Minority Groups Ethnic Minorities - 890 Words

In a world where society is mostly driven by our faults, family can be a relative term that brings it all back down to earth. Since societies can be extremely divided at times, it is important to have a back bone and a community that understand your own values, customs, and practices. It has been said that â€Å"minority group† families, which in Canada or the United States, could be considered anyone who isn’t Caucasian, are less stable in form and function than families who are a part of the general societal â€Å"majority†. Throughout this essay, I would like to discuss how untrue this statement is. From racial and cultural differences, to relying on each other and to growing as a unit, it is evident that minorities can have an even stronger†¦show more content†¦Different cultures and practices require acceptance from each dominating ethnic groups, and this can be incredibly difficult to achieve. Growing up in the 90’s or earlier, it was partic ularly difficult to find classmates, or even friends who shared the same values as you. As time goes on, society opens up to various practices and accepts the fact that not everyone is the same. This leads to relying and confiding in those who are of the same minority groups. Since it can be difficult to meet people who are in the same ethnic minority, it forms a bond and sense of reliance on one another. These families have no one but each other, which proves that their relationship will be stronger, because their loyalty lies with each other. A Muslim family that must pray 5 times a day for religious purposes will feel more accepted and understood with those of their own religious group. In elementary school, I was the only Muslim until Grade 6. I did not learn to pray or share my values with anyone because no one would understand or even accommodate my needs. When the Muslim community began to expand, I noticed prayer groups being formed and students had a quiet area to meet their religious needs. I wonder how different I would be if thereShow MoreRelatedA Long History Of Unequal Treatment Among Ethnic Minority Groups Essay1872 Words   |  8 PagesIntroduction In the United States, there is a long history of unequal treatment among ethnic minority groups, particularly for African Americans. Unfortunately, this injustice also appears in education. Sociologists have affirmed the importance of education in shaping the economic and social prospects of individuals. As all communities in the United States have been diversified, it becomes crucial to recognize and properly deal with diversity within the classroom. All studnets should be guaranteedRead MorePatterns of Social and Ethnic Residential Segregation Among Social Groups Ethnic Minorities1001 Words   |  5 PagesPATTERNS OF SOCIAL AND ETHNIC RESIDENTIAL SEGREGATION AMONG SOCIAL GROUPS ETHNIC MINORITIES Residential segregation can be explained as special appearance of social inequality, unequal distribution of social, ethnic, etc. groups. The spatial objective reflection of the complicated system of social relation can interpret the socio-economic structure of the city, and the allocation of different social groups. Appears in space in segregation curve where higher and lower social classes are much differentRead MoreLiving in a multicultural society takes time1547 Words   |  7 Pages‘Living in a multicultural society takes time.’ To what extend is this illustrated by the challenge of multicultural societies in the UK? (40) A multicultural society is the status of several different ethnic, racial, religious or cultural groups coexisting in harmony in the same society. From the early 19th century people have immigrated to England, developing its diversity. During World War 2 polish and Jewish people immigrated to the UK to escape fascism. Also as the UK is part of the EuropeanRead MoreEssay about Changes in China’s Ethnic Minorities1275 Words   |  6 PagesChina is a Han-dominant multi-ethnic, multi-lingual, and multi-cultural nation. China’s present government recognizes 56 official ethnic groups. Han is the majority group. The rest of the 55 are minorities, which are eligible for special policies such as subsidies for certain food, special consideration in national college entrance exams, and much more lenient birth control policies. According to the latest state census in 2010, 91.51% of the population was of the Han nationality, down slightlyRead MoreIn what ways does ones race/ethnicity shape ones life-chances in contemporary society?1710 Words   |  7 Pageswe are and where we come from. What race or ethnic group we belong to determines our life chances in contemporary society. Ethnicity is the cultural background of a group of people who share a belief in common ancestry. According to Max Weber, ethnic groups are formed by colonisation and immigration. Ethnicity is something we all have but in Australia and in many parts of the world, ethnicity is often applied on minority groups to highlight dominant groups of people on the bases of physical appearanceRead MoreHealth Disparities And Health Care For Minorities917 Words   |  4 Pagesin medicine leads to worse care for minorities is an article from U.S News world report on the website http://health.usnews.com/health-news/patient-advice/articles/2016-02-1 1/racial-bias-in-medicine-leads-to-worse-care-for-minorities. In this article, the experience of a medical doctor is used to shed light on the subject of racial bias/ discrimination in health care and how it is affecting health outcome of racial and ethnic minority. â€Å"Race or ethnic group is a major social factor that influencesRead MoreUnit 3 Citizenship, Diversity and the Public Services1510 Words   |  7 PagesDerbyshire and give them an interest and give them some inspiration to change their lifestyle for the better. However this project is not just for young people who are getting into trouble with the law, Steve also encourages family, social and school groups from any social-economic to participate in this great scheme. For these people of society this project offers a boxing style fitness session with circuit training and additional motivation from Steve, to develop overall fitness, self discipline andRead MoreEthnic and Racial Inequalities in the Justice System Essay556 Words   |  3 PagesEthnic and Racial Inequalities in the Justice System There are many ethnic differences in each stage of the justice system. In order to be able to prove these it is important to break the system down, and evaluate it bit by bit, showing the possible signs of ethnic differences. Firstly Policing, Philips and Bowling (2007) have noted that in the 1970’s there have been many accusations of oppressive policing if minority ethnic communities. These have included mass stop and search operationsRead MoreRace And Ethnicity Searches For Equality1232 Words   |  5 Pagesall racial and ethnic groups though we find that inequality is still a common issue. Racial and ethnic groups are expanding and outnumbering the dominant force, however, minority groups still have no rule against the dominant force. A minority is a subordinate group whose members have remarkably less control or power over the dominant force.(pg.4) Groups are ranked by pinpointing unique features of an individual in order to define them within a specific bracket. For example, a minority or subordinateRead MoreEssay on Affirmative Action Discriminates against Asians1146 Words   |  5 Pagespast. It is a set of procedures intended to eliminate the discrimination of an applicant based on their ethnic origin. President John F. Kennedy first introduced the concept â€Å"broadly across the United States with his Executive Order number 10925† and â€Å"in 1978 the Supreme Court ruled that race could be used as an admission standard† (Wilcher). The utilization of race is a â€Å"plus factor† for minority races but it has developed into a disadvantage for Asian-American students who demonstrate academic excellence

The Great Recession And Financial Crisis - 1865 Words

The Great Recession or Financial crisis started in late 2006 beginning of 2007 when the subprime mortgages in the united states started to exhibit at a growing rate of mortgage defaults. Which led, in late 2006, to a decline in US housing market after exponentially higher growth. Many homeowners witnessed how the assets, (main source) devalue. By mid 2007, the housing market started showing an unusual default on home loans. By 2008, the U.S. witnesses and live the worst financial recession since the end of WWII. In 2008, a number of Banks, Financial Institutions and Non-Financial institutions failures sparked Financial Crisis or as some economist call â€Å"The Great Recession† that efficiently froze the entire world Financial institutions,†¦show more content†¦The Financial crisis has its roots in real estate and the famous sub-prime lending crisis. In 1990, during president Bill Clinton administration, Commercial banks and residential properties witnessed their values increase for almost a decade. Increases in the house market coincide with the lowering of interest rate and lending standards to unqualified borrowers accepting them to take out mortgages whereas at the same time the government deregulations mixed the lines between traditional financial institutions and mortgages lenders. The real estate loans were distributing through out the financial Banking system in the shape of CDOs and other complex derivatives in order to scatter or spread the risk; however, when home values stopped to rise and homeowners flopped to keep up with their payments and banks were forced to foreclosure their homes. The financial crisis from 2007 to 2009 may well be called the financial engineering and corporate authority gone wild. The birth of the financial crisis can be draw back to the property asset bubble in the US between 1997 and 2006. This financial bubble was enabled by a badly regulated subprime mortgage industry and the assumption that property prices would continue to

Case Laramie Free Essays

The Laramie account is a big account. It is a big account because this is the first time they are having a full-scale audit of their financial statements and they are planning to go public and become an initial public offering (PIP). Since this is our first time this is happening we have to very careful with the analytical procedures. We will write a custom essay sample on Case Laramie or any similar topic only for you Order Now Analytical procedures are reasonableness test auditors compare their estimates of account balances with those recorded by management. Analytical procedures must be applied in the planning stages of each audit, according to auditing standards. After reviewing the data from 2010 – 2011 you noticed that all the accounts increase, expect for the both â€Å"Days† account, which decreased and the â€Å"market price for Copper Rod† which reminded the same. This information can raise a few questions for Laramie Company. For example, Sales increased by 4% from year 2010 to 2011 , while that same time span the Days Sales in Receivables increased by 16% ((55. 8-47. 9)/47. 9))*100. Why aren’t these numbers closer in change? What did the company change about the policies on collecting their money, if any? Another flag that can be thrown and raise question is about the inventory. Even though the price of the plastic decreased and the inventory increased, we have to make sure It’s the right balance. Is the new price of inventory at the correct price and is the account receivables correct as well? What system are they using to create these fugues? The examples I provide for analytical procedures are risk that can happen with the existence and valuation with management assertions. For existence you have to ask, â€Å"Did this really happen and are the valid on the balance sheet? Valuation assertion is the issue of each of Individual Inventory, accounts receivable, and accounts payable accounts have the correct values and are not over/under stated. Existence and valuation assertions are the biggest concern with the Inventory. The Increases are mostly In finished good and copper rod Inventories. The plastics Inventory appears to be understated do to the change from 2010 to 2011 (. 190 to . 130). This drop In the market price should attract attention during the audit from the auditors. The Inventory turnover (Sales/ Inventory) decreased from went from 4. 7% to 3. 0% from 2010 to 2011. These ratios point to potential concerns relating to the valuation and existence assertions. This comparison points to a possible concern relating to the valuation assertion. Lastly, the Inventory seems to be too big for the space that they are providing for It. Case 8. 1 Laramie By Subjugating the inventory increased, we have to make sure it’s the right balance. Is the new price is the issue of each of individual inventory, accounts receivable, and accounts Existence and valuation assertions are the biggest concern with the inventory. The increases are mostly in finished good and copper rod inventories. The plastics inventory appears to be understated do to the change from 2010 to 2011 (. 190 to . 130). This drop in the market price should attract attention during the audit from the auditors. The inventory turnover (Sales/ Inventory) decreased from went from 4. 7% to relating to the valuation assertion. Lastly, the inventory seems to be too big for the space that they are providing for it. How to cite Case Laramie, Papers

Relationship Between Efficiency Wage Theory and Performance

Question: Discuss about the Relationship Between Efficiency Wage Theory and Performance. Answer: Introduction The paper examines the relationship between efficiency pay and performance and provide solutions that should be adopted by Australia to solve wage problems. The study focuses on the efficiency wages as well as the subjective performance in order to motivate workers in Australian labor market setting (Agell Bennmarker, 2007). The paper deeply reveals how turnover cost can be used to determine the optimal wage contract which in most cases is the integration of subjective performance and efficiency wages. According to various studies examined, it is quite evident that when Australian labor market is experiencing high turnover costs they tend to use more subjective pay as well as less efficiency wages. When the Australian market is experiencing such turnovers wage payment is always lower and employment equilibrium rises higher than normal. The paper is organized into two parts in which part one of the content describes efficiency wage theories and various models making it up. It further lay strong foundations on the theory implications of the theory and its models in labor market (Agell Lundborg, 2013). The second part of the discussion analyses various empirical evidence and end with a conclusion drawn efficiency wage models and sub models. Efficiency wage theory The efficiency wage theory according to various sources indicates that the productivity of an employee in every organization is directly dependent on the provided wages. The theory further elucidates some mechanisms which provide elaborations on the relationship between efficiency wage and performance. Efficiency wage theory also provides various mechanisms known as models which explain the dependence of wages and performance. Efficiency wage theory therefore from the explanations maintains that firms in Australia should pay their employees a wage that is above normal rate prevailing in the labor market. According to the economic literature, the theory only applies in a market clearing wage where labor supply is at the normal rate with labor demand. In such market as revealed by various economists, labor supply proceeding the normal rate leads to unemployment while excess labor demand by firms leads to labor insufficiency. According to normal economics a clearing market is at an equilibrium with natural unemployment. Since the market is at equilibrium firm owners and managers therefore apply efficiency wage theory in order to increases performance or labor productivity (Akerlof Yellen, 2016). Application of efficiency wage theory as already mentioned in the introduction above increases worker productivity and reduces turnover. The main idea behind efficiency wage is to increase labor productivity. The idea can be confirmed with the application of basic economics as discussed during the lessons. The relationship between efficiency wage and performance can be justified in a simple supply demand curve. As normal demand supply curve illustrates higher supply at higher prices so as the higher the wage the higher the productivity of an employee (Campbell Kamlani, 2007). In a normal life situation, an employee of a given organization will always tend to put on more effort at higher compensation. For instance, a worker being paid a higher wage rate will work longer hours compared to a worker being paid at the normal labor market prices. A worker which is being given a compensation higher than the normal will also put more effort and worker harder. On the other hand, an employee being given less payments will tend to work as per the pay (Campbell Kamlani, 2007). The graph below illustrates the idea behind the higher you work the higher one gets paid. The graph has organized inform of a labor supply curve to indicate how efficiency wage relates to performance. The x axis indicates labor in hours while the Y axis indicates wage offered. The above graph indicates the effect of price increase on the willingness an employee is willing to work. With an increase of the wage from the minimum wage of $100 to $200 for every five hours of work done, an employee is willing to add extra three hours due to the increase in the pay. It is therefore evident from the above with higher compensation a worker will work harder therefore justifying the efficiency wage theory of the higher the wage the higher the productivity or performance Efficiency wage theory models The efficiency wage models give an assertion that labor productivity of employees in any given firm correlates positively with the amount of compensation they receive. This model can be explained through various theories or sub models. These theories give reasons as to why firms in Australia should continue applying the idea of efficiency wage. The first model explaining the reason why Australian firms should adopt efficiency wage theory is the shirking model. The theory of shirking models states that when an employee is being given a wage above the normal wage he or she becomes afraid of losing the job to another person since the cost of losing a job at higher wages is high. Workers therefore at higher compensations do not shirk and risk being relieved of their duties. Higher wages as a result of acts as an incentive in this case. Another reason why firms are advised to apply the theory of efficiency wage can be seen through the model known as the gift exchange model. In most of the occasions workers tend to view high wages as a gift from the employer firms. With this kind of perception, a higher percentage of workers show hard work as way of returning this gift to the employers. It is therefore clear that in the process of retuning the gift to the employers, the workers rate of performance increases. Workers will also work hard when they perceive their employer as fair. When employees are paid above the normal Australian job market pay rate they tend to view higher payment in terms of fairness therefore working harder. On the other hand, when workers are paid wages under the amount they view to be fair they will the same apply less efforts at work. This model is known as fair wage effort mode relating efficiency wage performance with fairness and performance. The relationship between efficiency wage and labor performance can also be explained through a turnover model as already mentioned (Krueger Summers, 2008). The turnover models explain that if efficiency wage theory is adopted in Australia firms will be saved from the cost of training new workers every time. This is because if workers are paid high wages there are low chances of employees leaving one firm to another or quitting their jobs thus no need for new workers as already employed workers maintain their jobs. Adverse selection model is another model supporting the theory of efficiency wage. This model states that when employees are compensated with a wage thats is above the prevailing job market equilibrium wage, attention of more workers are drawn towards the firm. In other word this theory explains that efficiency wages attract diverse skills enabling the firm to select workers from available bigger pool (Nickell, 2009). This always happens when more diverse workers are drawn to the gates of the well-paying firm. The firm therefore enjoy the advantage of selecting bets workers from the bigger labor pool. It is therefore important for firms in Australia to employ efficiency wage to enjoy better performance and high labor productivity. On the other hand, application of efficiency wage may result into several implications and consequences. Even though the efficiency wage theory has proved to have several advantages, it can also be viewed in another perspective (Layard, Nickell, Jackman, 2015). According to a research conducted on New York City taxi drivers, it was noticed that most of them left job after the payment. This kind of behavior indicates the disadvantage of efficiency wage theory. Drawing illustrations from the taxi drivers research in New York, it is evident that some employees may not show hard work after higher pay. Another implication of efficiency wage theory may be seen where the rate of cost of production does not much the profit. In a case where a firm is paying wages that is higher than the economic equilibrium (Wadhwani Wall, 2011). The higher payment is only worthy when the magnitude of employees productivity matches or actually higher than the cost of production. Another consequence of efficiency wage to the Australian economy may be unemployment. Application of efficiency wage always results into large labor queues at the gates of high paying firms resulting into involuntary unemployment (Nickell, 2009). Irrespective of many people looking for jobs as a result of high payment, firms tend to limit the number of employs in order to avoid accelerating cost of production. Efficiency wage therefore results into unemployment as mentioned since firms conduct rationing of employees in order to ensure that marginal cost of production is similar or higher that the productivity marginal. Part Two Empirical Evidence Various studies have been conducted concerning efficiency wage where some criticize the theory while others support it. The main problem of efficiency wage theory is mostly as a result of methodologies or alternative models used. There are several factors which play major roles as variables in the theory models which does not make sense. It close to impossible measuring abstract notions such as fairness and gratitude. Other factors which cannot be measured in the efficiency wage models includes effort as well as asymmetry information (Wadhwani, Wall, 2011). A lot of information concerning performance can be explained by other models better compared efficiency wage theory. The study conducted by various writers suggest the relevancy and effectiveness various models or theories used to explain efficiency theory. According to various studies, these models may have a different meaning in the real world. These discussions in the current study have been linked to above discussed models in relations to efficiency theory. Shirking model in real world situation The study conducted by George Borjas in support of shirking model conducted in a manufacturing industry in the United States of America can be criticized in the real world. The study indicated that some workers were laid off as a result of shirking. He indicated in his studies that the dismissal of workers from the company was as disciplinary action since they dismissed workers were shirking (Campbell Kamlani, 2007). In contrary to the study of George, other studies like that of Polachek and Siebet justify that most firms are reluctant firing shirking workers. Gift exchange model According to the study of Agell and Lunborg which gives assertion that efforts related to work hinges on a higher rate compared to several firms ability lay lethal economic related penalties. The idea behind this study was supported by several readers who responded to Campbell and Kamanis study (Akerlof Yellen, 2016). The model therefore cannot be justified in the normal world situation and does not explain psychological integration between managers of firms and workers. Most of the respondents to the study of Campbell study suggested that most relevant gift to employers than wages is the adverse labor selection. It is difficult in the normal world for employers to incur extra cost on wages as motivation as it may bring complications with the workers unions. The turnover model in relation to real world situation In the real world situation, employers always deduct training cost from employees compensation after they are employed (Agell Lundborg, 2013). Therefore, most of the employers will tend not lay much concern on training cost. Both literatures from the studies of Campbell and Kamlani as well as that of Agell and Lundborg provides the confirmation that most employers retain their employees based on human capital rather than training cost. Fair wage effort theory Most of the workers in the real world always view cuts laid on the salaries as unfair but not the less wage they receive. Drawing illustration from C-K it is justifiable that cut on salaries means a lot unfairness than low wages (Agell, Bennmarker, 2007). Moreover, it is unfair for employers to give more wages compared to labor output. Viewing the situation in another perspective, the study done by Lundborg and Agell substantiate the idea of fairness in relation to firms. Conclusion It evident from the part to of the study that most studies lay support on efficiency wage theory application. They also tend to pin point various unclear ideas behind efficiency wage theory in relation to performance. Furthermore, various sub-models indicates various problems as most of the variables cannot be closely observed. It is therefore evident that efficiency wage theory is polycausal rather than monocausal compared to unionization. It is therefore clear that in most cases the models cannot explain the relationship between wage and performance. Drawing conclusions from the current study the Australian state policies makers should closely view the implications and consequences of efficiency wage theory. Efficiency theory models and hypotheses can be considered to be non-satisfactory since several variables used are not observable thus policy makers should not bank in the theory. References Agell, J., Bennmarker, H. (2007). Wage incentives and wage rigidity: A representative view from within. labour economics, 14(3), 347-369. Agell, J., Lundborg, P. (2013). Survey evidence on wage rigidity and unemployment: Sweden in the 1990s. The Scandinavian Journal of Economics, 105(1), 15-30. Akerlof, G. A., Yellen, J. L. (2016). Efficiency wage models of the labor market. Cambridge University Press. Campbell, C. M., Kamlani, K. S. (2007). The reasons for wage rigidity: evidence from a survey of firms. The Quarterly Journal of Economics, 112(3), 759-789. Clark, A. E., Oswald, A. J. (2006). Satisfaction and comparison income. Journal of public economics, 61(3), 359-381. Fehr, E., Tyran, J. R. (2007). Money illusion and coordination failure. Games and Economic Behavior, 58(2), 246-268. Krueger, A. B., Summers, L. H. (2008). Efficiency wages and the inter-industry wage structure. Econometrica: Journal of the Econometric Society, 259-293. Layard, P. R. G., Nickell, S. J., Jackman, R. (2015). Unemployment: macroeconomic performance and the labour market. Oxford University Press on Demand. Nickell, S. (2009). Product markets and labour markets. Labour Economics, 6(1), 1-20. Wadhwani, S. B., Wall, M. (2011). A direct test of the efficiency wage model using UK micro-data. Oxford Economic Papers, 43(4), 529-548.