignty of its member states. These literatures assert that the institutions have compromised on the national sovereignty of the member states through imposing conditionality on their loans. Remarkably, international organisations including the World Bank and the IMF have imposed western cultural values on emerging economies disregarding on their autonomy. According to Graham Bird, when countries turn to IMF for fiscal assistance they have to aware that they are losing their national sovereignty over economic policy to the institution. Another writer, Catherine H. Lee, believes that the IMF and the World Bank have greatly interfered with the internal affairs of developing member states. Thus, it is a fact that the two international organisations are interfering with the political affairs of their member states indirectly through their conditionality arrangement. By doing so, criticsââ¬â¢ allegations that the organisations are acting contrary to the powers bestowed to them by the Articles of Agreement are confirmed. Over the last decade, the two organisations have evolved immensely astonishing the critics and their founders. Their expansion has come to be referred to as economic creep by the sceptics. Between the two organisations, the IMF has been greatly criticised due to its dramatic expansion. During its inception, the IMF was only mandated to provide fiscal assistance and assist countries manage their balance of payment challenges. However, over time the institution has expanded its boundaries to include development and poverty eradication programs. Through these initiatives, the IMF has acted contrary to its Articles of Agreement since these acts were not envisioned in the original articles. Those against this move argue that it is illegal for the institution to engage itself in activities meant for other organs of the UN agencies. Through these changes, conditionality measures have been introduced. Over time, these conditionality measures have expanded to oversee adjustment of national currencies. In the recent past, the measures have expanded to include trade liberalization, bankruptcy legislation, poverty eradication measures, anti terr orism measures, and bankruptcy legislations. IMF and ultra vires acts Through their massive expansion, the IMF has been accused of overstepping its mandate outlined in the Articles of Agreement. The IMF has compromised its original mandate of facilitating payment adjustments through these dramatic expansions. If the organisation had stuck to its original mandate, it could have generated little business. However, by redefining its roles to meet with the current economic challenges, the institution has had to deal with issues tackled by the multilateral development banks leading to the conflict of interests. For instance, the IMFââ¬â¢s shift to finance the long-term balance of payment had long been initiated by the World Bank. The World Bank had tried to tackle the issue before they changed their mandate to finance projects aimed at eradicating poverty. Equally, the IMF has overstepped its mandate by availing its funds to all developing countries. As stated in the Articles of Agree ment, the IMFââ¬â¢s balance of payment support is limited to low income developing countries. Through these acts, the IMF has denied some countries with chronic payments deficits chances to revive their situations. In its attempt to enhance the development and poverty alleviation programs in the developing countries, IMF strategies and structural conditionality have covered all areas related to development policy. Through this act, the organisation has not only acted contrary to the Articles of Agreement, but also created numerous problems in development policy. It is alleged that the institution is not competent to tackle such complex issues. Those opposed to this move argue that there are serious risks in relinquishing development matters to international organisations mandated to tackle short-term financial challenges. It is a fact that the IMFââ¬â¢s involvement in poverty reduction programs may yield fruits; however, this does not imply that that the organisation is acting in accordance with the Articles of Agreement by working in such areas. The IMF should realise that there are other recognised institutions, with expertise and resources, mandated to work in such areas. In this regard, the IMF should stop with immediate effect duplicating other institutional projects, and rather cooperate and coordinate development projects directed by these institutions. The IMF and the World Bank have refuted claims that they are duplicating their functions. The two organisations argue that they are closely working together to coordinate their programs and to minimise overlap. However, reality indicates that indeed the two organisations are duplicating their roles contrary to their Articles of Agreement. Through these acts, opponents have called the two organisations to merge their roles. Similarly, the two organisations leadership has been accused of being undemocratic. The voting rights in the two institutions are not allocated on the principles of democracy. As such, most of their votes are allocated to wealthy industrialized nations. This implies that the more money a country has the more votes they earn from the two organisations. Allegations against the IMF in Asia In Asia, IMFââ¬â¢s and the World Bank strategies in the past have conflicted with their Articles of Agreement. During the Asian crisis, Indonesia was adversely affected by the economic challenges due to poor policies and strategies, which were implemented by the IMF to reverse on the situation. During this period, 1997 to 1998, the Indonesian currency lost its value by 83% owing to forceful interactions of politics and economics policies. As a result, Indonesiaââ¬â¢s economic imbalances were rated among the worst in Asia. In their attempt to reverse on these situations, the IMF had to step in and help the country from further economic plunders. Through this, the IMF advised the Indonesian government to reduce on their expenditure, cut down expenditure on social service s, privatise its state firms, and adopt appropriate fiscal policies. Before the country could be funded, to bail its state institution out of the fiscal challenges, they had to meet IMFââ¬â¢s conditions. Later on the IMFââ¬â¢s program in the country led to several problems. The structure of the program adopted was so complex that the country could not incorporate. Similarly, the provisions provided by the IMF strained the Indonesian governmentââ¬â¢s ability to ease its social pressures. On the other hand, restructuring led to a rapid decline in the economyââ¬â¢s expansion raising the level of public frustration. During the crisis, the Indonesian market confidence was greatly affected by the financial catastrophe. Under the IMFââ¬â¢s program, the country was prohibited from bailing out banks and private companies that succumbed to the crisis. As a result, Indonesian businesses suffered. Later on when the government implemented tight monetary policies under directives f rom the IMF and the World Bank, the country witnessed the closure of several unprofitable banks, reduction in budgetary spending, and the failure of extended companies. Because of these, the IMF realised that their acts were going to trigger social tension. To prevent such occurrence, the IMF approved that under no circumstances could the elites be exempted from the sternness. Through this move, the IMF moved in to fight corruption to restore market confidence in the country. Critics argue that the IMF and the World Bank initiatives during the crisis were out of their power as stated out in their Articles of Agreement. The IMFââ¬â¢s structural reforms in the short term had negative implications on the countryââ¬â¢s economy. As such, when Indonesia adopted these structural reforms in accordance with the IMFââ¬â¢s directive, they increased their countryââ¬â¢s future indebtedness. Economists assert that if the country could have used $10 billion IMF standby finance during t he crisis, the countryââ¬â¢s debt stock could have increased by 70%. According to the economists, these figures could have been extremely high, and could have led to further economic crises such as defaults in the long-term foreign debt payment. Another challenge experienced in Indonesia during the crises was that the public was under-informed on the roles of the IMF during the crises. According to economic analysts, the challenges in Asia at the time were unique. In this respect, the analyst believed that the IMF deployed the wrong policies and strategies worsening the situation. This implies that, the budget cutting, credit tightening and emergency bank closures were inappropriate. Therefore, the banking sector should have been strengthened by the government and the IMF rather than enhancing their hasty closures. Through this, the IMF and the Indonesian government should have advised the weaker banks to merge with the stronger banks and encourage them to raise their capital bas es. Economic crisis in Russia The Russian economic crises of the year 1988 proved that international lending organisations interfere with economic, social, and political activities of their member states. By examining, the IMFââ¬â¢s involvement in Russia for the last decade, we can affirm this allegation. The institution has not only interfered with the countryââ¬â¢s political structures, but also objected the second phase of reforms desired by the Russian citizens. From the beginning of their involvement in Russia, the IMFââ¬â¢s interests were driven by the western interest and aspirations in the region. As such, the institution was not competent to tackle the issues faced by the Russians during the economic crisis. It is alleged that the institution was largely preferred over the EU since it solved the countryââ¬â¢s crisis in accordance to the USââ¬â¢ wishes. At the same time, the US interest in the region promoted its overall rating. Similarly, by engaging itself i n the Russian economic crisis, the IMF saw this as an opportunity to take a lead in policy alteration economies. Before the crisis, the institution was actively engaged in tackling balance of payment challenges in member states. Based on these allegations, the IMF overstepped its mandate right from the time it began its involvements in Russia. As stated above, several challenges emerged from the institutions involvements in the country. During this period, the IMF had little experience of tackling long-term economic issues since this mandate was not stipulated in their Articles of Agreement. In this regard, the institution was not competent enough to enhance the countryââ¬â¢s transition from communism to capitalism. When Russian government was faced with an economic crisis in the late 1980s, they applied for membership in the IMF. Its membership was fully granted in the year 1992. Following this, the institution funded the countryââ¬â¢s government in two phases before stopping . Critics assert that although the IMF allowed the country to become part of its members, the institution was slow in responding to the countryââ¬â¢s needs. According to the critics, the slowness to respond implied that the organisation was acting under the policies and interests of the Western countries who are the major shareholders. Through this act, the IMF acted above its powers stipulated in the Articles of Agreement by being influenced by political interests. Similarly, the institution is criticised for its steps in advising the Russian government to liberalise their markets and privatise their state firms contrary to the Russians wishes. Through this move, several protests and demonstrations were witnessed through Russia. Similarly, the Russian parliament was involved in objecting the governmentââ¬â¢s directive. According to the demonstrators, the government had made a wrong decision by accepting foreign assistance in the management of their economic crisis. Those oppo sed to the move were fully aware that international organisation participations in their country would compromise on their national sovereignty. Allegations against the World Bank Having been in the lending business for more than five decades, the World Bank is a major lending institution in its field. The bank provides more than $20 billion annually to its borrowers. Its stakeholders through a board of directors control the bank. During its inception, the bank was mandated to alleviate poverty through funding long-term development projects. Over time, the bank has expanded its roles and become more bureaucratic, more inwardly focused, and more averse to criticisms. Through this initiative, the bank has fostered a lending culture disregarding the risks of failure. Similarly, its management team has lied to the public on its lending operations, fostering an illusion that the institution is aimed at enhancing world developments. Because of these, the sceptics have condemned the World Bank for acting above its mandate. Although the organisation management teams are responsible for the bankââ¬â¢s success, they develop and implement economic policies as they are pleased disregarding the Articles of Agreement. It is alleged that the bankââ¬â¢s management teams are the gods of lending. This implies that they have disregarded the terms stated out in the article of agreement by leading the bank to perform its unintended missions and ignoring their professional obligations. Similarly, it is alleged that the bank is cooperating with some of the third world government officials to fund white elephant projects contrary to the best interest of the citizens in these developing nations. Critics argue that the bank pretends to be lending their funds for noble initiatives in the third world countries, while the borrowers pretend they will put the funds in the noble initiatives. Through these illegal acts, some of the bankââ¬â¢s staff and borrowersââ¬â¢ leaders have been able to serve their own interests at the expense of the poverty-stricken citizens. Notably, the World Bankââ¬â¢s initiatives relating to governance and anticorruption have attracted numerous criticisms. In the late 1990s, the World Bank and the IMF activities in the developing world were being faced with numerous challenges owing to rampant cases of corruption in the countries. After decades of lending, the bank realized that the borrowers were losing their borrowed money through corruption. The bank attempted to stop the prevalence of corruption through investigations, identification, and exposure of fraud committed against Bank projects. Through these acts, it depicted an appropriate step towards fostering accountability and transparency in their projects, which was against the provision stipulated in their Articles of Agreement. After a futile attempt to stop corruption cases, the World Bank management later realised that they had overstepped their mandate, something that the critics could use against them, the bank changed its focus on fighting corruption. The bank then shifted from exposing corruption to studying it. Critics argue that the shift of focus has worked well, in that it has allowed them to claim leadership in fighting corruption whilst authorising them to continue funding the corrupt governments. Through these acts, it is clear that the World Bank and the corrupt governments continue to plunder billions of dollars through white elephant projects each year. Although the World Bank claims that it is making positive steps towards ensuring that their funds meets the intended purposes, they should realise that the gap between the poor and the rich in the developing countries has been on the increase. By acknowledging this fact, the World Bank should similarly acknowledge that by the institution acting beyond the powers outlined in its Articles of Agreement has aggravated the situation. Similarly, the World Bank should acknowledge this alleg ation by lending less and supervising more. Through this, it should employ all the possible powers outlined in the Articles of Agreement to investigate, prosecute, and punish corrupt staff members who are colluding with the corrupt governments for their own selfish interests. The bankââ¬â¢s claim that poor governance and corruption are the major obstacles to economic growth has resulted in numerous disagreements between the accused governments and the organisation. Developing countries insist that the bankââ¬â¢s effort to stem out corruption and promote good governance within their territories is beyond the powers given to them in their Articles of Agreement. Despite the fact that these governmentsââ¬â¢ claims are true, they should realise that the bankââ¬â¢s funds are meant to uplift the livelihoods of their citizens, and not to benefit some few elites in their respective governments. Despite the criticsââ¬â¢ allegations, legal writers argue that through the acts des cribed above the World Bank and the IMF acted within their legal mandate. According to these scholars, the decision organs of international organisations such as the World Bank have exclusive rights to interpret the article of agreements. By doing so, international institutions are mandated by the provisions to commit illegal acts. With respect to these legal expertsââ¬â¢ concept, the doctrine of ultra vires is not applicable to international organisations, and that their activities and decisions are always legal and valid. The Articles of Agreements of both organisations have clear procedures to be followed in determining whether an individual or the executive board members exceeded their powers in interpreting the provisions. Through this, the IMF and the World Bank have argued that their acts of expanding the organisations mandates were justified within their Articles of Agreement. The organisations assert that the expansion of their institutions has taken place in accordance with article IV consultations. For instance, before the collapse of the par value system the IMF was largely involved in the macroeconomic issues. After the collapse of this system, the IMF became involved in the microeconomic issues. The organisations argue that it was within its mandate to change its roles as the article of agreements allows the organisation to tackle payment deficits and to assist countries with balance of payment issues. Conclusion In conclusion, we should note that the World Bank and the International Monetary Fund were created as specialized agencies of the United Nations during the World War II. According to their Articles of Agreement, the two institutions function under the directions of the Economic and Social Council (ECOSOC). Sceptics argue that the two organisations are not functioning in compliance with the ECOSOC directives. If the two organisations could work under the General Assembly directives, they could not only be more accountable, but also con centrate more on both social issues and banking interests. Informal surveys indicate that the top officials in these organisations are unaccountable to their member states. According to these surveys, most individuals are not only unaware of the existence of the two organisations, but also unaware of their functions. The organisations spend huge sums of their resources in propaganda that portrays them as institutions aimed at steering acts and policies geared towards enhancing economic development. However, in the recent years the two organisations have been under heavy criticisms for acting beyond their Articles of Agreements. Notably, academics and NGOs have alleged that the two organisations represent the interest of the transnational corporations and banks that provide them with most of their capital. As such, individuals mandated to create policies in these organisations operate under the influence of first world bankers and third world elites. This implies that the poor, who a re the majority, are shielded from presenting their policies and evaluations. In this regard, this article concludes that the two organisations are reinforcing poverty rather than reducing it. According to their Articles of Agreements, the two organisations should encourage private corporations to invest in the developing countries in order to spur economic growth in these countries. Instead, the organisations have focused on increasing profits for their shareholders at the expense of the poor in the developing countries. Similarly, by allocating huge sums of money in the hands of some few elites in the developing countries, the IMF and the World Bank have equipped these few individuals with resources enabling them to hang on to power and resist social pressures (Weiss Friedl 7). Works Cited Antonio Cassese. International law. Oxford: Oxford University Press, 2004. Print. Lowenfeld, Andreas F. International economic law. Oxford: Oxford University Press, 2002. Print. Qureshi, Asif H .. Perspectives in international economic law. London: Kluwer Law International, 2002. Print. Schrijver, Nico. Sovereignty over natural resources: balancing rights and duties. Cambridge: Cambridge University Press, 1997. Print. Simon, Lester and Bryan Mercurio. World trade law: text, materials, and commentary. Oxford: Hart, 2008. Print. SuvediÃâ, SuÃâryaprasaÃâda. International investment law: reconciling policy and principle. Oxford: Hart, 2008. Print. Weiss L, and Friedl. International economic law with a human face. The Hague: Kluwer Law International, 1998. Print. This essay on The International Monetary Fund and the World Bank was written and submitted by user Trey Love to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Wednesday, April 15, 2020
Global Health Essay Sample
Global Health Essay SampleA global health essay sample presents the reader with a variety of topics, and it can be hard to sift through the various options available. Global health is similar to the health industry as a whole, but the scope of the health industry has expanded considerably over the last decade, thanks to advances in medicine and science.One thing to look for in a global health essay sample is information on how to adapt to new technologies. Technology has created a wide variety of new applications, including mobile phones, digital cameras, radio, and even video game consoles. It is important to understand how to incorporate this new technology into any business operations or plans.There are other things to look for in a global health essay sample. Global health writers need to have a great deal of experience writing about various health issues. You should also check to see that the writer has had some success writing for a variety of health issues, including breast ca ncer, the flu, respiratory illnesses, diabetes, and other diseases. Check with employers as well to see if they require experience in writing about a particular disease.Another thing to look for in a global health essay sample is contact information, like an email address and physical address. You will also want to see that the writers have at least a bachelor's degree in any type of business. You may also want to check to see that he or she has experience writing about health in some type of a medical journal or publication.Another thing to look for in a global health essay sample is information on how the writer was trained. A recent graduate of a degree program for this sort of career would be a better choice. Look for examples of writing that is specific to this field. A former boss would be another good source of information, and the writer should have written extensively on a specific topic.The personal story of the writer should be emphasized, as the personal side of this fie ld is very important. A good example would be 'A mother who has experienced the difficult transition from a previous job as a nurse to a global health perspective.' That personal story should also reflect on the life of the writer and what he or she has gained from the experience.Finally, the global health essay sample should be able to tie in a variety of themes, such as politics, social issues, and ethics. Writing these types of essays should be an easy task for a professional writer. A good writer should also have access to knowledge about the world and technology, so that he or she could write about issues related to advanced medicine and scientific research.A global health essay sample presents you with many different things to consider when you are writing your essay. Take your time and carefully analyze all of the various options before deciding which one is right for you.
Sunday, March 15, 2020
Heart Of Darkness Essays - Fiction, Literature, Congo Free State
Heart Of Darkness Essays - Fiction, Literature, Congo Free State Heart Of Darkness The contrast between Kurtz's intended and black mistress The Heart of Darkness is a story about a man telling a tale of an adventure that he had on the Congo River. During this adventure he meets a guy named Kurtz. Kurtz was congregating with a tribe of people who worshiped him and did what ever he told them to do. Kurtz was a very special person in the way he influenced the feelings of two very different, but somewhat similar women. Among this tribe of savages was a woman that was said to have been Kurtz's mistress. Back home he had a woman who he was supposed to marry. Kurtz's black mistress and intended were two very different people, from different places, who shared the same devotion towards him even though there were many obstacles in the way of their love. Kurtz's intended was from the city and was well off with money. Kurtz's black mistress was in a tribe of savages in Africa. She to was well off in her possessions. You could tell she was well off or important in the things she wore and the way that Marlow described the way she carried herself and the way the other members of the tribe watched what ever she did. In the city the intended's family labeled Kurtz as being not good enough. Marlow says that it was because, he was not rich enough or something. (p.249) This is ironic because his black mistress' tribe or family treats him like a god. Both women felt the same undying devotion to Kurtz. When Kurtz was being taken away by Marlow on his ship the tribe came running and hollering trying to get him back. The woman even entered the water with her arms stretched towards the boat. Marlow blew the whistle to scare away the tribe. This worked and even made the ones closest to the shore fall down flat on their face as if they were dead. The whistle did nothing to the woman and she remained in the water with her arms out. The whistle did not scare the woman like it did the rest of the tribe because she was devoted to Kurtz and wanted to be with him. Kurtz intended shared the same devotion towards him as the black tribal woman did. Marlow went to see her, a year after the death of Kurtz, and she was still in mourning. The woman accepted Marlow into her home because he was a friend of Kurtz. She was glad he had visited, so she would have someone to talk to about him. She talked of how she loved him and of how he needed her. They talked of when he died and she got upset. She said, And I was not with him.(p.251) She said she would have treasured everything he did and said. Marlow tells her that he was with him till the end and that he heard his last words. She wanted to know what they were and said, Repeat themI want-I want-something-something-to-to live with.(p.251) She says this so Marlow will tell her his last words. He tells her that his last words were her name. This makes her feel good and at the same time makes her weep in her hands. Kurtz played an important role in the lives of both women and had a tremendous impact on the way they loved him. Both women were very different and at the same time very similar in the way they loved Kurtz. Both went through very tramadic experiences to show their undying love for him.
Friday, February 28, 2020
Family Observation Assignment Essay Example | Topics and Well Written Essays - 1000 words
Family Observation Assignment - Essay Example The two biggest antagonist in the movie Jackie and Isabel have nothing in common and their relationship is characterized by suspicion and contempt. As a result of the friction, Jackie husband occasionally gets a lashing from his wife who believes that Isabel wants to benefit from even though she (Jackie) has struggled hard to make their family compact. The relationship among the adults (Jackie, Luke and Isabel) in the movie is brought to light. There are many instances of bickering because Jackie occasionally confronts her husband who seems to like Isabel. The communications that the adults have in the beginning of the movie is full of resentment and, sometimes, lies. For example there is an instance when Isabel brings a dog in the family house but Jackie tells her that she is allergic to dogs. Once Isabel is not in the scene she (Jackie) takes the dog into the house; this shows that she lied about her allergic reactions. Similarly there is another instance when one of the children, ben gets lost under the watch of Isabel. Jackie is furious and reprimands Isabela and says that he has never gotten lost under her watch. It later emerges that that statement was false since she too had lost Ben at some point. Jackie and her husband also have constant arguments in the course of the conversation. Most of the times the reason for bickering is over how to manage Isabel as well as the children. Jackie gets furious in most cases while speaking to the adults because she feels they do not do enough to care for the children. Jackie is often over bearing because she is too protective of her children. On one hand she loves them very much and would love them to have a good life once she dies while on the other hand she does not want them to be spoilt by the future step mother (Isabel). Essentially the story revolves around two women (Jackie and Isabel) both who mean well but do not seem to have a good way to forge a good relationship. They compete in any
Wednesday, February 12, 2020
Book Report on Playing the Enemy by John Carlin Essay
Book Report on Playing the Enemy by John Carlin - Essay Example Uniting the blacks and whites in South Africa was considered a lost cause by many people, because the divide did not only center on colour, but culture as well. The whites had a more Western-influenced culture than the blacks who clearly embraced their traditional African roots. This was the challenge that Nelson Mandela, a black South African president faced. But he, being a man who rarely gave up, knew that if there was a God in heaven, then there was hope for unity, no matter how tall the obstacle is. With this, he took upon himself to find a way to unite the two camps of humanity that shared the same land. For he too believed that, as long as we both live in the same land, ââ¬Å"your freedom and mine cannot be separatedâ⬠(Carlin, 2008, 23). The book reveals that Nelson Mandela decided to make his move in a rugby game because rugby was one of the favourite recreational sports for the white South Africans. It was a sport the blacks did not take much part in, for they deemed it a white-manââ¬â¢s game. But despite this, there is some influence that sports can exert to people. It has the ability to make friends out of enemies, because it helps them come together to cheer for a common interest. Carlin (2008, Page 163) showed belief in the power of sport when he mentioned Mandelaââ¬â¢s statement, ââ¬Å"let us use sport for the purpose of nation-building and promoting all the ideas which we think will lead to peace and stability in our countryâ⬠. The team in focus were the Springboks, the then national rugby team of South Africa. A significant number of people can be found who believe that, that team was one of the best rugby teams the nation ever had. But though it represented the nation, it was entirely composed of white men, and as expected, the audience was mostly whites. Strangely, Mandela saw this as a ripe field to promote his agenda. But this was no walk in the park for the great man. He would have to gather all the charm and charisma he had amassed during his 50 years of activism, and his strategy demanded a cause all South Africans could support. His strategy was pure genius. He agreed to host the 1995 rugby world cup games in South Africa. In addition to this he endeavoured to inspire the black South Africans to develop an interest for the sport. Although not fully successful in this endeavour, he managed to get enough blacks onto his bandwagon to ensure that his plan would work out smoothly. For the Springboks, they were facing one of the giants of the sport, the gargantuan New Zealand All Blacks, a team whose unparalleled success and discipline spoke for itself. This was no easy game for the Springboks and they knew it very well. Their chances of winning were small, but greater still, their chances of winning the hearts of their black countrymen were much smaller. Carlin specified some prominent men that contributed in making that day eventful. The first individual is Francois Pienaar the six foot Captain of th e Springboks. The other one is, Linga Moonsamy, Mandelaââ¬â¢s top bodyguard on that day. Other prominent figures are, Niel Barnard, who was once the head of the intelligence services during the apartheid-era, and Justice Bekebeke a man that had spent a significant amount of time under death sentence for committing murder, and Desmond Tutu who is revealed
Friday, January 31, 2020
Sales Ethics Is an Oxymoron Essay Example for Free
Sales Ethics Is an Oxymoron Essay Conversely, Sales management ethics is the specific component of business ethics that deals with ethically managing the sales function as sales managerââ¬â¢s priorities is to supervise the relationship bonded between the customer and a salesperson by ensuring that the relationship between the customer and salesperson is an honest one. Making the right decision can be very difficult for instance a majority of people would agree that honesty is an important ethical principle. Take in consideration an honest salesperson that have to meet ends of a looming end of month quota and is required to close one big deal to avoid falling short of the number. Will that salesperson fall short or will he or she undertake measures which may be unethical to reach those numbers. Sales Ethics provide aid in helping to shape a beneficial outcome for the concerning parties and stakeholders. Are salespeople more unethical than anyone else? It is proven that Sales managers and salespeople are not more likely to engage in unethical practices than are people with other marketing and management jobs. In reference to (Gene R. Laczniak and Patrick E. Murphy) significant questions are needed to be answered before taking action: is it legal? Will it infringe any regulations or laws enforced by the organisation? Does it contradict moral obligations that are specific to a certain organisation body? It is not always simple to act ethical and to oblige with the regulations denoted by the organisation. ââ¬ËIt is possible to teach ethics and ethical behaviour; however can these be learnt and be easily enforced within an organisation? ââ¬â¢ You either are or are not (Isnt Business Ethics an Oxymoron? 2008) Hence, some agree that sales ethics is an oxymoron. Acting ethical can be extremely expensive; one of an organisationââ¬â¢s main goals is to maximise profits; if they do not meet breakeven equilibrium point whereby profits equal to costs of production; a loss is incurred dispelling them to be unfit to compete in the market. The organisation making a loss would go bankrupt and would have insufficient capital to fund any operational circumstance unless they borrow the capital from banks which can be very risky depending on the organisationââ¬â¢s liquidity. Striving for a 100% in ethical commitment and regulations in order to be valid is impossible to achieve. Another aim of an organisation is to minimise costs as much as possible, acting ethical may increase costs of production creating a challenge for the company as a whole. When Salespeople are poised with the challenges that may seem impossible to achieve, giving up is the first response. On the other hand, it is not negative to strive for perfection in ethical standards; however to demand a 100% can sometimes bring about an opposite; an uncharted cause of actions that may apply pressure on the employees and stakeholders which may result in a destructive consequence. Additionally; research conveyed that age is positively related to ethical behaviour among sales managers; older sales managers tend to make more ethical decisions and relatively high levels of relativism are associated with less ethical decision making among sales managers. Relativism demonstrates the process whereby an individual reaches moral decisions based on their actions they view to be acceptable when they provided a particular scenario. On the other hand, relatively high levels of idealism are associated with a lower likelihood of hiring a controversial job candidate. Idealism conveys a set of principles where individuals determine morality; a set of standards expected to be abided by with no exceptions or excuses. This is an example of moral philosophy; which deals with systematic methods whereby individuals recognize and resolve decisions having moral content (Hair, J. F, Anderson, R. A, Mehta, R, and Babin, B. J. ) Businesses strive for perfection, an impossible standard which the organisation can only work towards but can never achieve; hence this is the perception viewers may argue upon business ethics being an oxymoron. Conversely; Sales ethics is not an oxymoron because perfection is the impossible to achieve; that doesnââ¬â¢t mean organisations should give up; instead they should strive for the best possible solutions to the obstacles encountered. ââ¬ËThese solutions arenââ¬â¢t always perfect, but they often represent the best we can achieve. ââ¬â¢ (Johannes, B. 2002) It can be difficult to apply business ethics but nobody and no organisation is perfect; striving to achieve a higher level is the best perception organisations can enact in order to reach several goals set by the organisation. One of the most important stakeholders of sales is the customers. ââ¬ËThe first sale is always the hardestââ¬â¢ claims (Hair, J. F, Anderson, R. A, Mehta, R, and Babin, B. J. ) if sales people do not sell their product or good, they cannot earn the income to source the needs they require such as shelter, food and water. Therefore the relationship established between the customer and the sales person is vital to the organisationââ¬â¢s employee and employers as a whole. This is where a boundary spanner is introduced; someone to perform his or her job in the boundary between a company and a customer. The salespeople represent the company to the customer and the customer of the company. The sales managers have a unique role in maintain an ethical work and sales climate as it is their duty to make sure morally corrupt individuals are not employed by the firm to put a check on any system providing an incentive for immoral behaviour and are also responsible for the way the firmââ¬â¢s sales force treats its customers. And most importantly; to comply with the sales ethics and standards expected by the organisation. Therefore it is essential to classify the linkage between the customer and organisational company because when making a sale to the customer as they hold certain rights and when there has been a violation of these rights; customers are entitled to claim damages because ââ¬ËCustomer is always rightââ¬â¢ Firstly, customer Vulnerability denotes a fact when customers are at some sort of disadvantage to the company. These include: Ignorance (lack of some vital knowledge, product knowledge, needed to participate in a fair exchange) Naivete (lack of experience or the ability to conduct a transaction or negotiate terms of fair deal) Powerlessness (a lack of either competition within a marketplace or sufficient assets with which to be persuasive) (Hair, J. F, Anderson, R. A, Mehta, R, and Babin, B. J. ) Customers have the right to information and should not be provided with the disadvantages posed by the sales department because this is a breach of sales ethical standards. Consequently, standards conveyed by the company must be enforced and clear to all the stakeholders and the company itself. A code of ethics must be established and enforced within the company; Code of Ethics expresses the values of a firm by specifying in writing specific behaviours that are consistent or inconsistent with those values. These codes must not only be adopted, they must embody the values truly epitomized by the top management sector (Rastogi, Aseem). There are 4 basic types of code of ethics: Company code that defines the ethical boundaries for employees. Professional codes that define ethical boundaries for occupational groups such as advertisers, marketing researchers, sales representatives, doctors, lawyers, accountants. Business association codes that define ethical boundaries for people engage in the same line of business; examples include codes established by direct selling association of America and by the American Association of Advertising Agencies; advisory group codes implemented by the government agencies and other special interest groups for aid purposes. Codes often list employee behaviours that the firm does not condone or accept. Each industry is confronted with somewhat unique ethical situations. Therefore it is extremely important to create an Ethical Work Climate which demonstrates the way employees perceive the organisation culture along with the significant code of ethics. Culture also plays a major role whereby when culture is very strong, employees will tend to share the same perceptions, on the other hand, when a culture is not as strong or identifiable, perceptions may vary considerably from one employee to another. The organisational climate, specifically itââ¬â¢s the way employeeââ¬â¢s view their work environment on moral dimensions is extremely significant in achieving the set of moral and sales ethical standards expected. Isnt Business Ethics An Oxymoron? Personally I disagree with the statement of sales ethics being an oxymoron because it is unrealistic to impose such an unrealistic standard on businesses or anything else we do. We should examine each and every ethical policy and question ourselves how do we improve from here? Is the current code of ethics adequate enough? How is the training regime like? Are the stakeholders being treated well enough? I do not believe that sales ethics is an oxymoron due to the fact that we are humans. We all make mistakes, everyone is not perfect; however if we strive for excellence; this is the best outcome we can possibly achieve with fantastic results. We need to extract sophisticated methods which may connect the values we seek to the business organisations; that way school of businesses and top companies are able to support the conceptual framework of continuous improvement in sales management; thus increasing effectiveness and efficiency to boost business ractices. Even if the possible seems impossible, giving up is never an option; there is no dishonour in being less than perfect, if everyone was perfect; this world would never have existed; there is always room for improvement and everyone should strive to get better. The answer is inevitably indeed we can always strive for excellence, sales ethics is not any oxymoron, and itââ¬â¢s an opportunity.
Thursday, January 23, 2020
The Political Climate of the 1950s Essay -- History Historical Politic
The Political Climate of the 1950s With the dropping of the Atomic bomb that ended WWII and the beginning of the Cold War, there was an irony of stability and turmoil in the United States. The start of the 1950s brought about many changes, from the Red Scare and threat of the possible spread of communism in America, to changes in political movements, civil rights movements, and another possible war, there were many significant events and people during this time. à à à à à Joseph R. McCarthy was a Republican Senator from Wisconsin with an enormous political agenda. With the fear of communism ignited by the Cold war, McCarthy and his supporters began to instill in the American people the fear that communism was taking root in the United States. In February 1950, McCarthy announced at a speech in Wheeling, West Virginia that he had obtained a list of card-carrying American Communists in the State Department (Davidson et al., 2002). For the next several months, often referred to as the Red Scare, McCarthy led a committee that investigated various government agencies and questioned a large number of people about their political associations. It was later found that the McCarthyââ¬â¢s charges were unsubstantiated, but the effects of this ââ¬Å"witch huntâ⬠would impact the United States even after the charges had settled. One the first impacts of McCarthyism was the win of Republican candidate Dwight Eisenhower in the 1952 presi dential election. The McCarthy campaign, which has accused many democrats including Harry S. Truman of taking a liberal stance on communism, hurt many democrats in the election. The infringement of civil right on the American People was yet another impact of McCarthyism. By 1952, 32 states had laws requiring teachers to take oaths of loyalty and government loyalty boards were wanted to now personal details of their employees such as what newspaper they subscribed to and what music they owned (Davidson et al. 2002). It was not until hearings against those thought to have communist association were aired on ABC and the public had the opportunity to see the badgering and mockery of these proceedings that the McCarthyââ¬â¢s popularity fell quickly and the Red Scare receded as well. à à à à à The Eisenhower presidency pursued dynamic conservatism or modern republicanism in his new term. In his own words, Eisenhower declared ââ¬Å"I will be conservative when it ... ...nt, it is without doubt that it is more historically significant. Even though slavery had been abolished, equality was far from typical. The events of the 1950s seemed to say that minorities would no longer tolerate an unequal America. The strategies of the civil right movement made more of a statement than ever before in history and paved a way for civil rights activists to make a real impact on desegregation and equality. No one could have realized that what seemed as an insignificant gesture to partake in training South Vietnamese armies and Americaââ¬â¢s involvement in Southeast Asia would one day have the impact it did on America. Although at the time when Eisenhower was trying to stop of the spread of communism it seemed the right thing to do, the repercussions of that decision and the war it eventually led to was devastating to America politically, socially, and culturally. Works Cited Davidson, J. W., Gienapp, W. E., Heyrman, C., Lytle M. H., Stoff, M. B. (2002) Nation of Nations . The McGraw-Hill Companies. Schultz, S. (1999) American History 102: Civil War to the Present. Retrieved April 10, 2005 from http://us.history.wisc.edu/hist102/lectures/lecture25.html.
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