Orange is the New Black Essay

Piper Kerman is a Smith College graduate who is serving thirteen months in prison, from 2004 to 2005, for a drug trafficking and money laundering crime she committed nearly ten years before. For most of her entire stay Piper is placed in a minimum-security prison in Danbury, Connecticut. I am from Avon, Connecticut so because her story was so close to home it immediately struck me as interesting. Her experience is eye opening, and as the book progresses you can see a slight transformation from a â€Å"normal† person to a hardened convict. Pipers book, Orange is the New Black, gives insight into the realities of women’s minimum-security prisons in the United States and how the criminal justice system works today. Which, as we find out, can be a long and frustrating process. While it seems a bit absurd that Piper is being locked away for a crime committed ten years ago, I do think it is justified. What she did was illegal and when you break the laws you go to jail. That being said, I can understand why one would think that this was not justified for two reasons, the first being the fact that she committed her drug trafficking and money laundering crime ten years ago. This may be true, but that doesn’t mean it was wrong, you still need to be punished for your actions. The second reason this would be seen as unfair is because she was young and stupid when she did it. This I do not think is an excuse at all because that does not exclude her from knowing what she was doing and knowing it was wrong. I want to add though, while I agree that the punishment for her crimes were justified, as in the prison sentence, I do not think it was fair that the whole process took that long in general. To make an accurate assessment, though, I think that you have to l ook at the goals of punishment and see if each goal was met as well. When thinking about the goals of punishment the first that comes to mind is retribution. This is punishment based on a perceived need for vengeance, or that people should receive what they deserve. If you work hard you are  rewarded and if you break the rules you get punished, therefore Piper has to payback for what she did. In this case it is hard to decide if Piper received a fair punishment. When she got charged with money laundering she was helping an organization operate. Even if she didn’t know the full consequences of her actions, she knew that is was wrong. The drug organization was not only using it to support its buying of drugs, but it could also have been doing many other horrible things. Although she says she had no idea what was happening with the money or how it was being used, we have to remember that this is only her side of the story and that the judge ruling on her case has so many liars that would say the same thing. Because the punishment was from so long ago it seems like it snuck up on her and was unfair, but I feel that if she had been punished right after her crime was committed everyone would not feel as bad about it. I feel that the retribution she received was justified for her actions, even if they were ten years ago. The second goal of punishment is incapacitation. The purpose of this is to separate offenders from their community as to reduce their ability to commit certain crimes. In this case, I do not think that this goal was accomplished. Although Piper had committed a crime, she was not going to commit any more; she had given that life up and was trying to move on. The reason for incapacitation is if you think someone will commit a crime again that could negatively affect the community. As I said, not only was Piper moving on from her other life, she was making great steps to become a mature adult, from starting a relationship to thinking hard about her future. I want to point out the difference between retribution and incapacitation and why I agree with one and not the other. I think that Piper should have been punished for what she did, that is retribution. On the other hand, I do not think that Piper was a threat to her community, and that there was not a chance she would do it again. So in the sense while I do agree that it was necessary as a punishment, I do not think that it was necessary to stop her from committing another crime again. Deterrence is the third goal of punishment and is compatible with incapacitation. Deterrence is the threat of punishment to convince people  that the crime or activity they are committing is not worth it. There are two types of deterrence in my opinion and one of them was successful while the other was not. In Pipers case, while she did think about the fact that when she was smuggling the money over she might get caught, it did not deter her from saying no. Piper still decided that she would drug traffic and money launder so obviously the idea of going to prison did not affect her decision. So, in this case, I would say that no, under this meaning deterrence was not met. On the other hand, another form of deterrence is the idea that you can reduce the amount of repeat offenders coming back again and again. Under this definition I believe that in Pipers case this deterrence was effective. Although when she committed the crime the first time she was not thinking about the punishment at all really. Now, she can’t get the thought of prison out of her head for a day, let alone if she was going to do something illegal. Her experience was so life changing it will affect the way she thinks and acts from the time she gets out, and I would consider that a success as far as deterrence. The fourth and final goal of punishment is rehabilitation, or the idea that you can change the way an offender thinks and behaves into a more positive form. There are many different forms of rehabilitation but most focus on the reduction of criminal offences through support and help from the community. The hope being that the offender will change their attitude toward what they have done and make them see that the behavior was wrong. This is where I feel there was a major problem with Pipers experience. The entire time I was reading the book I was waiting for her to explain how sad she was that she had committed the crime or that she realized it was wrong. Instead of her saying these things, the only thing I heard was the fact that she thought it was ridiculous for her to be here for so long, or that most of the people in the camp didn’t deserve to be in for what they did. While she was locked up she was thinking and writing, but it was not about how she realized that what she had done was wrong, but instead it was how badly she missed everyone she loved. She did not mention the fact that she realized her wrong doing and that if she hadn’t had of done those things, so long ago, that she never would have been in this situation, instead she complained that her sentence was unfair and that she was a nice lady who didn’t deserve this. This is the problem I have with the criminal justice system now a days. It  seems as if most of the ladies in the prison with Piper were doing the same thing, waiting to get out of jail. These people are not thinking about what they did to get into these situations, trying to better themselves and getting prepared for the outside world. Instead it seemed as if they were only concerned with making their time in prison as nice as possible and in a sense trying to forget why they are there in the first place. They focused on making their time in prison more comfortable and finding out ways to get what they wanted while breaking the rules. I think that there are different reasons for this and they are not all the prisoners fault. One of the major problems was that while Danbury had some working programs, there were just not enough classrooms that were functional, or teachers, to be effective. Release back into the community is an important step that needs to be done in the right steps to succeed. On the other hand, in my opinion, the prisoner is in for doing something wrong and being punished. If they had not committed the crime they would not be taken away from their ch ances to be successful in the world. While it may seem tough, it is just another form of privileges being taken away, if they had not committed the crime it would never have happened. So, in the end, Pipers stay was justified in my opinion and she had it coming to her in the end, you cannot expect to do something illegal and get away with it. I believe that throughout the book, while certain aspects of punishment were touched upon, not all were met. While she gave retribution (ten years later), and next time will defiantly be deterred, I’m not to sure how successful the rehabilitation part was or if the incapacitation was necessary. I do think that it is necessary to point out though that Pipers case is not how it is in a lot of cases due to the fact that she has a loving husband and strong family ties. In the end though, Piper had a life changing experience that will affect her for the rest of her life, from her experiences in prison to her work on the board of Women’s Prison Association.

Odysseus and Aeneus: Travels to the Dark Side Essay

Ancient Greece’s Odysseus from Homer’s The Odyssey and ancient Troy’s Aeneus from Virgil’s The Aeneid are both heroes who struggle with identity and purpose, and these identities and purposes are tied up into the concepts and symbolism revolving around female versus male and pagan versus Christian-like influences. In comparing Odysseus’ travel to the underworld and Aeneus’ decent to the land of the dead, one can relate these journeys to the main philosophical plots of both works of ancient literature. Although both men return from Hades alive, the two men’s initial approaches to the dead are slightly different, Odysseus performing sacrifices at the direction of the female goddess Circe and Aeneus praying to the male God Appollo and led to the gates by the priestess Sybil. The variance in how the heroes enter the spirit worlds lends significant insight into how their experiences in the underworld play out and mirror the entire themes of both tales. The heroes’ experiences with the dead are not unlike the major plots of both works, Odysseus focusing more on a successful return to his wife and Aeneus centering more on a successful honoring of God and country. The more mortal, pagan, and female experiences of Odysseus’ journey contrast to the more immortal, Christian-like, and male voyage of Aeneus. A main difference in the drive of the two men is that Odysseus is driven by the recommendations of the Goddess Circe and Aeneus is empowered by the guidance of the God Appolo. Here one can see the divine gender differences and the contrast of abiding by the rule of an immortal woman or the power of an immortal man. Leadership positions are of great significance in The Odyssey and The Aeneid, because Ithaca and Troy were in bitter battles for power and influence during this time. In calling attention to modern day Christian theology, it can be stated that perhaps Aeneus displays the most leadership capacity, given that he takes heed of the influence of male figures. However, in refuting modern day Christian mentality, one can suppose that Odysseus may be correct in placing his trust and ability to be guided in the hands of a woman, accepting the idea of womanly power and the feminine energy which can be useful to and benefit male figures. The fact that the tale of Odysseus was born several hundred years before Christian theology contrasts with the story of Aeneus, written only a couple decades before Christ’s birth, on the cusp of Christian influence. The communication of the ghosts to both heroes gives insight to the similarities and differences of their experiences in the underworlds. At the River of Ocean in the land of the Cimmerians, the spirits themselves come to Odysseus, giving him a more rooted or female positioning, Elpenor one of the first to greet Odysseus, begging him to return to Circe’s island and give him a proper burial. In Dis, the land of the dead, Charon delivers souls to Aeneus from across the river Acheron, and Sybil explains to Aeneus that the souls of the dead must remain on the other bank. However, upon showing his golden branch, Aeneus is able to be ferried across and he moves into the underworld, granting him an entering and more male positioning. Further communication with the spirits reveal to both men the end goals or purposes of their expeditions. For Odysseus, in the counsel of the ghost prophet Tiresias, he is informed that the Achaeans are being punished by Poseidon for the blinding of his son Polyphemus and foresees that Odysseus will have a successful journey culminating in the return to his wife, the banishment of her eager suitors, and the future engagement in another trip to appease Poseidon. The goal for Aeneus is also revealed in the land of the dead by the spirit of his father Anchesis, that Romulus will found Rome, a Caesar will eventually come from the line of Ascanius, and Rome will reach a Golden Age of rule over the world. Here, one notes that for Odysseus, a return to Penelope is a large part of his purpose, while Aeneus appears to be on a mission revolving fighting solely for the fatherland. The relative physical nearness of Odysseus to the spirits contrasts the distance of Aeneus to the ghosts they both encounter, Odysseus seemingly swarmed by the souls and Aeneus travelling to the spirits throughout Hades. The shades of the dead are immediately able to interact with and influence Odysseus, while Aeneus is separated from the spirits by the river and must be shuttled across by the gate keeper, Charon. Also, the concept of levels of purgatory is not readily apparent in Odysseus’ experience in the underworld, while Aeneus experiences the movement through stages of Hell, from the suicide victims in the Fields of Mourning to the innocent spirits in the Blessed Groves. One can distinguish between the more ancient belief of Odysseus being directly submerged with the spirit world, souls coming to him directly, and Aeneus’ more Christian-like orientation of being classified in steps away from the divine or away from eternal joy according to the level of preoccupation with sin and death, journeying through the various areas of what could be termed a kind of purgatory in Hell, perhaps just short of divine life or mortality in Heaven. Two former soldier spirits communicate to the men that they would like to be buried properly, which serves to align the tales of Odysseus and Aeneus more closely together. Both Elpenor’s plea to Odysseus and Aeneus’ spotting of Palinurus within the area for spirits having received improper burials bring sadness to the hearts of the heroes, perhaps knowing that the deceased did not receive the most appropriate and respectful honor from them. The quick and dirty nature of battle is called to mind for both of the men as they express regret at their ineffectiveness in having paid proper respects to their lost friends. Here, Odysseus and Aeneus are seen as more similar, both either guilty or saddened by the lost chance to truly honor the dead at the time of their passing. This experience serves for both men a time of self reflection on their own actions, deliberating on whether or not they had made the right choices and calling to mind the concepts of sin and regret due to possibly mistaken actions. In comparing Odysseus’ marriage to Penelope to Aeneus’ sighting of Dido in the land of the dead, one is struck by the sharp contrast in the men’s relationships with women. While Odysseus is faithful to Penelope and keeps her as a driving force in his quest, a goal and treasure to which he wants to return and defend, Aeneus is shocked by seeing his former love in the Fields of Mourning, having killed herself and married a ghost in the afterlife. Aeneus’ incapacity at sustaining a relationship is a very important point to consider in the comparison of both heroes. Perhaps Odysseus’ clinging to the more female part of existence and divine life lends power to his ability to hold his marriage together, giving support and honor to the idea of family life. Although both men are soldiers on journeys to defend their home countries, Odysseus does not make the complete break from home in the way that Aeneus does. The splitting of Aeneus and Dido is a deep and telling fracture which can lend insight into the Trojan way of thinking regarding marriage and family. In this way, Aeneus’ masculinity works against him in that he is effectively separated from romantic love, and Odysseus’ pact with the feminine keeps him bound closer to family and home life. Also touching on the concept of family members as they relate to gender differences is the fact that Odysseus is visited by his mother in the underworld and Aeneus seeks out his father. The coming of Odysseus’ mother Anticleia is again a more female orientation visitation and perhaps another impetus for Odysseus to return home to his wife Penelope, as his mother confesses to have died of grief in waiting for his return to Ithaca. Aeneus’ conversation with his father is again a more male oriented interaction. Anchises explains how the spirits move about in Dis, illustrating more clearly the Christian-like concept of purgatory and gaining insight on how the ghosts are able to reach the Fields of Gladness, as well as gaining insight on the future role of Trojans in Rome and the expansion of the Roman Empire, lending support to the ideas of hierarchy and patriarchy. In paying attention to the sensation of what it was like to have been in the two underworlds, one notes that the experience of the souls in Odysseus’ underworld is nothing less than suffering and that the experience of the spirits in Aeneus’ land of the dead is more variable, some suffering and some happiness. Odysseus’ departure from the underworld in being swarmed by the souls is one of fright and fleeing, while Aeneus leaves the land of the dead courageously. The distaste which Odysseus holds for the dead ghosts is apparent, and he expresses the fact that he wants nothing to do with knowledge of the dead. The encounter with his mother Anticleia may have also invoked fear in Odysseus that his wife Penelope may also surrender to sadness and death. Aeneus is more curious of the afterlife, the positive aspects and negative aspects being grouped separately, and he demonstrates a desire to learn about now to gain access to the nicer areas of the spirit world. The energy he receives from the encouraging conversation with his father regarding the positive aspects of purgatory and the future goal of his triumph in Italy enables Aeneus to leave his visit to the land of the dead with confidence. The notions of judgment and peace are also themes in Odysseus and Aeneus’ visits to the afterworld. In Odysseus’ underworld experience, the dead are not really judged, yet they are all unhappy. In this case, there is no peace for the dead and no judgment of death other than a negative one. To Odysseus, the underworld is black and unfortunate place, hopefully avoidable, yet certainly not avoidable for Odysseus given his own mortality. There is a blanketed negativity in Odysseus’ concept of the afterlife, no room for positive judgment and no room for peace. However, in looking at Aeneus’ experience in the land of the dead, one notes that there are various judgments of the spirits and various areas of suffering and bliss, correlating to the judgment of their life choices before death, Minos handing out judgments to the recently deceased. Although there are suffering souls, there are also ghosts who enjoy happiness and peace in the afterlife, concepts resembling the purgatory of Christianity during this pre-Christian area. In Aeneus’ experience, one is able to glean a sense of hopefulness from the spiritual world, while Odysseus’ encounter with the dead is mostly frightful and perhaps even unhelpful. These two experiences can be viewed in two ways. Perhaps it is positive that Aeneus sees joy in death, granting him extra courage to face the afterlife, however, perhaps this makes Aeneus closer to death, while Odysseus may be made safer by aiming to avoid death completely. In considering the two men and their two tales, it is illuminating to study the two midpoint travels of the heroes into the underworlds. Odysseus as a hero is somewhat more woman led, depending on Circe, interaction with his mother, and yearnings for Penelope, and this thread of female orientation is present throughout Odysseus’ journey. He is even warned by Tiresias to not touch the flocks of the sun, a metaphor which rings a sense of warning to resist the urge of being overly male oriented. Odysseus’ fear of death can be viewed in two different ways. Perhaps he is cowardly, or perhaps he is more attached to life and desires to be in the land of the living. Odysseus’ desire to return to Ithaca and reclaim his wife Penelope is always a drawing factor, and Odysseus’ flight from the spirit world may simply correlate to his desire to return home to his family. The hero Aeneus is more man led, valuing the prayers to Appollo, the conversation with his father, and letting go of his woman Dido, placing the voyage and battle ahead of his family life, remaining more male oriented. The letting go of his relationship with Dido and her subsequent death supports the idea that Aeneus is able to cut ties, however, one cannot be sure if the ability of Aeneus to cut ties is a positive ability or if he wrongly fractures his romance and family bonds. The concepts of opposing and complimentary genders, divine mortal and immortal influence, and pagan and Christian-like theologies and belief systems all contribute to the development of the tales The Odyssey and The Aeneid as well as place meaning and focus on the heroes Odysseus and Aeneus and their travels down into the realm of the dead, giving each character definition and shape in the similarities and contrasts between the two men and their unique yet related voyages. If Odysseus is a more ancient pagan with closer ties to the feminine and Aeneus is a more modern Christian-like figure with closer ties to the masculine, one wonders if something was gained in this historical transition†¦ or if something was lost. Works Cited Homer. The Odyssey, circa 800 BC Virgil. The Aeneid, circa 20 BC

Catcher in the Rye Essay

Is Holden Caufield, out of the novel catcher in the rye written by J. D. Salinger insane in a sane world or sane in an insane world? But really what defines sane and insane this is what will be brought to attention through out this essay. According to the dictionary definition insane is some one of a not sound mind, mentally damaged or deranged or utterly senseless. Other definitions state that insanity craziness or madness is a spectrum of behaviour characterised by certain abnormal mental or behavioural patterns. Insanity may manifest as violations of societal norms, including a person becoming a danger to them selves or others. Where as sanity is defined as free from mental damage derangement, having a sound and healthy mind mind, having or showing reason, sound judgment or good sense. But in my opinion insanity is just some one out side of the norm in society’s narrow minded views. Some one who is differentiating in there points of view from what has be come the strait and normal. Society has drawn these box out lines of what is sane and in sane especially in the era that Holden grew up in. Holden is a basic young boy who differentiates from the norm a little in his characteristics, he is a little bit more head strong and aware of the realities of the world and portrayed society. Though he is generally of a rational sane mind at the beginning of the book there are a few occasions where the cracks start to show and you can catch glimpses of his â€Å"insanity† can be seen such as when Stradlater takes Jane out one night on a date and Holden states that though he has a few blank patches of memory he can remember being by the window staring out at nothing consumed in worry and dark thoughts, when Stradlater returns that night Holden shows uncharacteristic anger and rage that he can not contain resulting in him hitting Stradlater in the side of the head and when Stradlater holds him down Holden screams vulgar profanities at him in a fit of rage.

Academic English Essay Example | Topics and Well Written Essays - 1000 words - 2

Academic English - Essay Example The different areas of recognition that came from the child labor movement have proven that there are no circumstances in which child labor is an acceptable cause. Since it moves against the child’s natural physical and mental development, it is a detriment to the child to be forced to move into a labor situation and to not have the needs of a child that is growing in society. There are several companies that find it acceptable to use child labor, specifically because of the surrounding circumstances and economy. For most, this leads to a different level of reinforcement that provides the economy with more manufactured goods. More importantly, adults that aren’t able to work are able to allow their children to work under certain circumstances to support the family and the needs that are a part of the household. The main reason why child labor is continuously used is to help a family to move out of poverty and to better the circumstances in which the family is living in. More importantly, some countries have established roles with children that are based specifically on roles that the children should hold. Traditional ideals of the women’s role in society, implications of what the child is to do after they have gone through school and educational factors all influence the decision of the family to move a child into the labor force as opposed to helping them to go through the extra schooling that is required for the betterment of their cognitive development (Siddiqi, Patrinos, 2004). The several reasons behind child labor expand into the need for survival which is depicted by the family and those that are in the surrounding environment. In many countries, the concept of schooling and cognitive development is considered as secondary and isn’t as pertinent to the economic needs that are within the household. The traditional role of the household sees the aspect of child labor as one that is expected and which is a part of the upbringing of a child.

What Are the Differences Between School Performance, Operation and Essay

What Are the Differences Between School Performance, Operation and Challenges Before and After the P1 Status - Essay Example The available data on student performance has demonstrated recommendable improvement in schools’ performances. All players have employed effective and practical measures and policies to necessitate attractive academic result. To begin with, the education sector in the United States has replaced the school staffs that are immaterial in the contemporary education systems. Secondly, the education sector has instituted a new curriculum that incorporates the necessary professional development to all staffs. Thirdly, the management authority at the school level was significantly cut down to give room for consultation. Finally, the education sector was advised to recruit external experts to offer appropriate advice on the educational demands of the contemporary job market (Scott-little, 2009). Despite the significant improvement in schools performance after the introduction of P1 status, the P1 Schools have encountered various demanding complications. For instance, parents with better-performing students have the tendency of withdrawing their students in P1 schools leaving poor performers in the P1 system in order to maintain their family’s socio-economic status. This setback has, as a result, complicated the schools’ plan to move out of P1 status.

Health care-long term and capstone discussions 2 Essay

Health care-long term and capstone discussions 2 - Essay Example According to Kotter & Heskett (1992), culture change advocates find solutions that regulate everyone’s interactions and behavior. People come up with new ways of responding to others and create a different perception in which they view them. There are various services that the community provides to its people. Community based services are a long term care type which somebody may draw interest and talk about. They are services to help the disabled and senior people in a community. They include; personal care, adult day care, and transportation services among others. Some set of barriers to cultural change success in offering these services are experienced. Communication barrier is one aspect. These are skills involved in conversation. For example, most Hispanic and the Native American patients are often used to indirect communication instead of instruction or direct communication. Offering services to such patients in direct communication thus becomes a problem. A s econd set of barrier is in the care system. These are issues of accessibility, availability and acceptability of services. These services may not be available to the minority group and less accessible due to linguistic, geographic or financial features. Discuss the legal liability in terms of governance in long-term care settings. What agencies have oversight authority? Provide one real life example of a long-term care liability issue that could conflict with a governance function. The requirement by federal law is that facilities for long term care should provide activities and services that maintain the well being of every resident. The federal program in Medicare should be established to achieve such with some written plan that describes how nursing, medical and psychosocial needs shall be met. These are therefore federal regulation which is in the real sense legal. False claims however occur when agencies are set in place to practice

Developing Good Business Sense Essay Example | Topics and Well Written Essays - 750 words

Developing Good Business Sense - Essay Example McDonalds is one of those organizations that are known for continuous development in their systems. Employees at McDonalds are not only involved in manufacturing of food and different aspects of operations management, they are also well-supported by automated system, hi-tech equipments and effective supply chain management system (McDonalds-UK, 2013). A critical analysis of McDonalds’ operations helped in understanding that minimum wastage, customer-oriented approach and environmental considerations are main features that govern the performance of its employees. Hence, effective cold chain, customer services and just-in time delivery by the supplier are the main features of McDonald’s operations that also govern the task performance of its employees. Like McDonalds, KFC is also supported with highly skilled labor and automation in its system. However, there is limited attention paid to materials management in terms of supplier’s selection and waste management. Wh ere McDonalds has strategic alliances to limited suppliers, KFC has a rather extensive pool of suppliers. Yearly assessment of suppliers helps in selection for the next year. Unlike KFC and McDonalds, Amazon chose to identify the top selling items and have a readily available stock of such items. It is important to note that more than warehouse management; Amazon relies on its alliances with suppliers in different regions of the world and courier services. Therefore, employees working with Amazon are more supported with IT-based interventions than the actual manufacturing processes. McDonalds and KFC use flexible operating system when it comes to operations and materials management. They have computer-aided manufacturing programs with human intervention in a supervisory role than direct involvement in production. However, as far as delivery of ready-to-cook items and real-time cooking is concerned, it is performed through their employees. Such practice helps in ensuring that a suita ble quantity of finish product is available to meet the demands of consumers without incurring actual wastages. On the other hand, Amazon focuses on small-batch production when it comes to selection of operations and materials management. The storing capacity of Amazon is rather limited and it focuses on having strategic alliances in different regions for catering customers all around the world instead of having physical facilities across the globe. Only limited items are stored based on their past selling patterns and consumers’ demands. As far as their operations and materials management costs are concerned, McDonalds and KFC incur costs in terms of raw materials purchase, plant management and basic manufacturing, labor, inventory management and distribution (Jones, 2007). All these components are inevitable to incur as these fast food chains cannot outsource manufacturing processes. On the other hand, Amazon incurs costs because of products’ purchase, warehousing an d distribution along with human resource management. Since it does not perform direct manufacturing i.e. publishing, CD burning etc, itself, therefore it purchases ready products from publishers and vendors in different regions and deliver them to customers accordingly. Main source of costs is expected to be warehousing and d

Origin and establishment of Christianity in Armenia Essay

Origin and establishment of Christianity in Armenia - Essay Example The foundation of the Armenian Apostolic Church was continued by St. Bartholomew, another Christ’ disciple, who came to Armenia and preached mostly in the province of Siunik, where he martyred. He is probably mentioned in the gospels under the name of Nathanael. He started his preaching in Armenia in the Koghtan region where he founded a church. Two apostles started two lines of bishops, the Sees of Ardaz and Siunik. Notwithstanding the lack of written documents or objective evidence, as well as gaps in the lines, historians have to admit the succession of bishops basing on the tradition. According to different versions, the See of Ardaz is ascribed from seven to nine bishops, including Zaharia, Zementus, Atrnerseh, Moshe, Sghahen, Shavarsh, Ghevondius, and Mehoroujan, with a name missing for the years 193-230 and eight or five bishops, the successors of St. Bartholomew. The two sets were not independent of each other but had the same centers in Edessa and Caesarea.The amount of Christian enlarged steadily, though the persecutions continued. The Armenian King Sanatruk was followed by Vaharsh, Khorsov I and Trdat III. However, it was during the reign of the latter that Christianity was established as an official church of the Armenia, which is said to be the first precedent in the world’s history. The adoption of Christianity by Trdat is surrounded with legends that much influenced the religious literature of Armenia created in the following centuries and shaped the religious outlook of the people.

What is the American Dream and is it still alive today Essay

What is the American Dream and is it still alive today - Essay Example What is the American dream and is it still alive today essay examines the American dream with a focus on whether people have abandoned the dream to pursue their personal self-interests. If the American dream is still present and alive, does it still hold for all Americans? This is the question that ardent followers of the American philosophy want conclusive answers. Currently, the question that lingers in the minds of most American citizens is whether they are still able to achieve this dream. Due to the American dream essay, America is a country that prides in economic mobility where chances for equal opportunities for success are possible, but, whether every single individual can succeed remains an unsolved puzzle. The hurting reality is that inasmuch as statistics show that 84% of people out-earn their parents and that the poorest Americans are better off than they used to, it’s still not easy to move from one social class to another. The rich people do all they can to consolidate their riches while the poor remains in their class. Class mobility is not very much easy in America compared to its neighbor Canada and another country like Britain. It is projected that an increase in one’s income may not necessarily prompt a shift in class since the gap between the rich and the poor is too wide. Even though movement across one class seems hard, there is one solution that has been seen to enable people move up their social class.

The Importance of Deductive Reasoning Essay Example for Free

The Importance of Deductive Reasoning Essay We make decisions every day that impact our lives. Some individuals, just do not realize how much. Whether we realize it or not, everything we do and say, is a result of a decision we have made. There is no easy way to change the fact that we make decision, however we can change how we approach the decision, resulting in better outcomes from making better choices. If an individual knew what the results of doing something will end up being, then, they can decide if that is the best course of action or decision that they want to make. If an individual knows all of their options and the outcomes of those choice they can deduce from the best choice. When making a decision, such as buying a car, you need to know all of your options and what responsibility’s they will include, how high is the interest rate? What will your payments and insurance be? Do you want to finance the car or lease it? These are all just some of things that need to be thought about when you are looking to buy. By knowing everything before you decide to purchase something you will not be caught off guard when you find out how high or how much the payments are. Also if you could really afford the car and if you had been better off not purchasing it. It is so important to know and understand what is known prior to making a decision because it could and most of the time will affect others and yourself. The process of deductive reasoning helps in the understanding of an argument because it starts with a general statement and then attains at a specific conclusion. According to Moore, B.M. Parker, R. (2012) â€Å"Its main purpose is not to make you either more persuasive or a better contestant against others, but to improve your ability to come to conclusions that are correct and make decisions that are wise†. Deductive reasoning is like, thinking of as your guideline, for using the premise to the end of your conclusion. For example all red haired women are vegetarians. Julia Roberts is a rad haired women. Therefore Julia Roberts is a vegetarian. Deductive reasoning helps aid in understanding an argument by â€Å"an argument is the attempt to support a claim by providing reasons for accepting it† (Moore, B.M. Parker, R. 2012). By avoiding certain kinds of problems by defining the key terms in a claim can help with the aiding in a deductive argument. Having all the facts and information can help make better life choices. In conclusion thinking critical and having deductive reasoning can making your life a little less stressful and you a happier person. Not to mention others, if you are a boss and you think about the cause and effect actions that you have on them, it can save you stress from losing a valuable employee and money. There is that saying think before you act.

Importance of Quality Assurance in Forensic Science

Importance of Quality Assurance in Forensic Science Introduction How important is ‘Quality’ in Forensic Science? Some may say ‘Quality’ is very important and others may disagree. The purpose of this essay is to outline the importance ‘Quality’ has in Forensic Science and whether ‘Quality’ is practiced in all Forensic settings. What is Quality assurance? Quality assurance is the basic maintenance of a specific level of Quality within a working practice, designed to ensure attention to detail is achieved and products are free of faults (5). In this case Quality assurance has become an essential element of modern forensic science (8), it is guarantying that a consistent set of standard and integrity and the level of maintenance is achieved and sustained throughout Forensic science establishments. This means ensuring that reliable and accurate testing are undertaken at all times (6). Quality assurance involves Quality control checks to be done to confirm that test results obtained are accurate and re liable (6) which guarantees that the standard of Quality is being maintained. Forensic Science has an important part to play in criminal investigations when a case is taken to court. Forensic science involves the search for and examination of evidence which can be useful in securing convictions (1). It is a very important aspect as it relies on science testimonies rather than witness statements. In order for Forensic Science to be fully relied on within a case, the Quality of the Laboratory where the evidence is examined should be an appropriate operating working standard (Quality assurance). Main Why is Quality deemed to be important? Well if Quality assurance and control are not programmed within an establishment such as a Laboratory, many companies will end up customising their own policies. This will only result in random testing being done and different interpretations being met that will not coincide with each other. But why is this important in Forensic Science? It is important in the Forensic science setting because if every laboratory adopted their own policies, for example how evidence is tested and what conditions they are tested in, when evidence is presented in court there could be questions on ‘how do we know what conditions evidence is tested in (could there b contamination) and if protocol and procedures used by this company is right’. In order for standard of procedure to be maintained, I believe it is important that all Laboratories that handle evidence are accredited and use the same procedures and policies throughout to ensure all results are c o-insistent with each other. Andrew Rennison the Forensic Science Regulator from 2008-2014, main job was to ensure that all Forensic Science services had the appropriate regime of scientific quality standards (2). Over the years he improved or made new standards of quality to ensure Forensic science services such as Laboratories underwent accreditation. He wanted to ensure that all crime scene evidence were being tested in the best (accredited) Laboratories there were. However under the time Andrew Rennison was the Forensic Science Regulator there were many Laboratories that were handling criminal evidence without being officially accredited. Could these results of evidence pieces be fully relied on? Why weren’t these Laboratories accredited? Accreditation is the means of assessing the reliability and integrity of an organisation such as a Laboratory ensuring it meets the specific requirements in order to reduce risks under the international accreditation standards (3). The organisations which appoint accreditation are called ‘accreditation bodies’ (4). There are many steps that are taken for a company to gain accreditation. One of the first steps requires registry, this involves money. Could this be the reason why many Laboratories are not accredited? Well in 2013 many companies lost accreditation, not because they were dirty and seen as unreliable with evidence testing but due to a failure of not paying the fees. Accreditation seems to be a voluntary process, but how does one know if the level of Quality is being maintained in a company were accreditation has not be achieved? Surely it should be compulsory, especially for Laboratories that are handling evidence that may be presented to court. Are accredited Laboratories better to use than the non accredited ones? Well that is a personal opinion. Put yourself in this situation, evidence presented against you. Would you want it to be tested in a Laboratory, where the standard of quality is high as they have passed inspections and gained an accreditation certificate or in a Laboratory where the quality of the Laboratory is unknown and they have not gained accreditation, due to not paying fees or some other reason? In London right now there are many Laboratories that are in the process of gaining accreditation, but are still undergoing evidence testing. Although accreditation has a big part to play with the maintenance of quality, there are other factors that affect quality standards. For example the closure of the Forensic Science Service (FSS) had an effect on quality in the Forensic science industry. This was because many small companies had the pressure placed on them and were given a heavier workload which lead to many mistakes occurring, questioning their standard of quality (7). What happens if Quality is not maintained? Well there are many cases where poor quality standards in a Laboratory have caused cases to be reviewed or collapse, this is due to the Forensic evidence being examined and tested inappropriately or with possible contamination. There are also cases where good standard of quality has lead to evidence being tested correctly and lead to convictions. For example the convictions made in the Stephen Lawrence case was due to the extensive work and excellent standard of quality both in the Laboratory and the scientists work. Analysis was done on a jacket and sweatshirt worn by the suspects in the case, twice in 1993 and 1995. Both times scientists found no conclusive evidence. Could this have been due to the way in which quality was controlled in Forensics? Well in 2006 all evidence items in the case was submitted to LGC Forensics (9), at this time the Laboratories used were all accredited and so were deemed to comply with the standard of quality (1 0). Not only did the Laboratory and the scientists find DNA particles, they also found hair and 7 fibres from the sweatshirt, where 6 matched the victim’s trouser and a lone fibre which matched the victim’s polo shirt (11). Another 16 fibres were found on the jacket of the second suspect which was also a definite match to the victim (9). Surely the two failed attempts of not finding any evidence could have seen the suspects get away with murder if the LGC Forensics an accredited Laboratory had not got involved. However although LGC Forensics were credited for the great work they undertook in the Stephen Lawrence case, this company was put under scrutiny in 2011 when a suspect was wrongly convicted of rape. The evidence submitted to the Laboratory was later shown to have an error of contamination during the time the evidence was tested (12). This shows that although a Laboratory is accredited and is believed to have a high standard of quality, there can be many situations where the standard of quality can be flawed. Conclusion In this essay the importance of quality in Forensic science has been explored. How accredited Laboratories have had good standard of quality and also how accredited Laboratories have failed in maintaining their quality has been discussed. When quality within a Forensic setting falls below a certain standard mistakes such as contamination in the rape case seen above can occur. If quality is to be maintained throughout, more routinely checks should be done by both the Accreditation bodies and owners of companies. This will ensure the level of maintenance needed is maintained always, all standard procedures are being followed for testing done by new and existing scientists and equipment is thoroughly checked and cleaned to prevent contamination. The standard of quality may have dropped when the FSS was closed, as they received heavier workloads which lead to them making many mistakes but also because many experienced and knowledgeable scientists in specific areas were left without a job . Although the standard of quality may have dropped, I believe the standard of quality has risen in the Forensic world as cases such as Stephen Lawrence, would not have had the breakthrough it did if the standard of quality in the Laboratory was low and if the quality undertaken by the scientist‘s did not reach the levels needed in today’s Forensic science services. Hopefully in the future there will be a rise in the number of accredited Forensic Laboratories so maintenance of quality can be somewhat controlled as I believe quality has a significance importance within Forensic science.

Islamic Securitisation and Conventional Securitisation

Islamic Securitisation and Conventional Securitisation Introduction: According to the topic of discussing the differences between Islamic securitisation and conventional securitisation, the discussion will lead to the satisfactory aspects of comprehensive analysis of the information gathered during the research. Moreover, it continues with the Islamic securitisation structure on the qualitative as well as quantitative basis according to the difference from the conventional securitisation structure. Securitisation which openly deals with the trade have more emphasis on the aspects to provide lucidity that it is riba-free (non-Islamic interest free) and its mechanism is based on shariah compliant system. We will be discussing different aspects that provide a clearer picture to mechanism that how it works i.e. structure, elements of risk shifting (risk scattering) and risk sharing in the deemed process so far as the area requires a lot more research to acquire steadiness in financial world and to enrich more on the topic some distinctive facts and figure are discussed as well. Background information of the topic: From the beginning of the Islamic banking in early 1960s which reckons the acuity of Islamic Shariah according to Quran and Sunnah brought into account as legal maxims with many ideas to facilitates the use of finance in both debt based and equity based. Not only Muslims countries regarding Islamic securitisation is worried about many factors to find a way out to enrich financial systems many other countries however following the conventional financial and banking systems. In the start and yet it is quite infant situation of securitisation because of the collective concerns of lenders or financier and borrowers. Lately, it has to move on with incentive compatibility and attractiveness for investors. Financial intermediaries even nowadays face quite drastic situations despite their in-house financial management; debt handling being a global concern. There is a wider line drawn understanding the differences between Islamic ways and uses of securitisation and its conventional counterpar t though it seems quite trembling discussing about when it is debt based securitisation. Refer to the figures shown below which signifies the basic mechanism of securitisation; providing a clearer picture to its importance. According to Masum Billah M., in his article Shariah Frameworks of Securitisation in the Capital Market, he discusses about securitisation being a prevalent method of financing nowadays more precisely in corporate sector. Furthermore he illustrates securitisation that where the company pooled its illiquid assets together and issued a claim to a pool of assets and when the assets are securitised, it made the assets tradable in the financial market. Furthermore, he presented the simplest definition that the securitisation is a process where corporation converts its physical assets in to financial assets. Masum aggregated in his words about the assets that have to be securitised have to be illiquid – cannot be traded in share market or secondary market- and should also have produce cash flows over its lifetime. Besides that, the assets should have financial value so that they can be used as a claimed against the securities. From the above depiction, a securitisation engages the s ale of a large pool of assets by an entity or the originator that creates or purchases the assets in the course of its business to bankruptcy remote, special purpose vehicle (SPV). The SPV acts as an issuer, issue and sale the securities through either in a private placement or public offering. When securitisation process is closed funds flow from the purchasers of the securities to the issuers and from the Issuers to the Originator. All these transaction occur virtually simultaneously. (Masum) Hence, the above description is the basic structure of securitisation. The actual structures are more complex because it involves more elements and participants. Refer to the rainbow-pie chart which presents a practical implication of securitisation according to Commerz bank. The above implementation can be an example of securitisation though many different approaches and products that provide seamless structure on Shariah compliant way which lie still under research yet required to be evolved. Scope of the research: The entire research is nourished on the basis of salient research techniques which consist of a vast study of reference books, written journals (inclusive of e-journals), research papers, seminar notes, open survey from public and some online resources. Furthermore, it helped a lot as a combination of theoretical and statistical comparison between conventional and Islamic securitisation in the literature review (which encompasses the knowledge as well as defined focus on the topic) with ground reality at an optimum level. Literature Review: Before moving on with detailed analysis there is a need to proclaim types (structures) of securitisation in general depiction. According to Masum, there are three main structures commonly used in securitisation. The originator chooses between three types of structures: pass-throughs, asset backed bond and pay-through. Masum further defined those structures coming forth; pass-through structures likely represent the direct ownership by the originator in a portfolio of assets. The originator services the portfolio, makes collections, and passes them to the investors. In pass through, the securities is not debt obligations of the originator thus, do not appear on the originators financial statement. Since the ownership of the assets lies with the originator, pass-through is designed to represent an assignment of a portion of ownership, rights and obligation but not a conveyance of title. (Masum) Masum elaborates that the Asset-Backed bond is collaterised by a portfolio of assets. The Asset-Backed Bond is a debt obligation of the issuers. In the issuers financial statement, the collateral remains as assets and the Asset-Backed Bond appears as a liability. The cash flows from the asset are not dedicated to the investors. The investors only receive a part of the cash flows and the residual remains with the issuers. One of the important aspect of the Asset-Backed Bond is that the securities is over-collateralized i.e. the value of the underlying assets is significantly in excess of the total obligation. For example, Company A issued RM1, 000,000.00 of bond using the Asset-Backed Bond structures. The value of the underlying assets that backed the bond is RM2, 500,000.00. The issuer chooses to over-collateralised its bond in order to provide some level of comfort to the investors. (Discussed by M.M. Billah in his paper) Lastly, he concluded with the final structure of securitisation is the pay-through structures. This structure has combination of pass-through and Asset-Backed Bond. The bond is collateralized by a pool of assets and appears on the issuers balance sheet as a debt. However, the cash flows arise from the assets is passed to the investors. The issuer only earns the service fees from the investors. From the above description of the mentioned, we can see that pass-through is the structure closest to satisfy the Islamic principle. Under pass-through, the cash flows collected are dedicated to the investors and the issuer only earns the service charge. Besides that, the security does not classify as a debt by the originator. Henceforth, conventional securitisation must be secluded according to research in different products and approaches and thus a large part of the conventional securitisation market – for example, mortgage backed securities, would be prohibited because the income (th ough not the principal) element of the cash flow would be characterised as riba. Similarly, CDOs and other such instruments could not be allowed as an asset class as these represent Debt rather than an allowable commodity or activity. However, these restrictions do not mean that an Islamic securitisation market cannot develop. There are many classes of assets with a long history of securitisation that are halal (allowable), in particular any physical asset such as plant and machinery, and many of the techniques used in a conventional securitisation transaction are equally valid in an Islamic transaction. The remainder of this article will try to show just how similar those requirements are, and point out some further underlying differences in structuring a Sharia compliant securitisation. Mervyn and Kabir (2007) conversed Islamic point of view of investments in different aspects according to ethics and moral besides regulatory framework and it is quite well defined perception that an investor needs a brighter depiction of profit generation to allow him to think about different financial intermediaries in this modern world though it is going through analysis time to time since many years following their psyche on the other hand banks being financial intermediary have to put through making most of it avoiding concept that money should not be loan according to legal maxims. According to Ayub M. (2007), Islamic principles can make the difference and that Islamic finance is passing significant milestones; which lead entrepreneurs not to stop putting their research on and on. Islamic researchers are more concerned meeting shariah compliant regulatory requirements. Sohail (2006) overstated that Islamic retail banking and finance is not only designated for Muslim community on ly; which means Islamic retail banking products are adopted to some extent because of their competency and efficiency, and are being used under the umbrella of conventional (non-Islamic) banks; they often call it as window for Islamic banking products. Detailed analysis of differences between Islamic securitisation and its conventional counterpart: Islamic lending transactions are governed by the precepts of the shariah, which bans interest and stipulates that income must be derived as return from entrepreneurial investment. Since Islamic finance is predicated on asset backing and specific credit participation in identified business risk, structuring shariah-compliant securitisation seems straightforward. As mentioned in by Kabir and Mervyn (2007) according to Humayoun A. Dar; fixed-return modes deals with the control and management of funds as clients have the possession which was made available by the investors, financial frameworks are often used with different areas of Islamic banking products like investment accounts based on mudharabah and saving account based on wadia, inclusive of Islamic retail banking products like Islamic mortgages, Islamic auto finance, sukuk (Islamic bonds) and many other products dealt with the concept of asset-backing and riba-free i.e. Islamised frameworks. Nonetheless, financial institutions have been able to develop various forms of Islamic finance instruments that are virtually identical to their conventional counterparts in substance. Since most Islamic financial products are based on the concept of asset backing, the economic concept of asset securitisation is particularly amenable to the basic tenets of Islamic finance. Securitisation under Islam ic law bars interest income and must be structured in a way that rewards investors for their direct exposure to business risk, i.e., investors receive a share of profits commensurate to the risk they take on in lieu of pre-determined interest. All three asset types of Islamic finance are principally eligible for Islamic securitisation; however, unresolved issues, including restrictions on debt trading or the management of prepayment risk could limit their indiscriminate use as collateral. Characteristics of conventional securitisation only apply if they convey a sufficient element of ownership to investors as entrepreneurial investment in real economic activity within an interest-free structural arrangement. In addition, also administrative issues, such as underwriting standards, issue placement and the procurement of ratings, are subject to religious scrutiny. Any capital generated from securitised issuance under Islamic law is to be used exclusively used for the repayment of initial funding. Conventional securitisation, which originated in non-Islamic economies, invariably involves interest bearing debt. Although the religious prohibition of the exchange of debt and the required conferral of ownership interest to participate in business risk still poses challenges to further development of Islamic securitisation, the gradual acceptance of Islamic investment certificates, so-called sukuk bonds, represents a successful attempt to overcome these impediments based on the adequate interpretation and analogical reasoning of shariah principles applied in Islamic finance. Sukuks are shariah-compliant and tradable asset-backed, medium-term notes, which have been issued internationally by governments, quasi sovereign agencies, and corporations after their legitimization by the ruling of the Fiqh Academy of the Organization of the Islamic Conference in February of 1988. Sukuk notes convey equity interest to (capital market) investors in the form of a call option on partial or complete ownership of underlying reference assets, including the right to some calculable rate of return as a share of p rofit (secondary notes) and the repayment of the principal amount (primary notes). All three broad types of Islamic finance transactions (asset-, debt- and equity-based) can be reference assets of such Islamic securities. Following exhibits (3 and 4) provide the sukuk implementations. Detailed analysis of elements of risk shifting and risk sharing in securitisation process: Over the last five years, the sukuk has evolved as a viable form of capital-market-based Islamic structured finance, which reconciles the concept of securitisation and principles of the shariah law on the provision and use of financial products and services in a risk-mitigation structure subject to competitive pricing (El-Qorchi, 2005). Notwithstanding these religious constraints, Islamic finance can synthesize close equivalents to equity, mortgages, and derivatives known in conventional finance. To this end, it relies on structural arrangements of asset transfer between borrowers and lenders to emulate traditional interest-bearing financial contracts. Since lending transactions under Islamic law are based on the concept of asset backing and specific credit participation in identified business risk, it also appears relatively straightforward to structure a shariah-compliant asset-backed securitisation (ABS) that delivers a risk-return profile similar to a conventional structure. Howe ver, conventional securitisation was developed in non- Islamic economies and invariably involves interest-bearing debt. Essentially, asset securitisation represents a cost-efficient and flexible structured finance1 technique of liquidity transformation and risk transfer, which converts present or future asset claims of varying maturity and quality into tradable debt securities. The various methods of securitisation have much to offer, but so far they have found only limited acceptance in Islamic finance due to religious restrictions on the sale and purchase of interest-bearing debt and legal uncertainty surrounding the enforceability of investor interest under Islamic jurisprudence. Over the last five years, the nascent Islamic securitisation market has seen many positive developments owing to the adoption of enabling capital market regulations, a favorable macroeconomic environment, and financial innovation aimed at establishing shariah compliance. The most popular ABS structures w ithin Islamic finance are commonly referred to as sukuk bonds backed by either one of the three basic forms of Islamic finance (synthetic loans, sale- leasebacks, or profit-sharing arrangements). Asset securitisation describes the process and the result of issuing certificates of ownership as pledge against existing or future cash flows from a diversified pool of assets (reference portfolio) to investors. (Jobst, 2006b). Foreign Investment Insurance Policy-FIIP by The Islamic Corporation For The Insurance of Investment And   Export Credit ICIEC Islamic securitisation transforms bilateral risk sharing between borrowers and lenders in Islamic finance into the market-based refinancing of one or more underlying Islamic finance transactions. Protection against basic risk; can be unless returns for investors are linked to the rate of interest on the underlying assets, there is a risk that the relationship between the rate paid on the underlying assets and that paid on the securities will differ over time. Normally a swap will be arranged to protect against this risk. In addition, conventional securitisation is virtually absent in Islamic countries, where Islamic home finance and sukuks provide a potentially untapped market for structured finance. Islamic securitisation complements the conventional ABS universe as an alternative and more diversified funding option that broadens the pricing spectrum and asset supply as high demand for alternative investment products causes greater lending width amid a low-yield market environment. In some circumstances, the shariah compliance also entails tax exemptions when investors hold direct ownership interest in the securitised assets. Conclusion: Islamic securitisation is a helpful and important tool, which must be carried out prior to the issuance of Islamic bonds or Islamic Debt Securities. By securitising assets, the Islamic way, Muslim investors can now participate in the bond market without worrying that the process of securitising the assets and issuing of the bonds are contradictory to the Islamic teachings. Islamic finance is being more attractive for not only the Muslim community but for non-muslim world. Its products are being progressive even though there been some hurdles and late development of Islamic banking and finance industry and moreover it is has been so securitised for customer satisfaction and avoided almost the pity of riba-based banking structure. In this regard, it has a more focus on the revision and research on the proposed and as well as on financial structures that are being practiced nowadays. It has been proven that many big names like HSBC, Lloyds and Standard Chartered are putting there focus on Islamic products and especially on retail banking products and securitisation products. Suggestions and Recommendations: Islamic Finance Expanding Rapidly (2007) by IMF(MCM Dept.) Many Islamic products have the thirst to be researched on and provided quite attractive picture for entrepreneur to spot focus on Islamic finance industry. Besides many Islamic retail banking products, Sukuk (i.e. Islamic Bonds – despite of the type), Takaful (Insurance) and Tawarruq (AAOIFI standardised loan) are called out as the future for Islamic banking and might have a better attraction to conventional banking world as well. References(s): Aggarwal, R. K. Yousef, T. (2000) Islamic Banking and Investment Financing, Journal of Money, Credit and Banking, Blackwell Publishing Ahmad Ausaf (1993) Research Paper 20: Contemporary practices of Islamic financing techniques, Islamic Research and Training Institute, Islamic Development Bank, Jeddah Ahmad Ausaf (1987) Development and Problems of Islamic Banks, Islamic Development Bank, Jeddah Ayub M. (2007) Understanding Islamic Finance, John Wiley and Sons Ltd, Chichester Commerz Bank, Securitisation of Banks, https://cbcm.commerzbank.com/en/site/banks/securitisation_cf_banks/index.jsp [Access Date: 14th August 2010] Deringer (2006), Islamic finance: basic principles and structures Freshfields Bruckhaus Consultants, pp 30. Dualeh, S. (1998). Islamic Securitisation: Practical Aspects. Paper presented at the World Conference on Banking, July 8-9, 1998, Geneva. El-Qorchi, Mohammed (2005), Islamic Finance Gears Up, Finance and Development (December), International Monetary Fund (IMF), 46-9. Fabozzi, F. J. (ed). (2001). Accessing Capital Markets through Securitisation. New York: Fran J Fabozzi Associates. Hassan Kabir M. Lewis Mervyn K. (2007) Handbook of Islamic Banking, Edward Elgar Publishing Ltd., Cheltenham IMF, Islamic Finance Expanding Rapidly, URL: [Accessed on: 18th August 2010] http://www.imf.org/external/pubs/ft/survey/so/2007/res0919b.htm Islamic Credit and Political Risk Insurance, A Useful Risk Management Tool For BanksURL:http://www.kantakji.com/fiqh/Files/Insurance/Islamic%20Credit%20and%20Political%20Risk%20Insurance.htm [Access Date: 17th August 2010] Jaffar S. (2006) Islamic Retail Banking and Finance: Global Challenges and Opportunities, Euromoney Books, London Jobst, Andreas A. (2006b), Asset Securitisation: A Refinancing Tool for Firms and Banks, Managerial Finance, Vol. 32, No. 9, 731-60. Kazarian G. E. (1993) Islamic versus traditional banking: Financial Innovation in Egypt, Boulder: Westview Press Kothari, Vinod (n.d.). Securitisation: a Primer. Available at: , Access Date: 17th August 2010. Manjoo F. A., (2005) Securitisation: An Important Recipe for Islamic Banks A Survey, Review of Islamic Economics, Vol. 9, No. 1, 2005, pp.53 Masum Billah, M. (unknown), Shariah Frameworks of Securitisation in the Capital Market URL: http://www.applied-islamicfinance.com/sp_securitisation_1.htm [Access Date: 10th August 2010] Mullineux, A. W. Murinde, V. (2003) Handbook of International Banking, Edward Elgar Publishing Ltd., Cheltenham Usmani M. M. T. (1988), An Introduction to Islamic Finance, Islamic Publication, pp. 1-5, Karachi Zaher, Tarek S. Hassan, Kabir M. (2001) A comparative Literature Survey of Islamic Finance and Banking; Financial Markets, Institutions and Intruments, Blackwell, New York Islamic Securitisation and Conventional Securitisation Islamic Securitisation and Conventional Securitisation Introduction: According to the topic of discussing the differences between Islamic securitisation and conventional securitisation, the discussion will lead to the satisfactory aspects of comprehensive analysis of the information gathered during the research. Moreover, it continues with the Islamic securitisation structure on the qualitative as well as quantitative basis according to the difference from the conventional securitisation structure. Securitisation which openly deals with the trade have more emphasis on the aspects to provide lucidity that it is riba-free (non-Islamic interest free) and its mechanism is based on shariah compliant system. We will be discussing different aspects that provide a clearer picture to mechanism that how it works i.e. structure, elements of risk shifting (risk scattering) and risk sharing in the deemed process so far as the area requires a lot more research to acquire steadiness in financial world and to enrich more on the topic some distinctive facts and figure are discussed as well. Background information of the topic: From the beginning of the Islamic banking in early 1960s which reckons the acuity of Islamic Shariah according to Quran and Sunnah brought into account as legal maxims with many ideas to facilitates the use of finance in both debt based and equity based. Not only Muslims countries regarding Islamic securitisation is worried about many factors to find a way out to enrich financial systems many other countries however following the conventional financial and banking systems. In the start and yet it is quite infant situation of securitisation because of the collective concerns of lenders or financier and borrowers. Lately, it has to move on with incentive compatibility and attractiveness for investors. Financial intermediaries even nowadays face quite drastic situations despite their in-house financial management; debt handling being a global concern. There is a wider line drawn understanding the differences between Islamic ways and uses of securitisation and its conventional counterpar t though it seems quite trembling discussing about when it is debt based securitisation. Refer to the figures shown below which signifies the basic mechanism of securitisation; providing a clearer picture to its importance. According to Masum Billah M., in his article Shariah Frameworks of Securitisation in the Capital Market, he discusses about securitisation being a prevalent method of financing nowadays more precisely in corporate sector. Furthermore he illustrates securitisation that where the company pooled its illiquid assets together and issued a claim to a pool of assets and when the assets are securitised, it made the assets tradable in the financial market. Furthermore, he presented the simplest definition that the securitisation is a process where corporation converts its physical assets in to financial assets. Masum aggregated in his words about the assets that have to be securitised have to be illiquid – cannot be traded in share market or secondary market- and should also have produce cash flows over its lifetime. Besides that, the assets should have financial value so that they can be used as a claimed against the securities. From the above depiction, a securitisation engages the s ale of a large pool of assets by an entity or the originator that creates or purchases the assets in the course of its business to bankruptcy remote, special purpose vehicle (SPV). The SPV acts as an issuer, issue and sale the securities through either in a private placement or public offering. When securitisation process is closed funds flow from the purchasers of the securities to the issuers and from the Issuers to the Originator. All these transaction occur virtually simultaneously. (Masum) Hence, the above description is the basic structure of securitisation. The actual structures are more complex because it involves more elements and participants. Refer to the rainbow-pie chart which presents a practical implication of securitisation according to Commerz bank. The above implementation can be an example of securitisation though many different approaches and products that provide seamless structure on Shariah compliant way which lie still under research yet required to be evolved. Scope of the research: The entire research is nourished on the basis of salient research techniques which consist of a vast study of reference books, written journals (inclusive of e-journals), research papers, seminar notes, open survey from public and some online resources. Furthermore, it helped a lot as a combination of theoretical and statistical comparison between conventional and Islamic securitisation in the literature review (which encompasses the knowledge as well as defined focus on the topic) with ground reality at an optimum level. Literature Review: Before moving on with detailed analysis there is a need to proclaim types (structures) of securitisation in general depiction. According to Masum, there are three main structures commonly used in securitisation. The originator chooses between three types of structures: pass-throughs, asset backed bond and pay-through. Masum further defined those structures coming forth; pass-through structures likely represent the direct ownership by the originator in a portfolio of assets. The originator services the portfolio, makes collections, and passes them to the investors. In pass through, the securities is not debt obligations of the originator thus, do not appear on the originators financial statement. Since the ownership of the assets lies with the originator, pass-through is designed to represent an assignment of a portion of ownership, rights and obligation but not a conveyance of title. (Masum) Masum elaborates that the Asset-Backed bond is collaterised by a portfolio of assets. The Asset-Backed Bond is a debt obligation of the issuers. In the issuers financial statement, the collateral remains as assets and the Asset-Backed Bond appears as a liability. The cash flows from the asset are not dedicated to the investors. The investors only receive a part of the cash flows and the residual remains with the issuers. One of the important aspect of the Asset-Backed Bond is that the securities is over-collateralized i.e. the value of the underlying assets is significantly in excess of the total obligation. For example, Company A issued RM1, 000,000.00 of bond using the Asset-Backed Bond structures. The value of the underlying assets that backed the bond is RM2, 500,000.00. The issuer chooses to over-collateralised its bond in order to provide some level of comfort to the investors. (Discussed by M.M. Billah in his paper) Lastly, he concluded with the final structure of securitisation is the pay-through structures. This structure has combination of pass-through and Asset-Backed Bond. The bond is collateralized by a pool of assets and appears on the issuers balance sheet as a debt. However, the cash flows arise from the assets is passed to the investors. The issuer only earns the service fees from the investors. From the above description of the mentioned, we can see that pass-through is the structure closest to satisfy the Islamic principle. Under pass-through, the cash flows collected are dedicated to the investors and the issuer only earns the service charge. Besides that, the security does not classify as a debt by the originator. Henceforth, conventional securitisation must be secluded according to research in different products and approaches and thus a large part of the conventional securitisation market – for example, mortgage backed securities, would be prohibited because the income (th ough not the principal) element of the cash flow would be characterised as riba. Similarly, CDOs and other such instruments could not be allowed as an asset class as these represent Debt rather than an allowable commodity or activity. However, these restrictions do not mean that an Islamic securitisation market cannot develop. There are many classes of assets with a long history of securitisation that are halal (allowable), in particular any physical asset such as plant and machinery, and many of the techniques used in a conventional securitisation transaction are equally valid in an Islamic transaction. The remainder of this article will try to show just how similar those requirements are, and point out some further underlying differences in structuring a Sharia compliant securitisation. Mervyn and Kabir (2007) conversed Islamic point of view of investments in different aspects according to ethics and moral besides regulatory framework and it is quite well defined perception that an investor needs a brighter depiction of profit generation to allow him to think about different financial intermediaries in this modern world though it is going through analysis time to time since many years following their psyche on the other hand banks being financial intermediary have to put through making most of it avoiding concept that money should not be loan according to legal maxims. According to Ayub M. (2007), Islamic principles can make the difference and that Islamic finance is passing significant milestones; which lead entrepreneurs not to stop putting their research on and on. Islamic researchers are more concerned meeting shariah compliant regulatory requirements. Sohail (2006) overstated that Islamic retail banking and finance is not only designated for Muslim community on ly; which means Islamic retail banking products are adopted to some extent because of their competency and efficiency, and are being used under the umbrella of conventional (non-Islamic) banks; they often call it as window for Islamic banking products. Detailed analysis of differences between Islamic securitisation and its conventional counterpart: Islamic lending transactions are governed by the precepts of the shariah, which bans interest and stipulates that income must be derived as return from entrepreneurial investment. Since Islamic finance is predicated on asset backing and specific credit participation in identified business risk, structuring shariah-compliant securitisation seems straightforward. As mentioned in by Kabir and Mervyn (2007) according to Humayoun A. Dar; fixed-return modes deals with the control and management of funds as clients have the possession which was made available by the investors, financial frameworks are often used with different areas of Islamic banking products like investment accounts based on mudharabah and saving account based on wadia, inclusive of Islamic retail banking products like Islamic mortgages, Islamic auto finance, sukuk (Islamic bonds) and many other products dealt with the concept of asset-backing and riba-free i.e. Islamised frameworks. Nonetheless, financial institutions have been able to develop various forms of Islamic finance instruments that are virtually identical to their conventional counterparts in substance. Since most Islamic financial products are based on the concept of asset backing, the economic concept of asset securitisation is particularly amenable to the basic tenets of Islamic finance. Securitisation under Islam ic law bars interest income and must be structured in a way that rewards investors for their direct exposure to business risk, i.e., investors receive a share of profits commensurate to the risk they take on in lieu of pre-determined interest. All three asset types of Islamic finance are principally eligible for Islamic securitisation; however, unresolved issues, including restrictions on debt trading or the management of prepayment risk could limit their indiscriminate use as collateral. Characteristics of conventional securitisation only apply if they convey a sufficient element of ownership to investors as entrepreneurial investment in real economic activity within an interest-free structural arrangement. In addition, also administrative issues, such as underwriting standards, issue placement and the procurement of ratings, are subject to religious scrutiny. Any capital generated from securitised issuance under Islamic law is to be used exclusively used for the repayment of initial funding. Conventional securitisation, which originated in non-Islamic economies, invariably involves interest bearing debt. Although the religious prohibition of the exchange of debt and the required conferral of ownership interest to participate in business risk still poses challenges to further development of Islamic securitisation, the gradual acceptance of Islamic investment certificates, so-called sukuk bonds, represents a successful attempt to overcome these impediments based on the adequate interpretation and analogical reasoning of shariah principles applied in Islamic finance. Sukuks are shariah-compliant and tradable asset-backed, medium-term notes, which have been issued internationally by governments, quasi sovereign agencies, and corporations after their legitimization by the ruling of the Fiqh Academy of the Organization of the Islamic Conference in February of 1988. Sukuk notes convey equity interest to (capital market) investors in the form of a call option on partial or complete ownership of underlying reference assets, including the right to some calculable rate of return as a share of p rofit (secondary notes) and the repayment of the principal amount (primary notes). All three broad types of Islamic finance transactions (asset-, debt- and equity-based) can be reference assets of such Islamic securities. Following exhibits (3 and 4) provide the sukuk implementations. Detailed analysis of elements of risk shifting and risk sharing in securitisation process: Over the last five years, the sukuk has evolved as a viable form of capital-market-based Islamic structured finance, which reconciles the concept of securitisation and principles of the shariah law on the provision and use of financial products and services in a risk-mitigation structure subject to competitive pricing (El-Qorchi, 2005). Notwithstanding these religious constraints, Islamic finance can synthesize close equivalents to equity, mortgages, and derivatives known in conventional finance. To this end, it relies on structural arrangements of asset transfer between borrowers and lenders to emulate traditional interest-bearing financial contracts. Since lending transactions under Islamic law are based on the concept of asset backing and specific credit participation in identified business risk, it also appears relatively straightforward to structure a shariah-compliant asset-backed securitisation (ABS) that delivers a risk-return profile similar to a conventional structure. Howe ver, conventional securitisation was developed in non- Islamic economies and invariably involves interest-bearing debt. Essentially, asset securitisation represents a cost-efficient and flexible structured finance1 technique of liquidity transformation and risk transfer, which converts present or future asset claims of varying maturity and quality into tradable debt securities. The various methods of securitisation have much to offer, but so far they have found only limited acceptance in Islamic finance due to religious restrictions on the sale and purchase of interest-bearing debt and legal uncertainty surrounding the enforceability of investor interest under Islamic jurisprudence. Over the last five years, the nascent Islamic securitisation market has seen many positive developments owing to the adoption of enabling capital market regulations, a favorable macroeconomic environment, and financial innovation aimed at establishing shariah compliance. The most popular ABS structures w ithin Islamic finance are commonly referred to as sukuk bonds backed by either one of the three basic forms of Islamic finance (synthetic loans, sale- leasebacks, or profit-sharing arrangements). Asset securitisation describes the process and the result of issuing certificates of ownership as pledge against existing or future cash flows from a diversified pool of assets (reference portfolio) to investors. (Jobst, 2006b). Foreign Investment Insurance Policy-FIIP by The Islamic Corporation For The Insurance of Investment And   Export Credit ICIEC Islamic securitisation transforms bilateral risk sharing between borrowers and lenders in Islamic finance into the market-based refinancing of one or more underlying Islamic finance transactions. Protection against basic risk; can be unless returns for investors are linked to the rate of interest on the underlying assets, there is a risk that the relationship between the rate paid on the underlying assets and that paid on the securities will differ over time. Normally a swap will be arranged to protect against this risk. In addition, conventional securitisation is virtually absent in Islamic countries, where Islamic home finance and sukuks provide a potentially untapped market for structured finance. Islamic securitisation complements the conventional ABS universe as an alternative and more diversified funding option that broadens the pricing spectrum and asset supply as high demand for alternative investment products causes greater lending width amid a low-yield market environment. In some circumstances, the shariah compliance also entails tax exemptions when investors hold direct ownership interest in the securitised assets. Conclusion: Islamic securitisation is a helpful and important tool, which must be carried out prior to the issuance of Islamic bonds or Islamic Debt Securities. By securitising assets, the Islamic way, Muslim investors can now participate in the bond market without worrying that the process of securitising the assets and issuing of the bonds are contradictory to the Islamic teachings. Islamic finance is being more attractive for not only the Muslim community but for non-muslim world. Its products are being progressive even though there been some hurdles and late development of Islamic banking and finance industry and moreover it is has been so securitised for customer satisfaction and avoided almost the pity of riba-based banking structure. In this regard, it has a more focus on the revision and research on the proposed and as well as on financial structures that are being practiced nowadays. It has been proven that many big names like HSBC, Lloyds and Standard Chartered are putting there focus on Islamic products and especially on retail banking products and securitisation products. Suggestions and Recommendations: Islamic Finance Expanding Rapidly (2007) by IMF(MCM Dept.) Many Islamic products have the thirst to be researched on and provided quite attractive picture for entrepreneur to spot focus on Islamic finance industry. Besides many Islamic retail banking products, Sukuk (i.e. Islamic Bonds – despite of the type), Takaful (Insurance) and Tawarruq (AAOIFI standardised loan) are called out as the future for Islamic banking and might have a better attraction to conventional banking world as well. References(s): Aggarwal, R. K. Yousef, T. (2000) Islamic Banking and Investment Financing, Journal of Money, Credit and Banking, Blackwell Publishing Ahmad Ausaf (1993) Research Paper 20: Contemporary practices of Islamic financing techniques, Islamic Research and Training Institute, Islamic Development Bank, Jeddah Ahmad Ausaf (1987) Development and Problems of Islamic Banks, Islamic Development Bank, Jeddah Ayub M. (2007) Understanding Islamic Finance, John Wiley and Sons Ltd, Chichester Commerz Bank, Securitisation of Banks, https://cbcm.commerzbank.com/en/site/banks/securitisation_cf_banks/index.jsp [Access Date: 14th August 2010] Deringer (2006), Islamic finance: basic principles and structures Freshfields Bruckhaus Consultants, pp 30. Dualeh, S. (1998). Islamic Securitisation: Practical Aspects. Paper presented at the World Conference on Banking, July 8-9, 1998, Geneva. El-Qorchi, Mohammed (2005), Islamic Finance Gears Up, Finance and Development (December), International Monetary Fund (IMF), 46-9. Fabozzi, F. J. (ed). (2001). Accessing Capital Markets through Securitisation. New York: Fran J Fabozzi Associates. Hassan Kabir M. Lewis Mervyn K. (2007) Handbook of Islamic Banking, Edward Elgar Publishing Ltd., Cheltenham IMF, Islamic Finance Expanding Rapidly, URL: [Accessed on: 18th August 2010] http://www.imf.org/external/pubs/ft/survey/so/2007/res0919b.htm Islamic Credit and Political Risk Insurance, A Useful Risk Management Tool For BanksURL:http://www.kantakji.com/fiqh/Files/Insurance/Islamic%20Credit%20and%20Political%20Risk%20Insurance.htm [Access Date: 17th August 2010] Jaffar S. (2006) Islamic Retail Banking and Finance: Global Challenges and Opportunities, Euromoney Books, London Jobst, Andreas A. (2006b), Asset Securitisation: A Refinancing Tool for Firms and Banks, Managerial Finance, Vol. 32, No. 9, 731-60. Kazarian G. E. (1993) Islamic versus traditional banking: Financial Innovation in Egypt, Boulder: Westview Press Kothari, Vinod (n.d.). Securitisation: a Primer. Available at: , Access Date: 17th August 2010. Manjoo F. A., (2005) Securitisation: An Important Recipe for Islamic Banks A Survey, Review of Islamic Economics, Vol. 9, No. 1, 2005, pp.53 Masum Billah, M. (unknown), Shariah Frameworks of Securitisation in the Capital Market URL: http://www.applied-islamicfinance.com/sp_securitisation_1.htm [Access Date: 10th August 2010] Mullineux, A. W. Murinde, V. (2003) Handbook of International Banking, Edward Elgar Publishing Ltd., Cheltenham Usmani M. M. T. (1988), An Introduction to Islamic Finance, Islamic Publication, pp. 1-5, Karachi Zaher, Tarek S. Hassan, Kabir M. (2001) A comparative Literature Survey of Islamic Finance and Banking; Financial Markets, Institutions and Intruments, Blackwell, New York

Stem Cell Research is Illegal, Immoral and Unnecessary Essay -- Argume

Stem Cell Research is Illegal, Immoral and Unnecessary    President Bush's limited federal funding of research relying on the destruction of human embryos violates federal statutory law. Christians have grieved for many years over the assault on unborn human life set loose upon our nation by the Supreme Court's Roe v. Wade decision. Even that decision, however, did not affect all areas of law where lawmakers seek to protect developing human life. Because they are not covered by the Court's theory of reproductive privacy, human embryos outside the womb may be fully protected by law - and at least nine states have acted to protect these embryos from lethal experiments. In some states, destructive experimentation on human embryos is a felony. Most Christians have grave concerns on this critically important issue of embryonic stem cell research. In our view, conducting research that relies on deliberate destruction of human embryos for their stem cells is illegal, immoral and unnecessary. It is illegal because it violates an appropriations rider (the Dickey amendment) passed every year since 1995 by Congress. That provision forbids funding "research in which" human embryos (whether initially created for research purposes or not) are harmed or destroyed outside the womb.(1) National Institutes of Health guidelines approved by the Clinton Administration nonetheless give researchers detailed instructions on how to obtain human embryos for destructive cell harvesting, if they wish to qualify for federal grants in "human pluripotent stem cell research."(2) Clearly, obtaining and destroying embryos is an integral part of this project, even if the specific act of destroying embryos does not directly receive federal funds. By i... ...uman Severe Combined Immunodeficiency (SCID)-X1 Disease," 288 Science 669-72 (28 April 2000). 16. K. Foss, "Paraplegic regains movement after cell procedure," The Globe and Mail (Toronto), June 15, 2001 at A1. 17. E. Ryan et al., "Glycemic Outcome Post Islet Transplantation," Abstract #33-LB, Annual Meeting of the American Diabetes Association, June 24, 2001. See: http://38.204.37.95/am01/AnnualMeeting/Abstracts/NumberResults.asp?idAbs=33-LB. 18. M. McCullough, "Islet transplants offer hope that diabetes can be cured," Philadelphia Inquirer, June 22, 2001 at A1. 19. D. Woodbury et al., "Adult Rat and Human Bone Marrow Stromal Cells Differentiate Into Neurons," 61 J. of Neuroscience Research 364-70 (2000) at 364 (emphasis added). 20. D. Prockop, "Stem Cell Research Has Only Just Begun" (Letter), 293 Science 211-2 (13 July 2001)(citations omitted).

Western Scientific Perspectives :: essays research papers

Anthropology 122-1   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Western Scientific Perspectives   Ã‚  Ã‚  Ã‚  Ã‚  Walking on a clear night a person can’t help but look up and see the stars. Each beautiful, illuminating the night sky along with the moon, far away yet close enough to admire and wonder. I sit sometimes outside and just look up and gaze in wonder at the stars, but the scientists in me thinks further. The stars are like our sun in the solar system, hydrogen balls, exploding, radiating energy and light in all directions yet we are so far that we see them as specks in the night sky. Then there are those night where Venus and Mercury can be seen among the stars, almost a spiritual experience. Science has taught us that gravity and other laws of nature control the movement of such celestial objects and control everyday happenings where most would not give it a second thought.   Ã‚  Ã‚  Ã‚  Ã‚  In life we all seek the truth, the truths about the universe; our surroundings. Some people seek the truth through what science tells us. The Big Bang Theory tells us that there was a massive explosion where concentrated matter is scattered all over what is the universe and over time the planets and other systems formed to their current states. Then some seek the truth through religion and God and so we have the story of Genesis from the Bible. Fritjof Capra, author of The Tao of Physics, was a high-energy physicist who conducted years of research in his career and understood his surroundings as a physicist but through his learning the religious philosophies of Hinduism, Buddhism and Taoism saw his surroundings are more than that. Capra saw a rhythm that surrounded everything.   Ã‚  Ã‚  Ã‚  Ã‚   â€Å"I ‘saw’ cascades of energy coming down from outer space, in which particles were created and destroyed in rhythmic pulses; I ‘saw’ the atoms of the elements and those of my body participating in this cosmic dance of energy; I felt its rhythm and I ‘heard’ its sound, and at that moment I knew that this was the Dance of Shiva, the Lord of Dancers worshipped by the Hindus.† (Capra, 11) Ultimately Capra discovered for himself and argues is the view of the world explained through physics and the view given by philosophies such as Hindusim, Buddhism and Taoism are parallel to each other.   Ã‚  Ã‚  Ã‚  Ã‚  According to Capra, knowledge can be divided into to parts, rational and intuitive. Everyday we learn, we gain knowledge of our surroundings and from our everyday happenings.