A Child Labour In India Children And Young People Essay

A Child Labour In India Children And Young People Essay Child labour is undoubtedly a human rights issue. It is not only exploitative but also endangers childrens physical, cognitive, emotional, social, and moral development. It perpetuates poverty because a child labour, deprived of education or healthy physical development, is likely to become an adult with low earning prospects.[1]This is a vicious cycle which apart from ruining the lives of many results in an overall backwardness in the masses. Moreover, conceptualising child labour as a human rights issue gives the victim with the authority to hold violators liable. Human rights generate legal grounds for political activity and expression, because they entail greater moral force than ordinary legal obligations. Children are right holders with the potential to make valuable contributions to their own present and future well being as well as to the social and economic development of the society and thus they should under no circumstances be perceived as passive and vulnerable. Today, traditionally prescribed interventions against child labour which were welfare based like providing a minimum age for work are being replaced by rights-based approach. A rights-based approach to child labour needs to be adopted which puts internationally recognized rights of children to the center while utilizing UDHR, ICCPR and ICESCR as a supportive framework. Child labour is a condition from which the children have a right to be free and it is not merely an option for which regulating standards must be devised. In this paper we shall firstly trace the slow orientation of child labour laws to include human rights perspective internationally, and then evaluate current Indian laws and policies from a human rights perspective II. A Human rights approach to child labour Initially, scholars were unsure over extending human rights to children.[2] For instance, the 1948 Universal declaration of Human Rights (UDHR) emphasises that everyone is entitled to all rights and freedoms set forth in the declaration but makes no age qualification to the same. So it is unclear whether it extends to children. However, Art.4 of UDHR has been interpreted as prohibiting exploitation of child labour by interpreting servitude to include child labour.[3] In addition, Articles 23 and 26 of the United Nations Universal Declaration of Human Rights seek to guarantee just and favorable conditions of work and the right to education, both of which are violated constantly and globally through the exercise of the worst forms of child labor. In 1966 the International Covenant on economic, social and cultural rights (ICESCR) and International Covenant on civil and political rights (ICCPR) took significant preliminary steps towards modifying human rights according to age, by defining childhood as a state requiring special protection, with rights distinct to those of adults.[4] Even so it was not until 1989 that the Convention on Rights of Children (CRC) clearly spelt out the rights of the child while giving them a special status apart from the adults. Thus, it should not be surprising that early international legal efforts to address child labour tended to be abolitionist in tone and treated as an aspect of labour market regulation.[5] Next, a prioritization approach was adopted where concentration was on the more abusive forms of child labour. So the ILO adopted Convention 182 on the Worst Forms of Child Labor, 1999, aimed at the immediate elimination of intolerable forms of child labor. The convention requires signatories to work with business groups to identify hazardous[6] forms of child labor and introduce time-bound programs for eliminating them. Conventions 138 and 182 are recognised as core International Labour Organization (ILO) conventions but unfortunately human rights groups have done much to criticise it. They argue that this artificial division of hazardous and non-hazardous forms of child labour is artificial and made only for the benefit of labour regulations. Child labour in any form is very harmful and exploitative for the children.[7] Secondly, child labour, as defined by ILO is work done by children under the age of 12; work by children under the age of 15 that prevents school attendance; and work by children under the age of 18 that is hazardous to their physical or mental health. It is an economic activity or work that interferes with the completion of a childs education or that is harmful to children in any way.[8]Such an age based classification is incongruous and is behind time.[9] The right to a childhood cannot be replaced by placing such age barriers which imply at least some work could be done by children at even age 12! Where is the best interest of child seen in such laws? Fortunately, a human rights approach to child labour was soon adopted by Convention on Rights of the Child (CRC) in 1989. Such rules focus not only on the avoidance of harm to children but as well, on regulation of employment relationship in which working children find themselves and beyond that, on rights of children to education and to participate in decisions that affect their lives, including those related to their employment. This holistic view of child labour as only a part of a childs life is principally what sets human rights approach apart from the labour regulation approach.[10] However, some critique of CRC feel that categorizing child labour as a special category has trivialized their rights and have made them weak and in need of an adult advocate. Conversely, the defenders of CRC argue that it is through this classification that children gain more rights with legally recognized interests which are specific to their stage in life cycle. The slavery convention, 1926 and Supplementary convention on abolition of slavery, the slave trade, institutions and practices similar to slave trade, 1956 entered into force in 1957 prohibits slavery like practice under Art 1. In recent times Child labour has been read as a slave like practice as it involves economic exploitation. Since children are more vulnerable than adults and are dependent on their parents, it can be assumed that when they are economically exploited by their parents or by their consent, the decree of dependency necessary for work to b qualified as slavery like practice will be attained in most cases. In the light of ICCPR (art 8(2)) and Supplementary convention on abolition of slavery, the slave trade, institutions and practices similar to slave trade, 1956, Art.4 of UDHR should be interpreted as prohibiting exploitation of child labour as child labour comes under servitude. Child labour also comes under the term forced or compulsory labour in Art.8(3) of ICCPR. The obligations of state parties under art 8 are immediate and absolute. Thus state parties have to prevent private parties from violating child labour norms. Art 24, ICCPR obliges the state to protect children from economic exploitation. III. Convention on rights of child United Nations Convention on the Rights of the Child is the first legally binding international instrument to incorporate a full range of human rights such as civil, cultural, economic, political and social rights for children. The Convention offers a vision of the child as an individual and as a member of a family and community, with rights and responsibilities appropriate to his or her age and stage of development. By recognizing childrens rights in this way, the Convention firmly sets the focus on the whole child. The Convention under Art.32 speaks of economic exploitation of children by making them perform work that is likely to be hazardous or to interfere with the childs education, or to be harmful to the childs health or physical, mental, spiritual, moral or social development. The Convention spells out a childs right to education[11], as well as identifying the forms of harm to which children should not be exposed. Other rights given to children include right to the enjoyment of the highest attainable standard of health and to abolish traditional practices that are prejudicial to childrens health (Article 24), a right to a standard of living adequate for the childs physical, mental, spiritual, moral and social development; parents have the main responsibility for this, but governments are required within their means to assist parents, as well as to provide material assistance and support in case of need(Article 27) and a right to rest and leisure, to engage in play and recreational activi ties appropriate to the age of the child. Article 22 specifies that refugee children have the same rights as all other children. Article 6 of the convention makes it the obligation of the governments to ensure that children are able to survive and develop to the maximum extent possible while Article 11 urges governments to prevent the illicit transfer and non-return of children abroad. Under Article 19, Governments must take action to protect children against all forms of physical or mental violence, injury, abuse, neglect, maltreatment or exploitation, including sexual abuse[12] and must provide special protection and assistance to children who are deprived of their own family environment under article 20. Article 35, requires governments to take action to prevent children from being trafficked while articles Article 36 and 39 requires governments to protect children against all other forms of exploitation prejudicial to any aspects of the childs welfare and to help children recover from exploitation, neglect or abuse (particularly their physical and psychological recovery and return and reintegration into th e communities they come from). Two other provisions in the Convention are also vitally important for working children. Article 3 says government agencies and other institutions taking action concerning a child or children must base their decisions on what is in the childrens best interests. Article 12 emphasises that when a child is capable of forming his or her views, these should be given due attention, in accordance with the childs age and maturity. Other conventions of interest include Optional protocol to the convention on rights of child on sale of children, child prostitution and child pornography and Optional protocol to the convention on rights of child on the involvement of children in armed conflict both adopted in May, 2000. IV. India and its International commitments India has ratified six ILO conventions[13] relating to child labour but have not ratified the core ILO conventions on minimum age for employment (convention 138) and the worst forms of child labour, (convention 182) recognised as the core conventions at the international labour conference which makes it mandatory for the international community to follow certain standards in their crusade against child labour. Nevertheless, India has taken commendable steps to eliminate child labour. The recent right of children to free and compulsory education Act, 2009 and the preceding 86th amendment exemplifies the same. Furthermore, the passing of Juvenile Justice (care and protection) Act, 2006 shows Indias commitment to a human rights approach to child labour. The Act emphasises on looking into the best interests of the child and allows for social reintegration of child victims. In such a scenario India not signing the core labour conventions does not make a difference in the fight against child labour. India is a party to the UNdeclaration on the Rights of the Child 1959. India is also a signatory to the World Declaration on the Survival, Protection and Development of Children. More, importantly India ratified the Convention on the Rights of the Child on 12 November 1992.[14] Other important international initiatives against child labour include the adoption of the first Forced Labor Convention (ILO, No. 29), 1930, Stockholm Declaration and Agenda for Action: States that a crime against a child in one place is a crime anywhere, 1996, establishment of 12 June as the World Day Against Child Labor in 2002 by ILO and the first global economic study on the costs and benefits of elimination of child labour.[15] V. Indian laws on child labour The present regime of laws in India relating to child labour are consistent with the International labour conference resolution of 1979 which calls for combination of prohibitory measures and measures for humanising child labour wherever it cannot be immediately outrun.[16] In 1986 Child labour (Prohibition and regulation) Act was passed, which defines a child as a person who has not completed 14 years of age. The act also states that no child shall be employed or permitted to work in any of the occupations set forth in Part A or in the process set forth in Part B, except in the process of family based work or recognised school based activities. Through a notification dated 27 January 1999, the schedule has been substantially enlarged to add 6 more occupations and 33 processes to schedule, bringing the total to 13 occupations and 51 processes respectively. The government has amended the civil service (conduct) rules to prohibit employment of a child below 14 years by a government employee. Similar changes in state service rules have also been made. The framers of the Indian Constitution consciously incorporated relevant provisions in the constitution to secure compulsory primary education as well as labour protection for children. If the provisions of child labour in international conventions such as ILO standards and CRC are compared with Indian standards, it can be said that Indian constitution articulates high standards in some respects The constitution of India, under articles 23,24, 39 ( c) and (f), 45 and 21A guarantees a child free education, and prohibits trafficking and employment of children in factories etc. The articles also protect children against exploitation and abuse. Equality provisions in the constitution authorises affirmative action policies on behalf of the child. The National child labour policy (1987) set up national child labour projects in areas with high concentration of child labour in hazardous industries or occupations, to ensure that children are rescued from work and sent to bridge schools which facilitate mainstreaming. It is now recognised that every child out of school is a potential child labour and most programs working against child labour tries to ensure that every child gets an education and that children do not work in situations where they are exploited and deprived of a future. Similarly, there are other programmes like National authority for elimination of child labour, 1994 (NAECL) and National resource centre on child labour, 1993 (NRCCL). Recently, government of India notified domestic child labour, and child labour in dhabas, hotels, eateries, spas and places of entertainment as hazardous under the child labour (prohibition and regulation) Act, 1986, effective from 10-10-2006. National human rights commission has played an important role in taking up cases of worst forms of child labour like bonded labour. In 1991 in a silk weaving village of Karnataka called Magdi it held an open hearing which greatly sensitised the industry and civil societies. It also gave rise to new NCLP programmes.[17] VI. Judicial reflections Judiciary in India has taken a proactive stand in eradicating child labour. In the case of M.C. Mehta v. State of Tamil Nadu and Ors[18], this Court considered the causes for failure to implement the constitutional mandate vis- ¿Ã‚ ½-vis child labour. It was held that the State Government should see that adult member of family of child labour gets a job. The labour inspector shall have to see that working hours of child are not more than four to six hours a day and it receives education at least for two hours each day. The entire cost of education was to be borne by employer. The same was reiterated in Bandhua Mukti Morcha v.UOI[19] and directions were given to the Government to convene meeting of concerned ministers of State for purpose of formulating policies for elimination of employment of children below 14 years and for providing necessary education, nutrition and medical facilities. It was observed in both the case that it is through education that the vicious cycle of poverty and child labour can be broken. Further, well-planned, poverty-focussed alleviation, development and imposition of trade actions in employment of the children must be undertaken. Total banishment of employment may drive the children and mass them up into destitution and other mischievous environment, making them vagrant, hard criminals and prone to social risks etc. Immediate ban of child labour would be both unrealistic and counter-productive. Ban of employment of children must begin from most hazardous and intolerable activities like slavery, bonded labour, trafficking, prostitution, pornography and dangerous forms of labour and the like.[20] Also, in case of PUCL v. UOI and Ors[21] children below 15 years forced to work as bonded labour was held to be violative of Article 21 and hence the children were to be compensated. The court further observed that such a claim in public law for compensation for contravention of human rights and fundamental freedoms, the protection of which is guaranteed in the Constitution, is an acknowledged remedy for enforcement and protection of such rights. However, Human rights experts criticise the scheme of payment of compensation envisage in Child labour act and further adopted by the Judiciary with gusto.[22] They say that monetary compensation is like washing away ones conscious which still believes that if a child labour is sent to school he must be compensated for the amount which he might have got if he had worked instead. This only confuses the already divided opinion of the society today which still thinks that poor and needy children are better off working. VII. Conclusions India has done well in enacting suitable legislations and policies to combat child labour. Nonetheless, its implementation at grass root level is very much lacking. The child labour laws today are like a scarecrow which does not eliminate child labour but only shifts it geographically to other places, to other occupations like agriculture which may be less paying or it might be still continued clandestinely.[23] The lack of a specialised enforcement officer leads to lesser attention being given to child labour legislations. Furthermore, many of the child labour programmes remain poorly funded. Child labour is a complex problem which cannot be eliminated without first attacking it at the roots. Thus, poverty, unemployment, lack of social security schemes, illiteracy and the attitude of society need to be tackled first before any progress can be made. A starting point can be to treat Child labour as a human rights problem and discouraging its manifestation in any form. If the society as such sees child labour as a social malaise, we will be much closer at achieving success. Lastly, there is a lot of debate over the age from which child labour should be banned. The ILO conventions do not give a definite age, 14 years seems to be the general understanding but CRC defines a child to be below 18 years. Right to education is for children below 14 years and Child labour is prohibited till age of 14 years. This brings the question as to whether children of age 14-18 years are to be denied basic human rights and are to be left vulnerable.

Abraham Maslow’s Hierarchy of Needs

Abraham Maslow’s Hierarchy of Needs and the Road to Self-Actualization PSY 330: Theories of Personality January 30th, 2012 Abraham Maslow: Hierarchy of Needs and the Road to Self-Actualization Abraham Maslow was an American theorist that was one of the advocates of humanistic psychology. He believed that self-actualization is â€Å"a situation that exists when a person is acting in accordance with his or her full potential† (Hergenhahn & Olson, 2011).I will illustrate the key concepts of Maslow’s hierarchy of needs of humans, research the methodologies of his concept, and address how self-actualization has conceptualized on this type of personality development. His contribution to humanistic psychology has helped self-help enthusiasts, educators, and business proprietors alike. Maslow's hierarchy of need was one of the main theories that assisted in paving the route to what he believed was self-actualization.Because Positive regard assists in the growth of motiva tion, there are certain essential functional needs that human needs, and Humans can fulfill their full potential in a positive manner. Who was Abraham H. Maslow? Abraham Maslow was born in Brooklyn, New York on April 1, 1908. His parents were immigrants from Russia who were poor and had six other children after Abraham. He spent his time mostly by himself and liked to read. Being that he was Jewish in a neighborhood that was not he felt unhappy and lonely.As a child he had parents that were emotionally and verbally abusive towards him and over time he grew to have strong feelings of hatred especially for his mother. He eventually made amends with his father, but never did so with his mother. When Maslow transferred from City College of New York to Cornell University in 1927; his introduction to Psychology was unexceptional at best. Maslow’s professor Edward B. Tichener lectured â€Å"scientific introspection† that he found to be â€Å"cold and boring, and caused him t o lose interest in psychology temporarily† (Hergenhahn & Olson, 2011). A year later he went back to City College of New York.He went on to the University of Wisconsin where he received a Bachelor’s Degree in 1930, his Master’s Degree in 1931, and his Doctoral Degree in 1934. While living in Wisconsin, â€Å"Maslow married his first cousin and childhood sweetheart, Bertha Goodman, and they eventually had two children† (Hergenhahn & Olson, 2011). In the mid 1930’s, Maslow worked as a Carnegie fellow for 18 months under theorist Edward L. Thorndike. Thorndike’s theories were similar to the studies of theorists Pavlov and B. F. Skinner. He theorized â€Å"animal intelligence and applied animal to human educational experiences† (Indiana. edu, 2012).Thorndike emphasis was on Behaviorism and Psychoanalysis. The type of people he was interested in like Albert Einstein were people that had solid evidence of them doing whatever they needed to do to achieve their highest potential. Maslow found their innovative ways of creativity to be one that needed to be studied and examined. Throughout the 1940’s and early 1950’s he continued to strengthen his interest with people that he considered to be â€Å"self-actualizers, looking back at history, he studied individuals such as Abraham Lincoln, Jane Adams, Albert Einstein and Albert Schweitzer† (strenghtfoundation. rg).By the late 1950’s, along with Clark Moustakeas, who was another revolutionary psychologist, set up â€Å"two meetings that were held in Detroit among psychologists who were interested in founding a professional association dedicated to a more meaningful, more humanistic vision† (strenghtfoundation. org). This was where the â€Å"Third Force†, Humanistic Psychology began to take form. Many topics were discussed that fell under the same umbrella on how self-actualization is manifested and what were the building blocks of oneà ¢â‚¬â„¢s originality.Three years after the meetings Brandels University sponsored the introduction of the â€Å"American Association for Humanistic Psychology† (strenghtfoundation. org). This was the beginning of one of the groundbreaking contributions to Psychology Abraham Maslow has done. Another way that Maslow has contributed to Psychology by making sure through gatherings, meetings, lectures, and theory that the matter of humanistic psychology is just as valuable and needed to be taught as that of Pavlov’s theory of behaviorism and that of Freudian’s psychoanalysis theory.As a prophet of human potential, Maslow believed the realization of one’s total potential variously described as self-realization to be the ultimate goal of all human kind† (Dhiman, 2007). He did this with extensive research and by working with theorist that shared the same interests, like Carl Rogers. He did his bit on teaching at a university, but quickly found out that he d id not like it very much and had the students teach the class as he monitored. The times that he did lecture the class, he asked questions that broaden the horizons of how the student saw themselves in the future.The questions were similar to â€Å"Who wants to be president? â€Å"Or a great composer†, and even an aspiration to be a saint? † (Dhiman, 2007). I believe this gave the students a platform to start thinking of a broader prospective for them and create what they needed to build their motivation to do and be anything that they can imagine to be. This drive or push in their self-esteem is one of the best ways to feel like they are needed and wanted. According to a book written and reviewed by R.J Lowry, it was an assembly of eight articles that were written by Maslow and his research on humans and the â€Å"character structure†; one of the articles depicted his â€Å"theory of human motivation and his concept on the hierarchy of human needs† (Lowr y, 1975).Maslow’s Hierarchy of Human needs is one of his most popular theories. Maslow’s focal point on his theory of motivation was the concept was that humans have a set of needs. According to our text, the â€Å"hierarchy of human needs is an arrangement of the needs from lowest to highest in terms of their potency† (Hergenhahn & Olson, 2011). see figure1). Abraham Maslow’s Hierarchy of Needs [pic] Figure 1, Maslow Enhanced 2011. This figure illustrates the various levels of Maslow’s Hierarchy of Needs. Maslow's Hierarchy of Needs was one of the main theories that assisted in paving the route to what he believed was self-actualization.The lowest part of the pyramid is the Biological and Physiological needs. One would think that basic life needs like â€Å"air, food, drink, shelter, warmth, etc. , would be an essential need. How would we as humans, be able to live without it. To Maslow he didn’t look at it that way. According to Maslow, p sychology has overemphasized the importance of such needs in determining the behavior of humans in a modern society; a person’s life cannot be dominated by hunger or thirst† (Hergenhahn & Olson, 2011). He was interested in knowing what happens when the needs of the physiological nature have been met. The second tier on the pyramid is Safety Needs. Feeling safe and secure means so much for many. Having that need builds a sense of trust that everything is going to be alright. It is of great gratification for humans that are able to not worry about harm.Inching closer to the top and in actuality right in the middle is my favorite, Love Needs and Belongingness. This tier incorporates the need of affection, relationships, family, etc. Making a connection to a person and/or group is a very important need to some individuals. I’ve seen that the lack of this need has left some individuals feeling lonely and not having a sense of purpose. In some cases, these individuals ended up being very depressed. The fourth tier that is closest to the top and the second most important tier is Esteem Needs.According to the Journal of Asset Management, esteem needs are â€Å"the desire for achievement, confidence to face the world, independence, freedom, the desire for reputation and prestige, recognition, attention, and importance† (De Brouwer, 2009). I would think that these are the needs that one needs in order to build self-esteem. These needs include â€Å"respect, recognition, and confidence† (strenghtfoundation. org). Having this type of need is important in any dynamic of family, employees, friendship, and companionship. Feeling validated and a sense of importance can be viewed as really important, it did to Maslow.He advised that lack of esteem needs â€Å"results in discouragement and feelings of inferiority† (Hergenhahn & Olson, 2011). The final and top tier is self-actualization. Self-actualization â€Å"the highest level in the hierarchy of needs, which can be reached only if the preceding need levels have been adequately satisfied† (Hergenhahn & Olson, 2011). This is where the individual is living and being at their highest potential. The tier describes it as reaching the need of personal growth and fulfillment. As a student, I know that I am doing whatever there is possible to reach this need.I did once with my job. I felt that whatever task and/or issue that I was given gave me the necessary tools and resources to help me feel that I was on the right track of achieving this very need. Since then I was laid off with hundreds of others. I have yet found a job that I could feel that way again. Maslow’s Hierarchy of Needs has been used as a backdrop for corporate markets, economic structures, and personality development. For example, Maslow’s theory has been used to â€Å"predict development of Quality of Life in countries over time† (Hagerty, 1999).This prediction was done to a s eries of â€Å"88 countries from 1960-1994† (Hagerty, 1999). All were being researched against Maslow’s level of needs. Could humans and/or even countries strive and achieve growth and potential coming from a terrible circumstance. Do they have to have these needs in place to transition to the next level? Some people thought that Maslow’s theory could be challenged. A writer of an article about Maslow wrote: â€Å"that there were many people who have grown despite or even because of tough circumstances† (strenghtfoundation. org).Maslow did have some doubts but still stood by on how people thrive through a hopeful atmosphere. Human nature has shown differences and what are alike in this hierarchy of needs. Most of the examples are in social atmospheres. Teenagers for example seek acceptance from their peers. As a teen, I wanted to feel I was part of my group and I wanted them to like me. I saw how the treated those that they didn’t care for and I di d not want that to happen to me. As I grew older I didn’t really have that need of acceptance. I see that my son as a young boy doesn’t care if he is accepted or not.He has friends, but he feels that he doesn’t have to jump through hoop to keep them or make them like him. Generally, it is common for most individuals to want to feel safe and secure. Having a sense of fear is not healthy. It can bring forth anxiety that could be detrimental to other areas in their life. Many humans see that they can’t live without the physiological need. If I was asked before reading more about the hierarchy of needs, I would say that that would be the most important need. If we don’t eat we will not survive. Maslow has me thinking twice.This need is a never ending cycle and we have to meet it. The other needs to some could be conditional or something that they don’t deem to be important. A healthy outlook would be that of seeing these needs as a transitional platform to move on to the next goal. Some of the time we don’t get everything aligned together and needs met when they are supposed to. These are the times when an individual can find that this experience could be difficult to deal with. This would be an example to be unhealthy. Some people would obsess on the fact that they are lacking, lonely, and not achieving their highest potential.Most people don’t really know how to handle these circumstances and deal with them on a negative way. Others know how to look at the glass as half full then half empty and take a more positive approach to achieving their needs. Maslow believed that â€Å"all human needs including the need for self-actualization were instinctoid, it must be the environment (society, culture) that determines the highest level of attainment in the hierarchy of needs† (Hergenhahn & Olson, 2011). In my experience, the needs that are described in Maslow’s hierarchy are those that I am constantl y tried to move up to and maintain for as long as I remember.The some such as love needs, physiological, and safety needs are constantly going in and out of not being met. I know that I don’t live my life dwelling on what I don’t have. I believe very much in myself that I would be able to have those needs met. In conclusion, theory of the achieving the goal to self-actualization relies on the hierarchy of needs that I have illustrated in depth. Individuals are given the opportunity to achieve these needs and move up higher in the tier. Maslow's hierarchy of need was one of the main theories that assisted in paving the route to what he believed was self-actualization.Because Positive regard assists in the growth of motivation, there are certain essential functional needs that human needs, and humans can fulfill their full potential in a positive manner. References: Hergenhahn, B. & Olson, M. (2011). An introduction to theories of personality (8th ed). De Brouwer, P.. (2 009). Maslowian Portfolio Theory: An alternative formulation of the Behavioural Portfolio Theory. Journal of Asset Management, 9(6), 359-365. Retrieved January 29, 2012, from ABI/INFORM Global. (Document ID: 1645869911). Dhiman, S.. (2007). Personal Mastery: Our Quest for Self-Actualization,Meaning, and Highest Purpose. Interbeing, 1(1), 25-35. Retrieved January 29, 2012, from ABI/INFORM Global. (Document ID: 1680535071 Lowry, R. J. (1975). Dominance, Self Esteem, Self-Actualization: Germinal Papers. Contemporary Sociology, 4(5), 556-557. Retrieved January 24, 2012, from the Jstor database. Hagerty, Michael R. (1999). Testing Maslow's hierarchy of needs: National quality-of-life across time. Social Indicators Research, 46(3), 249-271. Retrieved January 30, 2012, from ABI/INFORM Global. (Document ID: 42213750). Figure 1, Maslow Enhanced | CIBU – California International Business University. (2011, March 14).Bachelor Degree, MBA Program, Doctor of Business Administration: CIBU – California International Business University. Retrieved January 27, 2012, from http://cibu. edu/general-posts/maslow-enhanced/ Human Intelligence: Edward L. Thorndike. (2012, January 26). Indiana University. Retrieved January 29, 2012, from http://www. indiana. edu/~intell/ethorndike Abraham Maslow’s work on strengths – The Strengths Foundation. (n. d. ). Welcome to The Strengths Foundation – Sharing the Strengths Way of Encouraging People. Retrieved January 29, 2012, from http://www. thestrengthsfoundation. org/3-tips-for-understanding-abraham-maslows-work-on-strengths

What You Can Do About Help Writing Term Papers Starting in the Next 8 Minutes

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Monetary Policy Should Consider Asset Prices - 944 Words

To look into the issue of whether monetary policy should consider asset prices in particular their appreciation, we lay out a model in which we corporate a role for asset prices in particular bubbles. To carry this forth, we lay the paper out into 3 sections, where in section one we summarize our model and findings, section two we look into the model in further detail. In section three we evaluate four scenarios in which a monetary policy maker could face in a given economy, and in the last part we look into the historic prevalence of monetary action to asset prices and what they did during the housing bubble and 2017. In particular the last part will look into what the Fed did. By the end of our analysis, we acknowledge that one rule does†¦show more content†¦mean and standard deviation Step 3: To estimate the net benefits to the policy setter, of responding to asset prices, when there exists uncertainty. Evaluate the uncertainty parameter. Outcome: In the presence of uncertainty about the underlying macroeconomic model, Central Banks tend not to respond to asset prices, in the absence of it they prefer to respond. Aim 2: Use payoff functions to estimate net benefit of responding. Approach 2: We define uncertainty as the possibility of asset price variable coefficients being zero ( φ = 0, ÃŽ ² = 0). We can now lay out the possibilities a policy maker faces by the following: True macroeconomic structure AP matter AP do not matter L*1,1 L1,2 L2,1 L*2,2 Monetary AP matter Authority’s view AP do not matter †¢ The optimum reaction functions which minimize the problem faced by the policy setter and achieve the minimum loss are: L*1,1 and L*2,2 where the policy setter correctly assumes, when asset prices do and do not play a role in the economy, respectively. †¢ L1,2 and L 2,1 are the loss function values, when the policy setter fails to correctly assume when asset prices do and do not play a fundamental role in the economy, respectively. Given the perception, the policy setter uses the reaction function by assuming asset prices play a role (whenShow MoreRelatedWhat Role Did The Setting Of Monetary Policy Play On Housing Market Developments?1743 Words   |  7 PagesWhat role did the setting of monetary policy play in housing market developments? Monetary policies play can or not play a major role in the housing developments. This all depends on the supporting evidences provided that aligns with the goals of the policy makers. In this scenario monetary policy was not the initial reason for the extraordinary strength in the housing markets. According this case study, a relationship between interest rates and housing activities is not adequate enough to explainRead MoreEssay about Eco/372 Final1144 Words   |  5 Pagesstated in the prices of a given year 4) Underemployment includes people B. who are working part time, or not using all their skills at a full-time job 5) The Bureau of Economic Analysis is responsible for which of the following? C. Calculating U.S. gross domestic product] 6) The Federal Reserve provides which of the following data? A. Federal funds rate 7) Consider if the government instituted a 10 percent income tax surcharge. 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Based on the data given by the U.S. Department of Commerce today, the economy is now healing from the recession with the expansionary monetary policy. However, some people argue that it takes too long for the recovery to happen and suggests that it is time for the Fed to come out with an exit strategy. H owever, I think the Fed should stick withRead MoreEssay on Final Eco/3721484 Words   |  6 Pagesgoods and services produced in an economy including exports b. all goods and services produced in an economy, stated in prices in a given year and multiplied by quantity c. the market value of all final goods and services produced in an economy stated in the prices of a given year XXX d. the market value of goods and services produced in an economy stated in current year prices 3. underemployment includes a. who work off the books to avoid paying taxes b. who are working part time or not usingRead MoreA Review of Is Monetary Policy Overburdened? 1584 Words   |  7 Pageshave too high expectation on monetary policy to achieve long-term goals which can only be accomplished â€Å"by the appropriate policy mix and the cooperation of other public institutions.† Orphanides focused on three major goals burdened on Central banks (CB) which are full employment, fiscal sustainability and financial stability; and developed his arguments using four typical economies, US, Japan, UK and Euro area. He claimed that especially after the GFC, monetary policy is compelled to achieve these