Monopoly versus perfect markets Essay Example for Free

Monopoly versus perfect markets Essay This paper investigates the two extremes of market structures. A monopoly firm, and a firm which operates in a perfectly competitive market. We will compare features, similarities, differences, advantages and disadvantages. The monopoly firm I have chosen is Thames Water. This company is an accurate example, as it’s the sole supplier of the industry. The firm, is the industry. Thames Water supply water through peoples taps in and around London. Fyffe is my chosen firm in a perfectly competitive market. I think this is a good example. It sells bananas to supermarkets and food suppliers, who resell on to customers. The next two paragraphs explain the features of perfect competition, then a monopoly. â€Å"The theory of perfect competition illustrates an extreme form of capitalism. † (Sloman, 2007:113) There are many suppliers, who all only supply and produce a small fraction of the total output, of the whole industry. None of the firms have any power over the market. (Mankiw, 2001) Barriers to entry do not exist. Therefore firms can enter and leave the market freely. Apart from the money and time it takes to set up the business, there are no other obstacles. Both producers and consumers have perfect knowledge of the market. Therefore they both know prices which should be paid, quality which should be met, availability of the product. Market opportunities for expansion, and entry opportunities in the industry as a whole. The price Fyffe must charge for their bananas will depend upon the demand and supply of the whole market, not just Fyffe personal demand. Hence they have no power over prices. They must follow the market forces. (Sloman, 2007)Established firms in the banana industry have no advantage over firms who have newly entered the market. (Parkin, Powell, Matthews)â€Å"This means they can sell all the products they can produce at the market price, but none at a price which is higher. † (Sloman, 2007:114) If Fyffe raise their selling price above p1, their demand will drop to 0, because if Fyffe raise the price of their bananas, consumers will just buy from another firm selling at the current market price. Illustrated in diagram 2. (Beardshaw, 2001) All firms operating in the banana industry sell a homogenous product, all the firms in the industry sell an identical banana. The theory states there is not a great need for advertising or branding. (McConnell, 2008) I would agree with this statement in the context of bananas. Advertising is not needed as people will not look for a specific brand of banana. They all taste the same. However I think a firm in a market selling shampoos and conditioners would need a certain amount of branding and advertising so people choose their product and gain customer loyalty. In the shampoo industry products are not as homogenous. A pure monopoly owns 100% of the industry. Thames water have a great deal of power, and are price makers, thus they set the price to how much they want to charge. If the consumer cannot, or doesn’t want to pay the price, they have to go without the tap water. In the short run both perfect competition and monopolies can make economic profits, losses and supernormal profits. Only monopolies can manage to sustain super normal profits in the long run. â€Å"Persistant economic profits are called monopoly profits. † (Dobson, 2005:99) Monopolies can sustain supernormal profits and remain safe and unaffected by competition due to barriers to entry. Supply to the industry does not increase with new entrants. (Hunt, 1990). There are many types of barriers to entry. Thames water is known as a natural monopoly, meaning there are barriers to entry due to large economies of scale. (Sloman, 2007) Capital equipment is so expensive and large scale that only one sole supplier could manage to make a profit in the water industry. However Thames Water incurred low marginal costs once they are set up. â€Å"If average cost falls as output increases over the entire range of market demand its a natural monopoly. † (Dobson, 2006:100) â€Å"Each would have a very high average cost at a low output. † (Begg, 2005:134) Correspondingly Thames Water gain barriers to entry through lower costs. This is an artificial barrier. The firm is experienced in their field. Has good knowledge of their market, and will be able to gain the best rates of interest on finance, the best suppliers at the lowest costs, and lean methods of production. Other firms would struggle to compete. If a firm decided to set up and compete with Thames Water, and failed by going out of business there would be huge sunk costs. This occurs when high amounts are spent on capital expenditure, which cannot be used on another business venture. (Sloman, 2007) This is an example of exit costs. It would be a huge loss to the firm, and would discourage firms from entering the market. Thames water also have patents copywrite and licensing. The next two paragraphs explain the effect on demand for perfect competition, then a monopoly. For Fyffe the price charged for the bananas is equal to marginal revenue. Average revenue and demand are also equal to price. If average cost dips below average revenue the firm will earn supernormal profits. If demand is above where marginal costs and marginal revenue meet the firms will be making normal profit. See diagram 2. Normal profits cover opportunity costs of the owners money and time. If Fyffe set output below equilibrium marginal cost would exceed marginal revenue and profit would be lowered. If Fyffe raised output above equilibrium marginal costs would exceed marginal revenue and profits would also be lowered. See graph 1. (Dobson, 2005:99) The demand curve is elastic for the banana industry, but not perfectly elastic. Hence why it slopes downwards in diagram 1. If there is a rise in price for bananas, consumers will spend less on the product, and Fyffe will entail a fall in revenue. In contrast if the price of bananas drop, consumers will buy more of the product, and providing the firm is covering their costs they will receive an increase in revenue, because bananas can be relatively easily substituted by another cheaper fruit. Furthermore bananas will sell for a cheaper price when they are in season, due to a larger supply to the market in this period. Fyffe is perfectly elastic which is why their demand curve is horizontal. See graph 2. The firms prices are not affected by their output and their decisions do not affect the industry. (Ison, 2007) Firms must produce at equilibrium to maximise profits, which is where the market supply, meets the market demand, as illustrated in diagram 1. Short run â€Å"assumes the number of firms in the industry does not increase, as there is not enough time. † (Sloman 2007:114) When a firm produces quantity and price, where marginal costs, and average costs meet they are breaking even. See diagram 2. (Begg, 2005) Consumers are charged a price which is equal to what it costs the firm to produce the extra unit. See diagram 2. If the demand curve for bananas increases short term, the demand curve will shift to the right. See diagram 3. This results in a higher equilibrium and a higher selling price. As selling price has increased farmers will raise their output by increasing their variable costs such as labour and materials. This will result in a larger profit and profits are maximised. As illustrated in diagram 4. In contrast if the demand for bananas was to decrease, this would cause a shift to the left in the demand curve. See diagram 5. This results in a lower equilibrium for the industry, and a fall in the selling price. Consequently all firms in the industry including Fyffe would reduce output, by decreasing variable factors and the firm would suffer economic losses. As illustrated in diagram 6. (Dobson, 2005) If Fyffe or Thames Water are not covering their average total costs in the short run, they should carry on trading, but if they are not covering their short run average variable costs, it would be cheaper to temporarily close down. The theory is known as the short run supply decision. (Ison, 2007) In the long run any firm should close down if it is not covering its total average costs as it is loss making. Called the long run supply decision. (Begg, 2003) When demand increases and selling prices rise in the long term, existing firms are making supernormal profits. Several new firms will enter the market. The supply curve will shift to the right, and supply will increase, which will lower market price. As more new industries join firms reduce their output until they are making a normal profit again. Output of the whole industry will be larger now that more firms are in the market, and there is no incentive for firms to enter, or leave the market as breakeven profits are being made. Referred to as the entry or exit price. When there is a decrease in demand, prices will fall, and firms will reduce output to minimise losses. Eventually due to losses some firms will leave the market which lessens supply and the supply curve will shift to the left. This raises prices due to restricted output, and farmers will start to make normal profits again. So there are less firms and less output in the industry. (Dobson, 2005) In the long run there are no fixed costs in any industry, as firms can change their plant size or machinery. Resulting in a long run supply curve which is flatter than the short run. (Begg, 2003) If all firms operating in the industry restricted supply together increasing demand and prices, new firms would enter the market which would increase supply and lower prices. (Begg, 2005) Thames water are price inelastic, and have a low income elasticity of demand, because there are no close substitutes for their product, and water is a essential item. However they are not perfectly inelastic, as a rise in price will still amount to a small drop in quantity demanded. This means Thames water’s revenue will increase with a rise in price, and decrease with a fall in price. A profit maximising level of output is where marginal revenue is equal to marginal cost but rising up to the demand curve to obtain price. See diagram 9 (Sloman, 2007) The demand curve in diagram 9 represents the value of Thames water to customers, and the marginal curve shows the costs Thames water must pay. The marginal revenue curve must lie below the downward sloping demand curve as marginal revenue is less than price. The further the distance between the demand curve on the right hand side and the marginal revenue on the left the more inelastic the demand, see diagram 9. (Dobson, 2005) ) A firm cannot produce to the right of marginal revenue as this part of the diagram is inelastic. In order for the monopolist to sell a larger amount, the price must be lowered on all previous units, so to prevent this the monopolist may restrict output to keep a larger revenue. Creating scarcity and raising the equilibrium price. (Begg, 2005) â€Å"The excess of price over marginal costs shows the monopolies power† (Dobson, 2005:102) The power to raise prices by selling a smaller amount of output. Diagrams 8, 9, and 10 show long run economic profits, normal profits and losses. Thames water will then check weather the profit maximising level of output covers their total costs in the long run and variable costs in the short run. (Begg, 2003) Thames water is not a contestable market due to the fact it’s a natural monopoly, and has very high barriers to entry. This means they can charge high prices and make supernormal profits, without the threat of competition and new entrants. (Sloman, 2007) Thames water may want to behave ethically when setting prices. If they choose too high a price which people cannot afford this could lead to poverty, but if they charge too low a price this could lead to a wastage of water. Monopolies often use price discrimination when setting prices. Although Thames water do not. Perfect competition cannot use this method. Particular consumers are charged a higher price for an identical service so the monopoly can earn higher profits. (Ison, 2007) Revenue is not lost from previously sold units when price is reduced. More output can be sold ands firms can catch some of their consumer surpluses. See diagram 12. â€Å"Surpluses are the difference between actual price paid and what consumers will have been willing to pay. † â€Å"So the business is treating the demand curve as the marginal revenue curve† (Ison, 2007:138) Only works when consumers cannot buy the product for a cheaper price and sell on to others. (Begg, 2005) A firm operating in perfect competition will achieve allocative efficiency. This exists when price is equal to marginal costs. â€Å" Society is better off when resources are allocated to maximise the total surplus in the market. † (Dobson, 2005:91) Productive efficiency will also be achieved, meaning Fyffe will produce and sell their output for the lowest price they can in the long run giving consumers the best possible value for money. â€Å"Price equals minimum average total cost. † (Dobson, 2005:92) This is good for consumers and society as consumers get the best possible value for money. (Sloman, 2007) Perfectly competitive markets are critised for having a lack of variety, unable to fully satisfy consumers wants and needs. Furthermore the long term entry and exit of firms can be a waste of certain resources such as empty buildings. This is called competitive forces in action. (Dobson, 2005) Monopoly’s are in a position to give us a lower price if they decide to, due to economies of scale. The marginal cost curve is lower than the supply curve in their graph which means the firm can supply more output at a lower production cost. Supernormal profits can fund research and development which will improve the quality of the product. Therefore the monopoly can innovate and introduce new products. (Ison, 2007) However some firms may not do this as they do not need to fight to stay in the industry, with no competition around. (Mankiw, 2001) Joseph Schumpeter said in theory monopolies have more ability and incentive to innovate which can make them better for society. If you imagine a whole industry was taken over by a monopolist, they could eliminate competition and charge very high prices, by reducing output level to which raises price. Supernormal profits represent a redistribution of income from consumer to producer which can be critised on equity grounds† (Ison, 2007:137) Monopoly firms have been known to â€Å"engage in dirty tricks to protect themselves from competition. † They do not produce an output which minimises average costs. Making them productively efficient. â€Å"Perfect competition is rare due to larger companies expanding, gaining economies of scale and market power. Resulting in other firms being forced of the business. So if economies of scale did not exist any industry could have perfect competition. † (Dobson, 2006:94) Monopolies are also rare, and both are extremes of market structures. Most firms lie somewhere between the two. I think the two firms I picked are a fair comparism. They are both from a mixed economy. Thames water will have regulating agencies monitoring them. There are only 3 legal monopolies in Britain Thames Water included. In the past there was a significant amount of monopolies which were government owned. When Margaret Thatcher came into power she privitised these firms as she believed competition would lead to greater efficiency and lower prices which would benefit society as a whole. I agree with her decision and I think after researching, perfect competition appears to be the better option for consumers. Monopolys benefit society in certain situations such as retained profits ploughed back into research and development for medical reasons, and natural monopolies who could not survive in a perfectly competitive industry. Monoplies and perfect competition are becoming more rare as time goes on and who knows what will happen in the future.

Comparing The Yellow Wallpaper Story English Literature Essay

Comparing The Yellow Wallpaper Story English Literature Essay The work by Charlotte Perkins Gilman The Yellow Wallpaper and the work by Tillie Olsen both represent the genre of a short story. These stories are very much alike. Apart from the similarities they share, they have a lot of differences. Both works belong to the genre of a short story. However, they were written with an interval of sixty nine years. Charlotte Perkins Gilman wrote her The Yellow Wallpaper in 1892. The work I Stand Here Ironing by Tillie Olsen was printed in 1961. Still, if to analyze the content of these stories it would be rather difficult to imagine this interval of almost seventy years. Both works deal with the same problem a females right for her personal happiness and self-realization regardless of her social duties of a wife and a mother. Both stories are told by women whose life went wrong because of their responsibilities towards their families. The narrator of the story by Charlotte Perkins Gilman The Yellow Wallpaper is an insane woman who has a husband and a child. Having suffered from a serious depression she takes a course of treatment. Though, it does not seem at all to have much effect on her. Doctors characterize her as a woman with slight hysterical tendency (Gilman). However her insanity aggravates. First she feels that there is something queer (Gilman) about her illness. She wants to relieve her mind (Gilman). She is tired of rings and things in her bedroom (Gilman). I Stand Here Ironing is a story about a womans sacrifice that she made after becoming a wife and a mother. She is not insane, but her feelings are of the same nature. The difference from The Yellow Wallpaper is that the narrator feels guilty. The narrator feels that she is responsible for her failings as a wife and a mother. She realizes that her best efforts were frustrated by such circumstances as lack of social services and inadequate pay. As opposed to the character from The Yellow Paper not only does she blame other people and life circumstances for her hard life and lack of her daughters confidence. It is hard to admit but the narrator is aware of her fault. But the main character of The Yellow Wallpaper does not seem to demonstrate any sign of such awareness. She considers that her family murdered a person inside her, but does not think about the fact that her husband needs her as a wife and her child needs her as a mother. She is an egoist. Both stories The Yellow Wallpaper and I Stand Here Ironing contain a lot of autobiographical elements. The story by Tillie Olsen includes such narrators recollection as being a young mother whose opportunities are rather limited, or being a wife who was abandoned. This story is autobiographical. Like the main character of the story I Stand Here Ironing Olsen also met some challenges in life. She struggled to balance her family life with her political ambitions and activism. The story by Charlotte Perkins Gilman tells about the authors own severe depression and mental disorder. She confessed that the presence of her husband and child even worsened her terrible state. Both the character of The Yellow Wallpaper and the character in I Stand Here Ironing are unfortunate miserable women. However, the narrator of I Stand Here Ironing is not the only unhappy woman in the story. This is the other distinction from the story by Charlotte Perkins Gilman. The narrator confesses in a phone conversation that her daughter Emilys childhood was rather rocky. Though she was a beautiful baby (Olsen), she was a very unhappy child, that cannot be helped (Olsen). However, these unhappy characters are united by one common problem: they do not see themselves as valuable creations. The narrator of I Stand Here Ironing is oppressed by environmental and her personal circumstances. She feels sad that she did not succeed as a wife; she laments her unwise and desperate choices that she made as a mother. Emilys fractured portrait comes from her mothers memories from the past. When her mother tell about her poor life, it becomes clear, that Emilys life was not better than her m others. She was a forgotten child. She suffered a lot; her development was slow, her nature was silky and gloomy; her self-esteem was very low; and her life was not a joy, but a survival in the brutal world. The narrator of The Yellow Wall Paper also feels sorry about her unrealized dreams and wishes. In contrast to the main character of The Yellow Wallpaper who has a serious mental disorder and blames her husband for unhappy life, the narrator in I Stand Here Ironing has the ability to analyze her life and her mistakes and determine the best way to solve her problems. However, she did not have this luxury long ago when she was a young and inexperienced mother. The woman is literary weighed down with constant demands of her family and domestic duties. Of course, being a mother she understands her responsibility for not very successive role in her daughter Emilys unhappy life, her development. However, this responsibility is not full. The narrator also blames environment, social conditions that can make the life of a single mother terrible. Thus, she cannot estimate in full how unhappy her daughter is. Both stories contain very bright symbols that reflect the inner state of both characters. These symbols are named in the titles of the stories. The main character of I Stand Here Ironing tells about her life while ironing clothes. Ironing is a backdrop for her thoughts, her considerations as a mother. The narrator in the story by Ch. Gilman is totally obsessed with the yellow wallpapers that cover the walls of her bedroom. The narrator believes that there is woman trapped inside. Her intention is to help the woman, though the narrator is afraid to reveal her intentions as she realizes that no one would ever understand her. By the end of the story a reader comprehends that the character is completely insane as she believes that she herself is a woman from the wallpaper. These symbols mean that both women have found something to distract from their grief. One of them hides in ironing and another one hides in wallpapers. Written in different periods of time both short stories have much in common. They are both told by women who are not satisfied with their family life. The work by Charlotte Perkins Gilman The Yellow Wallpaper and the work by Tillie Olsen I Stand Here Ironing are both masterpieces that raise serious questions of duty, self-esteem, personal self-realization and female happiness. Still, they also bear a lot of differences. Once one woman blames people who surround her, another one comprehends that her own fault is also great.

A Case Review On The Shining English Literature Essay

A Case Review On The Shining English Literature Essay Jack Torrence, loving father when sober and aspiring playwright and author accepts a winter caretaker job at an old, large and isolated hotel in Colorado. Jack, his wife Wendy and their clairvoyant son Danny move into the Overlook hotel. Dannys clairvoyance makes him sensitive to super-natural forces and shortly after their arrival at the Overlook he experiences premonitions about the danger the hotel poses to his family, he begins seeing ghosts and frightening visions about the hotels past. Knowing that the caretaking job is important to his father and to the familys future Danny avoids telling his parents about the visions. As winter closes in and the small family become completely isolated Danny realises that his presence in the hotel makes it more powerful, the hotel has difficulty possessing Danny, so it begins to posses Jack, frustrating his need and desire to work. Jack becomes increasingly unstable and the ghosts of the hotel gradually begin to overtake him. With the heavy winter snow leaving them all totally isolated a true horror story unfolds as the hotel attempts to use Jack to kill Wendy and Danny in order to absorb Dannys psychic abilities. Characters: #. Danny Torrence The 5-year-old son of Jack and Wendy, he has the Shining ability which empowers him with various psychic abilities which render him sensitive to super-natural forces; this is what makes him the target of the hotel. Danny has a psychic guide, named Tony taken from his middle name Anthony through which he can see past and future events. At first Tony seems to just be an imaginary playmate but soon becomes a source of fear to Danny, followed by a source of strength towards the end of the novel. Being 5 years old Danny is only just learning to read, so he often becomes confused after some of his visions as they require some reading skill to be fully understood; this motivates Danny to achieve a higher than usual reading skill before he has even started school. With his Shining ability Danny can tap into peoples thoughts but as mentioned above, his age limits his understanding of them. Danny is most definitely a likeable character, he is sweet, caring and has the inno cence and ignorance of a 5 year old, yet he is also very intelligent for his age as he is forced to mature with the insight he has from his shining ability. His psychic insight gives him confidence at times but also scares him. He is enquiring and curious, always trying to further his understanding of things. #. Jack Torrence Jack Torrence is a recovering alcoholic, he lost his teaching position after beating up a student for slashing his cars tires. When he drinks he is very erratic and has an extremely short temper, one night after coming home drunk he broke Dannys arm because Danny would not stop crying; ever since the event his marriage had devalued and him and Wendy were contemplating divorce. However Jacks fatherly instinct took over and he managed to quit drinking and arrange a winter caretaking job at the Overlook, this was all an attempt to prove himself in order to save his marriage. Jack has a certain arrogance and stubbornness about him, he does not like being under authority and often compromises himself or his job by retaliating to it. The above and drinking are his weaknesses and the hotel identifies and uses them to turn Jack against his family and into a monster. Jack seems to be quite a likeable character at the beginning of the novel but as it progresses and the reader witnesses how Jack acts under pressure and his history is revealed one begins to dislike him, yet there is always a bit of pity for him because he tries so hard to make up for his past. #. Wendy Torrence Wendy is Jacks wife and Dannys mother, a likeable, kind, friendly and genuine lady. She had/has a bad relationship with her mother which has influenced her to be the best mother she can to Danny. She is extremely strong and capable; she sticks with Jack despite his alcoholism and short temper. When Jack is possessed she tries to balance staying alive, protecting her son and trying not to completely abandon her husband. Her actions are not always what would seem to be clever but she never disappoints, always keeping the reader in suspense. Her strength is evident in that she seems to be almost immune to the Overlooks evil. Wendy is also a very practical person, this contributes to her saving herself, Dick Hallorann and Danny at the end of the novel. #. Dick Hallorann Dick Hallorann is the chef of the Overlook Hotel and shares the shining ability with Danny. Dick is a true hero in the novel, he is summoned to the hotel telepathically by Danny where he almost loses his life help save Wendy and Danny from Jack. He is also important to Dannys future well-being as he is the first person to verify Dannys shining ability and to name it. Dick is a very kind, likeable, friendly man and is the only character introduced, besides Danny, who possesses the shining ability. #.Horace Derwent Horace Derwent was a self-made millionaire and former owner of the Overlook Hotel and is responsible for most of the Overlooks notorious history. Although it is not clear whether he is alive or not he appears to Jack in the Colorado Lounge as one of the apparitions at the ball. His current involvement in the Overlook is not clear but he comes across as a bad guy. Themes: The Shining is the story of a desperate family, they believe the Overlook is their last chance of making it together. The Overlook however is all about destruction, destroying families by twisting the love within them. The family theme is quite complex, Jack is battling with his own childhood where he had an abusive alcoholic father, Wendy has a bad relationship with her mother who blames her for her parents divorce, Wendy has little family contact other than with Jack and Danny this runs into the other theme of isolation. The isolated Overlook hotel is quite like the family, both have their share of unsavoury pasts and like the hotel these also contribute to the familys isolation (isolation from their extended family and isolation within themselves due to Jacks short temper and drinking). Dannys shining ability isolates him from everyone else, he has to deal with a lot more than the average 5 year old let alone adults, when he meets Dick Hallorann also a shiner his isolation is s lightly lessened. Violence is quite prominent in the novel, the Overlook hotel feeds on violence. Jack is quite vulnerable to it after battling with a violent childhood and still battling with his own violent temper. We see the Overlook take advantage of Jacks weakness as we watch him lose his battle to control his own violence becoming a slave to the hotel. Setting: The novel is set at The Overlook Hotel in Colorado, September 30 December 3, 1975. The Overlook has a long history of violence and questionable deaths. The date sets the novel in the fall and winter of 1975, just post the Vietnam War. The date 1945 is brought up in the novel quite often, with reference to the Overlooks history. 1945 marks the end of World War 2 and the beginning of the Cold War, both 1975 and 1945 were years of extreme post-war anxiety and relief. Making the setting in quite emotion-provoking times. The Overlook however intertwines different time periods, bringing together all of its horrific past. The hotel has so many settings within itself Room 217, the ballroom, the cellar, the boiler room etc that it provides the perfect platform for King to unleash a hell of a horror. Style, form and structure: Written in third person and including perspectives from all the characters with their thoughts included, the novel gives a nice all-round image of each characters personality and character. As perspectives change all the time, you feel as if you are watching a movie; I think this style and structure is why this novel has made such a successful film. My response: I really enjoyed the novel, it was my first Stephen King read and my first horror novel. It was quite difficult to get hooked in the beginning but once the true horror started it was a book I could not put down, the suspense was great. I found it to be truly original and so entertaining with a well-thought out sophisticated plot that will still be great when its re-read for the 5th time. Id say definitely a masterpiece and it lives up to all the praise it has received. Stephen King is truly talented, cant wait to read another one of his books.

Comparing Heart of Darkness and Wuthering Heights Essay -- Comparison

Similarities between Heart of Darkness and Wuthering Heights    Although Joseph Conrad's novel, Heart of Darkness, and Emily Bronte's, Wuthering Heights, were written in different era, they do in fact share a few similarities.    First of all, Heart of Darkness and Wuthering Heights compare in the manner that both novels draw on their respective author's personal experiences. Emily Bronte, who wrote in the latter Romantic Period but also had characteristics of Victorian writers, was left motherless at the age of two and spent most of her life with her father and siblings in Haworth, England. It was in this location that Emily first experienced the moors that play a critical role of her novel linking Wuthering Heights with Thushcross Grange. The moors was the area Heathcliff and Catherine would escape to when things were difficult. Haworth was a town that was isolated and surrounded by moors much like the setting of Wuthering Heights is described. Also, Emily Bronte parallels her own life in the manner in which she creates motherless characters. For example, Catherine and Hindley lose their mother at a young age as well as Catherine eventually dies leaving her young daughter, Catherine motherless. Joseph Conra d draws on his own person    al experiences in his novel, Heart of Darkness. Joseph Conrad had always been enthralled with the open oceans, maps, and uncharted territories of the African continent. He was hired by a British Company to operate a small steamship on the African Congo. He went on this trip and while there began keeping journals that would later become the basis for this novel.    Secondly, the authors of Wuthering Heights and Heart of Darkness both write their novels in the narrative fr... ...bright and upbeat feeling. It is true of both novels, for every good there is an evil. In Wuthering Heights, the characters are paired. For instance, two opposite households and the contrast of characters in Heathcliff vs. Linton. We see the coalition of good verses bad in Heart of Darkness, in the distinguishable manner in which Conrad writes o    f the black and the white. The underlying tone of Heart of Darkness is the oppression of the British over the African natives in the Congo.    In conclusion, many years separate Wuthering Heights and Heart of Darkness. The issues at hand facing these two authors were different, however they do possess similar ways of expressing to their readers the message they hope to convey.    Works Cited Bronte, Emily. Wuthering Heights Conrad, Joseph. Heart of Darkness Gersh, Marianna. "Heart of Darkness"

Of Mice And Men :: essays research papers

In the novel Of Mice and Men, John Steinbeck brings out the themes of Lonliness and companionship, and strengths and weaknesses through the actions, and quotations of the characters. Irony and foreshadowing play a large roll on how the story ends. Lennie and his habit of killing things not on purpose, but he is a victim of his own strength. George trying to pretend that his feelings for Lennie mean nothing. The entire novel is repetitive in themes and expressed views. Loneliness and Companionship are one of the many themes that are conveyed in the novel Of Mice and Men, By John Steinbeck. Many of the characters admit to suffering from loneliness within the texts. George sets the tone for these confessions early in the novel when he reminds Lennie that the life of living on a ranch is among the loneliest of lives. However Lennie, who is mentally disabled holds the idea that living on a farm very high. "Tending the rabbits" is what Lennie calls it. Often when Lennie is seaking encouragement he askes George to tell him how its going to be. Men like George who migrate from farm to farm rarely have anyone to look to for companionship and protection. George obviously cares a lot for lennie, but is too stubborn to admit to it. The feeling of being shipped from place to place leaves George feeling alone and abandoned. Strengths and Weaknesses play a huge roll within the story. Steinbeck explores different types of strength and weakness throughout the novel. As the novel begins, Steinbeck shows how Lennie possesses physical strength beyond his control, as when he cannot help killing the mouse. Great physical strength is valuable in George and Lennie's circumstances. Curley, as a symbol of authority on the ranch and a champion boxer, makes this clear immediately by using his brutish strength and violent temper to intimidate those who look down on him. Lennie means no harm at all. The reason why George and Lennie had to leave in the beginning of the novel was because it was believed that Lennie attempted to rape a woman there. Rape was not the case at all, when Lennie expressed his love for the touch of soft things, such as a dress or a mouse, this panicked the woman causing a chain reaction, and causing Lennie panic also. When Lennie accidentally kills the mouse, it foreshadows the future of Lennie and Curley's wife.

Employees Provident Funds Act, 1952 Essay

Any establishment registered under Cooperative Societies Act or State law relating to cooperative societies, employing less than 50 persons and working without paid of power To any establishment belonging to or under Control of Central Government or a State Government and whose employees are entitled to benefit of contributory provident fund or old age pension. To any establishment set up under any Central or State Act and whose employees are entitled to benefit of contributory provident fund or old age pension. Administration of the fund [section 5(1A)]. Both employer and employee have to pay contribution at prescribed rates. These amounts are credited to a fund. The fund vests in and is administered by Central Board. Employees Covered Under the scheme As per section 2(f), â€Å"employee† means any person who is employed for wages in any kind of work, manual or otherwise, in or in connection with the work of an establishment, and who gets his wages directly or indirectly from the employer. Thus, Persons employed through contractor in connection with work of establishment are covered Apprentices employed under Apprentices Act or under standing orders of establishment are disqualified, i. . they are not employees. [The model standing orders merely state that an ‘apprentice’ is a learner who is paid an allowance during the period of his training]. Non-eligible Employees Under PF Employee whose ‘pay’ is more than Rs. 6,500 per month are not eligible. Apprentices as per certified standing orders or under Apprentices Act Casual employees. However, employees employed through cont ractors have also to be covered under PF. Employee to Become member of Fund Immediately on Joining Every employee employed in or in connection with work of a factory or establishment to which the Act applies is entitled and required to become member of Provident Fund, unless he is an disqualified employee. Contribution by Employer & Employee As per section 2(c) â€Å"contribution† means a contribution payable in respect of a member under a Scheme or the contribution payable in respect of an employee to whom the Insurance Scheme applies. As per section 6, contribution shall be paid by employer @ 12% of basic wages plus DA – dearness allowance plus retaining allowance. This amount is defined as ‘pay’. Employees Provident Fund Scheme This is the main scheme under the Act. Both employer and employee have to pay contribution to Provident Fund. The employer has to deduct contribution of employee from the salary of employee and has to pay both employees’ contribution as well as employer’s contribution by a challan in prescribed form. The amount has to be paid in approved bank. EMPLOYEE CAN PAY HIGHER CONTRIBUTION – Employee has to contribute 12% of his ‘pay’ as contribution. The employee can voluntarily pay higher contribution above the statutory rate. However, employer does not have to match the voluntary contribution, over and above the statutory rate. Contribution Payable under PF scheme The Principal Employer is liable to pay contribution of his own employees as well as employees employed through contractor. Principal Employer can recover from contractor the amount paid by him on behalf of contractor. The contribution is 12% of ‘pay’ i. e. basic wages, plus dearness allowance, cash value of food concession and retaining allowance. Contribution of both employer and employee is same i. e. 12% each. Employer has to pay his contribution to EPF. He cannot deduct his contribution from wages of the employee. However, he has to deduct employee’s share from his salary and pay the same in EPF scheme. This deduction can be only from the wages pertaining to period for which contribution is paid. However, if there is accidental omission, the amount can be recovered later. Amount deducted from salary of employees is held in trust by the employer or contractor. The balance will be retained in the EPF scheme. Thus, on retirement, the employee will get his full share plus the balance of Employer’s share retained to his credit in EPF account. Lower Contribution in certain cases The employer’s and employee’s contribution is 12% each. This is applicable to many of industries and establishments. However, this contribution is not applicable to – â€Å"any establishment employing less than 20 persons† any establishment registered with Board for Industrial and Financial Reconstruction (BIFR) as a sick company – the lower rate of contribution continues till its net worth is positive * any other establishment which has accumulated loss equal to or more than its assets and has also suffered cash loss in last two years. Jute industry , Beedi industry ,Brick industry other than the spinning sector. In these cases, the contribution is 10%. Transfer of accounts (1) Where an employee employed in an establishment to which this Act applies leaves his employment and obtains re-employment in another establishment to which this Act does not apply the amount of accumulations to the credit of such employee in the Fund or as the case may be in the provident fund of the establishment left by him shall be transferred within such time as may be specified by the Central Government. Investment The amount received by way of provident fund contribution is invested by the board of trustees in accordance with the investment pattern approved by the government of India. The members of the provident fund get interest on the money in their provident fund accounts. The rate of interest for each financial year is recommended by the board of trustees and is subject to final decision by the government of India. 2) Where an employee employed in an establishment to which this Act does not apply leaves his establishment and obtains re-employment in another establishment to which this Act applies the amount of accumulations to the credit of such employee in the provident fund of the establishment left by him may if the employee so desires and the rules in relation to such provident fund permit be transferred to the credit of his account in the Fund The Employees’ Pension Scheme, 1995 Applicability EPS, 1995 applies with effect from 16. 11. 995 to all establishments to wh ich EPF,1952 and 1971 were applicable. Eligibility Employer’s and employees’ contribution Protection of provident fund Pensionable salary Pensionable service Formula for calculation of pension Monthly members’ pension = Pensionable salary * pensionable service 70 Employees’ family pension scheme For the purpose of providing family pension and life insurance benefits to the employees of any establishment or class of establishment to which the act applies. the scheme is applicable to all subscribers of employers’ provident fund. Contribution The employees contribution of 8. 33% will be diverted to the fund of pension scheme. Employers contribution is 12%. In such cases, 8. 33% is diverted to pension scheme and balance 1. 67/3. 67% as the case may be, will be in credit of employee’s name in provident fund account. family pension fund from and out of provident fund contributions payable by the employer and employee in each month, a part of the contribution representing one and one and 1/6 the percent from and out of employees contribution is remitted by the employer to the family pension fund. Benefits under the scheme: Members will get pension on superannuation or retirement from service and upon disablement during employment. Family pension will be available to widow/widower for life or till he/she remarries. In addition, children will be entitled to pension, up to 25 years of their age. Employees’ Deposit Linked Insurance Scheme The Central Government may by notification in the Official Gazette frame a Scheme to be called the Employees’ Deposit-linked Insurance Scheme for the purpose of providing life insurance benefits to the employees of any establishment or class of establishments to which this Act applies. Deposit-linked Insurance Fund into which shall be paid by the employer from time to time in respect of every such employee in relation to whom he is the employer such amount not being more than one per cent of the aggregate of the basic wages dearness allowance and retaining allowance (if any) for the time being payable in relation to such employee. The employer has to pay contribution equal to 0. 50% of the total wages of employee, in addition to administrative charges of 0. 1% of total wages. The employee need not contribute any amount too the scheme. The salary limit for coverage of employees in same as that of provident fund.

Ancient Chinese Foot Binding Essay

Woman in living in China during the Song Dynasty believed that they would appear more graceful and beautiful if they had small feet. They used foot binding, a long and painful process of breaking and moving bones, to deform their feet until they were tiny. Foot binding perceived the role of women in Chinese society and Confucian moral values. This practice affected the lives of many women in ways that are unimaginably painful (Bound). One Chinese legend speaks of a time when Lady Huang of the Song Dynasty started this practice and continued it because her prince loved her little feet. He was proud of her ability to dance and walk gracefully. Soon, others took up the idea of foot binding, and copied her idea of delicate feet. The first evidence found of foot binding is from Lady Huang’s tomb. She lived in the Song Dynasty, which was from around 960-1279 AD. In the tomb, the woman’s feet were bound and wearing five and a half inch long shoes (Bound). Another legend states that the first time foot binding was used was when a young concubine bound her feet tightly to be used in a dance routine for the emperor at that time (Ellis-Christensen). By the twelfth century, the practice was greatly used among the upper class, particularly the Han Chinese. During the Qing Dynasty in the mid-seventeenth century, every girl who wished to be married into a wealthy family had to have her feet bound, in order to have a good life (Schiavenza). The reason for this is because men wanted their wives to be delicate. When a girl reached the age of 4-6 years old, her mother would perform foot binding on her. If she was any younger, she would not be able to endure the pain; but, if she were any older, her foot would be too grown to work with this process (Schiavenza). First, her mother would soak the child’s foot in a mix of herbs and blood, to soften it up. Then, she would bend and pull back the girl’s toes, (except her big toe), under her foot toward the arch until her toes broke. The girl’s mother would also break the arch of her foot. Next, she would bind up the child’s foot tightly with a long bandage, until her foot formed a triangle with the arch, toes, and heel (Ellis-Christensen). In other words, the foot created a steep, indenting curve and fold in the center of the sole, while the heel was pushed up, causing the foot to become rounded. The entire process was extremely painful. These feet, called lotus feet, were three to five inches long, and shaped like hooves (Bound). Even though foot binding created social possibilities for Chinese women, it caused many problems and deformity. The practice resulted in a shorter and deformed foot that came from the muscles and bones repositioning. Women had to walk on their heels, using a shuffling gait, seen as graceful (Bound). The bandages were worn all day and night, unless they were being washed, which did not happen very often, causing the feet to stink. This caused many infections and diseases. The women who used foot binding had to bind their feet continuously for their whole lives. They wore tiny shoes to cover up their feet. The condition of their feet affected their mobility. Women in Ancient China at that time could not leave their houses by themselves. They also could not do any work that servants could easily do. It was very difficult to get up from a chair and to sit down (Ellis-Christensen). The last survivors from this period in time, all that remains of a vanished idea, suffer from old age, arthritis, and the diseases that came with the practice of foot binding (Mao). Toward the end of the Qing Dynasty, when western countries had more influence on China, foot binding slowly gained more and more people who wanted to end the practice. Wives of Christian ministers, educated Chinese who had studied abroad in Europe and North America, and many others began to oppose foot binding (Schiavenza). Finally, in 1911, foot binding was officially banned (Bound). By the time Mao Zedong took control of China in 1949, the practice was gone, with the exception of a few remote areas in the mountains of China (Schiavenza). During the end of foot binding, a young woman named Gladys Aylward had a chance to preach the gospel to the Chinese people. She grew up in London, England, but was called to go to China and be a missionary to the villagers there. Aylward learned the language and culture of the Chinese, and later became a citizen. One of the officials appointed her to be a foot inspector after the law was passed to ban foot binding. Traveling from village to village, while the unwrapped peoples’ bandages, she preached the gospel to them, and told Bible stories. Many of these people believed and were saved (Gladys). Foot binding was not a form of torture, but was performed in respect to the Chinese culture and traditions. By making their feet exceedingly shorter, they believed that they were closer to perfection. Foot binding caused many women to suffer in their older ages, though. It is amazing that through suffering and pain, God finds ways to make himself known. Thankfully, foot binding is no longer practiced, due to the successful resistance movements of western influence (Mao). Works Cited â€Å"Bound to Be Beautiful: Foot Binding in Ancient China. † McClung Museum of Natural History and Culture. University of Tennessee Knoxville, 4 June 2005. Web. 25 Nov. 2013. Ellis-Christensen, Tricia. â€Å"Why Did Chinese Women Bind Their Feet?. † wiseGEEK. Ed. O. Wallace. N. p. , 16 Nov. 2013. Web. 25 Nov. 2013. â€Å"Gladys Aylward’s Long Road to China. † Christianity. com. Salem Web Network, 2013. Web. 25 Nov. 2013. Mao, J. â€Å"Foot Binding: Beauty and Torture. † The Internet Journal of Biological Anthropology 1. 2 (2007). Web. 25 Nov. 2013. Schiavenza, Matt. â€Å"The Peculiar History of Foot Binding in China. † The Atlantic. N. p. , 16 Sept. 2013. Web. 25 Nov. 2013.