Banking and Finance Essay Example for Free

Banking and Finance Essay Introduction The automated teller machine (ATM) is a machine that acts as a teller in an institution by receiving and issuing money to and from the ATM account holder or user. The growth and evolution of at ATMs was not only due to, but rather as a result of general global concentration in the technological revolution. This came due to challenges of multiple bulk of daily complex information that arise from existing difficulties like; increase in competition, increase in customer’s demand for both services provision as well as efficiency , expansion due to increase in demand and all the likes just to name a few. The ATM system used by micro financial institutions today is an inherited system from banking system therefore brought in efficiency in different micro financial institutions in terms of speed, data processing and storage. Thus, it brought in enormous improvement in queuing in institutions in use of the ATMs. Despite all the merits of ATMs, customers still bring up complains on the demerits of the system such as; breakdown of ATMs, long queues at the ATM service point, retention of customers cards. In this light, this research entails to find out why all these cries after all the goods incurred in the system. 1.1 Background of the study. 1.1.1 Historical background. The history of micro financial institutions can be trace as far back as the 1880s when the theorist Lysander Spooner was writing over the benefits of from small credits to entrepreneurs and farmers as a way of getting people out of poverty. Today, the use of the expression ‘’micro financing’’ has its root in the 1970s when organisatons were sarting and shaping the modern industry.At that time,many microfinance ini tiatives introduced many new innovations into the sector.Many entreprises began experimenting with loaning to the under served people. The main reason why micro financing is been traced back to the 1970s is that, the programme could show that people can be relied on to pay their loans and that it’s possible to provide financing services to poor people through market based enterprises without subsidies.

Some Issues Of Governance In Pakistan Economics Essay

Some Issues Of Governance In Pakistan Economics Essay Good governance is regarded as development agenda in Pakistan by each government while the public see governance as the major indicator for sustainable development. In this premise, good governance is known as one of the most decisive factor for thriving accomplishment of the strategic thrust, policies and programs. It is as an exercise of authority to manage a countrys affair at all levels to improve the quality of life of the people. It is a continuous process where divergent opinions and desires are satisfied through compromise and tolerance in a spirit of cooperative action for the mutual benefit of the larger whole.  [1]  According to World Bank and UNDP, governance has three dimensions; the political regime, the systems and procedures for exercising authority and the capacity of governments.  [2]  This paper discusses the underlying causes of weak governance and interaction between state institutions and citizens in Pakistan along with suggesting some policy options as minimum action needed for improvement. It is widely acknowledged by the academia that the state-machinery of government has contributed to the present state of affairs. Further, the federally-managed resources are obstacles for provinces to obtain the best value for money. Sincere civil servants are frustrated with cost ineffective systems and procedures; the general public is faced with an irresponsive and non accountable political and bureaucratic system while the entrepreneur is witnessed with a set of contradictory policies which further hinder his business. Briefly, both federation and provinces of Pakistan must bring about drastic changes to achieve economic growth and to improve the quality of life of its people. Conceptual Framework of Good Governance The term good governance is coined by the World Bank and its foundations rest on the principles of freedom, equality, justice and accountability. Philosophical literature and religious texts are full with the definitions and examples of both good and bad governance. The traces of good governance can be found in history which reports the downfall of nations due to bad governance and also gives lessons that how nations have risen to great heights because of good governance. At the moment, the concept of governance has been evolving from some narrow definition used by the World Bank as the manner in which power is exercised in the management of a countrys economic and social resources to the broader definition adopted by the Commission on Global Governance as the sum of the many ways in which individuals and institutions, public and private, manage their common affairs.  [3]   Good Governance in the context of Pakistan, go beyond good politics. In Pakistan good governance must enable all the stakeholders to enhance economic growth, social development and a mechanism to sustain growth in the future. This can be achieved through civil services reforms, capacity building of institutions, improving and devolution of fiscal administration, increasing the role of the private sector and controlling unproductive public expenditures. All of these fall within four broad areas, namely, legislative framework, institutional capacity, efficiency and management.  [4]  Legislative framework is set of boundaries within which institutions, agencies and agents can operate and therefore addresses issues related to devolution, discretion and accountability. Institutional capacity identifies the ability of institutions, agencies and agents to identify policies ensure coherence and coordination and ensure compliance. While the efficiency addresses issues of resource generati on, expenditure planning, expenditure controls regulation and overall public administration to ensure the most effective use of resources. The last but not the least is management which addresses issues related to the proper use of systems and procedures and the mechanisms used for the development of the infrastructure and the delivery of services by ensuring that there is an equitable and transparent access to goods and services and protection of public interest from private intrusion. Legislative Framework Legislative issues are important and need to be addressed. Although constitution of Pakistan draws responsibilities between various tiers of government yet there are some areas where no clear-cut allocation of responsibilities is specified. Further, this lack of clarity creates fragments between the functions of various tiers of government and the services which should be delivered by the provincial governments are yet delivered by the centre. This change has not yet been brought in the future programmes. It requires designing of new mechanism for attaining this very objective. One of such mechanism is employing Non Governmental Organisations (NGOs) in making communities aware of their rights and responsibilities. They have been developed to some extent but are largely working as case studies. However, this role needs to be extended. There are also concerns about the legislations that it is passed without adequate drafting skills. Furthermore, some built-in provisions and powers to s et aside any mandatory requirement are more often used. These provisions are related with extreme cases of hardship but history is full of the examples where these provisions have been exploited for personal gains. In addition, discretionary quotas provide benefits to the few. These steps result in inefficient public institutions and further pave the way for corruption. In this outline, discretionary quotas followed by discretionary power should be the removed as a first objective. Institutional Capacity-building Although legislation is necessary for an efficient and transparent allocation of responsibilities yet without the corresponding capacity, no change may be forthcoming.  [5]  Contrary to it, government institutions are facing huge number of shortcomings. Coherent and coordinated policies are absent in public institutions while the current systems and procedures are outdated.  [6]  Although the mechanisms to ensure coordination do exist yet are not implemented. Further there is permanent hindrance in routine management while the existing staff is also inadequately trained.  [7]  All of these issues can be eliminated through capacity-building of institutions. There is an immense need of decentralization of functions which means that financial powers and administrative authority should be given to the lowest tier of government. But decentralization is not a cure-all for resolving Pakistans continuing crisis of governance. It has the potential of decreasing the distance between citizens and the state and thus enabling the government to be more responsive to local needs.  [8]  Simple transfer of power from centre to region in decentralization will fail to empower the people, and intensify the crisis of governance to new levels.  [9]   An irresponsive civil service needs reforms to make the civil servants answerable for their actions. History of Pakistan has only witnessed a notable reform in 1973. Apparently, it was a measure designed to enhance the professional quality of the cadre but it became a powerful means of political influence. The current inefficient and corrupt needs to be weeded out and staff skills need to be developed to use modern management techniques.  [10]  Simple attendance at courses operated by civil service training institutions does not constitute training. Civil servants must be required to show absorption of training skills by results in tests and examination, and this process should be very frequent. Efficiency There are number of ways to achieve efficiency. The use of appropriate mechanisms ensures the greatest value for money and this can be one way out. Further, pro-active legislation and use of information can ensure target-based management. The use of information technology through the development and implementation of standardized procedures could also become the cornerstone for change. While private sector participation can overcome a number of shortcomings in the development of infrastructure but this would result in excessive rents accruing only to the few agents.  [11]  The legislative framework establishes the boundaries within which the public-private partnership can take place. However, these laws will need to be translated into a workable and transparent regulatory framework. Most of the existing institutions are manned largely by staff without the knowledge and understanding needed to adapt to a rapidly changing operating environment. The international environment is in favor of the industrialized nations hence Pakistan needs to adopt a strategy which has been shown to be successful by the newly emerging industrial states, that is, the induction of the private sector from inception to implementation. In other words, Pakistan must include the private sector in all facets of dealing with the international community starting with preparation of position papers and underlying research, to actually negotiating access and, the subsequent supervision and management of the accord. Moreover, the general complaint with respect to Pakistans exports has been the absence of quality control. The private sector must ensure that this becomes a necessary condition for export. Towards this end, trade associations should be encouraged to establish and operate training centers and central quality control facilities, set standards which are mandatory, and establish a system of penalizing violators. Management Management can be divided into three broad categories; economic management, fiscal administration and expenditure management.  [12]  Economic management means efficient allocation of resources to ensure wide spread and equitable economic and social development of a nation. It is the basic responsibility of any government and this can only be achieved through good governance. Unfortunately, this has been a dream for not only the policy makers of Pakistan, but also of its people. Fiscal administration is another need of hour in Pakistan. Breakdown in economic governance results from the failure of governments to institute a progressive taxation structure. Today taxes are imposed on and collected from the poor. Large segments of civil society, particularly the rich remain inadequately taxed. Also there is exemption of tax on agricultural incomes and capital gains and the taxation structure creates inefficiency in the economies. Fiscal policy of Pakistan shows excess of tax holidays, exemptions and grants without an independent audit of assessment by outside agencies. A fundamental problem, however, is that the tax base remains narrow and a large proportion of direct taxes are collected as deductions at the source. Much of these shortcomings of tax administration can be reformed through broad systemic changes undertaken at all levels. The effectiveness of the change will depend on political support. The establishment of independent and autonomous Revenue Authorities with a market based pay structure with built-in rewards and penalties should be considered as the most viable vehicle for reform. Expenditure management is another important issue as planning and budgeting systems are deficient in Pakistan. This reduces transparency and accountability in the process of allocation and expenditure. Consultation in matters of taxation with vested interest groups has always existed but there is little external input in making the budget. Expenditure requests are not scrutinized by legislators and budgets are framed without a consistent macroeconomic framework. Medium to long-term expenditure plans are not prepared, neither are such frameworks established which results is no link between the composition of expenditures and the financing of the deficit to major economic parameters, such as growth and prices. Therefore, it erodes efficient allocation and effective management of the macro economy. End Result Corruption Mis-governance leads and breeds corruption in a number of ways, through bribery and extortion, nepotism, and fraud and embezzlement. It reduces the efficiency on which an economy depends, and by increasing the cost of investment, lowers the potential return. It also reduces the governments resources and hence its capacity for investment. Corruption in Pakistan is not a unique phenomenon. It occurs up stream and has wings which encourage flight of capital. Corruption has had adverse effects on human development and as Pakistan faces a scarcity of resources, it is unable to set up and enforce an effective legal framework to eradicate the corruption. According to Robert Klitgaard, who first devised the equation of corruption in 1988, corruption is a function of monopoly power, discretion, lack of accountability and low government salaries.  [13]   Corruption = f (Monopoly power, discretion, accountability, low government salaries) The combination of monopoly power and discretion alone is a disastrous combination. When linked to the absence of accountability and low legal earnings they become more than just lethal. One obvious mechanism to eliminate corruption would be to review legislation which helps breed corruption, such as through creating monopoly power, permitting discretion without checks and balances, places authority without responsibility. Parallel to this should be an effort to reform the judicial system generally. Another mechanism would be to introduce legislation which is effectively implemented through an impartial and independent authority. Corresponding changes in the laws of evidence and trial should allow for flexibility in procedures and rigour of evidence. The legislation alone is insufficient for eradication of corruption. At the same time the strength and independence of the judiciary must be secured. In summary, the action needed to eliminate corruption should include accountability from the top, setting up of national anti-corruption commissions and exclusive corruption courts, ending of unnecessary discretionary laws and ensuring transparency. Conclusion To ensure sustainable and equitable development the government must realize its role in economic development. This can only be achieved best through a realization that such a positive role requires not an expansion in the scale of government activity, but an increase in its effectiveness and a major reallocation of its resources. Poor governance is now recognizable. There is a failure to establish a framework of law and government behavior conduces to development, with a tendency to divert public resources for private gain. No arbitrariness in the application of rules and laws with excessively narrowly based decision making mechanisms only exacerbate the problem. Further the development in Pakistan can be achieved through political stability, stable macroeconomic environment, the outward-looking trade strategies, the quality of primary education, effective land reforms, credit reforms, a merit based efficient and competent bureaucracy, well-functioning institutions and development of core areas of comparative advantage. In sum, governance is a continuum; it does not automatically improve over time. Citizens need to demand good governance. Their ability to do so is only enhanced by awareness, education, and employment opportunities. The Government of Pakistan needs to be responsive to those demands. For change to be effective it must be embedded in the societies concerned and cannot be imposed from the outside. Notes

Histoy of Blackbeard the Pirate Essay -- essays research papers

Throughout history pirates have terrorized the world’s seas. There are few men that have been feared as much as pirates were. Names such as pirate, buccaneer, and privateer were given to these men and women that terrorized the seas. Black Sam Bellamy, Bartholomew Roberts, Jean Lafitte, Stede Bonnet, and Ann Bonny are some of the most feared names know to man. These were the names of pirates that dominated the seas during the 1600’s and 1700’s, a time known as the â€Å"Golden Age of Piracy.† However, one of the greatest pirates of all time was the great Edward Teach, alias Blackbeard. He terrorized the seas for most of his gruesome life during this era. The â€Å"Golden Age of Piracy† marked a time when sea travel was unsafe for everyone, with Blackbeard being one of the lead factors.   Ã‚  Ã‚  Ã‚  Ã‚   The history of piracy dates back more than 3000 years. â€Å"It appears that the word pirate (peirato) was first used in about 140 BC by the Roman historian Polybius. The Greek historian Plutarch, writing in about 100 A.D., gave the oldest clear definition of piracy. He described pirates as those who attack without legal authority not only ships, but also maritime cities (http://www.piratesinfo.com/history/history.php).† The most common meaning of the word pirate recognizes them as an outlaw and a thief. Anyone who was caught and tried with the act of piracy would be sentenced to death.   Ã‚  Ã‚  Ã‚  Ã‚  Most people are familiar with the words pirate, privateer, and buccaneer. These words are all names given to groups of pirates. They were all essentially the same thing, with slight differences. In one case, however, you could be considered a legal pirate. These men were called privateers. â€Å"A privateer was a pirate who by commission or letter of marque from the government was authorized to seize or destroy a merchant vessel of another nation (http://www.piratesinfo.com/fact/famous.html).† Many kings hired privateers to help weaken their enemies. Privateers would sail the seas and loot and pillage ships in the name of their country. They tended to stay as far from the coast as possible to avoid any navy that might be about. Privateers with a letter of marque were considered legal by international law and they were not supposed to be charged with the act of piracy. However, more often that not, if the enemy managed to seize a privateer, they would oft... ...rd’s corpse, there were no fewer than 25 wounds, 5 being from pistol shots. Blackbeard truly was a giant of a man, and it took a whole army of men to finally bring him down. Maynard beheaded the corpse of Blackbeard and hung the head from his ships bowsprit as he sailed home victorious. â€Å"The mutilated body of the pirate was thrown overboard in Ocracoke where he fell. Legend has it that the headless corpse saw around the sloop several times in defiance before it sank form sight† (Botting, Douglas – The Pirates).   Ã‚  Ã‚  Ã‚  Ã‚  Blackbeard’s death virtually marked the end of the â€Å"Golden Age of Piracy.† The â€Å"Golden Age of Piracy† only lasted about 30 years, but they may have been the most feared 30 years our world has experienced. No man was safe at sea with the dreaded pirates about. After Blackbeard’s death, no other pirate would be as great as he. Blackbeard may not have been the most successful or richest pirate of all time, but he is one of the most popular and recognized pirates of all time. Many tales are told of his battles at sea and of his pirate way of life. Blackbeard has, and will continue to go down in history, as one of the greatest pirates of all time.

A Capitalist Economy vs Socialist Economy Essay -- Capitalist Economic

A Capitalist Economy vs Socialist Economy There are a variety of economic systems today, which can influence how prosperous we will be as individuals or as a group. Socialism is an economic system where the government will be greatly involved in the economy. In a socialist economy the government can control many industries, provide public institutions such as health care and education, and equalize incomes of the population. A socialist economy is one of low unemployment and stability, where the government sets production quotas and price regulation upon their perception of the needs of the economy. On the other hand, a capitalistic economy is an economic system where there is a very limited amount of government involvement. The capitalistic economy is based on the demand of consumers and the supply of producers. There is a great advantage of living in a nation where there is a low amount of government intervention in the economy, because government intervention reduces the freedom of markets, causes a slow growing economy, and exploits the consumers in the economy. Firstly, high government intervention reduces the freedom of the markets. When the government controls an economy, the population is taxed in order to fund national programs. Taxing the consumers of the economy will reduce the personal spending, therefore causing the economy to grow in areas of public service such as education and health care instead of technology and fashion. Furthermore, the industries in a social economy are directed by quotas, which is production targets set by the government. The quotas don’t often represent the need in the economy, therefore causing a surplus or a deficit of products, which leads to small profits.... ...ions placed on industries in a social economy will affect the price, variety, and quality of products produced in their economy. In conclusion, there is a great advantage of living in a nation where there is a low amount of government intervention in the economy, because government intervention reduces the freedom of markets, causes a slow growing economy, and exploits the consumers in the economy. Capitalism provides a marketplace where industries compete in order attract more consumers, therefore providing more efficient, qualitative and plenty of variety for consumers. This efficiency, quality, and variety will help the economy grow in whatever way it wants to, making capitalism the most flexible economic systems. The nature of human beings is, one is satisfied, when he/she has provided the necessities for himself first, then the people around him.

Books for Africa Essay example -- Non-Charitable Organization

Books for Africa has kept over 28 million books out of landfills.(â€Å"Got books†page 1) Books for Africa is a organization that sends books to less fortunate children in Africa. Books for Africa is working hard to improve literacy rates in Africa. Books for Africa is a non-charitable organization that sends books to less fortunate kids in Africa. The organization is 100 percent volunteers dedicated to raising money to buy books. I'm sure you are wondering about sending books to Africa. The African literacy rate is very low and sending books to Africa helps the children in Africa learn how to read and write. (â€Å"Why Books?† Page 1) So, the organization is trying to fill the library shelves with books. United States Congressman of Minnesota said Keith Ellison â€Å"In Kenya, we were in a small village and the students had a wonderful school. They were eager to learn. They had motivated teachers, but they didn’t have any books in the school. They had no library. And so, imagine how proud I was to open up this box of shiny new encyclopedias and dictionaries from Books For Africa. They want more of your books. They can’t wait. They can’t get enough of these books.† (â€Å"Why Books?† page 1) Last year, Books for Africa sent 10 sea containers to Africa. (â€Å"Got books† page 1) Each container can hold up to 22,000 books and each costs $9,800. (â€Å"Books from America† page 1) Books are like video games in Africa, kids love them. So, that is why this organization sends books. They don’t only send books to kids in Africa they send E books, which are electronic devices that allow you to download books to them and you read them off of there. (â€Å"E-books for Africa† page 1†) Which is great since they don't have many books and the books they have are usually... ... bridge from misery to hope.†(â€Å"Books for Africa† page 1) Charity navigator the magazine said, â€Å"Books For Africa has earned its third consecutive 4-star rating for its ability to efficiently manage and grow its finances. Only 11% of the charities we rate have received this 'exceptional' designation, indicating that Books For Africa consistently executes its mission in a fiscally responsible way and outperforms most other charities in America.† (â€Å"Books for Africa† page 1) This just shows how this organization is growing. Its growing fast to! Books for Africa is doing everything in there power to increase the literacy rate in Africa. It is shown that in the communities that have received books more people are becoming more literate. This proves that Books for Africa is doing a lot to improve literacy rates. Books for Africa is going to do great things in the future.

Importance Of Tertiary Education

For many individual students preparing to graduate from high school, wondering whether or not they should pursue a higher education at a university or other learning institute is an issue that weighs heavily on their minds. It is a very difficult decision that depends on many different factors, such as the individual’s personal goals. Some students choose to go straight from high school directly into the workforce after graduating. Other students choose to go into the military after graduating from high school. While these are all different options, recent research indicates that higher education is extremely valuable.Recent research indicates that higher education is extremely valuable. For, individuals whom attended a university and obtained at least a four-year bachelor’s degree make more money on average than people who have never obtained a university degree according to the United States Bureau of Labor Statistics. In a study conducted by the United States Bureau of Labor conducted in 2009, it was concluded that someone with a four-year bachelor’s degree makes on average $20,748 more per year than someone without the degree.In a report done by the United States Census Bureau published in the â€Å"Current Population Report† by ? Jennifer Cheeseman Day and? Eric C. Newburger, it is estimated that high school graduates earn on average $1. 2 million throughout the course of a lifetime. It is also estimated in the report that individuals with a bachelor's degree will earn on average $2. 1 million total throughout their lifetime. As you can see, the facts show that getting a higher education is worth more value financially than stopping an education after graduating from high school.In addition to the high financial value of higher education, higher education also makes individuals much more intelligent than what they would be with just a high school education. The more intelligent an individual is, the better quality of life they a re likely to have. In â€Å"Wechsler's Measure and Appraisal of Adult Intelligence, 5th Edition† by Joseph D. Matarazzo, Matarazzo states that the average intelligence quotient (IQ) of a high school graduate is 105 points. He also states that the average intelligence quotient (IQ) of a college four-year graduate is 115 points.To quote Sociologist Linda Gottfredson of the University of Deleware, â€Å"IQ scores predict a wider range of important social outcomes than perhaps any other psychological trait; †¦ bright people have a tail wind in virtually all aspects of life. † What she means by this quote is that the higher an individual’s intelligence quotient, the higher the quality of life that they will have. This is true because those with higher intelligent quotients have higher problem solving abilities that correlate to better life qualities.In an Australian study studied by Gottfredson, motor vehicle fatalities were studied, correlating intelligence quo tients with motor vehicle fatalities. In the study, there was a direct correlation discovered between those with lower intelligence quotients, and higher death rates per 10,000 people. Ian Deary of the University of Edinburgh, in the United Kingdom did another study that shows how those individuals with higher intelligence quotients have higher qualities of life than those with lower intelligence quotients. For his study, he looked into the childhood intelligence quotient scores of a group of 80 year olds.In his study, he found that those who scored the highest on their childhood intelligence quotient tests were also the healthiest at age 80. These studies serve as evidence that having a higher intelligence quotient improves the quality of your life. College students who graduate with at least a Bachelor’s degree have on average higher intelligence quotients than those students who didn’t attend college, which means that those students who do graduate college with a de gree will have a better quality of life than those who don’t.Another reason why getting a higher education is very valuable is because it offers many new opportunities to students that they would be unable to get without having attended a university. Most, if not all, universities and other higher education systems offer many activities in which students will get to meet many other new students. Many students will meet new friends who often become some of the best friends that they’ve ever had. There are also almost always sports, clubs, and other activities to get involved with that would be unavailable to those not attending a higher education system.Many people participate on sports teams in high school such as football, baseball, field hockey, soccer, basketball, wrestling, track and field, and softball, to name a few. After they graduate high school they do not have many opportunities to participate in their favorite sports ever again. Whether it is for competitiv e purposes or just for enjoyment purposes, universities offer the opportunities to participate in some of their past favorite sports, or experiment with new ones.Another opportunity that students of higher education systems have exposure to that those who do not attend higher education systems do not have as readily available is the opportunity to study abroad. Studying abroad means taking educational classes in a country other than one’s own. Unless they are particularly financially wealthy, the majority of the individuals that do not attend higher education systems never get the opportunity to live in foreign countries for the entire length of a semester.According to a BBC news report, about 114,000 higher education system students study abroad each year at universities in foreign countries. Studying abroad is a great opportunity for higher education system students to take advantage of. When one studies abroad, they get the chance to learn about another culture through fir st hand experience, they get the chance to learn how to fluently speak a foreign language by merely being exposed to it for a period of time, and it is very prestigious to have on a resume. Author W. E. B.DuBois among other successful celebrities studied abroad. He studied at the university of Berlin in Germany for two years. Studying abroad is just another example of a way that higher education systems give their students more opportunities than those who do not attend them. Higher education systems can also be considered very valuable because they provide individuals with life skills that are essential to being successful in life. While studying at a higher education system, one is forced to develop essential time management skills much more so than at the high school level.With time needed for studying, attending classes, completing homework, relaxation, and doing fun things as well, one needs to manage their time in order to avoid failing out. These time management skills help o ut individuals later on in life. Another important life skill that individuals who attend higher education systems gain is money management skills. Some higher education system students work part-time jobs, but the majority are unable to find the time to do so on top of their schoolwork, so the only money they have for spending is either money their parents give to them, or money that they saved up before going to college.Either way, most students are on tight financial budgets that require discipline to maintain. Students learn to only spend money on things that they absolutely need, and to save up their money rather than spending it all at once. These money management skills help the students later in life. While attending a higher education system offers many positives, it also offers certain negatives. One negative is the fact that higher education schools are often very expensive. Colleges are expensive, and it is hard for a lot of families to afford to pay for, however this is not a good reason for not attending.If one starts early enough, they can save money, look into financial aide opportunities, and apply for scholarship opportunities to help pay for their tuition. It has already been shown that the amount of money that college students will make after graduation is much higher than the amount of money those who do not attend will make, so if someone can make sacrifices in order to pay for college then when they have a career someday they will make it all back plus more. Another negative to going straight to a higher education system is that people are getting later starts to their careers.Some people choose to work minimum wage jobs, or take other opportunities like opening their own businesses. These options are all respectable, and sometimes do end up making people large sums of money, but the facts given to us by the United States Bureau of Labor show that the vast majority of the time this is not the case. No matter how tempting it may be to tak e a good wage job right after high school, it is always more financially beneficially to attend a higher education system.In conclusion, the evidence shows us that attending higher education systems is extremely valuable. One reason that it is extremely valuable is that it offers many great financial benefits. Another reason is that it makes individuals more intelligent. Those who attend higher education systems also have more opportunities available to them than those who do not attend them. Attending higher education systems also teach great skills that are essential for being successful in life. In short, higher education systems are extremely valuable

Genre fiction

Subsets of genres, known as common genres, have developed from the archetypes of genres in written expression. The common genres included in recommended Literature from kindergarten through Grade Twelve by the CaliforniaDepartment of Education are defined as:[1] * Drama – stories composed in verse or prose, usually for theatrical performance, where conflicts and emotion are expressed through dialogue and action * Fable – narration demonstrating a useful truth, especially in which animals speak as humans; legendary, supernatural tale * Fairy tale – story about fairies or other magical creatures, usually for children * Fantasy – fiction with strange or other worldly settings or characters; fiction which invites suspension of reality * Fiction narrative – literary works whose content is produced by the imagination and is not necessarily based on fact * Fiction in verse – full-length novels with plot, subplot(s), theme(s), major and minor charact ers, in which the narrative is presented in (usually blank) verse form * Folklore – the songs, stories, myths, and proverbs of a people or â€Å"folk† as handed down by word of mouth.Historical fiction – story with fictional characters and events in a historical setting * Horror – fiction in which events evoke a feeling of dread and sometimes fear in both the characters and the reader * Humor – Usually a fiction full of fun, fancy, and excitement, meant to entertain and sometimes cause intended laughter; but can be contained in all genres * Legend – story, sometimes of a national or folk hero, that has a basis in fact but also includes imaginative material * Mystery – fiction dealing with the solution of a crime or the unraveling of secrets * Mythology – legend or traditional narrative, often based in part on historical events, that reveals human behavior and natural phenomena by its symbolism; often pertaining to the actions o f the gods * Poetry – verse and rhythmic writing with imagery that creates emotional responses * Realistic fiction – story that is true to life * Science fiction – story based on impact of actual, imagined, or potential science, usually set in the future or on other planets * Short story – fiction of such brevity that it supports no subplots * Tall tale – humorous story with blatant exaggerations, swaggering heroes who do the impossible with nonchalance Common genres: nonfiction* Biography/Autobiography – Narrative of a person's life. A true story about a real person. * Essay – A short literary composition that reflects the author's outlook or point. * Narrative nonfiction – Factual information presented in a format which tells a story. * Speech – Public address or discourse. * Textbook – Authoritative and detailed factual description of a topic. Literary fiction vs. genre fiction Literary fiction is a term used t o distinguish certain fictional works that possess commonly held qualities that constitute literary merit. Genre works are written with the intent of fitting into a specific literary genre in order to appeal to readers and fans already familiar with that genre.Literary fiction may fit within a classification of market fiction, but also possesses generally agreed upon qualities such as â€Å"elegantly written, lyrical, and †¦ layered† that appeals to readers outside genre fiction. Literary fiction has been defined as any fiction that attempts to engage with one or more truths or questions, hence relevant to a broad scope of humanity as a form of expression. There are many sources that help readers find and define literary fiction and genre fiction. Literary element A literary element is an element found in the whole works of literature. Literary elements are not â€Å"used† by all authors; instead, they exist inherently in forms of literature and are derived by the readers of a work in question.[1] This distinguishes them from literary techniques, which are less universal and are used intentionally rather than being emergent characteristics of a literary work. For example, characterization, conflict, setting, and point of view would be considered literary elements, whereas irony or foreshadowing are considered literary techniques. Literary elements are most frequently used to help discussion on a work or better understand a work of literature. For instance, the New York State Comprehensive English Regents Exam requires that students utilize and discuss literary elements relating to specific works in each of the two essays,[2] much like many other state-level high school exams nationwide.