Character Transformations In Dh Lawrences the Blind Man And the Ho :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  In DH Lawrence’s stories â€Å"The Blind Man† and â€Å"The Horse Dealer’s Daughter,† the reader watches as characters move from having something missing in their lives, to being truly whole.   Ã‚  Ã‚  Ã‚  Ã‚  Lawrence uses images of darkness to illustrate the emotions of his characters. In â€Å"The Blind Man,† Isabel goes to look for Maurice and when she steps into the stable where he is, â€Å"The darkness seemed to be in a strange swirl of violent life† (Lawrence, 132). The darkness that swirled around Isabel is the darkness in which Maurice lives. The â€Å"Horse Dealer’s Daughter,† is also consumed in darkness, as seen in the description of the dwindling town. The description reads like a disaster report on the five o’clock news: â€Å"across a shallow dip in the country, the small town was clustered like a smoldering ash, a tower, a spire, a heap of low, raw, extinct houses† (Lawrence, 147). To live in a town such as this, a person would become part of the â€Å"smoldering ash,† as Mabel had. When Mabel was with her brothers she â€Å"sat on like one condemned,† (Lawrence, 144) as they discussed her fate. Sh e stayed quiet, working in the house because the family could no longer afford the hired help they once had. They could, in fact, no longer afford the horses that once brought them money. As the family breaks apart, with each sibling going his separate way, Mabel finds herself trapped by her emotions.   Ã‚  Ã‚  Ã‚  Ã‚  There is a great tension felt by each of Lawrence’s characters. Mabel, in â€Å"The Horse Dealer’s Daughter,† and Maurice, in â€Å"The Blind Man,† are excellent examples of this tension. Mabel’s tension seems to remain an internal struggle, while Maurice’s affects his wife greatly. After closer examination, it is apparent that Mabel’s internal struggles become evident as she interacts with her brothers. She works in the kitchen and rarely answers them when they speak to her. She has pushed aside any traits she may have possessed and has become like a hired hand, going about her work, not speaking. Maurice’s struggles are shown through his actions also. When Bertie and Isabel are talking after dinner, Maurice excuses himself. He seems uncomfortable in the situation and consequently retires himself to the darkness of the stable. It is not until Bertie goes out to look for him, that Maurice confronts his emotio ns.   Ã‚  Ã‚  Ã‚  Ã‚  The characters of Maurice and Mabel move toward wholeness as they confront the emotions they have previously denied.

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Dhvani This word means â€Å"sound† literally, but does not deal with the fhction of sound in the musical sense. The theory was first propounded by Anandavardhana, the ninth century thinker, in his treatise, Dhavanyaloka (Dhvani+aloka). The Dhvani theory considers the indirectly evoked meaning or suggestivity as the characteristic f a e of literary utterance. This feature separates and determines the literary from other kinds of discourse, and is an all-embracing principle which explains the structure and function of the other significant aspects of literary utterance: the aesthetic &e,d or rasa, the figural mode and devices (alamkara), and so on. Related article: Fallacy of Absolute StatementIn Kapoor's words, â€Å"all the subsequent literary theorists in the tradition found the combination of rasa and dhvani theories both adequate and sufficient to analyse the constitution of meaning in Indian literature. † In his treatise I have mentioned before, Anandavardhana has given a detailed description of structural analysis of indirect meanings. According to him, if we can explain how indirect meanings arise systematically, we can claim that all potential meanings inhere in a text. Anandavardhana uses the term dhvani to designate the universe of suggestion. The soul of kmya is dhyani, he says). His preference for the term sprang from the fact that grammarians before him had used the term to denote several concepts. First, to denote the sound structure of sabda or words; second, to denote the semantic aspect of sabda; and third, the complex of the now revealed suggested meaning and the process of suggestion involved. Thus dr vuni theory is a theory of meaning (an Indian hermeneutics or sorts), of symbolism. The thrust of this theory is towards claiming a greater value for the poetry of suggestion.Anandavardhana integrates the theory of the rasa with his dhvani theory; that is, he says that dhvani is the method through which the effect of rasa is achieved. Rasa is the effect of suggestion. Mimesis For Plato (429-397 B. C. ), ‘poiesis' or what we call literary theory or even criticism was an imitation or, ‘mimesis'. (‘Poiesis' (GK) translates into poetry, in English, but the focus of these two term is very different, for the Greeks lyric poetry had a very small part to play as compared to the epic or drama. Plato and Aristotle moreover theorised not about lyric oetry, but about tragedy and comedy, about drama, so Richard Harland suggests the more appropriate use of the terms literary theory/criticism for the Greek ‘poiesis'). Plato called ‘poiesis' an imitation or ‘mime sis' because he believed drama to be a reproduction of something that is not really present, and is therefore a ‘dramatisation of the reproduction' (Richard Harland, p. 6). What he means is that in a play or an epic, what happens is this – the poet recreates an experience, the audience watch that re-created experience, they are in fact encouraged to live through that experience . s if they are physically within the time and space of that experience. Not only this, Plato, also goes on distinguish between ‘mimesis' and ‘digenesis'. â€Å"Mimesis' is the speech of a character directly reproduced,' whereas ‘digenesis' is ‘a narration of doings and sayings where ‘the poet speaks in his own person and does not try to turn our attention in another direction by pretending that soineone else is speaking . ‘ [Plato, quoted in Harland, p. 7). With this distinction between ‘mimesis' and ‘digenesis', it is easy for us to discern that drama is entirely ‘mimet~c' , whereas epic is mi metic only where dialogue is reproduced rii t e%:! t. where the poet t r l l s (lie ~ [ O I, il I ,d i ‘r IV. / $C' . I ! ] . iiurt, this is what larv called ‘ s h c ~111 ~:' , 1 1 1 t i ‘tcllii~g'r e:,pet>l~l; . l1l*zi~h owever disapprt . imitation, and i)1 tit~ln,ltiscdd ~alogue. ‘Mimesis', in Greek thought primarily meant ‘making' of one sort or another. This is well recorded in Plato. Plato gave a new metaphysical and epistemological perspective to mimesis, enlargening its meaning from ‘making' by human hands to ‘making' by universal force.Yet, mimesis, not only in Plato's definition but in the use of the concept in the whole of western tradition, always retained the sense of not only ‘making,' but of ‘making' a copy of some original which was never totally independent of the model. (Gupt 93). In Platonic theory, all art (techne) has been taken to mean some kind of manipu lation close to craft. In the Sophist, Plato has divided techne into acquisitive, productive and creative categories of which the last brings into existence things not existing before.However, the highest art, in the scheme of Plato is not music or poetry, but statecraft, which is compared to the making of a tragedy in the Laws (817B) and to sculpture in the Republic (420C). All production, in a general way, is ‘mimesis'. In the Greek usage, there was not only the term ‘mimesis' but others such as mithexis (participation), homoiosis, (likeness) and paraplesia (likeness) and which were close to the meaning, of mimesis. These terms were also used to show the relationship ‘between an im age (eidolon) and its archetype.Moreover, not only are objects imitated by pictures of them, but the essences of things are imitated also by names that we give to those things. For example, the essence or the dogness of a dog is imitated by the name ‘dog' given to that creature ( Cratylus 423-24). Similarly, reality is imitated or mimetised by thought, eternity by time (Timaeus 38b). The musician imitates divine harmony, the good man imitates the virtues, the wise legislator imitates the Form of God in constructing his state, god (demiourgos) imitates the Forms in the making of Ws world. With Aristotle the concept of mimesis undergoes a major transformation.It retains the condition of being a copy of a model, but the Platonic denigration is reversed. This reversal is based on a metaphysical revision. The permanent reality is not transcedental in Aristotle's opinion. When an artist makes an object, he incorporates certain universal elements in it but he does fall short of any absolute model of dniversality. Because of the universality contained in art, in Aristotle's view, art, as all other imitation leads to knowledge. The pleasure that mimesis provides is on account of knowledge that is acquired through mimesis, even though this knowledge is of particulars: And since learning and admiring are pleasant, all things connected with them must also. be pleasant; for instance, a work of imitation, such as painting, sculpture, Toetry, and all that is well imitated, even if the object of imitation is not pleasant; for it is not this that causes pleasure or the reverse, but the inference that the imitation and the object imitated are identical, so that the result is that we learn something. † (Rhetoric I, xi, 1371 b; trans. Freese qtd. by Beardsley 57) Besides possessing didactic capacity mimesis is defined as a pleasurable likeness.Aristotle defines the pleasure giving quality of mimesis in the Poetics, as follows: â€Å"First, the instinct of imitation is implanted in man from childhood, one difference between him and other animals being that he is the most imitative of living creatures, and through imitation learns his earliest lessons; and no less universal is the pleasure felt in things imitated. Thus the reason why men enjoy seeing a likeness is, that in contemplating it they find themselves learning or inferring, and saying perhaps, ‘Ah, that is he. ‘ Imitation, then, is one instinct of our nature. (Poetics IV. 1-6 ) As a corollary it follows that the artist is no liar, but on the contrary, leads us to Truth. However, Aristotle seems to have limited his vision when it comes to enumerating the objects of imitation. In Plato, all creation was an imitation of Forms, which were transcendental. For Aristotle, though the Form (eidos) of every object existed, it was not a transcendental reality but something within Nature which Nature itself tends to attain. Further, it is said that for Aristotle, Art helps Nature in this endeavour of attaining the perfection of Form.This interpretation of Aristotle's metaphysics has been based upon his two oft-quoted sayings, â€Å"Art imitates Nature† (Physics iii. 2 I94a 21. ) and â€Å"the artist may imitate things as they ought to be† (Poetics XXXV: I ). Amplifying from this Butcher has concluded: † If wekxpand Aristotle's idea in the light of his own system, fine art eliminates what is transient and particular and reveals the permanent and essential features of the original. It discovers ‘form' (eidos) towards which an object tends, the result which nature strives to attain. (150) There is little in the writings of Aristotle that can explicitly sustain such a conclusion. This discovery of the form (eidos) in objects tends to make Aristotle into a shadow of Plato. Aristotle admits that there is something permanent and enduring in art, but that something could be called eidos, is beyond substantiation from Aristotle's writings. Similarly, the dictum, art imitates nature, has given rise to many interpretations over the centuries. â€Å"It has been argued that the irrner principle of Nature is what art imitates.But if we follow out his thought, his (Aristotle's) reply would appear to be something of this kind. Nature is a living and creative energy, which by a sort of instinctive reason works in every individual object towards a specific end † (Butcher 155). The teleological and structural pattern of tragedy seems to have been transferred on to Nature by Butcher. This was a typical nineteenth century view of Aristotelian philosophy. Since the Renaissance, different definitions of Nature have been foisted upon Aristotle's dictum, art imitates Nature.For the purpose of drama, the most disastrous one was that of realism, which having captured fiction by techniques of portraiture, landscape, and caricature, transferred these on to drama. Aristotle was clear that a e purpose of imitation in drama, was to provide proper pleasure by imitating action. Mimesis of men in action was mimesis of all human life. Through music, the artist imitates, anger and mildness as well as courage or temperance (Politics v. viii. 5. 134~1 8) and ethical qualities and emotions. Similarly, he says, â€Å"Dance,'imitate s character, emotions and action† (Poetics 1. 5).We should be content to note that in drama he applied the general theory ef mimesis, which he thought, was both for the s&e of pleasure and knowledge. But even the Aristotelian affirmation of pleasure in art was not sufficient to free art from being constantly compared with its original, that is the worldly objects. This originally Platonic habit, has been strong throughout western criticism which repeatedly gauges art in terms of how truthfully or realistically it represents the world, how much of an understanding of the world can it bring to us, one way or another. , 3. 3 THE MEDIA OF MIMESIS 3. 3. 1 Rhythm, Language, and Haniony After stating that epic poetry, tragedy, comedy, dithyrambic poetry, flute or lyre playing are all ‘modes of mimesis,' Aristotle states that mimesis in different arl forms is achieved differently, and that the object and manner of mimesis is different in each case ( Poetics 1; 2-4 ). He states t hat the three media for all arts are as follows: For there are persons who, by conscious act or mere habit, imitate and represent various objects through the medium of colour and fonn, or again , by voice; so in the arts above mentioned, taken as a whole, the imitation is produced by rhythm, language and harmony, either singly or combined. Poetics 1:4 ) Leaving aside painting and sculpture which use colour and other forms (materials), the arts of performance like music, dance and drama, use rhythm, language and harmony. Flute and lyre use rhythm and notes only, and dancing uses only rhythm. But for Aristotle, rhythm is not a mere beat or a division of time, but movement with regularity, be it theemere movement of the body or that of notes. That is why, dancing, he says, imitates characteG emotion and action by rhythmical movement (15). -Poetry or verse whether creative or informative imitates through language alone, but dithyrambic and elegiac poetry, tragedy and comedy use all thre e means. In dithyrambic and elegiac poetry all three means are used together, but in tragedy and comedy now one means is employed, now Aristotle's Theory of Imitation Classical Cdtkisrn another (15). What is true of tragedy and comedy can be taken as true of all drama, satyr plays included. Aristotle's brevity of plan has prevented him from saying anything further about the manner in which rhythm, language and harmony are employed in drama.About the details of language (lexis) one can gather quite a few things from Aristotle's comments on language which he categorised as one of the six elements of tragedy. But the nature of harmony (which he called melopoiia and enumerated as another element of tragedy) is hardly touched upon by him. So is rhythm never mentioned again in the Poetics. No wonder, then, that one has to look elsewhere to gather information about the use of music in the Greek theatre. Aristotle perhaps took musical employment in drama for granted and, therefore, refraine d from stating anything further about it.But the result of what may have been for him a redundancy, was disastrous for the post-Renaissance readers of the Poetics. The practical art of theatre-music being extinct, the Europeans reconstructed a picture of Greek drama in which there was hardly any place for rhythm or music. Greek drama was envisaged as a primarily rhetorical affair (an impression reinforced by Roman tragedies) far removed from the balance of visual and aural channels of theatrical expression that ancient drama depends so much upon.But if Aristotle left out the details of musical application he was at least explicit in stating it as a medium of mimesis. However, he not only neglected but left out from his description of tragedy the visual content of Greek performances constituted by the physical movements and complex gestures of the actors and the chorus. More than their mask and costume, the Greek actors had a repertoire of highly emotive gestures, just as the chorus members had a repertoire of a variety of dances to create complex visual effects. CatharsisThere has been a sustained attempt to postulate that catharsis could be a common and basic aesthetic experience. But the very meaning of catharsis has been a source of conflicting interpretations. In the nineteenth century one major way of looking at catharsis was to take it as a medical term transferred to poetic criticism. Cleansing (kenosis) in the Hippocratic writings denotes the entire removal of healthy but surplus humours: Catharsis is the removal of the afflictions or excesses (â€Å"ta lupounta†) and the like of qualitatively alien matter (But cher 253). This doctrine of imbalance of vital forces later on called humours, as the primary cause of disease, is of purely Indian origin. As demonstrated by Filliozat, the science was well formulated in India as early as the Atharva Veda and travelled t o Greece through Persia). According to the Hippocratic theory, an imbalance among th e elements of air , bile (of two kinds) and phlegm causes each and every disease. The cure lying in subduing the overswollen element and restoring the balance between the four elements. Besides this well-stated medicinal doctrine, there was also the practice of curing madness through musical catharsis.The patients were made to listen to certain melodies which made them â€Å"fall back into their normal state, as if they had undergone a medical or purgative (cathartic) treatment† (Politics V. viii. 7. 1342 a IS qtd. in Butcher 249). It is further added that not only is catharsis achieved musically but that â€Å"those who are liable to pity and fear, and in general, persons of emotional temperament pass through a like experience; †¦ they all undergo a catharsis of some kind and feel a pleasurable relief' (Butcher 251).The nature of catharsis described in the Politics should be true for the Poetics, as Aristotle himself has stated that his observations are of a general na ture in the former treatise but shall be more detailed in a later work. Therefore, those who presumed that tragic catharsis like musical catharsis restores normally healthy emotional state, were not so wrong. But this rather clinical definition of catharsis does not satisfy the literary theorists. As early as Butcher it was felt there was more to it. â€Å"But the word, as taken up by Aristotle into his terminology of art, has probably a further meaning.It expresses not 6nly a fact of psychology or of pathology, but a principle of art (253). The tragic pity and fear he postulated, â€Å"in real life contain a morbid and disturbing I' element †¦ As the tragic action progresses, the lower forms of emotion are found to have been transmuted into more refined forms† (254). He further postulated that this purification is also a change of the personal emotion to the universal. Purged of the â€Å"petty interest of the self' (261) emotion now becomes a representation of the un iversal, so that the â€Å"net result is a noble emotional satisfaction† (267).It is not difficult to discern that catharsis is equated with aesthetic pleasure in which noble emotional satisfaction is an essential feature, â€Å"But whatever may have been the indirect effect of the repeated operation of catharsis, we may confidently say that Aristotle in his definition of tragedy is thinking, not only of any remote result, but of the immediate end of the art, of the Aristotle's Theory of aesthetic function it fulfils† (Butcher 269). Tragedy -Part IJ In my opinion, to raise the balancing function of catharsis to the level of . universalisation is to stretch the concept too far.CertC,-;rlyt, he restorative function of catharsis may bring relief such as a sick person feels upon recovery. But it is a presumption on the part of Butcher that universalisation takes place because the element purged from the dramatic emotion is that of personal â€Å"petty interest of the self ' (261). The Aristotelian catharsis, or for that matter the whole tradition of catharsis, by music or Dionysian orgies, has personal cure or satisfaction as its end. Inner restoration, but not the enjoyment of a new aesthetic element, can at best be the purpose of catharsis. The factors of enjoyment, of â€Å"oikeia hedone†, are ifferent as stated earlier. . Other than regarding it as purgational, there has been another m~jowr ay of interpreting catharsis. The dual concept of purity and impurity which pervaded the physical, moral, religious and spiritual life of the Greeks was the most deepseated factor governing their daily activities. The duality of pollution (miasma) and purgation (catharsis) was part of the Indo-European belief system. We find that in Greek plays, all tragic action is dependent on acts of transgression such as the murder of a kin, sexual defilement, affronts to deities, and so on.These acts brought pollution (miasma) upon the protagonist and the people ar ound him. In Greek religion there were prescriptions for expiation of such crimes, just as in India rituals were prescribed for purging of pollution. In tragedies, the very ritual of expiation was often enacted, as in the Oresteia. In most plays, the protagonist was expelled from the community by death or banishment; there was expulsion (kenosis) of the sinner and purification (catharsis) of a given location, city, grove or household. Whereas in some plays, as in the Oresteia, this cycle was shown in ,- itP n——. 1, . teness, in other playh it was shown partially. In some other plays as in Hecabe or Women of Troy, there is only miasma and no katharsis. Looked at in this way, tragedy was a depiction of the cycle of miasma and catharsis. To my mind, the annual enactment of tragedy was to reaffm the miasrnacatharsis duality, which was a major cultural value of ancient Greek society. In all ancient societies the purpose of retelling the myths, particularly on festive occasi ons, was many-fold; it was to preserve and transmit the stories, to re-state the beliefs they enshrined, and $0 relive the behaviour patterns sanctified by tradition.The retelling always had a ritual significance even if it took the form of dramatic enactment for the purpose of entertainment. Entertainment and ritual were intertwined in ancient theatre. In this manner, tragedy was a reliving of the pollution-purity cycle by both the actors and the spectators. The community, the protagonist, hisher acts, and the aroused emotions of the audience, all underwent a catharsis. In his analysis,of catharsis, Gerald Else has rightly grasped the spiritual significance that catharsis had for the Greeks, but he restricts the scope of purgation to the acts of the protagonist.For Else, remorse makes the hero eligible to the spectators' pity, and this pity along with the hero's remorse proves that the act of transgression was actually a pure (cufharos) act. Thus catharsis is the process of proving purity. As Else puts it: The filthiness inheres in a conscious intention to kill a person who is a close kin. An unconscious intention to do so, i. e, in intention to do so without being aware of the kinship as Oedipus did not know that he killed his father would therefore be pure, catharos. But purity must be proved to our satisfaction.Catharsis would then be the process of proving that the act was pure in that sense. How is such a thing proved ? According to Nicomachean Ethics (3,2, 11 lob19 and 11 1 la20 ), by the remorse of the doer, which shows that if he had known the facts he would not have done the deed. In Oedipus, the thing which establishes this to our satisfaction is Oedipus' self blinding. It, then, effects a purification of the tragic deed and so makes Oedipus eligible to our pity. (Else 98) From this interpretation it seems that Else does not believe that catharsis enefits the audience and their emotions in anyway. In his reading of the famous passage , in the Poetic s, catharsis is purification of the tragic deed and not of the emotions of the spectators. This goes against all other instances of catharsis as mentioned by Plato and Aristotle. The examples they have givenindicate a change in the mental state of the spectators or music listeners. Besides, it is nowhere indicated by Aristotle that pity in tragedy was aroused for the purpose of regenerating and purifying the sin and the sinner.He is more concerned with showing how we can feel pity for the protagonist. This feeling in us is more capable of providing catharsis to us rather than just providing that the act of the hero was catharos. If the concept of catharsis is to have any general utility, it must be persumed that the cycle of pollution and purgation (miasma and catharsis) effects an emotional catharsis in the audience as well. A harmonious view of catharsis which combines its spiritual, clinical and aesthetic effects is more in keeping with the unified approach of the ancients. Biogr aphia Literaria Biographia Literaria was begun by its author as a literary autobiography but ended up in discussions about Kant, and Schelling and Coleridge's perceptive criticism of Wordsworth's poetry and a comprehensive statement on creative imagination which constitutes his most signal contribution to literary criticism and theory. As was his wont, oler ridge has let his awe-inspiringly powerful mind loose on aestheiics, its philosophical foundations and its practical application in an almost desultory manner.The result is a mine of inexhaustible potential called Biographia Literaria to which critics of all shades of opinion have turned for help and inspiration and very seldom has any one of them been disappointed. Arthur Symons justly described the work as rthe greatest book of English criticism']. Coleridge has sometimes been accused of borrowing from the Germans, particularly from Kant, Sckelli~~angd the Schlegels, but most of his ideas were originally arrived at and, in my c ase. the system into which these ideas were f;tt~A as the creation of his own great mind. Coleridge's whole aesthetic – his definition of poetry, his idea of the poet, and h ~ s poetical criticism – revolve around his theory of creative imagination. From this point of view chapters XI11 and XIV of Biographin Liter~rri~alr e most sign~ticant. The statement of the theory of imagination in Biographia Litercrria is preceded by a prolix and, at time, abstruegn†;losophical discourse in the form of certain theses or propositions whose crs is Coleridge's attempt to define Nature and Self.Nature – the sum of all that is objective – is passive and unconscious while Self or Intelligence the sum of all that is subjective – is vital and conscious. All knowledge is the product of the coalescence of the subject and the object. This coalescence leads to the act of creation, I AM. It is in this state of self-consciousness that [‘object ar. d subject, be ing and knowledge, are identical'] and the reality of [‘the one life in us and abroad'] is experienced and affirmed and chaos is converted into z cosmos. What happens is that the Self or Spirit views itself in all objects which as objects are dead and finite.Coleridge's theory of creativeymagination is essentially grounded ir, ihis perception. Hence Coleridge's view of the . =lagination approximates to the ~riecvso l Schelling and Kant. Like Coleridge they recognise the interdependence of subject and object as complementary aspects of a single reality. Also they all agree about the self conceived 2s a totality: thought and feeling in their original identity and not as an abstraction. Thomas Steams Eliot (1888-1965) is probably the best known and most influential English poet of the twentieth century. His work as a critic is equally significant. l7. S.Eliot's critical output was quite diverse; he wrote theoretical piecesas well as stud~eso f particular authors. â€Å"Tradition and the Individual Talent† (1919) clearly expresses Eliot's concepts about poetry and the importance of tradition. Eliot emphasizes the need for critical thinking –â€Å"criticism is as inevitable as breathing†. He feels that it is unfortunate that the word â€Å"tradition† is mentioned only with pejorative implications, as when we call some poet â€Å"too traditional. † He questions the habit of praising a poet primarily for those elements in his work which are more individual and differentiate him Erom others. ccordingto T. S. Eliot, even the most â€Å"individual† parts of a poet's work may be those which are most alive with the influence of his poetic ancestors. Eliot stresses the objective and intellectual element. The whole of past literature will be â€Å"in the bones† of the poet with the true historical sense, † a feeling that the whole of the literature of Europe from Homer and within it the whole of the literiture of his own country has a simultaneous existence and composes a simultaneous order. † No poet has his complete meaning alone. For proper evaluation, you must set a poet, for contrast and comparison, among the dead poets.Eliot envisages a dynamic relationship between past and present writers. â€Å"The existing monuments form an ideal order amgng themselves, which is modified by the introduction of the new (the really new) work of art among them. † An artist can be judged only by the standards of thepast; this does not mean the standards of dead critics. It means a judgement when two things, the old and the new, are measured by each other. To some extent, this resembles Matthew Arnold's â€Å"touchstone† ; the â€Å"ideal order† formed by the â€Å"existing monuments† provide the standard, a land of touchstone, for evaluation.As with Arnold's touchstones, Eliot's ideal order is subjective and in need of modification from time to time. T. S. Eliot Eliot l ays stress on the artist knowing â€Å"the mind of Europe — the mind of his own country–a mind which he learns in time to be much more important than his own . private mind†. But he does not mean pedantic knowledge, he means a consciousness of the past, and some persons have a greater sensitivity to this historical awareness. As Eliot states, with epigrammatic brevity, â€Å"Some can absorb knowledge, the more tardy New Criticism must sweat for it. Shakespeare acquired more essential history from Plutarch than ost men could from the whole British Museum. † Throughout Eliot's poetry and criticism, we find this emphasis on the artist surrendering himself to some larger authority. His later political and religious writings too valorized authority. It is interesting that Eliot always worked within his own cultural space: religion meant Christianity, while literature, culture and history meant exclusively European literature, culture or history. Tradition, for Eliot, means an awareness of the history of Europe, not as dead facts but as a11 ever-changing yet changeless presence, constantly interacting subconsciously with the individual poet.He wants the poet to merge his personality with the tradition. â€Å"The progress of the artist is a continual self-sacrifice, a continual extinction of personality. † He suggests the analogy of the catalyst in a scientific laboratory for this process of depersonalization. The mind of the poet is a medium in which experiences can enter into new combinations. When oxygen and sulphur dioxide are mixed in the presence of a filament of platinum, they form sulphuric acid. This combination takes place only in the presence of platinum, which is the catalyst. But the sulphuric acid shows no trace of platinum, which remains unaffected.The catalyst facilitates the chemical change, but does not participate in it, and remains unchanged. Eliot compares the mind of the poet to the shred of platinum, which wil l â€Å"digest and transmute the. passions which are its material†. Eliot shifts the critical focus from the poet to the poetry, and declares, â€Å"Honest criticism and sensitive appreciation are directed not upon the poet but upon the poetry. † Eliot sees the poet's mind as â€Å"a receptacle for seizing and stonng up numberless feelings,phrases, images, which remain there until all the particles which can unite to form a new compound are present together. He says that concepts like â€Å"sublimity†, â€Å"greatness† or â€Å"intensity† of emotion are irrelevant. It is not the greatness of the emotion that matters, but the intensity of the artistic process, the pressure under which the artistic hsion takes place, that is important. In this way he rejects the Romantic emphasis on ‘genius' and the exceptional mind. Eliot refutes the idea that poetry is the expression of the personality of the poet. Experiences important for the man may have no place in his poems, and vice-versa. The emotions occasioned by events in the personal life of the poet are not important.What matters is the emotion transmuted into poetry, the feelings expressed in the poetry. â€Å"Emotions which he has never experienced will serve his turn as well as those familiar to him†. Eliot says that Wordsworth's formula is wrong. (Iam sure you would remember Wordsworth's comments on poetry in the Preface to the Lyrical Ballads: â€Å"Poetry is the spontaneous overflow of powerful feeling: it takes its origins from emotion recollected in tranquility. â€Å") For Eliot, poetryls not recollection of feeling, â€Å"it is a new thing resulting from the concentration of a very great number of experiences . . it is a concentration which does not happen consciously or of deliberation. † Eliot believes that â€Å"Poetry is not a turning loose of emotion, but an escape fiom emotion; it is not the expression of personality, but an escape from pers onality. † For him, the emotion of art is impersonal, and the artist can achieve this impersonality only by cultivating the historical sense, by belng conscious of the tradition It is now generally believed that Eliot's idea of tradition is rather narrow in two respects.First, he's talking of simply the poetic tradition and neglects the fact that even the poetic tradition is a complex amalgam of written and oral poetry and the elements that go into them. It was only in later writings that he realised the fact that in ibc making of verse many elements are involved. In his wntlngs on poetic drama he glves evidence of having broadened his scope. Second, Eliot is neglecting other traditions that go into social formations. When he iatrr wrote ‘Religion and Literature', he gives more scope to non-poebc elements of tradition. On these considerations one can say that he develops'his ideas on tradition T.S. Eliot throughout his literary career – right up to the time he wro te ‘Notes Towards a Definition of Culture' in which traditionis more expansive than in his earlier writings. Dissociation of sensibility is a literary term first used by T. S. Eliot in his essay â€Å"The Metaphysical Poets†[1] It refers to the way in which intellectual thought was separated from the experience of feeling in seventeenth century poetry. Eliot used the term to describe the manner by which the nature and substance of English poetry changed â€Å"between the time of Donne or Lord Herbert of Cherbury and the time of Tennyson and Browning. In this essay, Eliot attempts to define the metaphysical poet and in doing so to determine the metaphysical poet’s era as well as his discernible qualities. â€Å" We may express the difference by the following theory: The poets of the seventeenth century, the successors of the dramatists of the sixteenth, possessed a mechanism of sensibility which could devour any kind of experience. They are simple, artificial, d ifficult, or fantastic, as their predecessors were; no less nor more than Dante, Guido Cavalcanti, Guinicelli, or Cino.In the seventeenth century a dissociation of sensibility set in, from which we have never recovered; and this dissociation, as is natural, was aggravated by the influence of the two most powerful poets of the century, Milton and Dryden. † Theory of dissociation of sensibility The theory of dissociation of sensibility rests largely upon Eliot’s description of the disparity in style that exists between the metaphysical poets of the sixteenth and early seventeenth century and the poets of the late seventeenth century onward.In â€Å"The Metaphysical Poets,† [1] Eliot claims that the earlier grouping of poets were â€Å"constantly amalgamating disparate experience† and thus expressing their thoughts through the experience of feeling, while the later poets did not unite their thoughts with their emotive experiences and therefore expressed thoug ht separately from feeling. He explains that the dissociation of sensibility is the reason for the â€Å"difference between the intellectual and the reflective poet. † The earlier intellectual poet, Eliot writes, â€Å"possessed a mechanism of sensibility which could devour any kind of experience. When the dissociation of sensibility occurred, â€Å"[the] poets revolted against the ratiocinative, the descriptive; they thought and felt by fits, unbalanced; they reflected. † Thus dissociation of sensibility is the point at which and the manner by which this change in poetic method and style occurred; it is defined by Eliot as the loss of sensation united with thought. Eliot uses John Donne’s poetry as the most prominent example of united sensibility and thought. He writes, â€Å"[a] thought to Donne was an experience; it modified his sensibility. Eliot’s apparent appreciation of Donne’s ability to unify intellectual thought and the sensation of fee ling demonstrates that he believes dissociation of sensibility to be a hindrance in the progression of poetry. Eliot asserts that despite the progress of refined language, the separation between thought and emotion led to the end of an era of poetry that was â€Å"more mature† and that would â€Å"wear better† than the poetry that followed. Deconstruction Deconstruction has been variously presentehs a philosophical position, a political or intellectual stance or just simply as a strategy of reading.As students of literature and literary theory, we should be interested in its power as a mode of reading; therefore most of the points about Deconstruction in this Block will be made through instances of reading literature and philosophy. Let us begin here with a simple reading of Derrida describing a general strategy of Deconstruction: Every philosophical argument is structured in terms of oppositions and in this â€Å"traditional philosophical opposition we have not a pea ceful co-existence of facing terms but a violent hierarchy.One of the terms dominates the other (axiologically, logically etc. ), occupies the commanding position. To deconstruct the opposition is above all, at a particular moment to reverse the hierarchy†. Deconstruction, Derrida implies, looks upon a text as inherently riddled with hierarchical oppositions. A deconstructive reading uncovers not only these hierarchical oppositions but also shows that the superior term in the opposition can be seen as inferior. When we put together some other strategies of Deconstruction outlined in Derrida's writings, a working definition begins to emerge. To deconstruct a discourse is to show how it undermines the philosophy it asserts, or the hierarchical opposition on which it relies, by identifying in the text and then dismantling the rhetorical operations that produce the supposed ground of argument, the key concept or premise. † This explanation by Jonathan Culler is comprehensive . So, let us treat it as a companion to the description by Derrida cited above in order to advance our working idea of Deconstruction. Broadly speaking Derrida and Culler are making these points: 1. ‘ Deconstruction is a â€Å"searching out† or dismantling operation conducted on a discourse to show: . How the discourse itself undermines the argument (philosophy) it asserts. 3. One way of doing it is to see how the argument is structured/[email  protected], that is investigate its rhetorical status or argumentative strategy. As Derrida argues, this struchkis often the product of a hierarchy in which two opposed terms are presented as superior and inferior. Deconstruction then pulls the carpet from below the superior by showing the limited basis of its superiority and thus reverses the hierarchy, making the superior, inferior. 4. This reversed hierarchy is again open to the same deconstructive operadon.In a way, Deconstruction is a permanent act of destabilization. .So, Deconstruction points to a fallacy not in. the way the first or second hierarchy is constructed but in the very process of creating hierarchies in human thought (which as I have stated earlier, is indispensable to most if not all human arguments or thought. ). Deconstruction does not lead us from a faulty to a correct way of thinking I or writing. Rather it shows us the limitations of human thought operating through I language even while harboring the same limitations itself.Every deconstructive operation relies on the same principle it sets out to deconstruct and is thus open to deconstruction itself. Yet, Deconstruction is not simply about reversing hierarchieMough it is one of the I things a deconstructive analysis achieves. Fundamentally, it is a way of understanding the structure of a discourse, locating its controlling centre and identifying the unfounded assumptions on which it relies to function as a discourse. It may be compared to a probing operation that uncovers fault l ines in a discourse, which may include ideological assumptions and suppositions .

Essay about Review of Caterpillars Code of Ethics

Review of Caterpillars’ Code of Ethics Caterpillar Incorporated (Caterpillar) is the world’s top in manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. In 2008, Caterpillar reported sales revenue of $51.3 billion dollars from domestic and worldwide operations (Caterpillar, 2008). As reported in Caterpillar’s 2008 Annual Report, Caterpillar is a worldwide company with 67% of their sales from outside of the United States (Caterpillar, 2008). With a global reach and influence, Caterpillar has recognized the need to develop and implement a Code of Conduct to guide its management and employees in their daily practices to make Caterpillar the efficient and profitable global leader†¦show more content†¦In the post Enron era, a company must have honesty before any customers, suppliers, investors or general public has faith in their credibility as a company. The next pillar of Caterpillars Code of Conduct is Excellence. The excellence credo is further highlighted in the 2005 Code of Conduct as â€Å"The Power of Quality† (Caterpillar, 2005 p. 11). Caterpillar is trying to impart to the stakeholders and their employees that they strive for excellence in everything they do. Caterpillar has built a line of products and has a long standing tradition of high quality products that are in demand around the world. To build the quality they do, they instill the concept of excellence in their employees, suppliers and dealers. An important part of any successful business is the ability to develop and nurture a culture of teamwork. The third principal Caterpillar notates in its Code of Conduct is teamwork, in which they stress that they â€Å"know by working together, we can produce better results than any of us can achieve alone† (Caterpillar, 2005 p. 17). Caterpillar also uses the principal of teamwork to emphasis that the global and cultural diversity of their company is a competitive strength. In an enlig htening approach to teamwork, Avshalon Adam and Dalia Rachman-Moore (2004), discuss how companies implement their ethical codes. They haveShow MoreRelatedOrganizational Goals955 Words   |  4 Pagescomprehensive mission statements that review their goals in terms of leadership, quality and value, profits, ethics, and social responsibility is Caterpillar (King, Case, and Premo, 2010). Caterpillar Caterpillar will be the leader in providing the best value in machines, engines, and support services for customers dedicated to building the world’s infrastructure and developing and transporting its resources. We provide the best value to customers. Caterpillar people will increase shareholder valueRead MoreCaterpillar Company Analysis Essay4206 Words   |  17 PagesCaterpillar Inc. Caterpillar Incorporated is the world’s largest producer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Caterpillars headquarters are located in Peoria, Illinois,  United States. The company operates in three principal lines of business: machinery, engines, and financial products. The machinery segment includes the design, manufacture, marketing, and selling of all kinds of machinery such as; tractors, forestry and mining machineryRead MoreWhat Do You Think Would Be More Effective for Shaping Long-Term Ethical Behavior in an Organization: a Written Code of Ethics Combined with Ethics Training or Strong Ethical Leadership? Which Would Have More Impact on You? Why?2200 Words   |  9 Pagesbusiness policies, for example, establishing codes of ethics combined with training programs, or/and execute these ethical policies which means â€Å"leadership in delegation, communication and motivation of the company’s ethical position to employees† (Murphy 1988, p.907). 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Key Terms in Strategic Management The Strategic-Management Model Benefits of Strategic Management Why Some Firms Do No Strategic Planning Pitfalls in Strategic Planning Guidelines for Effective Strategic Management Business Ethics and Strategic Management Comparing Business and Military Strategy The Nature of Global Competition CHAPTER OBJECTIVES After studying this chapter, you should be able to do the following: 1. Describe the strategic-management process. 2. Explain theRead MoreAppearance Discrimination in Employment22039 Words   |  89 Pages[pic]  Abstract [pic]  View PDF  (200kb) [pic]  Print View References †¢ References (67) Citations †¢ CrossRef (1) Further reading †¢ Related Content Search our articles for similar content †¢ Key readings Search our reviews for related items Marked list Top of Form Add to marked list:  Ã‚  [pic][pic] Bottom of Form Bookmark share   Ã‚  Ã‚  Ã‚  Ã‚   Reprints permissions   [pic] Legal and ethical implications of â€Å"lookism† and â€Å"lookphobia† The Authors Read MoreEthical Companies12021 Words   |  49 PagesEthisphere Institute, a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, announced the official unveiling of the 2011 World’s Most Ethical Companies. 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Instead, by using contract workers supplied by others, they face fewer employment legal issues regarding selection, discrimination, benefits, discipline, and termination. BNA Using Contingent Workers 445.10 Review the types of contingent workers and the legal issues associated with their use. Demographics and Diversity The U.S. workforce has been changing dramatically. It is more diverse racially, women are in the labor force in much greater numbers thanRead MoreArticle: Performance Appraisal and Performance Management35812 Words   |  144 Pagesmanagement system came to the practice. The main purpose of this paper is to differentiate these two systems, employee’s performance appraisal and management system. This paper uses a review of the literature to evaluate the development of appraisal system and argues the critic areas of appraisal system. The review identified as advancement in the management field and growing complexity in corporate sectors demand more capable HR, so mare appraisal of employee’s performance is not sufficient. Employee’s

Terror Management Theory Essay example - 905 Words

Terror management theory (TMT) asserts that human beings have natural tendency for self-preservation if there is threat to one’s well–being (Greenberg, Solomon, Pyszczynski, 1997). It notes that we are the cultural animals that pose self-awareness on the concept of past and future, as well as the understanding that one day we will die. We concern about our life and death but aware that it is unexpected by everything. The worse matter is that we become aware of our vulnerability and helplessness when facing death-related thoughts and ultimate demise (Pyszczynski Greenberg, 1992). The inevitable death awareness or mortality salience provides a ground for experiencing the existential terror, which is the overwhelming concern of people’s†¦show more content†¦We react to the death concerns through the acquisition and maintenance of self-esteem. Empirical evidences have established the association between self-esteem and cultural worldview. It showed that in dividuals with strong culture worldviews have higher self-esteem (Solomon, Greenberg, Pyszczynski, 1991). On the other hand, the research suggested that self-esteem is able to serve a death-denying function. If someone is being asked to think about their own death, it would increase their need for the protection affords by the cultural worldview and the self-worth derived from it (Harmon-Jones, Greenberg, Pyszczynski, Solomon, McGregor, 1997). Based on this presumption, TMT derives a hypothesis - anxiety buffer hypothesis, suggesting that self-esteem serves as an anxiety buffer against the mortality salience (Pyszczynski et al., 1999). Anxiety buffer hypothesis posits that self-esteem is an emotional buffer to defend against anxiety (Solomon et al., 1991). There are several significant evidences to support the claim that self-esteem serves as an anxiety buffer function. First of all, there are large literature review indicated that self-esteem is negatively correlated with various measures of anxiety and the physical and psychological consequences of anxiety. Leary and Downs (1995) demonstrated thatShow MoreRelatedTerror Management Theory1289 Words   |  6 Pagesself-preservation is a characteristic to both humans and animals, the understanding of one’s own mortality is uniquely human. How do we, as humans, deal with the terror that is associated with this knowledge? According to Terror Management Theory (TMT), de veloped by Jeff Greenberg, Sheldon Solomon, and Tom Pyszczynski (1989), the need for â€Å"terror management† is a fundamental function possessed by humans and cultural systems. Based on the writings of anthropologist Ernest Becker and inspired by Freud’s workRead MoreTerror Management Theory1289 Words   |  6 Pagesself-preservation is a characteristic to both humans and animals, the understanding of one’s own mortality is uniquely human. 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Manifesto Of The Communist Party Essay - 1702 Words

In the chapter, â€Å"Manifesto of the Communist Party† in The Marx-Engels Reader book, Karl Marx and Friedrich Engels had broken up the topic of the Communist Party up to four parts: 1. â€Å"Bourgeois and Proletarians†, 2. â€Å"Proletarians and Communists†, 3. â€Å"Socialist and Communist Literature†, and 4. â€Å"Position of the Communists in Relation to the Various Existing Opposition Parties.† In this essay, I’ll be focusing on the first two parts of the â€Å"Manifesto† since there are so much information to cover within three to four pages. To begin I would like to summarize, â€Å"Bourgeois and Proletarians† was about the vicious cycle of the proletariats having to constantly fight the socioeconomic classes above them considering that they are always exploited, yet they have no norms (â€Å"appropriation†) of their own to secure or embrace. â€Å"Proletarians and Communists† was where Marx and Engels defi ne what Communism is, how it relates to the Proletarians, and how Communism works (or would work). History can be trace back to the class/political struggles; the oppressed fighting against their oppressors; the â€Å"subordinate gradations†. Subordinate gradation was defined as a social rank, where the highest power is at the top and the weakest is at the bottom. However, when old subordinate gradation falls another one would rise, that was the cycle. Marx and Engels went on to make a statement that the current class antagonisms are between the bourgeoisie and the proletariat. The proletariat is defined as theShow MoreRelatedManifesto Of The Communist Party920 Words   |  4 PagesThe Communist Manifesto, originally drafted as, â€Å"Manifesto of the Communist Party†, is a pamphlet written by Karl Marx, that in essence reflects an attempt to explain the goals and objectives of Communism, while also explaining the concrete theories about the nature of society in rela tion to the political ideology. The Communist Manifesto breaks down the relationship of socio-economic classes and specifically identifies the friction between those classes. Karl Marx essentially presents a well analyzedRead MoreThe Manifesto Of The Communist Party Essay1526 Words   |  7 PagesIntroduction: The Manifesto of the Communist party is a book written in 1847, by a group of radical workers part the â€Å"Communist League.† Including the radical workers, the group comprised of Karl Marx, and Friedrich Engels. 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He is one of the most important people in the history mostly due to his ideas that people refer to as Marxism, which includes many essays and theories about politics and economics. His most famous work is called Manifesto of the Communist party. In this manuscript, along with his friend Friedrich Engels, he states that the best way for a society to develop is through a revolution and struggle in which the working class will rise against the bourgeoisie or the ruling class. TheyRead MoreNew Democracy And Manifesto Of Korean Communist Party1273 Words   |  6 PagesDemocracy and Manifesto of Korean Communist Party In January of 1940, Zedong Mao delivered a speech during a liberal conference in Yan’an, the center of communism and socialism in China. In the speech, Mao argued that the fate of Chinese revolution must be held in hands of proletariats, and as a leading result, the revolution must construct China as a socialism country. 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Speed Cast International Ltd Annual Report †Myassignmenthelp.Com

Question: Discuss About The Speed Cast International Ltd Annual Report? Answer: Introduction AASB 16 shall be effective from 1st January 2019 onwards, the main objective of which is the recognition of all kinds of leases that are above 12 months in the financial statements. Under this standard, the lessee shall recognize the right to use an asset on the assets side and the liability to pay the lease payments on the liability side of the balance sheet. Further, the lessee shall also record the depreciation of such leased asset and the interest on lease liability in its income statement (AASB, 2016). Also, the cash flows shall show the cash repaid portion of lease payments and bifurcate it into interest and principal. This shall be common for all types of leases whether operating lease or finance lease. Hence, the application will cater to both types of leases. We shall elaborate the above points with regard to a company in GICS Sector Speed Cast International Limited, a leader in the field of network service from the perspective of a stakeholder, say the Shareholders of the company. Change in leasing standard and its impacts Amendments in the lease standard The leasing standard has been changed due to the reason that the earlier model required to classify the lease into operating lease and finance lease but did not require the lessee to show the leased asset and its liability in its financial statements in case of the operating lease (AASB, 2016). Due to this the users and stakeholders of the financial statements of the lessee were not finding a satisfactory presentation of the lease transactions in the financial statements of the lessee in case of an operating lease. Hence the concerned boards have decided to make the requisite amendments to the leasing standards (Porter Norton, 2014). Disclosures in the income statement The change will be that the lessee will have to record the right of use of the asset in the balance sheet and consider it as a depreciable asset and also show the obligation to pay off the lease payments as liabilities in the balance sheet (Northington, 2011). Further, the depreciation of the said asset and interest on the lease payments shall be disclosed in the income statement. Distributable profits The above said changes will have an impact on the net incomes shown in the income statement of the lessee as the interest on lease payments as well as depreciation will be added to the expenses in the income statement. Hence the net incomes will get reduced. Such as reduction in net distributable incomes shall affect the shareholders of the company as the distributable profits will reduce and thus the earning per share will reduce. Therefore, it will impact the wealth of the shareholders since there will be a reduction in the profits of the company. Decision making ability The benefits to the shareholders will be that after the new lease standards are adopted, the shareholders will have a transparent picture of the lessee companys financial leverage and capital employed and as such a better comparison can be made as to in which company they should invest further. The decision-making ability of the investors will undergo an immense change. The disadvantage shall be the reduced portion of their profits in the form of dividends and also a reduction in total equity. Effect of AASB 16 on Financial Statement Recognition of lease effects First, we shall ascertain the effects of the new standard on the lessee companys financial statements that is Speedcast International Limited. The changes in the recognition of lease effects will change the related ratios such as net profit ratio which was 2.70 % for the year ending December 2016, Net Leverage Ratio which was 8.67% and other such ratios (Melville, 2013). The N.P Ratio will decline due to increase in the interest and depreciation expense. The Net Leverage Ratio will show an increase due to rise in borrowings which are the lease payable (Speedcast International Ltd, 2016). Other ratios such as interest coverage ratio, Earning per share will also show a downfall due to increase in expenses and decrease in net profits. When the expenses are on a surge and the Earnings and dividends The effect on the stakeholders financial statements will be that as the earnings and dividends will reduce from the lessee company and such it will reduce the net profit of the stakeholders also. Further, due to a reduction in dividends and earnings per share, the market price per share may reduce and thus the total value of investments may reduce which is shown in the balance sheet. Reporting on the environmental and social aspects of the leased assets When it comes to reporting regarding the environmental and social aspects such as energy use and efficiency, carbon emissions, etc of the leased assets, it should be the responsibility of that entity which has got the right to use that asset and is actually using it. The reason behind this is that as the asset is no longer in the hands of the lessor as the lessee has legally taken the right to use the asset and is using the asset for the business operations (Bodie et. al, 2014). For our chosen stakeholder that is the shareholders, there are no regulatory requirements for such reporting as the lessee company is using the assets for its business use and the shareholders are not using the assets for their individual use. The following points are reported: Whether or not the emissions from the leased asset are creating any health hazard to the environment. Whether or not the regular pollution control and checking are done for the leased asset. Whether or not the user of leased assets is fulfilling the requirements of reporting to the regulatory authorities within time. Other such related points which are important to ensure that the society and environment as a whole are not being harmed by any leased asset. Hence, the lessee should ensure that the society or the environments are not affected by the lease arrangement. For example- water or air pollution, soil erosion, cutting of the tree, emission of harmful gases, loss of jobs. This is required as this will adversely affect the society and environment which shall have long-term ill effects (Shah, 2013). On the other hand, if the lease arrangements give back advantages to the society, it will be advantageous in both short and long run for the owner or user as well. Hence, it will create a positive impact that will help the organization, as well as the society at large. Usefulness of AASB 16 to the users of financial statements of the lessee company. The overall reporting after the AASB 16 comes into effect shall be more beneficial and informative to the users of financial statements. The changes in reporting and its use by the users of financial statements can be summarized in following points: Change in the financial metrics The new standard that will be effective from the year 2019 shall almost eliminate the reporting of the leases off balance sheet and the lease transactions will be shown on the balance sheet and income statement. Earlier and at present also the financial lease is shown in the income statement and balance sheet but the operating lease is being shown outside the financial statements in the notes to accounts (Libby et. al, 2011). The proposed change will help in redefining of the financial metrics such as the financial ratios like gearing ratio, and other such ratios (KMPG, 2016). It means that the effect of operating lease and their effect on the ratios will also be known to the users of financial statements. The benefit of this will be ease of comparison with other companies in the industry but the disadvantages are also there as the net profitability of the company will go down further affecting the creditability, the finance costs and also the perception of the stakeholders. Disclosures of the profitability segment and the asset base of the company The users of the financial statement will better know the asset base of the company once this standard comes into effect as the assets that are being used by the company whether owned or leased will be reflecting in the balance sheet (Damodaran, 2012). At present the assets under operating lease are shown as off-balance sheet item (KMPG, 2016). The users are generally aware of the financial statements and do not go into in-depth study in the notes to accounts and other information. Disclosures necessary for the financial institutions imparting loans to the lessee company. The information regarding the net worth of the company, the existing borrowings, the profitability of the company and such matters are of utmost importance for the financial institutions from which the company seeks financial assistance (Parrino et. al, 2012). When the operating lease is not recognized in the financial statements although the right to use the asset is vested in the company, this does not give the correct picture of the financial position of the company to the financial institutions (KMPG, 2016). Hence with the implementation of the AASB 16, the financial institutions will have a clear image of the financial position before imparting any more loans and advances. Investing decisions The users of the financial statements of the lessee will now determine whether they want to further invest in the company or not. This is due to the fact that the company shall show the interest and depreciation expenses in the income statement which will for sure bring down the profitability (BDO 2016). Further, this will impact the earnings per share/dividends to the shareholders and may be a reduction of the market price per share. This may result in a reduction in the number of investors of the company as they will start getting lower returns on their investments (Speedcast International Ltd, 2016). Summary of the total report to be presented to the Chief Executive Officer The total concept of AASB 16 shall be summarized through following precise points: Lease recognition As per the earlier and present standards on leasing, the leases are classified in the financial statements as operating lease and finance lease. With the coming of the new standard, all the leases will be recognized in the same manner and there will be no difference in the operating and finance lease with regard to their recognition in the financial statements (AASB, 2016). Ratio analysis The new standard will affect almost all the financial ratios such as gearing ratios or net leverage ratios, current ratio, asset turnover ratio, interest coverage, net profit/ margin ratio. Other financial metrics will also be affected such as EBITDA, Net Profits, earning per share, dividend per share, operating cash flows, etc (BDO 2016). Changes in the standard The changes in the standard will affect the perspective of the stakeholders of the company such as shareholders, investors, government, employees, financial institutions, etc. as there will be changes in the credit ratings, borrowing costs, net asset values, earnings per share of the company which directly or indirectly affect the stakeholders (Needles Powers, 2013). New standard for new standards. The implementation of the new standard will increase the total expenses of the lessee company as the lease rentals will be replaced by interest on the lease was taken as well as the depreciation on the right to use assets (Williams, 2012). The main effects will be that due to the large assets such as ships, aircraft, big machinery, etc. and not small assets such as computers, laptops, small equipment, etc Conclusion Going by the overall discussion it can be commented that the new standard will be highly beneficial to the organization and eliminate the lease reporting and will thereby appear on the balance sheet. Hence, a level of an enhanced transparency will be witnessed. From the amendment and updating point of view, it can be said that the new standard will altogether bring a vast change in the reporting mechanism in respect to the operating leases which was treated as an off-balance sheet item. Hence, the shareholders will be able to get a better grasp of the lease operations which was not possible earlier. Though there are certain problems but in totality the mechanism will be highly beneficial and bring widespread transparency. References AASB 2016, Leases, viewed 19 September 2017 https://www.aasb.gov.au/admin/file/content105/c9/AASB16_02-16.pdf BDO 2016, New leases standard requires virtually all leases to be capitalised on the balance sheet, viewed 19 September 2017 https://www.bdo.com.au/en-au/accounting-news/accounting-news-february-2016/new-leases-standard Bodie, Z., Kane, A. Marcus, A. J 2014, Investments, McGraw Hill Damodaran, A 2012, Investment Valuation, New York: John Wiley Sons. KMPG 2016, AASB 16: A fundamental overhaul of lessee accounting effective 2019, viewed 19 September 2017 https://home.kpmg.com/au/en/home/insights/2017/04/aasb-16-fundamental-overhaul-lessee-accounting.html Libby, R., Libby, P Short, D 2011,Financial accounting, New York: McGraw-Hill/Irwin. Melville, A 2013, International Financial Reporting A Practical Guide, 4th edition, Pearson, Education Limited, UK Needles, B.E. Powers, M 2013, Principles of Financial Accounting, Financial Accounting Series: Cengage Learning. Northington, S 2011, Finance, New York, NY: Ferguson's. Parrino, R., Kidwell, D. Bates, T 2012, Fundamentals of corporate finance, Hoboken, NJ: Wiley Porter, G Norton, C 2014, Financial Accounting: The Impact on Decision Maker, Texas: Cengage Learning Shah, P 2013, Financial Accounting, London: Oxford University Press Speedcast International Ltd 2016, Speedcast International Ltd Annual Report Accounts 2016, viewed 19 September 2017 https://www.speedcast.com/speedcast-reports-full-year-2016-results/ Williams, J 2012, Financial accounting, New York: McGraw-Hil

The Effect of Other Countries Dumping in United States Why America is acting against Chinese Dumping in the US

Table of Contents Introduction The concept of â€Å"dumping† Why is China dumping in the US? The impact of Dumping in America Concept of ant-dumping policy Effect of anti-dumping policy Works Cited Introduction Over the last two decades, most countries, including the United States, have become more cautions of the excessive supply of cheap products from foreign markets. In particular, the United States has enacted anti-dumping campaigns and measures to control the influx of cheap goods from, among other nations, China. Since China accessed the world trade organization in 2011, its reach for western markets has grown tremendously.Advertising We will write a custom essay sample on The Effect of Other Countries’ Dumping in United States: Why America is acting against Chinese Dumping in the US specifically for you for only $16.05 $11/page Learn More However, America and her western counterparts have been reluctant to engage China in mutual trade, considering the excessiveness of cheap products China has been supplying to foreign nations (Messerlin 109). The US considers this excessiveness of cheap good from China as â€Å"dumping†, thus employing various strategies to protect her industries against the overflow of cheap Chinese goods in the local market. This is also becoming the situation affecting India as it grows to be the second largest producer of cheap products after China. The purpose of this discussion is to analyse the impact of â€Å"dumping† in American market by foreign nations, with a special reference to China. Arguably, despite the accession of China to the WTO and the fact that China hosts a large number of American manufacturer’s, there is need for the United States to continue protecting her market and industries from dumping. The concept of â€Å"dumping† According to Vandenbussche and Zanardi (93), dumping is defined as an international trade situation where a productâ €™s export price is significantly lower that its market price in the country of origin. However, it is worth noting that the sale of a product based on bargain price is not included in the definition for dumping. Why is China dumping in the US? It is no doubt that America is a major market for products from all over the world. In fact, most nations seek to develop trade relationships and agreements with the United States in order to access America’s potential and developed market. However, America is also a major producer and exporter of commodities in the world, and targets foreign markets for its goods. In the recent past, however, the emergence of large economies like China and India has threatened America’s presence in the world market. China’s accession to the WTO in 2001 improved the trade relationship between China and America, which has seen the Chinese manufactures target America as a chief market for their goods (Blonigen and Bown 43).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, American corporations have set up major outlets in China, especially in the manufacturing sector. However, there have been problems in this relationship, which seems to affect America more than they affect China. First, China has the world’s largest population at more than 1 billion people. The presence of cheap labour is evident in China. Chinese workers are paid a fraction of what most low-paid employees get in the western world. As such, Chinese manufacturers enjoy cheap and readily available labour. This places them at an advantage over the American firms, which in turn allows them to sell their products at a cheaper price in the US. In fact, American corporations such as Apple have moved to China in search of cheap labour, but their main market remains in the US. The impact of Dumping in America The impact of this is that Am erican market is flooded with cheap Chinese goods because they are cheaply produced in China. American firms face stiff competition from these products because they cannot produce cheap products due to high cost of production. When American firms lose the local market to their Chinese counterparts, their production and growth reduces. As such, their rate of hiring reduces, while layoff rates are likely to increase. As more people purchase cheap Chinese goods, the rate of unemployment is likely to reduce in the US, while that of China increases. Finally, Chinese goods are not necessarily made to meet American standards. Dumping sub-standard products in American market for the sake of cheap price is likely to affect the American economy because consumers will be spending large amount of resources to replace these products. Concept of ant-dumping policy In 1994, members of the world trade organization made an agreement on implementation of its Article VI, which imposes the responsibili ty of nations to curb dumping in their markets (Van den Bossche 56). The agreement, known as the â€Å"Anti-dumping Agreement†, was developed under the General Agreement on Tariffs and Trade in the 1994 convention.Advertising We will write a custom essay sample on The Effect of Other Countries’ Dumping in United States: Why America is acting against Chinese Dumping in the US specifically for you for only $16.05 $11/page Learn More It allows member nations to impose anti-dumping measures to protect the domestic industries that can result from excessive presence of cheap foreign products in their markets (Van den Bossche 63). However, this must be pursuant to (and through) investigations under the 1994 agreement. In addition, a country’s imposition of a duty to curb dumping in its local market must be determined by the margin of dumping at a given time. This margin is obtained by finding the difference between the domestic selling pri ce in the exporting country and the export price of a given quantity of commodity. The dumped price can be considered a â€Å"fair price† and thus not significant reason to impose a duty when export price is added to dumping margin. In case it is difficult to determine a comparable price for offering the product in the domestic market due to low or lack of volume sales in the normal process of trade, the country must investigate the possibility of dumping by comparing the import price with the same price in a third nation. Alternatively, the WTO agreement requires the country to develop a â€Å"constructed value†, which should be used in comparison with the export price. There is a great deal of freedom for countries to impose anti-dumping measures against their trading partners. For instance, a government is not required to provide consent or even offsets to an initiative taken as a countermeasure by its trading partner. Effect of anti-dumping policy Anti-dumping poli cies, such as the one initiated by the US against China, have a wide range of effects on both local and foreign economies. With implementation of such policies, products are likely to become less attractive to an importer, which favours local products. Local firms are likely o enjoy reduced competition. In addition, local firms enjoy tremendous growth and expansion, which provides a source of employment for the local population (Nelson and Vandenbussche 127).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, anti-dumping policies have some negative impacts. For instance, local firms need to import some goods and raw materials that are not available in the local market. When a foreign nation such as China has been targeted with an anti-dumping policy, it is likely to reciprocate by increasing the price of exporting such materials to the trade partner. As such, local firms are likely to face tough terms and conditions as well as high prices when importing products from the targeted country. Moreover, such a policy is likely to discourage competition in the market, which in turn hinders development. In addition, it is likely to favour local firms such that they increase product prices deliberately since there is no competition. Works Cited Blonigen, Bruce and Chad Bown. â€Å"Antidumping and Retaliation Threats†. Journal of  International Economics 60 (2009): 249–273. Print Messerlin, Patrick. â€Å"China in the World Trade Organization: Antidumping and Safeguards †. World Bank Economic Review 18.2 (2008): 105–130. Print Nelson, Douglas and Hylke Vandenbussche. The WTO and anti-dumping. New York: Edward Elgar Publishing Limited, 2009. Print Van den Bossche, Peter. The Law and Policy of the World Trade Organization. Cambridge, UK: Cambridge University Press, 2010. Print. Vandenbussche, Hylke and Maurizio Zanardi. â€Å"What Explains the Proliferation of Antidumping Laws?† Economic Policy 23 (2008): 93–138. Print This essay on The Effect of Other Countries’ Dumping in United States: Why America is acting against Chinese Dumping in the US was written and submitted by user Aria N. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.