Nature vs. Nurture in Language Development

What is Language? Language is a tool we have been using to understand and develop our thinking. We have been: Learning about the thinking of others by reading Expressing our own thinking through writing Exchanging ideas with others by speaking and listening Thought and language can contribute to clear, effective thinking and communication. Language is a system of symbols for thinking and communicating. At 5 years of age human is expected to have; Articulated speech, Vocabulary of more than 6000 words and Observe grammar rules.An Average speaker is expected to have; 150 words per minute, 20,000 and 40,000 alternatives and error rates below 0. 1%. There are two theories concerning Nature or Rationalism in Language and these are the Nativism and Child Talk model of Chapman et al. (1992). In the child talk theory the child’s needs will enable him to formulate speech based on his past experiences. Nature or rationalist theory is based on the following study by prominent people in h uman history: 1. PLATO knowledge and understanding: * innate * biological * genetically * common nature . Rene Descartes (1596 – 1650) Ideas existed within human beings prior to experience. * God * ability of the environment and the mind to influence and initiate behavior * reflex action (unintended behaviors) 3. Kant (1724-1804) â€Å"A priori† knowledge as illustrated below. 4. CHOMSKY The Nativist Perspective: Human beings are born with an innate capacity for language. Universal Grammar * An innate property of the human mind * Growth of language is analogous to the development of a bodily organ * Abstract that it could not be learned at allPrinciples of UG: 1. Language is innate 2. Our brains contain a dedicated special-purpose learning device that has evolved for language alone. * domain specificity, autonomy or modularity Nurture states that knowledge originates in the environment and comes in through the senses. This theory is called Empiricism defines as the imp ortance of sensory experience as the basis of all knowledge. Empiricism is otherwise known as the doctrine that says sense experience is the only source of knowledge, a belief that experience alone is the source of all knowledge.Empiricism is essentially a theory of knowledge which asserts that all knowledge is derived from sense experience. It rejects the notion that the mind is furnished with a range of concepts or ideas prior to experience. Three principal British philosophers who are associated with empiricism are John Locke (1632-1704), George Berkeley (1685-1753), and David Hume (1711-76). in philosophy, a doctrine that affirms that all knowledge is based on experience, and denies the possibility of spontaneous ideas or a priori thought. Empiricism (greek from empirical, latin experientia – the experience) is generally regarded as being at the heart of the modern scientific method, that our theories should be based on our observations of the world rather than on intuit ion or faith; that is, empirical research and a posteriori inductive reasoning rather than purely deductive logic. Other basis of empiricism are: 1. ARISTOTLE * Truth and knowledge to be found outside of ourselves by using our senses. 2. Jean-Jacques Rousseau (1712 – 1778) * Emile: the hero learns about life through his experiences in life 3.John Dewey (1859 – 1952) * Structured experience matters and disciplinary modes of inquiry could allow the development of the mind. 4. Edward Thorndike (1874 – 1949) STIMULUS – RESPONSE * people learned through a trial-and-error approach * mental connections are formed through positive responses to particular stimuli * learning was based on an association between sense impressions and an impulse to action * structure the environment to ensure certain stimuli that would ‘produce’ learning 5. Psychologist B. F.Skinner (behaviorism or associationism) 3 needs for language formation: * time * opportunity * com puting power Skinner further explains that learning is the production of desired behaviors without any influence of mental processes. Programmed learning is positive reinforcement for â€Å"correct† responses Let us now bridge the gap between nature and nurture. Learning is a developmental cognitive process, human create/construct knowledge. There are three theories involved in this process; constructivism, progressivism and language acquisition theory.We will discuss first constructivism , the following diagrams will show us. Diagram 1: Psychologist Jean Piaget proposed two kind of interaction: * Simple interactions: putting together * Emergentism: adding more to what was put together The first box shows simple interaction while the second box shows emergentism. Diagram 2 shows us how the brain is constructed with interaction to the environment. Diagram 2: Vygotsky (1896 – 1934) states that all learning occurs in a cultural context and involves social interactions.The zone of proximal development (ZPD)learn subjects best just beyond their range of existing experience with assistance from the teacher or another peer to bridge the distance from what they know or can do independently and what they can know or do with assistance (Schunk, 1996) â€Å"scaffolding† that help students learn in systematic ways. This is illustrated further illustrated in diagram 3. To Piaget there are three element involved in interaction the structured environment, the senses and the brain. Vygotsky added one more element nother human being that makes now the elements of interaction four namely structured environment, the senses, another human being and the brain. Diagram 3: Second theory in bridging the gap is Progressivism which emphases on both experience and thinking or reflection as a basis for learning explore, discover, construct, and create. Emergentist (Tomasello & Call, 1997) said that there is something innate in the human brain that makes language poss ible, something that we do with a large and complex brain that evolved to serve the many complex goals of human society and culture.A new machine built out of old parts, reconstructed from those parts by every human child. ( contrast to domain specificity ). Diagram 4 will show us people cannot create something from nothing. People can create but from something already there. The picture on the left is the nurtured face while the picture on the right is the natural face. Diagram 4: LAD THEORY ( Language Acquisition Device ) Chomsky regards linguistics as a subfield of psychology, more especially the cognitive psychology.The Language Acquisition Device: Chomsky argues that language is so complex that it is almost incredible that it can be acquired by a child in so short a time. He further says that a child is born with some innate mental capacity which helps the child to process all the language which he hears. This is called the quot;Language Acquisition Devicequot; (LAD). Chomsky a nd his followers claim that language is governed by rules, and is not a haphazard thing, as Skinner and his followers would claim. We must remember that when Chomsky talks about rules, he means the unconscious rules in a child's mind.A child constructs his own mental grammar which is a part of his cognitive framework. These rules enable him to produce grammatical sentences in his own language. Chomsky does not mean that child can describe these rules explicitly. For instance, a four or five year old child can produce a sentence like, I have taken meal, he can do that because he has a ‘mental grammar' which enables him to form correct present perfect structures and also to use such structures in the right or appropriate situation. Language learning Input Mental grammar Is an (own rules) Innate ability LADGrammatical Output sentencesChomsky suggests that the learner of any language has an inbuilt learning capacity for language that enables each learner to construct a kind of per sonal theory or set of rules about the language based on very limited exposure to language. John Watson / Behaviorism A branch of psychology that bases its observations and conclusions on definable and measurable behavior and on experimental methods, rather than on concept of ;quot;mind. â€Å" Behaviorism is a psychological theory first put forth by John Watson (1925), and then expounded upon by BF Skinner.Attempting to answer the question of human behavior, proponents of this theory essentially hold that all human behavior is learned from one's surrounding context and environment. Diagram 5 shows the imitation process * Children start out as clean slates and language learning is process of getting linguistic habits printed on these slates * Language Acquisition is a process of experience * Language is a ‘conditioned behavior’: the stimulus response process * Stimulus – Response, Feedback – Reinforcement Diagram 5:SUMMARY Rationalism ( Bloomfield & Noam Chomsky ) states the nativist or innateness where children must be born with an innate capacity for language development. Children are born with an innate propensity for language acquisition, and that this ability makes the task of learning a first language easier than it would otherwise be. The human brain is ready naturally for language in the sense when children are exposed to speech, certain general principles for discovering or structuring language automatically begin to operate.Constructivism ( Jean Piaget ) proponent of cognitive theory which introduced that language Acquisition must be viewed within the context of a child’s intellectual development. Linguistic structures will emerge only if there is an already established cognitive foundation. The earliest period of language learning (up to 18 months), relating to the development of what Piaget called ‘sensory motor’ intelligence, in which children construct a mental picture of a world of objects that hav e independent existence.During the later part of this period, children develop a sense of object permanence and will begin to search for the objects that they have seen hidden. This is further emphasized by Vygotsky in his socio-cultural approach to knowledge. Another theory by C. A. Ferguson (1977) known as the Input Theory claiming that parents do not talk to their children in the same way as they talk to other adults and seem to be capable of adapting their language to give the child maximum opportunity to interact and learn. REFERENCES:Pinel, JJ (2011) Biopsychology; Eighth Edition, Allyn& Bacon. Nature versus nurture – Wikipedia, the free encyclopedia. Retrieved from http://en. wikipedia. org/wiki/Nature_versus_nurturePowell, K. (n. d. ). Nature vs Nurture – How heredity and environment shape who we are. Retrieved from http://genealogy. about. com/cs/geneticgenealogy/a/nature_nurture. htmPowell, K. (). Nature vs Nurture – how heredity and environment shape who we are. Retrieved from http://genealogy. about. com/cs/geneticgenealogy/a/nature_nurture_2. htm

Qualified nurse during a clinical placement Essay

Decision making essay Decision making is important to nurses in today’s society, ( Thompson et al 2002) as a number of policy and professional imperatives mean that nurses have to worry about the decisions they make and the way in which they make them. The government has produced several policy initiatives (DOH 1989, 1993a, 1993b 1913c,1994, 1995, 1996a, 1996b,1997, 2000, 2000) which have led to the creation of an evidence based health care culture ( Mulhall & Le May 1999). Thompson et al (2002) believe that poor decision making will no longer be acceptable, the government aim to examine professional performances and the outcome of clinical decision making for the first time. Evidence based practice will no longer be an optional extra but a requirement of all health care professionals. The aim of this essay is to analyse and evaluate a decision made by a nurse in a community practice. The author will highlight why she chooses the particular issue and how it is important to nursing. The author will provide an overview of two general approaches to decision making, rational and phenomenological, by evaluating and analyzing them. The author will consider decision making theories, and try to apply them to the decision making process witnessed in her community placement. She then aims to show, how they should or could have been used as an aid in effective decision making. She will also consider influencing factors that effected the decision making process. A pseudonym is used throughout the essay to protect the patient’s identity, as stated in NMC (2002) code of professional conduct section 5. The patient chosen for the purpose of this essay will be referred to as Jo. Jo is 53 year old women who suffer with rheumatoid arthritis. This also resulted in Jo having bilateral hip replacements. Jo is on steroid treatment, which leads to thinning of the skin and susceptibility to trauma (Mallet and Dougherty 2001). Jo lives with her husband and two grown up  sons. Jo was refereed to the district nurse on her discharge from hospital following her second hip replacement. The initial referral was to check the surgical wound. However on arrival it was pointed out by Jo that she had a skin tear on her left shin that wasn’t healing. The district nurse performed an assessment and concluded the wound was a venous leg ulcer as it had been present for 6 weeks. The district nurses used Sorbisan and Telfa to dress the wound. Twice weekly visits were carried out to Joe for a further 4 weeks, and it became obvious that the ulcer was not improving. The district nurse had to make a decis ion on what care to provide. The decision was to try another dressing Aticoat which is impregnated with silver, and not to refer the patient to the leg ulcer clinic at the local hospital. The district nurse involved with Jo’s care was a G grade nurse and in charge of a community practice that had 3 other nurses working in it. The author decided to focus on this particular decision, as she was influenced by the amount of evidence based research available on the issue, and how the district nurse chose to ignore the evidence, and made a decision on the basis of personal knowledge. The author visited a leg ulcer clinic while on her community placement, and asked the expert nurses running the clinical at what stage they would like to see patients referred to them. She was told if a wound wasn’t healing after 4 weeks the patient should be referred, this information was passed on to the district nurse and ignored. The district nurses felt that if he referred all his patients after 4 weeks the leg ulcer clinic at the hospital wouldn’t be able to cope. In doing this he chooses to ignore the expert advice. I found this very frustrating and interesting, and as Scott (2004) said we ought to promote good and not cause harm, in Jo’s case, the action of not referring her to the appropriate expert nurse could be seen as prolonging healing thus causing her harm. I decided to investigate further what issues led to him making his decision. To achieve excellence in care nurses need to base there decision on evidence based care (Parahoo 2002). There is no shortage of research on wound care  and the management of venous leg ulcers. However because research is based mostly on opinions or experience, hence the development of guidelines and protocols that have practical use is difficult (Leaper et al 2004). There are many sources of evidence, Journal; the Cochran Library database relevant to wound care, however there is so much information it would be difficult for nurses to know where to start. Evidence suggest the management of patients with venous leg ulcers is fragmented and poorly managed ( Carrington 1999). Vowden (1997) agrees and suggests healing rates are poor and treatment costs are high, this could be as a result of nurses not referring patients to appropriate experts for assessment and using expensive, inappropriate dressings such as aticoat, which is impregnated with silver. Although there is evidence to suggest that dressing impregnated in silver and sorbisan are highly effective in heavily exudating wound (Leaper et al 2003& BNF (2004) Jo’s ulcer was shallow and not heavily exudating. The evidence for the care of venous leg ulcers strongly points to the uses of 4 layer bandaging. This is demonstrated in Allen and Nelson (1996) work, they found that healing rates improved for patients who  attended a leg ulcer clinic and had 4 layer bandaging applied. This is also backed up by evidence printed by the RCN(`1998), and Research carried out by Nelson (1996), which suggests that between 40 and 80% of leg ulcers heal with the application of compression bandaging. Jo had suffered with her leg ulcer for 10 weeks before a decision was made by the District nurse to change the dressing from Sorbisan to Aticaoat. The use evidence based care, provides the foundation for evidence based practice ( Harding et al 2002), the ulcer healing rate and outcome for Jo could have been improved by a quick referral to the leg ulcer clinic, as this is seen as the most effective way to treat leg ulcers ( Musgrove and Woodham 1995). One of the reasons the district nurse was hesitant about referring Jo to the ulcer clinic, was that he felt compression banging is uncomfortable and requires a strict regime (House 1996), and his experience patients didn’t often comply. However Jo was not offered the choice. Taylor (1996) believes that communication with patients is crucial to compliance, he suggest by educating patients it will enable them to understand the importance of the compression and assist patient to comply to treatment. Patients need to be given the option of whether they are involved in the decision making process. In Jo’s case the district nurse made the decisions, he didn’t explain alternative treatments to Jo, or explain the 4 layer bandaging to her. In the authors opinion the patient was not given an informed choice. There is a professional responsibility to obtain informed consent from patients before a nursing care procedure is carried out (Cable 2003, Averyard 2000, NMC 2002). The ethical issue of informed consent came essentially from the Nuremberg Code (1947)  as a result of human experimentation in world war two. This was aimed specifically at humans involved in medical research, however consent is now applied to nursing clinical procedures (General Medical Council 1988). There is increasing evidence to suggest that well-informed patients manage their health and treatment better, this enables them to feel in control of there illness (Ogden 2001) and have better psychological outcomes (Gibson 2001). Although Gibson (2001) argues that knowledge alone does not change health outcomes for patients, to allow Jo to give informed consent she would need information that was relevant to her condition and treatment. Jo is an intelligent women and giving her a choice of treatment would have protected her autonomy (Edwards 1996) and individual rights (Caress 2003), however Jo was not offered a choice in treatment, and alternatives were not discussed. The district nurse made a decision and applied the treatment. In doing this the district nurse used his power to manipulate Jo into accepting the treatment the he wanted to give. Giving restricted information the nurse restricted the patient’s choices to secure her compliance (Lukes 1974). The district nurses actions went against advocating the government Expert Patient Policy (DOH 2000), which highlights the need for changes in society that mean individuals expect to have choices, and be involved in decision  making (Kenney 2003). Although Jo gave consent for the treatment given, she did not, in the author’s opinion, give informed consent. Decision making can be divided into two groups, decision making from a rationalist perspective and from a phenomenological perspective ( Tanner 1987). Rational  decision making is a step by step approach that follows a logical course, and clearly definable stages (Harbison 1991), taking into account obvious starting points and objectives, assessment tools, policies and protocols. It gives clear predictable outcomes and is process driven. Rational decision making works, on the basis that when a problem arises, the decision maker agrees a definition of the problem and  discovers all the possible solutions, matches the problem with the recourses and chooses a solution that best matches the problem, and then implement solution  ( Harbison 1991).This approach fits in well with the current trend towards research and evidence based care (Harbison 1991). Using the rational approach to decision making, makes assumptions that all decision makers will take into consideration all possible options and consequences, in light of a thorough understanding of a situation. However in practice this approach would be influenced by time constraints, habit and routine, and Harbison (1991) argues that sensitivity could be lost when following a rational approach. Using Phenomenological process in decision making can be seen as a subjective individual approach (Easen et al 1996). This approach takes into account nurses opinions and views, for this reason as discussed by Thompson (1999) it can create bias, as it is based on experienced expert knowledge. Using expert clinical reasoning the nurses draws on a deep understanding of the patient situation and holistic care needs. Intuition is a quality that  nurses have traditionally valued (Trueman 2003), however with the development of evidence based care it is now seen be some to be unreliable, unscientific and unsuitable for nursing practice (Trueman 2003). Intuition has been criticised for not being able to provide a rational for the decision made,  however Benner (1984) believes intuition is understands without a rational. Benner (1984) argues that during a long nursing career, nurses can gain a great deal of knowledge and skill practice, this leads to them being intuitive about the decisions they make. Intuition is not something that is measurable according to Benner (1984), it is developed through experience, expertise and knowledge, along with personal awareness and personality. McCutcheon and Pincombe (2001) also believe that there are benefits derived from intuition in practice, such as enhanced clinical judgment and effective decision making. Although Cioffi (1997) argues that holistic patient assessment and improving nurse-patient relationships are being undermined by a drive for evidence based care. Intuition has been identified as a useful tool as nurses can analysis the situation as a whole rather that a series of tasks (McCutcheon and Pinchcombe 2001). Both the phenomenological and rational decision making theories have a number of strengths and limitations. McKenna (1997) argues that knowledge can only become known by others if it is shared knowledge and communicated to others. McKenna (1997) suggests this causes a problem for the phenomenological model it is almost impossible to communicate something which is intangible, and which the practitioner is unable to express. Using a mixture of both theories can create a holistic and well documented procedure. Lauri and Saklantera (1995) using a factor analytical approach found evidence that both Benners (1984) intuitive model, and the hypothico- deductive approach of information processing, had a degree of analytical usefulness in explains the decision making of nurses. The implications were that both had something to offer and neither is often a single solution to explain decision making in  practice. Using a decision making model such as Carroll and Johnston (1990) would have enabled the district nurse to reflect and evaluate the effectiveness of the care delivered. Carroll and Johnston (1990) outline seven stages of temporal decision making, and acknowledged that these stages may not simply be followed through there sequence, but the nurse can backtrack at any stage. The first two stages of recognition and formulation involves the examination and classification of the situation by the district nurse. During a home visit the community nurse may be confronted with a range of patient problems (Bryans and McIntosh 1996). Some of these are discrete and easily recognised, while others are likely to dependent upon various circumstances in the patients life, which are likely to remain hidden unless they are explored by the nurse (Bryans and McIntosh 1996). In view of the fact that patient and nurses are strangers to each other, Thompson et al (2002) believe this exploration must be skillfully negotiated by the community nurses, if nurses appropriately identify needs, and thus begin the process of addressing these needs and planning suitable care. If this part of the assessment had been undertaken effectively by the district nurse, the patient may not have suffered for a long period with the leg ulcer. Bryans and McIntosh (1996) suggest this phase of decision making is generally less conscious and deliberate, and more difficult to articulate, than subsequent phases. Although Elstein et al (1978) suggest this a very important part of decision making it often gets neglected. Many decision making models start with an assessment phase such as Walsh (1998)  nursing process, which has four stages of decision making, assessment, planning, implementation and evaluation. If the assessment carried out by the District nurse is poor then the rest of the planning and care delivered will be poor. It has been highlighted in many publications Lait & Smith (1998), Lawrence (1998), Thompson (1999) that a holistic assessment is needed in the care of patients with leg ulcers. Holistic assessments help to identify underlying pathology, and ensure correct diagnosis (Moffat & O’Hara 1995). However the way each individual nurse views the wound will depend on there experience and whether they have come across a similar situation before (Thompson et al 2002). Walsh (1998) highlights the need for a goal to measure against in the assessment phase. In Jo’s case the tool used, could have been a wound chart. A wound chart was however was not used, so on subsequent visits the nurse’s used there own judgment on whether the wound had changed. It was however difficult to clearly classify the wound, a point highlighted by Flanagan (1997) who warns wound classification can lead to inconsistencies in care. Different nurses visited each time making it difficult to provide continuity of care. The district nurse had defined the objective, which was to treat the leg ulcer. However the planning phase of Walsh (1998) model was not implemented, the nurse did not consider an alternative as identified as important in Schaefer (1974) theory. The best outcome, in the district nurses view, was considered although not in an evidence based way. Carroll and Johnson (1990) refer to the common sense view of decision making, in  stages 3,4, and 5, alternative generation, information search and judgment or choice. These three stages can be associated with problem solving approaches and with hypothetic deductive models such as Dowie & Elstien (1988). Hypothetic deductive  method could have been used to identified what was going on with the wound e.g. blood test could have been taken to test for clotting factors, a Doppler could have been used to test for circulation. However nurses can’t always wait for a lab test to give a hypothesis so the district nurse then drew on his experience. However using reflection in action (Schon 1983) and taking into consideration of the added problem of Jo being on steroids, he could have put these things into action to help create an evidence based care plan. Carroll and Johnston (1990) usefully includes decision making and subsequent (stages 6, 7) action and feedback. The inclusion of action and feedback in models of decision making has particle relevance to Jo’s community nursing assessment, because her assessment was continuous in nature ( Cowley et al (1994). If the district nurses had utilized the information properly the outcome for Jo may have been more successful. The best outcome for the patient depends on the patient’s response to treatment the nurse’s intervention and appropriate use of information gained from the evaluation (Luker and Kenrick 1992). District nurses need to be flexible in providing care in patients own homes, because of the sheer diversity of home environments and lifestyles of there patients. Luker & Kenrick (1992) believe that community nurses have there own personally owned knowledge that they find difficult to describe. Benner (1984) would describe this as intuition. However many influencing factors are involved with the nurses decision making, the district nurse that treated Jo had 20 years experience, but in the authors opinion had not used reflective and evidence based practice. The use of reflection enables nurses to learn from there experience and build up an expert knowledge base. However if you don’t learn from your mistakes it doesn’t make you an expert. 02971588 11 Experience doesn’t always equal expertise. If you are a ineffective nurse to start with you may always be a ineffective nurse. The district nurse involved with Jo’s case didn’t seem to reflect upon his actions and learn from practice but just performed a task. As long as the patient was being visited twice a week it didn’t seem to matter how long the wound took to heal, as Thompson et al (2002) suggest 20 years experience may be no more than one years experience repeated 20 times. According to Walsh and ford (1990) there is a need for assertiveness and this  was sadly lacking. Walsh & Ford (1990) argues the lack in assertiveness may be generated from being a mainly female profession, and Corbetta (2003) suggests women that work tend to be judged as inferior. However the district nurse involved in this decision making essay was a man, so I would question whether social conditioning had rubbed of on him. The district nurse seemed to resist altering his practice as directed by the ulcer clinic, it was almost as if he had ownership of the patient’s problem and care, and he saw it as a failure if he had to refer the patient on to a specialist service. It is the resistance to change practice that is cited by several authors (Gould 1986, O’Conner 1993, Koh 1993) as major influence inhibiting the introduction of research into practice. However Parahoo (2002) suggests to change the way nurses work, using evidence based practice, nurses need to think about what they do, how they relate to the people they care for and generally stimulate a more reflecting and questioning attitude. Reading research articles can generate a reflective approach (Parahoo 2002) although the author is aware that changing practices based on one research article is unsafe. Nurse managers have an important role in coordinated efforts, aimed at providing effective evidence based care. Although not all nurses are inclined towards academic work (Jootun 2003), the district nurse was the manager so without him being aware and appreciative of nursing research his team of community nurses provided an inadequate service. However as Sleep (1992) states it is unfair and unrealistic for educational programmes to place upon practitioners the burden of introducing research into the workplace, unless the climate prevailing in both service and management spheres is receptive to change. The organisation needs to facilitate changes in nursing to allow the professional as a whole to practice evidence based care (Parahoo 2002). The district nurse worked in a small isolated practice and his priority seemed to be the setting up of new PCT policies. Patients with leg ulcers were almost in the way. If the district nurse had a positive attitude towards research and regularly read research articles on wound care, which as Gould (2001) suggest are available in digestible form, the  care provided would have been evidence based effective care. Recommendations Joint education and clinical career pathways are needed to close the theory practice gap. Many nurses working in small practices are not getting the education they need to prove the government with a highly effective and trained workforce. Many organizations within the NHS are busy and overworked. The time is not available for them to update their knowledge and training. To help nurses who work in isolated community practices the setting up of groups or research meetings could enable them to keep up to date with relevant research, and would enable the effective utilisation of research findings. Nurses can also be encouraged to use expert nurses that are available at many hospitals and PCT. The use of computer networks and interactive software and research newsletters could also aid in the implementation of research practice. Evaluation Carroll & Johnston (1990) provide a framework for decision making, the author feels if the district nurse had used such a framework the care delivered to Jo could have been more effective and evidence based. The District Nurse didn’t evaluate or reflect on the care he delivered. Using decision making model such as Carroll and Johnston (1990) and Walsh (1998) nursing process, the nurse could have delivered evidence based reflective care. Models such as these are used as a guideline to nursing procedures, if they are followed it ensures that patients get best care and that nurses don’t become complacent in the care they deliver, but use a systematic approach alongside there  experiences and expertise Conclusion Intuition has been identified as a useful tool that needs to be recognised within nursing, however a need for a ration approach along side it is necessary. This will enable nurses to provide evidence based care with clear rationales. There are many aspects of nursing that cannot be subjected to measurement, and intuition is one of them, and so is caring. To ignore intuition as a nursing skill would be to deny the patient of truly holistic care. 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Lean Manufacturing Essay Example | Topics and Well Written Essays - 2000 words

Lean Manufacturing - Essay Example HR departments are the primary change agents in most of the organizations. The aim of this paper is to look at the Human Resources approach regarding lean manufacturing in today’s world. The idea is to relate human resources contribution in the process of lean production which cannot be overlooked by today’s organizations. This paper will determine how decisions are taken by the human resource department, how the human resource department develops policies, and practices for the organization and how effectively the change processes are handled in the organization. It will also clarify what strategic HRM issues should be considered to bring about any cultural and fundamental change within organizations. The policies and practices developed by human resource departments represent important forces that shape employee behavior and attitudes. Human resource department needs to take a number of actions if it wants to deal with the changes regarding culture and wants to make it more customer-responsive. The commitment at the organizational level is enhanced with a positive culture and this also allows improvements to be observed in employee behavior. This certainly acts as a strong benefit for the organization. From the perspective of an employee, the organizational culture is valued highly and it also reduces the level of ambiguity (Oliver, 2006). On the other hand, it should also be noted that cultural changes are not easily acceptable by employees. Resistance is observed from employees when the element of change is observed in organizations and this resistance may create obstacles in the accomplishment of goals and objectives of the organization. Our broad problem area in this case would be an area requiring improvement. ‘Lean Manufacturing’ into an organization is seen to bring a number of benefits, i.e. efficiency savings, improved productivity, waste reduction (Genaidy, 2003). But it is felt

Annotated Bibliography/Moral development and Gender roles within the Bibliography

/Moral development and Gender roles within the dominant culture - Annotated Bibliography Example The article suggests that morality is one critical area in human development. It explains that the factors that influence a child’s morality includes his experiences at home with the family, the environment where he belongs as well as his physical, cognitive, emotional, and social skills. This article explains how morality develops in a child from infancy to adulthood and the age in which morality begins to develop in a child. It explains the factors that affect or influence the development of morality among children. It also presents the ideas of Piaget such as the Heteronomous Morality and Kohlberg’s theory of the Stages of Moral Understanding. According to Piaget, children are serious in obeying the rules set by authoritative figures such as their parents and teachers for fear of being punished. Kohlberg built his theory based on Piaget’s work and their belief in reprimanding a child as a factor in developing his morality are somewhat the same. According to him, children will strictly follow rules for their fear of being punished. roles.html. This article explains the different roles played by a male and a female and how the two genders vary depending on the kind of culture in which a man and a woman lives and this affects home, workplace, and school. It explains the factors that influence them such as the examples set by the parents that children tend to follow. It also tackles on the different stages in a child’s life wherein they will begin to develop their knowledge on the role they ought to play. http://www.wordiq.com/definition/Gender_role. This article defines the meaning of gender role and the elements that comprises it. It explains how a person’s gender role can be expressed such as in his manner of dressing, behavior, and choice of work. It also tackles how culture plays a huge part in defining and changing gender roles. The article suggests that children will most likely follow the examples set by their parents

Global Leadership and Management Essay Example | Topics and Well Written Essays - 1250 words

Global Leadership and Management - Essay Example The paper tells that the French economy had withstood the economic recession better than most other nations because of the resilience of the domestic spending of consumers, having a large public sector and because it is less exposed to the global demand and thus less exposed to the downturn. However, the GDP of the nation has been contracting since then. GDP contracted by 2.5% in the year 2009. Additionally the unemployment rate has also increased from 7.4% to 9.5% between the years 2008 and 2010. This could be a potential threat for the company seeking to expand in France as it could face inadequate demand for its products. Additionally the labor market in France is not much competitive. That is why the French government has been trying to reform the labor market and modernize the economy. Workers productivity remains low in France. The president of France has tried eliminating the annual flat business tax and has also tried to increase tax credit for the investments made in the sma ll and medium scale enterprises. This could act as a favorable factor for the company trying to expand in France. Moreover France also represents strong presence of labor unions which and the French Government pays particular attention to the protection and safeguard of workers both in the public as well as the private sector. This could be detrimental for the company to take strategic actions in case of low productivity of workers or the organization. (Central Intelligence Agency, 2011). Strategies to address the issues The main issue could be the problem of low demand arising out of the GDP contraction in the economy. The problem can be tackled with an extensive marketing campaigning of the company’s products. This would be effective in spreading awareness about the products and making them accessible to the customers. The idea is to develop efficiencies in the operations of the company. It would be crucial to develop economies of scale such through increasing efficiencies in all its work processes. Moreover the high unemployment could be used for the company’ advantage as it would be possible to get labour at low costs and high efficiencies. Labour productivity could be a growing concern for the company seeking to expand in France. This problem would have to be tackled with the use of proper human resource management strategies. HRM theorists have increasingly identified the need for linking HRM strategies with the performance of the workforce. HRM strategies should be such that can attain the maximum contribution from employees and their exploit their maximum potential. The most suitable strategy in this case could be to employ performance based pay in which workers would be paid as per their performance and productivity in the organization over and above their basic pay. Pay linked with performance would be effective in driving up performance standards in the organization through enhanced efficiencies and expertise. The idea is to develop co mpetitive advantage in all activities through increased efficiencies such that costs can be lowered and economies of scale can be attained (Cooke, 2000, p.1-2). However, compensations would have to be backed with rewards structures and training and development programs to ensure maximum involvement of employees in the organization. It is crucial to rewards employees for their good performance in the organization. However, rewards must not always be monetary; employees can be provided with non monetary rewards like words of appreciation, promotions, gifts etc. it can also

Manufacturing Technology lab Report Example | Topics and Well Written Essays - 1500 words

Manufacturing Technology - Lab Report Example The first order of business was to machine the chamfer. The chamfer was created using a High Speed Steel (HSS) tool through tapered turning using the taper turning attachment. The tapering operation was measured for consistency to ensure that the angle or the dimensions were not exceeded beyond the drawing recommended levels. Next, the portion of the job, with the largest diameter was held inside the chuck. The next operation was to rough up the stock billet using the single point tool along with acceptable feed rates and depths of cut. The cutting speed for aluminum is recommended as 75-105 meters per minute (Smith & Peterson, 2008). The rotational speed of the lathe chuck was determined using the formula shown below: In a similar manner, the feed rate was required for determining how fast the piece would be fed to the lathe machine. Two different feed rates were used, one for roughing operations and one for finishing operations (Fox Valley Tech, 2014). The chosen feed rate for roughing was 0.65 mm per minute while the finishing rate chosen was 0.20 mm per minute. The entire stock billet was roughed out in the first series of operations, after which it was measured to determine how much finishing would be required. The finishing operations were carried out to create a stepped piece which would further require an external grooving operation and a chamfering operation on one end. The next operation was creating an external groove. This groove was created using a finer finishing tool with a much slower cutting speed and feed rate to contain accuracy. Once the external groove was machined into place, and measured for consistency at four different points on the circumferential surfaces of the groove, the piece was faced to size. The facing was carried out with the same finishing tool. The final step was to create a M8 thread on the 8mm diameter portion of the job. The piece was centered

Interior Design Program Essay Example | Topics and Well Written Essays - 750 words

Interior Design Program - Essay Example That is what people want; to adjust with environment. Adjustment takes place in two basic steps: one is judgment where one tries to inspect the level of satisfaction by comparison and another is selection which comes into mind if first one directs to do so. Fashionable clothes, jewelries, rich food etc are common example of this. But what about shelter All these luxurious wants go to slum if you don't have place to take deep breath. After daily hard work when we return home, we look for peace, relaxation and happiness. It's a place which refreshes our mind and gives us energy to face daily problems. So home also needs designing and proper arrangements with all facilities within that in order to bring ease and comfort in our life. This work can be beautifully done with help of interior designer. Nowadays Interior designer has more responsibilities, as everybody has different needs and level of satisfaction; and he needs to satisfy customers' thinking after maintaining his own constrai nts (budget, profit, house area etc...). Design is a term related to creativity. Interior design is a process to improve human interaction with the living environment. An interior designer is a qualified person who works on interior spaces to improve its quality and with a vision to enhance the lifestyle of human being, making it healthier and safer (Znoy, Jason A, 2004). It's not about profession and revenues; but the art reflects to his personal life too as society is not a group of families rather individuals! One dominating factor comes and that is financial effort. One designer will do the work for mankind but a large class of people is not in a position to adopt it. Here comes the challenge. What's that contribution where all are not getting the chance to feel pleasure So, design must be flexible and easily acceptable. Nowadays People misunderstand with the meaning of renovation. Many historical structures are being demolished and replaced by modern efficient high-rise buildings. Renovation is part of designing, but doesn't mean removing ancient things. Destruction is not the ultimate way to resolve problem. A doctor never hurts patient but fights against his diseases. Removing these structures, means rubbing out all the histories associated with them. So solution to this conflict between new needs and old culture is restoring and recycling, which bring to sustainability. Renovation needs new resources to replace old ones, but available resource cannot meet wants. In order to get a green country we have to give our hands together forgetting about me but not us. We should remember that child is a father of man. Future is unpredictable, but not impossible to visualize. Doing is believing and we have to believe in what we are doing. As Designing combines all different perspectives to bring out an innovation, teaching interior design and spreading knowledge is very important. Today's challenges are inspiration for designer to come up with solutions that can help the world. Conclusion It's the time now to think higher and dream bigger. We are those drops of rain which can flood the whole world. Interior design gives us the awareness of what is happening in the real life. The only thing that is

Community base activity integration and reflection Essay

Community base activity integration and reflection - Essay Example Some were even teachers and engineers before unfortunate circumstances forced them into the streets. I saw them sitting together having good conversations as they enjoyed their meals. They shared what they received from the kitchen only eating enough to sustain them ensuring that the kitchen could feed many. They were poor but shared the little they had. After the meals, they respectfully cleaned their spaces before walking out. This experience of volunteering enabled me to revise my preconceived notions about the homeless community. I was able to experience firsthand and practice what I learned in the classroom. Marginalization before my experience at Martha’s Kitchen was simply a topic discussed in social sciences. While working with the homeless, I witnessed social exclusion in action. The homeless are denied basic human rights to food and shelter. Justice should be impartial, protecting the rights of all citizen. Unfortunately, such is never the case, especially for marginalized people. However, organizations such as Martha’s Kitchen and homeless shelters provide much-needed help for the poor and homeless. Our society should put up more systems to assist these marginalized individuals and to integrate them back into the society. While growing up in China, I developed biased opinions about the poor and the homeless as influenced by the society. These marginalized people were presented as violent criminals and con artists who took advantage of others. While working at Martha’s Kitchen, I interacted with them as I served the meals. I found that they were polite people always with a smile on their faces despite their unfortunate circumstances. They appreciated the workers in the kitchen and respected the space they were provided. I met individuals who worked hard whenever they secured temporary employment and shared their little income with others. The volunteering position enabled me to appreciate the experiences of the people who are marginalized.

The Japanese model of human resource management is no longer relevant Essay

The Japanese model of human resource management is no longer relevant to firms in the contemporary business environment. Critically assess this statement - Essay Example In this case, an individual may argue about the extent to which Japan should adopt Western management practices so as to boost its performance in the global marketplace (Sakikawa, 2012). This paper will evaluate whether the Japanese HRM model is relevant to the contemporary business environment. The Japanese HRM model is characterized by information flow and collaboration that is dominated by the Japanese culture. Japanese people believe in getting their hands dirty to help them identify the prevailing problems and come up with relevant solutions to address the challenges, and the leaders are not exempted from this initiative. These principles are usually mistaken by most western managers who believe in micromanagement, which is an unprincipled and constant practice that interferes with the processes (Rowley & Benson, 2004). However, according to the Japanese society, these tools are essential in terms of shepherding the underlying processes. The decision making process according to the Japanese is aimed at providing an opportunity that fosters equal ranking among employees and managers in a particular group in order to incorporate the idea that an individual stipulates. This process rhymes with the Japanese culture that focuses on harmonizing people. The physical action that is attributed to the decision making process aims at creating an environment that offers support as well as an agreement for a decision in case a manager who is in a higher position accepts and recommends a particular decision (Ruysseveldt, 2004). The Japanese people believe in the ringi decision making process. This means that a person should submit a proposal to his or her supervisors, and await their feedback. Though the executive leadership does not define the corporate policy clearly, all the managers regardless of the levels that they occupy are supposed to raise their decisions that

Opening a Mr. Goodscents in Finland Essay Example | Topics and Well Written Essays - 1750 words

Opening a Mr. Goodscents in Finland - Essay Example Mr. Good cents are franchisee who always considers to holdup the concept values of trust, integrity and respect. The Good cents registered establishment is represented by an icon figure developed from a penny. In 1909 the US government had introduced this one cent coin featuring with the 16th president Abraham Lincoln. The coin had got more popularity and was highly circulated. The popularity of the penny may vanish when time passes. Since Mr. Good cents have considered this penny as their logo they can enjoy its traditional value for a very long time. The muscle power observed in the hands and legs of Good cents icons resemble the strength and ability of experienced hardships. This is the symbols of dedicated hard work in an individual’s life span. The icon’s smiling face expresses pride, enjoyment and excitement that he has been experiencing by serving his customers. The icon also indicates satisfaction in providing high quality healthy products to the community. Mr. Good cents subs and pastas restaurants and franchisee are committed to keep up the above-mentioned traditions since its establishment. Their establishment in Finland has influenced the country’s culture and lifestyle to a great deal. The people of Finland are the admirers of Good cents products. Their masterpiece munue have too much popularity among them. Usually their masterpiece items are 18 varieties of sub sandwiches prepared from fresh deli meats. They are the master servers of delicious desserts, salads, soups and pastas which are considered as highly nutritious healthy dishes. Let us have a look at some of their famous dishes. Subs/Sandwiches are considered as one of the prominent and famous menu from Good cents subs and pastas. This is a delicious menu of bread slices which are furnished by meat and cheese. Another famous dish is Pasta. This is a preparation of sauce and meat

Minimum wage Essay Example for Free

Minimum wage Essay While poverty continues to increase in several areas of the world, economist tries their best to find a way to offer a feasible solution. One of the most common answers that can ordinarily be found in economical debate would be the issue of the establishment of a minimum wage. Setting a minimum wage is a policy tool that ought to increase the income of the working class in a certain community or country. Seemingly this premise gives the minimum wage policy easy to understand. Ideally, an increase in the minimum wage results to an increase in income that is suppose to alleviate low income households into a higher social status. In fact, this policy tool has been commonly used to alleviate poverty levels in the third world countries. Most regions in the Latin America adopted this policy sometime in their past. Nonetheless its positive and negative effects are still subject to careful analysis and thoughtful criticism. This paper would focus on the effect of an increase in minimum wage on different countries primarily between a first world and a third world country. In doing so, the paper would attempt to review the literature presented by Gindling and Terrell (2007) along with the data’s gathered by Powers. From such literature I have gathered the importance or the role of unemployment rate on the changes in poverty level. The several discussions shall be related to the surveys, theoretical models and data’s that are gathered as of June 2007. The econometric analysis that would be use would also be based on the regression that was formerly made by Powers. Literature Review From the different articles that flooded the economic circle, there were several debates that concerned the utility that could be derived with the implementation of minimum wage. The proponents of the positive impacts of an increase of the minimum wage in reducing low income household according to the study made by Gindling and Terrell believes that it would only be effective and limited in the formal sector. Those who compose this â€Å"formal sector† are the employees who receive more than or equal to the minimum wage. Those people that argue against the minimum wage does so under the assumption that the market and economy today is highly affected by a close competition brought about by globalization. In line with this, the current governments would be required to create the most attractive business milieu for the investors. Thus, the government, most especially of the â€Å"developing country† would most likely impose lower minimum wages or might even argue to abolish it (Lee, 2002). In a brief discussion, a minimum wage implies a law that was legislated in order to ensure that worker/s will receive a minimum amount of payment for a certain amount of performance made. This law was created in able to protect the workers, most especially those who low income earners from possible exploitation and abuse from their employers. Most of the low wage earners were composed of unskilled laborers and have mostly received low level of proper education, if any. At the same time, insuring that this type of workers will receive a minimum wage would result to a lower level of poverty. This will be the case since it is standard that upon setting the minimum wage factors such as the daily living standards of a person and the purchasing power are taken into consideration. Such procedures would make a minimum wage law more effective and beneficial for the worker/s. Gindling and Terrell in their study of the situation of the economy of Honduras provided insights regarding the different factors that may affect the family income. The first thing that they believed that one should consider in instituting a minimum wage would be the person/s that the policy will apply. The person/s involved and the labor market in which they belong are important in the considerations since the more competitive a market is, the higher the unemployment rate it will produce. It is important to note because the demand for labor usually determine the number of person that shall be displaced upon the possible increase in the minimum wage. The second factor would be on the possible effect of the minimum wage changes on the workers that are not cover with the implementation of such policy. This is important to note since those people who would lose their job because of the increase in minimum change increases the available supply of labor in the sector that was not covered by minimum change. Such sector includes self-employed individuals or individuals who are underpaid. Factors Affecting Minimum Wage  Another factor that Gindling and Terrell believe to create an impact on the family income is the social status in which the family belongs. The increase in minimum wage is meant to reduce poverty. Nonetheless, the families that might have been affected by the changes in minimum wage might not be included in the families along or under the poverty line. This is an important factor since it would determine if the increase in minimum wage would have an impact on the middle class or the lower class. If the minimum wage increase would affect only or greatly on the middle class, the gap between the middle and the lower class would inevitably widen. The last thing to consider would be the view that a society takes regarding what a minimum wage shall cover. In some cases the minimum wage is based on the worker family’s basic need. In other society the worker’s personal basic needs is the one which is considered. Thus, in effect, it would be relevant to consider the number of the working member in the family or the number/s of bread winner/s. Effects of Minimum Wage The effects of a minimum wage depend upon the household and the family that responds to the requirements of the labor market. A family might be able to benefit in an increase of minimum wage if there are two or more members of that family that are would receive or affected by the increase in minimum wage. Nonetheless, if instead of gaining from the minimum wage increase, some earners in the family was removed from the job resulting from the laying off of workers that company resulted into, to be able to effectively provide other workers with a minimum wage without decreasing the company income. The family would suffer more poverty than they have experienced before. The effects of minimum wage also differ with respect to gender, age and ethnicity. More often than not women due to their high expense, having more leaves and being more prone to illness due to a â€Å"weaker body structure† are more susceptible than man when lay offs occur. Thus, for those families that are single handedly supported by a female, an increase in minimum wage is not actually good news. Also, people who are already approaching their golden age or those who are closing to retirement age are usually subjected to layoffs since they are considered to be less productive than the young ones. Lastly, there are areas were ethnic discrimination is still an issue. Problems with Minimum Wage According to the research made by Gindling and Freeman, the main objective of creating a minimum wage is not to decrease the number of employment; it is actually to equally distribute income to the low wage earners. The cost cutting procedure that usually resulted as an effect of the increase in minimum wage cost the job of the workers more prominently those who are in the bottom ladder of production. Since these people do not have enough skills, experience and education, they would find it very hard to look for a new job. In such case, instead of alleviating poverty, the increase in minimum wage results to an increase in poverty. In the view of Richard Berman, the government upon imposing the law on minimum wage increase imposes such command to the employers on how much they should give. However, the government does not have the authority to command the employers regarding who are the people that should and should not be hired. Such situation is what causes the employers to layoff the less productive workers. It also made them employ less people and employ only those who posses more than enough qualification that would fit for the job and for the wage. The drastic effect that such situation results into is a little bit complicated. First and foremost the amount of available employment would be greatly reduced. With lesser opportunity for those who does not have jobs and with an additional number of unemployed produced from the layoffs, unemployment would greatly increase. In the long run the family of those who are unemployed would suffer lower income and would fall under or stay under the poverty line. Another effect would be on how employers would choose their employees. Since employees cause more, aside from a reduction in the number of employees, as explained above, employers would also tend to increase their qualifications for possible employees. Thus, employers would tend to hire people who are better qualified, that is that they have attained higher level of education and/or skilled. Those who includes in the highly educated employees are usually compose of the younger generations. Also, one cannot expect someone below the poverty line to get the best education available since it is most like that higher education is expensive. The skilled laborers on the other hand are only a few and would more or less attain some degree of education. This leaves the adult unskilled worker/s less preferable for a usual low wage job. With this in mind, one could assume that the probability of unskilled adults to work on jobs that would be affected by the increase in minimum wage, very low. It is more likely that would seek and settle to an underpaid job to be able to somehow support themselves and their family or they might not work at all. What may follow is a further increase in poverty, rather than a reduction. Another possible scenario involves chances of higher prices in commodities. As a usual flow in economics, the expenses that were received by the company would be passing on to their consumers in able to maximize profit. Sometimes this kind of reaction may lead to a lower quality in the services and the products produced by the company. Further more, the employers might ask the employees to work for much longer hours and workers might be subjected to a low quality of working environment with additional task. Minimum Wage and Poverty in the United States According to Gindling and Terrell (2007), using the study that was conducted by Blackburn and Addison in 1999, an increase in the minimum wage had a positive effect on the level of junior high school dropouts from 1983 to 1996. This can somehow be interpreted that less junior high school and teenagers stop from schooling in able to help their parents earn family income or that there have been more students who are able to continue going to school. Neumark and Wascher in 2002 conduct a study through the use of US CPS data. Their research demonstrates that an increase in the minimum wage both have a positive effect on the probability of families to fall into poverty and to escape poverty. The impact of the Neumark and Wascher study is that there is a redistribution of income among the poor.

Jacobite opposition to the Whig Oligarchy Essay Example for Free

Jacobite opposition to the Whig Oligarchy Essay Why was Jacobite opposition to the Whig Oligarchy so unsuccessful between 1714-60 The Jacobites were a British group who repeatedly tried to reinstate the old Stuart kings onto the English throne, as opposed to the Protestant monarchy that began in 1689. From 1714-60 parliament was dominated by the Whig party, to the detriment of the pro-Jacobite Tories. There were many Jacobite attempts in this period to overthrow this Whig oligarchy and the kings that supported it. P Monod attributes the failure of the Jacobites to a lack of leadership and inadequate military forces. J Stephenson, on the other hand, argues that a lack of foreign and domestic support for the old stuart monarchy is the predominant reason for the lack of success of the Jacobites. This essay will examine the four main factors that are cited as the reasons for the failure of Jacobites poor leadership, weak military, little foreign support, declining domestic support and will evaluate which one of them is the most important. The Jacobites that they never had adept leaders. Jacobite officers were normally of Scottish brethren, with little experience of warfare. Furthermore, as they were Scottish, they did not know the territory when they entered England. This is considered by Monod as one of the reasons for their failure to sustain themselves upon exit of Scotland. The best attempts at Stuart restoration were the rebellions of 1715 and 1745. However, both of these are characterised by poor leadership. In the 15 the commander of the Jacobite army was the Earl of Mar. He raised the Jacobite flag too early, before the army was prepared and, at the Battle of Sherifmuir, failed to take advantage of his victory and the 3:1 ratio of forces, instead allowing the British battalions to retreat and regroup. On top of this, James Francis Stuart, the Pretender King, was absent from the rebellion. Thus, the Jacobites were without their inspirational figurehead. The rebellion of the 45 endured similar problems, despite having their true leader, Bonnie Prince Charlie present. Having successfully driven down to Derby, instead of marching for London, the Jacobites fled to Scotland, allowing the British to regroup and pursue them. The issue of poor leadership was compounded by the inherent weakness of the Jacobite forces. They were predominantly comprised of Scottish highlanders, and anyone else that wished to join them, normally farmers. The men had little, if any, fighting experience and had never been trained in combat. Furthermore, they were poorly equiped, relying on homemade and captured weapons. The force was usually small, at its largest during the 45 when it reached 12 000 men. This is contrast to the British armies that were defending London. Although, they were slow to react to both rebellions, they were far superior when they engaged the Jacobites in combat. In 1715, the British army had just emerged victorious from the War of Spanish Succession. After famous victories, such as Blenhim, it became known as one of the most formidable fighting forces in Europe. It was large and well trained. Moreover, the Jacobite armies were hampered by internal divisions. The bulk of their men came from highland clans which were historically opposed. Many refused to fight with each other. This problem was particularly present in the rebellion of 45. The Jacobite cause had little hope when it was so weak in the face of such strong opposition. In Britain and Scotland the Jacobites support for the Jacobites was slight, waning further during the period. While Scotland may have been very pro-Jacobite in 1714, the Jacobite influence influence decreased radically until 1760. This is largely down to the fact that the people were forgetting the reasons for their hatred of the British crown. The Glencoe Massacre of 1690 was soon moved into oblivion. Memories of the stuart kings faded as Britain enjoyed peace and prosperity under Hanoverian rule. Lastly, the benefits of Union with England became more apparent as Scotland grew economically and was less heavily taxed than before. In England itself, followers of the Jacobites were always few and far between, only decreasing in the period until 1760. England had always been very anti-Stuart, accusing James II and his predecessors of despotism. Thus, the Glorious Revolution of 1689 was welcomed by the majority of the population. The support that had come from the Tory party also wavered. This was because, after their defeat in the 1714 election, they were keener to rebuild politically than waste time on what was considered a hopeless task. This was compounded by the fact that two Tory leaders, Oxford and Bolingbroke were impeached in the run up to the Jacobite rebellion of 1715 and because Jacobitism grew to be associated with treason. The Jacobites could never rely on foreign support. Louis XIV had originally pledged his allegiance to James Francis Stuart, proclaiming him as King of England and promising resources. However, the loss of the War of Spanish Succession, and the subsequent acknowledgement of the Hanoverian succession, esnsured France would not, and could not, fund the Jacobites for a very long time. This was reinforced by the Anglo-French Entente of the 1720s, whereby Walpole and Fleury were keen to maintain the peace. The French did promote the Jacobites in the run-up to the 45, with a 15 000 invasion force at Dunkirk ready to embark for England. However, poor weather and the War of Austrian Succession diverted the troops. Similarly in 1719, a Spanish fleet was ready to set sail for England, in support of the Jacobites, only to be stopped by a storm. Few other European nations were willing to fund the Jacobites. Seeing it as an worthless cause that would just bring unnecessary aggression from Britain, the pre-eminent power in Europe. The lack of foreign support was no doubt significant, as a large, well-supplied army was never received in Britain. However, even with the absence of this, the Jacobite rebellions drove deep into Britain. Similarly, the claim that Jacobite leaders were inept, while maybe true, does not fully explain the failure of the rebellions. The armies still enjoyed many victories and the British were often commanded by similarly worthless men. The inadequacy of the troops and the lack of domestic support are the most significant explanations for the failure of the Jacobites. Against such a strong British army, the Jacobites had little hope of victory. Linked to this, is the lack of pro-Jacobite people in Britain. This was an underlying reason for the small number of people that would join the rebellion and further ensured that both times the revolts extended into England, they petered out due to the prevalent hostility of the people.

Public Debt And Its Political Implications Economics Essay

Public Debt And Its Political Implications Economics Essay The debt limit or so called debt ceiling is the total sum of money that the US government is allowed to borrow in order to cover the existing expenditures: national defense, interest on the national debt, Medicaid and Medicare benefits and other expenditures. The debt limit enables the government to cover the spending that was negotiated between Congresses and Presidents in the past. Nevertheless, it does not apply for new, unbudgeted expenditures. If the debt ceiling limits the government to pay for expenditures that are legal obligations (e.g. interest on the national debt, government employee wages, etc.), the debt ceiling can lead to the default of the US (US Department of the Treasury, 2012). The U.S. Debt-Ceiling Crisis and the Budget Control Act of 2011 In May 2011, the Treasury declared that the debt ceiling of US $14.29 trillion had been reached, but that extraordinary measures could prevent a default and keep government operational. For several months after this announcement, the debt ceiling was in the center of a political battle between the Republicans, who controlled the House of Representatives since the 2010 elections, and President Obama and the Democrats who controlled the Senate. The Republicans insisted on revenue increases and spending cuts as condition for their approval of an increase in the debt ceiling. Both parties could not come to a compromise and by the end of July, the countrys default approached. Finally, an agreement between President Obama and Congressional leaders was reached by the night of July 31, 2011 (Eells, 2013). On August 2, 2011, President Obama signed the Budget Control Act (BCA) that raised the debt ceiling and thus averted the looming, first-ever US government default. The Budget Control Act authorized the increase of the debt limit in three installments. First, the President can require the immediate increase of the debt limit by US $400 billion. Second, the debt limit can be increased by additional US $500 billion, if a joint resolution of disapproval is not enacted. Thirdly, the President can require an additional amount between US$1.2 trillion and US $1.5 trillion that is also the subject to congressional disapproval (Heniff et al., 2011). The first two debt increases, totaling US $900 billion, should be compensated by reductions in future federal spending. The BCA also determined caps on annual expenditures over the following ten years. Estimates on federal spending reductions by the Congressional Budget Office (CBO) totaled US$917 billion. For the years 2012 and 2013, the limits on security and non-security spending are separate. For the eight years thereafter, the spending cap will be effective on a single discretionary category (Heniff et al., 2011). Another part of the BCA was the establishment of a Joint Select Committee on Deficit Reduction. This Committee is tasked with proposing means to reduce the federal deficit by at least US $1.5 trillion over the next ten years. As a result, the BCA provides at least one dollar of spending cuts for one dollar in debt ceiling raise (Heniff et al., 2011). However, if the Joint Committee fails to produce spending cuts of at least US $1.2 trillion, then the President will be authorized to increase the debt ceiling by US $1.2 trillion that need to be compensated by a combination of the spending cuts nevertheless produced by the Joint Committee and across-the-board spending cuts, including military expenditures, education, transportation, Medicare etc. (GAO, 2012). The political battle between Republicans and Democrats had several negative consequences. The delays in raising the debt limit in 2011 resulted in additional borrowing costs for the Treasury of about US $1.3 billion only in the fiscal year 2011, which do not include the multiyear effects on potentially increased interest expenses for Treasury securities of future issues. Other challenges for the Treasury in managing the federal debt under the effects of these delays were the complexity, the time spent and the technical issues that arose before the staff. Moreover, the Treasurys employees had to focus on extraordinary actions instead of focusing on its important debt and cash management responsibilities and staff development (GAO, 2012). The US debt passed the 100%-of-GDP mark after the governments debt ceiling was increased. The new borrowing enlarged the US debt to US$14.58 trillion, surpassing the US $14.53 trillion size of the U.S. economy in the year 2010 and moving the USA into a fiscal situation similar to countries whose public debt is higher than their annual gross domestic product: Japan (229%), Greece (152%), Italy (120%), Ireland (114%) and Iceland (103%). The last time the U.S. debt exceeded GDP was in 1947 after World War II and the deficit was due to extraordinary war spending (Money News, 2011). As a result of the debt increase, Standard Poors (SP) downgraded its USA long-term sovereign credit rating from AAA to AA+ on August 5, 2011. The lowering of the long-term sovereign credit rating by SP reflects the rating agencys believe that the the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than was envisioned when agency assigned a negative outlook to the rating on April 18, 2011 (Swann et al., 2011). SP believed that the fiscal consolidation plan that was agreed by Congress and the President was not sufficient to stabilize the general government debt burden by 2015. Additionally, the political positions of Republicans and Democrats were still far apart and the two parties only agreed on minor savings in discretionary expenditures. The Select Committee had to provide more comprehensive solutions. The political disputes diminished the governments capability to manage public finances and distracted attention from the ultimate goals of a more balanced budget and improvement in economic growth. SPs prospect on the long-term rating is unfavorable. The agency can even decrease the long-term rating to AA, if, for instance, the US government cuts its spending less than was negotiated or the new arising fiscal burdens over the next two year period. The other two major rating agencies, Moodys and Fitch, kept their top credit ratings, although they pointed out that downgrades could follow if the US government fails to implement debt reduction measures or an economic slowdown happened (Detrixhe, 2011). After raising the debt limit to US $15.2 trillion in August 2011, Congress increased the debt limit to US $16.394 trillion in January 2012. By the end of August 2012, the amount of debt reached US $15.977 trillion, which is approximately US $417 billion below the debt limit. As the government borrows roughly between US $100 billion and US $125 billion a month, the debt was estimated to hit the limit in December 2012 (Sahadi, 2012). By December 31, 2012, the USA reached its debt ceiling, but the Treasury declared that it can pay outstanding debt obligations and other bills for the next two months. This means that a new political battle, between Congress and the White House, for another increase in the debt ceiling will start in the near future. Effects of the US government shutdowns in 1995-1996 In 2011, the US government was close to defaulting on its public debt. The potential negative consequences of a default are more severe than that of a shutdown. Nevertheless, recent shutdowns can give an example of potential harmful effects of such fiscal issues on the public and economy. In history, the US government has experienced several shutdowns (Figure XY) that occurred when Congress fails to adjust funding for the current fiscal obligations. In this situation the government can no longer borrow funds, but the federal government can continue to operate, given the Treasury has the opportunity to generate additional revenues or to implement special measures. Nevertheless, the continuing incapability to borrow would result in a default (Masters, 2013). Figure XY. Appropriations Funding Gaps: Fiscal Years 1977-1998 Fiscal Year Date gap Commenced   Full day(s)   of gaps Date gap terminated   1977 Thursday 09-30-76 10 Monday 10-11-76 1978 Friday 09-30-77 12 Thursday 10-13-17 Monday 10-31-77 8 Wednesday 11-09-77 Wednesday 11-30-77 8 Friday 12-09-77 1979 Saturday 09-30-78 17 Wednesday 10-18-78 1980 Sunday 09-30-79 11 Friday 10-12-79 1982 Friday 11-20-81 2 Monday 11-23-81 1983 Thursday 9-30-82 1 Saturday 10-2-82 Friday 12-17-82 3 Tuesday 12-21-82 1984 Thursday 11-10-83 3 Monday 11-14-83 1985 Sunday 9-30-84 2 Wednesday 10-3-84 Wednesday 10-3-84 1 Friday 10-5-84 1987 Thursday 10-16-86 1 Saturday 10-18-86 1988 Friday 12-18-87 1 Sunday 12-20-87 1991 Friday 10-5-90 3 Tuesday 10-9-90 1996 Monday 11-13-95 5 Sunday 11-19-95 Friday 12-15-95 21 Saturday 1-6-96 Figure : Appropriations Funding Gaps (Source: U.S. Library of Congress, Congressional Research Service) The longest US government shutdown was a shutdown in the years 1995-1996. The U.S. government was shut down for 21 days between the December 16, 1995 and January 6th, 1996 due to the budgetary mismatches between Democratic President Bill Clinton and Republican Speaker of the House Newt Gingrich. In 1995, Clinton denied to cut steeply Medicaid, Medicare and other non-defense expenditures for the 1996 budget. Gingrich responded with the threat that Congress would not approve the increase in the debt ceiling. This would lead the USA to default on its outstanding debt. The first shutdown lasted five days from November 13 until 19 when both parties made an agreement to balance the budget in seven years period. However, the White House and Congress could not agree how this procedure would be accomplished resulting in the second US shutdown for 21 days. Negotiations between the President and Congress over the next 21 days resulted in the agreed seven-year balanced budget plan. The plan cons isted of the tax increases and the little spending cuts (Fiscal Politics Policy from 1970s to the Present). Gressle (1999) showed the effects of the US government shutdown on the public and economy. The first and the second shutdowns in 1995-1996 years resulted in the furlough of an estimated 800000 and 284000 federal employees respectively. The second shutdown had vast effects on all sectors of the economy. A good example is the health care sector where new patients were not accepted into National Institute of Health (HIN) Clinical Center and the hotline calls to HIN regarding health problems were not answered. Around 20000-30000 applicants for US visa were not served each day resulting in million dollar losses for airlines and tourist industries. The closure of 368 National Parks led to the loss of 7 million visitors and US$14.2 million per day in tourism income by locals. After the 1995-1996 shutdowns, President Clinton improved his image (Lader, 2008). The majority of Americans understood that both shutdowns were due to the Republican obstinacy. Nevertheless, the shutdowns in 1995-1996 showed the aftermaths of divided government and the shift of the political policy to the rightwing. Fiscal Cliff There are a lot of expressions for the issue often called fiscal cliff: fiscal slope, austerity crisis or fiscal obstacle course. However, all of them describe the same process, particularly, the automatic tax increases and spending cuts that take effect on January 1, 2013. However, the first person who popularized the term fiscal cliff was the chairman of the Federal Reserve, Ben Bernanke. The chairman used this expression in a speech to a congressional committee in February 2012 in reference to a combination of spending cuts and tax increases set for January 1, 2013. Afterwards, the phrase was used widespread (Geoghegan, 2012). The majority of analysts predict that the implementation of the tax and spending cuts on January 1, 2013 will have no significant influence on the economy as a whole in the short run. At the same time, the long-term effects of these measures would be tremendous. If a deal can not be reached by the White House and Congress, it might have uncertain effects on the economy such as a market panic, a drop in consumer spending, a decrease in business investments, etc. The Congressional Budget Office calculated that the budget deficit would decrease by US $0.5 trillion from 2012 to 2013 and the economy would slow down due to a resulting recession. Almost all Americans would experience a rise of their tax bills with the estimated increase at US $3500 and an after-tax income decline by 6.2% for the average family (Lowrey, 2012). On Tuesday January 1, 2013, Congress approved a deal to end the long partisan dispute over the fiscal cliff. The main changes that were set were the end of last years temporary payroll tax cuts (resulting in a 2% tax increase for workers), the end of certain tax breaks for businesses, shifts in the alternative minimum tax that would take a larger bite, a rollback of the Bush tax cuts from 2001-2003, and the beginning of taxes related to President Obamas health care law. At the same time, the spending cuts agreed upon as part of the debt ceiling deal of 2011 will begin to go into effect (Kenny, 2013). The agreement leads to the increase of the tax rate from 35% to 39.6 % for single persons who earn US $400000 and for couples with an income above US $450000 per year. Americans should also pay higher taxes on dividends and capital gains with the tax rate rising from 15% to 20%. Also, the tax for estates with a value above US$5 million will be taxed by 40% (previous rate 35%), but Republicans succeeded in indexing the threshold of US $5 million to inflation and thus smoothing the effects of the estate tax for wealthy Americans (Ungar, 2013). Among other changes were the extension of an additional year of unemployment benefits for nearly 2 million Americans, the doctor fix related to Medicare and tax credits for college tuition that were extended for another five years (Ungar, 2013). The agreement prevents a significant increase of income tax for around 100 million American families that earn less than US $250000 annually. However, the 2% payroll tax cut, that was originally part of the 2009 stimulus package, will expire (Montgomery and Helderman, 2013). The above measures will prevent the severe economic downturn that could happen in case of going over the fiscal cliff. President Obama pointed out in his brief statement that the new measures would produce US $620 billion in new tax revenues (Montgomery and Helderman, 2013). In conclusion, the new measures that were set to avoid the fiscal cliff were not the ultimate goal of neither Republicans nor Democrats. Republicans are not satisfied with the tax increases and the lack of spending reductions, while Democrats complain about the provisions regarding estates. It seems that the political dispute will continue in the near future and the agreement signed on December 31, 2012 was just a short-term fix to avoid the fiscal cliff. Foreign Holdings of US Public Debt and its Political Implications A crucial point in analyzing the current situation of US public debt and its political implications is the detailed understanding of foreign holdings. As of July 2012 (most recent data), foreign countries owned a total of US dollar 5.4 trillion of U.S. debt, which is approximately 34% of total debt outstanding of US dollar 15.9 trillion. The three largest single foreign holders are the central banks of China, Japan and Brazil. Comparing the situation in July 2012 with the state in July 2002, one can see that the proportion of foreign holdings in US public debt outstanding has grown from approximately 19% to 34% (Treasury Direct, 2012). Figure XY shows that as of July 2012, China is the largest single holder of US public debt with a share of approximately 7.2% followed by Japan with a corresponding share of about 7.0% (US Department of the Treasury, 2012). Figure : Foreign Holdings of US Public Debt (Source: Treasury Direct, 2012 U.S. Department of the Treasury, 2012) Given its low savings rate, the US economy is strongly dependent on foreign capital inflows from countries with high savings rates (for example China  [1]  ) to meet its domestic investment needs and to fund the federal budget deficit. Important to understand is that the willingness of foreign countries to invest in the US economy and to purchase US public debt has helped to keep US real interest rates relatively low in the past, which until recently, contributed to a great extent to a fast US economic growth and enabled the country to consume more that it produces for a long time. Some renowned economists also argue that the US dependency on foreign savings was a contributing factor to the US subprime crisis and the subsequent global financial crisis. However, the size and the recent growth of US public debt have raised concerns about the willingness of foreign countries to continue to invest in US public debt securities. For example, some Chinese analysts claimed that the gover nment should diversify its reserves away from US dollar assets into assets of other currencies. An important short-term political implication of Chinas large holdings in US public debt is that, if China might suddenly decide to sell a large share of its holdings, this would induce other foreign investors to sell off their holdings as well, which could dramatically destabilize the US economy. Possible consequences can be the depreciation of the US dollar as its supply on foreign exchange markets increased and a large increase in US interest rates as a crucial source of funding for investments and the budget deficit is withdrawn from financial markets (Morrison and Labonte, 2012). Therefore, China seems currently able to destabilize the US economy through the sale of a large share of its US debt holdings, which can be seen as a financial weapon (Sandbrook, 2012). In addition, in the long run, if China reduces its US securities, the US would need to replace it with other foreign or domestic investors to fill in the gap. Those investors would probably have to be acquired through higher interest rates compared to those of today. Increased interest rates would cause a fall in all kinds of interest-sensitive spending. The reducing of Chinese Treasury holdings would all else equal cause the foreign demand for US assets do decline, which would then lead to a dollar depreciation (Morrison and Labonte, 2012). All in all, given a large reduction in Chinas holdings of US public debt, the impact on the US economy would still be dependent on whether this reduction takes place gradually or suddenly. Some US policymakers also argue that Chinas large holdings of US public debt give it leverage over the United States on economic and noneconomic issues. An illustrative example of this concern is Ding Gang, an editor of Chinas Peoples Daily  [2]  , who wrote in an editorial in August 2011 that the Peoples Republic of China should create a direct link between the amount of US Treasury holdings with the US arms sales to Taiwan. Gang states Now is the time for China to use its financial weapon to teach the United States a lesson if it moves forward with a plan to sale arms to Taiwan. In fact, China has never wanted to use its holdings of U.S. debt as a weapon. It is the United States that is forcing it to do so. [à ¢Ã¢â€š ¬Ã‚ ¦] China has no choice but to use it as a weapon to defend itself when facing threats to Chinas sovereignty (Gang, 2011). Altogether, Chinas holdings in US public debt can be seen as a strong instrument to put pressure on the United States with regards to poli tical disputes between the two countries. As a result, the growing dependency of the US on China to purchase US Treasury securities to fund the countrys budget deficit has become a major concern to many US policymakers (Morrison and Labonte, 2012). However, the probability that China would suddenly reduce its holdings of US public debt is highly questionable because of the fact that doing so could potentially have a significant negative impact on the Chinese economy as well. The important causality which takes away Chinas incentive to sell is the fact that any Chinese attempt to sell a large portion of its US debt holdings could, on the one hand, dramatically reduce the value of its remaining holdings in international markets. On the other hand, a negative demand shock in the United States would also dramatically reduce US demand for Chinese exports, either through an appreciation of the Chinese Yuan against the US Dollar or a reduction in the US economic growth (especially if other foreign investors sell their US asset holdings as well and the United States are forced to raise interest rates in response) (Morrison and Labonte, 2012). This is especially severe because of the fact that China was the United States largest supplie r of goods imports in 2011. US goods imports from China totaled U.S. dollar 399 billion in 2011, a 9.4% increase from 2010 and up 299% since 2000. Imports from China into the United States accounted for 18% of overall US imports in 2010 (Office of the United State Trade Representative, 2012). A sharp reduction of US imports from China could therefore have a significant negative impact on Chinas economy, which heavily depends on exports into the United States for its economic growth. Moreover, in the case of China, economic growth is also seen as a vital source of political stability and therefore in the interest of the government. Consequently, it can be argued that the US and Chinese economies are mutually dependent  [3]  on each other, which, as a matter of fact, gives China very little leverage over US policy (Morrison and Labonte, 2012). The former US Treasury Secretary Lawrence Summers called the mutual damage which would occur to the US and Chinese economies the balance of financial terror (Dorn, 2008). For some time, this balance of financial terror as well as the global financial system has kept China off from exploiting their power position (Dorn, 2008). Nonetheless, regardless of the balance of financial terror, growing bilateral tensions over the US public debt between the United States and China can clearly be observed. For example, the government-controlled Chinese newspaper Xinhua News Agency expressed a lot of criticism on US economic policies regarding the US public debt situation: With its debt approximating its annual economic output, it is time for Washington to revisit the time-tested common sense that one should live within ones means (Xinhua News Agency, July 2011). The days when the debt-ridden Uncle Sam could leisurely squander unlimited overseas borrowing appeared to be numbered as its triple A-credit rating was slashed by Standard Poors (SP) for the first time on Friday. China, the largest creditor of the worlds sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of Chinas dollar assets (Xinhua News Agency, August 2011). To relieve further bilateral tensions between the two countries, China should pursue a more market-liberal path and the United States should abstain from implementing protectionist measures. Doing this, the US-China relationship should develop peacefully and global prosperity will continue. Consequently, the balance of financial terror would collapse and give way to free trade and capital freedom (Dorn, 2008). In conclusion, the main political issue from the perspective of the United States is not Chinas large holdings of US public debt per se, but rather the high US reliance on foreign capital in general and whether this reliance is sustainable in the future (Morrison and Labonte, 2012). Policymakers in the United States should therefore think about the medium- and long-run implications of the countrys high amount of public debt held by foreigners. To do that in an appropriate way, they have to take into account and to understand the economic and political relationships between the United States and its debt holders, with China leading the way. A first step to mitigate the problem is to launch political measures so that the United States increases its level of savings in the long-term in order to reduce the vulnerability to a possible shift away from US assets by foreign investors (Morrison and Labonte, 2012). The Role of U.S. Public Debt in the Global Economy Undoubtedly, the United States still plays an exceptional role in the global economy. First of all, the country is the largest economy in the world. Secondly, it clearly dominates the global monetary system: The United States capital markets are among the most liquid ones (Schuman, 2011) and the special status of the dollar as the worlds reserve currency has become an crucial aspect of Americas power, allowing the country to borrow effortlessly and maintain an assertive foreign policy (Warnock, 2010). In addition, the US dollar is the primary currency used in foreign exchange transactions and trade. Also, as already mentioned in the chapter before, countries such as China and Japan store their national wealth to a large extent in US public debt. The perception has always been that the United States has a safe haven status, meaning that when investors get nervous, they increase dollar-based assets, and especially also US public debt (Schuman, 2011). Having said all this, given the exc eptional status of the United States in the world economy, the global economic and political consequences of the development of US public debt are substantial. Increasing US public debt bears the risk of a fundamental change in the perception of the safe haven status of the United States. Schuman (2011) speculates on what would happen if this change in perception comes true  [4]  : US Treasury securities would be seen as riskier than before and would consequently lose their attractiveness. As a result, interest rates would increase in the United States, raising borrowing costs in the economy and making it more difficult for the US government to finance debt and budget deficits. This can potentially lead to a significant decrease in investments and consumption. The US dollar will presumably depreciate, which will devaluate currency reserves around the globe. All those effects taken together will have negative consequences on the growth of the US economy, lowering living standards for Americans and eventually leading to a slower growth of the world economy. To put it simple, a loss of confidence in the United States as a safe haven results in higher interest rates, which will automatically have negative consequences on the world economy (International Monetary Fund, 2012). Therefore, the exceptional role of the United States makes its public debt situation dangerous for the shape of the global economy due to the fact that overwhelming debt amounts can cause effects that potentially destabilize the world economy. In addition, the ten-year US Treasury bond has the status of the worlds risk-free asset, meaning that the United States is the basic standard by which risk in financial markets is assessed (Warnock, 2010). This is sometimes referred to as the risk-free standard and is a basic convention regularly used in all different kinds of valuations in the daily business world. In particular, the risk-free standard is an important measure in the context of corporate and asset valuation (Damodaran, 2008). Loosing the safe haven status of the United States as a possible consequence of the above-described developments means loosing the risk-free standard convention, resulting in global efficiency losses and higher risks of economic and financial fragmentation (Schuman, 2011). Although the United States exceptional status in the world economy makes its debt situation risky, that status obviously gives the country particular protection as well. A meaningful example of this protection is the warning of Standard Poors to downgrade the United States from its traditional prized AAA credit rating in April 2011 (Schuman, 2011): This warning was a strong signal that Standard Poors was not concerned about the special status of the US in the global economy, meaning that if the country is not able to get its debt situation under control, it will be confronted with a downgrade similar to those of Greece, Spain or Japan. However, financial market participants acted against what economic intuition and theory tells us. US Treasuries weakened immediately after Standard Poors announcement, a clear indication that investors were selling them. Nevertheless, they returned to their old strength shortly afterwards, suggesting that investors even bought US public debt after S tandard Poors warning instead of selling them to a large extent (Schuman, 2011). Moreover, some reactions of major US bondholders indicated that they are not concerned about the countrys financial condition. For example, at the time Japanese Finance Minister Yoshihiko Noda mentioned: [à ¢Ã¢â€š ¬Ã‚ ¦] basically we continue to believe that US Treasuries are an attractive product for us (Channel NewsAsia, 2011). A further crucial point in the context of the role of US public debt in the global economy is the argument that US policymakers have been relying probably subconsciously on the exceptional status of the United States (Schuman, 2011).  [5]  The particular role of the US in the global economy leads to the outcome that the country does not have to face dangers other nations could never avoid. A political implication of this behavior is presumably that according to some critical authors and journalists the United States are one of the few heavily indebted developed economies that does not have a credible plan to control deficits and debt  [6]  (Schuman, 2011). To put it in simple words, US policymakers have possibly been banking on being like American International Group (AIG) or General Motors (GM) in America or UBS in Switzerland, acting as if the country is too big to fail  [7]  . In conclusion, one can state that a debt crisis in Portugal for example can potentially create uncertainty through world financial markets, and if a larger country such as Spain fell into crisis, this uncertainty could have destabilizing effects. But US public debt bears the risk of crashing the entire operating system of the global economy. Hen