Impact of the Columbian Exchange Essay Example for Free

Impact of the Columbian Exchange Essay The Columbian exchange is the exchange of goods from the New world to the Old world and vice versa. The new world included Europe, Africa, Asia and the new world was known as The Americas. Things that were traded during this time were tomatoes, apples, potatoes, cacao, corn from the New world to Old world. Oranges, lemons, wheat, and rice were major things traded from the Old world to the new. Because of the Columbian exchange, it still affects our modern society. Like how we interact with other countries to get what we need. And trade off things that we have to benefit us. There were many things that occurred that were changed in the world due to the Columbian exchange. For example the spreading of diseases from the old world to the new world. The disease spread from one place to another during the trade was by the ships that shipped over the goods. People and animals would carry unknown diseases to The Americas to trade. Not knowing the people who were there would get exposed to the germs and get ill. Since theyve never encountered diseases from the new world before, they cant fight it off and this caused a major wipeout in The Americas to the people who had no immunity. Diseases like smallpox, measles, malaria, whooping cough were all diseases that the Native Americans living there have never encountered. Because of the rapid spreading of diseases they couldnt find out to escape in time and smallpox (killed most of the Natives population) got rid about 95% of their entire population. The remaining Native Americans would be angry by how not only did the Europeans have invaded their lands but also killed them with their deadly diseases. The Native Americans didnt have any diseases that the Europeans werent already immune to, so the spreading of new diseases wouldnt really have major concerns on the people of the Old World. This caused tension to arise between the two but to the Europeans, they had better things to worry about. Like coming up with ways to help make them more powerful through trade. They knew the Natives were no longer any threat to them. Theyve and have the technology to defeat the Natives at any given time and already have taken over the land. The Columbian exchange also played a role in resulting in the spreading of European culture. With all the trading going on more explorers from Spain come to settle on the New World to look new wealth and to spread Christianity. Eventually others from different countries from the Old World also migrated over to find job opportunities. The Europeans took this opportunity to spread their religion across the New World. They taught the people about the bible and Christianity and as more people learned about Christianity they converted. Which was the beginning of the spread of Christianity. This was a positive thing for the Europeans because they would be gaining more power over the people now that they are on their side, believing in their religion. For the native Americans this did not benefit them. Since the European culture rapidly spread throughout the new world, spread their culture was not able to be carried out to others and it slowly died down. They no longer could live the way they use to, believe in the things they did and carry on their traditions and customs. With the new shipping technology the Europeans over time advanced, let them travel and take over more lands and spread their customs and change the peoples current ways of living and convert into Christianity or they would be killed. Christianity soon traveled and spread all over the world and teachings of it changed peoples everyday life and beliefs. The way they viewed life and the things they needed to do to show their dedication to god. They now have to go to the place of worship the church. Every aspect of their lives was impacted by what they believe now. They changed the way they lived to be fit to what the bible tells them what they should do. For example the bible doesnt believe in planned parenthood and abortion so this caused a major population growth. The spreading of Christianity couldve raised competition between other religions of the expansion of each one. Slave trade also spread to the Americas from the Old World during this time. This impacted America in both a positive and negative way. The positive is that the people living in the Americas get free labor. They dont have to hire people to do field work or any manual labor work. And getting slaves for a good deal bargaining the things they already have. But because of this factor it was also the reason why the economy wasnt as high as it couldve been. Due to slavery, they were force to do many jobs so when people that were looking for jobs had limited choices to find one. There werent many job opportunities since the slaves were doing most of the work out there. The economy was effected also in negative and positive ways. The free labor the Europeans were getting from the slaves caused more food production to be made and faster to trade for more things from the Old World. Fast crops production would mean they wouldnt run out of supply and that will benefit them during trading. In the slaves perspectives, they were treated cruelly and unfairly. Forced out of the homes and family to work day and night unpaid for an unknown owner. They dont get any benefit out of this system except for the fact they are provided food and a shelter over their heads. This affected their lives in many ways. If they had children they needed to teach their children what their duties were and what they needed to do. This would change their perspectives in life and their beliefs. On why they were being placed in the Americas and question their faith in god. These questions they might have had could later influence and change the view of their religion later in their childrens lives.

Unabashed Substance Abuse Analysis Society Essay

Unabashed Substance Abuse Analysis Society Essay Substance abuse is something that is very common in today s life. There are many substances that are called abused and the most common abused substances are the street drugs. The other abused substances include alcohol followed by medical and prescription pills. Anything and everything can be abused if consumed in excess and this can include medicines as well. Substance abuse is identified by unusual behavior and it is because of this that there is a restriction on the abuse of substances. There are two types of substance abuse and they are the normal, frivolous way of using substances without getting addicted to them, these people either stop the use of these substances or end up getting addicted to these substance abuse. The second type is the people who are addicted to these substances. Normally people think that they can get out of the addiction whenever they want and this is not something that happens. People end up getting so addicted that they feel they cannot survive without it. This is the stage where one loses complete control and is impossible for one to recover from this stage without outside help. Normally a person can gain control once in a while and this control keeps changing stance and there is a gyration between control and no control. This may go on for an infinite time unless the person accepts outside help. Substance abuse is something that is really dangerous and once addicted it is very difficult for that person to lead the normal life he/she has been once leading. The person starts experiencing a drift towards the negative aspect of life and it becomes difficult for the person to live life the easy way. This addiction can be overcome if the person is willing to accept help from others and this can help them regaining their happy life free of addiction. Substance Abuse Treatment An abused substance is one which is consumed in quantities exceeding the prescribed one. There are many abused substances such as drugs, alcohol etc. There are many people who are addicted to substance abuse and they are in need to be treated immediately. Substance abuse treatment is the treatment of a person addicted to substance abuse such that he can be relieved of this addiction. This treatment is normally provided in substance abuse facilities. If a person you know is addicted to any substance then putting that person into treatment in a substance abuse facility is probably the best option available. It s not an impossible task to make that person get relieved of his addiction and walk freely as a normal person. Also the task is not very easy. The person in treatment needs all the moral support that can be given and the person should be made to understand the importance of living a life free of addiction. Normally a person addicted feels that he/she should stay away from people and it is our responsibility that we take care of our beloved ones and make them feel that we care for them and make available all the facilities that is required to relieve them from the addiction. The time spent in a substance abuse facility is precious as the person coming out of it comes back as a normal human and leads life like they once did. Not many people feel confident about their recovery while some go in with a mindset of recovering from the addiction. Even after recovery many people have not felt it positive to walk back and lead a normal life owing to the time they spent during the addiction. The bottom-line is that treatment given to an addict results in two things. It either makes them or breaks them it is depending on how they take it and with what attitude they went into the facility that matters. Management Of Substance Abuse Addiction to substance abuse is something that has become a very common issue now days. Also there has been an increase in the number of treatment facilities that avail rehabilitation to people with this addiction. When a person is admitted into this facility there are many professionals who deal with these addicts talk to them on a personal basis to know how they came in contact with the substance. Where they into it on their own or where they influenced by some other. All this helps the professionals to understand the extent of addiction and the mindset the patient has regarding the treatment of the addiction. Individual treatment is something that has to be given to every drug addict and this is required because the level of addiction and the way they were introduced to this substance might change from one person to the other. Hence it is required that each person is individually spoken to and dialogue is made with the addict. This is done because the therapists have only this way to know more about them and thereby find a way to recover from this addiction. Also one cannot recover from addiction without a moral support from people close to him. Thus the staff attending the person needs to decide on who the visitors are going to be and the type of conversation they are going to make with the person. This is the most important phase as the person needs to gain self esteem and self belief that he/she will be able to recover from this addiction. There are addicts who understand their problem and feel the need to discuss their problem with a professional. It is to be kept in mind that these addicts need to have a good rapport with these therapists. It is only by a combined effort of the addict and the staff that they will be able to come out of this addiction. Symptoms Of Substance Abuse One of the most serious issues in today s world is substance abuse. People with substance abuse addiction not only harm themselves they also pose as a threat to people living close to them. The best way to ensure safety is to make sure that one is able to recognize the signs that indicate substance abuse. There are a few areas which one must look into keenly to find out about the substance abuse. Finding out irregularities in these fields might give us a greater chance in finding out whether the person is under the influence of substance abuse or not. The first thing that one must look into while investigating for substance abuse is the person s performance in doing tasks. The next thing to check is the person s behavior with people around him. There is variety of behavior changes that one can notice if a person is under influence. It can be a low morale, arguments with the co employees, lack of memory and other signs. All this might indicate that a person is under influence or is in a state of hangover. The next thing to be noted is the physical signs. These can mostly confirm a person s influence over a substance. The first thing is to note whether the person s eyes is bloodshot or watery. Then check whether the co ordination of his body parts synch and also look for co ordination in speech. Also if the person shows extreme fatigue or extreme stimulation then the person might be under influence of a substance. Also one should have a keen look into the person s belongings and should carefully check if the person is in possession of any materials such as syringe, needles, pipes, lighters, etc. if a person is using such items often then there is a higher probability that the person is addicted to a substance. Overcoming Substance Abuse Substance abuse is the consumption of a substance more than the prescribed amount. Normally consumption of substances can give a person a special kind of sensation. But due to greed for more one might end up consuming too much and get dependent on it. Normally people consume drugs and alcohol just to get away from emotional stress and at times end up going too far. Continuous consumption of these drugs and alcohol may lead to not only deterioration in health they also lead to decline in a person s social life. It may weaken relationship and may depreciate a person s respect in a community. It will lead to weakening of relationships with loved ones and let down rapport with colleagues. Taking into account these entire effects one must consider throwing away the addiction from such substances in order to maintain their health and ensure constant participation in social life. Thus one must plan and look for the type of treatments they are going to take in order to recover from this addiction. The most important step involved is detoxification which ensures good recovery. The dosage injected into the addict will not affect body organs as they get out of the body quickly. There are two types of detoxification. One is inpatient detoxification and the other is outpatient detoxification. The inpatient detoxification should only be done in a rehabilitation center or in a hospital. This is because the type of detoxification used varies and it requires special facilities to be administered into a person s body. This is generally recommended for people who have been addicted for a long time while the outpatient is for people with mild addiction but this also requires a professional who can administer is safely. While overcoming the addiction it is important that we have enough information on the withdrawal symptoms that one will face. Once they start kicking in one should know how to deal with them and what kind of remedies one should take in order to get out of the pain without getting into addiction again. Reasons For Substance Abuse Many people feel that people under substance abuse are social burdens and cause problems to social community. They feel the abusers are people who are morally weak, and are people who require assistance to lead a better social life. The problem is that most people chip away most of the facts and come to a conclusion just based on the behavior and attitude of the addict. They do not go into understanding the root of the problem and just give away conclusions based on what they see. But the real problem that has forced people to go into addiction may not be moral weakness it can be something else that has lead to them taking such a drastic decision. The most common reason that recovered people come up with is that they heard a rumor which claimed that consumption of a particular drug enhanced the self esteem of a person and make the person feel better by striking the person s pleasure sensors. The substances consumed provide different types of sensation and each varies with the substance. Moreover there are many people who choose the consumption of restricted substances with the hope that they will be able to come out of the stress and tension they have in their life. The stress caused could be due to emotional problems or due to workload. The abuse of substances due to stress related reasons is the most typical reason for a person becoming a habitual consumer of abused substances. In today s world as it has been seen many times teens and adolescents are the ones who have been affected most defenseless to these substances. Though this age group has been the most vulnerable the other people of this group are also equally susceptible. Substance abuse is not an age related problem it can affect any person of any age. Even people who are icons and are considered mentors by many are exposed to substance abuse as they face a lot of stress and related problems. How To Overcome Substance Abuse Substance abuse normally refers to the over dosage of a substance in comparison to the prescribed quantity. Mostly abuse is referred to drugs and other illegal products but many people forget that even products like Vicks inhaler can be used as a substance which can be abused. Also people can rely on alcohol and prescription drugs and this is also a dangerous addiction. For a very long time people who indulged in substance abuse were considered immoral beings and were placed away from the community. They were being made ashamed for their doing and this made them refrain from meeting any person even from their family. But today substance abuse is considered as a disease of the brain where it has become reliable for a particular substance and it cannot live without it. These substances also work in a similar manner and they also bond with the brain like a normal medicine and once the supply of these substances stop it becomes difficult to let go. These substances are responsible for producing certain neurotransmitters in the brain and this brings about a feeling of being drunk and feeling high. It can also make a person feel relaxed or feel highly excited. Because substances like this produce such neurotransmitters and produce certain emotions it becomes difficult for a person to live without these emotions and craves for more thereby creating an addiction for such substances. Fortunately for people who are addicted to such substances there are facilities which help them to get rid of these addictions. It is entirely dependent on a person whether he will come out of the facility a responsible person and the one who he really was. These facilities are available to anyone who wants to get rid of these addictions and if the person feels he can get rid of the addiction and co operates with the therapists in that facility then there is a great possibility that the person comes out a renewed person. Help With Substance Abuse Facilities Substance abuse facilities are centers which treat people with addiction to certain substances. Substance abuse generally means the overdose of certain substances than the prescribed amount. Too much consumption of a certain substance makes the body rely on it and it thereby becomes difficult for a person to get rid of the substance. Substance abuse facilities helps a person get rid of these addictions and has proved to be very effective when it comes to removing addictions such as this. There are many ways that a person can be treated for substance abuse and the most common method used is detoxification. Detoxification is the process of administering certain chemicals into the body which try and remove the substances and then get out of the body. The detoxification agent used is not addictive and it gets out of the body quickly. There are two ways in which a person can be detoxified the first is inpatient detoxification and the other is outpatient detoxification. Inpatient detoxification generally is done in hospitals and rehab centers and they require certain equipments to be administered. They are normally for people who have been addicts for a real long time. The outpatient detoxification is for mild addicts and it does not require equipments but the administration should be done by an experienced therapist. Also there is the twelve step method to recover form substance abuse. This task involves twelve tasks which a person must follow in order to recover from drug abuse. When a person follows the twelve steps the person learns that addiction is something he can control and one can recover from addiction only by abstaining from it. It teaches the addicts to learn from their previous mistakes and makes him correct his mistakes thereby making him a better person. It lets him boost his self confidence and self esteem and makes a person feel no different from a normal human being. Stages Of Substance Abuse Substance abuse involves the addiction of many types of substance which includes a list of legal and illegal drugs. Legal drugs such as alcohols and prescription pills which contain sedatives are consumed over the prescribed level. Depending on the substance consumed a person can face different health problems. These substances are generally consumed by people in order to gain different mood alteration according to their wish. The substances consumed provide different moods. Some substances makes a person feel relaxed while some other makes a person feel more excited. In addition to this these substances produce a disability in the person s brain that makes the brain generate signals that crave for more of the same substance. This gradually leads to addiction. Normally people feel that they can come over their addiction and feel that the will not consume it the next time. But every time they fall for the addiction .And ultimately achieve a state where they have no control over the addiction. There are five stages in which a substance abuse gradually develops into and addiction. The first stage is known as experimentation where people start thinking that trying the substance once might not lead them to addiction. Normally experimentation starts at a very early age and at this age people might not know the effects of these substances. There are also other reasons why a person starts using these substances and it could be stress and related problems. The next stage deals with the regular use of these substances as one is not able to resist the emotions that they trigger. It could either be a happy feeling or sad one. But people just don t want to lose it and start consuming it regularly. The next stage deals with the over use of the substance and this is the stage where a person gradually starts losing control. The final stage of the or nearly the final stage is dependence in which the person is not able to survive without the substances and the body starts demanding for more and more of that substance. The final and the ultimate stage is addiction which makes the person get addicted to the substance and thereby lose any resentment that the person has towards that substance. Effects Of Substance Abuse Indulging in the over consumption of a toxic drug or any other addictive substance is known as substance abuse. This phenomenon has become a common issue in many parts of the world. The drug consumed causes a nervous imbalance and causes the person consuming it to experience a change in mood and this mood changes based on the type of substance used. The effects of these substances are detrimental to ones health. It affects both the physical and mental aspects of a person s body. There are many substances that can be abused and they are illegal drugs such as marijuana, cocaine and legal drugs such as alcohol, prescription pills and many other drugs. The initial reason for a substance reason for a substance abuse might be for fun or it might be for gaining emotional pleasure due to personal problems. It can also be for the fact that there might be stress and related problems and hence to relax a person may indulge in substance abuse. When a person indulges in substance abuse he/she feels a deep desire to continue consuming it. And it thereby becomes an addiction. Substance abuse can change the behavior of a person. Can change his perception of judgments and can create imbalances in physical control over the body and speech. The negative impacts of substance abuse can be seen at substance abuse facilities. Here the addicts face the withdrawal effects and are seen suffering of pain and poor health. One can clearly see the trauma in these people and the desperation to get hold of that substance. The body becomes numb and at times the person goes into a depreciated condition. People tend to forget their aim in life and they forget reason for living. It can change a person s mood immediately and the person can become violent and harm the people trying to tend them. More About Substance Abuse Substance addiction is something that has become a major social issue in many parts of the world today. This is a problem that does not have an immediate solution. The practice of drug abuse has increased in today s world because the world has become busy in their own work and don t have the ample time required to look into these matters with utmost care. Young kids without any guidance from their parents have become easy targets for substance abuse. There are a lot of symptoms that can indicate substance abuse. There are cases when it may be difficult to predict, these cases are mostly seen when the person starts hiding things from people. Mostly there are people who want to avoid telling people about drug abuse within their families. It mostly involves parents who don t want people knowing about their kids involved in substance abuse and thereby don t take proper care of this alarming matter and do not even admit them into a rehab center. Substance abuse has a profound effect on a person s health and is not something that must be left unattended to. It has adverse effects on the physical and mental health of a person. It changes a person s behavior and affects the person s stance and also affects the way he speaks. Their perception of things changes and at times they have a sudden change in emotions and they get too violent and harmful. There are various treatment programs that are available to treat people addicted to substance abuse. The programs provided are either residential or are outpatient treatment. The treatment period normally ranges from about a month two three months. The time period mostly depends on the level of addiction. These treatment procedures mainly treat the inner man present in a person. It helps a person regain his very own self and helps him realize the mistakes he made and makes correct the mistake. Evaluating Substance Abuse Many people around the world have experienced a lot of substance abusing cases .to get out of substance abuse is not an easy thing for that professional counseling and medication is needed. But evaluation of substance is not as we think. It is a tedious process and normally doctors don t opt for this process they can find out about a person involving in substance abuse without any test s but just to satisfy people they go for this evaluation. But it is recommended that a person undergoes this test in case a person is being admitted to a rehab center. The test is common in every place and the test is called CAGE test. The test at first looks very easy and one feels that it is not very difficult. There are four questions that is involved during a CAGE test. The first question that is asked is whether a person has ever had the intention to cut down on drinking? Has the person ever been annoyed by the criticism they face towards drinking? Has the person ever been guilty about drinking? Has the person ever had a drink in the morning? Based on the answers given by the person the doctors can decide whether the person is addicted to drugs or not. There are many other methods to evaluate if one is abused to a substance or not. The many methods available are the MIST method, the MAST method. These methods are highly efficient in finding a person s addiction towards addiction to a substance. Based on this it is decided whether he should be admitted to a rehab or should he be sent to a outpatient treatment where one is treated in their home only. The rehab centers are also dedicated and they provide the right type of treatment based on the level of addiction and the rehab gives an assurance to bring back that person to normal and help him recover from that person s addiction.

Trade off theory and pecking order theory

Trade off theory and pecking order theory The way we think about capital structure in the modern day is based around the Modigliani and Miller(MM) theorem. It states that a market absent of tax, bankruptcy costs and asymmetric information, and in an efficient market, a companys overall market value will not be affected depending on how it is financed. This then forms the basis of the trade off theory and the pecking order theory. As there is no perfect market conditions each aspect will have an effect based on the way the capital is structured. There are two theories behind the way the structure should be controlled, the pecking order theory, which was created by Stewart C. Myers and Nicolas Majluf in 1984[1], and the trade off theory, which was considered to be pioneered by back to Kraus and Litzenberger but many including Modilgliani himself are understood to have developed the theory. The way that a companys finances are structured is particularly important in light of the latest world recession. As seen in the Asian crisis in 1997 where all share markets became very volatile. It is not that capital structure has a large affect on a causing financial crisis, but rather that it will decide the impact on a firm during the financial crisis. This is relevant especially in the banking industry where assets are put under severe strain during a crisis [2]. I have chosen to approach the issue by setting out the basics of the theorys and their respective advantages and disadvantages, along with the premise behind why they are valid in capital structure. It will be backed by empirical evidence conducted from studies to back up my proposals. Pecking order theory suggests that companies should prioritise the way in which they raise finance. The pecking order relates to the hierarchy that the company follows, from the most appropriate to the least. The pecking order claims that the least preferred method is through equity financing. Rather to initially use internal sources and then issue debt until it is no longer suitable. The basic idea was developed around the original the Modigliani and Miller theorem. In contrast though a true market does not poses the same attributes as the MM theory. From the original paper by Myers and Majluf (1984) [4] developed a model that showed that capital structure was designed to limit the inefficiencies of caused by informational asymmetries. The informational asymmetries states that a manager will know more about the assets of a firm and their future growth prospects than the average outside investor, causing inequality in the market. From Murray Z. Frank Vidhan K. Goyal (2002) [6] I have established that though debt on the other hand is subject to minor adverse problems, equity causes a major adverse selection problem. For an outside investor, equity is construed to be riskier than debt. Equity finance premiums have the higher negative consequence on the firm, and as it is virtually impossible to finance fully from Therefore, an outside investor will demand a higher rate of return on equity than on debt. Thus leading to the pecking order of finance structure. To confirm the theory on asymmetric information, Viet Anh Dang [5] put forward that this model leads to a potential unfavourable selection problem due to the risk of the method of finance. Resulting in the fact that, investors will predict a decision not to issue securities to signal good news and vice versa. This problem leads to a pooling market equilibrium in which new shares can only be offered at a marked-down price. The empirical specification for the test takes the following form: it PO it it  Ã¢â‚¬Å¾D â‚ ¬Ã‚ ½Ã¢â€š ¬Ã‚  Ã‚ Ã‚ ¡Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚ «Ã¢â€š ¬Ã‚  Ã‚ Ã‚ ¢Ã¢â€š ¬Ã‚  DEF â‚ ¬Ã‚ «Ã¢â€š ¬Ã‚  Ã‚ Ã‚ ¥Ã¢â€š ¬Ã‚  (III-9) where it  Ã¢â‚¬Å¾D denotes net debt issued, it DEF cash flow deficit in year t (all variables in levels) and it  Ã‚ ¥Ã¢â€š ¬Ã‚  the well-behaved error term. In equation (III-9), the strict version of the pecking order theory holds if  Ã‚ ¡Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚ ½Ã¢â€š ¬Ã‚  0 and â‚ ¬Ã‚ ½Ã¢â€š ¬Ã‚  1 PO  Ã‚ ¢Ã¢â€š ¬Ã‚  , i.e., when the deficit in cash flow is entirely offset by the change in debt. The financing choice should be in favour of the financing instruments that are less risk and less sensitive to mis-pricing and valuation errors. Where again we find that equity is the most prone to inaccuracy followed by debt and finally internal sources which are absent of mistakes in valuation. The earliest accredited study that found empirical evidence supporting all these theories was conducted by Baskin. J (1989)[6], this then led to further studies, though these have resulted in conflicting evidence as to the legitimacy of the theory. In the original Myers Majluf (1984)[4] study the table below lists how firms were financially structured It shows that firms had adopted the pecking order method to a degree by selecting to finance internally first followed by debt then last resort equity finance, but as this is a summary of countries each individual firm will differ. This is the exact problem with the pecking order theory, it isnt individually tailored to best suit each business. This was proved by the table below Ziad Zurigats (March 2009) study of the differing effect pecking order theory had on small and large firms. His findings showed, the estimated coefficients are lower for PDEF (0.421 and 0.592) for small and large firms respectively) than for NDEF (0.569 and 0.648), implying that small and large Jordanian firms are less sensitive in increasing debt for financing than in reducing debt for soaking up surplus. However, as cleared, small Jordanian firms are less sensitive than large ones in increasing debt to finance their positive financial deficit and retiring debt to soak up surplus. The Trade-Off Theory of Capital Structure employs to the concept that a firm is able to manipulate the levels of debt and equity finance by balancing the costs and benefits to be most advantageously structured. As mentioned in the introduction it goes back to Kraus and Litzenberger who considered a balance between the dead-weight costs of bankruptcy and the tax saving benefits of debt. To ensure that the debt is balanced the firm will consider the marginal benefits and the marginal costs, as the more debt is taken on the marginal benefit will decrease while the marginal cost will increase. When the marginal benefit is equal to the marginal and the firms value is optimised, there will be a trade off as to the point that debt becomes more detrimental than equity which will form the d/e ratio for the firm. As stated before under a perfect market condition with no tax the finance structure is irrelevant, but as tax comes into play equity is again favoured in the trade off theory, this is because interest on debt reduces the tax liability of a firm in turn increasing the profits, this is called a tax shield. The cost of financial distress should equal the tax shield at the point of equilibrium. The custom economic model used when interpreting the trade-off theory is the partial adjustment model (Jalilvand and Harris, 1984; Shyam-Sunder and Myers, 1999; Ozkan, 2001 and Fama and French, 2002), which is made up of two parts; a static part to describe how the ideal amount is determined and the dynamic partial adjustment process: Where, yt = a firms financial ratio in period t, yt-l = a firms financial ratio in period t-1, yt*= the target level of a particular ratio ÃŽÂ » = the speed of adjustment coefficient i.e. how fast the firm returns to its target debt ratio3 Empirical Evidence supporting the trade off theory Here we can see that from the research done in the paper the table is drawn from, it has been found that there are some explanatory variables which do not act as expected. Although this may be interpreted as the trade off model being inaccurate, there are still factors which do affect the businesses total debt as expected. The most important factors drawn from the table above are the business size, total debt ratio, effective tax rate and the non-debt tax shields. The reason why explanatory variables such as growth opportunities do not act as expected may be due to the differing size of businesses examined; splitting the data in to business size may be advantageous here. The benefit of the trade off theory is that it is unique to each companys situation, for example a company with safe, tangible assets that also generate high levels of income would likely seek a high debt target ratio as to fully Companies with safe, tangible assets and plenty of taxable income to shield ought to have high target ratio to fully utilise the tax shield. In the opposite direct a company that is Unprofitable with risky, intangible assets will usually rely on equity finance as it becomes the less risky option. As the uncertainty surround its income could make the tax shield non existent One key flaw that was not in the original Modigliani and Miller (1963) study is that of the effect on personal income tax. Miller (1977) took this into account in his study and proved that in fact the total tax saving at the point of equilibrium was zero when income tax increase was applied to the tax shield. The following equations shows that the tax shield can even be detrimental for example if the tax rate on stock is less than the tax rate on bonds the result will be a negative impact on profits. The author further suggests that there should be no optimal debt ratio for any individual firms. Where G ­L is the leverage gain for the shareholder Tc is the corporate tax rate Tps is the personal income tax for common stock TPB is the personal income tax for bonds BL is the market value of the levered firms debt There have been questions to the mutual exclusivity of the two theories, Carmen Cotei and Joseph Farhat (2009) studied this theory, and their conclusion was that The empirical results of the factors affecting the proportion of debt financing (reduction) and factors affecting the rate of adjustment imply that the pecking order theory and the trade-off theory are not mutually exclusive. Firms may strive for a target debt ratio range and within this range, the pecking order behavior may describe incremental decisions or, over time, firms may switch between target adjustment and pecking order behavior. Conclusion reflection on theories which is best suited? Does it differ between businesses, are they both legitimate ways of structuring capital? In reflection it is clear that both theories offer a potential theory of dealing with capital structure, but the empirical evidence seems to suggest that the trade off theory is the more well rounded option. As it holds well in the custom economic model, outperforming the pecking order model in the key areas. There has been also some convincing proof in favour of the relationships between gearing and the conventional determining factors (except profitability), as predicted by trade-off structure. Non-debt tax shields and growth opportunities have been argued to be inversely related to debt ratio, while collateral value of assets and size are found to have positive effects upon gearing. I do believe that to some degree the theories are simply a base to capital structure, and that each individual company must do its own assessment on the best way to structure capital in order to produce the best results.

Banana Ghost :: essays papers

Banana Ghost "My, my what a lot of work I have to do" said Mr. Billy Banana. Mr. Billy Banana certainly lived up to his name. He just simply loved bananas and ate them for every meal banana and egg sandwich for breakfast, sausages and banana crackers for lunch, fried banana for tea and curry chicken, banana porridge and vegetables for dinner. As he loved bananas, he wanted to have a job to do with bananas. "Eureka!" he cried. " I'll have a fabulous and splendid banana factory!" "Yahoo!" he yelled, sounding just like a little kid. And so, he got his job. His appearance was as nutty as his appetite. His brown hair, that somewhat looked like banana fritters, was crispy and had a tinge of yellow in it. He had a beard and a moustache that made him look like a walrus. His chestnut eyes were full of laughter and fun. He was creative and that was all what he needed in order to design new objects. He was a daring inventor, ready to try out fun things. Mr. Banana thus had a building that manufactured all kinds of banana foodstuffs. He created banana sweets that tasted delicious, different kinds of banana biscuits and best of all, he created banana sweets that when you chewed them, they changed their colour. After he made all these delicious foodstuffs, he sold them off to shopkeepers. Kids could be seen going to shops everywhere and buying these lovely banana sweets. His banana sweets were extremely famous. Not far off, there was a ghost who loved anything to do with bananas. He loved eating bananas and was always haunting places which had bananas. "Ooh! They are probably finger-licking good!" he exclaimed when he heard about Mr. Banana's foodstuffs. "I'll go there tonight." He decided after thinking for a moment. "Only I hope he doesn't freak out when he sees me. I actually try to be nice when taking people's things, you know." That night, the ghost went to Mr. Billy Banana's building. Creeping quietly, he tiptoed to where Mr. Banana slept. "BANG!" The ghost accidentally bashed himself onto Mr. Billy Banana's precious machine. Mr. Billy Banana woke up and when he saw the ghost, he yelled for help. The ghost said, "Please don't be afraid. I just would like to have some of your banana foodstuff." Brave Mr. Banana said gallantly, "If you want to have some of my foodstuff, you must promise never to steal any of my food without my permission. You must also promise to help me when I am in need of any help Banana Ghost :: essays papers Banana Ghost "My, my what a lot of work I have to do" said Mr. Billy Banana. Mr. Billy Banana certainly lived up to his name. He just simply loved bananas and ate them for every meal banana and egg sandwich for breakfast, sausages and banana crackers for lunch, fried banana for tea and curry chicken, banana porridge and vegetables for dinner. As he loved bananas, he wanted to have a job to do with bananas. "Eureka!" he cried. " I'll have a fabulous and splendid banana factory!" "Yahoo!" he yelled, sounding just like a little kid. And so, he got his job. His appearance was as nutty as his appetite. His brown hair, that somewhat looked like banana fritters, was crispy and had a tinge of yellow in it. He had a beard and a moustache that made him look like a walrus. His chestnut eyes were full of laughter and fun. He was creative and that was all what he needed in order to design new objects. He was a daring inventor, ready to try out fun things. Mr. Banana thus had a building that manufactured all kinds of banana foodstuffs. He created banana sweets that tasted delicious, different kinds of banana biscuits and best of all, he created banana sweets that when you chewed them, they changed their colour. After he made all these delicious foodstuffs, he sold them off to shopkeepers. Kids could be seen going to shops everywhere and buying these lovely banana sweets. His banana sweets were extremely famous. Not far off, there was a ghost who loved anything to do with bananas. He loved eating bananas and was always haunting places which had bananas. "Ooh! They are probably finger-licking good!" he exclaimed when he heard about Mr. Banana's foodstuffs. "I'll go there tonight." He decided after thinking for a moment. "Only I hope he doesn't freak out when he sees me. I actually try to be nice when taking people's things, you know." That night, the ghost went to Mr. Billy Banana's building. Creeping quietly, he tiptoed to where Mr. Banana slept. "BANG!" The ghost accidentally bashed himself onto Mr. Billy Banana's precious machine. Mr. Billy Banana woke up and when he saw the ghost, he yelled for help. The ghost said, "Please don't be afraid. I just would like to have some of your banana foodstuff." Brave Mr. Banana said gallantly, "If you want to have some of my foodstuff, you must promise never to steal any of my food without my permission. You must also promise to help me when I am in need of any help

The Chocolate Tree :: Botany

The Chocolate Tree Fossil records are unable to provide information of on the center of origins of the cacao tree. The cacao tree is in the Sterculiaceae family. The first growers of the cacao pods were probably the people who entered the lowland rain forests of the Amazon Basin between 10,000 and 200 B.P. The full name of the cacao tree is Theobroma cacao. Most of the information of the cacao have been derived from the cultivated crop. The life and reproduction life cycle of Theobroma cacao is identical to a tropical rain forest tree species. Cacao grows optimally in minimal moisture and shade. Cacao is dispersed in small, medium and large areas. This is probably the result of animal dropping the seeds after eating the tasty inside of the pods. Cacao pods are very diverse in morphology. These morphological difference suggests genetic differentiation. The Amazon region is considered the birthplace of the wild cacao tree. T. cacao appeared with the arrival of human species in South American. It have been suggested that T. cacao is the result of a cross between T. pentagona and T. leiocarpa. Cacao was not been selected for its seeds, but instead for the pulp surrounding them. Selection for the seeds begin in Mesoamerica. The seed pulp was used as a beverage. Cacao cultivation by the Indians, notably the Aztecs of Mexico and Mayas in Central America was established before the New World was discovered. The next question would have to be how did the cacao tree cross the sea. Christopher Columbus brought a cacao beans back to Europe from the Gulf of Honduras. This cargo of cacao beans were the first specimens to enter Europe. The Aztecs settled in Mexico two hundred years before Cortes conquest of Mexico. When the Spaniards invaded the palaces of Montezuma they found a large number of cacao beans. The cacao beans were used in a drink called chocolatl. The was typically the drink for the most elite in the society. This is the treatment that was done on the cacao prior to storage. Sun dried beans that had been roast in pots. The husk were removed, the nibs were placed on flat or concave stone, then ground and shaped with a roller. The fluid mass is then mixed with corn and spices and made into cakes. The chocolatl drink is made from a piece of the cake mixed with water and mixed with a molinet.

Echr

The Right to Freedom of Expression and Religion This chapter includes two rights: a) the freedom of opinion and expression and b) the freedom of conscience and religion. Although these are two distinctive rights, they are in the same group as they both entail essential conditions for individual personal development. These rights are juxtaposed because freedom of expression is a quintessential aspect of the freedom to hold, practice and share one’s religious beliefs. It is important to note, however, that the freedom of expression is subject to more restrictions than the freedom of religion.A. The right to freedom of opinion and expression The freedom of expression is a right without which other rights are difficult to acquire and defend. The right to freedom of expression is rooted in the 17th century struggle of European legislators for freedom of speech. The world has seen a continuing struggle for the freedom of expression, including the freedom of speech and freedom of the press, often going hand in hand with the endeavour to limit the power of governments.The freedom of expression can be considered an essential aspect of the individual’s defence against government, just as the suppression of the freedom of expression is essential to tyranny. Human rights defenders also rely heavily on this right to challenge government indifference to or infliction of human rights abuses. As freedom of expression is a foundation for religious and political activities, it is often exercised in concert with the right to freedom of thought and assembly. Under present international Conventions, state obligations in relation to freedom of expression are absolute and immediate.At the same time, as with other forms of liberty, completely unrestricted freedom of expression may lead to the infringement on the rights of others. The freedom of expression has been hedged in by a number of limitations and restrictions, often more extensively than other rights. Historicall y, most limitations have dealt with the expression of sentiments contrary to prevailing institutions or religious, political or other beliefs. In addition, in times of war, governments often restrict the freedom of expression in the interest of national security.Like in the US Supreme Court decided in the Schenk vs. United States- case. As a cornerstone of democracy, the complexity and importance of freedom of expression has lead to extensive case-law before national courts and international supervisory mechanisms. Standards International human rights law recognises a spectrum of expression, ranging from those forms that must be protected to those that must be punished. Article 19 of both the UDHR and the ICCPR establish the freedom of opinion and expression.Article 19 UDHR stipulates: ‘everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers. ’ The regional Conventions also contain provisions regarding the freedom of expression: Article 10 ECHR, Article 13 ACHR and Article 9 ACHPR. The freedom of expression and opinion is a complex right that includes the freedom to seek, receive and impart information and ideas of all kinds through any media.The exercise of this right ‘carries with it special duties and responsibilities’ (see Article 19 ICCPR and Article 10 ECHR). Therefore, in general, certain restrictions or limitations on the freedom of expression are permitted under human rights law. Thus, Article 20(2) of the ICCPR requires states parties to prohibit ‘advocacy of national, racial or religious hatred that constitutes incitement to discrimination, hostility or violence. ’ CERD also requires states parties to prohibit certain hostile expressions.Article 19 ICCPR stipulates that these limitations ‘shall only be such as are provided by law and are necessary: a) for respect of the rights or reputations of others; b) for the protection of national security or public order (ordre public), or of public health or morals’. In addition, Article 10 ECHR explicitly gives the state broad discretion in licensing of the media. In the Inter-American system, the Inter-American Court has dealt with freedom of expression in Advisory Opinion No. 5 on ‘Membership in an Association Prescribed by Law for the Practice of Journalism’.A strong correlation between freedom of expression and the right to gain access to information in order to form and express opinions has been recognised in the Inter-American System. In June, 2006, the OAS General Assembly adopted a Resolution that ‘urge[d] the States to respect and promote respect for everyone’s access to public information and to promote the adoption of any necessary legislative or other types of provisions to ensure its recognition and effective application. â€⠄¢ In the African system, the ‘Declaration of Principles on Freedom of Expression in Africa’ was adopted by the African Commission in 2002.It stresses the ‘fundamental importance of freedom of expression as an individual human right, as a cornerstone of democracy and as a means of ensuring respect for all human rights and freedoms’. The Danish Cartoon Controversy What has become known as the Danish cartoon controversy exemplifies the precarious balance between freedom of expression and the repression of expression. In 2006 a Danish newspaper published a series of cartoons depicting the prophet Mohammed as a possible terrorist, in one instance with a bomb in his turban.Many Muslims were outraged because depictions of Mohammed are prohibited in the majority of Muslim communities and likening Muslims to terrorists could incite discrimination and prejudice. Other factions upheld the right of the paper to publish the cartoons as a freedom of expression issue. Th e Danish cartoon incident sparked mass demonstrations throughout the world resulting in death and extensive damage of property in addition to sparking a fiery debate on international law, freedom of expression and permissible limitations of this right. * SupervisionThe freedom of expression is reduced by possible limitations under several international standards mentioned above. Moreover, freedom of expression and its internationally accepted limitations can be distorted by government initiatives through propaganda, control of the media and various other measures aimed at restricting the press, e. g. , licensing requirements, economic measures or restrictions on access to information. The right to freedom of expression has engendered a substantial body of case-law, in which both the right itself as well its limitations have been further defined.Under the auspices of the European system, the European Court has stated that freedom of expression:  Ã‚   [C]onstitutes one of the essent ial foundations of such a (democratic) society, one of the basic working conditions for its progress and for the development of every man. [†¦ ] It is applicable not only to ‘information’ or ‘ideas’ that are favourably received or regarded as inoffensive or as a matter of indifference, but also to those that offend, shock or disturb the State or any sector of the population.Such are the demands of that pluralism, tolerance and broadmindedness without which there is no ‘democratic society’ (Handyside v. The United Kingdom). Many cases have been brought before the former European Commission and the Court regarding the freedom of expression; several deal with the rights of journalists to freedom of expression. Case law zoeken!!! In the Chorherr judgment of August 1993 the Court dealt with an application concerning the applicant’s arrest, detention and conviction for breach of the peace after he had refused to stop distributing leaflets and exhibiting placards at a military parade.The Court held that the interfer- ence was â€Å"prescribed by law† and that there were legitimate grounds based on Article 10  §2 (prevention of disorder) for regarding the interfer- ence as â€Å"necessary in a democratic society†. The Court has established that, according to the protection granted by the American Convention, the right to freedom of thought and expression includes ‘not only the right and freedom to express one’s own thoughts, but also the right and freedom to seek, receive and impart information and ideas of all kinds’ (Lopez Alvarez et al. . Honduras). On this note the Court has held that the state has a positive obligation to ensure that laws and regulations governing restrictions to access to state-held information comply with the Convention’s parameters and restrictions may only be applied for the reasons allowed by the Convention; this also relates to the decisions on thi s issue adopted by domestic bodies (Claudio Reyes et al. v. Chile). In the African system, the African Commission on Human and Peoples’ Rights has addressed the right to freedom of expression in diverse realms.It has, inter alia, found the detention of members of opposition parties and trade unions under legislation outlawing all political opposition during a state of emergency a violation of the freedom of expression; it has found that the failure of a state to investigate attacks against journalists violates their right to express and disseminate information and opinions and also violates the public’s right to receive such information and opinions (Sir Dawda K. Jawara v.The Gambia, Communications 147/95 and 149/96). The Commission has held that state harassment with the aim of disrupting legitimate activities of an organisation that informs and educates people about their rights constitutes a clear violation of the right to freedom of expression. Recognising the impo rtance of freedom of expression, international fora and national governments have sought to promote additional standards to protect particular elements of this right.Several governments have enacted legislation to improve access to information; to provide adequate access to media; to protect employees from reprisals for disclosing illegal activities of their employers; and to provide data protection so that individuals have access to their personal files held by public authorities and to ensure that such information is withheld from all persons not expressly entitled to it. International organisations have addressed the implementation and supervision of the right to freedom of expression by, for instance, appointing experts on the issue.B. The right to freedom of conscience and religion The guarantees of freedom of conscience and religion are closely related to other substantive rights. For instance, the rights to freedom of expression, assembly and association are fundamental to ho lding religious beliefs and practising one’s religion. Thoughts and views are intangible before they have been expressed, and convictions are valuable for a person only if he or she can express them. The private freedom of thought and religion is an absolute right that does not permit any limitation.The guarantee of the value of freedom of thought and religion implies that one cannot be subjected to treatment intended to change one’s process of thinking, be forced to express thoughts, to change opinion, or to divulge a religious conviction; thus, the right to freedom of thought, conscience, religion, belief and opinion is closely associated with the right to privacy. No sanction may be imposed for holding any view, or for changing religion or conviction; and the freedom of thought and religion protects against indoctrination by the state.The public aspect of the freedom, the right to manifest one’s belief in worship, observance, practice or teaching, is subject to limitations and defining the meaning of the freedom is complex; for instance, may refusal to serve in the military or pay taxes be justified on grounds of religion? Many states include guarantees for the right to freedom of thought, conscience, religion and belief in their constitutional traditions; in laws and regulations provisions are incorporated to prevent and punish interference with legitimate manifestations of religion or belief.Nevertheless, violations of the principles of non-discrimination and tolerance in the area of religion or belief are extensive; millions of people enjoy the freedom of thought, conscience, religion and belief only to a limited extent. Most human rights Conventions do not allow governments to impose as many limitations on freedom of religion as on comparable rights such as freedom of assembly and freedom of expression.In the last decades increasing political attention has been given to the freedom of religion, notably in Europe, in the light of rel igious intolerance. 1. STANDARDS One of the first standards for protection against religious intolerance was the founding document of the Republic of the United Netherlands, the Union of Utrecht from 1579, which stipulated that no one will be persecuted because of his religion. With the founding of the United Nations, protection against religious intolerance found its way into modern international standard setting.All regional Conventions contain provisions regarding the freedom of thought and religion: Article 9 ECHR defines the right to freedom of thought, conscience and religion in the same words as Article 18 ICCPR. The First Protocol to the ECHR includes a provision ensuring education and teaching in conformity with the parents’ religious and philosophical convictions. Supervision The international supervisory bodies have dealt with a number of communications regarding violations of the freedom of thought and religion.The Human Rights Committee has dealt with several ind ividual communications regarding freedom of thought and religion. For instance, the Committee has found forbidding prisoners wearing a beard and worshipping at religious services and taking away their prayer books a violation of this right. The Committee affirms that: ‘[T]he freedom to manifest religion or belief in worship, observance, practice and teaching encompasses a broad range of acts and that the concept of worship extends to ritual and ceremonial acts giving expression to belief, as well as various practices integral to such acts’ (Boodoo v.Trinidad and Tobago). The Committee has, however, found that requiring a Sikh who wears a turban in daily life to wear a safety-helmet at work does not violate his right to religious freedom (Singh Bhinder v. Canada). Similarly, the European Court of Human Rights held that refusing a Muslim medical student entry into classes and examinations in accordance with a school ban on head scarves upheld the principles of secularism and equality between men and women and was necessary in a democratic society (Leyla Sahin v.Turkey). In recent years the Committee has departed from its previous jurisprudence, stating that conscientious objection to military service can be derived from Article 18 ICCPR (General Comment 22). In this General Comment, the Committee, inter alia, ‘views with concern any tendency to discriminate against any religion or belief for any reasons, including the fact that they are newly established, or represent religious minorities that may be the subject of hostility by a predominant religious community’.The Committee states, inter alia, that Article 18(2) bars coercion that would impair the right to retain one’s religion or belief, including threats of violence and that designated state religions may not serve as justifications of violations of the right to freedom of religion. The ‘Declaration on the Elimination of All Forms of Intolerance and of Discrimination Ba sed on Religion or Belief’ stipulates that all states must take effective measures to prevent and eliminate discrimination on the grounds of religion or belief.Within the regional systems several cases regarding freedom of thought and religion have been brought before the supervisory mechanisms. The European Court of Human Rights has decided numerous cases regarding the right to freedom of conscience and religion, many of which have dealt with the freedom of religion in Greece. Article 9 protects non-religious beliefs; the Court has said that the values of the article are the foundation of a democratic society: ‘It is, in its religious dimension, one of the most vital elements that go to make up the identity of believers and their conception of life, but is also a precious asset for theists, agnostics, sceptics and the unconcerned’ (Kokkinakis v. Greece). Further to indoctrination, the Court has made a distinction between ‘improper proseltysm’ and â €˜bearing witness to Christianity’, the former possibly entailing brainwashing or violence (Kokkinakis v. Greece). Finally, in a controversial communication regarding assisted suicide, it was stated that freedom of thought under Article 8, that had hitherto included beliefs such as veganism and pacifism, could be applied to the applicant’s belief in and support for the notion of assisted suicide for herself.This was rejected by the Court as her claims did not involve a form of manifestation of a religion or belief, through worship, teaching, practice or observance as described in the ICCPR (Pretty v. The United Kingdom), citing, inter alia, a case where the European Commission had found that not all acts which are motivated by religion or belief constitute ‘religious practice’ (Arrowsmith v. The United Kingdom).In regard to the right to freedom of conscience and religion under the Inter- American system, the Commission has ruled on a number of cases con cerning Jehovah’s witnesses and legitimate limitations of the right. The Commission has found that prosecuting members of that religion for refusing to swear oaths of allegiance, recognise the state and its symbols and to serve in the military is a violation of the right (Jehovah’s Witnesses v. Argentina (Case 2137)). Case of Plan de Sanchez Massacre v. Guatemala (Series C No. 105)). The African Commission has also dealt with the freedom of religion; it has, for instance, found harassment of Jehovah’s witnesses and religious leaders, assassinations and death threats aimed at them and destruction of religious structures in violation of the right (Free Legal Assistance Group, Lawyers’ Committee for Human Rights, Union Interafricaine des Droits de l’Homme, Les Temoins de Jehovah v.Zaire, Communications 25/89, 47/90, 56/91, 100/93). It has also stipulated that the expulsion of political activists was denying them, inter alia, the right to freedom of co nscience in violation of Article 8 ACPHR (Amnesty International v. Zambia, Communication 212/98).

History of design Essay

The design history is commonly defined as the study of the objects in their stylish and historical context. This includes social, economical, technical, Cultural and aesthetic. The history of design has in it the study of all designed objects including the fashions, interiors, graphics designs, industrial and product design. The history of design has to incorporate the heroic criticism of its discipline in material culture establishment. History of design has played a major role in understanding the forma used methods of doing work until the discovery and innovations of machines in the 19th and 20th century. The role of machine in 19th and 20th century Machine is the most defining entity in the 19th and 20th century. Its entrance in the turn of the centuries was significance to the modern age and was facilitated by energy and its productivity. The innovation of the machines contributed to many changes including the shifting of people from the rural areas to the urban areas. This made people see the world in different perspective and felt as if everything was possible. The innovation of the machine had an effect to the labor practices. The aspect on which the work was being done changed, machines was viewed a savior as it would do more work at a shorter time compared to human and animals. The cultivation and tilling of land was made easy as machines would different types of work under control of one person and hence increased production. The labor practices on the other hand had some negative impact in the innovation of machines. The work that several people would be hired to do, would be done by one machine therefore contributing to the losing of jobs. (Dee, 2005) Industrial design can be defined as an applied art where aesthetic of large quantity of produced products can be improved for marketing. The industrial designer role is creating and executing design and solutions for problems of form, engineering, brand development, usability, sales and user ergonomics. The introduction of machine in the industrial design enables the given firm a chance to have mass production of products. In the 19th and 20 nth century, the introduction of machines enabled the crafts firms have more production therefore increasing profit margins. With the introduction of machines, some countries were able to put themselves in a competitive footing with other countries that had the same level of innovation. (Arthur, 1988) According to the Carma Gorman, an industrial design reader, logo has a shouting power to market the industry. The industrial designer should take into consideration the distinctiveness of the company in the market which may be determined by the designed logo. As the work of the designer is to create all the solutions that would ensure the industry has a competitive footage with others of the same field. Gorman, 2003) Innovation of machines increased efficiency in doing work. Much work could be done with the innovation of machine and be completed in a shorter time compared to work done manual. Due to high power production by the machine, some of the hard task could be done that could have otherwise required some people to accomplish. Besides doing difficult tasks, machine would do more work effectively compared to human or man power. Due to effectiveness of the machines, it was easy to predict how much work would be done and how much time would be taken to accomplish the task. Ornament is decoration detail that is mostly used to decorate or beautify part of a building or the interior furnishing. As this is done on various surfaces ranging from soft to hard surfaces like on stones, wood, metal, clay and plaster, it would require a machine to this king of work. Before the innovation of machines, this was done by hand which consumed much time and energy. The introduction of machines helped in making more complex designs on clothes, ceramics, furnishers, metalwork and on clay. (John, 1963) Machines have strengthened the cultural identity and have increased our standard of living by creating wealth in the economy. In the hierarchy of designs have gone to an extent of explaining how helpful machines are to our modern life. There has been a continued development and need for the machines to do the most complex work that cannot be done without the help of the machine. (Baker, 2007), Conclusions The innovation of machines has helped in the formation new tread of performing different duties. It was through the introduction of machine more complex work was done in a short time. This helped in improving on efficiency and increase in the quantity production.