Ratio: Balance Sheet and Financial Results

UVA-C-2332 Rev. Oct. 17, 2012 RATIOS TELL A STORY—2011 Financial results and conditions vary among companies for a number of reasons. One reason for the variation can be traced to the characteristics of the industries in which companies operate. For example, some industries require large investments in property, plant, and equipment (PP&E), while others require very little. In some industries, the competitive productpricing structure permits companies to earn significant profits per sales dollar, while in other industries the product-pricing structure imposes a much lower profit margin.In most low-margin industries, however, companies often experience a relatively high rate of product throughput. A second reason for some of the variation in financial results and conditions among companies is the result of management philosophy and policy. Some companies reduce their manufacturing capacity to match more closely their immediate sales prospects, while others carry excess capacity to be prepared for future sales growth. Also, some companies finance their assets with borrowed funds, while others avoid that leverage and choose instead to finance their assets with owners’ equity.And some corporate management teams choose to not pay dividends to their owners, preferring to reinvest those funds in the company. Of course, another reason for some of the variation in reported financial results among companies is the differing competencies of management. Given the same industry characteristics and the same management policies, different companies may report different financial results simply because their managements perform differently. And last, one other reason is that some industries are more susceptible to macroeconomic conditions than others.This can be true when macroeconomic conditions (e. g. , foreign exchange rates, interest rates, and taxes) are weak and deteriorating as well as when they are strong and improving. Or this can also be true when such conditions are stable versus volatile. Those differences in industry characteristics, in company policies, in management performance, and in responsiveness to the macroeconomic environment are reflected in the financial statements published by publicly held companies. Furthermore, they can be highlighted through the use of financial ratios.Exhibit 1 presents balance sheets, in percentage form, and This case was prepared by Professor Mark E. Haskins, Darden Graduate School of Business Administration, and has benefited from collaborations with various colleagues over the years on earlier versions. It was written as a basis for discussion rather than to illustrate effective or ineffective handling of an administrative situation. Copyright ? 2012 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved.To order copies, send an e-mail to [email  protected] com. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation. ? -2- UVA-C-2332 selected financial ratios computed from fiscal year 2011 balance sheets and income statements for 13 companies from the following industries: ? ? ? ? ? ? ? ? ? ? ? ? ? irline railroad pharmaceuticals commercial banking photographic equipment, printing, and sales discount general-merchandise retail electric utility fast-food restaurant chain wholesale food distribution supermarket (grocery) chain Internet retailing advertising agency services computer software development Study the balance sheet profiles and the financial ratios listed for each of the 13 companies as presented in Exhibit 1. 1 Your assignment is to use your intuition, common sense, and basic understanding of the unique attributes of each industry listed above to match each column in the exhibit with one of the indus tries.Be prepared to give the reasons for your pairings, citing the data that seems to be consistent with the characteristics of the industry you selected. Ours is not a perfect world, however, and for our class discussion, it will be helpful if you will also identify those pieces of data that seem to contradict the pairings you have made. Please note that using the data available here, you will find it difficult to identify those companies whose financial results differ because of management policy and competence.Please note in Exhibit 1: OCI = Other Comprehensive Income, CFFO = Cash Flow From Operations, ST = Short Term, and LT = Long Term. 1 -3The ratios in Exhibit 1 are based on the following formulas: 1. ROS (return on sales) = Net income Net sales Net sales Average total assets Net income Average total assets ROS ? Asset turnover Average total assets Average total owners’ equity Net income Average total owners’ equity ROA ? Financial leverage Total current assets Total current liabilities Cost of goods sold Average ending inventory Average accounts receivable Net sales/365 days UVA-C-2332 . Asset turnover = 3. ROA (return on assets) or = = 4. Financial leverage = 5. ROE (return on equity) or = = 6. Current ratio = 7. Inventory turnover = 8. Receivables collection = 9. Revenue growth = This year’s net sales—Last year’s net sales Last year’s net sales Net sales—Cost of goods sold Net sales Cash dividends Net income Research and development expense Net sales 10. Gross margin = 11. Dividend payout 12. R&D ratio = = -4Exhibit 1 RATIOS TE ELL A STORY Y—2011 Selected Financ Data for 13 C S cial Companies (b balance sheet amou are percentage of total assets) unts UVA-C-2332 V

Oopp Lab Work

Create a class account that maintains AC_no, name, and balance. Perform deposit, withdrawal and statement print operations. (statement print must print all the transactions that has taken place so for – use structures inside the class to maintain the details about Create a class that holds the details of the mobile phone like brand, mime, no of Simi cards, hone numbers etc. . Allow user to login with their mobile no. Use a function that sends a message from that mobile. Maintain the details of the message as a static member inside the send message function and display each time all the messages sent from that mobile, (b) 4. Create a class ID_card that maintains the details In an ID card. Perform insert, update, delete and display operation through functions that takes input through reference parameter. (c) Create a C++ program that takes employee details like ID, first name, last name, age and address.Create a class for student {name, course, regular/part-time, address}. Use f riend function to check that a student with same name and address can't be a regular student as well as an employee. (c) 6. Synthesize a C++ program that has two classes (one for employee and one for student), have a separate class for address (with door no. Street name, city, state) and reuse address both for employee and student. Perform insert, delete and display operations by taking choice of person (employee or student) from the user. Allow user to have more than one address also.Create an class that stores details about the computer (Assembled/branded, RAM, HAD, processor speed, price etc. ,). Use constructors to initialize the object and a destructor that deducts the count of object each time the object is passed to destroy function. Also use copy constructor to create a system with the configuration same as that's of an existing system. (b) 8. Create a savings_account class that maintains the details of customers like name, phone number. Cancan. Balance. Ensure that the vari ables are protected with proper specifies such that only the user's personal details can be modified directly.Perform deposit, withdrawal, statement print, and pin change operations by checking for minimum balance and other conditions. Create a new account for the same user by copying the basic details of the user using a copy constructor. (c) † 9. Create a class which maintains information like surname, password, age, mailed, phone number, accepted friends list, etc†¦ Declare a friend function Inside the class. Create 3 users such that the first user is friend with 2 and 3 (update friend list of user 1 with user names of 2 and 3). If the users logs in, he should see the personal Information

Welfare reform and not being able to survive on current minimum wage Essay

Welfare reform and not being able to survive on current minimum wage - Essay Example These were the first laws to recognize the overtime pay policies, eight-hour workday, and minimum wages for workers. A century later, there has been a lot of criticisms on the impact and effects of these minimum wages in America. Ehrenreich (3) argue that â€Å"minimum wages is a contributing factor to inflation, unemployment, and high prices†. On the other hand, other people believe that minimum wages play a role in protecting the rights and welfare of workers. Ehrenreich (1) is one of the people who argue against the establishment of minimum wages. She argues that by creation of a minimum wage, the government and business organizations are exploiting the society. This is because the minimum wages established by the government cannot help an individual to live comfortably in the society (Ehrenreich, 16). For example, the current minimum wages in United States is 7.50 dollars per hour. Ehrenreich (7) explains that this amount of money is very little, and it cannot make a person to live comfortably in any States, within America. For example, this amount of money cannot pay a nice two bed roomed house in United States. This is for an individual who is working for about 40 hours per week. Ehrenreich (17) argues that the â€Å"group of people who are vulnerable, and greatly affected by this concept of minimum wages are single mothers†. These are women who are alone, and they are forced to carter for the need of their children. The 7.50 m inimum wages is not sufficient to help these women carter for their needs. It is because they lack time to seek other works, or work for overtime, for purposes of supplementing their incomes. This is because they have to carter for the needs of their offspring’s, and hence they are forced to leave work early. In fact, Ehrenreich (12) explains that â€Å"most employers normally complain that the major problem they

Provocation As A Defence Essay Example | Topics and Well Written Essays - 3000 words

Provocation As A Defence - Essay Example The researcher states that today, under the English common law the act of provocation as a defence has been considered as a vali, since last many centuries especially in cases of murder and wherever it has been proved to be a valid defence worth consideration then in that case the murder charge has been converted to man-slaughter. The killings done by the accused has been condoned because according to the judge and the jury it was done in a state of anger aroused by some or the other kind of provocation. Provocation as a defence has been going on since the medieval times. The Royal Commission on Capital Punishment, which reported in 1953, concluded that the defence was, in some respects, too rigid and exclusionary. The English Law Commission has recently published its final proposals for a reformed law of provocation. The recommendations come in two parts: situations where accused acted in response to a fear of serious violence or in response to words or conduct that constitute †Å"gross provocation.† In cases of fear of serious violence, accused will be convicted of second degree murder, provided a person of the accused’s age and of ordinary temperament, in the given circumstances might have reacted in the similar way. This development is welcome and seems entirely suitable to cover without strain domestic violence cases. It also caters to the demands of the long drawn of several activists who had been crying hoarse over the years over the defence of provocation as being flawed and bloated.

Communication is the key to business success Essay

Communication is the key to business success - Essay Example It would build an integrated marketing communication system for a fictitious catering firm. The objective is to take all the aspects into consideration, like the company's SWOT analysis, SOSTAC (situation, objectives, strategy, tactics, action and control) for the IMC system, and develop an analytical approach to make the case as realistic as possible. Marketing communications are as important to a firm as personal relationships are important to an individual. They determine the identity of the firm in the market both absolutely, as well as relative to its competitors. Marketing communications are the heart of a company's strategy today. They determine the entire survival of the firm. With increasing competition and homogeneity of products, companies have to differentiate themselves from the other firms, for which they have to use communication effectively. Today's consumers are very knowledgeable and would expect the company to be in touch with them constantly, from advertising to after-sales service. Integration marketing communications can be simply defined as "the process of developing and implementing various forms of persuasive communication programs with customers and prospects over time" (Schultz professor at Northwestern University, 1993). Moreover, "the goal of IMC is to influence or directly affect the behavior of the selected communication audience. IMC considers all sources of brand or company contacts which a company or prospect has with the product or service as potential delivery channels for the future messages. IMC, makes use of all forms of communication which are relevant to the customer and prospects, and to which they might be receptive." The American Association of Advertising Agencies defines IMC as: the concept of marketing communication planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines (general advertising, direct response, sales promotion, and public relations) and combines these disciplines to provide clarity, consistency, and maximum communication impact." IMC can be pictorially represented as: Integrated marketing communications has an "outside-in" approach as opposed to the traditional "inside-out" approach. This means that companies have to look inside first, and then towards the customers. Customer relationship building starts from developing effective systems within the enterprise itself. To develop and adopt an effective IMC system, the company has to: identify the key audiences: present as well as potential customers determine the objectives design the communications content select the communication methods define the

Irish Folk Costume Essay Example | Topics and Well Written Essays - 3250 words

Irish Folk Costume - Essay Example The revival of Irish dancing caused viewing of the Irish national dress as a colorful and flashy. However in ancient Ireland people traditionally wore leine (Irish for shirt), trews (Irish for trousers) and long brats (Irish for cloaks) fastened with a brooch. These pieces of clothes (leine and brat) were the basic elements of ancient Irish dress for people in the upper classes. These lasted from the earliest recorded times down to the 16th century. Irish national dresses worn by people back in the eighth century have had great influence on the dresses that Irish dancers wear today. If anyone wants to get an idea of how Irish peasants looked like in the eighth century, one should just have a look at the dresses worn today by Irish dances. The dresses used in their shows are updated replicas of traditional dresses decorated with elaborate Celtic designs from the Book of Kells and emphasized with a Tara Brooch which is pinned to the shawl. The traditional colorful costume of Irish peasants stayed actual up to the beginning of the 20 th century. The Gaelic League was created in 1893. The aim of this organization was to promote Irish nationalism. To reach this aim the League organized Irish dance classes and competitions called Feisanna, which is â€Å"Festival† in Irish. The purpose of these classes and competitions was to make sure that people were dancing the national dance. The organizers believed that if people danced national Irish dances they would not go in for any other dances that weren’t Irish, English dances specifically.

FBI in China Dissertation Example | Topics and Well Written Essays - 5250 words

FBI in China - Dissertation Example The case of China is often largely cited in literature as one of the successful stories, of FDI investments. This essay on FDI in China aims to discuss various critical issues related to the policies and strategies implemented by the Chinese government to attract foreign funds, the status of labour market in China prior to and post the introduction of FDI, the political framework, the labour market conditions and the availability of infrastructure, etc among others. It also discusses the relationship between labour market conditions and its impact on FDI with the help of various case studies and examples. Contents Sr. # Topic Pg. # 1. Introduction 3 2. Historical origins and background 4 2.1. Trends in FDI in China 5 2.1.1. Current trends 9 2.2. Types of FDI in China 10 2.2.1. Sino-foreign joint ventures 11 2.2.2. Sino-foreign contractual (or co-operative) joint venture 12 2.2.3 Wholly owned foreign enterprise 13 2.3. Stages of FDI in China 14 2.3.1. Experimental stage 14 2.3.2. Grow th stage 15 2.3.3. Boom stage 16 2.4. Influence of labour market on FDI 17 3. Key Determinants of FDI in China 18 3.1. Market size and structure 18 3.2. Labour market condition 19 3.3. Availability of Infrastructure 20 3.4. Political framework and introduction of policies 21 4. Examples and Case studies 22 5. Impact and Implications of FDI on the Chinese economy 24 6. Conclusion 25 References 26 1. Introduction Foreign-direct investment in China is by far one of the greatest success stories in terms of attracting international investments across all sectors during the past couple of decades. The People's Republic of China through its revolutionary economic policies managed to attract significant foreign investments surpassing almost all the developing countries in a relatively short period of time. From a humble beginning of 100 foreign-owned firms in the year 1979, China rapidly catapulted to a position of one of the most attractive destinations for foreign investment. By the year 1998 the number grew to as many as 280,000 (See Appendix Table 1) (Facts and details, 2012). A significant reason for the radical increase in inward FDI in the country is attributed to the large scale economic reforms and open-door-policy adopted by it. According to these policies, Special Economic Zones were created in four major cities in China, in the year 1979. The key objective behind this strategic move was to gain experience and expertise of international technologies as well as management skills and boost the country's economy in the process (Wei, 1995). This move was followed by opening up of fourteen other cities to foreign firms in the year 1984 whereby concessions were offered to foreign firms to lure them into investing in the SEZs which included provision of special facilities for funding and infrastructure development (Yeh, 2000). As a consequence of such persistent efforts on the part of the Chinese Government more and more cities were made accessible to the foreign firms, thus successfully reducing unemployment and promoting economic growth. With increased attention from the international investors, and the economic reform policies China managed to attain membership in the WTO thus officially marking its entry in the international club (such as IMF, and World Bank). This further helped the country in garnering more attention from international investors (Howell, 1993). The various key issues related to FDI in China such as

Netflix Essay Example | Topics and Well Written Essays - 250 words - 1

Netflix - Essay Example Many consumers’ purchase behavior takes the form of a flag that follows whatever pattern and direction of a gust of the blowing wind. As search, there are very many cultural factors that influence a consumer’s decision to buy or not buy a Netflix subscription. There are very many subcultures such as religion, ethnicity, and race that inform most of consumer behavior and choice. The subcultures, therefore, have a bearing on the kind of entertainment that such groups will embrace since there are those that may not condone explicit sexual scenes, and there are those that may not have any issue depending on their value systems. Social class is another cultural factor that influences a consumers’ willingness to pay for a Netflix subscription. Members of the middle class watch a lot more TV than members of the other classes hence they are more likely to but the subscription due to the considerable time they spend in front of their TV screens. The inner tension that the consumer feels is called cognitive dissonance (Lamb, Hair and McDaniel 97) that arises from the post-purchase psychological confusion. Cognitive dissonance is a post-purchase behavior that many consumers experience when they feel that they either made a wrong choice or the dealer gave them a raw deal. In this case, the consumer’s post-purchase behavior resonates with the definition of cognitive dissonance since she finds that she does not have an interest in the programs that Netflix offers in their subscription service.

The Relationship Between Macbeth and Lady Macbeth Essay Example for Free

The Relationship Between Macbeth and Lady Macbeth Essay The relationship between a husband and wife is affected by their individual traits and affects their decisions together. This is exemplified by Macbeth and Lady Macbeth in Shakespeares play, Macbeth. Macbeths courage, ambition, and ambivalence combined with Lady Macbeths own ambition, cunning, and manipulative nature interact act to culminate in the final decision at the end of Act I to murder Duncan. Macbeth is first introduced by the wounded captain as a brave warrior and valors minion when the captain reports to Duncan, For Brave Macbeth (well he deserves that name). / Disdaining Fortune†¦ (1.2.18-19). His ambition emerges after he hears the witches prophecies. He becomes willing to do any manner of gruesome act to gain the throne when he says, The Prince of Cumberland! That is a step / on which I must fall down or else oerleap, / For in my way it lies (1.4.55-56) after he finds out Duncans son is heir and between him and the throne. Another of Macbeths traits, along with bravery and ambition, is his ambivalence. This is particularly obvious in scene 7 of Act I when Macbeth debates in a lengthy soliloquy whether he should kill Duncan. He lists reasons why he shouldnt commit the murder and a reason why he should, making his decision at the end known to Lady Macbeth: We will proceed no further in this business (1.7.34). These qualities conflict with each other and Lady Macbeths traits as well throughout Act I. Lady Macbeth is a complicated character in that she has qualities perceived as masculine as when Macbeth says, Bring forth men-children only / For thy undaunted mettle should compose / Nothing but males (1.7.83-85) and yet we dont know what drives her unwavering decision to murder Duncan. Is she doing ti for her husband as she suggests when she says †¦the golden round, / Which fate and metaphysical aid doth seem ? To have thee crowned withal (1.5.31-33) or is she doing it for her own benefit to gain the privileges and luxuries of a queen of Scotland? Lady Macbeth is not only ambitious but sneaky enough to fulfill her ambitions as she shows when she advises Macbeth, Bear welcome in your eye, / Your hand, your tongue. Look like th innocent / flower, / But be the serpent under t (1.6.76-78). She follows her own advice when she greets Duncan as the humble servant with a smile and  gracious words while she is secretly planning his murder. Another assumed unnatural quality in women of the time is Lady Macbeths ability to manipulate. She demonstrates this when she convinces Macbeth to murder Duncan even after he decided not to, when she says, When you durst do it, you were a man; / And to be more than when you were, you would / Be so much more the man (1.7.56-58). Not only is she manipulating him, shes bullying him into the act by insulting his manhood. It is already insulting in todays society, but in Macbeths immensely patriarchal time, its all the more offensive. Lady Macbeths qualities make her a catalyst in the play because of her effect on Macbeth. Macbeths traits vie for control throughout the act. His ambition makes him want the throne but bravery and chivalry as a servant of the king keeps him in check. This ambivalence allows him to be easily manipulated by Lady Macbeth. She is ambitious as well but cant do anything due to the restrictions of their society. Therefore, she uses her sneakiness to persuade Macbeth to murder Duncan. By the end of Act I, Macbeth has undergone a huge change from being a brave and loyal servant of the king to a conniving, power hungry killer. Macbeth eventually decides to kill Duncan because of his ambition, Lady Macbeths ambition, and her ability to get what she wants. Shakespeare, William. Macbeth. London: Washington Square Press, 2003.

To What Extent the East Asian Model Is Transferable To Other Developing Countries1 Essay Example for Free

To What Extent the East Asian Model Is Transferable To Other Developing Countries1 Essay The economic status of East Asia has become one of the most flourishing and positively growing regional economies in the globe in recent times and something to reckon with. The region has turned to be the home of the global significance as well as the most affluent economy consisting of countries such as; Japan, China, Hong Kong, Singapore South Korea and Taiwan. There have been numerous and major factors that have turned the economic success of the region to be a positive gain to the countries (Chang, 14). Some of the key constructive factors that have contributed to the developments of the positive economic status in the region includes: positive legal and political environments for both commerce and industry, through the plentiful natural wealth of different kinds, to ample supplies of comparatively low-cost, trained, and flexible employment. The success of the regional economic developments can highly be adopted in many other developing countries. This paper looks into the extent into which the model that has been adopted by the East Asian region, and how well is it suited to be adopted by other developing countries globally (the suitability of the East Asian model into the development of developing countries’ economies) (Hira, 21). Literature review The most successful developing countries over the last over the last half a century have come from East Asia. The rapid economic growth of the eight Asian economies which is often referred to as ‘East Asian Miracle’ brought along two major questions; (I) what policies and other factors contributed to that growth? (ii) And can other developing countries replicate those policies to stimulate equally rapid growth? There have been numerous analyses on the success and also based on case studies econometric data, and economic theory, offers a list of the ingredients that contributed to that success (Kwon et al, 32). Researchers have been done, concerning the model deployed by the East Asian economies and how the countries have managed to navigate through economic crises. World Bank and financial institutions, has conducted the applicability of the development model applied by the East Asian countries into the developing countries. The development evidence of the East Asian fin ancial system has been impressive, especially when compared to that of other developing countries. How can such a record be accounted for? What lessons can we draw from it? What has been the role of public policy? These are questions that have aroused heated debate in recent years, especially among the mainstream neoclassical school and the non-orthodox or revisionists (Saggi, 36). According to World Bank 1993, the ‘East Asian Miracle’ model has been a positive gain to the Asian economies which can as well be adopted in the developing countries. In addition, Haggard, 2004 noted that, there is no fixed definition of what is contained in the ‘East Asian model’ of development. How economies grew, how industrial structures were transformed, how governments intervened in solving coordination problems, pursuing efficient policies, making credible commitments, etc. varied depending on time and location (Hughes, 18). Different writers select different characteristics, often depending on what country (or countries) they are studying, and, at times, in function of their ideological preferences. At the clear risk of over-simplification, but so as to maintain the discussion manageable, four major features will be selected that have, arguably, been both common to, and crucial for, the experiences of Japan, Taiwan and South Korea over the periods he re examined (Chang, 26). Introduction The historical, trade and industrial growth in East Asia described as ‘East Asian Miracle’ brought a huge attention into the world and has provided a large literature on the economic development theories since then (World Bank, 1993). The countries, Korea, Taiwan, Hong Kong, and Singapore, followed Japan, which itself was the very first country that succeeded, becoming an industrialized country outside the famous western economy, and achieved similar economic success in the phase of development following the Second World War from the 1950s to the 1970s and named as the four Asian Tigers. Then the three newly Industrializing economies (NIES) of Southeast Asia, Thailand, Malaysia, and Indonesia also managed to take off becoming large enough to reach the respective status of middle income countries in the second phase from the 1970s to the 1990s. (Chang 2006, World Bank, 1993, Jomo, 2001).The adoption of the given model led to the adoption of a strategies directed towards t his regional economic development and in turn coming to be a central aspect in development these economics and the model was denoted as the ‘East Asian Development Model (EADM)’. The model has different defining clauses and includes factors such as state control over finance, direct support for state owned enterprises by the government, import substitution industrialization in heavy industry and shift to export-led industry, a high dependence on export markets and a high rate of domestic savings among other practices. The nature of this model EADM was opposed to the protestations of the IMF-led Washington Consensus, model, which itself constitutes principles, and policies that are aimed at global economy work through the act of harmonizing the way that national economy operates. For example, the models work through the act of reducing barriers to international trade such as tariffs deregulation led to reductions in government control with the pushing for free trade practices. However, the World Bank’s influential study, on the East Asian Miracle represents the neo-classical claim in the current East Asian debate by acknowledging that, the frequent use of state intervention in the East Asian development process, but also inefficiency of the intervention. According to World Bank (1993), the intervention was not harmful, though still not helpful. However, it is widely recognized now that the export-push strategies in East Asia are very much linked to selective industrial policy and state intervention actively promoted economic growth in the region. According to Wade (1992), the development of a concept of the governed market theory, explains the East Asian success by three causes; (I) high levels of productive investment. (ii) Relatively an increased investment in certain key industries and finally (iii) exposure of many industries to international competition. It is argued that such economic policies, incentives, controls and risk spreading mechanism allow them to sustain rapid development, which produces different level productions and its huge outcomes in the private sector. This theory emphasizes on capital accumulation rather than resource allocation as per the orthodox theory as the principle source of growth (Nissanke Ernest, 11). It is unrealistic to assume that there is only one development model and it can be mostly agreed that nations have been taking their own or different ways of pursuing the EADM model with diverse development strategies. Hence, this paper will argue based on the World Bank’s famous distinctions of the model; Northeast Asian model; based on the Japanese paradigm of industrial policy and more active state intervention, which refers namely the NIEs countries Southeast Asian model; described that more open and market-friendly regimes, which refers ASEAN-3 countries; Thailand, Malaysia, and Indonesia It is often criticized that, the re-applicability of the Northeast Asian model by claiming is not possible in the contemporary context, not only because it ignores the importance of the global market, but also owing to the Unique historical context of Northeast Asia and the constraints under the new regime of the ‘WTO’. Therefore, the first goal of this paper is to refute the initial condition argument while addressing analytical shortcomings of this orthodoxy theory; it deals mostly with static concerns and thus has little say about dynamic changes, and also it downplays the social-political dimensions of the economic development, adopting just a kind of ‘economic determinism’ in their approach (Richter, 44). Positives from the East Asian Model Diversity in ecosystem, population, ethnicity, religion, social structure, and political regime Equally great diversity in GDP, per capita income, and economic development High growth sustained over a long period almost throughout the region. Associated with this high growth are high, savings and investment rates, active, but managed external opening, export orientation, industrialization, and general improvements in social indicators. Accomplishments and Characteristics of the East Asian Development Paradigm One of the major achievements of the model is the rapid economic growth of the region. For example, the implementation of the model led to the real income per capital grow four times bigger than it was previously in Japan, Taiwan, Hong Kong, Singapore, and South Korea. Another accomplishment of the model was declining inequality. This is whereby; the positive gains and economic developments were evenly distributed throughout the populations. Thirdly, the model led to a quick reduction of the technology gap through massive investment in human capital, importation of foreign technology, export orientation, and the opening of markets for foreign direct investment as a means of introducing advanced technology. Finally, the model led to reduction of poverty rates in the region (Saggi, 51). Adaptability of ‘East Asian Miracle’ into the Developing Countries (To What Extent Can the Model Be Used By the Developing Countries) Less developed, countries or better still developing countries globally are nations denoted by the poor living standard as well as underdeveloped in industrial aspects. Base as well as a low human development index, when compared to other countries. One of the aspects used to differentiate between a developed and an underdeveloped country is the value of the county’s GDP per capita. Less developed nations are countries that have not realized a considerable degree of industrialization in relation to their populations. In most cases, they are said to have medium or poor standards of livelihood. There is a well-built relationship connecting low earnings and high populace growth. Once an expansion strategy is chosen, the proper policy systems will in turn certainly be formed or laid down as the foot print to development, and in turn the outcome of economic growth is, to a greater extent, determined by whether the preferred developmental strategies are right or wrong. If only the m acroeconomic setting and government guiding principles are well thought-out, and not looking into positives and negatives of the given development plan, then a general idea of where the problems lie is impossible. Modification plans thus raised can barely give solutions to problems existing in the wealth of African states (Hughes, 40). The implementation of the East Asian Model in the developing countries would somehow be of great achievement in terms of development. One of the major contributors to the development of the East Asian is the growth driven by trade and investment. For each of the countries in the region, the long term growth path as well as the achievement of industrialization can be tracked by income trends as well as structural shifts in GDP and exports. The exceptional feature of East Asian growth is that it has been achieved through the very existence of East Asia as a powerful arena of economic interaction among its members, and not merely by â€Å"market-friendly† policies or good governance of individual countries alone (Kwon et al, 57). One of the achievement or realization that has contributed to the development of the East Asian regions in terms of economy is the realization of the economic growth through participation in a series of dynamic production network that is generated by pri vate firms. This has been benefited by Linked by trade and investment, a system of international division of labor with clear order and structure exists in the region. Taking this approach into the developing country, the model can be of positive gain to the developing nations. The model also explains the importance of the private sector in the economic development of a nation. This can be adopted in the developing nations as it would lead to the increase of the country’s GDP (Kwon et al, 68). Another point that can be borrowed from the East Asian development model is the interaction among the members of the region. Thus, can be deployed in other regions such as Africa and also becomes a success. This would lead to the formation of powerful arena in terms of economic interactions between different countries. Moreover, good governance should be adhered in order to achieve the benefits from the model implementations. For the developing countries to develop and adopt the model into positive gains, the developing countries, have no choice but to initiate development, and undertake international integration via trade and investment. The East Asia model has also described the need to have well established political, social and economical conducive environment for a better economic development. This van as well be adopted in the developing nations which are greatly denoted by poor political establishments, and deteriorated social and economic aspects (Hira, 71). One of the developing regions or countries is the African states. The biggest question that remains for the African states is: Can African learn from the ‘East Asia miracle’ development model? Yes, the model can be of great help to a number of African nations as majority of them are categorized as developing countries. Since 1970’s all the way to the late 1990’s, East Asia has experienced has embarked on a model that has resulted in an outstanding evidence of high and unrelenting fiscal growth. The model has become a development model to other developing regions as is the case of African states (Chang, 49). One of the major aspects of the model is the East Asian regions embarked on the plan to increase the value and the amount of exported goods and as well reduce the number of imported goods. Through the increase in the volume of exports from the Asian countries, there was an increase in the volume of finished goods and the success in export trade has seen maintenance of high deposition and domestic venture rates. This provides the capital essential for economic expansion. Consequently, reducing the dependence on foreign investment and embark on home trade, investment and in turn increasing the value of GDP (Nissanke Earnest, 63). Following the attainment of independence, the third world countries were faced with the task of identifying the right approaches to build up their economies. This was meant to exterminate poverty as soon as they could. Many of these countries (developing) turned to strategies that targeted industrialization acceleration. This opted choice by some countries brought along an economic system that was an unclear macro policy setting and designed distribution structures for properties and the micro-management need for self-sufficiency. The result of the countries that deployed this approach to develop their economy, were shocked as such economic structures smothered economic growth. In return the economies of these countries which followed such strategies didn’t step forward at all, as some of the nations fell behind development as they were faced with more problems (Chang, 80). In contrast to this scenario, the development plans adopted in the East Asia signified an extra choice and approach to economic development. The region members gave massive contemplations to their resource state of affairs, and in turn they took advantage of their ample labor availability resources which provided them with low costs of labor. This approach allowed them to establish industries that are labor intensive as an economy development take-off. In addition, in order to achieve positive results in their economy development, the countries had to adjust their industrial organization. This approach was deployed in the ‘East Asia miracle’ model, which turned to be a success in the region. However, the approach of the same by the developing countries would be of great benefit to the countries and their regions such as Africa (Richter, 55). Another advantage of the miracle model for the developing countries is that, it teaches the developing economies to sustain a constructive macro-economic situation as well as the correct basic policies. The Asian countries have maintained their debt within bearable limits. One of the factors that has dragged the economic development and prosperity of the developing economies is the massive and inability to control their debts. The countries are heavily indebted to the financial institutions such as the World Bank and IMF, such that, they are unable to control their debts owed to another stable and developed countries. With the inability to control their debts, the developing countries couldn’t control their inflation as well as both their home and foreign debts to a definite extent. Most of the developing countries are agriculture products dependent in terms of their productions. The East Asian models for economic development guaranteed the effectiveness of their policies whic h in turn was to enhance an increase in agriculture production (Jomo, 76). Other positive which can be of great advantage and can also be adapted into other developing countries includes the foundation of fundamental sound development policies. A large portion of economy development in East Asian can be attributed to getting the fundamentals needed correctly. These factors or fundamentals include responsible and disciplined fiscal and monetary policies, which are beneficial in maintaining moderate rates of inflation in the developing countries. Inflation is one of the factors that are a hindrance to economic stability in these developing countries. In addition, the model called for the conducive economic environment for private investment. For the developing countries, it helps realize the vital and the importance of the private sector in the economic development of the countries. In addition to the importance of the private sector in the economic development, the East Asian â€Å"miracle† model also advocated for high investments in education. To th e developing countries, investment in education, such as post secondary education, vocational and technical skill training developed a better educated labor force suited for rapid economic development (Kwon et al, 86). High rising and saving rates were also a practice advocated by the model. The East Asian governments developed a relatively sound and stable financial system. This was achieved through strengthening prudential regulations and supervision of financial institutions and setting limits on competition. They also expanded the financial system network by promoting postal saving systems to successfully increase the accessibility of financial savings instruments to non-traditional savers. Finally, the fundamentally sound development policies included actively seeking foreign technology through foreign licensing, capital goods imports, and liberalization of foreign direct investment. The policies were some of the adaptable policies what would work well with numerous developing countries globally (Hughes, 98). In fact, since the 1970s, Africa nations have continuously explored and re-assessed their development strategies, so as to seek out with a unique development pattern suited to Africa. This exploration is still underway. In this regard, African country can gain some ideas from the experiences of East Asia. A favorable macroeconomic policy environment is needed to support the practice of comparative advantage development strategies. For this purpose, productive factor markets and finished products, markets, which are feasible and fully competitive, must be established, so as to conform to the smooth operation of the market mechanism. Some African countries are making efforts in this direction while adjusting their structure. Meanwhile, they should pay special attention to adjusting policies (Hira, 89). Agricultural policy for agriculture remains the mainstay of the economy in most African countries; the support of the agricultural sector is significantly to economic development. The experiences in East Asia have shown that with the right agricultural policies and a measure, agriculture plays an important role in pushing the national economies forward. Many African countries have improved, to differing degrees, in prices and the circulation of goods, as well as agricultural tax policies. But there is a long way to go. Improving the management of State assets and raising profits in most African countries. State enterprises play a significant role in production and employment. However, poor profits and large losses have become an emerging problem facing economic development. Many countries have proposed the privatization of State enterprises. So far, the process has made little progress and has had little effect. In this aspect they still need to explore new methods of reform (Nissank e Ernest, 78). Defining government functions either under the marketing economy or the planned economy, government plays a very important role in economic development, only differing in its functions. The experiences in East Asia have indicated that the government should intervene only in the fields where it is needed, leaving markets to operate freely. Only in those fields, such as developing human resources, constructing and protecting infrastructure, environmental protection and so on. Where markets are not able to operate, will the government need to intervene? This will create a stable, sustainable and fair environment for the operation of market mechanisms. Choosing suitable development strategies and forming correct policies, this is a precondition for achieving favorable results, but not the full condition for ideal development. An effective and powerful government is a basic guarantee for the realization of the development aim. During the past three years, the African economies have contin ually risen and the overall situation has been improved. But the adjustment of strategies and improvements in external conditions requires time. Africa will be able to step on the path of continuous economic growth only if it undertakes long-term efforts and carries out suitable economic reforms (Chang, 101). Reasons why the development model won’t work with other developing countries Letdown of the East Asian growth Model Despite the progress made by the East Asia region in terms of economic developments, criticisms of the model have been raised as well as the models, adapted to other countries such as the developmental one. In addition, the adaptability and sustainability of the model have been questioned. The path trodden by East Asia has not always been smooth as some nations in the region failing to achieve high growth, and the states were hit by occasional setbacks. East Asia has had its share of hardships in its history, with hot and cold wars, social instabilities and financial crises. In addition, the structural weakness of the model is a posing threat to the adaptability of the system into other countries economy development. Despite the weakness, not a sign of the end of the system, it may instead be a signal that the model in dire need of repair in order to be a success even to other different regions (Nissanke Ernest, 92). Moreover, the East Asian model has evolved over time and adapted to the changes that has occurred in the region such a political, societal and economic changes which have not only occurred in Asia but also in other parts of the world. The fundamental question from this is whether the model can adapt to some of the most significant changes and developments that change the economic landscape of the developing countries such as democratization and domestic economic liberalization, globalization in parallel with regionalization, and the emergence of a new economy driven by information technology. The model can be able to adjust to significant changes in the region, but at the same time fail to adapt to the same changes in other regions such as Africa (Chang, 120). East Asian countries were constantly showing a lot of structural strains and rigidities. The model was hampered by four main failures that affected the credibility and applicability of the model into the developing nations globally. One of the failures is that, the model neglected the differences involving the government mechanism and the elected policy as well as the market liberalization. In addition, the failure to reorganize the financial structure was a stumbling block for the model to be adopted in the developing countries. Finally, the congested and non-transparent corporate sector within the developing countries such as the African states was a stumbling block to the implementation of the model (Kwon at al, 136). Asian Financial Crisis In 1997 Despite the growing status as one of the blossoming economic growth globally, the east Asia economy had to overcome some worrying and threatening financial crises. The Asian region was at some time faced with a severe financial crisis, Fro example is the ‘Asian financial Crisis in 1997’ also known as Asian Contagion. This was a succession of money devaluations that had spread through a good number of Asian markets. This financial menace started in Thailand, and spread to other Asian countries such as Hong Kong, Malaysia, Philippines, Indonesia and South Korea. The  Asian financial crisis  was a period of  financial crisis  that gripped much of East Asia beginning in July 1997, and raised fears of a worldwide economic meltdown due to  financial contagion (Harrold, 66). The currency markets first failed in Thailand as the result of the governments decision to no longer peg the local currency to the U.S. dollar. Currency declines spread rapidly throughout South Asia, in turn causing stock market declines, reduced import revenues and even government upheaval. According to Krugman’s Paul view, the east Asia economic growth had historically been due to the increase of capital investment. However, the total factor productivity of the region had only increased marginally or not increased at all. In the case of long term prosperity, there ought to have grown only in total factor productivity and not capital investment. The collapse of the Thai Baht in July 1997 was followed by an unprecedented financial crisis in East Asia, from which these economies are still struggling to recover. A great deal of effort has been devoted to trying to understand its causes. One view is that there was nothing inherently wrong with East Asian economies, which have historically performed very well. These economies experienced a surge in capital inflows to finance productive investments that made them vulnerable to a financial panic. That panic–and inadequate policy responses–triggered a region-wide financial crisis and the economic disruption that followed. In addition, The weaknesses of the financial sector in the East Asian region were masked by rapid growth and accentuated by large capital inflows, which were partly encouraged by pegged exchange rates (Harrold, 103). Key Root Causes Of The Asian Financial Crisis In summary, the main causes of the financial crises in Asia were: Large current account deficits that left the countries vulnerable to changes in investor confidence and macroeconomic conditions (i.e., slower growth). Overvalued exchange rates that were often pegged to the U.S. dollar, which was, at that time, appreciating quite rapidly. Rapid and unsustainable increases in asset prices, especially stock market and real estate prices. A currency mismatch between assets and liabilities that left banks and enterprises vulnerable to exchange rate devaluations. Inadequate bank regulation and supervision. Implicit and explicit government guarantees that made high-risk projects (including projects which relied upon continued appreciation in real estate prices) attractive to investors. Political instability Lessons learned from the Asian crisis In East Asia, in addition to supporting the International Monetary Funds programs, the Bank provided Structural Adjustment Loans to prop up and re-capitalize on selected banks by supporting bond issues. In addition, the World Bank set up credit lines to help finance imports. The Asian crisis menace came as an eye opener and as a surprise to policymakers, investors, and academics alike, where buy despite majority accepting the menace was expected it would have been controlled and avoided too. This would be of great help to the developing economies such as the African States cases. The recommendations that were passed for the prevention of Asian financial crisis prevention would be of great help to prevent the re-emergence of such a case again. In addition, the crisis was an eye opener to the economies of developing countries as well as the importance of the IMF. These include conditional financing, bail out from the such menaces as well as the structural adjustment package. As seen from the Asian Financial Crisis case, financial intervention from the International Monetary Fund and the World Bank played a vital role in reversing the scenario. As a result of the crisis, many nations adopted protectionist measures to ensure the stability of their own currency. Often this led to heavy buying of U.S. Treasuries, which are used as a global investment by most of the worlds sovereignties. Financial and government reforms in countries like Thailand, South Korea, Japan and Indonesia. It also serves as a valuable case study for economists who try to understand the interwoven markets of today, especially as it relates to currency trading and national account management. In summary, of the Asian financial crisis in 1997, the East Asia’s experience suggests that while a classic panic may have played a role, financial sector weaknesses were a major contributor to the recent financial crisis. Such weaknesses appear to reflect the inability of lenders to use business criteria in allocating credit and implicit or explicit government guarantees against risk. This implies that it would be prudent to accompany efforts to spur recovery in East Asia by reforms designed to strengthen the financial system. ‘East Asian Miracle’ Application To African Countries (Kenya) From the early 1970s onwards, the nations of East-Asia, also known as the Asian Tigers due to their astounding growth and expansion economically that demystified the conformist economic theory based on the western model of growth that adopted industrial development as an approach for overall development. Numerous researchers have pointed out that, contrasting the western model, the Asian model is premised on capital build up as well as that of human capital, which are seen as influential in the growth of these countries economies. The Asian economic growth has been very notable such that it has served as a textbook case for strategy makers in numerous Least Developing Countries such as is the case in Africa (Nyongo, 2007). This growth incident has baffled various economic historians as well as geographical experiences recorded so far leading to researchers to argue that, success in Asian countries was based on an updated version of primitive accumulation and that, their success can be a model if only their high savings rates can be replicated. This is in   contrast to African economies such as Kenya, which took off at the same time and indeed rate as the Asian economies. Contlarry of the Asian countries, Kenya recorded dismal and unsatisfactory growth and development over the last two decades prompting a number of scholars to call the incident â€Å"a crisis of proportion. This rather tremendous contrast between the two regions, that so recently shared a similar turbulent past, raises many questions which should be of interest as well as a challenge to policy makers, especially in Africa to discern what went wrong with their policies and policy implementation, against what went right with Asian coun tries. Such questions that beg urgent answers are even more pertinent when one considers that, Kenya was poised to grow faster than the Asian countries considering its resource advantages. For example, at the time of self-government countries such Kenya and Ghana were said to have had a healthier growth prediction than any country among the Asian tigers. According to the world bank, (2003) â€Å"it would be hugely important for African researchers, practitioners, and policy makers to have the opportunity to observe directly the economies of East Asia and Southern Asia themselves to discuss economic policy reform directly with the academics, practitioners and policy makers from the Asian region.† However, one point that should be kept in perspective is that, there are no two nations that are similar so as to assume that expansion and growth in one can be replicated in the other. One point to be noted in cases of development, there are some fundamental factors that must be in place for a country to latch into the development phase and the rest depends on the model the country pursues to sustain the development. Many policy makers and indeed some academics in Kenya, and Africa at large have, for quite some time now, tended to attribute Africa’s poor development record of its historical past, specifically blaming it on her colonial legacy, and later neo-colonial ‘manipulation by western countries’. Such attitude holds no ground when one considers that Asian countries had a comparable historical environment, which limits the extent to which these arguments can be held to justify the poor development record of many African states 50 years on. One point to be noted when it comes to Kenyan case and other African countries is that, African economies at the time, were not capable of creating good governance on their own, nor could they be expected to assemble the human and capital resources necessary to ensure a development process. According to Nissanke (1998), the failure of African states to economically develop like the Asian case, after independence is that, whilst all seemed to have a common goal of accelerating the pace of economic growth and thus development, they tended to diverge on such issues as: the role of the state, the degree of openness that could be accommodated, the desirable partner of investment in social services versus economic services, and the government-private sector relations. The long-standing results obtained   were not dissimilar, suggesting that, failure was the outcome of a wrong mix of policies which are uncoordinated, absence of institutions, external environment, lack of societal prepared ness, which were by and large   constraints overcame by their Asian counterparts. Elsewhere O’Connel (1996) commenting on such failure, emphasized that, African states and especially Kenya, have evolved from a shortage of capital diagnosis of the 1960s and 1970s, to a diagnosis of policy failure of the 1980s and, finally, to a diagnosis of institutional failures of the late 1990s. However, other researchers who, when comparing the source of growth in Asia with those of Germany, UK, USA and Japan, conclude that, by far the most important source of economic growth in these countries is capital accumulation, accounting for between 48% to 72% of their economic growth (Nyongo, 2007). Others have pointed out that, it is rather a combination of both capital accumulation and human capital accumulation (learning by doing) which have been the productive engine behind the unprecedented growth, pointing out that, physical capital critical in the growth process, is rather passive and subsidiary to human capital accumulation. This contrasts to the above group of industrialized nations where technical progress played a vital role in their development, accounting for between 46% and 71% of their economic growth (Aryeetey International Conference). Whereas capital accumulation and indeed human capital development accounts for growth differentials between Africa and Asian countries, it all depended on policy choices each the countries in Asia took, for such development has not been uniform in most Asian economies either. Rather, Asian countries which have recorded unprecedented growth episodes have combined not only right and consistent policies over time, but also their societal preparedness had an even greater role to play to this end. It has thus been pointed out that, countries such as Malaysia, Singapore, South Korea, Indonesia, Thailand, and of late Vietnam have all had an element of societal preparedness, which is highlighted in the culture of hard work, drive to succeed, and high propensities to save (Nyongo, 2007). Others even argue that, the Chinese culture (of hard work and their strive for excellence) entrenched in most of these countries in part explains their drive to grow at the rates that far exceed the growth recorded elsewhere. The dismal performance of a number of African economies has also been explained in the context that, factors attendant in the Asian region, were not to be found in African countries, and no wonder that, no one country latched into development phase close to the Asian Tigers (Aryeetey International Conference, 2003). Although many African countries have borrowed a leaf from their Asian counterparts, especially in the areas of human capital development, the new paradigm shift has mainly focused on institutional development. This is even more pertinent considering that, Africa has not been short of capital. Indeed, despite the massive foreign aid and to a lesser extent direct capital flows, African economies have not developed as expected. This reinforces the belief that, capital inflows, whether local or foreign, cannot make an impact in the absence of a conducive environment characterized by transparency, governments, good governance, democratic political economy, conducive economic, social-cultural, and legal environment (Harrold, 96). Findings and conclusions At the turn 21st century, there has much dialogue and discussion about the ‘miracle model’ in East Asia and its effectiveness in the economic development and its sustainability. The East Asian economic development model, which built the hypothetical and institutional structure of growth in the area, is liable along with the rest of what was one time called the East Asian Miracle. In an attempt to give a rich, textured analysis, it’s clear from the paper that, the model can be of positive gain to the developing countries in terms of economic development. Despite the ‘East Asian development model’ a workable option for the developing and less developed countries, it had its own shortcomings. The contributors provide a cohesive review of the East Asian development model, exploring its cultural heritage, the political context through which it arose, its basic assumptions, and its recent failures. In particular, they identify the causes and consequences of the Asian economic crisis, describe the features of economic development throughout the region, and discuss the strategic responses of Asian firms to newly  developing economies of countries such as African states. The sustainable and swift economic growth in East Asia has attracted wide attention in Africa, and they believe the successful experiences of East Asia should be followed to develop African national economy vigorously. It’s clear that the model deployed by the countries in the region (East Asia) was effective in raising the country’s GDP and in turn it was worthy to be deployed in the African countries which are an example of developing states. Despite the growing challenges over the time, the model can be of great help to numerous growing economies. However, the fact that the East Asian model is so attractive to many African countries is bound to have profound implications for development practitioners. Western aid is not the only game in town anymore, and the global development  agenda is no more immune from the influence of a rising Asia than the global economic system has turned out to be. Developing countries can now choose between an ever-growing variety of donors, trading partners, investors and development strategies. Whether or not we agree with the models they pick or even with the idea of a development model at all we would do well to listen to and engage with these views. Therell be no point in trying only to reform and improve western aid if the real debate is happening somewhere else. References Adams, Francis G.  Public Policies in East Asian Development: Facing New Challenges. Westport, Conn. [u.a.: Praeger, 1999. Print. Aryeetey, E., International Conference Asia and Africa in the Global Economy. (2003).  Asia and Africa in the global economy. Tokyo: United Nations University Press. Chang, Ha-Joon.  Rethinking Development Economics. London: Anthem Press, 2004. Print Chang, Ha-Joon.  The East Asian Development Experience: The Miracle, the Crisis and the Future. London: Zed / TWN, 2006. Print. Harrold, P., Jayawickrama, M., Bhattasali, D. (1996).  Practical lessons for Africa from East Asia in industrial and trade policies. Washington, DC: World bank. Hira, Anil.  An East Asian Model for Latin American Success: The New Path. Aldershot, England: Ashgate, 2007. Print. Hughes, Helen.  Achieving Industrialization in East Asia. Cambridge [England: Cambridge University Press, 1988. Print. Jomo, K S.  Growth after the Asian Crisis: What Remains of the East Asian Model? New York: United Nations, 2001. Print. Kwon, Jene K., and Jung Mo Kang. The East Asian Model Of Economic Development.  Asian- Pacific Economic Literature  25.2 (2011): 116-130.  Business Source Complete. Web. 11 May 2014. Nissanke, Machiko, and Ernest Aryeetey.  Comparative Development Experiences of Sub- Saharan Africa and East Asia: An Institutional Approach. Aldershot, Hants, England: Ashgate, 2003. Print. Nyongo, P. A. (2007).  A leap into the future: A vision for Kenyas socio-political and economic transformation. Nairobi: African Research and Resource Forum. Richter, Frank-Jürgen.  The East Asian Development Model: Economic Growth, Institutional Failure and the Aftermath of the Crisis. Basingstoke [u.a.: Macmillan [u.a., 2000. Print. Saggi, Kamal.  International Technology Transfer to Developing Countries. London: Commonwealth Secretariat, 2004. Print. Source document

Gender Differences in Mental Rotation Experiment

Gender Differences in Mental Rotation Experiment Abstract Mental rotation involves mind when it tries to recognize objects in the surrounding and figuring out what the altered objects really are. The aim of this experiment was to determine reaction time of different angles of rotation and influence of gender differences. The task involved comparing three letters, some letters appeared the same and others were difficult to tell during rotation. I also noted that, the more an image is rotated from the point of origin, the longer it takes for an individual to realize if the letters are the same. Neither the position nor the axis on the object being rotated is the degree in which it is rotated and the speed of the rotation. Matching the letters required a lot of time as the speed of rotation increases. The experiment also showed that, females are faster than males. Keywords: Mental rotation, experiment, females, males, mind, gender, memory Mental rotation Introduction Mental rotation involves moving objects in the brain. These objects are stimulus (Cohen, 2012). As they rotate physically they also move mentally. The differences that may occur in different genders may be as a result of picture vividness. Images may appear very bright seeming like real life because it is clearly bright or detailed. In this study females got the higher score because they have habits in thinking and their way of thinking is quite different from men. This experiment was aimed at determining the length of time that could be taken to determine whether the letters were the same or quite different. For each pair, I tried to redo it by closing one eye and tried it again when all eyes are open to identify any difference. According to the theory of Paivio and Harshman (1987) females always tend to remember first because they use more imagery, colorful images which they have developed a habit in. As compared to males, reported use of images is a way of solving problem and gives them the ability to visualize objects. For instance, females do well in images that view regularly provided that they are colorful hence drawing their attention, whereas males might do well in manipulation of images. Males perform well on arts like drawing; while female perform well on some tasks requiring visual memory. Female have the tendency of reporting events and use of imagery. These images are stimulated by the verbal accounts of events. According to Paivio and Harshman (1987), this theory indicates that female tend to have more pictorial imagery as compare to males. By applying commonsense, people may differ in image viewing and image control. Some individuals may be having eye complications (Johnson, 1990). This has a very big difference on individuals. It all depends on how the images are perceived. The finding of this experiment therefore indicates that, individual differences in imagery are multidimensional and image ability might be multidimensional. In conclusion, mental rotation is depends on the mental rotation speed of different people. There is need for research in future to focus on the effects of the various socio-cultural and biological factors, as well as competent mental effects that influence individuals’ mental rotation and the strategies to acquire competent mental rotation. It is also hypnotized that, gender also determines on the ability of mental rotation. Method Participants: Participants were 10 competent students. This group consisted of 6 females and 4 males with age range from 20-45. Participation was open and voluntary to anyone. There were more females than males. Materials: There were 10 trials of different lettered objects to the participants before being rotated. This was to determine if the objects were similar both on the left and right view. Participants were given different letters on computer screen for 10 trials. The objects were being shown randomly and the participants were to make a comparison by clicking on the mouse to accept by pressing a button of true or false. The mean time was measured in seconds. Participants were also asked to give more information on gender and age and their effects on the rotation. It came to my realization that young people tend to have a sharp memory than the old people hence they are more skilled in mental rotation. Procedure: For each trial, the entire 10 participant were shown two different presentations of the objects. The object on the left was the standard version and the shape on the right was a reflected version of the shape on the left. The object on the left was shown in the upright way appearance while the object on the right was rotated in each trial; participants were to rotate the right object mentally then draw a conclusion if the objects were similar. That is, if the right objects were identical to the left objects. Participants were also asked if the left object was identical to the right one or otherwise. The task of participants was to complete the 10 trials, and to mentally see if they could recognize objects in their upright position after being rotated. Results: The results showed that, the bigger the rotation of the angle, the longer it takes for the participants to make decisions on whether the two objects have any similarities. As the object on the right was reflected, the vision of the object on the left participants first rotated the shape mentally to the right position. Individuals with inability were faster and more accurate in identifying the images. After mentally rotating the imagery they responded whether or not the shape was identical to the first shape. The results from the table also showed that if a shape has been rotated to instance 240 degrees, physically it will take longer for an individual to compare a shape which has been rotated 60 degrees. From the group, females were the most of the participants and they were showing a higher reaction and quicker response than males. This clearly showed what sex difference influence mental rotation. Discussion As already mentioned that mental images are analogue representations of physical objects, this finding supports the result of Harshman and Paivio and (1987) on reaction time. The results provide supports for the hypothesis that as angle of rotation goes, the reaction time of participant increases. This information supports the hypothesis which has been supported in this study. As the angle of rotation becomes bigger, it takes the participant longer time to make a decision. According to the findings, participants mentally rotate the second objects to its upright position first then compared with the standard version of the object. After mentally rotating the imagery, they respond whether or not the shape is identical to the first shape. The results show that females have higher reaction time than males. The results showed that, it took females longer to decide â€Å"males are more proficient on paper and pencil tests requiring mental rotation or transformation† (Harris, 1978; Maccoby Jacklin, 1974) now that there was an equal number of a female participant to that of the male participants. The limitation of having a bigger number of female participants was eliminated by balancing the number. The results supported the hypothesis that gender differences influences the way an image is perceived. As predicted, the females scored higher than males on the mental imagery test because female perceive objects differently. This findings supported by earlier studies in which female needed more time to rotate the shape mentally than males. I also found out that, the ability to rotate objects mentally might relate to individual differences in specific kinds of imagery abilities. Also from the research mental rotation is activated by different coloured shapes. The coloured objects tend to take a shorter time than the dull objects. The setting for this experiment was at school. This enabled us get different results from the previous ones. The environment where the task completed made this study a success because there were very few distractions. All the concentration of all participants was sufficient in conducting this research. The environment was conducive and it enhanced the findings about mental rotation. Additional advantage of this study was the limited range of age group, which enabled us to establish the differences and how different people with different ages perceive objects in their brains. Differences in age may influence how long it might take a participant to make the decision that the object is real or similar to another. The overall result of this study is that, as the angle of rotation goes upwards the reaction time of the participants increase. This is because the image must first rotate mentally then decides the shape is mirror or not. In conclusion male participants are not a good simple of representations. Aged people are also not good in mental rotation. References: Cohen, M. 2012. Changes in Cortical Activities During Mental Rotation: A mapping study using functional magnetic resonance imaging Retrieved on May 29, 2014 from, http://airto.bmap.ucla.edu/BMCweb/BMC_BIOS/MarkCohen/Papers/Rotate.pdf Harshman R.A. Paivio, A. (1987). â€Å"Paradoxical† sex differences in self-reported imagery. Canadian Journal of Psychology, 41, 287-302 Johnson A.M. (1990). Speed of mental rotation as a function of problem solving strategies. Paivio, A., Harshman, R. A. (1983). Factor analysis of a questionnaire on imagery and verbal habits and skills. Canadian Journal of Psychology, 37, 46l-483

Misunderstanding in To Kill a Mockingbird by Harper Lee :: Free Essay Writer

Misunderstanding in To Kill a Mockingbird by Harper Lee Walter Cunningham arriving and presenting himself at the finch household poses some questions for Jem. Firstly she cannot understand the agricultural terms as Atticus and Walter discuss crops. â€Å"†¦but there’s another’n at the house now that’s field size.† Jem takes this as Walter saying that he has employed someone to help with the cutting and thus asks him if he paid with a bushel of potatoes. Jem’s mindset of the Cunningham’s not paying money but paying in whatever ways they can comes from Atticus’ advice in the previous pages. Jem’s amazement at how Atticus and Walter talked together like two men clearly comes from a misunderstanding of the Cunningham household. Her understanding of the Cunninghams are that they are not the sharpest tools in the shed. Her amazement is highlighted by the quote, â€Å"†¦he and Atticus talked together like two men, to the wonderment of Jem and me.† Again, later on in the extract, Jem does not understand that Walter is equally as human as she is. Once again Harper Lee presents the facts with a little innuendo which touches on discrimination which is basically the heart of the book. â€Å"He ain’t company, Cal, he’s just a Cunningham.† Another of Jem’s misunderstandings is the molasses incident. Again she cannot understand why Walter drenches his food in molasses. It probably will originate from Walter’s upbringing as a â€Å"farm boy†. Molasses was probably cheap as chips on the farm where financial difficulty was rife. The author however employs a skilful phrase used in the South of America when describing Jem’s amazement, â€Å"†¦what the sam hill he was doing.† Jem does however understand that Calpurnia is one coloured person who is educated. Jem realizes this by how good her grammar was during tranquility. Again there is a misunderstanding on Jem’s part. She generalizes by implies that most coloured folk are not educated. The author presents these facts in such a way that it touches a major theme of the book, misunderstanding. As Calpurnia sent Jem off with a smack, Jem remarked that she’ll go and drown herself in Barker’s Eddy. This stresses the fact that Jem does not understand the ways and means of discipline. The author presents Jem almost as a headstrong girl who just cannot accept that this coloured lady could tell her what to do and how to present herself. Once again Miss Caroline Fisher comes into play. Her strict accordance to the rules of the new teaching system does not allow Jem to read or write.

Computer Aided Learning: The way of the Future? :: Essays Papers

Computer Aided Learning: The way of the Future? As you look around at classrooms these days you may notice a trend. Computers are becoming more and more frequent each year. Teachers are using the latest technology to run power point presentations, streaming videos, and simulations that were never possible before. It ha becomes the new hallmark of teaching, allowing teachers to do more then ever thought possible. Companies have jumped on the bandwagon, selling aid to teachers and students. You can buy software for just about anything now a days. I know I had software for the SAT and ACT test that help considerably. But when do we have too much of a good thing? This is the debate that companies are going through, as well. Companies now have the choice of using normal human training or Computer-based training (CBT). Both have their advantages. Computer-based Training uses computer programs to teach without aid of a human instructor. Thus, you can get more people "efficiently" trained when they join the company, rather then waiting for the next training session. The premise of CBT, as stated by R. Scott Lawson in "Computer based training: is the next wave?", is an effective training medium. He goes on to say "Since the trainee directs his/her own progress through the material and actively participates by responding to prompts and questions, s/he pays greater attention to the subject matter." (Lawson sec.1 par.3) Also in this article Mr. Lawson describes the process of a CBT. The CBT gives a Pre-test. This test judge how much the trainee already knows on the subject matter. This pre-test helps the program customize itself for the trainee. Also test are taken to periodically to test the progress of the trainee. Another advantage of CBT is the bookmark feature. This allows you to stop and start the training at any time and get back to it later. Also you can customize your CBT program with company specific information, videos, and objectives. (Lawson sec. 2) The hopes of CBT are that the trainees retain the knowledge better then if taught by a human. In the article "Computer training vs. human instruction," by Holly Ann Suzik, Roger C. Schank was quoted as saying, "By and large, [human teachers] stand up in front of you and yak at you. And every body falls asleep. The sense that live humans are better teachers is a nice myth, because we don’t want to change.

Sacred Spaced Ap Art History

Throughout history, monuments have been built to show power, wealth, and even conquest. Depending on a cultures value and tradition, the types of monuments can vary from era to era. However, the construction of sacred monuments has predated from the times of the start of civilization in Mesopotamia to even modern day. People have always created buildings to show their faith, and to honor their gods. In Ashokan India and ancient Greece, the creation of sacred spaces was very common. The creation of the Great Stupa in India and the Parthenon in Greece both were built for the honor and worship for the respective god and goddess for both nationIn India during the rule of the Buddhist ruler Ashoka, the Great Stupa of Sanchi was commissioned. The Great Stupa was considered to be one of the greatest monasteries patriotisms to Buddhism. Even though it can be dated back to Ashoka’s reign, its consists of many buildings and parts that was made overtime and well beyond the time period of Ashoka. The dome of the stupa is roughly fifty feet high and is filled with earth and rubble. The stupa would hold relics of the Buddha himself where the people of india would come to as a pilgrimage.The people of India would enter through the gateways of the stupa, walk down a path called the lower circumambulation, and climb up the stairs to the secon level to walk the second circumambulation of the stupa. Buddhist ventured the relics of Buddha through circumambulations, which was walking around the stupa in a clockwise manner, following the path of the sun and brining the worshiper into harmony with the universe. The Great Stupa itself had more than six hundred inscriptions showing the donations of hundreds of individuals that made the building of the stupa possible.Ancient Greece was also known for extravagant temples honoring their Gods. The Acropolis found in Athens is another example of elevation in attempt to get closer to the divinity. The Parthenon was built for Athena, t he city’s patron goddess and also the goddess of War. The Greeks built this large temple to thank Athena for the Salvation of Athens after their victory in the Persian War. Inside, there once stood a thirty-eight foot high statue of Athena with a winged Nike in her hand. On her sandal, there was a depiction of the centauromachy. On her shield were scenes of both the amazonomachy and he gigantomachy. All of these were battles the Gods fought in during the Persian War. The columns of the temple surrounded the statue in a symmetrical way that emphasized Athena’s importance as the centerpiece. On the outside of the temple were about ninety different metopes depicting gods and goddesses and a 590 foot frieze on the inside. Greeks were proud of the Parthenon, not only because it was considered a piece of art, but because it was also significant of their victory over Persia. They worshipped to Athena all over the Acropolis and also sacrificed animals such as oxen, goats and s heep.Sometimes worship was held in the form of social festivities honoring Athena. Sacred sites were greatly influenced by the cultures of each era, and had a impact on the lives of the people. The Great Stupa, which was open to all of India, attracted many buddhists and was a center for prayer. In ancient Greece, the Parthenon was used to worship athens main deity, Athena, and served as a place of worship to other gods as well. It was placed on a higher surface to show its importance, and the Great Stupa engraved inscriptions of the people who donated to the construction of the temple to show appreciation.

Compare and Contrast Yakuza and the Triads

Crime in Japan also involves the Yakuza and the Triads. There are similarities between the Yakuza and the Triads. On the other hand, there are differences between the Yakuza and the Triads. the following paragraphs explain in detail the similarities and differences between the two organized crime groups. BODY: Similarities between the Yakuza and the Triads Both the Yakuza and the Triad were formed under a â€Å"family† styled program. The Yakuza was organized under a family relationship. The Yakuza is sometimes described as the Japanese mafia. The Mafia had a Godfather at the top and the other members of Yakuza are called brothers or children. The Yakuza goes even deeper with the implementation of the unique Japanese relationship described as â€Å"father role and a child role†. In the Yakuza, the ‘father' gives advice to the members in terms of protection and help. In answer, the members of the Yakuza group pledge unswerving loyalty to the Yakuza leader. The Yakuza member is called a Kobun. The Yakuza environment is filled with trust, loyalty and obedience to the Yakuza organization. The new members are expected to act as shields for their leaders by staying at the front in case of battles, conflicts with the law or otherwise. It is customary for the new members to take the blame and even go to jail for the oyabun's (leader's) crime. Likewise, the Triad members must support each other in times of good and in times of bad. This is how the real family works. Clearly, Both the Yakuza and the Triad were formed under a â€Å"family† styled program. Further, both the triads and Yakuza implement formal ceremonies to accept a new member. The Yakuza members drink a cup of sake to formalize entering into the blood connection between the ‘godfather' and the other members of the group. This is known as the oyabun -kobun or leader – follower relationship. The Yakuza ceremony is done in front of the Japanese god Shinto. The Triads also accept their new recruits in a ceremony characterized by the killing of a rooster, drawing blood from the new recruit's fingers and the new recruit's skin to symbolize a new blood relationship among its leaders and members . Evidently, both the triads and Yakuza implement formal ceremonies to accept a new member. Furthermore, both groups are characterized by a fraternal brotherhood. Each member of both groups support their leaders with their lives. Some people join the Yakuza or the triad because there is power in numbers. Both groups are engaged in illegal activities like guns, drugs as well as women trafficking . Surely, both groups are characterized by a fraternal brotherhood. Differences between the Yakuza and the Triads on the Other Hand. The Chinese Triad members in Hong Kong help each other in times of need in a less serious way than the Yakuza brotherhood. The Triad members are less strict in terms of organizational discipline than the Yakuza society. Not all Triad members are gangsters. Likewise, not all gangsters are triad members. Small Triad groups give undying loyalty to their leader. The members of the triad do favors for one another and engage in criminal activities together in a less formal relationship. On the other hand, the Yakuza members are bound by their pledge to protect the leader and implement the Yakuza laws to the letter. Undoubtedly, the Chinese triad members in Hong Kong help each other in times of need in a less serious way than the Yakuza brotherhood. In addition, the Yakuza is larger than the Triads. Today, there are more than eighty thousand Yakuza members around the world. Some Politicians in Japan hire Yakuza members to keep their political opponents at bay. The Yakuza owned nightclubs in China to real estate properties in New York. The Yakuza developed companies by rigging the juicy bidding processes to win many construction projects. Later, the Yakuza diversified its activities during the unprofitable economic bubble burst in the 1990s. The Yakuza racked up billions of U. S. dollars from loans that the banks could not recover during the bubble. The Yakuza has the money to hire the best lawyers and as many lawyers as it wants in order to pile up their winning streak many of their cases filed in the Japanese courts. The Yakuza has been spread its choke hold into many other countries including the United States. Over seven hundred forty offices were controlled by the Yakuza in the busy Tokyo scene . The Triad only operated in Hong Kong with its outstretched arms influencing its neighbors. Unquestionably, the Yakuza is larger than the Triads. Plus, the Yakuza originally operated in Japan whereas the Triad has been operating for more than one hundred fifty years in Hong Kong. The Hong Kong triad (now a province of China) is known as the Chinese Mafia. Today, the Triad is highly organized and has spread under a centralized underworld organization where it holds excessive criminal influence over Hong Kong and other other countries. Definitely, the Yakuza originally operated in Japan whereas the Triad has been operating for more than one hundred fifty years in Hong Kong. The Yakuza started out as a criminal organization whereas the Triad was founded one hundred fifty years ago as a legal organization. The Triad was established originally as a mutual aid association with the end in mind of resolving peacefully conflicts the migratory differences among the different groups in the southern regions of Fujian province in China during the eighteenth century. The Chinese triad are bound by their paramount subculture that involves powerful patriotism and unquestionable righteousness. Later, these subcultures were rooted out so that the new subculture of loyalty to the triad group and brotherhood would be wedged into the hearts of the triad members. currently, patriotism has been set to the burner because the triad had dropped down to its current criminal gang activities . On the other hand, the Yakuza started as a crime -engaging organization. The Yakuza continues to be a crime -engaging organization. Obviously, the Yakuza started out as a criminal organization whereas the Triad was founded one hundred fifty years ago as a legal organization. CONCLUSION: Crime in Japan also involves the Yakuza and the Triads. There are similarities between the Yakuza and the Triads. Both the Yakuza and the Triad were formed under a â€Å"family† styled program. Further, both the triads and Yakuza implement formal ceremonies to accept a new member. Furthermore, both groups are characterized by a fraternal brotherhood of lawlessness. On the other hand, there are differences between the Yakuza and the Triads. The Chinese triad of Hong Kong help each other in times of need in a less serious way than the Yakuza brotherhood. In addition, the Yakuza is larger than the Triads. Plus, the Yakuza originally operated in Japan whereas the Triad has been operating for more than one hundred fifty years in Hong Kong. The Yakuza started out as a criminal organization whereas the Triad was founded one hundred fifty years ago as a legal organization. Conclusively, there are similarities and differences between the Yakuza and the Triad. Works Cited Chu, Yiu Kong. The Triads as Business. London: Routledge, 2000. Gilmer, Lillian Roe. â€Å"Japan's Communications Interception Act: Unconstitutional Invasion of Privacy or Necessary Tool?.† Vanderbilt Journal of Transnational Law 35.3 (2002): 893+ Hill, Peter B. E. The Japanese Mafia: Yakuza, Law, and the State. Oxford: Oxford University Press, 2003. Kaplan, David E., and Alec Dubro. Yakuza: Japan's Criminal Underworld. Berkeley, CA: University of California Press, 2003.

Language of Robinson Crusoe Essay

Daniel Dafoe’s popular novel, originally titled The Life and Strange Surprizing Adventures of Robinson Crusoe, of York, Mariner: Who lived Eight and Twenty Years, all alone in an uninhabited Island on the Coast of America, near the Mouth of the Great River of Oroonoque; Having been cast on Shore by Shipwreck, wherein all the Men perished but himself. With an Account how he was at last as strangely deliver’d by Pyrates (iii), like most classics underwent many editions through the years. However nothing but the first edition, which is the basis of this essay, can give us the look and feel of the time as intended to be shown by the author. EARLY MODERN ENGLISH According to Volume 14 of The Cambridge History of English and American Literature in 18 Volumes, Early Modern English period marked the expansion of the use of the English language outside England. But since English was spread at various times it has been subjected to different influences and additional variations caused by attempts at etymological spelling (Ward et al ch 15 sec 3 par 1). These were evident in the novel in two aspects of language: grammar and vocabulary (Ward et al ch 15 sec 1 par 1-2). Among the inflectional changes during the early modern English was the dropping of the weak vowel in verbs ending in –ed (Ward et al. ch 15 sec 4 par. 7). Examples of these manifested not only in the title (the word deliver’d) but within the text itself such as call’d, fill’d, encreas’d, and fatigu’d. Spelling also appeared to be phonetically defective (Ward et al. ch 15 sec 3 par. 1) with words like perswasions, lyon, lye, and prophetick. Compounding of words were also used in the novel by examples of free-school, hand-maids, ground-tackle and fellow-slave. However, the change in the verbs as well as the defects in spelling was not applied to the entire novel which makes us consider the reasons for such use. TOWARDS A PURITY IN STYLE Daniel Defoe, in his book An Essay upon Projects, emphasized that it was the responsibility of the society to polish and refine the English tongue and to purge it from all the irregular additions that ignorance and affectation have introduced as befitted the noblest and most comprehensive of all the vulgar languages in the world (8). The spread of the English language was depicted in the novel when Robinson Crusoe teaches his servant Friday the English language. We may notice from an excerpt of their discourse below that although essentially Crusoe and Friday came to communicate effectively with each other, Friday’s English differs much from Crusoe’s parallel to their difference in status and origin: Friday, My Nation beat much, for all that. Master, How beat; if your Nation beat them, how come you to be taken? Friday, They more many than my Nation in the Place where me was; they take one, two, three, and me; my Nation over beat them in the yonder Place, where me no was; there my Nation take one, two, great Thousand. Master, But why did not your Side recover you from the Hands of your Enemies then? Friday, They run one, two, three, and me, and make go in the Canoe; my Nation have no Canoe that time. (Defoe, â€Å"Robinson Crusoe† 254) Much is the same circumstance that brought about the variations and additions to the English language in which Defoe is clamoring for purity (â€Å"An Essay upon Projects† 8). Shoar and Shore. Aside from the defective spelling mentioned earlier is the variation in the spelling (Ward et al. ch 15 sec 3 par. 1). An example if this is the word shore, spelled shore and shoar, in different context of the novel. It may be noted that shoar was only used in the part of Robinson Crusoe’s mishaps. That is to say, from the part of his captivity at Sallee until before his wreck on the island. These mishaps, Crusoe later reflected on, were results of his ignorance in the Providence of God and malcontent thus the use of the spelling shoar. While his solitary life in the island described the learning process he underwent to survive and finally live harmoniously with his surroundings; hence the renewed use of the spelling shore. In this regard, one may interpret that the use of the word was intentional to show the need and difficulty in creating a standard for the English language. viz. and (viz. ). The use of foreign language in novels is quite common throughout the ages. As such, we came to attention on the use of the Latin word viz. Oxford English Dictionary defines viz. as the abbreviation of videlicet which generally means namely or that is to say (1033). Although Defoe used viz. without parenthesis and viz. in parenthesis based on the same definition, its participation in the statement are quite different. The viz. without parenthesis was used in identifying and qualifying statements such as the â€Å"All the rest of that Day I spent in afflicting my self at the dismal Circumstances I was brought to, viz. I had neither Food, House, Clothes, Weapon, or Place to fly to†¦Ã¢â‚¬  (â€Å"Robinson Crusoe† 82). On the other hand, viz. in parenthesis, which appeared in lines like â€Å"This was what I wish’d for; so I took them up, and serv’d them as we serve notorious Thieves in England, (viz. ) Hang’d them in Chains for a Terror to others†¦Ã¢â‚¬  (â€Å"Robinson Crusoe† 138), was used as such in order to explain earlier statement. The use of parenthesis to differentiate the use of the same word in the novel further reflects Defoe’s quest for refinement of the English language as mentioned previously. CONCLUSION Indeed, regardless of the plot of the story which categorized it to fiction, the culture and language of the time is unmistakable. Robinson Crusoe, in its original version, allows us the indulgence to peek and appreciate not only the early modern English language but the period as well. The flexibility of the language then reflected the society of that time as it has always been for any period or era. At the same time, the novel provided additional venue for the author to disseminate his ideas and further his individual attempt towards the transition to the modern English language and insertions to the importance of learning across the spectrum of the society. Such power language has to influence its readers, whether consciously or unconsciously. And the duality that the novel showed made it a favorite among children and adults alike. Fulfilling its objectives to entertain and propagate (however subtle it may be). Works Cited Defoe, Daniel. An Essay Upon Projects. New York: Adamant Media Corporation, 2005. Print. —. The Life and Strange Surprizing Adventures of Robinson Crusoe, of York, Mariner: Who lived Eight and Twenty Years, all alone in an uninhabited Island on the Coast of America, near the Mouth of the Great River of Oroonoque; Having been cast on Shore by Shipwreck, wherein all the Men perished but himself. With an Account how he was at last as strangely deliver’d by Pyrates. London: printed for W. Taylor, 1719. Print. Oxford English Dictionary. New York: Oxford University Press, 2005. Print. Ward, Aldolphus William, Sir, et al. The Cambridge History of English and American Literature. New York: G. P. Putnam’s Sons, 1907-21; New York: Bartleby. com, 2000 (Web) April 1, 2009.