The Automatic Stabilizer Essay Example for Free

The Automatic Stabilizer Essay In macroeconomics an automatic stabilizer refers to any economic program or policy that automatically increases or decreases to counteract or stabilize the present economic trend without the need for governmental assistance (â€Å"Automatic Stabilizer,† 2007). Auerbach Feenberg (2000) describe automatic stabilizers as â€Å"elements of fiscal policy† that moderate fluctuations in aggregate output. From the Keynesian viewpoint, automatic stabilizers may include those constituents of the government budget that increase government spending and reduce taxes during a recession, and do exactly the opposite during a boom (Auerbach Feenberg). Automatic stabilizers are precipitated by shocks that cause the aggregate economic activity to either increase or decrease (Auerbach Feenberg). As an example, there are certain kinds of taxes, e. g. the progressive tax, that â€Å"rise more than proportionately† to offset increases in income (Automatic Stabilizers). If these taxes did not exist, the government would have to take action against increases in income so as to prevent the inflation rate from rising in the near future. But, if the government had to take action to raise taxes in that event, it would first have to determine that income has, indeed, risen, before it would pass a law and wait for the law to go into effect. This could be a rather time-consuming process. Moreover, by the time the new law is ready to have an effect on the economy, the economic trend may have reversed (Automatic Stabilizers). Automatic stabilizers tend to help the economy regardless of whether it is experiencing or bound to experience a boom or slump. When income decreases, the economy may ultimately hit a recession. However, â€Å"[u]nemployment compensation and income supplements† for the poor may come to the rescue before the government decides to take action against the drop in income (Automatic Stabilizers). As the income drops, there are more people that are eligible for â€Å"[u]nemployment compensation and income supplements (Automatic Stabilizers). Hence, the economy may be saved from experiencing a downturn through these automatic stabilizers. Auerbach Feenberg have estimated that the payroll and income taxes in the United States have the power to offset approximately eight percent of an initial shock to the Gross Domestic Product. However, the impact of these taxes was higher during late 70s and early 80s because of high inflation. Of course, tax rates have an effect on the power of these automatic stabilizers. According to the authors, however, â€Å"the effectiveness of an automatic stabilizer depends not only on how much of an increase in disposable income it produces, but also how large a private response in consumption this increase in disposable income generates (Auerbach Feenberg). † This is because the spending of households with different levels of income is expected to differ even as the automatic stabilizers are at work (Auerbach Feenberg). Undoubtedly, the effectiveness of automatic stabilizers differs among nations with different levels of income inequality. Moreover, countries differ in their tax rates and the design of their income supplements. Therefore, automatic stabilizers are expected to have differing impacts across countries. Regardless of their impacts, however, automatic stabilizers are very helpful for the economics in which they are at work (Automatic Stabilizers). Lastly, by estimating the impacts of various automatic stabilizers, governments may design programs and policies, that is, automatic stabilizers, that would counteract shocks more effectively in the future. Methods of reducing income inequality are also expected to alter the effectiveness of the automatic stabilizers.

The Applications of ICT- Shopping :: ICT Essays

The Applications of ICT- Shopping Supermarkets and checkouts. The advancements in the technological world have allowed supermarket chains and other national stores to quickly dominate the market and are driving out the concept of the ‘local stores’. This surge in the market has seen shares rise and profits bulge with the three main contenders in mind being Sainsburys, Safeways and Tescos who now serve the whole of the UK between them and are the household names of the shopping world. The ICT input to these businesses is vital in that it provides speedy service; controls stock levels and will even allow bank balance transfers to be carried out with minimal difficulty or technical experience. The ‘till’, arguably a simple word has been given several names in the information technology world depending on the tasks, which the one in question can perform. Â · POS- Point Of Sale terminal (ordinary checkout) Â · EPOS- Electronic Point Of Sale terminal (Checkout connected to a computer data base using a laser scanner to read bar codes). Â · EFTPOS- Electronic Funds Transfer Point Of Sale (the same as EPOS with the capability to make transfers for customers to pay for goods via credit or debit cards. The checkout uses the ICC (integrated chip card which is very popular on the continent) or Magnetic strip on the card to request the information of the user to see whether or not they are eligible to make an EFT. The magnetic strip can only hold a limited amount of data such that an 11 or so digit code is sufficient to recall the same data from the bank servers. The ICC however can hold much more information and is much harder to copy or have data changed by criminals or hackers. The checkouts used in modern supermarket chains are all capable of EFT and are therefore all considered EFTPOS. In the next few years checkouts or ‘tills’ in all retail shops will use the ICC Barcodes The goods found in supermarkets are labelled with barcodes used to identify specific items on a central database. When the good is scanned a request is sent from the checkout to this main database where the request is handled and the appropriate information returned to that terminal and the correct amount reduced from the stock of that item. The bar codes are formed of lines of different widths and as each line represents a number the resulting code is the information sent to the main computer.

Medieval and early modern Essay

The medieval and early modern periods were eras with distinctive issues and ideals. Some of their key themes were very similar, such as the importance of religion and the role it played in everyday life, while other matters were unique to their time, such as the medieval selling of indulgences, or the early modern Reformation of the Church. These examples illustrate clearly the mixture of change and stasis in the two ages, as a subject shared by both periods yielded so great a diversity of issues. The distinction of the eras makes it evident that some change did occur, but as the period of time between them was not very great, the change must be limited. Everyman and Dr Faustus are respectively medieval and early modern drama texts that share common issues. However, the way in which they handle them varies, and allows an exploration of whether the people and culture of the medieval and early modern period differed by slight degree or strict demarcation. The medieval age of English history is epitomised as a strongly religious time, where Christianity provided a strict identity and purpose in life. Belief in Heaven, Hell and Judgement was very real, as was the constant fear of sin and damnation. The Church was able to manipulate the devout faith of its followers by selling fake holy relics and religious indulgences. The laymen believed it was necessary for them to obtain such items in order to purify themselves of sin, and enter Heaven without suffering through Purgatory. Medieval drama did much to reinforce these beliefs, being completely liturgical. Morality plays were first performed at religious holidays, and warned audiences about sin and salvation, with personification of the psychomachia. They all shared a highly similar narrative structure as good and evil battled for the soul of an initially virtuous man who had become caught in vice. This person represented the whole of humanity, and the play would show how, despite temptat ion and with the help of Christian values, he realised his error and won salvation. By the early modern era, neither the faith in Christ nor in Judgement had diminished, but the understanding of them had altered. People became frustrated with the â€Å"ecclesiastical despotism† that was rife in the established Church, and there was widespread dissatisfaction with the papal  organisation which, according to Erasmus, was felt to be dominated by ignorant monks. The subsequent Reformation changed the form and understanding of religion, making it more accessible to the average person by removing the intercessory functions of priests and bishops, and giving ordinary people more control over their spiritual state. This religious change also had political implications. The disestablishment of the Church created a degree of civil unrest among Catholic and Protestant groups, as factions sprang up with each viewing the other as traitorous, either to England or to God. However, this was not the only face of the early modern era. As the beginning of the Renaissance, it was also â€Å"a time of heady intoxication with†¦learning and†¦discovery.† The exploits of the European sailors and the excitement over new civilisations are allegorised by Faustus’ discovery of magic and the power it wields. As a liturgical morality play, Everyman submits itself fully to the pre-Reformation teachings, and absorbs the conventional attitudes. It was written to encourage medieval audiences to avoid material pursuits, and to ensure they involved themselves in good deeds and were prepared for Judgement. Death was a constant escort in medieval England, and could be expected at any time. As such, Everyman does not convey fear of death itself, but rather of how God will judge man after it, as the protagonist proclaims â€Å"Full unready I am such reckoning to give† and begs for more time in which to make his â€Å"counting-book†¦so clear That my reckoning I should not need to fear.† To achieve this salvation, Everyman is advised to turn to the Catholic rites of confession and penance, and to scourge himself to remove his sins. As Cawley highlights in his introduction, morality plays were â€Å"less interested in man’s earthly life than in his spiritual welfare in the l ife to come.† Religion is as prominent in Doctor Faustus, but Marlowe presents a contrasting attitude to that of Everyman. His play provides a mocking critique of religious customs, and particularly ridicules Catholic rituals. Marlowe dresses Mephostophilis in the habit of an old Franciscan friar, as Faustus comments â€Å"That holy shape becomes a devil best,† illustrating an air of contempt for the Catholic clergy. He further associates Catholicism with  evil and devilry as he conjures Mephostophilis by chanting in Latin, the language of the Catholic Church. This mockery of Catholicism may be testament to contemporary social attitudes rather than the personal view of Marlowe himself. In the medieval era, it was highly uncommon for anybody to speak out against the Church, either through fear or because it was all they knew, but the Reformation encouraged writers to criticise the papacy and the earlier Church, often as a form of public entertainment. Writers often allied Catholic characters with themes of idiocy or ineptitude, as Marlowe does in his portrayal of Pope Adrian as â€Å"a humourless megalomaniac, void†¦of commonsense† . Marlowe manipulated the public disdain of Catholicism to criticise established religion in general, challenging many commonly held views, especially regarding forgiveness and salvation. Everyman’s central theme suggests that God’s mercy always allows sinners to repent, regardless of how much wrong they have done. This belief is illustrated when, despite Death telling Everyman to â€Å"Come hence, and not tarry,† Everyman is able to go to Confession and purify himself from sin. Knowledge, Beauty, Strength, Discretion and the Five Wits are sent to accompany him to the grave, helping Everyman to realise God’s compassion. Good Deeds guide Everyman into the grave and beyond, providing protection and support when he needs it. In comparison, Faustus also finds that he is sent good forces to protect him from eternal damnation. Unfortunately, these forces are not strong enough to withstand Mephostophilis. The latter’s evil and cunning defeat nature itself, as he dissolves Faustus’ congealed blood with a chafer of unearthly fire to ensure Faustus bequeaths his soul to Lucifer. A Good Angel and a pious Old Man are also sent to rescue Faustus’ soul, but their efforts are overcome just as quickly, as the devils entice Faustus with hellish delights and overpower his weak soul. The Good Angel urges Faustus to â€Å"leave that execrable art† and turn to repentance, but each time Faustus considers prayer the Bad Angel dispirits him, dramatising the internal battles raging within the protagonist’s soul. Marlowe does not conclude that everyone can find redemption in God, as despite striving to turn to Him in his final moments, Faustus is torn apart by devils and condemned eternally. The playwright provides a cynical view of  salvation, as the Good Angel and the Old Man fail to save Faustus, despite seemingly plotting as much as Mephostophilis to win the protagonist’s soul. Marlowe provides further dubious similarity between the two sides, as in their last scene the angels appear to work almost as one, completing each other’s speeches and reinforcing the same message that it is too late for Faustus to repent. The play appears to be concerned with punishment rather than deliverance and salvation, as Faustus is warned that â€Å"He who loves pleasure must for pleasure fall.† In contrast, Everyman is forgiven for a lifetime of sin in his last few moments. Although both plays treat the same ideas of religion and redemption, they portray divergent views. This may be explained by the contemporary change in religious understanding. Some scholars argued that people’s destinies were predetermined, regardless of their actions, while others claimed there was hope for everybody. As Lester notes in his introduction, medieval writers believed that because of mankind’s fallen state, man relied on the grace and salvation earned by Christ and ministered by the Church. In this respect, the distinction between medieval and early modern seems to be vast. However, the fact that both plays have handled the same issues, albeit in different ways, suggests that the difference is of degree rather than demarcation. As well as the religious elements, Doctor Faustus incorporates Renaissance themes of discovery and knowledge, as Faustus finds a â€Å"world of profit and delight, of power, of honour, of omnipotence† has opened to him. Fundamentally, it is a craving for ultimate knowledge that drives Faustus to necromancy, as he proclaims, â€Å"A sound magician is a demi-god: here tire my brains to gain a deity!† By integrating such humanist ideals into the play, Marlowe creates a dimensional personality for Faustus, which the audience can appreciate and respond to. They witness the development of the character, forcing them to become emotionally involved in the mental turmoil he endures, and keeping them engrossed until the very last line of the play. Professor Bradbrook suggests that Doctor Faustus is primarily an examination of the protagonist’s â€Å"mental development, rather than simply†¦the form of Faustus’ fortunes.† The rationale behind Faustusâ€⠄¢ detailed growth is that it makes him a real person, with whose experiences the audience can sympathise. Everyman’s character is not developed in the way his counterpart’s is. He is generic and seen as part of the wider universe rather than as an individual. The dramatist has been careful to portray Everyman as representative of mankind rather than as a character in his own right. He is not given a personal history nor is any indication provided that might differentiate him from anybody, with the effect of making Everyman relevant to all audience members. He personifies every man and the trials of every person. His example can be applied to anybody, and everybody can see that the salvation he reaches is available to them as well. In this manner, Everyman is as accessible to the audience as Faustus is, although in different ways and with variant purposes fulfilled. There are further similarities between the medieval and early modern plays, some of which have been adopted directly from the former. The use of allegorical and highly functional characters is prevalent in both plays, although it is not as common among other Renaissance texts. In Everyman, each character serves a distinct purpose, showing Everyman how he has misplaced his trust in worldly matters and must turn to Christian teachings for salvation. Fellowship and Kinship tempt Everyman astray by offering to distract him with feasting, drinking and women. Even material Beauty and Knowledge cannot help him, leaving Everyman to seek out Confession, Contrition and Good Deeds. Doctor Faustus is very much in keeping with this medieval attribute. Mephostophilis is the embodiment of temptation, as he distracts Faustus from repentance whenever he feels the protagonist waver, and later admits â€Å"‘Twas I that, when thou wert I’ the way to heaven†¦led thine eye.† The Good Angel and Old Man are personifications of good, devout Christians who try to save Faustus. They too can be seen as tempters, as they try to win his soul. The two plays also share personification of the Seven Deadly Sins. Mephostophilis conjures them as a distraction for Faustus, allowing him to delight in the sins, while in Everyman the sins are allegorised in the behaviour of the protagonist’s dearest people and possessions, suggesting that Everyman has allowed the sins to master him. As well as thematic similarities, there are several production parallels between the medieval and early modern drama. However, these are veiled by  the immense changes that occurred on the stage in the intervening years. Before the Renaissance, plays were performed on and around large wagons, which were carted from one designated area to another. The set was very simple for transportation purposes, but this helped make it apprehendable for the common peasants. The staging was very different for Doctor Faustus, but some of the same ideas regarding spacing and costumes were used. The pageant-wagons had to make use of limited space, and used an upper room to serve as a balcony, heaven, or a distant location. In later theatre the same concept was utilised, with a single spot serving a multitude of functions. Costumes were also sparse, but symbolic props indicated particular roles and characters, another theatrical convention that early modern dramatists relied upon before professional actors were hired in the permanent theatres, and elaborate costumes and sets were made. The new theatres allowed more believable storylines to develop as settings and characters became more realistic, allowing the fiery devils of Doctor Faustus to achieve their optimum effect. However, there is one dramatic convention that is key to Doctor Faustus, which was not common in medieval works. Faustus’ soliloquies provide an insight to his character that cannot be gained in morality plays, and are actually symbolic of tragedies. While Everyman’s genre is made clear by its fully functional characters and its reliance on the protagonist’s generic nature, Marlowe’s play balances medieval aspects with contemporary humanist elements and manages to create a new genre that combines elements of morality and tragedy, creating an increasingly real persona. Faustus is distinguished from his medieval counterpart by his illustration of the psychology and passions that drive him. He concedes to his hubris and allows his ambition and lust for power to destroy him, something Everyman cannot do. The tragedy element is vital to Doctor Faustus as that is what gives it the memorable depth and allows the drama to move away from being a simple morality pla y. In conclusion, it is evident that despite their classification as two separate periods, the medieval and the early modern eras share many themes and issues. Their similarities are not limited to literal points, and  incorporate social and customary ones. The eras do have their differences, as is illustrated by their distinction and by their changing contemporary outlooks. Marlowe’s handling of the plays’ shared subjects differs from that of Everyman’s, as the former had a variant combination of social factors to draw his conclusions from. However, the time lapse between the two periods was not great enough to warrant a complete overhaul of thinking and customs. As Cookson realises, â€Å"the traditions of the Middle Ages still weighed heavily† over the early modern writers. At the point at which Doctor Faustus was composed, the difference between medieval and early modern was still of degree rather than strict demarcation. Bibliography  §Bradbrook,MC Themes and Conventions of Elizabethan Tragedy 2nd Edition (Newcastle: Cambridge University Press, 1990)  §Cawley,AC (ed.) Everyman and Medieval Miracle Plays (London: Everyman’s Library, 1967)  §Cookson,L Doctor Faustus (Hong Kong: Longman Group UK, 1987)  §Davies,T Humanism (New York: Routledge, 1997)  §Henderson,P Christopher Marlowe (London: Longmans, Green & Co, 1966)  §Lester,GA (ed.) Three Late Medieval Morality Plays (London: Ernest Benn, 1981)

Essay on The Effects of the Reformation on European Life

The Effects of the Reformation on European Life European society was divided from the word go, people all around Europe were dominantly Catholic before the reformation. This time was bringing change throughout Europe with a heavy influence on art and culture because the Renaissance was occurring; a religious revolution was also beginning, which was known as the Protestant Reformation. The Protestant Reformation was the voicing of disagreements by a German Catholic priest about the Catholic Church; this priest was Martin Luther and was excommunicated from the church for his actions. The Protestant Reformation helped to influence and strengthen the Renaissance that was just arising in England.†¦show more content†¦These all derived from an idea that the Catholic should change the way they operate, and people realised that it could be changed an used such an opportunity to their advantage. All of the above held a different impact on society and a different aspect of change to their religion. The impact that this had on religion itself was of great importance but it mainly affected those who had close contact with the laity, this was generally the clergy but I am certain that other people got caught up in the violence and persecution that was generated by this sudden change. I believe that the impact described in all the literature that we have from that time cannot begin to describe the impact that all this had on Europe. The Protestants and the Catholics have had many disagreements with doctrine. In these times, many of the controversies have been over Holy Communion, salvation by works or by grace, and whether the sacraments were grace bearing. Now the main conflicts are about homosexuality, birth control, abortion, and women being ordained into the priesthood. The disunity is not just between the Protestants and the Catholics, but also with in the Protestant denominations. Luther and Calvin were not that different, both strong believers in the reform of the CatholicShow MoreRelatedThe Protestant Reformation And The Reformation916 Words   |  4 PagesThe Protestant Reformation took place in the 16th century and was a major European movement whose goal was to reform the beliefs and practices of the Roman Catholic Church. This movement led to people worshipping God as they wanted and no longer relying on the Catholic Church for guidance with religious matters. Even though people were doing what they believed, the Protestant Reformation brought many conflicts. Religious disagreements caused bloody conflicts all over Europe. The principal figureRead MoreCounter Reformation And The Counter Reformation849 Words   |  4 PagesElectronic Encyclopedia published an article about Catholic Reformation, and it wrote that â€Å"Counter Reformation, 16th-century reformation that arose largely in answer to the Protestant Reformation; sometimes called the Cathol ic Reformation. Although the Roman Catholic reformers shared the Protestants revulsion at the corrupt conditions in the church, there was present none of the tradition breaking that characterized Protestantism. The Counter Reformation was led by conservative forces whose aim was bothRead MoreThe Reformation And How It Shaped Our Western World1226 Words   |  5 Pageson October 31st celebrates the 500th anniversary of the Reformation. It started in Germany but then spread all across Europe. The Reformation was needed to help modernize Christianity but it also created divides in the Protestant Movement. What is interesting is that there were other movements within the Catholic Church that predated 1517, so what made Martin Luther so special. This paper will go in depth on the accounts of the reformation and how it shaped our western world. Some theorists justRead MoreHow Context Affects Art1074 Words   |  4 Pagescontexts they were surrounded by. The influence of the Catholic Re formation had taken place in different time periods and throughout European countries. Among many artists influenced by the Catholic Reformation, Mathias Grà ¼newald and Francisco de Zurbarà ¡n’s works prominently show its influence. They both painted the same subject matter. However, it is traceable that their works of art have different outcomes due to the Reformation and other sub-influences they had. How contexts had affected theirRead MoreWw1 Historical Analysis1169 Words   |  5 Pagestitled A Political History of Modern Europe from the Reformation to the Present Day†. The second book, was written in 2007 by Lynn Hunt, is titled â€Å"The making of the West: Peoples and Cultures†. In both of these textbooks the history of World War I is discussed, but the way the history is interpreted shows a large quantity of differences. When comparing these two pieces, Schevill’s book appears to put a larger emphasis on the current domestic European relations . Hunt’s text focuses more on individualsRead MoreThe Enormous Growth During the Renaissance1420 Words   |  6 PagesThe term Renaissance in general refers to â€Å"Rebirth† or â€Å"Reconstruction†. To be exact, the meaning came from all the changes experienced and inventive ideas that influence during the European history. The Renaissance occurred between the 14th and 17th century when there was revival in both learning and culture in Europe. It began in Florence, Italy and traveled throughout other city-states in Italy. It mainly occurred in Italy due to the history of Rome and Roman Empire. The Renaissance was aRead MoreAreas of Reformation in Greece Essay934 Words   |  4 Pages Tax Reform Tax reformation is one of new austerity measures that have been adopted by the Greek government with the EU supervision, which in the Economic Policy Reform 2012 report by the Organization for Economic Co-operation and Development (OECD), mentioned a few key issues regarding the reinforcement of legal measurement, tax evasion, transparency. One of the elements in tax reformation is rationalising personal income tax and eliminates a number of deductions regarding base broadeningRead MoreInfluence Of Science And Religion1564 Words   |  7 Pagesword of God. Development in humanity became less dependent on religion and religious power. During the time of the Scientific Revolution, there were advancements in chemistry, medicine, machinery, astronomy, and mathematics which had many positive effects on the lives of everyday people. With these advancements in science, the differences between people, due to class and gender, started to become less important. There were many important events during the Scientific Revolution that changed the courseRead MoreThe Renaissance And Its Impact On The European Renaissance1694 Words   |  7 PagesWith the dark ages coming to end and the economy of Europe slowly beginning to rise again, a giant scale cultural revolution like never before was slowly beginning to sweep over Europe. Becoming what we now know as the European Renaissance, every aspect of European life changed because of this revolution. The Renaissance began a renewed interest in the people to seek knowledge and question what the world around them meant. The Renaissance wasn’t just about learning however, it in cluded exploringRead MoreThe Reformation And Its Effects On The World1356 Words   |  6 PagesThe Reformation and its Effects on the World. â€Å"Out of love for the truth and the desire to bring it to light, the following propositions will be discussed at Wittenberg, under the presidency of the Reverend Father Martin Luther, Master of Arts and of Sacred Theology, and Lecturer in Ordinary on the same at that place (Luther).† With these words Luther began the long war against the Catholic Church, that would later become known as the protestant Reformation. It would be one of the largest forces