Transitional Justice Is Necessary For A Nation - 2574 Words

No nation has ever started off with a clean sheet. Even some of the great nations had issues along the road of their growth. For example, when the United States first form of a government system was the Articles of Confederation, prior to the democratic form of government we have now. It is why I argue upon the basis that transitional justice is needed in order for a nation to function properly. Two nations that went through a major transitional justice change are Rwanda and Argentina. Transitional justice are judicial/non-judicial methods implemented in order to restore acts against of human rights abuses. Such methods consist of criminal prosecutions, truth commissions, reparations programs, and numerous kinds of institutional†¦show more content†¦Furthermore, to satisfying these needs, the states have responsibilities to guarantee that the violations will not occur again, so a special obligation to modify institutions that were involved in the violations and were incapabl e of preventing the acts against human rights. A past of ignored human rights violations is more than likely to cause social conflict in the later future. Results can consist of distrust between social groups and institutions of the state, and the decrease of national security and specific goals. Then questions about rule of law surfaces, which can lead to an endless cycle of human rights violations in various forms. Based on what has been seen in countries effected my human rights violations, the feeling of justice was never present, according to the victims. Victims began taking matters into their own hands in order to protect what they held there to themselves. For example, the genocide in Rwanda and the Trials of Juntas in Argentina. From April to July 1994, members of the Hutu tribe, who thrived in the east-central African nation of Rwanda, murdered approximately 800,000 people, a majority of them natives of the Tutsi tribe. It began with Hutu extremist in the capital of Kig ali, the genocide spreading throughout Rwanda at drastic speeds. Regular citizens were encouraged by Rwandan local officials and the Hutu government to bear arms against their own

Privacy Rights An Analysis Of Software Essay - 2424 Words

Privacy Rights: An Analysis in Software Technology is currently changing our privacy in the digital age and the implications that has for our private information. The digitization of our life plays a major role in how much privacy we should expect. The digital era has brought new technology to collect, store, and analyze data all with the click of a button. This means that our data is not as private as it used to be when technology was not storing our data. Having something public means something completely different than it did 20 years ago. Today, all of our information is available publicly online and to a wider audience than ever before. With this exponential increase in technology, many have been looking This essay hopes to explore a multitude of different ways one privacy can be compromised, such as hacking of companies or web tracking. It will also examine ways to protect one’s privacy. Technological innovation bring with it new challenges and questions about privacy in a landscape dominated by increased sof tware use around the globe. Defining Privacy To understand how much privacy, we have, it is pertinent to define privacy as it has a multitude of connotations and different meanings. It can be hard to exactly pinpoint what privacy entails. The first definition of privacy that has similarities to how people feel about privacy today was written in 1890. They believe that privacy was simply â€Å"the right to be let alone† (Samuel). This definition, though, has a fewShow MoreRelatedPrivacy Rights : An Analysis Of Current Technology And Software Essay1801 Words   |  8 PagesPrivacy Rights: An Analysis of Current Technology and Software Technology is currently changing our privacy in the digital age and the implications that has for our private information. The digitization of our life plays a major role in how much privacy we should expect. The digital era has brought new technology to collect, store, and analyze data all with the click of a button. This means that our data is not as private as it used to be when technology was not storing our data. Having somethingRead MoreInformation And Technology Has Changed Over The Past Few Decades1026 Words   |  5 Pagesor online databases. Although this development makes people’ life more convenient, it raises a controversial issue about privacy protection. Many people have agreed that the producers of those digital devices should protect the privacy information stored on their customers’ devices. However, recently, there has been a case in which the FBI requested Apple Inc. to build software that allows them to break through the security of the IPhone so t hat the FBI can look for information about terrorists fromRead MoreChallenges Faced With Big Data1731 Words   |  7 Pagesin big data and benefits are also real but still some challenges like scalability, heterogeneity, integration, privacy, security etc. need to be addressed for realizing full potential of big data. One of the major challenge is transformation of unstructured data to structured form for accurate and timely processing. Challenges with big data starts with very first phase of big data analysis pipeline that is data acquisition phase. It’s a challenging task to determine what data to keep, what to discardRead MoreForensic Investigation On The Criminal Justice System1186 Words   |  5 Pagescriminal evidence and facts that are to be analyzed and later used in the criminal justice system. It is a broad field that encompasses major professional organizations that helps in combating crimes through the provision of forensic labs where the analysis of investigati on is carried out. The forensic criminal investigation agencies are mandated with the collection of evidence from crime scene and later analyze for use the criminal justice system. However, there are forensic procedures used to collectRead MoreSoftware For Business Efficiency At The United Kingdom1667 Words   |  7 PagesSoftware for Business Efficiency Generally speaking, how many times have you been to a restaurant and had gotten upset at the lack of service? In the United Kingdom they are revolutionizing the restaurant industry, by adding or changing several different concepts and they have even gone as far as introducing newer technology in the industry in attempt to better the customer experience. The things they have implemented into the industry are great ideas and do work, however, there is a gap in theirRead MoreThe Health Insurance Portability And Accountability Act ( Hipaa )1171 Words   |  5 PagesIn the mid-90’s, the internet and various advanced technologies were an unescapable part of everyday life. The World Wide Web, computers, and software became common place fixtures in any business or health care related profession. While these advances increased workplace efficiency and the ease in which one could access company and patient information, it opened organizations and individuals up to security breaches a nd unsecured information. Overall, these developments brought to light the need forRead MoreIntergraph Corporation : An Supplier Of Building And Geospatial Software Essay1645 Words   |  7 Pages â€Æ' Intergraph Corporation: Intergraph is a main worldwide supplier of building and geospatial software that empowers clients to imagine complex information. Organizations and governments in more than 60 nations depend on Intergraph s industry-particular enterprise software to sort out inconceivable measures of information and imbue the world with insights to bring about a significant improvement, more secure, and more brilliant. The organization s product and administrations engage clients toRead More Essay on Internet Privacy - Invasion of Privacy on the Internet964 Words   |  4 PagesInvasion of Privacy on the Internet       Invasion of privacy is a serious issue concerning the Internet, as e-mails can be read if not encrypted, and cookies can track a user and store personal information. Lack of privacy policies and employee monitoring threatens security also. Individuals should have the right to protect themselves as much as possible from privacy invasion and shouldnt have to give in to lowered standards of safety being pursued by the government.    EncryptionRead MoreArtificial Neural Networks And Predictive Policing1403 Words   |  6 Pagespolicing? I will be arguing that the use of neural networks is not fair to people because of the fact that it is fed with biased data, it violates human’s rights, and it does not have the same influence on different classes of people. Can an analysis be accurate if it is produced based on partial data? Can a prediction be just if it violates people’s rights in the first place? Can neural networks be fair if people are treated differently based on their social status? My answer to each of these questionsRead MoreRole Of The Health Information Manager1528 Words   |  7 Pages Capstone Paper Luz Renteria Goodwin College June 27, 2015 The role of the Health Information Manager Health Information managers oversee and guard patient health information. Managers represent the patient’s in matters of privacy and security, information release, issues and guidelines regarding record access, and general public education about personal health records. They specialize in managing patient health information and medical records, administering computer information systems, and

The Political Of Political Science Essay - 2347 Words

Introduction: According to Aristotleâ€Å"Man is by nature a political animal and he only by nature and by mere accident is without state is either above humanity or below it† Political science is ultimately related with the word politics which is derived from the Greek word â€Å"Polis†.The origin of political thought in the west and therefore goes back to the Greece.Political science is the study of the state and the government.And political philosophy is considersd to be a sub discipline of political science.However it is a political theory,a discipline which has a closer methodology to the theoretical fields in the social sciences.So,political philosophy is the study of topics such as politics,liberty,justice,rights,property,law and the enforcement of a legal code by authority.(Agarwal,2013) In short political philosophy is the activity with all the philosophers such as Plato,Aristotle,Machiavelli,KarlMarx,JohnHobbes,Locke,Rousseau whereby the conceptual apparatus behind such concepts as afore mentioned are analysed in their history,intent and evaluation.Political philosophy has been practiced for as long as human beings have regarded their collective arrngements no as immutable and part of the natural oder but as potentially open to changes and therefore as standing in need of political justification.It can be found in many different cultures and has taken a wide variety of forms.There are two reasons for these diversity.First the methods and approaches used by by politicalShow MoreRelatedPolitical And Political Theories Of Political Science858 Words   |  4 Pagesprior experience in politics before achieving the seat they now hold. Many of these politicians have backgrounds in Political Science that gave them the knowledge to pursue politics. Political Scientists st udy the origin, development, and operation of political systems. They research ideas that will help them analyze government policies, trends and other political issues. Political Science is a highly competitive field that requires many skills to achieve a job within the industry. However, once theRead MorePolitical Science And Political Philosophy Essay3559 Words   |  15 PagesIntroduction Political science is a an academic discipline. It is a part of social science which discuss about government and politics. It generally analyses the methods and policies of government. It is the systematic and analytical study of political and government institutions. The procedure and process of governmental policies is explained in political science. In order to define and analyze political science many political thinkers have given different theories. They practiced political scienceRead MorePolitical Science2439 Words   |  10 Pagessystem in the civil service. In 1887, Woodrow Wilson’s â€Å"The Study of Administration† revolves around the team of professionalizing the bureaucracy by separating administration from politics and prescribing what he termed as an approach towards the science on administrative practices. This dichotomy of politics and administration was acknowledged several years later, in 1926, in a book by Leonard White entitled â€Å"Introduc tion to Public Administration.† Frank Goodnow made a further elaboration of thisRead MoreEssay on Political Science864 Words   |  4 Pagesvalidity of Political Science being an actual science. Furthermore, there are opposing viewpoints between political science scholars as to the discipline being a social science or a synthesis of natural and social science. One such academic; Charles Merriam asserts that political science has the characteristics of both sciences, because it adapt the study of human behavior to provide an analysis of political institutions. Political scientists in theory espouse the notion that political science borrowsRead MorePolitical Science Reflection836 Words   |  4 PagesPolitical science is a broad topic. I started the course by reviewing the basics of the constitution, which includes the history. My first year at the University, one of the compulsory subject that is required for arts taking students is Political Science 1101. It’s been a long time since i took any social or political course. Taking this course opened my knowledge towards politics and the political scene, taught me about how different ways of taking informations could lead to one learning differentlyRead MorePolitical Science And Its Foundations1836 Words   |  8 PagesPolitical science is the study concerned chiefly with the description and analysis of political and especially governmental institutions and processes, according to the Merriam Webster Dictionary. Overall, political science and its foundations as a whole, is the study of the governments, their characteristics, and all that they stand for, the citizens and their role in our country’s political system, and all the processes and documents involved in running our country. All governments are unique inRead MorePolitical Science Of Political Sabotage Or Dirty Plans Essay1719 Words   |  7 PagesRatf**ked is a term used in political science to describe political sabotage or dirty plans. David Daley, in his book of the same name, describes Republicans incentives in 2010 to take control of state legislatures and control congressional redistricting processes. Republicans were then able to take redistrict in favor of a republican controlled congress being elected. This plan was entitled The Redistricting Majority Project or REDMAP (Daley 2016). After the 2008 election, the future of theRead MoreThe Philosophy Of Political Science1799 Words   |  8 PagesOhlone College The philosopher, Thomas Hobbes, started out with the philosophy of political science while on his trips and visits neighboring countries outside of England to listen to other scientists discuss and learn about different forms of government. While studying, Thomas Hobbes wondered about why people allow themselves to become ruled by the government and would be the ideal form of government best for England. He answered that questioned by stating that since people wereRead MoreThe Study of Political Science2262 Words   |  9 PagesIn the study of political science it is important to understand how people think and why they think that certain way. This affects the priorities of problems they have and would like resolved by government officials. There are many factors that can attribute to what people want before other problems and what are the main concerns of those people based on geographical area, ideology, and even religion. The question posed for my research is How ca n a government official such as a senator know whatRead MoreEssay on Political Science1406 Words   |  6 Pages1) Which of the following constitutes an element of the United States’ national political culture? The rights and liberties citizens have 2) No political belief has been more widely held across social groups and generations in the United States than ________. individual liberty 3) The Declaration of Independence asserts the primacy of the principle of ________, that â€Å"all men are created equal.† equality 4) The fastest growing ethnic group in the United States

Disney vs. The Future of Men Free Essays

Thesis: The constructs of masculinity found in most Disney movies create an environment of images that shape and define what young boys view as masculinity. By presenting sexist relationships, physical expectations, and violence and dominance to represent power, young boys are left feeling emotionally unattached and physically inadequate. How many Disney movies did you see as a child? How many of those movies did you watch over and over again? And how many of the songs you so lovingly watched over and over again can you still sing today? The Walt Disney Company has been a powerful force in creating childhood culture all around the world. We will write a custom essay sample on Disney vs. The Future of Men or any similar topic only for you Order Now Disney’s massive success is based on images of innocence, magic and fun. Its animated films in particular are praised as wholesome family entertainment. These movies are endorsed by teachers and parents, and are obviously immensely popular with children. The fun and innocence may have its value, but it is important to understand how these movies are representing the moral characteristics that the children viewing them will eventually grow up to represent themselves. Most alarmingly is the representation of masculinity throughout many classic Disney movies such as Mulan, The Lion King, and Beauty and the Beast. These movies are presenting masculine complexes to young boys all over the world, giving them distorted images of what it means to be a man, and also how to relate to women. What is most dangerous about the way Disney movies represent masculinity is that the process is not a quick one. The means in which the media influences the way we think is less immediate, and has a much less straight forward impact on the way we think. Disney movies in particular create a certain environment of images that we grow up with and eventually become used to. An example of such a group of images is the constant representation of the male body in Disney movies as buff, and chiseled. After a while these images begin to shape what young boys know and what they understand about the world around them. This is not an immediate effect, but instead a slow accumulative effect that is much more subtle than we are aware of. One of the biggest problems with this process is that the Disney conglomerate has spanned over nearly five generations, so no one thinks to challenge the idea that an animated Disney movie is a great way to entertain children while simultaneously sharing with them a piece of traditional culture. One of the most destructive ways in which classic animated Disney movies are providing young boys with false and distorted images of masculinity, are the ways in which men are shown in relationship to women. Most Disney movies revolve around a heterosexual relationship containing a hero and heroine. Feminists have studied what these characters tell girls about themselves, but it is just as important if not more important to understand what these movies are telling boys about how real men interact with and treat women. Often the message to boys both explicitly and implicitly is that men should view women as objects of pleasure or as servants to please them. A perfect example of this misrepresentation is in the movie Mulan. In Mulan, and entire song called â€Å"A Girl Worth Fighting For†, explains what a man is looking for in a woman. Some of these traits include cooking, cleaning, and looking beautiful for her husband. This quote from the song shows exactly what type of sexist characteristics are represented in Mulan. â€Å"I want her paler than the moon, with eyes that shine like stars, my girl will marvel at my strength, adore my battle scars. I could care less what she’ll wear or look like, it all depends on what she cooks like† Another highly destructive construct that Disney movies present to young boys is the representation of the male body. Disney movies glorify one particular body type above all others. Chiseled abs, a barrel chest and massive arms are typical of a male Disney character. Men with any other body type are generally viewed as outcasts, weak or subservient. One of the most extreme examples can be found in â€Å"Beauty and the Beast†, where the contrast between the powerful male heroine figure, Gaston and his sidekick, LeFou is undeniable. The song entitled simply, â€Å"Gaston† is entirely dedicated to glorifying Gaston’s manly physique and strength. In contrast to this, LeFou is shown as short, chubby, and bucktoothed. In â€Å"Mulan†, when Mulan attempts to join the Japanese army by passing as a man, she is taught very quickly that masculinity is defined by strength and physical ability alone. In the song, â€Å"I’ll Make a Man Out of You† Mulan is taught that in order to achieve true manhood she must overcome strictly physical obstacles and challenges as opposed to any emotional ones. Other movies such as â€Å"Hercules† and â€Å"Tarzan† depict their main characters as buff, muscular men, with almost super human strength and ability. While Tarzan surfs tree branches and swings from vine to vine with ease that can be compared to an Olympic gold medalist, Hercules lifts giant boulders, and sleighs a three-headed mythological beast. Though the aspect of fantasy plays a role in these movies, the take home message is that characters like Tarzan and Hercules are men to be admired, imitated and idealized. Not only do most Disney movies glorify their characters bodies but also the level of violence and dominance they exhibit. Masculinity in relation to violence and dominance is very clear in most Disney films. Not only is the victory of a battle glorified, the unwillingness of a character to fight is often shown as pitiful or weak. An example of such an instance is in the animated movie, Beauty and the Beast. In a scene where Gaston has beaten the beast to the ground he exclaims, â€Å"What’s the matter beast? Too kind and gentle to fight back? † This is prime example of how movies such as these are teaching boys that violence is the answer, and that any challenge to that idea is thought of as weak or emasculating. The climactic scene in most films is a battle between two men. A violent battle to win the love of a woman or maintain pride and status is the most important scene in establishing which of these characters is the â€Å"better† man. There are two major problems with this idea. First, that boys are being taught that dominance and violence is something to strive for and respect. Second, that these types of behaviors are necessary if not mandatory in gaining the acceptance and love of a woman. Never in a Disney animated movie will you see the losing character of a battle win the woman in the end. Because a lot of the most popular animated Disney movies were created in the mid to late 1900’s a lot of the themes shown in them are completely sexist and have no validity in current society. So basically, as long as parents continuing showing their sons Disney movies in which a character has to achieve some physical task instead of showing affection, or an emotional connection, men will continue to have no idea what women want. Because we as Americans feel such a deep, loving connection to the Disney movies we grew up with, it is only natural that we sit our children down in front of the television in an attempt to share with them a piece of our own childhoods. However as much as Disney has become embedded in our subconscious as wholesome and magical, today the world is a different place with different people and different ideas. The harmful effects of showing a child a Disney movie, especially a young boy can leave a dangerous mark. From body distortion, to dysfunctional relationship issues, the potential these movies have to alter a child future is certainly enough to switch off the Disney channel and turn on Lifetime. How to cite Disney vs. The Future of Men, Papers

Bullying Argumentative essay free essay sample

Bullying Have you ever seen or experienced bullying and the dramatic effects It has on Its victims? unfortunately nine out of every ten students have experienced bullying In school or online. Many people believe that bullying Is a part of growing up and kids do not know any better. Bullies are Intentionally causing mental and or physical damage to their victims, which will affect them for the rest of their lives. Bullying has shown that It can cause self Inflicted Injuries and even sulclde In America today, and there should be no doubt that we need to protect our youth today. We need to enforce a law that will have bullies face harsh legal punishment In order to do that. Bullying in schools is an often occurrence in Hollynuood movies depicting high school, but what they do not show are the effects of that bullying. There needs to be a zero tolerance policy on bulling, because it is a major issue which most Americans succumb to. Bullying can affect not only victims life, but it effects the victims ability to learn. Whether the bullying is in school or online, it can have a detrimental effect on a students ability to learn. Bulling of both can turn school from a source of nowledge and education to a nightmare that they fear. About 15% of all school absenteeism is directly related to fears of being bullied at school. Students should not be afraid to go to school or to get an education. Students are giving up their right to an education to bullies out of fear and that is a crime alone. Not only does bullying affect the victims attendance, but it affects the victims ability to focus and learn in the classroom. Instead of focusing on their class the victims worry about what the bully is going to do next, where to go, and how they are going to get through the day. Bullying as proven to be extremely detrimental to the victims health. Whether injuries are caused directly by the bullies or self inflicted by the victims, bullying is still the cause of these injuries. Bullies should not be able to brutalize and batter students like punching bags and be treated like a child. They should be treated like an individual who knows right and wrong and continues to do wrong by physically assault another student. In most cases of self inflicted Injuries are caused by cyber bullying, which Is online or over the phone. It Is horrible and It takes a lot to make someone feel Ilke heir life Is not worth living or that bringing a blade to their wrists will relieve the pain they are going through mentally. Cyber bullies attack people psychologically and get very personal with the Intent of hurting someone. They hide behind the computer and use It to ruin others lives. That Is worse than physical bullying, because the psychological scars are things that will be with the vlctlms forever. It will affect their self esteem, their value of life, their Insecurities, and how they act socially. Bullying does not go away after you leave school, bullying In some cases stays with eople for the rest of their lives. The events that the victims went through torments even seeing the bully themselves. Most victims have nightmares and flashbacks that bring them back to that horrible time of their life and haunt them long after school is over. The last thing I ask is to look at this from a personal perspective. People should think as if it were their child who came home crying, beaten, battered, cut marks on their wrists, depressed, and miserable. If everyone looked at it that way there would not be any doubt that this needs to stop and the world needs to change. As a ebuttal the opposite side might say that bullying is a part of growing up and it teaches us valuable lessons. Nobody should look at bullying and pass it over as something that is a part of society, because society does not thank or want bullying. Nobody wants their child to be bullied or to learn those lessons. People fear their child suffering and they want to be the ones who teach them valuable lessons. There are no positive effects from bullying because the intent of bullying is to harm someone else either physically or mentally. Another thing people might say is that the bullies are Just young and that they make bad decisions. Just because a bully is young does not excuse them from their actions. It is said that by the age of 8 years old a child clearly understands right and wrong. In almost all cases the bully know what they are doing is wrong but they want to hurt and crush their victims. Simply because there arent any severe consequences. Bullying is in no way shape or form acceptable and nothing anyone can say will downplay bullying because it affects everyone. If actions are not taken to enforce harsh legal punishment for bullies you will continue to see a rise of gruesome new stories of suicide, overdose, nd school shootings. Hopefully actions are taken, and if they are bullies will now either feel or suffer the consequences of their actions. After that there will be a clear decline of incidents caused by bullying and less suffering in schools. Students will focus on school and will accomplish more than ever before because of the distractions that are eliminated. There is no positive effect if the world lets bullies continue to run ramped, if they decide to place harsh legal punishment the only way to go is up from here. The war on bullying is and will not be over until school is a safe place for students.

Violence Against Women Act Essays - Commerce Clause,

Violence Against Women Act The Violence Against Women Act creates a right to be "free from crimes of violence" that are gender motivated. It also gives a private civil right of action to the victims of these crimes. The Senate report attached to the act states that "Gender based crimes and fear of gender based crimes...reduces employment opportunities and consumer spending affecting interstate commerce." Sara Benenson has been abused by her husband, Andrew Benenson, since 1978. Because of this abuse, she sued her husband under various tort claims and violations under the Violence Against Women Act. Now Mr. Benenson is protesting the constitutionality of this act claiming that Congress has no right to pass a law that legislates for the common welfare. However, Congress has a clear Constitutional right to regulate interstate commerce. This act is based solely on interstate commerce and is thereforeConstitutional. Because of abuse, Sara Benenson was afraid to get a job because it would anger her husband. She was afraid to go back to school and she was afraid to go shopping or spend any money on her own. All three of these things clearly interfere and affect interstate commerce. Women like Mrs. Benenson are the reason the act was passed. There has been a long history of judgements in favor of Congress's power to legislate using the commerce clause as a justification. For the past fifty years, Congress's right to interpret the commerce clause has been unchallenged by the Court with few exceptions. There is no rational reason for this court to go against the powerful precedents set by the Supreme court to allow Congress to use the Commerce clause. In the case of Katzenbach v. McClung, the Court upheld an act of Congress which was based on the commerce clause, that prohibited segregation. McClung, the owner of a barbeque that would not allow blacks to eat inside the restaurant, claimed that his business was completely intrastate. He stated that his business had little or no out of state business and was therefore not subject to the act passed by Congress because it could not legislate intrastate commerce. The Court however, decided that because the restaurant received some of it's food from out of state that it was involved in interstate commerce. The same logic should be applied in this case. Even though Sara Benenson's inability to work might not seem to affect interstate commerce, it will in some way as with McClung, thus making the act constitutional. The Supreme Court had decided that any connection with interstate commerce,as long as it has a rational basis, makes it possible for Congress to legislate it. In the United States v. Lopez decision, The Supreme Court struck down the Gun Free School Zones Act. It's reasoning was that Congress had overstepped it's power to legislate interstate commerce. The Court decided that this act was not sufficiently grounded in interstate commerce for Congress to be allowed to pass it. The circumstances in this case are entirely different than in the case of Sara Benenson. For one thing, the Gun Free School Zones Act was not nearly as well based in the commerce clause as is our case. The Gun act said that violence in schools kept student from learning and therefore limited their future earning power. It also said that violence affected national insurance companies. These connections are tenuous at best and generally too long term to be considered. However, in the case of Mrs. Benenson, her inability to work and spend directly and immediately affected interstate commerce. Therefore, the Lopez decision should not have any part in the decision of this case. The Supreme Court, in McCulloch v. Maryland, gave Congress the right to make laws that are out of their strict Constitutional powers so as to be able to fulfill one of their Constitutional duties. In this case, the Court allowed the federal government to create a bank. There is no Constitutional right to do this and Maryland challenged the creation of this bank. The high court ruled that in order for Congress to be able to accomplish it's duties. The same logic should be applied here. The Violence Against Women Act is an example of Congress overstepping it's direct

Japanese monetary policy Essays

Japanese monetary policy Essays Japanese monetary policy Essay Japanese monetary policy Essay Japanese monetary policy BY x51 lt9 The rather poor economic performance of Japan since the early 1990s provided inspiration to US and I-JK policy makers in how they addressed the 2007 financial crisis. How did US and I-JK policy makers respond to the 2007 financial crisis in a way that was different to the response in Japan? This part of the question would benefit from quantitative evidence. There are several similarities between the Japanese financial crisis of the 1990s and the global financial crisis that started in 2008. Countries like the US and the I-JK ealized this and have studied the measures that were taken by the Japanese central bank (Bank of Japan) at the time in order to learn from it. Measures that proved to be effective have been taken into account and are currently being applied in adapted forms by the Federal Reserve (the US central bank) and the Bank of England (the British central bank). In order to understand these measures, a brief recapitulation of Japans crisis will be given first in this paper. Subsequently, a comparison will be made with US and UK policies in order to analyze the differences and similarities. In the three decades following 1960 Japan achieved a rapid economic growth. Euphoria about the economic prospects started to break out due to the long period of excellent economic growth rates, which is referred to as the Japanese post-war economic miracle. In the 1980s overconfident institutions, firms and citizens started massive borrowing and aggressive speculation, which caused the economy to overheat. A bubble was created in the stock exchange and in the real estate market, which came to burst at the beginning of the 1990s. The resulting negative wealth ffect caused the Japanese people to cut their expenditure and increase savings. People had no trust anymore in the banks, which had turned into zombie banks due to the large amount of non-performing assets on their balance sheets (toxic debt), and therefore they kept their savings outside the banking system. Dropping sales (due to increased saving) resulted in Job losses, which in turn led to even more saving and less spending. By this way the Japan provisionally saved itself into a recession. The Bank of Japan first reacted to the recession with conventional monetary policy. They reduced interest rates in order to stimulate the economy. However, due to the collapse of asset prices, the insolvency of banks and firms and the refusal of Japanese consumers to spend their income, the Japanese economy slipped into deflation from 1998. The deflation worked as an incentive for the Japanese people to save even more and spend even less, since saving yields a positive return when there is deflation. The Bank of Japan responded by further lowering the interest rate to (close to) 0%. Because of the deflation however, the real interest rate was still positive and people continued to save. Since the interest rate could not be dropped below 0% the Bank of Japan reached a state of monetary policy impotence, see fgure 4. FIGURE 4 Janese Interest Rate (Benchmark Interest Rate) Japan also suffered from fiscal policy impotence. Neither significantly increasing government expenditure nor dropping taxes was possible to stimulate the economy. The first because Japan did not have the funds (they were in debt) and the latter because the conservative and risk averse Japanese citizens were very likely to save tax cuts instead of spending them. For a long time, the Bank of Japan believed that economic growth and recovery of sset prices would bring things back to normal over time. Their efforts were focused on prevention of bank failures and collapse of the financial system and not on active recovery. The zombie banks, which were for a large part responsible for all the misery, were implicitly protected. Accounting rules were relaxed, so that banks got the opportunity to conceal their financial trouble. There was no public support for any form of financial bailout that would solve problems on a more structural basis and throughout the 90s the financial institutions continued to muddle along. This eriod is known as the lost decade (Vollmer Bebenroth, 2012). In the early 2000s the Bank of Japan tried a different approach. They came with an important policy innovation, called quantitative easing. Under the quantitative easing program the Bank of Japan started to increase the monetary base, in order to flood the banks with liquidity. The idea was that the banks could lend this newly created money to households and firms and that this would lead to an increase in consumption expenditure and investments. In addition to the quantitative easing, the bank of Japan also broke with their revious policy of regulatory forbearance. They implemented a series of accounting reforms that made it more difficult for banks to conceal their bad loans. By making the financial sector balance sheets more transparent the bad debt problem was emphasized and it became clear that the accumulation of non-performing loans had to be curbed. A certain degree of public support for recapitalization was secured, which made it politically possible to inject public money in the financial sector (Lipscy Takinamt, 2013). These unconventional policy measures seemed to assort effect. After a long period of rial and error and policy experimentation, the Japanese managed to turn the tide and modest economic growth was recorded until the global financial crisis kicked in in 2008. Although the growth fgures had not been fantastic, the Japanese gain and loss during anti-crisis were noticed by UK and US policymakers. In their view, the Japanese experience had highlighted what policy actions should be taken or avoided to deal with a financial crisis. Basically, the reaction that followed from the UK and the US to the 2008 financial crisis is fourfold: interest rate cuts, quantitative easing, bank bailouts and change of hese actions much faster and more determined than Japan however. For the interest rate cuts and the quantitative easing, this is greatly illustrated in the fgures below(See figure 5 and 6). FIGURE 5 United States Interest Rate 2007-2012 (Benchmark Interest Rate) Source from: tradingeconomics. com FIGURE 6 United Kingdom Interest Rate (Benchmark Interest Rate) Where Japan had reduced interest rates gradually, the US and the I-JK took relative much sharper cuts. Also, they introduced quantitative easing on a much larger scale. As can be seen from the expansion in outstanding balances at the central bank, the onetary base was increased to a much larger extent (See Figure 7). FIGURE 7 central sank Balance Sheets (US, UK AND JAPAN) Source from: (Philips, 2013 ) Another lesson learnt from Japan was that you should not let toxic debt create zombie banks. Both the US and the I-JK immediately injected massive amounts of public funds into large commercial banks when they ran the risk to fail. To Justify these bail outs to the public, great transparency of the financial sector balance sheets was sought after, for instance by doing stress tests. Also, the Japanese case was frequently referenced to in order to secure public support. The public resentment against the irresponsible and risky behavior of financial institutions that caused the financial crisis, has contributed to a change in regulations. These will continue to change, since the debate about acceptable risks, supervisory authorities and banks that are too big to fail is still ongoing. If the evolving regulations, combined with the measures that were first introduced in Japans financial crisis of the 1990s, will be the way out of the crisis remains to be seen (See Figure 8). Monetary policy in Japan and the United States Source from: (Lipscy Takinami, 2013)