Choose a journal article from your subject area. Examine it using the Essay

Choose a journal article from your subject area. Examine it using the following - Essay Example This student also expected that Churchill devoted many of his speeches on foreign affairs more than Gladstone, since the former lived during the times of two world wars and other wars. The startling results are that both Churchill and Gladstone devoted majority of their speeches on domestic affairs and that Churchill gave less Parliamentary speeches than Gladstone. Apparently, the media does not project Churchill as a domestic statesman. This essay aims to review the strengths and weaknesses of the methods and sources of data of this article, using several respectable books on political and social science research. The methodology for Meisel’s (2000) research is quantitative. He rejected rhetorical analysis because of his research goals that emphasise learning through the numbers. He believed that numbers could provide greater information on â€Å"the overall patterns and underlying structures of Gladstones and Churchills speech-making† (263). To examine Gladstone’s speeches, Meisel (2000) used Arthur Tilney Bassett’s index of speeches. Bassetts index included the date, place and subject of almost all of Gladstones acknowledged speeches inside and outside parliament (Meisel, 2000: 271). For Churchill, similar categories of information can be obtained from Churchills Complete Speeches and Robert Rhodes James’s collection of Churchill’s speeches. After that, Meisel (2000) examined the individual speech productivity of these statesmen, before he compared and contrasted the speech content and locations of Churchill’s and Gladstone’s speeches. The strengths of the quantitative methodology are ability to provide accurate measures of productivity for comparison purposes, and statistics could be compared to deduce changing political directions and events. The sources of this article were able to provide information about the

The significance of British Board of Film Classification in British Essay

The significance of British Board of Film Classification in British Film Industry - Essay Example From a social perspective, such contents are considered as inappropriate to some segments of the prospective audience, especially children. Thus, it becomes necessary to classify movies into certain categories so that the audience can be guided as to which movie is suitable for viewing by a specific group of individuals. In this context, it is relevant that viewing of inappropriate content, especially scenes depicting graphic sex or violence, frightening images and coarse language etc can negatively impact children who are in the developmental stage. Young children as well as teenagers also have a tendency to try or imitate what they view on the movie or TV screens. Besides, they also lack the maturity and intellectual as well as psychological faculties to take informed decisions about what is proper or distinguish the real from what they view on the screen. Therefore, from a sociological perspective, it becomes the responsibility of not only the parents but also the society and gove rnments to ensure that art forms do not expose children and teenagers to inappropriate content. Thus, movie rating or classification has come into practice, with a view to â€Å"help parents to protect children and teenagers from inappropriate contents† (Rating the Movies 2010). ... Therefore, a general need was felt to implement a standard procedure for classifying the movies being produced in Britain, through a single regulatory authority. Thus, the film industry of Britain instituted the British Board of Film Classification (BBFC) in 1912, as an â€Å"independent, self financing not for profit media content regulator† (Mission Statement 2011), with a view to make them act as a trustworthy guide for the public in advising them about the suitability of the content for specific segments. This organisation has â€Å"exercised responsibilities over cinema† classification for about 100 years and for videos for about 27 years from 1985, pursuant to the Video Recording Act 1984, passed by the parliament (Student’s British Board of Film 2005, p. 1). According to their mission statement, they seek to function as a labelling service provider, for media content, whose main objectives are as under: - a) Prevent the public especially children, from exp osure to â€Å"content which might raise harm risks† (Mission Statement 2011). b) Help the public in general, and parents in particular to â€Å"make informed viewing choices† (Mission Statement 2011). c) To ensure that â€Å"adult freedom of choice† (Mission Statement 2011) is honoured while adhering to relevant laws on the subject. d) Take into the consideration the changes occurring in â€Å"social attitudes towards media content and respond to them through consultation with the public as well as appropriate research† (Mission Statement 2011). e) Working within statutory constraints to facilitate a â€Å"cost effective, efficient classification service† (Mission Statement 2011). f) Maintain a close rapport with the film

Cultural Event Report Essay Example | Topics and Well Written Essays - 500 words - 27

Cultural Event Report - Essay Example Being the first Saturday of the month no admission fee was being charged (Corsane 29). The architecture and art involved in the design of the Denver art museum was magnificent. The entrance was enough to judge what was to expect. One by one we found ourselves into the museum with lots to expect from the visit. The art work at Denver art museum included traditional arts, sculptures, photographs, paintings, glass art. The arts include Asian collection. I will describe some of the arts found in the Denver art museum. Information gathered showed that the museum was founded in the year 1918, after Denver art association a section of Denver artists club was renamed to the now Denver art museum. My first visit was in the African gallery and it had a lot to offer they included a mask from Gabon referred to as ‘Fang Ngil’ was curved from wood and fiber. Used during the pre-colonial period during initiation ceremonies (Corsane 56). The second stop was the African art in music in that number of instruments used during the pre civilization error. The most eye catching African collection was that from the Yoruba, first the ijebe a two curved sculpture one with a female figure and the other with a male figure they are believed to prevent thunder. I then moved to the American Indian collection on the level two of the museum building, first the pueblo collection, the foot of the pueblo tribe, painting by Irving Couse which portrayed an indigenous American Indian with full native attire. The next was the mud rolls on, a well created. a curving of a woman with one white another black, one red and a yellow one they represented the generational change and different culture and variety of races I then visited the modern photo exhibitions and paintings from all over United States of America and the entire world, they included Charles Sandison collection. Being a video projection its display was magnificent .Also Herbert Bayer painting was on exhibition. The painting

IKEA Stores Layout and Sizes Assignment Example | Topics and Well Written Essays - 2500 words

IKEA Stores Layout and Sizes - Assignment Example It was impressed upon his young mind that the most should be made out of the limited resources and that the essentials of modern living may be acquired at reasonable cost. From the time he set up his first business in the 1930s and registered as IKEA in 1943, Kamprad’s overriding strtegy was to adopt every cost-cutting solution that did not compromise quality and innovative ideas (Ikea.com, 2012). The diagram that follows shows IKEA’s key strategic thrusts by which it seeks to flesh out Kamprad’s vision. Central to the strategy is the simple and creative design which is well-received by the market; it is distributed through large stores with a wide range of products, all priced inexpensively, designed in flat packs, and requiring customer assembly. IKEA’s Strategic Direction (http://sites.google.com/site/faizahmadali/IKEA.JPG) The manner by which the stores provide customer accessibility to a wide selection of useful products, and the manner by which the p roducts are inexpensively priced, easily stored and transported through flat packed boxes, and engage end-user participation in their assembly all contribute to customer engagement through low cost, durable quality, and aesthetic appeal. 2. Three organizational tensions, and how the strategic direction addresses them. The diagram on the next page shows a strategic map of the company, identifying in blue the central goal of providing furniture and accessories for the home, the four principal strategic objectives arranged in a square around the goal, and the elements that support the goal and objectives. http://www.monografias.com/trabajos89/strategy-michael-porter/image011.jpg The elements that contribute to the realization of the objectives or goals provide clues to various organizational tensions between the firm and its stakeholders, due to factors both internal and external to the organisation. By tension is meant the existence of clashing interests between stakeholders and the c ompany. For IKEA, some customers have taken issue with (and even ridiculed) the manner by which IKEA products presume the customers’ adequate capability in assembling the product. This creates tension in the need to design easy-to-assemble units vis-a-vis the need to engage customer participation in the assembly process. Internal IKEA store layout featuring products’ flatpack design (Facenda, 1999) A second source of tension is the need to create a variety of designs, which clashes with the need to reduce manufacturing costs. Ordinarily, cost reduction is best achieved through product standardization, rather than product diversification needed to produce a variety of products . By seeking to diversify but at the same time mass-produce, tensions are created between the production unit of the firm and the marketing unit which identifies the variety of product lines offered in IKEA stores. Finally, a third source of tension is in the size of IKEA stores and its repercussi ons upon the community. The size of IKEA stores are as a rule large enough to enable customers to access all possible

Depression Causes and Treatment Essay Example | Topics and Well Written Essays - 3000 words

Depression Causes and Treatment - Essay Example The present research has identified that depression is one of the most common illnesses in today’s world. However, it is also one of the most difficult to study, understand, and treat. The reason depression is such a tricky customer is that its geneses are very hard to pinpoint. Unlike other mental afflictions, which present clear symptoms and prognoses, depression manifests in ways that are difficult to diagnose immediately. For example, psychologists have stated that most depressed people are not even aware of their condition. In addition, depression is a symptom of some mental illnesses; therefore it is very easy to misdiagnose it. Amidst all this ¸ it is important to consider the individual causes of depression. Is the environment all to blame, as most people believe, or is there a personal dimension to depression? Can individual behavior, conditions, or attitude trigger depression, or are external factors the only suspects? These questions will form the spine of this pa per and will guide the arguments presented for and against the subject, as well as the conclusion. Hippocrates said that â€Å"food is medicine and medicine is food.† This might explain the connection between depression and nutrition because depression is an illness that affects the body as well as the mind. It is important to note that nutrition is closely linked to hormonal balance, and hormonal balance is associated with good moods and lack of depression (in both genders). Depending on the types of food people eat. Their hormones can be balanced or imbalanced, and this can have adverse effects on their moods. Research shows that the brain and the gut are always in touch with each through the vagus nerve. There is more evidence to show that there is a correlation between depression and obesity. Obesity raises the probability of developing depression and depression is symptomatic of progressive obesity. Studies show that most women eat more when they are depressed or emotion ally stressed.

The Effect of Deregulation Policies Essay Example for Free

The Effect of Deregulation Policies Essay 1.1 Background of the study Organization, corporations or establishment, just like the governments are governed by rules and regulations, in the same way every economy set out goals, which it achieves, through various means. Vibratory and fiscal policies are the stimulant to any nation economic development, especially with regards to Nigeria. However, in this study, the attention of this is mainly on the influence of deregulation on banks profitability in Nigeria. The discussion on the deregulation can be effectively carried out without understanding what monetary policy is all about. In this content, monetary policy could be defined as a policy which deals with discretionary control of money supply by the monetary authorities in order to achieve stated economic goal of society. The performance of the Nigeria economy has on the decline for a long time now. However the central bank has been issuing series of policies through which she tries to stabilize price in the country. The central bank which came into operation since 1959, has introduced monetary measures for the achievement of the national economic objectives, which range from the maintenance of a health balance of payment control or moderation of inflation through the acceleration of the peace of the economic development to the stabilization of the exchange rate of naira with foreign currencies. Deregulation could be defined as the removal of the unnecessary control which tends to inhabit or prevent the effective and efficient programme of economic and business activities. The regulators and deregulation in the banking sector/ industry have favored some banks while some other banks could not stand the weir of constant changes in the monetary and banking policies. However, deregulation goes with its merit which includes; the removal of inhibiting controls on economic activities, encouragement on investment and assurance of efficient allocation of resources. Over the years, Nigeria economic has witnessed changes in its economic policies. These changes have been carried out by the government and the monetary, growth and development these changes in policies have taken different sectors of the economy, directly including the banking industry. The financial sector and the banking industry in particular, due to its critical position and functions in the economy, have been the major focus of economic reforms. Reforms in the banking industry have taken the form of regulation and presently deregulation prior to 1952: banking industry was devoid of government interference this period regarded by financial operation and analysis as the era of free banking. It was characterized by free entry and exit with minimum of regulated of activities of operations. However, the laissez fair attitude contribution to early bank failure experienced in the industry between the activation of banks given its role as financial intermediaries (claiming saving to investments) in order to build a second and viable financial system. Also, regulation is used to correct distortions in the pricing mechanism of market forces. The country of the activity of the Nigerian banking industry stated with the enactment of the banking ordinance of 1952, which was followed by the central bank act of 1958, the exchange control act of 1962 and the banking act of 1969, the aims of regulation and economic efficiency and effective allocation of resources sometimes, the aims are not fully realized and experience has shown, especially in developing countries, that exclusive control by the stagnation. This is what happened in Nigeria in the early 2008 when the country was facing economic crisis of general rise in price of goods and services, unemployment, external debt problem , fall in total output and dividing revenue caused by fall in oil price. In other to overcome these economic crisis the country in 2007 to 2009, adopted a form of structural adjustment program (sap) with the objective of sustaining economic growth and development, price stability, exchange rate stability, prevention of unemployment and appreciable if not level of employment. These objectives were to be achieved through a determined price system and deregulation of economy. Deregulation is regarded as a major policy or strategy for revitalizing the economy. This is based on the fact that determination which embraces the removal of inhabiting controls on business and economic activities, will encourage competition, increase the level of investment and efficient allocation of resources. The financial sector and the banking industry in particular regarded as the oil that keeps the wheels of economy moving, has continued to experiences the force of deregulation in different areas of it operations. The deregulation of the industry started in 1987, with the liberalization of interest rate. The reform exercise has affected other areas of banking activities, against this background. The study will focus on the deregulation on the banking industry, process of deregulation, dimensions of deregulation, evaluation of reforms and effects on the banking industry. In the process of analysis, reference will be on the zenith Bank plc and Diamond Bank plc. 1.2 Statement of the problem: The banking industry, due to its intricate nature has been encountering problems, such as capital inadequacies, excessive liquidity, bank distress and subsequent legibility in order to minimize and eradicate most of these shortcomings there have been constant manipulations of strategies with the aim of strengthening the base of the banking industry. To overcome the above mentioned problems, then these questions will be considered:- i. How has regulation and subsequent deregulation affected the performance of the banking industry? ii. Have the banks performed better in term of profitability maximization of customer’s welfare and shareholders wealth as well as affected the economy positively under deregulation. iii. Should deregulation be supplemented with regulation in order monetary authorities to be able to achieve their aim and objective? In other to achieve the government objectives, monetary policies and other banking regulations must be implemented. The banking industry which is a major participant in the implementation of government regulation and deregulation faces some problems in its performance which for their study is measured in terms of profitability. This research therefore is to evaluate the impact of deregulation policies on profitability of banks in Nigeria. 1.3 Purpose of the study. The writers want to ascertain the effect of deregulation on the performance of banks, particularly on their profitability. The study will deal at length with the various Operational component of the banking activities which deregulation has affected. The study is aimed at i. Investigating the need for changes in banking deregulation policies. ii. Investigating the range of policies, that has been implemented within the period of study (1999-2009). iii. Determine the instruments of banking deregulations that should be used to ensure profitability and growth in the banking industry. To enhance the study, zenith bank plc and diamond bank plc will be used as reference banks. 1.4 Statement of hypothesis Ho: Deregulation has no direct effect on banks profitability H1: Deregulation has direct effect on banks profitability. 1.5 The scope of the study. The study covers the period of deregulation in the country but with in- depth study of what happen in the banking industry between 1999-2009. The activities of the supervisory and regulating authorities, during their period will also be examined, As well as how deregulation of the industry has affected profitability of the banks. The commercial banks selected for study are zenith bank plc and diamond bank plc. The choice of this bank is necessary since they have passed through all the area of banking policies in the country. 1.6 The significance of the study. Banks, be they commercial, deregulation or mortgage in every economy, ensure that profit is made through their credit facilities, as a result of the prevailing regulations, instituted by the regulatory authorities. This work will go a long way by helping the banks know the appropriate time to give loans. Also, it is the belief of the research to the already existing literature on the impact of deregulation policy on the profitability of the banks in Nigeria. Moreover, this work will have positive influence on educational studies and will aid other researches 1.7 Definition of terms i. Deregulation: is the removal or simplification of government rules and regulations that constrain the operation of market forces. In other word is the reduction or elimination of government power in a particular industry usually enacted to create more competition within the industry? ii. Policy: a policy is typically described as a deliberate plan of action to guide the decision and achieve rational outcome. iii. Profitability: profit generally is the making of gain in business activity for the benefit of the owners of the business. iv. Banks: a bank is a financial intermediary that accepts deposit and channels. Banks are a fundamental component of a financial system and are also active player in an economic. v. Economy: Economies consist of the economic system of a country or other area, the labour capital and land resources, and the economic agent. vi. Rationale: the term rationale may refer to as the explanations on the basis or fundamental reasons for something. A justification or rationalization. vii. Interest rate: an interest rate is the price a borrower paid for the use of money they borrow from the lender, for instance a small company might borrow capital from bank. viii. Structural adjustment program: is an economic policy which countries must follow in other to qualify for new World Bank and international monetary fund CHAPTER TWO Literature Review 2.1 Introduction Over the years many outstanding scholars have conducted extensive studies on deregulation policies and financial system. In this chapter the researcher discusses briefly some of existing literature on deregulation policies and financial system. This chapter covers the overview of the Nigeria financial system, the Nigeria Banking system, an overview of commercial banking in Nigeria, problem of deregulation policies and lot more. 2.2Overview of the Nigeria financial system. The Nigeria financial system could be seen or defined as a set of rules, regulations, financial arrangements, institutions, agent and other mechanism whereby they relate to each other within the financial sector and the rest of other sectors of the economy†. Furthermore, financial system could be defined as a conglomerate of various institutions, market, instruments and operations interact within any economy to provide financial services (CBN 98/06 pi). These services provided may include resource mobilization and allocation, financial intermediate trade among others. In Nigeria, the financial system has undergone remarkable changes in terms of ownership structure, the instruments employed, the number of institution established, the economic environment and the regulatory framework within which the system operates the Nigerian financial system is made up of regulatory/supervisory authorities as well as banks and non-bank financial institutions. The federal ministry of finance(FMF), central bank of Nigeria (CBN), Nigeria deposit insurance co-operation (SEC), national insurance commission (NIC), federal mortgage bank of Nigeria (FMB.N) and the national board for community banks (NBCB) are the regulatory and supervisory authorities, in Nigeria through the CBN report to the presidency through the federal ministry of finance in all monetary matter it has effectively assumed the leadership of all banking institutions in the financial system. To this effect, the CBN has the responsibility for the control and supervision of all commercial, merchant and co mmunity banks, people banks finance house, development banks and all discount house and other (ibid ppi-2) In recent times, the Nigeria financial system has witnessed some changes. Among these changes were financial malpractices in banks decree no.8 of 1994. The decree was promulgated to facilitate the prosecution of those who contribute to the failure of banks and to recover the debits used to the failed banks. Also, the inauguration of the financial services regulatory coordinating committee (FSRCC) by the central bank of Nigeria in 1994 to coordinate and standardize the regulatory policies of all financial institutions in the system. This committee is to ensure some level of co-operation among the regulatory agencies. However, in 1995 above, three (3) decrees were promulgated to further regulate the financial system. These were the money laundering decree, the Nigeria instrument promotion commission decree and the foreign exchange (monitoring and miscellaneous provision) i.e Decree no.3, no16, no17 respectively. The aim of decree no.3 is to prevent drug money and other illegally required asset from entering into the financial system, so that the damaging effect of such monetary injection is forestalled. This decree stipulated limited amount of cash dispositions or payment to be made or accepted in our banks to N500, 000 (five hundred thousand Naira) for an individual and N 2,000,000 (two million Naira) for a corporate entity, unlike the institution before this decree when one was forced to pay in or withdraw any amount of cash from the bank. The Nigerian investment promotion commission is challenged with the responsibility of encouraging. Promoting and co-coordinating investment activities in Nigeria. The commission is also empowered to institute and support the measures that would enhance the investment conditions for both Nigeria citizens and foreign investors too. On the other hand, the foreign exchange decree no.17 answers the CBN with the approval of the finance minister to issue guideline to regulate the producers for transaction in the ministry to market as well as other matter, which may enhance the effective operations of the market. The decree provides for any convertible foreign currency to be traded in the foreign exchange market. In 1994, the central bank of Nigeria –CBN decree no25 both of 1991 was amended. This includes the withdrawal of autonomy of the CBN with its supervision placed under the federal ministry of finance. The power of the CBN over the financial system was enhanced by this decree. This decree, also fixed the minimum capital requirement of both commercial and merchant banks at a uniform level of N 500m.(five hundred million naira) instead of the former N50m (Fifty million Naira) and N 40m (forty million naira) for commercial and merchant banks respectively. In addition, the Nigerian deposit insurance corporation (NDIC) decree no 22 of 1988 was amended to give more power to the corporation to deal with insured banks and act independently of CBN on matters affecting banks. 2.3 The Nigeria banking system Many countries of the world have for a long time now recognized the importance of banking services in the promotion of economic growth. In fact, to have a firm control of the economy, the entire financial system must be under control. In this order, a body, an entity or an agency must be in charge. In Nigeria, the central bank of Nigeria-CBN is the main organization that supervises the operation of the financial system; the CBN act of 1958 commenced its operations on 1st July, 1959 with the sole aim of making the monetary policies of the country. The CBN is the apex bank, the lender of last resort, banker’s bank, and it is responsible for the regulation of the entire banking operations. All these functions and more are being performed with directives from the presidency through the federal ministry of finance and in collaboration with Nigerian deposit insurance corporation (NDIC). One of the principle objectives of the CBN is to promote monetary stability and soundness of the financial system. To actualize this, CBN conducts regular supervision and examination of banks as a means of maintaining surveillance on banking operation to ensure compliance to decree spelt out by the industry authorities (CBN 2007). On the hierarchy of monetary management, the apex bank (CBN) comes first, then followed by other banks. These banks include commercial banks, merchant banks, development banks, people’s bank and community banks, amongst others. The peoples banks, has continue to increase in number from the date of establishment and as at 1996, the number of branches has come up to 175. The micro-finance bank is a self-sustaining or a group of communities. All the community banks are under the regulatory supervisory control of started in December 1990. As at 1996, the central bank of Nigeria (CBN) had given provisional license to 1366 community banks. The above is an x-ray of the banking industry in the country. An overview of commercial banking in the country is therefore relevant for a thorough understanding of the research. 2.4 An overview of commercial Banking In Nigeria A commercial bank could be defined according to section 41, subsection (1) Of the Nigerian banking decree of 1964, and paragraph (a) as â€Å"any person who transacts banking business in Nigeria and whose business includes the acceptance of deposits, withdraws able by cheque† The possession of a valid license duly granted by the commission of companies, duly incorporated in Nigeria is also a prerequisite for the transaction of banking business. Commercial banks are dual intermediaries in the domestic and international spheres. At the domestic level, the banks mobilize fund from the surplus sector or unity of the economy and at the international level, they provide the channel through which foreign exchange is transferred to or received from other countries of the world in the settlement of international transactions. Commercial banks are different from other banks because of the nature of services they render to their customers, which commercial banks started operation in 1982 and performed some functions. These Functions include acceptance of deposits, granting of loans and advances, the operation of payment and settlement mechanism. Merchant bank on their own are wholesale banks that take deposit and carter for need of corporate and institutional customers. Their main role is to provide a medium for long term financing by engaging in a activities such as equipment, leasing, loaning, syndication, debt factoring project financing. The first merchant bank in Nigeria is the Nigeria acceptance limited (NAL). This bank started operates in 1960. However, by December, 1996, there were about 51 merchant banks, with about 147 branches nationwide, while their total asset amounted to 111,206.9million compared with 91,803 million in 1995 (CBN OPP.5). On the other hand, the development bank in the country including the Nigeria Industrial Development Bank (NDIB) was established in 1964 to provide credit and other facilities to industries, especially to medium and large scale enterprises. The Nigeria bank for commerce and industry (NBCI) come into existence as a result of the promulgation of decree 22 of 1973, with the aim of developing indigenous enterprises particularly, the small and medium scale once. The Nigeria agriculture and commercial bank was established in 1973 mainly to financed agricultural development project and allied industries, Decree No22 of 1990 establish the people’s bank. The bank was ear-marked by the federal government in 1988 budget with an initial allocation of N 30m, through with legal statute in 1990. The bank was established to meet the credit needs of small borrowers who cannot satisfy the stringent collateral requirement being demanded by other banks. Other banks cannot do. These are the acceptance of saving account, current account and fixed deposit account from individuals, retail and corporate customers and the payment and collection of cheques. The service which commercial banks and other banks perform includes discounting of bills, undertaking of executorships and trustee services, safe custody of securities and other valuables. Commercial banks in the country have continued to dominate banking sector accounting for 82.6% and 90.4% of the banking industries total asset and deposit liabilities, respectively in 1996. The introduction of the structural adjustment programme (SAP) in 1987 brought about the establishment of many banks in the country and made banking business a lucrative nature. As at 1996, there were about 64 commercial banks in Nigeria with 2,402 branches as against 30 banks with 2397 in 1986. (CBN OPCIT P, E).The reason for this rapid growth is due to the introduction of SAP which led to the gradual deregulation of the economy. The increased number of banks notwithstanding, a significant proportion of the liabilities and assets of all commercial banks in Nigeria are still in the hand of 3 big banks (first bank, union bank, zenith bank and).since the event of global meltdown, they are the only banks in Nigeria capable to declared dividend. The control of the banking sector is in their hands and the rate at which they feel the impact of the monetary policies, bank regulation and deregulation would range from those of the smaller banks and the new generation banks. 2.5Monetary Policies in Nigeria Monetary policies could be seen as one of the policy tools available to the managers of the economy. It involves the variation in credit conditions- cost availability, impact with a view to achieving the economic objectives such as price stability that is prevention of inflation or deflection (as the case may be), economic growth and development, balance of payments equilibrium, high level of employment and equitable distribution of income. In other words, monetary policy could be defined as the regulation of the supply of money and bank credit for the promotion of selected economic objectives. According to Hanson (2007) â€Å"The purpose of monetary policy is to influence the supply of money in order to expand or contract the volume of the purchasing power in the volume of the purchasing power in the country. He went further to say that an increase in the volume of purchasing power is expected to stimulate demand and investment, increase output and reduce unemployment. The policies used by each country are varied in accordance with some economic laws, aimed at steering the economy towards a desired direction. However, these and other government directives or pronouncement are among the banking and deregulation policies.

Charlotte Haze

Charlotte Haze Literature is not solely a method of entertainment. It is also used to expand a readers mind by allowing them to enter a different world. To do so, a reader will often have to suspend their disbelief. It is very rare that one must question what he/she is reading. Vladimir Nabokovs Lolita is the confession of an erudite European intellectual with an obsessive desire for nymphets-girls between the ages of nine and fourteen who are, as he judges them, sexually aware. In Humbert Humberts confession, he admits to the years of molestation of a young girl referred to as Lolita (Dolores Haze). This confession is written by him while awaiting trial for a seemingly unrelated murder. At the end of the novel, Humbert states that the murder he committed was an act of love and he rationalizes not only his violence but his pedophilia. Although the confession seems free-flowing and a spur of the moment decision on the part of the narrator, how does Nabokov indicate that Humbert Humbert is an unrelia ble narrator through the use of literary devices and linguistic patterns in Lolita? Despite Humbert Humberts horrid crimes, his language and wordplay make for a more pleasant reading experience than one would expect. Through the use of characterization, diction, and comparison and contrast, Nabokov suggests that Humbert is unreliable and knowingly writes a tale that paints himself as a victim of circumstances. Characterization: As Humbert Humbert is the narrator of the novel, he characterizes the individuals in the story. No second opinions are presented; therefore the reader is given a one-dimensional interpretation of each character. There are clues in the novel that suggest Humberts descriptions are biased in his favour, including the rapid changes in the characters personalities and the tone in which they are described. Humberts descriptions of Charlotte Haze, in particular, change significantly as the story progresses. Charlotte, Lolitas mother and Humberts eventual wife in the novel, is a middle-class American housewife who aspires to be sophisticated and cultured. Her relationship with her daughter is strained as she focuses all her attention on accommodating her lodger Humbert Humbert, who finds her intolerable and simply wants access to Lolita (Dolores Haze). During the beginning of the novel and the beginning of their relationship, Humbert refers to Charlotte simply as the Haze woman. His disgust and aggravation is apparent even at the mention of her presence. When first describing Charlotte to the reader, Humbert states: I think I had better describe her right away, to get it over with. She was, obviously, one of those woman whose polished words may reflect a book clubbut never her soul; women who are completely devoid of humour (Nabokov 37). His dislike for Charlotte is made clear from the m oment she is introduced to the reader; however Humbert continues to point out her vulgarity and lack of sophistication. One night, while secretly fondling Lolita on the front porch, Humbert writes: [Lo] fidgeted a good deal so that finally her mother told her sharply to quit it and sent [her] doll flying into the dark (Nabokov 46). Charlottes behaviour seems over-the-top and disdainful. However, it is interesting that whenever Humbert has any inappropriate contact with Lolita, he follows quickly by writing of Charlottes contempt towards her daughter. After his contact with Lolita on the front porch, he quite sarcastically writes the following excerpt: [Lolita] had been spiteful, if you please, at the age of one, when she used to throw her toys out of her crib, so that her poor mother should keep picking them up, the villainous infant. Now, at twelve, she was a regular pest, said Haze. Her grades were poor. Of course, moodiness is a common concomitant of growing up, but Lolita exagerrate[d]. Sullen and evasive. Rude and defiant (Nabokov 46). Although expressing Charlottes frustration with her daughter, the speech is not a direct quote from Charlotte indicating that Humbert is paraphrasing what she has told him. This harsh-toned speech seems to be a convenient ploy on the part of the narrator to distract from the fact that he took advantage of a young girls trust for his own physical gratification. In fact, throughout the novel, Humberts abuse of Lolita is followed by negative dialogues from the other characters. Nabokov seems to suggest that Humberts confession is well thought-out and biased in his favour. It seems the narrator wants to justify his actions. After Lolita tags along to a shopping trip with him and Charlotte, Humbert quotes her mother as saying: It is intolerable that a child should be so ill-manneredwhen she knows she is unwanted (Nabokov 51). While they are driving, Humbert takes advantage of Lolitas proximity to hold, stroke, and squeeze [her] little paw all the way to the store (Nabokov 51). Humbert use s Charlottes contempt towards Lolita to justify his affection towards her. Although this physical contact is outwardly innocent, Humberts intentions are clearly pedophilic. It is by characterizing Charlotte as unmotherly and unkind that Humbert tries to gain the readers sympathy. He portrays himself as a father figure providing a mistreated girl with love. Before her death in the novel, Charlotte is portrayed as a brutal, unloving mother. However, after she is accidently killed, Humbert is free to parent Lolita. After he collects Lolita from the summer camp she was forced to attend, one notices the change in the tone he uses to address Charlotte. Lolita, since returning from camp, has remained troublesome and moody. After Humbert has consummated his relationship with the young girl, they engage on a long road trip including many pit stops and shopping trips. The teenage girl is not particularly enjoying their voyage and is understandably vulgar and upset. Humbert is quoted many times as saying: Charlotte, I begin to understand you! (Nabokov 149). Humbert narrates and characterizes other individuals in a way that will arouse sympathy for himself. Previously, when Humbert would engage in inappropriate contact with Lolita, he would deliberately point out her mothers unaffectionate nature to justify his touching her child. Now that Charlot te, the obstacle, has been overcome and Humbert regularly molests and abuses her daughter, he points out Lolitas insufferable qualities. He now understands Charlotte and points out that she was not as negative a person as she seemed. Humbert does this in order to paint himself as a tired father putting up with his difficult daughters every whim. Humberts descriptions of Lolita also change, removing the characters likeability as the story progresses. At the beginning of the novel, Lolita is described as closely resembling Annabel, Humberts childhood love. Humbert explains that he is instantly captivated by her beauty: When I passed her in my adult disguise, the vacuum of my soul managed to suck in every detail of her bright beauty (Nabokov 39). Although Lolita is a mediocre American child, vulgar and even less polished than her mother, Humbert seems to view the girl through rose-coloured glasses. To him, she is not vulgar, but charming, not aggressive, but misunderstood by her wretched mother. Although Humbert does not appreciate Lolitas idolization of American pop culture, nothing much else is said with regards to her intellect. Interesting to note is Lolitas minimal dialogue in this part of the novel. She does not say much, except for her frequent arguments with Charlotte. In these arguments, Lolita is not portrayed as a de licate child, but rather a strong-willed, aggressive girl. I think you stink and this is a free country are some of the arguments made to her mother during their verbal fights (Nabokov 46). During one particular fight, Humbert writes: Later, I heard a great banging of doors and other sounds coming from quaking caverns where the two rivals were having a ripping row (Nabokov 48). Writing this, Humbert indicates that Lolita is able to hold her own against her mother. She is not the type to be trampled over or forced to do anything. By including dialogues and descriptions such as these, Humbert suggests that Lolita is a strong child who gets what she wants. In addition to describing her bad-temper, the physical contact between Humbert and Lolita is always said to be instigated by the girl. Humbert narrates: Presently an old gray tennis ball bounced over [Charlotte], and Los voice came from the house haughtily: Pardonnez, Mother. I was not aiming at you. Of course not, my hot downy darling (Nabokov 55). What to an average person would seem like a playful act derived from boredom, Humbert tries to illustrate as an act of seduction. Humbert portrays Lolita as a willing participant in his games, as shown in the following excerpt: Humbert Humbert intercepted [her] apple. In a sham effort to retrieve it, [Lo] was all over me. Every movement she made, every shuffle and ripple, helped me to conceal and to improve the secret system of tactile correspondence between beast and beauty-between my gagged, bursting beast and the beauty of her dimpled body in its innocent cotton frock (Nabokov 58-59). Although Humbert sits there almost inert during thi s encounter, and although Lolita comes to him, he instigates the situation by innocently taking her fruit from her. After her stay at a summer camp, Lolitas sexuality has changed drastically as the reader learns she has had her first sexual encounter. In this part of the novel, through direct quotes, Lolita is characterized differently. She is very teasing of Humbert: I did not [miss you]. Fact Ive been revoltingly unfaithful to you, but it does not matter one bit, because youve stopped caring for me anywayyou havent kissed me yet, have you? (Nabokov 112). Humbert then narrates: Lolita positively flowed into my arms (Nabokov 113). This is the first serious encounter the two characters have: a kiss Humbert narrates as having been Lolitas idea. Although Humbert describes the confidence with which Lolita engages in this behaviour, he also reveals that it was but an innocent game on her part, an imitation of fake romance. Having already lost her virginity to a young man at camp, Lolita initiates sexual intercourse with Humbert during their stay at a hotel. However, more than a romantic partner, Nabokov illustrates Lolita as a young girl in search of affection of any kind. Charlotte, not fitting the maternal archetype whatsoever, was jealous of the relationship between Humbert and Lolita. Having not yet learned that her mother is dead, and believing Humbert and Charlotte are still married, Lolitas contact and conversation with Humbert resembles a bitter act of rebellion against her mother who forced her to attend camp (an experience she describes as dirty and naughty despite her cool demeanor). Having sex with Humbert seems like more of a game to Lolita as she does not understand the severity of her actions. However, it is a way of betraying her mother, just as Charlotte betrayed her by sending her to camp. When Humbert reveals in a most insensitive way that Charlotte is dead, Lolita is truly heartbrok en. Humbert writes: At the hotel, we had separate rooms, but in the middle of the night she came sobbing into mine, and we made it up very gently (Nabokov 142). The quotation suggests that the two engaged in sexual relations once again, and although Humbert does not specify why Lolita was crying, it was most certainly due to the death of her mother and not the mild argument she had with him. The statement illustrates a young girl with no one to turn to except for the adult who victimizes her. Having lost her mother, her only remaining parent, Lolita turns to Humbert-her technical father. He uses her need for affection to gain control of the situation for his own physical gratification. Despite frequent dialogues and descriptions in which Lolita is shown to be unhappy and vulnerable, Humbert adds his own biased interpretations of Lolitas behaviour. She is characterized as a manipulative, able girl. If she is not bought certain things, if she is not allowed to go to certain places, Lolita withholds sex from Humbert. This is an unfavourable depiction of the young girl as her body is the only power she possesses. She has no money, and without Humbert, she cannot survive. In order to put herself in a position of power and achieve some sort of reward for her suffering, Lolita uses her sexuality-something Humbert describes as cruel, manipulative promiscuity. Killing Clare Quilty, the man with whom Lolita runs away, Humbert describes as an act of love for having forced Lolita into poverty. His possessiveness in this part of the novel indicates that he is defending his honour rather than hers. Humbert writes his confession in order to convince the reader that though he is g uilty, he was controlled by a force greater than himself. Through his dynamic characterization of the other characters, Humbert inadvertently reveals he is only interested in telling the story from a viewpoint that will allow the reader to sympathize with him. Diction: In addition to character development in Lolita, diction is also suggestive of Humberts unreliable narration. Throughout the novel, the reader is entranced by Humberts fancy prose style. It is the language used that makes the grotesque themes in the novel bearable. However, many recurring words and linguistic patterns used by Humbert betray the persona he wants to create. Although Humbert wants his confession to seem unbiased and unplanned, the first paragraphs of the novel indicate that his confession is directed to a particular audience-[the] ladies and gentlemen of the jury (Nabokov 9). He, himself, titles his work Lolita, as it is essentially the story of the young girl. However, the foreword written by the fictional Dr. John Ray titles it The Confession of a White Widowed Male. It is interesting that it is always during the most grotesque scenes in the novel that Humbert directly acknowledges the presence of the reader. When pondering whether or not to kill Charlotte, Humbert directly engages the reader(s): And, folks, I just couldnt! In silence I turned shorewardand still I could not make myself drown the poor, slippery, big-bodied creature (Nabokov 87). At times during the confession, Humberts writing becomes almost self-reflective-it seems he gets lost in his past experiences. Nonetheless, in the moments where his morals come into question and where his behaviour becomes criminal, he speaks directly to the reader. Humbert almost acts as his own lawyer, and in an eloquent persuasive tone, tries to sway the reader in his favour. Humbert also uses wordplay to foreshadow Clare Quiltys involvement and significance to the story. In the beginning of the novel, Humbert reads a review. Clare Quiltys name appears, alongside others, and plays are listed including The Little Nymph and Fatherly Love. Humbert says that Lolita could have appeared in a play called The Murdered Playwright, alluding to playwright Clare Quiltys murder. Quiltys presence is always felt in Lolita even before his character is introduced. This leads the reader to believe that Humberts narrative is not free-flowing, but rather serves a direct purpose: to gain sympathy from the reader for the murder he committed. In addition to the change in audience, the connotation and tone of the words used change depending on the situation. Besides Humberts descriptions of nymphets, every other character and experience in his confession is described with cynicism and irritation. Nymphets are introduced as fantastical beings: Nine and fourteen [are] the boundaries-the mirrory beaches and rosy rocks-of an enchanted island haunted by those nymphetsand surrounded by a vast, misty sea (Nabokov 16). This description seems out-of-character for Humbert, who otherwise presents himself to be (within reason) rational. Humbert also states that not all girls in this age range are nymphets. It is the slightly feline outline of a cheekbone, the slenderness of a downy limb [which identify] the little deadly demon offantastic power (Nabokov 17). Humbert chooses to coin the term nymphet instead of using the accepted term of underage girl. By stating that he is not attracted to all young girls, Humbert tries to separate him self from regular pedophiles. The magical tone that surrounds these descriptions makes it seem as though Humbert is not in self-control and submits to the powers of these mystical demons who drive him to abnormality. It is interesting to note that Humbert is very scientific and technical in other parts of the book using jargon such as pederosis and pseudolibidoes. The two different methods of speaking represent Humberts ability to change according to circumstance. While trying to explain his helplessness in the presence of Lolita (and other nymphets), Humbert betrays himself through his word choice. Although eloquent, his possessiveness jumps off the page. Whenever speaking of Lolita, seemingly arbitrary descriptions include possessive pronouns. This is demonstrated numerous times in the novel: How smugly would I marvel that she was mine, mine, mine (Nabokov 161). Constantly referring to the girl as my child, my Lo, my pet, Nabokov italicizes the pronouns to place emphasis on Humberts possessiveness. Furthermore, it is interesting to look at the sentence structure. Whenever events take place involving other people, Humbert makes sure to unite Lolita and himself: Last night, we sat on the piazza, the Haze woman, Lolita and I. Even when writing, Humbert must remain close to Lolita, using punctuation to separate Charlotte from the two of them. Humbert tries to label Lolita as the seducer and instigator of their physical relationship: She played with and kept sticking to my lap (Nabokov 45). Descriptions of such scenes are never explicit, but when movements are described, they are always those of Lolita. Humbert leads the reader to believe he is just a pawn in Lolitas game. In another section of the story, he writes that [Lolita] struck Humbert, quite painfully (Nabokov 65). This is yet another example of Humbert purposefully showcasing Lolitas strength and willpower. Surprisingly, he refers to himself in the third person-something he does often when he bribes/seduces Lolita. It is unavoidable for Humbert to implicate himself in the novel, but when he narrates the more disturbing things he does, he never personalizes it, using Humbert instead of I or me. By doing so, Humbert defeats the purpose of a confession, not really acknowledging it was him who did anything wrong. Although Lolita is shown to sometimes be an hasty child, the words used to describe her when shes around Humbert always paint her as bold and aggressive. She is said to make Humbert nervous. When Lolita reproaches him for his lack of kissing skill, Humbert tells her to show [him] wight ray (Nabokov 120). It seems out-of-character for the eloquent Humbert to be so inarticulate. However, through the use of diction and punctuation, Nabokov suggests that Humbert does not directly quote characters in the novel. In one part of the novel, Humbert writes: Look, we need to go, said Lolitaor something along that line (Nabokov 76). Even though Lolita is clearly quoted, Humbert cannot be sure. This allows the reader to create distrust in Humbert, as he clearly changes dialogue. Many of the letters and conversations Humbert includes in the confession, he admits are paraphrased. Therefore, it is quite difficult to completely trust Humberts story as some of his bias has inevitably seeped through. Also interesting are the nicknames given by Humbert to other characters. Charlotte is also known as the Haze woman, cold big Haze and Lady Hum. Humbert reveals his own mercurial nature by changing the connotation of the nicknames depending on his mood. The fact that his opinions of other characters change so rapidly and so often indicate that Humbert is using them to better his image in the eyes of the reader. There are instances where Humbert seems disgusted with himself, describing his attraction to nymphets as a monstrous love(Nabokov 83). Immediately after he reproaches himself, Humbert goes on to support pedophilia: We are not sex fiends! We are unhappy, mild, dog-eyed gentlemen sufficiently well-integrated to control our urge in the presence of adults, but ready to give yearsof life for one chance to touch a nymphet. Emphatically, no killers are we (Nabokov 88). Humbert never apologizes for his behaviour, admitting it is only society that makes him feel deviant. Contrast Comparison: Nabokov uses contrast and comparison in Lolita to indicate Humbert Humberts biased narration. Humbert often defends his pedophilia-reprimanding societys hypocrisy. He compares his relationship with Lolita to many historical couples: American president Abraham Lincoln and his younger wife, Italian scholar Petrarch and 12 year-old Laureen, and poet Dante Alighieri and his 9 year-old companion. Humbert mentions these relationships as if to validate his relationship with Lolita. These men, whose women were often their muse, served great purpose to society. Humbert questions the confines the law puts on his people (pedophiles), as these men of great status improved the world while sharing his love of nymphets. It is important to note Humbert does not dwell on the age of these men or the time period they lived in (hundreds of years ago). In addition to this, Humbert makes a direct comparison between Annabel, his childhood love, and Lolita. Dolores Haze takes on multiple names: Lo, Lola, Dolly, Hot Little Haze, and Lolita. Humbert states that: in [his] arms, she was always Lolita (Nabokov 9). Later on in the novel, one discovers that Lolita is derived from combining Annabels name with the name Dolores. Annabel Lee and Dolores produce Lo-lee-ta. Although Humbert ridicules psychiatrists, he drops many clues (including this wordplay) that suggest that Annabels early death is the reason for his attraction to underage girls. A love taken from him during a fragile age leading to sickness-this image, he hopes, will arouse the readers sympathy. In the novel, Humberts love scenes with Annabel are somewhat explicit; they use many metaphors and symbols: I was ready to offer her everything, my heart, my throat, my entrails, I gave her to hold in her awkward fist the scepter of my passion (Nabokov 15). As he and Annabel are of the same age, Humbert can be more direct with the reader in these scenes. Conversely, Lolitas sexual scenes with Humbert are quick and do not describe any physical interaction. One assumes that Humbert does this to avoid arousing disgust in the reader. This indicates that Humbert formulates his story in a way that keeps the reader on his side. Throughout Lolita, comparisons are made between older women and girls Humbert deems to be nymphets. Older women, no matter their role in Humberts life, are always unattractive, cruel and unintelligent. Valeria, Humberts first wife, is described as fat, dumb and completely inept. Charlotte Haze is also fat, disgusting and irritating. Young girls are always painted as desirable. The most beautiful language is used to convince the reader of the power of these nymphets. They are seductive, physically-tone, and delicate (Nabokov 17). Humbert tries to illustrate older women as revolting, so the reader will be able to empathize with his lifestyle. Younger boys, however, are never described in the same light as young girls. They are dirty, repulsive, and dangerous. Any boy Lolita speaks to, any waiter who comes into contact with her is described negatively. Humbert portrays himself as Lolitas protector, unwilling to let her be tarnished by these lowly creatures. This is how he sees Clare Quilty. He is the man who kidnaps his daughter and then abandons her. Before Humbert discovers that Quilty is the man Lolita runs away with, Humbert sets out on a mission to trace the fugitiveà ¢Ã¢â€š ¬Ã‚ ¦to destroy [his] brother (Nabokov 247). In the final scenes where Humbert and Quilty are fighting, Humbert narrates: I rolled over him. We rolled over me. They rolled over him. We rolled over us (Nabokov 299). This is the only time in the novel when Humbert (indirectly) acknowledges his mistakes. Referring to Quilty as his brother, Humbert illustrates that they are one in the same. They both helped in destroying a young girl. This is the only moment of remorse shown in the novel, as Humbert quickly reverts back to condemning Quilty. Conclusion: Although readers often expect the narrator of a novel to be completely truthful, it is important to question the reliability of the narrator. In Lolita, Nabokov indicates that narrator Humbert Humbert has his own personal agenda and tells the story in a very biased way through the use of characterization, diction, and comparison and contrast. Why then is this novel so compelling to read? Why does the reader insist on being lectured by the corrupt Humbert and feeding into his lies? Although the narrator is biased in his assertions, Nabokov makes sure to include several clues to help the reader discover Humberts deception. Lolita is not simply escape literature, as it requires the reader to actively think about the story being told. By placing trust in the reader and stimulating their intelligence, Nabokov has created one of the literary masterpieces of all time.