Monday, August 24, 2020

Lydia Pinkham Was an Inventor and Marketer

Lydia Pinkham Was an Inventor and Marketer Just a lady can comprehend a womans ills.- Lydia Pinkham Lydia Pinkham was a creator and advertiser of well known patent medication Lydia E. Pinkhams Vegetable Compound, one of the best items at any point showcased explicitly for ladies. Since her name and picture were on the name of the item, she got a standout amongst other known ladies in America. Occupation: designer, advertiser, business person, business managerDates: February 9, 1819 - May 17, 1883Also known as: Lydia Estes, Lydia Estes Pinkham Lydia Pinkham Early Life Lydia Pinkham was conceived Lydia Estes. Her dad was William Estes, a rich rancher, and shoemaker in Lynn, Massachusetts, who figured out how to get affluent from land ventures. Her mom was Williams second spouse, Rebecca Chase. Taught at home and later at Lynn Academy, Lydia filled in as an instructor from 1835 to 1843. The Estes family contradicted subjection, and Lydia knew a large number of the early abolitionist activists, including Lydia Maria Child, Frederick Douglass, Sarah Grimkã ©, Angelina Grimkã ©, and William Lloyd Garrison. Douglass was a deep rooted companion of Lydia. Lydia herself got included, joining, with her companion Abby Kelley Foster the Lynn Female Anti-Slavery Society, and she was secretary of the Freemans Society. She likewise got engaged with womens rights. Strictly, the Estes relatives were Quakers however left the nearby gathering over a contention around bondage. Rebecca Estes and afterward the remainder of the family became Universalists, likewise affected by the Swedenborgians and mystics. Marriage Lydia wedded single man Isaac Pinkham in 1843. He brought a five-year-old girl into the marriage. Together they had five additional kids; the second child kicked the bucket in earliest stages. Isaac Pinkham was associated with land however never did quite well. The family battled monetarily. Lydias job was fundamentally as the run of the mill spouse and mother of Victorian white collar class beliefs. At that point, in the Panic of 1873, Isaac lost his cash, was sued for delinquency of obligations, and for the most part self-destructed and couldn't work. A child, Daniel, lost his market to the breakdown. By 1875, the family was about down and out. Lydia E. Pinkham Vegetable Compound Lydia Pinkham had become an adherent of sustenance reformers like Sylvester Graham (of the graham saltine) and Samuel Thomson. She prepared a home cure made of roots and herbs, and including 18% to 19% liquor as dissolvable and additive. She had shared this unreservedly with relatives and neighbors for around ten years. As indicated by one legend, the first recipe went to the family through a man for whom Isaac Pinkham had paid an obligation of $25. In urgency over their money related conditions, Lydia Pinkham chose to showcase the compound. They enrolled a trademark for Lydia E. Pinkhams Vegetable Compound and copyrighted a name which after 1879 included Lydias grandmotherly picture at the recommendation of the Pinkham child, Daniel. She licensed the equation in 1876. Child William, who had no exceptional obligations, was named the legitimate proprietor of the organization. Lydia fermented the compound in their kitchen until 1878 when it was moved into another structure nearby. She by and by composed a considerable lot of the ads for it, concentrating on female protests which incorporated an assortment of illnesses including menstrual spasms, vaginal release, and other menstrual inconsistencies. The name initially and decisively guaranteed A Sure Cure for PROLAPSIS UTERI or Falling of the Womb, and every single FEMALE Weakness, including Leucorrhea, Painful Menstruation, Inflammation, and Ulceration of the Womb, Irregularities, Floodings, and so on. Numerous ladies were reluctant to counsel doctors for their female challenges. Doctors of the time frequently recommended medical procedure and other dangerous systems for such issues. This may incorporate applying bloodsuckers to the cervix or vagina. Those supporting that periods elective medication regularly went to home or business cures, for example, Lydia Pinkhams. The opposition included Dr. Penetrates Favorite Prescription and Wine of Cardui. Developing Business Selling the compound was at center a family venture, even as it developed. The Pinkham children disseminated promotions and even offered the medication entryway to entryway around New England and New York. Isaac collapsed flyers. They utilized handbills, postcards, leaflets, and notices, starting with the Boston papers. The Boston notice got orders from wholesalers. A significant patent medication merchant, Charles N. Crittenden, started to disperse the item, expanding its circulation to across the country. Promoting was forceful. The promotions focused on ladies legitimately, on the suspicion that ladies comprehended their own issues best. A bit of leeway that the Pinkhams underlined was that Lydias medication was made by a lady, and the commercials focused on supports by ladies just as by pharmacists. The mark gave the impression of the medication being hand crafted despite the fact that it was financially delivered. Advertisements frequently were intended to look like reports, ordinarily with some excruciating circumstance that could have been eased by the utilization of the compound. By 1881, the organization started showcasing the compound not just as a tonicâ but likewise as pills and capsules. Pinkhams objectives went past business; her correspondence remembering guidance for wellbeing and physical exercise. She trusted in her compound as an option in contrast to standard clinical treatment, and she needed to counter the possibility that ladies were feeble. Publicizing to Women One element of the notices of Pinkhams cure was an open and candid conversation of womens medical problems. For a period, Pinkham added a douche to the contributions of the organization; ladies frequently utilized it as contraception, but since it was promoted for sterile purposes, it was not focused for indictment under the Comstock Law. The publicizing noticeably highlighted Lydia Pinkhams picture and advanced her as a brand. Promotions called Lydia Pinkham the Savior of her Sex. The promotions additionally asked ladies to leave specialists be and called the aggravate A medication for ladies. Created by a lady. Arranged by a lady. The commercials offered an approach to keep in touch with Mrs. Pinkham and many did. Lydia Pinkhams duty in the business likewise included noting the numerous letters got. Moderation and the Vegetable Compound Lydia Pinkham was a functioning supporter of moderation. In spite of that, her compound included 19% liquor. How could she legitimize that? She guaranteed that the liquor was important to suspend and safeguard the home grown fixings, thus she didn't discover its utilization contradictory with her moderation sees. Utilizing liquor for therapeutic intentions was regularly acknowledged by the individuals who upheld restraint. While there were numerous accounts of ladies being influenced by the liquor in the compound, it was moderately protected. Other patent drugs of the time included morphine, arsenic, opium or mercury. Passing and Continuing Business Daniel, at 32, and William, at 38, the two most youthful Pinkham children, both kicked the bucket in 1881 of tuberculosis (utilization). Lydia Pinkham went to her mysticism and held seances to attempt to get in touch with her children. By then, the business was officially consolidated. Lydia had a stroke in 1882 and passed on the following year. In spite of the fact that Lydia Pinkham kicked the bucket in Lynn in 1883 at age 64, her child Charles proceeded with the business. At the hour of her passing, deals were $300,000 every year; deals kept on developing. There were a few clashes with the companys promoting operator, and afterward another specialist refreshed the publicizing efforts. By the 1890s, the compound was the most publicized patent medication in America. More pictures demonstrating womens freedom started to be utilized. Promotions despite everything utilized Lydia Pinkhams picture and kept on including solicitations to keep in touch with Mrs. Pinkham. A girl in-law and later staff individuals at the organization addressed the correspondence. In 1905, the Ladies Home Journal, which was likewise battling for food and medication security guidelines, blamed the organization for distorting this correspondence, distributing a photo of the headstone of Lydia Pinkham. The organization reacted that Mrs. Pinkham alluded to Jennie Pinkham, the little girl in-law. In 1922, Lydias little girl, Aroline Pinkham Gove, established a facility in Salem, Massachusetts, to serve moms and youngsters. Deals of the Vegetable Compound crested in 1925 at $3 million. The business diminished after that point, on account of family strife after Charles demise over how to maintain the business, the impacts of the Great Depression and furthermore changing government guidelines, particularly the Food and Drug Act, that influenced what could be guaranteed in the commercials. In 1968, the Pinkham family sold the organization, cutting off their association with it, and assembling was moved to Puerto Rico. In 1987, Numark Laboratories obtained aâ license to the medication, calling it Lydia Pinkhams Vegetable Compound. It can at present be found, for example as Lydia Pinkham Herbal Tablet Supplement and Lydia Pinkham Herbal Liquid Supplement. Fixings Fixings in the first compound: Bogus unicorn root, genuine unicorn rootBlack cohosh rootLife rootPleurisy rootFenugreek seedAlcohol More current augmentations in later forms include: Dandelion rootBlack cohosh root (as in the original)Jamaican dogwoodMotherwortPleurisy root (as in the original)Licorice rootGentian root The Lydia Pinkham Song Reacting to the medicine and its broad publicizing, a tune about it became famousâ and stayed mainstream well into the twentieth century. In 1969, the Irish Rovers remembered this for a collection, and the single made the Top 40 in the United States. The words (in the same way as other people tunes) fluctuate; this is a typical form: We sing of Lydia PinkhamAnd her adoration for the huma

Saturday, August 22, 2020

Life Is So Good by George Dawson and Richard Glaubman Essay examples --

Life Is So Good by George Dawson and Richard Glaubman Great Afternoon Ms. McCafferty, I made this arrangement since I energetically accept that the book, Life is so acceptable composed by George Dawson and Richard Glaubman ought to be on the Carey booklist for Year 9 understudies. Life is so acceptable is an eminent part account, part collection of memoirs of a multi year old dark man named George Dawson who went to class to figure out how to peruse and compose when he was 98 years of age. George Dawson might be 103 however he can in any case stroll without a stick and can recollect his existence with an uncanny capacity. That is the reason there is such a great amount of detail in this book. Life is so acceptable recounts his hard life from when he was just 6 years of age and living on a ranch in the external district of a town called Marshall in Southern Texas. In an early c...

Saturday, July 25, 2020

Melis and the AXO Chocolate Factory

Melis and the AXO Chocolate Factory When five bloggers (Anthony, Bryan, Matt, Mitra, and I) all attend the same event, you know its the place to be and be seen =) Last night, my sorority, Alpha Chi Omega (AXO), had a chocolate fondue party, where we had the opportunity to open our house to the MIT community. The event was particularly special for me because I was one of the four organizers, so we have been organizing everything for the past month. Luckily, it went off without a hitch, with about fifty staff members and 400 students in attendance! Background: There are five sororities at MIT, four of which have houses. We help our party at the AXO Mansion, which is a row house on Commonwealth Avenue (two minutes from Fenway Park.) The house used to be a doctors office and home, until MIT scooped it up a few years ago. While there are 120 girls in AXO, there is only room for 25 to live in the house. The rest of us are scattered around campus. Publicity: As this is the first big event that I planned, I got to learn the intricacies of the process. I chose to design the t-shirt and posters, and I must say I learned a lot! On Friday, all my sisters wore the shirt I designed and it was really rewarding =) Food: We bought out the worlds supply of chocolate not really but it sure felt like it. We went through three **25-lb** boxes of chocolate chips, which all went to filling the chocolate fountains and coating the array of carbohydrates. The chocolate covered strawberries and kiwis were probably my favorite. Ask Matt all about these, as he got to enjoy a strawberry the size of his fist. Music: An MIT jazz trio provided some amazing music for the party (picture below, of the band and Amy 09). They played beautifully for three hours straight! It was amazing. People: From 8-9 pm, we invited President Hockfield and her family, our professors, teaching assistants (TAs), and Graduate Resident Tutors (GRTs) for an hour of socialization with the sisters. I got to talk to many people, including the Assistant Dean of Housing about the new graduate dorm and the plans to turn a current grad dorm (Ashdown House) into an undergrad dorm in 2009 (right after I leave, not fair!) At 9, we opened up our doors to everyone. I saw a bunch of friends, old and new, so thanks to everyone who came! Matt, Shaye 08, and me: Time to study for my tests on Monday and Tuesday!!! Off to the library. I will leave you with this: Post Tagged #FSILGs

Friday, May 22, 2020

Pros and Cons of Going International - 1995 Words

Pros and cons of going international When thinking about internationalization, a lot of people instantly associate it with multinational companies. It cannot be said that they are wrong; however, internationalization is a far more complex phenomena as it does not only consist of companies setting their headquarters outside the borderlines of the countries of origin. If an entity simply decides to import or export commodities or services, their action can also be described as ‘going international’; producing effects both domestically and internationally. In recent years, the number of companies that chose to get involved in international business operations and transactions increased substantially to the point where becoming visible in†¦show more content†¦There are many companies that derive their sales from outside their home country. Very large companies such as BASF of Germany, Electrolux of Sweden, Gillette and Coca-Cola of the United States, Michelin of France, Philips of the Netherlands, Sony of Japan, Nestle of Switzerland make over half of their sales through international operations. Diversifying the sources of sales and supplies. Most of the times, in order to avoid the fluctuations in sales and profit, companies look for foreign markets; taking advantage of the business cycle differences among countries. For instance, if they incur price fluctuations or shortages in one country, they can obtain supplies of the same product and component in other. Other factors that contribute to the positive trend regarding internationalization are represented by the following: the need to increase global competition along with the quick exposure to new products, the development and expansion of technology, the liberalization of cross-border movements and the development of supporting services that ease international business (examples of supporting systems include the airmail and international payment systems). Internationalization does come with costs, though, from the immediate monetary costs incurred related to extending the operations to the risk of failure brought by the difficulty in running such operations. These costs depend on theShow MoreRelatedAmerican Eagle : Saturated The United States Market904 Words   |  4 PagesRussia, Saudi Arabia, United Arab Emirates, Thailand United Kingdom (International Stores, AE). The reason I chose this company is because it is actually a company that I used to shop at when I was in high school. 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Globalization depends on three keys of advancement, the role of human migration, international trade and rapid movements of capital. Globalization has many pros but yet also many cons that can have a deciding factor in an economy. Many people think globalization still favors the rich and it’s a detriment to countries who emerging in the world and does not have a stable or great economyRead MoreEconomics Of The Gold Standard Debate963 Words   |  4 Pagescomplicated, its sole purpose was to set the exchange value for currencies for gold. The United States eventually had to abandoned the Gold Standard because President Nixon did not allow for the redeeming of money with gold. Today, whether or not going back on the Gold Standard is dependent on the eyes of the viewer. Now that we are financially stable, many argue to implement the return. 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Going on the internet you can find any type of video and stream it, which can be good for a learning experience, but it also could have a negative experience as well. This is no different for police with body worn cameras, since there is always will be pros and cons when dealing with devices likeRead MoreInformative Speech Outline : Genetically Modified Organisms886 Words   |  4 Pagesinformation on GMOs and how they affect you, consumers as a whole, and even food businesses and the environment. IV. Preview of Main Points: (at least three main things you plan to discuss) A. First, we are going to take a bite into what GMO’s are and why then are used B. Then, we will chew through the cons of GMO’s and C. Lastly, swallow some facts on a newly passed bill regarding GMOs Body I. Main point: Now, lets talk about what exactly Genetically Modified Organisms are and why we use them in our worldRead MoreAnimal Testing and The Animal Welfare Act1417 Words   |  6 Pagesthan animal testing. According to Humane Society International, â€Å"Animals used in experiments are commonly subjected to force feeding, forced inhalation, food and water deprivation, prolonged periods of physical restraint, the infliction of burns and other wounds to study the healing process, the infliction of pain to study its effects and remedies, and killing by carbon dioxide asphyxiation, neck-breaking, decapitation, or other means† (â€Å"Pro Con†). Very graphic images of a test performed on rabbitsRead MoreProstitution: Should A Change Be Made? Essay775 Words   |  4 Pagesactivity with someone for payment.† It has been around since the first civilizations of Mesopotamia and isn’t going anywhere. Prostitution is also one of the most controversial topics i n todays modern society. There is a wide variety of different pros and cons related to this subject. With these pros and cons come supporters and critics of the concept of legalized prostitution. Those who are pro-prostitution believe legalization would do more bad than good, that it would solve more problems than it would

Friday, May 8, 2020

how did black death transformed Europe - 898 Words

How did the Black Death transform Europe? The Black Death was one of the most devastating diseases in human history. In October 1347 twelve Genoese ships came to the Sicilian port of Messina. In the following three hundred years, one-third of the European population had died due to the Black Death changing Europe significantly. Europe transformed in aspects of economy, society and religion. Massive death caused Landlords to have trouble both in finding enough manpower and collecting dues. Meanwhile, peasants’ social status seemed to rise a bit and they began to demand for higher wages. The society was awfully unstable that numerous peasants rose up against their king, Richard II. Also resulted for the miserable population decline,†¦show more content†¦They did not have to work as hard as before and stick to one master. They did not have to worry about couldn’t find a job. Just the opposite, they are working on different farms and their living standard improved , as well as their social status. This is probably the only benefit that the peasants enjoyed during the period of Black Death in regard of economy, but certainly a financial trough for Europe. Aside from the economy, the society of Europe had become very unstable and went through some big changes. A common phenomenon along with all other widely spread disease is starvation. There was not enough manpower to harvest, so both rural and urban area suffered from food shortage, thus causing a serious inflation. For example, â€Å"in some parts of England, food prices went up by four times.† (The HLS) This put the poor in a very desperate situation. Meanwhile, the landlords didn’t show any sympathy for the peasants, they kept collecting tax and tried to lower the farmers’ salary. There was even a law published for the sake of lords’ interests. It confined peasants’ wages to the level in 1346, and prohibited peasants from going to villages other than his own master’s for â€Å"a better income† This caused a great indignation among the serfs and later lead to a revolt known as the Peasants Revolt. Thousands of peasants with their lea der, Wat Tyler, marched to London to meet the king,Show MoreRelatedThe Economic, Political, and Social Effects of the Black Death1268 Words   |  6 Pages1351 in Europe. This massive destruction of human life was known as the Black Death. This Black Death was an ecological disaster on a global scale. The effects of the plague on human and certain animal populations from East Asia to as far west as Greenland were catastrophic. All facets of society, from peasant to king were affected; no one was safe. All of society was affected; nothing would ever be the same. Thus, there were many economic, social, and political effects of the Black Death. BeforeRead MoreEssay about black death1251 Words   |  6 Pages nbsp;nbsp;nbsp;nbsp;nbsp; Black Death nbsp;nbsp;nbsp;nbsp;nbsp; The people at the Messina Harbor , a port in Northeast Sicily , stood and watched as a Genoese fleet made its way to dock..(Gottfried 141-144). The people standing ashore could by no means conceive of the horror found on board of these ships. The crew had a disease the like of which no one had seen before in the history of western civilization. The harbor masters looked on in complete awe and terror and tried to quarantineRead MoreMedieval Medicine. Life For People During The Medieval1329 Words   |  6 PagesLife for people during the Medieval Times, also known as the Dark Ages or middle ages, between 400 – 1450 was incredibly difficult due to disease and illnesses being spread throughout Europe. Medieval medicine during the time was easily misunderstood and generally mistreated. 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She asked her cousin, who was in her sixties, to describe what her life was like as a black person living in Holland. Her cousin’s shocking reply implied that the migration of poor and uneducated post-independence Surinamers caused the Dutch racism against the Black people among them. Her cousin, who had migrated before Surinam became independent, reported that black people use d to be accepted before the independence (Brown 204). This reply shows that there were at least twoRead MoreLife of Petrarch by Ernest Hatch Wilkins1328 Words   |  6 PagesFor the period of the Middle Ages, Europe went through a great ruin in the duration of the 5th and 15th century. Europe faced great blows from both sides of spectrum. For instance, one of the greatest fatal blows was the Hundred Years War. The war not only caused famine, and starvation all around Europe, but also included around 20 million recorded deaths. About one third of the population was wiped out. Countless towns in Europe had a loss of more than 40% of their population. In fact Paris lostRead MoreSlavery During The American Colonies Essay1537 Words   |  7 Pagesland, they did not intend to do any work themselves so the solution was to import slaves from Africa. And so, in the 1500s, â€Å"slave trading would prove extremely lucrative, becoming part of a larger commerce – referred to as the t riangular trade† (Clark 26). The transatlantic trade (triangle trade) began among Africa, North America, and Europe. Slaves from Africa were imported to North America where they produced raw material such as sugar and molasses which were then exported to Europe to be madeRead MoreThe, Wilson, And Acuna On History And Culture1371 Words   |  6 PagesWilson, and Acuna, express throughout their various stories of the struggles their culture faces and protrude the reality of what is being done to keep what they so desire silenced. Said sincerely speaks upon the merciless lies of American and Europe and how they depict many different cultures are orientals, ever so without understanding their culture that they have to offer. Wilson fears that African Americans are losing their sense of self and their culture has for them and are becoming what theyRead MoreInfluence Of Science And Religion1564 Words   |  7 Pagesto Christianity Mahammad was born Black Plague Printer Press comes to Europe 95 Thesis Visigoths sacked Rome Read MoreNo Ordinary Time By Doris Kearns Goodwin1688 Words   |  7 Pagesequal rights. The book finishes with the death of Franklin Delano Roosevelt’s death in 1945 and the end of World War II. Analysis of the biography shows a theme of how far the Roosevelts would go to get what they wanted, going so far as Franklin threatening to reject his nomination if his choice of vice president was not chosen and Eleanor traveling the country to speak her message of equality. Peer review by the New York Times applauds Goodwin for showing how important the presidency of Franklin Delano

Wednesday, May 6, 2020

South African Economy Free Essays

From the days of Apartheid, to the times of today, South Africa has relied on foreign capital inflow for the purpose of sustaining high levels of growth through investment in the various sectors of the country. This great reliance on foreign investment has made South Africa vulnerable to fluctuations in the exchange rate and other global conditions. This essay will discuss the extent to which South Africa is reliant on foreign capital, reasons why this is so and the nature of these inflows. We will write a custom essay sample on South African Economy or any similar topic only for you Order Now Exchange rate issues will also be discussed, with detail of how South Africa combated these issues in the various years that they arouse. Finally, methods on how South Africa can reduce its vulnerability to such fluctuations will be made apparent. South Africa’s reliance on foreign capital inflow After the end of The Apartheid era and the abolishment of all laws that were associated with the era, the various international sanctions and bands that were put on South Africa were lifted. This allowed numerous countries to begin investing in South Africa. These foreign capital inflows were greatly needed by the South African economy as the new government had the following economic goals: â€Å"Attract foreign capital, reduce the large role of government as government owns half the countries fixed capital assets and facilitate gradual restructuring of industry along globally competitive lines† (Germishuis, 1999: 2). The two latter goals could only be achieved through proper financing for the government. During the 1994 era, domestically raised capital could not be used for the financing of local investment initiatives that promote economic growth. As Mohr (2003: 2) states, â€Å"Between January 1990 and June 1994, there was a steady net outflow of capital not related to reserves of almost R27 billion, partly as a result of repayments of foreign debt emanating from the 1985 debt standstill arrangement†. This effectively meant that South Africa had very little funds available for boosting the investment industry which in turn helps with the sustainability of high levels of economic growth. Due to these foreign debt payments by domestic funds, South Africa heavily relies on foreign capital inflows for high levels of investment. Since the government was obviously aware of this situation, various policies and acts were put into action to attract foreign investment. â€Å"In 1997, South Africa managed to attract a net capital inflow of $3. 58 billion (3. 4 percent of GDP), more than seven times the $478 million invested in 1996. The inflow was predominantly long-term private capital, moving into stock and bond markets†(Germishuim, 1999: 1). Though the government was successful in attracting foreign capital inflows, a decrease in the domestic interest rate is eminent when capital inflows are high. From 1994 to 1999, net capital inflows in South Africa were on a steady rise for 3% of GDP in 1994 to a staggering 6. 5% of GDP in 1999† (Mohamed, 2004: 28). Between 2000 and 2002, capital inflows fell to -2% of GDP. This was due to South Africa currency crisis in 2001 that led to high levels of capital flight in the country. After the new millennium, capital inflows in South Africa began to steadily rise and are now ranging between 4 and 7% of GDP. Exchange rate crisis of 1998 In 1997, East Asia experienced an exchange rate crisis. It is said that these countries were victims of their own success. Their very success led foreign investors to underestimate their underlying economic weaknesses†(IMF, 1998: 1). Because of large capital inflows that these economies enjoyed, there was increased demand for policies that protect the financial sector and institutions struggled to keep up with the demand. Since Asia is probably the largest exporter of goods in the world, a financial crisis in that region will evidently cause a ripple effect that will cause a global financial crisis. This Asia crisis added to what South Africa would have experienced the following year. In 1998, the South African currency dwelled into great depreciation. Causes of this crisis include: * Commodity prices * After the Asian financial crisis, the global demand for commodities had weakened, putting downward pressure on market prices of SA commodities. This meant a flight to safer havens such as United States commodities occurred. * Foreign Exchange Market intervention * In 1998 and 1996 as well, the South African Reserve Bank had heavily intervened in the foreign exchange market. These ventures resulted in net losses of $10 billion (8% GDP) and $14 billion (10% GDP) respectively. The capital for these ventures was acquired in the forward market, thus compromising SARB’s Net Open Forward position. * Mboweni Bump * 1998 saw the end term for the Governor of the Reserve Bank. The potential that Tito Mboweni might have left the position created doubt for South Africa and the Rand. (Saayman, 2007:1) To try and counter this currency depreciation, the Reserve Bank believed that this depreciation was a temporary reaction to rumours of divisions within the government so they sold off massive amount of its foreign reserves (Diamond, Manning, Vasquez and Whitaker, 2003: 2). The Asia crisis, coupled by SA’s own currency issues led the exchange rate crisis. â€Å"The authorities reacted by intervention in reserves and then through raising of interest rates to stimulate growth. The policies implemented in 1998 did not solve the crisis but merely slowed down the process and created a false image. Yes the country did benefit through an increase in investment due to higher interest rates but paid the cost when the country was hit by another exchange rate crisis in 2001. The economy had to deal with the costs of increased debt, decreased capital inflows, which retards growth in the country. Exchange rate crisis of 2001 The Rand depreciated by 26% in nominal terms against the dollar in 2001 between September and December. It is suggested that, â€Å"there was an acceleration in money growth in the summer of 2001, suggesting that the depreciation may have been a case of exchange rate overshooting† (Bhundia and Ricci, 2004: 1). Though this was the case, the South African Reserve Bank did not intervene or raise interest rates this time around (as was the case in 1998). Bhundia and Ricci (2004: 7-11) identify the following as probable cause of the 2001 financial crisis: * Delays in privatising Telkom * The SA government had announced that the privatisation of Telkom will happen in 2001 but this did not happen due to weakening global stock markets. This had a negative effect as it created doubt within the financial market of SA’s commitment to economic reform. * South African Reserve Bank’s Net open forward book * â€Å"The SARB’s forward book contained large short term liabilities. These low reserve adequacies have been found to increase the probability of exchange rate pressure (Bhundia and Ricci ,2004: 7). The forward book received from the Apartheid government was rather large and despite repayments made, the book remained huge. * Tightening of existing capital controls * The South African Reserve Bank announced on the 14th October 2001 that there would be a tightening of exchange rate controls. It was argued that, â€Å"this announcement reduced market liquidity and thereby contributed to the sharp rand depreciation† (Bhundia and Ricci, 2004: 8). Though market data cannot confirm this for sure, these actions and the time they were taken have an effect on the crisis of the time In 2001, the SA government and SARB decided to act differently than it did in 1998. The increase in interest rates of 1998 had limited effects on reducing depreciation and was seen to be costly for growth and investment. South Africa was less likely to be affected by fluctuations in the exchange rate as it did not hold large foreign currency. The South African government decided not to intervene in interest rate percentages and reserve ratios. â€Å"The South African government have admitted that the 1998 intervention policy was inappropriate. When 2001 arrived, the intervention policy of 1998 was not used and that showed to be a very successful strategy as the macroeconomic reactions of the crisis were very few and over the next few years, the rand strengthened†(Bhundia and Ricci , 2004: 17). There was a large improvement in macroeconomic framework (policy), which made policy credibility stronger. The forward book that was utilised in 1998 was also abolished. â€Å"Also, the adoption of an inflation- targeting framework successfully provided a more credible nominal anchor for exchange rate expectations† (Bhundia and Ricci, 2004: 18). So effectively, the policy reactions of 2001 were more successful. Reduction of SA’s vulnerability to external shock SA is the economic powerhouse in Africa and hence needs measures that help reduce the effects of external shocks such as global financial crises. For this reduction to occur, certain conditions such as, â€Å"peace and security, quality institutions, infrastructure and support for the private sector must be in place† (UNECA, 2010: 11). With the above in place, South Africa should try and implement the following: * Provide sufficient policy space, so that policymakers can handle the shocks that are externally generated. * Improve the mobilization of domestic resources and encourage regional integration * Strengthen neighbouring country relations and cooperation * Increase private capital inflows Open new and improve existing markets * Heighten social safety nets that will minimise shocks effect on the poor * Investment in labour-intensive employment-focused public investment programmes that promote private sector growth. * Decrease the amount of debt owed The above mentioned points need to be encoded into policies that can be properly implemented by the government of South Africa and the South African Reserve Bank so as to reduce the vulnerability that SA has when it comes to external shocks. This objective has been achieved by South African economic policies. Monetary policies have been used to contain inflationary pressures and financial policies for the strengthening of public finance that will allow exchange rates that are competitive. In the February of 2000, an inflation targeting strategy was adopted that helped to regulate monetary growth within the economy. These policies have encouraged international competitiveness and assisted in the reduction of the current account deficit of 1999 (0. 4% of GDP), to 0. 3% of GDP in 2000 (IMF, 2001: 1). In 2006, real Gross domestic product grew by 5% and continued to grow into early 2007. During the start of the new millennium, the SARB publically announced that it would have a foreign market intervention policy that was used solely for boosting reserves. This new approach was successful because by 2007 May, gross reserves had reached $27,9 billion (IMF, 2007: 1). This shows that South Africa has been successful economic policies in place: policies that will combat external shock. A United Nations report places South Africa as one of the six oil importing nations that withstood the effects of the global financial crisis of 2008-2009. This was done through implementation of stimulus packages and affective countercyclical fiscal and monetary policies that encouraged expenditure on services and infrastructure (UNECA, 2010, 8). Conclusion The new South African government had to take the mess of the past and turn it into the message of the future. A message that says that anything is possible; all that is needed are the correct tools, used in the correct scenarios. With the various monetary and fiscal policies put into play in South Africa, I have no doubt that we are ready for the next global financial crisis. How to cite South African Economy, Papers

Monday, April 27, 2020

United Nations Research Paper. What Was The United Nations Role As Pea

United Nations Research Paper. What Was The United Nations Role As Peacekeeping Force In The North Korean Conflict TABLE OF CONTENTS INTRODUCTION---------------------------------------------2 The birth of the United Nations BACKGROUND ----------------------------------------------3 The idea of peacekeeping KOREA --------------------------------------------------------4 The Korean War The UN's role in the Korean conflict ? UNTCOK & UNCOK --------------------------------4 ? UNKURK ----------------------------------------------4 ? Military forces in Korea - the final action --------6 Conclusion ---------------------------------------------------7 Bibliography -------------------------------------------------8 -1- Introduction The birth of the United Nations On August 14th, 1941, Franklin Delano Roosevelt, president of the United States and Winston Churchill, prime minister of the United Kingdom proposed a set of principles for international collaboration in maintaining peace and security. The document, signed during a meeting on the ship HMS Prince of Wales, somewhere at sea, is known as the Atlantic Charter. On 1 January 1942, representatives of 26 Allied nations fighting against the Axis Powers met in Washington, D.C. to pledge their support for the Atlantic Charter by signing the Declaration by United Nations. This document contained the first official use of the term United Nations, which was suggested by President Roosevelt. On the 24 October 1945 United Nations is created as its Charter is ratified by the five permanent members of the Security Council and the majority of other signatories, and becomes established as force to guarantee peace keeping. Since its birth in 1945 the United Nations (UN) has been involved in several peace-threatening conflicts. In this research paper I will focus on the United Nation's position in the Korean conflict, and how effective it has been in its role as a peacekeeping force? -2- Background The idea of peace keeping The first purpose of the United Nations enunciated in the Charter is to maintain international peace and security. The term peace-keeping, however, does not appear in that document, and the very concept - non-violent use of military force to preserve peace - differs fundamentally from the enforcement action described in the Charter. The organ to which the Charter assigns primary responsibility for maintaining international peace and security is the Security Council. Implementation of the Charter's relevant provisions relies largely on the unanimous consent of the Council's permanent members - China, France, the Russian Federation (originally Soviet Union), the United Kingdom and the United States. Efficient United Nations-peacekeeping requires: - the full consent and cooperation of all the parties - United Nation peacekeepers must maintain their neutrality - they must have a clear and practicable mandate - Member States must support them with the necessary human and financial resources; and the commitment of the parties to pursue peace. Peacekeeping can only work out and be effective, if (a) the parties to a conflict demonstrate the political will to respect agreements and permit UN personnel to carry out their tasks, and (b) the United Nations can only be as effective as the Member States allow it to be. -3- Korea The Korean War In Korea wartime commitments to postwar cooperation had quickly turned to cold-war hostilities and the partition of a nation straddling the boundary between East and West. In August 1945 the Japanese, who had ruled Korea since 1910, surrendered to U.S. forces in the area south of the 38th parallel. North of that line, they surrendered to the Soviet Red Army. Thus Korea became divided in North Korea (Soviet) and South-Korea (USA)- zones of occupation. The USA and the Soviet Union were deadlocked over fulfilling a plan from their 1945 Moscow accord for a 4-power trusteeship over Korean pending elections. The UN's involvement in the Korean conflict UNTCOK & UNCOK The USA brought the matter to the General Assembly, which, over Soviet objections, set up a series of commissions to foster Korea's transition into independence. In November 1947 the UN established the UN Temporary Commission on Korea (UNTCOK) in order to survey elections. Furthermore they wanted to give aid to elected delegates to set up a government. Due to the refusal of cooperation of the Soviet Union and North Korea the UN had no impact on the North. Only in the South the UN commission could help to open up the electoral process. Although only partially successfully surveyed, the South Korean elections took place in May 1948. Subsequently, the Assembly created the UN commission on Korea (UNCOK) to assist in unifying the country. But the North continued to refuse all cooperation whereas the South Korean refused to accept its UN mandates to interfere in