Sunday, May 24, 2020

Robert Jackson Case Study - 769 Words

WASHINGTON — A U.S. House of Representatives committee hearing became heated at times Wednesday as lawmakers continue to press for information regarding pill dumping in West Virginia, leading the committee chair to mention the use of a subpoena as one possibility for getting requested documents. The leadership of the House Committee on Energy and Commerce, as well as Reps. David McKinley of West Virginia and Diana DeGette and Colorado, said in an Oct. 13 letter to Acting Drug Enforcement Administration Administrator Robert Patterson they would like data regarding trends seen in the shipment of opioids into West Virginia. The sought information includes the suppliers of the opioids and the total amount of hydrocodone and oxycodone†¦show more content†¦Enough is enough. Will you on behalf of the DEA commit today to producing the documents and information weve requested and soon? Or do I simply have to issue a subpoena? Because we are done waiting, Walden said. Doherty said the DEA is treating the opioid epidemic with the utmost importance, and the DEA will make efforts to assure outstanding requests are met. Committee Vice Chairman Joe Barton, R-Texas, told Doherty requests are supposed to be answered. If I were you, I would go back, get the answers in plain English as quickly as possible, he said. If you dont — and I know youre just a spear carrier, not the decision maker at your agency — I am going to recommend to the chairman that we bring the wrath of this committee down on DEA. Committee Ranking Member Frank Pallone, D-N.J., said the committees bipartisan investigation cannot continue without cooperation from the DEA. I hope moving forward they can help us determine what systems failed in West Virginia and what needs to be done to make sure other communities are protected from such abusive practices, he said. McKinley, who represents the 1st Congressional District as a Republican, pressed federal agency representatives about how much money the state is receiving for combating drug addiction, noting how communities have been unable to receive federal resources in recent years. You all stood up, sat there and said how you are dedicated toShow MoreRelatedStonewall Jackson And The American Civil War1166 Words   |  5 Pages and rest under the shade of the trees.†1 These were some of Stonewall Jackson’s Final words. Jackson was one of the most charismatic and influential Generals to have ever participated in the American Civil War. It was his work ethic, morality, and immense military expertise that gained him his infamous recognition and respect. Just a small overview of his life will clearly explain how Stonewall Jackson earned his merit as being one of the most outstanding Civil War generals that this country hasRead More Andrew Jackson Essay1491 Words   |  6 PagesThere are many things that set Andrew Jackson apart from other presidents. His policies and personality set him apart from most. Although he was the seventh president, he was the first in many ways. Jackson was the first president to be born in a log cabin, and he was the first president to ride on a railroad train. Along with that, he was the only president to serve in both the Revolutionary War and the War of 1812. nbsp;nbsp;nbsp;nbsp;nbsp;Andrew Jackson was also the first to have a vice-presidentRead MoreLeaders in the States Rights Debate1727 Words   |  7 PagesRepresentative until 1817. From there he served as Secretary of War for President Monroe until 1825. Things heated up in the early 1830s over federal tariffs: Calhoun said that states could veto federal laws, earning him the nickname of Arch Nullifier, and Jackson threatened to use the army if South Carolina forced the issue. Calhoun than resigned as Jackson’s vice president, this was in 1832. He than became a U.S. senator, then briefly served as Secretary of State under President Tyler from 1844-1849. FinallyRead MoreEssay about Andrew Jackson1115 Words   |  5 Pages Andrew Jackson nbsp;nbsp;nbsp;nbsp;nbsp;Andrew Jackson (1767-1845) was the seventh president of the United States (1829-1837). He made his way to wealth in a frontier society and leadership. All of the common people liked him and he established a bond with them. All of the common people looked to him for leadership when they were struggling. To them he was a good role model. nbsp;nbsp;nbsp;nbsp;nbsp;Andrew Jackson was born on March 5,1767 in south Carolina. When Jacksons father died theyRead MoreSymbolism in A Worn Path by Eudora Welty1106 Words   |  5 Pagesto something. Symbolism is a literary technique that adds meaning to a story by using an event or object as a symbol to represent something else. Phoenix Jackson represents the most important thing in the story the ancient Egyptian bird the Phoenix. The story â€Å"A Worn Path† takes place in December 1941. It’s about an old lady named Phoenix Jackson that goes to town in Natchez, Mississippi to get some medicine for her grandson who had swallowed lye many years back. Phoenix faces some obstacles on herRead MoreEnvironmental History Of The Oceans And Seas1692 Words   |  7 PagesNorth American Pacific, North Atlantic, and Mediterranean, Human Impacts examines archeological and historical ecological data and case studies from â€Å"around the world to summarize the history of human coastal occupation, environmental change, and human impacts in their area.† Similarly, in Historical Overfishing and the Recent Collapse of Coastal Ecosystems, Jeremy Jackson et al. highlights through paleoecological, archeological, and historical data that aboriginals extensively fished coastal ecosystemsRead More The Effects of Sport on Levels of Mindfulness and Experiences of Flow: A Comparison of Contact, Non-contact and Team, Non-team Activities1695 Words   |  7 Pageswith problematic situations (Linehan, 1993). In addition to this, research revealed that those who undergo mindfulness training also experience improved ability to sustain attention in the present moment (Marks, 2008). From a similar stance, recent studies carried out by sport psychologists provided an indication towards a relationship between aspects of mindfulness and sporting performance, in which theories of ‘flow’ and ‘peak performance’ were evidently compatible with the constructs of mindfulnessRead MoreEssay on Texaco Case Study998 Words   |  4 Pagessensitive internal documents pertaining to the discrimination court case. Discrimination throughout Texaco was a big problem. Texacos problems were not just with the lower-level employees, but also with the other levels of management. Comments from Caucasian managers were I never thought Id see the day when a black woman had an office at Texaco (Trevino, 2004). Being called uppity and a smart-mouthed little colored girl (Roberts, 1996) were only some of the comments made by the Caucasian employeesRead MoreHow Do People View The Health Care System? Essay1251 Words   |  6 Pagescollectively by society rather than individual areas. To address her intended purpose, Abraham approached her subject through ethnography. By following the Banes family over the years and interviewing them as well as their providers, she constructs her case study meticulously from what is known during her observation. A compilation of these interviews and notes over time enables a less subjective perspective from Abraham by presenting facts instead of her interpretations. Leaning more towards objectivityRead MorePunishment Versus Rehabilitation1513 Words   |  7 PagesAccording to Logan, and Gaes (1993), â€Å"Meta-analysis is the study of other studies, and in this case, the studies test the effectiveness of various programs of correctional treatment. Advocates of rehabilitation believe that meta-analysis can be used to supply deposits of prior research, to reveal hidden veins of effective treatment not necessarily revealed by individual studies† (para.2). According to Logan, and Gaes (1993), â€Å"Each study is coded on a number of variables such as characteristics of

Wednesday, May 13, 2020

One Social Issue That Has Not Gotten Much Attention Until

One social issue that has not gotten much attention until the past few years is mental illness. Playwrights recently started creating works that feature characters with mental illnesses. One such play is The Curious Incident of the Dog in the Nighttime by Simon Stephen, based on the book of the same name by Mark Haddon. This story follows an autistic boy named Christopher and his investigation to not only figure out who killed the neighbor’s dog but also understand his family. During the play, it is mentioned that Christopher wrote a book, which is what the play is staged as. The audience gets to hear, see, and experience the world through the eyes of an autistic child, something that is hard to imagine. This play has been getting a lot of†¦show more content†¦In David Storey’s play Home, the story follows two men and their two female friends in their daily life in a mental institution (Theatre Alberta Library). These plays plus many others are taking the dram a community by storm and advocating for mental illness awareness along the way. Although one will never be able to fully understand the inner workings of a person with autism or down syndrome, it is important for one to learn how to interact with a mentally ill person. Plays on mental illness greatly reduce the stigma held by society. Each time one sees a play that includes a learning disabled character, one comes to be more acclimated with mental illness, which makes the illness become a part of the social norm (Brigg, 26). Rosemarie Garland-Thomson, Professor of English at Emory University, says, â€Å"To behave toward unknown others effectively and ethically, we need to gather information about them. We use their appearance as clues to who they are and we relate to them. What you look like, rather than who you are, often determines how people respond to you† (34). She proposed that staring is a social and cultural behavior brought about by a quest to know more about others and since theatre is a safe place to stare it provides the perfect opportunity f or one to learn about those different from oneself (34). These plays also allow the audience to build empathy for the mentally ill (Cummings), but the production itself must perform it in an enriching way.Show MoreRelatedWoodrow Wilson s Progressive Era1159 Words   |  5 Pagesfollowing of the Progressive Era. The Progressive Era was a period of widespread social activism and political reform that spread across the United States, and was in a response to problems that arose from immigration, industrialization, urbanization, and governmental corruption. Following the Presidential Election in 1912, this set of progressive ideologies was most sought after in a presidential candidate. This is one of the main reasons why Woodrow Wilson had won. Although many other candidatesRead MoreHow Media Affects Our Opinions On Gender And Gender946 Words   |  4 PagesAs far as advocacy goes, there is such a wide variety of topics that one can support and promote and many are dear to my heart, h owever when choosing a topic we felt would relate to the majority of college students, our target audience, uber specific topics would not reach this goal. While not all college students have similar opinions and backgrounds, one thing nearly all people our age gave in common is their use of social media and their exposure to advertisements of all kind. Most young adultsRead MoreWord Without Cell Phones860 Words   |  4 PagesA Non-Cellular World In today s modern world, there is a great buzz around the latest and greatest in technology. One such massively important gadget, is the cellular telephone. In the last decade or so, cell phones have gotten smaller and smaller, as well as larger in popularity. It is difficult to go anywhere without seeing a person on a cell phone, or using a cell phone in some fashion. Contrary to popular belief, cell phones are not a god-send in my opinion, and looking at the facts, theRead MoreThe Memories and Influences of Jane Eyre879 Words   |  4 Pagesacross so many influential and memorable people. Jane Eyre was one individual whose life has been influenced and developed based on numerous people and surroundings. Jane’s living situation was unfortunately made up for her when her parents died, which caused her to not live the life she was meant to live. This tragedy has shaped Jane in becoming whom she is due to her positive and negative experiences growing up. Growing up in Gateshead has had a detrimental effect on who Jane was becoming. LivingRead MoreEssay Problems in the Educational System for Boys1559 Words   |  7 Pagesthe past decade there has been a decline of boy graduating from high school. In fact by 2004, 54% of the youth dropping out of high school were boys. 23% in 2005 were Hispanic, 11% were African Americans and 6 % White (Services, 2008). A decline of boys entering college; of those that do enter college they drop out or it takes them longer to finish. Questions have arisen to what is going on, why this is happening and ideas on how to fix the problems. It is suggested that one of the reasons thatRead MoreIncreasing Violence Amongst Youth1420 Words   |  6 Pagesfurious and often destructive action or exertion of (physical) force so as to injure or abuse. There is a growing perception that there is a steady rise in violence amongst todays youth, and with this increased attention, comes many sources of blame fo r their actions, however, all but one are simply excuses. There is a lack of hard evidence to support the supposed increase in youth violence ( .) Since violence is subject to interpretation, it is a hard thing to measure. AlthoughRead MoreAttention Deficit / Hyperactive Disorder1071 Words   |  5 Pages Attention-Deficit/Hyperactive Disorder, ADHD, has become a topic of debate amongst psychologist, and doctors throughout the years. Withstanding its questionable beginnings and maintaining its place in the DSM-V, ADHD has become one of the most commonly diagnosed disorders in children today. ADHD is believed to have first been mentioned as a disorder in children during the early 1900’s. It had been described as an â€Å"abnormal defect of moral control†, a problem with the child’s ability to controlRead MoreArticle Analysis : Killing Us Softly1423 Words   |  6 Pagesand the world around them. Kilbourne describes how current advertisements present one type of women; tall, Caucasian, and almost always very skinny. This portrayal of beauty in media and in the fashion industry has set unrealistic expectations for young woman all throughout the country, and has consequently lead to widespread body image dissatisfaction. Furthermore, the objectification of women in these ads has had profound effects on increasing violence against women. I found the informationRead MoreChaos Of Los Angeles Riots / Civil Disturbance1482 Words   |  6 Pagestake the time to do a more in-depth review/research of the subject, they will find that although this verdict may have triggered the rioting, there were actually multiple issues that contributed to the rioting. Dr. Eisold comments in his article Understanding Why People Riot, â€Å"riots usually break out after a serious incident has occurred, often after the commission of an injustice, or a perceived injustice, on the part of the authorities.† Some may interpret this as Eisold believing injustice orRead MoreHow Technology Has Changed Our Lives Today?1368 Words   |  6 PagesTechnology has become a major factor in people’s lives today. People are extremely hyper connected; they simply cannot leave their phones or even go a couple minutes without checking their cellphones. Think of when you were little and your mom made dinner or when you went out to eat with your family, was everyone on their phones or did you have a nice genuine conversation. Most likely you had a deep and meaningful conversation about how each other’s day went, what they learned at school, or how

Wednesday, May 6, 2020

Prohibiting Smoking in Public Places Free Essays

Secondhand smoke is especially dangerous—much more to children who are directly exposed to the smoke. Canada should implement a no-smoking policy, not just inside cars,but in all public places where there is an threat of secondhand smoke. It is a fact that secondhand smoke is more toxic than smoke directly inhaled by smokers. We will write a custom essay sample on Prohibiting Smoking in Public Places or any similar topic only for you Order Now It is known to cause cancer and there is no safe level of exposure to secondhand smoke. It takes at least three hours for cigarette smoke to clear in an average-sized room. Hazardous components of the smoke can remain present much longer (Office of Tobacco Use Prevention). Although â€Å"the simplest, least expensive and most effective solution against secondhand smoke is not smoking in any enclosed indoor area† (Office of Tobacco Use Prevention), Canada should legislate laws that would ban smoking in public places to reduce deaths related to tobacco use and second hand smoke just like what many other countries have already been doing. Eliminating smoking is the only way to effectively reduce the harmful effects associated with cigarette smoke. Ventilation could prove to be an effective way of eliminating secondhand smoke indoors if the exhausted air leads outside but it not effective in eliminating its harmful components. Parents should be responsible enough to keep their children away from the harmful effects of secondhand smoke. As a sign of respect, smokers should get out of the room when other people will be exposed to the smoke that he/she will exhale. This in turn also limits the number of people that will be exposed to secondhand smoke. Because secondhand smoke is much more harmful than the smoke inhaled, the government should consider legislating laws that would prohibit smoking in public places because this already proved effective for other countries. How to cite Prohibiting Smoking in Public Places, Papers

Tuesday, May 5, 2020

California SB 1386 Essay Example For Students

California SB 1386 Essay On July 1, 2003, California enacted an electronic data privacy law to protect residents from one of its fastest growing crimes: identity theft. SB 1386 (Civil Code 1798.29) requires businesses to notify California residents if a security breach results in disclosure of personal electronic data. All businesses are subject to this law regardless of size, location, or operations. Business owners should be aware of the problems associated with identity theft, the steps required to comply with SB 1386, and the preventative measures available. Identity theft is a significant problem to both citizens and financial institutions. The FTC estimates that over 27.3 million Americans have been the victims of identity theft in the past five years. The U.S. financial impact is staggering; in 2002 alone, losses were estimated at $48 billion to financial institutions and $5 billion to victims. The FTC reviewed trends from 214,905 cases reported in 2003, and California accounted for the highest number of incidents (39,452). In 20% of all cases, the source of the information breach involved disclosure of personal data over the internet or other electronic sources. In 55% of all cases, the identity theft resulted in credit card, bank, or loan fraud. Federal and state laws address this growing problem. The FTC provides some protection by aggressively enforcing existing federal laws. Under the unfair and deceptive trade practices law, a website operator must adhere to the companys own privacy policy or face prosecution for failing to exercise a reasonable standard of care. Reasonable care includes addressing potential system vulnerabilities such as viruses and encrypting personal information so that it cannot be viewed. The FTC recently ordered several large corporations to implement stronger privacy controls after breaches exposed personal information. In January of 2001, Eli Lilly settled with the FTC after accidentally releasing the e-mail addresses of nearly 700 consumers who were using the companys anti-depressant Prozac. Seven months later, Microsoft was targeted by the FTC for misrepresenting the security of its Passport Wallet web service. More recently, in April of 2004, Tower Records faced allegations for allowing and failing to correct a breach that disclosed consumer information including names, billing and shipping addresses, email addresses, phone numbers, and purchase histories. Under the separate settlement agreements, the three companies were barred from misrepresenting website security and required to implement rigorous programs to prevent future incidents. Californias SB 1386 takes the FTCs efforts one step further by requiring companies to notify California residents when a security lapse has resulted in disclosure of personal information so that immediate action may be taken to mitigate damages. In 2002, the California state employee payroll database was breached. Confidential information about 265,000 employees was available to hackers including names, addresses, bank account numbers, and social security numbers. The data center didnt notify anyone for several weeks, leaving the employees vulnerable to identity theft longer than necessary. In response, SB 1386 was enacted as a means to ensure that Californians receive prompt notification so they may take immediate steps to protect their personal information. SB 1386 applies to any business that stores unencrypted personal information of an employee or customer that resides in California. According to the law, personal information means an individuals name in combination with any one or more of the following elements:1.Social security number2.Drivers License number of California Identification Card number3.Account number, Credit or debit card number, in combination with any required security code, access code, or password that would permit access to an individuals financial account. Any unauthorized access of a computer and its data constitutes a breach. Notification must be provided even if confidential personal information was not stolen due to the difficulties of proving that all data remained secure. Any breach discovered on or after July 1, 2003 falls within the scope of SB 1386, and the law requires notification in the most expedient manner and without unreasonable delay. Legal notification can be conducted by direct mail, e-mail, posting on the companys public website, or notification to major statewide media. Compliance with SB 1386 and litigation could be costly. To date, there have been no lawsuits, however Wells Fargo recently spent millions of dollars to comply with the new law. .uc819e565fc56871cc8ce3517adb0965b , .uc819e565fc56871cc8ce3517adb0965b .postImageUrl , .uc819e565fc56871cc8ce3517adb0965b .centered-text-area { min-height: 80px; position: relative; } .uc819e565fc56871cc8ce3517adb0965b , .uc819e565fc56871cc8ce3517adb0965b:hover , .uc819e565fc56871cc8ce3517adb0965b:visited , .uc819e565fc56871cc8ce3517adb0965b:active { border:0!important; } .uc819e565fc56871cc8ce3517adb0965b .clearfix:after { content: ""; display: table; clear: both; } .uc819e565fc56871cc8ce3517adb0965b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc819e565fc56871cc8ce3517adb0965b:active , .uc819e565fc56871cc8ce3517adb0965b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc819e565fc56871cc8ce3517adb0965b .centered-text-area { width: 100%; position: relative ; } .uc819e565fc56871cc8ce3517adb0965b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc819e565fc56871cc8ce3517adb0965b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc819e565fc56871cc8ce3517adb0965b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(; position: absolute; right: 0; top: 0; } .uc819e565fc56871cc8ce3517adb0965b:hover .ctaButton { background-color: #34495E!important; } .uc819e565fc56871cc8ce3517adb0965b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc819e565fc56871cc8ce3517adb0965b .uc819e565fc56871cc8ce3517adb0965b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc819e565fc56871cc8ce3517adb0965b:after { content: ""; display: block; clear: both; } READ: Major Tasks Of Quantity Surveyor Construction EssayIn 2003, Wells Fargo hired a consulting firm to perform some work and turned over a database that contained names and social security numbers of 200,000 consumers that had secured loans from Wells Fargo. A petty thief stole the laptop containing the database from the consultants office. When the theft was discovered, Wells Fargo took steps to comply with SB 1386 and sent letters to all 200,000 customers, not just those residing in California. A follow up call was placed to each customer to ensure that the correspondence had been received. Account numbers were changed, and customers were encouraged to contact credit reporti ng agencies and monitor their credit. Wells Fargo also offered to purchase Privacy Guard service for each customer. Privacy Guard service costs approximately $75 per person and provides notification of activity on credit reports. Even though the laptop was recovered and it was determined that the information had not been used, compliance with SB 1386 was costly due to the number of individuals affected. Businesses can implement preventative measures to help reduce the costs and loss of good will that can result from such a breach of security. Companies that electronically store personal information should have a formal written security policy that addresses data security. An effective plan addresses the size of the organization, the existing computing infrastructure, the types of activities conducted over the internet, and the amount the company is willing to spend on security features to mitigate problems. Security features include firewalls, secure socket layer encryption (encryption at the starting and end points), and intrusion detection systems. The plan should outline notification procedures and allow for the investigation and documentation of all breaches. Implementation of a formal written security policy will ensure compliance with SB 1386. Identity theft is a growing concern due to the enormous financial consequences. SB 1386 outlines a companys responsibilities for securing private information. Businesses have a moral and legal obligation to provide a high level of security and disclose breaches so action can be taken. Adherence to SB 1386 will reduce the damages of identity theft and protect companies from litigation and loss of good will. ReferencesFTC Press Releases and Reports:Identity Theft Victim Complaint Data, Figures and Trends in California, January 1 December 31, 2003. 18, 2002, Eli Lilly Settles FTC Charges Concerning Security Breach. 8, 2002, Microsoft Settles FTC Charges Alleging False Security and Privacy Promises. 21, 2004, Tower Records Settles FTC Charges. A. Falvey, Disclosure of Security Breaches Required by New California Privacy Legislation. Security, Facts on Identity Theft. West, California SB 1386 Personal Information: Privacy., Inc., Californias SB 1386 Frequently Asked Questions. SB 1386

Thursday, April 2, 2020

A Guide to Ghost Month in China

A Guide to Ghost Month in China The 7th lunar month in the traditional Chinese calendar is called Ghost Month. It is said that on the first day of the month, the Gates of Hell are sprung open to allow ghosts and spirits access to the world of the living. The spirits spend the month visiting their families, feasting, and looking for victims.  There are three important days during Ghost Month, which this article will delve into. Honoring the Dead On the first day of the month, ancestors are honored with offerings of food, incense, and ghost money- paper money which is burned so the spirits can use it. These offerings are done at makeshift altars set up on sidewalks outside the house. Almost as important as honoring your ancestors, offerings to ghosts without families must be made so that they will not cause you any harm. Ghost month is the most dangerous time of the year, and malevolent spirits are on the lookout to capture souls. This makes ghost month a bad time to do activities such as evening strolls, traveling, moving house, or starting a new business. Many people avoid swimming during ghost month since there are many spirits in the water which can try to drown you. Ghost Festival The 15th day of the month is Ghost Festival, sometimes called Hungry Ghost Festival. The Mandarin Chinese name of this festival is ä ¸ ­Ã¥â€¦Æ'ç ¯â‚¬ (traditional form), or ä ¸ ­Ã¥â€¦Æ'节 (simplified form), which is pronounced zhÃ… ng yun jià ©. This is the day when the spirits are in high gear. It’s important to give them a sumptuous feast, to please them and to bring luck to the family. Taoists and Buddhists perform ceremonies on this day to ease the sufferings of the deceased. Closing Gates The last day of the month is when the Gates of Hell close  up again. The chants of Taoist priests inform the spirits that it’s time to return, and as they are confined once again to the underworld, they let out an unearthly wail of lament. Vocabulary for Ghost Month If you happen to be in China during Ghost Month, it could be fun to learn these vocabulary words! While terms like ghost money or ghost month are only applicable to Ghost Month, other words like feast or offerings can be used in casual conversation. English Pinyin Traditional Characters Simplified Characters altar shn tn ghost gu vampire jing sh ghost money zh qin incense xing ghost month gu yu feast gng pn offerings j bi

Sunday, March 8, 2020

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Thursday, February 20, 2020

Exchange Rate Regimes Essay Example | Topics and Well Written Essays - 2250 words

Exchange Rate Regimes - Essay Example The impact of the inherent volatility and unpredictability of exchange rates on macroeconomic conditions is central to the debate about fixed and flexible exchange rates. Real exchange rates are defined as nominal rates adjusted for price levels. Since prices for individual countries, when expressed in a common currency, are subject to the variability of exchange rates, bilateral real exchange rates based on individual-country price levels may be infected with measurement errors. The use of one reference country, such as the USA, gives rise to asymmetries. By definition, the exchange rate is a relative price of two assets and, like other asset prices, is determined in a forward-looking manner in which expectations concerning the future course of events play a key role. Consequently, exchange rates are very sensitive to the receipt of new information. The large and sustained changes in nominal and real exchange rates were among the most significant developments in the world economy in the 1980s. For example, in the first half of the decade, the US dollar appreciated by about 40 per cent against most other major currencies and then, in the second half of the decade, declined, reversing all the previous appreciation. These changes gave rise to international pressures associated with rapidly changing competitiveness of exports; intervention by central banks in foreign exchange markets; and intense debate regarding the extent to which these exchange rate changes interact with current account imbalances. Some economists feel that conventional measures of economic growth based on the output of goods and services (gross national product) do not satisfactorily reflect economic welfare, arguing that they ignore factors such as pollution and the negative externalities from congestion.