Sunday, October 13, 2019
Racism in the Chesapeake Area Essays -- Chesapeake Area Racism Racist
Racism in the Chesapeake Area The Chesapeake area in the seventeenth century was a unique community that was almost absent of racism. In this community, at this time, property was the central and primary definition of oneââ¬â¢s place in society. The color of oneââ¬â¢s skin was not a fundamental factor in being a well respected and valued member of the community. Virginiaââ¬â¢s Eastern Shore represented a very small fellowship of people that were not typical of the Southern ideals during this time period and gave free blacks owning property a great deal of respect and merit usually equal to that of any white man around. Racism, as a generalization, was a common and mostly unified way of thinking in the Southern states for a very long time and was in its prime during the seventeenth and eighteenth centuries. The first importation of slaves into Virginia was in late August of 1619 and was only briefly recorded by one colonist, John Rolfe. He recorded them as ââ¬Å"20. and odd Negroesâ⬠and from this the black population slowly grew to about three hundred by the mid-century. One must understand that the attitudes towards the blacks that came to Virginia were not inevitable. This is a very important point to note when understanding how the free blacks came to be they way they were in Northampton, Virginia. It is not specifically known how Anthony Johnson came to own his ââ¬Å"modest estateâ⬠or how he ended up in Northampton. Historians believe that his former master, Rirchard Bennett,...
Saturday, October 12, 2019
Symbolism in Lord of the Flies :: Essays Papers
Symbolism in Lord of the Flies In William Golding's Lord of the Flies, a novel that explores the depths of human nature, plot is irrelevant in comparison to the rich symbolism embedded in nearly all components of the story. The theme of the book is the destructive presence of evil as an influence to mankind, which lies within the breakdown of all order and common sense as a group of british boys stranded on a deserted island evolve into a pack of animalistic savages. The clues to this hidden theme behind the storyline are plentiful, as Golding uses a number of objects to represent certain ideologies and moral values. The first term used in the book that holds much symbolic value throughout the story is the usage of the word "scar" for the stretch of sandy beach that borders the thick jungle on the island. When the plane crashes on the lush island, it disrupts the balance and harmony of nature untouched by man's influence. The twisted wreckage of the plane creates an imperfection in the peacefulness of nature, and leaves the beach a "scar" of what it used to be - beautiful and unharmed by man's destructive impulse. Golding describes the natural surroundings of the island in lush, descriptive detail all throughout the book, beginning with an account of Ralph's proximity : "The shore was fledged with palm trees. These stood or leaned or reclined against the light and their green feathers were a hundred feet up in the air. The ground beneath them was a bank covered with grass, torn everywhere by the upheavals of fallen trees, scattered with decaying coconuts and palm saplings. Behind this was the darkness of the forest proper and the open space of the scar." (9-10) An object which also attains much symoblic relevance as the story unfolds is the conch shell. Delicate, fragile, and white, the conch is what brings the boys together on the first day at the beach. It is used throughout the story as an object of high importance and tradition, as it calls meetings together and determines who has the right to speak, depending on who is holding it at the time. It can be seen as a representation of law and order amongst the boys, as it unites them and prevents chaos from arising.
Friday, October 11, 2019
Does Right to Life Include Right to Die ? Essay
The assignment work bears the imprint of many people, and I express my gratitude to all those who have helped me and rendered their help in all the possible ways in a completion of my assignment.à No work can be successful without the guidance and blessing of elders and this work is no exception. It is a matter of immense pleasure to express my gratitude to my faculty Honââ¬â¢ble Prof. S. K. Gaur for his guidance and excellent insights which gave direction andfocus to this paper. I thank him for lending his precious time in making this assignment anauthentic piece of work. He regularly guided me. I also owe sincere gratitude to the staff at library for always helping in the process of finding material and other sources for research. I am very grateful to my senior Mr. Animesh Kumar and all the individuals involved in the subgroup for their contributions and assistance in compiling this assignment and the recommendations that go with it: they are the outcome of an open, interactive and creative cooperation. I also thank social networking site for searching the required information in precise and as per needed. How I can forget to give credit and my satisfaction to my friends. My institution and family really supported me throughout in my endeavours to which I am honoured to thank. Protection of Life and Personal Liberty ââ¬Å"Article 21 reads as: No person shall be deprived of his life or personal liberty except according to aprocedure established by law. â⬠The phraseology may be negative, but it has conferred an obligation on the state to ensure good quality of life and a dignified life to the people, which is the positive aspect of the article. According to Bhagwati, J. , Article 21 ââ¬Å"embodies a constitutional value of supreme importance in a democratic society. â⬠Iyer, J. , has characterized Article 21 as ââ¬Å"the procedural magna cartaprotective of life and liberty. This right has been held to be the heart of the Constitution, the most organic and progressive provision in our living constitution, the foundation of our laws. Article 21 secures two rights: * Right to life; and * Right to personal liberty. The Article prohibits the deprivation of the above rights except according to aprocedure established by law. Article 21 can only be claimed when a person is deprived of his ââ¬Å"lifeâ⬠or ââ¬Å"personal libertyâ⬠by the ââ¬Å"Stateâ⬠as defined in Article 12. Violation of the right by a private individual is not within the preview of Article 21. Article 21 applies to natural persons. The right is available to every person, citizen or alien. Thus, even a foreigner can claim this right. Right to Life: An Introduction The term ââ¬Å"lifeâ⬠as mentioned in the Article has been given a broad meaning by theSupreme Court. Right to Life does not merely mean the continuance of a personââ¬â¢s animalexistence but a quality of life. In the case of Kharak Singh v. State of Uttar Pradesh, theSupreme Court quoted with approval Field, J. ââ¬â¢s observation in Munn v. Illinois, and held: ââ¬ËBy the term ââ¬Å"lifeâ⬠as here used something more is meant than mere animal existence. The inhibition against its deprivation extends to all those limbs and faculties by which life is enjoyed. The provision equally prohibits the mutilation of the body by amputation of an arm or leg or the pulling out of an eye, or the destruction of any other organ of the body through which the soul communicates with the outer world. ââ¬â¢ In Sunil Batra v. Delhi Administration, the Supreme Court reiterated with theapproval the above observations and held that the ââ¬Å"right to lifeâ⬠included the right to lead a healthy life so as to enjoy all faculties of the human body in their prime conditions. It would even include the right to protection of a personââ¬â¢s tradition, culture, heritage and all that gives meaning to a manââ¬â¢s life. It includes the right to live in peace, to sleep in peace and the right to repose and health. In P. Rathinam v. Union of India, the Supreme Court defined ââ¬Å"Lifeâ⬠as follows:ââ¬Å"the right to live with human dignity and the same does not connote continued drudgery. It takes within its fold some of the fine graces of civilization which makes life worth living and that the expanded concept of life would mean the tradition, culture and heritage of the person concerned. In Olga Tellis, the Supreme Court has emphasized that the term ââ¬Å"lifeâ⬠in Article 21 is not only restricted to mere animal existence of a person. It means something more and ââ¬Å"the inhibition against the deprivation of life extents to all those limits and faculties by which life is enjoyed. â⬠No Right to Die or Commit Suicide Can the right to life be interpreted to such an extent which leads to its self destruction or self opposition? That is, can it include within its ambit the right not to live or the right to die? The wordEuthanasia comes from the Greek ââ¬â ââ¬Å"Euthanatosâ⬠derived from the words ââ¬Ëeuââ¬â¢ meaning good and ââ¬Ëthanatosââ¬â¢meaning death. It is the intentional killing by act or omission of a dependant human being for his or her alleged benefit. Somehow the meaning of Euthanasia is explained in light of suicide while suicide is, many agree, considered as murder except that it is the victim who is the author himself. One of its kinds is assisted suicide which happens when someone provides an individual with the information, guidance, and means to take his or her own life with the intention that they will be used for this purpose. ââ¬Å"The word ââ¬Å"euthanasiaâ⬠is somewhat ambiguous and has several possible meaning. Hence it is appropriate to explain what we mean by the term whenever it is used. For the purpose of this assignment, euthanasia will mean the act of ending the life of a person from compassionate motives, when he is already terminally ill or, when his suffering has become unbearableâ⬠Euthanasia is the intentional premature termination of another personââ¬â¢s life either by direct intervention (active euthanasia) or by withholding life-prolonging measures and resources (passive euthanasia), either at theexpress or implied request of that person (voluntary euthanasia), or in the absence of such approval (non-voluntary euthanasia). Involuntary euthanasia ââ¬â where the individual wishes to go on living ââ¬â is aneuphemism for murder. Passive euthanasia is usually defined as withdrawing medical treatment with a deliberate intention ofcausing the patientââ¬â¢s death. For example, if a patient requires kidney dialysis to survive, not giving dialysisalthough the machine is available, is passive euthanasia. Similarly, if a patient is in coma or on a heart lungmachine, withdrawing of the machine will ordinarily result in passive euthanasia. Similarly not giving lifesaving medicines like antibiotics in certain situations may result in passive euthanasia. Denying food to a person in coma may also amount to passive euthanasia. Euthanasia and Suicide were clearly defined in the case NareshMarotraoSakhre v. Union of India J. Lodha stated- ââ¬Å"Suicide by its very nature is an act of self-killing or self-destruction, an act of terminatingoneââ¬â¢s own act and without the aid or assistance of any other human agency while Euthanasia or mercy killingon the other hand implies the intervention of other human agency to end the life. Mercy killing is therefore notsuicide and an attempt at mercy killing is not covered by the provisions of Section 309. The two concepts areboth factually and legally distinct. Euthanasia or mercy killing is nothing but homicide whatever thecircumstances in which it is performed. â⬠Section 309 of the Indian Penal Code1860, punishes a person convicted of attempting to commit suicide. There had been difference of opinion on the justification of this provision to continue on the Statute Book. The question came for consideration for first time before the High Court of BombayinState of Maharashtra v. MarutiSripatiDubal. In this case the Bombay High Court heldthat the right to life guaranteed under Article 21 includes right to die, and the Honââ¬â¢ble High Court struck down Section 309 of the IPC which provides punishment for attempt to commit suicide by a person as unconstitutional. Further in ChennaJagadeeswar v. State of A. P. , the Andhra Pradesh High Court held that the right to die is not a fundamental right under Art. 21 and hence Section 309 of I. P. C is not unconstitutional. In P. Rathinam v. Union of Indiaa Division Bench of the Supreme Court,supporting the decision of the High Court of Bombay in MarutiSripatiDubal Case, heldthat under Article 21 right to life also include right to die and laid down that section 309 of Indian Penal Court which deals with ââ¬Ëattempt to commit suicide is a penal offenceââ¬â¢ unconstitutional. A five-judge Constitution Bench of the Supreme Court in GianKaur v. State ofPunjab,overruled the decision of the Division Bench in the above stated case and has putan end to the controversy and ruled that Section 309 of IPC was neither violative of Article 21nor Article 14. The court held that the ââ¬Å"right to lifeâ⬠under Article 21 did not include ââ¬Å"the right to die. â⬠As observed by Justice J. S. Verma :ââ¬Å"Any aspect of life which makes it dignified may be read into Article 21 of the Constitution but not that which extinguishes it and is therefore inconsistent with the continued existence of life resulting in effacing the right itselfâ⬠. ââ¬ËRight to lifeââ¬â¢ is a natural right embodied in Art. 21 but suicide is an unnatural termination or extinction of life and, incompatible and inconsistent with the concept of ââ¬Ëright to lifeââ¬â¢. Referring to the protagonists of euthanasiaââ¬â¢s view that existence in persistent vegetative state was not a benefit to the patient of terminal illness being unrelated to the principle of ââ¬Ësanctity of lifeââ¬â¢ or to the ââ¬Ëright to live with dignityââ¬â¢ the Court said that this argument was of no assistance to determine the scope of Article 21 of the Constitution for deciding whether the guarantee of ââ¬Ëright to lifeââ¬â¢ therein includes the ââ¬Ëright to dieââ¬â¢. The Court made it clear that the ââ¬Ëright to lifeââ¬â¢ including the right to live with human dignity would mean the existence of such right upto the end of natural life. This also includes the right to a dignified life upto the point of death including a dignified procedure of death. This may include the right of a dying man to also die with dignity when his life is ebbing out. But the ââ¬Ëright to dieââ¬â¢, with dignity at the end of life is not to be confused with the ââ¬Ëright to dieââ¬â¢ an unnatural death curtailing the natural span of life. The court reiterated that the argument to support the views of permitting termination of life in such cases (dying man who is terminally ill or in a vegetative state) by accelerating the process of natural death when it was certain and imminent was not available to interpret Art. 1 to include therein the right to curtail the natural span of life. ARUNA RAMCHANDRA SHANBAUG v. UNION OF INDIA Recently,Passive euthanasia has been made legal in India. On 7 March 2011 the Supreme Court of India legalised passive euthanasia by means of the withdrawal of life support to patients in a permanent vegetative state. The decision was made as part of the verdict in a case involving ArunaShanbaug, who has been in a vegetative state for 37 years at King Edward Memorial Hospital. Facts: Aruna Ramachandra Shanbaug was a staff Nurse workingin King Edward Memorial Hospital, Parel, Mumbai. On the evening of 27th November, 1973 she was attackedby a sweeper in the hospital who wrapped a dog chain around her neck and yanked her back with it. He triedto rape her but finding that she was menstruating, he sodomized her. To immobilize her during this act hetwisted the chain around her neck. The next day on 28th November, 1973 at 7. 45 a. m. a cleaner found herlying on the floor with blood all over in an unconscious condition. It is alleged that due to strangulation by thedog chain the supply of oxygen to the brain stopped and the brain got damaged. She was bed ridden for past 37 years. The Court rejected active euthanasia by means of lethal injection. In the absence of a law regulating euthanasia in India, the court stated that its decision becomes the law of the land until the Indian parliament enacts a suitable law. Active euthanasia, including the administration of lethal compounds for the purpose of ending life, is still illegal in India, and in most countries. While rejecting Pinki Viraniââ¬â¢s plea for Aruna Shanbaugââ¬â¢s euthanasia, the court laid out guidelines for passive euthanasia. According to these guidelines, passive euthanasia involves the withdrawing of treatment or food that would allow the patient to live. As India had no law about euthanasia, the Supreme Courtââ¬â¢s guidelines are law until and unless Parliament passes legislation. The following guidelines were laid down: 1. A decision has to be taken to discontinue life support either by the parents or the spouse or other close relatives, or in the absence of any of them, such a decision can be taken even by a person or a body of persons acting as a next friend. It can also be taken by the doctors attending the patient. However, the decision should be taken bona fide in the best interest of the patient. 2. Even if a decision is taken by the near relatives or doctors or next friend to withdraw life support, such a decision requires approval from the High Court concerned. 3. When such an application is filed the Chief Justice of the High Court should forthwith constitute a Bench of at least two Judges who should decide to grant approval or not. A committee of three reputed doctors are to be nominated by the Bench who will give report regarding the condition of the patient. Before giving the verdict a notice regarding the report should be given to close relatives and the State. After hearing the parties, the High Court can give its verdict. CONCLUSION Euthanasia, too, is a controversial subject, not only becausethere are many different moral dilemmas associatedwith it, but also in what constitutes its definition. Atthe extreme ends of disagreement, advocates sayeuthanasia, also known as physician aid in dying, orphysician assisted suicide, is a merciful method of death. At the other end are opponents of euthanasia, who mayconsider this method as a form of murder. After the detailstudy of various states legislations and the detail study ofthe cases, still the matteris a question of debate that whether Euthanasia is asuicide or dignified end of life. Many state legalize Euthanasiabut in the high profile state as well as in IndiaEuthanasia is not permitted even after their broaderverdict that right to life means dignified life and this rightto life include dignified end of life too. To provide an ultimate healing touch for the dying, thelogical, the common sense, the compassionate approachfor Euthanasia can be legalized by the interference of lawand legislation for the permissive Euthanasia society. And so far as the misuse is concern it is known that everyboon possesses some curse, even Code of MedicalEthics (Sec. 33 of Indian Medical council Act 1956) mayalso be treated as a safeguard while legalize Euthanasia as a safeguard for the curse. Thus this right to dignified end of life should bebestowed upon the individuals, family, physicians and thesociety at large with necessary dogmatic mechanism. Adecision in time can avoid torment to the dying, canrelease recourses to save other retrievable lives andavert emotional and fiscal agony to the survivors.
Thursday, October 10, 2019
Evidences and Reflections of an Artist
Gianlorenzo Bernini (1598-1610) was more than the greatest sculptor of the Baroque period. He was also an architect, painter, playwright, composer and theater designer. A brilliant wit and caricaturist, he wrote comedies and operas when not carving marbles as easily as clay. More than any other artist, with his public foundations, religious art, and designs for St. Peterââ¬â¢s, he left his mark on the face of Rome (Strickland and Boswell, 1992). ââ¬Å"The Ecstasy of St. Theresaâ⬠and ââ¬Å"Apollo and Daphneâ⬠are evidences of Berniniââ¬â¢s outstanding skills.Berniniââ¬â¢s marble sculpture, ââ¬Å"The Ecstasy of St. Theresaâ⬠, represented the saint swooning on a cloud with an expression of mingled ecstasy and exhaustion on her face. Since the Counter Reformation Church stressed the value of its members reliving Christââ¬â¢s passion, Bernini tried to induce an intense religious experience in worshipers (Strickland and Boswell, 1992). On the other hand, few works in the history of sculpture are more admired for the sheer skill of their carving than Berniniââ¬â¢s ââ¬Å"Apollo and Daphneâ⬠.Bernini began the ââ¬Å"Apollo and ââ¬Å"Daphneâ⬠in 1622 and had largely completed it by 1624, the last year of his employment with Cardinal Scipione Borghese. The ââ¬Å"Apollo and Daphneâ⬠has come to stand as the perfect antithesis to the modernist principle of ââ¬Å"truth to materialsâ⬠, the ultimate illustration of the artist defying his mediumââ¬â¢s very nature (Sofaer, 2007). For both works, Bernini used all the resources of operatic stagecraft, creating a total artistic environment (Strickland and Boswell, 1992). Being able to observe Berniniââ¬â¢s extraordinary skills in art is a truly noteworthy and significant experience.Just watching his works through the video made me feel the ecstasy, the pursuit and the love contained within those works. Somehow, it makes me want to sculpt a masterpiece of my own, reflec ting my own skill and my own knowledge. Michaelangelo Merisi da Caravaggioââ¬â¢s (1571-1610) genius resided in his ability to overlay one principle upon another, to cross aesthetic boundaries seamlessly while seldom calling attention to the means by which he did so. Moreover, even when he was painting the human figure, Caravaggio was a still-life painter at heart.Caravaggioââ¬â¢s ââ¬Å"Basket of Fruitâ⬠has been dated by modern scholars to the years 1593 to 1600, with most placing it closer to the end than the beginning of the first phase of his career. If indeed datable to the moment of his emergence as a public painter in the Contarelli Chapel, the little picture was not one of the realistic depictions of ââ¬Å"flowers and fruitâ⬠. Coming at a critical juncture in his professional career, one can imagine the ââ¬Å"Basket of Fruitâ⬠serving as a polemical expression of his ideas on the nature of creativity itself.In this work, he blended the lowly method of Ligozziââ¬â¢s mimetic and didactic illustrations with higher-minded emulations of ancient literary and visual sources, prompted perhaps by his awareness of the current fashion for Northern still-life painting among collectors like Del Monte himself (Varriano, 2006). In the first Roman years, Caravaggio was isolated. He was rushed to hospital for a malaria attack, as witnessed in the famous self-portrait ââ¬Å"Sick Bacchusâ⬠in the Galleria Borghese (Pomella, 2004). The ââ¬Å"Sick Bacchusâ⬠is a meditation on the theme of ââ¬Å"loveââ¬â¢s stingâ⬠, that is, on the woes of love gone awry.During the Baroque, the awareness of point of view led, for the first time in Western history, to something which can be considered today as self-reflection, a self-consciousness of the human individual (Bal, 1999). Studying ââ¬Å"The Incredulity of Saint Thomasââ¬â¢, also known as ââ¬Å"Doubting Thomasâ⬠, it may come as no surprise to learn that Caravaggio failed to w in the commission to paint a resurrection for the Jesuits. By the time he had completed this painting, Caravaggioââ¬â¢s notion of a ââ¬Å"religiousâ⬠image had already worried Counter-Reformation churchmen.His reputation for painting in a style which has neither sacred, nor profane, but a hybrid of the two, had attracted uneasy commentary among potential ecclesiastical patrons. In this respect, the ââ¬Å"Incredulity of St. Thomasâ⬠might almost be read as gauntlet thrown in the face of counter-reformation orthodoxy. This works is an evidence for Caravaggioââ¬â¢s decision to explore the central mystery of the Christian faith, the incarnation and the resurrection, with what might, tendentiously, be termed an almost Protestant literal-mindedness (Porter, 1997).To be able to understand the personality of Caravaggio through his works, as observed from the video, is an unforgettable occurrence for me. It had shown me that sometimes, there are certain things which artists have to do that defies the society and still, defines them as a whole individual or as a skilled artist. It also made me understand that most of the time, the paintings or artworks do not simply show particular sceneries or another model, but reflects the skills, personality and visions of the creator itself. References Bal, M. (1999). Quoting Caravaggio: Contemporary Art, Preposterous History.Chicago: The University of Chicago Press. Pomella, A. (2004). Caravaggio: Art Courses. ATS Italia Editrice. Porter, R. (1997). Rewriting the Self: Histories from the Renaissance to the Present. New York: Routledge. Sofaer, J. (2007). Material Identities. Australia: Blackwell Publishing Ltd. Strickland, C. and J. Boswell. (1992). The Annotated Mona Lisa: A Crash Course in Art History from Prehistoric to Post-modern. Missouri: Andrews McMeel Publishing. Varriano, J. (2006). Caravaggio: The Art of Realism. Pennsylvania: The Pennsylvania State University Press.
Wednesday, October 9, 2019
Pursa Essay Example | Topics and Well Written Essays - 750 words
Pursa - Essay Example What can explain this drop in voter interest? It just might be that the educated masses of this country, among them the large middle class, are just tired of seeing new faces but no change in policy. Hence they decide that it does not make a difference, and it is better just not to vote. It matters not whether the elected Presidents are Republican or Democrat, they continue making the same noises and go through the same motions, when the truth is that the only needs that are being served are those of the capitalists and the corporations they own. Among the many critiques of democracy as a system of Government are that it just counts the number of votes, and does not weigh them. Thus the vote of a poor illiterate farmer would be equal in importance to that of a college educated graduate (Dahl, 1989, 12). Secondly, the corporations and the capitalists have so ruined the transparency of the system that it does not matter who gets elected to the Presidency, the funding of both participan ts ensures that the interests of the big corporations and their owners are kept uppermost. For all his rhetoric about change, President Obama has not managed to get us out of the financial crisis that has enveloped America due to the sub-prime mortgage fiasco and risk exposures that resulted in the collapse of Lehman Brothers, Merrill Lynch and others. Despite the bailout packages that rescued some banking institutions and the automobile industry in Detroit, the major loss was still to the American public who lost their homes, cars and jobs in an economic downturn that still persists. Unemployment is still at 9 percent in some States and public confidence at an all time low. The real problem lies in the system itself. If bankers can go on robbing the public through first making loans to clients with high default risks, pocketing fees and commissions in the
Tuesday, October 8, 2019
Intellectual Property Law in the U.S Essay Example | Topics and Well Written Essays - 250 words
Intellectual Property Law in the U.S - Essay Example According to the case scenario, Jossup Enterprises created a unique security protection program, which is programmed to check the integrity of downloaded files in a designated system. This company also plans to license the security program to its clients at a fee on a regular basis to each user. Therefore, in order for the company to avoid some of the common legal issues associated with intellectual property law, they should construct licensing contracts. These licensing contracts will substantially help the company in generating greater innovations. The licensing of contracts will also lead to increased profits, which are some of the terms contained in the contract agreement (Landes & Posner, 2003). The cost of production is also reduced significantly but, the cost in terms of contract negotiations is still a discouraging limitation. In conclusion, the United States has an association known as the Intellectual Property Law Corporation of America, which has its headquarters in Virginia. This association deals with the intellectual property law in the United States. Patents, trademark regulations and trade secrets are can also be utilized by Jossup Enterprises due to the commercial value of their security protection program (Landes & Posner,
Monday, October 7, 2019
International Trade & Banking Essay Example | Topics and Well Written Essays - 1000 words
International Trade & Banking - Essay Example According to Mishkin, globalization is essentially about economic integration, which implies the opening up of national economies to the external inflow of goods, services. Contrary to earlier beliefs, globalization is hardly a new phenomenon, dating back to the end of the 19th century and the age of industrialization. ââ¬Å"The globalization system, unlike the Cold War system, is not static, but a dynamic ongoing process: globalization involves integration of markets, nation-states and technologies to a degree never witnessed before ââ¬â in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper and cheaper than ever before, and in a way that is also producing a powerful backlash from those brutalized or left behind by this new systemâ⬠. Yet, even today it is too early to say that globalization has achieved its peak. Central banks are still in their way but far from achieving real financial globalization. The lat ter presupposes having a single global currency and a single global financial authority. According to Way, ââ¬Å"independent central banks produce sharply lower inflation rates where Left cabinets are prevalent but at a cost of increasing unemploymentâ⬠. In the absence of financial stability and global financial homogeneity, central banks acquire a new role of adjusting their decisions and exchange rates policies to the needs of the international financial community, including the issues of currency convertibility.
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