The International Monetary Fund (IMF) Essay -- essays research papers

â€Å"If you owe your bank a hundred pounds, you have a problem; but if you owe it a million, it has.(1)† In the year of 1327, Kind Edward III of England defaulted on his Italian debts. This caused the banks of Bardi and Peruzzi in Florence to collapse. Who would know that over 650 years later, the world would still have these types of problems? After World War II, the need for an organization like the IMF was finally realized. After the war, politicians and economists began to work on blue prints for a postwar world. They envisioned a liberal international economic order, based on stable world currencies and revived world trade. The International Monetary Fund (IMF) finally came into existence on December 27, 1945. On this date, twenty-nine countries signed its charter when meeting at Bretton Woods, New Hampshire. On March 1, 1947 the IMF came into financial operations. The IMF was established to promote internal monetary cooperation through a permanent institution, which provides the machinery for consultation and collaboration on international monetary problems. Also, it provides temporary financial assistance to countries under adequate safeguards to help ease balance of payments adjustments. In addition, it facilitates the expansion and balanced growth of internal trade. Many critics and even followers of the IMF do not even know what the IMF really is. It is not a development or even a central bank. It is a credit union. It pays interests on deposits it receives from member nations. The IMF lends money to members having trouble meeting financial obligations to other members, but only the condition that they undertake economics reforms to eliminate these difficulties for their own good and that of the entire membership. Some people believe that if the IMF tells a country to do something, they must do it. This statement is false. The IMF has no authority over the domestic economic policies of its members. The IMF is a cooperative institution that 182 countries voluntarily joined because they see the advantage of consulting with one another to maintain a stable system of buying and selling their currencies. All 182 members of the IMF contribute to a pool of funds that the agency then taps to aid troubled countries. The IMF currently has around 200 billion dollars. The U.S., Germany, Japan, Britain, France, and Saudi Arabia make up over 35 percent of thi... ... sums of money that could be spent on education to debt repayment. Structural adjustment makes the problem worse, as the IMF demand government spending cuts and privatization measures in education. What money remains for education goes to primary schools, with education beyond elementary levels shifting to a fee-for-service basis. In Mexico, the Bank advised the government to abolish constitutionally guaranteed free education at the national university, provoking a lengthy student strike. The rich get an education. The poor get sweatshop jobs. So, what do I think? Well, the IMF is a good program. It has worked in the past and it will continue to work in the future. It has proven that is has the necessary elements to be a successful worldwide organization. However, small adjustments do need to be made, as no organization is perfect. The IMF regularly talks about how it is doing things for the future, and not the present. I feel that the IMF should start fixing some of the current problems. This will give those countries confidence in the fund. They’ll feel that they can trust the IMF. In conclusion, the IMF is an organization that can help the world, just with small adjustments.

Modern Myths

Modern myths still pervade North American societies. Many of these modern myths were the products of Indian folklore or pre-modern American society. Although many claimed that such myths were a form of religious fanaticism or fervor, it can be argued that they were the result of historical speculation of early North American societies of their immediate environment. These modern myths are nonetheless powerful and to some extent influenced the behavior of many noted American personalities. Here is an example of a modern North American myth.Urban Legend: Bloody Mary (Schlosser, 2006)There was a young woman who sleeps deep in the forest. Her livelihood was selling herbal medicines in a nearby village. The townspeople though regarded her as a witch; hence no one dared to approach her, even the hardest criminal in the area. Many believed that whoever talk or approach her would be cursed or sold to the devil. She was feared indeed. Then, little girls in the town began to disappear. No trac es of the girls were found. Families of the disappeared girls began to search; in the farms, barnyards, and even the forest. Some of the men went to the house of Bloody Mary, but altogether she denied all allegations.The men noted that Bloody Mary looked younger and more attractive. They became suspicious of Bloody Mary, although no proof cold be found. Then one night, the daughter of the miller rose from her sleep and began to walk outside as if following an incantation. The wife of the miller saw the incident and reported it immediately to her husband. The two restrained the girl indiscriminately in order to prevent her from breaking away. Many people were awakened by the cries of the couple. Then, a farmer shouted that the cause of the incident is coming from the woods.Then, some people saw Bloody Mary holding a magic wand pointed to the house of the miller. When Bloody Mary saw the angry townspeople, she fled to the woods. A keen shooter farmer loaded his gun with silver bullets and shot the witch in the hip. Bloody Mary was carried by the townspeople to the field, where a large bonfire was awaiting her death. As Bloody Mary burned, she screamed a curse. If anyone mentioned her name before a darkened mirror, she would send her spirit to revenge upon them for her death. Unmarked graves of the little girls were found by the townspeople. They learned that Bloody Mary used to drink the blood of her victims to make her young again. It was passed on from generations to generations that whoever chants Bloody Mary three times on a darkened mirror, this would summon the vengeful spirit and rips the body and soul of the person.Social Significance of the Myth (Bloody Mary)The social significance of the myth discussed above can be seen in the various movies and accreditation the myth received from the movie industry. The myth is a powerful tool of revenue creation as with this specific industry. In the past 30 years, there were about 500 versions of this myth, all foc using on the â€Å"horror† part of the film, that is, the darkened mirror and the chanting of the words â€Å"Bloody Mary.† It is of no doubt that because Bloody Mary films became successful ventures, it is right to assume that its basis, the original myth, still exerts considerable influence on the part of the audience.According to the Encyclopedia of Folklore and Literature, urban legends and myths are usually defined as â€Å"apocryphal contemporary stories, told as true and usually attributed to as friend of a friend.† In most instances, the myth of Bloody Mary is perceived to be true by virtue of the fact that the story is assumed to be true by the storyteller. Although the story is non-existential or in short not real, the audience may find it true because of the way the â€Å"channel.† Because the channel presents the story as â€Å"true†, the receiver nonetheless assumes it to be also true.The channel here maybe defined as â€Å"the means of acquiring the information about the particular myth or urban legend (as in this case).† Movies and bonfire storytelling are the most efficient and effective means of transmitting the myth from one person to the other, without losing the track of credibility. It is no wonder that most Bloody Mary films are inconclusive, that is, they left the audience wondering whether the myth was true or not (to make a room for affirmation of the myth). Now it is safe to assume that even in North American societies, particularly in the United States, the myth of Bloody Mary pervades in some aspects of life.Children, particularly girls, are told of the story of Bloody Mary by their parents as a means for exacting obedience (negative reinforcement). For those in their teenage years, the story of Bloody Mary serves as a background check for their behavior.   They prevent themselves from going to forests without the guide of adult individuals. They also stay away from dark places with mirror s for fear that the myth may prove to be true. Although for them, the story of Bloody Mary is factual since there were individuals who reported that they saw Bloody Mary ripping the body of their friends.Going back to the definition of a myth or urban legend, the storyteller assumes that his/her story is true in order for the audience to feel its negative effect (affirmation of the story). There were reported cases when robbers were scared to their â€Å"pants† when they entered a house (without electricity) with a darkened mirror in the entertainment room. There were also reported cases when a man brushing her teeth in a nightclub and jokingly uttered Bloody Mary three times.A face appeared before him. He ran outside the club shouting that Bloody Mary did exist. He promised that he would never visit the nightclub. The woman who appeared to him was a prostitute, not Bloody Mary. This proves that even though the myth is not real, people usually perceives it as real. The primar y cause of such behavior is the channel that make the story real or â€Å"seem real.† The myth is as powerful as before. Although it can be assumed that its effects on the values of an individual may be accidental and in many cases derived from the characters of Bloody Mary films.ReferencesSchlosser, S.E. 2006. Bloody Mary. URL http://americanfolklore.net/folklore/2009/10/bloody_mary.html. Retrieved September 19, 2007.1800 Myths, Legends, and Folklore Links. URL http://www.mysteries-megasite.com/. Retrieved September 19, 2007.

Karoshi Death and Japanese Government - 1928 Words

Malia Pinal English 116 Professor Chad Kelly December 16, 2012 A worldwide Lesson: Karoshi â€Å"Death from Overwork†: The Consequences of Putting Wealth before Health Abstract: The main objective of this essay is to define and analyze the negative aspects of the Japanese’s Economical drive. Most specifically, it will describe a phenomenon that is occurring in Japan called â€Å"Karoshi† or â€Å"death from over-work†, where thousands of Japanese citizens are dying due to stress from the harsh working conditions they endure. This essay will prove that the prioritizing of economic prosperity over individual well-being is damaging to society. In order to achieve this, I will disclose detailed information on the connection between excessive†¦show more content†¦This pressure amounts to large volumes of stress and fatigue. The karoshi hotlines have received more and more female callers as time goes by. Also, the first lawsuit filed to seek compensation in the name of a female who died due to harsh working conditions was filed in July of 1992. However, since then, no official ruling was made in favor of a woman (Women Inte rnational Network News). Proving that the government’s harsh laws regarding labor is a setback in Japanese society. Although the Japanese Government has made some efforts to support the victims of karoshi, they are insufficient. Few people have been acknowledged to have suffered karoshi, and even fewer people have received compensation for their loss. According to a group of lawyers that handle the cases of affected families, it is estimated that some 10,000 Japanese per year die from it. However, the Labor Ministry has only recognized 110 deaths over the past three years. To legally be considered a karoshi victim by the Labor Ministry, the victim must have died after a 24 hour work period or have worked 16 hour shifts for seven continuous days preceding their death (Drinkwater). Clearly, the priority of the Japanese Government is to further expand and nourish their economy at any cost, not considering the consequence this has on the individual. The responsibility of finding a solution, however, corresponds equally to the Government as it does to theShow MoreRelatedThe Economic Crisis Of America Essay1204 Words   |  5 Pagesthat the more money a country possesses, the more successful that country is. Politicians argue over the national debt and the ways to reduce that. People’s lives revolve around money now and it is costing people their happiness and well-being. The government pushes for higher Gross Domestic Product, hoping that they will become the richest country. During an economic crisis, countries want to recover and have stability. 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