...(Fall, 2007), pp. 13-42 Published by: M.E. Sharpe, Inc. Stable URL: http://www.jstor.org/stable/27746784 . Accessed: 28/08/2013 13:51 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . M.E. Sharpe, Inc. is collaborating with JSTOR to digitize, preserve and extend access to Journal of Post Keynesian Economics. http://www.jstor.org This content downloaded from 140.159.34.46 on Wed, 28 Aug 2013 13:51:45 PM All use subject to JSTOR Terms and Conditions LOUIS-PHILIPPE ROCHON AND MARK SETTERFIELD Interest rates, income distribution, and monetary policy dominance: Post Keynesians and the "fair rate" of interest Abstract: paper In light of the growing interest in "new consensus" models, Post Keynesian alternatives to the Taylor rule. It identifies this two examines distinctive approaches toPost Keynesian interestratepolicy, which we label the activist and theparking-it rules. The first approach advocates theuse of nominal (or real) second has policy an interest or nominal) The interest approach become...
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...of the federalist papers. James Madison was the principle author for article No 10 and article No 51. The immediate purpose for publishing these papers were to obtain support for the ratification of the Constitution, they wanted a diverse republic to prevent faction but with equality to maintain unity among the states. Madison addresses that a large faction will provide better representatives, since the cause of faction has been the unequal distribution of property. Those who have property versus those who don’t, have ever had different interest in society. He saw direct democracy as a danger to individual rights and addressed for a representative democracy to protect individual liberty from majority rule. In federalist No 10 Madison discusses to guard against factions, or groups of citizens, how the passion and interest of one group could mean a danger to the government. In article No 51 the purpose is for four aspects: Layered representation which is the people that are elected directly or indirectly to represent other people, Separation of powers are the three branches that make, and enforce the law; judicial, executive, and legislative branches, Checks and balancing is the ability of each branch to check the powers of the others so the power is balance in all three branches, and Federalism which is the existence of two governments, state and federal and both governments have dominance over different policies and functions. According to Madison article No 51 is, “to form a more...
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...SPE. ● The SPE issues securities (i.e. commercial papers) using these receivables as collaterals. ● The cash received by the SPE from issuing securities will go back to the transferor to pay off the receivables transferred. ● The SPE is served as a “pass through”. ● The transferor can continue to service the loan for a fee. The procedure can be illustrated by a specific example of commercial bank: ● Usually a commercial bank establishes an asset-backed commercial paper (ABCP) conduit. The bank is referred to as the sponsor. ● The originating company sells receivables to the conduit. ● The conduit funds the purchases of the receivables with ABCP issued to institutional investors, usually money market funds. Investors contribute cash to the conduit and receive ABCP in return for investment. ● The originating company receives cash from the conduit. ● The sponsor organizes transaction and provides liquidity and credit enhancement, and in return receives a fee for its services. 2. When an investment bank is used as the sponsor of a SPE for securitization purposes, what are the roles/functions of this investment bank? What returns does the sponsor receive and what risks does it assume? 1) The bank is referred to as the conduit’s sponsor (or administrator) and in exchange for fees it serves two valuable roles. ● First, it provides conduit investors with liquidity: in the event the maturity of the commercial paper does not match the...
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...equal representation or the function of the government because political thinkers such as C. Wright Mills or Robert Dahl wrote and discusses the aspects of who governs, who is represented, and who rules in a democracy like the United States. While C. Wright Mills and Robert Dahl worked off the ideas of one another, they also maintained different ideas in the sense of such subjects. Applied to the current political scene today, their philosophies provide a unique understanding of who governs as well as give their respects to the ideas of the Founding Fathers. What lasting philosophies of these two men provide in context to the state of current events? Author R. Hofsteadter published a book entitled The Founding Fathers: An Age of Realism and the contents of the the publication argued that the Founding Fathers of the United States held a particular view of their fellow man, one in which shaped their thinking and ultimately, the writing of the Constitution. Hofsteadter argues that the Founding Fathers of the country held a rather negative view of their fellow countryman. Such view made an impact of the writing of the Constitution and arguably, the governance and rule of the country. Hofsteadter states that the members of the Constitutional Convention also had a mistrust of democratic rule, perhaps due to the overwhelming sense of power it could give to a large amount of people. The chapter quotes William Livingston who states that “the people have ever been and ever will be unfit...
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...As James Madison wrote in Federalist No. 51, “If men were angels, no government would be necessary.” But men are not angels and governments are necessary to maintain security and to secure rights; therefore, the constitution was created. The Constitution of the United States is the supreme law of the United States of America. It was created on September 17, 1787 and ratified June 21, 1788. The first three articles describe the rules and separate powers of the three branches of government. A legislature: bicameral congress, an executive branch led by the President and a federal judiciary, or judicial branch headed by the Supreme Court. The purpose of the Constitution is to protect the natural rights of life, liberty, and the pursuit of happiness. John Locke had said this in the declaration of independence but was changed in the constitution. The Federalist Papers were written and published in 1787 -- 1788 in several New York State newspapers to persuade New York voters to ratify the constitution. In total, the Federalist Papers consist of 85 essays telling how this new government would operate and why this type of government was the best choice for the United States of America. All of the essays were signed "Publius" and the actual authors of some are under dispute, but the general consensus is that Alexander Hamilton wrote 52, James Madison wrote 28, and John Jay wrote the remaining five. The federalist papers today are a great way for people to understand the United States...
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...and the ability to represent oneself and ideas to the rest in order to keep the democratic process true. As finding a complete unanimity amongst our ideas is a challenging feat, the constitution sought to free the process in which the ideals of common man could enter the greater political arena and influence the discourse of society itself. Though this sort of rule was keen on starting after independence had been gained from Britain it was still incised and reconstructed several times before it could be impassible such that our constitution had completely aligned personal...
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...later called the Constitutional Convention. With trying to fix all these problems, they all agreed on one thing, no tyranny. Tyranny is a cruel and oppressive government or rule. An example of this would be king George. He was not giving the colonists their unalienable rights. The Constitution guarded against tyranny in many ways. These include federalism, separation of powers, checks and balances, and The Great Compromise. The Constitution guarded against tyranny through federalism. Federalism is the federal principle or system of government. James Madison wrote about federalism. He wrote about it because he wanted to get people to ratify the constitution. Doc A is an excerpt from Madison’s Federalist Paper 51. Federalism guarded against tyranny because as Madison put it “Liberty requires that the three great departments should be separate and distinct” (Madison, Federalist Paper #47). The evidence says it all. We MUST have the three departments...
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...HUMAN RIGHTS LAW IMPACT OF GLOBALISATION ON HUMAN RIGHTS TABLE OF CONTENTS Contents INTRODUCTION ..................................................................................................................... 3 RESEARCH METHODOLOGY............................................................................................... 5 CHAPTER 1 GLOBALISATION ............................................................................................. 7 CHAPTER 2 INTERNATIONAL HUMAN RIGHTS LAW ................................................. 10 CHAPTER 3 IMPACT OF GLOBALISATION ON HUMAN RIGHTS............................... 13 Economic Rights .................................................................................................................. 13 Political Rights ..................................................................................................................... 17 CONCLUSION ........................................................................................................................ 21 BIBLIOGRAPHY .................................................................................................................... 23 Articles ................................................................................................................................. 23 Books .................................................................................................................................... 24 Miscellaneous ..........
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...shows the guidelines in which a national government could evolve from a republic to a monarchy or despotism: “Republican government is that in which the people as a body, or only a part of the people, have sovereign power; monarchical government is that in which one alone governs, but by fixed and established law; wheres, in a despotic government, one alone, without law and without rule, draws everything along by his will and his caprices”(Montesquieu, 23). The Anti-Federalists felt the dissolution of strong states’ rights in favor of a strong national government would lead to a British-like tyranny that would infringe on the liberty and rights of the people. One example of how the Articles of Confederation protected the people was the absence of executive and judicial branches, which gave the legislative branch under the Articles of Confederation sole power. To demonstrate this example the legislative branch was controlled by the people, and by giving the legislative branch full power, in effect this idea kept with traditional republican theory of rule by the people. The purpose of the Federalist papers was to promote the view that a strong national government was needed to unify the colonies and improve on all the weaknesses that existed in the Articles of Confederation....
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...Research Paper in CORPORATE LAWS - I AN ANALYSIS OF THE LEGAL REGIME OF COMPANY DEPOSITS Submitted By Sachin Malhan BLIG 757 Table of Contents TABLE OF CASES 3 INTRODUCTION 4 The Coming into Vogue of Company Deposits Thorns in the Side? A Cause for Control RESEARCH METHODOLOGY 6 WHAT CONSTITUTES A COMPANY DEPOSIT 7 What is a Deposit? Constitution of “Public” Loans and Deposits Debentures and Deposits Secured Deposits DEPOSITS EXEMPT FROM THE REGULATORY FRAMEWORK 11 Status of Unclaimed Deposits INVITATION OF DEPOSITS 13 INCORPORATION OF CREDIT-RATING IN DEPOSIT ADVERTISEMENTS CRISIL Ratings 15 FINALISATION OF MATTERS RELATING TO ACCEPTANCE OF DEPOSITS Limits on Amounts Invited for Acceptance 17 The FERA Factor Penalty for Accepting Deposits in Excess of Limits PAYMENT...
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...DISCUSSION PAPER FDI POLICY-RATIONALE AND RELEVANCE OF CAPS Invitation of Views 1. As part of its inclusive approach to the formulation of various policies, this Department has been engaging in prior public consultations on important issues on which policy reform is contemplated. These structured discussions are triggered by the publication of Discussion Papers (DPs) outlining such issues. The Department has, so far, published eight discussion papers, of which five have a direct nexus with FDI policy. Of these five, policy action has been completed in respect of three DPs and is ongoing in respect of two DPs. 2. This is the ninth Discussion Paper in the consultation series. Views and suggestions are specifically invited on Section VIII of the paper entitled ‘Issues for Consideration’ and any related issues by 15th July, 2011. The objective is to examine whether some elements of FDI policy need to be reviewed. It is requested that facts, figures and empirical evidence may be furnished, in the context of the specific observations/suggestions made. 3. The views expressed in this discussion paper should not be construed as the views of the Government of India. The Department hopes to generate informed discussion on the subject, so as to enable the Government to take an appropriate policy decision at the appropriate time. EVOLUTION OF FDI POLICY IN INDIA 4. The evolution of FDI policy in India has broadly...
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...The federal government is separated into three groups because the delegates didn’t want one person or group to have too much power. James Madison wrote in his Federalist Paper #47 that, “The accumulation of all powers, legislative, executive, and judiciary, in the same hands, whether of one, a few, or many, and whether hereditary, self-appointed, or elective, may be justly pronounced the very definition of tyranny.” So, no matter how the person or group is chosen to rule it can become tyranny. In the Constitution Article 1, 2, and 3 state what the different branches can do. If we didn’t have the three branches than any one person could become too powerful and then they would become a...
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...Developing Country Studies ISSN 2224-607X (Paper) ISSN 2225-0565 (Online) Vol 2, No.9, 2012 www.iiste.org Impact of Health and Safety Management on Employee Safety at the Ghana Ports and Harbour Authority Ruby Melody Agbola ⃰ Department of Management, Central University College. P.O. Box 2305, Tema, Ghana * E-mail of the corresponding author: rubyagbola@yahoo.co.uk Abstract The Ghana Ports and Harbour Authority (GPHA) has been plagued with series of fatal accidents and catastrophes claiming the lives of many employees in recent years. The purpose of this study is to examine the Safety and Health Management Systems (SHMS) implemented by the GPHA, assess the effectiveness of these measures in reducing accidents and death; and evaluate the impact of accidents and work-related illnesses on the employee safety at work. The results reveal an organisation fraught with poor health and safety management practices, poor training in safety know-how, lack of information on dangerous chemicals and hazardous materials, lack of monitoring and enforcement of safety rules, unavailability of essential safety equipments, with adverse effects on employees and the organisational performance. GPHA must increase education and create awareness of the importance of health and safety, ensure collection and storage of data for effective monitoring and evaluation of safety performance. Keywords: Ghana, Ports, Harbour, Safety, Health 1. Introduction The health and safety (H&S) of employees is a very significant...
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...However, due to inter-temporal medieval relationships with Korea and China, the spread of Confucianism blended the Buddhist culture, and the two philosophies became dominant in the early Japan under Prince Shôtoku rule. By 728, Emperor Shômu under his rule had built six Buddha schools three of them in Mahayana and the other three in Theravada. Hangemann also in his narration finds that the initial Japanese religion was called Shinto or kami-no-michi, an indigenous belief that is found in the Japanese mythology that involved the worship of many gods (Hangemann 36). Besides, this doctrine is practiced in an extremely traditional manner that leads to people's’ assumption of a possible traditional norm than a religion. Moreover, the practices included sacrifices and offerings that constituted the ancient culture in the Japanese society. Different scholars have also found out through primary documents gathered from the Japanese history journal that indeed, kami-no-michi was the...
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...future that didn’t have tyranny so in 1787 they had a Constitution convention and in the end, they had made a constitution which hopefully would prevent tyranny. Now what is Tyranny? Tyranny is when one person rules over everyone, like home. The Constitution guards us against by Big states and small states the same say in Senate, separation of power, Federalism and checks and Balances. Giving equality to the big states and small states helps prevents tyranny. I infer this from Article 1, section 2, House of representatives...
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