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Sample details Pages: 25 Words: 7363 Downloads: 3 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Declaration of originality Abstract Don’t waste time! Our writers will create an original "An assessment of the importance of infrastructure investment in the" essay for you Create order Table of contents List of tables? List of figures? Acknowledgements CHAPTER 1 à ¢Ã¢â€š ¬Ã¢â‚¬Å" INTRODUCTION Rationale for the research Research Aim Research Objectives Outline Methodology for the research Dissertation Contents CHAPTER 2 à ¢Ã¢â€š ¬Ã¢â‚¬Å" LITERATURE REVIEW Introduction Monetary Policy A review of the Construction Industry in the UK Economy Introduction to Infrastructure Works What is infrastructure? Types of infrastructure A review of Public and Private Investment within the infrastructure sector CHAPTER 3 à ¢Ã¢â€š ¬Ã¢â‚¬Å" RESEARCH DESIGN METHODOLOGY 3.1 CHAPTER 4 à ¢Ã¢â€š ¬Ã¢â‚¬Å" DATA COLLECTION ANALYSIS Introduction Case Study Analysis CHAPTER 5 à ¢Ã¢â€š ¬Ã¢â‚¬Å" CONCLUSION The Dissertation Aim Research Objectives Personal Recommendations Limitations of the Research Further Research Acknowledgements In 1999, I completed the 1st year of the full-time Quantity Surveying course at Glasgow Caledonian University before moving to America in 2001. After a five-year stay, I returned to Glasgow in September 2006 and re-enrolled in the Part-time Quantity Surveying course. Ten years on from the first experience of the QS course, it gives me great pleasure and pride to be submitting one of the last pieces of work in the honours year. It has been an amazing and unexpected journey. I would not be in this position if it were not for the incredible levels of support and encouragement shown by so many and would like to take this opportunity to acknowledge some of these people. First, I would like to thank Raymond McCafferty Michael Heggarty of Cruden Building Renewals for employing me and giving me this opportunity. Their continued support and encouragement throughout this process has given me the focus and drive to continually improve my work. My colleagues at Cruden also deserve a special mention for their support during the dissertation and without the laughs during the day; this process would have been so much more difficult. Thanks guys!!! I would also like to thank Halbert Mills at Glasgow Caledonian University for accepting me back into the course and believing that I had the potential to get to this stage. During the course of this dissertation, I had some challenging times when I felt like I did not know how to develop my chosen topic. I would like to give my sincere thanks to my supervisor, Dr. John Lowe, for his inspirational input when I had these difficulties. Unfortunately, I cannot name everyone but I want to thank all my friends and family who without their support I would never have completed this piece of work. Mum, Dad, Gran, thank you so much for everything. Finally, the love and support shown by my Wife, Brooke, during this process has been a major source of inspiration. We will both be glad when the late night studying and completing of projects is finally over. Peter McLellan 1. Chapter 1 Introduction 1.1 Rationale for the Study à ¢Ã¢â€š ¬Ã…“Infrastructure forms the economic backbone of the UK. It is the fabric that defines us as a modern industrialised nation. The standard and resilience of infrastructure in the UK has a direct relationship to the growth and competitiveness of our economy.à ¢Ã¢â€š ¬? (Skinner, 2010) à ¢Ã¢â€š ¬Ã…“For the UK to retain its competitive edge, a longer-term view of investment in infrastructure must lead policy making.à ¢Ã¢â€š ¬? (Stewart, 2009) This dissertation offers an opportunity to explore and research a highly topical issue. The United Kingdom finds itself still in the midst of one of the worst economic downturns in recent memory and in a period of fiscal consolidation. As a result of this depressed economic situation, difficult decisions have had to be made by all sectors within the UK to work together to drive the country out of the recession. The recent edition of the Economic and fiscal Strategy Report and Financial Statement and budget by the Chancellor of the Exchequer, highlights the importance of implementing measures that will promote sustainable growth. Despite modest growths to GDP of 0.4 per cent in the final quarter in 2009 (NSO, 2010), the general consensus is that the United Kingdom is in the early stages of recovery. The 2010 budget, called à ¢Ã¢â€š ¬Ã‹Å"Securing the recoveryà ¢Ã¢â€š ¬Ã¢â€ž ¢, outlines ways in which it aims to support this vision. One of these policies, is to à ¢Ã¢â€š ¬Ã…“invest in infrastructure, including additional funding for transport and local roads and creating a Green Investment bank.à ¢Ã¢â€š ¬? (UK Budget, 2010) Also, the Eddington Report, published on 1 Dec 2006, was a study jointly commissioned by the Secretary of State for Transport and the Chancellor of the Exchequer. Its role was to analyse the long-term relationships, within the boundaries of the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s wider commitment to sustainable development, between transport and the UKs growth, stability and economic productivity. The findings of this study will be discussed and compared to the investment required to meet the future demands of the UK. Furthermore, in a recent study carried out by the British Chambers of Commerce (BCC), it revealed that inadequate energy, transport, and communications infrastructure continues to reduce the opportunity for UK businesses to grow. It also outlines that during this period when businesses play a vital role in the recovery of the economy, productivity is being affected as a result of lack of capacity, thus restricting the UKà ¢Ã¢â€š ¬Ã¢â€ž ¢s economic potential. (BCC survey, 2010) In response to the survey carried out in 2010, David Frost, the Director general of the BCC stated the following: à ¢Ã¢â€š ¬Ã…“A countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s infrastructure is crucial to the success of its businesses. In the current environment of economic uncertainty and public spending constraints, our energy, digital, and transport networks must be up to the job if business is to deliver growth and create employment.à ¢Ã¢â€š ¬? The intriguing situation that the UK Government now face is deciding the best way to stimulate economic growth without increasing the deficit. One of the issues with increasing deficits is the Government will have to borrow to service the debt. As a result of the world-banking crisis over the last few years, there is reluctance to increase the UK debt further and therefore this might have an impact on infrastructure investment in this country. This dissertation provides an opportunity to research the level of infrastructure required in the UK and review the part it plays to the long-term sustainable growth of the UK economy. Furthermore, in doing so, the author intends to see if further investment in Infrastructure wo rks is viable in the current economic climate. 1.2 Aim The aim of this dissertation is to assess the importance of infrastructure investment in the United Kingdom and how this impacts on the long-term sustainable growth of the UK Economy given the current economic constraints. 1.3 Objectives To review Fiscal and Monetary policy theories available to the UK Government. To review the current and future demands for infrastructure works in the UK. To understand the level of importance of infrastructure work investment to the UK economy. To understand the roles, responsibilities and options available to public and private bodies in raising capital to invest in infrastructure works in the UK. To highlight the economic and social benefits gained as a result of increased investment in chosen infrastructure sectors by utilising hypothetical cost model projections. 1.4 Outline Methodology of the Research 1.5 Dissertation Contents Chapter 2 Provides an extensive Literature review on the topic area. The author will provide a general overview of economic theory, introduction to infrastructure, and a review of the relevant studies published worldwide that reveal intellectual thoughts on infrastructure investment impact on the economy. This will be carried out in the way of both descriptive and an analytical approach to all the appropriate literature sourced to aid in this dissertation. Naoum (2007) states à ¢Ã¢â€š ¬Ã…“It is descriptive in that it describes the work of previous writers and it is analytical in that it critically analyses the contribution of others with a view of identifying similarities and contradictions made by previous writersà ¢Ã¢â€š ¬?. According to Naoum (2007), the literature review will serve two purposes. First, it allows for gathering of information to allow development of issues and themes within the chosen topic that ultimately shape the research design. Second, the literature review will help form the basis of the research design by analysing previous research designs. Chapter 3 Chapter 3 introduces the reader to the numerous research techniques available to the author and will highlight the strengths and weaknesses of each and merits of each approach, before indicating the chosen methods of quantitative analysis technique Chapter 3 examines the various research techniques that were available to the author and describes the strengths and weaknesses of each of the approaches in respect to the available data. In particular this chapter presents the reasoning behind the authorà ¢Ã¢â€š ¬Ã¢â€ž ¢s decision to adopt the quantitative analysis technique and explains how this approach was applied. This chapter also describes the source of the data and highlights any potential bias or limitations that the author experienced within the analysis. Furthermore this chapter explicitly explains the process for selecting and categorising the appropriate data prior to analysis in a consistent manner. John Hannah paragraph Chapter 4 Chapter 4 builds upon the process described in the previous chapter and examines the primary source of data to assess what trends are evident with each of the particular categories. This section goes on to expand upon the original quantitative analysis and examine a series of quantitative case studies to assess the extent of early warning events and compensation events that occurred on completed projects. John Hannah paragraph Chapter 5 In conclusion, chapter 5 summarises the findings of this research and consider if the original aim and objectives have been achieved. Finally, this chapter discusses the authorà ¢Ã¢â€š ¬Ã¢â€ž ¢s findings and proposes a list of recommendations for future studies. John Hannah paragraph 2. Chapter Literature Review 2.1 Introduction à ¢Ã¢â€š ¬Ã…“The purpose of research is to make a contribution, however small, towards understanding the phenomenon being studied and ultimately towards the total body of knowledgeà ¢Ã¢â€š ¬? (Parahoo, 2006) The intended purpose of the following literature review is to provide a general background to the chosen topic that will aid in the understanding of the following areas: How the UK Economy functions and what factors drive it. Description analysis of previous research on the impact of infrastructure investment on the economy. The role the construction industry plays in the UK Economy. The information presented within the literature review will enhance the readerà ¢Ã¢â€š ¬Ã¢â€ž ¢s knowledge of the topic with a view of providing clarity and understanding on the findings presented in chapter 4. Economic Theories à ¢Ã¢â€š ¬Ã…“There are conflicts of opinion on economic theory. For instance, monetarists argue that rises in the money supply cause inflation whereas Keynesians argue that it is changes in inflation which cause changes in the money supplyà ¢Ã¢â€š ¬? (Stanlake Grant, 1995) Keynesian Economics John Maynard Keynes was a British economist whose ideas have been a central influence on modern macroeconomics, both in theory and practice. He advocated interventionist government policy, by which governments would use fiscal and monetary measures to mitigate the adverse effects of business cycles, economic recessions, and depressions. His ideas are the basis for the school of thought known as Keynesian economics. Keynes solution to poor economic state is to introduce impetus spending or as the US President Franklin Roosevelt described, à ¢Ã¢â€š ¬Ã‹Å"prime the pumpà ¢Ã¢â€š ¬Ã¢â€ž ¢. Keynes argues that the government should step in to increase spending, either by increasing the money supply or by actually buying things on the market itself. A supporter of Keynesian economics believes it is the governments job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation. Alternative Economic Theories Since Keynesian economics advocates for the public sector to step in to assist the economy generally, it is a significant departure from popular economic thought, which preceded it à ¢Ã¢â€š ¬Ã¢â‚¬  laissez-fair capitalism. Laissez-fair capitalism supported the exclusion of the public sector in the market. A number of laissez faire consequences are drawn from Says law. Say also advocated public works to remedy unemployment. Say argued against claims that business was suffering because people did not have enough money and more money should be printed. Say argued that the power to purchase could be increased only by more production and is also best known for coining the phrase supply creates ità ¢Ã¢â€š ¬Ã¢â€ž ¢s own demand (Curwen, 1997) James Mill used Says Law against those who sought to give economy a boost via unproductive consumption. Consumption destroys wealth, in contrast to production which is the source of economic growth. The demand for the product determines the price of the product, but not if it will be consumed. Alternatively, Keynes is an advocate of trying to stimulate consumption by government intervention. Views on Economic thoeries Cutting support now, as some are demanding, would run the real risk of choking off the recovery even before it started, and prolonging the global downturn. (Darling, 2009) If consumers, markets and businesses get the message that government wants to carry on spending and isnt serious about dealing with the deficit, they will start to conclude that the UK is no longer a safe place to invest in, spend in or build a business in, (Cameron, 2009) Importance of Construction industry to UK Economy A recent survey commissed by the UK Contractors Group and carried out by LEK Consulting to demonstrate the impacts of the Construction industry on the UK Economy was distributed September 2009. The main aim of this report was to specifically highlight the benefits of investing in construction. The report covered 3 main areas: Contribution of the construction industry at national and regional level. Key contribution that construction makes to national employent levels. The role that the construction industry plays in the broader economic and social objectives. The reports contention is that the construction industry is vital to the overall UK economy while still being in a recession as it provides the following: Construction is a major contributor to the UK DGP. Construction sector employs circa  £3m people throughout 300,000 firms. Construction is also an important driver for other sectors, without which there would be a loss of domestic production capacity and skills. The report, Construction in the UK economy: The Benefits of Investment, shows that construction is the best sector for stimulating employment. It also shows that every  £1 spent on construction leads to an increase in GDP of  £2.84, as the spending not only creates construction output worth  £1, but also stimulates growth elsewhere in the economy worth  £1.84. à ¢Ã¢â€š ¬Ã…“With the Chancellorà ¢Ã¢â€š ¬Ã¢â€ž ¢s Pre-Budget Report looming, the CBI is continuing to press the case for protecting capital spending by government.à ¢Ã¢â€š ¬? (John Cridland, CBI Deputy-Director General, 2009) à ¢Ã¢â€š ¬Ã…“A strong economy needs fit-for-purpose schools and hospitals, and it will be the construction industry that builds the new transport and energy infrastructure needed to shift to a low-carbon economy. (John Cridland, CBI Deputy-Director General, 2009) Introduction to Infrastructure Works Infrastructure investment impact: Previous Research Over the last 30 years there have been various economic models developed to help in the research of the impact of infrastructure investment on the economy. The in-depth empirical studies have mainly utilised macro-economic level data, which includes cross-state and cross-country data. (Straub, 2007) edinburgh paper According to the studies carried out by Aschauer (1989) he states that when analysing the importance of public investment to the productivity improvement and economic growth, added weight must be attributed to the public investment decisions made by the Government. Furthermore, the study indicates increased productivity and growth in the economy by investing in areas such as highways, sewers, streets, and water systems. To ascertain these findings, Aschauer took the average annual growth rates of total factor productivity and the non-military public capital stock in America over the period 1950-1985; Aschauerà ¢Ã¢â€š ¬Ã¢â€ž ¢s data indicated a close relationship between level of investment in non-military infrastructure and productivity. Put in Tables from study Further research in the United States carried out by Munnell (1990) analysed the impact of the stock of public capital on economic activity at the regional and state levels. In conclusion, Munnell found that the US states that had invested in infrastructure had greater output, increased levels of private investment, and high levels of employment growth. The study highlighted above, Aschuer (1989) estimated an elasticity of output with respect to public infrastructure capital in the United States during 1950-1985 of between 0.38 and 0.56. These results have been shown to be econometrically suspect and subsequent work suggests the elasticity is much smaller. The average elasticity across OECD countries for the period 1960-2001 has recently been estimated to be 0.2 (Kanps, 2004). Aschauers paper has, however, proved very fruitful in terms of subsequent research, which it stimulated. (Crafts Leunig, 2005) A number of empirical studies have looked at the relationship between all public infrastructure investment and GDP growth. On average these studies seem to indicate a positive elasticity of output to public capital of around 0.20. Put another way, a ten per cent increase in public capital stock increases GDP by around 2 per cent. (Eddington report 2006) The eddington report suggest that there are limitations to these empirical studies and the results should be viewed with caution. OECD (2003) argues that early empirical work on the link between infrastructure investment and economic performance overstated the magnitude of the impact on GDP and productivity growth (The sources of economic growth in OECD countries, OECD, 2003) In particular, studies that focus on public investment in capital and infrastructure in a broad sense, rather than on transport specifically, do not really distinguish between types of investment in terms of new build, upgrade, maintenance etc although some do make specific conclusions about the value of transport infrastructure investment. Later studies using more complex modelling suggest a positive, albeit weaker relationships between infrastructure and GDP. These include: Kocherlakota and Yi (1997), Demetiades and mamuneas (2002), Oà ¢Ã¢â€š ¬Ã¢â€ž ¢Fallon (2003), and Nijkamp and Poot (2004). (see figure 1.5 eddington report 2006) In 1993, Easterly and Robero carried out further research to expand on the work in this field. Called Fiscal Policy and Economic Growth: An Empirical Investigation, it details several conclusions that support the findings expressed by Aschauerà ¢Ã¢â€š ¬Ã¢â€ž ¢s research in 1989. It tackled areas such as the rate of growth and the level of development by employing historical data and recent cross-section data. The main findings outlined that there is a strong relationship between a countries fiscal structure and the development level and that investment levels in communication and transport is consistently correlated with growth. This therefore indicates that infrastructures are important in the economic prosperity of a nation (Easterly, Robelo 1993). Put in reference Eisner (1991) highlighted that public infrastructures not only serve as an intermediate good in physical goods production, they can also be final consumption goods. For example, water and sewage systems benefit environment, better transportation saves time spent on travelling, public parks give people pleasure, etc. Canning, Fay, and Perotti (1994) found substantial effects of physical infrastructure on economic growth based on the international data set. The strategy for national infrastructure also states, à ¢Ã¢â€š ¬Ã…“The majority of empirical research indicates that there is positive relationship between infrastructure and economic growthà ¢Ã¢â€š ¬? (strategy for national infrastructure, 2010). Introduction to Infrastructure What is Infrastructure? Set-up in December 2009 to help meet the infrastructure requirements in the UK for the next 10-20 years, Infrastructure UK defines Infrastructure as key economic sectors which include: Water, Waste, Energy, Transport and communications (strategy for national infrastructure, 2010). Infrastructure networks enable people, goods, energy, information, water, and waste to move efficiently around the UK and, in some cases, across its borders. The extent, capacity and quality of these networks has a direct bearing on the economy of the UK, the environment and the quality of life of everyone who lives in or visits the UK. Infrastructure Studies in the United Kingdom Extensive research carried out in the United Kingdom has indicated the level of infrastructure required for each sector and this can be cross-referenced with studies highlighted in the previous section. For example, the findings from the research carried out by Eisner, 1991 and Easterly, Robero 1993 indicated a relationship between transportation and its impact on the growth of the economy. The Eddington report was published on the 1st December 2006 and was carried out by Sir Rod Eddington under the instruction of the UK Government. The report is an examination of the impact transportation decisions will have on the UK environment and economy. The report analyses the current global economic demands and how our current transportation infrastructure must meet the demands of the 21st century. It states that with rising population and resultant greater demands on the country, higher levels of congestion and issue with reliability will have adverse effects on the economy if the correct infrastructure is not in place. It contends that by not having the required infrastructure in place it costs businesses more money while also effecting peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s social environment (Eddington Report, 2006). As well as utilising the Eisner, Easterly and Robero findings, the Eddington Report drew on research carried out in more recent times. The studies used in the development of the Eddington Report comprised: The historical significance of Transport for Economic growth and Productivity (Crafts Leunig, 2005), Step change transport improvements (Mann, 2006), and transport and labour market strategies (Gibbons Machin, 2006) Assessing transports contribution to the economy Transport can impact on the performance of the economy in a number of different ways: Transports impact on GDP à ¢Ã¢â€š ¬Ã¢â‚¬Å" Transport can impact on the economy and will ultimately impact on overall output. Gross domestic product (GDP) is currently the best measure of the size of the economy as it measures the total value of goods and services provided. Transport can have an impact on economic output (GDP) thorugh two channels: Firstly, transport can affect GDP though a number of inputs that are used, for example transport may increase employment either by allowing greater access to labour or stimulating the creation of new firms, which can increase the number of goods and services produced and lead to an increase in GDP. Secondly, transport can improve the efficiency with which firms use inputs, in other words transport can have an impact on productivity. For instance, a well functioning transport network can raise productivity by redusing journey times. Transport investment can impact on the drivers of productivity by encouraging prictae investment through raising its profitability; facilitating labour mobility and thereby increasing the returns in investment skills; and enabling effective competition even when economic activity is geographically dispersed. Identifying the impact of transport on productivity is important because improving productivity is a key to determinant of long-term growth and living standards. These effects can either have a one à ¢Ã¢â€š ¬Ã¢â‚¬Å"off effect on the level of productivity or a sustained impact on the growth rate of productivity. Transport can impact on the growth rate of productivity by stimulating innovation through its impact on agglomeration economies, trade and foreign direct investment. In practice these dynamics are very difficult to measure, but are nevertheless extremely valuable, as they determine how quickly the economy grows and therefore the rate of growth in GDP. Transports role in supporting quality of life Critically though, GDP measures alone fail to capture the impacts of transport on the environment or its contribution to the wider well being of society. Transports impact on the environment, for example through carbon and other emissions, can increasingly lead to unsustainable growth, as well as impacting on peoples quality of life. Transport improvements that free up wasted travel time allow people to spend more time with friends and family, and enjoy more leisure activities. An economic welfare measurement would seek to measure such broader impacts of transport on society and the environment rather than just a pure GDP measure. These benefits to general well being are known as economic welfare, or welfare. The use of existing transport networks: What benefits do provide Erenburg (1994) finds that policy measures that make more efficient use of existing transport infrastructure through pricing mechanisms or other traffic management solutions can have a significant impact on growth (linking public capital to economic performance, Erenburg, 1994) Hulten and Schwab (1996) estimate that a 1 per cent increase in infrastructure effectiveness would have an impact on growth seven times larger than a 1 per cent increase in the rate of public infrastructure investment. (the public capital hypothesis: The case of Germany, Hulten and Schwab, 1996) OECD/ECMT (2001) paper on the benefits of transport concludes that à ¢Ã¢â€š ¬Ã‹Å"wider economic benefits may be achieved more efficiently by introducing prices which correspond more closely to costs, or by reallocating existing infrastructure more efficiently between users, or by adopting other transport policies. (Assessing the benefits of transport, European Conference of Ministers of transport, OECD, 2001) Victoria transport policy institute (2003) argues that investment in alternative modes of transport and in management strategies to encourage more efficient use of existing road capacity tends to provide greater economic benefit than expanding existing highways to reduce congestion. The study also argues that the benefits of transport improvements are heavily dependant on local circumstances, in that they will only increase economic development where inadequate transport is a significant constraint on economic activity. EVIDENCE OF CONDITIONS NECESSARY FOR TRANSPORT TO IMPACT ON THE PERFORMANCE OF THE ECONOMY Caning and Fay (1993) assert that infrastructure should not be seen as a factor of production but as a condition for high growth. Kessides (1993) notes that infrastructure does not create economic potential; it only develops such potential where appropriate conditions exist, i.e. other inputs such as labour and capital are available to drive output growth. Indeed, lynde and Richmond (1993), Trinder (2002), and Oà ¢Ã¢â€š ¬Ã¢â€ž ¢Fallon (2003) assert that public and private capital are complements; that physical infrastructure requires the existence of available productive private capital in order to realise economic growth potential, and that infrastructure investment can boost the productivity of such private capital. Infrastructure investment may also feed through to increased labour productivity. Canning and pedroni (1999), banister and berechman (2000), Trinder (2002) and Oà ¢Ã¢â€š ¬Ã¢â€ž ¢Fallon (2003) highlight other important underlying conditions that will influence the impact of transport investment on the economy (SEE REFERENCES FIGURE 1.7 EDDINGTON REPORT) In summary, these include: Economic conditions, a stable macroeconomic policy climate, local market circumstances, agglomeration, and labour market conditions Investment conditions; available funds, timing and structure of investment, type of infrastructure investment, location of investment in terms of network structure and political and institutional conditions, decision making, planning, sources, and methods of finance, level of investment, supporting legal and organisational policies and processes, and method and governance of infrastructure delivery and provision. Funding and delivery mechanisms for UK national infrastructure The National Infrastructure is funded and delivered in a number of ways: Commercially driven, user-paid infrastructure e.g. unregulated airport and ports where it is for the developer to decide what and when infrastructure is built. Any developments is then paid for by consumers (but prices are not regulated because competition exists) Commercially driven, user paid but price-regulated infrastructure with a stronger role for Government. Regulated airports are an example. Government supports investment in additional capacity but this is a commercial decision for airport operator (and where prices are regulated to protect from monopoly power). The energy sector also largely follows this model but prices are set by the market or thorough Government intervention. Price regulated businesses where independent regulators play a stronger role in determining the level and nature of investment. For example, water, where the regulator has an input into the nature of the investment programme but infrastructure investment in funded by users. Price regulated business that is funded by the taxpayer and users e.g. Network Rail. This is a model where the business is funded both by users and taxpayers where the DfT have a central role in setting out the outputs it wants from the railways and the level of funding to achieve that. The regulator sets the efficiency targets and prices for the company. Publicly decided and publicly funded infrastructure e.g. roads. Government decides where they should go, when they should be built and pays for them. This may include some provate finance but ultimately government rather than users pay. Clearly Government enjoys much greater control over infrastructure, but only a small part of the overall picture. Infrastructure essential for supporting economic activity and growth Many key investment projects rely on private finance either as direct investment or through mechanisms such as PPPà ¢Ã¢â€š ¬Ã¢â€ž ¢s. In the current economic climate the Uk faces stiff competition in securing investment à ¢Ã¢â€š ¬Ã¢â‚¬Å" from private investors and from within Government budgets. In this environment, there needs to be a clear vision from Government about the future and needs for infrastructure. This will be essential to persuade the provate sector to invest in the national infrastructure and, in particular, provaste sector investors need long-term certainty in order to judge whether to commit major funds. Chapter 3 This chapter gives a brief description of the methods used for collecting independent data and why they are relevant to the research objectives. Research Strategy Quantitative à ¢Ã¢â€š ¬Ã…“Quantitative research is à ¢Ã¢â€š ¬Ã‹Å"objectiveà ¢Ã¢â€š ¬Ã¢â€ž ¢ in nature. It is defined as an inquiry into a social or human problem, based on testing a hypothesis or a theory composed of variables, measured with numbers, and analysed with statistical procedures, in order to determine whether the hypothesis or the theory hold trueà ¢Ã¢â€š ¬? (Cresswell, 1994). This statement is expanded on further by Bouma and Atkinson (1995), who state à ¢Ã¢â€š ¬Ã…“Quantitative data is, therefore, not abstract, they are hard and reliable; they are measurements of tangible, countable, sensate features of the world.à ¢Ã¢â€š ¬? When endeavouring to find information on concepts, attributes and collating factual information and evidence on the relationships of these facts in order to appraise a theory or hypothesis, a quantitative research method should be employed. Qualitative à ¢Ã¢â€š ¬Ã…“Qualitative research is à ¢Ã¢â€š ¬Ã‹Å"subjectiveà ¢Ã¢â€š ¬Ã¢â€ž ¢ in nature. It emphasises meanings, experiences (often verbally described), description and so on. The information gathered in qualitative research can be classified under two categories of research, namely, exploratory and attitudinal.à ¢Ã¢â€š ¬? (Naoum, 2007) As explained by Dr Naoum, qualitive research can be split into two areas of research, firstly à ¢Ã¢â€š ¬Ã…“exploratory research is used when you have limited amount of knowledge about your topic. Here, the interview technique is usually selected as a method of data collectionà ¢Ã¢â€š ¬? (Naoum, 2007) and secondly à ¢Ã¢â€š ¬Ã…“attitudinal research is used to à ¢Ã¢â€š ¬Ã‹Å"subjectivelyà ¢Ã¢â€š ¬Ã¢â€ž ¢ evaluate the à ¢Ã¢â€š ¬Ã‹Å"opinionà ¢Ã¢â€š ¬Ã¢â€ž ¢, à ¢Ã¢â€š ¬Ã‹Å"viewà ¢Ã¢â€š ¬Ã¢â€ž ¢, or the à ¢Ã¢â€š ¬Ã‹Å"perceptionà ¢Ã¢â€š ¬Ã¢â€ž ¢ of a person, towards a particular object. The term à ¢Ã¢â€š ¬Ã‹Å"objectà ¢Ã¢â€š ¬Ã¢â€ž ¢ is referred to as an à ¢Ã¢â€š ¬Ã‹Å"attributeà ¢Ã¢â€š ¬Ã¢â€ž ¢ a à ¢Ã¢â€š ¬Ã‹Å"variableà ¢Ã¢â€š ¬Ã¢â€ž ¢, a à ¢Ã¢â€š ¬Ã‹Å"factorà ¢Ã¢â€š ¬Ã¢â€ž ¢ or a à ¢Ã¢â€š ¬Ã‹Å"questionà ¢Ã¢â€š ¬Ã¢â€ž ¢. (Naoum, 2007) It is also essential to remember that à ¢Ã¢â€š ¬Ã…“the data gathered under the qualitative research can later be à ¢Ã¢â€š ¬Ã‹Å"quantifiedà ¢Ã¢â€š ¬Ã¢â€ž ¢ to some extent but a qualitative approach tends to value the data as à ¢Ã¢â€š ¬Ã‹Å"qualitativeà ¢Ã¢â€š ¬Ã¢â€ž ¢.à ¢Ã¢â€š ¬? (Coolican, 1993) Data Collection Within this dissertation, options for the main source of data collection include surveys and interviews, which have been selected due to the nature of the research topic and information, required to complete the report. Generally, data collection can be split into two categories of fieldwork, which is the primary data collection and desk study, which is secondary. Fieldwork à ¢Ã¢â€š ¬Ã…“The term à ¢Ã¢â€š ¬Ã‹Å"fieldwork researchà ¢Ã¢â€š ¬Ã¢â€ž ¢ refers to the methods of primary data collection used by the researcher and attention should be paid not be confused with the definition of field research as à ¢Ã¢â€š ¬Ã‹Å"the study of people acting in the natural courses of their daily livesà ¢Ã¢â€š ¬Ã¢â€ž ¢.à ¢Ã¢â€š ¬?(Naoum, 2007) This form of research can be broken down into three main approaches: Survey Case study Problem-solving approach. Experimental or observational approaches can also be used for research purposes, however, these methods require to be carried out over long periods and there is more responsibility for detailed outcomes. The survey approach à ¢Ã¢â€š ¬Ã…“Surveys are used to gather data from a relatively large number of respondants within a limited time frame. It is thus concerned with a generalised result when data is abstracted from a particular sample or population. There are two types of surveys available: the descriptive survey and the analytical survey.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“The descriptive survey aims to answer such questions as: How many? Who? What is happening? Where? And When? It deals with counting the number of respondants with certain opinions/attitudes towards a specific object. The counting can be later analysed to compare or illustrate reality and trends.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“The analytical survey aims to establish relationship and association between the attributes/objects of your questionnaire, i.e. how often an attribute is associated with another attribute within the sample questionnaire.à ¢Ã¢â€š ¬? (Naoum, 2007) Case study approach à ¢Ã¢â€š ¬Ã…“Case studies are used when the researcher intends to support his/her argument by an in-depth analysis of a person, a group of persons, an organisation or a particular project. As the nature of the case study focuses on one aspect of a problem, the conclusion drawn will not be generalised but, rather, related to one particular event. This is not to say that the case study approach is of limited value. On the contrary, it provides an in-depth analysis of a specific problemà ¢Ã¢â€š ¬? (Naoum, 2007) Within the case study approach, there are three types of case study approach, which can be utilised to provide evidence or information on the given topic. The three types are descriptive, analytical and explanatory case studies. à ¢Ã¢â€š ¬Ã…“The descriptive case study which is similar to the concept of the descriptive survey (i.e. counting), except it is applied on detailed case(s).à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“The analytical case study which is similar to the concept of the analytical survey (i.e. counting, association and relationship), except it is applied on detailed case(s).à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“The explanatory case study, which is the theoretical approach to the problem. It explains causality and tries to show linkages among the objects of the study. In other words, the researcher collects facts and studies the relationship of one set of facts to another, with the hope of finding some casual relationship between them.à ¢Ã¢â€š ¬? (Naoum, 2007) Problem solving approach à ¢Ã¢â€š ¬Ã…“With the survey and the case study approach, the researcher tends not to affect or interfere with that which is being studied. In the problem solving approach (also named action research), the researcher reviews the current situation, identifies the problem, gets involved in introducing some changes to improve the situation and, possibly, evaluates the effect of his/her changes.à ¢Ã¢â€š ¬? (Naoum, 2007) Secondary data collection Not unlike primary data collection which is taken first hand, secondary data collection is established from literature searched and as such is classed as a desk study. à ¢Ã¢â€š ¬Ã…“The most significant of the advantages of the secondary data are related to time and cost. In general, it is much less expensive to use secondary data than it is to conduct a primary research investigation. This is true even when there are costs associated with obtaining secondary data. When answers to questions are required quickly, the only practical alternative is to consult secondary sources.à ¢Ã¢â€š ¬? (Stewart Kamins, 1993) Data collection techniques Further to the decision of how data is to be collected and the method of research to be used, we are able to evaluate the best technique of data collection. Initial proposals for this research dissertation for the main form of data collection include both a quantitative and a qualitative approach. Structured interviews will be one of the highlights of the research topic, as this will source primary data from industry professionals. Postal Questionnaires are also a popular method to be considered. Postal Questionnaire à ¢Ã¢â€š ¬Ã…“The postal questionnaire is probably the most widely used data collection technique for conducting surveys. It is most suited to surveys whose purpose is clear enough to be explained in a few paragraphs of print, in which the scheme of questions is not over-elaborated. Postal questionnaires have been widely used for descriptive and analytical surveys in order to find out facts, opinions and views on what is happening, who, where, how many or how much.à ¢Ã¢â€š ¬? (Naoum, 2007) The use of postal questionnaires, have three main advantages of economy, speed and consultation, which have been outlined as follows: à ¢Ã¢â€š ¬Ã…“Economy. Postal questionnaires are perceived as offering relatively high validity of results because of their wide geographic coverage. As a result, it is more suited to assembling a mass of information at a minimum expense in terms of finance, human and other resources.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“Speed. Postal questionnaires are certainly a quick method of conducting a survey. If administered properly, the bulk of the returns will probably be received within two weeks. However, time must be allowed for late returns and responses to follow-up attempts.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“Consultation. In certain cases respondants may not have the information to hand, particularly when the questions are of a quantitative nature, and may need to consult a document or a colleague in order to give accurate answers.à ¢Ã¢â€š ¬? (Naoum, 2007) Although there also limitations to using postal questionnaires, mainly that they must contain simple questions, inflexible technique, accuracy, no control over responses and industry fatigue. à ¢Ã¢â€š ¬Ã…“Must contain simple questions. The postal questionnaire is only suitable for simple and straightforward questions, which can be answered with the aid of easy instructions and definitions. The questions should be very carefully worded and free from faults such as ambiguity, vagueness, technical expressions, difficult questions and so forth.à ¢Ã¢â€š ¬?(Naoum, 2007) à ¢Ã¢â€š ¬Ã…“Inflexible technique. Inflexible in the sense that postal mail questionnaires do not allow the opportunity for probing. In other words, the answers have to be accepted as final and there is no opportunity to clarify ambiguity or to appraise the non-verbal behaviour of respondants, though the latter can sometimes create bias.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“Accuracy. Respondants may answer generally when you are seeking a response on a specific level of analysis. People may also answer according to what they think you want to hear. They may answer according to their public profile rather than the underlying corporate reality.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“No control over respondants. This means that although you state in your questionnaire that a particular person should complete the questionnaire (such as marketing director, managing director or the site agent), there is no guarantee that this statement will ensure that the right person completed the questionnaire. However, this is less of a problem than not getting a response at all, given the fact that response rates for postal surveys usually range between 40 and 60 percent.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“Industry fatigue. Companies receive a steady stream of questionnaires and pressures of modern business mean that for many organisations and individuals, studentsà ¢Ã¢â€š ¬Ã¢â€ž ¢ questionnaires are of less priority.à ¢Ã¢â€š ¬? (Naoum, 2007) Personal interview à ¢Ã¢â€š ¬Ã…“The personal interview is another major technique for collecting factual information as well as opinions. It is a face-to-face interpersonal role situation in which an interviewer asks respondants questions designed to elicit answers pertinent to the research hypothesis.à ¢Ã¢â€š ¬? (Naoum, 2007) Using the interview technique can sometimes only be suitable if it is undertaken under certain circumstances, for example, knowing the interviewee so that you know only to ask what is important and how to ask it. Also interviewing people with the same characteristics, so that they are both looking at the question from the same perspective. Performing an interview is also essential if the questions need to be explained or described, as well as being able to probe the answers given by each correspondent, as to why that response was given or feel the way they do about a specific aspect. As with the questionnaire technique, they are some variables that need to be considered, as to the structure of the interview as these can take three forms, namely unstructured, structured or semi-structured. However, this does not mean that only one form needs to be utilised, as the interview can be a combination of all three. Unstructured interview à ¢Ã¢â€š ¬Ã…“This form of interview uses à ¢Ã¢â€š ¬Ã‹Å"open-endedà ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"openà ¢Ã¢â€š ¬Ã¢â€ž ¢ questions and the questionnaire is often pitched at a very general level so that the researcher can see in what direction the interviewee takes things in their response. It is usually conducted with qualitative research. Unstructured interviews can also be conducted at the beginning of any research (also known as exploratory interviews) when the researcher knows little about his/her subject area.à ¢Ã¢â€š ¬? (Naoum, 2007) Semi-structures interview à ¢Ã¢â€š ¬Ã…“This is more formal than the unstructured interview in that there are a number of specific topics around which to build the interview. This form of interview uses à ¢Ã¢â€š ¬Ã‹Å"openà ¢Ã¢â€š ¬Ã¢â€ž ¢ and à ¢Ã¢â€š ¬Ã‹Å"closed-endedà ¢Ã¢â€š ¬Ã¢â€ž ¢ questioning but the questions are not asked in a specific order and no schedule is used. Your task is to discover as much as possible about the specific issues related to your subject area.à ¢Ã¢â€š ¬? (Naoum, 2007) There are four characteristics of a semi-structured interview, as stated by Merton and Kendal (1946): à ¢Ã¢â€š ¬Ã…“It takes place with respondents known to have been involved in a particular experience.à ¢Ã¢â€š ¬? à ¢Ã¢â€š ¬Ã…“It refers to situations that have been analysed prior to interview.à ¢Ã¢â€š ¬? à ¢Ã¢â€š ¬Ã…“It proceeds on the basis of an interview guide specifying topics related to the research hypothesis.à ¢Ã¢â€š ¬? à ¢Ã¢â€š ¬Ã…“It is focused on the respondentsà ¢Ã¢â€š ¬Ã¢â€ž ¢ experiences regarding the situations under study.à ¢Ã¢â€š ¬? à ¢Ã¢â€š ¬Ã…“Semi-structured interviews start by asking indirect questions in order to build up a rapport with the respondent and then explore the specific issues that the interviewer has in mind.à ¢Ã¢â€š ¬? (Naoum, 2007) Structured interview à ¢Ã¢â€š ¬Ã…“In the structured interview, questions are presented in the same order and with the same wording to all interviewees. The interviewer will have full control on the questionnaire throughout the entire process of the interview. In this technique the questioning may start with some à ¢Ã¢â€š ¬Ã‹Å"openà ¢Ã¢â€š ¬Ã¢â€ž ¢ questions, but will soon move towards a à ¢Ã¢â€š ¬Ã‹Å"closedà ¢Ã¢â€š ¬Ã¢â€ž ¢ question format.à ¢Ã¢â€š ¬? (Naoum, 2007) There are three main advantages of using the structured interview method, as it allows for more accurate answers, a higher response rate and the interviewee can be probed as to why they were gave the answers, they did. Data Analysis Once all data has been collated, the process of analyse all the information begins, and again this can be categorised into three forms of data analysis, namely exploratory, descriptive and inferential statistical methods of analysis. Exploratory data analysis à ¢Ã¢â€š ¬Ã…“Exploratory research is a qualitative research and can be described as a social or organisational behaviour research which produces results that are not obtained by statistical procedures or other methods of quantification. This type of data analysis refers to research about peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s lives, their stories and behaviour, and it can also be used to examine organisations, relationships and social movements. Some of the data may be quantified afterwards, but the analysis is qualitative.à ¢Ã¢â€š ¬? (Naoum, 2007) This form of analysis, allows people to express there own views or opinions on a subject, and so is generally used to analyse the data from open-ended questions. Furthermore, by using the exploratory form of data analysis, we are able to code, similar answers into categories and record the information obtained from carrying out questionnaires and interviews. Descriptive statistics method à ¢Ã¢â€š ¬Ã…“The descriptive statistics method is the simplest method of analysis which provides a general overview of the results. It gives an idea of what is happening. The descriptive method will either analyse the responses in percentages (as in the case of a large sample) or will contain actual numbers (as in the case of a small sample).à ¢Ã¢â€š ¬? (Naoum, 2007) Descriptive statistics method can also be further categorised into three sections of frequency distribution, measurement of central tendency and measurement of dispersion. à ¢Ã¢â€š ¬Ã…“When summarising large amounts of raw data it is often useful to distribute the data into categories or classes and to determine the number of individuals or cases belonging to each category. This is called à ¢Ã¢â€š ¬Ã‹Å"category frequencyà ¢Ã¢â€š ¬Ã¢â€ž ¢. It can be presented in the form of tabulation, a bar chart, a pie chart or a graph.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“Measurement of central tendency. This type of analysis is applied when you have a group of data and you wish to find the most typical value for the group, or the score which all other scores are evenly clustered around. These statistics are known as the à ¢Ã¢â€š ¬Ã‹Å"meanà ¢Ã¢â€š ¬Ã¢â€ž ¢, the à ¢Ã¢â€š ¬Ã‹Å"medianà ¢Ã¢â€š ¬Ã¢â€ž ¢ and the à ¢Ã¢â€š ¬Ã‹Å"modeà ¢Ã¢â€š ¬Ã¢â€ž ¢.à ¢Ã¢â€š ¬? (Naoum, 2007) à ¢Ã¢â€š ¬Ã…“Many survey analyses entail the comparison of results for different parts of the sample, for example the proportion of traditional contracts that overrun on time with the proportion of design and build contracts that overrun on time. In this case one might carry out a statistical significance test of the difference between the proportions.à ¢Ã¢â€š ¬? (Naoum, 2007) CHAPTER 4 à ¢Ã¢â€š ¬Ã¢â‚¬Å" DATA COLLECTION ANALYSIS References Bouma G.D. Atkinson G. B. J (1995), A Handbook of social science research, Oxford University Press, Oxford Cresswell J. (1994), Research Design: Qualitative Quantitative Approach, Sage, London. King, M. (2009) speech to CBI Dinner at Nottingham, 20.01.2009, online at https://www.bankofendland.co.uk/publications/speeches/2009/speech372.pdf. Naoum Dr S. G. (2007), Dissertation Research Writing for Construction Students, Second Edition, Elsevier, Oxford. Stanlake G.F Grant S.J. (1995), Introductory Economics sixth Edition, Longman Group Ltd, London. Stewart, J. (2009) partnership UK statement 2009 on investmesnt Stewart D. W. Kamins M. A (1993), Secondary Research: Information Sources and Methods, Sage, London. Skinner à ¢Ã¢â€š ¬Ã¢â‚¬Å" strategy for national infrastructure 2010 Parahoo, K. (2006) à ¢Ã¢â€š ¬Ã…“Literature reviewsà ¢Ã¢â€š ¬? from Parahoo, K., Nursing Research: Principles, process and issues. Pp. 121-147, Basingtoke: Palgrave National Statistics Organisation à ¢Ã¢â€š ¬Ã¢â‚¬Å" 0.4% GDP https://www.statistics.gov.uk/cci/nugget.asp?id=192

The Economic Prosperity Of The United States Economy

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Shakespeares presentation of Shylock in the Merchant of Venice Essay Example For Students

Shakespeares presentation of Shylock in the Merchant of Venice Essay In the Merchant of Venice, Shylock is presented in many forms. The first question one must ask is whether the play is Anti-Septic or not. This enables us to see how accurate Shylocks portrayal is. In my opinion the play is not. Shakespeare displays Shylock in both positive and negative ways. In turn, during the play we are able to sympathise with Shylock and to fear him. At the end of the play we are horrified with Shylocks behaviour but can easily understand his way of thinking. This is because throughout the whole play he is abused in various ways. This is why when he does this horrific act; he is seeking revenge rather than pleasure. The play is mostly done to show the Christian prejudice at Shakespeares time. It shows the malice and hate aimed at Jews, and gives us many examples of their mistreatment. At the time of Shakespeare Jews were stereotypicalised and a certain view was upheld about them. This meant that anyone who was Jewish was automatically selfish and somewhat improper. Shakespeare wanted to exhibit this prejudice and wanted, in my opinion, for us to sympathise with him. Unfortunately, he was not able to do this entirely due to his audience at the time. In Shakespearean times, people were far more prejudice than the people of today. Unlike us, they did not know about the dangers of it and its potentially catastrophic results. You only have to look at the holocaust to see how damaging it can be. In this nearly six million Jews were killed because of this prejudice towards Jews. With this knowledge we can therefore sympathise with Shylock and see the faults within the Venetian behaviour. But, the Shakespearean people did not see this. They disliked Shylock for he was a Jew and found pleasure when Shylock was abused in the play and hated him more when he did mistakes and his terrible deeds. For this reason Shakespeare was compelled to make Shylock a malevolent character and Characters like Antonio and Portia seem on the side of good. If he hadnt though there would of certainly have been riots in the theatre and Shakespeare would have been in danger of losing his respect and many fans. If he had shown the prejudice more, it is very possible that he could have been accused of being a Jew himself. First one must look at the prejudice towards Shylock in the Merchant of Venice. One can find it very easy to pity Shylock and maybe even start to like him. This is due to the amount of unnecessary abuse directed towards him. Throughout his whole life I feel that he has not done much wrong. If you look at him closely you will see that maybe his only fault is his love for money. But, if you look more closely you will see that even this, is done for a purpose. Shylock is an extremely religious man. A person that basically lives his life on how his religion tells him to. With this, Shylock applies all his actions due to what it says in the Torah and his holy books. Therefore, when it quotes in the Old Testament your wealth is a sign of your goodness, Shylock applies this. He makes his ambition to stay wealthy for it means he is in the favour of God. Shylock therefore is very dedicated to staying wealthy and increasing his wealth. This gives the Venetians a reason to dislike him, when really in my opinion they mostly hate him for the religion he obtains. Now let us look at some examples of this prejudice. When Antonio goes to Shylock in search of money him and Antonio are very offensive to him. Shylock is discussing whether he should give the money or not and Bassanio suggests they talk over it during dinner. One might think this is a harmless or even generous gesture nut it is far from it. With Shylocks vast experience with prejudice, he recognises that they will insult him if he eats with them and offend them. He identifies that they will eat pork in front of him which is a meat forbidden to the Jews. He calls pigs, the meat of the devil and if he was to eat with them they would be sure to make malicious jokes and laugh at him. To smell pork; to eat of the habitation which your prophet the Nazarite conjured the devil into. Then Antonio enters the room and Shylocks understandable hate towards the Christians becomes apparent. He has been so insulted and wounded by the Christian society that now he has completely given up on them and is prejudice towards them. I hate him for he is Christian. He goes on further bringing forward the hate shown to him by Antonio. He recognises how Antonio hates him and all Jews. He hates our sacred nation. Prejudice like this causes us to sympathise with Shylock. It also gives us a sense that maybe he is hated for being Jewish rather than for his personality. After further talking between Shylock and Bassanio, Shylock comes up with a speech, which causes you to sympathise with him. He says how Antonio has always abused and insulted him, calling him names like cut throat dog. Shylock speaks of how Antonio has scolded him towards his money dealings and how he has always put up with it. Then, he finishes off by saying; with all these courtesies Ill lend you thus moneys. This sums up how Shylock has been treated, and how he has been treated so badly. Antonio insults him yet wants Shylock to be kind and generous to him. Antonios following speech solidifies how he has mistreated Shylock and increases our commiseration towards him. One would expect a man to deny such accusations from Shylock or at least apologise for his actions but Antonio does not. Instead, he admits to his actions and goes on further to say that he will do it again. I am as like to call thee again, to spit on thee again, to spurn thee too. This statement forces you in a way to feel for Shylock. This next section, in my opinion, produces a large amount of sympathy towards Shylock. Jessica betrays shylock and runs away from home to marry a Christian. This hurts Shylock in two ways. The first is that she betrayed his trust and the second, that she betrayed her religion. Perfectly Imperfect: The Shakespeare Story EssayDuring the trial, Shylock is continually asked to be merciful and take the money. The duke tells him to sympathise with Antonio. Pluck commiseration of his state. In actual fact, if you were to be in Shylocks shoes, is it possible to sympathise with Antonio, your mortal enemy who has and always will mock you? Even beforehand, Antonio realises there is no point in reasoning with Shylock as he recognises the pain he has caused Shylock to suffer. Furthermore, I think Antonio sub-consciously knows he deserves what Shylock wants to do to him. Moreover, despite this, I think this is the point that some may find hard to stay sympathetic towards Shylock. His desire for revenge becomes too great and it becomes difficult to see a person within Shylock. This is no to say though that you cannot. If you were to take my opinion towards Shylock I would say that he has been taunted and hurt so many times by the Christians that he has become psychologically broken. As he has not been able to let out all his emotions, over the years his hate has expanded up to a point where now he has become a monster. A monster created by the Christians and not by Shylock himself. During the court he repeats five times Ill have my bond. It is obvious from this example that he is a mentally wounded man, driven by hate and anger. So from this, I find it very easy to understand his malevolence but less to sympathise with it. An Elizabethan audience would have been horrified at his behaviour and Shylock would have definitely been thought of as spiteful but once one has learnt to understand a person, you can get a better view of them. Hypocrisy, I think is the big issue here. Whilst Shylock is preparing to take his pound of flesh, they ask for mercy many times and call him a wolf. They even insult him while pleading for mercy. This is quite ironic. Launcelot claims that if there were more Jews converting to Christianity, the price of pork would increase, as more people would be able to eat pork. Shylock is asked why he wont be merciful and he answers it with a question of his own. He asks the Christians why they have slaves and treat them as asses. When they do he says, he does not tell them not to or ask why. He tells the Christians why should he be merciful, when they are not. When there seems to be no hope, suddenly Portia enters the room dressed as a man to replace the defence lawyer. She explains how mercy is a positive virtue and if God was not merciful no one would enter heaven as we are all sinners. Still Shylock refuses to be merciful and asks for his bond again. Bassanio asks her if they may change the law claiming little wrong can do much right. Portia refuses to do this though. Instead she offers thrice the money to Shylock more than once but he refuses it still. Quite a lot of Sympathy for Shylock is lost at this point and more so when he refuses to let a surgeon stand by, meaning he would like Antonio to die. This is a very sinister act. His joy does not make help with his sympathy either as Portia announces he may cut the flesh. Most learned judge! A sentence! Come, prepare! As he is about to cut the flesh though Portia then states one last thing. She tells Shylock that the bond contains no jot of blood. Therefore if Shylock were to spill a drop of blood all his land and goods would be confiscated. She reads from the Venetian script and reads out that if thou shed one drop of Christian blood he will be punished. Here the law is being used against him, as he is a Jew. The law even states one may not drop a jot of Christian blood, no Jewish. Even the Venetian law is prejudice. The law is weighted with religious bias. It is as if Being Jewish declines one of all ones rights. The law now is being used against Shylock rather than with. He has relied on it throughout the trial but now it is his enemy. He then decides to take the money instead in fear of losing his possessions but Portia tells him he must take the bond. In the end he does not take Antonios flesh or the money but that is not all. The law states that if an outsider were to attempt to kill someone half their possessions would go to the state and the other to the person they attempted to kill. In this situation he is labelled an alien due to his religion. Now is the crucial point. Since the Christians had begged so much for mercy shouldnt they show it now? They do not though and Instead Antonio gives him another choice. It is that half the money should go to Portia and so should the other when he dies. Not only this but he must convert to Christianity. He is forced to take this offer and reaches complete public humiliation. Gratiano even makes him kiss the cross and the broken man has just shattered. One point one must think about though is the amount of mercy the Christians showed. Do you think what they have done is fair or are they just hypocrites? As a conclusion, Shakespeare in my view has put the whole Jewish society in this one man Shylock. He is trying to manifest the idea of Jews being prejudice against. I some places he is unable to do this because of his audience but overall that is the point he is trying to raise.

Philosphy In Religion Essays - Fictional Cyborgs, Action Heroes

Philosphy In Religion Ian Rassel Mark Tjarks 11-30-98 The Descent into Dark We live in a society, which relies on fairy tales and mythology to entertain and take us off to a far away place where we can identify with our imagination. The Star Wars trilogy is a classic example of the hero cycle. A young man is brought up believing the light side of the force is his destiny. It has an old warrior, which teaches young Luke an ancient craft that has been used for centuries to battle evil. Luke is told about his father and how he was a great Jedi Knight, how he was killed by a man named Darth Vader, but fails to tell him that the fate of the galaxy lies on his shoulders. Luke grows wise but still cocky and bull headed much like Oedipus Rex. Young Luke Skywalker sees his mentor get taken down by the same man who killed his father thus giving birth to his inner dark side. He is yet to see the need for a balance of the two forces. Luke develops many friendships and is forced to choose whether or not he wants to complete his training with his new mentor Yoda, or watch his friends die in trying to defeat the Empire and Darth Vader. He ignores all that he was taught by Obi wan and Yoda and decides to take his destiny in his own hands and confront Vader and save his friends. In doing this rebellion to the light side of the force, Luke can now feel the power of having the light side and the dark. During his battle with Vader, Luke can see that there is a transformation of the villain. What was once a cold and dark character, Lord Vader now has a compassion for his son. Though Luke is blinded and stubborn for the light side of the force, is actions are now balanced between the two forces. Vader now starts to see compassion for his son, who is forced to do battle not by his own will. Vader then offers an ultimatum for his son who is to join with him to defeat the emperor and rule the universe. Luke denies his father and descends into his own darkness when he finds out Vader is his father, this symbolizes the death period in the fairy tale. The resurrection of Skywalker in Return of the Jedi shows that Luke realizes that he has the power to defeat the Emperor and maybe bring back his father to the light side of the force. When he confronts his enemies, Luke almost makes the decent into the darkness as he battles his father. He realizes that the rage that is controlling him is the dark side. Luke stops the battle after he sees that Vader's chopped hand is just like his own and he knows the two are both alike. Luke can see that he will soon become just like his father. As the aggravated Emperor starts to kill Luke, Vader goes through his own resurrection. With this compassion for his son, Lord Vader throws the Emperor to his death. Saving his son showing us that there is still good in him. The light side of the force is not completely out Vader. The cycle that these characters in the story Star Wars take, is a life-death cycle. They choose between which side of life to live. Campbell's idea that both the light and dark side is in a way diseased shows that a balance must be present. The light side is constantly in control and more of a thanatos way, whereas the dark side is in chaos and an eros view. The balance between the two is cyclical approach to life. There are ups and downs to everything of nature. As Yoda said, ?there is no try only do.? A true jedi must confront the dark side of the force in order to see what the light side has. Philosophy

Halfords Plc in the UK motor industry

Introduction The aim of any business is to make profit, which implies that the business should implement its strategies in order to increase sales. The managers of any company should ensure that the profit margin remains high by ensuring that competitive strategies are identified and implemented.Advertising We will write a custom report sample on Halfords Plc in the UK motor industry specifically for you for only $16.05 $11/page Learn More Selling in a business enterprise is not a simple task and therefore businesses require strategies that promote and maintain sales. Making successful deals is an important sales strategy that most companies strive to achieve in order to maximize profits. Halfords Plc Halford is a leading UK company that deals with automotive products and other leisure products that involve motor vehicles (Halfords 2010). As the leading company, Harford not only requires maintaining its sales but also influences in the market. The compan y has to work towards retaining its clients even as well as focus on reaching out new clients. This paper, therefore, presents a report on an important strategy that is applied by Halford Company in its effort to maintain market leadership and boost its profit margin. As the market leader in the UK motor industry, Halfords aims at maintaining its influence in the industry through production of ultimate brands. The brands are very important in the creation and maintenance of market influence and therefore Halford has taken all possible measures to ensure that it has strong influence in the market through creation of well-established and strong brands. From the analysis, it was established that Halfords has a well-developed market that includes the United Kingdom and the republic of Ireland (Halfords 2010). When the two-market zones are compared, the UK market is the most preferred since it was the initial market in which the company sold its products. In order to maintain and develop the market the company has established several stores and outlets where the customers can obtain products. In addition to the marketing outlets, the company has an interactive website where it advertises and sells its products.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company has a good influence in the market and implement its marketing strategies through concentrating on its retail market for establishment of its brands. A brand is the property of a product that customers use to identify products of a company or what customers associate with the given products of a company. Halfords has well established brands that are accessible to all the customers. Therefore, brands of the company are elements that customers associate the company with (Barwise 1992). Halford has several brands depending on its customers and they are important in maintaining the company’s performance in the market. The services provided help the company to reach its customers and they are therefore the first brands of the company. For the services of the company to achieve the level of a brand they have to be unique. The company therefore ensures that it offers services that attract as well as retain the customers. The company considers providing high quality services to ensure that customers associate themselves with the company. The company offers high quality car maintenance as its first service to its clients. In order to achieve this objective the analysis found out that the company has well trained staff. The company also provides vehicle maintenance according to the manufacturer’s specifications, which complies with the required safety measures. Car enhancement is the second service provided by the company to its customers through its network of outlets in the UK and the republic of Ireland. The car enhancement service provided by the company is not only a general enhancement service as provided by other competing firms, but also a brand through which its customers identify the company (Aaker 1991). Its customers therefore recognize the company for the high quality enhancement service that it offers. From the analysis it was verified that Halfords offers enhancement services that correspond the customers’ requirements and specifications. The enhancement services provided by the company not only meet the required quality and standards but also consider the fashion requirements of the customers. The fashion industry is dynamic and changes often and therefore the company ensures that its enhancement service complies with the current fashion trends (Brady Davis 1993). The Harford’s car enhancement services are the usual services and the customers use them to know about the company.Advertising We will write a custom report sample on Halfords Plc in the UK motor industry specifically for you for only $16.05 $11/page Learn More It was also established that customers identified the company through the car enhancement services that it offered in its outlets within the two countries (Christopher 1992). Customers of the company are driven by the need for leisure, which makes the company take this as a priority. It offers leisure products as well as leisure services through its network of outlets. Leisure products provided by the company include cycling products and equipment, camping products and child safety products. These are some of the products offered by the company to its customers for leisure. The customers do not consider these as common products since through these products they are able to know more about the company. In addition, the customers of the automobile industry associate the company with the high quality leisure services and products it offers (Ballantyne, Christopher Payne 1991). Finally, the company offers car servicing to its customers through its large network of outlets in the two countries. The car servicing offered by the company includes car maintenance and repair. Halford vehicle maintenance services are of high quality and they have influence on the customers who use them all the time (Hout Stalk 1990). The customers consider the quality services offered by the company as brands through which they identify the company. The customers also use the high quality services to associate themselves with the company and inform other people about the significance of using them for the first time. From the analysis it was found that in order to maintain market leadership Halford capitalizes on its products and services to create strong brands which are known by all the potential customers (Lamming 1993). Conclusion Halford is a market leader in the UK market for the production of automotive products and services. The company maintains leadership in the market in terms of satisfying its clients and maintaining high profit margin through its ef fective strategy that depends on its products and services. The company has well established brands that the customers use to identify the company and its products.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The customers also use the brands to associate themselves with the company in the competitive motor vehicle industry. Halfords uses its high quality services and products as brands in order to enhance its market leadership. The high quality services and products provided by the company form strong brands that the customers use to associate themselves with the company. References Aaker, D 1991, Managing brand equity, The Free Press, New York. Barwise, P 1992, Brand portfolios, European Management Journal, vol. 10, no. 3. Brady, J Davis, I 1993, Marketing’s mid-life crisis, The McKinsey Quarterly, No. 2. Christopher, M 1992, Logistics and supply chain management, Pitman, London. Ballantyne, D, Christopher, M Payne, A 1991, Relationship marketing. Butterworth Heinemann, Oxford. Halfords, 2010, The UK ROI are our core markets. Halfords continues to grow market share in attractive markets and, through its unique service proposition, differentiates itself from its competition, W eb. Lamming, R, 1993, Beyond partnership: Strategies for innovation and lean supply. Prentice-Hall, Englewood Cliffs. Hout, T Stalk, G 1990, Competing against time, Free Press, New York. This report on Halfords Plc in the UK motor industry was written and submitted by user Kason W. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Julius Caesar Essays - Cultural Depictions Of Julius Caesar

Julius Caesar Essays - Cultural Depictions Of Julius Caesar Julius Caesar In Shakespeare's Julius Caesar, Decius Brutus and Mark Antony, both Roman Senators, eulogize Julius Caesar, each using a different technique and approach. Brutus, in a somewhat arrogant, to the point, eulogy, attempts to sway the people. He justifies conspiring against Caesar by stating that Caesar's ambition would have hurt Rome. However, in Antony's eulogy, he focuses on Caesar's positive traits, and cunningly disproves Brutus' justification for killing Caesar. The fickle Romans waver between leaders, responding emotionally, rather than intellectually, to the orators. Brutus seeks to explain why he conspired against Caesar. He begins his speech with "Romans, countrymen ...", appealing to their consciousness as citizens of Rome, who, he later says, will benefit as freeman with Caesar's death. This shows that Brutus knows how to lure the crowd, appealing to their better judgement as Romans. He declares that he is an honorable man, and tells them that he will let them judge the validity of his claims. That is, he will allow the truth to speak for itself. This encourages the crowd to believe him, as an honorable man. He says that he wants them to know the facts; "Censure me in your wisdom, and awake your senses that you may the better judge." Sharing information with the people is flattering and it almost guarantees acceptance. He gets their sympathy by saying that he loved Caesar, daring the people to find anyone who loved Caesar more. Brutus declares that he never wronged Caesar, that he cried for Caesar's love, was happy for his greatness, honore d him for his courage, but had to kill him because of Caesar's ambition. He says that the reason for killing Caesar was his great love for Rome. He justifies his actions by saying that he loved Caesar but, "Not that I loved Caesar less, but that I loved Rome more." He then asks rhetorically if the people would want to live their lives as slaves under Caesar's rule or would they prefer to live as freemen with Caesar dead. To anyone insulted by his speech he wonders if, as Romans who love their freedom, they could be offended or reject what he, Brutus, says. He poses the question, "Who is here so base that would be a bondman?" He stresses the point, repeating the line, "If any, speak, for him have I offended." "I pause for a reply.", allows them to respond to his rhetorical questions, giving them an even greater sense that he cares about them and their opinions. They can only respond, " None, Brutus, none." That is, none are offended, they do not disagree or argue with his words or his actions. Mark Antony's eulogy utilizes a different approach. He starts out by addressing the crowd as "Friends" because he wants to come to them as a friend rather than a ruler trying to gain power. He then says, "I come to bury Caesar, not to praise him.", thus he can ease in praises of Caesar without the crowd stopping him. He sounds very sincere when he says, "The noble Brutus hath told you Caesar was ambitious.... For Brutus is an honorable man." He repeats that statement three more times becoming increasingly sarcastic, saying finally, "Yet Brutus says he was ambitious, and sure he was an honorable man." Since the people responded positively to Brutus' speech, Antony could not insult Brutus' honesty in a direct manner. Yet, Antony disproves Caesar's ambition with three examples. One is when he gave the ransom of captives to the public treasury and not his own, another when he cried with the poor people, and finally when he refused the kingship that Antony offered him, three times. Anyon e who was ambitious would never have done any such things. Antony says, "I speak not to disprove what Brutus spoke." , but that is exactly what he does. Antony is using a dramatic effect on the people, first by entering on the stage with the body of Caesar, and at the end stating that his heart is still with the body of Caesar, ending his speech weeping. In justifying Caesar and disproving Brutus, the people see Antony as a potential successor to Caesar. They are swayed to him by his dramatics,

A Person as the Property Speech or Presentation

A Person as the Property - Speech or Presentation Example According to the research study today, slavery today is illegal and is abolished by many countries around the world as they consider the act barbaric and overtaken by time. The international laws and treaties including domestic laws in the individual countries consider the trade illegitimate and recognize it as abuse of human rights. Slave trade has done more harm than good ultimately, a part from denying people their rights as enshrined in the constitutions, and it has also deprived the society of able population culminating into loss of artisanship and abject poverty in the zones.This essay stresses that  slavery started long time ago with several slave dealers scattered all over the world especially in Africa. The few rich dealers in slavery organized for the capturing of able-bodied people, which were then taken to the market for purchase by the merchants. Slaves were captured in a brutal exercise that left many people maimed and killed. The villages were deprived work force si nce there was extraction of those who could economically improve the status of the society. The slaves were then assembled in designated areas that were used as markets through which the prospective buyers met the sellers. After the purchase, slaves would be taken to diverse areas where demand was rife, for instance, others would be taken to US, Europe, Asia et cetera.  The sultanate that was based in Zanzibar abetted the trade and these made most of the population from the region to be taken to the Middle East as slaves.... The system of capturing slaves both in the Arabic world and in the rest of the world remained more or less the same. Most of the slaves that were captured by the Middle East traders though were largely drawn from Mediterranean, Turkic, and Persians (Marmon 113). This trend also spread to other parts of the world and reached African continent as a new area for acquisition of the slaves. Following the establishment of the Omani rule in Eastern, part of Africa became a factor that accelerated slavery in the region. The sultanate that was based in Zanzibar abetted the trade and these made most of the population from the region to be taken to the Middle East as slaves. The Portuguese and the Europeans who also had interest in the same region did not welcome the establishment of the rule along the East African coast led by the Arabs. Because of the trade related issues, there arose a commercial conflict between the two dominant groups, the Portuguese and the Arabs; this led to a series of wars that emerged between the rivaling groups owing to the control of slave trade along the East coast. It is estimated that by the time the slave trade was abolished, approximately 18 million Africans were transferred to the Middle East where they were placed under bondage (Marmon 124). Some of the prominent people that stood out due to slave trade from the Middle East were Tippu Tip. He was one of the most known slave dealer who transferred million of slaves a cross the Red sea, the Sahara desert, and the Indian Ocean (Pipes). History also reports that the Arabs also enslaved some of the Europeans and about 1 million in relation to this were captured and placed under bondage in the Arab world. With the