Assess the impact of television and video technology on children's Research Paper

Assess the impact of television and video technology on children's attention spans - Research Paper Example In the modern world there are many temptations for our children. With the development of technology, they received an access to different technological achievements everyone has at home. If in 1980s only radio usually entertained young people, nowadays they have an unlimited access to TVs and computers. Playing computer games is now a favorite occupation for our children. They also like to watch TV very much and many children start their day by switching the TV set on. Computers and television can help develop children’s intellect but the question arises how this habit affects children’s health. Certainly, it is a well-known fact that excessive TV watching is a very bad habit, but it is necessary to define what exactly it affects negatively. Bad eyesight and sedentary life are not all the negative consequences as now scientists have already paid attention to children’s attention span. If a child is developing in normal conditions, its attention span is constantly improving. However, some factors can influence the process of development negatively. These factors are now actively studied by experts. The first factor is anemia that is usually caused by iron deficiency. Anemia is â€Å"a condition in which a lack of iron results in a diminished amount of blood cells that carry oxygen through the blood† (Bruce, 2013). Anemia is frequently met state and if it has a light form, it is not considered as dangerous and can be easily cured. Serious forms of anemia can affect cognitive functions of children and their attention span. The second state that negatively influences the attention span of children is Attention Deficit Hyperactivity Disorder (ADHD).... This factor deserves special attention as it was proved that if a little child watch TV or play games very often, it may have problems with attention span in future. The objects move in the screen fast and do not allow a child to concentrate, thus it may lose such ability. The investigation held by Peter Jensen came to the conclusion that: "Extensive exposure to television and video games may promote development of brain systems that scan and shift attention at the expense of those that focus attention" (cited in DeGaetano, 2012) Now when the development of the technology is very fast some parents make a strange decision to send their child to school where the process of study is not connected with the technology. They are afraid that technological achievements can influence their child’s brain negatively (Kessler, 2012). This testifies that many parents do believe that visual media prevents children from normal concentration. According to Dr Jane Healy, "A 'good' brain for le arning develops strong and widespread neural highways that can quickly and efficiently assign different aspects of a task to the most efficient system...Such efficiency is developed only by active practice in thinking and learning which, in turn, builds increasingly stronger connections. A growing suspicion among brain researchers is that excessive television viewing may affect the development of these kinds of connections. It may also induce habits of using the wrong systems for various types of learning" (Healy, 1991). As teachers and parents can trace every day, modern children are really less attentive; they become more hyperactive, impulsive with less ability to concentrate. Such a change in children’s

Leadership Impact Essay Example for Free

Leadership Impact Essay This research paper is written on the Leadership styles and the impact they have on the workforce. My information is based on my direct observation while being employed in the U. S. Air Force. My paper will analyze Leadership styles by using two concepts from Robbins and Judge (2009). The two concepts I have chosen are Leader Behaviors (p. 397) and Vision Statement (p. 415). Leadership Behaviors Being in the military for the past nine years has giving me an opportunity to see many different leadership behaviors. Four leadership behaviors Robbins and Judge (2009) defined are directive, supportive, participative, and achievement-oriented leaders (p. 397). The directive leader defines what is expected of the worker and schedules the work (p. 397). I feel that most people start off in with this leadership behavior until they grow as a leader. The supportive leader is concerned with the needs of their followers and interacts with them (p. 397). I have worked with many leaders that have used this behavior and it make them a popular leader, but can make it hard for them to get work done by some of their followers. I have seen were the workers take advantage of a leader because they feel more like a friend and not a boss. The participative leader takes the input of the follower and uses them before making a decision (p. 397). The Air Force leadership does use this behavior by using a yearly climate survey. The last leader behavior is the achievement-oriented leader. I feel that for the most part the behavior is the hardest to work for. This leadership style does not show much concern for the followers and does not take in their input. The leader is goal orientated and expects the followers to perform at their best to meet the goals (p. 97). Vision Statement A vision statement is a tool that leadership can use to tell why the organization exists (Kaplan Norton, 2008). Most military units have a vision statement to motivate its members. My unit’s statement is Safety first, By the book, Then on time. Our vision statement put the safety of the workers first and the sets the attitude of how the work is to be done. Robbins and Judge (2009) state that a vision should be value centered (p. 415) and all the military units I have worked for have had a vision statement that puts it people first. I feel it can make it easier to work for someone if they value you. Conclusion Leaders may use any of the behavior styles talk about in the paper. Charismatic leaders will try to set a goal and good work environment for their workers (Fischer). The leaders of an organization will have to ensure they use the right behavior to motivate its workers. In Psalm 28:11 David asks to be taught the Lords way and be lead in a straight path. I think this is how a lot of employees feel and it is the job of the leaders to ensure they know what path the organization is going.

The Scarlet Letter - Impact of Sin on Dimmmesdale, Chillingworth and He

The Scarlet Letter - Impact of Sin on Dimmmesdale, Chillingworth and Hester   Ã‚   Charles Haddon Spurgeon, a seventeenth century Baptist preacher, commented that, "Trials teach us what we are; they dig up the soil, and let us see what we are made of." An individual either faces their actions or runs from them, and Gothic Romance authors often write about the evil that emerges in people when they conceal their sins. Throughout the novel The Scarlet Letter, Nathaniel Hawthorne demonstrates this idea through the actions of his three main characters, Hester Prynne, Arthur Dimmesdale and Roger Chillingworth. In spite of the nearly equal severity of their sins, Dimmesdale, Chillingworth and Hester react to their dilemmas in varying ways such as guilt, revenge and reconciliation.    Although he portrays the pious pastor, Arthur Dimmesdale handles his sin, adultery, by hiding this fault from everyone and in turn destroys himself with his guilt. Beginning in chapter three, the townspeople constantly see Dimmesdale with his hand over his heart. He does not posses the courage to show his shame openly, so he decides to punish himself through physical pain and nightly vigils. This torture becomes evident in chapter ten when Chillingworth removes Dimmesdale's garments and rejoices at the image of a scarlet letter, along with other markings, upon the preacher's chest. His strong sense of guilt also becomes apparent when he takes a midnight walk to the scaffold, where Hester and Pearl join him. At this point, Dimmesdale still cannot truly endure the shame in front of the real crowd. Ironically, the more guilt he feels the more compelling his sermons become. He attempts many times to indirectly tell his congregation... ... differently towards sin and Hester proves reconciliation as the best response to wrongdoings. Through Hester, Hawthorne successfully conveys his theme that concealing a person's faults draws forth more evil than imaginable, but bearing the consequences leads to salvation. Indeed, life's difficult trials bring out the true essence of a person, and one must exhibit inner strength while facing their shame in order to survive these trials.    Works Cited and Consulted:    Brown, Bryan D. "Reexamining Nathaniel Hawthorne's The Scarlet Letter. http://www.usinternet.com/users/bdbournellonie.htm. July 1, 2003.    Hawthorne, Nathaniel. The Scarlet Letter. New York: Penguin Books USA Inc., 1996.    Smiles, Samuel. "The Scarlet Letter." The Power of Sin. Ed. Martin Tucker. New York City: Frederick Ungar Publishing Company, 1962. 266.   

Opening up the Alaskan Arctic National Wildlife Refuge Essay -- Enviro

Opening up the Alaskan Arctic National Wildlife Refuge Many preconceived notions exist in the realm of environmental policy. Decisions are constantly made that effect human health or environmental integrity in order to reap great economic benefits for the many. Often these choices compromise the role of human beings as environmental stewards of the planet. It is my attempt in this paper to outline the development of a very controversial part of the proposed comprehensive energy policy: the opening of the Alaskan Artic National Wildlife Refuge (ANWR) to oil drilling. I will introduce the case by offering some background of the situation followed by an analysis of pertinent economic, ethical, social, and ecological issues. I will present the actors and their respective positions and investigate how they interacted with the rules, regulations, and laws that govern the policy. I will finally discuss what the potential alternatives are and what lessons are being learned. Background The Arctic National Wildlife Refuge of Northeastern Alaska, which stretches for 20 million acres across a fragile tundra landscape, is home to over 350 (nearly extinct) musk ox and 180 bird species, which migrate from even Argentina or Chile. It is the largest Polar Bear denning area in the United States, offers calving ground for the 129,000-member herd of Porcupine Caribou, and supports among the largest populations of grizzly bears, wolves and moose (Student Pirg’s 2001). It remains one of the most pristine areas on the planet and is especially sensitive to environmental pollution due to the slow growth rate of the ecosystem. The Refuge was first established in 1952 in a joint effort between biologist Lowell Summer and National Park Servi... ...Washington. Murphy, Kim. In Alaska, the Hunt for Oil, Gas only Begins at Wildlife Refuge; Energy: High Prices, Pro-Business Government Fuel the Drive for Drilling Activists are Gearing Up. Los Angeles Times February 6, 2001. Nuclear Energy Institute. URL: http://www.nei.org/ Student PIRG’s. Save America’s Arctic. www.pirg.org/enviro/arctic/index.html Time Magazine. How Much is Under the Tundra? Time Inc. 2/19/2001, Vol. 157 Issue 7. U.S. Fish and Wildlife Service. 2001. Potential impacts of proposed oil and gas development on the Arctic Refuge’s coastal plain: Historical overview and issues of concern. Web page of the Arctic National Wildlife Refuge, Fairbanks, Alaska. 17 January 2001. http://arctic.fws.gov/issues1.html Verhovek, Sam Howe. Drill, Say Alaskans, Who Know Their Pockets Are Lined With Oil. New York Times: Anchorage. March 15, 2001.

Modernism in Two Poems by Marianne Moore

Introductionâ€Å"The most serious poetry today is still modernist. Modernism in literature is not easily  summarized, but the key elements are experimentation, anti-realism, individualism, and a stress on the cerebral rather than emotive aspects† (Wills 24). To some extent, Marianne Moore's poems The Fish and A Grave really follow the discussed modernist principles, but it is difficult to agree that Moore completely denies emotiveness and replaces it with modernist cerebral attributes. As a result, it is possible to assume that The Fish and A Grave are the two examples of non-traditional modernist writing, in which experimentation, realism, and individualism are combined with unusual writing techniques, complicated poem structure, and extreme emotiveness.To start with, The Fish and A Grave display vivid similarities in the tone of writing, and the use of similar images. â€Å"The barnacles which encrust the side of the wave† in The Fish are evidently similar and are almost parallel to â€Å"the blades of the oars / moving together like the feet of water-spiders† in A Grave: the unpleasant and almost tragic character of water in both poems is critical to understanding the modernist implications of both poetic works. However, in order to completely realize the scope and meaning of Moore's modernist verses, we should analyze each poem separately.â€Å"Repeated / evidence has proved that it can live / on what cannot revive / its youth. The sea grows old in it† (Moore 32). This is where we face the complicatedness and incomprehension of modernist poetry. What did Moore want to say with this passage? Is it that she imagined nature in its full purposefulness which was not characteristic of traditional classical poetry? It is more probable that a thirty-year-old poet was striving to express her sympathies with the nature, which she persistently viewed as deeply abused.The description of nature's violence, its wholeness, the sea as the sou rce of physical injury and actually a threat to a human life – these are the signs of modernism in Moore's writing. Having depicted nature as the threat of violence, Moore risked causing misinterpretation of the literary and sensual implications in The Fish. For many of those who have read The Fish, violence in poetry may initially seem inappropriate and confusing. Yet this is not a reader's mistake: Moore was really trying to show the nature in its power which bordered on violence against human beings. â€Å"The water drives a wedge / of iron through the iron edge / of the cliff†, and the â€Å"external marks of abuse† (Moore 32) is the combination of nature's violence and the violence against nature; it is the combination of the two incompatible elements, which is the distinguishing feature of poetic modernism.The modernism of The Fish is in that Moore was actually trying to combine the incompatible images, allusions, implications, and ideas. The initially inc ompatible conjunction of accidental and purposeful is another distinguishing feature of modernism in Moore's poem. Criticizing Moore's works, Heuving writes that â€Å"it should not be surprising that ‘the chasm side is dead', but if the chasm side is dead, ravaged as it clearly has been by the force of water it contains, how does it live on the barnacles that adhere to its surface? Why does the sea, clearly the most active and powerful force in this scene, grow old within this teeming shelter?† (29)Moore neither answers these questions, nor provides the reader with a single opportunity to find these answers anywhere else within the poem. The reader finds himself in the slow motion of the undersea world, with which he is hardly familiar, and which seems even more threatening and complicated through Moore's descriptions: â€Å"All / external / marks of abuse are present on this / defiant edifice† (Moore 32).Moore writes her poem in a way to create an image of sini ster beauty of the sea she describes. The rhythm of her poetic lines does not break the smooth and threatening movement of the undersea. The eight stanzas of the poem display the evident and easily noticeable repetition of the consonants, as if waves create a cyclic sound pattern. â€Å"Whereupon the stars, /   pink, / rice-grains, ink-/ bespattered jelly fish, crabs like green / lilies and submarine /   toadstools, slide each on the other† (Moore 32).While the sea is the central image in The Fish, A Grave is the expression of Moore's impossibility to see this sea. Some â€Å"man looking into the sea† seems to close â€Å"the view from those who have as much right to it as / you have it to yourself† (Moore 49). A Grave is frequently interpreted as the expression of Moore's feminism: â€Å"Moore calls attention to two difficulties here: the problem of seeking through a man, including a man's viewpoint, and the related problem of establishing herself as a cen tered speaker when she cannot stand ‘in the middle of this' (Wills 110). However, modernism of A Grave is not in its feminist expressions, but rather in the opacity of its meanings and the confusion of various symbolic implications similar to those in The Fish.Modernism in poetry is invariably linked to difficulties of interpretation, and these interpretation difficulties and ambiguities are evident in both The Fish and A Grave. Moore has been extremely individual in her modernist expressions, and the poetic structure of A Grave again suggests that poetic modernism may and probably should exist in the area of extreme emotions. The sense of crisis makes both poems similarly modernist: the description of nature and its scenes are central to both poems, and it is very probable that Moore seeks resolution of her crisis in those natural sceneries.â€Å"The wrinkles progress among themselves in a phalanx – beautiful / under networks of foam, / and fade breathlessly while the sea rustles in and out of the / seaweed† (Moore 49). The two poems seem to create a single line of nature's threat and power. This â€Å"violent† line of nature is developed in The Fish, where Moore emphasizes the threat of nature towards a man; this line of nature's abuse reaches its climax in A Grave, where Moore asserts that â€Å"the sea has nothing to give but a well excavated grave† (Moore 49).The rhythm of Moore's A Grave is another display of modernism in her poetry. Moore seems to treat her rhythms and stanzas with almost painful desire to keep the rhyme. The reader is frequently obsessed by an impression that the rhythm of the poem prevails over its meaning. Yet, modernist writings are traditionally characterized by unusual and often difficult rhymes. The combination of complex stanzas with complicated meanings and literary implications makes certain works of modernist writing completely incomprehensible.This is not the case with Marianne Moore. Each l ine makes the rhymes enervated, and creates an unusual combination of the sea's threat and immobility: â€Å"the birds swim through the air at top sped, emitting cat-calls [†¦] and the ocean, under the pulsation of lighthouses and noise of / bell-buoys, / advances as usual, looking as if it wee not that ocean in which / dropped things are bound to sink† (Moore 49). The heavy contrast in this passage creates the impression of a deceptive revelation: one might think that the sea and its threats were unreal and were produced by an ill mind.However, it is a surface feeling: a Man and the sea are real. The word â€Å"consciousness† with which Moore concludes her poem, is the ultimate expression of her position against the described Man and against the sea as the grave for humanity. â€Å"Moore reserves her climactic position for the quality of attentiveness to self and to ‘other' which is her highest aesthetic and moral value, while giving her sea the last word, the last hiss† (Martin 63).ConclusionPoetic modernism was traditionally viewed as the combination of several critical attributes: poetic individualism, self-expression, complicatedness of writing, and emotional indifference. Moore has completely denied these approaches: poetic modernism cannot live without emotions. On the contrary, Moore's modernism in itself stems from the climactic emotions the poet wanted to express and to deliver to her reader. Poetic modernism of Marianne Moore is something more than the self-expression and the description of individualistic regressions. In Moore's hands modernism becomes global, challenging, and almost revolutionary. For many of us the sea and its threats will look as the end of everything, A Grave for humanity; yet, in Moore's vision it is only the beginning of everything that is meaningful to a person.Works CitedHeuving, J. Omissions Are Not Accidents: Gender in the Art of Marianne Moore. Detroit,Wayne State, 1992.Martin, T. Marianne Moore: Subversive Modernist. Austin: University of Texas Press, 1986.Moore, M. â€Å"A Grave†. In M. Moore, Complete Poems, Penguin Classics, 1994, p. 49.Moore. M. â€Å"The Fish†. In M. Moore, Complete Poems, Penguin Classics, 1994, pp. 32.Wills, P. Marianne Moore: Woman and Poet. National Poetry Foundation, Inc., 1990. Modernism In Two Poems By Marianne Moore Marianne Moore was one of the eminent poetesses of the Modern times. An integral contributor to the modern American literature, Moore’s poetry is considered as a linkage between nature and the human world. She alludes to scientific and historical knowledge and tries to evade literary allusions to prevent her from being casted as a stereo-type. Her poems are full of keen observations and generally hold up the images of birds, butterflies, animals, landscapes of England and New York. She is a â€Å"literalist of the imagination† who can â€Å"present for inspection†¦imaginary gardens with real toads in them.†In A Grave, Moore begins with a meditation on the impossibility of seeing the sea, when a â€Å"Man looking into the sea† takes â€Å"the view from those who have as much right to it as you have to it yourself.† Moore calls attention to two difficulties here: the problem of seeing â€Å"through† a man, including a man's viewpoint, and the related problem of establishing herself as a centered speaker when she cannot stand â€Å"in the middle of this.† Moore's depiction of the sea correspondingly emphasizes its opacity over its translucency and its surface activities over its symbolic meanings.While Moore may well have written this poem out of a personal crisis that involved thoughts of suicide, the speaker reminds herself that to seek relief in the sea is not to be mirrored in any improved way or to be freed of her. The speaker works her way out of her crisis by establishing and confronting the actuality or literality of the sea and of death, and her difference from them. The sea interestingly, in Moore's poem is not a reflective object but a grave. Also, it is man’s careful acts, that is, his surface activities that save him and not his self- projections. Men â€Å"lowering nets† unconsciously â€Å"desecrate this grave,† â€Å"as if there were no such thing as death,† the speak er of this poem, conscious of the ultimate meaning of penetrating the depths of the sea, trains her vision to the surface:â€Å"The wrinkles progress among themselves in a phalanx—beautiful under networks of foam  the tortoise-shell scourges about the feet of the cliffs, inmotion beneath them;†The end of the poem marks its intensity. Unlike the exposition, the last lines of the lyric compel us to view the surroundings and not just concentrate on the opacity of the sea surface. A forced consciousness of the meditation on the outer scene is emphasized by the poetess. The sound of birds and bell-buoys make â€Å"noises† which break the ambience of a visual representation of the situation. The poem resolves with its initial perspective of assuming something as what it is not and an intrigue picture of the ocean’s opacity in the concluding lines:â€Å"and the ocean, under the pulsation of lighthouse and noise of  bell buoys,  advances as usual, looking as if it were not that ocean in  which dropped things are bound to sink—  in which if they turn and twist, it is neither with volition nor  consciousness.†For Moore, in A Grave, meditation on the sea becomes meditation on the limits of human power and human language, and immersion, literal or figurative, threatens dissolution. â€Å"Death† is the central theme of the poem with an under cutting allusion to Moore's own brother’s death. Many critics have tried to see the poem in the light of Moore’s feminist voice. In the poem, as many critics believe, Moore defines the male dominium and tries to break it with her strong and persuasive words. A grave is a place where dead things are put to rest, but Moore's A Grave is a locus of vital and challenging re-vision.The poems of Marianne Moore have arguments, often difficult to follow but always worth the effort. Distrustful of overt emotion, her poems rely on understatement and reserve to create it, a s in the simple What are Years? or the penetrating A Grave. What Are Years? is a stellar lyric which ends by paradoxically equating a bird's joyful song with both mortality and eternity? Both the poems have a dominating â€Å"sea imagery†. The tone of morality in both the poems is unsurpassable. The genesis of these poems can be owed to the World War II. These two poems are typical of Moore’s. These are not meant for the pleasure of reflection.They refuse to be simpler than the world is and make more sense when read again and again until one understands the perspective for which they are written. Moore exploits imagery and visuals from the nature and embeds them in her poems. The linking of morality with a bird in What are Years? is quite similar to the theme of death and survival in A Grave. The poems deal with the strong imagery of the sea-how in one poem it is â€Å"continuing† and in the other, â€Å"the sea is a collector, quick to return a rapacious look. † The imagery of bird or flying is also present in both the poems.This imagery is evident to prove the aspiration of the speaker to be free and boundless. In both the poems, Moore indicates the sea’s power to erode and destroy; strongly alluded in A Grave and subtly done in What are Years. A deep penetration of this concept might find it’s parallel to the society and humanity- the dominium of man over everything and his struggle to free himself. This idea or concept might be traced to the World War aftermath. The vulnerability of the society and the deterioration was enough to evoke the modernist flame inside Moore to conceptualize the social, political and economical conditions into a poetic expression.Many American poets see Moore as one of the monuments of modernism, up there with Robert Frost and Wallace Stevens. Vision and viewpoint, an integral quality of modernist poets is present in the poems of Moore as well. She once wrote that poems were â€Å"imagina ry gardens with real toads in them.† Her poems are conversational, yet elaborate and subtle in their syllabic versification, drawing upon extremely precise description and historical and scientific fact. A â€Å"poet's poet,† she influenced such later poets as her young friend Elizabeth Bishop. A Grave â€Å"offered Bishop, as it offers us, an example of how a woman well-versed in the literary tradition, rather than capitulating to the convention of female silence, can wield that tradition and write her own eloquent verses.†To conclude, in the words of eminent literary critic, Jeredith Merrin, â€Å"Her ocean/grave represents death, humanity's common enemy, and yet her sea as re-former of inherited poetic patterns acts too as Nature's and Woman's ally. The heavy sibilance throughout Moore's poem (in all versions) reminds us of Satan, of the serpentine and treacherous ladies of Romantic poetry, of the actual foaming ocean that advances and retreats over the shing le of land, and of mortality which menaces and circumscribes our lives.But with her insistent sound-play–e.g., â€Å"you cannot stand in the middle of this†; â€Å"repression. . . is not the most obvious characteristic of the sea†; â€Å"their bones have not lasted†Ã¢â‚¬â€œMoore also hisses back at Man, and at the arrogant male poet in particular, who arrogates to himself dominion, who is always trying â€Å"to stand in the middle of a thing.† By choosing to conclude her poem with the word â€Å"consciousness,† Moore reserves that climactic position for the quality of attentiveness to self and to â€Å"other† which is her highest aesthetic and moral value, while giving her sea (as retributive force) the last word, the last hiss.†ReferencesMarianne Moorehttp://www.poets.org/poet.php/prmPID/96On Marianne Moore's Life and Career http://www.english.uiuc.edu/maps/poets/m_r/moore/life.htmMarianne (Craig) Moore (1887-1972) http://www.k irjasto.sci.fi/mmoor.htmTHE POEMS OF MARIANNE MOORE  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  http://query.nytimes.com/gst/fullpage.html?res=9F0CE2DE1F3FF937A35752C0A9629C8B63 The Collected Essays and Criticism -By Clement Greenberg, Johnhttp://books.google.com/books?id=N5yfxzOr4j8C&pg=PA85&lpg=PA85&dq=%22what+are+years%22&source=web&ots=8EvqzAyM3v&sig=pchzURGxqaSTHBL3I-kmOagGf-g#PPA85,M1

Macroeconomics Example

Macroeconomics Example Macroeconomics – Article Example US Money Supply and the Demand for Gold Institute Summary The latest open figures for M3 show that the US money supply has stretched by 9 in the midst of the latest 12 months. As a result of the relative size of the organizations stressed, a little rate change out of budgetary assets into gold would bring about a considerable rate increase in the gold expense. Despite the current a ton of thump, the eagerness for gold stays low. Gold is assembled, not exhausted like all assorted things, consequently the figures which are routinely appropriated demonstrating that the business excitement for gold has by and large surpassed the starting late dug supply of gold for very much a while are misleading. Pretty much all gold mined in the verifiable setting of the world contains todays over the ground gold stock. The late fall in the gold cost to 12 year lows shows an accessibility of the holders of this financial gold to offer their gold at these low levels.Regardless of the demonstrated inade quacy between the supply of starting late mined gold and the business eagerness for gold, or the level of researcher short offering, or the volume of gold advances, an enormous rally in the gold expense wont happen until there is a growth in the cash related energy for gold. A honest to goodness variable in keeping the budgetary excitement for gold is the supply of US dollars. Dollars and gold are battling evidences of cash, and the current trough in the eagerness for gold can also be considered as a top in the energy for dollars. Exactly when this diminishment puts impact begins to be recollected. It is pretty much beyond any doubt that various people will attempt to secure their wealth from being taken through swelling by changing over some of their financial assets into gold. As a result of the relative size of the business divisions concerned, a little rate move out of financial assets into gold would bring about an extensive rate increase in the gold expense. Equaling is center from this location. Nonetheless, if a national bank conveys an abundance of development will uncompromisingly move as will premium rates, and fiscal activity will unavoidably be constrained by the misallocation of advantages determined by knock.OpinionThe US money supply has increased which has also increased the inflation rate. The extra inflation was inflated into goods and other assets, whereas later the money has been routed into monetary assets such as shares and bonds, creating the misconception for the many who carefully watch the CPI and PPI that inflation is under control. This was best explained by Fishers equation which is real interest rate= inflation + nominal interest rate. This can be further explained in graph below using LM model I M/P1 LM1 L4 L3 L Y1 Y2 YThe US dollar played an important part in the demand for gold as dollar is its substitute. Thismeant that the less supply of gold would increase the demand for dollar. This can be shown in graph below S1 S P D1 S P1 DP1P D GOLD Quantity US DOLLAR QuantityHence if the central bank will produce more money inflation and interest rate will rise adversely affecting business activity. If they will produce less money  the economys development also will doubtless be constrained by a lack of the necessary lubricant for transactions.ReferenceSaville, S. (1997).US Money Supply and the Demand for Gold.  Gold-eagle.com. Retrieved 17 December 2014, from gold-eagle.com/article/us-money-supply-and-demand-gold

Themis, Dike, Justitia and Lady Justice

Themis, Dike, Justitia and Lady Justice The modern image of justice is based on Greco-Roman mythology, but its not a clear one-to-one correspondence. U.S. courts argue against the placement of any version of the 10 Commandments in courtrooms because it might be a violation of the establishment of a (single) state religion, but the establishment clause is not the only problem with putting up the 10 commandments in federal buildings. There are Protestant, Catholic, and Jewish versions of the 10 Commandments, each substantially different. [See 10 Commandments.] Variability is the same problem that is faced when answering the simple question of which ancient goddess the modern version of Lady Justice represents. Theres also a question of whether or not putting up pagan-based images is a violation of the establishment clause, but thats not an issue for me to unravel. In a forum thread about Themis and Justitia, goddesses of Justice, MISSMACKENZIE asks: I mean which did they intend to portray, a Greek or Roman goddess? And BIBACULUS answers: The modern image of Justice is a conflation of various images and iconography over a period of time: the sword and the blindfold being two of the images that would have been alien to antiquity.Here is some information on the Greek and Roman goddesses and personifications of Justice.ThemisThemis was one of the Titans, the children of Uranos (Sky) and Gaia (Earth). In Homer, Themis appears three times where her role, according to Timothy Gantz in Early Greek Myth, is that of imposing some kind of order or control over gatherings.... Sometimes Themis is called the mother of the Moirai and the Horai (Dike [Justice], Eirene [Peace], and Eunomia [Lawful Government]). Themis was either first or second to deliver oracles at Delphi an office she gave over to Apollo. In this role, Themis prophesied that the son of the nymph Thetis would be greater than its father. Until the prophecy, Zeus and Poseidon had been trying to win Thetis, but afterwards, they left her to Peleus, who became the morta l father of the great Greek hero Achilles.Dike and AstraiaDike was the Greek goddess of justice. She was one of the Horai and the daughter of Themis and Zeus. Dike had a valued place in Greek literature. Passages from (www.theoi.com/Kronos/Dike.html) The Theoi Project describe her physically, holding a staff and balance:If some god had been holding level the balance of Dike (Justice).- Greek Lyric IV Bacchylides Frag 5and[Depicted on the chest of Cypselus at Olympia] A beautiful woman is punishing an ugly one, choking her with one hand and with the other striking her with a staff. It is Dike (Justice) who thus treats Adikia (Injustice).- Pausanias 5.18.2Dike is described as almost indistinguishable from Astraea (Astraia) who is depicted with a torch, wings, and Zeus thunderbolts.JustitiaIustitia or Justitia was the Roman personification of justice. She was a virgin living among humans until the wrong-doings of mortals forced her to take flight and become the constellation Virgo, acc ording to the Adkinses in Dictionary of Roman Religion.On a coin depicting Justitia from A.D. 22-23 (www.cstone.net/~jburns/gasvips.htm), she is a regal woman wearing a diadem. In another (/www.beastcoins.com/Deities/AncientDeities.htm), Justitia carries olive twig, patera, and scepter.Lady JusticeThe U.S. Supreme Court website explains some of the images of Lady Justice that adorn Washington D.C.:Lady Justice is a blend of Themis and Iustitia. The blindfold with which Justice is now associated probably started in the 16th century. In some of the Washington D.C. statues, Justice holds scales, blindfolds, and swords. In one representation she is fighting evil with her gaze, although her sword is still sheathed.Besides all the statues of Lady Justice, Themis, and Justitia in courthouses across the U.S. (and world), the much revered Statue of Liberty bears a close resemblance to the ancient goddesses of justice. Even in antiquity the personification of Justice goddesses changed to fit the times or the needs and beliefs of the writers. Is it possible to do the same with the Ten Commandments? Wouldnt it be possible to distill the essence of each commandment and arrive at an order by consensus of some ecumenical council? Or let the different versions exist side by side just as the statues of Justice do in Washington D.C.?Images of Justice

The Sound and the Fury Quotes

The Sound and the Fury Quotes The Sound and the Fury is a complex and controversial novel set in the Deep South. Its author, William Faulkner, is considered one of the greatest American writers of the 20th century. The novel is required reading for many high school and college students as an interesting study of humanity. The quotes from the book below have been separated out by chapters for an easy way to get a sense of the storyline and characters. Notice how Faulkner developed his characters further through the use of intentional misspellings and poor punctuation. April Seventh, 1928 Youre not a poor baby. Are you. Are you. Youve got your Caddy. Havent you got your Caddy. Father and Quentin cant hurt you. Carry Maury up the hill, Versh. Versh squatted and I got on his back. They aint no luck on this place. Roskus said. I seen it at first but when they changed his name I knowed it. They aint no luck going be on no place where one of they own chillens name aint never spoke. We watched the muddy bottom of her drawers. You got him started on purpose, because you know Im sick. Caddy held me and I could hear us all, and the darkness, and something I could smell. And then I could see the windows, where the trees were buzzing. Then the dark began to go in smooth, bright shapes, like it always does, even when Caddy says that I have been asleep. June Second, 1910 I give it to you not that you may remember time, but that you might forget it now and then for a moment and not spend all your breath trying to conquer it. Because no battle is ever won he said. They are not even fought. The field only reveals to man his own folly and despair, and victory is an illusion of philosophers and fools. That never had a sister. Because if it were just to hell; if that were all of it. Finished. If things just finished themselves. Nobody else there but her and me. If we could just have done something so dreadful that they would have fled hell except us. I have committed incest I said Father it was I. Its not when you realize that nothing can help you- religion, pride, anything- its when you realize that you dont need any aid. Holding all I used to be sorry about like the new moon holding water. What a sinful waste Dilsey would say. Benjy knew it when Damuddy died. He cried. He smell hit. He smell hit. I didnt mean to speak so sharply but women have no respect for each other for themselves. Father and I protect women from one another from themselves our women. There was something terrible in me sometimes at night I could see it grinning at me I could see it through them grinning at me through their faces its gone now and Im sick. Purity is a negative state and therefore contrary to nature. Its nature is hurting you not Caddy. And maybe when He says Rise the eyes will come floating up too, out of the deep quiet and the sleep, to look on glory. And after a while the flat irons would come floating up. I hid them under the end of the bridge and went back and leaned on the rail. Only you and me then amid the pointing and the horror walled by the clean flame. I could not be a virgin, with so many of them walking along in the shadows and whispering with their soft girl voices lingering in the shadowy places and the words coming out and perfume and eyes you could feel not see, but if it was that simple to do it wouldnt be anything and if it wasnt anything, what was I. Ill tell you how it was it was a crime we did a terrible crime it cannot be hid you think it can but wait. Dont cry Im bad anyway you cant help it. Theres a curse on us its not our fault is it our fault. Listen no good taking it so hard its not your fault kid it would have been some other fellow. I hit him I was still trying to hit him long after he was holding my wrists but I still tried then it was like I was looking at him through a piece of colored glass I could hear my blood. I seemed to be lying neither asleep nor awake looking down a long corridor of gray halflight where all stable things had become shadowy paradoxical all I had done shadows all I had felt suffered taking visible form antic and perverse mocking without relevance inherent themselves. The dungeon was Mother herself she and Father upward into weak light holding hands and us lost somewhere below even them without a ray of light. A fine dead sound we will swap Benjys pasture for a fine dead sound. it was to isolate her out of the loud world so that it would have to flee us of necessity and then the sound of it would be as though it had never been. April Sixth, 1928 Once a bitch always a bitch, what I say. Ask her what became of those checks. You saw her burn one of them, as I remember. Im bad and Im going to hell, and I dont care. Id rather be in hell than anywhere where you are. I never promise a woman anything nor let her know what Im going to give her. Thats the only way to manage them. Always keep them guessing. If you cant think of any other way to surprise them, give them a bust in the jaw. I began to feel sort of funny and so I decided to walk around for a while. Mother was going to fire Dilsey and send Ben to Jackson and take Quentin and go away. Im glad I havent got the sort of conscience Ive got to nurse like a sick puppy all the time. If Im bad, its because I had to be. You made me. I wish I was dead. I wish we were all dead. Sometimes I think she is the judgment of both of them upon me. And just let me have twenty-four hours without any damn New York Jew to advise me what its going to do. I just want an even chance to get my money back. And once Ive done that they can bring all Beale street and all bedlam in here and two of them can sleep in my bed and another one can have my place at my table too. She had been a big woman once but now her skeleton rose, draped loosely in unpadded skin that tightened again upon a paunch almost dropsical, as though muscle and tissue had been courage or fortitude which the days or the years had consumed until only the indomitable skeleton was left rising like a ruin or a landmark above the somnolent and impervious guts. April Eighth, 1928 It was as different as day and dark from his former tone, with a sad, timbrous quality like an alto horn, sinking into their hearts and speaking there again when it had ceased in fading and cumulate echoes. I got de ricklickshun en de blood of de Lamb! I seed de beginnin, en now I sees de endin. harshly recapitulant, seeming to get an actual pleasure out of his outrage and impotence. The sheriff did not appear to be listening at all. Of his niece he did not think at all, nor of the arbitrary valuation of the money. Neither of them had had entity or individuality for him for ten years; together they merely symbolised the job in the bank of which he had been deprived before he ever got it. Caddy! Beller now. Caddy! Caddy! Caddy! There was more than astonishment in it, it was horror; shock; agony eyeless, tongueless; just sound, and Lusters eyes backrolling for a white instant. The broken flower drooped over Bens fist and his eyes were empty and blue and serene again as cornice and faà §ade flowed smoothly once more from left to right, post and tree, window and doorway and signboard each in its ordered place.

Foreign Policy Analysis And Random Actor Model Essay

Foreign Policy Analysis And Random Actor Model - Essay Example Policies are value expressions or better still preferences that represent future preferences against others. However, a nation has her foreign policies as decisions that point to the future on accounts of other nations as against her internal decisions (Kent, 1969, 96). The analysis revolves aroundthe assessment of international as well as internal domestic political environment. It also entails setting goals and determining the options on foreign policies. Therefore, through foreign policies, a nation’s internal politics are linked to the external decisions made by other states or decision makers.Actor models are basic tools of applications that are used to evaluate the eventual performance or outcome by a specific policy decision taken by an individual or in this case a state. The applications are more relevant and dependent that manual analysis of the policy performance. The models are differentiated by the actor focus and specifications. In the Random Actor model, the two components that matter are the game and the decision. While in the decision aspect the model reasons and chooses among many available choices, the game aspect entails the logical evaluation of the decision adopted. Rational actor model involves the players taking decisions on policies based on thorough scrutiny as well as applying the notion that governments act from a rational perspectives. The illustration however reveals that it is not always the case that the two will act concurrently for the welfare for both concurrently. A repeat of the game reveals a inanimate change of decision s by the parties to maximize on their gains. Nevertheless, optimal gains are seen to be realized in the cooperation efforts as well as in the rational decision s that will benefit all. Rational analysis evaluates government’s decisions and policies on the available facts that were applied while adopting and designing the policies. It is a purposeful behavior which entails acting at the influenc e of reasoning (Kahler, 1998, 921-922). The objectives also are evaluated in analyzing what rational interested that the governments behavior imply. The model asks whether the government decisions were meant to maximize the benefits in comparison to the options forgone. Moreover, the model evaluates the nature of interactions based on strategic analysis. Rationality therefore implies that the actions of a player, in this case the government, are somehow connected to the intended goals or objectives. Ethical behavior in decision making may not necessarily imply rationality (Slantchev, 2005, 1). Whenever a government intends

Academic montioring Essay Example | Topics and Well Written Essays - 500 words

Academic montioring - Essay Example It is worthwhile to consider some of the possible monitoring systems and strategies that a teacher can employ in K-5 grade class room. One strategy a teacher can use in a class to monitor the understanding level of lesson materials of students in K5 is to ask the students to draw pictures on the taught items. Sometimes the children may not be willing to draw the picture. But if they are motivated they do the work. The teachers can understand the child’s level of understanding even if the pictures are not worth watching. The drawn up piece can be considered to be a mirror kept against the child’s progress. In certain cases the teacher can ask the students to take the role of a teacher in group works. A talented or pre instructed student can easily find out the problems of his or her friends. Students will easily be able to gather information from their friends. Children open up their difficulties in studies to their friends. Then the teacher can cleverly identify the pro blems and help the children in tackling their problems. Effective monitoring in the classroom can be done in a different way. If the child is totally indifferent to the works given in the class, the teacher can promote him to do works of his or her own. Sometimes the child may select works outside the syllabus and it may not come up to the expected standard. Through this the teacher can understand the student’s ability in different areas. Once he or she gets the appreciation from the teacher there starts the change .Gradually the teacher can bring the child to class related assignments and activities. Similarly, the teacher can also do the strategy of assigning the works and telling the students to do it for their loving ones. Sometimes they will do it for their parents, siblings or friends. At the end of each week the teacher can ask them how much they could score for their loved ones. This has shown great results in the progress of most students in

Alcohol and crime in US Essay Example | Topics and Well Written Essays - 750 words

Alcohol and crime in US - Essay Example elaxation in a person who has consumed alcohol, giving them a sense of confidence and boldness, which they cannot display in their otherwise sober state (Uggen, 130). Thus without the subsequent negative consequences of alcoholism, it remains the best anesthesia for the human soul (Hutchison, 61). This notwithstanding, alcohol and crime has a very thin margin in between. Though the argument is that consuming alcohol by itself is not a vice, the impact of alcohol on personal behavior is the cause for concern. While there has been major concerns of alcohol consumption, based on the problems it causes health wise, little has been done to scrutinize the relationship between alcohol and crime. It came to my realization that alcohol is ruining our society extensively. Some question arises that this paper shall attempt to answer: What exactly is the relationship between alcohol and crime? How significantly is alcohol related to crime in U.S.? Why the legal minimum age of drinking is 21 in U .S.? What are the effects of a decrease or increase in the legal minimum age of drinking? How many offenders consume alcohol prior to committing offences in U.S? Does the availability and distribution of alcohol in U.S affect criminal rate? In the light of this, then I stage my argument that the government should strongly control alcohol use in the US. The purpose of this research is to find out how the consumption of alcohol affects people engagement in acts of crime. Before discussing my topic, I will provide a background for the reader to understand my claim. To do this I will use an article entitled "Alcohol, Drugs and Violence" written by Robert N Parker and Kathleen Auerhahn. They present a background and consequences of alcohol abuse. They found enough evidences to suggest that alcohol consumption is significantly connected to all sorts of violence. This source is important in informing the reader why alcohol is dangerous. I will focus on illustrating the risk of alcohol in my

Global GDP, Death Rate, and Life Expectancy Research Paper

Global GDP, Death Rate, and Life Expectancy - Research Paper Example First, as per capita GDP increases, the life expectancy also increases for that country. Second, as per capita GDP increases the death rate would decrease for that country. The data was gathered from the US Central Intelligence Agency Factbook available online. Information was gathered from 220 countries that listed their per capita GDP, death rate, and life expectancy. Every attempt was made to use the most current data available, and all of the data was from 2007-2008. No data used was older than the data from 2007. The per capita GDP was the 2007 rate, and the death rate and life expectancy were based on 2008 estimates. From this list of 220 countries, a group of 30 countries were selected for analyzing by the following method: The countries were sorted in ascending order according to the per capita GDP. The highest and the lowest countries were eliminated. The countries were selected by choosing every seventh country from the list, resulting in a final list of 30 countries. Standard deviation was calculated using the n-1 method using the Excel spreadsheet. The per capita GDP had a high of $79,400 in Luxembourg and a low of $300 in the Democratic Republic of the Congo, for a range of $79,100. The mean per capita GDP was $7600, with a standard deviation of $17,635. Though the United States was not on the list used for evaluation, it is included as a reference point at $45,800. The Death Rate The Death Rate is measured in deaths per 1000 population. It ranged from a low of 3.53 in the Gaza Strip to a high of 22.33 in Lesotho for a range of 18.8. The median death rate was 7.49, and a standard deviation of 4.11. The median death rate is marginally less than the US's 8.27. Life expectancy is listed in years and ranged from a low of 40.17 years in Lesotho to a high of 79.36 years in Austria. The life expectancy range was 39.19 years and a median life expectancy of 73 years with a standard deviation of 9.91 years. The global median life expectancy is below the US's life expectancy of 78.14 years. Tables 1, 2, and 3 are the comprehensive lists of the data used for this research that has been ordered by per capita GDP, death rate, and life expectancy. The Data: Initial Examination For an initial examination of the data, it is helpful to view the information on a histogram. This gives a visual indication of the range of the data as well as the distribution across the range. Figures 1, 2, and 3 are the histograms that represent the per capita GDP, death rate, and life expectancy respectfully. Table 1: Data sorted by per capita GDP Country Per Capita GDP Rank Per Cap GDP Death Rate per 1000 pop Rank Death Rate Life Expect Life Exp Rank Luxembourg $79,400 1 8.43 18 79.18 3 Ireland $46,600 2 7.77 15 78.07 5 Austria $39,300 3 9.91 21 79.36 1 Germany $34,100 4 10.8 24 79.1 4 Faroe Islands $31,000 5 8.67 19 79.29 2 Bahamas, The $28,000 6 9.22 20 65.72 24 Czech Republic $24,500 7 10.69 23 76.62 8 Oman $19,000 8 3.68 3 73.91 12 Latvia $17,700 9 13.63 28 71.88 18 Poland $16,200 10 9.99 22 75.41 10 Botswana $14,300 11 14.02 29 50.16 29 Mexico $12,400 12 4.78 7 75.84 9 Cuba $11,000 13 7.19 14 77.27 6 Saint Vincent and the Grenadines $9,800 14 5.96 10 74.34 11 Thailand $8,000 15 7.17 13 72.83 17 Ecuador $7,200 16 4.21 6 76.81 7 American Samoa $5,800 17 4.13 5 73.47 14 Tonga $5,100 18 5.12 8 70.44 20 Maldives $4,600

Analysis and forecasting Essay Example | Topics and Well Written Essays - 1250 words

Analysis and forecasting - Essay Example Within these markets they have been able to develop segments and market effectively to them. They are also making steady progress into the educational market. Dell's primary competitor in the PC and peripheral market is Hewlett-Packard; HP #1 in the peripheral market and #2 in the PC market (Davis, 2001). Other rising competitors are Sony, Microsoft and E-Machines. Dell still has a prominent place in the marketplace, but will need to leverage peripherals to stay ahead f the pack. Products are Dell's forte and are targeted at very specific markets. Their placement is based on their direct sales model and more recently through non-traditional efforts like kiosks. Dell's promotional efforts have been effective through the use f traditional advertising on TV and direct mail, while also maximizing the effectiveness f email and the Dell web site. Price is a key differentiator for Dell and the use f state f the art production facilities has enabled Dell to keep their prices very competitive. Dell has been carried through the wave f technology the last 20 years without really contributing any new technology. There is very little spent on research and development, both viewed as crucial for the livelihood f major tech firms. A recent threat is the emphasis on non-traditional competitors, notably Sony and Microsoft, entering the fray and innovatively integrating various digital components together (PDAs, digital cameras, computers, video, etc). To maintain its competitive advantage, Dell must enhance and diversify its line f products offered to consumers and corporations. This will enable Dell to differentiate their offerings from the competition could give Dell a fresh look and enhance their reputation f providing cutting edge technology first. The initial stages f research questioning are key as they set the tone and focus for the final objective and/or opportunity. Clearly determining the end goal is crucial, otherwise the study may be a waste f precious resources (time and money) - or worse, the data analyzed may be misconstrued in such a manner that it would lead to poor business decisions. How do organizations avoid making these costly mistakes By employing the practice f research design to properly structure the study to achieve the desired objectives. Good research is derived, in part, from the following characteristics: clearly defined purpose, detailed research process, thoroughly planned research design, and maintaining high ethical standards. One f the final stages f research questions is deriving the research problem statement. This can be done by generally brainstorming ideas for organizational improvement, such indicating known problem areas f concern, and outlining goals for the organization. For example, Dell has the following goals: (1) conduct research to gather and analyze research new markets, and (2) make new products available to customers who are already intent on purchasing a base computer system. Combining these goals into a problem statement, "What (new) ancillary products could be sold to drive revenue, when combined with (existing) product lines" Dell

Global GDP, Death Rate, and Life Expectancy Research Paper

Global GDP, Death Rate, and Life Expectancy - Research Paper Example First, as per capita GDP increases, the life expectancy also increases for that country. Second, as per capita GDP increases the death rate would decrease for that country. The data was gathered from the US Central Intelligence Agency Factbook available online. Information was gathered from 220 countries that listed their per capita GDP, death rate, and life expectancy. Every attempt was made to use the most current data available, and all of the data was from 2007-2008. No data used was older than the data from 2007. The per capita GDP was the 2007 rate, and the death rate and life expectancy were based on 2008 estimates. From this list of 220 countries, a group of 30 countries were selected for analyzing by the following method: The countries were sorted in ascending order according to the per capita GDP. The highest and the lowest countries were eliminated. The countries were selected by choosing every seventh country from the list, resulting in a final list of 30 countries. Standard deviation was calculated using the n-1 method using the Excel spreadsheet. The per capita GDP had a high of $79,400 in Luxembourg and a low of $300 in the Democratic Republic of the Congo, for a range of $79,100. The mean per capita GDP was $7600, with a standard deviation of $17,635. Though the United States was not on the list used for evaluation, it is included as a reference point at $45,800. The Death Rate The Death Rate is measured in deaths per 1000 population. It ranged from a low of 3.53 in the Gaza Strip to a high of 22.33 in Lesotho for a range of 18.8. The median death rate was 7.49, and a standard deviation of 4.11. The median death rate is marginally less than the US's 8.27. Life expectancy is listed in years and ranged from a low of 40.17 years in Lesotho to a high of 79.36 years in Austria. The life expectancy range was 39.19 years and a median life expectancy of 73 years with a standard deviation of 9.91 years. The global median life expectancy is below the US's life expectancy of 78.14 years. Tables 1, 2, and 3 are the comprehensive lists of the data used for this research that has been ordered by per capita GDP, death rate, and life expectancy. The Data: Initial Examination For an initial examination of the data, it is helpful to view the information on a histogram. This gives a visual indication of the range of the data as well as the distribution across the range. Figures 1, 2, and 3 are the histograms that represent the per capita GDP, death rate, and life expectancy respectfully. Table 1: Data sorted by per capita GDP Country Per Capita GDP Rank Per Cap GDP Death Rate per 1000 pop Rank Death Rate Life Expect Life Exp Rank Luxembourg $79,400 1 8.43 18 79.18 3 Ireland $46,600 2 7.77 15 78.07 5 Austria $39,300 3 9.91 21 79.36 1 Germany $34,100 4 10.8 24 79.1 4 Faroe Islands $31,000 5 8.67 19 79.29 2 Bahamas, The $28,000 6 9.22 20 65.72 24 Czech Republic $24,500 7 10.69 23 76.62 8 Oman $19,000 8 3.68 3 73.91 12 Latvia $17,700 9 13.63 28 71.88 18 Poland $16,200 10 9.99 22 75.41 10 Botswana $14,300 11 14.02 29 50.16 29 Mexico $12,400 12 4.78 7 75.84 9 Cuba $11,000 13 7.19 14 77.27 6 Saint Vincent and the Grenadines $9,800 14 5.96 10 74.34 11 Thailand $8,000 15 7.17 13 72.83 17 Ecuador $7,200 16 4.21 6 76.81 7 American Samoa $5,800 17 4.13 5 73.47 14 Tonga $5,100 18 5.12 8 70.44 20 Maldives $4,600

Feminism in Film Movie Review Example | Topics and Well Written Essays - 2250 words

Feminism in Film - Movie Review Example The first is a romantic comedy romp set in stylized candy colors with serious underlying tones. The second is a true-to-life drama that is serious and heavy from the get-go. But both speak volumes on female oppression and the primacy of the "male gaze" in film and popular culture. Laura Mulvey (1990) has come up with the theory of the "male gaze", a theory that visual pop culture is tailored around pleasing the heterosexual male spectator and satisfying his desire for pleasure. Says Mulvey: In a world ordered by sexual imbalance, pleasure in looking has been split between active/male and passive/female. The determining male gaze projects its fantasy onto the female figure, which is styled accordingly. In their traditional exhibitionist role women are simultaneously looked at and displayed, with their appearance coded for strong visual and erotic impact so that they can be said to connote looked-at-ness. Woman displayed as sexual object is the leitmotif of erotic spectacle: from pin-ups to striptease, from Ziegfield to Busby Berkeley, she holds the look, plays to and signifies male desire. This paper will explore two movies where the issue of sexual roles, and the objectification of women, come into fore. These two movies are But I'm a Cheerleader and Boys Don't Cry. ... The film is a virtual commentary on stereotypes and the deleterious effects of stereotyping. For instance, the "evidence" used to demonstrate that Megan is a lesbian or has lesbian tendencies is the fact that she is a vegetarian, the photos she keeps of girls, and a displayed poster of Melissa Etheridge, known to be a gay icon admired and loved by lesbians. Equally disturbing are the activities they are made to undergo at the camp. For instance, they are bombarded by images of women performing tasks that are stereotyped as being for women and men performing tasks that are widely regarded as being for men. What this does is that it pigeonholes women and relegates them to certain roles in society, and conveys the message that they cannot nurture dreams that defy social conventions or venture beyond the parameters that have been set out for them. In effect, this supports the theory of the "male gaze", for in fact, these roles and these boxes have been created by a largely patriarchal and heterosexual society, where women are judged according to the yardsticks set up by men. Th e attractiveness of women, for instance, is judged through male lenses. If a woman behaves in a manner disapproved by men, then she is castigated, or in this case, called a lesbian. For example, the lead character's abject refusal to make out with a male character in the movie, Jared, is perceived as a deviation from the norm. This springs from the assumption that women jump at the chance to make out with men. The look and feel of the movie is very cotton-candy. There are deep hues of blue and pink. This suggests that the director is using color to further emphasize the point on stereotyping. Deep blue is

The Benefits of Healthy Eating Essay Example for Free

The Benefits of Healthy Eating Essay Food is the key to life. We need food for the basics of everyday life to pump blood, move our body, and think thoughts. We can eat to live well, live longer, and extend the quality of life. Eating is one of life’s greatest pleasures. It is also a powerful way to enhance or impair your health. Most of us are aware that food choices are important to health; very few people truly realize that foods can promote health. Western medicine is so focused on treating disease that prevention is often ignored. Part of disease prevention is making sure you are eating foods that are healthy and nutrient dense. To function to the best of our body’s ability it requires balance and harmony. The best place to start is with healthy eating. The benefits of healthy eating are exceptional and there are many far- reaching health advantages and gains that cannot be overlooked. Healthy eating practices are important in shaping lifelong behaviors, as well as affecting ones’ health and wellness. Harvard School of Public Health challenges us all to follow a healthy foods diet to see how it can make a positive impact on your health. Vegetables and fruits are clearly an important part of a good diet. Most everyone can benefit from eating ore of them, but variety is as important as quantity. No single fruit or vegetable provides all the nutrients you need to be healthy. The key lies in the variety of different vegetables, fruits, whole grains, and lean proteins that you eat daily(Vegetables And Fruits: Get Plenty Everyday,  ). Everyone from a small child to a mature adult requires a healthy eating habit to be physically in peak form. The food you eat can influence how you feel and how you look they can affect your health. The health benefits associated with healthy eating include maintain a healthy body weight, lower blood pressure, ower cholesterol, healthy blood sugar levels, and a decreased risk of developing heart disease, diabetes, and cancer. These health benefits will also allow you to have more energy, think more clearly, and have an improved quality of life. Your body runs on fuel in the form of food, and if the fuel you put in your body is not high grade, you should not expect your body to give you peak performance. To keep your body running to the best of its ability, it is up to you to feed it healthy foods (Covelli, 2011). As noted in the book Eating Well For Optimum Health Weil, 2000, p5), â€Å" healthy eating is the cornerstone of a healthy lifestyle. † Hippocrates advised people to â€Å"let food be your medicine and medicine be your food. † Healthy eating is not just about extendin g life but about extending the quality of life. It is probably the easiest and most important way in which you can keep active and shield yourself from the many diseases that have become more common, as we grow older. By eating healthy you will boost your energy levels, improve your bodily functions, help to improve your immune system, get better sleep, and even have more radiant skin. Who does not want to feel more energetic and lively? You will be able to manage more tasks and more importantly, you will live life to the fullest. I do not know about you but having radiant skin sounds wonderful, instead of having gross cellulite. What you put on your plate, day after day, will play a major role, along with your genes, in determining whether you will live a long healthy life or succumb to a heart attack, a stroke, type 2 diabetes, or cancer. If you look closely at all diseases, one thing pops out at you; they are all reversible. In addition to supplying the basic needs of the body for calories and utrition, a healthy diet should also reduce risks of disease and fortify the body’s defenses and intrinsic mechanisms of healing. Even small changes in your eating habits can make a big difference in your body and the way you feel. A healthy diet leads to a better performance of the body and mind. What you put into your body not only affects your physical well being, but also can impact your psychological well-being. Foods influence mood and contribute to both positive and negative feelings. Therefore, making healthy good choices can contribute to a variety of improvements to your mental and sychological well-being. Eating a healthy, well balanced diet has been shown to impact a number of mental health conditions positively. It can help reduce the negative symptoms of attention deficit hyperactivity disorder, reduce depression symptoms, reduce anxiety, and reduce chances of bi polar episodes. The typical â€Å"Western† diet that is high in sugar, processed foods, and alcohol tends to aggravate these disorders. According to Andrew Weil, MD (2012), many studies link specific nutrient deficiencies to suboptimal brain function and mental / emotional health. The most important by far is the lack of omega-3 fatty cids. These special fats are critically important for mental health. The body needs regular daily intake of adequate amounts of both EPA and DHA, two long chain omega-3 fats. Low levels of DHA might increase the chances of developing dementia. The lack of vital nutrients in our diet can be responsible for exacerbating the symptoms of some pre existing mental health conditions. Keeping your brain sharp and functioning at its best can make you feel better about your abilities as you age and will help you remain active, which can also help reduce your chances of experiencing depression. Following a healthy ating regime leads to engaging in a lifestyle that is fulfi lling, beneficial, and might possibly offset the desire to change any other harmful habits. Our bodies and our minds are connected. Stress can take a toll on our physical health. By understanding that unhealthy eating causes more stress on our bodies and how that impacts our health, we can begin to take steps to laying the foundation for complete health by changing our eating from unhealthy to healthy. It is important to know how eating healthy and unhealthy foods affects your body. The brain is one of the most important organs in the body to keep well ed, and a healthful diet is essential to keep it running at full capacity. Your brain cells require twice as much chemical energy from your diet as any other cell in your body. When you are eating unhealthy it hinders brain function and causes reduced self-esteem, stress, foggy thinking, mood swings, and confusion. If you are not eating nutrient rich foods most of the time, your brain cannot produce substances required to maintain a healthy mood. The foods you eat can have an immediate impact on your mood. Certain foods trigger neurotransmitters in the brain that can reduce stress and promote calmness. Eating foods high in vitamin D, serotonin, folate, B3, and B12 are excellent for your emotional well being. When you are feeling emotionally well you are also able to handle stress in a positive manner. Choosing foods healthy and nutritious can give you a sense of control and allow you to feel proud of yourself. These increases in positive feelings for yourself and improvements in your appearance can result in your overall self esteem. The foods you eat now can result in good or bad health in the future. As Dr. Gillian McKeith (2006), has said many times in her book and on her television show â€Å"You Are What You Eat†. Healthy eating simply means having foods that aid in the growth of the body, improve many functions, provide protection from diseases, and help in building a strong immune system. To eat healthy is much easier than you think. Taking small simple steps that together add up to a huge leap forward in your health. Diet has a special significance among lifestyle factors in that people have total control over it. Being able to function better is something that everyone wants to see happen in their bodies. You are only as healthy as the natural world in which you live. The gains from ealthy eating are tremendous and more than worth it. So go ahead follow a diet full of healthy foods and see how it can make a positive impact on your health and life. References Covelli, G. (2011). How Eating Healthy amp; Unhealthy Foods Affect Your Body. Retrieved from http://www. livestrong. com/article/41294-eating-unhealthy-foods-affects/ McKeith, Dr. G. (2006). You Are What You Eat Vegetables and Fruits: Get Plenty Everyday. (). Retrieved from http://www. hsph. harvard. edu/nutritionsource/vegetables-full-story/#bottom_line Weil, MD, A. (2000). Eating Well For Optimum Health Weil, MD, A. (2012). Spontaneous Happiness

Emerging Real Estate Market in Mumbai

Emerging Real Estate Market in Mumbai Introduction: India has firmed up its place in the world business space prompting global business houses to sit up and take a fresh view on India as a business and investment destination. In the last two years, Indian economy has grown well despite nature’s fury or other global adverse events. India is fast establishing itself as an alternative to China in a variety of sectors, particularly IT-ITES, manufacturing, and real estate. The most spectacular resurgence has been that of the real estate sector, which is back in business with a bang. New projects, superior quality product, new growth corridors, increased infrastructure spending, falling cost of finance and interest, and growing capacity of common man in the key reasons behind the steady growth in real estate market. With stock market being highly volatile, investment in real estate has begun to look attractive and competitive with typical yields of 10-12% per annum are achievable, even though specific return is always linked to property specific factors, dynamics of real estate market and the overall economic performance. Real estate is fast turning out to be a compulsive investment bet as compared to other investment vehicles such as capital and debt markets, bullion market etc. It attracts investors by offering a possibility of stable income yields, moderate capital appreciation, tax structuring benefits and higher security being tangible asset. With these prime factors there are several micro factors responsible for the returns on investment and those are location of the property in macro and micro context, the usage of property, the quality of tenant, the capital value and achievable rental, the prevailing structures of property tax and stamp duty. The study includes the macro economic factors that make India a favourable investment destination. The purpose of the study is to give a comprehensive overview of the emerging Real Estate market of Mumbai. Today’s market is at a stage of ambiguity so a detailed study is required in this respect. In the final report detailed analysis will be carried out by fragmenting the market into Residential, Commercial and Retail space. An overview of each of these markets is included in the current report. The study will also include what are the various financing options in the emerging markets currently. A detailed survey will be carried out for the final report based on a questionnaire and will be send out to the various players ( Private Equity funds, Domestic Financial institutions, Local Real Estate Developers and Property Consultants to assess the various options available for Fund raising. Currently an introduction is also included on the same. Characteristics of the Real Estate Market in India: With reference to the availability of infrastructure facilities, following cities are currently attracting MNCs/corporate/real estate developers: Tier I cities, Mumbai (Commercial hub), Delhi (Political hub) and Bangalore (Technological hub): Preferred option for many new market entrants Command the highest international profiles and significant proportion of FDI Offer qualified labour pool and the best infrastructure facilities Exhibit development of sub-urban commercial real estate Yield of 9.5 – 10% (Real Estate Sector – The India Story Submitted by Miss Sonia Sahni Asst Manager Corporate and Investment Banking, ABN AMRO Bank, Nariman Point, Mumbai) 2.0 Macro-Economic Factors India: Background of the Economy of India during 2008 and early 2009: Last year 2008 was quiet a setback for the real-estate sector in India after the boom of the previous three years where the property market registered a return of more than 30-40% every year. The sector had faced a down trend where the property prices corrected by over 30%. This was due to the sub-prime crisis in the United States and also the correcting Capital Markets and bankruptcy of the MNC’s and the Banks. This resulted in loss of liquidity and hence a fall in demand. In August 2008 the inflation reached as high as 13% which forced a knee jerk reaction from the RBI (Reserve Bank of India) to cut the cash reserve ratio, the repo and the reverse repo rate which warranted the Banks to lend less and as a result of the further shortage in liquidity the real-estate market took a plunge. However, the economy has recovered by leaps and bounce and which is reflected by the chart below: Sam Mahtani, emerging equities manager at FC, is confident on Indias economic prospects. Over the next 10 years, UBS estimates economic activity in India will increase by around 8.5% a year, a rate comparable with China and beyond the global average. We think that this growth rate could be achievable if Indian policymakers start to undertake structural reforms in the economy. Over the next five years, the government is committing an estimated US$500 billion to road, rail, port and other vitally needed upgrades. If the right legislation is put in place and managed effectively, this could represent the springboard for long-term economic growth rates in excess of Chinas†, he believes. GDP of India: The chart shows that the GDP growth rate of India and China are far ahead than any other country in the world. This shows that the standard of living in the country is high. GDP reflects the total income, the total output and the total expenditure of the country. The economy of the country is the twelfth largest in the world as per the recent market exchange rate and it is ranked number four as per purchasing power parity. It is the 2nd fastest growing economy in the world. The service sector of India contributes more than 50% to the GDP and real-Estate sector is the third largest among it. Mumbai is the sole largest contributor to the national GDP and the economics of Mumbai further supports the fact. The above figure shows the long term growth rate of GDP of India against the Developed counties of the World. Economy of India (mid 2009) and its impact on Real Estate: However the economic condition of the country has improved in the last year. This was a great precedent for the Real-estate sector in India and especially Mumbai. It has always been witnessed during recession that the financial cities of the world take the hardest hit but on the other hand recovery is quickly as well. The inflation rate in India is 0.30% on 1st December 2009. The CRR is 5% and repo rate is 4.75% and reverse repo rate 3.25% which is commendable and which has increased liquidity in the market and as a result of this the property prices have gone up in the country. The stock market has recovered exceedingly well and it had an almost 50% rise than the last year’s index. This has further increased the confidence amongst the analysts and the investors. In Mumbai the property rates have accelerated and it is not far behind the rates which were witnessed during the boom period. Mumbai has seen a constant price in the property prices since mid 2009 due to the strengthe ning of the economy. Source: CBRE report 2009 By 2030 India will need up to 10 million new housing units per year. Rapid population growth, rising incomes, decreasing household sizes and a housing shortage of currently 20 million units will call for extensive residential construction. The financing of owner-occupied housing in particular holds out enormous market potential. (Deutsche Bank Report May 8, 2006). Population in India: India is the 2nd most populated country in the world at present after China. However, as per the numbers projected in a United Nations Report states that the Indian population would be more than the Chinese population by 2050. (Population of India is also set to take over China by 2050 as per the UN report.) 1.0 MUMBAI – OVERVIEW: Mumbai, the capital city of the state of Maharashtra, is the one of the largest metropolis in India. Known as the financial capital of the country, the city contributes almost 5% of India’s GDP. It is a multi-functional city with a vast array of economic opportunities, which has resulted in attracting a large migratory population from all over. The city sports a highly cosmopolitan environment with an intricate urban structure. Mumbai has long been home to several large multinational companies and is invariably the first choice for a new organization entering India. Demographic Pattern: Greater Mumbai accounts for 13% of Maharashtra’s population and 1.2% of India’s population[1]. The rate of growth of population has gone down but has been higher than the growth rate of Maharashtra. Source: Census of India Over 1901-71 period, the population in the island city was steadily increasing and was more than that of the suburbs. However, during the last 3 decades the population growth in the island city has been negligible whereas that in the suburbs is increasing at a rapid rate. Among the suburbs, the western suburbs (ward H, K, P and R) are more densely populated than the Eastern suburbs (ward L, M, N, S and T). The following graph indicates the projected population growth in Greater Mumbai. The above graph further illustrates that the population of Mumbai is set of increase manifoldly, as against the other Metros of the country. 2.0 MUMBAI REAL ESTATE MARKET OVERVIEW: The island city of Mumbai is the commercial capital and economic growth engine of India. Originally composed of seven small islands, land reclamation and infill carried out during the 18th and 19th century integrated these islands into a continuous peninsula (Deshpande and Arunachalam,1981). Beginning as a seaport on the west coast of the Indian peninsula, Mumbai has steadily diversified its economic base to include value-added manufacturing and financial services. The country’s central bank, the Reserve Bank of India and two of India’s largest stock exchanges, the Bombay Stock Exchange and the National Stock Exchange are all located here. Mumbai accounts for one-tenth of factory employment and value-added manufacturing, while the port handles more than one-third of the total value of foreign trade (Deshpande, 1996), making the Brihan Mumbai Municipal Corporation one of the richest, with a budget of more than USD 1.2 billion (Mohan, 2003), exceeding the budget of nine S tates and Union Territories of India. This economic growth is sustained by and in turn, drives the steady influx of migrants from rural and regional centres of the country. Consequently, the Mumbai Metropolitan Region (MMR) is one of the fastest growing regions of India. Its population increased from 7.7 million in 1971 to 18.3 million in 2001 (Census of India, 2001) and is projected to increase to 22.4 million by 2011(MMRDA, 1999). (Journal on HOUSING TENURE FOR THE URBAN POOR: A CASE STUDY OF MUMBAI CITY by Gaurang Desai and Madhura Yadav). Mumbai has gained immense prominence as one of the growing corporate and IT destinations in India. The Mumbai real estate scenario has been reflective of the burgeoning real estate sector of the country. The city has a mature and demand-led market driven by end users. Investors and HNIs have also been actively investing in various pre-leased properties with insurance, banking, IT/ITES, residential and retail sector occupants. Overall, there has been an increase in demand as well as supply and an appreciation in the real estate values across various micro markets in the city. Economy of Mumbai: The per capita income of the city is Rs 66,360 which is three times higher than the national income. It contributes 1/3 rd of the total income tax collection of the country. It contributes nearly 60 % of the total income generated from custom duty of the country. 40 % of India’s foreign trade. Corporate tax collection of the city is Rs 40 billion. 20 % of the total excise duty collection of the country. Mumbai Metropolitan region generates 5 % of the total GDP of the country. The island city of Mumbai is the economic growth engine and commercial capital of India. A combination of in-migration combined with a severe land shortage has resulted in Mumbai having one of the most expensive real estate in the world. As a result the city faces housing crisis with an estimated 60% of its total population living in slums, adopting multiple informal housing tenures. Property Index of Mumbai: Database:This index is based on minimum database size of 20,000 data points every month and the analysis has been drawn over a period starting Jan’09. The prices of properties are obtained across micro-markets through property listings on the website as well as based on nationwide sales force. Index Algorithm:The complex algorithm takes into account the property prices as base and then factors in the demand and supply of residential properties for each of the cities covered by it. Care has been taken to give weight age to cities in line with the size of underlying property market. (Makaan.com) The Real-Estate market of Mumbai can be divided into three types- Commercial Residential Retail Mall 4.1 Commercial Real Estate Market: Mumbai’s commercial market is divided into its traditional business districts and the recently developed business addresses. The Central Business District (CBD) of the city is located in South Mumbai and comprises of: Nariman Point – Often said to be the ‘Manhattan of India’, Nariman Point has traditionally been the most attractive location for international companies, in particular international investment banks, insurance companies and consulting firms. The areas concentrated within a radius of 1.5-2 km around the CBD are termed as the off-CBD locations, which include: Churchgate /Fort/ Fountain – This district has traditionally housed the city’s Business and Government establishments. It also houses numerous National and International Banks. Cuffe Parade – Primarily an up market residential area with a host of high-rise buildings. Some notable commercial buildings like the World Trade Centre and Maker Towers are located here. Ballard Estate – A prime commercial area where the buildings have European Renaissance architecture. The off-CBD business centres of the city have expanded to include a number of areas mostly oriented towards central Mumbai: Lower Parel: This industrial belt of Mumbai is transforming itself into a commercial hub of the city. This area is being developed on what used to be the textile mills. With mill land being freed for commercial, retail and residential development, the Lower Parel area will see massive supply of space. Currently, there are a number of retail, entertainment and advertising companies located in Lower Parel. High Street at Phoenix Mills is the most prominent retail development in this region. Worli-Prabhadevi: The Worli–Prabhadevi area has been a conventional stronghold of number of corporate offices. Besides, there is also the presence of two malls – Crossroads and Atria, in the stretch. The ongoing Bandra-Worli sea link is expected to give a further fillip to this area. The Suburban Business Districts (SBDs) of the city comprise of the following locations: (Image of the Bandra Kurla Complex) The Bandra-Kurla belt: The Bandra-Kurla Complex (BKC), which has been developed as an alternative business district to the CBD, has attracted a number of corporate. ICICI, National Stock Exchange, Wockhardt and ILFS are some of the important corporate located here. The Andheri-Kurla Belt: This area is also an upcoming location of choice for IT/ITES companies, banks, insurance companies, etc. Some of the sought after Grade ‘A’ buildings in this belt are ‘Technopolis’ and ‘Solitaire Corporate Park’ where a number of corporate are relocating. The Malad-Goregaon Belt: The Malad Goregoan belt has become the preferred destination for IT/ITES companies due to the availability of large floor plates at competitive rentals. The superior quality of buildings offered at MindSpace is another motivating factor for technology companies looking for world-class amenities to come here. The Powai Belt: Another suburb, the Powai belt is scoring well on the IT/ITeS front. The pricing in rental terms is similar for Powai and Malad. There will be 600 new shopping centres by 2010. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%. (Deutsche Bank Research 6 may,2006) The Peripheral Business District (PBD) of the city consists of: Navi Mumbai: Navi Mumbai is being developed as a counter magnet to Mumbai, with the basic objective of curbing further congestion in the city. The potential target audience, apart from the existing residents, arises from the 40,000+ IT/ITES industry workforce travelling to Navi Mumbai daily. Consequently, the government has undertaken a number of initiatives to promote further development of IT ITES sector in Maharashtra state. These include formulation of a progressive sector-specific policy, development of IT parks and development of the â€Å"Knowledge Corridor† between Navi Mumbai and Pune. Sector 17 of Vashi and CBD Belapur were developed as the prime commercial areas for Navi Mumbai. A number of corporate have moved to Navi Mumbai, the largest amongst them being Reliance Industries. Millennium Business Park at Mahape and Airoli Knowledge Park at Airoli, developed by MIDC houses several IT/ITES companies like Aptech, CMS computers, Datamatics, Mastek, TCS, Patni etc 4.2 Residential Market Scenario: Residential real estate in Mumbai is today amongst the most expensive in the country. The key residential areas in the city are as follows: The south and central locations of the city like Colaba, Napean Sea Road, Worli, Breach Candy and Pedder Road are the most preferred locations for leased accommodation for the senior and expatriate staff. Amongst the key suburban locations, Bandra and Malad in the northwest and Powai in the northeast are equally preferred due to proximity from the emerging commercial/office locations. Other suburban residential micro-markets of Andheri, Goregaon and Mulund also fall in the preferred category. In fact, these areas are witnessing fresh construction activity with projects from prominent residential developers like K.Raheja, Oberoi Constructions, Royal Palms and the Runwal Group. Luxury housing projects, which have been traditionally concentrated in South and selective Central Mumbai locations, are now being planned in the suburban regions like Malad as well as peripheral districts. Currently, a number of IT/ITES companies have located there. The Central Mumbai belt consists of areas such as Mahalaxmi, Lower Parel, Worli, Parel,Byculla, Chinchpokli, Sewri, Wadala, Dadar, Matunga and Mahim. The micro markets of Worli are currently established markets and command a premium over other central Mumbai pockets. The current ongoing rates in Worli vary between Rs. 25,000-30,000 per sq. ft. Lower Parel is fast emerging as a residential and commercial destination, with additional supplies expected from the mill lands. 4.3 Mumbai Mill Lands: (Image of an old Mill in Mumbai) Bombay had first developed as an industrial city through the growth and expansion of the cotton textile industry from the late nineteenth century to the nineteen forties. Now known as the Mill Lands, the textile industry was located in the central districts of the Island City. After World War II and Independence, to the fifties, sixties and seventies, the industrial base of the urban economy diversified into petroleum and chemical production, and then into petrochemicals, pharmaceuticals, consumer goods and engineering industries. These new industries were mostly located on the eastern fringe of the Island City, in the Eastern suburbs, and in the seventies and eighties expanded to Thane and its surrounding district, as well as the Thane-Belapur belt flanking Navi Mumbai. Till the late seventies, the Cotton Textile Mills were booming with activity but in 1982 things changed. The unorganized Powerloom sector had taken over and it was becoming uneconomical to maintain large-scale industrial units within the city limits on account of high power and Octroi costs. Moreover, the 18-month long crippling strike by the mill workers proved to be the final nail in the coffin. All this led to huge losses and the running of the Cotton Textile Mills became unviable. Several mills were declared sick and a few even shut down their operations. Only a few managed to survive. The total area occupied by all the mills put together is approximately 605 acres (2,446,278.39 sq. mt.) There are three categories of ownership of the mills, namely, National Textile Mills (NTC), Maharashtra State Textile Corporation and Private Owners: 4.4 Mumbai Port Trust Land: The proposed release of Mumbai Port Trust (MbTP) land could change the face of the eastern waterfront in Mumbai. MbPT has about 40 acres of surplus land of which a substantial portion is on the environmentally sensitive eastern waterfront (areas such as Sewri, Wadala). Large tracts of MbPT land had been leased out to private companies, several of whom have shifted their facilities to other areas, but continue to maintain a token presence on the leased land. With the construction of Trans- Harbour Link and the Special Economic Zone at Dronagiri this land is expected to turn out into a virtual goldmine. The MbPT policy for commercial utilization of this land has been awaited for several months since the new board of trustees were not constituted. Now with 17 of the 21 trustees in place, the process of formulating the policy has been set in motion. The subcommittee is expected to unveil a plan of action when MbPT board meets on August 9. Besides the above, there are some Port Trust plot that are being released in the market. These include a 28.39 hectare (approx. 70 acres) plot at Titwala, vacant lands in isolated pockets totalling to 5.17 hectare (approx. 14.5 acres) and a slum-encroached plot measuring 6.77 hectare (approx. 17 acres) on the eastern waterfront. Floor Space Index (FSI): FSI stands for Floor Space Index. Municipalities and Government’s allow only a certain amount of FSI. Otherwise there are possibilities of sky scrapers been constructed in narrow spaces that would be leading to parking and various other problems like the one existing in downtown Manhattan. In Mumbai, FSI was first introduced in 1964 and the value than was 4.5 times. Over the years there were several changes made to the rule which depends broadly on the leading Municipal Corporation and the State Government. With an average of 2.9 m2 per person, the consumption of residential floor space in Mumbai is one of the lowest in the world. More than 50% of the city’s population lives in slums. This type of record would be expected from a city in a desperate economic situation. However, this is not the case. Mumbai is a prosperous city with an expanding economy. (Mumbai FSI conundrum: The perfect storm: the four factors restricting the construction of new floor space in Mumbai – By Alain Bertaud 2004). The very low consumption of floor space coupled with very high real estate prices would suggest that a number of supply bottlenecks might be responsible. By comparing Mumbai to other metropolis in Asia it appears that indeed 4 factors are exceptional and contribute to the very low supply of floor space: An exceptional topography that reduces the amount of developable land; A draconian and ill-conceived land use policy restricting the area of floor space which can be built on the little land available. Muddled property rights preventing households and firms to freely trade land and floor space as a commodity; A failure to develop major primary infrastructure networks, which prevents the city to overcome its topographical constraint. In turn, the weakness of the infrastructure network is used to justify the restrictive land use policy. (Alain Bertaud July 15th 2004). Comparing Mumbai to other similar sized Asian cities, (Bertaud 2004) found that within a radius of 25 km from the city centre, sea and water bodies occupy 66% of the total area for Mumbai while it was 22% in the case of Jakarta and 5% for Seoul. Cities with such extreme topography often compensate for the lack of land by allowing the height of buildings to be increased. In the case of Mumbai however, this is not the case. While the Floor Space Index (FSI) in most large cities varies from 5 to 15 in the Central Business District (CBD) to about 0.5 in the suburbs, in Mumbai the FSI remains uniformly fixed at 1.33 for the Island City and 1.00 in the suburbs (Alain Bertaud, 2004). (The above map shows the different FSI values in the city.) Transfer of Development Rights (TDR): A cartelisation of Mumbais real estate, one of the costliest in the world, in the matter of transferable development rights has put upward pressure on prices and has also caused concern in policy circles. In case of Mumbai, TDRs were used initially to compensate plot owners whose development right was restricted due to some public programmes like widening of roads etc. Later this was used for compensating owners of Heritage buildings who could not develop their lands. More recently they have been used in case of Slum Redevelopments where additional development rights could not be consumed on a plot due to over density reasons. There are also talks about using TDR for redevelopment of old buildings. Another detail about TDR is that it can be only used in the same or northern ward of the generating plot Hence you could see sudden additions to suburban buildings that have high property value.However, it also led to haphazard and unplanned development in the suburbs. There was an increased the pressure on suburban infrastructure. In a recent development, just six-odd builders and developers hold 70 per cent of the 2.5-3 million sq ft TDR available. The price of TDR has also surged to Rs 2,500-Rs 3,000 per sq ft from Rs 800-1,000 sq ft in the past six months. Realty sector experts in Mumbai cartel had meant a rise in TDR prices practically every month. The development is a sequel to a 2008 order of the High Court here, which stayed a state government decision to allow 33 per cent extra building rights (measured as more of Floor Space Index, or FSI, the ratio of what can be erected on a plot of land to its area) in return for more premium. Nainesh Shah, executive director of Everest Developers, argued that TDR rates can be brought down only by an increase in the stock of land and the government are the only entities that can make this happen. More land needs to be released, Ashutosh Limaye, associate director, strategic consulting, Jones Lang LaSalle Meghraj, saidâ€Å"TDR trading follows the open market principle. For areas that are popular and in demand for real estate development (Bandra, Chembur, Vile Parle, etc), land prices is high and it makes sense to buy TDR even at a higher rate†. However, A Vile Parle-based activist and former builder, Bhagwanji Raiyani, filed a Public Interest Litigation in the Bombay High Court asking for a total ban on TDR, following which the court in an interim order banned the use of TDR along the Eastern and Western Express Highways and the Eastern and Western suburban railway tracks. In the recent times, the government is considering a proposal to increase floor space index (FSI) in the suburbs to two without taking the transfer of development rights (TDR) route. Under this, for example, a builder involved a slum project in Trombay gets the nod to transfer development rights to the north of the rehabilitation site. Because of this policy, the suburbs are witnessing the construction of tall towers, which use TDR. There has been a 100% rise in property prices in Mumbai, Thane and other places, primarily because of the high cost of TDR. If a builder buys TDR at Rs 4,500 per sq ft, he will have to add another Rs 4,500 per sq ft towards the cost of land and construction. This forces him to sell flats at Rs 10,000 per sq ft even in a distant suburb like Mulund, which is an absurd rate. No wonder there is tremendous consumer resistance. Around 50% of the flats remain unsold because the prices are beyond an average buyer’s reach,’’ (Subhash Runwal, former office-bearer of the Maharashtra Chamber of Housing Industry, reported in Times Of India). The demand for FSI is 10 crore sq ft per annum in the suburbs. If the government sells this at even Rs 2,500 crore, it can generate a whopping Rs 25,000 crore annually. Half of this revenue can be used for improving infrastructure in the suburbs and the rest for development work in the rest of the state†. The Golden Question: How to design new FSI and TDR values for Mumbai? Design a spatial land use strategy based on current land values and future investments in transport (bridges, highways, metro, BRT). Identify high accessibility nodes. Divide the existing and future built-up areas into land use zones based on accessibility and on existing character of the area; Identify and map the historical areas and natural areas that need to be protected, those that should not be redeveloped, and where the new FSI will not be applied; Design regulations (FSI, % lot coverage, setbacks, etc) for each zone. Comprehensive plan ready and approved for the entire city No more TDRs are issued during preparation of plan, however, already issued but not yet used TDRs are honored. Progressive transition: New FSI plan prepared and approved for 2 or 3 main streets and high intensity areas around new metro stations and bridge access. New TDRs can be issued but they have to be used in the areas already mapped for FSI increase. Meanwhile the comprehensive strategy is prepared and approved. More areas for FSI increase are prepared every year and where TDRs can be used. After 2 or 3 years new TDRs are issued only for slum redevelopment and for historical area protection. The above is just a model example of how the increase in FSI would solve the Real Estate problems in Mumbai. If the Government adopt the path which has been used in downtown Manhattan than it would reduce Real Estate prices in the city, help to relocated millions of people, abolish the TDR practice and the additional space could be used to improve the lagging infrastructure of the city. 4.5 Mumbai Salt Pan Land http://infochangeindia.org/Agenda/Coastal-communities/Saltpan-city.html The proposal to use saltpan lands first emerged in 2002 when the Maharashtra Housing and Area Development Authority (MHADA) warned that it was running out of land and asked the state to release land belonging to various departments like defence, the Bombay Port Trust, and saltpan lands. In 2006, the then Union Minister for Commerce and Industries Kamal Nath and Ex Maharashtra Chief Minister Vilasrao Deshmukh worked out a formula of developing saltpan lands on a no-profit-no-loss basis. The scheme proposed allowing private developers extra FSI for commercial purposes after setting aside 225 sq ft houses to accommodate slum-dwellers. In 2007, a committee of u Emerging Real Estate Market in Mumbai Emerging Real Estate Market in Mumbai Introduction: India has firmed up its place in the world business space prompting global business houses to sit up and take a fresh view on India as a business and investment destination. In the last two years, Indian economy has grown well despite nature’s fury or other global adverse events. India is fast establishing itself as an alternative to China in a variety of sectors, particularly IT-ITES, manufacturing, and real estate. The most spectacular resurgence has been that of the real estate sector, which is back in business with a bang. New projects, superior quality product, new growth corridors, increased infrastructure spending, falling cost of finance and interest, and growing capacity of common man in the key reasons behind the steady growth in real estate market. With stock market being highly volatile, investment in real estate has begun to look attractive and competitive with typical yields of 10-12% per annum are achievable, even though specific return is always linked to property specific factors, dynamics of real estate market and the overall economic performance. Real estate is fast turning out to be a compulsive investment bet as compared to other investment vehicles such as capital and debt markets, bullion market etc. It attracts investors by offering a possibility of stable income yields, moderate capital appreciation, tax structuring benefits and higher security being tangible asset. With these prime factors there are several micro factors responsible for the returns on investment and those are location of the property in macro and micro context, the usage of property, the quality of tenant, the capital value and achievable rental, the prevailing structures of property tax and stamp duty. The study includes the macro economic factors that make India a favourable investment destination. The purpose of the study is to give a comprehensive overview of the emerging Real Estate market of Mumbai. Today’s market is at a stage of ambiguity so a detailed study is required in this respect. In the final report detailed analysis will be carried out by fragmenting the market into Residential, Commercial and Retail space. An overview of each of these markets is included in the current report. The study will also include what are the various financing options in the emerging markets currently. A detailed survey will be carried out for the final report based on a questionnaire and will be send out to the various players ( Private Equity funds, Domestic Financial institutions, Local Real Estate Developers and Property Consultants to assess the various options available for Fund raising. Currently an introduction is also included on the same. Characteristics of the Real Estate Market in India: With reference to the availability of infrastructure facilities, following cities are currently attracting MNCs/corporate/real estate developers: Tier I cities, Mumbai (Commercial hub), Delhi (Political hub) and Bangalore (Technological hub): Preferred option for many new market entrants Command the highest international profiles and significant proportion of FDI Offer qualified labour pool and the best infrastructure facilities Exhibit development of sub-urban commercial real estate Yield of 9.5 – 10% (Real Estate Sector – The India Story Submitted by Miss Sonia Sahni Asst Manager Corporate and Investment Banking, ABN AMRO Bank, Nariman Point, Mumbai) 2.0 Macro-Economic Factors India: Background of the Economy of India during 2008 and early 2009: Last year 2008 was quiet a setback for the real-estate sector in India after the boom of the previous three years where the property market registered a return of more than 30-40% every year. The sector had faced a down trend where the property prices corrected by over 30%. This was due to the sub-prime crisis in the United States and also the correcting Capital Markets and bankruptcy of the MNC’s and the Banks. This resulted in loss of liquidity and hence a fall in demand. In August 2008 the inflation reached as high as 13% which forced a knee jerk reaction from the RBI (Reserve Bank of India) to cut the cash reserve ratio, the repo and the reverse repo rate which warranted the Banks to lend less and as a result of the further shortage in liquidity the real-estate market took a plunge. However, the economy has recovered by leaps and bounce and which is reflected by the chart below: Sam Mahtani, emerging equities manager at FC, is confident on Indias economic prospects. Over the next 10 years, UBS estimates economic activity in India will increase by around 8.5% a year, a rate comparable with China and beyond the global average. We think that this growth rate could be achievable if Indian policymakers start to undertake structural reforms in the economy. Over the next five years, the government is committing an estimated US$500 billion to road, rail, port and other vitally needed upgrades. If the right legislation is put in place and managed effectively, this could represent the springboard for long-term economic growth rates in excess of Chinas†, he believes. GDP of India: The chart shows that the GDP growth rate of India and China are far ahead than any other country in the world. This shows that the standard of living in the country is high. GDP reflects the total income, the total output and the total expenditure of the country. The economy of the country is the twelfth largest in the world as per the recent market exchange rate and it is ranked number four as per purchasing power parity. It is the 2nd fastest growing economy in the world. The service sector of India contributes more than 50% to the GDP and real-Estate sector is the third largest among it. Mumbai is the sole largest contributor to the national GDP and the economics of Mumbai further supports the fact. The above figure shows the long term growth rate of GDP of India against the Developed counties of the World. Economy of India (mid 2009) and its impact on Real Estate: However the economic condition of the country has improved in the last year. This was a great precedent for the Real-estate sector in India and especially Mumbai. It has always been witnessed during recession that the financial cities of the world take the hardest hit but on the other hand recovery is quickly as well. The inflation rate in India is 0.30% on 1st December 2009. The CRR is 5% and repo rate is 4.75% and reverse repo rate 3.25% which is commendable and which has increased liquidity in the market and as a result of this the property prices have gone up in the country. The stock market has recovered exceedingly well and it had an almost 50% rise than the last year’s index. This has further increased the confidence amongst the analysts and the investors. In Mumbai the property rates have accelerated and it is not far behind the rates which were witnessed during the boom period. Mumbai has seen a constant price in the property prices since mid 2009 due to the strengthe ning of the economy. Source: CBRE report 2009 By 2030 India will need up to 10 million new housing units per year. Rapid population growth, rising incomes, decreasing household sizes and a housing shortage of currently 20 million units will call for extensive residential construction. The financing of owner-occupied housing in particular holds out enormous market potential. (Deutsche Bank Report May 8, 2006). Population in India: India is the 2nd most populated country in the world at present after China. However, as per the numbers projected in a United Nations Report states that the Indian population would be more than the Chinese population by 2050. (Population of India is also set to take over China by 2050 as per the UN report.) 1.0 MUMBAI – OVERVIEW: Mumbai, the capital city of the state of Maharashtra, is the one of the largest metropolis in India. Known as the financial capital of the country, the city contributes almost 5% of India’s GDP. It is a multi-functional city with a vast array of economic opportunities, which has resulted in attracting a large migratory population from all over. The city sports a highly cosmopolitan environment with an intricate urban structure. Mumbai has long been home to several large multinational companies and is invariably the first choice for a new organization entering India. Demographic Pattern: Greater Mumbai accounts for 13% of Maharashtra’s population and 1.2% of India’s population[1]. The rate of growth of population has gone down but has been higher than the growth rate of Maharashtra. Source: Census of India Over 1901-71 period, the population in the island city was steadily increasing and was more than that of the suburbs. However, during the last 3 decades the population growth in the island city has been negligible whereas that in the suburbs is increasing at a rapid rate. Among the suburbs, the western suburbs (ward H, K, P and R) are more densely populated than the Eastern suburbs (ward L, M, N, S and T). The following graph indicates the projected population growth in Greater Mumbai. The above graph further illustrates that the population of Mumbai is set of increase manifoldly, as against the other Metros of the country. 2.0 MUMBAI REAL ESTATE MARKET OVERVIEW: The island city of Mumbai is the commercial capital and economic growth engine of India. Originally composed of seven small islands, land reclamation and infill carried out during the 18th and 19th century integrated these islands into a continuous peninsula (Deshpande and Arunachalam,1981). Beginning as a seaport on the west coast of the Indian peninsula, Mumbai has steadily diversified its economic base to include value-added manufacturing and financial services. The country’s central bank, the Reserve Bank of India and two of India’s largest stock exchanges, the Bombay Stock Exchange and the National Stock Exchange are all located here. Mumbai accounts for one-tenth of factory employment and value-added manufacturing, while the port handles more than one-third of the total value of foreign trade (Deshpande, 1996), making the Brihan Mumbai Municipal Corporation one of the richest, with a budget of more than USD 1.2 billion (Mohan, 2003), exceeding the budget of nine S tates and Union Territories of India. This economic growth is sustained by and in turn, drives the steady influx of migrants from rural and regional centres of the country. Consequently, the Mumbai Metropolitan Region (MMR) is one of the fastest growing regions of India. Its population increased from 7.7 million in 1971 to 18.3 million in 2001 (Census of India, 2001) and is projected to increase to 22.4 million by 2011(MMRDA, 1999). (Journal on HOUSING TENURE FOR THE URBAN POOR: A CASE STUDY OF MUMBAI CITY by Gaurang Desai and Madhura Yadav). Mumbai has gained immense prominence as one of the growing corporate and IT destinations in India. The Mumbai real estate scenario has been reflective of the burgeoning real estate sector of the country. The city has a mature and demand-led market driven by end users. Investors and HNIs have also been actively investing in various pre-leased properties with insurance, banking, IT/ITES, residential and retail sector occupants. Overall, there has been an increase in demand as well as supply and an appreciation in the real estate values across various micro markets in the city. Economy of Mumbai: The per capita income of the city is Rs 66,360 which is three times higher than the national income. It contributes 1/3 rd of the total income tax collection of the country. It contributes nearly 60 % of the total income generated from custom duty of the country. 40 % of India’s foreign trade. Corporate tax collection of the city is Rs 40 billion. 20 % of the total excise duty collection of the country. Mumbai Metropolitan region generates 5 % of the total GDP of the country. The island city of Mumbai is the economic growth engine and commercial capital of India. A combination of in-migration combined with a severe land shortage has resulted in Mumbai having one of the most expensive real estate in the world. As a result the city faces housing crisis with an estimated 60% of its total population living in slums, adopting multiple informal housing tenures. Property Index of Mumbai: Database:This index is based on minimum database size of 20,000 data points every month and the analysis has been drawn over a period starting Jan’09. The prices of properties are obtained across micro-markets through property listings on the website as well as based on nationwide sales force. Index Algorithm:The complex algorithm takes into account the property prices as base and then factors in the demand and supply of residential properties for each of the cities covered by it. Care has been taken to give weight age to cities in line with the size of underlying property market. (Makaan.com) The Real-Estate market of Mumbai can be divided into three types- Commercial Residential Retail Mall 4.1 Commercial Real Estate Market: Mumbai’s commercial market is divided into its traditional business districts and the recently developed business addresses. The Central Business District (CBD) of the city is located in South Mumbai and comprises of: Nariman Point – Often said to be the ‘Manhattan of India’, Nariman Point has traditionally been the most attractive location for international companies, in particular international investment banks, insurance companies and consulting firms. The areas concentrated within a radius of 1.5-2 km around the CBD are termed as the off-CBD locations, which include: Churchgate /Fort/ Fountain – This district has traditionally housed the city’s Business and Government establishments. It also houses numerous National and International Banks. Cuffe Parade – Primarily an up market residential area with a host of high-rise buildings. Some notable commercial buildings like the World Trade Centre and Maker Towers are located here. Ballard Estate – A prime commercial area where the buildings have European Renaissance architecture. The off-CBD business centres of the city have expanded to include a number of areas mostly oriented towards central Mumbai: Lower Parel: This industrial belt of Mumbai is transforming itself into a commercial hub of the city. This area is being developed on what used to be the textile mills. With mill land being freed for commercial, retail and residential development, the Lower Parel area will see massive supply of space. Currently, there are a number of retail, entertainment and advertising companies located in Lower Parel. High Street at Phoenix Mills is the most prominent retail development in this region. Worli-Prabhadevi: The Worli–Prabhadevi area has been a conventional stronghold of number of corporate offices. Besides, there is also the presence of two malls – Crossroads and Atria, in the stretch. The ongoing Bandra-Worli sea link is expected to give a further fillip to this area. The Suburban Business Districts (SBDs) of the city comprise of the following locations: (Image of the Bandra Kurla Complex) The Bandra-Kurla belt: The Bandra-Kurla Complex (BKC), which has been developed as an alternative business district to the CBD, has attracted a number of corporate. ICICI, National Stock Exchange, Wockhardt and ILFS are some of the important corporate located here. The Andheri-Kurla Belt: This area is also an upcoming location of choice for IT/ITES companies, banks, insurance companies, etc. Some of the sought after Grade ‘A’ buildings in this belt are ‘Technopolis’ and ‘Solitaire Corporate Park’ where a number of corporate are relocating. The Malad-Goregaon Belt: The Malad Goregoan belt has become the preferred destination for IT/ITES companies due to the availability of large floor plates at competitive rentals. The superior quality of buildings offered at MindSpace is another motivating factor for technology companies looking for world-class amenities to come here. The Powai Belt: Another suburb, the Powai belt is scoring well on the IT/ITeS front. The pricing in rental terms is similar for Powai and Malad. There will be 600 new shopping centres by 2010. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%. (Deutsche Bank Research 6 may,2006) The Peripheral Business District (PBD) of the city consists of: Navi Mumbai: Navi Mumbai is being developed as a counter magnet to Mumbai, with the basic objective of curbing further congestion in the city. The potential target audience, apart from the existing residents, arises from the 40,000+ IT/ITES industry workforce travelling to Navi Mumbai daily. Consequently, the government has undertaken a number of initiatives to promote further development of IT ITES sector in Maharashtra state. These include formulation of a progressive sector-specific policy, development of IT parks and development of the â€Å"Knowledge Corridor† between Navi Mumbai and Pune. Sector 17 of Vashi and CBD Belapur were developed as the prime commercial areas for Navi Mumbai. A number of corporate have moved to Navi Mumbai, the largest amongst them being Reliance Industries. Millennium Business Park at Mahape and Airoli Knowledge Park at Airoli, developed by MIDC houses several IT/ITES companies like Aptech, CMS computers, Datamatics, Mastek, TCS, Patni etc 4.2 Residential Market Scenario: Residential real estate in Mumbai is today amongst the most expensive in the country. The key residential areas in the city are as follows: The south and central locations of the city like Colaba, Napean Sea Road, Worli, Breach Candy and Pedder Road are the most preferred locations for leased accommodation for the senior and expatriate staff. Amongst the key suburban locations, Bandra and Malad in the northwest and Powai in the northeast are equally preferred due to proximity from the emerging commercial/office locations. Other suburban residential micro-markets of Andheri, Goregaon and Mulund also fall in the preferred category. In fact, these areas are witnessing fresh construction activity with projects from prominent residential developers like K.Raheja, Oberoi Constructions, Royal Palms and the Runwal Group. Luxury housing projects, which have been traditionally concentrated in South and selective Central Mumbai locations, are now being planned in the suburban regions like Malad as well as peripheral districts. Currently, a number of IT/ITES companies have located there. The Central Mumbai belt consists of areas such as Mahalaxmi, Lower Parel, Worli, Parel,Byculla, Chinchpokli, Sewri, Wadala, Dadar, Matunga and Mahim. The micro markets of Worli are currently established markets and command a premium over other central Mumbai pockets. The current ongoing rates in Worli vary between Rs. 25,000-30,000 per sq. ft. Lower Parel is fast emerging as a residential and commercial destination, with additional supplies expected from the mill lands. 4.3 Mumbai Mill Lands: (Image of an old Mill in Mumbai) Bombay had first developed as an industrial city through the growth and expansion of the cotton textile industry from the late nineteenth century to the nineteen forties. Now known as the Mill Lands, the textile industry was located in the central districts of the Island City. After World War II and Independence, to the fifties, sixties and seventies, the industrial base of the urban economy diversified into petroleum and chemical production, and then into petrochemicals, pharmaceuticals, consumer goods and engineering industries. These new industries were mostly located on the eastern fringe of the Island City, in the Eastern suburbs, and in the seventies and eighties expanded to Thane and its surrounding district, as well as the Thane-Belapur belt flanking Navi Mumbai. Till the late seventies, the Cotton Textile Mills were booming with activity but in 1982 things changed. The unorganized Powerloom sector had taken over and it was becoming uneconomical to maintain large-scale industrial units within the city limits on account of high power and Octroi costs. Moreover, the 18-month long crippling strike by the mill workers proved to be the final nail in the coffin. All this led to huge losses and the running of the Cotton Textile Mills became unviable. Several mills were declared sick and a few even shut down their operations. Only a few managed to survive. The total area occupied by all the mills put together is approximately 605 acres (2,446,278.39 sq. mt.) There are three categories of ownership of the mills, namely, National Textile Mills (NTC), Maharashtra State Textile Corporation and Private Owners: 4.4 Mumbai Port Trust Land: The proposed release of Mumbai Port Trust (MbTP) land could change the face of the eastern waterfront in Mumbai. MbPT has about 40 acres of surplus land of which a substantial portion is on the environmentally sensitive eastern waterfront (areas such as Sewri, Wadala). Large tracts of MbPT land had been leased out to private companies, several of whom have shifted their facilities to other areas, but continue to maintain a token presence on the leased land. With the construction of Trans- Harbour Link and the Special Economic Zone at Dronagiri this land is expected to turn out into a virtual goldmine. The MbPT policy for commercial utilization of this land has been awaited for several months since the new board of trustees were not constituted. Now with 17 of the 21 trustees in place, the process of formulating the policy has been set in motion. The subcommittee is expected to unveil a plan of action when MbPT board meets on August 9. Besides the above, there are some Port Trust plot that are being released in the market. These include a 28.39 hectare (approx. 70 acres) plot at Titwala, vacant lands in isolated pockets totalling to 5.17 hectare (approx. 14.5 acres) and a slum-encroached plot measuring 6.77 hectare (approx. 17 acres) on the eastern waterfront. Floor Space Index (FSI): FSI stands for Floor Space Index. Municipalities and Government’s allow only a certain amount of FSI. Otherwise there are possibilities of sky scrapers been constructed in narrow spaces that would be leading to parking and various other problems like the one existing in downtown Manhattan. In Mumbai, FSI was first introduced in 1964 and the value than was 4.5 times. Over the years there were several changes made to the rule which depends broadly on the leading Municipal Corporation and the State Government. With an average of 2.9 m2 per person, the consumption of residential floor space in Mumbai is one of the lowest in the world. More than 50% of the city’s population lives in slums. This type of record would be expected from a city in a desperate economic situation. However, this is not the case. Mumbai is a prosperous city with an expanding economy. (Mumbai FSI conundrum: The perfect storm: the four factors restricting the construction of new floor space in Mumbai – By Alain Bertaud 2004). The very low consumption of floor space coupled with very high real estate prices would suggest that a number of supply bottlenecks might be responsible. By comparing Mumbai to other metropolis in Asia it appears that indeed 4 factors are exceptional and contribute to the very low supply of floor space: An exceptional topography that reduces the amount of developable land; A draconian and ill-conceived land use policy restricting the area of floor space which can be built on the little land available. Muddled property rights preventing households and firms to freely trade land and floor space as a commodity; A failure to develop major primary infrastructure networks, which prevents the city to overcome its topographical constraint. In turn, the weakness of the infrastructure network is used to justify the restrictive land use policy. (Alain Bertaud July 15th 2004). Comparing Mumbai to other similar sized Asian cities, (Bertaud 2004) found that within a radius of 25 km from the city centre, sea and water bodies occupy 66% of the total area for Mumbai while it was 22% in the case of Jakarta and 5% for Seoul. Cities with such extreme topography often compensate for the lack of land by allowing the height of buildings to be increased. In the case of Mumbai however, this is not the case. While the Floor Space Index (FSI) in most large cities varies from 5 to 15 in the Central Business District (CBD) to about 0.5 in the suburbs, in Mumbai the FSI remains uniformly fixed at 1.33 for the Island City and 1.00 in the suburbs (Alain Bertaud, 2004). (The above map shows the different FSI values in the city.) Transfer of Development Rights (TDR): A cartelisation of Mumbais real estate, one of the costliest in the world, in the matter of transferable development rights has put upward pressure on prices and has also caused concern in policy circles. In case of Mumbai, TDRs were used initially to compensate plot owners whose development right was restricted due to some public programmes like widening of roads etc. Later this was used for compensating owners of Heritage buildings who could not develop their lands. More recently they have been used in case of Slum Redevelopments where additional development rights could not be consumed on a plot due to over density reasons. There are also talks about using TDR for redevelopment of old buildings. Another detail about TDR is that it can be only used in the same or northern ward of the generating plot Hence you could see sudden additions to suburban buildings that have high property value.However, it also led to haphazard and unplanned development in the suburbs. There was an increased the pressure on suburban infrastructure. In a recent development, just six-odd builders and developers hold 70 per cent of the 2.5-3 million sq ft TDR available. The price of TDR has also surged to Rs 2,500-Rs 3,000 per sq ft from Rs 800-1,000 sq ft in the past six months. Realty sector experts in Mumbai cartel had meant a rise in TDR prices practically every month. The development is a sequel to a 2008 order of the High Court here, which stayed a state government decision to allow 33 per cent extra building rights (measured as more of Floor Space Index, or FSI, the ratio of what can be erected on a plot of land to its area) in return for more premium. Nainesh Shah, executive director of Everest Developers, argued that TDR rates can be brought down only by an increase in the stock of land and the government are the only entities that can make this happen. More land needs to be released, Ashutosh Limaye, associate director, strategic consulting, Jones Lang LaSalle Meghraj, saidâ€Å"TDR trading follows the open market principle. For areas that are popular and in demand for real estate development (Bandra, Chembur, Vile Parle, etc), land prices is high and it makes sense to buy TDR even at a higher rate†. However, A Vile Parle-based activist and former builder, Bhagwanji Raiyani, filed a Public Interest Litigation in the Bombay High Court asking for a total ban on TDR, following which the court in an interim order banned the use of TDR along the Eastern and Western Express Highways and the Eastern and Western suburban railway tracks. In the recent times, the government is considering a proposal to increase floor space index (FSI) in the suburbs to two without taking the transfer of development rights (TDR) route. Under this, for example, a builder involved a slum project in Trombay gets the nod to transfer development rights to the north of the rehabilitation site. Because of this policy, the suburbs are witnessing the construction of tall towers, which use TDR. There has been a 100% rise in property prices in Mumbai, Thane and other places, primarily because of the high cost of TDR. If a builder buys TDR at Rs 4,500 per sq ft, he will have to add another Rs 4,500 per sq ft towards the cost of land and construction. This forces him to sell flats at Rs 10,000 per sq ft even in a distant suburb like Mulund, which is an absurd rate. No wonder there is tremendous consumer resistance. Around 50% of the flats remain unsold because the prices are beyond an average buyer’s reach,’’ (Subhash Runwal, former office-bearer of the Maharashtra Chamber of Housing Industry, reported in Times Of India). The demand for FSI is 10 crore sq ft per annum in the suburbs. If the government sells this at even Rs 2,500 crore, it can generate a whopping Rs 25,000 crore annually. Half of this revenue can be used for improving infrastructure in the suburbs and the rest for development work in the rest of the state†. The Golden Question: How to design new FSI and TDR values for Mumbai? Design a spatial land use strategy based on current land values and future investments in transport (bridges, highways, metro, BRT). Identify high accessibility nodes. Divide the existing and future built-up areas into land use zones based on accessibility and on existing character of the area; Identify and map the historical areas and natural areas that need to be protected, those that should not be redeveloped, and where the new FSI will not be applied; Design regulations (FSI, % lot coverage, setbacks, etc) for each zone. Comprehensive plan ready and approved for the entire city No more TDRs are issued during preparation of plan, however, already issued but not yet used TDRs are honored. Progressive transition: New FSI plan prepared and approved for 2 or 3 main streets and high intensity areas around new metro stations and bridge access. New TDRs can be issued but they have to be used in the areas already mapped for FSI increase. Meanwhile the comprehensive strategy is prepared and approved. More areas for FSI increase are prepared every year and where TDRs can be used. After 2 or 3 years new TDRs are issued only for slum redevelopment and for historical area protection. The above is just a model example of how the increase in FSI would solve the Real Estate problems in Mumbai. If the Government adopt the path which has been used in downtown Manhattan than it would reduce Real Estate prices in the city, help to relocated millions of people, abolish the TDR practice and the additional space could be used to improve the lagging infrastructure of the city. 4.5 Mumbai Salt Pan Land http://infochangeindia.org/Agenda/Coastal-communities/Saltpan-city.html The proposal to use saltpan lands first emerged in 2002 when the Maharashtra Housing and Area Development Authority (MHADA) warned that it was running out of land and asked the state to release land belonging to various departments like defence, the Bombay Port Trust, and saltpan lands. In 2006, the then Union Minister for Commerce and Industries Kamal Nath and Ex Maharashtra Chief Minister Vilasrao Deshmukh worked out a formula of developing saltpan lands on a no-profit-no-loss basis. The scheme proposed allowing private developers extra FSI for commercial purposes after setting aside 225 sq ft houses to accommodate slum-dwellers. In 2007, a committee of u